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Condensed Consolidating Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Balance Sheets | The following condensed consolidating balance sheets, statements of operations, statements of comprehensive income (loss) and statements of cash flows are provided for the Parent, the Guarantors and the Non-Guarantor and include the consolidating adjustments and eliminations necessary to arrive at the information for the Company on a condensed consolidated basis. The information has been presented using the equity method of accounting for the Parent’s ownership of the Guarantors and the Non-Guarantor. CONDENSED CONSOLIDATING BALANCE SHEETS (Amounts in thousands)
| March 31, 2018
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 81,357 |  |  | $ | 37,254 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 118,613 |
Accounts receivable - oil and natural gas | 133,387 |  |  | 66,070 |  |  | — |  |  | — |  |  | 199,457 |
Accounts receivable - intercompany | 585,111 |  |  | 64,492 |  |  | — |  |  | (649,603 | ) |  | — |
Prepaid expenses and other current assets | 6,115 |  |  | 1,449 |  |  | — |  |  | — |  |  | 7,564 |
Short-term derivative instruments | 50,906 |  |  | — |  |  | — |  |  | — |  |  | 50,906 |
Total current assets | 856,876 |  |  | 169,265 |  |  | 2 |  |  | (649,603 | ) |  | 376,540 |
Property and equipment: |  |  |  |  |  |  |  |  |
Oil and natural gas properties, full-cost accounting | 6,769,164 |  |  | 2,702,262 |  |  | — |  |  | (729 | ) |  | 9,470,697 |
Other property and equipment | 89,597 |  |  | 51 |  |  | — |  |  | — |  |  | 89,648 |
Accumulated depletion, depreciation, amortization and impairment | (4,264,609 | ) |  | (38 | ) |  | — |  |  | — |  |  | (4,264,647 | )
Property and equipment, net | 2,594,152 |  |  | 2,702,275 |  |  | — |  |  | (729 | ) |  | 5,295,698 |
Other assets: |  |  |  |  |  |  |  |  |
Equity investments and investments in subsidiaries | 2,458,237 |  |  | 77,350 |  |  | 53,563 |  |  | (2,277,456 | ) |  | 311,694 |
Long-term derivative instruments | 15,769 |  |  | — |  |  | — |  |  | — |  |  | 15,769 |
Deferred tax asset | — |  |  | — |  |  | — |  |  | — |  |  | — |
Inventories | 6,045 |  |  | 2,460 |  |  | — |  |  | — |  |  | 8,505 |
Other assets | 13,569 |  |  | 6,617 |  |  | — |  |  | — |  |  | 20,186 |
Total other assets | 2,493,620 |  |  | 86,427 |  |  | 53,563 |  |  | (2,277,456 | ) |  | 356,154 |
Total assets | $ | 5,944,648 |  |  | $ | 2,957,967 |  |  | $ | 53,565 |  |  | $ | (2,927,788 | ) |  | $ | 6,028,392 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 443,963 |  |  | $ | 133,585 |  |  | $ | — |  |  | $ | — |  |  | $ | 577,548 |
Accounts payable - intercompany | 64,980 |  |  | 584,495 |  |  | 128 |  |  | (649,603 | ) |  | — |
Asset retirement obligation - current | 120 |  |  | — |  |  | — |  |  | — |  |  | 120 |
Short-term derivative instruments | 37,570 |  |  | — |  |  | — |  |  | — |  |  | 37,570 |
Current maturities of long-term debt | 629 |  |  | — |  |  | — |  |  | — |  |  | 629 |
Total current liabilities | 547,262 |  |  | 718,080 |  |  | 128 |  |  | (649,603 | ) |  | 615,867 |
Long-term derivative instruments | 2,499 |  |  | — |  |  | — |  |  | — |  |  | 2,499 |
Asset retirement obligation - long-term | 64,091 |  |  | 12,176 |  |  | — |  |  | — |  |  | 76,267 |
Deferred tax liability | 2,884 |  |  | — |  |  | — |  |  | — |  |  | 2,884 |
Other non-current liabilities | — |  |  | 2,963 |  |  | — |  |  | — |  |  | 2,963 |
Long-term debt, net of current maturities | 2,239,023 |  |  | — |  |  | — |  |  | — |  |  | 2,239,023 |
Total liabilities | 2,855,759 |  |  | 733,219 |  |  | 128 |  |  | (649,603 | ) |  | 2,939,503 |
Stockholders’ equity: |  |  |  |  |  |  |  |  |
Common stock | 1,735 |  |  | — |  |  | — |  |  | — |  |  | 1,735 |
Paid-in capital | 4,319,034 |  |  | 1,915,598 |  |  | 260,877 |  |  | (2,176,475 | ) |  | 4,319,034 |
Accumulated other comprehensive (loss) income | (46,042 | ) |  | — |  |  | (43,909 | ) |  | 43,909 |  |  | (46,042 | )
Retained (deficit) earnings | (1,185,838 | ) |  | 309,150 |  |  | (163,531 | ) |  | (145,619 | ) |  | (1,185,838 | )
Total stockholders’ equity | 3,088,889 |  |  | 2,224,748 |  |  | 53,437 |  |  | (2,278,185 | ) |  | 3,088,889 |
Total liabilities and stockholders’ equity | $ | 5,944,648 |  |  | $ | 2,957,967 |  |  | $ | 53,565 |  |  | $ | (2,927,788 | ) |  | $ | 6,028,392 |
CONDENSED CONSOLIDATING BALANCE SHEETS (Amounts in thousands)
| December 31, 2017
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 67,908 |  |  | $ | 31,649 |  |  | $ | — |  |  | $ | — |  |  | $ | 99,557 |
Accounts receivable - oil and natural gas | 128,121 |  |  | 54,092 |  |  | — |  |  | — |  |  | 182,213 |
Accounts receivable - intercompany | 554,439 |  |  | 63,374 |  |  | — |  |  | (617,813 | ) |  | — |
Prepaid expenses and other current assets | 4,719 |  |  | 193 |  |  | — |  |  | — |  |  | 4,912 |
Short-term derivative instruments | 78,847 |  |  | — |  |  | — |  |  | — |  |  | 78,847 |
Total current assets | 834,034 |  |  | 149,308 |  |  | — |  |  | (617,813 | ) |  | 365,529 |
Property and equipment: |  |  |  |  |  |  |  |  |
Oil and natural gas properties, full-cost accounting, | 6,562,147 |  |  | 2,607,738 |  |  | — |  |  | (729 | ) |  | 9,169,156 |
Other property and equipment | 86,711 |  |  | 43 |  |  | — |  |  | — |  |  | 86,754 |
Accumulated depletion, depreciation, amortization and impairment | (4,153,696 | ) |  | (37 | ) |  | — |  |  | — |  |  | (4,153,733 | )
Property and equipment, net | 2,495,162 |  |  | 2,607,744 |  |  | — |  |  | (729 | ) |  | 5,102,177 |
Other assets: |  |  |  |  |  |  |  |  |
Equity investments and investments in subsidiaries | 2,361,575 |  |  | 77,744 |  |  | 57,641 |  |  | (2,194,848 | ) |  | 302,112 |
Long-term derivative instruments | 8,685 |  |  | — |  |  | — |  |  | — |  |  | 8,685 |
Deferred tax asset | 1,208 |  |  | — |  |  | — |  |  | — |  |  | 1,208 |
Inventories | 5,816 |  |  | 2,411 |  |  | — |  |  | — |  |  | 8,227 |
Other assets | 12,483 |  |  | 7,331 |  |  | — |  |  | — |  |  | 19,814 |
Total other assets | 2,389,767 |  |  | 87,486 |  |  | 57,641 |  |  | (2,194,848 | ) |  | 340,046 |
Total assets | $ | 5,718,963 |  |  | $ | 2,844,538 |  |  | $ | 57,641 |  |  | $ | (2,813,390 | ) |  | $ | 5,807,752 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 416,249 |  |  | $ | 137,361 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 553,609 |
Accounts payable - intercompany | 63,373 |  |  | 554,313 |  |  | 127 |  |  | (617,813 | ) |  | — |
Asset retirement obligation - current | 120 |  |  | — |  |  | — |  |  | — |  |  | 120 |
Short-term derivative instruments | 32,534 |  |  | — |  |  | — |  |  | — |  |  | 32,534 |
Current maturities of long-term debt | 622 |  |  | — |  |  | — |  |  | — |  |  | 622 |
Total current liabilities | 512,898 |  |  | 691,674 |  |  | 127 |  |  | (617,814 | ) |  | 586,885 |
Long-term derivative instruments | 2,989 |  |  | — |  |  | — |  |  | — |  |  | 2,989 |
Asset retirement obligation - long-term | 63,141 |  |  | 11,839 |  |  | — |  |  | — |  |  | 74,980 |
Other non-current liabilities | — |  |  | 2,963 |  |  | — |  |  | — |  |  | 2,963 |
Long-term debt, net of current maturities | 2,038,321 |  |  | — |  |  | — |  |  | — |  |  | 2,038,321 |
Total liabilities | 2,617,349 |  |  | 706,476 |  |  | 127 |  |  | (617,814 | ) |  | 2,706,138 |
Stockholders’ equity: |  |  |  |  |  |  |  |  |
Common stock | 1,831 |  |  | — |  |  | — |  |  | — |  |  | 1,831 |
Paid-in capital | 4,416,250 |  |  | 1,915,598 |  |  | 259,307 |  |  | (2,174,905 | ) |  | 4,416,250 |
Accumulated other comprehensive (loss) income | (40,539 | ) |  | — |  |  | (38,593 | ) |  | 38,593 |  |  | (40,539 | )
Retained (deficit) earnings | (1,275,928 | ) |  | 222,464 |  |  | (163,200 | ) |  | (59,264 | ) |  | (1,275,928 | )
Total stockholders’ equity | 3,101,614 |  |  | 2,138,062 |  |  | 57,514 |  |  | (2,195,576 | ) |  | 3,101,614 |
Total liabilities and stockholders’ equity | $ | 5,718,963 |  |  | $ | 2,844,538 |  |  | $ | 57,641 |  |  | $ | (2,813,390 | ) |  | $ | 5,807,752 |
Condensed Consolidating Statements of Operations | CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Amounts in thousands)
| Three months ended March 31, 2018
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Total revenues | $ | 213,561 |  |  | $ | 111,831 |  |  | $ | — |  |  | $ | — |  |  | $ | 325,392 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Lease operating expenses | 13,831 |  |  | 5,075 |  |  | — |  |  | — |  |  | 18,906 |
Production taxes | 4,011 |  |  | 2,843 |  |  | — |  |  | — |  |  | 6,854 |
Midstream gathering and processing | 45,666 |  |  | 18,527 |  |  | — |  |  | — |  |  | 64,193 |
Depreciation, depletion and amortization | 111,017 |  |  | 1 |  |  | — |  |  | — |  |  | 111,018 |
General and administrative | 13,811 |  |  | (713 | ) |  | 1 |  |  | — |  |  | 13,099 |
Accretion expense | 790 |  |  | 214 |  |  | — |  |  | — |  |  | 1,004 |
Acquisition expense | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 189,126 |  |  | 25,947 |  |  | 1 |  |  | — |  |  | 215,074 |
INCOME (LOSS) FROM OPERATIONS | 24,435 |  |  | 85,884 |  |  | (1 | ) |  | — |  |  | 110,318 |
OTHER (INCOME) EXPENSE: |  |  |  |  |  |  |  |  |
Interest expense | 34,393 |  |  | (428 | ) |  | — |  |  | — |  |  | 33,965 |
Interest income | (31 | ) |  | (6 | ) |  | — |  |  | — |  |  | (37 | )
(Income) loss from equity method investments and investments in subsidiaries | (99,864 | ) |  | (357 | ) |  | 330 |  |  | 86,355 |  |  | (13,536 | )
Other income | (84 | ) |  | (11 | ) |  | — |  |  | — |  |  | (95 | )
| (65,586 | ) |  | (802 | ) |  | 330 |  |  | 86,355 |  |  | 20,297 |
INCOME (LOSS) BEFORE INCOME TAXES | 90,021 |  |  | 86,686 |  |  | (331 | ) |  | (86,355 | ) |  | 90,021 |
INCOME TAX BENEFIT | (69 | ) |  | — |  |  | — |  |  | — |  |  | (69 | )
NET INCOME (LOSS) | $ | 90,090 |  |  | $ | 86,686 |  |  | $ | (331 | ) |  | $ | (86,355 | ) |  | $ | 90,090 |
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 Comprehensive Income (Loss) | CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Amounts in thousands)
| Three months ended March 31, 2018
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Net income (loss) | $ | 90,090 |  |  | $ | 86,686 |  |  | $ | (331 | ) |  | $ | (86,355 | ) |  | $ | 90,090 |
Foreign currency translation adjustment | (5,503 | ) |  | (187 | ) |  | (5,316 | ) |  | 5,503 |  |  | (5,503 | )
Other comprehensive (loss) income | (5,503 | ) |  | (187 | ) |  | (5,316 | ) |  | 5,503 |  |  | (5,503 | )
Comprehensive income (loss) | $ | 84,587 |  |  | $ | 86,499 |  |  | $ | (5,647 | ) |  | $ | (80,852 | ) |  | $ | 84,587 |
| 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 |
Condensed Consolidating Statements of Cash Flows | CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (Amounts in thousands)
| Three months ended March 31, 2018
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Net cash provided by operating activities | $ | 144,895 |  |  | $ | 81,452 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 226,349 |
Net cash (used in) provided by investing activities | (231,024 | ) |  | (75,847 | ) |  | (1,569 | ) |  | 1,569 |  |  | (306,871 | )
Net cash provided by (used in) financing activities | 99,578 |  |  | — |  |  | 1,570 |  |  | (1,570 | ) |  | 99,578 |
Net increase in cash, cash equivalents and restricted cash | 13,449 |  |  | 5,605 |  |  | 2 |  |  | — |  |  | 19,056 |
Cash, cash equivalents and restricted cash at beginning of period | 67,908 |  |  | 31,649 |  |  | — |  |  | — |  |  | 99,557 |
Cash, cash equivalents and restricted cash at end of period | $ | 81,357 |  |  | $ | 37,254 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 118,613 |
| Three months ended March 31, 2017
| Parent |  | Guarantors |  | Non-Guarantor |  | Eliminations |  | Consolidated
Net cash provided by operating activities | $ | 139,260 |  |  | $ | 3,384 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 142,645 |
Net cash (used in) provided by investing activities | (1,557,852 | ) |  | (1,348,964 | ) |  | (673 | ) |  | 1,374,810 |  |  | (1,532,679 | )
Net cash provided by (used in) financing activities | 31,644 |  |  | 1,374,137 |  |  | 673 |  |  | (1,374,810 | ) |  | 31,644 |
Net (decrease) increase in cash, cash equivalents and restricted cash | (1,386,948 | ) |  | 28,557 |  |  | 1 |  |  | — |  |  | (1,358,390 | )
Cash, cash equivalents and restricted cash at beginning of period | 1,458,882 |  |  | 1,993 |  |  | — |  |  | — |  |  | 1,460,875 |
Cash, cash equivalents and restricted cash at end of period | $ | 71,934 |  |  | $ | 30,550 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 102,485 |

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