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Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet
| June 30, 2017
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
ASSETS |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 178 |  |  | $ | 11,262 |  |  | $ | — |  |  | $ | 11,440 |
Accounts receivable, net | — |  |  | 218,302 |  |  | — |  |  | 218,302 |
Accounts receivable - affiliates | 187,496 |  |  | 33,709 |  |  | (221,205 | ) |  | — |
Inventory | — |  |  | 17,942 |  |  | — |  |  | 17,942 |
Prepaid expenses | 664 |  |  | 9,946 |  |  | — |  |  | 10,610 |
Derivative instruments | — |  |  | 31,851 |  |  | — |  |  | 31,851 |
Other current assets | 3 |  |  | 59 |  |  | — |  |  | 62 |
Total current assets | 188,341 |  |  | 323,071 |  |  | (221,205 | ) |  | 290,207 |
Property, plant and equipment |  |  |  |  |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 7,488,075 |  |  | — |  |  | 7,488,075 |
Other property and equipment | — |  |  | 695,592 |  |  | — |  |  | 695,592 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (2,252,653 | ) |  | — |  |  | (2,252,653 | )
Total property, plant and equipment, net | — |  |  | 5,931,014 |  |  | — |  |  | 5,931,014 |
Investments in and advances to subsidiaries | 4,545,805 |  |  | — |  |  | (4,545,805 | ) |  | — |
Derivative instruments | — |  |  | 11,834 |  |  | — |  |  | 11,834 |
Deferred income taxes | 257,652 |  |  | — |  |  | (257,652 | ) |  | — |
Long-term inventory | — |  |  | 8,762 |  |  | — |  |  | 8,762 |
Other assets | — |  |  | 19,904 |  |  | — |  |  | 19,904 |
Total assets | $ | 4,991,798 |  |  | $ | 6,294,585 |  |  | $ | (5,024,662 | ) |  | $ | 6,261,721 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 12,257 |  |  | $ | — |  |  | $ | 12,257 |
Accounts payable - affiliates | 33,709 |  |  | 187,496 |  |  | (221,205 | ) |  | — |
Revenues and production taxes payable | — |  |  | 143,715 |  |  | — |  |  | 143,715 |
Accrued liabilities | — |  |  | 139,766 |  |  | — |  |  | 139,766 |
Accrued interest payable | 38,796 |  |  | 332 |  |  | — |  |  | 39,128 |
Advances from joint interest partners | — |  |  | 5,816 |  |  | — |  |  | 5,816 |
Total current liabilities | 72,505 |  |  | 489,382 |  |  | (221,205 | ) |  | 340,682 |
Long-term debt | 1,941,683 |  |  | 418,000 |  |  | — |  |  | 2,359,683 |
Deferred income taxes | — |  |  | 784,833 |  |  | (257,652 | ) |  | 527,181 |
Asset retirement obligations | — |  |  | 51,059 |  |  | — |  |  | 51,059 |
Other liabilities | — |  |  | 5,506 |  |  | — |  |  | 5,506 |
Total liabilities | 2,014,188 |  |  | 1,748,780 |  |  | (478,857 | ) |  | 3,284,111 |
Stockholders’ equity |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 3,395,528 |  |  | (3,395,528 | ) |  | — |
Common stock, $0.01 par value: 450,000,000 shares authorized; 238,642,598 shares issued and 237,410,395 shares outstanding | 2,345 |  |  | — |  |  | — |  |  | 2,345 |
Treasury stock, at cost: 1,232,203 shares | (21,401 | ) |  | — |  |  | — |  |  | (21,401 | )
Additional paid-in-capital | 2,362,084 |  |  | 8,743 |  |  | (8,743 | ) |  | 2,362,084 |
Retained earnings | 634,582 |  |  | 1,141,534 |  |  | (1,141,534 | ) |  | 634,582 |
Total stockholders’ equity | 2,977,610 |  |  | 4,545,805 |  |  | (4,545,805 | ) |  | 2,977,610 |
Total liabilities and stockholders’ equity | $ | 4,991,798 |  |  | $ | 6,294,585 |  |  | $ | (5,024,662 | ) |  | $ | 6,261,721 |
Condensed Consolidating Balance Sheet
| December 31, 2016
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
ASSETS |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | 166 |  |  | $ | 11,060 |  |  | $ | — |  |  | $ | 11,226 |
Accounts receivable, net | — |  |  | 204,335 |  |  | — |  |  | 204,335 |
Accounts receivable - affiliates | 252,000 |  |  | 27,619 |  |  | (279,619 | ) |  | — |
Inventory | — |  |  | 10,648 |  |  | — |  |  | 10,648 |
Prepaid expenses | 275 |  |  | 7,348 |  |  | — |  |  | 7,623 |
Derivative instruments | — |  |  | 362 |  |  | — |  |  | 362 |
Other current assets | — |  |  | 4,355 |  |  | — |  |  | 4,355 |
Total current assets | 252,441 |  |  | 265,727 |  |  | (279,619 | ) |  | 238,549 |
Property, plant and equipment |  |  |  |  |  |  |  |  |  |  |
Oil and gas properties (successful efforts method) | — |  |  | 7,296,568 |  |  | — |  |  | 7,296,568 |
Other property and equipment | — |  |  | 618,790 |  |  | — |  |  | 618,790 |
Less: accumulated depreciation, depletion, amortization and impairment | — |  |  | (1,995,791 | ) |  | — |  |  | (1,995,791 | )
Total property, plant and equipment, net | — |  |  | 5,919,567 |  |  | — |  |  | 5,919,567 |
Investments in and advances to subsidiaries | 4,451,192 |  |  | — |  |  | (4,451,192 | ) |  | — |
Derivative instruments | — |  |  | — |  |  | — |  |  | — |
Deferred income taxes | 220,058 |  |  | — |  |  | (220,058 | ) |  | — |
Other assets | — |  |  | 20,516 |  |  | — |  |  | 20,516 |
Total assets | $ | 4,923,691 |  |  | $ | 6,205,810 |  |  | $ | (4,950,869 | ) |  | $ | 6,178,632 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 4,645 |  |  | $ | — |  |  | $ | 4,645 |
Accounts payable - affiliates | 27,619 |  |  | 252,000 |  |  | (279,619 | ) |  | — |
Revenues and production taxes payable | — |  |  | 139,737 |  |  | — |  |  | 139,737 |
Accrued liabilities | 12 |  |  | 119,161 |  |  | — |  |  | 119,173 |
Accrued interest payable | 38,689 |  |  | 315 |  |  | — |  |  | 39,004 |
Derivative instruments | — |  |  | 60,469 |  |  | — |  |  | 60,469 |
Advances from joint interest partners | — |  |  | 7,597 |  |  | — |  |  | 7,597 |
Other current liabilities | — |  |  | 10,490 |  |  | — |  |  | 10,490 |
Total current liabilities | 66,320 |  |  | 594,414 |  |  | (279,619 | ) |  | 381,115 |
Long-term debt | 1,934,214 |  |  | 363,000 |  |  | — |  |  | 2,297,214 |
Deferred income taxes | — |  |  | 733,587 |  |  | (220,058 | ) |  | 513,529 |
Asset retirement obligations | — |  |  | 48,985 |  |  | — |  |  | 48,985 |
Derivative instruments | — |  |  | 11,714 |  |  | — |  |  | 11,714 |
Other liabilities | — |  |  | 2,918 |  |  | — |  |  | 2,918 |
Total liabilities | 2,000,534 |  |  | 1,754,618 |  |  | (499,677 | ) |  | 3,255,475 |
Stockholders’ equity |  |  |  |  |  |  |
Capital contributions from affiliates | — |  |  | 3,388,893 |  |  | (3,388,893 | ) |  | — |
Common stock, $0.01 par value: 450,000,000 shares authorized; 237,201,064 shares issued and 236,344,172 shares outstanding | 2,331 |  |  | — |  |  | — |  |  | 2,331 |
Treasury stock, at cost: 856,892 shares | (15,950 | ) |  | — |  |  | — |  |  | (15,950 | )
Additional paid-in-capital | 2,345,271 |  |  | 8,743 |  |  | (8,743 | ) |  | 2,345,271 |
Retained earnings | 591,505 |  |  | 1,053,556 |  |  | (1,053,556 | ) |  | 591,505 |
Total stockholders’ equity | 2,923,157 |  |  | 4,451,192 |  |  | (4,451,192 | ) |  | 2,923,157 |
Total liabilities and stockholders’ equity | $ | 4,923,691 |  |  | $ | 6,205,810 |  |  | $ | (4,950,869 | ) |  | $ | 6,178,632 |
Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations
| Three Months Ended June 30, 2017
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 218,633 |  |  | $ | — |  |  | $ | 218,633 |
Bulk oil sales | — |  |  | 8,091 |  |  | — |  |  | 8,091 |
Midstream revenues | — |  |  | 15,566 |  |  | — |  |  | 15,566 |
Well services revenues | — |  |  | 11,801 |  |  | — |  |  | 11,801 |
Total revenues | — |  |  | 254,091 |  |  | — |  |  | 254,091 |
Operating expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 44,665 |  |  | — |  |  | 44,665 |
Midstream operating expenses | — |  |  | 3,263 |  |  | — |  |  | 3,263 |
Well services operating expenses | — |  |  | 8,088 |  |  | — |  |  | 8,088 |
Marketing, transportation and gathering expenses | — |  |  | 12,039 |  |  | — |  |  | 12,039 |
Bulk oil purchases | — |  |  | 7,980 |  |  | — |  |  | 7,980 |
Production taxes | — |  |  | 18,971 |  |  | — |  |  | 18,971 |
Depreciation, depletion and amortization | — |  |  | 125,291 |  |  | — |  |  | 125,291 |
Exploration expenses | — |  |  | 1,667 |  |  | — |  |  | 1,667 |
Impairment | — |  |  | 3,200 |  |  | — |  |  | 3,200 |
General and administrative expenses | 7,534 |  |  | 16,014 |  |  | — |  |  | 23,548 |
Total operating expenses | 7,534 |  |  | 241,178 |  |  | — |  |  | 248,712 |
Operating income (loss) | (7,534 | ) |  | 12,913 |  |  | — |  |  | 5,379 |
Other income (expense) |  |  |  |  |  |  |
Equity in earnings of subsidiaries | 38,875 |  |  | — |  |  | (38,875 | ) |  | — |
Net gain on derivative instruments | — |  |  | 50,532 |  |  | — |  |  | 50,532 |
Interest expense, net of capitalized interest | (33,006 | ) |  | (3,832 | ) |  | — |  |  | (36,838 | )
Other expense | — |  |  | (166 | ) |  | — |  |  | (166 | )
Total other income | 5,869 |  |  | 46,534 |  |  | (38,875 | ) |  | 13,528 |
Income (loss) before income taxes | (1,665 | ) |  | 59,447 |  |  | (38,875 | ) |  | 18,907 |
Income tax benefit (expense) | 18,233 |  |  | (20,572 | ) |  | — |  |  | (2,339 | )
Net income | $ | 16,568 |  |  | $ | 38,875 |  |  | $ | (38,875 | ) |  | $ | 16,568 |
Condensed Consolidating Statement of Operations
| Three Months Ended June 30, 2016
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 159,337 |  |  | $ | — |  |  | $ | 159,337 |
Midstream revenues | — |  |  | 6,910 |  |  | — |  |  | 6,910 |
Well services revenues | — |  |  | 12,833 |  |  | — |  |  | 12,833 |
Total revenues | — |  |  | 179,080 |  |  | — |  |  | 179,080 |
Operating expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 31,523 |  |  | — |  |  | 31,523 |
Midstream operating expenses | — |  |  | 1,740 |  |  | — |  |  | 1,740 |
Well services operating expenses | — |  |  | 7,135 |  |  | — |  |  | 7,135 |
Marketing, transportation and gathering expenses | — |  |  | 6,491 |  |  | — |  |  | 6,491 |
Production taxes | — |  |  | 14,367 |  |  | — |  |  | 14,367 |
Depreciation, depletion and amortization | — |  |  | 122,488 |  |  | — |  |  | 122,488 |
Exploration expenses | — |  |  | 340 |  |  | — |  |  | 340 |
Impairment | — |  |  | 23 |  |  | — |  |  | 23 |
General and administrative expenses | 6,395 |  |  | 15,481 |  |  | — |  |  | 21,876 |
Total operating expenses | 6,395 |  |  | 199,588 |  |  | — |  |  | 205,983 |
Loss on sale of properties | — |  |  | (1,311 | ) |  | — |  |  | (1,311 | )
Operating loss | (6,395 | ) |  | (21,819 | ) |  | — |  |  | (28,214 | )
Other income (expense) |  |  |  |  |  |  |
Equity in loss of subsidiaries | (71,987 | ) |  | — |  |  | 71,987 |  |  | — |
Net loss on derivative instruments | — |  |  | (90,846 | ) |  | — |  |  | (90,846 | )
Interest expense, net of capitalized interest | (33,190 | ) |  | (1,789 | ) |  | — |  |  | (34,979 | )
Gain on extinguishment of debt | 11,642 |  |  | — |  |  | — |  |  | 11,642 |
Other expense | — |  |  | (32 | ) |  | — |  |  | (32 | )
Total other expense | (93,535 | ) |  | (92,667 | ) |  | 71,987 |  |  | (114,215 | )
Loss before income taxes | (99,930 | ) |  | (114,486 | ) |  | 71,987 |  |  | (142,429 | )
Income tax benefit | 9,999 |  |  | 42,499 |  |  | — |  |  | 52,498 |
Net loss | $ | (89,931 | ) |  | $ | (71,987 | ) |  | $ | 71,987 |  |  | $ | (89,931 | )
Condensed Consolidating Statement of Operations
| Six Months Ended June 30, 2017
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 455,885 |  |  | $ | — |  |  | $ | 455,885 |
Bulk oil sales | — |  |  | 35,722 |  |  | — |  |  | 35,722 |
Midstream revenues | — |  |  | 30,172 |  |  | — |  |  | 30,172 |
Well services revenues | — |  |  | 17,428 |  |  | — |  |  | 17,428 |
Total revenues | — |  |  | 539,207 |  |  | — |  |  | 539,207 |
Operating expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 88,537 |  |  | — |  |  | 88,537 |
Midstream operating expenses | — |  |  | 6,590 |  |  | — |  |  | 6,590 |
Well services operating expenses | — |  |  | 11,990 |  |  | — |  |  | 11,990 |
Marketing, transportation and gathering expenses | — |  |  | 22,990 |  |  | — |  |  | 22,990 |
Bulk oil purchases | — |  |  | 35,982 |  |  | — |  |  | 35,982 |
Production taxes | — |  |  | 39,270 |  |  | — |  |  | 39,270 |
Depreciation, depletion and amortization | — |  |  | 251,957 |  |  | — |  |  | 251,957 |
Exploration expenses | — |  |  | 3,156 |  |  | — |  |  | 3,156 |
Impairment | — |  |  | 5,882 |  |  | — |  |  | 5,882 |
General and administrative expenses | 14,599 |  |  | 32,783 |  |  | — |  |  | 47,382 |
Total operating expenses | 14,599 |  |  | 499,137 |  |  | — |  |  | 513,736 |
Operating income (loss) | (14,599 | ) |  | 40,070 |  |  | — |  |  | 25,471 |
Other income (expense) |  |  |  |  |  |  |
Equity in earnings of subsidiaries | 87,978 |  |  | — |  |  | (87,978 | ) |  | — |
Net gain on derivative instruments | — |  |  | 106,607 |  |  | — |  |  | 106,607 |
Interest expense, net of capitalized interest | (65,857 | ) |  | (7,302 | ) |  | — |  |  | (73,159 | )
Other expense | — |  |  | (150 | ) |  | — |  |  | (150 | )
Total other income | 22,121 |  |  | 99,155 |  |  | (87,978 | ) |  | 33,298 |
Income before income taxes | 7,522 |  |  | 139,225 |  |  | (87,978 | ) |  | 58,769 |
Income tax benefit (expense) | 32,871 |  |  | (51,247 | ) |  | — |  |  | (18,376 | )
Net income | $ | 40,393 |  |  | $ | 87,978 |  |  | $ | (87,978 | ) |  | $ | 40,393 |
Condensed Consolidating Statement of Operations
| Six Months Ended June 30, 2016
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Revenues |  |  |  |  |  |  |
Oil and gas revenues | $ | — |  |  | $ | 276,652 |  |  | $ | — |  |  | $ | 276,652 |
Midstream revenues | — |  |  | 13,893 |  |  | — |  |  | 13,893 |
Well services revenues | — |  |  | 18,818 |  |  | — |  |  | 18,818 |
Total revenues | — |  |  | 309,363 |  |  | — |  |  | 309,363 |
Operating expenses |  |  |  |  |  |  |
Lease operating expenses | — |  |  | 62,587 |  |  | — |  |  | 62,587 |
Midstream operating expenses | — |  |  | 3,478 |  |  | — |  |  | 3,478 |
Well services operating expenses | — |  |  | 9,786 |  |  | — |  |  | 9,786 |
Marketing, transportation and gathering expenses | — |  |  | 15,043 |  |  | — |  |  | 15,043 |
Production taxes | — |  |  | 25,120 |  |  | — |  |  | 25,120 |
Depreciation, depletion and amortization | — |  |  | 244,937 |  |  | — |  |  | 244,937 |
Exploration expenses | — |  |  | 703 |  |  | — |  |  | 703 |
Impairment | — |  |  | 3,585 |  |  | — |  |  | 3,585 |
General and administrative expenses | 13,846 |  |  | 32,396 |  |  | — |  |  | 46,242 |
Total operating expenses | 13,846 |  |  | 397,635 |  |  | — |  |  | 411,481 |
Loss on sale of properties | — |  |  | (1,311 | ) |  | — |  |  | (1,311 | )
Operating loss | (13,846 | ) |  | (89,583 | ) |  | — |  |  | (103,429 | )
Other income (expense) |  |  |  |  |  |  |
Equity in loss of subsidiaries | (109,314 | ) |  | — |  |  | 109,314 |  |  | — |
Net loss on derivative instruments | — |  |  | (76,471 | ) |  | — |  |  | (76,471 | )
Interest expense, net of capitalized interest | (68,022 | ) |  | (5,696 | ) |  | — |  |  | (73,718 | )
Gain on extinguishment of debt | 18,658 |  |  | — |  |  | — |  |  | 18,658 |
Other income | 43 |  |  | 404 |  |  | — |  |  | 447 |
Total other expense | (158,635 | ) |  | (81,763 | ) |  | 109,314 |  |  | (131,084 | )
Loss before income taxes | (172,481 | ) |  | (171,346 | ) |  | 109,314 |  |  | (234,513 | )
Income tax benefit | 18,095 |  |  | 62,032 |  |  | — |  |  | 80,127 |
Net loss | $ | (154,386 | ) |  | $ | (109,314 | ) |  | $ | 109,314 |  |  | $ | (154,386 | )
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows
| Six Months Ended June 30, 2017
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 40,393 |  |  | $ | 87,978 |  |  | $ | (87,978 | ) |  | $ | 40,393 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |
Equity in earnings of subsidiaries | (87,978 | ) |  | — |  |  | 87,978 |  |  | — |
Depreciation, depletion and amortization | — |  |  | 251,957 |  |  | — |  |  | 251,957 |
Impairment | — |  |  | 5,882 |  |  | — |  |  | 5,882 |
Deferred income taxes | (32,871 | ) |  | 51,247 |  |  | — |  |  | 18,376 |
Derivative instruments | — |  |  | (106,607 | ) |  | — |  |  | (106,607 | )
Stock-based compensation expenses | 13,395 |  |  | 428 |  |  | — |  |  | 13,823 |
Deferred financing costs amortization and other | 7,470 |  |  | 1,401 |  |  | — |  |  | 8,871 |
Working capital and other changes: |  |  |  |  |  |  |
Change in accounts receivable | 64,504 |  |  | (19,833 | ) |  | (58,414 | ) |  | (13,743 | )
Change in inventory | — |  |  | (1,007 | ) |  | — |  |  | (1,007 | )
Change in prepaid expenses | (389 | ) |  | 125 |  |  | — |  |  | (264 | )
Change in other current assets | (3 | ) |  | 283 |  |  | — |  |  | 280 |
Change in long-term inventory and other assets | — |  |  | (8,768 | ) |  | — |  |  | (8,768 | )
Change in accounts payable, interest payable and accrued liabilities | 6,185 |  |  | (53,441 | ) |  | 58,414 |  |  | 11,158 |
Change in other current liabilities | — |  |  | (10,490 | ) |  | — |  |  | (10,490 | )
Net cash provided by operating activities | 10,706 |  |  | 199,155 |  |  | — |  |  | 209,861 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (252,461 | ) |  | — |  |  | (252,461 | )
Proceeds from sale of properties | — |  |  | 4,000 |  |  | — |  |  | 4,000 |
Derivative settlements | — |  |  | (8,899 | ) |  | — |  |  | (8,899 | )
Advances from joint interest partners | — |  |  | (1,781 | ) |  | — |  |  | (1,781 | )
Net cash used in investing activities | — |  |  | (259,141 | ) |  | — |  |  | (259,141 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from revolving credit facility | — |  |  | 484,000 |  |  | — |  |  | 484,000 |
Principal payments on revolving credit facility | — |  |  | (429,000 | ) |  | — |  |  | (429,000 | )
Purchases of treasury stock | (5,451 | ) |  | — |  |  | — |  |  | (5,451 | )
Investment in / capital contributions from subsidiaries | (5,188 | ) |  | 5,188 |  |  | — |  |  | — |
Other | (55 | ) |  | — |  |  | — |  |  | (55 | )
Net cash provided by (used in) financing activities | (10,694 | ) |  | 60,188 |  |  | — |  |  | 49,494 |
Increase in cash and cash equivalents | 12 |  |  | 202 |  |  | — |  |  | 214 |
Cash and cash equivalents at beginning of period | 166 |  |  | 11,060 |  |  | — |  |  | 11,226 |
Cash and cash equivalents at end of period | $ | 178 |  |  | $ | 11,262 |  |  | $ | — |  |  | $ | 11,440 |
Condensed Consolidating Statement of Cash Flows
| Six Months Ended June 30, 2016
| Parent/ Issuer |  | Combined Guarantor Subsidiaries |  | Intercompany Eliminations |  | Consolidated
| (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |
Net loss | $ | (154,386 | ) |  | $ | (109,314 | ) |  | $ | 109,314 |  |  | $ | (154,386 | )
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |  |  |  |  |  |  |
Equity in loss of subsidiaries | 109,314 |  |  | — |  |  | (109,314 | ) |  | — |
Depreciation, depletion and amortization | — |  |  | 244,937 |  |  | — |  |  | 244,937 |
Gain on extinguishment of debt | (18,658 | ) |  | — |  |  | — |  |  | (18,658 | )
Loss on sale of properties | — |  |  | 1,311 |  |  | — |  |  | 1,311 |
Impairment | — |  |  | 3,585 |  |  | — |  |  | 3,585 |
Deferred income taxes | (18,095 | ) |  | (62,032 | ) |  | — |  |  | (80,127 | )
Derivative instruments | — |  |  | 76,471 |  |  | — |  |  | 76,471 |
Stock-based compensation expenses | 12,624 |  |  | 355 |  |  | — |  |  | 12,979 |
Deferred financing costs amortization and other | 3,360 |  |  | 3,192 |  |  | — |  |  | 6,552 |
Working capital and other changes: |  |  |  |  |  |  |
Change in accounts receivable | (85 | ) |  | 53,068 |  |  | (48,686 | ) |  | 4,297 |
Change in inventory | — |  |  | 2,054 |  |  | — |  |  | 2,054 |
Change in prepaid expenses | 278 |  |  | 1,145 |  |  | — |  |  | 1,423 |
Change in other current assets | — |  |  | (114 | ) |  | — |  |  | (114 | )
Change in long-term inventory and other assets | 100 |  |  | — |  |  | — |  |  | 100 |
Change in accounts payable, interest payable and accrued liabilities | (50,462 | ) |  | (16,258 | ) |  | 48,686 |  |  | (18,034 | )
Change in other current liabilities | — |  |  | 9,001 |  |  | — |  |  | 9,001 |
Change in other liabilities | — |  |  | 10 |  |  | — |  |  | 10 |
Net cash provided by (used in) operating activities | (116,010 | ) |  | 207,411 |  |  | — |  |  | 91,401 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | — |  |  | (231,341 | ) |  | — |  |  | (231,341 | )
Proceeds from sale of properties | — |  |  | 11,679 |  |  | — |  |  | 11,679 |
Costs related to sale of properties | — |  |  | (310 | ) |  | — |  |  | (310 | )
Derivative settlements | — |  |  | 103,790 |  |  | — |  |  | 103,790 |
Advances from joint interest partners | — |  |  | 769 |  |  | — |  |  | 769 |
Net cash used in investing activities | — |  |  | (115,413 | ) |  | — |  |  | (115,413 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from revolving credit facility | — |  |  | 359,000 |  |  | — |  |  | 359,000 |
Principal payments on revolving credit facility | — |  |  | (462,000 | ) |  | — |  |  | (462,000 | )
Repurchase of senior unsecured notes | (56,925 | ) |  | — |  |  | — |  |  | (56,925 | )
Deferred financing costs | — |  |  | (751 | ) |  | — |  |  | (751 | )
Proceeds from sale of common stock | 182,953 |  |  | — |  |  | — |  |  | 182,953 |
Purchases of treasury stock | (1,520 | ) |  | — |  |  | — |  |  | (1,520 | )
Investment in / capital contributions from subsidiaries | (9,190 | ) |  | 9,190 |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | 115,318 |  |  | (94,561 | ) |  | — |  |  | 20,757 |
Decrease in cash and cash equivalents | (692 | ) |  | (2,563 | ) |  | — |  |  | (3,255 | )
Cash and cash equivalents at beginning of period | 777 |  |  | 8,953 |  |  | — |  |  | 9,730 |
Cash and cash equivalents at end of period | $ | 85 |  |  | $ | 6,390 |  |  | $ | — |  |  | $ | 6,475 |

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