Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEETS

(Amounts in thousands)



	December 31, 2015
	Parent			Guarantors			Non-Guarantor			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	112,494		$	479		$	1		$	—		$	112,974
Accounts receivable - oil and gas	72,241			54			—			(423		)	71,872
Accounts receivable - related parties	16			—			—			—			16
Accounts receivable - intercompany	326,475			60			—			(326,535		)	—
Prepaid expenses and other current assets	3,905			—			—			—			3,905
Short-term derivative instruments	142,794			—			—			—			142,794
Total current assets	657,925			593			1			(326,958		)	331,561
Property and equipment:
Oil and natural gas properties, full-cost accounting	5,108,258			316,813			—			(729		)	5,424,342
Other property and equipment	33,128			43			—			—			33,171
Accumulated depletion, depreciation, amortization and impairment	(2,829,081		)	(29		)	—			—			(2,829,110		)
Property and equipment, net	2,312,305			316,827			—			(729		)	2,628,403
Other assets:
Equity investments and investments in subsidiaries	231,892			—			50,644			(40,143		)	242,393
Long-term derivative instruments	51,088			—			—			—			51,088
Deferred tax asset	74,925			—			—			—			74,925
Other assets	6,364			—			—			—			6,364
Total other assets	364,269			—			50,644			(40,143		)	374,770
Total assets	$	3,334,499		$	317,420		$	50,645		$	(367,830	)	$	3,334,734

Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable and accrued liabilities	$	264,893		$	527		$	—		$	(292	)	$	265,128
Accounts payable - intercompany	—			326,541			124			(326,665		)	—
Asset retirement obligation - current	75			—			—			—			75
Short-term derivative instruments	437			—			—			—			437
Deferred tax liability	50,697			—			—			—			50,697
Current maturities of long-term debt	179			—			—			—			179
Total current liabilities	316,281			327,068			124			(326,957		)	316,516
Long-term derivative instrument	6,935			—			—			—			6,935
Asset retirement obligation - long-term	26,362			—			—			—			26,362
Long-term debt, net of current maturities	946,084			—			—			—			946,084
Total liabilities	1,295,662			327,068			124			(326,957		)	1,295,897

Stockholders' equity:
Common stock	1,082			—			—			—			1,082
Paid-in capital	2,824,303			322			241,553			(241,875		)	2,824,303
Accumulated other comprehensive (loss) income	(55,177		)	—			(55,177		)	55,177			(55,177		)
Retained (deficit) earnings	(731,371		)	(9,970		)	(135,855		)	145,825			(731,371		)
Total stockholders' equity	2,038,837			(9,648		)	50,521			(40,873		)	2,038,837
Total liabilities and stockholders' equity	$	3,334,499		$	317,420		$	50,645		$	(367,830	)	$	3,334,734

CONDENSED CONSOLIDATING BALANCE SHEETS

(Amounts in thousands)



	December 31, 2014
	Parent			Guarantors			Non-Guarantor			Eliminations			Consolidated
Assets
Current assets
Cash and cash equivalents	$	141,535		$	804		$	1		$	—		$	142,340
Accounts receivable - oil and gas	103,762			96			—			—			103,858
Accounts receivable - related parties	46			—			—			—			46
Accounts receivable - intercompany	45,222			27			—			(45,249		)	—
Prepaid expenses and other current assets	3,714			—			—			—			3,714
Short-term derivative instruments	78,391			—			—			—			78,391
Total current assets	372,670			927			1			(45,249		)	328,349

Property and equipment:
Oil and natural gas properties, full-cost accounting,	3,887,874			35,990			—			(710		)	3,923,154
Other property and equipment	18,301			43			—			—			18,344
Accumulated depletion, depreciation, amortization and impairment	(1,050,855		)	(24		)	—			—			(1,050,879		)
Property and equipment, net	2,855,320			36,009			—			(710		)	2,890,619
Other assets:
Equity investments and investments in subsidiaries	360,238			—			180,217			(170,874		)	369,581
Long-term derivative instruments	24,448			—			—			—			24,448
Other assets	6,476			—			—			—			6,476
Total other assets	391,162			—			180,217			(170,874		)	400,505
Total assets	$	3,619,152		$	36,936		$	180,218		$	(216,833	)	$	3,619,473

Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable and accrued liabilities	$	371,089		$	321		$	—		$	—		$	371,410
Accounts payable - intercompany	—			45,143			106			(45,249		)	—
Asset retirement obligation - current	75			—			—			—			75
Deferred tax liability	27,070			—			—			—			27,070
Current maturities of long-term debt	168			—			—			—			168
Total current liabilities	398,402			45,464			106			(45,249		)	398,723

Asset retirement obligation - long-term	17,863			—			—			—			17,863
Deferred tax liability	203,195			—			—			—			203,195
Long-term debt, net of current maturities	703,396			—			—			—			703,396
Total liabilities	1,322,856			45,464			106			(45,249		)	1,323,177

Stockholders' equity:
Common stock	856			—			—			—			856
Paid-in capital	1,828,602			322			227,079			(227,401		)	1,828,602
Accumulated other comprehensive (loss) income	(26,675		)	—			(26,675		)	26,675			(26,675		)
Retained earnings (deficit)	493,513			(8,850		)	(20,292		)	29,142			493,513
Total stockholders' equity	2,296,296			(8,528		)	180,112			(171,584		)	2,296,296
Total liabilities and stockholders' equity	$	3,619,152		$	36,936		$	180,218		$	(216,833	)	$	3,619,473

Condensed Consolidating Statements of Operations

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

(Amounts in thousands)



	Year Ended December 31, 2015
	Parent			Guarantors		Non-Guarantor			Eliminations			Consolidated

Total revenues	$	709,525		$	1,468	$	—		$	(1,518	)	$	709,475

Costs and expenses:
Lease operating expenses	68,632			843		—			—			69,475
Production taxes	14,618			122		—			—			14,740
Midstream gathering and processing	138,526			64		—			—			138,590
Depreciation, depletion and amortization	337,689			5		—			—			337,694
Impairment of oil and gas properties	1,440,418			—		—			—			1,440,418
General and administrative	41,892			55		20			—			41,967
Accretion expense	820			—		—			—			820
	2,042,595			1,089		20			—			2,043,704

(LOSS) INCOME FROM OPERATIONS	(1,333,070		)	379		(20		)	(1,518		)	(1,334,229		)

OTHER (INCOME) EXPENSE:
Interest expense	51,221			—		—			—			51,221
Interest income	(643		)	—		—			—			(643		)
Insurance proceeds	(10,015		)	—		—			—			(10,015		)
Loss (income) from equity method investments and investments in subsidiaries	107,252			—		115,544			(116,703		)	106,093
	147,815			—		115,544			(116,703		)	146,656

(LOSS) INCOME BEFORE INCOME TAXES	(1,480,885		)	379		(115,564		)	115,185			(1,480,885		)
INCOME TAX BENEFIT	(256,001		)	—		—			—			(256,001		)

NET (LOSS) INCOME	$	(1,224,884	)	$	379	$	(115,564	)	$	115,185		$	(1,224,884	)

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

(Amounts in thousands)



	Year Ended December 31, 2014
	Parent			Guarantors		Non-Guarantor			Eliminations			Consolidated

Total revenues	$	669,067		$	2,199	$	—		$	—		$	671,266

Costs and expenses:
Lease operating expenses	51,238			953		—			—			52,191
Production taxes	23,803			203		—			—			24,006
Midstream gathering and processing	64,402			65		—			—			64,467
Depreciation, depletion and amortization	265,428			3		—			—			265,431
General and administrative	37,846			446		(2		)	—			38,290
Accretion expense	761			—		—			—			761
Gain on sale of assets	(11		)	—		—			—			(11		)
	443,467			1,670		(2		)	—			445,135

INCOME FROM OPERATIONS	225,600			529		2			—			226,131

OTHER (INCOME) EXPENSE:
Interest expense	23,986			—		—			—			23,986
Interest income	(195		)	—		—			—			(195		)
Litigation settlement	25,500			—		—			—			25,500
Gain on contribution of investments	(84,470		)	—		—			—			(84,470		)
(Income) loss from equity method investments and investments in subsidiaries	(139,965		)	—		13,159			(12,628		)	(139,434		)
	(175,144		)	—		13,159			(12,628		)	(174,613		)

INCOME (LOSS) BEFORE INCOME TAXES	400,744			529		(13,157		)	12,628			400,744
INCOME TAX EXPENSE	153,341			—		—			—			153,341

NET INCOME (LOSS)	$	247,403		$	529	$	(13,157	)	$	12,628		$	247,403

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

(Amounts in thousands)



	Year Ended December 31, 2013
	Parent			Guarantors		Non-Guarantor			Eliminations			Consolidated

Total revenues	$	261,809		$	1,517	$	—		$	(573	)	$	262,753

Costs and expenses:
Lease operating expenses	25,971			732		—			—			26,703
Production taxes	26,848			85		—			—			26,933
Midstream gathering and processing	10,999			31		—			—			11,030
Depreciation, depletion and amortization	118,878			2		—			—			118,880
General and administrative	22,359			159		1			—			22,519
Accretion expense	717			—		—			—			717
Loss on sale of assets	508			—		—			—			508
	206,280			1,009		1			—			207,290

INCOME (LOSS) FROM OPERATIONS	55,529			508		(1		)	(573		)	55,463

OTHER (INCOME) EXPENSE:
Interest expense	17,490			—		—			—			17,490
Interest income	(297		)	—		—			—			(297		)
(Income) loss from equity method investments and investments in subsidiaries	(212,992		)	—		2,999			(3,065		)	(213,058		)
	(195,799		)	—		2,999			(3,065		)	(195,865		)

INCOME (LOSS) BEFORE INCOME TAXES	251,328			508		(3,000		)	2,492			251,328
INCOME TAX EXPENSE	98,136			—		—			—			98,136

NET INCOME (LOSS)	$	153,192		$	508	$	(3,000	)	$	2,492		$	153,192

Condensed Consolidating Statements of Comprehensive Income (Loss)



	Year Ended December 31, 2015
	Parent			Guarantors		Non-Guarantor			Eliminations		Consolidated

Net (loss) income	$	(1,224,884	)	$	379	$	(115,564	)	$	115,185	$	(1,224,884	)
Foreign currency translation adjustment	(28,502		)	—		(28,502		)	28,502		(28,502		)
Other comprehensive (loss) income	(28,502		)	—		(28,502		)	28,502		(28,502		)
Comprehensive (loss) income	$	(1,253,386	)	$	379	$	(144,066	)	$	143,687	$	(1,253,386	)



	Year Ended December 31, 2014
	Parent			Guarantors		Non-Guarantor			Eliminations		Consolidated

Net income (loss)	$	247,403		$	529	$	(13,157	)	$	12,628	$	247,403
Foreign currency translation adjustment	(16,894		)	—		(16,894		)	16,894		(16,894		)
Other comprehensive (loss) income	(16,894		)	—		(16,894		)	16,894		(16,894		)
Comprehensive income (loss)	$	230,509		$	529	$	(30,051	)	$	29,522	$	230,509



	Year Ended December 31, 2013
	Parent			Guarantors		Non-Guarantor			Eliminations		Consolidated

Net income (loss)	$	153,192		$	508	$	(3,000	)	$	2,492	$	153,192
Foreign currency translation adjustment	(12,223		)	—		(12,223		)	12,223		(12,223		)
Change in fair value of derivative instruments, net of taxes	(4,419		)	—		—			—		(4,419		)
Reclassification of settled contracts, net of taxes	10,290			—		—			—		10,290
Other comprehensive (loss) income	(6,352		)	—		(12,223		)	12,223		(6,352		)
Comprehensive income (loss)	$	146,840		$	508	$	(15,223	)	$	14,715	$	146,840

Condensed Consolidating Statements of Cash Flows



	Year Ended December 31, 2015
	Parent			Guarantors			Non-Guarantor			Eliminations			Consolidated

Net cash provided by (used in) operating activities	$	344,018		$	(21,839	)	$	(2	)	$	2		$	322,179

Net cash (used in) provided by investing activities	(1,595,767		)	21,514			(14,472		)	14,472			(1,574,253		)

Net cash provided by (used in) financing activities	1,222,708			—			14,474			(14,474		)	1,222,708

Net decrease in cash and cash equivalents	(29,041		)	(325		)	—			—			(29,366		)

Cash and cash equivalents at beginning of period	141,535			804			1			—			142,340

Cash and cash equivalents at end of period	$	112,494		$	479		$	1		$	—		$	112,974



	Year Ended December 31, 2014
	Parent			Guarantors			Non-Guarantor			Eliminations			Consolidated

Net cash provided by (used in) operating activities	$	388,177		$	21,698		$	(2	)	$	—		$	409,873

Net cash (used in) provided by investing activities	(1,108,241		)	(28,419		)	(18,799		)	18,802			(1,136,657		)

Net cash provided by (used in) financing activities	410,168			—			18,802			(18,802		)	410,168

Net (decrease) increase in cash and cash equivalents	(309,896		)	(6,721		)	1			—			(316,616		)

Cash and cash equivalents at beginning of period	451,431			7,525			—			—			458,956

Cash and cash equivalents at end of period	$	141,535		$	804		$	1		$	—		$	142,340



	Year Ended December 31, 2013
	Parent			Guarantors			Non-Guarantor			Eliminations			Consolidated

Net cash provided by operating activities	$	182,961		$	8,104		$	—		$	—		$	191,065

Net cash (used in) provided by investing activities	(661,886		)	(2,374		)	(33,929		)	33,929			(664,260		)

Net cash provided by (used in) financing activities	765,063			—			33,929			(33,929		)	765,063

Net increase in cash and cash equivalents	286,138			5,730			—			—			291,868

Cash and cash equivalents at beginning of period	165,293			1,795			—			—			167,088

Cash and cash equivalents at end of period	$	451,431		$	7,525		$	—		$	—		$	458,956