SandRidge Energy (SD) 10-Q 16 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 10, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	SANDRIDGE ENERGY INC
Entity Central Index Key	1,349,436
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		719,000,056

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 694,042	$ 435,588
Accounts receivable, net	72,774	127,387
Derivative contracts	61,403	84,349
Prepaid expenses	10,427	6,833
Other current assets	15,239	19,931
Total current assets	853,885	674,088
Oil and natural gas properties, using full cost method of accounting
Proved	11,961,413	12,529,681
Unproved	350,646	363,149
Less: accumulated depreciation, depletion and impairment	(11,035,575)	(11,149,888)
Net oil and natural gas properties capitalized costs	1,276,484	1,742,942
Other property, plant and equipment, net	426,537	491,760
Other assets	17,153	13,237
Total assets	2,574,059	2,922,027
Current liabilities
Current maturities of long-term debt	3,981,371	0
Accounts payable and accrued expenses	263,665	428,417
Derivative contracts	355	573
Asset retirement obligations	8,440	8,399
Total current liabilities	4,253,831	437,389
Long-term debt	0	3,562,378
Asset retirement obligations	62,279	95,179
Other long-term obligations	11,147	14,814
Total liabilities	$ 4,327,257	$ 4,109,760
Commitments and contingencies (Note 10)
Preferred stock, $0.001 par value, 50,000 shares authorized
Common stock, $0.001 par value; 1,800,000 shares authorized; 721,256 issued and 719,288 outstanding at March 31, 2016 and 635,584 issued and 633,471 outstanding at December 31, 2015	$ 718	$ 630
Additional paid-in capital	5,312,363	5,301,136
Additional paid-in capital—stockholder receivable	(1,250)	(1,250)
Treasury stock, at cost	(5,291)	(5,742)
Accumulated deficit	(7,059,723)	(6,992,697)
Total SandRidge Energy, Inc. stockholders’ deficit	(1,753,177)	(1,697,917)
Noncontrolling interest	(21)	510,184
Total stockholders’ deficit	(1,753,198)	(1,187,733)
Total liabilities and stockholders’ deficit	2,574,059	2,922,027
8.5% Convertible perpetual preferred stock; 2,650 shares issued and outstanding at March 31, 2016 and December 31, 2015; aggregate liquidation preference of $265,000
Preferred stock, $0.001 par value, 50,000 shares authorized
Preferred stock	3	3
7.0% Convertible perpetual preferred stock; 2,597 shares issued and outstanding at March 31, 2016; aggregate liquidation preference of $259,700; 2,770 shares issued and outstanding at December 31, 2015; aggregate liquidation preference of $277,000
Preferred stock, $0.001 par value, 50,000 shares authorized
Preferred stock	$ 3	$ 3

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	1,800,000,000	1,800,000,000
Common stock, shares issued	721,256,000	635,584,000
Common stock, shares outstanding	719,288,000	633,471,000
8.5% Convertible perpetual preferred stock; 2,650 shares issued and outstanding at March 31, 2016 and December 31, 2015; aggregate liquidation preference of $265,000
Preferred stock, shares issued	2,650,000	2,650,000
Preferred stock, shares outstanding	2,650,000	2,650,000
Preferred stock, aggregate liquidation preference	$ 265,000	$ 265,000
7.0% Convertible perpetual preferred stock; 2,597 shares issued and outstanding at March 31, 2016; aggregate liquidation preference of $259,700; 2,770 shares issued and outstanding at December 31, 2015; aggregate liquidation preference of $277,000
Preferred stock, shares issued	2,597,000	2,770,000
Preferred stock, shares outstanding	2,597,000	2,770,000
Preferred stock, aggregate liquidation preference	$ 259,700	$ 277,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues
Oil, natural gas and NGL	$ 84,375	$ 195,732
Midstream and marketing	4,287	8,764
Drilling and services	1,232	9,845
Other	438	967
Total revenues	90,332	215,308
Expenses
Production	47,282	89,498
Production taxes	1,708	4,514
Cost of sales	4,268	12,827
Midstream and marketing	1,084	8,107
Depreciation and depletion—oil and natural gas	32,326	106,107
Depreciation and amortization—other	6,835	13,347
Accretion of asset retirement obligations	1,588	1,080
Impairment	110,114	1,083,866
General and administrative	74,278	36,149
Gain on derivative contracts	(2,808)	(49,827)
Loss on settlement of contract	89,092	0
Gain on sale of assets	(1,880)	(1,904)
Total expenses	363,887	1,303,764
Loss from operations	(273,555)	(1,088,456)
Other (expense) income
Interest expense	(81,151)	(62,842)
Gain on extinguishment of debt	41,331	0
Other income (expense), net	153	(536)
Total other expense	(39,667)	(63,378)
Loss before income taxes	(313,222)	(1,151,834)
Income tax expense	4	40
Net Loss	(313,226)	(1,151,874)
Less: net loss attributable to noncontrolling interest	0	(116,921)
Net loss attributable to SandRidge Energy, Inc.	(313,226)	(1,034,953)
Preferred stock dividends	10,881	10,881
Loss applicable to SandRidge Energy, Inc. common stockholders	$ (324,107)	$ (1,045,834)
Loss per share
Basic (in dollars per share)	$ (0.47)	$ (2.19)
Diluted (in dollars per share)	$ (0.47)	$ (2.19)
Weighted average number of common shares outstanding
Basic (in shares)	689,784	478,165
Diluted (in shares)	689,784	478,165

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT) - 3 months ended Mar. 31, 2016 - USD ($) shares in Thousands, $ in Thousands	Total	Preferred StockConvertible Perpetual Preferred Stock	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Deficit	Non-controlling Interest
Beginning Balance (in shares) at Dec. 31, 2015		5,420
Beginning Balance (in shares) at Dec. 31, 2015	633,471		633,471
Beginning Balance at Dec. 31, 2015	$ (1,187,733)	$ 6	$ 630	$ 5,299,886	$ (5,742)	$ (6,992,697)	$ 510,184
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adoption of ASU 2015-02	(253,124)					257,081	(510,205)
Purchase of treasury stock	(37)				(37)
Retirement of treasury stock	0			(37)	37
Stock distributions, net of purchases - retirement plans (in shares)			145
Stock distributions, net of purchases - retirement plans	0			(451)	451
Stock-based compensation	7,394			7,394
Cancellations of restricted stock awards, net of issuance (in shares)			(938)
Cancellations of restricted stock awards, net of issuance	$ 0		$ 1	(1)
Common stock issued for debt (in shares)	84,400		84,390
Common stock issued for debt	$ 4,409		$ 84	4,325
Conversion of preferred stock to common stock (in shares)		173	2,220
Conversion of preferred stock to common stock	0		$ 3	(3)
Net loss	(313,226)					(313,226)
Convertible perpetual preferred stock dividends	(10,881)					(10,881)
Ending Balance at Mar. 31, 2016	$ (1,753,198)	$ 6	$ 718	$ 5,311,113	$ (5,291)	$ (7,059,723)	$ (21)
Ending Balance (in shares) at Mar. 31, 2016	719,288		719,288
Ending Balance (in shares) at Mar. 31, 2016		5,247

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (313,226,000)	$ (1,151,874,000)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Provision for doubtful accounts	16,701,000	0
Depreciation, depletion and amortization	39,161,000	119,454,000
Accretion of asset retirement obligations	1,588,000	1,080,000
Impairment	110,114,000	1,083,866,000
Debt issuance costs amortization	3,350,000	2,225,000
Amortization of discount, net of premium, on debt	2,013,000	142,000
Gain on extinguishment of debt	(41,331,000)	0
Write off of debt issuance costs	0	2,221,000
Gain on debt derivatives	(1,324,000)	0
Cash paid for early conversion of convertible notes	(33,452,000)	0
Gain on derivative contracts	(2,808,000)	(49,827,000)
Cash received on settlement of derivative contracts	25,536,000	136,957,000
Loss on settlement of contract	89,092,000	0
Cash paid on settlement of contract	(11,000,000)	0
Gain on sale of assets	(1,880,000)	(1,904,000)
Stock-based compensation	6,753,000	4,024,000
Other	89,000	90,000
Changes in operating assets and liabilities	(52,020,000)	(56,359,000)
Net cash (used in) provided by operating activities	(162,644,000)	90,095,000
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures for property, plant and equipment	(70,546,000)	(377,052,000)
Acquisition of assets	(95,000)	(1,739,000)
Proceeds from sale of assets	3,172,000	2,755,000
Net cash used in investing activities	(67,469,000)	(376,036,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	488,900,000	420,000,000
Repayments of borrowings	0	(245,000,000)
Debt issuance costs	(296,000)	(1,905,000)
Noncontrolling interest distributions	0	(43,716,000)
Purchase of treasury stock	(37,000)	(1,609,000)
Dividends paid — preferred	0	(11,261,000)
Net cash provided by financing activities	488,567,000	116,509,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	258,454,000	(169,432,000)
CASH AND CASH EQUIVALENTS, beginning of year	435,588,000	181,253,000
CASH AND CASH EQUIVALENTS, end of period	694,042,000	11,821,000
Supplemental Disclosure of Cash Flow Information
Cash paid for interest, net of amounts capitalized	(75,450,000)	(90,286,000)
Supplemental Disclosure of Noncash Investing and Financing Activities
Cumulative effect of adoption of ASU 2015-02	(247,566,000)	0
Property, plant and equipment transferred in contract settlement	(215,635,000)	0
Change in accrued capital expenditures	17,065,000	56,861,000
Equity issued for debt	$ 4,409,000	$ 0

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Nature of Business. SandRidge Energy, Inc. is an energy company with a principal focus on exploration and production activities in the Mid-Continent and Rockies regions of the United States. The Company also operates an electrical transmission system. Principles of Consolidation. The consolidated financial statements include the accounts of the Company and its wholly owned or majority owned subsidiaries. During the three -month period ended March 31, 2015 , the Company fully consolidated the activities of the Royalty Trusts as variable interest entities (“VIEs”) for which the Company was the primary beneficiary. Activities of the Royalty Trusts attributable to third party ownership were presented as noncontrolling interest and included as a component of equity in the condensed consolidated balance sheet as of December 31, 2015. As discussed further below, during the three -month period ended March 31, 2016 , the Company proportionately consolidated the activities of the Royalty Trusts. All significant intercompany accounts and transactions have been eliminated in consolidation. Interim Financial Statements. The accompanying unaudited condensed consolidated financial statements as of December 31, 2015 have been derived from the audited financial statements contained in the Company’s 2015 Form 10-K. The unaudited interim condensed consolidated financial statements have been prepared in accordance with the accounting policies stated in the audited consolidated financial statements contained in the 2015 Form 10-K. Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted, although the Company believes that the disclosures contained herein are adequate to make the information presented not misleading. In the opinion of management, the accompanying financial statements include all adjustments, which consist of normal recurring adjustments, necessary to state fairly the information in the Company’s accompanying unaudited condensed consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the 2015 Form 10-K. Significant Accounting Policies. For a description of the Company’s significant accounting policies, see Note 1 of the consolidated financial statements included in the 2015 Form 10-K. Reclassifications. Certain reclassifications have been made to the prior period financial statements to conform to the current period presentation. These reclassifications have no effect on the Company’s previously reported results of operations. Use of Estimates. The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of assumptions, judgments and estimates include: oil, natural gas and natural gas liquids (“NGL”) reserves; impairment tests of long-lived assets; depreciation, depletion and amortization; asset retirement obligations; determinations of significant alterations to the full cost pool and related estimates of fair value used to allocate the full cost pool net book value to divested properties, as necessary; income taxes; valuation of derivative instruments; contingencies; and accrued revenue and related receivables. Although management believes these estimates are reasonable, actual results could differ significantly. Recent Accounting Pronouncements. In February 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2015-02, “Amendments to the Consolidation Analysis,” which makes changes to both the variable interest model and the voting model, affecting all reporting entities involved with limited partnerships or similar entities, particularly industries such as the oil and gas, transportation and real estate sectors. The guidance simplifies and improves current guidance by placing more emphasis on risk of loss when determining a controlling financial interest and reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a VIE. The requirements of the guidance were effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period, with early adoption permitted. The Company adopted this guidance on January 1, 2016, which resulted in the determination that the Royalty Trusts no longer qualify as VIEs. As a result, for the three-month period ended March 31, 2016, the Company proportionately consolidated the activities of the Royalty Trusts. Under the proportionate consolidation method, the Company accounts for only its share of each Royalty Trust’s asset, liabilities, revenues and expenses within the appropriate classifications in the accompanying unaudited condensed consolidated financial statements. The Company adopted the provisions of ASU 2015-02 on a modified retrospective approach by recording a cumulative-effect adjustment as of January 1, 2016 that resulted in decreases of approximately $243.4 million to total assets and approximately $510.2 million to noncontrolling interest and increases of approximately $9.7 million to accounts payable and approximately $257.1 million to retained earnings. In April 2015, the FASB issued ASU 2015-03, "Simplifying the Presentation of Debt Issuance Costs," which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability, consistent with the presentation of a debt discount. The guidance is effective on a retrospective basis for annual periods beginning after December 15, 2015, including interim periods within that reporting period, with early adoption permitted. The guidance was adopted on January 1, 2016, and resulted in a decrease of approximately $69.1 million to other assets and current maturities of long-term debt in the accompanying condensed consolidated balance sheet for the year ended December 31, 2015, with no impact to the accompanying condensed consolidated statements of operations. In August 2015, the FASB issued ASU 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements,” which excludes line-of-credit debt issuance costs from the scope of ASU 2015-03. The guidance was adopted on January 1, 2016 in conjunction with the adoption of ASU 2015-03 by making an accounting policy election to present line-of-credit arrangement debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit. The adoption of this policy resulted in no impact to the consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Certain of the provisions also amend or supersede existing guidance applicable to the recognition of a gain or loss on transfers of nonfinancial assets that are not an output of an entity’s ordinary activities, including sales of property, plant and equipment and real estate. In August, 2015, the FASB issued ASU 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date," which defers the effective date of ASU 2014-09 to annual periods beginning after December 15, 2017, and interim periods within that reporting period. Early adoption is permitted, and either a full retrospective or modified approach may be used for adoption. The Company is currently evaluating the effect, if any, that the updated standard will have on its consolidated financial statements and related disclosures. In August 2014, the FASB issued ASU 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if “conditions or events raise substantial doubt about the entity’s ability to continue as a going concern.” The guidance is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company evaluated the effect of the guidance and has determined that it will have no impact on its related disclosures. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842),” which requires companies to recognize the assets and liabilities for the rights and obligations created by long-term leases of assets on the balance sheet. The guidance requires adoption by application of a modified retrospective transition approach for existing long-term leases and is effective for fiscal years beginning after December 15, 2018, including interim periods within those years. The Company is currently evaluating the effect that the guidance will have on its consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-06, “Contingent Put and Call Options in Debt Instruments” which clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts, which is one of the criteria for bifurcating an embedded derivative. The amendments eliminate diversity in practice in assessing embedded contingent call (put) options in debt instruments. The guidance requires adoption by application of a modified retrospective approach to existing and future debt instruments effective for fiscal years after December 15, 2016, including interim periods within those years. Early adoption is permitted. The Company is currently evaluating the effect that the guidance will have on its consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, “Improvements to Share-Based Payment Accounting” which was part of the FASB simplification initiative and involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The guidance requires adoption by various application methods. All amendments must be adopted in the same period. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those years. Early adoption is permitted. The Company is currently evaluating the effect that the guidance will have on its consolidated financial statements and related disclosures.

Going Concern

Going Concern	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	Going Concern The Company depends on cash flows from operating activities and, as necessary and available, borrowings under its senior secured revolving credit facility (the “senior credit facility”) to fund its capital expenditures. Additionally, the Company historically has used proceeds from the issuance of equity and debt securities in the capital markets and from sales or other monetizations of assets to fund its capital expenditures. The market price for oil, natural gas and NGLs decreased significantly beginning in the fourth quarter of 2014, continuing throughout 2015, and into 2016. The decrease in the market price for production directly reduces the Company’s cash flow from operations and indirectly impacts its other potential sources of funds described above. The Company borrowed all of its remaining available capacity under the senior credit facility in January 2016 and in March 2016, the lenders under the senior credit facility elected to reduce the borrowing base to $340.0 million . On March 21, 2016, the Company notified the administrative agent of the senior credit facility (the “administrative agent”) that the Company would submit for the administrative agent’s consideration proposed additional oil and gas properties to serve as collateral under the senior credit facility sufficient to support a borrowing base of $500.0 million . Additionally, the Company notified the administrative agent that it believed the currently pledged assets were sufficient to support a borrowing base of $500.0 million and reserved the right to exercise all other options available to remedy the borrowing base deficiency, if any. On April 20, 2016, the Company submitted such additional properties for consideration by its lenders. Lower market prices for production may result in further reductions to the borrowing base under the senior credit facility or higher borrowing costs from other potential sources of financing as the Company’s borrowing capacity and borrowing costs are generally related to the value of the Company’s estimated proved reserves. The weakness in pricing may also impact the Company’s ability to negotiate asset monetizations at acceptable prices. As a result of the impacts to the Company’s financial position resulting from declining industry conditions and in consideration of the substantial amount of debt outstanding, the Company has engaged advisors to assist with the evaluation of strategic alternatives. The Company believes that a filing under Chapter 11 provides the most expeditious manner in which to enhance its liquidity position and effect a substantial reduction in its debt obligations. However, there can be no assurances that the Company will be able to successfully restructure its indebtedness, improve its financial position or complete any strategic transactions. As a result of these uncertainties, management has concluded that there is substantial doubt regarding the Company’s ability to continue as a going concern as it is currently structured. The report of the Company’s independent registered public accounting firm that accompanied the consolidated financial statements for the year ended December 31, 2015 contained an explanatory paragraph regarding the substantial doubt about the Company’s ability to continue as a going concern. On March 31, 2016, the administrative agent under the amended senior credit agreement (the “First Lien Credit Agreement”) notified the Company that its failure to deliver financial statements without a “going concern” qualification resulted in a default under the terms of the First Lien Credit Agreement. Pursuant to the terms of the First Lien Credit Agreement, a 30 -day grace period expired on April 30, 2016 and such default ripened into an event of default. Pursuant to the First Lien Credit Agreement, on or before May 15, 2016, the Company is required to deliver (i) financial statements for the quarter ended March 31, 2016 and (ii) a compliance certificate calculating the ratios and reflecting compliance with the financial covenants therein, including the maintenance of agreed upon levels for the (a) ratio of total secured debt under the senior credit facility to EBITDA, which may not exceed 2.00 :1.00 at each quarter end and (b) ratio of current assets to current liabilities, which must be at least 1.00 :1.00 at each quarter end. The Company believes that it will be unable to satisfy the financial covenant concerning the ratio of current assets to current liabilities, resulting in an event of default under the First Lien Credit Agreement. On May 11, 2016, the Company entered into a restructuring support and lock-up agreement (including term sheets and other exhibits attached thereto, the “Restructuring Support Agreement” or “RSA”) pursuant to which the Company’s lenders under the senior credit facility agreed to waive the going concern default and the expected financial covenant default noted above until May 31, 2016. Under the terms of the Restructuring Support Agreement, the lenders have also agreed to forbear from exercising any remedies available to them under the First Lien Credit Agreement in connection with the Company’s failure to support a borrowing base of $500.0 million . On May 16, 2016, the Company and certain of its direct and indirect subsidiaries (collectively with the Company, the “Debtors”) filed voluntary petitions (the “Bankruptcy Petitions”) for reorganization under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). The Company’s filing of the Bankruptcy Petitions constitutes an event of default that accelerated the Company’s obligations under its senior credit facility, its Senior Secured Notes (as defined below) and its Unsecured Notes (as defined below). Under the Bankruptcy Code, the creditors under these debt agreements are stayed from taking any action against the Company as a result of an event of default. For further discussion of the Company’s Bankruptcy Petitions and the Chapter 11 Cases, as defined and discussed in Note 17 . The factors noted above create uncertainty associated with the Company’s ability to repay its outstanding long-term debt obligations as they become due and further reinforces the substantial doubt over the Company’s ability to continue as a going concern. The consolidated financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and satisfaction of liabilities and commitments in the normal course of business. The consolidated financial statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern, except for the classification of all debt as current.

Divestitures

Divestitures	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestiture Divestiture of West Texas Overthrust (the “WTO”) Properties and Release from Treating Agreement. On January 21, 2016, the Company paid $11.0 million in cash and transferred ownership of substantially all of its oil and natural gas properties and midstream assets located in the Piñon field in the WTO to Occidental Petroleum Corporation (“Occidental”) and was released from all past, current and future claims and obligations under an existing 30 year treating agreement between the companies. As of the date of the transaction, the Company had accrued approximately $111.9 million for penalties associated with shortfalls in meeting its delivery requirements under the agreement since it became effective in late 2012. The Company recognized a loss of approximately $89.1 million on the termination of the treating agreement and the cease-use of transportation agreements that supported production from the Piñon field.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures and reports certain assets and liabilities on a fair value basis and has classified and disclosed its fair value measurements using the following levels of the fair value hierarchy: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 Measurement based on prices or valuation models that require inputs that are both significant to the fair value measurement and less observable for objective sources (i.e., supported by little or no market activity). Assets and liabilities that are measured at fair value are classified 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, which may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values, stated below, considers the market for the Company’s financial assets and liabilities, the associated credit risk and other factors. The Company considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. The Company has assets and liabilities classified in each level of the hierarchy as of March 31, 2016 and December 31, 2015 , as described below. Level 1 Fair Value Measurements Investments. The fair value of investments, consisting of assets attributable to the Company’s non-qualified deferred compensation plan, is based on quoted market prices. Investments are included in other assets in the accompanying unaudited condensed consolidated balance sheets. Level 2 Fair Value Measurements Commodity Derivative Contracts. The fair values of the Company’s oil and natural gas fixed price swaps and oil and natural gas collars are based upon inputs that are either readily available in the public market, such as oil and natural gas futures prices, volatility factors and discount rates, or can be corroborated from active markets. Fair value is determined through the use of a discounted cash flow model or option pricing model using the applicable inputs, discussed above. The Company applies a weighted average credit default risk rating factor for its counterparties or gives effect to its credit default risk rating, as applicable, in determining the fair value of these derivative contracts. Credit default risk ratings are based on current published credit default swap rates. Mandatory Prepayment Feature - PGC Senior Secured Notes. In conjunction with the acquisition of and termination of a gathering agreement with Piñon Gathering Company, LLC (“PGC”) in October 2015, the Company issued the PGC Senior Secured Notes with a $78.0 million principal value. These notes bear payment terms identical to and are secured by the same assets as the 8.75% Senior Secured Notes due 2020 issued by the Company in June 2015 as discussed in Note 7 . The 8.75% Senior Secured Notes due 2020 issued in June 2015 and PGC Senior Secured Notes (collectively, “Senior Secured Notes”) will mature on June 1, 2020; provided, however, that if on October 15, 2019, the aggregate outstanding principal amount of the Company’s unsecured 8.75% Senior Notes due 2020 exceeds $100.0 million , the Senior Secured Notes will mature on October 16, 2019. The issuance of the PGC Senior Secured Notes at a substantial discount, as discussed in Note 7 and Note 8 , resulted in the treatment of the mandatory prepayment feature contained in those notes as an embedded derivative that meets the criteria to be bifurcated from its host contract, the PGC Senior Secured Notes, and accounted for separately from those notes. The mandatory prepayment feature contained in the PGC Senior Secured Notes is recorded at fair value each reporting period based upon values determined through the use of discounted cash flow models of the PGC Senior Secured Notes both (i) with the mandatory prepayment feature and (ii) excluding the mandatory prepayment feature. Level 3 Fair Value Measurements Commodity Derivative Contracts. The fair values of the Company’s natural gas basis swaps are based upon quotes obtained from counterparties to the derivative contracts. These values were reviewed internally for reasonableness through the use of a discounted cash flow model using non-exchange traded regional pricing information. Additionally, the Company applied a weighted average credit default risk rating factor for its counterparties or gave effect to its credit risk, as applicable, in determining the fair value of these commodity derivative contracts. The significant unobservable input used in the fair value measurement of the Company’s natural gas basis swaps is the estimate of future natural gas basis differentials. Significant increases (decreases) in natural gas basis differentials could result in a significantly higher (lower) fair value measurement. The significant unobservable inputs and the range and weighted average of these inputs used in the fair value measurements of the Company’s natural gas basis swaps at March 31, 2016 and December 31, 2015 are included in the table below. Unobservable Input Range Weighted Average Fair Value (Price per Mcf) (In thousands) March 31, 2016 Natural gas basis differential forward curve $ (0.12 ) – $ (0.30 ) $ (0.24 ) $ (1,162 ) December 31, 2015 Natural gas basis differential forward curve $ (0.06 ) – $ (0.28 ) $ (0.22 ) $ (1,748 ) Debt Holder Conversion Feature . The Company’s 8.125% Convertible Senior Notes due 2022 and 7.5% Convertible Senior Notes due 2023 (collectively, the “Convertible Senior Unsecured Notes” and together with the Senior Unsecured Notes, the “Unsecured Notes”), each contain a conversion option whereby the Convertible Senior Unsecured Notes holders have the option to convert the notes into shares of Company common stock. Further, with respect to any such conversions prior to the second anniversary of the issuance of the Convertible Senior Unsecured Notes, in addition to the shares deliverable upon conversion, holders are entitled to receive an early conversion payment. These conversion features have been identified as embedded derivatives that meet the criteria to be bifurcated from their host contracts, the Convertible Senior Unsecured Notes, and accounted for separately from those notes. The holder conversion features are recorded at fair value each reporting period. The fair values of the holder conversion features were determined using a binomial lattice model based on certain assumptions including (i) the Company’s stock price, (ii) risk-free rate, (iii) recovery rate, (iv) hazard rate and (v) expected volatility. The significant unobservable input used in the fair value measurement of the conversion features is the hazard rate, an estimate of default probability. Significant increases (decreases) in the hazard rate could result in significantly (lower) higher fair value measurement. The significant unobservable inputs and range and weighted average of these inputs used in the fair value measurement of the conversion options at March 31, 2016 and December 31, 2015 are included in the table below. Unobservable Input Range Weighted Average Fair Value (In thousands) March 31, 2016 Debt conversion feature hazard rate 104.9 % – 114.2 % 109.9 % $ 7,281 December 31, 2015 Debt conversion feature hazard rate 114.0 % – 135.2 % 119.2 % $ 29,355 See further discussion of the Convertible Senior Unsecured Notes at Note 7 . Guarantee. The Company guaranteed on behalf of Fieldwood Energy, LLC (“Fieldwood”) certain plugging and abandonment obligations associated with the sale of its Gulf of Mexico and Gulf Coast oil and natural gas properties (the “Gulf Properties”) from the date of closing in February 2014 until the Company was released from the guarantee in the third quarter of 2015. The fair value of this guarantee was based on the present value of estimated future payments for plugging and abandonment obligations associated with the Gulf Properties, adjusted for the cumulative probability of Fieldwood’s default prior to the Company’s release by the Bureau of Ocean Energy Management (“BOEM”) from its obligation under the guarantee ( 3.71% at December 31, 2014). The discount and probability of default rates were based upon inputs that are readily available in the public market, such as historical option adjusted spreads of the Company’s senior notes, which are publicly traded, and historical default rates of publicly traded companies with credit ratings similar to Fieldwood. The significant unobservable input used in the fair value measurement of the guarantees was the estimate of future payments for plugging and abandonment of approximately $372.0 million , which was developed based upon third-party quotes and then-current actual costs. Fair Value - Recurring Measurement Basis The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis by the fair value hierarchy (in thousands): March 31, 2016 Fair Value Measurements Netting(1) Assets/Liabilities at Fair Value Level 1 Level 2 Level 3 Assets Commodity derivative contracts $ — $ 62,210 $ — $ (807 ) $ 61,403 Investments 9,049 — — — 9,049 $ 9,049 $ 62,210 $ — $ (807 ) $ 70,452 Liabilities Commodity derivative contracts $ — $ — $ 1,162 $ (807 ) $ 355 Debt holder conversion feature — — 7,281 — 7,281 Mandatory prepayment feature - PGC Senior Secured Notes — 2,496 — — 2,496 $ — $ 2,496 $ 8,443 $ (807 ) $ 10,132 December 31, 2015 Fair Value Measurements Netting(1) Assets/Liabilities at Fair Value Level 1 Level 2 Level 3 Assets Commodity derivative contracts $ — $ 85,524 $ — $ (1,175 ) $ 84,349 Investments 10,106 — — — 10,106 $ 10,106 $ 85,524 $ — $ (1,175 ) $ 94,455 Liabilities Commodity derivative contracts $ — $ — $ 1,748 $ (1,175 ) $ 573 Debt holder conversion feature — — 29,355 — 29,355 Mandatory prepayment feature - PGC Senior Secured Notes — 2,941 — — 2,941 $ — $ 2,941 $ 31,103 $ (1,175 ) $ 32,869 ____________________ (1) Represents the effect of netting assets and liabilities for counterparties with which the right of offset exists. Level 3 - Commodity Derivative Contracts. The table below sets forth a reconciliation of the Company’s Level 3 fair value measurements for commodity derivative contracts during the three -month periods ended March 31, 2016 and 2015 (in thousands): Three Months Ended March 31, 2016 2015 Beginning balance $ (1,748 ) $ 350 Purchases — 347 Loss on commodity derivative contracts 586 635 Ending balance $ (1,162 ) $ 1,332 Losses due to changes in fair value of the Company’s Level 3 commodity derivative contracts have been included in gain on derivative contracts in the accompanying unaudited condensed consolidated statements of operations. See Note 8 for further discussion of the Company’s derivative contracts. Level 3 - Debt Holder Conversion Feature. The table below sets forth a reconciliation of the Company’s Level 3 fair value measurements for debt holder conversion features during the three -month period ended March 31, 2016 (in thousands): Beginning balance $ 29,355 Gain on derivative holder conversion feature (880 ) Conversions (21,194 ) Ending balance $ 7,281 The fair value of the conversion features are determined quarterly with changes in fair value recorded as interest expense. Level 3 - Guarantee . The table below sets forth a reconciliation of the Company’s Level 3 fair value measurements for the guarantee during the three -month period ended March 31, 2015 (in thousands): Beginning balance $ 5,104 Gain on guarantee (313 ) Ending balance $ 4,791 While in effect, the fair value of the guarantee was determined quarterly with changes in fair value recorded as an adjustment to the full cost pool. Transfers. The Company recognizes transfers between fair value hierarchy levels as of the end of the reporting period in which the event or change in circumstances causing the transfer occurred. During the three -month periods ended March 31, 2016 and 2015 , the Company did not have any transfers between Level 1, Level 2 or Level 3 fair value measurements. Fair Value of Financial Instruments The Company measures the fair value of its Senior Secured Notes, its 8.75% Senior Notes due 2020, 7.5% Senior Notes due 2021, 8.125% Senior Notes due 2022, and 7.5% Senior Notes due 2023 (collectively, the “Senior Unsecured Notes”) and the Convertible Senior Unsecured Notes using pricing that is readily available in the public market. The Company classifies these inputs as Level 2 in the fair value hierarchy. The estimated fair values and carrying values of the Company’s senior notes at March 31, 2016 and December 31, 2015 were as follows (in thousands): March 31, 2016 December 31, 2015 Fair Value Carrying Value Fair Value Carrying Value 8.75% Senior Secured Notes due 2020 $ 332,930 $ 1,267,924 $ 403,098 $ 1,265,814 Senior Unsecured Notes 8.75% Senior Notes due 2020 $ 24,769 $ 389,645 $ 39,740 $ 389,232 7.5% Senior Notes due 2021 $ 43,386 $ 751,416 $ 79,812 $ 751,087 8.125% Senior Notes due 2022 $ 31,610 $ 519,026 $ 57,749 $ 518,693 7.5% Senior Notes due 2023 $ 27,129 $ 535,191 $ 58,799 $ 534,869 Convertible Senior Unsecured Notes 8.125% Convertible Senior Notes due 2022 $ 103 $ 14,692 $ 44,199 $ 78,290 7.5% Convertible Senior Notes due 2023 $ 118 $ 14,577 $ 15,125 $ 24,393 See Note 7 for discussion of the Company’s debt.

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment consists of the following (in thousands): March 31, December 31, Oil and natural gas properties Proved(1) $ 11,961,413 $ 12,529,681 Unproved 350,646 363,149 Total oil and natural gas properties 12,312,059 12,892,830 Less accumulated depreciation, depletion and impairment (11,035,575 ) (11,149,888 ) Net oil and natural gas properties capitalized costs 1,276,484 1,742,942 Land 5,450 14,260 Non-oil and natural gas equipment(2) 310,122 373,687 Buildings and structures(3) 229,352 227,673 Total 544,924 615,620 Less accumulated depreciation and amortization (118,387 ) (123,860 ) Other property, plant and equipment, net 426,537 491,760 Total property, plant and equipment, net $ 1,703,021 $ 2,234,702 ____________________ (1) Includes cumulative capitalized interest of approximately $50.3 million and $48.9 million at March 31, 2016 and December 31, 2015 , respectively. (2) Includes cumulative capitalized interest of approximately $4.3 million at both March 31, 2016 and December 31, 2015 . (3) Includes cumulative capitalized interest of approximately $20.4 million at both March 31, 2016 and December 31, 2015 . The Company reduced the net carrying value of its oil and natural gas properties by $108.4 million during the three -month period ended March 31, 2016 , as a result of its quarterly full cost ceiling analysis. See Note 1 for discussion of the proportionate consolidation of the Royalty Trusts for the three -month period ended March 31, 2016 . The Company disposed of certain drilling and oilfield services assets previously classified as held for sale during the first quarter of 2016 and recorded a loss on the sale of those assets of $1.4 million for the three -month period ended March 31, 2016 . At March 31, 2016, the Company has remaining drilling and oilfield services assets with a net book value of $15.2 million classified as held for sale in the other current assets line of the accompanying unaudited condensed consolidated balance sheet, and expects to dispose of these assets prior to the fourth quarter of 2016. Drilling Carry Commitments Under the terms of an agreement with Repsol E&P USA, Inc. (“Repsol”), the Company has agreed to carry Repsol’s drilling and completion costs totaling up to approximately $31.0 million for wells drilled in an area of mutual interest. The Company incurred $5.2 million toward this obligation during the three-month period ended March 31, 2016 and had $9.9 million , under the obligation, remaining at March 31, 2016 . Other than the above, the Company has no carry or drilling obligations to Repsol.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist of the following (in thousands): March 31, December 31, Investments $ 9,049 $ 10,106 Senior credit facility debt issuance costs, net of amortization 3,012 3,131 Utility deposits 4,796 — Other 296 — Total other assets $ 17,153 $ 13,237

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt Debt, net of unamortized discounts, premiums, and deferred costs of $157.9 million and $342.6 million , and including the fair value of debt derivatives of $9.8 million and $32.3 million , at March 31, 2016 and December 31, 2015 , respectively, consists of the following (in thousands): March 31, December 31, Senior credit facility $ 488,900 $ — 8.75% Senior Secured Notes due 2020 1,267,924 1,265,814 Senior Unsecured Notes 8.75% Senior Notes due 2020 389,645 389,232 7.5% Senior Notes due 2021 751,416 751,087 8.125% Senior Notes due 2022 519,026 518,693 7.5% Senior Notes due 2023 535,191 534,869 Convertible Senior Unsecured Notes 8.125% Convertible Senior Notes due 2022 14,692 78,290 7.5% Convertible Senior Notes due 2023 14,577 24,393 Total debt 3,981,371 3,562,378 Less: current maturities of long-term debt(1) 3,981,371 — Long-term debt $ — $ 3,562,378 ____________________ (1) Due to existing and anticipated covenant violations, the Company’s long-term debt was classified as current at March 31, 2016 . See Note 2 for further discussion of such covenant violations. Senior Credit Facility The senior credit facility is available to be drawn on subject to limitations based on its terms and certain financial covenants. The senior credit facility contains financial covenants, including maintenance of agreed upon levels for the (a) ratio of total secured debt under the senior credit facility to EBITDA, which may not exceed 2.00 :1.00 at each quarter end and (b) ratio of current assets to current liabilities, which must be at least 1.0 :1.0 at each quarter end. For the purpose of the current ratio calculation, any amounts available to be drawn under the senior credit facility are included in current assets, and unrealized assets and liabilities resulting from mark-to-market adjustments on the Company’s commodity derivative contracts are disregarded. The senior credit facility matures on the earlier of March 2, 2020 and 91 days prior to the earliest date of any maturity under or mandatory offer to repurchase the Company’s currently outstanding notes. The senior credit facility also contains various covenants that limit the ability of the Company and certain of its subsidiaries to: grant certain liens; make certain loans and investments; make distributions; redeem stock; redeem or prepay debt; merge or consolidate with or into a third party; or engage in certain asset dispositions, including a sale of all or substantially all of the Company’s assets. The terms of the senior credit facility allow the Company to redeem or purchase outstanding Senior Unsecured Notes for up to $275.0 million in cash subject to certain limitations. Additionally, the senior credit facility limits the ability of the Company and certain of its subsidiaries to incur additional indebtedness with certain exceptions. As of and during the three -month period ended March 31, 2016 , the Company was not in compliance with all applicable financial covenants under the senior credit facility, as its ratio of current assets to current liabilities was less than 1.0 :1.0 due to the classification of its long-term debt as current. The Company’s filing of the Bankruptcy Petitions constitutes an event of default that accelerated the Company’s obligations under its senior credit facility. Under the Bankruptcy Code, the creditors under these debt agreements are stayed from taking any action against the Company as a result of an event of default. See Note 17 for additional details about the Company’s Bankruptcy Petitions and the Chapter 11 Cases. The obligations under the senior credit facility are guaranteed by certain Company subsidiaries and are secured by first priority liens on all shares of capital stock of certain of the Company’s material present and future subsidiaries, all of the Company’s intercompany debt, and certain of the Company’s other assets, including proved oil, natural gas and NGL reserves representing at least 80.0% of the discounted present value (as defined in the senior credit facility) of proved oil, natural gas and NGL reserves of the Company. At the Company’s election, interest under the senior credit facility, as amended, is determined by reference to (a) the ICE Benchmark Administration Limited LIBOR (“LIBOR”) plus an applicable margin between 1.750% and 2.750% per annum or (b) the “base rate,” which is the highest of (i) the federal funds rate plus 0.5% , (ii) the prime rate published by Royal Bank of Canada under the senior credit facility or (iii) the one-month Eurodollar rate (as defined in the senior credit facility) plus 1.00% per annum, plus, in each case under scenario (b), an applicable margin between 0.750% and 1.750% per annum. Interest is payable quarterly for base rate loans and at the applicable maturity date for LIBOR loans, except that if the interest period for a LIBOR loan is six months or longer, interest is paid at the end of each three-month period. Quarterly, the Company pays commitment fees assessed at an annual rate of 0.5% on any available portion of the senior credit facility. Borrowings and letter of credit obligations under the senior credit facility may not exceed the lower of the committed amount, which is currently $1.0 billion , or the borrowing base. On March 11, 2016, the administrative agent notified the Company that the lenders had elected to reduce the borrowing base to $340.0 million from $500.0 million pursuant to a special redetermination. On March 21, 2016, the Company notified the administrative agent that the Company would submit for the administrative agent’s consideration proposed additional oil and gas properties to serve as collateral under the senior credit facility sufficient to support a borrowing base of $500.0 million . Additionally, the Company notified the administrative agent that it believed the currently pledged assets are sufficient to support a borrowing base of $500.0 million and reserved the right to exercise all other options available to remedy the borrowing base deficiency, if any. On April 20, 2016, the Company submitted such additional properties for consideration by its lenders. Pursuant to the terms of the Restructuring Support Agreement entered into on May 11, 2016, the lenders under the senior credit facility have agreed to forbear from exercising any remedies available to them under the First Lien Credit Agreement in connection with the Company’s failure to support a borrowing base of $500.0 million until May 31, 2016. See Note 17 for further discussion of the Restructuring Support Agreement. Additionally, the First Lien Credit Agreement permits the Company and certain of its subsidiaries to incur additional indebtedness in an aggregate principal amount not to exceed $1.75 billion , which may be secured solely by collateral securing the senior credit facility on a junior lien basis. Any junior lien debt shall be subject to the terms and conditions set forth in an intercreditor agreement and shall mature no earlier than January 21, 2020. The borrowing base under the senior credit facility is reduced by $0.25 for every $1.00 of junior debt incurred above $1.50 billion . The senior credit facility had $488.9 million drawn at March 31, 2016 and had $10.4 million in outstanding letters of credit, which reduce the availability under the senior credit facility on a dollar-for-dollar basis. Additionally, at March 31, 2016 , the Company had incurred $1.3 billion in junior lien debt subject to an intercreditor agreement as a result of the issuance of Senior Secured Notes in June 2015 and the PCG Senior Secures Notes in October 2015. Senior Secured Notes The Company issued $1.25 billion of 8.75% Senior Secured Notes due 2020 in June 2015. Net proceeds from the issuance were approximately $1.21 billion after deducting offering expenses, a portion of which was used to repay amounts outstanding at that time under the Company’s senior credit facility. The Senior Secured Notes were issued to qualified institutional buyers eligible under Rule 144A of the Securities Act and to persons outside the United States under Regulation S of the Securities Act. Additionally, the Company issued the PGC Senior Secured Notes in conjunction with the acquisition of and termination of a gathering agreement with PGC in October 2015. Because the PGC Senior Secured Notes were issued as partial consideration for the acquisition and termination, these notes were recorded at fair value of approximately $50.3 million ( $78.0 million par value, including mandatory prepayment feature liabilities of $2.8 million , net of $30.5 million discount) upon their issuance. Fair value at issuance was determined based upon the then-current market value of the Senior Secured Notes. The PGC Senior Secured Notes were issued at a discount that is being amortized to interest expense over the term of the Senior Secured Notes. The Company’s Senior Secured Notes bear interest at a fixed rate of 8.75% per annum, payable semi-annually, with the principal due upon maturity. The Senior Secured Notes are redeemable, in whole or in part, prior to their maturity at specified redemption prices and are jointly and severally guaranteed unconditionally, in full, on a second-priority secured basis by certain of the Company’s wholly owned subsidiaries. The Senior Secured Notes are secured by second-priority liens on all of the Company’s and certain of the Company’s wholly owned subsidiaries’ assets that secure the senior credit facility on a first-priority basis; provided, however, the security interest in those assets that secure the Senior Secured Notes and the guarantees will be contractually subordinated to liens thereon that secure the credit facility and certain other permitted indebtedness. Consequently, the Senior Secured Notes and the guarantees will be effectively subordinated to the credit facility and such other indebtedness to the extent of the value of such assets. Debt issuance costs of $39.3 million incurred in connection with the offering of the Senior Secured Notes outstanding at March 31, 2016 are included in current maturities of long-term debt in the accompanying unaudited condensed consolidated balance sheet and are being amortized to interest expense over the term of Senior Secured Notes. Maturity Date and Mandatory Prepayment Feature. Pursuant to the indenture, the Senior Secured Notes will mature on June 1, 2020; provided, however, that if on October 15, 2019, the aggregate outstanding principal amount of the unsecured 8.75% Senior Notes due 2020 exceeds $100.0 million , the Senior Secured Notes will mature on October 16, 2019. See further discussion of the mandatory prepayment feature, which with respect to the PGC Senior Secured Notes is an embedded derivative that has been accounted for separately from these notes, at Note 4 and Note 8 . Indenture. The indenture governing the Senior Secured Notes contains covenants that restrict the Company’s ability to take a variety of actions, including limitations on the payment of dividends, incurrence of indebtedness, create liens, enter into consolidations or mergers, purchase or redeem stock or subordinated or unsecured indebtedness, certain dispositions and transfers of assets, transactions with related parties, make investments and refinance certain indebtedness. As of and during the three-month period ended March 31, 2016 , the Company was in compliance with all of the covenants contained in the indenture governing its outstanding Senior Secured Notes. The Company’s filing of the Bankruptcy Petitions constitutes an event of default that accelerated the Company’s obligations under its Senior Secured Notes. Under the Bankruptcy Code, the creditors under these debt agreements are stayed from taking any action against the Company as a result of an event of default. See Note 17 for additional details about the Company’s Bankruptcy Petitions and the Chapter 11 Cases. Senior Unsecured Notes The Company’s Senior Unsecured Notes bear interest at a fixed rate per annum, payable semi-annually, with the principal due upon maturity. Certain of the Senior Unsecured Notes were issued at a discount or a premium. The discount or premium is amortized to interest expense over the term of the respective series of Senior Unsecured Notes. The Senior Unsecured Notes are redeemable, in whole or in part, prior to their maturity at specified redemption prices and are jointly and severally guaranteed unconditionally, in full, on an unsecured basis by certain of the Company’s wholly owned subsidiaries. See Note 16 for condensed financial information of the subsidiary guarantors. Debt issuance costs of $48.9 million incurred in connection with the offerings and subsequent registered exchange offers of the Senior Unsecured Notes outstanding, including the impact of write offs in conjunction with the repurchase and exchange discussed below, are included in current maturities of long-term debt in the accompanying unaudited condensed consolidated balance sheet at March 31, 2016 and are being amortized to interest expense over the term of the respective series of Senior Unsecured Notes. Indentures. Each of the indentures governing the Company’s Senior Unsecured Notes contains covenants that restrict the Company’s ability to take a variety of actions, including limitations on the incurrence of indebtedness, payment of dividends, investments, asset sales, certain asset purchases, transactions with related parties and consolidations or mergers. As of and during the three -month periods ended March 31, 2016 , the Company was in compliance with all of the covenants contained in the indentures governing its outstanding Senior Unsecured Notes. The Company’s filing of the Bankruptcy Petitions constitutes an event of default that accelerated the Company’s obligations under its Senior Unsecured Notes. Under the Bankruptcy Code, the creditors under these debt agreements are stayed from taking any action against the Company as a result of an event of default. See Note 17 for additional details about the Company’s Bankruptcy Petitions and the Chapter 11 Cases. Convertible Senior Unsecured Notes The Convertible Senior Unsecured Notes were issued in conjunction with exchanges and repurchases of Senior Unsecured Notes that took place in August and October 2015. The Convertible Senior Unsecured Notes are guaranteed by the same guarantors that guarantee the Senior Unsecured Notes and are subject to covenants and bear payment terms substantially identical to those of the corresponding series of Senior Unsecured Notes of similar tenor, other than the conversion features, described further below, and the extension of the final maturity by one day. The transactions were determined to be an extinguishment of each of the Senior Unsecured Notes exchanged. As such, the newly-issued Convertible Senior Unsecured Notes were recorded at fair value on the date of issuance, which resulted in a discount that is being amortized to interest expense over the term of the respective series of Convertible Senior Unsecured Notes. Debt issuance costs of $1.9 million incurred in connection with the issuance of the Convertible Senior Unsecured Notes, including the impact of write offs in conjunction with the conversions discussed below, are included in current maturities of long-term debt in the unaudited condensed consolidated balance sheet at March 31, 2016 and are being amortized to interest expense over the term of the respective series of Convertible Senior Unsecured Notes. The Company’s filing of the Bankruptcy Petitions constitutes an event of default that accelerated the Company’s obligations under its Convertible Senior Unsecured Notes. Under the Bankruptcy Code, the creditors under these debt agreements are stayed from taking any action against the Company as a result of an event of default. See Note 17 for additional details about the Company’s Bankruptcy Petitions and the Chapter 11 Cases. Conversion Features. The Convertible Senior Unsecured Notes are convertible, at the option of the holders, into shares of common stock at any time prior to (i) the fifth business day following the date of a mandatory conversion notice, discussed further below, (ii) with respect to Convertible Senior Unsecured Notes called for redemption, the business day immediately preceding the redemption date or (iii) the business day immediately preceding the maturity date. The conversion rate is approximately 363.6 shares of common stock per $1,000 principal amount of the Convertible Senior Unsecured Notes, subject to customary adjustments. With respect to any conversions prior to the first anniversary of the issuance of the Convertible Senior Unsecured notes, in addition to the shares deliverable upon conversion, holders are entitled to receive an early conversion payment equal to the amount of 18 months of interest payable on the applicable series of converted Convertible Senior Unsecured Notes. With respect to any conversion subsequent to the first anniversary of the issuance of the Convertible Senior Unsecured Notes, but on or prior to the second anniversary of the issuance of such Convertible Senior Unsecured Notes, holders are entitled to receive an early conversion payment equal to the amount of 12 months of interest payable on the applicable series of converted Convertible Senior Unsecured Notes. The dilutive effect, if any, of the Convertible Senior Unsecured Notes on the Company’s earnings per share is determined using the if-converted method. See further discussion at Note 13 . See further discussion of the holders’ conversion features, which are embedded derivatives that have been accounted for separately from the Convertible Senior Unsecured Notes, at Note 4 and Note 8 . In addition to the holders’ conversion feature, the Convertible Senior Unsecured Notes contain a provision whereby the Company, subject to compliance with certain conditions, has the right to mandatorily convert the Convertible Senior Unsecured Notes to shares of Company common stock, in whole or in part, at a rate of approximately 363.6 shares of common stock per $1,000 principal amount of Convertible Senior Unsecured Notes, if the volume weighted average price of the Company’s stock exceeds 40.0% of an applicable conversion price of the Convertible Senior Unsecured Notes for a specific period of time. The conversion price threshold, initially set at $1.10 , is subject to certain customary adjustments. No early conversion payments will be made upon a mandatory conversion. Conversions to Common Stock. During the three-month period ended March 31, 2016 , holders of $200.5 million aggregate principal amount ( $67.4 million net of discount and including holders’ conversion feature) of 8.125% Convertible Senior Notes due 2022 and $31.6 million aggregate principal amount ( $10.4 million net of discount and holders’ conversion feature) of 7.5% Convertible Senior Notes due 2023 exercised conversion options applicable to those notes, resulting in the issuance of approximately 84.4 million shares of Company common stock and aggregate cash payments of $33.5 million for accrued interest and early conversion payments. The conversions resulted in a gain on extinguishment of debt totaling $41.3 million , including the write off of $4.3 million of net unamortized debt issuance costs, which is included in current maturities of long-term debt on the unaudited condensed consolidated statement of operations for the three-month period ended March 31, 2016 .

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives The Company has not designated any of its derivative contracts as hedges for accounting purposes. The Company records all derivative contracts at fair value. Changes in derivative fair values are recognized in earnings. Commodity Derivatives. The Company is exposed to commodity price risk, which impacts the predictability of its cash flows from the sale of oil and natural gas. The Company seeks to manage this risk through the use of commodity derivative contracts, which allow the Company to limit its exposure to commodity price volatility on a portion of its forecasted oil and natural gas sales. None of the Company’s commodity derivative contracts may be terminated prior to contractual maturity solely as a result of a downgrade in the credit rating of a party to the contract. Cash settlements and valuation gains and losses on commodity derivative contracts are included in gain on derivative contracts in the unaudited condensed consolidated statements of operations. Commodity derivative contracts are settled on a monthly or quarterly basis. Derivative assets and liabilities arising from the Company’s commodity derivative contracts with the same counterparty that provide for net settlement are reported on a net basis in the consolidated balance sheets. At March 31, 2016 , the Company’s commodity derivative contracts consisted of fixed price swaps, basis swaps and collars, which are described below: Fixed price swaps The Company receives a fixed price for the contract and pays a floating market price to the counterparty over a specified period for a contracted volume. Basis swaps The Company receives a payment from the counterparty if the settled price differential is greater than the stated terms of the contract and pays the counterparty if the settled price differential is less than the stated terms of the contract, which guarantees the Company a price differential for oil or natural gas from a specified delivery point. Collars Three-way collars have two fixed floor prices (a purchased put and a sold put) and a fixed ceiling price (call). The purchased put establishes a minimum price unless the market price falls below the sold put, at which point the minimum price would be New York Mercantile Exchange (“NYMEX”) plus the difference between the purchased put and the sold put strike price. The call establishes a maximum price (ceiling) the Company will receive for the volumes under the contract. If the market price is between the ceiling price and purchased put, no payments are due from either party. The Company recorded a gain on commodity derivative contracts of $2.8 million and $49.8 million for the three -month periods ended March 31, 2016 and 2015 , respectively, which includes net cash receipts upon settlement of $25.5 million and $137.0 million , respectively. Master Netting Agreements and the Right of Offset. The Company has master netting agreements with all of its commodity derivative counterparties and has presented its derivative assets and liabilities with the same counterparty on a net basis in the consolidated balance sheets. As a result of the netting provisions, the Company's maximum amount of loss under commodity derivative transactions due to credit risk is limited to the net amounts due from its counterparties. As of March 31, 2016 , the counterparties to the Company’s open commodity derivative contracts consisted of six financial institutions, three of which are also lenders under the Company’s senior credit facility. The Company is not required to post additional collateral under its commodity derivative contracts as the majority of the counterparties to the Company’s commodity derivative contracts share in the collateral supporting the Company’s senior credit facility. The following tables summarize (i) the Company's commodity derivative contracts on a gross basis, (ii) the effects of netting assets and liabilities for which the right of offset exists based on master netting arrangements and (iii) for the Company’s net derivative liability positions, the applicable portion of shared collateral under the senior credit facility (in thousands): March 31, 2016 Gross Amounts Gross Amounts Offset Amounts Net of Offset Financial Collateral Net Amount Assets Derivative contracts - current $ 62,210 $ (807 ) $ 61,403 $ — $ 61,403 Derivative contracts - noncurrent — — — — — Total $ 62,210 $ (807 ) $ 61,403 $ — $ 61,403 Liabilities Derivative contracts - current $ 1,162 $ (807 ) $ 355 $ (355 ) $ — Derivative contracts - noncurrent — — — — — Total $ 1,162 $ (807 ) $ 355 $ (355 ) $ — December 31, 2015 Gross Amounts Gross Amounts Offset Amounts Net of Offset Financial Collateral Net Amount Assets Derivative contracts - current $ 85,524 $ (1,175 ) $ 84,349 $ — $ 84,349 Derivative contracts - noncurrent — — — — — Total $ 85,524 $ (1,175 ) $ 84,349 $ — $ 84,349 Liabilities Derivative contracts - current $ 1,748 $ (1,175 ) $ 573 $ (573 ) $ — Derivative contracts - noncurrent — — — — — Total $ 1,748 $ (1,175 ) $ 573 $ (573 ) $ — At March 31, 2016 , the Company’s open commodity derivative contracts consisted of the following: Oil Price Swaps Notional (MBbls) Weighted Average Fixed Price April 2016 - December 2016 1,100 $ 88.36 Natural Gas Basis Swaps Notional (MMcf) Weighted Average Fixed Price April 2016 - December 2016 8,250 $ (0.38 ) Oil Collars - Three-way Notional (MBbls) Sold Put Purchased Put Sold Call April 2016 - December 2016 1,646 $ 82.99 $ 90.00 $ 100.58 Debt - Embedded Derivatives Debt Holder Conversion Feature. As discussed further in Note 4 and Note 7 , the Convertible Senior Unsecured Notes contain a conversion feature that is exercisable at the holders’ option. This conversion feature has been identified as an embedded derivative as the feature (i) possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, the Convertible Senior Unsecured Notes, and (ii) separate, stand-alone instruments with the same terms would qualify as derivative instruments. As such, the holders’ conversion feature has been bifurcated and accounted for separately from the Convertible Senior Unsecured Notes. The holders’ conversion feature is recorded at fair value each reporting period with changes in fair value included in interest expense in the unaudited condensed consolidated statement of operations for the three -month period ended March 31, 2016 . Mandatory Prepayment Feature - PGC Senior Secured Notes. As discussed further in Note 4 and Note 7 , the Senior Secured Notes contain a mandatory prepayment feature that is triggered if the outstanding principal amount of the unsecured 8.75% Senior Notes due 2020 exceeds $100.0 million on October 15, 2019. With respect to the PGC Senior Secured Notes, which were issued at a substantial discount, this mandatory prepayment feature has been identified as an embedded derivative as the feature (i) possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, the PGC Senior Secured Notes, and (ii) separate, stand-alone instruments with the same terms would qualify as derivative instruments. As such, the mandatory prepayment feature contained in the PGC Senior Secured Notes has been bifurcated and accounted for separately from those notes. The mandatory prepayment feature contained in the PGC Senior Secured notes is recorded at fair value each reporting period with changes in fair value included in interest expense in the accompanying consolidated statement of operations for the year ended March 31, 2016 . Fair Value of Derivatives. The following table presents the fair value of the Company’s derivative contracts as of March 31, 2016 and December 31, 2015 on a gross basis without regard to same-counterparty netting (in thousands): Type of Contract Balance Sheet Classification March 31, December 31, Derivative assets Oil price swaps Derivative contracts-current $ 50,793 $ 68,224 Oil collars - three way Derivative contracts-current 11,417 17,300 Derivative liabilities Natural gas basis swaps Derivative contracts-current (1,162 ) (1,748 ) Debt holder conversion feature Current maturities of long-term debt (7,281 ) (29,355 ) Mandatory prepayment feature - PGC Senior Secured Notes Current maturities of long-term debt (2,496 ) (2,941 ) Total net derivative contracts $ 51,271 $ 51,480 See Note 4 for additional discussion of the fair value measurement of the Company’s derivative contracts and Note 7 for discussion of the debt holder conversion feature.

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations A reconciliation of the beginning and ending aggregate carrying amounts of the asset retirement obligations for the period from December 31, 2015 to March 31, 2016 is as follows (in thousands): Asset retirement obligations at December 31, 2015 $ 103,578 Liability incurred upon acquiring and drilling wells 153 Liability settled or disposed in current period(1) (34,600 ) Accretion 1,588 Asset retirement obligations at March 31, 2016 70,719 Less: current portion 8,440 Asset retirement obligations, net of current $ 62,279 ____________________ (1) Includes $34.1 million associated with the divestiture of the Company’s oil and natural gas properties located in the Piñon field in the WTO, as discussed in Note 3 .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings On April 5, 2011, Wesley West Minerals, Ltd. and Longfellow Ranch Partners, LP filed suit against the Company and SandRidge Exploration and Production, LLC (collectively, the “SandRidge Entities”) in the 83rd District Court of Pecos County, Texas. The plaintiffs, who have leased mineral rights to the SandRidge Entities in Pecos County, allege that the SandRidge Entities have not properly paid royalties on all volumes of natural gas and CO 2 produced from the acreage leased from the plaintiffs. The plaintiffs also allege that the SandRidge Entities have inappropriately failed to pay royalties on CO 2 produced from the plaintiffs' acreage that results from the treatment of natural gas at Occidental’s CO 2 treatment plant in Pecos County, Texas the (“Century Plant”). The plaintiffs seek approximately $45.5 million in actual damages for the period of time between January 2004 and December 2011, punitive damages and a declaration that the SandRidge Entities must pay royalties on CO 2 produced from the plaintiffs' acreage that results from treatment of natural gas at the Century Plant. The Commissioner of the General Land Office of the State of Texas (“GLO”) is named as an additional defendant in the lawsuit as some of the affected oil and natural gas leases described in the plaintiffs' allegations cover mineral classified lands in which the GLO is entitled to one-half of the royalties attributable to such leases. The GLO has filed a cross-claim against the SandRidge Entities asserting the same claims as the plaintiffs with respect to the leases covering mineral classified lands and seeking approximately $13.0 million in actual damages, inclusive of penalties and interest. On February 5, 2013, the Company received a favorable summary judgment ruling that effectively removes a majority of the plaintiffs' and GLO's claims. On April 29, 2013, the court entered an order allowing for an interlocutory appeal of its summary judgment ruling. The plaintiffs appealed the rulings to the Texas Court of Appeals in El Paso. On November 19, 2014, that court issued its opinion, which affirmed the trial court’s summary judgment rulings in part, but reversing them in part. The Court of Appeals affirmed the summary judgment rulings in the SandRidge Entities’ favor against the GLO. The court also affirmed the summary judgment rulings in the SandRidge Entities’ favor against Wesley West Minerals, Ltd., on the largest oil and gas lease involved in the case, which accounted for much of the total damages the plaintiffs are claiming. The court reversed certain rulings on other leases, thus deciding those matters for the plaintiffs. The parties have petitioned the Supreme Court of Texas for review of the Court of Appeals’ decision. The Company intends to continue to defend the remaining issues in the trial court, as well as future appellate proceedings. At the time of the rulings on summary judgment, the lawsuit was still in the discovery stage and, accordingly, an estimate of reasonably possible losses, if any, associated with the remaining causes of action and those rulings reversed by the Court of Appeals cannot be made until all of the facts, circumstances and legal theories relating to such claims and the SandRidge Entities' defenses are fully disclosed and analyzed. The Company has not established any reserves relating to this action. Between December 2012 and March 2013, seven putative shareholder derivative actions were filed in state and federal court in Oklahoma: • Arthur I. Levine v. Tom L. Ward, et al., and SandRidge Energy, Inc., Nominal Defendant - filed on December 19, 2012 in the U.S. District Court for the Western District of Oklahoma • Deborah Depuy v. Tom L. Ward, et al., and SandRidge Energy, Inc., Nominal Defendant - filed on January 22, 2013 in the U.S. District Court for the Western District of Oklahoma • Paul Elliot, on Behalf of the Paul Elliot IRA R/O, v. Tom L. Ward, et al., and SandRidge Energy, Inc., Nominal Defendant filed on January 29, 2013 in the U.S. District Court for the Western District of Oklahoma • Dale Hefner v. Tom L. Ward, et al., and SandRidge Energy, Inc., Nominal Defendant - filed on January 4, 2013 in the District Court of Oklahoma County, Oklahoma • Rocky Romano v. Tom L. Ward, et al., and SandRidge Energy, Inc., Nominal Defendant - filed on January 22, 2013 in the District Court of Oklahoma County, Oklahoma • Joan Brothers v. Tom L. Ward, et al., and SandRidge Energy, Inc., Nominal Defendant - filed on February 15, 2013 in the U.S. District Court for the Western District of Oklahoma • Lisa Ezell, Jefferson L. Mangus, and Tyler D. Mangus v. Tom L. Ward, et al., and SandRidge Energy, Inc., Nominal Defendant - filed on March 22, 2013 in the U.S. District Court for the Western District of Oklahoma Each lawsuit identified above was filed derivatively on behalf of the Company and names as defendants current and former directors of the Company. The Hefner lawsuit also names as defendants certain current and former directors and senior executive officers of the Company. All seven lawsuits assert overlapping claims - generally that the defendants breached their fiduciary duties, mismanaged the Company, wasted corporate assets, and engaged in, facilitated or approved self-dealing transactions in breach of their fiduciary obligations. The Depuy lawsuit also alleges violations of federal securities laws in connection with the Company allegedly filing and distributing certain misleading proxy statements. The lawsuits seek, among other relief, injunctive relief related to the Company's corporate governance and unspecified damages. On April 10, 2013, the U.S. District Court for the Western District of Oklahoma consolidated the Levine, Depuy, Elliot, Brothers, and Ezell actions (the “Federal Shareholder Derivative Litigation”) under the caption “In re SandRidge Energy, Inc. Shareholder Derivative Litigation,” appointed a lead plaintiff and lead counsel, and ordered the lead plaintiff to file a consolidated complaint by May 1, 2013. On June 3, 2013, the Company and the individual defendants filed their respective motions to dismiss the consolidated complaint. On September 11, 2013, the court granted the defendants’ respective motions to dismiss the consolidated complaint without prejudice, and granted plaintiffs leave to file an amended consolidated complaint. The plaintiffs filed an amended consolidated complaint on October 9, 2013, in which plaintiffs allege that: (i) the Company’s former Chief Executive Officer (“CEO”), Tom Ward, breached his fiduciary duties by usurping corporate opportunities, (ii) certain of the Company’s current and former directors breached their fiduciary duties of care, (iii) Mr. Ward and certain of the Company’s current and former directors wasted corporate assets, (iv) certain entities allegedly affiliated with Mr. Ward aided and abetted Mr. Ward’s breaches of fiduciary duties, (v) Mr. Ward and entities allegedly affiliated with Mr. Ward misappropriated the Company’s confidential and proprietary information, and (vi) entities allegedly affiliated with Mr. Ward were unjustly enriched. On November 15, 2013, the Company and the individual defendants filed their respective motions to dismiss the amended consolidated complaint. On September 22, 2014, the court denied the motion to dismiss filed on behalf of the Company and the director defendants. The court also granted in part and denied in part the respective motions to dismiss filed on behalf of the other defendants. On May 8, 2013, the court stayed the Romano action pending further order of the court. On October 29, 2014, the court granted plaintiff’s application to dismiss the action without prejudice. On September 26, 2014, the Board formed a Special Litigation Committee (“SLC”), composed of two independent and disinterested Company directors, and delegated absolute and final authority to the SLC to review and investigate the claims alleged by the plaintiffs in the Federal Shareholder Derivative Litigation and in the Hefner action, and to determine whether or how those claims should be asserted on the Company’s behalf. On November 30, 2015, the court stayed the Hefner action until further order of the court. An estimate of reasonably possible losses associated with the Hefner action cannot be made at this time. The Company has not established any reserves relating to this action. On October 7, 2015, the derivative plaintiffs in the Federal Shareholder Derivative Litigation, the SLC, and the individual defendants in the Federal Shareholder Derivative Litigation (Tom Ward, Jim Brewer, Everett Dobson, William Gilliland, Daniel Jordan, Roy Oliver Jr., and Jeffrey Serota), executed a Stipulation of Settlement, which would result in a partial settlement of the Federal Shareholder Derivative Litigation by settling all claims against the individual defendants, subject to certain terms and conditions, including the approval of the court. Under the terms of the proposed partial settlement, the Company would implement or agree to maintain certain corporate governance reforms, and the insurers for the individual defendants would pay $38.0 million to an escrow fund, which would be used to pay certain expenses arising from pending securities litigation and, to the extent funds remain after paying such expenses, would be paid to the Company without any further restrictions on the Company’s use of such funds. The proposed partial settlement expressly provides, among other terms, that the settling defendants deny all allegations of wrongdoing and are entering into the settlement solely to avoid the costs, disruption, uncertainty, and risk of further litigation. On October 9, 2015, the court issued an Order granting preliminary approval of the Stipulation of Settlement and, after notice and a hearing on December 18, 2015, the court issued a Final Judgment and Order on December 22, 2015, granting final approval of the Stipulation of Settlement. The partial settlement did not settle any of the derivative plaintiffs’ claims against non-settling defendants WCT Resources, L.L.C., 192 Investments, L.L.C., and TLW Land & Cattle, L.P in the Federal Shareholder Derivative Litigation. On January 12, 2016, a shareholder who objected to the Stipulation of Settlement filed a notice of appeal of the court’s Final Judgment and Order approving the Stipulation of Settlement. On March 31, 2016, the derivative plaintiffs in the Federal Shareholder Derivative Litigation, the SLC, and the remaining defendants, WCT Resources, L.L.C., 192 Investments, L.L.C., and TLW Land & Cattle, L.P., executed a Stipulation of Settlement, which would resolve the remaining claims in the Federal Shareholder Derivative Litigation. Under the terms of the proposed settlement, the remaining defendants would make a payment of $500,000 to the Company, less taxes, expenses, and incentive awards. Counsel for the derivative plaintiffs have agreed that they will not seek reimbursement of expenses in excess of $120,000 . Counsel for the derivative plaintiffs have also agreed that they will not seek incentive awards for the two named plaintiffs in excess of $15,000 each. On April 6, 2016, the court issued an Order granting preliminary approval of the Stipulation of Settlement and establishing procedures for notice to shareholders and consideration of any shareholder objections to the settlement. The court also set a hearing for final approval of the proposed settlement on June 15, 2016. On December 5, 2012, James Glitz and Rodger A. Thornberry, on behalf of themselves and all other similarly situated stockholders, filed a putative class action complaint in the U.S. District Court for the Western District of Oklahoma against the Company and certain current and former executive officers of the Company. On January 4, 2013, Louis Carbone, on behalf of himself and all other similarly situated stockholders, filed a substantially similar putative class action complaint in the same court and against the same defendants. On March 6, 2013, the court consolidated these two actions under the caption “In re SandRidge Energy, Inc. Securities Litigation” (the “Securities Litigation”) and appointed a lead plaintiff and lead counsel. On July 23, 2013, plaintiffs filed a consolidated amended complaint, which asserts a variety of federal securities claims against the Company and certain of its current and former officers and directors, among other defendants, on behalf of a putative class of (a) purchasers of SandRidge common stock during the period from February 24, 2011 to November 8, 2012, (b) purchasers of common units of the Mississippian Trust I in or traceable to its initial public offering on or about April 12, 2011, and (c) purchasers of common units of the Mississippian Trust II (together with the Mississippian Trust I, the “Mississippian Trusts”) in or traceable to its initial public offering on or about April 23, 2012. The claims are based on allegations that the Company, certain of its current and former officers and directors, and the Mississippian Trusts, among other defendants, are responsible for making false and misleading statements, and omitting material information, concerning a variety of subjects, including oil and natural gas reserves, the Company's capital expenditures, and certain transactions entered into by companies allegedly affiliated with the Company's former CEO Tom Ward. On May 11, 2015, the court dismissed without prejudice plaintiffs’ claims against the Mississippian Trusts and the underwriter defendants. On August 27, 2015, the court dismissed without prejudice plaintiffs’ claims against the Company and the individual current and former officers and directors, and granted plaintiffs leave to file a second amended consolidated complaint. On October 23, 2015, plaintiffs filed their Second Consolidated Amended Complaint in which plaintiffs assert federal securities claims against the Company and certain of its current and former officers and directors on behalf of a putative class of purchasers of SandRidge common stock during the period between February 24, 2011, and November 8, 2012. The claims are based on allegations that the Company and certain of its current and former officers and directors are responsible for making false and misleading statements, and omitting material information, concerning a variety of subjects, including oil and gas reserves, the Company’s capital expenditures, and certain transactions entered into by companies allegedly affiliated with the Company’s former CEO Tom Ward. Because the Securities Litigation is in the early stages, an estimate of reasonably possible losses associated with it, if any, cannot be made until the facts, circumstances and legal theories relating to the plaintiffs' claims and defendants’ defenses are fully disclosed and analyzed. The Company has not established any reserves relating to the Securities Litigation. Each of the Mississippian Trusts has requested that the Company indemnify it for any losses it may incur in connection with the Securities Litigation. On July 15, 2013, James Hart and 15 other named plaintiffs filed an amended complaint in the United States District Court for the District of Kansas in an action undertaken individually and on behalf of others similarly situated against SandRidge Energy, Inc., SandRidge Operating Company, SandRidge Exploration and Production, LLC (“SandRidge E&P”), SandRidge Midstream, Inc., and Lariat Services, Inc. In their Amended Complaint, plaintiffs allege that the defendants failed to properly calculate overtime pay for the plaintiffs and for other similarly situated current and former employees. The plaintiffs further allege that the defendants required the plaintiffs and other similarly situated current and former employees to engage in work-related activities without pay. The plaintiffs assert claims against the defendants for (i) violations of the Fair Labor Standards Act, (ii) violations of the Kansas Wage Payment Act, (iii) breach of contract, and (iv) fraud, and seek to recover unpaid wages and overtime pay, liquidated damages, statutory penalties, economic damages, compensatory and punitive damages, attorneys’ fees and costs, and both pre- and post-judgment interest. On October 3, 2013, the plaintiffs filed a Motion for Conditional Collective Action Certification and for Judicial Notice to the Class and a Motion to Toll the Statute of Limitations. On October 11, 2013, the defendants filed a Motion to Dismiss and a Motion to Transfer Venue to the United States District Court for the Western District of Oklahoma. On April 2, 2014, the court granted the defendants’ Motion to Dismiss and granted plaintiffs leave to file an amended complaint by April 16, 2014, which they did on such date. On July 1, 2014, the court granted plaintiffs’ Motion for Conditional Collective Action Certification and for Judicial Notice to the Class, and denied plaintiffs’ Motion to Toll the Statute of Limitations. On May 27, 2015, the parties reached an agreement in principle to settle this lawsuit. Pursuant to such agreement, the Company will establish a settlement fund from which to pay participating plaintiffs’ claims as well as plaintiffs’ attorneys’ fees. The proposed settlement agreement is subject to final negotiations between the parties and court approval. During 2015, the Company established a $5.1 million reserve for this lawsuit. As previously disclosed, on December 18, 2013 the Company received a subpoena duces tecum from the U.S. Department of Justice in connection with an ongoing investigation of possible violations of antitrust laws in connection with the purchase or lease of land, oil or natural gas rights. The transactions that have been the subject of the inquiry date from 2012 and prior years. On April 7, 2015, the U.S. Department of Justice notified the Company that it is a target of a grand jury investigation in the Western District of Oklahoma concerning violations of federal antitrust law. On April 14, 2016, the U.S. Department of Justice notified the Company that it is no longer a subject or target of this grand jury investigation. On June 9, 2015, the Duane & Virginia Lanier Trust, individually and on behalf of all others similarly situated, filed a putative class action complaint in the U.S. District Court for the Western District of Oklahoma against the Company and certain of its current and former officers and directors, among other defendants, on behalf of a putative class of (a) purchasers of common units of the Mississippian Trust I pursuant or traceable to its initial public offering on or about April 7, 2011, and/or at other times during the time period between April 7, 2011, and November 8, 2012 (the “Class Period”), and (b) purchasers of common units of the Mississippian Trust II pursuant or traceable to its initial public offering on or about April 17, 2012, and/or at other times during the Class Period. The claims are based on allegations that the Company, certain of its current and former officers and directors, and the Mississippian Trusts, among other defendants, are responsible for making false and misleading statements, and omitting material information, concerning a variety of subjects, including oil and natural gas reserves and the Company's capital expenditures. The Company and the other defendants intend to defend this lawsuit vigorously. This lawsuit is in the early stages and, accordingly, an estimate of reasonably possible losses associated with this action, if any, cannot be made until the facts, circumstances and legal theories relating to the plaintiffs' claims and the defendants’ defenses are fully disclosed and analyzed. The Company has not established any reserves relating to this action. Each of the Mississippian Trusts has requested that the Company indemnify it for any losses it may incur in connection with this lawsuit. On July 30, 2015, Barton Gernandt, Jr., individually and on behalf of all others similarly situated, filed a putative class action complaint in the U.S. District Court for the Western District of Oklahoma against the Company and certain of its current and former officers and directors, among other defendants, on behalf of a putative class comprised of all persons, except the named defendants and their immediate family members, who were participants in, or beneficiaries of, the SandRidge Energy, Inc. 401(k) Plan (the “401(k) Plan”) at any time between August 2, 2012, and the present, and whose 401(k) Plan accounts included investments in SandRidge common stock. The plaintiff purports to bring the action both derivatively on the 401(k) Plan’s behalf pursuant to ERISA §§ 409 and 502, and as a class action pursuant to Rule 23 of the Federal Rules of Civil Procedure. The plaintiff’s claims are based on allegations that the defendants breached their fiduciary duties owed to the 401(k) Plan and to the 401(k) Plan participants by allowing the investment of the 401(k) Plan’s assets in SandRidge stock when it was otherwise allegedly imprudent to do so based on the financial condition of the Company and the fact the Company’s common stock was artificially inflated because, among other things, the Company materially overstated the amount of oil being produced and the ratio of oil to natural gas in one of its core holdings. On August 19, 2015, Christina A. Cummings, individually and on behalf of all others similarly situated, filed a putative class action complaint in the U.S. District Court for the Western District of Oklahoma against the Company and certain of its current and former officers, among other defendants, on behalf of a putative class comprised of all participants for whose individual accounts the 401(k) Plan held shares of the Company’s common stock from November 8, 2012, to the present, inclusive. The plaintiff purports to bring the action both derivatively on the 401(k) Plan’s behalf pursuant to ERISA §§ 409 and 502, and as a class action pursuant to Rule 23 of the Federal Rules of Civil Procedure. The plaintiff’s claims are based on allegations that the defendants breached their fiduciary duties owed to the 401(k) Plan and to the 401(k) Plan participants by allowing the investment of the 401(k) Plan’s assets in SandRidge stock when it was otherwise allegedly imprudent to do so based on the financial condition of the Company. On September 10, 2015, the Court consolidated this action with the Gernandt action. On September 14, 2015, Richard A. McWilliams, individually and on behalf of all others similarly situated, filed a putative class action complaint in the U.S. District Court for the Western District of Oklahoma against the Company and certain of its current and former officers and directors, among other defendants, on behalf of a putative class comprised of all persons, except the named defendants and their immediate family members, who were participants in, or beneficiaries of, the 401(k) Plan at any time between August 2, 2012, and the present, and whose 401(k) Plan accounts included investments in the Company’s common stock. The plaintiff purports to bring the action both derivatively on the 401(k) Plan’s behalf pursuant to ERISA §§ 409 and 502, and as a class action pursuant to Rule 23 of the Federal Rules of Civil Procedure. The plaintiff’s claims are based on allegations that the defendants breached their fiduciary duties owed to the 401(k) Plan and to the 401(k) Plan participants by allowing the investment of the 401(k) Plan’s assets in the Company’s common stock when it was otherwise allegedly imprudent to do so based on the financial condition of the Company and the fact the Company’s stock was artificially inflated because, among other things, the Company materially overstated the amount of oil being produced and the ratio of oil to natural gas in one of its core holdings. On September 24, 2015, the Court consolidated this action with Gernandt action. On November 24, 2015, the plaintiffs filed a Consolidated Class Action Complaint in the consolidated Gernandt action. The Company intends to defend this consolidated lawsuit vigorously. This lawsuit is in the early stages and, accordingly, an estimate of reasonably possible losses associated with this action, if any, cannot be made until the facts, circumstances and legal theories relating to the plaintiffs’ claims and the defendants’ defenses are fully disclosed and analyzed. The Company has not established any reserves relating to this action. On November 18, 2015, Mickey Peck, on behalf of himself and others similarly situated, filed a First Amended Collective Action Complaint in the United States District Court for the Western District of Oklahoma against SandRidge Energy, Inc., and SandRidge Operating Company for violations of the Fair Labor Standards Act. Plaintiff alleges that the Company improperly classified certain of its consultants as independent contractors rather than as employees and, therefore, improperly paid such consultants a day rate without paying any overtime compensation. On January 14, 2016, the Court entered an Order conditionally certifying the class and providing for notice. This lawsuit is in the early stages and, accordingly, an estimate of reasonably possible losses associated with this action, if any, cannot be made until the facts, circumstances and legal theories relating to the plaintiffs’ claims and the defendants’ defenses are fully disclosed and analyzed. The Company has not established any reserves relating to this action. On January 12, 2016, Lisa Griggs and April Marler, on behalf of themselves and all other similarly situated, filed a putative class action petition in the District Court of Logan County, Oklahoma, against SandRidge Exploration and Production, LLC, and certain other oil and gas exploration companies. In their petition, plaintiffs assert various tort claims based upon purported damage and loss resulting from earthquakes allegedly caused by the defendants’ operations of wastewater disposal wells. Plaintiffs seek to certify a class of “all residents of Oklahoma owning real property from 2011 through the time the Class is certified.” On February 16, 2016, the defendants filed a Notice of Removal of the lawsuit to the United States District Court for the Western District of Oklahoma. On April 8, 2016, the plaintiffs filed a Motion to Remand the action back to the District Court of Logan County, Oklahoma. This lawsuit is in the early stages and, accordingly, an estimate of reasonably possible losses associated with this action, if any, cannot be made until the facts, circumstances and legal theories relating to the plaintiffs’ claims and the defendants’ defenses are fully disclosed and analyzed. The Company has not established any reserves relating to this action. On February 12, 2016, Brenda Lene and Jon Darryn Lene filed a petition in the District Court of Logan County, Oklahoma, against SandRidge Exploration and Production, LLC, and certain other oil and gas exploration companies. In their petition, plaintiffs assert various tort claims based on their allegations that their home suffered damages due to earthquakes allegedly caused by the defendants’ operations of wastewater disposal wells. This lawsuit is in the early stages and, accordingly, an estimate of reasonably possible losses associated with this action, if any, cannot be made until the facts, circumstances and legal theories relating to the plaintiffs’ claims and the defendants’ defenses are fully disclosed and analyzed. The Company has not established any reserves relating to this action. On April 11, 2016, Public Justice, on behalf of the Sierra Club, filed a civil action against SandRidge Exploration and Production, LLC, among other defendants, in the United States District Court for the Western District of Oklahoma. Plaintiff seeks declaratory and injunctive relief under the citizen suit provision of the Resource Conservation and Recovery Act (“RCRA”) to enforce alleged violations of RCRA relating to earthquakes allegedly induced by the defendants’ injection and disposal into the ground of oil and gas production wastes. Plaintiff seeks an order preliminarily and permanently enjoining the defendants by ordering them to (i) substantially reduce the amounts of production wastes being injected into the ground, (ii) reinforce vulnerable structures that current forecasts show could be impacted by large magnitude earthquakes, and (iii) establishing an independent earthquake monitoring center. This lawsuit is in the early stages and, accordingly, an estimate of reasonably possible losses associated with this action, if any, cannot be made until the facts, circumstances and legal theories relating to the plaintiff’s claims and the defendants’ defenses are fully disclosed and analyzed. The Company has not established any reserves relating to this action. On March 3, 2016, Brian Thieme, on behalf of himself and all others similarly situated, filed a putative class action complaint in the United States District Court for the Western District of Oklahoma against SandRidge Energy, Inc. and the Company’s former CEO, Tom L. Ward, among other defendants. Plaintiff alleges that, commencing on or around December 27, 2007, and continuing until at least March 31, 2012, the defendants conspired to rig bids and depress the market for the purchases of oil and natural gas leasehold interests and properties containing producing oil and natural gas wells located in certain areas of Oklahoma, Texas, Colorado and Kansas, in violation of Sections 1 and 3 of the Sherman Antitrust Act. Plaintiff seeks to certify two separate and distinct classes of members. On March 10, 2016, Don Beadles, in Trust for the Alva Synagogue Church, on behalf of himself and all others similarly situated, filed a putative class action complaint in the United States District Court for the Western District of Oklahoma against SandRidge Energy, Inc. and the Company’s former CEO, Tom L. Ward, among other defendants. Plaintiff alleges that since as early as December 2007, and continuing until at least as late as March 2012 (the “Relevant Class Period”), the defendants conspired to rig bids and otherwise depress the amounts they paid to property owners for the acquisition of oil and gas leasehold interests and producing properties located in certain areas of Oklahoma, Texas, Colorado and Kansas, in violation of Sections 1 and 3 of the Sherman Antitrust Act. Plaintiff seeks to certify a class of “[a]ll persons and entities that, during the Relevant Class Period, provided or sold to one of more of the Defendants (a) oil and gas leasehold interests on their property and/or (b) the producing properties, in exchange for lease payments, including but not limited to lease bonuses.” On March 24, 2016, Janet L. Lowry, on behalf of herself and all others similarly situated, filed a putative class action complaint in the United States District Court for the Western District of Oklahoma against SandRidge Energy, Inc. and the Company’s former CEO, Tom L. Ward, among other defendants. Plaintiff alleges that, commencing on or around December 27, 2007, and continuing until at least March 31, 2012, the defendants conspired to rig bids and depress the price of royalty and bonus payments exchanged for purchases of oil and natural gas leasehold interests and interests in properties containing producing oil and natural gas wells located in certain areas of Oklahoma, Texas, Colorado and Kansas, in violation of Section 1 of the Sherman Antitrust Act. Plaintiff seeks to certify two separate and distinct classes of members. This lawsuit is in the early stages and, accordingly, an estimate of reasonably possible losses associated with this action, if any, cannot be made until the facts, circumstances and legal theories relating to the plaintiffs' claims and the defendants’ defenses are fully disclosed and analyzed. The Company has not established any reserves relating to this action. On April 15, 2016, the United States District Court for the Western District of Oklahoma consolidated the Thieme, Beadles, and Lowry cases under the caption “In re Anadarko Basin Oil and Gas Lease Antitrust Litigation,” together with eight additional subsequently filed cases, as well as with any other cases pending in the court, alleging similar violations under the Sherman Antitrust Act and the Oklahoma Antitrust Reform Act (the “Federal Antitrust Litigation”). The Federal Antitrust Litigation is in the early stages and, accordingly, an estimate of reasonably possible losses associated with this action, if any, cannot be made until

Equity

Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Equity	Equity Common Stock During the three-month period ended March 31, 2016 , the Company issued approximately 84.4 million shares of common stock upon the exercise of conversion options by holders of approximately $232.1 million in par value of the Convertible Senior Unsecured Notes. The Company recorded the issuance of common shares at fair value on the various dates the exchanges occurred. See Note 7 for additional discussion of the Convertible Senior Unsecured Notes transactions. Preferred Stock Dividends Dividends on the Company’s 8.5% and 7.0% convertible perpetual preferred stock may be paid in cash or with shares of the Company’s common stock at the Company’s election. In the first quarter of 2015, dividends of $11.3 million on the Company’s 8.5% convertible perpetual preferred stock were paid in cash. In the first quarter of 2016, prior to the February semi-annual dividend payment date, the Company announced the suspension of payment of the semi-annual dividend on its 8.5% convertible perpetual preferred stock. The Company suspended payment of the cumulative dividend on its 7.0% convertible perpetual preferred stock during the third quarter of 2015. At March 31, 2016 , the Company had dividends in arrears of $11.3 million and $10.5 million on its 8.5% and 7.0% convertible perpetual preferred stock, respectively. Paid and unpaid dividends included in the calculation of loss applicable to the Company’s common stockholders and the Company’s basic loss per share calculation for the three -month periods ended March 31, 2016 and 2015 are presented in the accompanying unaudited condensed consolidated statements of operations. See Note 13 for discussion of the Company’s loss per share calculation. Treasury Stock The Company makes required statutory tax payments on behalf of employees when their restricted stock awards vest and then withholds a number of vested shares of common stock having a value on the date of vesting equal to the tax obligation. The following table shows the number of shares withheld for taxes and the associated value of those shares for the three -month periods ended March 31, 2016 and 2015 . These shares were accounted for as treasury stock when withheld and then immediately retired. Three Months Ended March 31, 2016 2015 (In thousands) Number of shares withheld for taxes 853 719 Value of shares withheld for taxes $ 37 $ 1,218 Stockholder Receivable The Company is party to a settlement agreement relating to a third-party claim against its former CEO under Section 16(b) of the Securities Exchange Act of 1934, as amended. Based on the nature of the settlement as well as the former CEO’s position as an officer of the Company at the time of the settlement, the receivable is classified as a component of additional paid-in capital in the accompanying unaudited condensed consolidated balance sheets. The remaining amount receivable under the agreement as of March 31, 2016 and December 31, 2015 was $1.3 million and is due in October 2016. See Note 14 for discussion of the Company’s share-based compensation.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company estimates for each interim reporting period the effective tax rate expected for the full fiscal year and uses that estimated rate in providing for income taxes on a current year-to-date basis. The provision for income taxes consisted of the following components for the three -month periods ended March 31, 2016 and 2015 (in thousands): Three Months Ended March 31, 2016 2015 Current Federal $ — $ — State 4 40 Total provision 4 40 Less: income tax provision attributable to noncontrolling interest — 30 Total provision attributable to SandRidge Energy, Inc. $ 4 $ 10 Deferred income taxes are provided to reflect the future tax consequences of temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. The Company’s deferred tax assets have been reduced by a valuation allowance due to a determination that it is more likely than not that some or all of the deferred assets will not be realized based on the weight of all available evidence. The Company continues to closely monitor and weigh all available evidence, including both positive and negative, in making its determination whether to maintain a valuation allowance. As a result of the significant weight placed on the Company's cumulative negative earnings position, the Company continued to maintain the full valuation allowance against its net deferred tax asset at March 31, 2016 . Thus the Company’s effective tax rate and tax expense for the three -month period ended March 31, 2016 continues to be low as a result of the Company not recognizing an income tax benefit associated with its net loss from the same period. Internal Revenue Code (“IRC”) Section 382 addresses company ownership changes and specifically limits the utilization of certain deductions and other tax attributes on an annual basis following an ownership change. The Company experienced ownership changes within the meaning of IRC Section 382 during 2008 and 2010 that subjected certain of the Company’s tax attributes, including $929.4 million of federal net operating loss carryforwards, to the IRC Section 382 limitation. These limitations could result in all or a portion of the remaining $484.5 million limited net operating loss carryforwards expiring unused. None of these limitations resulted in a current federal tax liability at March 31, 2016 . At both March 31, 2016 and December 31, 2015 , the Company had a liability of approximately $0.1 million for unrecognized tax benefits. The Company does not expect a significant change in its gross unrecognized tax benefits balance within the next twelve months. The Company’s only taxing jurisdiction is the United States (federal and state). The Company’s tax years 2012 to present remain open for federal examination. Additionally, tax years 2005 through 2011 remain subject to examination for the purpose of determining the amount of remaining federal net operating loss and other carryforwards. The number of years open for state tax audits varies, depending on the state, but are generally from three to five years.

Loss per Share

Loss per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Loss per Share	Loss per Share The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted loss per share, for the three -month periods ended March 31, 2016 and 2015 : Net Loss Weighted Average Shares Loss Per Share (In thousands, except per share amounts) Three Months Ended March 31, 2016 Basic loss per share $ (324,107 ) 689,784 $ (0.47 ) Effect of dilutive securities Restricted stock and units(1) — — Convertible preferred stock(2) — — Convertible senior unsecured notes(3) — — Diluted loss per share $ (324,107 ) 689,784 $ (0.47 ) Three Months Ended March 31, 2015 Basic loss per share $ (1,045,834 ) 478,165 $ (2.19 ) Effect of dilutive securities Restricted stock and units(1) — — Convertible preferred stock(2) — — Diluted loss per share $ (1,045,834 ) 478,165 $ (2.19 ) ____________________ (1) No incremental shares of potentially dilutive restricted stock awards or units were included for the three -month periods ended March 31, 2016 or 2015 as their effect was antidilutive under the treasury stock method. (2) Potential common shares related to the Company’s outstanding 8.5% and 7.0% convertible perpetual preferred stock covering 67.6 million and 71.7 million shares for the three -month periods ended March 31, 2016 and 2015 , respectively, were excluded from the computation of loss per share because their effect would have been antidilutive under the if-converted method. (3) Potential common shares related to the Company’s outstanding 8.125% and 7.5% Convertible Senior Unsecured Notes covering 58.3 million shares for the three -month period ended March 31, 2016 were excluded from the computation of loss per share because their effect would have been antidilutive under the if-converted method. See Note 7 for discussion of common stock issued in exchange for Senior Unsecured Notes and issuance of the Convertible Senior Unsecured Notes.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation The Company issues share-based compensation awards including restricted common stock awards, restricted stock units, performance units and performance share units under the SandRidge Energy, Inc. 2009 Incentive Plan. Total share-based compensation expense is measured using the grant date fair value for equity-classified awards and using the fair value at period end for liability-classified awards. Restricted Common Stock Awards The Company’s restricted common stock awards generally vest over a four -year period, subject to certain conditions, and are valued based upon the market value of the Company’s common stock on the date of grant. The following table presents a summary of the Company’s unvested restricted stock awards. Number of Shares Weighted- Average Grant Date Fair Value (In thousands) Unvested restricted shares outstanding at December 31, 2015 5,626 $ 4.85 Granted — $ — Vested (2,279 ) $ 6.15 Forfeited / Canceled (107 ) $ 6.25 Unvested restricted shares outstanding at March 31, 2016 3,240 $ 3.89 As of March 31, 2016 , the Company’s unrecognized compensation cost related to unvested restricted stock awards was $10.0 million . Such cost is expected to be recognized over a weighted-average period of 2.0 years. The Company’s restricted stock awards are equity-classified awards. Allocation of Share-Based Compensation Equity compensation provided to employees directly involved in exploration and development activities is capitalized to the Company’s oil and natural gas properties. Equity compensation not capitalized is recognized in general and administrative expenses, production expenses, cost of sales and midstream and marketing expenses in the unaudited condensed consolidated statements of operations. For the three -month periods ended March 31, 2016 and 2015, the Company recognized share-based compensation expense of $7.4 million and $5.7 million , net of $0.6 million and $1.4 million capitalized, respectively. Share-based compensation expense for the three -month period ended March 31, 2016 , includes $5.3 million for the accelerated vesting of 1.3 million restricted common stock awards and an insignificant amount of expense for the accelerated vesting of 1.8 million unvested restricted stock units, which may be settled in cash or stock, related to the Company’s reduction in workforce. Additionally, the Company accelerated the vesting of approximately 1.3 million unvested restricted stock units, which were granted to the Company’s management and had an original vesting date of December 31, 2016. This resulted in an insignificant amount of stock compensation expense which was settled in cash. There was no significant activity related to the Company’s outstanding performance units and performance share units during the three-month period ended March 31, 2016 .

Business Segment Information

Business Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information During the three-month period ended March 31, 2016 , the Company had two reportable segments: exploration and production and midstream services. These segments represent the Company’s two main business units, each offering different products and services. The exploration and production segment is engaged in the exploration and production of oil and natural gas properties and includes the Company’s proportionate share of the activities of the Royalty Trusts. The midstream services segment coordinates the delivery of electricity to the Company’s exploration and production operations in the Mid-Continent. During the three-month period ended March 31, 2015, the Company operated in a third reportable segment, drilling and oilfield services; however, due to the discontinuance of the substantial majority of activity within the drilling and oilfield services business during the first quarter of 2016, this business no longer constitutes a reportable segment. The All Other columns in the tables below include items not related to the Company’s currently reportable segments, including drilling and oilfield services activity and the Company’s corporate operations. Management evaluates the performance of the Company’s business segments based on income (loss) from operations. Summarized financial information concerning the Company’s segments is shown in the following table (in thousands): Exploration and Production(1)(2) Midstream Services(3) All Other Consolidated Total Three Months Ended March 31, 2016 Revenues $ 84,375 $ 10,245 $ 4,189 $ 98,809 Inter-segment revenue — (5,958 ) (2,519 ) (8,477 ) Total revenues $ 84,375 $ 4,287 $ 1,670 $ 90,332 Loss from operations $ (232,207 ) $ (3,588 ) $ (37,760 ) $ (273,555 ) Interest expense, net — — (81,151 ) (81,151 ) Gain on extinguishment of debt — — 41,331 41,331 Other income expense, net 750 (495 ) (102 ) 153 Loss before income taxes $ (231,457 ) $ (4,083 ) $ (77,682 ) $ (313,222 ) Capital expenditures(4) $ 50,544 $ 1,230 $ 1,707 $ 53,481 Depreciation, depletion, amortization and accretion $ 33,934 $ 2,446 $ 4,369 $ 40,749 At March 31, 2016 Total assets $ 1,430,717 $ 205,382 $ 937,960 $ 2,574,059 Three Months Ended March 31, 2015 Revenues $ 195,743 $ 21,529 $ 25,596 $ 242,868 Inter-segment revenue (11 ) (12,765 ) (14,784 ) (27,560 ) Total revenues $ 195,732 $ 8,764 $ 10,812 $ 215,308 Loss from operations $ (1,054,158 ) $ (3,873 ) $ (30,425 ) $ (1,088,456 ) Interest expense, net (16 ) — (62,826 ) (62,842 ) Other (expense) income, net (454 ) 4 (86 ) (536 ) Loss before income taxes $ (1,054,628 ) $ (3,869 ) $ (93,337 ) $ (1,151,834 ) Capital expenditures(4) $ 302,062 $ 8,432 $ 9,697 $ 320,191 Depreciation, depletion, amortization and accretion $ 107,211 $ 2,679 $ 10,644 $ 120,534 At December 31, 2015 Total assets $ 1,959,975 $ 254,212 $ 707,840 $ 2,922,027 ____________________ (1) Loss from operations for the three -month period ended March 31, 2016 includes a full cost ceiling limitation impairment of $108.4 million , loss on settlement of contract of $89.1 million and the write off a $16.7 million joint interest receivable after determination that its collection was doubtful at March 31, 2016 . (2) Loss from operations for the three -month period ended March 31, 2015 includes a full cost ceiling limitation impairment of $1.1 billion . (3) Loss from operations for the three -month period ended March 31, 2016 includes a $1.7 million impairment of midstream assets. (4) On an accrual basis and exclusive of acquisitions.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information The Company provides condensed consolidating financial information for its subsidiaries that are guarantors of its registered debt. As of March 31, 2016 , the subsidiary guarantors, which are 100% owned by the Company, have jointly and severally guaranteed, on a full, unconditional and unsecured basis, the Company’s outstanding Senior Unsecured Notes. The subsidiary guarantees (i) rank equally in right of payment with all of the existing and future senior debt of the subsidiary guarantors; (ii) rank senior to all of the existing and future subordinated debt of the subsidiary guarantors; (iii) are effectively subordinated in right of payment to any existing or future secured obligations of the subsidiary guarantors to the extent of the value of the assets securing such obligations; (iv) are structurally subordinated to all debt and other obligations of the subsidiaries of the guarantors who are not themselves subsidiary guarantors; and (v) are only released under certain customary circumstances. The Company’s subsidiary guarantors guarantee payments of principal and interest under the Company’s registered notes. The following condensed consolidating financial information represents the financial information of SandRidge Energy, Inc., its wholly owned subsidiary guarantors and its non-guarantor subsidiaries, prepared on the equity basis of accounting. The non-guarantor subsidiaries, including the Company’s proportionate share of the Royalty Trusts, majority-owned subsidiaries and certain immaterial wholly owned subsidiaries, are included in the non-guarantors column in the tables below. The financial information may not necessarily be indicative of the financial position, results of operations or cash flows had the subsidiary guarantors operated as independent entities. Condensed Consolidating Balance Sheets March 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated (In thousands) ASSETS Current assets Cash and cash equivalents $ 669,978 $ 22,084 $ 1,980 $ — $ 694,042 Accounts receivable, net 2 71,410 1,294 68 72,774 Intercompany accounts receivable 1,340,776 1,280,481 5,888 (2,627,145 ) — Derivative contracts — 61,403 — — 61,403 Prepaid expenses — 10,421 6 — 10,427 Other current assets — 15,239 — — 15,239 Total current assets 2,010,756 1,461,038 9,168 (2,627,077 ) 853,885 Property, plant and equipment, net — 1,654,610 48,411 — 1,703,021 Investment in subsidiaries 2,774,926 33,055 — (2,807,981 ) — Other assets 3,012 20,043 — (5,902 ) 17,153 Total assets $ 4,788,694 $ 3,168,746 $ 57,579 $ (5,440,960 ) $ 2,574,059 LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY Current liabilities Current maturities of long-term debt $ 3,981,371 $ — $ — $ — $ 3,981,371 Accounts payable and accrued expenses 174,840 87,778 979 68 263,665 Intercompany accounts payable 1,299,686 1,296,354 31,105 (2,627,145 ) — Derivative contracts — 355 — — 355 Asset retirement obligations — 8,440 — — 8,440 Total current liabilities 5,455,897 1,392,927 32,084 (2,627,077 ) 4,253,831 Investment in subsidiaries 1,079,991 7,539 — (1,087,530 ) — Long-term debt 5,902 — — (5,902 ) — Asset retirement obligations — 62,279 — — 62,279 Other long-term obligations 81 11,066 — — 11,147 Total liabilities 6,541,871 1,473,811 32,084 (3,720,509 ) 4,327,257 Stockholders’ (deficit) equity SandRidge Energy, Inc. stockholders’ (deficit) equity (1,753,177 ) 1,694,935 25,495 (1,720,430 ) (1,753,177 ) Noncontrolling interest — — — (21 ) (21 ) Total stockholders’ (deficit) equity (1,753,177 ) 1,694,935 25,495 (1,720,451 ) (1,753,198 ) Total liabilities and stockholders’ (deficit) equity $ 4,788,694 $ 3,168,746 $ 57,579 $ (5,440,960 ) $ 2,574,059 December 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated (In thousands) ASSETS Current assets Cash and cash equivalents $ 426,917 $ 847 $ 7,824 $ — $ 435,588 Accounts receivable, net — 122,606 4,781 — 127,387 Intercompany accounts receivable 1,226,994 1,305,573 30,683 (2,563,250 ) — Derivative contracts — 84,349 — — 84,349 Prepaid expenses — 6,826 7 — 6,833 Other current assets — 19,931 — — 19,931 Total current assets 1,653,911 1,540,132 43,295 (2,563,250 ) 674,088 Property, plant and equipment, net — 2,124,532 110,170 — 2,234,702 Investment in subsidiaries 2,749,514 8,531 — (2,758,045 ) — Other assets 3,131 16,008 — (5,902 ) 13,237 Total assets $ 4,406,556 $ 3,689,203 $ 153,465 $ (5,327,197 ) $ 2,922,027 LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY Current liabilities Accounts payable and accrued expenses $ 160,122 $ 265,767 $ 2,528 $ — $ 428,417 Intercompany accounts payable 1,337,688 1,192,569 32,993 (2,563,250 ) — Derivative contracts — 573 — — 573 Asset retirement obligations — 8,399 — — 8,399 Total current liabilities 1,497,810 1,467,308 35,521 (2,563,250 ) 437,389 Investment in subsidiaries 1,038,303 400,771 — (1,439,074 ) — Long-term debt 3,568,280 — — (5,902 ) 3,562,378 Asset retirement obligations — 95,179 — — 95,179 Other long-term obligations 80 14,734 — — 14,814 Total liabilities 6,104,473 1,977,992 35,521 (4,008,226 ) 4,109,760 Stockholders’ (deficit) equity SandRidge Energy, Inc. stockholders’ (deficit) equity (1,697,917 ) 1,711,211 117,944 (1,829,155 ) (1,697,917 ) Noncontrolling interest — — — 510,184 510,184 Total stockholders’ (deficit) equity (1,697,917 ) 1,711,211 117,944 (1,318,971 ) (1,187,733 ) Total liabilities and stockholders’ (deficit) equity $ 4,406,556 $ 3,689,203 $ 153,465 $ (5,327,197 ) $ 2,922,027 Condensed Consolidating Statements of Operations Parent Guarantors Non-Guarantors Eliminations Consolidated (In thousands) Three Months Ended March 31, 2016 Total revenues $ — $ 86,665 $ 3,667 $ — $ 90,332 Expenses Direct operating expenses — 53,461 881 — 54,342 General and administrative 50 73,788 440 — 74,278 Depreciation, depletion, amortization and accretion — 39,745 1,004 — 40,749 Impairment — 104,717 5,397 — 110,114 Gain on derivative contracts — (2,808 ) — — (2,808 ) Loss on settlement of contract — 89,092 — — 89,092 Gain on sale of assets — (1,880 ) — — (1,880 ) Total expenses 50 356,115 7,722 — 363,887 Loss from operations (50 ) (269,450 ) (4,055 ) — (273,555 ) Equity earnings from subsidiaries (273,358 ) (4,058 ) — 277,416 — Interest expense (81,151 ) — — — (81,151 ) Gain on extinguishment of debt 41,331 — — — 41,331 Other income, net — 150 3 — 153 Loss before income taxes (313,228 ) (273,358 ) (4,052 ) 277,416 (313,222 ) Income tax (benefit) expense (2 ) — 6 — 4 Net loss $ (313,226 ) $ (273,358 ) $ (4,058 ) $ 277,416 $ (313,226 ) Parent Guarantors Non-Guarantors Eliminations Consolidated (In thousands) Three Months Ended March 31, 2015 Total revenues $ — $ 192,520 $ 22,796 $ (8 ) $ 215,308 Expenses Direct operating expenses — 112,117 2,837 (8 ) 114,946 General and administrative 56 35,219 874 — 36,149 Depreciation, depletion, amortization and accretion — 109,853 10,681 — 120,534 Impairment — 903,235 180,631 — 1,083,866 Gain on derivative contracts — (44,109 ) (5,718 ) — (49,827 ) Gain on sale of assets — (1,900 ) (4 ) — (1,904 ) Total expenses 56 1,114,415 189,301 (8 ) 1,303,764 Loss from operations (56 ) (921,895 ) (166,505 ) — (1,088,456 ) Equity earnings from subsidiaries (972,071 ) (49,621 ) — 1,021,692 — Interest expense (62,826 ) (16 ) — — (62,842 ) Other (expense) income, net — (539 ) 3 — (536 ) Loss before income taxes (1,034,953 ) (972,071 ) (166,502 ) 1,021,692 (1,151,834 ) Income tax expense — — 40 — 40 Net loss (1,034,953 ) (972,071 ) (166,542 ) 1,021,692 (1,151,874 ) Less: net loss attributable to noncontrolling interest — — — (116,921 ) (116,921 ) Net loss attributable to SandRidge Energy, Inc. $ (1,034,953 ) $ (972,071 ) $ (166,542 ) $ 1,138,613 $ (1,034,953 ) Condensed Consolidating Statements of Cash Flows Parent Guarantors Non-Guarantors Eliminations Consolidated (In thousands) Three Months Ended March 31, 2016 Net cash used in operating activities $ (131,724 ) $ (28,388 ) $ (2,532 ) $ — $ (162,644 ) Cash flows from investing activities Capital expenditures for property, plant, and equipment — (70,546 ) — — (70,546 ) Other — 6,561 — (3,484 ) 3,077 Net cash used in investing activities — (63,985 ) — (3,484 ) (67,469 ) Cash flows from financing activities Proceeds from borrowings 488,900 — — — 488,900 Intercompany (advances) borrowings, net (113,782 ) 113,610 172 — — Other (333 ) — (3,484 ) 3,484 (333 ) Net cash provided by (used in) financing activities 374,785 113,610 (3,312 ) 3,484 488,567 Net increase (decrease) in cash and cash equivalents 243,061 21,237 (5,844 ) — 258,454 Cash and cash equivalents at beginning of year 426,917 847 7,824 — 435,588 Cash and cash equivalents at end of period $ 669,978 $ 22,084 $ 1,980 $ — $ 694,042 Parent Guarantors(1) Non-Guarantors Eliminations(1) Consolidated (In thousands) Three Months Ended March 31, 2015 Net cash (used in) provided by operating activities $ (92,504 ) $ 133,837 $ 25,968 $ 22,794 $ 90,095 Cash flows from investing activities Capital expenditures for property, plant, and equipment — (377,052 ) — — (377,052 ) Other — 5,279 4 (4,267 ) 1,016 Net cash (used in) provided by investing activities — (371,773 ) 4 (4,267 ) (376,036 ) Cash flows from financing activities Proceeds from borrowings 420,000 — — — 420,000 Repayments of borrowings (245,000 ) — — — (245,000 ) Intercompany (advances) borrowings, net (238,183 ) 238,337 (154 ) — — Other (14,775 ) — (25,189 ) (18,527 ) (58,491 ) Net cash (used in) provided by financing activities (77,958 ) 238,337 (25,343 ) (18,527 ) 116,509 Net (decrease) increase in cash and cash equivalents (170,462 ) 401 629 — (169,432 ) Cash and cash equivalents at beginning of year 170,468 1,398 9,387 — 181,253 Cash and cash equivalents at end of period $ 6 $ 1,799 $ 10,016 $ — $ 11,821 ____________________ (1) Other investing activities for the Guarantor has increased to correctly exclude $43.7 million in noncontrolling interest distributions, with a corresponding decrease for Eliminations for this same line item. In addition, other financing activities for the Guarantor, has decreased to correctly exclude $43.7 million of noncontrolling interest distributions, with a corresponding increase for Eliminations for the same line item. The corrections did not result in any changes to consolidated net cash (used in) provided by investing activities or net cash (used in) provided by financing activities.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Voluntary Reorganization Under Chapter 11 . On May 16, 2016, the Debtors filed the Bankruptcy Petitions for reorganization under Chapter 11 of the Bankruptcy Code with the Bankruptcy Court. The Debtors have filed a motion with the Bankruptcy Court seeking joint administration of their Chapter 11 Cases under the caption In re: SandRidge Energy Inc., et al. , (the “Chapter 11 Cases”). Prior to the filing of the Bankruptcy Petitions, on May 11, 2016, the Debtors entered into the Restructuring Support Agreement with the holders (collectively, the “Consenting Creditors”) of, in the aggregate, (a) approximately 98% by principal amount of claims under the First Lien Credit Agreement, (b) approximately 79% by principal amount of claims under the Company’s Senior Secured Notes, and (c) approximately 55% by principal amount of claims under the Company’s Unsecured Notes. The Restructuring Support Agreement sets forth, subject to certain conditions, the commitments and obligations of the Debtors and the Consenting Creditors to support a comprehensive restructuring of the Company’s long-term debt, convertible perpetual preferred stock and common stock (the “Restructuring Transactions”). The Restructuring Transactions will be effectuated through the Plan to be filed in the Chapter 11 Cases. The Company expects its oil and gas operations to continue in the ordinary course throughout the Chapter 11 Cases. Upon the signing of the Restructuring Support Agreement, the Company repaid approximately $40.0 million of borrowings under the senior credit facility. In exchange, the requisite percentage of lenders under the First Lien Credit Agreement provided a waiver through May 31, 2016 with respect to certain specified defaults and events of defaults under the First Lien Credit Agreement. See Note 2 for further discussion of the events of default under the senior credit facility. The Restructuring Support Agreement provides for the following treatment of the Company’s long-term debt, convertible perpetual preferred stock and common stock under the Plan on its effective date (the “Effective Date”): • First Lien Credit Agreement Claims. Claims under the First Lien Credit Agreement will receive their proportionate share of (a) $35.0 million in cash and (b) participation in a new $425.0 million reserve-based revolving credit facility (the “New First Lien Exit Facility”). • Senior Secured Note Claims. The Senior Secured Notes will receive their proportionate share of (a) $300.0 million of the new mandatorily convertible debt (the “New Mandatory Convertible Debt”), on terms described further below, and (b) 85% of the post-reorganization new common stock in the reorganized Company (the “New Common Stock”), as fully diluted by the New Mandatory Convertible Debt measured through the conversion date, subject to dilution by (i) new warrants (the “Warrants”), (ii) a rights offering (the “Rights Offering”), and (iii) a customary employee incentive plan (the “Employee Incentive Plan”). Holders of Senior Secured Notes may also be entitled to participate in the Rights Offering under specified circumstances. • General Unsecured Claims. The Company’s general unsecured claims, including the Unsecured Notes, will receive their proportionate share of (a) $10.0 million in cash, (b) 15% of the New Common Stock, as fully diluted by the New Mandatory Convertible Debt measured through the conversion date, subject to dilution by the Employee Incentive Plan, the Rights Offering, and the Warrants, (c) the Warrants, and (d) the cash proceeds of a $35.0 million non-recourse note secured by mortgages on certain real property (the “New Building Note”). Holders of general unsecured claims, including the Unsecured Notes, may also be entitled to participate in the Rights Offering under specified circumstances. • Preferred and Common Stock. The Company’s existing 7.0% and 8.5% convertible perpetual preferred stock and common stock will be canceled and released under the Plan without receiving any recovery on account thereof. The Restructuring Support Agreement provides for the following new debt and other instruments: • New First Lien Exit Facility. The New First Lien Exit Facility will have an initial borrowing base of $425.0 million with no borrowing base redeterminations to occur until October 2018 and semiannual borrowing base redeterminations thereafter. The New First Lien Exit Facility will mature on the earlier of March 31, 2020, or 40 months from the Effective Date, with interest payable quarterly at LIBOR plus 4.75% per annum, subject to a 1.00% LIBOR floor. The New First Lien Exit Facility will be secured by (i) first-priority mortgages on at least 95% of the present value of the proved developed producing reserves and 95% of the present value of all proved reserves included in the most recently delivered reserve report, (ii) a first-priority perfected pledge of capital stock of each credit party and their respective wholly owned subsidiaries and (iii) a first-priority security interest in the cash, cash equivalents, deposit, securities and other similar accounts, and a first-priority perfected security interest in substantially all other tangible (other than the Company’s headquarters in Oklahoma City) and intangible assets of the credit parties (including but not limited to as-extracted collateral, accounts receivable, inventory, equipment, general intangibles, investment property, intellectual property, real property and the proceeds of the foregoing). The New First Lien Exit Facility is subject to a variety of other terms and conditions including conditions precedent to funding, financial covenants, and various other covenants and representations and warranties. • New Mandatory Convertible Debt. The New Mandatory Convertible Debt will have a principal amount of $300.0 million with interest payable in-kind semiannually at 15% per annum. The New Mandatory Convertible Debt will mandatorily convert to at least 26.1% of the New Common Stock measured as of the Effective Date and (compounded semiannually at 15% per annum) no later than four years after the Effective Date or upon the occurrence of certain specified conversion events. The New Mandatory Convertible Debt is subject to being fully or partially secured by springing liens in the same collateral as the New First Lien Exit Facility only upon the occurrence of certain specified litigation events expected to result in a material adverse effect on the business of the reorganized Company. • Warrants . The Warrants to purchase up to 12.5% of the New Common Stock will be exercisable at any time, in whole or in part, until their expiration date for a per share price based upon a $1.625 billion aggregate value of the New Common Stock at the trailing 30 -day volume-weighted average price. The expiration date for the Warrants will be six years from the Effective Date. • New Building Note. The New Building Note will have a principal amount of $35.0 million and be secured by first priority mortgages on the Company’s headquarters facility and certain other non-oil and gas real property. Interest will be payable on the New Building Note at 6% per annum for the first year following the Effective Date, 8% per annum for the second year following the Effective Date, and 10% thereafter through maturity. Interest will be payable in kind from the Effective Date through the earlier of September 30, 2020, 46 months from the Effective Date or 90 days after the refinancing or repayment of the New First Lien Exit Facility and thereafter in cash. The New Building Note will mature five years after the Effective Date. Under the Restructuring Support Agreement, certain holders of the Unsecured Notes have committed to purchase the New Building Note for $20.0 million in cash on the Effective Date. • Rights Offering. The Restructuring Support Agreement entitles the Debtors to implement a Rights Offering for up to $150.0 million of New Common Stock at a valuation of the lesser of (a) $1.215 billion or (b) 90% of the equity value under the Plan. The Consenting Creditors are exclusively entitled to purchase the Rights Offering equity until the earlier of 30 days following approval of a disclosure statement by the Bankruptcy Court, 15 days before the date of the confirmation hearing set forth in the disclosure statement order or 90 days after the Chapter 11 filing. The Restructuring Support Agreement contemplates the following additional terms, among others: • Consensual Cash Collateral Use. The Company intends to fund ongoing operations and other cash needs during the Chapter 11 Cases with cash on hand and cash from operations. Under the Restructuring Support Agreement, the Consenting Creditors have consented to the use of cash collateral during the Chapter 11 Cases through the Effective Date, subject to certain terms, conditions, and termination events. • Releases. The Plan will provide for releases of specified claims held by the Debtors, the Consenting Creditors, and certain other specified parties against one another and for customary exculpations and injunctions. • Employee Incentive Plan. The Employee Incentive Plan contemplates the issuance of up to 10% of pro forma ownership interests in the reorganized Company to officers and/or other employees of the reorganized Company. The Employee Incentive Plan will be subject to approval of the board of directors of the reorganized Company. The Restructuring Support Agreement commits each of the Debtors to, among other things, and subject to certain conditions: (a) support and take all reasonably necessary and appropriate actions to obtain approval by the Bankruptcy Court of the Plan and to effectuate the Restructuring Transactions, (b) take no action that is inconsistent or is likely to interfere with the Restructuring Transactions, and (c) comply with certain operating covenants. The Restructuring Support Agreement may be terminated upon the occurrence of certain events, including the failure of general unsecured claims to be below specified thresholds, the failure to meet certain milestones related to cash collateral and the Plan, and upon certain breaches by the Debtors and the Consenting Creditors under the Restructuring Support Agreement. The Restructuring Support Agreement is subject to termination if the Effective Date has not occurred within 225 days of the bankruptcy filing. There can be no assurance that the Plan will be consummated. Subject to certain exceptions, under the Bankruptcy Code, the filing of the Bankruptcy Petitions automatically enjoined, or stayed, the continuation of most judicial or administrative proceedings or filing of other actions against the Debtors or their property to recover, collect or secure a claim arising prior to the date of the Bankruptcy Petitions. Accordingly, although the filing of the Bankruptcy Petitions triggered defaults on the Debtors’ debt obligations, creditors are stayed from taking any actions against the Debtors as a result of such defaults, subject to certain limited exceptions permitted by the Bankruptcy Code. Absent an order of the Bankruptcy Court, substantially all of the Debtors’ pre-petition liabilities are subject to settlement under the Bankruptcy Code. For the duration of the Company’s Chapter 11 Cases, the Company’s operations and ability to develop and execute its business plan are subject to the risks and uncertainties associated with the Chapter 11 process as described in Item 1A. “Risk Factors.” As a result of these risks and uncertainties, the number of the Company’s shares and shareholders, assets, liabilities, officers and/or directors could be significantly different following the outcome of the Chapter 11 Cases, and the description of the Company’s operations, properties and capital plans included in this quarterly report may not accurately reflect its operations, properties and capital plans following the Chapter 11 process. In particular, subject to certain exceptions, under the Bankruptcy Code, the Debtors may assume, assign or reject certain executory contracts and unexpired leases subject to the approval of the Bankruptcy Court and certain other conditions. Generally, the rejection of an executory contract or unexpired lease is treated as a pre-petition breach of such executory contract or unexpired lease and, subject to certain exceptions, relieves the Debtors of performing their future obligations under such executory contract or unexpired lease but entitles the contract counterparty or lessor to a pre-petition general unsecured claim for damages caused by such deemed breach. Counterparties to such rejected contracts or leases may assert unsecured claims in the Bankruptcy Court against the applicable Debtors’ estate for such damages. Generally, the assumption of an executory contract or unexpired lease requires the Debtors to cure existing monetary defaults under such executory contract or unexpired lease and provide adequate assurance of future performance. Accordingly, any description of an executory contract or unexpired lease with the Debtor in this quarterly report, including where applicable a quantification of the Company’s obligations under any such executory contract or unexpired lease with the Debtor is qualified by any overriding rejection rights the Company has under the Bankruptcy Code. Further, nothing herein is or shall be deemed an admission with respect to any claim amounts or calculations arising from the rejection of any executory contract or unexpired lease and the Debtors expressly preserve all of their rights with respect thereto.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business. SandRidge Energy, Inc. is an energy company with a principal focus on exploration and production activities in the Mid-Continent and Rockies regions of the United States. The Company also operates an electrical transmission system.
Principles of Consolidation	Principles of Consolidation. The consolidated financial statements include the accounts of the Company and its wholly owned or majority owned subsidiaries. During the three -month period ended March 31, 2015 , the Company fully consolidated the activities of the Royalty Trusts as variable interest entities (“VIEs”) for which the Company was the primary beneficiary. Activities of the Royalty Trusts attributable to third party ownership were presented as noncontrolling interest and included as a component of equity in the condensed consolidated balance sheet as of December 31, 2015. As discussed further below, during the three -month period ended March 31, 2016 , the Company proportionately consolidated the activities of the Royalty Trusts. All significant intercompany accounts and transactions have been eliminated in consolidation.
Interim Financial Statements	Interim Financial Statements. The accompanying unaudited condensed consolidated financial statements as of December 31, 2015 have been derived from the audited financial statements contained in the Company’s 2015 Form 10-K. The unaudited interim condensed consolidated financial statements have been prepared in accordance with the accounting policies stated in the audited consolidated financial statements contained in the 2015 Form 10-K. Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted, although the Company believes that the disclosures contained herein are adequate to make the information presented not misleading. In the opinion of management, the accompanying financial statements include all adjustments, which consist of normal recurring adjustments, necessary to state fairly the information in the Company’s accompanying unaudited condensed consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the 2015 Form 10-K.
Reclassifications	Reclassifications. Certain reclassifications have been made to the prior period financial statements to conform to the current period presentation. These reclassifications have no effect on the Company’s previously reported results of operations.
Use of Estimates	Use of Estimates. The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of assumptions, judgments and estimates include: oil, natural gas and natural gas liquids (“NGL”) reserves; impairment tests of long-lived assets; depreciation, depletion and amortization; asset retirement obligations; determinations of significant alterations to the full cost pool and related estimates of fair value used to allocate the full cost pool net book value to divested properties, as necessary; income taxes; valuation of derivative instruments; contingencies; and accrued revenue and related receivables. Although management believes these estimates are reasonable, actual results could differ significantly.
Recent Accounting Pronouncements	Recent Accounting Pronouncements. In February 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2015-02, “Amendments to the Consolidation Analysis,” which makes changes to both the variable interest model and the voting model, affecting all reporting entities involved with limited partnerships or similar entities, particularly industries such as the oil and gas, transportation and real estate sectors. The guidance simplifies and improves current guidance by placing more emphasis on risk of loss when determining a controlling financial interest and reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a VIE. The requirements of the guidance were effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period, with early adoption permitted. The Company adopted this guidance on January 1, 2016, which resulted in the determination that the Royalty Trusts no longer qualify as VIEs. As a result, for the three-month period ended March 31, 2016, the Company proportionately consolidated the activities of the Royalty Trusts. Under the proportionate consolidation method, the Company accounts for only its share of each Royalty Trust’s asset, liabilities, revenues and expenses within the appropriate classifications in the accompanying unaudited condensed consolidated financial statements. The Company adopted the provisions of ASU 2015-02 on a modified retrospective approach by recording a cumulative-effect adjustment as of January 1, 2016 that resulted in decreases of approximately $243.4 million to total assets and approximately $510.2 million to noncontrolling interest and increases of approximately $9.7 million to accounts payable and approximately $257.1 million to retained earnings. In April 2015, the FASB issued ASU 2015-03, "Simplifying the Presentation of Debt Issuance Costs," which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability, consistent with the presentation of a debt discount. The guidance is effective on a retrospective basis for annual periods beginning after December 15, 2015, including interim periods within that reporting period, with early adoption permitted. The guidance was adopted on January 1, 2016, and resulted in a decrease of approximately $69.1 million to other assets and current maturities of long-term debt in the accompanying condensed consolidated balance sheet for the year ended December 31, 2015, with no impact to the accompanying condensed consolidated statements of operations. In August 2015, the FASB issued ASU 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements,” which excludes line-of-credit debt issuance costs from the scope of ASU 2015-03. The guidance was adopted on January 1, 2016 in conjunction with the adoption of ASU 2015-03 by making an accounting policy election to present line-of-credit arrangement debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit. The adoption of this policy resulted in no impact to the consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Certain of the provisions also amend or supersede existing guidance applicable to the recognition of a gain or loss on transfers of nonfinancial assets that are not an output of an entity’s ordinary activities, including sales of property, plant and equipment and real estate. In August, 2015, the FASB issued ASU 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date," which defers the effective date of ASU 2014-09 to annual periods beginning after December 15, 2017, and interim periods within that reporting period. Early adoption is permitted, and either a full retrospective or modified approach may be used for adoption. The Company is currently evaluating the effect, if any, that the updated standard will have on its consolidated financial statements and related disclosures. In August 2014, the FASB issued ASU 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if “conditions or events raise substantial doubt about the entity’s ability to continue as a going concern.” The guidance is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company evaluated the effect of the guidance and has determined that it will have no impact on its related disclosures. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842),” which requires companies to recognize the assets and liabilities for the rights and obligations created by long-term leases of assets on the balance sheet. The guidance requires adoption by application of a modified retrospective transition approach for existing long-term leases and is effective for fiscal years beginning after December 15, 2018, including interim periods within those years. The Company is currently evaluating the effect that the guidance will have on its consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-06, “Contingent Put and Call Options in Debt Instruments” which clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts, which is one of the criteria for bifurcating an embedded derivative. The amendments eliminate diversity in practice in assessing embedded contingent call (put) options in debt instruments. The guidance requires adoption by application of a modified retrospective approach to existing and future debt instruments effective for fiscal years after December 15, 2016, including interim periods within those years. Early adoption is permitted. The Company is currently evaluating the effect that the guidance will have on its consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, “Improvements to Share-Based Payment Accounting” which was part of the FASB simplification initiative and involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The guidance requires adoption by various application methods. All amendments must be adopted in the same period. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those years. Early adoption is permitted. The Company is currently evaluating the effect that the guidance will have on its consolidated financial statements and related disclosures.
Fair Value Transfer	The Company recognizes transfers between fair value hierarchy levels as of the end of the reporting period in which the event or change in circumstances causing the transfer occurred.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Significant Unobservable Inputs - Derivative Contracts	The significant unobservable inputs and the range and weighted average of these inputs used in the fair value measurements of the Company’s natural gas basis swaps at March 31, 2016 and December 31, 2015 are included in the table below. Unobservable Input Range Weighted Average Fair Value (Price per Mcf) (In thousands) March 31, 2016 Natural gas basis differential forward curve $ (0.12 ) – $ (0.30 ) $ (0.24 ) $ (1,162 ) December 31, 2015 Natural gas basis differential forward curve $ (0.06 ) – $ (0.28 ) $ (0.22 ) $ (1,748 )
Significant Unobservable Inputs - Liabilities	The significant unobservable inputs and range and weighted average of these inputs used in the fair value measurement of the conversion options at March 31, 2016 and December 31, 2015 are included in the table below. Unobservable Input Range Weighted Average Fair Value (In thousands) March 31, 2016 Debt conversion feature hazard rate 104.9 % – 114.2 % 109.9 % $ 7,281 December 31, 2015 Debt conversion feature hazard rate 114.0 % – 135.2 % 119.2 % $ 29,355
Assets and Liabilities Measured on Recurring Basis	The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis by the fair value hierarchy (in thousands): March 31, 2016 Fair Value Measurements Netting(1) Assets/Liabilities at Fair Value Level 1 Level 2 Level 3 Assets Commodity derivative contracts $ — $ 62,210 $ — $ (807 ) $ 61,403 Investments 9,049 — — — 9,049 $ 9,049 $ 62,210 $ — $ (807 ) $ 70,452 Liabilities Commodity derivative contracts $ — $ — $ 1,162 $ (807 ) $ 355 Debt holder conversion feature — — 7,281 — 7,281 Mandatory prepayment feature - PGC Senior Secured Notes — 2,496 — — 2,496 $ — $ 2,496 $ 8,443 $ (807 ) $ 10,132 December 31, 2015 Fair Value Measurements Netting(1) Assets/Liabilities at Fair Value Level 1 Level 2 Level 3 Assets Commodity derivative contracts $ — $ 85,524 $ — $ (1,175 ) $ 84,349 Investments 10,106 — — — 10,106 $ 10,106 $ 85,524 $ — $ (1,175 ) $ 94,455 Liabilities Commodity derivative contracts $ — $ — $ 1,748 $ (1,175 ) $ 573 Debt holder conversion feature — — 29,355 — 29,355 Mandatory prepayment feature - PGC Senior Secured Notes — 2,941 — — 2,941 $ — $ 2,941 $ 31,103 $ (1,175 ) $ 32,869 ____________________ (1) Represents the effect of netting assets and liabilities for counterparties with which the right of offset exists.
Fair Value, Reconciliation of Level 3 Fair Value Measurements for Commodity Derivatives	The table below sets forth a reconciliation of the Company’s Level 3 fair value measurements for commodity derivative contracts during the three -month periods ended March 31, 2016 and 2015 (in thousands): Three Months Ended March 31, 2016 2015 Beginning balance $ (1,748 ) $ 350 Purchases — 347 Loss on commodity derivative contracts 586 635 Ending balance $ (1,162 ) $ 1,332
Fair Value, Reconciliation of Level 3 Fair Value Measurements - Liabilities	The table below sets forth a reconciliation of the Company’s Level 3 fair value measurements for debt holder conversion features during the three -month period ended March 31, 2016 (in thousands): Beginning balance $ 29,355 Gain on derivative holder conversion feature (880 ) Conversions (21,194 ) Ending balance $ 7,281 The table below sets forth a reconciliation of the Company’s Level 3 fair value measurements for the guarantee during the three -month period ended March 31, 2015 (in thousands): Beginning balance $ 5,104 Gain on guarantee (313 ) Ending balance $ 4,791
Senior Notes Carrying Amount and Fair Value Table	The estimated fair values and carrying values of the Company’s senior notes at March 31, 2016 and December 31, 2015 were as follows (in thousands): March 31, 2016 December 31, 2015 Fair Value Carrying Value Fair Value Carrying Value 8.75% Senior Secured Notes due 2020 $ 332,930 $ 1,267,924 $ 403,098 $ 1,265,814 Senior Unsecured Notes 8.75% Senior Notes due 2020 $ 24,769 $ 389,645 $ 39,740 $ 389,232 7.5% Senior Notes due 2021 $ 43,386 $ 751,416 $ 79,812 $ 751,087 8.125% Senior Notes due 2022 $ 31,610 $ 519,026 $ 57,749 $ 518,693 7.5% Senior Notes due 2023 $ 27,129 $ 535,191 $ 58,799 $ 534,869 Convertible Senior Unsecured Notes 8.125% Convertible Senior Notes due 2022 $ 103 $ 14,692 $ 44,199 $ 78,290 7.5% Convertible Senior Notes due 2023 $ 118 $ 14,577 $ 15,125 $ 24,393

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consists of the following (in thousands): March 31, December 31, Oil and natural gas properties Proved(1) $ 11,961,413 $ 12,529,681 Unproved 350,646 363,149 Total oil and natural gas properties 12,312,059 12,892,830 Less accumulated depreciation, depletion and impairment (11,035,575 ) (11,149,888 ) Net oil and natural gas properties capitalized costs 1,276,484 1,742,942 Land 5,450 14,260 Non-oil and natural gas equipment(2) 310,122 373,687 Buildings and structures(3) 229,352 227,673 Total 544,924 615,620 Less accumulated depreciation and amortization (118,387 ) (123,860 ) Other property, plant and equipment, net 426,537 491,760 Total property, plant and equipment, net $ 1,703,021 $ 2,234,702 ____________________ (1) Includes cumulative capitalized interest of approximately $50.3 million and $48.9 million at March 31, 2016 and December 31, 2015 , respectively. (2) Includes cumulative capitalized interest of approximately $4.3 million at both March 31, 2016 and December 31, 2015 . (3) Includes cumulative capitalized interest of approximately $20.4 million at both March 31, 2016 and December 31, 2015

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other assets consist of the following (in thousands): March 31, December 31, Investments $ 9,049 $ 10,106 Senior credit facility debt issuance costs, net of amortization 3,012 3,131 Utility deposits 4,796 — Other 296 — Total other assets $ 17,153 $ 13,237

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Debt, net of unamortized discounts, premiums, and deferred costs of $157.9 million and $342.6 million , and including the fair value of debt derivatives of $9.8 million and $32.3 million , at March 31, 2016 and December 31, 2015 , respectively, consists of the following (in thousands): March 31, December 31, Senior credit facility $ 488,900 $ — 8.75% Senior Secured Notes due 2020 1,267,924 1,265,814 Senior Unsecured Notes 8.75% Senior Notes due 2020 389,645 389,232 7.5% Senior Notes due 2021 751,416 751,087 8.125% Senior Notes due 2022 519,026 518,693 7.5% Senior Notes due 2023 535,191 534,869 Convertible Senior Unsecured Notes 8.125% Convertible Senior Notes due 2022 14,692 78,290 7.5% Convertible Senior Notes due 2023 14,577 24,393 Total debt 3,981,371 3,562,378 Less: current maturities of long-term debt(1) 3,981,371 — Long-term debt $ — $ 3,562,378 ____________________ (1) Due to existing and anticipated covenant violations, the Company’s long-term debt was classified as current at March 31, 2016 . See Note 2 for further discussion of such covenant violations.

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Offsetting Assets and Liabilities	The following tables summarize (i) the Company's commodity derivative contracts on a gross basis, (ii) the effects of netting assets and liabilities for which the right of offset exists based on master netting arrangements and (iii) for the Company’s net derivative liability positions, the applicable portion of shared collateral under the senior credit facility (in thousands): March 31, 2016 Gross Amounts Gross Amounts Offset Amounts Net of Offset Financial Collateral Net Amount Assets Derivative contracts - current $ 62,210 $ (807 ) $ 61,403 $ — $ 61,403 Derivative contracts - noncurrent — — — — — Total $ 62,210 $ (807 ) $ 61,403 $ — $ 61,403 Liabilities Derivative contracts - current $ 1,162 $ (807 ) $ 355 $ (355 ) $ — Derivative contracts - noncurrent — — — — — Total $ 1,162 $ (807 ) $ 355 $ (355 ) $ — December 31, 2015 Gross Amounts Gross Amounts Offset Amounts Net of Offset Financial Collateral Net Amount Assets Derivative contracts - current $ 85,524 $ (1,175 ) $ 84,349 $ — $ 84,349 Derivative contracts - noncurrent — — — — — Total $ 85,524 $ (1,175 ) $ 84,349 $ — $ 84,349 Liabilities Derivative contracts - current $ 1,748 $ (1,175 ) $ 573 $ (573 ) $ — Derivative contracts - noncurrent — — — — — Total $ 1,748 $ (1,175 ) $ 573 $ (573 ) $ —
Open Oil and Natural Gas Commodity Derivative Contracts	At March 31, 2016 , the Company’s open commodity derivative contracts consisted of the following: Oil Price Swaps Notional (MBbls) Weighted Average Fixed Price April 2016 - December 2016 1,100 $ 88.36 Natural Gas Basis Swaps Notional (MMcf) Weighted Average Fixed Price April 2016 - December 2016 8,250 $ (0.38 ) Oil Collars - Three-way Notional (MBbls) Sold Put Purchased Put Sold Call April 2016 - December 2016 1,646 $ 82.99 $ 90.00 $ 100.58
Fair Value of Derivatives	The following table presents the fair value of the Company’s derivative contracts as of March 31, 2016 and December 31, 2015 on a gross basis without regard to same-counterparty netting (in thousands): Type of Contract Balance Sheet Classification March 31, December 31, Derivative assets Oil price swaps Derivative contracts-current $ 50,793 $ 68,224 Oil collars - three way Derivative contracts-current 11,417 17,300 Derivative liabilities Natural gas basis swaps Derivative contracts-current (1,162 ) (1,748 ) Debt holder conversion feature Current maturities of long-term debt (7,281 ) (29,355 ) Mandatory prepayment feature - PGC Senior Secured Notes Current maturities of long-term debt (2,496 ) (2,941 ) Total net derivative contracts $ 51,271 $ 51,480

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]
Reconciliation of Beginning and Ending Aggregate Carrying Amounts of Asset Retirement Obligation	A reconciliation of the beginning and ending aggregate carrying amounts of the asset retirement obligations for the period from December 31, 2015 to March 31, 2016 is as follows (in thousands): Asset retirement obligations at December 31, 2015 $ 103,578 Liability incurred upon acquiring and drilling wells 153 Liability settled or disposed in current period(1) (34,600 ) Accretion 1,588 Asset retirement obligations at March 31, 2016 70,719 Less: current portion 8,440 Asset retirement obligations, net of current $ 62,279 ____________________ (1) Includes $34.1 million associated with the divestiture of the Company’s oil and natural gas properties located in the Piñon field in the WTO, as discussed in Note 3 .

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Treasury Stock	The following table shows the number of shares withheld for taxes and the associated value of those shares for the three -month periods ended March 31, 2016 and 2015 . These shares were accounted for as treasury stock when withheld and then immediately retired. Three Months Ended March 31, 2016 2015 (In thousands) Number of shares withheld for taxes 853 719 Value of shares withheld for taxes $ 37 $ 1,218

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Provision for Income Taxes	The provision for income taxes consisted of the following components for the three -month periods ended March 31, 2016 and 2015 (in thousands): Three Months Ended March 31, 2016 2015 Current Federal $ — $ — State 4 40 Total provision 4 40 Less: income tax provision attributable to noncontrolling interest — 30 Total provision attributable to SandRidge Energy, Inc. $ 4 $ 10

Loss per Share (Tables)

Loss per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Calculation of Weighted Average Common Shares Outstanding used in Computation of Diluted Loss Per Share	The following table summarizes the calculation of weighted average common shares outstanding used in the computation of diluted loss per share, for the three -month periods ended March 31, 2016 and 2015 : Net Loss Weighted Average Shares Loss Per Share (In thousands, except per share amounts) Three Months Ended March 31, 2016 Basic loss per share $ (324,107 ) 689,784 $ (0.47 ) Effect of dilutive securities Restricted stock and units(1) — — Convertible preferred stock(2) — — Convertible senior unsecured notes(3) — — Diluted loss per share $ (324,107 ) 689,784 $ (0.47 ) Three Months Ended March 31, 2015 Basic loss per share $ (1,045,834 ) 478,165 $ (2.19 ) Effect of dilutive securities Restricted stock and units(1) — — Convertible preferred stock(2) — — Diluted loss per share $ (1,045,834 ) 478,165 $ (2.19 ) ____________________ (1) No incremental shares of potentially dilutive restricted stock awards or units were included for the three -month periods ended March 31, 2016 or 2015 as their effect was antidilutive under the treasury stock method. (2) Potential common shares related to the Company’s outstanding 8.5% and 7.0% convertible perpetual preferred stock covering 67.6 million and 71.7 million shares for the three -month periods ended March 31, 2016 and 2015 , respectively, were excluded from the computation of loss per share because their effect would have been antidilutive under the if-converted method. (3) Potential common shares related to the Company’s outstanding 8.125% and 7.5% Convertible Senior Unsecured Notes covering 58.3 million shares for the three -month period ended March 31, 2016 were excluded from the computation of loss per share because their effect would have been antidilutive under the if-converted method.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Unvested Restricted Stock Awards	The following table presents a summary of the Company’s unvested restricted stock awards. Number of Shares Weighted- Average Grant Date Fair Value (In thousands) Unvested restricted shares outstanding at December 31, 2015 5,626 $ 4.85 Granted — $ — Vested (2,279 ) $ 6.15 Forfeited / Canceled (107 ) $ 6.25 Unvested restricted shares outstanding at March 31, 2016 3,240 $ 3.89

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Summarized Financial Information Concerning Segments	Summarized financial information concerning the Company’s segments is shown in the following table (in thousands): Exploration and Production(1)(2) Midstream Services(3) All Other Consolidated Total Three Months Ended March 31, 2016 Revenues $ 84,375 $ 10,245 $ 4,189 $ 98,809 Inter-segment revenue — (5,958 ) (2,519 ) (8,477 ) Total revenues $ 84,375 $ 4,287 $ 1,670 $ 90,332 Loss from operations $ (232,207 ) $ (3,588 ) $ (37,760 ) $ (273,555 ) Interest expense, net — — (81,151 ) (81,151 ) Gain on extinguishment of debt — — 41,331 41,331 Other income expense, net 750 (495 ) (102 ) 153 Loss before income taxes $ (231,457 ) $ (4,083 ) $ (77,682 ) $ (313,222 ) Capital expenditures(4) $ 50,544 $ 1,230 $ 1,707 $ 53,481 Depreciation, depletion, amortization and accretion $ 33,934 $ 2,446 $ 4,369 $ 40,749 At March 31, 2016 Total assets $ 1,430,717 $ 205,382 $ 937,960 $ 2,574,059 Three Months Ended March 31, 2015 Revenues $ 195,743 $ 21,529 $ 25,596 $ 242,868 Inter-segment revenue (11 ) (12,765 ) (14,784 ) (27,560 ) Total revenues $ 195,732 $ 8,764 $ 10,812 $ 215,308 Loss from operations $ (1,054,158 ) $ (3,873 ) $ (30,425 ) $ (1,088,456 ) Interest expense, net (16 ) — (62,826 ) (62,842 ) Other (expense) income, net (454 ) 4 (86 ) (536 ) Loss before income taxes $ (1,054,628 ) $ (3,869 ) $ (93,337 ) $ (1,151,834 ) Capital expenditures(4) $ 302,062 $ 8,432 $ 9,697 $ 320,191 Depreciation, depletion, amortization and accretion $ 107,211 $ 2,679 $ 10,644 $ 120,534 At December 31, 2015 Total assets $ 1,959,975 $ 254,212 $ 707,840 $ 2,922,027 ____________________ (1) Loss from operations for the three -month period ended March 31, 2016 includes a full cost ceiling limitation impairment of $108.4 million , loss on settlement of contract of $89.1 million and the write off a $16.7 million joint interest receivable after determination that its collection was doubtful at March 31, 2016 . (2) Loss from operations for the three -month period ended March 31, 2015 includes a full cost ceiling limitation impairment of $1.1 billion . (3) Loss from operations for the three -month period ended March 31, 2016 includes a $1.7 million impairment of midstream assets. (4) On an accrual basis and exclusive of acquisitions.

Condensed Consolidating Finan36

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets March 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated (In thousands) ASSETS Current assets Cash and cash equivalents $ 669,978 $ 22,084 $ 1,980 $ — $ 694,042 Accounts receivable, net 2 71,410 1,294 68 72,774 Intercompany accounts receivable 1,340,776 1,280,481 5,888 (2,627,145 ) — Derivative contracts — 61,403 — — 61,403 Prepaid expenses — 10,421 6 — 10,427 Other current assets — 15,239 — — 15,239 Total current assets 2,010,756 1,461,038 9,168 (2,627,077 ) 853,885 Property, plant and equipment, net — 1,654,610 48,411 — 1,703,021 Investment in subsidiaries 2,774,926 33,055 — (2,807,981 ) — Other assets 3,012 20,043 — (5,902 ) 17,153 Total assets $ 4,788,694 $ 3,168,746 $ 57,579 $ (5,440,960 ) $ 2,574,059 LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY Current liabilities Current maturities of long-term debt $ 3,981,371 $ — $ — $ — $ 3,981,371 Accounts payable and accrued expenses 174,840 87,778 979 68 263,665 Intercompany accounts payable 1,299,686 1,296,354 31,105 (2,627,145 ) — Derivative contracts — 355 — — 355 Asset retirement obligations — 8,440 — — 8,440 Total current liabilities 5,455,897 1,392,927 32,084 (2,627,077 ) 4,253,831 Investment in subsidiaries 1,079,991 7,539 — (1,087,530 ) — Long-term debt 5,902 — — (5,902 ) — Asset retirement obligations — 62,279 — — 62,279 Other long-term obligations 81 11,066 — — 11,147 Total liabilities 6,541,871 1,473,811 32,084 (3,720,509 ) 4,327,257 Stockholders’ (deficit) equity SandRidge Energy, Inc. stockholders’ (deficit) equity (1,753,177 ) 1,694,935 25,495 (1,720,430 ) (1,753,177 ) Noncontrolling interest — — — (21 ) (21 ) Total stockholders’ (deficit) equity (1,753,177 ) 1,694,935 25,495 (1,720,451 ) (1,753,198 ) Total liabilities and stockholders’ (deficit) equity $ 4,788,694 $ 3,168,746 $ 57,579 $ (5,440,960 ) $ 2,574,059 December 31, 2015 Parent Guarantors Non-Guarantors Eliminations Consolidated (In thousands) ASSETS Current assets Cash and cash equivalents $ 426,917 $ 847 $ 7,824 $ — $ 435,588 Accounts receivable, net — 122,606 4,781 — 127,387 Intercompany accounts receivable 1,226,994 1,305,573 30,683 (2,563,250 ) — Derivative contracts — 84,349 — — 84,349 Prepaid expenses — 6,826 7 — 6,833 Other current assets — 19,931 — — 19,931 Total current assets 1,653,911 1,540,132 43,295 (2,563,250 ) 674,088 Property, plant and equipment, net — 2,124,532 110,170 — 2,234,702 Investment in subsidiaries 2,749,514 8,531 — (2,758,045 ) — Other assets 3,131 16,008 — (5,902 ) 13,237 Total assets $ 4,406,556 $ 3,689,203 $ 153,465 $ (5,327,197 ) $ 2,922,027 LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY Current liabilities Accounts payable and accrued expenses $ 160,122 $ 265,767 $ 2,528 $ — $ 428,417 Intercompany accounts payable 1,337,688 1,192,569 32,993 (2,563,250 ) — Derivative contracts — 573 — — 573 Asset retirement obligations — 8,399 — — 8,399 Total current liabilities 1,497,810 1,467,308 35,521 (2,563,250 ) 437,389 Investment in subsidiaries 1,038,303 400,771 — (1,439,074 ) — Long-term debt 3,568,280 — — (5,902 ) 3,562,378 Asset retirement obligations — 95,179 — — 95,179 Other long-term obligations 80 14,734 — — 14,814 Total liabilities 6,104,473 1,977,992 35,521 (4,008,226 ) 4,109,760 Stockholders’ (deficit) equity SandRidge Energy, Inc. stockholders’ (deficit) equity (1,697,917 ) 1,711,211 117,944 (1,829,155 ) (1,697,917 ) Noncontrolling interest — — — 510,184 510,184 Total stockholders’ (deficit) equity (1,697,917 ) 1,711,211 117,944 (1,318,971 ) (1,187,733 ) Total liabilities and stockholders’ (deficit) equity $ 4,406,556 $ 3,689,203 $ 153,465 $ (5,327,197 ) $ 2,922,027
Condensed Consolidating Statements of Operations	Condensed Consolidating Statements of Operations Parent Guarantors Non-Guarantors Eliminations Consolidated (In thousands) Three Months Ended March 31, 2016 Total revenues $ — $ 86,665 $ 3,667 $ — $ 90,332 Expenses Direct operating expenses — 53,461 881 — 54,342 General and administrative 50 73,788 440 — 74,278 Depreciation, depletion, amortization and accretion — 39,745 1,004 — 40,749 Impairment — 104,717 5,397 — 110,114 Gain on derivative contracts — (2,808 ) — — (2,808 ) Loss on settlement of contract — 89,092 — — 89,092 Gain on sale of assets — (1,880 ) — — (1,880 ) Total expenses 50 356,115 7,722 — 363,887 Loss from operations (50 ) (269,450 ) (4,055 ) — (273,555 ) Equity earnings from subsidiaries (273,358 ) (4,058 ) — 277,416 — Interest expense (81,151 ) — — — (81,151 ) Gain on extinguishment of debt 41,331 — — — 41,331 Other income, net — 150 3 — 153 Loss before income taxes (313,228 ) (273,358 ) (4,052 ) 277,416 (313,222 ) Income tax (benefit) expense (2 ) — 6 — 4 Net loss $ (313,226 ) $ (273,358 ) $ (4,058 ) $ 277,416 $ (313,226 ) Parent Guarantors Non-Guarantors Eliminations Consolidated (In thousands) Three Months Ended March 31, 2015 Total revenues $ — $ 192,520 $ 22,796 $ (8 ) $ 215,308 Expenses Direct operating expenses — 112,117 2,837 (8 ) 114,946 General and administrative 56 35,219 874 — 36,149 Depreciation, depletion, amortization and accretion — 109,853 10,681 — 120,534 Impairment — 903,235 180,631 — 1,083,866 Gain on derivative contracts — (44,109 ) (5,718 ) — (49,827 ) Gain on sale of assets — (1,900 ) (4 ) — (1,904 ) Total expenses 56 1,114,415 189,301 (8 ) 1,303,764 Loss from operations (56 ) (921,895 ) (166,505 ) — (1,088,456 ) Equity earnings from subsidiaries (972,071 ) (49,621 ) — 1,021,692 — Interest expense (62,826 ) (16 ) — — (62,842 ) Other (expense) income, net — (539 ) 3 — (536 ) Loss before income taxes (1,034,953 ) (972,071 ) (166,502 ) 1,021,692 (1,151,834 ) Income tax expense — — 40 — 40 Net loss (1,034,953 ) (972,071 ) (166,542 ) 1,021,692 (1,151,874 ) Less: net loss attributable to noncontrolling interest — — — (116,921 ) (116,921 ) Net loss attributable to SandRidge Energy, Inc. $ (1,034,953 ) $ (972,071 ) $ (166,542 ) $ 1,138,613 $ (1,034,953 )
Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows Parent Guarantors Non-Guarantors Eliminations Consolidated (In thousands) Three Months Ended March 31, 2016 Net cash used in operating activities $ (131,724 ) $ (28,388 ) $ (2,532 ) $ — $ (162,644 ) Cash flows from investing activities Capital expenditures for property, plant, and equipment — (70,546 ) — — (70,546 ) Other — 6,561 — (3,484 ) 3,077 Net cash used in investing activities — (63,985 ) — (3,484 ) (67,469 ) Cash flows from financing activities Proceeds from borrowings 488,900 — — — 488,900 Intercompany (advances) borrowings, net (113,782 ) 113,610 172 — — Other (333 ) — (3,484 ) 3,484 (333 ) Net cash provided by (used in) financing activities 374,785 113,610 (3,312 ) 3,484 488,567 Net increase (decrease) in cash and cash equivalents 243,061 21,237 (5,844 ) — 258,454 Cash and cash equivalents at beginning of year 426,917 847 7,824 — 435,588 Cash and cash equivalents at end of period $ 669,978 $ 22,084 $ 1,980 $ — $ 694,042 Parent Guarantors(1) Non-Guarantors Eliminations(1) Consolidated (In thousands) Three Months Ended March 31, 2015 Net cash (used in) provided by operating activities $ (92,504 ) $ 133,837 $ 25,968 $ 22,794 $ 90,095 Cash flows from investing activities Capital expenditures for property, plant, and equipment — (377,052 ) — — (377,052 ) Other — 5,279 4 (4,267 ) 1,016 Net cash (used in) provided by investing activities — (371,773 ) 4 (4,267 ) (376,036 ) Cash flows from financing activities Proceeds from borrowings 420,000 — — — 420,000 Repayments of borrowings (245,000 ) — — — (245,000 ) Intercompany (advances) borrowings, net (238,183 ) 238,337 (154 ) — — Other (14,775 ) — (25,189 ) (18,527 ) (58,491 ) Net cash (used in) provided by financing activities (77,958 ) 238,337 (25,343 ) (18,527 ) 116,509 Net (decrease) increase in cash and cash equivalents (170,462 ) 401 629 — (169,432 ) Cash and cash equivalents at beginning of year 170,468 1,398 9,387 — 181,253 Cash and cash equivalents at end of period $ 6 $ 1,799 $ 10,016 $ — $ 11,821 ____________________ (1) Other investing activities for the Guarantor has increased to correctly exclude $43.7 million in noncontrolling interest distributions, with a corresponding decrease for Eliminations for this same line item. In addition, other financing activities for the Guarantor, has decreased to correctly exclude $43.7 million of noncontrolling interest distributions, with a corresponding increase for Eliminations for the same line item. The corrections did not result in any changes to consolidated net cash (used in) provided by investing activities or net cash (used in) provided by financing activities.

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jan. 01, 2016	Dec. 31, 2015	Mar. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total assets	$ 2,574,059		$ 2,922,027	$ 2,922,027
Noncontrolling interest	(21)		510,184
Retained earnings	$ (7,059,723)		(6,992,697)
Accounting Standards Updates (ASU) 2015-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total assets		$ (243,400)
Noncontrolling interest		(510,200)
Accounts payable		9,700
Retained earnings		$ 257,100
Accounting Standards Updates (ASU) 2015-03 | Other assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt issuance costs			69,100
Accounting Standards Updates (ASU) 2015-03 | Current maturities of long-term debt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt issuance costs			$ 69,100

Going Concern (Details)

Going Concern (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 21, 2016USD ($)	Mar. 11, 2016USD ($)
Debt Instrument
Subjective acceleration clause period	30 days
Senior credit facility
Debt Instrument
Borrowing base			$ 340
Debt Instrument, Restrictive Covenants, Ratio of Secured Debt To EBITDA, Measured Quarterly	2
Current Ratio, Minimum	1
June Amendment | Senior credit facility
Debt Instrument
Borrowing base		$ 500

Divestitures (Details)

Divestitures (Details) - USD ($) $ in Thousands	Jan. 21, 2016	Mar. 31, 2016	Mar. 31, 2015
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Cash paid on settlement of contract		$ 11,000	$ 0
Loss on settlement of contract		(89,092)	$ 0
Disposed of by Means Other Than Sales | WTO Properties
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Cash paid on settlement of contract	$ 11,000
Treating Agreement | Disposed of by Means Other Than Sales | WTO Properties
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]
Contract agreement, term	30 years
Cumulative shortfall accrued	$ 111,900
Loss on settlement of contract		$ 89,100

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Oct. 31, 2015	Aug. 31, 2015	Jun. 30, 2015
8.75% Senior Secured Notes due 2020 | Senior Secured Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis
Debt, face amount	$ 1,300,000,000		$ 78,000,000		$ 1,250,000,000
Long-term debt, fixed interest rate	8.75%	8.75%
8.75% Senior Notes due 2020 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis
Long-term debt, fixed interest rate	8.75%	8.75%
Aggregate outstanding principal amount	$ 100,000,000
8.125% Convertible Senior Notes due 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis
Long-term debt, fixed interest rate	8.125%
8.125% Convertible Senior Notes due 2022 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis
Long-term debt, fixed interest rate	8.125%	8.125%
8.125% Convertible Senior Notes due 2022 | Convertible Senior Unsecured Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis
Long-term debt, fixed interest rate	8.125%	8.125%		8.125%
7.5% Convertible Senior Notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis
Long-term debt, fixed interest rate	7.50%
7.5% Convertible Senior Notes due 2023 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis
Long-term debt, fixed interest rate	7.50%	7.50%
7.5% Convertible Senior Notes due 2023 | Convertible Senior Unsecured Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis
Long-term debt, fixed interest rate	7.50%	7.50%		7.50%

Fair Value Measurements - Signi

Fair Value Measurements - Significant Unobservable Inputs - Derivative Contracts (Details) - Natural gas basis swaps - Fair Value Measurements Level 3 $ in Thousands	Mar. 31, 2016USD ($)$ / Mcf	Dec. 31, 2015USD ($)$ / Mcf
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Fair Value | $	$ (1,162)	$ (1,748)
Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Derivative, forward price (usd/mcf)	(0.12)	(0.06)
Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Derivative, forward price (usd/mcf)	(0.30)	(0.28)
Weighted Average
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Derivative, forward price (usd/mcf)	(0.24)	(0.22)

Fair Value Measurements - Sig42

Fair Value Measurements - Significant Unobservable Inputs - Long Term Debt Conversion Feature (Details) - Fair Value Measurements Level 3 - Debt holder conversion feature - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value	$ 7,281	$ 29,355
Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Debt conversion hazard rate	104.90%	114.00%
Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Debt conversion hazard rate	114.20%	135.20%
Weighted Average
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Debt conversion hazard rate	109.90%	119.20%

Fair Value Measurements - Sig43

Fair Value Measurements - Significant Unobservable Inputs - Guarantees (Details) - Gulf Properties - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Mar. 31, 2016
Significant Unobservable Inputs
Hazard rate	3.71%
Fair Value Measurements Level 3
Significant Unobservable Inputs
Estimated future payments for plugging and abandonment		$ 372

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	$ 62,210	$ 85,524
Derivative liabilities	1,162	1,748
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis
Netting adjustments, assets	(807)	(1,175)
Assets at Fair Value	70,452	94,455
Netting adjustments, liabilities	(807)	(1,175)
Liabilities at fair value	10,132	32,869
Fair Value, Measurements, Recurring | Commodity derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis
Netting adjustments, assets	(807)	(1,175)
Assets at Fair Value	61,403	84,349
Netting adjustments, liabilities	(807)	(1,175)
Liabilities at fair value	355	573
Fair Value, Measurements, Recurring | Investments
Fair Value, Assets and Liabilities Measured on Recurring Basis
Netting adjustments, assets	0	0
Assets at Fair Value	9,049	10,106
Fair Value, Measurements, Recurring | Debt holder conversion feature
Fair Value, Assets and Liabilities Measured on Recurring Basis
Netting adjustments, liabilities	0	0
Liabilities at fair value	7,281	29,355
Fair Value, Measurements, Recurring | Mandatory prepayment feature - PGC Senior Secured Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis
Netting adjustments, liabilities	0	0
Liabilities at fair value	2,496	2,941
Fair Value, Measurements, Recurring | Fair Value Measurements Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	9,049	10,106
Derivative liabilities	0	0
Fair Value, Measurements, Recurring | Fair Value Measurements Level 1 | Commodity derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	0	0
Derivative liabilities	0	0
Fair Value, Measurements, Recurring | Fair Value Measurements Level 1 | Investments
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	9,049	10,106
Fair Value, Measurements, Recurring | Fair Value Measurements Level 1 | Debt holder conversion feature
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative liabilities	0	0
Fair Value, Measurements, Recurring | Fair Value Measurements Level 1 | Mandatory prepayment feature - PGC Senior Secured Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative liabilities	0	0
Fair Value, Measurements, Recurring | Fair Value Measurements Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	62,210	85,524
Derivative liabilities	2,496	2,941
Fair Value, Measurements, Recurring | Fair Value Measurements Level 2 | Commodity derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	62,210	85,524
Derivative liabilities	0	0
Fair Value, Measurements, Recurring | Fair Value Measurements Level 2 | Investments
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	0	0
Fair Value, Measurements, Recurring | Fair Value Measurements Level 2 | Debt holder conversion feature
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative liabilities	0	0
Fair Value, Measurements, Recurring | Fair Value Measurements Level 2 | Mandatory prepayment feature - PGC Senior Secured Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative liabilities	2,496	2,941
Fair Value, Measurements, Recurring | Fair Value Measurements Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	0	0
Derivative liabilities	8,443	31,103
Fair Value, Measurements, Recurring | Fair Value Measurements Level 3 | Commodity derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	0	0
Derivative liabilities	1,162	1,748
Fair Value, Measurements, Recurring | Fair Value Measurements Level 3 | Investments
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative assets	0	0
Fair Value, Measurements, Recurring | Fair Value Measurements Level 3 | Debt holder conversion feature
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative liabilities	7,281	29,355
Fair Value, Measurements, Recurring | Fair Value Measurements Level 3 | Mandatory prepayment feature - PGC Senior Secured Notes
Fair Value, Assets and Liabilities Measured on Recurring Basis
Derivative liabilities	$ 0	$ 0

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Fair Value Measurements for Commodity Derivative Contracts (Details) - Commodity derivative contracts - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Level 3 Fair Value Measurements - Commodity Derivative Contracts
Beginning balance	$ (1,748)	$ 350
Purchases	0	347
Loss on commodity derivative contracts	586	635
Ending balance	$ (1,162)	$ 1,332

Fair Value Measurements - Rec46

Fair Value Measurements - Reconciliation of Fair Value Measurements for Long-Term Debt Holder Conversion Feature (Details) - Debt holder conversion feature $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Beginning balance	$ 29,355
Gain on derivative holder conversion feature	(880)
Conversions	(21,194)
Ending balance	$ 7,281

Fair Value Measurements - Rec47

Fair Value Measurements - Reconciliation of Fair Value Measurements for Guarantees (Details) - Guarantees $ in Thousands	3 Months Ended
	Mar. 31, 2015USD ($)
Level 3 Fair Value Measurements - Guarantee
Beginning balance	$ 5,104
Gain on guarantee	(313)
Ending balance	$ 4,791

Fair Value Measurements - Estim

Fair Value Measurements - Estimated Fair Value and Carrying Value of Senior Notes (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Aug. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring Basis
Carrying Value	$ 3,981,371	$ 3,562,378
8.125% Convertible Senior Notes due 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis
Long-term debt, fixed interest rate	8.125%
7.5% Convertible Senior Notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis
Long-term debt, fixed interest rate	7.50%
Senior Secured Notes | 8.75% Senior Secured Notes due 2020
Fair Value, Assets and Liabilities Measured on Recurring Basis
Carrying Value	$ 1,267,924	$ 1,265,814
Long-term debt, fixed interest rate	8.75%	8.75%
Senior Unsecured Notes | 8.75% Senior Notes due 2020
Fair Value, Assets and Liabilities Measured on Recurring Basis
Carrying Value	$ 389,645	$ 389,232
Long-term debt, fixed interest rate	8.75%	8.75%
Senior Unsecured Notes | 7.5% Senior Notes due 2021
Fair Value, Assets and Liabilities Measured on Recurring Basis
Carrying Value	$ 751,416	$ 751,087
Long-term debt, fixed interest rate	7.50%	7.50%
Senior Unsecured Notes | 8.125% Senior Notes due 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis
Carrying Value	$ 519,026	$ 518,693
Long-term debt, fixed interest rate	8.125%	8.125%
Senior Unsecured Notes | 7.5% Senior Notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis
Carrying Value	$ 535,191	$ 534,869
Long-term debt, fixed interest rate	7.50%	7.50%
Senior Unsecured Notes | 8.125% Convertible Senior Notes due 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis
Long-term debt, fixed interest rate	8.125%	8.125%
Senior Unsecured Notes | 7.5% Convertible Senior Notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis
Long-term debt, fixed interest rate	7.50%	7.50%
Convertible Senior Unsecured Notes | 8.125% Convertible Senior Notes due 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis
Carrying Value	$ 14,692	$ 78,290
Long-term debt, fixed interest rate	8.125%	8.125%	8.125%
Convertible Senior Unsecured Notes | 7.5% Convertible Senior Notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis
Carrying Value	$ 14,577	$ 24,393
Long-term debt, fixed interest rate	7.50%	7.50%	7.50%
Fair Value Measurements Level 2 | Senior Secured Notes | 8.75% Senior Secured Notes due 2020
Fair Value, Assets and Liabilities Measured on Recurring Basis
Fair Value	$ 332,930	$ 403,098
Fair Value Measurements Level 2 | Senior Unsecured Notes | 8.75% Senior Notes due 2020
Fair Value, Assets and Liabilities Measured on Recurring Basis
Fair Value	24,769	39,740
Fair Value Measurements Level 2 | Senior Unsecured Notes | 7.5% Senior Notes due 2021
Fair Value, Assets and Liabilities Measured on Recurring Basis
Fair Value	43,386	79,812
Fair Value Measurements Level 2 | Senior Unsecured Notes | 8.125% Senior Notes due 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis
Fair Value	31,610	57,749
Fair Value Measurements Level 2 | Senior Unsecured Notes | 7.5% Senior Notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis
Fair Value	27,129	58,799
Fair Value Measurements Level 2 | Convertible Senior Unsecured Notes | 8.125% Convertible Senior Notes due 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis
Fair Value	103	44,199
Fair Value Measurements Level 2 | Convertible Senior Unsecured Notes | 7.5% Convertible Senior Notes due 2023
Fair Value, Assets and Liabilities Measured on Recurring Basis
Fair Value	$ 118	$ 15,125

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Oil and natural gas properties
Proved	$ 11,961,413	$ 12,529,681
Unproved	350,646	363,149
Total oil and natural gas properties	12,312,059	12,892,830
Less: accumulated depreciation, depletion and impairment	(11,035,575)	(11,149,888)
Net oil and natural gas properties capitalized costs	1,276,484	1,742,942
Land	5,450	14,260
Non-oil and natural gas equipment	310,122	373,687
Buildings and structures	229,352	227,673
Total	544,924	615,620
Less accumulated depreciation and amortization	(118,387)	(123,860)
Other property, plant and equipment, net	426,537	491,760
Total property, plant and equipment, net	1,703,021	2,234,702
Oil and natural gas proved properties
Property, Plant and Equipment
Cumulative capitalized interest	50,300	48,900
Non-oil and natural gas equipment
Property, Plant and Equipment
Cumulative capitalized interest	4,300	4,300
Buildings and structures
Property, Plant and Equipment
Cumulative capitalized interest	$ 20,400	$ 20,400

Property, Plant and Equipment50

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Property, Plant and Equipment
Full cost ceiling limitation impairment	$ 108,400
Loss on sale of assets	(1,880)	$ (1,904)
Repsol E&P USA, Inc.
Property, Plant and Equipment
Drilling carry costs incurred	5,200
Repsol E&P USA, Inc. | Potential drilling carry costs
Property, Plant and Equipment
Total drilling carry	9,900		$ 31,000
Drilling and oil field services assets
Property, Plant and Equipment
Assets held for sale	15,200
Drilling And Oil Field Services
Property, Plant and Equipment
Loss on sale of assets	$ 1,400

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Investments	$ 9,049	$ 10,106
Senior credit facility debt issuance costs, net of amortization	3,012	3,131
Utility deposits	4,796	0
Other	296	0
Total other assets	$ 17,153	$ 13,237

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Oct. 31, 2015	Aug. 31, 2015
Debt Instrument
Unamortized discounts, premiums, and deferred costs, net	$ 157,900	$ 342,600
Fair value of debt derivative	9,800	32,300
Debt	3,981,371	3,562,378
Less: current maturities of long-term debt(1)	3,981,371	0
Long-term debt	$ 0	3,562,378
8.125% Convertible Senior Notes due 2022
Debt Instrument
Long-term debt, fixed interest rate	8.125%
7.5% Convertible Senior Notes due 2023
Debt Instrument
Long-term debt, fixed interest rate	7.50%
Senior credit facility
Debt Instrument
Debt	$ 488,900	0
Senior Secured Notes | 8.75% Senior Secured Notes due 2020
Debt Instrument
Fair value of debt derivative			$ 2,800
Debt	$ 1,267,924	$ 1,265,814
Long-term debt, fixed interest rate	8.75%	8.75%
Senior Notes | 8.75% Senior Notes due 2020
Debt Instrument
Debt	$ 389,645	$ 389,232
Long-term debt, fixed interest rate	8.75%	8.75%
Senior Notes | 7.5% Senior Notes due 2021
Debt Instrument
Debt	$ 751,416	$ 751,087
Long-term debt, fixed interest rate	7.50%	7.50%
Senior Notes | 8.125% Senior Notes due 2022
Debt Instrument
Debt	$ 519,026	$ 518,693
Long-term debt, fixed interest rate	8.125%	8.125%
Senior Notes | 7.5% Senior Notes due 2023
Debt Instrument
Debt	$ 535,191	$ 534,869
Long-term debt, fixed interest rate	7.50%	7.50%
Senior Notes | 8.125% Convertible Senior Notes due 2022
Debt Instrument
Long-term debt, fixed interest rate	8.125%	8.125%
Senior Notes | 7.5% Convertible Senior Notes due 2023
Debt Instrument
Long-term debt, fixed interest rate	7.50%	7.50%
Convertible Senior Unsecured Notes | 8.125% Convertible Senior Notes due 2022
Debt Instrument
Debt	$ 14,692	$ 78,290
Long-term debt, fixed interest rate	8.125%	8.125%		8.125%
Convertible Senior Unsecured Notes | 7.5% Convertible Senior Notes due 2023
Debt Instrument
Debt	$ 14,577	$ 24,393
Long-term debt, fixed interest rate	7.50%	7.50%		7.50%

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 11, 2016	Dec. 31, 2015	Oct. 31, 2015	Aug. 31, 2015
Debt Instrument
Carrying value		$ 3,981,371,000			$ 3,562,378,000
Fair value of debt derivative		$ 9,800,000			32,300,000
Common stock issued for debt exchange (in shares)		84.4
Aggregate cash payments for early conversion		$ 33,500,000
Gain (loss) on extinguishment of debt		41,331,000	$ 0
Write off of debt issuance costs		0	$ 2,221,000
Conversion Of Senior Notes To Common Stock
Debt Instrument
Gain (loss) on extinguishment of debt		41,300,000
Write off of debt issuance costs		$ 4,300,000
8.125% Convertible Senior Notes due 2022
Debt Instrument
Long-term debt, fixed interest rate		8.125%
7.5% Convertible Senior Notes due 2023
Debt Instrument
Long-term debt, fixed interest rate		7.50%
Senior credit facility
Debt Instrument
Debt Instrument, Restrictive Covenants, Ratio of Secured Debt To EBITDA, Measured Quarterly		2
Current Ratio, Minimum		1
Number of days prior to earliest maturity date or mandatory offer of repurchase		91 days
Allowed repurchases of outstanding debt		$ 275,000,000
Minimum collateral amount of proved oil, natural gas and NGL reserves representing the discounted present value of reserves used in borrowing base determination		80.00%
Maximum borrowing capacity		$ 1,000,000,000
Borrowing base				$ 340,000,000
Additional aggregate principal indebtedness permitted (less than)		1,750,000,000
Reduction in borrowing base for every $1 junior lien debt incurred		0.25
Carrying value		488,900,000			0
Outstanding letters of credit		$ 10,400,000
Senior credit facility | Maximum
Debt Instrument
Unused capacity, commitment fee percentage		0.50%
Senior credit facility | LIBOR | Minimum
Debt Instrument
Basis spread on variable rate		1.75%
Senior credit facility | LIBOR | Maximum
Debt Instrument
Basis spread on variable rate		2.75%
Senior credit facility | Federal Funds Rate
Debt Instrument
Basis spread on variable rate		0.50%
Senior credit facility | One-Month Eurodollar Rate
Debt Instrument
Basis spread on variable rate		1.00%
Senior credit facility | Base Rate | Minimum
Debt Instrument
Basis spread on variable rate		0.75%
Senior credit facility | Base Rate | Maximum
Debt Instrument
Basis spread on variable rate		1.75%
Junior lien debt
Debt Instrument
Outstanding junior debt threshold, reduction of maximum borrowing base		$ 1,500,000,000
Senior Secured Notes | 8.75% Senior Secured Notes due 2020
Debt Instrument
Carrying value		1,267,924,000			$ 1,265,814,000
Debt, face amount	$ 1,250,000,000	$ 1,300,000,000				$ 78,000,000
Proceeds from issuance of debt, net of issuance costs	$ 1,210,000,000
Fair value of debt						50,300,000
Fair value of debt derivative						2,800,000
Unamortized discount						$ 30,500,000
Long-term debt, fixed interest rate		8.75%			8.75%
Debt issuance costs		$ 39,300,000
Senior Notes
Debt Instrument
Debt issuance costs		48,900,000
Senior Notes | 8.75% Senior Notes due 2020
Debt Instrument
Carrying value		$ 389,645,000			$ 389,232,000
Long-term debt, fixed interest rate		8.75%			8.75%
Aggregate outstanding principal amount		$ 100,000,000
Senior Notes | 8.125% Convertible Senior Notes due 2022
Debt Instrument
Long-term debt, fixed interest rate		8.125%			8.125%
Senior Notes | 7.5% Convertible Senior Notes due 2023
Debt Instrument
Long-term debt, fixed interest rate		7.50%			7.50%
Convertible Senior Unsecured Notes
Debt Instrument
Debt issuance costs		$ 1,900,000
Conversion rate		0.3636
Percentage of applicable conversion price threshold		40.00%
Conversion price threshold (usd per share)		$ 1.10
Notes exchanged/converted		$ 232,100,000
Convertible Senior Unsecured Notes | 8.125% Convertible Senior Notes due 2022
Debt Instrument
Carrying value		$ 14,692,000			$ 78,290,000
Long-term debt, fixed interest rate		8.125%			8.125%		8.125%
Notes exchanged/converted		$ 200,500,000
Aggregate principal amount of convertible debt net of discount and including holders' conversion feature exercised		67,400,000
Convertible Senior Unsecured Notes | 7.5% Convertible Senior Notes due 2023
Debt Instrument
Carrying value		$ 14,577,000			$ 24,393,000
Long-term debt, fixed interest rate		7.50%			7.50%		7.50%
Notes exchanged/converted		$ 31,600,000
Aggregate principal amount of convertible debt net of discount and including holders' conversion feature exercised		$ 10,400,000

Derivatives - Narrative (Detail

Derivatives - Narrative (Details)	3 Months Ended
	Mar. 31, 2016USD ($)institution	Mar. 31, 2015USD ($)	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure
Gain on derivative contracts	$ 2,808,000	$ 49,827,000
Number of counterparties to open derivative contracts | institution	6
Senior Notes | 8.75% Senior Notes due 2020
Derivative Instruments and Hedging Activities Disclosure
Long-term debt, fixed interest rate	8.75%		8.75%
Aggregate outstanding principal amount	$ 100,000,000
Lenders of Senior Credit Facility
Derivative Instruments and Hedging Activities Disclosure
Number of counterparties to open derivative contracts | institution	3
Commodity Derivatives
Derivative Instruments and Hedging Activities Disclosure
Gain on derivative contracts	$ 2,800,000	49,800,000
Commodity Derivatives | Cash
Derivative Instruments and Hedging Activities Disclosure
Gain on derivative contracts	$ 25,500,000	$ 137,000,000

Derivatives - Offsetting Assets

Derivatives - Offsetting Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Derivative assets, gross amounts	$ 62,210	$ 85,524
Derivative assets, gross amounts offset	(807)	(1,175)
Derivative assets, amounts net of offset	61,403	84,349
Derivative assets, financial collateral	0	0
Derivative assets, net amount	61,403	84,349
Liabilities
Derivative liabilities, gross amounts	1,162	1,748
Derivative liabilities, gross amounts offset	(807)	(1,175)
Derivative liabilities, amounts net of offset	355	573
Derivative liabilities, financial collateral	(355)	(573)
Derivative liabilities, net amount	0	0
Current assets
Assets
Derivative assets, gross amounts	62,210	85,524
Derivative assets, gross amounts offset	(807)	(1,175)
Derivative assets, amounts net of offset	61,403	84,349
Derivative assets, financial collateral	0	0
Derivative assets, net amount	61,403	84,349
Noncurrent assets
Assets
Derivative assets, gross amounts	0	0
Derivative assets, gross amounts offset	0	0
Derivative assets, amounts net of offset	0	0
Derivative assets, financial collateral	0	0
Derivative assets, net amount	0	0
Current liabilities
Liabilities
Derivative liabilities, gross amounts	1,162	1,748
Derivative liabilities, gross amounts offset	(807)	(1,175)
Derivative liabilities, amounts net of offset	355	573
Derivative liabilities, financial collateral	(355)	(573)
Derivative liabilities, net amount	0	0
Noncurrent liabilities
Liabilities
Derivative liabilities, gross amounts	0	0
Derivative liabilities, gross amounts offset	0	0
Derivative liabilities, amounts net of offset	0	0
Derivative liabilities, financial collateral	0	0
Derivative liabilities, net amount	$ 0	$ 0

Derivatives - Open Commodity De

Derivatives - Open Commodity Derivative Contracts (Details) - April 2016 - December 2016	3 Months Ended
	Mar. 31, 2016$ / Mcf$ / bblMBblsMcf
Oil price swaps
Derivative Instruments and Hedging Activities Disclosure
Notional (Oil in MBbls/Natural Gas in MMcf) | MBbls	1,100
Weighted Avg. Fixed Price (Oil in USD/bbl, Natural Gas in USD/mcf)	88.36
Natural gas basis swaps
Derivative Instruments and Hedging Activities Disclosure
Notional (Oil in MBbls/Natural Gas in MMcf) | Mcf	8,250
Weighted Avg. Fixed Price (Oil in USD/bbl, Natural Gas in USD/mcf) | $ / Mcf	0.38
Oil collars - three way
Derivative Instruments and Hedging Activities Disclosure
Notional (Oil in MBbls/Natural Gas in MMcf) | MBbls	1,646
Oil collars - three way | Sold | Put
Derivative Instruments and Hedging Activities Disclosure
Collar Range, minimum (in usd per mcf)	82.99
Oil collars - three way | Sold | Call
Derivative Instruments and Hedging Activities Disclosure
Collar Range, maximumCollar Range, minimum (in usd per mcf)	100.58
Oil collars - three way | Purchased | Put
Derivative Instruments and Hedging Activities Disclosure
Collar Range, minimum (in usd per mcf)	90

Derivatives - Fair Value of Der

Derivatives - Fair Value of Derivative Contracts (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value
Derivative assets	$ 62,210	$ 85,524
Derivative liabilities	(1,162)	(1,748)
Total net derivative contracts	51,271	51,480
Current assets
Derivatives, Fair Value
Derivative assets	62,210	85,524
Current liabilities
Derivatives, Fair Value
Derivative liabilities	(1,162)	(1,748)
Oil price swaps | Current assets
Derivatives, Fair Value
Derivative assets	50,793	68,224
Oil collars - three way | Current assets
Derivatives, Fair Value
Derivative assets	11,417	17,300
Natural gas basis swaps | Current liabilities
Derivatives, Fair Value
Derivative liabilities	(1,162)	(1,748)
Debt holder conversion feature | Current maturities of long-term debt
Derivatives, Fair Value
Derivative liabilities	(7,281)	(29,355)
Mandatory prepayment feature - PGC Senior Secured Notes | Current maturities of long-term debt
Derivatives, Fair Value
Derivative liabilities	$ (2,496)	$ (2,941)

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Asset Retirement Obligation, Roll Forward Analysis
Asset retirement obligations at December 31, 2015	$ 103,578
Liability incurred upon acquiring and drilling wells	153
Liability settled or disposed in current period	(34,600)
Accretion	1,588
Asset retirement obligations at March 31, 2016	70,719
Less: current portion	8,440	$ 8,399
Asset retirement obligations	62,279	$ 95,179
WTO Properties
Asset Retirement Obligation, Roll Forward Analysis
Liability settled or disposed in current period	$ (34,100)

Commitments and Contingencies (

Commitments and Contingencies (Details)	Oct. 07, 2015USD ($)	Apr. 05, 2011USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jul. 15, 2013plaintiff	Mar. 31, 2013claim
Shareholder Derivative Actions
Commitments and Contingencies Disclosure
Number of shareholder derivative actions claims filed | claim						7
James Hart And Other Named Plaintiffs
Commitments and Contingencies Disclosure
Loss Contingency, Number Of Additional Plaintiffs | plaintiff					15
Litigation reserve established				$ 5,100,000
Pending Litigation | Shareholder Derivative Actions
Commitments and Contingencies Disclosure
Escrow fund amount established	$ 38,000,000
Settled Litigation | Shareholder Derivative Actions
Commitments and Contingencies Disclosure
Litigation Settlement, Amount			$ 500,000
Litigation, Plaintiff Counsel Fees, Maximum			120,000
Litigation, Incentive Awards, Maximum			$ 15,000
Wesley West Minerals, Ltd and Longfellow Ranch Partners, LP
Commitments and Contingencies Disclosure
Damages sought by plaintiff		$ 45,500,000
General Land Office of the State of Texas
Commitments and Contingencies Disclosure
Damages sought by plaintiff		$ 13,000,000

Equity - Treasury Stock Activit

Equity - Treasury Stock Activity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Equity, Class of Treasury Stock [Line Items]
Value of shares withheld for taxes	$ 37
Retirement of treasury stock	$ 0
Treasury Stock
Equity, Class of Treasury Stock [Line Items]
Number of shares withheld for taxes	853	719
Value of shares withheld for taxes	$ 37	$ 1,218
Retirement of treasury stock (in shares)	853	719
Retirement of treasury stock	$ 37	$ 1,218

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Equity Disclosure
Common stock issued for debt exchange (in shares)	84,400
Additional paid-in capital—stockholder receivable	$ 1,250		$ 1,250
8.5% Convertible perpetual preferred stock
Equity Disclosure
Preferred stock, dividend rate, percentage	8.50%
Cash dividends		$ 11,300
Preferred Stock, Amount of Preferred Dividends in Arrears	$ 11,300
7.0% Convertible perpetual preferred stock
Equity Disclosure
Preferred stock, dividend rate, percentage	7.00%
Preferred Stock, Amount of Preferred Dividends in Arrears	$ 10,500
Common Stock
Equity Disclosure
Common stock issued for debt exchange (in shares)	84,390
Convertible Senior Unsecured Notes
Equity Disclosure
Notes exchanged/converted	$ 232,100
Convertible Senior Unsecured Notes | Common Stock
Equity Disclosure
Common stock issued for debt exchange (in shares)	84,400

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Current
Federal	$ 0	$ 0
State	4	40
Current, total	4	40
Total provision	4	40
Noncontrolling Interest
Current
Total provision	0	30
Parent
Current
Total provision	$ 4	$ 10

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2010
Income Taxes
Unrecognized tax benefits	$ 0.1	$ 0.1
Minimum
Income Taxes
Number of tax years open for state tax audit (in years)	3 years
Maximum
Income Taxes
Number of tax years open for state tax audit (in years)	5 years
Domestic Tax Authority
Income Taxes
Operating loss carryforwards subject to limitation ofuse	$ 484.5		$ 929.4
Domestic Tax Authority | Earliest Tax Year
Income Taxes
Open tax year	2,012
Net Operating Loss And Other Carryforwards | Earliest Tax Year
Income Taxes
Open tax year	2,005
Net Operating Loss And Other Carryforwards | Latest Tax Year
Income Taxes
Open tax year	2,011

Loss per Share (Details)

Loss per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net (Loss) Income, Basic	$ (324,107)	$ (1,045,834)
Weighted Average Shares, Basic	689,784	478,165
Loss Per Share, Basic (in dollars per share)	$ (0.47)	$ (2.19)
Effect of dilutive securities
Restricted stock	$ 0	$ 0
Restricted stock (in shares)	0	0
Convertible preferred stock	$ 0	$ 0
Convertible preferred stock (in shares)	0	0
Convertible senior unsecured notes	$ 0
Convertible senior unsecured notes (in shares)	0
Net Loss, Diluted	$ (324,107)	$ (1,045,834)
Weighted average shares, diluted	689,784	478,165
(Loss) Earnings Per Share, Diluted (in usd per share)	$ (0.47)	$ (2.19)
8.125% Convertible Senior Notes due 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Long-term debt, fixed interest rate	8.125%
7.5% Convertible Senior Notes due 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Long-term debt, fixed interest rate	7.50%
Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	67,600	71,700
Convertible Debt Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	58,300
8.5% Convertible perpetual preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Preferred stock, dividend rate, percentage	8.50%
7.0% Convertible perpetual preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Preferred stock, dividend rate, percentage	7.00%

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Unvested Restricted Stock Awards (Details) - Restricted Stock shares in Thousands	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Number of Shares
Unvested shares/units outstanding at beginning of period | shares	5,626
Granted (in shares) | shares	0
Vested (in shares) | shares	(2,279)
Forfeited / Canceled (in shares) | shares	(107)
Unvested shares/units outstanding at end of period | shares	3,240
Weighted- Average Grant Date Fair Value (usd per share)
Unvested restricted shares outstanding at beginning of period (in usd per share) | $ / shares	$ 4.85
Granted (in usd per share) | $ / shares	0
Vested (in usd per share) | $ / shares	6.15
Forfeited / Canceled (in usd per share) | $ / shares	6.25
Unvested restricted shares outstanding at end of period (in usd per share) | $ / shares	$ 3.89

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 7.4	$ 5.7
Share-based compensation, capitalized	0.6	$ 1.4
Accelerated vesting compensation cost	5.3
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested awards	$ 10
Unrecognized compensation cost, period of recognition	1 year 11 months 16 days
Accelerated vesting (in shares)	1.3
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Accelerated vesting (in shares)	1.8
Company Management | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting (in shares)	1.3

Business Segment Information (D

Business Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)business_unitsegment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information
Reportable segments | segment	2
Business units | business_unit	2
Revenues	$ 90,332	$ 215,308
Loss from operations	(273,555)	(1,088,456)
Interest expense, net	(81,151)	(62,842)
Gain on extinguishment of debt	41,331	0
Other (expense) income, net	153	(536)
Loss before income taxes	(313,222)	(1,151,834)
Capital expenditures	53,481	320,191
Depreciation, depletion, amortization and accretion	40,749	120,534
Total assets	2,574,059	2,922,027	$ 2,922,027
Full cost ceiling limitation impairment	108,400
Loss on settlement of contract	89,092	0
Write off of joint interest receivable	16,701	0
Impairment	110,114	1,083,866
Exploration and Production
Segment Reporting Information
Revenues	84,375	195,732
Loss from operations	(232,207)	(1,054,158)
Interest expense, net	0	(16)
Gain on extinguishment of debt	0
Other (expense) income, net	750	(454)
Loss before income taxes	(231,457)	(1,054,628)
Capital expenditures	50,544	302,062
Depreciation, depletion, amortization and accretion	33,934	107,211
Total assets	1,430,717	1,959,975
Full cost ceiling limitation impairment	108,400	1,100,000
Loss on settlement of contract	89,100
Write off of joint interest receivable	16,700
Midstream Services
Segment Reporting Information
Revenues	4,287	8,764
Loss from operations	(3,588)	(3,873)
Interest expense, net	0	0
Gain on extinguishment of debt	0
Other (expense) income, net	(495)	4
Loss before income taxes	(4,083)	(3,869)
Capital expenditures	1,230	8,432
Depreciation, depletion, amortization and accretion	2,446	2,679
Total assets	205,382	254,212
Impairment	1,700
All Other
Segment Reporting Information
Revenues	1,670	10,812
Loss from operations	(37,760)	(30,425)
Interest expense, net	(81,151)	(62,826)
Gain on extinguishment of debt	41,331
Other (expense) income, net	(102)	(86)
Loss before income taxes	(77,682)	(93,337)
Capital expenditures	1,707	9,697
Depreciation, depletion, amortization and accretion	4,369	10,644
Total assets	937,960	707,840
Operating Segments
Segment Reporting Information
Revenues	98,809	242,868
Operating Segments | Exploration and Production
Segment Reporting Information
Revenues	84,375	195,743
Operating Segments | Midstream Services
Segment Reporting Information
Revenues	10,245	21,529
Operating Segments | All Other
Segment Reporting Information
Revenues	4,189	25,596
Intersegment Eliminations
Segment Reporting Information
Revenues	(8,477)	(27,560)
Intersegment Eliminations | Exploration and Production
Segment Reporting Information
Revenues	0	(11)
Intersegment Eliminations | Midstream Services
Segment Reporting Information
Revenues	(5,958)	(12,765)
Intersegment Eliminations | All Other
Segment Reporting Information
Revenues	$ (2,519)	$ (14,784)

Condensed Consolidating Finan68

Condensed Consolidating Financial Information - Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 694,042	$ 435,588	$ 11,821	$ 181,253
Accounts receivable, net	72,774	127,387
Intercompany accounts receivable	0	0
Derivative contracts	61,403	84,349
Prepaid expenses	10,427	6,833
Other current assets	15,239	19,931
Total current assets	853,885	674,088
Property, plant and equipment, net	1,703,021	2,234,702
Investment in subsidiaries	0	0
Other assets	17,153	13,237
Total assets	2,574,059	2,922,027	2,922,027
Current liabilities
Current maturities of long-term debt	3,981,371	0
Accounts payable and accrued expenses	263,665	428,417
Intercompany accounts payable	0	0
Derivative contracts	355	573
Asset retirement obligations	8,440	8,399
Total current liabilities	4,253,831	437,389
Investment in subsidiaries	0	0
Long-term debt	0	3,562,378
Asset retirement obligations	62,279	95,179
Other long-term obligations	11,147	14,814
Total liabilities	4,327,257	4,109,760
Equity (deficit)
SandRidge Energy, Inc. stockholders’ (deficit) equity	(1,753,177)	(1,697,917)
Noncontrolling interest	(21)	510,184
Total stockholders’ (deficit) equity	(1,753,198)	(1,187,733)
Total liabilities and stockholders’ (deficit) equity	2,574,059	2,922,027
Eliminations
Current assets
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	68	0
Intercompany accounts receivable	(2,627,145)	(2,563,250)
Derivative contracts	0	0
Prepaid expenses	0	0
Other current assets	0	0
Total current assets	(2,627,077)	(2,563,250)
Property, plant and equipment, net	0	0
Investment in subsidiaries	(2,807,981)	(2,758,045)
Other assets	(5,902)	(5,902)
Total assets	(5,440,960)	(5,327,197)
Current liabilities
Current maturities of long-term debt	0
Accounts payable and accrued expenses	68	0
Intercompany accounts payable	(2,627,145)	(2,563,250)
Derivative contracts	0	0
Asset retirement obligations	0	0
Total current liabilities	(2,627,077)	(2,563,250)
Investment in subsidiaries	(1,087,530)	(1,439,074)
Long-term debt	(5,902)	(5,902)
Asset retirement obligations	0	0
Other long-term obligations	0	0
Total liabilities	(3,720,509)	(4,008,226)
Equity (deficit)
SandRidge Energy, Inc. stockholders’ (deficit) equity	(1,720,430)	(1,829,155)
Noncontrolling interest	(21)	510,184
Total stockholders’ (deficit) equity	(1,720,451)	(1,318,971)
Total liabilities and stockholders’ (deficit) equity	(5,440,960)	(5,327,197)
Parent
Current assets
Cash and cash equivalents	669,978	426,917	6	170,468
Accounts receivable, net	2	0
Intercompany accounts receivable	1,340,776	1,226,994
Derivative contracts	0	0
Prepaid expenses	0	0
Other current assets	0	0
Total current assets	2,010,756	1,653,911
Property, plant and equipment, net	0	0
Investment in subsidiaries	2,774,926	2,749,514
Other assets	3,012	3,131
Total assets	4,788,694	4,406,556
Current liabilities
Current maturities of long-term debt	3,981,371
Accounts payable and accrued expenses	174,840	160,122
Intercompany accounts payable	1,299,686	1,337,688
Derivative contracts	0	0
Asset retirement obligations	0	0
Total current liabilities	5,455,897	1,497,810
Investment in subsidiaries	1,079,991	1,038,303
Long-term debt	5,902	3,568,280
Asset retirement obligations	0	0
Other long-term obligations	81	80
Total liabilities	6,541,871	6,104,473
Equity (deficit)
SandRidge Energy, Inc. stockholders’ (deficit) equity	(1,753,177)	(1,697,917)
Noncontrolling interest	0	0
Total stockholders’ (deficit) equity	(1,753,177)	(1,697,917)
Total liabilities and stockholders’ (deficit) equity	4,788,694	4,406,556
Guarantors
Current assets
Cash and cash equivalents	22,084	847	1,799	1,398
Accounts receivable, net	71,410	122,606
Intercompany accounts receivable	1,280,481	1,305,573
Derivative contracts	61,403	84,349
Prepaid expenses	10,421	6,826
Other current assets	15,239	19,931
Total current assets	1,461,038	1,540,132
Property, plant and equipment, net	1,654,610	2,124,532
Investment in subsidiaries	33,055	8,531
Other assets	20,043	16,008
Total assets	3,168,746	3,689,203
Current liabilities
Current maturities of long-term debt	0
Accounts payable and accrued expenses	87,778	265,767
Intercompany accounts payable	1,296,354	1,192,569
Derivative contracts	355	573
Asset retirement obligations	8,440	8,399
Total current liabilities	1,392,927	1,467,308
Investment in subsidiaries	7,539	400,771
Long-term debt	0	0
Asset retirement obligations	62,279	95,179
Other long-term obligations	11,066	14,734
Total liabilities	1,473,811	1,977,992
Equity (deficit)
SandRidge Energy, Inc. stockholders’ (deficit) equity	1,694,935	1,711,211
Noncontrolling interest	0	0
Total stockholders’ (deficit) equity	1,694,935	1,711,211
Total liabilities and stockholders’ (deficit) equity	3,168,746	3,689,203
Non-Guarantors
Current assets
Cash and cash equivalents	1,980	7,824	$ 10,016	$ 9,387
Accounts receivable, net	1,294	4,781
Intercompany accounts receivable	5,888	30,683
Derivative contracts	0	0
Prepaid expenses	6	7
Other current assets	0	0
Total current assets	9,168	43,295
Property, plant and equipment, net	48,411	110,170
Investment in subsidiaries	0	0
Other assets	0	0
Total assets	57,579	153,465
Current liabilities
Current maturities of long-term debt	0
Accounts payable and accrued expenses	979	2,528
Intercompany accounts payable	31,105	32,993
Derivative contracts	0	0
Asset retirement obligations	0	0
Total current liabilities	32,084	35,521
Investment in subsidiaries	0	0
Long-term debt	0	0
Asset retirement obligations	0	0
Other long-term obligations	0	0
Total liabilities	32,084	35,521
Equity (deficit)
SandRidge Energy, Inc. stockholders’ (deficit) equity	25,495	117,944
Noncontrolling interest	0	0
Total stockholders’ (deficit) equity	25,495	117,944
Total liabilities and stockholders’ (deficit) equity	$ 57,579	$ 153,465

Condensed Consolidating Finan69

Condensed Consolidating Financial Information - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Income Statements, Captions [Line Items]
Total revenues	$ 90,332	$ 215,308
Expenses
Direct operating expenses	54,342	114,946
General and administrative	74,278	36,149
Depreciation, depletion, amortization and accretion	40,749	120,534
Impairment	110,114	1,083,866
Gain on derivative contracts	(2,808)	(49,827)
Loss on settlement of contract	89,092	0
Gain on sale of assets	(1,880)	(1,904)
Total expenses	363,887	1,303,764
Loss from operations	(273,555)	(1,088,456)
Equity earnings from subsidiaries	0	0
Interest expense	(81,151)	(62,842)
Gain on extinguishment of debt	41,331	0
Other income (expense), net	153	(536)
Loss before income taxes	(313,222)	(1,151,834)
Income tax (benefit) expense	4	40
Net Loss	(313,226)	(1,151,874)
Less: net loss attributable to noncontrolling interest	0	(116,921)
Net loss attributable to SandRidge Energy, Inc.	(313,226)	(1,034,953)
Eliminations
Condensed Income Statements, Captions [Line Items]
Total revenues	0	(8)
Expenses
Direct operating expenses	0	(8)
General and administrative	0	0
Depreciation, depletion, amortization and accretion	0	0
Impairment	0	0
Gain on derivative contracts	0	0
Loss on settlement of contract	0
Gain on sale of assets	0	0
Total expenses	0	(8)
Loss from operations	0	0
Equity earnings from subsidiaries	277,416	1,021,692
Interest expense	0	0
Gain on extinguishment of debt	0
Other income (expense), net	0	0
Loss before income taxes	277,416	1,021,692
Income tax (benefit) expense	0	0
Net Loss	277,416	1,021,692
Less: net loss attributable to noncontrolling interest		(116,921)
Net loss attributable to SandRidge Energy, Inc.		1,138,613
Parent
Condensed Income Statements, Captions [Line Items]
Total revenues	0	0
Expenses
Direct operating expenses	0	0
General and administrative	50	56
Depreciation, depletion, amortization and accretion	0	0
Impairment	0	0
Gain on derivative contracts	0	0
Loss on settlement of contract	0
Gain on sale of assets	0	0
Total expenses	50	56
Loss from operations	(50)	(56)
Equity earnings from subsidiaries	(273,358)	(972,071)
Interest expense	(81,151)	(62,826)
Gain on extinguishment of debt	41,331
Other income (expense), net	0	0
Loss before income taxes	(313,228)	(1,034,953)
Income tax (benefit) expense	(2)	0
Net Loss	(313,226)	(1,034,953)
Less: net loss attributable to noncontrolling interest		0
Net loss attributable to SandRidge Energy, Inc.		(1,034,953)
Guarantors
Condensed Income Statements, Captions [Line Items]
Total revenues	86,665	192,520
Expenses
Direct operating expenses	53,461	112,117
General and administrative	73,788	35,219
Depreciation, depletion, amortization and accretion	39,745	109,853
Impairment	104,717	903,235
Gain on derivative contracts	(2,808)	(44,109)
Loss on settlement of contract	89,092
Gain on sale of assets	(1,880)	(1,900)
Total expenses	356,115	1,114,415
Loss from operations	(269,450)	(921,895)
Equity earnings from subsidiaries	(4,058)	(49,621)
Interest expense	0	(16)
Gain on extinguishment of debt	0
Other income (expense), net	150	(539)
Loss before income taxes	(273,358)	(972,071)
Income tax (benefit) expense	0	0
Net Loss	(273,358)	(972,071)
Less: net loss attributable to noncontrolling interest		0
Net loss attributable to SandRidge Energy, Inc.		(972,071)
Non-Guarantors
Condensed Income Statements, Captions [Line Items]
Total revenues	3,667	22,796
Expenses
Direct operating expenses	881	2,837
General and administrative	440	874
Depreciation, depletion, amortization and accretion	1,004	10,681
Impairment	5,397	180,631
Gain on derivative contracts	0	(5,718)
Loss on settlement of contract	0
Gain on sale of assets	0	(4)
Total expenses	7,722	189,301
Loss from operations	(4,055)	(166,505)
Equity earnings from subsidiaries	0	0
Interest expense	0	0
Gain on extinguishment of debt	0
Other income (expense), net	3	3
Loss before income taxes	(4,052)	(166,502)
Income tax (benefit) expense	6	40
Net Loss	$ (4,058)	(166,542)
Less: net loss attributable to noncontrolling interest		0
Net loss attributable to SandRidge Energy, Inc.		$ (166,542)

Condensed Consolidating Finan70

Condensed Consolidating Financial Information - Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Cash Flow Statements, Captions [Line Items]
Net cash used in operating activities	$ (162,644)	$ 90,095
Cash flows from investing activities
Capital expenditures for property, plant and equipment	(70,546)	(377,052)
Proceeds from sale of assets	3,172	2,755
Other	3,077	1,016
Net cash used in investing activities	(67,469)	(376,036)
Cash flows from financing activities
Proceeds from borrowings	488,900	420,000
Repayments of borrowings	0	(245,000)
Intercompany (advances) borrowings, net	0	0
Other	(333)	(58,491)
Net cash provided by financing activities	488,567	116,509
Net increase (decrease) in cash and cash equivalents	258,454	(169,432)
CASH AND CASH EQUIVALENTS, beginning of year	435,588	181,253
CASH AND CASH EQUIVALENTS, end of period	694,042	11,821
Eliminations
Condensed Cash Flow Statements, Captions [Line Items]
Net cash used in operating activities	0	22,794
Cash flows from investing activities
Capital expenditures for property, plant and equipment	0	0
Other	(3,484)	(4,267)
Net cash used in investing activities	(3,484)	(4,267)
Cash flows from financing activities
Proceeds from borrowings	0	0
Repayments of borrowings		0
Intercompany (advances) borrowings, net	0	0
Other	3,484	(18,527)
Net cash provided by financing activities	3,484	(18,527)
Net increase (decrease) in cash and cash equivalents	0	0
CASH AND CASH EQUIVALENTS, beginning of year	0	0
CASH AND CASH EQUIVALENTS, end of period	0	0
Impact of excluding noncontrolling interest distributions from other investing activities		(43,700)
Impact of excluding noncontrolling interest distributions from other financing activities		43,700
Parent
Condensed Cash Flow Statements, Captions [Line Items]
Net cash used in operating activities	(131,724)	(92,504)
Cash flows from investing activities
Capital expenditures for property, plant and equipment	0	0
Other	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities
Proceeds from borrowings	488,900	420,000
Repayments of borrowings		(245,000)
Intercompany (advances) borrowings, net	(113,782)	(238,183)
Other	(333)	(14,775)
Net cash provided by financing activities	374,785	(77,958)
Net increase (decrease) in cash and cash equivalents	243,061	(170,462)
CASH AND CASH EQUIVALENTS, beginning of year	426,917	170,468
CASH AND CASH EQUIVALENTS, end of period	669,978	6
Guarantors
Condensed Cash Flow Statements, Captions [Line Items]
Net cash used in operating activities	(28,388)	133,837
Cash flows from investing activities
Capital expenditures for property, plant and equipment	(70,546)	(377,052)
Other	6,561	5,279
Net cash used in investing activities	(63,985)	(371,773)
Cash flows from financing activities
Proceeds from borrowings	0	0
Repayments of borrowings		0
Intercompany (advances) borrowings, net	113,610	238,337
Other	0	0
Net cash provided by financing activities	113,610	238,337
Net increase (decrease) in cash and cash equivalents	21,237	401
CASH AND CASH EQUIVALENTS, beginning of year	847	1,398
CASH AND CASH EQUIVALENTS, end of period	22,084	1,799
Impact of excluding noncontrolling interest distributions from other investing activities		43,700
Impact of excluding noncontrolling interest distributions from other financing activities		(43,700)
Non-Guarantors
Condensed Cash Flow Statements, Captions [Line Items]
Net cash used in operating activities	(2,532)	25,968
Cash flows from investing activities
Capital expenditures for property, plant and equipment	0	0
Other	0	4
Net cash used in investing activities	0	4
Cash flows from financing activities
Proceeds from borrowings	0	0
Repayments of borrowings		0
Intercompany (advances) borrowings, net	172	(154)
Other	(3,484)	(25,189)
Net cash provided by financing activities	(3,312)	(25,343)
Net increase (decrease) in cash and cash equivalents	(5,844)	629
CASH AND CASH EQUIVALENTS, beginning of year	7,824	9,387
CASH AND CASH EQUIVALENTS, end of period	$ 1,980	$ 10,016

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	May. 11, 2016	Mar. 31, 2016	Mar. 31, 2015	May. 11, 2018	May. 11, 2017
Subsequent Event
Proceeds from borrowings		$ 488,900,000	$ 420,000,000
7.0% Convertible perpetual preferred stock
Subsequent Event
Preferred stock, dividend rate, percentage		7.00%
8.5% Convertible perpetual preferred stock
Subsequent Event
Preferred stock, dividend rate, percentage		8.50%
Senior credit facility
Subsequent Event
Maximum borrowing capacity		$ 1,000,000,000
Subsequent Event | Restructuring Support Agreement
Subsequent Event
Minimum equity valuation used for rights offering	$ 1,220,000,000
Minimum equity valuation used for rights offering, percent of total equity	90.00%
Rights Offering Period (Disclosure Statement Approval)	30 days
Rights Offering Period (Before Confirmation Date)	15 days
Rights offering period after filing	90 days
Employee Incentive Plan - Maximum ownership interest issuable (percentage)	10.00%
Restructuring contract termination period	225 days
Subsequent Event | Restructuring Support Agreement | New Common Stock
Subsequent Event
Stock to be issued under rights offering	$ 150,000,000
Subsequent Event | Restructuring Support Agreement | New Common Stock | Warrant [Member]
Subsequent Event
Maximum percent of stock callable by warrants issued	12.50%
Total equity value of warrants issued	$ 1,625,000,000
Volume-Weighted Average Price Period	30 days
Warrant expiration	6 years
Subsequent Event | Restructuring Support Agreement | 7.0% Convertible perpetual preferred stock
Subsequent Event
Preferred stock, dividend rate, percentage	7.00%
Subsequent Event | Restructuring Support Agreement | 8.5% Convertible perpetual preferred stock
Subsequent Event
Preferred stock, dividend rate, percentage	8.50%
Subsequent Event | Restructuring Support Agreement | Holders of Senior Secured Notes | New Common Stock
Subsequent Event
Percentage of stock to be issued	85.00%
Subsequent Event | Restructuring Support Agreement | Holders of Unsecured Claims
Subsequent Event
Cash payments for prepetition obligations	$ 10,000,000
Subsequent Event | Restructuring Support Agreement | Holders of Unsecured Claims | New Common Stock
Subsequent Event
Percentage of stock to be issued	15.00%
Subsequent Event | Restructuring Support Agreement | Senior credit facility
Subsequent Event
Percentage of debt holders party to reorganization agreement	98.00%
Repayments of debt	$ 40,000,000
Subsequent Event | Restructuring Support Agreement | Secured Notes
Subsequent Event
Percentage of debt holders party to reorganization agreement	79.00%
Subsequent Event | Restructuring Support Agreement | Secured Notes | New Building Note
Subsequent Event
Face amount of debt instrument	$ 35,000,000
Term of facility	5 years
Term of interest payments	46 months
Debt Instrument, Term of Interest Payments, Paid in Kind (after refinancing or repayment)	90 days
Subsequent Event | Restructuring Support Agreement | Secured Notes | New Building Note | Forecast
Subsequent Event
Annual interest rate	6.00%			10.00%	8.00%
Subsequent Event | Restructuring Support Agreement | Secured Notes | New Building Note | Holders of Unsecured Claims
Subsequent Event
Proceeds from borrowings	$ 20,000,000
Subsequent Event | Restructuring Support Agreement | Senior Unsecured Notes
Subsequent Event
Percentage of debt holders party to reorganization agreement	55.00%
Subsequent Event | Restructuring Support Agreement | Revolving Credit Facility | Holders of Senior Credit Facility
Subsequent Event
Cash payments for prepetition obligations	$ 35,000,000
Subsequent Event | Restructuring Support Agreement | Revolving Credit Facility | New Credit Facility
Subsequent Event
Maximum borrowing capacity	$ 425,000,000
Term of facility	40 months
Subsequent Event | Restructuring Support Agreement | Revolving Credit Facility | New Credit Facility | Proved Developed Producing Reserves
Subsequent Event
Percentage of assets pledged as security	95.00%
Subsequent Event | Restructuring Support Agreement | Revolving Credit Facility | New Credit Facility | Proved Reserves
Subsequent Event
Percentage of assets pledged as security	95.00%
Subsequent Event | Restructuring Support Agreement | Revolving Credit Facility | New Credit Facility | LIBOR
Subsequent Event
Basis spread on variable rate	4.75%
Variable rate floor	1.00%
Subsequent Event | Restructuring Support Agreement | Revolving Credit Facility | New Credit Facility | Holders of Senior Credit Facility
Subsequent Event
Face amount of debt instrument	$ 425,000,000
Subsequent Event | Restructuring Support Agreement | Convertible Debt | New Convertible Debt
Subsequent Event
Term of facility	4 years
Annual interest rate	15.00%
Subsequent Event | Restructuring Support Agreement | Convertible Debt | New Convertible Debt | New Common Stock
Subsequent Event
Percentage of stock receivable upon conversion	26.10%
Subsequent Event | Restructuring Support Agreement | Convertible Debt | New Convertible Debt | Holders of Senior Secured Notes
Subsequent Event
Face amount of debt instrument	$ 300,000,000