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Condensed Consolidating Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet
| March 31, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
ASSETS |  |  |  |  |  |  |
Cash and cash equivalents | $ | 774 |  |  | $ | 9,414 |  |  | $ | — |  |  | $ | 10,188 |
Accounts receivable | — |  |  | 243,169 |  |  | — |  |  | 243,169 |
Accounts receivable – affiliates | 1,032 |  |  | 143,517 |  |  | (144,549 | ) |  | — |
Other current assets | 148 |  |  | 293,082 |  |  | — |  |  | 293,230 |
Oil and gas properties (successful efforts method) | — |  |  | 6,187,638 |  |  | — |  |  | 6,187,638 |
Other property and equipment | — |  |  | 356,940 |  |  | — |  |  | 356,940 |
Accumulated depreciation, depletion, amortization and impairment | — |  |  | (1,215,216 | ) |  | — |  |  | (1,215,216 | )
Investments in and advances to subsidiaries | 4,499,571 |  |  | — |  |  | (4,499,571 | ) |  | — |
Other long-term assets | 190,812 |  |  | 12,674 |  |  | (162,498 | ) |  | 40,988 |
Total assets | $ | 4,692,337 |  |  | $ | 6,031,218 |  |  | $ | (4,806,618 | ) |  | $ | 5,916,937 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 9,339 |  |  | $ | — |  |  | $ | 9,339 |
Accounts payable – affiliates | 143,517 |  |  | 1,032 |  |  | (144,549 | ) |  | — |
Other current liabilities | 24,575 |  |  | 608,325 |  |  | — |  |  | 632,900 |
Long-term debt | 2,200,000 |  |  | 165,000 |  |  | — |  |  | 2,365,000 |
Other long-term liabilities | — |  |  | 747,951 |  |  | (162,498 | ) |  | 585,453 |
Common stock | 1,372 |  |  | — |  |  | — |  |  | 1,372 |
Other equity | 2,322,873 |  |  | 4,499,571 |  |  | (4,499,571 | ) |  | 2,322,873 |
Total liabilities and equity | $ | 4,692,337 |  |  | $ | 6,031,218 |  |  | $ | (4,806,618 | ) |  | $ | 5,916,937 |
Condensed Consolidating Balance Sheet
| December 31, 2014
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
ASSETS |  |  |  |  |  |  |
Cash and cash equivalents | $ | 776 |  |  | $ | 45,035 |  |  | $ | — |  |  | $ | 45,811 |
Accounts receivable | — |  |  | 306,471 |  |  | — |  |  | 306,471 |
Accounts receivable – affiliates | 781 |  |  | 91,459 |  |  | (92,240 | ) |  | — |
Prepaid expenses | 297 |  |  | 13,976 |  |  | — |  |  | 14,273 |
Other current assets | — |  |  | 330,052 |  |  | — |  |  | 330,052 |
Oil and gas properties (successful efforts method) | — |  |  | 5,966,140 |  |  | — |  |  | 5,966,140 |
Other property and equipment | — |  |  | 313,439 |  |  | — |  |  | 313,439 |
Accumulated depreciation, depletion, amortization and impairment | — |  |  | (1,092,793 | ) |  | — |  |  | (1,092,793 | )
Investments in and advances to subsidiaries | 4,032,494 |  |  | — |  |  | (4,032,494 | ) |  | — |
Other long-term assets | 178,752 |  |  | 25,584 |  |  | (149,317 | ) |  | 55,019 |
Total assets | $ | 4,213,100 |  |  | $ | 5,999,363 |  |  | $ | (4,274,051 | ) |  | $ | 5,938,412 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 20,958 |  |  | $ | — |  |  | $ | 20,958 |
Accounts payable – affiliates | 91,459 |  |  | 781 |  |  | (92,240 | ) |  | — |
Other current liabilities | 49,340 |  |  | 724,830 |  |  | — |  |  | 774,170 |
Long-term debt | 2,200,000 |  |  | 500,000 |  |  | — |  |  | 2,700,000 |
Other long-term liabilities | — |  |  | 720,300 |  |  | (149,317 | ) |  | 570,983 |
Equity | 1,872,301 |  |  | 4,032,494 |  |  | (4,032,494 | ) |  | 1,872,301 |
Total liabilities and equity | $ | 4,213,100 |  |  | $ | 5,999,363 |  |  | $ | (4,274,051 | ) |  | $ | 5,938,412 |
Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations
| Three Months Ended March 31, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Total revenues | $ | — |  |  | $ | 180,387 |  |  | $ | — |  |  | $ | 180,387 |
Total operating expenses | 8,619 |  |  | 205,403 |  |  | — |  |  | 214,022 |
Operating loss | (8,619 | ) |  | (25,016 | ) |  | — |  |  | (33,635 | )
Equity in earnings in subsidiaries | 12,619 |  |  | — |  |  | (12,619 | ) |  | — |
Other income (expense) | (35,222 | ) |  | 43,440 |  |  | — |  |  | 8,218 |
Income (loss) before income taxes | (31,222 | ) |  | 18,424 |  |  | (12,619 | ) |  | (25,417 | )
Income tax benefit (expense) | 13,181 |  |  | (5,805 | ) |  | — |  |  | 7,376 |
Net income (loss) | $ | (18,041 | ) |  | $ | 12,619 |  |  | $ | (12,619 | ) |  | $ | (18,041 | )
Condensed Consolidating Statement of Operations
| Three Months Ended March 31, 2014
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Total revenues | $ | — |  |  | $ | 349,519 |  |  | $ | — |  |  | $ | 349,519 |
General and administrative expenses | 5,612 |  |  | 17,908 |  |  | — |  |  | 23,520 |
Other operating expenses | — |  |  | 180,312 |  |  | — |  |  | 180,312 |
Gain on sale of properties | — |  |  | 183,393 |  |  | — |  |  | 183,393 |
Operating income (loss) | (5,612 | ) |  | 334,692 |  |  | — |  |  | 329,080 |
Equity in earnings in subsidiaries | 196,933 |  |  | — |  |  | (196,933 | ) |  | — |
Interest expense, net of capitalized interest | (37,424 | ) |  | (2,734 | ) |  | — |  |  | (40,158 | )
Other income (expense) | 3 |  |  | (17,453 | ) |  | — |  |  | (17,450 | )
Income before income taxes | 153,900 |  |  | 314,505 |  |  | (196,933 | ) |  | 271,472 |
Income tax benefit (expense) | 16,053 |  |  | (117,572 | ) |  | — |  |  | (101,519 | )
Net income | $ | 169,953 |  |  | $ | 196,933 |  |  | $ | (196,933 | ) |  | $ | 169,953 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows
| Three Months Ended March 31, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Net cash provided by (used in) operating activities | $ | (7,988 | ) |  | $ | 96,349 |  |  | $ | — |  |  | $ | 88,361 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (359,113 | ) |  | — |  |  | (359,113 | )
Derivative settlements | — |  |  | 109,259 |  |  | — |  |  | 109,259 |
Other investing activities | — |  |  | (828 | ) |  | — |  |  | (828 | )
Net cash used in investing activities | — |  |  | (250,682 | ) |  | — |  |  | (250,682 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from sale of common stock | 463,218 |  |  | — |  |  | — |  |  | 463,218 |
Proceeds from revolving credit facility | — |  |  | 145,000 |  |  | — |  |  | 145,000 |
Principal payments on revolving credit facility | — |  |  | (480,000 | ) |  | — |  |  | (480,000 | )
Other financing activities | (455,232 | ) |  | 453,712 |  |  | — |  |  | (1,520 | )
Net cash provided by financing activities | 7,986 |  |  | 118,712 |  |  | — |  |  | 126,698 |
Decrease in cash and cash equivalents | (2 | ) |  | (35,621 | ) |  | — |  |  | (35,623 | )
Cash and cash equivalents at beginning of period | 776 |  |  | 45,035 |  |  | — |  |  | 45,811 |
Cash and cash equivalents at end of period | $ | 774 |  |  | $ | 9,414 |  |  | $ | — |  |  | $ | 10,188 |
Condensed Consolidating Statement of Cash Flows
| Three Months Ended March 31, 2014
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Net cash provided by (used in) operating activities | $ | (56,630 | ) |  | $ | 264,897 |  |  | $ | — |  |  | $ | 208,267 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (280,895 | ) |  | — |  |  | (280,895 | )
Proceeds from sale of properties | — |  |  | 321,943 |  |  | — |  |  | 321,943 |
Other investing activities | — |  |  | (6,147 | ) |  | — |  |  | (6,147 | )
Net cash provided by investing activities | — |  |  | 34,901 |  |  | — |  |  | 34,901 |
Cash flows from financing activities: |  |  |  |  |  |  |
Principal payments on revolving credit facility | — |  |  | (275,570 | ) |  | — |  |  | (275,570 | )
Other financing activities | 23,289 |  |  | (26,490 | ) |  | — |  |  | (3,201 | )
Net cash provided by (used in) financing activities | 23,289 |  |  | (302,060 | ) |  | — |  |  | (278,771 | )
Decrease in cash and cash equivalents | (33,341 | ) |  | (2,262 | ) |  | — |  |  | (35,603 | )
Cash and cash equivalents at beginning of period | 34,277 |  |  | 57,624 |  |  | — |  |  | 91,901 |
Cash and cash equivalents at end of period | $ | 936 |  |  | $ | 55,362 |  |  | $ | — |  |  | $ | 56,298 |

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