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Condensed Consolidating Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Balance Sheets | CONDENSED CONSOLIDATING BALANCE SHEETS (Amounts in thousands)
| March 31, 2014
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 168,476 |  |  | $ | 1,906 |  |  | $ | — |  |  | $ | — |  |  | $ | 170,382 |
Accounts receivable - oil and gas | 81,130 |  |  | 5,638 |  |  | — |  |  | — |  |  | 86,768 |
Accounts receivable - related parties | 570 |  |  | — |  |  | — |  |  | — |  |  | 570 |
Accounts receivable - intercompany | 23,317 |  |  | 26 |  |  | — |  |  | (23,343 | ) |  | — |
Prepaid expenses and other current assets | 3,352 |  |  | — |  |  | — |  |  | — |  |  | 3,352 |
Deferred tax asset | 7,558 |  |  | — |  |  | — |  |  | — |  |  | 7,558 |
Note receivable - related party | 875 |  |  | — |  |  | — |  |  | — |  |  | 875 |
Total current assets | 285,278 |  |  | 7,570 |  |  | — |  |  | (23,343 | ) |  | 269,505 |
Property and equipment: |  |  |  |  |  |  |  |  |
Oil and natural gas properties, full-cost accounting | 2,898,168 |  |  | 9,381 |  |  | — |  |  | (573 | ) |  | 2,906,976 |
Other property and equipment | 12,195 |  |  | 29 |  |  | — |  |  | — |  |  | 12,224 |
Accumulated depletion, depreciation, amortization and impairment | (841,539 | ) |  | (22 | ) |  | — |  |  | — |  |  | (841,561 | )
Property and equipment, net | 2,068,824 |  |  | 9,388 |  |  | — |  |  | (573 | ) |  | 2,077,639 |
Other assets: |  |  |  |  |  |  |  |  |
Equity investments and investments in subsidiaries | 491,955 |  |  | — |  |  | 190,263 |  |  | (182,799 | ) |  | 499,419 |
Derivative instruments | 2,565 |  |  | — |  |  | — |  |  | — |  |  | 2,565 |
Other assets | 17,581 |  |  | — |  |  | — |  |  | — |  |  | 17,581 |
Total other assets | 512,101 |  |  | — |  |  | 190,263 |  |  | (182,799 | ) |  | 519,565 |
Total assets | $ | 2,866,203 |  |  | $ | 16,958 |  |  | $ | 190,263 |  |  | $ | (206,715 | ) |  | $ | 2,866,709 |
Liabilities and Stockholders' Equity |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 238,593 |  |  | $ | 506 |  |  | $ | — |  |  | $ | — |  |  | $ | 239,099 |
Accounts payable - intercompany |  |  |  | 23,238 |  |  | 105 |  |  | (23,343 | ) |  | — |
Asset retirement obligation - current | 795 |  |  | — |  |  | — |  |  | — |  |  | 795 |
Short-term derivative instruments | 29,755 |  |  | — |  |  | — |  |  | — |  |  | 29,755 |
Current maturities of long-term debt | 161 |  |  | — |  |  | — |  |  | — |  |  | 161 |
Total current liabilities | 269,304 |  |  | 23,744 |  |  | 105 |  |  | (23,343 | ) |  | 269,810 |
Long-term derivative instrument | 4,277 |  |  | — |  |  | — |  |  | — |  |  | 4,277 |
Asset retirement obligation - long-term | 14,650 |  |  | — |  |  | — |  |  | — |  |  | 14,650 |
Deferred tax liability | 148,470 |  |  | — |  |  | — |  |  | — |  |  | 148,470 |
Long-term debt, net of current maturities | 299,062 |  |  | — |  |  | — |  |  | — |  |  | 299,062 |
Total liabilities | 735,763 |  |  | 23,744 |  |  | 105 |  |  | (23,343 | ) |  | 736,269 |
Stockholders' equity: |  |  |  |  |  |  |  |  |
Common stock | 853 |  |  | — |  |  | — |  |  | — |  |  | 853 |
Paid-in capital | 1,817,978 |  |  | 322 |  |  | 216,347 |  |  | (216,669 | ) |  | 1,817,978 |
Accumulated other comprehensive income (loss) | (17,059 | ) |  | — |  |  | (17,059 | ) |  | 17,059 |  |  | (17,059 | )
Retained earnings (accumulated deficit) | 328,668 |  |  | (7,108 | ) |  | (9,130 | ) |  | 16,238 |  |  | 328,668 |
Total stockholders' equity | 2,130,440 |  |  | (6,786 | ) |  | 190,158 |  |  | (183,372 | ) |  | 2,130,440 |
Total liabilities and stockholders' equity | $ | 2,866,203 |  |  | $ | 16,958 |  |  | $ | 190,263 |  |  | $ | (206,715 | ) |  | $ | 2,866,709 |
CONDENSED CONSOLIDATING BALANCE SHEETS (Amounts in thousands)
| December 31, 2013
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 451,431 |  |  | $ | 7,525 |  |  | $ | — |  |  | $ | — |  |  | $ | 458,956 |
Accounts receivable - oil and gas | 58,662 |  |  | 162 |  |  | — |  |  | — |  |  | 58,824 |
Accounts receivable - related parties | 2,617 |  |  | — |  |  | — |  |  | — |  |  | 2,617 |
Accounts receivable - intercompany | 21,379 |  |  | 27 |  |  | — |  |  | (21,406 | ) |  | — |
Prepaid expenses and other current assets | 2,581 |  |  | — |  |  | — |  |  | — |  |  | 2,581 |
Deferred tax asset | 6,927 |  |  | — |  |  | — |  |  | — |  |  | 6,927 |
Short-term derivative instruments | 324 |  |  | — |  |  | — |  |  | — |  |  | 324 |
Note receivable - related party | 875 |  |  | — |  |  | — |  |  | — |  |  | 875 |
Total current assets | 544,796 |  |  | 7,714 |  |  | — |  |  | (21,406 | ) |  | 531,104 |
Property and equipment: |  |  |  |  |  |  |  |  |
Oil and natural gas properties, full-cost accounting, | 2,470,411 |  |  | 7,340 |  |  | — |  |  | (573 | ) |  | 2,477,178 |
Other property and equipment | 11,102 |  |  | 29 |  |  | — |  |  | — |  |  | 11,131 |
Accumulated depletion, depreciation, amortization and impairment | (784,695 | ) |  | (22 | ) |  | — |  |  | — |  |  | (784,717 | )
Property and equipment, net | 1,696,818 |  |  | 7,347 |  |  | — |  |  | (573 | ) |  | 1,703,592 |
Other assets: |  |  |  |  |  |  |  |  |
Equity investments and investments in subsidiaries | 432,727 |  |  | — |  |  | 191,473 |  |  | (184,132 | ) |  | 440,068 |
Derivative instruments | 521 |  |  | — |  |  | — |  |  | — |  |  | 521 |
Other assets | 17,851 |  |  | — |  |  | — |  |  | — |  |  | 17,851 |
Total other assets | 451,099 |  |  | — |  |  | 191,473 |  |  | (184,132 | ) |  | 458,440 |
Total assets | $ | 2,692,713 |  |  | $ | 15,061 |  |  | $ | 191,473 |  |  | $ | (206,111 | ) |  | $ | 2,693,136 |
Liabilities and Stockholders' Equity |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 190,284 |  |  | $ | 423 |  |  | $ | — |  |  | $ | — |  |  | $ | 190,707 |
Accounts payable - intercompany | — |  |  | 21,296 |  |  | 110 |  |  | (21,406 | ) |  | — |
Asset retirement obligation - current | 795 |  |  | — |  |  | — |  |  | — |  |  | 795 |
Short-term derivative instruments | 12,280 |  |  | — |  |  | — |  |  | — |  |  | 12,280 |
Current maturities of long-term debt | 159 |  |  | — |  |  | — |  |  | — |  |  | 159 |
Total current liabilities | 203,518 |  |  | 21,719 |  |  | 110 |  |  | (21,406 | ) |  | 203,941 |
Long-term derivative instrument | 11,366 |  |  | — |  |  | — |  |  | — |  |  | 11,366 |
Asset retirement obligation - long-term | 14,288 |  |  | — |  |  | — |  |  | — |  |  | 14,288 |
Deferred tax liability | 114,275 |  |  | — |  |  | — |  |  | — |  |  | 114,275 |
Long-term debt, net of current maturities | 299,028 |  |  | — |  |  | — |  |  | — |  |  | 299,028 |
Total liabilities | 642,475 |  |  | 21,719 |  |  | 110 |  |  | (21,406 | ) |  | 642,898 |
Stockholders' equity: |  |  |  |  |  |  |  |  |
Common stock | 851 |  |  | — |  |  | — |  |  | — |  |  | 851 |
Paid-in capital | 1,813,058 |  |  | 322 |  |  | 208,277 |  |  | (208,599 | ) |  | 1,813,058 |
Accumulated other comprehensive income (loss) | (9,781 | ) |  | — |  |  | (9,781 | ) |  | 9,781 |  |  | (9,781 | )
Retained earnings (accumulated deficit) | 246,110 |  |  | (6,980 | ) |  | (7,133 | ) |  | 14,113 |  |  | 246,110 |
Total stockholders' equity | 2,050,238 |  |  | (6,658 | ) |  | 191,363 |  |  | (184,705 | ) |  | 2,050,238 |
Total liabilities and stockholders' equity | $ | 2,692,713 |  |  | $ | 15,061 |  |  | $ | 191,473 |  |  | $ | (206,111 | ) |  | $ | 2,693,136 |
Condensed Consolidating Statements of Operations | CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Amounts in thousands)
| Three months ended March 31, 2014
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Total revenues | $ | 117,850 |  |  | $ | 179 |  |  | $ | — |  |  | $ | — |  |  | $ | 118,029 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Lease operating expenses | 11,381 |  |  | 248 |  |  | — |  |  | — |  |  | 11,629 |
Production taxes | 6,937 |  |  | 20 |  |  | — |  |  | — |  |  | 6,957 |
Midstream transportation, processing and marketing | 7,757 |  |  | 12 |  |  | — |  |  | — |  |  | 7,769 |
Depreciation, depletion, and amortization | 56,877 |  |  | — |  |  | — |  |  | — |  |  | 56,877 |
General and administrative | 9,488 |  |  | 27 |  |  | (4 | ) |  | — |  |  | 9,511 |
Accretion expense | 188 |  |  | — |  |  | — |  |  | — |  |  | 188 |
Gain on sale of assets | (11 | ) |  | — |  |  | — |  |  | — |  |  | (11 | )
| 92,617 |  |  | 307 |  |  | (4 | ) |  | — |  |  | 92,920 |
INCOME (LOSS) FROM OPERATIONS | 25,233 |  |  | (128 | ) |  | 4 |  |  | — |  |  | 25,109 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |
Interest expense | 3,885 |  |  | — |  |  | — |  |  | — |  |  | 3,885 |
Interest income | (106 | ) |  | — |  |  | — |  |  | — |  |  | (106 | )
Litigation settlement | 18,000 |  |  | — |  |  | — |  |  | — |  |  | 18,000 |
(Income) loss from equity method investments and investments in subsidiaries | (128,351 | ) |  | — |  |  | 2,001 |  |  | (2,125 | ) |  | (128,475 | )
| (106,572 | ) |  | — |  |  | 2,001 |  |  | (2,125 | ) |  | (106,696 | )
INCOME (LOSS) BEFORE INCOME TAXES | 131,805 |  |  | (128 | ) |  | (1,997 | ) |  | 2,125 |  |  | 131,805 |
INCOME TAX EXPENSE | 49,247 |  |  | — |  |  | — |  |  | — |  |  | 49,247 |
NET INCOME (LOSS) | $ | 82,558 |  |  | $ | (128 | ) |  | $ | (1,997 | ) |  | $ | 2,125 |  |  | $ | 82,558 |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Amounts in thousands)
| Three months ended March 31, 2013
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Total revenues | $ | 54,662 |  |  | $ | 338 |  |  | $ | — |  |  | $ | — |  |  | $ | 55,000 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Lease operating expenses | 4,998 |  |  | 174 |  |  | — |  |  | — |  |  | 5,172 |
Production taxes | 6,848 |  |  | 22 |  |  |  |  |  |  | 6,870 |
Midstream transportation, processing and marketing | 413 |  |  | 4 |  |  |  |  |  |  | 417 |
Depreciation, depletion, and amortization | 22,583 |  |  | — |  |  | — |  |  | — |  |  | 22,583 |
General and administrative | 4,378 |  |  | 34 |  |  | — |  |  | — |  |  | 4,412 |
Accretion expense | 175 |  |  | — |  |  | — |  |  | — |  |  | 175 |
Loss on sale of assets | 427 |  |  | — |  |  | — |  |  | — |  |  | 427 |
| 39,822 |  |  | 234 |  |  | — |  |  | — |  |  | 40,056 |
INCOME (LOSS) FROM OPERATIONS | 14,840 |  |  | 104 |  |  | — |  |  | — |  |  | 14,944 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |
Interest expense | 3,479 |  |  | — |  |  | — |  |  | — |  |  | 3,479 |
Interest income | (79 | ) |  | — |  |  | — |  |  | — |  |  | (79 | )
(Income) loss from equity method investments and investments in subsidiaries | (61,314 | ) |  | — |  |  | 532 |  |  | (428 | ) |  | (61,210 | )
| (57,914 | ) |  | — |  |  | 532 |  |  | (428 | ) |  | (57,810 | )
INCOME (LOSS) FROM COTINUING OPERATIONS BEFORE INCOME TAXES | 72,754 |  |  | 104 |  |  | (532 | ) |  | 428 |  |  | 72,754 |
INCOME TAX EXPENSE | 28,195 |  |  | — |  |  | — |  |  | — |  |  | 28,195 |
NET INCOME (LOSS) | $ | 44,559 |  |  | $ | 104 |  |  | $ | (532 | ) |  | $ | 428 |  |  | $ | 44,559 |
Condensed Consolidating Statements of Comprehensive Income (Loss) |
| Three months ended March 31, 2014
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Net income (loss) | $ | 82,558 |  |  | $ | (128 | ) |  | $ | (1,997 | ) |  | $ | 2,125 |  |  | $ | 82,558 |
Foreign currency translation adjustment | (7,278 | ) |  | — |  |  | (7,278 | ) |  | 7,278 |  |  | (7,278 | )
Other comprehensive income (loss) | (7,278 | ) |  | — |  |  | (7,278 | ) |  | 7,278 |  |  | (7,278 | )
Comprehensive income (loss) | $ | 75,280 |  |  | $ | (128 | ) |  | $ | (9,275 | ) |  | $ | 9,403 |  |  | $ | 75,280 |
| Three months ended March 31, 2013
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Net income (loss) | $ | 44,559 |  |  | $ | 104 |  |  | $ | (532 | ) |  | $ | 428 |  |  | $ | 44,559 |
Foreign currency translation adjustment | (3,567 | ) |  | — |  |  | (3,567 | ) |  | 3,567 |  |  | (3,567 | )
Change in fair value of derivative instruments, net of taxes | (1,430 | ) |  | — |  |  | — |  |  | — |  |  | (1,430 | )
Reclassification of settled contracts, net of taxes | 1,797 |  |  | — |  |  | — |  |  | — |  |  | 1,797 |
Other comprehensive income (loss) | (3,200 | ) |  | — |  |  | (3,567 | ) |  | 3,567 |  |  | (3,200 | )
Comprehensive income (loss) | $ | 41,359 |  |  | $ | 104 |  |  | $ | (4,099 | ) |  | $ | 3,995 |  |  | $ | 41,359 |
Condensed Consolidating Statements of Cash Flows |
| Three months ended March 31, 2014
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Net cash provided by operating activities | $ | 159,736 |  |  | $ | (3,585 | ) |  | $ | (1 | ) |  | $ | — |  |  | $ | 156,150 |
Net cash provided by (used in) investing activities | (443,079 | ) |  | (2,034 | ) |  | (8,069 | ) |  | 8,070 |  |  | (445,112 | )
Net cash provided by (used in) financing activities | 388 |  |  | — |  |  | 8,070 |  |  | (8,070 | ) |  | 388 |
Net increase in cash and cash equivalents | (282,955 | ) |  | (5,619 | ) |  | — |  |  | — |  |  | (288,574 | )
Cash and cash equivalents at beginning of period | 451,431 |  |  | 7,525 |  |  | — |  |  | — |  |  | 458,956 |
Cash and cash equivalents at end of period | $ | 168,476 |  |  | $ | 1,906 |  |  | $ | — |  |  | $ | — |  |  | $ | 170,382 |
| Three months ended March 31, 2013
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities | $ | 35,682 |  |  | $ | (675 | ) |  | $ | — |  |  | $ | — |  |  | $ | 35,007 |
Net cash provided by (used in) investing activities | (332,807 | ) |  | (410 | ) |  | (7,529 | ) |  | 7,530 |  |  | (333,216 | )
Net cash provided by (used in) financing activities | 357,101 |  |  | — |  |  | 7,530 |  |  | (7,530 | ) |  | 357,101 |
Net increase (decrease) in cash and cash equivalents | 59,976 |  |  | (1,085 | ) |  | 1 |  |  | — |  |  | 58,892 |
Cash and cash equivalents at beginning of period | 165,293 |  |  | 1,795 |  |  | — |  |  | — |  |  | 167,088 |
Cash and cash equivalents at end of period | $ | 225,269 |  |  | $ | 710 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 225,980 |

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