Battalion Oil (BATL) 10-Q 31 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 25, 2014
Document and Entity Information	'	'
Entity Registrant Name	'HALCON RESOURCES CORP	'
Entity Central Index Key	'0001282648	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	421,570,923
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended			6 Months Ended		12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Oil, natural gas and natural gas liquids sales:	'	'	'	'	'	'
Oil	$304,212	'	$202,490	$560,241	$383,317	'
Natural gas	10,308	'	6,845	19,717	12,514	'
Natural gas liquids	9,364	'	4,254	18,123	8,082	'
Total oil, natural gas and natural gas liquids sales	323,884	'	213,589	598,081	403,913	'
Other	3,260	'	754	4,212	1,284	'
Total operating revenues	327,144	'	214,343	602,293	405,197	'
Production:	'	'	'	'	'	'
Lease operating	30,968	'	31,833	67,606	57,137	'
Workover and other	3,988	'	623	6,777	2,247	'
Taxes other than income	30,310	'	18,567	54,470	36,003	'
Gathering and other	5,898	'	2,802	10,659	3,135	'
Restructuring	'	'	-164	987	507	'
General and administrative	27,743	'	33,526	60,541	65,123	'
Depletion, depreciation and accretion	133,470	'	95,315	253,378	177,173	'
Full cost ceiling impairment	'	61,200	'	61,165	'	'
Other operating property and equipment impairment	3,477	'	'	3,789	'	'
Total operating expenses	235,854	'	182,502	519,372	341,325	'
Income (loss) from operations	91,290	'	31,841	82,921	63,872	'
Other income (expenses):	'	'	'	'	'	'
Net gain (loss) on derivative contracts	-121,042	'	34,100	-154,698	15,678	'
Interest expense and other, net	-37,725	'	-5,732	-68,664	-10,582	'
Total other income (expenses)	-158,767	'	28,368	-223,362	5,096	'
Income (loss) before income taxes	-67,477	'	60,209	-140,441	68,968	'
Income tax benefit (provision)	'	'	-23,121	'	-26,415	'
Net income (loss)	-67,477	'	37,088	-140,441	42,553	-1,222,662
Series A preferred dividends	-4,960	'	-716	-9,919	-716	'
Preferred dividends on redeemable noncontrolling interest	-896	'	'	-896	'	'
Net income (loss) available to common stockholders	($73,333)	'	$36,372	($151,256)	$41,837	'
Net income (loss) per share of common stock:	'	'	'	'	'	'
Basic (in dollars per share)	($0.18)	'	$0.10	($0.37)	$0.12	'
Diluted (in dollars per share)	($0.18)	'	$0.08	($0.37)	$0.11	'
Weighted average common shares outstanding:	'	'	'	'	'	'
Basic (in shares)	414,722	'	366,712	414,125	356,482	'
Diluted (in shares)	414,722	'	441,145	414,125	412,412	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'
Cash	$2,834
Accounts receivable	312,518
Receivables from derivative contracts	2,028
Inventory	5,148
Prepaids and other	16,098
Total current assets	338,626
Oil and natural gas properties (full cost method):	'
Evaluated	4,960,467
Unevaluated	2,028,044
Gross oil and natural gas properties	6,988,511
Less - accumulated depletion	-2,189,515
Net oil and natural gas properties	4,798,996
Other operating property and equipment:	'
Gas gathering and other operating assets	125,837
Less - accumulated depreciation	-8,461
Net other operating property and equipment	117,376
Other noncurrent assets:	'
Receivables from derivative contracts	22,734
Debt issuance costs, net	64,308
Deferred income taxes	8,474
Equity in oil and natural gas partnership	4,463
Funds in escrow and other	1,514
Total assets	5,356,491
Current liabilities:	'
Accounts payable and accrued liabilities	636,589
Liabilities from derivative contracts	17,859
Asset retirement obligations	71
Current portion of deferred income taxes	8,474
Current portion of long-term debt	1,389
Total current liabilities	664,382
Long-term debt	3,183,823
Other noncurrent liabilities:	'
Liabilities from derivative contracts	19,333
Asset retirement obligations	39,186
Other	2,157
Commitments and contingencies (Note 8)	'
Stockholders' equity:	'
Preferred stock: 1,000,000 shares of $0.0001 par value authorized; 345,000 shares of 5.75% Cumulative Perpetual Convertible Series A, issued and outstanding as of June 30, 2014 and December 31, 2013, respectively	'
Common stock: 1,340,000,000 and 670,000,000 shares of $0.0001 par value authorized; 421,652,565 and 415,729,962 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	41
Additional paid-in capital	2,953,786
Accumulated deficit	-1,506,217
Total stockholders' equity	1,447,610
Total liabilities and stockholders' equity	$5,356,491

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Stockholders' equity:	'	'
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares issued	345,000	345,000
Preferred stock, shares outstanding	345,000	345,000
Preferred stock, dividend rate of Cumulative Perpetual Convertible Series A (as a percent)	5.75%	5.75%
Common stock, shares authorized	1,340,000,000	670,000,000
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares issued	421,652,565	415,729,962
Common stock, shares outstanding	421,652,565	415,729,962

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Deficit
In Thousands, except Share data, unless otherwise specified	USD ($)		USD ($)	USD ($)	USD ($)	USD ($)
Balances at Dec. 31, 2012	'	'	'	'	($9,298)	'
Balances at Dec. 31, 2012	1,397,982	'	26	1,681,717	'	-274,463
Balances (in shares) at Dec. 31, 2012	'	'	'	'	1,650,000	'
Balances (in shares) at Dec. 31, 2012	'	'	259,802,000	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'
Net income (loss)	-1,222,662	'	'	'	'	-1,222,662
Dividends on Series A preferred stock	'	'	'	9,092	'	-9,092
Dividends on Series A preferred stock (in shares)	'	'	2,045,000	'	'	'
Preferred stock conversion	695,238	'	11	695,227	'	'
Preferred stock conversion (in shares)	'	'	108,801,000	'	'	'
Sale of Series A preferred stock	345,000	'	'	345,000	'	'
Sale of Series A preferred stock (in shares)	'	345,000	'	'	'	'
Common stock issuance	222,870	'	4	222,866	'	'
Common stock issuance (in shares)	'	'	43,700,000	'	'	'
Offering costs	-17,346	'	'	-17,346	'	'
Long-term incentive plan grants (in shares)	'	'	3,267,000	'	'	'
Long-term incentive plan forfeitures (in shares)	'	'	-205,000	'	'	'
Reduction in shares to cover individuals' tax withholding	-148	'	'	-148	'	'
Reduction in shares to cover individuals' tax withholding (in shares)	'	'	-30,000	'	'	'
Retirement of shares in treasury	'	'	'	-2,492	2,492	'
Retirement of shares in treasury (in shares)	'	'	-442,000	'	-442,000	'
Long-term incentive plan grants issued out of treasury	'	'	'	-6,806	6,806	'
Long-term incentive plan grants issued out of treasury (in shares)	'	'	-1,208,000	'	-1,208,000	'
Share-based compensation	26,676	'	'	26,676	'	'
Balances at Dec. 31, 2013	1,447,610	'	41	2,953,786	'	-1,506,217
Balances (in shares) at Dec. 31, 2013	'	345,000	415,730,000	'	'	'
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'
Net income (loss)	-140,441	'	'	'	'	-140,441
Dividends on Series A preferred stock	-9,919	'	'	9,919	'	-9,919
Dividends on Series A preferred stock (in shares)	'	'	2,300,000	'	'	'
Dividends on redeemable noncontrolling interest	-896	'	'	'	'	-896
Offering costs	39	'	'	39	'	'
Long-term incentive plan grants (in shares)	'	'	3,896,000	'	'	'
Long-term incentive plan forfeitures (in shares)	'	'	-165,000	'	'	'
Reduction in shares to cover individuals' tax withholding	-421	'	'	-421	'	'
Reduction in shares to cover individuals' tax withholding (in shares)	'	'	-108,000	'	'	'
Share-based compensation	13,584	'	'	13,584	'	'
Balances at Jun. 30, 2014	$1,319,475	'	$41	$2,976,907	'	($1,657,473)
Balances (in shares) at Jun. 30, 2014	'	345,000	421,653,000	'	'	'

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net income (loss)	($140,441)	$42,553
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:	'	'
Depletion, depreciation and accretion	253,378	177,173
Full cost ceiling impairment	61,165	'
Other operating property and equipment impairment	3,789	'
Deferred income tax provision (benefit)	'	21,305
Share-based compensation, net	9,246	6,975
Unrealized loss (gain) on derivative contracts	131,053	-19,139
Amortization and write-off of deferred loan costs	2,161	508
Non-cash interest and amortization of discount and premium	1,232	1,054
Other income (expense)	1,230	-2,912
Change in assets and liabilities, net of acquisitions:	'	'
Accounts receivable	71	-52,686
Inventory	-943	-768
Prepaids and other	2,944	-5,438
Accounts payable and accrued liabilities	86,057	62,741
Net cash provided by (used in) operating activities	410,942	231,366
Cash flows from investing activities:	'	'
Oil and natural gas capital expenditures	-853,738	-1,036,456
Acquisition of Williston Basin Assets	'	-29,739
Proceeds received from sale of oil and natural gas assets	465,452	10,466
Advance on carried interest	-189,442	'
Other operating property and equipment capital expenditures	-29,525	-80,692
Funds held in escrow and other	-307	-30,805
Net cash provided by (used in) investing activities	-607,560	-1,167,226
Cash flows from financing activities:	'	'
Proceeds from borrowings	1,286,000	1,528,000
Repayments of borrowings	-1,027,000	-915,400
Debt issuance costs	-77	-11,527
Series A preferred stock issuance	'	345,000
HK TMS,LLC preferred stock issued	110,051	'
HK TMS,LLC tranche rights	4,516	'
HK TMS,LLC preferred stock dividends	-493	'
Restricted cash	-16,000	'
Offering costs and other	-1,941	-9,658
Net cash provided by (used in) financing activities	355,056	936,415
Net increase (decrease) in cash	158,438	555
Cash at beginning of period	2,834	2,506
Cash at end of period	161,272	3,061
Disclosure of non-cash investing and financing activities:	'	'
Accrued capitalized interest	-1,068	-1,476
Asset retirement obligations	-4,450	5,394
Series A preferred dividends paid in common stock	9,919	'
HK TMS deemed dividends	$403	'

FINANCIAL_STATEMENT_PRESENTATI

FINANCIAL STATEMENT PRESENTATION	6 Months Ended
	Jun. 30, 2014
FINANCIAL STATEMENT PRESENTATION	'
FINANCIAL STATEMENT PRESENTATION	'
	1. FINANCIAL STATEMENT PRESENTATION
	Basis of Presentation and Principles of Consolidation
	Halcón Resources Corporation (Halcón or the Company) is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich assets in the United States. The unaudited condensed consolidated financial statements include the accounts of all majority-owned, controlled subsidiaries and an equity method investment. The Company operates in one segment which focuses on oil and natural gas acquisition, production, exploration and development. The Company's oil and natural gas properties are managed as a whole rather than through discrete operating areas. Operational information is tracked by operating area; however, financial performance is assessed as a whole. Allocation of capital is made across the Company's entire portfolio without regard to operating area. All intercompany accounts and transactions have been eliminated. These unaudited condensed consolidated financial statements reflect, in the opinion of the Company's management, all adjustments, consisting of normal and recurring adjustments, necessary to present fairly the financial position as of, and the results of operations for, the periods presented. During interim periods, Halcón follows the accounting policies disclosed in its 2013 Annual Report on Form 10-K, as filed with the United States Securities and Exchange Commission (SEC). Please refer to the notes in the 2013 Annual Report on Form 10-K when reviewing interim financial results.
	During the year ended 2013, the Company determined that "Net cash provided by operating activities" and "Net cash used in investing activities" for the six month period ended June 30, 2013 were both understated by $1.5 million as a result of the inclusion of capitalized non-cash interest in the change in "Accounts payable and accrued liabilities" line item in operating cash flows and "Oil and natural gas capital expenditures" and "Other operating property and equipment capital expenditures" in investing cash flows. The Company has corrected the error, which had no impact to the net cash flows for the period, and provided related supplemental non-cash information in the accompanying unaudited condensed consolidated statements of cash flows for the six month period ended June 30, 2013.
	Use of Estimates
	The preparation of the Company's unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods. Estimates and assumptions that, in the opinion of management of the Company, are significant include oil and natural gas revenue, capital and operating expense accruals, oil and natural gas reserves, depletion relating to oil and natural gas properties, asset retirement obligations, fair value estimates and income taxes. The Company bases its estimates and judgments on historical experience and on various other assumptions and information that are believed to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be perceived with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company's operating environment changes. Actual results may differ from the estimates and assumptions used in the preparation of the Company's unaudited condensed consolidated financial statements.
	Interim period results are not necessarily indicative of results of operations or cash flows for the full year and accordingly, certain information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States, has been condensed or omitted. The Company has evaluated events or transactions through the date of issuance of these unaudited condensed consolidated financial statements.
	Accounts Receivable and Allowance for Doubtful Accounts
	The Company's accounts receivable are primarily receivables from joint interest owners and oil and natural gas purchasers. Accounts receivable are recorded at the amount due, less an allowance for doubtful accounts, when applicable. The Company establishes provisions for losses on accounts receivable if it determines that collection of all or part of the outstanding balance is doubtful. The Company regularly reviews collectability and establishes or adjusts the allowance for doubtful accounts as necessary using the specific identification method. There were no allowances for doubtful accounts as of June 30, 2014 or December 31, 2013.
	Other Operating Property and Equipment
	Gas gathering systems and equipment are recorded at cost. Depreciation is calculated using the straight-line method over a 30-year estimated useful life. Upon disposition, the cost and accumulated depreciation are removed and any gains or losses are reflected in current operations. Maintenance and repair costs are charged to operating expense as incurred. Material expenditures which increase the life or productive capacity of an asset are capitalized and depreciated over the estimated remaining useful life of the asset. The Company capitalized $106.5 million and $92.0 million as of June 30, 2014 and December 31, 2013, respectively, related to the construction of its gas gathering systems.
	Other operating assets are recorded at cost. Depreciation is calculated using the straight-line method over the following estimated useful lives: automobiles and computers, three years; computer software, fixtures, furniture and equipment, five years; trailers, seven years; heavy equipment, ten years; an airplane and buildings, twenty years and leasehold improvements, lease term. Upon disposition, the cost and accumulated depreciation are removed and any gains or losses are reflected in current operations. Maintenance and repair costs are charged to operating expense as incurred. Material expenditures which increase the life of an asset are capitalized and depreciated over the estimated remaining useful life of the asset.
	The Company reviews its gas gathering systems and equipment and other operating assets for impairment in accordance with ASC 360, Property, Plant, and Equipment (ASC 360). ASC 360 requires the Company to evaluate gas gathering systems and equipment and other operating assets for impairment as events occur or circumstances change that would more likely than not reduce the fair value below the carrying amount. If the carrying amount is not recoverable from its undiscounted cash flows, then the Company would recognize an impairment loss for the difference between the carrying amount and the current fair value. Further, the Company evaluates the remaining useful lives of its gas gathering systems and other operating assets at each reporting period to determine whether events and circumstances warrant a revision to the remaining depreciation periods.
	Operating results for the six months ended June 30, 2014 reflect the impact of approximately $3.8 million in charges related to the disposition of midstream infrastructure assets associated with certain non-core property divestitures. These charges are included in "Other operating property and equipment impairment" in the Company's unaudited condensed consolidated statements of operations.
	Recently Issued Accounting Pronouncements
	In February 2013, the FASB issued ASU No. 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for which the Total Amount of the Obligation is Fixed at the Reporting Date (ASU 2013-04). ASU 2013-04 provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements, such as debt arrangements, other contractual obligations and settled litigation and judicial rulings. This pronouncement must be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of ASU 2013-04 did not have an impact to the Company's operating results, financial position and disclosures.
	In February 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). ASU 2013-11 provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This pronouncement should be applied prospectively to all unrecognized tax benefits that exist at the effective date and retrospective application is permitted. ASU 2013-11 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of this pronouncement did not have an impact to the Company's operating results and financial position.
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09). ASU 2014-09 states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard provides five steps an entity should apply in determining its revenue recognition. ASU 2014-09 must be applied retrospectively and is effective for annual reporting periods, and interim periods with that reporting period, beginning after December 15, 2016. Early adoption is not permitted. The Company is currently assessing the impact of the adoption of ASU 2014-09 on the Company's operating results, financial position and disclosures.

ACQUISITIONS_AND_DIVESTITURES

ACQUISITIONS AND DIVESTITURES	6 Months Ended
	Jun. 30, 2014
ACQUISITIONS AND DIVESTITURES	'
ACQUISITIONS AND DIVESTITURES	'
	2. ACQUISITIONS AND DIVESTITURES
	Divestitures
	East Texas Assets
	On May 9, 2014, the Company completed the divestiture of certain non-core assets in East Texas (the East Texas Assets) to a privately-owned company for a total purchase price of $425.3 million after closing adjustments for (i) operating expenses, capital expenditures and revenues between the effective date and the closing date, (ii) title and environmental defects, and (iii) other purchase price adjustments customary in oil and gas purchase and sale agreements. Proceeds from the sale were recorded as a reduction to the carrying value of the Company's full cost pool with no gain or loss recorded. The effective date of the transaction was April 1, 2014. Upon the closing of the sale of the East Texas Assets, the borrowing base on the Company's Senior Credit Agreement was reduced by $100 million, to $700 million.
	Non-core Properties
	During the third quarter of 2013, the Company entered into three separate purchase and sale agreements with unrelated parties to divest parcels of non-core properties located in the United States for total consideration of approximately $277.3 million, all of which closed by December 31, 2013. The consideration is subject to customary post-closing adjustments, with an effective date of July 1, 2013. Proceeds from the sales were recorded as a reduction to the carrying value of the Company's full cost pool with no gain or loss recorded.
	Eagle Ford Assets
	On July 19, 2013, the Company completed the sale of its interest in Eagle Ford assets located in Fayette and Gonzales Counties, Texas, previously acquired as part of the merger with GeoResources, Inc. (the Merger), to private buyers for proceeds of approximately $148.5 million, after post-closing adjustments. The transaction had an effective date of January 1, 2013. Proceeds from the sale were recorded as a reduction to the carrying value of the Company's full cost pool with no gain or loss recorded.

OIL_AND_NATURAL_GAS_PROPERTIES

OIL AND NATURAL GAS PROPERTIES	6 Months Ended
	Jun. 30, 2014
OIL AND NATURAL GAS PROPERTIES	'
OIL AND NATURAL GAS PROPERTIES	'
	3. OIL AND NATURAL GAS PROPERTIES
	The Company uses the full cost method of accounting for its investment in oil and natural gas properties. Under this method of accounting, all costs of acquisition, exploration and development of oil and natural gas reserves (including such costs as leasehold acquisition costs, geological expenditures, dry hole costs, tangible and intangible development costs and direct internal costs) are capitalized as the cost of oil and natural gas properties when incurred. To the extent capitalized costs of evaluated oil and natural gas properties, net of accumulated depletion, exceed the discounted future net revenues of proved oil and natural gas reserves, net of deferred taxes, such excess capitalized costs are charged to expense.
	The Company assesses all properties classified as unevaluated property on a quarterly basis for possible impairment or reduction in value. The Company assesses properties on an individual basis or as a group, if properties are individually insignificant. The assessment includes consideration of the following factors, among others: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; the assignment of proved reserves; and the economic viability of development if proved reserves are assigned. During any period in which these factors indicate impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and are then subject to depletion and the full cost ceiling test limitation.
	Investments in unevaluated oil and natural gas properties and exploration and development projects for which depletion expense is not currently recognized, and for which exploration or development activities are in progress, qualify for interest capitalization. The capitalized interest is determined by multiplying the Company's weighted-average borrowing cost on debt by the average amount of qualifying costs incurred that are excluded from the full cost pool; however, the amount of capitalized interest cannot exceed the amount of gross interest expense incurred in any given period. The capitalized interest amounts are recorded as additions to unevaluated oil and natural gas properties on the unaudited condensed consolidated balance sheets. As the costs excluded are transferred to the full cost pool, the associated capitalized interest is also transferred to the full cost pool. For the six months ended June 30, 2014 and 2013, the Company capitalized interest costs of $88.6 million and $106.4 million, respectively.
	At June 30, 2014, the ceiling test value of the Company's reserves was calculated based on the first-day-of-the-month average for the 12-months ended June 30, 2014 of the West Texas Intermediate (WTI) spot price of $100.27 per barrel, adjusted by lease or field for quality, transportation fees, and regional price differentials, and the first-day-of-the-month average for the 12-months ended June 30, 2014 of the Henry Hub price of $4.10 per million British thermal units (MMBtu), adjusted by lease or field for energy content, transportation fees, and regional price differentials. The Company's net book value of oil and natural gas properties at June 30, 2014 did not exceed the ceiling amount. At March 31, 2014, the Company recorded a full cost ceiling test impairment before income taxes of $61.2 million ($39.0 million after taxes). The Company recorded the full cost ceiling test impairment in "Full cost ceiling impairment" in the Company's unaudited condensed consolidated statements of operations and in "Accumulated depletion" in the Company's unaudited condensed consolidated balance sheets. Changes in production rates, levels of reserves, future development costs, transfers of unevaluated properties, and other factors will determine the Company's ceiling test calculations and impairment analyses in future periods.
	At June 30, 2013, the ceiling test value of the Company's reserves was calculated based on the first day average of the 12-months ended June 30, 2013 of the WTI spot price of $91.60 per barrel, adjusted by lease or field for quality, transportation fees, and regional price differentials, and the first day average of the 12-months ended June 30, 2013 of the Henry Hub price of $3.45 per MMBtu, adjusted by lease or field for energy content, transportation fees, and regional price differentials. Using these prices, the Company's net book value of oil and natural gas properties at June 30, 2013 did not exceed the ceiling amount.

LONGTERM_DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2014
LONG-TERM DEBT.	'
LONG-TERM DEBT	'
	4. LONG-TERM DEBT
	Long-term debt as of June 30, 2014 and December 31, 2013 consisted of the following:
		June 30,		December 31,
		2014(1)		2013(1)
		(In thousands)
	Senior revolving credit facility	$	259,000	$	—
	9.25% senior notes due 2022		400,000		400,000
	8.875% senior notes due 2021(2)		1,371,216		1,372,355
	9.75% senior notes due 2020(3)		1,151,961		1,152,099
	8.0% convertible note due 2017(4)		263,461		259,369
		$	3,445,638	$	3,183,823
	-1
	Table excludes $1.4 million of deferred premiums on derivative contracts which were classified as current at June 30, 2014 and December 31, 2013.
	-2
	Amounts are net of a $4.9 million and a $5.1 million unamortized discount at June 30, 2014 and December 31, 2013, respectively, related to the issuance of the original 2021 Notes. The unamortized premium related to the additional 2021 Notes was approximately $26.1 million and $27.5 million at June 30, 2014 and December 31, 2013, respectively. See "8.875% Senior Notes" below for more details.
	-3
	Amounts are net of a $8.4 million and a $8.9 million unamortized discount at June 30, 2014 and December 31, 2013, respectively, related to the issuance of the original 2020 Notes. On December 19, 2013, the Company completed the issuance of an additional $400 million principal amount of these notes. The unamortized premium related to these additional 2020 Notes was approximately $10.3 million and $11.0 million at June 30, 2014 and December 31, 2013, respectively. See "9.75% Senior Notes" below for more details.
	-4
	Amount is net of a $26.2 million and a $30.3 million unamortized discount at June 30, 2014 and December 31, 2013, respectively. See "8.0% Convertible Note" below for more details.
	Senior Revolving Credit Facility
	On February 8, 2012, the Company entered into a senior secured revolving credit agreement (the Senior Credit Agreement) with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto. The Senior Credit Agreement provides for a $1.5 billion facility with a current borrowing base of $700.0 million. Amounts borrowed under the Senior Credit Agreement will mature on February 8, 2017. The borrowing base will be redetermined semi-annually, with the lenders and the Company each having the right to one interim unscheduled redetermination between any two consecutive semi-annual redeterminations. The borrowing base takes into account the Company's oil and natural gas properties, proved reserves, total indebtedness, and other relevant factors consistent with customary oil and natural gas lending criteria. The borrowing base is subject to a reduction equal to the product of 0.25 multiplied by the stated principal amount (without regard to any initial issue discount) of any future notes or other long-term debt securities that the Company may issue. Funds advanced under the Senior Credit Agreement may be paid down and re-borrowed during the five-year term of the facility. Amounts outstanding under the Senior Credit Agreement bear interest at specified margins over the base rate of 0.50% to 1.50% for ABR-based loans or at specified margins over LIBOR of 1.50% to 2.50% for Eurodollar-based loans. These margins fluctuate based on the Company's utilization of the facility. Advances under the Senior Credit Agreement are secured by liens on substantially all of the Company's and its restricted subsidiaries' properties and assets. The Senior Credit Agreement contains customary representations, warranties and covenants including, among others, restrictions on the payment of dividends on the Company's capital stock and financial covenants, including minimum working capital levels (the ratio of current assets plus the unused commitment under the Senior Credit Agreement to current liabilities) of not less than 1.0 to 1.0 and minimum coverage of interest expenses of i) not less than 2.0 to 1.0 through December 31, 2014 (pursuant to the Seventh Amendment, discussed below) and ii) not less than 2.5 to 1.0 for subsequent periods.
	At June 30, 2014, under the borrowing base of $700.0 million, the Company had $259.0 million of indebtedness outstanding, $1.1 million of letters of credit outstanding and approximately $266 million of borrowing capacity under the indebtedness limitations in the Company's indentures.
	On October 31, 2013, the Company entered into the Sixth Amendment to the Senior Credit Agreement, which, among other things, provides for EBITDA (as defined in the Senior Credit Agreement) to be annualized for three fiscal quarters starting with the fiscal quarter ended December 31, 2013 for purposes of measuring compliance with the interest coverage test. Specifically, (i) for the fiscal quarter ended December 31, 2013, the Interest Coverage Ratio shall be calculated by utilizing EBITDA for the three month period then ended multiplied by 4; (ii) for the fiscal quarter ended March 31, 2014, the Interest Coverage Ratio shall be calculated by utilizing EBITDA for the six month period then ended multiplied by 2; and (iii) for the fiscal quarter ended June 30, 2014, the Interest Coverage Ratio shall be calculated by utilizing EBITDA for the nine month period then ended multiplied by 1.333.
	On March 21, 2014, the Company entered into the Seventh Amendment to its Senior Credit Agreement (the Seventh Amendment). The Seventh Amendment increased the borrowing base to $800.0 million, which was subsequently reduced to $700 million upon the closing of the East Texas Assets divestiture in May 2014, as discussed in Note 2 "Acquisitions and Divestitures." The Seventh Amendment also provided the Company additional flexibility under the interest coverage test by modifying the minimum Interest Coverage Ratio to be 2.0 to 1.0 for any fiscal quarter ending on or before December 31, 2014.
	At June 30, 2014, the Company was in compliance with the financial covenants under the Senior Credit Agreement.
	9.25% Senior Notes
	On August 13, 2013, the Company issued at par $400.0 million aggregate principal amount of 9.25% senior notes due 2022 (the 2022 Notes). The net proceeds from the offering of approximately $392.1 million (after deducting commissions and offering expenses) were used to repay a portion of the then outstanding borrowings under the Company's Senior Credit Agreement.
	The 2022 Notes bear interest at a rate of 9.25% per annum, payable semi-annually on February 15 and August 15 of each year, beginning on February 15, 2014. The 2022 Notes will mature on February 15, 2022. The 2022 Notes are senior unsecured obligations of the Company, rank equally with all of its current and future senior indebtedness and are jointly and severally, fully and unconditionally guaranteed on a senior unsecured basis by the Company's existing 100% owned subsidiaries, except for one subsidiary, HK TMS, LLC. Halcón, the issuer of the 2022 Notes, has no material independent assets or operations apart from the assets and operations of its subsidiaries.
	On May 23, 2014, the Company completed a registered exchange offer of the outstanding 2022 Notes for new registered notes having terms substantially identical to the 2022 Notes.
	On or before August 15, 2016, the Company may redeem up to 35% of the aggregate principal amount of the 2022 Notes with the net cash proceeds of certain equity offerings at a redemption price of 109.25% of the principal amount plus accrued and unpaid interest to the redemption date provided that: at least 65% in aggregate principal amount of the 2022 Notes originally issued remains outstanding immediately after the redemption and the redemption occurs within 180 days of the related equity offering. In addition, at any time prior to August 15, 2017, the Company may redeem some or all of the 2022 Notes for the principal amount thereof, plus accrued and unpaid interest plus a make whole premium equal to the excess, if any of (a) the present value at such time of (i) the redemption price of such note at August 15, 2017, plus (ii) any required interest payments due on the notes through August 15, 2017 (excluding currently accrued and unpaid interest) computed using a discount rate equal to the Treasury Rate plus 50 basis points, discounted to the redemption date on a semi-annual basis, over (b) the principal amount of such note.
	The indenture governing the 2022 Notes contains affirmative and negative covenants that, among other things, limit the ability of the Company and its subsidiaries that guarantee notes to incur indebtedness; purchase or redeem stock or subordinated indebtedness; make investments; create liens; enter into transactions with affiliates; sell assets; refinance certain indebtedness; merge with or into other companies or transfer substantially all of their assets; and, in certain circumstances, to pay dividends or make other distributions on stock. With respect to indebtedness, the indenture limits the Company's ability to incur additional indebtedness, including borrowings under its Senior Credit Agreement, unless the Company meets one of two tests: the fixed charge coverage ratio test, which requires that after giving effect to the incurrence of additional debt the ratio of the Company's adjusted consolidated EBITDA (as defined in the indenture) to its adjusted consolidated interest expense over the trailing four fiscal quarters will be at least 2.0 to 1.0; or, in the alternative, the Company may incur additional debt under Credit Facilities (as defined in the indenture) if the amount of such additional indebtedness is not more than the greater of a fixed sum of $750 million or 30% of the Company's adjusted consolidated net tangible assets (as defined in the indenture), which is determined primarily by the value of discounted future net revenues from proved oil and natural gas reserves as of the date of such determination.
	8.875% Senior Notes
	On November 6, 2012, the Company issued $750.0 million aggregate principal amount of its 8.875% senior notes due 2021 (the 2021 Notes), at a price to the initial purchasers of 99.247% of par. The net proceeds from the offering of approximately $725.6 million (after deducting the initial purchasers' discounts, commissions and offering expenses) were used to fund a portion of the cash consideration paid in the acquisition of two wholly-owned subsidiaries of Petro-Hunt Holdings, LLC and Pillar Holdings, LLC, which owned acreage prospective for the Bakken / Three Forks formations located in North Dakota, in Williams, Mountrail, McKenzie and Dunn Counties.
	On January 14, 2013, the Company issued an additional $600.0 million aggregate principal amount of the 2021 Notes at a price to the initial purchasers of 105% of par. The net proceeds from the sale of the additional 2021 Notes of approximately $619.5 million (after the initial purchasers' premiums, commissions and offering expenses) were used to repay all of the then outstanding borrowings under the Senior Credit Agreement and for general corporate purposes, including funding a portion of the Company's 2013 capital expenditures program. These notes were issued as "additional notes" under the indenture governing the 2021 Notes and under the indenture are treated as a single series with substantially identical terms as the 2021 Notes previously issued.
	The 2021 Notes bear interest at a rate of 8.875% per annum, payable semi-annually on May 15 and November 15 of each year, beginning on May 15, 2013. The Notes will mature on May 15, 2021. The 2021 Notes are senior unsecured obligations of the Company and rank equally with all of its current and future senior indebtedness. The 2021 Notes are jointly and severally, fully and unconditionally guaranteed on a senior unsecured basis by the Company's existing 100% owned subsidiaries, except for one subsidiary, HK TMS, LLC. Halcón, the issuer of the 2021 Notes, has no material independent assets or operations apart from the assets and operations of its subsidiaries.
	On June 4, 2013, the Company completed a registered exchange offer of outstanding 2021 Notes for new registered notes having terms substantially identical to the 2021 Notes.
	On or before November 15, 2015, the Company may redeem up to 35% of the aggregate principal amount of the 2021 Notes with the net cash proceeds of certain equity offerings at a redemption price of 108.875% of the principal amount plus accrued and unpaid interest to the redemption date provided that: at least 65% in aggregate principal amount of the 2021 Notes originally issued remains outstanding immediately after the redemption and the redemption occurs within 180 days of the date of closing of the related equity offering. In addition, at any time prior to November 15, 2016, the Company may redeem some or all of the 2021 Notes for the principal amount thereof, plus accrued and unpaid interest plus a make whole premium equal to the excess, if any of (a) the present value at such time of (i) the redemption price of such note at November 15, 2016, plus (ii) any required interest payments due on the notes through November 15, 2016 (excluding currently accrued and unpaid interest) computed using a discount rate equal to the Treasury Rate plus 50 basis points, discounted to the redemption date on a semi-annual basis, over (b) the principal amount of such note.
	In conjunction with the issuance of the 2021 Notes, the Company recorded a discount of approximately $5.7 million to be amortized over the remaining life of the 2021 Notes using the effective interest method. The remaining unamortized discount was $4.9 million at June 30, 2014. In conjunction with the issuance of the additional 2021 Notes, the Company recorded a premium of approximately $30.0 million to be amortized over the remaining life of the additional 2021 Notes using the effective interest method. The remaining unamortized premium was $26.1 million at June 30, 2014.
	The indenture governing the 2021 Notes contains affirmative and negative covenants that are substantially the same as those contained in the indenture governing the 9.25% senior notes, described above.
	9.75% Senior Notes
	On July 16, 2012, the Company issued $750.0 million aggregate principal amount of 9.75% senior notes due 2020 issued at 98.646% of par (the 2020 Notes). The net proceeds from the offering were approximately $723.1 million after deducting the initial purchasers' discounts, commissions and offering expenses and were used to fund a portion of the cash consideration paid in the Merger and the acquisition of certain oil and gas leaseholds located in East Texas.
	On December 19, 2013, the Company issued an additional $400.0 million aggregate principal amount of the 2020 Notes at a price to the initial purchasers of 102.750% of par. The net proceeds from the sale of the additional 2020 Notes of approximately $406.1 million (after the initial purchasers' fees, commissions and offering expenses) were used to repay a portion of the then outstanding borrowings under the Senior Credit Agreement. These notes were issued as "additional notes" under the indenture governing the 2020 Notes and under the indenture are treated as a single series with substantially identical terms as the 2020 Notes previously issued.
	The 2020 Notes bear interest at a rate of 9.75% per annum, payable semi-annually on January 15 and July 15 of each year, beginning on January 15, 2013. The 2020 Notes will mature on July 15, 2020. The 2020 Notes are senior unsecured obligations of the Company and rank equally with all of its current and future senior indebtedness. The 2020 Notes are jointly and severally, fully and unconditionally guaranteed on a senior unsecured basis by the Company's existing 100% owned subsidiaries, except for one subsidiary, HK TMS, LLC. Halcón, the issuer of the 2020 Notes, has no material independent assets or operations apart from the assets and operations of its subsidiaries.
	On June 4, 2013, the Company completed a registered exchange offer of the outstanding 2020 Notes originally issued, for new registered notes having terms substantially identical to the original 2020 Notes. On May 23, 2014, the Company completed a registered exchange offer of the outstanding additional 2020 Notes for new registered notes having terms substantially identical to the additional 2020 Notes.
	On or before July 15, 2015, the Company may redeem up to 35% of the aggregate principal amount of the 2020 Notes with the net cash proceeds of certain equity offerings at a redemption price of 109.750% of the principal amount plus accrued and unpaid interest to the redemption date provided that: at least 65% in aggregate principal amount of the 2020 Notes originally issued remains outstanding immediately after the redemption and the redemption occurs within 180 days of the equity offering. In addition, at any time prior to July 15, 2016, the Company may redeem some or all of the 2020 Notes for the principal amount thereof, plus accrued and unpaid interest plus a make whole premium equal to the excess , if any of (a) the present value at such time of (i) the redemption price of such note at July 15, 2016, plus (ii) any required interest payments due on the notes through July 15, 2016 (excluding currently accrued and unpaid interest) computed using a discount rate equal to the Treasury Rate plus 50 basis points, discounted to the redemption date on a semi-annual basis, over (b) the principal amount of such note.
	In conjunction with the issuance of the 2020 Notes, the Company recorded a discount of approximately $10.2 million to be amortized over the remaining life of the 2020 Notes using the effective interest method. The remaining unamortized discount was $8.4 million at June 30, 2014. In conjunction with the issuance of the additional 2020 Notes, the Company recorded a premium of approximately $11.0 million to be amortized over the remaining life of the additional 2020 Notes using the effective interest method. The remaining unamortized premium was approximately $10.3 million at June 30, 2014.
	The indenture governing the 2020 Notes contains affirmative and negative covenants that are substantially the same as those contained in the indenture governing the 9.25% senior notes, described above.
	8.0% Convertible Note
	On February 8, 2012, the Company issued the 2017 Note in the principal amount of $275.0 million together with five year warrants (February 2012 Warrants) for an aggregate purchase price of $275.0 million. The 2017 Note bears interest at a rate of 8% per annum, payable quarterly on March 31, June 30, September 30 and December 31 of each year and matures on February 8, 2017. Through the March 31, 2014 interest payment date, the Company was permitted to elect to pay the interest in kind, by adding to the principal of the 2017 Note, all or any portion of the interest due on the 2017 Note. The Company elected to pay the interest in kind on March 31, June 30 and September 30, 2012, and added $3.2 million, $5.7 million and $5.8 million of interest incurred during the first, second and third quarters of 2012, respectively, into the 2017 Note, increasing the principal amount to $289.7 million. The Company did not elect to pay-in-kind interest for the quarterly payments due subsequent to September 30, 2012. As of February 8, 2014, holders of the 2017 Note became entitled to convert at their election each $4.50 of principal and accrued but unpaid interest into one share of the Company's common stock. The 2017 Note is a senior unsecured obligation of the Company.
	The Company allocated the proceeds received for the 2017 Note and February 2012 Warrants on a relative fair value basis. Consequently, the Company recorded a discount of $43.6 million to be amortized over the remaining life of the 2017 Note utilizing the effective interest rate method. The remaining unamortized discount was $26.2 million at June 30, 2014.
	Debt Issuance Costs
	The Company capitalizes certain direct costs associated with the issuance of long-term debt and amortizes such costs over the lives of the respective debt. During the first six months of 2014, the Company expensed $0.5 million of debt issuance costs in conjunction with a decrease in the Company's borrowing base under the Senior Credit Agreement. At June 30, 2014 and December 31, 2013, the Company had approximately $59.5 million and $64.3 million, respectively, of unamortized debt issuance costs.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2014
FAIR VALUE MEASUREMENTS	'
FAIR VALUE MEASUREMENTS	'
	5. FAIR VALUE MEASUREMENTS
	Pursuant to 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 unaudited condensed 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.
	The following tables set forth by level within the fair value hierarchy the Company's financial assets and liabilities that were accounted for at fair value as of June 30, 2014 and December 31, 2013. 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 were no transfers between fair value hierarchy levels for the six months ended June 30, 2014.
		June 30, 2014
		Level 1			Level 2			Level 3		Total
		(In thousands)
	Assets
	Receivables from derivative contracts	$	—		$	694		$	—	$	694
	Liabilities
	Liabilities from derivative contracts	$	—		$	140,033		$	5,170	$	145,203
		December 31, 2013
		Level 1			Level 2			Level 3		Total
		(In thousands)
	Assets
	Receivables from derivative contracts	$	—		$	24,762		$	—	$	24,762
	Liabilities
	Liabilities from derivative contracts	$	—		$	34,376		$	2,816	$	37,192
	Derivative contracts listed above as Level 2 include collars, swaps and put options that are carried at fair value. The Company records the net change in the fair value of these positions in "Net gain (loss) on derivative contracts" in the Company's unaudited condensed 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 6, "Derivative and Hedging Activities" for additional discussion of derivatives.
	Derivative contracts listed above as Level 3 include extendable collars that are carried at fair value. The significant unobservable inputs for these Level 3 contracts include unpublished forward strip prices and market volatilities. The following table sets forth a reconciliation of changes in the fair value of the Company's extendable collar contracts classified as Level 3 in the fair value hierarchy (in thousands):
		Significant Unobservable
		Inputs (Level 3)
		June 30,			December 31,
		2014			2013
	Beginning Balance	$	(2,816	)	$	—
	Net gain (loss) on derivative contracts		(2,354	)		(2,816	)
	Settlements		—			—
	Purchase of derivative contracts		—			—
	Buy out of derivative contracts		—			—
	Ending Balance	$	(5,170	)	$	(2,816	)
	Change in unrealized gains (losses) included in earnings related to derivatives still held at June 30, 2014 and December 31, 2013	$	(2,354	)	$	(2,816	)
	As of June 30, 2014 and December 31, 2013, the Company's derivative contracts were with major financial institutions with investment grade credit ratings which are believed to have a minimal credit risk. As such, the Company is exposed to credit risk to the extent of nonperformance by the counterparties in the derivative contracts; however, the Company does not anticipate such nonperformance. Each of the counterparties to the Company's current derivative contracts is a lender or an affiliate of a lender in the Company's Senior Credit Agreement. The Company did not post collateral under any of these contracts as they are secured under the Senior Credit Agreement.
	The following disclosure of the estimated fair value of financial instruments is 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 Senior Credit Agreement approximates carrying value because the interest rates approximate current market rates. The following table presents the estimated fair values of the Company's fixed interest rate, long-term debt instruments as of June 30, 2014 and December 31, 2013 (excluding discounts, premiums and deferred premiums on derivative contracts):
		June 30, 2014						December 31, 2013
	Debt	Carrying			Estimated			Carrying		Estimated
		Amount			Fair Value			Amount		Fair Value
		(In thousands)
	9.25% $400 million senior notes	$	400,000		$	437,000		$	400,000	$	407,432
	8.875% $1.35 billion senior notes		1,350,000			1,454,625			1,350,000		1,390,500
	9.75% $1.15 billion senior notes		1,150,000			1,263,563			1,150,000		1,197,438
	8.0% $289.7 million convertible note		289,669			538,709			289,669		368,418
		$	3,189,669		$	3,693,897		$	3,189,669	$	3,363,788
	The fair value of the Company's fixed interest debt instruments was calculated using Level 2 criteria at June 30, 2014 and December 31, 2013. The fair value of the Company's senior notes is based on quoted market prices from trades of such debt. The fair value of the Company's convertible note is based on published market prices and risk-free rates.
	On June 16, 2014, the Company entered into a transaction to develop its Tuscaloosa Marine Shale assets with credit funds and accounts managed by affiliates of Apollo Global Management, LLC. See Note 9, "Mezzanine Equity," for a discussion of the valuation approach used to allocate the investment proceeds to the transaction's components and the classification of the estimate within the fair value hierarchy.
	The Company follows the provisions of ASC 820, for nonfinancial assets and liabilities measured at fair value on a non-recurring basis. These provisions apply to the Company's initial recognition of asset retirement obligations for which fair value is used. The asset retirement obligation estimates are derived from historical costs and management's expectation of future cost environments; and therefore, the Company has designated these liabilities as Level 3. See Note 7, "Asset Retirement Obligations," for a reconciliation of the beginning and ending balances of the liability for the Company's asset retirement obligations.

DERIVATIVE_AND_HEDGING_ACTIVIT

DERIVATIVE AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2014
DERIVATIVE AND HEDGING ACTIVITIES	'
DERIVATIVE AND HEDGING ACTIVITIES	'
	6. DERIVATIVE AND HEDGING ACTIVITIES
	The Company is exposed to certain risks relating to its ongoing business operations, such as commodity price risk and interest rate risk. Derivative contracts are utilized to economically 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 generally hedges a substantial, but varying, portion of anticipated oil and natural gas production for future periods. Derivatives are carried at fair value on the unaudited condensed consolidated balance sheets as assets or liabilities, with the changes in the fair value included in the unaudited condensed consolidated statements of operations for the period in which the change occurs. Historically, the Company has also entered into interest rate swaps to mitigate exposure to market rate fluctuations. The Company does not enter into derivative contracts for speculative trading purposes.
	It is the Company's policy to enter into derivative contracts, including interest rate derivatives, only with counterparties that are creditworthy financial institutions deemed by management as competent and competitive market makers. Each of the counterparties to the Company's current derivative contracts is a lender or an affiliate of a lender in its Senior Credit Agreement. The Company did not post collateral under any of these contracts as they are secured under the Company's Senior Credit Agreement.
	At June 30, 2014 and December 31, 2013, the Company's crude oil and natural gas derivative positions consisted of swaps, swaptions, costless put/call "collars," extendable costless collars and put options. 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. Extendable collars are costless put/call contracts that may be extended annually at the option of the counterparty on a designated date. 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. Swaptions are swap contracts that may be extended annually at the option of the counterparty on a designated date. The Company has elected not to designate any of its derivative contracts for hedge accounting. Accordingly, 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 "Net gain (loss) on derivative contracts" on the unaudited condensed consolidated statements of operations.
	At June 30, 2014, the Company had 107 open commodity derivative contracts summarized in the following tables: 11 natural gas collar arrangements, 69 crude oil collar arrangements, 15 crude oil swaps, one crude oil put option, one crude oil call option, eight crude oil swaptions and two crude oil extendable collars.
	At December 31, 2013, the Company had 86 open commodity derivative contracts summarized in the following tables: 10 natural gas collar arrangements, 52 crude oil collar arrangements, five crude oil three-way collars, one crude oil put option, eight crude oil swaps, eight crude oil swaptions and two crude oil extendable collars.
	All derivative contracts are recorded at fair market value in accordance with ASC 815 and ASC 820 and included in the unaudited condensed consolidated balance sheets as assets or liabilities. The following table summarizes the location and fair value amounts of all derivative contracts in the unaudited condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013:
				Asset derivative								Liability derivative
				contracts								contracts
	Derivatives not	Balance sheet		June 30,			December 31,			Balance sheet		June 30,			December 31,
	designated as			2014			2013					2014			2013
	hedging contracts
	under ASC 815
				(In thousands)								(In thousands)
	Commodity contracts	Current assets—receivables from derivative contracts		$	343		$	2,028		Current liabilities—liabilities from derivative contracts		$	(79,844	)	$	(17,859	)
	Commodity contracts	Other noncurrent assets—receivables from derivative contracts			351			22,734		Other noncurrent liabilities—liabilities from derivative contracts			(65,359	)		(19,333	)
	Total derivatives not designated as hedging contracts under ASC 815			$	694		$	24,762				$	(145,203	)	$	(37,192	)
	The following table summarizes the location and amounts of the Company's realized and unrealized gains and losses on derivative contracts in the Company's unaudited condensed consolidated statements of operations:
				Amount of gain or						Amount of gain or
				(loss) recognized in						(loss) recognized in
				income on						income on
				derivative contracts						derivative contracts
				for the Three						for the Six
				Months Ended						Months Ended
		Location of gain or (loss)		June 30,						June 30,
		recognized in income on
	Derivatives not designated as	derivative contracts		2014			2013			2014			2013
	hedging contracts under ASC 815
				(In thousands)						(In thousands)
	Commodity contracts:
	Unrealized gain (loss) oncommodity contracts	Other income (expenses)—net gain (loss) on derivative contracts		$	(105,897	)	$	34,515		$	(132,813	)	$	17,716
	Realized gain (loss) on commodity contracts	Other income (expenses)—net gain (loss) on derivative contracts		$	(15,145	)	$	(415	)	$	(21,885	)		(2,038	)
	Total net gain (loss) on derivative contracts	Other income (expenses)—net gain (loss) on derivative contracts		$	(121,042	)	$	34,100		$	(154,698	)	$	15,678
	At June 30, 2014 and December 31, 2013, the Company had the following open crude oil and natural gas derivative contracts:
						June 30, 2014
									Floors					Ceilings					Put Options						Call Options
	Period	Instrument		Commodity		Volume in			Price /		Weighted			Price /		Weighted			Price /			Weighted			Price /		Weighted
						Mmbtu's/			Price Range		Average			Price Range		Average			Price Range			Average			Price Range		Average
						Bbl's					Price					Price						Price					Price
	July 2014 - December 2014	Call		Crude Oil			184,000																		$	95	$	95
	July 2014 - December 2014	Collars		Crude Oil			4,738,000		85.00 - 95.00			88.83		92.50 - 108.45			96.58
	July 2014 - December 2014	Collars		Natural Gas			6,900,000		3.75 - 4.00			3.87		4.26 - 4.55			4.36
	July 2014 - December 2014	Put		Crude Oil			184,000													90			90
	July 2014 - December 2014	Swaps		Crude Oil			276,000		96.00 - 96.17			96.11
	January 2015 - June 2015	Collars		Crude Oil			1,583,750		85.00 - 90.00			86.29		91.00 - 98.50			93.14
	January 2015 - December 2015	Collars		Natural Gas			6,387,500		4			4		4.55 - 4.85			4.68
	January 2015 - December 2015(1)	Collars		Crude Oil			6,205,000		82.50 - 90.00			86.47		90.00 - 100.25			94.39
	January 2015 - December 2015(2)	Swaps		Crude Oil			1,825,000		91.00 - 92.75			91.76
	March 2015 - December 2015	Collars		Crude Oil			306,000		87.5			87.5		92.5			92.5
	April 2015 - December 2015	Collars		Crude Oil			412,500		87.5			87.5		92.5			92.5
	July 2015 - December 2015	Collars		Crude Oil			1,104,000		85.00 - 87.50			85.83		90.00 - 92.50			90.92
	January 2016 - June 2016	Collars		Crude Oil			182,000		90			90		96.85			96.85
	January 2016 - December 2016	Collars		Crude Oil			1,830,000		87.50 - 90.00			88.55		92.70 - 95.10			93.84
	January 2016 - December 2016	Collars		Natural Gas			732,000		4			4		4.22			4.22
	January 2016 - December 2016(3)	Swaps		Crude Oil			2,928,000		88.00 - 91.50			89.04
	-1
	Includes an outstanding crude oil collar which may be extended at a floor of $85.00 per Bbl and a ceiling of $96.20 per Bbl for a total of 732,000 Bbls for the year ended December 31, 2016. Also includes an outstanding crude oil collar which may be extended at a floor of $85.00 per Bbl and a ceiling of $96.00 per Bbl for a total of 366,000 Bbls for the year ended December 31, 2016.
	-2
	Includes an outstanding crude oil swap of which may be extended at a price of $91.25 per Bbl for 732,000 Bbls for the year ended December 31, 2016. Also includes certain outstanding crude oil swaps which may be extended at a price of $91.00 per Bbl totaling 366,000 Bbls for the year ended December 31, 2016.
	-3
	Includes an outstanding crude oil swap which may be extended at a price of $88.25 per Bbl for a total of 730,000 Bbls for the year ended December 31, 2017. Also includes certain outstanding crude oil swaps which may be extended at a price of $88.00 per Bbl totaling 912,500 Bbls for the year ended December 31, 2017. Includes an outstanding crude oil swap which may be extended at a price of $88.87 per Bbl totaling 547,500 Bbls for the year ended December 31, 2017.
						December 31, 2013
									Floors						Ceilings						Put Options
Period	Instrument		Commodity		Volume in			Price /			Weighted			Price /			Weighted			Price /			Weighted
					Mmbtu's/			Price Range			Average			Price Range			Average			Price Range			Average
					Bbl's						Price						Price						Price
January 2014 - March 2014	Three-Way Collars		Crude Oil			144,000		$	95		$	95		$	98.60 - 109.50		$	100.03		$	70		$	70
January 2014 - June 2014	Collars		Crude Oil			724,000			90			90			96.50 - 99.50			98
January 2014 - December 2014	Collars		Crude Oil			7,573,750			85.00 - 95.00			88.67			93.60 - 108.45			96.22
January 2014 - December 2014	Collars		Natural Gas			11,862,500			3.75 - 4.00			3.85			4.26 - 4.55			4.35
April 2014 - June 2014	Three-Way Collars		Crude Oil			136,500			95			95			98.20 - 101.00			99.13			70			70
July 2014 - December 2014	Collars		Crude Oil			920,000			87.50 - 90.00			89.5			92.50 - 100.25			97.87
July 2014 - December 2014	Collars		Natural Gas			920,000			4			4			4.42			4.42
July 2014 - December 2014	Put		Crude Oil			184,000															90			90
January 2015 - June 2015	Collars		Crude Oil			1,583,750			85.00 - 90.00			86.29			91.00 - 98.50			93.14
January 2015 - December 2015(1)	Collars		Crude Oil			5,110,000			82.50 - 90.00			86.07			90.00 - 100.25			94.65
January 2015 - December 2015	Collars		Natural Gas			6,387,500			4			4			4.55 - 4.85			4.68
January 2015 - December 2015(2)	Swaps		Crude Oil			1,095,000			91.00 - 91.25			91.17
January 2016 - December 2016(3)	Swaps		Crude Oil			2,190,000			88.00 - 88.87			88.3
-1
Includes an outstanding crude oil collar which may be extended at a floor of $85.00 per Bbl and a ceiling of $96.20 per Bbl for a total of 730,000 Bbls for the year ended December 31, 2016. Also includes an outstanding crude oil collar which may be extended at a floor of $85.00 per Bbl and a ceiling of $96.00 per Bbl for a total of 365,000 Bbls for the year ended December 31, 2016.
-2
Includes an outstanding crude oil swap which may be extended at a price of $91.25 per Bbl for 730,000 Bbls for the year ended December 31, 2016. Also includes certain outstanding crude oil swaps which may be extended at a price of $91.00 per Bbl totaling 365,000 Bbls for the year ended December 31, 2016.
-3
Includes an outstanding crude oil swap which may be extended at a price of $88.25 per Bbl for a total of 730,000 Bbls for the year ended December 31, 2017. Also includes certain outstanding crude oil swaps which may be extended at a price of $88.00 per Bbl totaling 912,500 Bbls for the year ended December 31, 2017. Includes an outstanding crude oil swap which may be extended at a price of $88.87 per Bbl totaling 547,500 Bbls for the year ended December 31, 2017.
The Company presents the fair value of its derivative contracts at the gross amounts in the unaudited condensed consolidated balance sheets. The following table shows the potential effects of master netting arrangements on the fair value of the Company's derivative contracts at June 30, 2014 and December 31, 2013:
	Derivative Assets						Derivative Liabilities
Offsetting of Derivative Assets and Liabilities	June 30,			December 31,			June 30,			December 31,
	2014			2013			2014			2013
	(In thousands)						(In thousands)
Gross Amounts Presented in the Consolidated Balance Sheet	$	694		$	24,762		$	(145,203	)	$	(37,192	)
Amounts Not Offset in the Consolidated Balance Sheet		(694	)		(20,036	)		675			19,507
Net Amount	$	—		$	4,726		$	(144,528	)	$	(17,685	)
The Company enters into an International Swap Dealers Association Master Agreement (ISDA) with each counterparty prior to a derivative contract with such counterparty. The ISDA is a standard contract that governs all derivative contracts entered into between the Company and the respective counterparty. The ISDA allows for offsetting of amounts payable or receivable between the Company and the counterparty, at the election of both parties, for transactions that occur on the same date and in the same currency.

ASSET_RETIREMENT_OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	6 Months Ended
	Jun. 30, 2014
ASSET RETIREMENT OBLIGATIONS	'
ASSET RETIREMENT OBLIGATIONS	'
	7. ASSET RETIREMENT OBLIGATIONS
	The Company records an asset retirement obligation (ARO) when it can reasonably estimate the fair value of an obligation to perform site reclamation, dismantle facilities or plug and abandon costs. For gas gathering systems and equipment, the Company records an ARO when the system is placed in service and it can reasonably estimate the fair value of an obligation to perform site reclamation and other necessary work when it is required. The Company records the ARO liability on the unaudited condensed consolidated balance sheets and capitalizes a portion of the cost in "Oil and natural gas properties" or "Other operating property and equipment" during the period in which the obligation is incurred. The Company records the accretion of its ARO liabilities in "Depletion, depreciation and accretion" expense in the unaudited condensed consolidated statements of operations. The additional capitalized costs are depreciated on a unit-of-production basis or straight-line basis.
	The Company recorded the following activity related to its ARO liability for the six months ended June 30, 2014 (in thousands, inclusive of the current portion):
	Liability for asset retirement obligations as of December 31, 2013	$	39,257
	Liabilities settled and divested(1)		(8,039	)
	Additions		1,988
	Acquisitions		105
	Accretion expense		948
	Revisions in estimated cash flows		155
	Liability for asset retirement obligations as of June 30, 2014	$	34,414
	-1
	See Note 2, "Acquisitions and Divestitures" for additional information on the Company's divestiture activities.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2014
COMMITMENTS AND CONTINGENCIES	'
COMMITMENTS AND CONTINGENCIES	'
	8. COMMITMENTS AND CONTINGENCIES
	Commitments
	The Company leases corporate office space in Houston, Texas; Tulsa, Oklahoma; and Denver, Colorado as well as a number of other field office locations. Rent expense was approximately $4.0 million and $4.4 million for the six months ended June 30, 2014 and 2013, respectively. In addition, the Company has commitments for certain equipment under long-term operating lease agreements, namely drilling rigs as well as pipeline and well equipment, with various expiration dates through 2017. Early termination of the drilling rig commitments would result in termination penalties approximating $39.2 million, which would be in lieu of the remaining $73.1 million of drilling rig commitments as of June 30, 2014. As of June 30, 2014, the amount of commitments under office and equipment lease agreements is consistent with the levels at December 31, 2013, as disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013, approximating $66.1 million in the aggregate, and containing various expiration dates through 2024.
	The Company has entered into various long-term gathering, transportation and sales contracts in its Bakken / Three Forks formations in North Dakota. As of June 30, 2014, the Company had in place nine long-term crude oil contracts and two long-term natural gas contracts in this area. Under the terms of these contracts, the Company has committed a substantial portion of its Bakken / Three Forks production for periods ranging from five to ten years from the date of first production. The sales prices under these contracts are based on posted market rates. The Company believes that there are sufficient available reserves and supplies in the Bakken / Three Forks formations to meet its commitments. Historically, the Company has been able to meet its delivery commitments.
	On December 20, 2013, the Company entered into a carry and earning agreement, as amended (the Agreement) with an independent third party (Seller) associated with the acquisition of certain properties believed to be prospective for the TMS, primarily in Wilkinson County, Mississippi and in West Feliciana and East Feliciana Parishes, Louisiana. The Agreement requires the Company to fund up to $189.4 million (the Carry Amount) in exchange for approximately 117,870 net acres. The Company paid $62.5 million of the Carry Amount at closing on February 28, 2014 and the remaining $126.9 million during the three months ended June 30, 2014, reflected as "Advance on carried interest" in the accompanying unaudited condensed consolidating statements of cash flows. The Carry Amount is to be used by the Seller to fund wells prospective for the TMS to be drilled by the Seller (the Carry Wells) on the Seller's retained acreage. As part of the transaction, the Company will also receive a 5% working interest in the Carry Wells. Any portion of the Carry Amount not spent by the Seller, in accordance with the Agreement, on or before August 31, 2017, shall be returned to the Company.
	On June 16, 2014, the Company entered into a transaction to develop its Tuscaloosa Marine Shale assets with credit funds and accounts managed by affiliates of Apollo Global Management, LLC. See Note 9, "Mezzanine Equity," for a discussion of the drilling obligation associated with the transaction.
	Contingencies
	From time to time, the Company may be a plaintiff or defendant in a pending or threatened legal proceeding arising in the normal course of its business. While the outcome and impact of currently pending legal proceedings cannot be determined, the Company's management and legal counsel believe that the resolution of these proceedings through settlement or adverse judgment will not have a material effect on the Company's unaudited condensed consolidated operating results, financial position or cash flows.

MEZZANINE_EQUITY

MEZZANINE EQUITY	6 Months Ended
	Jun. 30, 2014
MEZZANINE EQUITY	'
MEZZANINE EQUITY	'
	9. MEZZANINE EQUITY
	On June 16, 2014, credit funds and accounts managed by affiliates of Apollo Global Management, LLC (Apollo) contributed $150 million in cash to HK TMS, LLC, a wholly owned Delaware limited liability company (HK TMS), that, as of June 16, 2014 holds all of the Company's undeveloped acreage in Mississippi and Louisiana that management believes is prospective for the Tuscaloosa Marine Shale (TMS) formation, in exchange for the issuance by HK TMS of 150,000 preferred shares. At the closing, the Company also contributed $50 million in cash to HK TMS, LLC. Holders of the HK TMS preferred shares will receive quarterly cash dividends of 8% cumulative perpetual per annum, subject to HK TMS' option to pay such dividends "in-kind" through the issuance of additional preferred shares. The preferred shares will be automatically redeemed and cancelled when the holders receive cash dividends and distributions on the preferred shares equating to the greater of a 12% annual rate of return plus principal and 1.25 times their investment plus applicable fees ("the Redemption Price"), subject to adjustment under certain circumstances. The preferred shares have a liquidation preference in the event of dissolution in an amount equal to the redemption price plus any unpaid dividends not otherwise included in the calculation of the redemption price through the date of liquidation payment. If the preferred shares remain outstanding after June 16, 2018 Apollo can require HK TMS to redeem the preferred shares at the Redemption Price. HK TMS may also redeem the preferred shares at any time by paying the redemption price, or may be required to redeem the preferred shares for the Redemption Price plus penalties under certain circumstances. The preferred shares have been classified as "Redeemable noncontrolling interest" and included in "Mezzanine equity" between total liabilities and shareholders' equity on the unaudited condensed consolidated balance sheets pursuant to ASC 480-10-S99-3A. The preferred interests, while not currently redeemable, are considered probable of becoming redeemable and therefore will be subsequently remeasured each reporting period by accreting the initial value to the estimated required redemption value through June 16, 2018. In accordance with ASC 480-10-S99-3A, an adjustment to the carrying amount presented in mezzanine equity will be recognized as charges against retained earnings and will reduce income available to common shareholders in the calculation of earnings per share. Adjustments to the carrying amount may not be necessary if the application of ASC 810 results in a noncontrolling interest balance in excess of what is required pursuant to ASC 480-10-S99-3A.
	Under certain circumstances, Apollo may acquire up to an additional 250,000 preferred shares of HK TMS on the same terms, with HK TMS receiving up to an additional $250 million in cash proceeds (Tranche Rights). The Tranche Rights have been recognized separately as a liability instrument within "Other noncurrent liabilities" in the unaudited condensed consolidated balance sheets, in accordance with ASC 480 as the shares underlying the Tranche Rights are redeemable equity instruments. The Tranche Rights will be subsequently remeasured at fair value each reporting period in accordance with ASC 480.
	In conjunction with the issuance of the preferred shares, HK TMS conveyed a 4.0% overriding royalty interest (ORRI), subject to reduction to 2.0% under certain circumstances, in 75 net wells to be drilled and completed on its TMS acreage. The number of wells subject to the ORRI will increase to the extent that Apollo subscribes for additional preferred shares, with a maximum of 200 net operated wells subject to such ORRI if Apollo subscribes for the full additional 250,000 preferred shares. The ORRI has been recognized separately as a conveyance of oil and natural gas properties from "Unevaluated properties" on the unaudited condensed consolidated balance sheets and within "Proceeds received from the sale of oil and natural gas assets" on the unaudited condensed consolidated statements of cash flows. The Company has committed to drill a minimum of 6.5 net wells in each of the six consecutive twelve month periods beginning June 16, 2014.
	Of the $150 million initial investment proceeds from Apollo, the Company allocated the proceeds as follows (in thousands):
	HK TMS, LLC preferred stock	$	110,051
	Tranche rights		4,516
	Overriding royalty interest		34,576
	Other		857
	Total initial investment proceeds	$	150,000
	For purposes of estimating the fair values of the transaction components, an income approach was used that estimated fair value based on the anticipated cash flows associated with the Company's proved reserves, discounted using a weighted average cost of capital rate. The estimation of the fair value of these components includes the use of unobservable inputs, such as estimates of proved reserves, the weighted average cost of capital (discount rate), estimated future revenues, and estimated future capital and operating costs. The use of these unobservable inputs results in the fair value estimates being classified as Level 3. Although the Company believes the assumptions and estimates used in the fair value calculation of the transaction components are reasonable and appropriate, different assumptions and estimates could materially impact the analysis and resulting conclusions. The assumptions used in estimating the fair value of the transaction components are inherently uncertain and require management judgment.
	As part of the transaction, HK TMS is required to maintain a minimum cash balance equal to two quarterly dividend payments, of $3.0 million each, plus $10.0 million, which is presented on the unaudited condensed consolidated balance sheets in "Restricted cash."
	The Company recorded the following activity related to the preferred shares recorded in "Mezzanine equity" for the six months ended June 30, 2014 (in thousands, except per share amounts):
		Redeemable
		noncontrolling interest
		(Mezzanine equity)
		Shares		Amount
	Balances at December 31, 2013		—	$	—
	Issuance of HK TMS, LLC preferred stock		150,000		110,051
	Offering costs		—		(2,416	)
	Deemed dividends on redeemable noncontrolling interest		—		403
	Balances at June 30, 2014		150,000	$	108,038

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2014
STOCKHOLDERS' EQUITY	'
STOCKHOLDERS' EQUITY	'
	10. STOCKHOLDERS' EQUITY
	5.75% Series A Convertible Perpetual Preferred Stock
	On June 18, 2013, the Company completed its offering of 345,000 shares of its 5.75% Series A Convertible Perpetual Preferred Stock (the Series A Preferred Stock) at a public offering price of $1,000 per share (the Liquidation Preference). The net proceeds to the Company were approximately $335.2 million, after deducting the underwriting discount and offering expenses. The Company used the net proceeds to repay a portion of the outstanding borrowings under its Senior Credit Agreement.
	Holders of the Series A Preferred Stock are entitled to receive, when, as and if declared by the Company's Board of Directors, cumulative dividends at the rate of 5.75% per annum (the dividend rate) on the Liquidation Preference per share of the Series A Preferred Stock, payable quarterly in arrears on each dividend payment date. Dividends may be paid in cash or, where freely transferable by any non-affiliate recipient thereof, in common stock of the Company, or a combination thereof, and are payable on March 1, June 1, September 1 and December 1 of each year. On June 2, 2014, the Company paid cumulative, declared dividends of $5.0 million by issuing approximately 0.9 million shares of common stock. As of June 30, 2014, cumulative, undeclared dividends on the Series A Preferred Stock amounted to approximately $1.7 million.
	The Series A Preferred Stock has no maturity date, is not redeemable by the Company at any time, and will remain outstanding unless converted by the holders or mandatorily converted by the Company. Each share of Series A Preferred Stock is convertible, at the holder's option at any time, into approximately 162.4431 shares of common stock of the Company (which is equivalent to a conversion price of approximately $6.16 per share), subject to specified adjustments as set forth in the Series A Designation. Based on the initial conversion rate, approximately 56.0 million shares of common stock of the Company would be issuable upon conversion of all the shares of Series A Preferred Stock. On or after June 6, 2018, the Company may, at its option, give notice of its election to cause all outstanding shares of the Series A Preferred Stock to be automatically converted into shares of common stock of the Company at the conversion rate (as defined in the Series A Designation), if the closing sale price of the Company's common stock equals or exceeds 150% of the conversion price for at least 20 trading days in a period of 30 consecutive trading days.
	If the Company undergoes a fundamental change (as defined in the Series A Designation) and a holder converts its shares of the Series A Preferred Stock at any time beginning at the opening of business on the trading day immediately following the effective date of such fundamental change and ending at the close of business on the 30th trading day immediately following such effective date, the holder will receive, for each share of the Series A Preferred Stock surrendered for conversion, a number of shares of common stock of the Company equal to the greater of: (1) the sum of (i) the conversion rate and (ii) the make-whole premium, if any, as described in the Series A Designation; and (2) the conversion rate which will be increased to equal (i) the sum of the $1,000 liquidation preference plus all accumulated and unpaid dividends to, but excluding, the settlement date for such conversion, divided by (ii) the average of the closing sale prices of the Company's common stock for the five consecutive trading days ending on the third business day prior to such settlement date; provided that the prevailing conversion rate as adjusted pursuant to this will not exceed 292.3977 shares of common stock of the Company per share of the Series A Preferred Stock (subject to adjustment in the same manner as the conversion rate).
	Except as required by Delaware law, holders of the Series A Preferred Stock will have no voting rights unless dividends are in arrears and unpaid for six or more quarterly periods. Until such arrearage is paid in full, the holders (voting as a single class with the holders of any other preferred shares having similar voting rights) will be entitled to elect two additional directors and the number of directors on the Company's Board of Directors will increase by that same number.
	Common Stock
	On May 22, 2014, with stockholder approval, the Company filed a Certificate of Amendment of the Amended and Restated Certificate of Incorporation with the Delaware Secretary of State to increase its authorized common stock by approximately 670.0 million shares for a total of 1.34 billion authorized shares of common stock.
	On August 13, 2013, the Company completed the issuance and sale of 43.7 million shares of its common stock in an underwritten public offering. The shares of common stock sold have been registered under the Securities Act pursuant to a Registration Statement on Form S-3 (No. 333-188640), which was filed with the SEC and became automatically effective on May 16, 2013. The net proceeds to the Company from the offering of common stock were approximately $215.2 million, after deducting the underwriting discount and estimated offering expenses. The Company used the net proceeds from the offering to repay a portion of the then outstanding borrowings under its Senior Credit Agreement.
	On January 17, 2013, with stockholder approval, the Company filed a Certificate of Amendment of the Amended and Restated Certificate of Incorporation with the Delaware Secretary of State to increase its authorized common stock by approximately 333.3 million shares for a total of 670.0 million authorized shares of common stock.
	Warrants
	In February 2012, in conjunction with the issuance of the 2017 Notes, the Company issued warrants to purchase 36.7 million shares of the Company's common stock at an exercise price of $4.50 per share of common stock, which the Company refers to as the February 2012 Warrants. The Company allocated $43.6 million to the February 2012 Warrants which is reflected in additional paid-in capital in stockholders' equity, net of $0.6 million in issuance costs. The February 2012 Warrants entitle the holders to exercise the warrants in whole or in part at any time prior to the expiration date of February 8, 2017.
	In August 2012, as part of the Company's acquisition of GeoResources by merger, the Company assumed outstanding GeoResources common stock warrants. At the date of the merger 0.6 million GeoResources warrants were outstanding and were converted to 1.2 million Halcón warrants (the August 2012 Warrants). Each GeoResources warrant was converted into an August 2012 Warrant to acquire one share of Halcón common stock (Share Portion) at an exercise price of $8.40 per share of common stock and the right to receive $20 in cash per equivalent assumed share (Cash Portion) at an exercise price of $0.82 per $1.00 received. The August 2012 Warrants contained substantially the same terms of the original GeoResources warrants with adjustments to the exercise price and addition of the Cash Portion to reflect the impact of the consideration per share in the merger. The August 2012 Warrants expired on June 9, 2013. The August 2012 Warrants were reflected as a current liability in the unaudited condensed consolidated balance sheets at March 31, 2013 and were recorded at fair value. Changes in fair value were recognized in "Interest expense and other, net" in the unaudited condensed consolidated statements of operations.
	Incentive Plan
	On May 8, 2006, the Company's stockholders first approved its 2006 Long-Term Incentive Plan (the Plan). On May 23, 2013, shareholders last approved an increase in authorized shares under the Plan from 11.5 million to 41.5 million. As of June 30, 2014 and December 31, 2013, a maximum of 13.2 million and 25.7 million shares of common stock, respectively, remained reserved for issuance under the Plan.
	The Company accounts for share-based payment accruals under authoritative guidance on stock compensation, as set forth in ASC Topic 718. The guidance requires all share-based payments to employees and directors, including grants of performance units, stock options, and restricted stock, to be recognized in the financial statements based on their fair values.
	For the three and six months ended June 30, 2014, the Company recognized $4.9 million and $9.2 million, respectively, of share-based compensation expense as a component of "General and administrative" on the unaudited condensed consolidated statements of operations. For the three and six months ended June 30, 2013, the Company recognized $4.6 million and $7.0 million, respectively, of share-based compensation expense.
	Performance Share Units
	During the three months ended March 31, 2014, the Company granted performance share units (PSU) under the Plan covering 1.6 million shares of common stock to senior management of the Company. The PSU provide that the number of shares of common stock received upon vesting will vary if the market price of the Company's common stock exceeds certain pre-established target thresholds as measured by the average of the adjusted closing price of a share of the Company's common stock during the sixty trading days preceding the third anniversary of issuance, or the measurement date. The PSU utilize $4.00 as the floor price, below which the PSU will not vest and will expire. If the average market price at the measurement date is equal to $4.00, the PSU will vest and represent the right to receive 50% of the number of shares of common stock underlying the PSU. At $7.00, the PSU will vest and represent the right to receive the full number of shares of common stock underlying the PSU; and at $10.00, the PSU will vest and represent the right to receive 200% of the number of shares of common stock underlying the PSU. All stock price targets are subject to customary adjustments based upon changes in the Company's capital structure. In the event the average market price falls between targeted price thresholds, the PSU will represent the right to receive a proportionate number of shares, e.g., 75% of the number of shares of common stock underlying the PSU if the average market price at such time is $5.50, 150% of the number of shares of common stock underlying the PSU if the average market price at such time is $8.50, and so forth. The Company has reserved for issuance under the Plan the maximum number of shares that participants might have the right to receive upon vesting of the PSU, or 3.2 million shares of common stock. At June 30, 2014, the Company had $4.4 million of unrecognized compensation expense related to non-vested PSU to be recognized over a weighted-average period of 2.7 years.
	Stock Options
	During the six months ended June 30, 2014, the Company granted stock options under the Plan covering 6.2 million shares of common stock to employees of the Company. The stock options have exercise prices ranging from $3.67 to $6.58 with a weighted average exercise price of $3.69. These awards typically vest over a three year period at a rate of one-third on the annual anniversary date of the grant and expire ten years from the grant date. At June 30, 2014, the Company had $16.9 million of unrecognized compensation expense related to non-vested stock options to be recognized over a weighted-average period of 1.3 years.
	During the six months ended June 30, 2013, the Company granted stock options under the Plan covering 6.1 million shares of common stock to employees of the Company. The stock options have exercise prices ranging from $5.21 to $8.23 with a weighted average exercise price of $7.10. These awards typically vest over a three year period at a rate of one-third on the annual anniversary date of the grant and expire ten years from the grant date. At June 30, 2013, the Company had $19.5 million of unrecognized compensation expense related to non-vested stock options to be recognized over a weighted-average period of 1.5 years.
	Restricted Stock
	During the six months ended June 30, 2014, the Company granted 3.9 million shares of restricted stock under the Plan to directors and employees of the Company. These restricted shares were granted at prices ranging from $3.67 to $6.58 with a weighted average price of $3.84. Employee shares vest over a three year period at a rate of one-third on the annual anniversary date of the grant, and the non-employee directors' shares vest six-months from the date of grant. At June 30, 2014, the Company had $17.9 million of unrecognized compensation expense related to non-vested restricted stock awards to be recognized over a weighted-average period of 1.4 years.
	During the six months ended June 30, 2013, the Company granted 3.2 million shares of restricted stock under the Plan to directors and employees of the Company. These restricted shares were granted at prices ranging from $5.15 to $7.65 with a weighted average price of $6.92. Employee shares vest over a three year period at a rate of one-third on the annual anniversary date of the grant, and the non-employee directors' shares vest six-months from the date of grant. At June 30, 2013, the Company had $18.1 million of unrecognized compensation expense related to non-vested restricted stock awards to be recognized over a weighted-average period of 1.5 years.
	Treasury Stock
	During the six months ended June 30, 2013, the Company granted 3.2 million shares of restricted stock under the Plan to directors and employees of the Company of which 1.2 million shares were issued out of treasury stock. In addition, the Company retired 0.4 million shares from treasury stock representing shares that were repurchased for taxes tendered upon vesting of stock based compensation awards in prior years. As of June 30, 2013, the Company had no issued shares held in treasury.

INCOME_TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2014
INCOME TAXES	'
INCOME TAXES	'
	11. INCOME TAXES
	Under guidance contained in Topic 740 of the ASC, deferred taxes are determined by applying the provisions of enacted tax laws and rates for the jurisdictions in which the Company operates to the estimated future tax effects of the differences between the tax basis of assets and liabilities and their reported amounts in the Company's financial statements. A valuation allowance is established to reduce deferred tax assets if it is more likely than not that the related tax benefits will not be realized.
	In assessing the need for a valuation allowance on the Company's deferred tax assets, the Company considers possible sources of taxable income that may be available to realize the benefit of deferred tax assets, including projected future taxable income, the reversal of existing temporary differences, taxable income in carryback years and available tax planning strategies. The Company considers all available evidence (both positive and negative) in determining whether a valuation allowance is required. A significant item of objective negative evidence considered was the cumulative three-year book loss driven primarily by ceiling test write-downs in 2013. Based upon the evaluation of the available evidence the Company continued to record a valuation allowance against its net deferred tax assets as of June 30, 2014.
	The Company recorded no income tax expense or benefit on a pre-tax loss of $140.4 million for the six months ended June 30, 2014 due to the valuation allowance. For the six months ended June 30, 2013, the Company recorded a tax provision of $26.4 million on pre-tax income of $69.0 million. The effective tax rate for the six months ended June 30, 2014 was 0.0% compared to 38.3% for the six months ended June 30, 2013. The significant difference in the effective tax rate is due to the full valuation allowance that was established during the fourth quarter of 2013.
	During the first quarter of 2014, the Internal Revenue Service commenced an audit of GeoResources, Inc.'s tax returns for the tax years ending December 31, 2010 through August 1, 2012. The audit is ongoing as of the date of this filing.

EARNINGS_PER_COMMON_SHARE

EARNINGS PER COMMON SHARE	6 Months Ended
	Jun. 30, 2014
EARNINGS PER COMMON SHARE	'
EARNINGS PER COMMON SHARE	'
	12. EARNINGS PER COMMON SHARE
	The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):
		Three Months Ended June 30,					Six Months Ended June 30,
		2014			2013		2014			2013
		(In thousands, except per share amounts)
	Basic:
	Net income (loss) available to common stockholders	$	(73,333	)	$	36,372	$	(151,256	)	$	41,837
	Weighted average basic number of common shares outstanding		414,722			366,712		414,125			356,482
	Basic net income (loss) per share of common stock	$	(0.18	)	$	0.1	$	(0.37	)	$	0.12
	Diluted:
	Net income (loss) available to common stockholders	$	(73,333	)	$	36,372	$	(151,256	)	$	41,837
	Interest on convertible debt, net		—			974		—			1,974
	Net income (loss) available to common stockholders after assumed conversions	$	(73,333	)	$	37,346	$	(151,256	)	$	43,811
	Weighted average basic number of common shares outstanding		414,722			366,712		414,125			356,482
	Common stock equivalent shares representing shares issuable upon:
	Exercise of stock options		Anti-dilutive			Anti-dilutive		Anti-dilutive			Anti-dilutive
	Exercise of February 2012 Warrants		Anti-dilutive			9,954		Anti-dilutive			12,183
	Exercise of August 2012 Warrants		—			Anti-dilutive		—			Anti-dilutive
	Vesting of restricted shares		Anti-dilutive			108		Anti-dilutive			682
	Vesting of performance units		Anti-dilutive			—		Anti-dilutive			—
	Conversion of 2017 Notes		Anti-dilutive			64,371		Anti-dilutive			32,185
	Conversion of preferred stock		—			—		—			10,880
	Conversion of Series A preferred stock		Anti-dilutive			Anti-dilutive		Anti-dilutive			Anti-dilutive
	Weighted average diluted number of common shares outstanding		414,722			441,145		414,125			412,412
	Diluted net income (loss) per share of common stock	$	(0.18	)	$	0.08	$	(0.37	)	$	0.11
	Common stock equivalents, including stock options, warrants, restricted shares, performance units, convertible debt, and preferred stock, totaling 179.9 million and 176.8 million shares for the three and six months ended June 30, 2014, respectively, were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive due to the net losses. Common stock equivalents, including stock options, warrants, restricted shares, convertible debt, and preferred stock, totaling 17.1 million and 43.9 million shares for the three and six months ended June 30, 2013, respectively, were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive.

ADDITIONAL_FINANCIAL_STATEMENT

ADDITIONAL FINANCIAL STATEMENT INFORMATION	6 Months Ended
	Jun. 30, 2014
ADDITIONAL FINANCIAL STATEMENT INFORMATION	'
ADDITIONAL FINANCIAL STATEMENT INFORMATION	'
	13. ADDITIONAL FINANCIAL STATEMENT INFORMATION
	Certain balance sheet amounts are comprised of the following:
		June 30,		December 31,
		2014		2013
		(In thousands)
	Accounts receivable:
	Oil, natural gas and natural gas liquids revenues	$	188,802	$	129,355
	Joint interest accounts		118,561		170,907
	Affiliated partnership		234		500
	Other		1,282		11,756
		$	308,879	$	312,518
	Prepaids and other:
	Prepaids	$	7,691	$	5,636
	Income tax receivable		5,403		10,404
	Other		1,085		58
		$	14,179	$	16,098
	Accounts payable and accrued liabilities:
	Trade payables	$	119,823	$	87,661
	Accrued oil and natural gas capital costs		234,940		292,472
	Revenues and royalties payable		155,927		124,222
	Accrued interest expense		82,564		82,570
	Accrued employee compensation		9,803		2,272
	Accrued lease operating expenses		25,063		21,469
	Drilling advances from partners		29,361		24,882
	Affiliated partnership		866		679
	Other		287		362
		$	658,634	$	636,589

CONDENSED_CONSOLIDATING_FINANC

CONDENSED CONSOLIDATING FINANCIAL INFORMATION	6 Months Ended
	Jun. 30, 2014
CONDENSED CONSOLIDATING FINANCIAL INFORMATION	'
CONDENSED CONSOLIDATING FINANCIAL INFORMATION	'
	14. CONDENSED CONSOLIDATING FINANCIAL INFORMATION
	The Company's senior notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by all of the Company's existing 100% owned subsidiaries, other than HK TMS. On June 16, 2014, the Company contributed undeveloped acreage in Mississippi and Louisiana that management believes is prospective for the TMS into HK TMS.
	The following condensed consolidating balance sheets, condensed consolidating statements of operations, and condensed consolidating statements of cash flows for the parent company, subsidiary guarantors on a combined basis, the non-guarantor subsidiary, the consolidating adjustments and the total consolidated amounts are presented as of June 30, 2014 and for the three and six months ended June 30, 2014. Such condensed consolidating financial information may not necessarily be indicative of the financial position, results of operations or cash flows had these subsidiaries operated as independent entities.
	CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
		Three Months Ended June 30, 2014
		Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
		Company			Subsidiaries			Subsidiary
		(In thousands)
	Operating revenues:
	Oil, natural gas and natural gas liquids sales:
	Oil	$	—		$	302,520		$	1,692		$	—		$	304,212
	Natural gas		—			10,308			—			—			10,308
	Natural gas liquids		—			9,364			—			—			9,364
	Total oil, natural gas and natural gas liquids sales		—			322,192			1,692			—			323,884
	Other		—			6,792			—			(3,532	)		3,260
	Total operating revenues		—			328,984			1,692			(3,532	)		327,144
	Operating expenses:
	Production:
	Lease operating		—			30,842			126			—			30,968
	Workover and other		—			3,988			—			—			3,988
	Taxes other than income		76			30,131			103			—			30,310
	Gathering and other		—			5,898			—			—			5,898
	General and administrative		16,534			11,071			2,276			(2,138	)		27,743
	Depletion, depreciation and accretion		605			131,736			722			407			133,470
	Other operating property and equipment impairment		—			3,477			—			—			3,477
	Total operating expenses		17,215			217,143			3,227			(1,731	)		235,854
	Income (loss) from operations		(17,215	)		111,841			(1,535	)		(1,801	)		91,290
	Other income (expenses):
	Net gain (loss) on derivative contracts		—			(121,042	)		—			—			(121,042	)
	Interest expense and other, net		(79,497	)		41,765			7			—			(37,725	)
	Total other income (expenses)		(79,497	)		(79,277	)		7			—			(158,767	)
	Income (loss) before income taxes		(96,712	)		32,564			(1,528	)		(1,801	)		(67,477	)
	Income tax benefit (provision)		—			(128	)		(562	)		690			—
	Equity in earnings of subsidiary, net of tax		28,339			(4,097	)		—			(24,242	)		—
	Net income (loss)		(68,373	)		28,339			(2,090	)		(25,353	)		(67,477	)
	Series A preferred dividends		(4,960	)		—			—			—			(4,960	)
	Preferred dividends on redeemable noncontrolling interest		—			—			(896	)		—			(896	)
	Net income (loss) available to common stockholders	$	(73,333	)	$	28,339		$	(2,986	)	$	(25,353	)	$	(73,333	)
	CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
		Six Months Ended June 30, 2014
		Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
		Company			Subsidiaries			Subsidiary
		(In thousands)
	Operating revenues:
	Oil, natural gas and natural gas liquids sales:
	Oil	$	—		$	558,549		$	1,692		$	—		$	560,241
	Natural gas		—			19,717			—			—			19,717
	Natural gas liquids		—			18,123			—			—			18,123
	Total oil, natural gas and natural gas liquids sales		—			596,389			1,692			—			598,081
	Other		—			7,744			—			(3,532	)		4,212
	Total operating revenues		—			604,133			1,692			(3,532	)		602,293
	Operating expenses:
	Production:
	Lease operating		—			67,480			126			—			67,606
	Workover and other		—			6,777			—			—			6,777
	Taxes other than income		152			54,215			103			—			54,470
	Gathering and other		—			10,659			—			—			10,659
	Restructuring		—			987			—			—			987
	General and administrative		37,259			23,144			2,276			(2,138	)		60,541
	Depletion, depreciation and accretion		1,353			250,896			722			407			253,378
	Full cost ceiling impairment		—			61,165			—			—			61,165
	Other operating property and equipment impairment		—			3,789			—			—			3,789
	Total operating expenses		38,764			479,112			3,227			(1,731	)		519,372
Income (loss) from operations		(38,764	)		125,021			(1,535	)		(1,801	)		82,921
Other income (expenses):
Net gain (loss) on derivative contracts		—			(154,698	)		—			—			(154,698	)
Interest expense and other, net		(158,095	)		89,424			7			—			(68,664	)
Total other income (expenses)		(158,095	)		(65,274	)		7			—			(223,362	)
Income (loss) before income taxes		(196,859	)		59,747			(1,528	)		(1,801	)		(140,441	)
Income tax benefit (provision)		—			(128	)		(562	)		690			—
Equity in earnings of subsidiary, net of tax		55,522			(4,097	)		—			(51,425	)		—
Net income (loss)		(141,337	)		55,522			(2,090	)		(52,536	)		(140,441	)
Series A preferred dividends		(9,919	)		—			—			—			(9,919	)
Preferred dividends on redeemable noncontrolling interest		—			—			(896	)		—			(896	)
Net income (loss) available to common stockholders	$	(151,256	)	$	55,522		$	(2,986	)	$	(52,536	)	$	(151,256	)
CONDENSED CONSOLIDATING BALANCE SHEETS
	June 30, 2014
	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
	Company			Subsidiaries			Subsidiary
	(In thousands)
Current assets:
Cash	$	—		$	357		$	160,915		$	—		$	161,272
Accounts receivable		—			301,924			9,838			(2,883	)		308,879
Receivables from derivative contracts		—			343			—			—			343
Current portion of deferred income taxes		—			9,637			—			(1,848	)		7,789
Restricted cash		—			—			16,000			—			16,000
Inventory		—			6,091			—			—			6,091
Prepaids and other		1,028			13,151			—			—			14,179
Total current assets		1,028			331,503			186,753			(4,731	)		514,553
Oil and natural gas properties (full cost method):
Evaluated		—			5,258,205			11,024			(1,394	)		5,267,835
Unevaluated		—			1,887,916			357,257			—			2,245,173
Gross oil and natural gas properties		—			7,146,121			368,281			(1,394	)		7,513,008
Less—accumulated depletion		—			(2,497,664	)		(793	)		(407	)		(2,498,864	)
Net oil and natural gas properties		—			4,648,457			367,488			(1,801	)		5,014,144
Other operating property and equipment:
Gas gathering and other operating assets		14,354			130,351			90			—			144,795
Less—accumulated depreciation		(5,228	)		(6,504	)		(4	)		—			(11,736	)
Net other operating property and equipment		9,126			123,847			86			—			133,059
Other noncurrent assets:
Receivables from derivative contracts		—			351			—			—			351
Debt issuance costs, net		59,476			—			—			—			59,476
Intercompany notes and accounts receivable		4,743,524			210,232			—			(4,953,756	)		—
Investment in subsidiary		163,524			405,599			—			(569,123	)		—
Equity in oil and natural gas partnership		—			4,706			—			—			4,706
Funds in escrow and other		515			1,835			—			—			2,350
Total assets	$	4,977,193		$	5,726,530		$	554,327		$	(5,529,411	)	$	5,728,639
Current liabilities:
Accounts payable and accrued liabilities	$	—		$	628,027		$	33,490		$	(2,883	)	$	658,634
Liabilities from derivative contracts		—			79,844			—			—			79,844
Asset retirement obligations		—			54			—			—			54
Current portion of deferred income taxes		1,848			—			—			(1,848	)		—
Current portion of long-term debt		—			1,389			—			—			1,389
Total current liabilities		1,848			709,314			33,490			(4,731	)		739,921
Long-term debt		3,445,638			—			—			—			3,445,638
Other noncurrent liabilities:
Liabilities from derivative contracts		—			65,359			—			—			65,359
Asset retirement obligations		—			34,207			153			—			34,360
Deferred income taxes		—			7,789			—			—			7,789
Intercompany notes and accounts payable		210,232			4,743,652			562			(4,954,446	)		—
Other		—			2,685			5,374			—			8,059
Commitments and contingencies
Mezzanine equity:
Redeemable noncontrolling interest		—			—			108,038			—			108,038
Stockholders' equity:
Preferred stock		—			—			—			—			—
Common stock		41			—			—			—			41
Additional paid-in capital		2,976,907			—			409,696			(409,696	)		2,976,907
Retained earnings (accumulated deficit)		(1,657,473	)		163,524			(2,986	)		(160,538	)		(1,657,473	)
Total stockholders' equity		1,319,475			163,524			406,710			(570,234	)		1,319,475
Total liabilities and stockholders' equity	$	4,977,193		$	5,726,530		$	554,327		$	(5,529,411	)	$	5,728,639
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
	Six Months Ended June 30, 2014
	Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
	Company			Subsidiaries			Subsidiary
	(In thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	(185,017	)	$	592,504		$	4,849		$	(1,394	)	$	410,942
Cash flows from investing activities:
Oil and natural gas capital expenditures		—			(841,905	)		(13,227	)		1,394			(853,738	)
Proceeds received from sale of oil and natural gas assets		—			431,635			33,817			—			465,452
Advance on carried interest		—			(62,500	)		(126,942	)		—			(189,442	)
Other operating property and equipment capital expenditures		(1,277	)		(28,248	)		—			—			(29,525	)
Advances to subsidiary		(69,223	)		(162,878	)		—			232,101			—
Funds held in escrow and other		—			(307	)		—			—			(307	)
Net cash provided by (used in) investing activities		(70,500	)		(664,203	)		(106,352	)		233,495			(607,560	)
Cash flows from financing activities:
Proceeds from borrowings		1,286,000			—			—			—			1,286,000
Repayments of borrowings		(1,027,000	)		—			—			—			(1,027,000	)
Debt issuance costs		(77	)		—			—			—			(77	)
HK TMS, LLC preferred stock issued		—			—			110,051			—			110,051
HK TMS, LLC tranche rights		—			—			4,516			—			4,516
HK TMS, LLC preferred stock dividends		—			—			(493	)		—			(493	)
Restricted cash		—			—			(16,000	)		—			(16,000	)
Proceeds from subsidiary		—			69,223			162,878			(232,101	)		—
Offering costs and other		(3,407	)		—			1,466			—			(1,941	)
Net cash provided by (used in) financing activities		255,516			69,223			262,418			(232,101	)		355,056
Net increase (decrease) in cash		(1	)		(2,476	)		160,915			—			158,438
Cash at beginning of period		1			2,833			—			—			2,834
Cash at end of period	$	—		$	357		$	160,915		$	—		$	161,272

FINANCIAL_STATEMENT_PRESENTATI1

FINANCIAL STATEMENT PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2014
FINANCIAL STATEMENT PRESENTATION	'
Basis of Presentation and Principles of Consolidation	'
	Basis of Presentation and Principles of Consolidation
	Halcón Resources Corporation (Halcón or the Company) is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich assets in the United States. The unaudited condensed consolidated financial statements include the accounts of all majority-owned, controlled subsidiaries and an equity method investment. The Company operates in one segment which focuses on oil and natural gas acquisition, production, exploration and development. The Company's oil and natural gas properties are managed as a whole rather than through discrete operating areas. Operational information is tracked by operating area; however, financial performance is assessed as a whole. Allocation of capital is made across the Company's entire portfolio without regard to operating area. All intercompany accounts and transactions have been eliminated. These unaudited condensed consolidated financial statements reflect, in the opinion of the Company's management, all adjustments, consisting of normal and recurring adjustments, necessary to present fairly the financial position as of, and the results of operations for, the periods presented. During interim periods, Halcón follows the accounting policies disclosed in its 2013 Annual Report on Form 10-K, as filed with the United States Securities and Exchange Commission (SEC). Please refer to the notes in the 2013 Annual Report on Form 10-K when reviewing interim financial results.
	During the year ended 2013, the Company determined that "Net cash provided by operating activities" and "Net cash used in investing activities" for the six month period ended June 30, 2013 were both understated by $1.5 million as a result of the inclusion of capitalized non-cash interest in the change in "Accounts payable and accrued liabilities" line item in operating cash flows and "Oil and natural gas capital expenditures" and "Other operating property and equipment capital expenditures" in investing cash flows. The Company has corrected the error, which had no impact to the net cash flows for the period, and provided related supplemental non-cash information in the accompanying unaudited condensed consolidated statements of cash flows for the six month period ended June 30, 2013.
Use of Estimates	'
	Use of Estimates
	The preparation of the Company's unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods. Estimates and assumptions that, in the opinion of management of the Company, are significant include oil and natural gas revenue, capital and operating expense accruals, oil and natural gas reserves, depletion relating to oil and natural gas properties, asset retirement obligations, fair value estimates and income taxes. The Company bases its estimates and judgments on historical experience and on various other assumptions and information that are believed to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be perceived with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company's operating environment changes. Actual results may differ from the estimates and assumptions used in the preparation of the Company's unaudited condensed consolidated financial statements.
	Interim period results are not necessarily indicative of results of operations or cash flows for the full year and accordingly, certain information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States, has been condensed or omitted. The Company has evaluated events or transactions through the date of issuance of these unaudited condensed consolidated financial statements.
Accounts Receivable and Allowance for Doubtful Accounts	'
	Accounts Receivable and Allowance for Doubtful Accounts
	The Company's accounts receivable are primarily receivables from joint interest owners and oil and natural gas purchasers. Accounts receivable are recorded at the amount due, less an allowance for doubtful accounts, when applicable. The Company establishes provisions for losses on accounts receivable if it determines that collection of all or part of the outstanding balance is doubtful. The Company regularly reviews collectability and establishes or adjusts the allowance for doubtful accounts as necessary using the specific identification method. There were no allowances for doubtful accounts as of June 30, 2014 or December 31, 2013.
Other Operating Property and Equipment	'
	Other Operating Property and Equipment
	Gas gathering systems and equipment are recorded at cost. Depreciation is calculated using the straight-line method over a 30-year estimated useful life. Upon disposition, the cost and accumulated depreciation are removed and any gains or losses are reflected in current operations. Maintenance and repair costs are charged to operating expense as incurred. Material expenditures which increase the life or productive capacity of an asset are capitalized and depreciated over the estimated remaining useful life of the asset. The Company capitalized $106.5 million and $92.0 million as of June 30, 2014 and December 31, 2013, respectively, related to the construction of its gas gathering systems.
	Other operating assets are recorded at cost. Depreciation is calculated using the straight-line method over the following estimated useful lives: automobiles and computers, three years; computer software, fixtures, furniture and equipment, five years; trailers, seven years; heavy equipment, ten years; an airplane and buildings, twenty years and leasehold improvements, lease term. Upon disposition, the cost and accumulated depreciation are removed and any gains or losses are reflected in current operations. Maintenance and repair costs are charged to operating expense as incurred. Material expenditures which increase the life of an asset are capitalized and depreciated over the estimated remaining useful life of the asset.
	The Company reviews its gas gathering systems and equipment and other operating assets for impairment in accordance with ASC 360, Property, Plant, and Equipment (ASC 360). ASC 360 requires the Company to evaluate gas gathering systems and equipment and other operating assets for impairment as events occur or circumstances change that would more likely than not reduce the fair value below the carrying amount. If the carrying amount is not recoverable from its undiscounted cash flows, then the Company would recognize an impairment loss for the difference between the carrying amount and the current fair value. Further, the Company evaluates the remaining useful lives of its gas gathering systems and other operating assets at each reporting period to determine whether events and circumstances warrant a revision to the remaining depreciation periods.
	Operating results for the six months ended June 30, 2014 reflect the impact of approximately $3.8 million in charges related to the disposition of midstream infrastructure assets associated with certain non-core property divestitures. These charges are included in "Other operating property and equipment impairment" in the Company's unaudited condensed consolidated statements of operations.
Recently Issued Accounting Pronouncements	'
	Recently Issued Accounting Pronouncements
	In February 2013, the FASB issued ASU No. 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for which the Total Amount of the Obligation is Fixed at the Reporting Date (ASU 2013-04). ASU 2013-04 provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements, such as debt arrangements, other contractual obligations and settled litigation and judicial rulings. This pronouncement must be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of ASU 2013-04 did not have an impact to the Company's operating results, financial position and disclosures.
	In February 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). ASU 2013-11 provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This pronouncement should be applied prospectively to all unrecognized tax benefits that exist at the effective date and retrospective application is permitted. ASU 2013-11 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of this pronouncement did not have an impact to the Company's operating results and financial position.
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09). ASU 2014-09 states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard provides five steps an entity should apply in determining its revenue recognition. ASU 2014-09 must be applied retrospectively and is effective for annual reporting periods, and interim periods with that reporting period, beginning after December 15, 2016. Early adoption is not permitted. The Company is currently assessing the impact of the adoption of ASU 2014-09 on the Company's operating results, financial position and disclosures.

LONGTERM_DEBT_Tables

LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2014
LONG-TERM DEBT.	'
Schedule of long-term debt	'
		June 30,		December 31,
		2014(1)		2013(1)
		(In thousands)
	Senior revolving credit facility	$	259,000	$	—
	9.25% senior notes due 2022		400,000		400,000
	8.875% senior notes due 2021(2)		1,371,216		1,372,355
	9.75% senior notes due 2020(3)		1,151,961		1,152,099
	8.0% convertible note due 2017(4)		263,461		259,369
		$	3,445,638	$	3,183,823
	-1
	Table excludes $1.4 million of deferred premiums on derivative contracts which were classified as current at June 30, 2014 and December 31, 2013.
	-2
	Amounts are net of a $4.9 million and a $5.1 million unamortized discount at June 30, 2014 and December 31, 2013, respectively, related to the issuance of the original 2021 Notes. The unamortized premium related to the additional 2021 Notes was approximately $26.1 million and $27.5 million at June 30, 2014 and December 31, 2013, respectively. See "8.875% Senior Notes" below for more details.
	-3
	Amounts are net of a $8.4 million and a $8.9 million unamortized discount at June 30, 2014 and December 31, 2013, respectively, related to the issuance of the original 2020 Notes. On December 19, 2013, the Company completed the issuance of an additional $400 million principal amount of these notes. The unamortized premium related to these additional 2020 Notes was approximately $10.3 million and $11.0 million at June 30, 2014 and December 31, 2013, respectively. See "9.75% Senior Notes" below for more details.
	-4
	Amount is net of a $26.2 million and a $30.3 million unamortized discount at June 30, 2014 and December 31, 2013, respectively. See "8.0% Convertible Note" below for more details.

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2014
FAIR VALUE MEASUREMENTS	'
Schedule of fair value of the Company's financial assets and liabilities	'
		June 30, 2014
		Level 1			Level 2			Level 3		Total
		(In thousands)
	Assets
	Receivables from derivative contracts	$	—		$	694		$	—	$	694
	Liabilities
	Liabilities from derivative contracts	$	—		$	140,033		$	5,170	$	145,203
		December 31, 2013
		Level 1			Level 2			Level 3		Total
		(In thousands)
	Assets
	Receivables from derivative contracts	$	—		$	24,762		$	—	$	24,762
	Liabilities
	Liabilities from derivative contracts	$	—		$	34,376		$	2,816	$	37,192
Schedule of reconciliation of changes in the fair value of the Company's oil derivative instruments classified as Level 3 in the fair value hierarchy	'
	The following table sets forth a reconciliation of changes in the fair value of the Company's extendable collar contracts classified as Level 3 in the fair value hierarchy (in thousands):
		Significant Unobservable
		Inputs (Level 3)
		June 30,			December 31,
		2014			2013
	Beginning Balance	$	(2,816	)	$	—
	Net gain (loss) on derivative contracts		(2,354	)		(2,816	)
	Settlements		—			—
	Purchase of derivative contracts		—			—
	Buy out of derivative contracts		—			—
	Ending Balance	$	(5,170	)	$	(2,816	)
	Change in unrealized gains (losses) included in earnings related to derivatives still held at June 30, 2014 and December 31, 2013	$	(2,354	)	$	(2,816	)
Schedule of the estimated fair values of the Company's fixed interest rate, long-term debt instruments	'
		June 30, 2014						December 31, 2013
	Debt	Carrying			Estimated			Carrying		Estimated
		Amount			Fair Value			Amount		Fair Value
		(In thousands)
	9.25% $400 million senior notes	$	400,000		$	437,000		$	400,000	$	407,432
	8.875% $1.35 billion senior notes		1,350,000			1,454,625			1,350,000		1,390,500
	9.75% $1.15 billion senior notes		1,150,000			1,263,563			1,150,000		1,197,438
	8.0% $289.7 million convertible note		289,669			538,709			289,669		368,418
		$	3,189,669		$	3,693,897		$	3,189,669	$	3,363,788

DERIVATIVE_AND_HEDGING_ACTIVIT1

DERIVATIVE AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2014
DERIVATIVE AND HEDGING ACTIVITIES	'
Summary of location and fair value of derivative contracts	'
				Asset derivative								Liability derivative
				contracts								contracts
	Derivatives not	Balance sheet		June 30,			December 31,			Balance sheet		June 30,			December 31,
	designated as			2014			2013					2014			2013
	hedging contracts
	under ASC 815
				(In thousands)								(In thousands)
	Commodity contracts	Current assets—receivables from derivative contracts		$	343		$	2,028		Current liabilities—liabilities from derivative contracts		$	(79,844	)	$	(17,859	)
	Commodity contracts	Other noncurrent assets—receivables from derivative contracts			351			22,734		Other noncurrent liabilities—liabilities from derivative contracts			(65,359	)		(19,333	)
	Total derivatives not designated as hedging contracts under ASC 815			$	694		$	24,762				$	(145,203	)	$	(37,192	)
Summary of the location and amounts of the Company's realized and unrealized gains and losses on derivative contracts	'
				Amount of gain or						Amount of gain or
				(loss) recognized in						(loss) recognized in
				income on						income on
				derivative contracts						derivative contracts
				for the Three						for the Six
				Months Ended						Months Ended
		Location of gain or (loss)		June 30,						June 30,
		recognized in income on
	Derivatives not designated as	derivative contracts		2014			2013			2014			2013
	hedging contracts under ASC 815
				(In thousands)						(In thousands)
	Commodity contracts:
	Unrealized gain (loss) oncommodity contracts	Other income (expenses)—net gain (loss) on derivative contracts		$	(105,897	)	$	34,515		$	(132,813	)	$	17,716
	Realized gain (loss) on commodity contracts	Other income (expenses)—net gain (loss) on derivative contracts		$	(15,145	)	$	(415	)	$	(21,885	)		(2,038	)
	Total net gain (loss) on derivative contracts	Other income (expenses)—net gain (loss) on derivative contracts		$	(121,042	)	$	34,100		$	(154,698	)	$	15,678
Schedule of open derivative contracts	'
						June 30, 2014
									Floors					Ceilings					Put Options						Call Options
	Period	Instrument		Commodity		Volume in			Price /		Weighted			Price /		Weighted			Price /			Weighted			Price /		Weighted
						Mmbtu's/			Price Range		Average			Price Range		Average			Price Range			Average			Price Range		Average
						Bbl's					Price					Price						Price					Price
	July 2014 - December 2014	Call		Crude Oil			184,000																		$	95	$	95
	July 2014 - December 2014	Collars		Crude Oil			4,738,000		85.00 - 95.00			88.83		92.50 - 108.45			96.58
	July 2014 - December 2014	Collars		Natural Gas			6,900,000		3.75 - 4.00			3.87		4.26 - 4.55			4.36
	July 2014 - December 2014	Put		Crude Oil			184,000													90			90
	July 2014 - December 2014	Swaps		Crude Oil			276,000		96.00 - 96.17			96.11
	January 2015 - June 2015	Collars		Crude Oil			1,583,750		85.00 - 90.00			86.29		91.00 - 98.50			93.14
	January 2015 - December 2015	Collars		Natural Gas			6,387,500		4			4		4.55 - 4.85			4.68
	January 2015 - December 2015(1)	Collars		Crude Oil			6,205,000		82.50 - 90.00			86.47		90.00 - 100.25			94.39
	January 2015 - December 2015(2)	Swaps		Crude Oil			1,825,000		91.00 - 92.75			91.76
	March 2015 - December 2015	Collars		Crude Oil			306,000		87.5			87.5		92.5			92.5
	April 2015 - December 2015	Collars		Crude Oil			412,500		87.5			87.5		92.5			92.5
	July 2015 - December 2015	Collars		Crude Oil			1,104,000		85.00 - 87.50			85.83		90.00 - 92.50			90.92
	January 2016 - June 2016	Collars		Crude Oil			182,000		90			90		96.85			96.85
	January 2016 - December 2016	Collars		Crude Oil			1,830,000		87.50 - 90.00			88.55		92.70 - 95.10			93.84
	January 2016 - December 2016	Collars		Natural Gas			732,000		4			4		4.22			4.22
	January 2016 - December 2016(3)	Swaps		Crude Oil			2,928,000		88.00 - 91.50			89.04
	-1
	Includes an outstanding crude oil collar which may be extended at a floor of $85.00 per Bbl and a ceiling of $96.20 per Bbl for a total of 732,000 Bbls for the year ended December 31, 2016. Also includes an outstanding crude oil collar which may be extended at a floor of $85.00 per Bbl and a ceiling of $96.00 per Bbl for a total of 366,000 Bbls for the year ended December 31, 2016.
	-2
	Includes an outstanding crude oil swap of which may be extended at a price of $91.25 per Bbl for 732,000 Bbls for the year ended December 31, 2016. Also includes certain outstanding crude oil swaps which may be extended at a price of $91.00 per Bbl totaling 366,000 Bbls for the year ended December 31, 2016.
	-3
	Includes an outstanding crude oil swap which may be extended at a price of $88.25 per Bbl for a total of 730,000 Bbls for the year ended December 31, 2017. Also includes certain outstanding crude oil swaps which may be extended at a price of $88.00 per Bbl totaling 912,500 Bbls for the year ended December 31, 2017. Includes an outstanding crude oil swap which may be extended at a price of $88.87 per Bbl totaling 547,500 Bbls for the year ended December 31, 2017.
						December 31, 2013
									Floors						Ceilings						Put Options
	Period	Instrument		Commodity		Volume in			Price /			Weighted			Price /			Weighted			Price /			Weighted
						Mmbtu's/			Price Range			Average			Price Range			Average			Price Range			Average
						Bbl's						Price						Price						Price
	January 2014 - March 2014	Three-Way Collars		Crude Oil			144,000		$	95		$	95		$	98.60 - 109.50		$	100.03		$	70		$	70
	January 2014 - June 2014	Collars		Crude Oil			724,000			90			90			96.50 - 99.50			98
	January 2014 - December 2014	Collars		Crude Oil			7,573,750			85.00 - 95.00			88.67			93.60 - 108.45			96.22
	January 2014 - December 2014	Collars		Natural Gas			11,862,500			3.75 - 4.00			3.85			4.26 - 4.55			4.35
	April 2014 - June 2014	Three-Way Collars		Crude Oil			136,500			95			95			98.20 - 101.00			99.13			70			70
	July 2014 - December 2014	Collars		Crude Oil			920,000			87.50 - 90.00			89.5			92.50 - 100.25			97.87
	July 2014 - December 2014	Collars		Natural Gas			920,000			4			4			4.42			4.42
	July 2014 - December 2014	Put		Crude Oil			184,000															90			90
	January 2015 - June 2015	Collars		Crude Oil			1,583,750			85.00 - 90.00			86.29			91.00 - 98.50			93.14
	January 2015 - December 2015(1)	Collars		Crude Oil			5,110,000			82.50 - 90.00			86.07			90.00 - 100.25			94.65
	January 2015 - December 2015	Collars		Natural Gas			6,387,500			4			4			4.55 - 4.85			4.68
	January 2015 - December 2015(2)	Swaps		Crude Oil			1,095,000			91.00 - 91.25			91.17
	January 2016 - December 2016(3)	Swaps		Crude Oil			2,190,000			88.00 - 88.87			88.3
	-1
	Includes an outstanding crude oil collar which may be extended at a floor of $85.00 per Bbl and a ceiling of $96.20 per Bbl for a total of 730,000 Bbls for the year ended December 31, 2016. Also includes an outstanding crude oil collar which may be extended at a floor of $85.00 per Bbl and a ceiling of $96.00 per Bbl for a total of 365,000 Bbls for the year ended December 31, 2016.
	-2
	Includes an outstanding crude oil swap which may be extended at a price of $91.25 per Bbl for 730,000 Bbls for the year ended December 31, 2016. Also includes certain outstanding crude oil swaps which may be extended at a price of $91.00 per Bbl totaling 365,000 Bbls for the year ended December 31, 2016.
	-3
	Includes an outstanding crude oil swap which may be extended at a price of $88.25 per Bbl for a total of 730,000 Bbls for the year ended December 31, 2017. Also includes certain outstanding crude oil swaps which may be extended at a price of $88.00 per Bbl totaling 912,500 Bbls for the year ended December 31, 2017. Includes an outstanding crude oil swap which may be extended at a price of $88.87 per Bbl totaling 547,500 Bbls for the year ended December 31, 2017.
Schedule of potential effects of master netting arrangements on the fair value of derivative contracts	'
		Derivative Assets						Derivative Liabilities
	Offsetting of Derivative Assets and Liabilities	June 30,			December 31,			June 30,			December 31,
		2014			2013			2014			2013
		(In thousands)						(In thousands)
	Gross Amounts Presented in the Consolidated Balance Sheet	$	694		$	24,762		$	(145,203	)	$	(37,192	)
	Amounts Not Offset in the Consolidated Balance Sheet		(694	)		(20,036	)		675			19,507
	Net Amount	$	—		$	4,726		$	(144,528	)	$	(17,685	)

ASSET_RETIREMENT_OBLIGATIONS_T

ASSET RETIREMENT OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2014
ASSET RETIREMENT OBLIGATIONS	'
Schedule of activity related to ARO liability	'
	The Company recorded the following activity related to its ARO liability for the six months ended June 30, 2014 (in thousands, inclusive of the current portion):
	Liability for asset retirement obligations as of December 31, 2013	$	39,257
	Liabilities settled and divested(1)		(8,039	)
	Additions		1,988
	Acquisitions		105
	Accretion expense		948
	Revisions in estimated cash flows		155
	Liability for asset retirement obligations as of June 30, 2014	$	34,414
	-1
	See Note 2, "Acquisitions and Divestitures" for additional information on the Company's divestiture activities.

MEZZANINE_EQUITY_Tables

MEZZANINE EQUITY (Tables)	6 Months Ended
	Jun. 30, 2014
MEZZANINE EQUITY	'
Schedule of allocation of initial investment proceeds	'
	Of the $150 million initial investment proceeds from Apollo, the Company allocated the proceeds as follows (in thousands):
	HK TMS, LLC preferred stock	$	110,051
	Tranche rights		4,516
	Overriding royalty interest		34,576
	Other		857
	Total initial investment proceeds	$	150,000
Schedule of activity related to the preferred shares recorded as mezzanine equity	'
	The Company recorded the following activity related to the preferred shares recorded in "Mezzanine equity" for the six months ended June 30, 2014 (in thousands, except per share amounts):
		Redeemable
		noncontrolling interest
		(Mezzanine equity)
		Shares		Amount
	Balances at December 31, 2013		—	$	—
	Issuance of HK TMS, LLC preferred stock		150,000		110,051
	Offering costs		—		(2,416	)
	Deemed dividends on redeemable noncontrolling interest		—		403
	Balances at June 30, 2014		150,000	$	108,038

EARNINGS_PER_COMMON_SHARE_Tabl

EARNINGS PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2014
EARNINGS PER COMMON SHARE	'
Schedule of calculation of earnings (loss) per share	'
	The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):
		Three Months Ended June 30,					Six Months Ended June 30,
		2014			2013		2014			2013
		(In thousands, except per share amounts)
	Basic:
	Net income (loss) available to common stockholders	$	(73,333	)	$	36,372	$	(151,256	)	$	41,837
	Weighted average basic number of common shares outstanding		414,722			366,712		414,125			356,482
	Basic net income (loss) per share of common stock	$	(0.18	)	$	0.1	$	(0.37	)	$	0.12
	Diluted:
	Net income (loss) available to common stockholders	$	(73,333	)	$	36,372	$	(151,256	)	$	41,837
	Interest on convertible debt, net		—			974		—			1,974
	Net income (loss) available to common stockholders after assumed conversions	$	(73,333	)	$	37,346	$	(151,256	)	$	43,811
	Weighted average basic number of common shares outstanding		414,722			366,712		414,125			356,482
	Common stock equivalent shares representing shares issuable upon:
	Exercise of stock options		Anti-dilutive			Anti-dilutive		Anti-dilutive			Anti-dilutive
	Exercise of February 2012 Warrants		Anti-dilutive			9,954		Anti-dilutive			12,183
	Exercise of August 2012 Warrants		—			Anti-dilutive		—			Anti-dilutive
	Vesting of restricted shares		Anti-dilutive			108		Anti-dilutive			682
	Vesting of performance units		Anti-dilutive			—		Anti-dilutive			—
	Conversion of 2017 Notes		Anti-dilutive			64,371		Anti-dilutive			32,185
	Conversion of preferred stock		—			—		—			10,880
	Conversion of Series A preferred stock		Anti-dilutive			Anti-dilutive		Anti-dilutive			Anti-dilutive
	Weighted average diluted number of common shares outstanding		414,722			441,145		414,125			412,412
	Diluted net income (loss) per share of common stock	$	(0.18	)	$	0.08	$	(0.37	)	$	0.11

ADDITIONAL_FINANCIAL_STATEMENT1

ADDITIONAL FINANCIAL STATEMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2014
ADDITIONAL FINANCIAL STATEMENT INFORMATION	'
Schedule of additional financial statement information, balance sheet	'
		June 30,		December 31,
		2014		2013
		(In thousands)
	Accounts receivable:
	Oil, natural gas and natural gas liquids revenues	$	188,802	$	129,355
	Joint interest accounts		118,561		170,907
	Affiliated partnership		234		500
	Other		1,282		11,756
		$	308,879	$	312,518
	Prepaids and other:
	Prepaids	$	7,691	$	5,636
	Income tax receivable		5,403		10,404
	Other		1,085		58
		$	14,179	$	16,098
	Accounts payable and accrued liabilities:
	Trade payables	$	119,823	$	87,661
	Accrued oil and natural gas capital costs		234,940		292,472
	Revenues and royalties payable		155,927		124,222
	Accrued interest expense		82,564		82,570
	Accrued employee compensation		9,803		2,272
	Accrued lease operating expenses		25,063		21,469
	Drilling advances from partners		29,361		24,882
	Affiliated partnership		866		679
	Other		287		362
		$	658,634	$	636,589

CONDENSED_CONSOLIDATING_FINANC1

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2014
CONDENSED CONSOLIDATING FINANCIAL INFORMATION	'
Results of operations	'
	CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
		Three Months Ended June 30, 2014
		Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
		Company			Subsidiaries			Subsidiary
		(In thousands)
	Operating revenues:
	Oil, natural gas and natural gas liquids sales:
	Oil	$	—		$	302,520		$	1,692		$	—		$	304,212
	Natural gas		—			10,308			—			—			10,308
	Natural gas liquids		—			9,364			—			—			9,364
	Total oil, natural gas and natural gas liquids sales		—			322,192			1,692			—			323,884
	Other		—			6,792			—			(3,532	)		3,260
	Total operating revenues		—			328,984			1,692			(3,532	)		327,144
	Operating expenses:
	Production:
	Lease operating		—			30,842			126			—			30,968
	Workover and other		—			3,988			—			—			3,988
	Taxes other than income		76			30,131			103			—			30,310
	Gathering and other		—			5,898			—			—			5,898
	General and administrative		16,534			11,071			2,276			(2,138	)		27,743
	Depletion, depreciation and accretion		605			131,736			722			407			133,470
	Other operating property and equipment impairment		—			3,477			—			—			3,477
	Total operating expenses		17,215			217,143			3,227			(1,731	)		235,854
	Income (loss) from operations		(17,215	)		111,841			(1,535	)		(1,801	)		91,290
	Other income (expenses):
	Net gain (loss) on derivative contracts		—			(121,042	)		—			—			(121,042	)
	Interest expense and other, net		(79,497	)		41,765			7			—			(37,725	)
	Total other income (expenses)		(79,497	)		(79,277	)		7			—			(158,767	)
	Income (loss) before income taxes		(96,712	)		32,564			(1,528	)		(1,801	)		(67,477	)
	Income tax benefit (provision)		—			(128	)		(562	)		690			—
	Equity in earnings of subsidiary, net of tax		28,339			(4,097	)		—			(24,242	)		—
	Net income (loss)		(68,373	)		28,339			(2,090	)		(25,353	)		(67,477	)
	Series A preferred dividends		(4,960	)		—			—			—			(4,960	)
	Preferred dividends on redeemable noncontrolling interest		—			—			(896	)		—			(896	)
	Net income (loss) available to common stockholders	$	(73,333	)	$	28,339		$	(2,986	)	$	(25,353	)	$	(73,333	)
		Six Months Ended June 30, 2014
		Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
		Company			Subsidiaries			Subsidiary
		(In thousands)
	Operating revenues:
	Oil, natural gas and natural gas liquids sales:
	Oil	$	—		$	558,549		$	1,692		$	—		$	560,241
	Natural gas		—			19,717			—			—			19,717
	Natural gas liquids		—			18,123			—			—			18,123
	Total oil, natural gas and natural gas liquids sales		—			596,389			1,692			—			598,081
	Other		—			7,744			—			(3,532	)		4,212
	Total operating revenues		—			604,133			1,692			(3,532	)		602,293
	Operating expenses:
	Production:
	Lease operating		—			67,480			126			—			67,606
	Workover and other		—			6,777			—			—			6,777
	Taxes other than income		152			54,215			103			—			54,470
	Gathering and other		—			10,659			—			—			10,659
	Restructuring		—			987			—			—			987
	General and administrative		37,259			23,144			2,276			(2,138	)		60,541
	Depletion, depreciation and accretion		1,353			250,896			722			407			253,378
	Full cost ceiling impairment		—			61,165			—			—			61,165
	Other operating property and equipment impairment		—			3,789			—			—			3,789
	Total operating expenses		38,764			479,112			3,227			(1,731	)		519,372
	Income (loss) from operations		(38,764	)		125,021			(1,535	)		(1,801	)		82,921
	Other income (expenses):
	Net gain (loss) on derivative contracts		—			(154,698	)		—			—			(154,698	)
	Interest expense and other, net		(158,095	)		89,424			7			—			(68,664	)
Total other income (expenses)		(158,095	)		(65,274	)		7			—			(223,362	)
Income (loss) before income taxes		(196,859	)		59,747			(1,528	)		(1,801	)		(140,441	)
Income tax benefit (provision)		—			(128	)		(562	)		690			—
Equity in earnings of subsidiary, net of tax		55,522			(4,097	)		—			(51,425	)		—
Net income (loss)		(141,337	)		55,522			(2,090	)		(52,536	)		(140,441	)
Series A preferred dividends		(9,919	)		—			—			—			(9,919	)
Preferred dividends on redeemable noncontrolling interest		—			—			(896	)		—			(896	)
Net income (loss) available to common stockholders	$	(151,256	)	$	55,522		$	(2,986	)	$	(52,536	)	$	(151,256	)
Balance sheet	'
	CONDENSED CONSOLIDATING BALANCE SHEETS
		June 30, 2014
		Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
		Company			Subsidiaries			Subsidiary
		(In thousands)
	Current assets:
	Cash	$	—		$	357		$	160,915		$	—		$	161,272
	Accounts receivable		—			301,924			9,838			(2,883	)		308,879
	Receivables from derivative contracts		—			343			—			—			343
	Current portion of deferred income taxes		—			9,637			—			(1,848	)		7,789
	Restricted cash		—			—			16,000			—			16,000
	Inventory		—			6,091			—			—			6,091
	Prepaids and other		1,028			13,151			—			—			14,179
	Total current assets		1,028			331,503			186,753			(4,731	)		514,553
	Oil and natural gas properties (full cost method):
	Evaluated		—			5,258,205			11,024			(1,394	)		5,267,835
	Unevaluated		—			1,887,916			357,257			—			2,245,173
	Gross oil and natural gas properties		—			7,146,121			368,281			(1,394	)		7,513,008
	Less—accumulated depletion		—			(2,497,664	)		(793	)		(407	)		(2,498,864	)
	Net oil and natural gas properties		—			4,648,457			367,488			(1,801	)		5,014,144
	Other operating property and equipment:
	Gas gathering and other operating assets		14,354			130,351			90			—			144,795
	Less—accumulated depreciation		(5,228	)		(6,504	)		(4	)		—			(11,736	)
	Net other operating property and equipment		9,126			123,847			86			—			133,059
	Other noncurrent assets:
	Receivables from derivative contracts		—			351			—			—			351
	Debt issuance costs, net		59,476			—			—			—			59,476
	Intercompany notes and accounts receivable		4,743,524			210,232			—			(4,953,756	)		—
	Investment in subsidiary		163,524			405,599			—			(569,123	)		—
	Equity in oil and natural gas partnership		—			4,706			—			—			4,706
	Funds in escrow and other		515			1,835			—			—			2,350
	Total assets	$	4,977,193		$	5,726,530		$	554,327		$	(5,529,411	)	$	5,728,639
	Current liabilities:
	Accounts payable and accrued liabilities	$	—		$	628,027		$	33,490		$	(2,883	)	$	658,634
	Liabilities from derivative contracts		—			79,844			—			—			79,844
	Asset retirement obligations		—			54			—			—			54
	Current portion of deferred income taxes		1,848			—			—			(1,848	)		—
	Current portion of long-term debt		—			1,389			—			—			1,389
	Total current liabilities		1,848			709,314			33,490			(4,731	)		739,921
	Long-term debt		3,445,638			—			—			—			3,445,638
	Other noncurrent liabilities:
	Liabilities from derivative contracts		—			65,359			—			—			65,359
	Asset retirement obligations		—			34,207			153			—			34,360
	Deferred income taxes		—			7,789			—			—			7,789
	Intercompany notes and accounts payable		210,232			4,743,652			562			(4,954,446	)		—
	Other		—			2,685			5,374			—			8,059
	Commitments and contingencies
	Mezzanine equity:
	Redeemable noncontrolling interest		—			—			108,038			—			108,038
	Stockholders' equity:
	Preferred stock		—			—			—			—			—
	Common stock		41			—			—			—			41
	Additional paid-in capital		2,976,907			—			409,696			(409,696	)		2,976,907
	Retained earnings (accumulated deficit)		(1,657,473	)		163,524			(2,986	)		(160,538	)		(1,657,473	)
	Total stockholders' equity		1,319,475			163,524			406,710			(570,234	)		1,319,475
	Total liabilities and stockholders' equity	$	4,977,193		$	5,726,530		$	554,327		$	(5,529,411	)	$	5,728,639
Cash flows	'
	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
		Six Months Ended June 30, 2014
		Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
		Company			Subsidiaries			Subsidiary
		(In thousands)
	Cash flows from operating activities:
	Net cash provided by (used in) operating activities	$	(185,017	)	$	592,504		$	4,849		$	(1,394	)	$	410,942
	Cash flows from investing activities:
	Oil and natural gas capital expenditures		—			(841,905	)		(13,227	)		1,394			(853,738	)
	Proceeds received from sale of oil and natural gas assets		—			431,635			33,817			—			465,452
	Advance on carried interest		—			(62,500	)		(126,942	)		—			(189,442	)
	Other operating property and equipment capital expenditures		(1,277	)		(28,248	)		—			—			(29,525	)
	Advances to subsidiary		(69,223	)		(162,878	)		—			232,101			—
	Funds held in escrow and other		—			(307	)		—			—			(307	)
	Net cash provided by (used in) investing activities		(70,500	)		(664,203	)		(106,352	)		233,495			(607,560	)
	Cash flows from financing activities:
	Proceeds from borrowings		1,286,000			—			—			—			1,286,000
	Repayments of borrowings		(1,027,000	)		—			—			—			(1,027,000	)
	Debt issuance costs		(77	)		—			—			—			(77	)
	HK TMS, LLC preferred stock issued		—			—			110,051			—			110,051
	HK TMS, LLC tranche rights		—			—			4,516			—			4,516
	HK TMS, LLC preferred stock dividends		—			—			(493	)		—			(493	)
	Restricted cash		—			—			(16,000	)		—			(16,000	)
	Proceeds from subsidiary		—			69,223			162,878			(232,101	)		—
	Offering costs and other		(3,407	)		—			1,466			—			(1,941	)
	Net cash provided by (used in) financing activities		255,516			69,223			262,418			(232,101	)		355,056
	Net increase (decrease) in cash		(1	)		(2,476	)		160,915			—			158,438
	Cash at beginning of period		1			2,833			—			—			2,834
	Cash at end of period	$	—		$	357		$	160,915		$	—		$	161,272

FINANCIAL_STATEMENT_PRESENTATI2

FINANCIAL STATEMENT PRESENTATION (Details) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
	item
Basis of Presentation and Principles of Consolidation	'	'	'
Number of operating segments	1	'	'
Allowance for doubtful accounts receivable	$0	'	$0
Corrections of errors	'	'	'
Net cash provided by operating activities	410,942,000	231,366,000	'
Net cash used in investing activities	-607,560,000	-1,167,226,000	'
Correction of errors related to capitalized non-cash interest	'	'	'
Corrections of errors	'	'	'
Net cash provided by operating activities	-1,500,000	'	'
Net cash used in investing activities	($1,500,000)	'	'

FINANCIAL_STATEMENT_PRESENTATI3

FINANCIAL STATEMENT PRESENTATION (Details 2) (USD $)

3 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Non-core property divestitures

Gas gathering systems and equipment

Gas gathering systems and equipment

Automobiles

Computers

Computer software

Fixtures, furniture and equipment

Trailers

Heavy equipment

Airplane and buildings

Other operating property and equipment

'

'

'

'

'

'

'

'

'

'

'

'

Estimated useful life

'

'

'

'30 years

'

'3 years

'3 years

'5 years

'5 years

'7 years

'10 years

'20 years

Cost capitalized

'

'

'

$106,500,000

$92,000,000

'

'

'

'

'

'

'

Other operating property and equipment impairment

$3,477,000

$3,789,000

$3,800,000

'

'

'

'

'

'

'

'

'

ACQUISITIONS_AND_DIVESTITURES_

ACQUISITIONS AND DIVESTITURES (Details) (USD $)	6 Months Ended				3 Months Ended	9 Months Ended	0 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	31-May-14	9-May-14	Sep. 30, 2013	Sep. 30, 2013	Jul. 19, 2013	9-May-14
			Senior revolving credit facility	Senior revolving credit facility	Non-core Divestitures	Non-core Divestitures	Eagle Ford Assets	East Texas Assets
					item
Divestitures	'	'	'	'	'	'	'	'
Total consideration from non-core properties	'	'	'	'	$277,300,000	'	'	$425,300,000
Reduction in borrowing base	'	'	'	100,000,000	'	'	'	'
Current borrowing capacity	'	'	700,000,000	700,000,000	'	'	'	'
Number of separate purchase and sale agreements	'	'	'	'	3	'	'	'
Gain (loss) from sale of interests	'	'	'	'	'	0	0	0
Proceeds from sale of interests, after post-closing adjustments	$465,452,000	$10,466,000	'	'	'	'	$148,500,000	'

OIL_AND_NATURAL_GAS_PROPERTIES1

OIL AND NATURAL GAS PROPERTIES (Details) (USD $)	3 Months Ended	6 Months Ended	12 Months Ended		6 Months Ended
	Mar. 31, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
					Unevaluated Oil and Gas Leaseholds	Unevaluated Oil and Gas Leaseholds
Oil and Natural Gas Properties	'	'	'	'	'	'
Interest costs capitalized	'	'	'	'	$88,600,000	$106,400,000
Ceiling Limitation Disclosures	'	'	'	'	'	'
First day average of the West Texas Intermediate (WTI) spot price (in dollars per barrel)	'	'	100.27	91.6	'	'
First day average of the Henry Hub price (in dollars per Mmbtu)	'	'	4.1	3.45	'	'
Full cost ceiling impairment	61,200,000	61,165,000	'	'	'	'
Full cost ceiling impairment, after tax	$39,000,000	'	'	'	'	'

LONGTERM_DEBT_Details

LONG-TERM DEBT (Details) (USD $)

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Aug. 13, 2013

Jun. 30, 2014

Dec. 31, 2013

Jan. 14, 2013

Nov. 06, 2012

Dec. 19, 2013

Jun. 30, 2014

Dec. 31, 2013

Jul. 16, 2012

Jun. 30, 2014

Dec. 31, 2013

Feb. 08, 2012

Senior revolving credit facility

9.25% Senior Notes

9.25% Senior Notes

9.25% Senior Notes

8.875% Senior Notes

8.875% Senior Notes

8.875% Senior Notes

8.875% Senior Notes

9.75% Senior Notes

9.75% Senior Notes

9.75% Senior Notes

9.75% Senior Notes

8% Convertible note

8% Convertible note

8% Convertible note

Long-term debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term debt

$3,445,638,000

$3,183,823,000

$259,000,000

$400,000,000

$400,000,000

'

$1,371,216,000

$1,372,355,000

'

'

'

$1,151,961,000

$1,152,099,000

'

$263,461,000

$259,369,000

'

Interest rate (as a percent)

'

'

'

9.25%

9.25%

9.25%

8.88%

8.88%

8.88%

8.88%

'

9.75%

9.75%

9.75%

8.00%

8.00%

8.00%

Deferred premiums on derivative contracts, current

1,400,000

1,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unamortized discount

'

'

'

'

'

'

4,900,000

5,100,000

'

5,700,000

'

8,400,000

8,900,000

10,200,000

26,200,000

30,300,000

43,600,000

Principal amount of debt issued

'

'

'

'

'

'

'

'

'

'

400,000,000

'

'

'

'

'

'

Unamortized premium related to debt issued

'

'

'

'

'

'

$26,100,000

$27,500,000

$30,000,000

'

$11,000,000

$10,300,000

$11,000,000

'

'

'

'

LONGTERM_DEBT_Details_2

LONG-TERM DEBT (Details 2) (Senior revolving credit facility, USD $)

0 Months Ended

0 Months Ended

Oct. 31, 2013

Feb. 08, 2012

Jun. 30, 2014

31-May-14

9-May-14

Mar. 21, 2014

Mar. 21, 2014

Feb. 08, 2012

Oct. 31, 2013

Oct. 31, 2013

Oct. 31, 2013

Feb. 08, 2012

Feb. 08, 2012

Feb. 08, 2012

Feb. 08, 2012

Feb. 08, 2012

Feb. 08, 2012

item

item

Minimum

Minimum

Fiscal quarter ended December 31, 2013

Fiscal quarter ended March 31, 2014

Fiscal quarter ended June 30, 2014

ABR-based

ABR-based

ABR-based

Euro-dollar based

Euro-dollar based

Euro-dollar based

Minimum

Maximum

Minimum

Maximum

Long-term debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum borrowing capacity

'

$1,500,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Current borrowing capacity

'

'

'

'

'

800,000,000

'

'

'

'

'

'

'

'

'

'

'

Number of fiscal quarters for EBITDA utilized for calculation of Interest Coverage Ratio

3

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of interim unscheduled redeterminations of borrowing base to which the company and lender each have the right

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of consecutive semi-annual redeterminations between which the company and the lenders each have the right to one interim unscheduled redetermination of borrowing base

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Multiple applied to stated principal amount of any future notes or other long-term debt securities that the company may issue to calculate reduction in borrowing base

'

0.25

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Credit facility term

'

'5 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable rate base

'

'

'

'

'

'

'

'

'

'

'

'Base rate

'

'

'LIBOR

'

'

Applicable margin (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

0.50%

1.50%

'

1.50%

2.50%

Working capital levels

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

Interest coverage ratio

'

'

'

'

'

'

2

2

'

'

'

'

'

'

'

'

'

Interest coverage ratio after December 31, 2014

'

'

'

'

'

'

'

2.5

'

'

'

'

'

'

'

'

'

Amount outstanding

'

'

259,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Borrowing capacity available before indebtedness limitations in indentures

'

'

700,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Letters of credit outstanding

'

'

1,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Borrowing capacity available under the indebtedness limitation

'

'

266,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

EBITDA period utilized for calculation of Interest Coverage Ratio

'

'

'

'

'

'

'

'

'3 months

'6 months

'9 months

'

'

'

'

'

'

EBITDA multiplier utilized for calculation of Interest Coverage Ratio

'

'

'

'

'

'

'

'

4

2

1.333

'

'

'

'

'

'

Current borrowing capacity

'

'

'

$700,000,000

$700,000,000

'

'

'

'

'

'

'

'

'

'

'

'

LONGTERM_DEBT_Details_3

LONG-TERM DEBT (Details 3) (USD $)

0 Months Ended

6 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

6 Months Ended

In Millions, unless otherwise specified

Aug. 13, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jan. 14, 2013

Nov. 06, 2012

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 19, 2013

Jul. 16, 2012

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

9.25% Senior Notes

9.25% Senior Notes

9.25% Senior Notes

9.25% Senior Notes

9.25% Senior Notes

9.25% Senior Notes

8.875% Senior Notes

8.875% Senior Notes

8.875% Senior Notes

8.875% Senior Notes

8.875% Senior Notes

8.875% Senior Notes

8.875% Senior Notes

8.875% Senior Notes

9.75% Senior Notes

9.75% Senior Notes

9.75% Senior Notes

9.75% Senior Notes

9.75% Senior Notes

9.75% Senior Notes

9.75% Senior Notes

9.75% Senior Notes

item

On or before August 15, 2016

On or before August 15, 2016

On or before August 15, 2016

item

On or before November 15, 2015

On or before November 15, 2015

On or before November 15, 2015

On or before November 15, 2016

item

On or before July 15, 2015

On or before July 15, 2015

On or before July 15, 2015

On or before July 15, 2016

Maximum

Minimum

Maximum

Minimum

Maximum

Minimum

Long-term debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Principal amount

$400

$400

$400

'

'

'

$600

$750

$1,350

$1,350

'

'

'

'

'

$750

$1,150

$1,150

'

'

'

'

Interest rate (as a percent)

9.25%

9.25%

9.25%

'

'

'

8.88%

8.88%

8.88%

8.88%

'

'

'

'

'

9.75%

9.75%

9.75%

'

'

'

'

Issue price as a percentage of par value

'

'

'

'

'

'

105.00%

99.25%

'

'

'

'

'

'

102.75%

98.65%

'

'

'

'

'

'

Net proceeds from issuance

392.1

'

'

'

'

'

619.5

725.6

'

'

'

'

'

'

406.1

723.1

'

'

'

'

'

'

Ownership percentage in subsidiaries

'

100.00%

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

Number of subsidiaries that do not have guaranteed notes

'

1

'

'

'

'

'

'

1

'

'

'

'

'

'

'

1

'

'

'

'

'

Number of tests to be met for incurring additional indebtedness

'

2

'

'

'

'

'

'

2

'

'

'

'

'

'

'

2

'

'

'

'

'

Number of trailing fiscal quarters over which the ratio of the Company's adjusted consolidated EBITDA (as defined in the indenture) to its adjusted consolidated interest expense is to be maintained

'

4

'

'

'

'

'

'

4

'

'

'

'

'

'

'

4

'

'

'

'

'

Adjusted consolidated EBITDA (as defined in the indenture) to adjusted consolidated interest expense ratio

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

Amount over which additional indebtedness cannot exceed

'

750

'

'

'

'

'

'

'

'

'

'

'

'

'

'

750

'

'

'

'

'

Percentage of adjusted consolidated net tangible assets considered over which additional indebtedness cannot exceed

'

30.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

30.00%

'

'

'

'

'

Principal amount of debt issued

'

'

'

'

'

'

'

'

'

'

'

'

'

'

400

'

'

'

'

'

'

'

Independent assets

'

0

'

'

'

'

'

'

0

'

'

'

'

'

'

'

0

'

'

'

'

'

Independent operations

'

0

'

'

'

'

'

'

0

'

'

'

'

'

'

'

0

'

'

'

'

'

Percentage of principal amount of debt instrument which the entity may redeem

'

'

'

'

35.00%

'

'

'

'

'

'

35.00%

'

'

'

'

'

'

'

35.00%

'

'

Redemption price of debt instrument, if redeemed with the proceeds of certain equity offerings (as a percent)

'

'

'

109.25%

'

'

'

'

'

'

108.88%

'

'

'

'

'

'

'

109.75%

'

'

'

Percentage of principal amount of debt instrument, which must remain outstanding after the entity has redeemed a portion of debt instrument with proceeds from certain equity offerings

'

'

'

'

'

65.00%

'

'

'

'

'

'

65.00%

'

'

'

'

'

'

'

65.00%

'

Redemption period for the entity to redeem debt instrument following the receipt of cash proceeds from certain equity offerings

'

'

'

'

'180 days

'

'

'

'

'

'

'180 days

'

'

'

'

'

'

'

'180 days

'

'

Applicable margin (as a percent)

'

'

'

0.50%

'

'

'

'

'

'

'

'

'

0.50%

'

'

'

'

'

'

'

0.50%

Unamortized discount

'

'

'

'

'

'

'

5.7

4.9

5.1

'

'

'

'

'

10.2

8.4

8.9

'

'

'

'

Unamortized premium

'

'

'

'

'

'

$30

'

$26.10

$27.50

'

'

'

'

$11

'

$10.30

$11

'

'

'

'

LONGTERM_DEBT_Details_4

LONG-TERM DEBT (Details 4) (USD $)	6 Months Ended	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jun. 30, 2014	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Jun. 30, 2014	Feb. 08, 2014	Dec. 31, 2013	Feb. 08, 2012
	February 2012 Warrants	8% Convertible note	8% Convertible note	8% Convertible note	8% Convertible note	8% Convertible note	8% Convertible note	8% Convertible note
Long-term debt	'	'	'	'	'	'	'	'
Principal amount	'	'	'	'	$289.70	'	$289.70	$275
Term	'5 years	'	'	'	'	'	'	'
Interest rate (as a percent)	'	'	'	'	8.00%	'	8.00%	8.00%
Interest in kind	'	5.8	5.7	3.2	'	'	'	'
Principal outstanding	'	'	'	'	289.7	'	'	'
Amount of principal and accrued interest that is convertible into one share of the entity's common stock (in dollars per share)	'	'	'	'	'	$4.50	'	'
Unamortized discount	'	'	'	'	$26.20	'	$30.30	$43.60

LONGTERM_DEBT_Details_5

LONG-TERM DEBT (Details 5) (USD $)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Debt Issuance Costs	'	'
Debt issuance costs expensed	$500,000	'
Debt issuance costs, net of amortization	$59,476,000	$64,308,000

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013
		Recurring	Recurring	Recurring	Recurring	Recurring	Recurring
		Level 2	Level 2	Level 3	Level 3	Total	Total
FAIR VALUE MEASUREMENTS	'	'	'	'	'	'	'
Asset transfers between levels	$0	'	'	'	'	'	'
Liability transfers between levels	0	'	'	'	'	'	'
Assets	'	'	'	'	'	'	'
Receivables from derivative contracts	'	694	24,762	'	'	694	24,762
Liabilities	'	'	'	'	'	'	'
Liabilities from derivative contracts	'	$140,033	$34,376	$5,170	$2,816	$145,203	$37,192

FAIR_VALUE_MEASUREMENTS_Detail1

FAIR VALUE MEASUREMENTS (Details 2) (Recurring, USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Recurring	'	'
Reconciliation of changes in the fair value of the Company's oil derivative instruments classified as Level 3 in the fair value hierarchy	'	'
Beginning Balance	($2,816)	'
Net gain (loss) on derivative contracts	-2,354	-2,816
Ending Balance	-5,170	-2,816
Change in unrealized gains (losses) included in earnings related to derivatives still held at the end of the period	($2,354)	($2,816)

FAIR_VALUE_MEASUREMENTS_Detail2

FAIR VALUE MEASUREMENTS (Details 3) (USD $)

Jun. 30, 2014

Dec. 31, 2013

Aug. 13, 2013

Jun. 30, 2014

Dec. 31, 2013

Jan. 14, 2013

Nov. 06, 2012

Jun. 30, 2014

Dec. 31, 2013

Jul. 16, 2012

Jun. 30, 2014

Dec. 31, 2013

Feb. 08, 2012

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

9.25% senior notes

9.25% senior notes

9.25% senior notes

8.875% senior notes

8.875% senior notes

8.875% senior notes

8.875% senior notes

9.75% Senior Notes

9.75% Senior Notes

9.75% Senior Notes

8% Convertible note

8% Convertible note

8% Convertible note

Carrying Amount

Carrying Amount

Carrying Amount

Carrying Amount

Carrying Amount

Carrying Amount

Carrying Amount

Carrying Amount

Carrying Amount

Carrying Amount

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

9.25% senior notes

9.25% senior notes

8.875% senior notes

8.875% senior notes

9.75% Senior Notes

9.75% Senior Notes

8% Convertible note

8% Convertible note

9.25% senior notes

9.25% senior notes

8.875% senior notes

8.875% senior notes

9.75% Senior Notes

9.75% Senior Notes

8% Convertible note

8% Convertible note

Fair value measurements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate (as a percent)

9.25%

9.25%

9.25%

8.88%

8.88%

8.88%

8.88%

9.75%

9.75%

9.75%

8.00%

8.00%

8.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Principal amount

$400,000,000

$400,000,000

$400,000,000

$1,350,000,000

$1,350,000,000

$600,000,000

$750,000,000

$1,150,000,000

$1,150,000,000

$750,000,000

$289,700,000

$289,700,000

$275,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated fair value of debt

'

'

'

'

'

'

'

'

'

'

'

'

'

$3,189,669,000

$3,189,669,000

$400,000,000

$400,000,000

$1,350,000,000

$1,350,000,000

$1,150,000,000

$1,150,000,000

$289,669,000

$289,669,000

$3,693,897,000

$3,363,788,000

$437,000,000

$407,432,000

$1,454,625,000

$1,390,500,000

$1,263,563,000

$1,197,438,000

$538,709,000

$368,418,000

DERIVATIVE_AND_HEDGING_ACTIVIT2

DERIVATIVE AND HEDGING ACTIVITIES (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivative and hedging activities	'	'
Asset derivative contracts	$694	$24,762
Liability derivative contracts	-145,203	-37,192
Derivatives not designated as hedging	'	'
Derivative and hedging activities	'	'
Asset derivative contracts	694	24,762
Liability derivative contracts	-145,203	-37,192
Derivatives not designated as hedging | Commodity contracts	'	'
Derivative and hedging activities	'	'
Number of open commodity derivative contracts	107	86
Derivatives not designated as hedging | Commodity contracts | Current assets - receivables from derivative contracts	'	'
Derivative and hedging activities	'	'
Asset derivative contracts	343	2,028
Derivatives not designated as hedging | Commodity contracts | Other noncurrent assets - receivables from derivative contracts	'	'
Derivative and hedging activities	'	'
Asset derivative contracts	351	22,734
Derivatives not designated as hedging | Commodity contracts | Current liabilities - liabilities from derivative contracts	'	'
Derivative and hedging activities	'	'
Liability derivative contracts	-79,844	-17,859
Derivatives not designated as hedging | Commodity contracts | Other noncurrent liabilities - liabilities from derivative contracts	'	'
Derivative and hedging activities	'	'
Liability derivative contracts	($65,359)	($19,333)
Derivatives not designated as hedging | Commodity contracts | Collars | Natural gas	'	'
Derivative and hedging activities	'	'
Number of open commodity derivative contracts	11	10
Derivatives not designated as hedging | Commodity contracts | Collars | Crude oil	'	'
Derivative and hedging activities	'	'
Number of open commodity derivative contracts	69	52
Derivatives not designated as hedging | Commodity contracts | Swaps | Crude oil	'	'
Derivative and hedging activities	'	'
Number of open commodity derivative contracts	15	8
Derivatives not designated as hedging | Commodity contracts | Three-way collars | Crude oil	'	'
Derivative and hedging activities	'	'
Number of open commodity derivative contracts	'	5
Derivatives not designated as hedging | Commodity contracts | Put options | Crude oil	'	'
Derivative and hedging activities	'	'
Number of open commodity derivative contracts	1	1
Derivatives not designated as hedging | Commodity contracts | Swaptions | Crude oil	'	'
Derivative and hedging activities	'	'
Number of open commodity derivative contracts	8	8
Derivatives not designated as hedging | Commodity contracts | Extendable collars | Crude oil	'	'
Derivative and hedging activities	'	'
Number of open commodity derivative contracts	2	2
Derivatives not designated as hedging | Commodity contracts | Call options | Crude oil	'	'
Derivative and hedging activities	'	'
Number of open commodity derivative contracts	1	'

DERIVATIVE_AND_HEDGING_ACTIVIT3

DERIVATIVE AND HEDGING ACTIVITIES (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Derivative and hedging activities	'	'	'	'
Total net gain (loss) on derivative contracts	($121,042)	$34,100	($154,698)	$15,678
Derivatives not designated as hedging contracts | Commodity contracts | Other Income Expense	'	'	'	'
Derivative and hedging activities	'	'	'	'
Unrealized gain (loss)	-105,897	34,515	-132,813	17,716
Realized gain (loss)	-15,145	-415	-21,885	-2,038
Total net gain (loss) on derivative contracts	($121,042)	$34,100	($154,698)	$15,678

DERIVATIVE_AND_HEDGING_ACTIVIT4

DERIVATIVE AND HEDGING ACTIVITIES (Details 3) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivative Assets	'	'
Gross amounts presented in the consolidated balance sheets	$694	$24,762
Amounts not offset in the consolidated balance sheets	-694	-20,036
Net amount	'	4,726
Derivative Liabilities	'	'
Gross amounts presented in the consolidated balance sheet	-145,203	-37,192
Amounts not offset in the consolidated balance sheet	675	19,507
Net amount	($144,528)	($17,685)
January 2014 - March 2014 | Three- Way Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	'	144,000
Floors (in dollars per Mmbtu's/Bbl's)	'	95
Options (in dollars per Mmbtu's/Bbl's)	'	70
January 2014 - March 2014 | Three- Way Collars | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Ceilings (in dollars per Mmbtu's/Bbl's)	'	98.6
January 2014 - March 2014 | Three- Way Collars | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Ceilings (in dollars per Mmbtu's/Bbl's)	'	109.5
January 2014 - March 2014 | Three- Way Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	'	95
Ceilings (in dollars per Mmbtu's/Bbl's)	'	100.03
Options (in dollars per Mmbtu's/Bbl's)	'	70
January 2014 - June 2014 | Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	'	724,000
Floors (in dollars per Mmbtu's/Bbl's)	'	90
January 2014 - June 2014 | Collars | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Ceilings (in dollars per Mmbtu's/Bbl's)	'	96.5
January 2014 - June 2014 | Collars | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Ceilings (in dollars per Mmbtu's/Bbl's)	'	99.5
January 2014 - June 2014 | Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	'	90
Ceilings (in dollars per Mmbtu's/Bbl's)	'	98
January 2014 - December 2014 | Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	'	7,573,750
January 2014 - December 2014 | Collars | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	'	85
Ceilings (in dollars per Mmbtu's/Bbl's)	'	93.6
January 2014 - December 2014 | Collars | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	'	95
Ceilings (in dollars per Mmbtu's/Bbl's)	'	108.45
January 2014 - December 2014 | Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	'	88.67
Ceilings (in dollars per Mmbtu's/Bbl's)	'	96.22
January 2014 - December 2014 | Collars | Commodity contracts | Natural Gas	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	'	11,862,500
January 2014 - December 2014 | Collars | Commodity contracts | Natural Gas | Minimum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	'	3.75
Ceilings (in dollars per Mmbtu's/Bbl's)	'	4.26
January 2014 - December 2014 | Collars | Commodity contracts | Natural Gas | Maximum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	'	4
Ceilings (in dollars per Mmbtu's/Bbl's)	'	4.55
January 2014 - December 2014 | Collars | Commodity contracts | Natural Gas | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	'	3.85
Ceilings (in dollars per Mmbtu's/Bbl's)	'	4.35
April 2014 - June 2014 | Three- Way Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	'	136,500
Floors (in dollars per Mmbtu's/Bbl's)	'	95
Options (in dollars per Mmbtu's/Bbl's)	'	70
April 2014 - June 2014 | Three- Way Collars | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Ceilings (in dollars per Mmbtu's/Bbl's)	'	98.2
April 2014 - June 2014 | Three- Way Collars | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Ceilings (in dollars per Mmbtu's/Bbl's)	'	101
April 2014 - June 2014 | Three- Way Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	'	95
Ceilings (in dollars per Mmbtu's/Bbl's)	'	99.13
Options (in dollars per Mmbtu's/Bbl's)	'	70
July 2014 - December 2014 | Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	4,738,000	920,000
July 2014 - December 2014 | Collars | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	85	87.5
Ceilings (in dollars per Mmbtu's/Bbl's)	92.5	92.5
July 2014 - December 2014 | Collars | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	95	90
Ceilings (in dollars per Mmbtu's/Bbl's)	108.45	100.25
July 2014 - December 2014 | Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	88.83	89.5
Ceilings (in dollars per Mmbtu's/Bbl's)	96.58	97.87
July 2014 - December 2014 | Collars | Commodity contracts | Natural Gas	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	6,900,000	920,000
Floors (in dollars per Mmbtu's/Bbl's)	'	4
Ceilings (in dollars per Mmbtu's/Bbl's)	'	4.42
July 2014 - December 2014 | Collars | Commodity contracts | Natural Gas | Minimum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	3.75	'
Ceilings (in dollars per Mmbtu's/Bbl's)	4.26	'
July 2014 - December 2014 | Collars | Commodity contracts | Natural Gas | Maximum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	4	'
Ceilings (in dollars per Mmbtu's/Bbl's)	4.55	'
July 2014 - December 2014 | Collars | Commodity contracts | Natural Gas | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	3.87	4
Ceilings (in dollars per Mmbtu's/Bbl's)	4.36	4.42
July 2014 - December 2014 | Swaps | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	276,000	'
July 2014 - December 2014 | Swaps | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	96	'
July 2014 - December 2014 | Swaps | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	96.17	'
July 2014 - December 2014 | Swaps | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	96.11	'
July 2014 - December 2014 | Put options | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	184,000	184,000
Options (in dollars per Mmbtu's/Bbl's)	90	90
July 2014 - December 2014 | Put options | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Options (in dollars per Mmbtu's/Bbl's)	90	90
July 2014 - December 2014 | Call options | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	184,000	'
Options (in dollars per Mmbtu's/Bbl's)	95	'
July 2014 - December 2014 | Call options | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Options (in dollars per Mmbtu's/Bbl's)	95	'
January 2015 - June 2015 | Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	1,583,750	1,583,750
January 2015 - June 2015 | Collars | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	85	85
Ceilings (in dollars per Mmbtu's/Bbl's)	91	91
January 2015 - June 2015 | Collars | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	90	90
Ceilings (in dollars per Mmbtu's/Bbl's)	98.5	98.5
January 2015 - June 2015 | Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	86.29	86.29
Ceilings (in dollars per Mmbtu's/Bbl's)	93.14	93.14
January 2015 - December 2015 | Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	6,205,000	5,110,000
January 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | 730,000 Bbls | Extendable period through December 31, 2016	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	'	730,000
Floors (in dollars per Mmbtu's/Bbl's)	'	85
Ceilings (in dollars per Mmbtu's/Bbl's)	'	96.2
January 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | 365,000 Bbls | Extendable period through December 31, 2016	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	'	365,000
Floors (in dollars per Mmbtu's/Bbl's)	'	85
Ceilings (in dollars per Mmbtu's/Bbl's)	'	96
January 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | 732,000 Bbls | Extendable period through December 31, 2016	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	732,000	'
Floors (in dollars per Mmbtu's/Bbl's)	85	'
Ceilings (in dollars per Mmbtu's/Bbl's)	96.2	'
January 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | 366,000 Bbls | Extendable period through December 31, 2016	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	366,000	'
Floors (in dollars per Mmbtu's/Bbl's)	85	'
Ceilings (in dollars per Mmbtu's/Bbl's)	96	'
January 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	82.5	82.5
Ceilings (in dollars per Mmbtu's/Bbl's)	90	90
January 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	90	90
Ceilings (in dollars per Mmbtu's/Bbl's)	100.25	100.25
January 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	86.47	86.07
Ceilings (in dollars per Mmbtu's/Bbl's)	94.39	94.65
January 2015 - December 2015 | Collars | Commodity contracts | Natural Gas	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	6,387,500	6,387,500
Floors (in dollars per Mmbtu's/Bbl's)	4	4
January 2015 - December 2015 | Collars | Commodity contracts | Natural Gas | Minimum	'	'
Derivative and hedging activities	'	'
Ceilings (in dollars per Mmbtu's/Bbl's)	4.55	4.55
January 2015 - December 2015 | Collars | Commodity contracts | Natural Gas | Maximum	'	'
Derivative and hedging activities	'	'
Ceilings (in dollars per Mmbtu's/Bbl's)	4.85	4.85
January 2015 - December 2015 | Collars | Commodity contracts | Natural Gas | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	4	4
Ceilings (in dollars per Mmbtu's/Bbl's)	4.68	4.68
January 2015 - December 2015 | Swaps | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	1,825,000	1,095,000
January 2015 - December 2015 | Swaps | Commodity contracts | Crude Oil | 730,000 Bbls | Extendable period through December 31, 2016	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	'	730,000
Floors (in dollars per Mmbtu's/Bbl's)	'	91.25
January 2015 - December 2015 | Swaps | Commodity contracts | Crude Oil | 365,000 Bbls | Extendable period through December 31, 2016	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	'	365,000
Floors (in dollars per Mmbtu's/Bbl's)	'	91
January 2015 - December 2015 | Swaps | Commodity contracts | Crude Oil | 732,000 Bbls | Extendable period through December 31, 2016	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	732,000	'
Floors (in dollars per Mmbtu's/Bbl's)	91.25	'
January 2015 - December 2015 | Swaps | Commodity contracts | Crude Oil | 366,000 Bbls | Extendable period through December 31, 2016	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	366,000	'
Floors (in dollars per Mmbtu's/Bbl's)	91	'
January 2015 - December 2015 | Swaps | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	91	91
January 2015 - December 2015 | Swaps | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	92.75	91.25
January 2015 - December 2015 | Swaps | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	91.76	91.17
March 2015 - December 2015 | Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	306,000	'
Floors (in dollars per Mmbtu's/Bbl's)	87.5	'
Ceilings (in dollars per Mmbtu's/Bbl's)	92.5	'
March 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	87.5	'
Ceilings (in dollars per Mmbtu's/Bbl's)	92.5	'
April 2015 - December 2015 | Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	412,500	'
Floors (in dollars per Mmbtu's/Bbl's)	87.5	'
Ceilings (in dollars per Mmbtu's/Bbl's)	92.5	'
April 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	87.5	'
Ceilings (in dollars per Mmbtu's/Bbl's)	92.5	'
July 2015 - December 2015 | Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	1,104,000	'
July 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	85	'
Ceilings (in dollars per Mmbtu's/Bbl's)	90	'
July 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	87.5	'
Ceilings (in dollars per Mmbtu's/Bbl's)	92.5	'
July 2015 - December 2015 | Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	85.83	'
Ceilings (in dollars per Mmbtu's/Bbl's)	90.92	'
January 2016 - June 2016 | Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	182,000	'
Floors (in dollars per Mmbtu's/Bbl's)	90	'
Ceilings (in dollars per Mmbtu's/Bbl's)	96.85	'
January 2016 - June 2016 | Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	90	'
Ceilings (in dollars per Mmbtu's/Bbl's)	96.85	'
January 2016 - December 2016 | Collars | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	1,830,000	'
January 2016 - December 2016 | Collars | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	87.5	'
Ceilings (in dollars per Mmbtu's/Bbl's)	92.7	'
January 2016 - December 2016 | Collars | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	90	'
Ceilings (in dollars per Mmbtu's/Bbl's)	95.1	'
January 2016 - December 2016 | Collars | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	88.55	'
Ceilings (in dollars per Mmbtu's/Bbl's)	93.84	'
January 2016 - December 2016 | Collars | Commodity contracts | Natural Gas	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	732,000	'
Floors (in dollars per Mmbtu's/Bbl's)	4	'
Ceilings (in dollars per Mmbtu's/Bbl's)	4.22	'
January 2016 - December 2016 | Collars | Commodity contracts | Natural Gas | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	4	'
Ceilings (in dollars per Mmbtu's/Bbl's)	4.22	'
January 2016 - December 2016 | Swaps | Commodity contracts | Crude Oil	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	2,928,000	2,190,000
January 2016 - December 2016 | Swaps | Commodity contracts | Crude Oil | 730,000 Bbls | Extendable period through December 31, 2017	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	730,000	730,000
Floors (in dollars per Mmbtu's/Bbl's)	88.25	88.25
January 2016 - December 2016 | Swaps | Commodity contracts | Crude Oil | 912,500 Bbls | Extendable period through December 31, 2017	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	912,500	912,500
Floors (in dollars per Mmbtu's/Bbl's)	88	88
January 2016 - December 2016 | Swaps | Commodity contracts | Crude Oil | 547,500 Bbls | Extendable period through December 31, 2017	'	'
Derivative and hedging activities	'	'
Volume in Mmbtu's/Bbl's	547,500	547,500
Floors (in dollars per Mmbtu's/Bbl's)	88.87	88.87
January 2016 - December 2016 | Swaps | Commodity contracts | Crude Oil | Minimum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	88	88
January 2016 - December 2016 | Swaps | Commodity contracts | Crude Oil | Maximum	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	91.5	88.87
January 2016 - December 2016 | Swaps | Commodity contracts | Crude Oil | Weighted Average	'	'
Derivative and hedging activities	'	'
Floors (in dollars per Mmbtu's/Bbl's)	89.04	88.3

ASSET_RETIREMENT_OBLIGATIONS_D

ASSET RETIREMENT OBLIGATIONS (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Activity related to ARO liability	'
Liability for asset retirement obligations at the beginning of the period	$39,257
Liabilities settled and divested	-8,039
Additions	1,988
Acquisitions	105
Accretion expense	948
Revisions in estimated cash flows	155
Liability for asset retirement obligations at the end of the period	$34,414

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	6 Months Ended					0 Months Ended	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Feb. 28, 2014	Jun. 30, 2014	Jun. 30, 2014	Dec. 20, 2013	Dec. 20, 2013
			Gathering, transportation and sales	Gathering, transportation and sales	Gathering, transportation and sales	Agreement	Agreement	Agreement	Agreement	Agreement
			North Dakota	North Dakota	North Dakota	Seller	Seller	Seller	Seller	Seller
			item	Minimum	Maximum	TMS	TMS	TMS	TMS	TMS
									acre	Maximum
COMMITMENTS AND CONTINGENCIES	'	'	'	'	'	'	'	'	'	'
Rent expense	$4,000,000	$4,400,000	'	'	'	'	'	'	'	'
Non-cancelable termination penalties	39,200,000	'	'	'	'	'	'	'	'	'
Total Obligation Amount	'	'	'	'	'	'	'	'	'	'
Drilling rig commitments	73,100,000	'	'	'	'	'	'	'	'	'
Office and equipment lease agreements amount	66,100,000	'	'	'	'	'	'	'	'	'
Commitments and contingencies	'	'	'	'	'	'	'	'	'	'
Number of long-term crude oil sales contracts to which the entity is committed	'	'	9	'	'	'	'	'	'	'
Number of long-term natural gas sales contracts to which the entity is committed	'	'	2	'	'	'	'	'	'	'
Period of commitment for production from the date of first production	'	'	'	'5 years	'10 years	'	'	'	'	'
Amount to be funded	'	'	'	'	'	'	'	'	'	189,400,000
Net acres exchanged for funding by entity	'	'	'	'	'	'	'	'	117,870	'
Carry Amount paid	$189,442,000	'	'	'	'	$62,500,000	$126,900,000	'	'	'
Percentage of working interest in the Carry Wells to be received	'	'	'	'	'	'	'	5.00%	'	'

MEZZANINE_EQUITY_Details

MEZZANINE EQUITY (Details) (USD $)	0 Months Ended	6 Months Ended
Share data in Thousands, unless otherwise specified	Jun. 16, 2014	Jun. 30, 2014
	multiple	item
Mezzanine equity	'	'
HK TMS, LLC preferred stock	'	$110,051,000
Tranche rights	'	4,516,000
Amount	'	'
HK TMS deemed dividends	'	403,000
Preferred Stock (Mezzanine Equity)	'	'
Mezzanine equity	'	'
Issuance of HK TMS, LLC preferred stock (in shares)	'	150
Shares	'	'
Issuance of HK TMS, LLC preferred stock (in shares)	'	150
Balances at end of period (in shares)	'	150
Amount	'	'
Issuance of HK TMS, LLC preferred stock	'	110,051,000
Offering costs	'	-2,416,000
HK TMS deemed dividends	'	403,000
Balances at end of period	'	108,038,000
HK TMS	'	'
Mezzanine equity	'	'
Number of quarterly dividend payments whose equivalent amount is to be maintained as minimum cash balance	'	2
Value of quarterly dividend payments whose equivalent amount is to be maintained as minimum cash balance	'	3,000,000
Additional amount to be maintained as cash balance	'	10,000,000
HK TMS | Preferred Stock (Mezzanine Equity)	'	'
Mezzanine equity	'	'
Proceeds received on sale of preferred shares	'	50,000,000
Total initial investment proceeds	'	50,000,000
HK TMS | Apollo | TMS	'	'
Mezzanine equity	'	'
Overriding royalty interest rate assigned in wells to be drilled, subject to reduction (as a percent)	4.00%	'
Maximum reduction in overriding royalty interest rate assigned in wells to be drilled under certain circumstances (as a percent)	2.00%	'
Number of wells to be drilled that are subject to overriding royalty interest	75	'
Number of net operated wells subject to overriding royalty interest	200	'
HK TMS | Apollo | Preferred Stock (Mezzanine Equity)	'	'
Mezzanine equity	'	'
Proceeds received on sale of preferred shares	150,000,000	150,000,000
Issuance of HK TMS, LLC preferred stock (in shares)	150	'
Dividend rate (as a percent)	8.00%	'
Rate of return on preferred shares (as a percent)	12.00%	'
Multiple factor on investment	1.25	'
Number of wells committed to be drilled	'	6.5
Number of consecutive twelve month periods beginning June 16, 2014 for wells committed to be drilled	'	6
HK TMS, LLC preferred stock	'	110,051,000
Tranche rights	'	4,516,000
Overriding royalty interest	'	34,576,000
Other	'	857,000
Total initial investment proceeds	150,000,000	150,000,000
Shares	'	'
Issuance of HK TMS, LLC preferred stock (in shares)	150	'
HK TMS | Apollo | Preferred Stock (Mezzanine Equity) | Maximum	'	'
Mezzanine equity	'	'
Additional preferred shares available for issuance	250	'
Consideration upon issuance of additional preferred shares	$250,000,000	'

STOCKHOLDERS_EQUITY_Details

STOCKHOLDERS' EQUITY (Details) (USD $)	6 Months Ended	12 Months Ended	1 Months Ended			0 Months Ended			0 Months Ended		6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Feb. 29, 2012	Aug. 30, 2012	Aug. 30, 2012	Aug. 13, 2013	22-May-14	Jan. 17, 2013	Jun. 02, 2014	Jun. 18, 2013	Jun. 30, 2014
			February 2012 Warrants	GeoResources Warrants	August 2012 Warrants	Common Stock	Common Stock	Common Stock	5.75% Series A Convertible Perpetual Preferred Stock	5.75% Series A Convertible Perpetual Preferred Stock	5.75% Series A Convertible Perpetual Preferred Stock
				GeoResources	GeoResources						item
Preferred stock and stockholders' equity	'	'	'	'	'	'	'	'	'	'	'
Shares issued	'	'	'	'	'	43,700,000	'	'	'	345,000	'
Dividend rate (as a percent)	5.75%	5.75%	'	'	'	'	'	'	'	'	5.75%
Share price (in dollars per share)	'	'	'	'	'	'	'	'	'	$1,000	'
Net proceeds received	'	'	'	'	'	'	'	'	'	$335,200,000	'
Payment of cumulative, declared dividends	'	'	'	'	'	'	'	'	5,000,000	'	'
Number of shares issued	'	'	'	'	'	'	'	'	900,000	'	'
Cumulative, undeclared dividends	'	'	'	'	'	'	'	'	'	'	1,700,000
Number of shares of common stock to be issued upon conversion	'	'	'	'	'	'	'	'	'	'	162.4431
Benefit from conversion of stock (in dollars per share)	'	'	'	'	'	'	'	'	'	'	$6.16
Number of shares of common stock to be issued upon conversion at initial conversion rate	'	'	'	'	'	'	'	'	'	'	56,000,000
Closing sale price of common stock as minimum percentage of the conversion price to automatically convert preferred stock into common stock	'	'	'	'	'	'	'	'	'	'	150.00%
Minimum number of trading days within 30 consecutive trading days during which the closing sales price of common stock per share must exceed the conversion price for the preferred stocks to be redeemable	'	'	'	'	'	'	'	'	'	'	20
Number of consecutive trading day periods within which the closing sale price of common stock price per share must exceed the conversion price for at least 20 trading days for the preferred stocks to be redeemable	'	'	'	'	'	'	'	'	'	'	'30 days
Liquidation preference per share (in dollars per share)	'	'	'	'	'	'	'	'	'	'	$1,000
Number of consecutive trading day periods ending on the third business day prior to settlement date	'	'	'	'	'	'	'	'	'	'	'5 days
Number of shares of common stock to be issued upon conversion on fundamental change	'	'	'	'	'	'	'	'	'	'	292.3977
Threshold period of dividends in arrears and unpaid which will give holders of the Convertible Preferred Stock voting rights	'	'	'	'	'	'	'	'	'	'	'18 months
Number of additional directors that can be appointed by holders of the Convertible Preferred Stock until arrearage is paid in full	'	'	'	'	'	'	'	'	'	'	2
Proceeds from the offering of common stock	'	222,870,000	'	'	'	215,200,000	'	'	'	'	'
Increase in shares of common stock authorized	'	'	'	'	'	'	670,000,000	333,300,000	'	'	'
Authorized shares of common stock, after amendment of certificate of incorporation	1,340,000,000	670,000,000	'	'	'	'	1,340,000,000	670,000,000	'	'	'
Number of shares of common stock that can be purchased from warrants	'	'	36,700,000	'	1	'	'	'	'	'	'
Exercise price (in dollars per share)	'	'	$4.50	'	$8.40	'	'	'	'	'	'
Proceeds from issuance of warrants	'	'	43,600,000	'	'	'	'	'	'	'	'
Payment for capital commitment	'	'	$600,000	'	'	'	'	'	'	'	'
Warrants outstanding	'	'	'	600,000	1,200,000	'	'	'	'	'	'
Cash Portion (in dollars per share)	'	'	'	'	$20	'	'	'	'	'	'
Cash exercise price per $1.00 received	'	'	'	'	$0.82	'	'	'	'	'	'

STOCKHOLDERS_EQUITY_Details_2

STOCKHOLDERS' EQUITY (Details 2) (USD $)

3 Months Ended

6 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

In Millions, except Share data, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

23-May-13

17-May-12

General and administrative

General and administrative

General and administrative

General and administrative

Performance share units (PSU)

Performance share units (PSU)

Performance share units (PSU)

Performance share units (PSU)

Performance share units (PSU)

Performance share units (PSU)

Performance share units (PSU)

Performance share units (PSU)

Performance share units (PSU)

Performance share units (PSU)

Stock options

Stock options

Stock options

Stock options

Stock options

Stock options

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

2006 Long-Term Incentive Plan

2006 Long-Term Incentive Plan

2006 Long-Term Incentive Plan

2006 Long-Term Incentive Plan

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Low end of range

High end of range

Low end of range

Low end of range

High end of range

High end of range

Employee

Employee

Directors and employees

Directors and employees

Non-employee director

Non-employee director

Low end of range

Low end of range

High end of range

High end of range

Common Stock

Common Stock

Common Stock

Common Stock

$4.00

$7.00

$10.00

$5.50

$8.50

Senior management

Common Stock

Common Stock

$4.00

Stock-based compensation

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares issuable under the plan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

41,500,000

11,500,000

Maximum number of shares that remained reserved for issuance under the Plan

'

'

'

'

'

'

'

'

'

'

'

'

'

3,200,000

6,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

13,200,000

25,700,000

'

'

Compensation expense recorded

$4.90

$4.60

$9.20

$7

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Granted (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,900,000

3,200,000

'

'

'

'

'

'

'

'

'

'

Exercise price (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$3.67

$5.21

$6.58

$8.23

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average exercise price (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$3.69

$7.10

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Vesting period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'3 years

'3 years

'

'

'

'

'

'

'3 years

'3 years

'

'

'6 months

'6 months

'

'

'

'

'

'

'

'

Percentage of awards vesting on the annual anniversary date of the grant

'

'

'

'

'

'

'

'

'

'

'

'

'

'

33.33%

33.33%

'

'

'

'

'

'

33.33%

33.33%

'

'

'

'

'

'

'

'

'

'

'

'

Expiration term

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'10 years

'10 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrecognized compensation expense

'

'

'

'

'

'

'

'

'

'

'

'

'

'

16.9

19.5

'

'

'

'

17.9

18.1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average remaining vesting period

'

'

'

'

'2 years 8 months 12 days

'

'

'

'

'

'

'

'

'

'1 year 3 months 18 days

'1 year 6 months

'

'

'

'

'1 year 4 months 24 days

'1 year 6 months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Grant date price (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$3.67

$5.15

$6.58

$7.65

'

'

'

'

Weighted average grant date price (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$3.84

$6.92

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Performance Share Units

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Granted (in shares)

'

'

'

'

'

'

'

'

'

'

'

1,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of trading days considered to measure the average of adjusted closing price of common stock

'

'

'

'

'

'60 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Average market price (in dollars per share)

'

'

'

'

'

'

'

$7

$10

$5.50

$8.50

'

$4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Entitlement percentage of shares underlining awards, to be received and vested

'

'

'

'

'

'

50.00%

'

200.00%

75.00%

150.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrecognized compensation expense

'

'

'

'

$4.40

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Treasury Stock

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Restricted stock granted to directors and employees under the Plan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,900,000

3,200,000

'

'

'

'

'

'

'

'

'

'

Shares issued out of treasury stock

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,200,000

'

'

'

'

'

'

'

'

'

'

Shares retired

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

400,000

'

'

'

'

'

'

'

'

'

'

Treasury stock, shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

0

'

'

'

'

'

'

'

'

'

'

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
INCOME TAXES	'	'	'	'
Period of cumulative book loss that limits ability to consider other subjective evidence for growth	'	'	'3 years	'
Income tax expense or benefit	'	($23,121)	'	($26,415)
Pre-tax income (loss)	($67,477)	$60,209	($140,441)	$68,968
Effective income tax rate (as a percent)	'	'	0.00%	38.30%

EARNINGS_PER_COMMON_SHARE_Deta

EARNINGS PER COMMON SHARE (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Basic:	'	'	'	'
Net income (loss) available to common stockholders	($73,333)	$36,372	($151,256)	$41,837
Weighted average basic number of common shares outstanding	414,722,000	366,712,000	414,125,000	356,482,000
Basic net income (loss) per common share (in dollars per share)	($0.18)	$0.10	($0.37)	$0.12
Diluted:	'	'	'	'
Net income (loss) available to common stockholders	-73,333	36,372	-151,256	41,837
Interest on convertible debt, net	'	974	'	1,974
Net income (loss) available to common stockholders after assumed conversions	($73,333)	$37,346	($151,256)	$43,811
Weighted average basic number of common shares outstanding	414,722,000	366,712,000	414,125,000	356,482,000
Common stock equivalent shares representing shares issuable upon exercise of February 2012 Warrants	'	9,954,000	'	12,183,000
Common stock equivalent shares representing shares issuable upon vesting of restricted shares	'	108,000	'	682,000
Common stock equivalent shares representing shares issuable upon conversion of 2017 Notes	'	64,371,000	'	32,185,000
Common stock equivalent shares representing shares issuable upon conversion of preferred stock	'	'	'	10,880,000
Weighted average diluted number of common shares outstanding	414,722,000	441,145,000	414,125,000	412,412,000
Diluted net income (loss) per common share (in dollars per share)	($0.18)	$0.08	($0.37)	$0.11
Common stock equivalents of stock options, restricted shares, performance units, warrants and convertible debt and convertible preferred stock, not included in the computations of diluted earnings per share of common stock as their effect would have been anti-dilutive (in shares)	179,900,000	17,100,000	176,800,000	43,900,000

ADDITIONAL_FINANCIAL_STATEMENT2

ADDITIONAL FINANCIAL STATEMENT INFORMATION (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Accounts receivable:	'	'
Oil, natural gas and natural gas liquids revenues	$188,802	$129,355
Joint interest accounts	118,561	170,907
Affiliated partnership	234	500
Other	1,282	11,756
Total	308,879	312,518
Prepaids and other:	'	'
Prepaids	7,691	5,636
Income tax receivable	5,403	10,404
Other	1,085	58
Total	14,179	16,098
Accounts payable and accrued liabilities:	'	'
Trade payables	119,823	87,661
Accrued oil and natural gas capital costs	234,940	292,472
Revenues and royalties payable	155,927	124,222
Accrued interest expense	82,564	82,570
Accrued employee compensation	9,803	2,272
Accrued lease operating expense	25,063	21,469
Drilling advances from partners	29,361	24,882
Affiliated partnership	866	679
Other	287	362
Total	$658,634	$636,589

CONDENSED_CONSOLIDATING_FINANC2

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Details) (USD $)	3 Months Ended			6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Oil, natural gas and natural gas liquids sales:	'	'	'	'	'	'
Oil	$304,212	'	$202,490	$560,241	$383,317	'
Natural gas	10,308	'	6,845	19,717	12,514	'
Natural gas liquids	9,364	'	4,254	18,123	8,082	'
Total oil, natural gas and natural gas liquids sales	323,884	'	213,589	598,081	403,913	'
Other	3,260	'	754	4,212	1,284	'
Total operating revenues	327,144	'	214,343	602,293	405,197	'
Production:	'	'	'	'	'	'
Lease operating	30,968	'	31,833	67,606	57,137	'
Workover and other	3,988	'	623	6,777	2,247	'
Taxes other than income	30,310	'	18,567	54,470	36,003	'
Gathering and other	5,898	'	2,802	10,659	3,135	'
Restructuring	'	'	-164	987	507	'
General and administrative	27,743	'	33,526	60,541	65,123	'
Depletion, depreciation and accretion	133,470	'	95,315	253,378	177,173	'
Full cost ceiling impairment	'	61,200	'	61,165	'	'
Other operating property and equipment impairment	3,477	'	'	3,789	'	'
Total operating expenses	235,854	'	182,502	519,372	341,325	'
Income (loss) from operations	91,290	'	31,841	82,921	63,872	'
Other income (expenses):	'	'	'	'	'	'
Net gain (loss) on derivative contracts	-121,042	'	34,100	-154,698	15,678	'
Interest expense and other, net	-37,725	'	-5,732	-68,664	-10,582	'
Total other income (expenses)	-158,767	'	28,368	-223,362	5,096	'
Income (loss) before income taxes	-67,477	'	60,209	-140,441	68,968	'
Income tax benefit (provision)	'	'	-23,121	'	-26,415	'
Net income (loss)	-67,477	'	37,088	-140,441	42,553	-1,222,662
Series A preferred dividends	-4,960	'	-716	-9,919	-716	'
Preferred dividends on redeemable noncontrolling interest	896	'	'	896	'	'
Net income (loss) available to common stockholders	-73,333	'	36,372	-151,256	41,837	'
Parent Company	'	'	'	'	'	'
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS	'	'	'	'	'	'
Ownership percentage in subsidiaries	100.00%	'	'	100.00%	'	'
Reportable legal entities | Parent Company	'	'	'	'	'	'
Production:	'	'	'	'	'	'
Taxes other than income	76	'	'	152	'	'
General and administrative	16,534	'	'	37,259	'	'
Depletion, depreciation and accretion	605	'	'	1,353	'	'
Total operating expenses	17,215	'	'	38,764	'	'
Income (loss) from operations	-17,215	'	'	-38,764	'	'
Other income (expenses):	'	'	'	'	'	'
Interest expense and other, net	-79,497	'	'	-158,095	'	'
Total other income (expenses)	-79,497	'	'	-158,095	'	'
Income (loss) before income taxes	-96,712	'	'	-196,859	'	'
Equity in earnings of subsidiary, net of tax	28,339	'	'	55,522	'	'
Net income (loss)	-68,373	'	'	-141,337	'	'
Series A preferred dividends	-4,960	'	'	-9,919	'	'
Net income (loss) available to common stockholders	-73,333	'	'	-151,256	'	'
Reportable legal entities | Guarantor Subsidiaries	'	'	'	'	'	'
Oil, natural gas and natural gas liquids sales:	'	'	'	'	'	'
Oil	302,520	'	'	558,549	'	'
Natural gas	10,308	'	'	19,717	'	'
Natural gas liquids	9,364	'	'	18,123	'	'
Total oil, natural gas and natural gas liquids sales	322,192	'	'	596,389	'	'
Other	6,792	'	'	7,744	'	'
Total operating revenues	328,984	'	'	604,133	'	'
Production:	'	'	'	'	'	'
Lease operating	30,842	'	'	67,480	'	'
Workover and other	3,988	'	'	6,777	'	'
Taxes other than income	30,131	'	'	54,215	'	'
Gathering and other	5,898	'	'	10,659	'	'
Restructuring	'	'	'	987	'	'
General and administrative	11,071	'	'	23,144	'	'
Depletion, depreciation and accretion	131,736	'	'	250,896	'	'
Full cost ceiling impairment	'	'	'	61,165	'	'
Other operating property and equipment impairment	3,477	'	'	3,789	'	'
Total operating expenses	217,143	'	'	479,112	'	'
Income (loss) from operations	111,841	'	'	125,021	'	'
Other income (expenses):	'	'	'	'	'	'
Net gain (loss) on derivative contracts	-121,042	'	'	-154,698	'	'
Interest expense and other, net	41,765	'	'	89,424	'	'
Total other income (expenses)	-79,277	'	'	-65,274	'	'
Income (loss) before income taxes	32,564	'	'	59,747	'	'
Income tax benefit (provision)	-128	'	'	-128	'	'
Equity in earnings of subsidiary, net of tax	-4,097	'	'	-4,097	'	'
Net income (loss)	28,339	'	'	55,522	'	'
Net income (loss) available to common stockholders	28,339	'	'	55,522	'	'
Reportable legal entities | Non Guarantor Subsidiaries	'	'	'	'	'	'
Oil, natural gas and natural gas liquids sales:	'	'	'	'	'	'
Oil	1,692	'	'	1,692	'	'
Total oil, natural gas and natural gas liquids sales	1,692	'	'	1,692	'	'
Total operating revenues	1,692	'	'	1,692	'	'
Production:	'	'	'	'	'	'
Lease operating	126	'	'	126	'	'
Taxes other than income	103	'	'	103	'	'
General and administrative	2,276	'	'	2,276	'	'
Depletion, depreciation and accretion	722	'	'	722	'	'
Total operating expenses	3,227	'	'	3,227	'	'
Income (loss) from operations	-1,535	'	'	-1,535	'	'
Other income (expenses):	'	'	'	'	'	'
Interest expense and other, net	7	'	'	7	'	'
Total other income (expenses)	7	'	'	7	'	'
Income (loss) before income taxes	-1,528	'	'	-1,528	'	'
Income tax benefit (provision)	-562	'	'	-562	'	'
Net income (loss)	-2,090	'	'	-2,090	'	'
Preferred dividends on redeemable noncontrolling interest	-896	'	'	-896	'	'
Net income (loss) available to common stockholders	-2,986	'	'	-2,986	'	'
Eliminations	'	'	'	'	'	'
Oil, natural gas and natural gas liquids sales:	'	'	'	'	'	'
Other	-3,532	'	'	-3,532	'	'
Total operating revenues	-3,532	'	'	-3,532	'	'
Production:	'	'	'	'	'	'
General and administrative	-2,138	'	'	-2,138	'	'
Depletion, depreciation and accretion	407	'	'	407	'	'
Total operating expenses	-1,731	'	'	-1,731	'	'
Income (loss) from operations	-1,801	'	'	-1,801	'	'
Other income (expenses):	'	'	'	'	'	'
Income (loss) before income taxes	-1,801	'	'	-1,801	'	'
Income tax benefit (provision)	690	'	'	690	'	'
Equity in earnings of subsidiary, net of tax	-24,242	'	'	-51,425	'	'
Net income (loss)	-25,353	'	'	-52,536	'	'
Net income (loss) available to common stockholders	($25,353)	'	'	($52,536)	'	'

CONDENSED_CONSOLIDATING_FINANC3

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Details 2) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current assets:	'	'	'
Cash	$161,272	$2,834	'
Accounts receivable	308,879	312,518	'
Receivables from derivative contracts	343	2,028	'
Current portion of deferred income taxes	7,789	'	'
Restricted cash	16,000	'	'
Inventory	6,091	5,148	'
Prepaids and other	14,179	16,098	'
Total current assets	514,553	338,626	'
Oil and natural gas properties (full cost method):	'	'	'
Evaluated	5,267,835	4,960,467	'
Unevaluated	2,245,173	2,028,044	'
Gross oil and natural gas properties	7,513,008	6,988,511	'
Less - accumulated depletion	-2,498,864	-2,189,515	'
Net oil and natural gas properties	5,014,144	4,798,996	'
Other operating property and equipment:	'	'	'
Gas gathering and other operating assets	144,795	125,837	'
Less - accumulated depreciation	-11,736	-8,461	'
Net other operating property and equipment	133,059	117,376	'
Other noncurrent assets:	'	'	'
Receivables from derivative contracts	351	22,734	'
Debt issuance costs, net	59,476	64,308	'
Equity in oil and natural gas partnership	4,706	4,463	'
Funds in escrow and other	2,350	1,514	'
Total assets	5,728,639	5,356,491	'
Current liabilities:	'	'	'
Accounts payable and accrued liabilities	658,634	636,589	'
Liabilities from derivative contracts	79,844	17,859	'
Asset retirement obligations	54	71	'
Current portion of deferred income taxes	'	8,474	'
Current portion of long-term debt	1,389	1,389	'
Total current liabilities	739,921	664,382	'
Long-term debt	3,445,638	3,183,823	'
Other noncurrent liabilities:	'	'	'
Liabilities from derivative contracts	65,359	19,333	'
Asset retirement obligations	34,360	39,186	'
Deferred income taxes	7,789	'	'
Other	8,059	2,157	'
Commitments and contingencies	'	'	'
Mezzanine equity:	'	'	'
Redeemable noncontrolling interest	108,038	'	'
Stockholders' equity:	'	'	'
Preferred stock	'	'	'
Common stock	41	41	'
Additional paid-in capital	2,976,907	2,953,786	'
Retained earnings (accumulated deficit)	-1,657,473	-1,506,217	'
Total stockholders' equity	1,319,475	1,447,610	1,397,982
Total liabilities and stockholders' equity	5,728,639	5,356,491	'
Reportable legal entities | Parent Company	'	'	'
Current assets:	'	'	'
Prepaids and other	1,028	'	'
Total current assets	1,028	'	'
Other operating property and equipment:	'	'	'
Gas gathering and other operating assets	14,354	'	'
Less - accumulated depreciation	-5,228	'	'
Net other operating property and equipment	9,126	'	'
Other noncurrent assets:	'	'	'
Debt issuance costs, net	59,476	'	'
Intercompany notes and accounts receivable	4,743,524	'	'
Investment in subsidiary	163,524	'	'
Funds in escrow and other	515	'	'
Total assets	4,977,193	'	'
Current liabilities:	'	'	'
Current portion of deferred income taxes	1,848	'	'
Total current liabilities	1,848	'	'
Long-term debt	3,445,638	'	'
Other noncurrent liabilities:	'	'	'
Intercompany notes and accounts payable	210,232	'	'
Commitments and contingencies	'	'	'
Stockholders' equity:	'	'	'
Preferred stock	'	'	'
Common stock	41	'	'
Additional paid-in capital	2,976,907	'	'
Retained earnings (accumulated deficit)	-1,657,473	'	'
Total stockholders' equity	1,319,475	'	'
Total liabilities and stockholders' equity	4,977,193	'	'
Reportable legal entities | Guarantor Subsidiaries	'	'	'
Current assets:	'	'	'
Cash	357	'	'
Accounts receivable	301,924	'	'
Receivables from derivative contracts	343	'	'
Current portion of deferred income taxes	9,637	'	'
Inventory	6,091	'	'
Prepaids and other	13,151	'	'
Total current assets	331,503	'	'
Oil and natural gas properties (full cost method):	'	'	'
Evaluated	5,258,205	'	'
Unevaluated	1,887,916	'	'
Gross oil and natural gas properties	7,146,121	'	'
Less - accumulated depletion	-2,497,664	'	'
Net oil and natural gas properties	4,648,457	'	'
Other operating property and equipment:	'	'	'
Gas gathering and other operating assets	130,351	'	'
Less - accumulated depreciation	-6,504	'	'
Net other operating property and equipment	123,847	'	'
Other noncurrent assets:	'	'	'
Receivables from derivative contracts	351	'	'
Intercompany notes and accounts receivable	210,232	'	'
Investment in subsidiary	405,599	'	'
Equity in oil and natural gas partnership	4,706	'	'
Funds in escrow and other	1,835	'	'
Total assets	5,726,530	'	'
Current liabilities:	'	'	'
Accounts payable and accrued liabilities	628,027	'	'
Liabilities from derivative contracts	79,844	'	'
Asset retirement obligations	54	'	'
Current portion of long-term debt	1,389	'	'
Total current liabilities	709,314	'	'
Other noncurrent liabilities:	'	'	'
Liabilities from derivative contracts	65,359	'	'
Asset retirement obligations	34,207	'	'
Deferred income taxes	7,789	'	'
Intercompany notes and accounts payable	4,743,652	'	'
Other	2,685	'	'
Commitments and contingencies	'	'	'
Stockholders' equity:	'	'	'
Preferred stock	'	'	'
Retained earnings (accumulated deficit)	163,524	'	'
Total stockholders' equity	163,524	'	'
Total liabilities and stockholders' equity	5,726,530	'	'
Reportable legal entities | Non Guarantor Subsidiaries	'	'	'
Current assets:	'	'	'
Cash	160,915	'	'
Accounts receivable	9,838	'	'
Restricted cash	16,000	'	'
Total current assets	186,753	'	'
Oil and natural gas properties (full cost method):	'	'	'
Evaluated	11,024	'	'
Unevaluated	357,257	'	'
Gross oil and natural gas properties	368,281	'	'
Less - accumulated depletion	-793	'	'
Net oil and natural gas properties	367,488	'	'
Other operating property and equipment:	'	'	'
Gas gathering and other operating assets	90	'	'
Less - accumulated depreciation	-4	'	'
Net other operating property and equipment	86	'	'
Other noncurrent assets:	'	'	'
Total assets	554,327	'	'
Current liabilities:	'	'	'
Accounts payable and accrued liabilities	33,490	'	'
Total current liabilities	33,490	'	'
Other noncurrent liabilities:	'	'	'
Asset retirement obligations	153	'	'
Intercompany notes and accounts payable	562	'	'
Other	5,374	'	'
Commitments and contingencies	'	'	'
Mezzanine equity:	'	'	'
Redeemable noncontrolling interest	108,038	'	'
Stockholders' equity:	'	'	'
Preferred stock	'	'	'
Additional paid-in capital	409,696	'	'
Retained earnings (accumulated deficit)	-2,986	'	'
Total stockholders' equity	406,710	'	'
Total liabilities and stockholders' equity	554,327	'	'
Eliminations	'	'	'
Current assets:	'	'	'
Accounts receivable	-2,883	'	'
Current portion of deferred income taxes	-1,848	'	'
Total current assets	-4,731	'	'
Oil and natural gas properties (full cost method):	'	'	'
Evaluated	-1,394	'	'
Gross oil and natural gas properties	-1,394	'	'
Less - accumulated depletion	-407	'	'
Net oil and natural gas properties	-1,801	'	'
Other noncurrent assets:	'	'	'
Intercompany notes and accounts receivable	-4,953,756	'	'
Investment in subsidiary	-569,123	'	'
Total assets	-5,529,411	'	'
Current liabilities:	'	'	'
Accounts payable and accrued liabilities	-2,883	'	'
Current portion of deferred income taxes	-1,848	'	'
Total current liabilities	-4,731	'	'
Other noncurrent liabilities:	'	'	'
Intercompany notes and accounts payable	-4,954,446	'	'
Commitments and contingencies	'	'	'
Stockholders' equity:	'	'	'
Preferred stock	'	'	'
Additional paid-in capital	-409,696	'	'
Retained earnings (accumulated deficit)	-160,538	'	'
Total stockholders' equity	-570,234	'	'
Total liabilities and stockholders' equity	($5,529,411)	'	'

CONDENSED_CONSOLIDATING_FINANC4

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Details 3) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net cash provided by (used in) operating activities	$410,942	$231,366
Cash flows from investing activities:	'	'
Oil and natural gas capital expenditures	-853,738	-1,036,456
Proceeds received from sale of oil and natural gas assets	465,452	10,466
Advance on carried interest	-189,442	'
Other operating property and equipment capital expenditures	-29,525	-80,692
Funds held in escrow and other	-307	-30,805
Net cash provided by (used in) investing activities	-607,560	-1,167,226
Cash flows from financing activities:	'	'
Proceeds from borrowings	1,286,000	1,528,000
Repayments of borrowings	-1,027,000	-915,400
Debt issuance costs	-77	-11,527
HK TMS,LLC preferred stock issued	110,051	'
HK TMS,LLC tranche rights	4,516	'
HK TMS,LLC preferred stock dividends	-493	'
Restricted cash	-16,000	'
Offering costs and other	-1,941	-9,658
Net cash provided by (used in) financing activities	355,056	936,415
Net increase (decrease) in cash	158,438	555
Cash at beginning of period	2,834	2,506
Cash at end of period	161,272	3,061
Reportable legal entities | Parent Company	'	'
Cash flows from operating activities:	'	'
Net cash provided by (used in) operating activities	-185,017	'
Cash flows from investing activities:	'	'
Other operating property and equipment capital expenditures	-1,277	'
Advances to subsidiary	-69,223	'
Net cash provided by (used in) investing activities	-70,500	'
Cash flows from financing activities:	'	'
Proceeds from borrowings	1,286,000	'
Repayments of borrowings	-1,027,000	'
Debt issuance costs	-77	'
Offering costs and other	-3,407	'
Net cash provided by (used in) financing activities	255,516	'
Net increase (decrease) in cash	-1	'
Cash at beginning of period	1	'
Reportable legal entities | Guarantor Subsidiaries	'	'
Cash flows from operating activities:	'	'
Net cash provided by (used in) operating activities	592,504	'
Cash flows from investing activities:	'	'
Oil and natural gas capital expenditures	-841,905	'
Proceeds received from sale of oil and natural gas assets	431,635	'
Advance on carried interest	-62,500	'
Other operating property and equipment capital expenditures	-28,248	'
Advances to subsidiary	-162,878	'
Funds held in escrow and other	-307	'
Net cash provided by (used in) investing activities	-664,203	'
Cash flows from financing activities:	'	'
Proceeds from subsidiary	69,223	'
Net cash provided by (used in) financing activities	69,223	'
Net increase (decrease) in cash	-2,476	'
Cash at beginning of period	2,833	'
Cash at end of period	357	'
Reportable legal entities | Non Guarantor Subsidiaries	'	'
Cash flows from operating activities:	'	'
Net cash provided by (used in) operating activities	4,849	'
Cash flows from investing activities:	'	'
Oil and natural gas capital expenditures	-13,227	'
Proceeds received from sale of oil and natural gas assets	33,817	'
Advance on carried interest	-126,942	'
Net cash provided by (used in) investing activities	-106,352	'
Cash flows from financing activities:	'	'
HK TMS,LLC preferred stock issued	110,051	'
HK TMS,LLC tranche rights	4,516	'
HK TMS,LLC preferred stock dividends	-493	'
Restricted cash	-16,000	'
Proceeds from subsidiary	162,878	'
Offering costs and other	1,466	'
Net cash provided by (used in) financing activities	262,418	'
Net increase (decrease) in cash	160,915	'
Cash at end of period	160,915	'
Eliminations	'	'
Cash flows from operating activities:	'	'
Net cash provided by (used in) operating activities	-1,394	'
Cash flows from investing activities:	'	'
Oil and natural gas capital expenditures	1,394	'
Advances to subsidiary	232,101	'
Net cash provided by (used in) investing activities	233,495	'
Cash flows from financing activities:	'	'
Proceeds from subsidiary	-232,101	'
Net cash provided by (used in) financing activities	($232,101)	'