Battalion Oil (BATL) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 06, 2017
Document and Entity Information
Entity Registrant Name	HALCON RESOURCES CORP
Entity Central Index Key	1,282,648
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		149,596,067
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended	8 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 09, 2016	Sep. 30, 2017	Sep. 09, 2016	Sep. 30, 2017
Oil, natural gas and natural gas liquids sales:
Oil	$ 21,260		$ 88,256		$ 319,472
Natural gas	823		2,886		15,051
Natural gas liquids	798		5,448		16,779
Total oil, natural gas and natural gas liquids sales	22,881		96,590		351,302
Other	226		363		1,386
Total operating revenues	23,107		96,953		352,688
Production:
Lease operating	3,791		17,798		58,822
Workover and other	1,565		3,644		22,213
Taxes other than income	2,173		6,846		29,149
Gathering and other	2,637		10,886		34,640
Restructuring			1,275		2,080
General and administrative	16,681		39,195		86,966
Depletion, depreciation and accretion	9,051		35,940		100,788
Full cost ceiling impairment	420,934
(Gain) loss on sale of oil and natural gas properties			(491,830)		(727,520)
Total operating expenses	456,832		(376,246)		(392,862)
Income (loss) from operations	(433,725)		473,199		745,550
Other income (expenses):
Net gain (loss) on derivative contracts	(7,575)		(22,415)		28,139
Interest expense and other, net	(5,479)		(19,330)		(63,808)
Reorganization items	(556)
Gain (loss) on extinguishment of debt			(29,167)		(86,065)
Total other income (expenses)	(13,610)		(70,912)		(121,734)
Income (loss) before income taxes	(447,335)		402,287		623,816
Income tax benefit (provision)	(3,357)		17,000		5,000
Net income (loss)	(450,692)		419,287		628,816
Non-cash preferred dividend					(48,007)
Preferred dividends and accretion on redeemable noncontrolling interest	(791)
Net income (loss) available to common stockholders	$ (451,483)		$ 419,287		$ 580,809
Net income (loss) per share of common stock:
Basic (in dollars per share)	$ (4.96)		$ 2.85		$ 4.56
Diluted (in dollars per share)	$ (4.96)		$ 2.82		$ 4.52
Weighted average common shares outstanding:
Basic (in shares)	91,071		146,944		127,458
Diluted (in shares)	91,071		148,490		128,410
Predecessor
Oil, natural gas and natural gas liquids sales:
Oil		$ 74,002		$ 248,064
Natural gas		2,610		9,511
Natural gas liquids		2,488		7,929
Total oil, natural gas and natural gas liquids sales		79,100		265,504
Other		247		1,339
Total operating revenues		79,347		266,843
Production:
Lease operating		12,473		50,032
Workover and other		6,801		22,507
Taxes other than income		7,442		24,453
Gathering and other		7,376		29,279
Restructuring		95		5,168
General and administrative		17,317		83,641
Depletion, depreciation and accretion		25,618		120,555
Full cost ceiling impairment				754,769
Other operating property and equipment impairment				28,056
Total operating expenses		77,122		1,118,460
Income (loss) from operations		2,225		(851,617)
Other income (expenses):
Net gain (loss) on derivative contracts		17,783		(17,998)
Interest expense and other, net		(16,136)		(122,249)
Reorganization items		913,722		913,722
Gain (loss) on extinguishment of debt				81,434
Total other income (expenses)		915,369		854,909
Income (loss) before income taxes		917,594		3,292
Income tax benefit (provision)		8,666		8,666
Net income (loss)		926,260		11,958
Series A preferred dividends		(2,451)		(8,847)
Preferred dividends and accretion on redeemable noncontrolling interest		(7,388)		(35,905)
Net income (loss) available to common stockholders	$ (451,483)	$ 916,421		$ (32,794)
Net income (loss) per share of common stock:
Basic (in dollars per share)	$ (4.96)	$ 7.58		$ (0.27)
Diluted (in dollars per share)	$ (4.96)	$ 6.06		$ (0.27)
Weighted average common shares outstanding:
Basic (in shares)	91,071	120,905		120,513
Diluted (in shares)	91,071	151,876		120,513

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 10, 2016	Sep. 09, 2016
Current assets:
Cash	$ 989,347	$ 24		$ 13,943
Accounts receivable	108,753	147,762		116,859
Receivables from derivative contracts	5,166	5,923		97,648
Prepaids and other	12,171	6,940		7,629
Total current assets	1,115,437	160,649		253,243
Oil and natural gas properties (full cost method):
Evaluated	782,695	1,269,034		1,214,129
Unevaluated	757,401	316,439		332,115
Gross oil and natural gas properties	1,540,096	1,585,473		1,546,244
Less - accumulated depletion	(561,989)	(465,849)
Net oil and natural gas properties	978,107	1,119,624		1,546,244
Other operating property and equipment:
Other operating property and equipment	68,195	38,617		38,071
Less - accumulated depreciation	(2,967)	(1,107)
Net other operating property and equipment	65,228	37,510		38,071
Other noncurrent assets:
Receivables from derivative contracts	1,444			4,431
Funds in escrow and other	2,408	1,887		1,637
Total assets	2,162,624	1,319,670		1,843,626
Current liabilities:
Accounts payable and accrued liabilities	172,012	186,184		173,688
Liabilities from derivative contracts	3,279	16,434		102
Current portion of long-term debt, net	408,879
Other	8	4,935		4,849
Total current liabilities	584,178	207,553		178,639
Other noncurrent liabilities:
Long-term debt, net	408,879	964,653		1,016,160
Liabilities from derivative contracts	2,175	486		525
Asset retirement obligations	5,116	31,985		32,156
Other	288	2,305		3,953
Commitments and contingencies (Note 10)
Stockholders' equity:
Common stock: 1,000,000,000 shares of $0.0001 par value authorized; 149,665,527 and 92,991,183 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	15	9		9
Additional paid-in capital	1,013,141	592,663		571,114
Retained earnings (accumulated deficit)	148,832	(479,984)
Total stockholders' equity	1,161,988	112,688	$ 571,123	571,123
Total liabilities and stockholders' equity	$ 2,162,624	$ 1,319,670		$ 1,843,626

CONDENSED CONSOLIDATED BALANCE4

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Stockholders' equity:
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares issued	149,665,527	92,991,183
Common stock, shares outstanding	149,665,527	92,991,183

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Total
Balances (Predecessor) at Dec. 31, 2015		$ 12	$ 3,283,097	$ (3,230,695)	$ 52,414
Balances (in shares) (Predecessor) at Dec. 31, 2015	245	122,524
Increase (Decrease) in Stockholders' Equity
Net income (loss) | Predecessor				11,958	11,958
Conversion of preferred stock (in shares) | Predecessor	(23)	724
Preferred dividends of redeemable noncontrolling interest | Predecessor				(9,329)	(9,329)
Accretion of redeemable noncontrolling interest | Predecessor				(26,576)	(26,576)
Fair value of equity issued to Predecessor common stockholders | Predecessor			(22,176)		(22,176)
Cash payment to Preferred Holders | Predecessor			(11,100)		(11,100)
Reverse stock split rounding (in shares) | Predecessor		5
Offering costs | Predecessor			(10)		(10)
Long-term incentive plan forfeitures (in shares) | Predecessor		(517)
Reduction in shares to cover individuals' tax withholding | Predecessor			(176)		(176)
Reduction in shares to cover individuals' tax withholding (in shares) | Predecessor		(498)
Share-based compensation | Predecessor			4,995		4,995
Balances (Predecessor) at Sep. 09, 2016		$ 12	3,254,630	(3,254,642)	(933,139)
Balances at Sep. 09, 2016					571,123
Balances (in shares) (Predecessor) at Sep. 09, 2016	222	122,238
Increase (Decrease) in Stockholders' Equity
Cancellation of Predecessor equity | Predecessor		$ (12)	(3,254,630)	3,254,642
Cancellation of Predecessor equity (in shares) | Predecessor	(222)	(122,238)
Issuance of Successor common stock and warrants		$ 9	571,114		571,123
Issuance of Successor common stock and warrants (in shares)		90,000
Balances at Sep. 10, 2016		$ 9	571,114		571,123
Balances (in shares) at Sep. 10, 2016		90,000
Balances (Predecessor) at Sep. 09, 2016		$ 12	3,254,630	(3,254,642)	(933,139)
Balances at Sep. 09, 2016					571,123
Balances (in shares) (Predecessor) at Sep. 09, 2016	222	122,238
Increase (Decrease) in Stockholders' Equity
Net income (loss)				(479,193)	(479,193)
Preferred dividends of redeemable noncontrolling interest				(791)	(791)
Long-term incentive plan grants (in shares)		2,991
Share-based compensation			21,549		21,549
Balances at Dec. 31, 2016		$ 9	592,663	(479,984)	112,688
Balances (in shares) at Dec. 31, 2016		92,991
Increase (Decrease) in Stockholders' Equity
Net income (loss)				628,816	628,816
Sale of convertible preferred stock			352,048		352,048
Sale of convertible preferred stock (in shares)	6
Preferred beneficial conversion feature			48,007		48,007
Conversion of preferred stock		$ 6	(6)
Conversion of preferred stock (in shares)	(6)	55,180
Offering costs			(11,919)		(11,919)
Long-term incentive plan grants (in shares)		2,022
Long-term incentive plan forfeitures (in shares)		(232)
Reduction in shares to cover individuals' tax withholding			(1,845)		(1,845)
Reduction in shares to cover individuals' tax withholding (in shares)		(295)
Share-based compensation			34,193		34,193
Balances at Sep. 30, 2017		$ 15	$ 1,013,141	$ 148,832	$ 1,161,988
Balances (in shares) at Sep. 30, 2017		149,666

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	1 Months Ended	8 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 09, 2016	Sep. 30, 2017
Cash flows from operating activities:
Net income (loss)	$ (450,692)		$ 628,816
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depletion, depreciation and accretion	9,051		100,788
Full cost ceiling impairment	420,934
(Gain) loss on sale of oil and natural gas properties			(727,520)
Share-based compensation, net	13,196		33,548
Unrealized loss (gain) on derivative contracts	30,338		(11,010)
Amortization and write-off of deferred loan costs			1,306
Amortization of discount and premium	377		2,358
Reorganization items	560		(739)
Loss (gain) on extinguishment of debt			86,065
Accrued settlements on derivative contracts	(22,695)		(673)
Other income (expense)	(94)		(3,393)
Change in assets and liabilities:
Accounts receivable	12,541		37,950
Prepaids and other	(81)		(5,231)
Accounts payable and accrued liabilities	(1,113)		(40,043)
Net cash provided by (used in) operating activities	12,322		102,222
Cash flows from investing activities:
Oil and natural gas capital expenditures	(10,289)		(218,880)
Proceeds received from sales of oil and natural gas properties			1,901,578
Acquisition of oil and natural gas properties			(916,676)
Acquisition of other operating property and equipment			(25,538)
Other operating property and equipment capital expenditures	(231)		(25,474)
Proceeds received from sale of other operating property and equipment			21,291
Funds held in escrow and other	(1,721)		1,459
Net cash provided by (used in) investing activities	(12,241)		737,760
Cash flows from financing activities:
Proceeds from borrowings	30,000		1,349,000
Repayments of borrowings	(32,000)		(1,497,826)
Cash payments to Noteholders and Preferred Holders	(10,013)		(70,903)
Debt issuance costs			(17,220)
Preferred stock issued			400,055
Offering costs and other			(13,765)
Net cash provided by (used in) financing activities	(12,013)		149,341
Net increase (decrease) in cash	(11,932)		989,323
Cash at beginning of period	13,943		24
Cash at end of period	2,011	$ 13,943	989,347
Supplemental cash flow information:
Cash paid (received) for reorganization items	(4)		739
Disclosure of non-cash investing and financing activities:
Asset retirement obligations	8		(28,481)
Accretion of non-cash preferred dividend			48,007
Preferred dividends on redeemable noncontrolling interest paid-in-kind	791
Accrued debt issuance costs			$ (153)
Predecessor
Cash flows from operating activities:
Net income (loss)		11,958
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depletion, depreciation and accretion		120,555
Full cost ceiling impairment		754,769
Other operating property and equipment impairment		28,056
Share-based compensation, net		4,876
Unrealized loss (gain) on derivative contracts		263,732
Amortization and write-off of deferred loan costs		6,371
Amortization of discount and premium		1,515
Reorganization items		(929,084)
Loss (gain) on extinguishment of debt		(81,434)
Other income (expense)		(4,233)
Change in assets and liabilities:
Accounts receivable		47,920
Prepaids and other		(4,329)
Accounts payable and accrued liabilities		(45,324)
Net cash provided by (used in) operating activities		175,348
Cash flows from investing activities:
Oil and natural gas capital expenditures		(226,741)
Proceeds received from sales of oil and natural gas properties		(407)
Acquisition of oil and natural gas properties		124
Other operating property and equipment capital expenditures		(950)
Proceeds received from sale of other operating property and equipment		138
Funds held in escrow and other		62
Net cash provided by (used in) investing activities		(227,774)
Cash flows from financing activities:
Proceeds from borrowings		886,000
Repayments of borrowings		(727,648)
Cash payments to Noteholders and Preferred Holders		(97,521)
Debt issuance costs		(1,977)
Offering costs and other		(511)
Net cash provided by (used in) financing activities		58,343
Net increase (decrease) in cash		5,917
Cash at beginning of period	$ 13,943	8,026
Cash at end of period		13,943
Supplemental cash flow information:
Cash paid (received) for reorganization items		15,362
Disclosure of non-cash investing and financing activities:
Accrued capitalized interest		(23,966)
Asset retirement obligations		939
Preferred dividends on redeemable noncontrolling interest paid-in-kind		9,329
Accretion of redeemable noncontrolling interest		26,576
Accrued debt issuance costs		$ 1,176

FINANCIAL STATEMENT PRESENTATIO

FINANCIAL STATEMENT PRESENTATION	9 Months Ended
	Sep. 30, 2017
FINANCIAL STATEMENT PRESENTATION
FINANCIAL STATEMENT PRESENTATION	1. FINANCIAL STATEMENT PRESENTATION Basis of Presentation and Principles of Consolidation Halcón Resources Corporation (Halcón or the Company) is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the United States. The unaudited condensed consolidated financial statements include the accounts of all majority-owned, controlled subsidiaries. The Company operates in one segment which focuses on oil and natural gas acquisition, production, exploration and development. The Company's oil and natural gas properties are managed as a whole rather than through discrete operating areas. Operational information is tracked by operating area; however, financial performance is assessed as a whole. Allocation of capital is made across the Company's entire portfolio without regard to operating area. All intercompany accounts and transactions have been eliminated. These unaudited condensed consolidated financial statements reflect, in the opinion of the Company's management, all adjustments, consisting of normal and recurring adjustments, necessary to present fairly the financial position as of, and the results of operations for, the periods presented. During interim periods, Halcón follows the accounting policies disclosed in its Annual Report on Form 10-K, as filed with the United States Securities and Exchange Commission (SEC) on March 1, 2017. Please refer to the notes in the 2016 Annual Report on Form 10-K when reviewing interim financial results, though, as described below, such prior financial statements may not be comparable to the interim financial statements due to the adoption of fresh-start accounting on September 9, 2016. Emergence from Voluntary Reorganization under Chapter 11 On July 27, 2016 (the Petition Date), the Company and certain of its subsidiaries (the Halcón Entities) filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court in the District of Delaware (the Bankruptcy Court) to pursue a joint prepackaged plan of reorganization (the Plan). On September 8, 2016, the Bankruptcy Court entered an order confirming the Plan and on September 9, 2016, the Plan became effective (the Effective Date) and the Halcón Entities emerged from chapter 11 bankruptcy. The Company's subsidiary, HK TMS, LLC which was divested on September 30, 2016, was not part of the chapter 11 bankruptcy filings. See Note 2, "Reorganization," for further details on the Company's chapter 11 bankruptcy and the Plan and Note 4, "Acquisitions and Divestitures," for further details on the divestiture of HK TMS, LLC. Upon emergence from chapter 11 bankruptcy, the Company adopted fresh-start accounting in accordance with provisions of the Financial Accounting Standards Board's (FASB) Accounting Standards Codification (ASC) 852, "Reorganizations" (ASC 852) which resulted in the Company becoming a new entity for financial reporting purposes on the Effective Date. Upon the adoption of fresh-start accounting, the Company's assets and liabilities were recorded at their fair values as of the fresh-start reporting date. As a result of the adoption of fresh-start accounting, the Company's unaudited condensed consolidated financial statements subsequent to September 9, 2016 are not comparable to its unaudited condensed consolidated financial statements prior to, and including, September 9, 2016. See Note 3, "Fresh-start Accounting," for further details on the impact of fresh-start accounting on the Company's unaudited condensed consolidated financial statements. References to "Successor" or "Successor Company" relate to the financial position and results of operations of the reorganized Company subsequent to September 9, 2016. References to "Predecessor" or "Predecessor Company" relate to the financial position and results of operations of the Company prior to, and including, September 9, 2016. Use of Estimates The preparation of the Company's unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods. Estimates and assumptions that, in the opinion of management of the Company, are significant include oil and natural gas revenue 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, including estimates of Reorganization Value, Enterprise Value and the fair value of assets and liabilities recorded as a result of the adoption of fresh-start accounting, plus the estimated fair values of assets acquired and liabilities assumed in connection with the Pecos County Acquisition and the fair value of assets sold in connection with the Williston Divestiture and the El Halcón Divestiture (see Note 4, "Acquisitions and Divestitures," for information on the Pecos County Acquisition, the Williston Divestiture and the El Halcón Divestiture), including the gains on sales recorded, and income taxes. The Company bases its estimates and judgments on historical experience and on various other assumptions and information believed to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be predicted with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company's operating environment changes. Actual results may differ from the estimates and assumptions used in the preparation of the Company's unaudited condensed consolidated financial statements. Interim period results are not necessarily indicative of results of operations or cash flows for the full year and, accordingly, certain information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States has been condensed or omitted. The Company has evaluated events or transactions through the date of issuance of these unaudited condensed consolidated financial statements. Accounts Receivable and Allowance for Doubtful Accounts The Company's accounts receivable are primarily receivables from joint interest owners and oil and natural gas purchasers. Accounts receivable are recorded at the amount due, less an allowance for doubtful accounts, when applicable. The Company establishes provisions for losses on accounts receivable if it determines that collection of all or part of the outstanding balance is doubtful. The Company regularly reviews collectability and establishes or adjusts the allowance for doubtful accounts as necessary using the specific identification method. There were no significant allowances for doubtful accounts as of September 30, 2017 (Successor) or December 31, 2016 (Successor). Other Operating Property and Equipment Other operating property and equipment were recorded at fair value as a result of fresh-start accounting on September 9, 2016 and additions since that date are recorded at cost. Depreciation is calculated using the straight-line method over the following estimated useful lives: gas gathering systems, thirty years; water disposal and recycling facilities, twenty years; compressed natural gas facility, ten years; automobiles and computers, three years; computer software, fixtures, furniture and equipment, five years or the lesser of the lease term; trailers, seven years; heavy equipment, eight to ten years; 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. Refer to Note 4, "Acquisitions and Divestitures," for a discussion of other operating property and equipment acquired and divested during the period. The Company reviews its other operating property and equipment for impairment in accordance with ASC 360, Property, Plant, and Equipment (ASC 360). ASC 360 requires the Company to evaluate other operating property and equipment 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 other operating property and equipment at each reporting period to determine whether events and circumstances warrant a revision to the remaining depreciation periods. For the period from January 1, 2016 through September 9, 2016 (Predecessor), the Company recorded a non-cash impairment charge of $28.1 million in "Other operating property and equipment impairment" in the Company's unaudited condensed consolidated statements of operations and in "Other operating property and equipment" in the Company's unaudited condensed consolidated balance sheets related to $32.8 million gross investments in gas gathering infrastructure that were deemed non-economical due to a shift in exploration, drilling and developmental plans in a low commodity price environment. 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 infrastructure was based on an income approach that estimated future cash flows associated with those assets over the remaining asset lives. 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 infrastructure being classified as Level 3. Recently Issued Accounting Pronouncements In January 2017, the FASB issued Accounting Standards Update (ASU) No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01). For public business entities, ASU 2017-01 is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2017. The amendments in this ASU should be applied prospectively on or after the effective date. The ASU was issued to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions of assets or businesses. The Company is in the process of assessing the effects of the application of the new guidance. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) (ASU 2016-15). For public business entities, ASU 2016-15 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 and early adoption is permitted. The areas for simplification in this ASU involve addressing eight specific classification issues in the statement of cash flows. An entity should apply the amendments in this ASU using a retrospective transition method. The Company is in the process of assessing the effects of the application of the new guidance. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02). For public business entities, ASU 2016-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018 and early adoption is permitted. The FASB issued ASU 2016-02 to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. An entity should apply the amendments in this ASU on a modified retrospective basis. The transition will require application of the new guidance at the beginning of the earliest comparative period presented in the financial statements. The Company is in the early stages of assessing the effects of the application of the new guidance and the financial statement and disclosure impacts. The Company will adopt ASU 2016-02 no later than January 1, 2019. 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 amounts that reflect 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. In March 2016, ASU 2014-09 was updated with ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (ASU 2016-08), which provides further clarification on the principal versus agent evaluation. ASU 2014-09 is required to be adopted using either the full retrospective approach, with all prior periods presented adjusted, or the modified retrospective approach, with a cumulative adjustment to retained earnings on the opening balance sheet and is effective for annual reporting periods, and interim periods within that reporting period, beginning after December 15, 2017. Early adoption is not permitted. The Company is in the process of assessing its contracts with customers and evaluating the effects of the new guidance on its financial statements and disclosures. This process includes evaluating certain components of its natural gas gathering and processing agreements to determine whether changes to revenues and expenses will be appropriate when complying with the new guidance. The adoption is not expected to have a significant impact on the Company's net income or cash flows from operations. The Company will adopt ASU 2014-09 effective January 1, 2018.

REORGANIZATION

REORGANIZATION	9 Months Ended
	Sep. 30, 2017
REORGANIZATION
REORGANIZATION	2. REORGANIZATION On June 9, 2016, the Halcón Entities entered into a restructuring support agreement (the Restructuring Support Agreement) with certain holders of the Company's 13% senior secured third lien notes due 2022 (the Third Lien Noteholders), the Company's 8.875% senior unsecured notes due 2021, 9.25% senior unsecured notes due 2022 and 9.75% senior unsecured notes due 2020 (collectively, the Unsecured Noteholders), the holder of the Company's 8% senior unsecured convertible note due 2020 (the Convertible Noteholder), and certain holders of the Company's 5.75% Series A Convertible Perpetual Preferred Stock. On July 27, 2016, the Halcón Entities filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court in the District of Delaware to effect an accelerated prepackaged bankruptcy restructuring as contemplated in the Restructuring Support Agreement. On September 8, 2016, the Bankruptcy Court entered an order confirming the Plan and on September 9, 2016, the Halcón Entities emerged from chapter 11 bankruptcy. Upon emergence, pursuant to the terms of the Plan, the following significant transactions occurred: · the Predecessor Company's financing facility under the Predecessor Credit Agreement was refinanced and replaced with a debtor-in-possession senior secured, super-priority revolving credit facility, which was subsequently converted into the Senior Credit Agreement (refer to Note 6, "Debt," for further details regarding the Senior Credit Agreement); · the Predecessor Company's Second Lien Notes (consisting of $700.0 million in aggregate principal amount outstanding of 8.625% senior secured notes due 2020 and $112.8 million in aggregate principal amount outstanding of 12% senior secured notes due 2022) were unimpaired and reinstated; · the Predecessor Company's Third Lien Notes were cancelled and the Third Lien Noteholders received their pro rata share of 76.5% of the common stock of reorganized Halcón, together with a cash payment of $33.8 million, and accrued and unpaid interest on their notes through May 15, 2016, which interest was paid prior to the chapter 11 bankruptcy filing, in full and final satisfaction of their claims; · the Predecessor Company's Unsecured Notes were cancelled and the Unsecured Noteholders received their pro rata share of 15.5% of the common stock of reorganized Halcón, together with a cash payment of $37.6 million and warrants to purchase 4% of the common stock of reorganized Halcón (with a four year term and an exercise price of $14.04 per share), and accrued and unpaid interest on their notes through May 15, 2016, which interest was paid prior to the chapter 11 bankruptcy filing, in full and final satisfaction of their claims; · the Predecessor Company's Convertible Note was cancelled and the Convertible Noteholder received 4% of the common stock of reorganized Halcón, together with a cash payment of $15.0 million and warrants to purchase 1% of the common stock of reorganized Halcón (with a four year term and an exercise price of $14.04 per share), in full and final satisfaction of their claims; · the general unsecured claims were unimpaired and paid in full in the ordinary course; · all outstanding shares of the Predecessor Company's Series A Preferred Stock were cancelled and the Preferred Holders received their pro rata share of $11.1 million in cash, in full and final satisfaction of their interests; and · all of the Predecessor Company's outstanding shares of common stock were cancelled and the common stockholders received their pro rata share of 4% of the common stock of reorganized Halcón, in full and final satisfaction of their interests. Each of the foregoing percentages of equity in the reorganized Company were as of September 9, 2016 and are subject to dilution from the exercise of the new warrants described above, a management incentive plan discussed further in Note 11 , "Stockholders' Equity," and other future issuances of equity securities. See Note 6, " Debt ," and Note 11, " Stockholders' Equity ," for further information regarding the Company's Successor and Predecessor debt and equity instruments.

FRESH-START ACCOUNTING

FRESH-START ACCOUNTING	9 Months Ended
	Sep. 30, 2017
FRESH-START ACCOUNTING
FRESH-START ACCOUNTING	3. FRESH-START ACCOUNTING Upon the Company's emergence from chapter 11 bankruptcy, the Company qualified for and adopted fresh-start accounting in accordance with the provisions set forth in ASC 852 as (i) the Reorganization Value of the Company's assets immediately prior to the date of confirmation was less than the post-petition liabilities and allowed claims, and (ii) the holders of the existing voting shares of the Predecessor entity received less than 50% of the voting shares of the emerging entity. Refer to Note 2 , "Reorganization," for the terms of the Plan. Fresh-start accounting requires the Company to present its assets, liabilities, and equity as if it were a new entity upon emergence from bankruptcy. The new entity is referred to as "Successor" or "Successor Company." However, the Company will continue to present financial information for any periods before adoption of fresh-start accounting for the Predecessor Company. The Predecessor and Successor companies may lack comparability, as required in ASC Topic 205, Presentation of Financial Statements (ASC 205). ASC 205 states financial statements are required to be presented comparably from year to year, with any exceptions to comparability clearly disclosed. Therefore, "black-line" financial statements are presented to distinguish between the Predecessor and Successor companies. Adopting fresh-start accounting results in a new financial reporting entity with no beginning retained earnings or deficit as of the fresh-start reporting date. Upon the application of fresh-start accounting, the Company allocated the Reorganization Value (the fair value of the Successor Company's total assets) to its individual assets based on their estimated fair values. The Reorganization Value is intended to represent the approximate amount a willing buyer would value the Company's assets immediately after the reorganization. Reorganization Value is derived from an estimate of Enterprise Value, or the fair value of the Company's long-term debt, stockholders' equity and working capital. The estimated Enterprise Value at the Effective Date was below the midpoint of the Court approved range of $1.6 billion to $1.8 billion, primarily reflecting the decline in forward commodity prices during the period between the Company's analysis performed in advance of the July 2016 chapter 11 bankruptcy filing and the Effective Date. The Enterprise Value was derived from an independent valuation using an asset based methodology of proved reserves, undeveloped acreage, and other financial information, considerations and projections, applying a combination of the income, cost and market approaches as of the fresh-start reporting date of September 9, 2016. The Company's principal assets are its oil and natural gas properties. For purposes of estimating the fair value of the Company's proved, probable and possible reserves, an income approach was used which estimated fair value based on the anticipated cash flows associated with the Company's reserves, risked by reserve category and discounted using a weighted average cost of capital rate of 10.5% for proved reserves and 12.5% for probable and possible reserves. The proved reserve locations were limited to wells expected to be drilled in the Company's five year development plan. Weighted average commodity prices utilized in the determination of the fair value of oil and natural gas properties were $72.30 per barrel of oil, $3.50 per million British thermal units (MMBtu) of natural gas and $12.00 per barrel of oil equivalent of natural gas liquids, after adjustment for transportation fees and regional price differentials. Base pricing was derived from an average of forward strip prices and analysts' estimated prices. In estimating the fair value of the Company's unproved acreage that was not included in the valuation of probable and possible reserves, 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. See further discussion below in the "Fresh-start accounting adjustments" for the specific assumptions used in the valuation of the Company's various other assets. Although the Company believes the assumptions and estimates used to develop Enterprise Value and Reorganization Value were reasonable and appropriate, different assumptions and estimates could materially impact the analysis and resulting conclusions. The assumptions used in estimating these values are inherently uncertain and require judgment. The following table reconciles the Company's Enterprise Value to the estimated fair value of the Successor's common stock as of September 9, 2016 (in thousands): September 9, Enterprise Value $ Plus: Cash Less: Fair value of debt ) Less: Fair value of redeemable noncontrolling interest ) Less: Fair value of other long-term liabilities ) Less: Fair value of warrants ) ​ ​ ​ ​ ​ Fair Value of Successor common stock $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following table reconciles the Company's Enterprise Value to its Reorganization Value as of September 9, 2016 (in thousands): September 9, Enterprise Value $ Plus: Cash Plus: Current liabilities Plus: Noncurrent asset retirement obligation ​ ​ ​ ​ ​ Reorganization Value of Successor assets $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidated Balance Sheet The following illustrates the effects on the Company's unaudited condensed consolidated balance sheet due to the reorganization and fresh-start accounting adjustments. The explanatory notes following the table below provide further details on the adjustments, including the Company's assumptions and methods used to determine fair value for its assets and liabilities. Amounts included in the table below are rounded to thousands. As of September 9, 2016 Predecessor Reorganization Fresh-Start Successor Current assets: Cash $ $ ) (1) $ — $ Accounts receivable — — Receivables from derivative contracts — — Restricted cash — — Prepaids and other — ) (7) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil and natural gas properties (full cost method): Evaluated — ) (8) Unevaluated — ) (8) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross oil and natural gas properties — ) Less—accumulated depletion ) — (8) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net oil and natural gas properties — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other operating property and equipment: Other operating property and equipment — ) (9) Less—accumulated depreciation ) — (9) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net other operating property and equipment — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other noncurrent assets: Receivables from derivative contracts — — Funds in escrow and other — (10) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: Accounts payable and accrued liabilities $ $ (2) $ — $ Liabilities from derivative contracts — — Other — (11)(12) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt, net — ) (13) Liabilities subject to compromise ) (3) — — Other noncurrent liabilities: Liabilities from derivative contracts — — Asset retirement obligations — ) (12) Other — (11)(14) Commitments and contingencies Mezzanine equity: Redeemable noncontrolling interest — ) (14) Stockholders' equity: Preferred stock (Predecessor) — — (4) — — Common Stock (Predecessor) ) (4) — — Common Stock (Successor) — (5) — Additional paid-in capital (Predecessor) ) (4) — — Additional paid-in capital (Successor) — (5) — Retained earnings (accumulated deficit) ) (6) ) (15) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total stockholders' equity ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and stockholders' equity $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reorganization adjustments (1) The table below details cash payments as of September 9, 2016, pursuant to the terms of the Plan described in Note 2, " Reorganization, " (in thousands): Payment to Third Lien Noteholders $ Payment to Unsecured Noteholders Payment to Convertible Noteholder Payment to Preferred Holders ​ ​ ​ ​ ​ Total Uses $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2) In connection with the chapter 11 bankruptcy, the Company modified and rejected certain office lease arrangements and paid approximately $3.4 million for these modifications and rejections subsequent to the emergence from chapter 11 bankruptcy. This amount also reflects $10.3 million paid to the Company's restructuring advisors subsequent to the emergence from chapter 11 bankruptcy. (3) Liabilities subject to compromise were as follows (in thousands): 13.0% senior secured third lien notes due 2022 $ 9.25% senior notes due 2022 8.875% senior notes due 2021 9.75% senior notes due 2020 8.0% convertible note due 2020 Accrued interest Office lease modification and rejection fees ​ ​ ​ ​ ​ Liabilities subject to compromise Fair value of equity and warrants issued to Third Lien Noteholders, Unsecured Noteholders and Convertible Noteholder ) Cash payments to Third Lien Noteholders, Unsecured Noteholders and Convertible Noteholder ) Office lease modification and rejection fees ) ​ ​ ​ ​ ​ Gain on settlement of Liabilities subject to compromise $ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4) Reflects the cancellation of Predecessor equity, as follows (in thousands): Predecessor Company stock $ Fair value of equity issued to Predecessor common stockholders ) Cash payment to Preferred Holders ) ​ ​ ​ ​ ​ Cancellation of Predecessor Company equity $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5) Reflects the issuance of Successor equity. In accordance with the Plan, the Successor Company issued 3.6 million shares of common stock to the Predecessor Company's existing common stockholders, 68.8 million shares of common stock to the Third Lien Noteholders, 14.0 million shares of common stock to the Unsecured Noteholders, and 3.6 million shares of common stock to the Convertible Noteholder. This amount is subject to dilution by warrants issued to the Unsecured Noteholders and the Convertible Noteholder totaling 4.7 million shares with an exercise price of $14.04 per share and a term of four years. The fair value of the warrants was estimated at $3.52 per share using a Black-Scholes-Merton valuation model. (6) The table below reflects the cumulative effect of the reorganization adjustments discussed above (in thousands): Gain on settlement of Liabilities subject to compromise $ Accrued reorganization items ) Cancellation of Predecessor Company equity ​ ​ ​ ​ ​ Net impact to retained earnings (accumulated deficit) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fresh-start accounting adjustments (7) Reflects the reclassification of tubulars and well equipment to " Oil and natural gas properties ." (8) In estimating the fair value of its oil and natural gas properties, the Company used a combination of the income and market approaches. For purposes of estimating the fair value of the Company's proved, probable and possible reserves, an income approach was used which estimated fair value based on the anticipated cash flows associated with the Company's reserves, risked by reserve category and discounted using a weighted average cost of capital rate of 10.5% for proved reserves and 12.5% for probable and possible reserves. The proved reserve locations were limited to wells expected to be drilled in the Company's five year development plan. Weighted average commodity prices utilized in the determination of the fair value of oil and natural gas properties were $72.30 per barrel of oil, $3.50 per MMBtu of natural gas and $12.00 per barrel of natural gas liquids, after adjustment for transportation fees and regional price differentials. Base pricing was derived from an average of forward strip prices and analysts' estimated prices. In estimating the fair value of the Company's unproved acreage that was not included in the valuation of probable and possible reserves, 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. (9) In estimating the fair value of its other operating property and equipment, the Company used a combination of the income, cost, and market approaches. For purposes of estimating the fair value of its other operating property and equipment, an income approach was used that estimated future cash flows associated with the assets over the remaining useful lives. The valuation included such inputs as estimated future production, gathering and compression revenues, and operating expenses that were discounted at a weighted average cost of capital rate of 9.5%. For purposes of estimating the fair value of its other operating assets, the Company used a combination of the market and cost approaches. A market approach was relied upon to value land and computer equipment, and in this valuation approach, recent transactions of similar assets were utilized to determine the value from a market participant perspective. For the remaining other operating assets, a cost approach was used. The estimation of fair value under the cost approach was based on current replacement costs of the assets, less depreciation based on the estimated economic useful lives of the assets and age of the assets. (10) Reflects the adjustment of the Company's equity method investment in SBE Partners, L.P. to fair value based on an income approach, which calculated the discounted cash flows of the Company's share of the partnership's interest in oil and gas proved reserves. The anticipated cash flows of the reserves were risked by reserve category and discounted at 10.5%. Weighted average commodity prices utilized in the determination of the fair value of oil and natural gas properties were $72.30 per barrel of oil, $3.50 per MMBtu of natural gas and $12.00 per barrel of oil equivalent of natural gas liquids, after adjustment for transportation fees and regional price differentials. Base pricing was derived from an average of forward strip prices and analysts' estimated prices. (11) Records an intangible liability of approximately $8.3 million, $4.5 million of which was recorded as current, to adjust the Company's active rig contract to fair value at September 9, 2016. The intangible liability will be amortized over the remaining life of the contract. (12) Reflects the adjustment of asset retirement obligations to fair value using estimated plugging and abandonment costs as of September 9, 2016, adjusted for inflation and then discounted at the appropriate credit-adjusted risk free rate ranging from 5.5% to 6.6% depending on the life of the well. The fair value of asset retirement obligations was estimated at $32.5 million, approximately $0.3 million of which was recorded as current. Refer to Note 9, "Asset Retirement Obligations," for further details of the Company's asset retirement obligations. (13) Reflects the adjustment of the 2020 Second Lien Notes and the 2022 Second Lien Notes to fair value. The fair value estimate was based on quoted market prices from trades of such debt on September 9, 2016. Refer to Note 6, "Debt," for definitions of and further information regarding the 2020 Second Lien Notes and 2022 Second Lien Notes. (14) Reflects the adjustment of the Company's redeemable noncontrolling interest and related embedded derivative of HK TMS, LLC to fair value. The fair value of the redeemable noncontrolling interest was estimated at $41.1 million and the embedded derivative was estimated at zero. For purposes of estimating the fair values, an income approach was used that estimated fair value based on the anticipated cash flows associated with HK TMS, LLC's proved reserves, risked by reserve category and discounted using a weighted average cost of capital rate of 12.5%. The value of the redeemable noncontrolling interest was further reduced by a probability factor of the potential assignment of the common shares of HK TMS, LLC to Apollo Global Management, which occurred subsequent to the fresh-start date. Refer to Note 4, "Acquisitions and Divestitures," for further information regarding the divestiture of HK TMS, LLC on September 30, 2016. (15) Reflects the cumulative effect of the fresh-start accounting adjustments discussed above. Reorganization Items Reorganization items represent (i) expenses or income incurred subsequent to the Petition Date as a direct result of the Plan, (ii) gains or losses from liabilities settled, and (iii) fresh-start accounting adjustments and are recorded in "Reorganization items" in the Company's unaudited condensed consolidated statements of operations. The following table summarizes the net reorganization items (in thousands): Successor Predecessor Period from Period from Gain on settlement of Liabilities subject to compromise $ — $ Fresh start adjustments — ) Reorganization professional fees and other ) ) Write-off debt discounts/premiums and debt issuance costs — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) on reorganization items $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

ACQUISITIONS AND DIVESTITURES

ACQUISITIONS AND DIVESTITURES	9 Months Ended
	Sep. 30, 2017
ACQUISITIONS AND DIVESTITURES
ACQUISITIONS AND DIVESTITURES	4. ACQUISITIONS AND DIVESTITURES Acquisitions Delaware Basin Assets (Pecos and Reeves Counties, Texas) On January 18, 2017 (Successor), Halcón Energy Properties, Inc., a wholly owned subsidiary of the Company, entered into a Purchase and Sale Agreement with Samson Exploration, LLC (Samson), pursuant to which it agreed to acquire acreage and related assets in the Hackberry Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas (collectively, the Pecos County Assets), for a total purchase price of $699.2 million (the Pecos County Acquisition). The Pecos County Acquisition closed on February 28, 2017. The transaction had an effective date of November 1, 2016. The Company funded the Pecos County Acquisition with the net proceeds from the private placement of its preferred stock and borrowings under its Senior Credit Agreement. Refer to Note 11, "Stockholders' Equity," for further discussion of the Company's issuance of the Preferred Stock. The Pecos County Acquisition was accounted for as a business combination in accordance with ASC 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 acquired approximates the fair value of consideration and as a result no goodwill was recognized. The following table summarizes the consideration paid to acquire the Pecos County Assets, as well as the estimated values of assets acquired and liabilities assumed as of the acquisition date (in thousands): Cash consideration paid to Samson at closing (1) $ Less: Post-effective closing date adjustments (2) ) ​ ​ ​ ​ ​ Final consideration transferred $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Plus: Estimated Fair Value of Liabilities Assumed: Current liabilities $ Asset retirement obligations ​ ​ ​ ​ ​ Amount attributable to liabilites assumed ​ ​ ​ ​ ​ Total purchase price plus liabilities assumed $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Fair Value of Assets Acquired: Evaluated oil and natural gas properties (3)(4) $ Unevaluated oil and natural gas properties (3)(4) Other operating property and equipment (5) ​ ​ ​ ​ ​ Amount attributable to assets acquired $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Represents amount of cash consideration, adjusted for customary closing items, for the purchase of the Pecos County Assets funded by the issuance of approximately $400.1 million of new 8% automatically convertible preferred stock and borrowings under the Senior Credit Agreement. (2) In accordance with the purchase agreement, the effective date of the acquisition was November 1, 2016 and therefore revenues, expenses and related capital expenditures from November 1, 2016 through February 28, 2017, the closing date of the Pecos County Acquisition, have been reflected as adjustments to the purchase price consideration. (3) In estimating the fair value of the Pecos County Assets' oil and natural gas properties, the Company used an income approach. For purposes of estimating the fair value of the proved, probable and possible reserves, an income approach was used which estimated fair value based on the anticipated cash flows associated with the Pecos County Assets' estimated reserves risked by reserve category and discounted using a weighted average cost of capital rate of 10.0% for proved reserves and 12.0% for probable and possible reserves. The proved reserve locations were limited to wells expected to be drilled in the Company's five-year development plan. This estimation includes the use of unobservable inputs, such as estimated future production, oil and natural gas revenues and expenses. The use of these unobservable inputs results in the fair value estimate of the Pecos County Assets being classified as Level 3. (4) Weighted average commodity prices utilized in the determination of the fair value of oil and natural gas properties were $76.10 per barrel of oil, $4.14 per Mcf of natural gas and $29.48 per barrel of oil equivalent of natural gas liquids, after adjustment for transportation fees and regional price differentials. Base pricing was derived from an average of forward strip prices and research analysts' estimated prices. (5) In estimating the fair value of the Pecos County Assets' other operating property and equipment, the Company used a combination of the cost and market approaches. A market approach was relied upon to value the land, heavy equipment and vehicles, and in this valuation approach, recent transactions of similar assets were utilized to determine the value from a market participant perspective. For the remaining other operating assets, a cost approach was used. The estimation of fair value under the cost approach was based on current replacement costs of the assets, less depreciation based on the estimated economic useful lives of the assets and age of the assets. The following unaudited pro forma combined results of operations are provided for the nine months ended September 30, 2017 (Successor) and the period of September 10, 2016 through September 30, 2016 (Successor) and the period of January 1, 2016 through September 9, 2016 (Predecessor) as though the Pecos County Acquisition had been completed as of the beginning of the comparable prior annual reporting period, or January 1, 2016. The pro forma combined results of operations for the nine months ended September 30, 2017 (Successor) and the period of September 10, 2016 through September 30, 2016 (Successor) and the period of January 1, 2016 through September 9, 2016 (Predecessor) have been prepared by adjusting the historical results of the Company to include the historical results of the Pecos County 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 Pecos County Acquisition or any estimated costs that will be incurred to integrate the Pecos County 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. Amounts included in the table below are rounded to thousands. Successor Predecessor Nine Months Period from Period from (Unaudited) (Unaudited) (Unaudited) Revenue $ $ $ Net income (loss) ) Net income (loss) available to common stockholders ) ) Pro forma net income (loss) per share of common stock: Basic $ $ ) $ ) Diluted $ $ ) $ ) The Company's historical financial information was adjusted to give effect to the pro forma events that are directly attributable to the Pecos County Assets and are factually supportable. The unaudited pro forma consolidated results include the historical revenues and expenses of assets acquired and liabilities assumed, 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; • Adjustment to recognize incremental depreciation expense of the other operating property and equipment and incremental accretion expense based on the asset retirement costs of the other operating property and equipment at acquisition; and • Eliminate transaction costs and non-recurring charges directly related to the transactions that were included in the historical results of operations for the Company in the amount of approximately $1.0 million. Transaction costs directly related to the transaction that do not have a continuing impact on the combined Company's operating results have been excluded from the pro forma earnings. For the nine months ended September 30, 2017 (Successor), the Company recognized $28.3 million of oil, natural gas and natural gas liquids and other revenue related to the Pecos County Assets and $2.4 million of net field operating income (oil, natural gas and natural gas liquids and other revenues less lease operating expense, workover expense, production taxes, gathering and other expense, and depletion, depreciation and accretion expense) related to the Pecos County Assets. Additionally, non-recurring transaction costs of approximately $1.0 million related to the Pecos County Acquisition for the nine months ended September 30, 2017 (Successor) are included in the unaudited condensed 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. Divestitures Williston Basin Operated Assets On July 10, 2017 (Successor), the Company and certain of its subsidiaries entered into an Agreement of Sale and Purchase (the Purchase Agreement) with Bruin Williston Holdings, LLC (the Purchaser) for the sale of all of the Company's operated oil and natural gas leases, oil and natural gas wells and related assets located in the Williston Basin in North Dakota, as well as 100% of the membership interests in two of its subsidiaries (the Williston Assets) for a total adjusted sales price of approximately $1.4 billion, subject to post-closing adjustments (the Williston Divestiture). The effective date of the sale was June 1, 2017 and the transaction closed on September 7, 2017. The Company is using the net proceeds from the sale to repay borrowings outstanding under its Senior Credit Agreement, repurchase approximately $425 million principal amount of the outstanding $850 million principal amount of its 6.75% senior unsecured notes, redeem all of its outstanding 12% second lien notes and for general corporate purposes. The net proceeds from the sale were allocated between the Company's oil and natural gas properties, other operating property and equipment and liabilities transferred on a fair value basis. Approximately $1.39 billion was allocated to the Company's oil and natural gas properties and approximately $10.9 million was allocated to other operating property and equipment. As discussed further in Note 5, "Oil and Natural Gas Properties," the Company uses the full cost method of accounting for its investment in oil and natural gas properties. Under this method of accounting, sales of oil and gas properties are accounted for as adjustments to capitalized costs with no gain or loss recognized, unless the adjustment significantly alters the relationship between capitalized costs and proved reserves. If the Williston Divestiture was accounted for as an adjustment of capitalized costs with no gain or loss recognized, the adjustment would have significantly altered the relationship between capitalized costs and proved reserves. Accordingly, the Company recognized a gain on the sale of the Williston Assets of $491.8 million during the three months ended September 30, 2017 (Successor). The carrying value of the properties sold was determined by allocating total capitalized costs within the full cost pool between properties sold and properties retained based on their relative fair values. The gain was recorded in "Gain (loss) on the sale of oil and natural gas properties," on the Company's unaudited condensed consolidated statements of operations. East Texas Eagle Ford Assets On January 24, 2017 (Successor), certain of the Company's subsidiaries entered into an Agreement of Sale and Purchase with a subsidiary of Hawkwood Energy, LLC (Hawkwood) for the sale of all of the Company's oil and natural gas properties and related assets located in the Eagle Ford formation of East Texas (the El Halcón Assets) for a total adjusted sales price of $491.1 million (the El Halcón Divestiture). The effective date of the sale was January 1, 2017 and the transaction closed on March 9, 2017. The Company used the net proceeds from the sale to repay borrowings outstanding under its Senior Credit Agreement and for general corporate purposes. The net proceeds from the sale were allocated between the Company's oil and natural gas properties, other operating property and equipment and liabilities transferred on a fair value basis. Approximately $10.2 million was allocated to other operating property and equipment and approximately $484.1 million was allocated to the Company's oil and natural gas properties. Under the full cost method of accounting, sales of oil and gas properties are accounted for as adjustments of capitalized costs with no gain or loss recognized, unless the adjustment significantly alters the relationship between capitalized costs and proved reserves. If the El Halcón Divestiture was accounted for as an adjustment of capitalized costs with no gain or loss recognized, the adjustment would have significantly altered the relationship between capitalized costs and proved reserves. Accordingly, the Company recognized a gain on the sale of $235.7 million during the nine months ended September 30, 2017 (Successor). The carrying value of the properties sold was determined by allocating total capitalized costs within the full cost pool between properties sold and properties retained based on their relative fair values. The gain was recorded in "Gain (loss) on sale of oil and natural gas properties," on the Company's unaudited condensed consolidated statements of operations. HK TMS, LLC On September 30, 2016, certain wholly-owned subsidiaries of the Successor Company executed an Assignment and Assumption Agreement with an affiliate of Apollo Global Management (Apollo) pursuant to which Apollo acquired one hundred percent (100%) of the common shares (the Membership Interests) of HK TMS, LLC (HK TMS), which transaction is referred to as the HK TMS Divestiture. HK TMS was previously a wholly-owned subsidiary and held all of the Successor Company's oil and natural gas properties in the Tuscaloosa Marine Shale (TMS). In exchange for the assignment of the Membership Interests, Apollo assumed all obligations relating to the Membership Interests, which were previously classified as "Mezzanine Equity" on the unaudited condensed consolidated balance sheets of HK TMS, from and after such date. Prior to the HK TMS Divestiture, the preferred shares were considered probable of becoming redeemable and therefore were accreted up to the estimated required redemption value. The accretion was presented as a deemed dividend and recorded in " Preferred dividends and accretion on redeemable noncontrolling interest " on the unaudited condensed consolidated statements of operations. For the period of September 10, 2016 through September 30, 2016 (Successor) and January 1, 2016 through September 9, 2016 (Predecessor), HK TMS issued 791 and 9,329 additional preferred shares to Apollo for dividends paid-in-kind, respectively. These dividends were presented within " Preferred dividends and accretion on redeemable noncontrolling interest " on the unaudited condensed consolidated statements of operations. HK TMS was not included in the chapter 11 bankruptcy filings or the Restructuring Support Agreement discussed in Note 2, " Reorganization. "

OIL AND NATURAL GAS PROPERTIES

OIL AND NATURAL GAS PROPERTIES	9 Months Ended
	Sep. 30, 2017
OIL AND NATURAL GAS PROPERTIES
OIL AND NATURAL GAS PROPERTIES	5. OIL AND NATURAL GAS PROPERTIES The Company uses the full cost method of accounting for its investment in oil and natural gas properties. Under this method of accounting, all costs of acquisition, exploration and development of oil and natural gas reserves (including such costs as leasehold acquisition costs, geological expenditures, dry hole costs, tangible and intangible development costs and direct internal costs) are capitalized as the cost of oil and natural gas properties when incurred. To the extent capitalized costs of evaluated oil and natural gas properties, net of accumulated depletion, exceed the discounted future net revenues of proved oil and natural gas reserves, net of deferred taxes, such excess capitalized costs are charged to expense. Additionally, the Company assesses all properties classified as unevaluated property on a quarterly basis for possible impairment or reduction in value. The Company assesses properties on an individual basis or as a group, if properties are individually insignificant. The assessment includes consideration of the following factors, among others: intent to drill; remaining lease term; geological and geophysical evaluations; drilling results and activity; the assignment of proved reserves; and the economic viability of development if proved reserves are assigned. During any period in which these factors indicate impairment, the cumulative drilling costs incurred to date for such property and all or a portion of the associated leasehold costs are transferred to the full cost pool and are then subject to depletion and the full cost ceiling test limitation. Investments in unevaluated oil and natural gas properties and exploration and development projects for which depletion expense is not currently recognized, and for which exploration or development activities are in progress, qualify for interest capitalization. The Predecessor Company determined capitalized interest by multiplying the Predecessor Company's weighted-average borrowing cost on debt by the average amount of qualifying costs incurred that were excluded from the full cost pool. The capitalized interest amounts were recorded as additions to "Unevaluated oil and natural gas properties" on the unaudited condensed consolidated balance sheets. For the period from January 1, 2016 through September 9, 2016 (Predecessor), the Company capitalized interest costs of $68.2 million. The Successor Company's policy on the capitalization of interest establishes thresholds for the determination of a development project for the purpose of interest capitalization. At September 30, 2017 (Successor), the ceiling test value of the Company's reserves was calculated based on the first-day-of-the-month average for the 12-months ended September 30, 2017 of the West Texas Intermediate (WTI) crude oil spot price of $49.81 per barrel, adjusted by lease or field for quality, transportation fees, and regional price differentials, and the first-day-of-the-month average for the 12-months ended September 30, 2017 of the Henry Hub natural gas price of $3.00 per MMBtu, adjusted by lease or field for energy content, transportation fees, and regional price differentials. Using these prices, the Company's net book value of oil and natural gas properties at September 30, 2017 (Successor) did not exceed the ceiling amount. At September 30, 2016 (Successor), the ceiling test value of the Company's reserves was calculated based on the first-day-of-the-month average for the 12-months ended September 30, 2016 of the WTI crude oil spot price of $41.68 per barrel, adjusted by lease or field for quality, transportation fees, and regional price differentials, and the first-day-of-the-month average for the 12-months ended September 30, 2016 of the Henry Hub natural gas price of $2.28 per MMBtu, adjusted by lease or field for energy content, transportation fees, and regional price differentials. Using these prices, the Company's net book value of oil and natural gas properties at September 30, 2016 exceeded the ceiling amount by $420.9 million ($268.1 million after taxes, before valuation allowance) which resulted in a ceiling test impairment of that amount for the period of September 10, 2016 through September 30, 2016 (Successor). The impairment at September 30, 2016 reflects the differences between the first day of the month average prices for the preceding 12-months required by Regulation S-X, Rule 4-10 and ASC 932 in calculating the ceiling test and the forward-looking prices required by ASC 852 to estimate the fair value of the Company's oil and natural gas properties on the fresh-start reporting date of September 9, 2016. At June 30, 2016 (Predecessor) and March 31, 2016 (Predecessor), the Company recorded a full cost ceiling impairment before income taxes of $257.9 million ($163.1 million after taxes, before valuation allowance) and $496.9 million ($315.1 million after taxes, before valuation allowance), respectively. The ceiling test impairments at March 31, 2016 and June 30, 2016, were driven by decreases in the first-day-of-the-month 12-month average prices for crude oil used in the ceiling test calculations since December 31, 2015, when the first-day-of-month 12-month average price for crude oil was $50.28 per barrel. The impairment at March 31, 2016 also reflects the transfer of the remaining unevaluated Utica/Point Pleasant (Utica) and TMS properties of approximately $330.4 million and $74.8 million, respectively, to the full cost pool. As discussed above, the Company considers the facts and circumstances around its unevaluated properties that may indicate impairment on a quarterly basis. For the quarter ended March 31, 2016, management concluded that it was no longer probable that capital would be available or approved to continue exploratory drilling activities in the Company's Utica or TMS acreage positions in advance of the related lease expirations due to the Company's evaluation of strategic alternatives to reduce its debt and preserve liquidity in light of continued low commodity prices, together with a reduction of the Company's exploration department and the Company's intent to expend capital only on its most economical and proven areas. The Company recorded the full cost ceiling test impairments in " Full cost ceiling impairment " in the Company's unaudited condensed consolidated statements of operations and in " Accumulated depletion " in the Company's unaudited condensed consolidated balance sheets. Changes in commodity prices, production rates, levels of reserves, future development costs, transfers of unevaluated properties, capital spending, and other factors will determine the Company's ceiling test calculations and impairment analyses in future periods.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2017
DEBT
DEBT	6. DEBT Long-term debt as of September 30, 2017 (Successor) and December 31, 2016 (Successor) consisted of the following (in thousands): Successor September 30, December 31, Senior revolving credit facility $ — $ 8.625% senior secured second lien notes due 2020 (1) — 12.0% senior secured second lien notes due 2022 (2) — 6.75% senior notes due 2025 (3) — ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) On February 16, 2017, the Company repurchased approximately 41% of the outstanding aggregate principal amount of its 8.625% senior secured second lien notes due 2020 with proceeds from the issuance of new 6.75% senior unsecured notes due 2025. The remaining aggregate principal amount was redeemed on March 20, 2017. Amount was net of a $27.4 million unamortized discount at December 31, 2016 (Successor). Refer to "8.625% Senior Secured Second Lien Notes" below for further details. (2) On September 7, 2017, the Company issued an irrevocable notice to redeem the outstanding aggregate principal amount of its 12.0% senior secured second lien notes due 2022 on October 7, 2017. Amount is net of a $6.8 million unamortized discount at December 31, 2016 (Successor). Refer to "12.0% Senior Secured Second Lien Notes" below for further details. (3) On February 16, 2017, the Company issued $850.0 million aggregate principal amount of new 6.75% senior unsecured notes due 2025. On October 10, 2017, the Company repurchased $425.0 million principal amount of the 2025 Notes at 103.0% of par plus accrued and unpaid interest. The repurchased 2025 Notes are presented in "Current portion of long-term debt, net" on the unaudited condensed consolidated balance sheet at September 30, 2017. Amount is net of $8.3 million unamortized discount and $7.8 million unamortized debt issuance costs at September 30, 2017 (Successor). Refer to "6.75% Senior Notes" below for further details. Senior Revolving Credit Facility On September 7, 2017, the Company entered into an Amended and Restated Senior Secured Revolving Credit Agreement (the Senior Credit Agreement) by and among the Company, as borrower, JPMorgan Chase Bank, N.A., as administrative agent, and certain other financial institutions party thereto, as lenders. The Senior Credit Agreement amends and restates in its entirety the original Senior Secured Revolving Credit Agreement entered into on September 9, 2016. Pursuant to the Senior Credit Agreement, the lenders party thereto have agreed to provide the Company with a $1.0 billion senior secured reserve-based revolving credit facility with a current borrowing base of $100.0 million. The maturity date of the Senior Credit Agreement is September 7, 2022. 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 estimated value of 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. Amounts outstanding under the Senior Credit Agreement bear interest at specified margins over the base rate of 1.25% to 2.25% for ABR-based loans or at specified margins over LIBOR of 2.25% to 3.25% for Eurodollar-based loans. These margins fluctuate based on the Company's utilization of the facility. The Company may elect, at its option, to prepay any borrowings outstanding under the Senior Credit Agreement without premium or penalty (except with respect to any break funding payments which may be payable pursuant to the terms of the Senior Credit Agreement). Amounts outstanding under the Senior Credit Agreement are guaranteed by certain of the Company's direct and indirect subsidiaries and secured by a security interest in substantially all of the assets of the Company and its subsidiaries. The Senior Credit Agreement also contains certain financial covenants, including the maintenance of (i) a Total Net Indebtedness Leverage Ratio (as defined in the Senior Credit Agreement) not to exceed 4.00:1.00 and (ii) a Current Ratio (as defined in the Senior Credit Agreement) not to be less than 1.00:1.00. At September 30, 2017 (Successor), the Company was in compliance with the financial covenants under the Senior Credit Agreement. The Senior Credit Agreement also contains certain events of default, including non-payment; breaches of representations and warranties; non-compliance with covenants or other agreements; cross-default to material indebtedness; judgments; change of control; and voluntary and involuntary bankruptcy. At September 30, 2017 (Successor), under the then effective borrowing base of $140.0 million, the Company had no indebtedness outstanding, approximately $6.4 million letters of credit outstanding and approximately $133.6 million of borrowing capacity available under the Senior Credit Agreement. 8.625% Senior Secured Second Lien Notes On May 1, 2015 (Predecessor), the Company issued $700.0 million aggregate principal amount of its 8.625% senior secured second lien notes due 2020 (the 2020 Second Lien Notes) in a private offering. The 2020 Second Lien Notes were issued at par. The net proceeds from the sale of the 2020 Second Lien Notes were approximately $686.2 million (after deducting offering fees and expenses). The 2020 Second Lien Notes bore interest at a rate of 8.625% per annum, payable semi-annually on February 1 and August 1 of each year. In accordance with the Plan, the 2020 Second Lien Notes were unimpaired and reinstated upon the Company's emergence from chapter 11 bankruptcy. On February 16, 2017 (Successor), the Company paid approximately $303.5 million for approximately $289.2 million principal amount of 2020 Second Lien Notes, a make-whole premium of $13.2 million plus accrued and unpaid interest of approximately $1.1 million to repurchase such notes pursuant to a tender offer and issued a redemption notice to redeem the remaining 2020 Second Lien Notes. On February 21, 2017 (Successor), the Company paid approximately $1.2 million for approximately $1.2 million of principal amount of 2020 Second Lien Notes, a make-whole premium of approximately $54,000 plus accrued and unpaid interest to repurchase such notes pursuant to guaranteed delivery procedures of the tender offer. On March 20, 2017 (Successor), the Company paid approximately $432.0 million for $409.6 million aggregate principal amount of 2020 Second Lien Notes, a make-whole premium of $17.7 million and unpaid interest of approximately $4.8 million to redeem the remaining notes at a price of 104.313% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date. The repurchase and redemption of the 2020 Second Lien Notes was funded with proceeds from the issuance of $850.0 million in new 6.75% senior unsecured notes due 2025. The Company recognized a loss on the extinguishment of debt, representing a $30.9 million loss on the repurchase for the tender premium paid and a $26.0 million loss on the write-off of the discount on the notes. The loss was recorded in "Gain (loss) on extinguishment of debt" on the unaudited condensed consolidated statements of operations. 12.0% Senior Secured Second Lien Notes On December 21, 2015 (Predecessor), the Company completed the issuance in a private placement of approximately $112.8 million aggregate principal amount of new 12.0% senior secured second lien notes due 2022 (the 2022 Second Lien Notes) in exchange for approximately $289.6 million principal amount of its then outstanding senior unsecured notes, consisting of $116.6 million principal amount of 9.75% senior notes due 2020, $137.7 million principal amount of 8.875% senior notes due 2021 and $35.3 million principal amount of 9.25% senior notes due 2022. At closing, the Predecessor Company paid all accrued and unpaid interest since the respective interest payment dates of the unsecured notes surrendered in the exchange. The 2022 Second Lien Notes bore interest at a rate of 12.0% per annum, payable semi-annually on February 15 and August 15 of each year. In accordance with the terms of the Plan, the 2022 Second Lien Notes were unimpaired and reinstated upon the Company's emergence from chapter 11 bankruptcy. On September 7, 2017 (Successor), the Company issued an irrevocable notice to redeem the outstanding aggregate principal amount of its 2022 Second Lien Notes on October 7, 2017 (the Redemption Date). In accordance with the terms of the indenture governing the 2022 Second Lien Notes, all of the outstanding 2022 Second Lien Notes were redeemed at a redemption price equal to the principal amount of $112.8 million plus a make whole premium of approximately $23.0 million and accrued and unpaid interest of approximately $2.0 million. On September 7, 2017, utilizing $137.8 million of the proceeds from the Williston Divestiture, the Company deposited with U.S. Bank National Association an amount of funds sufficient to fund the redemption, delivered instructions to apply the deposited funds toward the redemption, and received a written acknowledgment from U.S. Bank National Association of the satisfaction and discharge of the indenture governing the 2022 Second Lien Notes and the obligations of the Company and the subsidiary guarantors under the 2022 Second Lien Notes and related guarantees. The payment of the redemption price and accrued interest to a holder of 2022 Second Lien Notes became due and payable on the Redemption Date upon presentation and surrender by the holder of such notes. The Company recognized a loss on the extinguishment of debt, representing a $23.0 million loss on the redemption for the make whole premium paid and a $6.2 million loss on the write-off of the discount on the notes. The loss was recorded in "Gain (loss) on extinguishment of debt" on the unaudited condensed consolidated statements of operations. 6.75% Senior Notes On February 16, 2017 (Successor), the Company issued $850.0 million aggregate principal amount of new 6.75% senior unsecured notes due 2025 (the 2025 Notes) in a private placement exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (Securities Act), Rule 144A and Regulation S, and applicable state securities laws. The 2025 Notes were issued at par and bear interest at a rate of 6.75% per annum, payable semi-annually on February 15 and August 15 of each year, beginning on August 15, 2017. The 2025 Notes will mature on February 15, 2025. Proceeds from the private placement were approximately $834.1 million after deducting initial purchasers' discounts and commissions and offering expenses. The Company used a portion of the net proceeds from the private placement to fund the repurchase and redemption of the outstanding 2020 Second Lien Notes, as discussed above, and for general corporate purposes. The 2025 Notes are governed by an Indenture, dated as of February 16, 2017 (as supplemented, the February 2017 Indenture) by and among the Company, the Guarantors and U.S. Bank National Association, as Trustee, which contains affirmative and negative covenants that, among other things, limit the ability of the Company and the Guarantors 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 February 2017 Indenture also contains customary events of default. Upon the occurrence of certain events of default, the Trustee or the holders of the 2025 Notes may declare all outstanding 2025 Notes to be due and payable immediately. The 2025 Notes are jointly and severally, fully and unconditionally guaranteed on a senior unsecured basis by the Company's existing wholly-owned subsidiaries. Halcón, the issuer of the 2025 Notes, has no material independent assets or operations apart from the assets and operations of its subsidiaries. In connection with the sale of the 2025 Notes, on February 16, 2017, the Company, the Guarantors and J.P. Morgan Securities LLC, on behalf of itself and as representative of the initial purchasers, entered into a Registration Rights Agreement (the 2017 Registration Rights Agreement) pursuant to which the Company agreed to, among other things, use reasonable best efforts to file a registration statement under the Securities Act and complete an exchange offer for the 2025 Notes within 365 days after closing. In the event the Company fails to comply with its obligations under the 2017 Registration Rights Agreement, it will be subject to penalties in the form of additional interest payable on the 2025 Notes. At any time prior to February 15, 2020, the Company may redeem the 2025 Notes, in whole or in part, at a redemption price equal to 100% of their principal amount plus a make-whole premium, together with accrued and unpaid interest, if any, to the redemption date. The 2025 Notes will be redeemable, in whole or in part, on or after February 15, 2020 at redemption prices equal to the principal amount multiplied by the percentage set forth below, plus accrued and unpaid interest (if any) on the 2025 Notes redeemed during the twelve month period indicated beginning on February 15 of the years indicated below: Year Percentage 2020 2021 2022 2023 and thereafter Additionally, the Company may redeem up to 35% of the 2025 Notes prior to February 15, 2020 for a redemption price of 106.75% of the principal amount thereof, plus accrued and unpaid interest, utilizing net cash proceeds from certain equity offerings. In addition, upon a change of control of the Company, holders of the 2025 Notes will have the right to require the Company to repurchase all or any part of their 2025 Notes for cash at a price equal to 101% of the aggregate principal amount of the 2025 Notes repurchased, plus any accrued and unpaid interest. On July 25, 2017, the Company concluded a consent solicitation of the holders of the 2025 Notes (the Consent Solicitation) and obtained consents to amend the February 2017 Indenture from approximately 99% of the holders of the 2025 Notes. As supplemented, the February 2017 Indenture amends provisions in order to exempt, among other things, the Williston Divestiture from certain provisions therein triggered upon a sale of "all or substantially all of the assets" of the Company. Consenting holders of the 2025 Notes received a consent fee of 2.0% of principal, or $16.9 million. The Company recorded the $16.9 million consent fees paid as a discount on the 2025 Notes during the three months ended September 30, 2017. The remaining unamortized discount on the $850 million principal amount of 2025 Notes was $16.7 million at September 30, 2017. On September 7, 2017, the Company commenced an offer to purchase for cash up to $425.0 million of the $850.0 million outstanding aggregate principal amount of its 2025 Notes at 103.0% of principal plus accrued and unpaid interest. The consummation of the Williston Divestiture constituted a "Williston Sale" under the February 2017 Indenture, and the Company was required to make an offer to all holders of the 2025 Notes to purchase for cash an aggregate principal amount up to $425.0 million of the 2025 Notes. The offer to purchase expired on October 6, 2017, with notes representing in excess of $425.0 million of principal amount validly tendered. As a result, on October 10, 2017, the Company repurchased $425.0 million principal amount of the 2025 Notes on a pro rata basis at 103.0% of par plus accrued and unpaid interest. The repurchased 2025 Notes are presented in "Current portion of long-term debt, net" on the unaudited condensed consolidated balance sheet at September 30, 2017. Debt Issuance Costs The Company capitalizes certain direct costs associated with the issuance of debt and amortizes such costs over the lives of the respective debt. During the nine months ended September 30, 2017 (Successor), the Company capitalized approximately $17.1 million of debt issuance costs related to the Senior Credit Agreement and the 2025 Notes. The debt issuance costs for the Successor Company's Senior Credit Agreement are presented in "Funds in escrow and other " and the debt issuance costs for the Company's senior unsecured debt are presented in "Current portion of long-term debt, net" and "Long-term debt, net" on the unaudited condensed consolidated balance sheets.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2017
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	7. FAIR VALUE MEASUREMENTS Pursuant to ASC 820, Fair Value Measurements (ASC 820), the Company's determination of fair value incorporates not only the credit standing of the counterparties involved in transactions with the Company resulting in receivables on the Company's unaudited condensed consolidated balance sheets, but also the impact of the Company's nonperformance risk on its own liabilities. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy assigns the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Level 2 measurements are inputs that are observable for assets or liabilities, either directly or indirectly, other than quoted prices included within Level 1. The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. 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 any period presented. 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 September 30, 2017 (Successor) and December 31, 2016 (Successor) (in thousands): Successor September 30, 2017 Level 1 Level 2 Level 3 Total Assets Receivables from derivative contracts $ — $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities Liabilities from derivative contracts $ — $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2016 Level 1 Level 2 Level 3 Total Assets Receivables from derivative contracts $ — $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities Liabilities from derivative contracts $ — $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative contracts listed above as Level 2 include collars and basis swaps 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" on the unaudited condensed consolidated statements of operations. The Company is able to value the assets and liabilities based on observable market data for similar instruments, which resulted in the Company reporting its derivatives as Level 2. This observable data includes the forward curves for commodity prices based on quoted market prices and implied volatility factors related to changes in the forward curves. See Note 8, "Derivative and Hedging Activities," for additional discussion of derivatives. The Company's derivative contracts are with major financial institutions with investment grade credit ratings which are believed to have 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. 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 receivables and accounts payables approximate 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 debt instruments as of September 30, 2017 (Successor) and December 31, 2016 (Successor) (excluding discounts and debt issuance costs and including the current portion) (in thousands): Successor September 30, December 31, Debt Principal Estimated Principal Estimated 8.625% senior secured second lien notes $ — $ — $ $ 12.0% senior secured second lien notes — — 6.75% senior notes — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The fair value of the Company's fixed interest rate debt instruments was calculated using Level 2 criteria. The fair value of the Company's senior notes is based on quoted market prices from trades of such debt. On February 28, 2017 (Successor), the Company closed the Pecos County Acquisition and recorded the assets acquired and liabilities assumed at their acquisition date fair values. See Note 4, "Acquisitions and Divestitures ," for a discussion of the fair value approaches used by the Company and the classification of the estimates within the fair value hierarchy. On September 9, 2016, the Company emerged from chapter 11 bankruptcy and adopted fresh-start accounting, which resulted in the Company becoming a new entity for financial reporting purposes. Upon the adoption of fresh-start accounting, the Company's assets and liabilities were recorded at their fair values as of the fresh-start reporting date, September 9, 2016. See Note 3, "Fresh-start Accounting," for a detailed discussion of the fair value approaches used by the Company. For the period from January 1, 2016 through September 9, 2016 (Predecessor), the Company recorded a non-cash impairment charge of $28.1 million related to its gas gathering infrastructure. See Note 1, "Financial Statement Presentation," for a discussion of the valuation approach used and the classification of the estimate within the fair value hierarchy. The Company follows the provisions of ASC 820 for nonfinancial assets and liabilities measured at fair value on a non-recurring basis. These provisions apply to the Company's initial recognition of asset retirement obligations for which fair value is used. The asset retirement obligation estimates are derived from historical costs and management's expectation of future cost environments; consequently, 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 ACTIVITI

DERIVATIVE AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2017
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, including 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. When derivative contracts are available at terms (or prices) acceptable to the Company, it generally hedges a substantial, but varying, portion of anticipated oil and natural gas production for future periods. Derivatives are carried at fair value on the unaudited condensed consolidated balance sheets as assets or liabilities, with the changes in the fair value included in the unaudited condensed consolidated statements of operations for the period in which the change occurs. 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 only with counterparties that are creditworthy financial institutions determined by management as competent and competitive market makers. The Company did not post collateral under any of its derivative contracts as they are secured under the Company's Senior Credit Agreement or are uncollateralized trades. At September 30, 2017 (Successor), the Company's crude oil and natural gas derivative positions consisted of basis swaps and costless put/call "collars." At December 31, 2016 (Successor), the Company's derivative positions consisted of collars only. Basis swaps effectively lock in a price differential between regional prices (i.e. Midland) and the relevant price index at which the oil production is sold (i.e. Cushing). 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. The Company has elected not to designate any of its derivative contracts for hedge accounting. Accordingly, the Company records the net change in the mark-to-market valuation of these derivative contracts, as well as payments and receipts on settled derivative contracts, in "Net gain (loss) on derivative contracts" on the unaudited condensed consolidated statements of operations. At September 30, 2017 (Successor), the Company had 32 open commodity derivative contracts summarized in the following tables: four natural gas collar arrangements, 11 crude oil basis swaps and 17 crude oil collar arrangements. At December 31, 2016 (Successor), the Company had 22 open commodity derivative contracts summarized in the following tables: two natural gas collar arrangements and 20 crude oil collar arrangements. All derivative contracts are recorded at fair market value in accordance with ASC 815 and ASC 820 and included in the unaudited condensed consolidated balance sheets as assets or liabilities. The following table summarizes the location and fair value amounts of all derivative contracts in the unaudited condensed consolidated balance sheets (in thousands): Asset derivative contracts Liability derivative contracts Successor Successor Derivatives not Balance sheet September 30, December 31, Balance sheet September 30, December 31, Commodity contracts Current assets—receivables from derivative contracts $ $ Current liabilities—liabilities from derivative contracts $ ) $ ) Commodity contracts Other noncurrent assets—receivables from derivative contracts — Other noncurrent liabilities—liabilities from derivative contracts ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives not designated as hedging contracts under ASC 815 $ $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following table summarizes the location and amounts of the Company's realized and unrealized gains and losses on derivative contracts in the Company's unaudited condensed consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in Successor Predecessor Period from Period from Three Location of gain or (loss) recognized in Derivatives not designated as hedging Commodity contracts: Unrealized gain (loss) on commodity contracts Other income (expenses)—net gain (loss) on derivative contracts $ ) $ ) $ ) Realized gain (loss) on commodity contracts Other income (expenses)—net gain (loss) on derivative contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total net gain (loss) on derivative contracts $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain or (loss) recognized in Successor Predecessor Period from Period from Nine Months Location of gain or (loss) recognized in Derivatives not designated as hedging Commodity contracts: Unrealized gain (loss) on commodity contracts Other income (expenses)—net gain (loss) on derivative contracts $ $ ) $ ) Realized gain (loss) on commodity contracts Other income (expenses)—net gain (loss) on derivative contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total net gain (loss) on derivative contracts $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At September 30, 2017 (Successor) and December 31, 2016 (Successor), the Company had the following open crude oil and natural gas derivative contracts: Successor September 30, 2017 Floors Ceilings Basis Differential Period Instrument Commodity Volume in Price / Weighted Price / Weighted Price / Weighted October 2017 - December 2017 Collars Natural Gas $ $ $ $ $ — $ — October 2017 - December 2017 Collars Crude Oil 51.07 - 60.00 56.07 - 75.00 November 2017 - December 2017 Collars Crude Oil January 2018 - December 2018 Basis Swap Crude Oil (1.05) - (1.50) ) January 2018 - December 2018 Collars Crude Oil 45.00 - 53.00 50.00 - 60.00 January 2018 - December 2018 Collars Natural Gas 3.00 - 3.03 3.22 - 3.38 April 2018 - December 2018 Basis Swap Crude Oil ) April 2018 - December 2018 Collars Crude Oil July 2018 - December 2018 Basis Swap Crude Oil (0.98) - (1.18) ) July 2018 - December 2018 Collars Crude Oil January 2019 - March 2019 Collars Crude Oil January 2019 - December 2019 Basis Swap Crude Oil (0.98) - (1.33) ) Successor December 31, 2016 Floors Ceilings Period Instrument Commodity Volume in Price / Weighted Price / Weighted January 2017 - December 2017 Collars Natural Gas $ 3.15 - $3.26 $ $ 3.50 - $3.76 $ January 2017 - December 2017 Collars Crude Oil 47.00 - 60.00 52.00 - 76.84 January 2018 - December 2018 Collars Crude Oil The Company presents the fair value of its derivative contracts at the gross amounts in the unaudited condensed consolidated balance sheets. The following table shows the potential effects of master netting arrangements on the fair value of the Company's derivative contracts (in thousands): Derivative Assets Derivative Liabilities Successor Successor Offsetting of Derivative Assets and Liabilities September 30, December 31, September 30, December 31, Gross Amounts Presented in the Consolidated Balance Sheet $ $ $ ) $ ) Amounts Not Offset in the Consolidated Balance Sheet ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Amount $ $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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	9 Months Ended
	Sep. 30, 2017
ASSET RETIREMENT OBLIGATIONS
ASSET RETIREMENT OBLIGATIONS	9. ASSET RETIREMENT OBLIGATIONS The Company records an asset retirement obligation (ARO) on oil and natural gas properties when it can reasonably estimate the fair value of an obligation to perform site reclamation, dismantle facilities or plug and abandon costs. For other operating property and equipment, the Company records an ARO when the system is placed in service and it can reasonably estimate the fair value of an obligation to perform site reclamation and other necessary work when it is required. The Company records the ARO liability on the unaudited condensed consolidated balance sheets and capitalizes a portion of the cost in " Oil and natural gas properties " or " Other operating property and equipment " during the period in which the obligation is incurred. The Company records the accretion of its ARO liabilities in " Depletion, depreciation and accretion " expense in the unaudited condensed consolidated statements of operations. The additional capitalized costs are depreciated on a unit-of-production basis or straight-line basis. The Company recorded the following activity related to its ARO liability (in thousands, inclusive of the current portion): Liability for asset retirement obligations as of December 31, 2016 (Sucessor) $ Liabilities settled and divested (1) ) Additions Acquisitions (1) Accretion expense Revisions in estimated cash flows ​ ​ ​ ​ ​ Liability for asset retirement obligations as of September 30, 2017 (Successor) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) See Note 4, "Acquisitions and Divestitures," for further information.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2017
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 other field office locations. Rent expense was approximately $3.0 million for the nine months ended September 30, 2017 (Successor). Rent expense was approximately $0.4 million for the period of September 10, 2016 through September 30, 2016 (Successor) and $5.9 million for the period of January 1, 2016 through September 9, 2016 (Predecessor). Future obligations associated with the Company's operating leases are presented in the table below (in thousands): Remaining period in 2017 $ 2018 2019 2020 2021 Thereafter ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2017 (Successor), the Company has the following active drilling rig commitments (in thousands): Remaining period in 2017 $ 2018 2019 — 2020 — 2021 — Thereafter — ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2017 (Successor), termination of the Company's active drilling rig commitments would require early termination penalties of $1.7 million, which would be in lieu of paying the remaining active commitments of $4.4 million. In past years, with the sustained decline in crude oil prices, the Company stacked certain drilling rigs and amended other previous drilling rig contracts. In the future, the Company expects to incur stacking charges/early termination fees on certain drilling rig commitments as follows (in thousands): Remaining period in 2017 $ 2018 2019 — 2020 2021 — Thereafter — ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stacking fees and early termination fees are expensed as incurred within " Gathering and other " on the unaudited condensed consolidated statements of operations. In December 2016 (Successor), the Company entered into an agreement with a private company for the right to purchase up to 15,040 net acres in the Monument Draw area of the Delaware Basin, located in Ward and Winkler Counties, Texas (the Ward County Assets) prospective for the Wolfcamp and Bone Spring formations for an initial purchase price of $11,000 per acre. The Ward County Assets are divided into two tracts: the Southern Tract, comprising 6,720 net acres, and the Northern Tract, comprising 8,320 net acres, with separate options for each tract. The agreement was subsequently amended on June 14, 2017 (Successor) to increase the purchase price of the Southern and Northern Tract acreage, from $11,000 per acre to $13,000 per acre, for rights to additional depths in the acreage under option. Pursuant to the terms of the agreement, the Company initially paid $5.0 million and drilled a commitment well on the Southern Tract and on June 15, 2017 (Successor) purchased the Southern Tract acreage for approximately $13,000 per acre. On June 15, 2017 (Successor), the Company also paid $5.0 million and recently drilled a commitment well on the Northern Tract, to earn the option to acquire the Northern Tract acreage for $13,000 per acre by December 31, 2017. This option purchase agreement is not included in the tables above. The Company has entered into various long-term gathering, transportation and sales contracts with respect to production from the Delaware Basin in West Texas. As of September 30, 2017 (Successor), the Company had in place two long-term crude oil contracts and four long-term natural gas contracts in this area. Under the terms of these contracts, the Company has committed a substantial portion of its production from this area for periods ranging from one to eight years from the date of first production. The sales prices under these contracts are based on posted market rates. Contingencies From time to time, the Company may be a plaintiff or defendant in a pending or threatened legal proceeding arising in the normal course of its business. While the outcome and impact of currently pending legal proceedings cannot be determined, the Company's management and legal counsel believe that the resolution of these proceedings through settlement or adverse judgment will not have a material effect on the Company's unaudited condensed consolidated operating results, financial position or cash flows.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2017
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	11. STOCKHOLDERS' EQUITY Preferred Stock and Non-Cash Preferred Stock Dividend On January 24, 2017 (Successor) (the Commitment Date), the Company entered into a stock purchase agreement with certain accredited investors to sell, in a private placement exempt from registration requirements of the Securities Act pursuant to Section 4(a)(2), approximately 5,518 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 January 24, 2017, the Company received an executed written consent in lieu of a stockholders' meeting authorizing and approving the conversion of the Preferred Stock into common stock. On February 27, 2017, the Company filed with the Delaware Secretary of State a Certificate of Designation, Preferences, Rights and Limitations of the Preferred Stock (the Certificate of Designation), which created the series of preferred stock issued by the Company on that same date. The Company issued the Preferred Stock at $72,500 per share. Gross proceeds were approximately $400.1 million, or $7.25 per share of common stock. The Company incurred approximately $11.9 million in expenses associated with this offering, including placement agent fees. On March 16, 2017, the Company mailed a definitive information statement to its common stockholders notifying them that a majority of its stockholders had consented to the issuance of common stock, par value $0.0001 per share, upon the conversion of the Preferred Stock. The Preferred Stock automatically converted into 55.2 million shares of common stock on April 6, 2017 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 June 1, 2017. The Company agreed to file a registration statement to register the resale of shares of common stock issuable upon conversion of the Preferred Stock and to pay penalties in the event such registration was not effective by June 27, 2017. The Company filed such registration statement on March 3, 2017 and it was declared effective by the SEC on April 7, 2017. In accordance with ASC Topic 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 Company's common stock of $8.12 per share on the Commitment Date was greater than the conversion price of $7.25 per share of common stock, representing a beneficial conversion feature of $0.87 per share of common stock, or approximately $48.0 million in aggregate. Under ASC 470, $48.0 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 is required to be amortized on a non-cash basis over the approximate 65-month period between the issuance date and the required redemption date of July 28, 2022, or fully amortized upon an accelerated date of redemption or conversion, and recorded as a preferred dividend. As a result, approximately $0.8 million of the Discount was amortized and a non-cash preferred dividend was recorded in the three months ended March 31, 2017 (Successor) and due to the conversion date occurring on April 6, 2017, the remaining $47.2 million of the amortization of the Discount was accelerated to the conversion date and fully amortized in the three months ended June 30, 2017 (Successor). The Discount amortization is reflected in "Non-cash preferred dividend" in the unaudited condensed consolidated statements of operations. The preferred dividend was charged against additional paid-in capital since no retained earnings were available. Common Stock On September 9, 2016, upon emergence from chapter 11 bankruptcy, all existing shares of Predecessor common stock were cancelled and the Successor Company issued approximately 90.0 million shares of common stock in total to the Predecessor Company's existing common stockholders, Third Lien Noteholders, Unsecured Noteholders, and the Convertible Noteholder. Refer to Note 2, " Reorganization " for further details. On September 9, 2016, upon emergence from chapter 11 bankruptcy, the Successor Company filed an amended and restated certificate of incorporation with the Delaware Secretary of State to provide for (i) the total number of shares of all classes of capital stock that the Successor Company has the authority to issue is 1,001,000,000 of which 1,000,000,000 shares are common stock, par value $0.0001 per share and 1,000,000 shares are preferred stock, par value $0.0001 per share, (ii) a classified board structure, (iii) the right of removal of directors with or without cause by stockholders, and (iv) a restriction on the Successor Company from issuing any non-voting equity securities in violation of Section 1123(a)(6) of chapter 11 of title 11 of the United States Code. Additionally, the Company's 5.75% Series A Convertible Perpetual Preferred Stock (the Series A Preferred), was cancelled pursuant to the Plan, and no shares of Series A Preferred are outstanding. Warrants On September 9, 2016, upon the emergence from chapter 11 bankruptcy, all existing February 2012 warrants were cancelled and the Successor Company issued 3.8 million new warrants to the Unsecured Noteholders and 0.9 million new warrants to the Convertible Noteholder. The warrants in aggregate can be exercised to purchase 4.7 million shares of the Successor Company's common stock at an exercise price of $14.04 per share. The Company allocated approximately $16.7 million of the Enterprise Value to the warrants which is reflected in " Additional paid-in capital " on the unaudited condensed consolidated balance sheets. The holders are entitled to exercise the warrants in whole or in part at any time prior to expiration on September 9, 2020. See Note 2, " Reorganization " for further details. Incentive Plans Immediately prior to emergence from chapter 11 bankruptcy, the Predecessor incentive plan was cancelled and all share-based compensation awards granted thereunder were either vested or cancelled and the Predecessor Company's Board adopted the 2016 Long-Term Incentive Plan (the 2016 Incentive Plan). An aggregate of 10.0 million shares of the Successor Company's common stock were available for grant pursuant to awards under the 2016 Incentive Plan in the form of nonqualified stock options, incentive stock options, restricted stock awards, restricted stock units, stock appreciation rights, performance units, performance bonuses, stock awards and other incentive awards. On April 6, 2017 (Successor), an amendment to the 2016 Incentive Plan to increase by 9.0 million shares the maximum number of shares of common stock that may be issued thereunder, i.e., a maximum of 19.0 million shares, became effective, which was 20 calendar days following the date the Company mailed an information statement to all stockholders of record notifying them of approval of the amendment by written consent. As of September 30, 2017 (Successor) and December 31, 2016 (Successor), a maximum of 7.3 million and 1.7 million shares of common stock, respectively, remained reserved for issuance under the 2016 Incentive Plan. The Company accounts for share-based payment accruals under authoritative guidance on stock compensation. 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 awards granted under the 2016 Incentive Plan subsequent to emerging from chapter 11 bankruptcy and in conjunction with the early adoption of ASU 2016-09, the Company has elected to not apply a forfeiture estimate and will recognize a credit in compensation expense to the extent awards are forfeited. For the three and nine months ended September 30, 2017 (Successor) the Company recognized $12.3 million and $33.5 million, respectively, of share-based compensation expense. For the period from September 10, 2016 through September 30, 2016 (Successor), the period from July 1, 2016 through September 9, 2016 (Predecessor) and the period from January 1, 2016 through September 9, 2016 (Predecessor) the Company recognized $13.2 million, $1.2 million, and $4.9 million, respectively, of share-based compensation expense. These were recorded as a component of " General and administrative " on the unaudited condensed consolidated statements of operations. Stock Options From time to time, the Company grants stock options under its incentive 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. During the nine months ended September 30, 2017 (Successor), the Company granted stock options under the 2016 Incentive Plan covering 1.8 million shares of common stock to employees of the Company. These stock options have exercise prices ranging from $6.55 to $7.75 per share with a weighted average exercise price of $7.72 per share. At September 30, 2017 (Successor), the Company had $17.3 million of unrecognized compensation expense related to non-vested stock options to be recognized over a weighted-average period of 1.5 years. During the period from September 10, 2016 through September 30, 2016 (Successor), the Company granted stock options under the 2016 Incentive Plan covering 5.0 million shares of common stock to employees of the Company. These stock options have an exercise price of $9.24 per share with a weighted average exercise price of $9.24 per share. At September 30, 2016 (Successor), the Company had $29.8 million of unrecognized compensation expense related to non-vested stock options to be recognized over a weighted-average period of 1.9 years. Immediately prior to emergence from chapter 11 bankruptcy, all outstanding stock options under the Predecessor Incentive Plan were cancelled. Refer to Note 2, "Reorganization," for further details. Restricted Stock From time to time, the Company grants shares of restricted stock to employees and non-employee directors of the Company. Employee shares typically 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. Certain shares granted under the 2016 Incentive Plan specifically related to the Company's emergence from chapter 11 bankruptcy vested on or before September 30, 2017. During the nine months ended September 30, 2017 (Successor), the Company granted 2.0 million shares of restricted stock under the 2016 Incentive Plan to employees and non-employee directors of the Company. These restricted shares were granted at prices ranging from $6.08 to $7.75 per share with a weighted average price of $7.07 per share. At September 30, 2017 (Successor), the Company had $5.7 million of unrecognized compensation expense related to non-vested restricted stock awards to be recognized over a weighted-average period of 1.3 years. During the period from September 10, 2016 through September 30, 2016 (Successor), the Company granted 2.6 million shares of restricted stock under the 2016 Incentive Plan to employees and non-employee directors of the Company. These restricted shares were granted at prices ranging from $7.82 to $9.24 per share with a weighted average price of $9.17 per share. At September 30, 2016 (Successor), the Company had $12.0 million of unrecognized compensation expense related to non-vested restricted stock awards to be recognized over a weighted-average period of 0.9 years. Immediately prior to emergence from chapter 11 bankruptcy, all restricted stock awards granted under the Predecessor Incentive Plan were vested. Refer to Note 2, "Reorganization," for further details.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Sep. 30, 2017
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE	12. EARNINGS PER COMMON SHARE On September 9, 2016, upon emergence from chapter 11 bankruptcy, the Company's Predecessor equity was cancelled and new equity was issued. Refer to Note 2, "Reorganization," for further details. The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts): Successor Predecessor Period from Period from Three Months Basic: Net income (loss) available to common stockholders $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic number of common shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic net income (loss) per share of common stock $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted: Net income (loss) available to common stockholders $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest on Convertible Note, net — — Series A preferred dividends — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) available to common stockholders after assumed conversions $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic number of common shares outstanding Common stock equivalent shares representing shares issuable upon: Exercise of stock options Anti-dilutive Anti-dilutive Anti-dilutive Exercise of February 2012 Warrants — — Anti-dilutive Exercise of warrants Anti-dilutive Anti-dilutive — Vesting of restricted shares Anti-dilutive Anti-dilutive Vesting of performance units — — — Conversion of preferred stock — — — Conversion of Convertible Note — — Conversion of Series A Preferred Stock — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average diluted number of common shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted net income (loss) per share of common stock $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor Predecessor Period from Period from Nine Months Basic: Net income (loss) available to common stockholders $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic number of common shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic net income (loss) per share of common stock $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted: Net income (loss) available to common stockholders $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic number of common shares outstanding Common stock equivalent shares representing shares issuable upon: Exercise of stock options Anti-dilutive Anti-dilutive Anti-dilutive Exercise of February 2012 Warrants — — Anti-dilutive Exercise of warrants Anti-dilutive Anti-dilutive — Vesting of restricted shares Anti-dilutive Anti-dilutive Vesting of performance units — — — Conversion of preferred stock Anti-dilutive — Conversion of Convertible Note — — Anti-dilutive Conversion of Series A Preferred Stock — — Anti-dilutive ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average diluted number of common shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted net income (loss) per share of common stock $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common stock equivalents, including stock options, restricted shares, warrants, and preferred stock totaling 11.7 million and 19.0 million shares for the three and nine months ended September 30, 2017 (Successor), respectively, were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive. Common stock equivalents, including stock options, warrants, restricted shares, convertible debt and preferred stock totaling 11.1 million, 11.9 million and 43.6 million shares for the period from September 10, 2016 through September 30, 2016 (Successor), the period from July 1, 2016 through September 9, 2016 (Predecessor), and the period from January 1, 2016 through September 9, 2016 (Predecessor), respectively, were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive.

ADDITIONAL FINANCIAL STATEMENT

ADDITIONAL FINANCIAL STATEMENT INFORMATION	9 Months Ended
	Sep. 30, 2017
ADDITIONAL FINANCIAL STATEMENT INFORMATION
ADDITIONAL FINANCIAL STATEMENT INFORMATION	13. ADDITIONAL FINANCIAL STATEMENT INFORMATION Certain balance sheet amounts are comprised of the following (in thousands): Successor September 30, 2017 December 31, 2016 Accounts receivable: Oil, natural gas and natural gas liquids revenues $ $ Joint interest accounts Accrued settlements on derivative contracts Affiliated partnership Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prepaids and other: Prepaids $ $ Income tax receivable — Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Funds in escrow and other: Funds in escrow $ $ Debt issuance costs — Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued liabilities: Trade payables $ $ Accrued oil and natural gas capital costs Revenues and royalties payable Accrued interest expense Accrued employee compensation Accrued lease operating expenses Drilling advances from partners Income tax payable — Affiliated partnership Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2017
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	14. SUBSEQUENT EVENTS Divestiture of Williston Basin Non-Operated Assets On September 19, 2017 (Successor), certain wholly owned subsidiaries of the Company entered into an Agreement of Sale and Purchase with a privately-owned company pursuant to which the Company agreed to sell its non-operated properties and related assets located in the Williston Basin in North Dakota and Montana (the Non-Operated Williston Assets) for a total adjusted purchase price of approximately $105.2 million, subject to post-closing adjustments. The effective date of the transaction is April 1, 2017 and the transaction closed on November 9, 2017. The purchase price is subject to post-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. Upon the closing of the sale of the Non-Operated Williston Assets, the borrowing base on the Company's Senior Credit Agreement was reduced from $140.0 million to $100.0 million.

FINANCIAL STATEMENT PRESENTAT21

FINANCIAL STATEMENT PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2017
FINANCIAL STATEMENT PRESENTATION
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation Halcón Resources Corporation (Halcón or the Company) is an independent energy company focused on the acquisition, production, exploration and development of onshore liquids-rich oil and natural gas assets in the United States. The unaudited condensed consolidated financial statements include the accounts of all majority-owned, controlled subsidiaries. The Company operates in one segment which focuses on oil and natural gas acquisition, production, exploration and development. The Company's oil and natural gas properties are managed as a whole rather than through discrete operating areas. Operational information is tracked by operating area; however, financial performance is assessed as a whole. Allocation of capital is made across the Company's entire portfolio without regard to operating area. All intercompany accounts and transactions have been eliminated. These unaudited condensed consolidated financial statements reflect, in the opinion of the Company's management, all adjustments, consisting of normal and recurring adjustments, necessary to present fairly the financial position as of, and the results of operations for, the periods presented. During interim periods, Halcón follows the accounting policies disclosed in its Annual Report on Form 10-K, as filed with the United States Securities and Exchange Commission (SEC) on March 1, 2017. Please refer to the notes in the 2016 Annual Report on Form 10-K when reviewing interim financial results, though, as described below, such prior financial statements may not be comparable to the interim financial statements due to the adoption of fresh-start accounting on September 9, 2016.
Emergence from Voluntary Reorganization under Chapter 11	Emergence from Voluntary Reorganization under Chapter 11 On July 27, 2016 (the Petition Date), the Company and certain of its subsidiaries (the Halcón Entities) filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court in the District of Delaware (the Bankruptcy Court) to pursue a joint prepackaged plan of reorganization (the Plan). On September 8, 2016, the Bankruptcy Court entered an order confirming the Plan and on September 9, 2016, the Plan became effective (the Effective Date) and the Halcón Entities emerged from chapter 11 bankruptcy. The Company's subsidiary, HK TMS, LLC which was divested on September 30, 2016, was not part of the chapter 11 bankruptcy filings. See Note 2, "Reorganization," for further details on the Company's chapter 11 bankruptcy and the Plan and Note 4, "Acquisitions and Divestitures," for further details on the divestiture of HK TMS, LLC. Upon emergence from chapter 11 bankruptcy, the Company adopted fresh-start accounting in accordance with provisions of the Financial Accounting Standards Board's (FASB) Accounting Standards Codification (ASC) 852, "Reorganizations" (ASC 852) which resulted in the Company becoming a new entity for financial reporting purposes on the Effective Date. Upon the adoption of fresh-start accounting, the Company's assets and liabilities were recorded at their fair values as of the fresh-start reporting date. As a result of the adoption of fresh-start accounting, the Company's unaudited condensed consolidated financial statements subsequent to September 9, 2016 are not comparable to its unaudited condensed consolidated financial statements prior to, and including, September 9, 2016. See Note 3, "Fresh-start Accounting," for further details on the impact of fresh-start accounting on the Company's unaudited condensed consolidated financial statements. References to "Successor" or "Successor Company" relate to the financial position and results of operations of the reorganized Company subsequent to September 9, 2016. References to "Predecessor" or "Predecessor Company" relate to the financial position and results of operations of the Company prior to, and including, September 9, 2016.
Use of Estimates	Use of Estimates The preparation of the Company's unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods. Estimates and assumptions that, in the opinion of management of the Company, are significant include oil and natural gas revenue 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, including estimates of Reorganization Value, Enterprise Value and the fair value of assets and liabilities recorded as a result of the adoption of fresh-start accounting, plus the estimated fair values of assets acquired and liabilities assumed in connection with the Pecos County Acquisition and the fair value of assets sold in connection with the Williston Divestiture and the El Halcón Divestiture (see Note 4, "Acquisitions and Divestitures," for information on the Pecos County Acquisition, the Williston Divestiture and the El Halcón Divestiture), including the gains on sales recorded, and income taxes. The Company bases its estimates and judgments on historical experience and on various other assumptions and information believed to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be predicted with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company's operating environment changes. Actual results may differ from the estimates and assumptions used in the preparation of the Company's unaudited condensed consolidated financial statements. Interim period results are not necessarily indicative of results of operations or cash flows for the full year and, accordingly, certain information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States has been condensed or omitted. The Company has evaluated events or transactions through the date of issuance of these unaudited condensed consolidated financial statements.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts The Company's accounts receivable are primarily receivables from joint interest owners and oil and natural gas purchasers. Accounts receivable are recorded at the amount due, less an allowance for doubtful accounts, when applicable. The Company establishes provisions for losses on accounts receivable if it determines that collection of all or part of the outstanding balance is doubtful. The Company regularly reviews collectability and establishes or adjusts the allowance for doubtful accounts as necessary using the specific identification method. There were no significant allowances for doubtful accounts as of September 30, 2017 (Successor) or December 31, 2016 (Successor).
Other Operating Property and Equipment	Other Operating Property and Equipment Other operating property and equipment were recorded at fair value as a result of fresh-start accounting on September 9, 2016 and additions since that date are recorded at cost. Depreciation is calculated using the straight-line method over the following estimated useful lives: gas gathering systems, thirty years; water disposal and recycling facilities, twenty years; compressed natural gas facility, ten years; automobiles and computers, three years; computer software, fixtures, furniture and equipment, five years or the lesser of the lease term; trailers, seven years; heavy equipment, eight to ten years; 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. Refer to Note 4, "Acquisitions and Divestitures," for a discussion of other operating property and equipment acquired and divested during the period. The Company reviews its other operating property and equipment for impairment in accordance with ASC 360, Property, Plant, and Equipment (ASC 360). ASC 360 requires the Company to evaluate other operating property and equipment 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 other operating property and equipment at each reporting period to determine whether events and circumstances warrant a revision to the remaining depreciation periods. For the period from January 1, 2016 through September 9, 2016 (Predecessor), the Company recorded a non-cash impairment charge of $28.1 million in "Other operating property and equipment impairment" in the Company's unaudited condensed consolidated statements of operations and in "Other operating property and equipment" in the Company's unaudited condensed consolidated balance sheets related to $32.8 million gross investments in gas gathering infrastructure that were deemed non-economical due to a shift in exploration, drilling and developmental plans in a low commodity price environment. 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 infrastructure was based on an income approach that estimated future cash flows associated with those assets over the remaining asset lives. 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 infrastructure being classified as Level 3.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In January 2017, the FASB issued Accounting Standards Update (ASU) No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01). For public business entities, ASU 2017-01 is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2017. The amendments in this ASU should be applied prospectively on or after the effective date. The ASU was issued to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions of assets or businesses. The Company is in the process of assessing the effects of the application of the new guidance. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) (ASU 2016-15). For public business entities, ASU 2016-15 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 and early adoption is permitted. The areas for simplification in this ASU involve addressing eight specific classification issues in the statement of cash flows. An entity should apply the amendments in this ASU using a retrospective transition method. The Company is in the process of assessing the effects of the application of the new guidance. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (ASU 2016-02). For public business entities, ASU 2016-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018 and early adoption is permitted. The FASB issued ASU 2016-02 to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. An entity should apply the amendments in this ASU on a modified retrospective basis. The transition will require application of the new guidance at the beginning of the earliest comparative period presented in the financial statements. The Company is in the early stages of assessing the effects of the application of the new guidance and the financial statement and disclosure impacts. The Company will adopt ASU 2016-02 no later than January 1, 2019. 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 amounts that reflect 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. In March 2016, ASU 2014-09 was updated with ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (ASU 2016-08), which provides further clarification on the principal versus agent evaluation. ASU 2014-09 is required to be adopted using either the full retrospective approach, with all prior periods presented adjusted, or the modified retrospective approach, with a cumulative adjustment to retained earnings on the opening balance sheet and is effective for annual reporting periods, and interim periods within that reporting period, beginning after December 15, 2017. Early adoption is not permitted. The Company is in the process of assessing its contracts with customers and evaluating the effects of the new guidance on its financial statements and disclosures. This process includes evaluating certain components of its natural gas gathering and processing agreements to determine whether changes to revenues and expenses will be appropriate when complying with the new guidance. The adoption is not expected to have a significant impact on the Company's net income or cash flows from operations. The Company will adopt ASU 2014-09 effective January 1, 2018.

FRESH-START ACCOUNTING (Tables)

FRESH-START ACCOUNTING (Tables)	9 Months Ended
	Sep. 30, 2017
FRESH-START ACCOUNTING
Schedule of Enterprise value to estimated fair value of the Successor's common stock	The following table reconciles the Company's Enterprise Value to the estimated fair value of the Successor's common stock as of September 9, 2016 (in thousands): September 9, Enterprise Value $ Plus: Cash Less: Fair value of debt ) Less: Fair value of redeemable noncontrolling interest ) Less: Fair value of other long-term liabilities ) Less: Fair value of warrants ) ​ ​ ​ ​ ​ Fair Value of Successor common stock $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of Enterprise Value to its Reorganization Value	The following table reconciles the Company's Enterprise Value to its Reorganization Value as of September 9, 2016 (in thousands): September 9, Enterprise Value $ Plus: Cash Plus: Current liabilities Plus: Noncurrent asset retirement obligation ​ ​ ​ ​ ​ Reorganization Value of Successor assets $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of reorganization balance sheet and fresh-start accounting adjustments	Amounts included in the table below are rounded to thousands. As of September 9, 2016 Predecessor Reorganization Fresh-Start Successor Current assets: Cash $ $ ) (1) $ — $ Accounts receivable — — Receivables from derivative contracts — — Restricted cash — — Prepaids and other — ) (7) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil and natural gas properties (full cost method): Evaluated — ) (8) Unevaluated — ) (8) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross oil and natural gas properties — ) Less—accumulated depletion ) — (8) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net oil and natural gas properties — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other operating property and equipment: Other operating property and equipment — ) (9) Less—accumulated depreciation ) — (9) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net other operating property and equipment — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other noncurrent assets: Receivables from derivative contracts — — Funds in escrow and other — (10) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: Accounts payable and accrued liabilities $ $ (2) $ — $ Liabilities from derivative contracts — — Other — (11)(12) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt, net — ) (13) Liabilities subject to compromise ) (3) — — Other noncurrent liabilities: Liabilities from derivative contracts — — Asset retirement obligations — ) (12) Other — (11)(14) Commitments and contingencies Mezzanine equity: Redeemable noncontrolling interest — ) (14) Stockholders' equity: Preferred stock (Predecessor) — — (4) — — Common Stock (Predecessor) ) (4) — — Common Stock (Successor) — (5) — Additional paid-in capital (Predecessor) ) (4) — — Additional paid-in capital (Successor) — (5) — Retained earnings (accumulated deficit) ) (6) ) (15) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total stockholders' equity ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and stockholders' equity $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reorganization adjustments (1) The table below details cash payments as of September 9, 2016, pursuant to the terms of the Plan described in Note 2, " Reorganization, " (in thousands): Payment to Third Lien Noteholders $ Payment to Unsecured Noteholders Payment to Convertible Noteholder Payment to Preferred Holders ​ ​ ​ ​ ​ Total Uses $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2) In connection with the chapter 11 bankruptcy, the Company modified and rejected certain office lease arrangements and paid approximately $3.4 million for these modifications and rejections subsequent to the emergence from chapter 11 bankruptcy. This amount also reflects $10.3 million paid to the Company's restructuring advisors subsequent to the emergence from chapter 11 bankruptcy. (3) Liabilities subject to compromise were as follows (in thousands): 13.0% senior secured third lien notes due 2022 $ 9.25% senior notes due 2022 8.875% senior notes due 2021 9.75% senior notes due 2020 8.0% convertible note due 2020 Accrued interest Office lease modification and rejection fees ​ ​ ​ ​ ​ Liabilities subject to compromise Fair value of equity and warrants issued to Third Lien Noteholders, Unsecured Noteholders and Convertible Noteholder ) Cash payments to Third Lien Noteholders, Unsecured Noteholders and Convertible Noteholder ) Office lease modification and rejection fees ) ​ ​ ​ ​ ​ Gain on settlement of Liabilities subject to compromise $ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4) Reflects the cancellation of Predecessor equity, as follows (in thousands): Predecessor Company stock $ Fair value of equity issued to Predecessor common stockholders ) Cash payment to Preferred Holders ) ​ ​ ​ ​ ​ Cancellation of Predecessor Company equity $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5) Reflects the issuance of Successor equity. In accordance with the Plan, the Successor Company issued 3.6 million shares of common stock to the Predecessor Company's existing common stockholders, 68.8 million shares of common stock to the Third Lien Noteholders, 14.0 million shares of common stock to the Unsecured Noteholders, and 3.6 million shares of common stock to the Convertible Noteholder. This amount is subject to dilution by warrants issued to the Unsecured Noteholders and the Convertible Noteholder totaling 4.7 million shares with an exercise price of $14.04 per share and a term of four years. The fair value of the warrants was estimated at $3.52 per share using a Black-Scholes-Merton valuation model. (6) The table below reflects the cumulative effect of the reorganization adjustments discussed above (in thousands): Gain on settlement of Liabilities subject to compromise $ Accrued reorganization items ) Cancellation of Predecessor Company equity ​ ​ ​ ​ ​ Net impact to retained earnings (accumulated deficit) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fresh-start accounting adjustments (7) Reflects the reclassification of tubulars and well equipment to " Oil and natural gas properties ." (8) In estimating the fair value of its oil and natural gas properties, the Company used a combination of the income and market approaches. For purposes of estimating the fair value of the Company's proved, probable and possible reserves, an income approach was used which estimated fair value based on the anticipated cash flows associated with the Company's reserves, risked by reserve category and discounted using a weighted average cost of capital rate of 10.5% for proved reserves and 12.5% for probable and possible reserves. The proved reserve locations were limited to wells expected to be drilled in the Company's five year development plan. Weighted average commodity prices utilized in the determination of the fair value of oil and natural gas properties were $72.30 per barrel of oil, $3.50 per MMBtu of natural gas and $12.00 per barrel of natural gas liquids, after adjustment for transportation fees and regional price differentials. Base pricing was derived from an average of forward strip prices and analysts' estimated prices. In estimating the fair value of the Company's unproved acreage that was not included in the valuation of probable and possible reserves, 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. (9) In estimating the fair value of its other operating property and equipment, the Company used a combination of the income, cost, and market approaches. For purposes of estimating the fair value of its other operating property and equipment, an income approach was used that estimated future cash flows associated with the assets over the remaining useful lives. The valuation included such inputs as estimated future production, gathering and compression revenues, and operating expenses that were discounted at a weighted average cost of capital rate of 9.5%. For purposes of estimating the fair value of its other operating assets, the Company used a combination of the market and cost approaches. A market approach was relied upon to value land and computer equipment, and in this valuation approach, recent transactions of similar assets were utilized to determine the value from a market participant perspective. For the remaining other operating assets, a cost approach was used. The estimation of fair value under the cost approach was based on current replacement costs of the assets, less depreciation based on the estimated economic useful lives of the assets and age of the assets. (10) Reflects the adjustment of the Company's equity method investment in SBE Partners, L.P. to fair value based on an income approach, which calculated the discounted cash flows of the Company's share of the partnership's interest in oil and gas proved reserves. The anticipated cash flows of the reserves were risked by reserve category and discounted at 10.5%. Weighted average commodity prices utilized in the determination of the fair value of oil and natural gas properties were $72.30 per barrel of oil, $3.50 per MMBtu of natural gas and $12.00 per barrel of oil equivalent of natural gas liquids, after adjustment for transportation fees and regional price differentials. Base pricing was derived from an average of forward strip prices and analysts' estimated prices. (11) Records an intangible liability of approximately $8.3 million, $4.5 million of which was recorded as current, to adjust the Company's active rig contract to fair value at September 9, 2016. The intangible liability will be amortized over the remaining life of the contract. (12) Reflects the adjustment of asset retirement obligations to fair value using estimated plugging and abandonment costs as of September 9, 2016, adjusted for inflation and then discounted at the appropriate credit-adjusted risk free rate ranging from 5.5% to 6.6% depending on the life of the well. The fair value of asset retirement obligations was estimated at $32.5 million, approximately $0.3 million of which was recorded as current. Refer to Note 9, "Asset Retirement Obligations," for further details of the Company's asset retirement obligations. (13) Reflects the adjustment of the 2020 Second Lien Notes and the 2022 Second Lien Notes to fair value. The fair value estimate was based on quoted market prices from trades of such debt on September 9, 2016. Refer to Note 6, "Debt," for definitions of and further information regarding the 2020 Second Lien Notes and 2022 Second Lien Notes. (14) Reflects the adjustment of the Company's redeemable noncontrolling interest and related embedded derivative of HK TMS, LLC to fair value. The fair value of the redeemable noncontrolling interest was estimated at $41.1 million and the embedded derivative was estimated at zero. For purposes of estimating the fair values, an income approach was used that estimated fair value based on the anticipated cash flows associated with HK TMS, LLC's proved reserves, risked by reserve category and discounted using a weighted average cost of capital rate of 12.5%. The value of the redeemable noncontrolling interest was further reduced by a probability factor of the potential assignment of the common shares of HK TMS, LLC to Apollo Global Management, which occurred subsequent to the fresh-start date. Refer to Note 4, "Acquisitions and Divestitures," for further information regarding the divestiture of HK TMS, LLC on September 30, 2016. (15) Reflects the cumulative effect of the fresh-start accounting adjustments discussed above.
Schedule of net cash payments pursuant to the terms of the Reorganization Plan	The table below details cash payments as of September 9, 2016, pursuant to the terms of the Plan described in Note 2, " Reorganization, " (in thousands): Payment to Third Lien Noteholders $ Payment to Unsecured Noteholders Payment to Convertible Noteholder Payment to Preferred Holders ​ ​ ​ ​ ​ Total Uses $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of Liabilities subject to compromise, settled	Liabilities subject to compromise were as follows (in thousands): 13.0% senior secured third lien notes due 2022 $ 9.25% senior notes due 2022 8.875% senior notes due 2021 9.75% senior notes due 2020 8.0% convertible note due 2020 Accrued interest Office lease modification and rejection fees ​ ​ ​ ​ ​ Liabilities subject to compromise Fair value of equity and warrants issued to Third Lien Noteholders, Unsecured Noteholders and Convertible Noteholder ) Cash payments to Third Lien Noteholders, Unsecured Noteholders and Convertible Noteholder ) Office lease modification and rejection fees ) ​ ​ ​ ​ ​ Gain on settlement of Liabilities subject to compromise $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of cancellation of predecessor equity	Reflects the cancellation of Predecessor equity, as follows (in thousands): Predecessor Company stock $ Fair value of equity issued to Predecessor common stockholders ) Cash payment to Preferred Holders ) ​ ​ ​ ​ ​ Cancellation of Predecessor Company equity $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of cumulative effect of the reorganization adjustments	The table below reflects the cumulative effect of the reorganization adjustments discussed above (in thousands): Gain on settlement of Liabilities subject to compromise $ Accrued reorganization items ) Cancellation of Predecessor Company equity ​ ​ ​ ​ ​ Net impact to retained earnings (accumulated deficit) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of the net reorganization items	The following table summarizes the net reorganization items (in thousands): Successor Predecessor Period from Period from Gain on settlement of Liabilities subject to compromise $ — $ Fresh start adjustments — ) Reorganization professional fees and other ) ) Write-off debt discounts/premiums and debt issuance costs — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (loss) on reorganization items $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

ACQUISITIONS AND DIVESTITURES (

ACQUISITIONS AND DIVESTITURES (Tables)	9 Months Ended
	Sep. 30, 2017
ACQUISITIONS AND DIVESTITURES
Summary of the consideration paid for acquisition and the estimated values of assets acquired and liabilities assumed	The following table summarizes the consideration paid to acquire the Pecos County Assets, as well as the estimated values of assets acquired and liabilities assumed as of the acquisition date (in thousands): Cash consideration paid to Samson at closing (1) $ Less: Post-effective closing date adjustments (2) ) ​ ​ ​ ​ ​ Final consideration transferred $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Plus: Estimated Fair Value of Liabilities Assumed: Current liabilities $ Asset retirement obligations ​ ​ ​ ​ ​ Amount attributable to liabilites assumed ​ ​ ​ ​ ​ Total purchase price plus liabilities assumed $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Estimated Fair Value of Assets Acquired: Evaluated oil and natural gas properties (3)(4) $ Unevaluated oil and natural gas properties (3)(4) Other operating property and equipment (5) ​ ​ ​ ​ ​ Amount attributable to assets acquired $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Represents amount of cash consideration, adjusted for customary closing items, for the purchase of the Pecos County Assets funded by the issuance of approximately $400.1 million of new 8% automatically convertible preferred stock and borrowings under the Senior Credit Agreement. (2) In accordance with the purchase agreement, the effective date of the acquisition was November 1, 2016 and therefore revenues, expenses and related capital expenditures from November 1, 2016 through February 28, 2017, the closing date of the Pecos County Acquisition, have been reflected as adjustments to the purchase price consideration. (3) In estimating the fair value of the Pecos County Assets' oil and natural gas properties, the Company used an income approach. For purposes of estimating the fair value of the proved, probable and possible reserves, an income approach was used which estimated fair value based on the anticipated cash flows associated with the Pecos County Assets' estimated reserves risked by reserve category and discounted using a weighted average cost of capital rate of 10.0% for proved reserves and 12.0% for probable and possible reserves. The proved reserve locations were limited to wells expected to be drilled in the Company's five-year development plan. This estimation includes the use of unobservable inputs, such as estimated future production, oil and natural gas revenues and expenses. The use of these unobservable inputs results in the fair value estimate of the Pecos County Assets being classified as Level 3. (4) Weighted average commodity prices utilized in the determination of the fair value of oil and natural gas properties were $76.10 per barrel of oil, $4.14 per Mcf of natural gas and $29.48 per barrel of oil equivalent of natural gas liquids, after adjustment for transportation fees and regional price differentials. Base pricing was derived from an average of forward strip prices and research analysts' estimated prices. (5) In estimating the fair value of the Pecos County Assets' other operating property and equipment, the Company used a combination of the cost and market approaches. A market approach was relied upon to value the land, heavy equipment and vehicles, and in this valuation approach, recent transactions of similar assets were utilized to determine the value from a market participant perspective. For the remaining other operating assets, a cost approach was used. The estimation of fair value under the cost approach was based on current replacement costs of the assets, less depreciation based on the estimated economic useful lives of the assets and age of the assets.
Schedule of pro forma financial information	Successor Predecessor Nine Months Period from Period from (Unaudited) (Unaudited) (Unaudited) Revenue $ $ $ Net income (loss) ) Net income (loss) available to common stockholders ) ) Pro forma net income (loss) per share of common stock: Basic $ $ ) $ ) Diluted $ $ ) $ )

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2017
DEBT
Schedule of long-term debt	Long-term debt as of September 30, 2017 (Successor) and December 31, 2016 (Successor) consisted of the following (in thousands): Successor September 30, December 31, Senior revolving credit facility $ — $ 8.625% senior secured second lien notes due 2020 (1) — 12.0% senior secured second lien notes due 2022 (2) — 6.75% senior notes due 2025 (3) — ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) On February 16, 2017, the Company repurchased approximately 41% of the outstanding aggregate principal amount of its 8.625% senior secured second lien notes due 2020 with proceeds from the issuance of new 6.75% senior unsecured notes due 2025. The remaining aggregate principal amount was redeemed on March 20, 2017. Amount was net of a $27.4 million unamortized discount at December 31, 2016 (Successor). Refer to "8.625% Senior Secured Second Lien Notes" below for further details. (2) On September 7, 2017, the Company issued an irrevocable notice to redeem the outstanding aggregate principal amount of its 12.0% senior secured second lien notes due 2022 on October 7, 2017. Amount is net of a $6.8 million unamortized discount at December 31, 2016 (Successor). Refer to "12.0% Senior Secured Second Lien Notes" below for further details. (3) On February 16, 2017, the Company issued $850.0 million aggregate principal amount of new 6.75% senior unsecured notes due 2025. On October 10, 2017, the Company repurchased $425.0 million principal amount of the 2025 Notes at 103.0% of par plus accrued and unpaid interest. The repurchased 2025 Notes are presented in "Current portion of long-term debt, net" on the unaudited condensed consolidated balance sheet at September 30, 2017. Amount is net of $8.3 million unamortized discount and $7.8 million unamortized debt issuance costs at September 30, 2017 (Successor). Refer to "6.75% Senior Notes" below for further details.
Schedule of percentages of principal amount at which notes may be redeemed, by applicable redemption dates	Year Percentage 2020 2021 2022 2023 and thereafter

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2017
FAIR VALUE MEASUREMENTS
Schedule of fair value of the Company's financial assets and liabilities	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 September 30, 2017 (Successor) and December 31, 2016 (Successor) (in thousands): Successor September 30, 2017 Level 1 Level 2 Level 3 Total Assets Receivables from derivative contracts $ — $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities Liabilities from derivative contracts $ — $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2016 Level 1 Level 2 Level 3 Total Assets Receivables from derivative contracts $ — $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities Liabilities from derivative contracts $ — $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of the estimated fair values of the Company's fixed interest rate debt instruments	The following table presents the estimated fair values of the Company's fixed interest rate debt instruments as of September 30, 2017 (Successor) and December 31, 2016 (Successor) (excluding discounts and debt issuance costs and including the current portion) (in thousands): Successor September 30, December 31, Debt Principal Estimated Principal Estimated 8.625% senior secured second lien notes $ — $ — $ $ 12.0% senior secured second lien notes — — 6.75% senior notes — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

DERIVATIVE AND HEDGING ACTIVI26

DERIVATIVE AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2017
DERIVATIVE AND HEDGING ACTIVITIES
Summary of location and fair value of derivative contracts	The following table summarizes the location and fair value amounts of all derivative contracts in the unaudited condensed consolidated balance sheets (in thousands): Asset derivative contracts Liability derivative contracts Successor Successor Derivatives not Balance sheet September 30, December 31, Balance sheet September 30, December 31, Commodity contracts Current assets—receivables from derivative contracts $ $ Current liabilities—liabilities from derivative contracts $ ) $ ) Commodity contracts Other noncurrent assets—receivables from derivative contracts — Other noncurrent liabilities—liabilities from derivative contracts ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivatives not designated as hedging contracts under ASC 815 $ $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of the location and amounts of the Company's realized and unrealized gains and losses on derivative contracts	The following table summarizes the location and amounts of the Company's realized and unrealized gains and losses on derivative contracts in the Company's unaudited condensed consolidated statements of operations (in thousands): Amount of gain or (loss) recognized in Successor Predecessor Period from Period from Three Location of gain or (loss) recognized in Derivatives not designated as hedging Commodity contracts: Unrealized gain (loss) on commodity contracts Other income (expenses)—net gain (loss) on derivative contracts $ ) $ ) $ ) Realized gain (loss) on commodity contracts Other income (expenses)—net gain (loss) on derivative contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total net gain (loss) on derivative contracts $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain or (loss) recognized in Successor Predecessor Period from Period from Nine Months Location of gain or (loss) recognized in Derivatives not designated as hedging Commodity contracts: Unrealized gain (loss) on commodity contracts Other income (expenses)—net gain (loss) on derivative contracts $ $ ) $ ) Realized gain (loss) on commodity contracts Other income (expenses)—net gain (loss) on derivative contracts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total net gain (loss) on derivative contracts $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of open derivative contracts	At September 30, 2017 (Successor) and December 31, 2016 (Successor), the Company had the following open crude oil and natural gas derivative contracts: Successor September 30, 2017 Floors Ceilings Basis Differential Period Instrument Commodity Volume in Price / Weighted Price / Weighted Price / Weighted October 2017 - December 2017 Collars Natural Gas $ $ $ $ $ — $ — October 2017 - December 2017 Collars Crude Oil 51.07 - 60.00 56.07 - 75.00 November 2017 - December 2017 Collars Crude Oil January 2018 - December 2018 Basis Swap Crude Oil (1.05) - (1.50) ) January 2018 - December 2018 Collars Crude Oil 45.00 - 53.00 50.00 - 60.00 January 2018 - December 2018 Collars Natural Gas 3.00 - 3.03 3.22 - 3.38 April 2018 - December 2018 Basis Swap Crude Oil ) April 2018 - December 2018 Collars Crude Oil July 2018 - December 2018 Basis Swap Crude Oil (0.98) - (1.18) ) July 2018 - December 2018 Collars Crude Oil January 2019 - March 2019 Collars Crude Oil January 2019 - December 2019 Basis Swap Crude Oil (0.98) - (1.33) ) Successor December 31, 2016 Floors Ceilings Period Instrument Commodity Volume in Price / Weighted Price / Weighted January 2017 - December 2017 Collars Natural Gas $ 3.15 - $3.26 $ $ 3.50 - $3.76 $ January 2017 - December 2017 Collars Crude Oil 47.00 - 60.00 52.00 - 76.84 January 2018 - December 2018 Collars Crude Oil
Schedule of potential effects of master netting arrangements on the fair value of derivative contracts	The following table shows the potential effects of master netting arrangements on the fair value of the Company's derivative contracts (in thousands): Derivative Assets Derivative Liabilities Successor Successor Offsetting of Derivative Assets and Liabilities September 30, December 31, September 30, December 31, Gross Amounts Presented in the Consolidated Balance Sheet $ $ $ ) $ ) Amounts Not Offset in the Consolidated Balance Sheet ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Amount $ $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2017
ASSET RETIREMENT OBLIGATIONS
Schedule of activity related to ARO liability	The Company recorded the following activity related to its ARO liability (in thousands, inclusive of the current portion): Liability for asset retirement obligations as of December 31, 2016 (Sucessor) $ Liabilities settled and divested (1) ) Additions Acquisitions (1) Accretion expense Revisions in estimated cash flows ​ ​ ​ ​ ​ Liability for asset retirement obligations as of September 30, 2017 (Successor) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) See Note 4, "Acquisitions and Divestitures," for further information.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2017
COMMITMENTS AND CONTINGENCIES
Schedule of approximate future minimum lease payments for subsequent annual periods for all non-cancelable operating leases	Future obligations associated with the Company's operating leases are presented in the table below (in thousands): Remaining period in 2017 $ 2018 2019 2020 2021 Thereafter ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of commitments	As of September 30, 2017 (Successor), the Company has the following active drilling rig commitments (in thousands): Remaining period in 2017 $ 2018 2019 — 2020 — 2021 — Thereafter — ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of other contractual commitments for, among other things, stacking charges on certain drilling rig commitments	In the future, the Company expects to incur stacking charges/early termination fees on certain drilling rig commitments as follows (in thousands): Remaining period in 2017 $ 2018 2019 — 2020 2021 — Thereafter — ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2017
EARNINGS PER COMMON SHARE
Schedule of calculation of earnings (loss) per share	The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts): Successor Predecessor Period from Period from Three Months Basic: Net income (loss) available to common stockholders $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic number of common shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic net income (loss) per share of common stock $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted: Net income (loss) available to common stockholders $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest on Convertible Note, net — — Series A preferred dividends — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) available to common stockholders after assumed conversions $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic number of common shares outstanding Common stock equivalent shares representing shares issuable upon: Exercise of stock options Anti-dilutive Anti-dilutive Anti-dilutive Exercise of February 2012 Warrants — — Anti-dilutive Exercise of warrants Anti-dilutive Anti-dilutive — Vesting of restricted shares Anti-dilutive Anti-dilutive Vesting of performance units — — — Conversion of preferred stock — — — Conversion of Convertible Note — — Conversion of Series A Preferred Stock — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average diluted number of common shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted net income (loss) per share of common stock $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor Predecessor Period from Period from Nine Months Basic: Net income (loss) available to common stockholders $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic number of common shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic net income (loss) per share of common stock $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted: Net income (loss) available to common stockholders $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average basic number of common shares outstanding Common stock equivalent shares representing shares issuable upon: Exercise of stock options Anti-dilutive Anti-dilutive Anti-dilutive Exercise of February 2012 Warrants — — Anti-dilutive Exercise of warrants Anti-dilutive Anti-dilutive — Vesting of restricted shares Anti-dilutive Anti-dilutive Vesting of performance units — — — Conversion of preferred stock Anti-dilutive — Conversion of Convertible Note — — Anti-dilutive Conversion of Series A Preferred Stock — — Anti-dilutive ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average diluted number of common shares outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted net income (loss) per share of common stock $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

ADDITIONAL FINANCIAL STATEMEN30

ADDITIONAL FINANCIAL STATEMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2017
ADDITIONAL FINANCIAL STATEMENT INFORMATION
Schedule of additional financial statement information, balance sheet	Certain balance sheet amounts are comprised of the following (in thousands): Successor September 30, 2017 December 31, 2016 Accounts receivable: Oil, natural gas and natural gas liquids revenues $ $ Joint interest accounts Accrued settlements on derivative contracts Affiliated partnership Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prepaids and other: Prepaids $ $ Income tax receivable — Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Funds in escrow and other: Funds in escrow $ $ Debt issuance costs — Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued liabilities: Trade payables $ $ Accrued oil and natural gas capital costs Revenues and royalties payable Accrued interest expense Accrued employee compensation Accrued lease operating expenses Drilling advances from partners Income tax payable — Affiliated partnership Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

FINANCIAL STATEMENT PRESENTAT31

FINANCIAL STATEMENT PRESENTATION (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)segment	Dec. 31, 2016USD ($)
Basis of Presentation and Principles of Consolidation
Number of operating segments | segment	1
Allowance for doubtful accounts receivable | $	$ 0	$ 0

FINANCIAL STATEMENT PRESENTAT32

FINANCIAL STATEMENT PRESENTATION - PPE (Details) - USD ($) $ in Thousands	8 Months Ended	9 Months Ended
	Sep. 09, 2016	Sep. 30, 2017	Dec. 31, 2016
Other operating property and equipment
Gross investments	$ 38,071	$ 68,195	$ 38,617
Predecessor
Other operating property and equipment
Non-cash impairment charge	28,056
Gross investments	100,079
Gas gathering systems and equipment
Other operating property and equipment
Estimated useful life		30 years
Gas gathering systems and equipment | Predecessor
Other operating property and equipment
Non-cash impairment charge	28,100
Gross investments	$ 32,800
Water disposal and recycling facilities
Other operating property and equipment
Estimated useful life		20 years
Compressed natural gas facilities
Other operating property and equipment
Estimated useful life		10 years
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 | Minimum
Other operating property and equipment
Estimated useful life		8 years
Heavy equipment | Maximum
Other operating property and equipment
Estimated useful life		10 years
Buildings
Other operating property and equipment
Estimated useful life		20 years

REORGANIZATION (Details)

REORGANIZATION (Details) $ / shares in Units, $ in Thousands	Sep. 09, 2016USD ($)$ / shares	May 15, 2016USD ($)$ / shares	Sep. 09, 2016USD ($)$ / shares	Sep. 30, 2017USD ($)	Sep. 07, 2017USD ($)	Jul. 10, 2017	Dec. 31, 2016USD ($)	Dec. 21, 2015USD ($)	May 01, 2015USD ($)
Restructuring Support Agreement
Principal amount				$ 850,000			$ 812,826
8.625% senior secured second lien notes due 2020
Restructuring Support Agreement
Interest rate (as a percent)				8.625%			8.625%
Principal amount							$ 700,000
12.0% senior secured second lien notes due 2022
Restructuring Support Agreement
Interest rate (as a percent)				12.00%		12.00%	12.00%
Principal amount					$ 112,800		$ 112,826
Predecessor
Restructuring Support Agreement
Cash Payments Made To Preferred Holders			$ 11,100
Dividend rate (as a percent)	5.75%
Predecessor | Series A Preferred Stock
Restructuring Support Agreement
Dividend rate (as a percent)	5.75%
Predecessor | 8.625% senior secured second lien notes due 2020
Restructuring Support Agreement
Interest rate (as a percent)									8.625%
Principal amount									$ 700,000
Predecessor | 12.0% senior secured second lien notes due 2022
Restructuring Support Agreement
Interest rate (as a percent)								12.00%
Principal amount								$ 112,800
Predecessor | 13.0% senior secured third lien notes due 2022
Restructuring Support Agreement
Interest rate (as a percent)	13.00%		13.00%
Predecessor | 9.25% senior notes due 2022
Restructuring Support Agreement
Interest rate (as a percent)	9.25%		9.25%
Predecessor | 8.875% senior notes due 2021
Restructuring Support Agreement
Interest rate (as a percent)	8.875%		8.875%
Predecessor | 9.75% senior notes due 2020
Restructuring Support Agreement
Interest rate (as a percent)	9.75%		9.75%
Predecessor | 8.0% convertible note due 2020
Restructuring Support Agreement
Interest rate (as a percent)	8.00%		8.00%
Predecessor | Restructuring of indebtedness and capitalization | The Restructuring Support Agreement | Common Stock
Restructuring Support Agreement
Pro-forma equity of reorganized Entity (as a percent)	4		4
Predecessor | Restructuring of indebtedness and capitalization | The Restructuring Support Agreement | Series A Preferred Stock
Restructuring Support Agreement
Cash Payments Made To Preferred Holders	$ 11,100
Predecessor | Restructuring of indebtedness and capitalization | The Restructuring Support Agreement | 13.0% senior secured third lien notes due 2022
Restructuring Support Agreement
Pro-forma equity of reorganized Entity (as a percent)		76.5
Cash payment to noteholders		$ 33,800
Predecessor | Restructuring of indebtedness and capitalization | The Restructuring Support Agreement | 8.0% convertible note due 2020
Restructuring Support Agreement
Pro-forma equity of reorganized Entity (as a percent)	4		4
Cash payment to noteholders	$ 15,000
Warrants to purchase shares of pro-forma equity of reorganized Halcon (as a percent)	1.00%
Exercise price (in dollars per share) | $ / shares	$ 14.04		$ 14.04
Extension term	4 years
Predecessor | Restructuring of indebtedness and capitalization | The Restructuring Support Agreement | Senior Unsecured Notes Held by Certain Holders
Restructuring Support Agreement
Pro-forma equity of reorganized Entity (as a percent)		15.5
Cash payment to noteholders		$ 37,600
Warrants to purchase shares of pro-forma equity of reorganized Halcon (as a percent)		4.00%
Warrant term		4 years
Exercise price (in dollars per share) | $ / shares	$ 14.04	$ 14.04	$ 14.04

FRESH-START ACCOUNTING (Details

FRESH-START ACCOUNTING (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Sep. 09, 2016	Dec. 31, 2015
Fresh-Start Adjustment
Enterprise Value				$ 1,618,888
Plus: Cash	$ 989,347	$ 24	$ 2,011	13,943
Less: Fair value of debt				(1,016,160)
Less: Fair value of redeemable noncontrolling interest				(41,070)
Less: Fair value of other long-term liabilities				(4,478)
Less: Fair value of warrants				(16,691)
Fair Value of Successor common stock				554,432
Predecessor
Fresh-Start Adjustment
Plus: Cash				13,943	$ 8,026
Predecessor | Minimum
Fresh-Start Adjustment
Enterprise Value				$ 1,600,000
Predecessor | Maximum
Fresh-Start Adjustment
Maximum percentage of voting shares of emerging entity to qualify for fresh-start accounting under ASC 852 (as a percent)				50.00%
Enterprise Value				$ 1,800,000

FRESH-START ACCOUNTING-Enterpri

FRESH-START ACCOUNTING-Enterprise to Reorg Values (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Sep. 09, 2016
FRESH-START ACCOUNTING
Enterprise Value				$ 1,618,888
Plus: Cash	$ 989,347	$ 24	$ 2,011	13,943
Plus: Current liabilities				178,639
Plus: Noncurrent asset retirement obligation				32,156
Reorganization Value of Successor assets				$ 1,843,626

FRESH-START ACCOUNTING-Balance

FRESH-START ACCOUNTING-Balance sheet effects (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 10, 2016	Sep. 09, 2016	Dec. 31, 2015
Current assets:
Cash	$ 989,347	$ 24		$ 13,943
Accounts receivable	108,753	147,762		116,859
Receivables from derivative contracts	5,166	5,923		97,648
Restricted cash				17,164
Prepaids and other	12,171	6,940		7,629
Total current assets	1,115,437	160,649		253,243
Oil and natural gas properties (full cost method):
Evaluated	782,695	1,269,034		1,214,129
Unevaluated	757,401	316,439		332,115
Gross oil and natural gas properties	1,540,096	1,585,473		1,546,244
Less - accumulated depletion	(561,989)	(465,849)
Net oil and natural gas properties	978,107	1,119,624		1,546,244
Other operating property and equipment:
Other operating property and equipment	68,195	38,617		38,071
Less - accumulated depreciation	(2,967)	(1,107)
Net other operating property and equipment	65,228	37,510		38,071
Other noncurrent assets:
Receivables from derivative contracts	1,444			4,431
Funds in escrow and other	2,408	1,887		1,637
Total assets	2,162,624	1,319,670		1,843,626
Current liabilities:
Accounts payable and accrued liabilities	172,012	186,184		173,688
Liabilities from derivative contracts	3,279	16,434		102
Other	8	4,935		4,849
Total current liabilities	584,178	207,553		178,639
Long-term debt, net	408,879	964,653		1,016,160
Other noncurrent liabilities:
Liabilities from derivative contracts	2,175	486		525
Asset retirement obligations	5,116	31,985		32,156
Other	288	2,305		3,953
Commitments and contingencies
Mezzanine equity:
Redeemable noncontrolling interest				41,070
Stockholders' equity:
Common stock	15	9		9
Additional paid-in capital	1,013,141	592,663		571,114
Retained earnings (accumulated deficit)	148,832	(479,984)
Total stockholders' equity	1,161,988	112,688	$ 571,123	571,123
Total liabilities and stockholders' equity	$ 2,162,624	$ 1,319,670		1,843,626
Reorganization Adjustments
Current assets:
Cash				(97,521)
Total current assets				(97,521)
Other noncurrent assets:
Total assets				(97,521)
Current liabilities:
Accounts payable and accrued liabilities				13,688
Total current liabilities				13,688
Liabilities subject to compromise				2,007,703
Other noncurrent liabilities:
Commitments and contingencies
Stockholders' equity:
Common stock				9
Additional paid-in capital				571,114
Retained earnings (accumulated deficit)				4,613,289
Total stockholders' equity				1,896,494
Total liabilities and stockholders' equity				(97,521)
Fresh Start Adjustments
Current assets:
Prepaids and other				(1,332)
Total current assets				(1,332)
Oil and natural gas properties (full cost method):
Evaluated				(6,497,874)
Unevaluated				(861,144)
Gross oil and natural gas properties				(7,359,018)
Less - accumulated depletion				6,803,231
Net oil and natural gas properties				(555,787)
Other operating property and equipment:
Other operating property and equipment				(62,008)
Less - accumulated depreciation				24,154
Net other operating property and equipment				(37,854)
Other noncurrent assets:
Funds in escrow and other				27
Total assets				(594,946)
Current liabilities:
Other				4,435
Total current liabilities				4,435
Long-term debt, net				(14,954)
Other noncurrent liabilities:
Asset retirement obligations				(16,799)
Other				3,425
Commitments and contingencies
Mezzanine equity:
Redeemable noncontrolling interest				(178,821)
Stockholders' equity:
Retained earnings (accumulated deficit)				(392,232)
Total stockholders' equity				(392,232)
Total liabilities and stockholders' equity				(594,946)
Predecessor
Current assets:
Cash				111,464
Accounts receivable				116,859
Receivables from derivative contracts				97,648
Restricted cash				17,164
Prepaids and other				8,961
Total current assets				352,096
Oil and natural gas properties (full cost method):
Evaluated				7,712,003
Unevaluated				1,193,259
Gross oil and natural gas properties				8,905,262
Less - accumulated depletion				(6,803,231)
Net oil and natural gas properties				2,102,031
Other operating property and equipment:
Other operating property and equipment				100,079
Less - accumulated depreciation				(24,154)
Net other operating property and equipment				75,925
Other noncurrent assets:
Receivables from derivative contracts				4,431
Funds in escrow and other				1,610
Total assets				2,536,093
Current liabilities:
Accounts payable and accrued liabilities				160,000
Liabilities from derivative contracts				102
Other				414
Total current liabilities				160,516
Long-term debt, net				1,031,114
Liabilities subject to compromise				2,007,703
Other noncurrent liabilities:
Liabilities from derivative contracts				525
Asset retirement obligations				48,955
Other				528
Commitments and contingencies
Mezzanine equity:
Redeemable noncontrolling interest				219,891
Stockholders' equity:
Common stock				12
Additional paid-in capital				3,287,906
Retained earnings (accumulated deficit)				(4,221,057)
Total stockholders' equity				(933,139)	$ 52,414
Total liabilities and stockholders' equity				2,536,093
Predecessor | Reorganization Adjustments
Stockholders' equity:
Common stock				(12)
Additional paid-in capital				(3,287,906)
Total stockholders' equity				$ (3,287,918)

FRESH-START ACCOUNTING-Net cash

FRESH-START ACCOUNTING-Net cash payments (Details) - Reorganization Adjustments $ in Thousands	Sep. 09, 2016USD ($)
Uses:
Payment to settle debt	$ (86,421)
Total Uses	97,521
Series A Preferred Stock
Uses:
Cash payment to Preferred holders	11,100
13.0% senior secured third lien notes due 2022
Uses:
Payment to settle debt	33,826
8.0% convertible note due 2020
Uses:
Payment to settle debt	15,000
Senior Unsecured Notes Held by Certain Holders
Uses:
Payment to settle debt	$ 37,595

FRESH-START ACCOUNTING-Liabilit

FRESH-START ACCOUNTING-Liabilities subject to compromise (Details) - USD ($) $ in Thousands	Sep. 09, 2016	Sep. 30, 2016
Liabilities subject to compromise
Fair value of equity and warrants issued to Third Lien Noteholders, Unsecured Noteholders and Convertible Noteholder	$ 554,432
Reorganization Adjustments
Fresh-Start Adjustment
Payments for amended certain office lease arrangements		$ 3,400
Restructuring Advisor fees		$ 10,300
Liabilities subject to compromise
Accrued interest	46,715
Office lease modification and rejection fees	3,427
Liabilities subject to compromise, Total	2,007,703
Fair value of equity and warrants issued to Third Lien Noteholders, Unsecured Noteholders and Convertible Noteholder	(548,947)
Cash payments to Third Lien Noteholders, Unsecured Noteholders and Convertible Noteholder	(86,421)
Office lease modification and rejection fees	(3,427)
Gain on settlement of Liabilities subject to compromise	1,368,908
Reorganization Adjustments | 13.0% senior secured third lien notes due 2022
Liabilities subject to compromise
Debt	1,017,970
Cash payments to Third Lien Noteholders, Unsecured Noteholders and Convertible Noteholder	33,826
Reorganization Adjustments | 9.25% senior notes due 2022
Liabilities subject to compromise
Debt	37,194
Reorganization Adjustments | 8.875% senior notes due 2021
Liabilities subject to compromise
Debt	297,193
Reorganization Adjustments | 9.75% senior notes due 2020
Liabilities subject to compromise
Debt	315,535
Reorganization Adjustments | 8.0% convertible note due 2020
Liabilities subject to compromise
Debt	289,669
Cash payments to Third Lien Noteholders, Unsecured Noteholders and Convertible Noteholder	$ 15,000

FRESH-START ACCOUNTING-Cancella

FRESH-START ACCOUNTING-Cancellation of predecessor equity (Details) - USD ($) $ in Thousands	Sep. 09, 2016	Sep. 09, 2016	Sep. 30, 2017	Dec. 31, 2016	Sep. 10, 2016	Dec. 31, 2015
Cancellation of predecessor equity
Company Stock	$ (571,123)	$ (571,123)	$ (1,161,988)	$ (112,688)	$ (571,123)
Fair value of equity issued to Predecessor common stockholders	554,432	554,432
Predecessor
Cancellation of predecessor equity
Company Stock	933,139	933,139				$ (52,414)
Cash payment to Preferred Holders		(11,100)
Reorganization Adjustments
Cancellation of predecessor equity
Company Stock	(1,896,494)	(1,896,494)
Fair value of equity issued to Predecessor common stockholders	(548,947)	(548,947)
Reorganization Adjustments | Predecessor
Cancellation of predecessor equity
Company Stock	3,287,918	3,287,918
Fair value of equity issued to Predecessor common stockholders	(22,176)	(22,176)
Cash payment to Preferred Holders		(11,100)
Cancellation of Predecessor Company equity	$ (3,254,642)	$ (3,254,642)

FRESH-START ACCOUNTING-Successo

FRESH-START ACCOUNTING-Successor equity (Details) - $ / shares shares in Millions	Apr. 06, 2017	Sep. 09, 2016
Warrants Issued to Former Holders of Unsecured and Convertible Notes
Stockholders' equity
Number of warrants issued		4.7
Exercise price (in dollars per share)		$ 14.04
Exercise or expiration period		4 years
8.0% convertible note due 2020
Stockholders' equity
Number of warrants issued		0.9
Senior Unsecured Notes Held by Certain Holders
Stockholders' equity
Number of warrants issued		3.8
Common Stock
Stockholders' equity
Shares issued	55.2	90
Reorganization Adjustments | Warrants Issued to Former Holders of Unsecured and Convertible Notes
Stockholders' equity
Fair Value price of Warrants (in dollars per share)		$ 3.52
Reorganization Adjustments | 13.0% senior secured third lien notes due 2022
Stockholders' equity
Shares issued		68.8
Reorganization Adjustments | 8.0% convertible note due 2020
Stockholders' equity
Shares issued		3.6
Reorganization Adjustments | Senior Unsecured Notes Held by Certain Holders
Stockholders' equity
Shares issued		14
Reorganization Adjustments | Common Stock
Stockholders' equity
Shares issued		3.6

FRESH-START ACCOUNTING-Effect o

FRESH-START ACCOUNTING-Effect of reorganization adj cumulative (Details) $ in Thousands	Sep. 09, 2016USD ($)	Sep. 09, 2016USD ($)
Reorganization Adjustments
Cumulative effect of the reorganization adjustments
Gain on settlement of Liabilities subject to compromise	$ 1,368,908
Predecessor
Cumulative effect of the reorganization adjustments
Gain on settlement of Liabilities subject to compromise		$ 1,368,908
Predecessor | Reorganization Adjustments
Cumulative effect of the reorganization adjustments
Gain on settlement of Liabilities subject to compromise	1,368,908
Accrued reorganization items	(10,261)	(10,261)
Cancellation of Predecessor Company equity	3,254,642	3,254,642
Net impact to retained earnings (accumulated deficit)	$ 4,613,289	$ 4,613,289

FRESH-START ACCOUNTING-FV adjus

FRESH-START ACCOUNTING-FV adjustments to oil and natural gas properties (Details) - Fresh Start Adjustments	Sep. 09, 2016$ / MMBTU$ / bbl
Oil and natural gas properties (full cost method):
Weighted average cost of capital rate (as a percent)	10.50
Weighted average cost of capital for probable and possible reserves rate (as a percent)	12.5
Development plan in years	5 years
Weighted average commodity price of oil (in dollars per barrel)	72.30
Weighted average commodity price of natural gas (in dollars per Mmbtu) | $ / MMBTU	3.50
Weighted average commodity price of natural gas liquids (in dollars per barrel)	12

FRESH-START ACCOUNTING-FV adj43

FRESH-START ACCOUNTING-FV adjustments to other operating properties (Details) $ in Thousands	Sep. 09, 2016USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Other operating property and equipment:
Asset retirement obligations		$ 5,124	$ 32,375
Fresh Start Adjustments
Other operating property and equipment:
Asset retirement obligations	$ 32,500
Fair value of asset retirement obligation current	300
Fair value of redeemable noncontrolling interest	41,100
Fair Value of embedded derivative	$ 0
Weighted average cost of capital rate (as a percent)	10.50
Fresh Start Adjustments | Embedded Derivative
Other operating property and equipment:
Weighted average cost of capital rate (as a percent)	12.5
Fresh Start Adjustments | Minimum
Other operating property and equipment:
Risk free rate (as a percent)	5.50%
Fresh Start Adjustments | Maximum
Other operating property and equipment:
Risk free rate (as a percent)	6.60%
Fresh Start Adjustments | Drilling rig commitments
Other operating property and equipment:
Intangible liability for rig contract	$ 8,300
Intangible current liability for rig contract	$ 4,500
Fresh Start Adjustments | Gas gathering systems and equipment
Other operating property and equipment:
Weighted average cost of capital rate (as a percent)	9.5

FRESH-START ACCOUNTING-Reorgani

FRESH-START ACCOUNTING-Reorganization items (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	8 Months Ended
	Sep. 30, 2016	Sep. 09, 2016	Sep. 09, 2016
Reorganization Items
Reorganization professional fees and other	$ (556)
Gain (loss) on reorganization items	$ (556)
Predecessor
Reorganization Items
Gain on settlement of Liabilities subject to compromise			$ 1,368,908
Fresh start adjustments			(392,232)
Reorganization professional fees and other			(30,287)
Write-off of debt discounts/premium and debt issuance costs			(32,667)
Gain (loss) on reorganization items		$ 913,722	$ 913,722

ACQUISITIONS AND DIVESTITURES-P

ACQUISITIONS AND DIVESTITURES-Pecos County Consideration (Details) $ in Thousands	Feb. 28, 2017USD ($)$ / Mcf$ / Boe$ / bbl	Jan. 24, 2017	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 09, 2016USD ($)
Estimated Fair Value of Assets Acquired:
Evaluated oil and natural gas properties			$ 782,695	$ 1,269,034	$ 1,214,129
Other operating property and equipment			$ 68,195	$ 38,617	$ 38,071
8% Convertible Preferred Stock
Additional disclosures
Dividend rate (as a percent)		8.00%
Pecos County Assets
Consideration paid for acquisition and the estimated values of assets acquired and liabilities assumed
Cash consideration paid to Samson at closing	$ 703,865
Less: Post-effective closing date adjustments	(4,677)
Final Consideration transferred	699,188
Plus: Estimated Fair Value of Liabilities Assumed:
Current liabilities	839
Asset retirement obligations	2,116
Amount attributable to liabilities assumed	2,955
Total purchase price plus liabilities assumed	702,143
Estimated Fair Value of Assets Acquired:
Evaluated oil and natural gas properties	150,275
Unevaluated oil and natural gas properties	525,489
Other operating property and equipment	26,379
Amount attributable to assets acquired	702,143
Additional disclosures
Goodwill	$ 0
Weighted average cost of capital rate (as a percent)	10
Weighted average cost of capital for probable and possible reserves rate (as a percent)	12
Development plan in years	5 years
Pecos County Assets | Crude oil
Additional disclosures
Weighted average commodity prices | $ / bbl	76.10
Pecos County Assets | Natural gas
Additional disclosures
Weighted average commodity prices | $ / Mcf	4.14
Pecos County Assets | NGLs
Additional disclosures
Weighted average commodity prices | $ / Boe	29.48
Pecos County Assets | 8% Convertible Preferred Stock
Additional disclosures
Net proceeds received	$ 400,100
Dividend rate (as a percent)	8.00%

ACQUISITIONS AND DIVESTITURES46

ACQUISITIONS AND DIVESTITURES-Pecos County Proforma (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended	8 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 09, 2016	Sep. 30, 2017	Sep. 09, 2016	Sep. 30, 2017
Pro forma financial information
Net income (loss) available to common stockholders	$ (451,483)		$ 419,287		$ 580,809
Predecessor
Pro forma financial information
Net income (loss) available to common stockholders	(451,483)	$ 916,421		$ (32,794)
Pecos County Assets
Pro forma financial information
Revenue	25,516				360,590
Net income (loss)	(450,035)				635,854
Net income (loss) available to common stockholders	$ (450,826)				$ 587,847
Pro forma net income (loss) per share of common stock:
Basic (in dollars per share)	$ (4.95)				$ 4.61
Diluted (in dollars per share)	$ (4.95)				$ 4.58
Additional disclosures
Transaction costs and non-recurring charges					$ 1,000
Oil, natural gas and natural gas liquids sales related to properties acquired					28,300
Net field operating income related to properties acquired					2,400
Pecos County Assets | General and administrative
Additional disclosures
Non-recurring transaction costs					$ 1,000
Pecos County Assets | Predecessor
Pro forma financial information
Revenue				288,902
Net income (loss)				16,513
Net income (loss) available to common stockholders				$ (28,239)
Pro forma net income (loss) per share of common stock:
Basic (in dollars per share)				$ (0.23)
Diluted (in dollars per share)				$ (0.23)

ACQUISITIONS AND DIVESTITURES-D

ACQUISITIONS AND DIVESTITURES-Divestitures (Details) shares in Thousands, $ in Thousands	Sep. 19, 2017USD ($)	Jul. 10, 2017USD ($)subsidiary	Jan. 24, 2017USD ($)	Jan. 01, 2017USD ($)	Sep. 30, 2016shares	Sep. 30, 2017USD ($)	Sep. 09, 2016USD ($)shares	Sep. 30, 2017USD ($)	Sep. 07, 2017USD ($)	Feb. 16, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 21, 2015USD ($)
Divestitures
Proceeds received from sales of oil and natural gas properties								$ 1,901,578
Aggregate principal amount						$ 850,000		850,000			$ 812,826
Proceeds received from sale of other operating property and equipment								21,291
Gain (loss) from sale of gas gathering and other operating assets						491,830		727,520
Additional preferred shares issued to Apollo for dividends paid-in-kind | shares					791		9,329
Gas gathering systems and equipment
Divestitures
Proceeds received from sales of oil and natural gas properties			$ 484,100
Proceeds received from sales of oil and natural gas assets		$ 1,390,000
Proceeds received from sale of other operating property and equipment		$ 10,900		$ 10,200
6.75% senior unsecured notes due 2025
Divestitures
Aggregate principal amount						$ 850,000		$ 850,000		$ 850,000
Interest rate (as a percent)						6.75%		6.75%		6.75%	6.75%
12.0% senior secured second lien notes due 2022
Divestitures
Aggregate principal amount									$ 112,800		$ 112,826
Interest rate (as a percent)		12.00%				12.00%		12.00%			12.00%
Gain on sale of oil and natural gas assets
Divestitures
Gain (loss) from sale of gas gathering and other operating assets		$ 0	0			$ 491,800		$ 235,700
Williston Basin Assets
Divestitures
Gain (loss) from sale of gas gathering and other operating assets		$ 0
Williston Basin Assets | Disposal Group Disposed of by Sale
Divestitures
Ownership percentage in subsidiaries		100.00%
Number of subsidiaries | subsidiary		2
Proceeds received from sales of oil and natural gas assets	$ 105,200	$ 1,400,000
Williston Basin Assets | Disposal Group Disposed of by Sale | 6.75% senior unsecured notes due 2025
Divestitures
Repurchase amount of outstanding principal									425,000
Aggregate principal amount									$ 850,000
Interest rate (as a percent)									6.75%
Williston Basin Assets | Disposal Group Disposed of by Sale | 12.0% senior secured second lien notes due 2022
Divestitures
Interest rate (as a percent)									12.00%
El Halcon Assets
Divestitures
Gain (loss) from sale of gas gathering and other operating assets			$ 0
El Halcon Assets | Disposal Group Disposed of by Sale
Divestitures
Proceeds received from sales of oil and natural gas assets				$ 491,100
Companys Existing Wholly Owned Subsidiaries Other Than HK TMS
Divestitures
Ownership percentage in subsidiaries					100.00%
Predecessor
Divestitures
Proceeds received from sales of oil and natural gas properties							$ (407)
Proceeds received from sale of other operating property and equipment							$ 138
Predecessor | 12.0% senior secured second lien notes due 2022
Divestitures
Aggregate principal amount												$ 112,800
Interest rate (as a percent)												12.00%

OIL AND NATURAL GAS PROPERTIES

OIL AND NATURAL GAS PROPERTIES (Details) $ in Thousands	Jun. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Sep. 09, 2016USD ($)	Sep. 30, 2017$ / MMBTU$ / bbl	Sep. 30, 2016$ / MMBTU$ / bbl	Dec. 31, 2015$ / bbl
Ceiling Limitation Disclosures
First day average of the West Texas Intermediate (WTI) crude oil spot price (in dollars per barrel) | $ / bbl					49.81	41.68
First day average of the Henry Hub natural gas price (in dollars per Mmbtu) | $ / MMBTU					3	2.28
Full cost ceiling impairment		$ 420,934
Full cost ceiling impairment, after tax		$ 268,100
Predecessor
Ceiling Limitation Disclosures
Full cost ceiling impairment	$ 257,900		$ 496,900	$ 754,769
Full cost ceiling impairment, after tax	$ 163,100		315,100
Average price (in dollars per barrel) | $ / bbl							50.28
Predecessor | Unevaluated Oil and Gas Leaseholds
Oil and Natural Gas Properties
Interest costs capitalized				$ 68,200
Predecessor | Tuscaloosa Marine Shale | Unevaluated Oil and Gas Leaseholds
Oil and Natural Gas Properties
Amount of unevaluated property costs transferred to the full cost pool			74,800
Utica areas | Predecessor | Unevaluated Oil and Gas Leaseholds
Oil and Natural Gas Properties
Amount of unevaluated property costs transferred to the full cost pool			$ 330,400

DEBT (Details)

DEBT (Details) - USD ($) $ in Thousands	Oct. 10, 2017	Mar. 20, 2017	Feb. 16, 2017	Sep. 30, 2017	Sep. 07, 2017	Jul. 10, 2017	Dec. 31, 2016	Sep. 09, 2016
Current and long-term debt
Current portion of long-term debt, net				$ 408,879
Principal amount outstanding, net				408,879			$ 964,653	$ 1,016,160
Principal amount				$ 850,000			812,826
8.625% senior secured second lien notes due 2020
Current and long-term debt
Principal amount outstanding, net							$ 672,613
Interest rate (as a percent)				8.625%			8.625%
Unamortized discount							$ 27,400
Principal amount							700,000
Redemption price (as a percent)		104.313%
12.0% senior secured second lien notes due 2022
Current and long-term debt
Principal amount outstanding, net							$ 106,040
Interest rate (as a percent)				12.00%		12.00%	12.00%
Unamortized discount							$ 6,800
Principal amount					$ 112,800		$ 112,826
6.75% senior unsecured notes due 2025
Current and long-term debt
Principal amount outstanding, net				$ 408,879
Interest rate (as a percent)			6.75%	6.75%			6.75%
Outstanding 8.625% notes repurchased with proceeds from the 6.75% note offering (as a percent)			41.00%
Unamortized discount				$ 16,700
Principal amount			$ 850,000	850,000
Unamortized debt issuance costs				$ 7,800
Senior revolving credit facility
Current and long-term debt
Principal amount outstanding, net							$ 186,000
Senior Unsecured Notes Held by Certain Holders | 6.75% senior unsecured notes due 2025
Current and long-term debt
Principal amount			$ 850,000
Principal amount repurchased	$ 425,000
Redemption price (as a percent)	103.00%

DEBT-Senior Facility (Details)

DEBT-Senior Facility (Details) $ in Millions	Sep. 09, 2016USD ($)item	Nov. 30, 2017USD ($)	Sep. 30, 2017USD ($)
Current and long-term debt
Letters of credit outstanding			$ 6.4
Senior revolving credit facility
Current and long-term debt
Current borrowing capacity			140
Amount outstanding			0
Senior revolving credit facility
Current and long-term debt
Maximum borrowing capacity	$ 1,000
Current borrowing capacity		$ 100
Number of interim unscheduled redeterminations of borrowing base to which the company and lender each have the right | item	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 | item	2
Borrowing capacity available			$ 133.6
Senior revolving credit facility | Minimum
Current and long-term debt
Current Ratio	1
Senior revolving credit facility | Maximum
Current and long-term debt
Total Net Indebtedness Leverage Ratio	4
Senior revolving credit facility | ABR - based | Minimum
Current and long-term debt
Applicable margin (as a percent)	1.25%
Senior revolving credit facility | ABR - based | Maximum
Current and long-term debt
Applicable margin (as a percent)	2.25%
Senior revolving credit facility | LIBOR | Minimum
Current and long-term debt
Applicable margin (as a percent)	2.25%
Senior revolving credit facility | LIBOR | Maximum
Current and long-term debt
Applicable margin (as a percent)	3.25%

DEBT - Amended Senior Facilitie

DEBT - Amended Senior Facilities (Details) - USD ($)	Sep. 07, 2017	Mar. 20, 2017	Feb. 21, 2017	Feb. 16, 2017	Dec. 21, 2015	May 01, 2015	Sep. 30, 2017	Jul. 10, 2017	Dec. 31, 2016	Sep. 09, 2016
Current and long-term debt
Principal amount							$ 850,000,000		$ 812,826,000
Accrued interest expense							$ 7,377,000		31,146,000
Irrevocably deposited with U.S. Bank National Association	$ 137,800,000
8.625% senior secured second lien notes due 2020
Current and long-term debt
Principal amount									$ 700,000,000
Interest rate (as a percent)							8.625%		8.625%
Payment for repurchase of debt		$ 432,000,000	$ 1,200,000	$ 303,500,000
Extinguishment of debt, aggregate principal		409,600,000	1,200,000	289,200,000
Make-whole premium		17,700,000	$ 54,000	13,200,000
Accrued interest expense		$ 4,800,000		$ 1,100,000
Redemption price of debt instrument (as a percent)		104.313%
Loss on the repurchase for the tender premium paid							$ 30,900,000
Loss on the write-off of the discount on notes							$ 26,000,000
8.625% senior secured second lien notes due 2020 | Predecessor
Current and long-term debt
Principal amount						$ 700,000,000
Interest rate (as a percent)						8.625%
Net proceeds from issuance						$ 686,200,000
12.0% senior secured second lien notes due 2022
Current and long-term debt
Principal amount	112,800,000								$ 112,826,000
Interest rate (as a percent)							12.00%	12.00%	12.00%
Make-whole premium	23,000,000
Accrued interest expense	$ 2,000,000
Loss on the repurchase for the tender premium paid							$ 23,000,000
Loss on the write-off of the discount on notes							$ 6,200,000
12.0% senior secured second lien notes due 2022 | Predecessor
Current and long-term debt
Principal amount					$ 112,800,000
Interest rate (as a percent)					12.00%
Gross debt extinguished for new notes					$ 289,600,000
9.75% senior notes due 2020 | Predecessor
Current and long-term debt
Interest rate (as a percent)										9.75%
8.875% senior notes due 2021 | Predecessor
Current and long-term debt
Interest rate (as a percent)										8.875%
9.25% senior notes due 2022 | Predecessor
Current and long-term debt
Interest rate (as a percent)										9.25%
Senior Unsecured Notes Held by Certain Holders | 9.75% senior notes due 2020 | Predecessor
Current and long-term debt
Extinguishment of debt, aggregate principal					116,600,000
Senior Unsecured Notes Held by Certain Holders | 8.875% senior notes due 2021 | Predecessor
Current and long-term debt
Extinguishment of debt, aggregate principal					137,700,000
Senior Unsecured Notes Held by Certain Holders | 9.25% senior notes due 2022 | Predecessor
Current and long-term debt
Extinguishment of debt, aggregate principal					$ 35,300,000

DEBT - Issuance of 2025 Senior

DEBT - Issuance of 2025 Senior Notes and Repurchase of 2020 Second Lien Notes (Details) - USD ($) $ in Thousands	Oct. 10, 2017	Sep. 07, 2017	Jul. 25, 2017	Feb. 16, 2017	Sep. 30, 2017	Dec. 31, 2016
Current and long-term debt
Aggregate principal amount					$ 850,000	$ 812,826
6.75% senior unsecured notes due 2025
Current and long-term debt
Aggregate principal amount				$ 850,000	$ 850,000
Interest rate (as a percent)				6.75%	6.75%	6.75%
Net proceeds from issuance				$ 834,100
Percentage of indenture from holders of the 2025 Notes			99.00%
Percentage of consent fee paid			2.00%
Consent fee paid			$ 16,900
Unamortized discount					$ 16,700
Debt Issuance Costs
Gross amount of long-term debt issuance costs					$ 17,100
6.75% senior unsecured notes due 2025 | Williston Basin Assets
Current and long-term debt
Redemption price (as a percent)	103.00%
Principal amount repurchased	$ 425,000
6.75% senior unsecured notes due 2025 | Disposal Group Disposed of by Sale | Williston Basin Assets
Current and long-term debt
Aggregate principal amount		$ 850,000
Interest rate (as a percent)		6.75%
Redemption price (as a percent)		103.00%
Repurchase amount of outstanding principal		$ 425,000
6.75% senior unsecured notes due 2025 | Prior to February 15, 2020
Current and long-term debt
Redemption price (as a percent)					100.00%
Maximum percentage of the aggregate principal amount of debt instruments that may be redeemed with net proceeds of certain equity offerings					35.00%
Redemption price of notes utilizing net proceeds of certain equity offerings (as a percent)					106.75%
Redemption price of notes for change of control (as a percent)					101.00%
6.75% senior unsecured notes due 2025 | February 15, 2020
Current and long-term debt
Redemption price (as a percent)				105.063%
6.75% senior unsecured notes due 2025 | February 15, 2021
Current and long-term debt
Redemption price (as a percent)				103.375%
6.75% senior unsecured notes due 2025 | February 15, 2022
Current and long-term debt
Redemption price (as a percent)				101.688%
6.75% senior unsecured notes due 2025 | 2023 and thereafter
Current and long-term debt
Redemption price (as a percent)				100.00%

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Assets
Asset transfers between levels	$ 0
Liabilities
Liability transfers between levels	0
Recurring | Total
Assets
Receivables from derivative contracts	6,610	$ 5,923
Liabilities
Liabilities from derivative contracts	5,454	16,920
Recurring | Level 2
Assets
Receivables from derivative contracts	6,610	5,923
Liabilities
Liabilities from derivative contracts	$ 5,454	16,920
Predecessor
Assets
Asset transfers between levels		0
Liabilities
Liability transfers between levels		$ 0

FAIR VALUE MEASUREMENTS - Estim

FAIR VALUE MEASUREMENTS - Estimated FV (Details) - USD ($) $ in Thousands	8 Months Ended
	Sep. 09, 2016	Sep. 30, 2017	Sep. 07, 2017	Jul. 10, 2017	Feb. 16, 2017	Dec. 31, 2016	Dec. 21, 2015	May 01, 2015
Fair value measurements
Principal amount		$ 850,000				$ 812,826
8.625% senior secured second lien notes due 2020
Fair value measurements
Interest rate (as a percent)		8.625%				8.625%
Principal amount						$ 700,000
12.0% senior secured second lien notes due 2022
Fair value measurements
Interest rate (as a percent)		12.00%		12.00%		12.00%
Principal amount			$ 112,800			$ 112,826
6.75% senior unsecured notes due 2025
Fair value measurements
Interest rate (as a percent)		6.75%			6.75%	6.75%
Principal amount		$ 850,000			$ 850,000
Total
Fair value measurements
Estimated fair value of debt		879,087				$ 857,077
Total | 8.625% senior secured second lien notes due 2020
Fair value measurements
Estimated fair value of debt						733,250
Total | 12.0% senior secured second lien notes due 2022
Fair value measurements
Estimated fair value of debt						$ 123,827
Total | 6.75% senior unsecured notes due 2025
Fair value measurements
Estimated fair value of debt		$ 879,087
Predecessor
Fair value measurements
Non-cash impairment charge	$ 28,056
Predecessor | 8.625% senior secured second lien notes due 2020
Fair value measurements
Interest rate (as a percent)								8.625%
Principal amount								$ 700,000
Predecessor | 12.0% senior secured second lien notes due 2022
Fair value measurements
Interest rate (as a percent)							12.00%
Principal amount							$ 112,800

DERIVATIVE AND HEDGING ACTIVI55

DERIVATIVE AND HEDGING ACTIVITIES (Details) $ in Thousands	Sep. 30, 2017USD ($)item	Dec. 31, 2016USD ($)item
Derivative and hedging activities
Asset derivative contracts	$ 6,610	$ 5,923
Liability derivative contracts	(5,454)	(16,920)
Derivatives not designated as hedging contracts
Derivative and hedging activities
Asset derivative contracts	6,610	5,923
Liability derivative contracts	$ (5,454)	$ (16,920)
Derivatives not designated as hedging contracts | Commodity contracts
Derivative and hedging activities
Number of open commodity derivative contracts | item	32	22
Derivatives not designated as hedging contracts | Commodity contracts | Current assets - receivables from derivative contracts
Derivative and hedging activities
Asset derivative contracts	$ 5,166	$ 5,923
Derivatives not designated as hedging contracts | Commodity contracts | Other noncurrent assets - receivables from derivative contracts
Derivative and hedging activities
Asset derivative contracts	1,444
Derivatives not designated as hedging contracts | Commodity contracts | Current liabilities - liabilities from derivative contracts
Derivative and hedging activities
Liability derivative contracts	(3,279)	(16,434)
Derivatives not designated as hedging contracts | Commodity contracts | Other noncurrent liabilities - liabilities from derivative contracts
Derivative and hedging activities
Liability derivative contracts	$ (2,175)	$ (486)
Derivatives not designated as hedging contracts | Commodity contracts | Collars | Natural gas
Derivative and hedging activities
Number of open commodity derivative contracts | item	4	2
Derivatives not designated as hedging contracts | Commodity contracts | Collars | Crude oil
Derivative and hedging activities
Number of open commodity derivative contracts | item	17	20
Derivatives not designated as hedging contracts | Commodity contracts | Basis Swap | Crude oil
Derivative and hedging activities
Number of open commodity derivative contracts | item	11

DERIVATIVE AND HEDGING ACTIVI56

DERIVATIVE AND HEDGING ACTIVITIES - Realized Unrealized (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended	8 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 09, 2016	Sep. 30, 2017	Sep. 09, 2016	Sep. 30, 2017
Derivative and hedging activities
Total net gain (loss) on derivative contracts	$ (7,575)		$ (22,415)		$ 28,139
Derivatives not designated as hedging contracts | Commodity contracts | Other Income Expense
Derivative and hedging activities
Unrealized gain (loss) on commodity contracts	(30,338)		(31,209)		11,010
Realized gain (loss) on commodity contracts	22,763		8,794		17,129
Total net gain (loss) on derivative contracts	$ (7,575)		$ (22,415)		$ 28,139
Predecessor
Derivative and hedging activities
Total net gain (loss) on derivative contracts		$ 17,783		$ (17,998)
Predecessor | Derivatives not designated as hedging contracts | Commodity contracts | Other Income Expense
Derivative and hedging activities
Unrealized gain (loss) on commodity contracts		(39,451)		(263,732)
Realized gain (loss) on commodity contracts		57,234		245,734
Total net gain (loss) on derivative contracts		$ 17,783		$ (17,998)

DERIVATIVE AND HEDGING ACTIVI57

DERIVATIVE AND HEDGING ACTIVITIES - Open contracts (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)MMBTU$ / MMBTU$ / bblbbl	Dec. 31, 2016USD ($)MMBTU$ / MMBTU$ / bblbbl
Derivative Assets
Gross Amounts Presented in the Consolidated Balance Sheet | $	$ 6,610	$ 5,923
Amounts Not Offset in the Consolidated Balance Sheet | $	(2,714)	(5,283)
Net Amount | $	3,896	640
Derivative Liabilities
Gross Amounts Presented in the Consolidated Balance Sheet | $	(5,454)	(16,920)
Amounts Not Offset in the Consolidated Balance Sheet | $	2,714	5,075
Net Amount | $	$ (2,740)	$ (11,845)
January 2017 - December 2017 | Collars | Commodity contracts | Crude oil
Derivative and hedging activities
Volume in Bbl's | bbl		6,843,750
January 2017 - December 2017 | Collars | Commodity contracts | Crude oil | Minimum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)		47
Ceilings (in dollars per Mmbtu's/Bbl's)		52
January 2017 - December 2017 | Collars | Commodity contracts | Crude oil | Maximum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's) | $ / MMBTU		60
Ceilings (in dollars per Mmbtu's/Bbl's)		76.84
January 2017 - December 2017 | Collars | Commodity contracts | Crude oil | Weighted Average
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)		51.39
Ceilings (in dollars per Mmbtu's/Bbl's)		58.75
January 2017 - December 2017 | Collars | Commodity contracts | Natural gas
Derivative and hedging activities
Volume in Mmbtu's | MMBTU		3,650,000
January 2017 - December 2017 | Collars | Commodity contracts | Natural gas | Minimum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)		3.15
Ceilings (in dollars per Mmbtu's/Bbl's)		3.50
January 2017 - December 2017 | Collars | Commodity contracts | Natural gas | Maximum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)		3.26
Ceilings (in dollars per Mmbtu's/Bbl's)		3.76
January 2017 - December 2017 | Collars | Commodity contracts | Natural gas | Weighted Average
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's) | $ / MMBTU		3.20
Ceilings (in dollars per Mmbtu's/Bbl's) | $ / MMBTU		3.63
October 2017 - December 2017 | Basis Swap | Commodity contracts | Natural gas
Derivative and hedging activities
Volume in Mmbtu's | MMBTU	460,000
October 2017 - December 2017 | Basis Swap | Commodity contracts | Natural gas | Maximum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's) | $ / MMBTU	3.26
Ceilings (in dollars per Mmbtu's/Bbl's) | $ / MMBTU	3.76
October 2017 - December 2017 | Basis Swap | Commodity contracts | Natural gas | Weighted Average
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's) | $ / MMBTU	3.26
Ceilings (in dollars per Mmbtu's/Bbl's) | $ / MMBTU	3.76
October 2017 - December 2017 | Collars | Commodity contracts | Crude oil
Derivative and hedging activities
Volume in Bbl's | bbl	437,000
October 2017 - December 2017 | Collars | Commodity contracts | Crude oil | Minimum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	51.07
Ceilings (in dollars per Mmbtu's/Bbl's)	56.07
October 2017 - December 2017 | Collars | Commodity contracts | Crude oil | Maximum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	60
Ceilings (in dollars per Mmbtu's/Bbl's)	75
October 2017 - December 2017 | Collars | Commodity contracts | Crude oil | Weighted Average
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	55.64
Ceilings (in dollars per Mmbtu's/Bbl's)	63.80
November 2017 - December 2017 | Collars | Commodity contracts | Crude oil
Derivative and hedging activities
Volume in Bbl's | bbl	61,000
November 2017 - December 2017 | Collars | Commodity contracts | Crude oil | Maximum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	51.50
Ceilings (in dollars per Mmbtu's/Bbl's)	56.50
November 2017 - December 2017 | Collars | Commodity contracts | Crude oil | Weighted Average
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	51.50
Ceilings (in dollars per Mmbtu's/Bbl's)	56.50
January 2018 - December 2018 | Basis Swap | Commodity contracts | Crude oil
Derivative and hedging activities
Volume in Bbl's | bbl	2,555,000
January 2018 - December 2018 | Basis Swap | Commodity contracts | Crude oil | Minimum
Derivative and hedging activities
Basis Differential	(1.05)
January 2018 - December 2018 | Basis Swap | Commodity contracts | Crude oil | Maximum
Derivative and hedging activities
Basis Differential	(1.50)
January 2018 - December 2018 | Basis Swap | Commodity contracts | Crude oil | Weighted Average
Derivative and hedging activities
Basis Differential	(1.29)
January 2018 - December 2018 | Collars | Commodity contracts | Crude oil
Derivative and hedging activities
Volume in Bbl's | bbl	2,920,000	730,000
January 2018 - December 2018 | Collars | Commodity contracts | Crude oil | Minimum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	45
Ceilings (in dollars per Mmbtu's/Bbl's)	50
January 2018 - December 2018 | Collars | Commodity contracts | Crude oil | Maximum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	53	53
Ceilings (in dollars per Mmbtu's/Bbl's)	60	58
January 2018 - December 2018 | Collars | Commodity contracts | Crude oil | Weighted Average
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	49.29	53
Ceilings (in dollars per Mmbtu's/Bbl's)	56.82	58
January 2018 - December 2018 | Collars | Commodity contracts | Natural gas
Derivative and hedging activities
Volume in Mmbtu's | MMBTU	2,737,500
January 2018 - December 2018 | Collars | Commodity contracts | Natural gas | Minimum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	3
Ceilings (in dollars per Mmbtu's/Bbl's)	3.22
January 2018 - December 2018 | Collars | Commodity contracts | Natural gas | Maximum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	3.03
Ceilings (in dollars per Mmbtu's/Bbl's)	3.38
January 2018 - December 2018 | Collars | Commodity contracts | Natural gas | Weighted Average
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	3.01
Ceilings (in dollars per Mmbtu's/Bbl's)	3.30
April 2018 - December 2018 | Basis Swap | Commodity contracts | Crude oil
Derivative and hedging activities
Volume in Bbl's | bbl	275,000
April 2018 - December 2018 | Basis Swap | Commodity contracts | Crude oil | Maximum
Derivative and hedging activities
Basis Differential	(1.15)
April 2018 - December 2018 | Basis Swap | Commodity contracts | Crude oil | Weighted Average
Derivative and hedging activities
Basis Differential	(1.15)
April 2018 - December 2018 | Collars | Commodity contracts | Crude oil
Derivative and hedging activities
Volume in Bbl's | bbl	275,000
April 2018 - December 2018 | Collars | Commodity contracts | Crude oil | Maximum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	46.75
Ceilings (in dollars per Mmbtu's/Bbl's)	51.75
April 2018 - December 2018 | Collars | Commodity contracts | Crude oil | Weighted Average
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	46.75
Ceilings (in dollars per Mmbtu's/Bbl's)	51.75
July 2018 - December 2018 | Basis Swap | Commodity contracts | Crude oil
Derivative and hedging activities
Volume in Bbl's | bbl	1,012,000
July 2018 - December 2018 | Basis Swap | Commodity contracts | Crude oil | Minimum
Derivative and hedging activities
Basis Differential	(0.98)
July 2018 - December 2018 | Basis Swap | Commodity contracts | Crude oil | Maximum
Derivative and hedging activities
Basis Differential	(1.18)
July 2018 - December 2018 | Basis Swap | Commodity contracts | Crude oil | Weighted Average
Derivative and hedging activities
Basis Differential	(1.12)
July 2018 - December 2018 | Collars | Commodity contracts | Crude oil
Derivative and hedging activities
Volume in Bbl's | bbl	184,000
July 2018 - December 2018 | Collars | Commodity contracts | Crude oil | Maximum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	48.50
Ceilings (in dollars per Mmbtu's/Bbl's)	53.50
July 2018 - December 2018 | Collars | Commodity contracts | Crude oil | Weighted Average
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	48.50
Ceilings (in dollars per Mmbtu's/Bbl's)	53.50
January 2019 - March 2019 | Collars | Commodity contracts | Crude oil
Derivative and hedging activities
Volume in Bbl's | bbl	90,000
January 2019 - March 2019 | Collars | Commodity contracts | Crude oil | Maximum
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	46.75
Ceilings (in dollars per Mmbtu's/Bbl's)	51.75
January 2019 - March 2019 | Collars | Commodity contracts | Crude oil | Weighted Average
Derivative and hedging activities
Floors (in dollars per Mmbtu's/Bbl's)	46.75
Ceilings (in dollars per Mmbtu's/Bbl's)	51.75
January 2019 - December 2019 | Basis Swap | Commodity contracts | Crude oil
Derivative and hedging activities
Volume in Bbl's | bbl	3,467,500
January 2019 - December 2019 | Basis Swap | Commodity contracts | Crude oil | Minimum
Derivative and hedging activities
Basis Differential	(0.98)
January 2019 - December 2019 | Basis Swap | Commodity contracts | Crude oil | Maximum
Derivative and hedging activities
Basis Differential	(1.33)
January 2019 - December 2019 | Basis Swap | Commodity contracts | Crude oil | Weighted Average
Derivative and hedging activities
Basis Differential	(1.15)

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Activity related to ARO liability
Liability for asset retirement obligations at the beginning of the period	$ 32,375
Liabilities settled and divested	(31,743)
Additions	286
Acquisitions	2,194
Accretion expense	1,230
Revisions in estimated cash flows	782
Liability for asset retirement obligations at the end of the period	$ 5,124

COMMITMENTS AND CONTINGENCIES59

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Jun. 15, 2017USD ($)$ / a	Sep. 30, 2016USD ($)	Sep. 09, 2016USD ($)	Sep. 30, 2017USD ($)item	Dec. 31, 2016aitem$ / a	Jun. 14, 2017$ / a
Commitments and contingencies
Rent expense		$ 400		$ 3,000
Approximate future minimum lease payments for all non-cancelable operating leases
Remaining period in 2017				830
2,018				3,339
2,019				2,990
2,020				1,811
2,021				1,497
Thereafter				2,180
Total				12,647
Obligation under contractual commitments
Remaining period in 2017				2,378
2,018				2,040
Total				4,418
Other contractual commitments for, among other things, stacking charges on certain drilling rig commitments
Remaining period in 2017				966
2,018				1,260
2,020				3,000
Total				5,226
Predecessor
Commitments and contingencies
Rent expense			$ 5,900
Drilling rig commitments
Commitments and contingencies
Non-cancelable termination penalties				1,700
Approximate future minimum lease payments for all non-cancelable operating leases
Drilling rig commitments				$ 4,400
Gathering, transportation and sales | North Dakota and West Texas
Other contractual commitments for, among other things, stacking charges on certain drilling rig commitments
Number of long-term crude oil sales contracts to which the entity is committed | item				2
Number of long-term natural gas sales contracts to which the entity is committed | item				4
Gathering, transportation and sales | North Dakota and West Texas | Minimum
Other contractual commitments for, among other things, stacking charges on certain drilling rig commitments
Period of commitment for production from the date of first production				1 year
Gathering, transportation and sales | North Dakota and West Texas | Maximum
Other contractual commitments for, among other things, stacking charges on certain drilling rig commitments
Period of commitment for production from the date of first production				8 years
Agreement | Southern Tract
Other contractual commitments for, among other things, stacking charges on certain drilling rig commitments
Acreage of working interest acquired (in acres) | a					6,720
Agreement | Northern Tract
Other contractual commitments for, among other things, stacking charges on certain drilling rig commitments
Acreage of working interest acquired (in acres) | a					8,320
Agreement | Ward County Texas Assets
Other contractual commitments for, among other things, stacking charges on certain drilling rig commitments
Number of tracts | item					2
Price per Acre | $ / a					11,000	13,000
Agreement | Ward County Texas Assets | Maximum
Other contractual commitments for, among other things, stacking charges on certain drilling rig commitments
Acreage of working interest acquired (in acres) | a					15,040
Agreement | Ward County Texas Assets | Southern Tract
Other contractual commitments for, among other things, stacking charges on certain drilling rig commitments
Required contingent payment	$ 5,000
Price per Acre | $ / a	13,000
Agreement | Ward County Texas Assets | Northern Tract
Other contractual commitments for, among other things, stacking charges on certain drilling rig commitments
Price per Acre | $ / a	13,000
Agreement | Ward County Texas Assets | Drilling rig commitments | Northern Tract
Other contractual commitments for, among other things, stacking charges on certain drilling rig commitments
Required contingent payment	$ 5,000

STOCKHOLDERS EQUITY - Private P

STOCKHOLDERS EQUITY - Private Placement of Automatically Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 06, 2017	Feb. 27, 2017	Jan. 24, 2017	Sep. 09, 2016	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2017	Mar. 16, 2017	Dec. 31, 2016
Stockholders' equity
Par value of common stock (in dollars per share)							$ 0.0001		$ 0.0001
Gross proceeds from preferred stock offering							$ 400,055
Offering costs including placement agent fees							11,919
8% Convertible Preferred Stock
Stockholders' equity
Shares issued			5,518
Dividend rate (as a percent)			8.00%
Preferred stock, par value (in dollars per share)			$ 0.0001
Proceeds from issuance of convertible preferred stock per share		$ 72,500
Number of shares of common stock to be issued upon conversion			10,000
Par value of common stock (in dollars per share)								$ 0.0001
Gross proceeds from preferred stock offering		$ 400,100
Conversion price (in dollars per share)			$ 0.87
Share price (in dollars per share)		$ 7.25	$ 8.12
Preferred dividend							$ 0
Offering costs including placement agent fees		$ 11,900
Beneficial conversion proceeds			$ 48,000
Discount amortization period			65 months
Amortization of beneficial conversion discount					$ 47,200	$ 800
Preferred Stock
Stockholders' equity
Preferred stock, par value (in dollars per share)				$ 0.0001
Common Stock
Stockholders' equity
Shares issued	55,200,000			90,000,000
Par value of common stock (in dollars per share)				$ 0.0001

STOCKHOLDERS' EQUITY-Common sto

STOCKHOLDERS' EQUITY-Common stock and warrants (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 06, 2017	Sep. 09, 2016	Sep. 30, 2017	Dec. 31, 2016
Stockholders' equity
Authorized shares of capital stock, after amendment of certificate of incorporation		1,001,000,000
Authorized shares of common stock, after amendment of certificate of incorporation			1,000,000,000	1,000,000,000
Common stock, par value (in dollars per share)			$ 0.0001	$ 0.0001
Additional paid-in capital		$ 571,114	$ 1,013,141	$ 592,663
8.0% convertible note due 2020
Stockholders' equity
Number of warrants issued		900,000
Senior Unsecured Notes Held by Certain Holders
Stockholders' equity
Number of warrants issued		3,800,000
Warrants Issued to Former Holders of Unsecured and Convertible Notes
Stockholders' equity
Number of warrants issued		4,700,000
Exercise price (in dollars per share)		$ 14.04
Additional paid-in capital		$ 16,700
Preferred stock
Stockholders' equity
Authorized shares of preferred stock, after amendment of certificate of incorporation		1,000,000
Common Stock
Stockholders' equity
Shares issued	55,200,000	90,000,000
Authorized shares of common stock, after amendment of certificate of incorporation		1,000,000,000
Common stock, par value (in dollars per share)		$ 0.0001
Series A Preferred Stock
Stockholders' equity
Preferred stock, shares outstanding			0
Predecessor
Stockholders' equity
Dividend rate (as a percent)		5.75%
Additional paid-in capital		$ 3,287,906
Predecessor | Series A Preferred Stock
Stockholders' equity
Dividend rate (as a percent)		5.75%

STOCKHOLDERS' EQUITY - Options

STOCKHOLDERS' EQUITY - Options (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Apr. 06, 2017	Sep. 30, 2016	Sep. 30, 2016	Sep. 09, 2016	Sep. 30, 2017	Sep. 09, 2016	Sep. 30, 2017	Dec. 31, 2016
General and administrative
Stock-based compensation
Compensation expense recorded			$ 13.2		$ 12.3		$ 33.5
Stock options | Employee
Stock-based compensation
Percentage of awards other than options vesting on the annual anniversary date of the grant							33.33%
Vesting period							3 years
Expiration term							10 years
Restricted Stock | Non-employee director
Stock-based compensation
Vesting period							6 months
Predecessor | General and administrative
Stock-based compensation
Compensation expense recorded				$ 1.2		$ 4.9
2016 Incentive Plan | Common Stock
Stock-based compensation
Aggregate number of shares available	19	10	10
Maximum number of shares that remained reserved for issuance under the Plan					7.3		7.3	1.7
Increase in shares available for issuance	9
Number of calculation days for which shares will be available for issuance.	20 days
2016 Incentive Plan | Stock options
Stock-based compensation
Unrecognized compensation expense					$ 17.3		$ 17.3
Weighted average remaining vesting period		1 year 10 months 24 days					1 year 6 months
Restricted stock
Unrecognized compensation expense stock option		$ 29.8	$ 29.8
2016 Incentive Plan | Stock options | Employee
Stock-based compensation
Exercise price (in dollars per share)			$ 9.24
Number of Shares
Granted (in shares)			5				1.8
Weighted Average Exercise Price Per Share
Granted (in dollars per share)			$ 9.24				$ 7.72
2016 Incentive Plan | Stock options | Minimum | Employee
Stock-based compensation
Exercise price (in dollars per share)							6.55
2016 Incentive Plan | Stock options | Maximum | Employee
Stock-based compensation
Exercise price (in dollars per share)							$ 7.75
2016 Incentive Plan | Restricted Stock
Stock-based compensation
Weighted average remaining vesting period		10 months 24 days					1 year 3 months 18 days
Weighted average grant date price (in dollars per share)		$ 9.17	$ 9.17		$ 7.07		$ 7.07
Unrecognized compensation expense other than options		$ 12	$ 12		$ 5.7		$ 5.7
Number of Shares
Granted (in shares)			2.6				2
2016 Incentive Plan | Restricted Stock | Employee
Stock-based compensation
Percentage of awards other than options vesting on the annual anniversary date of the grant							33.33%
Vesting period							3 years
2016 Incentive Plan | Restricted Stock | Minimum
Stock-based compensation
Grant date price (in dollars per share)		$ 7.82	$ 7.82		$ 6.08		$ 6.08
2016 Incentive Plan | Restricted Stock | Maximum
Stock-based compensation
Grant date price (in dollars per share)		$ 9.24	$ 9.24		$ 7.75		$ 7.75

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended	8 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 09, 2016	Sep. 30, 2017	Sep. 09, 2016	Sep. 30, 2017
Basic:
Net income (loss) available to common stockholders	$ (451,483)		$ 419,287		$ 580,809
Weighted average basic number of common shares outstanding	91,071		146,944		127,458
Basic net income (loss) per share of common share (in dollars per share)	$ (4.96)		$ 2.85		$ 4.56
Diluted:
Net income (loss) available to common stockholders	$ (451,483)		$ 419,287		$ 580,809
Net income (loss) available to common stockholders after assumed conversions	$ (451,483)		$ 419,287
Weighted average basic number of common shares outstanding	91,071		146,944		127,458
Common stock equivalent shares representing shares included upon Vesting of restricted shares			1,546		952
Weighted average diluted number of common shares outstanding	91,071		148,490		128,410
Diluted net income (loss) per share of common stock (in dollars per share)	$ (4.96)		$ 2.82		$ 4.52
Common stock equivalents of stock options, warrants, restricted shares, convertible debt and 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)	11,100		11,700		19,000
Predecessor
Basic:
Net income (loss) available to common stockholders	$ (451,483)	$ 916,421		$ (32,794)
Weighted average basic number of common shares outstanding	91,071	120,905		120,513
Basic net income (loss) per share of common share (in dollars per share)	$ (4.96)	$ 7.58		$ (0.27)
Diluted:
Net income (loss) available to common stockholders	$ (451,483)	$ 916,421		$ (32,794)
Interest on Convertible Note, net		1,522
Series A preferred dividends		2,451		$ 8,847
Net income (loss) available to common stockholders after assumed conversions		$ 920,394
Weighted average basic number of common shares outstanding	91,071	120,905		120,513
Common stock equivalent shares representing shares issuable upon Conversion of Convertible Note		23,743
Weighted average diluted number of common shares outstanding	91,071	151,876		120,513
Diluted net income (loss) per share of common stock (in dollars per share)	$ (4.96)	$ 6.06		$ (0.27)
Common stock equivalents of stock options, warrants, restricted shares, convertible debt and 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)		11,900		43,600
Series A Preferred Stock | Predecessor
Diluted:
Common stock equivalent shares representing shares included upon Conversion of preferred stock		7,228

ADDITIONAL FINANCIAL STATEMEN64

ADDITIONAL FINANCIAL STATEMENT INFORMATION (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 09, 2016
Accounts receivable:
Oil, natural gas and natural gas liquids revenues	$ 74,645	$ 86,433
Joint interest accounts	27,637	39,828
Accrued settlements on derivative contracts	673	18,599
Affiliated partnership	11	268
Other	5,787	2,634
Total	108,753	147,762	$ 116,859
Prepaids and other:
Prepaids	5,856	6,704
Income tax receivable	6,250
Other	65	236
Total	12,171	6,940	7,629
Funds in escrow and other:
Funds in escrow	562	561
Debt issuance costs	479
Other	1,367	1,326
Total	2,408	1,887	1,637
Accounts payable and accrued liabilities:
Trade payables	32,911	24,364
Accrued oil and natural gas capital costs	64,427	32,967
Revenues and royalties payable	47,926	79,147
Accrued interest expense	7,377	31,146
Accrued employee compensation	8,158	3,428
Accrued lease operating expenses	8,924	14,077
Drilling advances from partners	922	422
Income tax payable		250
Affiliated partnership	22	323
Other	1,345	60
Total	$ 172,012	$ 186,184	$ 173,688

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Millions	Sep. 19, 2017	Jul. 10, 2017	Nov. 09, 2017	Nov. 08, 2017	Sep. 30, 2017
Senior revolving credit facility
Subsequent event
Current borrowing capacity					$ 140
Senior revolving credit facility | Subsequent events
Subsequent event
Current borrowing capacity			$ 100	$ 140
Williston Basin Assets | Disposal Group Disposed of by Sale
Subsequent event
Proceeds received from sales of oil and natural gas assets	$ 105.2	$ 1,400