Ultra Petroleum 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 25, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	Ultra Petroleum Corp.
Entity Central Index Key	1,022,646
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		196,346,736
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	UPL

Consolidated Statement of Opera

Consolidated Statement of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Natural gas sales	$ 182,949	$ 170,996	$ 551,797	$ 425,878
Oil sales	32,334	28,257	94,415	79,352
Other revenues	2,348		5,035
Total operating revenues	217,631	199,253	651,247	505,230
Expenses:
Lease operating expenses	23,140	19,934	69,365	67,164
Facility lease expense	5,254	5,171	15,706	15,514
Production taxes	22,482	20,688	66,369	49,394
Gathering fees	22,182	21,159	63,753	65,112
Transportation charges		49		23,750
Depletion, depreciation and amortization	41,089	31,192	111,516	93,274
General and administrative	8,247	1,595	34,308	7,196
Total operating expenses	122,394	99,788	361,017	321,404
Operating income	95,237	99,465	290,230	183,826
Other income (expense), net:
Interest expense	(210,107)		(324,979)	(66,565)
Gain on commodity derivatives	4,650		12,149
Deferred gain on sale of liquids gathering system	2,638	2,638	7,915	7,915
Restructuring expenses		(28)		(7,176)
Contract settlement expense			(52,707)
Other income (expense), net	92	(514)	(28)	(2,436)
Total other (expense) income, net	(202,727)	2,096	(357,650)	(68,262)
Reorganization items, net	(227,123)	(3,109)	142,147	(25,292)
Income (loss) before income tax provision (benefit)	(334,613)	98,452	74,727	90,272
Income tax (benefit) provision	(6,886)	45	(6,884)	(305)
Net income (loss)	$ (327,727)	$ 98,407	$ 81,611	$ 90,577
Basic earnings (loss) per share:
Net income (loss) per common share - basic	$ (1.67)	$ 1.23	$ 0.53	$ 1.13
Fully diluted earnings (loss) per share:
Net income (loss) per common share - fully diluted	$ (1.67)	$ 1.22	$ 0.53	$ 1.13
Weighted average common shares outstanding - basic	196,331	80,003	152,864	79,991
Weighted average common shares outstanding - fully diluted	196,331	80,384	153,068	80,361

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 5,419	$ 401,478
Restricted cash	401,697	3,571
Oil and gas revenue receivable	71,912	79,179
Joint interest billing and other receivables	19,082	10,781
Deposits and retainers	0	13,359
Derivative assets	4,153	0
Income tax receivable	6,886	2,099
Inventory	10,334	4,906
Other current assets	10,305	6,020
Total current assets	529,788	521,393
Oil and gas properties, net, using the full cost method of accounting:
Proven	1,315,120	1,010,466
Property, plant and equipment, net	8,764	7,695
Other	8,460	1,374
Total assets	1,862,132	1,540,928
Current liabilities:
Accounts payable	68,109	28,171
Accrued liabilities	303,063	53,348
Production taxes payable	63,336	44,329
Interest payable	219,739	0
Capital cost accrual	32,875	12,360
Total current liabilities	687,122	138,208
Long-term debt	2,134,014	0
Deferred gain on sale of liquids gathering system	107,827	115,742
Other long-term obligations	190,922	177,088
Total liabilities not subject to compromise	3,119,885	431,038
Liabilities subject to compromise	0	4,038,041
Commitments and contingencies (Note 8)
Shareholders' equity:
Common stock - no par value; authorized - unlimited; issued and outstanding - 196,346,736 and 80,017,020 at September 30, 2017 and December 31, 2016, respectively	2,108,431	510,063
Treasury stock	(49)	(49)
Retained loss	(3,366,135)	(3,438,165)
Total shareholders' deficit	(1,257,753)	(2,928,151)
Total liabilities and shareholders' equity	$ 1,862,132	$ 1,540,928

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Common stock, No par value
Common stock, Shares authorized	Unlimited	Unlimited
Common stock, Shares issued	196,346,736	80,017,020
Common stock, Shares outstanding	196,346,736	80,017,020

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Retained Loss	Treasury Stock
Beginning Balances at Dec. 31, 2015	$ (2,991,937)	$ 502,050	$ (3,493,811)	$ (176)
Beginning Balances, Shares at Dec. 31, 2015		79,933
Employee stock plan grants		145
Shares re-issued from treasury			(127)	127
Net share settlements	(378)		(378)
Net share settlements, Shares		(61)
Fair value of employee stock plan grants	8,013	$ 8,013
Net income	56,151		56,151
Ending Balances at Dec. 31, 2016	(2,928,151)	$ 510,063	(3,438,165)	(49)
Ending Balances, Shares at Dec. 31, 2016		80,017
Equitization of Holdco Notes	978,230	$ 978,230
Equitization of Holdco Notes, Shares		70,579
Rights Offering, including Backstop	573,774	$ 573,774
Rights Offering, including Backstop, Shares		44,390
Employee stock plan grants		10
Stock plan grants	26,673	$ 26,673
Stock plan grants, Shares		2,192
Net share settlements	(9,581)		(9,581)
Net share settlements, Shares		(841)
Fair value of employee stock plan grants	19,691	$ 19,691
Net income	81,611		81,611
Ending Balances at Sep. 30, 2017	$ (1,257,753)	$ 2,108,431	$ (3,366,135)	$ (49)
Ending Balances, Shares at Sep. 30, 2017		196,347

Consolidated Statements of Sha6

Consolidated Statements of Shareholders' Equity (Parenthetical)	Apr. 12, 2017shares
Conversion ratio	0.521562
Common Stock
Conversion ratio	0.521562
New equity issued, Shares	194,991,656
Equitization of Holdco Notes, Shares	70,579,367
New equity issued to holders of existing common shares, Shares	80,022,410
New equity issued to commitment parties in respect of backstop commitment premium, Shares	2,512,623
New equity issued to commitment parties in connection with backstop commitment obligation, Shares	18,844,363
New equity issued to participants in rights offering, Shares	23,032,893

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities - cash provided by (used in):
Net income	$ 81,611	$ 90,577
Adjustments to reconcile net income to cash provided by operating activities:
Depletion, depreciation and amortization	111,516	93,274
Deferred income tax benefit		1
Unrealized gain on commodity derivatives	(4,133)
Deferred gain on sale of liquids gathering system	(7,915)	(7,915)
Stock compensation	34,182	3,967
Non-cash reorganization items, net	(227,260)	22,588
Amortization of deferred financing costs	4,781	4,194
Other	(1,014)	2,424
Net changes in operating assets and liabilities:
Restricted cash	15,734	(3,346)
Accounts receivable	(91)	(6,782)
Other current assets	9,356	(14,871)
Other non-current assets	173	(818)
Accounts payable	38,619	(67,828)
Accrued liabilities	(134,358)	(3,102)
Production taxes payable	19,006	10,982
Interest payable	231,553	57,118
Other long-term obligations	(2,455)	(9,431)
Income taxes payable/receivable	(4,787)	(234)
Net cash provided by operating activities	164,518	170,798
Investing Activities - cash provided by (used in):
Oil and gas property expenditures	(386,754)	(189,511)
Change in capital cost accrual	20,437	(10,730)
Inventory	(5,477)	136
Purchase of capital assets	(2,203)	3
Net cash used in investing activities	(373,997)	(200,102)
Financing activities - cash provided by (used in):
Extinguishment of long-term debt - (chapter 11)	(2,459,000)
Proceeds from issuance of Senior Notes	1,200,000
Deferred financing costs	(81,122)
Shares issued, net of transaction costs	568,483
Repurchased shares/net share settlements	(9,581)	(319)
Reserve Fund	(400,360)
Net cash (used in) provided by financing activities	(186,580)	368,681
(Decrease) increase in cash and cash equivalents during the period	(396,059)	339,377
Cash and cash equivalents, beginning of period	401,478	4,143
Cash and cash equivalents, end of period	5,419	343,520
Credit Agreement
Financing activities - cash provided by (used in):
Borrowings under Credit / Term Loan Agreement	479,000	$ 369,000
Payments under Credit Agreement	(459,000)
Term Loan Agreement
Financing activities - cash provided by (used in):
Borrowings under Credit / Term Loan Agreement	$ 975,000

Description of the Business

Description of the Business	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of the Business	DESCRIPTION OF THE BUSINESS: Ultra Petroleum Corp. (the “Company”) is an independent oil and gas company engaged in the development, production, operation, exploration and acquisition of oil and natural gas properties. The Company is incorporated under the laws of Yukon, Canada. The Company’s principal business activities are developing its long-life natural gas reserves in the Green River Basin of Wyoming – the Pinedale and Jonah fields, its oil reserves in the Uinta Basin in Utah and its natural gas reserves in the Appalachian Basin of Pennsylvania.

Chapter 11 Proceedings

Chapter 11 Proceedings	9 Months Ended
	Sep. 30, 2017
Reorganizations [Abstract]
Chapter 11 Proceedings	Chapter 11 Proceedings Voluntary Reorganization Under Chapter 11 On April 29, 2016 (the “Petition Date”), the Company and its subsidiaries (collectively, the “Debtors”) filed voluntary petitions under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). Our chapter 11 cases were jointly administered under the caption In re Ultra Petroleum Corp. On February 13, 2017, the Bankruptcy Court approved our amended Disclosure Statement (by order subsequently amended on February 21, 2017), on March 14, 2017, the Bankruptcy Court confirmed our Debtors’ Second Amended Joint Chapter 11 Plan of Reorganization As a result of our improved financial condition and successful emergence from chapter 11 proceedings, we believe we now have sufficient liquidity to fund our future cash requirements for operations, capital expenditures and working capital purposes. As a result, substantial doubt no longer exists regarding the Company’s ability to meet its obligations as they become due within one year after the date that the financial statements are issued. Because we emerged from bankruptcy during the nine months ended September 30, 2017 and because we continue our work to reconcile, resolve and pay certain prepetition claims asserted against us during our chapter 11 cases, certain aspects of our chapter 11 cases are described below to provide context to our financial condition and results of operations for the period presented in this Quarterly Report on Form 10-Q. Information about our chapter 11 cases is available at a website maintained by our claims agent, Epiq Systems ( http://dm.epiq11.com/UPT/Docket In addition, because our operations and ability to execute our business remain subject to various risks and uncertainties, including risks and uncertainties related to our chapter 11 cases, readers are encouraged to review and consider the items described in Item 1A, “Risk Factors” in our Annual Report on Form 10-K for our fiscal year ended December 31, 2016 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2017. Plan Support Agreement, Rights Offering, Backstop Commitment Agreement and Exit Financing Commitment Letter As previously disclosed: • On November 21, 2016, we entered into a Plan Support Agreement (as amended, the “PSA”) with certain holders of the Company’s prepetition indebtedness and outstanding common stock as well as a Backstop Commitment Agreement (“BCA”). Pursuant to the BCA, we agreed to conduct a rights offering for new common stock in the Company to be issued upon the effectiveness of the Plan for an aggregate purchase price of $580.0 million (the “Rights Offering”). • On February 8, 2017, we entered into a commitment letter with Barclays Bank PLC (“Barclays”) (as amended, the “Commitment Letter”) pursuant to which, in connection with the consummation of the Plan, Barclays agreed to provide us with secured and unsecured financings in an aggregate amount of up to $2.4 billion (the “Debt Financings”). • On the Effective Date, the principal obligations outstanding of $999.0 million under the Prepetition Credit Agreement and $1.46 billion under the Prepetition Senior Notes, as well as prepetition interest and other undisputed amounts, were paid in full. The Company’s obligations under the Prepetition Credit Agreement and the Prepetition Senior Notes were cancelled and extinguished as provided in the Plan. • On the Effective Date, the claims of $450.0 million related to the unsecured 2018 Notes and $850.0 million related to the unsecured 2024 Notes were allowed in full, each holder of a claim related to the 2018 Notes and the 2024 Notes received a distribution of common stock in the amount of the holders’ applicable claim, and the Company’s obligations under the 2018 Notes and the 2024 Notes were cancelled and extinguished as provided in the Plan. • On the Effective Date, we consummated the Rights Offering and the Debt Financings and, as noted above, emerged from bankruptcy. Fresh Start Accounting As previously disclosed, we are not required to apply fresh start accounting to our financial statements in connection with our emergence from bankruptcy because the reorganization value of our assets immediately prior to confirmation of the Plan exceeded our aggregate postpetition liabilities and allowed claims. Liabilities Subject to Compromise The following table reconciles the settlement of liabilities subject to compromise included in our Consolidated Balance Sheets from December 31, 2016 through the nine months ended September 30, 2017: September 30, 2017 Liabilities subject to compromise at December 31, 2016 $ 4,038,041 Debt extinguishment - cash (2,521,493 ) Debt extinguishment - non-cash (1,339,740 ) Contract settlement (169,600 ) Reclassified to accrued liabilities (7,208 ) Liabilities subject to compromise at September 30, 2017 $ — Bankruptcy Claims Resolution Process The claims filed against us during our chapter 11 proceedings are voluminous. In addition, claimants may file amended or modified claims in the future, which modifications or amendments may be material. The claims resolution process is on-going, and the ultimate number and amount of prepetition claims are not presently known, nor can the ultimate recovery with respect to allowed claims be presently ascertained. As a part of the claims resolution process, we are working to resolve differences between amounts we listed in information filed during our bankruptcy proceedings and the amounts of claims filed by our creditors. We have filed, and we will continue to file, objections with the Bankruptcy Court as necessary with respect to claims we believe should be disallowed. Costs of Reorganization We have incurred significant costs associated with our reorganization and the chapter 11 proceedings. We expect these costs, which are being expensed as incurred, have affected and may continue to significantly affect our results of operations. For additional information about the costs of our reorganization and chapter 11 proceedings, see “Reorganization items, net” below. The following table summarizes the components included in Reorganization items, net in our Consolidated Statements of Operations for the three and nine months ended September 30, 2017 and 2016: For the Three Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Professional fees (1) $ (3,285 ) $ (3,215 ) $ (65,289 ) $ (6,797 ) Gains (losses) (2) — — 431,107 — Deferred financing costs — — — (18,742 ) Make-whole fees (3) (223,838 ) — (223,838 ) — Other (4) — 106 167 247 Total Reorganization items, net $ (227,123 ) $ (3,109 ) $ 142,147 $ (25,292 ) (1) (2) (3) (4)

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	1. SIGNIFICANT ACCOUNTING POLICIES: The accompanying financial statements, other than the balance sheet data as of December 31, 2016, are unaudited and were prepared from the Company’s records, but do not include all disclosures required by U.S. Generally Accepted Accounting Principles (“GAAP”). Balance sheet data as of December 31, 2016 was derived from the Company’s audited financial statements. The Company’s management believes that these financial statements include all adjustments necessary for a fair presentation of the Company’s financial position and results of operations. All adjustments are of a normal and recurring nature unless specifically noted. The Company prepared these statements on a basis consistent with the Company’s annual audited statements and Regulation S-X. Regulation S-X allows the Company to omit some of the footnote and policy disclosures required by GAAP and normally included in annual reports on Form 10-K. You should read these interim financial statements together with the financial statements, summary of significant accounting policies and notes to the Company’s most recent annual report on Form 10-K. (a) Basis of presentation and principles of consolidation: (b) Cash and Cash Equivalents: (c) Restricted Cash: (d) Accounts Receivable: (e) Property, Plant and Equipment: (f) Oil and Natural Gas Properties: The sum of net capitalized costs and estimated future development costs of oil and natural gas properties are amortized using the units-of-production method based on the Company’s proved reserves. Oil and natural gas reserves and production are converted into equivalent units based on relative energy content. Asset retirement costs are included in the base costs for calculating depletion. Under the full cost method, costs of unevaluated properties and major development projects expected to require significant future costs may be excluded from capitalized costs being amortized. The Company excludes significant costs until proved reserves are found or until it is determined that the costs are impaired. The Company reviews its unproved leasehold costs quarterly or when management determines that events or circumstances indicate that the recorded carrying value of the unevaluated properties may not be recoverable. The estimated prices used in the cash flow analysis are determined by management based on forward price curves for the related commodities, adjusted for average historical location and quality differentials. Estimates of cash flows related to probable and possible reserves are reduced by additional risk-weighting factors. Companies that use the full cost method of accounting for oil and natural gas exploration and development activities are required to perform a ceiling test calculation each quarter. The full cost ceiling test is an impairment test prescribed by SEC Regulation S-X Rule 4-10. The ceiling test is performed quarterly, on a country-by-country basis, utilizing the average of prices in effect on the first day of the month for the preceding twelve-month period in accordance with SEC Release No. 33-8995. The ceiling limits such pooled costs to the aggregate of the present value of future net revenues attributable to proved crude oil and natural gas reserves discounted at 10%, plus the lower of cost or market value of unproved properties, less any associated tax effects. If such capitalized costs exceed the ceiling, the Company will record a write-down to the extent of such excess as a non-cash charge to earnings. Any such write-down will reduce earnings in the period of occurrence and results in a lower depletion, depreciation and amortization (“DD&A”) rate in future periods. A write-down may not be reversed in future periods even though higher oil and natural gas prices may subsequently increase the ceiling. The Company did not incur a ceiling test write-down during the nine months ended September 30, 2017 or 2016. (g) Inventories: (h) Deferred Financing Costs: Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (i) Derivative Instruments and Hedging Activities: (j) Income Taxes: (k) Equity Interests: In accordance with the Plan, each of the Company’s equity interests outstanding prior to the Effective Date were cancelled and each such equity interest has no further force or effect after the Effective Date. Pursuant to the Plan, the holders of the Company’s common shares outstanding prior to the Effective Date (the “Existing Common Shares”) received (i) their proportionate distribution of New Equity and (ii) the right to participate in the Rights Offering. The holders of all other equity interests in the Company received no distribution under the Plan in respect thereof. (l) Earnings Per Share: In conjunction with our emergence from chapter 11, on April 12, 2017, the Company issued shares of New Equity to holders of Existing Common Shares at a conversion ratio of 0.521562. As a result, the basic and fully diluted share counts have been presented to reflect this conversion as if it had occurred as of January 1, 2016. Share based payments subject to performance or market conditions are considered contingently issuable shares for purposes of calculating diluted earnings per share. Thus, they are not included in the diluted earnings per share denominator until the performance or market criteria are met. For the quarter and nine months ended September 30, 2017, the Company had 4.1 million contingently issuable shares that are not included in the diluted earnings per share denominator as the performance or market criteria have not been met (See Note 4). There were no contingently issuable shares outstanding for the quarter and nine months ended September 30, 2016. Three Months Nine Months Ended September 30, Ended September 30, 2017 2016 2017 2016 (Share amounts in 000's) Net income (loss) $ (327,727 ) $ 98,407 $ 81,611 $ 90,577 Weighted average common shares outstanding - basic 196,331 80,003 152,864 79,991 Effect of dilutive instruments — 381 204 370 Weighted average common shares outstanding - diluted 196,331 80,384 153,068 80,361 Net income (loss) per common share - basic $ (1.67 ) $ 1.23 $ 0.53 $ 1.13 Net income (loss) per common share - diluted $ (1.67 ) $ 1.22 $ 0.53 $ 1.13 Number of shares not included in dilutive earnings per share that would have been anti-dilutive because the exercise price was greater than the average market price of the common shares — 262 — 756 (m) Use of Estimates: (n) Share-Based Compensation: (o) Fair Value Accounting: (p) Asset Retirement Obligation: (q) Revenue Recognition: Make-up provisions and ultimate settlements of volume imbalances are generally governed by agreements between the Company and its partners with respect to specific properties or, in the absence of such agreements, through negotiation. The value of volumes over- or under-produced can change based on changes in commodity prices. The Company prefers the entitlements method of accounting for oil and natural gas sales because it allows for recognition of revenue based on its actual share of jointly owned production, results in better matching of revenue with related operating expenses, and provides balance sheet recognition of the estimated value of product imbalances. The Company’s imbalance obligations as of September 30, 2017 and December 31, 2016 were immaterial. (r) Other revenues (s) Capital Cost Accrual: (t) Reclassifications: (u) Deposits and Retainers: (v) Recent Accounting Pronouncements: Statement of Cash Flows. In November 2016, the FASB issued ASU 2016-18, (“ASU No. 2016-18”). The guidance requires that an explanation is included in the cash flow statement of the change in the total of (1) cash, (2) cash equivalents, and (3) restricted cash or restricted cash equivalents. ASU No. 2016-18 also clarifies that transfers between cash, cash equivalents and restricted cash or restricted cash equivalents should not be reported as cash flow activities and requires the nature of the restrictions on cash, cash equivalents, and restricted cash or restricted cash equivalents to be disclosed. For public companies, the standard will take effect for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 with earlier application permitted. The Company is still evaluating the impact of ASU No. 2016-18 on its consolidated financial statements. Statement of Cash Flows. In August 2016, the FASB issued ASU 2016-15, (“ASU No. 2016-15”). The guidance requires that debt prepayment or debt extinguishment costs, including third-party costs, premiums paid, and other fees paid to lenders, be classified as cash outflows for financing activities. For public companies, the standard will take effect for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 with earlier application permitted. The Company does not expect the adoption of ASU No. 2016-15 to have a material impact on its consolidated financial statements. Leases. In February 2016, the FASB issued ASU 2016-02, (“ASU No. 2016-02”). The guidance requires that lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months. The ASU will also require disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative information. For public companies, the standard will take effect for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018 with earlier application permitted. The Company is still evaluating the impact of ASU No. 2016-02 on its consolidated financial statements . Stock Compensation . In May 2017, the FASB issued ASU 2017-09, (“ASU No. 2017-09”) which is intended to clarify and reduce diversity in practice and cost and complexity when applying the guidance in Topic 718, Compensation-Stock Compensation, to a change to the terms or conditions of a share-based payment award. For public companies, the standard will take effect for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 with earlier application permitted. The Company does not expect the adoption of ASU No. 2017-09 to have a material impact on its consolidated financial statements. Revenue from Contracts with Customers. In May 2014, the FASB issued ASU 2014-09, and in 2016, the FASB issued ASU 2016-08, , and ASU 2016-10, , which supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and industry-specific guidance in Subtopic 932-605, Extractive Activities-Oil and Gas-Revenue Recognition. The new standard requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. We are currently evaluating the provisions of ASU 2014-09 and assessing the impact, if any, it may have on our financial position and results of operations. As part of our assessment work to date, we have completed training of the new ASU’s revenue recognition model, dedicated resources to its implementation, and initiated contract review and documentation; including analyzing the standard’s impact on our contract portfolio, comparing historical accounting policies and practices to the requirements of the new standard, and identifying differences from applying the requirements of the new standards to our contracts. We are evaluating the expanded disclosure requirements under the new standard and are also reviewing our processes, systems, and internal controls over financial reporting to ensure the appropriate information will be available for these disclosures. While we are continuing to assess all potential impacts of the standard, we currently believe the most significant impacts relate to principal versus agent considerations and the use of the entitlements method for oil and natural gas sales, both of which are continuing to be evaluated by the Company. The Company is required to adopt the new standards in the first quarter of 2018 using one of two application methods: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Company currently anticipates adopting the standard using the modified retrospective method.

Oil and Gas Properties and Equi

Oil and Gas Properties and Equipment	9 Months Ended
	Sep. 30, 2017
Oil And Gas Property [Abstract]
Oil and Gas Properties and Equipment	2. OIL AND GAS PROPERTIES AND EQUIPMENT: September 30, December 31, 2017 2016 Proven Properties: Acquisition, equipment, exploration, drilling and abandonment costs $ 11,158,940 $ 10,752,642 Less: Accumulated depletion, depreciation and amortization (9,843,820 ) (9,742,176 ) $ 1,315,120 $ 1,010,466

Debt and Other Long-term Obliga

Debt and Other Long-term Obligations	9 Months Ended
	Sep. 30, 2017
Long Term Liabilities [Abstract]
Debt and other long term liabilities	3. DEBT AND OTHER LONG-TERM OBLIGATIONS: September 30, December 31, 2017 2016 (1) Total Debt: Term loan, secured due 2024 $ 975,000 $ — 6.875% Senior, unsecured Notes due 2022 700,000 — 7.125% Senior, unsecured Notes due 2025 500,000 — 6.125% Senior Notes due 2024 — 850,000 5.75% Senior Notes due 2018 — 450,000 Senior Notes issued by Ultra Resources, Inc. — 1,460,000 Credit Agreement 20,000 999,000 Total long-term debt 2,195,000 3,759,000 Less: Deferred financing costs (60,986 ) — Less: Liabilities subject to compromise (1) (See Note 1) — (3,759,000 ) Total long-term debt not subject to compromise $ 2,134,014 $ — Other long-term obligations: Other long-term obligations $ 190,922 $ 177,088 (1) All of our indebtedness that was outstanding at December 31, 2016 was classified as liabilities subject to compromise in the Consolidated Balance Sheets. See below for information about the indebtedness we incurred in connection with, and that is now outstanding, following our emergence from bankruptcy. As previously disclosed in a Current Report on Form 8-K filed with the SEC on April 18, 2017, on the Effective Date, all principal, prepetition interest, and other undisputed amounts were paid in full for the amounts owed under the prepetition Credit Agreement and the prepetition Senior Notes shown in the table above and the Company’s obligations under the prepetition Credit Agreement and the prepetition Senior Notes were cancelled and extinguished. The make-whole and postpetition interest claims related to the prepetition Credit Agreement and prepetition Senior Notes were settled during the quarter ended September 30, 2017, see Note 8 for additional details. The claims related to the 2018 and 2024 Notes, shown in the table above were allowed in full, each claim holder received a distribution of our common stock in the amount of the applicable claim, and the Company’s obligations under the 2018 and 2024 Notes were cancelled and extinguished. Ultra Resources, Inc. Credit Agreement. On April 12, 2017, Ultra Resources, Inc. (“Ultra Resources”), as the borrower, entered into a Credit Agreement with the Company and UP Energy Corporation, as parent guarantors, with Bank of Montreal, as administrative agent, and with the other lenders party thereto from time to time (as amended, the “RBL Credit Agreement”), providing for a revolving credit facility (the “Revolving Credit Facility”) for an aggregate amount of $400.0 million and an initial borrowing base of $1.2 billion (which limits the aggregate amount of first lien debt under the Revolving Credit Facility and the Term Loan Facility (defined below)). As previously disclosed in a Current Report Form 8-K filed with the SEC on September 19, 2017, the Bank of Montreal, as administrative agent, and the other lenders party thereto, approved an increase in the borrowing base under the RBL Credit Agreement from $1.2 billion to $1.4 billion as requested by the Company, which included an increase in the commitments under the RBL Credit Agreement to an aggregate amount of $425.0 million. At September 30, 2017, Ultra Resources had $20.0 million in outstanding borrowings under the RBL Credit Agreement, total commitments under the RBL Credit Agreement of $425.0 million and a borrowing base of $1.4 billion. There are no scheduled borrowing base redeterminations until April 1, 2018. The Revolving Credit Facility has capacity for Ultra Resources to increase the commitments subject to certain conditions, and has $50.0 million of the commitments available for the issuance of letters of credit. The Revolving Credit Facility bears interest either at a rate equal to (a) a customary London interbank offered rate plus an applicable margin that varies from 250 to 350 basis points or (b) the base rate plus an applicable margin that varies from 150 to 250 basis points. The interest rate remained the same for the Revolving Credit Facility subsequent to the approved commitments increase noted above. The Revolving Credit Facility loans mature on January 12, 2022. The RBL Credit Agreement requires Ultra Resources to maintain (i) an interest coverage ratio of 2.50 to 1.00; (ii) a current ratio, including the unused portion of the Revolving Credit Facility, of 1.00 to 1.00; (iii) a consolidated net leverage ratio of (A) 4.25 to 1.00 as of the last day of any fiscal quarter ending on or before December 31, 2017 and (B) 4.00 to 1.00, as of the last day of any fiscal quarter thereafter; and (iv) after the Company has obtained investment grade rating an asset coverage ratio of 1.50 to 1.00. At September 30, 2017, Ultra Resources was in compliance with all of its debt covenants under the RBL Credit Agreement. Ultra Resources is required to pay a commitment fee on the average daily unused portion of the Revolving Credit Facility, which varies based upon a borrowing base utilization grid. Ultra Resources is also required to pay customary letter of credit and fronting fees. The RBL Credit Agreement also contains customary affirmative and negative covenants, including, among other things, as to compliance with laws (including environmental laws, ERISA and anti-corruption laws), delivery of quarterly and annual financial statements and oil and gas engineering reports, maintenance and operation of property (including oil and gas properties), restrictions on the incurrence of liens, indebtedness, asset dispositions, fundamental changes, restricted payments, hedging requirements and other customary covenants. The RBL Credit Agreement contains customary events of default and remedies for credit facilities of this nature. If Ultra Resources does not comply with the financial and other covenants in the RBL Credit Agreement, the lenders may, subject to customary cure rights, require immediate payment of all amounts outstanding under the RBL Credit Agreement and any outstanding unfunded commitments may be terminated. Term Loan. On April 12, 2017 , Ultra Resources, as borrower, entered into a Senior Secured Term Loan Agreement with the Company and UP Energy Corporation, as parent guarantors, Barclays Bank PLC, as administrative agent, and the other lenders party thereto (the “Term Loan Agreement”), providing for senior secured first lien term loans for an aggregate amount of $800.0 million consisting of an initial term loan in the amount of $600.0 million and an incremental term loan in the amount of $200.0 million to be drawn immediately after the funding of the initial term loan. As part of the Term Loan agreement, Ultra Resources agreed to pay an original issue discount equal to one percent of the principal amount, which is included in the deferred financing costs noted above. The Term Loan Agreement has capacity to increase the commitments subject to certain conditions. As previously disclosed in a Current Report on Form 8-K filed with the SEC on September 29, 2017, the Company closed an incremental senior secured term loan offering of $175.0 million. As part of the closing, Ultra Resources agreed to pay an original issue discount equal to 0.25% of the principal amount. The original issue discount of $0.4 million is included in the deferred financing costs noted above and is a direct deduction from the carrying amount of long-term debt. At September 30, 2017, Ultra Resources had $975.0 million in outstanding borrowings under the Term Loan Agreement (the “Term Loan Facility”). The Term Loan Facility bears interest either at a rate equal to (a) a customary London interbank offered rate plus 300 basis points or (b) the base rate plus 200 basis points. The Term Loan Facility amortizes in equal quarterly installments in aggregate annual amounts equal to 0.25% of the aggregate principal amount beginning on June 30, 2019. The Term Loan Facility matures seven years after the Effective Date. The Term Loan Facility is subject to mandatory prepayments and customary reinvestment rights. The mandatory prepayments include, without limitation, a prepayment requirement with the total net proceeds from certain asset sales and net proceeds on insurance received on account of any loss of Ultra Resources’ property or assets, in each case subject to certain exceptions. In addition, subject to certain exceptions, there is a prepayment requirement if the asset coverage ratio is less than 2.0 to 1.0. To the extent any mandatory prepayments are required, prepayments are applied to prepay the Term Loan Facility. The Term Loan Agreement also contains customary affirmative and negative covenants, including as to compliance with laws (including environmental laws, ERISA and anti-corruption laws), delivery of quarterly and annual financial statements and oil and gas engineering reports, maintenance and operation of property (including oil and gas properties), restrictions on the incurrence of liens, indebtedness, asset dispositions, fundamental changes, restricted payments and other customary covenants. At September 30, 2017, Ultra Resources was in compliance with all of its debt covenants under the Term Loan Facility. The Term Loan Agreement contains customary events of default and remedies for credit facilities of this nature. If Ultra Resources does not comply with the financial and other covenants in the Term Loan Agreement, the lenders may, subject to customary cure rights, require immediate payment of all amounts outstanding under the Term Loan Agreement. Senior Notes . On April 12, 2017, the Company issued $700.0 million of its 6.875% senior notes due 2022 (the “2022 Notes”) and $500.0 million of its 7.125% senior notes due 2025 (the “2025 Notes,” and together with the 2022 Notes, the “Notes”) and entered into an Indenture, dated April 12, 2017 (the “Indenture”), among Ultra Resources, as issuer, the Company and its subsidiaries, as guarantors. The Notes are treated as a single class of securities under the Indenture. The Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes may be resold to qualified institutional buyers pursuant to Rule 144A under the Securities Act or to non-U.S. persons pursuant to Regulation S under the Securities Act. The 2022 Notes will mature on April 15, 2022. The interest payment dates for the 2022 Notes are April 15 and October 15 of each year, commencing on October 15, 2017. The 2025 Notes will mature on April 15, 2025. The interest payment dates for the 2025 Notes are April 15 and October 15 of each year, commencing on October 15, 2017. Interest will be paid on the Notes from the issue date until maturity. Prior to April 15, 2019, Ultra Resources may, at any time or from time to time, redeem in the aggregate up to 35% of the aggregate principal amount of the 2022 Notes in an amount no greater than the net cash proceeds of certain equity offerings at a redemption price of 106.875% of the principal amount of the 2022 Notes, plus accrued and unpaid interest, if any, to the date of redemption, if at least 65% of the original principal amount of the 2022 Notes remains outstanding and the redemption occurs within 180 days of the closing of such equity offering. In addition, before April 15, 2019, Ultra Resources may redeem all or a part of the 2022 Notes at a redemption price equal to the sum of (i) the principal amount thereof, plus (ii) a make-whole premium at the redemption date, plus accrued and unpaid interest, if any, to the redemption date. In addition, on or after April 15, 2019, Ultra Resources may redeem all or a part of the 2022 Notes at redemption prices (expressed as percentages of principal amount) equal to 103.438% for the twelve-month period beginning on April 15, 2019, 101.719% for the twelve-month period beginning April 15, 2020, and 100.000% for the twelve-month period beginning April 15, 2021 and at any time thereafter, plus accrued and unpaid interest, if any, to the applicable redemption date on the 2022 Notes. Prior to April 15, 2020, Ultra Resources may, at any time or from time to time, redeem in the aggregate up to 35% of the aggregate principal amount of the 2025 Notes in an amount no greater than the net cash proceeds of certain equity offerings at a redemption price of 107.125% of the principal amount of the 2025 Notes, plus accrued and unpaid interest, if any, to the date of redemption, if at least 65% of the original principal amount of the 2025 Notes remains outstanding and the redemption occurs within 180 days of the closing of such equity offering. In addition, before April 15, 2020, Ultra Resources may redeem all or a part of the 2025 Notes at a redemption price equal to the sum of (i) the principal amount thereof, plus (ii) a make-whole premium at the redemption date, plus accrued and unpaid interest, if any, to the redemption date. In addition, on or after April 15, 2019, Ultra Resources may redeem all or a part of the 2025 Notes at redemption prices (expressed as percentages of principal amount) equal to 105.344% for the twelve-month period beginning on April 15, 2020, 103.563% for the twelve-month period beginning April 15, 2021, 101.781% for the twelve-month period beginning April 15, 2022, and 100.000% for the twelve-month period beginning April 15, 2023 and at any time thereafter, plus accrued and unpaid interest, if any, to the applicable redemption date on the 2025 Notes. If Ultra Resources experiences certain change of control triggering events set forth in the Indenture, each holder of the Notes may require Ultra Resources to repurchase all or a portion of its Notes for cash at a price equal to 101% of the aggregate principal amount of such Notes, plus any accrued but unpaid interest to the date of repurchase. The Indenture contains customary covenants that restrict the ability of Ultra Resources and the guarantors and certain of its subsidiaries to: (i) sell assets and subsidiary equity; (ii) incur indebtedness; (iii) create or incur certain liens; (iv) enter into affiliate agreements; (v) enter into agreements that restrict distribution from certain restricted subsidiaries and the consummation of mergers and consolidations; (vi) consolidate, merge or transfer all or substantially all of the assets of the Company or any Restricted Subsidiary (as defined in the Indenture); and (vii) create unrestricted subsidiaries. The covenants in the Indenture are subject to important exceptions and qualifications. Subject to conditions, the Indenture provides that the Company and its subsidiaries will no longer be subject to certain covenants when the Notes receive investment grade ratings from any two of S&P Global Ratings, Moody’s Investors Service, Inc., and Fitch Ratings, Inc. At September 30, 2017, Ultra Resources was in compliance with all of its debt covenants under the Notes. The Indenture contains customary events of default (each, an “Event of Default”). Unless otherwise noted in the Indenture, upon a continuing Event of Default, the trustee under the Indenture (“the Trustee”), by notice to the Company, or the holders of at least 25% in principal amount of the then outstanding Notes, by notice to the Company and the Trustee, may, declare the Notes immediately due and payable, except that an Event of Default resulting from entry into a bankruptcy, insolvency or reorganization with respect to the Company, any Significant Subsidiary (as defined in the Indenture) or group of Restricted Subsidiaries (as defined in the Indenture), that taken together would constitute a Significant Subsidiary, will automatically cause the Notes to become due and payable. Other long-term obligations: These costs primarily relate to the long-term portion of production taxes payable and asset retirement obligations.

Share Based Compensation

Share Based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share Based Compensation	4. SHARE BASED COMPENSATION: Valuation and Expense Information Three Months Nine Months Ended September 30, Ended September 30, 2017 2016 2017 2016 Total cost of share-based payment plans $ 10,276 $ 1,706 $ 46,166 $ 5,756 Amounts capitalized in oil and gas properties and equipment $ 2,358 $ 442 $ 11,984 $ 1,789 Amounts charged against income, before income tax benefit $ 7,918 $ 1,264 $ 34,182 $ 3,967 Amount of related income tax benefit recognized in income before valuation allowance $ 3,151 $ 503 $ 13,604 $ 1,579 Changes in Stock Options and Stock Options Outstanding As provided in the Plan, all plans or programs calling for stock grants, stock issuances, stock reserves or stock options were cancelled as of the Effective Date and all outstanding awards established prior to the Effective Date were cancelled and extinguished as of the Effective Date. Performance Share Plans : 2017 Stock Incentive Plan. On the Effective Date, the Ultra Petroleum Corp. 2017 Stock Incentive Plan (“2017 Stock Incentive Plan”) was established pursuant to which 7.5% of the equity in the reorganized Company (on a fully-diluted/fully-distributed basis) is reserved for grants to be made from time to time to the directors, officers, and other employees of the reorganized Company (the “Reserve”). Also on the Effective Date, 40% of the Reserve (“Initial MIP Grants”) was granted to members of the board of directors, officers, and other employees of the reorganized Company subject to the conditions and performance requirements provided in the grants, including the limitations that one-third of the Initial MIP Grants will vest, if at all, at such time when the total enterprise value of the Company equals or exceeds $6.0 billion based upon the volume weighted average price of the common stock during a consecutive 30-day period, that one-third of the Initial MIP Grants will vest, if at all, at such time when the total enterprise value of the Company equals or exceeds 110% of $6.0 billion based upon the volume weighted average price of the common stock during a consecutive 30-day period, and, that if any Initial MIP Grants do not vest before the fifth anniversary of the Effective Date, such Initial MIP Grants shall automatically expire. The balance of the Reserve is available to be granted by the Board from time to time. Stock-Based Compensation Cost : Modification. On the Effective Date, as provided in the Plan, all outstanding awards established prior to the Effective Date were cancelled and extinguished, and participants received no payment or other distribution on account of the outstanding awards. Under FASB ASC Topic 718, Compensation Cost – Stock Compensation (“FASB ASC 718”), the cancellation of an outstanding award of stock based compensation followed by the issuance of a replacement award is treated as a modification of the original award. The equity award cancellations and subsequent new grants by the Company were considered Type I, probable to probable modification. This type represents modifications where the award was likely to vest prior to modification and is still likely to vest after modification. For these types of modifications, the fair value of the award is assessed both prior to modification and after modification. If the fair value after modification exceeds the fair value prior to modification, incremental expense is generated and recognized over the remaining vesting period. During the quarter ended September 30, 2017, the Board approved a modification to the Initial MIP Grants made under the 2017 Stock Incentive Plan. Certain grants made during the second quarter to members of the Board of Directors of the Company for the portion of the Initial MIP Grants related to the $6.0 billion total enterprise value and the portion of the Initial MIP Grants related to the $6.6 total enterprise value were forfeited and cancelled by the Board. In addition, an Initial MIP Grant was made to two of the members of the Board of Directors as previously reported on Forms 4 filed with the SEC. The related non-cash stock compensation expenses are reflected in general and administrative expenses in the Consolidated Statement of Operations. Market-Based Condition Awards. When vesting of an award of stock-based compensation is dependent, at least in part, on the value of a company’s total equity, for purposes of FASB ASC 718, the award is considered to be subject to a “market condition”. Because the Company’s total equity value is a component of its enterprise value, the awards based on enterprise value are considered to be subject to a market condition. Unlike the valuation of an award that is subject to a service condition (i.e., time vested awards) or a performance condition that is not related to stock price, FASB ASC 718 requires the impact of the market condition to be considered when estimating the fair value of the award. As a result, we have used a Monte Carlo simulation model to estimate the fair value of the awards that include a market condition. FASB ASC 718 requires the expense for an award of stock based compensation that is subject to a market condition that can be attained at any point during the performance period to be recognized over the shorter of (a) the period between the date of grant and the date the market condition is attained, and (b) the award’s derived service period. For purposes of FASB ASC 718, the derived service period represents the duration of the median of the distribution of share price paths on which the market condition is satisfied. That median is the middle share price path (the midpoint of the distribution of paths) on which the market condition is satisfied. The duration is the period of time from the service inception date to the expected date of market condition satisfaction. Compensation expense is recognized regardless of whether the market condition is actually satisfied. Expense. For the nine months ended September 30, 2017, the Company recognized $34.2 million in pre-tax compensation expense, of which $32.9 million related to the Initial MIP Grants. During the nine months ended September 30, 2016, the Company recognized $4.0 million in pre-tax compensation expense, of which $3.3 million related to the 2014 and 2015 LTIP awards of restricted stock units. The Company expects the total expense associated with the portion of the Initial MIP Grant that vests if the $6.0 billion total enterprise value performance requirement is satisfied to be $22.1 million and the portion of the Initial MIP Grant that vests if the $6.6 billion total enterprise value performance requirement is satisfied to be $20.9 million, respectively. One-third of the Initial MIP Grants were paid in shares of the Company’s stock to members of its board of directors as well as its officers and other employees during the nine months ended September 30, 2017 and totaled $26.1 million (1,238,665 shares), of which a portion was capitalized in oil and gas properties and equipment as noted in the valuation and expense information above.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	5. INCOME TAXES: The Company’s overall effective tax rate on pre-tax income was different than the statutory rate of 35% due primarily to valuation allowances. The Company has recorded a valuation allowance against all deferred tax assets as of September 30, 2017. Some or all of this valuation allowance may be reversed in future periods against future income. A tax benefit and corresponding tax receivable of approximately $6.9 million has been recorded for the quarter ended September 30, 2017 related to expected U.S. cash tax refunds. The reorganization of the Company is considered to have resulted in a change of control for U.S. Income Tax purposes under IRC Section 382. However, pursuant to the special rules under IRC Section 382(h), the Company’s U.S. tax attributes, including its Net Operating Loss (NOL), is not expected to be subject to significant limitations due to the change of control .

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	6. DERIVATIVE FINANCIAL INSTRUMENTS: Objectives and Strategy: The Company’s major market risk exposure is in the pricing applicable to its natural gas and oil production. Realized pricing is currently driven primarily by the prevailing price for the Company’s natural gas production. Historically, prices received for natural gas production have been volatile and unpredictable. Pricing volatility is expected to continue. The prices we receive for our production depend on many factors outside of our control, including volatility in the differences between product prices at sales points and the applicable index price. The Company relies on various types of derivative instruments to manage its exposure to commodity price risk and to provide a level of certainty in the Company’s forward cash flows supporting the Company’s capital investment program. These types of instruments may include fixed price swaps, costless collars, or basis differential swaps. These contracts are financial instruments, and do not require or allow for physical delivery of the hedged commodity. While mitigating the effects of fluctuating commodity prices, these derivative contracts may limit the benefits we would receive from increases in commodity prices above the fixed hedge prices. The Company’s hedging policy limits the volumes hedged to not be greater than 50% of its forecasted production volumes without Board approval. Fair Value of Commodity Derivatives: FASB ASC 815 requires that all derivatives be recognized on the Consolidated Balance Sheets as either an asset or liability and be measured at fair value. Changes in the derivative’s fair value are recognized currently in earnings unless specific hedge accounting criteria are met. The Company does not apply hedge accounting to any of its derivative instruments. Derivative contracts that do not qualify for hedge accounting treatment are recorded as derivative assets and liabilities at fair value on the Consolidated Balance Sheets and the associated unrealized gains and losses are recorded as current income or expense in the Consolidated Statements of Operations. Unrealized gains or losses on commodity derivatives represent the non-cash change in the fair value of these derivative instruments and do not impact operating cash flows on the cash flow statement. Commodity Derivative Contracts: At September 30, 2017, the Company had the following open commodity derivative contracts to manage commodity price risks. For the fixed price swaps, the Company receives the fixed price for the contract and pays the variable price to the counterparty. For the collars, the Company pays the counterparty if the market price is above the ceiling price and the counterparty pays the Company if the market price is below the floor on a notional quantity. The reference prices of these commodity derivative contracts are typically referenced to index prices as published by independent third parties . Natural Gas: Type Commodity Reference Price Remaining Contract Period Volume - MMBTU/Day Average Price /MMBTU Fair Value - September 30, 2017 Asset (Liability) Fixed price swaps NYMEX-Henry Hub October 2017 575,000 $ 3.17 $ 3,430 NYMEX-Henry Hub Apr - Oct 2018 120,000 $ 2.96 $ 480 Type Commodity Reference Price Remaining Contract Period Volume - MMBTU/Day Floor Price ($/MMBTU) Ceiling Price ($/MMBTU) Fair Value - September 30, 2017 Asset (Liability) Collars NYMEX-Henry Hub Jan - Mar 2018 40,000 $ 3.23 $ 3.54 $ 222 The following table summarizes the pre-tax realized and unrealized gain (loss) the Company recognized related to its derivative instruments in the Consolidated Statements of Operations for the periods ended September 30, 2017 and 2016: For the Three Months For the Nine Months Ended September 30, Ended September 30, Commodity Derivatives: 2017 2016 2017 2016 Realized gain on commodity derivatives-natural gas (1) $ 8,884 $ — $ 8,016 $ — Unrealized (loss) gain on commodity derivatives (1) (4,234 ) — 4,133 — Total gain on commodity derivatives $ 4,650 $ — $ 12,149 $ — (1) Included in gain on commodity derivatives in the Consolidated Statements of Operations. The realized gain or loss on commodity derivatives relates to actual amounts received or paid or to be received or paid under the Company’s derivative contracts and the unrealized gain or loss on commodity derivatives represents the change in the fair value of these derivative instruments over the remaining term of the contract.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	7. FAIR VALUE MEASUREMENTS: As required by FASB ASC 820, the Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and establishes a three-level hierarchy for measuring fair value. Fair value measurements are classified and disclosed in one of the following categories: Level 1 : Quoted prices (unadjusted) in active markets for identical assets and liabilities that the Company has the ability to access at the measurement date. Level 2 : Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived from observable market data by correlation or other means. Instruments categorized in Level 2 include non-exchange traded derivatives such as over-the-counter forwards and swaps. Level 3 : Unobservable inputs for the asset or liability, including situations where there is little, if any, market activity for the asset or liability. Level 1 Level 2 Level 3 Total Assets: Current derivative asset $ — $ 4,153 $ — $ 4,153 Long-term derivative asset (1) — 16 — 16 Total derivative instruments $ — $ 4,169 $ — $ 4,169 Liabilities: Current derivative liability (2) $ — $ 22 $ — $ 22 Long-term derivative liability (3) — 15 — 15 Total derivative instruments $ — $ 37 $ — $ 37 (1) Included in other assets in the Consolidated Balance Sheet (2) Included in accrued liabilities in the Consolidated Balance Sheet (3) Included in other long-term obligations in the Consolidated Balance Sheet Fair Value of Financial Instruments The estimated fair value of financial instruments is the estimated amount at which the instrument could be exchanged currently between willing parties. The carrying amounts reported in the Consolidated Balance Sheets for cash and cash equivalents, restricted cash, accounts receivable, and accounts payable approximate fair value due to the immediate or short-term maturity of these financial instruments. The Company uses available market data and valuation methodologies to estimate the fair value of its debt. The valuation assumptions utilized to measure the fair value of the Company’s debt are considered Level 2 inputs. This disclosure is presented in accordance with FASB ASC Topic 825, Financial Instruments, and does not impact the Company’s financial position, results of operations or cash flows. September 30, 2017 December 31, 2016 (1) Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Term loan, secured due April 2024 $ 975,000 $ 975,000 $ — $ — 6.875% Notes, unsecured, due April 2022, issued 2017 700,000 713,790 — — 7.125% Notes, unsecured, due April 2025, issued 2017 500,000 505,000 — — Credit Facility, secured due January 2022 20,000 20,000 — — 7.31% Notes due March 2016, issued 2009 — — 62,000 64,266 4.98% Notes due January 2017, issued 2010 — — 116,000 123,967 5.92% Notes due March 2018, issued 2008 — — 200,000 224,025 5.75% Notes due December 2018, issued 2013 — — 450,000 465,630 7.77% Notes due March 2019, issued 2009 — — 173,000 204,854 5.50% Notes due January 2020, issued 2010 — — 207,000 233,932 4.51% Notes due October 2020, issued 2010 — — 315,000 337,528 5.60% Notes due January 2022, issued 2010 — — 87,000 99,983 4.66% Notes due October 2022, issued 2010 — — 35,000 38,225 6.125% Notes due October 2024, issued 2014 — — 850,000 893,325 5.85% Notes due January 2025, issued 2010 — — 90,000 106,299 4.91% Notes due October 2025, issued 2010 — — 175,000 193,665 Credit Facility due October 2016 — — 999,000 999,000 $ 2,195,000 $ 2,213,790 $ 3,759,000 $ 3,984,699 (1)

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies	8. COMMITMENTS AND CONTINGENCIES: The Plan provides for the treatment of claims against our bankruptcy estates, including claims for prepetition liabilities that have not otherwise been satisfied or addressed before we emerged from chapter 11 proceedings. As noted in this Quarterly Report on Form 10-Q, the claims resolution process associated with our chapter 11 proceedings is on-going, and we expect it to continue for an indefinite period of time. Pending Claims – Ultra Resources Indebtedness Our chapter 11 filings constituted events of default under Ultra Resources’ prepetition debt agreements. During our bankruptcy proceedings, many holders of this indebtedness filed proofs of claim with the Bankruptcy Court, asserting claims for the outstanding balance of the indebtedness, unpaid prepetition interest dates, unpaid postpetition interest (including interest at the default rates under the debt agreements), make-whole amounts, and other fees and obligations allegedly arising under the debt agreements. As previously disclosed, in connection with our emergence from bankruptcy and in accordance with the Plan, all of our obligations with respect to the Ultra Resources prepetition indebtedness and the associated debt agreements were cancelled, except to the limited extent expressly set forth in the Plan, and the holders of claims related to the indebtedness received payment in full of allowed claims (including with respect to outstanding principal, unpaid prepetition interest, and certain other prepetition fees and obligations arising under the debt agreements). In connection with confirmation and consummation of the Plan we entered into a stipulation with the claimants pursuant to which we agreed to establish and fund a $400.0 million reserve account after the Effective Date, pending resolution of make-whole and postpetition interest claims. On April 14, 2017, we funded the account. Following our emergence from bankruptcy, we continued to dispute the claims made by holders of the Ultra Resources’ indebtedness for certain make-whole amounts and postpetition interest at the default rates provided for in the debt agreements. As previously disclosed in a Current Report on Form 8-K filed with the SEC on September 22, 2017, the Bankruptcy Court denied the Company’s objection to the pending make-whole and postpetition interest claims. On October 6, 2017, the Bankruptcy Court entered an order requiring the Company to distribute amounts attributable to the disputed claims to the applicable parties. As ordered on October 12, 2017, substantially all of the moneys held in the Reserve Fund, totaling $400.3 million were distributed. In total, $399.0 million was distributed to the parties asserting the make-whole and post-petition interest claims and $1.3 million (the balance remaining after distributions to the parties asserting claims) was returned to the Company, see Note 9 for additional details. During the quarter, the Company recorded a liability for $399.0 million, which is comprised of $223.8 million included in accrued liabilities and $175.2 million included in interest payable in the Consolidated Balance Sheets. The $223.8 million represents the fees owed under the make-whole claims described above, which are included in reorganization items in the Consolidated Statements of Operations and the $175.2 million represents postpetition interest at the default rate as described above, which is included in interest expense in the Consolidated Statement of Operations. The Company has appealed the court order denying its objections to these claims, but it is not possible to determine the ultimate disposition of these matters at this time. Royalties On April 19, 2016, we received a preliminary determination notice from the Office of Natural Resources Revenue (“ONRR”) asserting that our allocation of certain processing costs and plant fuel use at certain processing plants were impermissibly charged as deductions in the determination of royalties owed under Federal oil and gas leases. We dispute the preliminary determination and raised, with ONRR, several matters we believed may not have been considered in the preliminary determination notice. ONRR filed a proof of claim in our bankruptcy proceedings asserting approximately $35.1 million in claims attributable to these royalty calculations. This claim and the preliminary determination notice could ultimately result in us being ordered to pay additional royalty to ONRR for prior, current and future periods. We are not able to determine the likelihood or range of any additional royalties or, if and when assessed, whether such amounts would be material. Oil Sales Contract On April 29, 2016, we received a letter from counsel to Sunoco Partners Marketing & Terminals L.P. (“SPMT”) asserting that (1) we had breached, by anticipatory repudiation, a contract for the purchase and sale of crude oil between Ultra Resources and SPMT and (2) the contract was terminated. In the letter, SPMT demanded payment for damages resulting from the breach in the amount of $38.6 million. On August 31, 2016, SPMT filed a proof of claim with the Bankruptcy Court for $16.9 million. On December 13, 2016, we filed an objection to SPMT’s proof of claim, and on December 14, 2016, we filed an adversary proceeding against SPMT related to its breach of the contract during the prepetition period (as amended, the “Sunoco Adversary”). In its April 25, 2017 reply to the Sunoco Adversary complaint, Sunoco asserted a counterclaim for matters addressed in its proof of claim. Litigation related to this matter is proceeding in the Bankruptcy Court. At this time, we are not able to determine the likelihood or range of damages owed to SPMT, if any, related to this matter, or, if and when such amounts are assessed, whether such amounts would be material. We anticipate SPMT’s claims will be resolved in connection with our chapter 11 proceedings. Other Claims The Company is party to lawsuits related to disputes with respect to overriding royalty and other interests in certain of our operated leases in Pinedale, Wyoming. At this time, no determination of the outcome of these claims can be made, or, if such claims are determined, whether any amounts related to these matters would be material. We are defending these cases vigorously, and we expect these claims to be resolved by the Bankruptcy Court. The Company is also currently involved in various routine disputes and allegations incidental to its business operations. While it is not possible to determine the ultimate disposition of these matters, the Company believes that the resolution of all such pending or threatened litigation is not likely to have a material adverse effect on the Company’s financial position or results of operations.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	9. SUBSEQUENT EVENTS: The Company has evaluated the period subsequent to September 30, 2017 for events that did not exist at the balance sheet date but arose after that date and determined that no subsequent events arose that should be disclosed in order to keep the financial statements from being misleading, except as set forth below. As previously disclosed in a Current Report on Form 8-K filed with the SEC on September 22, 2017, the Bankruptcy Court denied the Company’s objection to the pending make-whole and postpetition interest claims that remained following emergence from chapter 11 proceedings. On October 6, 2017, the Bankruptcy Court ordered that the amount held in the Reserve Fund be distributed to the respective holders of prepetition indebtedness, based on their applicable claims. On October 12, 2017, the Company released the $400.3 million out of the Reserve Fund. On October 13, 2017, the funds were distributed according to the Bankruptcy Court’s October 6, 2017 order. Undistributed funds of $1.3 million were returned to the Company, which was in accordance with the Distribution Notice filed with the Bankruptcy Court. See Note 8 for additional details.

Significant Accounting Polici19

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of presentation and principles of consolidation	(a) Basis of presentation and principles of consolidation:
Cash and Cash Equivalents	(b) Cash and Cash Equivalents:
Restricted Cash	(c) Restricted Cash:
Accounts Receivable	(d) Accounts Receivable:
Property, Plant and Equipment	(e) Property, Plant and Equipment:
Oil and natural gas properties	(f) Oil and Natural Gas Properties: The sum of net capitalized costs and estimated future development costs of oil and natural gas properties are amortized using the units-of-production method based on the Company’s proved reserves. Oil and natural gas reserves and production are converted into equivalent units based on relative energy content. Asset retirement costs are included in the base costs for calculating depletion. Under the full cost method, costs of unevaluated properties and major development projects expected to require significant future costs may be excluded from capitalized costs being amortized. The Company excludes significant costs until proved reserves are found or until it is determined that the costs are impaired. The Company reviews its unproved leasehold costs quarterly or when management determines that events or circumstances indicate that the recorded carrying value of the unevaluated properties may not be recoverable. The estimated prices used in the cash flow analysis are determined by management based on forward price curves for the related commodities, adjusted for average historical location and quality differentials. Estimates of cash flows related to probable and possible reserves are reduced by additional risk-weighting factors. Companies that use the full cost method of accounting for oil and natural gas exploration and development activities are required to perform a ceiling test calculation each quarter. The full cost ceiling test is an impairment test prescribed by SEC Regulation S-X Rule 4-10. The ceiling test is performed quarterly, on a country-by-country basis, utilizing the average of prices in effect on the first day of the month for the preceding twelve-month period in accordance with SEC Release No. 33-8995. The ceiling limits such pooled costs to the aggregate of the present value of future net revenues attributable to proved crude oil and natural gas reserves discounted at 10%, plus the lower of cost or market value of unproved properties, less any associated tax effects. If such capitalized costs exceed the ceiling, the Company will record a write-down to the extent of such excess as a non-cash charge to earnings. Any such write-down will reduce earnings in the period of occurrence and results in a lower depletion, depreciation and amortization (“DD&A”) rate in future periods. A write-down may not be reversed in future periods even though higher oil and natural gas prices may subsequently increase the ceiling. The Company did not incur a ceiling test write-down during the nine months ended September 30, 2017 or 2016.
Inventories	(g) Inventories:
Deferred Financing Costs	(h) Deferred Financing Costs: Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs
Derivatives Instruments	(i) Derivative Instruments and Hedging Activities:
Income Taxes	(j) Income Taxes:
Equity Interests	(k) Equity Interests: In accordance with the Plan, each of the Company’s equity interests outstanding prior to the Effective Date were cancelled and each such equity interest has no further force or effect after the Effective Date. Pursuant to the Plan, the holders of the Company’s common shares outstanding prior to the Effective Date (the “Existing Common Shares”) received (i) their proportionate distribution of New Equity and (ii) the right to participate in the Rights Offering. The holders of all other equity interests in the Company received no distribution under the Plan in respect thereof.
Earnings Per Share	(l) Earnings Per Share: In conjunction with our emergence from chapter 11, on April 12, 2017, the Company issued shares of New Equity to holders of Existing Common Shares at a conversion ratio of 0.521562. As a result, the basic and fully diluted share counts have been presented to reflect this conversion as if it had occurred as of January 1, 2016. Share based payments subject to performance or market conditions are considered contingently issuable shares for purposes of calculating diluted earnings per share. Thus, they are not included in the diluted earnings per share denominator until the performance or market criteria are met. For the quarter and nine months ended September 30, 2017, the Company had 4.1 million contingently issuable shares that are not included in the diluted earnings per share denominator as the performance or market criteria have not been met (See Note 4). There were no contingently issuable shares outstanding for the quarter and nine months ended September 30, 2016. Three Months Nine Months Ended September 30, Ended September 30, 2017 2016 2017 2016 (Share amounts in 000's) Net income (loss) $ (327,727 ) $ 98,407 $ 81,611 $ 90,577 Weighted average common shares outstanding - basic 196,331 80,003 152,864 79,991 Effect of dilutive instruments — 381 204 370 Weighted average common shares outstanding - diluted 196,331 80,384 153,068 80,361 Net income (loss) per common share - basic $ (1.67 ) $ 1.23 $ 0.53 $ 1.13 Net income (loss) per common share - diluted $ (1.67 ) $ 1.22 $ 0.53 $ 1.13 Number of shares not included in dilutive earnings per share that would have been anti-dilutive because the exercise price was greater than the average market price of the common shares — 262 — 756
Use of Estimates	(m) Use of Estimates:
Share-Based Compensation	(n) Share-Based Compensation:
Fair Value Accounting	(o) Fair Value Accounting:
Asset Retirement Obligation	(p) Asset Retirement Obligation:
Revenue Recognition	(q) Revenue Recognition: Make-up provisions and ultimate settlements of volume imbalances are generally governed by agreements between the Company and its partners with respect to specific properties or, in the absence of such agreements, through negotiation. The value of volumes over- or under-produced can change based on changes in commodity prices. The Company prefers the entitlements method of accounting for oil and natural gas sales because it allows for recognition of revenue based on its actual share of jointly owned production, results in better matching of revenue with related operating expenses, and provides balance sheet recognition of the estimated value of product imbalances. The Company’s imbalance obligations as of September 30, 2017 and December 31, 2016 were immaterial.
Other Revenues	(r) Other revenues
Capital Cost Accrual	(s) Capital Cost Accrual:
Reclassification	(t) Reclassifications:
Deposits and Retainers	(u) Deposits and Retainers:
Recent Accounting Pronouncements	(v) Recent Accounting Pronouncements: Statement of Cash Flows. In November 2016, the FASB issued ASU 2016-18, (“ASU No. 2016-18”). The guidance requires that an explanation is included in the cash flow statement of the change in the total of (1) cash, (2) cash equivalents, and (3) restricted cash or restricted cash equivalents. ASU No. 2016-18 also clarifies that transfers between cash, cash equivalents and restricted cash or restricted cash equivalents should not be reported as cash flow activities and requires the nature of the restrictions on cash, cash equivalents, and restricted cash or restricted cash equivalents to be disclosed. For public companies, the standard will take effect for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 with earlier application permitted. The Company is still evaluating the impact of ASU No. 2016-18 on its consolidated financial statements. Statement of Cash Flows. In August 2016, the FASB issued ASU 2016-15, (“ASU No. 2016-15”). The guidance requires that debt prepayment or debt extinguishment costs, including third-party costs, premiums paid, and other fees paid to lenders, be classified as cash outflows for financing activities. For public companies, the standard will take effect for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 with earlier application permitted. The Company does not expect the adoption of ASU No. 2016-15 to have a material impact on its consolidated financial statements. Leases. In February 2016, the FASB issued ASU 2016-02, (“ASU No. 2016-02”). The guidance requires that lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months. The ASU will also require disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative information. For public companies, the standard will take effect for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018 with earlier application permitted. The Company is still evaluating the impact of ASU No. 2016-02 on its consolidated financial statements . Stock Compensation . In May 2017, the FASB issued ASU 2017-09, (“ASU No. 2017-09”) which is intended to clarify and reduce diversity in practice and cost and complexity when applying the guidance in Topic 718, Compensation-Stock Compensation, to a change to the terms or conditions of a share-based payment award. For public companies, the standard will take effect for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 with earlier application permitted. The Company does not expect the adoption of ASU No. 2017-09 to have a material impact on its consolidated financial statements. Revenue from Contracts with Customers. In May 2014, the FASB issued ASU 2014-09, and in 2016, the FASB issued ASU 2016-08, , and ASU 2016-10, , which supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and industry-specific guidance in Subtopic 932-605, Extractive Activities-Oil and Gas-Revenue Recognition. The new standard requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to be entitled to in exchange for those goods or services. We are currently evaluating the provisions of ASU 2014-09 and assessing the impact, if any, it may have on our financial position and results of operations. As part of our assessment work to date, we have completed training of the new ASU’s revenue recognition model, dedicated resources to its implementation, and initiated contract review and documentation; including analyzing the standard’s impact on our contract portfolio, comparing historical accounting policies and practices to the requirements of the new standard, and identifying differences from applying the requirements of the new standards to our contracts. We are evaluating the expanded disclosure requirements under the new standard and are also reviewing our processes, systems, and internal controls over financial reporting to ensure the appropriate information will be available for these disclosures. While we are continuing to assess all potential impacts of the standard, we currently believe the most significant impacts relate to principal versus agent considerations and the use of the entitlements method for oil and natural gas sales, both of which are continuing to be evaluated by the Company. The Company is required to adopt the new standards in the first quarter of 2018 using one of two application methods: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Company currently anticipates adopting the standard using the modified retrospective method.

Chapter 11 Proceedings (Tables)

Chapter 11 Proceedings (Tables)	9 Months Ended
	Sep. 30, 2017
Reorganizations [Abstract]
Schedule of Liabilities Subject to Compromise	The following table reconciles the settlement of liabilities subject to compromise included in our Consolidated Balance Sheets from December 31, 2016 through the nine months ended September 30, 2017: September 30, 2017 Liabilities subject to compromise at December 31, 2016 $ 4,038,041 Debt extinguishment - cash (2,521,493 ) Debt extinguishment - non-cash (1,339,740 ) Contract settlement (169,600 ) Reclassified to accrued liabilities (7,208 ) Liabilities subject to compromise at September 30, 2017 $ —
Schedule of Reorganization Items	The following table summarizes the components included in Reorganization items, net in our Consolidated Statements of Operations for the three and nine months ended September 30, 2017 and 2016: For the Three Months Ended For the Nine Months Ended September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Professional fees (1) $ (3,285 ) $ (3,215 ) $ (65,289 ) $ (6,797 ) Gains (losses) (2) — — 431,107 — Deferred financing costs — — — (18,742 ) Make-whole fees (3) (223,838 ) — (223,838 ) — Other (4) — 106 167 247 Total Reorganization items, net $ (227,123 ) $ (3,109 ) $ 142,147 $ (25,292 ) (1) (2) (3) (4)

Significant Accounting Polici21

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Schedule of Earnings Per Share	Three Months Nine Months Ended September 30, Ended September 30, 2017 2016 2017 2016 (Share amounts in 000's) Net income (loss) $ (327,727 ) $ 98,407 $ 81,611 $ 90,577 Weighted average common shares outstanding - basic 196,331 80,003 152,864 79,991 Effect of dilutive instruments — 381 204 370 Weighted average common shares outstanding - diluted 196,331 80,384 153,068 80,361 Net income (loss) per common share - basic $ (1.67 ) $ 1.23 $ 0.53 $ 1.13 Net income (loss) per common share - diluted $ (1.67 ) $ 1.22 $ 0.53 $ 1.13 Number of shares not included in dilutive earnings per share that would have been anti-dilutive because the exercise price was greater than the average market price of the common shares — 262 — 756

Oil and Gas Properties and Eq22

Oil and Gas Properties and Equipment (Tables)	9 Months Ended
	Sep. 30, 2017
Oil And Gas Property [Abstract]
Schedule of Oil and Gas Properties and Equipment	September 30, December 31, 2017 2016 Proven Properties: Acquisition, equipment, exploration, drilling and abandonment costs $ 11,158,940 $ 10,752,642 Less: Accumulated depletion, depreciation and amortization (9,843,820 ) (9,742,176 ) $ 1,315,120 $ 1,010,466

Debt and Other Long Term Obliga

Debt and Other Long Term Obligations (Tables)	9 Months Ended
	Sep. 30, 2017
Outstanding Debt And Other Long Term Obligations Tables [Abstract]
Summary of Outstanding Debt and Other Long Term Obligations	September 30, December 31, 2017 2016 (1) Total Debt: Term loan, secured due 2024 $ 975,000 $ — 6.875% Senior, unsecured Notes due 2022 700,000 — 7.125% Senior, unsecured Notes due 2025 500,000 — 6.125% Senior Notes due 2024 — 850,000 5.75% Senior Notes due 2018 — 450,000 Senior Notes issued by Ultra Resources, Inc. — 1,460,000 Credit Agreement 20,000 999,000 Total long-term debt 2,195,000 3,759,000 Less: Deferred financing costs (60,986 ) — Less: Liabilities subject to compromise (1) (See Note 1) — (3,759,000 ) Total long-term debt not subject to compromise $ 2,134,014 $ — Other long-term obligations: Other long-term obligations $ 190,922 $ 177,088 (1) All of our indebtedness that was outstanding at December 31, 2016 was classified as liabilities subject to compromise in the Consolidated Balance Sheets. See below for information about the indebtedness we incurred in connection with, and that is now outstanding, following our emergence from bankruptcy.

Share Based Compensation (Table

Share Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Valuation and Expense Information	Valuation and Expense Information Three Months Nine Months Ended September 30, Ended September 30, 2017 2016 2017 2016 Total cost of share-based payment plans $ 10,276 $ 1,706 $ 46,166 $ 5,756 Amounts capitalized in oil and gas properties and equipment $ 2,358 $ 442 $ 11,984 $ 1,789 Amounts charged against income, before income tax benefit $ 7,918 $ 1,264 $ 34,182 $ 3,967 Amount of related income tax benefit recognized in income before valuation allowance $ 3,151 $ 503 $ 13,604 $ 1,579

Derivative Financial Instrume25

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Open Commodity Derivative Contracts	Natural Gas: Type Commodity Reference Price Remaining Contract Period Volume - MMBTU/Day Average Price /MMBTU Fair Value - September 30, 2017 Asset (Liability) Fixed price swaps NYMEX-Henry Hub October 2017 575,000 $ 3.17 $ 3,430 NYMEX-Henry Hub Apr - Oct 2018 120,000 $ 2.96 $ 480 Type Commodity Reference Price Remaining Contract Period Volume - MMBTU/Day Floor Price ($/MMBTU) Ceiling Price ($/MMBTU) Fair Value - September 30, 2017 Asset (Liability) Collars NYMEX-Henry Hub Jan - Mar 2018 40,000 $ 3.23 $ 3.54 $ 222
Summary of Pre-tax Realized and Unrealized Gain (Loss) on Derivative Instruments	For the Three Months For the Nine Months Ended September 30, Ended September 30, Commodity Derivatives: 2017 2016 2017 2016 Realized gain on commodity derivatives-natural gas (1) $ 8,884 $ — $ 8,016 $ — Unrealized (loss) gain on commodity derivatives (1) (4,234 ) — 4,133 — Total gain on commodity derivatives $ 4,650 $ — $ 12,149 $ — (1) Included in gain on commodity derivatives in the Consolidated Statements of Operations.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value	Level 1 Level 2 Level 3 Total Assets: Current derivative asset $ — $ 4,153 $ — $ 4,153 Long-term derivative asset (1) — 16 — 16 Total derivative instruments $ — $ 4,169 $ — $ 4,169 Liabilities: Current derivative liability (2) $ — $ 22 $ — $ 22 Long-term derivative liability (3) — 15 — 15 Total derivative instruments $ — $ 37 $ — $ 37 (1) Included in other assets in the Consolidated Balance Sheet (2) Included in accrued liabilities in the Consolidated Balance Sheet (3) Included in other long-term obligations in the Consolidated Balance Sheet
Carrying Values and Estimated Fair Values of Financial Instruments	September 30, 2017 December 31, 2016 (1) Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Term loan, secured due April 2024 $ 975,000 $ 975,000 $ — $ — 6.875% Notes, unsecured, due April 2022, issued 2017 700,000 713,790 — — 7.125% Notes, unsecured, due April 2025, issued 2017 500,000 505,000 — — Credit Facility, secured due January 2022 20,000 20,000 — — 7.31% Notes due March 2016, issued 2009 — — 62,000 64,266 4.98% Notes due January 2017, issued 2010 — — 116,000 123,967 5.92% Notes due March 2018, issued 2008 — — 200,000 224,025 5.75% Notes due December 2018, issued 2013 — — 450,000 465,630 7.77% Notes due March 2019, issued 2009 — — 173,000 204,854 5.50% Notes due January 2020, issued 2010 — — 207,000 233,932 4.51% Notes due October 2020, issued 2010 — — 315,000 337,528 5.60% Notes due January 2022, issued 2010 — — 87,000 99,983 4.66% Notes due October 2022, issued 2010 — — 35,000 38,225 6.125% Notes due October 2024, issued 2014 — — 850,000 893,325 5.85% Notes due January 2025, issued 2010 — — 90,000 106,299 4.91% Notes due October 2025, issued 2010 — — 175,000 193,665 Credit Facility due October 2016 — — 999,000 999,000 $ 2,195,000 $ 2,213,790 $ 3,759,000 $ 3,984,699 (1)

Chapter 11 Proceedings - Additi

Chapter 11 Proceedings - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Apr. 12, 2017	Feb. 08, 2017	Nov. 21, 2016
Bankruptcy Proceedings [Line Items]
Petition date	Apr. 29, 2016
Court where petition was filed	United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”)
Plan confirmed date	Mar. 14, 2017
Plan expected to be effective date	Apr. 12, 2017
Claims settled	$ 399
BCA
Bankruptcy Proceedings [Line Items]
Rights offering, aggregate purchase price				$ 580
Barclays Bank PLC
Bankruptcy Proceedings [Line Items]
Secured and unsecured financing provided by Barclays			$ 2,400
Prepetition Credit Agreement
Bankruptcy Proceedings [Line Items]
Claims settled		$ 999
Prepetition Senior Notes
Bankruptcy Proceedings [Line Items]
Claims settled		1,460
Senior Unsecured Notes Due 2018
Bankruptcy Proceedings [Line Items]
Claims settled		450
Senior Unsecured Notes Due 2024
Bankruptcy Proceedings [Line Items]
Claims settled		$ 850

Chapter 11 Proceedings - Compon

Chapter 11 Proceedings - Components of Liabilities Subject to Compromise (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Liabilities Subject To Compromise [Abstract]
Liabilities subject to compromise at December 31, 2016	$ 4,038,041
Debt extinguishment - cash	(2,521,493)
Debt extinguishment - non-cash	(1,339,740)
Contract settlement	(169,600)
Reclassified to accrued liabilities	(7,208)
Liabilities subject to compromise at September 30, 2017	$ 0

Chapter 11 Proceedings - Costs

Chapter 11 Proceedings - Costs of Reorganization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Reorganization Items [Abstract]
Professional fees	$ (3,285)	$ (3,215)	$ (65,289)	$ (6,797)
Gains (losses)			431,107
Deferred financing costs				(18,742)
Make-whole fees	(223,838)		(223,838)
Other		106	167	247
Total Reorganization items, net	$ (227,123)	$ (3,109)	$ 142,147	$ (25,292)

Chapter 11 Proceedings - Cost30

Chapter 11 Proceedings - Costs of Reorganization (Parenthetical) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Reorganization Items [Abstract]
Accrued and unpaid professional fees	$ 3.8

Significant Accounting Polici31

Significant Accounting Policies - Additional Information (Details) $ in Millions	Apr. 12, 2017	Sep. 30, 2017USD ($)shares	Sep. 30, 2016shares	Sep. 30, 2017USD ($)shares	Sep. 30, 2016shares
Significant Accounting Policies [Line Items]
Discount rate future net revenues				10.00%
Conversion ratio	0.521562
Contingently issuable shares | shares		4,100,000	0	4,100,000	0
Reserve Account for Interest Claims
Significant Accounting Policies [Line Items]
Restricted cash | $		$ 400		$ 400

Significant Accounting Polici32

Significant Accounting Policies - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Earnings Per Share Reconciliation [Abstract]
Net income (loss)	$ (327,727)	$ 98,407	$ 81,611	$ 90,577	$ 56,151
Weighted average common shares outstanding - basic	196,331	80,003	152,864	79,991
Effect of dilutive instruments		381	204	370
Weighted average common shares outstanding - diluted	196,331	80,384	153,068	80,361
Net income (loss) per common share - basic	$ (1.67)	$ 1.23	$ 0.53	$ 1.13
Net income (loss) per common share - diluted	$ (1.67)	$ 1.22	$ 0.53	$ 1.13
Number of shares not included in dilutive earnings per share that would have been anti-dilutive because the exercise price was greater than the average market price of the common shares		262		756

Oil and Gas Properties and Eq33

Oil and Gas Properties and Equipment - Schedule of Oil and Gas Properties and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Proven Properties:
Acquisition, equipment, exploration, drilling and abandonment costs	$ 11,158,940	$ 10,752,642
Less: Accumulated depletion, depreciation and amortization	(9,843,820)	(9,742,176)
Proven	$ 1,315,120	$ 1,010,466

Debt and Other Long Term Obli34

Debt and Other Long Term Obligations - Summary of Outstanding Debt and Other Long Term Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Total Debt:
Total long-term debt	$ 2,195,000	$ 3,759,000
Less: Deferred financing costs	(60,986)
Less: Liabilities subject to compromise		(3,759,000)
Total long-term debt not subject to compromise	2,134,014	0
Other long-term obligations:
Other long-term obligations	190,922	177,088
Ultra Resources, Inc.
Total Debt:
Total long-term debt		1,460,000
Term Loan Secured Due 2024
Total Debt:
Total long-term debt	975,000
6.875% Senior, Unsecured Notes Due 2022
Total Debt:
Total long-term debt	700,000
7.125% Senior, Unsecured Notes Due 2025
Total Debt:
Total long-term debt	500,000
6.125% Senior Notes Due 2024
Total Debt:
Total long-term debt		850,000
5.75% Senior Notes Due 2018
Total Debt:
Total long-term debt		450,000
Credit Agreement
Total Debt:
Total long-term debt	20,000
Credit Agreement | Ultra Resources, Inc.
Total Debt:
Total long-term debt	$ 20,000
Credit Facility Due October 2016
Total Debt:
Total long-term debt		$ 999,000

Debt and Other Long Term Obli35

Debt and Other Long Term Obligations - Summary of Outstanding Debt and Other Long Term Obligations (Parenthetical) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Term Loan Secured Due 2024
Debt Instrument [Line Items]
Maturity date	Apr. 12, 2024
6.875% Senior, Unsecured Notes Due 2022
Debt Instrument [Line Items]
Maturity date	Apr. 15, 2022
Stated interest rate	6.875%
7.125% Senior, Unsecured Notes Due 2025
Debt Instrument [Line Items]
Maturity date	Apr. 15, 2025
Stated interest rate	7.125%
6.125% Senior Notes Due 2024
Debt Instrument [Line Items]
Maturity date		Oct. 1, 2024
Stated interest rate		6.125%
5.75% Senior Notes Due 2018
Debt Instrument [Line Items]
Maturity date		Dec. 15, 2018
Stated interest rate		5.75%

Debt and Other Long Term Obli36

Debt and Other Long Term Obligations - Ultra Resources, Inc. - Credit Agreement - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Apr. 12, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt, gross	$ 2,195,000		$ 3,759,000
RBL Credit Agreement
Debt Instrument [Line Items]
Long-term debt, gross	20,000
Ultra Resources, Inc.
Debt Instrument [Line Items]
Long-term debt, gross			$ 1,460,000
Ultra Resources, Inc. | RBL Credit Agreement
Debt Instrument [Line Items]
Credit facility, current borrowing capacity	425,000	$ 400,000
Long-term debt, gross	20,000
Ultra Resources, Inc. | RBL Credit Agreement | Bank Of Montreal
Debt Instrument [Line Items]
Borrowing Base	1,400,000	$ 1,200,000
Ultra Resources, Inc. | RBL Credit Agreement | Bank Of Montreal | Letters of Credit
Debt Instrument [Line Items]
Amount of commitments available for the issuance of letters of credit	$ 50,000
Ultra Resources, Inc. | RBL Credit Agreement | Bank Of Montreal | Revolving Credit Facility
Debt Instrument [Line Items]
Minimum required interest coverage ratio, as percentage	250.00%
Minimum required current ratio, as percentage	100.00%
Minimum required consolidated net leverage ratio, as percentage on or before December 31, 2017	425.00%
Minimum required consolidated net leverage ratio, as percentage after December 31, 2017	400.00%
Minimum required asset coverage ratio, as percentage on achievement of investment grade	150.00%
Line of credit facility, covenant compliance	Ultra Resources was in compliance with all of its debt covenants under the RBL Credit Agreement
Ultra Resources, Inc. | RBL Credit Agreement | Bank Of Montreal | Revolving Credit Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Variable rate	2.50%
Ultra Resources, Inc. | RBL Credit Agreement | Bank Of Montreal | Revolving Credit Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Variable rate	3.50%
Ultra Resources, Inc. | RBL Credit Agreement | Bank Of Montreal | Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Variable rate	1.50%
Ultra Resources, Inc. | RBL Credit Agreement | Bank Of Montreal | Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Variable rate	2.50%

Debt and Other Long Term Obli37

Debt and Other Long Term Obligations - Ultra Resources, Inc. - Term Loan - Additional Information (Details) - USD ($) $ in Thousands	Apr. 12, 2017	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt, gross		$ 2,195,000	$ 3,759,000
Ultra Resources, Inc.
Debt Instrument [Line Items]
Long-term debt, gross			$ 1,460,000
Ultra Resources, Inc. | Barclays Bank PLC | RBL Term Loan Secured Due 2024
Debt Instrument [Line Items]
RBL Credit Agreement, initial term loan	$ 800,000
RBL Credit Agreement, initial term loan upon emergence from chapter 11	600,000
RBL Credit Agreement, incremental term loan	$ 200,000	$ 175,000
Debt, original issue discount as percentage on principal	1.00%	0.25%
Debt, original issue discount		$ 400
Long-term debt, gross		$ 975,000
Amortization of term loan, quarterly basis		0.25%
Debt instrument, maturity term		7 years
Mandatory prepayment trigger, on asset coverage ratio		200.00%
Debt instrument, covenant compliance		At September 30, 2017, Ultra Resources was in compliance with all of its debt covenants under the Term Loan Facility.
Ultra Resources, Inc. | Barclays Bank PLC | RBL Term Loan Secured Due 2024 | LIBOR
Debt Instrument [Line Items]
Variable rate		3.00%
Ultra Resources, Inc. | Barclays Bank PLC | RBL Term Loan Secured Due 2024 | Base Rate
Debt Instrument [Line Items]
Variable rate		2.00%

Debt and Other Long Term Obli38

Debt and Other Long Term Obligations - Ultra Resources, Inc. - Senior Notes - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Apr. 12, 2017
6.875% Senior, Unsecured Notes Due 2022
Debt Instrument [Line Items]
Stated interest rate	6.875%
Maturity date	Apr. 15, 2022
7.125% Senior, Unsecured Notes Due 2025
Debt Instrument [Line Items]
Stated interest rate	7.125%
Maturity date	Apr. 15, 2025
Ultra Resources, Inc.
Debt Instrument [Line Items]
Interest payment terms	The 2022 Notes will mature on April 15, 2022. The interest payment dates for the 2022 Notes are April 15 and October 15 of each year, commencing on October 15, 2017. The 2025 Notes will mature on April 15, 2025. The interest payment dates for the 2025 Notes are April 15 and October 15 of each year, commencing on October 15, 2017. Interest will be paid on the Notes from the issue date until maturity.
Repurchase price percentage	101.00%
Ultra Resources, Inc. | 6.875% Senior, Unsecured Notes Due 2022
Debt Instrument [Line Items]
Debt instrument, face amount		$ 700,000,000
Stated interest rate		6.875%
Maturity date	Apr. 15, 2022
Redemption price percentage of principal amount	106.875%
Redemption criteria	If at least 65% of the original principal amount of the 2022 Notes remains outstanding and the redemption occurs within 180 days of the closing of such equity offering.
Ultra Resources, Inc. | 6.875% Senior, Unsecured Notes Due 2022 | Maximum
Debt Instrument [Line Items]
Redemption price percentage of aggregate principal amount	35.00%
Ultra Resources, Inc. | 6.875% Senior, Unsecured Notes Due 2022 | Twelve-Month Period Beginning on April 15, 2019
Debt Instrument [Line Items]
Redemption price percentage of principal amount	103.438%
Ultra Resources, Inc. | 6.875% Senior, Unsecured Notes Due 2022 | Twelve-Month Period Beginning April 15, 2020
Debt Instrument [Line Items]
Redemption price percentage of principal amount	101.719%
Ultra Resources, Inc. | 6.875% Senior, Unsecured Notes Due 2022 | Twelve-Month Period Beginning April 15, 2021
Debt Instrument [Line Items]
Redemption price percentage of principal amount	100.00%
Ultra Resources, Inc. | 7.125% Senior, Unsecured Notes Due 2025
Debt Instrument [Line Items]
Debt instrument, face amount		$ 500,000,000
Stated interest rate		7.125%
Maturity date	Apr. 15, 2025
Redemption price percentage of principal amount	107.125%
Redemption criteria	If at least 65% of the original principal amount of the 2025 Notes remains outstanding and the redemption occurs within 180 days of the closing of such equity offering.
Ultra Resources, Inc. | 7.125% Senior, Unsecured Notes Due 2025 | Maximum
Debt Instrument [Line Items]
Redemption price percentage of aggregate principal amount	35.00%
Ultra Resources, Inc. | 7.125% Senior, Unsecured Notes Due 2025 | Twelve-Month Period Beginning April 15, 2020
Debt Instrument [Line Items]
Redemption price percentage of principal amount	105.344%
Ultra Resources, Inc. | 7.125% Senior, Unsecured Notes Due 2025 | Twelve-Month Period Beginning April 15, 2021
Debt Instrument [Line Items]
Redemption price percentage of principal amount	103.563%
Ultra Resources, Inc. | 7.125% Senior, Unsecured Notes Due 2025 | Twelve-Month Period Beginning April 15, 2022
Debt Instrument [Line Items]
Redemption price percentage of principal amount	101.781%
Ultra Resources, Inc. | 7.125% Senior, Unsecured Notes Due 2025 | Twelve-Month Period Beginning April 15, 2023
Debt Instrument [Line Items]
Redemption price percentage of principal amount	100.00%

Share Based Compensation - Sche

Share Based Compensation - Schedule of Valuation and Expense Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share Based Compensation Allocation And Classification In Financial Statements [Abstract]
Total cost of share-based payment plans	$ 10,276	$ 1,706	$ 46,166	$ 5,756
Amounts capitalized in oil and gas properties and equipment	2,358	442	11,984	1,789
Amounts charged against income, before income tax benefit	7,918	1,264	34,182	3,967
Amount of related income tax benefit recognized in income before valuation allowance	$ 3,151	$ 503	$ 13,604	$ 1,579

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Details) - USD ($)	Apr. 12, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award
Total cost of share based payment plans		$ 7,918,000	$ 1,264,000	$ 34,182,000	$ 3,967,000
Stock issued to employees				$ 26,673,000
Performance Shares | Stock Incentive Plan 2017
Share-based Compensation Arrangement by Share-based Payment Award
Percent of equity reserved for directors, officers and other employees	7.50%
Performance Shares | Management Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Percentage of reserve granted	40.00%
Vesting description				Also on the Effective Date, 40% of the Reserve (“Initial MIP Grants”) was granted to members of the board of directors, officers, and other employees of the reorganized Company subject to the conditions and performance requirements provided in the grants, including the limitations that one-third of the Initial MIP Grants will vest, if at all, at such time when the total enterprise value of the Company equals or exceeds $6.0 billion based upon the volume weighted average price of the common stock during a consecutive 30-day period, that one-third of the Initial MIP Grants will vest, if at all, at such time when the total enterprise value of the Company equals or exceeds 110% of $6.0 billion based upon the volume weighted average price of the common stock during a consecutive 30-day period, and, that if any Initial MIP Grants do not vest before the fifth anniversary of the Effective Date, such Initial MIP Grants shall automatically expire.
Performance Shares | Management Incentive Plan | Vest One-third Upon Reaching a Total Enterprise Value Equals or Exceeds $6.0 Billion
Share-based Compensation Arrangement by Share-based Payment Award
Vesting percentage	0.33%
Total enterprise value	$ 6,000,000,000
Performance Shares | Management Incentive Plan | Vest One-third Upon Reaching a Total Enterprise Value Equals or Exceeds 110% of $6.0 Billion or $6.6 Billion
Share-based Compensation Arrangement by Share-based Payment Award
Vesting percentage	0.33%
Total enterprise value	$ 6,000,000,000
Percentage of enterprise value	110.00%
Stock-Based Compensation Cost
Share-based Compensation Arrangement by Share-based Payment Award
Payment or other distribution on account of the LTIPs	$ 0
Total cost of share based payment plans				$ 34,200,000	4,000,000
Stock-Based Compensation Cost | Management Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Total cost of share based payment plans				32,900,000
Stock issued to employees				$ 26,100,000
Numbers of shares issued to employees				1,238,665
Stock-Based Compensation Cost | Management Incentive Plan | Vest One-third Upon Reaching a Total Enterprise Value Equals or Exceeds $6.0 Billion
Share-based Compensation Arrangement by Share-based Payment Award
Total enterprise value		6,000,000,000		$ 6,000,000,000
Expected share-based compensation expense		22,100,000		22,100,000
Stock-Based Compensation Cost | Management Incentive Plan | Vest One-third Upon Reaching a Total Enterprise Value Equals or Exceeds 110% of $6.0 Billion or $6.6 Billion
Share-based Compensation Arrangement by Share-based Payment Award
Total enterprise value		6,600,000,000		6,600,000,000
Expected share-based compensation expense		$ 20,900,000		$ 20,900,000
Stock-Based Compensation Cost | LTIP 2014 & 2015
Share-based Compensation Arrangement by Share-based Payment Award
Total cost of share based payment plans					$ 3,300,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Statutory tax rate			35.00%
Income tax (benefit) provision	$ (6,886)	$ 45	$ (6,884)	$ (305)
Income tax receivable	$ 6,886		$ 6,886		$ 2,099

Derivative Financial Instrume42

Derivative Financial Instruments - Additional Information (Details)	9 Months Ended
	Sep. 30, 2017
Maximum
Derivative [Line Items]
Commodity derivatives board authorization	50.00%

Derivative Financial Instrume43

Derivative Financial Instruments - Summary of Open Commodity Derivative Contracts (Details) $ in Thousands		9 Months Ended
		Sep. 30, 2017USD ($)MMBTU$ / MMBTU	Dec. 31, 2016USD ($)
Derivative [Line Items]
Assets, Fair Value		$ 4,153	$ 0
Liabilities, Fair Value	[1]	$ 22
Commodity Derivative Contract Fixed Price Swaps | Natural Gas | Derivative Contract, Assets
Derivative [Line Items]
Type		Fixed price swaps
Commodity Derivative Contract Fixed Price Swaps One | Natural Gas | Derivative Contract, Assets
Derivative [Line Items]
Commodity Reference Price		NYMEX-Henry Hub
Remaining Contract Period		October 2,017
Volume -MMBTU/Day | MMBTU		575,000
Average Price/MMBTU | $ / MMBTU		3.17
Assets, Fair Value		$ 3,430
Commodity Derivative Contract Fixed Price Swaps Two | Natural Gas | Derivative Contract, Assets
Derivative [Line Items]
Commodity Reference Price		NYMEX-Henry Hub
Remaining Contract Period		Apr - Oct 2018
Volume -MMBTU/Day | MMBTU		120,000
Average Price/MMBTU | $ / MMBTU		2.96
Assets, Fair Value		$ 480
Commodity Derivative Contract Collars | Natural Gas | Derivative Contract, Assets
Derivative [Line Items]
Type		Collars
Commodity Derivative Contract Collars One | Natural Gas | Derivative Contract, Assets
Derivative [Line Items]
Commodity Reference Price		NYMEX-Henry Hub
Remaining Contract Period		Jan - Mar 2018
Volume -MMBTU/Day | MMBTU		40,000
Floor Price ($/MMBTU) | $ / MMBTU		3.23
Ceiling Price ($/MMBTU) | $ / MMBTU		3.54
Assets, Fair Value		$ 222
[1]	Included in accrued liabilities in the Consolidated Balance Sheet

Derivative Financial Instrume44

Derivative Financial Instruments - Summary of Pre-tax Realized and Unrealized Gain (Loss) on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Derivative [Line Items]
Unrealized (loss) gain on commodity derivatives		$ 4,133
Total gain on commodity derivatives	$ 4,650	12,149
Commodity Derivative Contract
Derivative [Line Items]
Unrealized (loss) gain on commodity derivatives	(4,234)	4,133
Total gain on commodity derivatives	4,650	12,149
Commodity Derivative Contract | Natural Gas
Derivative [Line Items]
Realized gain on commodity derivatives-natural gas	$ 8,884	$ 8,016

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Current derivative asset		$ 4,153	$ 0
Long-term derivative asset	[1]	16
Total derivative instruments		4,169
Current derivative liability	[2]	22
Long-term derivative liability	[3]	15
Total derivative instruments		37
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Current derivative asset		4,153
Long-term derivative asset	[1]	16
Total derivative instruments		4,169
Current derivative liability	[2]	22
Long-term derivative liability	[3]	15
Total derivative instruments		$ 37
[1]	Included in other assets in the Consolidated Balance Sheet
[2]	Included in accrued liabilities in the Consolidated Balance Sheet
[3]	Included in other long-term obligations in the Consolidated Balance Sheet

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Values and Estimated Fair Values of Financial Instruments (Details) - Level 2 - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	$ 2,195,000	$ 3,759,000
Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	2,213,790	3,984,699
Term Loan, Secured Due April 2024 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Term loan	975,000
Term Loan, Secured Due April 2024 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Term loan	975,000
6.875% Notes, Unsecured, Due April 2022, Issued 2017 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable	700,000
6.875% Notes, Unsecured, Due April 2022, Issued 2017 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable	713,790
7.125% Notes, Unsecured, Due April 2025, Issued 2017 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable	500,000
7.125% Notes, Unsecured, Due April 2025, Issued 2017 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable	505,000
Credit Facility Secured Due January 2022 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Credit facility	20,000
Credit Facility Secured Due January 2022 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Credit facility	$ 20,000
7.31% Notes Due March 2016, Issued 2009 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		62,000
7.31% Notes Due March 2016, Issued 2009 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		64,266
4.98% Notes Due January 2017, Issued 2010 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		116,000
4.98% Notes Due January 2017, Issued 2010 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		123,967
5.92% Notes Due March 2018, Issued 2008 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		200,000
5.92% Notes Due March 2018, Issued 2008 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		224,025
5.75% Notes Due December 2018, Issued 2013 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		450,000
5.75% Notes Due December 2018, Issued 2013 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		465,630
7.77% Notes Due March 2019, Issued 2009 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		173,000
7.77% Notes Due March 2019, Issued 2009 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		204,854
5.50% Notes Due January 2020, Issued 2010 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		207,000
5.50% Notes Due January 2020, Issued 2010 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		233,932
4.51% Notes Due October 2020, Issued 2010 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		315,000
4.51% Notes Due October 2020, Issued 2010 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		337,528
5.60% Notes Due January 2022, Issued 2010 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		87,000
5.60% Notes Due January 2022, Issued 2010 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		99,983
4.66% Notes Due October 2022, Issued 2010 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		35,000
4.66% Notes Due October 2022, Issued 2010 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		38,225
6.125% Notes Due October 2024, Issued 2014 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		850,000
6.125% Notes Due October 2024, Issued 2014 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		893,325
5.85% Notes Due January 2025, Issued 2010 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		90,000
5.85% Notes Due January 2025, Issued 2010 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		106,299
4.91% Notes Due October 2025, Issued 2010 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		175,000
4.91% Notes Due October 2025, Issued 2010 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes payable		193,665
Credit Facility Due October 2016 | Carrying Amount
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Credit facility		999,000
Credit Facility Due October 2016 | Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Credit facility		$ 999,000

Fair Value Measurements - Car47

Fair Value Measurements - Carrying Values and Estimated Fair Values of Financial Instruments (Parenthetical) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Term Loan, Secured Due April 2024
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year	2024-04
6.875% Notes, Unsecured, Due April 2022, Issued 2017
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year	2022-04
Stated interest rate	6.875%
Debt instrument issuance year	2,017
7.125% Notes, Unsecured, Due April 2025, Issued 2017
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year	2025-04
Stated interest rate	7.125%
Debt instrument issuance year	2,017
Credit Facility Secured Due January 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year	2022-01
7.31% Notes Due March 2016, Issued 2009
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2016-03
Stated interest rate		7.31%
Debt instrument issuance year		2,009
4.98% Notes Due January 2017, Issued 2010
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2017-01
Stated interest rate		4.98%
Debt instrument issuance year		2,010
5.92% Notes Due March 2018, Issued 2008
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2018-03
Stated interest rate		5.92%
Debt instrument issuance year		2,008
5.75% Notes Due December 2018, Issued 2013
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2018-12
Stated interest rate		5.75%
Debt instrument issuance year		2,013
7.77% Notes Due March 2019, Issued 2009
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2019-03
Stated interest rate		7.77%
Debt instrument issuance year		2,009
5.50% Notes Due January 2020, Issued 2010
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2020-01
Stated interest rate		5.50%
Debt instrument issuance year		2,010
4.51% Notes Due October 2020, Issued 2010
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2020-10
Stated interest rate		4.51%
Debt instrument issuance year		2,010
5.60% Notes Due January 2022, Issued 2010
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2022-01
Stated interest rate		5.60%
Debt instrument issuance year		2,010
4.66% Notes Due October 2022, Issued 2010
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2022-10
Stated interest rate		4.66%
Debt instrument issuance year		2,010
6.125% Notes Due October 2024, Issued 2014
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2024-10
Stated interest rate		6.125%
Debt instrument issuance year		2,014
5.85% Notes Due January 2025, Issued 2010
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2025-01
Stated interest rate		5.85%
Debt instrument issuance year		2,010
4.91% Notes Due October 2025, Issued 2010
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2025-10
Stated interest rate		4.91%
Debt instrument issuance year		2,010
Credit Facility Due October 2016
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instruments maturity month and year		2016-10

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Apr. 29, 2017	Aug. 31, 2016	Apr. 19, 2016	Sep. 30, 2017	Sep. 30, 2017	Oct. 12, 2017	Oct. 06, 2017	Apr. 14, 2017
Loss Contingencies [Line Items]
Claims settled				$ 399,000	$ 399,000
Make-whole fees included in reorganization items				223,838	223,838
Bankruptcy claims, amount of claims settled included in interest expense				175,200	175,200
Accrued Liabilities
Loss Contingencies [Line Items]
Make-whole fees included in reorganization items				223,800	223,800
Interest Payable
Loss Contingencies [Line Items]
Claims settled				$ 175,200	$ 175,200
Subsequent Event
Loss Contingencies [Line Items]
Bankruptcy claims, amount paid to settle claims						$ 400,300
Bankruptcy claims, undistributed amount returned							$ 1,300
Indebtedness Claims | Notes holders
Loss Contingencies [Line Items]
Claim reserve account after effective date								$ 400,000
Royalties | ONRR
Loss Contingencies [Line Items]
Bankruptcy claims amount			$ 35,100
Oil Sales Contract | SPMT
Loss Contingencies [Line Items]
Bankruptcy claims amount		$ 16,900
Damage sought value	$ 38,600

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Millions	Oct. 06, 2017	Sep. 30, 2017	Oct. 12, 2017
Subsequent Event [Line Items]
Bankruptcy claims, description of material contracts		On October 13, 2017, the funds were distributed according to the Bankruptcy Court’s October 6, 2017 order.
Court where petition was filed		United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”)
Subsequent Event
Subsequent Event [Line Items]
Bankruptcy claims, amount paid to settle claims			$ 400.3
Bankruptcy claims, undistributed amount returned	$ 1.3
Date to release funds for claims	Oct. 6, 2017
Date, funds distributed for claims	Oct. 13, 2017