Concho Resources (CXO) 10-Q 3 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 01, 2016
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	CXO
Entity Registrant Name	CONCHO RESOURCES INC
Entity Central Index Key	1,358,071
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		131,799,601

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 481,230	$ 228,550
Accounts receivable, net of allowance for doubtful accounts:
Oil and natural gas	200,234	203,972
Joint operations and other	163,354	190,608
Derivative instruments	230,779	652,498
Prepaid costs and other	36,393	38,922
Total current assets	1,111,990	1,314,550
Property and equipment:
Oil and natural gas properties, successful efforts method	16,490,330	15,846,307
Accumulated depletion and depreciation	(7,107,852)	(5,047,810)
Total oil and natural gas properties, net	9,382,478	10,798,497
Other property and equipment, net	183,966	178,450
Total property and equipment, net	9,566,444	10,976,947
Deferred loan costs, net	13,247	15,585
Intangible asset - operating rights, net	24,963	25,693
Inventory	16,293	19,118
Noncurrent derivative instruments	0	167,038
Other assets	168,680	122,945
Total assets	10,901,617	12,641,876
Accounts payable:
Trade	20,172	13,200
Related parties	0	0
Revenue payable	109,204	169,787
Accrued and prepaid drilling costs	279,362	228,523
Derivative instruments	412	0
Other current liabilities	166,440	184,910
Total current liabilities	575,590	596,420
Long-term debt	3,333,532	3,332,188
Deferred income taxes	890,324	1,630,373
Noncurrent derivative instruments	54,362	0
Asset retirement obligations and other long-term liabilities	144,103	140,344
Commitments and contingencies (Note 10)
Stockholders' equity:
Common stock, $0.001 par value; 300,000,000 authorized; 132,240,074 and 129,444,042 shares issued at June 30, 2016 and December 31, 2015, respectively	132	129
Additional paid-in capital	4,887,420	4,628,390
Retained earnings	1,059,476	2,345,641
Treasury stock, at cost; 427,844 and 306,061 shares at June 30, 2016 and December 31, 2015, respectively	(43,322)	(31,609)
Total stockholders' equity	5,903,706	6,942,551
Total liabilities and stockholders' equity	$ 10,901,617	$ 12,641,876

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	132,240,074	129,444,042
Treasury shares	427,844	306,061

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating revenues:
Oil sales	$ 339,133	$ 470,890	$ 581,287	$ 820,474
Natural gas sales	57,166	66,535	98,576	130,473
Total operating revenues	396,299	537,425	679,863	950,947
Operating costs and expenses:
Oil and natural gas production	110,224	142,265	225,181	267,800
Exploration and abandonments	21,274	12,020	44,134	17,775
Depreciation, depletion and amortization	280,966	304,802	591,048	572,007
Accretion of discount on asset retirement obligations	1,745	2,047	3,457	4,041
Impairments of long-lived assets	0	0	1,524,645	0
General and administrative (including non-cash stock-based compensation of $12,451 and $15,450 for the three months ended June 30, 2016 and 2015, respectively, and $28,473 and $30,945 for the six months ended June 30, 2016 and 2015, respectively)	53,357	60,923	107,152	119,724
Loss on derivatives	296,694	147,399	216,852	32,059
(Gain) loss on disposition of assets, net	1,137	1,581	(109,929)	1,620
Total operating costs and expenses	765,397	671,037	2,602,540	1,015,026
Loss from operations	(369,098)	(133,612)	(1,922,677)	(64,079)
Other income (expense):
Interest expense	(54,502)	(53,482)	(108,640)	(107,051)
Other, net	(334)	(4,097)	(6,869)	(8,399)
Total other expense	(54,836)	(57,579)	(115,509)	(115,450)
Loss before income taxes	(423,934)	(191,191)	(2,038,186)	(179,529)
Income tax benefit	158,249	70,708	752,021	66,558
Net loss	$ (265,685)	$ (120,483)	$ (1,286,165)	$ (112,971)
Earnings per share:
Basic net loss	$ (2.04)	$ (1.02)	$ (9.94)	$ (0.97)
Diluted net loss	$ (2.04)	$ (1.02)	$ (9.94)	$ (0.97)

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Non-cash stock-based compensation	$ 12,451	$ 15,450	$ 28,473	$ 30,945

Consolidated Statement of Stock

Consolidated Statement of Stockholders Equity - 6 months ended Jun. 30, 2016 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]
BALANCE at Dec. 31, 2015	$ 6,942,551	$ 129	$ 4,628,390	$ 2,345,641	$ (31,609)
BALANCE, Shares at Dec. 31, 2015		129,444			306
Net loss	$ (1,286,165)	$ 0	0	(1,286,165)	$ 0
Common stock issued in business combination (Shares)	2,214	2,214			0
Common stock issued in business combination	$ 230,828	$ 2	230,826	0	$ 0
Stock options exercised	424	$ 1	423	0	$ 0
Options exercised		21			0
Grants of restricted stock, shares		428			0
Performance unit share conversion		180			0
Cancellation of restricted stock, shares		(47)			0
Stock-based compensation	28,473	$ 0	28,473	0	$ 0
Tax deficiency related to stock-based compensation	(692)	0	(692)	0	0
Purchase of treasury stock	(11,713)	$ 0	0	0	$ (11,713)
Purchase of treasury stock, shares		0			122
BALANCE at Jun. 30, 2016	$ 5,903,706	$ 132	$ 4,887,420	$ 1,059,476	$ (43,322)
BALANCE, Shares at Jun. 30, 2016		132,240			428

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,286,165)	$ (112,971)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	591,048	572,007
Accretion of discount on asset retirement obligations	3,457	4,041
Impairments of long-lived assets	1,524,645	0
Exploration and abandonments, including dry holes	38,550	12,352
Non-cash stock-based compensation expense	28,473	30,945
Deferred income taxes	(740,049)	(95,268)
(Gain) loss on disposition of assets, net	(109,929)	1,620
Loss on derivatives	216,852	32,059
Other non-cash items	8,832	5,298
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	59,723	55,870
Prepaid costs and other	(7,886)	(2,098)
Inventory	2,508	(1,935)
Accounts payable	6,956	23,339
Revenue payable	(58,980)	(35,556)
Other current liabilities	(28,210)	(769)
Net cash provided by operating activities	249,825	488,934
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures on oil and natural gas properties	(650,889)	(1,492,547)
Additions to property, equipment and other assets	(15,795)	(26,146)
Proceeds from the disposition of assets	294,341	96
Contributions to equity method investments	(39,500)	(45,000)
Net settlements received from derivatives	426,679	279,408
Net cash provided by (used in) investing activities	14,836	(1,284,189)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of debt	0	1,097,400
Payments of debt	0	(1,030,900)
Exercise of stock options	424	58
Excess tax benefit (deficiency) from stock-based compensation	(692)	2,221
Net proceeds from issuance of common stock	0	741,509
Purchase of treasury stock	(11,713)	(4,403)
Decrease in bank overdrafts	0	(10,371)
Net cash provided by (used in) financing activities	(11,981)	795,514
Net increase in cash and cash equivalents	252,680	259
Cash and cash equivalents at beginning of period	228,550	21
Cash and cash equivalents at end of period	481,230	280
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common stock for a business combination	$ 230,828	$ 0

Organization and nature of oper

Organization and nature of operations	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and nature of operations	Note 1 . Organization and nature of operations Concho Resources Inc. ( the “Company” ) is a Delaware corporation formed on February 22, 2006. The Company’s principal business is the acquisition, development , exploration and production of oil and natural gas properties primarily loc ated in the Permian Basin of Southeast New Mexico and West Texas.

Summary of significant accounti

Summary of significant accounting policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of significant accounting policies	Note 2 . Summary of significant accounting policies Principles of consolidation. The consolidated financial statements of the Company include the account s of the Company and its 100 percent owned subsidiaries. The Company consolidates the financial statements of these entities. All material intercompany balances and transactions have been eliminated. Reclassifications. Certain prior period amounts have been reclassified to conform to the 2016 presentation. These reclassifications had no impact on net loss , total stockholders’ equity or cash flows. Use of estimates in the preparation of financial statements. Preparation of financial statements in conformity with generally accepted accounting principles in the United States of Ameri ca requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expens es during the reporting periods. Actual results could differ from these estimates. Depletion of oil and natural gas propertie s is determined using estimates of proved oil and natural gas reserves. There are numerous uncertainties inherent in the estimation of quantities of proved reserves and in the projection of future rates of production and the timing of development expenditures. Similarly, evaluations for impairment of proved and unproved oil and natural gas properties are subject to numerous uncertaint ies including, among others, estimates of future recoverable reserves , commodity price outlooks and prevailing market rates of other sources of income and costs . Other significant estimates inclu de, but are not limited to, asset retirement obligations, fai r value of deriva tive financial instruments, fair value of business combinations , fair value of nonmonetary exchanges, fair value of stock-based compensation and income taxes . Interim financial statements. The accompanying consolidated financial statements of the Company have not been audited by the Company’s independent registered public accounting firm, except that the consolidated balance sheet at December 31, 2015 is derived from audited consolidated financial statements. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments necessary to present fairly the Company’s consolidated financial statements . All such adjustments are of a normal , recurring nature. In preparing the accompa nying consolidated financial statements, management has made certain estimates and assumptions that affect reported amounts in the consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The resul ts for interim periods are not necessarily indicative of annual results. Certain disclosures have been condensed in or omitted from these consolidated financial statements. Accordingly, these condensed notes to the consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . Equity method investments. The Company owns a 50 percent member ship interest in a midstream joint venture , Alpha Crude Connector, LLC (“ACC”), that construct ed a crude oil gathering and transportation system in the northern Delaware Basin. ACC commenced partial operations in late 2015 an d completed construction of the pipeline in April 2016. The Company has the option to purchase the membership interest of the other investor in ACC. This purchase option became exercisable in July 2016 and remains exerc isable for a period of twelve months. The Company accounts for its investment in ACC under the equity method of accounting for investment s in unconsolidated affiliates. The Company’s net investment in ACC was approximately $ 129.0 million and $ 98.9 million at June 30, 2016 and December 31, 2015 , respectively, and is included in other assets in the Company’s consolidated balance sheets. The equity loss for the six months ended June 30, 2016 and 2015 was approximately $ 1.9 million and $ 1.7 million, respectively, and is included in other expense in the Company’s consolidated statements of operations. During the six months ended June 30, 2015 , the Company recorded $ 1.5 mil lion of capitalized interest on its investment in ACC. During 2015, the Company purchased a 25 percent membership interest in an entity constructing a crude oil gathering and transportation system in the southern Delaware Basin. The system is p artially operational and is expected to be completed during 2016. The Company accounts for its investment under the equity method of accounting for investments in unconsolidated affiliates. The Company’s net investment was approximately $ 26.0 million and $ 20.8 million at June 30, 2016 and December 31, 2015 , respectively, and is included in other assets in the Company’s consolidated balance sheet s . The equity loss for the six months ended June 30, 2016 was approximately $ 2.3 million and is included in other expense in the Company’s consolidated statements of operations. Revenue recognition. Oil and natural gas revenues are recorded at the time of physical transfer of such products to the purchaser, which for the Company is primarily at the wellhead. The Company follows the sales method of accounting for oil and natural gas sales, recognizing revenues based on the Company’s actual proceeds from the oil and natural gas sold to purchasers. General and administrative expense . The Company receives fees for the operation of jointly-owned oil and natural gas properties and records such reimbursemen ts as reductions of general and administrative expense. Such fees totaled approximately $ 6.0 million and $ 6.4 million for the three months ended June 30, 2016 and 2015 , respectively , and $ 12.5 million and $ 12.7 million for the six months ended June 30, 2016 and 2015 , respectively . Recent accounting pronouncements. In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which outlines a new, 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. This new revenue recognition model provides a five-step analysis in determining when and how revenue is recognized. The new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” which deferred the effective date of ASU 2014-09 by one year. That new standard is now effective for annual reporting periods beginning after December 15, 2017. An entity can apply ASU 2014-09 using either a full retrospective method, meaning the s tandard is applied to all of the periods presented, or a modified retrospective method, meaning the cumulative effect of initially applying the standard is recognized in the most current period presented in the financial statements. The Company is evaluati ng the impact that this new guidance will have on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which supersedes current lease guidance. The new lease standard requires all leases with a te rm greater than one year to be recognized on the balance sheet while maintaining substantially similar classifications for finance and operating leases. Lease expense recognition on the income statement will be effectively unchanged. This guidance is effec tive for reporting periods beginning after December 15, 2018 and early adoption is permitted. The Company is evaluating the impact that this new guidance will have on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, “ Compensation–Stock Compensations (Topic 718): Improvements to Employee Share-based Payment Accounting,” which changes the accounting and presentation for share-based payment arrangements in the following areas: ( i ) r ecognition in the statement of operation s of exces s tax benefits and deficiencies; (ii) cash flow presentation of exces s tax benefits and deficiencies; (iii) minimum statutory withholding thresholds and the classification on the cash flow statement of the withheld amounts; and (iv) an accounting policy election to recognize forfeitures as they occur. This guidance is effective for reporting periods beginning after December 15, 2016 and early adoption is permitted. The Company is evaluating the impact that this new guidance will have on its consol idated financial statements.

Exploratory well costs

Exploratory well costs	6 Months Ended
	Jun. 30, 2016
Disclosure Exploratory Well Costs Capitalized Exploratory Well Activity [Abstract]
Exploratory well costs	Note 3 . Exploratory well costs The Company capitalizes exploratory well costs until a determination is made that the well has either found proved reserves or that it is impaired. After an exploratory well has been completed and found oil and natural gas reserves, a determination may be pending as to whether the oil and natural reserves can be classified as proved. In those circumstances, the Company continues to capitalize the well or project costs pending the determination of proved status if ( i ) the well has found a sufficient quantity of reserves to justify its completion as a producing well and (ii) the Company is making sufficient progress assessing the reserves and the economi c and operating viability of the project. The capitalized exploratory well costs are carried in unproved oil and natural gas properties. See Note 16 for the proved and unproved components of oil and natural gas properties. If the exploratory well is determi ned to be impaired, the well costs are charged to exploration and abandonments expense in the consolidated statements of operations. The following table reflects the Company’s net capitalized exploratory well activity during the six months ended June 30, 2016 : Six Months Ended (in thousands) June 30, 2016 Beginning capitalized exploratory well costs $ 116,198 Additions to exploratory well costs pending the determination of proved reserves 103,499 Reclassifications due to determination of proved reserves (80,227) Exploratory well costs charged to expense (5,707) Disposition of wells (17,339) Ending capitalized exploratory well costs $ 116,424 The following table provides an aging at June 30, 2016 and December 31, 2015 of capitalized exploratory well costs based on the date drilling was completed: June 30, December 31, (dollars in thousands) 2016 2015 Capitalized exploratory well costs that have been capitalized for a period of one year or less $ 111,545 $ 98,764 Capitalized exploratory well costs that have been capitalized for a period greater than one year 4,879 17,434 Total capitalized exploratory well costs $ 116,424 $ 116,198 Number of projects with exploratory well costs that have been capitalized for a period greater than one year 6 8 Projects operated by others. At June 30, 2016 , the Company had approximately $ 4.6 million of suspended well costs greater than one year recorded for five wells that are operated by others and waiting on completion. Two of these wells, with suspended well costs totaling approximately $3. 1 million, completed drilling in 2012 and are expe cted to be completed in 2016. The remaining three wells completed drilling in 2014 and are waiting on completion. Texas Permian project . At June 30, 2016 , the Company had approximately $ 0 . 3 million of suspended well costs greater than one year recorded for a well that was initially drilled to monitor nearby pad wells and is expected to be completed in 2016. These costs became greater than one year old during the three months ended March 31, 2016 .

Acquisitions and divestitures

Acquisitions and divestitures	6 Months Ended
	Jun. 30, 2016
Acquisitions and Divestitures [Abstract]
Acquisitions and divestitures	Note 4 . Acquisitions and divestitures Asset acquisition. In March 2016, the Company completed an acquisition of 80 percent of a third-party seller’s interest in certain oil and natural gas properties and related assets in the southern Delaware Basin. As consideration for the acquisition, the Company issue d to the seller approximately 2.2 million shares of common stock with an approximate valu e of $230.8 million , $ 146.2 million in cash and $40.0 million to carry a portion of the seller’s future development costs in these properties. Asset divestiture. In February 2016, the Company sold certain assets in the northern Delaware Basin for proceed s of approximately $ 292 .0 million and recognized a pre-tax gain of approximately $110 .1 million.

Asset retirement obligations

Asset retirement obligations	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations	Note 5 . Asset retirement obligations The Company ’ s asset retirement obligations primarily relate to the future plugging and abandonment of wells and facilities. The followi ng table summarizes the Company ’ s asset retirement obligation activity during the six months ended June 30, 2016 : Six Months Ended (in thousands) June 30, 2016 Asset retirement obligations, beginning of period $ 119,945 Liabilities incurred from new wells 1,004 Liabilities assumed in acquisitions 902 Accretion expense 3,457 Disposition of wells (970) Liabilities settled upon plugging and abandoning wells (899) Asset retirement obligations, end of period $ 123,439

Incentive plans

Incentive plans	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Incentive plans	Note 6 . Stock incentive plan The Company’s 20 15 Stock Incentive Plan provides for granting stock options, restricted stock awards and performance awards to directors, officers and employees of the Company. A summary of the Company’s activity for the six months ended June 30, 2016 is presented below: Restricted Stock Performance Stock Options Units Outstanding at December 31, 2015 1,199,647 42,901 315,755 Awards granted (a) 427,804 - 161,361 Options exercised - (20,776) - Awards cancelled / forfeited (46,642) - (9,285) Lapse of restrictions (378,215) - - Outstanding at June 30, 2016 1,202,594 22,125 467,831 (a) Weighted average grant date fair value per share $ 111.63 $ - $ 114.81 The following table reflects the future stock-based compensation expense to be recorded for all the stock-based compensation awards that were outsta nding at June 30, 2016 : (in thousands) Remaining 2016 $ 33,986 2017 44,894 2018 22,267 2019 4,922 2020 152 Total $ 106,221

Disclosures about fair value me

Disclosures about fair value measurements	6 Months Ended
	Jun. 30, 2016
Disclosure Fair Value Narrative [Abstract]
Disclosures about fair value measurements	Note 7 . Disclosures about fair value measurements The Company uses a valuation framework based upon inputs that market participants use in pricing an asset or liability, which are classified into two categories: observable inputs and unobservable inputs. Observable inputs represent market data obtained from independent sources, whereas unobservable inputs reflect a company’s own market assumptions, which are used if observable inputs are not reasonably available without undue cost and effort. These two types of inputs are further prioritized into the following fair value input hierarchy: Level 1 : Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. The Company considers active markets to be those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. 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. This category includes those derivative instruments that the Company values using observable market data. Substantially all of these inputs are observable in the marketplace throughout the full term of the derivative instrument, can be derived from observable data, or supported by observable levels at which transactions are executed in the marketplace. Level 2 instruments primarily include non-ex change traded derivatives such as over-the-counter commodity price swaps, basis swaps, collars and floors, investments and interest rate swaps. The Company’s valuation models are primarily industry-standard models that consider various inputs including: ( i ) quoted forward prices f or commodities, (ii) time value, (iii) current market and contractual prices for the underlying instruments and (iv) volatility factors, as well as other relevant economic measures. Level 3 : Prices or valuation models that require inputs that are both significant to the fair value measurement and less observable from objective sources ( i.e. , supported by little or no market activity). The Company’s valuation models are primarily industry-standard models that cons ider various inputs including: ( i ) quoted forward prices for commodities, (ii) time value, (iii) volatility factors and (iv) current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Financial Assets and Liabilities Measured at Fair Value The following table presents the carrying amounts and fair values of the Company’s financial instruments at June 30, 2016 and December 31, 2015 : June 30, 2016 December 31, 2015 Carrying Fair Carrying Fair (in thousands) Value Value Value Value Assets: Derivative instruments $ 230,779 $ 230,779 $ 819,536 $ 819,536 Liabilities: Derivative instruments $ 54,774 $ 54,774 $ - $ - $600 million 7.0% senior notes due 2021 (a) $ 593,048 $ 621,720 $ 592,414 $ 595,500 $600 million 6.5% senior notes due 2022 (a) $ 592,125 $ 614,280 $ 591,549 $ 579,000 $600 million 5.5% senior notes due 2022 (a) $ 593,337 $ 603,000 $ 592,899 $ 553,500 $1,550 million 5.5% senior notes due 2023 (a) $ 1,555,022 $ 1,577,576 $ 1,555,326 $ 1,453,005 (a) The carrying value includes associated deferred loan costs and any premium. Cash and cash equivalents, accounts receivable, other current assets, accounts payable, interest payable and other current liabilities. The carrying amounts approximate fair value due to the short maturity of these instruments. Senior notes. The fair values of the Company’s senior notes are based on quoted market prices. The debt securities are not actively traded and, therefore, are classified as Level 2 in the fair value hierarchy. Derivative instruments. The fair value of the Company’s derivative instruments is estimated by management considering various factors, including closing exchange and over-the-counter quotations and the time value of the underlying commitments. Financial assets and liabilities 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 and may affect th e valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The following table s summarize ( i ) the valuation of each of the Company’s financial instruments by required fair value hierarchy levels and (ii) the gross fair value by the appropriate balance sheet classification, even when the derivative instruments are subject to netting arrangements and qualify for net presentation in the Company’s consolidated balance sheets at June 30, 2016 and December 31, 2015 . The Company nets the fair value of derivative instruments by counterparty in the Company’s consolidated balance sheets. June 30, 2016 Fair Value Measurements Using Net Quoted Prices Gross Fair Value in Active Significant Amounts Presented Markets for Other Significant Offset in the in the Identical Observable Unobservable Consolidated Consolidated Assets Inputs Inputs Total Balance Balance (in thousands) (Level 1) (Level 2) (Level 3) Fair Value Sheet Sheet Assets: Current: Commodity derivatives $ - $ 265,181 $ - $ 265,181 $ (34,402) $ 230,779 Noncurrent: Commodity derivatives - 12,762 - 12,762 (12,762) - Liabilities: Current: Commodity derivatives - (34,814) - (34,814) 34,402 (412) Noncurrent: Commodity derivatives - (67,124) - (67,124) 12,762 (54,362) Net derivative instruments $ - $ 176,005 $ - $ 176,005 $ - $ 176,005 December 31, 2015 Fair Value Measurements Using Net Quoted Prices Gross Fair Value in Active Significant Amounts Presented Markets for Other Significant Offset in the in the Identical Observable Unobservable Consolidated Consolidated Assets Inputs Inputs Total Balance Balance (in thousands) (Level 1) (Level 2) (Level 3) Fair Value Sheet Sheet Assets: Current: Commodity derivatives $ - $ 684,029 $ - $ 684,029 $ (31,531) $ 652,498 Noncurrent: Commodity derivatives - 175,267 - 175,267 (8,229) 167,038 Liabilities: Current: Commodity derivatives - (31,531) - (31,531) 31,531 - Noncurrent: Commodity derivatives - (8,229) - (8,229) 8,229 - Net derivative instruments $ - $ 819,536 $ - $ 819,536 $ - $ 819,536 Concentrations of credit risk. At June 30, 2016 , the Company’s primary concentrations of credit risk are the risk of collecting accounts receivable and the risk of counterparties’ failure to perform under derivative obligations. The Company has entered into International Swap Dealers Association Master Agreements (“ISDA Agreements”) with each of its derivative counterparties. The terms of the ISDA Agreements provide the Company and the co unterparties with rights of set- off upon the occurrence of defined acts of default by either the Company or a counterparty to a derivative, whereby the party not in default may set off all derivative liabilities owed to the defaulting party against all derivative asset receivables from the defaulting party. See No te 8 for additional information regarding the Company ’ s derivative activities and counterparties . Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain assets and liabilities are reported at fair value on a nonrecurring basis in the Company’ s consolidated balance sheets. The following methods and assumptions were used to estimate the fair values: Impairments of long-lived assets – The Company periodically reviews its long-lived assets to be held and used, including proved oil and natural gas properties and their integrated assets, whenever events or circumstances indica te that the carrying value of those assets may not be recoverable, for instance when there are declines in commodity prices or well performance. The Company reviews its oil and natural gas properties by depletion base. An impairment loss is indicated if th e sum of the expected undiscounted future net cash flows is less than the carrying amount of the assets. If the estimated undiscounted future net cash flows are less than the carrying amount of the Company’s assets, it recognizes an impairment loss for the amount by which the carrying amount of the asset exceeds the estimated fair value of the asset. The Company calculates the expected undiscounted future net cash flows of its long-lived assets and their integrated assets using management’s assumptions and expectations of ( i ) commodity prices, which are based on the New York Mercantile Exchange (“NYMEX”) strip, (ii) pricing adjustments for differentials, (iii) production costs, (iv) capital expenditures, (v) production volumes, (vi) estimated proved reserve s and risk-adjusted probable and possible reserves, and (vii) prevailing market rates of income and ex penses from integrated assets. At June 30, 2016 , the Company’s estimates of commodity prices for purposes of determining undiscounted future cash flow s, which are based on the NYMEX strip, ranged from a 2016 price of $49.54 per barrel of oil and $3.04 per Mcf of natural gas to a 2023 price of $57.77 per barrel of oil and $3.50 per Mcf of natural gas. Commodity prices for this purpose were held flat afte r 2023. The Company calculates the estimated fair values of its long-lived assets and their integrated assets using a discounted future cash flow model. Fair value assumptions associated with the calculation of discounted future net cash flows include ( i ) market estimates of commodity prices, (ii) pricing adjustments for differentials, (iii) production costs, (iv) capital expenditures, (v) production volumes, (vi) estimated proved reserves and risk-adjusted probable and possible reserves, (vii) prevailing market rates of income and expenses from integrated assets and (viii) discount rate. The expected future net cash flows were discounted using an annual rate of 10 percent to determine fair value . These are classified as Level 3 fair value assumptions. Dur ing the three months ended March 31, 2016, NYMEX strip prices declined as compared to December 31, 2015, and as a result the carrying amount of the Company’s Yeso field of approximately $3.4 billion exceeded the expected undiscounted future net cash flows resulting in a non-cash charge against earnings of approximately $1.5 billion. The non-cash charge represented the amount by which the carrying amount exceeded the estimated fair value of the assets. The following table reports the carrying amount, estimated fair value and impairment expense of long-lived assets for the indicated period : Estimated Carrying Fair Value Impairment (in thousands) Amount (Level 3) Expense March 2016 $ 3,437,612 $ 1,912,967 $ 1,524,645 It is reasonably possible that the estimate of undiscounted future net cash flows of the Company’s long-lived assets may change in the future resulting in the need to impair carrying values. The primary factors that may affect estimates of futu re cash flows are ( i ) commodity prices including differentials , (ii) increases or decreases in production and capital costs , (iii) future reserve volume adjustments, both positive and negative, to proved reserves and appropriate risk-adjusted probable and possible reserves , (iv) results of f ut ure drilling activities and (v) changes in income and expenses from integrated assets.

Derivative financial instrument

Derivative financial instruments	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative financial instruments	Note 8 . Derivative financial instruments The Company uses derivative financial instruments to manage its exposure to commodity price fluctuations. Commodity derivative instruments are used to ( i ) reduce the effect of the volatility of price changes on the oil and natural gas the Company produces and sells, (ii) support the Company’s capital budget and expenditure plans and (iii) support the economics associated with acquisitions. The Company does not enter into derivative financial instrument s for speculative or trading purposes. The Company may also enter into physical delivery contracts to effectively provide commodity price hedges. Because these physical delivery contracts are not expected to be net cash settled, they are considered to be n ormal sales contracts and not derivatives. Therefore, these contracts are not recorded in the Company’s consolidated financial statements. T he Company does not designate its derivative instruments to qualify for hedge accounting. Accordingly, the Company reflects changes in the fair value of its derivative instruments in its statements of operations as they occur. The following table summarizes the amounts reported in earnings related to the commodity derivative i nstruments for the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Gain (loss) on derivatives: Oil derivatives $ (279,805) $ (146,549) $ (208,665) $ (36,269) Natural gas derivatives (16,889) (850) (8,187) 4,210 Total $ (296,694) $ (147,399) $ (216,852) $ (32,059) The following table represents the Company’s net cash receipts from derivatives for the three and six months ended June 30, 2016 and 2015: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Net cash receipts from derivatives: Oil derivatives $ 160,968 $ 103,129 $ 412,095 $ 263,315 Natural gas derivatives 7,781 9,123 14,584 16,093 Total $ 168,749 $ 112,252 $ 426,679 $ 279,408 Commodity derivative contracts at June 30, 2016 . The following table sets forth the Company’s outstanding derivative contracts at June 30, 2016 . When aggregating multiple contracts, the weighted average contract price is disclosed. All of the Company’s derivative contracts at June 30, 2016 are expected to settle by December 31, 2018 . First Second Third Fourth Quarter Quarter Quarter Quarter Total Oil Swaps: (a) 2016: Volume (Bbl) 5,460,000 5,054,000 10,514,000 Price per Bbl $ 74.21 $ 59.38 $ 67.08 2017: Volume (Bbl) 5,278,000 4,903,000 4,592,000 4,337,000 19,110,000 Price per Bbl $ 58.73 $ 59.35 $ 51.04 $ 51.33 $ 55.36 2018: Volume (Bbl) 1,920,000 1,920,000 1,920,000 1,920,000 7,680,000 Price per Bbl $ 48.73 $ 48.73 $ 48.73 $ 48.73 $ 48.73 Oil Basis Swaps: (b) 2016: Volume (Bbl) 5,520,000 5,060,000 10,580,000 Price per Bbl $ (1.46) $ (1.48) $ (1.47) 2017: Volume (Bbl) 4,590,000 4,519,000 3,496,000 3,496,000 16,101,000 Price per Bbl $ (1.16) $ (1.18) $ (0.43) $ (0.43) $ (0.85) Natural Gas Swaps: (c) 2016: Volume (MMBtu) 7,360,000 7,360,000 14,720,000 Price per MMBtu $ 3.02 $ 3.02 $ 3.02 2017: Volume (MMBtu) 10,350,000 10,465,000 9,660,000 9,660,000 40,135,000 Price per MMBtu $ 3.00 $ 3.00 $ 3.00 $ 3.00 $ 3.00 (a) The index prices for the oil price swaps are based on the NYMEX – West Texas Intermediate (“WTI”) monthly average futures price. (b) The basis differential price is between Midland – WTI and Cushing – WTI. (c) The index prices for the natural gas price swaps are based on the NYMEX – Henry Hub last trading day futures price. Derivative counterparties. The Company uses credit and other financial criteria to evaluate the credit worthiness of counterparties to its derivative instruments. The Company believes that all of its derivative counterparties are currently acceptable credit risks. Other than provided by the Company’s revolving credit facility, the Company is not required to provide credit support or collateral to any counterparties under its derivative contracts, nor are they required to provide credit support to the C ompany. At June 30, 2016 , the Company had a net asset position of $ 176.0 million as a result of outstanding derivative contracts which are reflected in the accompanying consolidated balance sheets. The Company assessed this balance for concentration risk and noted balances of approximately $40.3 million , $26.9 million, $21.0 million and $19.7 million with Barclays Bank PLC, J.P. Morgan Chase Bank, Wells Fargo Bank, N.A. and Societe Generale , respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	Note 9 . Debt The Company’s debt consisted of the following at June 30, 2016 and December 31, 2015 : June 30, December 31, (in thousands) 2016 2015 Credit facility $ - $ - 7.0% unsecured senior notes due 2021 600,000 600,000 6.5% unsecured senior notes due 2022 600,000 600,000 5.5% unsecured senior notes due 2022 600,000 600,000 5.5% unsecured senior notes due 2023 1,550,000 1,550,000 Unamortized original issue premium 23,642 25,073 Senior notes issuance costs, net (40,110) (42,885) Less: current portion - - Total long-term debt $ 3,333,532 $ 3,332,188 Credit facility. The Company’s credit facility , as amended and restated, has a maturity date of May 9, 2019 . At June 30, 2016 , the Company’s commitments from its bank group were $2.5 billion. The Company expects it will maintain its $2.5 billion in commitments until its next scheduled redetermination in May 2017. At June 30, 2016 , the Company’s borrowing base was $2.8 billion . Senior notes. Interest on the Company’s senior notes is paid in arrears semi-annually. The senior notes are fully and unconditionall y guaranteed on a senior unsecured basis by all subsidiaries of the Company, subject to customary release provisions as described in Note 14 . At June 30, 2016 , the C ompany was in compliance with the covenants under all of its debt instruments . Principal maturities of long-term debt. Principal maturities of long -term debt outstanding at June 30, 2016 were as follows: (in thousands) Remaining 2016 $ - 2017 - 2018 - 2019 - 2020 - 2021 600,000 Thereafter 2,750,000 Total $ 3,350,000 Interest expense. The following amounts have been incurred and charged to interest expense for the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Cash payments for interest $ 63,017 $ 59,225 $ 105,507 $ 105,232 Amortization of original issue premium (720) (681) (1,431) (1,355) Amortization of deferred loan origination costs 2,567 2,482 5,113 4,945 Accretion expense 485 - 971 - Net changes in accruals (10,847) (6,365) (1,268) 618 Interest costs incurred 54,502 54,661 108,892 109,440 Less: capitalized interest - (1,179) (252) (2,389) Total interest expense $ 54,502 $ 53,482 $ 108,640 $ 107,051

Commitments and contingencies

Commitments and contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 10 . Commitments and contingencies Legal actions . The Company is a party to proceedings and clai ms incidental to its business. While many of these matters involve inherent uncertainty, the Company believes that the amount of the liability, if any, ultimately incurred with respect to any such proceedings or cl aims will not have a material adverse effect on the Company’s consolidated financial position as a whole or on its liquidity, capital resources or future results of operations. The Company will continue to evaluate proceedings and claims involving the Comp any on a regular basis and will establish and adjust any reserves as appropriate to reflect its assessment of the then current status of the matters. Severance tax, royalty and joint interest audits . The Company is subject to routine severance, royalty and joint interest audits from regulatory bodies and non-operators and makes accruals as necessary for estimated exposure when deemed probable and estimable. Additionally, the Company is subject to various possible contingencies that arise primarily from i nterpretations affecting the oil and natural gas industry. Such contingencies include differing interpretations as to the prices at which oil and natural gas sales may be made, the prices at which royalty owners may be paid for production from their leases , allowable costs under joint interest arrangements and other matters. At June 30, 2016 and December 31, 2015 , the Company had $ 13.8 million and $ 13.4 million , respectively, accrued for estimated exposure. Although the Company beli eve s that it has estimated its exposure with respect to the various laws and regulations, administrative rulings and interpretations thereof, adjustments could be required as new interpretations and regulations are issued. C ommitments. The Company periodically enters into contractual arrangements under which the Company is committed to expend funds . These contractual arrangements r elate to purchase agreements the Company has entered into including drilling commitments , water commitment agreements, through put volume delivery commitments, power commitments and maintenance commitments . The following table s ummarizes the Company’s commitments at June 30, 2016 : (in thousands) Remaining 2016 $ 29,573 2017 24,186 2018 63,057 2019 17,294 2020 11,797 2021 7,317 Thereafter 37,921 Total $ 191,145 Operating leases. The Company leases vehicles, equipment and office facilities under non-cancellable operating leases. Lease payments associated with these operating leases for the three months ended June 30, 2016 and 2015 were approximately $ 2.1 million and $ 1.9 million, respectively , and approximately $ 4.2 million and $ 3.8 million for the six months ended June 30, 2016 and 2015 , respectively . Future minimum lease commitments under non-cancellable operating leases at June 30, 2016 were as follows: (in thousands) Remaining 2016 $ 4,231 2017 8,458 2018 7,637 2019 6,169 2020 4,866 2021 4,147 Thereafter 994 Total $ 36,502

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income taxes	Note 11 . Income taxes The effective income tax rate s w ere 37.3 percent and 37.0 percent for the three months ended June 30, 2016 and 2015 , respectively , and 36.9 percent and 37.1 percent for the six months ended June 30, 2016 and 2015 , respectively . Total income tax benefit for the three and six months ended June 30, 2016 and 2015 differed from amounts computed by applying the United States federal statutory tax rates to pre-tax loss due primarily to state taxes and the impact of permanent differences between book and taxable income.

Related party transactions

Related party transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related party transactions	Note 12 . Related party transactions The following table summarize s amounts paid to and received from related parties and reported in the Company’s consolidated statements of operations for the periods presented: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Amounts paid to a partnership in which a director has an ownership interest (a) $ 999 $ 1,403 $ 2,144 $ 3,097 Amounts paid to a director and certain officers of the Company (b) $ 75 $ 32 $ 235 $ 555 Amounts received from certain officers of the Company (c) $ 4 $ 52 $ 20 $ 67 (a) Amounts include royalties on certain properties paid to a partnership in which a director of the Company is the general partner and owns a 3.5 percent partnership interest. (b) Amounts include revenue interests, overriding royalty interests and net profits interests in properties owned by the Company made to a director and certain officers (or affiliated entities). Amounts also include payments for lease bonuses to an affiliated entity of an officer. (c) Amounts include payments to the Company as a result of activity on oil and na tural gas properties in which certain officers (or affiliated entities) have an interest.

Net income per share

Net income per share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Net income per share	Note 13 . Net loss per share The Company uses the two-class method of calculating net loss per share because certain of the Company’s unvested share-based awards qualify as participating securities. The following table reconcile s the Company’s net loss from operations and loss attributable to common stockholders to the basic and diluted earnings used to determine the Company’s net loss per share amounts for the three and six months ended June 30, 2016 and 2015 , respectively, under the two-class method: Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share amounts) 2016 2015 2016 2015 Net loss as reported $ (265,685) $ (120,483) $ (1,286,165) $ (112,971) Participating basic earnings (a) - - - - Basic loss attributable to common stockholders (265,685) (120,483) (1,286,165) (112,971) Reallocation of participating earnings - - - - Diluted loss attributable to common stockholders $ (265,685) $ (120,483) $ (1,286,165) $ (112,971) Loss per common share: Basic $ (2.04) $ (1.02) $ (9.94) $ (0.97) Diluted $ (2.04) $ (1.02) $ (9.94) $ (0.97) (a) Unvested restricted stock awards represent participating securities because they participate in nonforfeitable dividends or distributions with the common equity holders of the Company. Participating earnings represent the distributed earnings of the Company attributable to the participating securities. Unvested restricted stock awards do not participate in undistributed net losses as they are not contractually obligated to do so. The following table is a reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding for the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Weighted average common shares outstanding: Basic 130,400 117,637 129,398 116,502 Dilutive common stock options - - - - Dilutive performance units - - - - Diluted 130,400 117,637 129,398 116,502 Performance unit awards. The number of shares of common stock that will ultimately be issued for performance units will be determined by a combination of ( i ) comparing the Company’s total shareholder return relative to the total shareholder return of a predetermined group of peer companies at the end of the performance period and (ii) the Company’s absolute total shareholder return at the end of the performance period. The performance period is 36 months. The actual payout of shares will be between zero and 300 percent .

Subsidiary guarantors

Subsidiary guarantors	6 Months Ended
	Jun. 30, 2016
Guarantees [Abstract]
Subsidiary guarantors	Note 14 . Subsidiary guarantors All of the Company’s 100 percent owned subsidiaries have fully and unconditionally guaranteed the Company’s senior notes. The indentures governing the Company’s senior notes provide that the guarantees of its subsidiary guarantors will be released in certain customary circumstances including ( i ) in connection with any sale, exchange or other disposition, whether by merger, consolidation or otherwise, of the capital stock of that guarantor to a person that is no t the Company or a restricted subsidiary of the Company, such that, after giving effect to such transaction, such guarantor would no longer constitute a subsidiary of the Company, (ii) in connection with any sale, exchange or other disposition (other than a lease) of all or substantially all of the assets of that guarantor to a person that is not the Company or a restricted subsidiary of the Company, (iii) upon the merger of a guarantor into the Company or any other guarantor or the liquidation or dissoluti on of a guarantor, (iv) if the Company designates any restricted subsidiary that is a guarantor to be an unrestricted subsidiary in accordance with the indenture, (v) upon legal defeasance or satisfaction and discharge of the indenture and (vi) upon writte n notice of such release or discharge by the Company to the trustee following the release or discharge of all guarantees by such guarantor of any indebtedness that resulted in the creation of such guarantee, except a discharge or release by or as a result of payment under such guarantee. See Note 9 for a summary of the Company’s senior notes. In accordance with practices accepted by the United States Securities and Exchange Commission (“SEC”), the Company has prepared condensed consolidating finan cial statements in order to quantify the assets, results of operations and cash flows of such subsidiaries as subsidiary guarantors. The following condensed consolidating balance s heets at June 30, 2016 and December 31, 2015 , condensed c o nsolidating statements of o perations for the three and six months ended June 30, 2016 and 2015 and condensed consolidating statements of cash flows for the six months ended June 30, 2016 and 2015 , present financial information fo r Conch o Resources Inc. as the p arent on a stand-alone basis (carrying any investments in subsidiaries under the equity method), financial information for the subsidiary guarantors on a stand-alone basis and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis. All current and deferred income taxes are recorded on Concho Resources Inc., as the subsidiaries are flow-through entities for income tax purp oses. The subsidiary guarantors are not restric ted from making distributions to the Company. Condensed Consolidating Balance Sheet June 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total ASSETS Accounts receivable - related parties $ 8,853,785 $ 898,972 $ (9,752,757) $ - Other current assets 284,704 827,286 - 1,111,990 Oil and natural gas properties, net - 9,382,478 - 9,382,478 Property and equipment, net - 183,966 - 183,966 Investment in subsidiaries 1,985,134 - (1,985,134) - Other long-term assets 25,418 197,765 - 223,183 Total assets $ 11,149,041 $ 11,490,467 $ (11,737,891) $ 10,901,617 LIABILITIES AND EQUITY Accounts payable - related parties $ 898,972 $ 8,853,785 $ (9,752,757) $ - Other current liabilities 68,145 507,445 - 575,590 Long-term debt 3,333,532 - - 3,333,532 Other long-term liabilities 944,686 144,103 - 1,088,789 Equity 5,903,706 1,985,134 (1,985,134) 5,903,706 Total liabilities and equity $ 11,149,041 $ 11,490,467 $ (11,737,891) $ 10,901,617 Condensed Consolidating Balance Sheet December 31, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total ASSETS Accounts receivable - related parties $ 8,502,099 $ 1,162,297 $ (9,664,396) $ - Other current assets 753,716 560,834 - 1,314,550 Oil and natural gas properties, net - 10,798,497 - 10,798,497 Property and equipment, net - 178,450 - 178,450 Investment in subsidiaries 3,698,485 - (3,698,485) - Other long-term assets 182,623 167,756 - 350,379 Total assets $ 13,136,923 $ 12,867,834 $ (13,362,881) $ 12,641,876 LIABILITIES AND EQUITY Accounts payable - related parties $ 1,162,297 $ 8,502,099 $ (9,664,396) $ - Other current liabilities 69,514 526,906 - 596,420 Long-term debt 3,332,188 - - 3,332,188 Other long-term liabilities 1,630,373 140,344 - 1,770,717 Equity 6,942,551 3,698,485 (3,698,485) 6,942,551 Total liabilities and equity $ 13,136,923 $ 12,867,834 $ (13,362,881) $ 12,641,876 Condensed Consolidating Statement of Operations Three Months Ended June 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 396,299 $ - $ 396,299 Total operating costs and expenses (297,205) (468,192) - (765,397) Loss from operations (297,205) (71,893) - (369,098) Interest expense (53,655) (847) - (54,502) Other, net (73,074) (334) 73,074 (334) Loss before income taxes (423,934) (73,074) 73,074 (423,934) Income tax benefit 158,249 - - 158,249 Net loss $ (265,685) $ (73,074) $ 73,074 $ (265,685) Condensed Consolidating Statement of Operations Three Months Ended June 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 537,425 $ - $ 537,425 Total operating costs and expenses (148,039) (522,998) - (671,037) Income (loss) from operations (148,039) 14,427 - (133,612) Interest expense (53,482) - - (53,482) Other, net 10,330 (4,097) (10,330) (4,097) Income (loss) before income taxes (191,191) 10,330 (10,330) (191,191) Income tax benefit 70,708 - - 70,708 Net income (loss) $ (120,483) $ 10,330 $ (10,330) $ (120,483) Condensed Consolidating Statement of Operations Six Months Ended June 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 679,863 $ - $ 679,863 Total operating costs and expenses (217,889) (2,384,651) - (2,602,540) Loss from operations (217,889) (1,704,788) - (1,922,677) Interest expense (106,946) (1,694) - (108,640) Other, net (1,713,351) (6,869) 1,713,351 (6,869) Loss before income taxes (2,038,186) (1,713,351) 1,713,351 (2,038,186) Income tax benefit 752,021 - - 752,021 Net loss $ (1,286,165) $ (1,713,351) $ 1,713,351 $ (1,286,165) Condensed Consolidating Statement of Operations Six Months Ended June 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 950,947 $ - $ 950,947 Total operating costs and expenses (33,435) (981,591) - (1,015,026) Loss from operations (33,435) (30,644) - (64,079) Interest expense (107,051) - - (107,051) Other, net (39,043) (8,399) 39,043 (8,399) Loss before income taxes (179,529) (39,043) 39,043 (179,529) Income tax benefit 66,558 - - 66,558 Net loss $ (112,971) $ (39,043) $ 39,043 $ (112,971) Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Net cash flows provided by (used in) operating activities $ (414,698) $ 664,523 $ - $ 249,825 Net cash flows provided by (used in) investing activities 426,679 (411,843) - 14,836 Net cash flows used in financing activities (11,981) - - (11,981) Net increase in cash and cash equivalents - 252,680 - 252,680 Cash and cash equivalents at beginning of period - 228,550 - 228,550 Cash and cash equivalents at end of period $ - $ 481,230 $ - $ 481,230 Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Net cash flows provided by (used in) operating activities $ (1,085,293) $ 1,574,227 $ - $ 488,934 Net cash flows provided by (used in) investing activities 279,408 (1,563,597) - (1,284,189) Net cash flows provided by (used in) financing activities 805,885 (10,371) - 795,514 Net increase in cash and cash equivalents - 259 - 259 Cash and cash equivalents at beginning of period - 21 - 21 Cash and cash equivalents at end of period $ - $ 280 $ - $ 280

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent events	Note 15 . Subsequent event New commodity derivative contracts. After June 30, 2016 , the Com pany entered into the following oil price swaps, oil basis swaps and natural gas price swaps to hedge additional amounts of the Company’s estimated future production: First Second Third Fourth Quarter Quarter Quarter Quarter Total Oil Swaps: (a) 2018: Volume (Bbl) 390,000 390,000 390,000 390,000 1,560,000 Price per Bbl $ 49.24 $ 49.24 $ 49.24 $ 49.24 $ 49.24 Oil Basis Swaps: (b) 2017: Volume (Bbl) 360,000 364,000 368,000 368,000 1,460,000 Price per Bbl $ (0.50) $ (0.50) $ (0.50) $ (0.50) $ (0.50) Natural Gas Swaps: (c) 2017: Volume (MMBtu) 1,985,315 1,066,642 1,110,441 920,000 5,082,398 Price per MMBtu $ 3.21 $ 3.16 $ 3.16 $ 3.14 $ 3.18 (a) The index prices for the oil price swaps are based on the NYMEX – WTI monthly average futures price. (b) The basis differential price is between Midland – WTI and Cushing – WTI. (c) The index prices for the natural gas price swaps are based on the NYMEX – Henry Hub last trading day futures price.

Supplementary information

Supplementary information	6 Months Ended
	Jun. 30, 2016
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Supplementary information	Note 16 . Supplementary information Capitalized costs June 30, December 31, (in thousands) 2016 2015 Oil and natural gas properties: Proved $ 15,559,042 $ 14,940,259 Unproved 931,288 906,048 Less: accumulated depletion (7,107,852) (5,047,810) Net capitalized costs for oil and natural gas properties $ 9,382,478 $ 10,798,497 Costs incurred for oil and natural gas producing activities Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Property acquisition costs: Proved $ 3,757 $ 2,243 $ 256,109 $ 2,243 Unproved 18,767 18,037 157,407 34,050 Exploration 165,850 343,051 336,422 772,220 Development 107,039 221,410 190,143 523,154 Total costs incurred for oil and natural gas properties $ 295,413 $ 584,741 $ 940,081 $ 1,331,667 The table below provides the amount of asset retirement obligations included in the costs incurred table shown above: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Exploration costs $ 352 $ 737 $ 583 $ 1,355 Development costs 192 573 421 1,508 Total asset retirement obligations $ 544 $ 1,310 $ 1,004 $ 2,863

Summary of significant accoun24

Summary of significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation. The consolidated financial statements of the Company include the account s of the Company and its 100 percent owned subsidiaries. The Company consolidates the financial statements of these entities. All material intercompany balances and transactions have been eliminated.
Reclassification	Reclassifications. Certain prior period amounts have been reclassified to conform to the 2016 presentation. These reclassifications had no impact on net loss , total stockholders’ equity or cash flows.
Use of estimates in the preparation of financial statements	Use of estimates in the preparation of financial statements. Preparation of financial statements in conformity with generally accepted accounting principles in the United States of Ameri ca requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expens es during the reporting periods. Actual results could differ from these estimates. Depletion of oil and natural gas propertie s is determined using estimates of proved oil and natural gas reserves. There are numerous uncertainties inherent in the estimation of quantities of proved reserves and in the projection of future rates of production and the timing of development expenditures. Similarly, evaluations for impairment of proved and unproved oil and natural gas properties are subject to numerous uncertaint ies including, among others, estimates of future recoverable reserves , commodity price outlooks and prevailing market rates of other sources of income and costs . Other significant estimates inclu de, but are not limited to, asset retirement obligations, fai r value of deriva tive financial instruments, fair value of business combinations , fair value of nonmonetary exchanges, fair value of stock-based compensation and income taxes .
Interim financial statements	Interim financial statements. The accompanying consolidated financial statements of the Company have not been audited by the Company’s independent registered public accounting firm, except that the consolidated balance sheet at December 31, 2015 is derived from audited consolidated financial statements. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments necessary to present fairly the Company’s consolidated financial statements . All such adjustments are of a normal , recurring nature. In preparing the accompa nying consolidated financial statements, management has made certain estimates and assumptions that affect reported amounts in the consolidated financial statements and disclosures of contingencies. Actual results may differ from those estimates. The resul ts for interim periods are not necessarily indicative of annual results. Certain disclosures have been condensed in or omitted from these consolidated financial statements. Accordingly, these condensed notes to the consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 .
Equity method investments	Equity method investments. The Company owns a 50 percent member ship interest in a midstream joint venture , Alpha Crude Connector, LLC (“ACC”), that construct ed a crude oil gathering and transportation system in the northern Delaware Basin. ACC commenced partial operations in late 2015 an d completed construction of the pipeline in April 2016. The Company has the option to purchase the membership interest of the other investor in ACC. This purchase option became exercisable in July 2016 and remains exerc isable for a period of twelve months. The Company accounts for its investment in ACC under the equity method of accounting for investment s in unconsolidated affiliates. The Company’s net investment in ACC was approximately $ 129.0 million and $ 98.9 million at June 30, 2016 and December 31, 2015 , respectively, and is included in other assets in the Company’s consolidated balance sheets. The equity loss for the six months ended June 30, 2016 and 2015 was approximately $ 1.9 million and $ 1.7 million, respectively, and is included in other expense in the Company’s consolidated statements of operations. During the six months ended June 30, 2015 , the Company recorded $ 1.5 mil lion of capitalized interest on its investment in ACC. During 2015, the Company purchased a 25 percent membership interest in an entity constructing a crude oil gathering and transportation system in the southern Delaware Basin. The system is p artially operational and is expected to be completed during 2016. The Company accounts for its investment under the equity method of accounting for investments in unconsolidated affiliates. The Company’s net investment was approximately $ 26.0 million and $ 20.8 million at June 30, 2016 and December 31, 2015 , respectively, and is included in other assets in the Company’s consolidated balance sheet s . The equity loss for the six months ended June 30, 2016 was approximately $ 2.3 million and is included in other expense in the Company’s consolidated statements of operations.
Revenue recognition	Revenue recognition. Oil and natural gas revenues are recorded at the time of physical transfer of such products to the purchaser, which for the Company is primarily at the wellhead. The Company follows the sales method of accounting for oil and natural gas sales, recognizing revenues based on the Company’s actual proceeds from the oil and natural gas sold to purchasers.
General and administrative expense	General and administrative expense . The Company receives fees for the operation of jointly-owned oil and natural gas properties and records such reimbursemen ts as reductions of general and administrative expense. Such fees totaled approximately $ 6.0 million and $ 6.4 million for the three months ended June 30, 2016 and 2015 , respectively , and $ 12.5 million and $ 12.7 million for the six months ended June 30, 2016 and 2015 , respectively .
Recent accounting pronouncements	Recent accounting pronouncements. In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which outlines a new, 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. This new revenue recognition model provides a five-step analysis in determining when and how revenue is recognized. The new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” which deferred the effective date of ASU 2014-09 by one year. That new standard is now effective for annual reporting periods beginning after December 15, 2017. An entity can apply ASU 2014-09 using either a full retrospective method, meaning the s tandard is applied to all of the periods presented, or a modified retrospective method, meaning the cumulative effect of initially applying the standard is recognized in the most current period presented in the financial statements. The Company is evaluati ng the impact that this new guidance will have on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which supersedes current lease guidance. The new lease standard requires all leases with a te rm greater than one year to be recognized on the balance sheet while maintaining substantially similar classifications for finance and operating leases. Lease expense recognition on the income statement will be effectively unchanged. This guidance is effec tive for reporting periods beginning after December 15, 2018 and early adoption is permitted. The Company is evaluating the impact that this new guidance will have on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, “ Compensation–Stock Compensations (Topic 718): Improvements to Employee Share-based Payment Accounting,” which changes the accounting and presentation for share-based payment arrangements in the following areas: ( i ) r ecognition in the statement of operation s of exces s tax benefits and deficiencies; (ii) cash flow presentation of exces s tax benefits and deficiencies; (iii) minimum statutory withholding thresholds and the classification on the cash flow statement of the withheld amounts; and (iv) an accounting policy election to recognize forfeitures as they occur. This guidance is effective for reporting periods beginning after December 15, 2016 and early adoption is permitted. The Company is evaluating the impact that this new guidance will have on its consol idated financial statements.

Exploratory well costs (Tables)

Exploratory well costs (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure Exploratory Well Costs Capitalized Exploratory Well Activity [Abstract]
Company's capitalized exploratory well activity	The following table reflects the Company’s net capitalized exploratory well activity during the six months ended June 30, 2016 : Six Months Ended (in thousands) June 30, 2016 Beginning capitalized exploratory well costs $ 116,198 Additions to exploratory well costs pending the determination of proved reserves 103,499 Reclassifications due to determination of proved reserves (80,227) Exploratory well costs charged to expense (5,707) Disposition of wells (17,339) Ending capitalized exploratory well costs $ 116,424
Aging of capitalized exploratory well costs based on the date drilling was completed	The following table provides an aging at June 30, 2016 and December 31, 2015 of capitalized exploratory well costs based on the date drilling was completed: June 30, December 31, (dollars in thousands) 2016 2015 Capitalized exploratory well costs that have been capitalized for a period of one year or less $ 111,545 $ 98,764 Capitalized exploratory well costs that have been capitalized for a period greater than one year 4,879 17,434 Total capitalized exploratory well costs $ 116,424 $ 116,198 Number of projects with exploratory well costs that have been capitalized for a period greater than one year 6 8

Asset retirement obligations (T

Asset retirement obligations (Tables)	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations	The followi ng table summarizes the Company ’ s asset retirement obligation activity during the six months ended June 30, 2016 : Six Months Ended (in thousands) June 30, 2016 Asset retirement obligations, beginning of period $ 119,945 Liabilities incurred from new wells 1,004 Liabilities assumed in acquisitions 902 Accretion expense 3,457 Disposition of wells (970) Liabilities settled upon plugging and abandoning wells (899) Asset retirement obligations, end of period $ 123,439

Incentive plans (Tables)

Incentive plans (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of the Company's stock awards activity	A summary of the Company’s activity for the six months ended June 30, 2016 is presented below: Restricted Stock Performance Stock Options Units Outstanding at December 31, 2015 1,199,647 42,901 315,755 Awards granted (a) 427,804 - 161,361 Options exercised - (20,776) - Awards cancelled / forfeited (46,642) - (9,285) Lapse of restrictions (378,215) - - Outstanding at June 30, 2016 1,202,594 22,125 467,831 (a) Weighted average grant date fair value per share $ 111.63 $ - $ 114.81
Future stock-based compensation expense to be recorded for all the stock-based compensation awards that were outstanding	The following table reflects the future stock-based compensation expense to be recorded for all the stock-based compensation awards that were outsta nding at June 30, 2016 : (in thousands) Remaining 2016 $ 33,986 2017 44,894 2018 22,267 2019 4,922 2020 152 Total $ 106,221

Disclosures about fair value 28

Disclosures about fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure Fair Value Narrative [Abstract]
Carrying amounts and fair values of the Company's financial instruments	The following table presents the carrying amounts and fair values of the Company’s financial instruments at June 30, 2016 and December 31, 2015 : June 30, 2016 December 31, 2015 Carrying Fair Carrying Fair (in thousands) Value Value Value Value Assets: Derivative instruments $ 230,779 $ 230,779 $ 819,536 $ 819,536 Liabilities: Derivative instruments $ 54,774 $ 54,774 $ - $ - $600 million 7.0% senior notes due 2021 (a) $ 593,048 $ 621,720 $ 592,414 $ 595,500 $600 million 6.5% senior notes due 2022 (a) $ 592,125 $ 614,280 $ 591,549 $ 579,000 $600 million 5.5% senior notes due 2022 (a) $ 593,337 $ 603,000 $ 592,899 $ 553,500 $1,550 million 5.5% senior notes due 2023 (a) $ 1,555,022 $ 1,577,576 $ 1,555,326 $ 1,453,005 (a) The carrying value includes associated deferred loan costs and any premium.
Net basis derivative fair values as reported in the consolidated balance sheets	The following table s summarize ( i ) the valuation of each of the Company’s financial instruments by required fair value hierarchy levels and (ii) the gross fair value by the appropriate balance sheet classification, even when the derivative instruments are subject to netting arrangements and qualify for net presentation in the Company’s consolidated balance sheets at June 30, 2016 and December 31, 2015 . The Company nets the fair value of derivative instruments by counterparty in the Company’s consolidated balance sheets. June 30, 2016 Fair Value Measurements Using Net Quoted Prices Gross Fair Value in Active Significant Amounts Presented Markets for Other Significant Offset in the in the Identical Observable Unobservable Consolidated Consolidated Assets Inputs Inputs Total Balance Balance (in thousands) (Level 1) (Level 2) (Level 3) Fair Value Sheet Sheet Assets: Current: Commodity derivatives $ - $ 265,181 $ - $ 265,181 $ (34,402) $ 230,779 Noncurrent: Commodity derivatives - 12,762 - 12,762 (12,762) - Liabilities: Current: Commodity derivatives - (34,814) - (34,814) 34,402 (412) Noncurrent: Commodity derivatives - (67,124) - (67,124) 12,762 (54,362) Net derivative instruments $ - $ 176,005 $ - $ 176,005 $ - $ 176,005 December 31, 2015 Fair Value Measurements Using Net Quoted Prices Gross Fair Value in Active Significant Amounts Presented Markets for Other Significant Offset in the in the Identical Observable Unobservable Consolidated Consolidated Assets Inputs Inputs Total Balance Balance (in thousands) (Level 1) (Level 2) (Level 3) Fair Value Sheet Sheet Assets: Current: Commodity derivatives $ - $ 684,029 $ - $ 684,029 $ (31,531) $ 652,498 Noncurrent: Commodity derivatives - 175,267 - 175,267 (8,229) 167,038 Liabilities: Current: Commodity derivatives - (31,531) - (31,531) 31,531 - Noncurrent: Commodity derivatives - (8,229) - (8,229) 8,229 - Net derivative instruments $ - $ 819,536 $ - $ 819,536 $ - $ 819,536
Carrying amounts, estimated fair values and impairment expense of long-lived assets	The following table reports the carrying amount, estimated fair value and impairment expense of long-lived assets for the indicated period : Estimated Carrying Fair Value Impairment (in thousands) Amount (Level 3) Expense March 2016 $ 3,437,612 $ 1,912,967 $ 1,524,645

Derivative financial instrume29

Derivative financial instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summarizes the gains and losses reported in earnings related to the commodity and interest rate derivative instruments	The following table summarizes the amounts reported in earnings related to the commodity derivative i nstruments for the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Gain (loss) on derivatives: Oil derivatives $ (279,805) $ (146,549) $ (208,665) $ (36,269) Natural gas derivatives (16,889) (850) (8,187) 4,210 Total $ (296,694) $ (147,399) $ (216,852) $ (32,059) The following table represents the Company’s net cash receipts from derivatives for the three and six months ended June 30, 2016 and 2015: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Net cash receipts from derivatives: Oil derivatives $ 160,968 $ 103,129 $ 412,095 $ 263,315 Natural gas derivatives 7,781 9,123 14,584 16,093 Total $ 168,749 $ 112,252 $ 426,679 $ 279,408
Company's outstanding derivative contracts	The following table sets forth the Company’s outstanding derivative contracts at June 30, 2016 . When aggregating multiple contracts, the weighted average contract price is disclosed. All of the Company’s derivative contracts at June 30, 2016 are expected to settle by December 31, 2018 . First Second Third Fourth Quarter Quarter Quarter Quarter Total Oil Swaps: (a) 2016: Volume (Bbl) 5,460,000 5,054,000 10,514,000 Price per Bbl $ 74.21 $ 59.38 $ 67.08 2017: Volume (Bbl) 5,278,000 4,903,000 4,592,000 4,337,000 19,110,000 Price per Bbl $ 58.73 $ 59.35 $ 51.04 $ 51.33 $ 55.36 2018: Volume (Bbl) 1,920,000 1,920,000 1,920,000 1,920,000 7,680,000 Price per Bbl $ 48.73 $ 48.73 $ 48.73 $ 48.73 $ 48.73 Oil Basis Swaps: (b) 2016: Volume (Bbl) 5,520,000 5,060,000 10,580,000 Price per Bbl $ (1.46) $ (1.48) $ (1.47) 2017: Volume (Bbl) 4,590,000 4,519,000 3,496,000 3,496,000 16,101,000 Price per Bbl $ (1.16) $ (1.18) $ (0.43) $ (0.43) $ (0.85) Natural Gas Swaps: (c) 2016: Volume (MMBtu) 7,360,000 7,360,000 14,720,000 Price per MMBtu $ 3.02 $ 3.02 $ 3.02 2017: Volume (MMBtu) 10,350,000 10,465,000 9,660,000 9,660,000 40,135,000 Price per MMBtu $ 3.00 $ 3.00 $ 3.00 $ 3.00 $ 3.00 (a) The index prices for the oil price swaps are based on the NYMEX – West Texas Intermediate (“WTI”) monthly average futures price. (b) The basis differential price is between Midland – WTI and Cushing – WTI. (c) The index prices for the natural gas price swaps are based on the NYMEX – Henry Hub last trading day futures price.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Company's debt	The Company’s debt consisted of the following at June 30, 2016 and December 31, 2015 : June 30, December 31, (in thousands) 2016 2015 Credit facility $ - $ - 7.0% unsecured senior notes due 2021 600,000 600,000 6.5% unsecured senior notes due 2022 600,000 600,000 5.5% unsecured senior notes due 2022 600,000 600,000 5.5% unsecured senior notes due 2023 1,550,000 1,550,000 Unamortized original issue premium 23,642 25,073 Senior notes issuance costs, net (40,110) (42,885) Less: current portion - - Total long-term debt $ 3,333,532 $ 3,332,188
Principal maturities of debt	Principal maturities of long -term debt outstanding at June 30, 2016 were as follows: (in thousands) Remaining 2016 $ - 2017 - 2018 - 2019 - 2020 - 2021 600,000 Thereafter 2,750,000 Total $ 3,350,000
Interest expense	The following amounts have been incurred and charged to interest expense for the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Cash payments for interest $ 63,017 $ 59,225 $ 105,507 $ 105,232 Amortization of original issue premium (720) (681) (1,431) (1,355) Amortization of deferred loan origination costs 2,567 2,482 5,113 4,945 Accretion expense 485 - 971 - Net changes in accruals (10,847) (6,365) (1,268) 618 Interest costs incurred 54,502 54,661 108,892 109,440 Less: capitalized interest - (1,179) (252) (2,389) Total interest expense $ 54,502 $ 53,482 $ 108,640 $ 107,051

Commitments and contingencies (

Commitments and contingencies (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Summary of the Company's future commitments	The following table s ummarizes the Company’s commitments at June 30, 2016 : (in thousands) Remaining 2016 $ 29,573 2017 24,186 2018 63,057 2019 17,294 2020 11,797 2021 7,317 Thereafter 37,921 Total $ 191,145
Future minimum lease commitments under non-cancellable operating leases	Future minimum lease commitments under non-cancellable operating leases at June 30, 2016 were as follows: (in thousands) Remaining 2016 $ 4,231 2017 8,458 2018 7,637 2019 6,169 2020 4,866 2021 4,147 Thereafter 994 Total $ 36,502

Related party transactions (Tab

Related party transactions (Tables)	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Summary of charges incurred with and payments made to the Company's related parties and reported in the consolidated statements of operations	The following table summarize s amounts paid to and received from related parties and reported in the Company’s consolidated statements of operations for the periods presented: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Amounts paid to a partnership in which a director has an ownership interest (a) $ 999 $ 1,403 $ 2,144 $ 3,097 Amounts paid to a director and certain officers of the Company (b) $ 75 $ 32 $ 235 $ 555 Amounts received from certain officers of the Company (c) $ 4 $ 52 $ 20 $ 67 (a) Amounts include royalties on certain properties paid to a partnership in which a director of the Company is the general partner and owns a 3.5 percent partnership interest. (b) Amounts include revenue interests, overriding royalty interests and net profits interests in properties owned by the Company made to a director and certain officers (or affiliated entities). Amounts also include payments for lease bonuses to an affiliated entity of an officer. (c) Amounts include payments to the Company as a result of activity on oil and na tural gas properties in which certain officers (or affiliated entities) have an interest.

Net income per share (Tables)

Net income per share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Reconciliation of earnings attributable to common shares, basic and diluted	The following table reconcile s the Company’s net loss from operations and loss attributable to common stockholders to the basic and diluted earnings used to determine the Company’s net loss per share amounts for the three and six months ended June 30, 2016 and 2015 , respectively, under the two-class method: Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share amounts) 2016 2015 2016 2015 Net loss as reported $ (265,685) $ (120,483) $ (1,286,165) $ (112,971) Participating basic earnings (a) - - - - Basic loss attributable to common stockholders (265,685) (120,483) (1,286,165) (112,971) Reallocation of participating earnings - - - - Diluted loss attributable to common stockholders $ (265,685) $ (120,483) $ (1,286,165) $ (112,971) Loss per common share: Basic $ (2.04) $ (1.02) $ (9.94) $ (0.97) Diluted $ (2.04) $ (1.02) $ (9.94) $ (0.97) (a) Unvested restricted stock awards represent participating securities because they participate in nonforfeitable dividends or distributions with the common equity holders of the Company. Participating earnings represent the distributed earnings of the Company attributable to the participating securities. Unvested restricted stock awards do not participate in undistributed net losses as they are not contractually obligated to do so.
reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding	The following table is a reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding for the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Weighted average common shares outstanding: Basic 130,400 117,637 129,398 116,502 Dilutive common stock options - - - - Dilutive performance units - - - - Diluted 130,400 117,637 129,398 116,502

Subsidiary guarantors (Tables)

Subsidiary guarantors (Tables)	6 Months Ended
	Jun. 30, 2016
Guarantees [Abstract]
Condensed Consolidating Balance Sheet	The following condensed consolidating balance s heets at June 30, 2016 and December 31, 2015 , condensed c o nsolidating statements of o perations for the three and six months ended June 30, 2016 and 2015 and condensed consolidating statements of cash flows for the six months ended June 30, 2016 and 2015 , present financial information fo r Conch o Resources Inc. as the p arent on a stand-alone basis (carrying any investments in subsidiaries under the equity method), financial information for the subsidiary guarantors on a stand-alone basis and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis. All current and deferred income taxes are recorded on Concho Resources Inc., as the subsidiaries are flow-through entities for income tax purp oses. The subsidiary guarantors are not restric ted from making distributions to the Company. Condensed Consolidating Balance Sheet June 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total ASSETS Accounts receivable - related parties $ 8,853,785 $ 898,972 $ (9,752,757) $ - Other current assets 284,704 827,286 - 1,111,990 Oil and natural gas properties, net - 9,382,478 - 9,382,478 Property and equipment, net - 183,966 - 183,966 Investment in subsidiaries 1,985,134 - (1,985,134) - Other long-term assets 25,418 197,765 - 223,183 Total assets $ 11,149,041 $ 11,490,467 $ (11,737,891) $ 10,901,617 LIABILITIES AND EQUITY Accounts payable - related parties $ 898,972 $ 8,853,785 $ (9,752,757) $ - Other current liabilities 68,145 507,445 - 575,590 Long-term debt 3,333,532 - - 3,333,532 Other long-term liabilities 944,686 144,103 - 1,088,789 Equity 5,903,706 1,985,134 (1,985,134) 5,903,706 Total liabilities and equity $ 11,149,041 $ 11,490,467 $ (11,737,891) $ 10,901,617 Condensed Consolidating Balance Sheet December 31, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total ASSETS Accounts receivable - related parties $ 8,502,099 $ 1,162,297 $ (9,664,396) $ - Other current assets 753,716 560,834 - 1,314,550 Oil and natural gas properties, net - 10,798,497 - 10,798,497 Property and equipment, net - 178,450 - 178,450 Investment in subsidiaries 3,698,485 - (3,698,485) - Other long-term assets 182,623 167,756 - 350,379 Total assets $ 13,136,923 $ 12,867,834 $ (13,362,881) $ 12,641,876 LIABILITIES AND EQUITY Accounts payable - related parties $ 1,162,297 $ 8,502,099 $ (9,664,396) $ - Other current liabilities 69,514 526,906 - 596,420 Long-term debt 3,332,188 - - 3,332,188 Other long-term liabilities 1,630,373 140,344 - 1,770,717 Equity 6,942,551 3,698,485 (3,698,485) 6,942,551 Total liabilities and equity $ 13,136,923 $ 12,867,834 $ (13,362,881) $ 12,641,876
Condensed Consolidating Statement of Operations	The following condensed consolidating balance s heets at June 30, 2016 and December 31, 2015 , condensed c o nsolidating statements of o perations for the three and six months ended June 30, 2016 and 2015 and condensed consolidating statements of cash flows for the six months ended June 30, 2016 and 2015 , present financial information fo r Conch o Resources Inc. as the p arent on a stand-alone basis (carrying any investments in subsidiaries under the equity method), financial information for the subsidiary guarantors on a stand-alone basis and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis. All current and deferred income taxes are recorded on Concho Resources Inc., as the subsidiaries are flow-through entities for income tax purp oses. The subsidiary guarantors are not restric ted from making distributions to the Company. Condensed Consolidating Statement of Operations Three Months Ended June 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 396,299 $ - $ 396,299 Total operating costs and expenses (297,205) (468,192) - (765,397) Loss from operations (297,205) (71,893) - (369,098) Interest expense (53,655) (847) - (54,502) Other, net (73,074) (334) 73,074 (334) Loss before income taxes (423,934) (73,074) 73,074 (423,934) Income tax benefit 158,249 - - 158,249 Net loss $ (265,685) $ (73,074) $ 73,074 $ (265,685) Condensed Consolidating Statement of Operations Three Months Ended June 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 537,425 $ - $ 537,425 Total operating costs and expenses (148,039) (522,998) - (671,037) Income (loss) from operations (148,039) 14,427 - (133,612) Interest expense (53,482) - - (53,482) Other, net 10,330 (4,097) (10,330) (4,097) Income (loss) before income taxes (191,191) 10,330 (10,330) (191,191) Income tax benefit 70,708 - - 70,708 Net income (loss) $ (120,483) $ 10,330 $ (10,330) $ (120,483) Condensed Consolidating Statement of Operations Six Months Ended June 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 679,863 $ - $ 679,863 Total operating costs and expenses (217,889) (2,384,651) - (2,602,540) Loss from operations (217,889) (1,704,788) - (1,922,677) Interest expense (106,946) (1,694) - (108,640) Other, net (1,713,351) (6,869) 1,713,351 (6,869) Loss before income taxes (2,038,186) (1,713,351) 1,713,351 (2,038,186) Income tax benefit 752,021 - - 752,021 Net loss $ (1,286,165) $ (1,713,351) $ 1,713,351 $ (1,286,165) Condensed Consolidating Statement of Operations Six Months Ended June 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 950,947 $ - $ 950,947 Total operating costs and expenses (33,435) (981,591) - (1,015,026) Loss from operations (33,435) (30,644) - (64,079) Interest expense (107,051) - - (107,051) Other, net (39,043) (8,399) 39,043 (8,399) Loss before income taxes (179,529) (39,043) 39,043 (179,529) Income tax benefit 66,558 - - 66,558 Net loss $ (112,971) $ (39,043) $ 39,043 $ (112,971)
Condensed Consolidating Statement of Cash Flows	The following condensed consolidating balance s heets at June 30, 2016 and December 31, 2015 , condensed c o nsolidating statements of o perations for the three and six months ended June 30, 2016 and 2015 and condensed consolidating statements of cash flows for the six months ended June 30, 2016 and 2015 , present financial information fo r Conch o Resources Inc. as the p arent on a stand-alone basis (carrying any investments in subsidiaries under the equity method), financial information for the subsidiary guarantors on a stand-alone basis and the consolidation and elimination entries necessary to arrive at the information for the Company on a consolidated basis. All current and deferred income taxes are recorded on Concho Resources Inc., as the subsidiaries are flow-through entities for income tax purp oses. The subsidiary guarantors are not restric ted from making distributions to the Company. Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Net cash flows provided by (used in) operating activities $ (414,698) $ 664,523 $ - $ 249,825 Net cash flows provided by (used in) investing activities 426,679 (411,843) - 14,836 Net cash flows used in financing activities (11,981) - - (11,981) Net increase in cash and cash equivalents - 252,680 - 252,680 Cash and cash equivalents at beginning of period - 228,550 - 228,550 Cash and cash equivalents at end of period $ - $ 481,230 $ - $ 481,230 Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Net cash flows provided by (used in) operating activities $ (1,085,293) $ 1,574,227 $ - $ 488,934 Net cash flows provided by (used in) investing activities 279,408 (1,563,597) - (1,284,189) Net cash flows provided by (used in) financing activities 805,885 (10,371) - 795,514 Net increase in cash and cash equivalents - 259 - 259 Cash and cash equivalents at beginning of period - 21 - 21 Cash and cash equivalents at end of period $ - $ 280 $ - $ 280

Subsequent events (Tables)

Subsequent events (Tables)	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
New commodity derivative contracts	After June 30, 2016 , the Com pany entered into the following oil price swaps, oil basis swaps and natural gas price swaps to hedge additional amounts of the Company’s estimated future production: First Second Third Fourth Quarter Quarter Quarter Quarter Total Oil Swaps: (a) 2018: Volume (Bbl) 390,000 390,000 390,000 390,000 1,560,000 Price per Bbl $ 49.24 $ 49.24 $ 49.24 $ 49.24 $ 49.24 Oil Basis Swaps: (b) 2017: Volume (Bbl) 360,000 364,000 368,000 368,000 1,460,000 Price per Bbl $ (0.50) $ (0.50) $ (0.50) $ (0.50) $ (0.50) Natural Gas Swaps: (c) 2017: Volume (MMBtu) 1,985,315 1,066,642 1,110,441 920,000 5,082,398 Price per MMBtu $ 3.21 $ 3.16 $ 3.16 $ 3.14 $ 3.18 (a) The index prices for the oil price swaps are based on the NYMEX – WTI monthly average futures price. (b) The basis differential price is between Midland – WTI and Cushing – WTI. (c) The index prices for the natural gas price swaps are based on the NYMEX – Henry Hub last trading day futures price.

Supplementary information (Tabl

Supplementary information (Tables)	6 Months Ended
	Jun. 30, 2016
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Capitalized costs	Capitalized costs June 30, December 31, (in thousands) 2016 2015 Oil and natural gas properties: Proved $ 15,559,042 $ 14,940,259 Unproved 931,288 906,048 Less: accumulated depletion (7,107,852) (5,047,810) Net capitalized costs for oil and natural gas properties $ 9,382,478 $ 10,798,497
costs incurred for oil and natural gas producing activities	Costs incurred for oil and natural gas producing activities Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Property acquisition costs: Proved $ 3,757 $ 2,243 $ 256,109 $ 2,243 Unproved 18,767 18,037 157,407 34,050 Exploration 165,850 343,051 336,422 772,220 Development 107,039 221,410 190,143 523,154 Total costs incurred for oil and natural gas properties $ 295,413 $ 584,741 $ 940,081 $ 1,331,667 The table below provides the amount of asset retirement obligations included in the costs incurred table shown above: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2016 2015 2016 2015 Exploration costs $ 352 $ 737 $ 583 $ 1,355 Development costs 192 573 421 1,508 Total asset retirement obligations $ 544 $ 1,310 $ 1,004 $ 2,863

Summary Of Significant Accoun37

Summary Of Significant Accounting Policies (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Disclosure Summary Of Significant Accounting Policies Narrative [Abstract]
Fees related to operation of jointly owned oil and natural gas properties	$ 6	$ 6.4	$ 12.5	$ 12.7
Alpha Crude Connector [Member]
Equity Method Investments [Line Items]
Total equity method investment	$ 129		$ 129		$ 98.9
Equity method investment ownership percentage	50.00%		50.00%
Loss from equity method investments			$ (1.9)	(1.7)
Interest costs capitalized on equity method investment				$ 1.5
Other [Member]
Equity Method Investments [Line Items]
Total equity method investment	$ 26		$ 26		$ 20.8
Equity method investment ownership percentage	25.00%		25.00%
Loss from equity method investments			$ (2.3)

Exploratory Well Costs (Capital

Exploratory Well Costs (Capitalized Exploratory Well Activity) (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Disclosure Exploratory Well Costs Capitalized Exploratory Well Activity [Abstract]
Beginning capitalized exploratory well costs	$ 116,198
Additions to exploratory well costs pending the determination of proved reserves	103,499
Reclassifications due to determination of proved reserves	(80,227)
Exploratory well costs charged to expense	(5,707)
Disposition of wells	(17,339)
Ending capitalized exploratory well costs	$ 116,424

Exploratory Well Costs (Aging O

Exploratory Well Costs (Aging Of Capitalized Exploratory Well Costs Based On The Date Of Drilling) (Detail) $ in Thousands	Jun. 30, 2016USD ($)Number	Dec. 31, 2015USD ($)Number
Disclosure Exploratory Well Costs Aging Of Capitalized Exploratory Well Costs Based On The Date Of Drilling [Abstract]
Capitalized exploratory well costs that have been capitalized for a period of one year or less	$ 111,545	$ 98,764
Capitalized exploratory well costs that have been capitalized for a period greater than one year	4,879	17,434
Total capitalized exploratory well costs	$ 116,424	$ 116,198
Projects that have Exploratory Well Costs that have been Capitalized for Period Greater than One Year, Number of Projects | Number	6	8

Exploratory Well Costs (Narrati

Exploratory Well Costs (Narrative) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Oil And Gas In Process Activities [Line Items]
Capitalized Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year	$ 4,879	$ 17,434
Texas Permian Area [Member]
Oil And Gas In Process Activities [Line Items]
Capitalized Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year	300
OBO Projects [Member]
Oil And Gas In Process Activities [Line Items]
Capitalized Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year	4,600
OBO Projects - Projects Drilled in 2012 [Member]
Oil And Gas In Process Activities [Line Items]
Capitalized Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year	$ 3,100

Acquisitions And Divestitures (

Acquisitions And Divestitures (Narrative) (Detail) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Disclosure Acquisitions And Divestitures Narrative [Abstract]
Common stock issued in business combination (Shares)	2,214
Common stock issued in business combination	$ 230,828	$ 0
Cash consideration paid for acquisition	146,200
Future Carry Amount	$ 40,000
Disposal Date	Feb. 26, 2016
Net proceeds from asset divestiture	$ 292,000
Pre-tax gain on asset divestiture	$ 110,100
Acquisition Date	Mar. 21, 2016

Asset Retirement Obligations (S

Asset Retirement Obligations (Schedule Of Asset Retirement Obligation Transactions) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Disclosure Asset Retirement Obligations Schedule Of Asset Retirement Obligation Transactions [Abstract]
Asset retirement obligations, beginning of period			$ 119,945
Liabilities incurred from new wells			1,004
Liabilities assumed in acquisitions			902
Accretion expense	$ 1,745	$ 2,047	3,457	$ 4,041
Disposition of wells			(970)
Liabilities settled upon plugging and abandoning wells			(899)
Asset retirement obligations, end of period	$ 123,439		$ 123,439

Incentive Plans (Summary of Sto

Incentive Plans (Summary of Stock-Based Award Activity) (Detail) - $ / shares		6 Months Ended
		Jun. 30, 2016	Dec. 31, 2015
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding		1,202,594	1,199,647
Awards granted	[1]	427,804
Awards cancelled / forfeited		(46,642)
Lapse of restrictions		(378,215)
Weighted average grant date fair value per share		$ 111.63
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding		22,125	42,901
Options exercised		(20,776)
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding		467,831	315,755
Awards granted	[2]	161,361
Awards cancelled / forfeited		(9,285)
Lapse of restrictions		0
Weighted average grant date fair value per share		$ 114.81
[1]	Weighted average grant date fair value per share is $111.63
[2]	Weighted average grant date fair value per share is $114.81

Incentive Plans (Summary For Fu

Incentive Plans (Summary For Future Stock-Based Compensation Expense) (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Remaining 2,016	$ 33,986
2,017	44,894
2,018	22,267
2,019	4,922
2,020	152
Total	$ 106,221

Disclosures About Fair Value 45

Disclosures About Fair Value Measurements (Narrative) (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2023$ / bbl$ / Mcf	Dec. 31, 2016$ / bbl$ / Mcf
Disclosure Fair Value Narrative [Abstract]
Management Estimate of Future Oil Price | $ / bbl		57.77	49.54
Management Estimate of Future Natural Gas Price | $ / Mcf		3.5	3.04
Annual discount rate	10.00%

Disclosures About Fair Value 46

Disclosures About Fair Value Measurements (Carrying Amounts And Fair Values Of The Company's Financial Instruments) (Detail) - USD ($)		Jun. 30, 2016	Dec. 31, 2015
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative instruments, Assets		$ 230,779,000	$ 819,536,000
Derivative instruments, Liabilities		54,774,000	0
Credit facility		0	0
Seven Point Zero Percent Unsecured Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		621,720,000	595,500,000
Six Point Five Percent Unsecured Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		614,280,000	579,000,000
Five Point Five Percent Unsecured Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		603,000,000	553,500,000
Five Point Five Percent Unsecured Senior Notes Due Twenty Twenty Three [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		1,577,576,105	1,453,005,000
Carrying Reported Amount Fair Value Disclosure [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative instruments, Assets		230,779,000	819,536,000
Derivative instruments, Liabilities		54,774,000	0
Carrying Reported Amount Fair Value Disclosure [Member] | Seven Point Zero Percent Unsecured Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes	[1]	593,048,000	592,414,000
Carrying Reported Amount Fair Value Disclosure [Member] | Six Point Five Percent Unsecured Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes	[1]	592,125,000	591,549,000
Carrying Reported Amount Fair Value Disclosure [Member] | Five Point Five Percent Unsecured Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes	[1]	593,337,000	592,899,000
Carrying Reported Amount Fair Value Disclosure [Member] | Five Point Five Percent Unsecured Senior Notes Due Twenty Twenty Three [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes	[1]	$ 1,555,022,000	$ 1,555,326,000
[1]	The carrying value includes associated deferred loan costs and any premium.

Disclosures About Fair Value 47

Disclosures About Fair Value Measurements (Company's Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value Of Derivatives Disclosure Information [Line Items]
Current derivative contracts, assets	$ 230,779	$ 652,498
Noncurrent derivative contracts, assets	0	167,038
Current derivative contracts, liabilities	(412)	0
Noncurrent derivative contracts, liabilities	(54,362)	0
Net financial assets (liabilities)	176,005	819,536
Estimate Of Fair Value Fair Value Disclosure [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Current derivative contracts, assets	265,181	684,029
Noncurrent derivative contracts, assets	12,762	175,267
Current derivative contracts, liabilities	(34,814)	(31,531)
Noncurrent derivative contracts, liabilities	(67,124)	(8,229)
Net financial assets (liabilities)	176,005	819,536
Gross Amounts Offset in Consolidated Balance Sheet [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Current derivative contracts, assets	(34,402)	(31,531)
Noncurrent derivative contracts, assets	(12,762)	(8,229)
Current derivative contracts, liabilities	34,402	31,531
Noncurrent derivative contracts, liabilities	12,762	8,229
Net financial assets (liabilities)	0	0
Fair Value Inputs Level 1 [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Current derivative contracts, assets	0	0
Noncurrent derivative contracts, assets	0	0
Current derivative contracts, liabilities	0	0
Noncurrent derivative contracts, liabilities	0	0
Net financial assets (liabilities)	0	0
Fair Value Inputs Level 2 [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Current derivative contracts, assets	265,181	684,029
Noncurrent derivative contracts, assets	12,762	175,267
Current derivative contracts, liabilities	(34,814)	(31,531)
Noncurrent derivative contracts, liabilities	(67,124)	(8,229)
Net financial assets (liabilities)	176,005	819,536
Fair Value Inputs Level 3 [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Current derivative contracts, assets	0	0
Noncurrent derivative contracts, assets	0	0
Current derivative contracts, liabilities	0	0
Noncurrent derivative contracts, liabilities	0	0
Net financial assets (liabilities)	$ 0	$ 0

Disclosures About Fair Value 48

Disclosures About Fair Value Measurements (Carrying Amounts, Estimated Fair Values And Impairment Expense Of Long-Lived Assets For Continuing And Discontinued Operations) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Disclosure Disclosures About Fair Value Of Financial Instruments Carrying Amounts Estimated Fair Values And Impairment Expense Of Long Lived Assets For Continuing And Discontinued Operations [Abstract]
Carrying Amount	$ 3,437,612
Estimated Fair Value (Level 3)	1,912,967
Impairment Expense	$ 1,524,645

Derivative Financial Instrume49

Derivative Financial Instruments (Gains And Losses Reported In Earnings Related To Commodity Derivative Instruments) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Financial Instruments Gains And Losses Reported In Earnings Related To Commodity Derivative Instruments [Line Items]
Net settlements received from derivatives	$ 168,749	$ 112,252	$ 426,679	$ 279,408
Mark-to-market gain (loss)	(296,694)	(147,399)	(216,852)	(32,059)
Oil Commodity Derivative [Member]
Derivative Financial Instruments Gains And Losses Reported In Earnings Related To Commodity Derivative Instruments [Line Items]
Net settlements received from derivatives	160,968	103,129	412,095	263,315
Mark-to-market gain (loss)	(279,805)	(146,549)	(208,665)	(36,269)
Natural Gas Commodity Derivative [Member]
Derivative Financial Instruments Gains And Losses Reported In Earnings Related To Commodity Derivative Instruments [Line Items]
Net settlements received from derivatives	7,781	9,123	14,584	16,093
Mark-to-market gain (loss)	$ (16,889)	$ (850)	$ (8,187)	$ 4,210

Derivative Financial Instrume50

Derivative Financial Instruments (Outstanding Commodity Derivative Contracts) (Detail) - Minimum [Member]		3 Months Ended										12 Months Ended
		Dec. 31, 2018bbl$ / bbl	Sep. 30, 2018bbl$ / bbl	Jun. 30, 2018bbl$ / bbl	Mar. 31, 2018bbl$ / bbl	Dec. 31, 2017MMBTUbbl$ / bbl$ / MMBTU	Sep. 30, 2017MMBTUbbl$ / bbl$ / MMBTU	Jun. 30, 2017MMBTUbbl$ / bbl$ / MMBTU	Mar. 31, 2017MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2016MMBTUbbl$ / bbl$ / MMBTU	Sep. 30, 2016MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2018bbl$ / bbl	Dec. 31, 2017MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2016MMBTUbbl$ / bbl$ / MMBTU
Oil Swaps [Member]
Derivative [Line Items]
Volume (Bbl/MMBtu) - Current Year | bbl	[1]									5,054,000	5,460,000			10,514,000
Price per Bbl/MMBtu - Current Year | $ / bbl	[1]									59.38	74.21			67.08
Volume (Bbl/MMBtu) - Year One | bbl	[1]					4,337,000	4,592,000	4,903,000	5,278,000				19,110,000
Price per Bbl/MMBtu - Year One | $ / bbl	[1]					51.33	51.04	59.35	58.73				55.36
Volume (Bbl/MMBtu) - Year Two | bbl	[1]	1,920,000	1,920,000	1,920,000	1,920,000							7,680,000
Price per Bbl/MMBtu - Year Two | $ / bbl	[1]	48.73	48.73	48.73	48.73							48.73
Oil Basis Swaps [Member]
Derivative [Line Items]
Volume (Bbl/MMBtu) - Current Year | bbl	[2]									5,060,000	5,520,000			10,580,000
Price per Bbl/MMBtu - Current Year | $ / bbl	[2]									(1.48)	(1.46)			(1.47)
Volume (Bbl/MMBtu) - Year One | bbl	[2]					3,496,000	3,496,000	4,519,000	4,590,000				16,101,000
Price per Bbl/MMBtu - Year One | $ / bbl	[2]					(0.43)	(0.43)	(1.18)	(1.16)				(0.85)
Natural Gas Swap [Member]
Derivative [Line Items]
Volume (Bbl/MMBtu) - Current Year | MMBTU	[3]									7,360,000	7,360,000			14,720,000
Price per Bbl/MMBtu - Current Year | $ / MMBTU	[3]									3.02	3.02			3.02
Volume (Bbl/MMBtu) - Year One | MMBTU	[3]					9,660,000	9,660,000	10,465,000	10,350,000				40,135,000
Price per Bbl/MMBtu - Year One | $ / MMBTU	[3]					3	3	3	3				3
[1]	The index prices for the oil price swaps are based on the New York Mercantile Exchange (“NYMEX”) – West Texas Intermediate (“WTI”) monthly average futures price.
[2]	The basis differential price is between Midland – WTI and Cushing – WTI.
[3]	The index prices for the natural gas price swaps are based on the NYMEX – Henry Hub last trading day futures price.

Derivative Counterparties (Deta

Derivative Counterparties (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Derivative Counterparties Fair Value [Line Items]
Net financial assets (liabilities)	$ 176,005	$ 819,536
JP Morgan Chase Bank [Member]
Derivative Counterparties Fair Value [Line Items]
Credit Risk Derivative Assets At Fair Value	26,900
Wells Fargo Bank NA [Member]
Derivative Counterparties Fair Value [Line Items]
Credit Risk Derivative Assets At Fair Value	21,000
Barclays Bank PLC [Member]
Derivative Counterparties Fair Value [Line Items]
Credit Risk Derivative Assets At Fair Value	40,300
Societe Generale [Member]
Derivative Counterparties Fair Value [Line Items]
Credit Risk Derivative Assets At Fair Value	$ 19,700

Debt (Summary Of Long-Term Debt

Debt (Summary Of Long-Term Debt) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Credit facility	$ 0	$ 0
Unamortized original issue premium	23,642	25,073
Senior notes issuance costs, net	(40,110)	(42,885)
Less: current portion	0	0
Total long-term debt	3,333,532	3,332,188
7.0% unsecured senior notes due 2021
Debt Instrument [Line Items]
Unsecured senior notes	600,000	600,000
6.5% unsecured senior notes due 2022
Debt Instrument [Line Items]
Unsecured senior notes	600,000	600,000
5.5% unsecured senior notes due 2022
Debt Instrument [Line Items]
Unsecured senior notes	600,000	600,000
5.5% unsecured senior notes due 2023
Debt Instrument [Line Items]
Unsecured senior notes	$ 1,550,000	$ 1,550,000

Debt (Narrative) (Detail)

Debt (Narrative) (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Debt Disclosure [Line Items]
Line of credit maturity date	May 9, 2019
Aggregate lender commitments	$ 2,500
Aggregate maximum borrowing base	$ 2,800

Debt (Principal Maturities Of D

Debt (Principal Maturities Of Debt) (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Disclosure Debt Principal Maturities Of Debt [Abstract]
Remaining 2,016	$ 0
2,017	0
2,018	0
2,019	0
2,020	0
2,021	600,000
Thereafter	2,750,000
Total	$ 3,350,000

Debt (Summary Of Interest Expen

Debt (Summary Of Interest Expense) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Disclosure Debt Summary Of Interest Expense [Abstract]
Cash payments for interest	$ (63,017)	$ (59,225)	$ (105,507)	$ (105,232)
Amortization of original issue premium	(720)	(681)	(1,431)	(1,355)
Amortization of deferred loan origination costs	2,567	2,482	5,113	4,945
Accretion expense	485	0	971	0
Net changes in accruals	(10,847)	(6,365)	(1,268)	618
Interest costs incurred	54,502	54,661	108,892	109,440
Less: capitalized interest	0	(1,179)	(252)	(2,389)
Total interest expense	$ 54,502	$ 53,482	$ 108,640	$ 107,051

Commitments And Contingencies56

Commitments And Contingencies (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Commitments [Line Items]
Operating leases, lease payments	$ 2.1	$ 1.9	$ 4.2	$ 3.8
Accrued Exposure	$ 13.8		$ 13.8		$ 13.4

Commitments And Contingencies57

Commitments And Contingencies (Future Commitments) (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Disclosure Commitments And Contingencies Future Commitments [Abstract]
Remaining 2,016	$ 29,573
2,017	24,186
2,018	63,057
2,019	17,294
2,020	11,797
2,021	7,317
Thereafter	37,921
Total	$ 191,145

Commitments And Contingencies58

Commitments And Contingencies (Future Minimum Lease Commitments Under Non-Cancellable Operating Leases) (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Disclosure Commitments And Contingencies Future Minimum Lease Commitments Under Non Cancellable Operating Leases [Abstract]
Remaining 2,016	$ 4,231
2,017	8,458
2,018	7,637
2,019	6,169
2,020	4,866
2,021	4,147
Thereafter	994
Total	$ 36,502

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Disclosure Income Taxes Narrative [Abstract]
Effective tax rate	37.30%	37.00%	36.90%	37.10%

Related Party Transactions (Sch

Related Party Transactions (Schedule Of Related Party Transactions) (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Related Party Transaction [Line Items]
Ownership interest in partnership		3.50%
Partnership (Director Ownership Interest) [Member]
Related Party Transaction [Line Items]
Amounts paid	[1]	$ 999	$ 1,403	$ 2,144	$ 3,097
Director and Certain Officers [Member]
Related Party Transaction [Line Items]
Amounts paid	[2]	75	32	235	555
Amounts received	[3]	$ 4	$ 52	$ 20	$ 67
[1]	Amounts include royalties on certain properties paid to a partnership in which a director of the Company is the general partner and owns a 3.5 percent partnership interest.
[2]	Amounts include revenue interests, overriding royalty interests and net profits interests in properties owned by the Company made to a director and certain officers (or affiliated entities). Amounts also include payments for lease bonuses to an affiliated entity of an officer.
[3]	Amounts include payments to the Company as a result of activity on oil and natural gas properties in which certain officers (or affiliated entities) have an interest.

Net Income Per Share (Narrative

Net Income Per Share (Narrative) (Detail)	3 Months Ended
	Jun. 30, 2016
Disclosure Net Income Per Share Narrative [Abstract]
Performance unit awards vesting period	36 months
Maximum Payout Value on Performance Units	300.00%
Minimum Payout Value on Performance Units	0.00%

Net Income Per Share (Reconcili

Net Income Per Share (Reconciliation Of Earnings Attributable To Common Shares Basic And Diluted) (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Net loss		$ (265,685)	$ (120,483)	$ (1,286,165)	$ (112,971)
Participating basic earnings	[1]	0	0	0	0
Basic net income (loss) attributable to common stockholders		(265,685)	(120,483)	(1,286,165)	(112,971)
Reallocation of participating earnings		0	0	0	0
Diluted net income (loss) attributable to common stockholders		$ (265,685)	$ (120,483)	$ (1,286,165)	$ (112,971)
Basic net loss		$ (2.04)	$ (1.02)	$ (9.94)	$ (0.97)
Diluted net loss		$ (2.04)	$ (1.02)	$ (9.94)	$ (0.97)
[1]	Unvested restricted stock awards represent participating securities because they participate in nonforfeitable dividends or distributions with the common equity holders of the Company. Participating earnings represent the distributed earnings of the Company attributable to the participating securities. Unvested restricted stock awards do not participate in undistributed net losses as they are not contractually obligated to do so.

Net Income Per Share (Reconci63

Net Income Per Share (Reconciliation Of The Weighted Average Common Shares Outstanding) (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reconciliation Of Basic Weighted Average Common Shares Outstanding To Diluted Weighted Average Common Shares Outstanding [Line Items]
Basic	130,400	117,637	129,398	116,502
Diluted	130,400	117,637	129,398	116,502
Stock Options [Member]
Reconciliation Of Basic Weighted Average Common Shares Outstanding To Diluted Weighted Average Common Shares Outstanding [Line Items]
Dilutive shares	0	0	0	0
Performance Shares [Member]
Reconciliation Of Basic Weighted Average Common Shares Outstanding To Diluted Weighted Average Common Shares Outstanding [Line Items]
Dilutive shares	0	0	0	0

Subsidiary Guarantors (Condense

Subsidiary Guarantors (Condensed Consolidating Balance Sheet) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Accounts receivable - related parties	$ 0	$ 0
Other current assets	1,111,990	1,314,550
Oil and natural gas properties, net	9,382,478	10,798,497
Property and equipment, net	183,966	178,450
Investment in subsidiaries	0	0
Other long-term assets	223,183	350,379
Total assets	10,901,617	12,641,876
LIABILITIES AND EQUITY
Accounts payable - related parties	0	0
Other current liabilities	575,590	596,420
Long-term debt	3,333,532	3,332,188
Other long-term liabilities	1,088,789	1,770,717
Equity	5,903,706	6,942,551
Total liabilities and stockholders' equity	10,901,617	12,641,876
Consolidation Eliminations [Member]
ASSETS
Accounts receivable - related parties	(9,752,757)	(9,664,396)
Other current assets	0	0
Oil and natural gas properties, net	0	0
Property and equipment, net	0	0
Investment in subsidiaries	(1,985,134)	(3,698,485)
Other long-term assets	0	0
Total assets	(11,737,891)	(13,362,881)
LIABILITIES AND EQUITY
Accounts payable - related parties	(9,752,757)	(9,664,396)
Other current liabilities	0	0
Long-term debt	0	0
Other long-term liabilities	0	0
Equity	(1,985,134)	(3,698,485)
Total liabilities and stockholders' equity	(11,737,891)	(13,362,881)
Parent Company [Member]
ASSETS
Accounts receivable - related parties	8,853,785	8,502,099
Other current assets	284,704	753,716
Oil and natural gas properties, net	0	0
Property and equipment, net	0	0
Investment in subsidiaries	1,985,134	3,698,485
Other long-term assets	25,418	182,623
Total assets	11,149,041	13,136,923
LIABILITIES AND EQUITY
Accounts payable - related parties	898,972	1,162,297
Other current liabilities	68,145	69,514
Long-term debt	3,333,532	3,332,188
Other long-term liabilities	944,686	1,630,373
Equity	5,903,706	6,942,551
Total liabilities and stockholders' equity	11,149,041	13,136,923
Guarantor Subsidiaries [Member]
ASSETS
Accounts receivable - related parties	898,972	1,162,297
Other current assets	827,286	560,834
Oil and natural gas properties, net	9,382,478	10,798,497
Property and equipment, net	183,966	178,450
Investment in subsidiaries	0	0
Other long-term assets	197,765	167,756
Total assets	11,490,467	12,867,834
LIABILITIES AND EQUITY
Accounts payable - related parties	8,853,785	8,502,099
Other current liabilities	507,445	526,906
Long-term debt	0	0
Other long-term liabilities	144,103	140,344
Equity	1,985,134	3,698,485
Total liabilities and stockholders' equity	$ 11,490,467	$ 12,867,834

Subsidiary Guarantors (Conden65

Subsidiary Guarantors (Condensed Consolidating Statement Of Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Financial Statements Captions [Line Items]
Total operating revenues	$ 396,299	$ 537,425	$ 679,863	$ 950,947
Total operating costs and expenses	(765,397)	(671,037)	(2,602,540)	(1,015,026)
Loss from operations	(369,098)	(133,612)	(1,922,677)	(64,079)
Interest expense	(54,502)	(53,482)	(108,640)	(107,051)
Other, net	(334)	(4,097)	(6,869)	(8,399)
Loss before income taxes	(423,934)	(191,191)	(2,038,186)	(179,529)
Income tax benefit	158,249	70,708	752,021	66,558
Net loss	(265,685)	(120,483)	(1,286,165)	(112,971)
Consolidation Eliminations [Member]
Condensed Financial Statements Captions [Line Items]
Total operating revenues	0	0	0	0
Total operating costs and expenses	0	0	0	0
Loss from operations	0	0	0	0
Interest expense	0	0	0	0
Other, net	73,074	(10,330)	1,713,351	39,043
Loss before income taxes	73,074	(10,330)	1,713,351	39,043
Income tax benefit	0	0	0	0
Net loss	73,074	(10,330)	1,713,351	39,043
Parent Company [Member]
Condensed Financial Statements Captions [Line Items]
Total operating revenues	0	0	0	0
Total operating costs and expenses	(297,205)	(148,039)	(217,889)	(33,435)
Loss from operations	(297,205)	(148,039)	(217,889)	(33,435)
Interest expense	(53,655)	(53,482)	(106,946)	(107,051)
Other, net	(73,074)	10,330	(1,713,351)	(39,043)
Loss before income taxes	(423,934)	(191,191)	(2,038,186)	(179,529)
Income tax benefit	158,249	70,708	752,021	66,558
Net loss	(265,685)	(120,483)	(1,286,165)	(112,971)
Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Total operating revenues	396,299	537,425	679,863	950,947
Total operating costs and expenses	(468,192)	(522,998)	(2,384,651)	(981,591)
Loss from operations	(71,893)	14,427	(1,704,788)	(30,644)
Interest expense	(847)	0	(1,694)	0
Other, net	(334)	(4,097)	(6,869)	(8,399)
Loss before income taxes	(73,074)	10,330	(1,713,351)	(39,043)
Income tax benefit	0	0	0	0
Net loss	$ (73,074)	$ 10,330	$ (1,713,351)	$ (39,043)

Subsidiary Guarantors (Conden66

Subsidiary Guarantors (Condensed Consolidating Statement Of Cash Flows) (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Condensed Financial Statements Captions [Line Items]
Net cash flows provided by (used in) operating activities	$ 249,825	$ 488,934
Net cash flows provided by (used in) investing activities	14,836	(1,284,189)
Net cash flows provided by (used in) financing activities	(11,981)	795,514
Net increase (decrease) in cash and cash equivalents	252,680	259
Cash and cash equivalents at beginning of period	228,550	21
Cash and cash equivalents at end of period	481,230	280
Consolidation Eliminations [Member]
Condensed Financial Statements Captions [Line Items]
Net cash flows provided by (used in) operating activities	0	0
Net cash flows provided by (used in) investing activities	0	0
Net cash flows provided by (used in) financing activities	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Parent Company [Member]
Condensed Financial Statements Captions [Line Items]
Net cash flows provided by (used in) operating activities	(414,698)	(1,085,293)
Net cash flows provided by (used in) investing activities	426,679	279,408
Net cash flows provided by (used in) financing activities	(11,981)	805,885
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Net cash flows provided by (used in) operating activities	664,523	1,574,227
Net cash flows provided by (used in) investing activities	(411,843)	(1,563,597)
Net cash flows provided by (used in) financing activities	0	(10,371)
Net increase (decrease) in cash and cash equivalents	252,680	259
Cash and cash equivalents at beginning of period	228,550	21
Cash and cash equivalents at end of period	$ 481,230	$ 280

Subsequent Events (New Commodit

Subsequent Events (New Commodity Derivative Contracts) (Detail) - Minimum [Member]		3 Months Ended										12 Months Ended
		Dec. 31, 2018bbl$ / bbl	Sep. 30, 2018bbl$ / bbl	Jun. 30, 2018bbl$ / bbl	Mar. 31, 2018bbl$ / bbl	Dec. 31, 2017MMBTUbbl$ / bbl$ / MMBTU	Sep. 30, 2017MMBTUbbl$ / bbl$ / MMBTU	Jun. 30, 2017MMBTUbbl$ / bbl$ / MMBTU	Mar. 31, 2017MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2016MMBTUbbl$ / bbl$ / MMBTU	Sep. 30, 2016MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2018bbl$ / bbl	Dec. 31, 2017MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2016MMBTUbbl$ / bbl$ / MMBTU
Oil Swaps [Member]
Subsequent Event [Line Items]
Volume (Bbl/MMBtu) - Current Year | bbl	[1]									5,054,000	5,460,000			10,514,000
Price per Bbl/MMBtu - Current Year | $ / bbl	[1]									59.38	74.21			67.08
Volume (Bbl/MMBtu) - Year One | bbl	[1]					4,337,000	4,592,000	4,903,000	5,278,000				19,110,000
Price per Bbl/MMBtu - Year One | $ / bbl	[1]					51.33	51.04	59.35	58.73				55.36
Volume (Bbl/MMBtu) - Year Two | bbl	[1]	1,920,000	1,920,000	1,920,000	1,920,000							7,680,000
Price per Bbl/MMBtu - Year Two | $ / bbl	[1]	48.73	48.73	48.73	48.73							48.73
Oil Basis Swaps [Member]
Subsequent Event [Line Items]
Volume (Bbl/MMBtu) - Current Year | bbl	[2]									5,060,000	5,520,000			10,580,000
Price per Bbl/MMBtu - Current Year | $ / bbl	[2]									(1.48)	(1.46)			(1.47)
Volume (Bbl/MMBtu) - Year One | bbl	[2]					3,496,000	3,496,000	4,519,000	4,590,000				16,101,000
Price per Bbl/MMBtu - Year One | $ / bbl	[2]					(0.43)	(0.43)	(1.18)	(1.16)				(0.85)
Natural Gas Swap [Member]
Subsequent Event [Line Items]
Volume (Bbl/MMBtu) - Current Year | MMBTU	[3]									7,360,000	7,360,000			14,720,000
Price per Bbl/MMBtu - Current Year | $ / MMBTU	[3]									3.02	3.02			3.02
Volume (Bbl/MMBtu) - Year One | MMBTU	[3]					9,660,000	9,660,000	10,465,000	10,350,000				40,135,000
Price per Bbl/MMBtu - Year One | $ / MMBTU	[3]					3	3	3	3				3
Subsequent Event [Member] | Oil Swaps [Member]
Subsequent Event [Line Items]
Volume (Bbl/MMBtu) - Year Two | bbl	[1]	390,000	390,000	390,000	390,000							1,560,000
Price per Bbl/MMBtu - Year Two | $ / bbl	[1]	49.24	49.24	49.24	49.24							49.24
Subsequent Event [Member] | Oil Basis Swaps [Member]
Subsequent Event [Line Items]
Volume (Bbl/MMBtu) - Year One | bbl	[2]					368,000	368,000	364,000	360,000				1,460,000
Price per Bbl/MMBtu - Year One | $ / bbl	[2]					(0.5)	(0.5)	(0.5)	(0.5)				(0.5)
Subsequent Event [Member] | Natural Gas Swap [Member]
Subsequent Event [Line Items]
Volume (Bbl/MMBtu) - Year One | MMBTU	[3]					920,000	1,110,441	1,066,642	1,985,315				5,082,398
Price per Bbl/MMBtu - Year One | $ / MMBTU	[3]					3.14	3.16	3.16	3.21				3.18
[1]	The index prices for the oil price swaps are based on the New York Mercantile Exchange (“NYMEX”) – West Texas Intermediate (“WTI”) monthly average futures price.
[2]	The basis differential price is between Midland – WTI and Cushing – WTI.
[3]	The index prices for the natural gas price swaps are based on the NYMEX – Henry Hub last trading day futures price.

Supplementary Information (Capi

Supplementary Information (Capitalized Costs) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Disclosure Supplementary Information Capitalized Costs [Abstract]
Proved	$ 15,559,042	$ 14,940,259
Unproved	931,288	906,048
Accumulated depletion and depreciation	(7,107,852)	(5,047,810)
Net capitalized costs for oil and natural gas properties	$ 9,382,478	$ 10,798,497

Supplementary Information (Cost

Supplementary Information (Costs Incurred For Oil And Natural Gas Producing Activities) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Disclosure Supplementary Information Costs Incurred For Oil And Natural Gas Producing Activities [Abstract]
Proved	$ 3,757	$ 2,243	$ 256,109	$ 2,243
Unproved	18,767	18,037	157,407	34,050
Exploration	165,850	343,051	336,422	772,220
Development	107,039	221,410	190,143	523,154
Total costs incurred for oil and natural gas properties	$ 295,413	$ 584,741	$ 940,081	$ 1,331,667

Supplementary Information (Asse

Supplementary Information (Asset Retirement Obligations For Oil and Natural Gas Producing Activities) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Disclosure Supplementary Information Asset Retirement Obligations For Oil And Natural Gas Producing Activities [Abstract]
Exploration costs	$ 352	$ 737	$ 583	$ 1,355
Development costs	192	573	421	1,508
Total	$ 544	$ 1,310	$ 1,004	$ 2,863