Ranger Oil (ROCC) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 04, 2017
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	PVAC
Entity Registrant Name	PENN VIRGINIA CORP
Entity Central Index Key	77,159
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		14,992,018

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other income (expense)
Income tax benefit (expense)	$ 0		$ 0
Net income (loss)			49,410
Successor [Member]
Revenues
Crude oil	32,351		62,424
Natural gas liquids	2,043		4,345
Natural gas	1,880		4,223
(Loss) gain on sales of assets, net	(134)		(69)
Other, net	142		345
Total revenues	36,282		71,268
Operating expenses
Lease operating	5,370		10,286
Gathering, processing and transportation	2,555		5,106
Production and ad valorem taxes	2,119		4,098
General and administrative	3,721		7,848
Exploration	0		0
Depreciation, depletion and amortization	11,076		20,886
Total operating expenses	24,841		48,224
Operating income (loss)	11,441		23,044
Other income (expense)
Interest expense	(1,274)		(1,812)
Derivatives	11,061		28,077
Other, net	101		101
Reorganization items, net	0		0
Income (loss) before income taxes	21,329		49,410
Net income (loss)	21,329		49,410
Preferred stock dividends	0		0
Net income (loss) attributable to common shareholders	$ 21,329		$ 49,410
Net income (loss) per share:
Basic (in dollars per share)	$ 1.42		$ 3.30
Diluted (in dollars per share)	$ 1.42		$ 3.27
Weighted average shares outstanding – basic (in shares)	14,992		14,992
Weighted average shares outstanding – diluted (in shares)	15,050		15,097
Predecessor [Member]
Revenues
Crude oil		$ 32,019		$ 57,985
Natural gas liquids		2,431		4,384
Natural gas		1,917		4,319
(Loss) gain on sales of assets, net		910		757
Other, net		(125)		204
Total revenues		37,152		67,649
Operating expenses
Lease operating		5,225		11,417
Gathering, processing and transportation		4,650		8,468
Production and ad valorem taxes		2,163		2,916
General and administrative		14,948		32,050
Exploration		4,320		5,647
Depreciation, depletion and amortization		11,746		25,558
Total operating expenses		43,052		86,056
Operating income (loss)		(5,900)		(18,407)
Other income (expense)
Interest expense		(32,221)		(56,655)
Derivatives		(21,759)		(17,267)
Other, net		(6)		(1,030)
Reorganization items, net		(7,380)		(7,380)
Income (loss) before income taxes		(67,266)		(100,739)
Income tax benefit (expense)		0		0
Net income (loss)		(67,266)		(100,739)
Preferred stock dividends		(2,820)		(5,972)
Net income (loss) attributable to common shareholders		$ (70,086)		$ (106,711)
Net income (loss) per share:
Basic (in dollars per share)		$ (0.79)		$ (1.22)
Diluted (in dollars per share)		$ (0.79)		$ (1.22)
Weighted average shares outstanding – basic (in shares)		89,051		87,496
Weighted average shares outstanding – diluted (in shares)		89,051		87,496

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net income (loss)			$ 49,410
Successor [Member]
Net income (loss)	$ 21,329		49,410
Other comprehensive loss:
Change in pension and postretirement obligations, net of tax $0 and $0 in 2016	0		0
Total Other Comprehensive Income (Loss), Net of Tax	0		0
Comprehensive income (loss)	$ 21,329		$ 49,410
Predecessor [Member]
Net income (loss)		$ (67,266)		$ (100,739)
Other comprehensive loss:
Change in pension and postretirement obligations, net of tax $0 and $0 in 2016		(11)		(38)
Total Other Comprehensive Income (Loss), Net of Tax		(11)		(38)
Comprehensive income (loss)		$ (67,277)		$ (100,777)

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Successor [Member]
Change in pension and postretirement obligations, net of tax	$ 0		$ 0
Predecessor [Member]
Change in pension and postretirement obligations, net of tax		$ (11)		$ (38)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 10,105	$ 6,761
Accounts receivable, net of allowance for doubtful accounts	42,807	29,095
Derivative assets	2,672	0
Other current assets	3,100	3,028
Total current assets	58,684	38,884
Property and equipment, net (full cost method)	272,461	247,473
Derivative assets	584	0
Other assets	5,423	5,329
Total assets	337,152	291,686
Current liabilities
Accounts payable and accrued liabilities	59,263	49,697
Derivative liabilities	0	12,932
Total current liabilities	59,263	62,629
Other liabilities	4,103	4,072
Derivative liabilities	90	14,437
Long-term debt	37,000	25,000
Commitments and contingencies (Note 12)
Shareholders’ equity:
Preferred stock of $0.01 par value – 5,000,000 shares authorized; none issued	0	0
Common stock of $0.01 par value – 45,000,000 shares authorized; 14,992,018 shares issued as of June 30, 2017 and December 31, 2016	150	150
Paid-in capital	192,359	190,621
Retained earnings (accumulated deficit)	44,114	(5,296)
Accumulated other comprehensive income	73	73
Total shareholders’ equity	236,696	185,548
Total liabilities and shareholders’ equity	$ 337,152	$ 291,686

CONDENSED CONSOLIDATED BALANCE6

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 100
Preferred stock, shares authorized	5,000,000	5,000,000
Schedule of Stockholders' Equity [Line Items]
Preferred stock, redemption value per share (in dollars per share)	$ 0	$ 0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	45,000,000	45,000,000
Common stock, shares issued	14,992,018	14,992,018
Series A Preferred Stock
Schedule of Stockholders' Equity [Line Items]
Preferred stock, issued	0	0
Series B Preferred Stock
Schedule of Stockholders' Equity [Line Items]
Preferred stock, issued	0	0

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities
Net income (loss)	$ 49,410
Derivative contracts:
Share-based compensation (equity-classified)	1,700
Cash flows from financing activities
Proceeds received from rights offering, net	100
Cash and cash equivalents – beginning of period	6,761
Cash and cash equivalents – end of period	10,105
Successor [Member]
Cash flows from operating activities
Net income (loss)	49,410
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	20,886
Accretion of firm transportation obligation	0
Derivative contracts:
Net (gains) losses	(28,077)
Cash settlements, net	(2,458)
Loss (gain) on sales of assets, net	69
Non-cash exploration expense	0
Non-cash interest expense	988
Share-based compensation (equity-classified)	1,694
Other, net	38
Changes in operating assets and liabilities, net	(6,533)
Net cash provided by operating activities	36,017
Cash flows from investing activities
Capital expenditures	(43,583)
Proceeds from sales of assets, net	0
Other, net	0
Net cash used in investing activities	(43,583)
Cash flows from financing activities
Proceeds from credit facility borrowings	14,000
Repayment of credit facility borrowings	(2,000)
Debt issuance costs paid	(1,090)
Proceeds received from rights offering, net	55
Other, net	(55)
Net cash provided by (used in) financing activities	10,910
Net increase in cash and cash equivalents	3,344
Cash and cash equivalents – beginning of period	6,761
Cash and cash equivalents – end of period	10,105
Cash paid for:
Interest, net of amounts capitalized	795
Income taxes, net of (refunds)	0
Reorganization items, net	901
Non-cash investing and financing activities:
Changes in accrued liabilities related to capital expenditures	2,322
Derivatives settled to reduce outstanding debt	$ 0
Predecessor [Member]
Cash flows from operating activities
Net income (loss)		$ (100,739)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization		25,558
Accretion of firm transportation obligation		317
Derivative contracts:
Net (gains) losses		17,267
Cash settlements, net		46,952
Loss (gain) on sales of assets, net		(757)
Non-cash exploration expense		1,713
Non-cash interest expense		22,189
Share-based compensation (equity-classified)		1,364
Other, net		(13)
Changes in operating assets and liabilities, net		31,922
Net cash provided by operating activities		45,773
Cash flows from investing activities
Capital expenditures		(14,575)
Proceeds from sales of assets, net		126
Other, net		1,186
Net cash used in investing activities		(13,263)
Cash flows from financing activities
Proceeds from credit facility borrowings		0
Repayment of credit facility borrowings		(5,468)
Debt issuance costs paid		0
Proceeds received from rights offering, net		0
Other, net		0
Net cash provided by (used in) financing activities		(5,468)
Net increase in cash and cash equivalents		27,042
Cash and cash equivalents – beginning of period		11,955
Cash and cash equivalents – end of period		38,997
Cash paid for:
Interest, net of amounts capitalized		2,765
Income taxes, net of (refunds)		(35)
Reorganization items, net		174
Non-cash investing and financing activities:
Changes in accrued liabilities related to capital expenditures		(10,555)
Derivatives settled to reduce outstanding debt		$ 51,979

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations Penn Virginia Corporation (together with its consolidated subsidiaries, unless the context otherwise requires, “Penn Virginia,” the “Company,” “we,” “us” or “our”) is an independent oil and gas company engaged in the onshore exploration, development and production of oil, natural gas liquids (“NGLs”) and natural gas. Our current operations consist primarily of drilling unconventional horizontal development wells and operating our producing wells in the Eagle Ford Shale (the “Eagle Ford”) in South Texas. Our operations are substantially concentrated with over 90 percent of our production, revenues and capital expenditures attributable to this region. We also have less significant operations in Oklahoma, primarily consisting of non-operated properties in the Granite Wash. In August 2016, we terminated our remaining operations in the Marcellus Shale in Pennsylvania and recently completed remediation activities at the sites of our former wells in that region. We are currently awaiting releases from state environmental authorities to finalize our exit activities.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our unaudited Condensed Consolidated Financial Statements include the accounts of Penn Virginia and all of our subsidiaries. Intercompany balances and transactions have been eliminated. Our Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Preparation of these statements involves the use of estimates and judgments where appropriate. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation of our Condensed Consolidated Financial Statements have been included. Our Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes included in our Annual Report on Form 10-K for the year ended December 31, 2016 . Operating results for the six months ended June 30, 2017 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . Comparability of Financial Statements to Prior Periods We adopted and began applying the relevant guidance provided in GAAP with respect to the accounting and financial statement disclosures for entities that have emerged from bankruptcy proceedings (“Fresh Start Accounting”) on September 12, 2016. Accordingly, our Condensed Consolidated Financial Statements and Notes after September 12, 2016, are not comparable to the Condensed Consolidated Financial Statements and Notes through that date. To facilitate our financial statement presentations, we refer to the reorganized company in these Condensed Consolidated Financial Statements and Notes as the “Successor,” which is effectively a new reporting entity for financial reporting purposes, for periods subsequent to September 12, 2016, and the “Predecessor” for periods prior to September 13, 2016. In connection with our reorganization, we experienced a change in control as the outstanding common and preferred shares of the Predecessor were canceled and substantially all of the Successor’s new common stock was issued to the Predecessor’s creditors. Furthermore, our Condensed Consolidated Financial Statements and Notes have been presented with a “black line” division to delineate, where applicable, the lack of comparability between the Predecessor and Successor. In addition, we adopted the full cost method of accounting for our oil and gas properties effective with our adoption of Fresh Start Accounting. Accordingly, our results of operations, financial position and cash flows for the Successor periods will be substantially different from our historic trends. We have recasted amounts for equity-classified share-based compensation recognized as a component of “General and administrative” expenses from the amounts originally reported for the three and six months ended June 30, 2016 to correct for an immaterial error identified by management and disclosed in our Quarterly Report on Form 10-Q for the period ended September 30, 2016. Previously reported expenses associated with this matter, as well as our operating losses and net losses, were increased by $5.3 million for each of the three and six-month periods ended June 30, 2016. Our net loss per basic and diluted share increased by $0.06 for each of the three and six-month periods ended June 30, 2016. Going Concern Presumption Our unaudited Condensed Consolidated Financial Statements for the Successor periods have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and other commitments in the normal course of business. Subsequent Events In July 2017, we entered into a definitive agreement to acquire Eagle Ford properties located primarily in Lavaca County, Texas for $ 205 million in cash, subject to customary purchase price adjustments, from Devon Energy Corporation. The acquisition has an effective date of March 1, 2017 and is expected to close in September 2017, subject to customary closing conditions. With the exception of the pending acquisition, management has evaluated all of our activities through the issuance date of our Condensed Consolidated Financial Statements and has concluded that no subsequent events have occurred that would require recognition in our Condensed Consolidated Financial Statements or disclosure in the Notes thereto. Recently Issued Accounting Pronouncements In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017–07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (“ASU 2017–07”) which provides guidance to improve the reporting of net benefit cost in financial statements. The guidance requires employers to disaggregate the service cost component from the other components of net benefit cost. The service cost component of net periodic benefit cost shall be reported in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period, except for amounts capitalized. All other components of net benefit cost shall be presented outside of a subtotal for income from operations. The line item used to present the components other than the service cost shall be disclosed if the other components are not presented in a separate line item or items. ASU 2017–07 is effective January 1, 2018 and is required to be applied retrospectively. ASU 2017–07 will be applicable to our legacy retiree benefit plans which cover a limited population of former employees. There is no service cost associated with these plans as they are not applicable to current employees, but rather “interest and other costs” associated with the legacy obligations. Upon the adoption of ASU 2017–07, the entirety of the expense associated with these plans will be presented as a component of the “Other income (expense)” caption in our Condensed Consolidated Statement of Operations. These costs are currently recognized as a component of “General and administrative” expenses. The total cost associated with these plans is generally less than $ 0.1 million on an annual basis and is therefore not material. We will adopt ASU 2017–07 in January 2018. In June 2016, the FASB issued ASU 2016–13, Measurement of Credit Losses on Financial Instruments (“ASU 2016–13”), which changes the recognition model for the impairment of financial instruments, including accounts receivable, loans and held-to-maturity debt securities, among others. ASU 2016–13 is required to be adopted using the modified retrospective method by January 1, 2020, with early adoption permitted for fiscal periods beginning after December 15, 2018. In contrast to current guidance, which considers current information and events and utilizes a probable threshold, (an “incurred loss” model), ASU 2016–13 mandates an “expected loss” model. The expected loss model: (i) estimates the risk of loss even when risk is remote, (ii) estimates losses over the contractual life, (iii) considers past events, current conditions and reasonable supported forecasts and (iv) has no recognition threshold. ASU 2016–13 will have applicability to our accounts receivable portfolio, particularly those receivables attributable to our joint interest partners. At this time, we do not anticipate that the adoption of ASU 2016–13 will have a significant impact on our Consolidated Financial Statements and related disclosures; however, we are currently in the early stages of evaluating the requirements and the period for which we will adopt the standard. In February 2016, the FASB issued ASU 2016–02, Leases (“ASU 2016–02”), which will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases with terms of more than twelve months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. ASU 2016–02 also will require disclosures regarding the amount, timing, and uncertainty of cash flows arising from leases. The effective date of ASU 2016–02 is January 1, 2019, with early adoption permitted. We believe that ASU 2016–02 will likely be applicable to our oil and natural gas gathering commitment arrangements as described in Note 12, our existing leases for office facilities and certain office equipment and potentially to certain drilling rig and completion contracts with terms in excess of twelve months to the extent we may have such contracts in the future. Our oil and natural gas gathering arrangements are fairly complex and involve multiple elements that could be construed as leases. Accordingly, we are continuing to evaluate the effect that ASU 2016–02 will have on our Consolidated Financial Statements and related disclosures as well as the period for which we will adopt the standard, however, at this time, we believe that we will likely adopt ASU 2016–02 in 2019. In May 2014, the FASB issued ASU 2014–09, Revenues from Contracts with Customers (“ASU 2014–09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014–09 will replace most existing revenue recognition guidance in GAAP when it becomes effective on January 1, 2018. The standard permits the use of either the retrospective or cumulative effect transition method upon adoption. While traditional commodity sales transactions, property conveyances and joint interest arrangements in the oil and gas industry are not expected to be significantly impacted by ASU 2014–09, natural gas imbalances and other non-product revenues, including our ancillary marketing, gathering and transportation and water disposal revenues could be affected. Accordingly, we are continuing to evaluate the effect that ASU 2014–09 will have on our Consolidated Financial Statements and related disclosures, with a more focused analysis on these other revenue sources, which we do not believe are significant. We are also continuing to monitor developments regarding ASU 2014–09 that are unique to our industry. We will adopt ASU 2014–09 in January 2018 using the cumulative effect transition method.

Bankruptcy Proceeding Bankruptc

Bankruptcy Proceeding Bankruptcy Proceedings	6 Months Ended
	Jun. 30, 2017
Reorganizations [Abstract]
Reorganization under Chapter 11 of US Bankruptcy Code Disclosure [Text Block]	Bankruptcy Proceedings and Emergence On May 12, 2016 (the “Petition Date”), we and eight of our subsidiaries filed voluntary petitions ( In re Penn Virginia Corporation, et al., Case No. 16-32395 ) seeking relief under Chapter 11 of Title 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Virginia (the “Bankruptcy Court”). On August 11, 2016 (the “Confirmation Date”), the Bankruptcy Court confirmed our Second Amended Joint Chapter 11 Plan of Reorganization of Penn Virginia Corporation and its Debtor Affiliates (the “Plan”), and we subsequently emerged from bankruptcy on September 12, 2016 (the “Effective Date”). While our emergence from bankruptcy is effectively complete, certain administrative and claims resolution activities will continue under the authority of the Bankruptcy Court until complete. As of August 4, 2017, certain claims were still in the process of resolution. While most of these matters are unsecured claims for which shares of Successor common stock have been allocated, certain of these matters must be settled with cash payments. As of June 30, 2017 , we had $ 3.9 million reserved for outstanding claims to be potentially settled in cash. This reserve is included as a component of “Accounts payable and accrued liabilities” on our Condensed Consolidated Balance Sheet.

Accounts Receivable and Major C

Accounts Receivable and Major Customers	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Accounts Receivable and Major Customers	Accounts Receivable and Major Customers The following table summarizes our accounts receivable by type as of the dates presented: June 30, December 31, 2017 2016 Customers $ 22,920 $ 20,489 Joint interest partners 21,598 7,238 Other 1 670 3,789 45,188 31,516 Less: Allowance for doubtful accounts (2,381 ) (2,421 ) $ 42,807 $ 29,095 _______________________ 1 Includes amounts owed to us from joint venture partners for acquisitions in prior periods, severance tax refunds approved by state taxing authorities to be returned to us and other miscellaneous non-operating items. For the six months ended June 30, 2017 , one customer accounted for $64.6 million , or approximately 91% , of our consolidated product revenues. As of June 30, 2017 , $19.2 million , or approximately 84% , of our consolidated accounts receivable from customers was related to this customer. For the six months ended June 30, 2016 , three customers accounted for $62.2 million , or approximately 93% , of our consolidated product revenues. The revenues generated from these customers during the six months ended June 30, 2016 were $32.1 million , $16.2 million and $13.9 million , or approximately 48% , 24% and 21% of the consolidated total, respectively. As of December 31, 2016 , $16.7 million , or approximately 81% , of our consolidated accounts receivable from customers was related to these customers. No significant uncertainties exist related to the collectability of amounts owed to us by any of these customers.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments We utilize derivative instruments to mitigate our financial exposure to crude oil and natural gas price volatility. Our derivative instruments are not formally designated as hedges in the context of GAAP. We typically utilize collars and swaps, which are placed with financial institutions that we believe are acceptable credit risks, to hedge against the variability in cash flows associated with anticipated sales of our future oil and gas production. While the use of derivative instruments limits the risk of adverse price movements, such use may also limit future revenues from favorable price movements. The counterparty to a collar or swap contract is required to make a payment to us if the settlement price for any settlement period is below the floor or swap price for such contract. We are required to make a payment to the counterparty if the settlement price for any settlement period is above the ceiling or swap price for such contract. Neither party is required to make a payment to the other party if the settlement price for any settlement period is equal to or greater than the floor price and equal to or less than the ceiling price for such contract. We determine the fair values of our commodity derivative instruments based on discounted cash flows derived from third-party quoted forward prices for West Texas Intermediate crude oil and NYMEX Henry Hub gas and closing prices as of the end of the reporting period. The discounted cash flows utilize discount rates adjusted for the credit risk of our counterparties if the derivative is in an asset position and our own credit risk if the derivative is in a liability position. We terminated all of our pre-petition derivative contracts from March 2016 through May 2016 for $63.0 million and reduced amounts outstanding under the pre-petition credit agreement (the “RBL”) by $52.0 million . In connection with these transactions, the counterparties to the derivative contracts, which were also affiliates of lenders under the RBL, transferred the cash proceeds that were used for RBL repayments directly to the administrative agent under the RBL. Accordingly, all of these RBL repayments have been presented as non-cash financing activities on our Condensed Consolidated Statement of Cash Flows for the six months ended June 30, 2016. In May 2016, we entered into a series of new commodity derivative contracts. Accordingly, we hedged a substantial portion of our future crude oil production through the end of 2019 at a weighted-average price of approximately $49.07 per barrel. We are currently unhedged with respect to NGL and natural gas production. The following table sets forth our commodity derivative positions as of June 30, 2017 : Average Weighted Volume Per Average Fair Value Instrument Day Swap Price Asset Liability Crude Oil: (barrels) ($/barrel) Third quarter 2017 Swaps 4,408 $ 48.59 $ 903,636 $ — Fourth quarter 2017 Swaps 4,408 $ 48.59 591,129 — First quarter 2018 Swaps 3,476 $ 49.10 419,761 — Second quarter 2018 Swaps 3,476 $ 49.10 299,826 — Third quarter 2018 Swaps 3,476 $ 49.10 193,534 — Fourth quarter 2018 Swaps 3,476 $ 49.10 82,328 — First quarter 2019 Swaps 2,916 $ 49.75 160,594 — Second quarter 2019 Swaps 2,916 $ 49.75 88,824 — Third quarter 2019 Swaps 2,916 $ 49.75 24,775 — Fourth quarter 2019 Swaps 2,916 $ 49.75 — 56,550 Settlements to be received in subsequent period 457,245 Financial Statement Impact of Derivatives The impact of our derivative activities on income is included in “Derivatives” in our Condensed Consolidated Statements of Operations. The following table summarizes the effects of our derivative activities for the periods presented: Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Derivative gains (losses) $ 11,061 $ (21,759 ) $ 28,077 $ (17,267 ) The effects of derivative gains and (losses) and cash settlements (except for those cash settlements attributable to the aforementioned termination transactions) are reported as adjustments to reconcile net income (loss) to net cash provided by operating activities. These items are recorded in the “Derivative contracts” section of our Condensed Consolidated Statements of Cash Flows under “Net (gains) losses” and “Cash settlements, net.” The following table summarizes the fair values of our derivative instruments, as well as the locations of these instruments on our Condensed Consolidated Balance Sheets as of the dates presented: Fair Values as of June 30, 2017 December 31, 2016 Derivative Derivative Derivative Derivative Type Balance Sheet Location Assets Liabilities Assets Liabilities Commodity contracts Derivative assets/liabilities – current $ 2,672 $ — $ — $ 12,932 Commodity contracts Derivative assets/liabilities – noncurrent 584 90 — 14,437 $ 3,256 $ 90 $ — $ 27,369 As of June 30, 2017 , we reported commodity derivative asset of $3.2 million . The contracts associated with this position are with two counterparties, both of which are investment grade financial institutions. This concentration may impact our overall credit risk in that these counterparties may be similarly affected by changes in economic or other conditions. We have neither paid to, nor received from, our counterparties any cash collateral in connection with our derivative positions. Furthermore, our derivative contracts are not subject to margin calls or similar accelerations. No significant uncertainties exist related to the collectability of amounts that may be owed to us by these counterparties.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The following table summarizes our property and equipment as of the dates presented: June 30, December 31, 2017 2016 Oil and gas properties: Proved $ 297,390 $ 251,083 Unproved 4,122 4,719 Total oil and gas properties 301,512 255,802 Other property and equipment 3,696 3,575 Total properties and equipment 305,208 259,377 Accumulated depreciation, depletion and amortization (32,747 ) (11,904 ) $ 272,461 $ 247,473 Unproved property costs of $ 4.1 million and $ 4.7 million have been excluded from amortization as of June 30, 2017 and December 31, 2016 , respectively. We transferred $ 2.0 million of undeveloped leasehold costs associated with acreage unlikely to be drilled or associated with proved undeveloped reserves, including capitalized interest, from unproved properties to the full cost pool during the six months ended June 30, 2017 . We capitalized internal costs of $ 1.1 million and interest of $ 0.1 million during the six months ended June 30, 2017 in accordance with our accounting policies. Average depreciation, depletion and amortization per barrel of oil equivalent of proved oil and gas properties was $11.74 and $10.02 for the six months ended June 30, 2017 and 2016 , respectively.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Credit Facility On the Effective Date upon our emergence from bankruptcy, we entered into our credit agreement (the “Credit Facility”). The Credit Facility currently provides for a $200 million revolving commitment and borrowing base and a $5 million sublimit for the issuance of letters of credit. In June 2017, the borrowing base was redetermined from $ 128 million to $200 million pursuant to an amendment to the Credit Facility (the “Amendment”). In connection with the Amendment, we paid and capitalized issue costs of $ 1.1 million and wrote-off $ 0.6 million of previously capitalized issue costs due to a change in the composition of financial institutions comprising the Credit Facility bank group. The availability under the Credit Facility may not exceed the lesser of the aggregate commitments or the borrowing base. The borrowing base under the Credit Facility is generally redetermined semi-annually in April and October of each year. Additionally, the Credit Facility lenders may, at their discretion, initiate a redetermination at any time during the six-month period between scheduled redeterminations. The Credit Facility is available to us to pay expenses associated with our bankruptcy proceedings and for general corporate purposes including working capital. The Credit Facility matures in September 2020. We had outstanding borrowings of $37 million and $25 million under the Credit Facility as of June 30, 2017 and December 31, 2016 , respectively. We also had $0.8 million in letters of credit outstanding as of June 30, 2017 and December 31, 2016 . The outstanding borrowings under the Credit Facility bear interest at a rate equal to, at our option, either (a) a customary reference rate plus an applicable margin ranging from 2.00% to 3.00% , determined based on the average availability under the Credit Facility or (b) a customary London interbank offered rate (“LIBOR”) plus an applicable margin ranging from 3.00% to 4.00% , determined based on the average availability under the Credit Facility. Interest on reference rate borrowings is payable quarterly in arrears and is computed on the basis of a year of 365/366 days, and interest on LIBOR borrowings is payable every one , three or six months, at our election, and is computed on the basis of a year of 360 days. As of June 30, 2017 , the actual weighted-average interest rate on the outstanding borrowings under the Credit Facility was 4.3289% . Unused commitment fees are charged at a rate of 0.50% . The Credit Facility is guaranteed by us and all of our subsidiaries (the “Guarantor Subsidiaries”). The guarantees under the Credit Facility are full and unconditional and joint and several. Substantially all of our consolidated assets are held by the Guarantor Subsidiaries. The parent company has no material independent assets or operations. There are no significant restrictions on the ability of the parent company or any of the Guarantor Subsidiaries to obtain funds through dividends, advances or loans. The obligations under the Credit Facility are secured by a first priority lien on substantially all of our assets. The Credit Facility requires us to maintain (1) a minimum interest coverage ratio (adjusted earnings before interest, taxes, depreciation, depletion, amortization and exploration expenses as defined in the Credit Facility (“EBITDAX”) to adjusted interest expense), measured as of the last day of each fiscal quarter, of 3.00 to 1.00, (2) a minimum current ratio (as defined in the Credit Facility, which considers the unused portion of the total commitment as a current asset), measured as of the last day of each fiscal quarter of 1.00 to 1.00, and (3) a maximum leverage ratio (consolidated indebtedness to EBITDAX), measured as of the last day of each fiscal quarter, initially of 4.00 to 1.00, decreasing on December 31, 2017 to 3.75 to 1.00 and on March 31, 2018 and thereafter to 3.50 to 1.00. The Credit Facility also contains customary affirmative and negative covenants, including as to compliance with laws (including environmental laws, ERISA and anti-corruption laws), maintenance of required insurance, delivery of quarterly and annual financial statements, oil and gas engineering reports and budgets, maintenance and operation of property (including oil and gas properties), restrictions on the incurrence of liens and indebtedness, merger, consolidation or sale of assets, payment of dividends, and transactions with affiliates and other customary covenants. The Credit Facility contains customary events of default and remedies for credit facilities of this nature. If we do not comply with the financial and other covenants in the Credit Facility, the lenders may, subject to customary cure rights, require immediate payment of all amounts outstanding under the Credit Facility. As of June 30, 2017 , we were in compliance with all of these covenants.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We recognized a federal and state income tax expense for the six months ended June 30, 2017 at the blended rate of 35.52% ; however, the federal and state tax expense was fully offset by an adjustment to the valuation allowance against our net deferred tax assets. We recognized a federal income tax benefit for the six months ended June 30, 2016 at the statutory rate of 35% which was fully offset by a valuation allowance against our net deferred tax assets. We considered both the positive and negative evidence in determining that it was more likely than not that some portion or all of our deferred tax assets will not be realized, primarily as a result of cumulative losses. We received a state income tax refund of less than $0.1 million during the six months ended June 30, 2016 . We have evaluated the impact of the reorganization, including the change in control, resulting from our emergence from bankruptcy. From an income tax perspective, the most significant impact is attributable to our carryover tax attributes associated with our net operating losses (“NOLs”). We believe that the Successor will be able to fully absorb the cancellation of debt income realized by the Predecessor in connection with the reorganization with its adjusted NOL carryovers. The amount of the remaining NOL carryovers and the tax basis of our properties will be limited under Section 382 of the Internal Revenue Code due to the change in control that occurred upon our emergence from bankruptcy on the Effective Date. As the tax basis of our assets, primarily our oil and gas properties, is in excess of the carrying value, as adjusted in the Fresh Start Accounting process, the Successor is in a net deferred tax asset position. We have determined that it is more likely than not that we will not realize future income tax benefits from the additional tax basis and our remaining NOL carryovers. Accordingly, we have provided for a full valuation allowance of the underlying deferred tax assets.

Exit Activities

Exit Activities	6 Months Ended
	Jun. 30, 2017
Restructuring and Related Activities [Abstract]
Exit Activities	Exit Activities Prior to the Effective Date, the Predecessor committed to a number of actions, or exit activities, the most significant of which are described below. Reductions in Force In connection with efforts to reduce our administrative costs, we took certain actions to reduce our total employee headcount. In 2016, we reduced our total employee headcount by 53 employees including 28 of whom were terminated in the six months ended June 30, 2016 . We incurred charges of $ 1.1 million in connection with this action and paid a total of $ 0.7 million in severance and termination benefits during the six months ended June 30, 2016 . We recognized an immaterial credit adjustment to the remaining obligation of less than $ 0.1 million during the period ended June 30, 2017 . There were no payments under these obligations during the six months ended June 30, 2017 . The costs associated with these reduction-in-force actions are included as a component of our “General and administrative” expenses in our Condensed Consolidated Statements of Operations. The related obligation is included in “Accounts payable and accrued liabilities” on our Condensed Consolidated Balance Sheet. Drilling Rig Termination In connection with the suspension of our 2016 drilling program in the Eagle Ford, we terminated a drilling rig contract and incurred $ 1.3 million in early termination charges during the six months ended June 30, 2016. As this obligation represented a pre-petition liability of the Predecessor, it was discharged in connection with our emergence from bankruptcy. The vendor recovered a portion of the amount in the form of Successor common stock. Firm Transportation Obligation We had a contractual obligation for certain firm transportation capacity in the Appalachian region that was scheduled to expire in 2022 and, as a result of the sale of our natural gas assets in this region in 2012, we no longer had production available to satisfy this commitment. We originally recognized a liability in 2012 representing this obligation for the estimated discounted future net cash outflows over the remaining term of the contract. The accretion of the obligation through the Petition Date, net of any recoveries from periodic sales of our contractual capacity, was charged as an offset to Other revenue. During the six months ended June 30, 2016 , we paid a total of $ 1.1 million and recognized accretion expense of $ 0.3 million attributable to the underlying obligation. In connection with our emergence from bankruptcy, we rejected the underlying contract.

Additional Balance Sheet Detail

Additional Balance Sheet Detail	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Balance Sheet Detail	Additional Balance Sheet Detail The following table summarizes components of selected balance sheet accounts as of the dates presented: June 30, December 31, 2017 2016 Other current assets: Tubular inventory and well materials $ 2,100 $ 2,125 Prepaid expenses 1,000 903 $ 3,100 $ 3,028 Other assets: Deferred issuance costs of the Credit Facility $ 2,887 $ 2,785 Other 2,536 2,544 $ 5,423 $ 5,329 Accounts payable and accrued liabilities: Trade accounts payable $ 10,166 $ 9,825 Drilling costs 4,802 2,479 Royalties and revenue – related 33,231 26,116 Compensation – related 1,739 2,557 Interest 84 55 Reserve for bankruptcy claims 3,922 3,922 Other 5,319 4,743 $ 59,263 $ 49,697 Other liabilities: Asset retirement obligations ( “AROs”) $ 2,506 $ 2,459 Defined benefit pension obligations 972 1,025 Postretirement health care benefit obligations 525 488 Other 100 100 $ 4,103 $ 4,072

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We apply the authoritative accounting provisions for measuring fair value of both our financial and nonfinancial assets and liabilities. Fair value is an exit price representing the expected amount we would receive upon the sale of an asset or that we would expect to pay to transfer a liability in an orderly transaction with market participants at the measurement date. Our financial instruments that are subject to fair value disclosure consist of cash and cash equivalents, accounts receivable, accounts payable, derivatives and our Credit Facility borrowings. As of June 30, 2017 , the carrying values of all of these financial instruments approximated fair value. Recurring Fair Value Measurements Certain financial assets and liabilities are measured at fair value on a recurring basis on our Condensed Consolidated Balance Sheets. The following tables summarize the valuation of those assets and liabilities as of the dates presented: June 30, 2017 Fair Value Fair Value Measurement Classification Description Measurement Level 1 Level 2 Level 3 Assets: Commodity derivative assets – current $ 2,672 $ — $ 2,672 $ — Commodity derivative assets – noncurrent 584 — 584 — Liabilities: Commodity derivative liabilities – current $ — $ — $ — $ — Commodity derivative liabilities – noncurrent (90 ) — (90 ) — December 31, 2016 Fair Value Fair Value Measurement Classification Description Measurement Level 1 Level 2 Level 3 Liabilities: Commodity derivative liabilities – current $ (12,932 ) $ — $ (12,932 ) $ — Commodity derivative liabilities – noncurrent (14,437 ) — (14,437 ) — Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one level of the fair value hierarchy to another level. In such instances, the transfer is deemed to have occurred at the beginning of the quarterly period in which the event or change in circumstances that caused the transfer occurred. There were no transfers during the six months ended June 30, 2017 and 2016 . We used the following methods and assumptions to estimate fair values for the financial assets and liabilities described below: • Commodity derivatives : We determine the fair values of our commodity derivative instruments based on discounted cash flows derived from third-party quoted forward prices for West Texas Intermediate crude oil and NYMEX Henry Hub gas closing prices as of the end of the reporting periods. We generally use the income approach, using valuation techniques that convert future cash flows to a single discounted value. Each of these is a level 2 input. Non-Recurring Fair Value Measurements The most significant non-recurring fair value measurements utilized in the preparation of our Condensed Consolidated Financial Statements are those attributable to the initial determination of AROs associated with the ongoing development of new oil and gas properties. The determination of the fair value of AROs is based upon regional market and facility specific information. The amount of an ARO and the costs capitalized represent the estimated future cost to satisfy the abandonment obligation using current prices that are escalated by an assumed inflation factor after discounting the future cost back to the date that the abandonment obligation was incurred using a rate commensurate with the risk, which approximates our cost of funds. Because these significant fair value inputs are typically not observable, we have categorized the initial estimates as level 3 inputs. In addition, we utilize non-recurring fair value measurements with respect to the recognition and measurement of asset impairments, particularly during our Predecessor periods during which time we applied the successful efforts method to our oil and gas properties. The factors used to determine fair value for purposes of recognizing and measuring asset impairments while we applied the successful efforts method to our oil and gas properties during our Predecessor periods included, but were not limited to, estimates of proved and risk-adjusted probable reserves, future commodity prices, indicative sales prices for properties, the timing of future production and capital expenditures and a discount rate commensurate with the risk reflective of the lives remaining for the respective oil and gas properties. Because these significant fair value inputs were typically not observable, we have categorized the amounts as level 3 inputs. Under the full cost method, which we have applied since the Effective Date, we apply a ceiling test determination utilizing prescribed procedures. The full cost method is substantially different from the successful efforts method which relies upon fair value measurements.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Gathering and Intermediate Transportation Commitments We have long-term agreements with Republic Midstream, LLC (“Republic Midstream”) and Republic Midstream Marketing, LLC (“Republic Marketing” and, together with Republic Midstream, collectively, “Republic”) to provide for gathering and intermediate pipeline transportation services for a substantial portion of our crude oil and condensate production in the South Texas region as well as volume capacity support for certain downstream interstate pipeline transportation. Republic is obligated to gather and transport our crude oil and condensate from within a dedicated area in the Eagle Ford via a gathering system and intermediate takeaway pipeline connecting to a downstream interstate pipeline operated by a third party through 2041. We have a minimum volume commitment of 8,000 gross barrels of oil per day to Republic through 2031 under the gathering agreement. Under the marketing agreement, we have a 10 -year commitment to sell 8,000 barrels per day of crude oil to Republic, or any third party, utilizing Republic Marketing’s capacity on a certain downstream interstate pipeline. Excluding the potential impact of the effects of price escalation from commodity price changes, the minimum fee requirements under the Amended Agreements are as follows: $ 5.0 million for the remainder of 2017, $ 10.4 million for 2018, $ 11.7 million for 2019, $ 13.0 million for 2020 through 2025, $ 7.4 million for 2026, $ 3.8 million for 2027 through 2030 and $ 2.2 million for 2031. Drilling Commitments As of June 30, 2017 , we had contractual commitments for two drilling rigs. The first rig is subject to a six-month commitment through September 2017. The second rig, which completed a seven-well commitment in July 2017, was extended for a six-month commitment that ends in January 2018. We have approximately $ 4.5 million of remaining obligations associated with these commitments. Legal and Regulatory We are involved, from time to time, in various legal proceedings arising in the ordinary course of business. While the ultimate results of these proceedings cannot be predicted with certainty, our management believes that these claims will not have a material effect on our financial position, results of operations or cash flows. As of June 30, 2017 , we continue to maintain a $0.1 million reserve for a litigation matter. As of June 30, 2017 , we also had AROs of approximately $2.5 million attributable to the plugging of abandoned wells.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity The following tables summarize the components of our shareholders ’ equity and the changes therein as of and for six months ended June 30, 2017 : December 31, All Other June 30, 2016 Net Income Changes 1 2017 Common stock $ 150 $ — $ — $ 150 Paid-in capital 190,621 — 1,738 192,359 Retained earnings (accumulated deficit) (5,296 ) 49,410 — 44,114 Accumulated other comprehensive income 73 — — 73 $ 185,548 $ 49,410 $ 1,738 $ 236,696 _______________________ 1 Includes equity-classified share-based compensation of $ 1.7 million and $ 0.1 million from the receipt in May 2017 of proceeds attributable to the rights offering in 2016 that had been held in escrow, net of costs to register our common stock.

Share-Based Compensation and Ot

Share-Based Compensation and Other Benefit Plans	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation and Other Benefit Plans	Share-Based Compensation and Other Benefit Plans Share-Based Compensation We recognize share-based compensation expense related to our share-based compensation plans as a component of “General and administrative” expense in our Condensed Consolidated Statements of Operations. In the Predecessor periods in 2016 we had outstanding equity-classified awards in the form of stock options, restricted stock units and deferred stock units. All outstanding equity-classified share-based compensation awards were canceled in connection with our emergence from bankruptcy. We reserved 749,600 shares of Successor common Stock for issuance under the Penn Virginia Corporation Management Incentive Plan for future share-based compensation awards. A total of 256,400 shares of time-vested restricted stock units (“RSUs”) and 62,675 performance restricted stock units (“PRSUs”) had been granted as of June 30, 2017 . The following table summarizes our share-based compensation expense (benefit) recognized for the periods presented: Successor Predecessor Successor Predecessor Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Equity-classified awards 1 $ 848 $ 1,965 $ 1,694 $ 1,364 Liability-classified awards — (12 ) — (19 ) $ 848 $ 1,953 $ 1,694 $ 1,345 _______________________ 1 Amounts for the 2016 periods have been recasted (see Note 2). In the six months ended June 30, 2017 , we granted 148,837 RSUs to certain employees with an average grant-date fair value of $ 51.50 per RSU. The RSUs are being charged to expense on a straight-line basis over five years. In January 2017, we also granted 62,675 PRSUs to members of our management. The PRSUs were issued collectively in three separate tranches with individual three -year performance periods beginning in January 2017, 2018 and 2019, respectively. Vesting of the PRSUs can range from zero to 200 percent of the original grant based on the performance of our common stock relative to an industry index. The grant date fair values of the individual tranches were $ 65.28 for the first performance period tranche and $61.74 for each of the second and third performance period tranches. Due to their market condition, the PRSUs are being charged to expense using graded vesting over five years. The fair value of each PRSU award was estimated on the January 26, 2017 date of grant using a Monte Carlo simulation. Expected volatilities were based on historical volatilities. A risk-free rate of interest of 1.49% was utilized which is equivalent to the yield, as of the measurement date, of the zero-coupon U.S. Treasury bill commensurate with the longest remaining performance measurement period for each tranche. We assumed no payment of dividends during the performance periods. Other Benefit Plans We maintain the Penn Virginia Corporation and Affiliated Companies Employees 401(k) Plan (the “401(k) Plan”), a defined contribution plan, which covers substantially all of our employees. We recognized $0.1 million and $0.2 million of expense attributable to the 401(k) Plan for the three and six months ended June 30, 2017 , respectively and $0.2 million and $0.3 million of expense attributable to the 401(k) Plan for the three and six months ended June 30, 2016 , respectively. We maintain unqualified legacy defined benefit pension and defined benefit postretirement plans that cover a limited number of former employees, all of whom retired prior to 2000. The combined expense recognized with respect to these plans was less than $0.1 million for each of the three and six months ended June 30, 2017 and 2016 .

Interest Expense

Interest Expense	6 Months Ended
	Jun. 30, 2017
Banking and Thrift [Abstract]
Interest Expense	The following table summarizes the components of interest expense for the periods presented: Successor Predecessor Successor Predecessor Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Interest on borrowings and related fees 1 $ 515 $ 11,344 $ 905 $ 34,649 Amortization of debt issuance costs 2 800 20,920 988 22,189 Capitalized interest (41 ) (43 ) (81 ) (183 ) $ 1,274 $ 32,221 $ 1,812 $ 56,655 ___________________ 1 Absent the bankruptcy proceedings and the corresponding suspension of the accrual of interest on unsecured debt, we would have recorded total contractual interest expense of $ 23.5 million and $ 46.9 million for the three and six months ended June 30, 2016, including $ 5.4 million and $ 10.9 million attributable to the 7.25% Senior Notes due 2019 (“2019 Senior Notes”) and $ 16.5 million and $ 32.9 million attributable to the 8.5% Senior Notes due 2020 (together with the 2019 Senior Notes, the “Senior Notes”). 2 Includes a $0.6 million write-off in June 2017 attributable to a change in the composition of financial institutions comprising the Credit Facility’s bank group (see Note 7). Includes $ 20.5 million related to the accelerated write-off of unamortized debt issuance costs associated with the RBL and Senior Notes for the six months ended June 30, 2016.

Earnings (Loss) per Share

Earnings (Loss) per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings (Loss) per Share	Earnings (Loss) per Share The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings (loss) per share for the periods presented: Successor Predecessor Successor Predecessor Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Net income (loss) $ 21,329 $ (67,266 ) $ 49,410 $ (100,739 ) Less: Preferred stock dividends 1 — (2,820 ) — (5,972 ) Net income (loss) attributable to common shareholders – basic and diluted $ 21,329 $ (70,086 ) $ 49,410 $ (106,711 ) Weighted-average shares – basic 14,992 89,051 14,992 87,496 Effect of dilutive securities 2 58 — 105 — Weighted-average shares – diluted 15,050 89,051 15,097 87,496 _______________________ 1 Dividends attributable to our Series A 6% Convertible Perpetual Preferred Stock and Series B 6% Convertible Perpetual Preferred Stock (together, the “Series A and B Preferred Stock”) were excluded from the computation of diluted loss per share for the three and six months ended June 30, 2016 , as their assumed conversion would have been anti-dilutive. 2 The number of dilutive securities for the three and six months ended June 30, 2017 , which is attributable to RSUs and PRSUs, was determined under the “treasury stock” method. For the six months ended June 30, 2016 , approximately 26.6 million of potentially dilutive securities, including the Series A and Series B Preferred Stock, stock options and restricted stock units, had the effect of being anti-dilutive and were excluded from the calculation of diluted loss per common share.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
Schedule of Policies [Line Items]
New Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017–07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (“ASU 2017–07”) which provides guidance to improve the reporting of net benefit cost in financial statements. The guidance requires employers to disaggregate the service cost component from the other components of net benefit cost. The service cost component of net periodic benefit cost shall be reported in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period, except for amounts capitalized. All other components of net benefit cost shall be presented outside of a subtotal for income from operations. The line item used to present the components other than the service cost shall be disclosed if the other components are not presented in a separate line item or items. ASU 2017–07 is effective January 1, 2018 and is required to be applied retrospectively. ASU 2017–07 will be applicable to our legacy retiree benefit plans which cover a limited population of former employees. There is no service cost associated with these plans as they are not applicable to current employees, but rather “interest and other costs” associated with the legacy obligations. Upon the adoption of ASU 2017–07, the entirety of the expense associated with these plans will be presented as a component of the “Other income (expense)” caption in our Condensed Consolidated Statement of Operations. These costs are currently recognized as a component of “General and administrative” expenses. The total cost associated with these plans is generally less than $ 0.1 million on an annual basis and is therefore not material. We will adopt ASU 2017–07 in January 2018. In June 2016, the FASB issued ASU 2016–13, Measurement of Credit Losses on Financial Instruments (“ASU 2016–13”), which changes the recognition model for the impairment of financial instruments, including accounts receivable, loans and held-to-maturity debt securities, among others. ASU 2016–13 is required to be adopted using the modified retrospective method by January 1, 2020, with early adoption permitted for fiscal periods beginning after December 15, 2018. In contrast to current guidance, which considers current information and events and utilizes a probable threshold, (an “incurred loss” model), ASU 2016–13 mandates an “expected loss” model. The expected loss model: (i) estimates the risk of loss even when risk is remote, (ii) estimates losses over the contractual life, (iii) considers past events, current conditions and reasonable supported forecasts and (iv) has no recognition threshold. ASU 2016–13 will have applicability to our accounts receivable portfolio, particularly those receivables attributable to our joint interest partners. At this time, we do not anticipate that the adoption of ASU 2016–13 will have a significant impact on our Consolidated Financial Statements and related disclosures; however, we are currently in the early stages of evaluating the requirements and the period for which we will adopt the standard. In February 2016, the FASB issued ASU 2016–02, Leases (“ASU 2016–02”), which will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases with terms of more than twelve months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. ASU 2016–02 also will require disclosures regarding the amount, timing, and uncertainty of cash flows arising from leases. The effective date of ASU 2016–02 is January 1, 2019, with early adoption permitted. We believe that ASU 2016–02 will likely be applicable to our oil and natural gas gathering commitment arrangements as described in Note 12, our existing leases for office facilities and certain office equipment and potentially to certain drilling rig and completion contracts with terms in excess of twelve months to the extent we may have such contracts in the future. Our oil and natural gas gathering arrangements are fairly complex and involve multiple elements that could be construed as leases. Accordingly, we are continuing to evaluate the effect that ASU 2016–02 will have on our Consolidated Financial Statements and related disclosures as well as the period for which we will adopt the standard, however, at this time, we believe that we will likely adopt ASU 2016–02 in 2019. In May 2014, the FASB issued ASU 2014–09, Revenues from Contracts with Customers (“ASU 2014–09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014–09 will replace most existing revenue recognition guidance in GAAP when it becomes effective on January 1, 2018. The standard permits the use of either the retrospective or cumulative effect transition method upon adoption. While traditional commodity sales transactions, property conveyances and joint interest arrangements in the oil and gas industry are not expected to be significantly impacted by ASU 2014–09, natural gas imbalances and other non-product revenues, including our ancillary marketing, gathering and transportation and water disposal revenues could be affected. Accordingly, we are continuing to evaluate the effect that ASU 2014–09 will have on our Consolidated Financial Statements and related disclosures, with a more focused analysis on these other revenue sources, which we do not believe are significant. We are also continuing to monitor developments regarding ASU 2014–09 that are unique to our industry. We will adopt ASU 2014–09 in January 2018 using the cumulative effect transition method.
Basis of Presentation	Basis of Presentation Our unaudited Condensed Consolidated Financial Statements include the accounts of Penn Virginia and all of our subsidiaries. Intercompany balances and transactions have been eliminated. Our Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Preparation of these statements involves the use of estimates and judgments where appropriate. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation of our Condensed Consolidated Financial Statements have been included. Our Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes included in our Annual Report on Form 10-K for the year ended December 31, 2016 . Operating results for the six months ended June 30, 2017 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . Comparability of Financial Statements to Prior Periods We adopted and began applying the relevant guidance provided in GAAP with respect to the accounting and financial statement disclosures for entities that have emerged from bankruptcy proceedings (“Fresh Start Accounting”) on September 12, 2016. Accordingly, our Condensed Consolidated Financial Statements and Notes after September 12, 2016, are not comparable to the Condensed Consolidated Financial Statements and Notes through that date. To facilitate our financial statement presentations, we refer to the reorganized company in these Condensed Consolidated Financial Statements and Notes as the “Successor,” which is effectively a new reporting entity for financial reporting purposes, for periods subsequent to September 12, 2016, and the “Predecessor” for periods prior to September 13, 2016. In connection with our reorganization, we experienced a change in control as the outstanding common and preferred shares of the Predecessor were canceled and substantially all of the Successor’s new common stock was issued to the Predecessor’s creditors. Furthermore, our Condensed Consolidated Financial Statements and Notes have been presented with a “black line” division to delineate, where applicable, the lack of comparability between the Predecessor and Successor. In addition, we adopted the full cost method of accounting for our oil and gas properties effective with our adoption of Fresh Start Accounting. Accordingly, our results of operations, financial position and cash flows for the Successor periods will be substantially different from our historic trends. We have recasted amounts for equity-classified share-based compensation recognized as a component of “General and administrative” expenses from the amounts originally reported for the three and six months ended June 30, 2016 to correct for an immaterial error identified by management and disclosed in our Quarterly Report on Form 10-Q for the period ended September 30, 2016. Previously reported expenses associated with this matter, as well as our operating losses and net losses, were increased by $5.3 million for each of the three and six-month periods ended June 30, 2016. Our net loss per basic and diluted share increased by $0.06 for each of the three and six-month periods ended June 30, 2016. Going Concern Presumption Our unaudited Condensed Consolidated Financial Statements for the Successor periods have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and other commitments in the normal course of business.
Fair Value Measurements	We apply the authoritative accounting provisions for measuring fair value of both our financial and nonfinancial assets and liabilities. Fair value is an exit price representing the expected amount we would receive upon the sale of an asset or that we would expect to pay to transfer a liability in an orderly transaction with market participants at the measurement date.
Fair Value, Measurements, Recurring
Schedule of Policies [Line Items]
Fair Value Measurements	We used the following methods and assumptions to estimate fair values for the financial assets and liabilities described below: • Commodity derivatives : We determine the fair values of our commodity derivative instruments based on discounted cash flows derived from third-party quoted forward prices for West Texas Intermediate crude oil and NYMEX Henry Hub gas closing prices as of the end of the reporting periods. We generally use the income approach, using valuation techniques that convert future cash flows to a single discounted value. Each of these is a level 2 input.
Fair Value, Measurements, Nonrecurring
Schedule of Policies [Line Items]
Fair Value Measurements	Non-Recurring Fair Value Measurements The most significant non-recurring fair value measurements utilized in the preparation of our Condensed Consolidated Financial Statements are those attributable to the initial determination of AROs associated with the ongoing development of new oil and gas properties. The determination of the fair value of AROs is based upon regional market and facility specific information. The amount of an ARO and the costs capitalized represent the estimated future cost to satisfy the abandonment obligation using current prices that are escalated by an assumed inflation factor after discounting the future cost back to the date that the abandonment obligation was incurred using a rate commensurate with the risk, which approximates our cost of funds. Because these significant fair value inputs are typically not observable, we have categorized the initial estimates as level 3 inputs. In addition, we utilize non-recurring fair value measurements with respect to the recognition and measurement of asset impairments, particularly during our Predecessor periods during which time we applied the successful efforts method to our oil and gas properties. The factors used to determine fair value for purposes of recognizing and measuring asset impairments while we applied the successful efforts method to our oil and gas properties during our Predecessor periods included, but were not limited to, estimates of proved and risk-adjusted probable reserves, future commodity prices, indicative sales prices for properties, the timing of future production and capital expenditures and a discount rate commensurate with the risk reflective of the lives remaining for the respective oil and gas properties. Because these significant fair value inputs were typically not observable, we have categorized the amounts as level 3 inputs. Under the full cost method, which we have applied since the Effective Date, we apply a ceiling test determination utilizing prescribed procedures. The full cost method is substantially different from the successful efforts method which relies upon fair value measurements.

Accounts Receivable and Major25

Accounts Receivable and Major Customers (Tables)	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Summary of Accounts Receivable	The following table summarizes our accounts receivable by type as of the dates presented: June 30, December 31, 2017 2016 Customers $ 22,920 $ 20,489 Joint interest partners 21,598 7,238 Other 1 670 3,789 45,188 31,516 Less: Allowance for doubtful accounts (2,381 ) (2,421 ) $ 42,807 $ 29,095 _______________________ 1 Includes amounts owed to us from joint venture partners for acquisitions in prior periods, severance tax refunds approved by state taxing authorities to be returned to us and other miscellaneous non-operating items.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Commodity Derivative Positions	The following table sets forth our commodity derivative positions as of June 30, 2017 : Average Weighted Volume Per Average Fair Value Instrument Day Swap Price Asset Liability Crude Oil: (barrels) ($/barrel) Third quarter 2017 Swaps 4,408 $ 48.59 $ 903,636 $ — Fourth quarter 2017 Swaps 4,408 $ 48.59 591,129 — First quarter 2018 Swaps 3,476 $ 49.10 419,761 — Second quarter 2018 Swaps 3,476 $ 49.10 299,826 — Third quarter 2018 Swaps 3,476 $ 49.10 193,534 — Fourth quarter 2018 Swaps 3,476 $ 49.10 82,328 — First quarter 2019 Swaps 2,916 $ 49.75 160,594 — Second quarter 2019 Swaps 2,916 $ 49.75 88,824 — Third quarter 2019 Swaps 2,916 $ 49.75 24,775 — Fourth quarter 2019 Swaps 2,916 $ 49.75 — 56,550 Settlements to be received in subsequent period 457,245
Impact of Derivative Activities on Condensed Consolidated Statements of Income	The impact of our derivative activities on income is included in “Derivatives” in our Condensed Consolidated Statements of Operations. The following table summarizes the effects of our derivative activities for the periods presented: Successor Predecessor Successor Predecessor Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Derivative gains (losses) $ 11,061 $ (21,759 ) $ 28,077 $ (17,267 )
Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets	The following table summarizes the fair values of our derivative instruments, as well as the locations of these instruments on our Condensed Consolidated Balance Sheets as of the dates presented: Fair Values as of June 30, 2017 December 31, 2016 Derivative Derivative Derivative Derivative Type Balance Sheet Location Assets Liabilities Assets Liabilities Commodity contracts Derivative assets/liabilities – current $ 2,672 $ — $ — $ 12,932 Commodity contracts Derivative assets/liabilities – noncurrent 584 90 — 14,437 $ 3,256 $ 90 $ — $ 27,369

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	The following table summarizes our property and equipment as of the dates presented: June 30, December 31, 2017 2016 Oil and gas properties: Proved $ 297,390 $ 251,083 Unproved 4,122 4,719 Total oil and gas properties 301,512 255,802 Other property and equipment 3,696 3,575 Total properties and equipment 305,208 259,377 Accumulated depreciation, depletion and amortization (32,747 ) (11,904 ) $ 272,461 $ 247,473

Additional Balance Sheet Deta28

Additional Balance Sheet Detail (Tables)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components of Selected Balance Sheet Accounts	The following table summarizes components of selected balance sheet accounts as of the dates presented: June 30, December 31, 2017 2016 Other current assets: Tubular inventory and well materials $ 2,100 $ 2,125 Prepaid expenses 1,000 903 $ 3,100 $ 3,028 Other assets: Deferred issuance costs of the Credit Facility $ 2,887 $ 2,785 Other 2,536 2,544 $ 5,423 $ 5,329 Accounts payable and accrued liabilities: Trade accounts payable $ 10,166 $ 9,825 Drilling costs 4,802 2,479 Royalties and revenue – related 33,231 26,116 Compensation – related 1,739 2,557 Interest 84 55 Reserve for bankruptcy claims 3,922 3,922 Other 5,319 4,743 $ 59,263 $ 49,697 Other liabilities: Asset retirement obligations ( “AROs”) $ 2,506 $ 2,459 Defined benefit pension obligations 972 1,025 Postretirement health care benefit obligations 525 488 Other 100 100 $ 4,103 $ 4,072

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables summarize the valuation of those assets and liabilities as of the dates presented: June 30, 2017 Fair Value Fair Value Measurement Classification Description Measurement Level 1 Level 2 Level 3 Assets: Commodity derivative assets – current $ 2,672 $ — $ 2,672 $ — Commodity derivative assets – noncurrent 584 — 584 — Liabilities: Commodity derivative liabilities – current $ — $ — $ — $ — Commodity derivative liabilities – noncurrent (90 ) — (90 ) — December 31, 2016 Fair Value Fair Value Measurement Classification Description Measurement Level 1 Level 2 Level 3 Liabilities: Commodity derivative liabilities – current $ (12,932 ) $ — $ (12,932 ) $ — Commodity derivative liabilities – noncurrent (14,437 ) — (14,437 ) —

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of Stockholders Equity	The following tables summarize the components of our shareholders ’ equity and the changes therein as of and for six months ended June 30, 2017 : December 31, All Other June 30, 2016 Net Income Changes 1 2017 Common stock $ 150 $ — $ — $ 150 Paid-in capital 190,621 — 1,738 192,359 Retained earnings (accumulated deficit) (5,296 ) 49,410 — 44,114 Accumulated other comprehensive income 73 — — 73 $ 185,548 $ 49,410 $ 1,738 $ 236,696 _______________________ 1 Includes equity-classified share-based compensation of $ 1.7 million and $ 0.1 million from the receipt in May 2017 of proceeds attributable to the rights offering in 2016 that had been held in escrow, net of costs to register our common stock.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Share-Based Compensation Expense	The following table summarizes our share-based compensation expense (benefit) recognized for the periods presented: Successor Predecessor Successor Predecessor Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Equity-classified awards 1 $ 848 $ 1,965 $ 1,694 $ 1,364 Liability-classified awards — (12 ) — (19 ) $ 848 $ 1,953 $ 1,694 $ 1,345

Interest Expense (Tables)

Interest Expense (Tables)	6 Months Ended
	Jun. 30, 2017
Banking and Thrift [Abstract]
Interest Expense Net Disclosure
Debt Instrument [Line Items]
Interest Expense	The following table summarizes the components of interest expense for the periods presented: Successor Predecessor Successor Predecessor Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Interest on borrowings and related fees 1 $ 515 $ 11,344 $ 905 $ 34,649 Amortization of debt issuance costs 2 800 20,920 988 22,189 Capitalized interest (41 ) (43 ) (81 ) (183 ) $ 1,274 $ 32,221 $ 1,812 $ 56,655 ___________________ 1 Absent the bankruptcy proceedings and the corresponding suspension of the accrual of interest on unsecured debt, we would have recorded total contractual interest expense of $ 23.5 million and $ 46.9 million for the three and six months ended June 30, 2016, including $ 5.4 million and $ 10.9 million attributable to the 7.25% Senior Notes due 2019 (“2019 Senior Notes”) and $ 16.5 million and $ 32.9 million attributable to the 8.5% Senior Notes due 2020 (together with the 2019 Senior Notes, the “Senior Notes”). 2 Includes a $0.6 million write-off in June 2017 attributable to a change in the composition of financial institutions comprising the Credit Facility’s bank group (see Note 7). Includes $ 20.5 million related to the accelerated write-off of unamortized debt issuance costs associated with the RBL and Senior Notes for the six months ended June 30, 2016.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Components of Calculation of Basic and Diluted Earnings Per Share	_______________________ 1 Dividends attributable to our Series A 6% Convertible Perpetual Preferred Stock and Series B 6% Convertible Perpetual Preferred Stock (together, the “Series A and B Preferred Stock”) were excluded from the computation of diluted loss per share for the three and six months ended June 30, 2016 , as their assumed conversion would have been anti-dilutive. 2 The number of dilutive securities for the three and six months ended June 30, 2017 , which is attributable to RSUs and PRSUs, was determined under the “treasury stock” method. For the six months ended June 30, 2016 , approximately 26.6 million of potentially dilutive securities, including the Series A and Series B Preferred Stock, stock options and restricted stock units, had the effect of being anti-dilutive and were excluded from the calculation of diluted loss per common share. The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings (loss) per share for the periods presented: Successor Predecessor Successor Predecessor Three Months Three Months Six Months Six Months Ended Ended Ended Ended June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Net income (loss) $ 21,329 $ (67,266 ) $ 49,410 $ (100,739 ) Less: Preferred stock dividends 1 — (2,820 ) — (5,972 ) Net income (loss) attributable to common shareholders – basic and diluted $ 21,329 $ (70,086 ) $ 49,410 $ (106,711 ) Weighted-average shares – basic 14,992 89,051 14,992 87,496 Effect of dilutive securities 2 58 — 105 — Weighted-average shares – diluted 15,050 89,051 15,097 87,496

Nature of Operations Nature of

Nature of Operations Nature of Operations (Details)	6 Months Ended
	Jun. 30, 2017
TEXAS | Eagle Ford Shale
Concentration Risk [Line Items]
Concentration risk, percentage (more than)	90.00%

Basis of Presentation (Details)

Basis of Presentation (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Immaterial Error Correction		5.3		5.3
Successor [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Basic (in dollars per share)	$ 1.42		$ 3.30
Diluted (in dollars per share)	$ 1.42		$ 3.27
Increase in Diluted and Basic Earnings Per Share [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Basic (in dollars per share)		$ 0.06		$ 0.06
Diluted (in dollars per share)		$ 0.06		$ 0.06

Basis of Presentation Subsequen

Basis of Presentation Subsequent Event (Details) $ in Millions	Jul. 31, 2017USD ($)
Subsequent Event [Member]
Subsequent Event [Line Items]
Acquisition Costs, Period Cost	$ 205

Bankruptcy Proceeding Bankrup37

Bankruptcy Proceeding Bankruptcy Proceeding (Details) $ in Thousands	May 12, 2016subsidiary	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Reorganizations [Abstract]
Number of Subsidiaries Filing Chapter 11 Bankruptcy | subsidiary	8
Bankruptcy Claims, amount reserved for outstanding claims | $		$ 3,922	$ 3,922

Summary of Accounts Receivable

Summary of Accounts Receivable (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Receivables [Abstract]
Customers	$ 22,920	$ 20,489
Joint interest partners	21,598	7,238
Other	670	3,789
Accounts Receivable, Gross, Current, Total	45,188	31,516
Less: Allowance for doubtful accounts	(2,381)	(2,421)
Accounts receivable, net of allowance for doubtful accounts	$ 42,807	$ 29,095

Accounts Receivable and Major39

Accounts Receivable and Major Customers - Additional Information (Detail) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)Customer	Jun. 30, 2016USD ($)Customer	Dec. 31, 2016USD ($)
Accounts Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage			81.00%
Accounts receivable, major customers			$ 16.7
Successor [Member] | Sales Revenue | Customer Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of major customers | Customer	1
Revenues, major customers	$ 64.6
Concentration risk, percentage	91.00%
Successor [Member] | Accounts Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	84.00%
Accounts receivable, major customers	$ 19.2
Predecessor [Member] | Sales Revenue | Customer Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of major customers | Customer		3
Revenues, major customers		$ 62.2
Concentration risk, percentage		93.00%
Predecessor [Member] | Sales Revenue | Customer Concentration Risk | Major Customer 1
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues, major customers		$ 32.1
Concentration risk, percentage		48.00%
Predecessor [Member] | Sales Revenue | Customer Concentration Risk | Major Customer 2
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues, major customers		$ 16.2
Concentration risk, percentage		24.00%
Predecessor [Member] | Sales Revenue | Customer Concentration Risk | Major Customer 3
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues, major customers		$ 13.9
Concentration risk, percentage		21.00%

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)Entity$ / bbl	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative assets	$ 90		$ 27,369
Commodity contracts
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative assets	$ 3,200
Number of derivative counterparties | Entity	2
Commodity contracts | Crude Oil
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Third-party quoted forward prices	West Texas Intermediate crude oil
Commodity contracts | Natural Gas
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Third-party quoted forward prices	NYMEX Henry Hub gas
Predecessor [Member]
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivatives settled to reduce outstanding debt		$ 51,979
Predecessor [Member] | Crude Oil
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative, Swap Type, Average Fixed Price | $ / bbl	49.07
Predecessor [Member] | March 2016 [Domain]
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivatives Settled		$ 63,000

Commodity Derivative Positions

Commodity Derivative Positions (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)bbl$ / bbl	Dec. 31, 2016USD ($)
Derivative Instruments Related to Oil and Gas Production [Line Items]
Derivative Liability	$ 90	$ 27,369
Settlement Agreement [Member]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Fair Value Asset	457,245
Fair Value Liability
Crude Oil | Third Quarter 2017 [Member]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Instrument	Swaps
Notional Volume, per day | bbl	4,408
Derivative, Swap Type, Average Fixed Price | $ / bbl	48.59
Fair Value Asset	$ 903,636
Fair Value Liability	$ 0
Crude Oil | Fourth Quarter 2017 [Member]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Instrument	Swaps
Notional Volume, per day | bbl	4,408
Derivative, Swap Type, Average Fixed Price | $ / bbl	48.59
Fair Value Asset	$ 591,129
Fair Value Liability	$ 0
Crude Oil | First Quarter 2018 [Member]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Instrument	Swaps
Notional Volume, per day | bbl	3,476
Derivative, Swap Type, Average Fixed Price | $ / bbl	49.10
Fair Value Asset	$ 419,761
Fair Value Liability	$ 0
Crude Oil | Second Quarter 2018 [Member]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Instrument	Swaps
Notional Volume, per day | bbl	3,476
Derivative, Swap Type, Average Fixed Price | $ / bbl	49.10
Fair Value Asset	$ 299,826
Fair Value Liability	$ 0
Crude Oil | Third Quarter 2018 [Member]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Instrument	Swaps
Notional Volume, per day | bbl	3,476
Derivative, Swap Type, Average Fixed Price | $ / bbl	49.10
Fair Value Asset	$ 193,534
Fair Value Liability	$ 0
Crude Oil | Fourth Quarter 2018 [Member]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Instrument	Swaps
Notional Volume, per day | bbl	3,476
Derivative, Swap Type, Average Fixed Price | $ / bbl	49.10
Fair Value Asset	$ 82,328
Fair Value Liability	$ 0
Crude Oil | First Quarter 2019 [Member]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Instrument	Swaps
Notional Volume, per day | bbl	2,916
Derivative, Swap Type, Average Fixed Price | $ / bbl	49.75
Fair Value Asset	$ 160,594
Fair Value Liability	$ 0
Crude Oil | Second Quarter 2019 [Member]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Instrument	Swaps
Notional Volume, per day | bbl	2,916
Derivative, Swap Type, Average Fixed Price | $ / bbl	49.75
Fair Value Asset	$ 88,824
Fair Value Liability	$ 0
Crude Oil | Third Quarter 2019 [Member]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Instrument	Swaps
Notional Volume, per day | bbl	2,916
Derivative, Swap Type, Average Fixed Price | $ / bbl	49.75
Fair Value Asset	$ 24,775
Fair Value Liability	$ 0
Crude Oil | Fourth Quarter 2019 [Member]
Derivative Instruments Related to Oil and Gas Production [Line Items]
Instrument	Swaps
Notional Volume, per day | bbl	2,916
Derivative, Swap Type, Average Fixed Price | $ / bbl	49.75
Fair Value Asset	$ 0
Fair Value Liability	$ 56,550

Impact of Derivative Activities

Impact of Derivative Activities on Condensed Consolidated Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Successor [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives	$ 11,061		$ 28,077
Predecessor [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives		$ (21,759)		$ (17,267)

Fair Value of Derivative Instru

Fair Value of Derivative Instruments on Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative assets, current	$ 2,672	$ 0
Derivative Asset, Noncurrent	584	0
Derivative assets	3,256	0
Commodity derivative liabilities – current	0	12,932
Derivative Liability, Noncurrent	90	14,437
Derivative Liability	90	27,369
Commodity contracts
Derivatives, Fair Value [Line Items]
Derivative Liability	3,200
Commodity contracts | Derivative assets/liabilities - current
Derivatives, Fair Value [Line Items]
Derivative assets, current	2,672	0
Commodity derivative liabilities – current	0	12,932
Commodity contracts | Noncurrent Derivative Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Noncurrent	584	0
Derivative Liability, Noncurrent	$ 90	$ 14,437

Summary of Property and Equipme

Summary of Property and Equipment (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)$ / bbl	Dec. 31, 2016USD ($)	Jun. 30, 2016$ / bbl
Property, Plant and Equipment [Abstract]
Proved Oil and Gas Property, Full Cost Method	$ 297,390	$ 251,083
Unproved Oil and Gas Property, Full Cost Method	4,122	4,719
Oil and Gas Property, Full Cost Method, Gross	301,512	255,802
Other property and equipment	3,696	3,575
Total properties and equipment	305,208	259,377
Accumulated depreciation, depletion and amortization	(32,747)	(11,904)
Property and equipment, net (successful efforts method)	272,461	247,473
Unproved Oil and Gas Property excluded	4,100	$ 4,700
Undeveloped Leasehold Costs Transferred	2,000
Capitalized Costs, Proved Properties	1,100
Interest Costs Capitalized	$ 100
Successor [Member]
Property, Plant and Equipment [Line Items]
Amortization Expense Per Physical Unit of Production | $ / bbl	11.74
Predecessor [Member]
Property, Plant and Equipment [Line Items]
Amortization Expense Per Physical Unit of Production | $ / bbl			10.02

Summary of Long-Term Debt (Deta

Summary of Long-Term Debt (Detail) - USD ($)	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 128,000,000
Revolving credit facility	$ 37,000,000		$ 25,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 200,000,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016
Debt Disclosure [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 128,000,000
Debt Issuance Costs, Line of Credit Arrangements, Gross	$ 1,100,000
Write off of Deferred Debt Issuance Cost	600,000
Long-term Line of Credit	$ 37,000,000		$ 25,000,000
Interest Coverage Ratio, Maximum	3
Current Ratio	1
Revolving Credit Facility
Debt Disclosure [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 200,000,000
Interest Rate at Period End	4.3289%
Revolving Credit Facility | Future Period [Member]
Debt Disclosure [Line Items]
Debt To E B I T D Ratio Maximum	4
Revolving Credit Facility | Future Period Two [Member]
Debt Disclosure [Line Items]
Debt To E B I T D Ratio Maximum	3.75
Revolving Credit Facility | Future Period Three [Member]
Debt Disclosure [Line Items]
Debt To E B I T D Ratio Maximum	3.50
Letter of Credit
Debt Disclosure [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.50%
Line of Credit [Member]
Debt Disclosure [Line Items]
Letters of Credit Outstanding, Amount	$ 800,000		$ 800,000
Line of Credit [Member] | Letter of Credit
Debt Disclosure [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000,000
Minimum [Member] | Revolving Credit Facility
Debt Disclosure [Line Items]
Interest rate option one, applicable margin rate over Adjusted LIBOR	2.00%
Interest rate option two, applicable margin rate	3.00%
Maximum [Member] | Revolving Credit Facility
Debt Disclosure [Line Items]
Interest rate option one, applicable margin rate over Adjusted LIBOR	3.00%
Interest rate option two, applicable margin rate	4.00%
Interest Payable One [Member] | Revolving Credit Facility
Debt Disclosure [Line Items]
Debt Instrument, Interest Payable Period	1 month
Interest Payable Two [Member] | Revolving Credit Facility
Debt Disclosure [Line Items]
Debt Instrument, Interest Payable Period	3 months
Interest Payable Three [Member] | Revolving Credit Facility
Debt Disclosure [Line Items]
Debt Instrument, Interest Payable Period	6 months

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Blended tax rate (as a percent)	35.52%
Federal statutory income tax rate (as a percent)	35.00%
Income taxes refund received (less than)		$ 0.1

Exit Activities (Detail)

Exit Activities (Detail) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016
Predecessor [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated		28	53
Severance and Termination Benefits	$ 700	$ 1,100
Liabilities Subject to Compromise, Early Contract Termination Fees		1,300
Payments for Restructuring		1,100
Restructuring Reserve, Accretion of Obligation		$ 317
Successor [Member]
Restructuring Cost and Reserve [Line Items]
Severance and Termination Adjustment	100
Restructuring Reserve, Accretion of Obligation	$ 0

Components of Selected Balance

Components of Selected Balance Sheet Accounts (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Other current assets:
Tubular inventory and well materials	$ 2,100	$ 2,125
Prepaid expenses	1,000	903
Other Assets, Current	3,100	3,028
Other assets:
Deferred issuance costs of the Revolver	2,887	2,785
Other	2,536	2,544
Other assets	5,423	5,329
Accounts payable and accrued liabilities:
Trade accounts payable	10,166	9,825
Drilling costs	4,802	2,479
Royalties and revenue – related	33,231	26,116
Compensation – related	1,739	2,557
Interest	84	55
Reserve for bankruptcy claims	3,922	3,922
Other	5,319	4,743
Accounts payable and accrued liabilities	59,263	49,697
Other liabilities:
Asset retirement obligations (“AROs”)	2,506	2,459
Defined benefit pension obligations	972	1,025
Postretirement health care benefit obligations	525	488
Other	100	100
Other liabilities	$ 4,103	$ 4,072

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets:
Derivative Asset, Current	$ 2,672	$ 0
Derivative Asset, Noncurrent	584	0
Liabilities:
Commodity derivative liabilities – current	0	12,932
Derivative Liability, Noncurrent	90	14,437
Fair Value, Measurements, Recurring | Commodity contracts
Assets:
Derivative Asset, Current	2,672
Derivative Asset, Noncurrent	584
Liabilities:
Commodity derivative liabilities – current	0	12,932
Derivative Liability, Noncurrent	90	14,437
Fair Value, Measurements, Recurring | Commodity contracts | Level 1
Assets:
Derivative Asset, Current	0
Derivative Asset, Noncurrent	0
Liabilities:
Commodity derivative liabilities – current	0	0
Derivative Liability, Noncurrent	0	0
Fair Value, Measurements, Recurring | Commodity contracts | Level 2
Assets:
Derivative Asset, Current	2,672
Derivative Asset, Noncurrent	584
Liabilities:
Commodity derivative liabilities – current	0	12,932
Derivative Liability, Noncurrent	90	14,437
Fair Value, Measurements, Recurring | Commodity contracts | Level 3
Assets:
Derivative Asset, Current	0
Derivative Asset, Noncurrent	0
Liabilities:
Commodity derivative liabilities – current	0	0
Derivative Liability, Noncurrent	$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)bbl
Commitments and Contingencies Disclosure [Line Items]
Long-term Purchase Commitment, Minimum Volume Required | bbl	8,000
Marketing Agreement	10
Asset Retirement Obligation	$ 2.5
Legal Reserve
Commitments and Contingencies Disclosure [Line Items]
Reserve established for contingency matters	0.1
Crude Oil Gathering And Transportation Services
Commitments and Contingencies Disclosure [Line Items]
Contractual obligation, balance of 2017	5
Contractual Obligation, Due in 2018	10.4
Contractual Obligation, Due in 2019	11.7
Contractual Obligation, Due 2020 through 2025	13
Contractual Obligation, Due 2026	7.4
Contractual Obligation, Due 2027 through 2030	3.8
Contractual Obligation, Due 2031	2.2
Contract Drilling [Member]
Commitments and Contingencies Disclosure [Line Items]
Contractual Obligation	$ 4.5

Shareholders' Equity Rollforwar

Shareholders' Equity Rollforward (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
As of beginning balance	$ 185,548
Net income (loss)	49,410
All Other Changes	1,738
As of ending balance	236,696
Share-based compensation	1,700
Proceeds Attributable to Rights Offering	100
Common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
As of beginning balance	150
As of ending balance	150
Paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
As of beginning balance	190,621
All Other Changes	1,738	[1]
As of ending balance	192,359
Retained earnings (accumulated deficit)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
As of beginning balance	(5,296)
Net income (loss)	49,410
As of ending balance	44,114
Accumulated other comprehensive income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
As of beginning balance	73
As of ending balance	$ 73
[1]	Includes equity-classified share-based compensation of $1.7 million and $0.1 million from the receipt in May 2017 of proceeds attributable to the rights offering in 2016 that had been held in escrow, net of costs to register our common stock

Summary of Share-Based Compensa

Summary of Share-Based Compensation Expense (Detail) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 31, 2017tranche$ / sharesshares	Jun. 30, 2017USD ($)shares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation (equity-classified)				$ (1,700)
Time Vested Restricted Stock Units [Domain]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares		256,400		256,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares				$ 51.50
Share-based Compensation Arrangements By Share-based Payment Award, Award Amortization Period				5 years
Performance Restricted Stock Units [Domain]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares	62,675	62,675		62,675
Share-based Compensation Arrangements By Share-based Payment Award, Award Amortization Period	5 years
Share-based Compensation Arrangements By Share-based Payment Award, Number Of Award Tranches | tranche	3
Share-based Compensation Arrangements By Share-based Payment Award, Performance Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum				1.49%
Performance Restricted Stock Units [Domain] | Minimum [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares, Expected to Vest, Percentage	0.00%
Performance Restricted Stock Units [Domain] | Maximum [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares, Expected to Vest, Percentage	200.00%
Performance Restricted Stock Units [Domain] | Year 1 [Domain]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 65.28
Performance Restricted Stock Units [Domain] | Year 2
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	61.74
Performance Restricted Stock Units [Domain] | Year 3
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 61.74
Time Vested Restricted Stock Units - Employees [Domain] [Domain]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares		148,837		148,837
Employees and Directors [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares		749,600		749,600
Predecessor [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Other Stock Based Compensation Expense			$ 1,965		$ 1,364
Share-based compensation (equity-classified)					(1,364)
Allocated Share-based Compensation Expense			1,953		1,345
Defined Contribution Plan, Cost			200		300
Predecessor [Member] | Other Pension, Postretirement and Supplemental Plans [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Pension and Other Postretirement Benefits Cost (Reversal of Cost)			100		100
Predecessor [Member] | Liability-classified awards
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation (equity-classified)			$ (12)		$ (19)
Successor [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Other Stock Based Compensation Expense		$ 848		$ 1,694
Share-based compensation (equity-classified)				(1,694)
Allocated Share-based Compensation Expense		848		1,694
Defined Contribution Plan, Cost		100		200
Successor [Member] | Other Pension, Postretirement and Supplemental Plans [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Pension and Other Postretirement Benefits Cost (Reversal of Cost)		100		100
Successor [Member] | Liability-classified awards
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation (equity-classified)		$ 0		$ 0

Interest Expense Components of

Interest Expense Components of Interest Expense (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Components of Interest Expense [Line Items]
Write off of Deferred Debt Issuance Cost				$ 600
Successor [Member]
Components of Interest Expense [Line Items]
Interest Expense, Borrowings		$ 515		905
Amortization of Debt Issuance Costs	[1]	800		988
Interest Paid, Capitalized		(41)		(81)
Interest Expense		$ 1,274		1,812
Write off of Deferred Debt Issuance Cost				$ 600
Predecessor [Member]
Components of Interest Expense [Line Items]
Interest Expense, Borrowings	[2]		$ 11,344		$ 34,649
Amortization of Debt Issuance Costs	[1]		20,920		22,189
Interest Paid, Capitalized			(43)		(183)
Interest Expense			32,221		56,655
Contractual Interest Expense on Prepetition Liabilities Not Recognized in Statement of Operations			23,500		46,900
Debtor Reorganization Items, Write-off of Debt Issuance Costs and Debt Discounts					20,500
Senior Notes Due 2019 [Domain] | Predecessor [Member]
Components of Interest Expense [Line Items]
Contractual Interest Expense on Prepetition Liabilities Not Recognized in Statement of Operations			5,400		10,900
Senior Notes Due 2020 [Domain] | Predecessor [Member]
Components of Interest Expense [Line Items]
Contractual Interest Expense on Prepetition Liabilities Not Recognized in Statement of Operations			$ 16,500		$ 32,900
[1]	2 Includes a $0.6 million write-off in June 2017 attributable to a change in the composition of financial institutions comprising the Credit Facility’s bank group (see Note 7). Includes $20.5 million related to the accelerated write-off of unamortized debt issuance costs associated with the RBL and Senior Notes for the six months ended June 30, 2016.
[2]	1 Absent the bankruptcy proceedings and the corresponding suspension of the accrual of interest on unsecured debt, we would have recorded total contractual interest expense of $23.5 million and $46.9 million for the three and six months ended June 30, 2016, including $5.4 million and $10.9 million attributable to the 7.25% Senior Notes due 2019 (“2019 Senior Notes”) and $16.5 million and $32.9 million attributable to the 8.5% Senior Notes due 2020 (together with the 2019 Senior Notes, the “Senior Notes”).

Components of Calculation of Ba

Components of Calculation of Basic and Diluted Earnings Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)			$ 49,410
Successor [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	$ 21,329		49,410
Less: Preferred stock dividends	0		0
Net loss attributable to common shareholders, Diluted	$ 21,329		$ 49,410
Weighted-average shares – basic	14,992		14,992
Effect of dilutive securities	58		105
Weighted-average shares – diluted	15,050		15,097
Predecessor [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)		$ (67,266)		$ (100,739)
Less: Preferred stock dividends		(2,820)		(5,972)
Net loss attributable to common shareholders, Diluted		$ (70,086)		$ (106,711)
Weighted-average shares – basic		89,051		87,496
Effect of dilutive securities		0		0
Weighted-average shares – diluted		89,051		87,496
Potentially dilutive securities with the effect of being anti-dilutive excluded from the calculation of diluted earnings per common share				26,600
Predecessor [Member] | Series A Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Perpetual Preferred Stock, dividend rate (as a percent)				6.00%
Predecessor [Member] | Series B Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Perpetual Preferred Stock, dividend rate (as a percent)				6.00%