XML 18 R33.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Condensed Consolidating Financial Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet
| September 30, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
ASSETS |  |  |  |  |  |  |
Cash and cash equivalents | $ | 757 |  |  | $ | 11,508 |  |  | $ | — |  |  | $ | 12,265 |
Accounts receivable | 16 |  |  | 198,166 |  |  | — |  |  | 198,182 |
Accounts receivable – affiliates | 1,258 |  |  | 221,784 |  |  | (223,042 | ) |  | — |
Inventory | — |  |  | 12,929 |  |  | — |  |  | 12,929 |
Prepaid expenses | 417 |  |  | 8,100 |  |  |  |  |  | 8,517 |
Other current assets | — |  |  | 131,757 |  |  | — |  |  | 131,757 |
Oil and gas properties (successful efforts method) | — |  |  | 6,337,945 |  |  | — |  |  | 6,337,945 |
Other property and equipment | — |  |  | 436,052 |  |  | — |  |  | 436,052 |
Accumulated depreciation, depletion, amortization and impairment | — |  |  | (1,466,422 | ) |  | — |  |  | (1,466,422 | )
Investments in and advances to subsidiaries | 4,526,226 |  |  | — |  |  | (4,526,226 | ) |  | — |
Other long-term assets | 227,143 |  |  | 27,849 |  |  | (201,109 | ) |  | 53,883 |
Total assets | $ | 4,755,817 |  |  | $ | 5,919,668 |  |  | $ | (4,950,377 | ) |  | $ | 5,725,108 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |
Accounts payable – affiliates | 221,784 |  |  | 1,258 |  |  | (223,042 | ) |  | — |
Other current liabilities | 24,551 |  |  | 391,382 |  |  | — |  |  | 415,933 |
Long-term debt | 2,200,000 |  |  | 180,000 |  |  | — |  |  | 2,380,000 |
Other long-term liabilities | — |  |  | 820,802 |  |  | (201,109 | ) |  | 619,693 |
Common stock | 1,376 |  |  | — |  |  | — |  |  | 1,376 |
Other stockholders’ equity | 2,308,106 |  |  | 4,526,226 |  |  | (4,526,226 | ) |  | 2,308,106 |
Total liabilities and stockholders’ equity | $ | 4,755,817 |  |  | $ | 5,919,668 |  |  | $ | (4,950,377 | ) |  | $ | 5,725,108 |
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 |
Total stockholders’ equity | 1,872,301 |  |  | 4,032,494 |  |  | (4,032,494 | ) |  | 1,872,301 |
Total liabilities and stockholders’ 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 September 30, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Total revenues | $ | — |  |  | $ | 197,235 |  |  | $ | — |  |  | $ | 197,235 |
Total operating expenses | (5,903 | ) |  | (211,430 | ) |  | — |  |  | (217,333 | )
Gain on sale of properties | — |  |  | 172 |  |  | — |  |  | 172 |
Operating loss | (5,903 | ) |  | (14,023 | ) |  | — |  |  | (19,926 | )
Equity in earnings of subsidiaries | 49,899 |  |  | — |  |  | (49,899 | ) |  | — |
Interest expense, net of capitalized interest | (34,020 | ) |  | (2,493 | ) |  | — |  |  | (36,513 | )
Other income (expense) | 1 |  |  | 103,885 |  |  | — |  |  | 103,886 |
Income before income taxes | 9,977 |  |  | 87,369 |  |  | (49,899 | ) |  | 47,447 |
Income tax benefit (expense) | 17,078 |  |  | (37,470 | ) |  | — |  |  | (20,392 | )
Net income | $ | 27,055 |  |  | $ | 49,899 |  |  | $ | (49,899 | ) |  | $ | 27,055 |
Condensed Consolidating Statement of Operations
| Three Months Ended September 30, 2014
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Total revenues | $ | — |  |  | $ | 368,659 |  |  | $ | — |  |  | $ | 368,659 |
General and administrative expenses | (6,373 | ) |  | (17,542 | ) |  | — |  |  | (23,915 | )
Other operating expenses | — |  |  | (210,684 | ) |  | — |  |  | (210,684 | )
Gain on sale of properties | — |  |  | 43 |  |  | — |  |  | 43 |
Operating income (loss) | (6,373 | ) |  | 140,476 |  |  | — |  |  | 134,103 |
Equity in earnings of subsidiaries | 148,357 |  |  | — |  |  | (148,357 | ) |  | — |
Interest expense, net of capitalized interest | (36,724 | ) |  | (2,696 | ) |  | — |  |  | (39,420 | )
Other income (expense) | — |  |  | 103,388 |  |  | — |  |  | 103,388 |
Income before income taxes | 105,260 |  |  | 241,168 |  |  | (148,357 | ) |  | 198,071 |
Income tax benefit (expense) | 16,327 |  |  | (92,811 | ) |  | — |  |  | (76,484 | )
Net income | $ | 121,587 |  |  | $ | 148,357 |  |  | $ | (148,357 | ) |  | $ | 121,587 |
Condensed Consolidating Statement of Operations
| Nine Months Ended September 30, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Total revenues | $ | — |  |  | $ | 607,668 |  |  | $ | — |  |  | $ | 607,668 |
General and administrative expenses | (20,847 | ) |  | (46,343 | ) |  | — |  |  | (67,190 | )
Other operating expenses | — |  |  | (601,648 | ) |  | — |  |  | (601,648 | )
Gain on sale of properties | — |  |  | 172 |  |  | — |  |  | 172 |
Operating loss | (20,847 | ) |  | (40,151 | ) |  | — |  |  | (60,998 | )
Equity in earnings of subsidiaries | 28,269 |  |  | — |  |  | (28,269 | ) |  | — |
Interest expense, net of capitalized interest | (103,435 | ) |  | (9,267 | ) |  | — |  |  | (112,702 | )
Other income (expense) | 5 |  |  | 111,650 |  |  | — |  |  | 111,655 |
Income (loss) before income taxes | (96,008 | ) |  | 62,232 |  |  | (28,269 | ) |  | (62,045 | )
Income tax benefit (expense) | 51,792 |  |  | (33,963 | ) |  | — |  |  | 17,829 |
Net income (loss) | $ | (44,216 | ) |  | $ | 28,269 |  |  | $ | (28,269 | ) |  | $ | (44,216 | )
Condensed Consolidating Statement of Operations
| Nine Months Ended September 30, 2014
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Total revenues | $ | — |  |  | $ | 1,090,556 |  |  | $ | — |  |  | $ | 1,090,556 |
General and administrative expenses | (17,790 | ) |  | (50,396 | ) |  | — |  |  | (68,186 | )
Other operating expenses | — |  |  | (579,718 | ) |  | — |  |  | (579,718 | )
Gain on sale of properties | — |  |  | 187,076 |  |  | — |  |  | 187,076 |
Operating income (loss) | (17,790 | ) |  | 647,518 |  |  | — |  |  | 629,728 |
Equity in earnings of subsidiaries | 410,775 |  |  | — |  |  | (410,775 | ) |  | — |
Interest expense, net of capitalized interest | (110,853 | ) |  | (7,715 | ) |  | — |  |  | (118,568 | )
Other income (expense) | 3 |  |  | 20,500 |  |  | — |  |  | 20,503 |
Income before income taxes | 282,135 |  |  | 660,303 |  |  | (410,775 | ) |  | 531,663 |
Income tax benefit (expense) | 48,238 |  |  | (249,528 | ) |  | — |  |  | (201,290 | )
Net income | $ | 330,373 |  |  | $ | 410,775 |  |  | $ | (410,775 | ) |  | $ | 330,373 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows
| Nine Months Ended September 30, 2015
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Net cash provided by operating activities | $ | 3,323 |  |  | $ | 277,014 |  |  | $ | — |  |  | $ | 280,337 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (740,633 | ) |  | — |  |  | (740,633 | )
Derivative settlements | — |  |  | 291,436 |  |  | — |  |  | 291,436 |
Other investing activities | — |  |  | (1,161 | ) |  | — |  |  | (1,161 | )
Net cash used in investing activities | — |  |  | (450,358 | ) |  | — |  |  | (450,358 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from sale of common stock | 462,833 |  |  | — |  |  | — |  |  | 462,833 |
Proceeds from revolving credit facility | — |  |  | 618,000 |  |  | — |  |  | 618,000 |
Principal payments on revolving credit facility | — |  |  | (938,000 | ) |  | — |  |  | (938,000 | )
Other financing activities | (466,175 | ) |  | 459,817 |  |  | — |  |  | (6,358 | )
Net cash provided by (used in) financing activities | (3,342 | ) |  | 139,817 |  |  | — |  |  | 136,475 |
Decrease in cash and cash equivalents | (19 | ) |  | (33,527 | ) |  | — |  |  | (33,546 | )
Cash and cash equivalents at beginning of period | 776 |  |  | 45,035 |  |  | — |  |  | 45,811 |
Cash and cash equivalents at end of period | $ | 757 |  |  | $ | 11,508 |  |  | $ | — |  |  | $ | 12,265 |
Condensed Consolidating Statement of Cash Flows
| Nine Months Ended September 30, 2014
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Net cash provided by (used in) operating activities | $ | (64,099 | ) |  | $ | 737,591 |  |  | $ | — |  |  | $ | 673,492 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (998,889 | ) |  | — |  |  | (998,889 | )
Proceeds from sale of properties | — |  |  | 324,938 |  |  | — |  |  | 324,938 |
Other investing activities | — |  |  | (33,163 | ) |  | — |  |  | (33,163 | )
Net cash used in investing activities | — |  |  | (707,114 | ) |  | — |  |  | (707,114 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from revolving credit facility | — |  |  | 370,000 |  |  | — |  |  | 370,000 |
Principal payments on revolving credit facility | — |  |  | (355,570 | ) |  | — |  |  | (355,570 | )
Other financing activities | 30,599 |  |  | (36,114 | ) |  | — |  |  | (5,515 | )
Net cash provided by (used in) financing activities | 30,599 |  |  | (21,684 | ) |  | — |  |  | 8,915 |
Increase (decrease) in cash and cash equivalents | (33,500 | ) |  | 8,793 |  |  | — |  |  | (24,707 | )
Cash and cash equivalents at beginning of period | 34,277 |  |  | 57,624 |  |  | — |  |  | 91,901 |
Cash and cash equivalents at end of period | $ | 777 |  |  | $ | 66,417 |  |  | $ | — |  |  | $ | 67,194 |

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration