PDC Energy (PDCE) 10-Q 8 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document Document - shares	6 Months Ended
	Jun. 30, 2017	Jul. 20, 2017
Entity Information [Line Items]
Entity Registrant Name	PDC ENERGY, INC.
Entity Central Index Key	77,877
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		65,865,441

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 202,291	$ 244,100
Accounts receivable, net	135,203	143,392
Fair value of derivatives	52,105	8,791
Prepaid expenses and other current assets	6,619	3,542
Total current assets	396,218	399,825
Properties and equipment, net	4,165,572	4,008,266
Fair value of derivatives	16,397	2,386
Goodwill	56,331	62,041
Other assets	22,410	13,324
Total Assets	4,656,928	4,485,842
Current liabilities:
Accounts payable	152,492	66,322
Production tax liability	35,296	24,767
Fair value of derivatives	10,138	53,595
Funds held for distribution	86,846	71,339
Accrued interest payable	15,955	15,930
Other accrued expenses	29,939	38,625
Total current liabilities	330,666	270,578
Long-term debt	1,049,004	1,043,954
Deferred income tax	452,028	400,867
Asset retirement obligation	77,867	82,612
Fair value of derivatives	2,311	27,595
Other liabilities	30,610	37,482
Total liabilities	1,942,486	1,863,088
Commitments and contingent liabilities
Stockholders' Equity:
Common shares - par value $0.01 per share, 150,000,000 authorized, 65,797,748 and 65,704,568 issued as of March 31, 2017 and December 31, 2016, respectively	659	657
Additional paid-in capital	2,495,940	2,489,557
Retained earnings	221,604	134,208
Treasury shares - at cost, 34,433 and 28,763 as of March 31, 2017 and December 31, 2016, respectively	(3,761)	(1,668)
Total stockholders' equity	2,714,442	2,622,754
Total Liabilities and Stockholders' Equity	$ 4,656,928	$ 4,485,842

Balance Sheet Parenthetical (Pa

Balance Sheet Parenthetical (Parentheticals) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	65,927,104	65,704,568
Preferred stock, par value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	0	0
Treasury shares, at cost	64,024	28,763

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Crude oil, natural gas and NGLs sales	$ 213,602,000	$ 110,841,000	$ 403,294,000	$ 186,208,000
Commodity price risk management gain, net of settlements	57,932,000	(92,801,000)	138,636,000	(81,745,000)
Other income	3,624,000	2,057,000	6,935,000	6,465,000
Total revenues	275,158,000	20,097,000	548,865,000	110,928,000
Costs, expenses and other:
Lease operating expenses	20,028,000	13,675,000	39,817,000	29,005,000
Production taxes	15,042,000	6,043,000	27,441,000	10,114,000
Transportation, gathering and processing expenses	6,488,000	4,465,000	12,390,000	8,506,000
General and administrative expense	29,531,000	23,579,000	55,846,000	46,358,000
Exploration, geologic, and geophysical expense	1,033,000	237,000	1,987,000	447,000
Depreciation, depletion and amortization	126,013,000	107,014,000	235,329,000	204,402,000
Results of Operations, Impairment of Oil and Gas Properties	27,566,000	4,170,000	29,759,000	5,171,000
Accretion of asset retirement obligation	1,666,000	1,811,000	3,434,000	3,623,000
(Gain) Loss on Disposition of Oil and Gas Property	(532,000)	260,000	(692,000)	176,000
Provision for uncollectible notes receivable	(40,203,000)	0	(40,203,000)	44,738,000
Other expenses	3,890,000	2,125,000	7,418,000	4,703,000
Total cost, expenses and other	190,522,000	163,379,000	372,526,000	357,243,000
Income (loss) from operations	84,636,000	(143,282,000)	176,339,000	(246,315,000)
Interest expense	(19,617,000)	(10,672,000)	(39,084,000)	(22,566,000)
Interest income	768,000	177,000	1,008,000	1,735,000
Income (loss) before income taxes	65,787,000	(153,777,000)	138,263,000	(267,146,000)
Income tax (expense) benefit	(24,537,000)	58,327,000	(50,867,000)	100,166,000
Net income (loss)	$ 41,250,000	$ (95,450,000)	$ 87,396,000	$ (166,980,000)
Earnings per share:
Basic	$ 0.63	$ (2.04)	$ 1.33	$ (3.78)
Diluted	$ 0.62	$ (2.04)	$ 1.32	$ (3.78)
Weighted-average common shares outstanding
Basic	65,859	46,742	65,804	44,175
Diluted	66,019	46,742	66,066	44,175

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Net income (loss)	$ 87,396	$ (166,980)
Net loss	87,396	(166,980)
Adjustments to net income (loss) to reconcile to net cash provided by operating activities:
Net change in fair value of unsettled derivatives	(126,070)	201,825
Depreciation, depletion and amortization	235,329	204,402
Impairment of properties and equipment	29,759	5,171
Provision for uncollectible notes receivable	(40,203)	44,738
Accretion of asset retirement obligation	3,434	3,623
Non-cash stock-based compensation	9,826	11,126
(Gain) loss on sale of properties and equipment	(692)	176
Amortization of debt discount and issuance costs	6,399	3,077
Deferred income taxes	50,767	(102,319)
Other	670	(1,287)
Changes in assets and liabilities	6,582	(5,754)
Net cash from operating activities	263,197	197,798
Cash flows from investing activities:
Capital expenditures for development of crude oil and natural gas properties	(334,406)	(234,677)
Capital expenditures for other properties and equipment	(2,299)	(1,030)
Acquisition of crude oil and natural gas properties, including final settlement adjustments	5,372	0
Proceeds from sale of properties and equipment	1,293	4,903
Sale of promissory note	40,203	0
Restricted cash	(9,250)	0
Sale of short-term investments	49,890	0
Purchases of short-term investments	(49,890)	0
Net cash from investing activities	(299,087)	(230,804)
Cash flows from financing activities:
Proceeds from issuance of equity, net of issuance costs	0	296,575
Proceeds from revolving credit facility	0	85,000
Repayment of revolving credit facility	0	(122,000)
Redemption of convertible notes	0	(115,000)
Treasury Stock, Value, Acquired, Cost Method	(5,274)	(4,055)
Other	(645)	735
Net cash from financing activities	(5,919)	141,255
Net change in cash and cash equivalents	(41,809)	108,249
Cash and cash equivalents, beginning of period	244,100	850
Cash and cash equivalents, end of period	202,291	109,099
Cash payments (receipts) for:
Interest, net of capitalized interest	32,647	19,988
Income taxes	(39)	167
Non-cash investing and financing activities:
Change in accounts payable related to purchases of properties and equipment	81,891	(28,999)
Change in asset retirement obligation, with a corresponding change to crude oil and natural gas properties, net of disposals	2,415	843
Purchase of properties and equipment under capital leases	$ 2,160	$ 1,074

Consolidated Statement of Equit

Consolidated Statement of Equity (Statement) - USD ($)	Total	Parent [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Shares, Issued			65,704,568			(28,763)
Shares issued pursuant to sale of equity			0
Issuance of stock awards, net of forfeitures			269,358
Stock Issued During Period, Value, Acquisitions			0
Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract]
Purchase of treasury shares						(79,381)
Issuance of treasury shares			(46,822)			46,822
Non-employee directors' deferred compensation plan						(2,702)
Stockholders' Equity Beginning, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2016		$ 2,622,754,000	$ 657,000	$ 2,489,557,000	$ 134,208,000	$ (1,668,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued pursuant to sale of equity		(7,000)	0	(7,000)
Purchase of treasury shares	$ (5,274,000)	(5,274,000)				(5,274,000)
Issuance of stock awards, net of forfeitures		0	0	0
Share-based Compensation expense	9,826,000	9,826,000		9,826,000
Issuance of treasury shares		2,000	2,000	(3,350,000)		3,350,000
Non-employee directors' deferred compensation plan		(171,000)		(2,000)		(169,000)
Net income (Loss) attributable to shareholders	$ 87,396,000	87,396,000			87,396,000
Stock Issued During Period, Value, Acquisitions		(82,000)	0	(82,000)
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature		(2,000)		(2,000)
Stockholders' Equity Ending, Including Portion Attributable to Noncontrolling Interest at Jun. 30, 2017		$ 2,714,442,000	$ 659,000	$ 2,495,940,000	$ 221,604,000	$ (3,761,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Shares, Issued			65,927,104			(64,024)

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2017
NATURE OF OPERATIONS AND BASIS OF PRESENTATION [Abstract]
Nature of Operations	NATURE OF OPERATIONS AND BASIS OF PRESENTATION PDC Energy, Inc. ("PDC", the "Company," "we," "us," or "our") is a domestic independent exploration and production company that produces, develops, and explores for crude oil, natural gas, and NGLs, with primary operations in the Wattenberg Field in Colorado and, beginning in December 2016, the Delaware Basin in Reeves and Culberson Counties, Texas. We also have operations in the Utica Shale in Southeastern Ohio. Subsequent to June 30, 2017, as part of plans to divest the Utica Shale properties, we engaged an investment banking group to assist in marketing them for sale; therefore, these properties will be classified as held-for-sale upon meeting the criteria for such classification in the third quarter of 2017. Our operations in the Wattenberg Field are focused in the horizontal Niobrara and Codell plays and our Delaware Basin operations are currently focused in the Wolfcamp zones. As of June 30, 2017 , we owned an interest in approximately 2,900 gross productive wells. We are engaged in two operating segments: our oil and gas exploration and production segment and our gas marketing segment. Beginning in 2017, our gas marketing segment does not meet the quantitative thresholds to require disclosure as a separate reportable segment. All of our material operations are attributable to our exploration and production business; therefore, all of our operations are presented as a single segment for all periods presented. The accompanying unaudited condensed consolidated financial statements include the accounts of PDC, our wholly-owned subsidiaries, and our proportionate share of our two affiliated partnerships. Pursuant to the proportionate consolidation method, our accompanying condensed consolidated financial statements include our pro rata share of assets, liabilities, revenues and expenses of the entities which we proportionately consolidate. All material intercompany accounts and transactions have been eliminated in consolidation. In our opinion, the accompanying condensed consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of our financial statements for interim periods in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, pursuant to such rules and regulations, certain notes and other financial information included in audited financial statements have been condensed or omitted. The December 31, 2016 condensed consolidated balance sheet data was derived from audited statements, but does not include all disclosures required by U.S. GAAP. The information presented in this Quarterly Report on Form 10-Q should be read in conjunction with our audited consolidated financial statements and notes thereto included in our 2016 Form 10-K. Our results of operations and cash flows for the three and six months ended June 30, 2017 are not necessarily indicative of the results to be expected for the full year or any other future period. Certain immaterial reclassifications have been made to our prior period statement of operations to conform to the current period presentation. The reclassifications had no impact on previously reported cash flows, net earnings, earnings per share or stockholders' equity.

Recent Accounting Standards

Recent Accounting Standards	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Recently Issued Accounting Standards In May 2014, the FASB and the International Accounting Standards Board issued their converged standard on revenue recognition that provides a single, comprehensive model that entities will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The standard outlines a five-step approach to apply the underlying principle: (1) identify the contract with the customer, (2) identify the separate performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to separate performance obligations, and (5) recognize revenue when or as each performance obligation is satisfied. In March 2016, the FASB issued an update to the standard intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations when recognizing revenue. In December 2016, the FASB issued technical corrections and improvements to the standard. The revenue standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The revenue standard can be adopted under the full retrospective method or simplified transition method. Entities are permitted to adopt the revenue standard early, beginning with annual reporting periods after December 15, 2016. We are in the process of assessing potential impacts of the new standard on our existing revenue recognition criteria, as well as on related revenue recognition disclosures. In February 2016, the FASB issued an accounting update aimed at increasing the transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet and disclosing key information about related leasing arrangements. For leases with terms of more than 12 months, the accounting update requires lessees to recognize a right-of-use asset and lease liability for its right to use the underlying asset and the corresponding lease obligation. Both the lease asset and liability will initially be measured at the present value of the future minimum lease payments over the lease term. Subsequent measurement, including the presentation of expenses and cash flows, will depend upon the classification of the lease as either a finance or operating lease. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those years, with early adoption permitted, and is to be applied as of the beginning of the earliest period presented using a modified retrospective approach. We are in the process of assessing the impact these changes may have on our consolidated financial statements. In August 2016, the FASB issued an accounting update on statements of cash flows to address diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. We are currently evaluating the impact these changes may have on our consolidated financial statements. In November 2016, the FASB issued an accounting update on statements of cash flows to address diversity in practice in the classification and presentation of changes in restricted cash. The accounting update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash or restricted cash equivalents should be included with cash and cash equivalents when reconciling beginning-of-period and end-of-period amounts shown on the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. We are currently evaluating the impact these changes may have on our consolidated financial statements. In January 2017, the FASB issued an accounting update to simplify the subsequent measurement of goodwill. The update eliminates the two-step process that required identification of potential impairment and a separate measure of actual impairment. The annual and/or interim assessments are still required to be completed. The guidance is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. We elected to early adopt this standard in the second quarter of 2017 and will implement the new guidance accordingly in performing impairment testing in 2017. Our annual evaluation of goodwill for impairment is expected to occur in the fourth quarter of 2017, at which time we will apply this accounting update and the impact can be determined. In May 2017, the FASB issued an accounting update clarifying when to account for a change to the terms or conditions of a share-based payment award as a modification. The guidance is effective for fiscal years beginning on or after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. Adoption of this standard is not expected to have a significant impact on our condensed consolidated financial statements.

Business Combination Business C

Business Combination Business Combinations (Notes)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	BUSINESS COMBINATION Delaware Basin Acquisition. On December 6, 2016, we closed on an acquisition which has been accounted for as a business combination. The transaction was for the purchase of approximately 57,900 net acres, approximately 30 completed and producing wells and related midstream infrastructure in Reeves and Culberson Counties, Texas, for an aggregate consideration to the sellers of approximately $1.64 billion , after preliminary post-closing adjustments, comprised of approximately $946.0 million in cash, including the payment of $40.0 million of debt of the seller at closing and other purchase price adjustments, and 9.4 million shares of our common stock valued at approximately $690.7 million at the time the acquisition closed. The estimated fair value of assets acquired and liabilities assumed in the acquisition presented below are preliminary and subject to customary additional post-closing adjustments as more detailed analysis associated with the acquired properties is completed. The final settlement statement has been agreed upon with the sellers; however, we are in the process of finalizing the fair values of the assets acquired and liabilities assumed and expect to keep the transaction open through the third quarter of 2017 to ensure that any final allocation adjustments associated with the period through final settlement are appropriately reflected in the final purchase price allocation. The most significant item to be completed is the allocation of the per acre values across the acquisition. There were a significant number of leases acquired with complex lease terms and evaluation of these terms may impact the manner in which the purchase price allocation across the acquired acreage is finalized based upon lease expiration timing. We expect that the completion of this process will adjust our final determination of the value of goodwill. The details of the estimated purchase price and the preliminary allocation of the purchase price for the transaction, which reflects certain post-closing adjustments, are presented below (in thousands): June 30, 2017 Acquisition costs: Cash, net of cash acquired $ 905,962 Retirement of seller's debt 40,000 Total cash consideration 945,962 Common stock, 9.4 million shares 690,702 Other purchase price adjustments 1,025 Total acquisition costs $ 1,637,689 Recognized amounts of identifiable assets acquired and liabilities assumed: Assets acquired: Current assets $ 6,561 Crude oil and natural gas properties - proved 216,000 Crude oil and natural gas properties - unproved 1,721,334 Infrastructure, pipeline, and other 33,695 Construction in progress 12,148 Goodwill 56,331 Total assets acquired 2,046,069 Liabilities assumed: Current liabilities (23,844 ) Asset retirement obligations (4,248 ) Deferred tax liabilities, net (380,288 ) Total liabilities assumed (408,380 ) Total identifiable net assets acquired $ 1,637,689 The fair value measurements of assets acquired and liabilities assumed are based on inputs that are not observable in the market, and therefore represent Level 3 inputs. The fair values of crude oil and natural gas properties and asset retirement obligations were measured using valuation techniques that convert future cash flows to a single discounted amount. Significant inputs to the valuation of crude oil and natural gas properties include estimates of reserves, future operating and development costs, future commodity prices, estimated future cash flows, lease terms and expirations, and a market-based weighted-average cost of capital rate. These inputs require significant judgments and estimates by management at the time of the valuation and are the most sensitive and subject to change. This acquisition was accounted for under the acquisition method. Accordingly, we conducted assessments of net assets acquired and recognized amounts for identifiable assets acquired and liabilities assumed at their estimated acquisition date fair values, while transaction and integration costs associated with the acquisition were expensed as incurred. Goodwill. Goodwill is calculated as the excess of the purchase price over the fair value of net assets acquired and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Among the factors that contributed to a purchase price in excess of the fair value of the net tangible and intangible assets acquired were the acquisition of an element of a workforce and the expected value from operations of the Delaware Basin acquisition to be derived in the future. The amount of goodwill that was recorded on a preliminary basis related to the Delaware Basin acquisition has decreased as compared to the initial estimated amount recorded as of December 31, 2016, due to customary purchase price allocations, primarily related to a refund from the sellers in connection with a revised valuation of certain acquired leases and the retirement of estimated environmental remediation liabilities. Such amounts will be finalized with final purchase accounting, as described above. Any value assigned to goodwill is not expected to be deductible for income tax purposes. The following table presents the changes in goodwill: Amount (in thousands) Balance at December 31, 2016 $ 62,041 Purchase price adjustments, net of tax (5,710 ) Balance at June 30, 2017 $ 56,331 With the creation of goodwill from this transaction, we will perform our evaluation of goodwill for impairment annually or when a triggering event is deemed to have occurred. We evaluate goodwill for impairment by either performing a qualitative evaluation or a quantitative test, which involves comparing the estimated fair value to the carrying value. In either case, the valuation of goodwill will be a significant estimate as such methods incorporate forward-looking assumptions and estimates.

Properties and Equipment

Properties and Equipment	6 Months Ended
	Jun. 30, 2017
Oil and Gas Property [Abstract]
Property, Plant and Equipment Disclosure	PROPERTIES AND EQUIPMENT The following table presents the components of properties and equipment, net of accumulated depreciation, depletion, and amortization ("DD&A"): June 30, 2017 December 31, 2016 (in thousands) Properties and equipment, net: Crude oil and natural gas properties Proved $ 3,842,942 $ 3,499,718 Unproved 1,841,589 1,874,671 Total crude oil and natural gas properties 5,684,531 5,374,389 Infrastructure, pipeline, and other 94,654 62,093 Land and buildings 15,274 12,165 Construction in progress 171,600 122,591 Properties and equipment, at cost 5,966,059 5,571,238 Accumulated DD&A (1,800,487 ) (1,562,972 ) Properties and equipment, net $ 4,165,572 $ 4,008,266 The following table presents impairment charges recorded for crude oil and natural gas properties: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Impairment of unproved properties $ 27,463 $ 1,084 $ 29,565 $ 2,053 Amortization of individually insignificant unproved properties 103 54 194 86 Impairment of crude oil and natural gas properties 27,566 1,138 29,759 2,139 Land and buildings — 3,032 — 3,032 Total impairment of properties and equipment $ 27,566 $ 4,170 $ 29,759 $ 5,171 During the three months ended June 30, 2017, we impaired certain unproved Delaware Basin leasehold positions totaling $27.0 million that expired during the three months ending June 30, 2017, or are projected to expire between June 30, 2017 and December 31, 2017. Subsequent to closing the acquisitions in the Delaware Basin, it was determined that development of certain acreage tracts would not meet our internal expectations for acceptable rates of return due to a combination of weakening commodity prices; higher per well development and operational costs; and updated technical analysis. As a result, we allowed or expect to allow certain acreage to expire, and in other circumstances we were unable to obtain necessary lease term extensions.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2017
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	COMMODITY DERIVATIVE FINANCIAL INSTRUMENTS Our results of operations and operating cash flows are affected by changes in market prices for crude oil, natural gas, and NGLs. To manage a portion of our exposure to price volatility from producing crude oil, natural gas, and propane, which is an element of our NGLs, we enter into commodity derivative contracts to protect against price declines in future periods. While we structure these commodity derivatives to reduce our exposure to decreases in commodity prices, they also limit the benefit we might otherwise receive from price increases. We believe our commodity derivative instruments continue to be effective in achieving the risk management objectives for which they were intended. As of June 30, 2017 , we had derivative instruments, which were comprised of collars, fixed-price swaps, and basis protection swaps, in place for a portion of our anticipated 2017 and 2018 production for a total of 12,896 MBbls of crude oil, 82,030 BBtu of natural gas, and 643 MBbls of propane. Our commodity derivative contracts have been entered into at no cost to us as we hedge our anticipated production at the then-prevailing commodity market prices, without adjustment for premium or discount. We have not elected to designate any of our derivative instruments as cash flow hedges, and therefore these instruments do not qualify for hedge accounting. Accordingly, changes in the fair value of our derivative instruments are recorded in the condensed consolidated statements of operations. The following table presents the balance sheet location and fair value amounts of our derivative instruments on the condensed consolidated balance sheets: Fair Value Derivative instruments: Condensed consolidated balance sheet line item June 30, 2017 December 31, 2016 (in thousands) Derivative assets: Current Commodity derivative contracts Fair value of derivatives $ 49,540 $ 8,490 Basis protection derivative contracts Fair value of derivatives 2,565 301 52,105 8,791 Non-current Commodity derivative contracts Fair value of derivatives 15,051 1,123 Basis protection derivative contracts Fair value of derivatives 1,346 1,263 16,397 2,386 Total derivative assets $ 68,502 $ 11,177 Derivative liabilities: Current Commodity derivative contracts Fair value of derivatives $ 9,943 $ 53,565 Basis protection derivative contracts Fair value of derivatives 195 30 10,138 53,595 Non-current Commodity derivative contracts Fair value of derivatives 2,311 27,595 2,311 27,595 Total derivative liabilities $ 12,449 $ 81,190 The following table presents the impact of our derivative instruments on our condensed consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, Condensed consolidated statement of operations line item 2017 2016 2017 2016 (in thousands) Commodity price risk management gain, net Net settlements $ 12,015 $ 53,301 $ 12,566 $ 120,132 Net change in fair value of unsettled derivatives 45,917 (146,102 ) 126,070 (201,877 ) Total commodity price risk management gain, net $ 57,932 $ (92,801 ) $ 138,636 $ (81,745 ) Net settlements of commodity derivatives decreased for the three and six months ended June 30, 2017 as compared to the three and six months ended June 30, 2016 . We entered into agreements for the derivative instruments that settled throughout 2016 prior to commodity prices becoming depressed in late 2014. Substantially all of these higher-value agreements settled by the end of 2016. Net settlements for the three and six months ended June 30, 2017 reflect derivative instruments entered into since 2015, which more closely approximate recent realized prices. Based upon the forward strip pricing at June 30, 2017 , we expect that settlements will continue to be substantially lower in 2017 on a relative basis as compared to those in 2016. All of our financial derivative agreements contain master netting provisions that provide for the net settlement of all contracts through a single payment in the event of early termination. We have elected not to offset the fair value positions recorded on our condensed consolidated balance sheets. The following table reflects the impact of netting agreements on gross derivative assets and liabilities: As of June 30, 2017 Derivative instruments, recorded in condensed consolidated balance sheet, gross Effect of master netting agreements Derivative instruments, net (in thousands) Asset derivatives: Derivative instruments, at fair value $ 68,502 $ (10,974 ) $ 57,528 Liability derivatives: Derivative instruments, at fair value $ 12,449 $ (10,974 ) $ 1,475 As of December 31, 2016 Derivative instruments, recorded in condensed consolidated balance sheet, gross Effect of master netting agreements Derivative instruments, net (in thousands) Asset derivatives: Derivative instruments, at fair value $ 11,177 $ (10,930 ) $ 247 Liability derivatives: Derivative instruments, at fair value $ 81,190 $ (10,930 ) $ 70,260

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value, Measurement Inputs, Disclosure	FAIR VALUE OF FINANCIAL INSTRUMENTS Determination of Fair Value Our fair value measurements are estimated pursuant to a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date, giving the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability, and may affect the valuation of the assets and liabilities and their placement within the fair value hierarchy levels. The three levels of inputs that may be used to measure fair value are defined as: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived from observable market data by correlation or other means. Level 3 – Unobservable inputs for the asset or liability, including situations where there is little, if any, market activity. Derivative Financial Instruments We measure the fair value of our derivative instruments based upon a pricing model that utilizes market-based inputs, including, but not limited to, the contractual price of the underlying position, current market prices, crude oil and natural gas forward curves, discount rates such as the LIBOR curve for a similar duration of each outstanding position, volatility factors, and nonperformance risk. Nonperformance risk considers the effect of our credit standing on the fair value of derivative liabilities and the effect of our counterparties' credit standings on the fair value of derivative assets. Both inputs to the model are based on published credit default swap rates and the duration of each outstanding derivative position. We validate our fair value measurement through the review of counterparty statements and other supporting documentation, determination that the source of the inputs is valid, corroboration of the original source of inputs through access to multiple quotes, if available, or other information, and monitoring changes in valuation methods and assumptions. While we use common industry practices to develop our valuation techniques and believe our valuation method is appropriate and consistent with those used by other market participants, changes in our pricing methodologies or the underlying assumptions could result in significantly different fair values. Our crude oil and natural gas fixed-price swaps are included in Level 2. Our collars, physical sales, and propane fixed-price swaps are included in Level 3. Our basis swaps are included in Level 2 and Level 3. The following table presents, for each applicable level within the fair value hierarchy, our derivative assets and liabilities, including both current and non-current portions, measured at fair value on a recurring basis: June 30, 2017 December 31, 2016 Significant Other Significant Total Significant Other Significant Total (in thousands) Assets: Total assets $ 58,226 $ 10,276 $ 68,502 $ 6,350 $ 4,827 $ 11,177 Total liabilities (10,792 ) (1,657 ) (12,449 ) (66,789 ) (14,401 ) (81,190 ) Net asset (liability) $ 47,434 $ 8,619 $ 56,053 $ (60,439 ) $ (9,574 ) $ (70,013 ) The following table presents a reconciliation of our Level 3 assets measured at fair value: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Fair value of Level 3 instruments, net asset (liability) beginning of period $ 2,316 $ 73,195 $ (9,574 ) $ 91,288 Changes in fair value included in condensed consolidated statement of operations line item: Commodity price risk management gain (loss), net 9,262 (26,422 ) 22,622 (20,257 ) Settlements included in condensed consolidated statement of operations line items: Commodity price risk management gain ( loss) , net (2,959 ) (19,398 ) (4,429 ) (43,656 ) Fair value of Level 3 instruments, net asset end of period $ 8,619 $ 27,375 $ 8,619 $ 27,375 Net change in fair value of Level 3 unsettled derivatives included in condensed consolidated statement of operations line item: Commodity price risk management gain ( loss) , net $ 8,161 $ (18,210 ) $ 17,194 $ (13,105 ) The significant unobservable input used in the fair value measurement of our derivative contracts is the implied volatility curve, which is provided by a third-party vendor. A significant increase or decrease in the implied volatility, in isolation, would have a directionally similar effect resulting in a significantly higher or lower fair value measurement of our Level 3 derivative contracts. There has been no change in the methodology we apply to measure the fair value of our Level 3 derivative contracts during the periods covered by this report. Non-Derivative Financial Assets and Liabilities The carrying value of the financial instruments included in current assets and current liabilities approximate fair value due to the short-term maturities of these instruments. We utilize fair value on a nonrecurring basis to review our crude oil and natural gas properties and goodwill for possible impairment when events and circumstances indicate a possible decline in the recoverability of the carrying value of such assets. The fair value of the properties is determined based upon estimated future discounted cash flow, a Level 3 input, using estimated production and prices at which we reasonably expect the crude oil and natural gas will be sold. The fair value of the goodwill is determined using either a qualitative method or a quantitative method, both of which utilize market data, a Level 2 input, in the derivation of the value estimation. The portion of our long-term debt related to our revolving credit facility approximates fair value due to the variable nature of related interest rates. We have not elected to account for the portion of our debt related to our senior notes under the fair value option; however, we have determined an estimate of the fair values based on measurements of trading activity and broker and/or dealer quotes, respectively, which are published market prices, and therefore are Level 2 inputs. The table below presents these estimates of the fair value of the portion of our long-term debt related to our senior notes and convertible notes as of June 30, 2017 . Estimated Fair Value Percent of Par (in millions) Senior notes: 2021 Convertible Notes $ 180.8 90.4 % 2022 Senior Notes 520.6 104.1 % 2024 Senior Notes 406.0 101.5 % The carrying value of our capital lease obligations approximates fair value due to the variable nature of the imputed interest rates and the duration of the related vehicle lease. Concentration of Risk Derivative Counterparties. A portion of our liquidity relates to commodity derivative instruments that enable us to manage a portion of our exposure to price volatility from producing crude oil and natural gas. These arrangements expose us to credit risk of nonperformance by our counterparties. We primarily use financial institutions who are also major lenders under our revolving credit facility as counterparties to our commodity derivative contracts. An insignificant portion of our commodity derivative instruments may be with other counterparties. To date, we have had no derivative counterparty default losses. We have evaluated the credit risk of our derivative assets from our counterparties using relevant credit market default rates, giving consideration to amounts outstanding for each counterparty and the duration of each outstanding derivative position. Based on our evaluation, we have determined that the potential impact of nonperformance of our current counterparties on the fair value of our derivative instruments is not significant at June 30, 2017 , taking into account the estimated likelihood of nonperformance. Cash and Cash Equivalents. We consider all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents potentially subject us to a concentration of credit risk as substantially all of our deposits held in financial institutions were in excess of the FDIC insurance limits at June 30, 2017 . We maintain our cash and cash equivalents in the form of money market and checking accounts with financial institutions that we believe are creditworthy and are also major lenders under our revolving credit facility. Notes Receivable . In October 2014, we sold our entire 50 percent ownership interest in PDC Mountaineer, LLC to an unrelated third-party. As part of the consideration, we received a promissory note (the “Promissory Note”) for a principal sum of $39.0 million , bearing varying interest rates. The interest was to be paid quarterly, in arrears and at the option of the issuer, could be paid-in-kind (“PIK Interest”) and any such PIK Interest would be subject to the then current interest rate. We regularly analyzed the Promissory Note for evidence of collectability, evaluating factors such as the creditworthiness of the issuer of the Promissory Note and the value of the underlying assets that secure the Promissory Note. Based upon this analysis, during the quarter ended March 31, 2016, we recognized a provision and recorded an allowance for uncollectible notes receivable for the $44.0 million accumulated outstanding balance, including interest. Commencing in the second quarter of 2016, we ceased recognizing interest income on the Promissory Note and began accounting for the interest on the Promissory Note under the cash basis method. We performed this analysis as of March 31, 2017 and evaluated preliminary 2016 year-end financial statements of the note issuer which were available at such time, related information about the operations of the issuer, and existing market conditions for natural gas. Based upon this evaluation, it was determined that collection of the Promissory Note and PIK Interest continued to be doubtful and the full valuation allowance on the Promissory Note remained appropriate as of that date. This evaluation assumed repayment of the Promissory Note would be made exclusively from the existing operations of the issuer of the Promissory Note based on the latest available information. In April 2017, we sold the Promissory Note to an unrelated third-party buyer for approximately $40.2 million in cash. The sales agreement transferred all of our legal rights to collect from the issuer of the Promissory Note. Accordingly, we reversed $40.2 million of the provision for uncollectible notes receivable during the three months ended June 30, 2017 .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure	INCOME TAXES We evaluate and update our estimated annual effective income tax rate on a quarterly basis based on current and forecasted operating results and tax laws. Consequently, based upon the mix and timing of our actual annual earnings compared to annual projections, our effective tax rate may vary quarterly and may make quarterly comparisons not meaningful. The quarterly income tax provision is generally comprised of tax expense on income or benefit on loss at the most recent estimated annual effective income tax rate, adjusted for the effect of discrete items. The effective income tax rates for the three and six months ended June 30, 2017 was 37.3 percent and 36.8 percent expense on income, respectively, compared to 37.9 percent and 37.5 percent benefit on loss for the three and six months ended June 30, 2016 . The effective income tax rates for the three and six months ended June 30, 2017 include discrete income tax benefits of $0.2 million and $1.8 million relating to the excess income tax basis recognized with the vesting of stock awards during the three and six months ended June 30, 2017 , which resulted in a 0.3 percent and 1.3 percent reduction to our effective income tax rates. The effective income tax rates for the three and six months ended June 30, 2017 , are based upon a full year forecasted tax provision on income and are greater than the statutory federal income tax rate, primarily due to state income taxes, nondeductible officers’ compensation and nondeductible lobbying expenses, partially offset by stock-based compensation tax deductions. We anticipate the potential for increased periodic volatility in future effective income tax rates from the impact of stock-based compensation tax deductions as they are treated as discrete tax items. The effective income tax rates for the three and six months ended June 30, 2016 , were based upon a full year forecasted income tax benefit on loss and were greater than the statutory federal income tax rate, primarily due to state income taxes and percentage depletion, partially offset by nondeductible officers’ compensation and nondeductible lobbying expenses. There were no significant discrete income tax items recorded during the three and six months ended June 30, 2016 . As of June 30, 2017 , there is no liability for unrecognized income tax benefits. As of the date of this report, we are current with our income tax filings in all applicable state jurisdictions and are not currently under any state income tax examinations. We continue to voluntarily participate in the Internal Revenue Service's Compliance Assurance Program for the 2016 and 2017 tax years, and received final acceptance of our 2015 federal income tax return during the six months ended June 30, 2017 .

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Long-term Debt	LONG-TERM DEBT Long-term debt consisted of the following as of: June 30, 2017 December 31, 2016 (in thousands) Senior notes: 1.125% Convertible Notes due 2021: Principal amount $ 200,000 $ 200,000 Unamortized discount (33,952 ) (37,475 ) Unamortized debt issuance costs (4,103 ) (4,584 ) 1.125% Convertible Notes due 2021, net of unamortized discount and debt issuance costs 161,945 157,941 7.75% Senior Notes due 2022: Principal amount 500,000 500,000 Unamortized debt issuance costs (5,882 ) (6,443 ) 7.75% Senior Notes due 2022, net of unamortized debt issuance costs 494,118 493,557 6.125% Senior Notes due 2024: Principal amount 400,000 400,000 Unamortized debt issuance costs (7,060 ) (7,544 ) 6.125% Senior Notes due 2024, net of unamortized debt issuance costs 392,940 392,456 Total senior notes 1,049,003 1,043,954 Revolving credit facility — — Total long-term debt, net of unamortized discount and debt issuance costs $ 1,049,003 $ 1,043,954 Senior Notes 2021 Convertible Notes. In September 2016 , we issued $200 million of 1.125% convertible senior notes due 2021 (the "2021 Convertible Notes") in a public offering. The maturity for the payment of principal is September 15, 2021 . Interest at the rate of 1.125% per year is payable in cash semiannually in arrears on each March 15 and September 15 . The conversion stock price at maturity is $85.39 per share. We allocated the gross proceeds of the 2021 Convertible Notes between the liability and equity components of the debt. The initial $160.5 million liability component was determined based on the fair value of similar debt instruments, excluding the conversion feature, priced on the same day we issued the 2021 Convertible Notes. Approximately $4.8 million in costs associated with the issuance of the 2021 Convertible Note have been capitalized as debt issuance costs. As of June 30, 2017 , the unamortized debt discount will be amortized over the remaining contractual term to maturity of the 2021 Convertible Notes using an effective interest rate of 5.8 percent . Upon conversion, the 2021 Convertible Notes may be settled, at our sole election, in shares of our common stock, cash, or a combination of cash and shares of our common stock. We have initially elected a combination settlement method to satisfy our conversion obligation, which allows us to settle the principal amount of the 2021 Convertible Notes in cash and to settle the excess conversion value, if any, in shares of our common stock, as well as cash in lieu of fractional shares. 2022 Senior Notes. In October 2012 , we issued $500 million aggregate principal amount 7.75% senior notes due October 15, 2022 (the “2022 Senior Notes”). The 2022 Senior Notes accrue interest from the date of issuance and interest is payable semi-annually in arrears on April 15 and October 15 . Approximately $11.0 million in costs associated with the issuance of the 2022 Senior Notes have been capitalized as debt issuance costs and are being amortized as interest expense over the life of the notes using the effective interest method. 2024 Senior Notes. In September 2016 , we issued $400 million aggregate principal amount of 6.125% senior notes due September 15, 2024 (the “2024 Senior Notes”) in a private placement to qualified institutional buyers. In May 2017, in accordance with the registration rights agreement that we entered into with the initial purchasers when we issued the 2024 Senior Notes, we filed a registration statement with the SEC relating to an offer to exchange the 2024 Senior Notes for registered notes with substantially identical terms. The 2024 Senior Notes accrue interest from the date of issuance and interest is payable semi-annually in arrears on March 15 and September 15 . Approximately $7.8 million in costs associated with the issuance of the 2024 Senior Notes have been capitalized as debt issuance costs and are being amortized as interest expense over the life of the notes using the effective interest method. In January 2017, pursuant to the filing of supplemental indentures for the 2021 Convertible Notes, 2022 Senior Notes, and the 2024 Senior Notes (collectively, the "Notes"), our wholly-owned subsidiary, PDC Permian, Inc., became a guarantor of our obligations under the Notes. Accordingly, condensed consolidating financial information for PDC and PDC Permian, Inc. is presented in the footnote titled Subsidiary Guarantor . As of June 30, 2017 , we were in compliance with all covenants related to the Notes, and expect to remain in compliance throughout the next 12-month period. Revolving Credit Facility Revolving Credit Facility. The revolving credit facility is available for working capital requirements, capital investments, acquisitions, general corporate purposes and to support letters of credit. The revolving credit facility matures in May 2020 and provides for a maximum of $1 billion in allowable borrowing capacity, subject to the borrowing base and certain limitations under our senior notes. The borrowing base is based on, among other things, the loan value assigned to the proved reserves attributable to our crude oil and natural gas interests. The borrowing base is subject to a semi-annual redetermination on November 1 and May 1 based upon quantification of our reserves at June 30 and December 31, and is also subject to a redetermination upon the occurrence of certain events. The revolving credit facility is secured by a pledge of the stock of certain of our subsidiaries, mortgages of certain producing crude oil and natural gas properties and substantially all of our and such subsidiaries' other assets. Our affiliated partnerships are not guarantors of our obligations under the revolving credit facility. In May 2017, we entered into a Fifth Amendment to the Third Amended and Restated Credit Agreement. The amendment, among other things, amends the revolving credit facility to reflect an increase in the borrowing base from $700 million to $950 million . We have elected to maintain a $700 million commitment level as of the date of this report. In addition, the Fifth Amendment made changes to certain of the financial and non-financial covenants in the existing agreement, as well as other administrative changes. As of June 30, 2017 and December 31, 2016 , debt issuance costs related to our revolving credit facility were $7.5 million and $8.8 million , respectively, and are included in other assets on the condensed consolidated balance sheets. We had no outstanding balance on our revolving credit facility as of June 30, 2017 or December 31, 2016 . The outstanding principal amount under the revolving credit facility accrues interest at a varying interest rate that fluctuates with an alternate base rate (equal to the greatest of JPMorgan Chase Bank, N.A.'s prime rate, the federal funds rate plus a premium and the rate for dollar deposits in the London interbank market (“LIBOR”) for one month plus a premium), or at our election, a rate equal to LIBOR for certain time periods. Additionally, commitment fees, interest margin, and other bank fees, charged as a component of interest, vary with our utilization of the facility. As of June 30, 2017 , the applicable interest margin is 1.25 percent for the alternate base rate option or 2.25 percent for the LIBOR option, and the unused commitment fee is 0.50 percent . No principal payments are generally required until the revolving credit facility expires in May 2020, or in the event that the borrowing base falls below the outstanding balance. The revolving credit facility contains covenants customary for agreements of this type, with the most restrictive being certain financial tests on a quarterly basis. The financial tests, as defined per the revolving credit facility, include requirements to: (a) maintain a minimum current ratio of 1.0:1.0 and (b) not exceed a maximum leverage ratio of 4.0:1.0. As of June 30, 2017, we were in compliance with all the revolving credit facility covenants and expect to remain in compliance throughout the next 12-month period. As defined by the revolving credit facility, our current ratio was 3.3 and our leverage ratio was 1.9 as of June 30, 2017. In May 2017, we replaced our $11.7 million irrevocable standby letter of credit that we held in favor of a third-party transportation service provider for surety of an existing firm transportation obligation with a $9.3 million deposit, which is classified as restricted cash and is included in other assets on the condensed consolidated balance sheet. As of June 30, 2017 , available funds under our revolving credit facility were $700 million based on our elected commitment level.

Other Accrued Expenses Other Ac

Other Accrued Expenses Other Accrued Expenses (Notes)	6 Months Ended
	Jun. 30, 2017
Other Accrued Expenses [Abstract]
Other Income and Other Expense Disclosure [Text Block]	OTHER ACCRUED EXPENSES Other Accrued Expenses. The following table presents the components of other accrued expenses as of: June 30, 2017 December 31, 2016 (in thousands) Employee benefits $ 12,148 $ 22,282 Asset retirement obligations 12,938 9,775 Other 4,853 6,568 Other accrued expenses $ 29,939 $ 38,625

Capital Leases (Notes)

Capital Leases (Notes)	6 Months Ended
	Jun. 30, 2017
Capital Leased Assets [Line Items]
Capital Leases in Financial Statements of Lessee Disclosure [Text Block]	CAPITAL LEASES We periodically enter into non-cancelable lease agreements for vehicles utilized by our operations and field personnel. These leases are being accounted for as capital leases, as the present value of minimum monthly lease payments, including the residual value guarantee, exceeds 90 percent of the fair value of the leased vehicles at inception of the lease. The following table presents vehicles under capital lease as of: June 30, 2017 December 31, 2016 (in thousands) Vehicles $ 5,097 $ 2,975 Accumulated depreciation (1,240 ) (776 ) $ 3,857 $ 2,199 Future minimum lease payments by year and in the aggregate, under non-cancelable capital leases with terms of one year or more, consist of the following: For the Twelve Months Ending June 30, Amount (in thousands) 2018 $ 1,836 2019 1,527 2020 1,195 4,558 Less executory cost (189 ) Less amount representing interest (491 ) Present value of minimum lease payments $ 3,878 Short-term capital lease obligations $ 1,474 Long-term capital lease obligations 2,404 $ 3,878 Short-term capital lease obligations are included in other accrued expenses on the condensed consolidated balance sheets and long-term capital lease obligations are included in other liabilities on the condensed consolidated balance sheets.

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2017
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation Disclosure	ASSET RETIREMENT OBLIGATIONS The following table presents the changes in carrying amounts of the asset retirement obligations associated with our working interests in crude oil and natural gas properties: Amount (in thousands) Balance at December 31, 2016 $ 92,387 Obligations incurred with development activities 2,415 Accretion expense 3,434 Obligations discharged with asset retirements (7,431 ) Balance at June 30, 2017 90,805 Less current portion (12,938 ) Long-term portion $ 77,867 Our estimated asset retirement obligations liability is based on historical experience in plugging and abandoning wells, estimated economic lives and estimated plugging and abandonment costs considering federal and state regulatory requirements in effect. The liability is discounted using the credit-adjusted risk-free rate estimated at the time the liability is incurred or revised. As of June 30, 2017 , the credit-adjusted risk-free rates used to discount our plugging and abandonment liabilities ranged from 6.5 percent to 8.2 percent. In periods subsequent to initial measurement of the liability, we must recognize period-to-period changes in the liability resulting from the passage of time, revisions to either the amount of the original estimate of undiscounted cash flows or changes in inflation factors, and changes to our credit-adjusted risk-free rate as market conditions warrant. Short-term asset retirement obligations are included in other accrued expenses on the condensed consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure	COMMITMENTS AND CONTINGENCIES Firm Transportation and Processing Agreements. We enter into contracts that provide firm transportation and processing on pipeline systems through which we transport or sell crude oil and natural gas. Satisfaction of the volume requirements includes volumes produced by us, purchased from third parties, and produced by our affiliated partnerships and other third-party working, royalty, and overriding royalty interest owners whose volumes we market on their behalf. Our condensed consolidated statements of operations reflect our share of these firm transportation and processing costs. These contracts require us to pay these transportation and processing charges whether or not the required volumes are delivered. The following table presents gross volume information related to our long-term firm transportation and processing agreements for pipeline capacity: For the Twelve Months Ending June 30, Area 2018 2019 2020 2021 2022 and Total Expiration Natural gas (MMcf) Wattenberg Field — 9,734 18,849 18,798 79,979 127,360 March 31, 2026 Delaware Basin 14,600 14,600 14,640 7,360 — 51,200 December 31, 2020 Gas Marketing 7,117 7,117 7,136 7,117 8,021 36,508 August 31, 2022 Utica Shale 2,737 2,737 2,745 2,737 5,709 16,665 July 22, 2023 Total 24,454 34,188 43,370 36,012 93,709 231,733 Crude oil (MBbls) Wattenberg Field 2,413 2,414 2,420 — — 7,247 June 30, 2020 Dollar commitment (in thousands) $ 18,583 $ 28,104 $ 36,564 $ 22,665 $ 81,560 $ 187,476 In December 2016, in anticipation of our future drilling activities in the Wattenberg Field, we entered into a facilities expansion agreement with our primary midstream provider to expand and improve its natural gas gathering pipelines and processing facilities. The midstream provider is expected to construct a new 200 MMcfd cryogenic plant. We will be bound to the volume requirements in this agreement on the first day of the calendar month after the actual in-service date of the plant, which in the above table is estimated to be in October 2018. The agreement requires a baseline volume commitment, consisting of our gross wellhead volume delivered in November 2016, to this midstream provider and an incremental wellhead volume commitment of 51.5 MMcfd for seven years. We may be required to pay a shortfall fee for any volumes under the 51.5 MMcfd incremental commitment. Any shortfall of this volume commitment may be offset by additional third party producers’ volumes sold to the midstream provider that are greater than a certain total baseline volume. We are also required for the first three years of the contract to guarantee a certain target profit margin to the midstream provider on these incremental volumes. We expect that our development plan will support the utilization of that capacity. In April 2017, we entered into a transportation service agreement for delivery of 40,000 dekatherms per day of our Delaware Basin natural gas production to the Waha market hub in West Texas. For each of the three and six months ended June 30, 2017 , commitments for long-term transportation volumes, net to our interest, for Wattenberg Field crude oil, Delaware Basin natural gas, and Utica Shale natural gas were $2.6 million and $4.8 million , respectively, and were recorded in transportation, gathering, and processing expense in our condensed consolidated statements of operations. For each of the three and six months ended June 30, 2016 , commitments for long-term transportation volumes for Wattenberg Field crude oil and Utica Shale natural gas were $2.3 million and $4.7 million , respectively. During the three and six months ended June 30, 2017 , long-term firm transportation costs for our gas marketing business associated with the commitments shown above were $0.9 million and $1.7 million , respectively, and were recorded in other expenses in our condensed consolidated statements of operations. During the three and six months ended June 30, 2016 , long-term firm transportation costs for our gas marketing business associated with the commitments shown above were $0.9 million and $1.7 million , respectively. Litigation and Legal Items. The Company is involved in various legal proceedings. The Company reviews the status of these proceedings on an ongoing basis and, from time to time, may settle or otherwise resolve these matters on terms and conditions that management believes are in the best interests of the Company. Management has provided the necessary estimated accruals in the accompanying balance sheets where deemed appropriate for litigation and legal related items that are ongoing and not yet concluded. However, the liability ultimately incurred with respect to a matter may exceed the related accrual. Although the results cannot be known with certainty, we believe that the ultimate results of such proceedings will not have a material adverse effect on our financial position, results of operations, or liquidity. Environmental. Due to the nature of the natural gas and oil industry, we are exposed to environmental risks. We have various policies and procedures to minimize and mitigate the risks from environmental contamination. We conduct periodic reviews and simulated drills to identify changes in our environmental risk profile. Liabilities are recorded when environmental damages resulting from past events are probable and the costs can be reasonably estimated. Except as discussed herein, we are not aware of any environmental claims existing as of June 30, 2017 which have not been provided for or would otherwise have a material impact on our financial statements; however, there can be no assurance that current regulatory requirements will not change or that unknown past non-compliance with environmental laws will not be discovered on our properties. However, the liability ultimately incurred with respect to a matter may exceed the related accrual. Accrued environmental liabilities are recorded in other accrued expenses on the condensed consolidated balance sheets. In August 2015, we received a Clean Air Act Section 114 Information Request (the "Information Request") from the U.S. Environmental Protection Agency ("EPA"). The Information Request sought, among other things, information related to the design, operation, and maintenance of our Wattenberg Field production facilities in the Denver-Julesburg Basin of Colorado. The Information Request focuses on historical operation and design information for 46 of our production facilities and asks that we conduct sampling and analyses at the identified 46 facilities. We responded to the Information Request with the requested data in January 2016. In addition, in December 2015, we received a Compliance Advisory pursuant to C.R.S. 25-7-115(2) from the Colorado Department of Public Health and Environment's (“CDPHE”) Air Quality Control Commission's Air Pollution Control Division alleging that we failed to design, operate, and maintain certain condensate collection, storage, processing, and handling operations to minimize leakage of volatile organic compounds at 65 facilities consistent with applicable standards under Colorado law. For more than a year, we held a series of meetings with the EPA, Department of Justice (“DOJ”) and CDPHE on the above matters. On June 26, 2017, the DOJ on behalf of the EPA and the State of Colorado filed a complaint against us based on the above matters. We continue to schedule meetings with these agencies in working toward a resolution of the matters. The ultimate outcome related to these combined actions is not known at this time.

Common Stock

Common Stock	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	COMMON STOCK Sale of Equity Securities During December 2016, we issued 9.4 million shares of our common stock as partial consideration for 100 percent of the common stock of Arris Petroleum and for the acquisition of certain Delaware Basin properties. Pursuant to the terms of previously-disclosed lock-up agreements, these shares were restricted for sale. The lock-up period ended on June 4, 2017. We have registered the 9.4 million shares of our common stock for resale. Stock-Based Compensation Plans The following table provides a summary of the impact of our outstanding stock-based compensation plans on the results of operations for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Stock-based compensation expense $ 5,372 $ 6,444 $ 9,826 $ 11,126 Income tax benefit (2,010 ) (2,452 ) (3,676 ) (4,233 ) Net stock-based compensation expense $ 3,362 $ 3,992 $ 6,150 $ 6,893 Stock Appreciation Rights The stock appreciation right ("SARs") vest ratably over a three-year period and may be exercised at any point after vesting through ten years from the date of issuance. Pursuant to the terms of the awards, upon exercise, the executive officers will receive, in shares of common stock, the excess of the market price of the award on the date of exercise over the market price of the award on the date of issuance . The Compensation Committee of our Board of Directors awarded SARs to our executive officers during the six months ended June 30, 2017 and 2016. The fair value of each SAR award was estimated on the date of grant using a Black-Scholes pricing model using the following assumptions: Six Months Ended June 30, 2017 2016 Expected term of award (in years) 6 6 Risk-free interest rate 2.0 % 1.8 % Expected volatility 53.3 % 54.5 % Weighted-average grant date fair value per share $ 38.58 $ 26.96 The expected term of the award was estimated using historical stock option exercise behavior data. The risk-free interest rate was based on the U.S. Treasury yields approximating the expected life of the award in effect at the time of grant. Expected volatilities were based on our historical volatility. We do not expect to pay or declare dividends in the foreseeable future. The following table presents the changes in our SARs for the six months ended June 30, 2017 : Number of Weighted-Average Average Remaining Contractual Aggregate Intrinsic (in thousands) Outstanding at December 31, 2016 244,078 $ 41.36 6.9 $ 7,620 Awarded 54,142 74.57 — — Outstanding at June 30, 2017 298,220 47.39 7.0 1,158 Exercisable at June 30, 2017 186,248 39.38 5.8 1,093 Total compensation cost related to SARs granted and not yet recognized in our condensed consolidated statement of operations as of June 30, 2017 was $2.8 million . The cost is expected to be recognized over a weighted-average period of 2.1 years. Restricted Stock Awards Time-Based Awards. The fair value of the time-based restricted shares is amortized ratably over the requisite service period, primarily three years. The time-based shares generally vest ratably on each anniversary following the grant date provided that a participant is continuously employed. The following table presents the changes in non-vested time-based awards to all employees, including executive officers, for the six months ended June 30, 2017 : Shares Weighted-Average Non-vested at December 31, 2016 479,642 $ 56.09 Granted 248,946 67.02 Vested (202,427 ) 56.43 Forfeited (5,311 ) 67.20 Non-vested at June 30, 2017 520,850 61.06 The following table presents the weighted-average grant date fair value per share and related information as of/for the periods presented: As of/Six Months Ended June 30, 2017 2016 (in thousands, except per share data) Total intrinsic value of time-based awards vested $ 13,103 $ 13,314 Total intrinsic value of time-based awards non-vested 22,454 31,506 Market price per common share as of June 30, 43.11 57.61 Weighted-average grant date fair value per share 67.02 57.11 Total compensation cost related to non-vested time-based awards and not yet recognized in our condensed consolidated statements of operations as of June 30, 2017 was $25.7 million . This cost is expected to be recognized over a weighted-average period of 2.1 years. Market-Based Awards. The fair value of the market-based restricted shares is amortized ratably over the requisite service period, primarily three years. The market-based shares vest if the participant is continuously employed throughout the performance period and the market-based performance measure is achieved, with a maximum vesting period of three years. All compensation cost related to the market-based awards will be recognized if the requisite service period is fulfilled, even if the market condition is not achieved. The Compensation Committee of our Board of Directors awarded a total of 28,069 market-based restricted shares to our executive officers during the six months ended June 30, 2017 . In addition to continuous employment, the vesting of these shares is contingent on our total stockholder return ("TSR"), which is essentially our stock price change including any dividends as compared to the TSR of a group of peer companies. The shares are measured over a three-year period ending on December 31, 2019, and can result in a payout between 0 percent and 200 percent of the total shares awarded. The weighted-average grant date fair value per market-based share for these awards was computed using the Monte Carlo pricing model using the following assumptions: Six Months Ended June 30, 2017 2016 Expected term of award (in years) 3 3 Risk-free interest rate 1.4 % 1.2 % Expected volatility 51.4 % 52.3 % Weighted-average grant date fair value per share $ 94.02 $ 72.54 The expected term of the awards was based on the requisite service period. The risk-free interest rate was based on the U.S. Treasury yields in effect at the time of grant and extrapolated to approximate the life of the award. The expected volatility was based on our historical volatility. The following table presents the change in non-vested market-based awards during the six months ended June 30, 2017 : Shares Weighted-Average Non-vested at December 31, 2016 48,420 $ 64.97 Granted 28,069 94.02 Non-vested at June 30, 2017 76,489 75.63 The following table presents the weighted-average grant date fair value per share and related information as of/for the periods presented: As of /Six Months Ended June 30, 2017 2016 (in thousands, except per share data) Total intrinsic value of market-based awards vested $ — $ 1,174 Total intrinsic value of market-based awards non-vested 3,297 4,871 Market price per common share as of June 30, 43.11 57.61 Weighted-average grant date fair value per share 94.02 72.54 Total compensation cost related to non-vested market-based awards, not yet recognized in our condensed consolidated statements of operations as of June 30, 2017 , was $3.4 million . This cost is expected to be recognized over a weighted-average period of 2.1 years. Treasury Share Purchases In June 2010, our stockholders approved a long-term equity compensation plan for our employees and non-employee directors (the "2010 Plan"). In accordance with the 2010 Plan, as amended in June 2013, up to 3,000,000 new shares of our common stock are authorized for issuance. Shares granted may be either authorized but unissued shares, treasury shares, or any combination of these shares. Additionally, the 2010 Plan permits the reuse or reissuance of shares of common stock which were canceled, expired, forfeited or, in the case of SARs, paid out in the form of cash. In accordance with our stock-based compensation plans, employees and directors may surrender shares of our common stock to pay tax withholding obligations upon the vesting and exercise of share-based awards. Shares acquired that had been issued pursuant to the 2010 Plan are reissued for new grants. For shares reissued for new grants under the 2010 Plan, shares are recorded at cost and upon reissuance we reduce the carrying value of shares acquired and held pursuant to the 2010 Plan by the weighted-average cost per share with an offsetting charge to additional paid-in capital. As of December 31, 2016 , we had 10,397 shares remaining available for reissuance pursuant to our 2010 plan. Additionally, as of December 31, 2016, we had 18,366 of shares of treasury stock related to a rabbi trust. During the six months ended June 30, 2017 , we acquired 79,381 shares pursuant to our stock-based compensation plans for payment of tax liabilities, of which 46,822 shares were reissued and 42,956 shares are available for reissuance pursuant to our 2010 Plan. Preferred Stock We are authorized to issue 50,000,000 shares of preferred stock, par value $0.01 per share, which may be issued in one or more series, with such rights, preferences, privileges, and restrictions as shall be fixed by our Board from time to time. Through June 30, 2017 , no preferred shares have been issued.

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic earnings per share is computed by dividing net earnings by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is similarly computed, except that the denominator includes the effect, using the treasury stock method, of unvested restricted stock, outstanding SARs, stock options, convertible notes, and shares held pursuant to our non-employee director deferred compensation plan, if including such potential shares of common stock is dilutive. The following table presents a reconciliation of the weighted-average diluted shares outstanding: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Weighted-average common shares outstanding - basic 65,859 46,742 65,804 44,175 Dilutive effect of: Restricted stock 94 — 176 — Other equity-based awards 66 — 86 — Weighted-average common shares and equivalents outstanding - diluted 66,019 46,742 66,066 44,175 We reported a net loss for the three and six months ended June 30, 2016. As a result, our basic and diluted weighted-average common shares outstanding were the same for that period because the effect of the common share equivalents was anti-dilutive. The following table presents the weighted-average common share equivalents excluded from the calculation of diluted earnings per share due to their anti-dilutive effect: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Weighted-average common share equivalents excluded from diluted earnings per share due to their anti-dilutive effect: Restricted stock 376 768 119 745 Convertible notes — 358 — 478 Other equity-based awards 1 103 10 105 Total anti-dilutive common share equivalents 377 1,229 129 1,328 In September 2016, we issued the 2021 Convertible Notes, which give the holders, at our election, the right to convert the aggregate principal amount into 2.3 million shares of our common stock at a conversion price of $85.39 per share. The 2021 Convertible Notes could be included in the diluted earnings per share calculation using the treasury stock method if the average market share price exceeds the $85.39 conversion price during the periods presented. During the three and six months ended June 30, 2017 , the average market price of our common stock did not exceed the conversion price; therefore, shares issuable upon conversion of the 2021 Convertible Notes were not included in the diluted earnings per share calculation. In November 2010, we issued $115.0 million aggregate principal amount of 3.25% convertible senior notes that were due in 2016 ("2016 Convertible Notes"), which gave the holders the right to convert the aggregate principal amount into 2.7 million shares of our common stock at a conversion price of $42.40 per share. The 2016 Convertible Notes matured in May 2016. Prior to maturity, the 2016 Convertible Notes were included in the diluted earnings per share calculation using the treasury stock method when the average market share price exceeded the $42.40 conversion price during the periods presented.

Subsidiary Guarantor Subsidiary

Subsidiary Guarantor Subsidiary Guarantor (Notes)	6 Months Ended
	Jun. 30, 2017
Subsidiary Guarantor [Abstract]
Guarantees [Text Block]	SUBSIDIARY GUARANTOR Our subsidiary PDC Permian, Inc. guarantees our obligations under our publicly-registered Notes. The following presents the condensed consolidating financial information separately for: (i) PDC Energy, Inc. ("Parent"), the issuer of the guaranteed obligations, including non-material subsidiaries; (ii) PDC Permian, Inc., the guarantor subsidiary ("Guarantor"), as specified in the indentures related to our Notes; (iii) Eliminations representing adjustments to (a) eliminate intercompany transactions between or among Parent, Guarantor, and our other subsidiaries and (b) eliminate the investments in our subsidiaries; (iv) Parent and subsidiaries on a consolidated basis ("Consolidated"). The Guarantor is 100% owned by the Parent beginning in December 2016. The Notes are fully and unconditionally guaranteed on a joint and several basis by the Guarantor. The guarantee is subject to release in limited circumstances only upon the occurrence of certain customary conditions. Each entity in the condensed consolidating financial information follows the same accounting policies as described in the notes to the condensed consolidated financial statements. The following condensed consolidating financial statements have been prepared on the same basis of accounting as our condensed consolidated financial statements. Investments in subsidiaries are accounted for under the equity method. Accordingly, the entries necessary to consolidate the Parent and Guarantor are reflected in the eliminations column. Condensed Consolidating Balance Sheets June 30, 2017 Parent Guarantor Eliminations Consolidated (in thousands) Assets Current assets $ 381,313 $ 14,905 $ — $ 396,218 Properties and equipment, net 1,945,252 2,220,320 — 4,165,572 Intercompany receivable 120,106 — (120,106 ) — Investment in subsidiaries 1,733,615 — (1,733,615 ) — Goodwill — 56,331 — 56,331 Noncurrent assets 37,966 841 — 38,807 Total Assets $ 4,218,252 $ 2,292,397 $ (1,853,721 ) $ 4,656,928 Liabilities and Stockholders' Equity Current liabilities $ 277,443 $ 53,223 $ — $ 330,666 Intercompany payable — 120,106 (120,106 ) — Long-term debt 1,049,004 — — 1,049,004 Other noncurrent liabilities 177,363 373,872 11,581 562,816 Stockholders' equity 2,714,442 1,745,196 (1,745,196 ) 2,714,442 Total Liabilities and Stockholders' Equity $ 4,218,252 $ 2,292,397 $ (1,853,721 ) $ 4,656,928 Condensed Consolidating Balance Sheets December 31, 2016 Parent Guarantor Eliminations Consolidated (in thousands) Assets Current assets $ 387,309 $ 12,516 $ — $ 399,825 Properties and equipment, net 1,889,419 2,118,847 — 4,008,266 Intercompany receivable 9,415 — (9,415 ) — Investment in subsidiaries 1,765,092 — (1,765,092 ) — Goodwill — 62,041 — 62,041 Noncurrent assets 15,539 171 — 15,710 Total Assets $ 4,066,774 $ 2,193,575 $ (1,774,507 ) $ 4,485,842 Liabilities and Stockholders' Equity Current liabilities $ 235,121 $ 35,457 $ — $ 270,578 Intercompany payable — 9,415 (9,415 ) — Long-term debt 1,043,954 — — 1,043,954 Other noncurrent liabilities 164,945 383,611 — 548,556 Stockholders' equity 2,622,754 1,765,092 (1,765,092 ) 2,622,754 Total Liabilities and Stockholders' Equity $ 4,066,774 $ 2,193,575 $ (1,774,507 ) $ 4,485,842 Condensed Consolidating Statements of Operations Three Months Ended June 30, 2017 Parent Guarantor Eliminations Consolidated (in thousands) Operating and other revenues $ 252,346 $ 22,812 $ — $ 275,158 Operating expenses 39,915 7,700 — 47,615 General and administrative 26,617 2,914 — 29,531 Depreciation depletion and amortization 108,727 17,286 — 126,013 Impairment of properties and equipment 531 27,035 — 27,566 Provision for uncollectible notes receivable (40,203 ) — — (40,203 ) Interest (expense) income (19,032 ) 183 — (18,849 ) Income (loss) before income taxes 97,727 (31,940 ) — 65,787 Income tax expense (36,285 ) 11,748 — (24,537 ) Equity in loss of subsidiary (20,192 ) — 20,192 — Net income (loss) $ 41,250 $ (20,192 ) $ 20,192 $ 41,250 Condensed Consolidating Statements of Operations Six Months Ended June 30, 2017 Parent Guarantor Eliminations Consolidated (in thousands) Operating and other revenues $ 507,087 $ 41,778 $ — $ 548,865 Operating expenses 77,415 14,380 — 91,795 General and administrative 50,146 5,700 — 55,846 Depreciation depletion and amortization 210,465 24,864 — 235,329 Impairment of properties and equipment 1,134 28,625 — 29,759 Provision for uncollectible notes receivable (40,203 ) — — (40,203 ) Interest (expense) income (38,389 ) 313 — (38,076 ) Income (loss) before income taxes 169,741 (31,478 ) — 138,263 Income tax expense (62,448 ) 11,581 — (50,867 ) Equity in loss of subsidiary (19,897 ) — 19,897 — Net income (loss) $ 87,396 $ (19,897 ) $ 19,897 $ 87,396 Net losses of the Guarantor for the three and six months ended June 30, 2017 are primarily the result of the impairment of certain unproved Delaware Basin leasehold positions during the respective periods. Condensed Consolidating Statements of Cash Flows Six Months Ended June 30, 2017 Parent Guarantor Eliminations Consolidated (in thousands) Cash flows from operating activities $ 246,128 $ 17,069 $ — $ 263,197 Cash flows from investing activities: Capital expenditures for development of crude oil and natural properties (198,954 ) (135,452 ) — (334,406 ) Capital expenditures for other properties and equipment (1,792 ) (507 ) — (2,299 ) Acquisition of crude oil and natural gas properties, including settlement adjustments — 5,372 — 5,372 Proceeds from sale of properties and equipment 1,293 — — 1,293 Sale of promissory note 40,203 — — 40,203 Restricted cash (9,250 ) — — (9,250 ) Purchases of short-term investments (49,890 ) — — (49,890 ) Sales of short-term investments 49,890 — — 49,890 Intercompany transfers (109,923 ) — 109,923 — Net cash from investing activities (278,423 ) (130,587 ) 109,923 (299,087 ) Cash flows from financing activities: Proceeds from issuance of equity, net of issuance costs — — — — Purchase of treasury stock (5,274 ) — — (5,274 ) Other (627 ) (18 ) — (645 ) Intercompany transfers — 109,923 (109,923 ) — Net cash from financing activities (5,901 ) 109,905 (109,923 ) (5,919 ) Net change in cash and cash equivalents (38,196 ) (3,613 ) — (41,809 ) Cash and cash equivalents, beginning of period 240,487 3,613 — 244,100 Cash and cash equivalents, end of period $ 202,291 $ — $ — $ 202,291

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Consolidation, Policy	The accompanying unaudited condensed consolidated financial statements include the accounts of PDC, our wholly-owned subsidiaries, and our proportionate share of our two affiliated partnerships. Pursuant to the proportionate consolidation method, our accompanying condensed consolidated financial statements include our pro rata share of assets, liabilities, revenues and expenses of the entities which we proportionately consolidate. All material intercompany accounts and transactions have been eliminated in consolidation
Basis of Accounting, Policy	In our opinion, the accompanying condensed consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of our financial statements for interim periods in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, pursuant to such rules and regulations, certain notes and other financial information included in audited financial statements have been condensed or omitted. The December 31, 2016 condensed consolidated balance sheet data was derived from audited statements, but does not include all disclosures required by U.S. GAAP. The information presented in this Quarterly Report on Form 10-Q should be read in conjunction with our audited consolidated financial statements and notes thereto included in our 2016 Form 10-K. Our results of operations and cash flows for the three and six months ended June 30, 2017 are not necessarily indicative of the results to be expected for the full year or any other future period
Reclassification, Policy	. Certain immaterial reclassifications have been made to our prior period statement of operations to conform to the current period presentation. The reclassifications had no impact on previously reported cash flows, net earnings, earnings per share or stockholders' equity.
Recently Issued Accounting Policy [Policy Text Block]	Recently Issued Accounting Standards In May 2014, the FASB and the International Accounting Standards Board issued their converged standard on revenue recognition that provides a single, comprehensive model that entities will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The standard outlines a five-step approach to apply the underlying principle: (1) identify the contract with the customer, (2) identify the separate performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to separate performance obligations, and (5) recognize revenue when or as each performance obligation is satisfied. In March 2016, the FASB issued an update to the standard intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations when recognizing revenue. In December 2016, the FASB issued technical corrections and improvements to the standard. The revenue standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The revenue standard can be adopted under the full retrospective method or simplified transition method. Entities are permitted to adopt the revenue standard early, beginning with annual reporting periods after December 15, 2016. We are in the process of assessing potential impacts of the new standard on our existing revenue recognition criteria, as well as on related revenue recognition disclosures. In February 2016, the FASB issued an accounting update aimed at increasing the transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet and disclosing key information about related leasing arrangements. For leases with terms of more than 12 months, the accounting update requires lessees to recognize a right-of-use asset and lease liability for its right to use the underlying asset and the corresponding lease obligation. Both the lease asset and liability will initially be measured at the present value of the future minimum lease payments over the lease term. Subsequent measurement, including the presentation of expenses and cash flows, will depend upon the classification of the lease as either a finance or operating lease. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those years, with early adoption permitted, and is to be applied as of the beginning of the earliest period presented using a modified retrospective approach. We are in the process of assessing the impact these changes may have on our consolidated financial statements. In August 2016, the FASB issued an accounting update on statements of cash flows to address diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. We are currently evaluating the impact these changes may have on our consolidated financial statements. In November 2016, the FASB issued an accounting update on statements of cash flows to address diversity in practice in the classification and presentation of changes in restricted cash. The accounting update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash or restricted cash equivalents should be included with cash and cash equivalents when reconciling beginning-of-period and end-of-period amounts shown on the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. We are currently evaluating the impact these changes may have on our consolidated financial statements. In January 2017, the FASB issued an accounting update to simplify the subsequent measurement of goodwill. The update eliminates the two-step process that required identification of potential impairment and a separate measure of actual impairment. The annual and/or interim assessments are still required to be completed. The guidance is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. We elected to early adopt this standard in the second quarter of 2017 and will implement the new guidance accordingly in performing impairment testing in 2017. Our annual evaluation of goodwill for impairment is expected to occur in the fourth quarter of 2017, at which time we will apply this accounting update and the impact can be determined. In May 2017, the FASB issued an accounting update clarifying when to account for a change to the terms or conditions of a share-based payment award as a modification. The guidance is effective for fiscal years beginning on or after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. Adoption of this standard is not expected to have a significant impact on our condensed consolidated financial statements.
Earnings Per Share, Policy	Basic earnings per share is computed by dividing net earnings by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is similarly computed, except that the denominator includes the effect, using the treasury stock method, of unvested restricted stock, outstanding SARs, stock options, convertible notes, and shares held pursuant to our non-employee director deferred compensation plan, if including such potential shares of common stock is dilutive.

Business Combination Business23

Business Combination Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Business Combination, Segment Allocation [Table Text Block]	The details of the estimated purchase price and the preliminary allocation of the purchase price for the transaction, which reflects certain post-closing adjustments, are presented below (in thousands): June 30, 2017 Acquisition costs: Cash, net of cash acquired $ 905,962 Retirement of seller's debt 40,000 Total cash consideration 945,962 Common stock, 9.4 million shares 690,702 Other purchase price adjustments 1,025 Total acquisition costs $ 1,637,689 Recognized amounts of identifiable assets acquired and liabilities assumed: Assets acquired: Current assets $ 6,561 Crude oil and natural gas properties - proved 216,000 Crude oil and natural gas properties - unproved 1,721,334 Infrastructure, pipeline, and other 33,695 Construction in progress 12,148 Goodwill 56,331 Total assets acquired 2,046,069 Liabilities assumed: Current liabilities (23,844 ) Asset retirement obligations (4,248 ) Deferred tax liabilities, net (380,288 ) Total liabilities assumed (408,380 ) Total identifiable net assets acquired $ 1,637,689

Business Combination Goodwill (

Business Combination Goodwill (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	The following table presents the changes in goodwill: Amount (in thousands) Balance at December 31, 2016 $ 62,041 Purchase price adjustments, net of tax (5,710 ) Balance at June 30, 2017 $ 56,331

Properties and Equipment (Table

Properties and Equipment (Tables)	6 Months Ended
	Jun. 30, 2017
Oil and Gas Property [Abstract]
Property, Plant and Equipment	The following table presents the components of properties and equipment, net of accumulated depreciation, depletion, and amortization ("DD&A"): June 30, 2017 December 31, 2016 (in thousands) Properties and equipment, net: Crude oil and natural gas properties Proved $ 3,842,942 $ 3,499,718 Unproved 1,841,589 1,874,671 Total crude oil and natural gas properties 5,684,531 5,374,389 Infrastructure, pipeline, and other 94,654 62,093 Land and buildings 15,274 12,165 Construction in progress 171,600 122,591 Properties and equipment, at cost 5,966,059 5,571,238 Accumulated DD&A (1,800,487 ) (1,562,972 ) Properties and equipment, net $ 4,165,572 $ 4,008,266
Impairment of natural gas and crude oil properties	The following table presents impairment charges recorded for crude oil and natural gas properties: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Impairment of unproved properties $ 27,463 $ 1,084 $ 29,565 $ 2,053 Amortization of individually insignificant unproved properties 103 54 194 86 Impairment of crude oil and natural gas properties 27,566 1,138 29,759 2,139 Land and buildings — 3,032 — 3,032 Total impairment of properties and equipment $ 27,566 $ 4,170 $ 29,759 $ 5,171

Derivative Financial Instrume26

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]	The following table presents the balance sheet location and fair value amounts of our derivative instruments on the condensed consolidated balance sheets: Fair Value Derivative instruments: Condensed consolidated balance sheet line item June 30, 2017 December 31, 2016 (in thousands) Derivative assets: Current Commodity derivative contracts Fair value of derivatives $ 49,540 $ 8,490 Basis protection derivative contracts Fair value of derivatives 2,565 301 52,105 8,791 Non-current Commodity derivative contracts Fair value of derivatives 15,051 1,123 Basis protection derivative contracts Fair value of derivatives 1,346 1,263 16,397 2,386 Total derivative assets $ 68,502 $ 11,177 Derivative liabilities: Current Commodity derivative contracts Fair value of derivatives $ 9,943 $ 53,565 Basis protection derivative contracts Fair value of derivatives 195 30 10,138 53,595 Non-current Commodity derivative contracts Fair value of derivatives 2,311 27,595 2,311 27,595 Total derivative liabilities $ 12,449 $ 81,190 The following table presents the impact of our derivative instruments on our condensed consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, Condensed consolidated statement of operations line item 2017 2016 2017 2016 (in thousands) Commodity price risk management gain, net Net settlements $ 12,015 $ 53,301 $ 12,566 $ 120,132 Net change in fair value of unsettled derivatives 45,917 (146,102 ) 126,070 (201,877 ) Total commodity price risk management gain, net $ 57,932 $ (92,801 ) $ 138,636 $ (81,745 ) Net settlements of commodity derivatives decreased for the three and six months ended June 30, 2017 as compared to the three and six months ended June 30, 2016 . We entered into agreements for the derivative instruments that settled throughout 2016 prior to commodity prices becoming depressed in late 2014. Substantially all of these higher-value agreements settled by the end of 2016. Net settlements for the three and six months ended June 30, 2017 reflect derivative instruments entered into since 2015, which more closely approximate recent realized prices. Based upon the forward strip pricing at June 30, 2017 , we expect that settlements will continue to be substantially lower in 2017 on a relative basis as compared to those in 2016. All of our financial derivative agreements contain master netting provisions that provide for the net settlement of all contracts through a single payment in the event of early termination. We have elected not to offset the fair value positions recorded on our condensed consolidated balance sheets. The following table reflects the impact of netting agreements on gross derivative assets and liabilities: As of June 30, 2017 Derivative instruments, recorded in condensed consolidated balance sheet, gross Effect of master netting agreements Derivative instruments, net (in thousands) Asset derivatives: Derivative instruments, at fair value $ 68,502 $ (10,974 ) $ 57,528 Liability derivatives: Derivative instruments, at fair value $ 12,449 $ (10,974 ) $ 1,475 As of December 31, 2016 Derivative instruments, recorded in condensed consolidated balance sheet, gross Effect of master netting agreements Derivative instruments, net (in thousands) Asset derivatives: Derivative instruments, at fair value $ 11,177 $ (10,930 ) $ 247 Liability derivatives: Derivative instruments, at fair value $ 81,190 $ (10,930 ) $ 70,260

Fair Value Measurements and D27

Fair Value Measurements and Disclosures (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Our crude oil and natural gas fixed-price swaps are included in Level 2. Our collars, physical sales, and propane fixed-price swaps are included in Level 3. Our basis swaps are included in Level 2 and Level 3. The following table presents, for each applicable level within the fair value hierarchy, our derivative assets and liabilities, including both current and non-current portions, measured at fair value on a recurring basis: June 30, 2017 December 31, 2016 Significant Other Significant Total Significant Other Significant Total (in thousands) Assets: Total assets $ 58,226 $ 10,276 $ 68,502 $ 6,350 $ 4,827 $ 11,177 Total liabilities (10,792 ) (1,657 ) (12,449 ) (66,789 ) (14,401 ) (81,190 ) Net asset (liability) $ 47,434 $ 8,619 $ 56,053 $ (60,439 ) $ (9,574 ) $ (70,013 )
Fair Value Assets and Liabilities Unobservable Input Reconciliation	The following table presents a reconciliation of our Level 3 assets measured at fair value: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Fair value of Level 3 instruments, net asset (liability) beginning of period $ 2,316 $ 73,195 $ (9,574 ) $ 91,288 Changes in fair value included in condensed consolidated statement of operations line item: Commodity price risk management gain (loss), net 9,262 (26,422 ) 22,622 (20,257 ) Settlements included in condensed consolidated statement of operations line items: Commodity price risk management gain ( loss) , net (2,959 ) (19,398 ) (4,429 ) (43,656 ) Fair value of Level 3 instruments, net asset end of period $ 8,619 $ 27,375 $ 8,619 $ 27,375 Net change in fair value of Level 3 unsettled derivatives included in condensed consolidated statement of operations line item: Commodity price risk management gain ( loss) , net $ 8,161 $ (18,210 ) $ 17,194 $ (13,105 )

Fair Value Measurements and D28

Fair Value Measurements and Disclosures Fair value of the portion of long-term debt related to senior and convertible notes (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	The portion of our long-term debt related to our revolving credit facility approximates fair value due to the variable nature of related interest rates. We have not elected to account for the portion of our debt related to our senior notes under the fair value option; however, we have determined an estimate of the fair values based on measurements of trading activity and broker and/or dealer quotes, respectively, which are published market prices, and therefore are Level 2 inputs. The table below presents these estimates of the fair value of the portion of our long-term debt related to our senior notes and convertible notes as of June 30, 2017 . Estimated Fair Value Percent of Par (in millions) Senior notes: 2021 Convertible Notes $ 180.8 90.4 % 2022 Senior Notes 520.6 104.1 % 2024 Senior Notes 406.0 101.5 %

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following as of: June 30, 2017 December 31, 2016 (in thousands) Senior notes: 1.125% Convertible Notes due 2021: Principal amount $ 200,000 $ 200,000 Unamortized discount (33,952 ) (37,475 ) Unamortized debt issuance costs (4,103 ) (4,584 ) 1.125% Convertible Notes due 2021, net of unamortized discount and debt issuance costs 161,945 157,941 7.75% Senior Notes due 2022: Principal amount 500,000 500,000 Unamortized debt issuance costs (5,882 ) (6,443 ) 7.75% Senior Notes due 2022, net of unamortized debt issuance costs 494,118 493,557 6.125% Senior Notes due 2024: Principal amount 400,000 400,000 Unamortized debt issuance costs (7,060 ) (7,544 ) 6.125% Senior Notes due 2024, net of unamortized debt issuance costs 392,940 392,456 Total senior notes 1,049,003 1,043,954 Revolving credit facility — — Total long-term debt, net of unamortized discount and debt issuance costs $ 1,049,003 $ 1,043,954

Other Accrued Expenses Other 30

Other Accrued Expenses Other Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2017
Other Accrued Expenses [Abstract]
Schedule of Other Operating Cost and Expense, by Component [Table Text Block]	The following table presents the components of other accrued expenses as of: June 30, 2017 December 31, 2016 (in thousands) Employee benefits $ 12,148 $ 22,282 Asset retirement obligations 12,938 9,775 Other 4,853 6,568 Other accrued expenses $ 29,939 $ 38,625

Capital Leases (Tables)

Capital Leases (Tables)	6 Months Ended
	Jun. 30, 2017
Capital Leases [Abstract]
Schedule of Capital Leased Assets [Table Text Block]	The following table presents vehicles under capital lease as of: June 30, 2017 December 31, 2016 (in thousands) Vehicles $ 5,097 $ 2,975 Accumulated depreciation (1,240 ) (776 ) $ 3,857 $ 2,199
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Future minimum lease payments by year and in the aggregate, under non-cancelable capital leases with terms of one year or more, consist of the following: For the Twelve Months Ending June 30, Amount (in thousands) 2018 $ 1,836 2019 1,527 2020 1,195 4,558 Less executory cost (189 ) Less amount representing interest (491 ) Present value of minimum lease payments $ 3,878 Short-term capital lease obligations $ 1,474 Long-term capital lease obligations 2,404 $ 3,878

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2017
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Change in Asset Retirement Obligation	The following table presents the changes in carrying amounts of the asset retirement obligations associated with our working interests in crude oil and natural gas properties: Amount (in thousands) Balance at December 31, 2016 $ 92,387 Obligations incurred with development activities 2,415 Accretion expense 3,434 Obligations discharged with asset retirements (7,431 ) Balance at June 30, 2017 90,805 Less current portion (12,938 ) Long-term portion $ 77,867

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contigencies (Tables)	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Supply Commitment	: For the Twelve Months Ending June 30, Area 2018 2019 2020 2021 2022 and Total Expiration Natural gas (MMcf) Wattenberg Field — 9,734 18,849 18,798 79,979 127,360 March 31, 2026 Delaware Basin 14,600 14,600 14,640 7,360 — 51,200 December 31, 2020 Gas Marketing 7,117 7,117 7,136 7,117 8,021 36,508 August 31, 2022 Utica Shale 2,737 2,737 2,745 2,737 5,709 16,665 July 22, 2023 Total 24,454 34,188 43,370 36,012 93,709 231,733 Crude oil (MBbls) Wattenberg Field 2,413 2,414 2,420 — — 7,247 June 30, 2020 Dollar commitment (in thousands) $ 18,583 $ 28,104 $ 36,564 $ 22,665 $ 81,560 $ 187,476

Common Stock (Tables)

Common Stock (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	The following table provides a summary of the impact of our outstanding stock-based compensation plans on the results of operations for the periods presented: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Stock-based compensation expense $ 5,372 $ 6,444 $ 9,826 $ 11,126 Income tax benefit (2,010 ) (2,452 ) (3,676 ) (4,233 ) Net stock-based compensation expense $ 3,362 $ 3,992 $ 6,150 $ 6,893
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	he Compensation Committee of our Board of Directors awarded SARs to our executive officers during the six months ended June 30, 2017 and 2016. The fair value of each SAR award was estimated on the date of grant using a Black-Scholes pricing model using the following assumptions: Six Months Ended June 30, 2017 2016 Expected term of award (in years) 6 6 Risk-free interest rate 2.0 % 1.8 % Expected volatility 53.3 % 54.5 % Weighted-average grant date fair value per share $ 38.58 $ 26.96
Schedule of Share-based Compensation, Stock Appreciation Rights Award Activity	The following table presents the changes in our SARs for the six months ended June 30, 2017 : Number of Weighted-Average Average Remaining Contractual Aggregate Intrinsic (in thousands) Outstanding at December 31, 2016 244,078 $ 41.36 6.9 $ 7,620 Awarded 54,142 74.57 — — Outstanding at June 30, 2017 298,220 47.39 7.0 1,158 Exercisable at June 30, 2017 186,248 39.38 5.8 1,093
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table presents the changes in non-vested time-based awards to all employees, including executive officers, for the six months ended June 30, 2017 : Shares Weighted-Average Non-vested at December 31, 2016 479,642 $ 56.09 Granted 248,946 67.02 Vested (202,427 ) 56.43 Forfeited (5,311 ) 67.20 Non-vested at June 30, 2017 520,850 61.06 The following table presents the weighted-average grant date fair value per share and related information as of/for the periods presented: As of/Six Months Ended June 30, 2017 2016 (in thousands, except per share data) Total intrinsic value of time-based awards vested $ 13,103 $ 13,314 Total intrinsic value of time-based awards non-vested 22,454 31,506 Market price per common share as of June 30, 43.11 57.61 Weighted-average grant date fair value per share 67.02 57.11
Restricted Stock Awards, Market-Based, Valuation assumptions	he Compensation Committee of our Board of Directors awarded a total of 28,069 market-based restricted shares to our executive officers during the six months ended June 30, 2017 . In addition to continuous employment, the vesting of these shares is contingent on our total stockholder return ("TSR"), which is essentially our stock price change including any dividends as compared to the TSR of a group of peer companies. The shares are measured over a three-year period ending on December 31, 2019, and can result in a payout between 0 percent and 200 percent of the total shares awarded. The weighted-average grant date fair value per market-based share for these awards was computed using the Monte Carlo pricing model using the following assumptions: Six Months Ended June 30, 2017 2016 Expected term of award (in years) 3 3 Risk-free interest rate 1.4 % 1.2 % Expected volatility 51.4 % 52.3 % Weighted-average grant date fair value per share $ 94.02 $ 72.54
Schedule of Nonvested Performance-based Units Activity	The following table presents the change in non-vested market-based awards during the six months ended June 30, 2017 : Shares Weighted-Average Non-vested at December 31, 2016 48,420 $ 64.97 Granted 28,069 94.02 Non-vested at June 30, 2017 76,489 75.63 The following table presents the weighted-average grant date fair value per share and related information as of/for the periods presented: As of /Six Months Ended June 30, 2017 2016 (in thousands, except per share data) Total intrinsic value of market-based awards vested $ — $ 1,174 Total intrinsic value of market-based awards non-vested 3,297 4,871 Market price per common share as of June 30, 43.11 57.61 Weighted-average grant date fair value per share 94.02 72.54

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Reconciliation	The following table presents a reconciliation of the weighted-average diluted shares outstanding: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Weighted-average common shares outstanding - basic 65,859 46,742 65,804 44,175 Dilutive effect of: Restricted stock 94 — 176 — Other equity-based awards 66 — 86 — Weighted-average common shares and equivalents outstanding - diluted 66,019 46,742 66,066 44,175
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents the weighted-average common share equivalents excluded from the calculation of diluted earnings per share due to their anti-dilutive effect: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Weighted-average common share equivalents excluded from diluted earnings per share due to their anti-dilutive effect: Restricted stock 376 768 119 745 Convertible notes — 358 — 478 Other equity-based awards 1 103 10 105 Total anti-dilutive common share equivalents 377 1,229 129 1,328

Subsidiary Guarantor Subsidia36

Subsidiary Guarantor Subsidiary Guarantor (Tables)	6 Months Ended
	Jun. 30, 2017
Subsidiary Guarantor [Abstract]
Schedule of Guarantor Obligations [Table Text Block]	The following condensed consolidating financial statements have been prepared on the same basis of accounting as our condensed consolidated financial statements. Investments in subsidiaries are accounted for under the equity method. Accordingly, the entries necessary to consolidate the Parent and Guarantor are reflected in the eliminations column. Condensed Consolidating Balance Sheets June 30, 2017 Parent Guarantor Eliminations Consolidated (in thousands) Assets Current assets $ 381,313 $ 14,905 $ — $ 396,218 Properties and equipment, net 1,945,252 2,220,320 — 4,165,572 Intercompany receivable 120,106 — (120,106 ) — Investment in subsidiaries 1,733,615 — (1,733,615 ) — Goodwill — 56,331 — 56,331 Noncurrent assets 37,966 841 — 38,807 Total Assets $ 4,218,252 $ 2,292,397 $ (1,853,721 ) $ 4,656,928 Liabilities and Stockholders' Equity Current liabilities $ 277,443 $ 53,223 $ — $ 330,666 Intercompany payable — 120,106 (120,106 ) — Long-term debt 1,049,004 — — 1,049,004 Other noncurrent liabilities 177,363 373,872 11,581 562,816 Stockholders' equity 2,714,442 1,745,196 (1,745,196 ) 2,714,442 Total Liabilities and Stockholders' Equity $ 4,218,252 $ 2,292,397 $ (1,853,721 ) $ 4,656,928 Condensed Consolidating Balance Sheets December 31, 2016 Parent Guarantor Eliminations Consolidated (in thousands) Assets Current assets $ 387,309 $ 12,516 $ — $ 399,825 Properties and equipment, net 1,889,419 2,118,847 — 4,008,266 Intercompany receivable 9,415 — (9,415 ) — Investment in subsidiaries 1,765,092 — (1,765,092 ) — Goodwill — 62,041 — 62,041 Noncurrent assets 15,539 171 — 15,710 Total Assets $ 4,066,774 $ 2,193,575 $ (1,774,507 ) $ 4,485,842 Liabilities and Stockholders' Equity Current liabilities $ 235,121 $ 35,457 $ — $ 270,578 Intercompany payable — 9,415 (9,415 ) — Long-term debt 1,043,954 — — 1,043,954 Other noncurrent liabilities 164,945 383,611 — 548,556 Stockholders' equity 2,622,754 1,765,092 (1,765,092 ) 2,622,754 Total Liabilities and Stockholders' Equity $ 4,066,774 $ 2,193,575 $ (1,774,507 ) $ 4,485,842 Condensed Consolidating Statements of Operations Three Months Ended June 30, 2017 Parent Guarantor Eliminations Consolidated (in thousands) Operating and other revenues $ 252,346 $ 22,812 $ — $ 275,158 Operating expenses 39,915 7,700 — 47,615 General and administrative 26,617 2,914 — 29,531 Depreciation depletion and amortization 108,727 17,286 — 126,013 Impairment of properties and equipment 531 27,035 — 27,566 Provision for uncollectible notes receivable (40,203 ) — — (40,203 ) Interest (expense) income (19,032 ) 183 — (18,849 ) Income (loss) before income taxes 97,727 (31,940 ) — 65,787 Income tax expense (36,285 ) 11,748 — (24,537 ) Equity in loss of subsidiary (20,192 ) — 20,192 — Net income (loss) $ 41,250 $ (20,192 ) $ 20,192 $ 41,250 Condensed Consolidating Statements of Operations Six Months Ended June 30, 2017 Parent Guarantor Eliminations Consolidated (in thousands) Operating and other revenues $ 507,087 $ 41,778 $ — $ 548,865 Operating expenses 77,415 14,380 — 91,795 General and administrative 50,146 5,700 — 55,846 Depreciation depletion and amortization 210,465 24,864 — 235,329 Impairment of properties and equipment 1,134 28,625 — 29,759 Provision for uncollectible notes receivable (40,203 ) — — (40,203 ) Interest (expense) income (38,389 ) 313 — (38,076 ) Income (loss) before income taxes 169,741 (31,478 ) — 138,263 Income tax expense (62,448 ) 11,581 — (50,867 ) Equity in loss of subsidiary (19,897 ) — 19,897 — Net income (loss) $ 87,396 $ (19,897 ) $ 19,897 $ 87,396 Net losses of the Guarantor for the three and six months ended June 30, 2017 are primarily the result of the impairment of certain unproved Delaware Basin leasehold positions during the respective periods. Condensed Consolidating Statements of Cash Flows Six Months Ended June 30, 2017 Parent Guarantor Eliminations Consolidated (in thousands) Cash flows from operating activities $ 246,128 $ 17,069 $ — $ 263,197 Cash flows from investing activities: Capital expenditures for development of crude oil and natural properties (198,954 ) (135,452 ) — (334,406 ) Capital expenditures for other properties and equipment (1,792 ) (507 ) — (2,299 ) Acquisition of crude oil and natural gas properties, including settlement adjustments — 5,372 — 5,372 Proceeds from sale of properties and equipment 1,293 — — 1,293 Sale of promissory note 40,203 — — 40,203 Restricted cash (9,250 ) — — (9,250 ) Purchases of short-term investments (49,890 ) — — (49,890 ) Sales of short-term investments 49,890 — — 49,890 Intercompany transfers (109,923 ) — 109,923 — Net cash from investing activities (278,423 ) (130,587 ) 109,923 (299,087 ) Cash flows from financing activities: Proceeds from issuance of equity, net of issuance costs — — — — Purchase of treasury stock (5,274 ) — — (5,274 ) Other (627 ) (18 ) — (645 ) Intercompany transfers — 109,923 (109,923 ) — Net cash from financing activities (5,901 ) 109,905 (109,923 ) (5,919 ) Net change in cash and cash equivalents (38,196 ) (3,613 ) — (41,809 ) Cash and cash equivalents, beginning of period 240,487 3,613 — 244,100 Cash and cash equivalents, end of period $ 202,291 $ — $ — $ 202,291

Nature of Operations and Basi37

Nature of Operations and Basis of Presentation Additional Information (Details)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Oil and gas producing wells, gross	2,900
Number of Operating Segments	2

Business Combination Business38

Business Combination Business Combination (Details) shares in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2016USD ($)aWellsshares	Jun. 30, 2017USD ($)
Business Acquisition [Line Items]
Oil and gas producing wells, gross		2,900
Goodwill, Purchase Accounting Adjustments		$ 5,710,000
Goodwill	$ 62,041,000	56,331,000
Delaware Basin Acquisition [Member]
Business Acquisition [Line Items]
Stock Issued During Period, Shares, Acquisitions | shares	9.4
Gas and Oil Area, Developed, Gross | a	57,900
Oil and gas producing wells, gross | Wells	30
Payments to Acquire Business Two, Net of Cash Acquired		905,962,000
Payments for Deposits Applied to Debt Retirements		40,000,000
Payments to Acquire Businesses, Gross	$ 945,962,000	945,962,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		690,702,000
Goodwill, Purchase Accounting Adjustments		1,025,000
Business Combination, Consideration Transferred		1,637,689,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets		6,561,000
Business Acquisitions Purchase Price Allocation Proved Natural Gas Properties		216,000,000
business acquisition purchase price allocation unproved properties		1,721,334,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equipment		33,695,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		12,148,000
Goodwill		56,331,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		2,046,069,000
Business Combination, Contingent Consideration, Liability, Current		(23,844,000)
Business Acquisition Purchase Price Allocation Asset Retirement Obligation		(4,248,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities		(380,288,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities		(408,380,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 1,637,689,000

Business Combination Goodwill39

Business Combination Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Goodwill [Line Items]
Goodwill	$ 56,331	$ 62,041
Goodwill, Purchase Accounting Adjustments	$ (5,710)

Properties and Equipment (Detai

Properties and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment
Proved Natural Gas and Crude Oil Properties	$ 3,842,942	$ 3,499,718
Unproved Natural Gas and Crude Oil Properties	1,841,589	1,874,671
Total Natural Gas and Crude Oil Properties	5,684,531	5,374,389
Equipment and other	94,654	62,093
Land and Buildings	15,274	12,165
Construction in Progress	171,600	122,591
Properties and equipment, at cost	5,966,059	5,571,238
Accumulated DD&A	(1,800,487)	(1,562,972)
Property, Plant and Equipment, Net	$ 4,165,572	$ 4,008,266

Impairment of Natural Gas and C

Impairment of Natural Gas and Crude Oil Properties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Impairment of natural gas and crude oil properties [Line Items]
Impairment of proved ad unproved properties	$ 27,463	$ 1,084	$ 29,565	$ 2,053
Amortization of Individually Insignificant Unproved Properties	103	54	194	86
Impairment of Oil and Gas Properties	27,566	1,138	29,759	2,139
Land and buildings	0	3,032	0	3,032
Impairment of properties and equipment	$ 27,566	$ 4,170	$ 29,759	$ 5,171

Derivative Financial Instrume42

Derivative Financial Instruments Additional Information (Details)	Jun. 30, 2017MBbls
Crude Oil [Member]
Derivatives in Place for Anticipated Production
Anticipated crude oil production hedged (MBbls)	12,896
Natural Gas [Member]
Derivatives in Place for Anticipated Production
Anticipated crude oil production hedged (MBbls)	82,030.2
Natural Gas Liquids [Member]
Derivatives in Place for Anticipated Production
Anticipated crude oil production hedged (MBbls)	643

Fair Value of Derivative and Ba

Fair Value of Derivative and Balance Sheet Location (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value
Derivative Asset, Fair Value, Gross Asset	$ 68,502	$ 11,177
Derivative Liability, Fair Value, Gross Liability	12,449	81,190
Current Assets
Derivatives, Fair Value
Fair Value of Derivatives	2,565	301
Derivative Asset, Fair Value, Gross Asset	52,105	8,791
Non Current Assets
Derivatives, Fair Value
Fair Value of Derivatives	1,346	1,263
Derivative Asset, Fair Value, Gross Asset	16,397	2,386
Current Liabilities
Derivatives, Fair Value
Fair Value of Derivatives	195	30
Derivative Liability, Fair Value, Gross Liability	10,138	53,595
Non Current Liabilities
Derivatives, Fair Value
Derivative Liability, Fair Value, Gross Liability	2,311	27,595
Commodity Contracts Related to Natural Gas and Crude Oil Sales | Current Assets
Derivatives, Fair Value
Fair Value of Derivatives	49,540	8,490
Commodity Contracts Related to Natural Gas and Crude Oil Sales | Non Current Assets
Derivatives, Fair Value
Fair Value of Derivatives	15,051	1,123
Commodity Contracts Related to Natural Gas and Crude Oil Sales | Current Liabilities
Derivatives, Fair Value
Fair Value of Derivatives	9,943	53,565
Commodity Contracts Related to Natural Gas and Crude Oil Sales | Non Current Liabilities
Derivatives, Fair Value
Derivative Liability, Fair Value, Gross Liability	$ 2,311	$ 27,595

Impact of Derivative Instrument

Impact of Derivative Instruments on Statement of Operations (Details) - Commodity Price Risk Management (loss), net - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Derivative [Line Items]
Net settlements	$ 12,015	$ 53,301	$ 12,566	$ 120,132
Net change in fair value of unsettled derivatives	45,917	(146,102)	126,070	(201,877)
Total commodity price risk management gain (loss), net	$ 57,932	$ (92,801)	$ 138,636	$ (81,745)

Derivative Financial Instrume45

Derivative Financial Instruments Impact of Netting Agreements (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivative Asset:
Derivative assets, gross	$ 68,502	$ 11,177
Effect of master netting agreements	(10,974)	(10,930)
Derivative asset, net	57,528	247
Derivative Liability:
Derivative liability, gross	12,449	81,190
Effect of master netting agreements	(10,974)	(10,930)
Derivative liability, net	$ 1,475	$ 70,260

Fair Value Measurements and D46

Fair Value Measurements and Disclosures (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value
Assets and Liabilities at Fair Value
Total assets	$ 68,502	$ 11,177
Total liabilities	(12,449)	(81,190)
Net asset (fair value)	56,053	(70,013)
Fair Value | Significant Other Observable Inputs (Level 2)
Assets and Liabilities at Fair Value
Total assets	58,226	6,350
Total liabilities	(10,792)	(66,789)
Net asset (fair value)	47,434	(60,439)
Fair Value | Significant Unobservable Inputs (Level 3)
Assets and Liabilities at Fair Value
Total assets	10,276	4,827
Total liabilities	(1,657)	(14,401)
Net asset (fair value)	$ 8,619	$ (9,574)
1.125% Convertible Senior Notes due 2021 [Member]
Assets and Liabilities at Fair Value
Debt Instrument, Interest Rate, Stated Percentage	1.125%
7.75% senior notes fair value	$ 180,800
7.75% senior notes fair value as percentage of par	90.40%
6.125% Senior Notes due 2024 [Member]
Assets and Liabilities at Fair Value
Debt Instrument, Interest Rate, Stated Percentage	6.125%
7.75% senior notes fair value	$ 520,600
7.75% senior notes fair value as percentage of par	101.50%
7.75% Senior Notes due 2022 [Member]
Assets and Liabilities at Fair Value
Debt Instrument, Interest Rate, Stated Percentage	7.75%
7.75% senior notes fair value	$ 406,000
7.75% senior notes fair value as percentage of par	104.10%

Reconciliation of Level 3 Fair

Reconciliation of Level 3 Fair Value Measurements (Details) - Derivative Financial Instrument Net Assets - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Roll-forward of Level 3 Assets
Fair Value, net assets, beginning of period	$ 2,316	$ 73,195	$ (9,574)	$ 91,288
Fair Value, net assets, end of period	8,619	27,375	8,619	27,375
Commodity Price Risk Management (loss), net
Roll-forward of Level 3 Assets
Changes in fair value included in statement of operations line item:	9,262	(26,422)	22,622	(20,257)
Settlements included in statement of operations line items:	(2,959)	(19,398)	(4,429)	(43,656)
Net change in fair value of unsettled derivatives included in statement of operations line item	$ 8,161	$ (18,210)	$ 17,194	$ (13,105)

Fair Value Measurements and D48

Fair Value Measurements and Disclosures Notes Receivable (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Oct. 14, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for uncollectible notes receivable	$ (40,203,000)	$ 0		$ (40,203,000)	$ 44,738,000
Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for uncollectible notes receivable			$ 44,000,000
Note Receivable - Principal Outstanding						$ 39,000,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Continuing Operations	37.30%	37.90%	36.80%	37.50%
Other Tax Expense (Benefit)	$ 0.2		$ 1.8
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	0.30%		1.30%

Schedule of Long-Term Debt (Det

Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Sep. 14, 2016
Debt Instrument
Total senior notes	$ 1,049,003	$ 1,043,954
Total debt, net of discount and unamortized debt issuance costs	1,049,003	1,043,954
Long-term debt	1,049,004	1,043,954
1.125% Convertible Senior Notes due 2021 [Member]
Debt Instrument
Principal amount	200,000	200,000
Unamortized Discount	(33,952)	(37,475)
Unamortized Debt Issuance Expense	(4,103)	(4,584)	$ (4,800)
3.25% Convertible senior notes due 2016, net of discount	161,945	157,941
7.75% Senior Notes due 2022 [Member]
Debt Instrument
Unamortized Debt Issuance Expense	(5,882)	(6,443)
Principal amount	500,000	500,000
7.75% Senior notes due 2022, net of unamortized debt issuance costs	494,118	493,557
6.125% Senior Notes due 2024 [Member]
Debt Instrument
Unamortized Debt Issuance Expense	(7,060)	(7,544)	$ (7,800)
Principal amount	400,000	400,000
7.75% Senior notes due 2022, net of unamortized debt issuance costs	392,940	392,456
Revolving Credit Facility
Debt Instrument
Revolving credit facility	$ 0	$ 0

Long-Term Debt Additional Infor

Long-Term Debt Additional Information (Details) - USD ($)	Oct. 15, 2022	Sep. 15, 2021	May 21, 2020	Sep. 12, 2016	Oct. 03, 2012	Sep. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Sep. 14, 2016	Nov. 15, 2010
Debt Instrument
Cash repayment of convertible notes							$ 0	$ 115,000,000
3.25% Convertible Note, Conversion Price									$ 85.39
Debt Instrument, Maturity Date		Sep. 15, 2021
Debt Issuance Costs, Line of Credit Arrangements, Net							$ 7,500,000		$ 8,800,000
Line of Credit Facility, Covenant Compliance							As of June 30, 2017, we were in compliance with all the revolving credit facility covenants and expect to remain in compliance throughout the next 12-month period. As defined by the revolving credit facility, our current ratio was 3.3 and our leverage ratio was 1.9 as of June 30, 2017.
Security Deposit							$ 9,300,000
3.25% Convertible Senior Notes due 2016 [Member]
Debt Instrument
3.25% Convertible Note, Conversion Price											$ 42.40
1.125% Convertible Senior Notes due 2021 [Member]
Debt Instrument
Debt Instrument, Interest Rate, Stated Percentage							1.125%
Debt Instrument, Issuance Date						Sep. 12, 2016
6.125% Senior Notes due 2024 [Member]
Debt Instrument
Debt Instrument, Interest Rate, Stated Percentage							6.125%
Debt Instrument, Issuance Date				Sep. 12, 2016
7.75% Senior Notes due 2022 [Member]
Debt Instrument
Debt Instrument, Interest Rate, Stated Percentage							7.75%
Debt Instrument, Issuance Date					Oct. 3, 2012
Debt Instrument, Maturity Date	Oct. 15, 2022
Payments of Debt Issuance Costs							$ 11,000,000
Revolving Credit Facility
Debt Instrument
Line of Credit Facility, Maximum Borrowing Capacity ($)							$ 1,000,000,000
Line of Credit Facility, Expiration Date			May 21, 2020
Debt Instrument, Covenant Description							The revolving credit facility contains covenants customary for agreements of this type, with the most restrictive being certain financial tests on a quarterly basis. The financial tests, as defined per the revolving credit facility, include requirements to: (a) maintain a minimum current ratio of 1.0:1.0 and (b) not exceed a maximum leverage ratio of 4.0:1.0.
RNG Credit Facility [Member]
Debt Instrument
PDC Irrevocable Standby Letter of Credit ($)							$ 11,700,000
Minimum [Member] | Revolving Credit Facility
Debt Instrument
Line of Credit Facility, Maximum Borrowing Capacity ($)							700,000,000
Maximum [Member] | Revolving Credit Facility
Debt Instrument
Line of Credit Facility, Maximum Borrowing Capacity ($)							$ 950,000,000
First Payment | 1.125% Convertible Senior Notes due 2021 [Member]
Debt Instrument
Debt Instrument, Frequency of Periodic Payment							March 15
First Payment | 6.125% Senior Notes due 2024 [Member]
Debt Instrument
Debt Instrument, Frequency of Periodic Payment							March 15
First Payment | 7.75% Senior Notes due 2022 [Member]
Debt Instrument
Debt Instrument, Frequency of Periodic Payment							April 15
Second Payment | 1.125% Convertible Senior Notes due 2021 [Member]
Debt Instrument
Debt Instrument, Frequency of Periodic Payment							September 15
Second Payment | 6.125% Senior Notes due 2024 [Member]
Debt Instrument
Debt Instrument, Frequency of Periodic Payment							September 15
Second Payment | 7.75% Senior Notes due 2022 [Member]
Debt Instrument
Debt Instrument, Frequency of Periodic Payment							October 15
Revolving Credit Facility
Debt Instrument
Long-term Line of Credit							$ 0		0
1.125% Convertible Senior Notes due 2021 [Member]
Debt Instrument
3.25% convertible senior notes fair value							200,000,000		200,000,000
Liability component of gross proceeds of Convertible Notes							160,500,000
Unamortized Debt Issuance Expense							$ (4,103,000)		$ (4,584,000)	$ (4,800,000)
Debt Instrument, Interest Rate, Effective Percentage							5.80%
Alternate Base Rate Option [Member]
Debt Instrument
Line of Credit Facility, Interest Rate at Period End							1.25%
LIBOR Option [Member]
Debt Instrument
Line of Credit Facility, Interest Rate at Period End							2.25%
Unused Commitment Fee [Member]
Debt Instrument
Line of Credit Facility, Interest Rate at Period End							0.50%

Other Accrued Expenses Other 52

Other Accrued Expenses Other Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Other Accrued Expenses [Abstract]
Accrued Employee Benefits, Current	$ 12,148	$ 22,282
Asset Retirement Obligation, Current	(12,938)	(9,775)
Other Accrued Liabilities	4,853	6,568
Other Accrued Liabilities, Noncurrent	$ 29,939	$ 38,625

Capital Leases Capital Leases (

Capital Leases Capital Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Capital Leased Assets [Line Items]
Vehicles	$ 5,097	$ 2,975
Accumulated Depreciation	(1,240)	(776)
Capital Leased Assets, Net	$ 3,857	$ 2,199

Capital Leases Minimum Lease Pa

Capital Leases Minimum Lease Payments (Details) $ in Thousands	Jun. 30, 2017USD ($)
Capital Leased Assets [Line Items]
Future Minimum Payments	$ 4,558
Executory Costs	(189)
Amount representing interest	(491)
Present Value of Net Minimum Payments	3,878
Short-term Capital Lease Obligations	1,474
Long-Term Capital Lease Obligations	2,404
Total Capital Lease Obligations	3,878
2,017
Capital Leased Assets [Line Items]
Future Minimum Payments	1,836
2,018
Capital Leased Assets [Line Items]
Future Minimum Payments	1,527
2,019
Capital Leased Assets [Line Items]
Future Minimum Payments	$ 1,195

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Asset Retirement Obligation, Roll Forward Analysis
Balance at beginning of period, January 1, 2016			$ 92,387
Obligations incurred with development activities			2,415
Accretion expense	$ 1,666	$ 1,811	3,434	$ 3,623
Obligations discharged asset retirements			(7,431)
Balance end of period, June 30, 2016	90,805		90,805
Less current portion	(12,938)		(12,938)		$ (9,775)
Long-term portion	$ 77,867		$ 77,867		$ 82,612

Commitments and Contingencies56

Commitments and Contingencies Commitments and Contigencies (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)MMcfMBbls	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)MMcfMBbls	Jun. 30, 2016USD ($)
Supply Commitment
Transportation, gathering and processing expenses | $	$ 6,488,000	$ 4,465,000	$ 12,390,000	$ 8,506,000
Oil and Gas Delivery Commitments Volumes (MMcf)	231,733		231,733
Dollar Commitment ($ in thousands) | $	$ 187,476,000		$ 187,476,000
Appalachiain Basin
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	36,508		36,508
Utica Shale
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	16,665		16,665
Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	127,360		127,360
Delaware Basin [Member]
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	51,200		51,200
First Year Commitment [Member]
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	24,454		24,454
Dollar Commitment ($ in thousands) | $	$ 18,583,000		$ 18,583,000
First Year Commitment [Member] | Appalachiain Basin
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	7,117		7,117
First Year Commitment [Member] | Utica Shale
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	2,737		2,737
First Year Commitment [Member] | Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	0		0
First Year Commitment [Member] | Delaware Basin [Member]
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	14,600		14,600
Second Year Commitment [Member]
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	34,188		34,188
Dollar Commitment ($ in thousands) | $	$ 28,104,000		$ 28,104,000
Second Year Commitment [Member] | Appalachiain Basin
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	7,117		7,117
Second Year Commitment [Member] | Utica Shale
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	2,737		2,737
Second Year Commitment [Member] | Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	9,734		9,734
Second Year Commitment [Member] | Delaware Basin [Member]
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	14,600		14,600
Third Year Commitment [Member]
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	43,370		43,370
Dollar Commitment ($ in thousands) | $	$ 36,564,000		$ 36,564,000
Third Year Commitment [Member] | Appalachiain Basin
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	7,136		7,136
Third Year Commitment [Member] | Utica Shale
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	2,745		2,745
Third Year Commitment [Member] | Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	18,849		18,849
Third Year Commitment [Member] | Delaware Basin [Member]
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	14,640		14,640
Fourth Year Commitment [Member]
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	36,012		36,012
Dollar Commitment ($ in thousands) | $	$ 22,665,000		$ 22,665,000
Fourth Year Commitment [Member] | Appalachiain Basin
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	7,117		7,117
Fourth Year Commitment [Member] | Utica Shale
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	2,737		2,737
Fourth Year Commitment [Member] | Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	18,798		18,798
Fourth Year Commitment [Member] | Delaware Basin [Member]
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	7,360		7,360
commitments 5 years and beyond [Member]
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	93,709		93,709
Dollar Commitment ($ in thousands) | $	$ 81,560,000		$ 81,560,000
commitments 5 years and beyond [Member] | Appalachiain Basin
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	8,021		8,021
commitments 5 years and beyond [Member] | Utica Shale
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	5,709		5,709
commitments 5 years and beyond [Member] | Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	79,979		79,979
commitments 5 years and beyond [Member] | Delaware Basin [Member]
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf)	0		0
Supply Contract Expiration Date [Member] | Appalachiain Basin
Supply Commitment
Supply Commitments Contract Expiration Date	Aug. 31, 2022
Supply Contract Expiration Date [Member] | Utica Shale
Supply Commitment
Supply Commitments Contract Expiration Date	Jul. 22, 2023
Supply Contract Expiration Date [Member] | Wattenberg Field
Supply Commitment
Supply Commitments Contract Expiration Date	Mar. 31, 2026
Supply Contract Expiration Date [Member] | Delaware Basin [Member]
Supply Commitment
Supply Commitments Contract Expiration Date	Dec. 31, 2020
Crude Oil [Member] | Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf) | MBbls	7,247		7,247
Crude Oil [Member] | First Year Commitment [Member] | Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf) | MBbls	2,413		2,413
Crude Oil [Member] | Second Year Commitment [Member] | Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf) | MBbls	2,414		2,414
Crude Oil [Member] | Third Year Commitment [Member] | Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf) | MBbls	2,420		2,420
Crude Oil [Member] | Fourth Year Commitment [Member] | Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf) | MBbls	0		0
Crude Oil [Member] | commitments 5 years and beyond [Member] | Wattenberg Field
Supply Commitment
Oil and Gas Delivery Commitments Volumes (MMcf) | MBbls	0		0
Crude Oil [Member] | Supply Contract Expiration Date [Member] | Wattenberg Field
Supply Commitment
Supply Commitments Contract Expiration Date	Jun. 30, 2020
Utica Shale natural gas and Wattenberg Field crude oil [Member]
Supply Commitment
Transportation, gathering and processing expenses | $	$ 862,314.75	$ 852,382	$ 1,724,629.5	$ 1,714,409

Commitments and Contingencies A

Commitments and Contingencies Additional information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Loss Contingencies [Line Items]
Transportation, gathering and processing expenses	$ 6,488,000	$ 4,465,000	$ 12,390,000	$ 8,506,000
Utica Shale natural gas and Wattenberg Field crude oil [Member]
Loss Contingencies [Line Items]
Transportation, gathering and processing expenses	2,600,000	2,300,000	4,800,000	4,700,000
Utica Shale natural gas and Wattenberg Field crude oil [Member]
Loss Contingencies [Line Items]
Transportation, gathering and processing expenses	$ 862,314.75	$ 852,382	$ 1,724,629.5	$ 1,714,409

Common Stock Sale of Common Sto

Common Stock Sale of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Class of Stock [Line Items]
Common stock, par value	$ 0.01		$ 0.01
Proceeds from issuance of equity, net of issuance costs	$ 0	$ 296,575
Common shares - par value	659		$ 657
Additional paid-in capital	2,495,940		$ 2,489,557
Repayments of Convertible Debt	$ 0	$ 115,000
Debt Instrument, Convertible, Conversion Price			$ 85.39

Share Based Compensation Summar

Share Based Compensation Summary (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Stock-based compensation expense	$ 5,372	$ 6,444	$ 9,826	$ 11,126
Income tax benefit	(2,010)	(2,452)	(3,676)	(4,233)
Net stock-based compensation expense	$ 3,362	$ 3,992	$ 6,150	$ 6,893

SARs Fair Value Assumptions (De

SARs Fair Value Assumptions (Details) - Stock Appreciation Rights (SARs) - $ / shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award
Expected term of award	6 years	6 years
Risk-free interest rate	2.00%	1.80%
Expected Volatility	53.30%	54.50%
Granted	$ 38.58	$ 26.96

Schedule of Changes in SARs (De

Schedule of Changes in SARs (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award	The stock appreciation right ("SARs") vest ratably over a three-year period and may be exercised at any point after vesting through ten years from the date of issuance. Pursuant to the terms of the awards, upon exercise, the executive officers will receive, in shares of common stock, the excess of the market price of the award on the date of exercise over the market price of the award on the date of issuance
Stock Appreciation Rights (SARs)
Number of SARs
Outstanding beginning of year, January 1,	244,078
Awarded	54,142
Outstanding at June 30,	298,220	244,078
Exercisable at June 30,			186,248
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price
Outstanding beginning of year, January 1,	$ 41.36
Awarded	74.57
Outstanding at June 30,	$ 47.39	$ 41.36
Exercisable at June 30,			$ 39.38
Weighted-Average Remaining Contractual Term (in years)
Outstanding at June 30,	6 years 11 months 18 days	6 years 10 months 25 days
Exercisable at June 30,	5 years 9 months 28 days
Share based compesation aggregate intrinsic value
Outstanding beginning of year, January 1,	$ 1,158	$ 7,620	$ 1,158
Outstanding at June 30,	$ 1,158	$ 7,620
Exercisable at June 30,			1,093
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized			$ 2,800
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	2 years 1 month 7 days

Schedule of Changes in Restrict

Schedule of Changes in Restricted Stock - TIme Based Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award	The stock appreciation right ("SARs") vest ratably over a three-year period and may be exercised at any point after vesting through ten years from the date of issuance. Pursuant to the terms of the awards, upon exercise, the executive officers will receive, in shares of common stock, the excess of the market price of the award on the date of exercise over the market price of the award on the date of issuance
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award	The fair value of the time-based restricted shares is amortized ratably over the requisite service period, primarily three years. The time-based shares generally vest ratably on each anniversary following the grant date provided that a participant is continuously employed.
Number of Shares
Outstanding beginning of year, January 1,	479,642
Granted	248,946
Vested	(202,427)
Forfeited	(5,311)
Outstanding at June 30,	520,850
Weighted-Average Grant-Date Fair Value
Outstanding at beginning of year, January 1,	$ 56.09
Granted	67.02	$ 57.11
Vested	56.43
Forfeited	67.20
Outstanding at June 30,	$ 61.06
Total intrinsic value of time based awards vested	$ 13,103	$ 13,314
Total intrinsic value of time-based awards non-vested	$ 22,454	$ 31,506
Market price per common share as of June 30,	$ 43.11	$ 57.61
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	$ 25,700
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	2 years 1 month 7 days

Restricted Stock - Market Based

Restricted Stock - Market Based Awards Fair Value Assumptions (Details) - Restricted Stock - Market Based Awards - $ / shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award
Expected term of award	3 years	3 years
Risk-free interest rate	1.40%	1.20%
Expected Volatility	51.40%	52.30%
Granted	$ 94.02	$ 72.54

Schedule of Changes in Restri64

Schedule of Changes in Restricted Stock - Market Based Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award	The stock appreciation right ("SARs") vest ratably over a three-year period and may be exercised at any point after vesting through ten years from the date of issuance. Pursuant to the terms of the awards, upon exercise, the executive officers will receive, in shares of common stock, the excess of the market price of the award on the date of exercise over the market price of the award on the date of issuance
Restricted Stock - Market Based Awards
Share-based Compensation Arrangement by Share-based Payment Award
Vested and expected to vest at June 30,	$ 0	$ 1,174
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award	The fair value of the market-based restricted shares is amortized ratably over the requisite service period, primarily three years. The market-based shares vest if the participant is continuously employed throughout the performance period and the market-based performance measure is achieved, with a maximum vesting period of three years. All compensation cost related to the market-based awards will be recognized if the requisite service period is fulfilled, even if the market condition is not achieved.
Time based shares granted to executives	28,069
Number of Shares
Outstanding beginning of year, January 1,	48,420
Granted	28,069
Outstanding at June 30,	76,489
Weighted-Average Grant-Date Fair Value
Outstanding at beginning of year, January 1,	$ 64.97
Granted	94.02	$ 72.54
Outstanding at June 30,	$ 75.63
Total intrinsic value of market-based awards non-vested	$ 3,297	$ 4,871
Market price per common share as of June 30,	$ 43.11	$ 57.61
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	$ 3,400
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	2 years 1 month 7 days

Common Stock Preferred Stock (D

Common Stock Preferred Stock (Details) - shares	Jun. 30, 2017	Dec. 31, 2016	Jun. 23, 2008
Share-based Compensation Arrangement by Share-based Payment Award
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Preferred Stock, Shares Authorized			50,000,000
Preferred Stock, Shares Issued	0

Common Stock Treasury Shares (D

Common Stock Treasury Shares (Details) - shares	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award
Common stock, shares authorized	150,000,000	150,000,000
Treasury stock acquired, and available for reissuance	(10,397)
Common Stock, Shares Held in Employee Trust, Shares	(18,366)
Treasury Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Treasury stock acquired, and available for reissuance	(42,956)
Treasury Stock, Shares, Acquired	(79,381)
Treasury stock acquired and reissued	46,822

Earnings Per Share (Details)

Earnings Per Share (Details)	Nov. 15, 2010shares$ / shares	Jun. 30, 2017shares	Jun. 30, 2016shares	Jun. 30, 2017shares	Jun. 30, 2016shares	Dec. 31, 2016shares$ / shares
Reconciliation of Weighted-Average Diluted Shares Outstanding
Weighted average common shares outstanding - basic		65,859,000	46,742,000	65,804,000	44,175,000
Anti-dilutive Effect
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		377,000	1,229,000	129,000	1,328,000
Convertible Senior Note Due 2016
3.25% Convertible Note, Shares To Be Received Upon Conversion (in thousands)						2,300,000
3.25% Convertible Note, Conversion Price | $ / shares						$ 85.39
Restricted stock
Reconciliation of Weighted-Average Diluted Shares Outstanding
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements		94,000	0	176,000	0
Anti-dilutive Effect
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		376,000	768,000	119,000	745,000
3.25% Convertible Note [Member]
Anti-dilutive Effect
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		0	358,000	0	478,000
Other equity-based awards
Reconciliation of Weighted-Average Diluted Shares Outstanding
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements		66,000	0	86,000	0
Anti-dilutive Effect
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		1,000	103,000	10,000	105,000
3.25% Convertible Senior Notes due 2016 [Member]
Convertible Senior Note Due 2016
3.25% Convertible Note, Shares To Be Received Upon Conversion (in thousands)	2,700,000
3.25% Convertible Note, Conversion Price | $ / shares	$ 42.40

Subsidiary Guarantor Condensed

Subsidiary Guarantor Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets, Current	$ 396,218	$ 399,825
Properties and equipment, net	4,165,572	4,008,266
Intercompany Receivables	0	0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	0	0
Goodwill	56,331	62,041
Assets, Noncurrent	38,807	15,710
Total Assets	4,656,928	4,485,842
Liabilities, Current	330,666	270,578
Intercompany Payable	0	0
Long-term debt	1,049,004	1,043,954
Other Liabilities and Deferred Revenue, Noncurrent	562,816	548,556
Stockholders' Equity Attributable to Parent	2,714,442	2,622,754
Total Liabilities and Stockholders' Equity	4,656,928	4,485,842
Parent Company [Member]
Assets, Current	381,313	387,309
Properties and equipment, net	1,945,252	1,889,419
Intercompany Receivables	120,106	9,415
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	1,733,615	1,765,092
Goodwill	0	0
Assets, Noncurrent	37,966	15,539
Total Assets	4,218,252	4,066,774
Liabilities, Current	277,443	235,121
Intercompany Payable	0	0
Long-term debt	1,049,004	1,043,954
Other Liabilities and Deferred Revenue, Noncurrent	177,363	164,945
Stockholders' Equity Attributable to Parent	2,714,442	2,622,754
Total Liabilities and Stockholders' Equity	4,218,252	4,066,774
Guarantor Subsidiaries [Member]
Assets, Current	14,905	12,516
Properties and equipment, net	2,220,320	2,118,847
Intercompany Receivables	0	0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	0	0
Goodwill	56,331	62,041
Assets, Noncurrent	841	171
Total Assets	2,292,397	2,193,575
Liabilities, Current	53,223	35,457
Intercompany Payable	120,106	9,415
Long-term debt	0	0
Other Liabilities and Deferred Revenue, Noncurrent	373,872	383,611
Stockholders' Equity Attributable to Parent	1,745,196	1,765,092
Total Liabilities and Stockholders' Equity	2,292,397	2,193,575
Consolidation, Eliminations [Member]
Assets, Current	0	0
Properties and equipment, net	0	0
Intercompany Receivables	(120,106)	(9,415)
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	(1,733,615)	(1,765,092)
Goodwill	0	0
Assets, Noncurrent	0	0
Total Assets	(1,853,721)	(1,774,507)
Liabilities, Current	0	0
Intercompany Payable	(120,106)	(9,415)
Long-term debt	0	0
Other Liabilities and Deferred Revenue, Noncurrent	11,581	0
Stockholders' Equity Attributable to Parent	(1,745,196)	(1,765,092)
Total Liabilities and Stockholders' Equity	$ (1,853,721)	$ (1,774,507)

Subsidiary Guarantor Condense69

Subsidiary Guarantor Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues	$ 275,158	$ 20,097	$ 548,865	$ 110,928
Operating Costs and Expenses	47,615		91,795
General and administrative expense	29,531	23,579	55,846	46,358
Depreciation, depletion and amortization	126,013	107,014	235,329	204,402
Impairment of properties and equipment	27,566	4,170	29,759	5,171
Impairment of Oil and Gas Properties	27,566	1,138	29,759	2,139
Provision for uncollectible notes receivable	(40,203)	0	(40,203)	44,738
Interest Income (Expense), Net	(18,849)		(38,076)
Income (loss) before income taxes	65,787	(153,777)	138,263	(267,146)
Income tax (expense) benefit	(24,537)	58,327	(50,867)	100,166
Income (Loss) from Subsidiaries, Net of Tax	0		0
Net income (loss)	41,250	$ (95,450)	87,396	$ (166,980)
Consolidation, Eliminations [Member]
Revenues	0		0
Operating Costs and Expenses	0		0
General and administrative expense	0		0
Depreciation, depletion and amortization	0		0
Impairment of Oil and Gas Properties	0		0
Provision for uncollectible notes receivable	0		0
Interest Income (Expense), Net	0		0
Income (loss) before income taxes	0		0
Income tax (expense) benefit	0		0
Income (Loss) from Subsidiaries, Net of Tax	20,192		19,897
Net income (loss)	20,192		19,897
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenues	22,812		41,778
Operating Costs and Expenses	7,700		14,380
General and administrative expense	2,914		5,700
Depreciation, depletion and amortization	17,286		24,864
Impairment of Oil and Gas Properties	27,035		28,625
Provision for uncollectible notes receivable	0		0
Interest Income (Expense), Net	183		313
Income (loss) before income taxes	(31,940)		(31,478)
Income tax (expense) benefit	11,748		11,581
Income (Loss) from Subsidiaries, Net of Tax	0		0
Net income (loss)	(20,192)		(19,897)
Parent Company [Member] | Reportable Legal Entities [Member]
Revenues	252,346		507,087
Operating Costs and Expenses	39,915		77,415
General and administrative expense	26,617		50,146
Depreciation, depletion and amortization	108,727		210,465
Impairment of Oil and Gas Properties	531		1,134
Provision for uncollectible notes receivable	(40,203)		(40,203)
Interest Income (Expense), Net	(19,032)		(38,389)
Income (loss) before income taxes	97,727		169,741
Income tax (expense) benefit	(36,285)		(62,448)
Income (Loss) from Subsidiaries, Net of Tax	(20,192)		(19,897)
Net income (loss)	$ 41,250		$ 87,396

Subsidiary Guarantor Condense70

Subsidiary Guarantor Condensed Consolidating Statement of Cash Flows (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Net cash from operating activities	$ 263,197,000	$ 197,798,000
Cash flows from investing activities:
Capital expenditures for development of crude oil and natural gas properties	(334,406,000)	(234,677,000)
Capital expenditures for other properties and equipment	(2,299,000)	(1,030,000)
Acquisition of crude oil and natural gas properties, including final settlement adjustments	5,372,000	0
Proceeds from sale of properties and equipment	1,293,000	4,903,000
Proceeds from Sale of Notes Receivable	40,203,000	0
Increase (Decrease) in Restricted Cash	(9,250,000)	0
Purchases of short-term investments	(49,890,000)	0
Proceeds from Sale of Short-term Investments	49,890,000	0
intercompany Transfer Investing Activities	0
Net cash from investing activities	(299,087,000)	(230,804,000)
Cash flows from financing activities:
Proceeds from issuance of equity, net of issuance costs	0	296,575,000
Treasury Stock, Value, Acquired, Cost Method	(5,274,000)	(4,055,000)
Other	(645,000)	735,000
Intercompany Transfers Financing Activities	0
Net cash from financing activities	(5,919,000)	141,255,000
Net change in cash and cash equivalents	(41,809,000)	108,249,000
Cash and cash equivalents, beginning of period	244,100,000	850,000
Cash and cash equivalents, end of period	202,291,000	$ 109,099,000
Consolidation, Eliminations [Member]
Net cash from operating activities	0
Cash flows from investing activities:
Capital expenditures for development of crude oil and natural gas properties	0
Capital expenditures for other properties and equipment	0
Acquisition of crude oil and natural gas properties, including final settlement adjustments	0
Proceeds from sale of properties and equipment	0
Proceeds from Sale of Notes Receivable	0
Increase (Decrease) in Restricted Cash	0
Purchases of short-term investments	0
Proceeds from Sale of Short-term Investments	0
intercompany Transfer Investing Activities	109,923,000
Net cash from investing activities	109,923,000
Cash flows from financing activities:
Proceeds from issuance of equity, net of issuance costs	0
Treasury Stock, Value, Acquired, Cost Method	0
Other	0
Intercompany Transfers Financing Activities	(109,923,000)
Net cash from financing activities	(109,923,000)
Net change in cash and cash equivalents	0
Cash and cash equivalents, beginning of period	0
Cash and cash equivalents, end of period	0
Parent Company [Member] | Reportable Legal Entities [Member]
Net cash from operating activities	246,128,000
Cash flows from investing activities:
Capital expenditures for development of crude oil and natural gas properties	(198,954,000)
Capital expenditures for other properties and equipment	(1,792,000)
Acquisition of crude oil and natural gas properties, including final settlement adjustments	0
Proceeds from sale of properties and equipment	1,293,000
Proceeds from Sale of Notes Receivable	40,203,000
Increase (Decrease) in Restricted Cash	(9,250,000)
Purchases of short-term investments	(49,890,000)
Proceeds from Sale of Short-term Investments	49,890,000
intercompany Transfer Investing Activities	(109,923,000)
Net cash from investing activities	(278,423,000)
Cash flows from financing activities:
Proceeds from issuance of equity, net of issuance costs	0
Treasury Stock, Value, Acquired, Cost Method	(5,274,000)
Other	(627,000)
Intercompany Transfers Financing Activities	0
Net cash from financing activities	(5,901,000)
Net change in cash and cash equivalents	(38,196,000)
Cash and cash equivalents, beginning of period	240,487,000
Cash and cash equivalents, end of period	202,291,000
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Net cash from operating activities	17,069,000
Cash flows from investing activities:
Capital expenditures for development of crude oil and natural gas properties	(135,452,000)
Capital expenditures for other properties and equipment	(507,000)
Acquisition of crude oil and natural gas properties, including final settlement adjustments	5,372,000
Proceeds from sale of properties and equipment	0
Proceeds from Sale of Notes Receivable	0
Increase (Decrease) in Restricted Cash	0
Purchases of short-term investments	0
Proceeds from Sale of Short-term Investments	0
intercompany Transfer Investing Activities	0
Net cash from investing activities	(130,587,000)
Cash flows from financing activities:
Proceeds from issuance of equity, net of issuance costs	0
Treasury Stock, Value, Acquired, Cost Method	0
Other	(18,000)
Intercompany Transfers Financing Activities	109,923,000
Net cash from financing activities	109,905,000
Net change in cash and cash equivalents	(3,613,000)
Cash and cash equivalents, beginning of period	3,613,000
Cash and cash equivalents, end of period	$ 0