v3.3.1.900

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | Our provision for income taxes comprised the following (in thousands):
|  | Years Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (265 | ) |  | $ | (25 | ) |  | $ | 429 |
State |  |  | — |  |  |  | — |  |  |  | — |
Total current provision for income taxes |  | $ | (265 | ) |  | $ | (25 | ) |  | $ | 429 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (91,716 | ) |  | $ | 32,754 |  |  | $ | 41,175 |
State |  |  | (1,424 | ) |  |  | 963 |  |  |  | 903 |
Total deferred provision for income taxes |  | $ | (93,140 | ) |  | $ | 33,717 |  |  | $ | 42,078 |
Total Income Tax Expense Differed from Amounts Computed by Applying U.S. Federal Statutory Tax Rates to Pre-Tax Income | Total income tax expense differed from the amounts computed by applying the U.S. Federal statutory tax rates to pre-tax income (in thousands):
|  | Years Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Statutory tax at 35% |  | $ | (93,628 | ) |  | $ | 31,452 |  |  | $ | 40,167 |
State taxes, net of federal impact |  |  | (1,463 | ) |  |  | 989 |  |  |  | 709 |
Share-based compensation tax shortfall |  |  | 1,939 |  |  |  | 1,670 |  |  |  | — |
Permanent differences |  |  | 26 |  |  |  | 37 |  |  |  | 34 |
Other differences |  |  | (1,035 | ) |  |  | (456 | ) |  |  | 1,597 |
Valuation allowance |  |  | 756 |  |  |  | — |  |  |  | — |
Total |  | $ | (93,405 | ) |  | $ | 33,692 |  |  | $ | 42,507 |
Significant Components of Net Deferred Tax Assets and Liabilities | Significant components of net deferred tax assets and liabilities are (in thousands):
|  | Years Ended December 31, |
|  | 2015 |  |  | 2014 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 88,230 |  |  | $ | 46,730 |
Other |  |  | 1,672 |  |  |  | 1,305 |
Total deferred tax assets |  |  | 89,902 |  |  |  | 48,035 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Difference in depreciation, depletion and capitalization methods — oil and gas properties |  |  | (118,534 | ) |  |  | (158,647 | )
Unrealized gain on commodity derivatives |  |  | (2,391 | ) |  |  | (14,307 | )
Total deferred tax liabilities |  |  | (120,925 | ) |  |  | (172,954 | )
Valuation allowance |  |  | (756 | ) |  |  | — |
Net deferred tax liability |  | $ | (31,779 | ) |  | $ | (124,919 | )
Net Operating Loss Carryforwards for Tax Purposes | Net operating loss carryforwards for tax purposes have the following expiration dates (in thousands):
Expiration Dates |  | Amounts |  |  | Stock Adjustments |  |  | Total |
2030 |  | $ | 4,083 |  |  | $ | 750 |  |  | $ | 4,833 |
2031 |  |  | 18,642 |  |  |  | 1,012 |  |  |  | 19,654 |
2032 |  |  | 51,931 |  |  |  | 2,724 |  |  |  | 54,655 |
2033 |  |  | 616 |  |  |  | 503 |  |  |  | 1,119 |
2034 |  |  | 56,511 |  |  |  | — |  |  |  | 56,511 |
2035 |  |  | 120,298 |  |  |  | — |  |  |  | 120,298 |
Total |  | $ | 252,081 |  |  | $ | 4,989 |  |  | $ | 257,070 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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