Concho Resources (CXO) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 07, 2016
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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		146,050,840

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,158,939	$ 228,550
Accounts receivable, net of allowance for doubtful accounts:
Oil and natural gas	202,865	203,972
Joint operations and other	207,351	190,608
Derivative instruments	119,175	652,498
Prepaid costs and other	30,480	38,922
Total current assets	1,718,810	1,314,550
Property and equipment:
Oil and natural gas properties, successful efforts method	16,769,269	15,846,307
Accumulated depletion and depreciation	(7,403,505)	(5,047,810)
Total oil and natural gas properties, net	9,365,764	10,798,497
Other property and equipment, net	181,267	178,450
Total property and equipment, net	9,547,031	10,976,947
Funds held in escrow	81,250	0
Deferred loan costs, net	12,078	15,585
Intangible asset - operating rights, net	24,597	25,693
Inventory	16,905	19,118
Noncurrent derivative instruments	0	167,038
Other assets	169,963	122,945
Total assets	11,570,634	12,641,876
Accounts payable:
Trade	22,398	13,200
Related parties	0	0
Revenue payable	111,444	169,787
Accrued and prepaid drilling costs	326,184	228,523
Derivative instruments	3,508	0
Other current liabilities	109,114	184,910
Total current liabilities	572,648	596,420
Long-term debt	2,740,847	3,332,188
Deferred income taxes	862,766	1,630,373
Noncurrent derivative instruments	53,840	0
Asset retirement obligations and other long-term liabilities	145,950	140,344
Commitments and contingencies (Note 10)
Stockholders' equity:
Common stock, $0.001 par value; 300,000,000 authorized; 142,562,011 and 129,444,042 shares issued at September 30, 2016 and December 31, 2015, respectively	143	129
Additional paid-in capital	6,229,586	4,628,390
Retained earnings	1,008,330	2,345,641
Treasury stock, at cost; 429,084 and 306,061 shares at September 30, 2016 and December 31, 2015, respectively	(43,476)	(31,609)
Total stockholders' equity	7,194,583	6,942,551
Total liabilities and stockholders' equity	$ 11,570,634	$ 12,641,876

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 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	142,562,011	129,444,042
Treasury shares	429,084	306,061

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Operating revenues:
Oil sales	$ 348,096	$ 391,963	$ 929,383	$ 1,212,437
Natural gas sales	82,452	71,511	181,028	201,984
Total operating revenues	430,548	463,474	1,110,411	1,414,421
Operating costs and expenses:
Oil and natural gas production	103,575	138,125	328,756	405,925
Exploration and abandonments	10,344	14,791	54,478	32,566
Depreciation, depletion and amortization	299,209	329,467	890,257	901,474
Accretion of discount on asset retirement obligations	1,769	1,853	5,226	5,894
Impairments of long-lived assets	0	7,588	1,524,645	7,588
General and administrative (including non-cash stock-based compensation of $14,728 and $16,327 for the three months ended September 30, 2016 and 2015, respectively, and $43,201 and $47,272 for the nine months ended September 30, 2016 and 2015, respectively)	53,505	60,052	160,657	179,776
(Gain) loss on derivatives	(41,186)	(413,130)	175,666	(381,071)
(Gain) loss on disposition of assets, net	755	(32)	(109,174)	1,588
Total operating costs and expenses	427,971	138,714	3,030,511	1,153,740
Income (loss) from operations	2,577	324,760	(1,920,100)	260,681
Other income (expense):
Interest expense	(52,994)	(53,752)	(161,634)	(160,803)
Loss on extinguishment of debt	(27,670)	0	(27,670)	0
Other, net	(3,433)	524	(10,302)	(7,875)
Total other expense	(84,097)	(53,228)	(199,606)	(168,678)
Income (loss) before income taxes	(81,520)	271,532	(2,119,706)	92,003
Income tax (expense) benefit	30,374	(91,873)	782,395	(25,315)
Net income (loss)	$ (51,146)	$ 179,659	$ (1,337,311)	$ 66,688
Earnings per share:
Basic net income (loss)	$ (0.38)	$ 1.49	$ (10.18)	$ 0.56
Diluted net income (loss)	$ (0.38)	$ 1.49	$ (10.18)	$ 0.56

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Non-cash stock-based compensation	$ 14,728	$ 16,327	$ 43,201	$ 47,272

Consolidated Statement of Stock

Consolidated Statement of Stockholders Equity - 9 months ended Sep. 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 income (loss)	$ (1,337,311)	$ 0	0	(1,337,311)	$ 0
Issuance of common stock (Shares)	10,350	10,350			0
Issuance of common stock	$ 1,327,444	$ 10	1,327,434	0	$ 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	425	$ 2	423	0	$ 0
Stock options exercised, shares		21			0
Grants of restricted stock, shares		430			0
Performance unit share conversion, shares		180			0
Cancellation of restricted stock, shares		(77)			0
Stock-based compensation	43,201	$ 0	43,201	0	$ 0
Tax deficiency related to stock-based compensation	(688)	0	(688)	0	0
Purchase of treasury stock	(11,867)	$ 0	0	0	$ (11,867)
Purchase of treasury stock, shares		0			123
BALANCE at Sep. 30, 2016	$ 7,194,583	$ 143	$ 6,229,586	$ 1,008,330	$ (43,476)
BALANCE, Shares at Sep. 30, 2016		142,562			429

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (1,337,311)	$ 66,688
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation, depletion and amortization	890,257	901,474
Accretion of discount on asset retirement obligations	5,226	5,894
Impairments of long-lived assets	1,524,645	7,588
Exploration and abandonments, including dry holes	46,643	25,859
Non-cash stock-based compensation expense	43,201	47,272
Deferred income taxes	(767,607)	6,565
(Gain) loss on disposition of assets, net	(109,174)	1,588
(Gain) loss on derivatives	175,666	(381,071)
Loss on extinguishment of debt	27,670	0
Other non-cash items	10,928	8,074
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	60,977	111,475
Prepaid costs and other	7,347	(3,049)
Inventory	1,641	(7,236)
Accounts payable	9,254	4,089
Revenue payable	(56,740)	(52,366)
Other current liabilities	(95,322)	17,749
Net cash provided by (used in) operating activities	437,301	760,593
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures on oil and natural gas properties	(926,922)	(2,177,144)
Additions to property, equipment and other assets	(20,688)	(45,231)
Proceeds from the disposition of assets	296,341	106
Funds held in escrow	(81,250)	0
Contributions to equity method investments	(50,750)	(45,000)
Net settlements received from (paid on) derivatives	582,043	443,441
Net cash provided by (used in) investing activities	(201,226)	(1,823,828)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of debt	0	1,337,900
Payments of debt	(600,000)	(1,030,900)
Call premium on extinguishment of debt	(21,000)	0
Exercise of stock options	425	59
Excess tax benefit (deficiency) from stock-based compensation	(688)	2,429
Net proceeds from issuance of common stock	1,327,444	741,509
Purchase of treasury stock	(11,867)	(4,963)
Increase (decrease) in bank overdrafts	0	17,200
Net cash provided by (used in) financing activities	694,314	1,063,234
Net increase (decrease) in cash and cash equivalents	930,389	(1)
Cash and cash equivalents at beginning of period	228,550	21
Cash and cash equivalents at end of period	1,158,939	20
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	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 im pact on net income ( 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 America requir es 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 expenses during the reporting periods. Actual results could differ from these estimates. Depletion of oil and natural gas properties is determined using estimates of proved oil and natural gas reserves. There are numerous uncertainties inherent in the estimation of quant ities 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 uncertainties inclu ding, 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, fair value o f 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 $ 128.5 million and $ 98.9 million at September 30, 2016 and December 31, 2015 , respectively, and is included in other assets in the Company’s consolidated balance sheets. The equity loss is included in other expense in the Company’s consolidated statements of operations and was approximately $ 0.4 million and $ 1.0 million for the three months ended September 30, 2016 and 2015 , respectively, and approximately $ 2.3 million and $ 2.7 million for the nine months ended September 30, 2016 and 2015 , respectively . During the three and nine months ended September 30, 2015 , the Company recorded $ 1.0 mil lion and $ 2.5 million , respectively, 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 initial system is ope rational and substantially complete, and is expected to be fully 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 approximate ly $ 37.1 million and $ 20.8 million at September 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 three and nine months ended September 30, 2016 was approximately $ 0.2 million and $ 2.5 million , respectively, 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. 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 does not plan on early adopting this standard. Once adopted, the Com pany expects increased volatility in earnings and in the effective tax rate due to the excess tax benefits and deficiencies being recognized in the statement of operations.

Exploratory well costs

Exploratory well costs	9 Months Ended
	Sep. 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 economic and operating viability of the project. The capitalized explo ratory well costs are carried in unproved oil and natural gas properties. See Note 17 for the proved and unproved components of oil and natural gas properties. If the exploratory well is determined to be impaired, the well costs are charged to expl oration and abandonments expense in the consolidated statements of operations. The following table reflects the Company’s net capitalized exploratory well activity during the nine months ended September 30, 2016 : Nine Months Ended (in thousands) September 30, 2016 Beginning capitalized exploratory well costs $ 116,198 Additions to exploratory well costs pending the determination of proved reserves 142,428 Reclassifications due to determination of proved reserves (86,192) Exploratory well costs charged to expense (5,707) Disposition of wells (17,339) Ending capitalized exploratory well costs $ 149,388 The following table provides an aging at September 30, 2016 and December 31, 2015 of capitalized exploratory well costs based on the date drilling was completed: September 30, December 31, (dollars in thousands) 2016 2015 Capitalized exploratory well costs that have been capitalized for a period of one year or less $ 140,966 $ 98,764 Capitalized exploratory well costs that have been capitalized for a period greater than one year 8,422 17,434 Total capitalized exploratory well costs $ 149,388 $ 116,198 Number of projects with exploratory well costs that have been capitalized for a period greater than one year 7 8 Projects operated by others. At September 30, 2016 , the Company had approximately $ 1.9 million of suspended well costs greater than one year recorded for five wells that are operated by others and waiting on completion. Three of these wells completed drilling in 2014 and the remaining two wells completed drilling in 201 5 . Delaware Basin project. At September 30, 2016 , the Company had approximately $4.8 million of suspended well costs greater than one year recorded for a well drilled in 2015. The Company expects to complete this well in 2017. Midland Basin project . At September 30, 2016 , the Company had approximately $ 1 . 7 million of suspended well costs greater than one year recorded for a well drilled in 2015. Currently, the Company is evaluating the well’s potential capacity to monitor nearby horizontal wells. The Company expects to complete this well in 2017.

Acquisitions and divestitures

Acquisitions and divestitures	9 Months Ended
	Sep. 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 issued to the seller approximately 2.2 million shares of common stock with an approximate value of $230.8 million, $145.7 million in cash and $40.0 million to carry a portion of the seller’s future d evelopment costs in these properties. Asset divestiture. In February 2016, the Company sold certain assets in the northern Delaware Basin for proceeds of approximately $292.0 million and recognized a pre-tax gain of approximately $110.1 million.

Asset retirement obligations

Asset retirement obligations	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 : Nine Months Ended (in thousands) September 30, 2016 Asset retirement obligations, beginning of period $ 119,945 Liabilities incurred from new wells 1,474 Liabilities assumed in acquisitions 902 Accretion expense 5,226 Disposition of wells (970) Liabilities settled upon plugging and abandoning wells (1,343) Asset retirement obligations, end of period $ 125,234

Incentive plans

Incentive plans	9 Months Ended
	Sep. 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 nine months ended September 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) 429,744 - 161,361 Options exercised - (20,776) - Awards cancelled / forfeited (76,645) - (9,285) Lapse of restrictions (394,704) - - Outstanding at September 30, 2016 1,158,042 22,125 467,831 (a) Weighted average grant date fair value per share $ 111.70 $ - $ 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 September 30, 2016 : (in thousands) Remaining 2016 $ 16,600 2017 44,414 2018 22,059 2019 4,882 2020 158 Total $ 88,113

Disclosures about fair value me

Disclosures about fair value measurements	9 Months Ended
	Sep. 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 requir e 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 consider various input s 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 September 30, 2016 and December 31, 2015 : September 30, 2016 December 31, 2015 Carrying Fair Carrying Fair (in thousands) Value Value Value Value Assets: Derivative instruments $ 119,175 $ 119,175 $ 819,536 $ 819,536 Liabilities: Derivative instruments $ 57,348 $ 57,348 $ - $ - $600 million 7.0% senior notes due 2021 (a) $ - $ - $ 592,414 $ 595,500 $600 million 6.5% senior notes due 2022 (a) $ 592,420 $ 622,500 $ 591,549 $ 579,000 $600 million 5.5% senior notes due 2022 (a) $ 593,560 $ 619,500 $ 592,899 $ 553,500 $1,550 million 5.5% senior notes due 2023 (a) $ 1,554,867 $ 1,624,033 $ 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 September 30, 2016 and December 31, 2015 . The Company nets the fair value of derivative instruments by counterparty in the Company’s consolidated balance sheets. September 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 $ - $ 154,620 $ - $ 154,620 $ (35,445) $ 119,175 Noncurrent: Commodity derivatives - 8,659 - 8,659 (8,659) - Liabilities: Current: Commodity derivatives - (38,953) - (38,953) 35,445 (3,508) Noncurrent: Commodity derivatives - (62,499) - (62,499) 8,659 (53,840) Net derivative instruments $ - $ 61,827 $ - $ 61,827 $ - $ 61,827 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 September 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 September 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 $48.53 per barrel of oil and $3.02 per Mcf of natural gas to a 2023 price of $58.82 per barrel of oil and $3.23 per Mcf of natural gas. Commodity prices for this purpose were held flat af ter 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) prevailin g 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. D uring 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 flow s 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	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Gain (loss) on derivatives: Oil derivatives $ 35,691 $ 404,012 $ (172,974) $ 367,743 Natural gas derivatives 5,495 9,118 (2,692) 13,328 Total $ 41,186 $ 413,130 $ (175,666) $ 381,071 The following table represents the Company’s net cash receipts from derivatives for the three and nine months ended September 30, 2016 and 2015: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Net cash receipts from derivatives: Oil derivatives $ 153,823 $ 155,732 $ 565,918 $ 419,047 Natural gas derivatives 1,541 8,301 16,125 24,394 Total $ 155,364 $ 164,033 $ 582,043 $ 443,441 Commodity derivative contracts at September 30, 2016 . The following table sets forth the Company’s outstanding derivative contracts at September 30, 2016 . When aggregating multiple contracts, the weighted average contract price is disclosed. All of the Company’s derivative contracts at September 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) 5,054,000 5,054,000 Price per Bbl $ 59.38 $ 59.38 2017: Volume (Bbl) 5,839,400 5,359,200 4,987,400 4,679,500 20,865,500 Price per Bbl $ 57.90 $ 58.56 $ 50.96 $ 51.23 $ 54.91 2018: Volume (Bbl) 3,000,000 3,000,000 3,000,000 3,000,000 12,000,000 Price per Bbl $ 49.40 $ 49.40 $ 49.40 $ 49.40 $ 49.40 Oil Basis Swaps: (b) 2016: Volume (Bbl) 5,060,000 5,060,000 Price per Bbl $ (1.48) $ (1.48) 2017: Volume (Bbl) 5,838,000 5,368,000 4,324,000 4,324,000 19,854,000 Price per Bbl $ (1.06) $ (1.10) $ (0.47) $ (0.47) $ (0.81) Natural Gas Swaps: (c) 2016: Volume (MMBtu) 7,360,000 7,360,000 Price per MMBtu $ 3.02 $ 3.02 2017: Volume (MMBtu) 12,335,315 11,531,642 10,770,441 10,580,000 45,217,398 Price per MMBtu $ 3.03 $ 3.02 $ 3.02 $ 3.01 $ 3.02 (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.

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Note 9 . Debt The Company’s debt consisted of the following at September 30, 2016 and December 31, 2015 : September 30, December 31, (in thousands) 2016 2015 Credit facility $ - $ - 7.0% unsecured senior notes due 2021 - 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 22,913 25,073 Senior notes issuance costs, net (32,066) (42,885) Less: current portion - - Total long-term debt $ 2,740,847 $ 3,332,188 Credit facility. The Company’s credit facility , as amended and restated, has a maturity date of May 9, 2019 . At September 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 September 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 unconditionally guaranteed on a senior unsecured basis by all subsidiaries of the Company, subject to customary release provisions as described in Note 15 . In September 2016, the Company redeemed the $600 million outstanding principal amount of its 7.0% unsecured senior notes due 2021 (the “7.0% Notes”) at a price equal to 103.5 percent of par. The redemption price included the make-whole premium for the early redemption, as determined in accordance with the inden ture governing the 7.0% Notes. The Company also paid accrued and unpaid interest on the 7.0% Notes through September 19, 2016, the redemption date. The Company recorded a loss on extinguishment of debt related to the redemption of the 7.0% Notes of approximately $ 27.7 million for the three and nine months ended September 30, 2016 . This am ount includes $21.0 million associated with t he make-whole premium paid f or the early redemption of the notes and approximately $6.7 million of unamortized deferred loan costs. At September 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 September 30, 2016 were as follows: (in thousands) Remaining 2016 $ - 2017 - 2018 - 2019 - 2020 - 2021 - Thereafter 2,750,000 Total $ 2,750,000 Interest expense. The following amounts have been incurred and charged to interest expense for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Cash payments for interest $ 109,008 $ 43,952 $ 214,515 $ 149,184 Amortization of original issue premium (729) (692) (2,160) (2,046) Amortization of deferred loan origination costs 2,548 2,502 7,661 7,447 Accretion expense 483 - 1,454 - Net changes in accruals (58,316) 9,427 (59,584) 10,044 Interest costs incurred 52,994 55,189 161,886 164,629 Less: capitalized interest - (1,437) (252) (3,826) Total interest expense $ 52,994 $ 53,752 $ 161,634 $ 160,803

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 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 September 30, 2016 and December 31, 2015 , the Company had $ 14.2 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 September 30, 2016 : (in thousands) Remaining 2016 $ 19,748 2017 29,782 2018 60,550 2019 17,528 2020 11,412 2021 7,077 Thereafter 36,189 Total $ 182,286 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 September 30, 2016 and 2015 were approximately $ 2.0 million each , and approximately $ 6.2 million and $ 5.9 million for the nine months ended September 30, 2016 and 2015 , respectively . Future minimum lease commitments under non-c ancellable operating leases at September 30, 2016 were as follows: (in thousands) Remaining 2016 $ 2,266 2017 8,860 2018 7,848 2019 6,317 2020 4,938 2021 4,175 Thereafter 994 Total $ 35,398

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income taxes	Note 11 . Income taxes The effective income tax rate s w ere 37.3 percent and 33.8 percent for the three months ended September 30, 2016 and 2015 , respectively , and 36.9 percent and 27.5 percent for the nine months ended September 30, 2016 and 2015 , respectively . Total income tax expense ( benefit) for the three and nine months ended September 30, 2016 and 2015 differed from amounts computed by applying the United States federal statutory tax rates to pre-tax income ( loss) due primarily to state taxes and the impact of permanent differences between book and taxable income.

Related party transactions

Related party transactions	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Amounts paid to a partnership in which a director has an ownership interest (a) $ 1,032 $ 1,418 $ 3,176 $ 4,515 Amounts paid to a director and certain officers of the Company (b) $ 12 $ 20 $ 247 $ 575 Amounts received from certain officers of the Company (c) $ 15 $ 79 $ 35 $ 146 (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	9 Months Ended
	Sep. 30, 2016
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Net income per share	Note 13 . Net income ( loss) per share The Company uses the two-class method of calculating net income ( 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 income ( loss) from operations and income ( loss) attributable to common stockholders to the basic and diluted earnings used to determine the Company’s net income ( loss) per share amounts for the three and nine months ended September 30, 2016 and 2015 , resp ectively, unde r the two-class method: Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except per share amounts) 2016 2015 2016 2015 Net income (loss) as reported $ (51,146) $ 179,659 $ (1,337,311) $ 66,688 Participating basic earnings (a) - (1,850) - (648) Basic income (loss) attributable to common stockholders (51,146) 177,809 (1,337,311) 66,040 Reallocation of participating earnings - 5 - 3 Diluted income (loss) attributable to common stockholders $ (51,146) $ 177,814 $ (1,337,311) $ 66,043 Income (loss) per common share: Basic $ (0.38) $ 1.49 $ (10.18) $ 0.56 Diluted $ (0.38) $ 1.49 $ (10.18) $ 0.56 (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 nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Weighted average common shares outstanding: Basic 135,454 119,058 131,417 117,363 Dilutive common stock options - 24 - 25 Dilutive performance units - 333 - 433 Diluted 135,454 119,415 131,417 117,821 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 .

Stockholders' equity

Stockholders' equity	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Disclosure [Abstract]
Stockholders' equity	Note 14 . Stockholders’ equity Public common stock offering. In August 2016, the Company issued approximately 10.4 million shares of its common stock in a public offering at $ 130.90 per share and received net proceeds of approximately $ 1.3 billion.

Subsidiary guarantors

Subsidiary guarantors	9 Months Ended
	Sep. 30, 2016
Guarantees [Abstract]
Subsidiary guarantors	Note 15 . 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 September 30, 2016 and December 31, 2015 , condensed c o nsolidating statements of o perations for the three and nine months ended September 30, 2016 and 2015 and condensed consolidating statements of cash flows for the nine months ended September 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 September 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total ASSETS Accounts receivable - related parties $ 9,604,234 $ 888,394 $ (10,492,628) $ - Other current assets 189,409 1,529,401 - 1,718,810 Oil and natural gas properties, net - 9,365,764 - 9,365,764 Property and equipment, net - 181,267 - 181,267 Investment in subsidiaries 1,942,849 - (1,942,849) - Other long-term assets 16,155 288,638 - 304,793 Total assets $ 11,752,647 $ 12,253,464 $ (12,435,477) $ 11,570,634 LIABILITIES AND EQUITY Accounts payable - related parties $ 888,394 $ 9,604,234 $ (10,492,628) $ - Other current liabilities 12,217 560,431 - 572,648 Long-term debt 2,740,847 - - 2,740,847 Other long-term liabilities 916,606 145,950 - 1,062,556 Equity 7,194,583 1,942,849 (1,942,849) 7,194,583 Total liabilities and equity $ 11,752,647 $ 12,253,464 $ (12,435,477) $ 11,570,634 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 September 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 430,548 $ - $ 430,548 Total operating costs and expenses 40,583 (468,554) - (427,971) Income (loss) from operations 40,583 (38,006) - 2,577 Interest expense (52,148) (846) - (52,994) Loss on extinguishment of debt (27,670) - - (27,670) Other, net (42,285) (3,433) 42,285 (3,433) Loss before income taxes (81,520) (42,285) 42,285 (81,520) Income tax benefit 30,374 - - 30,374 Net loss $ (51,146) $ (42,285) $ 42,285 $ (51,146) Condensed Consolidating Statement of Operations Three Months Ended September 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 463,474 $ - $ 463,474 Total operating costs and expenses 412,490 (551,204) - (138,714) Income (loss) from operations 412,490 (87,730) - 324,760 Interest expense (53,752) - - (53,752) Other, net (87,206) 524 87,206 524 Income (loss) before income taxes 271,532 (87,206) 87,206 271,532 Income tax expense (91,873) - - (91,873) Net income (loss) $ 179,659 $ (87,206) $ 87,206 $ 179,659 Condensed Consolidating Statement of Operations Nine Months Ended September 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 1,110,411 $ - $ 1,110,411 Total operating costs and expenses (177,306) (2,853,205) - (3,030,511) Loss from operations (177,306) (1,742,794) - (1,920,100) Interest expense (159,094) (2,540) - (161,634) Loss on extinguishment of debt (27,670) - - (27,670) Other, net (1,755,636) (10,302) 1,755,636 (10,302) Loss before income taxes (2,119,706) (1,755,636) 1,755,636 (2,119,706) Income tax benefit 782,395 - - 782,395 Net loss $ (1,337,311) $ (1,755,636) $ 1,755,636 $ (1,337,311) Condensed Consolidating Statement of Operations Nine Months Ended September 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 1,414,421 $ - $ 1,414,421 Total operating costs and expenses 379,055 (1,532,795) - (1,153,740) Income (loss) from operations 379,055 (118,374) - 260,681 Interest expense (160,803) - - (160,803) Other, net (126,249) (7,875) 126,249 (7,875) Income (loss) before income taxes 92,003 (126,249) 126,249 92,003 Income tax expense (25,315) - - (25,315) Net income (loss) $ 66,688 $ (126,249) $ 126,249 $ 66,688 Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Net cash flows provided by (used in) operating activities $ (1,276,047) $ 1,713,348 $ - $ 437,301 Net cash flows provided by (used in) investing activities 582,043 (783,269) - (201,226) Net cash flows provided by financing activities 694,314 - - 694,314 Net increase in cash and cash equivalents 310 930,079 - 930,389 Cash and cash equivalents at beginning of period - 228,550 - 228,550 Cash and cash equivalents at end of period $ 310 $ 1,158,629 $ - $ 1,158,939 Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Net cash flows provided by (used in) operating activities $ (1,489,475) $ 2,250,068 $ - $ 760,593 Net cash flows provided by (used in) investing activities 443,441 (2,267,269) - (1,823,828) Net cash flows provided by financing activities 1,046,034 17,200 - 1,063,234 Net decrease in cash and cash equivalents - (1) - (1) Cash and cash equivalents at beginning of period - 21 - 21 Cash and cash equivalents at end of period $ - $ 20 $ - $ 20

Subsequent events

Subsequent events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent events	Note 16. Subsequent events Asset acquisition. In October 2016, the Company completed an acquisition of approximately 40,000 net acres in the Northern Midland Basin and other assets from Reliance Energy, Inc. for approximately $1.7 billion. As consideration for the acquisition, the Company paid approximately $1.2 billion in cash and issued to the seller approximately 3.9 million shares of common stock with an approximate value of $0.5 billion. New commodity derivative contracts. After September 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) 2017: Volume (Bbl) 1,021,470 989,280 866,970 785,580 3,663,300 Price per Bbl $ 52.64 $ 52.76 $ 52.90 $ 52.95 $ 52.80 2018: Volume (Bbl) 665,190 783,340 710,310 648,700 2,807,540 Price per Bbl $ 54.46 $ 54.37 $ 54.39 $ 54.42 $ 54.41 Oil Basis Swaps: (b) 2017: Volume (Bbl) 450,000 455,000 644,000 644,000 2,193,000 Price per Bbl $ (0.60) $ (0.60) $ (0.60) $ (0.60) $ (0.60) Natural Gas Swaps: (c) 2018: Volume (MMBtu) 1,800,000 1,820,000 1,840,000 1,840,000 7,300,000 Price per MMBtu $ 3.01 $ 3.01 $ 3.01 $ 3.01 $ 3.01 (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	9 Months Ended
	Sep. 30, 2016
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Supplementary information	Note 17. Supplementary information Capitalized costs September 30, December 31, (in thousands) 2016 2015 Oil and natural gas properties: Proved $ 15,822,815 $ 14,940,259 Unproved 946,454 906,048 Less: accumulated depletion (7,403,505) (5,047,810) Net capitalized costs for oil and natural gas properties $ 9,365,764 $ 10,798,497 Costs incurred for oil and natural gas producing activities Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Property acquisition costs: Proved $ 546 $ 56,636 $ 256,655 $ 58,879 Unproved 15,079 161,921 172,486 195,971 Exploration 176,687 201,737 513,109 973,957 Development 96,977 99,490 287,120 622,644 Total costs incurred for oil and natural gas properties $ 289,289 $ 519,784 $ 1,229,370 $ 1,851,451

Summary of significant accoun25

Summary of significant accounting policies (Policies)	9 Months Ended
	Sep. 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 im pact on net income ( 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 America requir es 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 expenses during the reporting periods. Actual results could differ from these estimates. Depletion of oil and natural gas properties is determined using estimates of proved oil and natural gas reserves. There are numerous uncertainties inherent in the estimation of quant ities 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 uncertainties inclu ding, 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, fair value o f 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 $ 128.5 million and $ 98.9 million at September 30, 2016 and December 31, 2015 , respectively, and is included in other assets in the Company’s consolidated balance sheets. The equity loss is included in other expense in the Company’s consolidated statements of operations and was approximately $ 0.4 million and $ 1.0 million for the three months ended September 30, 2016 and 2015 , respectively, and approximately $ 2.3 million and $ 2.7 million for the nine months ended September 30, 2016 and 2015 , respectively . During the three and nine months ended September 30, 2015 , the Company recorded $ 1.0 mil lion and $ 2.5 million , respectively, 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 initial system is ope rational and substantially complete, and is expected to be fully 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 approximate ly $ 37.1 million and $ 20.8 million at September 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 three and nine months ended September 30, 2016 was approximately $ 0.2 million and $ 2.5 million , respectively, 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.
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 does not plan on early adopting this standard. Once adopted, the Com pany expects increased volatility in earnings and in the effective tax rate due to the excess tax benefits and deficiencies being recognized in the statement of operations.

Exploratory well costs (Tables)

Exploratory well costs (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 : Nine Months Ended (in thousands) September 30, 2016 Beginning capitalized exploratory well costs $ 116,198 Additions to exploratory well costs pending the determination of proved reserves 142,428 Reclassifications due to determination of proved reserves (86,192) Exploratory well costs charged to expense (5,707) Disposition of wells (17,339) Ending capitalized exploratory well costs $ 149,388
Aging of capitalized exploratory well costs based on the date drilling was completed	The following table provides an aging at September 30, 2016 and December 31, 2015 of capitalized exploratory well costs based on the date drilling was completed: September 30, December 31, (dollars in thousands) 2016 2015 Capitalized exploratory well costs that have been capitalized for a period of one year or less $ 140,966 $ 98,764 Capitalized exploratory well costs that have been capitalized for a period greater than one year 8,422 17,434 Total capitalized exploratory well costs $ 149,388 $ 116,198 Number of projects with exploratory well costs that have been capitalized for a period greater than one year 7 8

Asset retirement obligations (T

Asset retirement obligations (Tables)	9 Months Ended
	Sep. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations	The followi ng table summarizes the Company ’ s asset retirement obligation activity during the nine months ended September 30, 2016 : Nine Months Ended (in thousands) September 30, 2016 Asset retirement obligations, beginning of period $ 119,945 Liabilities incurred from new wells 1,474 Liabilities assumed in acquisitions 902 Accretion expense 5,226 Disposition of wells (970) Liabilities settled upon plugging and abandoning wells (1,343) Asset retirement obligations, end of period $ 125,234

Incentive plans (Tables)

Incentive plans (Tables)	9 Months Ended
	Sep. 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 nine months ended September 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) 429,744 - 161,361 Options exercised - (20,776) - Awards cancelled / forfeited (76,645) - (9,285) Lapse of restrictions (394,704) - - Outstanding at September 30, 2016 1,158,042 22,125 467,831 (a) Weighted average grant date fair value per share $ 111.70 $ - $ 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 September 30, 2016 : (in thousands) Remaining 2016 $ 16,600 2017 44,414 2018 22,059 2019 4,882 2020 158 Total $ 88,113

Disclosures about fair value 29

Disclosures about fair value measurements (Tables)	9 Months Ended
	Sep. 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 September 30, 2016 and December 31, 2015 : September 30, 2016 December 31, 2015 Carrying Fair Carrying Fair (in thousands) Value Value Value Value Assets: Derivative instruments $ 119,175 $ 119,175 $ 819,536 $ 819,536 Liabilities: Derivative instruments $ 57,348 $ 57,348 $ - $ - $600 million 7.0% senior notes due 2021 (a) $ - $ - $ 592,414 $ 595,500 $600 million 6.5% senior notes due 2022 (a) $ 592,420 $ 622,500 $ 591,549 $ 579,000 $600 million 5.5% senior notes due 2022 (a) $ 593,560 $ 619,500 $ 592,899 $ 553,500 $1,550 million 5.5% senior notes due 2023 (a) $ 1,554,867 $ 1,624,033 $ 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 September 30, 2016 and December 31, 2015 . The Company nets the fair value of derivative instruments by counterparty in the Company’s consolidated balance sheets. September 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 $ - $ 154,620 $ - $ 154,620 $ (35,445) $ 119,175 Noncurrent: Commodity derivatives - 8,659 - 8,659 (8,659) - Liabilities: Current: Commodity derivatives - (38,953) - (38,953) 35,445 (3,508) Noncurrent: Commodity derivatives - (62,499) - (62,499) 8,659 (53,840) Net derivative instruments $ - $ 61,827 $ - $ 61,827 $ - $ 61,827 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 instrume30

Derivative financial instruments (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Gain (loss) on derivatives: Oil derivatives $ 35,691 $ 404,012 $ (172,974) $ 367,743 Natural gas derivatives 5,495 9,118 (2,692) 13,328 Total $ 41,186 $ 413,130 $ (175,666) $ 381,071 The following table represents the Company’s net cash receipts from derivatives for the three and nine months ended September 30, 2016 and 2015: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Net cash receipts from derivatives: Oil derivatives $ 153,823 $ 155,732 $ 565,918 $ 419,047 Natural gas derivatives 1,541 8,301 16,125 24,394 Total $ 155,364 $ 164,033 $ 582,043 $ 443,441
Company's outstanding derivative contracts	The following table sets forth the Company’s outstanding derivative contracts at September 30, 2016 . When aggregating multiple contracts, the weighted average contract price is disclosed. All of the Company’s derivative contracts at September 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) 5,054,000 5,054,000 Price per Bbl $ 59.38 $ 59.38 2017: Volume (Bbl) 5,839,400 5,359,200 4,987,400 4,679,500 20,865,500 Price per Bbl $ 57.90 $ 58.56 $ 50.96 $ 51.23 $ 54.91 2018: Volume (Bbl) 3,000,000 3,000,000 3,000,000 3,000,000 12,000,000 Price per Bbl $ 49.40 $ 49.40 $ 49.40 $ 49.40 $ 49.40 Oil Basis Swaps: (b) 2016: Volume (Bbl) 5,060,000 5,060,000 Price per Bbl $ (1.48) $ (1.48) 2017: Volume (Bbl) 5,838,000 5,368,000 4,324,000 4,324,000 19,854,000 Price per Bbl $ (1.06) $ (1.10) $ (0.47) $ (0.47) $ (0.81) Natural Gas Swaps: (c) 2016: Volume (MMBtu) 7,360,000 7,360,000 Price per MMBtu $ 3.02 $ 3.02 2017: Volume (MMBtu) 12,335,315 11,531,642 10,770,441 10,580,000 45,217,398 Price per MMBtu $ 3.03 $ 3.02 $ 3.02 $ 3.01 $ 3.02 (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)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Company's debt	The Company’s debt consisted of the following at September 30, 2016 and December 31, 2015 : September 30, December 31, (in thousands) 2016 2015 Credit facility $ - $ - 7.0% unsecured senior notes due 2021 - 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 22,913 25,073 Senior notes issuance costs, net (32,066) (42,885) Less: current portion - - Total long-term debt $ 2,740,847 $ 3,332,188
Principal maturities of debt	Principal maturities of long -term debt outstanding at September 30, 2016 were as follows: (in thousands) Remaining 2016 $ - 2017 - 2018 - 2019 - 2020 - 2021 - Thereafter 2,750,000 Total $ 2,750,000
Interest expense	The following amounts have been incurred and charged to interest expense for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Cash payments for interest $ 109,008 $ 43,952 $ 214,515 $ 149,184 Amortization of original issue premium (729) (692) (2,160) (2,046) Amortization of deferred loan origination costs 2,548 2,502 7,661 7,447 Accretion expense 483 - 1,454 - Net changes in accruals (58,316) 9,427 (59,584) 10,044 Interest costs incurred 52,994 55,189 161,886 164,629 Less: capitalized interest - (1,437) (252) (3,826) Total interest expense $ 52,994 $ 53,752 $ 161,634 $ 160,803

Commitments and contingencies (

Commitments and contingencies (Tables)	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Summary of the Company's future commitments	The following table s ummarizes the Company’s commitments at September 30, 2016 : (in thousands) Remaining 2016 $ 19,748 2017 29,782 2018 60,550 2019 17,528 2020 11,412 2021 7,077 Thereafter 36,189 Total $ 182,286
Future minimum lease commitments under non-cancellable operating leases	Future minimum lease commitments under non-c ancellable operating leases at September 30, 2016 were as follows: (in thousands) Remaining 2016 $ 2,266 2017 8,860 2018 7,848 2019 6,317 2020 4,938 2021 4,175 Thereafter 994 Total $ 35,398

Related party transactions (Tab

Related party transactions (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Amounts paid to a partnership in which a director has an ownership interest (a) $ 1,032 $ 1,418 $ 3,176 $ 4,515 Amounts paid to a director and certain officers of the Company (b) $ 12 $ 20 $ 247 $ 575 Amounts received from certain officers of the Company (c) $ 15 $ 79 $ 35 $ 146 (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)	9 Months Ended
	Sep. 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 income ( loss) from operations and income ( loss) attributable to common stockholders to the basic and diluted earnings used to determine the Company’s net income ( loss) per share amounts for the three and nine months ended September 30, 2016 and 2015 , resp ectively, unde r the two-class method: Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except per share amounts) 2016 2015 2016 2015 Net income (loss) as reported $ (51,146) $ 179,659 $ (1,337,311) $ 66,688 Participating basic earnings (a) - (1,850) - (648) Basic income (loss) attributable to common stockholders (51,146) 177,809 (1,337,311) 66,040 Reallocation of participating earnings - 5 - 3 Diluted income (loss) attributable to common stockholders $ (51,146) $ 177,814 $ (1,337,311) $ 66,043 Income (loss) per common share: Basic $ (0.38) $ 1.49 $ (10.18) $ 0.56 Diluted $ (0.38) $ 1.49 $ (10.18) $ 0.56 (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 nine months ended September 30, 2016 and 2015 : Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Weighted average common shares outstanding: Basic 135,454 119,058 131,417 117,363 Dilutive common stock options - 24 - 25 Dilutive performance units - 333 - 433 Diluted 135,454 119,415 131,417 117,821

Subsidiary guarantors (Tables)

Subsidiary guarantors (Tables)	9 Months Ended
	Sep. 30, 2016
Guarantees [Abstract]
Condensed Consolidating Balance Sheet	The following condensed consolidating balance s heets at September 30, 2016 and December 31, 2015 , condensed c o nsolidating statements of o perations for the three and nine months ended September 30, 2016 and 2015 and condensed consolidating statements of cash flows for the nine months ended September 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 September 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total ASSETS Accounts receivable - related parties $ 9,604,234 $ 888,394 $ (10,492,628) $ - Other current assets 189,409 1,529,401 - 1,718,810 Oil and natural gas properties, net - 9,365,764 - 9,365,764 Property and equipment, net - 181,267 - 181,267 Investment in subsidiaries 1,942,849 - (1,942,849) - Other long-term assets 16,155 288,638 - 304,793 Total assets $ 11,752,647 $ 12,253,464 $ (12,435,477) $ 11,570,634 LIABILITIES AND EQUITY Accounts payable - related parties $ 888,394 $ 9,604,234 $ (10,492,628) $ - Other current liabilities 12,217 560,431 - 572,648 Long-term debt 2,740,847 - - 2,740,847 Other long-term liabilities 916,606 145,950 - 1,062,556 Equity 7,194,583 1,942,849 (1,942,849) 7,194,583 Total liabilities and equity $ 11,752,647 $ 12,253,464 $ (12,435,477) $ 11,570,634 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 September 30, 2016 and December 31, 2015 , condensed c o nsolidating statements of o perations for the three and nine months ended September 30, 2016 and 2015 and condensed consolidating statements of cash flows for the nine months ended September 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 September 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 430,548 $ - $ 430,548 Total operating costs and expenses 40,583 (468,554) - (427,971) Income (loss) from operations 40,583 (38,006) - 2,577 Interest expense (52,148) (846) - (52,994) Loss on extinguishment of debt (27,670) - - (27,670) Other, net (42,285) (3,433) 42,285 (3,433) Loss before income taxes (81,520) (42,285) 42,285 (81,520) Income tax benefit 30,374 - - 30,374 Net loss $ (51,146) $ (42,285) $ 42,285 $ (51,146) Condensed Consolidating Statement of Operations Three Months Ended September 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 463,474 $ - $ 463,474 Total operating costs and expenses 412,490 (551,204) - (138,714) Income (loss) from operations 412,490 (87,730) - 324,760 Interest expense (53,752) - - (53,752) Other, net (87,206) 524 87,206 524 Income (loss) before income taxes 271,532 (87,206) 87,206 271,532 Income tax expense (91,873) - - (91,873) Net income (loss) $ 179,659 $ (87,206) $ 87,206 $ 179,659 Condensed Consolidating Statement of Operations Nine Months Ended September 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 1,110,411 $ - $ 1,110,411 Total operating costs and expenses (177,306) (2,853,205) - (3,030,511) Loss from operations (177,306) (1,742,794) - (1,920,100) Interest expense (159,094) (2,540) - (161,634) Loss on extinguishment of debt (27,670) - - (27,670) Other, net (1,755,636) (10,302) 1,755,636 (10,302) Loss before income taxes (2,119,706) (1,755,636) 1,755,636 (2,119,706) Income tax benefit 782,395 - - 782,395 Net loss $ (1,337,311) $ (1,755,636) $ 1,755,636 $ (1,337,311) Condensed Consolidating Statement of Operations Nine Months Ended September 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Total operating revenues $ - $ 1,414,421 $ - $ 1,414,421 Total operating costs and expenses 379,055 (1,532,795) - (1,153,740) Income (loss) from operations 379,055 (118,374) - 260,681 Interest expense (160,803) - - (160,803) Other, net (126,249) (7,875) 126,249 (7,875) Income (loss) before income taxes 92,003 (126,249) 126,249 92,003 Income tax expense (25,315) - - (25,315) Net income (loss) $ 66,688 $ (126,249) $ 126,249 $ 66,688
Condensed Consolidating Statement of Cash Flows	The following condensed consolidating balance s heets at September 30, 2016 and December 31, 2015 , condensed c o nsolidating statements of o perations for the three and nine months ended September 30, 2016 and 2015 and condensed consolidating statements of cash flows for the nine months ended September 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 Nine Months Ended September 30, 2016 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Net cash flows provided by (used in) operating activities $ (1,276,047) $ 1,713,348 $ - $ 437,301 Net cash flows provided by (used in) investing activities 582,043 (783,269) - (201,226) Net cash flows provided by financing activities 694,314 - - 694,314 Net increase in cash and cash equivalents 310 930,079 - 930,389 Cash and cash equivalents at beginning of period - 228,550 - 228,550 Cash and cash equivalents at end of period $ 310 $ 1,158,629 $ - $ 1,158,939 Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2015 Parent Subsidiary Consolidating (in thousands) Issuer Guarantors Entries Total Net cash flows provided by (used in) operating activities $ (1,489,475) $ 2,250,068 $ - $ 760,593 Net cash flows provided by (used in) investing activities 443,441 (2,267,269) - (1,823,828) Net cash flows provided by financing activities 1,046,034 17,200 - 1,063,234 Net decrease in cash and cash equivalents - (1) - (1) Cash and cash equivalents at beginning of period - 21 - 21 Cash and cash equivalents at end of period $ - $ 20 $ - $ 20

Subsequent events (Tables)

Subsequent events (Tables)	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
New commodity derivative contracts	After September 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) 2017: Volume (Bbl) 1,021,470 989,280 866,970 785,580 3,663,300 Price per Bbl $ 52.64 $ 52.76 $ 52.90 $ 52.95 $ 52.80 2018: Volume (Bbl) 665,190 783,340 710,310 648,700 2,807,540 Price per Bbl $ 54.46 $ 54.37 $ 54.39 $ 54.42 $ 54.41 Oil Basis Swaps: (b) 2017: Volume (Bbl) 450,000 455,000 644,000 644,000 2,193,000 Price per Bbl $ (0.60) $ (0.60) $ (0.60) $ (0.60) $ (0.60) Natural Gas Swaps: (c) 2018: Volume (MMBtu) 1,800,000 1,820,000 1,840,000 1,840,000 7,300,000 Price per MMBtu $ 3.01 $ 3.01 $ 3.01 $ 3.01 $ 3.01 (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)	9 Months Ended
	Sep. 30, 2016
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Capitalized costs	Capitalized costs September 30, December 31, (in thousands) 2016 2015 Oil and natural gas properties: Proved $ 15,822,815 $ 14,940,259 Unproved 946,454 906,048 Less: accumulated depletion (7,403,505) (5,047,810) Net capitalized costs for oil and natural gas properties $ 9,365,764 $ 10,798,497
costs incurred for oil and natural gas producing activities	Costs incurred for oil and natural gas producing activities Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2016 2015 2016 2015 Property acquisition costs: Proved $ 546 $ 56,636 $ 256,655 $ 58,879 Unproved 15,079 161,921 172,486 195,971 Exploration 176,687 201,737 513,109 973,957 Development 96,977 99,490 287,120 622,644 Total costs incurred for oil and natural gas properties $ 289,289 $ 519,784 $ 1,229,370 $ 1,851,451

Summary Of Significant Accoun38

Summary Of Significant Accounting Policies (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Alpha Crude Connector [Member]
Equity Method Investments [Line Items]
Total equity method investment	$ 128.5		$ 128.5		$ 98.9
Equity method investment ownership percentage	50.00%		50.00%
Loss from equity method investments	$ (0.4)	$ (1)	$ (2.3)	$ (2.7)
Interest costs capitalized on equity method investment		$ 1		$ 2.5
Other [Member]
Equity Method Investments [Line Items]
Total equity method investment	$ 37.1		$ 37.1		$ 20.8
Equity method investment ownership percentage	25.00%		25.00%
Loss from equity method investments	$ (0.2)		$ (2.5)

Exploratory Well Costs (Capital

Exploratory Well Costs (Capitalized Exploratory Well Activity) (Detail) $ in Thousands	9 Months Ended
	Sep. 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	142,428
Reclassifications due to determination of proved reserves	(86,192)
Exploratory well costs charged to expense	5,707
Disposition of wells	(17,339)
Ending capitalized exploratory well costs	$ 149,388

Exploratory Well Costs (Aging O

Exploratory Well Costs (Aging Of Capitalized Exploratory Well Costs Based On The Date Of Drilling) (Detail) $ in Thousands	Sep. 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	$ 140,966	$ 98,764
Capitalized exploratory well costs that have been capitalized for a period greater than one year	8,422	17,434
Total capitalized exploratory well costs	$ 149,388	$ 116,198
Projects that have Exploratory Well Costs that have been Capitalized for Period Greater than One Year, Number of Projects | Number	7	8

Exploratory Well Costs (Narrati

Exploratory Well Costs (Narrative) (Detail) - USD ($) $ in Thousands	Sep. 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	$ 8,422	$ 17,434
Projects Operated by Others [Member]
Oil And Gas In Process Activities [Line Items]
Capitalized Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year	1,900
Delaware Basin Project [Member]
Oil And Gas In Process Activities [Line Items]
Capitalized Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year	4,800
Midland Basin Project [Member]
Oil And Gas In Process Activities [Line Items]
Capitalized Exploratory Well Costs That Have Been Capitalized For Period Greater Than One Year	$ 1,700

Acquisitions And Divestitures (

Acquisitions And Divestitures (Narrative) (Detail) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	9 Months Ended
	Oct. 31, 2016	Sep. 30, 2016	Sep. 30, 2015
Disclosure Acquisitions And Divestitures Narrative [Abstract]
Acquisition Date		Mar. 21, 2016
Common stock issued in business combination (Shares)	3,900	2,214
Common stock issued in business combination	$ 500,000	$ 230,828	$ 0
Cash consideration paid for acquisition	$ 1,200,000	145,700
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

Asset Retirement Obligations (S

Asset Retirement Obligations (Schedule Of Asset Retirement Obligation Transactions) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 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			1,474
Liabilities assumed in acquisitions			902
Accretion expense	$ 1,769	$ 1,853	5,226	$ 5,894
Disposition of wells			(970)
Liabilities settled upon plugging and abandoning wells			(1,343)
Asset retirement obligations, end of period	$ 125,234		$ 125,234

Incentive Plans (Summary of Sto

Incentive Plans (Summary of Stock-Based Award Activity) (Detail) - $ / shares		9 Months Ended
		Sep. 30, 2016	Dec. 31, 2015
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding		1,158,042	1,199,647
Awards granted	[1]	429,744
Awards cancelled / forfeited		(76,645)
Lapse of restrictions		(394,704)
Weighted average grant date fair value per share		$ 111.7
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 $111.7
[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	Sep. 30, 2016USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Remaining 2,016	$ 16,600
2,017	44,414
2,018	22,059
2,019	4,882
2,020	158
Total	$ 88,113

Disclosures About Fair Value 46

Disclosures About Fair Value Measurements (Narrative) (Detail) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)	Sep. 30, 2016	Dec. 31, 2023$ / bbl$ / Mcf	Dec. 31, 2016$ / bbl$ / Mcf
Disclosure Fair Value Narrative [Abstract]
Management Estimate of Future Oil Price | $ / bbl			58.82	48.53
Management Estimate of Future Natural Gas Price | $ / Mcf			3.23	3.02
Annual discount rate		10.00%
Carrying Amount	$ 3,437,612
Impairment Expense	$ 1,524,645

Disclosures About Fair Value 47

Disclosures About Fair Value Measurements (Carrying Amounts And Fair Values Of The Company's Financial Instruments) (Detail) - USD ($)		Sep. 30, 2016	Dec. 31, 2015
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative instruments, Assets		$ 119,175,000	$ 819,536,000
Derivative instruments, Liabilities		57,348,000	0
Seven Point Zero Percent Unsecured Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		0	595,500,000
Six Point Five Percent Unsecured Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		622,500,000	579,000,000
Five Point Five Percent Unsecured Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Unsecured senior notes		619,500,000	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		1,624,033,000	1,453,005,000
Carrying Reported Amount Fair Value Disclosure [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative instruments, Assets		119,175,000	819,536,000
Derivative instruments, Liabilities		57,348,000	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]	0	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]	592,420,000	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]	593,560,000	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]	$ 1,554,867,000	$ 1,555,326,000
[1]	The carrying value includes associated deferred loan costs and any premium.

Disclosures About Fair Value 48

Disclosures About Fair Value Measurements (Company's Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value Of Derivatives Disclosure Information [Line Items]
Current derivative contracts, assets	$ 119,175	$ 652,498
Noncurrent derivative contracts, assets	0	167,038
Current derivative contracts, liabilities	(3,508)	0
Noncurrent derivative contracts, liabilities	(53,840)	0
Net financial assets (liabilities)	61,827	819,536
Estimate Of Fair Value Fair Value Disclosure [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Current derivative contracts, assets	154,620	684,029
Noncurrent derivative contracts, assets	8,659	175,267
Current derivative contracts, liabilities	(38,953)	(31,531)
Noncurrent derivative contracts, liabilities	(62,499)	(8,229)
Net financial assets (liabilities)	61,827	819,536
Gross Amounts Offset in Consolidated Balance Sheet [Member]
Fair Value Of Derivatives Disclosure Information [Line Items]
Current derivative contracts, assets	(35,445)	(31,531)
Noncurrent derivative contracts, assets	(8,659)	(8,229)
Current derivative contracts, liabilities	35,445	31,531
Noncurrent derivative contracts, liabilities	8,659	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	154,620	684,029
Noncurrent derivative contracts, assets	8,659	175,267
Current derivative contracts, liabilities	(38,953)	(31,531)
Noncurrent derivative contracts, liabilities	(62,499)	(8,229)
Net financial assets (liabilities)	61,827	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 49

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 Instrume50

Derivative Financial Instruments (Gains And Losses Reported In Earnings Related To Commodity Derivative Instruments) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Financial Instruments Gains And Losses Reported In Earnings Related To Commodity Derivative Instruments [Line Items]
Net settlements received from (paid on) derivatives	$ 155,364	$ 164,033	$ 582,043	$ 443,441
Gain (loss) on derivatives	41,186	413,130	(175,666)	381,071
Oil Commodity Derivative [Member]
Derivative Financial Instruments Gains And Losses Reported In Earnings Related To Commodity Derivative Instruments [Line Items]
Net settlements received from (paid on) derivatives	153,823	155,732	565,918	419,047
Gain (loss) on derivatives	35,691	404,012	(172,974)	367,743
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 (paid on) derivatives	1,541	8,301	16,125	24,394
Gain (loss) on derivatives	$ 5,495	$ 9,118	$ (2,692)	$ 13,328

Derivative Financial Instrume51

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	Dec. 31, 2018bbl$ / bbl	Dec. 31, 2017MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2016MMBTUbbl$ / bbl$ / MMBTU
Oil Swaps [Member]
Derivative [Line Items]
Volume - Current Year | bbl	[1]									5,054,000			5,054,000
Price - Current Year | $ / bbl	[1]									59.38			59.38
Volume - Year One | bbl	[1]					4,679,500	4,987,400	5,359,200	5,839,400			20,865,500
Price - Year One | $ / bbl	[1]					51.23	50.96	58.56	57.9			54.91
Volume - Year Two | bbl	[1]	3,000,000	3,000,000	3,000,000	3,000,000						12,000,000
Price - Year Two | $ / bbl	[1]	49.4	49.4	49.4	49.4						49.4
Oil Basis Swaps [Member]
Derivative [Line Items]
Volume - Current Year | bbl	[2]									5,060,000			5,060,000
Price - Current Year | $ / bbl	[2]									(1.48)			(1.48)
Volume - Year One | bbl	[2]					4,324,000	4,324,000	5,368,000	5,838,000			19,854,000
Price - Year One | $ / bbl	[2]					(0.47)	(0.47)	(1.1)	(1.06)			(0.81)
Natural Gas Swap [Member]
Derivative [Line Items]
Volume - Current Year | MMBTU	[3]									7,360,000			7,360,000
Price - Current Year | $ / MMBTU	[3]									3.02			3.02
Volume - Year One | MMBTU	[3]					10,580,000	10,770,441	11,531,642	12,335,315			45,217,398
Price - Year One | $ / MMBTU	[3]					3.01	3.02	3.02	3.03			3.02
[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.

Debt (Summary Of Long-Term Debt

Debt (Summary Of Long-Term Debt) (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Credit facility	$ 0	$ 0
Unamortized original issue premium	22,913	25,073
Senior notes issuance costs, net	(32,066)	(42,885)
Less: current portion	0	0
Total long-term debt	2,740,847	3,332,188
7.0% unsecured senior notes due 2021
Debt Instrument [Line Items]
Unsecured senior notes	0	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) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Debt Disclosure [Line Items]
Line of credit maturity date			May 9, 2019
Aggregate lender commitments	$ 2,500,000		$ 2,500,000
Aggregate maximum borrowing base	2,800,000		2,800,000
Loss on extinguishment of debt	(27,670)	$ 0	(27,670)	$ 0
Make-whole premium for early redemption			$ 21,000	$ 0
7.0% unsecured senior notes due 2021
Debt Disclosure [Line Items]
Redemption date			Sep. 19, 2016
Outstanding principal amount redeemed	$ 600,000		$ 600,000
Percent of par redeemed			103.50%
Loss on extinguishment of debt			$ 27,700
Make-whole premium for early redemption			21,000
Write-off of unamortized deferred loan costs			$ 6,700

Debt (Principal Maturities Of D

Debt (Principal Maturities Of Debt) (Detail) $ in Thousands	Sep. 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	0
Thereafter	2,750,000
Total	$ 2,750,000

Debt (Summary Of Interest Expen

Debt (Summary Of Interest Expense) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Disclosure Debt Summary Of Interest Expense [Abstract]
Cash payments for interest	$ (109,008)	$ (43,952)	$ (214,515)	$ (149,184)
Amortization of original issue premium	(729)	(692)	(2,160)	(2,046)
Amortization of deferred loan origination costs	2,548	2,502	7,661	7,447
Accretion expense	483	0	1,454	0
Net changes in accruals	(58,316)	9,427	(59,584)	10,044
Interest costs incurred	52,994	55,189	161,886	164,629
Less: capitalized interest	0	(1,437)	(252)	(3,826)
Total interest expense	$ 52,994	$ 53,752	$ 161,634	$ 160,803

Commitments And Contingencies56

Commitments And Contingencies (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Commitments [Line Items]
Operating leases, lease payments	$ 2	$ 2	$ 6.2	$ 5.9
Accrued Exposure	$ 14.2		$ 14.2		$ 13.4

Commitments And Contingencies57

Commitments And Contingencies (Future Commitments) (Detail) $ in Thousands	Sep. 30, 2016USD ($)
Disclosure Commitments And Contingencies Future Commitments [Abstract]
Remaining 2,016	$ 19,748
2,017	29,782
2,018	60,550
2,019	17,528
2,020	11,412
2,021	7,077
Thereafter	36,189
Total	$ 182,286

Commitments And Contingencies58

Commitments And Contingencies (Future Minimum Lease Commitments Under Non-Cancellable Operating Leases) (Detail) $ in Thousands	Sep. 30, 2016USD ($)
Disclosure Commitments And Contingencies Future Minimum Lease Commitments Under Non Cancellable Operating Leases [Abstract]
Remaining 2,016	$ 2,266
2,017	8,860
2,018	7,848
2,019	6,317
2,020	4,938
2,021	4,175
Thereafter	994
Total	$ 35,398

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Disclosure Income Taxes Narrative [Abstract]
Effective tax rate	37.30%	33.80%	36.90%	27.50%

Related Party Transactions (Sch

Related Party Transactions (Schedule Of Related Party Transactions) (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 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]	$ 1,032	$ 1,418	$ 3,176	$ 4,515
Director and Certain Officers [Member]
Related Party Transaction [Line Items]
Amounts paid	[2]	12	20	247	575
Amounts received	[3]	$ 15	$ 79	$ 35	$ 146
[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
	Sep. 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		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss)		$ (51,146)	$ 179,659	$ (1,337,311)	$ 66,688
Participating basic earnings	[1]	0	(1,850)	0	(648)
Basic net income (loss) attributable to common stockholders		(51,146)	177,809	(1,337,311)	66,040
Reallocation of participating earnings		0	5	0	3
Diluted net income (loss) attributable to common stockholders		$ (51,146)	$ 177,814	$ (1,337,311)	$ 66,043
Basic net income (loss)		$ (0.38)	$ 1.49	$ (10.18)	$ 0.56
Diluted net income (loss)		$ (0.38)	$ 1.49	$ (10.18)	$ 0.56
[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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Reconciliation Of Basic Weighted Average Common Shares Outstanding To Diluted Weighted Average Common Shares Outstanding [Line Items]
Basic	135,454	119,058	131,417	117,363
Diluted	135,454	119,415	131,417	117,821
Stock Options [Member]
Reconciliation Of Basic Weighted Average Common Shares Outstanding To Diluted Weighted Average Common Shares Outstanding [Line Items]
Dilutive shares	0	24	0	25
Performance Shares [Member]
Reconciliation Of Basic Weighted Average Common Shares Outstanding To Diluted Weighted Average Common Shares Outstanding [Line Items]
Dilutive shares	0	333	0	433

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Disclosure Stockholders' Equity Narrative [Abstract]
Issuance of common stock (Shares)	10,350
Shares issued price per share	$ 130.9
Net proceeds from issuance of common stock	$ 1,327,444	$ 741,509

Subsidiary Guarantors (Condense

Subsidiary Guarantors (Condensed Consolidating Balance Sheet) (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Accounts receivable - related parties	$ 0	$ 0
Other current assets	1,718,810	1,314,550
Oil and natural gas properties, net	9,365,764	10,798,497
Property and equipment, net	181,267	178,450
Investment in subsidiaries	0	0
Other long-term assets	304,793	350,379
Total assets	11,570,634	12,641,876
LIABILITIES AND EQUITY
Accounts payable - related parties	0	0
Other current liabilities	572,648	596,420
Long-term debt	2,740,847	3,332,188
Other long-term liabilities	1,062,556	1,770,717
Equity	7,194,583	6,942,551
Total liabilities and stockholders' equity	11,570,634	12,641,876
Consolidation Eliminations [Member]
ASSETS
Accounts receivable - related parties	(10,492,628)	(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	(1,942,849)	(3,698,485)
Other long-term assets	0	0
Total assets	(12,435,477)	(13,362,881)
LIABILITIES AND EQUITY
Accounts payable - related parties	(10,492,628)	(9,664,396)
Other current liabilities	0	0
Long-term debt	0	0
Other long-term liabilities	0	0
Equity	(1,942,849)	(3,698,485)
Total liabilities and stockholders' equity	(12,435,477)	(13,362,881)
Parent Company [Member]
ASSETS
Accounts receivable - related parties	9,604,234	8,502,099
Other current assets	189,409	753,716
Oil and natural gas properties, net	0	0
Property and equipment, net	0	0
Investment in subsidiaries	1,942,849	3,698,485
Other long-term assets	16,155	182,623
Total assets	11,752,647	13,136,923
LIABILITIES AND EQUITY
Accounts payable - related parties	888,394	1,162,297
Other current liabilities	12,217	69,514
Long-term debt	2,740,847	3,332,188
Other long-term liabilities	916,606	1,630,373
Equity	7,194,583	6,942,551
Total liabilities and stockholders' equity	11,752,647	13,136,923
Guarantor Subsidiaries [Member]
ASSETS
Accounts receivable - related parties	888,394	1,162,297
Other current assets	1,529,401	560,834
Oil and natural gas properties, net	9,365,764	10,798,497
Property and equipment, net	181,267	178,450
Investment in subsidiaries	0	0
Other long-term assets	288,638	167,756
Total assets	12,253,464	12,867,834
LIABILITIES AND EQUITY
Accounts payable - related parties	9,604,234	8,502,099
Other current liabilities	560,431	526,906
Long-term debt	0	0
Other long-term liabilities	145,950	140,344
Equity	1,942,849	3,698,485
Total liabilities and stockholders' equity	$ 12,253,464	$ 12,867,834

Subsidiary Guarantors (Conden66

Subsidiary Guarantors (Condensed Consolidating Statement Of Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Financial Statements Captions [Line Items]
Total operating revenues	$ 430,548	$ 463,474	$ 1,110,411	$ 1,414,421
Total operating costs and expenses	(427,971)	(138,714)	(3,030,511)	(1,153,740)
Income (loss) from operations	2,577	324,760	(1,920,100)	260,681
Interest expense	(52,994)	(53,752)	(161,634)	(160,803)
Loss on extinguishment of debt	(27,670)	0	(27,670)	0
Other, net	(3,433)	524	(10,302)	(7,875)
Income (loss) before income taxes	(81,520)	271,532	(2,119,706)	92,003
Income tax (expense) benefit	30,374	(91,873)	782,395	(25,315)
Net income (loss)	(51,146)	179,659	(1,337,311)	66,688
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
Income (loss) from operations	0	0	0	0
Interest expense	0	0	0	0
Loss on extinguishment of debt	0		0
Other, net	42,285	87,206	1,755,636	126,249
Income (loss) before income taxes	42,285	87,206	1,755,636	126,249
Income tax (expense) benefit	0	0	0	0
Net income (loss)	42,285	87,206	1,755,636	126,249
Parent Company [Member]
Condensed Financial Statements Captions [Line Items]
Total operating revenues	0	0	0	0
Total operating costs and expenses	40,583	412,490	(177,306)	379,055
Income (loss) from operations	40,583	412,490	(177,306)	379,055
Interest expense	(52,148)	(53,752)	(159,094)	(160,803)
Loss on extinguishment of debt	(27,670)		(27,670)
Other, net	(42,285)	(87,206)	(1,755,636)	(126,249)
Income (loss) before income taxes	(81,520)	271,532	(2,119,706)	92,003
Income tax (expense) benefit	30,374	(91,873)	782,395	(25,315)
Net income (loss)	(51,146)	179,659	(1,337,311)	66,688
Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Total operating revenues	430,548	463,474	1,110,411	1,414,421
Total operating costs and expenses	(468,554)	(551,204)	(2,853,205)	(1,532,795)
Income (loss) from operations	(38,006)	(87,730)	(1,742,794)	(118,374)
Interest expense	(846)	0	(2,540)	0
Loss on extinguishment of debt	0		0
Other, net	(3,433)	524	(10,302)	(7,875)
Income (loss) before income taxes	(42,285)	(87,206)	(1,755,636)	(126,249)
Income tax (expense) benefit	0	0	0	0
Net income (loss)	$ (42,285)	$ (87,206)	$ (1,755,636)	$ (126,249)

Subsidiary Guarantors (Conden67

Subsidiary Guarantors (Condensed Consolidating Statement Of Cash Flows) (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Condensed Financial Statements Captions [Line Items]
Net cash flows provided by (used in) operating activities	$ 437,301	$ 760,593
Net cash flows provided by (used in) investing activities	(201,226)	(1,823,828)
Net cash flows provided by (used in) financing activities	694,314	1,063,234
Net increase (decrease) in cash and cash equivalents	930,389	(1)
Cash and cash equivalents at beginning of period	228,550	21
Cash and cash equivalents at end of period	1,158,939	20
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	(1,276,047)	(1,489,475)
Net cash flows provided by (used in) investing activities	582,043	443,441
Net cash flows provided by (used in) financing activities	694,314	1,046,034
Net increase (decrease) in cash and cash equivalents	310	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	310	0
Guarantor Subsidiaries [Member]
Condensed Financial Statements Captions [Line Items]
Net cash flows provided by (used in) operating activities	1,713,348	2,250,068
Net cash flows provided by (used in) investing activities	(783,269)	(2,267,269)
Net cash flows provided by (used in) financing activities	0	17,200
Net increase (decrease) in cash and cash equivalents	930,079	(1)
Cash and cash equivalents at beginning of period	228,550	21
Cash and cash equivalents at end of period	$ 1,158,629	$ 20

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Detail) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	9 Months Ended
	Oct. 31, 2016	Sep. 30, 2016	Sep. 30, 2015
Subsequent Event [Line Items]
Common stock issued in business combination (Shares)	3,900	2,214
Common stock issued in business combination	$ 500,000	$ 230,828	$ 0
Total consideration paid to acquire	1,700,000
Cash consideration paid for acquisition	$ 1,200,000	$ 145,700

Subsequent Events (New Commodit

Subsequent Events (New Commodity Derivative Contracts) (Detail) - Minimum [Member]		3 Months Ended									12 Months Ended
		Dec. 31, 2018MMBTUbbl$ / bbl$ / MMBTU	Sep. 30, 2018MMBTUbbl$ / bbl$ / MMBTU	Jun. 30, 2018MMBTUbbl$ / bbl$ / MMBTU	Mar. 31, 2018MMBTUbbl$ / bbl$ / MMBTU	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	Dec. 31, 2018MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2017MMBTUbbl$ / bbl$ / MMBTU	Dec. 31, 2016MMBTUbbl$ / bbl$ / MMBTU
Oil Swaps [Member]
Subsequent Event [Line Items]
Volume - Current Year | bbl	[1]									5,054,000			5,054,000
Price - Current Year | $ / bbl	[1]									59.38			59.38
Volume - Year One | bbl	[1]					4,679,500	4,987,400	5,359,200	5,839,400			20,865,500
Price - Year One | $ / bbl	[1]					51.23	50.96	58.56	57.9			54.91
Volume - Year Two | bbl	[1]	3,000,000	3,000,000	3,000,000	3,000,000						12,000,000
Price - Year Two | $ / bbl	[1]	49.4	49.4	49.4	49.4						49.4
Oil Basis Swaps [Member]
Subsequent Event [Line Items]
Volume - Current Year | bbl	[2]									5,060,000			5,060,000
Price - Current Year | $ / bbl	[2]									(1.48)			(1.48)
Volume - Year One | bbl	[2]					4,324,000	4,324,000	5,368,000	5,838,000			19,854,000
Price - Year One | $ / bbl	[2]					(0.47)	(0.47)	(1.1)	(1.06)			(0.81)
Natural Gas Swap [Member]
Subsequent Event [Line Items]
Volume - Current Year | MMBTU	[3]									7,360,000			7,360,000
Price - Current Year | $ / MMBTU	[3]									3.02			3.02
Volume - Year One | MMBTU	[3]					10,580,000	10,770,441	11,531,642	12,335,315			45,217,398
Price - Year One | $ / MMBTU	[3]					3.01	3.02	3.02	3.03			3.02
Subsequent Event [Member] | Oil Swaps [Member]
Subsequent Event [Line Items]
Volume - Year One | bbl	[1]					785,580	866,970	989,280	1,021,470			3,663,300
Price - Year One | $ / bbl	[1]					52.95	52.9	52.76	52.64			52.8
Volume - Year Two | bbl	[1]	648,700	710,310	783,340	665,190						2,807,540
Price - Year Two | $ / bbl	[1]	54.42	54.39	54.37	54.46						54.41
Subsequent Event [Member] | Oil Basis Swaps [Member]
Subsequent Event [Line Items]
Volume - Year One | bbl	[2]					644,000	644,000	455,000	450,000			2,193,000
Price - Year One | $ / bbl	[2]					(0.6)	(0.6)	(0.6)	(0.6)			(0.6)
Subsequent Event [Member] | Natural Gas Swap [Member]
Subsequent Event [Line Items]
Volume - Year Two | MMBTU	[3]	1,840,000	1,840,000	1,820,000	1,800,000						7,300,000
Price - Year Two | $ / MMBTU	[3]	3.01	3.01	3.01	3.01						3.01
[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	Sep. 30, 2016	Dec. 31, 2015
Disclosure Supplementary Information Capitalized Costs [Abstract]
Proved	$ 15,822,815	$ 14,940,259
Unproved	946,454	906,048
Accumulated depletion and depreciation	(7,403,505)	(5,047,810)
Net capitalized costs for oil and natural gas properties	$ 9,365,764	$ 10,798,497

Supplementary Information (Cost

Supplementary Information (Costs Incurred For Oil And Natural Gas Producing Activities) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Disclosure Supplementary Information Costs Incurred For Oil And Natural Gas Producing Activities [Abstract]
Proved	$ 546	$ 56,636	$ 256,655	$ 58,879
Unproved	15,079	161,921	172,486	195,971
Exploration	176,687	201,737	513,109	973,957
Development	96,977	99,490	287,120	622,644
Total costs incurred for oil and natural gas properties	$ 289,289	$ 519,784	$ 1,229,370	$ 1,851,451