Gastar Exploration (GST) 10-Q 8 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 06, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Registrant Name	Gastar Exploration Inc.
Trading Symbol	GST
Entity Central Index Key	1,431,372
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		218,941,521

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 29,229	$ 71,529
Accounts receivable, net of allowance for doubtful accounts of $1,953, respectively	40,353	26,883
Commodity derivative contracts	4,400	6,212
Prepaid expenses	1,167	755
Total current assets	75,149	105,379
Oil and natural gas properties, full cost method of accounting:
Unproved properties, excluded from amortization	135,945	67,333
Proved properties	1,303,165	1,253,061
Total oil and natural gas properties	1,439,110	1,320,394
Furniture and equipment	3,031	2,622
Total property, plant and equipment	1,442,141	1,323,016
Accumulated depreciation, depletion and amortization	(1,147,774)	(1,131,012)
Total property, plant and equipment, net	294,367	192,004
OTHER ASSETS:
Restricted cash	370	0
Commodity derivative contracts	416	1,638
Deferred charges, net	0	676
Advances to operators and other assets	100	102
Other	405	405
Total other assets	1,291	2,821
TOTAL ASSETS	370,807	300,204
CURRENT LIABILITIES:
Accounts payable	11,411	8,867
Revenue payable	16,428	6,690
Accrued interest	7,271	3,515
Accrued drilling and operating costs	12,100	2,615
Advances from non-operators	1,589	3,504
Commodity derivative contracts	326	338
Commodity derivative premium payable	1,337	1,654
Asset retirement obligation	0	89
Other accrued liabilities	2,791	2,462
Total current liabilities	53,253	29,734
LONG-TERM LIABILITIES:
Long-term debt	333,593	404,493
Commodity derivative contracts	129	0
Commodity derivative premium payable	34	969
Asset retirement obligation	4,574	5,443
Total long-term liabilities	338,330	410,905
Commitments and contingencies (Note 11)
STOCKHOLDERS’ DEFICIT:
Common stock, par value $0.001 per share; 800,000,000 and 550,000,000 shares authorized at September 30, 2017 and December 31, 2016, respectively; 218,946,763 and 150,377,870 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	219	150
Additional paid-in capital	817,627	644,306
Accumulated deficit	(838,684)	(784,953)
Total stockholders’ deficit	(20,776)	(140,435)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	370,807	300,204
8.625% Series A Cumulative Preferred Stock
STOCKHOLDERS’ DEFICIT:
Preferred stock	41	41
10.75% Series B Cumulative Preferred Stock
STOCKHOLDERS’ DEFICIT:
Preferred stock	$ 21	$ 21

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Allowance for doubtful accounts	$ 1,953	$ 1,953
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, par value	$ 0.01	$ 0.01
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	800,000,000	550,000,000
Common stock, shares issued	218,946,763	150,377,870
Common stock, shares outstanding	218,946,763	150,377,870
8.625% Series A Cumulative Preferred Stock
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, dividend percentage	8.625%	8.625%
Preferred stock, shares issued	4,045,000	4,045,000
Preferred stock, shares outstanding	4,045,000	4,045,000
Liquidation preference per share	$ 25	$ 25
10.75% Series B Cumulative Preferred Stock
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, dividend percentage	10.75%	10.75%
Preferred stock, shares issued	2,140,000	2,140,000
Preferred stock, shares outstanding	2,140,000	2,140,000
Liquidation preference per share	$ 25	$ 25

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
REVENUES:
Oil and condensate	$ 12,952	$ 10,306	$ 37,886	$ 30,464
Natural gas	2,519	2,500	7,452	8,394
NGLs	2,757	1,695	7,527	5,100
Total oil, condensate, natural gas and NGLs revenues	18,228	14,501	52,865	43,958
(Loss) gain on commodity derivatives contracts	(2,896)	(1,498)	3,782	(3,991)
Total revenues	15,332	13,003	56,647	39,967
EXPENSES (BENEFIT):
Production taxes	721	400	1,675	1,469
Lease operating expenses	6,178	5,166	16,396	15,829
Transportation, treating and gathering	436	338	1,187	1,346
Depreciation, depletion and amortization	6,059	5,223	16,762	24,543
Impairment of oil and natural gas properties	0	0	0	48,497
Accretion of asset retirement obligation	62	92	171	286
General and administrative expense	4,067	3,925	12,482	15,872
Litigation settlement benefit	0	(10,100)	0	(10,100)
Total expenses	17,523	5,044	48,673	97,742
(LOSS) INCOME FROM OPERATIONS	(2,191)	7,959	7,974	(57,775)
OTHER INCOME (EXPENSE):
Interest expense	(10,159)	(8,178)	(29,744)	(26,739)
Loss on early extinguishment of debt	0	0	(12,172)	0
Investment income and other (expense)	51	41	166	(2)
LOSS BEFORE PROVISION FOR INCOME TAXES	(12,299)	(178)	(33,776)	(84,516)
Provision for income taxes	0	0	0	0
NET LOSS	(12,299)	(178)	(33,776)	(84,516)
Dividends on preferred stock	(1,206)	0	(8,443)	(3,618)
Undeclared cumulative dividends on preferred stock	(2,412)	(3,618)	(2,412)	(7,237)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ (15,917)	$ (3,796)	$ (44,631)	$ (95,371)
NET LOSS PER SHARE OF COMMON STOCK ATTRIBUTABLE TO COMMON STOCKHOLDERS:
Basic (in dollars per share)	$ (0.08)	$ (0.03)	$ (0.23)	$ (0.92)
Diluted (in dollars per share)	$ (0.08)	$ (0.03)	$ (0.23)	$ (0.92)
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:
Basic (shares)	209,072,232	129,301,817	190,745,688	104,125,317
Diluted (shares)	209,072,232	129,301,817	190,745,688	104,125,317

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (33,776)	$ (84,516)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	16,762	24,543
Impairment of oil and natural gas properties	0	48,497
Stock-based compensation	3,990	3,145
Total (gain) loss on commodity derivatives contracts	(3,782)	3,991
Cash settlements of matured commodity derivatives contracts, net	5,602	10,690
Cash premiums paid for commodity derivatives contracts	0	(565)
Amortization of deferred financing costs and debt discount	8,218	3,812
Accretion of asset retirement obligation	171	286
Settlement of asset retirement obligation	0	(87)
Loss on sale of furniture and equipment	0	97
Loss on early extinguishment of debt	12,172	0
Changes in operating assets and liabilities:
Accounts receivable	(13,466)	3,861
Prepaid expenses	(412)	362
Accounts payable and accrued liabilities	13,657	7,656
Net cash provided by operating activities	9,136	21,772
CASH FLOWS FROM INVESTING ACTIVITIES:
Development and purchase of oil and natural gas properties	(81,906)	(43,175)
(Acquisition of) refund for oil and natural gas properties	(54,462)	1,149
Proceeds from sale of oil and natural gas properties	28,798	77,499
Application of proceeds from non-operators	(1,915)	(57)
(Advances to) reimbursements from operators	(22)	211
(Purchase) sale of furniture and equipment	(409)	80
Net cash (used in) provided by investing activities	(109,916)	35,707
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from term loan	250,000	0
Proceeds from convertible notes	200,000	0
Repayment of senior secured notes	(325,000)	0
Repayment of revolving credit facility	(84,630)	(100,370)
Loss on early extinguishment of debt	(7,011)	0
Proceeds from issuance of common stock, net of issuance costs	56,366	44,815
Dividends on preferred stock	(19,298)	(3,618)
Deferred financing charges	(10,991)	(930)
Increase in restricted cash	(370)	0
Tax withholding related to restricted stock and performance based unit award vestings	(586)	(711)
Net cash provided by (used in) financing activities	58,480	(60,814)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(42,300)	(3,335)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	71,529	50,074
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 29,229	$ 46,739

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business	1. Description of Business Gastar Exploration Inc. (the “Company” or “Gastar”) is a pure play Mid-Continent independent energy company engaged in the exploration, development and production of oil, condensate, natural gas and NGLs. Gastar’s principal business activities include the identification, acquisition, and subsequent exploration and development of oil and natural gas properties with an emphasis on unconventional reserves, such as shale resource plays. Gastar holds a concentrated acreage position in the normally pressured oil window of the STACK Play, an area of central Oklahoma which is home to multiple oil and natural gas-rich reservoirs including the Oswego limestone, Meramec and Osage bench formations within the Mississippi Lime, the Woodford shale and Hunton limestone formations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The accounting policies followed by the Company are set forth in the notes to the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2016 (the “2016 Form 10-K”) filed with the SEC. Please refer to the notes to the consolidated financial statements included in the 2016 Form 10-K for additional details of the Company’s financial condition, results of operations and cash flows. No material item included in those notes has changed except as a result of normal transactions in the interim or as disclosed within this report. The unaudited interim condensed consolidated financial statements of the Company included herein are stated in U.S. dollars and were prepared from the records of the Company by management in accordance with U.S. GAAP applicable to interim financial statements and reflect all normal and recurring adjustments, which are, in the opinion of management, necessary to provide a fair presentation of the results of operations and financial position for the interim periods. Such financial statements conform to the presentation reflected in the 2016 Form 10-K. The current interim period reported herein should be read in conjunction with the financial statements and accompanying notes, including Item 8. “Financial Statements and Supplementary Data, Note 2 – Summary of Significant Accounting Policies,” included in the 2016 Form 10-K. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates with regard to these financial statements include the valuation of convertible debt, estimate of proved oil and natural gas reserve quantities and the related present value of estimated future net cash flows. The unaudited interim condensed consolidated financial statements of the Company include the consolidated accounts of all of its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the three and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. Subsequent Events In preparing these financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued and has disclosed certain subsequent events in these condensed consolidated financial statements, as appropriate. Accounts Receivable Accounts receivable are reported net of the allowance for doubtful accounts. The allowance for doubtful accounts is determined based on a review of the Company’s receivables. Receivable accounts are charged off when collection efforts have failed or the account is deemed uncollectible. During 2016, the Company determined that a receivable account from a third-party natural gas and NGLs purchaser would no longer be collectible as a result of the third-party purchaser filing for bankruptcy. A summary of the activity related to the allowance for doubtful accounts is as follows: September 30, 2017 December 31, 2016 (in thousands) Allowance for doubtful accounts, beginning of period $ 1,953 $ — Expense — 1,953 Reductions/write-offs — — Allowance for doubtful accounts, end of period $ 1,953 $ 1,953 Recent Accounting Developments Business Combinations. In January 2017, the FASB issued updated guidance to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this update provide a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. If the screen is not met, the amendments in this update (1) require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (2) remove the evaluation of whether a market participant could replace missing elements. The amendments in this update affect all reporting entities that must determine whether they have acquired or sold a business and are effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within those periods. The amendments should be applied prospectively on or after the effective date and no disclosures are required at transition. Early application is allowed as follows (1) for transactions for which the acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance and (2) for transactions in which a subsidiary is deconsolidated or a group of assets is derecognized that occur before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. The application of this guidance to future acquisitions and disposals could have an effect on the Company’s financial position or results of operations. Statement of Cash Flows. In August 2016, the FASB issued updated guidance associated with the classification of certain cash receipts and cash payments on the statement of cash flows. The amended guidance addresses specific cash flow issues with the objective of reducing existing diversity in practice. The amendment provides guidance on the following eight specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies; distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. The amendments in this update apply to all entities required to present a statement of cash flows. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. Amendments should be applied using a retrospective transition method to each period presented. If it is impracticable to apply the amendments retrospectively for some of the issues, the amendments for those issues would be applied prospectively as of the earliest date practicable. The Company is currently evaluating the effect that adopting this guidance will have on its presentation of cash flows and does not believe the effects of adopting this updated guidance will have a material effect on its statement of cash flows nor that it will affect the Company’s financial position or results of operations. Compensation – Stock Compensation. In March 2016, the FASB issued updated guidance as part of its simplification initiative which is intended to simplify several aspects of the accounting for stock-based compensation transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. For public business entities, the amendments in this update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement should be applied retrospectively. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term should be applied prospectively. An entity may elect to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using either a prospective transition method or a retrospective transition method. The Company adopted this updated guidance for the fiscal year beginning January 1, 2017 and recorded a cumulative adjustment of approximately $657,000 to retained earnings to properly reflect the adjustment to stock compensation expense to reduce the forfeiture rate to 0%. Leases. In February 2016, the FASB issued updated guidance to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and enhance disclosures regarding key information about leasing arrangements. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases. The new lease guidance also simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. The amendments in this update are effective beginning on January 1, 2019 and should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. The Company has begun analyzing its lease contracts but has not yet determined what the effects of adopting this updated guidance will be on its consolidated financial statements. Income Taxes. In November 2015, the FASB issued updated guidance as part of its simplification initiative for the presentation of deferred taxes. Current U.S. GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position where such classification generally does not align with the time period in which the recognized deferred tax amounts are expected to be recovered or settled. To simplify the presentation of deferred income taxes, the amendments in this update require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position and apply to all entities that present a classified statement of financial position, resulting in the alignment of the presentation of deferred income tax assets and liabilities with International Financial Reporting Standards. International Accounting Standard 1, . This updated guidance is effective for public business entities for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company has adopted this guidance prospectively and such adoption did not have an impact on its consolidated financial statements. Revenue Recognition. In May 2014, the FASB issued an amendment to previously issued guidance regarding the recognition of revenue, which supersedes the revenue recognition requirements in Accounting Standards Codification Topic 605, “Revenue Recognition,” and most industry-specific guidance. The FASB and the International Accounting Standards Board initiated a joint project to clarify the principles for recognizing revenue and to develop a common standard that would (i) remove inconsistencies and weaknesses in revenue requirements, (ii) provide a more robust framework for addressing revenue issues, (iii) improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets, (iv) provide more useful information to users of financial statements through improved disclosure requirements and (v) simplify the preparation of financial statements by reducing the number of requirements to which an entity must refer. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, an entity should apply the following steps: (1) identify the contract(s) with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This guidance supersedes prior revenue recognition requirements and most industry-specific guidance throughout the FASB Accounting Standards Codification. In 2015, the FASB delayed the effective date one year, beginning in fiscal year 2018. The Company has substantially completed its scoping and assessment of impact of the new revenue recognition standard. The Company has evaluated a representative sample of revenue contracts related to its oil, natural gas and NGLs revenues. For these contracts, the Company has reviewed the contract provisions and evaluated the contracts under the new standard to assess the impact on the quantum and timing of revenue recognition and presentation of revenues on adoption of the new guidance. The Company believes that it has identified all material contract types and contractual features that represent the Company’s revenue. Based upon work completed to date, the Company does not currently expect that the adoption of this standard will have a material impact on net profit, although the Company does believe that certain reclassifications between revenue and expenses may be required based upon its assessment of i) where control passes to the customer and ii) whether the Company represents the principal or agent in certain arrangements. In addition, the Company’s disclosures surrounding revenue recognition will be more substantial upon adoption. These conclusions are subject to change and the Company is continuing to evaluate the requirements of this standard as it works towards finalizing its assessment, and as it continues to perform other implementation activities such as establishing new policies, procedures and controls, quantifying the adoption date adjustments and drafting disclosures. The Company is required to apply this new standard beginning January 1, 2018. Two methods of transition are permitted under this standard: the full retrospective method, in which the standard would be applied retrospectively to each prior reporting period presented, subject to certain allowable exceptions; or the modified retrospective method, in which the standard would be applied to all contracts existing as of the date of initial application, with the cumulative effect of applying the standard recognized in retained earnings (the adoption date adjustments). The Company anticipates adopting this standard using the modified retrospective method.

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2017
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	3. Property, Plant and Equipment The amount capitalized as oil and natural gas properties was incurred for the purchase and development of various properties in the U.S., specifically the states of Oklahoma, Pennsylvania and West Virginia. On April 8, 2016, the Company sold substantially all of its producing assets and proved reserves and a significant portion of its undeveloped acreage in Pennsylvania and West Virginia comprising the Company’s assets in the Appalachian Basin. On January 20, 2017, the Company sold its remaining interest in producing wells and undeveloped acreage in West Virginia, effective January 1, 2017, for $200,000 before fees and expenses. The following table summarizes the components of unproved properties excluded from amortization at the dates indicated: September 30, 2017 December 31, 2016 (in thousands) Unproved properties, excluded from amortization: Drilling in progress costs $ 10,881 $ 1,100 Acreage acquisition costs 113,110 58,857 Capitalized interest 11,954 7,376 Total unproved properties excluded from amortization $ 135,945 $ 67,333 The full cost method of accounting for oil and natural gas properties requires a quarterly calculation of a limitation on capitalized costs, often referred to as a full cost ceiling calculation. The ceiling is the present value (discounted at 10% per annum) of estimated future cash flow from proved oil, condensate, natural gas and NGLs reserves reduced by future operating expenses, development expenditures, abandonment costs (net of salvage) to the extent not included in oil and natural gas properties pursuant to authoritative guidance and estimated future income taxes thereon. To the extent that the Company's capitalized costs (net of accumulated depletion and deferred taxes) exceed the ceiling at the end of each reporting period, the excess must be written off to expense for such period. Once incurred, this impairment of oil and natural gas properties is not reversible at a later date even if oil and natural gas prices increase. The ceiling calculation is determined using a mandatory trailing 12-month unweighted arithmetic average of the first-day-of-the-month commodities pricing and costs in effect at the end of the period, each of which are held constant indefinitely (absent specific contracts with respect to future prices and costs) with respect to valuing future net cash flows from proved reserves for this purpose. The 12-month unweighted arithmetic average of the first-day-of-the-month commodities prices are adjusted for basis and quality differentials in determining the present value of the proved reserves. The table below sets forth relevant pricing assumptions utilized in the quarterly ceiling test computations for the respective periods noted before adjustment for basis and quality differentials: 2017 Total Year to Date Impairment September 30 June 30 March 31 Henry Hub natural gas price (per MMBtu) (1) $ 3.00 $ 3.01 $ 2.73 WTI oil price (per Bbl) (1) $ 49.81 $ 48.95 $ 47.61 Impairment recorded (pre-tax) (in thousands) $ — $ — $ — $ — 2016 Total Year to Date Impairment September 30 June 30 March 31 Henry Hub natural gas price (per MMBtu) (1) $ 2.28 $ 2.24 $ 2.40 WTI oil price (per Bbl) (1) $ 41.68 $ 43.12 $ 46.26 Impairment recorded (pre-tax) (in thousands) $ 48,497 $ — $ — $ 48,497 (1) For the respective periods, oil and natural gas prices are calculated using the trailing 12-month unweighted arithmetic average of the first-day-of-the-month prices based on Henry Hub spot natural gas prices and WTI spot oil prices. The Company could potentially incur ceiling test impairments in the future should commodities prices decline. However, it is difficult to project future impairment charges in light of numerous variables involved. The Company’s proved reserves estimates and their estimated discounted value and standardized measure will also be impacted by changes in lease operating costs, future development costs, production, exploration and development activities and estimated future income taxes. The ceiling limitation calculation is not intended to be indicative of the fair market value of the Company’s proved reserves or future results. STACK Leasehold Acquisition On March 22, 2017, the Company completed the acquisition of additional working and net revenue interests in approximately 66 gross (9.5 net) producing wells and 5,670 net acres of additional undeveloped STACK Play leasehold in Kingfisher County, Oklahoma, effective March 1, 2017, for $51.4 million (the “STACK Leasehold Acquisition”). Prior to the completion of the STACK Leasehold Acquisition, the Company held an interest in the majority of acquired producing wells and acreage. The Company accounted for the STACK Leasehold Acquisition as an asset acquisition. Development Agreement On October 14, 2016, the Company executed an agreement with STACK Exploration LLC (the “Investor”) (the “Development Agreement”) to jointly develop up to 60 Gastar operated wells in the STACK Play in Kingfisher County, Oklahoma (the “Drilling Program”). The Drilling Program targeted the Meramec and Osage formations within the Mississippi Lime in a contract area within three townships covering approximately 32,900 gross (21,200 net) undeveloped mineral acres under leases held by the Company. The Company is the operator of all wells jointly developed under the Development Agreement. Under the Development Agreement, the Investor funded 90% of the Company’s working interest portion of drilling and completion costs to initially earn 80% of the Company’s working interest in each new well (in each case, proportionately reduced by other participating working interests in the well). As a result, the Company paid 10% of its working interest portion of such costs for 20% of its original working interest. The proposed Drilling Program wells were to be mutually developed in three tranches of 20 wells each. The locations of the first 20 wells, comprised of 18 Meramec formation wells and two Osage formation wells, were mutually agreed upon by the Company and the Investor. Participation in the second tranche of 20 Drilling Program wells was to be at the election of the Investor and the third tranche of 20 wells would require mutual consent. On July 31, 2017, the Investor elected not to participate in the second tranche of wells. With respect to each 20-well tranche, when the Investor has achieved an aggregate 15% internal rate of return for its investment in the tranche, Investor’s interest will be reduced from 80% to 40% of the Company’s original working interest and the Company’s working interest increases from 20% to 60% of its original working interest. When a tranche internal rate of return of 20% is achieved by the Investor, Investor’s working interest decreases to 10% and the Company’s working interest increases to 90% of the working interest originally owned by the Company. Upon completion of a tranche, the Investor has the right, but not the obligation, for a period of six months to cause the Company to purchase the Investor’s interest in the Drilling Program that is not subject to final reversion (the “WI Tail”) for such tranche (the “Investor Put Right”) for fair market value by applying the methodology to determine a 15% discounted present value as defined by the Development Agreement. If the Investor fails to exercise the Investor Put Right within the six-month period after achieving final reversion, then for a period of six months thereafter, the Company shall have the right, but not the obligation, to purchase the WI Tail from the Investor on the same fair market value approach of the Investor Put Right. If final reversion has not been achieved by the eighth anniversary of the spud date of the first well in a given tranche, Investor will, for a period of six months thereafter, have the right to cause us to buy Investor’s then-current interest in such tranche at an agreed upon valuation. Based on current commodity prices, well cost and production performance of the completed wells in the first tranche, the 15% of internal rate of return is not anticipated to be achieved. As of September 30, 2017, the Company and the Investor had completed 20 gross (15.8 net; 3.2 net to the Company) wells, all of which were on production, within the first tranche of the Drilling Program. Canadian County Property Sale On October 19, 2016, the Company entered into a purchase and sale agreement (the “Red Bluff PSA”) to sell certain non-core leasehold interests in approximately 25,300 net acres of which only 19,100 net acres was ascribed allocated value and interests in 25 gross (11.2 net) wells primarily in northeast Canadian County and also in southeast Kingfisher County, Oklahoma to Red Bluff Resources Operating, LLC (“Red Bluff”) for $71.0 million (of which up to $10.0 million was contingent upon the satisfaction of certain conditions), subject to certain adjustments and with a property sale effective date of August 1, 2016 (“South STACK Play Acreage Sale”). As of September 30, 2017, the sale was completed and the Company had received approximately $69.5 million of sales proceeds from the South STACK Play Acreage Sale. The sale was reflected as a reduction to the full cost pool and no adjustment to the income statement was necessary as it was determined not to be significant. Appalachian Basin Sale On February 19, 2016, the Company entered into an agreement to sell substantially all of its producing assets and proved reserves and a significant portion of its undeveloped acreage in the Appalachian Basin for $80.0 million, subject to customary closing adjustments (the “Appalachian Basin Sale”). Pursuant to the agreement, on April 8, 2016, the Company completed the Appalachian Basin Sale for an adjusted sales price of $75.7 million, net of $3.5 million of suspense liability transferred to buyer. The Appalachian Basin Sale was reflected as a reduction to the full cost pool and the Company did not record a gain or loss related to the divestiture as it was not determined to be significant to the full cost pool and did not result in a significant change to the depletion rate.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	4. Long-Term Debt The table below provides a reconciliation of the Company’s long-term debt balance as presented in the condensed consolidated balance sheets for the periods presented: September 30, 2017 December 31, 2016 (in thousands) Term Loan, principal balance (1) $ 250,000 $ — Less: Unamortized deferred financing costs (2) (4,909 ) — Unamortized debt discount (2) (22,958 ) — Term Loan, net $ 222,133 $ — Notes, principal balance $ 162,500 $ — Less: Unamortized deferred financing costs (2) (2,765 ) — Unamortized debt discount (2) (48,275 ) — Notes, net $ 111,460 $ — Revolving credit facility $ — $ 84,630 Former senior secured notes $ — $ 325,000 Less: Unamortized deferred financing costs — (795 ) Unamortized debt discount (4,342 ) Former senior secured notes, net $ — $ 319,863 Total long-term debt $ 333,593 $ 404,493 (1) Pursuant to Amendment No. 2 (as defined below), on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan (as defined below) to $256.6 million at such time. (2) The unamortized deferred financing costs and debt discount will be amortized over the remaining life of the Term Loan and Notes (as defined below), respectively, based on the effective interest method. Ares Investment Transactions On March 3, 2017, certain funds (the “Purchasers”) managed indirectly by Ares Management LLC (“Ares”) purchased from the Company for cash (i) $125.0 million aggregate principal amount of its Convertible Notes due 2022 (“Notes”) sold at par, which Notes, subject to the receipt of approval of the Company’s stockholders which was obtained on May 2, 2017, are convertible into common stock, par value $0.001 per share of the Company (the “Common Stock”) or, in certain circumstances, cash in lieu of Common Stock or a combination of cash and shares of Common Stock as described below and (ii) 29,408,305 shares of Common Stock for a purchase price of $50.0 million. In addition, an affiliate of Ares concurrently loaned the Company $250.0 million pursuant to the Third Amended and Restated Credit Agreement among the Company (the “Term Loan”), as borrower, the guarantors party thereto, AF V Energy I Holdings, L.P., a fund managed indirectly by Ares, as lender, and Wilmington Trust, National Association, as Administrative Agent as further described below. The proceeds from the sale of the Notes, the Common Stock and the Term Loan were used to fully repay and redeem the Company’s prior Revolving Credit Facility (as defined below) and to satisfy and discharge its $325.0 million of 8.625% senior secured notes due May 2018, which were satisfied and discharged on March 3, 2017 by irrevocably calling for redemption and depositing with the indenture trustee cash in the amount of the redemption price of 102.156% of their principal amount plus accrued and unpaid interest to the redemption date of March 24, 2017, and to pay the expenses from the Ares transactions. In order to provide funding for the STACK Leasehold Acquisition and a portion of the Company’s 2017 capital budget, on March 21, 2017, the Purchasers purchased from the Company for cash an additional $75.0 million aggregate principal amount of its Notes sold at par (the “Additional Notes”). The Notes, including the Additional Notes, were issued with conversion rights that were subject to the approval of holders of issued and outstanding Common Stock (other than the Purchasers), which approval was obtained May 2, 2017 (the “Requisite Stockholder Approval”). Pursuant to the purchase agreement for the Additional Notes, upon receipt of Requisite Stockholder Approval, Purchasers and the Company exchanged $37.5 million principal amount of the Additional Notes for (a) 25,456,521 newly issued shares of Common Stock (the “Repurchase Shares”) and (b) 2,000 shares of the Company’s Special Voting Preferred Stock, par value $0.01 per share (the “Mandatory Repurchase”). The terms of Mandatory Repurchase, which was effected May 5, 2017, provided for one Repurchase Share issued for each $1.4731 of outstanding principal of the repurchased Notes, which was based on the 10-day volume weighted average trading price (“VWAP”) of the Common Stock for the period ended March 17, 2017. The exchange reduced the aggregate principal amount of issued and outstanding Notes from $200.0 million to $162.5 million at June 30, 2017, which principal amount remains outstanding at September 30, 2017. Term Loan On March 3, 2017, the Company entered into a credit agreement for the Term Loan. The Term Loan bears interest at a per annum rate equal to 8.5%, payable on a quarterly basis on each March 31, June 30, September 30 and December 31 of each year, commencing March 31, 2017. The Term Loan has a scheduled maturity of March 3, 2022. In addition, the Term Loan is subject to an interest “make-whole” and repayment premium, such that any repayment or prepayment of the loans thereunder prior to the stated maturity date shall be subject to the payment of a repayment premium, and depending on the date of such repayment or prepayment, the applicable interest “make-whole” amount, with the amount of such repayment premium decreasing over the life of the Term Loan. The Term Loan is guaranteed by the Company’s sole domestic subsidiary and will be guaranteed by all of the Company's future domestic subsidiaries formed during the term of the Term Loan. The Term Loan is secured by a first-priority lien on substantially all of the assets of the Company and its subsidiaries, excluding certain assets as customary exceptions. The Term Loan contains various customary covenants for credit facilities of this type, including, among others, restrictions on granting liens, incurrence of other indebtedness, payments of certain dividends and other restricted payments, engaging in transactions with affiliates, dispositions of assets and other, in each case subject to certain baskets and exceptions, and at September 30, 2017, the Company was in compliance with such covenants. All outstanding amounts owed become due and payable upon the occurrence of certain usual and customary events of default, including among others (i) failure to make payments; (ii) non-performance of covenants and obligations continuing beyond any applicable grace period; and (iii) the occurrence of a change in control of the Company, as defined in the Term Loan. The Company accounted for the Term Loan in accordance with guidance relating to “ Debt with Conversion and Other Options On March 20, 2017, the Company, together with the parties thereto, entered into an Amendment No. 1 to the Term Loan which amendment permitted the issuance of the Additional Notes. On August 2, 2017, the Company, together with the parties thereto, entered into an Amendment No. 2 to Term Loan (“Amendment No. 2”). Amendment No. 2 amended the Term Loan, to among other things, (i) allow for the payment of pay in kind (“PIK”) interest on the Term Loan at the applicable PIK percentage and (ii) increased the applicable rate for periods ending after June 30, 2017 from 8.5% per annum to 10.25% per annum. Amendment No. 2 allows the Company to elect to PIK upon proper notice 100% of interest payments due after June 30, 2017 and prior to December 31, 2018 and at the Company’s election, PIK between 0% and 50% of any interest payments occurring after December 31, 2018 (other than interest due on the maturity date or the date of any repayment or prepayment). The Term Loan interest rate increased to 10.25% for all interest periods post June 30, 2017 and the PIK interest shall be payable by capitalizing and adding such amounts to the outstanding principal amount of the Term Loan on the applicable interest payment date. On September 18, 2017, the Company, together with the parties thereto, entered into an Amendment No. 3 to the Term Loan (“Amendment No. 3”). Amendment No. 3 amended the Term Loan to, among other things, expressly provide that certain assignments of oil and natural gas properties made or to be made by the Company to Red Bluff, pursuant to the Red Bluff PSA, are permitted by the Term Loan and are not subject to the mandatory prepayment provisions applicable to “Asset Sales” under the Term Loan. A carrying amount of the Term Loan for the period indicated is as follows: September 30, 2017 (in thousands) Term Loan, principal balance (1) $ 250,000 Less: Unamortized deferred financing costs (2) (4,909 ) Unamortized debt discount (2) (22,958 ) Term loan, net $ 222,133 (1) Pursuant to Amendment No. 2, on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan to $256.6 million at such time. (2) The unamortized deferred financing costs and debt discount will be amortized over the remaining life of the Term Loan based on the effective interest method. Indenture and Notes On March 3, 2017, the Company entered into an indenture (the “Indenture”) by and among the Company, the subsidiary guarantor named therein, and Wilmington Trust, National Association, as trustee (the “Trustee”) and collateral trustee, with respect to the Notes. The principal terms of the Notes are governed by the Indenture. Pursuant to the Indenture, the Notes were issued for cash at par, bear interest at 6.0% per annum and will mature on March 1, 2022, unless earlier repurchased, redeemed or converted in accordance with the terms of the Indenture. Interest is payable on the Notes on each March 1, June 1, September 1 and December 1 of each year, commencing on June 1, 2017. Pursuant to the Indenture, Requisite Stockholder Approval was required on or before July 3, 2017 to approve the conversion rights of the Notes (including the Additional Notes) to be convertible at the option of the holder into shares of Common Stock based on the terms of the Indenture. Requisite Stockholder Approval was obtained on May 2, 2017 at a special meeting of stockholders. The interest rate on the Notes was subject to an increase in certain circumstances if the Company fails to comply with certain obligations under a Registration Rights Agreement described in “Note 7 – Capital Stock” below, and on the Notes in the case of certain issuances of Common Stock by the Company at a price below $1.7002 per share (subject to adjustment). The Notes are secured by a second-priority lien on substantially all of the assets of the Company. If at least a majority of the Notes issued pursuant to the Securities Purchase Agreement dated February 16, 2017 (the “Purchase Agreement”) cease to be held by affiliates of Ares as provided in the Indenture, the liens securing the Notes will be released and substantially all of the restrictive covenants in the Indenture will terminate. The Indenture restricts the ability of the Company and certain of its subsidiaries to, among other things: (i) pay dividends or make other distributions in respect of the Company’s capital stock or make other restricted payments; (ii) incur additional indebtedness and issue preferred stock; (iii) make certain dispositions and transfers of assets; (iv) engage in transactions with affiliates; (v) create liens; (vi) engage in certain business activities that are not related to oil and gas; and (vii) impair any security interest. These covenants are subject to a number of exceptions and qualifications. The Indenture provides that a number of events will constitute an Event of Default (as defined in the Indenture), including, among other things: (i) a failure to pay the Notes when due at maturity, upon redemption or repurchase; (ii) failure to pay interest for 30 days; (iii) the Company’s failure to deliver certain notices; (iv) a default in the Company’s obligation to convert the Notes; (v) the Company’s failure to comply with certain covenants relating to merger, consolidation or sale of assets; (vi) the Company’s failure to comply, for 60 days following notice, with any of the other covenants or agreements in the Indenture; (vii) a default, which is not cured within 30 days, by the Company or any Restricted Subsidiaries (as defined in the Indenture) with respect to any mortgages or any indebtedness for money borrowed of at least $15 million; (viii) one or more final judgments against the Company or any of its Restricted Subsidiaries for the payment of at least $15 million; (ix) the Company’s failure to make any payments required under that certain development agreement; (x) causing any Guarantee (as defined in the Indenture) to cease to be in full force and effect; (xi) the cessation to be in full force and effect of any of the collateral agreements entered into with respect to the Notes; and (xii) certain events of bankruptcy or insolvency. In the case of an Event of Default arising from certain events of bankruptcy or insolvency with respect to the Company, all outstanding Notes will become due and payable immediately without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare all the Notes to be due and payable immediately. At September 30, 2017, no Event of Default had occurred. In accordance with accounting guidance relating to “ Debt with Conversion and Other Options” The carrying amount of the liability component of the Notes for the period indicated is as follows: September 30, 2017 (in thousands) Notes, principal balance $ 162,500 Less: Unamortized deferred financing costs (1) (2,765 ) Unamortized debt discount (1) (48,275 ) Notes, net $ 111,460 (1) The unamortized deferred financing costs and debt discount will be amortized over the remaining life of the Notes based on the effective interest method. The carrying amount of the equity components of the Notes recorded in additional paid in capital for the period indicated is as follows: September 30, 2017 (in thousands) Value of conversion option $ 77,626 Debt issuance costs attributable to conversion option $ (2,164 ) Total $ 75,462 Second Amended and Restated Revolving Credit Facility On June 7, 2013, the Company entered into the Second Amended and Restated Credit Agreement among the Company, Wells Fargo Bank, National Association, as Administrative Agent, Collateral Agent, Swing Line Lender and Issuing Lender and the lenders named therein (the “Revolving Credit Facility”). The Revolving Credit Facility had a scheduled maturity of November 14, 2017. On January 10, 2017, the Company, together with the parties thereto, entered into an amendment to the Revolving Credit Facility (“Amendment No. 10”), which amended the Revolving Credit Facility to, among other things, permit the payment of certain cash dividends on its preferred stock, including the dividends declared payable on January 31, 2017, provided that (i) the Company’s borrowing base was correspondingly reduced in the amount of any such dividend payment and (ii) the Company paid down its outstanding indebtedness under the Revolving Credit Facility in the amount of any resulting borrowing base deficiency. Under Amendment No. 10, payment of the declared January 2017 dividend and monthly preferred stock cash dividends through May 2017 was permitted contingent upon the satisfaction of certain conditions, including but not limited to, (i) the absence of any defaults or borrowing base deficiency, (ii) for any dividends declared and paid in respect of April 2017 and May 2017, having cash liquidity (including any available borrowings under the Revolving Credit Facility) of more than $30.0 million and (iii) paying any permitted dividends solely from proceeds received by the Company from sales of equity since November 30, 2016 (including through the Company’s at-the-market issuance sales agreement with a third-party sales agent to sell, from time to time, shares of the Company’s common stock (the “ATM Program”). Under Amendment No. 10, the Company also agreed to pay down indebtedness under its Revolving Credit Facility by at least an additional $8.1 million by April 30, 2017. On March 3, 2017, the Company used a portion of the net proceeds from the transactions described in this Note 4 under the caption “Ares Investment Transactions” to fully repay all of the $69.2 million borrowings outstanding under the Revolving Credit Facility (which was terminated on such date). Senior Secured Notes At December 31, 2016, the Company had $325.0 million aggregate principal amount of 8 5/8% Senior Secured Notes due May 15, 2018 (the “Former Notes”) outstanding under an indenture by and among the Company, the Guarantors named therein (the “Guarantors”), Wells Fargo Bank, National Association, as Trustee (in such capacity, the “Trustee”) and Collateral Agent. The Notes bore interest at a rate of 8.625% per year, payable semi-annually in arrears on May 15 and November 15 of each year. Effective May 17, 2016, Wells Fargo Bank, National Association resigned as Trustee and Collateral Agent and Wilmington Trust was appointed Trustee and Collateral Agent pursuant to the Indenture. On March 3, 2017, the redemption price plus interest on all of the Company’s outstanding $325.0 million principal of the Former Notes was funded to satisfy and discharge the Former Notes from a portion of the net proceeds from the transactions described in this Note 4 under the caption “Ares Investment Transactions.” All of the Former Notes were satisfied and discharged on March 3, 2017 by irrevocably calling for redemption and depositing with the indenture trustee cash in the amount of the redemption price of 102.156% of the principal amount, or principal plus an additional $7.0 million, plus accrued and unpaid interest to the redemption date of March 24, 2017. Additionally, the Company wrote-off $5.2 million of remaining unamortized deferred financing costs related to the Former Notes upon redemption.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements Certain of the Company’s financial assets and liabilities are measured at fair value on a recurring basis. The Company discloses its recognized non-financial assets and liabilities, such as asset retirement obligations, unproved properties and other property and equipment, at fair value on a non-recurring basis. For non-financial assets and liabilities, the Company is required to disclose information that enables users of its financial statements to assess the inputs used to develop these measurements. The Company assesses its unproved properties for impairment whenever events or circumstances indicate the carrying value of those properties may not be recoverable. The fair value of the unproved properties is measured using an income approach based upon internal estimates of future production levels, current and future prices, drilling and operating costs, discount rates, current drilling plans and favorable and unfavorable drilling activity on the properties being evaluated and/or adjacent properties or estimated market data based on area transactions, which are Level 3 (as defined below) inputs. Should an impairment of unproved properties occur, the value of the impaired properties would be reclassified into proved properties in the full cost pool subject to depletion. As no other fair value measurements are required to be recognized on a non-recurring basis at September 30, 2017, no additional disclosures are provided at September 30, 2017. As defined in the guidance, fair value is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). To estimate fair value, the Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated or generally unobservable. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (“Level 1”) and the lowest priority to unobservable inputs (“Level 3”). The three levels of the fair value hierarchy are as follows: • Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. The Company’s cash equivalents consist of short-term, highly liquid investments, which have maturities of 90 days or less, including sweep investments and money market funds. • Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. • Level 3 inputs are measured based on prices or valuation models that require inputs that are both significant to the fair value measurement and less observable from objective sources. These inputs may be used with internally developed methodologies or third party broker quotes that result in management’s best estimate of fair value. The Company’s valuation models consider various inputs including (a) quoted forward prices for commodities, (b) time value, (c) volatility factors and (d) current market and contractual prices for the underlying instruments. Significant increases or decreases in any of these inputs in isolation would result in a significantly higher or lower fair value measurement. Level 3 instruments are commodity costless collars, index swaps, basis and fixed price swaps and put and call options to hedge natural gas, oil and NGLs price risk. At each balance sheet date, the Company performs an analysis of all applicable instruments and includes in Level 3 all of those whose fair value is based on significant unobservable inputs. The fair values derived from counterparties and third-party brokers are verified by the Company using publicly available values for relevant NYMEX futures contracts and exchange traded contracts for each derivative settlement location. Although such counterparty and third-party broker quotes are used to assess the fair value of its commodity derivative instruments, the Company does not have access to the specific assumptions used in its counterparties valuation models. Consequently, additional disclosures regarding significant Level 3 unobservable inputs were not provided and the Company does not currently have sufficient corroborating market evidence to support classifying these contracts as Level 2 instruments. As required, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values below incorporates various factors, including the impact of the counterparty’s non-performance risk with respect to the Company’s financial assets and the Company’s non-performance risk with respect to the Company’s financial liabilities. The Company has not elected to offset the fair value amounts recognized for multiple derivative instruments executed with the same counterparty, but reports them gross on its consolidated balance sheets. Transfers between levels are recognized at the end of the reporting period. There were no transfers between levels during the 2017 and 2016 periods. The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2017 and December 31, 2016: Fair value as of September 30, 2017 Level 1 Level 2 Level 3 Total (in thousands) Assets: Cash and cash equivalents $ 29,229 $ — $ — $ 29,229 Commodity derivative contracts — — 4,816 4,816 Liabilities: Commodity derivative contracts — — (455 ) (455 ) Total $ 29,229 $ — $ 4,361 $ 33,590 Fair value as of December 31, 2016 Level 1 Level 2 Level 3 Total (in thousands) Assets: Cash and cash equivalents $ 71,529 $ — $ — $ 71,529 Commodity derivative contracts — — 7,850 7,850 Liabilities: Commodity derivative contracts — — (338 ) (338 ) Total $ 71,529 $ — $ 7,512 $ 79,041 The table below presents a reconciliation of the assets and liabilities classified as Level 3 in the fair value hierarchy for the three and nine months ended September 30, 2017 and 2016. Level 3 instruments presented in the table consist of net derivatives that, in management’s opinion, reflect the assumptions a marketplace participant would have used at September 30, 2017 and 2016. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Balance at beginning of period $ 9,436 $ 12,782 $ 7,512 $ 24,418 Total (losses) gains included in earnings (2,896 ) (1,498 ) 3,782 (3,991 ) Purchases — — 470 565 Issuances — — — (165 ) Settlements (1) (2,179 ) (2,231 ) (7,403 ) (11,774 ) Balance at end of period $ 4,361 $ 9,053 $ 4,361 $ 9,053 The amount of total (losses) gains for the period included in earnings attributable to the change in mark to market of commodity derivatives contracts still held at September 30, 2017 and 2016 $ (4,672 ) $ (3,134 ) $ (1,898 ) $ (12,974 ) (1) Included in gain (loss) on commodity derivatives contracts on the condensed consolidated statements of operations. At September 30, 2017, the estimated fair value of accounts receivable, accounts and revenue payables approximates their carrying value due to their short-term nature. The estimated fair value of the Notes excluding the conversion feature at September 30, 2017 was $132.7 million calculated based on the fair value of similar non-convertible debt instruments (Level 2) since an observable quoted price of the Notes or a similar asset or liability is not readily available. The estimated fair value of the Term Loan at September 30, 2017 was $214.9 million calculated based on the fair value of similar debt instruments (Level 2) since an observable price of the Term Loan or a similar asset or liability is not readily available. The Company has consistently applied the valuation techniques discussed above in all periods presented.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activity	9 Months Ended
	Sep. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activity	6. Derivative Instruments and Hedging Activity The Company maintains a commodity price risk management strategy that uses derivative instruments to minimize significant, unanticipated earnings fluctuations that may arise from volatility in commodity prices. The Company uses costless collars, index, basis and fixed price swaps and put and call options to hedge oil, condensate, natural gas and NGLs price risk. All derivative contracts are carried at their fair value on the balance sheet and all changes in value are recorded in the condensed consolidated statements of operations in (loss) gain on commodity derivatives contracts. For the three months ended September 30, 2017 and 2016, the Company reported losses of $4.7 million and $3.1 million, respectively, in the condensed consolidated statements of operations related to the change in the fair value of its commodity derivative contracts still held at September 30, 2017 and 2016. For the nine months ended September 30, 2017 and 2016, the Company reported losses of $1.9 million and $13.0 million, respectively, in the consolidated statements of operations related to the change in the fair value of its commodity derivative contracts still held at September 30, 2017 and 2016. As of September 30, 2017, the following crude derivative transactions were outstanding with the associated notional volumes and weighted average underlying hedge prices: Settlement Period Derivative Instrument Average Daily Volume (1) Total of Notional Volume Base Fixed Price Floor (Long) Short Put Ceiling (Short) (in Bbls) October to December 2017 Costless three-way collar 280 25,760 $ — $ 80.00 $ 65.00 $ 97.25 October 2017 Costless three-way collar 200 6,200 $ — $ 80.00 $ 60.00 $ 98.70 November 2017 Costless three-way collar 250 7,500 $ — $ 80.00 $ 60.00 $ 98.70 December 2017 Costless three-way collar 200 6,200 $ — $ 80.00 $ 60.00 $ 98.70 October to December 2017 Put spread 500 46,000 $ — $ 82.00 $ 62.00 $ — October to December 2017 Fixed price swap 400 36,800 $ 54.50 $ — $ — $ — October to December 2017 Fixed price swap 150 13,800 $ 53.80 $ — $ — $ — October to December 2017 Fixed price swap 150 13,800 $ 50.25 $ — $ — $ — October to December 2017 Fixed price swap 500 46,000 $ 50.00 $ — $ — $ — October to December 2017 Fixed price swap 500 46,000 $ 50.00 $ — $ — $ — October to December 2017 Fixed price swap 100 9,200 $ 50.60 $ — $ — $ — October to December 2017 Fixed price swap 100 9,200 $ 50.94 $ — $ — $ — October to December 2017 Fixed price swap 100 9,200 $ 50.50 $ — $ — $ — October to December 2017 Fixed price swap 100 9,200 $ 50.65 $ — $ — $ — October to December 2017 Fixed price swap 100 9,200 $ 50.35 $ — $ — $ — December 2017 Fixed price swap 350 10,850 $ 52.33 $ — $ — $ — October to December 2017 Costless collar 200 18,400 $ — $ 45.00 $ — $ 53.50 January to December 2018 Costless three-way collar 500 182,500 $ — $ 50.00 $ 40.00 $ 61.60 January to March 2018 Costless three-way collar 1,800 162,000 $ — $ 47.50 $ 37.50 $ 57.85 April to June 2018 Costless three-way collar 1,700 154,700 $ — $ 47.50 $ 37.50 $ 57.85 July to September 2018 Costless three-way collar 1,600 147,200 $ — $ 47.50 $ 37.50 $ 57.85 October to December 2018 Costless three-way collar 1,700 156,400 $ — $ 47.50 $ 37.50 $ 57.85 January to August 2018 Put spread 425 103,275 $ — $ 80.00 $ 60.00 $ — January to June 2018 Fixed price swap 600 108,600 $ 51.20 $ — $ — $ — January to June 2018 Fixed price swap 200 182,500 $ 50.11 $ — $ — $ — July to September 2018 Fixed price swap 500 46,000 $ 51.20 $ — $ — $ — October to December 2018 Fixed price swap 600 55,200 $ 51.20 $ — $ — $ — January to September 2019 Costless three-way collar 2,000 546,000 $ — $ 47.50 $ 37.50 $ 59.70 October to December 2019 Costless three-way collar 1,900 174,800 $ — $ 47.50 $ 37.50 $ 59.70 January to September 2019 Fixed price swap 700 191,100 $ 50.40 $ — $ — $ — October to December 2019 Fixed price swap 600 55,200 $ 50.40 $ — $ — $ — (1) Crude volumes hedged include oil, condensate and certain components of our NGLs production. As of September 30, 2017, the following natural gas derivative transactions were outstanding with the associated notional volumes and weighted average underlying hedge prices: Settlement Period Derivative Instrument Average Daily Volume Total of Notional Volume Base Fixed Price Floor (Long) Short Put Ceiling (Short) (in MMBtus) November to December 2017 Costless three-way collar 5,000 305,000 $ — $ 3.00 $ 2.35 $ 4.00 November to December 2017 Fixed price swap 2,600 158,600 $ 3.40 $ — $ — $ — November to December 2017 Costless Collar 2,600 158,600 $ — $ 3.00 $ — $ 3.89 January to December 2018 Costless three-way collar 5,000 1,825,000 $ — $ 3.00 $ 2.35 $ 4.00 January to March 2018 Costless Collar 5,800 522,000 $ — $ 3.00 $ — $ 4.28 As of September 30, 2017, all of the Company’s economic derivative hedge positions were with large institutions, which are not known to the Company to be in default on their derivative positions. The Company is exposed to credit risk to the extent of non-performance by the counterparties in the derivative contracts discussed above; however, the Company does not anticipate non-performance by such counterparties. None of the Company’s derivative instruments contain credit-risk related contingent features. In conjunction with certain derivative hedging activity, the Company deferred the payment of certain put premiums for the production month period October 2017 through December 2018. The put premium liabilities become payable monthly as the hedge production month becomes the prompt production month. The Company amortizes the deferred put premium liabilities as they become payable. The following table provides information regarding the deferred put premium liabilities for the periods indicated: September 30, 2017 December 31, 2016 (in thousands) Current commodity derivative put premium payable $ 1,337 $ 1,654 Long-term commodity derivative put premium payable 34 969 Total unamortized put premium liabilities $ 1,371 $ 2,623 For the Three Months Ended September 30, 2017 For the Nine Months Ended September 30, 2017 (in thousands) Put premium liabilities, beginning balance $ 1,773 $ 2,623 Settlement of put premium liabilities (402 ) (1,722 ) Additional put premium liabilities — 470 Put premium liabilities, ending balance $ 1,371 $ 1,371 The following table provides information regarding the amortization of the deferred put premium liabilities by year as of September 30, 2017: Amortization (in thousands) October to December 2017 $ 402 January to December 2018 969 Total unamortized put premium liabilities $ 1,371 Additional Disclosures about Derivative Instruments and Hedging Activities The tables below provide information on the location and amounts of derivative fair values in the condensed consolidated statement of financial position and derivative gains and losses in the condensed consolidated statement of operations for derivative instruments that are not designated as hedging instruments: Fair Values of Derivative Instruments Derivative Assets (Liabilities) Fair Value Balance Sheet Location September 30, 2017 December 31, 2016 (in thousands) Derivatives not designated as hedging instruments Commodity derivative contracts Current assets $ 4,400 $ 6,212 Commodity derivative contracts Other assets 416 1,638 Commodity derivative contracts Current liabilities (326 ) (338 ) Commodity derivative contracts Long-term liabilities (129 ) — Total derivatives not designated as hedging instruments $ 4,361 $ 7,512 Amount of Gain (Loss) Recognized in Income on Derivatives For the Three Months Ended September 30, Location of Loss Recognized in Income on Derivatives 2017 2016 (in thousands) Derivatives not designated as hedging instruments Commodity derivative contracts Loss on commodity derivatives contracts $ (2,896 ) $ (1,498 ) Total $ (2,896 ) $ (1,498 ) Amount of Gain (Loss) Recognized in Income on Derivatives For the Nine Months Ended September 30, Location of Gain (Loss) Recognized in Income on Derivatives 2017 2016 (in thousands) Derivatives not designated as hedging instruments Commodity derivative contracts Gain (loss) on commodity derivatives contracts $ 3,782 $ (3,991 ) Total $ 3,782 $ (3,991 )

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2017
Stockholders Equity Note [Abstract]
Capital Stock	7. Capital Stock Common Stock On May 7, 2015, the Company entered into the ATM Program with MLV & Co. LLC (the “Sales Agent”) to sell, from time to time through the Sales Agent, shares of the Company’s common stock. The shares were issued pursuant to the Company’s then-existing effective shelf registration statement on Form S-3, as amended (Registration No. 333-193832). The Company registered shares having an aggregate offering price of up to $50.0 million. During the year ended December 31, 2016, 18,606,943 shares were sold through the ATM Program for net proceeds of $24.4 million. For the period January 1, 2017 to February 20, 2017, the Company sold 5,447,919 shares through the ATM Program for net proceeds of $8.3 million. The ATM Program expired February 24, 2017. On March 3, 2017, the Purchasers affiliated with Ares purchased for cash (i) $125.0 million aggregate principal amount of Notes sold at par and (ii) 29,408,305 shares of Common Stock for a purchase price of $50.0 million. The Common Stock sale was priced based on a 30-trading day VWAP of $1.7002 determined on February 15, 2017 the date immediately prior to the signing date of the Purchase Agreement with Purchasers in respect to such sale. On March 21, 2017, the Company sold to Purchasers affiliated with Ares an additional $75.0 million aggregate principal amount of Notes. Pursuant to the purchase agreement for the Additional Notes, after obtaining the Requisite Stockholder Approval, on May 5, 2017, the Company and the Purchasers exchanged $37.5 million aggregate principal amount of the outstanding Additional Notes for the issuance to Purchasers of the Mandatory Repurchase. The Notes are convertible into shares of Common Stock as described in more detail in Note 4. On June 27, 2017, the Company’s stockholders approved an amendment to the Company’s certificate of incorporation to increase the number of authorized shares of common stock from 550,000,000 to 800,000,000, which amendment became effective on July 24, 2017. Stockholder Rights Agreements On January 18, 2016, the Company’s board of directors adopted the Rights Agreement dated as of January 18, 2016, between the Company and American Stock Transfer & Trust Company, LLC (the “2016 Rights Agreement”) pursuant to which the Company declared a dividend of one right (a “2016 Right”) for each of the Company’s issued and outstanding shares of common stock. The dividend was paid to stockholders of record on January 28, 2016. Each 2016 Right entitled the holder, subject to the terms of the 2016 Rights Agreement, to purchase one one-thousandth of a share of the Company’s Series C Junior Participating Preferred Stock (the “Series C Preferred Stock”) at a price of $6.96, subject to certain adjustments. The purpose of the 2016 Rights Agreement was to diminish the risk that the Company’s ability to reduce potential future federal income tax obligations would become subject to limitations by reason of an “ownership change,” as defined in Section 382 of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”). The 2016 Rights and the 2016 Rights Agreement expired on January 18, 2017. On January 27, 2017, the Company’s board of directors adopted the Rights Agreement dated as of January 27, 2017, between the Company and American Stock Transfer & Trust Company, LLC (the “2017 Rights Agreement”) pursuant to which the Company declared a dividend of one right (a “Right”) for each of the Company’s issued and outstanding shares of common stock. The dividend was paid to stockholders of record on February 10, 2017. Each Right entitled the holder, subject to the terms of the 2017 Rights Agreement, to purchase one one-thousandth of a share of Series C Preferred Stock at a price of $10.74, subject to certain adjustments. The purpose of the 2017 Rights Agreement was to diminish the risk that the Company’s ability to reduce potential future federal income tax obligations would become subject to limitations by reason of an “ownership change,” as defined in Section 382 of the Internal Revenue Code. On April 6, 2017, the Company amended the 2017 Rights Agreement to accelerate the expiration of the Rights to 5:00 P.M., New York City time on April 6, 2017, which had the effect of terminating the Rights and the 2017 Rights Agreement on that date. In connection with entering into the recent equity and convertible debt transactions with funds managed indirectly by Ares , the Company determined that the value of the U.S. federal income tax benefits in the form of net operating losses have substantially been diminished by reason of an “ownership change,” as defined under Section 382 of the Internal Revenue Code, in 2017. As a result, the Company decided to terminate the Rights. Preferred Stock Pursuant to the Company’s certificate of incorporation, the Company has 40,000,000 shares of preferred stock authorized with a par value of $0.01 per share. The Company has designated 10,000,000 of such shares to constitute its 8.625% Series A Cumulative Preferred Stock (the “Series A Preferred Stock”) and 10,000,000 of such shares to constitute its 10.75% Series B Cumulative Preferred Stock (the “Series B Preferred Stock”). The Series A Preferred Stock and the Series B Preferred Stock each have a liquidation preference of $25.00 per share. The Company has designated 550,000 of such shares as Series C Junior Participating Preferred Stock. On March 22, 2017, the Company designated 2,000 shares of such shares as Special Voting Preferred Stock with a liquidation preference of $0.01 for each such share, which is junior and subordinate to the right of the holders of any shares of any other existing or future series of preferred stock. Series A Preferred Stock At September 30, 2017, there were 4,045,000 shares of the Series A Preferred Stock issued and outstanding with a $25.00 per share liquidation preference. The Series A Preferred Stock ranks senior (to the extent of its stated liquidation preference and any accumulated and unpaid dividends) to the Company's common stock and on parity with the Series B Preferred Stock with respect to the payment of dividends and distribution of assets upon liquidation, dissolution or winding up. The Series A Preferred Stock is subordinated to all of the Company’s existing and future debt and all future capital stock designated as senior to the Series A Preferred Stock. The Series A Preferred Stock cannot be converted into common stock, but may be redeemed, at the Company’s option for $25.00 per share plus any accrued and unpaid dividends whether declared or not. There is no mandatory redemption of the Series A Preferred Stock. The Company paid monthly dividends on the Series A Preferred Stock at a fixed rate of 8.625% per annum of the $25.00 per share liquidation preference through March 2016. Effective March 9, 2016, the Revolving Credit Facility prohibited the payment of cash dividends on the Company’s preferred stock commencing April 2016. Pursuant to Amendment No. 10, on January 10, 2017, the Company declared a special cash dividend on the Series A Preferred Stock to pay in full all accumulated and unpaid cash dividends since April 1, 2016 at an annualized 8.625% through the payment date. The Series A Preferred Stock January 2017 dividend of $7.3 million was payable on January 31, 2017 to holders of record at the close of business on January 20, 2017. On August 1, 2017, primarily in response to the decline in oil prices and to preserve liquidity, the Company elected to suspend Series A Preferred Stock dividends commencing August 2017. Dividends on the Series A Preferred Stock accumulate regardless of whether any such dividends are declared. If the Company fails to pay full cash dividends in four calendar quarters, whether consecutive or non-consecutive, then commencing in the calendar month following the first month in such fourth calendar quarter in which cash dividends are not paid in full, and until accumulated dividends are paid in full for four calendar quarters with the last two calendar quarters’ dividends paid in cash, (i) the fixed dividend rate of Series A Preferred Stock each increases by 2.00% per annum, (ii) the Company may be required to issue a dividend of common stock to pay accrued and unpaid dividends, if such dividends are not paid in cash, provided it has sufficient surplus to pay such a dividend under state law, and (iii) the holders of Series A Preferred Stock and Series B Preferred Stock, voting as a single class, will have the right to elect up to two additional directors to the board of directors of the Company. Under certain circumstances, “pay in kind” dividends of additional shares of Series A Preferred Stock may be payable in lieu of cash or common stock dividends. For the three and nine months ended September 30, 2017, the Company recognized cash dividends of $727,000 and $5.1 million, respectively, and recognized undeclared cumulative dividends of $1.5 million for the three and nine months ended September 30, 2017, respectively, for the Series A Preferred Stock. For the three and nine months ended September 30, 2016, the Company recognized undeclared cumulative dividends of $2.2 million and $4.4 million, respectively, for the Series A Preferred Stock and for the nine months ended September 30, 2016, the Company recognized cash dividends on preferred stock of $2.2 million for the Series A Preferred Stock. Series B Preferred Stock At September 30, 2017, there were 2,140,000 shares of the Series B Preferred Stock issued and outstanding with a $25.00 per share liquidation preference. The Series B Preferred Stock ranks senior (to the extent of its stated liquidation preference and any accumulated and unpaid dividends) to the Company’s common stock and on parity with the Series A Preferred Stock with respect to the payment of dividends and distribution of assets upon liquidation, dissolution or winding up. The Series B Preferred Stock are subordinated to all of the Company’s existing and future debt and all future capital stock designated as senior to the Series B Preferred Stock. Except upon a change in ownership or control, as defined in the Series B Preferred Stock certificate of designations of rights and preferences, the Series B Preferred Stock may not be redeemed before November 15, 2018, at or after which time it may be redeemed at the Company’s option for $25.00 per share in cash. Following a change in ownership or control, the Company will have the option to redeem the Series B Preferred Stock within 90 days of the occurrence of the change in control, in whole but not in part for $25.00 per share in cash, plus accrued and unpaid dividends (whether or not declared), up to, but not including the redemption date. If the Company does not exercise its option to redeem the Series B Preferred Stock upon a change of ownership or control, the holders of the Series B Preferred Stock have the option to convert the shares of Series B Preferred Stock into the Company's common stock based upon on an average common stock trading price then in effect but limited to an aggregate of 11.5207 shares of the Company’s common stock per share of Series B Preferred Stock, subject to certain adjustments. If the Company exercises any of its redemption rights relating to shares of Series B Preferred Stock, the holders of Series B Preferred Stock will not have the conversion right described above with respect to the shares of Series B Preferred Stock called for redemption. There is no mandatory redemption of the Series B Preferred Stock. The Company paid monthly dividends on the Series B Preferred Stock at a fixed rate of 10.75% per annum of the $25.00 per share liquidation preference through March 2016. Effective March 9, 2016, the Revolving Credit Facility prohibited the payment of cash dividends on the Company’s preferred stock commencing April 2016. Pursuant to Amendment No. 10, on January 10, 2017, the Company declared a special cash dividend on the Series B Preferred Stock to pay in full all accumulated and unpaid cash dividends since April 1, 2016 at an annualized 10.75% through the payment date. The Series B Preferred Stock January 2017 dividend in the amount of $4.8 million was payable on January 31, 2017 to holders of record at the close of business on January 20, 2017. On August 1, 2017, primarily in response to the decline in oil prices and to preserve liquidity, the Company elected to suspend Series B Preferred Stock dividends commencing August 2017. Dividends on the Series B Preferred Stock will accumulate regardless of whether any such dividends are declared. If the Company fails to pay full cash dividends in four calendar quarters, whether consecutive or non-consecutive, then commencing in the calendar month following the first month in such fourth calendar quarter in which cash dividends are not paid in full, and until accumulated dividends are paid in full for four calendar quarters with the last two calendar quarters’ dividends paid in cash, (i) the fixed dividend rate of Series B Preferred Stock each increases by 2.00% per annum, (ii) the Company may be required to issue a dividend of common stock to pay accrued and unpaid dividends, if such dividends are not paid in cash, provided it has sufficient surplus to pay such a dividend under state law, and (iii) the holders of Series A Preferred Stock and Series B Preferred Stock, voting as a single class, will have the right to elect up to two additional directors to the board of directors of the Company. Under certain circumstances, “pay in kind” dividends of additional shares of Series B Preferred Stock may be payable in lieu of cash or common stock dividends. For the three and nine months ended September 30, 2017, the Company recognized cash dividends of $479,000 and $3.4 million, respectively, and recognized undeclared cumulative dividends of $959,000 for the three and nine months ended September 30, 2017, respectively, for the Series B Preferred Stock. For the three and nine months ended September 30, 2016, the Company recognized undeclared cumulative dividends of $1.4 million and $2.9 million, respectively, for the Series B Preferred Stock, and for the nine months ended September 30, 2016, the Company recognized cash dividends on preferred stock of $1.4 million for the Series B Preferred Stock. Series C Preferred Stock No shares of Series C Preferred Stock have been issued by the Company pursuant to the Stockholder Rights Agreements described above or otherwise. Special Voting Preferred Stock On May 4, 2017, the Company issued to Purchasers affiliated with Ares 2,000 shares of Special Voting Preferred Stock in connection with the exchange of $37.5 million principal of outstanding Notes described above in this Note 7 under the caption “Common Stock.” The Special Voting Preferred Stock may be redeemed in whole any time after the initial holders beneficially own less than 5% of the Common Stock subject to the terms of its certificate of designation (the “Certificate of Designation”). There is no mandatory redemption of the Special Voting Preferred Stock. Holders of the Special Voting Preferred Stock are not entitled to receive any dividends declared and paid by the Company. The Company’s Special Voting Preferred Stock have no voting rights, other than that the holders of the Special Voting Preferred Stock have the right to elect two members of the Company’s board of directors for so long as the initial holders, any specified subsequent holders (as defined in the Certificate of Designation) and their respective affiliates beneficially own at least 15% of the outstanding Common Stock in the aggregate, and the right to elect one member of the board of directors for so long as the initial holders, subsequent holders and their respective affiliates beneficially own at least 5% but less than 15% of the outstanding Common Stock in the aggregate. The Certificate of Designation contains certain restrictions on transfer of the Special Voting Preferred Stock. Other Share Issuances The following table provides information regarding the issuances and forfeitures of common stock pursuant to the Company's long-term incentive plan for the periods indicated: For the Three Months Ended September 30, 2017 For the Nine Months Ended September 30, 2017 Other share issuances: Shares of restricted common stock granted 5,000,000 8,649,345 Shares of restricted common stock vested 24,338 1,193,263 Shares of restricted common stock surrendered upon vesting/exercise (1) 871 356,450 Shares of restricted common stock forfeited — 36,747 _________________ (1) Represents shares of common stock forfeited in connection with the payment of estimated withholding taxes on shares of restricted common stock that vested during the period. On June 27, 2017, the Company’s stockholders approved an amendment to the Gastar Exploration Inc. Long-Term Incentive Plan (the “LTIP”), effective May 2, 2017, to, among other things, increase the number of shares of common stock reserved for issuance under the LTIP by 14,000,000 shares of common stock. There were 6,565,088 shares of common stock available for issuance under the LTIP at September 30, 2017. Due to a shortage in number of shares available under the LTIP at the time of the annual equity grant in January 2017, the Company granted 372,741 restricted stock units and 171,310 restricted stock units to its chief executive officer and chief financial officer, respectively. The restricted stock units were granted in place of restricted common stock and upon approval of stockholders of additional shares to the LTIP, the restricted stock units were converted to restricted common stock that will vest in three equal annual installments beginning on January 30, 2018. Additionally, the Company granted 372,741 performance based rights units and 171,310 performance based rights units to its chief executive officer and chief financial officer, respectively. The performance based rights units were issued in place of performance based units and upon approval of stockholders of additional shares to the LTIP, the performance based rights units were converted to performance based units that will vest in their entirety at the end of a three-year performance period with settlement in common stock between 0% and 200% of the target award based on the Company’s share price appreciation over a three-year performance period relative to a peer index. The performance based rights units have no voting rights. Shares Reserved At September 30, 2017, the Company had 164,400 common shares reserved for the exercise of stock options.

Interest Expense

Interest Expense	9 Months Ended
	Sep. 30, 2017
Interest Expense [Abstract]
Interest Expense	8. Interest Expense The following table summarizes the components of interest expense for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Interest expense: Cash and accrued $ 8,897 $ 8,158 $ 26,103 $ 25,275 Amortization of deferred financing costs and debt discount 3,291 986 8,218 3,812 Capitalized interest (2,029 ) (966 ) (4,577 ) (2,348 ) Total interest expense $ 10,159 $ 8,178 $ 29,744 $ 26,739

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes For the three and nine months ended September 30, 2017 and 2016, respectively, the Company did not recognize a current income tax benefit or provision as the Company has a full valuation allowance against assets created by net operating losses generated. The Company believes it more likely than not that the assets will not be utilized. In connection with the Company’s recent equity and convertible debt transactions during 2017, the Company believes that the utilization of net operating losses in future years could be subjected to limitations by reason of an “ownership change” as defined under Section 382 of the Internal Revenue Code.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings per Share	10. Earnings per Share In accordance with the provisions of current authoritative guidance, basic earnings or loss per share is computed on the basis of the weighted average number of common shares outstanding during the periods. Diluted earnings or loss per share is computed based upon the weighted average number of common shares outstanding plus the assumed issuance of common shares for all potentially dilutive securities. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands, except per share and share data) Net loss attributable to common stockholders $ (15,917 ) $ (3,796 ) $ (44,631 ) $ (95,371 ) Weighted average common shares outstanding - basic 209,072,232 129,301,817 190,745,688 104,125,317 Incremental shares from unvested restricted shares — — — — Incremental shares from outstanding stock options — — — — Incremental shares from outstanding PBUs — — — — Weighted average common shares outstanding - diluted 209,072,232 129,301,817 190,745,688 104,125,317 Net loss per share of common stock attributable to common stockholders: Basic $ (0.08 ) $ (0.03 ) $ (0.23 ) $ (0.92 ) Diluted $ (0.08 ) $ (0.03 ) $ (0.23 ) $ (0.92 ) Common shares excluded from denominator as anti-dilutive: Unvested restricted shares 553,671 170,362 750,499 540,994 Unvested PBUs 1,654,841 1,041,493 713,911 837,199 Convertible notes 73,520,769 — 63,319,752 — Total 75,729,281 1,211,855 64,784,162 1,378,193

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Litigation Gastar Exploration Inc. v. Christopher McArthur (Cause No.: 2015-77605) 157th Judicial District Court, Harris County, Texas. On December 29, 2015, Gastar filed suit against Christopher McArthur (“McArthur”) in the District Court of Harris County, Texas. The lawsuit arises from a demand letter sent by McArthur to Gastar in which he claimed to be party to an agreement with Gastar that entitled him to be paid $2.75 million for services rendered. In August 2016, McArthur filed an amended answer admitting he had no agreement with the Company. As a result, Gastar believes McArthur’s claim has been effectively resolved. Gastar has continued to pursue a counterclaim in this action against McArthur for tortious interference with an existing contract. McArthur has filed a general denial. Torchlight Energy Resources, Inc., Torchlight Energy, Inc. v. Husky Ventures, Inc., et al., (Cause No. 429-01961-2016) 429th Judicial District Court in Collin County, Texas. Torchlight Energy Resources, Inc. and Torchlight Energy, Inc. (collectively “Torchlight”) brought a lawsuit against the Company, two of its executive officers, its chairman of the board of directors and a former director of the Company on May 3, 2016 in Collin County, Texas (the “Torchlight Lawsuit”). The Torchlight Lawsuit arises primarily out of Torchlight’s business dealings with Husky Ventures, Inc. (“Husky”) in Oklahoma. Husky and several of its employees and affiliates are also defendants in the Torchlight Lawsuit. As part of settlement negotiations between Husky and the Company in a separate lawsuit, Husky informed the Company that it had agreed to repurchase assets from Torchlight that Husky had previously sold to Torchlight (the “Torchlight Assets”). Husky offered to sell those Torchlight Assets to the Company. In the Purchase and Sale Agreement between Torchlight and Husky (the “Purchase and Sale Agreement”), Torchlight expressly acknowledged that the Torchlight Assets were to be sold to the Company and released the Company from any claims arising out of the sale of the Torchlight Assets. Despite this release, Torchlight alleged multiple causes of action against the Company and its officers and directors arising out of the sale of the Torchlight Assets and Torchlight’s other business dealings it had with Husky. On August 17, 2016, Plaintiffs nonsuited, without prejudice, their claims against the former chairman of the board. On May 22, 2017, the court granted the Company’s motion for summary judgment and dismissed all of the Plaintiffs’ claims against the Company and the Company’s other officers and directors in their entirety. The Company has also filed a counterclaim against Torchlight for breach of the release in the Purchase and Sale Agreement which is still pending. PennMarc Resources II, LP, et al v. Gastar Exploration USA, Inc., et al, (Civil Action No. 17-C-214) Circuit Court of Marshall County, West Virginia. PennMarc Resources II, LP and others filed suit against the Company on October 23, 2017 in the Circuit Court of Marshall County, West Virginia. The plaintiffs are royalty owners under various leases taken by or assigned to the Company. The leases cover property in Marshall County, West Virginia. The leases are among other assets that were assigned to THQ Appalachia, LLC pursuant to a purchase and sale agreement dated February 12, 2016. The plaintiffs allege that the Company breached the leases by making deductions for post-production costs that were not authorized by the terms of the leases. The plaintiffs also allege that the unauthorized deductions were not shown on the monthly royalty statements and the failure to detail the deduction of these costs was a further breach of the leases and fraud. The plaintiffs claim of breach of contract, breach of fiduciary duty and fraudulent concealment. The plaintiffs seek compensatory damages and punitive damages. The Company is still assessing this claim and has not yet filed a response. The Company has been expensing legal costs on these proceedings as they are incurred. The Company is party to various legal proceedings arising in the normal course of business. The ultimate outcome of each of these matters cannot be absolutely determined, and the liability the Company may ultimately incur with respect to any one of these matters in the event of a negative outcome may be in excess of amounts currently accrued for with respect to such matters. Net of available insurance and performance of contractual defense and indemnity obligations, where applicable, management does not believe any such matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Statement of Cash Flows - Suppl

Statement of Cash Flows - Supplemental Information	9 Months Ended
	Sep. 30, 2017
Supplemental Cash Flow Information [Abstract]
Statement of Cash Flows - Supplemental Information	12. Statement of Cash Flows – Supplemental Information The following is a summary of the supplemental cash paid and non-cash transactions for the periods indicated: For the Nine Months Ended September 30, 2017 2016 (in thousands) Cash paid for interest, net of capitalized amounts $ 17,770 $ 16,140 Non-cash transactions: Capital expenditures included in accounts payable and accrued drilling costs $ 12,176 $ 4,913 Capital expenditures included in accounts receivable $ 76 $ 409 Asset retirement obligation included in oil and natural gas properties $ 403 $ 92 Asset retirement obligation sold $ (1,533 ) $ (694 ) Application of advances to operators $ 24 $ (378 ) Non-cash financing charges excluded from accounts payable and accrued liabilities $ 19 $ — Expenses accrued for issuance of common stock $ — $ 2 Undeclared cumulative dividends on preferred stock $ 2,412 $ 7,237 Conversion of convertible debt to equity $ 37,500 $ —

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events Pursuant to Amendment No. 2, on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan to $256.6 million at such time.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Accounting	The unaudited interim condensed consolidated financial statements of the Company included herein are stated in U.S. dollars and were prepared from the records of the Company by management in accordance with U.S. GAAP applicable to interim financial statements and reflect all normal and recurring adjustments, which are, in the opinion of management, necessary to provide a fair presentation of the results of operations and financial position for the interim periods. Such financial statements conform to the presentation reflected in the 2016 Form 10-K. The current interim period reported herein should be read in conjunction with the financial statements and accompanying notes, including Item 8. “Financial Statements and Supplementary Data, Note 2 – Summary of Significant Accounting Policies,” included in the 2016 Form 10-K.
Subsequent Events	Subsequent Events In preparing these financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued and has disclosed certain subsequent events in these condensed consolidated financial statements, as appropriate.
Accounts Receivable	Accounts Receivable Accounts receivable are reported net of the allowance for doubtful accounts. The allowance for doubtful accounts is determined based on a review of the Company’s receivables. Receivable accounts are charged off when collection efforts have failed or the account is deemed uncollectible. During 2016, the Company determined that a receivable account from a third-party natural gas and NGLs purchaser would no longer be collectible as a result of the third-party purchaser filing for bankruptcy. A summary of the activity related to the allowance for doubtful accounts is as follows: September 30, 2017 December 31, 2016 (in thousands) Allowance for doubtful accounts, beginning of period $ 1,953 $ — Expense — 1,953 Reductions/write-offs — — Allowance for doubtful accounts, end of period $ 1,953 $ 1,953
Recent Accounting Developments	Recent Accounting Developments Business Combinations. In January 2017, the FASB issued updated guidance to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this update provide a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. If the screen is not met, the amendments in this update (1) require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (2) remove the evaluation of whether a market participant could replace missing elements. The amendments in this update affect all reporting entities that must determine whether they have acquired or sold a business and are effective for public business entities for annual reporting periods beginning after December 15, 2017, including interim periods within those periods. The amendments should be applied prospectively on or after the effective date and no disclosures are required at transition. Early application is allowed as follows (1) for transactions for which the acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance and (2) for transactions in which a subsidiary is deconsolidated or a group of assets is derecognized that occur before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. The application of this guidance to future acquisitions and disposals could have an effect on the Company’s financial position or results of operations. Statement of Cash Flows. In August 2016, the FASB issued updated guidance associated with the classification of certain cash receipts and cash payments on the statement of cash flows. The amended guidance addresses specific cash flow issues with the objective of reducing existing diversity in practice. The amendment provides guidance on the following eight specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies; distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. The amendments in this update apply to all entities required to present a statement of cash flows. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. Amendments should be applied using a retrospective transition method to each period presented. If it is impracticable to apply the amendments retrospectively for some of the issues, the amendments for those issues would be applied prospectively as of the earliest date practicable. The Company is currently evaluating the effect that adopting this guidance will have on its presentation of cash flows and does not believe the effects of adopting this updated guidance will have a material effect on its statement of cash flows nor that it will affect the Company’s financial position or results of operations. Compensation – Stock Compensation. In March 2016, the FASB issued updated guidance as part of its simplification initiative which is intended to simplify several aspects of the accounting for stock-based compensation transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. For public business entities, the amendments in this update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement should be applied retrospectively. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term should be applied prospectively. An entity may elect to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using either a prospective transition method or a retrospective transition method. The Company adopted this updated guidance for the fiscal year beginning January 1, 2017 and recorded a cumulative adjustment of approximately $657,000 to retained earnings to properly reflect the adjustment to stock compensation expense to reduce the forfeiture rate to 0%. Leases. In February 2016, the FASB issued updated guidance to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and enhance disclosures regarding key information about leasing arrangements. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases. The new lease guidance also simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. The amendments in this update are effective beginning on January 1, 2019 and should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. The Company has begun analyzing its lease contracts but has not yet determined what the effects of adopting this updated guidance will be on its consolidated financial statements. Income Taxes. In November 2015, the FASB issued updated guidance as part of its simplification initiative for the presentation of deferred taxes. Current U.S. GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position where such classification generally does not align with the time period in which the recognized deferred tax amounts are expected to be recovered or settled. To simplify the presentation of deferred income taxes, the amendments in this update require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position and apply to all entities that present a classified statement of financial position, resulting in the alignment of the presentation of deferred income tax assets and liabilities with International Financial Reporting Standards. International Accounting Standard 1, . This updated guidance is effective for public business entities for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company has adopted this guidance prospectively and such adoption did not have an impact on its consolidated financial statements. Revenue Recognition. In May 2014, the FASB issued an amendment to previously issued guidance regarding the recognition of revenue, which supersedes the revenue recognition requirements in Accounting Standards Codification Topic 605, “Revenue Recognition,” and most industry-specific guidance. The FASB and the International Accounting Standards Board initiated a joint project to clarify the principles for recognizing revenue and to develop a common standard that would (i) remove inconsistencies and weaknesses in revenue requirements, (ii) provide a more robust framework for addressing revenue issues, (iii) improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets, (iv) provide more useful information to users of financial statements through improved disclosure requirements and (v) simplify the preparation of financial statements by reducing the number of requirements to which an entity must refer. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, an entity should apply the following steps: (1) identify the contract(s) with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This guidance supersedes prior revenue recognition requirements and most industry-specific guidance throughout the FASB Accounting Standards Codification. In 2015, the FASB delayed the effective date one year, beginning in fiscal year 2018. The Company has substantially completed its scoping and assessment of impact of the new revenue recognition standard. The Company has evaluated a representative sample of revenue contracts related to its oil, natural gas and NGLs revenues. For these contracts, the Company has reviewed the contract provisions and evaluated the contracts under the new standard to assess the impact on the quantum and timing of revenue recognition and presentation of revenues on adoption of the new guidance. The Company believes that it has identified all material contract types and contractual features that represent the Company’s revenue. Based upon work completed to date, the Company does not currently expect that the adoption of this standard will have a material impact on net profit, although the Company does believe that certain reclassifications between revenue and expenses may be required based upon its assessment of i) where control passes to the customer and ii) whether the Company represents the principal or agent in certain arrangements. In addition, the Company’s disclosures surrounding revenue recognition will be more substantial upon adoption. These conclusions are subject to change and the Company is continuing to evaluate the requirements of this standard as it works towards finalizing its assessment, and as it continues to perform other implementation activities such as establishing new policies, procedures and controls, quantifying the adoption date adjustments and drafting disclosures. The Company is required to apply this new standard beginning January 1, 2018. Two methods of transition are permitted under this standard: the full retrospective method, in which the standard would be applied retrospectively to each prior reporting period presented, subject to certain allowable exceptions; or the modified retrospective method, in which the standard would be applied to all contracts existing as of the date of initial application, with the cumulative effect of applying the standard recognized in retained earnings (the adoption date adjustments). The Company anticipates adopting this standard using the modified retrospective method.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of the activity related to the allowance for doubtful accounts	A summary of the activity related to the allowance for doubtful accounts is as follows: September 30, 2017 December 31, 2016 (in thousands) Allowance for doubtful accounts, beginning of period $ 1,953 $ — Expense — 1,953 Reductions/write-offs — — Allowance for doubtful accounts, end of period $ 1,953 $ 1,953

Property, Plant And Equipment (

Property, Plant And Equipment (Tables)	9 Months Ended
	Sep. 30, 2017
Property Plant And Equipment [Abstract]
Schedule of Capitalized Costs of Unproved Properties Excluded from Amortization	The following table summarizes the components of unproved properties excluded from amortization at the dates indicated: September 30, 2017 December 31, 2016 (in thousands) Unproved properties, excluded from amortization: Drilling in progress costs $ 10,881 $ 1,100 Acreage acquisition costs 113,110 58,857 Capitalized interest 11,954 7,376 Total unproved properties excluded from amortization $ 135,945 $ 67,333
Schedule Of Relevant Assumptions Used In Ceiling Test Computations	The table below sets forth relevant pricing assumptions utilized in the quarterly ceiling test computations for the respective periods noted before adjustment for basis and quality differentials: 2017 Total Year to Date Impairment September 30 June 30 March 31 Henry Hub natural gas price (per MMBtu) (1) $ 3.00 $ 3.01 $ 2.73 WTI oil price (per Bbl) (1) $ 49.81 $ 48.95 $ 47.61 Impairment recorded (pre-tax) (in thousands) $ — $ — $ — $ — 2016 Total Year to Date Impairment September 30 June 30 March 31 Henry Hub natural gas price (per MMBtu) (1) $ 2.28 $ 2.24 $ 2.40 WTI oil price (per Bbl) (1) $ 41.68 $ 43.12 $ 46.26 Impairment recorded (pre-tax) (in thousands) $ 48,497 $ — $ — $ 48,497 (1) For the respective periods, oil and natural gas prices are calculated using the trailing 12-month unweighted arithmetic average of the first-day-of-the-month prices based on Henry Hub spot natural gas prices and WTI spot oil prices.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Summary of Reconciliation of Long-Term Debt Balance	The table below provides a reconciliation of the Company’s long-term debt balance as presented in the condensed consolidated balance sheets for the periods presented: September 30, 2017 December 31, 2016 (in thousands) Term Loan, principal balance (1) $ 250,000 $ — Less: Unamortized deferred financing costs (2) (4,909 ) — Unamortized debt discount (2) (22,958 ) — Term Loan, net $ 222,133 $ — Notes, principal balance $ 162,500 $ — Less: Unamortized deferred financing costs (2) (2,765 ) — Unamortized debt discount (2) (48,275 ) — Notes, net $ 111,460 $ — Revolving credit facility $ — $ 84,630 Former senior secured notes $ — $ 325,000 Less: Unamortized deferred financing costs — (795 ) Unamortized debt discount (4,342 ) Former senior secured notes, net $ — $ 319,863 Total long-term debt $ 333,593 $ 404,493 (1) Pursuant to Amendment No. 2 (as defined below), on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan (as defined below) to $256.6 million at such time. (2) The unamortized deferred financing costs and debt discount will be amortized over the remaining life of the Term Loan and Notes (as defined below), respectively, based on the effective interest method.
Summary of Carrying Amount of Equity Components of Notes Recorded in Additional Paid in Capital	The carrying amount of the equity components of the Notes recorded in additional paid in capital for the period indicated is as follows: September 30, 2017 (in thousands) Value of conversion option $ 77,626 Debt issuance costs attributable to conversion option $ (2,164 ) Total $ 75,462
Notes
Summary of Carrying Amount of Long-Term debt	The carrying amount of the liability component of the Notes for the period indicated is as follows: September 30, 2017 (in thousands) Notes, principal balance $ 162,500 Less: Unamortized deferred financing costs (1) (2,765 ) Unamortized debt discount (1) (48,275 ) Notes, net $ 111,460 (1) The unamortized deferred financing costs and debt discount will be amortized over the remaining life of the Notes based on the effective interest method.
Term Loan
Summary of Carrying Amount of Long-Term debt	A carrying amount of the Term Loan for the period indicated is as follows: September 30, 2017 (in thousands) Term Loan, principal balance (1) $ 250,000 Less: Unamortized deferred financing costs (2) (4,909 ) Unamortized debt discount (2) (22,958 ) Term loan, net $ 222,133 (1) Pursuant to Amendment No. 2, on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan to $256.6 million at such time. (2) The unamortized deferred financing costs and debt discount will be amortized over the remaining life of the Term Loan based on the effective interest method.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2017 and December 31, 2016: Fair value as of September 30, 2017 Level 1 Level 2 Level 3 Total (in thousands) Assets: Cash and cash equivalents $ 29,229 $ — $ — $ 29,229 Commodity derivative contracts — — 4,816 4,816 Liabilities: Commodity derivative contracts — — (455 ) (455 ) Total $ 29,229 $ — $ 4,361 $ 33,590 Fair value as of December 31, 2016 Level 1 Level 2 Level 3 Total (in thousands) Assets: Cash and cash equivalents $ 71,529 $ — $ — $ 71,529 Commodity derivative contracts — — 7,850 7,850 Liabilities: Commodity derivative contracts — — (338 ) (338 ) Total $ 71,529 $ — $ 7,512 $ 79,041
Fair Value Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation	The table below presents a reconciliation of the assets and liabilities classified as Level 3 in the fair value hierarchy for the three and nine months ended September 30, 2017 and 2016. Level 3 instruments presented in the table consist of net derivatives that, in management’s opinion, reflect the assumptions a marketplace participant would have used at September 30, 2017 and 2016. Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Balance at beginning of period $ 9,436 $ 12,782 $ 7,512 $ 24,418 Total (losses) gains included in earnings (2,896 ) (1,498 ) 3,782 (3,991 ) Purchases — — 470 565 Issuances — — — (165 ) Settlements (1) (2,179 ) (2,231 ) (7,403 ) (11,774 ) Balance at end of period $ 4,361 $ 9,053 $ 4,361 $ 9,053 The amount of total (losses) gains for the period included in earnings attributable to the change in mark to market of commodity derivatives contracts still held at September 30, 2017 and 2016 $ (4,672 ) $ (3,134 ) $ (1,898 ) $ (12,974 ) (1) Included in gain (loss) on commodity derivatives contracts on the condensed consolidated statements of operations.

Derivative Instruments and He24

Derivative Instruments and Hedging Activity (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative [Line Items]
Summary of Information Regarding Deferred Put Premium Liabilities	The following table provides information regarding the deferred put premium liabilities for the periods indicated: September 30, 2017 December 31, 2016 (in thousands) Current commodity derivative put premium payable $ 1,337 $ 1,654 Long-term commodity derivative put premium payable 34 969 Total unamortized put premium liabilities $ 1,371 $ 2,623 For the Three Months Ended September 30, 2017 For the Nine Months Ended September 30, 2017 (in thousands) Put premium liabilities, beginning balance $ 1,773 $ 2,623 Settlement of put premium liabilities (402 ) (1,722 ) Additional put premium liabilities — 470 Put premium liabilities, ending balance $ 1,371 $ 1,371
Summary of Amortization of Deferred Put Premium Liabilities	The following table provides information regarding the amortization of the deferred put premium liabilities by year as of September 30, 2017: Amortization (in thousands) October to December 2017 $ 402 January to December 2018 969 Total unamortized put premium liabilities $ 1,371
Summary of Information on the Location and Amounts of Derivative Fair Values and Derivative Gains and Losses	The tables below provide information on the location and amounts of derivative fair values in the condensed consolidated statement of financial position and derivative gains and losses in the condensed consolidated statement of operations for derivative instruments that are not designated as hedging instruments: Fair Values of Derivative Instruments Derivative Assets (Liabilities) Fair Value Balance Sheet Location September 30, 2017 December 31, 2016 (in thousands) Derivatives not designated as hedging instruments Commodity derivative contracts Current assets $ 4,400 $ 6,212 Commodity derivative contracts Other assets 416 1,638 Commodity derivative contracts Current liabilities (326 ) (338 ) Commodity derivative contracts Long-term liabilities (129 ) — Total derivatives not designated as hedging instruments $ 4,361 $ 7,512 Amount of Gain (Loss) Recognized in Income on Derivatives For the Three Months Ended September 30, Location of Loss Recognized in Income on Derivatives 2017 2016 (in thousands) Derivatives not designated as hedging instruments Commodity derivative contracts Loss on commodity derivatives contracts $ (2,896 ) $ (1,498 ) Total $ (2,896 ) $ (1,498 ) Amount of Gain (Loss) Recognized in Income on Derivatives For the Nine Months Ended September 30, Location of Gain (Loss) Recognized in Income on Derivatives 2017 2016 (in thousands) Derivatives not designated as hedging instruments Commodity derivative contracts Gain (loss) on commodity derivatives contracts $ 3,782 $ (3,991 ) Total $ 3,782 $ (3,991 )
Natural Gas
Derivative [Line Items]
Schedule of Notional Amounts and Weighted Average Underlying Hedge Prices of Outstanding Derivative Positions	As of September 30, 2017, the following natural gas derivative transactions were outstanding with the associated notional volumes and weighted average underlying hedge prices: Settlement Period Derivative Instrument Average Daily Volume Total of Notional Volume Base Fixed Price Floor (Long) Short Put Ceiling (Short) (in MMBtus) November to December 2017 Costless three-way collar 5,000 305,000 $ — $ 3.00 $ 2.35 $ 4.00 November to December 2017 Fixed price swap 2,600 158,600 $ 3.40 $ — $ — $ — November to December 2017 Costless Collar 2,600 158,600 $ — $ 3.00 $ — $ 3.89 January to December 2018 Costless three-way collar 5,000 1,825,000 $ — $ 3.00 $ 2.35 $ 4.00 January to March 2018 Costless Collar 5,800 522,000 $ — $ 3.00 $ — $ 4.28
Crude Oil
Derivative [Line Items]
Schedule of Notional Amounts and Weighted Average Underlying Hedge Prices of Outstanding Derivative Positions	As of September 30, 2017, the following crude derivative transactions were outstanding with the associated notional volumes and weighted average underlying hedge prices: Settlement Period Derivative Instrument Average Daily Volume (1) Total of Notional Volume Base Fixed Price Floor (Long) Short Put Ceiling (Short) (in Bbls) October to December 2017 Costless three-way collar 280 25,760 $ — $ 80.00 $ 65.00 $ 97.25 October 2017 Costless three-way collar 200 6,200 $ — $ 80.00 $ 60.00 $ 98.70 November 2017 Costless three-way collar 250 7,500 $ — $ 80.00 $ 60.00 $ 98.70 December 2017 Costless three-way collar 200 6,200 $ — $ 80.00 $ 60.00 $ 98.70 October to December 2017 Put spread 500 46,000 $ — $ 82.00 $ 62.00 $ — October to December 2017 Fixed price swap 400 36,800 $ 54.50 $ — $ — $ — October to December 2017 Fixed price swap 150 13,800 $ 53.80 $ — $ — $ — October to December 2017 Fixed price swap 150 13,800 $ 50.25 $ — $ — $ — October to December 2017 Fixed price swap 500 46,000 $ 50.00 $ — $ — $ — October to December 2017 Fixed price swap 500 46,000 $ 50.00 $ — $ — $ — October to December 2017 Fixed price swap 100 9,200 $ 50.60 $ — $ — $ — October to December 2017 Fixed price swap 100 9,200 $ 50.94 $ — $ — $ — October to December 2017 Fixed price swap 100 9,200 $ 50.50 $ — $ — $ — October to December 2017 Fixed price swap 100 9,200 $ 50.65 $ — $ — $ — October to December 2017 Fixed price swap 100 9,200 $ 50.35 $ — $ — $ — December 2017 Fixed price swap 350 10,850 $ 52.33 $ — $ — $ — October to December 2017 Costless collar 200 18,400 $ — $ 45.00 $ — $ 53.50 January to December 2018 Costless three-way collar 500 182,500 $ — $ 50.00 $ 40.00 $ 61.60 January to March 2018 Costless three-way collar 1,800 162,000 $ — $ 47.50 $ 37.50 $ 57.85 April to June 2018 Costless three-way collar 1,700 154,700 $ — $ 47.50 $ 37.50 $ 57.85 July to September 2018 Costless three-way collar 1,600 147,200 $ — $ 47.50 $ 37.50 $ 57.85 October to December 2018 Costless three-way collar 1,700 156,400 $ — $ 47.50 $ 37.50 $ 57.85 January to August 2018 Put spread 425 103,275 $ — $ 80.00 $ 60.00 $ — January to June 2018 Fixed price swap 600 108,600 $ 51.20 $ — $ — $ — January to June 2018 Fixed price swap 200 182,500 $ 50.11 $ — $ — $ — July to September 2018 Fixed price swap 500 46,000 $ 51.20 $ — $ — $ — October to December 2018 Fixed price swap 600 55,200 $ 51.20 $ — $ — $ — January to September 2019 Costless three-way collar 2,000 546,000 $ — $ 47.50 $ 37.50 $ 59.70 October to December 2019 Costless three-way collar 1,900 174,800 $ — $ 47.50 $ 37.50 $ 59.70 January to September 2019 Fixed price swap 700 191,100 $ 50.40 $ — $ — $ — October to December 2019 Fixed price swap 600 55,200 $ 50.40 $ — $ — $ — (1) Crude volumes hedged include oil, condensate and certain components of our NGLs production.

Capital Stock (Tables)

Capital Stock (Tables)	9 Months Ended
	Sep. 30, 2017
Stockholders Equity Note [Abstract]
Schedule of Issuances And Forfeitures Of Common Shares	The following table provides information regarding the issuances and forfeitures of common stock pursuant to the Company's long-term incentive plan for the periods indicated: For the Three Months Ended September 30, 2017 For the Nine Months Ended September 30, 2017 Other share issuances: Shares of restricted common stock granted 5,000,000 8,649,345 Shares of restricted common stock vested 24,338 1,193,263 Shares of restricted common stock surrendered upon vesting/exercise (1) 871 356,450 Shares of restricted common stock forfeited — 36,747 _________________ (1) Represents shares of common stock forfeited in connection with the payment of estimated withholding taxes on shares of restricted common stock that vested during the period.

Interest Expense (Tables)

Interest Expense (Tables)	9 Months Ended
	Sep. 30, 2017
Interest Expense [Abstract]
Schedule Of Components Of Interest Expense	The following table summarizes the components of interest expense for the periods indicated: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands) Interest expense: Cash and accrued $ 8,897 $ 8,158 $ 26,103 $ 25,275 Amortization of deferred financing costs and debt discount 3,291 986 8,218 3,812 Capitalized interest (2,029 ) (966 ) (4,577 ) (2,348 ) Total interest expense $ 10,159 $ 8,178 $ 29,744 $ 26,739

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 (in thousands, except per share and share data) Net loss attributable to common stockholders $ (15,917 ) $ (3,796 ) $ (44,631 ) $ (95,371 ) Weighted average common shares outstanding - basic 209,072,232 129,301,817 190,745,688 104,125,317 Incremental shares from unvested restricted shares — — — — Incremental shares from outstanding stock options — — — — Incremental shares from outstanding PBUs — — — — Weighted average common shares outstanding - diluted 209,072,232 129,301,817 190,745,688 104,125,317 Net loss per share of common stock attributable to common stockholders: Basic $ (0.08 ) $ (0.03 ) $ (0.23 ) $ (0.92 ) Diluted $ (0.08 ) $ (0.03 ) $ (0.23 ) $ (0.92 ) Common shares excluded from denominator as anti-dilutive: Unvested restricted shares 553,671 170,362 750,499 540,994 Unvested PBUs 1,654,841 1,041,493 713,911 837,199 Convertible notes 73,520,769 — 63,319,752 — Total 75,729,281 1,211,855 64,784,162 1,378,193

Statement of Cash Flows - Sup28

Statement of Cash Flows - Supplemental Information (Tables)	9 Months Ended
	Sep. 30, 2017
Supplemental Cash Flow Information [Abstract]
Statement of Cash Flows Supplemental Information	The following is a summary of the supplemental cash paid and non-cash transactions for the periods indicated: For the Nine Months Ended September 30, 2017 2016 (in thousands) Cash paid for interest, net of capitalized amounts $ 17,770 $ 16,140 Non-cash transactions: Capital expenditures included in accounts payable and accrued drilling costs $ 12,176 $ 4,913 Capital expenditures included in accounts receivable $ 76 $ 409 Asset retirement obligation included in oil and natural gas properties $ 403 $ 92 Asset retirement obligation sold $ (1,533 ) $ (694 ) Application of advances to operators $ 24 $ (378 ) Non-cash financing charges excluded from accounts payable and accrued liabilities $ 19 $ — Expenses accrued for issuance of common stock $ — $ 2 Undeclared cumulative dividends on preferred stock $ 2,412 $ 7,237 Conversion of convertible debt to equity $ 37,500 $ —

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Schedule of Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance for doubtful accounts, beginning of period	$ 1,953	$ 0
Expense	0	1,953
Reductions/write-offs	0	0
Allowance for doubtful accounts, end of period	$ 1,953	$ 1,953

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017USD ($)
Accounting Policies [Abstract]
Adjustment to retained earnings	$ 657,000
Adjustment to reduce forfeiture rate	0.00%

Property, Plant and Equipment31

Property, Plant and Equipment (Narrative) (Details)	Mar. 22, 2017USD ($)awell	Jan. 20, 2017USD ($)	Oct. 19, 2016USD ($)awell	Oct. 14, 2016awellTownshipTranche	Apr. 08, 2016USD ($)	Feb. 19, 2016USD ($)	Sep. 30, 2017USD ($)well	Sep. 30, 2016USD ($)
Property, Plant and Equipment [Line Items]
Fair market value, discounted present rate							10.00%
Proceeds from sale of natural gas and oil properties | $							$ 28,798,000	$ 77,499,000
Appalachian Basin
Property, Plant and Equipment [Line Items]
Proceeds from sale of natural gas and oil properties | $					$ 75,700,000	$ 80,000,000
Suspense liability transferred to buyer | $					$ 3,500,000
Gain or loss of assets | $						$ 0
Development Agreement
Property, Plant and Equipment [Line Items]
Number of wells completed							20
Number of wells completed, net							15.8
Development Agreement | Parent Company
Property, Plant and Equipment [Line Items]
Number of wells completed, net							3.2
Development Agreement | Investor
Property, Plant and Equipment [Line Items]
Fair market value, discounted present rate							15.00%
STACK Leasehold Acquisition
Property, Plant and Equipment [Line Items]
Gross wells	66
Net wells	9.5
Net acres | a	5,670
Acquisition of oil and natural gas properties | $	$ 51,400,000
West Virginia
Property, Plant and Equipment [Line Items]
Consideration on sale of property | $		$ 200,000
Oklahoma | Red Bluff | Canadian County Property
Property, Plant and Equipment [Line Items]
Consideration on sale of property | $			$ 71,000,000
Net acres to be sold | a			25,300
Net acres allocated | a			19,100
Gross wells to be sold			25
Net wells to be sold			11.2
Contingent consideration on sale of property | $			$ 10,000,000
Consideration on sale of property received | $							$ 69,500,000
Oklahoma | Development Agreement
Property, Plant and Equipment [Line Items]
Investor funding percentage on working interest portion of drilling and completion cost				90.00%
Investors percentage of Gastar's working interest in each new well				80.00%
Percentage of costs paid to obtain 20% working interest				10.00%
Percentage on working interest in each new well				20.00%
Number of tranches | Tranche				3
Number of wells in each tranche				20
Number of wells in Meramec formation				18
Number of wells in Osage formation				2
Percentage of internal rate of return one				15.00%
Percentage of working interest on achievement of 15% internal rate of return				60.00%
Percentage of internal rate of return two				20.00%
Percentage of working interest on achievement of 20% internal rate of return				90.00%
Description of working interest on achievement of internal rate of returns							With respect to each 20-well tranche, when the Investor has achieved an aggregate 15% internal rate of return for its investment in the tranche, Investor’s interest will be reduced from 80% to 40% of the Company’s original working interest and the Company’s working interest increases from 20% to 60% of its original working interest. When a tranche internal rate of return of 20% is achieved by the Investor, Investor’s working interest decreases to 10% and the Company’s working interest increases to 90% of the working interest originally owned by the Company.
Oklahoma | Development Agreement | Investor
Property, Plant and Equipment [Line Items]
Net acres | a				21,200
Number of townships covered | Township				3
Gross acres | a				32,900
Percentage of working interest on achievement of 15% internal rate of return				40.00%
Percentage of working interest on achievement of 20% internal rate of return				10.00%
Oklahoma | Development Agreement | Investor | Maximum
Property, Plant and Equipment [Line Items]
Number of operated wells				60

Property, Plant and Equipment32

Property, Plant and Equipment (Schedule of Capitalized Costs of Unproved Properties Excluded from Amortization) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Unproved properties, excluded from amortization:
Drilling in progress costs	$ 10,881	$ 1,100
Acreage acquisition costs	113,110	58,857
Capitalized interest	11,954	7,376
Total unproved properties excluded from amortization	$ 135,945	$ 67,333

Property, Plant and Equipment33

Property, Plant and Equipment (Average Sales Price and Production Costs Per Unit of Production) (Details) $ in Thousands		3 Months Ended						9 Months Ended
		Sep. 30, 2017USD ($)$ / MMBTU$ / bbl	Jun. 30, 2017USD ($)$ / MMBTU$ / bbl	Mar. 31, 2017USD ($)$ / MMBTU$ / bbl	Sep. 30, 2016USD ($)$ / MMBTU$ / bbl	Jun. 30, 2016USD ($)$ / MMBTU$ / bbl	Mar. 31, 2016USD ($)$ / MMBTU$ / bbl	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Average Sales Price and Production Costs Per Unit of Production [Line Items]
Impairment recorded (pre-tax) (in thousands) | $		$ 0	$ 0	$ 0	$ 0	$ 0	$ 48,497	$ 0	$ 48,497
Natural Gas Per Thousand Cubic Feet
Average Sales Price and Production Costs Per Unit of Production [Line Items]
Average price per Mcfe | $ / MMBTU	[1]	3	3.01	2.73	2.28	2.24	2.40
Crude Oil And N G L Per Barrel
Average Sales Price and Production Costs Per Unit of Production [Line Items]
Average price per Mcfe | $ / bbl	[1]	49.81	48.95	47.61	41.68	43.12	46.26
[1]	For the respective periods, oil and natural gas prices are calculated using the trailing 12-month unweighted arithmetic average of the first-day-of-the-month prices based on Henry Hub spot natural gas prices and WTI spot oil prices.

Long-Term Debt - Reconciliation

Long-Term Debt - Reconciliation of Long-Term Debt Balance (Details) - USD ($)		Sep. 30, 2017		Mar. 03, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Total long-term debt		$ 333,593,000			$ 404,493,000
Notes
Line of Credit Facility [Line Items]
Principal balance		162,500,000
Unamortized deferred financing costs		(2,765,000)	[1]	$ (5,400,000)
Unamortized debt discount		(48,275,000)	[1]	(52,400,000)
Long term loan, net		111,460,000
Former Senior Secured Notes
Line of Credit Facility [Line Items]
Principal balance					325,000,000
Unamortized deferred financing costs					(795,000)
Unamortized debt discount					(4,342,000)
Long term loan, net					319,863,000
Term Loan
Line of Credit Facility [Line Items]
Principal balance	[2],[3]	250,000,000
Unamortized deferred financing costs		(4,909,000)	[1]	(5,500,000)
Unamortized debt discount		(22,958,000)	[1]	$ (25,200,000)
Long term loan, net		$ 222,133,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility					$ 84,630,000
[1]	The unamortized deferred financing costs and debt discount will be amortized over the remaining life of the Term Loan and Notes (as defined below), respectively, based on the effective interest method.
[2]	Pursuant to Amendment No. 2 (as defined below), on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan (as defined below) to $256.6 million at such time.
[3]	Pursuant to Amendment No. 2, on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan to $256.6 million at such time.

Long-Term Debt - Reconciliati35

Long-Term Debt - Reconciliation of Long-Term Debt Balance (Parenthetical) (Details) - Term Loan - USD ($) $ in Thousands		3 Months Ended
		Oct. 01, 2017	Oct. 02, 2017	Sep. 30, 2017
Line of Credit Facility [Line Items]
Principal balance	[1],[2]			$ 250,000
Amendment No. 2 | Subsequent Event
Line of Credit Facility [Line Items]
Percentage of interest pay in kind		100.00%
Kind interest due, amount		$ 6,600
Principal balance			$ 256,600
[1]	Pursuant to Amendment No. 2 (as defined below), on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan (as defined below) to $256.6 million at such time.
[2]	Pursuant to Amendment No. 2, on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan to $256.6 million at such time.

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)

Aug. 02, 2017

May 02, 2017

Mar. 03, 2017

Sep. 30, 2017

Sep. 30, 2016

Dec. 31, 2016

Jun. 30, 2017

May 05, 2017

May 04, 2017

Apr. 30, 2017

Mar. 21, 2017

Feb. 15, 2017

Jan. 10, 2017

Line of Credit Facility [Line Items]

Common stock, par value

$ 0.001

$ 0.001

Proceeds from issuance of common stock, net of issuance costs

$ 56,366,000

$ 44,815,000

Preferred stock, par value

$ 0.01

$ 0.01

Common stock volume weighted average trading price per share

$ 1.7002

Revolving Credit Facility

Line of Credit Facility [Line Items]

Repayment of debt

$ 69,200,000

First Lien Secured Term Loan

Line of Credit Facility [Line Items]

Aggregate principal amount

[1],[2]

$ 250,000,000

Term loan amount

$ 222,133,000

Interest rate

8.50%

Frequency of interest payment

quarterly

Debt instrument maturity date

Mar. 3, 2022

Debt instrument fair value

$ 224,800,000

Debt discount

25,200,000

$ 22,958,000

[3]

Debt issuance costs

$ 5,500,000

4,909,000

[3]

Debt instrument effective interest rate percentage

13.00%

Ares Management, LLC | Securities Purchase Agreement

Line of Credit Facility [Line Items]

Aggregate principal amount

$ 75,000,000

Interest rate

8.625%

Debt instrument redemption price percentage

102.156%

Redemption date

Mar. 24, 2017

Aggregate principal amount, exchanged

$ 37,500,000

Repurchase share, issued

$ 1.4731

Aggregate principle amount of issued and outstanding notes

$ 162,500,000

$ 200,000,000

Common stock volume weighted average trading price per share

$ 1.7002

Ares Management, LLC | Securities Purchase Agreement | Common Stock

Line of Credit Facility [Line Items]

Common stock, par value

$ 0.001

Issuance of common shares - cash, net of offering costs (shares)

25,456,521

29,408,305

Proceeds from issuance of common stock, net of issuance costs

$ 50,000,000

Ares Management, LLC | Securities Purchase Agreement | Special Voting Preferred Stock

Line of Credit Facility [Line Items]

Issuance of common shares - cash, net of offering costs (shares)

2,000

Preferred stock, par value

$ 0.01

Ares Management, LLC | Securities Purchase Agreement | First Lien Secured Term Loan

Line of Credit Facility [Line Items]

Term loan amount

$ 250,000,000

Convertible Notes due 2022

Line of Credit Facility [Line Items]

Aggregate principal amount

162,500,000

Term loan amount

$ 111,460,000

Interest rate

6.00%

Debt instrument maturity date

Mar. 1, 2022

Debt instrument fair value

$ 147,800,000

Debt discount

52,400,000

$ 48,275,000

[3]

Debt issuance costs

5,400,000

$ 2,765,000

[3]

Debt instrument, default, description

The Indenture provides that a number of events will constitute an Event of Default (as defined in the Indenture), including, among other things: (i) a failure to pay the Notes when due at maturity, upon redemption or repurchase; (ii) failure to pay interest for 30 days; (iii) the Company’s failure to deliver certain notices; (iv) a default in the Company’s obligation to convert the Notes; (v) the Company’s failure to comply with certain covenants relating to merger, consolidation or sale of assets; (vi) the Company’s failure to comply, for 60 days following notice, with any of the other covenants or agreements in the Indenture; (vii) a default, which is not cured within 30 days, by the Company or any Restricted Subsidiaries (as defined in the Indenture) with respect to any mortgages or any indebtedness for money borrowed of at least $15 million; (viii) one or more final judgments against the Company or any of its Restricted Subsidiaries for the payment of at least $15 million; (ix) the Company’s failure to make any payments required under that certain development agreement; (x) causing any Guarantee (as defined in the Indenture) to cease to be in full force and effect; (xi) the cessation to be in full force and effect of any of the collateral agreements entered into with respect to the Notes; and (xii) certain events of bankruptcy or insolvency.

Debt instrument, debt default, amount

$ 15,000,000

Aggregate principal amount of the then outstanding notes, percentage

25.00%

Value of conversion option

$ 77,600,000

$ 77,626,000

Debt issuance costs related to liability component notes

3,200,000

Debt issuance costs related to equity component notes

$ 2,200,000

$ 2,164,000

Amortization of debt issuance costs percentage

15.00%

Convertible Notes due 2022 | Ares Management, LLC | Securities Purchase Agreement

Line of Credit Facility [Line Items]

Aggregate principal amount

$ 125,000,000

Senior Secured Notes Due 2018

Line of Credit Facility [Line Items]

Aggregate principal amount

$ 325,000,000

Term loan amount

$ 319,863,000

Interest rate

8.625%

Debt instrument redemption price percentage

102.156%

Redemption date

Mar. 24, 2017

Debt instrument maturity date

May 15, 2018

Debt discount

$ 4,342,000

Debt issuance costs

$ 795,000

Debt instrument interest rate description

The Notes bore interest at a rate of 8.625% per year, payable semi-annually in arrears on May 15 and November 15 of each year.

Additional amount paid on redemption over principle

$ 7,000,000

Wrote-off of remaining unamortized deferred financing costs

5,200,000

Senior Secured Notes Due 2018 | Ares Management, LLC

Line of Credit Facility [Line Items]

Aggregate principal amount

$ 325,000,000

Senior Secured Notes Due 2018 | Ares Management, LLC | Securities Purchase Agreement

Line of Credit Facility [Line Items]

Repayment of debt

$ 325,000,000

Amendment No. 2 | First Lien Secured Term Loan

Line of Credit Facility [Line Items]

Interest rate

10.25%

8.50%

Debt instrument, payment terms

Amendment No. 2 amended the Term Loan, to among other things, (i) allow for the payment of pay in kind (“PIK”) interest on the Term Loan at the applicable PIK percentage and (ii) increased the applicable rate for periods ending after June 30, 2017 from 8.5% per annum to 10.25% per annum. Amendment No. 2 allows the Company to elect to PIK upon proper notice 100% of interest payments due after June 30, 2017 and prior to December 31, 2018 and at the Company’s election, PIK between 0% and 50% of any interest payments occurring after December 31, 2018 (other than interest due on the maturity date or the date of any repayment or prepayment).

Amendment No. 2 | First Lien Secured Term Loan | June 30, 2017 to December 31, 2018

Line of Credit Facility [Line Items]

Percentage of interest pay in kind

100.00%

Amendment No. 2 | First Lien Secured Term Loan | Minimum | After December 31, 2018

Line of Credit Facility [Line Items]

Percentage of interest pay in kind

0.00%

Amendment No. 2 | First Lien Secured Term Loan | Maximum | After December 31, 2018

Line of Credit Facility [Line Items]

Percentage of interest pay in kind

50.00%

Second Amended and Restated Revolving Credit Facility

Line of Credit Facility [Line Items]

Revolving credit facility scheduled maturity date

Nov. 14, 2017

Amendment No. 10

Line of Credit Facility [Line Items]

Preferred dividends payment, minimum required cash liquidity

$ 30,000,000

Agreed additional indebtedness to pay down

$ 8,100,000

[1]

Pursuant to Amendment No. 2 (as defined below), on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan (as defined below) to $256.6 million at such time.

[2]

Pursuant to Amendment No. 2, on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan to $256.6 million at such time.

[3]

The unamortized deferred financing costs and debt discount will be amortized over the remaining life of the Term Loan and Notes (as defined below), respectively, based on the effective interest method.

Long-Term Debt - Summary of Car

Long-Term Debt - Summary of Carrying Amount of Term Loan (Details) - Term Loan - USD ($) $ in Thousands		Sep. 30, 2017		Mar. 03, 2017
Line of Credit Facility [Line Items]
Principal balance	[1],[2]	$ 250,000
Unamortized deferred financing costs		(4,909)	[3]	$ (5,500)
Unamortized debt discount		(22,958)	[3]	$ (25,200)
Long term loan, net		$ 222,133
[1]	Pursuant to Amendment No. 2 (as defined below), on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan (as defined below) to $256.6 million at such time.
[2]	Pursuant to Amendment No. 2, on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan to $256.6 million at such time.
[3]	The unamortized deferred financing costs and debt discount will be amortized over the remaining life of the Term Loan and Notes (as defined below), respectively, based on the effective interest method.

Long-Term Debt - Summary of C38

Long-Term Debt - Summary of Carrying Amount of Term Loan (Parenthetical) (Details) - Term Loan - USD ($) $ in Thousands		3 Months Ended
		Oct. 01, 2017	Oct. 02, 2017	Sep. 30, 2017
Line of Credit Facility [Line Items]
Principal balance	[1],[2]			$ 250,000
Amendment No. 2 | Subsequent Event
Line of Credit Facility [Line Items]
Percentage of interest pay in kind		100.00%
Kind interest due, amount		$ 6,600
Principal balance			$ 256,600
[1]	Pursuant to Amendment No. 2 (as defined below), on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan (as defined below) to $256.6 million at such time.
[2]	Pursuant to Amendment No. 2, on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan to $256.6 million at such time.

Long-Term Debt - Summary of C39

Long-Term Debt - Summary of Carrying Amount of Liability Component of Notes (Details) - Notes - USD ($) $ in Thousands	Sep. 30, 2017		Mar. 03, 2017
Line of Credit Facility [Line Items]
Principal balance	$ 162,500
Unamortized deferred financing costs	(2,765)	[1]	$ (5,400)
Unamortized debt discount	(48,275)	[1]	$ (52,400)
Long term loan, net	$ 111,460
[1]	The unamortized deferred financing costs and debt discount will be amortized over the remaining life of the Term Loan and Notes (as defined below), respectively, based on the effective interest method.

Long-Term Debt - Summary of C40

Long-Term Debt - Summary of Carrying Amount of Equity Components of Notes Recorded in Additional Paid in Capital (Details) - Notes - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 03, 2017
Line of Credit Facility [Line Items]
Value of conversion option	$ 77,626	$ 77,600
Debt issuance costs attributable to conversion option	(2,164)	$ (2,200)
Fair value of conversion option, net	$ 75,462

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurements, Recurring and Nonrecurring) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets:
Cash and cash equivalents	$ 29,229	$ 71,529
Assets, Commodity derivative contracts	4,816	7,850
Liabilities:
Liabilities, Commodity derivative contracts	(455)	(338)
Total	33,590	79,041
Level 1
Assets:
Cash and cash equivalents	29,229	71,529
Liabilities:
Total	29,229	71,529
Level 3
Assets:
Assets, Commodity derivative contracts	4,816	7,850
Liabilities:
Liabilities, Commodity derivative contracts	(455)	(338)
Total	$ 4,361	$ 7,512

Fair Value Measurements (Net Ch

Fair Value Measurements (Net Change in Assets and Liabilities Measured at Fair Value on a Recurring Basis and Included in the Level 3 Fair Value Category) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
The amount of total (losses) gains for the period included in earnings attributable to the change in mark to market of commodity derivatives contracts still held at September 30, 2017 and 2016		$ (4,700)	$ (3,100)	$ (1,900)	$ (13,000)
Fair Value, Measurements, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period		9,436	12,782	7,512	24,418
Total (losses) gains included in earnings		(2,896)	(1,498)	3,782	(3,991)
Purchases		0	0	470	565
Issuances		0	0	0	(165)
Settlements	[1]	(2,179)	(2,231)	(7,403)	(11,774)
Balance at end of period		4,361	9,053	4,361	9,053
The amount of total (losses) gains for the period included in earnings attributable to the change in mark to market of commodity derivatives contracts still held at September 30, 2017 and 2016		$ (4,672)	$ (3,134)	$ (1,898)	$ (12,974)
[1]	Included in gain (loss) on commodity derivatives contracts on the condensed consolidated statements of operations.

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - Level 2 $ in Millions	Sep. 30, 2017USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of notes excluding conversion feature	$ 132.7
Fair value of term loan	$ 214.9

Derivative Instruments and He44

Derivative Instruments and Hedging Activity (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Change in fair value of commodity derivative contracts	$ (4.7)	$ (3.1)	$ (1.9)	$ (13)

Derivative Instruments and He45

Derivative Instruments and Hedging Activity (Schedule of Notional Amounts and Weighted Average Underlying Hedge Prices of Outstanding Derivative Positions) (Details)	9 Months Ended
	Sep. 30, 2017MMBTU$ / MMBTU$ / bblbbl
Costless Three-Way Collar - January to December 2018 | Natural Gas
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl) | MMBTU	5,000
Total of Notional Volume (MMBtu) | MMBTU	1,825,000
Costless Three-Way Collar - January to December 2018 | Long | Natural Gas
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / MMBTU	3
Costless Three-Way Collar - January to December 2018 | Short | Natural Gas
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / MMBTU	2.35
Ceiling (Short) (Price per MMBtu or Bbl) | $ / MMBTU	4
Costless Three-Way Collar - November to December 2017 | Natural Gas
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl) | MMBTU	5,000
Total of Notional Volume (MMBtu) | MMBTU	305,000
Costless Three-Way Collar - November to December 2017 | Long | Natural Gas
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / MMBTU	3
Costless Three-Way Collar - November to December 2017 | Short | Natural Gas
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / MMBTU	2.35
Ceiling (Short) (Price per MMBtu or Bbl) | $ / MMBTU	4
Fixed Price Swap - November to December 2017 | Natural Gas
Derivative [Line Items]
Base Fixed Price (Price per MMBtu or Bbl) | $ / MMBTU	3.40
Average Daily Volume (MMBtu or Bbl) | MMBTU	2,600
Total of Notional Volume (MMBtu) | MMBTU	158,600
Costless Collar - November to December 2017 | Natural Gas
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl) | MMBTU	2,600
Total of Notional Volume (MMBtu) | MMBTU	158,600
Costless Collar - November to December 2017 | Long | Natural Gas
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / MMBTU	3
Costless Collar - November to December 2017 | Short | Natural Gas
Derivative [Line Items]
Ceiling (Short) (Price per MMBtu or Bbl) | $ / MMBTU	3.89
Costless Collar - January to March 2018 | Natural Gas
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl) | MMBTU	5,800
Total of Notional Volume (MMBtu) | MMBTU	522,000
Costless Collar - January to March 2018 | Long | Natural Gas
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / MMBTU	3
Costless Collar - January to March 2018 | Short | Natural Gas
Derivative [Line Items]
Ceiling (Short) (Price per MMBtu or Bbl) | $ / MMBTU	4.28
Crude Oil | Costless Three-Way Collar - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	280	[1]
Total of Notional Volume (Bbl)	25,760
Crude Oil | Costless Three-Way Collar - October to December 2017 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	80
Crude Oil | Costless Three-Way Collar - October to December 2017 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	65
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	97.25
Crude Oil | Costless Three-way Collar - October 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	200	[1]
Total of Notional Volume (Bbl)	6,200
Crude Oil | Costless Three-way Collar - October 2017 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	80
Crude Oil | Costless Three-way Collar - October 2017 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	60
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	98.70
Crude Oil | Costless Three-way Collar - November 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	250	[1]
Total of Notional Volume (Bbl)	7,500
Crude Oil | Costless Three-way Collar - November 2017 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	80
Crude Oil | Costless Three-way Collar - November 2017 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	60
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	98.70
Crude Oil | Costless Three-way Collar - December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	200	[1]
Total of Notional Volume (Bbl)	6,200
Crude Oil | Costless Three-way Collar - December 2017 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	80
Crude Oil | Costless Three-way Collar - December 2017 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	60
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	98.70
Crude Oil | Put Spread - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	500	[1]
Total of Notional Volume (Bbl)	46,000
Crude Oil | Put Spread - October to December 2017 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	82
Crude Oil | Put Spread - October to December 2017 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	62
Crude Oil | Fixed Price Swap One - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	400	[1]
Total of Notional Volume (Bbl)	36,800
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	54.50
Crude Oil | Fixed Price Swap Two - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	150	[1]
Total of Notional Volume (Bbl)	13,800
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	53.80
Crude Oil | Fixed Price Swap Three - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	150	[1]
Total of Notional Volume (Bbl)	13,800
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	50.25
Crude Oil | Fixed Price Swap Four - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	500	[1]
Total of Notional Volume (Bbl)	46,000
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	50
Crude Oil | Fixed Price Swap Five - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	500	[1]
Total of Notional Volume (Bbl)	46,000
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	50
Crude Oil | Fixed Price Swap Six - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	100	[1]
Total of Notional Volume (Bbl)	9,200
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	50.60
Crude Oil | Fixed Price Swap Seven - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	100	[1]
Total of Notional Volume (Bbl)	9,200
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	50.94
Crude Oil | Fixed Price Swap Eight - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	100	[1]
Total of Notional Volume (Bbl)	9,200
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	50.50
Crude Oil | Fixed Price Swap Nine - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	100	[1]
Total of Notional Volume (Bbl)	9,200
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	50.65
Crude Oil | Fixed Price Swap Ten - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	100	[1]
Total of Notional Volume (Bbl)	9,200
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	50.35
Crude Oil | Fixed Price Swap - December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	350	[1]
Total of Notional Volume (Bbl)	10,850
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	52.33
Crude Oil | Costless Collar - October to December 2017
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	200	[1]
Total of Notional Volume (Bbl)	18,400
Crude Oil | Costless Collar - October to December 2017 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	45
Crude Oil | Costless Collar - October to December 2017 | Short
Derivative [Line Items]
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	53.50
Crude Oil | Costless Three-Way Collar - January to December 2018
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	500	[1]
Total of Notional Volume (Bbl)	182,500
Crude Oil | Costless Three-Way Collar - January to December 2018 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	50
Crude Oil | Costless Three-Way Collar - January to December 2018 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	40
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	61.60
Crude Oil | Costless Three-Way Collar - January to March 2018
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	1,800	[1]
Total of Notional Volume (Bbl)	162,000
Crude Oil | Costless Three-Way Collar - January to March 2018 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	47.50
Crude Oil | Costless Three-Way Collar - January to March 2018 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	37.50
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	57.85
Crude Oil | Costless Three-Way Collar - April to June 2018
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	1,700	[1]
Total of Notional Volume (Bbl)	154,700
Crude Oil | Costless Three-Way Collar - April to June 2018 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	47.50
Crude Oil | Costless Three-Way Collar - April to June 2018 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	37.50
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	57.85
Crude Oil | Costless Three-Way Collar - July to September 2018
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	1,600	[1]
Total of Notional Volume (Bbl)	147,200
Crude Oil | Costless Three-Way Collar - July to September 2018 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	47.50
Crude Oil | Costless Three-Way Collar - July to September 2018 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	37.50
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	57.85
Crude Oil | Costless Three-Way Collar - October to December 2018
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	1,700	[1]
Total of Notional Volume (Bbl)	156,400
Crude Oil | Costless Three-Way Collar - October to December 2018 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	47.50
Crude Oil | Costless Three-Way Collar - October to December 2018 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	37.50
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	57.85
Crude Oil | Put Spread - January to August 2018
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	425	[1]
Total of Notional Volume (Bbl)	103,275
Crude Oil | Put Spread - January to August 2018 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	80
Crude Oil | Put Spread - January to August 2018 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	60
Crude Oil | Fixed Price Swap - January to June 2018
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	600	[1]
Total of Notional Volume (Bbl)	108,600
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	51.20
Crude Oil | Fixed Price Swap One - January to June 2018
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	200	[1]
Total of Notional Volume (Bbl)	182,500
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	50.11
Crude Oil | Fixed Price Swap - July to September 2018
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	500	[1]
Total of Notional Volume (Bbl)	46,000
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	51.20
Crude Oil | Fixed Price Swap - October to December 2018
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	600	[1]
Total of Notional Volume (Bbl)	55,200
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	51.20
Crude Oil | Costless Three-Way Collar - January to September 2019
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	2,000	[1]
Total of Notional Volume (Bbl)	546,000
Crude Oil | Costless Three-Way Collar - January to September 2019 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	47.50
Crude Oil | Costless Three-Way Collar - January to September 2019 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	37.50
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	59.70
Crude Oil | Costless Three-Way Collar - October to December 2019
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	1,900	[1]
Total of Notional Volume (Bbl)	174,800
Crude Oil | Costless Three-Way Collar - October to December 2019 | Long
Derivative [Line Items]
Floor (Long) (Price per MMBtu or Bbl) | $ / bbl	47.50
Crude Oil | Costless Three-Way Collar - October to December 2019 | Short
Derivative [Line Items]
Put (Short) (Price per MMBtu or Bbl) | $ / bbl	37.50
Ceiling (Short) (Price per MMBtu or Bbl) | $ / bbl	59.70
Crude Oil | Fixed Price Swap - January to September 2019
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	700	[1]
Total of Notional Volume (Bbl)	191,100
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	50.40
Crude Oil | Fixed Price Swap - October to December 2019
Derivative [Line Items]
Average Daily Volume (MMBtu or Bbl)	600	[1]
Total of Notional Volume (Bbl)	55,200
Base Fixed Price (Price per MMBtu or Bbl) | $ / bbl	50.40
[1]	Crude volumes hedged include oil, condensate and certain components of our NGLs production.

Derivative Instruments and He46

Derivative Instruments and Hedging Activity (Summary of Information Regarding Deferred Put Premium Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Current commodity derivative put premium payable			$ 1,337	$ 1,654
Long-term commodity derivative put premium payable			34	969
Total unamortized put premium liabilities	$ 1,371	$ 1,371	$ 1,371	$ 2,623
Put Premium Liabilities [Roll Forward]
Put premium liabilities, beginning balance	1,773	2,623
Settlement of put premium liabilities	(402)	(1,722)
Additional put premium liabilities		470
Put premium liabilities, ending balance	$ 1,371	$ 1,371

Derivative Instruments and He47

Derivative Instruments and Hedging Activity (Summary of Amortization of Deferred Put Premium Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
October to December 2017	$ 402
January to December 2018	969
Total unamortized put premium liabilities	$ 1,371	$ 1,773	$ 2,623

Derivative Instruments and He48

Derivative Instruments and Hedging Activity (Summary of Information on the Location and Amounts of Derivative Fair Values and Derivative Gains and Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Gain (loss) on commodity derivatives contracts	$ (2,896)	$ (1,498)	$ 3,782	$ (3,991)
Commodity Contract
Derivatives, Fair Value [Line Items]
Gain (loss) on commodity derivatives contracts	(2,896)	(1,498)	3,782	(3,991)
Commodity Contract | Gain (loss) on commodity derivatives contracts
Derivatives, Fair Value [Line Items]
Gain (loss) on commodity derivatives contracts	(2,896)	$ (1,498)	3,782	$ (3,991)
Commodity Contract | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Total derivatives not designated as hedging instruments	4,361		4,361		$ 7,512
Commodity Contract | Derivatives not designated as hedging instruments | Current assets
Derivatives, Fair Value [Line Items]
Commodity derivative contracts, Assets	4,400		4,400		6,212
Commodity Contract | Derivatives not designated as hedging instruments | Other assets
Derivatives, Fair Value [Line Items]
Commodity derivative contracts, Assets	416		416		1,638
Commodity Contract | Derivatives not designated as hedging instruments | Current liabilities
Derivatives, Fair Value [Line Items]
Commodity derivative contracts, Liabilities	(326)		(326)		$ (338)
Commodity Contract | Derivatives not designated as hedging instruments | Long-term liabilities
Derivatives, Fair Value [Line Items]
Commodity derivative contracts, Liabilities	$ (129)		$ (129)

Capital Stock (Narrative) (Deta

Capital Stock (Narrative) (Details)	May 02, 2017USD ($)shares	Mar. 03, 2017USD ($)$ / sharesshares	Feb. 15, 2017$ / shares	Jan. 27, 2017Right$ / shares	Mar. 09, 2016	Jan. 18, 2016Right$ / shares	Jan. 31, 2017shares	Apr. 30, 2016USD ($)	Feb. 20, 2017USD ($)shares	Sep. 30, 2017USD ($)$ / sharesshares	Sep. 30, 2016USD ($)	Jun. 30, 2017	Sep. 30, 2017USD ($)$ / sharesshares	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)$ / sharesshares	Jul. 24, 2017shares	May 04, 2017USD ($)shares	Mar. 22, 2017$ / sharesshares	Mar. 21, 2017USD ($)	May 07, 2015USD ($)
Class Of Stock [Line Items]
Aggregate offering price | $																				$ 50,000,000
Proceeds from issuance of common stock, net of issuance costs | $													$ 56,366,000	$ 44,815,000
Volume-weighted average trading price of the common shares | $ / shares		$ 1.7002
Common stock, shares authorized										800,000,000			800,000,000		550,000,000	800,000,000
Preferred stock, shares authorized										40,000,000			40,000,000		40,000,000
Preferred stock, par value | $ / shares										$ 0.01			$ 0.01		$ 0.01
Cash dividends on preferred stock | $													$ 19,298,000	3,618,000
Undeclared cumulative dividends on preferred stock | $										$ 2,412,000	$ 3,618,000		$ 2,412,000	7,237,000
Preferred stock dividends payment conditions applied commencement period					2016-04
Performance based rights voting rights													no
Common shares reserved for the exercise of stock options										164,400			164,400
2006 Long-Term Stock Incentive Plan
Class Of Stock [Line Items]
Shares reserved for issuance under LTIP	14,000,000
Shares available for future issuance (no more than) (shares)										6,565,088			6,565,088
2006 Long-Term Stock Incentive Plan | Restricted Stock Units | Chief Executive Officer
Class Of Stock [Line Items]
Stock units, granted							372,741
2006 Long-Term Stock Incentive Plan | Restricted Stock Units | Chief Financial Officer
Class Of Stock [Line Items]
Stock units, granted							171,310
2006 Long-Term Stock Incentive Plan | Performance Based Rights Units | Chief Executive Officer
Class Of Stock [Line Items]
Stock units, granted							372,741
2006 Long-Term Stock Incentive Plan | Performance Based Rights Units | Chief Financial Officer
Class Of Stock [Line Items]
Stock units, granted							171,310
Minimum | 2006 Long-Term Stock Incentive Plan
Class Of Stock [Line Items]
Percentage settlement of targeted number of common stock										0.00%			0.00%
Maximum | 2006 Long-Term Stock Incentive Plan
Class Of Stock [Line Items]
Percentage settlement of targeted number of common stock										200.00%			200.00%
Series C Preferred Stock
Class Of Stock [Line Items]
Preferred stock, shares authorized										550,000			550,000
Redemption price | $ / shares																		$ 0.01
Preferred stock, shares issued										0			0
Series A Preferred Stock
Class Of Stock [Line Items]
Preferred stock, shares authorized										10,000,000			10,000,000
Preferred stock, dividend rate, percentage (percentage)													8.625%
Preferred stock, par value | $ / shares										$ 0.01			$ 0.01
Redemption price | $ / shares										$ 25			$ 25
Preferred stock, shares issued										4,045,000			4,045,000
Preferred stock, shares outstanding										4,045,000			4,045,000
Fixed rate preferred dividend increases percentage if suspension more than one year													2.00%
Cash dividends on preferred stock | $										$ 727,000			$ 5,100,000	2,200,000
Undeclared cumulative dividends on preferred stock | $										$ 1,500,000	2,200,000		$ 1,500,000	4,400,000
Series B Preferred Stock
Class Of Stock [Line Items]
Preferred stock, shares authorized										10,000,000			10,000,000
Preferred stock, dividend rate, percentage (percentage)													10.75%
Preferred stock, par value | $ / shares										$ 0.01			$ 0.01
Redemption price | $ / shares										$ 25			$ 25
Preferred stock, shares issued										2,140,000			2,140,000
Preferred stock, shares outstanding										2,140,000			2,140,000
Dividends payable | $										$ 4,800,000			$ 4,800,000
Fixed rate preferred dividend increases percentage if suspension more than one year													2.00%
Undeclared cumulative dividends on preferred stock | $										$ 959,000	$ 1,400,000		$ 959,000	2,900,000
Preferred stock redemption price per share | $ / shares										$ 25			$ 25
Period after change in control to redeem preferred stock													90 days
Option to convert shares of Series B Preferred Stock | $ / shares										$ 11.5207			$ 11.5207
Dividend declared or paid | $								$ 0
Cash dividends on preferred stock | $										$ 479,000			$ 3,400,000	$ 1,400,000
Special Voting Preferred Stock
Class Of Stock [Line Items]
Preferred stock, shares authorized																		2,000
Special Voting Preferred Stock | Minimum
Class Of Stock [Line Items]
Percentage of ownership on outstanding common stock in aggregate													5.00%
Special Voting Preferred Stock | Maximum
Class Of Stock [Line Items]
Percentage of ownership on outstanding common stock in aggregate													15.00%
Convertible Notes due 2022
Class Of Stock [Line Items]
Aggregate principal amount | $										162,500,000			$ 162,500,000
Amendment No. 10 | Series A Preferred Stock
Class Of Stock [Line Items]
Dividends payable record date													Jan. 20, 2017
Dividends payable, date declared													Jan. 10, 2017
Dividends payable date													Jan. 31, 2017
Dividends payable | $										$ 7,300,000			$ 7,300,000
Amendment No. 10 | Series B Preferred Stock
Class Of Stock [Line Items]
Dividends payable record date													Jan. 20, 2017
Dividends payable, date declared													Jan. 10, 2017
Dividends payable date													Jan. 31, 2017
Securities Purchase Agreement | Additional Notes
Class Of Stock [Line Items]
Aggregate principal amount | $																			$ 75,000,000
Aggregate principal amount, exchanged | $																	$ 37,500,000
2016 Rights Agreement | Series C Preferred Stock
Class Of Stock [Line Items]
Number of rights issued on dividend declared | Right						1
Dividend payment terms													The dividend was paid to stockholders of record on January 28, 2016. Each 2016 Right entitled the holder, subject to the terms of the 2016 Rights Agreement, to purchase one one-thousandth of a share of the Company’s Series C Junior Participating Preferred Stock (the “Series C Preferred Stock”) at a price of $6.96, subject to certain adjustments.
Preferred stock, dividend rate, per share | $ / shares						$ 6.96
Dividends payable record date												Jan. 28, 2016
Expiration date of rights													Jan. 18, 2017
2017 Rights Agreement | Series C Preferred Stock
Class Of Stock [Line Items]
Number of rights issued on dividend declared | Right				1
Dividend payment terms													The dividend was paid to stockholders of record on February 10, 2017. Each Right entitled the holder, subject to the terms of the 2017 Rights Agreement, to purchase one one-thousandth of a share of Series C Preferred Stock at a price of $10.74, subject to certain adjustments.
Preferred stock, dividend rate, per share | $ / shares				$ 10.74
Dividends payable record date				Feb. 10, 2017
Ares Management, LLC | Special Voting Preferred Stock
Class Of Stock [Line Items]
Preferred stock, shares issued																	2,000
Ares Management, LLC | Securities Purchase Agreement
Class Of Stock [Line Items]
Aggregate principal amount | $																			$ 75,000,000
Number of consecutive trading days used in volume-weighted average trading price			30 days
Volume-weighted average trading price of the common shares | $ / shares			$ 1.7002
Aggregate principal amount, exchanged | $	$ 37,500,000
Ares Management, LLC | Securities Purchase Agreement | Convertible Notes due 2022
Class Of Stock [Line Items]
Aggregate principal amount | $		$ 125,000,000
Ares Management, LLC | Securities Purchase Agreement | Common Stock
Class Of Stock [Line Items]
Issuance of common shares - cash, net of offering costs (shares)	25,456,521	29,408,305
Proceeds from issuance of common stock, net of issuance costs | $		$ 50,000,000
ATM Program
Class Of Stock [Line Items]
Issuance of common shares - cash, net of offering costs (shares)									5,447,919						18,606,943
Proceeds from issuance of common stock, net of issuance costs | $									$ 8,300,000						$ 24,400,000
Expiration date													Feb. 24, 2017

Capital Stock (Schedule of Issu

Capital Stock (Schedule of Issuances and Forfeitures of Common Shares) (Details) - Restricted shares - shares		3 Months Ended	9 Months Ended
		Sep. 30, 2017	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted common stock granted		5,000,000	8,649,345
Shares of restricted common stock vested		24,338	1,193,263
Shares of restricted common stock surrendered upon vesting/exercise	[1]	871	356,450
Shares of restricted common stock forfeited		0	36,747
[1]	Represents shares of common stock forfeited in connection with the payment of estimated withholding taxes on shares of restricted common stock that vested during the period.

Interest Expense (Schedule of C

Interest Expense (Schedule of Components of Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest Expense [Abstract]
Cash and accrued	$ 8,897	$ 8,158	$ 26,103	$ 25,275
Amortization of deferred financing costs and debt discount	3,291	986	8,218	3,812
Capitalized interest	(2,029)	(966)	(4,577)	(2,348)
Total interest expense	$ 10,159	$ 8,178	$ 29,744	$ 26,739

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Current income tax benefit or provision	$ 0	$ 0	$ 0	$ 0

Earnings per Share (Schedule of

Earnings per Share (Schedule of Earnings per Share, Basic and Diluted, by Common Class, Including Two Class Method) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Net loss attributable to common stockholders	$ (15,917)	$ (3,796)	$ (44,631)	$ (95,371)
Weighted average common shares outstanding basic (shares)	209,072,232	129,301,817	190,745,688	104,125,317
Incremental shares from unvested restricted shares	0	0	0	0
Incremental shares from outstanding stock options	0	0	0	0
Incremental shares from outstanding PBUs	0	0	0	0
Weighted average common shares outstanding diluted (shares)	209,072,232	129,301,817	190,745,688	104,125,317
Basic (dollars per share)	$ (0.08)	$ (0.03)	$ (0.23)	$ (0.92)
Diluted (dollars per share)	$ (0.08)	$ (0.03)	$ (0.23)	$ (0.92)
Common shares excluded from denominator as anti-dilutive (shares)	75,729,281	1,211,855	64,784,162	1,378,193
Unvested restricted shares
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Common shares excluded from denominator as anti-dilutive (shares)	553,671	170,362	750,499	540,994
Unvested PBUs
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Common shares excluded from denominator as anti-dilutive (shares)	1,654,841	1,041,493	713,911	837,199
Convertible notes
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Common shares excluded from denominator as anti-dilutive (shares)	73,520,769	0	63,319,752	0

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details)	May 03, 2016Officer	Sep. 30, 2017	Dec. 29, 2015USD ($)
Gastar Exploration Inc V Christopher Mc Arthur | Maximum
Loss Contingencies [Line Items]
Damages sought in arbitration matter | $			$ 2,750,000
Torchlight Energy Resources, Inc., Torchlight Energy, Inc. v. Husky Ventures, Inc.
Loss Contingencies [Line Items]
Number of executive officers filed lawsuit | Officer	2
Loss contingency, actions taken by plaintiff		On August 17, 2016, Plaintiffs nonsuited, without prejudice, their claims against the former chairman of the board.
Loss contingency, date of dismissal of plantiff claims		May 22, 2017

Statement of Cash Flows - Sup55

Statement of Cash Flows - Supplemental Information (Schedule of Supplemental Cash Paid and Non-cash Transactions) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Supplemental Cash Flow Information [Abstract]
Cash paid for interest, net of capitalized amounts			$ 17,770	$ 16,140
Non-cash transactions:
Capital expenditures included in accounts payable and accrued drilling costs			12,176	4,913
Capital expenditures included in accounts receivable			76	409
Asset retirement obligation included in oil and natural gas properties			403	92
Asset retirement obligation sold			(1,533)	(694)
Application of advances to operators			24	(378)
Non-cash financing charges excluded from accounts payable and accrued liabilities			19
Expenses accrued for issuance of common stock				2
Undeclared cumulative dividends on preferred stock	$ 2,412	$ 3,618	2,412	$ 7,237
Conversion of convertible debt to equity			$ 37,500

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - First Lien Secured Term Loan - USD ($) $ in Thousands		3 Months Ended
		Oct. 01, 2017	Oct. 02, 2017	Sep. 30, 2017
Subsequent Event [Line Items]
Principal balance	[1],[2]			$ 250,000
Subsequent Event | Amendment No. 2
Subsequent Event [Line Items]
Percentage of interest pay in kind		100.00%
Kind interest due, amount		$ 6,600
Principal balance			$ 256,600
[1]	Pursuant to Amendment No. 2 (as defined below), on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan (as defined below) to $256.6 million at such time.
[2]	Pursuant to Amendment No. 2, on October 2, 2017, the Company elected to pay in kind 100% of the interest due for the period June 30, 2017 to October 1, 2017 in the amount of $6.6 million, thus increasing the outstanding principal balance of the Term Loan to $256.6 million at such time.