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Subsequent Events | 3 Months Ended
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Mar. 31, 2016
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events The Company has evaluated the period after the balance sheet date, noting no subsequent events or transactions that required recognition or disclosure in the financial statements, other than as noted below. Divestiture. On April 1, 2016, the Company completed the sale of certain legacy wells that have been producing from conventional reservoirs and other formations in the Williston Basin other than the Bakken or Three Forks formations for cash proceeds of approximately $12.2 million, which includes, and is subject to further, customary post close adjustments, and a $4.0 million 10% secured promissory note due within one year. Extinguishment of debt. In April 2016, the Company repurchased an additional aggregate principal amount of $46.8 million of its outstanding Notes, consisting of $1.0 million principal amount of its 7.25% senior unsecured notes due February 2019, $1.3 million principal amount of its 6.5% senior unsecured notes due November 2021 and $44.5 million principal amount of its 6.875% senior unsecured notes due March 2022, for an aggregate cost of $34.6 million, including accrued interest and fees. Derivative instruments. In April and May 2016, the Company entered into new swap and three-way costless collar agreements with a weighted average floor price of $46.23 per barrel for total notional amounts of 153,000 barrels, 1,061,000 barrels and 62,000 barrels, which settle in 2016, 2017 and 2018, respectively, based on WTI. These derivative instruments do not qualify for and were not designated as hedging instruments for accounting purposes.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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