Cimarex Resolute (REN) 10-Q 7 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
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		23,160,922

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 617	$ 3,762
Accounts receivable	58,577	63,420
Prepaid expenses and other current assets	2,115	1,856
Total current assets	70,737	77,875
Property and equipment, at cost:
Oil and gas properties, full cost method of accounting, Unproved	266,391	248,059
Oil and gas properties, full cost method of accounting, Proved	2,083,859	2,030,316
Other property and equipment	12,672	12,879
Accumulated depletion, depreciation and amortization	(1,759,912)	(1,737,116)
Net property and equipment	603,010	554,138
Other assets:
Other Assets	274	274
Total assets	686,274	641,922
Current liabilities:
Accounts payable	25,532	16,077
Accrued expenses	67,067	53,754
Accrued revenue payable	24,730	28,255
Accrued cash-settled incentive awards	39,541	34,317
Accrued interest payable	18,742	7,574
Commodity derivative instruments	24,735	20,822
Total current liabilities	200,347	160,799
Long term liabilities:
Revolving credit facility	37,802	27,487
Senior notes	523,462	523,240
Commodity derivative instruments	2,433	990
Other long term liabilities	3,824	3,815
Total liabilities	767,868	716,331
Commitments and contingencies
Stockholders’ deficit:
Convertible preferred stock, $0.0001 par value; 1,000,000 shares authorized; issued and outstanding 62,500 shares at March 31, 2018 and December 31, 2017; $62.5 million liquidation preference
Common stock, $0.0001 par value; 45,000,000 shares authorized; issued and outstanding 23,152,313 and 22,527,652 shares at March 31, 2018 and December 31, 2017, respectively	2	2
Additional paid-in capital	964,367	957,426
Accumulated deficit	(1,045,963)	(1,031,837)
Total stockholders’ deficit	(81,594)	(74,409)
Total liabilities and stockholders’ deficit	686,274	641,922
Contingent Payment Derivative Instrument
Current assets:
Derivative instruments current	5,671	8,311
Other assets:
Derivative instruments noncurrent	12,253	9,635
Commodity
Current assets:
Derivative instruments current	$ 3,757	$ 526

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
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	62,500	62,500
Preferred stock, outstanding	62,500	62,500
Preferred stock, liquidation preference	$ 62.5	$ 62.5
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	45,000,000	45,000,000
Common stock, issued	23,152,313	22,527,652
Common stock, outstanding	23,152,313	22,527,652

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (UNAUDITED) - USD ($) shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue:
Oil	$ 59,651,000	$ 57,659,000
Gas	6,360,000	4,352,000
Natural gas liquids	8,707,000	2,581,000
Total revenue	74,718,000	64,592,000
Operating expenses:
Lease operating	11,665,000	18,356,000
Production and ad valorem taxes	5,540,000	5,969,000
Depletion, depreciation and amortization	23,537,000	16,035,000
General and administrative	21,067,000	10,415,000
Cash-settled incentive awards	11,341,000	5,427,000
Total operating expenses	73,150,000	56,202,000
Income from operations	1,568,000	8,390,000
Other income (expense):
Interest expense, net	(7,568,000)	(17,697,000)
Commodity derivative instruments gain (loss)	(9,402,000)	10,840,000
Contingent payment derivative instrument gain	2,579,000	0
Other expense	(34,000)	(60,000)
Total other expense	(14,425,000)	(6,917,000)
Income (loss) before income taxes	(12,857,000)	1,473,000
Income tax benefit (expense)	0	0
Net income (loss)	(12,857,000)	1,473,000
Preferred stock dividends	(1,269,000)	(1,397,000)
Net income (loss) available to common stockholders	$ (14,126,000)	$ 76,000
Net loss per common share:
Basic and diluted	$ (0.64)	$ 0.01
Weighted average common shares outstanding:
Basic	22,038	21,738
Diluted	22,038	22,791

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Deficit (UNAUDITED) - 3 months ended Mar. 31, 2018 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Preferred Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning Balance at Dec. 31, 2017	$ (74,409)	$ 2		$ 957,426	$ (1,031,837)
Beginning Balance (in shares) at Dec. 31, 2017		22,528	63
Issuance of stock, restricted stock and stock-based compensation	8,850			8,850
Issuance of stock, restricted stock and stock-based compensation (in shares)		546
Redemption of restricted stock for employee income tax and restricted stock forfeitures	(2,114)			(2,114)
Redemption of restricted stock for employee income tax and restricted stock forfeitures (in shares)		(65)
Exercise of employee options to purchase common stock	205			205
Exercise of employee options to purchase common stock (in shares)		143
Preferred stock dividend	(1,269)				(1,269)
Net loss	(12,857)				(12,857)
Ending Balance at Mar. 31, 2018	$ (81,594)	$ 2		$ 964,367	$ (1,045,963)
Ending Balance (in shares) at Mar. 31, 2018		23,152	63

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities:
Net income (loss)	$ (12,857)	$ 1,473
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation and amortization	23,537	16,035
Amortization of deferred financing costs and long-term debt premium and discount	537	7,743
Stock-based compensation	8,850	2,973
Commodity derivative instruments (gain) loss	9,402	(10,840)
Commodity derivative settlement gain	(7,277)	(250)
Unrealized contingent payment derivative instrument gain	(2,579)	0
Change in operating assets and liabilities:
Accounts receivable	7,443	10,497
Other current assets	(259)	(6)
Accounts payable and accrued expenses	7,925	3,222
Accrued interest payable	11,168	8,427
Net cash provided by operating activities	45,890	39,274
Investing activities:
Oil and gas exploration and development expenditures	(57,513)	(42,298)
Proceeds from sale of oil and gas properties	2,450	14,183
Deposit for Bronco acquisition		(16,000)
Purchase of other property and equipment	(794)	(20)
Restricted cash		(737)
Other long-term assets		4
Net cash used in investing activities	(55,857)	(44,868)
Financing activities:
Proceeds from bank borrowings	67,000	73,000
Repayments of borrowings	(57,000)	(64,000)
Repayment of term loan		(128,303)
Payment of financing costs		(2,605)
Payment of preferred dividend	(1,269)	(1,397)
Redemption of restricted stock for employee income taxes	(2,114)	(3,242)
Proceeds from exercise of employee options to purchase common stock	205	93
Net cash provided by (used in) financing activities	6,822	(126,454)
Net decrease in cash and cash equivalents	(3,145)	(132,048)
Cash and cash equivalents at beginning of period	3,762	133,089
Cash and cash equivalents at end of period	$ 617	$ 1,041

Organization and Nature of Busi

Organization and Nature of Business	3 Months Ended
	Mar. 31, 2018
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 of properties in the Delaware Basin in west Texas (the “Delaware Basin Properties”). The Company closed on the sale of Aneth Field, located in the Paradox Basin in southeast Utah (the “Aneth Field Properties” or “Aneth Field”), on November 6, 2017. All 2017 periods presented include the results related to Aneth Field, prior to the disposition. 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. Its guarantees are full and unconditional and joint and several, and there are no subsidiaries of the parent company other than the Guarantors (defined below). 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, 2018
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, 2017. 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 intercompany transactions have been eliminated upon consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation. 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, 2017. 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, 2017. Effective January 1, 2018, we have adopted ASC 606, Revenue from Contracts with Customers, 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; the estimated fair value and allocation of the purchase price related to business combinations; stock-based compensation expense; cash-settled long-term incentive expense; depletion, depreciation, and amortization; accrued liabilities; and revenue and related receivables. Accounts Receivable The Company’s accounts receivable consist of the following as of the dates indicated (in thousands): March 31, 2018 December 31, 2017 Trade receivables $ 15,509 $ 18,079 Revenue receivables 36,227 43,136 Contingent payment derivative receivable 4,160 1,560 Other receivables 2,681 645 Total accounts receivable $ 58,577 $ 63,420 The Company’s accounts receivable consist mainly of receivables from oil, gas, and natural gas liquids (“NGL”) purchasers and from joint interest owners on properties the Company operates. For receivables from joint interest owners, the Company typically has the ability to withhold future revenue disbursements to recover non-payment of joint interest billings. Generally, the Company’s oil and gas receivables are due between fifteen and thirty days and are collected in less than two months, and the Company has had minimal bad debts. The Company routinely assesses the recoverability of all material trade and other receivables to determine their collectability. As of March 31, 2018 and December 31, 2017, the Company had no allowance for doubtful accounts recorded. 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 and associated production, 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 and all related income tax effects. No impairment was recorded for the three months ended March 31, 2018 and 2017. If in future periods a negative factor impacts 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 full cost ceiling impairment related to its oil and gas properties in such periods. Recent Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which clarifies the definition of a business to assist entities with evaluating when a set of transferred assets and activities is deemed to be a business. Determining whether a transferred set constitutes a business is important because the accounting for a business combination differs from that of an asset acquisition. The definition of a business also affects the accounting for dispositions. Under the new standard, when substantially all of the fair value of assets acquired is concentrated in a single asset, or a group of similar assets, the assets acquired would not represent a business and business combination accounting would not be required. Early adoption is permitted. The standard is effective for annual reporting periods beginning after December 15, 2017. The Company elected to early adopt this standard in the second quarter of 2017. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. ASC 606 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard became effective for the Company and was adopted on January 1, 2018. The Company elected the modified retrospective transition method. The adoption of this standard had no impact on the Company’s consolidated financial statements. See Note 9 for further details related to the Company’s adoption of this standard. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires lessees to present nearly all leasing arrangements on the balance sheet as liabilities along with a corresponding right-of-use asset. The ASU will replace most existing lease guidance in GAAP when it becomes effective. The new standard becomes effective for the Company on January 1, 2019. Although early application is permitted, the Company does not plan to early adopt the ASU. The standard requires the use of the modified retrospective transition method. The Company is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures. We believe that adoption of the standard will result in increases to our assets and liabilities on our consolidated balance sheet . However, we have not yet determined the extent of the adjustments that will be required upon implementation of the standard. We continue to monitor relevant industry guidance regarding the implementation of ASU 2016-02 and will adjust our implementation strategies as necessary.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisitions and Divestitures	Note 3 — Acquisitions and Divestitures Acquisition of Reeves County Properties in the Delaware Basin Delaware Basin Bronco Acquisition In May 2017 Resolute Natural Resources Southwest, LLC (“Resolute Southwest”), a wholly owned subsidiary of the Company, closed on a Purchase and Sale Agreement with CP Exploration II, LLC and Petrocap CPX, LLC pursuant to which Resolute Southwest acquired certain undeveloped and developed oil and gas properties in the Delaware Basin in Reeves County, Texas (the “Delaware Basin Bronco Acquisition”). The acquisition was accounted for as an asset acquisition, and therefore, the properties were recorded based on the fair value of the total consideration transferred on the acquisition date and transaction costs were capitalized as a component of the cost of the assets acquired. The Company acquired these properties for $161.3 million, which it financed substantially with proceeds received from the offering of $125 million of 8.50% Senior Notes due 2020 (as defined in Note 5) that closed in May 2017. The Company recorded $144.8 million of the total consideration transferred as unproved oil and gas property. The properties acquired included approximately 4,600 net acres in Reeves County, Texas, which were considered predominantly unproved, consisting of 2,187 net acres adjacent to the Company’s existing operating area in Reeves County and 2,405 net acres in southern Reeves County. Divestiture of Aneth Field In November 2017, Resolute and certain of its wholly-owned subsidiaries closed on a Purchase and Sale Agreement pursuant to which the Company sold its respective equity interests in Resolute Aneth, LLC, the entity which holds all of Resolute’s interest in Aneth Field, and certain other assets associated with Aneth Field operations, to an affiliate of Elk Petroleum Limited (the “Aneth Field Sale”). Under the terms of the Purchase and Sale Agreement, the buyer funded a performance deposit of $10 million which was creditable against the purchase price. In addition to the performance deposit, Resolute received cash consideration of $150 million at closing, subject to normal purchase price adjustments. Additionally, Resolute is entitled to receive additional cash consideration of up to $35 million if oil prices exceed certain levels in the three years after closing, as follows: buyer will pay Resolute $40,000 for each week day in the twelve months after closing that the WTI spot oil price exceeds $52.50 per barrel (up to $10 million); $50,000 for each week day in the twelve months following the first anniversary of closing that the oil price exceeds $55.00 per barrel (up to $10 million) and $60,000 for each week day in the twelve months following the second anniversary of closing that the oil price exceeds $60.00 per barrel (up to $15 million). As of closing, the fair value of the additional consideration was $16.0 million. The proceeds of the sale were used to reduce amounts outstanding under the Company’s Revolving Credit Facility (as defined in Note 5) and for other corporate purposes. Under seller accounting for contingent consideration, the Company has determined that this arrangement meets the definition of a derivative. See Note 8 – Derivative Instruments, for additional information regarding the contingent payment derivative instrument. As the sale did not significantly alter the relationship between capital costs and proved reserves, no gain or loss was recognized. In conjunction with the closing of the sale of Aneth Field, certain management members resigned from their positions effective January 1, 2018. In connection with their resignation, these individuals and the Company entered into separation agreements. The material terms of the separation agreements, including compensation payable thereunder and treatment of long-term incentive awards, are consistent with their respective employment agreements with the Company dated January 1, 2017, and various long-term incentive award agreements. Effective January 1, 2018, all awards held were modified contemporaneously with the termination of their employment. Divestiture of Southeast New Mexico Properties in the Permian Basin In February 2017 the Company closed on the sale of its Denton and South Knowles properties in the Northwest Shelf project area in Lea County, New Mexico (the “New Mexico Properties”), for approximately $14.5 million in cash, subject to customary purchase price adjustments. The proceeds of the sale were used to reduce amounts outstanding under the Company’s Revolving Credit Facility (as defined in Note 5) and for other corporate purposes. Divestiture of Midstream Assets in the Delaware Basin In 2016, in connection with the Purchase and Sale Agreement with Caprock Permian Processing LLC and Caprock Field Services LLC, as buyers (collectively, “Caprock”) of the Mustang and Appaloosa project areas in Reeve County, Texas (“Mustang” and “Appaloosa,” respectively), Resolute Southwest also entered into a definitive Earn-out Agreement (the “Earn-out Agreement”), pursuant to which Resolute Southwest will be entitled to receive certain earn-out payments based on drilling and completion activity in Appaloosa and Mustang through 2020 that will deliver gas and produced water into the system. Earn-out payments for each qualifying well will vary depending on the lateral length of the well and the year in which the well is drilled and completed. In March 2017 the Earn-out Agreement was amended by the parties to provide for an increase in earn-out payments for wells drilled and completed in 2017. Earn-out payments are contingent on future drilling, and therefore will be recognized when earned. As of March 31, 2018, we have earned $30.9 million of earn-out payments, $2.2 million of this total was earned in the first quarter 2018. In connection with the closing of the transactions contemplated by the Purchase and Sale Agreement related to the Mustang and Appaloosa project areas, Resolute Southwest entered into fifteen year commercial agreements with Caprock for gas gathering services and water handling and disposal services for all current and future gas and water produced by Resolute Southwest in Mustang and Appaloosa in exchange for customary fees based on the volume of gas and water produced and delivered. Resolute Southwest has agreed to dedicate and deliver all gas and water produced from its acreage in Mustang and Appaloosa to Caprock for gathering, processing, compression and disposal services for a term of fifteen years. In April 2017, Resolute Southwest entered into a Crude Oil Connection and Dedication Agreement with Caprock Permian Crude LLC (“Caprock Crude”), an affiliate of Caprock. Pursuant to the agreement, Caprock Crude constructed the gathering systems, pipelines and other infrastructure for the gathering of crude oil from our Mustang and Appaloosa operating areas in exchange for customary fees based on the volume of crude oil produced and delivered. Resolute Southwest has agreed to dedicate and deliver all crude oil produced from its acreage in Mustang and Appaloosa to Caprock Crude for gathering for a term through July 31, 2031, coterminous with our other commercial agreements with Caprock. For the first five years of the agreement, the crude oil will be delivered to Midland Station under a joint tariff arrangement between Caprock Crude and Plains Pipeline, L.P. In April 2017, Resolute Southwest also entered into a Crude Oil Purchase Contract with Plains Marketing, L.P. (“Plains”) providing for the sale to Plains of substantially all of the crude oil produced from the Mustang and Appaloosa areas for a price equal to an indexed market price less a $1.75 differential that will cover the joint tariff payable to Caprock Crude under the Crude Oil Connection and Dedication Agreement. Pro Forma Financial Information The unaudited pro forma financial information for the three months ended March 31, 2017 reflects Resolute’s results as if the divestiture of Aneth Field had occurred on January 1, 2017 (in thousands, except per share amounts): Three Months Ended March 31, 2017 Revenue $ 41,865 Income from operations 5,448 Net loss available to common stockholders (2,693 ) Net loss per share Basic and diluted $ (0.12 ) Weighted average common shares outstanding Basic and diluted 21,738

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2018
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. Net income (loss) available to common stockholders is computed by deducting both the dividends declared in the period on preferred stock and the dividends accumulated for the period on cumulative preferred stock from net income (loss). Potentially dilutive shares consist of the incremental shares and options issuable under the Company’s 2009 Performance Incentive Plan (the “Incentive Plan”) as well as common shares issuable upon the assumed conversion of the Convertible Preferred Stock (as defined in Note 7). 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, 2018 2017 Potential dilutive securities 3,894 3,625 Anti-dilutive securities 3,894 2,116 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, 2018 2017 Net loss available to common stockholders $ (14,126 ) $ 76 Basic weighted average common shares outstanding 22,038 21,738 Add: dilutive effect of non-vested restricted stock — 172 Add: dilutive effect of options — 881 Diluted weighted average common shares outstanding 22,038 22,791 Basic and diluted net loss per common share $ (0.64 ) $ 0.01

Long Term Debt

Long Term Debt	3 Months Ended
	Mar. 31, 2018
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, 2018 Revolving credit facility $ 40,000 $ — $ (2,198 ) $ 37,802 8.50% senior notes 525,000 2,001 (3,539 ) 523,462 Total long-term debt $ 565,000 $ 2,001 $ (5,737 ) $ 561,264 Principal Unamortized premium/ (discount) Unamortized deferred financing costs December 31, 2017 Revolving credit facility $ 30,000 $ — $ (2,513 ) $ 27,487 8.50% senior notes 525,000 2,222 (3,982 ) 523,240 Total long-term debt $ 555,000 $ 2,222 $ (6,495 ) $ 550,727 For the three months ended March 31, 2018 and 2017, the Company reported interest expense on long-term debt of $7.6 million and $17.7 million, respectively. The Company capitalized $5.3 million and $2.5 million of interest expense during the three months ended March 31, 2018 and 2017, respectively. During the three months ended March 31, 2018 and 2017, the Company paid cash for interest expense in the amount of $1.1 million and $4.0 million, respectively. Revolving Credit Facility In February 2017, the Company entered into the Third Amended and Restated Credit Agreement with a syndicate of banks led by Bank of Montreal, as Administrative Agent, Capital One, National Association, as syndication agent, and Barclays Bank PLC, ING Capital LLC and SunTrust Bank, as co-documentation agents (the “Revolving Credit Facility”). In connection with entering into the Revolving Credit Facility, the Company repaid all amounts outstanding under the Second Amended and Restated Credit Agreement, dated as of April 15, 2015, by and among Resolute Energy Corporation, as borrower, certain subsidiaries of Resolute Energy Corporation, as Guarantors (defined below), Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto, as amended, and terminated that agreement. The Revolving Credit Facility specifies a maximum borrowing base as determined by the lenders’ sole discretion. 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 February 2021, unless there is a maturity of material indebtedness prior to such date. The Revolving Credit Facility includes covenants that require, among other things, Resolute to maintain a ratio of current assets to current liabilities of no less than 1.00 to 1.00 and a ratio of funded debt to EBITDA (as defined in the Revolving Credit Facility) of no more than 4.00 to 1.00. The Revolving Credit Facility also includes customary additional terms and covenants that place limitations on certain types of activities, hedging, the payment of dividends, and that require satisfaction of certain financial tests. In March 2018, the Company entered into the Third Amendment to the Third Amended and Restated Credit Agreement. The Third Amendment , among other things, As of March 31, 2018, outstanding borrowings under the Revolving Credit Facility were $40 million with a weighted average interest rate of 4.74%, under a borrowing base of $210 million. The borrowing base availability had been reduced by $2.6 million in conjunction with letters of credit issued at March 31, 2018. 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 assets of the Company and its wholly-owned subsidiaries. Each base rate borrowing under the Revolving Credit Facility accrues interest at either (a) the London Interbank Offered Rate (“LIBOR”), plus a margin that ranges from 3.0% to 4.0% 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 that ranges from 2.0% to 3.0%. Each such margin is based on the level of utilization under the borrowing base. Secured Term Loan Agreement In December 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”). In May 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 Facility. In December 2015 the Company retired $70 million of the amount outstanding under the Secured Term Loan Facility following the sale of certain properties in the Midland Basin in accordance with mandatory prepayment provisions stipulated in the Secured Term Loan Facility. In January 2017, the Company repaid approximately $132 million constituting all amounts due under the Secured Term Loan Facility (including prepayment fees), with a portion of the proceeds from its common stock offering that closed on December 23, 2016. The Secured Term Loan Facility was terminated in connection with the repayment. Senior Notes In 2012 the Company consummated two private placements of senior notes with principal totaling $400 million (the “Original Senior Notes”). The Original Senior Notes are due May 1, 2020, and bear an annual interest rate of 8.50% with the interest on the Original Senior Notes payable semiannually in cash on May 1 and November 1 of each year. In May 2017, the Company consummated a private placement of senior notes totaling an additional $125 million aggregate principal amount of the Company’s 8.50% Senior Notes due 2020 (the “Incremental Senior Notes”), under the same Indenture as the Original Senior Notes that were previously issued (collectively referred to as the “Senior Notes”). The net proceeds of the offering of the Incremental Senior Notes, after reflecting the purchasers’ discounts and commissions, and estimated offering expenses, were approximately $125.1 million. The closing of the Incremental Senior Notes occurred on May 12, 2017. The Senior Notes were issued under an Indenture (the “Indenture”) among the Company and all of the Company’s subsidiaries, each of which is 100% owned by the Company (the “Guarantors”) in a private transaction not subject to the registration requirements of the Securities Act of 1933. In March 2013 and July 2017 the Company registered the exchange of the Original Senior Notes and the Incremental Senior Notes, respectively, with the SEC pursuant to registration statements on Form S-4 that enabled holders of the Senior Notes to exchange the privately placed Senior Notes for registered Senior Notes with substantially identical terms. All of the Original Senior Notes and Incremental Senior Notes have been exchanged for publically registered Senior Notes. 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 certain types of 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, 2018. 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 not less than 30 or more than 60 days’ prior notice, at a redemption price of 102.125%, reducing to 100.000% at May 1, 2018. 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, 2018, was estimated to be $524.7 million based upon data from independent market makers (Level 2 fair value measurement). An additional placement of Senior Notes was consummated in April 2018, see Note 10 – Subsequent Events, for a description of the notes.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
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, 2018 and 2017, differs from the amount that would be provided by applying the statutory U.S. federal income tax rate of 21% and 35%, respectively to income before income taxes. This difference relates primarily to the valuation allowance established, in addition to state income taxes and estimated permanent differences. There was no provision for income taxes during the three months ended March 31, 2018 and 2017. The Company had no reserve for uncertain tax positions as of March 31, 2018 or 2017. 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, 2018 a valuation allowance should be established against the Company's deferred tax asset. The Company recorded a valuation allowance as of March 31, 2018 and 2017 of $197.7 million and $309.7 million, respectively, on its 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, 2018
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. At March 31, 2018 and December 31, 2017, the Company had 62,500 shares of preferred stock issued and outstanding. In October 2016, the Company entered into a Purchase Agreement (the “Preferred Stock Purchase Agreement”) with BMO Capital Markets Corp. (“Initial Purchaser”), pursuant to which the Company agreed to issue and sell to Initial Purchaser 55,000 shares (the “Firm Securities”) of the Company’s 8⅛% Series B Cumulative Perpetual Convertible Preferred Stock, par value $0.0001 per share (the “Convertible Preferred Stock”) and, at Initial Purchaser’s option, up to 7,500 additional shares of Convertible Preferred Stock (together with the Firm Securities, collectively, the “Securities”). The Initial Purchaser exercised its over-allotment option to purchase the additional 7,500 shares of Convertible Preferred Stock in full, bringing the total shares of Convertible Preferred Stock purchased by Initial Purchaser to 62,500, for an aggregate net consideration of $60 million, before offering expenses. Each holder has the right at any time, at its option, to convert, any or all of such holder’s shares of Convertible Preferred Stock at an initial conversion rate of 33.8616 shares of fully paid and nonassessable shares of Common Stock, per share of Convertible Preferred Stock. Additionally, at any time on or after October 15, 2021, the Company shall have the right, at its option, to elect to cause all, and not part, of the outstanding shares of Convertible Preferred Stock to be automatically converted into that number of shares of Common Stock for each share of Convertible Preferred Stock equal to the conversion rate in effect on the mandatory conversion date as such terms are defined in the Certificate of Designation. A preferred dividend of $1.3 million was declared on March 21, 2018, and paid on April 16, 2018, to holders of record at the close of business on April 1, 2018. Common Stock The authorized common stock of the Company consists of 45,000,000 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, 2018, and December 31, 2017, the Company had 23,152,313 and 22,527,652 shares of common stock issued and outstanding, respectively. In May 2016, Resolute adopted a stockholder rights plan and in connection with such plan declared a dividend of one preferred share purchase right (a “Right”) for each outstanding share of common stock, par value $0.0001 per share. The Rights trade with, and are inseparable from, the common stock until such time as they become exercisable on the distribution date. The Rights are evidenced only by certificates that represent shares of common stock and not by separate certificates. New Rights will accompany any new shares of common stock issued after May 27, 2016, until the earlier of the distribution date and the redemption or expiration of the rights. Each Right allows its holder to purchase from the Company one one-thousandth of a share of Series A Junior Participating Preferred Stock Long Term Employee Incentive Plan The Company accounts for stock-based compensation in accordance with FASB ASC Topic 718, Stock Compensation. In July 2009, the Company adopted the 2009 Performance Incentive Plan, providing for long-term stock-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 stock-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 4,901,548 (which includes the additional 620,000 shares under Amendment No. 2 to the Incentive Plan approved by the Company’s stockholders in June 2015, the 1,000,000 shares under Amendment No. 3 to the Incentive Plan approved by the Company’s stockholders in May 2016 and the 1,450,000 shares under Amendment No. 4 to the Incentive Plan approved by the Company’s stockholders in May 2017). For the three months ended March 31, 2018 and 2017, the Company recorded expense related to the Incentive Plan as follows (in thousands): Three Months Ended March 31, 2018 2017 Time-based restricted stock awards $ 3,474 $ 1,500 TSR awards 1,712 916 Stock option awards 3,664 457 Total stock-based compensation expense 8,850 2,873 Time-based restricted cash awards 1,282 279 Performance-based restricted cash awards 808 507 Cash-settled stock appreciation awards 9,251 4,641 Total cash-based compensation expense 11,341 5,427 Total Incentive Plan compensation expense $ 20,191 $ 8,300 As of March 31, 2018, the Company holds unrecognized stock-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 $ 18,403 2.3 TSR awards 13,492 2.6 Stock option awards 328 0.7 Total unrecognized compensation expense $ 32,223 Equity Awards Equity awards consist of time-based and performance-based restricted stock and stock options under the Incentive Plan. Time-Based Restricted Stock Awards Shares of time-based restricted stock issued to employees generally vest in three 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, 2018, the Company granted 361,619 shares of time-based restricted stock to employees and 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, 2018: Weighted Average Grant Date Shares Fair Value Non-vested, beginning of period 407,487 $ 41.62 Granted 361,619 32.90 Vested (182,274 ) 43.97 Forfeited (2,386 ) 43.92 Non-vested, end of period 584,446 $ 35.48 The weighted average grant date fair value of shares granted during the three months ended March 31, 2018 and 2017 was $32.90 and $43.92, respectively. TSR Awards In February 2017 and 2018 the Board and its Compensation Committee awarded performance-based restricted shares to senior employees and 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 eleven peer companies in 2017 and fifteen companies in 2018. 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 Board and its 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 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 rates between 0% and 2% which are updated periodically based on actual employee turnover. The valuation model for TSR Awards used the following assumptions: Grant Year Average Expected Volatility Expected Dividend Yield Risk-Free Interest Rate 2017 49.07% - 108.21% 0% 0.83% - 1.45% 2018 35.19% - 197.75% 0% 1.96% - 2.31% The following table summarizes the changes in non-vested TSR Awards for the three months ended March 31, 2018: Weighted Average Grant Date Shares Fair Value Non-vested, beginning of period 130,444 $ 77.23 Granted 184,657 58.87 Vested (37,391 ) 65.90 Non-vested, end of period 277,710 $ 66.67 No outperformance shares were earned or vested during the three months ended March 31, 2018, related to the TSR awards granted in 2017. 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%. The following table summarizes the option award activity for the three months ended March 31, 2018: Weighted Weighted Average Aggregate Average Remaining Intrinsic Value Shares Exercise Price Contractual Term (in thousands) Outstanding, beginning of period 918,254 $ 3.95 Exercised (176,490 ) 3.55 Forfeited (2,589 ) 3.54 Outstanding, end of period 739,175 $ 4.04 7.6 $ 22,659 Exercisable, end of period 470,685 $ 4.03 7.6 $ 14,413 No options were granted during the three months ended March 31, 2018 or 2017. The total intrinsic value for options exercised during the three months ended March 31, 2018 and 2017 was $5.5 million and $1.4 million, respectively. Liability Awards Liability awards consist of awards that are settled in cash instead of shares, as discussed below. The fair value of those instruments at a single point in time is not a forecast of what the estimated fair value of those instruments may be in the future. As the fair value of liability awards is required to be re-measured at each period end, amounts recognized in future periods will vary. 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 $2.65 per share (as to 335,445 rights outstanding as of March 31, 2018) and $2.915 per share (as to 1,121,162 rights outstanding as of March 31, 2018). The awards granted to employees vest in three equal annual installments and have a ten-year term. The awards granted to non-employee directors vest in one year based on continued service and also have a ten-year term. The compensation expense to be recognized for the cash-settled stock appreciation rights was measured using a Black-Scholes pricing model, estimated forfeiture rates between 0% and 14% which will be updated periodically based on actual employee turnover, no dividends and expected price volatility and risk-free rates relative to the expected term. The fair value of the cash-settled stock appreciation rights as of March 31, 2018, was $48.1 million, of which $38.6 million has been expensed. 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 based on the cash value per unit ($1 per unit) on the date of grant and utilized estimated forfeiture rates between 0% and 23% 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, 2018, was $9.6 million, of which $7.6 million has been expensed. 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 was at $10.00 at which the award was payable at 1x, and the highest stock price hurdle was $40.00 at which the award was payable at a multiple of 6x. Interim hurdles and multiples between these end points are set forth in the governing agreements. As of March 31, 2018, all of the stock price hurdles up to $40.00 had previously been met. A time vesting element will apply to the performance-vested cash awards such that attained multiples will not be paid out earlier than upon satisfaction of a three-year vesting timetable from the date of grant. In order for an award to be paid, both the performance criteria and the time criteria would need to be satisfied. Once a time vesting date passes, the employee is entitled to be paid one third, two thirds or 100%, as applicable, of whatever multiples have been achieved provided the employee continues to be employed by the Company. The final payment of performance-based restricted cash will be in May 2018. The estimated fair value of the performance-based restricted cash awards as of March 31, 2018 was $15.8 million of which $15.7 million has been expensed, based upon the three-year vesting. The fair value was estimated using Black-Scholes option pricing model for a cash or nothing call, an estimated forfeiture rate of 4%, an average effective term of less than one year, no dividends and expected price volatility and risk-free rates relative to the expected term.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 8 — Derivative Instruments Commodity 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 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 two put option strike prices. 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, are used to fix the price differential between the NYMEX commodity price and the index price at which the production is sold. As of March 31, 2018, the fair value of the Company’s commodity derivatives was a net liability of $23.4 million (Level 2 fair value measurement). The following table represents Resolute’s commodity swap contracts as of March 31, 2018: 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 Apr – Dec 2018 3,484 $ 50.95 20,000 $ 2.77 The following table represents Resolute’s two-way commodity collar contracts as of March 31, 2018: Oil (NYMEX WTI) Remaining Term Bbl per Day Weighted Average Floor Price per Bbl Weighted Average Ceiling Price per Bbl Apr – Dec 2018 1,669 $ 58.00 $ 63.97 The following table represents Resolute’s three-way oil collar contracts as of March 31, 2018: Oil (NYMEX WTI) Remaining Term Bbl per Day Weighted Average Short Put Price per Bbl Weighted Average Floor Price per Bbl Weighted Average Ceiling Price per Bbl Apr – Dec 2018 3,335 $ 40.10 $ 49.35 $ 54.29 The following table represents Resolute’s commodity option contracts as of March 31, 2018: Oil (NYMEX WTI) Remaining Term Bbl per Day Sold Call Price Apr – Dec 2018 856 $ 55.00 Jan – Dec 2019 2,430 $ 64.03 The following table represents Resolute’s basis swap contract as of March 31, 2018: Gas (Permian Basin El Paso) Remaining Term MMBtu per Day Weighted Average Price Differential per MMBtu Apr – Dec 2018 18,000 $ 0.69 Subsequent to March 31, 2018, Resolute entered into additional commodity option contracts as summarized below: Oil (NYMEX WTI) Remaining Term Bbl per Day Sold Call Price Jan – Dec 2019 1,240 $ 65.00 Subsequent to March 31, 2018, Resolute entered into additional basis swap contracts as summarized below: Oil (Midland Argus) Remaining Term Bbl per Day Weighted Average Price Differential per Bbl Jun – Dec 2018 4,167 $ 5.67 The table below summarizes the location and amount of commodity derivative instrument gains and losses reported in the condensed consolidated statements of operations (in thousands): Three Months Ended March 31, 2018 2017 Other income (expense): Commodity derivative settlement loss $ (7,277 ) $ (250 ) Mark-to-market gain (loss) (2,125 ) 11,090 Commodity derivative instruments gain (loss) $ (9,402 ) $ 10,840 Contingent Payment Derivative Instrument In conjunction with the Aneth Field Sale in November 2017, Resolute is entitled to receive additional cash consideration of up to $35 million if index pricing targets, as defined in the Purchase and Sale Agreement, are achieved at specified future dates (see Note 3). The contingent consideration will be paid yearly if the pricing exceeds the thresholds pursuant to the Purchase and Sale Agreement. We have evaluated the contract and concluded that it meets the definition and requirements for accounting treatment as a derivative instrument. As of March 31, 2018, the fair value of the additional consideration was $17.9 million. Fair value is determined through an application of mathematical models and Monte Carlo simulations designed to provide fair value estimates utilizing probability measures and the relevant market index measures. The fair value will be adjusted at each future reporting period over the life of the instrument. Changes in the fair value are included as a component of contingent payment derivative instrument gain (loss) on our consolidated statements of operations. See below for the location and fair value amounts of Resolute’s contingent payment derivative instrument reported in the consolidated balance sheet at March 31, 2018. The amount earned to date and included in accounts receivable is $4.2 million. Credit Risk in Derivative Instruments Resolute is exposed to credit risk to the extent of nonperformance by the counterparties in the derivative contracts discussed above. All commodity derivative counterparties are current lenders under Resolute’s Revolving Credit Facility. Accordingly, Resolute is not required to provide any credit support to its commodity derivative counterparties other than cross collateralization with the properties securing the Revolving Credit Facility. Resolute’s commodity 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 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 commodity derivative contract liabilities. Resolute is exposed to credit risk to the extent of nonperformance by the buyer with respect to the contingent payment derivative discussed above. The buyer is contractually obligated to pay Resolute the earned contingent payments pursuant to the Purchase and Sale Agreement. 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 and contingent payment 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, 2018, and December 31, 2017 (in thousands): Level 2 March 31, 2018 December 31, 2017 Assets Commodity derivative instruments, current $ 3,757 $ 526 Contingent payment derivative instruments, current $ 5,671 $ 8,311 Contingent payment derivative instruments, long term 12,253 9,635 Total assets $ 21,681 $ 18,472 Liabilities Commodity derivative instruments, current $ 24,735 $ 20,822 Commodity derivative instruments, long term 2,433 990 Total liabilities $ 27,168 $ 21,812 As all of the commodity derivative contracts by counterparty were in a net liability position as of March 31, 2018, the maximum amount of loss in the event of all counterparties defaulting was $0.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Revenue	Note 9 —Revenue ASC 606, Revenue from Contracts with Customers Adoption The Company adopted ASC 606 as of January 1, 2018, utilizing the modified retrospective approach. The new revenue standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle of the guidance is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance in the new standard supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. The adoption of this standard had no impact on the Company’s consolidated financial statements. Revenue Recognition Revenues from the sales of oil, gas and NGL are recognized when performance obligations are satisfied at the point control of the product is transferred to the customer, we have no further obligations to perform, the transaction price has been determined and collectability is reasonably assured. Payment is generally received in one to two months, depending on the product, after the sale has occurred. All of our contracts’ pricing provisions are tied to a market index, with certain adjustments based on, among other factors, basis or pricing differentials Oil Sales We deliver oil to the purchaser at a contractually agreed-upon delivery point at which the purchaser takes custody, title, and risk of loss of the product. We recognize revenue when control transfers to the purchaser at the delivery point based on the contract specified price. Gas and NGL Sales We deliver gas and NGL contained within the gas which are extracted through processing the gas to a purchaser at the contract specified delivery point. The gas is transported from the wellhead to the delivery point specified in the contract. The gathering, compression and transportation charges related to moving the gas from the wellhead to the delivery point are recorded as Lease Operating Expenses in the Consolidated Statement of Operations. Once control is transferred at the delivery point, revenue is recognized based on the contract specified price. The purchaser processes the gas and remits proceeds to us for the resulting residue gas and NGL for the value of the residue gas and NGL at current market prices for each product as specified in the associated contract. We recognize gas and NGL revenue based on the amount of the proceeds received from the purchaser, which is net of any required fees associated with processing the gas and extracting the NGL. Disaggregation of Revenue In the following table, revenue is disaggregated by type (in thousands) and by geographic area/basin. Three Months Ended March 31, Three Months Ended March 31, 2018 2017 Permian Basin Paradox Basin Total Permian Basin Paradox Basin Total Revenue: Oil $ 59,651 — $ 59,651 $ 34,569 $ 23,090 $ 57,659 Gas 6,360 — 6,360 4,081 271 4,352 Natural gas liquids 8,707 — 8,707 2,581 — 2,581 Total revenue all products $ 74,718 — $ 74,718 $ 41,231 $ 23,361 $ 64,592 Transaction price allocated to remaining performance obligations For our product sales that have a contract term greater than one year, we have utilized the practical expedient in ASC 606 which states the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under these sales contracts, each unit of product generally represents a separate performance obligation; therefore future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. For our product sales that have a contract term of one year or less, we have utilized the practical expedient in ASC 606, which states that a company is not required to disclose the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. Contract balances Under our product sales contracts, we invoice customers once our performance obligations have been satisfied, at which point payment is unconditional. Accordingly, our product sales contracts do not give rise to contract assets or liabilities under ASC 606. At March 31, 2018 and December 31, 2017, our receivables from contracts with customers were $36.2 million and $43.1 million, respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 10 — Subsequent Events In April 2018, we consummated a private placement of senior notes totaling $75 million aggregate principal amount of the Company’s 8.50% Senior Notes due 2020 (the “Second Incremental Senior Notes”). The Second Incremental Senior Notes constituted an additional issuance of notes under the same Indenture as the Senior Notes that were previously issued. The net proceeds of the offering of the Second Incremental Senior Notes, after reflecting the purchasers’ discounts and commissions, and estimated offering expenses, were approximately $74 million. The closing of the Second Incremental Senior Notes occurred on April 9, 2018.

Basis of Presentation and Sum17

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
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, 2017. 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 intercompany transactions have been eliminated upon consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation. 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, 2017. 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, 2017. Effective January 1, 2018, we have adopted ASC 606, Revenue from Contracts with Customers,
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; the estimated fair value and allocation of the purchase price related to business combinations; stock-based compensation expense; cash-settled long-term incentive expense; depletion, depreciation, and amortization; accrued liabilities; and revenue and related receivables.
Accounts Receivable	Accounts Receivable The Company’s accounts receivable consist of the following as of the dates indicated (in thousands): March 31, 2018 December 31, 2017 Trade receivables $ 15,509 $ 18,079 Revenue receivables 36,227 43,136 Contingent payment derivative receivable 4,160 1,560 Other receivables 2,681 645 Total accounts receivable $ 58,577 $ 63,420 The Company’s accounts receivable consist mainly of receivables from oil, gas, and natural gas liquids (“NGL”) purchasers and from joint interest owners on properties the Company operates. For receivables from joint interest owners, the Company typically has the ability to withhold future revenue disbursements to recover non-payment of joint interest billings. Generally, the Company’s oil and gas receivables are due between fifteen and thirty days and are collected in less than two months, and the Company has had minimal bad debts. The Company routinely assesses the recoverability of all material trade and other receivables to determine their collectability. As of March 31, 2018 and December 31, 2017, the Company had no allowance for doubtful accounts recorded.
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 and associated production, 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 and all related income tax effects. No impairment was recorded for the three months ended March 31, 2018 and 2017. If in future periods a negative factor impacts 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 full cost ceiling impairment related to its oil and gas properties in such periods.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which clarifies the definition of a business to assist entities with evaluating when a set of transferred assets and activities is deemed to be a business. Determining whether a transferred set constitutes a business is important because the accounting for a business combination differs from that of an asset acquisition. The definition of a business also affects the accounting for dispositions. Under the new standard, when substantially all of the fair value of assets acquired is concentrated in a single asset, or a group of similar assets, the assets acquired would not represent a business and business combination accounting would not be required. Early adoption is permitted. The standard is effective for annual reporting periods beginning after December 15, 2017. The Company elected to early adopt this standard in the second quarter of 2017. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. ASC 606 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard became effective for the Company and was adopted on January 1, 2018. The Company elected the modified retrospective transition method. The adoption of this standard had no impact on the Company’s consolidated financial statements. See Note 9 for further details related to the Company’s adoption of this standard. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires lessees to present nearly all leasing arrangements on the balance sheet as liabilities along with a corresponding right-of-use asset. The ASU will replace most existing lease guidance in GAAP when it becomes effective. The new standard becomes effective for the Company on January 1, 2019. Although early application is permitted, the Company does not plan to early adopt the ASU. The standard requires the use of the modified retrospective transition method. The Company is evaluating the effect that ASU 2016-02 will have on its consolidated financial statements and related disclosures. We believe that adoption of the standard will result in increases to our assets and liabilities on our consolidated balance sheet . However, we have not yet determined the extent of the adjustments that will be required upon implementation of the standard. We continue to monitor relevant industry guidance regarding the implementation of ASU 2016-02 and will adjust our implementation strategies as necessary.

Basis of Presentation and Sum18

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Accounts Receivable	The Company’s accounts receivable consist of the following as of the dates indicated (in thousands): March 31, 2018 December 31, 2017 Trade receivables $ 15,509 $ 18,079 Revenue receivables 36,227 43,136 Contingent payment derivative receivable 4,160 1,560 Other receivables 2,681 645 Total accounts receivable $ 58,577 $ 63,420

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Unaudited Pro Forma Financial Information on Properties Sold	The unaudited pro forma financial information for the three months ended March 31, 2017 reflects Resolute’s results as if the divestiture of Aneth Field had occurred on January 1, 2017 (in thousands, except per share amounts): Three Months Ended March 31, 2017 Revenue $ 41,865 Income from operations 5,448 Net loss available to common stockholders (2,693 ) Net loss per share Basic and diluted $ (0.12 ) Weighted average common shares outstanding Basic and diluted 21,738

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 2017 Potential dilutive securities 3,894 3,625 Anti-dilutive securities 3,894 2,116
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, 2018 2017 Net loss available to common stockholders $ (14,126 ) $ 76 Basic weighted average common shares outstanding 22,038 21,738 Add: dilutive effect of non-vested restricted stock — 172 Add: dilutive effect of options — 881 Diluted weighted average common shares outstanding 22,038 22,791 Basic and diluted net loss per common share $ (0.64 ) $ 0.01

Long Term Debt (Tables)

Long Term Debt (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 Revolving credit facility $ 40,000 $ — $ (2,198 ) $ 37,802 8.50% senior notes 525,000 2,001 (3,539 ) 523,462 Total long-term debt $ 565,000 $ 2,001 $ (5,737 ) $ 561,264 Principal Unamortized premium/ (discount) Unamortized deferred financing costs December 31, 2017 Revolving credit facility $ 30,000 $ — $ (2,513 ) $ 27,487 8.50% senior notes 525,000 2,222 (3,982 ) 523,240 Total long-term debt $ 555,000 $ 2,222 $ (6,495 ) $ 550,727

Stockholders' Equity and Long22

Stockholders' Equity and Long-term Employee Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2018
Expense Related to Incentive Plan	For the three months ended March 31, 2018 and 2017, the Company recorded expense related to the Incentive Plan as follows (in thousands): Three Months Ended March 31, 2018 2017 Time-based restricted stock awards $ 3,474 $ 1,500 TSR awards 1,712 916 Stock option awards 3,664 457 Total stock-based compensation expense 8,850 2,873 Time-based restricted cash awards 1,282 279 Performance-based restricted cash awards 808 507 Cash-settled stock appreciation awards 9,251 4,641 Total cash-based compensation expense 11,341 5,427 Total Incentive Plan compensation expense $ 20,191 $ 8,300
Unrecognized Compensation Expense and Weighted Average Period Related to Incentive Plan	As of March 31, 2018, the Company holds unrecognized stock-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 $ 18,403 2.3 TSR awards 13,492 2.6 Stock option awards 328 0.7 Total unrecognized compensation expense $ 32,223
Valuation Model for TSR Awards	The valuation model for TSR Awards used the following assumptions: Grant Year Average Expected Volatility Expected Dividend Yield Risk-Free Interest Rate 2017 49.07% - 108.21% 0% 0.83% - 1.45% 2018 35.19% - 197.75% 0% 1.96% - 2.31%
Option Award Activity	The following table summarizes the option award activity for the three months ended March 31, 2018: Weighted Weighted Average Aggregate Average Remaining Intrinsic Value Shares Exercise Price Contractual Term (in thousands) Outstanding, beginning of period 918,254 $ 3.95 Exercised (176,490 ) 3.55 Forfeited (2,589 ) 3.54 Outstanding, end of period 739,175 $ 4.04 7.6 $ 22,659 Exercisable, end of period 470,685 $ 4.03 7.6 $ 14,413
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, 2018: Weighted Average Grant Date Shares Fair Value Non-vested, beginning of period 407,487 $ 41.62 Granted 361,619 32.90 Vested (182,274 ) 43.97 Forfeited (2,386 ) 43.92 Non-vested, end of period 584,446 $ 35.48
TSR awards
Changes in Non-Vested Awards	The following table summarizes the changes in non-vested TSR Awards for the three months ended March 31, 2018: Weighted Average Grant Date Shares Fair Value Non-vested, beginning of period 130,444 $ 77.23 Granted 184,657 58.87 Vested (37,391 ) 65.90 Non-vested, end of period 277,710 $ 66.67

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative [Line Items]
Commodity Contracts and Swaps	The following table represents Resolute’s commodity option contracts as of March 31, 2018: Oil (NYMEX WTI) Remaining Term Bbl per Day Sold Call Price Apr – Dec 2018 856 $ 55.00 Jan – Dec 2019 2,430 $ 64.03 Subsequent to March 31, 2018, Resolute entered into additional commodity option contracts as summarized below: Oil (NYMEX WTI) Remaining Term Bbl per Day Sold Call Price Jan – Dec 2019 1,240 $ 65.00
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 condensed consolidated statements of operations (in thousands): Three Months Ended March 31, 2018 2017 Other income (expense): Commodity derivative settlement loss $ (7,277 ) $ (250 ) Mark-to-market gain (loss) (2,125 ) 11,090 Commodity derivative instruments gain (loss) $ (9,402 ) $ 10,840
Assets and Liabilities Required to be Measured at Fair Value on Recurring Basis	The following is a listing of Resolute’s commodity and contingent payment 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, 2018, and December 31, 2017 (in thousands): Level 2 March 31, 2018 December 31, 2017 Assets Commodity derivative instruments, current $ 3,757 $ 526 Contingent payment derivative instruments, current $ 5,671 $ 8,311 Contingent payment derivative instruments, long term 12,253 9,635 Total assets $ 21,681 $ 18,472 Liabilities Commodity derivative instruments, current $ 24,735 $ 20,822 Commodity derivative instruments, long term 2,433 990 Total liabilities $ 27,168 $ 21,812
Two Way Commodity Collar Contract
Derivative [Line Items]
Commodity Contracts and Swaps	The following table represents Resolute’s two-way commodity collar contracts as of March 31, 2018: Oil (NYMEX WTI) Remaining Term Bbl per Day Weighted Average Floor Price per Bbl Weighted Average Ceiling Price per Bbl Apr – Dec 2018 1,669 $ 58.00 $ 63.97
Three-Way Oil Collar
Derivative [Line Items]
Commodity Contracts and Swaps	The following table represents Resolute’s three-way oil collar contracts as of March 31, 2018: Oil (NYMEX WTI) Remaining Term Bbl per Day Weighted Average Short Put Price per Bbl Weighted Average Floor Price per Bbl Weighted Average Ceiling Price per Bbl Apr – Dec 2018 3,335 $ 40.10 $ 49.35 $ 54.29
Commodity Swap Contracts
Derivative [Line Items]
Commodity Contracts and Swaps	The following table represents Resolute’s commodity swap contracts as of March 31, 2018: 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 Apr – Dec 2018 3,484 $ 50.95 20,000 $ 2.77
Basis Swap Contract
Derivative [Line Items]
Commodity Contracts and Swaps	The following table represents Resolute’s basis swap contract as of March 31, 2018: Gas (Permian Basin El Paso) Remaining Term MMBtu per Day Weighted Average Price Differential per MMBtu Apr – Dec 2018 18,000 $ 0.69 Subsequent to March 31, 2018, Resolute entered into additional basis swap contracts as summarized below: Oil (Midland Argus) Remaining Term Bbl per Day Weighted Average Price Differential per Bbl Jun – Dec 2018 4,167 $ 5.67

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Schedule of Revenue Disaggregated by Type and Geographical Area/Basin	In the following table, revenue is disaggregated by type (in thousands) and by geographic area/basin. Three Months Ended March 31, Three Months Ended March 31, 2018 2017 Permian Basin Paradox Basin Total Permian Basin Paradox Basin Total Revenue: Oil $ 59,651 — $ 59,651 $ 34,569 $ 23,090 $ 57,659 Gas 6,360 — 6,360 4,081 271 4,352 Natural gas liquids 8,707 — 8,707 2,581 — 2,581 Total revenue all products $ 74,718 — $ 74,718 $ 41,231 $ 23,361 $ 64,592

Accounts Receivable (Detail)

Accounts Receivable (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Trade receivables	$ 15,509	$ 18,079
Revenue receivables	36,227	43,136
Contingent payment derivative receivable	4,160	1,560
Other receivables	2,681	645
Total accounts receivable	$ 58,577	$ 63,420

Basis of Presentation and Sum26

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Organization And Summary Of Significant Accounting Policies Disclosure [Line Items]
Allowance for doubtful accounts	$ 0		$ 0
Impairments of proved oil and gas properties	$ 0	$ 0
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)	1 Months Ended		3 Months Ended
	Nov. 30, 2017USD ($)	May 31, 2017USD ($)a	Mar. 31, 2018USD ($)	Dec. 31, 2017	Apr. 02, 2017$ / bbl	Feb. 28, 2017USD ($)
Business Acquisitions And Divestitures [Line Items]
Differential to indexed market price that will cover joint tariff payable | $ / bbl					1.75
Divestiture of Aneth Field
Business Acquisitions And Divestitures [Line Items]
Buyer funded performance deposit	$ 10,000,000
Cash consideration received	150,000,000
Fair value of the additional consideration	16,000,000
Recognized gain (loss) on sale	0
Denton and South Knowles
Business Acquisitions And Divestitures [Line Items]
Sale of properties						$ 14,500,000
Appaloosa And Mustang Agreement
Business Acquisitions And Divestitures [Line Items]
Cash consideration received			$ 2,200,000
Earn-out payment earned			$ 30,900,000
Period of agreement			15 years
Maximum | Divestiture of Aneth Field
Business Acquisitions And Divestitures [Line Items]
Receive additional cash consideration upon condition	35,000,000
Maximum | Divestiture of Aneth Field | Forty Thousand Per Week If Oil Price Exceeds Fifty Two Dollar And Fifty Cents Per Barrel
Business Acquisitions And Divestitures [Line Items]
Receive additional cash consideration upon condition	10,000,000
Maximum | Divestiture of Aneth Field | Fifty Thousand Per Week If Oil Price Exceeds Fifty Dollar Per Barrel
Business Acquisitions And Divestitures [Line Items]
Receive additional cash consideration upon condition	10,000,000
Maximum | Divestiture of Aneth Field | Sixty Thousand Per Week If Oil Price Exceeds Sixty Dollar Per Barrel
Business Acquisitions And Divestitures [Line Items]
Receive additional cash consideration upon condition	$ 15,000,000
Delaware Basin Bronco Acquisition
Business Acquisitions And Divestitures [Line Items]
Purchase agreement purchase price of properties		$ 161,300,000
Oil and gas properties		144,800,000
8.50% senior notes
Business Acquisitions And Divestitures [Line Items]
Principal amount		$ 125,000,000	$ 400,000,000
Debt instrument, interest rate		8.50%	8.50%	8.50%
Debt instrument, maturity date			May 1, 2020
Purchase and Sale Agreement | Texas
Business Acquisitions And Divestitures [Line Items]
Area of properties acquired, net | a		4,600
Purchase and Sale Agreement | Reeves County, Texas
Business Acquisitions And Divestitures [Line Items]
Area of properties acquired, net | a		2,187
Purchase and Sale Agreement | Southern Reeves County
Business Acquisitions And Divestitures [Line Items]
Area of properties acquired, net | a		2,405
Purchase and Sale Agreement | Delaware Basin Bronco Acquisition
Business Acquisitions And Divestitures [Line Items]
Transaction date			May 31, 2017

Unaudited Pro Forma Financial I

Unaudited Pro Forma Financial Information on Properties Sold (Detail) - Divestiture of Aneth Field $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Business Acquisition [Line Items]
Revenue	$ 41,865
Income from operations	5,448
Net loss available to common stockholders	$ (2,693)
Net loss per share
Basic and diluted | $ / shares	$ (0.12)
Weighted average common shares outstanding
Basic and diluted | shares	21,738

Weighted Average Dilutive and A

Weighted Average Dilutive and Anti-Dilutive Securities (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Potential dilutive securities	3,894	3,625
Anti-dilutive securities	3,894	2,116

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, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net loss available to common stockholders	$ (14,126)	$ 76
Basic weighted average common shares outstanding	22,038	21,738
Add: dilutive effect of non-vested restricted stock		172
Add: dilutive effect of options		881
Diluted weighted average common shares outstanding	22,038	22,791
Basic and diluted net loss per common share	$ (0.64)	$ 0.01

Long-term Debt (Detail)

Long-term Debt (Detail) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Principal	$ 565,000,000	$ 555,000,000
Unamortized premium/ (discount)	2,001,000	2,222,000
Unamortized deferred financing costs	(5,737,000)	(6,495,000)
Total long-term debt	561,264,000	550,727,000
Revolving credit facility
Debt Instrument [Line Items]
Principal	40,000,000	30,000,000
Unamortized deferred financing costs	(2,198,000)	(2,513,000)
Total long-term debt	37,802,000	27,487,000
8.50% senior notes
Debt Instrument [Line Items]
Principal	525,000,000	525,000,000
Unamortized premium/ (discount)	2,001,000	2,222,000
Unamortized deferred financing costs	(3,539,000)	(3,982,000)
Total long-term debt	$ 523,462,000	$ 523,240,000

Long-term Debt (Parenthetical)

Long-term Debt (Parenthetical) (Detail)	Mar. 31, 2018	Dec. 31, 2017	May 31, 2017
8.50% senior notes
Debt Instrument [Line Items]
Debt instrument, interest rate	8.50%	8.50%	8.50%

Long Term Debt - Additional Inf

Long Term Debt - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Debt Disclosure [Abstract]
Interest Expense on Long-term debt	$ 7.6	$ 17.7
Interest expense capitalized	5.3	2.5
Cash paid for interest expense	$ 1.1	$ 4

Long Term Debt - Revolving Cred

Long Term Debt - Revolving Credit Facility - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 17, 2017	Mar. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Revolving credit facility		$ 37,802	$ 37,802	$ 27,487
Borrowing base adjustment period			120 days
Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.50%
Minimum [Member] | Option A | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			3.00%
Maximum | Option A | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			4.00%
Third Amendment
Debt Instrument [Line Items]
Revolving credit facility, maturity date	Feb. 28, 2021
Revolving credit facility
Debt Instrument [Line Items]
Current assets to current liabilities ratio			100.00%
Secured debt to EBITDA ratio maximum			400.00%
Revolving Credit Facility covenant description			covenants that require, among other things, Resolute to maintain a ratio of current assets to current liabilities of no less than 1.00 to 1.00 and a ratio of funded debt to EBITDA (as defined in the Revolving Credit Facility) of no more than 4.00 to 1.00. The Revolving Credit Facility also includes customary additional terms and covenants that place limitations on certain types of activities, hedging, the payment of dividends, and that require satisfaction of certain financial tests.
Percentage of increase in applicable rate upon exceeding maximum secured debt instrument to EBITDA ratio		0.25%
Line of credit, borrowing base		$ 210,000	$ 210,000
Revolving credit facility		$ 40,000	$ 40,000
Weighted average interest rate		4.74%	4.74%
Line of credit facility reduction in borrowing capacity		$ 2,600	$ 2,600
Revolving credit facility interest rate terms			The London Interbank Offered Rate (“LIBOR”), plus a margin that ranges from 3.0% to 4.0% 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 that ranges from 2.0% to 3.0%.
Revolving credit facility | Fiscal quarter ending March 31, 2018
Debt Instrument [Line Items]
Secured debt to EBITDA ratio maximum		400.00%
Revolving credit facility | Fiscal quarter ending June 30, 2018
Debt Instrument [Line Items]
Secured debt to EBITDA ratio maximum		425.00%
Revolving credit facility | Fiscal quarters ending thereafter
Debt Instrument [Line Items]
Secured debt to EBITDA ratio maximum		400.00%
Revolving credit facility | In Excess Of Six Hundred Million Dollar
Debt Instrument [Line Items]
Percentage of borrowing base reduction in unsecured indebtedness		25.00%	25.00%
Option B | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.00%
Option B | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			3.00%

Long Term Debt - Secured Term L

Long Term Debt - Secured Term Loan Agreement - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2017	Mar. 31, 2017	Dec. 31, 2015	May 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Outstanding borrowings under term loan facility					$ 150,000
Repayment of secured term loan with proceeds			$ 70,000
Repayments of debt		$ 128,303
Secured Term Loan Agreement
Debt Instrument [Line Items]
Repayments of debt	$ 132,000
Secured Term Loan Agreement | Incremental Term Loan
Debt Instrument [Line Items]
Incremental borrowings under term loan facility				$ 50,000

Long Term Debt - Senior Notes -

Long Term Debt - Senior Notes - Additional Information (Detail) $ in Millions	May 01, 2018	May 31, 2017USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2012PrivatePlacement	Dec. 31, 2017
Maximum
Debt Instrument [Line Items]
Senior Notes, redemption notice period			60 days
Guarantor Subsidiaries
Debt Instrument [Line Items]
Ownership interest in subsidiaries by the company			100.00%
Senior Notes
Debt Instrument [Line Items]
Principal amount		$ 125	$ 400
Debt instrument, maturity date			May 1, 2020
Debt instrument, interest rate		8.50%	8.50%		8.50%
Net proceeds from offering of Incremental Senior Notes		$ 125.1
Senior Notes, redemption price percentage of principal	100.00%		102.125%
Senior Notes | Level 2
Debt Instrument [Line Items]
Long-term debt, fair value			$ 524.7
Senior Notes | Change of Control
Debt Instrument [Line Items]
Senior Notes, redemption price percentage of principal			101.00%
Senior Notes | Minimum [Member]
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, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
U.S. federal income tax rate	21.00%	35.00%
Provision for income taxes	$ 0	$ 0
Reserve for uncertain tax positions	0	0
Deferred tax assets, valuation allowance	$ 197,700,000	$ 309,700,000

Stockholders' Equity and Long38

Stockholders' Equity and Long-term Employee Incentive Plan - Preferred Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Oct. 31, 2016	Mar. 31, 2018	Dec. 31, 2017
Class Of Stock [Line Items]
Preferred stock, shares authorized		1,000,000	1,000,000
Preferred stock, par value		$ 0.0001	$ 0.0001
Preferred stock, issued		62,500	62,500
Preferred stock, outstanding		62,500	62,500
Preferred Stock Purchase Agreement | BMO Capital Markets Corp. | 8.125% Series B Cumulative Perpetual Convertible Preferred Stock
Class Of Stock [Line Items]
Preferred stock, par value	$ 0.0001
Preferred stock to be issued and sold	55,000
Preferred stock, dividend rate	8.125%
Initial Purchaser option to purchase additional shares	7,500
Total shares of Convertible Preferred Stock purchased by Initial Purchaser	62,500
Total shares of Convertible Preferred Stock purchased by Initial Purchaser, aggregate net consideration, before offering expenses	$ 60
Convertible Preferred Stock, conversion rate	33.8616
Convertible preferred stock conversion terms		At any time on or after October 15, 2021, the Company shall have the right, at its option, to elect to cause all, and not part, of the outstanding shares of Convertible Preferred Stock to be automatically converted into that number of shares of Common Stock for each share of Convertible Preferred Stock equal to the conversion rate in effect on the mandatory conversion date as such terms are defined in the Certificate of Designation.
Preferred dividends payable		$ 1.3
Date of dividends declared		Mar. 21, 2018
Date dividends paid		Apr. 16, 2018
Record date of dividends paid to holders		Apr. 1, 2018
Preferred Stock Purchase Agreement | BMO Capital Markets Corp. | 8.125% Series B Cumulative Perpetual Convertible Preferred Stock | Over-Allotment Option
Class Of Stock [Line Items]
Number of additional shares purchased by Initial Purchaser	7,500

Stockholders' Equity and Long39

Stockholders' Equity and Long-term Employee Incentive Plan - Common Stock - Additional Information (Detail) - $ / shares	1 Months Ended	3 Months Ended
	May 31, 2016	Mar. 31, 2018	Dec. 31, 2017
Class Of Stock [Line Items]
Common stock, shares authorized		45,000,000	45,000,000
Common stock, shares issued		23,152,313	22,527,652
Common stock, shares outstanding		23,152,313	22,527,652
Number of votes per share of common stock		One vote for each share of common stock
Common stock, par value		$ 0.0001	$ 0.0001
Stockholder Rights Plan
Class Of Stock [Line Items]
Dividend declaration ratio of preferred share purchase right for outstanding share of common stock	100.00%
Common stock, par value	$ 0.0001
Stockholder Rights Plan | Series A Junior Participating Preferred Stock
Class Of Stock [Line Items]
Percentage of Shareholders right to purchase preferred stock	0.10%
Purchase price of preferred share	$ 4.50
Beneficial ownership percentage of acquiring person	20.00%
Preferred share purchase rights exercisable starting period	10 days

Stockholders' Equity and Long40

Stockholders' Equity and Long-term Employee Incentive Plan - Long Term Employee Incentive Plan - Additional Information (Detail) - Long Term Employee Incentive Plan - shares	1 Months Ended
	May 31, 2017	May 31, 2016	Jun. 30, 2015	Mar. 31, 2018
Class Of Stock [Line Items]
Maximum number of shares of common stock to be issued under the Incentive Plan				4,901,548
Additional number of shares of common stock to be issued under the Incentive Plan	1,450,000	1,000,000	620,000

Expense Related to Incentive Pl

Expense Related to Incentive Plan (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Class Of Stock [Line Items]
Total stock-based compensation expense	$ 8,850	$ 2,973
Long Term Employee Incentive Plan
Class Of Stock [Line Items]
Total stock-based compensation expense	8,850	2,873
Total cash-based compensation expense	11,341	5,427
Incentive Plan compensation (income) expense	20,191	8,300
Long Term Employee Incentive Plan | Time-based restricted stock awards
Class Of Stock [Line Items]
Total stock-based compensation expense	3,474	1,500
Long Term Employee Incentive Plan | TSR awards
Class Of Stock [Line Items]
Total stock-based compensation expense	1,712	916
Long Term Employee Incentive Plan | Stock Option Awards
Class Of Stock [Line Items]
Total stock-based compensation expense	3,664	457
Long Term Employee Incentive Plan | Time-based restricted cash awards
Class Of Stock [Line Items]
Total cash-based compensation expense	1,282	279
Long Term Employee Incentive Plan | Performance Based Restricted Cash Awards
Class Of Stock [Line Items]
Total cash-based compensation expense	808	507
Long Term Employee Incentive Plan | Cash-Settled Stock Appreciation Rights
Class Of Stock [Line Items]
Total cash-based compensation expense	$ 9,251	$ 4,641

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, 2018USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 32,223
Time-based restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 18,403
Weighted Average Years Remaining	2 years 3 months 18 days
TSR awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 13,492
Weighted Average Years Remaining	2 years 7 months 6 days
Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense	$ 328
Weighted Average Years Remaining	8 months 12 days

Stockholders' Equity and Long43

Stockholders' Equity and Long-term Employee Incentive Plan - Equity Awards - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2017EntityInstallment	Mar. 31, 2018USD ($)$ / sharesshares	Mar. 31, 2017USD ($)$ / shares	Feb. 28, 2018Entity
Time-based restricted stock awards
Class Of Stock [Line Items]
Vesting period		3 years
Shares granted		361,619
Weighted average grant date fair value of share granted | $ / shares		$ 32.90	$ 43.92
Vested, shares		182,274
Time-based restricted stock awards | Non-Employee Directors
Class Of Stock [Line Items]
Vesting period		1 year
TSR Awards
Class Of Stock [Line Items]
Shares granted		184,657
Weighted average grant date fair value of share granted | $ / shares		$ 58.87
Number of Peer Companies | Entity	11			15
Number of installment for performance-Vested Shares vest | Installment	3
Vested, shares		37,391
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
TSR Awards 2017
Class Of Stock [Line Items]
Vested, shares		0
Stock Option Awards
Class Of Stock [Line Items]
Vesting period		3 years
Total intrinsic value for options exercised | $		$ 5.5	$ 1.4
Minimum [Member] | Time-based restricted stock awards
Class Of Stock [Line Items]
Estimated forfeiture rates		0.00%
Minimum [Member] | TSR Awards
Class Of Stock [Line Items]
Estimated forfeiture rates		0.00%
Maximum | Time-based restricted stock awards
Class Of Stock [Line Items]
Estimated forfeiture rates		15.00%
Maximum | TSR Awards
Class Of Stock [Line Items]
Estimated forfeiture rates		2.00%

Changes in Non-Vested Time Base

Changes in Non-Vested Time Based Restricted Stock Awards (Detail) - Time-based restricted stock awards - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, beginning of period, Shares	407,487
Granted, Shares	361,619
Vested, Shares	(182,274)
Forfeited, Shares	(2,386)
Non-vested, end of period, Shares	584,446
Non-vested, beginning of period, Weighted Average Grant Date Fair Value	$ 41.62
Granted, Weighted Average Grant Date Fair Value	32.90	$ 43.92
Vested, Weighted Average Grant Date Fair Value	43.97
Forfeited, Weighted Average Grant Date Fair Value	43.92
Non-vested, end of period, Weighted Average Grant Date Fair Value	$ 35.48

Valuation Model for TSR Awards

Valuation Model for TSR Awards (Detail) - TSR Awards	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average Expected Volatility, minimum	35.19%	49.07%
Average Expected Volatility, maximum	197.75%	108.21%
Expected Dividend Yield	0.00%	0.00%
Risk-Free Interest Rate, Minimum	1.96%	0.83%
Risk-Free Interest Rate, Maximum	2.31%	1.45%

Changes in Non-Vested TSR Award

Changes in Non-Vested TSR Awards (Detail) - TSR awards	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, beginning of period, Shares | shares	130,444
Granted, Shares | shares	184,657
Vested, Shares | shares	(37,391)
Non-vested, end of period, Shares | shares	277,710
Non-vested, beginning of period, Weighted Average Grant Date Fair Value | $ / shares	$ 77.23
Granted, Weighted Average Grant Date Fair Value | $ / shares	58.87
Vested, Weighted Average Grant Date Fair Value | $ / shares	65.90
Non-vested, end of period, Weighted Average Grant Date Fair Value | $ / shares	$ 66.67

Stockholders' Equity and Long47

Stockholders' Equity and Long-term Employee Incentive Plan - Stock Option Awards - Additional Information (Detail) - Stock Option Awards	3 Months Ended
	Mar. 31, 2018
Class Of Stock [Line Items]
Vesting period	3 years
Options granted, term	10 years
Dividend yield	0.00%
Average Expected Volatility, minimum	63.00%
Average Expected Volatility, maximum	67.00%
Risk free rate, minimum	1.75%
Risk free rate, maximum	2.27%
Minimum [Member]
Class Of Stock [Line Items]
Estimated forfeiture rates	0.00%
Maximum
Class Of Stock [Line Items]
Estimated forfeiture rates	15.00%

Option Award Activity (Detail)

Option Award Activity (Detail) - Stock Option Awards $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning of period, Shares | shares	918,254
Exercised, Shares | shares	(176,490)
Forfeited, Shares | shares	(2,589)
Outstanding, end of period, Shares | shares	739,175
Exercisable, end of period, Shares | shares	470,685
Outstanding, beginning of period, Weighted Average Exercise Price | $ / shares	$ 3.95
Exercised, Weighted Average Exercise Price | $ / shares	3.55
Forfeited, Weighted Average Exercise Price | $ / shares	3.54
Outstanding, end of period, Weighted Average Exercise Price | $ / shares	4.04
Exercisable, end of period, Weighted Average Exercise Price | $ / shares	$ 4.03
Outstanding, Weighted Average Remaining Contractual Term	7 years 7 months 6 days
Exercisable, Weighted Average Remaining Contractual Term	7 years 7 months 6 days
Outstanding, Aggregate Intrinsic Value | $	$ 22,659
Exercisable, Aggregate Intrinsic Value | $	$ 14,413

Stockholders' Equity and Long49

Stockholders' Equity and Long-term Employee Incentive Plan - Liability Awards - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended
	Feb. 29, 2016Installment$ / sharesshares	May 31, 2015$ / shares	Mar. 31, 2018USD ($)$ / shares
Cash-Settled Stock Appreciation Rights
Class Of Stock [Line Items]
Cash-settled stock appreciation rights, fair value			$ 48.1
Cash-settled stock appreciation rights, fair value expensed			$ 38.6
Dividend yield			0.00%
Expected price volatility			0.00%
Risk-free rates			0.00%
Cash-Settled Stock Appreciation Rights | Employees
Class Of Stock [Line Items]
Cash-settled stock appreciation rights, base price | $ / shares	$ 2.65
Number of shares cash-settled stock appreciation rights | shares	335,445
Grant date term	10 years
Number of installment for equity awards | Installment	3
Cash-Settled Stock Appreciation Rights | Executives
Class Of Stock [Line Items]
Cash-settled stock appreciation rights, base price | $ / shares	$ 2.915
Number of shares cash-settled stock appreciation rights | shares	1,121,162
Cash-Settled Stock Appreciation Rights | Non-Employee Directors
Class Of Stock [Line Items]
Grant date term	10 years
Vesting period	1 year
Cash-Settled Stock Appreciation Rights | Minimum [Member]
Class Of Stock [Line Items]
Estimated forfeiture rates			0.00%
Cash-Settled Stock Appreciation Rights | Maximum
Class Of Stock [Line Items]
Estimated forfeiture rates			14.00%
Time-based restricted cash awards
Class Of Stock [Line Items]
Vesting period			3 years
Restricted cash award, fair value			$ 9.6
Restricted cash award, fair value expensed			$ 7.6
Restricted cash award, measured on cash value per unit | $ / shares			$ 1
Time-based restricted cash awards | Non-Employee Directors
Class Of Stock [Line Items]
Vesting period			1 year
Time-based restricted cash awards | Minimum [Member]
Class Of Stock [Line Items]
Estimated forfeiture rates			0.00%
Time-based restricted cash awards | Maximum
Class Of Stock [Line Items]
Estimated forfeiture rates			23.00%
Performance Based Restricted Cash Awards
Class Of Stock [Line Items]
Vesting period			3 years
Estimated forfeiture rates			4.00%
Dividend yield			0.00%
Expected price volatility			0.00%
Risk-free rates			0.00%
Restricted cash award, fair value			$ 15.8
Restricted cash award, fair value expensed			$ 15.7
Number of trading days			60 days
Common stock, hurdle stock price | $ / shares		$ 10	$ 40
Performance Based Restricted Cash Awards | Maximum
Class Of Stock [Line Items]
Common stock, hurdle stock price | $ / shares		$ 40
Restricted cash award, average effective term			1 year

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Nov. 06, 2017	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Additional consideration, fair value		$ 21,681	$ 18,472
Contingent payment earned included in accounts received		4,200
Maximum amount of loss in the event of all counterparties defaulting		0
Aneth Disposition | Maximum
Derivative [Line Items]
Receive additional cash consideration upon condition	$ 35,000
Contingent Payment Derivative Instrument | Aneth Disposition
Derivative [Line Items]
Additional consideration, fair value		17,900
Level 2 | Commodity Contract
Derivative [Line Items]
Fair value of commodity derivatives net liability		$ 23,400

Oil and Gas Commodity Contracts

Oil and Gas Commodity Contracts (Detail) - Apr – Dec 2018 Commodity Swap Contracts	3 Months Ended
	Mar. 31, 2018MMBTU$ / bbl$ / MMBTUbbl
Oil (NYMEX WTI)
Derivative [Line Items]
Bbl per Day | bbl	3,484
Weighted Average Swap Price per Bbl | $ / bbl	50.95
Gas (NYMEX HH)
Derivative [Line Items]
MMBtu per Day | MMBTU	20,000
Weighted Average Swap Price per MMBtu | $ / MMBTU	2.77

Commodity Collar Contracts (Det

Commodity Collar Contracts (Detail) - Oil (NYMEX WTI)	Mar. 31, 2018bbl$ / bbl
Apr - Dec 2018 Two Way Commodity Collar Contracts
Derivative [Line Items]
Bbl per Day | bbl	1,669
Weighted Average Floor Price	58
Weighted Average Ceiling Price	63.97
Apr – Dec 2018 Three Way Oil Collar Contracts
Derivative [Line Items]
Bbl per Day | bbl	3,335
Weighted Average Ceiling Price	54.29
Weighted Average Short Put Price	40.10
Weighted Average Floor Price	49.35

Commodity Option Contracts (Det

Commodity Option Contracts (Detail) - Oil (NYMEX WTI)	Mar. 31, 2018bbl$ / bbl
Apr - Dec 2018 Commodity Option Contract
Derivative [Line Items]
Bbl per Day | bbl	856
Sold Call Price | $ / bbl	55
Jan - Dec 2019 Commodity Option Contract
Derivative [Line Items]
Bbl per Day | bbl	2,430
Sold Call Price | $ / bbl	64.03

Basis Swap Contracts (Detail)

Basis Swap Contracts (Detail) - Gas (Permian Basin El Paso) - Apr – Dec 2018 Basis Swap Contracts	3 Months Ended
	Mar. 31, 2018MMBTU$ / MMBTU
Derivative [Line Items]
MMBtu per Day | MMBTU	18,000
Weighted Average Price Differential | $ / MMBTU	0.69

Additional Commodity Option Con

Additional Commodity Option Contracts (Detail) - Oil (NYMEX WTI) - Jan - Dec 2019 Commodity Option Contract	May 07, 2018bbl$ / bbl	Mar. 31, 2018bbl$ / bbl
Derivative [Line Items]
Bbl per Day | bbl		2,430
Sold Call Price | $ / bbl		64.03
Subsequent Event
Derivative [Line Items]
Bbl per Day | bbl	1,240
Sold Call Price | $ / bbl	65

Additional Basis Swap Contracts

Additional Basis Swap Contracts (Detail) - Oil (Midland Argus) - Jun – Dec 2018 Basis Swap Contracts - Subsequent Event	May 07, 2018$ / bblbbl
Derivative [Line Items]
Bbl per Day | bbl	4,167
Weighted Average Price Differential | $ / bbl	5.67

Amount of Commodity Derivative

Amount of Commodity Derivative Instrument Gains (Losses) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Commodity derivative settlement gain	$ (7,277)	$ (250)
Mark-to-market gain (loss)	(2,125)	11,090
Commodity derivative instruments gain (loss)	$ (9,402)	$ 10,840

Assets and Liabilities Required

Assets and Liabilities Required to be Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets
Total assets	$ 21,681	$ 18,472
Liabilities
Commodity derivative instruments	24,735	20,822
Commodity derivative instruments	2,433	990
Total liabilities	27,168	21,812
Contingent Payment
Assets
Derivative instruments current	5,671	8,311
Derivative instruments noncurrent	12,253	9,635
Commodity
Assets
Derivative instruments current	$ 3,757	$ 526

Schedule of Revenue Disaggregat

Schedule of Revenue Disaggregated by Type and Geographical Area/Basin (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation Of Revenue [Line Items]
Total revenue all products	$ 74,718	$ 64,592
Oil
Disaggregation Of Revenue [Line Items]
Total revenue all products	59,651	57,659
Gas
Disaggregation Of Revenue [Line Items]
Total revenue all products	6,360	4,352
Natural Gas Liquids
Disaggregation Of Revenue [Line Items]
Total revenue all products	8,707	2,581
Permian Basin
Disaggregation Of Revenue [Line Items]
Total revenue all products	74,718	41,231
Permian Basin | Oil
Disaggregation Of Revenue [Line Items]
Total revenue all products	59,651	34,569
Permian Basin | Gas
Disaggregation Of Revenue [Line Items]
Total revenue all products	6,360	4,081
Permian Basin | Natural Gas Liquids
Disaggregation Of Revenue [Line Items]
Total revenue all products	$ 8,707	2,581
Paradox Basin
Disaggregation Of Revenue [Line Items]
Total revenue all products		23,361
Paradox Basin | Oil
Disaggregation Of Revenue [Line Items]
Total revenue all products		23,090
Paradox Basin | Gas
Disaggregation Of Revenue [Line Items]
Total revenue all products		$ 271

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Revenue From Contract With Customer [Abstract]
Receivables from contracts with customers	$ 36.2	$ 43.1

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Senior Notes - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2018	May 31, 2017	Mar. 31, 2018	Dec. 31, 2017
Subsequent Event [Line Items]
Principal amount		$ 125	$ 400
Debt instrument, interest rate		8.50%	8.50%	8.50%
Net proceeds from offering of Incremental Senior Notes		$ 125.1
Subsequent Event
Subsequent Event [Line Items]
Principal amount	$ 75
Debt instrument, interest rate	8.50%
Net proceeds from offering of Incremental Senior Notes	$ 74