Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEETS

(Amounts in thousands)



	December 31, 2016
	Parent			Guarantors			Non-Guarantor			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	1,273,882		$	1,993		$	—		$	—		$	1,275,875
Restricted Cash	185,000			—			—			—			185,000
Accounts receivable - oil and gas	137,087			37,496			—			(37,822		)	136,761
Accounts receivable - related parties	16			—			—			—			16
Accounts receivable - intercompany	449,517			1,151			—			(450,668		)	—
Prepaid expenses and other current assets	6,230			1,409			—			—			7,639
Short-term derivative instruments	3,488			—			—			—			3,488
Total current assets	2,055,220			42,049			—			(488,490		)	1,608,779
Property and equipment:
Oil and natural gas properties, full-cost accounting	5,655,125			417,524			—			(729		)	6,071,920
Other property and equipment	68,943			43			—			—			68,986
Accumulated depletion, depreciation, amortization and impairment	(3,789,746		)	(34		)	—			—			(3,789,780		)
Property and equipment, net	1,934,322			417,533			—			(729		)	2,351,126
Other assets:
Equity investments and investments in subsidiaries	236,327			33,590			45,213			(71,210		)	243,920
Long-term derivative instruments	5,696			—			—			—			5,696
Deferred tax asset	4,692			—			—			—			4,692
Other assets	8,932			—			—			—			8,932
Total other assets	255,647			33,590			45,213			(71,210		)	263,240
Total assets	$	4,245,189		$	493,172		$	45,213		$	(560,429	)	$	4,223,145

Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable and accrued liabilities	$	255,966		$	9,158		$	—		$	—		$	265,124
Accounts payable - intercompany	31,202			457,163			126			(488,491		)	—
Asset retirement obligation	195			—			—			—			195
Derivative instruments	119,219			—			—			—			119,219
Current maturities of long-term debt	276			—			—			—			276
Total current liabilities	406,858			466,321			126			(488,491		)	384,814
Long-term derivative instrument	26,759			—			—			—			26,759
Asset retirement obligation	34,081			—			—			—			34,081
Long-term debt, net of current maturities	1,593,599			—			—			—			1,593,599
Total liabilities	2,061,297			466,321			126			(488,491		)	2,039,253

Stockholders' equity:
Common stock	1,588			—			—			—			1,588
Paid-in capital	3,946,442			33,822			257,026			(290,848		)	3,946,442
Accumulated other comprehensive (loss) income	(53,058		)	—			(50,931		)	50,931			(53,058		)
Retained (deficit) earnings	(1,711,080		)	(6,971		)	(161,008		)	167,979			(1,711,080		)
Total stockholders' equity	2,183,892			26,851			45,087			(71,938		)	2,183,892
Total liabilities and stockholders' equity	$	4,245,189		$	493,172		$	45,213		$	(560,429	)	$	4,223,145

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	75			—			—			—			75
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	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 Statements of Operations

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

(Amounts in thousands)



	Year Ended December 31, 2016
	Parent			Guarantors			Non-Guarantor			Eliminations			Consolidated

Total revenues	$	381,931		$	3,979		$	—		$	—		$	385,910

Costs and expenses:
Lease operating expenses	68,034			843			—			—			68,877
Production taxes	13,121			155			—			—			13,276
Midstream gathering and processing	165,400			572			—			—			165,972
Depreciation, depletion and amortization	245,970			4			—			—			245,974
Impairment of oil and gas properties	715,495			—			—			—			715,495
General and administrative	43,896			(490		)	3			—			43,409
Accretion expense	1,057			—			—			—			1,057
	1,252,973			1,084			3			—			1,254,060

(LOSS) INCOME FROM OPERATIONS	(871,042		)	2,895			(3		)	—			(868,150		)

OTHER (INCOME) EXPENSE:
Interest expense	63,529			1			—			—			63,530
Interest income	(1,230		)	—			—			—			(1,230		)
Insurance proceeds	(5,718		)	—			—			—			(5,718		)
Loss on debt extinguishment	23,776			—			—			—			23,776
Loss (income) from equity method investments and investments in subsidiaries	31,078			(89		)	25,150			(22,154		)	33,985
Other expense (income)	145			(16		)	—			—			129
	111,580			(104		)	25,150			(22,154		)	114,472

(LOSS) INCOME BEFORE INCOME TAXES	(982,622		)	2,999			(25,153		)	22,154			(982,622		)
INCOME TAX BENEFIT	(2,913		)	—			—			—			(2,913		)

NET (LOSS) INCOME	$	(979,709	)	$	2,999		$	(25,153	)	$	22,154		$	(979,709	)

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

(Amounts in thousands)



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

Total revenues	$	707,868		$	1,122		$	—		$	—		$	708,990

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	(1,334,727		)	33			(20		)	—			(1,334,714		)

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
Other expense (income)	(1,657		)	(346		)	—			1,518			(485		)
	146,158			(346		)	115,544			(115,185		)	146,171

(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	$	668,961		$	1,801		$	—		$	—		$	670,762

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	225,494			131			2			—			225,627

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		)
Other (income) expense	(106		)	(398		)	—			—			(504		)
	(175,250		)	(398		)	13,159			(12,628		)	(175,117		)

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 Comprehensive Income (Loss)



	Year Ended December 31, 2016
	Parent			Guarantors		Non-Guarantor			Eliminations			Consolidated

Net (loss) income	$	(979,709	)	$	2,999	$	(25,153	)	$	22,154		$	(979,709	)
Foreign currency translation adjustment	2,119			778		1,341			(2,119		)	2,119
Other comprehensive income (loss)	2,119			778		1,341			(2,119		)	2,119
Comprehensive (loss) income	$	(977,590	)	$	3,777	$	(23,812	)	$	20,035		$	(977,590	)



	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

Condensed Consolidating Statements of Cash Flows



	Year Ended December 31, 2016
	Parent			Guarantors			Non-Guarantor			Eliminations			Consolidated

Net cash provided by (used in) operating activities	$	336,330		$	(9,486	)	$	(2	)	$	11,001		$	337,843

Net cash (used in) provided by investing activities	(905,582		)	(22,500		)	(15,472		)	37,972			(905,582		)

Net cash provided by (used in) financing activities	1,730,640			33,500			15,473			(48,973		)	1,730,640

Net increase (decrease) in cash and cash equivalents	1,161,388			1,514			(1		)	—			1,162,901

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

Cash and cash equivalents at end of period	$	1,273,882		$	1,993		$	—		$	—		$	1,275,875



	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