Battalion Oil (BATL) 10-K26 Feb 152014 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Billions, except Share data, unless otherwise specified	Dec. 31, 2014	Feb. 23, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	HALCON RESOURCES CORP
Entity Central Index Key	1282648
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$1.80
Entity Common Stock, Shares Outstanding		428,086,266
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2012
Oil, natural gas and natural gas liquids sales:
Oil	$223,056
Natural gas	12,735
Natural gas liquids	11,180
Total oil, natural gas and natural gas liquids sales	246,971
Other	1,351
Total operating revenues	248,322
Production:
Lease operating	49,859
Workover and other	4,429
Taxes other than income	19,253
Gathering and other	459
Restructuring	2,406
General and administrative	111,349
Depletion, depreciation and accretion	90,284
Total operating expenses	278,039
Income (loss) from operations	-29,717
Other income (expenses):
Net gain (loss) on derivative contracts	-6,126
Interest expense and other, net	-31,223
Total other income (expenses)	-37,349
Income (loss) before income taxes	-67,066
Income tax benefit (provision)	13,181
Net income (loss)	-53,885
Non-cash preferred dividends	-88,445
Net income (loss) available to common stockholders	($142,330)
Net income (loss) per share of common stock:
Basic (in dollars per share)	($0.91)
Diluted (in dollars per share)	($0.91)
Weighted average common shares outstanding:
Basic (in shares)	156,494
Diluted (in shares)	156,494

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Current assets:
Cash	$43,713	$2,834
Accounts receivable	276,559	312,518
Receivables from derivative contracts	352,530	2,028
Restricted cash	16,131
Inventory	4,693	5,148
Prepaids and other	9,079	16,098
Total current assets	702,705	338,626
Oil and natural gas properties (full cost method):
Evaluated	6,390,820	4,960,467
Unevaluated	1,829,786	2,028,044
Gross oil and natural gas properties	8,220,606	6,988,511
Less - accumulated depletion	-2,953,038	-2,189,515
Net oil and natural gas properties	5,267,568	4,798,996
Other operating property and equipment:
Gas gathering and other operating assets	126,804	125,837
Less - accumulated depreciation	-14,798	-8,461
Net other operating property and equipment	112,006	117,376
Other noncurrent assets:
Receivables from derivative contracts	151,324	22,734
Debt issuance costs, net	55,904	64,308
Deferred income taxes	136,826	8,474
Equity in oil and natural gas partnership	4,309	4,463
Funds in escrow and other	3,833	1,514
Total assets	6,434,475	5,356,491
Current liabilities:
Accounts payable and accrued liabilities	607,750	636,589
Liabilities from derivative contracts		17,859
Asset retirement obligations	106	71
Current portion of deferred income taxes	136,826	8,474
Current portion of long-term debt		1,389
Total current liabilities	744,682	664,382
Long -term debt	3,746,736	3,183,823
Other noncurrent liabilities:
Liabilities from derivative contracts	9,387	19,333
Asset retirement obligations	38,371	39,186
Other	5,964	2,157
Commitments and contingencies (Note 10)
Mezzanine equity:
Redeemable noncontrolling interest	117,166
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 December 31, 2014 and 2013
Common stock: 1,340,000,000 and 670,000,000 shares of $0.0001 par value authorized; 427,808,306 and 415,729,962 shares issued and outstanding at December 31, 2014 and 2013, respectively	42	41
Additional paid-in capital	2,995,402	2,953,786
Accumulated deficit	-1,223,275	-1,506,217
Total stockholders' equity	1,772,169	1,447,610	1,397,982	1,680
Total liabilities and stockholders' equity	$6,434,475	$5,356,491

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	12 Months Ended
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 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	427,808,306	415,729,962
Common stock, shares outstanding	427,808,306	415,729,962

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)	Preferred Stock	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Deficit	Total
Balances at Dec. 31, 2011				($7,159,000)
Balances at Dec. 31, 2011		3,000	229,414,000		-220,578,000	1,680,000
Balances (in shares) at Dec. 31, 2011				1,450,000
Balances (in shares) at Dec. 31, 2011		27,695,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)					-53,885,000	-53,885,000
Warrants issued			43,590,000			43,590,000
Sale of common stock		11,000	568,989,000			569,000,000
Sale of common stock (in shares)		115,232,000
Reverse-stock-split rounding (in shares)		4,000
Preferred stock conversion	-385,476,000	5,000	385,471,000
Preferred stock conversion (in shares)	-4,000	44,445,000
Offering costs	-14,525,000		-5,078,000			-19,603,000
Common stock issuance		7,000	452,032,000			452,039,000
Common stock issuance (in shares)		72,114,000
Sale of preferred stock	311,556,000					311,556,000
Sale of preferred stock (in shares)	4,000
Preferred beneficial conversion feature			88,445,000			88,445,000
Non-cash preferred dividend	88,445,000		-88,445,000
Long-term incentive plan grants (in shares)		312,000
Repurchase of stock				-2,139,000		-2,139,000
Repurchase of stock (in shares)				200,000
Share-based compensation			7,299,000			7,299,000
Balances at Dec. 31, 2012				-9,298,000
Balances at Dec. 31, 2012		26,000	1,681,717,000		-274,463,000	1,397,982,000
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)					-1,222,662,000	-1,222,662,000
Preferred stock conversion		11,000	695,227,000			695,238,000
Preferred stock conversion (in shares)		108,801,000
Offering costs			-17,346,000			-17,346,000
Common stock issuance		4,000	222,866,000			222,870,000
Common stock issuance (in shares)		43,700,000
Dividends on Series A preferred stock			9,092,000		-9,092,000	-10,745,000
Dividends on Series A preferred stock (in shares)		2,045,000
Sale of Series A preferred stock			345,000,000			345,000,000
Sale of Series A preferred stock (in shares)	345,000
Long-term incentive plan grants (in shares)		3,267,000
Share-based compensation			26,676,000			26,676,000
Long-term incentive plan forfeitures (in shares)		-205,000
Reduction in shares to cover individuals' tax withholding			-148,000			-148,000
Reduction in shares to cover individuals' tax withholding (in shares)		-30,000
Retirement of shares in treasury			-2,492,000	-2,492,000
Retirement of shares in treasury (in shares)		-442,000		-442,000
Long-term incentive plan grants issued out of treasury			-6,806,000	6,806,000
Long-term incentive plan grants issued out of treasury (in shares)		-1,208,000		-1,208,000
Balances at Dec. 31, 2013		41,000	2,953,786,000		-1,506,217,000	1,447,610,000
Balances (in shares) at Dec. 31, 2013	345,000	415,730,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)					315,956,000	315,956,000
Offering costs			39,000			39,000
Dividends on Series A preferred stock			14,878,000		-19,838,000	-19,838,000
Dividends on Series A preferred stock (in shares)		3,262,000
Preferred dividends on redeemable noncontrolling interest					-6,543,000	-6,543,000
Accretion of redeemable noncontrolling interest					-6,633,000	-6,633,000
Long-term incentive plan grants		1,000	-1,000
Long-term incentive plan grants (in shares)		9,388,000
Share-based compensation			27,153,000			27,153,000
Long-term incentive plan forfeitures (in shares)		-455,000
Reduction in shares to cover individuals' tax withholding			-453,000			-453,000
Reduction in shares to cover individuals' tax withholding (in shares)		-117,000
Balances at Dec. 31, 2014		$42,000	$2,995,402,000		($1,223,275,000)	$1,772,169,000
Balances (in shares) at Dec. 31, 2014	345,000	427,808,000

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net income (loss)	$315,956	($1,222,662)	($53,885)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depletion, depreciation and accretion	534,421	463,655	90,284
Full cost ceiling impairment	239,668	1,147,771
Other operating property and equipment impairment	35,558	67,454
Goodwill impairment		228,875
Deferred income tax provision (benefit)		-159,239	-13,060
Share-based compensation, net	18,733	17,112	4,573
Unrealized loss (gain) on derivative contracts	-508,285	8,728	11,727
Amortization and write-off of deferred loan costs	4,315	2,656	6,212
Non-cash interest and amortization of discount and premium	2,780	2,025	9,387
Accrued settlements on derivative contracts	-25,868
Other expense ( income )	-2,435	1,427	-352
Change in assets and liabilities, net of acquisitions:
Accounts receivable	85,767	-96,216	-93,120
Inventory	455	-504	1,194
Prepaids and other	7,019	-8,734	-749
Accounts payable and accrued liabilities	-40,150	41,576	122,149
Net cash provided by (used in) operating activities	667,934	493,924	84,360
Cash flows from investing activities:
Oil and natural gas capital expenditures	-1,524,341	-2,380,445	-1,183,295
Proceeds received from sales of oil and natural gas assets	484,184	448,299	21,964
Advance on carried interest	-189,442
Other operating property and equipment capital expenditures	-43,083	-139,295	-38,478
Funds held in escrow and other	1,589	3,455	-965
Net cash provided by (used in) investing activities	-1,271,093	-2,100,699	-2,832,466
Cash flows from financing activities:
Proceeds from borrowings	2,276,000	3,725,000	2,466,608
Repayments of borrowings	-1,719,000	-2,644,400	-655,000
Debt issuance costs	-819	-23,873	-52,878
Common stock repurchased			-2,139
Series A preferred stock issued		345,000
Dividends, Preferred Stock, Cash	4,960
Series A preferred dividends paid in common stock	14,878	9,092
Preferred stock issued			311,556
Preferred beneficial conversion feature			88,445
Common stock issued		222,870	569,000
Warrants issued			43,590
HK TMS, LLC preferred stock issued	110,051
HK TMS, LLC tranche rights	4,516
Restricted cash	16,131
Preferred dividends on redeemable noncontrolling interest	3,518
Offering costs and other	-2,101	-17,494	-18,619
Net cash provided by (used in) financing activities	644,038	1,607,103	2,750,563
Net increase (decrease) in cash	40,879	328	2,457
Cash at beginning of period	2,834	2,506	49
Cash at end of period	43,713	2,834	2,506
Supplemental cash flow information:
Cash paid for interest, net of capitalized interest	132,557	25,462	11,705
Cash paid (refunded) for income taxes	-8,600	9,014	89
Disclosure of non-cash investing and financing activities:
Accrued capitalized interest	-1,180	9,890	33,814
Asset retirement obligations	-1,262	-39,472	8,587
Non-cash preferred dividend			88,445
Series A preferred dividends paid in common stock	14,878	9,092
Accretion of redeemable noncontrolling interest	6,633
Preferred dividends on redeemable Noncontrolling interest paid-in-kind	3,025
Paid-in-Kind Interest			14,669
Common stock issued for GeoResources, Inc.			321,416
Common stock issued for East Texas Assets			130,623
Preferred stock issued for Williston Basin Assets			695,238
Current notes payable issued for oil and natural gas properties			74,669
Payable for acquisition of oil and natural gas properties		2,157
Receivable for sale of oil and natural gas properties	1,000
GeoResources
Cash flows from investing activities:
Acquisition, net of cash acquired			-579,497
East Texas Assets
Cash flows from investing activities:
Acquisition, net of cash acquired			-296,139
Williston Basin Assets
Cash flows from investing activities:
Acquisition, net of cash acquired		($32,713)	($756,056)

SUMMARY_OF_SIGNIFICANT_EVENTS_

SUMMARY OF SIGNIFICANT EVENTS AND ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT EVENTS AND ACCOUNTING POLICIES	Dec. 31, 2014
SUMMARY OF SIGNIFICANT EVENTS AND ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT EVENTS AND ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT EVENTS AND ACCOUNTING POLICIES
	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 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. The Company has evaluated events or transactions through the date of issuance of this report in conjunction with the preparation of these consolidated financial statements.
	Use of Estimates
	The preparation of the Company's 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 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 accruals, capital and operating expense accruals, oil and natural gas reserves, depletion relating to oil and natural gas properties, asset retirement obligations, fair value estimates, beneficial conversion feature 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 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 significant allowances for doubtful accounts as of December 31, 2014 or 2013.
	Oil and Natural Gas Properties
	The Company uses the full cost method of accounting for its investment in oil and natural gas properties as prescribed by the United States Securities and Exchange Commission (SEC). Accordingly, all costs incurred in the acquisition, exploration and development of proved and unproved oil and natural gas properties, including the costs of abandoned properties, dry holes, geophysical costs, and annual lease rentals are capitalized. All general and administrative corporate costs unrelated to drilling activities are expensed as incurred. Sales or other dispositions of oil and natural gas properties are accounted for as adjustments to capitalized costs, with no gain or loss recorded unless the ratio of cost to proved reserves would significantly change. Depletion of evaluated oil and natural gas properties is computed on the units of production method based on proved reserves. The net capitalized costs of evaluated oil and natural gas properties are subject to a full cost ceiling limitation in which the costs are not allowed to exceed their related estimated future net revenues discounted at 10%, net of tax considerations.
	Costs associated with unevaluated properties are excluded from the full cost pool until the Company has made a determination as to the existence of proved reserves. The Company reviews its unevaluated properties at the end of each quarter to determine whether the costs incurred should be transferred to the full cost pool and thereby subject to amortization. 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.
	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 $83.1 million and $92.0 million as of December 31, 2014 and 2013, respectively, related to the construction of its gas gathering systems, after any amounts impaired.
	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 or the lesser of lease term; 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 equipment and other operating assets at each reporting period to determine whether events and circumstances warrant a revision to the remaining depreciation periods. For the year ended December 31, 2014, the Company recorded a non-cash impairment charge for gas gathering systems and other related operating assets of $35.6 million, net of $1.9 million of accumulated depreciation. The majority of the impairment represents approximately half of the Company's gas gathering infrastructure, right-of-way and permitting investments in the Utica / Point Pleasant area. These infrastructure related investments were related to acreage in certain non-core areas of the Utica play which the Company currently does not plan to develop in light of the recent downtrend in oil prices which has rendered certain areas to be deemed uneconomical and/or non-strategic. For the year ended December 31, 2013, the Company recorded a non-cash impairment charge for midstream assets of $67.5 million. The impairment relates to the Company's gross investment of $72.1 million in gas gathering infrastructure that will not be economically recoverable due to the Company's shift in exploration, drilling and developmental plans from the Woodbine to El Halcón during the third quarter of 2013. The impairments of midstream assets were recorded in "Other operating property and equipment impairment" in the Company's consolidated statements of operations and in "Gas gathering and other operating assets" in the Company's consolidated balance sheets.
	In accordance with ASC 820, Fair Value Measurements and Disclosures (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 estimate of the fair value of the Company's gas gathering systems was based on an income approach that estimated future cash flows associated with those assets, which resulted in negative net cash flows due to insufficient throughput of natural gas volumes and certain fixed costs necessary to operate and maintain the assets. This estimation includes the use of unobservable inputs, such as estimated future production, gathering and compression revenues and operating expenses. The use of these unobservable inputs results in the fair value estimate of the Company's gas gathering systems being classified as Level 3.
	Revenue Recognition
	Revenues from the sale of crude oil, natural gas, and natural gas liquids are recognized when the product is delivered at a fixed or determinable price, title has transferred, and collectability is reasonably assured and evidenced by a contract. The Company follows the entitlement method of accounting for crude oil and natural gas sales, recognizing as revenues only its net interest share of all production sold. Any amount attributable to the sale of production in excess of or less than the Company's net interest is recorded as a balancing asset or liability. At December 31, 2014 and 2013 the Company's imbalances were immaterial.
	Concentrations of Credit Risk
	The Company operates a substantial portion of its oil and natural gas properties. As the operator of a property, the Company makes full payments for costs associated with the property and seeks reimbursement from the other working interest owners in the property for their share of those costs. The Company's joint interest partners consist primarily of independent oil and natural gas producers. If the oil and natural gas exploration and production industry in general was adversely affected, the ability of the Company's joint interest partners to reimburse the Company could be adversely affected.
	The purchasers of the Company's oil and natural gas production consist primarily of independent marketers, major oil and natural gas companies and gas pipeline companies. Historically, the Company has not experienced any significant losses from uncollectible accounts. In 2014, three individual purchasers of the Company's production, Crestwood Midstream Partners, formerly Arrow Field Services LLC (Crestwood), Sunoco Partners Marketing & Terminals, L.P. (Sunoco) and Suncor Energy Marketing Inc. (Suncor), each accounted for more than 10% of its total sales, collectively representing 66% of the Company's total sales for the year. In 2013, four individual purchasers of the Company's production, Shell Trading US Co., Sunoco, Crestwood and Suncor Energy, each accounted for more than 10% of its total sales, collectively representing 63% of the Company's total sales for the year. In 2012, two individual purchasers of the Company's production, Shell Trading US Co. and Sunoco, each accounted for approximately 20% and 19%, respectively, of its total sales.
	Risk Management Activities
	The Company follows ASC 815, Derivatives and Hedging (ASC 815). From time to time, the Company may hedge a portion of its forecasted oil, natural gas, and natural gas liquids production. Derivative contracts entered into by the Company have consisted of transactions in which the Company hedges the variability of cash flow related to a forecasted transaction. The Company recognized all derivative instruments as either assets or liabilities in the consolidated balance sheets at fair value. The Company has elected to not designate any of its positions for hedge accounting. Accordingly, the Company records the net change in the mark-to-market valuation of these positions, as well as payments and receipts on settled contracts, in "Net gain (loss) on derivative contracts" on the consolidated statements of operations.
	Income Taxes
	The Company accounts for income taxes using the asset and liability method wherein deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.
	The Company follows ASC 740, Income Taxes (ASC 740). ASC 740 creates a single model to address accounting for the uncertainty in income tax positions and prescribes a minimum recognition threshold a tax position must meet before recognition in the consolidated financial statements.
	The evaluation of a tax position in accordance with ASC 740 is a two-step process. The first step is a recognition process to determine whether it is more likely than not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. In evaluating whether a tax position has met the more likely than not recognition threshold, it is presumed that the position will be examined by the appropriate taxing authority with full knowledge of all relevant information. The second step is a measurement process whereby a tax position that meets the more likely than not recognition threshold is calculated to determine the amount of benefit/expense to recognize in the consolidated financial statements. The tax position is measured at the largest amount of benefit/expense that is more likely than not of being realized upon ultimate settlement.
	The Company has no liability for unrecognized tax benefits as of December 31, 2014 and 2013. Accordingly, there is no amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate and there is no amount of interest or penalties currently recognized in the consolidated statements of operations or consolidated balance sheets as of December 31, 2014. In addition, the Company does not believe that there are any positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next twelve months.
	The Company includes interest and penalties relating to uncertain tax positions within "Interest expense and other, net" on the Company's consolidated statements of operations. Refer to Note 13, "Income Taxes," for more details.
	Generally, the Company's tax years 2011 through 2014 are either currently under audit or remain open and subject to examination by federal tax authorities or the tax authorities in Louisiana, Mississippi, Montana, North Dakota, Oklahoma, Texas, Pennsylvania, Utah, Wyoming and certain other small state taxing jurisdictions where the Company has its principal operations. In certain of these jurisdictions, the Company operates through more than one legal entity, each of which may have different open years subject to examination. Additionally, it is important to note that years are open for examination until the statute of limitations in each respective jurisdiction expires.
	Tax audits may be ongoing at any point in time. Tax liabilities are recorded based on estimates of additional taxes which may be due upon the conclusion of these audits. Estimates of these tax liabilities are made based upon prior experience and are updated for changes in facts and circumstances. However, due to the uncertain and complex application of tax regulations, it is possible that the ultimate resolution of audits may result in liabilities which could be materially different from these estimates.
	Asset Retirement Obligations
	ASC 410, Asset Retirement and Environmental Obligations (ASC 410) requires that the fair value of an asset retirement cost, and corresponding liability, should be recorded as part of the cost of the related long-lived asset and subsequently allocated to expense using a systematic and rational method. The Company records asset retirement obligations to reflect the Company's legal obligations related to future plugging and abandonment of its oil and natural gas wells and gas gathering systems and equipment. The Company estimates the expected cash flows associated with the obligation and discounts the amounts using a credit-adjusted, risk-free interest rate. At least annually, the Company reassesses the obligation to determine whether a change in the estimated obligation is necessary. The Company evaluates whether there are indicators that suggest the estimated cash flows underlying the obligation have materially changed. Should these indicators suggest the estimated obligation may have materially changed on an interim basis (quarterly), the Company will accordingly update its assessment. Additional retirement obligations increase the liability associated with new oil and natural gas wells and gas gathering systems and equipment as these obligations are incurred.
	Goodwill
	Goodwill represents the excess of the purchase price over the estimated fair value of the assets acquired net of the fair value of liabilities assumed in an acquisition. ASC 350, Intangibles—Goodwill and Other (ASC 350) requires that intangible assets with indefinite lives, including goodwill, be evaluated on an annual basis for impairment or more frequently if events occur or circumstances change that could potentially result in impairment. The goodwill impairment test requires the allocation of goodwill and all other assets and liabilities to reporting units. However, the Company has only one reporting unit. The Company carried goodwill as of December 31, 2012 related to its acquisition of GeoResources, Inc.. Refer to Note 4, "Acquisitions and Divestitures" for more details regarding the merger between the Company and GeoResources, Inc. The Company performs its goodwill impairment test annually, using a measurement date of July 1, or more often if circumstances require.
	The Company performed its annual goodwill impairment test during the third quarter of 2013, and based on this review, the Company recorded a non-cash impairment charge of $228.9 million to reduce the carrying value of goodwill to zero. The Company recorded the goodwill impairment in "Goodwill impairment" in the Company's consolidated statements of operations. In the first step of the goodwill impairment test, the Company determined that the fair value of its reporting unit was less than the carrying amount, including goodwill, primarily due to pricing deterioration in the NYMEX forward pricing curve coupled with less favorable oil price differentials in the Company's core areas, both factors which adversely impacted the fair value of the Company's proved reserves. Therefore, the Company performed the second step of the goodwill impairment test, which led the Company to conclude that there would be no remaining implied fair value attributable to goodwill.
	In estimating the fair value of its reporting unit, the Company used a combination of the income and market approaches. For purposes of estimating the fair value of the Company's oil and natural gas proved reserves, an income approach was used which 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. In estimating the fair value of the Company's unproved acreage, a market approach was used in which a review of recent transactions involving properties in the same geographical location indicated the fair value of the Company's unproved acreage from a market participant perspective.
	The estimation of the fair value of the Company's reporting unit includes the use of unobservable inputs, such as estimates of proved reserves, unproved acreage values, the weighted average cost of capital (discount rate), future pricing beyond a certain period and estimated future capital and operating costs. The use of these unobservable inputs results in the fair value estimate being classified as Level 3. Although the Company believes the assumptions and estimates used in the fair value calculation of its reporting unit 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 reporting unit and performing the goodwill impairment test are inherently uncertain and require management judgment.
	401(k) Plan
	The Company sponsors a 401(k) tax deferred savings plan, whereby the Company matches a portion of employees' contributions in cash. Participation in the plan is voluntary and all employees of the Company who are 18 years of age are eligible to participate. The Company provided matching contributions of $4.5 million, $4.9 million, and $1.8 million in 2014, 2013, and 2012, respectively. As of January 1, 2013, the Company matches employee contributions dollar-for-dollar on the first 10% of an employee's pre-tax earnings, subject to individual IRS limitations.
	Recently Issued Accounting Pronouncements
	In November 2014, the FASB issued ASU No. 2014-16, "Derivatives and Hedging—Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity" (ASU 2014-16). ASU 2014-16 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and early adoption is permitted. Prior to ASU 2014-16, there were two primary methods used to evaluate whether the nature of a host contract is more akin to debt or equity. One method considers all the terms and features in a hybrid financial instrument including the embedded derivative feature that is being evaluated for bifurcation (whole instrument approach). The second method considers all the terms and features in the hybrid financial instrument except the embedded derivative feature that is being evaluated for bifurcation. ASU 2014-16 stipulates that issuers should use the whole instrument approach only. ASU 2014-16 applies to the transaction which HK TMS, LLC entered into with funds and accounts managed by affiliates of Apollo Global Management, LLC and the whole instrument approach was used in determining whether the host contract was more akin to debt or equity. See Note 11, "Mezzanine Equity" for a discussion of this transaction.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (ASU 2014-15). ASU 2014-15 is effective for annual reporting periods (including interim periods within those periods) ending after December 15, 2016. Early application is permitted. The amendments in ASU 2014-15 create a new ASC Sub-topic 205-40, Presentation of Financial Statements—Going Concern and require management to assess for each annual and interim reporting period if conditions exist that raise substantial doubt about an entity's ability to continue as a going concern. The rule requires various disclosures depending on the facts and circumstances surrounding an entity's ability to continue as a going concern. The Company is in the process of assessing the effects of the application of the new guidance.
	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.
	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.

RECAPITALIZATION

RECAPITALIZATION	12 Months Ended
	Dec. 31, 2014
RECAPITALIZATION
RECAPITALIZATION	2. RECAPITALIZATION
	On December 21, 2011, the Company entered into a Securities Purchase Agreement (the Purchase Agreement) with HALRES LLC, formerly Halcón Resources, LLC (HALRES), a related party. Pursuant to the Purchase Agreement, (i) HALRES purchased and the Company sold 73.3 million shares of the Company's common stock (the Shares) for a purchase price of $275 million and (ii) HALRES purchased and the Company issued a senior convertible promissory note in the original principal amount of $275 million (the 2017 Note) convertible into common stock at $4.50 per share, subject to adjustment under certain circumstances, together with five year warrants (the February 2012 Warrants) to purchase 36.7 million shares of the Company's common stock at an exercise price of $4.50 per share (the Recapitalization), subject to adjustment under certain circumstances. The 2017 Note is convertible after February 8, 2014 and if converted, would currently entitle the holder to 64.4 million shares of common stock. As of the date of this filing, no holders of the 2017 Note have converted their notes into the Company's common stock. The Company and HALRES closed the transaction contemplated by the Purchase Agreement on February 8, 2012.
	In January 2012, shareholders holding a majority of the Company's outstanding shares of common stock approved the issuance of the Shares, the 2017 Note and the February 2012 Warrants pursuant to the terms of the Purchase Agreement. Additionally, the board of directors approved, effective upon the closing (i) the Company's certificate of incorporation was amended to (a) the Company's authorized shares of common stock were increased from 100 million shares to 1.01 billion shares, both of which were before the one-for-three reverse stock split; (b) a one-for-three reverse stock split of the Company's common stock was affected (which reduced the Company's authorized shares of common stock from 1.01 billion to 336.7 million shares); and (c) the name of the Company was changed from RAM Energy Resources, Inc. to Halcón Resources Corporation; (ii) the Company's 2006 Long-Term Incentive Plan (the Plan) was amended to increase the number of shares that may be issued under the Plan from 2.5 million to 3.7 million shares; and (iii) on an advisory (non-binding) basis, the payments made to the Company's named executive officers in connection with the transactions contemplated by the Purchase Agreement.
	The closing of the transaction resulted in a change in control of the Company. Material events and items resulting from the transaction include the following:
	•	completion of transactions contemplated by the Purchase Agreement and shareholder approval of the matters as discussed above;
	•	the resignation and termination of the Company's four executive officers and the resignation of certain other officers;
	•	change in control payments of $4.6 million to the officers of the Company recorded in general and administrative expense;
	•	change in control payment of $0.8 million pursuant to a retainer agreement with the Company's then outside law firm recorded in general and administrative expense;
	•	accelerated vesting of all unvested employee restricted stock shares and accelerated vesting and exercise of all unvested stock appreciation rights resulting in $4.3 million of share-based compensation expense recorded in general and administrative expense;
	•	payoff and termination of the Company's existing March 2011 credit facilities of $133.0 million plus accrued interest, as well as the expensing of the related unamortized debt issuance costs of $2.9 million;
	•	payoff and termination of the Company's second lien term facility of $75.0 million plus accrued interest and a prepayment fee of $1.5 million, as well as the expensing of the related unamortized debt issuance costs of $2.9 million; and
	•	closing costs of $11.2 million related to engagement fees and various professional fees including $2.5 million recorded in general and administrative expense related to a termination fee pursuant to a previous engagement.
	In January 2012, the Company approved a one-for-three reverse stock split, which was implemented on February 10, 2012. Retroactive application of the reverse stock split is required and all share and per share information included for all periods presented in these consolidated financial statements reflects the reverse stock split.
	In February 2012, the transaction with HALRES resulted in an "ownership change" as defined under Section 382 of the Internal Revenue Code of 1986, as amended. As a consequence, the Company has additional limitations on its ability to use the net operating losses it accrued before the ownership change as a deduction against any taxable income the Company realizes after the ownership change.

RESTRUCTURING

RESTRUCTURING	12 Months Ended
RESTRUCTURING	Dec. 31, 2014
RESTRUCTURING
RESTRUCTURING	3. RESTRUCTURING
	In the fourth quarter of 2013, in conjunction with the Company's divestitures of certain non-core assets, see Note 4, "Acquisitions and Divestitures," the Company incurred and settled approximately $4.0 million in severance costs related to the termination of certain employees in these non-core areas. The severances were complete with the closing of the final non-core asset sale in December 2013.
	In March 2012, the Company announced its intention to close its Plano, Texas office and began the process of relocating key administrative functions to Houston, Texas (the Restructuring). As part of the Restructuring, the Company offered certain severance and retention benefits, collectively known as the Severance Program, to the affected employees. The total expense of the Severance Program was approximately $2.9 million and related costs were recognized as restructuring expense over the requisite service periods through May 2013, as applicable. Following is a reconciliation of the beginning and ending liability balance:

		Severance Program
		(In thousands)
	Beginning balance, December 31, 2012	$	2,131
	Severance and Retention payments		(2,627	)
	Net increase in accrual		496

	Ending balance, December 31, 2013	$	—


	These costs were recorded in "Restructuring" on the consolidated statements of operations.

ACQUISITIONS_AND_DIVESTITURES

ACQUISITIONS AND DIVESTITURES	12 Months Ended
ACQUISITIONS AND DIVESTITURES	Dec. 31, 2014
ACQUISITIONS AND DIVESTITURES
ACQUISITIONS AND DIVESTITURES	4. ACQUISITIONS AND DIVESTITURES
	Acquisitions
	Williston Basin Assets
	On December 6, 2012, the Company completed the acquisition of two wholly-owned subsidiaries of Petro-Hunt Holdings, LLC and Pillar Holdings, LLC (the Petro-Hunt Parties), which owned acreage prospective for the Bakken / Three Forks formations located in North Dakota, in Williams, Mountrail, McKenzie and Dunn counties (the Williston Basin Assets). The Company completed the acquisition of the Williston Basin Assets for total consideration of approximately $1.5 billion, consisting of approximately $788.8 million in cash and approximately 10,880 shares of the Company's preferred stock that automatically converted into 108.8 million shares of Halcón common stock on January 18, 2013 (equivalent to a conversion price of approximately $7.45 per share of Halcón common stock based on the liquidation preference), following stockholder approval of such conversion and an amendment to Halcón's certificate of incorporation to increase the number of shares of common stock that Halcón is authorized to issue (the Williston Basin Acquisition). The Williston Basin Acquisition significantly expanded the Company's presence in North Dakota, adding undeveloped acreage, oil and natural gas reserves and production to its existing asset base and operations in this area.
	The transaction had an effective date of June 1, 2012 and was subject to customary closing conditions, as well as the execution and delivery of certain other agreements, including a Registration Rights Agreement, dated December 6, 2012. In accordance with the Registration Rights Agreement, as amended, on September 27, 2013, the Company filed a shelf registration statement providing for the resale of shares of the Company's common stock issued to the Petro-Hunt Parties in the acquisition.
	The Williston Basin Acquisition was accounted for as a business combination in accordance with ASC No. 805, Business Combinations (ASC 805) which, among other things, requires assets acquired and liabilities assumed to be measured at their acquisition date fair values. The estimated fair value of the properties approximates the fair value of consideration and as a result no goodwill was recognized.
	The following table summarizes the consideration paid to acquire the Williston Basin Assets, as well as the amounts of assets acquired and liabilities assumed as of the acquisition date (in thousands):

	Purchase Price(1):
	Halcón preferred shares issued to Williston Basin Assets Sellers(2)		$	695,238
	Cash consideration paid to Williston Basin Assets Sellers(3)			788,769

	Total purchase price		$	1,484,007


	Estimated Fair Value of Liabilities Assumed:
	Current liabiltites		$	7,211
	Asset retirement obligations			5,207

	Amount attributable to liabilities assumed			12,418

	Total purchase price plus liabilities assumed		$	1,496,425


	Estimated Fair Value of Assets Acquired:
	Current assets		$	4,264
	Evaluated oil and natural gas properties(4)(5)			630,431
	Unevaluated oil and natural gas properties			861,730

	Amount attributable to assets acquired		$	1,496,425

	Goodwill		$	—




	-1	Based on the terms of the reorganization and interest purchase agreement, consideration paid by Halcón consisted of $788.8 million in cash plus approximately 10,880 shares of convertible preferred stock. The total purchase price is based upon the fair value of the preferred shares which was determined using the lowest price of $6.39 per share of the Company's common stock on December 6, 2012, the number of convertible preferred shares issued and the conversion rate of each convertible preferred share to 10,000 shares of common stock. Cash consideration has been adjusted for customary post-closing items.
	-2	Represents the fair value of convertible preferred stock par value $0.0001 per share issued to sellers with each preferred share convertible into 10,000 shares of common stock. The preferred shares were presented on the December 31, 2012 balance sheet as mezzanine equity due to the fact that the conversion of the preferred shares to common shares was still contingent upon shareholder approval at the December 31, 2012 balance sheet date. See further discussion of the preferred shares at Note 12, "Stockholders' Equity".
	-3	Represents amount of cash consideration, adjusted for customary post-closing items, for the purchase of the Williston Basin Assets funded by the issuance of the $750 million 8.875% senior notes with net proceeds of $725.6 million and borrowings under the Senior Credit Agreement revolver. See discussion of 8.875% senior notes and Senior Credit Agreement at Note 6, "Long- term Debt".
	-4	The market assumptions as to future commodity prices, projections of estimated quantities of oil and natural gas reserves, expectations for timing and amount for future development and operating costs, projections of future rates of production, expected recovery rates and risk adjusted discount rates used by the Company to estimate the fair value of the oil and natural gas properties represent Level 3 inputs. For additional information on Level 3 inputs, see Note 7, "Fair Value Measurements".
	-5	Weighted average commodity prices utilized in the determination of the pro forma fair value of oil and natural gas properties were $95.17 per barrel of oil and $10.85 per Mcf of natural gas, after adjustment for transportation fees and regional price differentials. The pricing used in the determination of fair value reflects the differential applied to future prices; differentials for natural gas reflect relatively higher Btu gas content.
	GeoResources, Inc.
	On August 1, 2012, the Company completed an acquisition of GeoResources, Inc. (GeoResources) by means of the merger of GeoResources into a wholly-owned subsidiary of the Company (the Merger) and began reflecting GeoResources' results of operations in the Company's consolidated statements of operations. In connection with the Merger, each share of GeoResources common stock issued and outstanding immediately prior to the effective date of the Merger was converted into the right to receive $20.00 in cash and 1.932 shares of the Company's common stock.
	In the Merger, the Company issued a total of approximately 51.3 million shares of its common stock and paid approximately $531.5 million in cash to former GeoResources stockholders, resulting in a total purchase price plus liabilities assumed of approximately $1.3 billion. The acquisition expanded the Company's presence in the Bakken / Three Forks formations of North Dakota, and the Austin Chalk Trend and Eagle Ford Shale in Texas, adding oil and natural gas reserves and production to its existing asset base in these areas.
	The acquisition was accounted for as a business combination in accordance with ASC 805 which, among other things, requires assets acquired and liabilities assumed to be measured at their acquisition date fair values. GeoResources results of operations are reflected in the Company's consolidated statements of operations, beginning August 1, 2012.
	The following table summarizes the consideration paid to acquire GeoResources and the estimated values of assets acquired and liabilities assumed in the accompanying audited consolidated balance sheets based on their fair values on August 1, 2012 (in thousands, except stock price):

	Purchase price(1):
	Shares of Halcón common stock issued to GeoResources' stockholders			50,378
	Shares of Halcón common stock issued to GeoResources' stock option holders			966

	Total Halcón common stock issued			51,344
	Halcón common stock price		$	6.26

	Fair value of common stock issued		$	321,416
	Cash consideration paid to GeoResources' stockholders(2)			521,526
	Cash consideration paid to GeoResources' stock option holders(2)			9,996
	Fair value of warrants assumed by Halcón(3)			1,474

	Total purchase price		$	854,412


	Estimated fair value of liabilities assumed:
	Current liabilities		$	112,412
Deferred tax liability(4)			188,385
Asset retirement obligations			28,064
Other non-current liabilities			80,024

Amount attributable to liabilities assumed		$	408,885

Total purchase price plus liabilities assumed		$	1,263,297


Estimated fair value of assets acquired:
Current assets		$	108,067
Evaluated oil and natural gas properties(5)(6)			458,564
Unevaluated oil and natural gas properties			454,000
Net other operating property and equipment			1,179
Equity in oil and gas partnerships(7)			10,967
Other non-current assets			1,645

Amount attributable to assets acquired		$	1,034,422

Goodwill(8)		$	228,875




-1	Under the terms of the Merger Agreement, consideration paid by Halcón consisted of $20.00 in cash plus 1.932 shares of Halcón common stock for each share of GeoResources common stock. The total purchase price was based upon the price of Halcón common stock on the closing date of the transaction, August 1, 2012, and approximately 26.6 million shares of GeoResources common stock outstanding at the effective time of the Merger. The Company issued a total of 51.3 million shares of its common stock and paid $531.5 million in cash to former GeoResources stockholders in exchange for their shares of GeoResources common stock. Cash consideration was adjusted for customary post-closing items.
-2	Components of cash flow for the Merger (in thousands):

Total cash consideration for Merger and stock options(i)		$	531,522
Retirement of GeoResources' long-term debt(ii)			80,328
Cash acquired on date of Merger			(32,353	)

Total cash outflows, net		$	579,497




(i)		The majority of the cash consideration was funded by the net proceeds from the issuance of the 9.75% senior notes.
(ii)		Includes accrued interest and fees.
-3	The $1.5 million fair value of the assumed warrants was calculated using a Black-Scholes valuation model with assumptions for the following variables: price of Halcón stock on the closing date of the merger; risk-free interest rates; and expected volatility. The assumed warrants were classified as liabilities as of December 31, 2012 as the warrant holders can receive cash. The assumed warrants were classified as current liabilities at December 31, 2012 because all the warrants expired in 2013.
-4	Halcón received carryover tax basis in GeoResources' assets and liabilities because the Merger was not a taxable transaction under the United States Internal Revenue Code of 1986, as amended. Based upon the purchase price allocation, a step-up in financial reporting carrying value related to the property acquired from GeoResources resulted in a Halcón deferred tax liability of approximately $188.4 million, an increase of approximately $127.0 million to GeoResources' existing $61.4 million deferred tax liability.
-5	Weighted average commodity prices utilized in the determination of the fair value of oil and natural gas properties were $6.65 per Mcf of natural gas, $35.66 per barrel of oil equivalent for natural gas liquids and $98.37 per barrel of oil, after adjustment for transportation fees and regional price differentials.
-6	The market assumptions as to future commodity prices, projections of estimated quantities of oil and natural gas reserves, expectations for timing and amount for future development and operating costs, projections of future rates of production, expected recovery rates and risk adjusted discount rates used by the Company to estimate the fair value of the oil and natural gas properties represent Level 3 inputs. For additional information on Level 3 inputs, see Note 7, "Fair Value Measurements".
-7	As a part of the Merger, the Company acquired investments, in the form of general partnership interests, in two affiliated partnerships, SBE Partners LP (SBE Partners) and OKLA Energy Partners LP (OKLA Energy). These partnerships hold direct working interests in oil and natural gas properties. The Company's investment in an unconsolidated entity in which the Company does not have a majority interest or control, but does have significant influence, is accounted for under the equity method. The Company held a 2% general partner interest, in OKLA Energy, which reverted to 35.66% interest when the limited partner realized a contractually specified rate of return. On July 25, 2013, the Company sold its general partner interest in OKLA Energy to a private buyer. The Company holds a 30% general partner interest in SBE Partners. Under the equity method of accounting the Company records its net share of income and expenses in "Interest expense and other, net" on the consolidated statements of operations. Contributions to the investment increase the Company's investment while distributions from the investment decrease the Company's carrying value of the investment in "Equity in oil and gas partnership" on the consolidated balance sheets. The Company reviews its equity method investment for potential impairment whenever events or changes in circumstances indicate that an other-than-temporary decline in the value of the investment has occurred.
-8	Goodwill was determined as the excess consideration transferred over the fair value of the GeoResources net assets acquired on August 1, 2012. Goodwill recognized will not be deductible for tax purposes. The Company performs its goodwill impairment test annually, using a measurement date of July 1, or more often if circumstances require. Refer to Note 1, "Summary of Significant Events and Accounting Policies," for additional discussion of the Company's goodwill impairment test and the Company's impairment of its goodwill balance during 2013.
East Texas Assets
In August 2012, the Company completed the acquisition of oil and natural gas leaseholds in East Texas (the East Texas Assets) from CH4 Energy II, LLC, PetroMax Leon, LLC, Petro Texas LLC, King King LLC and several other selling parties for total consideration of $426.8 million comprised of $296.1 million in cash and 20.8 million shares of the Company's common stock (the East Texas Acquisition). The East Texas Acquisition expanded the Company's presence in East Texas, adding oil and natural gas reserves and production to its existing asset base in this area. On August 27, 2012 the Company filed a registration statement with the SEC that registered under the Securities Act the resale of the shares of common stock issued as consideration in the East Texas Acquisition.
The East Texas Acquisition was accounted for as a business combination in accordance with ASC 805 which, among other things, requires assets acquired and liabilities assumed to be measured at their acquisition date fair values. The effective date of the East Texas Acquisition was April 1, 2012. The estimated fair value of the properties approximates the fair value of consideration and as a result no goodwill was recognized.
The following table summarizes the consideration paid to acquire the properties and the amounts of the assets acquired and liabilities assumed as of the acquisition date (in thousands, except stock prices):

Purchase price(1):
Shares of Halcón common stock issued on August 1, 2012			16,460
Shares of Halcón common stock issued on August 2, 2012			4,310

Total Halcón common stock issued			20,770
Halcón common stock price on August 1, 2012		$	6.26
Halcón common stock price on August 2, 2012		$	6.40

Fair value of Halcón common stock issued		$	130,623
Cash consideration paid to sellers of East Texas Assets			296,139

Total purchase price		$	426,762


Estimated fair value of liabilities assumed:
Current liabilities		$	192
Asset retirement obligations			337

Amount attributable to liabilities assumed		$	529

Total purchase price plus liabilities assumed		$	427,291


Estimated fair value of assets acquired:
Evaluated oil and natural gas properties(2)(3)		$	337,303
Unevaluated oil and natural gas properties			89,988

Amount attributable to assets acquired		$	427,291

Goodwill		$	—




-1	Based on the terms of the purchase and sale agreements relating to the East Texas Assets, consideration paid by Halcón at closing consisted of $296.1 million in cash plus 20.8 million shares of Halcón common stock. The total purchase price is based upon the price on August 1, 2012 of $6.26 per share of Halcón's common stock for CH4 Energy II, LLC, PetroMax Leon, LLC and Petro Texas, LLC (Initial Sellers) and price on August 2, 2012 of $6.40 per share of Halcón's common stock for King King LLC. Cash consideration has been adjusted for customary post-closing items. The East Texas Acquisition was partially financed with the net proceeds from the issuance of $750.0 million of 9.75% senior notes and cash on hand. See Note 6, "Long-Term Debt" for discussion of the accounting treatment of the 9.75% senior notes.
-2	The market assumptions as to future commodity prices, projections of estimated quantities of oil and natural gas reserves, expectations for timing and amount for future development and operating costs, projections of future rates of production, expected recovery rates and risk adjusted discount rates used by the Company to estimate the fair value of the oil and natural gas properties represent Level 3 inputs. For additional information on Level 3 inputs, see Note 7, "Fair Value Measurements".
-3	Weighted average commodity prices utilized in the determination of the fair value of oil and natural gas properties were $6.26 per Mcf of natural gas, $49.68 per Boe for natural gas liquids and $98.35 per barrel of oil, after adjustment for transportation fees and regional price differentials.
The following unaudited pro forma combined results of operations are provided for the year ended December 31, 2012 as though the Merger, the East Texas Acquisition and the Williston Basin Acquisition had been completed as of the beginning of the comparable prior annual reporting period, or January 1, 2011. The pro forma combined results of operations for the year ended December 31, 2012 have been prepared by adjusting the historical results of the Company to include the historical results of GeoResources, the East Texas Assets and the Williston Basin Assets. These supplemental pro forma results of operations are provided for illustrative purposes only and do not purport to be indicative of the actual results that would have been achieved by the combined company for the periods presented or that may be achieved by the combined company in the future. The pro forma results of operations do not include any cost savings or other synergies that resulted, or may result, from the Merger, the East Texas Acquisition and the Williston Basin Acquisition or any estimated costs that will be incurred to integrate GeoResources, the Williston Basin Assets and the East Texas Assets. Future results may vary significantly from the results reflected in this unaudited pro forma financial information because of future events and transactions, as well as other factors.

		Year ended
		December 31, 2012
		(Unaudited)
		(In thousands, except
		per share amounts)
Revenue		$	608,092
Net income (loss)			34,895
Net income (loss) available to Halcón common stockholders			(53,550	)
Pro forma net income (loss) per common share:
Basic		$	(0.17	)
Diluted		$	(0.17	)
The Company's historical financial information was adjusted to give effect to the pro forma events that were directly attributable to the Merger and the acquisitions of the East Texas Assets and the Williston Basin Assets and factually supportable. The unaudited pro forma consolidated results include the historical revenues and expenses of assets acquired and liabilities assumed in the Merger and the acquisitions of the East Texas Assets and the Williston Basin Assets with the following adjustments:
•	Adjustment to recognize incremental depletion expense under the full cost method of accounting based on the fair value of the oil and natural gas properties and incremental accretion expense based on the asset retirement costs of the oil and natural gas properties at acquisition;
•	Eliminate historical interest expense for GeoResources debt that was extinguished;
•	Adjustment to recognize interest expense, net of capitalized interest, for debt issued in connection with the transactions;
•	Eliminate transaction costs and non-recurring charges directly related to the transactions that were included in the historical results of operations for GeoResources and the Company in the amount of $59.5 million. Transaction costs directly related to the transactions that do not have a continuing impact on the combined Company's operating results have been excluded from the 2012 pro forma earnings;
•	Adjustment to recognize pro forma income tax based on an assumed 38% rate;
•	Eliminate historical impairment expense for GeoResources that would not have been incurred under the full cost method of accounting;
•	Adjustment to convert successful efforts method financial statements of GeoResources to full cost method financial statements to adjust exploration expenses which would have been capitalized under the full cost method of accounting for oil and natural gas activities;
•	Adjustment to GeoResources' historical revenue to reclass net settlements on commodity derivatives that under cash flow hedge accounting were included in GeoResources' revenues from oil and natural gas sales, and adjustment to reflect unrealized gain on commodity derivatives. In accordance with the Company's accounting policy, it does not apply cash flow hedge accounting treatment and the realized and unrealized gain (loss) on commodity derivatives have been reflected as a gain (loss) on derivative contracts;
•	Adjustment to recognize the issuance of 51.3 million shares of Halcón common stock as consideration for the GeoResources Merger; and
•	Adjustment to recognize the issuance of the 20.8 million shares of Halcón common stock as consideration for the acquisition of the East Texas Assets; and
•	Adjustment to recognize the issuance of Halcón preferred stock as consideration for the Williston Basin Assets that automatically converted to 108.8 million shares of Halcón common stock.
For the year ended December 31, 2012, the Company recognized $19.7 million of oil, natural gas and natural gas liquids sales related to properties acquired in the acquisition of the Williston Basin Assets and $6.7 million of net field operating income (oil, natural gas and natural gas liquids revenues less lease operating expense, workover expense, production taxes, depletion expense and income taxes) related to properties acquired in the acquisition of the Williston Basin Assets. Additionally, non-recurring transaction costs of $14.2 million related to the acquisition of the Williston Basin Assets for the year ended December 31, 2012 are included in the consolidated statements of operations in "General and administrative" expenses; these non-recurring transaction costs have been excluded from the pro forma results for all periods presented in the above table.
For the year ended December 31, 2012, the Company recognized $90.8 million of oil, natural gas and natural gas liquids sales and $25.7 million of net field operating income (oil, natural gas and natural gas liquids revenues less lease operating expense, workover expense, production taxes, depletion expense and income taxes) related to properties acquired in the Merger. Additionally, non-recurring transaction costs of $21.5 million related to the Merger for the year ended December 31, 2012 are included in the consolidated statements of operations in "General and administrative" expenses; these non-recurring transaction costs have been excluded from the pro forma results for all periods presented in the above table.
For the year ended December 31, 2012, the Company recognized $34.8 million of oil, natural gas and natural gas liquids revenues related to properties acquired in the acquisition of the East Texas Assets and $16.5 million of net field operating income (oil, natural gas and natural gas liquids revenues less lease operating expense, workover expense, production taxes, depletion expense and income taxes) related to properties acquired in the acquisition of the East Texas Assets. Additionally, non-recurring transaction costs of $1.1 million related to the acquisition of the East Texas Assets for the year ended December 31, 2012 are included in the consolidated statements of operations in "General and administrative" expenses; these non-recurring transaction costs have been excluded from the pro forma results for all periods presented in the above table.
Other Acquisitions
On December 28, 2012, the Company completed the acquisition of certain oil and natural gas properties, located in Brazos County, Texas, from a group of private sellers for approximately $83.7 million, before customary closing adjustments, consisting of approximately $8.4 million in cash and approximately $75.3 million in promissory notes. The promissory notes had a maturity date of August 30, 2013. The transaction had an effective date of December 1, 2012. Refer to Note 6, "Long-term Debt," for more details regarding the promissory notes.
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 $424.5 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. The effective date of the transaction was April 1, 2014. 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.
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, after post-closing adjustments, of approximately $276.2 million. All three of the divestitures were closed by December 31, 2013. The effective date of the transactions was 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 $148.6 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.
Louisiana Properties
On November 29, 2012, the Company completed the sale of certain oil and natural gas properties located in Eloi Bay/Half Moon Lakes Field, Chandeleur Sound Block 71 Field and Quarantine Bay Field to Cox Oil, LLC for $22.0 million in cash, after customary closing adjustments. 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 transaction had an effective date of August 1, 2012.

OIL_AND_NATURAL_GAS_PROPERTIES

OIL AND NATURAL GAS PROPERTIES	12 Months Ended
OIL AND NATURAL GAS PROPERTIES	Dec. 31, 2014
OIL AND NATURAL GAS PROPERTIES
OIL AND NATURAL GAS PROPERTIES	5. OIL AND NATURAL GAS PROPERTIES
	Oil and natural gas properties as of December 31, 2014 and 2013 consisted of the following:

			December 31,
			2014			2013
			(In thousands)
	Subject to depletion		$	6,390,820		$	4,960,467

	Not subject to depletion:
	Exploration and extension wells in progress			73,684			109,279
	Other capital costs:
	Incurred in 2014			415,807			—
	Incurred in 2013			510,308			750,960
	Incurred in 2012			829,987			1,167,805
	Incurred in 2011 and prior			—			—

	Total not subject to depletion			1,829,786			2,028,044

	Gross oil and natural gas properties			8,220,606			6,988,511
	Less accumulated depletion			(2,953,038	)		(2,189,515	)

	Net oil and natural gas properties		$	5,267,568		$	4,798,996


	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. During the three months ended December 31, 2014, the Company transferred $211.5 million of unevaluated property costs to the full cost pool related to certain non-core areas of the Utica / Point Pleasant and TMS plays. These costs pertain to acreage that the Company currently does not plan to develop in light of the recent downtrend in oil prices which has rendered certain areas to be deemed uneconomical and/or non-strategic. During the three months ended September 30, 2013, the Company transferred $655.7 million of unevaluated property costs to the full cost pool primarily related to Woodbine assets in East Texas where capital was reallocated to El Halcón, and certain Utica / Point Pleasant assets in Northwest Pennsylvania related to non-economical drilling results obtained in the third quarter of 2013.
	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 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 year ended December 31, 2014 and 2013, the Company capitalized interest costs of $168.3 million and $201.5 million, respectively.
	The ceiling test value of the Company's reserves was calculated based on the following prices:

			West Texas			Henry Hub
			Intermediate			(per MMBtu)*(1)*
			(per barrel)*(1)*
	December 31, 2014		$	94.99		$	4.350
	December 31, 2013			96.94			3.670
	December 31, 2012			94.71			2.757


	-1	Unweighted average of the first day of the 12-months ended spot price, adjusted by lease or field for quality, transportation fees and market differentials.
	The Company's net book value of oil and natural gas properties at March 31, 2014 and December 31, 2014 exceeded the ceiling amount. The Company recorded a full cost ceiling test impairment before income taxes of $239.7 million ($151.4 million after taxes) for the year ended December 31, 2014. The impairment for the year ended December 31, 2014 primarily relates to non-routine transfers of unevaluated properties to the full cost pool, due to the Company's shift in drilling, away from the non-strategic areas of the Utica / Point Pleasant and TMS until economics and return on investment improve, which would include a combination of lower drilling and completion costs and higher commodity prices.
	The Company's net book value of oil and natural gas properties at September 30, 2013 and December 31, 2013 exceeded the ceiling amount. The Company recorded a full cost ceiling test impairment before income taxes of $1.1 billion ($727.2 million after taxes) for the year ended December 31, 2013. The combined impact of less favorable oil price differentials adversely affecting proved reserve values and the non-routine transfers of unevaluated Woodbine and Utica / Point Pleasant properties to the full cost pool contributed to the ceiling impairment.
	At December 31, 2012, the Company's net book value of oil and natural gas properties did not exceed the respective ceiling amounts.
	The Company recorded the full cost ceiling test impairments in "Full cost ceiling impairment" in the Company's consolidated statements of operations and in "Accumulated depletion" in the Company's consolidated balance sheets.
	Changes in commodity prices, production rates, levels of reserves, future development costs, transfers of unevaluated properties, and other factors will determine the Company's actual ceiling test calculation and impairment analyses in future periods.

LONGTERM_DEBT

LONG-TERM DEBT	12 Months Ended
LONG-TERM DEBT	Dec. 31, 2014
LONG-TERM DEBT.
LONG-TERM DEBT	6. LONG-TERM DEBT
	Long-term debt as of December 31, 2014 and 2013 consisted of the following:

			December 31,
			2014			2013(1)
			(In thousands)
	Senior revolving credit facility		$	557,000		$	—
	9.25% $400 million senior notes			400,000			400,000
	8.875% $1.35 billion senior notes(2)			1,370,032			1,372,355
	9.75% $1.15 billion senior notes(3)			1,151,821			1,152,099
	8.0% $289.7 million convertible note(4)			267,883			259,369

			$	3,746,736		$	3,183,823




	-1	Table excludes $1.4 million of deferred premiums on derivative contracts which were classified as current at December 31, 2013.
	-2	Amount is net of a $4.6 million and a $5.1 million unamortized discount at December 31, 2014 and 2013, respectively, related to the issuance of the original 2021 Notes. The unamortized premium related to the additional 2021 Notes was approximately $24.6 million and $27.5 million at December 31, 2014 and 2013, respectively. See "8.875% Senior Notes" below for more details.
	-3	Amounts are net of a $7.9 million and an $8.9 million unamortized discount at December 31, 2014 and 2013, respectively, related to the issuance of the original 2020 Notes. The unamortized premium related to the additional 2020 Notes was approximately $9.7 million and $11.0 million at December 31, 2014 and 2013, respectively. See "9.75% Senior Notes" below for more details.
	-4	Amounts are net of a $21.8 million and a $30.3 million unamortized discount at December 31, 2014 and 2013, respectively. See "8.0% Convertible Note" below for more details.
	Senior Revolving Credit Facility
	In connection with the closing of the Recapitalization, discussed in Note 2, "Recapitalization," 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 on February 8, 2012. The Senior Credit Agreement provides for a $1.5 billion facility with a current borrowing base of $1.05 billion. 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 revolver. 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 March 31, 2016 (pursuant to the Ninth Amendment, discussed below) and (ii) not less than 2.5 to 1.0 for subsequent periods.
	At December 31, 2014, the Company had $557.0 million of indebtedness outstanding, $1.1 million of letters of credit outstanding and $491.9 million of borrowing capacity available under its Senior Credit Agreement.
	On March 21, 2014, the Company entered into the Seventh Amendment to its Senior Credit Agreement (the Seventh Amendment). The Seventh Amendment 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. On September 30, 2014, the Company entered into the Eighth Amendment to its Senior Credit Agreement (the Eighth Amendment). The Eighth Amendment increased the borrowing base under its Senior Credit Agreement from $700.0 million to $1.05 billion. On February 25, 2015, the Company entered into the Ninth Amendment to the Senior Credit Agreement (Ninth Amendment). The Ninth Amendment provides 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 March 31, 2016. On February 25, 2015, the borrowing base under the Senior Credit Agreement was confirmed at $1.05 billion. See Note 17, "Subsequent Event", for a further discussion.
	At December 31, 2014, the Company was in compliance with the financial debt covenants under the Senior Credit Agreement.
	March 2011 Credit Facilities
	The Company's March 2011 credit facilities included a $250.0 million revolving credit facility and a $75.0 million second lien term loan facility (the March 2011 Credit Facilities), replacing the November 2007 facility. SunTrust Bank was the administrative agent for the revolving credit facility, and Guggenheim Corporate Funding, LLC was the administrative agent for the second lien term loan facility. The revolving credit facility allowed for funds advanced to be paid down and re-borrowed during the five-year term of the revolver, and bore interest at LIBOR plus a margin ranging from 2.5% to 3.25% based on a percentage of usage. The second lien term loan facility provided for payments of interest only during its 5.5 year term, and bore interest at LIBOR plus 9.0% with a 2.0% LIBOR floor, or if any period the Company elected to pay a portion of the interest "in kind," then the interest rate would have been LIBOR plus 10.0% with a 2.0% LIBOR floor, and with 7.0% of the interest amount paid in cash and the remaining 3.0% paid in kind by being added to principal. At December 31, 2011, $127.0 million was outstanding under the revolving credit facility and $75.0 million was outstanding under the second lien term loan facility. On February 8, 2012, the Company paid in full the outstanding balances under the revolving credit facility and the second lien term loan facility and both facilities were terminated, resulting in a $1.5 million charge to interest expense related to an early termination penalty.
	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 109.250% 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.
	On or after August 15, 2017, the Company may redeem all or a part of the 2022 Notes at any time or from time to time at the redemption prices (expressed as percentages of the principal amount) set forth in the following table plus accrued and unpaid interest, if any, to the applicable redemption date, if redeemed during the 12-month period beginning August 15, of the years indicated:

	Year		Percentage
	2017			104.625	%
	2018			102.313	%
	2019 and thereafter			100.000	%
	In addition, upon a change of control of the Company, holders of the 2022 Notes will have the right to require the Company to repurchase all or any part of their 2022 Notes for cash at a price equal to 101% of the aggregate principal amount of the 2022 Notes repurchased, plus any accrued and unpaid interest. The 2022 Notes were issued pursuant to, and are governed by an Indenture dated August 13, 2013, between the Company and U.S. Bank National Association, as trustee and the Company's subsidiaries named therein as guarantors (the Indenture). The Indenture contains affirmative and negative covenants that, among other things, limit the ability of the Company and its subsidiaries that guarantee the 2022 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.
	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 the 2022 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 were approximately $725.6 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 Williston Basin Assets acquisition.
	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.
	On or after November 15, 2016, the Company may redeem some or all of the 2021 Notes at any time or from time to time at the redemption prices (expressed as percentages of the principal amount) set forth in the following table plus accrued and unpaid interest, if any, to the applicable redemption date, if redeemed during the 12-month period beginning November 15 of the years indicated below:

	Year		Percentage
	2016			104.438	%
	2017			102.219	%
	2018 and thereafter			100.000	%
	In addition, upon a change of control of the Company, holders of the 2021 Notes will have the right to require the Company to repurchase all or any part of their Notes for cash at a price equal to 101% of the aggregate principal amount of the Notes repurchased, plus any accrued and unpaid interest. The 2021 Notes were issued under and governed by an Indenture dated November 6, 2012, between the Company, U.S. Bank National Association, as trustee and the Company's subsidiaries named therein as guarantors (the Indenture). The Indenture contains covenants that, among other things, limit the ability of the Company and its subsidiaries to: incur indebtedness; pay dividends or make other distributions on stock; purchase or redeem stock or subordinated indebtedness; make investments; create liens; enter into transactions with affiliates; sell assets; refinance certain indebtedness; and merge with or into other companies or transfer substantially all of the Company's assets.
	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 $4.6 million at December 31, 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 $24.6 million at December 31, 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 2022 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 East Texas Assets acquisition.
	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 $406.3 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 outstanding 2020 Notes for new registered notes having terms substantially identical to the 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.
	On or after July 15, 2016, the Company may redeem some or all of the 2020 Notes at any time or from time to time at the redemption prices (expressed as percentages of the principal amount) set forth in the following table plus accrued and unpaid interest, if any, to the applicable redemption date, if redeemed during the 12-month period beginning July 15 of the years indicated below:

Year		Percentage
2016			104.875	%
2017			102.438	%
2018 and thereafter			100.000	%
In addition, upon a change of control of the Company, holders of the 2020 Notes will have the right to require the Company to repurchase all or any part of their notes for cash at a price equal to 101% of the aggregate principal amount of the notes repurchased, plus any accrued and unpaid interest. The 2020 Notes were issued under and governed by an Indenture dated July 16, 2012, between the Company, U.S. Bank National Association, as trustee and the Company's subsidiaries named therein as guarantors (the Indenture). The Indenture contains covenants that, among other things, limit the ability of the Company and its subsidiaries to: incur indebtedness; pay dividends or make other distributions on stock; purchase or redeem stock or subordinated indebtedness; make investments; create liens; enter into transactions with affiliates; sell assets; refinance certain indebtedness; and merge with or into other companies or transfer substantially all of the Company's assets.
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 $7.9 million at December 31, 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 $9.7 million at December 31, 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 2022 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 the 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 rolled $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. As of the date of this filing, no holders of the 2017 Note have converted their notes into 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 $21.8 million at December 31, 2014.
Promissory Notes
On December 28, 2012, the Company completed the acquisition of certain oil and natural gas properties in Brazos County, Texas for approximately $83.7 million, before and subject to, customary closing adjustments, consisting of approximately $8.4 million in cash and approximately $75.3 million in promissory notes due August 30, 2013. During the three months ended March 31, 2013, the Company completed its review of the properties and paid approximately $62.4 million during the period for properties deemed to have clear title and no defects. In addition, notice was given to the sellers of the Company's assertion of title and environmental defects amounting to $12.9 million for the remaining properties. During the three months ended September 30, 2013, the title and environmental defects were cured by the sellers and the Company paid the remaining portion of the purchase price. The promissory notes were classified as current at December 31, 2012.
In conjunction with the issuance of the promissory notes in December 2012, the Company recorded a discount of approximately $0.6 million to be amortized over the remaining life of the promissory notes using the effective interest method. The Company expensed the discount during the first quarter of 2013.
Debt Maturities
Aggregate maturities required on long-term debt at December 31, 2014 are due in future years as follows (in thousands, excluding discounts, premiums and deferred premiums on derivative contracts):

2015		$	—
2016			—
2017			846,669
2018			—
2019			—
Thereafter			2,900,000

Total		$	3,746,669


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 2014, the Company capitalized approximately $0.8 million in costs associated with the Eight Amendment to its Senior Credit Agreement. At December 31, 2014 and 2013, the Company had approximately $55.9 million and $64.3 million, respectively, of debt issuance costs remaining that are being amortized over the lives of the respective debt.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 31, 2014
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	7. 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 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 December 31, 2014 and 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 year ended December 31, 2014.

		December 31, 2014
		Level 1			Level 2			Level 3		Total
		(In thousands)
	Assets
	Receivables from derivative contracts	$	—		$	503,854		$	—	$	503,854


	Liabilities
	Liabilities from derivative contracts	$	—		$	8,068		$	1,319	$	9,387




		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 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 8, "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)
		December 31,
		2014			2013
	Beginning Balance	$	(2,816	)	$	—
	Net gain (loss) on derivative contracts		1,497			(2,816	)
	Settlements		—			—
	Purchase of derivative contracts		—			—
	Buy out of derivative contracts		—			—

	Ending Balance	$	(1,319	)	$	(2,816	)


	Change in unrealized gains (losses) included in earnings related to derivatives still held as of December 31, 2014 and 2013	$	1,497		$	(2,816	)


	As of December 31, 2014 and 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 December 31, 2014 and 2013 (excluding discounts, premiums and deferred premiums on derivative contracts.):

		December 31, 2014						December 31, 2013
	Debt	Carrying			Estimated			Carrying		Estimated
	Debt	Amount			Fair Value			Amount		Fair Value
		(In thousands)
	9.25% $400 million senior notes	$	400,000		$	300,000		$	400,000	$	407,432
	8.875% $1.35 billion senior notes		1,350,000			1,005,750			1,350,000		1,390,500
	9.75% $1.15 billion senior notes		1,150,000			872,862			1,150,000		1,197,438
	8.0% $289.7 million convertible note		289,669			260,643			289,669		368,418

		$	3,189,669		$	2,439,255		$	3,189,669	$	3,363,788


	The fair value of the Company's fixed interest debt instruments was calculated using Level 2 criteria at December 31, 2014 and 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.
During the year ended December 31, 2014 and 2013, the Company recorded a non-cash impairment charge of $35.6 million and $67.5 million, respectively, related to its gas gathering systems and other operating assets. See Note 1, "Summary of Significant Events and Accounting Policies," for a discussion of the valuation approach used and the classification of the estimate within the fair value hierarchy.
On June 16, 2014, the Company entered into a transaction to develop its Tuscaloosa Marine Shale assets with funds and accounts managed by affiliates of Apollo Global Management, LLC. See Note 11, "Mezzanine Equity," for a discussion of the valuation approach used to allocate the investment proceeds to the transaction's components, for the classification of the estimate within the fair value hierarchy, and for a reconciliation of the beginning and ending balances for the tranche rights and the embedded derivative.
As of July 1, 2013, the Company performed its annual goodwill impairment test which involved the fair value estimation of the Company's reporting unit. See Note 1, "Summary of Significant Events and Accounting Policies," for a discussion of the valuation approaches used and the classification of the estimate within the fair value hierarchy.
The Company recorded the net change in fair value on the August 2012 Warrants in "Interest expense and other, net" in the Company's consolidated statements of operations. At December 31, 2012, the Company valued the August 2012 Warrants based on observable market data, including treasury rates, historical volatility and data for similar instruments which resulted in the Company reporting its warrants as Level 2. During 2013, the Company recorded a gain of $1.6 million for the expiration of the warrants. See Note 12, "Stockholders' Equity" for additional discussion on the terms of the warrants.
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 9, "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	12 Months Ended
DERIVATIVE AND HEDGING ACTIVITIES	Dec. 31, 2014
DERIVATIVE AND HEDGING ACTIVITIES
DERIVATIVE AND HEDGING ACTIVITIES	8. 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 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 consolidated balance sheets as assets or liabilities, with the changes in the fair value included in the consolidated statements of operations for the period in which the change occurs. Historically, the Company has also entered into interest rate swaps to mitigate exposure to market rate fluctuations. The Company's hedge policies and objectives may change significantly as its operational profile changes and/or commodities prices change. 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 swaps, only with counterparties that are creditworthy financial institutions deemed by management as competent and competitive market makers. The counterparties to the Company's current derivative contracts are lenders or affiliates of lenders 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.
	The Company's crude oil and natural gas derivative positions at any point in time may consist of swaps, swaptions, costless put/call "collars," extendable costless collars and deferred 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. Swaptions are swap contracts that may be extended annually at the option of the counterparty on a designated date. 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. The Company has elected to not 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 consolidated statements of operations.
	At December 31, 2014, the Company had 72 open commodity derivative contracts summarized in the following tables: four natural gas collar arrangements, 42 crude oil collar arrangements, 16 crude oil swaps, 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.
	In February 2012, pursuant to the Senior Credit Agreement, the Company novated its oil and natural gas derivative instruments to counterparties that are lenders within the Senior Credit Agreement resulting in a realized loss of $0.4 million for novation fees and terminated the interest rate derivatives resulting in a $0.6 million realized loss, both of which were included in "Net gain (loss) on derivative contracts" on the consolidated statements of operations.
	All derivative contracts are recorded at fair market value in accordance with ASC 815 and ASC 820 and included in the consolidated balance sheets as assets or liabilities.
	The following table summarizes the location and fair value amounts of all derivative contracts in the consolidated balance sheets as of December 31, 2014 and 2013:

					Asset derivative								Liability
					contracts								derivative
													contracts
					December 31,								December 31,
			Balance sheet location		December 31,								December 31,
	Derivatives not designated as				2014			2013			Balance sheet location		2014			2013
	hedging contracts under ASC 815				2014			2013			Balance sheet location		2014			2013
					(In thousands)								(In thousands)
	Commodity contracts		Current assets—receivables from derivative contracts		$	352,530		$	2,028		Current liabilities—liabilities from derivative contracts		$	—		$	(17,859	)
	Commodity contracts		Other noncurrent assets—receivables from derivative contracts			151,324			22,734		Other noncurrent liabilities—liabilities from derivative contracts			(9,387	)		(19,333	)

	Total derivatives not designated as hedging contracts under ASC 815				$	503,854		$	24,762				$	(9,387	)	$	(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 consolidated statements of operations:

					Amount of gain or (loss)
					recognized in income on
					derivative contracts for the
			Location of gain or (loss) recognized in		year ended December 31,
	Derivatives not designated as hedging contracts		income on derivative contracts		2014			2013			2012
	under ASC 815				2014			2013			2012
					(In thousands)
	Commodity contracts:
	Unrealized gain (loss) on commodity contracts		Other income (expenses)—net gain (loss) on derivative contracts		$	506,526		$	(10,150	)	$	(13,723	)
	Realized gain (loss) on commodity contracts		Other income (expenses)—net gain (loss) on derivative contracts			12,430			(21,083	)		7,655

	Total net gain (loss) on commodity				$	518,956		$	(31,233	)	$	(6,068	)
	contracts				$	518,956		$	(31,233	)	$	(6,068	)

	Interest rate swaps:
	Unrealized gain (loss) on interest rate swaps		Other income (expenses)—net gain (loss) on derivative contracts		$	—		$	—		$	518
	Realized gain (loss) on interest rate swaps		Other income (expenses)—net gain (loss) on derivative contracts			—			—			(576	)

	Total net gain (loss) on interest rate swaps				$	—		$	—		$	(58	)

	Total net gain (loss) on derivative contracts		Other income (expenses)—net gain (loss) on derivative contracts		$	518,956		$	(31,233	)	$	(6,126	)


	At December 31, 2014 and 2013, the Company had the following open crude oil and natural gas derivative contracts:

								December 31, 2014
											Floors						Ceilings
	Period		Instrument		Commodity			Volume in			Price /			Weighted			Price /		Weighted
								Mmbtu's/			Price Range			Average			Price Range		Average
								Bbl's						Price					Price
	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			6,205,000			82.50 - 90.00			86.47			90.00 - 100.25		94.39
	January 2015 - December 2015		Collars			Natural Gas			6,387,500			4			4.00			4.55 - 4.85		4.68
	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			87.50			92.5		92.50
	April 2015 - December 2015		Collars			Crude Oil			412,500			87.5			87.50			92.5		92.50
	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			90.00			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			4.00			4.22		4.22
January 2016 - December 2016(3)		Swaps			Crude Oil			4,026,000			88.00 - 91.73			89.65


-1	Includes an outstanding crude oil collar which may be extended by the counterparty at the end of the contract 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 of 366,000 Bbls which may be extended by the counterparty at the end of the contract at a floor of $85.00 per Bbl and a ceiling of $96.00 per Bbl for the year ended December 31, 2016.
-2	Includes an outstanding crude oil swap which may be extended by the counterparty at the end of the contract 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 by the counterparty at the end of the contract 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 by the counterparty at the end of the contract 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 by the counterparty at the end of the contract 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 by the counterparty at the end of the contract 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 Sold
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		$95.00		$	95.00		$	98.60 - 109.50		$	100.03	$	70.00	$	70.00
January 2014 - June 2014		Collars		Crude Oil			724,000		90			90.00			96.50 - 99.50			98.00
January 2014 - December 2014		Collars		Natural Gas			11,862,500		3.75 - 4.00			3.85			4.26 - 4.55			4.35
January 2014 - December 2014		Collars		Crude Oil			7,573,750		85.00 - 95.00			88.67			93.60 - 108.45			96.22
April 2014 - June 2014		Three-Way Collars		Crude Oil			136,500		95			95.00			98.20 - 101.00			99.13		70.00		70.00
July 2014 - December 2014		Collars		Crude Oil			920,000		87.50 - 90.00			89.50			92.50 - 100.25			97.87
July 2014 - December 2014		Collars		Natural Gas			920,000		4			4.00			4.42			4.42
July 2014 - December 2014		Put		Crude Oil			184,000													90.00		90.00
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			4.00			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			88.30


-1	Includes an outstanding crude oil collar of 730,000 Bbls which may be extended by the counterparty at the end of the contract at a floor of $85.00 per Bbl and a ceiling of $96.20 per Bbl for the year ended December 31, 2016. Also includes an outstanding crude oil collar of 365,000 Bbls which may be extended by the counterparty at the end of the contract at a floor of $85.00 per Bbl and a ceiling of $96.00 per Bbl for the year ended December 31, 2016.
-2	Includes an outstanding crude oil swap of 730,000 Bbls which may be extended by the counterparty at the end of the contract at a price of $91.25 per Bbl for the year ended December 31, 2016. Also includes certain outstanding crude oil swaps totaling 365,000 Bbls which may be extended by the counterparty at the end of the contract at a price of $91.00 per Bbl for the year ended December 31, 2016.
-3	Includes an outstanding crude oil swap of 730,000 Bbls which may be extended by the counterparty at the end of the contract at a price of $88.25 per Bbl for the year ended December 31, 2017. Also includes certain outstanding crude oil swaps totaling 912,500 Bbls which may be extended by the counterparty at the end of the contract at a price of $88.00 per Bbl for the year ended December 31, 2017. Includes an outstanding crude oil swap of 547,500 Bbls which may be extended by the counterparty at the end of the contract at a price of $88.87 per Bbl for the year ended December 31, 2017.
The Company presents the fair value of its derivative contracts at the gross amounts in the 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 December 31, 2014 and 2013:

		Derivative Assets						Derivative Liabilities
		December 31,						December 31,
Offsetting of Derivative Assets and Liabilities		2014			2013			2014			2013
		(In thousands)
Gross amounts presented in the consolidated balance sheet		$	503,854		$	24,762		$	(9,387	)	$	(37,192	)
Amounts not offset in the consolidated balance sheet			(9,655	)		(20,036	)		9,387			19,507

Net amount		$	494,199		$	4,726		$	—		$	(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	12 Months Ended
ASSET RETIREMENT OBLIGATIONS	Dec. 31, 2014
ASSET RETIREMENT OBLIGATIONS
ASSET RETIREMENT OBLIGATIONS	9. 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 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 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 years ended December 31, 2014 and 2013 (in thousands, inclusive of the current portion):

	Liability for asset retirement obligation as of December 31, 2012		$	75,132
	Liabilities settled and divested(1)			(55,905	)
	Additions			11,730
	Acquisitions			4,236
	Accretion expense			3,596
	Revisions in estimated cash flows			468

	Liability for asset retirement obligation as of December 31, 2013		$	39,257
	Liabilities settled and divested(1)			(9,367	)
	Additions			4,171
	Acquisitions			181
	Accretion expense			1,822
	Revisions in estimated cash flows			2,413

	Liability for asset retirement obligation as of December 31, 2014		$	38,477




	-1	See Note 4, "Acquisitions and Divestitures" for additional information on the Company's divestiture activities.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2014
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	10. COMMITMENTS AND CONTINGENCIES
	Commitments
	The Company leases corporate office space in Houston, Texas; and Denver, Colorado as well as a number of other field office locations. In addition, the Company has lease commitments for certain equipment under long-term operating lease agreements. The office and equipment operating lease agreements expire on various dates through 2024. Rent expense was approximately $8.1 million, $8.7 million and $3.7 million for the years ended December 31, 2014, 2013 and 2012, respectively. Approximate future minimum lease payments for subsequent annual periods for all non-cancelable operating leases as of December 31, 2014 are as follows (in thousands):

	2015	$	8,959
	2016		8,875
	2017		9,053
	2018		9,291
	2019		9,020
	Thereafter		14,795

	Total	$	59,993


	As of December 31, 2014, the Company has drilling rig commitments as follows (in thousands):

	2015	$	31,400
	2016		26,453
	2017		14,243
	2018		3,360
	2019		—
	Thereafter		—

	Total	$	75,456


	As of December 31, 2014, early termination of the drilling rig commitments would require termination penalties of $48.7 million, which would be in lieu of paying the remaining drilling commitments of $75.5 million.
	In January 2015, the Company made the decision to early terminate a drilling rig contract in response to the recent decline in crude oil prices, and as such, the Company will incur an early termination fee of $6.0 million, payable over the first half of 2015. If certain requirements are not met during the period ending January 2020, the Company may incur up to an additional $3.0 million in connection with this drilling rig contract. In addition, the Company has a new drilling rig commitment, scheduled to begin in the second quarter of 2015, for which the Company expects to incur a stacking fee of $17,000 per day. The current rig contract term extends through the second quarter of 2018. These obligations are not included in the table above.
	The Company has various other contractual commitments for, among other things, pipeline and well equipment, seismic, and infrastructure related expenditures as follows (in thousands):

	2015	$	10,518
	2016		—
	2017		—
	2018		—
	2019		—
	Thereafter		—

	Total	$	10,518


	The Company has entered into various long-term gathering, transportation and sales contracts in its Bakken / Three Forks formations in North Dakota which are not included in the tables above. As of December 31, 2014, the Company had in place nine long-term crude oil contracts and two long-term natural gas contracts in this area and the sales prices under these contracts are based on posted market rates. 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 Company believes that there are sufficient available reserves and supplies in the Bakken / Three Forks formations to meet its commitments, as the proved reserves from this area represent approximately 74% of its total proved reserves. 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 required 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 consolidated 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. As of December 31, 2014, approximately $71.9 million of the Carry Amount remained in escrow to be spent by the Seller. Any portion of the Carry Amount not spent by the Seller, in accordance with the Agreement, on or before August 31, 2017, will be returned to the Company.
	On June 16, 2014, the Company entered into a transaction to develop its TMS assets with funds and accounts managed by affiliates of Apollo Global Management, LLC. See Note 11, "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 consolidated operating results, financial position or cash flows.

MEZZANINE_EQUITY

MEZZANINE EQUITY	12 Months Ended
MEZZANINE EQUITY	Dec. 31, 2014
MEZZANINE EQUITY
MEZZANINE EQUITY	11. MEZZANINE EQUITY
	On June 16, 2014, 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 held all of the Company's undeveloped acreage in Mississippi and Louisiana that management believes is prospective for the 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. 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. For the year ended December 31, 2014, HK TMS paid Apollo approximately $3.5 million in cash dividends and issued 3,025 additional preferred shares for dividends paid in-kind. Upon the election of in-kind dividends, HK TMS must pay a fee of $5.00 per preferred share then outstanding (PIK exit fee). Such fees will be due upon redemption of the preferred shares. These dividends are presented within "Preferred dividends and accretion on redeemable noncontrolling interest" on the consolidated statements of operations. For the year ended December 31, 2014, HK TMS incurred PIK exit fees totaling $0.8 million, which were recorded at fair value within "Other noncurrent liabilities" on the consolidated balance sheets. 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 after December 31, 2016 by paying the Redemption Price, or may be required to redeem the preferred shares for the Redemption Price plus certain fees under certain circumstances.
	The preferred shares have been classified as "Redeemable noncontrolling interest" and included in "Mezzanine equity" between total liabilities and stockholders' equity on the consolidated balance sheets pursuant to ASC 480-10-S99-3A. The preferred shares, 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. The accretion is presented as a deemed dividend and recorded in "Redeemable noncontrolling interest" on the consolidated balance sheet and within "Preferred dividends and accretion on redeemable noncontrolling interest" on the consolidated statements of operations. 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 No. 810, Consolidation (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 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, with fair value changes recorded in "Interest expense and other, net" on the consolidated statements of operations.
	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 in "Unevaluated properties" on the consolidated balance sheets and within "Proceeds received from the sale of oil and natural gas assets" on the 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
	Embedded derivative		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.
	The following table sets forth a reconciliation of the changes in fair value of the Tranche Rights and embedded derivative classified as Level 3 in the fair value hierarchy (in thousands):

		Tranche			Embedded
		rights			derivative
	Balances at June 30, 2014	$	4,516		$	857
	Change in fair value		(7,150	)		5,106

	Balances at December 31, 2014	$	(2,634	)	$	5,963


	As part of the transaction, there are certain restrictions on the transfer of assets, including cash, to the Company from HK TMS. HK TMS is required to maintain a minimum cash balance equal to two quarterly dividend payments, of approximately $3.0 million each, plus $10.0 million, which is presented on the consolidated balance sheets in "Restricted cash." Additionally, the quarterly 8% dividends paid to holders of the HK TMS preferred shares have priority over other cash distributions. No dividends shall be paid to the Company from HK TMS prior to December 31, 2016. HK TMS is restricted from transferring more than 20% of its maximum net acres and from transferring any assets exceeding 20% of HK TMS's proved reserves at any one time. Finally, proceeds from any such transfers of acres or other assets must be used for HK TMS's capital or operating expenditures, or to redeem the preferred shares.
	The Company recorded the following activity related to the preferred shares recorded in "Mezzanine equity" for the year ended December 31, 2014 (in thousands, except 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		—			(2,543	)
	Dividends paid in-kind		3,025			3,025
	Accretion of redeemable noncontrolling interest		—			6,633

	Balances at December 31, 2014		153,025		$	117,166

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
STOCKHOLDERS' EQUITY	Dec. 31, 2014
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY
	12. STOCKHOLDERS' EQUITY
	Preferred Stock and Non-Cash Preferred Stock Dividend
	On February 29, 2012 (the Commitment Date), the Company entered into definitive agreements with a group of certain institutional and selected other accredited investors (collectively, the investors) to sell, in a private offering, 4,444.4511 shares of 8% Automatically Convertible Preferred Stock, par value $0.0001 per share (the Preferred Stock), each share of which was convertible into 10,000 shares of common stock. Also on February 29, 2012, the Company received an executed written consent (the Consent) in lieu of a stockholders' meeting authorizing and approving the conversion of the Preferred Stock into common stock. On March 2, 2012, the Company filed a Certificate of Designation, Preferences, Rights and Limitations of the Preferred Stock (the Certificate of Designation) with the Delaware Secretary of State which stated the conversion was to occur on the twentieth day after the mailing of a definitive information statement to stockholders. On March 5, 2012, the Company issued the Preferred Stock to the investors at $90,000 per share. Gross proceeds from the offering were approximately $400.0 million, or $9.00 per share of common stock, before offering expenses. The Company incurred placement agent fees of $14.0 million and associated expenses of approximately $0.5 million in connection with this offering. On March 28, 2012, the Company mailed a definitive information statement to its common stockholders notifying them that Halcón's majority stockholder had consented to the issuance of common stock, par value $0.0001, upon the conversion of the Preferred Stock. The Preferred Stock automatically converted into 44.4 million shares of common stock on April 17, 2012 in accordance with the terms of the Certificate of Designation. No cash dividends were paid on the Preferred Stock since pursuant to the terms of the Certificate of Designation of the Preferred Stock, conversion occurred prior to May 31, 2012. On November 30, 2012, the Company filed a Certificate of Elimination with the Delaware Secretary of State eliminating all provisions of the Certificate of Designation of the Preferred Stock.
	In accordance with ASC 470, Debt (ASC 470), the Company determined that the conversion feature in the Preferred Stock represented a beneficial conversion feature. The fair value of the common stock of $10.99 per share on the Commitment Date was greater than the conversion price of $9.00 per share of common stock, representing a beneficial conversion feature of $1.99 per share of common stock, or $88.4 million in aggregate. Under ASC 470, $88.4 million (the intrinsic value of the beneficial conversion feature) of the proceeds received from the issuance of the Preferred Stock was allocated to additional paid-in capital, creating a discount on the Preferred Stock (the Discount). The Discount resulting from the allocation of value to the beneficial conversion feature was required to be amortized on a non-cash basis over the approximate 71-month period between the issuance date and the required redemption date of February 9, 2018, or fully amortized upon an accelerated date of redemption or conversion, and recorded as a preferred dividend. As a result, approximately $1.1 million of the Discount was amortized and a non-cash preferred dividend was recorded in the first quarter of 2012 and due to the conversion date occurring on April 17, 2012, the remaining $87.3 million of Discount amortization was accelerated to the conversion date and was fully amortized in the second quarter of 2012 as per the guidance of ASC 470. The Discount amortization is reflected as non-cash preferred dividend in the consolidated statements of operations. In accordance with the guidance in ASC 480, the preferred dividend was charged against additional paid-in capital since no retained earnings were available.
	On December 6, 2012, the Company completed the Williston Basin Acquisition for a total adjusted purchase price of approximately $1.5 billion, consisting of approximately $788.8 million in cash and approximately $695.2 million in newly issued shares of Halcón preferred stock that automatically converted into 108.8 million shares of Halcón common stock (equivalent to a conversion price of approximately $7.45 per share of Halcón common stock), following stockholder approval on January 17, 2013 of such conversion and an amendment to Halcón's certificate of incorporation to increase the number of shares of common stock that Halcón is authorized to issue. The shares of preferred stock were issued to the Petro-Hunt Parties in a private placement pursuant to the exemptions from registration under Section 4(2) of the Securities Act of 1933, as amended.
	On January 17, 2013, the Company received the results from the special stockholders' meeting authorizing and approving the issuance of 108.8 million shares of common stock upon the conversion of the convertible preferred stock issued to the Petro-Hunt Parties. Following the approval by the stockholders, on January 18, 2013, each outstanding share of the Company's preferred stock converted into 10,000 shares of its common stock at an effective conversion price of approximately $7.45 per share. No proceeds were received by the Company upon conversion of the preferred stock. No cash dividends were paid on the preferred stock since pursuant to the terms of the Certificate of Designation of the preferred stock, conversion occurred prior to April 6, 2013. On June 13, 2013, the Company filed a Certificate of Elimination with the Delaware Secretary of State eliminating all provisions of the Certificate of Designation.
	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 Company filed a Certificate of Designations, Preferences, Rights and Limitations of 5.75% Series A Convertible Preferred Stock on June 17, 2013 (the Series A Designation). The net proceeds to the Company from the offering of the Series A Preferred Stock were approximately $335.2 million, after deducting the underwriting discount and 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.
	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, commencing on September 1, 2013. During the year ended December 31, 2014 and 2013, the Company incurred cumulative, declared dividends of $19.8 million by paying $5.0 million in cash and issuing approximately 3.3 million shares of common stock and $9.1 million by issuing approximately 2.0 million shares of common stock, respectively, reflected as cash and non-cash dividends. As of December 31, 2014 and 2013, 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 as described below.
	Each share of Series A Preferred Stock is convertible, at the holder's option at any time, initially into approximately 162.4431 shares of common stock of the Company (which is equivalent to an initial 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.
	On December 6, 2012, the Company completed the private placement of 41.9 million shares of common stock, par value $0.0001 per share, to CPP Investment Board PMI-2 Inc. (CPPIB), for gross proceeds of approximately $300.0 million, or $7.16 per share of common stock (the CPPIB Transaction). The net proceeds to the Company were $294.0 million following the payment of a $6.0 million capital commitment payment to CPPIB upon closing of the transaction. The shares of Halcón common stock were issued to CPPIB in a private placement pursuant to the exemptions from registration provided under Section 4(2) of the Securities Act. On September 27, 2013, the Company filed a shelf registration statement providing for the resale of certain of the shares of the Company's common stock held by CPPIB and its affiliates.
	In early August 2012, in connection with the Merger and the East Texas Acquisition, the Company issued 51.3 million and 20.8 million shares of common stock, respectively. The shares were issued at closing of the transactions as a portion of the consideration of the purchase price. See Note 4, "Acquisitions and Divestitures," for additional discussion on the issuance of common stock in connection with these transactions.
	On February 8, 2012, pursuant to the closing of the Recapitalization described in Note 2, "Recapitalization," the Company issued 73.3 million shares of the Company's common stock for a purchase price of $275.0 million. Costs incurred of $4.0 million were netted against the proceeds of the common stock and recorded accordingly. In addition, the Company amended its certificate of incorporation to increase the Company's authorized shares of common stock from 33.3 million shares to 336.7 million shares.
	Warrants
	In February 2012, in conjunction with the issuance of the 2017 Notes, the Company issued the February 2012 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 pursuant to the Recapitalization described in Note 2, "Recapitalization." 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 Merger, the Company assumed outstanding GeoResources stock warrants. At the date of the Merger 0.6 million warrants were outstanding and 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 contain 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 from the Merger. These adjustments convert the terms to fundamentally equal what the warrant holders would have received had the warrants been exercised immediately prior to the close of the Merger. Under the terms of the August 2012 Warrants, the warrant holder must exercise the Share Portion and the Cash Portion in tandem. The August 2012 Warrants expired on June 9, 2013. The August 2012 Warrants were reflected as a current liability in the consolidated balance sheets at December 31, 2012 and were recorded at fair value. During 2013, the Company recorded a gain of $1.6 million for the expiration of the warrants. Changes in fair value and the gain upon expiration were recognized in "Interest expense and other, net" in the consolidated statements of operations.
	Incentive Plan
	On May 8, 2006, the Company's stockholders first approved its 2006 Long-Term Incentive Plan (the Plan). The Company reserved a maximum of 0.8 million shares of its common stock for issuances under the Plan. On May 8, 2008, the Plan was amended to increase the maximum authorized number of shares to be issued under the Plan from 0.8 million to 2.0 million. On May 3, 2010, the Plan was amended to increase the maximum authorized number of shares to be issued under the Plan from 2.0 million to 2.5 million. On February 8, 2012, as part of the Recapitalization described in Note 2, "Recapitalization," the Plan was amended to increase the maximum authorized number of shares to be issued under the Plan from 2.5 million to 3.7 million. On May 17, 2012, shareholders approved an amendment and restatement of the Plan to (i) increase the maximum number of shares to be issued under the Plan from 3.7 million to 11.5 million; (ii) extend the effectiveness of the Plan for ten years from the date of approval; and (iii) amend various other provisions of the Plan. On May 23, 2013 shareholders approved an increase in authorized shares under the Plan from 11.5 million to 41.5 million. As of December 31, 2014 and 2013, a maximum of 5.1 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 stock options and restricted stock, to be recognized in the financial statements based on their fair values.
	For the years ended December 31, 2014, 2013 and 2012, respectively, the Company recognized $18.7 million, $17.1 million, and $6.7 million, respectively, of share-based compensation expense as a component of "General and administrative" on the consolidated statements of operations.
	Performance Share Units
	During the year ended December 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 provides 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 utilizes $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.
	The weighted average grant date fair value of PSUs granted in 2014 was $4.9 million. At December 31, 2014, the unrecognized compensation expense related to non-vested PSUs totaled $3.6 million. The weighted average remaining vesting period as of December 31, 2014 was 2.2 years.
	The following table sets forth the PSU transactions for the year ended December 31, 2014:

			Number			Weighted Average			Aggregate
			of Shares			Grant Date			Intrinsic
						Fair Value			Value(1)
						Per Share			(In thousands)
	Unvested outstanding shares at December 31, 2013			—		$	—		$	—
	Granted			1,604,140			3.08
	Vested			—			—
	Forfeited			—			—

	Unvested outstanding shares at December 31, 2014			1,604,140		$	3.08		$	—




	-1	The intrinsic value of PSUs was calculated as the closing market price on December 31, 2014 of the underlying stock multiplied by the number of PSUs that would be convertible. There are no vested PSUs as of December 31, 2014.
	The assumptions used in calculating the Monte Carlo simulation model fair value of the Company's PSU for the year ended December 31, 2014 are disclosed in the following table:

			Year Ended
			December 31, 2014
	Weighted average value per option granted during the period		$
	Weighted average value per option granted during the period		3.08
	Assumptions:
	Stock price volatility(1)		48.00%
	Risk free rate of return		0.68%
	Expected term		3 years


	-1	Due to the Company's limited historical data, expected volatility was estimated using volatilities of similar entities whose share or options prices and assumptions are publicly available.
	Stock Options
	From time to time, the Company grants stock options under the Plan covering shares of common stock to employees of the Company. Stock options, when exercised, are settled through the payment of the exercise price in exchange for new shares of stock underlying the option. 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.
The weighted average grant date fair value of options granted in 2014, 2013, and 2012 was $13.2 million, $16.4 million, and $16.5 million, respectively. At December 31, 2014 and 2013, the unrecognized compensation expense related to non-vested stock options totaled $12.4 million and $13.7 million, respectively. The weighted average remaining vesting period as of December 31, 2014 and 2013 was 1.2 years.
The following table sets forth the stock option transactions for the years ended December 31, 2014, 2013 and 2012:

		Number			Weighted Average			Aggregate			Weighted Average
					Exercise Price			Intrinsic			Remaining
					Per Share			Value(1)			Contractual
								(In thousands)			Life (Years)
Outstanding at December 31, 2011			—		$	—		$	—			—
Granted			4,847,333			7.24
Exercised			—			—
Forfeited			(35,500	)		9.35

Outstanding at December 31, 2012			4,811,833		$	7.22		$	2,944			9.7
Granted			6,171,000			7.07
Exercised			—			—
Forfeited			(566,588	)		6.8

Outstanding at December 31, 2013			10,416,245		$	7.15		$	—			9
Granted			9,683,822			2.94
Exercised			—			—
Forfeited			(1,176,357	)		6.21

Outstanding at December 31, 2014			18,923,710		$	5.05		$	724			8.7




-1	The intrinsic value of a stock option is the amount by which the current market value of the underlying stock exceeds the exercise price of the option. No stock options were exercised during the years ended December 31, 2014, 2013 and 2012.
Options outstanding at December 31, 2014 consisted of the following:

Outstanding											Exercisable(1)
Range of Grant		Number			Weighted Average			Weighted Average			Number		Weighted Average		Aggregate		Weighted Average
Prices Per Share					Exercise Price			Remaining					Exercise Price		Intrinsic		Remaining
					per Share			Contractual Live					per Share		Value		Contractual Live
								(Years)									(Years)
$1.57			3,448,100		$	1.57			9.9			—	$	—	$	—		—
$3.04 - $3.67			5,799,767			3.67			9.2			—		—		—		—
$3.96 - $5.48			1,711,708			5.43			7.9			—		—		—		—
$5.51 - $7.09			1,385,002			6.60			7.9			—		—		—		—
$7.10			4,850,267			7.10			8.2			—		—		—		—
$7.16 - $11.55			1,728,866			9.31			7.5			—		—		—		—


-1	At December 31, 2014, none of the Company's options were exercisable due to service performance conditions or option exercise prices below the current market value of the underlying stock as of December 31, 2014.
The aggregate intrinsic value of vested and exercisable options as of December 31, 2014 was zero. The aggregate intrinsic value of options vested as of December 31, 2014 was zero. The intrinsic value is based on the current market value of the underlying stock price of $1.78 as of December 31, 2014.
The assumptions used in calculating the Black-Scholes-Merton valuation model fair value of the Company's stock options for the years ended December 31, 2014, 2013 and 2012 are disclosed in the following table:

		Years Ended December 31,
		2014		2013		2012
Weighted average value per option granted during the period		$		$		$
Weighted average value per option granted during the period		1.36		2.65		3.40
Assumptions:
Stock price volatility(1)		51.48%		57.31%		61.84%
Risk free rate of return		1.56%		0.89%		0.54%
Expected term		5 years		5 years		4 years


-1	Due to the Company's limited historical data, expected volatility was estimated using volatilities of similar entities whose share or options prices and assumptions are publicly available.
Restricted Stock
From time-to-time, the Company grants shares of restricted stock to employees and non-employee directors of the Company. 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.
The weighted average grant date fair value of the shares granted in 2014, 2013, and 2012 was $23.7 million, $22.5 million and $2.8 million, respectively. At December 31, 2014 and 2013, the unrecognized compensation expense related to non-vested restricted stock totaled $18.4 million and $10.0 million, respectively. The weighted average remaining vesting period as of December 31, 2014 and 2013 was 1.5 and 1.2 years, respectively.
In February 2012, the Company realized compensation expense of $2.6 million primarily from the accelerated vesting of all unvested employee restricted stock shares outstanding at the time of the change in control in the Company resulting from the Recapitalization as described in Note 2, "Recapitalization."
The following table sets forth the restricted stock transactions for the years ended December 31, 2014, 2013 and 2012:

		Number of			Weighted Average			Aggregate
		Shares			Grant Date Fair			Intrinsic
					Value Per Share			Value(1)
								(In thousands)
Unvested outstanding shares at December 31, 2011			837,487		$	5.92		$	7,864
Granted			312,900			8.91
Vested			(334,838	)		5.44
Accelerated vesting(2)			(547,649	)		7.43
Forfeited			—			—

Unvested outstanding shares at December 31, 2012			267,900		$	8.72		$	1,854
Granted			3,266,450			6.9
Vested			(543,563	)		6.43
Accelerated vesting(3)			(142,610	)		7.1
Forfeited			(204,783	)		6.96

Unvested outstanding shares at December 31, 2013			2,643,394		$	7.16		$	10,204
Granted			9,388,028			2.52
Vested			(1,231,475	)		6.81
Forfeited			(455,488	)		4.61

Unvested outstanding shares at December 31, 2014			10,344,459		$	3.11		$	18,413




-1	The intrinsic value of restricted stock was calculated as the closing market price on December 31, 2014, 2013, and 2012 of the underlying stock multiplied by the number of restricted shares. The total fair value of shares vested were $5.1 million, $3.5 million and $9.2 million for the years ended 2014, 2013, and 2012, respectively.
-2	Represents accelerated vesting of all unvested employee restricted stock shares outstanding at the time of the change in control in the Company resulting from the Recapitalization.
-3	Represents accelerated vesting of unvested employee restricted stock at the time of severance in conjunction with the Company's divestiture of non-core assets.
Stock Appreciation Rights
In May 2011, the Company granted 0.5 million stock appreciation rights (SARs) under the Plan at an exercise price of $5.19 per share of common stock, which was the weighted average closing price of the Company's common stock on the date of grant. Compensation expense related to the SARs is based on fair value re-measured at each reporting period and recognized over the vesting period (generally four years). As of December 31, 2011, the fair value calculation resulted in $0.8 million unrealized loss recognized as share-based compensation expense, a component of "General and administrative" on the consolidated statements of operations, and $0.1 million as restructuring costs on the consolidated statements of operations during the year ended December 31, 2011. The SARs expire ten years from date of grant and upon exercise. The terms of the SARs require settlement in cash, net of applicable taxes. In February 2012, the Company accelerated vesting and exercise of all unvested SARs under the Plan, due to the change in control of the Company resulting from the Recapitalization described in Note 2, "Recapitalization." The Company settled the SARs in cash, resulting in $2.2 million of share-based compensation expense recognized for the year ended December 31, 2012. The realized compensation expense was partially offset by the reversal of $0.8 million of unrealized losses recorded at December 31, 2011.
A summary of the non-vested SARs as of December 31, 2011, and changes during the year ended December 31, 2012, is presented below:

		Number			Weighted Average
					Grant Date
					Fair Value
Non-vested at December 31, 2011			418,333		$	5.19
Granted			—			—
Vested			(84,418	)		5.19
Accelerated vesting(1)			(333,915	)		5.19
Forfeited			—			—

Non-vested at December 31, 2012			—		$	—




-1	Represents accelerated vesting of all unvested employee SARs outstanding at the time of the change in control in the Company resulting from the Recapitalization.
The Company uses the Black-Scholes option pricing model to compute the fair value of the SARs. The following assumptions were used in calculating fair value:
•	The risk-free interest rate is based on the zero coupon United States Treasury yield for the expected life of the grant.
•	The dividend yield on the Company's common stock is assumed to be zero since the Company does not pay dividends and has no current plans to do so in the future.
•	The volatility of the Company's common stock is based on volatility of the market price of the Company's common stock over a period of time equal to the expected term and ending on the grant date.

INCOME_TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2014
INCOME TAXES
INCOME TAXES	13. INCOME TAXES
	Income tax benefit (provision) for the indicated periods is comprised of the following:

			Years Ended December 31,
			2014			2013			2012
			(In thousands)
	Current:
	Federal		$	1,295		$	(1,523	)	$	—
	State			(219	)		—			121

				1,076			(1,523	)		121

	Deferred:
	Federal			2,653			145,098			12,265
	State			(2,653	)		14,141			795

				—			159,239			13,060

	Total income tax benefit (provision)		$	1,076		$	157,716		$	13,181


	The actual income tax benefit (provision) differs from the expected income tax benefit (provision) as computed by applying the United States Federal corporate income tax rate of 35% for each period as follows:

			Years Ended December 31,
			2014			2013			2012
			(In thousands)
	Expected tax benefit (provision)		$	(110,208	)	$	483,132		$	23,485
	State income tax expense, net of federal benefit(1)			(4,615	)		15,904			455
	Goodwill impairment			—			(80,106	)		—
	Merger costs			—			—			(3,580	)
	Debt related costs			(5,467	)		(2,465	)		(3,239	)
	Increase (reduction) in deferred tax asset			19,233			4,616			(3,218	)
	Change in valuation allowance and related items			102,068			(262,847	)		—
	Other			65			(518	)		(722	)

	Total income tax benefit (provision)		$	1,076		$	157,716		$	13,181




	-1	Included in this amount for the year ended December 31, 2013, is approximately $4.4 million related to the goodwill impairment.
	The components of net deferred income tax assets and (liabilities) recognized are as follows:

			December 31,
			2014			2013
			(In thousands)
	Deferred current income tax assets:
	Unrealized hedging transactions		$	—		$	6,028
	Other			245			551

	Gross deferred current income tax assets			245			6,579
	Valuation allowance			(57	)		(2,953	)

	Deferred current income tax assets		$	188		$	3,626


	Deferred current income tax liabilities:
	Unrealized hedging transactions		$	(132,939	)	$	—
	Change in accounting method(1)			(4,075	)		(12,100	)

	Deferred current income tax liabilities		$	(137,014	)	$	(12,100	)


	Net current deferred income tax assets (liabilities)		$	(136,826	)	$	(8,474	)


Deferred noncurrent income tax assets:
Net operating loss carry-forwards		$	601,566		$	551,567
Share-based compensation expense			15,035			8,628
Asset retirement obligations			14,089			14,454
Investment in unconsolidated entities			62,340			—
Other			9,591			9,439

Gross deferred noncurrent income tax assets			702,621			584,088
Valuation allowance			(163,007	)		(262,179	)

Deferred noncurrent income tax assets		$	539,614		$	321,909


Deferred noncurrent income tax liabilities:
Book-tax differences in property basis		$	(345,189	)	$	(286,155	)
Change in accounting method(1)			(4,075	)		(24,201	)
Unrealized hedging transactions			(53,524	)		(1,326	)
Investment in unconsolidated entities			—			(1,753	)

Deferred noncurrent income tax liabilities		$	(402,788	)	$	(313,435	)


Net noncurrent deferred income tax assets (liabilities)		$	136,826		$	8,474




-1	In December 2013 the Company filed Form 3115, Application for Change in Accounting Method, related to certain property, plant and equipment expenditures and the tax impacts of the filing are reflected in the amounts above.
ASC 740, Income Taxes (ASC 740) prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of income tax positions taken or expected to be taken in an income tax return. For those benefits to be recognized, an income tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company has no unrecognized tax benefits for the years ended December 31, 2014, 2013 or 2012.
Generally, the Company's income tax years 2011 through 2014 remain open and subject to examination by Federal tax authorities or the tax authorities in Louisiana, Mississippi, Montana, North Dakota, Oklahoma, Texas, Pennsylvania, Utah, West Virginia and certain other small state taxing jurisdictions where the Company has its principal operations. In certain jurisdictions the Company operates through more than one legal entity, each of which may have different open years subject to examination.
The Company recognizes interest and penalties accrued to unrecognized benefits in "Interest expense and other, net" in its consolidated statements of operations. For the years ended December 31, 2014, 2013 and 2012 the Company recognized no interest and penalties.
As of December 31, 2014, the Company has available, to reduce future taxable income, a United States net operating loss carryforwards (NOLs) of approximately $1.6 billion (net of excess income tax benefits not recognized of $4.2 million) before consideration of any valuation allowance which expires in the years 2020 thru 2034. A portion of these net operating loss carryforwards are subject to the ownership change limitation provisions of Section 382 of the Internal Revenue Code (IRC). The Company also has various net state NOL carryforwards of approximately $26.9 million, before consideration of any valuation allowance with varying lengths of allowable carryforward periods ranging from five to 20 years that can be used to offset future state taxable income.
The Company assesses the recoverability of its deferred tax assets each period by considering whether it is more likely than not that all or a portion of the deferred tax assets will not be realized. The Company considers all available evidence (both positive and negative) in determining whether a valuation allowance is required. The Company evaluated 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 in making this assessment. A significant item of objective negative evidence considered was the cumulative book loss over the three-year period ended December 31, 2014 driven primarily by the full cost ceiling impairments over that period which limits the ability to consider other subjective evidence such as the Company's anticipated future growth. As a result of the Company's analysis, it was concluded that as of December 31, 2014 a valuation allowance should continue to be applied against the Company's net deferred tax asset. The Company recorded a valuation allowance as of December 31, 2014 of $163.1 million, $0.1 million of which was classified as current, a decrease of $102.0 million from December 31, 2013. The Company will continue to monitor facts and circumstances in the reassessment of the likelihood that operating loss carryforwards, credits and other deferred tax assets will be utilized.
On September 13, 2013, the United States Treasury Department and the Internal Revenue Service issued final tangible property regulations (the tangible property regulations) under provisions that include IRC Sections 162, 167 and 263(a). The tangible property regulations apply to amounts paid to acquire, produce or improve tangible property, as well as dispositions of such property. The general effective date of the tangible property regulations are for tax years beginning on or after January 1, 2014. Based on the Company's analysis management did not consider the impacts of the tangible property regulations to be material to the Company's consolidated financial position, its results of operations, or both.
During the first quarter of 2014, the Internal Revenue Service commenced an audit of GeoResources' tax returns for the years ending December 31, 2010 through August 1, 2012. The audit is ongoing as of the date of this filing with no proposed adjustments to date.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	12 Months Ended
EARNINGS PER SHARE	Dec. 31, 2014
EARNINGS PER COMMON SHARE
EARNINGS PER SHARE	14. EARNINGS PER SHARE
	The following represents the calculation of earnings per share:

			Years Ended December 31,
			2014		2013			2012
			(In thousands, except per share amounts)
	Basic:
	Net income (loss) available to common stockholders		$	282,942	$	(1,233,407	)	$	(142,330	)


	Weighted average basic number of common shares outstanding			415,772		379,621			156,494

	Basic net income (loss) per common share		$	0.68	$	(3.25	)	$	(0.91	)


	Diluted:
	Net income (loss) available to common stockholders		$	282,942	$	(1,233,407	)	$	(142,330	)

	Net income from assumed conversions			35,140		—			—

	Net income (loss) available to common stockholders after assumed conversions		$	318,082	$	(1,233,407	)	$	(142,330	)


	Weighted average basic number of common shares outstanding			415,772		379,621			156,494
	Common stock equivalent shares representing shares issuable upon:
	Exercise of stock options			377		Anti-dilutive			Anti-dilutive
	Exercise of February 2012 Warrants			3,920		Anti-dilutive			Anti-dilutive
	Exercise of August 2012 Warrants(1)			—		Anti-dilutive			Anti-dilutive
	Vesting of restricted shares			1,549		Anti-dilutive			Anti-dilutive
	Vesting of performance units			362		—			—
	Conversion of 2017 Notes			64,371		Anti-dilutive			Anti-dilutive
	Conversion of preferred stock(2)			—		Anti-dilutive			Anti-dilutive
	Conversion of Series A Preferred Stock			56,043		Anti-dilutive			—

	Weighted average diluted number of common shares outstanding			542,394		379,621			156,494

	Diluted net income (loss) per common share		$	0.59	$	(3.25	)	$	(0.91	)




	-1	The August 2012 warrants expired on June 9, 2013.
	-2	The preferred stock converted into shares of common stock on January 18, 2013.
	Common stock equivalents, including stock options, restricted shares and warrants, totaling 30.9 million shares were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive for the year ended December 31, 2014.
	Common stock equivalents, including stock options, restricted shares, warrants, convertible debt and convertible preferred stock, totaling 149.5 million shares were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive for the year ended December 31, 2013 due to the net loss.
	Common stock equivalents, including stock options, warrants, convertible debt and convertible preferred stock, totaling 215.8 million shares were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive for the year ended December 31, 2012 due to the net loss.

ADDITIONAL_FINANCIAL_STATEMENT

ADDITIONAL FINANCIAL STATEMENT INFORMATION	12 Months Ended
ADDITIONAL FINANCIAL STATEMENT INFORMATION	Dec. 31, 2014
ADDITIONAL FINANCIAL STATEMENT INFORMATION
ADDITIONAL FINANCIAL STATEMENT INFORMATION	15. ADDITIONAL FINANCIAL STATEMENT INFORMATION
	Certain balance sheet amounts are comprised of the following:

		December 31,
		2014		2013
		(In thousands)
	Accounts receivable:
	Oil, natural gas and natural gas liquids revenues	$	104,370	$	129,355
	Joint interest accounts		140,352		170,907
	Accrued settlements on derivative contracts		25,929		—
	Affiliated partnership		661		500
	Other		5,247		11,756

		$	276,559	$	312,518


	Prepaids and other:
	Prepaid	$	6,030	$	5,636
	Income tax receivable		2,991		10,404
	Other		58		58

		$	9,079	$	16,098


	Accounts payable and accrued liabilities:
	Trade payables	$	60,512	$	87,661
	Accrued oil and natural gas capital costs		308,604		292,472
	Revenues and royalties payable		100,498		124,222
	Accrued interest expense		82,942		82,570
	Accrued employee compensation		3,171		2,272
	Accrued lease operating expenses		29,681		21,469
	Drilling advances from partners		21,220		24,882
	Affiliated partnership		762		679
	Other		360		362

		$	607,750	$	636,589

CONDENSED_CONSOLIDATING_FINANC

CONDENSED CONSOLIDATING FINANCIAL INFORMATION	12 Months Ended
CONDENSED CONSOLIDATING FINANCIAL INFORMATION	Dec. 31, 2014
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
CONDENSED CONSOLIDATING FINANCIAL INFORMATION	16. 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. See Note 6, "Long-Term Debt," for information regarding the Company's Senior Notes. On June 16, 2014, the Company contributed undeveloped acreage in Mississippi and Louisiana that management believes is prospective for the TMS into HK TMS. See Note 11, "Mezzanine Equity," for a discussion of the restrictions on the transfer of assets between the Company and HK TMS.
	The following condensed consolidating statements of operations, condensed consolidating balance sheets, 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 December 31, 2014. Investments in the subsidiaries are accounted for under the equity method. 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

			Year Ended December 31, 2014
			Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
			Company			Subsidiaries			Subsidiary			Eliminations			Consolidated
			(In thousands)
	Operating revenues:
	Oil, natural gas and natural gas liquids sales:
	Oil		$	—		$	1,055,460		$	15,859		$	—		$	1,071,319
	Natural gas			—			37,101			—			—			37,101
	Natural gas liquids			—			37,460			—			—			37,460

	Total oil, natural gas and natural			—			1,130,021			15,859			—			1,145,880
	gas liquids sales			—			1,130,021			15,859			—			1,145,880
	Other			—			2,381			—			—			2,381

	Total operating revenues			—			1,132,402			15,859			—			1,148,261

	Operating expenses:
	Production:
	Lease operating			—			129,510			729			—			130,239
	Workover and other			—			16,193			—			—			16,193
	Taxes other than income			634			105,372			325			—			106,331
	Gathering and other			—			26,719			—			—			26,719
	Restructuring			—			987			—			—			987
	General and administrative			72,168			43,611			4,850			(4,097	)		116,532
	Depletion, depreciation and accretion			2,646			520,705			20,130			(9,060	)		534,421
	Full cost ceiling impairment			—			95,359			139,599			4,710			239,668
	Other operating property and equipment impairment			—			35,558			—			—			35,558

	Total operating expenses			75,448			974,014			165,633			(8,447	)		1,206,648

	Income (loss) from operations			(75,448	)		158,388			(149,774	)		8,447			(58,387	)
	Other income (expenses):
	Net gain (loss) on derivative contracts			—			518,956			—			—			518,956
	Interest expense and other, net			(317,556	)		169,752			2,115			—			(145,689	)

	Total other income (expenses)			(317,556	)		688,708			2,115			—			373,267

	Income (loss) before income taxes			(393,004	)		847,096			(147,659	)		8,447			314,880
	Income tax benefit (provision)			—			(31,960	)		(1,417	)		34,453			1,076
	Equity in earnings of subsidiary, net of tax			695,784			(119,352	)		—			(576,432	)		—

	Net income (loss)			302,780			695,784			(149,076	)		(533,532	)		315,956
	Series A preferred dividends			(19,838	)		—			—			—			(19,838	)
	Preferred dividends and accretion on redeemable noncontrolling interest			—			—			(13,176	)		—			(13,176	)

	Net income (loss) available to common stockholders		$	282,942		$	695,784		$	(162,252	)	$	(533,532	)	$	282,942


	CONDENSED CONSOLIDATING BALANCE SHEETS

			December 31, 2014
			Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
			Company			Subsidiaries			Subsidiary			Eliminations			Consolidated
			(In thousands)
	Current assets:
	Cash		$	—		$	15		$	43,698		$	—		$	43,713
	Accounts receivable			—			262,543			14,858			(842	)		276,559
	Receivables from derivative contracts			—			352,530			—			—			352,530
	Restricted cash			—			—			16,131			—			16,131
Inventory			—			4,619			74			—			4,693
Prepaids and other			372			8,707			—			—			9,079

Total current assets			372			628,414			74,761			(842	)		702,705

Oil and natural gas properties (full cost method):
Evaluated			—			6,169,553			225,617			(4,350	)		6,390,820
Unevaluated			—			1,558,412			271,374			—			1,829,786

Gross oil and natural gas properties			—			7,727,965			496,991			(4,350	)		8,220,606
Less—accumulated depletion			—			(2,797,606	)		(159,782	)		4,350			(2,953,038	)

Net oil and natural gas properties			—			4,930,359			337,209			—			5,267,568

Other operating property and equipment:
Gas gathering and other operating assets			14,523			112,103			178			—			126,804
Less—accumulated depreciation			(6,522	)		(8,259	)		(17	)		—			(14,798	)

Net other operating property and equipment			8,001			103,844			161			—			112,006

Other noncurrent assets:
Receivables from derivative contracts			—			151,324			—			—			151,324
Debt issuance costs, net			55,904			—			—			—			55,904
Deferred income taxes			(54	)		136,880			—			—			136,826
Intercompany notes and accounts receivable			4,891,427			239,250			—			(5,130,677	)		—
Investment in subsidiary			803,786			274,553			—			(1,078,339	)		—
Equity in oil and natual gas partnership			—			4,309			—			—			4,309
Funds in escrow and other			515			684			2,634			—			3,833

Total assets		$	5,759,951		$	6,469,617		$	414,765		$	(6,209,858	)	$	6,434,475


Current liabilities:
Accounts payable and accrued liabilities		$	—		$	592,340		$	50,706		$	(35,296	)	$	607,750
Asset retirement obligations			—			106			—			—			106
Current portion of deferred income taxes			1,794			135,032			—			—			136,826

Total current liabilities			1,794			727,478			50,706			(35,296	)		744,682

Long-term debt			3,746,736			—			—			—			3,746,736
Other noncurrent liabilities:
Liabilities from derivative contracts			—			9,387			—			—			9,387
Asset retirement obligations			—			37,538			833			—			38,371
Intercompany notes and accounts payable			239,250			4,891,427			—			(5,130,677	)		—
Other			2			1			5,961			—			5,964
Commitments and contingencies
Mezzanine equity:
Redeemable noncontrolling interest			—			—			117,166			—			117,166
Stockholders' equity:
Preferred stock			—			—			—			—			—
Common stock			42			—			—			—			42
Additional paid-in capital			2,995,402			—			402,351			(402,351	)		2,995,402
Retained earnings (accumulated deficit)			(1,223,275	)		803,786			(162,252	)		(641,534	)		(1,223,275	)

Total stockholders' equity			1,772,169			803,786			240,099			(1,043,885	)		1,772,169

Total liabilities and stockholders' equity		$	5,759,951		$	6,469,617		$	414,765		$	(6,209,858	)	$	6,434,475


CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

		Year Ended December 31, 2014
		Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
		Company			Subsidiaries			Subsidiary			Eliminations			Consolidated
		(In thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities		$	(368,406	)	$	1,029,056		$	11,634		$	(4,350	)	$	667,934
Cash flows from investing activities:
Cash flows from investing activities:
Oil and natural gas capital expenditures			—			(1,404,492	)		(124,199	)		4,350			(1,524,341	)
Proceeds received from sales of oil and natural gas assets			—			450,407			33,777			—			484,184
Advance on carried interest			—			(62,500	)		(126,942	)		—			(189,442	)
Other operating property and equipment capital expenditures			(1,132	)		(41,863	)		(88	)		—			(43,083	)
Advances to subsidiary			(179,123	)		(154,138	)		—			333,261			—
Funds held in escrow and other			—			1,589			—			—			1,589

Net cash provided by (used in) investing activities			(180,255	)		(1,210,997	)		(217,452	)		337,611			(1,271,093	)

Cash flows from financing activities:
Proceeds from borrowings			2,276,000			—			—			—			2,276,000
Repayments of borrowings			(1,719,000	)		—			—			—			(1,719,000	)
Debt issuance costs			(819	)		—			—			—			(819	)
Series A preferred dividends			(4,960	)		—			—			—			(4,960	)
HK TMS, LLC preferred stock issued			—			—			110,051			—			110,051
HK TMS, LLC tranche rights			—			—			4,516			—			4,516
Preferred dividends on redeemable noncontrolling interest			—			—			(3,518	)		—			(3,518	)
Restricted cash			—			—			(16,131	)		—			(16,131	)
Proceeds from subsidiary			—			179,123			154,138			(333,261	)		—
Offering costs and other			(2,561	)		—			460			—			(2,101	)

Net cash provided by (used in) financing activities			548,660			179,123			249,516			(333,261	)		644,038

Net increase (decrease) in cash			(1	)		(2,818	)		43,698			—			40,879
Cash at beginning of period			1			2,833									2,834
Cash at beginning of period			1			2,833			—			—			2,834

Cash at end of period		$	—		$	15		$	43,698		$	—		$	43,713

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	12 Months Ended
SUBSEQUENT EVENT	Dec. 31, 2014
SUBSEQUENT EVENT.
SUBSEQUENT EVENT	17. SUBSEQUENT EVENT
	Amendment to the Senior Credit Agreement and Borrowing Base Confirmation
	On February 25, 2015, the Company entered into the Ninth Amendment to the Senior Credit Agreement (the Ninth Amendment). The Ninth Amendment provides 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 March 31, 2016. On February 25, 2015, the borrowing base under the Senior Credit Agreement was confirmed at $1.05 billion.

SUMMARY_OF_SIGNIFICANT_EVENTS_1

SUMMARY OF SIGNIFICANT EVENTS AND ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2014
SUMMARY OF SIGNIFICANT EVENTS AND ACCOUNTING POLICIES
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 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. The Company has evaluated events or transactions through the date of issuance of this report in conjunction with the preparation of these consolidated financial statements.

Use of Estimates	Use of Estimates
	The preparation of the Company's 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 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 accruals, capital and operating expense accruals, oil and natural gas reserves, depletion relating to oil and natural gas properties, asset retirement obligations, fair value estimates, beneficial conversion feature 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 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 significant allowances for doubtful accounts as of December 31, 2014 or 2013.

Oil and Natural Gas Properties	Oil and Natural Gas Properties
	The Company uses the full cost method of accounting for its investment in oil and natural gas properties as prescribed by the United States Securities and Exchange Commission (SEC). Accordingly, all costs incurred in the acquisition, exploration and development of proved and unproved oil and natural gas properties, including the costs of abandoned properties, dry holes, geophysical costs, and annual lease rentals are capitalized. All general and administrative corporate costs unrelated to drilling activities are expensed as incurred. Sales or other dispositions of oil and natural gas properties are accounted for as adjustments to capitalized costs, with no gain or loss recorded unless the ratio of cost to proved reserves would significantly change. Depletion of evaluated oil and natural gas properties is computed on the units of production method based on proved reserves. The net capitalized costs of evaluated oil and natural gas properties are subject to a full cost ceiling limitation in which the costs are not allowed to exceed their related estimated future net revenues discounted at 10%, net of tax considerations.
	Costs associated with unevaluated properties are excluded from the full cost pool until the Company has made a determination as to the existence of proved reserves. The Company reviews its unevaluated properties at the end of each quarter to determine whether the costs incurred should be transferred to the full cost pool and thereby subject to amortization. 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.

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 $83.1 million and $92.0 million as of December 31, 2014 and 2013, respectively, related to the construction of its gas gathering systems, after any amounts impaired.
	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 or the lesser of lease term; 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 equipment and other operating assets at each reporting period to determine whether events and circumstances warrant a revision to the remaining depreciation periods. For the year ended December 31, 2014, the Company recorded a non-cash impairment charge for gas gathering systems and other related operating assets of $35.6 million, net of $1.9 million of accumulated depreciation. The majority of the impairment represents approximately half of the Company's gas gathering infrastructure, right-of-way and permitting investments in the Utica / Point Pleasant area. These infrastructure related investments were related to acreage in certain non-core areas of the Utica play which the Company currently does not plan to develop in light of the recent downtrend in oil prices which has rendered certain areas to be deemed uneconomical and/or non-strategic. For the year ended December 31, 2013, the Company recorded a non-cash impairment charge for midstream assets of $67.5 million. The impairment relates to the Company's gross investment of $72.1 million in gas gathering infrastructure that will not be economically recoverable due to the Company's shift in exploration, drilling and developmental plans from the Woodbine to El Halcón during the third quarter of 2013. The impairments of midstream assets were recorded in "Other operating property and equipment impairment" in the Company's consolidated statements of operations and in "Gas gathering and other operating assets" in the Company's consolidated balance sheets.
	In accordance with ASC 820, Fair Value Measurements and Disclosures (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 estimate of the fair value of the Company's gas gathering systems was based on an income approach that estimated future cash flows associated with those assets, which resulted in negative net cash flows due to insufficient throughput of natural gas volumes and certain fixed costs necessary to operate and maintain the assets. This estimation includes the use of unobservable inputs, such as estimated future production, gathering and compression revenues and operating expenses. The use of these unobservable inputs results in the fair value estimate of the Company's gas gathering systems being classified as Level 3.

Revenue Recognition	Revenue Recognition
	Revenues from the sale of crude oil, natural gas, and natural gas liquids are recognized when the product is delivered at a fixed or determinable price, title has transferred, and collectability is reasonably assured and evidenced by a contract. The Company follows the entitlement method of accounting for crude oil and natural gas sales, recognizing as revenues only its net interest share of all production sold. Any amount attributable to the sale of production in excess of or less than the Company's net interest is recorded as a balancing asset or liability. At December 31, 2014 and 2013 the Company's imbalances were immaterial.

Concentrations of Credit Risk	Concentrations of Credit Risk
	The Company operates a substantial portion of its oil and natural gas properties. As the operator of a property, the Company makes full payments for costs associated with the property and seeks reimbursement from the other working interest owners in the property for their share of those costs. The Company's joint interest partners consist primarily of independent oil and natural gas producers. If the oil and natural gas exploration and production industry in general was adversely affected, the ability of the Company's joint interest partners to reimburse the Company could be adversely affected.
	The purchasers of the Company's oil and natural gas production consist primarily of independent marketers, major oil and natural gas companies and gas pipeline companies. Historically, the Company has not experienced any significant losses from uncollectible accounts. In 2014, three individual purchasers of the Company's production, Crestwood Midstream Partners, formerly Arrow Field Services LLC (Crestwood), Sunoco Partners Marketing & Terminals, L.P. (Sunoco) and Suncor Energy Marketing Inc. (Suncor), each accounted for more than 10% of its total sales, collectively representing 66% of the Company's total sales for the year. In 2013, four individual purchasers of the Company's production, Shell Trading US Co., Sunoco, Crestwood and Suncor Energy, each accounted for more than 10% of its total sales, collectively representing 63% of the Company's total sales for the year. In 2012, two individual purchasers of the Company's production, Shell Trading US Co. and Sunoco, each accounted for approximately 20% and 19%, respectively, of its total sales.

Risk Management Activities	Risk Management Activities
	The Company follows ASC 815, Derivatives and Hedging (ASC 815). From time to time, the Company may hedge a portion of its forecasted oil, natural gas, and natural gas liquids production. Derivative contracts entered into by the Company have consisted of transactions in which the Company hedges the variability of cash flow related to a forecasted transaction. The Company recognized all derivative instruments as either assets or liabilities in the consolidated balance sheets at fair value. The Company has elected to not designate any of its positions for hedge accounting. Accordingly, the Company records the net change in the mark-to-market valuation of these positions, as well as payments and receipts on settled contracts, in "Net gain (loss) on derivative contracts" on the consolidated statements of operations.

Income Taxes	Income Taxes
	The Company accounts for income taxes using the asset and liability method wherein deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.
	The Company follows ASC 740, Income Taxes (ASC 740). ASC 740 creates a single model to address accounting for the uncertainty in income tax positions and prescribes a minimum recognition threshold a tax position must meet before recognition in the consolidated financial statements.
	The evaluation of a tax position in accordance with ASC 740 is a two-step process. The first step is a recognition process to determine whether it is more likely than not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. In evaluating whether a tax position has met the more likely than not recognition threshold, it is presumed that the position will be examined by the appropriate taxing authority with full knowledge of all relevant information. The second step is a measurement process whereby a tax position that meets the more likely than not recognition threshold is calculated to determine the amount of benefit/expense to recognize in the consolidated financial statements. The tax position is measured at the largest amount of benefit/expense that is more likely than not of being realized upon ultimate settlement.
	The Company has no liability for unrecognized tax benefits as of December 31, 2014 and 2013. Accordingly, there is no amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate and there is no amount of interest or penalties currently recognized in the consolidated statements of operations or consolidated balance sheets as of December 31, 2014. In addition, the Company does not believe that there are any positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next twelve months.
	The Company includes interest and penalties relating to uncertain tax positions within "Interest expense and other, net" on the Company's consolidated statements of operations. Refer to Note 13, "Income Taxes," for more details.
	Generally, the Company's tax years 2011 through 2014 are either currently under audit or remain open and subject to examination by federal tax authorities or the tax authorities in Louisiana, Mississippi, Montana, North Dakota, Oklahoma, Texas, Pennsylvania, Utah, Wyoming and certain other small state taxing jurisdictions where the Company has its principal operations. In certain of these jurisdictions, the Company operates through more than one legal entity, each of which may have different open years subject to examination. Additionally, it is important to note that years are open for examination until the statute of limitations in each respective jurisdiction expires.
	Tax audits may be ongoing at any point in time. Tax liabilities are recorded based on estimates of additional taxes which may be due upon the conclusion of these audits. Estimates of these tax liabilities are made based upon prior experience and are updated for changes in facts and circumstances. However, due to the uncertain and complex application of tax regulations, it is possible that the ultimate resolution of audits may result in liabilities which could be materially different from these estimates.

Asset Retirement Obligations	Asset Retirement Obligations
	ASC 410, Asset Retirement and Environmental Obligations (ASC 410) requires that the fair value of an asset retirement cost, and corresponding liability, should be recorded as part of the cost of the related long-lived asset and subsequently allocated to expense using a systematic and rational method. The Company records asset retirement obligations to reflect the Company's legal obligations related to future plugging and abandonment of its oil and natural gas wells and gas gathering systems and equipment. The Company estimates the expected cash flows associated with the obligation and discounts the amounts using a credit-adjusted, risk-free interest rate. At least annually, the Company reassesses the obligation to determine whether a change in the estimated obligation is necessary. The Company evaluates whether there are indicators that suggest the estimated cash flows underlying the obligation have materially changed. Should these indicators suggest the estimated obligation may have materially changed on an interim basis (quarterly), the Company will accordingly update its assessment. Additional retirement obligations increase the liability associated with new oil and natural gas wells and gas gathering systems and equipment as these obligations are incurred.

Goodwill	Goodwill
	Goodwill represents the excess of the purchase price over the estimated fair value of the assets acquired net of the fair value of liabilities assumed in an acquisition. ASC 350, Intangibles—Goodwill and Other (ASC 350) requires that intangible assets with indefinite lives, including goodwill, be evaluated on an annual basis for impairment or more frequently if events occur or circumstances change that could potentially result in impairment. The goodwill impairment test requires the allocation of goodwill and all other assets and liabilities to reporting units. However, the Company has only one reporting unit. The Company carried goodwill as of December 31, 2012 related to its acquisition of GeoResources, Inc.. Refer to Note 4, "Acquisitions and Divestitures" for more details regarding the merger between the Company and GeoResources, Inc. The Company performs its goodwill impairment test annually, using a measurement date of July 1, or more often if circumstances require.
	The Company performed its annual goodwill impairment test during the third quarter of 2013, and based on this review, the Company recorded a non-cash impairment charge of $228.9 million to reduce the carrying value of goodwill to zero. The Company recorded the goodwill impairment in "Goodwill impairment" in the Company's consolidated statements of operations. In the first step of the goodwill impairment test, the Company determined that the fair value of its reporting unit was less than the carrying amount, including goodwill, primarily due to pricing deterioration in the NYMEX forward pricing curve coupled with less favorable oil price differentials in the Company's core areas, both factors which adversely impacted the fair value of the Company's proved reserves. Therefore, the Company performed the second step of the goodwill impairment test, which led the Company to conclude that there would be no remaining implied fair value attributable to goodwill.
	In estimating the fair value of its reporting unit, the Company used a combination of the income and market approaches. For purposes of estimating the fair value of the Company's oil and natural gas proved reserves, an income approach was used which 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. In estimating the fair value of the Company's unproved acreage, a market approach was used in which a review of recent transactions involving properties in the same geographical location indicated the fair value of the Company's unproved acreage from a market participant perspective.
	The estimation of the fair value of the Company's reporting unit includes the use of unobservable inputs, such as estimates of proved reserves, unproved acreage values, the weighted average cost of capital (discount rate), future pricing beyond a certain period and estimated future capital and operating costs. The use of these unobservable inputs results in the fair value estimate being classified as Level 3. Although the Company believes the assumptions and estimates used in the fair value calculation of its reporting unit 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 reporting unit and performing the goodwill impairment test are inherently uncertain and require management judgment.

401(k) Plan	401(k) Plan
	The Company sponsors a 401(k) tax deferred savings plan, whereby the Company matches a portion of employees' contributions in cash. Participation in the plan is voluntary and all employees of the Company who are 18 years of age are eligible to participate. The Company provided matching contributions of $4.5 million, $4.9 million, and $1.8 million in 2014, 2013, and 2012, respectively. As of January 1, 2013, the Company matches employee contributions dollar-for-dollar on the first 10% of an employee's pre-tax earnings, subject to individual IRS limitations.

Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements
	In November 2014, the FASB issued ASU No. 2014-16, "Derivatives and Hedging—Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity" (ASU 2014-16). ASU 2014-16 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and early adoption is permitted. Prior to ASU 2014-16, there were two primary methods used to evaluate whether the nature of a host contract is more akin to debt or equity. One method considers all the terms and features in a hybrid financial instrument including the embedded derivative feature that is being evaluated for bifurcation (whole instrument approach). The second method considers all the terms and features in the hybrid financial instrument except the embedded derivative feature that is being evaluated for bifurcation. ASU 2014-16 stipulates that issuers should use the whole instrument approach only. ASU 2014-16 applies to the transaction which HK TMS, LLC entered into with funds and accounts managed by affiliates of Apollo Global Management, LLC and the whole instrument approach was used in determining whether the host contract was more akin to debt or equity. See Note 11, "Mezzanine Equity" for a discussion of this transaction.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (ASU 2014-15). ASU 2014-15 is effective for annual reporting periods (including interim periods within those periods) ending after December 15, 2016. Early application is permitted. The amendments in ASU 2014-15 create a new ASC Sub-topic 205-40, Presentation of Financial Statements—Going Concern and require management to assess for each annual and interim reporting period if conditions exist that raise substantial doubt about an entity's ability to continue as a going concern. The rule requires various disclosures depending on the facts and circumstances surrounding an entity's ability to continue as a going concern. The Company is in the process of assessing the effects of the application of the new guidance.
	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.
	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.

RESTRUCTURING_Tables

RESTRUCTURING (Tables)	12 Months Ended
RESTRUCTURING (Tables)	Dec. 31, 2014
RESTRUCTURING
Schedule of reconciliation of restructuring reserve
		Severance Program
		(In thousands)
	Beginning balance, December 31, 2012	$	2,131
	Severance and Retention payments		(2,627	)
	Net increase in accrual		496

	Ending balance, December 31, 2013	$	—

ACQUISITIONS_AND_DIVESTITURES_

ACQUISITIONS AND DIVESTITURES (Tables)	12 Months Ended
ACQUISITIONS AND DIVESTITURES (Tables)	Dec. 31, 2014
ACQUISITIONS AND DIVESTITURES
Schedule of pro forma financial information
			Year ended
			December 31, 2012
			(Unaudited)
			(In thousands, except
			per share amounts)
	Revenue		$	608,092
	Net income (loss)			34,895
	Net income (loss) available to Halcón common stockholders			(53,550	)
	Pro forma net income (loss) per common share:
	Basic		$	(0.17	)
	Diluted		$	(0.17	)


Williston Basin Assets
ACQUISITIONS AND DIVESTITURES
Summary of the consideration paid for acquisition and the amounts of assets acquired and liabilities assumed	The following table summarizes the consideration paid to acquire the Williston Basin Assets, as well as the amounts of assets acquired and liabilities assumed as of the acquisition date (in thousands):

	Purchase Price(1):
	Halcón preferred shares issued to Williston Basin Assets Sellers(2)		$	695,238
	Cash consideration paid to Williston Basin Assets Sellers(3)			788,769

	Total purchase price		$	1,484,007


	Estimated Fair Value of Liabilities Assumed:
	Current liabiltites		$	7,211
	Asset retirement obligations			5,207

	Amount attributable to liabilities assumed			12,418

	Total purchase price plus liabilities assumed		$	1,496,425


	Estimated Fair Value of Assets Acquired:
	Current assets		$	4,264
	Evaluated oil and natural gas properties(4)(5)			630,431
	Unevaluated oil and natural gas properties			861,730

	Amount attributable to assets acquired		$	1,496,425

	Goodwill		$	—




	-1	Based on the terms of the reorganization and interest purchase agreement, consideration paid by Halcón consisted of $788.8 million in cash plus approximately 10,880 shares of convertible preferred stock. The total purchase price is based upon the fair value of the preferred shares which was determined using the lowest price of $6.39 per share of the Company's common stock on December 6, 2012, the number of convertible preferred shares issued and the conversion rate of each convertible preferred share to 10,000 shares of common stock. Cash consideration has been adjusted for customary post-closing items.
	-2	Represents the fair value of convertible preferred stock par value $0.0001 per share issued to sellers with each preferred share convertible into 10,000 shares of common stock. The preferred shares were presented on the December 31, 2012 balance sheet as mezzanine equity due to the fact that the conversion of the preferred shares to common shares was still contingent upon shareholder approval at the December 31, 2012 balance sheet date. See further discussion of the preferred shares at Note 12, "Stockholders' Equity".
	-3	Represents amount of cash consideration, adjusted for customary post-closing items, for the purchase of the Williston Basin Assets funded by the issuance of the $750 million 8.875% senior notes with net proceeds of $725.6 million and borrowings under the Senior Credit Agreement revolver. See discussion of 8.875% senior notes and Senior Credit Agreement at Note 6, "Long- term Debt".
	-4	The market assumptions as to future commodity prices, projections of estimated quantities of oil and natural gas reserves, expectations for timing and amount for future development and operating costs, projections of future rates of production, expected recovery rates and risk adjusted discount rates used by the Company to estimate the fair value of the oil and natural gas properties represent Level 3 inputs. For additional information on Level 3 inputs, see Note 7, "Fair Value Measurements".
	-5	Weighted average commodity prices utilized in the determination of the pro forma fair value of oil and natural gas properties were $95.17 per barrel of oil and $10.85 per Mcf of natural gas, after adjustment for transportation fees and regional price differentials. The pricing used in the determination of fair value reflects the differential applied to future prices; differentials for natural gas reflect relatively higher Btu gas content.


GeoResources
ACQUISITIONS AND DIVESTITURES
Summary of the consideration paid for acquisition and the amounts of assets acquired and liabilities assumed	The following table summarizes the consideration paid to acquire GeoResources and the estimated values of assets acquired and liabilities assumed in the accompanying audited consolidated balance sheets based on their fair values on August 1, 2012 (in thousands, except stock price):

	Purchase price(1):
	Shares of Halcón common stock issued to GeoResources' stockholders			50,378
	Shares of Halcón common stock issued to GeoResources' stock option holders			966

	Total Halcón common stock issued			51,344
	Halcón common stock price		$	6.26

	Fair value of common stock issued		$	321,416
	Cash consideration paid to GeoResources' stockholders(2)			521,526
	Cash consideration paid to GeoResources' stock option holders(2)			9,996
	Fair value of warrants assumed by Halcón(3)			1,474

	Total purchase price		$	854,412


	Estimated fair value of liabilities assumed:
	Current liabilities		$	112,412
	Deferred tax liability(4)			188,385
	Asset retirement obligations			28,064
	Other non-current liabilities			80,024

	Amount attributable to liabilities assumed		$	408,885

	Total purchase price plus liabilities assumed		$	1,263,297


	Estimated fair value of assets acquired:
	Current assets		$	108,067
	Evaluated oil and natural gas properties(5)(6)			458,564
	Unevaluated oil and natural gas properties			454,000
	Net other operating property and equipment			1,179
	Equity in oil and gas partnerships(7)			10,967
	Other non-current assets			1,645

	Amount attributable to assets acquired		$	1,034,422

	Goodwill(8)		$	228,875




	-1	Under the terms of the Merger Agreement, consideration paid by Halcón consisted of $20.00 in cash plus 1.932 shares of Halcón common stock for each share of GeoResources common stock. The total purchase price was based upon the price of Halcón common stock on the closing date of the transaction, August 1, 2012, and approximately 26.6 million shares of GeoResources common stock outstanding at the effective time of the Merger. The Company issued a total of 51.3 million shares of its common stock and paid $531.5 million in cash to former GeoResources stockholders in exchange for their shares of GeoResources common stock. Cash consideration was adjusted for customary post-closing items.
	-2	Components of cash flow for the Merger (in thousands):

	Total cash consideration for Merger and stock options(i)		$	531,522
	Retirement of GeoResources' long-term debt(ii)			80,328
	Cash acquired on date of Merger			(32,353	)

	Total cash outflows, net		$	579,497




	(i)		The majority of the cash consideration was funded by the net proceeds from the issuance of the 9.75% senior notes.
	(ii)		Includes accrued interest and fees.
	-3	The $1.5 million fair value of the assumed warrants was calculated using a Black-Scholes valuation model with assumptions for the following variables: price of Halcón stock on the closing date of the merger; risk-free interest rates; and expected volatility. The assumed warrants were classified as liabilities as of December 31, 2012 as the warrant holders can receive cash. The assumed warrants were classified as current liabilities at December 31, 2012 because all the warrants expired in 2013.
	-4	Halcón received carryover tax basis in GeoResources' assets and liabilities because the Merger was not a taxable transaction under the United States Internal Revenue Code of 1986, as amended. Based upon the purchase price allocation, a step-up in financial reporting carrying value related to the property acquired from GeoResources resulted in a Halcón deferred tax liability of approximately $188.4 million, an increase of approximately $127.0 million to GeoResources' existing $61.4 million deferred tax liability.
	-5	Weighted average commodity prices utilized in the determination of the fair value of oil and natural gas properties were $6.65 per Mcf of natural gas, $35.66 per barrel of oil equivalent for natural gas liquids and $98.37 per barrel of oil, after adjustment for transportation fees and regional price differentials.
	-6	The market assumptions as to future commodity prices, projections of estimated quantities of oil and natural gas reserves, expectations for timing and amount for future development and operating costs, projections of future rates of production, expected recovery rates and risk adjusted discount rates used by the Company to estimate the fair value of the oil and natural gas properties represent Level 3 inputs. For additional information on Level 3 inputs, see Note 7, "Fair Value Measurements".
	-7	As a part of the Merger, the Company acquired investments, in the form of general partnership interests, in two affiliated partnerships, SBE Partners LP (SBE Partners) and OKLA Energy Partners LP (OKLA Energy). These partnerships hold direct working interests in oil and natural gas properties. The Company's investment in an unconsolidated entity in which the Company does not have a majority interest or control, but does have significant influence, is accounted for under the equity method. The Company held a 2% general partner interest, in OKLA Energy, which reverted to 35.66% interest when the limited partner realized a contractually specified rate of return. On July 25, 2013, the Company sold its general partner interest in OKLA Energy to a private buyer. The Company holds a 30% general partner interest in SBE Partners. Under the equity method of accounting the Company records its net share of income and expenses in "Interest expense and other, net" on the consolidated statements of operations. Contributions to the investment increase the Company's investment while distributions from the investment decrease the Company's carrying value of the investment in "Equity in oil and gas partnership" on the consolidated balance sheets. The Company reviews its equity method investment for potential impairment whenever events or changes in circumstances indicate that an other-than-temporary decline in the value of the investment has occurred.
	-8	Goodwill was determined as the excess consideration transferred over the fair value of the GeoResources net assets acquired on August 1, 2012. Goodwill recognized will not be deductible for tax purposes. The Company performs its goodwill impairment test annually, using a measurement date of July 1, or more often if circumstances require. Refer to Note 1, "Summary of Significant Events and Accounting Policies," for additional discussion of the Company's goodwill impairment test and the Company's impairment of its goodwill balance during 2013.


Schedule of the components of cash flow for merger
	Components of cash flow for the Merger (in thousands):

	Total cash consideration for Merger and stock options(i)		$	531,522
	Retirement of GeoResources' long-term debt(ii)			80,328
	Cash acquired on date of Merger			(32,353	)

	Total cash outflows, net		$	579,497




	(i)	The majority of the cash consideration was funded by the net proceeds from the issuance of the 9.75% senior notes.
	(ii)	Includes accrued interest and fees.


East Texas Assets
ACQUISITIONS AND DIVESTITURES
Summary of the consideration paid for acquisition and the amounts of assets acquired and liabilities assumed	The following table summarizes the consideration paid to acquire the properties and the amounts of the assets acquired and liabilities assumed as of the acquisition date (in thousands, except stock prices):

	Purchase price(1):
	Shares of Halcón common stock issued on August 1, 2012			16,460
	Shares of Halcón common stock issued on August 2, 2012			4,310

	Total Halcón common stock issued			20,770
	Halcón common stock price on August 1, 2012		$	6.26
	Halcón common stock price on August 2, 2012		$	6.40

	Fair value of Halcón common stock issued		$	130,623
	Cash consideration paid to sellers of East Texas Assets			296,139

	Total purchase price		$	426,762


	Estimated fair value of liabilities assumed:
	Current liabilities		$	192
	Asset retirement obligations			337

	Amount attributable to liabilities assumed		$	529

	Total purchase price plus liabilities assumed		$	427,291


	Estimated fair value of assets acquired:
	Evaluated oil and natural gas properties(2)(3)		$	337,303
	Unevaluated oil and natural gas properties			89,988

	Amount attributable to assets acquired		$	427,291

	Goodwill		$	—




	-1	Based on the terms of the purchase and sale agreements relating to the East Texas Assets, consideration paid by Halcón at closing consisted of $296.1 million in cash plus 20.8 million shares of Halcón common stock. The total purchase price is based upon the price on August 1, 2012 of $6.26 per share of Halcón's common stock for CH4 Energy II, LLC, PetroMax Leon, LLC and Petro Texas, LLC (Initial Sellers) and price on August 2, 2012 of $6.40 per share of Halcón's common stock for King King LLC. Cash consideration has been adjusted for customary post-closing items. The East Texas Acquisition was partially financed with the net proceeds from the issuance of $750.0 million of 9.75% senior notes and cash on hand. See Note 6, "Long-Term Debt" for discussion of the accounting treatment of the 9.75% senior notes.
	-2	The market assumptions as to future commodity prices, projections of estimated quantities of oil and natural gas reserves, expectations for timing and amount for future development and operating costs, projections of future rates of production, expected recovery rates and risk adjusted discount rates used by the Company to estimate the fair value of the oil and natural gas properties represent Level 3 inputs. For additional information on Level 3 inputs, see Note 7, "Fair Value Measurements".
	-3	Weighted average commodity prices utilized in the determination of the fair value of oil and natural gas properties were $6.26 per Mcf of natural gas, $49.68 per Boe for natural gas liquids and $98.35 per barrel of oil, after adjustment for transportation fees and regional price differentials.

OIL_AND_NATURAL_GAS_PROPERTIES1

OIL AND NATURAL GAS PROPERTIES (Tables)	12 Months Ended
OIL AND NATURAL GAS PROPERTIES (Tables)	Dec. 31, 2014
OIL AND NATURAL GAS PROPERTIES
Schedule of oil and natural gas properties
			December 31,
			2014			2013
			(In thousands)
	Subject to depletion		$	6,390,820		$	4,960,467

	Not subject to depletion:
	Exploration and extension wells in progress			73,684			109,279
	Other capital costs:
	Incurred in 2014			415,807			—
	Incurred in 2013			510,308			750,960
	Incurred in 2012			829,987			1,167,805
	Incurred in 2011 and prior			—			—

	Total not subject to depletion			1,829,786			2,028,044

	Gross oil and natural gas properties			8,220,606			6,988,511
	Less accumulated depletion			(2,953,038	)		(2,189,515	)

	Net oil and natural gas properties		$	5,267,568		$	4,798,996




Schedule of the Company's Oil and Natural Gas prices used in the calculation of the ceiling test value of the Company's reserves
			West Texas			Henry Hub
			Intermediate			(per MMBtu)*(1)*
			(per barrel)*(1)*
	December 31, 2014		$	94.99		$	4.350
	December 31, 2013			96.94			3.670
	December 31, 2012			94.71			2.757


	-1	Unweighted average of the first day of the 12-months ended spot price, adjusted by lease or field for quality, transportation fees and market differentials.

LONGTERM_DEBT_Tables

LONG-TERM DEBT (Tables)	12 Months Ended
LONG-TERM DEBT (Tables)	Dec. 31, 2014
LONG-TERM DEBT.
Schedule of long-term debt
			December 31,
			2014			2013(1)
			(In thousands)
	Senior revolving credit facility		$	557,000		$	—
	9.25% $400 million senior notes			400,000			400,000
	8.875% $1.35 billion senior notes(2)			1,370,032			1,372,355
	9.75% $1.15 billion senior notes(3)			1,151,821			1,152,099
	8.0% $289.7 million convertible note(4)			267,883			259,369

			$	3,746,736		$	3,183,823




	-1	Table excludes $1.4 million of deferred premiums on derivative contracts which were classified as current at December 31, 2013.
	-2	Amount is net of a $4.6 million and a $5.1 million unamortized discount at December 31, 2014 and 2013, respectively, related to the issuance of the original 2021 Notes. The unamortized premium related to the additional 2021 Notes was approximately $24.6 million and $27.5 million at December 31, 2014 and 2013, respectively. See "8.875% Senior Notes" below for more details.
	-3	Amounts are net of a $7.9 million and an $8.9 million unamortized discount at December 31, 2014 and 2013, respectively, related to the issuance of the original 2020 Notes. The unamortized premium related to the additional 2020 Notes was approximately $9.7 million and $11.0 million at December 31, 2014 and 2013, respectively. See "9.75% Senior Notes" below for more details.
	-4	Amounts are net of a $21.8 million and a $30.3 million unamortized discount at December 31, 2014 and 2013, respectively. See "8.0% Convertible Note" below for more details.


Schedule of aggregate maturities required on long-term debt	Aggregate maturities required on long-term debt at December 31, 2014 are due in future years as follows (in thousands, excluding discounts, premiums and deferred premiums on derivative contracts):

	2015		$	—
	2016			—
	2017			846,669
	2018			—
	2019			—
	Thereafter			2,900,000

	Total		$	3,746,669




9.25% Senior Notes
Long-term debt
Schedule of percentages of principal amount at which notes may be redeemed, by applicable redemption dates	On or after August 15, 2017, the Company may redeem all or a part of the 2022 Notes at any time or from time to time at the redemption prices (expressed as percentages of the principal amount) set forth in the following table plus accrued and unpaid interest, if any, to the applicable redemption date, if redeemed during the 12-month period beginning August 15, of the years indicated:

	Year		Percentage
	2017			104.625	%
	2018			102.313	%
	2019 and thereafter			100.000	%


8.875% Senior Notes
Long-term debt
Schedule of percentages of principal amount at which notes may be redeemed, by applicable redemption dates	On or after November 15, 2016, the Company may redeem some or all of the 2021 Notes at any time or from time to time at the redemption prices (expressed as percentages of the principal amount) set forth in the following table plus accrued and unpaid interest, if any, to the applicable redemption date, if redeemed during the 12-month period beginning November 15 of the years indicated below:

	Year		Percentage
	2016			104.438	%
	2017			102.219	%
	2018 and thereafter			100.000	%


9.75% Senior Notes
Long-term debt
Schedule of percentages of principal amount at which notes may be redeemed, by applicable redemption dates	On or after July 15, 2016, the Company may redeem some or all of the 2020 Notes at any time or from time to time at the redemption prices (expressed as percentages of the principal amount) set forth in the following table plus accrued and unpaid interest, if any, to the applicable redemption date, if redeemed during the 12-month period beginning July 15 of the years indicated below:

	Year		Percentage
	2016			104.875	%
	2017			102.438	%
	2018 and thereafter			100.000	%

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Dec. 31, 2014
FAIR VALUE MEASUREMENTS
Schedule of fair value of the Company's financial assets and liabilities
		December 31, 2014
		Level 1			Level 2			Level 3		Total
		(In thousands)
	Assets
	Receivables from derivative contracts	$	—		$	503,854		$	—	$	503,854


	Liabilities
	Liabilities from derivative contracts	$	—		$	8,068		$	1,319	$	9,387




		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)
		December 31,
		2014			2013
	Beginning Balance	$	(2,816	)	$	—
	Net gain (loss) on derivative contracts		1,497			(2,816	)
	Settlements		—			—
	Purchase of derivative contracts		—			—
	Buy out of derivative contracts		—			—

	Ending Balance	$	(1,319	)	$	(2,816	)


	Change in unrealized gains (losses) included in earnings related to derivatives still held as of December 31, 2014 and 2013	$	1,497		$	(2,816	)




Schedule of the estimated fair values of the Company's fixed interest rate, long-term debt instruments	The following table presents the estimated fair values of the Company's fixed interest rate, long-term debt instruments as of December 31, 2014 and 2013 (excluding discounts, premiums and deferred premiums on derivative contracts.):

		December 31, 2014						December 31, 2013
	Debt	Carrying			Estimated			Carrying		Estimated
	Debt	Amount			Fair Value			Amount		Fair Value
		(In thousands)
	9.25% $400 million senior notes	$	400,000		$	300,000		$	400,000	$	407,432
	8.875% $1.35 billion senior notes		1,350,000			1,005,750			1,350,000		1,390,500
	9.75% $1.15 billion senior notes		1,150,000			872,862			1,150,000		1,197,438
	8.0% $289.7 million convertible note		289,669			260,643			289,669		368,418

		$	3,189,669		$	2,439,255		$	3,189,669	$	3,363,788

DERIVATIVE_AND_HEDGING_ACTIVIT1

DERIVATIVE AND HEDGING ACTIVITIES (Tables)	12 Months Ended
DERIVATIVE AND HEDGING ACTIVITIES (Tables)	Dec. 31, 2014
DERIVATIVE AND HEDGING ACTIVITIES
Summary of location and fair value of derivative contracts
					Asset derivative								Liability
					contracts								derivative
													contracts
					December 31,								December 31,
			Balance sheet location		December 31,								December 31,
	Derivatives not designated as				2014			2013			Balance sheet location		2014			2013
	hedging contracts under ASC 815				2014			2013			Balance sheet location		2014			2013
					(In thousands)								(In thousands)
	Commodity contracts		Current assets—receivables from derivative contracts		$	352,530		$	2,028		Current liabilities—liabilities from derivative contracts		$	—		$	(17,859	)
	Commodity contracts		Other noncurrent assets—receivables from derivative contracts			151,324			22,734		Other noncurrent liabilities—liabilities from derivative contracts			(9,387	)		(19,333	)

	Total derivatives not designated as hedging contracts under ASC 815				$	503,854		$	24,762				$	(9,387	)	$	(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 (loss)
					recognized in income on
					derivative contracts for the
			Location of gain or (loss) recognized in		year ended December 31,
	Derivatives not designated as hedging contracts		income on derivative contracts		2014			2013			2012
	under ASC 815				2014			2013			2012
					(In thousands)
	Commodity contracts:
	Unrealized gain (loss) on commodity contracts		Other income (expenses)—net gain (loss) on derivative contracts		$	506,526		$	(10,150	)	$	(13,723	)
	Realized gain (loss) on commodity contracts		Other income (expenses)—net gain (loss) on derivative contracts			12,430			(21,083	)		7,655

	Total net gain (loss) on commodity				$	518,956		$	(31,233	)	$	(6,068	)
	contracts				$	518,956		$	(31,233	)	$	(6,068	)

	Interest rate swaps:
	Unrealized gain (loss) on interest rate swaps		Other income (expenses)—net gain (loss) on derivative contracts		$	—		$	—		$	518
	Realized gain (loss) on interest rate swaps		Other income (expenses)—net gain (loss) on derivative contracts			—			—			(576	)

	Total net gain (loss) on interest rate swaps				$	—		$	—		$	(58	)

	Total net gain (loss) on derivative contracts		Other income (expenses)—net gain (loss) on derivative contracts		$	518,956		$	(31,233	)	$	(6,126	)




Schedule of open derivative contracts
								December 31, 2014
											Floors						Ceilings
	Period		Instrument		Commodity			Volume in			Price /			Weighted			Price /			Weighted
								Mmbtu's/			Price Range			Average			Price Range			Average
								Bbl's						Price						Price
	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			6,205,000			82.50 - 90.00			86.47			90.00 - 100.25			94.39
	January 2015 - December 2015		Collars			Natural Gas			6,387,500			4			4.00			4.55 - 4.85			4.68
	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			87.50			92.5			92.50
	April 2015 - December 2015		Collars			Crude Oil			412,500			87.5			87.50			92.5			92.50
	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			90.00			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			4.00			4.22			4.22
	January 2016 - December 2016(3)		Swaps			Crude Oil			4,026,000			88.00 - 91.73			89.65


	-1	Includes an outstanding crude oil collar which may be extended by the counterparty at the end of the contract 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 of 366,000 Bbls which may be extended by the counterparty at the end of the contract at a floor of $85.00 per Bbl and a ceiling of $96.00 per Bbl for the year ended December 31, 2016.
	-2	Includes an outstanding crude oil swap which may be extended by the counterparty at the end of the contract 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 by the counterparty at the end of the contract 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 by the counterparty at the end of the contract 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 by the counterparty at the end of the contract 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 by the counterparty at the end of the contract 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 Sold
	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		$95.00		$	95.00		$	98.60 - 109.50		$	100.03		$	70.00	$	70.00
	January 2014 - June 2014		Collars		Crude Oil			724,000		90			90.00			96.50 - 99.50			98.00
	January 2014 - December 2014		Collars		Natural Gas			11,862,500		3.75 - 4.00			3.85			4.26 - 4.55			4.35
	January 2014 - December 2014		Collars		Crude Oil			7,573,750		85.00 - 95.00			88.67			93.60 - 108.45			96.22
	April 2014 - June 2014		Three-Way Collars		Crude Oil			136,500		95			95.00			98.20 - 101.00			99.13			70.00		70.00
	July 2014 - December 2014		Collars		Crude Oil			920,000		87.50 - 90.00			89.50			92.50 - 100.25			97.87
	July 2014 - December 2014		Collars		Natural Gas			920,000		4			4.00			4.42			4.42
	July 2014 - December 2014		Put		Crude Oil			184,000														90.00		90.00
	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			4.00			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			88.30


	-1	Includes an outstanding crude oil collar of 730,000 Bbls which may be extended by the counterparty at the end of the contract at a floor of $85.00 per Bbl and a ceiling of $96.20 per Bbl for the year ended December 31, 2016. Also includes an outstanding crude oil collar of 365,000 Bbls which may be extended by the counterparty at the end of the contract at a floor of $85.00 per Bbl and a ceiling of $96.00 per Bbl for the year ended December 31, 2016.
	-2	Includes an outstanding crude oil swap of 730,000 Bbls which may be extended by the counterparty at the end of the contract at a price of $91.25 per Bbl for the year ended December 31, 2016. Also includes certain outstanding crude oil swaps totaling 365,000 Bbls which may be extended by the counterparty at the end of the contract at a price of $91.00 per Bbl for the year ended December 31, 2016.
	-3	Includes an outstanding crude oil swap of 730,000 Bbls which may be extended by the counterparty at the end of the contract at a price of $88.25 per Bbl for the year ended December 31, 2017. Also includes certain outstanding crude oil swaps totaling 912,500 Bbls which may be extended by the counterparty at the end of the contract at a price of $88.00 per Bbl for the year ended December 31, 2017. Includes an outstanding crude oil swap of 547,500 Bbls which may be extended by the counterparty at the end of the contract at a price of $88.87 per Bbl 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
			December 31,						December 31,
	Offsetting of Derivative Assets and Liabilities		2014			2013			2014			2013
			(In thousands)
	Gross amounts presented in the consolidated balance sheet		$	503,854		$	24,762		$	(9,387	)	$	(37,192	)
	Amounts not offset in the consolidated balance sheet			(9,655	)		(20,036	)		9,387			19,507

	Net amount		$	494,199		$	4,726		$	—		$	(17,685	)

ASSET_RETIREMENT_OBLIGATIONS_T

ASSET RETIREMENT OBLIGATIONS (Tables)	12 Months Ended
ASSET RETIREMENT OBLIGATIONS (Tables)	Dec. 31, 2014
ASSET RETIREMENT OBLIGATIONS
Schedule of activity related to ARO liability	The Company recorded the following activity related to its ARO liability for the years ended December 31, 2014 and 2013 (in thousands, inclusive of the current portion):

	Liability for asset retirement obligation as of December 31, 2012		$	75,132
	Liabilities settled and divested(1)			(55,905	)
	Additions			11,730
	Acquisitions			4,236
	Accretion expense			3,596
	Revisions in estimated cash flows			468

	Liability for asset retirement obligation as of December 31, 2013		$	39,257
	Liabilities settled and divested(1)			(9,367	)
	Additions			4,171
	Acquisitions			181
	Accretion expense			1,822
	Revisions in estimated cash flows			2,413

	Liability for asset retirement obligation as of December 31, 2014		$	38,477




	-1	See Note 4, "Acquisitions and Divestitures" for additional information on the Company's divestiture activities.

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Dec. 31, 2014
Contractual Obligation
Schedule of approximate future minimum lease payments for subsequent annual periods for all non-cancelable operating leases	Approximate future minimum lease payments for subsequent annual periods for all non-cancelable operating leases as of December 31, 2014 are as follows (in thousands):

	2015	$	8,959
	2016		8,875
	2017		9,053
	2018		9,291
	2019		9,020
	Thereafter		14,795

	Total	$	59,993




Schedule of other contractual commitments for, among other things, pipeline and well equipment and infrastructure related expenditures	The Company has various other contractual commitments for, among other things, pipeline and well equipment, seismic, and infrastructure related expenditures as follows (in thousands):

	2015	$	10,518
	2016		—
	2017		—
	2018		—
	2019		—
	Thereafter		—

	Total	$	10,518




Drilling rig commitments
Contractual Obligation
Schedule of the entity's obligation under contracts	As of December 31, 2014, the Company has drilling rig commitments as follows (in thousands):

	2015	$	31,400
	2016		26,453
	2017		14,243
	2018		3,360
	2019		—
	Thereafter		—

	Total	$	75,456

MEZZANINE_EQUITY_Tables

MEZZANINE EQUITY (Tables)	12 Months Ended
MEZZANINE EQUITY (Tables)	Dec. 31, 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
	Embedded derivative		857

	Total initial investment proceeds	$	150,000




Reconciliation of financial assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3)	The following table sets forth a reconciliation of the changes in fair value of the Tranche Rights and embedded derivative classified as Level 3 in the fair value hierarchy (in thousands):

		Tranche			Embedded
		rights			derivative
	Balances at June 30, 2014	$	4,516		$	857
	Change in fair value		(7,150	)		5,106

	Balances at December 31, 2014	$	(2,634	)	$	5,963




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 year ended December 31, 2014 (in thousands, except 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		—			(2,543	)
	Dividends paid in-kind		3,025			3,025
	Accretion of redeemable noncontrolling interest		—			6,633

	Balances at December 31, 2014		153,025		$	117,166

STOCKHOLDERS_EQUITY_Tables

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
STOCKHOLDERS' EQUITY (Tables)	Dec. 31, 2014
STOCKHOLDERS' EQUITY
Schedule of the PSU transactions outstanding
			Number			Weighted Average		Aggregate
			of Shares			Grant Date		Intrinsic
						Fair Value		Value(1)
						Per Share		(In thousands)
	Unvested outstanding shares at December 31, 2013			—		$	—	$	—
	Granted			1,604,140			3.08
	Vested			—			—
	Forfeited			—			—

	Unvested outstanding shares at December 31, 2014			1,604,140		$	3.08	$	—




	-1	The intrinsic value of PSUs was calculated as the closing market price on December 31, 2014 of the underlying stock multiplied by the number of PSUs that would be convertible. There are no vested PSUs as of December 31, 2014.


Schedule of assumptions used in calculating fair value of the PSU
			Year Ended
			December 31, 2014
	Weighted average value per option granted during the period		$
	Weighted average value per option granted during the period		3.08
	Assumptions:
	Stock price volatility(1)		48.00%
	Risk free rate of return		0.68%
	Expected term		3 years


	-1	Due to the Company's limited historical data, expected volatility was estimated using volatilities of similar entities whose share or options prices and assumptions are publicly available.


Schedule of the stock option transactions
			Number			Weighted Average		Aggregate		Weighted Average
						Exercise Price		Intrinsic		Remaining
						Per Share		Value(1)		Contractual
								(In thousands)		Life (Years)
	Outstanding at December 31, 2011			—		$	—	$	—		—
	Granted			4,847,333			7.24
	Exercised			—			—
	Forfeited			(35,500	)		9.35

	Outstanding at December 31, 2012			4,811,833		$	7.22	$	2,944		9.7
	Granted			6,171,000			7.07
	Exercised			—			—
	Forfeited			(566,588	)		6.8

	Outstanding at December 31, 2013			10,416,245		$	7.15	$	—		9
	Granted			9,683,822			2.94
	Exercised			—			—
	Forfeited			(1,176,357	)		6.21

	Outstanding at December 31, 2014			18,923,710		$	5.05	$	724		8.7




	-1	The intrinsic value of a stock option is the amount by which the current market value of the underlying stock exceeds the exercise price of the option. No stock options were exercised during the years ended December 31, 2014, 2013 and 2012.


Schedule of outstanding options by exercise price range	Options outstanding at December 31, 2014 consisted of the following:

	Outstanding									Exercisable(1)
	Range of Grant		Number			Weighted Average		Weighted Average		Number		Weighted Average		Aggregate		Weighted Average
	Prices Per Share					Exercise Price		Remaining				Exercise Price		Intrinsic		Remaining
						per Share		Contractual Live				per Share		Value		Contractual Live
								(Years)								(Years)
	$1.57			3,448,100		$	1.57		9.9		—	$	—	$	—		—
	$3.04 - $3.67			5,799,767			3.67		9.2		—		—		—		—
	$3.96 - $5.48			1,711,708			5.43		7.9		—		—		—		—
	$5.51 - $7.09			1,385,002			6.60		7.9		—		—		—		—
	$7.10			4,850,267			7.10		8.2		—		—		—		—
	$7.16 - $11.55			1,728,866			9.31		7.5		—		—		—		—


	-1	At December 31, 2014, none of the Company's options were exercisable due to service performance conditions or option exercise prices below the current market value of the underlying stock as of December 31, 2014.


Schedule of assumptions used in calculating fair value of the Company's stock-based compensation	The assumptions used in calculating the Black-Scholes-Merton valuation model fair value of the Company's stock options for the years ended December 31, 2014, 2013 and 2012 are disclosed in the following table:

			Years Ended December 31,
			2014		2013		2012
	Weighted average value per option granted during the period		$		$		$
	Weighted average value per option granted during the period		1.36		2.65		3.40
	Assumptions:
	Stock price volatility(1)		51.48%		57.31%		61.84%
	Risk free rate of return		1.56%		0.89%		0.54%
	Expected term		5 years		5 years		4 years


	-1	Due to the Company's limited historical data, expected volatility was estimated using volatilities of similar entities whose share or options prices and assumptions are publicly available.


Schedule of the restricted stock transactions
			Number of			Weighted Average		Aggregate
			Shares			Grant Date Fair		Intrinsic
						Value Per Share		Value(1)
								(In thousands)
	Unvested outstanding shares at December 31, 2011			837,487		$	5.92	$	7,864
	Granted			312,900			8.91
	Vested			(334,838	)		5.44
	Accelerated vesting(2)			(547,649	)		7.43
	Forfeited			—			—

	Unvested outstanding shares at December 31, 2012			267,900		$	8.72	$	1,854
	Granted			3,266,450			6.9
	Vested			(543,563	)		6.43
	Accelerated vesting(3)			(142,610	)		7.1
	Forfeited			(204,783	)		6.96

	Unvested outstanding shares at December 31, 2013			2,643,394		$	7.16	$	10,204
	Granted			9,388,028			2.52
	Vested			(1,231,475	)		6.81
	Forfeited			(455,488	)		4.61

	Unvested outstanding shares at December 31, 2014			10,344,459		$	3.11	$	18,413




	-1	The intrinsic value of restricted stock was calculated as the closing market price on December 31, 2014, 2013, and 2012 of the underlying stock multiplied by the number of restricted shares. The total fair value of shares vested were $5.1 million, $3.5 million and $9.2 million for the years ended 2014, 2013, and 2012, respectively.
	-2	Represents accelerated vesting of all unvested employee restricted stock shares outstanding at the time of the change in control in the Company resulting from the Recapitalization.
	-3	Represents accelerated vesting of unvested employee restricted stock at the time of severance in conjunction with the Company's divestiture of non-core assets.


Summary of the status of the non-vested SARs	A summary of the non-vested SARs as of December 31, 2011, and changes during the year ended December 31, 2012, is presented below:

			Number			Weighted Average
						Grant Date
						Fair Value
	Non-vested at December 31, 2011			418,333		$	5.19
	Granted			—			—
	Vested			(84,418	)		5.19
	Accelerated vesting(1)			(333,915	)		5.19
	Forfeited			—			—

	Non-vested at December 31, 2012			—		$	—




	-1	Represents accelerated vesting of all unvested employee SARs outstanding at the time of the change in control in the Company resulting from the Recapitalization.

INCOME_TAXES_Tables

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2014
INCOME TAXES
Schedule of income tax benefit (provision)
			Years Ended December 31,
			2014			2013			2012
			(In thousands)
	Current:
	Federal		$	1,295		$	(1,523	)	$	—
	State			(219	)		—			121

				1,076			(1,523	)		121

	Deferred:
	Federal			2,653			145,098			12,265
	State			(2,653	)		14,141			795

				—			159,239			13,060

	Total income tax benefit (provision)		$	1,076		$	157,716		$	13,181




Schedule of differences between the actual income tax benefit (provision) and the expected income tax benefit (provision)
			Years Ended December 31,
			2014			2013			2012
			(In thousands)
	Expected tax benefit (provision)		$	(110,208	)	$	483,132		$	23,485
	State income tax expense, net of federal benefit(1)			(4,615	)		15,904			455
	Goodwill impairment			—			(80,106	)		—
	Merger costs			—			—			(3,580	)
	Debt related costs			(5,467	)		(2,465	)		(3,239	)
	Increase (reduction) in deferred tax asset			19,233			4,616			(3,218	)
	Change in valuation allowance and related items			102,068			(262,847	)		—
	Other			65			(518	)		(722	)

	Total income tax benefit (provision)		$	1,076		$	157,716		$	13,181




	-1	Included in this amount for the year ended December 31, 2013, is approximately $4.4 million related to the goodwill impairment.


Schedule of components of net deferred income tax assets and (liabilities)
			December 31,
			2014			2013
			(In thousands)
	Deferred current income tax assets:
	Unrealized hedging transactions		$	—		$	6,028
	Other			245			551

	Gross deferred current income tax assets			245			6,579
	Valuation allowance			(57	)		(2,953	)

	Deferred current income tax assets		$	188		$	3,626


	Deferred current income tax liabilities:
	Unrealized hedging transactions		$	(132,939	)	$	—
	Change in accounting method(1)			(4,075	)		(12,100	)

	Deferred current income tax liabilities		$	(137,014	)	$	(12,100	)


	Net current deferred income tax assets (liabilities)		$	(136,826	)	$	(8,474	)


	Deferred noncurrent income tax assets:
	Net operating loss carry-forwards		$	601,566		$	551,567
	Share-based compensation expense			15,035			8,628
	Asset retirement obligations			14,089			14,454
	Investment in unconsolidated entities			62,340			—
	Other			9,591			9,439

	Gross deferred noncurrent income tax assets			702,621			584,088
	Valuation allowance			(163,007	)		(262,179	)

	Deferred noncurrent income tax assets		$	539,614		$	321,909


	Deferred noncurrent income tax liabilities:
	Book-tax differences in property basis		$	(345,189	)	$	(286,155	)
	Change in accounting method(1)			(4,075	)		(24,201	)
	Unrealized hedging transactions			(53,524	)		(1,326	)
	Investment in unconsolidated entities			—			(1,753	)

	Deferred noncurrent income tax liabilities		$	(402,788	)	$	(313,435	)


	Net noncurrent deferred income tax assets (liabilities)		$	136,826		$	8,474




	-1	In December 2013 the Company filed Form 3115, Application for Change in Accounting Method, related to certain property, plant and equipment expenditures and the tax impacts of the filing are reflected in the amounts above.

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	12 Months Ended
EARNINGS PER SHARE (Tables)	Dec. 31, 2014
EARNINGS PER COMMON SHARE
Schedule of calculation of earnings (loss) per share
			Years Ended December 31,
			2014		2013			2012
			(In thousands, except per share amounts)
	Basic:
	Net income (loss) available to common stockholders		$	282,942	$	(1,233,407	)	$	(142,330	)


	Weighted average basic number of common shares outstanding			415,772		379,621			156,494

	Basic net income (loss) per common share		$	0.68	$	(3.25	)	$	(0.91	)


	Diluted:
	Net income (loss) available to common stockholders		$	282,942	$	(1,233,407	)	$	(142,330	)

	Net income from assumed conversions			35,140		—			—

	Net income (loss) available to common stockholders after assumed conversions		$	318,082	$	(1,233,407	)	$	(142,330	)


	Weighted average basic number of common shares outstanding			415,772		379,621			156,494
	Common stock equivalent shares representing shares issuable upon:
	Exercise of stock options			377		Anti-dilutive			Anti-dilutive
	Exercise of February 2012 Warrants			3,920		Anti-dilutive			Anti-dilutive
	Exercise of August 2012 Warrants(1)			—		Anti-dilutive			Anti-dilutive
	Vesting of restricted shares			1,549		Anti-dilutive			Anti-dilutive
	Vesting of performance units			362		—			—
	Conversion of 2017 Notes			64,371		Anti-dilutive			Anti-dilutive
	Conversion of preferred stock(2)			—		Anti-dilutive			Anti-dilutive
	Conversion of Series A Preferred Stock			56,043		Anti-dilutive			—

	Weighted average diluted number of common shares outstanding			542,394		379,621			156,494

	Diluted net income (loss) per common share		$	0.59	$	(3.25	)	$	(0.91	)




	-1	The August 2012 warrants expired on June 9, 2013.
	-2	The preferred stock converted into shares of common stock on January 18, 2013.

ADDITIONAL_FINANCIAL_STATEMENT1

ADDITIONAL FINANCIAL STATEMENT INFORMATION (Tables)	12 Months Ended
ADDITIONAL FINANCIAL STATEMENT INFORMATION (Tables)	Dec. 31, 2014
ADDITIONAL FINANCIAL STATEMENT INFORMATION
Schedule of additional financial statement information, balance sheet
		December 31,
		2014		2013
		(In thousands)
	Accounts receivable:
	Oil, natural gas and natural gas liquids revenues	$	104,370	$	129,355
	Joint interest accounts		140,352		170,907
	Accrued settlements on derivative contracts		25,929		—
	Affiliated partnership		661		500
	Other		5,247		11,756

		$	276,559	$	312,518


	Prepaids and other:
	Prepaid	$	6,030	$	5,636
	Income tax receivable		2,991		10,404
	Other		58		58

		$	9,079	$	16,098


	Accounts payable and accrued liabilities:
	Trade payables	$	60,512	$	87,661
	Accrued oil and natural gas capital costs		308,604		292,472
	Revenues and royalties payable		100,498		124,222
	Accrued interest expense		82,942		82,570
	Accrued employee compensation		3,171		2,272
	Accrued lease operating expenses		29,681		21,469
	Drilling advances from partners		21,220		24,882
	Affiliated partnership		762		679
	Other		360		362

		$	607,750	$	636,589

CONDENSED_CONSOLIDATING_FINANC1

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)	12 Months Ended
CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)	Dec. 31, 2014
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Results of operations	CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

			Year Ended December 31, 2014
			Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
			Company			Subsidiaries			Subsidiary			Eliminations			Consolidated
			(In thousands)
	Operating revenues:
	Oil, natural gas and natural gas liquids sales:
	Oil		$	—		$	1,055,460		$	15,859		$	—		$	1,071,319
	Natural gas			—			37,101			—			—			37,101
	Natural gas liquids			—			37,460			—			—			37,460

	Total oil, natural gas and natural			—			1,130,021			15,859			—			1,145,880
	gas liquids sales			—			1,130,021			15,859			—			1,145,880
	Other			—			2,381			—			—			2,381

	Total operating revenues			—			1,132,402			15,859			—			1,148,261

	Operating expenses:
	Production:
	Lease operating			—			129,510			729			—			130,239
	Workover and other			—			16,193			—			—			16,193
	Taxes other than income			634			105,372			325			—			106,331
	Gathering and other			—			26,719			—			—			26,719
	Restructuring			—			987			—			—			987
	General and administrative			72,168			43,611			4,850			(4,097	)		116,532
	Depletion, depreciation and accretion			2,646			520,705			20,130			(9,060	)		534,421
	Full cost ceiling impairment			—			95,359			139,599			4,710			239,668
	Other operating property and equipment impairment			—			35,558			—			—			35,558

	Total operating expenses			75,448			974,014			165,633			(8,447	)		1,206,648

	Income (loss) from operations			(75,448	)		158,388			(149,774	)		8,447			(58,387	)
	Other income (expenses):
	Net gain (loss) on derivative contracts			—			518,956			—			—			518,956
	Interest expense and other, net			(317,556	)		169,752			2,115			—			(145,689	)

	Total other income (expenses)			(317,556	)		688,708			2,115			—			373,267

	Income (loss) before income taxes			(393,004	)		847,096			(147,659	)		8,447			314,880
	Income tax benefit (provision)			—			(31,960	)		(1,417	)		34,453			1,076
	Equity in earnings of subsidiary, net of tax			695,784			(119,352	)		—			(576,432	)		—

	Net income (loss)			302,780			695,784			(149,076	)		(533,532	)		315,956
	Series A preferred dividends			(19,838	)		—			—			—			(19,838	)
	Preferred dividends and accretion on redeemable noncontrolling interest			—			—			(13,176	)		—			(13,176	)

	Net income (loss) available to common stockholders		$	282,942		$	695,784		$	(162,252	)	$	(533,532	)	$	282,942




Balance sheet	CONDENSED CONSOLIDATING BALANCE SHEETS

			December 31, 2014
			Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
			Company			Subsidiaries			Subsidiary			Eliminations			Consolidated
			(In thousands)
	Current assets:
	Cash		$	—		$	15		$	43,698		$	—		$	43,713
	Accounts receivable			—			262,543			14,858			(842	)		276,559
	Receivables from derivative contracts			—			352,530			—			—			352,530
	Restricted cash			—			—			16,131			—			16,131
	Inventory			—			4,619			74			—			4,693
	Prepaids and other			372			8,707			—			—			9,079

	Total current assets			372			628,414			74,761			(842	)		702,705

	Oil and natural gas properties (full cost method):
	Evaluated			—			6,169,553			225,617			(4,350	)		6,390,820
	Unevaluated			—			1,558,412			271,374			—			1,829,786

	Gross oil and natural gas properties			—			7,727,965			496,991			(4,350	)		8,220,606
	Less—accumulated depletion			—			(2,797,606	)		(159,782	)		4,350			(2,953,038	)

	Net oil and natural gas properties			—			4,930,359			337,209			—			5,267,568

	Other operating property and equipment:
	Gas gathering and other operating assets			14,523			112,103			178			—			126,804
	Less—accumulated depreciation			(6,522	)		(8,259	)		(17	)		—			(14,798	)

	Net other operating property and equipment			8,001			103,844			161			—			112,006

	Other noncurrent assets:
	Receivables from derivative contracts			—			151,324			—			—			151,324
	Debt issuance costs, net			55,904			—			—			—			55,904
	Deferred income taxes			(54	)		136,880			—			—			136,826
	Intercompany notes and accounts receivable			4,891,427			239,250			—			(5,130,677	)		—
	Investment in subsidiary			803,786			274,553			—			(1,078,339	)		—
	Equity in oil and natual gas partnership			—			4,309			—			—			4,309
	Funds in escrow and other			515			684			2,634			—			3,833

	Total assets		$	5,759,951		$	6,469,617		$	414,765		$	(6,209,858	)	$	6,434,475


	Current liabilities:
	Accounts payable and accrued liabilities		$	—		$	592,340		$	50,706		$	(35,296	)	$	607,750
	Asset retirement obligations			—			106			—			—			106
	Current portion of deferred income taxes			1,794			135,032			—			—			136,826

	Total current liabilities			1,794			727,478			50,706			(35,296	)		744,682

	Long-term debt			3,746,736			—			—			—			3,746,736
	Other noncurrent liabilities:
	Liabilities from derivative contracts			—			9,387			—			—			9,387
	Asset retirement obligations			—			37,538			833			—			38,371
	Intercompany notes and accounts payable			239,250			4,891,427			—			(5,130,677	)		—
	Other			2			1			5,961			—			5,964
	Commitments and contingencies
	Mezzanine equity:
	Redeemable noncontrolling interest			—			—			117,166			—			117,166
	Stockholders' equity:
	Preferred stock			—			—			—			—			—
	Common stock			42			—			—			—			42
	Additional paid-in capital			2,995,402			—			402,351			(402,351	)		2,995,402
	Retained earnings (accumulated deficit)			(1,223,275	)		803,786			(162,252	)		(641,534	)		(1,223,275	)

Total stockholders' equity			1,772,169			803,786			240,099			(1,043,885	)		1,772,169

Total liabilities and stockholders' equity		$	5,759,951		$	6,469,617		$	414,765		$	(6,209,858	)	$	6,434,475




Cash flows	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

			Year Ended December 31, 2014
			Parent			Guarantor			Non-Guarantor			Eliminations			Consolidated
			Company			Subsidiaries			Subsidiary			Eliminations			Consolidated
			(In thousands)
	Cash flows from operating activities:
	Net cash provided by (used in) operating activities		$	(368,406	)	$	1,029,056		$	11,634		$	(4,350	)	$	667,934
	Cash flows from investing activities:
	Cash flows from investing activities:
	Oil and natural gas capital expenditures			—			(1,404,492	)		(124,199	)		4,350			(1,524,341	)
	Proceeds received from sales of oil and natural gas assets			—			450,407			33,777			—			484,184
	Advance on carried interest			—			(62,500	)		(126,942	)		—			(189,442	)
	Other operating property and equipment capital expenditures			(1,132	)		(41,863	)		(88	)		—			(43,083	)
	Advances to subsidiary			(179,123	)		(154,138	)		—			333,261			—
	Funds held in escrow and other			—			1,589			—			—			1,589

	Net cash provided by (used in) investing activities			(180,255	)		(1,210,997	)		(217,452	)		337,611			(1,271,093	)

	Cash flows from financing activities:
	Proceeds from borrowings			2,276,000			—			—			—			2,276,000
	Repayments of borrowings			(1,719,000	)		—			—			—			(1,719,000	)
	Debt issuance costs			(819	)		—			—			—			(819	)
	Series A preferred dividends			(4,960	)		—			—			—			(4,960	)
	HK TMS, LLC preferred stock issued			—			—			110,051			—			110,051
	HK TMS, LLC tranche rights			—			—			4,516			—			4,516
	Preferred dividends on redeemable noncontrolling interest			—			—			(3,518	)		—			(3,518	)
	Restricted cash			—			—			(16,131	)		—			(16,131	)
	Proceeds from subsidiary			—			179,123			154,138			(333,261	)		—
	Offering costs and other			(2,561	)		—			460			—			(2,101	)

	Net cash provided by (used in) financing activities			548,660			179,123			249,516			(333,261	)		644,038

	Net increase (decrease) in cash			(1	)		(2,818	)		43,698			—			40,879
	Cash at beginning of period			1			2,833									2,834
	Cash at beginning of period			1			2,833			—			—			2,834

	Cash at end of period		$	—		$	15		$	43,698		$	—		$	43,713

SUMMARY_OF_SIGNIFICANT_EVENTS_2

SUMMARY OF SIGNIFICANT EVENTS AND ACCOUNTING POLICIES (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	item	Dec. 31, 2013	Dec. 31, 2012
Basis of Presentation and Principles of Consolidation
Number of operating segments	1
Corrections of errors
Net cash provided by operating activities	($667,934)	($493,924)	($84,360)
Net cash used in investing activities	($1,271,093)	($2,100,699)	($2,832,466)

SUMMARY_OF_SIGNIFICANT_EVENTS_3

SUMMARY OF SIGNIFICANT EVENTS AND ACCOUNTING POLICIES (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Other operating property and equipment
Non-cash impairment charge	$35,558,000	$67,454,000
Accumulated depreciation	14,798,000	8,461,000
Gross investments	126,804,000	125,837,000
Gas gathering systems and equipment
Other operating property and equipment
Estimated useful life	30 years
Cost capitalized	83,100,000	92,000,000
Accumulated depreciation	1,900,000
Gross investments		$72,100,000
Automobiles
Other operating property and equipment
Estimated useful life	3 years
Computers
Other operating property and equipment
Estimated useful life	3 years
Computer software \| Maximum
Other operating property and equipment
Estimated useful life	5 years
Fixtures, furniture and equipment \| Maximum
Other operating property and equipment
Estimated useful life	5 years
Trailers
Other operating property and equipment
Estimated useful life	7 years
Heavy equipment
Other operating property and equipment
Estimated useful life	10 years
Airplane and buildings
Other operating property and equipment
Estimated useful life	20 years

SUMMARY_OF_SIGNIFICANT_EVENTS_4

SUMMARY OF SIGNIFICANT EVENTS AND ACCOUNTING POLICIES (Details 3) (USD $)	0 Months Ended	3 Months Ended	12 Months Ended
	Jan. 02, 2013	Sep. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Credit and market risk
Oil and Gas Revenue			$1,145,880,000	$996,418,000	$246,971,000
Income Taxes
Unrecognized tax benefits			0	0	0
Interest or penalties recognized in the results of operations			0	0	0
Interest or penalties recognized in the statement of financial position			0
Goodwill
Impairment of goodwill		228,900,000		228,875,000
Carrying value of goodwill		0
401(k) Plan
Eligibility age for employees to participate in the plan			18 years
Company's matching contributions			$4,500,000	$4,900,000	$1,800,000
Company's matching contributions dollar-for-dollar on employee's pre-tax earnings (as a percent)	10.00%
Revenues. \| Concentrations of Credit Risk
Credit and market risk
Number of customers			3	4	2
Percentage of concentration risk			66.00%	63.00%
Revenues. \| Concentrations of Credit Risk \| STUSCO
Credit and market risk
Percentage of concentration risk					20.00%
Revenues. \| Concentrations of Credit Risk \| Sunoco
Credit and market risk
Percentage of concentration risk					19.00%

RECAPITALIZATION_Details

RECAPITALIZATION (Details) (USD $)

0 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

Feb. 10, 2012

Feb. 29, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Jan. 31, 2012

Dec. 31, 2011

Feb. 08, 2014

22-May-14

Jan. 17, 2013

Feb. 28, 2012

Feb. 08, 2012

23-May-13

17-May-12

3-May-10

8-May-08

8-May-06

Dec. 21, 2011

item

Recapitalization

Reverse stock split ratio

0.333

Common Stock, Shares Authorized

1,340,000,000

670,000,000

Material events and items from recapitalization transaction

Number of executive officers resigned or terminated

Change in control payments to the officers recorded in general and administrative expense

$4,600,000

Change in control payment pursuant to a retainer agreement

800,000

Payoff and termination of credit facility

1,719,000,000

2,644,400,000

655,000,000

Closing costs related to engagement fees and various professional fees

11,200,000

Termination fee related to previous engagement

2,500,000

Plan

Material events and items from recapitalization transaction

Change in control accelerated vesting of share-based compensation awards, recorded in general and administrative expense

4,300,000

8% convertible Note

Recapitalization

Amount of principal and accrued interest that is convertible into one share of the entity's common stock (in dollars per share)

$4.50

Number of holders of notes who converted their notes into common stock

Revolving credit facility

Material events and items from recapitalization transaction

Payoff and termination of credit facility

133,000,000

Related unamortized debt issue costs

2,900,000

Second lien term facility

Material events and items from recapitalization transaction

Payoff and termination of credit facility

75,000,000

Related unamortized debt issue costs

2,900,000

Debt prepayment fee

1,500,000

February 2012 Warrants

Recapitalization

Exercise price (in dollars per share)

$4.50

Common Stock

Recapitalization

Common stock shares authorized before amendment

100,000,000

Common stock shares authorized after amendment but before reverse stock split

1,010,000,000

Reverse stock split ratio

0.333

Common Stock, Shares Authorized

1,340,000,000

670,000,000

336,700,000

Common Stock | Plan

Recapitalization

Shares issuable under the plan

3,700,000

41,500,000

11,500,000

2,500,000

2,000,000

800,000

The Purchase Agreement | HALRES | 8% convertible Note

Recapitalization

Principal amount

275,000,000

The Purchase Agreement | HALRES | February 2012 Warrants

Recapitalization

Term

5 years

Number of shares of common stock that can be purchased from warrants

36,700,000

Exercise price (in dollars per share)

$4.50

The Purchase Agreement | HALRES | Common Stock

Recapitalization

Shares sold under agreement that will be issued at closing

73,300,000

Purchase price of shares sold under agreement

$275,000,000

The Purchase Agreement | HALRES | Common Stock | 8% convertible Note

Recapitalization

Amount of principal and accrued interest that is convertible into one share of the entity's common stock (in dollars per share)

4.5

Convertible shares of common stock

64,400,000

Number of holders of notes who converted their notes into common stock

RESTRUCTURING_Details

RESTRUCTURING (Details) (USD $)	3 Months Ended	12 Months Ended
RESTRUCTURING (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2012
RESTRUCTURING
Severance costs	$4,000,000
Restructuring liability
Net increase in accrual		987,000	4,471,000	2,406,000
Severance Program
Restructuring
Estimated expense					2,900,000
Restructuring liability
Beginning balance			2,131,000
Severance and retention payments			-2,627,000
Net increase in accrual			$496,000

ACQUISITIONS_AND_DIVESTITURES_1

ACQUISITIONS AND DIVESTITURES (Details) (USD $)	12 Months Ended	0 Months Ended				12 Months Ended		0 Months Ended		1 Months Ended
	Dec. 31, 2014	Jan. 14, 2013	Nov. 06, 2012	Dec. 06, 2012	Dec. 06, 2012	Dec. 31, 2013	Dec. 31, 2012	Aug. 02, 2012	Aug. 02, 2012	Aug. 31, 2012	Jan. 17, 2013	Feb. 29, 2012
	Dec. 31, 2014	Jan. 14, 2013	Nov. 06, 2012	item	Dec. 06, 2012	Dec. 31, 2013	Dec. 31, 2012	Aug. 02, 2012	Aug. 02, 2012	Aug. 31, 2012	Jan. 17, 2013	Feb. 29, 2012
ACQUISITIONS AND DIVESTITURES
Cash dividend paid on convertible preferred stock	$4,960,000
Estimated Fair Value of Assets Acquired:
Evaluated oil and natural gas properties	6,390,820,000					4,960,467,000
Additional disclosures
Common stock price (in dollars per share)	$1.78
Preferred stock, par value (in dollars per share)	$0.00					$0.00
8.875% Senior Notes
Additional disclosures
Principal amount	1,350,000,000		750,000,000			1,350,000,000
Interest rate (as a percent)	8.88%	8.88%	8.88%			8.88%
Net proceeds from issuance		619,500,000	725,600,000
Williston Basin Assets
ACQUISITIONS AND DIVESTITURES
Number of entities				2
Purchase Price:
Halcon preferred shares issued to Sellers				695,238,000	695,238,000
Cash consideration paid to Sellers					788,769,000	32,713,000	756,056,000
Total purchase price					1,484,007,000
Estimated Fair Value of Liabilities Assumed:
Current liabilities				7,211,000	7,211,000
Asset retirement obligations				5,207,000	5,207,000
Amount attributable to liabilities assumed				12,418,000	12,418,000
Total purchase price plus liabilities assumed				1,496,425,000	1,496,425,000
Estimated Fair Value of Assets Acquired:
Current assets				4,264,000	4,264,000
Evaluated oil and natural gas properties				630,431,000	630,431,000
Unevaluated oil and natural gas properties				861,730,000	861,730,000
Amount attributable to assets acquired				1,496,425,000	1,496,425,000
Additional disclosures
Common stock price (in dollars per share)				$6.39	$6.39
Preferred stock, par value (in dollars per share)				$0.00	$0.00
Principal amount				750,000,000	750,000,000
Williston Basin Assets \| Crude oil
Additional disclosures
Weighted average commodity prices				95.17	95.17
Williston Basin Assets \| Natural gas
Additional disclosures
Weighted average commodity prices				10.85	10.85
Williston Basin Assets \| 8.875% Senior Notes
Additional disclosures
Interest rate (as a percent)				8.88%	8.88%
Net proceeds from issuance				725,600,000
Williston Basin Assets \| Common Stock
ACQUISITIONS AND DIVESTITURES
Preferred stock, conversion price (in dollars per share)											$7.45
Additional disclosures
Number of shares of common stock to be issued upon conversion	108,800,000			10,000	10,000						108,800,000	10,000
GeoResources
Purchase Price:
Cash consideration paid to Sellers							579,497,000	579,497,000
Total purchase price									854,412,000
Estimated Fair Value of Liabilities Assumed:
Current liabilities								112,412,000	112,412,000
Asset retirement obligations								28,064,000	28,064,000
Amount attributable to liabilities assumed								408,885,000	408,885,000
Total purchase price plus liabilities assumed								1,263,297,000	1,263,297,000
Estimated Fair Value of Assets Acquired:
Current assets								108,067,000	108,067,000
Evaluated oil and natural gas properties								458,564,000	458,564,000
Unevaluated oil and natural gas properties								454,000,000	454,000,000
Amount attributable to assets acquired								1,034,422,000	1,034,422,000
GeoResources \| Crude oil
Additional disclosures
Weighted average commodity prices								98.37	98.37
GeoResources \| Natural gas
Additional disclosures
Weighted average commodity prices								6.65	6.65
GeoResources \| Common Stock
ACQUISITIONS AND DIVESTITURES
Shares issued or issuable									51,344,000	51,300,000
Purchase Price:
Halcon preferred shares issued to Sellers								$321,416,000	$321,416,000
Additional disclosures
Common stock price (in dollars per share)								$6.26	$6.26

ACQUISITIONS_AND_DIVESTITURES_2

ACQUISITIONS AND DIVESTITURES (Details 2) (USD $)	0 Months Ended		12 Months Ended	1 Months Ended
	Aug. 02, 2012	Aug. 02, 2012	Dec. 31, 2012	Aug. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 19, 2013	Jul. 16, 2012
	item	Aug. 02, 2012	Dec. 31, 2012	Aug. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 19, 2013	Jul. 16, 2012
Purchase Price:
Halcon common stock price (in dollars per share)					$1.78
Estimated fair value of assets acquired:
Evaluated oil and natural gas properties					$6,390,820,000	$4,960,467,000
Goodwill							0
Additional disclosures
Common Stock, Shares, Outstanding					427,808,306	415,729,962
9.75% Senior Notes
Components of cash flow for the Merger
Interest rate (as a percent)					9.75%	9.75%		9.75%	9.75%
GeoResources
ACQUISITIONS AND DIVESTITURES
Cash consideration fixed under the merger agreement (in dollars per share)	$20
Number of common shares issued per share of acquiree entity	1.932
Purchase Price:
Cash consideration paid to stockholders	521,526,000	521,526,000
Cash consideration paid to stock option holders	9,996,000	9,996,000
Fair value of warrants assumed by Halcon	1,474,000	1,474,000
Total purchase price		854,412,000
Estimated fair value of liabilities assumed:
Current liabilities	112,412,000	112,412,000
Deferred tax liability	188,385,000	188,385,000
Asset retirement obligations	28,064,000	28,064,000
Other non-current liabilities	80,024,000	80,024,000
Amount attributable to liabilities assumed	408,885,000	408,885,000
Total purchase price plus liabilities assumed	1,263,297,000	1,263,297,000
Estimated fair value of assets acquired:
Current assets	108,067,000	108,067,000
Evaluated oil and natural gas properties	458,564,000	458,564,000
Unevaluated oil and natural gas properties	454,000,000	454,000,000
Net other operating property and equipment	1,179,000	1,179,000
Equity in oil and gas partnerships	10,967,000	10,967,000
Other non-current assets	1,645,000	1,645,000
Amount attributable to assets acquired	1,034,422,000	1,034,422,000
Goodwill	228,875,000	228,875,000
Additional disclosures
Common Stock, Shares, Outstanding	26,600,000	26,600,000
Components of cash flow for the Merger
Total cash consideration for Merger and stock options	531,522,000
Retirement of GeoResources' long-term debt	80,328,000
Cash acquired on date of Merger	-32,353,000
Total cash outflows, net	579,497,000		579,497,000
Increase in deferred tax liability	127,000,000
Deferred tax liability before acquisition	61,400,000
Number of affiliated partnerships in which company acquired investments	2
GeoResources \| OKLA Energy
Components of cash flow for the Merger
Ownership percentage	2.00%	2.00%
Ownership percentage, when limited partner realizes a contractually specified rate of return	35.66%
GeoResources \| SBE Partners
Components of cash flow for the Merger
Ownership percentage	30.00%	30.00%
GeoResources \| Natural gas
Components of cash flow for the Merger
Weighted average commodity prices	6.65	6.65
GeoResources \| Crude oil
Components of cash flow for the Merger
Weighted average commodity prices	98.37	98.37
GeoResources \| NGLs
Components of cash flow for the Merger
Weighted average commodity prices	35.66	35.66
GeoResources \| 9.75% Senior Notes
Components of cash flow for the Merger
Interest rate (as a percent)	9.75%	9.75%
GeoResources \| Common Stock
Purchase Price:
Shares of Halcon common stock issued to stockholders		50,378,000
Shares of Halcon common stock issued to stock option holders		966,000
Total Halcon common stock issued		51,344,000		51,300,000
Halcon common stock price (in dollars per share)	$6.26	$6.26
Fair value of common stock issued	$321,416,000	$321,416,000

ACQUISITIONS_AND_DIVESTITURES_3

ACQUISITIONS AND DIVESTITURES (Details 3) (USD $)	0 Months Ended			1 Months Ended	12 Months Ended
Share data in Thousands, except Per Share data, unless otherwise specified	Aug. 02, 2012	Aug. 03, 2012	Aug. 03, 2012	Aug. 31, 2012	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 19, 2013	Jul. 16, 2012	Jul. 31, 2012
Purchase Price:
Halcon common stock price (in dollars per share)						$1.78
Estimated fair value of assets acquired:
Evaluated oil and natural gas properties						$6,390,820,000	$4,960,467,000
9.75% Senior Notes
Additional disclosures
Principal amount						1,150,000,000	1,150,000,000		750,000,000
Interest rate (as a percent)						9.75%	9.75%	9.75%	9.75%
East Texas Assets
Purchase Price:
Shares of Halcon common stock issued	16,460	4,310	20,770
Halcon common stock price (in dollars per share)	$6.26									$6.40
Fair value of Halcon common stock issued				130,623,000
Cash consideration paid to Sellers				296,139,000	296,139,000
Total purchase price				426,762,000
Estimated fair value of liabilities assumed:
Current liabilities				192,000
Asset retirement obligations				337,000
Amount attributable to liabilities assumed				529,000
Total purchase price plus liabilities assumed				427,291,000
Estimated fair value of assets acquired:
Evaluated oil and natural gas properties				337,303,000
Unevaluated oil and natural gas properties				89,988,000
Amount attributable to assets acquired				427,291,000
East Texas Assets \| Natural gas
Additional disclosures
Weighted average commodity prices				6.26
East Texas Assets \| NGLs
Additional disclosures
Weighted average commodity prices				49.68
East Texas Assets \| Crude oil
Additional disclosures
Weighted average commodity prices				98.35
East Texas Assets \| 9.75% Senior Notes
Additional disclosures
Principal amount				750,000,000
Interest rate (as a percent)				9.75%
East Texas Assets \| As initially reported
Purchase Price:
Cash consideration paid to Sellers				$296,100,000
East Texas Assets \| Common Stock
Purchase Price:
Shares of Halcon common stock issued				20,800

ACQUISITIONS_AND_DIVESTITURES_4

ACQUISITIONS AND DIVESTITURES (Details 4) (USD $)	12 Months Ended			0 Months Ended	1 Months Ended	0 Months Ended
ACQUISITIONS AND DIVESTITURES (Details 4) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Aug. 02, 2012	Aug. 31, 2012	Aug. 02, 2012	Aug. 03, 2012	Aug. 03, 2012	Jan. 17, 2013	Dec. 06, 2012	Feb. 29, 2012
Pro forma financial information
Net Income (Loss) Available to Common Stockholders, Basic	$282,942,000	($1,233,407,000)	($142,330,000)
Merger, East Texas Acquisition and Williston Basin Acquisition
Pro forma financial information
Revenue			608,092,000
Net income (loss)			34,895,000
Net Income (Loss) Available to Common Stockholders, Basic			-53,550,000
Pro forma net income (loss) per common share:
Basic (in dollars per share)			($0.17)
Diluted (in dollars per share)			($0.17)
Merger, East Texas Acquisition and Williston Basin Acquisition \| Pro forma
Additional disclosures
Effective income tax rate (as a percent)	38.00%
GeoResources
Additional disclosures
Oil, natural gas and natural gas liquids sales related to properties acquired			90,800,000
Net field operating income related to properties acquired			25,700,000
Non-recurring transaction costs			21,500,000
GeoResources \| Pro forma
Additional disclosures
Non-recurring transaction costs	59,500,000
GeoResources \| Common Stock
Additional disclosures
Shares issued				51,344,000	51,300,000
East Texas Assets
Additional disclosures
Shares issued						16,460,000	4,310,000	20,770,000
Oil, natural gas and natural gas liquids sales related to properties acquired			34,800,000
Net field operating income related to properties acquired			16,500,000
Non-recurring transaction costs			1,100,000
East Texas Assets \| Common Stock
Additional disclosures
Shares issued					20,800,000
Williston Basin Assets
Additional disclosures
Oil, natural gas and natural gas liquids sales related to properties acquired			19,700,000
Net field operating income related to properties acquired			6,700,000
Non-recurring transaction costs			$14,200,000
Williston Basin Assets \| Common Stock
Additional disclosures
Number of shares of common stock to be issued upon conversion	108,800,000								108,800,000	10,000	10,000

ACQUISITIONS_AND_DIVESTITURES_5

ACQUISITIONS AND DIVESTITURES (Details 5) (Weber Acquisition, USD $)	0 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2012
Weber Acquisition
ACQUISITIONS AND DIVESTITURES
Total purchase price	$83,700
Cash consideration paid to sellers	8,400
Promissory notes as consideration for acquisition	$75,300

ACQUISITIONS_AND_DIVESTITURES_6

ACQUISITIONS AND DIVESTITURES (Details 6) (USD $)	12 Months Ended			0 Months Ended			9 Months Ended	0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 29, 2012	9-May-14	Dec. 20, 2013	Sep. 30, 2013	Jul. 19, 2013	Sep. 30, 2014	Feb. 08, 2012
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 29, 2012	9-May-14	item	Sep. 30, 2013	Jul. 19, 2013	Sep. 30, 2014	Feb. 08, 2012
Divestitures
Proceeds from sale of interests, before post-closing adjustments	$484,184,000	$448,299,000	$21,964,000
Senior revolving credit facility
Divestitures
Current borrowing capacity									700,000,000	1,050,000,000
Louisiana Properties
Divestitures
Gain (loss) from sale of interests				0
Proceeds from sale of interests, before post-closing adjustments				22,000,000
East Texas Assets
Divestitures
Gain (loss) from sale of interests					0
Proceeds from sale of interests, before post-closing adjustments					424,500,000
Non-core Divestitures
Divestitures
Number of separate purchase and sale agreements						3
Total consideration from non-core properties						276,200,000
Gain (loss) from sale of interests							0
Eagle Ford Assets
Divestitures
Gain (loss) from sale of interests								0
Proceeds from sale of interests, before post-closing adjustments								$148,600,000

OIL_AND_NATURAL_GAS_PROPERTIES2

OIL AND NATURAL GAS PROPERTIES (Details) (USD $)	3 Months Ended		12 Months Ended
OIL AND NATURAL GAS PROPERTIES (Details) (USD $)	Dec. 31, 2014	Sep. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
OIL AND NATURAL GAS PROPERTIES
Subject to depletion	$6,390,820,000		$6,390,820,000	$4,960,467,000
Not subject to depletion:
Exploration and extension wells in progress	73,684,000		73,684,000	109,279,000
Other capital costs:
Incurred in 2014	415,807,000		415,807,000
Incurred in 2013	510,308,000		510,308,000	750,960,000
Incurred in 2012	829,987,000		829,987,000	1,167,805,000
Total not subject to depletion	1,829,786,000		1,829,786,000	2,028,044,000
Gross oil and natural gas properties	8,220,606,000		8,220,606,000	6,988,511,000
Less accumulated depletion	-2,953,038,000		-2,953,038,000	-2,189,515,000
Net oil and natural gas properties	5,267,568,000		5,267,568,000	4,798,996,000
Oil and Natural Gas Properties
Amount of unevaluated property costs transferred to the full cost pool	211,500,000	655,700,000
Ceiling Limitation Disclosures
First day average of the West Texas Intermediate (WTI) spot price (in dollars per barrel)			94.99	96.94	94.71
First day average of the Henry Hub price (in dollars per Mmbtu)			4.35	3.67	2.757
Full cost ceiling impairment			239,668,000	1,147,771,000
Full cost ceiling impairment, after tax			151,400,000	727,200,000
Unevaluated Oil and Gas Leaseholds
Oil and Natural Gas Properties
Interest costs capitalized			$168,300,000	$201,500,000

LONGTERM_DEBT_Details

LONG-TERM DEBT (Details) (USD $)	0 Months Ended
LONG-TERM DEBT (Details) (USD $)	Jan. 14, 2013	Dec. 19, 2013	Dec. 31, 2014	Dec. 31, 2013	Aug. 13, 2013	Nov. 06, 2012	Jul. 16, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Feb. 08, 2012
Long-term debt
Long-term debt			$3,746,736,000	$3,183,823,000
Long-term debt, current				1,389,000
Deferred premiums on derivative contracts, current				1,400,000
Unamortized premium related to debt issued			24,600,000
Senior revolving credit facility
Long-term debt
Long-term debt			557,000,000
9.25% Senior Notes
Long-term debt
Long-term debt			400,000,000	400,000,000
Interest rate (as a percent)			9.25%	9.25%	9.25%
Principal amount			400,000,000	400,000,000	400,000,000
8.875% Senior Notes
Long-term debt
Long-term debt			1,370,032,000	1,372,355,000
Interest rate (as a percent)	8.88%		8.88%	8.88%		8.88%
Principal amount			1,350,000,000	1,350,000,000		750,000,000
Unamortized discount			4,600,000	5,100,000		5,700,000
Principal amount of debt issued	600,000,000
Unamortized premium related to debt issued	30,000,000		24,600,000	27,500,000
9.75% Senior Notes
Long-term debt
Long-term debt			1,151,821,000	1,152,099,000
Interest rate (as a percent)		9.75%	9.75%	9.75%			9.75%
Principal amount			1,150,000,000	1,150,000,000			750,000,000
Unamortized discount			7,900,000	8,900,000			10,200,000
Principal amount of debt issued		400,000,000
Unamortized premium related to debt issued		11,000,000	9,700,000	11,000,000
8% convertible Note
Long-term debt
Long-term debt			267,883,000	259,369,000
Interest rate (as a percent)			8.00%	8.00%				8.00%	8.00%	8.00%	8.00%
Principal amount			289,700,000	289,700,000							275,000,000
Unamortized discount			$21,800,000	$30,300,000							$43,600,000

LONGTERM_DEBT_Details_2

LONG-TERM DEBT (Details 2) (USD $)	0 Months Ended	12 Months Ended	0 Months Ended		12 Months Ended
In Millions, unless otherwise specified	Feb. 08, 2012	Dec. 31, 2014	Mar. 21, 2014	Feb. 25, 2015	Dec. 31, 2012	Sep. 30, 2014
	multiplier
	item
Senior revolving credit facility
Long-term debt
Maximum borrowing capacity	$1,500					$1,050
Current borrowing capacity	1,050					700
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
Amount outstanding		557
Letters of credit outstanding		1.1
Borrowing capacity available before indebtedness limitation in indentures		491.9
Senior revolving credit facility \| Subsequent event
Long-term debt
Maximum borrowing capacity				1,050
Senior revolving credit facility \| Minimum
Long-term debt
Working capital levels	1
Interest coverage ratio	2.5		2
Senior revolving credit facility \| Minimum \| Subsequent event
Long-term debt
Interest coverage ratio				2
Senior revolving credit facility \| ABR-based
Long-term debt
Variable rate base	base rate
Senior revolving credit facility \| ABR-based \| Minimum
Long-term debt
Applicable margin (as a percent)	0.50%
Senior revolving credit facility \| ABR-based \| Maximum
Long-term debt
Applicable margin (as a percent)	1.50%
Senior revolving credit facility \| Euro-dollar based
Long-term debt
Variable rate base	LIBOR
Senior revolving credit facility \| Euro-dollar based \| Minimum
Long-term debt
Applicable margin (as a percent)	1.50%
Senior revolving credit facility \| Euro-dollar based \| Maximum
Long-term debt
Applicable margin (as a percent)	2.50%
March 2011 Credit Facilities
Long-term debt
Interest expense related to an early termination penalty	1.5
March 2011 revolving credit facility
Long-term debt
Maximum borrowing capacity	250
Variable rate base	LIBOR
Amount outstanding					127
March 2011 revolving credit facility \| Election to pay a portion of interest in kind
Long-term debt
Variable rate base	LIBOR
Applicable margin (as a percent)	10.00%
LIBOR floor rate (as a percent)	2.00%
Portion of interest paid in cash (as a percent)	7.00%
Portion of interest paid in kind (as a percent)	3.00%
March 2011 revolving credit facility \| Minimum
Long-term debt
Applicable margin (as a percent)	2.50%
March 2011 revolving credit facility \| Maximum
Long-term debt
Applicable margin (as a percent)	3.25%
Second lien term loan facility
Long-term debt
Maximum borrowing capacity	75
Credit facility term	5 years 6 months
Variable rate base	LIBOR
Applicable margin (as a percent)	9.00%
LIBOR floor rate (as a percent)	2.00%
Amount outstanding					$75

LONGTERM_DEBT_Details_3

LONG-TERM DEBT (Details 3) (USD $)	0 Months Ended	12 Months Ended	0 Months Ended
LONG-TERM DEBT (Details 3) (USD $)	Aug. 13, 2013	Dec. 31, 2014	Jan. 14, 2013	Nov. 06, 2012	Dec. 19, 2013	Jul. 16, 2012	Dec. 31, 2013
Long-term debt
Unamortized premium		$24,600,000
Parent Company
Long-term debt
Ownership percentage in subsidiaries		100.00%
9.25% Senior Notes
Long-term debt
Principal amount	400,000,000	400,000,000					400,000,000
Interest rate (as a percent)	9.25%	9.25%					9.25%
Net proceeds from issuance	392,100,000
Ownership percentage in subsidiaries		100.00%
Independent assets		0
Independent operations		0
Repurchase price of debt instrument upon change in control (as a percent)	101.00%
9.25% Senior Notes \| On or before August 15, 2016
Long-term debt
Redemption price of debt instrument, if redeemed with the proceeds of certain equity offerings (as a percent)		109.25%
Applicable margin (as a percent)		0.50%
9.25% Senior Notes \| On or before August 15, 2016 \| Maximum
Long-term debt
Percentage of principal amount of debt instrument which the entity may redeem		35.00%
Redemption period for the entity to redeem debt instrument following the receipt of cash proceeds from certain equity offerings		180 days
9.25% Senior Notes \| On or before August 15, 2016 \| Minimum
Long-term debt
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%
9.25% Senior Notes \| On or before August 15, 2017
Long-term debt
Redemption price of debt instrument (as a percent)		104.63%
9.25% Senior Notes \| On or before August 15, 2018
Long-term debt
Redemption price of debt instrument (as a percent)		102.31%
9.25% Senior Notes \| On or before August 15, 2019 and thereafter
Long-term debt
Redemption price of debt instrument (as a percent)		100.00%
8.875% Senior Notes
Long-term debt
Principal amount		1,350,000,000		750,000,000			1,350,000,000
Interest rate (as a percent)		8.88%	8.88%	8.88%			8.88%
Issue price as a percentage of par value			105.00%	99.25%
Net proceeds from issuance			619,500,000	725,600,000
Ownership percentage in subsidiaries		100.00%
Principal amount of debt issued			600,000,000
Independent assets		0
Independent operations		0
Repurchase price of debt instrument upon change in control (as a percent)				101.00%
Unamortized discount		4,600,000		5,700,000			5,100,000
Unamortized premium		24,600,000	30,000,000				27,500,000
8.875% Senior Notes \| On or before November 15, 2015
Long-term debt
Redemption price of debt instrument, if redeemed with the proceeds of certain equity offerings (as a percent)		108.88%
8.875% Senior Notes \| On or before November 15, 2015 \| Maximum
Long-term debt
Percentage of principal amount of debt instrument which the entity may redeem		35.00%
Redemption period for the entity to redeem debt instrument following the receipt of cash proceeds from certain equity offerings		180 days
8.875% Senior Notes \| On or before November 15, 2015 \| Minimum
Long-term debt
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%
8.875% Senior Notes \| On or before November 15, 2016
Long-term debt
Applicable margin (as a percent)		0.50%
Redemption price of debt instrument (as a percent)		104.44%
8.875% Senior Notes \| On or before November 15, 2017
Long-term debt
Redemption price of debt instrument (as a percent)		102.22%
8.875% Senior Notes \| On or before November 15, 2018 and thereafter
Long-term debt
Redemption price of debt instrument (as a percent)		100.00%
9.75% Senior Notes
Long-term debt
Principal amount		1,150,000,000				750,000,000	1,150,000,000
Interest rate (as a percent)		9.75%			9.75%	9.75%	9.75%
Issue price as a percentage of par value					102.75%	98.65%
Net proceeds from issuance					406,300,000	723,100,000
Ownership percentage in subsidiaries		100.00%
Principal amount of debt issued					400,000,000
Independent assets		0
Independent operations		0
Repurchase price of debt instrument upon change in control (as a percent)						101.00%
Unamortized discount		7,900,000				10,200,000	8,900,000
Unamortized premium		$9,700,000			$11,000,000		$11,000,000
9.75% Senior Notes \| On or before July 15, 2015
Long-term debt
Redemption price of debt instrument, if redeemed with the proceeds of certain equity offerings (as a percent)		109.75%
9.75% Senior Notes \| On or before July 15, 2015 \| Maximum
Long-term debt
Percentage of principal amount of debt instrument which the entity may redeem		35.00%
Redemption period for the entity to redeem debt instrument following the receipt of cash proceeds from certain equity offerings		180 days
9.75% Senior Notes \| On or before July 15, 2015 \| Minimum
Long-term debt
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%
9.75% Senior Notes \| On or before July 15, 2016
Long-term debt
Applicable margin (as a percent)		0.50%
Redemption price of debt instrument (as a percent)		104.88%
9.75% Senior Notes \| On or before July 15, 2017
Long-term debt
Redemption price of debt instrument (as a percent)		102.44%
9.75% Senior Notes \| On or before July 15, 2018 and thereafter
Long-term debt
Redemption price of debt instrument (as a percent)		100.00%

LONGTERM_DEBT_Details_4

LONG-TERM DEBT (Details 4) (USD $)	12 Months Ended	3 Months Ended
LONG-TERM DEBT (Details 4) (USD $)	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2014	Feb. 08, 2014	Dec. 31, 2013	Feb. 08, 2012
Long-term debt
Interest in kind	$14,669,000
Principal outstanding					3,746,669,000
8% convertible Note
Long-term debt
Principal amount					289,700,000		289,700,000	275,000,000
Interest rate (as a percent)		8.00%	8.00%	8.00%	8.00%		8.00%	8.00%
Interest in kind		5,800,000	5,700,000	3,200,000
Principal outstanding					289,700,000
Amount of principal and accrued interest that is convertible into one share of the entity's common stock (in dollars per share)						$4.50
Number Of Holders Of Notes Who Converted Their Notes In To Common Stock					0
Unamortized discount					$21,800,000		$30,300,000	$43,600,000

LONGTERM_DEBT_Details_5

LONG-TERM DEBT (Details 5) (Weber [Member], USD $)	0 Months Ended	3 Months Ended
LONG-TERM DEBT (Details 5) (Weber [Member], USD $)	Dec. 28, 2012	Mar. 31, 2013
Long-term debt
Purchase price	$83,700,000
Acquisition, net of cash acquired	8,400,000
Promissory notes as consideration for acquisition	75,300,000
Notice given to sellers for assertion of title and environmental defects for remaining properties		12,900,000
Promissory Notes
Long-term debt
Amount paid to relieve a portion of the outstanding promissory notes		62,400,000
Unamortized discount	$600,000

LONGTERM_DEBT_Details_6

LONG-TERM DEBT (Details 6) (USD $)	12 Months Ended
LONG-TERM DEBT (Details 6) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Debt Issuance Costs
Costs associated with the issuance of debt capitalized	$819,000	$23,873,000	$52,878,000
Debt issuance costs, net	55,904,000	64,308,000
Debt maturities
2017	846,669,000
Thereafter	2,900,000,000
Total	3,746,669,000
8% convertible Note
Debt maturities
Total	289,700,000
Senior revolving credit facility
Debt Issuance Costs
Debt issuance costs expensed	$800,000

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (USD $)	12 Months Ended
FAIR VALUE MEASUREMENTS (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
FAIR VALUE MEASUREMENTS
Asset transfers between levels	$0
Liability transfers between levels	0
Liabilities
Gain on expiration of the warrants		1,600,000
Recurring \| Level 2
Assets
Receivables from derivative contracts	503,854,000	24,762,000
Liabilities
Liabilities from derivative contracts	8,068,000	34,376,000
Recurring \| Level 3.
Liabilities
Liabilities from derivative contracts	1,319,000	2,816,000
Recurring \| Total
Assets
Receivables from derivative contracts	503,854,000	24,762,000
Liabilities
Liabilities from derivative contracts	$9,387,000	$37,192,000

FAIR_VALUE_MEASUREMENTS_Detail1

FAIR VALUE MEASUREMENTS (Details 2) (Recurring, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 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	1,497	-2,816
Ending Balance	-1,319	-2,816
Change in unrealized gains (losses) included in earnings related to derivatives still held at the end of the period	$1,497	($2,816)

FAIR_VALUE_MEASUREMENTS_Detail2

FAIR VALUE MEASUREMENTS (Details 3) (USD $)	12 Months Ended
FAIR VALUE MEASUREMENTS (Details 3) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Aug. 13, 2013	Jan. 14, 2013	Nov. 06, 2012	Dec. 19, 2013	Jul. 16, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Feb. 08, 2012
Fair value measurements
Non-cash impairment charge	$35,558,000	$67,454,000
9.25% Senior Notes
Fair value measurements
Interest rate (as a percent)	9.25%	9.25%	9.25%
Principal amount	400,000,000	400,000,000	400,000,000
8.875% Senior Notes
Fair value measurements
Interest rate (as a percent)	8.88%	8.88%		8.88%	8.88%
Principal amount	1,350,000,000	1,350,000,000			750,000,000
9.75% Senior Notes
Fair value measurements
Interest rate (as a percent)	9.75%	9.75%				9.75%	9.75%
Principal amount	1,150,000,000	1,150,000,000					750,000,000
8% convertible Note
Fair value measurements
Interest rate (as a percent)	8.00%	8.00%						8.00%	8.00%	8.00%	8.00%
Principal amount	289,700,000	289,700,000									275,000,000
Carrying Amount
Fair value measurements
Estimated fair value of debt	3,189,669,000	3,189,669,000
Carrying Amount \| 9.25% Senior Notes
Fair value measurements
Estimated fair value of debt	400,000,000	400,000,000
Carrying Amount \| 8.875% Senior Notes
Fair value measurements
Estimated fair value of debt	1,350,000,000	1,350,000,000
Carrying Amount \| 9.75% Senior Notes
Fair value measurements
Estimated fair value of debt	1,150,000,000	1,150,000,000
Carrying Amount \| 8% convertible Note
Fair value measurements
Estimated fair value of debt	289,669,000	289,669,000
Total
Fair value measurements
Estimated fair value of debt	2,439,255,000	3,363,788,000
Total \| 9.25% Senior Notes
Fair value measurements
Estimated fair value of debt	300,000,000	407,432,000
Total \| 8.875% Senior Notes
Fair value measurements
Estimated fair value of debt	1,005,750,000	1,390,500,000
Total \| 9.75% Senior Notes
Fair value measurements
Estimated fair value of debt	872,862,000	1,197,438,000
Total \| 8% convertible Note
Fair value measurements
Estimated fair value of debt	$260,643,000	$368,418,000

DERIVATIVE_AND_HEDGING_ACTIVIT2

DERIVATIVE AND HEDGING ACTIVITIES (Details) (USD $)	1 Months Ended
DERIVATIVE AND HEDGING ACTIVITIES (Details) (USD $)	Feb. 29, 2012	Dec. 31, 2014	Dec. 31, 2013
Derivative and hedging activities
Asset derivative contracts		$503,854,000	$24,762,000
Liability derivative contracts		-9,387,000	-37,192,000
Commodity contracts \| Swaptions \| Crude oil
Derivative and hedging activities
Number of open commodity derivative contracts		8	8
Derivatives not designated as hedging contracts
Derivative and hedging activities
Asset derivative contracts		503,854,000	24,762,000
Liability derivative contracts		-9,387,000	-37,192,000
Derivatives not designated as hedging contracts \| Commodity contracts
Derivative and hedging activities
Number of open commodity derivative contracts		72	86
Derivatives not designated as hedging contracts \| Commodity contracts \| Net gain (loss) on derivative contracts \| Senior revolving credit facility
Derivative and hedging activities
Realized loss for novation fees	400,000
Derivatives not designated as hedging contracts \| Commodity contracts \| Current assets - receivables from derivative contracts
Derivative and hedging activities
Asset derivative contracts		352,530,000	2,028,000
Derivatives not designated as hedging contracts \| Commodity contracts \| Other noncurrent assets - receivables from derivative contracts
Derivative and hedging activities
Asset derivative contracts		151,324,000	22,734,000
Derivatives not designated as hedging contracts \| Commodity contracts \| Current liabilities - liabilities from derivative contracts
Derivative and hedging activities
Liability derivative contracts			-17,859,000
Derivatives not designated as hedging contracts \| Commodity contracts \| Other noncurrent liabilities - liabilities from derivative contracts
Derivative and hedging activities
Liability derivative contracts		-9,387,000	-19,333,000
Derivatives not designated as hedging contracts \| Commodity contracts \| Collars \| Natural gas
Derivative and hedging activities
Number of open commodity derivative contracts		4	10
Derivatives not designated as hedging contracts \| Commodity contracts \| Collars \| Crude oil
Derivative and hedging activities
Number of open commodity derivative contracts		42	52
Derivatives not designated as hedging contracts \| Commodity contracts \| Swaps \| Crude oil
Derivative and hedging activities
Number of open commodity derivative contracts		16	8
Derivatives not designated as hedging contracts \| Commodity contracts \| Three- Way Collars \| Crude oil
Derivative and hedging activities
Number of open commodity derivative contracts			5
Derivatives not designated as hedging contracts \| Commodity contracts \| Put options \| Crude oil
Derivative and hedging activities
Number of open commodity derivative contracts			1
Derivatives not designated as hedging contracts \| Commodity contracts \| Extendable collars \| Crude oil
Derivative and hedging activities
Number of open commodity derivative contracts		2	2
Derivatives not designated as hedging contracts \| Interest rate swaps \| Net gain (loss) on derivative contracts \| Senior revolving credit facility
Derivative and hedging activities
Realized loss from termination of interest rate derivatives	$600,000

DERIVATIVE_AND_HEDGING_ACTIVIT3

DERIVATIVE AND HEDGING ACTIVITIES (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Derivative and hedging activities
Total net gain (loss) on derivative contracts	$518,956	($31,233)	($6,126)
Derivatives not designated as hedging contracts
Derivative and hedging activities
Total net gain (loss) on derivative contracts	518,956	-31,233	-6,126
Derivatives not designated as hedging contracts \| Commodity contracts
Derivative and hedging activities
Unrealized gain (loss)	506,526	-10,150	-13,723
Realized gain (loss)	12,430	-21,083	7,655
Total net gain (loss) on derivative contracts	518,956	-31,233	-6,068
Derivatives not designated as hedging contracts \| Interest rate swaps
Derivative and hedging activities
Unrealized gain (loss)			518
Realized gain (loss)			-576
Total net gain (loss) on derivative contracts			($58)

DERIVATIVE_AND_HEDGING_ACTIVIT4

DERIVATIVE AND HEDGING ACTIVITIES (Details 3) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Derivative Assets
Gross amounts presented in the consolidated balance sheets	$503,854	$24,762
Amounts not offset in the consolidated balance sheets	-9,655	-20,036
Net amount	494,199	4,726
Derivative Liabilities
Gross amounts presented in the consolidated balance sheet	-9,387	-37,192
Amounts not offset in the consolidated balance sheet	9,387	19,507
Net amount		($17,685)
April 2014 - June 2014 \| Three- Way Collars \| Commodity contracts \| Crude oil
Derivative and hedging activities
Put Options Sold (in dollars per Mmbtu's/Bbl's)		70
Volume in Mmbtu's/Bbl's		136,500
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
Floors (in dollars per Mmbtu's/Bbl's)		95
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
Put Options Sold (in dollars per Mmbtu's/Bbl's)		70
January 2014 - March 2014 \| Three- Way Collars \| Commodity contracts \| Crude oil
Derivative and hedging activities
Put Options Sold (in dollars per Mmbtu's/Bbl's)		70
Volume in Mmbtu's/Bbl's		144,000
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
Floors (in dollars per Mmbtu's/Bbl's)		95
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
Put Options Sold (in dollars per Mmbtu's/Bbl's)		70
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
January 2014 - June 2014 \| Collars \| Commodity contracts \| Crude oil
Derivative and hedging activities
Volume in Mmbtu's/Bbl's		724,000
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
Floors (in dollars per Mmbtu's/Bbl's)		90
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
July 2014 - December 2014 \| Collars \| Commodity contracts \| Crude oil
Derivative and hedging activities
Volume in Mmbtu's/Bbl's		920,000
July 2014 - December 2014 \| 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)		92.5
July 2014 - December 2014 \| 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)		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)		89.5
Ceilings (in dollars per Mmbtu's/Bbl's)		97.87
July 2014 - December 2014 \| Collars \| Commodity contracts \| Natural gas
Derivative and hedging activities
Volume in Mmbtu's/Bbl's		920,000
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)		4.42
July 2014 - December 2014 \| 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)		4.42
July 2014 - December 2014 \| Put options \| Commodity contracts \| Crude oil
Derivative and hedging activities
Put Options Sold (in dollars per Mmbtu's/Bbl's)		90
Volume in Mmbtu's/Bbl's		184,000
July 2014 - December 2014 \| Put options \| Commodity contracts \| Crude oil \| Weighted Average
Derivative and hedging activities
Put Options Sold (in dollars per Mmbtu's/Bbl's)		90
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
Floors (in dollars per Mmbtu's/Bbl's)		85
Ceilings (in dollars per Mmbtu's/Bbl's)		96.2
Volume in Mmbtu's/Bbl's		730,000
January 2015 - December 2015 \| Collars \| Commodity contracts \| Crude oil \| 365,000 Bbls \| Extendable period through December 31, 2016
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	85	85
Ceilings (in dollars per Mmbtu's/Bbl's)	96	96
Volume in Mmbtu's/Bbl's	366,000	365,000
January 2015 - December 2015 \| Collars \| Commodity contracts \| Crude oil \| 732,000 Bbls \| Extendable period through December 31, 2016
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	85
Ceilings (in dollars per Mmbtu's/Bbl's)	96.2
Volume in Mmbtu's/Bbl's	732,000
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
Floors (in dollars per Mmbtu's/Bbl's)	4
Volume in Mmbtu's/Bbl's	6,387,500	6,387,500
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
Floors (in dollars per Mmbtu's/Bbl's)		4
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
Floors (in dollars per Mmbtu's/Bbl's)		91.25
Volume in Mmbtu's/Bbl's		730,000
January 2015 - December 2015 \| Swaps \| Commodity contracts \| Crude oil \| 365,000 Bbls \| Extendable period through December 31, 2016
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)		91
Volume in Mmbtu's/Bbl's		365,000
January 2015 - December 2015 \| Swaps \| Commodity contracts \| Crude oil \| 732,000 Bbls \| Extendable period through December 31, 2016
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	91.25
Volume in Mmbtu's/Bbl's	732,000
January 2015 - December 2015 \| Swaps \| Commodity contracts \| Crude oil \| 366,000 Bbls \| Extendable period through December 31, 2016
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	91
Volume in Mmbtu's/Bbl's	366,000
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
Floors (in dollars per Mmbtu's/Bbl's)	87.5
Ceilings (in dollars per Mmbtu's/Bbl's)	92.5
Volume in Mmbtu's/Bbl's	306,000
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
Floors (in dollars per Mmbtu's/Bbl's)	87.5
Ceilings (in dollars per Mmbtu's/Bbl's)	92.5
Volume in Mmbtu's/Bbl's	412,500
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
Floors (in dollars per Mmbtu's/Bbl's)	90
Ceilings (in dollars per Mmbtu's/Bbl's)	96.85
Volume in Mmbtu's/Bbl's	182,000
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
Floors (in dollars per Mmbtu's/Bbl's)	4
Ceilings (in dollars per Mmbtu's/Bbl's)	4.22
Volume in Mmbtu's/Bbl's	732,000
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	4,026,000	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
Floors (in dollars per Mmbtu's/Bbl's)	88.25	88.25
Volume in Mmbtu's/Bbl's	730,000	730,000
January 2016 - December 2016 \| Swaps \| Commodity contracts \| Crude oil \| 912,500 Bbls \| Extendable period through December 31, 2017
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	88	88
Volume in Mmbtu's/Bbl's	912,500	912,500
January 2016 - December 2016 \| Swaps \| Commodity contracts \| Crude oil \| 547,500 Bbls \| Extendable period through December 31, 2017
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	88.87	88.87
Volume in Mmbtu's/Bbl's	547,500	547,500
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)	91.73	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)	89.65	88.3

ASSET_RETIREMENT_OBLIGATIONS_D

ASSET RETIREMENT OBLIGATIONS (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Activity related to ARO liability
Liability for asset retirement obligations at the beginning of the period	$39,257	$75,132
Liabilities settled and divested	-9,367	-55,905
Additions	4,171	11,730
Acquisitions	181	4,236
Accretion expense	1,822	3,596
Revisions in estimated cash flows	2,413	468
Liability for asset retirement obligations at the end of the period	$38,477	$39,257

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	12 Months Ended			3 Months Ended	0 Months Ended	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2015	Feb. 28, 2014	Jun. 30, 2014	Jan. 31, 2015	Dec. 20, 2013
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2015	Feb. 28, 2014	Jun. 30, 2014	Jan. 31, 2015	acre
COMMITMENTS AND CONTINGENCIES
Rent expense	$8,100,000	$8,700,000	$3,700,000
Approximate future minimum lease payments for all non-cancelable operating leases
2015	8,959,000
2016	8,875,000
2017	9,053,000
2018	9,291,000
2019	9,020,000
Thereafter	14,795,000
Total	59,993,000
Obligation under contractual commitments
Carry Amount paid	189,442,000
Other contractual commitments for, among other things, pipeline and well equipment and infrastructure related expenditures
2015	10,518,000
Total	10,518,000
Forecast
Commitments and contingencies
Stacking fees per day pertaining to the new drilling rig commitment				17,000
Subsequent event
Commitments and contingencies
Non-cancelable termination penalties							6,000,000
Obligation under contractual commitments
Drilling rig commitments							3,000,000
Drilling rig commitments
Commitments and contingencies
Non-cancelable termination penalties	48,700,000
Obligation under contractual commitments
2015	31,400,000
2016	26,453,000
2017	14,243,000
2018	3,360,000
Total	75,456,000
Gathering, transportation and sales \| North Dakota
Obligation under contractual commitments
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
Available reserves and supplies as a percentage of total proved reserves	74.00%
Gathering, transportation and sales \| North Dakota \| Minimum
Obligation under contractual commitments
Period of commitment for production from the date of first production	5 years
Gathering, transportation and sales \| North Dakota \| Maximum
Obligation under contractual commitments
Period of commitment for production from the date of first production	10 years
Agreement \| Seller \| Tuscaloosa Marine Shale
Obligation under contractual commitments
Net acres exchanged for funding by entity								117,870
Carry Amount paid					62,500,000	126,900,000
Percentage of working interest in the Carry Wells to be received	5.00%
Carry amount remaining in escrow	71,900,000
Agreement \| Seller \| Tuscaloosa Marine Shale \| Maximum
Obligation under contractual commitments
Total								189,400,000

MEZZANINE_EQUITY_Details

MEZZANINE EQUITY (Details) (USD $)	12 Months Ended		0 Months Ended
	Dec. 31, 2014	Dec. 31, 2012	Jun. 16, 2014	Jun. 06, 2014	Sep. 30, 2014
	Dec. 31, 2014	Dec. 31, 2012	Jun. 16, 2014	Jun. 06, 2014	item
Mezzanine equity
Preferred dividends on redeemable noncontrolling interest	($3,518,000)
HK TMS, LLC preferred stock issued	110,051,000
Tranche rights	4,516,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Dividends paid in-kind		88,445,000
Preferred Stock
Mezzanine equity
Issuance of HK TMS, LLC preferred stock (in shares)	150,000
Dividends paid in-kind (in shares)	3,025
Balances at end of period (in shares)	153,025
Increase (Decrease) in Temporary Equity [Roll Forward]
Balances at beginning of period	117,166,000
Issuance of HK TMS, LLC preferred stock	110,051,000
Offering costs	-2,543,000
Dividends paid in-kind	3,025,000
HK TMS deemed dividends	6,633,000
Balances at end of period	117,166,000
HK TMS
Mezzanine equity
Dividend rate (as a percent)	8.00%
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 \| Maximum
Mezzanine equity
Restriction percentage on transfer out of the maximum net acres	20.00%
Restriction percentage on transfer of assets	20.00%
HK TMS \| Preferred Stock
Mezzanine equity
Proceeds contributed by parent	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
Proceeds received on sale of preferred shares	150,000,000		150,000,000	150,000,000
Dividend rate (as a percent)			8.00%
Preferred dividends on redeemable noncontrolling interest	3,500,000
PIK exit fee per share	$5
Total PIK exit fees incurred	800,000
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 issued	110,051,000
Tranche rights	4,516,000
Overriding royalty interest	34,576,000
Embedded derivative	857,000
Total initial investment proceeds	150,000,000		150,000,000	150,000,000
Issuance of HK TMS, LLC preferred stock (in shares)	150,000
Dividends paid in-kind (in shares)	3,025
HK TMS \| Apollo \| Preferred Stock \| Maximum
Mezzanine equity
Additional preferred shares available for issuance			250,000
Consideration upon issuance of additional preferred shares			$250,000,000

MEZZANINE_EQUITY_Details_2

MEZZANINE EQUITY (Details 2) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Tranche rights
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	$4,516
Change in fair value	-7,150
Ending Balance	-2,634
Embedded Derivative Financial Instruments [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance	857
Change in fair value	5,106
Ending Balance	$5,963

STOCKHOLDERS_EQUITY_Details

STOCKHOLDERS' EQUITY (Details) (USD $)	0 Months Ended	12 Months Ended			0 Months Ended	1 Months Ended		0 Months Ended		3 Months Ended		0 Months Ended							1 Months Ended	0 Months Ended
STOCKHOLDERS' EQUITY (Details) (USD $)	Apr. 17, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 06, 2012	Dec. 31, 2012	Feb. 29, 2012	Mar. 05, 2012	Feb. 29, 2012	Jun. 30, 2012	Mar. 31, 2012	Aug. 13, 2013	Feb. 08, 2012	Jun. 18, 2013	Dec. 06, 2012	Jan. 17, 2013	Aug. 02, 2012	Aug. 02, 2012	Aug. 31, 2012	Aug. 03, 2012	Aug. 03, 2012	Jan. 18, 2013	22-May-14	Feb. 28, 2012	Mar. 28, 2012	Jun. 30, 2013	Aug. 30, 2012	Jul. 31, 2012
Preferred stock and stockholders' equity
Proceeds from the offering of common stock			$222,870,000	$452,039,000
Dividend rate (as a percent)		5.75%	5.75%
Preferred stock, par value (in dollars per share)		$0.00	$0.00
Share price (in dollars per share)		$1.78
Gross proceeds from preferred stock offering				311,556,000
Par value of common stock (in dollars per share)		$0.00	$0.00
Conversion price per share (in dollars per share)	$9
Proceeds from the issuance of the Preferred Stock allocated to additional paid-in capital				88,445,000
Retained earnings		-1,223,275,000	-1,506,217,000
Cash dividends paid		19,838,000	10,745,000
Authorized shares of common stock, after amendment of certificate of incorporation		1,340,000,000	670,000,000
Purchase price			222,870,000	569,000,000
Proceeds from issuance of warrants				43,590,000
Gain on expiration of the warrants			1,600,000
Stock Purchase Agreement \| CPPIB \| Private placement
Preferred stock and stockholders' equity
Shares issued					41,900,000
Share price (in dollars per share)					$7.16										$7.16
Par value of common stock (in dollars per share)					$0.00										$0.00
Payment for capital commitment						6,000,000
Purchase price					300,000,000
Net proceeds received					294,000,000
February 2012 Warrants
Preferred stock and stockholders' equity
Payment for capital commitment							600,000
Number of shares of common stock that can be purchased from warrants							36,700,000		36,700,000
Exercise price (in dollars per share)							$4.50		$4.50
Proceeds from issuance of warrants							43,600,000
Preferred stock \| Private placement
Preferred stock and stockholders' equity
Shares issued									4,444.45
Dividend rate (as a percent)									8.00%
Preferred stock, par value (in dollars per share)							$0.00		$0.00
Share price (in dollars per share)								$90,000
Gross proceeds from preferred stock offering								400,000,000
Placement agent fees								14,000,000
Other offering expenses								500,000
Benefit from conversion of stock (in dollars per share)	$1.99
Beneficial conversion feature, amortized upon conversion	88,400,000									87,300,000	1,100,000
Initial amortization period of beneficial conversion feature	71 months
Preferred stock, conversion price (in dollars per share)																						$7.45
Common Stock
Preferred stock and stockholders' equity
Shares issued												43,700,000	73,300,000
Proceeds from the offering of common stock												215,200,000	275,000,000
Authorized shares of common stock, after amendment of certificate of incorporation													336,700,000			670,000,000							1,340,000,000	336,700,000
Payment for capital commitment													4,000,000
Authorized shares of common stock, before amendment of certificate of incorporation													33,300,000
Increase in shares of common stock authorized																333,300,000							670,000,000
Common Stock \| Private placement
Preferred stock and stockholders' equity
Number of shares of common stock to be issued upon conversion																						10,000
Share price (in dollars per share)							$10.99		$10.99
Par value of common stock (in dollars per share)																									$0.00
Preferred stock converted into common stock (in shares)	44,400,000
Conversion price per share (in dollars per share)								$9
Proceeds from conversion of shares		0
Cash dividends paid		0
5.75% Series A Convertible Perpetual Preferred Stock
Preferred stock and stockholders' equity
Shares issued														345,000
Dividend rate (as a percent)		5.75%
Number of shares of common stock to be issued upon conversion		162.4431
Share price (in dollars per share)														$1,000
Conversion price per share (in dollars per share)		$6.16
Liquidation preference per share (in dollars per share)																										$1,000
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
Number of trading days immediately following effective date of fundamental change within which holders will receive specified shares of common stock		30
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
Net proceeds received														335,200,000
Payment of cumulative, declared dividends		19,800,000	9,100,000
Number of shares issued as non-cash dividend		3,300,000	2,000,000
Dividends declared, cash		5,000,000
Cumulative, undeclared dividends		1,700,000	1,700,000
Williston Basin Assets
Preferred stock and stockholders' equity
Preferred stock, par value (in dollars per share)					$0.00										$0.00
Share price (in dollars per share)					$6.39										$6.39
Purchase price															1,484,007,000
Cash purchase price			32,713,000	756,056,000											788,769,000
Williston Basin Assets \| Preferred stock
Preferred stock and stockholders' equity
Preferred stock issued																695,200,000
Williston Basin Assets \| Common Stock
Preferred stock and stockholders' equity
Number of shares of common stock to be issued upon conversion		108,800,000			10,000		10,000		10,000						10,000	108,800,000
Preferred stock, conversion price (in dollars per share)																$7.45
GeoResources
Preferred stock and stockholders' equity
Purchase price																		854,412,000
Cash purchase price				579,497,000													579,497,000
GeoResources \| GeoResources Warrants
Preferred stock and stockholders' equity
Warrants outstanding																											600,000
GeoResources \| August 2012 Warrants
Preferred stock and stockholders' equity
Number of shares of common stock that can be purchased from warrants																											1
Exercise price (in dollars per share)																											8.4
Warrants outstanding																											1,200,000
Cash Portion (in dollars per share)																											20
Cash exercise price per $1.00 received																											0.82
GeoResources \| Common Stock
Preferred stock and stockholders' equity
Shares issued																			51,300,000
Share price (in dollars per share)																	$6.26	$6.26
Shares issued																		51,344,000	51,300,000
East Texas Assets
Preferred stock and stockholders' equity
Share price (in dollars per share)																	$6.26	$6.26										$6.40
Purchase price																			426,762,000
Cash purchase price				$296,139,000															296,139,000
Shares issued																	16,460,000			4,310,000	20,770,000
East Texas Assets \| Common Stock
Preferred stock and stockholders' equity
Shares issued																			20,800,000
Shares issued																			20,800,000

STOCKHOLDERS_EQUITY_Details_2

STOCKHOLDERS' EQUITY (Details 2) (USD $)	12 Months Ended			1 Months Ended		0 Months Ended
STOCKHOLDERS' EQUITY (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 29, 2012	31-May-11	17-May-12	Dec. 31, 2011	23-May-13	Feb. 08, 2012	3-May-10	8-May-08	8-May-06
Performance Share Units
Granted (in shares)	1,604,140
Number of Shares
Granted (in shares)	1,604,140
Unvested outstanding shares at the end of the period (in shares)	1,604,140
Weighted Average Grant Date fair Value Per Share
Granted (in dollars per share)	$3.08
Unvested outstanding shares at the end of the period (in dollars per share)	$3.08
General and administrative
Stock-based compensation
Compensation expense recorded	$18,700,000	$17,100,000	$6,700,000
Performance share units (PSU)
Stock-based compensation
Weighted average remaining vesting period	2 years 2 months 12 days
Performance Share Units
Weighted average grant date fair value of the shares granted	4,900,000
Weighted average grant date fair value of the shares granted for other than options	3,600,000
Performance share units (PSU) \| Common Stock
Performance Share Units
Number of trading days considered to measure the average of adjusted closing price of common stock	60 days
Performance share units (PSU) \| Common Stock \| $4.00
Performance Share Units
Entitlement percentage of shares underlining awards, to be received and vested	50.00%
Performance share units (PSU) \| Common Stock \| $7.00
Performance Share Units
Average market price (in dollars per share)	$7
Performance share units (PSU) \| Common Stock \| $10.00
Performance Share Units
Average market price (in dollars per share)	$10
Entitlement percentage of shares underlining awards, to be received and vested	200.00%
Performance share units (PSU) \| Common Stock \| $5.50
Performance Share Units
Average market price (in dollars per share)	$5.50
Entitlement percentage of shares underlining awards, to be received and vested	75.00%
Performance share units (PSU) \| Common Stock \| $8.50
Performance Share Units
Average market price (in dollars per share)	$8.50
Entitlement percentage of shares underlining awards, to be received and vested	150.00%
Performance share units (PSU) \| Common Stock \| Senior management
Number of Shares
Granted other than options (in shares)	1,600,000
Performance share units (PSU) \| Minimum \| Common Stock \| $4.00
Performance Share Units
Average market price (in dollars per share)	$4
Stock options
Stock-based compensation
Weighted average exercise price (in dollars per share)	$2.94	$7.07	$7.24
Vesting period	3 years
Percentage of awards vesting on the annual anniversary date of the grant	33.33%
Expiration term	10 years
Unrecognized compensation expense	12,400,000	13,700,000
Weighted average remaining vesting period	1 year 2 months 12 days	1 year 2 months 12 days
Performance Share Units
Weighted average grant date fair value of the shares granted	13,200,000	16,400,000	16,500,000
Number of Shares
Outstanding at the beginning of the period (in shares)	10,416,245	4,811,833
Granted (in shares)	9,683,822	6,171,000	4,847,333
Forfeited (in shares)	-1,176,357	-566,588	-35,500
Outstanding at the end of the period (in shares)	18,923,710	10,416,245	4,811,833
Weighted Average Exercise Price Per Share
Outstanding at the beginning of the period (in dollars per share)	$7.15	$7.22
Granted (in dollars per share)	$2.94	$7.07	$7.24
Forfeited (in dollars per share)	$6.21	$6.80	$9.35
Outstanding at the end of the period (in dollars per share)	$5.05	$7.15	$7.22
Aggregate Intrinsic Value
Outstanding at the end of the period	724,000		2,944,000
Weighted Average Remaining Contractual Term
Outstanding at the end of the period	8 years 8 months 12 days	9 years	9 years 8 months 12 days
Exercised	0	0	0
Options exercisable	0
Restricted Stock
Stock-based compensation
Weighted average remaining vesting period	1 year 6 months	1 year 2 months 12 days
Performance Share Units
Granted (in shares)	9,388,028	3,266,450	312,900
Unrecognized compensation expense	18,400,000	10,000,000
Compensation expense related to accelerated vesting				2,600,000
Restricted stock
Weighted average grant date fair value of the shares granted	23,700,000	22,500,000	2,800,000
Number of Shares
Unvested outstanding shares at the beginning of the period (in shares)	2,643,394	267,900	837,487
Granted (in shares)	9,388,028	3,266,450	312,900
Vested (in shares)	-1,231,475	-543,563	-334,838
Accelerated vesting (in shares)		-142,610	-547,649
Forfeited (in shares)	-455,488	-204,783
Unvested outstanding shares at the end of the period (in shares)	10,344,459	2,643,394	267,900
Weighted Average Grant Date fair Value Per Share
Unvested outstanding shares at the beginning of the period (in dollars per share)	$7.16	$8.72	$5.92
Granted (in dollars per share)	$2.52	$6.90	$8.91
Vested (in dollars per share)	$6.81	$6.43	$5.44
Accelerated vesting (in dollars per share)		$7.10	$7.43
Forfeited (in dollars per share)	$4.61	$6.96
Unvested outstanding shares at the end of the period (in dollars per share)	$3.11	$7.16	$8.72
Aggregate Intrinsic Value
Aggregate Intrinsic Value (in dollars)	18,413,000	10,204,000	1,854,000				7,864,000
Additional Disclosures
Total fair value of shares vested	5,100,000	3,500,000	9,200,000
Restricted Stock \| Employee
Stock-based compensation
Vesting period	3 years
Performance Share Units
Portion of award vesting (as a percent)	33.33%
Restricted Stock \| Non-employee director
Stock-based compensation
Vesting period	6 months
Stock Appreciation Rights
Stock-based compensation
Vesting period	4 years
Expiration term	10 years
Performance Share Units
Granted (in shares)					500,000
Compensation expense related to accelerated vesting		2,200,000
Number of Shares
Unvested outstanding shares at the beginning of the period (in shares)			418,333
Granted (in shares)					500,000
Vested (in shares)			-84,418
Accelerated vesting (in shares)			-333,915
Weighted Average Grant Date fair Value Per Share
Unvested outstanding shares at the beginning of the period (in dollars per share)			$5.19
Granted (in dollars per share)					$5.19
Vested (in dollars per share)			$5.19
Accelerated vesting (in dollars per share)			$5.19
Stock appreciation rights
Unrealized losses recorded, the reversal of which partially offsets realized compensation expense			800,000
Stock Appreciation Rights \| General and administrative
Stock-based compensation
Compensation expense recorded			800,000
Stock Appreciation Rights \| Restructuring costs
Stock-based compensation
Compensation expense recorded			$100,000
Plan
Stock-based compensation
Term of effectiveness of plan from the date of approval						10 years
Plan \| Common Stock
Stock-based compensation
Shares issuable under the plan						11,500,000		41,500,000	3,700,000	2,500,000	2,000,000	800,000
Maximum number of shares that remained reserved for issuance under the Plan	5,100,000	25,700,000

STOCKHOLDERS_EQUITY_Details_3

STOCKHOLDERS' EQUITY (Details 3) (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014
Outstanding
Aggregate intrinsic value of vested and exercisable options	$0
Aggregate intrinsic value of vested options	$0
Share price (in dollars per share)	$1.78
$1.57
Outstanding
Number	3,448,100
Weighted Average Exercise Price Per Share (in dollars per share)	$1.57
Weighted Average Remaining Contractual Life	9 years 10 months 24 days
$3.04 - $3.67
Share-based compensation
Range of grant prices per share, low end of the range (in dollars per share)	$3.04
Range of grant prices per share, high end of the range (in dollars per share)	$3.67
Outstanding
Number	5,799,767
Weighted Average Exercise Price Per Share (in dollars per share)	$3.67
Weighted Average Remaining Contractual Life	9 years 2 months 12 days
$3.96 - $ 5.48
Share-based compensation
Range of grant prices per share, low end of the range (in dollars per share)	$3.96
Range of grant prices per share, high end of the range (in dollars per share)	$5.48
Outstanding
Number	1,711,708
Weighted Average Exercise Price Per Share (in dollars per share)	$5.43
Weighted Average Remaining Contractual Life	7 years 10 months 24 days
$5.51 - $7.09
Share-based compensation
Range of grant prices per share, low end of the range (in dollars per share)	$5.51
Range of grant prices per share, high end of the range (in dollars per share)	$7.09
Outstanding
Number	1,385,002
Weighted Average Exercise Price Per Share (in dollars per share)	$6.60
Weighted Average Remaining Contractual Life	7 years 10 months 24 days
$7.10
Outstanding
Number	4,850,267
Weighted Average Exercise Price Per Share (in dollars per share)	$7.10
Weighted Average Remaining Contractual Life	8 years 2 months 12 days
$7.16 - $11.55
Share-based compensation
Range of grant prices per share, low end of the range (in dollars per share)	$7.16
Range of grant prices per share, high end of the range (in dollars per share)	$11.55
Outstanding
Number	1,728,866
Weighted Average Exercise Price Per Share (in dollars per share)	$9.31
Weighted Average Remaining Contractual Life	7 years 6 months

STOCKHOLDERS_EQUITY_Details_4

STOCKHOLDERS' EQUITY (Details 4) (USD $)	12 Months Ended
STOCKHOLDERS' EQUITY (Details 4) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Performance share units (PSU)
Stock-based compensation
Weighted average value per unit granted during the period (in dollars per share)	$3.08
Assumptions:
Stock price volatility (as a percent)	48.00%
Risk free rate of return other than options (as a percent)	0.68%
Expected term	3 years
Stock options
Stock-based compensation
Weighted average grant date fair value of grants	$1.36	$2.65	$3.40
Assumptions:
Stock price volatility (as a percent)	51.48%	57.31%	61.84%
Risk free rate of return (as a percent)	1.56%	0.89%	0.54%
Expected term	5 years	5 years	4 years
Stock Appreciation Rights
Assumptions:
Dividend yield on the Company's stock (as a percent)	0.00%

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	12 Months Ended
INCOME TAXES (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current:
Federal	$1,295,000	($1,523,000)
State	-219,000		121,000
Total	1,076,000	-1,523,000	121,000
Deferred:
Federal	2,653,000	145,098,000	12,265,000
State	-2,653,000	14,141,000	795,000
Total		159,239,000	13,060,000
Total income tax benefit (provision)	1,076,000	157,716,000	13,181,000
Differences between the actual income tax benefit (provision) and the expected income tax benefit (provision)
Federal statutory rate (as a percent)	35.00%	35.00%	35.00%
Expected tax benefit (provision)	-110,208,000	483,132,000	23,485,000
State income tax expense, net of federal benefit	-4,615,000	15,904,000	455,000
Goodwill impairment		-80,106,000
Merger costs			-3,580,000
Debt related costs	-5,467,000	-2,465,000	-3,239,000
Increase (reduction) in deferred tax asset	19,233,000	4,616,000	-3,218,000
Change in valuation allowance and related items	102,068,000	-262,847,000
Other	65,000	-518,000	-722,000
Total income tax benefit (provision)	1,076,000	157,716,000	13,181,000
Goodwill impairment included in state income tax expense, net of federal benefit		4,400,000
Deferred current income tax assets:
Unrealized hedging transactions		6,028,000
Other	245,000	551,000
Gross deferred current income tax assets	245,000	6,579,000
Valuation allowance	-57,000	-2,953,000
Deferred current income tax assets	188,000	3,626,000
Deferred current income tax liabilities:
Unrealized hedging transactions	-132,939,000
Change in accounting method	-4,075,000	-12,100,000
Deferred current income tax liabilities	-137,014,000	-12,100,000
Net current deferred income tax assets (liabilities)	-136,826,000	-8,474,000
Deferred noncurrent income tax assets:
Net operating loss carry-forwards	601,566,000	551,567,000
Share-based compensation expense	15,035,000	8,628,000
Asset retirement obligations	14,089,000	14,454,000
Investment in unconsolidated affiliates	62,340,000
Other	9,591,000	9,439,000
Gross deferred noncurrent income tax assets	702,621,000	584,088,000
Valuation allowance	-163,007,000	-262,179,000
Deferred noncurrent income tax assets	539,614,000	321,909,000
Deferred noncurrent income tax liabilities:
Book-tax differences in property basis	-345,189,000	-286,155,000
Change in accounting method	-4,075,000	-24,201,000
Unrealized hedging transactions	-53,524,000	-1,326,000
Investment in unconsolidated entities		-1,753,000
Deferred noncurrent income tax liabilities	-402,788,000	-313,435,000
Net noncurrent deferred income tax assets (liabilities)	136,826,000	8,474,000
Period of cumulative book loss that limits ability to consider other subjective evidence for growth	3 years
Income tax expense or benefit	$1,076,000	$157,716,000	$13,181,000

INCOME_TAXES_Details_2

INCOME TAXES (Details 2) (USD $)	12 Months Ended
INCOME TAXES (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income taxes
Unrecognized tax benefits	$0	$0	$0
Interest and penalties	0	0	0
Period of Cumulative Book Loss that Limits Ability to Consider other Subjective Evidence for Growth	3 years
Valuation allowance	163,100,000
Valuation allowance, current	57,000	2,953,000
Decrease in valuation allowance	102,000,000
Minimum
Income taxes
Allowable carryforward period	5 years
Maximum
Income taxes
Allowable carryforward period	20 years
Federal
Income taxes
Unrecognized tax benefits	4,200,000
Net operating loss carryforwards	1,600,000,000
State
Income taxes
Net operating loss carryforwards	$26,900,000

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Basic:
Net income (loss) available to common stockholders	$282,942	($1,233,407)	($142,330)
Weighted average basic number of common shares outstanding	415,772,000	379,621,000	156,494,000
Basic net income (loss) per common share (in dollars per share)	$0.68	($3.25)	($0.91)
Diluted:
Net income (loss) available to common stockholders	282,942	-1,233,407	-142,330
Net income from assumed conversions	35,140
Net income (loss) available to common stockholders after assumed conversions	$318,082	($1,233,407)	($142,330)
Weighted average basic number of common shares outstanding	415,772,000	379,621,000	156,494,000
Common stock equivalent shares representing shares issuable upon exercise of stock options	377
Common stock equivalent shares representing shares included upon vesting of restricted shares	1,549
Common stock equivalent shares representing shares included upon vesting of performance share units	362
Common stock equivalent shares representing shares issuable upon conversion of 2017 Notes	64,371
Weighted average diluted number of common shares outstanding	542,394,000	379,621,000	156,494,000
Diluted net income (loss) per common share (in dollars per share)	$0.59	($3.25)	($0.91)
Common stock equivalents of stock options, restricted shares, 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)	30,900,000	149,500,000	215,800,000
February 2012 Warrants
Diluted:
Common stock equivalent shares representing shares issuable upon exercise of warrants	3,920
5.75% Series A Convertible Perpetual Preferred Stock
Diluted:
Common stock equivalent shares representing shares issuable upon conversion of preferred stock	56,043

ADDITIONAL_FINANCIAL_STATEMENT2

ADDITIONAL FINANCIAL STATEMENT INFORMATION (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Accounts receivable:
Oil, natural gas and natural gas liquids revenues	$104,370	$129,355
Joint interest accounts	140,352	170,907
Accrued settlements on derivative contracts	25,929
Affiliated partnership	661	500
Other	5,247	11,756
Total	276,559	312,518
Prepaids and other:
Prepaids	6,030	5,636
Income tax receivable	2,991	10,404
Other	58	58
Total	9,079	16,098
Accounts payable and accrued liabilities:
Trade payables	60,512	87,661
Accrued oil and natural gas capital costs	308,604	292,472
Revenues and royalties payable	100,498	124,222
Accrued interest expense	82,942	82,570
Accrued employee compensation	3,171	2,272
Accrued lease operating expenses	29,681	21,469
Drilling advances from partners	21,220	24,882
Affiliated partnerships	762	679
Other	360	362
Total	$607,750	$636,589

CONDENSED_CONSOLIDATING_FINANC2

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Oil, natural gas and natural gas liquids sales:
Oil	$1,071,319,000	$944,535,000	$223,056,000
Natural gas	37,101,000	27,319,000	12,735,000
Natural gas liquids	37,460,000	24,564,000	11,180,000
Total oil, natural gas and natural gas liquids sales	1,145,880,000	996,418,000	246,971,000
Other	2,381,000	3,088,000	1,351,000
Total operating revenues	1,148,261,000	999,506,000	248,322,000
Production:
Lease operating	130,239,000	139,182,000	49,859,000
Workover and other	16,193,000	6,268,000	4,429,000
Taxes other than income	106,331,000	88,622,000	19,253,000
Gathering and other	26,719,000	11,745,000	459,000
Restructuring	987,000	4,471,000	2,406,000
General and administrative	116,532,000	132,410,000	111,349,000
Depletion, depreciation and accretion	534,421,000	463,655,000	90,284,000
Full cost ceiling impairment	239,668,000	1,147,771,000
Other operating property and equipment impairment	35,558,000	67,454,000
Total operating expenses	1,206,648,000	2,290,453,000	278,039,000
Income (loss) from operations	-58,387,000	-1,290,947,000	-29,717,000
Other income (expenses):
Net gain (loss) on derivative contracts	518,956,000	-31,233,000	-6,126,000
Interest expense and other, net	-145,689,000	-58,198,000	-31,223,000
Total other income (expenses)	373,267,000	-89,431,000	-37,349,000
Income (loss) before income taxes	314,880,000	-1,380,378,000	-67,066,000
Income tax benefit (provision)	1,076,000	157,716,000	13,181,000
Net income (loss)	315,956,000	-1,222,662,000	-53,885,000
Series A preferred dividends	-19,838,000	-10,745,000
Preferred dividends and accretion on redeemable noncontrolling interest	-13,176,000
Net income (loss) available to common stockholders	282,942,000	-1,233,407,000	-142,330,000
Parent Company
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
Noncontrolling Interest, Ownership Percentage by Parent	100.00%
Reportable legal entities \| Parent Company
Production:
Taxes other than income	634,000
General and administrative	72,168,000
Depletion, depreciation and accretion	2,646,000
Total operating expenses	75,448,000
Income (loss) from operations	-75,448,000
Other income (expenses):
Interest expense and other, net	-317,556,000
Total other income (expenses)	-317,556,000
Income (loss) before income taxes	-393,004,000
Equity in earnings of subsidiary, net of tax	695,784,000
Net income (loss)	302,780,000
Series A preferred dividends	-19,838,000
Net income (loss) available to common stockholders	282,942,000
Reportable legal entities \| Guarantor Subsidiaries
Oil, natural gas and natural gas liquids sales:
Oil	1,055,460,000
Natural gas	37,101,000
Natural gas liquids	37,460,000
Total oil, natural gas and natural gas liquids sales	1,130,021,000
Other	2,381,000
Total operating revenues	1,132,402,000
Production:
Lease operating	129,510,000
Workover and other	16,193,000
Taxes other than income	105,372,000
Gathering and other	26,719,000
Restructuring	987,000
General and administrative	43,611,000
Depletion, depreciation and accretion	520,705,000
Full cost ceiling impairment	95,359,000
Other operating property and equipment impairment	35,558,000
Total operating expenses	974,014,000
Income (loss) from operations	158,388,000
Other income (expenses):
Net gain (loss) on derivative contracts	518,956,000
Interest expense and other, net	169,752,000
Total other income (expenses)	688,708,000
Income (loss) before income taxes	847,096,000
Income tax benefit (provision)	-31,960,000
Equity in earnings of subsidiary, net of tax	-119,352,000
Net income (loss)	695,784,000
Net income (loss) available to common stockholders	695,784,000
Reportable legal entities \| Non-Guarantor Subsidiaries
Oil, natural gas and natural gas liquids sales:
Oil	15,859,000
Total oil, natural gas and natural gas liquids sales	15,859,000
Total operating revenues	15,859,000
Production:
Lease operating	729,000
Taxes other than income	325,000
General and administrative	4,850,000
Depletion, depreciation and accretion	20,130,000
Full cost ceiling impairment	139,599,000
Total operating expenses	165,633,000
Income (loss) from operations	-149,774,000
Other income (expenses):
Interest expense and other, net	2,115,000
Total other income (expenses)	2,115,000
Income (loss) before income taxes	-147,659,000
Income tax benefit (provision)	-1,417,000
Net income (loss)	-149,076,000
Preferred dividends and accretion on redeemable noncontrolling interest	-13,176,000
Net income (loss) available to common stockholders	-162,252,000
Eliminations
Production:
General and administrative	-4,097,000
Depletion, depreciation and accretion	-9,060,000
Full cost ceiling impairment	4,710,000
Total operating expenses	-8,447,000
Income (loss) from operations	8,447,000
Other income (expenses):
Income (loss) before income taxes	8,447,000
Income tax benefit (provision)	34,453,000
Equity in earnings of subsidiary, net of tax	-576,432,000
Net income (loss)	-533,532,000
Net income (loss) available to common stockholders	($533,532,000)

CONDENSED_CONSOLIDATING_FINANC3

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Current assets:
Cash	$43,713	$2,834
Accounts receivable	276,559	312,518
Receivables from derivative contracts	352,530	2,028
Current portion of deferred income taxes	-136,826	-8,474
Restricted cash	16,131
Inventory	4,693	5,148
Prepaids and other	9,079	16,098
Total current assets	702,705	338,626
Deferred Tax Assets, Net, Current	-136,826	-8,474
Oil and natural gas properties (full cost method):
Evaluated	6,390,820	4,960,467
Unevaluated	1,829,786	2,028,044
Gross oil and natural gas properties	8,220,606	6,988,511
Less - accumulated depletion	-2,953,038	-2,189,515
Net oil and natural gas properties	5,267,568	4,798,996
Other operating property and equipment:
Gas gathering and other operating assets	126,804	125,837
Less - accumulated depreciation	-14,798	-8,461
Net other operating property and equipment	112,006	117,376
Other noncurrent assets:
Receivables from derivative contracts	151,324	22,734
Debt issuance costs, net	55,904	64,308
Deferred income taxes	136,826	8,474
Equity in oil and natural gas partnership	4,309	4,463
Funds in escrow and other	3,833	1,514
Total assets	6,434,475	5,356,491
Current liabilities:
Accounts payable and accrued liabilities	607,750	636,589
Liabilities from derivative contracts		17,859
Asset retirement obligations	106	71
Current portion of deferred income taxes	136,826	8,474
Total current liabilities	744,682	664,382
Long -term debt	3,746,736	3,183,823
Other noncurrent liabilities:
Liabilities from derivative contracts	9,387	19,333
Asset retirement obligations	38,371	39,186
Other	5,964	2,157
Commitments and contingencies (Note 10)
Mezzanine equity:
Redeemable noncontrolling interest	117,166
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 December 31, 2014 and 2013
Common stock: 1,340,000,000 and 670,000,000 shares of $0.0001 par value authorized; 427,808,306 and 415,729,962 shares issued and outstanding at December 31, 2014 and 2013, respectively	42	41
Additional paid-in capital	2,995,402	2,953,786
Retained Earnings (Accumulated Deficit)	-1,223,275	-1,506,217
Total stockholders' equity	1,772,169	1,447,610	1,397,982	1,680
Total liabilities and stockholders' equity	6,434,475	5,356,491
Reportable legal entities \| Parent Company
Current assets:
Prepaids and other	372
Total current assets	372
Other operating property and equipment:
Gas gathering and other operating assets	14,523
Less - accumulated depreciation	-6,522
Net other operating property and equipment	8,001
Other noncurrent assets:
Debt issuance costs, net	55,904
Deferred income taxes	-54
Intercompany notes and accounts receivable	4,891,427
Investment in subsidiary	803,786
Funds in escrow and other	515
Total assets	5,759,951
Current liabilities:
Current portion of deferred income taxes	1,794
Total current liabilities	1,794
Long -term debt	3,746,736
Other noncurrent liabilities:
Intercompany notes and accounts payable	239,250
Other	2
Commitments and contingencies (Note 10)
Stockholders' equity:
Common stock: 1,340,000,000 and 670,000,000 shares of $0.0001 par value authorized; 427,808,306 and 415,729,962 shares issued and outstanding at December 31, 2014 and 2013, respectively	42
Additional paid-in capital	2,995,402
Retained Earnings (Accumulated Deficit)	-1,223,275
Total stockholders' equity	1,772,169
Total liabilities and stockholders' equity	5,759,951
Reportable legal entities \| Guarantor Subsidiaries
Current assets:
Cash	15
Accounts receivable	262,543
Receivables from derivative contracts	352,530
Inventory	4,619
Prepaids and other	8,707
Total current assets	628,414
Oil and natural gas properties (full cost method):
Evaluated	6,169,553
Unevaluated	1,558,412
Gross oil and natural gas properties	7,727,965
Less - accumulated depletion	-2,797,606
Net oil and natural gas properties	4,930,359
Other operating property and equipment:
Gas gathering and other operating assets	112,103
Less - accumulated depreciation	-8,259
Net other operating property and equipment	103,844
Other noncurrent assets:
Receivables from derivative contracts	151,324
Deferred income taxes	136,880
Intercompany notes and accounts receivable	239,250
Investment in subsidiary	274,553
Equity in oil and natural gas partnership	4,309
Funds in escrow and other	684
Total assets	6,469,617
Current liabilities:
Accounts payable and accrued liabilities	592,340
Asset retirement obligations	106
Current portion of deferred income taxes	135,032
Total current liabilities	727,478
Other noncurrent liabilities:
Liabilities from derivative contracts	9,387
Asset retirement obligations	37,538
Intercompany notes and accounts payable	4,891,427
Other	1
Commitments and contingencies (Note 10)
Stockholders' equity:
Retained Earnings (Accumulated Deficit)	803,786
Total stockholders' equity	803,786
Total liabilities and stockholders' equity	6,469,617
Reportable legal entities \| Non-Guarantor Subsidiaries
Current assets:
Cash	43,698
Accounts receivable	14,858
Restricted cash	16,131
Inventory	74
Total current assets	74,761
Oil and natural gas properties (full cost method):
Evaluated	225,617
Unevaluated	271,374
Gross oil and natural gas properties	496,991
Less - accumulated depletion	-159,782
Net oil and natural gas properties	337,209
Other operating property and equipment:
Gas gathering and other operating assets	178
Less - accumulated depreciation	-17
Net other operating property and equipment	161
Other noncurrent assets:
Funds in escrow and other	2,634
Total assets	414,765
Current liabilities:
Accounts payable and accrued liabilities	50,706
Total current liabilities	50,706
Other noncurrent liabilities:
Asset retirement obligations	833
Other	5,961
Commitments and contingencies (Note 10)
Mezzanine equity:
Redeemable noncontrolling interest	117,166
Stockholders' equity:
Additional paid-in capital	402,351
Retained Earnings (Accumulated Deficit)	-162,252
Total stockholders' equity	240,099
Total liabilities and stockholders' equity	414,765
Eliminations
Current assets:
Accounts receivable	-842
Total current assets	-842
Oil and natural gas properties (full cost method):
Evaluated	-4,350
Gross oil and natural gas properties	-4,350
Less - accumulated depletion	4,350
Other noncurrent assets:
Intercompany notes and accounts receivable	-5,130,677
Investment in subsidiary	-1,078,339
Total assets	-6,209,858
Current liabilities:
Accounts payable and accrued liabilities	-35,296
Total current liabilities	-35,296
Other noncurrent liabilities:
Intercompany notes and accounts payable	-5,130,677
Commitments and contingencies (Note 10)
Stockholders' equity:
Additional paid-in capital	-402,351
Retained Earnings (Accumulated Deficit)	-641,534
Total stockholders' equity	-1,043,885
Total liabilities and stockholders' equity	($6,209,858)

CONDENSED_CONSOLIDATING_FINANC4

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Details 3) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$667,934	$493,924	$84,360
Cash flows from investing activities:
Oil and natural gas capital expenditures	-1,524,341	-2,380,445	-1,183,295
Proceeds received from sales of oil and natural gas assets	484,184	448,299	21,964
Advance on carried interest	-189,442
Other operating property and equipment capital expenditures	-43,083	-139,295	-38,478
Funds held in escrow and other	1,589	3,455	-965
Net cash provided by (used in) investing activities	-1,271,093	-2,100,699	-2,832,466
Cash flows from financing activities:
Proceeds from borrowings	2,276,000	3,725,000	2,466,608
Repayments of borrowings	-1,719,000	-2,644,400	-655,000
Debt issuance costs	-819	-23,873	-52,878
Series A preferred stock issued	-4,960
HK TMS, LLC preferred stock issued	110,051
Tranche rights	4,516
Preferred dividends on redeemable noncontrolling interest	-3,518
Restricted cash	-16,131
Offering costs and other	-2,101	-17,494	-18,619
Net cash provided by (used in) financing activities	644,038	1,607,103	2,750,563
Net increase (decrease) in cash	40,879	328	2,457
Cash at beginning of period	2,834	2,506	49
Cash at end of period	43,713	2,834	2,506
Eliminations
Cash flows from operating activities:
Net cash provided by (used in) operating activities	-4,350
Cash flows from investing activities:
Oil and natural gas capital expenditures	4,350
Advances to subsidiary	333,261
Net cash provided by (used in) investing activities	337,611
Cash flows from financing activities:
Proceeds from subsidiary	-333,261
Net cash provided by (used in) financing activities	-333,261
Parent Company \| Reportable legal entities
Cash flows from operating activities:
Net cash provided by (used in) operating activities	-368,406
Cash flows from investing activities:
Other operating property and equipment capital expenditures	-1,132
Advances to subsidiary	-179,123
Net cash provided by (used in) investing activities	-180,255
Cash flows from financing activities:
Proceeds from borrowings	2,276,000
Repayments of borrowings	-1,719,000
Debt issuance costs	-819
Series A preferred stock issued	-4,960
Offering costs and other	-2,561
Net cash provided by (used in) financing activities	548,660
Net increase (decrease) in cash	-1
Cash at beginning of period	1
Guarantor Subsidiaries \| Reportable legal entities
Cash flows from operating activities:
Net cash provided by (used in) operating activities	1,029,056
Cash flows from investing activities:
Oil and natural gas capital expenditures	-1,404,492
Proceeds received from sales of oil and natural gas assets	450,407
Advance on carried interest	-62,500
Other operating property and equipment capital expenditures	-41,863
Advances to subsidiary	-154,138
Funds held in escrow and other	1,589
Net cash provided by (used in) investing activities	-1,210,997
Cash flows from financing activities:
Proceeds from subsidiary	179,123
Net cash provided by (used in) financing activities	179,123
Net increase (decrease) in cash	-2,818
Cash at beginning of period	2,833
Cash at end of period	15
Non-Guarantor Subsidiaries \| Reportable legal entities
Cash flows from operating activities:
Net cash provided by (used in) operating activities	11,634
Cash flows from investing activities:
Oil and natural gas capital expenditures	-124,199
Proceeds received from sales of oil and natural gas assets	33,777
Advance on carried interest	-126,942
Other operating property and equipment capital expenditures	-88
Net cash provided by (used in) investing activities	-217,452
Cash flows from financing activities:
Preferred dividends on redeemable noncontrolling interest	-3,518
Restricted cash	-16,131
Proceeds from subsidiary	154,138
Offering costs and other	460
Net cash provided by (used in) financing activities	249,516
Net increase (decrease) in cash	43,698
Cash at end of period	43,698
HK TMS
Cash flows from financing activities:
HK TMS, LLC preferred stock issued	110,051
Tranche rights	4,516
HK TMS \| Non-Guarantor Subsidiaries \| Reportable legal entities
Cash flows from financing activities:
HK TMS, LLC preferred stock issued	110,051
Tranche rights	$4,516

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (Senior revolving credit facility, USD $)	0 Months Ended
In Millions, unless otherwise specified	Mar. 21, 2014	Feb. 08, 2012	Feb. 25, 2015	Sep. 30, 2014
Subsequent event
Borrowing base		1,500		$1,050
Minimum
Subsequent event
Interest coverage ratio	2	2.5
Subsequent event
Subsequent event
Borrowing base			1,050
Subsequent event \| Minimum
Subsequent event
Interest coverage ratio			2