Cimarex Resolute (REN) 10-Q 9 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	REN
Entity Registrant Name	Resolute Energy Corp
Entity Central Index Key	1,469,510
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		77,048,763

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 2,921	$ 9,297
Accounts receivable	34,801	37,100
Commodity derivative instruments	71,035	92,431
Prepaid expenses and other current assets	1,261	1,387
Total current assets	110,018	140,215
Property and equipment, at cost:
Oil and gas properties, full cost method of accounting, Unproved	27,733	21,264
Oil and gas properties, full cost method of accounting, Proved	1,755,485	1,732,707
Other property and equipment	9,678	9,648
Accumulated depletion, depreciation and amortization	(1,608,370)	(1,540,447)
Net property and equipment	184,526	223,172
Other assets:
Restricted cash	21,498	21,497
Commodity derivative instruments	3,664	3,463
Other assets	1,995	2,636
Total assets	321,701	390,983
Current liabilities:
Accounts payable	12,775	7,101
Accrued expenses	40,816	45,496
Accrued interest payable	14,261	5,764
Asset retirement obligations	1,068	891
Commodity derivative instruments	120
Total current liabilities	69,040	59,252
Long term liabilities:
Secured term loan facility	119,723	118,944
Senior notes	396,340	396,051
Asset retirement obligations	18,614	18,347
Commodity derivative instruments	2,592
Other long term liabilities	1,688	1,670
Total liabilities	$ 607,997	$ 594,264
Commitments and contingencies
Stockholders’ equity (deficit):
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding
Common stock, $0.0001 par value; 225,000,000 shares authorized; issued and outstanding 77,055,646 and 77,210,735 shares at March 31, 2016 and December 31, 2015, respectively	$ 8	$ 8
Additional paid-in capital	661,415	659,118
Accumulated deficit	(947,719)	(862,407)
Total stockholders’ deficit	(286,296)	(203,281)
Total liabilities and stockholders’ deficit	$ 321,701	$ 390,983

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (UNAUDITED) (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	225,000,000	225,000,000
Common stock, issued	77,055,646	77,210,735
Common stock, outstanding	77,055,646	77,210,735

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Oil	$ 17,795	$ 36,344
Gas	978	3,814
Natural gas liquids	229	975
Total revenue	19,002	41,133
Operating expenses:
Lease operating	13,817	20,356
Production and ad valorem taxes	3,142	5,890
Depletion, depreciation, amortization, and asset retirement obligation accretion	10,361	31,912
Impairment of proved oil and gas properties	58,000	220,000
General and administrative	8,968	7,311
Cash-settled incentive awards	798
Total operating expenses	95,086	285,469
Loss from operations	(76,084)	(244,336)
Other income (expense):
Interest expense, net	(13,075)	(11,156)
Commodity derivative instruments gain	3,841	24,910
Other income	6	6
Total other income (expense)	(9,228)	13,760
Loss before income taxes	(85,312)	(230,576)
Income tax benefit (expense)		22,354
Net loss	$ (85,312)	$ (208,222)
Net loss per common share:
Basic and diluted	$ (1.13)	$ (2.80)
Weighted average common shares outstanding:
Basic and diluted	75,182	74,284

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (UNAUDITED) - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning Balance at Dec. 31, 2015	$ (203,281)	$ 8	$ 659,118	$ (862,407)
Beginning Balance (in shares) at Dec. 31, 2015	77,210,735	77,211,000
Issuance of stock, restricted stock and share-based compensation	$ 2,357		2,357
Issuance of stock, restricted stock and share-based compensation (in shares)		226,000
Redemption of restricted stock for employee income tax and restricted stock forfeitures	(60)		(60)
Redemption of restricted stock for employee income tax and restricted stock forfeitures (in shares)		(381,000)
Net loss	(85,312)			(85,312)
Ending Balance at Mar. 31, 2016	$ (286,296)	$ 8	$ 661,415	$ (947,719)
Ending Balance (in shares) at Mar. 31, 2016	77,055,646	77,506,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities:
Net loss	$ (85,312)	$ (208,222)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depletion, depreciation, amortization, and asset retirement obligation accretion	10,361	31,912
Impairment of proved oil and gas properties	58,000	220,000
Amortization of deferred financing costs and long-term debt premium and discount	1,303	1,497
Share-based compensation	2,324	3,034
Commodity derivative instruments gain	(3,841)	(24,910)
Commodity derivative settlement gains	27,748	24,190
Deferred income tax benefit		(22,354)
Change in operating assets and liabilities:
Accounts receivable	2,332	12,872
Other current assets	126	(66)
Accounts payable and accrued expenses	(5,001)	(15,820)
Accrued interest payable	8,497	8,500
Net cash provided by operating activities	16,537	30,633
Investing activities:
Oil and gas exploration and development expenditures	(23,001)	(34,054)
Proceeds from sale of oil and gas properties and other	166	518
Purchase of other property and equipment	(30)	(32)
Restricted cash	(1)	(1,636)
Other	13	13
Net cash used in investing activities	(22,853)	(35,191)
Financing activities:
Proceeds from bank borrowings		60,000
Repayments of borrowings		(55,375)
Payment of financing costs		(3,687)
Redemption of restricted stock for employee income taxes	(60)	(152)
Net cash provided by (used in) financing activities	(60)	786
Net decrease in cash and cash equivalents	(6,376)	(3,772)
Cash and cash equivalents at beginning of period	9,297	4,352
Cash and cash equivalents at end of period	$ 2,921	$ 580

Organization and Nature of Busi

Organization and Nature of Business	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Organization and Nature of Business	Note 1 — Organization and Nature of Business Resolute Energy Corporation (“Resolute” or the “Company”), is an independent oil and gas company engaged in the exploitation, development, exploration for and acquisition of oil and gas properties. The Company’s operating assets are comprised primarily of properties in Aneth Field located in the Paradox Basin in southeast Utah (the “Aneth Field Properties” or “Aneth Field”) and the Permian Basin in west Texas and southeast New Mexico (the “Permian Properties” or “Permian Basin Properties”). The Company conducts all of its activities in the United States of America. Resolute Energy Corporation, the stand-alone parent entity, has insignificant independent assets and no operations. There are no restrictions on the Company’s ability to obtain cash dividends or other distributions of funds from its subsidiaries, except those imposed by applicable law.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2 — Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The unaudited condensed consolidated financial statements include Resolute and its subsidiaries, and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and Regulation S-X for interim financial reporting. Except as disclosed herein, there has been no material change in our basis of presentation from the information disclosed in the notes to Resolute’s consolidated financial statements for the year ended December 31, 2015. In the opinion of management, all adjustments consisting of normal recurring accruals considered necessary for a fair presentation of the interim financial information have been included. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the full year. All significant intercompany transactions have been eliminated upon consolidation. In connection with the preparation of the condensed consolidated financial statements, Resolute evaluated subsequent events that occurred after the balance sheet date, through the date of filing. Significant Accounting Policies The significant accounting policies followed by Resolute are set forth in Resolute’s consolidated financial statements for the year ended December 31, 2015. These unaudited condensed consolidated financial statements are to be read in conjunction with the consolidated financial statements appearing in Resolute’s Annual Report on Form 10-K and related notes for the year ended December 31, 2015. Recent Accounting Pronouncements In March 2016 the FASB issued new authoritative guidance related to the simplification of several aspects of accounting for share-based payment transactions. The main provisions require that all excess tax benefits and tax deficiencies be recognized as income tax expense or benefit in the income statement. The adoption of this guidance in the first quarter of 2016 had no prior period effect. In February 2016 the FASB issued new authoritative guidance related to the accounting of leases. The main provisions require that lessees recognize both a lease liability and a right-of-use asset at the commencement date. This authoritative accounting guidance is effective for the annual period beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2018. The Company is currently evaluating the provisions of this guidance and assessing its impact on the Company’s financial statements and disclosures. In August 2014 the FASB issued new authoritative accounting guidance related to management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern. This authoritative accounting guidance is effective for the annual period beginning after December 15, 2016, and interim periods within annual periods beginning after December 31, 2016. The Company is currently evaluating the provisions of this guidance and assessing its impact on the Company’s financial statements and disclosures. Assumptions, Judgments and Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make various assumptions, judgments and estimates to determine the reported amounts of assets, liabilities, revenue and expenses, and in the disclosures of commitments and contingencies. Changes in these assumptions, judgments and estimates will occur as a result of the passage of time and the occurrence of future events. Accordingly, actual results could differ from amounts previously established. Significant estimates with regard to the condensed consolidated financial statements include proved oil and gas reserve volumes and the related present value of estimated future net cash flows used in the ceiling test applied to capitalized oil and gas properties; asset retirement obligations; valuation of derivative assets and liabilities; share-based compensation expense; depletion, depreciation and amortization; accrued liabilities; revenue and related receivables and income taxes. Oil and Gas Properties Pursuant to full cost accounting rules, Resolute is required to perform a quarterly “ceiling test” calculation to test its oil and gas properties for possible impairment. The primary components impacting the calculation are commodity prices, reserve quantities added and produced, overall exploration and development costs and depletion expense. If the net capitalized cost of the Company’s oil and gas properties subject to amortization (the “carrying value”) exceeds the ceiling limitation, the excess would be charged to expense. The ceiling limitation is equal to the sum of the present value discounted at 10% of estimated future net cash flows from proved reserves, the cost of properties not being amortized, the lower of cost or estimated fair value of unproven properties included in the costs being amortized, and all related tax income effects. For the three months ended March 31, 2016 and 2015, the Company recorded non-cash impairments of the carrying value of its oil and gas properties of $58 million and $220 million, respectively, as a result of the ceiling test limitation. If in future periods a negative impact continues on one or more of the components of the calculation, including market prices of oil and gas (based on a trailing twelve-month unweighted average of the oil and gas prices in effect on the first day of each month), differentials from posted prices, future drilling and capital plans, operating costs or expected production, the Company may incur further full cost ceiling impairment related to its oil and gas properties in such periods.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisitions and Divestitures	Note 3 — Acquisitions and Divestitures Divestiture of Gardendale Properties in the Midland Basin In December 2015 the Company sold its Gardendale properties in the Midland Basin in Midland and Ector counties, Texas, for approximately $172 million. The sale was consummated on December 22, 2015, with an effective date of September 1, 2015. The net proceeds of the sale were used to reduce debt under the Company’s revolving credit facility and secured term loan facility (both as defined in Note 5). As part of the sale, the Company was no longer liable for asset retirement obligations of $5.6 million at December 31, 2015. Divestiture of Hilight Field Properties in the Powder River Basin In October 2015, the Company sold its Hilight Field Properties in the Powder River Basin for approximately $55 million. The sale was consummated on October 6, 2015, with an effective date of July 1, 2015. The net proceeds under this sale were used to pay down amounts outstanding under the revolving credit facility (as defined in Note 5). As a part of the sale, the Company was no longer liable for asset retirement obligations of $8.1 million at December 31, 2015. Divestiture of Howard and Martin County Properties In May 2015, the Company sold its Howard and Martin County properties in the Permian Basin for approximately $42 million. The sale was consummated on May 1, 2015, with an effective date of March 1, 2015. The net proceeds under this sale were used to pay down amounts outstanding under the revolving credit facility (as defined in Note 5). As part of the sale, the Company was no longer liable for asset retirement obligations of $1.3 million at December 31, 2015. The unaudited pro forma financial information for the three months ended March 31, 2015 reflects Resolute’s results as if the Gardendale, Hilight Field, and Howard and Martin County properties were sold on January 1, 2015 (in thousands, except per share amounts): Three Months Ended March 31, 2015 Revenue $ 31,057 Loss from operations (246,562 ) Net loss (207,512 ) Basic and diluted net loss per share $ (2.79 )

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings per Share	Note 4 — Earnings per Share The Company computes basic net income (loss) per share using the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed using the weighted average number of shares of common stock and, if dilutive, potential shares of common stock outstanding during the period. Potentially dilutive shares consist of the incremental shares and options issuable under the Company’s 2009 Performance Incentive Plan (the “Incentive Plan”). The treasury stock method is used to measure the dilutive impact of potentially dilutive shares. The following table details the potential weighted average dilutive and anti-dilutive securities for the periods presented (in thousands): Three Months Ended March 31, 2016 2015 Potential dilutive restricted stock 2,051 2,245 Anti-dilutive securities 5,683 4,103 The following table sets forth the computation of basic and diluted net income (loss) per share of common stock for the periods presented (in thousands, except per share amounts): Three Months Ended March 31, 2016 2015 Net loss $ (85,312 ) $ (208,222 ) Basic weighted average common shares outstanding 75,182 74,284 Add: dilutive effect of non-vested restricted stock — — Diluted weighted average common shares outstanding 75,182 74,284 Basic and diluted net loss per common share $ (1.13 ) $ (2.80 )

Long Term Debt

Long Term Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long Term Debt	Note 5 — Long Term Debt As of the dates indicated, the Company’s long-term debt consisted of the following (in thousands): Principal Unamortized premium/ (discount) Unamortized deferred financing costs March 31, 2016 Revolving credit facility $ — $ — $ (1,886 ) $ (1,886 ) Secured term loan facility 128,303 (6,667 ) (1,913 ) 119,723 8.50% senior notes 400,000 1,173 (4,833 ) 396,340 Total long-term debt $ 528,303 $ (5,494 ) $ (8,632 ) $ 514,177 Principal Unamortized premium/ (discount) Unamortized deferred financing costs December 31, 2015 Revolving credit facility $ — $ — $ (2,121 ) $ (2,121 ) Secured term loan facility 128,303 (7,223 ) (2,136 ) 118,944 8.50% senior notes 400,000 1,233 (5,182 ) 396,051 Total long-term debt $ 528,303 $ (5,990 ) $ (9,439 ) $ 512,874 Unamortized deferred financing costs associated with the Revolving Credit Facility (as defined below) at March 31, 2016 and December 31, 2015, of $1.9 million and $2.1 million, respectively, have been included in other assets. For the three months ended March 31, 2016 and 2015, the Company incurred interest expense on long-term debt of $13.1 million and $11.2 million, respectively. The Company capitalized $0.4 million and $4.5 million of interest expense during the three months ended March 31, 2016 and 2015, respectively. Revolving Credit Facility Resolute’s revolving credit facility is with a syndicate of banks led by Wells Fargo Bank, National Association, as Administrative Agent, and Bank of Montreal, as Syndication Agent (the “Revolving Credit Facility”) with Resolute as the borrower. The Revolving Credit Facility specifies a maximum borrowing base as determined by the lenders. The determination of the borrowing base takes into consideration the estimated value of Resolute’s oil and gas properties in accordance with the lenders’ customary practices for oil and gas loans. The borrowing base is redetermined semi-annually, and the amount available for borrowing could be increased or decreased as a result of such redeterminations. Under certain circumstances, either Resolute or the lenders may request an interim redetermination. The Revolving Credit Facility matures in March 2018. The Revolving Credit Facility includes covenants that require, among other things, maintenance of certain ratios, measured on a quarterly basis, as follows: (i) secured debt to EBITDA of no more than 3.5 to 1.0, (ii) PV-10 of total proved reserves to total secured debt of at least 1.5 to 1.0, and (iii) PV-10 of proved developed reserves to total secured debt of at least 1.0 to 1.0. Our Revolving Credit Facility also requires us to enter into derivative agreements covering at least 70% of our anticipated production from proved developed producing properties on a rolling twenty-four month basis, but prohibits us from entering into derivative arrangements for more than (i) 85% of our anticipated production from proved properties in the subsequent two years and (ii) the greater of 75% of our anticipated production from proved properties or 85% of our production from projected proved developed producing properties after such two year period, using economic parameters specified in our Revolving Credit Facility. In March 2016 the Company completed its spring borrowing base redetermination, and the borrowing base was set at $105 million. As of March 31, 2016, outstanding borrowings under the Revolving Credit Facility were $0. The borrowing base availability had been reduced by $3.6 million in conjunction with letters of credit issued at March 31, 2016. To the extent that the borrowing base, as adjusted from time to time, exceeds the outstanding balance, no repayments of principal are required prior to maturity. However, should the borrowing base be set at a level below the outstanding balance, Resolute would be required to eliminate that excess within 120 days following that determination. The Revolving Credit Facility is guaranteed by all of Resolute’s subsidiaries and is collateralized by substantially all of the proved oil and gas assets of Resolute Aneth, LLC and Resolute Natural Resources Southwest, LLC, which are wholly-owned subsidiaries of the Company. Each base rate borrowing under the Revolving Credit Facility accrues interest at either (a) the London Interbank Offered Rate (“LIBOR”), plus a margin which varies from 1.50% to 2.50% or (b) the alternative Base Rate defined as the greater of (i) the Administrative Agent’s Prime Rate (ii) the Federal Funds effective Rate plus 0.5% or (iii) an adjusted London Interbank Offered Rate plus a margin which ranges from 0.50% to 1.50%. Each such margin is based on the level of utilization under the borrowing base. The Revolving Credit Facility includes customary terms and covenants that place limitations on certain types of activities, the payment of dividends, and require satisfaction of certain financial tests. Resolute was in compliance with the terms and covenants of the Revolving Credit Facility at March 31, 2016. Secured Term Loan Agreement On December 30, 2014, Resolute and certain of its subsidiaries, as guarantors, entered into a second lien Secured Term Loan Agreement with Bank of Montreal, as administrative agent, and the lenders party thereto, pursuant to which the Company borrowed $150 million (the “Secured Term Loan Facility”). Initial funding of the Secured Term Loan Facility occurred on December 31, 2014, with net proceeds of approximately $135 million after payment of transaction-related fees, expenses and discounts. Net proceeds were used to repay amounts outstanding under the Revolving Credit Facility. The Secured Term Loan Facility will mature on the date that is six months after the maturity of the Company’s existing Revolving Credit Facility, but in no event later than November 1, 2019. On May 18, 2015, Resolute and certain of its subsidiaries, as guarantors, entered into an Amendment to the Secured Term Loan Agreement and Increased Facility Activation Notice-Incremental Term Loans (the “Amendment”) with Bank of Montreal, as administrative agent, and the lenders party thereto, pursuant to which the Company borrowed an additional $50 million of second lien term debt (the “Incremental Term Loans”) under its Secured Term Loan Agreement dated December 30, 2014. Funding of the Incremental Term Loans occurred on May 19, 2015. The Incremental Term Loans have the same terms as the existing second lien borrowings under the Secured Term Loan Agreement, adjusted for the date of the closing. The $50 million of Incremental Term Loans was placed with the same lenders that participated in the initial $150 million second lien closing in December 2014. Net proceeds from the Incremental Term Loans of approximately $46 million after payment of transaction-related fees, expenses and discounts, were used to repay amounts outstanding under the Revolving Credit Facility. Obligations under the Secured Term Loan Facility are guaranteed by certain of the Company’s subsidiaries and secured by second priority liens on substantially all of the assets of the Company and its subsidiaries that serve as collateral under the Revolving Credit Facility. Borrowings under the Secured Term Loan Facility will generally bear interest at adjusted LIBOR plus 10%, with a 1% LIBOR floor. The covenants in the Secured Term Loan Facility require, among other things, maintenance of certain ratios, measured on a quarterly basis, as follows: (i) secured debt to EBITDA of no more than 3.5 to 1.0, (ii) PV-10 of total proved reserves to total secured debt of at least 1.5 to 1.0, and (iii) PV-10 of proved developed reserves to total secured debt of at least 1.0 to 1.0. Resolute was in compliance with the terms and covenants of the Secured Term Loan Facility at March 31, 2016. The Company may prepay all or a portion of the Secured Term Loan Facility at any time. The Secured Term Loan Facility is subject to mandatory prepayments of 75% of the net cash proceeds from asset sales after any mandatory repayment of first lien debt, subject to a limited right to reinvest proceeds in oil and gas activities and subject to the right of the lenders to waive prepayment. Prepayments made out of proceeds from asset sales are not subject to prepayment premiums. Mandatory repayments are required of 100% of the net cash proceeds of certain debt or equity issuances. Such prepayments are subject to a premium of between 10% declining to 2% during the first 36 months after closing. To the extent not otherwise achieved, aggregate repayments that substantially pay off principal amounts under the second lien facility shall include an additional payment sufficient to ensure that the lenders achieve a 1.25 to 1.0 minimum multiple of their invested capital. During December 2015, the Company retired $70 million of the amount outstanding under the Secured Term Loan Facility following the sale of the Gardendale properties in Midland Basin on December 22, 2015. Due to the lack of an active market, quoted market prices for the Company’s Secured Term Loan Facility or similar debt are not available. The Company used valuation techniques that relied on unobservable inputs, current information including LIBOR interest rates and the specific terms of the Secured Term Loan Facility to estimate the fair value (a Level 3 fair value measurement). The fair value of the Company’s Secured Term Loan Facility at March 31, 2016, was estimated to be $121.6 million, which approximates its the principal less the unamortized discount. Senior Notes In 2012 the Company consummated two private placements of senior notes with principal totaling $400 million (the “Senior Notes”). The Senior Notes are due May 1, 2020, and bear an annual interest rate of 8.50% with the interest on the Senior Notes payable semiannually in cash on May 1 and November 1 of each year. The Senior Notes were issued under an Indenture (the “Indenture”) among the Company and the Company’s existing subsidiaries (the “Guarantors”) in a private transaction not subject to the registration requirements of the Securities Act of 1933. In March 2013, the Company registered the Senior Notes with the Securities and Exchange Commission by filing an amendment to the registration statement on Form S-4 enabling holders of the Senior Notes to exchange the privately placed Senior Notes for publically registered Senior Notes with substantially identical terms. The Indenture contains affirmative and negative covenants that, among other things, limit the Company’s and the Guarantors’ ability to make investments, incur additional indebtedness or issue preferred stock, create liens, sell assets, enter into agreements that restrict dividends or other payments by restricted subsidiaries, consolidate, merge or transfer all or substantially all of the assets of the Company, engage in transactions with the Company’s affiliates, pay dividends or make other distributions on capital stock or prepay subordinated indebtedness and create unrestricted subsidiaries. The Indenture also contains customary events of default. Upon occurrence of events of default arising from certain events of bankruptcy or insolvency, the Senior Notes shall become due and payable immediately without any declaration or other act of the trustee or the holders of the Senior Notes. Upon the occurrence of certain other events of default, the trustee or the holders of the Senior Notes may declare all outstanding Senior Notes to be due and payable immediately. The Company was in compliance with all financial covenants under its Senior Notes as of March 31, 2016. The Senior Notes are general unsecured senior obligations of the Company and guaranteed on a senior unsecured basis by the Guarantors. The Senior Notes rank equally in right of payment with all existing and future senior indebtedness of the Company, will be subordinated in right of payment to all existing and future senior secured indebtedness of the Guarantors, will rank senior in right of payment to any future subordinated indebtedness of the Company and will be fully and unconditionally guaranteed by the Guarantors on a senior basis. The Senior Notes are redeemable by the Company on or after May 1, 2016, on not less than 30 or more than 60 days’ prior notice, at redemption prices set forth in the Indenture. The Senior Notes may be redeemed at any time prior to May 1, 2016, at the option of the Company at a redemption price equal to 100% of the principal amount of the Senior Notes redeemed plus the applicable premium, and accrued and unpaid interest and additional interest, if any, to the applicable redemption date as set forth in the Indenture. If a change of control occurs, each holder of the Senior Notes will have the right to require that the Company purchase all of such holder’s Senior Notes in an amount equal to 101% of the principal of such Senior Notes, plus accrued and unpaid interest, if any, to the date of the purchase. The fair value of the Senior Notes at March 31, 2016, was estimated to be $123 million based upon data from independent market makers (Level 2 fair value measurement).

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Note 6 — Income Taxes Income tax benefit (expense) during interim periods is based on applying an estimated annual effective income tax rate to year-to-date income (loss), plus any significant unusual or infrequently occurring items that are recorded in the interim period. The provision for income taxes for the three months ended March 31, 2016 and 2015, differs from the amount that would be provided by applying the statutory U.S. federal income tax rate of 35% to income before income taxes. This difference relates primarily to the valuation allowance established, in addition to state income taxes and estimated permanent differences. The following table summarizes the components of the provision for income taxes (in thousands): Three Months Ended March 31, 2016 2015 Current income tax benefit (expense) $ — $ — Deferred income tax benefit (expense) — 22,354 Total income tax benefit (expense) $ — $ 22,354 The Company had no reserve for uncertain tax positions as of March 31, 2016. The Company assesses the recoverability of its deferred tax assets each period by considering whether it is more likely than not that all or a portion of the deferred tax assets will be realized. The Company considers all available evidence (both positive and negative) in determining whether a valuation allowance is required. As a result of the Company’s analysis, it was concluded that as of March 31, 2016 a valuation allowance should be established against the Company’s net deferred tax asset. The Company recorded a valuation allowance as of March 31, 2016 of $275 million on its long-term deferred tax asset. The Company will continue to monitor facts and circumstances in the reassessment of the likelihood that the deferred tax assets will be realized.

Stockholders' Equity and Long-t

Stockholders' Equity and Long-term Employee Incentive Plan	3 Months Ended
	Mar. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stockholders' Equity and Long-term Employee Incentive Plan	Note 7 — Stockholders’ Equity and Long-term Employee Incentive Plan Preferred Stock The Company is authorized to issue up to 1,000,000 shares of preferred stock, par value $0.0001 with such designations, voting and other rights and preferences as may be determined from time to time by the Board of Directors. No shares were issued and outstanding as of March 31, 2016, or December 31, 2015. Common Stock The authorized common stock of the Company consists of 225,000,000 shares. The holders of the common shares are entitled to one vote for each share of common stock. In addition, the holders of the common stock are entitled to receive dividends when, as and if declared by the Board of Directors. At March 31, 2016 and December 31, 2015, the Company had 77,055,646 and 77,210,735 shares of common stock issued and outstanding, respectively. Resolute’s common stock trading price is currently below the $1.00 per share minimum price requirement of the New York Stock Exchange (the “NYSE”). The Company was notified of non-compliance with the $1.00 per share requirement in July 2015. In consultation with the NYSE, the Company confirmed that NYSE policies permit the Company a period up until the 2016 annual stockholder meeting to bring the trading price of the Company’s common stock back up to the $1.00 continued listing standard. In order to maintain its listing the Company has submitted for approval by its stockholders at the 2016 annual meeting a proposal for a reverse stock split, and intends to consummate the reverse stock split promptly following the 2016 annual meeting assuming such proposal is approved. Resolute also received notification on November 30, 2015, from the NYSE that the Company’s market capitalization was below the NYSE’s continued listing standard. The Company is considered below criteria established by the NYSE because the Company’s average market capitalization fell below $50 million over a trailing consecutive 30 trading-day period and its last reported stockholders’ equity was less than $50 million. In accordance with NYSE procedures, the Company had 45 days from the receipt of the notice to submit a business plan to the NYSE demonstrating how it intends to regain compliance with the NYSE’s continued listing standards within eighteen months. Resolute developed and submitted such a business plan within the required time frame and the NYSE accepted the plan. The Company will be subject to quarterly monitoring for compliance with the business plan and the Company’s common stock will continue to trade on the NYSE during the eighteen month period, subject to the Company’s compliance with other NYSE continued listing requirements. The NYSE may choose to shorten the usual compliance period if prior to the end of the eighteen months the Company’s market capitalization is over $50 million for two consecutive quarters. Long Term Employee Incentive Plan The Company accounts for share-based compensation in accordance with FASB ASC Topic 718, Stock Compensation In July 2009, the Company adopted the Incentive Plan, providing for long-term share-based awards intended as a means for the Company to attract, motivate, retain and reward directors, officers, employees and other eligible persons through the grant of awards and incentives for high levels of individual performance and improved financial performance of the Company. The share-based awards are also intended to further align the interests of award recipients and the Company’s stockholders. The maximum number of shares of common stock that may be issued under the Incentive Plan is 12,257,744 (which includes the additional 3,100,000 shares under Amendment No. 2 to the incentive plan approved by the Company’s stockholders on June 8, 2015). The Company has submitted for approval by its stockholders at the 2016 annual meeting a proposal for the amendment of the Incentive Plan to increase the number of shares available for issuance thereunder by 5,000,000 shares. In May 2015, the Board and its Compensation Committee approved a long-term incentive program for 2015 under the Incentive Plan consisting of grants of (i) options to purchase shares of common stock of the Company, vesting in equal annual installments on each of the first three anniversaries of the date of grant, with an exercise price of $1.35 per share and a ten year term, (ii) time-vested restricted cash awards of $5.2 million, vesting in equal annual installments on each of the first three anniversaries of the date of grant, and (iii) performance-vested restricted cash awards of $2.9 million, as described below. In September 2015, the Board and its Compensation Committee approved a grant consistent with the terms defined above of options to purchase shares of common stock of the Company, vesting in equal annual installments on each of the first three anniversaries of the date of grant, with an exercise price of $0.42 per share and a ten year term. In February 2016, the Board of Directors and Compensation Committee of the Company approved long-term incentive awards to employees and non-employee directors for 2016 consisting of a combination of stock options, cash-settled stock appreciation rights and restricted cash grants under the Incentive Plan. The 2016 long-term incentive awards to employees and non-employee directors consisted of grants of (i) options to purchase 3,707,524 shares of common stock of the Company with a ten-year term, vesting in three equal annual installments on March 8 of 2017, 2018 and 2019, with exercise prices of $0.53 per share (as to 1,677,130 shares) and $0.583 per share (as to 2,030,394 shares), (ii) 8,514,381 cash-settled stock appreciation rights with a ten-year term, vesting in three equal annual installments on March 8 of 2017, 2018 and 2019, with a base price of $0.53 per share (as to 2,431,964 rights) and $0.583 per share (as to 6,082,417 rights), (iii) $5,329,870 time-vested restricted cash awards, vesting in three equal annual installments on March 8 of 2017, 2018 and 2019, and (iv) 225,748 shares of restricted stock vesting on March 8, 2017. For the three months ended March 31, 2016 and 2015, the Company recorded expense related to the Incentive Plan as follows (in thousands): Three Months Ended March 31, 2016 2015 Time-based restricted stock awards $ 1,777 $ 2,281 TSR awards 337 702 Stock appreciation awards — 11 Stock option awards 189 — Time-based restricted cash awards 649 — Performance-based restricted cash awards 38 — Cash-settled stock appreciation awards 111 — Total Incentive Plan compensation expense $ 3,101 $ 2,994 As of March 31, 2016 the Company held unrecognized share-based compensation expense (in thousands) which is expected to be recognized over a weighted-average period as follows: Weighted Unrecognized Average Compensation Years Expense Remaining Time-based restricted stock awards $ 3,610 0.8 TSR awards 1,325 0.9 Stock option awards 2,468 2.7 Total unrecognized compensation expense $ 7,403 Equity Awards Equity awards consist of service-based and performance-based restricted stock units and stock options under the Incentive Plan. Stock Option Awards Options issued to employees to purchase shares of common stock vest in three equal annual installments at specified dates based on continued employment with a ten year term. The compensation expense to be recognized for the option awards was measured based on the Company’s estimated fair value at the date of grant using a Black-Scholes pricing model as well as estimated forfeiture rates between 0% and 15%, no dividends, expected stock price volatility ranging from 63% to 67% and a risk free rate ranging between 1.75% and 2.27%. During the three months ended March 31, 2016, the Company granted 3,707,524 options, with a weighted-average exercise price of $0.56 per share, to employees to purchase shares of common stock, pursuant to the Incentive Plan. The following table summarizes the changes in non-vested option awards for the three months ended March 31, 2016: Weighted Average Grant Date Shares Fair Value Non-vested, beginning of period 1,982,502 $ 0.92 Granted 3,707,524 0.39 Vested — — Forfeited (6,972 ) 0.97 Non-vested, end of period 5,683,054 $ 0.57 Time-Based Restricted Stock Awards Shares of time-based restricted stock issued to employees generally vest in three or four equal annual installments at specified dates based on continued employment. Shares issued to non-employee directors vest in one year based on continued service. The compensation expense to be recognized for the time-based restricted stock awards was measured based on the Company’s closing stock price on the dates of grant, utilizing estimated forfeiture rates between 0% and 15% which are updated periodically based on actual employee turnover. During the three months ended March 31, 2016 the Company granted 225,748 shares of time-based restricted stock to non-employee directors, pursuant to the Incentive Plan. The following table summarizes the changes in non-vested time-based restricted stock awards for the three months ended March 31, 2016: Weighted Average Grant Date Shares Fair Value Non-vested, beginning of period 1,428,974 $ 8.42 Granted 225,748 0.53 Vested (723,041 ) 9.83 Forfeited (6,426 ) 9.28 Non-vested, end of period 925,255 $ 5.38 Stock Appreciation Awards At March 31, 2016, no share-settled stock appreciation awards remain outstanding as all remaining awards expired on December 31, 2015. TSR Awards In 2013 and 2014 the Compensation Committee and Board awarded performance-based restricted shares to executive officers of the Company under the Incentive Plan. The restricted stock grants vest only upon achievement of thresholds of cumulative total shareholder return (“TSR”) as compared to a specified peer group (the “Performance-Vested Shares”). A TSR percentile (the “TSR Percentile”) is calculated based on the change in the value of the Company’s common stock between the grant date and the applicable vesting date, including any dividends paid during the period, as compared to the respective TSRs of a specified group of seventeen peer companies. The Performance-Vested Shares vest in three installments to the extent that the applicable TSR Percentile ranking thresholds are met upon the one-, two- and three-year anniversaries of the grant date. Performance-Vested Shares that are eligible to vest on a vesting date, but do not qualify for vesting, become eligible for vesting again on the next vesting date. All Performance-Vested Shares that do not vest as of the final vesting date will be forfeited on such date. The Compensation Committee also granted rights to earn additional shares of common stock upon achievement of a higher TSR Percentile (“Outperformance Shares”). The Outperformance Shares are earned in increasing increments based on a TSR Percentile attained over a specified threshold. Outperformance Shares may be earned on any vesting date to the extent that the applicable TSR Percentile ranking thresholds are met in three installments on the one-, two- and three-year anniversaries of the grant date. Outperformance Shares that are earned at a vesting date will be issued to the recipient; however, prior to such issuance, the recipient is not entitled to stockholder rights with respect to Outperformance Shares. Outperformance Shares that are eligible to be earned but remain unearned on a vesting date become eligible to be earned again on the next vesting date. The right to earn any theretofore unearned Outperformance Shares terminates immediately following the final vesting date. The Performance-Vested Shares and the Outperformance Shares are referred to as the “TSR Awards.” The compensation expense to be recognized for the TSR Awards was measured based on the estimated fair value at the date of grant using a Monte Carlo simulation model and utilizes estimated forfeiture rate of 4% which is updated periodically based on actual employee turnover. The following table summarizes the changes in non-vested TSR Awards for the three month period ended March 31, 2016: Weighted Average Grant Date Shares Fair Value Non-vested, beginning of period 764,598 $ 14.26 Granted — — Vested — — Forfeited — — Expired (276,779 ) 15.91 Non-vested, end of period 487,819 $ 13.32 Liability Awards Liability awards consist of awards that are settled in cash instead of shares, as discussed below. Cash-settled Stock Appreciation Rights A stock appreciation right is the right to receive an amount in cash equal to the excess, if any, of the fair market value of a share of common stock on the date on which the right is exercised over its base price. The February 2016 grants of cash-settled stock appreciation rights hold base prices of $0.53 per share (as to 2,431,964 rights) and $0.583 per share (as to 6,082,417 rights). These awards vest in three equal annual installments and have a ten-year term. The fair value of the cash-settled stock appreciation rights as of grant date and March 31, 2016, was $3.3 million and $3.0 million, respectively, of which $0.1 million has been accrued as of March 31, 2016. Time-Based Restricted Cash Awards Awards of time-based restricted cash issued to employees vest in three equal annual increments at specified dates based on continued employment. Time based restricted cash issued to non-employee directors vests in one year based on continued service. The compensation expense to be recognized for the time-based restricted cash awards was measured utilizing estimated forfeiture rates between 0% and 15% which will be updated periodically based on actual employee turnover. The total estimated future liability of the time-based restricted cash awards as of March 31, 2016, was $9.1 million, of which $1.6 million has been accrued. Performance-Based Restricted Cash Awards The performance criteria for the performance-based restricted cash awards granted in May 2015 are based on future prices of the Company’s common stock trading at or above specified thresholds. If and as certain stock price thresholds are met, using a 60 trading day average, various multiples of the performance-vested cash award will be attained. The first stock price hurdle is at $2.00 at which the award would be payable at 1x, and the highest stock price hurdle would be $8.00 at which the award would be payable at a multiple of 6x. Interim hurdles and multiples between these end points are set forth in the governing agreements. The performance-based cash awards have a ten year term ( i.e. The estimated fair value of the performance-based restricted cash awards as of March 31, 2016 was $0.5 million of which $0.3 million has been accrued as of March 31, 2016 based upon the three-year vesting. The fair value was estimated using an option pricing model for a cash or nothing call, an estimated forfeiture rate of 5% and an average effective term of seven years. As the fair value of liability awards is required to be re-measured at each period end, amounts recognized in future periods will vary.

Asset Retirement Obligation

Asset Retirement Obligation	3 Months Ended
	Mar. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation	Note 8 — Asset Retirement Obligation Resolute’s estimated asset retirement obligation liability is based on estimated economic lives, estimates as to the cost to abandon the wells and facilities in the future, and federal and state regulatory requirements. The liability is discounted using a credit-adjusted risk-free rate estimated at the time the liability is incurred or revised, that ranges between 7% and 12%. Revisions to the liability could occur due to changes in estimated abandonment costs or well economic lives, or if federal or state regulators enact new requirements regarding the abandonment of wells. Asset retirement obligations are valued utilizing Level 3 fair value measurement inputs. The following table provides a reconciliation of Resolute’s asset retirement obligations for the periods presented (in thousands): Three Months Ended March 31, 2016 2015 Asset retirement obligations at beginning of period $ 19,238 $ 31,340 Additional liability incurred / acquired 8 — Accretion expense 437 723 Liabilities settled (1 ) (16 ) Revisions to previous estimates — 217 Asset retirement obligations at end of period 19,682 32,264 Less: current asset retirement obligations (1,068 ) (631 ) Long-term asset retirement obligations $ 18,614 $ 31,633

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 9 — Derivative Instruments Resolute enters into commodity derivative contracts to manage its exposure to oil and gas price volatility. Resolute has not elected to designate derivative instruments as cash flow hedges under the provisions of FASB ASC Topic 815, Derivatives and Hedging The Company utilizes fixed price swaps, basis swaps, option contracts and two-and three-way collars. These instruments generally entitle Resolute (the floating price payer in most cases) to receive settlement from the counterparty (the fixed price payer in most cases) for each calculation period in amounts, if any, by which the settlement price for the scheduled trading days applicable to each calculation period is less than the fixed strike price or floor price. The Company would pay the counterparty if the settlement price for the scheduled trading days applicable to each calculation period exceeds the fixed strike price or ceiling price. The amount payable by Resolute, if the floating price is above the fixed or ceiling price is the product of the notional contract quantity and the excess of the floating price over the fixed or ceiling price per calculation period. The amount payable by the counterparty, if the floating price is below the fixed or floor price, is the product of the notional contract quantity and the excess of the fixed or floor price over the floating price per calculation period. A three-way collar consists of a two-way collar contract combined with a put option contract sold by the Company with a strike price below the floor price of the two-way collar. The Company receives price protection at the purchased put option floor price of the two-way collar if commodity prices are above the sold put option strike price. If commodity prices fall below the sold put option strike price, the Company receives the cash market price plus the variance between the put price and the floor price. This type of instrument captures more value in a rising commodity price environment, but limits the benefits in a downward commodity price environment. Basis swaps, when used in connection with fixed price swaps, to fix the price differential between the NYMEX Commodity price and the index price at which the gas production is sold. As of March 31, 2016, the fair value of the Company’s commodity derivatives was a net asset of $72.0 million (Level 2 fair value measurement). The following table represents Resolute’s commodity swap contracts as of March 31, 2016: Oil (NYMEX WTI) Gas (NYMEX Henry Hub) Remaining Term Bbl per Day Weighted Average Swap Price per Bbl MMBtu per Day Weighted Average Swap Price per MMBtu April – December 2016 6,538 $ 80.21 4,935 $ 2.614 January – December 2017 1,032 $ 49.18 2,008 $ 2.807 The following table represents Resolute’s two-way commodity collar contracts as of March 31, 2016: Gas (NYMEX Henry Hub) Remaining Term MMBtu per Day Weighted Average Floor Price per MMBtu Weighted Average Ceiling Price per MMBtu July – December 2017 3,250 $ 2.25 $ 2.64 The following table represents Resolute’s commodity option contract as of March 31, 2016: Oil (NYMEX WTI) Remaining Term Bbl per Day Sold Call Price January – December 2018 1,100 $ 50.00 The following table represents Resolute’s three-way commodity collar contracts as of March 31, 2016: Oil (NYMEX WTI) Weighted Average Weighted Average Weighted Average Remaining Term Bbl per Day Short Put Price per Bbl Floor Price per Bbl Ceiling Price per Bbl January – December 2017 1,000 $ 45.00 $ 60.00 $ 71.73 Subsequent to March 31, 2016, Resolute terminated the three-way commodity collar contracts and entered into additional commodity derivative contracts as summarized below: Oil (NYMEX WTI) Commodity Swap Bbl per Day Weighted Average Swap Price per Bbl January – June 2017 1,000 $ 55.10 Oil (NYMEX WTI) Two-way collar Bbl per Day Weighted Average Floor Price per Bbl Weighted Average Ceiling Price per Bbl July – December 2017 1,000 $ 52.00 $ 64.00 The table below summarizes the location and amount of commodity derivative instrument gains and losses reported in the consolidated statements of operations (in thousands): Three Months Ended March 31, 2016 2015 Other income (expense): Commodity derivative settlement gain $ 27,748 $ 24,190 Mark-to-market gain (loss) (23,907 ) 720 Commodity derivative instruments gain $ 3,841 $ 24,910 Credit Risk and Contingent Features in Derivative Instruments Resolute is exposed to credit risk to the extent of nonperformance by the counterparties in the derivative contracts discussed above. All counterparties are lenders under Resolute’s Revolving Credit Facility. Accordingly, Resolute is not required to provide any credit support to its counterparties other than cross collateralization with the properties securing the Revolving Credit Facility. Resolute’s derivative contracts are documented with industry standard contracts known as a Schedule to the Master Agreement and International Swaps and Derivative Association, Inc. Master Agreement (“ISDA”). Typical terms for each ISDA include credit support requirements, cross default provisions, termination events, and set-off provisions. Resolute generally has set-off provisions with its lenders that, in the event of counterparty default, allow Resolute to set-off amounts owed under the Revolving Credit Facility or other general obligations against amounts owed for derivative contract liabilities. Resolute does not offset the fair value amounts of commodity derivative assets and liabilities with the same counterparty for financial reporting purposes. The following is a listing of Resolute’s commodity derivative assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of March 31, 2016, and December 31, 2015 (in thousands): Level 2 March 31, 2016 December 31, 2015 Assets Derivative instruments, current $ 71,035 $ 92,431 Derivative instruments, long term 3,664 3,463 Total assets $ 74,699 $ 95,894 Liabilities Derivative instruments, current $ 120 $ — Derivative instruments, long term 2,592 — Total liabilities $ 2,712 $ —

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10 — Commitments and Contingencies CO 2 Take-or-Pay Agreements Resolute is party to a take-or-pay purchase agreement with Kinder Morgan CO 2 2 2 2 2 Future minimum CO 2 CO 2 Year Commitments 2016 7,425 2017 2,741 Total $ 10,166 Cooperative Agreement with Navajo Nation Oil and Gas Company Resolute is party to a cooperative agreement with Navajo Nation Oil and Gas Company (“NNOGC”) related to the Aneth Field Properties (the “Cooperative Agreement”). Pursuant to the Cooperative Agreement, NNOGC holds an option to purchase an additional 10% of Resolute’s interest in the Aneth Field Properties. The option is exercisable in July 2017 at the then-current fair market value of such interest at that time.

Basis of Presentation and Sum17

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements include Resolute and its subsidiaries, and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and Regulation S-X for interim financial reporting. Except as disclosed herein, there has been no material change in our basis of presentation from the information disclosed in the notes to Resolute’s consolidated financial statements for the year ended December 31, 2015. In the opinion of management, all adjustments consisting of normal recurring accruals considered necessary for a fair presentation of the interim financial information have been included. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the full year. All significant intercompany transactions have been eliminated upon consolidation. In connection with the preparation of the condensed consolidated financial statements, Resolute evaluated subsequent events that occurred after the balance sheet date, through the date of filing.
Significant Accounting Policies	Significant Accounting Policies The significant accounting policies followed by Resolute are set forth in Resolute’s consolidated financial statements for the year ended December 31, 2015. These unaudited condensed consolidated financial statements are to be read in conjunction with the consolidated financial statements appearing in Resolute’s Annual Report on Form 10-K and related notes for the year ended December 31, 2015.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2016 the FASB issued new authoritative guidance related to the simplification of several aspects of accounting for share-based payment transactions. The main provisions require that all excess tax benefits and tax deficiencies be recognized as income tax expense or benefit in the income statement. The adoption of this guidance in the first quarter of 2016 had no prior period effect. In February 2016 the FASB issued new authoritative guidance related to the accounting of leases. The main provisions require that lessees recognize both a lease liability and a right-of-use asset at the commencement date. This authoritative accounting guidance is effective for the annual period beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2018. The Company is currently evaluating the provisions of this guidance and assessing its impact on the Company’s financial statements and disclosures. In August 2014 the FASB issued new authoritative accounting guidance related to management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern. This authoritative accounting guidance is effective for the annual period beginning after December 15, 2016, and interim periods within annual periods beginning after December 31, 2016. The Company is currently evaluating the provisions of this guidance and assessing its impact on the Company’s financial statements and disclosures.
Assumptions, Judgments and Estimates	Assumptions, Judgments and Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make various assumptions, judgments and estimates to determine the reported amounts of assets, liabilities, revenue and expenses, and in the disclosures of commitments and contingencies. Changes in these assumptions, judgments and estimates will occur as a result of the passage of time and the occurrence of future events. Accordingly, actual results could differ from amounts previously established. Significant estimates with regard to the condensed consolidated financial statements include proved oil and gas reserve volumes and the related present value of estimated future net cash flows used in the ceiling test applied to capitalized oil and gas properties; asset retirement obligations; valuation of derivative assets and liabilities; share-based compensation expense; depletion, depreciation and amortization; accrued liabilities; revenue and related receivables and income taxes.
Oil and Gas Properties	Oil and Gas Properties Pursuant to full cost accounting rules, Resolute is required to perform a quarterly “ceiling test” calculation to test its oil and gas properties for possible impairment. The primary components impacting the calculation are commodity prices, reserve quantities added and produced, overall exploration and development costs and depletion expense. If the net capitalized cost of the Company’s oil and gas properties subject to amortization (the “carrying value”) exceeds the ceiling limitation, the excess would be charged to expense. The ceiling limitation is equal to the sum of the present value discounted at 10% of estimated future net cash flows from proved reserves, the cost of properties not being amortized, the lower of cost or estimated fair value of unproven properties included in the costs being amortized, and all related tax income effects. For the three months ended March 31, 2016 and 2015, the Company recorded non-cash impairments of the carrying value of its oil and gas properties of $58 million and $220 million, respectively, as a result of the ceiling test limitation. If in future periods a negative impact continues on one or more of the components of the calculation, including market prices of oil and gas (based on a trailing twelve-month unweighted average of the oil and gas prices in effect on the first day of each month), differentials from posted prices, future drilling and capital plans, operating costs or expected production, the Company may incur further full cost ceiling impairment related to its oil and gas properties in such periods.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Unaudited Pro Forma Financial Information on Properties Sold	The unaudited pro forma financial information for the three months ended March 31, 2015 reflects Resolute’s results as if the Gardendale, Hilight Field, and Howard and Martin County properties were sold on January 1, 2015 (in thousands, except per share amounts): Three Months Ended March 31, 2015 Revenue $ 31,057 Loss from operations (246,562 ) Net loss (207,512 ) Basic and diluted net loss per share $ (2.79 )

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Weighted Average Dilutive and Anti-Dilutive Securities	The following table details the potential weighted average dilutive and anti-dilutive securities for the periods presented (in thousands): Three Months Ended March 31, 2016 2015 Potential dilutive restricted stock 2,051 2,245 Anti-dilutive securities 5,683 4,103
Computation of Basic and Diluted Net Income (Loss) per Share of Common Stock	The following table sets forth the computation of basic and diluted net income (loss) per share of common stock for the periods presented (in thousands, except per share amounts): Three Months Ended March 31, 2016 2015 Net loss $ (85,312 ) $ (208,222 ) Basic weighted average common shares outstanding 75,182 74,284 Add: dilutive effect of non-vested restricted stock — — Diluted weighted average common shares outstanding 75,182 74,284 Basic and diluted net loss per common share $ (1.13 ) $ (2.80 )

Long Term Debt (Tables)

Long Term Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-term Debt	As of the dates indicated, the Company’s long-term debt consisted of the following (in thousands): Principal Unamortized premium/ (discount) Unamortized deferred financing costs March 31, 2016 Revolving credit facility $ — $ — $ (1,886 ) $ (1,886 ) Secured term loan facility 128,303 (6,667 ) (1,913 ) 119,723 8.50% senior notes 400,000 1,173 (4,833 ) 396,340 Total long-term debt $ 528,303 $ (5,494 ) $ (8,632 ) $ 514,177 Principal Unamortized premium/ (discount) Unamortized deferred financing costs December 31, 2015 Revolving credit facility $ — $ — $ (2,121 ) $ (2,121 ) Secured term loan facility 128,303 (7,223 ) (2,136 ) 118,944 8.50% senior notes 400,000 1,233 (5,182 ) 396,051 Total long-term debt $ 528,303 $ (5,990 ) $ (9,439 ) $ 512,874 Unamortized deferred financing costs associated with the Revolving Credit Facility (as defined below) at March 31, 2016 and December 31, 2015, of $1.9 million and $2.1 million, respectively, have been included in other assets. For the three months ended March 31, 2016 and 2015, the Company incurred interest expense on long-term debt of $13.1 million and $11.2 million, respectively. The Company capitalized $0.4 million and $4.5 million of interest expense during the three months ended March 31, 2016 and 2015, respectively.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Components of Provision for Income Taxes	The following table summarizes the components of the provision for income taxes (in thousands): Three Months Ended March 31, 2016 2015 Current income tax benefit (expense) $ — $ — Deferred income tax benefit (expense) — 22,354 Total income tax benefit (expense) $ — $ 22,354

Stockholders' Equity and Long22

Stockholders' Equity and Long-term Employee Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2016
Expense Related to Incentive Plan	For the three months ended March 31, 2016 and 2015, the Company recorded expense related to the Incentive Plan as follows (in thousands): Three Months Ended March 31, 2016 2015 Time-based restricted stock awards $ 1,777 $ 2,281 TSR awards 337 702 Stock appreciation awards — 11 Stock option awards 189 — Time-based restricted cash awards 649 — Performance-based restricted cash awards 38 — Cash-settled stock appreciation awards 111 — Total Incentive Plan compensation expense $ 3,101 $ 2,994
Unrecognized Compensation Expense and Weighted Average Period Related to Incentive Plan	As of March 31, 2016 the Company held unrecognized share-based compensation expense (in thousands) which is expected to be recognized over a weighted-average period as follows: Weighted Unrecognized Average Compensation Years Expense Remaining Time-based restricted stock awards $ 3,610 0.8 TSR awards 1,325 0.9 Stock option awards 2,468 2.7 Total unrecognized compensation expense $ 7,403
Stock Option Awards
Changes in Non-Vested Stock Option Awards	The following table summarizes the changes in non-vested option awards for the three months ended March 31, 2016: Weighted Average Grant Date Shares Fair Value Non-vested, beginning of period 1,982,502 $ 0.92 Granted 3,707,524 0.39 Vested — — Forfeited (6,972 ) 0.97 Non-vested, end of period 5,683,054 $ 0.57
Time-based restricted stock awards
Changes in Non-Vested Awards	The following table summarizes the changes in non-vested time-based restricted stock awards for the three months ended March 31, 2016: Weighted Average Grant Date Shares Fair Value Non-vested, beginning of period 1,428,974 $ 8.42 Granted 225,748 0.53 Vested (723,041 ) 9.83 Forfeited (6,426 ) 9.28 Non-vested, end of period 925,255 $ 5.38
TSR awards
Changes in Non-Vested Awards	The following table summarizes the changes in non-vested TSR Awards for the three month period ended March 31, 2016: Weighted Average Grant Date Shares Fair Value Non-vested, beginning of period 764,598 $ 14.26 Granted — — Vested — — Forfeited — — Expired (276,779 ) 15.91 Non-vested, end of period 487,819 $ 13.32

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	3 Months Ended
	Mar. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]
Reconciliation of Asset Retirement Obligations	The following table provides a reconciliation of Resolute’s asset retirement obligations for the periods presented (in thousands): Three Months Ended March 31, 2016 2015 Asset retirement obligations at beginning of period $ 19,238 $ 31,340 Additional liability incurred / acquired 8 — Accretion expense 437 723 Liabilities settled (1 ) (16 ) Revisions to previous estimates — 217 Asset retirement obligations at end of period 19,682 32,264 Less: current asset retirement obligations (1,068 ) (631 ) Long-term asset retirement obligations $ 18,614 $ 31,633

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative [Line Items]
Summary of Subsequent Additional Commodity Derivative Contracts	Subsequent to March 31, 2016, Resolute terminated the three-way commodity collar contracts and entered into additional commodity derivative contracts as summarized below: Oil (NYMEX WTI) Commodity Swap Bbl per Day Weighted Average Swap Price per Bbl January – June 2017 1,000 $ 55.10 Oil (NYMEX WTI) Two-way collar Bbl per Day Weighted Average Floor Price per Bbl Weighted Average Ceiling Price per Bbl July – December 2017 1,000 $ 52.00 $ 64.00
Amount of Commodity Derivative Instrument Gains (Losses)	The table below summarizes the location and amount of commodity derivative instrument gains and losses reported in the consolidated statements of operations (in thousands): Three Months Ended March 31, 2016 2015 Other income (expense): Commodity derivative settlement gain $ 27,748 $ 24,190 Mark-to-market gain (loss) (23,907 ) 720 Commodity derivative instruments gain $ 3,841 $ 24,910
Assets and Liabilities Required to be Measured at Fair Value on Recurring Basis	The following is a listing of Resolute’s commodity derivative assets and liabilities required to be measured at fair value on a recurring basis and where they are classified within the hierarchy as of March 31, 2016, and December 31, 2015 (in thousands): Level 2 March 31, 2016 December 31, 2015 Assets Derivative instruments, current $ 71,035 $ 92,431 Derivative instruments, long term 3,664 3,463 Total assets $ 74,699 $ 95,894 Liabilities Derivative instruments, current $ 120 $ — Derivative instruments, long term 2,592 — Total liabilities $ 2,712 $ —
Commodity Swap Contracts
Derivative [Line Items]
Commodity Contracts and Swaps	The following table represents Resolute’s commodity swap contracts as of March 31, 2016: Oil (NYMEX WTI) Gas (NYMEX Henry Hub) Remaining Term Bbl per Day Weighted Average Swap Price per Bbl MMBtu per Day Weighted Average Swap Price per MMBtu April – December 2016 6,538 $ 80.21 4,935 $ 2.614 January – December 2017 1,032 $ 49.18 2,008 $ 2.807
Two-Way Commodity Collar
Derivative [Line Items]
Commodity Contracts and Swaps	The following table represents Resolute’s two-way commodity collar contracts as of March 31, 2016: Gas (NYMEX Henry Hub) Remaining Term MMBtu per Day Weighted Average Floor Price per MMBtu Weighted Average Ceiling Price per MMBtu July – December 2017 3,250 $ 2.25 $ 2.64
Three-Way Commodity Collar
Derivative [Line Items]
Commodity Contracts and Swaps	The following table represents Resolute’s commodity option contract as of March 31, 2016: Oil (NYMEX WTI) Remaining Term Bbl per Day Sold Call Price January – December 2018 1,100 $ 50.00 The following table represents Resolute’s three-way commodity collar contracts as of March 31, 2016: Oil (NYMEX WTI) Weighted Average Weighted Average Weighted Average Remaining Term Bbl per Day Short Put Price per Bbl Floor Price per Bbl Ceiling Price per Bbl January – December 2017 1,000 $ 45.00 $ 60.00 $ 71.73

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Future minimum CO2 purchase commitments	Future minimum CO 2 CO 2 Year Commitments 2016 7,425 2017 2,741 Total $ 10,166

Basis of Presentation and Sum26

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Organization And Summary Of Significant Accounting Policies Disclosure [Line Items]
Impairment of proved oil and gas properties	$ 58,000	$ 220,000
Future Net Revenue from Proved Oil and Gas Reserves
Organization And Summary Of Significant Accounting Policies Disclosure [Line Items]
Discount factor	10.00%

Acquisitions and Divestitures -

Acquisitions and Divestitures - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Oct. 31, 2015	May. 31, 2015
Business Disposition [Line items]
Asset Retirement Obligation Liabilities Settled	$ 1	$ 16
Gardendale Properties
Business Disposition [Line items]
Sale of properties			$ 172,000
Purchase and sale agreement, effective date	Sep. 1, 2015
Transaction date	Dec. 22, 2015
Asset Retirement Obligation Liabilities Settled			5,600
Hilight Field
Business Disposition [Line items]
Sale of properties				$ 55,000
Purchase and sale agreement, effective date	Jul. 1, 2015
Transaction date	Oct. 6, 2015
Asset Retirement Obligation Liabilities Settled			8,100
Howard and Martin County
Business Disposition [Line items]
Sale of properties					$ 42,000
Purchase and sale agreement, effective date	Mar. 1, 2015
Transaction date	May 1, 2015
Asset Retirement Obligation Liabilities Settled			$ 1,300

Unaudited Pro Forma Financial I

Unaudited Pro Forma Financial Information on Properties Sold (Detail) - Gardendale, Hilight Field, Howard and Martin County Properties $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2015USD ($)$ / shares
Business Acquisition [Line Items]
Revenue	$ 31,057
Loss from operations	(246,562)
Net loss	$ (207,512)
Basic and diluted net loss per share | $ / shares	$ (2.79)

Weighted Average Dilutive and A

Weighted Average Dilutive and Anti-Dilutive Securities (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Potential dilutive restricted stock	2,051	2,245
Anti-dilutive securities	5,683	4,103

Computation of Basic and Dilute

Computation of Basic and Diluted Net Income (Loss) Per Share of Common Stock (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share Diluted [Line Items]
Net loss	$ (85,312)	$ (208,222)
Basic weighted average common shares outstanding	75,182	74,284
Diluted weighted average common shares outstanding	75,182	74,284
Basic and diluted net loss per common share	$ (1.13)	$ (2.80)

Long-term Debt (Detail)

Long-term Debt (Detail) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Principal	$ 528,303,000	$ 528,303,000
Unamortized premium/ (discount)	(5,494,000)	(5,990,000)
Unamortized deferred financing costs	(8,632,000)	(9,439,000)
Total long-term debt	514,177,000	512,874,000
Revolving credit facility
Debt Instrument [Line Items]
Unamortized deferred financing costs	(1,886,000)	(2,121,000)
Deferred Finance Costs, Noncurrent, Net	(1,886,000)	(2,121,000)
Secured term loan facility
Debt Instrument [Line Items]
Principal	128,303,000	128,303,000
Unamortized premium/ (discount)	(6,667,000)	(7,223,000)
Unamortized deferred financing costs	(1,913,000)	(2,136,000)
Total long-term debt	119,723,000	118,944,000
8.50% senior notes
Debt Instrument [Line Items]
Principal	400,000,000	400,000,000
Unamortized premium/ (discount)	1,173,000	1,233,000
Unamortized deferred financing costs	(4,833,000)	(5,182,000)
Total long-term debt	$ 396,340,000	$ 396,051,000

Long-term Debt (Parenthetical)

Long-term Debt (Parenthetical) (Detail)	Mar. 31, 2016	Dec. 31, 2015
8.50% senior notes
Debt Instrument [Line Items]
Debt instrument, interest rate	8.50%	8.50%

Long Term Debt - Additional Inf

Long Term Debt - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ (8,632)		$ (9,439)
Interest Expense on Long-term debt	13,100	$ 11,200
Interest expense capitalized	400	$ 4,500
Revolving credit facility
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ (1,886)		$ (2,121)

Long Term Debt - Revolving Cred

Long Term Debt - Revolving Credit Facility - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016USD ($)
Debt Instrument [Line Items]
Line of credit, borrowing base	$ 105,000,000
Borrowing base reduced	$ 3,600,000
Borrowing base adjustment period	120 days
Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Option A | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Option A | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.50%
Revolving Credit Facility and Secured Term Loan Facility
Debt Instrument [Line Items]
Secured debt to EBITDA ratio maximum	350.00%
Proved reserves to secured debt ratio, minimum	150.00%
Proved developed reserves to secured debt ratio, minimum	100.00%
Revolving Credit Facility covenant description	covenants that require, among other things, maintenance of certain ratios, measured on a quarterly basis, as follows: (i) secured debt to EBITDA of no more than 3.5 to 1.0, (ii) PV-10 of total proved reserves to total secured debt of at least 1.5 to 1.0, and (iii) PV-10 of proved developed reserves to total secured debt of at least 1.0 to 1.0. Our Revolving Credit Facility also requires us to enter into derivative agreements covering at least 70% of our anticipated production from proved developed producing properties on a rolling twenty-four month basis, but prohibits us from entering into derivative arrangements for more than (i) 85% of our anticipated production from proved properties in the subsequent two years and (ii) the greater of 75% of our anticipated production from proved properties or 85% of our production from projected proved developed producing properties after such two year period, using economic parameters specified in our Revolving Credit Facility.
Derivative agreement, percentage of anticipated production from proved properties, minimum	70.00%
Derivative agreement, percentage of anticipated production from proved properties, maximum	85.00%
Derivative agreement, percentage of anticipated production from proved properties	75.00%
Derivative agreement, percentage of projected proved developed producing reserves	85.00%
Anticipated production from proved properties period	2 years
Projected proved developed producing properties	2 years
Sixth Amendment
Debt Instrument [Line Items]
Revolving credit facility, maturity date	Mar. 31, 2018
Revolving credit facility
Debt Instrument [Line Items]
Outstanding borrowings	$ 0
Revolving credit facility interest rate terms	The London Interbank Offered Rate, plus a margin which varies from 1.50% to 2.50% (b)?the alternative Base Rate defined as the greater of (i)?the Administrative Agent?s Prime Rate (ii)?the Federal Funds effective Rate plus 0.5% or (iii)?an adjusted London Interbank Offered Rate ("LIBOR") plus a margin which ranges from 0.50% to 1.50%.
Option B, Option 3 | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Option B, Option 3 | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%

Long Term Debt - Secured Term L

Long Term Debt - Secured Term Loan Agreement - Additional Information (Detail) - USD ($) $ in Millions	May. 18, 2015	Mar. 31, 2016	Dec. 31, 2014
Debt Instrument [Line Items]
Outstanding borrowings under term loan facility			$ 150
Proceeds from issuance of term loans after payment of transaction-related fees, expenses and discounts			$ 135
Expiration period of term loan after credit facility expiration		6 months
Percentage of mandatory net cash flow from sale of assets for prepayment of term loan with out premium		75.00%
Percentage of mandatory net cash flow from sale of securities for prepayment of term loan with premium		100.00%
Term loan prepayment period from closing date		36 months
Minimum debt ratio to invested capital for repayment of term loan		125.00%
Repayment of secured term loan with proceeds		$ 70
Revolving Credit Facility and Secured Term Loan Facility
Debt Instrument [Line Items]
Secured debt to EBITDA ratio maximum		350.00%
Proved reserves to secured debt ratio, minimum		150.00%
Proved developed reserves to secured debt ratio, minimum		100.00%
Secured Term Loan Agreement
Debt Instrument [Line Items]
Description of variable rate basis		Secured Term Loan Facility will generally bear interest at adjusted LIBOR plus 10%, with a 1% LIBOR floor
Fixed interest rate on team loan facility		10.00%
Secured Term Loan Agreement | Fair Value, Inputs, Level 3
Debt Instrument [Line Items]
Long-term debt, fair value		$ 121.6
Secured Term Loan Agreement | Maximum
Debt Instrument [Line Items]
Percentage of Premium on prepayment of term loan		10.00%
Secured Term Loan Agreement | Minimum
Debt Instrument [Line Items]
Percentage of Premium on prepayment of term loan		2.00%
Secured Term Loan Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument floor rate		1.00%
Secured Term Loan Agreement | Incremental Term Loan
Debt Instrument [Line Items]
Incremental borrowings under term loan facility	$ 50
Proceeds from issuance of term loans	$ 46

Long Term Debt - Senior Notes -

Long Term Debt - Senior Notes - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2012USD ($)PrivatePlacement	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Principal amount	$ 528,303,000		$ 528,303,000
Senior Notes, redemption date	May 1, 2016
Debt Instrument Redemption Period One
Debt Instrument [Line Items]
Senior Notes, redemption price percentage of principal	100.00%
Maximum
Debt Instrument [Line Items]
Senior Notes, redemption notice period	60 days
Senior Notes
Debt Instrument [Line Items]
Principal amount		$ 400,000,000
Senior notes, due date	May 1, 2020
Debt instrument, interest rate	8.50%
Senior Notes, redemption price percentage of principal	101.00%
Senior Notes | Level 2
Debt Instrument [Line Items]
Long-term debt, fair value	$ 123,000,000
Senior Notes | Minimum
Debt Instrument [Line Items]
Senior Notes, redemption notice period	30 days
Senior Notes | Private Placement
Debt Instrument [Line Items]
Number of private placement transactions | PrivatePlacement		2

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
U.S. federal income tax rate	35.00%	35.00%
Reserve for uncertain tax positions	$ 0
Deferred tax assets, valuation allowance	$ 275,000,000

Components of Provision for Inc

Components of Provision for Income Taxes (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2015USD ($)
Income Tax Disclosure [Abstract]
Deferred income tax benefit (expense)	$ 22,354
Total income tax benefit (expense)	$ 22,354

Stockholders' Equity and Long39

Stockholders' Equity and Long-term Employee Incentive Plan - Preferred Stock - Additional Information (Detail) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0

Stockholders' Equity and Long40

Stockholders' Equity and Long-term Employee Incentive Plan - Common Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Nov. 30, 2015	Mar. 31, 2016	Dec. 31, 2015	Jul. 31, 2015
Class Of Stock [Line Items]
Common stock, shares authorized		225,000,000	225,000,000
Common stock, shares issued		77,055,646	77,210,735
Common stock, shares outstanding		77,055,646	77,210,735
Number of votes per share of common stock		One vote for each share of common stock
Common stock trading price below minimum price requirement of stock exchange		$ 1		$ 1
Trading price of common stock back up as per listing standard		$ 1
Average market capitalization below listing standard	$ 50
Number of trading days	30 days
Continued listing Period	18 months
Average market capitalization above listing standard		$ 50
Minimum
Class Of Stock [Line Items]
Average market capitalization below listing standard	$ 50

Stockholders' Equity and Long41

Stockholders' Equity and Long-term Employee Incentive Plan - Long Term Employee Incentive Plan - Additional Information (Detail)	Jun. 08, 2015shares	Feb. 29, 2016USD ($)Installment$ / sharesshares	Sep. 30, 2015Installment$ / shares	May. 31, 2015USD ($)Installment$ / shares	Mar. 31, 2016$ / sharesshares
Stock Option Awards
Class Of Stock [Line Items]
Option exercise price | $ / shares					$ 0.56
Options granted, term					10 years
Vesting period					3 years
Time-based restricted cash awards
Class Of Stock [Line Items]
Vesting period					3 years
Time-based restricted cash awards | Non-Employee Directors
Class Of Stock [Line Items]
Vesting period					1 year
Performance-based restricted cash awards
Class Of Stock [Line Items]
Options granted, term					10 years
Vesting period					3 years
Cash-Settled Stock Appreciation Rights
Class Of Stock [Line Items]
Vesting period					10 years
Cash-Settled Stock Appreciation Rights | Employees
Class Of Stock [Line Items]
Number of shares cash-settled stock appreciation rights		2,431,964
Cash-settled stock appreciation rights, base price | $ / shares		$ 0.53
Cash-Settled Stock Appreciation Rights | Non-Employee Directors
Class Of Stock [Line Items]
Number of shares cash-settled stock appreciation rights		6,082,417
Cash-settled stock appreciation rights, base price | $ / shares		$ 0.583
Long-term Employee Incentive Plan
Class Of Stock [Line Items]
Maximum number of shares of common stock to be issued under the Incentive Plan					12,257,744
Additional number of shares of common stock to be issued under the Incentive Plan	3,100,000				5,000,000
Long-term Employee Incentive Plan | Stock Option Awards
Class Of Stock [Line Items]
Number of installment for equity awards | Installment		3	3	3
Option exercise price | $ / shares			$ 0.42	$ 1.35
Options granted, term				10 years
Vesting period		10 years	10 years
Options to purchase		3,707,524
Long-term Employee Incentive Plan | Stock Option Awards | Employees
Class Of Stock [Line Items]
Option exercise price | $ / shares		$ 0.53
Options to purchase		1,677,130
Long-term Employee Incentive Plan | Stock Option Awards | Non-Employee Directors
Class Of Stock [Line Items]
Option exercise price | $ / shares		$ 0.583
Options to purchase		2,030,394
Long-term Employee Incentive Plan | Time-based restricted cash awards
Class Of Stock [Line Items]
Number of installment for equity awards | Installment		3
Unrecognized Compensation Expense | $		$ 5,329,870		$ 5,200,000
Vesting period				3 years
Long-term Employee Incentive Plan | Performance-based restricted cash awards
Class Of Stock [Line Items]
Unrecognized Compensation Expense | $				$ 2,900,000
Long-term Employee Incentive Plan | Cash-Settled Stock Appreciation Rights
Class Of Stock [Line Items]
Number of installment for equity awards | Installment		3
Vesting period		10 years
Number of shares cash-settled stock appreciation rights		8,514,381
Long-term Employee Incentive Plan | Cash-Settled Stock Appreciation Rights | Employees
Class Of Stock [Line Items]
Number of shares cash-settled stock appreciation rights		2,431,964
Cash-settled stock appreciation rights, base price | $ / shares		$ 0.53
Long-term Employee Incentive Plan | Cash-Settled Stock Appreciation Rights | Non-Employee Directors
Class Of Stock [Line Items]
Number of shares cash-settled stock appreciation rights		6,082,417
Cash-settled stock appreciation rights, base price | $ / shares		$ 0.583
Long-term Employee Incentive Plan | Non-vested restricted stock
Class Of Stock [Line Items]
Number of shares expected to vest		225,748

Expense Related to Incentive Pl

Expense Related to Incentive Plan (Detail) - Long-term Employee Incentive Plan - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Class Of Stock [Line Items]
Incentive Plan compensation expense	$ 3,101	$ 2,994
Time-based restricted stock awards
Class Of Stock [Line Items]
Incentive Plan compensation expense	1,777	2,281
TSR awards
Class Of Stock [Line Items]
Incentive Plan compensation expense	337	702
Stock appreciation awards
Class Of Stock [Line Items]
Incentive Plan compensation expense		$ 11
Stock Option Awards
Class Of Stock [Line Items]
Incentive Plan compensation expense	189
Time-based restricted cash awards
Class Of Stock [Line Items]
Incentive Plan compensation expense	649
Performance-based restricted cash awards
Class Of Stock [Line Items]
Incentive Plan compensation expense	38
Cash-settled stock appreciation awards
Class Of Stock [Line Items]
Incentive Plan compensation expense	$ 111

Unrecognized Compensation Expen

Unrecognized Compensation Expense and Weighted Average Period Related to Incentive Plan (Detail) - Long-term Employee Incentive Plan $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 7,403
Time-based restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 3,610
Weighted Average Years Remaining	9 months 18 days
TSR awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 1,325
Weighted Average Years Remaining	10 months 24 days
Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 2,468
Weighted Average Years Remaining	2 years 8 months 12 days

Stockholders' Equity and Long44

Stockholders' Equity and Long-term Employee Incentive Plan - Equity Awards - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2016$ / sharesshares	Dec. 31, 2014InstallmentEntity
Stock Option Awards
Class Of Stock [Line Items]
Vesting period	3 years
Options granted, term	10 years
Dividend yield	0.00%
Expected stock price volatility, minimum	63.00%
Expected stock price volatility, maximum	67.00%
Risk free rate, minimum	1.75%
Risk free rate, maximum	2.27%
Shares granted	3,707,524
Option exercise price | $ / shares	$ 0.56
Time-based restricted stock awards
Class Of Stock [Line Items]
Shares granted	225,748
Time-based restricted stock awards | Non-Employee Directors
Class Of Stock [Line Items]
Vesting period	1 year
Stock appreciation awards
Class Of Stock [Line Items]
Share-settled expired	0
TSR Awards
Class Of Stock [Line Items]
Estimated forfeiture rates	4.00%
Share-settled expired	276,779
Number of Peer Companies | Entity		17
Number of installment for performance-Vested Shares vest | Installment		3
TSR Awards | First Installment
Class Of Stock [Line Items]
Vesting period		1 year
TSR Awards | Second Installment
Class Of Stock [Line Items]
Vesting period		2 years
TSR Awards | Third Installment
Class Of Stock [Line Items]
Vesting period		3 years
Minimum | Stock Option Awards
Class Of Stock [Line Items]
Estimated forfeiture rates	0.00%
Minimum | Time-based restricted stock awards
Class Of Stock [Line Items]
Vesting period	3 years
Estimated forfeiture rates	0.00%
Maximum | Stock Option Awards
Class Of Stock [Line Items]
Estimated forfeiture rates	15.00%
Maximum | Time-based restricted stock awards
Class Of Stock [Line Items]
Vesting period	4 years
Estimated forfeiture rates	15.00%

Changes in Non-Vested Stock Opt

Changes in Non-Vested Stock Option Awards (Detail) - Stock Option Awards	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, beginning of period, Shares | shares	1,982,502
Granted, Shares | shares	3,707,524
Forfeited, Shares | shares	(6,972)
Non-vested, end of period, Shares | shares	5,683,054
Non-vested, beginning of period, Weighted Average Grant Date Fair Value | $ / shares	$ 0.92
Granted, Weighted Average Grant Date Fair Value | $ / shares	0.39
Forfeited, Weighted Average Grant Date Fair Value | $ / shares	0.97
Non-vested, end of period, Weighted Average Grant Date Fair Value | $ / shares	$ 0.57

Changes in Non-Vested Time Base

Changes in Non-Vested Time Based Restricted Stock Awards (Detail) - Time-based restricted stock awards	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, beginning of period, Shares | shares	1,428,974
Granted, Shares | shares	225,748
Vested, Shares | shares	(723,041)
Forfeited, Shares | shares	(6,426)
Non-vested, end of period, Shares | shares	925,255
Non-vested, beginning of period, Weighted Average Grant Date Fair Value | $ / shares	$ 8.42
Granted, Weighted Average Grant Date Fair Value | $ / shares	0.53
Vested, Weighted Average Grant Date Fair Value | $ / shares	9.83
Forfeited, Weighted Average Grant Date Fair Value | $ / shares	9.28
Non-vested, end of period, Weighted Average Grant Date Fair Value | $ / shares	$ 5.38

Changes in Non-Vested TSR Award

Changes in Non-Vested TSR Awards (Detail) - TSR awards	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, beginning of period, Shares | shares	764,598
Expired, Shares | shares	(276,779)
Non-vested, end of period, Shares | shares	487,819
Non-vested, beginning of period, Weighted Average Grant Date Fair Value | $ / shares	$ 14.26
Expired, Weighted Average Grant Date Fair Value | $ / shares	15.91
Non-vested, end of period, Weighted Average Grant Date Fair Value | $ / shares	$ 13.32

Stockholders' Equity and Long48

Stockholders' Equity and Long-term Employee Incentive Plan - Liability Awards - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Nov. 30, 2015	Feb. 29, 2016	May. 31, 2015	Mar. 31, 2016
Class Of Stock [Line Items]
Number of trading days	30 days
Cash-Settled Stock Appreciation Rights
Class Of Stock [Line Items]
Vesting period				10 years
Cash-settled stock appreciation rights, fair value		$ 3.3		$ 3
Cash-settled stock appreciation rights, fair value accrued				$ 0.1
Time-based restricted cash awards
Class Of Stock [Line Items]
Vesting period				3 years
Restricted cash award, fair value				$ 9.1
Restricted cash award, fair value accrued				$ 1.6
Time-based restricted cash awards | Minimum
Class Of Stock [Line Items]
Estimated forfeiture rates				0.00%
Time-based restricted cash awards | Maximum
Class Of Stock [Line Items]
Estimated forfeiture rates				15.00%
Performance-based restricted cash awards
Class Of Stock [Line Items]
Vesting period				3 years
Estimated forfeiture rates				5.00%
Restricted cash award, fair value				$ 0.5
Restricted cash award, fair value accrued				$ 0.3
Number of trading days				60 days
Common stock, hurdle stock price			$ 2
Restricted cash award, term				10 years
Restricted cash award, average effective term				7 years
Performance-based restricted cash awards | Maximum
Class Of Stock [Line Items]
Common stock, hurdle stock price			$ 8
Employees | Cash-Settled Stock Appreciation Rights
Class Of Stock [Line Items]
Cash-settled stock appreciation rights, base price		$ 0.53
Number of shares cash-settled stock appreciation rights		2,431,964
Non-Employee Directors | Cash-Settled Stock Appreciation Rights
Class Of Stock [Line Items]
Cash-settled stock appreciation rights, base price		$ 0.583
Number of shares cash-settled stock appreciation rights		6,082,417
Non-Employee Directors | Time-based restricted cash awards
Class Of Stock [Line Items]
Vesting period				1 year

Asset Retirement Obligation - A

Asset Retirement Obligation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016
Minimum
Asset Retirement Obligations [Line Items]
Credit-adjusted risk-free discounted rate	7.00%
Maximum
Asset Retirement Obligations [Line Items]
Credit-adjusted risk-free discounted rate	12.00%

Reconciliation of Asset Retirem

Reconciliation of Asset Retirement Obligations (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations at beginning of period	$ 19,238	$ 31,340	$ 31,340
Additional liability incurred / acquired	8
Accretion expense	437	723
Liabilities settled	(1)	(16)
Revisions to previous estimates		217
Asset retirement obligations at end of period	19,682	32,264	19,238
Less: current asset retirement obligations	(1,068)	(631)	(891)
Long-term asset retirement obligations	$ 18,614	$ 31,633	$ 18,347

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail) $ in Millions	Mar. 31, 2016USD ($)
Level 2 | Commodity Contract
Derivative [Line Items]
Fair value of commodity derivatives net asset	$ 72

Oil and Gas Commodity Contracts

Oil and Gas Commodity Contracts (Detail)	3 Months Ended
	Mar. 31, 2016bblMMBTU$ / bbl$ / MMBTU
Oil (NYMEX WTI) | April – December 2016
Derivative [Line Items]
Bbl per Day | bbl	6,538
Weighted Average Swap Price per Bbl | $ / bbl	80.21
Oil (NYMEX WTI) | January – December 2017
Derivative [Line Items]
Bbl per Day | bbl	1,032
Weighted Average Swap Price per Bbl | $ / bbl	49.18
Gas (NYMEX HH) | April – December 2016
Derivative [Line Items]
MMBtu per Day | MMBTU	4,935
Weighted Average Swap Price per MMBtu | $ / MMBTU	2.614
Gas (NYMEX HH) | January – December 2017
Derivative [Line Items]
MMBtu per Day | MMBTU	2,008
Weighted Average Swap Price per MMBtu | $ / MMBTU	2.807

Commodity Collar Contracts (Det

Commodity Collar Contracts (Detail)	Mar. 31, 2016bblMMBTU$ / bbl
Oil (NYMEX WTI) | Three-Way Commodity Collar | Commodity Contract | New Contracts | January – December 2017
Derivative [Line Items]
MMBtu / Bbl per Day | bbl	1,000
Weighted Average Floor Price	60
Weighted Average Ceiling Price	71.73
Weighted Average Short Put Price	45
July – December 2017
Derivative [Line Items]
Weighted Average Ceiling Price	64
July – December 2017 | Gas (NYMEX HH) | Two-Way Commodity Collar | Commodity Contract
Derivative [Line Items]
MMBtu / Bbl per Day | MMBTU	3,250
Weighted Average Floor Price	2.25
Weighted Average Ceiling Price	2.64

Commodity Option Contract (Deta

Commodity Option Contract (Detail) - January – December 2018 - Oil (NYMEX WTI) - Commodity Option Contract	Mar. 31, 2016bbl$ / bbl
Derivative [Line Items]
Bbl per Day | bbl	1,100
Oil (NYMEX WTI) | $ / bbl	50

Summary of Subsequent Additiona

Summary of Subsequent Additional Commodity Derivative Contracts (Detail)	3 Months Ended
	Mar. 31, 2016bbl$ / bbl
January - June 2017 | Oil (NYMEX WTI) | Commodity Swap
Derivative [Line Items]
Bbl per Day | bbl	1,000
Weighted Average Swap Price per Bbl	55.10
July – December 2017
Derivative [Line Items]
Bbl per Day | bbl	1,000
Weighted Average Floor Price per Bbl	52
Weighted Average Ceiling Price per Bbl	64

Amount of Commodity Derivative

Amount of Commodity Derivative Instrument Gains Losses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Commodity derivative settlement gain	$ 27,748	$ 24,190
Mark-to-market gain (loss)	(23,907)	720
Commodity derivative instruments gain	$ 3,841	$ 24,910

Assets and Liabilities Required

Assets and Liabilities Required to be Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Derivative instruments, current assets	$ 71,035	$ 92,431
Derivative instruments, long term assets	3,664	3,463
Liabilities
Commodity derivative instruments	120
Derivative instruments, long term liabilities	2,592
Fair Value Measurements Recurring Basis | Level 2 | Commodity
Assets
Derivative instruments, current assets	71,035	92,431
Derivative instruments, long term assets	3,664	3,463
Total assets	74,699	$ 95,894
Liabilities
Commodity derivative instruments	120
Derivative instruments, long term liabilities	2,592
Total liabilities	$ 2,712

Future Minimum COTwo Purchase C

Future Minimum COTwo Purchase Commitments (Detail) - Co2 Kinder Morgan company $ in Thousands	Mar. 31, 2016USD ($)
Recorded Unconditional Purchase Obligation [Line Items]
2,016	$ 7,425
2,017	2,741
Total	$ 10,166

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016
NNOGC
Commitment And Contingencies [Line Items]
Percentage of interest that each purchase options entitles to purchase	10.00%