Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

Our oil and gas properties comprised the following (in thousands):


	December 31,
	2015			2014
Mineral interests in properties:
Unproved leasehold costs	$	37,853		$	46,240
Proved leasehold costs		44,122			42,409
Wells and related equipment and facilities		1,753,649			1,592,477
Support equipment		9,545			8,518
Uncompleted wells, equipment and facilities		8,612			18,634

Total costs		1,853,781			1,708,278
Less accumulated depreciation, depletion and amortization		(702,139	)		(379,892	)

Net capitalized costs	$	1,151,642		$	1,328,386

Summary of Accrued Liabilities

The following is a summary of our accrued liabilities at December 31, 2015 and 2014 (in thousands):


	2015		2014
Capital expenditures accrual	$	3,476	$	43,870
Operating expenses and other		9,988		6,868

Total	$	13,464	$	50,738

Reconciliations of Numerators and Denominators of Basic and Diluted Earnings Per Share

The following are reconciliations of the numerators and denominators of our basic and diluted earnings per share, (dollars in thousands, except per-share amounts):


	For the Years Ended December 31,
	2015			2014		2013
Income (numerator):
Net (loss) income — basic	$	(174,104	)	$	56,172	$	72,256

Weighted average shares (denominator):
Weighted average shares — basic		40,464,283			39,407,733		38,997,815
Dilution effect of share-based compensation, treasury method		—	(1)		12,132		21,334

Weighted average shares — diluted		40,464,283			39,419,865		39,019,149

Net (loss) income per share:
Basic	$	(4.30	)	$	1.43	$	1.85

Diluted	$	(4.30	)	$	1.42	$	1.85

(1)	Approximately 39,000 options to purchase our common stock were excluded from this calculation because they were antidilutive for the year ended December 31, 2015.