Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2014 |
Dec. 31, 2017 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2017 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Revenues | ||||||||||||||||||||
Oil sales | $ 113,697 | $ 118,484 | $ 133,793 | $ 252,277 | $ 365,974 | $ 481,922 | ||||||||||||||
Natural gas liquids sales | 2,209 | 2,370 | 2,227 | 4,597 | 6,806 | 8,542 | ||||||||||||||
Natural gas sales | 12,261 | 13,753 | 18,368 | 32,121 | 44,382 | 53,805 | ||||||||||||||
(Loss) Gain on derivative financial instruments | (12,466) | 9,412 | 3,698 | 13,110 | 644 | (32,625) | ||||||||||||||
Total Revenues | 115,701 | 144,019 | 158,086 | 302,105 | 417,806 | 511,644 | ||||||||||||||
Costs and Expenses | ||||||||||||||||||||
Lease operating | 77,822 | 83,655 | 77,267 | 160,922 | 238,744 | 319,671 | ||||||||||||||
Production taxes | 471 | 482 | 239 | 721 | 1,192 | 1,355 | ||||||||||||||
Gathering and transportation | (2,441) | 2,678 | 11,222 | 13,900 | 11,459 | 21,666 | ||||||||||||||
Pipeline facility fee | 10,495 | 10,494 | 10,494 | 20,988 | 31,483 | 41,977 | ||||||||||||||
Depreciation, depletion and amortization | 36,131 | 38,685 | 41,896 | 80,581 | 116,712 | 150,151 | ||||||||||||||
Accretion of asset retirement obligations | 9,753 | 9,984 | 13,081 | 23,065 | 32,818 | 42,780 | ||||||||||||||
Impairment of oil and natural gas properties | $ 406,275 | $ 145,100 | 40,774 | 40,774 | 40,774 | 185,860 | $ 406,300 | |||||||||||||
General and administrative expense | 15,026 | 20,716 | 23,848 | 42,320 | 57,346 | 72,057 | ||||||||||||||
Reorganization items | 2,244 | 2,244 | 2,555 | |||||||||||||||||
Total Costs and Expenses | 406,275 | 147,257 | 166,694 | 218,821 | 385,515 | 532,772 | 838,072 | |||||||||||||
Operating Loss | (406,275) | (211,462) | (31,556) | (22,675) | (60,735) | (83,410) | (114,966) | (326,428) | ||||||||||||
Other Income (Expense) | ||||||||||||||||||||
Other income, net | 52 | 80 | 22 | 102 | 154 | 254 | ||||||||||||||
Interest expense | (3,653) | (3,642) | (3,834) | (7,476) | (11,129) | (14,836) | ||||||||||||||
Total Other (Expense) Income, net | (3,601) | (3,562) | (3,812) | (7,374) | (10,975) | (14,582) | ||||||||||||||
Loss Before Reorganization Items and Income Taxes | (406,275) | (341,010) | ||||||||||||||||||
(Loss) Income Before Income Taxes | (406,275) | (35,157) | (26,237) | (64,547) | (90,784) | (125,941) | (341,010) | |||||||||||||
Income Tax Benefit | 0 | |||||||||||||||||||
Net (Loss) Income | (406,275) | $ (215,069) | $ (35,157) | $ (26,237) | $ (64,547) | $ (90,784) | $ (406,275) | $ (125,941) | (341,010) | |||||||||||
Net (Loss) Income Attributable to Common Stockholders | $ (406,275) | $ (341,010) | ||||||||||||||||||
(Loss) Earnings per Share | ||||||||||||||||||||
Basic (in dollars per share) | $ (12.23) | $ (10.26) | ||||||||||||||||||
Diluted (in dollars per share) | $ (12.23) | $ (10.26) | ||||||||||||||||||
Weighted Average Number of Common Shares Outstanding | ||||||||||||||||||||
Basic (in shares) | 33,212 | 33,239 | ||||||||||||||||||
Diluted (in shares) | 33,212 | 33,239 | ||||||||||||||||||
Basic and Diluted (in shares) | 33,241 | 33,237 | 33,228 | 33,234 | 33,236 | |||||||||||||||
Predecessor | ||||||||||||||||||||
Revenues | ||||||||||||||||||||
Oil sales | 256,050 | $ 532,505 | $ 1,025,017 | |||||||||||||||||
Natural gas liquids sales | 3,533 | 14,852 | 27,714 | |||||||||||||||||
Natural gas sales | 37,103 | 69,255 | 117,282 | |||||||||||||||||
(Loss) Gain on derivative financial instruments | 90,506 | 235,439 | ||||||||||||||||||
Total Revenues | 296,686 | 707,118 | 1,405,452 | |||||||||||||||||
Costs and Expenses | ||||||||||||||||||||
Lease operating | 136,578 | 328,183 | 449,972 | |||||||||||||||||
Production taxes | 482 | 1,442 | 8,385 | |||||||||||||||||
Gathering and transportation | 5,910 | 33,156 | 34,707 | |||||||||||||||||
Pipeline facility fee | 20,330 | 40,659 | ||||||||||||||||||
Depreciation, depletion and amortization | 60,202 | 339,539 | 705,521 | |||||||||||||||||
Accretion of asset retirement obligations | 38,380 | 64,708 | 50,081 | |||||||||||||||||
Impairment of oil and natural gas properties | $ 77,600 | $ 143,100 | $ 340,500 | $ 1,425,800 | $ 904,700 | 77,781 | $ 2,330,500 | 2,814,028 | 2,421,884 | |||||||||||
Goodwill impairment | $ 329,300 | 329,293 | ||||||||||||||||||
General and administrative expense | 27,557 | 102,736 | 116,500 | |||||||||||||||||
Total Costs and Expenses | 367,220 | 3,724,451 | 4,116,343 | |||||||||||||||||
Operating Loss | $ 12,795 | (83,329) | (168,119) | (417,866) | (1,513,148) | (918,200) | (70,534) | (2,431,348) | (3,017,333) | (2,710,891) | ||||||||||
Other Income (Expense) | ||||||||||||||||||||
Loss from equity method investees | (10,746) | (17,165) | ||||||||||||||||||
Other income, net | 117 | 3,596 | 4,176 | |||||||||||||||||
Gain on early extinguishment of debt | 777,000 | 290,300 | 458,300 | 748,600 | 1,525,596 | |||||||||||||||
Interest expense | (12,580) | (405,658) | (323,308) | |||||||||||||||||
Total Other (Expense) Income, net | (12,463) | 1,112,788 | (336,297) | |||||||||||||||||
Loss Before Reorganization Items and Income Taxes | (82,997) | (1,904,545) | (3,047,188) | |||||||||||||||||
Reorganization items | 2,733,608 | (14,201) | ||||||||||||||||||
(Loss) Income Before Income Taxes | 2,650,611 | (1,883,924) | (1,918,746) | (3,047,188) | ||||||||||||||||
Income Tax Benefit | 51 | (87) | (613,350) | |||||||||||||||||
Net (Loss) Income | 2,771,349 | (120,738) | (195,460) | 160,776 | (1,310,583) | (573,392) | 2,650,611 | (1,883,975) | (1,918,659) | (2,433,838) | ||||||||||
Preferred Stock Dividends | 5,664 | 5,194 | 11,468 | |||||||||||||||||
Net (Loss) Income Attributable to Common Stockholders | $ 2,771,349 | $ (120,738) | $ (192,612) | $ 158,398 | $ (1,313,393) | $ (576,246) | $ 2,650,611 | $ (1,889,639) | $ (1,923,853) | $ (2,445,306) | ||||||||||
(Loss) Earnings per Share | ||||||||||||||||||||
Basic (in dollars per share) | $ 28.04 | $ (1.23) | $ (1.97) | $ 1.65 | $ (13.81) | $ (6.08) | $ 26.95 | $ (19.91) | $ (20.08) | $ (25.97) | ||||||||||
Diluted (in dollars per share) | $ 26.45 | $ (1.23) | $ (1.97) | $ 1.55 | $ (13.81) | $ (6.08) | $ 25.30 | $ (19.91) | $ (20.08) | $ (25.97) | ||||||||||
Weighted Average Number of Common Shares Outstanding | ||||||||||||||||||||
Basic (in shares) | 98,337 | 94,926 | 95,822 | 94,167 | ||||||||||||||||
Diluted (in shares) | 104,787 | 94,926 | 95,822 | 94,167 |