Amplify Energy (AMPYW) 10-Q 9 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 04, 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	AMPY
Entity Registrant Name	AMPLIFY ENERGY CORP
Entity Central Index Key	1,521,847
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		25,053,758

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 5,717	$ 6,392
Restricted cash	325	0
Accounts receivable	31,516	36,391
Short-term derivative instruments	15,662	28,546
Prepaid expenses and other current assets	6,349	7,220
Assets held for sale (see Note 4)	2,036	0
Total current assets	61,605	78,549
Property and equipment, at cost:
Oil and natural gas properties, successful efforts method	565,328	603,053
Support equipment and facilities	100,528	100,225
Other	6,133	6,133
Accumulated depreciation, depletion and impairment	(46,186)	(35,979)
Property and equipment, net	625,803	673,432
Long-term derivative instruments	156	0
Restricted investments	157,124	156,938
Assets held for sale (see Note 4)	33,933	0
Other long-term assets	7,839	8,545
Total assets	886,460	917,464
Current liabilities:
Accounts payable	3,635	1,941
Revenues payable	23,381	22,427
Accrued liabilities (see Note 2)	17,304	18,233
Short-term derivative instruments	2,673	0
Assets held for sale (see Note 4)	1,102	0
Total current liabilities	48,095	42,601
Long-term debt (see Note 8)	347,000	376,000
Asset retirement obligations	72,415	99,460
Long-term derivative instruments	5,401	5,470
Assets held for sale (see Note 4)	15,409	0
Total liabilities	488,320	523,531
Commitments and contingencies (see Note 13)
Stockholders'/ partners' equity:
Preferred stock, $0.0001 par value: 45,000,000 shares authorized; no shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	0	0
Warrants, 2,173,913 warrants issued and outstanding at March 31, 2018 and December 31, 2017	4,788	4,788
Common stock, $0.0001 par value: 300,000,000 shares authorized; 25,000,000 shares issued and outstanding at March 31, 2018 and December 31, 2017	3	3
Additional paid-in capital	388,824	387,856
Accumulated earnings (deficit)	4,525	1,286
Total stockholders'/partners' equity	398,140	393,933
Total liabilities and equity	$ 886,460	$ 917,464

UNAUDITED CONDENSED CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	45,000,000	45,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Warrants issued	2,173,913	2,173,913
Warrants outstanding	2,173,913	2,173,913
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	25,000,000	25,000,000
Common stock, shares outstanding	25,000,000	25,000,000

UNAUDITED CONDENSED STATEMENTS

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED OPERATIONS - USD ($) shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Oil and natural gas sales	$ 87,847,000
Other revenues	85,000
Total revenues	87,932,000
Costs and expenses:
Lease operating expense	29,570,000
Gathering, processing and transportation	5,600,000
Exploration	34,000
Taxes other than income	5,037,000
Depreciation, depletion and amortization	12,958,000
General and administrative expense	10,657,000
Accretion of asset retirement obligations	1,718,000
(Gain) loss on commodity derivative instruments	10,456,000
(Gain) loss on sale of properties	2,373,000
Other, net	0
Total costs and expenses	78,403,000
Operating income (loss)	9,529,000
Other income (expense):
Interest expense, net	(5,772,000)
Other income (expense)	0
Total other income (expense)	(5,772,000)
Income (loss) before reorganization items, net and income taxes	3,757,000
Reorganization items, net	(518,000)
Income tax benefit (expense)	0	$ 100,000
Net income (loss)	3,239,000
Net income (loss) attributable to common stockholders/limited partners	3,239,000
Successor/Predecessor interest in net income (loss):
Net income (loss) attributable to Successor/Predecessor	3,239,000
Net (income) allocated to participating restricted stockholders	(83,000)
Net income (loss) available to common stockholders/limited partners	$ 3,156,000
Earnings per share/unit: (See Note 10)
Basic and diluted earnings per share/unit	$ 0.13
Weighted average common shares/units outstanding:
Basic and diluted	25,000
Predecessor [Member]
Revenues:
Oil and natural gas sales		81,284,000
Other revenues		96,000
Total revenues		81,380,000
Costs and expenses:
Lease operating expense		25,986,000
Gathering, processing and transportation		8,035,000
Exploration		16,000
Taxes other than income		4,266,000
Depreciation, depletion and amortization		27,882,000
General and administrative expense		23,370,000
Accretion of asset retirement obligations		2,495,000
(Gain) loss on commodity derivative instruments		(10,241,000)
(Gain) loss on sale of properties		0
Other, net		(8,000)
Total costs and expenses		81,801,000
Operating income (loss)		(421,000)
Other income (expense):
Interest expense, net		(8,400,000)
Other income (expense)		6,000
Total other income (expense)		(8,394,000)
Income (loss) before reorganization items, net and income taxes		(8,815,000)
Reorganization items, net		(7,653,000)
Income tax benefit (expense)		91,000
Net income (loss)		(16,377,000)
Net income (loss) attributable to common stockholders/limited partners		(16,377,000)
Successor/Predecessor interest in net income (loss):
Net income (loss) attributable to Successor/Predecessor		(16,377,000)
Net (income) allocated to participating restricted stockholders		0
Net income (loss) available to common stockholders/limited partners		$ (16,377,000)
Earnings per share/unit: (See Note 10)
Basic and diluted earnings per share/unit		$ (0.20)
Weighted average common shares/units outstanding:
Basic and diluted		83,810

UNAUDITED CONDENSED STATEMENTS5

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ 3,239
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	12,958
(Gain) loss on derivative instruments	10,456
Cash settlements (paid) received on expired derivative instruments	4,876
Cash settlements (paid) on terminated derivatives	0
Deferred income tax expense (benefit)	0
Amortization of deferred financing costs	541
Accretion of asset retirement obligations	1,718
(Gain) loss on sale of properties	2,373
Share/unit-based compensation (see Note 11)	1,176
Settlement of asset retirement obligations	0
Reorganization items, net	0
Other	0
Changes in operating assets and liabilities:
Accounts receivable	2,839
Prepaid expenses and other assets	(115)
Payables and accrued liabilities	2,086
Other	0
Net cash provided by operating activities	42,147
Cash flows from investing activities:
Additions to oil and gas properties	(13,098)
Additions to other property and equipment	0
Additions to restricted investments	(186)
Other	0
Net cash (used in) investing activities	(13,284)
Cash flows from financing activities:
Advances on revolving credit facilities	5,000
Payments on revolving credit facilities	(34,000)
Restricted units returned to plan	0
Other	(213)
Net cash (used in) provided by financing activities	(29,213)
Net change in cash, cash equivalents and restricted cash	(350)
Cash, cash equivalents and restricted cash, beginning of period	6,392
Cash, cash equivalents and restricted cash, end of period	$ 6,042
Predecessor [Member]
Cash flows from operating activities:
Net income (loss)		$ (16,377)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization		27,882
(Gain) loss on derivative instruments		(10,241)
Cash settlements (paid) received on expired derivative instruments		10,826
Cash settlements (paid) on terminated derivatives		94,146
Deferred income tax expense (benefit)		(74)
Amortization of deferred financing costs		0
Accretion of asset retirement obligations		2,495
(Gain) loss on sale of properties		0
Share/unit-based compensation (see Note 11)		1,125
Settlement of asset retirement obligations		(113)
Reorganization items, net		3,767
Other		41
Changes in operating assets and liabilities:
Accounts receivable		3,761
Prepaid expenses and other assets		4,099
Payables and accrued liabilities		4,650
Other		(222)
Net cash provided by operating activities		125,765
Cash flows from investing activities:
Additions to oil and gas properties		(3,908)
Additions to other property and equipment		(50)
Additions to restricted investments		(154)
Other		(150)
Net cash (used in) investing activities		(4,262)
Cash flows from financing activities:
Advances on revolving credit facilities		16,600
Payments on revolving credit facilities		(73,453)
Restricted units returned to plan		(1)
Other		0
Net cash (used in) provided by financing activities		(56,854)
Net change in cash, cash equivalents and restricted cash		64,649
Cash, cash equivalents and restricted cash, beginning of period		15,373
Cash, cash equivalents and restricted cash, end of period		$ 80,022

UNAUDITED CONDENSED STATEMENTS6

UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Warrants [Member]	Additional Paid in Capital [Member]	Accumulated Earnings (Deficit) [Member]	Limited Partners Common Units [Member]
Balance (Predecessor [Member]) at Dec. 31, 2016						$ 99,489
Net income (loss) | Predecessor [Member]	$ (16,377)					(16,377)
Amortization of unit-based awards | Predecessor [Member]						1,069
Restricted units repurchased and other | Predecessor [Member]						(1)
Balance (Predecessor [Member]) at Mar. 31, 2017						$ 84,180
Balance at Dec. 31, 2017	393,933	$ 3	$ 4,788	$ 387,856	$ 1,286
Net income (loss)	3,239	0	0	0	3,239
Share-based compensation expense	1,176	0	0	1,176	0
Other	(208)	0	0	(208)	0
Balance at Mar. 31, 2018	$ 398,140	$ 3	$ 4,788	$ 388,824	$ 4,525

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1. Organization and Basis of Presentation General When referring to Amplify Energy Corp. (formerly known as Memorial Production Partners LP and also referred to as “Successor,” “Amplify Energy,” or the “Company”), the intent is to refer to Amplify Energy, a newly formed Delaware corporation, and its consolidated subsidiaries as a whole or on an individual basis, depending on the context in which the statements are made. Amplify Energy is the successor reporting company of Memorial Production Partners LP (“MEMP”) pursuant to Rule 15d-5 of the Securities Exchange Act of 1934, as amended. When referring to the “Predecessor” or the “Company” in reference to the period prior to the emergence from bankruptcy, the intent is to refer to MEMP, the predecessor that was dissolved following the effective date of the Plan (as defined below) and its consolidated subsidiaries as a whole or on an individual basis, depending on the context in which the statements are made. We operate in one reportable segment engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Our management evaluates performance based on one reportable business segment as the economic environments are not different within the operation of our oil and natural gas properties. Our assets consist primarily of producing oil and natural gas properties and are located in Texas, Louisiana, Wyoming and offshore Southern California. Most of our oil and natural gas properties are located in large, mature oil and natural gas reservoirs. The Company’s properties consist primarily of operated and non-operated working interests in producing and undeveloped leasehold acreage and working interests in identified producing wells. Emergence from Voluntary Reorganization under Chapter 11 On January 16, 2017 (the “Petition Date”), MEMP and certain of its subsidiaries (collectively with MEMP, the “Debtors”) filed voluntary petitions (the cases commenced thereby, the “Chapter 11 proceedings”) under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code” or “Chapter 11”) in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Bankruptcy Court”). The Debtors’ Chapter 11 proceedings were jointly administered under the caption In re: Memorial Production Partners LP, et al. Basis of Presentation Our Unaudited Condensed Consolidated Financial Statements included herein have been prepared pursuant to the rules and guidelines of the Securities and Exchange Commission (the “SEC”). The results reported in these Unaudited Condensed Consolidated Financial Statements should not necessarily be taken as indicative of results that may be expected for the entire year. In our opinion, the accompanying Unaudited Condensed Consolidated Financial Statements include all adjustments of a normal recurring nature necessary for fair presentation. Although we believe the disclosures in these financial statements are adequate and make the information presented not misleading, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the SEC. The Unaudited Condensed Consolidated Financial Statements have been prepared as if the Company is a going concern and reflect the application of Accounting Standards Codification 852 “Reorganizations” (“ASC 852”). ASC 852 requires that the financial statements, for periods subsequent to the Chapter 11 filing, distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Accordingly, certain expenses, gains and losses that were realized or incurred in the bankruptcy proceedings are recorded in “reorganization items, net” on the Company’s Unaudited Condensed Statements of Consolidated Operations. All material intercompany transactions and balances have been eliminated in preparation of our consolidated financial statements. Comparability of Financial Statements to Prior Periods We adopted and applied the relevant guidance provided in GAAP with respect to the accounting and financial statement disclosures for entities that have emerged from bankruptcy proceedings (“Fresh Start Accounting”), on May 4, 2017. Accordingly, our Unaudited Condensed Consolidated Financial Statements and Notes after May 4, 2017, are not comparable to the Unaudited Condensed Consolidated Financial Statements and Notes prior to that date. To facilitate our financial statement presentations, we refer to the reorganized company in these Unaudited Condensed Consolidated Financial Statements and Notes as the “Successor” for periods subsequent to May 4, 2017 and “Predecessor” for periods prior to May 5, 2017. Furthermore, our Unaudited Condensed Consolidated Financial Statements and Notes have been presented with a “black line” division to delineate the lack of comparability between the Predecessor and Successor. Use of Estimates The preparation of the accompanying Unaudited Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include, but are not limited to, oil and natural gas reserves; depreciation, depletion, and amortization of proved oil and natural gas properties; future cash flows from oil and natural gas properties; impairment of long-lived assets; fair value of derivatives; fair value of equity compensation; fair values of assets acquired and liabilities assumed in business combinations and asset retirement obligations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies A discussion of our significant accounting policies and estimates is included in our 2017 Form 10-K. Accrued Liabilities Current accrued liabilities consisted of the following at the dates indicated (in thousands): Successor Successor March 31, December 31, 2018 2017 Accrued lease operating expense $ 7,840 $ 6,439 Accrued capital expenditures 4,591 3,854 Accrued general and administrative expense 3,515 4,412 Accrued ad valorem tax 754 398 Asset retirement obligation 438 713 Accrued interest payable 166 1,309 Other — 1,108 Accrued liabilities $ 17,304 $ 18,233 Cash and Cash Equivalents Reconciliation The following table provides a reconciliation of cash and cash equivalents on the Unaudited Condensed Consolidated Balance Sheet to cash, cash equivalents and restricted cash on the Unaudited Condensed Statements of Consolidated Cash Flows (in thousands): Successor Successor March 31, December 31, 2018 2017 Cash and cash equivalents $ 5,717 $ 6,392 Restricted cash 325 — Total cash, cash equivalents and restricted cash $ 6,042 $ 6,392 Supplemental Cash Flows Supplemental cash flows for the periods presented (in thousands): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 Supplemental cash flows: Cash paid for interest, net of amounts capitalized $ 6,028 $ 4,777 Cash paid for reorganization items, net 656 3,887 Noncash investing and financing activities: Increase (decrease) in capital expenditures in payables and accrued liabilities 1,890 912 Reorganization Items, Net The Company has incurred significant costs associated with the reorganization. Reorganization items, net, which are expensed as incurred, represent costs and income directly associated with the Chapter 11 proceedings since the Petition Date. The following table summarizes the components of reorganization items, net included in the accompanying Unaudited Condensed Statements of Consolidated Operations (in thousands): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 Professional fees $ (414 ) $ (7,585 ) Other (104 ) (68 ) Reorganization items, net $ (518 ) $ (7,653 ) Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued guidance regarding the accounting for revenue from contracts with customers. This standard includes a five-step revenue recognition model to depict the transfer of goods or services to customers in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Among other things, the standard also eliminates industry-specific revenue guidance and requires enhanced disclosures related to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The standard was effective for the Company starting January 1, 2018, and the Company adopted the standard using a modified retrospective approach. See Note 3 for additional information. New Accounting Pronouncements Statement of Cash Flows – Restricted Cash a consensus of the FASB Emerging Issues Task Force . In November 2016, the FASB issued an accounting standards update to clarify the guidance on the classification and presentation of restricted cash in the statement of cash flows. The changes in restricted cash and restricted cash equivalents that result from the transfers between cash, cash equivalents, and restricted cash and restricted cash equivalents should not be presented as cash flow activities in the statement of cash flows. The new guidance is effective for reporting periods beginning after December 15, 2017 and interim periods within those fiscal years. The new guidance requires transition under a retrospective approach for each period presented. The Company adopted this guidance as of January 1, 2018, noting the impact of adopting this guidance was not material to the Company’s financial statements and related disclosures. Leases. In February 2016, the FASB issued a revision to lease accounting guidance. The FASB retained a dual model, requiring leases to be classified as either direct financing or operating leases. The classification will be based on criteria that are similar to the current lease accounting treatment. The revised guidance requires lessees to recognize a right-of-use asset and lease liability for all leasing transactions regardless of classification. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. The amendments are effective for financial statements issued for annual periods beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted for all entities as of the beginning of an interim or annual reporting period. The Company is the lessee under various agreements for office space, compressors, equipment, and surface rentals that are currently accounted for as operating leases. As a result, these new rules will increase reported assets and liabilities. The Company will not early adopt this standard. The Company will apply the revised lease rules for our interim and annual reporting periods starting January 1, 2019 using a modified retrospective approach, including several optional practical expedients related to leases commenced before the effective date. The Company is currently evaluating the impact of these rules on its financial statements and has started the assessment process by evaluating the population of leases under the revised definition. The quantitative impacts of the new standard are dependent on the leases in place at the time of adoption. As a result, the evaluation of the effect of the new standards will extend over future periods. Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations and cash flows.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Revenue	Note 3. Revenue Revenue from contracts with customers As discussed in Note 2, the Company adopted Accounting Standard Update (ASU) No. 2014-09, revenue from contracts with customers (ASC 606), on January 1, 2018 using the modified retrospective method of adoption. Adoption of the ASU did not require an adjustment to the opening balance of equity and did not materially change the Company's amount and timing of revenues. The Company applied the ASU only to contracts that were not completed as of January 1, 2018. Although the adoption of ASC 606 did not have an impact on the Company’s net income or cash flows, it did result in the reclassification of fees incurred under certain gathering and gas processing agreements. Such reclassification led to an overall decrease in oil and natural gas sales with a corresponding decrease in gathering, processing and transportation as follows (in thousands): For the Three Months Ended March 31, 2018 As Reported Previous Revenue Recognition Method Increase/ (Decrease) (in thousands) Revenues: Oil and natural gas sales $ 87,847 $ 88,698 $ (851 ) Cost and expenses: Gathering, processing and transportation 5,600 6,451 (851 ) Net income (loss) $ 3,239 $ 3,239 $ — The reclassification of certain fees between oil and natural gas sales and gathering, processing and transportation is the result of the Company’s assessment of the point in time at which its performance obligations under its commodity sales contracts are satisfied and control of the commodity is transferred to the customer. The Company has determined that its contracts for the sale of crude oil, unprocessed natural gas, residue gas and NGLs contain monthly performance obligations to deliver product at locations specified in the contract. Control is transferred at the delivery location, at which point the performance obligation has been satisfied and revenue is recognized. Fees included in the contract that are incurred prior to control transfer are classified as gathering, processing and transportation and fees incurred after control transfers are included as a reduction to the transaction price. The transaction price at which revenue is recognized consists entirely of variable consideration based on quoted market prices less various fees and the quantity of volumes delivered. Oil and natural gas revenues are recorded using the sales method. Under this method, revenues are recognized based on actual volumes of oil and natural gas sold to purchasers, regardless of whether the sales are proportionate to our ownership in the property. An asset or a liability is recognized to the extent there is an imbalance in excess of the proportionate share of the remaining recoverable reserves on the underlying properties. No significant imbalances existed at March 31, 2018 and 2017. Disaggregation of Revenue We have identified three material revenue streams in our business: oil, natural gas and NGLs. The following table present our revenues disaggregated by revenue stream. For the Three Months Ended March 31, 2018 (in thousands) Revenues Oil $ 54,726 NGLs 10,946 Natural gas 22,175 Oil and natural gas sales $ 87,847 Contract Balances Under our sales contracts, we invoice customers once our performance obligations have been satisfied, at which point payment is unconditional. Accordingly, our contracts do not give rise to contract assets or liabilities. Accounts receivable attributable to our revenue contracts with customers was $29.4 million at March 31, 2018 which includes $1.1 million that has been reclassified to assets held for sale and $30.1 million at December 31, 2017. Transaction Price Allocated to Remaining Performance Obligations For our contracts that have a contract term greater than one year, 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 variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under our contracts, each unit of product delivered to the customer 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 contracts 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.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisitions and Divestitures	Note 4. Acquisitions and Divestitures Acquisition and Divestiture Related Expenses Acquisition and divestiture related expenses for both related party and third party transactions are included in general and administrative expense in the accompanying Unaudited Condensed Statements of Consolidated Operations for the periods indicated below (in thousands): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 $ 208 $ — Acquisitions and Divestitures There were no material acquisitions or divestitures during the three months ended March 31, 2018 and 2017, respectively. Assets Held for Sale On March 9, 2018, we entered into a definitive agreement to divest certain of our non-core assets in South Texas (the “South Texas Divestiture”). The assets held for sale are recorded at the lower of their carrying value or fair value less cost to sell. We recorded a loss as a result of the planned disposal of approximately $2.4 million during the three months ended March 31, 2018 in “(gain) loss on sale of properties” in the accompanying Unaudited Condensed Statements of Consolidated Operations. This disposition did not qualify as a discontinued operation. The major categories of assets and liabilities were: Successor March 31, 2018 (In thousands) Assets classified as held for sale Accounts receivable $ 2,036 Property and equipment, at cost: Oil and natural gas properties, successful efforts method 39,057 Accumulated depreciation, depletion, and impairment (5,124 ) Property and equipment, net 33,933 Total assets classified as held for sale $ 35,969 Liabilities associated with assets held for sale Current liabilities: Revenue payable $ (517 ) Accrued liabilities (585 ) Total current liabilities (1,102 ) Asset retirement obligations (15,409 ) Total liabilities associated with assets held for sale $ (16,511 )

Fair Value Measurements of Fina

Fair Value Measurements of Financial Instruments	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements of Financial Instruments	Note 5. Fair Value Measurements of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at a specified measurement date. Fair value estimates are based on either (i) actual market data or (ii) assumptions that other market participants would use in pricing an asset or liability, including estimates of risk. A three-tier hierarchy has been established that classifies fair value amounts recognized or disclosed in the financial statements. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). All of the derivative instruments reflected on the accompanying Unaudited Condensed Consolidated Balance Sheets were considered Level 2. The carrying values of accounts receivables, accounts payables (including accrued liabilities), restricted investments and amounts outstanding under long-term debt agreements with variable rates included in the accompanying Unaudited Condensed Consolidated Balance Sheets approximated fair value at March 31, 2018 and December 31, 2017. The fair value estimates are based upon observable market data and are classified within Level 2 of the fair value hierarchy. These assets and liabilities are not presented in the following tables. Assets and Liabilities Measured at Fair Value on a Recurring Basis The fair market values of the derivative financial instruments reflected on the accompanying Unaudited Condensed Consolidated Balance Sheets as of March 31, 2018 and December 31, 2017 were based on estimated forward commodity prices. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement in its entirety. The significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. The following table presents the gross derivative assets and liabilities that are measured at fair value on a recurring basis at March 31, 2018 and December 31, 2017 for each of the fair value hierarchy levels: Successor Fair Value Measurements at March 31, 2018 Using Quoted Prices in Significant Other Significant Active Market Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Fair Value (In thousands) Assets: Commodity derivatives $ — $ 28,864 $ — $ 28,864 Liabilities: Commodity derivatives $ — $ 21,120 $ — $ 21,120 Successor Fair Value Measurements at December 31, 2017 Using Quoted Prices in Significant Other Significant Active Market Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Fair Value (In thousands) Assets: Commodity derivatives $ — $ 38,188 $ — $ 38,188 Liabilities: Commodity derivatives $ — $ 15,112 $ — $ 15,112 See Note 6 for additional information regarding our derivative instruments. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain assets and liabilities are reported at fair value on a nonrecurring basis as reflected on the accompanying Unaudited Condensed Consolidated Balance Sheets. The following methods and assumptions are used to estimate the fair values: • The fair value of asset retirement obligations (“AROs”) is based on discounted cash flow projections using numerous estimates, assumptions and judgments regarding factors such as the existence of a legal obligation for an ARO; amounts and timing of settlements; the credit-adjusted risk-free rate; and inflation rates. See Note 7 for a summary of changes in AROs. • If sufficient market data is not available, the determination of the fair values of proved and unproved properties acquired in transactions accounted for as business combinations are prepared by utilizing estimates of discounted cash flow projections. The factors to determine fair value include, but are not limited to, estimates of: (i) economic reserves; (ii) future operating and development costs; (iii) future commodity prices; and (iv) a market-based weighted average cost of capital. • Proved oil and natural gas properties are reviewed for impairment when events and circumstances indicate a possible decline in the recoverability of the carrying value of such properties. The factors used to determine fair value include, but are not limited to, estimates of proved reserves, estimates of probable reserves, future commodity prices, the timing of future production and capital expenditures and a discount rate commensurate with the risk reflective of the lives remaining for the respective oil and natural gas properties. • Unproved oil and natural gas properties are reviewed for impairment based on time or geologic factors. Information such as drilling results, reservoir performance, seismic interpretation or future plans to develop acreage is also considered. • No impairments were recognized during the three months ended March 31, 2018 or 2017, respectively.

Risk Management and Derivative

Risk Management and Derivative Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Risk Management and Derivative Instruments	Note 6. Risk Management and Derivative Instruments Derivative instruments are utilized to manage exposure to commodity price fluctuations and achieve a more predictable cash flow in connection with natural gas and oil sales from production and borrowing related activities. These instruments limit exposure to declines in prices, but also limit the benefits that would be realized if prices increase. Certain inherent business risks are associated with commodity derivative contracts, including market risk and credit risk. Market risk is the risk that the price of natural gas or oil will change, either favorably or unfavorably, in response to changing market conditions. Credit risk is the risk of loss from nonperformance by the counterparty to a contract. It is our policy to enter into derivative contracts, only with creditworthy counterparties, which generally are financial institutions, deemed by management as competent and competitive market makers. Some of the lenders, or certain of their affiliates, under our credit agreement are counterparties to our derivative contracts. While collateral is generally not required to be posted by counterparties, credit risk associated with derivative instruments is minimized by limiting exposure to any single counterparty and entering into derivative instruments only with creditworthy counterparties that are generally large financial institutions. Additionally, master netting agreements are used to mitigate risk of loss due to default with counterparties on derivative instruments. We have also entered into International Swaps and Derivatives Association Master Agreements (“ISDA Agreements”) with each of our counterparties. The terms of the ISDA Agreements provide us and each of our counterparties with rights of set-off upon the occurrence of defined acts of default by either us or our counterparty to a derivative, whereby the party not in default may set-off all liabilities owed to the defaulting party against all net derivative asset receivables from the defaulting party. At March 31, 2018, after taking into effect netting arrangements, we had no counterparty exposure related to our derivative instruments. As a result, had all counterparties failed completely to perform according to the terms of the existing contracts, we would have had the right to offset $13.9 million against amounts outstanding under our Credit Facility at March 31, 2018. See Note 7 for additional information regarding our Credit Facility (as defined below). Commodity Derivatives We may use a combination of commodity derivatives (e.g., floating-for-fixed swaps, put options, and costless collars) to manage exposure to commodity price volatility. We recognize all derivative instruments at fair value. In January 2017, in connection with our restructuring efforts, we monetized $94.1 million in commodity hedges and used a portion of the proceeds to reduce the amounts outstanding under our Predecessor’s revolving credit facility and kept the remaining portion as cash on hand for general partnership purposes. We enter into natural gas derivative contracts that are indexed to NYMEX-Henry Hub. We also enter into oil derivative contracts indexed to either NYMEX-WTI or ICE Brent. Our NGL derivative contracts are primarily indexed to OPIS Mont Belvieu. At March 31, 2018, we had the following open commodity positions: Remaining 2018 2019 Natural Gas Derivative Contracts: Fixed price swap contracts: Average monthly volume (MMBtu) 1,802,000 1,250,000 Weighted-average fixed price $ 3.54 $ 2.82 Crude Oil Derivative Contracts: Fixed price swap contracts: Average monthly volume (Bbls) 205,000 186,000 Weighted-average fixed price $ 69.14 $ 54.08 NGL Derivative Contracts: Fixed price swap contracts: Average monthly volume (Bbls) 86,800 72,000 Weighted-average fixed price $ 25.85 $ 29.96 Balance Sheet Presentation The following table summarizes both: (i) the gross fair value of derivative instruments by the appropriate balance sheet classification even when the derivative instruments are subject to netting arrangements and qualify for net presentation in the balance sheet and (ii) the net recorded fair value as reflected on the balance sheet at March 31, 2018 and December 31, 2017. There was no cash collateral received or pledged associated with our derivative instruments since most of the counterparties, or certain of their affiliates, to our derivative contracts are lenders under our credit agreement. Successor Successor Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives March 31, March 31, December 31, December 31, Type Balance Sheet Location 2018 2018 2017 2017 (In thousands) Commodity contracts $ 27,009 $ 14,020 $ 37,729 $ 9,183 Gross fair value 27,009 14,020 37,729 9,183 Netting arrangements (11,347 ) (11,347 ) (9,183 ) (9,183 ) Net recorded fair value Short-term derivative instruments $ 15,662 $ 2,673 $ 28,546 $ — Commodity contracts $ 1,855 $ 7,100 $ 459 $ 5,929 Gross fair value 1,855 7,100 459 5,929 Netting arrangements (1,699 ) (1,699 ) (459 ) (459 ) Net recorded fair value Long-term derivative instruments $ 156 $ 5,401 $ — $ 5,470 (Gains) Losses on Derivatives We do not designate derivative instruments as hedging instruments for accounting and financial reporting purposes. Accordingly, all gains and losses, including changes in the derivative instruments’ fair values, have been recorded in the accompanying Unaudited Condensed Statements of Consolidated Operations. The following table details the gains and losses related to derivative instruments for the periods indicated (in thousands): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 (Gain) loss on commodity derivatives $ 10,456 $ (10,241 )

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Note 7. Asset Retirement Obligations The Company’s asset retirement obligations primarily relate to the Company’s portion of future plugging and abandonment costs for wells and related facilities. The following table presents the changes in the asset retirement obligations for the three months ended March 31, 2018 (in thousands): Asset retirement obligations at beginning of period (Successor) $ 100,173 Liabilities added from acquisition or drilling 53 Liabilities settled — Accretion expense 1,718 Revision of estimates (1) (13,407 ) Asset retirement obligation at end of period 88,537 Less: Current portion (438 ) Less: Current portion - Assets held for sale (275 ) Less: Long-term portion - Assets held for sale (15,409 ) Asset retirement obligations - long-term portion (Successor) $ 72,415 (1) The decrease in revision of estimates during the three months ended March 31, 2018 is primarily due to receiving new cost estimates from third parties regarding the estimated plugging and abandonment costs.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-Term Debt	Note 8. Long-Term Debt The following table presents our consolidated debt obligations at the dates indicated: Successor Successor March 31, December 31, 2018 2017 (In thousands) $1.0 billion Credit Facility, variable-rate, due March 2021 (1) $ 347,000 $ 376,000 Long-term debt $ 347,000 $ 376,000 (1) The carrying amount of our Credit Facility approximates fair value because the interest rates are variable and reflective of market rates. OLLC Revolving Credit Facility Amplify Energy Operating LLC, our wholly owned subsidiary, is a party to a $1.0 billion revolving credit facility (our “Credit Facility”) which is guaranteed by us and all of our current subsidiaries. Our borrowing base is subject to redetermination on at least a semi-annual basis primarily based on a reserve engineering report with respect to our estimated natural gas, oil and NGL reserves, which takes into account the prevailing natural gas, oil and NGL prices at such time, as adjusted for the impact of our commodity derivative contracts. The borrowing base as of March 31, 2018 was approximately $440.0 million. Predecessor’s Revolving Credit Facility Our Predecessor was a party to a $2.0 billion revolving credit facility, which was guaranteed by us and all of our current and future subsidiaries (other than certain immaterial subsidiaries). On the Effective Date of the Plan, the holders of claims under the Predecessor’s revolving credit facility received a full recovery, which included a $24.8 million pay down and their pro rata share of our Credit Facility. Weighted-Average Interest Rates The following table presents the weighted-average interest rates paid, excluding commitment fees, on our consolidated variable-rate debt obligations for the periods presented: Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 Credit Facility 5.48% n/a Predecessor's revolving credit facility n/a 4.13% Letters of Credit At March 31, 2018, we had $2.4 million of letters of credit outstanding, primarily related to operations at our Wyoming properties. Unamortized Deferred Financing Costs Unamortized deferred financing costs associated with our Credit Facility was $6.6 million at March 31, 2018. The unamortized deferred financing costs are amortized over the remaining life of our Credit Facility.

Equity (Deficit)

Equity (Deficit)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Equity (Deficit)	Note 9. Equity (Deficit) Common Stock The Company’s authorized capital stock includes 300,000,000 shares of common stock, $0.0001 par value per share. The following is a summary of the changes in our common stock issued for the three months ended March 31, 2018: Common Shares Balance, December 31, 2017 (Successor) 25,000,000 Issuance of common stock — Restricted stock units vested 23,200 Repurchase of common shares (23,200 ) Balance, March 31, 2018 (Successor) 25,000,000 Warrants On the Effective Date, the Company entered into a warrant agreement with American Stock Transfer & Trust Company, LLC, as warrant agent, pursuant to which the Company issued warrants to purchase up to 2,173,913 shares of the Company’s common stock (representing 8% of the Company’s outstanding common stock as of the Effective Date including shares of the Company’s common stock issuable upon full exercise of the warrants, but excluding any common stock issuable under the Management Incentive Plan (the “MIP”)), exercisable for a five-year period commencing on the Effective Date at an exercise price of $42.60 per share.

Earnings per Share_Unit

Earnings per Share/Unit	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings per Share/Unit	Note 10. Earnings per Share/Unit The following sets forth the calculation of earnings (loss) per share/unit, or EPS/EPU, for the periods indicated (in thousands, except per share/unit amounts): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 Net income (loss) attributable to Successor/Predecessor $ 3,239 $ (16,377 ) Less: Net income allocated to participating restricted stockholders (83 ) — Basic and diluted earnings available to common stockholders/limited partners $ 3,156 $ (16,377 ) Common shares/units: Common shares/units outstanding — basic 25,000 83,810 Dilutive effect of potential common shares/units — — Common shares/units outstanding — diluted 25,000 83,810 Net earnings per share/unit: Basic $ 0.13 $ (0.20 ) Diluted $ 0.13 $ (0.20 ) Antidilutive stock options (1) 513 — Antidilutive warrants (2) 2,174 — (1) Amount represents options to purchase common stock that are excluded from the diluted net earnings per share calculations because of their antidilutive effect. (2) Amount represents warrants to purchase common stock that are excluded from the diluted net earnings per share calculations because of their antidilutive effect.

Long-Term Incentive Plans

Long-Term Incentive Plans	3 Months Ended
	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Long-Term Incentive Plans	Note 11. Long-Term Incentive Plans On the Effective Date in connection with the Plan, the Company implemented the MIP for selected employees of the Company or its subsidiaries. An aggregate of 2,322,404 shares of the Company’s common stock were reserved for issuance under the MIP. MIP awards are granted in the form of nonqualified stock options, incentive stock options, restricted stock awards, restricted stock units, stock appreciation rights, performance awards, stock awards and other incentive awards. To the extent that an award under the MIP is expired, forfeited or cancelled for any reason without having been exercised in full, the unexercised award would then be available again for grant under the MIP. The MIP is administered by the board of directors of the Company (the “Board”). Restricted Stock Units The restricted stock units granted are accounted for as equity-classified awards. The grant-date fair value net of estimated forfeitures is recognized as compensation cost on a straight-line basis over the requisite service period. Compensation costs are recorded as general and administrative expense. The unrecognized cost associated with restricted stock unit awards was $6.2 million at March 31, 2018. We expect to recognize the unrecognized compensation cost for these awards over a weighted-average period of approximately 2.1 years. The following table summarizes information regarding the restricted stock unit awards granted under the MIP for the period presented: Weighted- Average Grant Number of Date Fair Value Units per Unit (1) Restricted stock units outstanding at December 31, 2017 (Successor) 682,792 $ 13.54 Granted — $ — Forfeited (14,893 ) $ 12.71 Vested (23,200 ) $ 13.77 Restricted stock units outstanding at March 31, 2018 (Successor) 644,699 $ 13.55 (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. 2017 Non-Employee Directors Compensation Plan In June 2017, in connection with the Plan, the Company implemented the 2017 Non-Employee Directors Compensation Plan (“Directors Compensation Plan”) to attract and retain services of experienced non-employee directors of the Company or its subsidiaries. An aggregate of 200,000 shares of the Company’s common stock are reserved for issuance under the Directors Compensation Plan. The restricted stock units granted are accounted for as equity-classified awards. The grant-date fair value net of estimated forfeitures is recognized as compensation cost on a straight-line basis over the requisite service period. Compensation costs are recorded as general and administrative expense. The unrecognized cost associated with restricted stock unit awards was $0.2 million at March 31, 2018. We expect to recognize the unrecognized compensation cost for these awards over a weighted-average period of approximately 2.2 years. The following table summarizes information regarding the restricted stock awards granted under the Directors Compensation Plan. Weighted- Average Grant Number of Date Fair Value Units per Unit (1) Restricted stock units outstanding at December 31, 2017 (Successor) 16,341 $ 13.77 Granted — $ — Forfeited — $ — Vested — $ — Restricted stock units outstanding at March 31, 2018 (Successor) 16,341 $ 13.77 (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. Restricted Stock Options The restricted stock options granted are accounted for as equity-classified awards. The grant-date fair value net of estimated forfeitures is recognized as compensation cost on a straight-line basis over the requisite service period. Compensation costs are recorded as general and administrative expense. The unrecognized cost associated with restricted stock option awards was $1.8 million at March 31, 2018. We expect to recognize the unrecognized compensation cost for these awards over a weighted-average period of approximately 2.1 years. No restricted stock options were granted during the three months ended March 31, 2018. The following table summarizes information regarding the restricted stock option awards granted under the MIP for the period presented: Weighted- Average Grant Number of Date Fair Value Options per Option (1) Restricted stock options outstanding at December 31, 2017 (Successor) 517,398 $ 5.01 Granted — $ — Forfeited (4,300 ) $ 5.01 Vested — $ — Restricted stock options outstanding at March 31, 2018 (Successor) 513,098 $ 5.01 (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. Compensation Expense The following table summarizes the amount of recognized compensation expense associated with the MIP and Memorial Production Partners GP LLC Long Term Incentive Plan awards that are reflected in the accompanying Unaudited Condensed Statements of Consolidated Operations for the periods presented (in thousands): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 Equity classified awards Restricted stock units (Successor) $ 967 $ — Restricted stock options (Successor) 209 — Restricted common units (Predecessor) — 1,069 Liability classified awards Phantom units (Predecessor) — 56 $ 1,176 $ 1,125

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Note 12. Related Party Transactions Related Party Agreements There have been no transactions in excess of $120,000 between us and a related person in which the related person had a direct or indirect material interest for the three months ended March 31, 2018 or 2017, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies Litigation and Environmental As part of our normal business activities, we may be named as defendants in litigation and legal proceedings, including those arising from regulatory and environmental matters. On January 13, 2017, the Company received a letter from the Environmental Protection Agency (“EPA”) concerning potential violations of the Clean Air Act (“CAA”) section 112(r) associated with our Bairoil complex in Wyoming. The Company met with the EPA on February 16, 2017 to present relevant information related to the allegations. On September 12, 2017, the EPA filed an Administrative Compliance Order on Consent for which the Company must bring all outstanding issues to closure no later than June 30, 2018. We currently cannot estimate the potential penalties, fines or other expenditures, if any, that may result from any EPA actions relating to the alleged violations and, therefore, we cannot determine if the ultimate outcome of this matter will have a material impact on the Company’s financial position, results of operations or cash flows. Other than the Chapter 11 proceedings and the alleged CAA violations discussed herein, based on facts currently available, we are not aware of any litigation, pending or threatened, that we believe will have a material adverse effect on our financial position, results of operations or cash flows; however, cash flow could be significantly impacted in the reporting periods in which such matters are resolved. Although we are insured against various risks to the extent we believe it is prudent, there is no assurance that the nature and amount of such insurance will be adequate, in every case, to indemnify us against liabilities arising from future legal proceedings. At March 31, 2018 and December 31, 2017, we had no environmental reserves recorded on our Unaudited Condensed Consolidated Balance Sheet. Supplemental Bond for Decommissioning Liabilities Trust Agreement Beta Operating Company, LLC, has an obligation with the BOEM in connection with its 2009 acquisition of our properties in offshore Southern California. The trust account had the required minimum balance of $152.0 million at March 31, 2018 and December 31, 2017 and is fully cash funded. The held-to-maturity investments held in the trust account at March 31, 2018 for the U.S. Bank money market cash equivalent was $152.3 million. In 2015, the Bureau of Safety and Environmental Enforcement issued a preliminary report that indicated the estimated costs of decommissioning may further increase. The implementation of this increase is currently on hold and we do not expect resolution of a negotiated decommissioning estimate until mid-2018.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 14. Income Taxes Effective May 5, 2017, pursuant to the Plan, the Successor became a corporation subject to federal and state income taxes. Prior to the Plan being effective, the Predecessor was a limited partnership and organized as a pass-through entity for federal and most state income tax purposes. As a result, our Predecessor limited partners were responsible for federal and state income taxes on their share of our taxable income. Certain of our consolidated subsidiaries were taxed as corporations for federal and state income tax purposes, which resulted in deferred taxes. We were also subject to the Texas margin tax for partnership activity in the state of Texas. The Company’s had no income tax benefit/(expense) for the three months ended March 31, 2018 and had an income tax benefit/(expense) of $0.1 million for the three months ended March 31, 2017. The Company’s effective tax rate was 0.0% and 0.6% for the three months ended March 31, 2018 and 2017, respectively. The effective tax rate for the three months ended March 31, 2018 is different from the statutory U.S. federal income tax rate primarily due to our existing valuation allowances. The effective tax rate for the three months ended March 31, 2017 is different from the statutory U.S. federal income tax rate primarily due to the Predecessor not being subject to U.S. federal income tax. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The provisions of the Tax Act that impact us include, but are not limited to, (1) reducing the U.S. federal corporate tax rate from 35% to 21%; (2) temporary bonus depreciation that will allow for full expensing of qualified property, (3) limitations on net operating losses (NOLs) generated after December 31, 2017, to 80 percent of taxable income, and (4) elimination of certain business deductions and credits, including the deduction for entertainment expenditures. In conjunction with the Tax Act, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (SAB 118), which allows us to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. We have reported provisional amounts for the income tax effects of the Tax Act for which the accounting is incomplete but a reasonable estimate could be determined. As of March 31, 2018, we have not changed the provisional amounts recorded in 2017. Based on a continued analysis of the estimates, revisions may occur during the allowable measurement period.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events Management Changes On May 1, 2018, the Company announced the retirement of William J. Scarff, the Company’s President and Chief Executive Officer and a member of the Board, effective as of the earlier of May 17, 2018 (or a later mutually agreed date) and (ii) the date on which his successor is appointed (the “CEO Retirement Date”), provided that he will continue to serve as a member of the Board. Also on May 1, 2018, the Company announced the departure of Christopher S. Cooper, Senior Vice President and Chief Operating Officer, and Robert L. Stillwell, Jr., Senior Vice President and Chief Financial Officer, from their respective positions with the Company effective April 27, 2018. There were no disagreements between the Company and any of Messrs. Scarff, Cooper or Stillwell (collectively, the “Departing Executives”) which led to their retirement or separation (as applicable) from the Company. On April 27, 2018, the Board appointed Martyn Willsher to serve as Senior Vice President and Chief Financial Officer of the Company effective April 27, 2018. On May 4, 2018, the Board appointed Kenneth Mariani to serve as President and Chief Executive Officer of the Company effective May 14, 2018. Retirement and Separation Agreements with Certain Officers In connection with his retirement from his positions as President and Chief Executive Officer of the Company, Mr. Scarff and the Company entered into a retirement agreement (the “Retirement Agreement”) on April 27, 2018. In addition, on April 27, 2018, the Company entered into separation agreements with each of Messrs. Cooper and Stillwell (each, a “Separation Agreement,” and collectively with the Retirement Agreement, the “Agreements”). Pursuant to their respective Agreements, each Departing Executive provided irrevocable releases of claims in favor of the Company and its affiliates and related persons and entities through the date signed, and also acknowledged existing restrictive covenants with the Company, including non-competition, non-solicitation and confidentiality covenants. In addition, pursuant to their respective Agreements: (i) prior to the CEO Retirement Date, Mr. Scarff will continue to receive his current base salary and will remain eligible to participate in the Company’s retirement and health and welfare plans in accordance with the terms and conditions of such plans; (ii) subject to certain conditions, each Departing Executive will receive retirement or separation payments (as applicable) consisting of: (A) the cash severance payment and other amounts due to him under his respective severance agreement with the Company; (B) accelerated vesting of his option to purchase the number of shares of the Company’s common stock as previously granted to him under the MIP; and (C) subject to certain limitations and transfer restrictions, the right to elect to receive either an additional cash payment as set forth in the table below (less applicable withholdings and deductions) or the number of shares of the Company’s common stock as set forth in the table below; and (iii) subject to limited exceptions, the Departing Executives will no longer be eligible to vest in the restricted stock unit awards previously granted to them under the MIP. Election to Receive Either Departing Executives Additional Cash Payment Shares of Common Stock William J. Scarff $ 296,594 41,951 Christopher S. Cooper $ 207,384 29,333 Robert L. Stillwell, Jr. $ 155,540 22,000 The foregoing description of the Retirement Agreement and Separation Agreements does not purport to be complete and is qualified in its entirety by reference to the Retirement Agreement and Separation Agreements, which will be filed as exhibits to the Company’s Quarterly Report on Form 10-Q for the three months ending June 30, 2018. In addition, investors should review the form of severance agreement, which is filed as Exhibit 10.16 to the 2017 Form 10-K. Grants of Restricted Stock Units On April 27, 2018, the Board approved grants of restricted stock unit awards (the “Awards”) to certain of the Company’s executive officers under the MIP. Subject to the terms and conditions of the applicable award agreements, the Awards will generally vest annually in three equal installments on each of the first three anniversaries of the grant date, subject to the grantee’s continued employment through each such vesting date. The number of restricted stock units issuable to the Company’s executive officers under the applicable award agreements is set forth below: Executive Officers Restricted Stock Units Martyn Willsher Senior Vice President and Chief Financial Officer 11,500 Matthew J. Hoss Vice President and Chief Accounting Officer 10,000 Richard P. Smiley Vice President of Operations - Onshore 10,000 The foregoing description of the Awards does not purport to be complete and is qualified in its entirety by reference to the MIP and the form of restricted stock unit award agreement, which are filed as Exhibits 10.8 and 10.10, respectively, to the 2017 Form 10-K. Application for Final Decree On April 30, 2018, the Debtors filed with the Bankruptcy Court a motion for a final decree and entry of an order closing the chapter 11 cases with respect to each of the Debtors other than (i) San Pedro Bay Pipeline Company, Ch. 11 Case No. 17-30249, (ii) Rise Energy Beta, LLC, Ch. 11 Case No. 17-30250, and (iii) Beta Operating Company, LLC, Ch. 11 Case No. 17-30253. A hearing to consider approval of the motion has been scheduled for June 18, 2018.

Organization and Basis of Pre22

Organization and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
General	General When referring to Amplify Energy Corp. (formerly known as Memorial Production Partners LP and also referred to as “Successor,” “Amplify Energy,” or the “Company”), the intent is to refer to Amplify Energy, a newly formed Delaware corporation, and its consolidated subsidiaries as a whole or on an individual basis, depending on the context in which the statements are made. Amplify Energy is the successor reporting company of Memorial Production Partners LP (“MEMP”) pursuant to Rule 15d-5 of the Securities Exchange Act of 1934, as amended. When referring to the “Predecessor” or the “Company” in reference to the period prior to the emergence from bankruptcy, the intent is to refer to MEMP, the predecessor that was dissolved following the effective date of the Plan (as defined below) and its consolidated subsidiaries as a whole or on an individual basis, depending on the context in which the statements are made. We operate in one reportable segment engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Our management evaluates performance based on one reportable business segment as the economic environments are not different within the operation of our oil and natural gas properties. Our assets consist primarily of producing oil and natural gas properties and are located in Texas, Louisiana, Wyoming and offshore Southern California. Most of our oil and natural gas properties are located in large, mature oil and natural gas reservoirs. The Company’s properties consist primarily of operated and non-operated working interests in producing and undeveloped leasehold acreage and working interests in identified producing wells.
Emergence from Voluntary Reorganization under Chapter 11	Emergence from Voluntary Reorganization under Chapter 11 On January 16, 2017 (the “Petition Date”), MEMP and certain of its subsidiaries (collectively with MEMP, the “Debtors”) filed voluntary petitions (the cases commenced thereby, the “Chapter 11 proceedings”) under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code” or “Chapter 11”) in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Bankruptcy Court”). The Debtors’ Chapter 11 proceedings were jointly administered under the caption In re: Memorial Production Partners LP, et al.
Basis of Presentation	Basis of Presentation Our Unaudited Condensed Consolidated Financial Statements included herein have been prepared pursuant to the rules and guidelines of the Securities and Exchange Commission (the “SEC”). The results reported in these Unaudited Condensed Consolidated Financial Statements should not necessarily be taken as indicative of results that may be expected for the entire year. In our opinion, the accompanying Unaudited Condensed Consolidated Financial Statements include all adjustments of a normal recurring nature necessary for fair presentation. Although we believe the disclosures in these financial statements are adequate and make the information presented not misleading, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the SEC. The Unaudited Condensed Consolidated Financial Statements have been prepared as if the Company is a going concern and reflect the application of Accounting Standards Codification 852 “Reorganizations” (“ASC 852”). ASC 852 requires that the financial statements, for periods subsequent to the Chapter 11 filing, distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Accordingly, certain expenses, gains and losses that were realized or incurred in the bankruptcy proceedings are recorded in “reorganization items, net” on the Company’s Unaudited Condensed Statements of Consolidated Operations. All material intercompany transactions and balances have been eliminated in preparation of our consolidated financial statements.
Comparability of Financial Statements to Prior Periods	Comparability of Financial Statements to Prior Periods We adopted and applied the relevant guidance provided in GAAP with respect to the accounting and financial statement disclosures for entities that have emerged from bankruptcy proceedings (“Fresh Start Accounting”), on May 4, 2017. Accordingly, our Unaudited Condensed Consolidated Financial Statements and Notes after May 4, 2017, are not comparable to the Unaudited Condensed Consolidated Financial Statements and Notes prior to that date. To facilitate our financial statement presentations, we refer to the reorganized company in these Unaudited Condensed Consolidated Financial Statements and Notes as the “Successor” for periods subsequent to May 4, 2017 and “Predecessor” for periods prior to May 5, 2017. Furthermore, our Unaudited Condensed Consolidated Financial Statements and Notes have been presented with a “black line” division to delineate the lack of comparability between the Predecessor and Successor.
Use of Estimates	Use of Estimates The preparation of the accompanying Unaudited Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include, but are not limited to, oil and natural gas reserves; depreciation, depletion, and amortization of proved oil and natural gas properties; future cash flows from oil and natural gas properties; impairment of long-lived assets; fair value of derivatives; fair value of equity compensation; fair values of assets acquired and liabilities assumed in business combinations and asset retirement obligations.
Accrued Liabilities	Accrued Liabilities Current accrued liabilities consisted of the following at the dates indicated (in thousands): Successor Successor March 31, December 31, 2018 2017 Accrued lease operating expense $ 7,840 $ 6,439 Accrued capital expenditures 4,591 3,854 Accrued general and administrative expense 3,515 4,412 Accrued ad valorem tax 754 398 Asset retirement obligation 438 713 Accrued interest payable 166 1,309 Other — 1,108 Accrued liabilities $ 17,304 $ 18,233
Cash and Cash Equivalents Reconciliation	The following table provides a reconciliation of cash and cash equivalents on the Unaudited Condensed Consolidated Balance Sheet to cash, cash equivalents and restricted cash on the Unaudited Condensed Statements of Consolidated Cash Flows (in thousands): Successor Successor March 31, December 31, 2018 2017 Cash and cash equivalents $ 5,717 $ 6,392 Restricted cash 325 — Total cash, cash equivalents and restricted cash $ 6,042 $ 6,392
Supplemental Cash Flows	Supplemental Cash Flows Supplemental cash flows for the periods presented (in thousands): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 Supplemental cash flows: Cash paid for interest, net of amounts capitalized $ 6,028 $ 4,777 Cash paid for reorganization items, net 656 3,887 Noncash investing and financing activities: Increase (decrease) in capital expenditures in payables and accrued liabilities 1,890 912
Revenue Recognition	Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued guidance regarding the accounting for revenue from contracts with customers. This standard includes a five-step revenue recognition model to depict the transfer of goods or services to customers in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Among other things, the standard also eliminates industry-specific revenue guidance and requires enhanced disclosures related to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The standard was effective for the Company starting January 1, 2018, and the Company adopted the standard using a modified retrospective approach. See Note 3 for additional information.
New Accounting Pronouncements	New Accounting Pronouncements Statement of Cash Flows – Restricted Cash a consensus of the FASB Emerging Issues Task Force . In November 2016, the FASB issued an accounting standards update to clarify the guidance on the classification and presentation of restricted cash in the statement of cash flows. The changes in restricted cash and restricted cash equivalents that result from the transfers between cash, cash equivalents, and restricted cash and restricted cash equivalents should not be presented as cash flow activities in the statement of cash flows. The new guidance is effective for reporting periods beginning after December 15, 2017 and interim periods within those fiscal years. The new guidance requires transition under a retrospective approach for each period presented. The Company adopted this guidance as of January 1, 2018, noting the impact of adopting this guidance was not material to the Company’s financial statements and related disclosures. Leases. In February 2016, the FASB issued a revision to lease accounting guidance. The FASB retained a dual model, requiring leases to be classified as either direct financing or operating leases. The classification will be based on criteria that are similar to the current lease accounting treatment. The revised guidance requires lessees to recognize a right-of-use asset and lease liability for all leasing transactions regardless of classification. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. The amendments are effective for financial statements issued for annual periods beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted for all entities as of the beginning of an interim or annual reporting period. The Company is the lessee under various agreements for office space, compressors, equipment, and surface rentals that are currently accounted for as operating leases. As a result, these new rules will increase reported assets and liabilities. The Company will not early adopt this standard. The Company will apply the revised lease rules for our interim and annual reporting periods starting January 1, 2019 using a modified retrospective approach, including several optional practical expedients related to leases commenced before the effective date. The Company is currently evaluating the impact of these rules on its financial statements and has started the assessment process by evaluating the population of leases under the revised definition. The quantitative impacts of the new standard are dependent on the leases in place at the time of adoption. As a result, the evaluation of the effect of the new standards will extend over future periods. Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations and cash flows.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Current Accrued Liabilities	Current accrued liabilities consisted of the following at the dates indicated (in thousands): Successor Successor March 31, December 31, 2018 2017 Accrued lease operating expense $ 7,840 $ 6,439 Accrued capital expenditures 4,591 3,854 Accrued general and administrative expense 3,515 4,412 Accrued ad valorem tax 754 398 Asset retirement obligation 438 713 Accrued interest payable 166 1,309 Other — 1,108 Accrued liabilities $ 17,304 $ 18,233
Summary of Cash and Cash Equivalents Reconcilation	The following table provides a reconciliation of cash and cash equivalents on the Unaudited Condensed Consolidated Balance Sheet to cash, cash equivalents and restricted cash on the Unaudited Condensed Statements of Consolidated Cash Flows (in thousands): Successor Successor March 31, December 31, 2018 2017 Cash and cash equivalents $ 5,717 $ 6,392 Restricted cash 325 — Total cash, cash equivalents and restricted cash $ 6,042 $ 6,392
Summary of Supplemental Cash Flows	Supplemental cash flows for the periods presented (in thousands): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 Supplemental cash flows: Cash paid for interest, net of amounts capitalized $ 6,028 $ 4,777 Cash paid for reorganization items, net 656 3,887 Noncash investing and financing activities: Increase (decrease) in capital expenditures in payables and accrued liabilities 1,890 912
Schedule of Reorganization Items, Net	The following table summarizes the components of reorganization items, net included in the accompanying Unaudited Condensed Statements of Consolidated Operations (in thousands): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 Professional fees $ (414 ) $ (7,585 ) Other (104 ) (68 ) Reorganization items, net $ (518 ) $ (7,653 )

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Summary of Revenues Disaggregated	We have identified three material revenue streams in our business: oil, natural gas and NGLs. The following table present our revenues disaggregated by revenue stream. For the Three Months Ended March 31, 2018 (in thousands) Revenues Oil $ 54,726 NGLs 10,946 Natural gas 22,175 Oil and natural gas sales $ 87,847
ASC 606 [Member]
Summary of Oil and Gas Operating Income (Loss)	Although the adoption of ASC 606 did not have an impact on the Company’s net income or cash flows, it did result in the reclassification of fees incurred under certain gathering and gas processing agreements. Such reclassification led to an overall decrease in oil and natural gas sales with a corresponding decrease in gathering, processing and transportation as follows (in thousands): For the Three Months Ended March 31, 2018 As Reported Previous Revenue Recognition Method Increase/ (Decrease) (in thousands) Revenues: Oil and natural gas sales $ 87,847 $ 88,698 $ (851 ) Cost and expenses: Gathering, processing and transportation 5,600 6,451 (851 ) Net income (loss) $ 3,239 $ 3,239 $ —

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisition and Divestiture Related Expenses	Acquisition and divestiture related expenses for both related party and third party transactions are included in general and administrative expense in the accompanying Unaudited Condensed Statements of Consolidated Operations for the periods indicated below (in thousands): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 $ 208 $ —
Summary of Major Categories of Assets and Liabilities Held for Sale	The major categories of assets and liabilities were: Successor March 31, 2018 (In thousands) Assets classified as held for sale Accounts receivable $ 2,036 Property and equipment, at cost: Oil and natural gas properties, successful efforts method 39,057 Accumulated depreciation, depletion, and impairment (5,124 ) Property and equipment, net 33,933 Total assets classified as held for sale $ 35,969 Liabilities associated with assets held for sale Current liabilities: Revenue payable $ (517 ) Accrued liabilities (585 ) Total current liabilities (1,102 ) Asset retirement obligations (15,409 ) Total liabilities associated with assets held for sale $ (16,511 )

Fair Value Measurements of Fi26

Fair Value Measurements of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents the gross derivative assets and liabilities that are measured at fair value on a recurring basis at March 31, 2018 and December 31, 2017 for each of the fair value hierarchy levels: Successor Fair Value Measurements at March 31, 2018 Using Quoted Prices in Significant Other Significant Active Market Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Fair Value (In thousands) Assets: Commodity derivatives $ — $ 28,864 $ — $ 28,864 Liabilities: Commodity derivatives $ — $ 21,120 $ — $ 21,120 Successor Fair Value Measurements at December 31, 2017 Using Quoted Prices in Significant Other Significant Active Market Observable Inputs Unobservable Inputs (Level 1) (Level 2) (Level 3) Fair Value (In thousands) Assets: Commodity derivatives $ — $ 38,188 $ — $ 38,188 Liabilities: Commodity derivatives $ — $ 15,112 $ — $ 15,112

Risk Management and Derivativ27

Risk Management and Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Open Commodity Positions	At March 31, 2018, we had the following open commodity positions: Remaining 2018 2019 Natural Gas Derivative Contracts: Fixed price swap contracts: Average monthly volume (MMBtu) 1,802,000 1,250,000 Weighted-average fixed price $ 3.54 $ 2.82 Crude Oil Derivative Contracts: Fixed price swap contracts: Average monthly volume (Bbls) 205,000 186,000 Weighted-average fixed price $ 69.14 $ 54.08 NGL Derivative Contracts: Fixed price swap contracts: Average monthly volume (Bbls) 86,800 72,000 Weighted-average fixed price $ 25.85 $ 29.96
Gross Fair Value of Derivative Instruments by Appropriate Balance Sheet	The following table summarizes both: (i) the gross fair value of derivative instruments by the appropriate balance sheet classification even when the derivative instruments are subject to netting arrangements and qualify for net presentation in the balance sheet and (ii) the net recorded fair value as reflected on the balance sheet at March 31, 2018 and December 31, 2017. There was no cash collateral received or pledged associated with our derivative instruments since most of the counterparties, or certain of their affiliates, to our derivative contracts are lenders under our credit agreement. Successor Successor Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives March 31, March 31, December 31, December 31, Type Balance Sheet Location 2018 2018 2017 2017 (In thousands) Commodity contracts $ 27,009 $ 14,020 $ 37,729 $ 9,183 Gross fair value 27,009 14,020 37,729 9,183 Netting arrangements (11,347 ) (11,347 ) (9,183 ) (9,183 ) Net recorded fair value Short-term derivative instruments $ 15,662 $ 2,673 $ 28,546 $ — Commodity contracts $ 1,855 $ 7,100 $ 459 $ 5,929 Gross fair value 1,855 7,100 459 5,929 Netting arrangements (1,699 ) (1,699 ) (459 ) (459 ) Net recorded fair value Long-term derivative instruments $ 156 $ 5,401 $ — $ 5,470
Unrealized and Realized Gains and Losses Related to Derivative Instruments	The following table details the gains and losses related to derivative instruments for the periods indicated (in thousands): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 (Gain) loss on commodity derivatives $ 10,456 $ (10,241 )

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Summary of Changes in Asset Retirement Obligations	The Company’s asset retirement obligations primarily relate to the Company’s portion of future plugging and abandonment costs for wells and related facilities. The following table presents the changes in the asset retirement obligations for the three months ended March 31, 2018 (in thousands): Asset retirement obligations at beginning of period (Successor) $ 100,173 Liabilities added from acquisition or drilling 53 Liabilities settled — Accretion expense 1,718 Revision of estimates (1) (13,407 ) Asset retirement obligation at end of period 88,537 Less: Current portion (438 ) Less: Current portion - Assets held for sale (275 ) Less: Long-term portion - Assets held for sale (15,409 ) Asset retirement obligations - long-term portion (Successor) $ 72,415 (1) The decrease in revision of estimates during the three months ended March 31, 2018 is primarily due to receiving new cost estimates from third parties regarding the estimated plugging and abandonment costs.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Consolidated Debt Obligations	The following table presents our consolidated debt obligations at the dates indicated: Successor Successor March 31, December 31, 2018 2017 (In thousands) $1.0 billion Credit Facility, variable-rate, due March 2021 (1) $ 347,000 $ 376,000 Long-term debt $ 347,000 $ 376,000 (1) The carrying amount of our Credit Facility approximates fair value because the interest rates are variable and reflective of market rates.
Summary of Weighted-Average Interest Rates Paid Excluding Commitment Fees on Variable-Rate Debt Obligations	The following table presents the weighted-average interest rates paid, excluding commitment fees, on our consolidated variable-rate debt obligations for the periods presented: Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 Credit Facility 5.48% n/a Predecessor's revolving credit facility n/a 4.13%

Equity (Deficit) (Tables)

Equity (Deficit) (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Summary of Changes in Common Stock Issued	The following is a summary of the changes in our common stock issued for the three months ended March 31, 2018: Common Shares Balance, December 31, 2017 (Successor) 25,000,000 Issuance of common stock — Restricted stock units vested 23,200 Repurchase of common shares (23,200 ) Balance, March 31, 2018 (Successor) 25,000,000

Earnings per Share_Unit (Tables

Earnings per Share/Unit (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Calculation of Earnings (Loss) Per Share/Unit	The following sets forth the calculation of earnings (loss) per share/unit, or EPS/EPU, for the periods indicated (in thousands, except per share/unit amounts): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 Net income (loss) attributable to Successor/Predecessor $ 3,239 $ (16,377 ) Less: Net income allocated to participating restricted stockholders (83 ) — Basic and diluted earnings available to common stockholders/limited partners $ 3,156 $ (16,377 ) Common shares/units: Common shares/units outstanding — basic 25,000 83,810 Dilutive effect of potential common shares/units — — Common shares/units outstanding — diluted 25,000 83,810 Net earnings per share/unit: Basic $ 0.13 $ (0.20 ) Diluted $ 0.13 $ (0.20 ) Antidilutive stock options (1) 513 — Antidilutive warrants (2) 2,174 — (1) Amount represents options to purchase common stock that are excluded from the diluted net earnings per share calculations because of their antidilutive effect. (2) Amount represents warrants to purchase common stock that are excluded from the diluted net earnings per share calculations because of their antidilutive effect.

Long-Term Incentive Plans (Tabl

Long-Term Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Stock Option Awards	The following table summarizes information regarding the restricted stock option awards granted under the MIP for the period presented: Weighted- Average Grant Number of Date Fair Value Options per Option (1) Restricted stock options outstanding at December 31, 2017 (Successor) 517,398 $ 5.01 Granted — $ — Forfeited (4,300 ) $ 5.01 Vested — $ — Restricted stock options outstanding at March 31, 2018 (Successor) 513,098 $ 5.01 (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.
Summary of Amount of Compensation Expense Recognized	The following table summarizes the amount of recognized compensation expense associated with the MIP and Memorial Production Partners GP LLC Long Term Incentive Plan awards that are reflected in the accompanying Unaudited Condensed Statements of Consolidated Operations for the periods presented (in thousands): Successor Predecessor For the Three For the Three Months Ended Months Ended March 31, 2018 March 31, 2017 Equity classified awards Restricted stock units (Successor) $ 967 $ — Restricted stock options (Successor) 209 — Restricted common units (Predecessor) — 1,069 Liability classified awards Phantom units (Predecessor) — 56 $ 1,176 $ 1,125
Management Incentive Plan [Member] | Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Information Regarding Restricted Stock Unit Awards	The following table summarizes information regarding the restricted stock unit awards granted under the MIP for the period presented: Weighted- Average Grant Number of Date Fair Value Units per Unit (1) Restricted stock units outstanding at December 31, 2017 (Successor) 682,792 $ 13.54 Granted — $ — Forfeited (14,893 ) $ 12.71 Vested (23,200 ) $ 13.77 Restricted stock units outstanding at March 31, 2018 (Successor) 644,699 $ 13.55 (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.
Two Thousand Seventeen Non Employee Directors Compensation Plan | Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Information Regarding Restricted Stock Unit Awards	The following table summarizes information regarding the restricted stock awards granted under the Directors Compensation Plan. Weighted- Average Grant Number of Date Fair Value Units per Unit (1) Restricted stock units outstanding at December 31, 2017 (Successor) 16,341 $ 13.77 Granted — $ — Forfeited — $ — Vested — $ — Restricted stock units outstanding at March 31, 2018 (Successor) 16,341 $ 13.77 (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.

Subsequent Events (Tables)

Subsequent Events (Tables)	3 Months Ended
	Mar. 31, 2018
Departing Executives [Member]
Subsequent Event [Line Items]
Summary of Departing Executives Deferred Compensation	Election to Receive Either Departing Executives Additional Cash Payment Shares of Common Stock William J. Scarff $ 296,594 41,951 Christopher S. Cooper $ 207,384 29,333 Robert L. Stillwell, Jr. $ 155,540 22,000
Executive Officers [Member]
Subsequent Event [Line Items]
Summary of Restricted Stock Units Issuable to the Company's Executive Officers Under Award Agreements	The number of restricted stock units issuable to the Company’s executive officers under the applicable award agreements is set forth below: Executive Officers Restricted Stock Units Martyn Willsher Senior Vice President and Chief Financial Officer 11,500 Matthew J. Hoss Vice President and Chief Accounting Officer 10,000 Richard P. Smiley Vice President of Operations - Onshore 10,000

Organization and Basis of Pre34

Organization and Basis of Presentation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018Segment
Accounting Policies [Abstract]
Number of reportable business segments	1

Summary of Significant Accoun35

Summary of Significant Accounting Policies - Summary of Current Accrued Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accrued Liabilities Current [Abstract]
Accrued lease operating expense	$ 7,840	$ 6,439
Accrued capital expenditures	4,591	3,854
Accrued general and administrative expense	3,515	4,412
Accrued ad valorem tax	754	398
Asset retirement obligation	438	713
Accrued interest payable	166	1,309
Other	0	1,108
Accrued liabilities	$ 17,304	$ 18,233

Summary of Significant Accoun36

Summary of Significant Accounting Policies - Summary of Cash and Cash Equivalents Reconciliation (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Cash And Cash Equivalents [Abstract]
Cash and cash equivalents	$ 5,717	$ 6,392
Restricted cash	325	0
Total cash, cash equivalents and restricted cash	$ 6,042	$ 6,392

Summary of Significant Accoun37

Summary of Significant Accounting Policies - Summary of Supplemental Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Supplemental cash flows:
Cash paid for interest, net of amounts capitalized	$ 6,028
Cash paid for reorganization items, net	656
Noncash investing and financing activities:
Increase (decrease) in capital expenditures in payables and accrued liabilities	$ 1,890
Predecessor [Member]
Supplemental cash flows:
Cash paid for interest, net of amounts capitalized		$ 4,777
Cash paid for reorganization items, net		3,887
Noncash investing and financing activities:
Increase (decrease) in capital expenditures in payables and accrued liabilities		$ 912

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Schedule of Reorganization Items, net (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fresh Start Adjustment [Line Items]
Professional fees	$ (414)
Other	(104)
Reorganization items, net	$ (518)
Predecessor [Member]
Fresh Start Adjustment [Line Items]
Professional fees		$ (7,585)
Other		(68)
Reorganization items, net		$ (7,653)

Revenue - Summary of Impact of

Revenue - Summary of Impact of Adoption of ASC 606 (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Revenues:
Oil and natural gas sales	$ 87,847
Costs and expenses:
Gathering, processing and transportation	5,600
Net income (loss)	3,239
ASC 606 [Member] | Previous Revenue Recognition Method [Member]
Revenues:
Oil and natural gas sales	88,698
Costs and expenses:
Gathering, processing and transportation	6,451
Net income (loss)	3,239
ASC 606 [Member] | Increase/ (Decrease) Due to ASC 606 [Member]
Revenues:
Oil and natural gas sales	(851)
Costs and expenses:
Gathering, processing and transportation	(851)
Net income (loss)	$ 0

Revenue - Summary of Revenues D

Revenue - Summary of Revenues Disaggregated (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Revenues:
Oil and natural gas sales	$ 87,847
Oil [Member]
Revenues:
Oil and natural gas sales	54,726
NGLs [Member]
Revenues:
Oil and natural gas sales	10,946
Natural Gas [Member]
Revenues:
Oil and natural gas sales	$ 22,175

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Revenue From Contract With Customer [Abstract]
Accounts receivable attributable to revenue contracts with customers	$ 29.4	$ 30.1
Reclassification to assets held for sale	$ 1.1

Acquisitions and Divestitures -

Acquisitions and Divestitures - Acquisition and Divestiture Related Expenses (Detail) - General and Administrative Expense [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Business Acquisition and Divestiture, Related Expenses	$ 208
Predecessor [Member]
Business Acquisition [Line Items]
Business Acquisition and Divestiture, Related Expenses		$ 0

Acquisitions and Divestitures43

Acquisitions and Divestitures - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Business Combinations [Abstract]
(Gain) loss on sale of properties	$ 2.4

Acquisitions and Divestitures44

Acquisitions and Divestitures - Summary of Major Categories of Assets and Liabilities Held for Sale (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets classified as held for sale
Accounts receivable	$ 2,036
Property and equipment, at cost:
Oil and natural gas properties, successful efforts method	39,057
Accumulated depreciation, depletion, and impairment	(5,124)
Property and equipment, net	33,933
Total assets classified as held for sale	35,969
Current liabilities:
Revenue payable	(517)
Accrued liabilities	(585)
Total current liabilities	(1,102)	$ 0
Asset retirement obligations	(15,409)
Total liabilities associated with assets held for sale	$ (16,511)

Fair Value Measurements of Fi45

Fair Value Measurements of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value [Member] - Commodity derivatives [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Assets	$ 28,864	$ 38,188
Liabilities	21,120	15,112
Quoted Prices in Active Market (Level 1) [Member]
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Assets	0	0
Liabilities	0	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Assets	28,864	38,188
Liabilities	21,120	15,112
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Assets	0	0
Liabilities	$ 0	$ 0

Fair Value Measurements of Fi46

Fair Value Measurements of Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Assets And Liabilities Carrying Value And Fair Value [Line Items]
Impairment of proved oil and natural gas properties	$ 0
Predecessor [Member]
Assets And Liabilities Carrying Value And Fair Value [Line Items]
Impairment of proved oil and natural gas properties		$ 0

Risk Management and Derivativ47

Risk Management and Derivative Instruments - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2017	Mar. 31, 2018
Derivative Instruments Gain Loss [Line Items]
Counterparty exposure		$ 0
Conditional rights of set-off under ISDA Master Agreement reduce the maximum amount of loss due to credit risk		$ 13.9
Commodity derivatives [Member]
Derivative Instruments Gain Loss [Line Items]
Cash settlement receipt	$ 94.1

Risk Management and Derivativ48

Risk Management and Derivative Instruments - Open Commodity Positions (Detail)	3 Months Ended
	Mar. 31, 2018MMBTU$ / MMBTU$ / bblbbl
Natural Gas Derivative Contracts Fixed Price Swap 2018 [Member]
Derivative [Line Items]
Average monthly volume (MMBtu) | MMBTU	1,802,000
Weighted-average fixed price | $ / MMBTU	3.54
Crude Oil Derivative Contracts Fixed Price Swap 2018 [Member]
Derivative [Line Items]
Average monthly volume (Bbls) | bbl	205,000
Weighted-average fixed price | $ / bbl	69.14
NGL Derivative Contracts Fixed Price Swap 2018 [Member]
Derivative [Line Items]
Average monthly volume (Bbls) | bbl	86,800
Weighted-average fixed price | $ / bbl	25.85
Natural Gas Derivative Contracts Fixed Price Swap 2019 [Member]
Derivative [Line Items]
Average monthly volume (MMBtu) | MMBTU	1,250,000
Weighted-average fixed price | $ / MMBTU	2.82
Crude Oil Derivative Contracts Fixed Price Swap 2019 [Member]
Derivative [Line Items]
Average monthly volume (Bbls) | bbl	186,000
Weighted-average fixed price | $ / bbl	54.08
NGL Derivative Contracts Fixed Price Swap Contracts 2019 [Member]
Derivative [Line Items]
Average monthly volume (Bbls) | bbl	72,000
Weighted-average fixed price | $ / bbl	29.96

Risk Management and Derivativ49

Risk Management and Derivative Instruments - Gross Fair Value of Derivative Instruments by Appropriate Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivative Instruments and Hedges, Assets [Abstract]
Asset Derivatives, Net recorded fair value	$ 15,662	$ 28,546
Asset Derivatives, Net recorded fair value	156	0
Liability Derivatives, Net recorded fair value	2,673	0
Liability Derivatives, Net recorded fair value	5,401	5,470
Short-Term Derivative Instruments [Member]
Derivative Instruments and Hedges, Assets [Abstract]
Asset Derivatives, Gross fair value	27,009	37,729
Asset Derivatives, Netting arrangements	(11,347)	(9,183)
Asset Derivatives, Net recorded fair value	15,662	28,546
Liability Derivatives, Gross fair value	14,020	9,183
Liability Derivatives, Netting arrangements	(11,347)	(9,183)
Liability Derivatives, Net recorded fair value	2,673	0
Short-Term Derivative Instruments [Member] | Commodity derivatives [Member]
Derivative Instruments and Hedges, Assets [Abstract]
Asset Derivatives, Gross fair value	27,009	37,729
Liability Derivatives, Gross fair value	14,020	9,183
Long-Term Derivative Instruments [Member]
Derivative Instruments and Hedges, Assets [Abstract]
Asset Derivatives, Gross fair value	1,855	459
Asset Derivatives, Netting arrangements	(1,699)	(459)
Asset Derivatives, Net recorded fair value	156	0
Liability Derivatives, Gross fair value	7,100	5,929
Liability Derivatives, Netting arrangements	(1,699)	(459)
Liability Derivatives, Net recorded fair value	5,401	5,470
Long-Term Derivative Instruments [Member] | Commodity derivatives [Member]
Derivative Instruments and Hedges, Assets [Abstract]
Asset Derivatives, Gross fair value	1,855	459
Liability Derivatives, Gross fair value	$ 7,100	$ 5,929

Risk Management and Derivativ50

Risk Management and Derivative Instruments - Unrealized and Realized Gains and Losses Related to Derivative Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments Gain Loss [Line Items]
(Gain) loss on commodity derivative instruments	$ 10,456
Predecessor [Member]
Derivative Instruments Gain Loss [Line Items]
(Gain) loss on commodity derivative instruments		$ (10,241)
Commodity derivatives [Member]
Derivative Instruments Gain Loss [Line Items]
(Gain) loss on commodity derivative instruments	$ 10,456
Commodity derivatives [Member] | Predecessor [Member]
Derivative Instruments Gain Loss [Line Items]
(Gain) loss on commodity derivative instruments		$ (10,241)

Asset Retirement Obligations -

Asset Retirement Obligations - Summary of Changes in Asset Retirement Obligations (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations at beginning of period		$ 100,173
Liabilities added from acquisition or drilling		53
Liabilities settled		0
Accretion expense		1,718
Revision of estimates	[1]	(13,407)
Asset retirement obligation at end of period		88,537
Less: Current portion		(438)	$ (713)
Less: Current portion - Assets held for sale		(275)
Less: Long-term portion - Assets held for sale		(15,409)
Asset retirement obligations		$ 72,415	$ 99,460
[1]	The decrease in revision of estimates during the three months ended March 31, 2018 is primarily due to receiving new cost estimates from third parties regarding the estimated plugging and abandonment costs.

Long-Term Debt - Consolidated D

Long-Term Debt - Consolidated Debt Obligations (Detail) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt		$ 347,000	$ 376,000
$1.0 billion Credit Facility, variable-rate, due March 2021 [Member]
Debt Instrument [Line Items]
Aggregate principal outstanding	[1]	$ 347,000	$ 376,000
[1]	The carrying amount of our Credit Facility approximates fair value because the interest rates are variable and reflective of market rates.

Long-Term Debt - Consolidated53

Long-Term Debt - Consolidated Debt Obligations (Parenthetical) (Detail) - $1.0 billion Credit Facility, variable-rate, due March 2021 [Member]	3 Months Ended
	Mar. 31, 2018USD ($)
Debt Instrument [Line Items]
Revolving credit facility	$ 1,000,000,000
Maturity date	Mar. 31, 2021

Long-Term Debt - Credit Facilit

Long-Term Debt - Credit Facility - Additional Information (Detail) - USD ($)	May 04, 2017	Mar. 31, 2018
Line Of Credit Facility [Line Items]
Repayment of predecessor's revolving credit facility		$ 34,000,000
Letters of credit outstanding		2,400,000
Predecessor Two Point Zero Billion Revolving Credit Facility
Line Of Credit Facility [Line Items]
Revolving credit facility, maximum borrowing capacity		2,000,000,000
Repayment of predecessor's revolving credit facility	$ 24,800,000
Credit Facility [Member]
Line Of Credit Facility [Line Items]
Revolving credit facility		1,000,000,000
Successor Credit Facility [Member]
Line Of Credit Facility [Line Items]
Borrowing base		440,000,000
Unamortized deferred financing costs		$ 6,600,000

Long-Term Debt - Summary of Wei

Long-Term Debt - Summary of Weighted-Average Interest Rates Paid Excluding Commitment Fees on Variable-Rate Debt Obligations (Detail)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Successor Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility, weighted-average interest rates	5.48%
Predecessor's Revolving Credit Facility [Member] | Predecessor [Member]
Debt Instrument [Line Items]
Revolving credit facility, weighted-average interest rates		4.13%

Equity (Deficit)- Additional In

Equity (Deficit)- Additional Information (Detail) - $ / shares	May 04, 2017	Mar. 31, 2018	Dec. 31, 2017
Equity [Abstract]
Common stock, shares authorized		300,000,000	300,000,000
Common stock, par value		$ 0.0001	$ 0.0001
Warrants [Member]
Equity And Distributions [Line Items]
Warrant life period	5 years
Percentage of common shares to be issued upon exercise of warrants	8.00%
Warrant issued during period	2,173,913
Warrant exercise price	$ 42.60

Equity (Deficit) - Summary of C

Equity (Deficit) - Summary of Changes in Number of Outstanding Common Units and Shares of Common Stock (Detail)	3 Months Ended
	Mar. 31, 2018shares
Equity [Abstract]
Balance, December 31, 2017	25,000,000
Issuance of common stock	0
Restricted stock units vested	23,200
Repurchase of common shares	(23,200)
Balance, March 31, 2018	25,000,000

Earnings Per Share_Unit - Calcu

Earnings Per Share/Unit - Calculation of Earnings (Loss) Per Share/Unit (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share/Unit [Line Items]
Net income (loss) attributable to Successor/Predecessor		$ 3,239
Net (income) allocated to participating restricted stockholders		(83)
Basic and diluted earnings available to common stockholders/limited partners		$ 3,156
Common shares/units:
Common shares/units outstanding — basic		25,000
Dilutive effect of potential common shares/units		0
Common shares/units outstanding — diluted		25,000
Net earnings per share/unit:
Basic		$ 0.13
Diluted		$ 0.13
Stock Options [Member]
Net earnings per share/unit:
Antidilutive stock options or warrants	[1]	513
Warrants [Member]
Net earnings per share/unit:
Antidilutive stock options or warrants	[2]	2,174
Predecessor [Member]
Earnings Per Share/Unit [Line Items]
Net income (loss) attributable to Successor/Predecessor			$ (16,377)
Net (income) allocated to participating restricted stockholders			0
Basic and diluted earnings available to common stockholders/limited partners			$ (16,377)
Common shares/units:
Common shares/units outstanding — basic			83,810
Dilutive effect of potential common shares/units			0
Common shares/units outstanding — diluted			83,810
Net earnings per share/unit:
Basic			$ (0.20)
Diluted			$ (0.20)
Predecessor [Member] | Stock Options [Member]
Net earnings per share/unit:
Antidilutive stock options or warrants	[1]		0
Predecessor [Member] | Warrants [Member]
Net earnings per share/unit:
Antidilutive stock options or warrants	[2]		0
[1]	Amount represents options to purchase common stock that are excluded from the diluted net earnings per share calculations because of their antidilutive effect.
[2]	Amount represents warrants to purchase common stock that are excluded from the diluted net earnings per share calculations because of their antidilutive effect.

Long-Term Incentive Plans - Add

Long-Term Incentive Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Jun. 30, 2017	May 04, 2017
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost	$ 6.2
Weighted-average period of unrecognized compensation cost	2 years 1 month 6 days
Restricted Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average period of unrecognized compensation cost	2 years 1 month 6 days
Unrecognized compensation cost	$ 1.8
Number of restricted stock options granted	0
Management Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate shares of common stock reserved for issuance			2,322,404
Two Thousand Seventeen Non Employee Directors Compensation Plan | Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate shares of common stock reserved for issuance		200,000
Unrecognized compensation cost	$ 0.2
Weighted-average period of unrecognized compensation cost	2 years 2 months 12 days

Long-Term Incentive Plans - Sum

Long-Term Incentive Plans - Summary of Information Regarding Restricted Stock Unit Awards (Detail)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested, Number of Units	(23,200)
Management Incentive Plan [Member] | Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Number of Units, Beginning Balance	682,792
Granted, Number of Units	0
Forfeited, Number of Units	(14,893)
Vested, Number of Units	(23,200)
Outstanding, Number of Units, Ending Balance	644,699
Outstanding, Weighted-Average Grant Date Fair Value per unit, Beginning balance | $ / shares	$ 13.54	[1]
Granted, Weighted-Average Grant Date Fair Value per Unit | $ / shares	0	[1]
Forfeited, Weighted-Average Grant Date Fair Value per Unit | $ / shares	12.71	[1]
Vested, Weighted-Average Grant Date Fair Value per Unit | $ / shares	13.77	[1]
Outstanding, Weighted-Average Grant Date Fair Value per unit, Ending balance | $ / shares	$ 13.55	[1]
[1]	Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.

Long-Term Incentive Plans - S61

Long-Term Incentive Plans - Summary of Information Regarding Restricted Stock Awards (Detail)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested, Number of Units	(23,200)
Two Thousand Seventeen Non Employee Directors Compensation Plan | Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Number of Units, Beginning Balance	16,341
Granted, Number of Units	0
Forfeited, Number of Units	0
Vested, Number of Units	0
Outstanding, Number of Units, Ending Balance	16,341
Outstanding, Weighted-Average Grant Date Fair Value per unit, Beginning balance | $ / shares	$ 13.77
Granted, Weighted-Average Grant Date Fair Value per Unit | $ / shares	0
Forfeited, Weighted-Average Grant Date Fair Value per Unit | $ / shares	0
Vested, Weighted-Average Grant Date Fair Value per Unit | $ / shares	0
Outstanding, Weighted-Average Grant Date Fair Value per unit, Ending balance | $ / shares	$ 13.77

Long-Term Incentive Plans - S62

Long-Term Incentive Plans - Summary of Restricted Stock Option Awards (Detail) - Restricted Stock Options [Member]	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Number of Options, Beginning Balance | shares	517,398
Granted, Number of Options | shares	0
Forfeited, Number of Options | shares	(4,300)
Vested, Number of Options | shares	0
Outstanding, Number of Options, Ending Balance | shares	513,098
Outstanding, Weighted-Average Grant Date Fair Value per Option, Beginning balance | $ / shares	$ 5.01	[1]
Granted, Weighted-Average Grant Date Fair Value per Option | $ / shares	0	[1]
Forfeited, Weighted-Average Grant Date Fair Value per Option | $ / shares	5.01	[1]
Vested, Weighted-Average Grant Date Fair Value per Option | $ / shares	0	[1]
Outstanding, Weighted-Average Grant Date Fair Value per Option, Ending balance | $ / shares	$ 5.01	[1]
[1]	Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.

Long-Term Incentive Plans - S63

Long-Term Incentive Plans - Summary of Amount of Compensation Expense Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity based compensation expense (benefit)	$ 1,176
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity based compensation expense (benefit)	967
Restricted Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity based compensation expense (benefit)	209
Restricted Common Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity based compensation expense (benefit)	0
Phantom Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity based compensation expense (benefit)	$ 0
Predecessor [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity based compensation expense (benefit)		$ 1,125
Predecessor [Member] | Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity based compensation expense (benefit)		0
Predecessor [Member] | Restricted Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity based compensation expense (benefit)		0
Predecessor [Member] | Restricted Common Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity based compensation expense (benefit)		1,069
Predecessor [Member] | Phantom Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity based compensation expense (benefit)		$ 56

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Maximum [Member]
Related Party Transaction [Line Items]
Amount of related party transaction	$ 120,000	$ 120,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Sep. 12, 2017	Mar. 31, 2018	Dec. 31, 2017
Commitments and Contingencies Additional Textual [Abstract]
Remaining environmental accrued liability recorded		$ 0	$ 0
U S Bank Money Market [Member]
Commitments and Contingencies Additional Textual [Abstract]
Held-to-maturity investment, amortized cost		152,300,000
Minimum [Member]
Commitments and Contingencies Additional Textual [Abstract]
Minimum balance attributable to Beta Operating net working interest		$ 152,000,000	$ 152,000,000
Environmental Protection Agency [Member]
Commitments and Contingencies Additional Textual [Abstract]
Final date to close outstanding environmental related issues	Jun. 30, 2018

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income tax benefit (expense)	$ 0	$ 100,000
Effective tax rate	0.00%	0.60%
Statutory tax rate	21.00%		35.00%
Operating loss carryforwards, limitations on use	limitations on net operating losses (NOLs) generated after December 31, 2017, to 80 percent of taxable income

Subsequent Events - Summary of

Subsequent Events - Summary of Departing Executives Deferred Compensation (Detail) - Subsequent Event [Member] $ in Thousands	Apr. 27, 2018USD ($)shares
William J. Scarff [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Additional Cash Payment | $	$ 296,594
Shares of Common Stock | shares	41,951
Christopher S. Cooper [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Additional Cash Payment | $	$ 207,384
Shares of Common Stock | shares	29,333
Robert L. Stillwell, Jr. [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Additional Cash Payment | $	$ 155,540
Shares of Common Stock | shares	22,000

Subsequent Events - Summary o68

Subsequent Events - Summary of Restricted Stock Units Issuable to the Company's Executive Officers Under Award Agreements (Detail) - Restricted Stock Units [Member] - Subsequent Event [Member]	Apr. 27, 2018shares
Martyn Willsher [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, Number of Units	11,500
Matthew J. Hoss [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, Number of Units	10,000
Richard P. Smiley [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, Number of Units	10,000