Contango Oil & Gas (MCF) 10-K 14 Mar 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Mar. 09, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	CONTANGO OIL & GAS CO
Entity Central Index Key	1,071,993
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		19,408,841
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 155.2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 0	$ 0
Accounts receivable, net	20,504	25,309
Prepaid expenses and other	1,228	1,941
Inventory	540	2,166
Current deferred tax asset		1,624
Total current assets	22,272	31,040
Natural gas and oil properties, successful efforts method of accounting:
Proved properties	1,187,707	1,138,054
Unproved properties	16,439	35,783
Other property and equipment	1,081	1,084
Accumulated depreciation, depletion and amortization	(826,022)	(426,298)
Total property, plant and equipment, net	379,205	748,623
OTHER NON-CURRENT ASSETS:
Investments in affiliates	14,222	62,085
Other	1,057	1,667
Total other non-current assets	15,279	63,752
TOTAL ASSETS	416,756	843,415
CURRENT LIABILITIES:
Accounts payable and accrued liabilities	36,358	92,892
Current asset retirement obligations	4,603	4,123
Total current liabilities	40,961	97,015
NON-CURRENT LIABILITIES:
Long-term debt	115,446	63,359
Deferred tax liability		93,952
Asset retirement obligations	22,506	21,623
Total non-current liabilities	137,952	178,934
Total liabilities	$ 178,913	$ 275,949
COMMITMENTS AND CONTINGENCIES (NOTE 11)
SHAREHOLDERS’ EQUITY:
Common stock, $0.04 par value, 50 million shares authorized, 24,636,936 shares issued and 19,381,146 shares outstanding at December 31, 2015, 24,372,538 shares issued and 19,148,000 shares outstanding at December 31, 2014	$ 974	$ 963
Additional paid-in capital	239,524	233,278
Treasury shares at cost (5,255,790 shares at December 31, 2015 and 5,224,538 shares at December 31, 2014)	(127,760)	(127,525)
Retained earnings	125,105	460,750
Total shareholders’ equity	237,843	567,466
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 416,756	$ 843,415

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.04
Common stock, shares authorized	50,000,000
Common stock, shares issued	24,636,936	24,372,538
Common stock, shares outstanding	19,381,146	19,148,000
Treasury stock, shares	5,255,790	5,224,538

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
REVENUES:
Oil and condensate sales	$ 43,230	$ 130,238	$ 59,608
Natural gas sales	59,058	112,695	79,289
Natural gas liquids sales	14,217	33,525	25,224
Total revenues	116,505	276,458	164,121
EXPENSES:
Operating expenses	37,840	47,236	36,784
Exploration expenses	11,979	33,387	1,811
Impairment of natural gas and oil properties	285,877	47,693	776
Depreciation, depletion and amortization	133,380	156,117	65,529
General and administrative expenses	26,402	34,045	26,512
Total expenses	495,478	318,478	131,412
OTHER INCOME (EXPENSE):
Gain (loss) from investment in affiliates (net of income taxes)	(30,582)	6,923	2,310
Interest expense	(3,164)	(2,658)	(1,171)
Gain (loss) on derivatives, net	2,348	(153)	(1,132)
Other income (expense)	97	124	31,785
Total other income	(31,301)	4,236	31,792
NET INCOME (LOSS) BEFORE INCOME TAXES	(410,274)	(37,784)	64,501
Income tax benefit (provision)	75,226	15,910	(23,139)
NET INCOME (LOSS)	$ (335,048)	$ (21,874)	$ 41,362
Net income (loss) per Share (Basic)
Continuing operations (in dollars per share)	$ (17.67)	$ (1.15)	$ 2.56
Net income (loss) per share (Diluted) [Abstract]
Continuing operations (in dollars per share)	(17.67)	(1.15)	2.56
Diluted	$ (17.67)	$ (1.15)	$ 2.56
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	18,965	19,059	16,156
Diluted (in shares)	18,965	19,059	16,158

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (335,048)	$ (21,874)	$ 41,362
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	133,380	156,117	65,529
Impairment of Oil and Gas Properties	285,870	47,075	767
Exploration expenses	6,494	31,488	(9)
Deferred income taxes	(92,329)	(12,284)	13,159
Gain (loss) from investment in affiliates	(47,049)	10,651	3,554
Loss on sale of assets	231		(21,961)
Stock-based compensation	6,516	4,515	3,180
Unrealized loss (gain) on derivative instruments		(1,131)	1,410
Changes in operating assets and liabilities:
Decrease in accounts receivable and other receivables	4,261	28,942	(6,285)
Decrease (increase) in prepaid expenses	714	(19)	30
Decrease in accounts payable and advances from joint owners	(28,672)	(8,322)	(4,720)
Increase (decrease) in other accrued liabilities	(5,711)	(4,236)	3,569
Decrease in income taxes receivable, net	886	884	11,778
Other	1,314	(544)	782
Net cash provided by operating activities	24,955	209,960	105,037
CASH FLOWS FROM INVESTING ACTIVITIES:
Natural gas and oil exploration and development expenditures	(77,820)	(180,422)	(62,552)
Sale of oil and gas properties			20,000
Investments in affiliates			(15,397)
Return of investment in affiliates	1,014
Distributions from affiliates		5,365	23,154
Net cash used in investing activities	(76,806)	(175,057)	(34,795)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under credit facility	356,102	491,257	180,394
Repayments under credit facility	(304,016)	(517,898)	(90,394)
Payment of long-term debt			(235,373)
Purchase of common stock	(235)	(8,344)	(2,017)
Proceeds from exercised options		120	31
Excess tax benefit from exercise/cancellation of stock options	0	0	0
Debt issuance costs		(38)	(2,370)
Net cash provided by (used in) financing activities	51,851	(34,903)	(149,729)
NET CHANGE IN CASH AND CASH EQUIVALENTS			(79,487)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	0	0	79,487
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 0	$ 0	$ 0

Consolidated Statement Of Share

Consolidated Statement Of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2012	$ 805	$ 79,025	$ (117,163)	$ 441,262	$ 403,929
Balance, shares at Dec. 31, 2012	15,194,952
Acquisition of Crimson	$ 154	146,414			146,568
Acquisition of Crimson, shares	3,864,039
Exercise of stock options	$ 3	26			$ 29
Exercise of stock options, shares	791				791
Treasury shares at cost			(2,017)		$ (2,017)
Treasury shares at cost, shares	(52,370)
Stock-based compensation		3,179			3,179
Stock-based compensation, shares	356,299
Net loss				41,362	41,362
Balance at Dec. 31, 2013	$ 962	228,644	(119,180)	482,624	593,050
Balance, shares at Dec. 31, 2013	19,363,711
Balance at Dec. 31, 2012	$ 805	79,025	(117,163)	441,262	$ 403,929
Balance, shares at Dec. 31, 2012	15,194,952
Treasury shares at cost, shares					0
Balance at Dec. 31, 2015	$ 974	239,524	(127,760)	125,105	$ 237,843
Balance, shares at Dec. 31, 2015	19,381,146				19,381,146
Balance at Dec. 31, 2013	$ 962	228,644	(119,180)	482,624	$ 593,050
Balance, shares at Dec. 31, 2013	19,363,711
Exercise of stock options		120			$ 120
Exercise of stock options, shares	4,165				4,165
Treasury shares at cost			(8,345)		$ (8,345)
Treasury shares at cost, shares	(232,013)				(205,457)
Restricted shares activity	$ 1	(1)
Restricted shares activity, shares	12,137
Stock-based compensation		4,515			$ 4,515
Net loss				(21,874)	(21,874)
Balance at Dec. 31, 2014	$ 963	233,278	(127,525)	460,750	$ 567,466
Balance, shares at Dec. 31, 2014	19,148,000				19,148,000
Treasury shares at cost			(235)		$ (235)
Treasury shares at cost, shares	(31,252)
Restricted shares activity	$ 11	(10)			1
Dissolution of REX				(597)	(597)
Restricted shares activity, shares	264,398
Stock-based compensation		6,256			6,256
Net loss				(335,048)	(335,048)
Balance at Dec. 31, 2015	$ 974	$ 239,524	$ (127,760)	$ 125,105	$ 237,843
Balance, shares at Dec. 31, 2015	19,381,146				19,381,146

Organization And Business

Organization And Business	12 Months Ended
	Dec. 31, 2015
Organization And Business [Abstract]
Organization And Business	1. Organ ization and Business Contango Oil & Gas Company (collectively with its subsidiaries, “Contango” or the “Company”) is a Houston, Texas based, independent oil and natural gas company. The Company’s business is to maximize production and cash flow from its offshore properties in the shallow waters of the Gulf of Mexico (“GOM”) and onshore properties in various plays, and use that cash flow to explore, develop, exploit, produce and acquire crude oil and natural gas properties in the onshore Texas Gulf Coast and Rocky Mountain regions of the United States. On October 1, 2013, the Company completed a merger with Crimson Exploration Inc. ("Crimson"), in an all-stock transaction pursuant to which Crimson became a wholly-owned subsidiary of Contango (the "Merger"). As a result of the Merger, the Company issued approximately 3.9 million shares of common stock in exchange for all of Crimson's outstanding capital stock. See Note 4 - " Merger with Crimson Exploration Inc." for additional information. The Company has historically focused operations in the GOM, but the Merger has given the Company access to lower risk, long life resource plays. In 2015, the Company’s drilling activity focused primarily on the Woodbine oil and liquids-rich play in Madison and Grimes counties, Texas (the Southeast Texas Region), in the Cretaceous Sands in Fayette and Gonzales counties, Texas (the South Texas Region) and in Wyoming where the Company is initially targeting the Muddy Sandstone . The Company believes these plays could provide long-term growth potential from multiple formations that it believes to be productive for oil and natural gas. Additionally, the Company has (i) a 37% equity investment in Exaro Energy III LLC (“Exaro”) that is primarily focused on the development of proved natural gas reserves in the Jonah Field in Wyoming; (ii) operated properties producing from various conventional formations in various counties along the Texas Gulf Coast; (iii) operated producing properties in the Denver Julesburg Basin (“DJ Basin”) in Weld and Adams counties in Colorado, which the Company believes may also be prospective in the Niobrara Shale oil play; and (iv) operated producing properties in the Haynesville Shale, Mid Bossier and James Lime formations in East Texas. Due to the current challenging commodity price environment, the Company focused its 2015 capital program on: (i) the preservation of its healthy financial position, including limiting its overall capital expenditure budget to internally generated cash flow; (ii) dedicating capital primarily to de-risking and/or delineating strategic projects (i.e. versus field development); (iii) the identification of opportunities for cost and production efficiencies in all areas of its operations; and (iv) continuing to identify and, when appropriate, pursue the expansion of its resource potential through opportunistic acquisitions.

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and include the accounts of Contango Oil & Gas Company and its subsidiaries, after elimination of all material intercompany balances and transactions. All wholly-owned subsidiaries are consolidated. Oil and gas exploration and development affiliates which are not controlled by the Company, such as Republic Exploration LLC (“REX”), are proportionately consolidated. Financial statements as of December 31, 2015 and 2014 and for the three years ended December 31, 2015 contained herein, include consolidated results of operations of both Contango Oil & Gas Company and Crimson for the period from the closing date of the Merger to December 31, 2015 and only consolidated financial statements of Contango for all other the periods presented herein. Change of Year-End On October 1, 2013 , the Company's board of directors approved a change in fiscal year end from June 30 to December 31, commencing with the twelve-month period beginning on January 1, 2014. Unless otherwise noted, all references to "years" in this report refer to the twelve-month period which ends on December 31 of each year. Other Investments The Company has two seats on the board of directors of Exaro and has significant influence, but not control, over the company. As a result, the Company's 37% ownership in Exaro is accounted for using the equity method. Under the equity method, the Company's proportionate share of Exaro's net income increases the balance of its investment in Exaro, while a net loss or payment of dividends decreases its investment. In the consolidated statement of operations, the Company’s proportionate share of Exaro's net income or loss is reported as a single line-item in Gain (loss) from investment in affiliates (net of income taxes). Contango’s 21.9% ownership of Moblize Inc. (“Moblize”) and 2.0% indirect ownership of Alta Energy Canada Partnership, LLC ("Alta") are accounted for using the cost method, as the Company does not exercise significant influence over either company. Under the cost method, Contango records an investment at cost, and recognizes dividends or distributions received as income. Dividends received in excess of earnings subsequent to the date of investment are considered a return of investment and are recorded as reductions of cost of the investment. During the year ended December 31, 2013, the Company had a significant distribution from Alta in excess of its original investment. The gain in excess of the original investment is included in the Other income line item in the Company's statement of operations and in the investing cash flows in the Company's statement of cash flow for the year ended December 31, 2013. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The most significant estimates include oil and gas revenues, income taxes, stock-based compensation, reserve estimates, impairment of natural gas and oil properties, valuation of derivatives, and accrued liabilities. Actual results could differ from those estimates. Revenue Recognition Revenues from the sale of natural gas and oil produced are recognized upon the passage of title, net of royalties. Revenues from natural gas production are recorded using the sales method. When sales volumes exceed the Company’s entitled share, production imbalance occurs. If production imbalance exceeds the Company’s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. As of December 31, 2015 , 2014 and 2013, the Company had no significant imbalances. Cash Equivalents Cash equivalents are considered to be highly liquid investment grade debt investments having an original maturity of 90 days or less. As of December 31, 2015 , the Company had no cash and cash equivalents, as cash balances at the end of each day are transferred to reduce outstanding debt under our revolving credit facility to minimize debt service costs. Under the Company’s cash management system, checks issued but not yet presented to banks by the payee frequently result in book overdraft balances for accounting purposes and are classified in accounts payable in the consolidated balance sheets. At December 31, 2015, accounts payable included $6.8 million representing outstanding checks that had not been presented for payment net of cash balance in the bank as of December 31, 2015. At December 31, 2014, accounts payable included $12.1 million representing outstanding checks that had not been presented for payment net of cash balance in the bank as of December 31, 2014. Accounts Receivable The Company sells natural gas and crude oil to a limited number of customers. In addition, the Company participates with other parties in the operation of natural gas and crude oil wells. Substantially all of the Company’s accounts receivables are due from either purchasers of natural gas and crude oil or participants in natural gas and crude oil wells for which the Company serves as the operator. Generally, operators of natural gas and crude oil properties have the right to offset future revenues against unpaid charges related to operated wells. The allowance for doubtful accounts is an estimate of the losses in the Company’s accounts receivable. The Company periodically reviews the accounts receivable from customers for any collectability issues. An allowance for doubtful accounts is established based on reviews of individual customer accounts, recent loss experience, current economic conditions, and other pertinent factors. Amounts deemed uncollectible are charged to the allowance. Accounts receivable allowance for bad debt was $0.7 million and $0.6 million, as of December 31, 2015 and 2014 , respectively. At December 31, 2015 and 2014, the carrying value of the Company’s accounts receivable approximated fair value. Oil and Gas Properties - Successful Efforts The Company follows the successful efforts method of accounting for its natural gas and oil activities. Under the successful efforts method, lease acquisition costs and all development costs are capitalized. Exploratory drilling costs are capitalized until the results are determined. If proved reserves are not discovered, the exploratory drilling costs are expensed. Other exploratory costs, such as seismic costs and other geological and geophysical expenses, are expensed as incurred. Depreciation, depletion and amortization is calculated on a field by field basis using the unit of production method, with lease acquisition costs amortized over total proved reserves and other capitalized costs amortized over proved developed reserves. Depreciation, depletion and amortization ("DD&A") of capitalized drilling and development costs of producing natural gas and crude oil properties, including related support equipment and facilities net of salvage value, are computed using the unit-of-production method on a field basis based on total estimated proved developed natural gas and crude oil reserves. Amortization of producing leaseholds is based on the unit-of-production method using total estimated proved reserves. Upon sale or retirement of properties, the cost and related accumulated depreciation, depletion, and amortization are eliminated from the accounts and the resulting gain or loss, if any, is recognized. Unit-of-production rates are revised whenever there is an indication of a need, but at least annually. Revisions are accounted for prospectively as changes in accounting estimates. Other property and equipment are depreciated using the straight-line method over their estimated useful lives which range between three and 13 years. Impairment of Oil and Gas Properties When circumstances indicate that proved properties may be impaired, the Company compares expected undiscounted future cash flows on a field by field basis to the unamortized capitalized cost of the asset. If the estimated future undiscounted cash flows, based on the Company’s estimate of future reserves, natural gas and oil prices, operating costs and production levels from oil and natural gas reserves, are lower than the unamortized capitalized cost, then the capitalized cost is reduced to its fair value. The factors used to determine fair value include, but are not limited to, estimates of proved and probable reserves, future commodity prices, the timing of future production and capital expenditures and a discount rate commensurate with the risk reflective of the lives remaining for the respective oil and gas properties. Additionally, the Company may use appropriate market data to determine fair value. For the year ended December 31, 2015, the Company recorded an impairment expense of approximately $269.6 million related to proved properties. Approximately $235.8 million of this amount is attributable to the Madison/Grimes counties and Zavala/Dimmit/Karnes counties properties. For the year ended December 31, 2014, the Company recorded an impairment expense of approximately $11.4 million related to proved properties. Of this amount, $7.7 million related to South Timbalier 17 and $3.7 million related to the Tuscaloosa Marine Shale (“TMS”), a shale play in central Louisiana and Mississippi. No impairment of proved properties was recognized during the year ended December 31, 2013. Unproved properties are reviewed quarterly to determine if there has been an impairment of the carrying value, and any such impairment is charged to expense in the period. During the year ended December 31, 2015, the Company recognized impairment expense of approximately $16.3 million related to impairment and partial impairment of certain unproved properties and onshore prospects due primarily to the sustained low commodity price environment and expiring leases. Approximately $9.3 million of this amount is related to unproved lease cost amortization of the Elm Hill project in Fayette and Gonzales counties, Texas. On April 29, 2014, the Company reached total depth on its Ship Shoal 255 well, and no commercial hydrocarbons were found. As a result, for the year ended December 31, 2014, the Company recognized $31.5 million in exploration expense for the cost of drilling the well and $15.6 million in impairment expense, including $3.5 million related to leasehold costs and $12.1 million related to the platform located in Ship Shoal 263 block which was expected to be used by the Ship Shoal 255 well had it been successful. During the year ended December 31, 2014, the Company also recognized impairment expense of approximately $20.1 million related to impairment and partial impairment of certain unproved properties due to expiring leases and leases not likely to be drilled. Of this amount, approximately $9.7 million relates to undrilled offshore leases and approximately $9.7 million relates to undeveloped TMS acreage. For the year ended December 31, 2013, the Company recorded an impairment expense on unproved properties of $0.6 million related to leasehold costs on the Ship Shoal 83 prospect which it relinquished in August 2013, and $0.2 million related to leasehold costs on the Brazos Area 543 prospect. Asset Retirement Obligations ASC 410, Asset Retirement and Environmental Obligations (ASC 410) requires that the fair value of an asset retirement cost, and corresponding liability, should be recorded as part of the cost of the related long-lived asset and subsequently allocated to expense using a systematic and rational method. The Company records asset retirement obligations to reflect the Company's legal obligations related to future plugging and abandonment of its oil and natural gas wells, platforms and associated pipelines and equipment. The Company estimates the expected cash flows associated with the obligation and discounts the amounts using a credit-adjusted, risk-free interest rate. At least annually, the Company reassesses the obligation to determine whether a change in the estimated obligation is necessary. The Company evaluates whether there are indicators that suggest the estimated cash flows underlying the obligation have materially changed. Should these indicators suggest the estimated obligation may have materially changed on an interim basis (quarterly), the Company will accordingly update its assessment. Additional retirement obligations increase the liability associated with new oil and natural gas wells, platforms, and associated pipelines and equipment as these obligations are incurred. The liability is accreted to its present value each period and the capitalized cost is depleted over the useful life of the related asset. The accretion expense is included in depreciation, depletion and amortization expense. The estimated liability is based on historical experience in plugging and abandoning wells. The estimated remaining lives of the wells is based on reserve life estimates and federal and state regulatory requirements. The liability is discounted using an assumed credit-adjusted risk-free rate. Revisions to the liability could occur due to changes in estimates of plugging and abandonment costs, changes in the risk-free rate or changes in the remaining lives of the wells, or if federal or state regulators enact new plugging and abandonment requirements. At the time of abandonment, the Company recognizes a gain or loss on abandonment to the extent that actual costs do not equal the estimated costs. This gain or loss on abandonment is included in impairment and abandonment of oil and gas properties expense. See Note 12 - "Asset Retirement Obligation" for additional information. Income Taxes The Company follows the liability method of accounting for income taxes under which deferred tax assets and liabilities are recognized for the future tax consequences of (i) temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements and (ii) operating loss and tax credit carryforwards for tax purposes. Deferred tax assets are reduced by a valuation allowance when, based upon management’s estimates, it is more likely than not that a portion of the deferred tax assets will not be realized in a future period. The Company reviews its tax positions quarterly for tax uncertainties. The Company did not have significant uncertain tax positions as of December 31, 2015 . The amount of unrecognized tax benefits did not materially change from December 31, 2014 . The amount of unrecognized tax benefits may change in the next twelve months; however, the Company does not expect the change to have a significant impact on its financial position or results of operations. The Company includes interest and penalties in interest income and general and administrative expenses, respectively, in its statement of operations. The Company files income tax returns in the United States and various state jurisdictions. The Company’s federal tax returns for 1998 – 2014 , and state tax returns for 2009 – 2014 , remain open for examination by the taxing authorities in the respective jurisdictions where those returns were filed. Concentration of Credit Risk Substantially all of the Company’s accounts receivable result from natural gas and oil sales or joint interest billings to a limited number of third parties in the natural gas and oil industry. This concentration of customers and joint interest owners may impact the Company’s overall credit risk in that these entities may be similarly affected by changes in economic and other conditions. See Note 3 - "Concentration of Credit Risk" for additional information. Debt Issuance Costs Debt issuance costs incurred are capitalized and subsequently amortized over the term of the related debt. During the year ended December 31, 2013, the Company incurred $2.2 million of debt issuance costs relating to the new RBC credit facility entered into in conjunction with the Merger with Crimson. The debt issuance costs will be amortized over the original four year term of the credit line with amortization expense included in the Depreciation, Depletion and Amortization line item in the Company's income statement for the years ended December 31, 2015, 2014 and 2013. Stock-Based Compensation The Company applies the fair value based method to account for stock based compensation. Under this method, compensation cost is measured at the grant date based on the fair value of the award and is recognized over the requisite service period, which generally aligns with the award vesting period. The Company classifies the benefits of tax deductions in excess of the compensation cost recognized for the options (excess tax benefit) as financing cash flows. The fair value of each award is estimated as of the date of grant using the Black-Scholes option-pricing model. Inventory Inventory primarily consists of casing and tubing which will be used for drilling or completion of wells. Inventory is recorded at the lower of cost or market using specific identification method. Derivative Instruments and Hedging Activities The Company accounts for its derivative activities under the provisions of ASC 815, Derivatives and Hedging (ASC 815). ASC 815 establishes accounting and reporting that every derivative instrument be recorded on the balance sheet as either an asset or liability measured at fair value. As of December 31, 2015, the Company had not entered into any derivative contracts to reduce exposure to interest rate risk. However, from time to time, the Company hedges a portion of its forecasted oil and natural gas production. Derivative contracts entered into by the Company have consisted of transactions in which the Company hedges the variability of cash flow related to a forecasted transactions using variable to fixed swaps and collars. The Company elected to not designate any of its derivative positions for hedge accounting. Accordingly, the net change in the mark-to-market valuation of these positions as well as all payments and receipts on settled derivative contracts are recognized in "Gain (loss) on derivatives, net" on the consolidated statements of operations for the years ended December 31, 2015, 2014 and 2013. Derivative instruments with settlement date within one year are included in current assets or liabilities, whereas derivative instruments with settlement dates exceeding one year are included in non-current assets or liabilities. The Company calculates a net asset or liability for current and non-current derivative instruments for each counterparty based on the settlement dates within the respective contracts. As of December 31, 2015, there were no commodity hedges in place. In January 2016, the Company entered into financial derivative contracts with a member of its bank group resulting in 1,300,000 MMBtus of natural gas per month being hedged from February 2016 through July 2016 and from November 2016 through December 2016, and 250,000 MMBtus of natural gas per month being hedged from August 2016 through October 2016 through swaps. See Note 7 - "Derivative Instruments" for additional information. Reclassifications Certain reclassifications have been made to the presentation of certain, income statement and cash flow items in the respective statements for the year ended December 31, 2013 in order to conform to the presentation for the year ended December 31, 2014. These reclassifications were not material. Subsidiary Guarantees Contango Oil & Gas Company, as the parent company (the “Parent Company”), filed a registration statement on Form S-3 with the SEC to register, among other securities, debt securities that the Parent Company may issue from time to time. Crimson Exploration Inc., Crimson Exploration Operating, Inc., Contango Energy Company, Contango Operators, Inc., Contango Mining Company, Conterra Company, Contaro Company, Contango Alta Investments, Inc., Contango Venture Capital Corporation and any other of the Company’s future subsidiaries specified in the prospectus supplement (each a “Subsidiary Guarantor”) are Co-Registrants with the Parent Company under the registration statement, and the registration statement also registered guarantees of debt securities by the Subsidiary Guarantors. The Subsidiary Guarantors are wholly-owned by the Parent Company, either directly or indirectly, and any guarantee by the Subsidiary Guarantors will be full and unconditional. The Parent Company has no assets or operations independent of the Subsidiary Guarantors, and there are no significant restrictions upon the ability of the Subsidiary Guarantors to distribute funds to the Parent Company. The Parent Company has one other wholly-owned subsidiary that is inactive. Finally, the Parent Company’s wholly-owned subsidiaries do not have restricted assets that exceed 25% of net assets as of the most recent fiscal year end that may not be transferred to the Parent Company in the form of loans, advances or cash dividends by such subsidiary without the consent of a third party. Recent Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update No. 2016-02: Leases (Topic 842) (ASU 2016-02). The main objective of ASU 2016-02 is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The main difference between previous GAAP and Topic 842 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. ASU 2016-02 requires lessees to recognize assets and liabilities arising from leases on the balance sheet. ASU 2016-02 further defines a lease as a contract that conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Control over the use of the identified asset means that the customer has both (1) the right to obtain substantially all of the economic benefit from the use of the asset and (2) the right to direct the use of the asset. ASU 2016-02 requires disclosures by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. For public entities, ASU 2016-02 is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years; early application is permitted. The Company will continue to assess the impact this may have on its financial position, results of operations, and cash flows. In January 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update No. 2016-01: Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). The main objective of ASU 2016-01 is enhancing the reporting model for financial instruments to provide users of financial statements with more decision-useful information. The amendments in ASU 2016-01 make targeted improvements to GAAP by: (i) requiring equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) be measured at fair value with changes in fair value recognized in net income; (ii) simplifying the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; (iii) exempting all non-public business entities from disclosing fair value information for financial instruments measured at amortized cost; (iv) eliminating requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost on the balance sheet: (v) requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; (vi) requiring separate presentation in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; (vii) requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset; and (viii) clarifying that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. For public entities, ASU 2016-01 is effective for financial statements issued for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years; early application is permitted. The provisions of this accounting update are not expected to have a material impact on the Company’s financial position or results of operations. In November 2015, the FASB issued Accounting Standards Update No. 2015-17: Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes (ASU 2015-17). ASU 2015-17 is part of an initiative to reduce complexity in accounting standards. Current GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. However, this classification does not generally align with the time period in which the recognized deferred tax amounts are expected to be recovered or settled. To simplify the presentation of the deferred income taxes, ASU 2015-17 requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The current requirement that deferred tax liabilities and assets of an entity be offset and presented as a single amount is not affected by the amendments of ASU 2015-17. For public entities, ASU 2015-17 is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years; early application is permitted. The Company has selected early application starting with the financial statements issued for the year ended December 31, 2015. The provisions of this accounting update do not have a material impact on the Company’s financial position or results of operations. Accordingly, the deferred tax liability and valuation allowance are classified as non-current. In September 2015, the FASB issued Accounting Standards Update No. 2015-16: Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments (ASU 2015-16). ASU 2015-16 is part of an initiative to reduce complexity in accounting standards, and requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. In addition, the amendments of this update require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the changes to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. Furthermore, ASU 2015-16 requires an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustments to the provisional amounts had been recognized as of the acquisition date. For public entities, ASU 2015-16 is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The provisions of this accounting update are not expected to have a material impact on the Company’s financial position or results of operations. In August 2014, the FASB issued Accounting Standards Update No. 2014-15: Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (ASU 2014-15). ASU 2014-15 asserts that management should evaluate whether there are relevant condition or events that are known and reasonably knowable that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued or are available to be issued when applicable. If conditions or events at the date the financial statements are issued raise substantial doubt about an entity’s ability to continue as a going concern, disclosures are required which will enable users of the financial statements to understand the conditions or events as well as management’s evaluation and plan. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter; early application is permitted. The provisions of this accounting update are not expected to have a material impact on the Company’s financial position or results of operations. In May 2014, the FASB and the International Accounting Standards Board (“IASB”) jointly issued new accounting guidance for recognition of revenue Accounting Standards Update No. 2014-09: Revenue from Contracts with Customers (Topic 606) (ASU 2014-09). This new guidance replaces virtually all existing US GAAP and IFRS guidance on revenue recognition. ASU 2014-09 is effective for fiscal years beginning after December 15, 2016. This new guidance applies to all periods presented. Therefore, when the Company issues its financial statements on Forms 10-Q and 10-K for periods included in its year ended December 31, 2017, its comparative periods that are presented for the years ended December 31, 2015 and 2016, must be retrospectively presented in compliance with this new guidance. Early adoption is not allowed for US GAAP. The new guidance requires companies to make more estimates and use more judgment than under current accounting guidance. The Company does not anticipate that this new guidance will have a material impact on the Company’s consolidated financial position or results of operations for the periods presented. Further, management is closely monitoring the joint standard-setting efforts of the FASB and the International Accounting Standards Board. There are a large number of pending accounting standards that are being targeted for completion in 2016 and beyond. Because these pending standards have not yet been finalized, management is not able to determine the potential future impact that these standards will have, if any, on the Company's financial position, results of operations, or cash flows.

Concentration Of Credit Risk

Concentration Of Credit Risk	12 Months Ended
	Dec. 31, 2015
Concentration Of Credit Risk [Abstract]
Concentration Of Credit Risk	3. Concentration of Credit Risk The customer base for the Company is concentrated in the natural gas and oil industry. Major purchasers of the Company’s natural gas, oil and natural gas liquids for the year ended December 31, 201 5 were ConocoPhillips Company ( 48.3 % ), Sunoco Inc. ( 22.8% ), Energy Transfer Company ( 5.5 % ) Shell Trading US Company ( 5.2 % ) and ExxonMobil Oil Corp. ( 5.1% ) . The Company’s sales to these companies are not secured with letters of credit and in the event of non-payment, the Company could lose up to two months of revenues. The loss of two months of revenues would have a material adverse effect on the Company’s financial position. There are numerous other potential purchasers of the Company’s production.

Merger With Crimson Exploration

Merger With Crimson Exploration Inc.	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Merger With Crimson Exploration Inc.	4. Merger with Crimson Exploration Inc. On October 1, 2013, the Company completed the Merger with Crimson. The Merger was effected pursuant to an Agreement and Plan of Merger, dated as of April 29, 2013, by and among Contango, Crimson and certain subsidiaries (the “Merger Agreement”). As a result of the Merger, each share of Crimson common stock was converted into 0.08288 shares of common stock of Contango, and the Company issued approximately 3.9 million shares of common stock in exchange for all of Crimson's outstanding capital stock, resulting in Crimson stockholders owning 20.3% of the post-merger Contango. The Merger qualified as a tax-free reorganization for U.S. federal income tax purposes, so that none of the Company, Crimson, or any of its stockholders recognized any gain or loss in the Merger, except that Crimson's stockholders may have recognized gain or loss with respect to cash received in lieu of fractional shares of Company common stock. The Merger was accounted for as a business combination in accordance with ASC 805 which, among other things, requires assets acquired and liabilities assumed to be measured at their acquisition date fair values. Crimson's results of operations are reflected in the Company's consolidated statement of operations, beginning October 1, 2013. The following table summarizes the consideration transferred and the fair value of assets acquired, and liabilities assumed as of the date of the Merger (in thousands, except for number of shares and share price): Consideration transferred: Crimson common stock to be acquired by the Company 46,624,721 Exchange ratio of the Company common shares for each Crimson common share 0.08288 The Company common stock to be issued to Crimson stockholders 3,864,101 Closing price of the Company common stock on October 1, 2013 $ 37.75 Fair value of common stock issued $ 145,870 Cash paid for partial shares 6 Fair value of stock options issued 698 Total estimated consideration transferred $ 146,574 Fair value of other liabilities assumed: Current liabilities $ 60,124 Long-term debt 235,373 Asset retirement obligations and other non-current liabilities 12,967 Amount attributable to liabilities assumed 308,464 Total consideration including liabilities assumed $ 455,038 Fair value of assets acquired: Current assets $ 13,492 Current and non-current deferred tax asset, net 24,905 Natural gas and oil properties, net 416,433 Other non-current assets 208 Amount attributable to net assets acquired $ 455,038 Goodwill $ — As of December 31, 2013, estimates of the fair value of assets acquired and liabilities assumed were preliminary and based on information available at that time. The fair value estimate of certain of Crimson's assets and liabilities, including asset retirement obligations and current and deferred tax balances, could not be finalized at December 31, 2013 due to information not being available to the Company. During the quarter ended June 30, 2014, the Company completed an analysis of Crimson’s asset retirement obligations as of the acquisition date. Based on this analysis, the Company recorded a measurement period adjustment of $2.5 million to increase the asset retirement obligations liability. As of September 30, 2014, the Company had finalized the purchase price allocation for the Merger. Consideration paid by the Company consisted of approximately 3.9 million shares of Contango’s common stock issued in exchange for 46.6 million of Crimson’s shares outstanding as of September 30, 2013, including r estricted stock vesting at the t ransaction date and approximately 136,000 of vested Contango stock options issued to Crimson’s employees in exchange for all Crimson stock options issued and outstanding as of September 30, 2013. The number of options granted and the strike price of the options was adjusted using the same conversion ratio as for the exchange of common stock. All of Crimson’s restricted shares and stock options vested immediately prior to the merger. The purchase price was calculated assuming fair value of the Company’s stock of $37.75 per share based upon the closing price of the Company’s common stock as of October 1, 2013. Fair value of the Company’s options issued in exchange for Crimson’s stock options was calculated using the Black-Scholes Model by applying the following weighted-average assumptions: (a) risk-free interest rate of 0.62% to 1.35% ; (b) expected life of 2.70 to 4.79 years; (c) expected volatility of 29.3% to 38.6% ; and (d) expected dividend yield of 0% . The weighted average fair value per share for the options was estimated to be $5.14 . Immediately subsequent to the closing of the Merger, the Company assumed and immediately repaid Crimson’s $175.0 million term loan with Barclays Bank PLC ("Barclays") and other lenders, its $58.6 million in loans outstanding under its senior revolving credit facility with Wells Fargo and other lenders, and $1.8 million in accrued interest and prepayment premiums. In order to finance the assumed debt, the Company entered into a $500 million four -year revolving credit facility with Royal Bank of Canada and other lenders (the “RBC Credit Facility”) with an initial hydrocarbon supported borrowing base of $275 million. The RBC Credit Facility replaced the Company's $40 million revolving credit facility with Amegy Bank. The Company incurred $2.2 million of arrangement and upfront fees in connection with the RBC Credit Facility. Borrowings under the RBC Credit Facility bear interest at a rate that is dependent upon LIBOR or the U.S. prime rate of interest, plus a 0.5% to 2.5% margin dependent upon the amount outstanding. On October 1, 2013, the $235.4 million of assumed debt, accrued interest, and prepayment premium and $2.2 million of arrangement and upfront fees under the RBC Credit Facility were paid with the Company's existing cash of $127.6 million and drawings under the Company’s RBC Credit Facility of $110.0 million. Fair value of the deferred tax liabilities was calculated giving the tax effect of step-up adjustment for oil and gas properties. Contango received carryover tax basis in Crimson’s assets and liabilities because the merger is not a taxable transaction under the United States Internal Revenue Code. Based upon the purchase price allocation, a step-up in financial reporting carrying value related to the property to be acquired from Crimson resulted in an additional deferred tax liability of approximately $42.8 million assuming a 37% expected effective tax rate of the combined company. Additionally, fair value of the deferred tax assets was increased by approximately $10.2 million due to elimination of a valuation allowance included in the historical financial statements of Crimson. This adjustment was based on the expectation that it is more likely than not that the majority of $110 million of Crimson’s accumulated Net Operating Losses ("NOLs") will be realized by the combined company in the foreseeable future. At December 31, 2015, the Company has recorded a valuation allowance due to losses incurred post-merger. The fair value of Crimson’s oil and gas properties acquired was determined by using commodity prices based on future expected prices for oil, natural gas and NGLs, after adjustment for transportation fees and regional price differentials. There is no goodwill attributable to the Merger as the consideration transferred did not exceed the fair value of Crimson's net asse ts acquired on October 1, 2013.

Acquisitions, Dispositions And

Acquisitions, Dispositions And Gains From Affiliates	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Acquisitions, Dispositions And Gains From Affiliates	5. Acquisitions, Dispositions and Gains from Affiliates Acquisition of Additional Interest in Dutch Wells In December 2013, the Company exercised a preferential right and purchased an additional 7.84% working interest and 6.53% net revenue interest in the five Contango-operated Dutch wells from an independent oil and gas company for $18.8 million, subject to a purchase price adjustment, based on production and operating expenses between the effective date of July 1, 2013 and the closing date of December 12, 2013. During 2014, a purchase price adjustment of approximately $4.1 million reduced the purchase price to a total of $14.7 million, net to the Company. Southeast Texas Disposition On December 31, 2013, the Company sold to an independent oil and gas company approximately 7.1% of its interest in all developed and undeveloped properties in Madison and Grimes Counties for $20 million, subject to a purchase price adjustment, based on production and operating expenses between the effective date of July 1, 2013 and the closing date of December 31, 2013. A preliminary estimated adjustment to the sales price of approximately $0.4 million to increase the purchase price was recorded in 2013, and an adjustment of approximately $0.1 million to reduce the purchase price was recorded in 2014 resulting in final proceeds of $20.3 million. A loss of approximately $0.2 million and a gain of approximately $6.6 million related to this sale were recognized in the years ended December 31, 2014 and 2013, respectively. Proceeds from Alta In August 2013, Alta sold its interest in the liquids-rich Kaybob Duvernay, which closed in October 2013 for approximately $30.5 million, net to Contango. Contango has a 2% interest in Alta and a 5% interest in the Kaybob Duvernay project. The total distribution received from Alta during the year ended December 31, 2013 was approximately $23.1 million. An additional $5.4 million was received during 2014. The Company expects to receive the remaining $2.0 million once approved by Canadian regulatory officials. The total distributions from Alta are expected to exceed the Company’s original investment by $15.3 million.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	6. Fair Value Measurements Pursuant to ASC 820, Fair Value Measurements and Disclosures (ASC 820), the Company's determination of fair value incorporates not only the credit standing of the counterparties involved in transactions with the Company resulting in receivables on the Company's consolidated balance sheets, but also the impact of the Company's nonperformance risk on its own liabilities. ASC 820 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 (exit price). ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy assigns the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Level 2 measurements are inputs that are observable for assets or liabilities, either directly or indirectly, other than quoted prices included within Level 1. The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. As required by ASC 820, a financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. There have been no transfers between Level 1, Level 2 or Level 3. The Company had outstanding commodity price contracts during the years ended December 31, 2015 and 2014, which were settled prior to each year end. Thus, the Company did not have any outstanding commodity price contracts as of December 31, 201 5 and 2014 . In January 2016, the Company entered into financial derivative contracts with a member of its bank group resulting in 1,300,000 MMBtus of natural gas per month being hedged from February 2016 through July 2016 and from November 2016 through December 2016 , and 250,000 MMBtus of natural gas per month being hedged from August 2016 through October 2016 through swaps. Derivatives above are swaps that are carried at fair value for the appropriate period . The Company records the net change in the fair value of these positions in "Gain (loss) on derivatives, net" in the Company's consolidated statements of operations. The Company is able to value the assets and liabilities based on observable market data for similar instruments, which resulted in the Company reporting its derivatives as Level 2. This observable data includes the forward curves for commodity prices based on quoted markets prices and implied volatility factors related to changes in the forward curves. See Note 7 - "Derivative Instruments" for additional discussion of derivatives. During the year ended December 31, 2015, the Company's derivative contracts were with major financial institutions with investment grade credit ratings which were believed to have a minimal credit risk. As such, the Company was exposed to credit risk to the extent of nonperformance by the counterparties in the derivative contracts discussed above; however, the Company did not anticipate any nonperformance. T he counterparties to the Company's current and previous derivative contracts are lenders in the Company's RBC Credit Facility. The Company did not post collateral under any of these contracts as they were secured under the RBC Credit Facility. Estimates of the fair value of financial instruments are made in accordance with the requirements of ASC 825, Financial Instruments. The estimated fair value amounts have been determined at discrete points in time based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The estimated fair value of cash, accounts receivable and accounts payable approximates their carrying value due to their short-term nature. The estimated fair value of the Company's RBC Credit Facility approximates carrying value because the interest rate approximates current market rates and are re-set at least every three months. See Note 13 - "Long-Term Debt" for further information. Fair value estimates used for non-financial assets are evaluated at fair value on a non-recurring basis include oil and gas properties evaluated for impairment when facts and circumstances indicate that there may be an impairment. If the unamortized cost of properties exceeds the undiscounted cash flows related to the properties, the value of the properties is compared to the fair value estimated as discounted cash flows related to the risk-adjusted proved, probable and possible reserves related to the properties. Fair value measurements based on these inputs are classified as Level 3. Impairments Contango tests proved oil and gas properties for impairment when events and circumstances indicate a decline in the recoverability of the carrying value of such properties, such as a downward revision of the reserve estimates or lower commodity prices. The Company estimates the undiscounted future cash flows expected in connection with the oil and gas properties on a field by field basis and compares such future cash flows to the unamortized capitalized costs of the properties. If the estimated future undiscounted cash flows are lower than the unamortized capitalized cost, the capitalized cost is reduced to its fair value. The factors used to determine fair value include, but are not limited to, estimates of proved and probable reserves, future commodity prices, the timing of future production and capital expenditures and a discount rate commensurate with the risk reflective of the lives remaining for the respective oil and gas properties. Additionally, the Company may use appropriate market data to determine fair value. Because these significant fair value inputs are typically not observable, impairments of long-lived assets are classified as a Level 3 fair value measure. Asset Retirement Obligations The initial measurement of ARO at fair value is calculated using discounted cash flow techniques and based on internal estimates of future retirement costs associated with oil and gas properties. The factors used to determine fair value include, but are not limited to, estimated future plugging and abandonment costs and expected lives of the related reserves.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2015
Derivative Instruments [Abstract]
Derivative Instruments	7. Derivative Instruments The Company is exposed to certain risks relating to its ongoing business operations, such as commodity price risk. Derivative contracts are utilized to hedge the Company's exposure to price fluctuations and reduce the variability in the Company's cash flows associated with anticipated sales of future oil and natural gas production. The Company believes that derivative arrangements, although not free of risk, allowed us to achieve a more predictable cash flow and to reduce exposure to commodity price fluctuations. However, derivative arrangements limit the benefit of increases in the prices of crude oil, natural gas and natural gas liquids sales. Moreover, the Company’s derivative arrangements applied only to a portion of its production and provided only partial protection against declines in commodity prices. Such arrangements may expose us to risk of financial loss in certain circumstances. The Company continuously reevaluates its hedging programs in light of changes in production, market conditions, and commodity price forecasts. The Company had outstanding commodity price contracts during the year ended December 31, 2015, which were settled prior to year end. Thus, the Company did not have any outstanding derivative positions as of December 31, 2015 . In January 2016, the Company entered into financial derivative contracts with a member of its bank group resulting in 1,300,000 MMBtus of natural gas per month being hedged from February 2016 through July 2016 and from November 2016 through December 2016 , and 250,000 MMBtus of natural gas per month being hedged from August 2016 through October 2016 through swaps. Swaps are designed so that the Company receives or makes payments based on a differential between fixed and variable prices for crude oil and natural gas. A costless collar consists of a sold call, which establishes a maximum price the Company will receive for the volumes under contract and a purchased put that establishes a minimum price. A sold put option limits the exposure of the counterparty's risk should the price fall below the strike price. Sold put options limit the effectiveness of purchased put options at the low end of the put/call collars to market prices in excess of the strike price of the put option sold. It is the Company's practice to enter into derivative contracts only with counterparties that are creditworthy institutions deemed by management as competent and competitive market makers. The counterparties to the Company's current and previous derivative contracts are lenders or affiliates of lenders in the RBC Credit Facility. The Company does not post collateral under any of these contracts as they are secured under the RBC Credit Facility. The Company has elected not to designate any of its derivative contracts for hedge accounting. Accordingly, derivatives are carried at fair value on the consolidated balance sheets as assets or liabilities, with the changes in the fair value included in the consolidated statements of operations for the period in which the change occurs. The Company records the net change in the mark-to-market valuation of these derivative contracts, as well as all payments and receipts on settled derivative contracts, in "Gain (loss) on derivatives, net" on the consolidated statements of operations. See Note 6 – “Fair Value Measurements” for additional i nformation. There were no derivative contracts in place as of December 31, 2015 and 2014. The following table summarizes the effect of derivative contracts on the Consolidated Statements of Operations for the years ended December 31, 201 5, 2014 and 2013 (in thousands): Year ended December 31, Contract Type 2015 2014 2013 Crude oil contracts $ 2,348 $ 276 $ 180 Natural gas contracts — (1,560) 98 Realized gain (loss) $ 2,348 $ (1,284) $ 278 Crude oil contracts $ — $ 1,183 $ (1,179) Natural gas contracts — (52) (231) Unrealized gain (loss) $ — $ 1,131 $ (1,410) Gain (loss) on derivatives, net $ 2,348 $ (153) $ (1,132) In January 2016, the Company entered into the following financial derivative contracts with a member of its bank group: Commodity Period Derivative Volume/Month Price/Unit (1) Natural Gas Feb 2016 - July 2016 Swap 1,300,000 MMBtu $ 2.53 Natural Gas Aug 2016 - Oct 2016 Swap 250,000 MMBtu $2.53 Natural Gas Nov 2016 - Dec 2016 Swap 1,300,000 MMBtu $2.53 (1) Commodity price derivatives based on Henry Hub NYMEX natural gas prices.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2015
Stock-Based Compensation [Abstract]
Stock-Based Compensation	8. Stock Based Compensation As of December 31, 201 5 , the Company had in place a share-based compensation program which allows for stock options and/or restricted stock to be awarded to officers, directors and employees as a performance-based award. This program includes (i) the Company's Amended and Restated 2009 Incentive Compensation Plan (the “2009 Plan”); and (ii) the Crimson 2005 Stock Incentive Plan (the “2005 Plan” or "Crimson Plan") adopted in conjunction with the Merger. Amended and Restated 2009 Incentive Compensation Plan On September 15, 2009, the Company’s board of d irectors (the “Board”) adopted the Contango Oil & Gas Company Equity Compensation Plan (the “Original 2009 Plan”). On April 10, 2014, the Board amended and res tated the Original 2009 Plan th r o ugh the adoption of the Contango Oil & Gas Company Amended and Restated 2009 Incentive Compensation Plan. The 2009 Plan provides for both cash awards and equity awards (such as restricted stock and options) to officers, directors, employees or consultants of the Company. Awards made under the 2009 Plan are subject to such restrictions, terms and conditions, including forfeitures, if any, as may be determined by the Board. Under the terms of the 2009 Plan, up to 1,500,000 shares of the Company’s common stock may be issued for plan awards. Stock options under the 2009 Plan must have an exercise price of each option equal to or greater than the market price of the Company’s common stock on the date of grant. The Company may grant officers and employees both incentive stock options intended to qualify under Section 422 of the Internal Revenue Code of 1986, as amended, and stock options that are not qualified as incentive stock options. Stock option grants to non-employees, such as directors and consultants, can only be stock options that are not qualified as incentive stock options. Options granted generally expire after five or ten years. The vesting schedule for all equity awards varies from immediately to over a four -year period. As of December 31, 201 5 , the Company had approximately 0.9 million shares of common stock and stock options available for future grant under the 2009 Plan. In January 2016, the Company granted 38,943 stock awards to employees and 1,745 stock awards to its board of directors under the 2009 Plan as a result of the Salary Replacement Program. See Note 14 - “Commitments and Contingencies” for a description of the Salary Replacement Program. Effective January 1, 2014, the Company implemented performance-based long-term bonus plans under the 2009 Plan for the benefit of all employees through a Cash Incentive Bonus Plan ( “CIBP” ) and a Long-Term Incentive Plan ( “LTIP” ). The specific targeted performance measures under these sub-plans are approved by the Compensation Committee and/or the Board. Upon achieving the performance levels established each year, bonus awards under the CIBP and LTIP will be calculated as a percentage of base salary of each employee for the plan year. The CIBP and LTIP plan awards for each year are expected to be disbursed in the first quarter of the following year. Employees must be employed by the Company at the time that awards are disbursed to be eligible. The CIBP awards will be paid in cash while LTIP awards will consist of restricted common stock and/or stock options. The number of shares of restricted common stock and the number of shares underlying the stock options granted will be determined based upon the fair market value of the common stock on the date of the grant. 2005 Stock Incentive Plan The 2005 Plan was adopted by the Company's Board in conjunction with the Merger with Crimson. Under the 2005 Plan, the Board may grant incentive stock options, nonstatutory stock options, restricted awards, unrestricted awards, performance awards, stock appreciation rights and dividend equivalent rights to eligible officers, directors, employees or consultants of the Company and its affiliates. Awards made under the 2005 Plan are subject to such terms and conditions, without limitation, as may be determined by the Board. Options granted generally expire after ten years. The vesting schedule for all equity awards varies from immediately to over a four -year period. Upon adoption of the 2005 Plan at the Merger closing date, a total of 135,898 stock option awards and 136,428 shares of restricted stock (as converted, which all fully vested upon the Merger) were already issued and outstanding, leaving a balance of 43,472 shares of common stock or stock options available to be granted to Company employees and directors. On February 24, 2015, the Company granted 7,030 restricted stock awards under the 2005 Plan to a new employee pursuant to the LTIP . This plan expired on February 25, 2015 and therefore no additional shares are available for grant . Stock O ptions During the year s ended December 31, 2015 and 2014 , the Company did not issue any stock options. However, 13,473 stock options that were previously issued were forfeited, leaving 116,461 stock options vested and exercisable at December 31, 2015, with exercise prices ranging from $28.96 to $60.33 per share, with an average remaining contractual life of five years . During the year ended December 31, 2014, employees exercised 4,165 stock options to purchase shares of the Company’s common stock that were sold in the open market. During the year ended December 31, 2013, employees exercised 791 stock options to purchase shares of the Company’s common stock that were sold in the open market. A summary of the sto ck opti ons granted under the 2009 Plan and 2005 Plan as of and for the years ended December 31, 201 5 , 201 4 , and 201 3 is presented in the table below (dollars in thousands, except per share data): Year Ended December 31, 2015 2014 2013 Weighted Weighted Weighted Shares Average Shares Average Shares Average Under Exercise Under Exercise Under Exercise Options Price Options Price Options Price Outstanding, beginning of the period 129,934 $ 53.85 135,107 $ 53.00 — $ — Options assumed due to Merger — $ — — $ — 135,898 $ 52.90 Exercised — $ — (4,165) $ 28.93 (791) $ 36.16 Canceled / Forfeited (13,473) $ 43.65 (1,008) $ 42.39 — $ — Outstanding, end of year 116,461 $ 55.03 129,934 $ 53.85 135,107 $ 53.00 Aggregate intrinsic value $ — $ 4 $ 459 Exercisable, end of year 116,461 $ 55.03 129,934 $ 53.85 135,107 $ 53.00 Aggregate intrinsic value $ — $ 4 $ 459 Available for grant, end of the period 885,449 1,143,006 1,162,173 Weighted average fair value of options granted during the period $ — $ — $ — Under the fair value method of accounting for stock options, cash flows from the exercise of stock options resulting from tax benefits in excess of recognized cumulative compensation cost (excess tax benefits) are classified as financing cash flows. For the year ended December 31, 2015, there was no excess tax benefit recognized. For the year ended December 31, 2014, there was an insignificant excess tax benefit recognized. For the year ended December 31, 2013, there was no excess tax benefit recognized. See Note 2 – "Summary of Significant Accounting Policies". Compensation expense related to employee stock option grants are recognized over the stock option’s vesting period based on the fair value at the date the options are granted. The fair value of each option is estimated as of the date of grant using the Black-Scholes options-pricing model. During the years ended December 31, 2015, 2014 and 2013 , the Company did not recognize any stock option expense. The aggregate intrinsic value of stock options exercised/forfeited during the years ended December 31, 201 5 , 201 4 and 201 3 was approximately zero , $59,009 and $7,721 , respectively. Restricted Stock During the year ended December 31, 2015, the Company issued 249,917 restricted stock awards to new and existing employees, which vest over four years, plus an additional 27,204 restricted stock awards to the members of the board of directors which vest on the one -year anniversary of the date of grant. The weighted average fair value of the restricted shares granted during the year was $ 22.02 , with a total grant date fair value of approximately $6.1 million after adjustment for estimated weighted average forfeiture rate of 4.9 % . During the year ended December 31, 2014, the Company issued 10,714 restricted stock awards to new and existing employees pursuant to the LTIP , which vest over four years, plus an additional 15,672 restricted stock awards to the board of directors which vest on the one -year anniversary of the date of grant. The weighted average fair value of the restricted shares granted during the year was $40.83 , with a total grant date fair value of approximately $1.1 million after adjustment for estimated weighted average forfeiture rate of 2.2% . In November 2013, the Company issued 254,677 shares of restricted common stock to senior officers and certain other vice presidents pursuant to the LTIP , of which 25 percent vested immediately and the remaining balance vests over a three -year period. Also in November 2013, the Company issued 1,802 shares of restricted common stock to newly hired employees pursuant to the LTIP, which vest over a four -year period. In December 2013, the Company also issued 88,466 shares of restricted common stock to Company employees pursuant to the LTIP, which vest over a four -year period, plus an additional 11,354 shares of restricted common stock to the board of directors as compensation pursuant to the Company’s new director compensation plan which vest on the one -year anniversary of the date of grant. The weighted average fair value of the restricted shares granted during the fourth quarter of 2013 was $44.10 , with a total grant date fair value of approximately $8.1 million after adjustment for estimated weighted average forfeiture rate of 5.7% . Restricted stock activity as of December 31, 201 5, 201 4 and 2013 and for the years then ended is presented in the table below (dollars in thousands, except per share data): 2015 2014 2013 Weighted Aggregate Weighted Aggregate Weighted Aggregate Restricted Average Intrinsic Restricted Average Intrinsic Restricted Average Intrinsic Shares Fair Value Value Shares Fair Value Value Shares Fair Value Value Outstanding, beginning of the period 209,962 $ 43.86 $ 6,139 292,632 $ 44.38 $ 13,830 — $ — $ — Granted 277,121 21.83 6,049 26,386 40.83 1,073 356,299 44.10 15,723 Vested (137,195) 39.35 1,169 (94,807) 44.11 3,454 (63,667) 42.80 2,725 Canceled / Forfeited (12,723) 32.97 154 (14,249) 47.30 579 — — — Not vested, end of the period 337,165 28.16 2,161 209,962 43.86 6,139 292,632 44.38 13,830 Vested, end of the period — — — — — — — — — Expected to vest, end of the period 312,986 28.17 2,006 192,570 43.84 5,631 260,359 44.36 12,305 The Company recognized approximately $ 6.5 million, $4.5 millio n and $3.2 million in stock compensation expense during the years ended December 31, 2015, 2014 and 2013, respectively, for restricted shares granted to its officers, employees and directors. An additional $7.2 million of compensation expense will be recognized over the remaining vesting period.

Share Repurchase Programs

Share Repurchase Programs	12 Months Ended
	Dec. 31, 2015
Share Repurchase Programs [Abstract]
Share Repurchase Programs	9. Share Repurchase Program In September 2011, the Company’s board of directors approved a $ 50 million share repurchase program. All shares are to be purchased in the open market or through privately negotiated transactions. Purchases are made subject to market conditions and certain volume, pricing and timing restrictions to minimize the impact of the purchases upon the market, and when the Company believes its stock price to be undervalued. Repurchased shares of common stock became authorized but unissued shares, and may be issued in the future for general corporate and other purposes. During the year ended December 31, 2014, the Company purchased 205,457 shares at an average price of $35.89 per share, for a total of approximately $7.4 million. No shares were purchased during the year s ended December 31, 201 5 and 2013 . As of December 31, 2015 , the Company had $ 31.8 million available under the share repurchase program for future purchases. In October 2014, the Company amended its revolving credit facility with Royal Bank of Canada to, among other things, allow for share repurchases subject to certain conditions. The Company is currently in compliance with these conditions .

Other Financial Information

Other Financial Information	12 Months Ended
	Dec. 31, 2015
Other Financial Information [Abstract]
Other Financial Information	10. Other Financial Information The following table provides additional detail for accounts receivable, prepaids, and accounts payable and accrued liabilities which are presented on the consolidated balance sheets (in thousands): December 31, December 31, 2015 2014 Accounts receivable: Trade receivables $ 7,530 $ 13,926 Receivable for Alta Resources distribution 1,993 1,993 Joint interest billings 7,366 4,096 Income taxes receivable 2,868 3,274 Other receivables 1,448 2,610 Allowance for doubtful accounts (701) (590) Total accounts receivable $ 20,504 $ 25,309 Prepaid expenses and other: Prepaid insurance $ 900 $ 1,242 Other 328 699 Total prepaid expenses and other $ 1,228 $ 1,941 Accounts payable and accrued liabilities: Royalties and revenue payable $ 17,906 $ 31,653 Accrued exploration and development 3,659 26,538 Trade payables 8,053 17,282 Advances from partners 950 8,334 Accrued general and administrative expenses 2,596 6,258 Other accounts payable and accrued liabilities 3,194 2,827 Total accounts payable and accrued liabilities $ 36,358 $ 92,892 Included in the table below is supplemental information about non-cash transactions during the years ended December 31, 201 5 , 201 4 and 201 3 , in thousands: Year Ended December 31, 2015 2014 2013 Cash payments: Interest payments $ 3,147 $ 2,786 $ 1,056 Income tax payments (refunds), net of cash refunds (180) 241 341 Non-cash items excluded from investing activities in the consolidated statements of cash flows: Increase (decrease) in accrued capital expenditures (22,879) 8,735 7,004 Assets acquired & liabilities assumed in the Merger: Accounts receivable — — 12,955 Prepaids — — 639 Proved natural gas and oil properties — 2,517 413,916 Deferred tax asset and other — — 24,940 Accounts payable and accrued liabilities — — (60,110) Other non-current liabilities — — (256) Long-term debt — — (235,373) Asset retirement obligations — (2,517) (11,183) Non-cash items excluded from financing activities in the consolidated statements of cash flows: Issuance of common stock in connection with the merger — — 145,870

Investment In Exaro Energy III

Investment In Exaro Energy III LLC	12 Months Ended
	Dec. 31, 2015
Investment In Exaro Energy III LLC [Abstract]
Investment In Exaro Energy III LLC	11. Investment in Exaro Energy III LLC In April 2012, the Company entered into a Limited Liability Company Agreement (the “LLC Agreement”) in connection with the formation of Exaro. Pursuant to the LLC Agreement, as amended, the Company has committed to invest up to $ 67.5 million in Exaro for an ownership interest of approximately 37 %. The aggregate commitment of all the Exaro investors was approximately $ 183 million. The Company did not make any contributions during the year ended December 31, 201 5 . As of December 31, 201 5 , the Company had invested approximately $ 46.9 million . The following table presents condensed balance sheet data for Exaro as of December 31, 201 5 and December 31, 201 4 . The balance sheet data was derived from the Exaro balance sheet as of December 31, 201 5 and December 31, 201 4 and was not adjusted to represent Contango’s percentage of ownership interest in Exaro. Contango’s share in the equity of Exaro at December 31, 201 5 was approximately $ 14.1 million. December 31, December 31, 2015 2014 (in thousands) Current assets (1) $ 23,664 $ 35,013 Non-current assets: Net property and equipment 101,459 233,997 Restricted cash escrow account — 577 Other non-current assets 486 1,779 Total non-current assets 101,945 236,353 Total assets $ 125,609 $ 271,366 Current liabilities $ 5,272 $ 9,405 Non-current liabilities: Long-term debt 78,500 94,500 Other non-current liabilities 2,891 1,084 Total non-current liabilities 81,391 95,584 Members' equity 38,946 166,377 Total liabilities & members' equity $ 125,609 $ 271,366 (1) Approximately $14.4 million of current assets as of December 31, 2015, is cash. The following table presents the condensed results of operations for Exaro for the years ended December 31, 201 5, 201 4 and 2013 . The results of operations for the years ended December 31, 201 5, 201 4 and 2013 were derived from Exaro's financial statements for the respective periods. The income statement data below was not adjusted to represent Contango’s ownership interest but rather reflects the result s of Exaro as a Company. The Com pany's share in Exaro's results of operations recognized for the years ended December 31, 201 5 , 201 4 and 201 3 was a loss of $ 30.6 million, net of tax benefit of $ 16.5 million; a gain of $ 6.9 million, net of tax expense of $ 3.8 million; and a gain of $ 2.3 million , net of tax expense of $ 1.2 million , respectively. Year Ended December 31, 2015 2014 2013 ($ in thousands) Production: Oil (MBbls) 166 170 129 Gas (MMcf) 13,059 13,355 9,731 Total (Mmcfe) 14,055 14,375 10,506 Oil and natural gas sales $ 40,474 $ 79,536 $ 52,698 Other gain (loss) 6,358 5,069 (544) Less: Lease operating expenses 20,922 22,452 16,136 Depreciation, depletion, amortization & accretion 29,417 26,036 16,058 Impairment expense 118,000 — — General & administrative expense 3,255 3,484 3,294 Income (loss) from continuing operations (124,762) 32,633 16,666 Net interest expense (2,910) (3,861) (3,536) Net income (loss) $ (127,672) $ 28,772 $ 13,130 Included in Other gain ( loss ) are realized and unrealized losses attributable to derivatives, whose value is likely to change based on future oil and gas prices. Exaro's results of operations do not include income taxes, because Exaro is treated as a partnership for tax purposes.

Asset Retirement Obligation

Asset Retirement Obligation	12 Months Ended
	Dec. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation	12. Asset Retirement Obligation The Company accounts for its retirement obligation of long lived assets by recording the net present value of a liability for an asset retirement obligation (“ARO”) in the period in which it is incurred. When the liability is initially recorded, a company increases the carrying amount of the related long-lived asset. Over time, the liability is accreted to its present value each period, and the capitalized cost is depreciated over the useful life of the related asset. Upon settlement of the liability, an entity either settles the obligation for its recorded amount or incurs a gain or loss upon settlement. Activities related to the Company’s ARO during the year ended December 31, 201 5 and 201 4 were as follows (in thousands): Year ended December 31, 2015 2014 Balance as of the beginning of the period $ 25,746 $ 23,334 Liabilities incurred during period 349 3,123 Liabilities settled during period (254) (1,963) Accretion 1,219 1,303 Sales — (69) Change in estimate 167 18 Other adjustments (118) — Balance as of the end of the period $ 27,109 $ 25,746 All of the total liabilities incurred during the year ended December 31, 2015 were related to new wells drilled during the period. All of the total liabilities settled during the year ended December 31, 2015, related to wells plugged and abandoned during the period. Of the total liabilities incurred during the year ended December 31, 2014, $2.5 million was due to a purchase price adjustment for the merger with Crimson and $ 0.6 million related to new wells drilled during the period. All of the total liabilities settled during the year ended December 31, 2014 related to wells plugged and abandoned during the period.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2015
Long-Term Debt [Abstract]
Long-Term Debt	13. Long-Term Debt RBC Credit Facility In connection with the Merger during 2013 , the Company assumed and immediately repaid $235.4 million of Crimson debt, including Crimson’s $175.0 million second lien term loan with Barclays and other lenders, Crimson’s $58.6 million balance under its senior secured revolving credit facility with Wells Fargo Bank and other lenders, and a $1.8 million prepayment premium for the second lien term loan and accrued interest. Of the amount repaid, $127.6 million was made from existing cash with the remainder financed through new borrowing arrangements. In order to finance the retirement of the assumed debt, the Company entered into a $500 million four -year secured revolving credit facility with Royal Bank of Canada and other lenders on October 1, 2013, with an initial hydrocarbon-supported borrowing base of $275 million. As part of the regular redetermination schedule, the Company’s bank group redetermined the Company’s borrowing base at $225 million effective May 8, 2015, and $190 million effective November 13, 2015, primarily to reflect lower commodity prices and the impact of the significant reduction in the Company’s drilling program in 2015 because of the low price environment. The borrowing base under the f acility is redetermined each November 1 and May 1. Since the last regularly scheduled redetermination of our borrowing base, effective through May 1, 2016, commodity prices have continued to decline. The decline in prices will likely negatively impact the price decks utilized by banks in their calculation of the Company’s borrowing base at May 1, 2016. If our next borrowing base redetermination results in a lower borrowing base, we may be unable to obtain financing otherwise currently available under the RBC Credit Facility. The Company incurred $2.2 million of arrangement and upfront fees in connection with the f acility which will be amortized over the original four-year term of the f acility. Proceeds of the RBC Credit Facility were, or may be used (i) to finance working capital and for general corporate purposes, (ii) for permitted acquisitions, and (iii) to finance transaction expenses in connection with the facility and the Merger. As of December 31, 201 5 , the Company had $115.4 million outstanding under the RBC Credit Facility, which matures on October 1, 2017, and $1.9 million in outstanding letters of credit. As of December 31, 201 4 , the Company had $63.4 million outstanding under the RBC Credit Facility and $1.9 million in outstanding letters of credit. As of December 31, 201 5, borrowing availability under the RBC Credit Facility was $72.7 million. The RBC Credit Facility is collateralized by a lien on substantially all the producing assets of the Company and its subsidiaries, including a security interest in the stock of Contango’s subsidiaries and a lien on the Company’s oil and gas properties. Borrowings under the RBC Credit Facility bear interest at LIBOR, the U.S. prime rate, or the federal funds rate, plus a 0.5% to 2.5% margin , dependent upon the amount outstanding. Additionally, the Company must pay a commitment fee on the amount of the facility that remains unused, which varies from .375% to .5% , depending on the amount of the credit facility that is unused. Total interest expense under the RBC Credit Facility, including commitment fees, for the years ended December 31, 201 5, 201 4 and 2013 was approximately $3.2 million, $2.7 million and $1.2 million , respectively. The RBC Credit Facility contains restrictive covenants which, among other things, restrict the declaration or payment of dividends by Contango and require a Current Ratio of greater than or equal to 1.0 and a Leverage Ratio of less than or equal to 3.50, both as defined in the RBC Credit Facility Agreement . As of December 31, 201 5 , the Company was in compliance with all covenant s under the RBC Credit Facility, and at current commodity prices, we do not expect any covenant compliance issues over the next twelve months. The RBC Credit Facility also contains events of default that may accelerate repayment of any borrowings and/or termination of the facility. Events of default include, but are not limited to, payment defaults, breach of certain covenants, bankruptcy, insolvency or change of control events. Amegy Bank Credit Facility The RBC Credit Facility replaced the Company's $40 million credit facility with Amegy Bank. On October 22, 2010, the Company completed the arrangement of a secured revolving credit agreement with Amegy Bank (the “Amegy Credit Agreement”). Upon termination of the Amegy Credit Agreement, the Company was in compliance with all covenants and had no amounts outstanding. No early termination penalty was incurred as a result of the termination of the Amegy Credit Agreement. Interest expense under the Ameg y Credit Agreement for the year ended December 31, 2013 was approximately $37,000 .

Commitments And Contingencies

Commitments And Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments And Contingencies[Abstract]
Commitments And Contingencies	14. Commitments and Contingencies Contango pays delay rentals on its offshore leases and leases its office space and certain other equipment. Effective October 1, 2013, the Company moved its corporate offices to 717 Texas Avenue in downtown Houston, Texas, under a lease that expires March 31, 2019. The Company remains responsible for the rent at its previous corporate office at 3700 Buffalo Speedway in Houston, Texas, through February 29, 2016; however, effective January 1, 2014, it subleased the previous corporate offices through February 29, 2016 and expects to recover the substantial majority of the rent it pays at that location. As of December 31, 201 5 , minimum future lease payments for delay rentals and operating leases for Contango’s fiscal years are as follows (in thousands): Fiscal years ending December 31, 2016 $ 3,641 2017 2,154 2018 1,828 2019 519 2020 103 2021 and thereafter 209 Total $ 8,454 The amount s incurred under operating leases and delay rentals during the years ended December 31, 201 5 , 201 4 , and 201 3 were approximately $ 6.3 million, $ 6.0 million and $ 1.0 million, respectively. As of December 31, 201 5 , the Company’s commitment for potential future equity contributions with Exaro Energy III, LLC to develop onshore natural gas assets, was $20.6 million . Legal Proceedings From time to time, the Company is involved in legal proceedings relating to claims associated with its properties, operations or business or arising from disputes with vendors in the normal course of business, including the material matters discussed below. In July 2010, several parties associated with a limited partnership formed to invest in oil and gas properties that was dissolved in 1995 filed suit against a subsidiary of the Company and several co-defendants in district court for Madison County in Texas. The plaintiffs claim to own or have rights in certain oil and gas properties situated in Madison County, Texas by virtue of the partnership having interests in addition to those it held of record at the time of its dissolution, which were distributed to the partners in connection with such dissolution. A predecessor of the subsidiary of the Company involved in this case acquired a portion of the interests now claimed by the plaintiffs from a successor to the general partner of the aforementioned partnership in 2000. The plaintiffs’ expert has recently provided a range of estimated monetary damages of up to approximately $9.4 million as to our Subsidiary. The Company is vigorously defending this lawsuit and believes that it has meritorious defenses. In November 2010, a subsidiary of the Company, several predecessor operators and several product purchasers were named in a lawsuit filed in the District Court for Lavaca County in Texas by an entity alleging that it owns a working interest in two wells that has not been recognized by us or by predecessor operators to which the Company had granted indemnification rights. In dispute is whether ownership rights were transferred through a number of decade-old poorly documented transactions. Based on summary judgment, in late 2014 the trial court entered a final judgment in the case in favor of the plaintiffs for approximately $5.3 million, plus post-judgment interest. The Company is vigorously defending this lawsuit, believes that it has meritorious defenses and is appealing the trial court’s decision to the applicable state Court of Appeals. In September 2012, a subsidiary of the Company was named as defendant in a lawsuit filed in district court for Harris County in Texas involving a title dispute over a 1/16th mineral interest in the producing intervals of certain wells operated by us in the Catherine Henderson “A” Unit in Liberty County in Texas. This case was subsequently transferred to the district court for Liberty County, Texas and combined with a suit filed by other parties against the plaintiff claiming ownership of the disputed interest. The plaintiff has alleged that, based on its interpretation of a series of 1972 deeds, it owns an additional 1/16th unleased mineral interest in the producing intervals of these wells on which it has not been paid (this claimed interest is in addition to a 1/16th unleased mineral interest on which it has been paid). The Company has made royalty payments with respect to the disputed interest in reliance, in part, upon leases obtained from successors to the grantors under the aforementioned deeds, who claim to have retained the disputed mineral interests thereunder. The plaintiff previously alleged damages of approximately $10.7 million although the plaintiff’s claim increases as additional hydrocarbons are produced from the subject wells. The trial court entered judgment in favor of the Company’s subsidiary and the successors to the grantors under the aforementioned deeds and the plaintiff has appealed the trial court’s decision to the applicable state Court of Appeals. The Company is vigorously defending this lawsuit and believes that it has meritorious defenses. The Company believes if this matter were to be determined adversely, amounts owed to the plaintiff could be partially offset by recoupment rights the Company may have against other working interest and/or royalty interest owners in the unit. Mineral interest owners in South Louisiana filed suit against a subsidiary of the Company and several co-defendants in April 2013 in the 31st Judicial District Court situated in Jefferson Davis Parish, Louisiana alleging failure to act as a reasonably prudent operator, failure to explore, waste, breach of contract, etc. in connection with two wells located in Jefferson Davis Parish. Many of the alleged improprieties occurred prior to the Company’s ownership of an interest in the wells at issue, although the Company may have assumed liability otherwise attributable to its predecessors-in-interest through the acquisition documents relating to the acquisition of the Company’s interest in these wells. This case is based on the same actions and allegations as a prior case in which the Company and its co-defendants prevailed. The plaintiffs claim damages of approximately $2.5 million against a subsidiary of the Company and its co-defendants. The Company and its co-defendants are vigorously defending this lawsuit and believe that they have a meritorious position. While many of these matters involve inherent uncertainty and the Company is unable at the date of this filing to estimate an amount of possible loss with respect to certain of these matters, the Company believes that the amount of the liability, if any, ultimately incurred with respect to these proceedings or claims will not have a material adverse effect on its consolidated financial position as a whole or on its liquidity, capital resources or future annual results of operations. The Company maintains various insurance policies that may provide coverage when certain types of legal proceedings are determined adversely . Employment Agreements As a result of successfully completing the Merger, Mr. Joseph J. Romano, the Company's Chairman and former Chief Executive Officer received a $4.0 million bonus payment in July 2014. Also i n connection with the Merger, Contango entered into employment agreements with each of Allan D. Keel, E. Joseph Grady, A. Carl Isaac, Jay S. Mengle and Thomas H. Atkins, all of which became effective on October 1, 2013. The employment agreements provide for a n initial term of three years with automatic two -year extensions of the initial term, unless Contango or the executive provides prior notice of intention not to extend the agreement. Under the employment agreements, Mr. Keel is entitled to a base salary of $600,000 , Mr. Grady is entitled to a base salary of $400,000 , Mr. Isaac is entitled to a base salary of $320,000 , Mr. Mengle is entitled to a base salary of $300,000 and Mr. Atkins is entitled to a base salary of $310,000 . The aforementioned executives entered into a Limited Waiver on or about September 1, 2015 to participate in a salary replacement program (the “Salary Replacement Program”) effective September 1, 2015 and expected to continue through December 31, 2016. The Salary Replacement Program reduces all office employees’ base salary by 10% and all board of director retainer and committee chairman fees by 10% and replaces annually the portion of the salary/fees being reduced with common stock in a number of shares commensurate with the salary/fees reduction amount. While the executives are participating in the Salary Replacement Program, Mr. Keel is entitled to a cash base salary of $540,000 , Mr. Grady is entitled to a cash base salary of $360,000 , Mr. Isaac is entitled to a cash base salary of $288,000 , Mr. Mengle is entitled to a cash base salary of $270,000 and Mr. Atkins is entitled to a cash base salary of $279,000 . Per the employee agreements, e ach executive shall participate in the CIBP and the LTIP. With respect to the CIBP, these employee agreements provide that the executives are eligible to receive a cash bonus based upon minimum, target and maximum award levels of 50% , 100% and 150% for Mr. Keel; 50% , 90% and 130% for Mr. Grady; and 50% , 80% and 120% for Messrs. Isaac, Mengle and Atkins, respectively, of such executive’s base salary effective prior to the executive’s participation in the Salary Replacement Program . With respect to the LTIP, these employee agreements provide that the executives are eligible to receive stock option awards, restricted stock awards or a combination of both based upon minimum, target and maximum award levels of 75% , 350% and 450% for Mr. Keel; 75% , 250% and 450% for Mr. Grady; and 75% , 250% and 350% for Messrs. Isaac, Mengle and Atkins, respectively, of such executive’s base salary effective prior to the executive’s participation in the Salary Replacement Program. Actual awards for executives under the CIBP and the LTIP are subject to attainment of pre-determined corporate and personal goals for minimum, target or maximum levels of performance as determined by the board of directors for the performance period. Performance levels below the minimum threshold in any performance metric result in forfeiture of that portion of the CIBP and/or LTIP award, unless otherwise determined by the board of directors.

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	15. Net Income (Loss) Per Common Share A reconciliation of the components of basic and diluted net income per common share for the years ended December 31, 2015, 2014 and 2013 is presented below (in thousands): Year Ended December 31, 2015 Net Loss Shares Per Share Basic Earnings per Share: Net loss attributable to common stock $ (335,048) 18,965 $ (17.67) Diluted Earnings per Share: Effect of potential dilutive securities: Stock options, weighted average of incremental shares — — — Net loss attributable to common stock $ (335,048) 18,965 $ (17.67) Year Ended December 31, 2014 Net Loss Shares Per Share Basic Earnings per Share: Net loss attributable to common stock $ (21,874) 19,059 $ (1.15) Diluted Earnings per Share: Effect of potential dilutive securities: Stock options, weighted average of incremental shares — — — Net loss attributable to common stock $ (21,874) 19,059 $ (1.15) Year Ended December 31, 2013 Net Income Shares Per Share Basic Earnings per Share: Net income attributable to common stock $ 41,362 16,156 $ 2.56 Diluted Earnings per Share: Effect of potential dilutive securities: Stock options, weighted average of incremental shares — 2 — Net income attributable to common stock $ 41,362 16,158 $ 2.56 The numerator for basic earnings per share is net income (loss) attributable to common stockholders. The numerator for diluted earnings per share is net income unless there is a loss and then is (loss) available to common stockholders, due to antidilution. Potential dilutive securities (stock options, stock warrants and convertible preferred stock) have not been considered when their effect would be antidilutive. The potentially dilutive shares, including both stock options and restricted shares, would have been 453,626 shares for the year ended December 31, 2015. The potentially dilutive shares, including both stock options and restricted shares, would have been 339,896 shares for the year ended December 31, 2014. The potentially dilutive shares, including both stock options and restricted stock, would have been 187,302 shares for the year ended December 31, 2013.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Income Taxes	16. Income Taxes Actual income tax expense differs from income tax expense computed by applying the U.S. federal statutory corporate rate of 35 percent to pretax income as follows (dollars in thousands): Year Ended December 31, 2015 2014 2013 Provision/(benefit) at statutory tax rate $ (148,925) 35.00 % $ (11,920) 35.00 % $ 23,011 35.00 % State income tax provision, net of federal benefit (116) 0.03 % 1,028 (3.00) % 2,928 4.45 % Permanent differences 30 (0.01) % 202 (0.60) % (1,559) (2.37) % State depletion deductions — — % (1,723) 5.10 % — — % Valuation allowance 55,310 (13.00) % — — % — — % Other 2,008 (0.47) % 230 (0.70) % 4 0.01 % Income tax provision /(benefit) $ (91,693) 21.55 % $ (12,183) 35.80 % $ 24,384 37.09 % The effective tax rate for December 31, 2015 varies from the statutory rate primarily as a result of recording a valuation allowance. The effective tax rate for December 31, 2014 varies from the statutory rate primarily due to the effect of state income tax expenses. The provision (benefit) for income taxes for the periods indicated are comprised of the following (in thousands): Year Ended December 31, 2015 2014 2013 Current tax provision (benefit): Federal $ — $ (392) $ 8,739 State 636 478 3,857 Total $ 636 $ 86 $ 12,596 Deferred tax provision (benefit): Federal $ (92,329) $ (11,518) $ 11,361 State — (751) 427 Total $ (92,329) $ (12,269) $ 11,788 Total tax provision (benefit): Federal $ (92,329) $ (11,910) $ 20,100 State 636 (273) 4,284 Total $ (91,693) $ (12,183) $ 24,384 Included in gain (loss) from investment in affiliates $ (16,467) $ 3,727 $ 1,245 Total income tax provision (benefit) $ (75,226) $ (15,910) $ 23,139 The net deferred tax liability is comprised of the following (in thousands): December 31, 2015 2014 Deferred tax assets: Net operating loss carryforward $ 49,249 $ 39,085 Income tax credits 1,010 661 Derivative instruments — 165 Deferred compensation 498 465 Oil and gas properties 12,941 — Other 1,007 1,953 Total deferred tax assets before valuation allowance $ 64,705 $ 42,329 Valuation allowance (57,471) (2,161) Net deferred tax assets $ 7,234 $ 40,168 Deferred tax liability: Oil and gas properties $ — $ (104,209) Investment in affiliates (7,234) (28,287) Other — — Deferred tax liability $ (7,234) $ (132,496) Total net deferred tax liability $ — $ (92,328) In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based upon the amount of deferred tax liabilities, level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, the Company believes it is less-than-more-likely-than-not that it will realize the benefits of these deductible differences and has recorded a valuation allowance of $57 .5 million. As of December 31, 2015, the Company had federal net operating loss (“NOL”) carryforwards of approximately $140.4 million and state NOLs of $12.0 million. The federal NOL carryforwards reported as of December 31, 2014 were acquired in the 2013 merger with Crimson. A valuation allowance was recorded at the time of the Merger to reflect the impact of Internal Revenue Code Section 382 limitations on the use of the federal NOLs acquired. The federal NOL carryforwards expire at various dates beginning in 2018 and ending in 2035. ASC 740, Income Taxes ("ASC 740") prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of income tax positions taken or expected to be taken in an income tax return. For those benefits to be recognized, an income tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. As a result of the Merger, the Company acquired certain tax positions taken by Crimson in prior years. These positions are not expected to have a material impact on results of operations, financial position or cash flows. A reconciliation of the beginning and ending amount of unrecognized income tax benefits is as follows (in thousands): Unrecognized Tax Benefits Balance at December 31, 2014 $ 518 Additions based on tax positions related to the current year — Additions based on tax positions related to prior years — Additions due to acquisitions — Reductions due to a lapse of the applicable statute of limitations (158) Balance at December 31, 2015 $ 360 The Company's policy is to recognize interest and penalties related to uncertain tax positions as income tax benefit (expense) in the Company’s Consolidated Statements of Operations. The Company had no interest or penalties related to unrecognized tax benefits for the year ended December 31, 2015 or any prior years. The total amount of unrecognized tax benefit if recognized that would affect the effective tax rate was zero . The Company's tax returns are subject to periodic audits by the various jurisdictions in which the Company operates. These audits can result in adjustments of taxes due or adjustments of the NOL carryforwards that are available to offset future taxable income. The Company does not anticipate that the total unrecognized tax benefits will significantly change due to the settlement of audits and the expiration of statute of limitations prior to December 31, 2015. Generally, the Company's income tax years of 1998 through the current year remain open and subject to examination by Federal tax authorities, and the tax years of 2009 through current remain open and subject to examination by the tax authorities in Texas and Louisiana which are the jurisdictions where the Company carries its principal operations.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	17. Related Party Transactions Juneau Exploration L.P. In April 2012, the Company announced that Mr. Brad Juneau, the sole manager of the general partner of Juneau Exploration L.P. (“ JEX”), had joined the Company’s board of directors. In January 2013, Contaro Company, a wholly-owned subsidiary of the Company, entered into an advisory agreement with JEX (the "Contaro Advisory Agreement"). Under the Contaro Advisory Agreement, JEX provided advisory services to Contaro in connection with Contaro's investment in Exaro, and Mr. Juneau served on the Board of Managers of Exaro and performed such duties as described in the limited liability company operating agreement of Exaro. Pursuant to the Contaro Advisory Agreement, JEX was paid a monthly fee of $10,000 and was entitled to receive a one percent (1%) fee of the cash profit earned by Contaro. On March 19, 2014, Mr. Juneau resigned from the Company’s board of directors and no longer provides services under the Contaro Advisory Agreement. As a result, the Contaro Advisory Agreement was terminated effective as of March 19, 2014. Olympic Energy Partners Mr. Joseph J. Romano was elected President and Chief Executive Officer of the Company in December 2012, and named Chairman of the Company in April 2013. Upon the Merger with Crimson on October 1, 2013, Mr. Romano resigned as President and Chief Executive Officer, but continued as Chairman. Mr. Romano is also the President and Chief Executive Officer of Olympic Energy Partners LLC ("Olympic"). JEX, affiliates of JEX, and Olympic have historically participated with the Company in the drilling and development of certain prospects through participation agreements and joint operating agreements, which specify each participant’s working interest ("WI"), net revenue interest ("NRI"), and describe when such interests are earned, as well as allocate an overriding royalty interest ("ORRI") of up to 3.33% to benefit the employees of JEX, excluding Mr. Juneau, except where otherwise noted. Olympic last participated with the Company in the drilling of wells in March 2010, and its ownership in Company-operated wells is limited to its Dutch and Mary Rose wells. Republic Exploration LLC In his capacity as sole manager of the general partner of JEX, Mr. Juneau also controlled the activities of Republic Exploration LLC ("REX"), an entity owned 34.4% by JEX, 32.3% by Contango, and 33.3% by a third party which contributed other assets to REX. REX generated and evaluated offshore exploration prospects and historically participated with the Company in the drilling and development of certain prospects through participation agreements and joint operating agreements, which specify each participant’s working interest, net revenue interest, and describe when such interests are earned, as well as allocate an overriding royalty interest of up to 3.33% to benefit the employees of JEX. The Company proportionately consolidates the results of REX in its consolidated financial statements. Effective as of the close of business on December 31, 2015, the Company, and the other members of REX agreed to dissolve and liquidate REX. REX’s assets are being distributed proportionately to its members. As of December 31, 2015, Contango, Olympic, JEX, REX and JEX employees owned the following interests in the Company's offshore wells. Olympic JEX REX JEX Employees WI NRI WI NRI WI NRI ORRI Dutch #1 - #5 3.53% 2.84% 1.88% 1.51% —% —% 2.02% Mary Rose #1 3.61% 2.70% 2.01% 1.51% —% —% 2.79% Mary Rose #2 - #3 3.61% 2.58% 2.01% 1.44% —% —% 2.79% Mary Rose #4 2.34% 1.70% 1.31% 0.95% —% —% 1.82% Mary Rose #5 2.56% 1.87% 1.43% 1.04% —% —% 1.82% Ship Shoal 263 —% —% —% —% —% —% 3.33% Vermilion 170 —% —% 4.30% 3.35% 12.50% 9.74% 3.33% Prior to December 2013, Contango, Olympic, and JEX had the following lower WI and NRI in Dutch #1-#5, as a result of exercising a preferential right in December 2013: Olympic JEX WI NRI WI NRI Dutch #1 - #5 3.02% 2.42% 1.61% 1.29% During the year ended December 31, 2015, Mr. Romano earned $79 thousand for his service as a director of the Company. During the year ended December 31, 2014, Mr. Romano earned $105 thousand for his service as a director of the Company. In April 2014, the board of directors accelerated the vesting of Mr. Juneau’s 1,622 shares which would have otherwise been forfeited upon his resignation in March 2014. The Company recognized compensation expense of approximately $71 thousand related to the shares granted to Mr. Juneau for the three months ended March 31, 2014. Additionally, during the years ended December 31, 2015 and 2014, Mr. Romano received 4,534 and 2,612 shares of restricted stock, respectively, which both vest 100% on the one -year anniversary of the date of grant, as part of his board of director compensation. The Company recognized compensation expense of $99 thousand and $124 thousand related to shares granted to Mr. Romano during the years ended December 31, 2015 and 2014, respectively. Below is a summary of transactions between the Company, Olympic, JEX, and REX during the years ended December 31, 2015, 2014 and 2013. · In June 2012, the Company purchased five federal lease blocks that were generated by REX. In connection with the dissolution and liquidation of REX, all participation agreements for these blocks that discussed carried interest arrangements, prospect fee payments, etc. are being terminated effective as of the date of the dissolution. · In June 2012, the Company purchased one federal lease block that was generated by REX. The Company paid JEX a prospect fee of $250,000 in December 2013 upon spudding this unsuccessful prospect. · In March 2013, the Company purchased three federal lease blocks that were generated by REX. In connection with the dissolution and liquidation of REX, all participation agreements for these blocks that discussed carried interest arrangements, prospect fee payments, etc. are being terminated effective as of the date of the dissolution. The Company paid JEX two prospect fees of $250,000 each in 2013, for evaluating these two prospects located on three leases. · In June 2013, the Company purchased South Timbalier 17 from an independent oil and gas company. Under the terms of the applicable participation agreement, the Company has a 75% working interest in this well, with several other owners owning the remainder. The Company paid JEX a prospect fee of $250,000 for evaluating this prospect. · In the Tuscaloosa Marine Shale the Company has a 100% working interest through first production. JEX will receive a carried working interest of 10% in certain of the Company’s TMS wells, and JEX employees will receive an ORRI of 2% , of which Mr. Juneau receives 0.75% , to reimburse Mr. Juneau for out-of-pocket costs incurred in order for Contango to participate in the prospect. An additional 2% ORRI was granted to the geologist who generated the TMS prospect for us. The geologist has subsequently been employed by Contango. · Effective January 1, 2014, the Company subleased to JEX a portion of its previous office space at 3700 Buffalo Speedway, Houston, Texas for approximately $0.1 million per year, which approximates its rental liability for that space. The sublease expires in February 2016. Below is a summary of payments the Company received from (paid to) Olympic, JEX, and REX in the ordinary course of business in its capacity as operator of the wells and platforms for the periods indicated. The Company made and received similar types of payments with other well owners (in thousands): Year ended December 31, 2015 2014 2013 Olympic JEX REX Olympic JEX REX Olympic JEX REX Revenue payments as well owners $ (4,115) $ (2,639) $ (1,077) $ (7,349) $ (4,882) $ (2,270) $ (6,859) $ (4,628) $ (1,932) Joint interest billing receipts 531 386 1,246 673 521 322 945 1,201 2,090 Below is a summary of payments the Company received from (paid to) Olympic, JEX and REX as a result of specific transactions between the Company, Olympic, JEX and REX. While these payments are in the ordinary course of business, the Company did not have similar transactions with other well owners (in thousands): Year ended December 31, 2015 2014 2013 Olympic JEX REX Olympic JEX REX Olympic JEX REX Reimbursement of certain costs $ — $ — $ — $ (54) $ (29) $ — $ — $ (115) $ (4) Rent received for sublease — 119 — — 142 — — — — Prospect fees — — — — — — — (1,000) — Advisory Agreements — — — — — — — (361) — REX distribution to members — — — — — — — — (197) As of December 31, 2015 and 2014, the Company's consolidated balance sheets reflected the following balances (in thousands): December 31, 2015 December 31, 2014 Olympic JEX REX Olympic JEX REX Accounts receivable: Joint interest billing 26 25 27 48 42 12 Accounts payable: Royalties and revenue payable (451) (279) (83) (1,006) (620) (175) Oaktree Capital Management L.P. Oaktree Capital Management L.P. ("Oaktree"), through various funds, owns approximately 6.6% of the Company's stock. On October 1, 2013 following the closing of the Merger, Mr. James Ford, a Managing Director and Portfolio Manager within Oaktree at the time, was elected to the Company's board of directors. Mr. Ford was previously a member of Crimson's board of directors from February 2005 until the closing of the Merger. As part of Mr. Ford's director compensation, all cash and equity awards payable to Mr. Ford, have been instead granted to an affiliate of Oaktree. During the year ended December 31, 2015, an affiliate of Oaktree earned $61 thousand in cash and 4,534 shares of restricted common stock as a result of Mr. Ford's board participation. During the year ended December 31, 2014, an affiliate of Oaktree earned $64 thousand in cash and 2,612 shares of restricted common stock as a result of Mr. Ford’s board participation. These shares vest one year from the date of grant. During the years ended December 31, 2015 and 2014, the Company recognized compensation expense of approximately $99 thousand and $124 thousand, respectively, related to the shares of restricted stock previously granted to an affiliate of Oaktree under the Director Compensation Plan Prior to the Merger, Crimson maintained a second lien credit agreement with Barclays Bank Plc, as agent, and other parties, including an affiliate of Oaktree, which was Crimson's largest stockholder at the time (the “Second Lien Credit Agreement”). The Second Lien Credit Agreement provided for a term loan, made to Crimson in a single draw, in an aggregate principal amount of $175.0 million. In connection with the Merger, the Company assumed and immediately repaid Crimson’s $175.0 million loan under the Second Lien Credit Agreement, plus $1.8 million in interest and prepayment premiums.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events The Company has evaluated subsequent events through the date the financial statements were available to be issued. Nothing that would require recognition or disclosure in the financial statements was identified in addition to the items disclosed in the financial statements.

Summary Of Significant Accoun25

Summary Of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Summary Of Significant Accounting Policies [Abstract]
Basis Of Presentation	Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and include the accounts of Contango Oil & Gas Company and its subsidiaries, after elimination of all material intercompany balances and transactions. All wholly-owned subsidiaries are consolidated. Oil and gas exploration and development affiliates which are not controlled by the Company, such as Republic Exploration LLC (“REX”), are proportionately consolidated. Financial statements as of December 31, 2015 and 2014 and for the three years ended December 31, 2015 contained herein, include consolidated results of operations of both Contango Oil & Gas Company and Crimson for the period from the closing date of the Merger to December 31, 2015 and only consolidated financial statements of Contango for all other the periods presented herein.
Other Investments, cost method	Contango’s 21.9% ownership of Moblize Inc. (“Moblize”) and 2.0% indirect ownership of Alta Energy Canada Partnership, LLC ("Alta") are accounted for using the cost method, as the Company does not exercise significant influence over either company. Under the cost method, Contango records an investment at cost, and recognizes dividends or distributions received as income. Dividends received in excess of earnings subsequent to the date of investment are considered a return of investment and are recorded as reductions of cost of the investment. During the year ended December 31, 2013, the Company had a significant distribution from Alta in excess of its original investment. The gain in excess of the original investment is included in the Other income line item in the Company's statement of operations and in the investing cash flows in the Company's statement of cash flow for the year ended December 31, 2013.
Other Investments, equity method	The Company has two seats on the board of directors of Exaro and has significant influence, but not control, over the company. As a result, the Company's 37% ownership in Exaro is accounted for using the equity method. Under the equity method, the Company's proportionate share of Exaro's net income increases the balance of its investment in Exaro, while a net loss or payment of dividends decreases its investment. In the consolidated statement of operations, the Company’s proportionate share of Exaro's net income or loss is reported as a single line-item in Gain (loss) from investment in affiliates (net of income taxes).
Use Of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The most significant estimates include oil and gas revenues, income taxes, stock-based compensation, reserve estimates, impairment of natural gas and oil properties, valuation of derivatives, and accrued liabilities. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition Revenues from the sale of natural gas and oil produced are recognized upon the passage of title, net of royalties. Revenues from natural gas production are recorded using the sales method. When sales volumes exceed the Company’s entitled share, production imbalance occurs. If production imbalance exceeds the Company’s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. As of December 31, 2015 , 2014 and 2013, the Company had no significant imbalances.
Cash Equivalents	Cash Equivalents Cash equivalents are considered to be highly liquid investment grade debt investments having an original maturity of 90 days or less. As of December 31, 2015 , the Company had no cash and cash equivalents, as cash balances at the end of each day are transferred to reduce outstanding debt under our revolving credit facility to minimize debt service costs. Under the Company’s cash management system, checks issued but not yet presented to banks by the payee frequently result in book overdraft balances for accounting purposes and are classified in accounts payable in the consolidated balance sheets. At December 31, 2015, accounts payable included $6.8 million representing outstanding checks that had not been presented for payment net of cash balance in the bank as of December 31, 2015. At December 31, 2014, accounts payable included $12.1 million representing outstanding checks that had not been presented for payment net of cash balance in the bank as of December 31, 2014.
Accounts Receivable	Accounts Receivable The Company sells natural gas and crude oil to a limited number of customers. In addition, the Company participates with other parties in the operation of natural gas and crude oil wells. Substantially all of the Company’s accounts receivables are due from either purchasers of natural gas and crude oil or participants in natural gas and crude oil wells for which the Company serves as the operator. Generally, operators of natural gas and crude oil properties have the right to offset future revenues against unpaid charges related to operated wells. The allowance for doubtful accounts is an estimate of the losses in the Company’s accounts receivable. The Company periodically reviews the accounts receivable from customers for any collectability issues. An allowance for doubtful accounts is established based on reviews of individual customer accounts, recent loss experience, current economic conditions, and other pertinent factors. Amounts deemed uncollectible are charged to the allowance. Accounts receivable allowance for bad debt was $0.7 million and $0.6 million, as of December 31, 2015 and 2014 , respectively. At December 31, 2015 and 2014, the carrying value of the Company’s accounts receivable approximated fair value.
Oil and Gas Properties - Successful Efforts	Oil and Gas Properties - Successful Efforts The Company follows the successful efforts method of accounting for its natural gas and oil activities. Under the successful efforts method, lease acquisition costs and all development costs are capitalized. Exploratory drilling costs are capitalized until the results are determined. If proved reserves are not discovered, the exploratory drilling costs are expensed. Other exploratory costs, such as seismic costs and other geological and geophysical expenses, are expensed as incurred. Depreciation, depletion and amortization is calculated on a field by field basis using the unit of production method, with lease acquisition costs amortized over total proved reserves and other capitalized costs amortized over proved developed reserves. Depreciation, depletion and amortization ("DD&A") of capitalized drilling and development costs of producing natural gas and crude oil properties, including related support equipment and facilities net of salvage value, are computed using the unit-of-production method on a field basis based on total estimated proved developed natural gas and crude oil reserves. Amortization of producing leaseholds is based on the unit-of-production method using total estimated proved reserves. Upon sale or retirement of properties, the cost and related accumulated depreciation, depletion, and amortization are eliminated from the accounts and the resulting gain or loss, if any, is recognized. Unit-of-production rates are revised whenever there is an indication of a need, but at least annually. Revisions are accounted for prospectively as changes in accounting estimates. Other property and equipment are depreciated using the straight-line method over their estimated useful lives which range between three and 13 years.
Impairment Of Oil And Gas Properties	Impairment of Oil and Gas Properties When circumstances indicate that proved properties may be impaired, the Company compares expected undiscounted future cash flows on a field by field basis to the unamortized capitalized cost of the asset. If the estimated future undiscounted cash flows, based on the Company’s estimate of future reserves, natural gas and oil prices, operating costs and production levels from oil and natural gas reserves, are lower than the unamortized capitalized cost, then the capitalized cost is reduced to its fair value. The factors used to determine fair value include, but are not limited to, estimates of proved and probable reserves, future commodity prices, the timing of future production and capital expenditures and a discount rate commensurate with the risk reflective of the lives remaining for the respective oil and gas properties. Additionally, the Company may use appropriate market data to determine fair value. For the year ended December 31, 2015, the Company recorded an impairment expense of approximately $269.6 million related to proved properties. Approximately $235.8 million of this amount is attributable to the Madison/Grimes counties and Zavala/Dimmit/Karnes counties properties. For the year ended December 31, 2014, the Company recorded an impairment expense of approximately $11.4 million related to proved properties. Of this amount, $7.7 million related to South Timbalier 17 and $3.7 million related to the Tuscaloosa Marine Shale (“TMS”), a shale play in central Louisiana and Mississippi. No impairment of proved properties was recognized during the year ended December 31, 2013. Unproved properties are reviewed quarterly to determine if there has been an impairment of the carrying value, and any such impairment is charged to expense in the period. During the year ended December 31, 2015, the Company recognized impairment expense of approximately $16.3 million related to impairment and partial impairment of certain unproved properties and onshore prospects due primarily to the sustained low commodity price environment and expiring leases. Approximately $9.3 million of this amount is related to unproved lease cost amortization of the Elm Hill project in Fayette and Gonzales counties, Texas. On April 29, 2014, the Company reached total depth on its Ship Shoal 255 well, and no commercial hydrocarbons were found. As a result, for the year ended December 31, 2014, the Company recognized $31.5 million in exploration expense for the cost of drilling the well and $15.6 million in impairment expense, including $3.5 million related to leasehold costs and $12.1 million related to the platform located in Ship Shoal 263 block which was expected to be used by the Ship Shoal 255 well had it been successful. During the year ended December 31, 2014, the Company also recognized impairment expense of approximately $20.1 million related to impairment and partial impairment of certain unproved properties due to expiring leases and leases not likely to be drilled. Of this amount, approximately $9.7 million relates to undrilled offshore leases and approximately $9.7 million relates to undeveloped TMS acreage. For the year ended December 31, 2013, the Company recorded an impairment expense on unproved properties of $0.6 million related to leasehold costs on the Ship Shoal 83 prospect which it relinquished in August 2013, and $0.2 million related to leasehold costs on the Brazos Area 543 prospect.
Asset Retirement Obligations	Asset Retirement Obligations ASC 410, Asset Retirement and Environmental Obligations (ASC 410) requires that the fair value of an asset retirement cost, and corresponding liability, should be recorded as part of the cost of the related long-lived asset and subsequently allocated to expense using a systematic and rational method. The Company records asset retirement obligations to reflect the Company's legal obligations related to future plugging and abandonment of its oil and natural gas wells, platforms and associated pipelines and equipment. The Company estimates the expected cash flows associated with the obligation and discounts the amounts using a credit-adjusted, risk-free interest rate. At least annually, the Company reassesses the obligation to determine whether a change in the estimated obligation is necessary. The Company evaluates whether there are indicators that suggest the estimated cash flows underlying the obligation have materially changed. Should these indicators suggest the estimated obligation may have materially changed on an interim basis (quarterly), the Company will accordingly update its assessment. Additional retirement obligations increase the liability associated with new oil and natural gas wells, platforms, and associated pipelines and equipment as these obligations are incurred. The liability is accreted to its present value each period and the capitalized cost is depleted over the useful life of the related asset. The accretion expense is included in depreciation, depletion and amortization expense. The estimated liability is based on historical experience in plugging and abandoning wells. The estimated remaining lives of the wells is based on reserve life estimates and federal and state regulatory requirements. The liability is discounted using an assumed credit-adjusted risk-free rate. Revisions to the liability could occur due to changes in estimates of plugging and abandonment costs, changes in the risk-free rate or changes in the remaining lives of the wells, or if federal or state regulators enact new plugging and abandonment requirements. At the time of abandonment, the Company recognizes a gain or loss on abandonment to the extent that actual costs do not equal the estimated costs. This gain or loss on abandonment is included in impairment and abandonment of oil and gas properties expense. See Note 12 - "Asset Retirement Obligation" for additional information.
Income Taxes	Income Taxes The Company follows the liability method of accounting for income taxes under which deferred tax assets and liabilities are recognized for the future tax consequences of (i) temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements and (ii) operating loss and tax credit carryforwards for tax purposes. Deferred tax assets are reduced by a valuation allowance when, based upon management’s estimates, it is more likely than not that a portion of the deferred tax assets will not be realized in a future period. The Company reviews its tax positions quarterly for tax uncertainties. The Company did not have significant uncertain tax positions as of December 31, 2015 . The amount of unrecognized tax benefits did not materially change from December 31, 2014 . The amount of unrecognized tax benefits may change in the next twelve months; however, the Company does not expect the change to have a significant impact on its financial position or results of operations. The Company includes interest and penalties in interest income and general and administrative expenses, respectively, in its statement of operations. The Company files income tax returns in the United States and various state jurisdictions. The Company’s federal tax returns for 1998 – 2014 , and state tax returns for 2009 – 2014 , remain open for examination by the taxing authorities in the respective jurisdictions where those returns were filed.
Concentration Of Credit Risk	Concentration of Credit Risk Substantially all of the Company’s accounts receivable result from natural gas and oil sales or joint interest billings to a limited number of third parties in the natural gas and oil industry. This concentration of customers and joint interest owners may impact the Company’s overall credit risk in that these entities may be similarly affected by changes in economic and other conditions. See Note 3 - "Concentration of Credit Risk" for additional information.
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs incurred are capitalized and subsequently amortized over the term of the related debt. During the year ended December 31, 2013, the Company incurred $2.2 million of debt issuance costs relating to the new RBC credit facility entered into in conjunction with the Merger with Crimson. The debt issuance costs will be amortized over the original four year term of the credit line with amortization expense included in the Depreciation, Depletion and Amortization line item in the Company's income statement for the years ended December 31, 2015, 2014 and 2013.
Stock-Based Compensation	Stock-Based Compensation The Company applies the fair value based method to account for stock based compensation. Under this method, compensation cost is measured at the grant date based on the fair value of the award and is recognized over the requisite service period, which generally aligns with the award vesting period. The Company classifies the benefits of tax deductions in excess of the compensation cost recognized for the options (excess tax benefit) as financing cash flows. The fair value of each award is estimated as of the date of grant using the Black-Scholes option-pricing model.
Inventory	Inventory Inventory primarily consists of casing and tubing which will be used for drilling or completion of wells. Inventory is recorded at the lower of cost or market using specific identification method.
Derivatives Instruments And Hedging Activities	Derivative Instruments and Hedging Activities The Company accounts for its derivative activities under the provisions of ASC 815, Derivatives and Hedging (ASC 815). ASC 815 establishes accounting and reporting that every derivative instrument be recorded on the balance sheet as either an asset or liability measured at fair value. As of December 31, 2015, the Company had not entered into any derivative contracts to reduce exposure to interest rate risk. However, from time to time, the Company hedges a portion of its forecasted oil and natural gas production. Derivative contracts entered into by the Company have consisted of transactions in which the Company hedges the variability of cash flow related to a forecasted transactions using variable to fixed swaps and collars. The Company elected to not designate any of its derivative positions for hedge accounting. Accordingly, the net change in the mark-to-market valuation of these positions as well as all payments and receipts on settled derivative contracts are recognized in "Gain (loss) on derivatives, net" on the consolidated statements of operations for the years ended December 31, 2015, 2014 and 2013. Derivative instruments with settlement date within one year are included in current assets or liabilities, whereas derivative instruments with settlement dates exceeding one year are included in non-current assets or liabilities. The Company calculates a net asset or liability for current and non-current derivative instruments for each counterparty based on the settlement dates within the respective contracts. As of December 31, 2015, there were no commodity hedges in place. In January 2016, the Company entered into financial derivative contracts with a member of its bank group resulting in 1,300,000 MMBtus of natural gas per month being hedged from February 2016 through July 2016 and from November 2016 through December 2016, and 250,000 MMBtus of natural gas per month being hedged from August 2016 through October 2016 through swaps. See Note 7 - "Derivative Instruments" for additional information.
Reclassifications	Reclassifications Certain reclassifications have been made to the presentation of certain, income statement and cash flow items in the respective statements for the year ended December 31, 2013 in order to conform to the presentation for the year ended December 31, 2014. These reclassifications were not material.
Subsidiary Guarantees	Subsidiary Guarantees Contango Oil & Gas Company, as the parent company (the “Parent Company”), filed a registration statement on Form S-3 with the SEC to register, among other securities, debt securities that the Parent Company may issue from time to time. Crimson Exploration Inc., Crimson Exploration Operating, Inc., Contango Energy Company, Contango Operators, Inc., Contango Mining Company, Conterra Company, Contaro Company, Contango Alta Investments, Inc., Contango Venture Capital Corporation and any other of the Company’s future subsidiaries specified in the prospectus supplement (each a “Subsidiary Guarantor”) are Co-Registrants with the Parent Company under the registration statement, and the registration statement also registered guarantees of debt securities by the Subsidiary Guarantors. The Subsidiary Guarantors are wholly-owned by the Parent Company, either directly or indirectly, and any guarantee by the Subsidiary Guarantors will be full and unconditional. The Parent Company has no assets or operations independent of the Subsidiary Guarantors, and there are no significant restrictions upon the ability of the Subsidiary Guarantors to distribute funds to the Parent Company. The Parent Company has one other wholly-owned subsidiary that is inactive. Finally, the Parent Company’s wholly-owned subsidiaries do not have restricted assets that exceed 25% of net assets as of the most recent fiscal year end that may not be transferred to the Parent Company in the form of loans, advances or cash dividends by such subsidiary without the consent of a third party.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update No. 2016-02: Leases (Topic 842) (ASU 2016-02). The main objective of ASU 2016-02 is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The main difference between previous GAAP and Topic 842 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. ASU 2016-02 requires lessees to recognize assets and liabilities arising from leases on the balance sheet. ASU 2016-02 further defines a lease as a contract that conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Control over the use of the identified asset means that the customer has both (1) the right to obtain substantially all of the economic benefit from the use of the asset and (2) the right to direct the use of the asset. ASU 2016-02 requires disclosures by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. For public entities, ASU 2016-02 is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years; early application is permitted. The Company will continue to assess the impact this may have on its financial position, results of operations, and cash flows. In January 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update No. 2016-01: Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). The main objective of ASU 2016-01 is enhancing the reporting model for financial instruments to provide users of financial statements with more decision-useful information. The amendments in ASU 2016-01 make targeted improvements to GAAP by: (i) requiring equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) be measured at fair value with changes in fair value recognized in net income; (ii) simplifying the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; (iii) exempting all non-public business entities from disclosing fair value information for financial instruments measured at amortized cost; (iv) eliminating requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost on the balance sheet: (v) requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; (vi) requiring separate presentation in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; (vii) requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset; and (viii) clarifying that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. For public entities, ASU 2016-01 is effective for financial statements issued for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years; early application is permitted. The provisions of this accounting update are not expected to have a material impact on the Company’s financial position or results of operations. In November 2015, the FASB issued Accounting Standards Update No. 2015-17: Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes (ASU 2015-17). ASU 2015-17 is part of an initiative to reduce complexity in accounting standards. Current GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. However, this classification does not generally align with the time period in which the recognized deferred tax amounts are expected to be recovered or settled. To simplify the presentation of the deferred income taxes, ASU 2015-17 requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The current requirement that deferred tax liabilities and assets of an entity be offset and presented as a single amount is not affected by the amendments of ASU 2015-17. For public entities, ASU 2015-17 is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years; early application is permitted. The Company has selected early application starting with the financial statements issued for the year ended December 31, 2015. The provisions of this accounting update do not have a material impact on the Company’s financial position or results of operations. Accordingly, the deferred tax liability and valuation allowance are classified as non-current. In September 2015, the FASB issued Accounting Standards Update No. 2015-16: Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments (ASU 2015-16). ASU 2015-16 is part of an initiative to reduce complexity in accounting standards, and requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. In addition, the amendments of this update require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the changes to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. Furthermore, ASU 2015-16 requires an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustments to the provisional amounts had been recognized as of the acquisition date. For public entities, ASU 2015-16 is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The provisions of this accounting update are not expected to have a material impact on the Company’s financial position or results of operations. In August 2014, the FASB issued Accounting Standards Update No. 2014-15: Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (ASU 2014-15). ASU 2014-15 asserts that management should evaluate whether there are relevant condition or events that are known and reasonably knowable that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued or are available to be issued when applicable. If conditions or events at the date the financial statements are issued raise substantial doubt about an entity’s ability to continue as a going concern, disclosures are required which will enable users of the financial statements to understand the conditions or events as well as management’s evaluation and plan. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter; early application is permitted. The provisions of this accounting update are not expected to have a material impact on the Company’s financial position or results of operations. In May 2014, the FASB and the International Accounting Standards Board (“IASB”) jointly issued new accounting guidance for recognition of revenue Accounting Standards Update No. 2014-09: Revenue from Contracts with Customers (Topic 606) (ASU 2014-09). This new guidance replaces virtually all existing US GAAP and IFRS guidance on revenue recognition. ASU 2014-09 is effective for fiscal years beginning after December 15, 2016. This new guidance applies to all periods presented. Therefore, when the Company issues its financial statements on Forms 10-Q and 10-K for periods included in its year ended December 31, 2017, its comparative periods that are presented for the years ended December 31, 2015 and 2016, must be retrospectively presented in compliance with this new guidance. Early adoption is not allowed for US GAAP. The new guidance requires companies to make more estimates and use more judgment than under current accounting guidance. The Company does not anticipate that this new guidance will have a material impact on the Company’s consolidated financial position or results of operations for the periods presented. Further, management is closely monitoring the joint standard-setting efforts of the FASB and the International Accounting Standards Board. There are a large number of pending accounting standards that are being targeted for completion in 2016 and beyond. Because these pending standards have not yet been finalized, management is not able to determine the potential future impact that these standards will have, if any, on the Company's financial position, results of operations, or cash flows.

Merger With Crimson Explorati26

Merger With Crimson Exploration Inc. (Tables)	Oct. 31, 2013
Business Combinations [Abstract]
Schedule Of Assets Acquired And Liabilities Assumed	Consideration transferred: Crimson common stock to be acquired by the Company 46,624,721 Exchange ratio of the Company common shares for each Crimson common share 0.08288 The Company common stock to be issued to Crimson stockholders 3,864,101 Closing price of the Company common stock on October 1, 2013 $ 37.75 Fair value of common stock issued $ 145,870 Cash paid for partial shares 6 Fair value of stock options issued 698 Total estimated consideration transferred $ 146,574 Fair value of other liabilities assumed: Current liabilities $ 60,124 Long-term debt 235,373 Asset retirement obligations and other non-current liabilities 12,967 Amount attributable to liabilities assumed 308,464 Total consideration including liabilities assumed $ 455,038 Fair value of assets acquired: Current assets $ 13,492 Current and non-current deferred tax asset, net 24,905 Natural gas and oil properties, net 416,433 Other non-current assets 208 Amount attributable to net assets acquired $ 455,038 Goodwill $ —

Derivative Instruments (Tables)

Derivative Instruments (Tables)	11 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Derivative Instruments [Abstract]
Schedule Of Derivative Contracts	Commodity Period Derivative Volume/Month Price/Unit (1) Natural Gas Feb 2016 - July 2016 Swap 1,300,000 MMBtu $ 2.53 Natural Gas Aug 2016 - Oct 2016 Swap 250,000 MMBtu $2.53 Natural Gas Nov 2016 - Dec 2016 Swap 1,300,000 MMBtu $2.53
Schedule Of Derivative Contracts On Operations		Year ended December 31, Contract Type 2015 2014 2013 Crude oil contracts $ 2,348 $ 276 $ 180 Natural gas contracts — (1,560) 98 Realized gain (loss) $ 2,348 $ (1,284) $ 278 Crude oil contracts $ — $ 1,183 $ (1,179) Natural gas contracts — (52) (231) Unrealized gain (loss) $ — $ 1,131 $ (1,410) Gain (loss) on derivatives, net $ 2,348 $ (153) $ (1,132)

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Stock-Based Compensation [Abstract]
Summary Of Stock Options Granted	Year Ended December 31, 2015 2014 2013 Weighted Weighted Weighted Shares Average Shares Average Shares Average Under Exercise Under Exercise Under Exercise Options Price Options Price Options Price Outstanding, beginning of the period 129,934 $ 53.85 135,107 $ 53.00 — $ — Options assumed due to Merger — $ — — $ — 135,898 $ 52.90 Exercised — $ — (4,165) $ 28.93 (791) $ 36.16 Canceled / Forfeited (13,473) $ 43.65 (1,008) $ 42.39 — $ — Outstanding, end of year 116,461 $ 55.03 129,934 $ 53.85 135,107 $ 53.00 Aggregate intrinsic value $ — $ 4 $ 459 Exercisable, end of year 116,461 $ 55.03 129,934 $ 53.85 135,107 $ 53.00 Aggregate intrinsic value $ — $ 4 $ 459 Available for grant, end of the period 885,449 1,143,006 1,162,173 Weighted average fair value of options granted during the period $ — $ — $ —
Summary Of Restricted Stock Activity	2015 2014 2013 Weighted Aggregate Weighted Aggregate Weighted Aggregate Restricted Average Intrinsic Restricted Average Intrinsic Restricted Average Intrinsic Shares Fair Value Value Shares Fair Value Value Shares Fair Value Value Outstanding, beginning of the period 209,962 $ 43.86 $ 6,139 292,632 $ 44.38 $ 13,830 — $ — $ — Granted 277,121 21.83 6,049 26,386 40.83 1,073 356,299 44.10 15,723 Vested (137,195) 39.35 1,169 (94,807) 44.11 3,454 (63,667) 42.80 2,725 Canceled / Forfeited (12,723) 32.97 154 (14,249) 47.30 579 — — — Not vested, end of the period 337,165 28.16 2,161 209,962 43.86 6,139 292,632 44.38 13,830 Vested, end of the period — — — — — — — — — Expected to vest, end of the period 312,986 28.17 2,006 192,570 43.84 5,631 260,359 44.36 12,305

Other Financial Information (Ta

Other Financial Information (Tables)	12 Months Ended
	Dec. 31, 2015
Other Financial Information [Abstract]
Schedule Of Additional Financial Details	December 31, December 31, 2015 2014 Accounts receivable: Trade receivables $ 7,530 $ 13,926 Receivable for Alta Resources distribution 1,993 1,993 Joint interest billings 7,366 4,096 Income taxes receivable 2,868 3,274 Other receivables 1,448 2,610 Allowance for doubtful accounts (701) (590) Total accounts receivable $ 20,504 $ 25,309 Prepaid expenses and other: Prepaid insurance $ 900 $ 1,242 Other 328 699 Total prepaid expenses and other $ 1,228 $ 1,941 Accounts payable and accrued liabilities: Royalties and revenue payable $ 17,906 $ 31,653 Accrued exploration and development 3,659 26,538 Trade payables 8,053 17,282 Advances from partners 950 8,334 Accrued general and administrative expenses 2,596 6,258 Other accounts payable and accrued liabilities 3,194 2,827 Total accounts payable and accrued liabilities $ 36,358 $ 92,892
Schedule Of Supplemental Disclosures	Year Ended December 31, 2015 2014 2013 Cash payments: Interest payments $ 3,147 $ 2,786 $ 1,056 Income tax payments (refunds), net of cash refunds (180) 241 341 Non-cash items excluded from investing activities in the consolidated statements of cash flows: Increase (decrease) in accrued capital expenditures (22,879) 8,735 7,004 Assets acquired & liabilities assumed in the Merger: Accounts receivable — — 12,955 Prepaids — — 639 Proved natural gas and oil properties — 2,517 413,916 Deferred tax asset and other — — 24,940 Accounts payable and accrued liabilities — — (60,110) Other non-current liabilities — — (256) Long-term debt — — (235,373) Asset retirement obligations — (2,517) (11,183) Non-cash items excluded from financing activities in the consolidated statements of cash flows: Issuance of common stock in connection with the merger — — 145,870

Investment In Exaro Energy II30

Investment In Exaro Energy III LLC (Tables)	12 Months Ended
	Dec. 31, 2015
Investment In Exaro Energy III LLC [Abstract]
Schedule Of Condensed Balance Sheet Data	December 31, December 31, 2015 2014 (in thousands) Current assets (1) $ 23,664 $ 35,013 Non-current assets: Net property and equipment 101,459 233,997 Restricted cash escrow account — 577 Other non-current assets 486 1,779 Total non-current assets 101,945 236,353 Total assets $ 125,609 $ 271,366 Current liabilities $ 5,272 $ 9,405 Non-current liabilities: Long-term debt 78,500 94,500 Other non-current liabilities 2,891 1,084 Total non-current liabilities 81,391 95,584 Members' equity 38,946 166,377 Total liabilities & members' equity $ 125,609 $ 271,366
Schedule Of Condensed Income Statement Data	Year Ended December 31, 2015 2014 2013 ($ in thousands) Production: Oil (MBbls) 166 170 129 Gas (MMcf) 13,059 13,355 9,731 Total (Mmcfe) 14,055 14,375 10,506 Oil and natural gas sales $ 40,474 $ 79,536 $ 52,698 Other gain (loss) 6,358 5,069 (544) Less: Lease operating expenses 20,922 22,452 16,136 Depreciation, depletion, amortization & accretion 29,417 26,036 16,058 Impairment expense 118,000 — — General & administrative expense 3,255 3,484 3,294 Income (loss) from continuing operations (124,762) 32,633 16,666 Net interest expense (2,910) (3,861) (3,536) Net income (loss) $ (127,672) $ 28,772 $ 13,130

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	12 Months Ended
	Dec. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Change in Asset Retirement Obligation	Year ended December 31, 2015 2014 Balance as of the beginning of the period $ 25,746 $ 23,334 Liabilities incurred during period 349 3,123 Liabilities settled during period (254) (1,963) Accretion 1,219 1,303 Sales — (69) Change in estimate 167 18 Other adjustments (118) — Balance as of the end of the period $ 27,109 $ 25,746

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments And Contingencies[Abstract]
Schedule of Minimum Future Lease Operating Leases	Fiscal years ending December 31, 2016 $ 3,641 2017 2,154 2018 1,828 2019 519 2020 103 2021 and thereafter 209 Total $ 8,454

Net Income (Loss) Per Common 33

Net Income (Loss) Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Components Of Basic And Diluted Net Income Per Share Of Common Stock	Year Ended December 31, 2015 Net Loss Shares Per Share Basic Earnings per Share: Net loss attributable to common stock $ (335,048) 18,965 $ (17.67) Diluted Earnings per Share: Effect of potential dilutive securities: Stock options, weighted average of incremental shares — — — Net loss attributable to common stock $ (335,048) 18,965 $ (17.67) Year Ended December 31, 2014 Net Loss Shares Per Share Basic Earnings per Share: Net loss attributable to common stock $ (21,874) 19,059 $ (1.15) Diluted Earnings per Share: Effect of potential dilutive securities: Stock options, weighted average of incremental shares — — — Net loss attributable to common stock $ (21,874) 19,059 $ (1.15) Year Ended December 31, 2013 Net Income Shares Per Share Basic Earnings per Share: Net income attributable to common stock $ 41,362 16,156 $ 2.56 Diluted Earnings per Share: Effect of potential dilutive securities: Stock options, weighted average of incremental shares — 2 — Net income attributable to common stock $ 41,362 16,158 $ 2.56

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Schedule Of Effective Income Tax Rate Reconciliation	Year Ended December 31, 2015 2014 2013 Provision/(benefit) at statutory tax rate $ (148,925) 35.00 % $ (11,920) 35.00 % $ 23,011 35.00 % State income tax provision, net of federal benefit (116) 0.03 % 1,028 (3.00) % 2,928 4.45 % Permanent differences 30 (0.01) % 202 (0.60) % (1,559) (2.37) % State depletion deductions — — % (1,723) 5.10 % — — % Valuation allowance 55,310 (13.00) % — — % — — % Other 2,008 (0.47) % 230 (0.70) % 4 0.01 % Income tax provision /(benefit) $ (91,693) 21.55 % $ (12,183) 35.80 % $ 24,384 37.09 %
Components Of Income Tax Expense (Benefit)	Year Ended December 31, 2015 2014 2013 Current tax provision (benefit): Federal $ — $ (392) $ 8,739 State 636 478 3,857 Total $ 636 $ 86 $ 12,596 Deferred tax provision (benefit): Federal $ (92,329) $ (11,518) $ 11,361 State — (751) 427 Total $ (92,329) $ (12,269) $ 11,788 Total tax provision (benefit): Federal $ (92,329) $ (11,910) $ 20,100 State 636 (273) 4,284 Total $ (91,693) $ (12,183) $ 24,384 Included in gain (loss) from investment in affiliates $ (16,467) $ 3,727 $ 1,245 Total income tax provision (benefit) $ (75,226) $ (15,910) $ 23,139
Schedule Of Net Deferred Tax Liability	December 31, 2015 2014 Deferred tax assets: Net operating loss carryforward $ 49,249 $ 39,085 Income tax credits 1,010 661 Derivative instruments — 165 Deferred compensation 498 465 Oil and gas properties 12,941 — Other 1,007 1,953 Total deferred tax assets before valuation allowance $ 64,705 $ 42,329 Valuation allowance (57,471) (2,161) Net deferred tax assets $ 7,234 $ 40,168 Deferred tax liability: Oil and gas properties $ — $ (104,209) Investment in affiliates (7,234) (28,287) Other — — Deferred tax liability $ (7,234) $ (132,496) Total net deferred tax liability $ — $ (92,328)
Schedule Of Unrecognized Tax Benefits	Unrecognized Tax Benefits Balance at December 31, 2014 $ 518 Additions based on tax positions related to the current year — Additions based on tax positions related to prior years — Additions due to acquisitions — Reductions due to a lapse of the applicable statute of limitations (158) Balance at December 31, 2015 $ 360

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule Of Oil and Gas Ownership Interests	Olympic JEX REX JEX Employees WI NRI WI NRI WI NRI ORRI Dutch #1 - #5 3.53% 2.84% 1.88% 1.51% —% —% 2.02% Mary Rose #1 3.61% 2.70% 2.01% 1.51% —% —% 2.79% Mary Rose #2 - #3 3.61% 2.58% 2.01% 1.44% —% —% 2.79% Mary Rose #4 2.34% 1.70% 1.31% 0.95% —% —% 1.82% Mary Rose #5 2.56% 1.87% 1.43% 1.04% —% —% 1.82% Ship Shoal 263 —% —% —% —% —% —% 3.33% Vermilion 170 —% —% 4.30% 3.35% 12.50% 9.74% 3.33% Prior to December 2013, Contango, Olympic, and JEX had the following lower WI and NRI in Dutch #1-#5, as a result of exercising a preferential right in December 2013: Olympic JEX WI NRI WI NRI Dutch #1 - #5 3.02% 2.42% 1.61% 1.29%
Schedule Of Payments Received From (Made To) Related Parties	Year ended December 31, 2015 2014 2013 Olympic JEX REX Olympic JEX REX Olympic JEX REX Revenue payments as well owners $ (4,115) $ (2,639) $ (1,077) $ (7,349) $ (4,882) $ (2,270) $ (6,859) $ (4,628) $ (1,932) Joint interest billing receipts 531 386 1,246 673 521 322 945 1,201 2,090 Below is a summary of payments the Company received from (paid to) Olympic, JEX and REX as a result of specific transactions between the Company, Olympic, JEX and REX. While these payments are in the ordinary course of business, the Company did not have similar transactions with other well owners (in thousands): Year ended December 31, 2015 2014 2013 Olympic JEX REX Olympic JEX REX Olympic JEX REX Reimbursement of certain costs $ — $ — $ — $ (54) $ (29) $ — $ — $ (115) $ (4) Rent received for sublease — 119 — — 142 — — — — Prospect fees — — — — — — — (1,000) — Advisory Agreements — — — — — — — (361) — REX distribution to members — — — — — — — — (197)
Schedule Of Related Party Balances	December 31, 2015 December 31, 2014 Olympic JEX REX Olympic JEX REX Accounts receivable: Joint interest billing 26 25 27 48 42 12 Accounts payable: Royalties and revenue payable (451) (279) (83) (1,006) (620) (175)

Organization And Business (Deta

Organization And Business (Details) - shares	Oct. 01, 2013	Dec. 31, 2015	Apr. 30, 2012
Gas and Oil Acreage [Line Items]
Ownership percentage acquired	20.30%
Crimson [Member] | Contango [Member]
Gas and Oil Acreage [Line Items]
Acquisition of Crimson, shares	3,864,101
Exaro Energy III LLC [Member]
Gas and Oil Acreage [Line Items]
Equity method investment, ownership percentage		37.00%	37.00%

Summary Of Significant Accoun37

Summary Of Significant Accounting Policies (Details)	3 Months Ended	11 Months Ended	12 Months Ended
	Oct. 31, 2016MMBTU / mo	Dec. 31, 2016MMBTU / mo	Dec. 31, 2015USD ($)itemshares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013USD ($)shares	Aug. 31, 2013	Dec. 31, 2012USD ($)	Apr. 30, 2012
Significant Accounting Policies [Line Items]
Cash and cash equivalents			$ 0	$ 0	$ 0		$ 79,487,000
Outstanding checks in accounts payable that have not yet been presented for payment			6,800,000	12,100,000
Allowance for doubtful accounts			701,000	590,000
Impairment of proved properties			269,600,000	11,400,000	0
Impairment charges, unproved properties			16,300,000	15,600,000
Exploration expenses			11,979,000	$ 33,387,000	$ 1,811,000
Gas balancing asset (liability)			$ 0
Weighted average incremental shares | shares					2,000
Potentially dilutive shares | shares			453,626	339,896	187,302
Commodity price contracts - assets			$ 0	$ 0
Commodity Contract [Member] | Designated as Hedging Instrument [Member]
Significant Accounting Policies [Line Items]
Commodity price contracts - assets			$ 0
Gas Hedges - Feb 2016 - July 2016 and Nov 2016 - Dec 2016 [Member]
Significant Accounting Policies [Line Items]
Commodity Derivative Flow Rate | MMBTU / mo		1,300,000
Gas Hedges - Aug 2016 - Oct 2016 [Member]
Significant Accounting Policies [Line Items]
Commodity Derivative Flow Rate | MMBTU / mo	250,000
RBC Credit Facility [Member]
Significant Accounting Policies [Line Items]
Debt issuance costs incurred					$ 2,200,000
Original term of credit line			4 years
Ship Shoal 263 [Member]
Significant Accounting Policies [Line Items]
Impairment charges, unproved properties				12,100,000
Ship Shoal 83 [Member]
Significant Accounting Policies [Line Items]
Impairment charges, unproved properties					600,000
Brazos 543 [Member]
Significant Accounting Policies [Line Items]
Impairment charges, unproved properties					$ 200,000
Ship Shoal 255 Well [Member]
Significant Accounting Policies [Line Items]
Impairment charges, unproved properties				3,500,000
Exploration expenses				31,500,000
Unproved Properties With Expiring Leases [Member]
Significant Accounting Policies [Line Items]
Impairment charges, unproved properties				20,100,000
South Timbalier 17 [Member]
Significant Accounting Policies [Line Items]
Impairment of proved properties				7,700,000
Madison/Grimes and Zavala/Dimmitt/Karnes Counties[Member]
Significant Accounting Policies [Line Items]
Impairment of proved properties			$ 235,800,000
Undrilled Offshore Leases [Member]
Significant Accounting Policies [Line Items]
Impairment charges, unproved properties				9,700,000
Elm Hill Project [Member]
Significant Accounting Policies [Line Items]
Impairment charges, unproved properties			$ 9,300,000
Tuscaloosa Marine Shale [Member]
Significant Accounting Policies [Line Items]
Impairment of proved properties				3,700,000
Impairment charges, unproved properties				$ 9,700,000
Minimum [Member]
Significant Accounting Policies [Line Items]
Property and equipment depreciation, estimated useful life			3 years
Maximum [Member]
Significant Accounting Policies [Line Items]
Property and equipment depreciation, estimated useful life			13 years
Restricted assets, percent of net assets			25.00%
Moblize, Inc. [Member]
Significant Accounting Policies [Line Items]
Cost method investment ownership percentage			21.90%
Alta Energy [Member]
Significant Accounting Policies [Line Items]
Cost method investment ownership percentage			2.00%			2.00%
Exaro Energy III LLC [Member]
Significant Accounting Policies [Line Items]
Number of seats on Board of Directors | item			2
Equity method investment, ownership percentage			37.00%					37.00%
Cash and cash equivalents			$ 14,400,000

Concentration Of Credit Risk (D

Concentration Of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2015
Concentration Risk [Line Items]
Number of Months of Potential Revenue Loss	2 months
Sales Revenue, Goods, Net [Member] | ConocoPhillips Company [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	48.30%
Sales Revenue, Goods, Net [Member] | Shell Trading US Company [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	5.20%
Sales Revenue, Goods, Net [Member] | Sunoco Inc [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	22.80%
Sales Revenue, Goods, Net [Member] | Energy Transfer Company [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	5.50%
Sales Revenue, Goods, Net [Member] | Exxon Mobil Oil Corp. [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	5.10%

Merger With Crimson Explorati39

Merger With Crimson Exploration Inc. (Narrative) (Details)	Oct. 01, 2013USD ($)$ / sharesshares	Jun. 30, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Nov. 13, 2015USD ($)	May. 08, 2015USD ($)	Sep. 30, 2013USD ($)
Business Acquisition [Line Items]
Conversion rate for crimson stock	0.08288
Ownership percentage, post-merger	20.30%
Change in estimate of ARO			$ 167,000	$ 18,000
Accrued interest and pre-payment penalty	$ 1,800,000
Repayment of long-term debt	127,600,000				$ 235,373,000
Additional deferred tax liability due to basis differences	42,800,000
Change in fair value of deferred tax assets related to valuation allowances	$ 10,200,000		$ 55,310,000
Provision/(benefit) at statutory tax rate	37.00%
RBC Credit Facility [Member]
Business Acquisition [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 500,000,000
Revolving credit facility, expiration period	4 years		4 years
Revolving credit facility, borrowing base	$ 275,000,000					$ 190,000,000	$ 225,000,000
Credit facility fees	2,200,000
Borrowings under new revolving credit facility	110,000,000
Amegy Bank Credit Agreement [Member]
Business Acquisition [Line Items]
Revolving credit facility, maximum borrowing capacity	40,000,000							$ 40,000,000
Barclays [Member]
Business Acquisition [Line Items]
Assumed debt, accrued interest, and prepayment premium	175,000,000
Wells Fargo [Member]
Business Acquisition [Line Items]
Assumed debt, accrued interest, and prepayment premium	58,600,000
Debt Assumed from Crimson Acquisition [Member]
Business Acquisition [Line Items]
Assumed debt, accrued interest, and prepayment premium	235,400,000
Minimum [Member] | RBC Credit Facility [Member]
Business Acquisition [Line Items]
Margin rate	0.5
Maximum [Member] | RBC Credit Facility [Member]
Business Acquisition [Line Items]
Margin rate	$ 2.5
Contango [Member]
Business Acquisition [Line Items]
Stock options issued pursuant to acquisition | shares	136,000
Repayment of long-term debt	$ 127,600,000
Crimson [Member]
Business Acquisition [Line Items]
Conversion rate for crimson stock	0.08288
Change in estimate of ARO		$ 2,500,000
Common stock shares acquired | shares	46,624,721
Minimum expected volatility rate	29.30%
Maximum expected volatility rate	38.60%
Expected dividend yields	0.00%
Weighted average fair value per share for the options (in USD per share) | $ / shares	$ 5.14
Accrued interest and pre-payment penalty	$ 1,800,000
Assumed debt, accrued interest, and prepayment premium	235,373,000
Repayment of long-term debt	235,400,000
Operating loss carryforwards	110,000,000
Crimson [Member] | Barclays [Member]
Business Acquisition [Line Items]
Long-term debt	175,000,000
Accrued interest and pre-payment penalty	1,800,000
Repayment of long-term debt	175,000,000
Crimson [Member] | Wells Fargo [Member]
Business Acquisition [Line Items]
Repayment of long-term debt	$ 58,600,000
Crimson [Member] | Minimum [Member]
Business Acquisition [Line Items]
Minimum risk free interest rate	0.62%
Average expected term (in years)	2 years 8 months 12 days
Crimson [Member] | Maximum [Member]
Business Acquisition [Line Items]
Maximum risk free interest rate	1.35%
Average expected term (in years)	4 years 9 months 15 days
Crimson [Member] | Contango [Member]
Business Acquisition [Line Items]
Common stock issued to Crimson stockholders | shares	3,864,101
Closing price of the Company common stock on October 1, 2013 | $ / shares	$ 37.75

Merger with Crimson Explorati40

Merger with Crimson Exploration Inc. (Consideration Transferred, Liabilities Assumed, Assets Acquired) (Details)	Oct. 01, 2013USD ($)$ / sharesshares
Consideration transferred:
Exchange ratio of the Company common shares for each Crimson common share	0.08288
Crimson [Member]
Consideration transferred:
Crimson common stock to be acquired by the Company | shares	46,624,721
Exchange ratio of the Company common shares for each Crimson common share	0.08288
Fair value of common stock issued	$ 145,870,000
Cash paid for partial shares	6,000
Fair value of stock options issued	698,000
Total estimated consideration transferred	146,574,000
Fair value of other liabilities assumed:
Current liabilities	60,124,000
Long-term debt	235,373,000
Asset retirement obligations and other non-current liabilities	12,967,000
Amount attributable to liabilities assumed	308,464,000
Total consideration including liabilities assumed	455,038,000
Fair value of assets acquired:
Current assets	13,492,000
Current and non-current deferred tax asset, net	24,905,000
Natural gas and oil properties, net	416,433,000
Other non-current assets	208,000
Amount attributable to net assets acquired	455,038,000
Goodwill	$ 0
Contango [Member] | Crimson [Member]
Consideration transferred:
Common stock issued to Crimson stockholders | shares	3,864,101
Closing price of the Company common stock on October 1, 2013 | $ / shares	$ 37.75

Acquisitions, Dispositions An41

Acquisitions, Dispositions And Gains From Affiliates (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Aug. 31, 2013
Business Acquisition [Line Items]
Distributions from affiliates			$ 5,365	$ 23,154
Alta Energy [Member]
Business Acquisition [Line Items]
Expected proceeds from sale of investment					$ 30,500
Distributions from affiliates			5,400	23,100
Cost method investment ownership percentage		2.00%			2.00%
Expected future porceeds from sale of investment		$ 2,000
Accumulated distributions in excess of original investment		$ 15,300
Kaybob Duvernay [Member]
Business Acquisition [Line Items]
Cost method investment ownership percentage					5.00%
Dutch Well [Member]
Business Acquisition [Line Items]
Percentage of working interest acquired	7.84%
Percentage of revenue interest acquired	6.53%
Acquisition purchase price	$ 18,800
Purchase price adjustment (reduction in purchase price)			(4,100)
Acquisition purchase price, net			14,700
Developed and Undeveloped Properties in Madison and Grimes Counties, Southeast Texas [Member]
Business Acquisition [Line Items]
Purchase price adjustment (reduction in purchase price)			(100)	$ 400
Acquisition purchase price, net			20,300
Percentage of interest sold	7.10%			7.10%
Aggregate sales price of assets sold	$ 20,000			$ 20,000
Gain (loss) on sale of oil and gas property			$ (200)	$ 6,600

Fair Value Measurements (Detail

Fair Value Measurements (Details)	1 Months Ended		3 Months Ended	11 Months Ended	12 Months Ended
	Oct. 31, 2016$ / MMBTU	Aug. 31, 2016	Oct. 31, 2016MMBTU / mo$ / MMBTU	Dec. 31, 2016MMBTU / mo	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity price contracts - assets | $					$ 0	$ 0
Maximum period of interest rate on floating-rate debt					3 months
Impairment of proved properties | $					$ 269,600,000	$ 11,400,000	$ 0
Gas Hedges - Feb 2016 - July 2016 and Nov 2016 - Dec 2016 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity Derivative Flow Rate | MMBTU / mo				1,300,000
Gas Hedges - Aug 2016 - Oct 2016 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Price/Unit | $ / MMBTU	2.53		2.53
Commodity Derivative Flow Rate | MMBTU / mo			250,000
Gas Hedges - Aug 2016 - Oct 2016 [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Maturity Date		Aug. 1, 2016
Gas Hedges - Aug 2016 - Oct 2016 [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Maturity Date	Oct. 1, 2016

Derivative Instruments (Schedul

Derivative Instruments (Schedule Of Derivative Contracts) (Details)

1 Months Ended

2 Months Ended

3 Months Ended

6 Months Ended

11 Months Ended

Dec. 31, 2016$ / MMBTU

Nov. 30, 2016

Oct. 31, 2016$ / MMBTU

Aug. 31, 2016

Jul. 31, 2016$ / MMBTU

Feb. 29, 2016

Dec. 31, 2016MMBTU / mo$ / MMBTU

Oct. 31, 2016MMBTU / mo$ / MMBTU

Jul. 31, 2016MMBTU / mo$ / MMBTU

Dec. 31, 2016MMBTU / mo$ / MMBTU

Dec. 31, 2015USD ($)

Dec. 31, 2014USD ($)

Derivative [Line Items]

Commodity price contracts - assets | $

$ 0

$ 0

Gas Hedges - Feb 2016 - July 2016 and Nov 2016 - Dec 2016 [Member]

Derivative [Line Items]

Commodity Derivative Flow Rate

1,300,000

Gas Hedges - Nov 2016 - Dec 2016 [Member]

Derivative [Line Items]

Price/Unit | $ / MMBTU

2.53

2.53

2.53

Commodity Derivative Flow Rate

1,300,000

Gas Hedges - Nov 2016 - Dec 2016 [Member] | Minimum [Member]

Derivative [Line Items]

Derivative, Maturity Date

Nov. 1, 2016

Gas Hedges - Nov 2016 - Dec 2016 [Member] | Maximum [Member]

Derivative [Line Items]

Derivative, Maturity Date

Dec. 1, 2016

Gas Hedges - Feb 2016 - July 2016 [Member]

Derivative [Line Items]

Price/Unit | $ / MMBTU

2.53

2.53

Commodity Derivative Flow Rate

1,300,000

Gas Hedges - Feb 2016 - July 2016 [Member] | Minimum [Member]

Derivative [Line Items]

Derivative, Maturity Date

Feb. 1, 2016

Gas Hedges - Feb 2016 - July 2016 [Member] | Maximum [Member]

Derivative [Line Items]

Derivative, Maturity Date

Jul. 1, 2016

Gas Hedges - Aug 2016 - Oct 2016 [Member]

Derivative [Line Items]

Price/Unit | $ / MMBTU

2.53

2.53

Commodity Derivative Flow Rate

250,000

Gas Hedges - Aug 2016 - Oct 2016 [Member] | Minimum [Member]

Derivative [Line Items]

Derivative, Maturity Date

Aug. 1, 2016

Gas Hedges - Aug 2016 - Oct 2016 [Member] | Maximum [Member]

Derivative [Line Items]

Derivative, Maturity Date

Oct. 1, 2016

Derivative Instruments (Sched44

Derivative Instruments (Schedule Of Derivative Contracts On Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss)	$ 2,348	$ (1,284)	$ 278
Unrealized gain (loss)		1,131	(1,410)
Gain (loss) on derivatives, net	2,348	(153)	(1,132)
Crude Oil Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss)	$ 2,348	276	180
Unrealized gain (loss)		1,183	(1,179)
Natural Gas Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss)		(1,560)	98
Unrealized gain (loss)		$ (52)	$ (231)

Stock Based Compensation (Narra

Stock Based Compensation (Narrative) (Details) - USD ($)	Feb. 24, 2015	Jan. 31, 2016	Dec. 31, 2013	Nov. 30, 2013	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2015	Feb. 25, 2016	Oct. 01, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercised in period (in shares)							4,165	791
Options vested and exercisable (in shares)						116,461			116,461	116,461
Granted vested options, contractual term						5 years
Excess tax benefit from exercise/cancellation of stock options						$ 0	$ 0	$ 0
Stock option expense										$ 0
Aggregate intrinsic value of exercies during period						0	59,009	7,721
Share-based Compensation						$ 6,516,000	$ 4,515,000	$ 3,180,000
Stock options granted in period (in shares)									0
Restricted stock granted in period (in shares)							26,386
Weighted average fair value of restricted stock granted (in dollars per share)						$ 22.02	$ 40.83
Value of issued stock after adjustment for estimated forfeiture rate						$ 6,100,000
Weighted average forfeiture rate						4.90%
Restricted stock forfeitures during the period (in shares)							14,249
Options forfeitures during the period (in shares)						13,473
Stock vested in period (in shares)							94,807
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted, exercise price (in dollars per share)						$ 28.96
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted, exercise price (in dollars per share)						$ 60.33
New And Existing Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted in period (in shares)						249,917
Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted in period (in shares)						27,204
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted in period (in shares)						277,121		356,299
Weighted average fair value of restricted stock granted (in dollars per share)					$ 44.10	$ 21.83	$ 40.83	$ 44.10
Value of issued stock after adjustment for estimated forfeiture rate					$ 8,100,000		$ 1,100,000
Weighted average forfeiture rate					5.70%		2.20%
Restricted stock forfeitures during the period (in shares)						12,723
Stock vested in period (in shares)						137,195		63,667
Compensation expense not yet recognized						$ 7,200,000			$ 7,200,000	$ 7,200,000
Restricted Stock [Member] | Officers And Vice Presidents [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				3 years
Restricted stock granted in period (in shares)				254,677
Vesting percentage				25.00%
Restricted Stock [Member] | New And Existing Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			4 years			4 years	4 years
Restricted stock granted in period (in shares)			88,466				10,714
Restricted Stock [Member] | New Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				4 years
Restricted stock granted in period (in shares)				1,802
Restricted Stock [Member] | Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			1 year			1 year	1 year
Restricted stock granted in period (in shares)			11,354				15,672
2009 Equity Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock or options authorized for grant (in shares)						1,500,000			1,500,000	1,500,000
Shares available for grant						900,000			900,000	900,000
2009 Equity Compensation Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration term						5 years
Vesting period (in years)						0 years
2009 Equity Compensation Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration term						10 years
Vesting period (in years)						4 years
Stock Incentive Plan 2005 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration term						10 years
Shares available for grant											0	43,472
Restricted stock granted in period (in shares)	7,030
Stock Incentive Plan 2005 [Member] | Employee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued and outstanding												135,898
Vested, end of the year (in shares)												135,898
Stock Incentive Plan 2005 [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued and outstanding												136,428
Vested, end of the year (in shares)												136,428
1999 Plan, 2009 and 2005 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued and outstanding			135,107		135,107	116,461	129,934	135,107	116,461	116,461
Shares available for grant			1,162,173		1,162,173	885,449	1,143,006	1,162,173	885,449	885,449
Options exercised in period (in shares)							4,165	791
Options vested and exercisable (in shares)			135,107		135,107	116,461	129,934	135,107	116,461	116,461
Options forfeitures during the period (in shares)						13,473	1,008
Vested, end of the year (in shares)			135,107		135,107	116,461	129,934	135,107	116,461	116,461
2009 Plan Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted in period (in shares)		38,943
2009 Plan Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted in period (in shares)		1,745
2005 Plan Employees [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)						0 years
2005 Plan Employees [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)						4 years

Stock Based Compensation (Summa

Stock Based Compensation (Summary Of Stock Options Granted) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended			24 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Stock options granted in period (in shares)				0
Exercised (in shares)		(4,165)	(791)
Forfeited (in shares)	(13,473)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract]
Exercisable, end of year (in shares)	116,461			116,461
1999 Plan, 2009 and 2005 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning of year (in shares)	129,934	135,107		135,107
Options assumed due to merger (in shares)			135,898
Exercised (in shares)		(4,165)	(791)
Forfeited (in shares)	(13,473)	(1,008)
Outstanding, end of year (in shares)	116,461	129,934	135,107	116,461
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of year (in dollars per share)	$ 53.85	$ 53		$ 53
Options assumed due to merger (in dollars per share)			$ 52.90
Exercised (in dollars per share)		28.93	36.16
Forfeited (in dollars per share)	43.65	42.39
Outstanding, end of year (in dollars per share)	$ 55.03	$ 53.85	$ 53	$ 55.03
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract]
Expected to vest, end of the period		$ 4	$ 459
Exercisable, end of year (in shares)	116,461	129,934	135,107	116,461
Exercisable, end of year (in dollars per share)	$ 55.03	$ 53.85	$ 53	$ 55.03
Aggregate intrinsic value ($000), exercisable		$ 4	$ 459
Available for grant, end of year (in shares)	885,449	1,143,006	1,162,173	885,449

Stock Based Compensation (Sum47

Stock Based Compensation (Summary Of Restricted Stock Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restricted stock activity, shares
Outstanding, beginning of the period (in shares)		209,962	292,632
Granted (in shares)			26,386
Vested (in shares)			(94,807)
Canceled/Forfeited (in shares)			(14,249)
Not vested, end of the period (in shares)	292,632		209,962	292,632
Expected to vest, end of the period (in shares)			192,570
Restricted stock activity, weighted average fair value
Outstanding, beginning of the period (in dollars per share)		$ 43.86	$ 44.38
Granted (in dollars per share)		$ 22.02	40.83
Vested (in dollars per share)			44.11
Canceled/Forfeited (in dollars per share)			47.30
Not vested, end of the period (in dollars per share)	$ 44.38		43.86	$ 44.38
Expected to vest (in dollars per share)			$ 43.84
Restricted stock activity, intrinsic value
Outsanding, beginning of the period		$ 6,139	$ 13,830
Granted			1,073
Vested			3,454
Canceled/Forfeited			579
Not vested, end of the period	$ 13,830		6,139	$ 13,830
Expected to vest, end of the period			$ 5,631
Restricted Stock [Member]
Restricted stock activity, shares
Outstanding, beginning of the period (in shares)		209,962	292,632
Granted (in shares)		277,121		356,299
Vested (in shares)		(137,195)		(63,667)
Canceled/Forfeited (in shares)		(12,723)
Not vested, end of the period (in shares)	292,632	337,165	209,962	292,632
Expected to vest, end of the period (in shares)	260,359	312,986		260,359
Restricted stock activity, weighted average fair value
Outstanding, beginning of the period (in dollars per share)		$ 43.86	$ 44.38
Granted (in dollars per share)	$ 44.10	21.83	40.83	$ 44.10
Vested (in dollars per share)		39.35		42.80
Canceled/Forfeited (in dollars per share)		32.97
Not vested, end of the period (in dollars per share)	$ 44.38	$ 28.16	$ 43.86	$ 44.38
Vested, end of the period (in dollars per share)
Expected to vest (in dollars per share)	$ 44.36	$ 28.17		$ 44.36
Restricted stock activity, intrinsic value
Outsanding, beginning of the period		$ 6,139	$ 13,830
Granted		6,049		$ 15,723
Vested		1,169		2,725
Canceled/Forfeited		154
Not vested, end of the period	$ 13,830	2,161	$ 6,139	13,830
Expected to vest, end of the period	$ 12,305	$ 2,006		$ 12,305

Share Repurchase Programs (Deta

Share Repurchase Programs (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended		36 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Sep. 30, 2011
Equity, Class of Treasury Stock [Line Items]
Treasury shares at cost		205,457	0
Average price of shares repurchased (in dollars per share)		$ 35.89
Stock repurchased value		$ 7.4
Options forfeitures during the period (in shares)	13,473
$50 Million Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Approved share repurchase program value				$ 50
Value of repurchase program available for future purchases	$ 31.8		$ 31.8

Other Financial Information (Sc

Other Financial Information (Schedule Of Additional Financial Details) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accounts Receivable:
Trade receivable	$ 7,530	$ 13,926
Receivable for Alta Resources distribution	1,993	1,993
Joint interest billing	7,366	4,096
Income taxes receivable	2,868	3,274
Other receivables	1,448	2,610
Allowance for doubtful accounts	(701)	(590)
Total Accounts Receivable	20,504	25,309
Prepaid Expenses and Other:
Prepaid insurance	900	1,242
Other	328	699
Total Prepaid Expenses and Other	1,228	1,941
Accounts Payable and Accrued Liabilities:
Royalties and revenue payable	17,906	31,653
Accrued exploration and development	3,659	26,538
Trade payable	8,053	17,282
Advances from partners	950	8,334
Accrued general and administrative expenses	2,596	6,258
Other accounts payable and accrued liabilities	3,194	2,827
Total Accounts Payable and Accrued Liabilities	$ 36,358	$ 92,892

Other Financial Information (50

Other Financial Information (Schedule Of Non-Cash Transactions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash payments:
Interest payments	$ 3,147	$ 2,786	$ 1,056
Income tax payments (receipts)	(180)	241	341
Non-cash investing activities in the consolidated statements of cash flows:
Increase (decrease) in accrued capital expenditures	$ (22,879)	8,735	7,004
Assets acquired & liabilites assumed in the Merger
Accounts receivable			12,955
Prepaids			639
Proved natural gas and oil properties		2,517	413,916
Deferred tax asset and other			24,940
Accounts payable and accrued liabilities			(60,110)
Other non-current liabilities			(256)
Long-term debt			(235,373)
Asset retirement obligations		$ (2,517)	(11,183)
Non-cash items excluded from financing activities in the consolidated statements of cash flows:
Issuance of common stock in connection with the merger			$ 145,870

Investment in Exaro Energy II51

Investment in Exaro Energy III LLC (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2012	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Gain (loss) from investment in affiliates (net of income taxes)		$ (30,582)	$ 6,923	$ 2,310
Tax Expense (Benefit) associated with Equity Method Investment Income/ (loss)		(16,467)	3,727	1,245
Exaro Energy III LLC [Member]
Schedule of Equity Method Investments [Line Items]
Investment in affiliate		$ 46,900
Equity method investment, ownership percentage	37.00%	37.00%
Total Investment Commitment In Affiliates With Other Parties	$ 183,000
Share of equity in investment		$ 14,100
Gain (loss) from investment in affiliates (net of income taxes)		$ 30,600	$ 6,900	$ 2,300
Exaro Energy III LLC [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Investment in affiliate	$ 67,500

Investment in Exaro Energy II52

Investment in Exaro Energy III LLC (Schedule Of Condensed Balance Sheet Data) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Non-current assets:
Net property and equipment	$ 379,205	$ 748,623
Other non-current assets	15,279	63,752
Non-current liabilities:
Cash and cash equivalents	0	0	$ 0	$ 79,487
Exaro Energy III LLC [Member]
Equity Method Investment, Summarized Financial Information [Abstract]
Current assets	23,664	35,013
Non-current assets:
Net property and equipment	101,459	233,997
Restricted cash escrow account		577
Other non-current assets	486	1,779
Total non-current assets	101,945	236,353
Total assets	125,609	271,366
Current liabilities	5,272	9,405
Non-current liabilities:
Long-term debt	78,500	94,500
Other non-current liabilities	2,891	1,084
Total non-current liabilities	81,391	95,584
Member's equity	38,946	166,377
Total liabilities & member's equity	125,609	$ 271,366
Cash and cash equivalents	$ 14,400

Investment in Exaro Energy II53

Investment in Exaro Energy III LLC (Schedule Of Condensed Income Statement Data) (Details) bbl in Thousands, Mcfe in Thousands, Mcf in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015Mcf	Dec. 31, 2015bbl	Dec. 31, 2015Mcfe	Dec. 31, 2015USD ($)	Dec. 31, 2014Mcf	Dec. 31, 2014bbl	Dec. 31, 2014Mcfe	Dec. 31, 2014USD ($)	Dec. 31, 2013Mcf	Dec. 31, 2013bbl	Dec. 31, 2013Mcfe	Dec. 31, 2013USD ($)
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Other gain (loss)				$ 97				$ 124				$ 31,785
Less:
Impairment and abandonment of oil and gas properties				285,870				47,075				767
General & administrative expense				26,402				34,045				26,512
Exaro Energy III LLC [Member]
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Oil and Gas Production	13,059	166			13,355	170			9,731	129
Total Production (Mcfe) | Mcfe			14,055				14,375				10,506
Oil and natural gas sales				40,474				79,536				52,698
Other gain (loss)				6,358				5,069				(544)
Less:
Lease operating expenses				20,922				22,452				16,136
Depreciation, depletion, amortization & accretion				29,417				26,036				16,058
Impairment and abandonment of oil and gas properties				118,000
General & administrative expense				3,255				3,484				3,294
Income (loss) from continuing operations				(124,762)				32,633				16,666
Net interest expense				(2,910)				(3,861)				(3,536)
Net income (loss)				$ (127,672)				$ 28,772				$ 13,130

Asset Retirement Obligation (De

Asset Retirement Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Liabilities incurred during period	$ 349	$ 3,123
Liabilities settled	$ 254	1,963
Crimson [Member]
Business Acquisition [Line Items]
Liabilities incurred during period		2,500
New Wells Drilled [Member]
Business Acquisition [Line Items]
Liabilities incurred during period		$ 600

Asset Retirement Obligation (Sc

Asset Retirement Obligation (Schedule of Change in Asset Retirement Obligation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Asset Retirement Obligation [Abstract]
Balance as of the beginning of the period	$ 25,746	$ 23,334
Liabilities incurred during period	349	3,123
Liabilities settled during period	(254)	(1,963)
Accretion	1,219	1,303
Sales		(69)
Change in estimate	167	18
Other adjustments	(118)
Balance as of the end of the period	$ 27,109	$ 25,746

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)	Oct. 01, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Nov. 13, 2015	May. 08, 2015	Sep. 30, 2013
Debt Instrument [Line Items]
Accrued interest and pre-payment penalty	$ 1,800,000
Repayment of long-term debt	$ 127,600,000			$ 235,373,000
Interest expense		$ 3,164,000	$ 2,658,000	1,171,000
RBC Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility, expiration period	4 years	4 years
Revolving credit facility, borrowing base	$ 275,000,000				$ 190,000,000	$ 225,000,000
Credit facility fees	2,200,000
Credit facility amount outstanding		$ 115,400,000	63,400,000
Letters of credit amount outstanding		1,900,000	1,900,000
Line of credit, available		72,700,000
Revolving credit facility, maximum borrowing capacity	500,000,000
Interest expense		$ 3,200,000	$ 2,700,000	1,200,000
Arrangement fee				2,200,000
RBC Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Commitment fee percentage		0.375%
Revolving credit facility, margin rate		0.50%
RBC Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Commitment fee percentage		0.50%
Revolving credit facility, margin rate		2.50%
Amegy Bank Credit Agreement [Member]
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	40,000,000						$ 40,000,000
Interest expense				$ 37,000
Contango [Member]
Debt Instrument [Line Items]
Repayment of long-term debt	127,600,000
Crimson [Member]
Debt Instrument [Line Items]
Debt assumed with merger	235,373,000
Accrued interest and pre-payment penalty	1,800,000
Repayment of long-term debt	235,400,000
Barclays [Member]
Debt Instrument [Line Items]
Debt assumed with merger	175,000,000
Barclays [Member] | Crimson [Member]
Debt Instrument [Line Items]
Accrued interest and pre-payment penalty	1,800,000
Repayment of long-term debt	175,000,000
Wells Fargo [Member]
Debt Instrument [Line Items]
Debt assumed with merger	58,600,000
Wells Fargo [Member] | Crimson [Member]
Debt Instrument [Line Items]
Repayment of long-term debt	$ 58,600,000

Commitments And Contingencies57

Commitments And Contingencies (Narrative) (Details)	Sep. 01, 2015USD ($)	Jan. 31, 2016USD ($)	Oct. 31, 2013	Apr. 30, 2013USD ($)item	Sep. 30, 2012USD ($)	Nov. 30, 2010item	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Jul. 31, 2014USD ($)	Oct. 01, 2013USD ($)
Committments and Contingnecies [Line Items]
Lease commitment							$ 6,300,000	$ 6,000,000	$ 1,000,000
Jefferson Davis Parish Case [Member]
Legal Proceedings
Number of wells involved in litigation | item				2
Damages sought by plaintiffs				$ 2,500,000
Lavaca County Case [Member]
Legal Proceedings
Number of wells involved in litigation | item						2
Litigation Settlement Amount								$ 5,300,000
Litigation Case Filed by Mineral Interest Owner Harris County [Member]
Legal Proceedings
Damages sought by plaintiffs					$ 10,700,000
Additional portion of mineral interest claimed by plaintiff					6.25%
Maximum [Member] | Madison County Case [Member]
Legal Proceedings
Damages sought by plaintiffs		$ 9,400,000
Board of Directors Chairman [Member]
Employment Agreements
Bonus payment										$ 4,000,000
Chief Executive Officer [Member]
Employment Agreements
Base salary under employment agreement	$ 540,000										$ 600,000
Chief Executive Officer [Member] | Minimum [Member]
Employment Agreements
Cash bonus awards based on % of salary							50.00%
Stock Option Awards based on % of Salary							75.00%
Chief Executive Officer [Member] | Target [Member]
Employment Agreements
Cash bonus awards based on % of salary							100.00%
Stock Option Awards based on % of Salary							350.00%
Chief Executive Officer [Member] | Maximum [Member]
Employment Agreements
Cash bonus awards based on % of salary							150.00%
Stock Option Awards based on % of Salary							450.00%
Chief Financial Officer [Member]
Employment Agreements
Base salary under employment agreement	$ 360,000										400,000
Chief Financial Officer [Member] | Minimum [Member]
Employment Agreements
Cash bonus awards based on % of salary							50.00%
Stock Option Awards based on % of Salary							75.00%
Chief Financial Officer [Member] | Target [Member]
Employment Agreements
Cash bonus awards based on % of salary							90.00%
Stock Option Awards based on % of Salary							250.00%
Chief Financial Officer [Member] | Maximum [Member]
Employment Agreements
Cash bonus awards based on % of salary							130.00%
Stock Option Awards based on % of Salary							450.00%
Directors [Member]
Employment Agreements
Reduction in salary under salary replacement program	10.00%
CEO, CFO And The Three Directors [Member]
Employment Agreements
Employment agreement, initial term			3 years
Employment agreement, extension term			2 years
VPs, Isaac, Mengle & Atkins | Minimum [Member]
Employment Agreements
Cash bonus awards based on % of salary							50.00%
Stock Option Awards based on % of Salary							75.00%
VPs, Isaac, Mengle & Atkins | Target [Member]
Employment Agreements
Cash bonus awards based on % of salary							80.00%
Stock Option Awards based on % of Salary							250.00%
VPs, Isaac, Mengle & Atkins | Maximum [Member]
Employment Agreements
Cash bonus awards based on % of salary							120.00%
Stock Option Awards based on % of Salary							350.00%
VP, Isaac
Employment Agreements
Base salary under employment agreement	$ 288,000										320,000
VP, Mengle
Employment Agreements
Base salary under employment agreement	270,000										300,000
VP, Atkins
Employment Agreements
Base salary under employment agreement	$ 279,000										$ 310,000
Office Employees [Member]
Employment Agreements
Reduction in salary under salary replacement program	10.00%
Exaro Energy III LLC [Member]
Committments and Contingnecies [Line Items]
Future planned investments							$ 20,600,000

Commitments and Contingencies58

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2015USD ($)
Delay Rentals and Operating and Capital Leases [Abstract]
2,016	$ 3,641
2,017	2,154
2,018	1,828
2,019	519
2,020	103
2021 and thereafter	209
Total	$ 8,454

Net Income (Loss) Per Common 59

Net Income (Loss) Per Common Share (Components of Basic and Diluted Net Income Per Share of Common Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
NET INCOME (LOSS)	$ (335,048)	$ (21,874)	$ 41,362
Weighted average shares, basic (in shares)	18,965,000	19,059,000	16,156,000
Stock options, net of shares assumed purchased (in shares)			2,000
Weighted Average Number of Shares Outstanding, Diluted, Total	18,965,000	19,059,000	16,158,000
Income from continuing operations, basic (in dollars per share)	$ (17.67)	$ (1.15)	$ 2.56
Income from continuing operations, diluted (in dollars per share)	(17.67)	(1.15)	2.56
Total (in dollars per share)	$ (17.67)	$ (1.15)	$ 2.56
Potentially dilutive shares	453,626	339,896	187,302

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Oct. 01, 2013
Operating Loss Carryforwards [Line Items]
U.S. federal statutory corporate rate	35.00%	35.00%	35.00%
Valuation allowance	$ (57,471,000)	$ (2,161,000)
Interest and penalties related to unrecognized tax benefits	0
Unrecognized tax benefits that would impact effective tax rate	0
Crimson [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards				$ 110,000,000
Federal [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	140,400,000
State [Member] | Louisiana State Taxing Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 12,000,000

Income Taxes (Effective Income

Income Taxes (Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	Oct. 01, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Provision/(benefit) at statutory tax rate		$ (148,925)	$ (11,920)	$ 23,011
State income tax provision, net of federal benefit		(116)	1,028	2,928
Permanent differences		30	202	(1,559)
State depletion deductions			(1,723)
Valuation allowance	$ 10,200	55,310
Other		2,008	230	4
Total		$ (91,693)	$ (12,183)	$ 24,384
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Provision/(benefit) at statutory tax rate		35.00%	35.00%	35.00%
State income tax provision, net of federal benefit		0.03%	(3.00%)	4.45%
Permanent differences		(0.01%)	(0.60%)	(2.37%)
State depletion deductions			5.10%
Valuation allowance		(13.00%)
Other		(0.47%)	(0.70%)	0.01%
Income tax provision /(benefit)		21.55%	35.80%	37.09%

Income Taxes (Components Of Inc

Income Taxes (Components Of Income Tax Expense Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal		$ (392)	$ 8,739
State	$ 636	478	3,857
Total	636	86	12,596
Deferred:
Federal	(92,329)	(11,518)	11,361
State		(751)	427
Total	(92,329)	(12,269)	11,788
Total:
Federal	(92,329)	(11,910)	20,100
State	636	(273)	4,284
Total	(91,693)	(12,183)	24,384
Included in gain (loss) from investment in affiliates	(16,467)	3,727	1,245
Income tax provision (benefit)	(75,226)	(15,910)	$ 23,139
Deferred Tax Valuation Allowance	$ 57,471	$ 2,161

Income Taxes (Net Deferred Tax

Income Taxes (Net Deferred Tax Liability) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Net operating loss carryforward	$ 49,249	$ 39,085
Income tax credits	1,010	661
Derivative instruments		165
Deferred compensation	498	465
Oil and gas properties	12,941
Other	1,007	1,953
Total deferred tax assets before valuation allowance	64,705	42,329
Valuation allowance	(57,471)	(2,161)
Net deferred tax assets	7,234	40,168
Deferred tax liability:
Oil and gas properties		(104,209)
Investment in affiliates	(7,234)	(28,287)
Deferred tax liability	$ (7,234)	(132,496)
Total net deferred tax liability		$ (92,328)

Income Taxes (Unrecognized Tax

Income Taxes (Unrecognized Tax Benefits) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Beginning Balance	$ 518
Reductions due to a lapse of the applicable statute of limitations	(158)
Ending Balance	$ 360

Related Party Transactions (JEX

Related Party Transactions (JEX, Olympic Energy Partners, And REX) (Narrative) (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2013	Dec. 31, 2015
JEX [Member] | Contaro Advisory [Member]
Related Party Transaction, Oil and Gas Properties [Abstract]
Related party, monthly advisory fee	$ 10,000
Percentage fee of cash profits	1.00%
REX [Member]
Related Party Transaction, Oil and Gas Properties [Abstract]
Ownership interest in REX		32.30%
Maximum [Member] | Contango Offshore Exploration LLC [Member]
Related Party Transaction, Oil and Gas Properties [Abstract]
Overriding royalty interest, employee benefit		3.33%
All Future Projects Generated by REX [Member] | JEX Employees [Member]
Related Party Transaction, Oil and Gas Properties [Abstract]
Overriding royalty interest, employee benefit		3.33%
JEX [Member] | REX [Member]
Related Party Transaction, Oil and Gas Properties [Abstract]
Ownership interest in REX		34.40%
Third Party [Member] | REX [Member]
Related Party Transaction, Oil and Gas Properties [Abstract]
Ownership interest in REX		33.30%

Related Party Transactions (Sch

Related Party Transactions (Schedule Of Oil and Gas Ownership Interests) (Details)	Dec. 31, 2015	Nov. 30, 2013
Dutch Number 1 - 5 [Member] | Olympic [Member]
Related Party Transaction [Line Items]
Working interests	3.53%	3.02%
Net revenue interest	2.84%	2.42%
Dutch Number 1 - 5 [Member] | JEX [Member]
Related Party Transaction [Line Items]
Working interests	1.88%	1.61%
Net revenue interest	1.51%	1.29%
Dutch Number 1 - 5 [Member] | JEX Employees [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit	2.02%
Mary Rose Number 1 [Member] | Olympic [Member]
Related Party Transaction [Line Items]
Working interests	3.61%
Net revenue interest	2.70%
Mary Rose Number 1 [Member] | JEX [Member]
Related Party Transaction [Line Items]
Working interests	2.01%
Net revenue interest	1.51%
Mary Rose Number 1 [Member] | JEX Employees [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit	2.79%
Mary Rose Number 2-3 [Member] | Olympic [Member]
Related Party Transaction [Line Items]
Working interests	3.61%
Net revenue interest	2.58%
Mary Rose Number 2-3 [Member] | JEX [Member]
Related Party Transaction [Line Items]
Working interests	2.01%
Net revenue interest	1.44%
Mary Rose Number 2-3 [Member] | JEX Employees [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit	2.79%
Mary Rose Number 4 [Member] | Olympic [Member]
Related Party Transaction [Line Items]
Working interests	2.34%
Net revenue interest	1.70%
Mary Rose Number 4 [Member] | JEX [Member]
Related Party Transaction [Line Items]
Working interests	1.31%
Net revenue interest	0.95%
Mary Rose Number 4 [Member] | JEX Employees [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit	1.82%
Mary Rose Number 5 [Member] | Olympic [Member]
Related Party Transaction [Line Items]
Working interests	2.56%
Net revenue interest	1.87%
Mary Rose Number 5 [Member] | JEX [Member]
Related Party Transaction [Line Items]
Working interests	1.43%
Net revenue interest	1.04%
Mary Rose Number 5 [Member] | JEX Employees [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit	1.82%
Ship Shoal 263 [Member] | JEX Employees [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit	3.33%
Vermilion 170 [Member] | JEX [Member]
Related Party Transaction [Line Items]
Working interests	4.30%
Net revenue interest	3.35%
Vermilion 170 [Member] | REX [Member]
Related Party Transaction [Line Items]
Working interests	12.50%
Net revenue interest	9.74%
Vermilion 170 [Member] | JEX Employees [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit	3.33%

Related Party Transactions (Sum

Related Party Transactions (Summary Of Transactions) (Narrative) (Details)	Mar. 20, 2013USD ($)	Apr. 30, 2014shares	Dec. 31, 2013USD ($)	Jun. 30, 2013USD ($)	Mar. 31, 2013siteitem	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013USD ($)	Jun. 30, 2012site
Related Party Transaction [Line Items]
Stock-based compensation							$ 6,516,000	$ 4,515,000	$ 3,180,000
Restricted stock granted in period (in shares) | shares								26,386
Stock vested in period (in shares) | shares								94,807
Mr. Romano [Member]
Related Party Transaction [Line Items]
Director Compensation for Related Party							79,000	$ 105,000
Stock-based compensation expense							$ 99,000	$ 124,000
Restricted stock granted in period (in shares) | shares							4,534	2,612
Vesting percentage							100.00%
Vesting period (in years)							1 year
Mr. Juneau [Member]
Related Party Transaction [Line Items]
Number of shares accelerated | shares		1,622
Stock-based compensation						$ 71,000
JEX [Member]
Related Party Transaction [Line Items]
Annual sublease rental income							$ 100,000
Vermilion 170 [Member] | JEX [Member]
Related Party Transaction [Line Items]
Working interests							4.30%
Net revenue interest							3.35%
Vermilion 170 [Member] | REX [Member]
Related Party Transaction [Line Items]
Working interests							12.50%
Net revenue interest							9.74%
Vermilion 170 [Member] | JEX Employees [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit							3.33%
Mary Rose Number 5 [Member] | JEX [Member]
Related Party Transaction [Line Items]
Working interests							1.43%
Net revenue interest							1.04%
Mary Rose Number 5 [Member] | Olympic [Member]
Related Party Transaction [Line Items]
Working interests							2.56%
Net revenue interest							1.87%
Mary Rose Number 5 [Member] | JEX Employees [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit							1.82%
Lease Block Purchase One [Member]
Related Party Transaction [Line Items]
Number of lease blocks, oil and gas | site										5
Lease Block Purchase Two [Member]
Related Party Transaction [Line Items]
Number of lease blocks, oil and gas | site										1
Lease Block Purchase Two [Member] | JEX [Member]
Related Party Transaction [Line Items]
Prospect fees			$ 250,000
Lease Block Purchase Three [Member]
Related Party Transaction [Line Items]
Number of prospect fees paid | item					2
Number of lease blocks, oil and gas | site					3
Lease Block Purchase Three [Member] | JEX [Member]
Related Party Transaction [Line Items]
Prospect fees	$ 250,000
South Timbalier 17 [Member] | JEX [Member]
Related Party Transaction [Line Items]
Prospect fees				$ 250,000
South Timbalier 17 [Member] | Payout of All Costs [Member]
Related Party Transaction [Line Items]
Working interests				75.00%
Tuscaloosa Marine Shale [Member] | First Production [Member]
Related Party Transaction [Line Items]
Working interests							100.00%
Tuscaloosa Marine Shale [Member] | Through Production [Member] | Mr. Juneau [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit							0.75%
Tuscaloosa Marine Shale [Member] | Through Production [Member] | JEX [Member]
Related Party Transaction [Line Items]
Working interests							10.00%
Tuscaloosa Marine Shale [Member] | Through Production [Member] | JEX Employees [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit							2.00%
Tuscaloosa Marine Shale [Member] | Through Production [Member] | Geologist, Tuscaloosa Marine Shale [Member]
Related Party Transaction [Line Items]
Overriding royalty interest, employee benefit							2.00%

Related Party Transactions (Pay

Related Party Transactions (Payments Received From (Paid To) Related Parties In Ordinary Course of Business) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Olympic [Member]
Related Party Transaction [Line Items]
Revenue payments as well owners	$ (4,115)	$ (7,349)	$ (6,859)
Joint interest billing receipts	531	673	945
JEX [Member]
Related Party Transaction [Line Items]
Revenue payments as well owners	(2,639)	(4,882)	(4,628)
Joint interest billing receipts	386	521	1,201
REX [Member]
Related Party Transaction [Line Items]
Revenue payments as well owners	(1,077)	(2,270)	(1,932)
Joint interest billing receipts	$ 1,246	$ 322	$ 2,090

Related Party Transactions (P69

Related Party Transactions (Payments Received From (Paid To) Related Parties In Specific Transactions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Olympic [Member]
Related Party Transaction [Line Items]
Reimbursement of certain costs		$ (54)
JEX [Member]
Related Party Transaction [Line Items]
Reimbursement of certain costs		(29)	$ (115)
Annual sublease rental income	$ 100
Rent received from sublease	$ 119	$ 142
Prospect fees			(1,000)
Advisory Agreements			(361)
REX [Member]
Related Party Transaction [Line Items]
Reimbursement of certain costs			(4)
REX distribution to members			$ (197)

Related Party Transactions (S70

Related Party Transactions (Schedule Of Related Party Balances) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accounts receivable:
Joint interest billing	$ 7,366	$ 4,096
Olympic [Member]
Accounts receivable:
Joint interest billing	26	48
Accounts payable:
Royalties and revenue payable	(451)	(1,006)
JEX [Member]
Accounts receivable:
Joint interest billing	25	42
Accounts payable:
Royalties and revenue payable	(279)	(620)
REX [Member]
Accounts receivable:
Joint interest billing	27	12
Accounts payable:
Royalties and revenue payable	$ (83)	$ (175)

Related Party Transactions (Oak

Related Party Transactions (Oaktree, Contango ORE, And Equity Compensation) (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Oct. 01, 2013
Related Party Transaction [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		26,386
Accrued interest and pre-payment penalty			$ 1,800
Crimson [Member]
Related Party Transaction [Line Items]
Accrued interest and pre-payment penalty			1,800
Oaktree Capital Partners [Member]
Related Party Transaction [Line Items]
Ownership Percentage in Company's Stock	6.60%
Director Compensation for Related Party	$ 61	$ 64
Director Compensation for Related Party, Shares	4,534	2,612
Vesting period (in years)	1 year
Stock-based compensation expense	$ 99	$ 124
Barclays [Member] | Crimson [Member]
Related Party Transaction [Line Items]
Long-term debt			175,000
Accrued interest and pre-payment penalty			$ 1,800