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Condensed Consolidating Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Balance Sheets | CONDENSED CONSOLIDATING BALANCE SHEETS (Amounts in thousands)
| March 31, 2017
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 71,934 |  |  | $ | 30,550 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 102,485 |
Accounts receivable - oil and gas | 106,008 |  |  | 52,146 |  |  | — |  |  | — |  |  | 158,154 |
Accounts receivable - related parties | 39 |  |  | — |  |  | — |  |  | — |  |  | 39 |
Accounts receivable - intercompany | 447,275 |  |  | 35,434 |  |  | — |  |  | (482,709 | ) |  | — |
Prepaid expenses and other current assets | 12,330 |  |  | 3,675 |  |  | — |  |  | — |  |  | 16,005 |
Short-term derivative instruments | 18,925 |  |  | — |  |  | — |  |  | — |  |  | 18,925 |
Total current assets | 656,511 |  |  | 121,805 |  |  | 1 |  |  | (482,709 | ) |  | 295,608 |
Property and equipment: |  |  |  |  |  |  |  |  |
Oil and natural gas properties, full-cost accounting | 5,869,066 |  |  | 2,277,984 |  |  | — |  |  | (729 | ) |  | 8,146,321 |
Other property and equipment | 75,064 |  |  | 43 |  |  | — |  |  | — |  |  | 75,107 |
Accumulated depletion, depreciation, amortization and impairment | (3,855,594 | ) |  | (35 | ) |  | — |  |  | — |  |  | (3,855,629 | )
Property and equipment, net | 2,088,536 |  |  | 2,277,992 |  |  | — |  |  | (729 | ) |  | 4,365,799 |
Other assets: |  |  |  |  |  |  |  |  |
Equity investments and investments in subsidiaries | 2,120,462 |  |  | 40,661 |  |  | 46,838 |  |  | (1,956,591 | ) |  | 251,370 |
Long-term derivative instruments | 23,515 |  |  | — |  |  | — |  |  | — |  |  | 23,515 |
Deferred tax asset | 4,692 |  |  | — |  |  | — |  |  | — |  |  | 4,692 |
Other assets | 8,765 |  |  | 4,180 |  |  | — |  |  | — |  |  | 12,945 |
Total other assets | 2,157,434 |  |  | 44,841 |  |  | 46,838 |  |  | (1,956,591 | ) |  | 292,522 |
Total assets | $ | 4,902,481 |  |  | $ | 2,444,638 |  |  | $ | 46,839 |  |  | $ | (2,440,029 | ) |  | $ | 4,953,929 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 326,175 |  |  | $ | 79,964 |  |  | $ | — |  |  | $ | — |  |  | $ | 406,139 |
Accounts payable - intercompany | 35,005 |  |  | 447,577 |  |  | 127 |  |  | (482,709 | ) |  | — |
Asset retirement obligation | 195 |  |  | — |  |  | — |  |  | — |  |  | 195 |
Derivative instruments | 67,179 |  |  | — |  |  | — |  |  | — |  |  | 67,179 |
Current maturities of long-term debt | 452 |  |  | — |  |  | — |  |  | — |  |  | 452 |
Total current liabilities | 429,006 |  |  | 527,541 |  |  | 127 |  |  | (482,709 | ) |  | 473,965 |
Long-term derivative instrument | 5,259 |  |  | — |  |  | — |  |  | — |  |  | 5,259 |
Asset retirement obligation | 34,653 |  |  | 6,489 |  |  | — |  |  | — |  |  | 41,142 |
Long-term debt, net of current maturities | 1,631,809 |  |  | — |  |  | — |  |  | — |  |  | 1,631,809 |
Total liabilities | 2,100,727 |  |  | 534,030 |  |  | 127 |  |  | (482,709 | ) |  | 2,152,175 |
Stockholders’ equity: |  |  |  |  |  |  |  |  |
Common stock | 1,828 |  |  | — |  |  | — |  |  | — |  |  | 1,828 |
Paid-in capital | 4,408,236 |  |  | 1,872,598 |  |  | 257,700 |  |  | (2,130,298 | ) |  | 4,408,236 |
Accumulated other comprehensive (loss) income | (51,685 | ) |  | — |  |  | (49,613 | ) |  | 49,613 |  |  | (51,685 | )
Retained (deficit) earnings | (1,556,625 | ) |  | 38,010 |  |  | (161,375 | ) |  | 123,365 |  |  | (1,556,625 | )
Total stockholders’ equity | 2,801,754 |  |  | 1,910,608 |  |  | 46,712 |  |  | (1,957,320 | ) |  | 2,801,754 |
Total liabilities and stockholders’ equity | $ | 4,902,481 |  |  | $ | 2,444,638 |  |  | $ | 46,839 |  |  | $ | (2,440,029 | ) |  | $ | 4,953,929 |
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 Statements of Operations | CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Amounts in thousands)
| Three months ended March 31, 2017
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Total revenues | $ | 272,441 |  |  | $ | 60,563 |  |  | $ | — |  |  | $ | — |  |  | $ | 333,004 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Lease operating expenses | 17,449 |  |  | 1,854 |  |  | — |  |  | — |  |  | 19,303 |
Production taxes | 3,102 |  |  | 804 |  |  | — |  |  | — |  |  | 3,906 |
Midstream gathering and processing | 37,724 |  |  | 10,217 |  |  | — |  |  | — |  |  | 47,941 |
Depreciation, depletion, and amortization | 65,990 |  |  | 1 |  |  | — |  |  | — |  |  | 65,991 |
General and administrative | 12,874 |  |  | (275 | ) |  | 1 |  |  | — |  |  | 12,600 |
Accretion expense | 282 |  |  | — |  |  | — |  |  | — |  |  | 282 |
Acquisition expense | — |  |  | 1,298 |  |  | — |  |  | — |  |  | 1,298 |
| 137,421 |  |  | 13,899 |  |  | 1 |  |  | — |  |  | 151,321 |
INCOME (LOSS) FROM OPERATIONS | 135,020 |  |  | 46,664 |  |  | (1 | ) |  | — |  |  | 181,683 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |
Interest expense | 25,048 |  |  | (1,569 | ) |  | — |  |  | — |  |  | 23,479 |
Interest income | (842 | ) |  | — |  |  | — |  |  | — |  |  | (842 | )
(Income) loss from equity method investments and investments in subsidiaries | (42,614 | ) |  | 2,541 |  |  | 365 |  |  | 44,615 |  |  | 4,907 |
Other (income) expense | (1,027 | ) |  | (189 | ) |  | — |  |  | 900 |  |  | (316 | )
| (19,435 | ) |  | 783 |  |  | 365 |  |  | 45,515 |  |  | 27,228 |
INCOME (LOSS) BEFORE INCOME TAXES | 154,455 |  |  | 45,881 |  |  | (366 | ) |  | (45,515 | ) |  | 154,455 |
INCOME TAX EXPENSE | — |  |  | — |  |  | — |  |  | — |  |  | — |
NET INCOME (LOSS) | $ | 154,455 |  |  | $ | 45,881 |  |  | $ | (366 | ) |  | $ | (45,515 | ) |  | $ | 154,455 |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Amounts in thousands)
| Three months ended March 31, 2016
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Total revenues | $ | 156,751 |  |  | $ | 210 |  |  | $ | — |  |  | $ | — |  |  | $ | 156,961 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Lease operating expenses | 16,472 |  |  | 185 |  |  | — |  |  | — |  |  | 16,657 |
Production taxes | 3,087 |  |  | 24 |  |  | — |  |  | — |  |  | 3,111 |
Midstream gathering and processing | 37,623 |  |  | 29 |  |  | — |  |  | — |  |  | 37,652 |
Depreciation, depletion, and amortization | 65,476 |  |  | 1 |  |  | — |  |  | — |  |  | 65,477 |
Impairment of oil and gas properties | 218,991 |  |  | — |  |  | — |  |  | — |  |  | 218,991 |
General and administrative | 10,612 |  |  | 6 |  |  | 2 |  |  | — |  |  | 10,620 |
Accretion expense | 247 |  |  | — |  |  | — |  |  | — |  |  | 247 |
| 352,508 |  |  | 245 |  |  | 2 |  |  | — |  |  | 352,755 |
LOSS FROM OPERATIONS | (195,757 | ) |  | (35 | ) |  | (2 | ) |  | — |  |  | (195,794 | )
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |
Interest expense | 16,022 |  |  | 1 |  |  | — |  |  | — |  |  | 16,023 |
Interest income | (94 | ) |  | — |  |  | — |  |  | — |  |  | (94 | )
Loss (income) from equity method investments and investments in subsidiaries | 30,773 |  |  | — |  |  | 23,685 |  |  | (23,721 | ) |  | 30,737 |
Other income | — |  |  | (2 | ) |  | — |  |  | — |  |  | (2 | )
| 46,701 |  |  | (1 | ) |  | 23,685 |  |  | (23,721 | ) |  | 46,664 |
(LOSS) INCOME BEFORE INCOME TAXES | (242,458 | ) |  | (34 | ) |  | (23,687 | ) |  | 23,721 |  |  | (242,458 | )
INCOME TAX BENEFIT | (191 | ) |  |  |  |  |  |  |  |  |  |  | (191 | )
NET (LOSS) INCOME | $ | (242,267 | ) |  | $ | (34 | ) |  | $ | (23,687 | ) |  | $ | 23,721 |  |  | $ | (242,267 | )
Condensed Consolidating Statements of Comprehensive Income (Loss) | CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Amounts in thousands)
| Three months ended March 31, 2017
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Net income (loss) | $ | 154,455 |  |  | $ | 45,881 |  |  | $ | (366 | ) |  | $ | (45,515 | ) |  | $ | 154,455 |
Foreign currency translation adjustment | 1,373 |  |  | 55 |  |  | 1,318 |  |  | (1,373 | ) |  | 1,373 |
Other comprehensive income (loss) | 1,373 |  |  | 55 |  |  | 1,318 |  |  | (1,373 | ) |  | 1,373 |
Comprehensive income (loss) | $ | 155,828 |  |  | $ | 45,936 |  |  | $ | 952 |  |  | $ | (46,888 | ) |  | $ | 155,828 |
| Three months ended March 31, 2016
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Net (loss) income | $ | (242,267 | ) |  | $ | (34 | ) |  | $ | (23,687 | ) |  | $ | 23,721 |  |  | $ | (242,267 | )
Foreign currency translation adjustment | 9,058 |  |  | — |  |  | 10,273 |  |  | (10,273 | ) |  | 9,058 |
Other comprehensive income (loss) | 9,058 |  |  | — |  |  | 10,273 |  |  | (10,273 | ) |  | 9,058 |
Comprehensive (loss) income | $ | (233,209 | ) |  | $ | (34 | ) |  | $ | (13,414 | ) |  | $ | 13,448 |  |  | $ | (233,209 | )
Condensed Consolidating Statements of Cash Flows | CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (Amounts in thousands)
| Three months ended March 31, 2017
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities | $ | 139,260 |  |  | $ | 3,384 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 142,645 |
Net cash (used in) provided by investing activities | (1,372,852 | ) |  | (1,348,964 | ) |  | (673 | ) |  | 1,374,810 |  |  | (1,347,679 | )
Net cash provided by (used in) financing activities | 31,644 |  |  | 1,374,137 |  |  | 673 |  |  | (1,374,810 | ) |  | 31,644 |
Net (decrease) increase in cash and cash equivalents | (1,201,948 | ) |  | 28,557 |  |  | 1 |  |  | — |  |  | (1,173,390 | )
Cash and cash equivalents at beginning of period | 1,273,882 |  |  | 1,993 |  |  | — |  |  | — |  |  | 1,275,875 |
Cash and cash equivalents at end of period | $ | 71,934 |  |  | $ | 30,550 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 102,485 |
| Three months ended March 31, 2016
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities | $ | 83,620 |  |  | $ | 155 |  |  | $ | (1 | ) |  | $ | — |  |  | $ | 83,774 |
Net cash (used in) provided by investing activities | (157,529 | ) |  | (22,500 | ) |  | (1,821 | ) |  | 24,321 |  |  | (157,529 | )
Net cash provided by (used in) financing activities | 415,158 |  |  | 22,500 |  |  | 1,821 |  |  | (24,321 | ) |  | 415,158 |
Net increase (decrease) in cash and cash equivalents | 341,249 |  |  | 155 |  |  | (1 | ) |  | — |  |  | 341,403 |
Cash and cash equivalents at beginning of period | 112,494 |  |  | 479 |  |  | 1 |  |  | — |  |  | 112,974 |
Cash and cash equivalents at end of period | $ | 453,743 |  |  | $ | 634 |  |  | $ | — |  |  | $ | — |  |  | $ | 454,377 |

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