SilverBow Resources (SBOW) 10-Q 9 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2016shares
Document and Entity Information [Abstract]
Entity Registrant Name	SWIFT ENERGY CO
Entity Central Index Key	351,817
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	10,000,001

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Stockholders' Equity:
Treasury stock held, at cost	$ 0
Successor [Member]
Current Assets:
Cash and cash equivalents	4,294,000
Accounts receivable	22,049,000
Other current assets	4,078,000
Total Current Assets	30,421,000
Property and Equipment:
Property and Equipment	562,123,000
Less - Accumulated depreciation, depletion, and amortization	(146,830,000)
Net Furniture, Fixtures and other equipment	415,293,000
Other Long-Term Assets	9,841,000
Total Assets	455,555,000
Current Liabilities:
Accounts payable and accrued liabilities	48,696,000
Accrued capital costs	8,262,000
Accrued interest	1,236,000
Undistributed oil and gas revenues	9,580,000
Current portion of long-term debt	0
Total Current Liabilities	67,774,000
Long-Term Debt	254,000,000
Asset Retirement Obligation	51,047,000
Other Long-Term Liabilities	2,745,000
Liabilities subject to compromise of the Predecessor Company (LSTC)	0
Stockholders' Equity:
Preferred Stock, Value, Outstanding	0
Common stock, $0.01 par value	100,000
Additional paid-in capital	229,490,000
Retained earnings (Accumulated deficit)	(149,601,000)
Total Stockholders' Equity (Deficit)	79,989,000
Total Liabilities and Stockholders' Equity	$ 455,555,000
Predecessor [Member]
Current Assets:
Cash and cash equivalents		$ 29,460,000
Accounts receivable		21,704,000
Other current assets		10,683,000
Total Current Assets		61,847,000
Property and Equipment:
Property and Equipment		6,035,757,000
Less - Accumulated depreciation, depletion, and amortization		(5,577,854,000)
Net Furniture, Fixtures and other equipment		457,903,000
Other Long-Term Assets		5,248,000
Total Assets		524,998,000
Current Liabilities:
Accounts payable and accrued liabilities		7,663,000
Accrued capital costs		0
Accrued interest		490,000
Undistributed oil and gas revenues		0
Current portion of long-term debt		324,900,000
Total Current Liabilities		333,053,000
Long-Term Debt		0
Asset Retirement Obligation		56,390,000
Other Long-Term Liabilities		3,891,000
Liabilities subject to compromise of the Predecessor Company (LSTC)		984,388,000
Stockholders' Equity:
Preferred Stock, Value, Outstanding		0
Common stock, $0.01 par value		448,000
Additional paid-in capital		776,358,000
Treasury stock held, at cost		(2,491,000)
Retained earnings (Accumulated deficit)		(1,627,039,000)
Total Stockholders' Equity (Deficit)		(852,724,000)
Total Liabilities and Stockholders' Equity		$ 524,998,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Successor [Member]
Capitalized Costs, unproved property balance	$ 47,603
Preferred stock, par value (in dollars per share)	$ 0.01
Preferred stock, shares authorized	10,000,000
Preferred stock, shares outstanding	0
Common stock, par value per share (in dollars per share)	$ 0.01
Common stock, shares authorized	40,000,000
Common stock, shares issued	10,000,001
Common stock, shares outstanding	10,000,001
Treasury stock shares held, at cost	0
Predecessor [Member]
Capitalized Costs, unproved property balance		$ 18,839
Preferred stock, par value (in dollars per share)		$ 0.01
Preferred stock, shares authorized		5,000,000
Preferred stock, shares outstanding		0
Common stock, par value per share (in dollars per share)		$ 0.01
Common stock, shares authorized		150,000,000
Common stock, shares issued		44,771,258
Common stock, shares outstanding		44,591,863
Treasury stock shares held, at cost		179,395

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
	Apr. 22, 2016	Jun. 30, 2016	Jun. 30, 2015	Apr. 22, 2016	Jun. 30, 2015
Successor [Member]
Revenues:
Oil and gas sales		$ 30,581
Price-risk management and other, net		(9,928)
Total Revenues		20,653
Costs and Expenses:
General and administrative, net		4,228
Depreciation, depletion, and amortization		13,334
Accretion of asset retirement obligation		832
Lease operating cost		7,781
Transportation and gas processing		4,186
Severance and other taxes		1,864
Interest expense, net		4,257
Write-down of oil and gas properties		133,496
(Gain) Loss on Reorganization items, net		276
Total Costs and Expenses, Net of Gains		170,254
Income (Loss) Before Income Taxes		(149,601)
Provision (Benefit) for Income Taxes		0
Net Income (Loss)		$ (149,601)
Per Share Amounts-
Earnings Per Share (Basic)		$ (14.96)
Earnings Per Share (Diluted)		$ (14.96)
Weighted Average Shares Outstanding - Basic		10,000
Weighted Average Shares Outstanding - Diluted		10,000
Predecessor [Member]
Revenues:
Oil and gas sales	$ 8,660		$ 68,281	$ 43,027	$ 135,639
Price-risk management and other, net	(150)		(2,112)	(245)	(1,133)
Total Revenues	8,510		66,169	42,782	134,506
Costs and Expenses:
General and administrative, net	1,127		10,290	9,245	22,846
Depreciation, depletion, and amortization	3,194		42,088	20,439	102,786
Accretion of asset retirement obligation	319		1,381	1,610	2,746
Lease operating cost	2,627		17,164	14,933	36,198
Transportation and gas processing	1,035		5,086	6,090	10,409
Severance and other taxes	1,585		4,424	3,917	9,556
Interest expense, net	5,281		18,741	13,347	36,969
Write-down of oil and gas properties	0		260,504	77,732	763,073
(Gain) Loss on Reorganization items, net	(966,571)		0	(956,142)	0
Total Costs and Expenses, Net of Gains	(951,403)		359,678	(808,829)	984,583
Income (Loss) Before Income Taxes	959,913		(293,509)	851,611	(850,077)
Provision (Benefit) for Income Taxes	0		(642)	0	(80,133)
Net Income (Loss)	$ 959,913		$ (292,867)	$ 851,611	$ (769,944)
Per Share Amounts-
Earnings Per Share (Basic)	$ 21.45		$ (6.58)	$ 19.06	$ (17.35)
Earnings Per Share (Diluted)	$ 21.03		$ (6.58)	$ 18.64	$ (17.35)
Weighted Average Shares Outstanding - Basic	44,754		44,516	44,692	44,374
Weighted Average Shares Outstanding - Diluted	45,648		44,516	45,697	44,374

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings (Accumulated Deficit)
Beginning Balance (Predecessor [Member]) at Dec. 31, 2015	$ (852,724)	$ 448	$ 776,358	$ (2,491)	$ (1,627,039)
Purchase of treasury shares | Predecessor [Member]	(5)	0	0	(5)	0
Issuance of restricted stock | Predecessor [Member]	0	2	(2)	0	0
Amortization of share-based compensation | Predecessor [Member]	1,118	0	1,118	0	0
Net Loss | Predecessor [Member]	851,611	0	0	0	851,611
Ending Balance (Predecessor [Member]) at Apr. 22, 2016	0	0	0	0	0
Ending Balance (Successor [Member]) at Apr. 22, 2016	229,399	100	229,299	0	0
Stockholders' Equity Attributable to Parent before Cancellation | Predecessor [Member]	0	450	777,474	(2,496)	(775,428)
Cancellation of Common Stock | Predecessor [Member]	0	(450)	(777,474)	2,496	775,428
Proceeds from Issuance of Common Stock | Successor [Member]	229,399	100	229,299	0	0
Amortization of share-based compensation | Successor [Member]	191	0	191	0	0
Net Loss | Successor [Member]	(149,601)	0	0	0	(149,601)
Ending Balance (Successor [Member]) at Jun. 30, 2016	$ 79,989	$ 100	$ 229,490	$ 0	$ (149,601)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - Successor [Member]	4 Months Ended
	Apr. 22, 2016shares
Stock issued for benefit plans (shares)	0
Purchase of treasury stock (shares)	65,170
Employee stock purchase plan (shares)	0
Issuance of restricted stock (shares)	229,690

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	2 Months Ended	4 Months Ended	6 Months Ended
	Jun. 30, 2016	Apr. 22, 2016	Jun. 30, 2015
Predecessor [Member]
Cash Flows from Operating Activities:
Net Income (Loss)		$ 851,611	$ (769,944)
Adjustments to reconcile net income to net cash provided by operating activities -
Depreciation, depletion, and amortization		20,439	102,786
Write-down of oil and gas properties		77,732	763,073
Accretion of asset retirement obligation		1,610	2,746
Deferred income taxes		0	(80,133)
Stock-based compensation expenses		886	2,153
Loss on derivatives		0	(251)
Reorganization items (non-cash)		(977,696)	0
Other Noncash Income (Expense)		229	3,857
(Increase) Decrease in accounts receivable and other current assets		(5,474)	9,041
Increase (decrease) in accounts payable and accrued liabilities		(10,495)	(3,997)
Increase (decrease) in accrued interest		(308)	108
Net Cash Provided by Operating Activities		(41,466)	29,439
Cash Flows from Investing Activities:
Additions to property and equipment		(24,530)	(104,997)
Proceeds from the sale of property and equipment		(48,661)	(946)
Net Cash Used in Investing Activities		24,131	(104,051)
Cash Flows from Financing Activities:
Net proceeds from New Credit Facility		328,000	180,500
Payments of bank borrowings		(324,900)	(105,800)
Net proceeds from issuances of common stock		0	302
Purchase of treasury shares		(4)	(150)
Payments of debt issuance costs		(6,482)	(571)
Net Cash Used in Financing Activities		(3,386)	74,281
Net Increase (Decrease) in Cash and Cash Equivalents		(20,721)	(331)
Cash and Cash Equivalents at Beginning of Period	$ 8,739	29,460	406
Cash and Cash Equivalents at End of Period		8,739	75
Supplemental Disclosures of Cash Flows Information:
Cash paid during period for interest, net of amounts capitalized		10,367	35,488
Cash paid for reorganization items		15,643	0
Increase (decrease) in accrued payables for capital expenditures		$ 1,843	$ (46,843)
Successor [Member]
Cash Flows from Operating Activities:
Net Income (Loss)	(149,601)
Adjustments to reconcile net income to net cash provided by operating activities -
Depreciation, depletion, and amortization	13,334
Write-down of oil and gas properties	133,496
Accretion of asset retirement obligation	832
Deferred income taxes	0
Stock-based compensation expenses	191
Loss on derivatives	9,912
Reorganization items (non-cash)	0
Other Noncash Income (Expense)	438
(Increase) Decrease in accounts receivable and other current assets	13,379
Increase (decrease) in accounts payable and accrued liabilities	(6,621)
Increase (decrease) in accrued interest	573
Net Cash Provided by Operating Activities	15,933
Cash Flows from Investing Activities:
Additions to property and equipment	(20,876)
Proceeds from the sale of property and equipment	0
Net Cash Used in Investing Activities	(20,876)
Cash Flows from Financing Activities:
Net proceeds from New Credit Facility	21,000
Payments of bank borrowings	(20,000)
Net proceeds from issuances of common stock	0
Purchase of treasury shares	0
Payments of debt issuance costs	(502)
Net Cash Used in Financing Activities	498
Net Increase (Decrease) in Cash and Cash Equivalents	(4,445)
Cash and Cash Equivalents at End of Period	4,294
Supplemental Disclosures of Cash Flows Information:
Cash paid during period for interest, net of amounts capitalized	3,246
Cash paid for reorganization items	4,080
Increase (decrease) in accrued payables for capital expenditures	$ (8,353)

General Information

General Information	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General Information	(1) General Information The condensed consolidated financial statements included herein have been prepared by the Company and reflect necessary adjustments, all of which were of a recurring nature unless otherwise disclosed herein, and are in the opinion of our management necessary for a fair presentation. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission. We believe that the disclosures presented are adequate to allow the information presented not to be misleading. The condensed consolidated financial statements should be read in conjunction with the audited financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 as filed with the Securities and Exchange Commission on March 4, 2016 though, as described below, such prior financial statements may not be comparable to our interim financial statements due to the adoption of fresh start accounting. Our independent registered public accounting firm for the year ended December 31, 2015 expressed their audit opinion dated March 4, 2016 on such financial statements with a going concern uncertainty explanatory paragraph.

Emergence from Voluntary Reorga

Emergence from Voluntary Reorganization under Chapter 11 Proceedings Emergence from Voluntary Reorganization under Chapter 11 Proceedings (Notes)	6 Months Ended
	Jun. 30, 2016
Reorganizations [Abstract]
Chapter 11 Proceedings	(1A) Emergence from Voluntary Reorganization under Chapter 11 Proceedings On December 31, 2015 , Swift Energy Company ("Swift Energy," the "Company" or "we") and eight of its U.S. subsidiaries (the “Chapter 11 Subsidiaries”) filed voluntary petitions seeking relief under Chapter 11 of Title 11 of the U.S. Bankruptcy Code (the "Bankruptcy Code") in the U.S. Bankruptcy Court for the District of Delaware under the caption In re Swift Energy Company, et al (Case No. 15-12670). The Company and the Chapter 11 Subsidiaries received bankruptcy court confirmation of their joint plan of reorganization (the "Plan") on March 31, 2016, and subsequently emerged from bankruptcy on April 22, 2016 (the "Effective Date"). Effect of the Bankruptcy Proceedings. During the bankruptcy proceedings, the Company conducted normal business activities and was authorized to pay and has paid (subject to caps applicable to payments of certain pre-petition obligations) pre-petition employee wages and benefits, pre-petition amounts owed to certain lienholders and critical vendors, pre-petition amounts owed to pipeline owners that transport the Company's production, and funds belonging to third parties, including royalty holders and partners. In addition, subject to certain specific exceptions under the Bankruptcy Code, the Chapter 11 filings automatically stayed most judicial or administrative actions against the Company and efforts by creditors to collect on or otherwise exercise rights or remedies with respect to pre-petition claims. As a result, we did not record interest expense on the Company’s senior notes for the period of January 1, 2016 through April 22, 2016 (as the predecessor). For that period, contractual interest on the senior notes totaled $21.6 million . Plan of Reorganization . Pursuant to the Plan, the significant transactions that occurred upon emergence from bankruptcy were as follows: • the approximately $906 million of indebtedness outstanding on account of the Company’s senior notes, $75.0 million in borrowings under the Company's DIP Credit Agreement (described below) and certain other unsecured claims were exchanged for 88.5% of the post-emergence Company’s common stock; • the lenders under the DIP Credit Agreement (as defined and more fully described below) received an additional backstop fee consisting of 7.5% of the post-emergence Company’s common stock; • the Company’s pre-petition common stock was canceled and the current shareholders received 4% of the post-emergence Company’s common stock and warrants to purchase up to 30% of the reorganized Company's equity. See Note 1B of these condensed consolidated financial statements for more information; • claims of other creditors were paid in full in cash, reinstated or otherwise treated in a manner acceptable to the creditors; • the Company entered into a registration rights agreement to provide customary registration rights to certain holders of the Company’s post-emergence common stock who, together with their affiliates received upon emergence 5% or more of the outstanding common stock of the Company; • the Company sold (effective April 15, 2016) a portion of its interest in its Central Louisiana fields known as Burr Ferry and South Bearhead Creek to Texegy LLC, for net proceeds of approximately $46.9 million including deposits received prior to the closing date; and • the Company's previous credit facility (the "Prior First Lien Credit Facility") was terminated and a new senior secured credit facility (the "New Credit Facility") with an initial $320 million borrowing base was established. For more information refer to Note 5 of these condensed consolidated financial statements. In accordance with the Plan, the post-emergence Company’s new board of directors is made up of seven directors consisting of the Chief Executive Officer of the post-emergence Company (Terry E. Swift), two directors appointed by Strategic Value Partners LLC ("SVP") (Peter Kirchof and David Geenberg), a former holder of the Company’s senior notes, two directors appointed by other former holders of the Company’s senior notes (Gabriel Ellisor and Charles Wampler), one independent director (Michael Duginski) and one vacancy (who will be designated the new non-executive chairman of the Board). In addition, pursuant to the Plan, SVP and the other former holders of the Company’s senior notes were given certain continuing director nomination rights subject to minimum share ownership conditions. DIP Credit Agreement. In connection with the pre-petition negotiations of the restructuring support agreement, certain holders of the Company’s senior notes agreed to provide the Company and the Chapter 11 Subsidiaries a debtor-in-possession credit facility (the “DIP Credit Agreement"). The DIP Credit Agreement provided for a multi-draw term loan of up to $75.0 million , which became available to the Company upon the satisfaction of certain milestones and contingencies. Upon emergence from bankruptcy, the Company had drawn down the entire $75.0 million available. Pursuant to the Plan, the borrowings under the DIP Credit Agreement, at the option of the lenders to the DIP Credit Agreement, converted into the post-emergence Company’s common stock, which was part of the 88.5% of the common stock distributed to the holders of the Company's senior notes and certain unsecured creditors. As such, the $75.0 million borrowed under the DIP Credit Agreement was not required to be repaid in cash and terminated upon the Company’s exit from bankruptcy. For more information refer to Note 5 of the condensed consolidated financial statements. Fresh Start Accounting . Upon the Company’s emergence from Chapter 11 bankruptcy, the Company adopted fresh-start accounting in accordance with the provisions of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 852, "Reorganizations" which resulted in the Company becoming a new entity for financial reporting purposes. See Note 1B of these condensed consolidated financial statements for more information. Financial Statement Classification of Liabilities Subject to Compromise . Our financial statements included amounts classified as liabilities subject to compromise, a majority of which were equitized upon emergence from bankruptcy on April 22, 2016 . See Note 1B of these condensed consolidated financial statements for more information.

Fresh Start Accounting

Fresh Start Accounting	6 Months Ended
	Jun. 30, 2016
Reorganizations [Abstract]
Fresh Start Accounting	Fresh Start Accounting Upon the Company's emergence from Chapter 11 bankruptcy, the Company adopted fresh start accounting, pursuant to FASB ASC 852, “ Reorganizations” , and applied the provisions thereof to its financial statements. The Company qualified for fresh start accounting because (i) the holders of existing voting shares of the pre-emergence debtor-in-possession, referred to herein to as the "Predecessor" or "Predecessor Company," received less than 50% of the voting shares of the post-emergence successor entity, which we refer to herein as the "Successor" or "Successor Company" and (ii) the reorganization value of the Company's assets immediately prior to confirmation was less than the post-petition liabilities and allowed claims. The Company applied fresh start accounting as of April 22, 2016 when it emerged from bankruptcy protection. Adopting fresh start accounting results in a new reporting entity for financial reporting purposes with no beginning retained earnings or deficit. The cancellation of all existing shares outstanding on the Effective Date and issuance of new shares of the Successor Company caused a related change of control of the Company under ASC 852. Upon the application of fresh start accounting, Swift allocated the reorganization value to its individual assets based on their estimated fair values. Reorganization value represents the fair value of the Successor Company's assets before considering liabilities. As a result of the application of fresh start accounting, as well as the effects of the implementation of the Plan, the Consolidated Financial Statements on or after April 22, 2016 are not comparable with the Consolidated Financial Statements prior to that date. References to “Successor” or “Successor Company” relate to the financial position and results of operations of the reorganized Company subsequent to April 22, 2016. References to “Predecessor” or “Predecessor Company” refer to the financial position and results of operations of the Company prior to April 22, 2016. Reorganization Value . Reorganization value represents the fair value of the Successor Company’s total assets and is intended to approximate the amount a willing buyer would pay for the assets immediately after restructuring. Under fresh start accounting, we allocated the reorganization value to our individual assets based on their estimated fair values. Our reorganization value is derived from an estimate of enterprise value. Enterprise value represents the estimated fair value of an entity’s long term debt and shareholders’ equity. In support of the Plan, the enterprise value of the Successor Company was estimated and approved by the bankruptcy court to be in the range of $460 million to $800 million . Based on the estimates and assumptions used in determining the enterprise value, as further discussed below, the Company estimated the enterprise value to be approximately $474 million . This valuation analysis was prepared using reserve information, development schedules, other financial information and financial projections and applying standard valuation techniques, including risked net asset value analysis and public comparable company analyses. Valuation of Oil and Gas Properties. The Company’s principal assets are its oil and gas properties, which the Company accounts for under the Full Cost Accounting method as described in Note 2. With the assistance of valuation experts, the Company determined the fair value of its oil and gas properties based on the discounted cash flows expected to be generated from these assets. The computations were based on market conditions and reserves in place as of the bankruptcy emergence date. The Company’s Reserves Engineers developed full cycle production models for all of the Company’s developed wells and identified undeveloped drilling locations within the Company’s leased acreage. The undeveloped locations were categorized based on varying levels of risk using industry standards. The proved locations were limited to wells expected to be drilled in the Company’s five year plan. The locations were then segregated into geographic areas. Future cash flows before application of risk factors were estimated by using the New York Mercantile Exchange five year forward prices for West Texas Intermediate oil and Henry Hub natural gas with inflation adjustments applied to periods beyond five years. These prices were adjusted for typical differentials realized by the Company for location and product quality adjustments. Transportation cost estimates were based on agreements in place at the emergence date. Development and operating costs were based the Company’s recent cost trends adjusted for inflation. Risk factors were determined separately for each geographic area. Based on the geological characteristics of each area appropriate risk factors for each of the reserve categories were applied. The Company and its valuation experts considered production, geological and mechanical risk to determine the probability factor for each reserve category in each area. The risk adjusted after tax cash flows were discounted at 12% . This discount factor was derived from a weighted average cost of capital computation which utilized a blended expected cost of debt and expected returns on equity for similar industry participants. The after tax cash flow computations included utilization of the Company’s unamortized tax basis in the properties as of the emergence date. Plugging and abandonment costs were included in the cash flow projections for undeveloped reserves but were excluded for developed reserves since the fair value of this liability was determined separately and included in the emergence date liabilities reported on the balance sheet. From this analysis the Company concluded the fair value of its proved reserves was $509.4 million , and the value of its probable reserves was $45.5 million as of the effective date. The fair value of the possible reserves was determined to be de minimus and no value therefore recognized. The value of probable reserves was classified as unevaluated costs. The Company also reviewed its undeveloped leasehold acreage and concluded that the fair value of its probable reserves appropriately captured the fair value of its undeveloped leasehold acreage. These amounts are reflected in the Fresh Start Adjustments item number 12 below. The following table reconciles the enterprise value to the estimated fair value of the Successor Company's common stock as of the Effective Date (in thousands): April 22, 2016 Enterprise Value $ 473,660 Plus: Cash and cash equivalents 8,739 Less: Fair value of debt (253,000 ) Less: Fair value of warrants (14,967 ) Fair value of Successor common stock $ 214,432 Shares outstanding at April 22, 2016 10,000 Per share value $ 21.44 Upon issuance of the New Credit Facility on April 22, 2016, the Company received net proceeds of approximately $253 million and incurred debt issuance costs of approximately $7.0 million . In accordance with the Plan, the Company issued two series of warrants (each for up to 15% of the reorganized Company's equity) to the former holders of the Company’s common stock, one to expire on the close of business on April 22, 2019 (the “2019 Warrants”) and the other to expire on the close of business on April 22, 2020 (the “2020 Warrants” and, together with the 2019 Warrants, the “Warrants”). Following the Effective Date, there were 2019 Warrants outstanding to purchase up to an aggregate of 2,142,857 shares of Common Stock at an initial exercise price of $80.00 per share. Following the Effective Date, there were 2020 Warrants outstanding to purchase up to an aggregate of 2,142,857 shares of Common Stock at an initial exercise price of $86.18 per share. All unexercised Warrants shall expire, and the rights of the holders of such Warrants (the “Warrant Holders”) to purchase Common Stock shall terminate at the close of business on the first to occur of (i) their respective expiration dates or (ii) the date of completion of (A) any Fundamental Equity Change (as defined in the Warrant Agreement) or (B) an Asset Sale (as defined in the Warrant Agreement). The fair value of the 2019 and 2020 Warrants was $3.26 and $3.73 per warrant, respectively. A Black- Scholes pricing model with the following assumptions was used in determining the fair value: strike price of $80 and $86.18 ; expected volatility of 70% and 65% ; expected dividend rate of 0.0% ; risk free interest rate of 1.01% and 1.19% ; and expiration date of 3 and 4 years, respectively. The fair value of these warrants was estimated using Level 2 inputs (for additional discussion of the Level 2 inputs, refer to Note 7 of these condensed consolidated financial statements). The following table reconciles the enterprise value to the estimated reorganization value as of the Effective Date (in thousands): April 22, 2016 Enterprise Value $ 473,660 Plus: Cash and cash equivalents 8,739 Plus: Other working capital liabilities 73,318 Plus: Other long-term liabilities 58,992 Reorganization value of Successor assets $ 614,709 Reorganization value and enterprise value were estimated using numerous projections and assumptions that are inherently subject to significant uncertainties and resolution of contingencies that are beyond our control. Accordingly, the estimates set forth herein are not necessarily indicative of actual outcomes, and there can be no assurance that the estimates, projections or assumptions will be realized. Condensed Consolidated Balance Sheet. The adjustments set forth in the following condensed consolidated balance sheet reflect the effect of the consummation of the transactions contemplated by the Plan (reflected in the column “Reorganization Adjustments”) as well as fair value adjustments as a result of the adoption of fresh start accounting (reflected in the column “Fresh Start Adjustments”). The explanatory notes highlight methods used to determine fair values or other amounts of the assets and liabilities as well as significant assumptions. The following table reflects the reorganization and application of ASC 852 on our condensed consolidated balance sheet as of April 22, 2016 (in thousands): Predecessor Company Reorganization Adjustments Fresh Start Adjustments Successor Company ASSETS Current Assets: Cash and cash equivalents $ 57,599 $ (48,860 ) (1) $ — $ 8,739 Accounts receivable 34,278 (597 ) (2) — 33,681 Other current assets 3,503 — — 3,503 Total current assets 95,380 (49,457 ) — 45,923 Property and equipment 6,007,326 — (5,448,759 ) (12) 558,567 Less - accumulated depreciation, depletion and amortization (5,676,252 ) — 5,676,252 (12) — Property and equipment, net 331,074 — 227,493 558,567 Other Long-Term Assets 4,629 6,388 (3) (798 ) (13) 10,219 Total Assets $ 431,083 $ (43,069 ) $ 226,695 $ 614,709 Predecessor Company Reorganization Adjustments Fresh Start Adjustments Successor Company LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable and accrued liabilities $ 64,324 $ (4,666 ) (4) $ (885 ) (14 ) $ 58,773 Accrued capital costs 5,410 — — 5,410 Accrued interest 768 (104 ) (5) — 664 Undistributed oil and gas revenues 8,471 — — 8,471 Current portion of debt 364,500 (364,500 ) (6) — — Total current liabilities 443,473 (369,270 ) (885 ) 73,318 Long-Term Debt — 253,000 (7) — 253,000 Asset retirement obligation 51,800 — 6,101 (14 ) 57,901 Other long-term liabilities 2,124 — (1,033 ) (15 ) 1,091 Liabilities subject to compromise 911,381 (911,381 ) (8) — — Total Liabilities 1,408,778 (1,027,651 ) 4,183 385,310 Stockholders' Equity: Preferred stock — — — Common stock (Predecessor) 450 (450 ) (9) — — Common stock (Successor) — 100 (10) — 100 Additional paid-in capital (Predecessor) 777,475 (777,475 ) (9) — — Additional paid-in capital (Successor) — 229,299 (10) — 229,299 Treasury stock held at cost (2,496 ) 2,496 (9) — — Retained earnings (accumulated deficit) (1,753,124 ) 1,530,612 (11) 222,512 (16 ) — Total Stockholders' Equity (Deficit) (977,695 ) 984,582 222,512 229,399 Total Liabilities and Stockholders' Equity $ 431,083 $ (43,069 ) $ 226,695 $ 614,709 Reorganization Adjustments 1. Reflects the net cash payments recorded as of the Effective Date from implementation of the Plan (in thousands): Sources: Net proceeds from New Credit Facility 253,000 Total Sources $ 253,000 Uses: Repayment of Prior First Lien Credit Facility 289,500 Debt issuance costs 6,482 Predecessor accounts payable paid upon emergence 5,878 Total Uses $ 301,860 Net Uses $ (48,860 ) 2. Reflects the impairment of a short-term leasehold improvement build-out receivable for $0.6 million that will no longer be reimbursed by the building lessor as the Company's office lease contract was rejected as part of the bankruptcy. 3. Reflects the capitalization of debt issuance costs on the New Credit Facility for $7.0 million , of which $6.5 million was paid on emergence and $0.5 million included in accounts payable and accrued liabilities and paid in the subsequent month, as well as the impairment of a long-term leasehold improvement build-out receivable for $0.6 million relating to an office lease contract that was rejected in connection with the bankruptcy. 4. Reflects the settlement of predecessor accounts payable of $5.2 million partially offset by capitalized debt issuance costs of $0.5 million . 5. Reflects the settlement of accrued interest on the Company's DIP Credit Agreement which was equitized upon emergence. 6. On the Effective Date, the Company repaid in full all borrowings outstanding of $289.5 million under the Prior First Lien Credit Facility. In addition the Company equitized the outstanding DIP Credit Agreement borrowings of $75 million via the issuance of equity valued at $142.3 million . 7. Reflects the $253 million in new borrowings under the New Credit Facility. 8. Liabilities subject to compromise were settled as follows in accordance with the Plan (in thousands): 7.125% senior notes due 2017 $ 250,000 8.875% senior notes due 2020 225,000 7.875% senior notes due 2022 400,000 Accrued interest 30,043 Accounts payable and accrued liabilities 1,713 Other long-term liabilities 4,625 Liabilities subject to compromise of the Predecessor Company (LSTC) 911,381 Fair value of equity issued to former holders of the senior notes of the Predecessor (47,443 ) Gain on settlement of Liabilities subject to compromise $ 863,938 9. Reflects the cancellation of the Predecessor Company equity to retained earnings. 10. Reflects the issuance of 10.0 million shares of common stock at a per share price of $21.44 and 4.3 million warrants to purchase up to 30% of the reorganized Company's equity valued at $15.0 million with an average per unit value of $3.49 . Former holders of the senior notes and certain unsecured creditors were issued 8.85 million shares of common stock while the Backstop Lenders (as defined in the DIP Credit Agreement) were issued 0.75 million shares of common stock. Former shareholders received the warrants and 0.4 million shares of common stock. 11. Reflects the cumulative impact of the reorganization adjustments discussed above (in thousands): Gain on settlement of Liabilities subject to compromise $ 863,938 Fair value of equity issued in excess of DIP principal (67,329 ) Fair value of equity and warrants issued to Predecessor stockholders (23,544 ) Fair value of equity issued to DIP lenders for backstop fee (16,082 ) Other reorganization adjustments (1,800 ) Cancellation of Predecessor Company equity 775,429 Net impact to accumulated deficit $ 1,530,612 Fresh Start Adjustments 12. The following table summarizes the fair value adjustment on our oil and gas properties and accumulated depletion, depreciation and amortization (in thousands): Predecessor Company Fresh Start Adjustments Successor Company Oil and Gas Properties Proved properties $ 5,951,016 $ (5,441,655 ) $ 509,361 Unproved properties 12,057 33,448 45,505 Total Oil and Gas Properties 5,963,073 (5,408,207 ) 554,866 Less - Accumulated depletion and impairments (5,638,741 ) 5,638,741 — Net Oil and Gas Properties 324,332 230,534 554,866 Furniture, Fixtures, and other equipment 44,252 (40,551 ) 3,701 Less - Accumulated depreciation (37,510 ) 37,510 — Net Furniture, Fixtures and other equipment $ 6,742 $ (3,041 ) $ 3,701 Net Oil and Gas Properties, Furniture and fixtures and accumulated depreciation $ 331,074 $ 227,493 $ 558,567 13. Reflects the adjustment of other non-current assets to fair value. 14. Reflects the current and long-term portion of the Company’s asset retirement obligation computed in accordance with ASC 410-20, applying the appropriate discount rate to future costs as of the emergence date, which the Company has determined to be a reasonable fair value estimate. 15. Reflects the adjustment of other non-current liabilities to fair value. 16. Reflects the cumulative impact of fresh start adjustments as discussed above. Reorganization Items Reorganization items represent liabilities settled, net of amounts incurred subsequent to the Chapter 11 filing as a direct result of the Plan and are classified as “(Gain) Loss on Reorganization items, net” in the Condensed Consolidated Statements of Operations. The following table summarizes reorganization items (in thousands): Successor Predecessor Period from April 23, 2016 through June 30, 2016 Period from January 1, 2016 through April 22, 2016 Gain on settlement of liabilities subject to compromise $ — $ (863,938 ) Fair value of equity issued in excess of DIP principal — 67,329 Fresh start adjustments — (222,512 ) Reorganization legal and professional fees and expenses 342 25,573 Fair value of equity issued to DIP lenders for backstop fee — 16,082 Other reorganization items (66 ) 21,324 (Gain) Loss on Reorganization items, net $ 276 $ (956,142 )

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies Fresh Start Accounting. As discussed in Notes 1A and 1B, the Company applied fresh start accounting upon emergence from bankruptcy on the Effective Date which resulted in the Company becoming a new entity for financial reporting purposes. Upon adoption of fresh start accounting, our assets and liabilities were recorded at their fair values as of the Effective Date. The Effective Date fair values of our assets and liabilities differed materially from the recorded values of our assets and liabilities as reflected in our historical condensed consolidated balance sheet. The effects of the Plan and the application of fresh-start accounting were reflected in our condensed consolidated financial statements as of April 22, 2016 and the related adjustments thereto were recorded in our condensed consolidated statements of operations as reorganization items for the period April 1, 2016 to April 22, 2016 (predecessor Company). As a result, our condensed consolidated balance sheets and condensed consolidated statement of operations subsequent to the Effective Date will not be comparable to our condensed consolidated balance sheets and statements of operations prior to the Effective Date. Our condensed consolidated financial statements and related footnotes are presented with a black line division which delineates the lack of comparability between amounts presented on or after April 22, 2016 and dates prior. Our financial results for future periods following the application of fresh-start accounting will be different from historical trends and the differences may be material. References to the Successor relate to the Company on and subsequent to the Effective Date. References to Predecessor refer to the Company prior to the Effective Date. The condensed consolidated financial statements of the Successor have been prepared assuming that the Company will continue as a going concern and contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. Principles of Consolidation . The accompanying condensed consolidated financial statements include the accounts of Swift Energy and its wholly owned subsidiaries, which are engaged in the exploration, development, acquisition, and operation of oil and gas properties, with a focus on inland waters and onshore oil and natural gas reserves in Louisiana and Texas. Our undivided interests in oil and gas properties are accounted for using the proportionate consolidation method, whereby our proportionate share of each entity’s assets, liabilities, revenues, and expenses are included in the appropriate classifications in the accompanying condensed consolidated financial statements. Intercompany balances and transactions have been eliminated in preparing the accompanying condensed consolidated financial statements. Subsequent Events . We have evaluated subsequent events of our condensed consolidated financial statements. On August 8, 2016, the Board of Directors delivered notices to the Company’s Chief Executive Officer and Chief Financial Officer concerning their retirement and termination from employment and all officer positions with the Company following a transition period, which is expected to be over the next several months. The Chief Executive Officer and Chief Financial Officer shall receive severance benefits, which include cash payments, accelerated vesting of their share-based compensation, and other benefits in accordance with their Third Amended and Restated Employment Agreements. The Board also approved that Mr. Swift shall remain on the Board until his departure as Chief Executive Officer. There were no material subsequent events requiring additional disclosure in these financial statements. Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires us to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and the reported amounts of certain revenues and expenses during each reporting period. We believe our estimates and assumptions are reasonable; however, such estimates and assumptions are subject to a number of risks and uncertainties that may cause actual results to differ materially from such estimates. Significant estimates and assumptions underlying these financial statements include: • the estimates of reorganization value, enterprise value and fair value of assets and liabilities upon emergence from bankruptcy and application of fresh start accounting, • the estimated quantities of proved oil and natural gas reserves used to compute depletion of oil and natural gas properties, the related present value of estimated future net cash flows there-from, and the ceiling test impairment calculation, • estimates related to the collectability of accounts receivable and the credit worthiness of our customers, • estimates of the counterparty bank risk related to letters of credit that our customers may have issued on our behalf, • estimates of future costs to develop and produce reserves, • accruals related to oil and gas sales, capital expenditures and lease operating expenses, • estimates of insurance recoveries related to property damage, and the solvency of insurance providers, • estimates in the calculation of share-based compensation expense, • estimates of our ownership in properties prior to final division of interest determination, • the estimated future cost and timing of asset retirement obligations, • estimates made in our income tax calculations, • estimates of the Liabilities subject to compromise versus not subject to compromise, • estimates in the calculation of the fair value of hedging assets and liabilities, and • estimates in the assessment of current litigation claims against the Company. While we are not aware of any material revisions to any of our estimates, there will likely be future revisions to our estimates resulting from matters such as new accounting pronouncements, changes in ownership interests, payouts, joint venture audits, re-allocations by purchasers or pipelines, or other corrections and adjustments common in the oil and gas industry, many of which require retroactive application. These types of adjustments cannot be currently estimated and are expected to be recorded in the period during which the adjustments occur. We are subject to legal proceedings, claims, liabilities and environmental matters that arise in the ordinary course of business. We accrue for losses when such losses are considered probable and the amounts can be reasonably estimated. Property and Equipment. We follow the “full-cost” method of accounting for oil and natural gas property and equipment costs. Under this method of accounting, all productive and nonproductive costs incurred in the exploration, development, and acquisition of oil and natural gas reserves are capitalized. Such costs may be incurred both prior to and after the acquisition of a property and include lease acquisitions, geological and geophysical services, drilling, completion, and equipment. Internal costs incurred that are directly identified with exploration, development, and acquisition activities undertaken by us for our own account, and which are not related to production, general corporate overhead, or similar activities, are also capitalized. For the period of April 1, 2016 through April 22, 2016 (predecessor), the period of April 23, 2016 through June 30, 2016 (successor) and the three months ended June 30, 2015 (predecessor) , such internal costs capitalized totaled $0.5 million , $1.5 million , and $3.3 million , respectively. For the period of January 1, 2016 through April 22, 2016 (predecessor) and the six months ended June 30, 2015 (predecessor) , such internal capitalized costs totaled $2.9 million and $7.0 million , respectively. Interest costs are also capitalized to unproved oil and natural gas properties (refer to Note 5 of these condensed consolidated financial statements for further discussion on capitalized interest costs). The “Property and Equipment” balances on the accompanying condensed consolidated balance sheets are summarized for presentation purposes. The following is a detailed breakout of our “Property and Equipment” balances (in thousands): Successor Predecessor Property and Equipment Proved oil and gas properties $ 510,819 $ 5,972,666 Unproved oil and gas properties 47,603 18,839 Furniture, fixtures, and other equipment 3,701 44,252 Less – Accumulated depreciation, depletion, amortization & impairment (146,830 ) (5,577,854 ) Property and Equipment, Net $ 415,293 $ 457,903 No gains or losses are recognized upon the sale or disposition of oil and natural gas properties, except in transactions involving a significant amount of reserves or where the proceeds from the sale of oil and natural gas properties would significantly alter the relationship between capitalized costs and proved reserves of oil and natural gas attributable to a cost center. Internal costs associated with selling properties are expensed as incurred. We compute the provision for depreciation, depletion, and amortization (“DD&A”) of oil and natural gas properties using the unit-of-production method. Under this method, we compute the provision by multiplying the total unamortized costs of oil and gas properties-including future development costs, gas processing facilities, and both capitalized asset retirement obligations and undiscounted abandonment costs of wells to be drilled, net of salvage values, but excluding costs of unproved properties-by an overall rate determined by dividing the physical units of oil and natural gas produced (which excludes natural gas consumed in operations) during the period by the total estimated units of proved oil and natural gas reserves (which excludes natural gas consumed in operations) at the beginning of the period. Future development costs are estimated on a property-by-property basis based on current economic conditions and are amortized to expense as our capitalized oil and gas property costs are amortized. This calculation is done on a country-by-country basis and the period over which we will amortize these properties is dependent on our production from these properties in future years. Furniture, fixtures, and other equipment are recorded at cost and are depreciated by the straight-line method at rates based on the estimated useful lives of the property, which range between two and 20 years. Repairs and maintenance are charged to expense as incurred. Geological and geophysical (“G&G”) costs incurred on developed properties are recorded in “Proved properties” and therefore subject to amortization. G&G costs incurred that are directly associated with specific unproved properties are capitalized in “Unproved properties” and evaluated as part of the total capitalized costs associated with a prospect. The cost of unproved properties not being amortized is assessed quarterly, on a property-by-property basis, to determine whether such properties have been impaired. In determining whether such costs should be impaired, we evaluate current drilling results, lease expiration dates, current oil and gas industry conditions, international economic conditions, capital availability, and available geological and geophysical information. Any impairment assessed is added to the cost of proved properties being amortized. Full-Cost Ceiling Test . At the end of each quarterly reporting period, the unamortized cost of oil and natural gas properties (including natural gas processing facilities, capitalized asset retirement obligations, net of related salvage values and deferred income taxes) is limited to the sum of the estimated future net revenues from proved properties (excluding cash outflows from recognized asset retirement obligations, including future development and abandonment costs of wells to be drilled, using the preceding 12-months’ average price based on closing prices on the first day of each month, adjusted for price differentials, discounted at 10% , and the lower of cost or fair value of unproved properties) adjusted for related income tax effects (“Ceiling Test”). The calculations of the Ceiling Test and provision for DD&A are based on estimates of proved reserves. There are numerous uncertainties inherent in estimating quantities of proved reserves and in projecting the future rates of production, timing, and plan of development. The accuracy of any reserves estimate is a function of the quality of available data and of engineering and geological interpretation and judgment. Results of drilling, testing, and production subsequent to the date of the estimate may justify revision of such estimates. Accordingly, reserves estimates are often different from the quantities of oil and natural gas that are ultimately recovered. Primarily due to pricing differences between the 12-month average oil and gas prices used in the Ceiling Test and the forward strip prices used to estimate the initial fair value of oil and gas properties on the Company’s April 22, 2016 (successor) balance sheet, we incurred a non-cash impairment write-down for the period of April 23, 2016 through June 30, 2016 (successor) of $133.5 million . Write-downs in prior periods were primarily the result of declining historical prices along with timing changes and reduction of projects and changes in our reserves product mix. For the three months ended June 30, 2015 (predecessor), we reported a non-cash impairment write-down of $260.5 million on our oil and natural gas properties. For the period of January 1, 2016 through April 22, 2016 (predecessor) and the six months ended June 30, 2015 (predecessor) , we reported non-cash impairment write-downs of $77.7 million and $763.1 million , respectively, on our oil and natural gas properties. If future capital expenditures outpace future discounted net cash flows in our reserve calculations, if we have significant declines in our oil and natural gas reserves volumes (which also reduces our estimate of discounted future net cash flows from proved oil and natural gas reserves) or if oil or natural gas prices decline or remain at levels prevalent in the current period, it is likely that non-cash write-downs of our oil and natural gas properties will occur in the future. We cannot control and cannot predict what future prices for oil and natural gas will be, thus we cannot estimate the amount or timing of any potential future non-cash write-down of our oil and natural gas properties due to decreases in oil or natural gas prices. However, due to current trends in commodity pricing it is possible that we will record additional ceiling test write-downs in future periods. Revenue Recognition . Oil and gas revenues are recognized when production is sold to a purchaser at a fixed or determinable price, when delivery has occurred and title has transferred, and if collectability of the revenue is probable. The Company uses the entitlement method of accounting in which we recognize our ownership interest in production as revenue. If our sales exceed our ownership share of production, the natural gas balancing payables are reported in “Accounts payable and accrued liabilities” on the accompanying condensed consolidated balance sheets. Natural gas balancing receivables are reported in “Other current assets” on the accompanying condensed consolidated balance sheets when our ownership share of production exceeds sales. As of June 30, 2016 and December 31, 2015 , we did not have any material natural gas imbalances. Accounts Receivable. We assess the collectability of accounts receivable, and based on our judgment, we accrue a reserve when we believe a receivable may not be collected. At June 30, 2016 and December 31, 2015 , we had an allowance for doubtful accounts of approximately $0.3 million and $0.1 million , respectively. The allowance for doubtful accounts has been deducted from the total “Accounts receivable” balance on the accompanying condensed consolidated balance sheets. At June 30, 2016 , our “Accounts receivable” balance included $13.4 million for oil and gas sales, $4.5 million for joint interest owners, $1.5 million for severance tax credit receivables and $2.7 million for other receivables. At December 31, 2015 , our “Accounts receivable” balance included $14.9 million for oil and gas sales, $4.9 million for joint interest owners, $1.2 million for severance tax credit receivables and $0.7 million for other receivables. Supervision Fees. Consistent with industry practice, we charge a supervision fee to the wells we operate, including our wells, in which we own up to a 100% working interest. Supervision fees are recorded as a reduction to “General and administrative, net”, on the accompanying condensed consolidated statements of operations. Our supervision fees are allocated to each well based on general and administrative costs incurred for well maintenance and support. The amount of supervision fees charged for the period of April 1, 2016 through April 22, 2016 (predecessor), the period of April 23, 2016 through June 30, 2016 (successor), the three months ended June 30, 2015 (predecessor), the period of January 1, 2016 through April 22, 2016 (predecessor) and the six months ended June 30, 2015 (predecessor) did not exceed our actual costs incurred. The total amount of supervision fees charged to the wells we operated were $0.7 million , $1.3 million and $2.2 million for the period of April 1, 2016 through April 22, 2016 (predecessor), the period of April 23, 2016 through June 30, 2016 (successor) and the three months ended June 30, 2015 (predecessor) , respectively and were $2.7 million and $4.9 million for the period of January 1, 2016 through April 22, 2016 (predecessor) and the six months ended June 30, 2015 (predecessor) , respectively. Other Current Assets. Included in "Other current assets" on the accompanying condensed consolidated balance sheets are inventories which consist primarily of tubulars and other equipment and supplies that we expect to place in service in production operations. Our inventories are recorded at cost (weighted average method) and totaled $0.4 million at June 30, 2016 and $0.6 million at December 31, 2015 . Also included in "Other current assets" on the accompanying condensed consolidated balance sheets are prepaid expenses totaling $3.3 million and $4.4 million at June 30, 2016 and December 31, 2015 , respectively. These prepaid amounts cover well insurance, drilling contracts and various other prepaid expenses. Income Taxes. Deferred taxes are determined based on the estimated future tax effects of differences between the financial statement and tax basis of assets and liabilities, given the provisions of the enacted tax laws. We follow the recognition and disclosure provisions under guidance contained in FASB ASC 740-10-25. Under this guidance, tax positions are evaluated for recognition using a more-likely-than-not threshold, and those tax positions requiring recognition are measured as the largest amount of tax benefit that is greater than fifty percent likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. Our policy is to record interest and penalties relating to uncertain tax positions in income tax expense. At June 30, 2016, we did not have any accrued liability for uncertain tax positions and do not anticipate recognition of any significant liabilities for uncertain tax positions during the next 12 months. Our U.S. Federal and state income tax income tax returns for years prior to 2015 are subject to examination to the extent of our net operating loss (NOL) carryforwards. There are no material unresolved items related to periods previously audited by these taxing authorities. No other jurisdiction returns are significant to our financial position. The Company has evaluated the full impact of the reorganization on our carryover tax attributes and believes it will not incur an immediate cash income tax liability as a result of emergence from bankruptcy. The Company will be able to fully absorb cancellation of debt income with NOL carryforwards. The amount of remaining NOL carryforward available will be limited under IRC Sec. 382 due to the change in control. The Company’s amortizable tax basis exceeded the book carrying value of its assets at April 22 and June 30, 2016, leaving the Company in a net deferred tax asset position. Management has determined that it is not more likely than not that the Company will realize future cash benefits from this additional tax basis and remaining carryover items and accordingly has taken a full valuation allowance to offset these tax assets. The Company is not recognizing any tax benefit from operating losses generated for the period of April 23, 2016 through June 30, 2016 (successor) or the period of January 1, 2016 through April 22, 2016 (predecessor) . Accounts Payable and Accrued Liabilities . The “Accounts payable and accrued liabilities” balances on the accompanying condensed consolidated balance sheets are summarized below (in thousands): Successor Predecessor Trade accounts payable (1) $ 13,519 $ — Accrued operating expenses (1) 3,441 — Accrued compensation costs (1) 2,919 — Asset retirement obligation – current portion 5,058 7,165 Accrued taxes (1) 4,028 — Accrued price risk liabilities (1) 8,770 — Accrued corporate and legal fees (1) 9,922 — Other payables (1)(2) 1,039 498 Total accounts payable and accrued liabilities $ 48,696 $ 7,663 (1) Classified as Liabilities subject to compromise as of December 31, 2015 . Total Liabilities subject to compromise were $984.4 million as of December 31, 2015 . (2) Total balance at December 31, 2015 was $5.3 million , of which $4.8 million was classified as Liabilities subject to compromise with the remaining portion classified as "Other payables". Cash and Cash Equivalents. We consider all highly liquid instruments with an initial maturity of three months or less to be cash equivalents. These amounts do not include cash balances that are contractually restricted. Treasury Stock. Our treasury stock repurchases are reported at cost and are included “Treasury stock held, at cost" on the accompanying condensed consolidated balance sheets. All treasury stock was canceled upon emergence from bankruptcy and no new treasury stock existed at June 30, 2016. New Accounting Pronouncements. In May 2014, the FASB issued ASU 2014-09, providing a comprehensive revenue recognition standard for contracts with customers that supersedes current revenue recognition guidance. The guidance requires entities to recognize revenue using the following five-step model: identify the contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue as the entity satisfies each performance obligation. Adoption of this standard could result in retrospective application, either in the form of recasting all prior periods presented or a cumulative adjustment to equity in the period of adoption. In August 2015, the FASB issued ASU 2015-14 which defers the effective date of previously issued ASU 2014-09 by one year for both public and private companies. The guidance is effective for annual and interim reporting periods beginning after December 15, 2017. We are currently reviewing the new requirements to determine the impact of this guidance on our financial statements. In August 27, 2014, the FASB issued ASU 2014-15, which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if “conditions or events raise substantial doubt about the entity’s ability to continue as a going concern.” The guidance applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. In November 2015, the FASB issued ASU 2015-17, which requires companies to classify all deferred tax assets and liabilities as non-current on the balance sheet instead of separating deferred taxes into current and non-current amounts. The guidance is effective for fiscal years beginning after December 15, 2016, including interim periods thereafter, with early adoption permitted and either with prospective or retrospective application permitted. This standard was adopted prospectively as of the bankruptcy emergence date April 22, 2016 and therefore prior years are no longer comparable. This standard had no immediate impact due to the full valuation allowance. In February 2016, the FASB issued ASU 2016-02, which requires lessees to record most leases on the balance sheet. Under the new guidance, lease classification as either a finance lease or an operating lease will determine how lease-related revenue and expense are recognized. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently reviewing these new requirements to determine the impact of this guidance on our financial statements. In March 2016, the FASB issued ASU 2016-09, which simplifies several aspects of the accounting for employee share based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years, with early adoption permitted. This standard was adopted as of the bankruptcy emergence date April 22, 2016 and had no immediate impact due to the cancellation of shares upon emergence.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	(3) Share-Based Compensation Emergence from Voluntary Reorganization Upon the Company's emergence from bankruptcy on April 22, 2016, as discussed in Note 1A, the Company’s common stock was canceled and new common stock was issued. The Company's previous share-based compensation awards were either vested or canceled upon the Company's emergence from bankruptcy. Share-Based Compensation Plans Upon the Company's emergence from bankruptcy on April 22, 2016, as discussed in Note 1A, the Company's previous share-based compensation plans were canceled and the new Swift Energy Company 2016 Equity Incentive Plan was approved in accordance with the joint plan of reorganization. Under the previous share-based compensation plan the outstanding restricted stock awards for most employees vested under on an accelerated basis while awards issued to certain officers of the Company and the Board of Directors were canceled. For awards granted after emergence from bankruptcy, the Company does not estimate the forfeiture rate during the initial calculation of compensation cost but rather has elected to account for forfeitures in compensation cost when they occur. For the predecessor periods the Company had estimated the forfeiture rate for share-based compensation during the initial calculation of compensation cost. The Company computes a deferred tax benefit for restricted stock and stock options expected to generate future tax deductions by applying its effective tax rate to the expense recorded. For restricted stock the Company's actual tax deduction is based on the value of the shares at the time of vesting. For the period of April 23, 2016 through June 30, 2016 (successor) no shares vested. For the period of January 1, 2016 through April 22, 2016 (predecessor) the tax deduction realized was significantly less than the associated deferred tax asset, however the tax asset had been fully offset with a valuation allowance in prior periods so no incremental tax expense was realized. For the three and six months ended June 30, 2015 (predecessor), we did recognize an income tax shortfall in earnings of $0.2 million and $1.4 million , respectively, primarily related to restricted stock awards that vested at a price lower than the grant date fair value. Share-based compensation expense for awards issued to both employees and non-employees, which was recorded in “General and administrative, net” in the accompanying condensed consolidated statements of operations, was $0.1 million , $0.2 million , $1.2 million , $0.9 million and $2.0 million for the period of April 1, 2016 through April 22, 2016 (predecessor), the period of April 23, 2016 through June 30, 2016 (successor), the three months ended June 30, 2015 (predecessor), the period of January 1, 2016 through April 22, 2016 (predecessor) and the six months ended June 30, 2015 (predecessor) , respectively. There was no Share-based compensation expense recorded in lease operating cost for the period of April 1, 2016 through April 22, 2016 (predecessor) and the period of April 23, 2016 through June 30, 2016 (successor) , while there was $0.1 million , less than $0.1 million and $0.1 million for the three months ended June 30, 2015 (predecessor), period of January 1, 2016 through April 22, 2016 (predecessor) and six months ended June 30, 2015 (predecessor), respectively. There was no share-based compensation expense capitalized for the period of April 23, 2016 through June 30, 2016 (successor). We capitalized $0.1 million , $0.4 million , $0.2 million and $0.7 million of share-based compensation for the period of April 1, 2016 through April 22, 2016 (predecessor) , the three months ended June 30, 2015 (predecessor), the period of January 1, 2016 through April 22, 2016 (predecessor) and the six months ended June 30, 2015 (predecessor), respectively. We view stock option awards and restricted stock awards with graded vesting as single awards with an expected life equal to the average expected life of component awards, and we amortize the awards on a straight-line basis over the life of the awards. Stock Option Awards On June 8, 2016, 105,811 stock option awards were granted to various officers and directors with an exercise price of $23.25 . The compensation cost related to these awards is based on the grant date fair value and is typically expensed over the vesting period (generally one to three years ). We use the Black-Scholes-Merton option pricing model to estimate the fair value of stock option awards with the following assumptions for stock option awards issued during the period of April 23, 2016 through June 30, 2016 (successor) : Stock Option Valuation Assumptions Expected Dividend — Expected volatility 69.3 % Risk-free interest rate 1.42 % Expected life of stock option awards (in years) 5 Weighted average grant-date fair value $ 13.42 To estimate expected volatility of our 2016 stock option grants we used the historical volatility of stock prices based on a group of our peer companies. Restricted Stock Awards The 2016 equity incentive compensation plan allows for the issuance of restricted stock awards that generally may not be sold or otherwise transferred until certain restrictions have lapsed. The compensation cost related to these awards is based on the grant date fair and is value typically expensed over the requisite service period (generally one to three years ). On June 8, 2016, 254,905 restricted stock awards were granted to various officers and directors with a grant-date fair value of $23.25 . These grants cliff vest over a period of one to three years. The following table represents restricted stock award activity for the period of April 23, 2016 through June 30, 2016 (successor) : Shares Grant Price Restricted shares outstanding, beginning of period (successor) — $ — Restricted shares granted 254,905 $ 23.25 Restricted shares canceled — $ — Restricted shares vested — — Restricted shares outstanding, end of period (successor) 254,905 $ 23.25

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	(4) Earnings Per Share Upon the Company's emergence from bankruptcy on April 22, 2016, as discussed in Note 1A, the Company’s then outstanding common stock was canceled and new common stock and Warrants were issued. Basic earnings per share (“Basic EPS”) has been computed using the weighted average number of common shares outstanding during each period. Diluted earnings per share ("Diluted EPS") assumes, as of the beginning of the period, exercise of stock options and restricted stock grants using the treasury stock method. Diluted EPS also assumes conversion of performance-based restricted stock units to common shares based on the number of shares (if any) that would be issuable, according to predetermined performance and market goals, if the end of the reporting period was the end of the performance period. As we recognized a net loss for the period of April 23, 2016 through June 30, 2016 (successor) and the three and six months ended June 30, 2015 (predecessor), the unvested share-based payments and stock options were not recognized in Diluted EPS calculations as they would be antidilutive. Certain of our stock options and restricted stock grants that would potentially dilute Basic EPS in the future were also antidilutive for the period of January 1, 2016 through April 22, 2016 (predecessor) , and are discussed below. The following is a reconciliation of the numerators and denominators used in the calculation of Basic and Diluted EPS for the periods indicated below (in thousands, except per share amounts): Successor from April 23, 2016 through June 30, 2016 Predecessor from April 1, 2016 through April 22, 2016 Predecessor Three Months Ended June 30, 2015 Net Income (Loss) Shares Per Share Net Income (Loss) Shares Per Share Amount Net Income (Loss) Shares Per Share Amount Basic EPS: Net Income (Loss) and Share Amounts $ (149,601 ) 10,000 $ (14.96 ) $ 959,913 44,754 $ 21.45 $ (292,867 ) 44,516 $ (6.58 ) Dilutive Securities: Restricted Stock Awards — 894 — Restricted Stock Units — — — Diluted EPS: Net Income (Loss) and Assumed Share Conversions $ (149,601 ) 10,000 $ (14.96 ) $ 959,913 45,648 $ 21.03 $ (292,867 ) 44,516 $ (6.58 ) Predecessor from January 1, 2016 through April 22, 2016 Predecessor Six Months Ended June 30, 2015 Net Income (Loss) Shares Per Share Net Income (Loss) Shares Per Share Basic EPS: Net Income (Loss) and Share Amounts $ 851,611 44,692 $ 19.06 $ (769,944 ) 44,374 $ (17.35 ) Dilutive Securities: Restricted Stock Awards 1,005 — Restricted Stock Units — — Diluted EPS: Net Income (Loss) and Assumed Share Conversions $ 851,611 45,697 $ 18.64 $ (769,944 ) 44,374 $ (17.35 ) Approximately 1.2 million and 1.3 million stock options to purchase shares were not included in the computation of Diluted EPS for the period of April 1, 2016 through April 22, 2016 (predecessor) and period of January 1, 2016 through April 22, 2016 (predecessor) , because their exercise price was out of the money, while 1.3 million stock options to purchase shares were not included in the computation of Diluted EPS for the three and six months ended June 30, 2015 (predecessor) because these stock options were antidilutive. Approximately 0.3 million restricted stock awards for the period of April 1, 2016 through April 22, 2016 (predecessor) and period of January 1, 2016 through April 22, 2016 (predecessor) , respectively, and approximately 0.7 million restricted stock awards for the three and six months ended June 30, 2015 (predecessor) were not included in the computation of Diluted EPS because they were antidilutive. Approximately 0.8 million shares for the period of April 1, 2016 through April 22, 2016 (predecessor) and the period of January 1, 2016 through April 22, 2016 (predecessor) and approximately 1.2 million shares for the three and six months ended June 30, 2015 (predecessor), related to performance-based restricted stock units that could be converted to common shares based on predetermined performance and market goals were not included in the computation of Diluted EPS because the performance and market conditions had not been met.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Long-Term Debt	(5) Debt Bankruptcy Filing . The Chapter 11 filing of the Company and the Chapter 11 Subsidiaries constituted an event of default with respect to our then-existing debt obligations. As a result, the Company's pre-petition unsecured senior notes and secured debt under the Prior First Lien Credit Facility became immediately due and payable, but any efforts to enforce such payment obligations were automatically stayed as a result of the Chapter 11 filing. On April 22, 2016, upon the Company's emergence from bankruptcy, the senior notes and borrowing under the DIP Credit Agreement (along with certain unsecured claims) were exchanged for 88.5% of the common stock of the reorganized entity. Additional information regarding the bankruptcy proceedings is included in Note 1A of these condensed consolidated financial statements. Our debt balances as of June 30, 2016 and December 31, 2015 , were as follows (in thousands): Successor Predecessor 7.125% senior notes due 2017 (1) $ — $ — 8.875% senior notes due 2020 (1) — — 7.875% senior notes due 2022 (1) — — Bank Borrowings 254,000 324,900 Total Debt $ 254,000 $ 324,900 Less: Current portion of long-term debt (2) $ — $ (324,900 ) Long-Term Debt $ 254,000 $ — (1) Classified as Liabilities subject to compromise as of December 31, 2015. (2) As a result of our Chapter 11 filing, we classified our Prior First Lien Credit Agreement borrowings and DIP Credit Agreement borrowings as current as of December 31, 2015. Reclassification of Senior Notes Liabilities . Senior Notes due in 2017 of $250.0 million , Senior Notes due in 2020 of $225.0 million and Senior Notes due in 2022 of $400.0 million are included in Liabilities subject to compromise in the condensed consolidated balance sheets as of December 31, 2015 . These notes were canceled upon emergence from bankruptcy. Reclassification of Prior First Lien Credit Facility Liabilities . Amounts outstanding under our pre-petition Prior First Lien Credit Facility due in 2017 of $324.9 million were reclassified as a current liability in the condensed consolidated balance sheet dated as of December 31, 2015 due to cross-default provisions as a result of the bankruptcy filings. Debtor-In-Possession Financing . As part of the Chapter 11 filings, we entered into the DIP Credit Agreement. The proceeds of borrowings under the DIP Credit Agreement were primarily used to pay down the pre-petition Prior First Lien Credit Facility upon emergence from bankruptcy, and were also used to pay certain costs, fees and expenses related to the Chapter 11 cases, authorized pre-petition claims, and amounts due in connection with the DIP Credit Agreement, including on account of certain “adequate protection” obligations. Pursuant to the Plan, the DIP Credit Agreement, at the option of the lenders, converted into the post-emergence Company’s common stock, which was part of the 88.5% of the common stock distributed to the then current holders of the senior notes and certain unsecured creditors upon emergence from the bankruptcy proceedings. As a result, the $75.0 million borrowed under the DIP Credit Agreement was not required to be repaid and terminated upon the Company’s exit from bankruptcy. Under the DIP Credit Agreement, interest accrued at a rate per year equal to LIBOR plus 12.0% for Eurodollar Rate Loans or the alternative base rate plus 11.0% . We paid the lenders under the DIP Credit Agreement a 3.0% commitment fee, at the time funds were made available under the facility, totaling $0.9 million and was included in interest expense during the period of January 1, 2016 through April 22, 2016 (predecessor) . We were also required to pay to the Backstop Lenders (as defined in the DIP Credit Agreement) a non-refundable backstop fee on the pro rata share of such Backstop Lender’s share of the loan commitments, payable in the form of 7.5% of the common stock issued by the Company upon emergence from the Chapter 11 cases. An original issue discount of 5% was paid and recorded as interest expense by the Company during the period of January 1, 2016 through April 22, 2016 (predecessor) at the time of the drawdowns against the DIP Credit Agreement, resulting in net proceeds to the Company of 95% of the gross drawdown amount. Interest expense on the DIP Credit Agreement totaled $4.5 million and $6.4 million during the period of April 1, 2016 through April 22, 2016 (predecessor) and the period of January 1, 2016 through April 22, 2016 (predecessor) , respectively. Prior First Lien Credit Facility Bank Borrowings . We had $324.9 million in outstanding borrowings under our Prior First Lien Credit Facility at December 31, 2015 . The interest rate on our Prior First Lien Credit Facility was either (a) the lead bank’s prime rate plus an applicable margin or (b) the Eurodollar rate plus an applicable margin. However with respect to (a), if the lead bank’s prime rate was not higher than each of the federal funds rate plus 0.5% , and the adjusted London Interbank Offered Rate (“LIBOR”) plus 1% , the greatest of these three rates then applied. The applicable margins vary depending on the level of outstanding debt with escalating rates of 100 to 200 basis points above the Alternative Base Rate and escalating rates of 200 to 300 basis points for Eurodollar rate loans. The commitment fee terms associated with the Prior First Lien Credit Facility were 0.50% . During the bankruptcy proceedings we paid interest on our Prior First Lien Credit Facility in the normal course. Interest expense on the Prior First Lien Credit Facility, including commitment fees and amortization of debt issuance costs, totaled $0.7 million and $2.2 million for the period of April 1, 2016 through April 22, 2016 (predecessor) and the three months ended June 30, 2015 (predecessor), respectively, and $6.8 million and $4.0 million for the period of January 1, 2016 through April 22, 2016 (predecessor) and six months ended June 30, 2015 (predecessor), respectively. The amount of commitment fees included in interest expense, net was no t material for the period of April 1, 2016 through April 22, 2016 (predecessor) and period of January 1, 2016 through April 22, 2016 (predecessor) , respectively, and $0.1 million and $0.4 million and three and six months ended June 30, 2015 (predecessor), respectively. Additionally, we capitalized interest on our unproved properties in the amount $1.2 million and $2.4 million for the three and six months ended June 30, 2015 (predecessor), respectively. Capitalized interest on our unproved properties would have been immaterial for the period of January 1, 2016 through April 22, 2016 (predecessor) and the period of April 23, 2016 through June 30, 2016 (successor) , therefore we did no t capitalize interest on our unproved properties for those periods. New Credit Facility. As discussed in Note 1A of these condensed consolidated financial statements, on the Effective Date, the Prior First Lien Credit Facility was terminated and paid in full, and the Company entered the New Credit Facility among the Company, as borrower, JPMorgan Chase Bank, National Association, as administrative agent, and certain lenders party thereto. The New Credit Facility matures on April 22, 2019 and provides for advancing loans of up to the maximum credit amount that the lenders, in the aggregate, make available, subject to the Company meeting certain financial requirements, including certain financial tests. As of the Effective Date, the maximum credit amount was $500.0 million with an initial borrowing base of $320.0 million . The obligations under the New Credit Facility are secured, subject to certain exceptions, by a first priority lien of the Company's, and certain of its subsidiaries, oil and natural gas properties containing at least 95% of the Company's estimated proved producing reserves. The terms of the New Credit Facility also include the following, based on terms as defined in the New Credit Facility agreement: • As of the Effective Date, the initial borrowing base of $320.0 million is allocated between a non-conforming borrowing base of $70 million , which terminates on November 1, 2017, and a conforming borrowing base of $250 million . Until November 1, 2017 if the conforming borrowing base is redetermined and increased or decreased, the non-conforming borrowing base will be automatically revised so that the amount of the overall borrowing base will equal the total borrowing base in effect immediately prior to such redetermination. Upon termination of the non-conforming borrowing base on November 1, 2017, all borrowings and interest under the non-conforming borrowing base are payable in full. As of June 30, 2016 , the Company had borrowings of $4 million and $250 million on the non-conforming borrowing base and conforming borrowing base, respectively. • Borrowing base redeterminations are scheduled to occur semi-annually beginning on November 1, 2016 and are determined by the lenders in their discretion and in the usual and customary manner. • The interest rate for Alternative Base Rate ("ABR") loans will be based on the ABR plus the applicable margin, and the interest rate for Eurodollar loans will be based on the adjusted London Interbank Offered Rate (“LIBOR”), plus the applicable margin. • The applicable margins vary and have escalating rates of either (a) 500 to 600 basis points for ABR loans and 600 to 700 basis points for Eurodollar loans, during the non-conforming period, and depending on the level of the non-conforming borrowing base and the non-conforming borrowing base loans outstanding, or (b) 200 to 300 basis points for ABR loans and 300 to 400 basis points for Eurodollar loans depending on the borrowing base utilization percentage, after the non-conforming period or when the non-conforming borrowing base is zero. • Certain covenants, including (a) a ratio of total debt to EBITDA as defined in the agreement not to exceed 6.5 to 1.0 for the quarter ending September 30, 2016, declining gradually over time to 3.5 to 1.0 for the quarter ending March 31, 2019, and thereafter, (b) a current ratio of not less than 1.0 to 1.0 at the end of each quarter beginning June 30, 2016, and (c) a minimum liquidity requirement of $10 million . As of June 30, 2016 , the Company was in compliance with these new covenants and liquidity requirements. Interest expense on the New Credit Facility, including commitment fees and amortization of debt issuance costs, totaled $4.3 million for the period of April 23, 2016 through June 30, 2016 (successor) . The amount of commitment fees included in interest expense, net was $0.1 million for the period of April 23, 2016 through June 30, 2016 (successor) . Senior Notes Due 2022. These notes consisted of $400.0 million of 7.875% senior notes due 2022 that were scheduled to mature on March 1, 2022. The filing of the petition for bankruptcy protection constituted an “event of default” under the indenture governing these senior notes. On April 22, 2016, the obligations of the Company and the Chapter 11 Subsidiaries with respect to these notes were canceled pursuant to the plan of reorganization and the holders thereof were issued common stock of the post-emergence entity in exchange therefor. Senior Notes Due 2020 . These notes consisted of $225.0 million of 8.875% senior notes due 2020 issued at 98.389% of par, which equated to an effective yield to maturity of 9.125% . The filing of the petition for bankruptcy protection constituted an “event of default” under the indenture governing these senior notes. On April 22, 2016, the obligations of the Company and the Chapter 11 Subsidiaries with respect to these notes were canceled pursuant to the plan of reorganization and the holders thereof were issued common stock of the post-emergence entity in exchange therefor. Senior Notes Due 2017 . These notes consisted of $250.0 million of 7.125% senior notes due in 2017, which were issued on June 1, 2007 at 100% of the principal amount and were scheduled to mature on June 1, 2017. The filing of the petition for bankruptcy protection constituted an “event of default” under the indenture governing these senior notes. On April 22, 2016, the obligations of the Company and the Chapter 11 Subsidiaries with respect to these notes were canceled pursuant to the plan of reorganization and the holders thereof were issued common stock of the post-emergence entity in exchange therefor. Debt Issuance Costs . Our policy is to capitalize legal fees, accounting fees, underwriting fees, printing costs, and other direct expenses associated with our senior notes, amortizing those costs on an effective interest basis over the term of the senior notes, while issuance costs related to a line of credit arrangement are capitalized and then amortized ratably over the term of the line of credit arrangement, regardless of whether there are any outstanding borrowings. Interest Expense on Senior Notes . There was no interest expense on the senior notes, for the period of April 1, 2016 through April 22, 2016 (predecessor) and the period of January 1, 2016 through April 22, 2016 (predecessor) due to our bankruptcy proceedings. Contractual interest on the senior notes for the period of April 1, 2016 through April 22, 2016 (predecessor) and the period of January 1, 2016 through April 22, 2016 (predecessor) totaled $4.2 million and $21.6 million , respectively. Interest expense on the senior notes totaled $17.7 million and $35.4 million for the three and six months ended June 30, 2015 (predecessor).

Acquisitions and Dispositions A

Acquisitions and Dispositions Acquisitions and Dispostions	6 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Mergers, Acquisitions and Dispositions Disclosures	(6) Acquisitions and Dispositions On April 15, 2016, we closed our transaction with Texegy LLC for the sale of a 75% working interest share of the Company's holdings in the South Bearhead Creek and Burr Ferry field areas located in Central Louisiana. The net proceeds of $46.9 million received by the Company in this transaction, including deposits received prior to the closing date, were credited to the full cost pool and used primarily to reduce the amount of borrowings under the Company’s Prior First Lien Credit Facility, and for other general corporate purposes. This disposition also included the buyer's assumption of approximately $6.5 million of plugging and abandonment liability. No gain or loss was recorded on the sale of this property. Effective April 25, 2016, we disposed of our Masters Creek field in Central Louisiana. We received net proceeds of less than $0.1 million and the buyer's assumption of approximately $8.1 million of plugging and abandonment liability. No gain or loss was recorded on the sale of this property. There were no other material acquisitions or dispositions during the period of April 1, 2016 through April 22, 2016 (predecessor) and the period of April 23, 2016 through June 30, 2016 (successor) .

Price-Risk Management Price-Ris

Price-Risk Management Price-Risk Management (Notes)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Price-Risk Management Activities	(7) Price-Risk Management Activities Derivatives are recorded on the balance sheet at fair value with changes in fair value recognized in earnings. The changes in the fair value of our derivatives are recognized in "Price-risk management and other, net" on the accompanying condensed consolidated statements of operations. We have a price-risk management policy to use derivative instruments to protect against declines in oil and natural gas prices, mainly through the purchase of price swaps. During the period of April 23, 2016 through June 30, 2016 (successor) there was a $9.9 million loss while during the three and six months ended June 30, 2015 (predecessor) there was a net loss and net gain of $0.1 million and $0.3 million , respectively, related to our derivative activities. There were no derivative instruments outstanding during the period of January 1, 2016 through April 22, 2016. At June 30, 2016 , we had $0.3 million in receivables for settled derivatives which were recognized on the accompanying condensed consolidated balance sheet in “Accounts receivable” and were subsequently collected in July 2016. At June 30, 2016 , we also had $0.7 million in payables for settled derivatives which were recognized on the accompanying condensed consolidated balance sheet in "Accounts payable and accrued liabilities" and were subsequently paid in July 2016. The fair values of our derivatives are computed using commonly accepted industry-standard models and are periodically verified against quotes from brokers. There was $0.1 million in current unsettled derivative assets, $0.1 million in long-term unsettled derivative assets and $8.0 million and $1.7 million current and long-term unsettled derivative liabilities, respectively, as of June 30, 2016 . The Company uses an International Swap and Derivatives Association "ISDA" master agreement for our derivative contracts. This is an industry standardized contract containing the general conditions of our derivative transactions including provisions relating to netting derivative settlement payments under certain circumstances (such as default). For reporting purposes, the Company has elected to not offset the asset and liability fair value amounts of its derivatives on the accompanying balance sheets. Under the right of set-off, there was $9.5 million in net fair value liability at June 30, 2016 . For further discussion related to the fair value of the Company's derivatives, refer to Note 8 of these condensed consolidated financial statements. The following tables summarize the range of minimum and maximum prices as well as future production volumes for our unsettled derivative contracts in place as of June 30, 2016 : Oil Derivative Swaps (NYMEX WTI Settlements) Total Volumes (Bbls) Minimum Price Maximum Price 2016 Contracts 3Q16 172,497 $ 46.00 $ 49.48 4Q16 155,997 $ 46.90 $ 50.36 2017 Contracts 1Q17 106,245 $ 47.25 $ 50.55 2Q17 97,401 $ 47.25 $ 50.85 3Q17 90,000 $ 47.25 $ 51.02 4Q17 84,798 $ 47.25 $ 51.30 Natural Gas Derivative Swaps (NYMEX Henry Hub Settlements) Total Volumes Minimum Price Maximum Price 2016 Contracts 3Q16 3,980,002 $ 2.30 $ 2.80 4Q16 5,250,003 $ 2.67 $ 2.80 2017 Contracts 1Q17 3,975,000 $ 2.77 $ 3.09 2Q17 3,625,005 $ 2.77 $ 2.85 3Q17 3,339,999 $ 2.77 $ 2.91 4Q17 3,125,001 $ 2.77 $ 3.03 Natural Gas Basis Derivative Swap East Texas Houston Ship Channel Settlements) Total Volumes Minimum Price Maximum Price 2016 Contracts 3Q16 3,979,902 $ (0.05 ) $ (0.02 ) 4Q16 5,250,003 $ (0.08 ) $ (0.05 ) 2017 Contracts 1Q17 3,577,500 $ (0.10 ) $ (0.05 ) 2Q17 3,262,506 $ (0.05 ) $ (0.02 ) 3Q17 3,005,001 $ (0.05 ) $ (0.01 ) 4Q17 2,812,503 $ (0.05 ) $ (0.04 )

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	(8) Fair Value Measurements Fair Value on a Recurring Basis . Our financial instruments consist of cash and cash equivalents, restricted cash, accounts receivable, accounts payable, bank borrowings, and senior notes. The carrying amounts of cash and cash equivalents, restricted cash, accounts receivable, and accounts payable approximate fair value due to the highly liquid or short-term nature of these instruments. In connection with fresh start accounting, the Company incurred various other non-recurring fair value adjustments to our oil and gas properties, asset retirement obligation, other long-term liabilities and stockholder's equity of approximately $227 million as of April 22, 2016 . See Note 1B of these condensed consolidated financial statements for more information. Based upon quoted market prices as of December 31, 2015 , the fair value and carrying value of our senior notes was as follows (in millions): Predecessor Fair Value Carrying Value 7.125% senior notes due 2017 $ 23.0 $ 250.0 8.875% senior notes due 2020 (1) $ 21.4 $ 225.0 7.875% senior notes due 2022 (1) $ 34.5 $ 400.0 (1) Includes write-off of discount associated with the 2020 notes and premium associated with the 2022 notes due to the Company's bankruptcy proceedings. Our senior notes due in 2017, 2020 and 2022 were stated at carrying value on our accompanying condensed consolidated balance sheets until they were canceled as part of the Company's plan of reorganization and emergence from bankruptcy. If we had recorded these notes at fair value they would have been Level 1 in our fair value hierarchy as they were traded in an active market with quoted prices for identical instruments until they were canceled. The carrying amount of the revolving long-term debt approximates fair value because the Company's current borrowing base rate does not materially differ from market rates for similar bank borrowings. T he following table presents our assets and liabilities that are measured on a recurring basis at fair value as of June 30, 2016 , and are categorized using the fair value hierarchy. As of December 31, 2015 all of the Company's hedging agreements had settled. For additional discussion related to the fair value of the Company's derivatives, refer to Note 7 of these condensed consolidated financial statements. The fair value hierarchy has three levels based on the reliability of the inputs used to determine the fair value (in millions): Fair Value Measurements at Total Quoted Prices in Significant Other Significant June 30, 2016 Assets Natural Gas Basis Derivatives $ 0.2 $ — $ 0.2 $ — Liabilities Natural Gas Derivatives 7.5 — 7.5 — Natural Gas Basis Derivatives 0.2 — 0.2 — Oil Derivatives $ 2.0 $ — $ 2.0 $ — Our current and long-term unsettled derivative assets and liabilities in the table above are measured at gross fair value and are shown on the accompanying condensed consolidated balance sheets in “Other current assets”, "Other long-term assets", "Accounts payable and accrued liabilities" and "Other long-term liabilities", respectively. Level 1 – Uses quoted prices in active markets for identical, unrestricted assets or liabilities. Instruments in this category have comparable fair values for identical instruments in active markets. Level 2 – Uses quoted prices for similar assets or liabilities in active markets or observable inputs for assets or liabilities in non-active markets. Instruments in this category are periodically verified against quotes from brokers and include our commodity derivatives that we value using commonly accepted industry-standard models which contain inputs such as contract prices, risk-free rates, volatility measurements and other observable market data that are obtained from independent third-party sources. Level 3 – Uses unobservable inputs for assets or liabilities that are in non-active markets. Fair Value on a Non-Recurring Basis . The Company discloses or recognizes its nonfinancial assets and liabilities, such as the fresh start valuation of oil and natural gas properties and the initial recognition of asset retirement obligations, at fair value on a non-recurring basis. The fresh start valuation of oil and natural gas properties is described further in Note 1B and includes significant unobservable inputs and therefore the Company has designated these assets as Level 3. Estimates for the initial recognition of asset retirement obligations are derived from historical costs as well as management’s expectation of future cost environments. As there is no corroborating market activity to support the assumptions used, the Company has designated these liabilities as Level 3. A reconciliation of the beginning and ending balances of the Company’s asset retirement obligation is presented in Note 9 of these condensed consolidated financial statements.

Asset Retirement Obligations As

Asset Retirement Obligations Asset Retirement Obligations (Notes)	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	(9) Asset Retirement Obligations Liabilities for legal obligations associated with the retirement obligations of tangible long-lived assets are initially recorded at fair value in the period in which they are incurred. When a liability is initially recorded, the carrying amount of the related long-lived asset is increased. The liability is discounted from the expected date of abandonment. Over time, accretion of the liability is recognized each period, and the capitalized cost is depreciated on a unit-of-production basis as part of depreciation, depletion, and amortization expense for our oil and gas properties. Upon settlement of the liability, the Company either settles the obligation for its recorded amount or incurs a gain or loss upon settlement which is included in the “Property and Equipment” balance on our accompanying condensed consolidated balance sheets. This guidance requires us to record a liability for the fair value of our dismantlement and abandonment costs, excluding salvage values. Upon the Company's emergence from bankruptcy on April 22, 2016, as discussed in Note 1A, the Company applied fresh start accounting. This included adjusting the Asset Retirement Obligations based on the estimated fair values at April 22, 2016. The following provides a roll-forward of our asset retirement obligations (in thousands): 2016 Asset Retirement Obligations recorded as of January 1 (Predecessor) $ 63,555 Accretion expense 1,610 Liabilities incurred for new wells and facilities construction 1 Reductions due to sold wells and facilities (6,545 ) Reductions due to plugged wells and facilities (85 ) Revisions in estimates 488 Asset Retirement Obligations as of April 22 (Predecessor) $ 59,024 Fair value fresh start adjustment $ 5,216 Asset Retirement Obligations as of April 22 (Successor) $ 64,240 Accretion expense 832 Liabilities incurred for new wells and facilities construction 15 Reductions due to sold wells and facilities (8,123 ) Reductions due to plugged wells and facilities (857 ) Revisions in estimates (2 ) Asset Retirement Obligations as of June 30 (Successor) $ 56,105 At June 30, 2016 and December 31, 2015 , approximately $5.1 million and $7.2 million of our asset retirement obligations were classified as a current liability in “Accounts payable and accrued liabilities” on the accompanying condensed consolidated balance sheets.

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(10) Commitments and Contingencies In the ordinary course of business, we are party to various legal actions, which arise primarily from our activities as operator of oil and natural gas wells. In management's opinion, the outcome of any such currently pending legal actions will not have a material adverse effect on our financial position or results of operations. Through April 22, 2016 , most of our pending legal proceedings were stayed by virtue of our voluntary petition filed on December 31, 2015 seeking relief under Chapter 11 of the Bankruptcy Code. During the second quarter of 2016, in connection with the bankruptcy, the Company rejected the lease for office space in Houston, Texas and entered into an agreement on May 15, 2016 to reduce our existing Houston office space. The agreement is on a month-to-month basis through December 31, 2016 and the minimum annual obligation under non-cancelable lease commitments is $2.1 million for 2016. In connection with the bankruptcy, our previous gas transportation and processing minimum obligations were adjusted and are now $7.7 million for 2016, $9.3 million for 2017, $8.7 million for 2018, $8.3 million for 2019, $7.9 million for 2020 and $41.9 million in the aggregate.

Emergence from Voluntary Reor20

Emergence from Voluntary Reorganization under Chapter 11 Proceedings Emergence from Voluntary Reorganization under Chapter 11 Proceedings (Policies)	6 Months Ended
	Jun. 30, 2016
Reorganizations [Abstract]
Chapter 11 Proceedings	(1A) Emergence from Voluntary Reorganization under Chapter 11 Proceedings On December 31, 2015 , Swift Energy Company ("Swift Energy," the "Company" or "we") and eight of its U.S. subsidiaries (the “Chapter 11 Subsidiaries”) filed voluntary petitions seeking relief under Chapter 11 of Title 11 of the U.S. Bankruptcy Code (the "Bankruptcy Code") in the U.S. Bankruptcy Court for the District of Delaware under the caption In re Swift Energy Company, et al (Case No. 15-12670). The Company and the Chapter 11 Subsidiaries received bankruptcy court confirmation of their joint plan of reorganization (the "Plan") on March 31, 2016, and subsequently emerged from bankruptcy on April 22, 2016 (the "Effective Date"). Effect of the Bankruptcy Proceedings. During the bankruptcy proceedings, the Company conducted normal business activities and was authorized to pay and has paid (subject to caps applicable to payments of certain pre-petition obligations) pre-petition employee wages and benefits, pre-petition amounts owed to certain lienholders and critical vendors, pre-petition amounts owed to pipeline owners that transport the Company's production, and funds belonging to third parties, including royalty holders and partners. In addition, subject to certain specific exceptions under the Bankruptcy Code, the Chapter 11 filings automatically stayed most judicial or administrative actions against the Company and efforts by creditors to collect on or otherwise exercise rights or remedies with respect to pre-petition claims. As a result, we did not record interest expense on the Company’s senior notes for the period of January 1, 2016 through April 22, 2016 (as the predecessor). For that period, contractual interest on the senior notes totaled $21.6 million . Plan of Reorganization . Pursuant to the Plan, the significant transactions that occurred upon emergence from bankruptcy were as follows: • the approximately $906 million of indebtedness outstanding on account of the Company’s senior notes, $75.0 million in borrowings under the Company's DIP Credit Agreement (described below) and certain other unsecured claims were exchanged for 88.5% of the post-emergence Company’s common stock; • the lenders under the DIP Credit Agreement (as defined and more fully described below) received an additional backstop fee consisting of 7.5% of the post-emergence Company’s common stock; • the Company’s pre-petition common stock was canceled and the current shareholders received 4% of the post-emergence Company’s common stock and warrants to purchase up to 30% of the reorganized Company's equity. See Note 1B of these condensed consolidated financial statements for more information; • claims of other creditors were paid in full in cash, reinstated or otherwise treated in a manner acceptable to the creditors; • the Company entered into a registration rights agreement to provide customary registration rights to certain holders of the Company’s post-emergence common stock who, together with their affiliates received upon emergence 5% or more of the outstanding common stock of the Company; • the Company sold (effective April 15, 2016) a portion of its interest in its Central Louisiana fields known as Burr Ferry and South Bearhead Creek to Texegy LLC, for net proceeds of approximately $46.9 million including deposits received prior to the closing date; and • the Company's previous credit facility (the "Prior First Lien Credit Facility") was terminated and a new senior secured credit facility (the "New Credit Facility") with an initial $320 million borrowing base was established. For more information refer to Note 5 of these condensed consolidated financial statements. In accordance with the Plan, the post-emergence Company’s new board of directors is made up of seven directors consisting of the Chief Executive Officer of the post-emergence Company (Terry E. Swift), two directors appointed by Strategic Value Partners LLC ("SVP") (Peter Kirchof and David Geenberg), a former holder of the Company’s senior notes, two directors appointed by other former holders of the Company’s senior notes (Gabriel Ellisor and Charles Wampler), one independent director (Michael Duginski) and one vacancy (who will be designated the new non-executive chairman of the Board). In addition, pursuant to the Plan, SVP and the other former holders of the Company’s senior notes were given certain continuing director nomination rights subject to minimum share ownership conditions. DIP Credit Agreement. In connection with the pre-petition negotiations of the restructuring support agreement, certain holders of the Company’s senior notes agreed to provide the Company and the Chapter 11 Subsidiaries a debtor-in-possession credit facility (the “DIP Credit Agreement"). The DIP Credit Agreement provided for a multi-draw term loan of up to $75.0 million , which became available to the Company upon the satisfaction of certain milestones and contingencies. Upon emergence from bankruptcy, the Company had drawn down the entire $75.0 million available. Pursuant to the Plan, the borrowings under the DIP Credit Agreement, at the option of the lenders to the DIP Credit Agreement, converted into the post-emergence Company’s common stock, which was part of the 88.5% of the common stock distributed to the holders of the Company's senior notes and certain unsecured creditors. As such, the $75.0 million borrowed under the DIP Credit Agreement was not required to be repaid in cash and terminated upon the Company’s exit from bankruptcy. For more information refer to Note 5 of the condensed consolidated financial statements. Fresh Start Accounting . Upon the Company’s emergence from Chapter 11 bankruptcy, the Company adopted fresh-start accounting in accordance with the provisions of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 852, "Reorganizations" which resulted in the Company becoming a new entity for financial reporting purposes. See Note 1B of these condensed consolidated financial statements for more information. Financial Statement Classification of Liabilities Subject to Compromise . Our financial statements included amounts classified as liabilities subject to compromise, a majority of which were equitized upon emergence from bankruptcy on April 22, 2016 . See Note 1B of these condensed consolidated financial statements for more information.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation . The accompanying condensed consolidated financial statements include the accounts of Swift Energy and its wholly owned subsidiaries, which are engaged in the exploration, development, acquisition, and operation of oil and gas properties, with a focus on inland waters and onshore oil and natural gas reserves in Louisiana and Texas. Our undivided interests in oil and gas properties are accounted for using the proportionate consolidation method, whereby our proportionate share of each entity’s assets, liabilities, revenues, and expenses are included in the appropriate classifications in the accompanying condensed consolidated financial statements. Intercompany balances and transactions have been eliminated in preparing the accompanying condensed consolidated financial statements.
Subsequent Events	Subsequent Events . We have evaluated subsequent events of our condensed consolidated financial statements. On August 8, 2016, the Board of Directors delivered notices to the Company’s Chief Executive Officer and Chief Financial Officer concerning their retirement and termination from employment and all officer positions with the Company following a transition period, which is expected to be over the next several months. The Chief Executive Officer and Chief Financial Officer shall receive severance benefits, which include cash payments, accelerated vesting of their share-based compensation, and other benefits in accordance with their Third Amended and Restated Employment Agreements. The Board also approved that Mr. Swift shall remain on the Board until his departure as Chief Executive Officer. There were no material subsequent events requiring additional disclosure in these financial statements.
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires us to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and the reported amounts of certain revenues and expenses during each reporting period. We believe our estimates and assumptions are reasonable; however, such estimates and assumptions are subject to a number of risks and uncertainties that may cause actual results to differ materially from such estimates. Significant estimates and assumptions underlying these financial statements include: • the estimates of reorganization value, enterprise value and fair value of assets and liabilities upon emergence from bankruptcy and application of fresh start accounting, • the estimated quantities of proved oil and natural gas reserves used to compute depletion of oil and natural gas properties, the related present value of estimated future net cash flows there-from, and the ceiling test impairment calculation, • estimates related to the collectability of accounts receivable and the credit worthiness of our customers, • estimates of the counterparty bank risk related to letters of credit that our customers may have issued on our behalf, • estimates of future costs to develop and produce reserves, • accruals related to oil and gas sales, capital expenditures and lease operating expenses, • estimates of insurance recoveries related to property damage, and the solvency of insurance providers, • estimates in the calculation of share-based compensation expense, • estimates of our ownership in properties prior to final division of interest determination, • the estimated future cost and timing of asset retirement obligations, • estimates made in our income tax calculations, • estimates of the Liabilities subject to compromise versus not subject to compromise, • estimates in the calculation of the fair value of hedging assets and liabilities, and • estimates in the assessment of current litigation claims against the Company. While we are not aware of any material revisions to any of our estimates, there will likely be future revisions to our estimates resulting from matters such as new accounting pronouncements, changes in ownership interests, payouts, joint venture audits, re-allocations by purchasers or pipelines, or other corrections and adjustments common in the oil and gas industry, many of which require retroactive application. These types of adjustments cannot be currently estimated and are expected to be recorded in the period during which the adjustments occur. We are subject to legal proceedings, claims, liabilities and environmental matters that arise in the ordinary course of business. We accrue for losses when such losses are considered probable and the amounts can be reasonably estimated.
Property and Equipment	Property and Equipment. We follow the “full-cost” method of accounting for oil and natural gas property and equipment costs. Under this method of accounting, all productive and nonproductive costs incurred in the exploration, development, and acquisition of oil and natural gas reserves are capitalized. Such costs may be incurred both prior to and after the acquisition of a property and include lease acquisitions, geological and geophysical services, drilling, completion, and equipment. Internal costs incurred that are directly identified with exploration, development, and acquisition activities undertaken by us for our own account, and which are not related to production, general corporate overhead, or similar activities, are also capitalized. For the period of April 1, 2016 through April 22, 2016 (predecessor), the period of April 23, 2016 through June 30, 2016 (successor) and the three months ended June 30, 2015 (predecessor) , such internal costs capitalized totaled $0.5 million , $1.5 million , and $3.3 million , respectively. For the period of January 1, 2016 through April 22, 2016 (predecessor) and the six months ended June 30, 2015 (predecessor) , such internal capitalized costs totaled $2.9 million and $7.0 million , respectively. Interest costs are also capitalized to unproved oil and natural gas properties (refer to Note 5 of these condensed consolidated financial statements for further discussion on capitalized interest costs). The “Property and Equipment” balances on the accompanying condensed consolidated balance sheets are summarized for presentation purposes. The following is a detailed breakout of our “Property and Equipment” balances (in thousands): Successor Predecessor Property and Equipment Proved oil and gas properties $ 510,819 $ 5,972,666 Unproved oil and gas properties 47,603 18,839 Furniture, fixtures, and other equipment 3,701 44,252 Less – Accumulated depreciation, depletion, amortization & impairment (146,830 ) (5,577,854 ) Property and Equipment, Net $ 415,293 $ 457,903 No gains or losses are recognized upon the sale or disposition of oil and natural gas properties, except in transactions involving a significant amount of reserves or where the proceeds from the sale of oil and natural gas properties would significantly alter the relationship between capitalized costs and proved reserves of oil and natural gas attributable to a cost center. Internal costs associated with selling properties are expensed as incurred. We compute the provision for depreciation, depletion, and amortization (“DD&A”) of oil and natural gas properties using the unit-of-production method. Under this method, we compute the provision by multiplying the total unamortized costs of oil and gas properties-including future development costs, gas processing facilities, and both capitalized asset retirement obligations and undiscounted abandonment costs of wells to be drilled, net of salvage values, but excluding costs of unproved properties-by an overall rate determined by dividing the physical units of oil and natural gas produced (which excludes natural gas consumed in operations) during the period by the total estimated units of proved oil and natural gas reserves (which excludes natural gas consumed in operations) at the beginning of the period. Future development costs are estimated on a property-by-property basis based on current economic conditions and are amortized to expense as our capitalized oil and gas property costs are amortized. This calculation is done on a country-by-country basis and the period over which we will amortize these properties is dependent on our production from these properties in future years. Furniture, fixtures, and other equipment are recorded at cost and are depreciated by the straight-line method at rates based on the estimated useful lives of the property, which range between two and 20 years. Repairs and maintenance are charged to expense as incurred. Geological and geophysical (“G&G”) costs incurred on developed properties are recorded in “Proved properties” and therefore subject to amortization. G&G costs incurred that are directly associated with specific unproved properties are capitalized in “Unproved properties” and evaluated as part of the total capitalized costs associated with a prospect. The cost of unproved properties not being amortized is assessed quarterly, on a property-by-property basis, to determine whether such properties have been impaired. In determining whether such costs should be impaired, we evaluate current drilling results, lease expiration dates, current oil and gas industry conditions, international economic conditions, capital availability, and available geological and geophysical information. Any impairment assessed is added to the cost of proved properties being amortized.
Full-Cost Ceiling Test	Full-Cost Ceiling Test . At the end of each quarterly reporting period, the unamortized cost of oil and natural gas properties (including natural gas processing facilities, capitalized asset retirement obligations, net of related salvage values and deferred income taxes) is limited to the sum of the estimated future net revenues from proved properties (excluding cash outflows from recognized asset retirement obligations, including future development and abandonment costs of wells to be drilled, using the preceding 12-months’ average price based on closing prices on the first day of each month, adjusted for price differentials, discounted at 10% , and the lower of cost or fair value of unproved properties) adjusted for related income tax effects (“Ceiling Test”). The calculations of the Ceiling Test and provision for DD&A are based on estimates of proved reserves. There are numerous uncertainties inherent in estimating quantities of proved reserves and in projecting the future rates of production, timing, and plan of development. The accuracy of any reserves estimate is a function of the quality of available data and of engineering and geological interpretation and judgment. Results of drilling, testing, and production subsequent to the date of the estimate may justify revision of such estimates. Accordingly, reserves estimates are often different from the quantities of oil and natural gas that are ultimately recovered.
Revenue Recognition	Revenue Recognition . Oil and gas revenues are recognized when production is sold to a purchaser at a fixed or determinable price, when delivery has occurred and title has transferred, and if collectability of the revenue is probable. The Company uses the entitlement method of accounting in which we recognize our ownership interest in production as revenue. If our sales exceed our ownership share of production, the natural gas balancing payables are reported in “Accounts payable and accrued liabilities” on the accompanying condensed consolidated balance sheets. Natural gas balancing receivables are reported in “Other current assets” on the accompanying condensed consolidated balance sheets when our ownership share of production exceeds sales. As of June 30, 2016 and December 31, 2015 , we did not have any material natural gas imbalances.
Accounts Receivable	Accounts Receivable. We assess the collectability of accounts receivable, and based on our judgment, we accrue a reserve when we believe a receivable may not be collected. At June 30, 2016 and December 31, 2015 , we had an allowance for doubtful accounts of approximately $0.3 million and $0.1 million , respectively. The allowance for doubtful accounts has been deducted from the total “Accounts receivable” balance on the accompanying condensed consolidated balance sheets.
Supervision Fees	Supervision Fees. Consistent with industry practice, we charge a supervision fee to the wells we operate, including our wells, in which we own up to a 100% working interest. Supervision fees are recorded as a reduction to “General and administrative, net”, on the accompanying condensed consolidated statements of operations. Our supervision fees are allocated to each well based on general and administrative costs incurred for well maintenance and support.
Other Current Assets	Other Current Assets. Included in "Other current assets" on the accompanying condensed consolidated balance sheets are inventories which consist primarily of tubulars and other equipment and supplies that we expect to place in service in production operations.
Income Taxes	Income Taxes. Deferred taxes are determined based on the estimated future tax effects of differences between the financial statement and tax basis of assets and liabilities, given the provisions of the enacted tax laws.
Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities . The “Accounts payable and accrued liabilities” balances on the accompanying condensed consolidated balance sheets are summarized below (in thousands):
Cash and Cash Equivalents	Cash and Cash Equivalents. We consider all highly liquid instruments with an initial maturity of three months or less to be cash equivalents. These amounts do not include cash balances that are contractually restricted.
Treasury Stock	Treasury Stock. Our treasury stock repurchases are reported at cost and are included “Treasury stock held, at cost" on the accompanying condensed consolidated balance sheets. All treasury stock was canceled upon emergence from bankruptcy and no new treasury stock existed at June 30, 2016.
New Accounting Pronouncements	New Accounting Pronouncements. In May 2014, the FASB issued ASU 2014-09, providing a comprehensive revenue recognition standard for contracts with customers that supersedes current revenue recognition guidance. The guidance requires entities to recognize revenue using the following five-step model: identify the contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue as the entity satisfies each performance obligation. Adoption of this standard could result in retrospective application, either in the form of recasting all prior periods presented or a cumulative adjustment to equity in the period of adoption. In August 2015, the FASB issued ASU 2015-14 which defers the effective date of previously issued ASU 2014-09 by one year for both public and private companies. The guidance is effective for annual and interim reporting periods beginning after December 15, 2017. We are currently reviewing the new requirements to determine the impact of this guidance on our financial statements. In August 27, 2014, the FASB issued ASU 2014-15, which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if “conditions or events raise substantial doubt about the entity’s ability to continue as a going concern.” The guidance applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. In November 2015, the FASB issued ASU 2015-17, which requires companies to classify all deferred tax assets and liabilities as non-current on the balance sheet instead of separating deferred taxes into current and non-current amounts. The guidance is effective for fiscal years beginning after December 15, 2016, including interim periods thereafter, with early adoption permitted and either with prospective or retrospective application permitted. This standard was adopted prospectively as of the bankruptcy emergence date April 22, 2016 and therefore prior years are no longer comparable. This standard had no immediate impact due to the full valuation allowance. In February 2016, the FASB issued ASU 2016-02, which requires lessees to record most leases on the balance sheet. Under the new guidance, lease classification as either a finance lease or an operating lease will determine how lease-related revenue and expense are recognized. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently reviewing these new requirements to determine the impact of this guidance on our financial statements. In March 2016, the FASB issued ASU 2016-09, which simplifies several aspects of the accounting for employee share based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years, with early adoption permitted. This standard was adopted as of the bankruptcy emergence date April 22, 2016 and had no immediate impact due to the cancellation of shares upon emergence.

Share-Based Compensation Share-

Share-Based Compensation Share-Based Compensation (Policies)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation, Option and Incentive Plans Policy	Share-Based Compensation Emergence from Voluntary Reorganization Upon the Company's emergence from bankruptcy on April 22, 2016, as discussed in Note 1A, the Company’s common stock was canceled and new common stock was issued. The Company's previous share-based compensation awards were either vested or canceled upon the Company's emergence from bankruptcy. Share-Based Compensation Plans Upon the Company's emergence from bankruptcy on April 22, 2016, as discussed in Note 1A, the Company's previous share-based compensation plans were canceled and the new Swift Energy Company 2016 Equity Incentive Plan was approved in accordance with the joint plan of reorganization. Under the previous share-based compensation plan the outstanding restricted stock awards for most employees vested under on an accelerated basis while awards issued to certain officers of the Company and the Board of Directors were canceled. For awards granted after emergence from bankruptcy, the Company does not estimate the forfeiture rate during the initial calculation of compensation cost but rather has elected to account for forfeitures in compensation cost when they occur. For the predecessor periods the Company had estimated the forfeiture rate for share-based compensation during the initial calculation of compensation cost. The Company computes a deferred tax benefit for restricted stock and stock options expected to generate future tax deductions by applying its effective tax rate to the expense recorded. For restricted stock the Company's actual tax deduction is based on the value of the shares at the time of vesting.

Earnings Per Share Earnings Per

Earnings Per Share Earnings Per Share (Policies)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share, Policy	Earnings Per Share Upon the Company's emergence from bankruptcy on April 22, 2016, as discussed in Note 1A, the Company’s then outstanding common stock was canceled and new common stock and Warrants were issued. Basic earnings per share (“Basic EPS”) has been computed using the weighted average number of common shares outstanding during each period. Diluted earnings per share ("Diluted EPS") assumes, as of the beginning of the period, exercise of stock options and restricted stock grants using the treasury stock method. Diluted EPS also assumes conversion of performance-based restricted stock units to common shares based on the number of shares (if any) that would be issuable, according to predetermined performance and market goals, if the end of the reporting period was the end of the performance period. As we recognized a net loss for the period of April 23, 2016 through June 30, 2016 (successor) and the three and six months ended June 30, 2015 (predecessor), the unvested share-based payments and stock options were not recognized in Diluted EPS calculations as they would be antidilutive. Certain of our stock options and restricted stock grants that would potentially dilute Basic EPS in the future were also antidilutive for the period of January 1, 2016 through April 22, 2016 (predecessor) , and are discussed below.

Debt Debt (Policies)

Debt Debt (Policies)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt Issuance Costs, Policy	Debt Issuance Costs . Our policy is to capitalize legal fees, accounting fees, underwriting fees, printing costs, and other direct expenses associated with our senior notes, amortizing those costs on an effective interest basis over the term of the senior notes, while issuance costs related to a line of credit arrangement are capitalized and then amortized ratably over the term of the line of credit arrangement, regardless of whether there are any outstanding borrowings.

Price-Risk Management Price-R25

Price-Risk Management Price-Risk Management (Policies)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Price-Risk Management Activities, Policy	Price-Risk Management Activities Derivatives are recorded on the balance sheet at fair value with changes in fair value recognized in earnings. The changes in the fair value of our derivatives are recognized in "Price-risk management and other, net" on the accompanying condensed consolidated statements of operations. We have a price-risk management policy to use derivative instruments to protect against declines in oil and natural gas prices, mainly through the purchase of price swaps

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Disclosures (Policies)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Policy	Fair Value Measurements Fair Value on a Recurring Basis . Our financial instruments consist of cash and cash equivalents, restricted cash, accounts receivable, accounts payable, bank borrowings, and senior notes. The carrying amounts of cash and cash equivalents, restricted cash, accounts receivable, and accounts payable approximate fair value due to the highly liquid or short-term nature of these instruments. In connection with fresh start accounting, the Company incurred various other non-recurring fair value adjustments to our oil and gas properties, asset retirement obligation, other long-term liabilities and stockholder's equity of approximately $227 million as of April 22, 2016 .

Asset Retirement Obligations 27

Asset Retirement Obligations Asset Retirement Obligations (Policies)	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations, Policy	Asset Retirement Obligations Liabilities for legal obligations associated with the retirement obligations of tangible long-lived assets are initially recorded at fair value in the period in which they are incurred. When a liability is initially recorded, the carrying amount of the related long-lived asset is increased. The liability is discounted from the expected date of abandonment. Over time, accretion of the liability is recognized each period, and the capitalized cost is depreciated on a unit-of-production basis as part of depreciation, depletion, and amortization expense for our oil and gas properties. Upon settlement of the liability, the Company either settles the obligation for its recorded amount or incurs a gain or loss upon settlement which is included in the “Property and Equipment” balance on our accompanying condensed consolidated balance sheets. This guidance requires us to record a liability for the fair value of our dismantlement and abandonment costs, excluding salvage values.

Commitments and Contingencies28

Commitments and Contingencies Commitments and Contingencies (Policies)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies, Policy	Commitments and Contingencies In the ordinary course of business, we are party to various legal actions, which arise primarily from our activities as operator of oil and natural gas wells. In management's opinion, the outcome of any such currently pending legal actions will not have a material adverse effect on our financial position or results of operations. Through April 22, 2016 , most of our pending legal proceedings were stayed by virtue of our voluntary petition filed on December 31, 2015 seeking relief under Chapter 11 of the Bankruptcy Code.

Fresh Start Accounting (Tables)

Fresh Start Accounting (Tables)	6 Months Ended
	Jun. 30, 2016
Reorganizations [Abstract]
Schedule of Fresh-Start Adjustments	The following table reconciles the enterprise value to the estimated fair value of the Successor Company's common stock as of the Effective Date (in thousands): April 22, 2016 Enterprise Value $ 473,660 Plus: Cash and cash equivalents 8,739 Less: Fair value of debt (253,000 ) Less: Fair value of warrants (14,967 ) Fair value of Successor common stock $ 214,432 Shares outstanding at April 22, 2016 10,000 Per share value $ 21.44 The following table summarizes reorganization items (in thousands): Successor Predecessor Period from April 23, 2016 through June 30, 2016 Period from January 1, 2016 through April 22, 2016 Gain on settlement of liabilities subject to compromise $ — $ (863,938 ) Fair value of equity issued in excess of DIP principal — 67,329 Fresh start adjustments — (222,512 ) Reorganization legal and professional fees and expenses 342 25,573 Fair value of equity issued to DIP lenders for backstop fee — 16,082 Other reorganization items (66 ) 21,324 (Gain) Loss on Reorganization items, net $ 276 $ (956,142 ) The following table summarizes the fair value adjustment on our oil and gas properties and accumulated depletion, depreciation and amortization (in thousands): Predecessor Company Fresh Start Adjustments Successor Company Oil and Gas Properties Proved properties $ 5,951,016 $ (5,441,655 ) $ 509,361 Unproved properties 12,057 33,448 45,505 Total Oil and Gas Properties 5,963,073 (5,408,207 ) 554,866 Less - Accumulated depletion and impairments (5,638,741 ) 5,638,741 — Net Oil and Gas Properties 324,332 230,534 554,866 Furniture, Fixtures, and other equipment 44,252 (40,551 ) 3,701 Less - Accumulated depreciation (37,510 ) 37,510 — Net Furniture, Fixtures and other equipment $ 6,742 $ (3,041 ) $ 3,701 Net Oil and Gas Properties, Furniture and fixtures and accumulated depreciation $ 331,074 $ 227,493 $ 558,567 Reflects the cumulative impact of the reorganization adjustments discussed above (in thousands): Gain on settlement of Liabilities subject to compromise $ 863,938 Fair value of equity issued in excess of DIP principal (67,329 ) Fair value of equity and warrants issued to Predecessor stockholders (23,544 ) Fair value of equity issued to DIP lenders for backstop fee (16,082 ) Other reorganization adjustments (1,800 ) Cancellation of Predecessor Company equity 775,429 Net impact to accumulated deficit $ 1,530,612 Liabilities subject to compromise were settled as follows in accordance with the Plan (in thousands): 7.125% senior notes due 2017 $ 250,000 8.875% senior notes due 2020 225,000 7.875% senior notes due 2022 400,000 Accrued interest 30,043 Accounts payable and accrued liabilities 1,713 Other long-term liabilities 4,625 Liabilities subject to compromise of the Predecessor Company (LSTC) 911,381 Fair value of equity issued to former holders of the senior notes of the Predecessor (47,443 ) Gain on settlement of Liabilities subject to compromise $ 863,938 The following table reconciles the enterprise value to the estimated reorganization value as of the Effective Date (in thousands): April 22, 2016 Enterprise Value $ 473,660 Plus: Cash and cash equivalents 8,739 Plus: Other working capital liabilities 73,318 Plus: Other long-term liabilities 58,992 Reorganization value of Successor assets $ 614,709 The following table reflects the reorganization and application of ASC 852 on our condensed consolidated balance sheet as of April 22, 2016 (in thousands): Predecessor Company Reorganization Adjustments Fresh Start Adjustments Successor Company ASSETS Current Assets: Cash and cash equivalents $ 57,599 $ (48,860 ) (1) $ — $ 8,739 Accounts receivable 34,278 (597 ) (2) — 33,681 Other current assets 3,503 — — 3,503 Total current assets 95,380 (49,457 ) — 45,923 Property and equipment 6,007,326 — (5,448,759 ) (12) 558,567 Less - accumulated depreciation, depletion and amortization (5,676,252 ) — 5,676,252 (12) — Property and equipment, net 331,074 — 227,493 558,567 Other Long-Term Assets 4,629 6,388 (3) (798 ) (13) 10,219 Total Assets $ 431,083 $ (43,069 ) $ 226,695 $ 614,709 Predecessor Company Reorganization Adjustments Fresh Start Adjustments Successor Company LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable and accrued liabilities $ 64,324 $ (4,666 ) (4) $ (885 ) (14 ) $ 58,773 Accrued capital costs 5,410 — — 5,410 Accrued interest 768 (104 ) (5) — 664 Undistributed oil and gas revenues 8,471 — — 8,471 Current portion of debt 364,500 (364,500 ) (6) — — Total current liabilities 443,473 (369,270 ) (885 ) 73,318 Long-Term Debt — 253,000 (7) — 253,000 Asset retirement obligation 51,800 — 6,101 (14 ) 57,901 Other long-term liabilities 2,124 — (1,033 ) (15 ) 1,091 Liabilities subject to compromise 911,381 (911,381 ) (8) — — Total Liabilities 1,408,778 (1,027,651 ) 4,183 385,310 Stockholders' Equity: Preferred stock — — — Common stock (Predecessor) 450 (450 ) (9) — — Common stock (Successor) — 100 (10) — 100 Additional paid-in capital (Predecessor) 777,475 (777,475 ) (9) — — Additional paid-in capital (Successor) — 229,299 (10) — 229,299 Treasury stock held at cost (2,496 ) 2,496 (9) — — Retained earnings (accumulated deficit) (1,753,124 ) 1,530,612 (11) 222,512 (16 ) — Total Stockholders' Equity (Deficit) (977,695 ) 984,582 222,512 229,399 Total Liabilities and Stockholders' Equity $ 431,083 $ (43,069 ) $ 226,695 $ 614,709 Reflects the net cash payments recorded as of the Effective Date from implementation of the Plan (in thousands): Sources: Net proceeds from New Credit Facility 253,000 Total Sources $ 253,000 Uses: Repayment of Prior First Lien Credit Facility 289,500 Debt issuance costs 6,482 Predecessor accounts payable paid upon emergence 5,878 Total Uses $ 301,860 Net Uses $ (48,860 )

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Property and Equipment	The “Property and Equipment” balances on the accompanying condensed consolidated balance sheets are summarized for presentation purposes. The following is a detailed breakout of our “Property and Equipment” balances (in thousands): Successor Predecessor Property and Equipment Proved oil and gas properties $ 510,819 $ 5,972,666 Unproved oil and gas properties 47,603 18,839 Furniture, fixtures, and other equipment 3,701 44,252 Less – Accumulated depreciation, depletion, amortization & impairment (146,830 ) (5,577,854 ) Property and Equipment, Net $ 415,293 $ 457,903
Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities . The “Accounts payable and accrued liabilities” balances on the accompanying condensed consolidated balance sheets are summarized below (in thousands): Successor Predecessor Trade accounts payable (1) $ 13,519 $ — Accrued operating expenses (1) 3,441 — Accrued compensation costs (1) 2,919 — Asset retirement obligation – current portion 5,058 7,165 Accrued taxes (1) 4,028 — Accrued price risk liabilities (1) 8,770 — Accrued corporate and legal fees (1) 9,922 — Other payables (1)(2) 1,039 498 Total accounts payable and accrued liabilities $ 48,696 $ 7,663 (1) Classified as Liabilities subject to compromise as of December 31, 2015 . Total Liabilities subject to compromise were $984.4 million as of December 31, 2015 . (2) Total balance at December 31, 2015 was $5.3 million , of which $4.8 million was classified as Liabilities subject to compromise with the remaining portion classified as "Other payables".

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]	Stock Option Valuation Assumptions Expected Dividend — Expected volatility 69.3 % Risk-free interest rate 1.42 % Expected life of stock option awards (in years) 5 Weighted average grant-date fair value $ 13.42
Restricted stock activity	The following table represents restricted stock award activity for the period of April 23, 2016 through June 30, 2016 (successor) : Shares Grant Price Restricted shares outstanding, beginning of period (successor) — $ — Restricted shares granted 254,905 $ 23.25 Restricted shares canceled — $ — Restricted shares vested — — Restricted shares outstanding, end of period (successor) 254,905 $ 23.25

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Reconciliation of the numerators and denominators used in the calculation of Basic and Diluted EPS	The following is a reconciliation of the numerators and denominators used in the calculation of Basic and Diluted EPS for the periods indicated below (in thousands, except per share amounts): Successor from April 23, 2016 through June 30, 2016 Predecessor from April 1, 2016 through April 22, 2016 Predecessor Three Months Ended June 30, 2015 Net Income (Loss) Shares Per Share Net Income (Loss) Shares Per Share Amount Net Income (Loss) Shares Per Share Amount Basic EPS: Net Income (Loss) and Share Amounts $ (149,601 ) 10,000 $ (14.96 ) $ 959,913 44,754 $ 21.45 $ (292,867 ) 44,516 $ (6.58 ) Dilutive Securities: Restricted Stock Awards — 894 — Restricted Stock Units — — — Diluted EPS: Net Income (Loss) and Assumed Share Conversions $ (149,601 ) 10,000 $ (14.96 ) $ 959,913 45,648 $ 21.03 $ (292,867 ) 44,516 $ (6.58 ) Predecessor from January 1, 2016 through April 22, 2016 Predecessor Six Months Ended June 30, 2015 Net Income (Loss) Shares Per Share Net Income (Loss) Shares Per Share Basic EPS: Net Income (Loss) and Share Amounts $ 851,611 44,692 $ 19.06 $ (769,944 ) 44,374 $ (17.35 ) Dilutive Securities: Restricted Stock Awards 1,005 — Restricted Stock Units — — Diluted EPS: Net Income (Loss) and Assumed Share Conversions $ 851,611 45,697 $ 18.64 $ (769,944 ) 44,374 $ (17.35 )

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Long-term debt	Our debt balances as of June 30, 2016 and December 31, 2015 , were as follows (in thousands): Successor Predecessor 7.125% senior notes due 2017 (1) $ — $ — 8.875% senior notes due 2020 (1) — — 7.875% senior notes due 2022 (1) — — Bank Borrowings 254,000 324,900 Total Debt $ 254,000 $ 324,900 Less: Current portion of long-term debt (2) $ — $ (324,900 ) Long-Term Debt $ 254,000 $ — (1) Classified as Liabilities subject to compromise as of December 31, 2015. (2) As a result of our Chapter 11 filing, we classified our Prior First Lien Credit Agreement borrowings and DIP Credit Agreement borrowings as current as of December 31, 2015.

Price-Risk Management Price-R34

Price-Risk Management Price-Risk Management (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments [Table Text Block]	Oil Derivative Swaps (NYMEX WTI Settlements) Total Volumes (Bbls) Minimum Price Maximum Price 2016 Contracts 3Q16 172,497 $ 46.00 $ 49.48 4Q16 155,997 $ 46.90 $ 50.36 2017 Contracts 1Q17 106,245 $ 47.25 $ 50.55 2Q17 97,401 $ 47.25 $ 50.85 3Q17 90,000 $ 47.25 $ 51.02 4Q17 84,798 $ 47.25 $ 51.30 Natural Gas Derivative Swaps (NYMEX Henry Hub Settlements) Total Volumes Minimum Price Maximum Price 2016 Contracts 3Q16 3,980,002 $ 2.30 $ 2.80 4Q16 5,250,003 $ 2.67 $ 2.80 2017 Contracts 1Q17 3,975,000 $ 2.77 $ 3.09 2Q17 3,625,005 $ 2.77 $ 2.85 3Q17 3,339,999 $ 2.77 $ 2.91 4Q17 3,125,001 $ 2.77 $ 3.03 Natural Gas Basis Derivative Swap East Texas Houston Ship Channel Settlements) Total Volumes Minimum Price Maximum Price 2016 Contracts 3Q16 3,979,902 $ (0.05 ) $ (0.02 ) 4Q16 5,250,003 $ (0.08 ) $ (0.05 ) 2017 Contracts 1Q17 3,577,500 $ (0.10 ) $ (0.05 ) 2Q17 3,262,506 $ (0.05 ) $ (0.02 ) 3Q17 3,005,001 $ (0.05 ) $ (0.01 ) 4Q17 2,812,503 $ (0.05 ) $ (0.04 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair value of senior notes	Based upon quoted market prices as of December 31, 2015 , the fair value and carrying value of our senior notes was as follows (in millions): Predecessor Fair Value Carrying Value 7.125% senior notes due 2017 $ 23.0 $ 250.0 8.875% senior notes due 2020 (1) $ 21.4 $ 225.0 7.875% senior notes due 2022 (1) $ 34.5 $ 400.0 (1) Includes write-off of discount associated with the 2020 notes and premium associated with the 2022 notes due to the Company's bankruptcy proceedings.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The fair value hierarchy has three levels based on the reliability of the inputs used to determine the fair value (in millions): Fair Value Measurements at Total Quoted Prices in Significant Other Significant June 30, 2016 Assets Natural Gas Basis Derivatives $ 0.2 $ — $ 0.2 $ — Liabilities Natural Gas Derivatives 7.5 — 7.5 — Natural Gas Basis Derivatives 0.2 — 0.2 — Oil Derivatives $ 2.0 $ — $ 2.0 $ —

Asset Retirement Obligations 36

Asset Retirement Obligations Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Roll-forward of our asset retirement obligations	The following provides a roll-forward of our asset retirement obligations (in thousands): 2016 Asset Retirement Obligations recorded as of January 1 (Predecessor) $ 63,555 Accretion expense 1,610 Liabilities incurred for new wells and facilities construction 1 Reductions due to sold wells and facilities (6,545 ) Reductions due to plugged wells and facilities (85 ) Revisions in estimates 488 Asset Retirement Obligations as of April 22 (Predecessor) $ 59,024 Fair value fresh start adjustment $ 5,216 Asset Retirement Obligations as of April 22 (Successor) $ 64,240 Accretion expense 832 Liabilities incurred for new wells and facilities construction 15 Reductions due to sold wells and facilities (8,123 ) Reductions due to plugged wells and facilities (857 ) Revisions in estimates (2 ) Asset Retirement Obligations as of June 30 (Successor) $ 56,105

Emergence from Voluntary Reor37

Emergence from Voluntary Reorganization under Chapter 11 Proceedings Emergence from Voluntary Reorganization under Chapter 11 Proceedings (Details) - USD ($) $ in Thousands	Apr. 15, 2016	Apr. 22, 2016	Apr. 22, 2016
Plan of Reorganization [Abstract]
Debt and Accrued interest		$ 905,629	$ 905,629
Debtor-in-Possession Financing, Amount Arranged		$ 75,000	$ 75,000
Plan of Reogranization, percentage of common stock lenders to receive net of backstop fee		88.50%	88.50%
Plan of Reorganization, backstop fee		7.50%	7.50%
Plan of Reorganization, Percentage of Common Stock existing equity holders to retain		4.00%	4.00%
Plan or Reorganization, warrants existing equity holders		30.00%	30.00%
Plan of Reorganization, Percentage of Common Stock Registration Rights Holder to receive		5.00%	5.00%
Net Proceeds from Texegy Deal	$ 46,900
Line of Credit [Member] | New Credit Facility [Member]
Plan of Reorganization [Abstract]
Line of Credit Facility, Current Borrowing Capacity		$ 320,000	$ 320,000
Predecessor [Member]
Plan of Reorganization [Abstract]
Contractual Interest Expense on Prepetition Liabilities Not Recognized in Statement of Operations		$ 4,200	$ 21,600

Fresh Start Accounting - Narrat

Fresh Start Accounting - Narrative (Details) $ / shares in Units, $ in Thousands	Apr. 22, 2016USD ($)$ / sharesshares
Fresh-Start Adjustment [Line Items]
Enterprise Value	$ 473,660
Discount Rate on Risk Adjusted After Tax Cash Flows	0.12
Number of series of warrants issued	2
Warrant issued, percentage of the reorganized Company's equity	15.00%
Number of shares of common stock called by warrant | shares	4,300,000
Warrant, fair value (usd per share) | $ / shares	$ 3.49
Expected dividend rate (percent)	0.00%
Debtor-in-Possession Financing, Amount Arranged	$ 75,000
Value of Equity Issuance for DIP Credit Agreement	$ 142,300
Common shares issued (in shares) | shares	10,000,000
Plan or Reorganization, warrants existing equity holders	30.00%
Value of warrants issued	$ 15,000
Fair Value of Proved Reserves	509,400
Fair Value of Probable Reserves	45,500
Minimum [Member]
Fresh-Start Adjustment [Line Items]
Enterprise Value	460,000
Maximum [Member]
Fresh-Start Adjustment [Line Items]
Enterprise Value	800,000
New Credit Facility [Member]
Fresh-Start Adjustment [Line Items]
Net proceeds from debt issuance	253,000
Payments of debt issuance costs	7,000
Prior First Lean Credit Facility [Member]
Fresh-Start Adjustment [Line Items]
Repayments of debt	$ 289,500
2019 Warrants [Member]
Fresh-Start Adjustment [Line Items]
Number of shares of common stock called by warrant | shares	2,142,857
Exercise price of warrant (usd per share) | $ / shares	$ 80
Warrant, fair value (usd per share) | $ / shares	3.26
Warrant, strike price (usd per share) | $ / shares	$ 80
Expected volatility rate (percent)	70.00%
Risk free interest rate (percent)	1.01%
Expected term	3 years
2020 Warrants [Member]
Fresh-Start Adjustment [Line Items]
Number of shares of common stock called by warrant | shares	2,142,857
Exercise price of warrant (usd per share) | $ / shares	$ 86.18
Warrant, fair value (usd per share) | $ / shares	3.73
Warrant, strike price (usd per share) | $ / shares	$ 86.18
Expected volatility rate (percent)	65.00%
Risk free interest rate (percent)	1.19%
Expected term	4 years
Reorganization Adjustments [Member]
Fresh-Start Adjustment [Line Items]
Impairment of short-term leasehold improvement build-out receivable	$ (600)
Net settlement of predecessor accounts payable	5,200
Reorganization Adjustments [Member] | New Credit Facility [Member]
Fresh-Start Adjustment [Line Items]
Net proceeds from debt issuance	253,000
Payments of debt issuance costs	6,482
Debt issuance costs	6,984
Accounts Payable and Accrued Liabilities [Member] | Reorganization Adjustments [Member] | New Credit Facility [Member]
Fresh-Start Adjustment [Line Items]
Debt issuance costs	$ 500
Former Holders of Senior Notes [Member]
Fresh-Start Adjustment [Line Items]
Per share value | $ / shares	$ 21.44
Holders of General Unsecured and Retiree Committee Unsecured Claims [Member]
Fresh-Start Adjustment [Line Items]
Common shares issued (in shares) | shares	8,850,000
Backstop Parties [Member]
Fresh-Start Adjustment [Line Items]
Common shares issued (in shares) | shares	750,000
Former Shareholders [Member]
Fresh-Start Adjustment [Line Items]
Common shares issued (in shares) | shares	400,000

Fresh Start Accounting - Reconc

Fresh Start Accounting - Reconciliation of the Enterprise Value to the Estimated Fair Value of the Successor Company's Common Stock (Details) $ / shares in Units, shares in Thousands, $ in Thousands	Apr. 22, 2016USD ($)$ / sharesshares
Fresh-Start Adjustment [Line Items]
Enterprise Value	$ 473,660
Plus: Cash and cash equivalents	8,739
Less: Fair value of debt	(253,000)
Less: Fair value of warrants	(14,967)
Fair value of Successor common stock	$ 214,432
Shares outstanding at April 22, 2016 | shares	10,000
Former Holders of Senior Notes [Member]
Fresh-Start Adjustment [Line Items]
Per share value | $ / shares	$ 21.44

Fresh Start Accounting - Reco40

Fresh Start Accounting - Reconciliation of the Enterprise Value to the Estimated Reorganization Value as of the Effective Date (Details) $ in Thousands	Apr. 22, 2016USD ($)
Reorganizations [Abstract]
Enterprise Value	$ 473,660
Plus: Cash and cash equivalents	8,739
Plus: Other working capital liabilities	73,318
Plus: Other long-term liabilities	58,992
Reorganization value of Successor assets	$ 614,709

Fresh Start Accounting - Reorga

Fresh Start Accounting - Reorganization and Application of ASC 852 on Condensed Consolidated Balance Sheet (Details) $ in Thousands	Apr. 22, 2016USD ($)
Preconfirmation, Assets [Abstract]
Cash and cash equivalents	$ 57,599
Accounts receivable	34,278
Other current assets	3,503
Total current assets	95,380
Property and equipment	6,007,326
Less - accumulated depreciation, depletion and amortization	(5,676,252)
Property and equipment, net	331,074
Other Long-Term Assets	4,629
Total Assets	431,083
Postconfirmation, Assets [Abstract]
Cash and cash equivalents	8,739
Accounts receivable	33,681
Other current assets	3,503
Total current assets	45,923
Property and equipment	558,567
Less - accumulated depreciation, depletion and amortization	0
Property and equipment, net	558,567
Other Long-Term Assets	10,219
Total Assets	614,709
Preconfirmation, Liabilities and Stockholders' Equity [Abstract]
Accounts payable and accrued liabilities	64,324
Accrued capital costs	5,410
Accrued interest	768
Undistributed oil and gas revenues	8,471
Current portion of debt	364,500
Total current liabilities	443,473
Long-Term Debt	0
Asset retirement obligation	51,800
Other long-term liabilities	2,124
Liabilities subject to compromise	911,381
Total Liabilities	1,408,778
Common stock (Predecessor)	450
Additional paid-in capital (Predecessor)	777,475
Treasury stock held at cost	(2,496)
Retained earnings (accumulated deficit)	(1,753,124)
Total Stockholders' Equity (Deficit)	(977,695)
Total Liabilities and Stockholders' Equity	431,083
Postconfirmation, Liabilities and Stockholders' Equity [Abstract]
Accounts payable and accrued liabilities	58,773
Accrued capital costs	5,410
Accrued interest	664
Undistributed oil and gas revenues	8,471
Current portion of debt	0
Total current liabilities	73,318
Long-Term Debt	253,000
Asset retirement obligation	57,901
Other long-term liabilities	1,091
Liabilities subject to compromise	0
Total Liabilities	385,310
Common stock (Successor)	100
Additional paid-in capital (Successor)	229,299
Treasury stock held at cost	0
Retained earnings (accumulated deficit)	0
Total Stockholders' Equity (Deficit)	229,399
Total Liabilities and Stockholders' Equity	614,709
Reorganization Adjustments [Member]
Fresh-Start Adjustment, Increase (Decrease), Assets [Abstract]
Cash and cash equivalents	(48,860)
Accounts receivable	(597)
Other current assets	0
Total current assets	(49,457)
Property and equipment	0
Less - accumulated depreciation, depletion and amortization	0
Net Oil and Gas Properties, Furniture and fixtures and accumulated depreciation	0
Other Long-Term Assets	6,388
Total Assets	(43,069)
Fresh-Start Adjustment, Increase (Decrease), Liabilities and Stockholders' Equity [Abstract]
Accounts payable and accrued liabilities	(4,666)
Accrued capital costs	0
Accrued interest	(104)
Undistributed oil and gas revenues	0
Current portion of debt	(364,500)
Total current liabilities	(369,270)
Long-Term Debt	253,000
Asset retirement obligation	0
Other long-term liabilities	0
Liabilities subject to compromise	(911,381)
Total Liabilities	(1,027,651)
Treasury stock held at cost	2,496
Retained earnings (accumulated deficit)	1,530,612
Total Stockholders' Equity (Deficit)	984,582
Total Liabilities and Stockholders' Equity	(43,069)
Fresh Start Adjustments [Member]
Fresh-Start Adjustment, Increase (Decrease), Assets [Abstract]
Cash and cash equivalents	0
Accounts receivable	0
Other current assets	0
Total current assets	0
Property and equipment	(5,448,759)
Less - accumulated depreciation, depletion and amortization	5,676,252
Net Oil and Gas Properties, Furniture and fixtures and accumulated depreciation	227,493
Other Long-Term Assets	(798)
Total Assets	226,695
Fresh-Start Adjustment, Increase (Decrease), Liabilities and Stockholders' Equity [Abstract]
Accounts payable and accrued liabilities	(885)
Accrued capital costs	0
Accrued interest	0
Undistributed oil and gas revenues	0
Current portion of debt	0
Total current liabilities	(885)
Long-Term Debt	0
Asset retirement obligation	6,101
Other long-term liabilities	(1,033)
Liabilities subject to compromise	0
Total Liabilities	4,183
Treasury stock held at cost	0
Retained earnings (accumulated deficit)	222,512
Total Stockholders' Equity (Deficit)	222,512
Total Liabilities and Stockholders' Equity	226,695
Predecessor [Member]
Fresh-Start Adjustment, Increase (Decrease), Assets [Abstract]
Net Oil and Gas Properties, Furniture and fixtures and accumulated depreciation	331,074
Predecessor [Member] | Reorganization Adjustments [Member]
Fresh-Start Adjustment, Increase (Decrease), Liabilities and Stockholders' Equity [Abstract]
Common stock	(450)
Additional paid-in capital	(777,475)
Predecessor [Member] | Fresh Start Adjustments [Member]
Fresh-Start Adjustment, Increase (Decrease), Liabilities and Stockholders' Equity [Abstract]
Common stock	0
Additional paid-in capital	0
Successor [Member]
Fresh-Start Adjustment, Increase (Decrease), Assets [Abstract]
Net Oil and Gas Properties, Furniture and fixtures and accumulated depreciation	558,567
Successor [Member] | Reorganization Adjustments [Member]
Fresh-Start Adjustment, Increase (Decrease), Liabilities and Stockholders' Equity [Abstract]
Common stock	100
Additional paid-in capital	229,299
Successor [Member] | Fresh Start Adjustments [Member]
Fresh-Start Adjustment, Increase (Decrease), Liabilities and Stockholders' Equity [Abstract]
Common stock	0
Additional paid-in capital	$ 0

Fresh Start Accounting - Net Ca

Fresh Start Accounting - Net Cash Payments (Details) $ in Thousands	Apr. 22, 2016USD ($)
Reorganization Adjustments [Member]
Sources:
Net proceeds from New Credit Facility	$ 253,000
Total Sources	253,000
Uses:
Repayment of Prior First Lien Credit Facility	289,500
Predecessor accounts payable paid upon emergence	5,878
Total Uses	301,860
Net Uses	(48,860)
New Credit Facility [Member]
Uses:
Payments of debt issuance costs	7,000
New Credit Facility [Member] | Reorganization Adjustments [Member]
Uses:
Payments of debt issuance costs	$ 6,482

Fresh Start Accounting - Liabil

Fresh Start Accounting - Liabilities Subject to Compromise (Details) - USD ($) $ in Thousands	Apr. 22, 2016	Dec. 31, 2015
Fresh-Start Adjustment [Line Items]
Debt and Accrued interest	$ 905,629
Reorganization Adjustments [Member]
Fresh-Start Adjustment [Line Items]
Debt and Accrued interest	30,043
Accounts payable and accrued liabilities	1,713
Other long-term liabilities	4,625
Liabilities subject to compromise of the Predecessor Company (LSTC)	911,381
Fair value of equity issued to former holders of the senior notes of the Predecessor	(47,443)
Gain on settlement of Liabilities subject to compromise	863,938
Senior Notes [Member] | Senior Notes Due 2017 [Member]
Fresh-Start Adjustment [Line Items]
Debt and Accrued interest		$ 250,000
Senior Notes [Member] | Senior Notes Due 2017 [Member] | Reorganization Adjustments [Member]
Fresh-Start Adjustment [Line Items]
Debt and Accrued interest	250,000
Senior Notes [Member] | Senior Notes Due 2020 [Member]
Fresh-Start Adjustment [Line Items]
Debt and Accrued interest		225,000
Senior Notes [Member] | Senior Notes Due 2020 [Member] | Reorganization Adjustments [Member]
Fresh-Start Adjustment [Line Items]
Debt and Accrued interest	225,000
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Fresh-Start Adjustment [Line Items]
Debt and Accrued interest		$ 400,000
Senior Notes [Member] | Senior Notes Due 2022 [Member] | Reorganization Adjustments [Member]
Fresh-Start Adjustment [Line Items]
Debt and Accrued interest	$ 400,000

Fresh Start Accounting - Cumula

Fresh Start Accounting - Cumulative Impact of the Reorganization Adjustments (Details) - Reorganization Adjustments [Member] $ in Thousands	Apr. 22, 2016USD ($)
Fresh-Start Adjustment [Line Items]
Gain on settlement of Liabilities subject to compromise	$ (863,938)
Fair value of equity issued in excess of DIP principal	(67,329)
Fair value of equity and warrants issued to Predecessor stockholders	(23,544)
Fair value of equity issued to DIP lenders for backstop fee	(16,082)
Other reorganization adjustments	(1,800)
Cancellation of Predecessor Company equity	775,429
Net impact to accumulated deficit	1,530,612
Cancellation of Predecessor Company equity	$ (775,429)

Fresh Start Accounting - Fair V

Fresh Start Accounting - Fair Value Adjustment of Oil and Gas Properties and Accumulated Depletion, Depreciation, and Amortization (Details) $ in Thousands	Apr. 22, 2016USD ($)
Revaluation of Assets [Member]
Oil and Gas Properties
Proved properties	$ (5,441,655)
Unproved properties	33,448
Total Oil and Gas Properties	(5,408,207)
Less - Accumulated depletion and impairments	(5,638,741)
Net Oil and Gas Properties	230,534
Furniture, Fixtures, and other equipment	(40,551)
Less - Accumulated depreciation	(37,510)
Net Furniture, Fixtures and other equipment	(3,041)
Net Oil and Gas Properties, Furniture and fixtures and accumulated depreciation	227,493
Predecessor [Member]
Oil and Gas Properties
Proved properties	5,951,016
Unproved properties	12,057
Total Oil and Gas Properties	5,963,073
Less - Accumulated depletion and impairments	5,638,741
Net Oil and Gas Properties	324,332
Furniture, Fixtures, and other equipment	44,252
Less - Accumulated depreciation	37,510
Net Furniture, Fixtures and other equipment	6,742
Net Oil and Gas Properties, Furniture and fixtures and accumulated depreciation	331,074
Successor [Member]
Oil and Gas Properties
Proved properties	509,361
Unproved properties	45,505
Total Oil and Gas Properties	554,866
Less - Accumulated depletion and impairments	0
Net Oil and Gas Properties	554,866
Furniture, Fixtures, and other equipment	3,701
Less - Accumulated depreciation	0
Net Furniture, Fixtures and other equipment	3,701
Net Oil and Gas Properties, Furniture and fixtures and accumulated depreciation	$ 558,567

Fresh Start Accounting - Reor46

Fresh Start Accounting - Reorganization Items (Details) - USD ($) $ in Thousands	2 Months Ended	4 Months Ended
	Jun. 30, 2016	Apr. 22, 2016
Successor [Member]
Fresh-Start Adjustment [Line Items]
Gain on settlement of liabilities subject to compromise	$ 0
Fair value of equity issued in excess of DIP principal	0
Fresh start adjustments	0
Reorganization legal and professional fees and expenses	342
Fair Value of Equity Issued for Backstop Fee	0
Other reorganization items	(66)
(Gain) Loss on Reorganization items, net	$ 276
Predecessor [Member]
Fresh-Start Adjustment [Line Items]
Gain on settlement of liabilities subject to compromise		$ (863,938)
Fair value of equity issued in excess of DIP principal		67,329
Fresh start adjustments		(222,512)
Reorganization legal and professional fees and expenses		25,573
Fair Value of Equity Issued for Backstop Fee		16,082
Other reorganization items		21,324
(Gain) Loss on Reorganization items, net		$ (956,142)

Summary of Significant Accoun47

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Successor [Member]
Property and Equipment
Proved oil and gas properties	$ 510,819
Unproved oil and gas properties	47,603
Furniture, fixtures, and other equipment	3,701
Less - Accumulated depreciation, depletion, and amortization	(146,830)
Net Furniture, Fixtures and other equipment	415,293
Accounts Payable and Accrued Liabilities
Trade accounts payable	13,519
Accrued operating expenses	3,441
Accrued payroll costs	2,919
Asset retirement obligation - current portion	5,058
Accrued taxes	4,028
Accrued price risk liabilities	8,770
Accrued corporate and legal fees	9,922
Other payables	1,039
Total accounts payable and accrued liabilities	$ 48,696
Predecessor [Member]
Property and Equipment
Proved oil and gas properties		$ 5,972,666
Unproved oil and gas properties		18,839
Furniture, fixtures, and other equipment		44,252
Less - Accumulated depreciation, depletion, and amortization		(5,577,854)
Net Furniture, Fixtures and other equipment		457,903
Accounts Payable and Accrued Liabilities
Trade accounts payable		0
Accrued operating expenses		0
Accrued payroll costs		0
Asset retirement obligation - current portion		7,165
Accrued taxes		0
Accrued price risk liabilities		0
Accrued corporate and legal fees		0
Other payables		498
Total accounts payable and accrued liabilities		$ 7,663

Summary of Significant Accoun48

Summary of Significant Accounting Policies (Details Textual) - USD ($)	1 Months Ended	2 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
	Apr. 22, 2016	Jun. 30, 2016	Jun. 30, 2015	Apr. 22, 2016	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Summary of Significant Accounting Policies
Discount rate for estimated future net revenues from proved properties					10.00%
Allowance for doubtful accounts receivable, current		$ 300,000			$ 300,000		$ 100,000
Accounts receivable, gross		13,400,000			13,400,000		14,900,000
Accounts receivable related to joint interest owners		4,500,000			4,500,000		4,900,000
Severance tax receivable		1,500,000			1,500,000		1,200,000
Other receivables		2,700,000			$ 2,700,000		700,000
Percentage of working interest in wells					100.00%
Inventories carried at cost		400,000			$ 400,000		600,000
Prepaid expenses		3,300,000			3,300,000		4,400,000
Treasury Stock, Value		0			$ 0
Minimum [Member]
Summary of Significant Accounting Policies
Estimated useful lives of property					2 years
Maximum [Member]
Summary of Significant Accounting Policies
Estimated useful lives of property					20 years
Predecessor [Member]
Summary of Significant Accounting Policies
Total capitalized internal costs	$ 500,000		$ 3,300,000	$ 2,900,000		$ 7,000,000
Write-down of oil and gas properties	0		260,504,000	77,732,000		763,073,000
Total amount of supervision fees charged to wells	$ 700,000		$ 2,200,000	$ 2,700,000		$ 4,900,000
Capitalized Costs, Proved Properties							5,972,666,000
Capitalized Costs, unproved property balance							18,839,000
Furniture and Fixtures, Gross							44,252,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment							5,577,854,000
Property, Plant and Equipment, Net							457,903,000
Accounts Payable, Trade, Current							0
Accrued Liabilities, Current							0
Employee-related Liabilities, Current							0
Asset Retirement Obligation, Current							7,165,000
Taxes Payable, Current							0
Accounts Payable, Other, Current							498,000
Total accounts payable and accrued liabilities							7,663,000
Liabilities subject to compromise of the Predecessor Company (LSTC)							984,388,000
Accounts Payable, Other, Current, Before Reclass to Liabilities Subject to Compromise							5,300,000
Accounts Payable, Other, Current, Reclassed to Liabilities Subject to Compromise							4,800,000
Treasury Stock, Value							$ 2,491,000
Successor [Member]
Summary of Significant Accounting Policies
Total capitalized internal costs		1,500,000
Write-down of oil and gas properties		133,496,000
Total amount of supervision fees charged to wells		1,300,000
Capitalized Costs, Proved Properties		510,819,000			$ 510,819,000
Capitalized Costs, unproved property balance		47,603,000			47,603,000
Furniture and Fixtures, Gross		3,701,000			3,701,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment		146,830,000			146,830,000
Property, Plant and Equipment, Net		415,293,000			415,293,000
Accounts Payable, Trade, Current		13,519,000			13,519,000
Accrued Liabilities, Current		3,441,000			3,441,000
Employee-related Liabilities, Current		2,919,000			2,919,000
Asset Retirement Obligation, Current		5,058,000			5,058,000
Taxes Payable, Current		4,028,000			4,028,000
Accounts Payable, Other, Current		1,039,000			1,039,000
Total accounts payable and accrued liabilities		48,696,000			48,696,000
Liabilities subject to compromise of the Predecessor Company (LSTC)		$ 0			$ 0

Share-Based Compensation (Detai

Share-Based Compensation (Details Textual) - USD ($)	1 Months Ended	2 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
	Apr. 22, 2016	Jun. 30, 2016	Jun. 30, 2015	Apr. 22, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 08, 2016
Share-Based Compensation (Details Textual)
Tax shortfall in earnings related to share-based compensation				$ 0
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options							105,811
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price							$ 23.25
Minimum [Member] | Employee Stock Option [Member]
Share-Based Compensation (Details Textual)
Stock Awards Vesting Term					1 year
Maximum Payout [Member] | Employee Stock Option [Member]
Share-Based Compensation (Details Textual)
Stock Awards Vesting Term					3 years
Lease Operating Cost [Member]
Share-Based Compensation (Details Textual)
Stock-based compensation expenses			$ 100,000
Predecessor [Member]
Share-Based Compensation (Details Textual)
Tax shortfall in earnings related to share-based compensation			200,000			$ 1,400,000
Stock-based compensation expenses				886,000		2,153,000
Share-based compensation (capitalized)	$ 100,000		400,000	$ 200,000		700,000
Predecessor [Member] | Restricted Stock [Member]
Restricted stock activity
Restricted shares outstanding, beginning of period, shares		0
Restricted shares outstanding, beginning of period, weighted average price		$ 0
Restricted shares outstanding, end of period, shares	0			0
Restricted shares outstanding, end of period, weighted average price	$ 0			$ 0
Predecessor [Member] | General and Administrative Expense [Member]
Share-Based Compensation (Details Textual)
Stock-based compensation expenses	$ 100,000		1,200,000	$ 900,000		2,000,000
Predecessor [Member] | Lease Operating Cost [Member]
Share-Based Compensation (Details Textual)
Stock-based compensation expenses	$ 0		$ 100,000	$ 100,000		$ 100,000
Successor [Member]
Share-Based Compensation (Details Textual)
Stock-based compensation expenses		$ 191,000
Share-based compensation (capitalized)		0
Successor [Member] | Employee Stock Option [Member]
Stock Option Details
Stock Option Expected Dividend		$ 0
Stock Option Volatility		69.30%
Stock Option Risk Free Interest Rate		1.42%
Stock Option Weighted Average Grant-Date fair value		$ 13.42
Share-Based Compensation (Details Textual)
Stock Awards Vesting Term		5 years
Successor [Member] | Restricted Stock [Member]
Restricted stock activity
Restricted shares granted, shares		254,905
Restricted shares granted, weighted average price		$ 23.25
Restricted shares canceled, shares		0
Restricted shares canceled, weighted average price		$ 0
Restricted shares vested, shares		0
Restricted shares vested, weighted average price		$ 0
Restricted shares outstanding, end of period, shares		254,905			254,905
Restricted shares outstanding, end of period, weighted average price		$ 23.25			$ 23.25
Successor [Member] | General and Administrative Expense [Member]
Share-Based Compensation (Details Textual)
Stock-based compensation expenses		$ 200,000
Successor [Member] | Lease Operating Cost [Member]
Share-Based Compensation (Details Textual)
Stock-based compensation expenses		$ 0

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
	Apr. 22, 2016	Jun. 30, 2016	Jun. 30, 2015	Apr. 22, 2016	Jun. 30, 2015
Predecessor [Member]
Basic EPS:
Net Income (Loss)	$ 959,913		$ (292,867)	$ 851,611	$ (769,944)
Income, share amounts	44,754		44,516	44,692	44,374
Earnings Per Share, Basic	$ 21.45		$ (6.58)	$ 19.06	$ (17.35)
Dilutive Securities:
Dilutive RSA's, Shares	894		0	1,005	0
Dilutive RSU's, Shares	0		0	0	0
Diluted EPS:
Net Income (Loss) Available to Common Stockholders, Diluted	$ 959,913		$ (292,867)	$ 851,611	$ (769,944)
Weighted Average Number of Shares Outstanding, Diluted	45,648		44,516	45,697	44,374
Earnings Per Share, Diluted	$ 21.03		$ (6.58)	$ 18.64	$ (17.35)
Predecessor [Member] | Stock Options [Member]
Earnings Per Share (Textual)
Antidilutive shares excluded from EPS, shares	1,200		1,300	1,300	1,300
Predecessor [Member] | Restricted Stock [Member]
Earnings Per Share (Textual)
Antidilutive shares excluded from EPS, shares	300		700	300	700
Predecessor [Member] | Restricted Stock Units (RSUs) [Member]
Earnings Per Share (Textual)
Antidilutive shares excluded from EPS, shares	800		1,200	800	1,200
Successor [Member]
Basic EPS:
Net Income (Loss)		$ (149,601)
Income, share amounts		10,000
Earnings Per Share, Basic		$ (14.96)
Dilutive Securities:
Dilutive RSA's, Shares		0
Dilutive RSU's, Shares		0
Diluted EPS:
Net Income (Loss) Available to Common Stockholders, Diluted		$ (149,601)
Weighted Average Number of Shares Outstanding, Diluted		10,000
Earnings Per Share, Diluted		$ (14.96)

Debt (Details)

Debt (Details) $ in Thousands	Mar. 31, 2019	Jun. 30, 2016USD ($)	Apr. 22, 2016USD ($)	Apr. 22, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Apr. 22, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)	Oct. 03, 2012USD ($)	Nov. 25, 2009USD ($)	Jun. 01, 2007
Debtor-in-Possession Financing
Plan of Reogranization, percentage of common stock lenders to receive net of backstop fee			88.50%	88.50%			88.50%
Debtor-in-Possession Financing, Amount Arranged			$ 75,000	$ 75,000			$ 75,000
Plan of Reorganization, backstop fee			7.50%	7.50%			7.50%
Bank Borrowings and New Credit Facility
Debt and Accrued interest			$ 905,629	$ 905,629			$ 905,629
DIP Facility [Member]
Debtor-in-Possession Financing
DIP Financing, percentage of applicable margin with LIBOR							12.00%
DIP Financing, percentage of applicable margin with ABR							11.00%
Debtor-in-Possession Financing, Fee on Unused Borrowings			3.00%	3.00%			3.00%
Plan of Reorganization, backstop fee			7.50%	7.50%			7.50%
DIP Financing, fee paid on drawdowns against DIP facility			5.00%	5.00%			5.00%
DIP Financing, net proceeds after drawdown fee			95.00%	95.00%			95.00%
Senior Notes [Member]
Bank Borrowings and New Credit Facility
Interest expense including amortization of debt issuance costs				$ 0		$ 17,700	$ 0	$ 35,400
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Bank Borrowings and New Credit Facility
Debt and Accrued interest									$ 400,000
Senior Notes
Senior notes, issued										$ 400,000
Debt instrument, interest rate, stated percentage										7.875%
Senior Notes [Member] | Senior Notes Due 2020 [Member]
Bank Borrowings and New Credit Facility
Debt and Accrued interest									225,000
Senior Notes
Senior notes, issued											$ 225,000
Debt instrument, interest rate, stated percentage											8.875%
Percentage at which senior notes are issued, of par value											98.389%
Effective Interest Rate On Senior Notes Including Discount											9.125%
Senior Notes [Member] | Senior Notes Due 2017 [Member]
Bank Borrowings and New Credit Facility
Debt and Accrued interest									250,000
Senior Notes
Senior notes, issued											$ 250,000
Debt instrument, interest rate, stated percentage												7.125%
Percentage at which senior notes are issued, of par value												100.00%
Line of Credit [Member]
Bank Borrowings and New Credit Facility
Percentage of applicable margin with federal fund rate							0.50%
Percentage of applicable margin with LIBOR							1.00%
Commitment fee basis points for the credit facility							0.50%
Line of Credit [Member] | Minimum [Member] | Alternative Base Interest Rate [Member]
Bank Borrowings and New Credit Facility
Debt instrument escalating basis spread on base rate							100
Line of Credit [Member] | Minimum [Member] | Eurodollar Interest Rate [Member]
Bank Borrowings and New Credit Facility
Debt Instrument Escalating Rates for Eurodollar Rate Loans							200
Line of Credit [Member] | Maximum [Member] | Alternative Base Interest Rate [Member]
Bank Borrowings and New Credit Facility
Debt instrument escalating basis spread on base rate							200
Line of Credit [Member] | Maximum [Member] | Eurodollar Interest Rate [Member]
Bank Borrowings and New Credit Facility
Debt Instrument Escalating Rates for Eurodollar Rate Loans							300
Line of Credit [Member] | New Credit Facility [Member]
Bank Borrowings and New Credit Facility
Line of Credit Facility, Maximum Borrowing Capacity			$ 500,000	500,000			$ 500,000
Line of Credit Facility, Current Borrowing Capacity			$ 320,000	320,000			320,000
Line of Credit, Required Security Interest on Oil and Gas Properties			95.00%
Line of Credit Facility, Non-Conforming Borrowing Base			$ 70,000
Line of Credit Facility, Conforming Borrowing Base			250,000
Line of Credit Facility, Non-Conforming Borrowing Base, Borrowings Outstanding		$ 4,000			$ 4,000
Line of Credit Facility, Conforming Borrowing Base, Borrowings Outstanding		$ 250,000			250,000
Line of Credit, Covenant, Debt to EBITDA Ratio, Minimum		6.5
Line of Credit, Covenant, Current Ratio, Minimum		1
Line of Credit, Covenant, Liquidity Requirement, Minimum			$ 10,000
Line of Credit [Member] | New Credit Facility [Member] | Minimum [Member] | Alternative Base Interest Rate [Member]
Bank Borrowings and New Credit Facility
Debt Instrument Escalating Basis Spread on Base Rate During Non-Conforming Period			500
Debt Instrument Escalating Basis Spread on Base Rate After Non-Conforming Period			200
Line of Credit [Member] | New Credit Facility [Member] | Minimum [Member] | Eurodollar Interest Rate [Member]
Bank Borrowings and New Credit Facility
Debt Instrument Escalating Rates for Eurodollar Rate Loans During Non-Conforming Period			600
Debt Instrument Escalating Rates for Eurodollar Rate Loans After Non-Conforming Period			300
Line of Credit [Member] | New Credit Facility [Member] | Maximum [Member] | Alternative Base Interest Rate [Member]
Bank Borrowings and New Credit Facility
Debt Instrument Escalating Basis Spread on Base Rate During Non-Conforming Period			600
Debt Instrument Escalating Basis Spread on Base Rate After Non-Conforming Period			300
Line of Credit [Member] | New Credit Facility [Member] | Maximum [Member] | Eurodollar Interest Rate [Member]
Bank Borrowings and New Credit Facility
Debt Instrument Escalating Rates for Eurodollar Rate Loans During Non-Conforming Period			700
Debt Instrument Escalating Rates for Eurodollar Rate Loans After Non-Conforming Period			400
Predecessor [Member]
Debt Instrument [Line Items]
Long-term Debt									324,900
Long-term Debt, Excluding Current Maturities									0
Bank Borrowings and New Credit Facility
Long-term Debt, Current Maturities									324,900
Interest expense including amortization of debt issuance costs				5,281		18,741	13,347	36,969
Contractual Interest Expense on Prepetition Liabilities Not Recognized in Statement of Operations				4,200			21,600
Predecessor [Member] | DIP Facility [Member]
Debtor-in-Possession Financing
Debtor-in-Possession Financing, Commitment Fees Paid							900
Bank Borrowings and New Credit Facility
Interest expense including amortization of debt issuance costs				4,500			6,400
Predecessor [Member] | Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities									0
Predecessor [Member] | Senior Notes Due 2020 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities									0
Predecessor [Member] | Senior Notes Due 2017 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities									0
Predecessor [Member] | Bank Borrowings [Member]
Bank Borrowings and New Credit Facility
Long-term Debt, Current Maturities									$ 324,900
Predecessor [Member] | Line of Credit [Member]
Bank Borrowings and New Credit Facility
Interest expense including amortization of debt issuance costs				700		2,200	6,800	4,000
Commitment fees included in interest expense, net				$ 0		100	0	400
Capitalized interest on our unproved properties						$ 1,200	$ 0	$ 2,400
Successor [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 254,000			254,000
Long-term Debt, Excluding Current Maturities		254,000			254,000
Bank Borrowings and New Credit Facility
Long-term Debt, Current Maturities		0			0
Interest expense including amortization of debt issuance costs					4,257
Successor [Member] | Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities		0			0
Successor [Member] | Senior Notes Due 2020 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities		0			0
Successor [Member] | Senior Notes Due 2017 [Member]
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities		0			0
Successor [Member] | New Credit Facility [Member]
Bank Borrowings and New Credit Facility
Interest expense including amortization of debt issuance costs					4,300
Commitment fees included in interest expense, net					100
Successor [Member] | Bank Borrowings [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 254,000			254,000
Successor [Member] | Line of Credit [Member]
Bank Borrowings and New Credit Facility
Capitalized interest on our unproved properties					$ 0
Subsequent Event [Member] | Line of Credit [Member] | New Credit Facility [Member]
Bank Borrowings and New Credit Facility
Line of Credit, Covenant, Debt to EBITDA Ratio, Minimum	3.5

Acquisitions and Dispositions52

Acquisitions and Dispositions Acquisitions and Dispositions (Details) - USD ($) $ in Millions	Apr. 25, 2016	Apr. 15, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net Proceeds from Texegy Deal		$ 46.9
South Bearhead Creek and Burr Ferry Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Participation Interest Sold in Oil and Gas Properties		75.00%
Net Proceeds from Texegy Deal		$ 46.9
Buyer's Assumption of ARO		$ 6.5
Masters Creek Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net Proceeds from Texegy Deal	$ 0.1
Buyer's Assumption of ARO	$ 8.1

Price-Risk Management Price-R53

Price-Risk Management Price-Risk Management (Details) $ in Millions	2 Months Ended	3 Months Ended	6 Months Ended
	Jun. 30, 2016USD ($)MMBTU$ / MMBTU$ / Boebbl	Jun. 30, 2015USD ($)	Jun. 30, 2015USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Receivables for Settled Derivatives | $	$ 0.3
Payables for Settled Derivatives | $	(0.7)
Derivative, Fair Value, Net | $	(9.5)
Predecessor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) on Price Risk Derivatives, Net | $		$ (0.1)	$ 0.3
Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) on Price Risk Derivatives, Net | $	(9.9)
Other Current Assets [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Fair Value, Gross Asset | $	0.1
Other Noncurrent Assets [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Fair Value, Gross Asset | $	0.1
Other Current Liabilities [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability, Fair Value, Gross Liability | $	(8)
Other Noncurrent Liabilities [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability, Fair Value, Gross Liability | $	$ (1.7)
Swap [Member] | Commodity Contract [Member] | Third Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Portion of Future Oil and Gas Production Being Hedged | bbl	172,497
Swap [Member] | Commodity Contract [Member] | Fourth Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Portion of Future Oil and Gas Production Being Hedged | bbl	155,997
Swap [Member] | Commodity Contract [Member] | First Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Portion of Future Oil and Gas Production Being Hedged | bbl	106,245
Swap [Member] | Commodity Contract [Member] | Second Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Portion of Future Oil and Gas Production Being Hedged | bbl	97,401
Swap [Member] | Commodity Contract [Member] | Third Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Portion of Future Oil and Gas Production Being Hedged | bbl	90,000
Swap [Member] | Commodity Contract [Member] | Fourth Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Portion of Future Oil and Gas Production Being Hedged | bbl	84,798
Swap [Member] | Energy Related Derivative [Member] | Third Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	3,980,002
Swap [Member] | Energy Related Derivative [Member] | Fourth Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	5,250,003
Swap [Member] | Energy Related Derivative [Member] | First Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	3,975,000
Swap [Member] | Energy Related Derivative [Member] | Second Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	3,625,005
Swap [Member] | Energy Related Derivative [Member] | Third Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	3,339,999
Swap [Member] | Energy Related Derivative [Member] | Fourth Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	3,125,001
Swap [Member] | Other Contract [Member] | Third Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	3,979,902
Swap [Member] | Other Contract [Member] | Fourth Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	5,250,003
Swap [Member] | Other Contract [Member] | First Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	3,577,500
Swap [Member] | Other Contract [Member] | Second Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	3,262,506
Swap [Member] | Other Contract [Member] | Third Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	3,005,001
Swap [Member] | Other Contract [Member] | Fourth Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Future Gas Production Hedged in MMBtu (Energy Item Type) | MMBTU	2,812,503
Minimum [Member] | Swap [Member] | Commodity Contract [Member] | Third Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	46
Minimum [Member] | Swap [Member] | Commodity Contract [Member] | Fourth Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	46.90
Minimum [Member] | Swap [Member] | Commodity Contract [Member] | First Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	47.25
Minimum [Member] | Swap [Member] | Commodity Contract [Member] | Second Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	47.25
Minimum [Member] | Swap [Member] | Commodity Contract [Member] | Third Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	47.25
Minimum [Member] | Swap [Member] | Commodity Contract [Member] | Fourth Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	47.25
Minimum [Member] | Swap [Member] | Energy Related Derivative [Member] | Third Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	2.30
Minimum [Member] | Swap [Member] | Energy Related Derivative [Member] | Fourth Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	2.67
Minimum [Member] | Swap [Member] | Energy Related Derivative [Member] | First Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	2.77
Minimum [Member] | Swap [Member] | Energy Related Derivative [Member] | Second Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	2.77
Minimum [Member] | Swap [Member] | Energy Related Derivative [Member] | Third Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	2.77
Minimum [Member] | Swap [Member] | Energy Related Derivative [Member] | Fourth Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	2.77
Minimum [Member] | Basis Swap [Member] | Other Contract [Member] | Third Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.05
Minimum [Member] | Basis Swap [Member] | Other Contract [Member] | Fourth Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.08
Minimum [Member] | Basis Swap [Member] | Other Contract [Member] | First Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.10
Minimum [Member] | Basis Swap [Member] | Other Contract [Member] | Second Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.05
Minimum [Member] | Basis Swap [Member] | Other Contract [Member] | Third Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.05
Minimum [Member] | Basis Swap [Member] | Other Contract [Member] | Fourth Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.05
Maximum [Member] | Swap [Member] | Commodity Contract [Member] | Third Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	49.48
Maximum [Member] | Swap [Member] | Commodity Contract [Member] | Fourth Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	50.36
Maximum [Member] | Swap [Member] | Commodity Contract [Member] | First Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	50.55
Maximum [Member] | Swap [Member] | Commodity Contract [Member] | Second Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	50.85
Maximum [Member] | Swap [Member] | Commodity Contract [Member] | Third Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	51.02
Maximum [Member] | Swap [Member] | Commodity Contract [Member] | Fourth Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price | $ / Boe	51.30
Maximum [Member] | Swap [Member] | Energy Related Derivative [Member] | Third Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	2.80
Maximum [Member] | Swap [Member] | Energy Related Derivative [Member] | Fourth Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	2.80
Maximum [Member] | Swap [Member] | Energy Related Derivative [Member] | First Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	3.09
Maximum [Member] | Swap [Member] | Energy Related Derivative [Member] | Second Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	2.85
Maximum [Member] | Swap [Member] | Energy Related Derivative [Member] | Third Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	2.91
Maximum [Member] | Swap [Member] | Energy Related Derivative [Member] | Fourth Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	3.03
Maximum [Member] | Basis Swap [Member] | Other Contract [Member] | Third Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.02
Maximum [Member] | Basis Swap [Member] | Other Contract [Member] | Fourth Quarter 2016 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.05
Maximum [Member] | Basis Swap [Member] | Other Contract [Member] | First Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.05
Maximum [Member] | Basis Swap [Member] | Other Contract [Member] | Second Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.02
Maximum [Member] | Basis Swap [Member] | Other Contract [Member] | Third Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.01
Maximum [Member] | Basis Swap [Member] | Other Contract [Member] | Fourth Quarter 2017 [Member] | Successor [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Swap Type, Fixed Price	0.04

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Apr. 22, 2016	Dec. 31, 2015	Oct. 03, 2012	Nov. 25, 2009	Jun. 01, 2007
Senior Notes [Member] | Senior Notes Due 2017 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate, stated percentage						7.125%
Senior Notes [Member] | Senior Notes Due 2020 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate, stated percentage					8.875%
Senior Notes [Member] | Senior Notes Due 2022 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate, stated percentage				7.875%
Predecessor [Member] | Senior Notes [Member] | Senior Notes Due 2017 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior notes			$ 23,000
Carrying value of senior notes			250,000
Predecessor [Member] | Senior Notes [Member] | Senior Notes Due 2020 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior notes			21,400
Carrying value of senior notes			225,000
Predecessor [Member] | Senior Notes [Member] | Senior Notes Due 2022 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of senior notes			34,500
Carrying value of senior notes			$ 400,000
Successor [Member] | Other Contract [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	$ 200
Derivative Liability	200
Successor [Member] | Natural Gas Swap [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	7,500
Successor [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	2,000
Successor [Member] | Fair Value, Inputs, Level 1 [Member] | Other Contract [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0
Derivative Liability	0
Successor [Member] | Fair Value, Inputs, Level 1 [Member] | Natural Gas Swap [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	0
Successor [Member] | Fair Value, Inputs, Level 1 [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	0
Successor [Member] | Fair Value, Inputs, Level 2 [Member] | Other Contract [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	200
Derivative Liability	200
Successor [Member] | Fair Value, Inputs, Level 2 [Member] | Natural Gas Swap [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	7,500
Successor [Member] | Fair Value, Inputs, Level 2 [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	2,000
Successor [Member] | Fair Value, Inputs, Level 3 [Member] | Other Contract [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0
Derivative Liability	0
Successor [Member] | Fair Value, Inputs, Level 3 [Member] | Natural Gas Swap [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	0
Successor [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity Contract [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ 0
Fresh Start Adjustments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fresh-Start Adjustment, Increase (Decrease), Assets		$ 226,695

Asset Retirement Obligations 55

Asset Retirement Obligations Asset Retirement Obligations (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
	Apr. 22, 2016	Jun. 30, 2016	Jun. 30, 2015	Apr. 22, 2016	Jun. 30, 2015	Dec. 31, 2015
Predecessor [Member]
Asset Retirement Obligation	$ 59,024			$ 59,024		$ 63,555
Fresh Start Adjustment for ARO	5,216			5,216
Accretion expense	319		$ 1,381	1,610	$ 2,746
Liabilities incurred for new wells and facilities construction				1
Reductions due to sold wells				(6,545)
Reductions due to plugged wells				(85)
Revisions in estimates				488
Asset retirement obligation - current portion						$ 7,165
Successor [Member]
Asset Retirement Obligation	$ 64,240	$ 56,105		$ 64,240
Accretion expense		832
Liabilities incurred for new wells and facilities construction		15
Reductions due to sold wells		(8,123)
Reductions due to plugged wells		(857)
Revisions in estimates		2
Asset retirement obligation - current portion		$ 5,058

Commitments and Contingencies56

Commitments and Contingencies Commitments and Contingencies (Details Textual) $ in Millions	Jun. 30, 2016USD ($)
Office Lease Obligation [Member]
Debt Instrument [Line Items]
Operating Leases, Future Minimum Payments Due	$ 2.1
Gas transportation and processing obligations [Member]
Debt Instrument [Line Items]
Operating Leases, Future Minimum Payments Due	41.9
Operating Leases, Future Minimum Payments Due, Next Twelve Months	7.7
Operating Leases, Future Minimum Payments, Due in Two Years	9.3
Operating Leases, Future Minimum Payments, Due in Three Years	8.7
Operating Leases, Future Minimum Payments, Due in Four Years	8.3
Operating Leases, Future Minimum Payments, Due in Five Years	$ 7.9