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Equity | 9 Months Ended
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Sep. 30, 2013
Equity [Abstract] |
Equity | Equity Preferred Stock The following table presents information regarding the Company’s preferred stock (in thousands):
| September 30, 2013 |  | December 31, 2012
Shares authorized | 50,000 |  |  | 50,000 |
Shares outstanding at end of period |  |  |
8.5% Convertible perpetual preferred stock | 2,650 |  |  | 2,650 |
6.0% Convertible perpetual preferred stock | 2,000 |  |  | 2,000 |
7.0% Convertible perpetual preferred stock | 3,000 |  |  | 3,000 |
The Company is authorized to issue 50.0 million shares of preferred stock, $0.001 par value, of which approximately 7.7 million shares were designated as convertible perpetual preferred stock at September 30, 2013 and December 31, 2012. All of the outstanding shares of the Company’s convertible perpetual preferred stock were issued in private transactions but are now freely tradable, to the extent not owned by affiliates. Each outstanding share of convertible perpetual preferred stock is convertible at the holder’s option at any time into shares of the Company’s common stock at the specified conversion rate, subject to customary adjustments in certain circumstances. Each holder is entitled to an annual dividend payable semi-annually in cash, common stock or a combination thereof, at the Company’s election. The convertible perpetual preferred stock is not redeemable by the Company at any time. After the specified conversion date, the Company may cause all outstanding shares of the convertible perpetual preferred stock to convert automatically into common stock at the then-prevailing conversion rate if certain conditions are met. The following table summarizes information about each series of the Company’s convertible perpetual preferred stock:
|  | Convertible Perpetual Preferred Stock
|  | 8.5% |  | 6.0% |  | 7.0%
Liquidation preference per share |  | $ | 100.00 |  |  | $ | 100.00 |  |  | $ | 100.00 |
Annual dividend per share |  | $ | 8.50 |  |  | $ | 6.00 |  |  | $ | 7.00 |
Conversion rate per share to common stock |  | 12.4805 |  |  | 9.2115 |  |  | 12.8791 |
Conversion date to common stock at Company's option |  | February 20, 2014 |  |  | December 21, 2014 |  |  | November 20, 2015 |
Preferred stock dividends. All dividend payments to date on the Company’s 8.5%, 6.0% and 7.0% convertible perpetual preferred stock have been paid in cash. Paid and unpaid dividends included in the calculation of (loss applicable) income available to the Company’s common stockholders and the Company’s basic (loss) earnings per share calculation for the three and nine-month periods ended September 30, 2013 and 2012 as presented in the accompanying unaudited condensed consolidated statements of operations, are included in the tables below (in thousands):
| Three Months Ended September 30,
| 2013 |  | 2012
| Dividends Paid |  | Dividends Unpaid |  | Total |  | Dividends Paid |  | Dividends Unpaid |  | Total
8.5% Convertible perpetual preferred stock | $ | 2,815 |  |  | $ | 2,816 |  |  | $ | 5,631 |  |  | $ | 2,815 |  |  | $ | 2,816 |  |  | $ | 5,631 |
6.0% Convertible perpetual preferred stock | 500 |  |  | 2,500 |  |  | 3,000 |  |  | 500 |  |  | 2,500 |  |  | 3,000 |
7.0% Convertible perpetual preferred stock | — |  |  | 5,250 |  |  | 5,250 |  |  | — |  |  | 5,250 |  |  | 5,250 |
Total | $ | 3,315 |  |  | $ | 10,566 |  |  | $ | 13,881 |  |  | $ | 3,315 |  |  | $ | 10,566 |  |  | $ | 13,881 |
| Nine Months Ended September 30,
| 2013 |  | 2012
| Dividends Paid |  | Dividends Unpaid |  | Total |  | Dividends Paid |  | Dividends Unpaid |  | Total
8.5% Convertible perpetual preferred stock | $ | 14,078 |  |  | $ | 2,816 |  |  | $ | 16,894 |  |  | $ | 14,078 |  |  | $ | 2,816 |  |  | $ | 16,894 |
6.0% Convertible perpetual preferred stock | 6,500 |  |  | 2,500 |  |  | 9,000 |  |  | 6,500 |  |  | 2,500 |  |  | 9,000 |
7.0% Convertible perpetual preferred stock | 7,875 |  |  | 7,875 |  |  | 15,750 |  |  | 7,875 |  |  | 7,875 |  |  | 15,750 |
Total | $ | 28,453 |  |  | $ | 13,191 |  |  | $ | 41,644 |  |  | $ | 28,453 |  |  | $ | 13,191 |  |  | $ | 41,644 |
Common Stock The following table presents information regarding the Company’s common stock (in thousands):
| September 30, 2013 |  | December 31, 2012
Shares authorized | 800,000 |  |  | 800,000 |
Shares outstanding | 490,536 |  |  | 490,359 |
Shares held in treasury | 1,269 |  |  | 1,219 |
Stockholder Rights Plan On November 19, 2012, the Board adopted a stockholder rights plan pursuant to which the Board authorized and declared to stockholders of record on November 29, 2012 a dividend of one preferred share purchase right (the “Rights”) for each outstanding share of common stock. Effective April 29, 2013, at the direction of the Board, the Company amended the stockholder rights plan to accelerate the expiration date of the Rights to April 29, 2013. As a result, the Rights have expired and are no longer outstanding, and the stockholder rights plan has been terminated. Treasury Stock The Company makes required statutory tax payments on behalf of employees when their restricted stock awards vest and then withholds a number of vested shares of common stock having a value on the date of vesting equal to the tax obligation. As a result of such transactions, the Company withheld approximately 5.6 million shares having a total value of $29.7 million and approximately 1.5 million shares having a total value of $11.1 million for the nine-month periods ended September 30, 2013 and 2012, respectively. These shares were accounted for as treasury stock when withheld and then immediately retired. Shares of Company common stock held as assets in a trust for the Company’s non-qualified deferred compensation plan are accounted for as treasury shares. These shares are not included as outstanding shares of common stock in this report. For corporate purposes, including for the purpose of voting at Company stockholder meetings, these shares are considered outstanding and have voting rights, which are exercised by the Company. Stockholder Receivable On November 9, 2012, Tom L. Ward, the Company’s Chairman and CEO at that time, and the Company entered into a settlement agreement with a stockholder plaintiff relating to a third-party claim under Section 16(b) of the Exchange Act. The claim was filed in December 2010 and related to certain transactions involving Company common stock by Mr. Ward in 2008 and 2009. The settlement agreement found no liability or other wrongdoing under Section 16(b) regarding the transactions in question. Under the settlement agreement, Mr. Ward agreed to pay to the Company $5.0 million in four installments over four years commencing October 2013 and to waive his rights under his indemnification agreement with the Company with respect to this Section 16(b) action. The Company agreed to pay the fees of the plaintiff’s lawyers and paid Mr. Ward’s legal expenses as required under his indemnification agreement. Based on the nature of the settlement as well as Mr. Ward’s position as an officer of the Company at that time, a $5.0 million receivable was recorded as a component of additional paid-in capital and is included in the accompanying unaudited condensed consolidating balance sheets as of September 30, 2013 and December 31, 2012. Restricted Common Stock The Company awards restricted common stock under its long-term incentive compensation plan that generally vests over a four-year period, subject to certain conditions, and is valued based upon the market value of common stock on the date of grant. Shares of restricted common stock are subject to restriction on transfer. Unvested restricted stock awards are included in the Company’s outstanding shares of common stock. Equity compensation provided to employees directly involved in oil and natural gas exploration and development activities is capitalized to the Company’s oil and natural gas properties. Equity compensation not capitalized is reflected in general and administrative expenses, production expenses, cost of sales and midstream and marketing expenses in the accompanying unaudited condensed consolidated statements of operations. For the three and nine-month periods ended September 30, 2013, the Company recognized equity compensation expense of $6.8 million and $77.5 million, net of $1.3 million and $4.3 million capitalized, respectively, related to restricted common stock. The nine-month period ended September 30, 2013 includes approximately $48.5 million of equity compensation expense recognized in connection with the separation from the Company of certain of its former executives. For the three and nine-month periods ended September 30, 2012, the Company recognized equity compensation expense of $9.1 million and $30.7 million, net of $1.8 million and $5.7 million capitalized, respectively, related to restricted common stock. See Note 16 for discussion of performance units issued to certain members of senior management in July 2013. Noncontrolling Interest Noncontrolling interest represents third-party ownership interests in the Company’s subsidiaries and consolidated VIEs (see Note 3), and is included as a component of equity in the consolidated balance sheet and consolidated statement of changes in equity.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
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