Stone Energy (SGY) 10-Q5 Nov 152015 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2015	Nov. 03, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	SGY
Entity Registrant Name	STONE ENERGY CORP
Entity Central Index Key	904,080
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		57,094,064

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 74,474		$ 74,488	$ 180,307		$ 331,224
Restricted cash	0		177,647
Accounts receivable	57,859		120,359
Fair value of derivative contracts	65,700		139,179
Current income tax receivable	0		7,212
Inventory	3,709		3,709
Other current assets	9,203		8,118
Total current assets	210,945		530,712
Oil and gas properties, full cost method of accounting:
Proved	9,204,693		8,817,268
Less: accumulated depreciation, depletion and amortization	(8,199,973)		(6,970,631)
Net proved oil and gas properties	1,004,720		1,846,637
Unevaluated	518,963		567,365
Other property and equipment, net	30,327		32,340
Fair value of derivative contracts	5,734		14,333
Other assets, net	25,623		27,224
Total assets	1,796,312		3,018,611
Current liabilities:
Accounts payable to vendors	66,054		132,629
Undistributed oil and gas proceeds	10,461		23,232
Accrued interest	22,241		9,022
Deferred taxes	0		20,119
Asset retirement obligations	42,624		69,400
Other current liabilities	42,134		49,505
Total current liabilities	183,514		303,907
Long-term debt	1,052,183		1,041,035
Deferred taxes	0		286,343
Asset retirement obligations	243,567		247,009
Fair value of derivative contracts	172		0
Other long-term liabilities	25,347		38,714
Total liabilities	$ 1,504,783		$ 1,917,008
Commitments and contingencies
Stockholders’ equity:
Common stock, $.01 par value; authorized 150,000,000 shares; issued 55,302,325 and 54,884,542 shares, respectively	$ 553		$ 549
Treasury stock (16,582 shares, at cost)	(860)		(860)
Additional paid-in capital	1,643,746		1,633,307
Accumulated deficit	(1,386,967)		(614,708)
Accumulated other comprehensive income	35,057	$ 40,700	83,315	$ 11,200	$ (18,200)	$ (2,100)
Total stockholders’ equity	291,529		1,101,603
Total liabilities and stockholders’ equity	$ 1,796,312		$ 3,018,611

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	55,302,325	54,884,542
Treasury stock, shares (in shares)	16,582	16,582

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating revenue:
Oil production	$ 105,013	$ 123,795	$ 324,105	$ 404,477
Natural gas production	17,367	30,154	72,611	133,183
Natural gas liquids production	5,980	21,014	29,379	64,920
Other operational income	1,392	2,468	3,184	5,515
Derivative income, net	2,444	5,782	4,871	2,667
Total operating revenue	132,196	183,213	434,150	610,762
Operating expenses:
Lease operating expenses	24,244	43,561	79,250	139,918
Transportation, processing and gathering expenses	18,208	16,721	55,851	45,445
Production taxes	2,052	3,651	6,394	9,970
Depreciation, depletion and amortization	61,936	80,291	226,309	255,772
Write-down of oil and gas properties	295,679	47,130	1,011,385	47,130
Accretion expense	6,498	6,539	19,315	21,827
Salaries, general and administrative expenses	19,552	16,286	52,977	49,252
Incentive compensation expense	794	3,092	3,621	10,129
Other operational expenses	442	298	1,612	510
Total operating expenses	429,405	217,569	1,456,714	579,953
Income (loss) from operations	(297,209)	(34,356)	(1,022,564)	30,809
Other (income) expenses:
Interest expense	10,872	10,323	31,709	28,593
Interest income	(47)	(169)	(235)	(505)
Other income	(411)	(695)	(1,167)	(2,124)
Other expense	148	95	148	274
Total other expenses	10,562	9,554	30,455	26,238
Income (loss) before income taxes	(307,771)	(43,910)	(1,053,019)	4,571
Provision (benefit) for income taxes:
Deferred	(15,806)	(14,495)	(280,760)	3,599
Total income taxes	(15,806)	(14,495)	(280,760)	3,599
Net income (loss)	$ (291,965)	$ (29,415)	$ (772,259)	$ 972
Basic earnings (loss) per share (usd per share)	$ (5.28)	$ (0.54)	$ (13.98)	$ 0.02
Diluted earnings (loss) per share (usd per share)	$ (5.28)	$ (0.54)	$ (13.98)	$ 0.02
Average shares outstanding (in shares)	55,282	54,866	55,238	51,998
Average shares outstanding assuming dilution (in shares)	55,282	54,866	55,238	52,139

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (291,965)	$ (29,415)	$ (772,259)	$ 972
Other comprehensive income (loss), net of tax effect:
Derivatives	(5,353)	30,975	(45,691)	14,620
Foreign currency translation	(246)	(1,625)	(2,567)	(1,369)
Comprehensive income (loss)	$ (297,564)	$ (65)	$ (820,517)	$ 14,223

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (772,259)	$ 972
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	226,309	255,772
Write-down of oil and gas properties	1,011,385	47,130
Accretion expense	19,315	21,827
Deferred income tax (benefit) provision	(280,760)	3,599
Settlement of asset retirement obligations	(59,826)	(47,217)
Non-cash stock compensation expense	9,163	8,409
Non-cash derivative (income) expense	10,854	(2,386)
Non-cash interest expense	13,210	12,393
Change in current income taxes	7,211	(6)
(Increase) decrease in accounts receivable	33,895	(1,805)
Increase in other current assets	(1,090)	(10)
Decrease in accounts payable	(11,592)	(3,547)
Increase (decrease) in other current liabilities	(6,753)	37,441
Other	(82)	(172)
Net cash provided by operating activities	198,980	332,400
Cash flows from investing activities:
Investment in oil and gas properties	(385,528)	(727,488)
Proceeds from sale of oil and gas properties, net of expenses	11,643	223,299
Investment in fixed and other assets	(1,455)	(8,790)
Change in restricted funds	179,475	(185,752)
Net cash used in investing activities	(195,865)	(698,731)
Cash flows from financing activities:
Proceeds from bank borrowings	5,000	0
Repayment of bank borrowings	(5,000)	0
Net proceeds from issuance of common stock	0	225,999
Deferred financing costs	0	(3,329)
Net payments for share-based compensation	(3,127)	(7,161)
Net cash provided by (used in) financing activities	(3,127)	215,509
Effect of exchange rate changes on cash	(2)	(95)
Net change in cash and cash equivalents	(14)	(150,917)
Cash and cash equivalents, beginning of period	74,488	331,224
Cash and cash equivalents, end of period	$ 74,474	$ 180,307

Interim Financial Statements

Interim Financial Statements	9 Months Ended
Interim Financial Statements	Sep. 30, 2015
Accounting Policies [Abstract]
Interim Financial Statements	Interim Financial Statements The condensed consolidated financial statements of Stone Energy Corporation (“Stone”) and its subsidiaries as of September 30, 2015 and for the three and nine month periods ended September 30, 2015 and 2014 are unaudited and reflect all adjustments (consisting only of normal recurring adjustments), which are, in the opinion of management, necessary for a fair presentation of the financial position and operating results for the interim periods. The condensed consolidated balance sheet as of December 31, 2014 has been derived from the audited financial statements as of that date contained in our Annual Report on Form 10-K for the year ended December 31, 2014 (our “ 2014 Annual Report on Form 10-K”). The condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto, together with management’s discussion and analysis of financial condition and results of operations, contained in our 2014 Annual Report on Form 10-K. The results of operations for the three and nine month periods ended September 30, 2015 are not necessarily indicative of future financial results.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the calculation of basic and diluted weighted average shares outstanding and earnings per share for the indicated periods: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In thousands, except per share data) Income (numerator): Basic: Net income (loss) $ (291,965 ) $ (29,415 ) $ (772,259 ) $ 972 Net income attributable to participating securities — — — (22 ) Net income (loss) attributable to common stock - basic $ (291,965 ) $ (29,415 ) $ (772,259 ) $ 950 Diluted: Net income (loss) $ (291,965 ) $ (29,415 ) $ (772,259 ) $ 972 Net income attributable to participating securities — — — (22 ) Net income (loss) attributable to common stock - diluted $ (291,965 ) $ (29,415 ) $ (772,259 ) $ 950 Weighted average shares (denominator): Weighted average shares - basic 55,282 54,866 55,238 51,998 Dilutive effect of stock options — — — 53 Dilutive effect of convertible notes — — — 88 Weighted average shares - diluted 55,282 54,866 55,238 52,139 Basic earnings (loss) per share $ (5.28 ) $ (0.54 ) $ (13.98 ) $ 0.02 Diluted earnings (loss) per share $ (5.28 ) $ (0.54 ) $ (13.98 ) $ 0.02 All outstanding stock options were considered antidilutive during the three and nine months ended September 30, 2015 (approximately 145,000 shares) and during the three months ended September 30, 2014 (approximately 205,000 shares) because we had a net loss for such periods. Stock options that were considered antidilutive because the exercise price of the options exceeded the average price of our common stock totaled approximately 116,000 shares during the nine months ended September 30, 2014 . During the three months ended September 30, 2015 and 2014 , approximately 19,000 shares and 10,000 shares of our common stock, respectively, were issued from authorized shares upon the lapsing of forfeiture restrictions of restricted stock by employees and nonemployee directors. During the nine months ended September 30, 2015 and 2014 , approximately 418,000 shares and 382,000 shares of our common stock, respectively, were issued from authorized shares upon the lapsing of forfeiture restrictions of restricted stock by employees and nonemployee directors. In May 2014, 5,750,000 shares of our common stock were issued in a public offering. Because it is management’s stated intention to redeem the principal amount of our 1 3⁄4 % Senior Convertible Notes due 2017 (the “2017 Convertible Notes”) (see Note 4 – Long-Term Debt ) in cash, we have used the treasury method for determining dilution in the diluted earnings per share computation. For the three and nine months ended September 30, 2015 and the three months ended September 30, 2014, there was no dilutive effect on the diluted earnings per share computation because we had a net loss for such periods. For the three months ended June 30, 2014, the average price of our common stock exceeded the effective conversion price for such notes, resulting in a dilutive effect on the diluted earnings per share computation for the nine months ended September 30, 2014. For all periods presented, the average price of our common stock was less than the strike price of the Sold Warrants (as defined in Note 4 – Long-Term Debt ) and therefore, such warrants were not dilutive for such periods. Based on the terms of the Purchased Call Options (as defined in Note 4 – Long-Term Debt ), such call options are antidilutive and therefore were not included in the calculation of diluted earnings per share.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
Derivative Instruments and Hedging Activities	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Our hedging strategy is designed to protect our near and intermediate term cash flows from future declines in oil and natural gas prices. This protection is essential to capital budget planning, which is sensitive to expenditures that must be committed to in advance, such as rig contracts and the purchase of tubular goods. We enter into derivative transactions to secure a commodity price for a portion of our expected future production that is acceptable at the time of the transaction. These derivatives are generally designated as cash flow hedges upon entering into the contracts. We do not enter into derivative transactions for trading purposes. We have no fair value hedges. The nature of a derivative instrument must be evaluated to determine if it qualifies as a hedging instrument. If the instrument qualifies as a hedging instrument, it is recorded as either an asset or liability measured at fair value and subsequent changes in the derivative’s fair value are recognized in stockholders’ equity through other comprehensive income (loss), net of related taxes, to the extent the hedge is considered effective. Monthly settlements of effective hedges are reflected in revenue from oil and natural gas production and cash flows from operating activities. Instruments not qualifying as hedging instruments are recorded in our balance sheet at fair value and subsequent changes in fair value are recognized in earnings through derivative expense (income). Monthly settlements of ineffective hedges and derivative instruments not qualifying as hedging instruments are recognized in earnings through derivative expense (income) and cash flows from operating activities. We have entered into fixed-price swaps and costless collars with various counterparties for a portion of our expected 2015 and 2016 oil and natural gas production from the Gulf Coast Basin. Our fixed-price oil swap settlements and oil collar settlements are based on an average of the New York Mercantile Exchange (“NYMEX”) closing price for West Texas Intermediate crude oil during the entire calendar month. Our fixed-price gas swap settlements are based on the NYMEX price for the last day of a respective contract month. Swaps typically provide for monthly payments by us if prices rise above the swap price or monthly payments to us if prices fall below the swap price. Collar contracts typically require payments by us if the NYMEX average closing price is above the ceiling price or payments to us if the NYMEX average closing price is below the floor price. Our fixed-price swap contracts are with The Toronto-Dominion Bank, Barclays Bank PLC, The Bank of Nova Scotia, Bank of America and Natixis. Our oil collar contract is with The Bank of Nova Scotia. The following tables illustrate our derivative positions for calendar years 2015 and 2016 as of November 3, 2015 : Fixed-Price Swaps (NYMEX) Natural Gas Oil Daily Volume (MMBtus/d) Swap Price ($) Daily Volume (Bbls/d) Swap Price ($) 2015 10,000 4.005 1,000 89.00 2015 10,000 4.120 1,000 90.00 2015 10,000 4.150 1,000 90.25 2015 10,000 4.165 1,000 90.40 2015 10,000 4.220 1,000 91.05 2015 10,000 4.255 1,000 93.28 2015 1,000 93.37 2015 1,000 94.85 2015 1,000 95.00 2016 10,000 4.110 1,000 49.75 2016 10,000 4.120 1,000 52.78 2016 1,000 90.00 Costless Collar (NYMEX) Oil Daily Volume (Bbls/d) Floor Price ($) Ceiling Price ($) 2016 1,000 45.00 54.75 During 2014, certain of our natural gas derivative instruments no longer qualified as cash flow hedges, as it was no longer probable, subsequent to the sale of our non-core Gulf of Mexico (“GOM”) conventional shelf properties (see Note 7 – Divestitures ), that GOM natural gas production would be sufficient to cover the GOM volumes hedged. Accordingly, we discontinued hedge accounting for three natural gas contracts for the months of January through December 2015. Additionally, a small portion of our cash flow hedges are typically determined to be ineffective because oil and natural gas price changes in the markets in which we sell our products are not 100% correlative to changes in the underlying price basis indicative in the derivative contract. At September 30, 2015 , we had accumulated other comprehensive income of $41.1 million , net of tax, related to the fair value of our effective cash flow hedges that were outstanding as of September 30, 2015 . We believe that approximately $37.7 million , net of tax, of accumulated other comprehensive income will be reclassified into earnings in the next 12 months. Derivatives qualifying as hedging instruments: The following tables disclose the location and fair value amounts of derivatives qualifying as hedging instruments, as reported in our balance sheet, at September 30, 2015 and December 31, 2014 : Fair Value of Derivatives Qualifying as Hedging Instruments at September 30, 2015 (In millions) Asset Derivatives Liability Derivatives Description Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity contracts Current assets: Fair value of derivative contracts $ 61.4 Current liabilities: Fair value of derivative contracts $ — Long-term assets: Fair value of derivative contracts 5.7 Long-term liabilities: Fair value of derivative contracts 0.2 $ 67.1 $ 0.2 Fair Value of Derivatives Qualifying as Hedging Instruments at December 31, 2014 (In millions) Asset Derivatives Liability Derivatives Description Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity contracts Current assets: Fair value of derivative contracts $ 127.0 Current liabilities: Fair value of derivative contracts $ — Long-term assets: Fair value of derivative contracts 14.3 Long-term liabilities: Fair value of derivative contracts — $ 141.3 $ — The following tables disclose the before tax effect of derivatives qualifying as hedging instruments, as reported in the statement of operations, for the three and nine months ended September 30, 2015 and 2014 : Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Three Months Ended September 30, 2015 and 2014 (In millions) Derivatives in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a) Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion) 2015 2014 Location 2015 2014 Location 2015 2014 Commodity contracts $ 31.6 $ 47.1 Operating revenue - oil/natural gas production $ 39.9 $ (1.3 ) Derivative income (expense), net $ 1.2 $ 2.1 Total $ 31.6 $ 47.1 $ 39.9 $ (1.3 ) $ 1.2 $ 2.1 (a) For the three months ended September 30, 2015 , effective hedging contracts increased oil revenue by $36.3 million and increased natural gas revenue by $3.6 million . For the three months ended September 30, 2014 , effective hedging contracts (decreased) oil revenue by $1.3 million and had a minimal effect on natural gas revenue. Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Nine Months Ended September 30, 2015 and 2014 (In millions) Derivatives in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a) Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion) 2015 2014 Location 2015 2014 Location 2015 2014 Commodity contracts $ 35.7 $ 3.7 Operating revenue - oil/natural gas production $ 107.1 $ (17.6 ) Derivative income (expense), net $ 1.7 $ 0.5 Total $ 35.7 $ 3.7 $ 107.1 $ (17.6 ) $ 1.7 $ 0.5 (a) For the nine months ended September 30, 2015 , effective hedging contracts increased oil revenue by $96.8 million and increased natural gas revenue by $10.3 million . For the nine months ended September 30, 2014 , effective hedging contracts (decreased) oil revenue by $10.0 million and (decreased) natural gas revenue by $7.6 million . Derivatives not qualifying as hedging instruments: The following table discloses the location and fair value amounts of our derivatives not qualifying as hedging instruments, as reported in our balance sheet, at September 30, 2015 and December 31, 2014 : Fair Value of Derivatives Not Qualifying as Hedging Instruments (In millions) Description Balance Sheet Location September 30, December 31, Commodity contracts Current assets: Fair value of derivative contracts $ 4.3 $ 12.1 Gains or losses related to changes in fair value and cash settlements for derivatives not qualifying as hedging instruments are recorded as derivative income (expense) in the statement of operations. The following table discloses the before tax effect of our derivatives not qualifying as hedging instruments on the statement of operations, for the three and nine months ended September 30, 2015 and 2014 . Amount of Gain (Loss) Recognized in Derivative Income (Expense) (In millions) Three Months Ended Nine Months Ended Description 2015 2014 2015 2014 Commodity contracts: Cash settlements $ 3.8 $ 0.7 $ 11.0 $ 0.7 Change in fair value (2.6 ) 3.0 (7.9 ) 1.5 Total gains (losses) on non-qualifying hedges $ 1.2 $ 3.7 $ 3.1 $ 2.2 Offsetting of derivative assets and liabilities: Our derivative contracts are subject to netting arrangements. It is our policy to not offset our derivative contracts in presenting the fair value of these contracts as assets and liabilities in our balance sheet. The following table presents the potential impact of the offset rights associated with our recognized assets and liabilities at September 30, 2015 (in millions): As Presented Without Netting Effects of Netting With Effects of Netting Current assets: Fair value of derivative contracts $ 65.7 $ — $ 65.7 Long-term assets: Fair value of derivative contracts 5.7 (0.2 ) 5.5 Current liabilities: Fair value of derivative contracts — — — Long-term liabilities: Fair value of derivative contracts (0.2 ) 0.2 — As of December 31, 2014 , all of our derivative contracts were in an asset position and therefore, there was no potential impact of the rights of offset.

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Sep. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following at: September 30, December 31, (In millions) 1 3 ⁄ 4 % Senior Convertible Notes due 2017 $ 277.2 $ 266.0 7 1 ⁄ 2 % Senior Notes due 2022 775.0 775.0 Bank debt — — Total long-term debt $ 1,052.2 $ 1,041.0 Bank Debt. On June 24, 2014 , we entered into an amended and restated revolving credit facility with commitments totaling $900 million (subject to borrowing base limitations) through a syndicated bank group, replacing our previous facility. The bank credit facility matures on July 1, 2019 . On September 30, 2015, our borrowing base under the bank credit facility was $500 million , we had no outstanding borrowings and $19.2 million of letters of credit had been issued pursuant to the bank credit facility, leaving $480.8 million of availability under the bank credit facility. On October 13, 2015, our borrowing base under the bank credit facility was reaffirmed at $500 million . As of November 3, 2015 , we had no outstanding borrowings under the bank credit facility and $19.2 million of letters of credit had been issued pursuant to the bank credit facility, leaving $480.8 million of availability under the bank credit facility. Subject to certain exceptions, the bank credit facility is required to be guaranteed by all of our material domestic direct and indirect subsidiaries. As of September 30, 2015 , the bank credit facility was guaranteed by Stone Energy Offshore, L.L.C. (“Stone Offshore”), SEO A LLC and SEO B LLC (collectively, the “Guarantor Subsidiaries”). The borrowing base under the bank credit facility is redetermined semi-annually, typically in May and November, by the lenders, taking into consideration the estimated loan value of our oil and gas properties and those of our subsidiaries that guarantee the bank credit facility in accordance with the lenders’ customary practices for oil and gas loans. In addition, we and the lenders each have discretion at any time, but not more than two additional times in any calendar year, to have the borrowing base redetermined. If a reduction in our borrowing base were to fall below any outstanding balances under the bank credit facility plus any outstanding letters of credit, our agreement with the banks allows us one or more of three options to cure the borrowing base deficiency. We may (1) repay amounts outstanding sufficient to cure the deficiency within 10 days after our written election to do so; (2) add additional oil and gas properties acceptable to the banks to the borrowing base and take such actions necessary to grant the banks a mortgage in the properties within 30 days after our written election to do so; and/or (3) arrange to pay the deficiency in six equal monthly installments. The bank credit facility is collateralized by substantially all of the assets of Stone and its material subsidiaries. They are required to mortgage, and grant a security interest in, their oil and natural gas reserves representing at least 80% of the discounted present value of the future net cash flows from their proved oil and natural gas reserves reviewed in determining the borrowing base. Interest on loans under the bank credit facility is calculated using the London Interbank Offering (“LIBOR”) rate or the base rate, at the election of Stone. The margin for loans at the LIBOR rate is determined based on borrowing base utilization and ranges from 1.500% to 2.500% . The bank credit facility provides for optional and mandatory prepayments and affirmative and negative covenants, including interest coverage ratio and leverage ratio maintenance covenants. We were in compliance with all covenants as of September 30, 2015 . 2017 Convertible Notes. On March 6, 2012, we issued in a private offering $300 million in aggregate principal amount of the 2017 Convertible Notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The 2017 Convertible Notes are convertible into cash, shares of our common stock or a combination of cash and shares of our common stock, based on an initial conversion rate of 23.4449 shares of our common stock per $1,000 principal amount of 2017 Convertible Notes, which corresponds to an initial conversion price of approximately $42.65 per share of our common stock. On September 30, 2015 , our closing share price was $4.96 per share. The conversion rate, and thus the conversion price, may be adjusted under certain circumstances as described in the indenture related to the 2017 Convertible Notes. Upon conversion, we will be obligated to pay or deliver, as the case may be, cash, shares of our common stock or a combination of cash and shares of our common stock. Prior to December 1, 2016, the 2017 Convertible Notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the second scheduled trading day immediately preceding the maturity date. The 2017 Convertible Notes will be due on March 1, 2017, unless earlier converted or repurchased by us at the option of the holder(s). On the maturity date, each holder will be entitled to receive $1,000 in cash for each $1,000 in principal amount of 2017 Convertible Notes, together with any accrued and unpaid interest to, but excluding, the maturity date. In connection with the offering, we entered into convertible note hedge transactions with respect to our common stock (the “Purchased Call Options”) with Barclays Capital Inc., acting as agent for Barclays Bank PLC and Bank of America, N.A. (the “Dealers”). We paid an aggregate amount of approximately $70.8 million to the Dealers for the Purchased Call Options. The Purchased Call Options cover, subject to customary antidilution adjustments, approximately 7,033,470 shares of our common stock at a strike price that corresponds to the initial conversion price of the 2017 Convertible Notes, also subject to adjustment, and are exercisable upon conversion of the 2017 Convertible Notes. We also entered into separate warrant transactions whereby, in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act, we sold to the Dealers warrants to acquire, subject to customary antidilution adjustments, approximately 7,033,470 shares of our common stock (the “Sold Warrants”) at a strike price of $55.91 per share of our common stock. We received aggregate proceeds of approximately $40.1 million from the sale of the Sold Warrants to the Dealers. If, upon expiration of the Sold Warrants, the price per share of our common stock, as measured under the Sold Warrants, is greater than the strike price of the Sold Warrants, we will be required to issue, without further consideration, under each Sold Warrant a number of shares of our common stock with a value equal to the amount of such difference. As of September 30, 2015 , the carrying amount of the liability component of the 2017 Convertible Notes was $277.2 million . During the three and nine months ended September 30, 2015 , we recognized $3.8 million and $11.1 million , respectively, of interest expense for the amortization of the discount and $0.4 million and $1.1 million , respectively, of interest expense for the amortization of deferred financing costs related to the 2017 Convertible Notes. During the three and nine months ended September 30, 2014 , we recognized $3.5 million and $10.4 million , respectively, of interest expense for the amortization of the discount and $0.3 million and $1.0 million , respectively, of interest expense for the amortization of deferred financing costs related to the 2017 Convertible Notes. During the three and nine months ended September 30, 2015 , we recognized $1.3 million and $3.9 million , respectively, of interest expense related to the contractual interest coupon on the 2017 Convertible Notes. During the three and nine months ended September 30, 2014 , we recognized $1.3 million and $3.9 million , respectively, of interest expense related to the contractual interest coupon on the 2017 Convertible Notes.

Asset Retirement Obligations

Asset Retirement Obligations	9 Months Ended
Asset Retirement Obligations	Sep. 30, 2015
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The change in our asset retirement obligations during the nine months ended September 30, 2015 is set forth below: Nine Months Ended (In millions) Asset retirement obligations as of the beginning of the period, including current portion $ 316.4 Liabilities incurred 10.3 Liabilities settled (59.8 ) Accretion expense 19.3 Asset retirement obligations as of the end of the period, including current portion $ 286.2

Income Taxes Income Taxes

Income Taxes Income Taxes	9 Months Ended
Income Taxes Income Taxes	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and nine months ended September 30, 2015, we recorded income tax benefits of $15.8 million and $280.8 million , respectively. The income tax benefits were a result of our losses before income taxes attributable primarily to ceiling test write-downs of our oil and gas properties (see Note 10 - Investment in Oil and Gas Properties ). Our effective tax rate for the three and nine months ended September 30, 2015 was 5.1% and 26.7% , respectively. These percentages differed from the federal statutory rate of 35.0% primarily due to the establishment of a valuation allowance against deferred tax assets, state income taxes and other permanent differences. As a result of the significant declines in commodity prices and the resulting ceiling test write-downs and net losses incurred over the past four quarters, we determined that it was more likely than not that a portion of our deferred tax assets will not be realized in the future. Accordingly, we established a $96.5 million valuation allowance against a portion of our deferred tax assets in the third quarter of 2015. Our assessment of the realizability of our deferred tax assets is based on the weight of all available evidence, both positive and negative, including future reversals of deferred tax liabilities.

Divestitures

Divestitures	9 Months Ended
Divestitures	Sep. 30, 2015
Business Combinations [Abstract]
Divestitures	Divestitures On July 31, 2014, we completed the sale of certain of our non-core properties in the GOM conventional shelf for cash consideration of approximately $177.6 million , after giving effect to preliminary purchase price adjustments. All of the proceeds from this sale were deposited with a Qualified Intermediary (under the terms of a Qualified Trust Agreement and Exchange Agreement) for potential reinvestment in like-kind replacement property as defined under Section 1031 of the Internal Revenue Code and were included in our balance sheet as restricted cash at December 31, 2014. Compliance with provisions under the Qualified Trust Agreement and Exchange Agreement provided for deferral of taxable gain on these sales proceeds. We identified qualified replacement properties and had until January 27, 2015 to close on an acquisition of such properties in order to achieve deferral of our taxable gain. We did not close on such a transaction by January 27, 2015, and the funds were released from restrictions and reclassified to cash and cash equivalents at such date.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements U.S. Generally Accepted Accounting Principles establish a fair value hierarchy that has three levels based on the reliability of the inputs used to determine the fair value. These levels include: Level 1, defined as inputs such as unadjusted quoted prices in active markets for identical assets or liabilities; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for use when little or no market data exists, therefore requiring an entity to develop its own assumptions. As of September 30, 2015 and December 31, 2014 , we held certain financial assets and liabilities that are required to be measured at fair value on a recurring basis, including our commodity derivative instruments and our investments in marketable securities. We utilize the services of an independent third party to assist us in valuing our derivative instruments. We used the income approach in determining the fair value of our derivative instruments utilizing a proprietary pricing model. The model accounts for our credit risk and the credit risk of our counterparties in the discount rate applied to estimated future cash inflows and outflows. Our swap and collar contracts are included within the Level 2 fair value hierarchy. For a more detailed description of our derivative instruments, see Note 3 – Derivative Instruments and Hedging Activities . We used the market approach in determining the fair value of our investments in marketable securities, which are included within the Level 1 fair value hierarchy. The following tables present our assets and liabilities that are measured at fair value on a recurring basis at September 30, 2015 : Fair Value Measurements at September 30, 2015 Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In millions) Marketable securities (Other assets) $ 8.3 $ 8.3 $ — $ — Derivative contracts 71.4 — 71.4 — Total $ 79.7 $ 8.3 $ 71.4 $ — Fair Value Measurements at September 30, 2015 Liabilities Total Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In millions) Derivative contracts $ 0.2 $ — $ 0.2 $ — Total $ 0.2 $ — $ 0.2 $ — The following tables present our assets and liabilities that are measured at fair value on a recurring basis at December 31, 2014 : Fair Value Measurements at December 31, 2014 Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In millions) Marketable securities (Other assets) $ 8.4 $ 8.4 $ — $ — Derivative contracts 153.5 — 153.5 — Total $ 161.9 $ 8.4 $ 153.5 $ — Fair Value Measurements at December 31, 2014 Liabilities Total Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In millions) Derivative contracts $ — $ — $ — $ — Total $ — $ — $ — $ — The fair value of cash and cash equivalents approximated book value at September 30, 2015 and December 31, 2014 . As of September 30, 2015 and December 31, 2014 , the fair value of the liability component of the 2017 Convertible Notes was approximately $244.0 million and $252.6 million , respectively. As of September 30, 2015 and December 31, 2014 , the fair value of the 7 1 ⁄ 2 % Senior Notes due 2022 (the “2022 Notes”) was approximately $484.4 million and $664.6 million , respectively. The fair value of the 2022 Notes was determined based on quotes obtained from brokers, which represent Level 1 inputs. We applied fair value concepts in determining the liability component of the 2017 Convertible Notes (see Note 4 – Long-Term Debt ) at inception, September 30, 2015 and December 31, 2014 . The fair value of the liability was estimated using an income approach. The significant inputs in these determinations were market interest rates based on quotes obtained from brokers and represent Level 2 inputs.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
Accumulated Other Comprehensive Income (Loss)	Sep. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2015 were as follows (in millions): Cash Flow Hedges Foreign Currency Items Total Three Months Ended September 30, 2015 Beginning balance, net of tax $ 46.5 $ (5.8 ) $ 40.7 Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives 31.6 — 31.6 Foreign currency translations — (0.2 ) (0.2 ) Income tax effect (11.5 ) — (11.5 ) Net of tax 20.1 (0.2 ) 19.9 Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 39.9 — 39.9 Income tax effect (14.4 ) — (14.4 ) Net of tax 25.5 — 25.5 Other comprehensive income (loss), net of tax (5.4 ) (0.2 ) (5.6 ) Ending balance, net of tax $ 41.1 $ (6.0 ) $ 35.1 Cash Flow Hedges Foreign Currency Items Total Nine Months Ended September 30, 2015 Beginning balance, net of tax $ 86.8 $ (3.5 ) $ 83.3 Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives 35.7 — 35.7 Foreign currency translations — (2.5 ) (2.5 ) Income tax effect (12.8 ) — (12.8 ) Net of tax 22.9 (2.5 ) 20.4 Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 107.1 — 107.1 Income tax effect (38.5 ) — (38.5 ) Net of tax 68.6 — 68.6 Other comprehensive income (loss), net of tax (45.7 ) (2.5 ) (48.2 ) Ending balance, net of tax $ 41.1 $ (6.0 ) $ 35.1 Changes in accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2014 , were as follows (in millions): Cash Flow Hedges Foreign Currency Items Total Three Months Ended September 30, 2014 Beginning balance, net of tax $ (17.8 ) $ (0.4 ) $ (18.2 ) Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives 47.1 — 47.1 Foreign currency translations — (1.6 ) (1.6 ) Income tax effect (16.9 ) — (16.9 ) Net of tax 30.2 (1.6 ) 28.6 Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production (1.3 ) — (1.3 ) Income tax effect 0.5 — 0.5 Net of tax (0.8 ) — (0.8 ) Other comprehensive income (loss), net of tax 31.0 (1.6 ) 29.4 Ending balance, net of tax $ 13.2 $ (2.0 ) $ 11.2 Cash Flow Hedges Foreign Currency Items Total Nine Months Ended September 30, 2014 Beginning balance, net of tax $ (1.4 ) $ (0.7 ) $ (2.1 ) Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives 3.7 — 3.7 Foreign currency translations — (1.3 ) (1.3 ) Income tax effect (1.2 ) — (1.2 ) Net of tax 2.5 (1.3 ) 1.2 Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production (17.6 ) — (17.6 ) Derivative expense, net (1.5 ) — (1.5 ) Income tax effect 7.0 — 7.0 Net of tax (12.1 ) — (12.1 ) Other comprehensive income (loss), net of tax 14.6 (1.3 ) 13.3 Ending balance, net of tax $ 13.2 $ (2.0 ) $ 11.2

Investment in Oil and Gas Prope

Investment in Oil and Gas Properties	9 Months Ended
Investment in Oil and Gas Properties	Sep. 30, 2015
Extractive Industries [Abstract]
Investment in Oil and Gas Properties	Investment in Oil and Gas Properties Under the full cost method of accounting, we compare, at the end of each financial reporting period, the present value of estimated future net cash flows from proved reserves (adjusted for hedges and excluding cash flows related to estimated abandonment costs) to the net capitalized costs of proved oil and gas properties, net of related deferred taxes. We refer to this comparison as a ceiling test. If the net capitalized costs of proved oil and gas properties exceed the estimated discounted future net cash flows from proved reserves, we are required to write down the value of our oil and gas properties to the value of the discounted cash flows. At September 30, 2015, our ceiling test computation resulted in a write-down of our U.S. oil and gas properties of $295.7 million based on twelve-month average prices, net of applicable differentials, of $57.76 per barrel of oil, $2.44 per Mcf of natural gas and $23.04 per barrel of natural gas liquids ("NGLs"). The write-down at September 30, 2015 was decreased by $42.7 million as a result of hedges. At June 30, 2015, our ceiling test computation resulted in a write-down of our U.S. oil and gas properties of $179.1 million based on twelve-month average prices, net of applicable differentials, of $68.68 per barrel of oil, $2.47 per Mcf of natural gas and $29.13 per barrel of NGLs. The write-down at June 30, 2015 was decreased by $47.8 million as a result of hedges. At March 31, 2015, our ceiling test computation resulted in a write-down of our U.S. oil and gas properties of $491.4 million based on twelve-month average prices, net of applicable differentials, of $78.99 per barrel of oil, $2.96 per Mcf of natural gas and $28.82 per barrel of NGLs. The write-down at March 31, 2015 was decreased by $28.7 million as a result of hedges. In April 2013, we entered into an agreement to participate in the drilling of exploratory wells in Canada. Upon a more complete evaluation of this project and in response to the significant decline in commodity prices over the last several months, we have suspended our business development effort in Canada. Accordingly, at June 30, 2015, we recognized a write-down of our Canadian oil and gas properties of $45.2 million .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are named as a party in certain lawsuits and regulatory proceedings arising in the ordinary course of business. We do not expect that these matters, individually or in the aggregate, will have a material adverse effect on our financial condition. On August 2, 2013, Kimmeridge Energy Exploration Fund, L.P. (“Kimmeridge”) filed a lawsuit against Stone in the 15t h Judicial District Court in Lafayette Parish, Louisiana seeking damages in the amount of $18,372,819 plus interest, costs and attorney fees. Kimmeridge alleged that Stone was obligated to pay Kimmeridge (1) $1,118,878 for brokerage costs incurred pursuant to a letter of understanding and (2) $17,253,941 pursuant to a letter of intent which, according to Kimmeridge’s pleadings, required Stone to negotiate in good faith and close an acquisition of mineral interests in the Illinois basin. The court granted summary judgment in favor of Stone, limiting damages on Kimmeridge’s $17,253,941 claim to $1,000,000 and reducing Stone’s exposure at trial for both claims to $2,118,878 . During the three months ended June 30, 2015, Stone and Kimmeridge settled both claims for an amount within the previously disclosed range of loss (between $0 and $2,118,878 ).

Guarantor Financial Statements

Guarantor Financial Statements	9 Months Ended
Guarantor Financial Statements	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Guarantor Financial Statements	Guarantor Financial Statements Our Guarantor Subsidiaries, including Stone Offshore, SEO A LLC and SEO B LLC, are unconditional guarantors of the 2017 Convertible Notes and the 2022 Notes. Our other subsidiaries (the “Non-Guarantor Subsidiaries”) have not provided guarantees. The following presents unaudited condensed consolidating financial information as of September 30, 2015 and December 31, 2014 and for the three and nine month periods ended September 30, 2015 and 2014 on an issuer (parent company), Guarantor Subsidiaries, Non-Guarantor Subsidiaries and consolidated basis. Elimination entries presented are necessary to combine the entities. CONDENSED CONSOLIDATING BALANCE SHEET SEPTEMBER 30, 2015 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 63,322 $ 10,042 $ 1,110 $ — $ 74,474 Accounts receivable 25,445 88,193 13 (55,792 ) 57,859 Fair value of derivative contracts — 65,700 — — 65,700 Inventory 3,426 283 — — 3,709 Other current assets 9,162 — 41 — 9,203 Total current assets 101,355 164,218 1,164 (55,792 ) 210,945 Oil and gas properties, full cost method: Proved 1,821,870 7,341,224 41,599 — 9,204,693 Less: accumulated DD&A (2,046,465 ) (6,111,909 ) (41,599 ) — (8,199,973 ) Net proved oil and gas properties (224,595 ) 1,229,315 — — 1,004,720 Unevaluated 301,501 215,085 2,377 — 518,963 Other property and equipment, net 30,327 — — — 30,327 Fair value of derivative contracts — 5,734 — — 5,734 Other assets, net 24,217 1,191 215 — 25,623 Investment in subsidiary 1,280,184 — 3,590 (1,283,774 ) — Total assets $ 1,512,989 $ 1,615,543 $ 7,346 $ (1,339,566 ) $ 1,796,312 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 66,623 $ 45,487 $ 9,736 $ (55,792 ) $ 66,054 Undistributed oil and gas proceeds 9,644 817 — — 10,461 Accrued interest 22,241 — — — 22,241 Asset retirement obligations — 42,624 — — 42,624 Other current liabilities 41,575 559 — — 42,134 Total current liabilities 140,083 89,487 9,736 (55,792 ) 183,514 Long-term debt 1,052,183 — — — 1,052,183 Asset retirement obligations 3,847 239,720 — — 243,567 Fair value of derivative contracts — 172 — — 172 Other long-term liabilities 25,347 — — — 25,347 Total liabilities 1,221,460 329,379 9,736 (55,792 ) 1,504,783 Commitments and contingencies Stockholders’ equity: Common stock 553 — — — 553 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,643,746 1,367,434 100,047 (1,467,481 ) 1,643,746 Accumulated deficit (1,386,967 ) (122,362 ) (90,368 ) 212,730 (1,386,967 ) Accumulated other comprehensive income (loss) 35,057 41,092 (12,069 ) (29,023 ) 35,057 Total stockholders’ equity 291,529 1,286,164 (2,390 ) (1,283,774 ) 291,529 Total liabilities and stockholders’ equity $ 1,512,989 $ 1,615,543 $ 7,346 $ (1,339,566 ) $ 1,796,312 CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2014 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 72,886 $ 1,450 $ 152 $ — $ 74,488 Restricted cash 177,647 — — — 177,647 Accounts receivable 73,711 46,615 33 — 120,359 Fair value of derivative contracts — 139,179 — — 139,179 Current income tax receivable 7,212 — — — 7,212 Deferred taxes * 4,095 — — (4,095 ) — Inventory 1,011 2,698 — — 3,709 Other current assets 8,112 — 6 — 8,118 Total current assets 344,674 189,942 191 (4,095 ) 530,712 Oil and gas properties, full cost method: Proved 1,689,802 7,127,466 — — 8,817,268 Less: accumulated DD&A (970,387 ) (6,000,244 ) — — (6,970,631 ) Net proved oil and gas properties 719,415 1,127,222 — — 1,846,637 Unevaluated 289,556 241,230 36,579 — 567,365 Other property and equipment, net 32,340 — — — 32,340 Fair value of derivative contracts — 14,333 — — 14,333 Other assets, net 20,857 1,360 5,007 — 27,224 Investment in subsidiary 1,050,546 — 41,638 (1,092,184 ) — Total assets $ 2,457,388 $ 1,574,087 $ 83,415 $ (1,096,279 ) $ 3,018,611 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 74,756 $ 57,873 $ — $ — $ 132,629 Undistributed oil and gas proceeds 22,158 1,074 — — 23,232 Accrued interest 9,022 — — — 9,022 Deferred taxes * — 24,214 — (4,095 ) 20,119 Asset retirement obligations — 69,400 — — 69,400 Other current liabilities 49,306 199 — — 49,505 Total current liabilities 155,242 152,760 — (4,095 ) 303,907 Long-term debt 1,041,035 — — — 1,041,035 Deferred taxes * 117,206 169,137 — — 286,343 Asset retirement obligations 3,588 243,421 — — 247,009 Other long-term liabilities 38,714 — — — 38,714 Total liabilities 1,355,785 565,318 — (4,095 ) 1,917,008 Commitments and contingencies Stockholders’ equity: Common stock 549 — — — 549 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,633,307 1,362,684 90,339 (1,453,023 ) 1,633,307 Accumulated earnings (deficit) (614,708 ) (440,699 ) 12 440,687 (614,708 ) Accumulated other comprehensive income (loss) 83,315 86,784 (6,936 ) (79,848 ) 83,315 Total stockholders’ equity 1,101,603 1,008,769 83,415 (1,092,184 ) 1,101,603 Total liabilities and stockholders’ equity $ 2,457,388 $ 1,574,087 $ 83,415 $ (1,096,279 ) $ 3,018,611 * Deferred income taxes have been allocated to our Guarantor Subsidiaries where related oil and gas properties reside. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2015 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 1,633 $ 103,380 $ — $ — $ 105,013 Natural gas production 7,111 10,256 — — 17,367 Natural gas liquids production 3,502 2,478 — — 5,980 Other operational income 1,392 — — — 1,392 Derivative income, net — 2,444 — — 2,444 Total operating revenue 13,638 118,558 — — 132,196 Operating expenses: Lease operating expenses 2,680 21,562 2 — 24,244 Transportation, processing and gathering expenses 13,697 4,511 — — 18,208 Production taxes 1,777 275 — — 2,052 Depreciation, depletion and amortization 27,518 34,418 — — 61,936 Write-down of oil and gas properties 295,679 — — — 295,679 Accretion expense 92 6,406 — — 6,498 Salaries, general and administrative expenses 19,348 200 4 — 19,552 Incentive compensation expense 794 — — — 794 Other operational expenses 142 300 — — 442 Total operating expenses 361,727 67,672 6 — 429,405 Income (loss) from operations (348,089 ) 50,886 (6 ) — (297,209 ) Other (income) expenses: Interest expense 10,871 1 — — 10,872 Interest income (39 ) (7 ) (1 ) — (47 ) Other income (117 ) (294 ) — — (411 ) Other expense 148 — — — 148 (Income) loss from investment in subsidiaries (227,973 ) — 16,272 211,701 — Total other (income) expenses (217,110 ) (300 ) 16,271 211,701 10,562 Income (loss) before taxes (130,979 ) 51,186 (16,277 ) (211,701 ) (307,771 ) Provision (benefit) for income taxes: Deferred 160,986 (193,059 ) 16,267 — (15,806 ) Total income taxes 160,986 (193,059 ) 16,267 — (15,806 ) Net income (loss) $ (291,965 ) $ 244,245 $ (32,544 ) $ (211,701 ) $ (291,965 ) Comprehensive income (loss) $ (297,564 ) $ 244,245 $ (32,544 ) $ (211,701 ) $ (297,564 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2014 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 11,692 $ 112,103 $ — $ — $ 123,795 Natural gas production 16,001 14,153 — — 30,154 Natural gas liquids production 15,820 5,194 — — 21,014 Other operational income 2,417 51 — — 2,468 Derivative income, net — 5,782 — — 5,782 Total operating revenue 45,930 137,283 — — 183,213 Operating expenses: Lease operating expenses 5,619 37,942 — — 43,561 Transportation, processing and gathering expenses 14,379 2,342 — — 16,721 Production taxes 2,936 715 — — 3,651 Depreciation, depletion and amortization 36,598 43,693 — — 80,291 Write-down of oil and gas properties 47,130 — — — 47,130 Accretion expense 56 6,483 — — 6,539 Salaries, general and administrative expenses 16,273 1 12 — 16,286 Incentive compensation expense 3,092 — — — 3,092 Other operational expenses 294 4 — — 298 Total operating expenses 126,377 91,180 12 — 217,569 Income (loss) from operations (80,447 ) 46,103 (12 ) — (34,356 ) Other (income) expenses: Interest expense 10,316 7 — — 10,323 Interest income (76 ) (82 ) (11 ) — (169 ) Other income (164 ) (531 ) — — (695 ) Other expense 95 — — — 95 (Income) loss from investment in subsidiaries (29,894 ) — 2 29,892 — Total other (income) expenses (19,723 ) (606 ) (9 ) 29,892 9,554 Income (loss) before taxes (60,724 ) 46,709 (3 ) (29,892 ) (43,910 ) Provision (benefit) for income taxes: Deferred (31,309 ) 16,814 — — (14,495 ) Total income taxes (31,309 ) 16,814 — — (14,495 ) Net income (loss) $ (29,415 ) $ 29,895 $ (3 ) $ (29,892 ) $ (29,415 ) Comprehensive income (loss) $ (65 ) $ 29,895 $ (3 ) $ (29,892 ) $ (65 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2015 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 12,487 $ 311,618 $ — $ — $ 324,105 Natural gas production 39,375 33,236 — — 72,611 Natural gas liquids production 21,458 7,921 — — 29,379 Other operational income 3,184 — — — 3,184 Derivative income, net — 4,871 — — 4,871 Total operating revenue 76,504 357,646 — — 434,150 Operating expenses: Lease operating expenses 12,767 66,481 2 — 79,250 Transportation, processing and gathering expenses 47,779 8,072 — — 55,851 Production taxes 5,411 983 — — 6,394 Depreciation, depletion and amortization 113,682 112,627 — — 226,309 Write-down of oil and gas properties 966,216 — 45,169 — 1,011,385 Accretion expense 274 19,041 — — 19,315 Salaries, general and administrative expenses 52,747 201 29 — 52,977 Incentive compensation expense 3,621 — — — 3,621 Other operational expenses 1,312 300 — — 1,612 Total operating expenses 1,203,809 207,705 45,200 — 1,456,714 Income (loss) from operations (1,127,305 ) 149,941 (45,200 ) — (1,022,564 ) Other (income) expenses: Interest expense 31,687 22 — — 31,709 Interest income (186 ) (42 ) (7 ) — (235 ) Other income (437 ) (727 ) (3 ) — (1,167 ) Other expense 148 — — — 148 (Income) loss from investment in subsidiaries (273,147 ) — 45,190 227,957 — Total other (income) expenses (241,935 ) (747 ) 45,180 227,957 30,455 Income (loss) before taxes (885,370 ) 150,688 (90,380 ) (227,957 ) (1,053,019 ) Provision (benefit) for income taxes: Deferred (113,111 ) (167,649 ) — — (280,760 ) Total income taxes (113,111 ) (167,649 ) — — (280,760 ) Net income (loss) $ (772,259 ) $ 318,337 $ (90,380 ) $ (227,957 ) $ (772,259 ) Comprehensive income (loss) $ (820,517 ) $ 318,337 $ (90,380 ) $ (227,957 ) $ (820,517 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2014 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 24,182 $ 380,295 $ — $ — $ 404,477 Natural gas production 65,640 67,543 — — 133,183 Natural gas liquids production 44,293 20,627 — — 64,920 Other operational income 5,121 394 — — 5,515 Derivative income, net — 2,667 — — 2,667 Total operating revenue 139,236 471,526 — — 610,762 Operating expenses: Lease operating expenses 14,678 125,240 — — 139,918 Transportation, processing and gathering expenses 35,152 10,293 — — 45,445 Production taxes 6,520 3,450 — — 9,970 Depreciation, depletion and amortization 95,038 160,734 — — 255,772 Write-down of oil and gas properties 47,130 — — — 47,130 Accretion expense 185 21,642 — — 21,827 Salaries, general and administrative expenses 49,237 3 12 — 49,252 Incentive compensation expense 10,129 — — — 10,129 Other operational expenses 470 40 — — 510 Total operating expenses 258,539 321,402 12 — 579,953 Income (loss) from operations (119,303 ) 150,124 (12 ) — 30,809 Other (income) expenses: Interest expense 28,549 44 — — 28,593 Interest income (301 ) (181 ) (23 ) — (505 ) Other income (537 ) (1,587 ) — — (2,124 ) Other expense 274 — — — 274 Income from investment in subsidiaries (97,186 ) — (10 ) 97,196 — Total other (income) expenses (69,201 ) (1,724 ) (33 ) 97,196 26,238 Income (loss) before taxes (50,102 ) 151,848 21 (97,196 ) 4,571 Provision (benefit) for income taxes: Deferred (51,074 ) 54,673 — — 3,599 Total income taxes (51,074 ) 54,673 — — 3,599 Net income $ 972 $ 97,175 $ 21 $ (97,196 ) $ 972 Comprehensive income $ 14,223 $ 97,175 $ 21 $ (97,196 ) $ 14,223 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2015 (In thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (772,259 ) $ 318,337 $ (90,380 ) $ (227,957 ) $ (772,259 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation, depletion and amortization 113,682 112,627 — — 226,309 Write-down of oil and gas properties 966,216 — 45,169 — 1,011,385 Accretion expense 274 19,041 — — 19,315 Deferred income tax benefit (113,111 ) (167,649 ) — — (280,760 ) Settlement of asset retirement obligations (15 ) (59,811 ) — — (59,826 ) Non-cash stock compensation expense 9,163 — — — 9,163 Non-cash derivative expense — 10,854 — — 10,854 Non-cash interest expense 13,210 — — — 13,210 Change in current income taxes 7,211 — — — 7,211 Non-cash (income) expense from investment in subsidiaries (273,147 ) — 45,190 227,957 — Change in intercompany receivables/payables 31,320 (41,056 ) 9,736 — — Decrease in accounts receivable 29,561 4,317 17 — 33,895 Increase in other current assets (1,050 ) — (40 ) — (1,090 ) (Increase) decrease in inventory (2,415 ) 2,415 — — — Decrease in accounts payable (7,562 ) (4,030 ) — — (11,592 ) Increase (decrease) in other current liabilities (6,855 ) 102 — — (6,753 ) Other 645 (727 ) (82 ) Net cash (used in) provided by operating activities (5,132 ) 194,420 9,692 — 198,980 Cash flows from investing activities: Investment in oil and gas properties (177,497 ) (197,471 ) (10,560 ) — (385,528 ) Proceeds from sale of oil and gas properties, net of expenses — 11,643 — — 11,643 Investment in fixed and other assets (1,455 ) — — — (1,455 ) Change in restricted funds 177,647 — 1,828 — 179,475 Investment in subsidiaries — — (9,708 ) 9,708 — Net cash used in investing activities (1,305 ) (185,828 ) (18,440 ) 9,708 (195,865 ) Cash flows from financing activities: Proceeds from bank borrowings 5,000 — — — 5,000 Repayments of bank borrowings (5,000 ) — — — (5,000 ) Equity proceeds from parent — — 9,708 (9,708 ) — Net payments for share-based compensation (3,127 ) — — — (3,127 ) Net cash (used in) provided by financing activities (3,127 ) — 9,708 (9,708 ) (3,127 ) Effect of exchange rate changes on cash — — (2 ) — (2 ) Net change in cash and cash equivalents (9,564 ) 8,592 958 — (14 ) Cash and cash equivalents, beginning of period 72,886 1,450 152 — 74,488 Cash and cash equivalents, end of period $ 63,322 $ 10,042 $ 1,110 $ — $ 74,474 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2014 (In thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net income $ 972 $ 97,175 $ 21 $ (97,196 ) $ 972 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, depletion and amortization 95,038 160,734 — — 255,772 Write-down of oil and gas properties 47,130 — — — 47,130 Accretion expense 185 21,642 — — 21,827 Deferred income tax (benefit) provision (51,074 ) 54,673 — — 3,599 Settlement of asset retirement obligations (84 ) (47,133 ) — — (47,217 ) Non-cash stock compensation expense 8,409 — — — 8,409 Non-cash derivative income — (2,386 ) — — (2,386 ) Non-cash interest expense 12,393 — — — 12,393 Change in current income taxes (6 ) — — — (6 ) Non-cash income from investment in subsidiaries (97,185 ) — (11 ) 97,196 — Change in intercompany receivables/payables (119,004 ) 90,313 28,691 — — (Increase) decrease in accounts receivable 125,593 (127,363 ) (35 ) — (1,805 ) Increase in other current assets (2 ) — (8 ) — (10 ) Increase (decrease) in accounts payable 900 (4,447 ) — — (3,547 ) Increase (decrease) in other current liabilities 39,329 (1,888 ) — — 37,441 Other 1,414 (1,586 ) — — (172 ) Net cash provided by operating activities 64,008 239,734 28,658 — 332,400 Cash flows from investing activities: Investment in oil and gas properties (225,831 ) (480,686 ) (20,971 ) — (727,488 ) Proceeds from sale of oil and gas properties, net of expenses 12,197 211,102 — — 223,299 Investment in fixed and other assets (8,790 ) — — — (8,790 ) Change in restricted funds (177,647 ) — (8,105 ) — (185,752 ) Investment in subsidiaries — — (29,253 ) 29,253 — Net cash used in investing activities (400,071 ) (269,584 ) (58,329 ) 29,253 (698,731 ) Cash flows from financing activities: Net proceeds from issuance of common stock 225,999 — — — 225,999 Deferred financing costs (3,329 ) — — — (3,329 ) Equity proceeds from parent — — 29,253 (29,253 ) — Net payments for share-based compensation (7,161 ) — — — (7,161 ) Net cash provided by financing activities 215,509 — 29,253 (29,253 ) 215,509 Effect of exchange rate on cash — — (95 ) — (95 ) Net change in cash and cash equivalents (120,554 ) (29,850 ) (513 ) — (150,917 ) Cash and cash equivalents, beginning of period 246,294 84,290 640 — 331,224 Cash and cash equivalents, end of period $ 125,740 $ 54,440 $ 127 $ — $ 180,307

Earnings Per Share (Policies)

Earnings Per Share (Policies)	9 Months Ended
Earnings Per Share (Policies)	Sep. 30, 2015
Earnings Per Share [Abstract]
Earning Per Share	Because it is management’s stated intention to redeem the principal amount of our 1 3⁄4 % Senior Convertible Notes due 2017 (the “2017 Convertible Notes”) (see Note 4 – Long-Term Debt ) in cash, we have used the treasury method for determining dilution in the diluted earnings per share computation. For the three and nine months ended September 30, 2015 and the three months ended September 30, 2014, there was no dilutive effect on the diluted earnings per share computation because we had a net loss for such periods. For the three months ended June 30, 2014, the average price of our common stock exceeded the effective conversion price for such notes, resulting in a dilutive effect on the diluted earnings per share computation for the nine months ended September 30, 2014. For all periods presented, the average price of our common stock was less than the strike price of the Sold Warrants (as defined in Note 4 – Long-Term Debt ) and therefore, such warrants were not dilutive for such periods. Based on the terms of the Purchased Call Options (as defined in Note 4 – Long-Term Debt ), such call options are antidilutive and therefore were not included in the calculation of diluted earnings per share.
Derivative Instruments and Hedging Activities	The nature of a derivative instrument must be evaluated to determine if it qualifies as a hedging instrument. If the instrument qualifies as a hedging instrument, it is recorded as either an asset or liability measured at fair value and subsequent changes in the derivative’s fair value are recognized in stockholders’ equity through other comprehensive income (loss), net of related taxes, to the extent the hedge is considered effective. Monthly settlements of effective hedges are reflected in revenue from oil and natural gas production and cash flows from operating activities. Instruments not qualifying as hedging instruments are recorded in our balance sheet at fair value and subsequent changes in fair value are recognized in earnings through derivative expense (income). Monthly settlements of ineffective hedges and derivative instruments not qualifying as hedging instruments are recognized in earnings through derivative expense (income) and cash flows from operating activities.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2015
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Weighted Average Shares Outstanding Earnings Per Share	The following table sets forth the calculation of basic and diluted weighted average shares outstanding and earnings per share for the indicated periods: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In thousands, except per share data) Income (numerator): Basic: Net income (loss) $ (291,965 ) $ (29,415 ) $ (772,259 ) $ 972 Net income attributable to participating securities — — — (22 ) Net income (loss) attributable to common stock - basic $ (291,965 ) $ (29,415 ) $ (772,259 ) $ 950 Diluted: Net income (loss) $ (291,965 ) $ (29,415 ) $ (772,259 ) $ 972 Net income attributable to participating securities — — — (22 ) Net income (loss) attributable to common stock - diluted $ (291,965 ) $ (29,415 ) $ (772,259 ) $ 950 Weighted average shares (denominator): Weighted average shares - basic 55,282 54,866 55,238 51,998 Dilutive effect of stock options — — — 53 Dilutive effect of convertible notes — — — 88 Weighted average shares - diluted 55,282 54,866 55,238 52,139 Basic earnings (loss) per share $ (5.28 ) $ (0.54 ) $ (13.98 ) $ 0.02 Diluted earnings (loss) per share $ (5.28 ) $ (0.54 ) $ (13.98 ) $ 0.02

Derivative Instruments and He21

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
Derivative Instruments and Hedging Activities (Tables)	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Positions	The following tables illustrate our derivative positions for calendar years 2015 and 2016 as of November 3, 2015 : Fixed-Price Swaps (NYMEX) Natural Gas Oil Daily Volume (MMBtus/d) Swap Price ($) Daily Volume (Bbls/d) Swap Price ($) 2015 10,000 4.005 1,000 89.00 2015 10,000 4.120 1,000 90.00 2015 10,000 4.150 1,000 90.25 2015 10,000 4.165 1,000 90.40 2015 10,000 4.220 1,000 91.05 2015 10,000 4.255 1,000 93.28 2015 1,000 93.37 2015 1,000 94.85 2015 1,000 95.00 2016 10,000 4.110 1,000 49.75 2016 10,000 4.120 1,000 52.78 2016 1,000 90.00 Costless Collar (NYMEX) Oil Daily Volume (Bbls/d) Floor Price ($) Ceiling Price ($) 2016 1,000 45.00 54.75
Location and Fair Value Amounts of Derivative Instruments Reported in Balance Sheet	The following tables disclose the location and fair value amounts of derivatives qualifying as hedging instruments, as reported in our balance sheet, at September 30, 2015 and December 31, 2014 : Fair Value of Derivatives Qualifying as Hedging Instruments at September 30, 2015 (In millions) Asset Derivatives Liability Derivatives Description Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity contracts Current assets: Fair value of derivative contracts $ 61.4 Current liabilities: Fair value of derivative contracts $ — Long-term assets: Fair value of derivative contracts 5.7 Long-term liabilities: Fair value of derivative contracts 0.2 $ 67.1 $ 0.2 Fair Value of Derivatives Qualifying as Hedging Instruments at December 31, 2014 (In millions) Asset Derivatives Liability Derivatives Description Balance Sheet Location Fair Value Balance Sheet Location Fair Value Commodity contracts Current assets: Fair value of derivative contracts $ 127.0 Current liabilities: Fair value of derivative contracts $ — Long-term assets: Fair value of derivative contracts 14.3 Long-term liabilities: Fair value of derivative contracts — $ 141.3 $ —
Before Tax Effect of Derivative Instruments in Statement of Operations	The following tables disclose the before tax effect of derivatives qualifying as hedging instruments, as reported in the statement of operations, for the three and nine months ended September 30, 2015 and 2014 : Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Three Months Ended September 30, 2015 and 2014 (In millions) Derivatives in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a) Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion) 2015 2014 Location 2015 2014 Location 2015 2014 Commodity contracts $ 31.6 $ 47.1 Operating revenue - oil/natural gas production $ 39.9 $ (1.3 ) Derivative income (expense), net $ 1.2 $ 2.1 Total $ 31.6 $ 47.1 $ 39.9 $ (1.3 ) $ 1.2 $ 2.1 (a) For the three months ended September 30, 2015 , effective hedging contracts increased oil revenue by $36.3 million and increased natural gas revenue by $3.6 million . For the three months ended September 30, 2014 , effective hedging contracts (decreased) oil revenue by $1.3 million and had a minimal effect on natural gas revenue. Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Nine Months Ended September 30, 2015 and 2014 (In millions) Derivatives in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a) Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion) 2015 2014 Location 2015 2014 Location 2015 2014 Commodity contracts $ 35.7 $ 3.7 Operating revenue - oil/natural gas production $ 107.1 $ (17.6 ) Derivative income (expense), net $ 1.7 $ 0.5 Total $ 35.7 $ 3.7 $ 107.1 $ (17.6 ) $ 1.7 $ 0.5 (a) For the nine months ended September 30, 2015 , effective hedging contracts increased oil revenue by $96.8 million and increased natural gas revenue by $10.3 million . For the nine months ended September 30, 2014 , effective hedging contracts (decreased) oil revenue by $10.0 million and (decreased) natural gas revenue by $7.6 million .
Location and Fair Value Amounts of Derivative Instruments Not Qualifying as Hedging Instruments Reported in Balance Sheet	The following table discloses the location and fair value amounts of our derivatives not qualifying as hedging instruments, as reported in our balance sheet, at September 30, 2015 and December 31, 2014 : Fair Value of Derivatives Not Qualifying as Hedging Instruments (In millions) Description Balance Sheet Location September 30, December 31, Commodity contracts Current assets: Fair value of derivative contracts $ 4.3 $ 12.1
Gains or Losses Related to Changes in Fair Value and Cash Settlements on Derivatives Not Qualifying as Hedging Instruments	Gains or losses related to changes in fair value and cash settlements for derivatives not qualifying as hedging instruments are recorded as derivative income (expense) in the statement of operations. The following table discloses the before tax effect of our derivatives not qualifying as hedging instruments on the statement of operations, for the three and nine months ended September 30, 2015 and 2014 . Amount of Gain (Loss) Recognized in Derivative Income (Expense) (In millions) Three Months Ended Nine Months Ended Description 2015 2014 2015 2014 Commodity contracts: Cash settlements $ 3.8 $ 0.7 $ 11.0 $ 0.7 Change in fair value (2.6 ) 3.0 (7.9 ) 1.5 Total gains (losses) on non-qualifying hedges $ 1.2 $ 3.7 $ 3.1 $ 2.2
Offsetting Assets	The following table presents the potential impact of the offset rights associated with our recognized assets and liabilities at September 30, 2015 (in millions): As Presented Without Netting Effects of Netting With Effects of Netting Current assets: Fair value of derivative contracts $ 65.7 $ — $ 65.7 Long-term assets: Fair value of derivative contracts 5.7 (0.2 ) 5.5 Current liabilities: Fair value of derivative contracts — — — Long-term liabilities: Fair value of derivative contracts (0.2 ) 0.2 —
Offsetting Liabilities	The following table presents the potential impact of the offset rights associated with our recognized assets and liabilities at September 30, 2015 (in millions): As Presented Without Netting Effects of Netting With Effects of Netting Current assets: Fair value of derivative contracts $ 65.7 $ — $ 65.7 Long-term assets: Fair value of derivative contracts 5.7 (0.2 ) 5.5 Current liabilities: Fair value of derivative contracts — — — Long-term liabilities: Fair value of derivative contracts (0.2 ) 0.2 —

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consisted of the following at: September 30, December 31, (In millions) 1 3 ⁄ 4 % Senior Convertible Notes due 2017 $ 277.2 $ 266.0 7 1 ⁄ 2 % Senior Notes due 2022 775.0 775.0 Bank debt — — Total long-term debt $ 1,052.2 $ 1,041.0

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
Asset Retirement Obligations (Tables)	Sep. 30, 2015
Asset Retirement Obligation Disclosure [Abstract]
Changes in Asset Retirement Obligations	The change in our asset retirement obligations during the nine months ended September 30, 2015 is set forth below: Nine Months Ended (In millions) Asset retirement obligations as of the beginning of the period, including current portion $ 316.4 Liabilities incurred 10.3 Liabilities settled (59.8 ) Accretion expense 19.3 Asset retirement obligations as of the end of the period, including current portion $ 286.2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value Recurring Basis	The following tables present our assets and liabilities that are measured at fair value on a recurring basis at September 30, 2015 : Fair Value Measurements at September 30, 2015 Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In millions) Marketable securities (Other assets) $ 8.3 $ 8.3 $ — $ — Derivative contracts 71.4 — 71.4 — Total $ 79.7 $ 8.3 $ 71.4 $ — Fair Value Measurements at September 30, 2015 Liabilities Total Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In millions) Derivative contracts $ 0.2 $ — $ 0.2 $ — Total $ 0.2 $ — $ 0.2 $ — The following tables present our assets and liabilities that are measured at fair value on a recurring basis at December 31, 2014 : Fair Value Measurements at December 31, 2014 Assets Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In millions) Marketable securities (Other assets) $ 8.4 $ 8.4 $ — $ — Derivative contracts 153.5 — 153.5 — Total $ 161.9 $ 8.4 $ 153.5 $ — Fair Value Measurements at December 31, 2014 Liabilities Total Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In millions) Derivative contracts $ — $ — $ — $ — Total $ — $ — $ — $ —

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Sep. 30, 2015
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income Loss	Changes in accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2015 were as follows (in millions): Cash Flow Hedges Foreign Currency Items Total Three Months Ended September 30, 2015 Beginning balance, net of tax $ 46.5 $ (5.8 ) $ 40.7 Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives 31.6 — 31.6 Foreign currency translations — (0.2 ) (0.2 ) Income tax effect (11.5 ) — (11.5 ) Net of tax 20.1 (0.2 ) 19.9 Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 39.9 — 39.9 Income tax effect (14.4 ) — (14.4 ) Net of tax 25.5 — 25.5 Other comprehensive income (loss), net of tax (5.4 ) (0.2 ) (5.6 ) Ending balance, net of tax $ 41.1 $ (6.0 ) $ 35.1 Cash Flow Hedges Foreign Currency Items Total Nine Months Ended September 30, 2015 Beginning balance, net of tax $ 86.8 $ (3.5 ) $ 83.3 Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives 35.7 — 35.7 Foreign currency translations — (2.5 ) (2.5 ) Income tax effect (12.8 ) — (12.8 ) Net of tax 22.9 (2.5 ) 20.4 Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 107.1 — 107.1 Income tax effect (38.5 ) — (38.5 ) Net of tax 68.6 — 68.6 Other comprehensive income (loss), net of tax (45.7 ) (2.5 ) (48.2 ) Ending balance, net of tax $ 41.1 $ (6.0 ) $ 35.1 Changes in accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2014 , were as follows (in millions): Cash Flow Hedges Foreign Currency Items Total Three Months Ended September 30, 2014 Beginning balance, net of tax $ (17.8 ) $ (0.4 ) $ (18.2 ) Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives 47.1 — 47.1 Foreign currency translations — (1.6 ) (1.6 ) Income tax effect (16.9 ) — (16.9 ) Net of tax 30.2 (1.6 ) 28.6 Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production (1.3 ) — (1.3 ) Income tax effect 0.5 — 0.5 Net of tax (0.8 ) — (0.8 ) Other comprehensive income (loss), net of tax 31.0 (1.6 ) 29.4 Ending balance, net of tax $ 13.2 $ (2.0 ) $ 11.2 Cash Flow Hedges Foreign Currency Items Total Nine Months Ended September 30, 2014 Beginning balance, net of tax $ (1.4 ) $ (0.7 ) $ (2.1 ) Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives 3.7 — 3.7 Foreign currency translations — (1.3 ) (1.3 ) Income tax effect (1.2 ) — (1.2 ) Net of tax 2.5 (1.3 ) 1.2 Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production (17.6 ) — (17.6 ) Derivative expense, net (1.5 ) — (1.5 ) Income tax effect 7.0 — 7.0 Net of tax (12.1 ) — (12.1 ) Other comprehensive income (loss), net of tax 14.6 (1.3 ) 13.3 Ending balance, net of tax $ 13.2 $ (2.0 ) $ 11.2

Guarantor Financial Statements

Guarantor Financial Statements (Tables)	9 Months Ended
Guarantor Financial Statements (Tables)	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 63,322 $ 10,042 $ 1,110 $ — $ 74,474 Accounts receivable 25,445 88,193 13 (55,792 ) 57,859 Fair value of derivative contracts — 65,700 — — 65,700 Inventory 3,426 283 — — 3,709 Other current assets 9,162 — 41 — 9,203 Total current assets 101,355 164,218 1,164 (55,792 ) 210,945 Oil and gas properties, full cost method: Proved 1,821,870 7,341,224 41,599 — 9,204,693 Less: accumulated DD&A (2,046,465 ) (6,111,909 ) (41,599 ) — (8,199,973 ) Net proved oil and gas properties (224,595 ) 1,229,315 — — 1,004,720 Unevaluated 301,501 215,085 2,377 — 518,963 Other property and equipment, net 30,327 — — — 30,327 Fair value of derivative contracts — 5,734 — — 5,734 Other assets, net 24,217 1,191 215 — 25,623 Investment in subsidiary 1,280,184 — 3,590 (1,283,774 ) — Total assets $ 1,512,989 $ 1,615,543 $ 7,346 $ (1,339,566 ) $ 1,796,312 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 66,623 $ 45,487 $ 9,736 $ (55,792 ) $ 66,054 Undistributed oil and gas proceeds 9,644 817 — — 10,461 Accrued interest 22,241 — — — 22,241 Asset retirement obligations — 42,624 — — 42,624 Other current liabilities 41,575 559 — — 42,134 Total current liabilities 140,083 89,487 9,736 (55,792 ) 183,514 Long-term debt 1,052,183 — — — 1,052,183 Asset retirement obligations 3,847 239,720 — — 243,567 Fair value of derivative contracts — 172 — — 172 Other long-term liabilities 25,347 — — — 25,347 Total liabilities 1,221,460 329,379 9,736 (55,792 ) 1,504,783 Commitments and contingencies Stockholders’ equity: Common stock 553 — — — 553 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,643,746 1,367,434 100,047 (1,467,481 ) 1,643,746 Accumulated deficit (1,386,967 ) (122,362 ) (90,368 ) 212,730 (1,386,967 ) Accumulated other comprehensive income (loss) 35,057 41,092 (12,069 ) (29,023 ) 35,057 Total stockholders’ equity 291,529 1,286,164 (2,390 ) (1,283,774 ) 291,529 Total liabilities and stockholders’ equity $ 1,512,989 $ 1,615,543 $ 7,346 $ (1,339,566 ) $ 1,796,312 CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2014 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 72,886 $ 1,450 $ 152 $ — $ 74,488 Restricted cash 177,647 — — — 177,647 Accounts receivable 73,711 46,615 33 — 120,359 Fair value of derivative contracts — 139,179 — — 139,179 Current income tax receivable 7,212 — — — 7,212 Deferred taxes * 4,095 — — (4,095 ) — Inventory 1,011 2,698 — — 3,709 Other current assets 8,112 — 6 — 8,118 Total current assets 344,674 189,942 191 (4,095 ) 530,712 Oil and gas properties, full cost method: Proved 1,689,802 7,127,466 — — 8,817,268 Less: accumulated DD&A (970,387 ) (6,000,244 ) — — (6,970,631 ) Net proved oil and gas properties 719,415 1,127,222 — — 1,846,637 Unevaluated 289,556 241,230 36,579 — 567,365 Other property and equipment, net 32,340 — — — 32,340 Fair value of derivative contracts — 14,333 — — 14,333 Other assets, net 20,857 1,360 5,007 — 27,224 Investment in subsidiary 1,050,546 — 41,638 (1,092,184 ) — Total assets $ 2,457,388 $ 1,574,087 $ 83,415 $ (1,096,279 ) $ 3,018,611 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 74,756 $ 57,873 $ — $ — $ 132,629 Undistributed oil and gas proceeds 22,158 1,074 — — 23,232 Accrued interest 9,022 — — — 9,022 Deferred taxes * — 24,214 — (4,095 ) 20,119 Asset retirement obligations — 69,400 — — 69,400 Other current liabilities 49,306 199 — — 49,505 Total current liabilities 155,242 152,760 — (4,095 ) 303,907 Long-term debt 1,041,035 — — — 1,041,035 Deferred taxes * 117,206 169,137 — — 286,343 Asset retirement obligations 3,588 243,421 — — 247,009 Other long-term liabilities 38,714 — — — 38,714 Total liabilities 1,355,785 565,318 — (4,095 ) 1,917,008 Commitments and contingencies Stockholders’ equity: Common stock 549 — — — 549 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,633,307 1,362,684 90,339 (1,453,023 ) 1,633,307 Accumulated earnings (deficit) (614,708 ) (440,699 ) 12 440,687 (614,708 ) Accumulated other comprehensive income (loss) 83,315 86,784 (6,936 ) (79,848 ) 83,315 Total stockholders’ equity 1,101,603 1,008,769 83,415 (1,092,184 ) 1,101,603 Total liabilities and stockholders’ equity $ 2,457,388 $ 1,574,087 $ 83,415 $ (1,096,279 ) $ 3,018,611 * Deferred income taxes have been allocated to our Guarantor Subsidiaries where related oil and gas properties reside.
Condensed Consolidating Statement of Operations	Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 1,633 $ 103,380 $ — $ — $ 105,013 Natural gas production 7,111 10,256 — — 17,367 Natural gas liquids production 3,502 2,478 — — 5,980 Other operational income 1,392 — — — 1,392 Derivative income, net — 2,444 — — 2,444 Total operating revenue 13,638 118,558 — — 132,196 Operating expenses: Lease operating expenses 2,680 21,562 2 — 24,244 Transportation, processing and gathering expenses 13,697 4,511 — — 18,208 Production taxes 1,777 275 — — 2,052 Depreciation, depletion and amortization 27,518 34,418 — — 61,936 Write-down of oil and gas properties 295,679 — — — 295,679 Accretion expense 92 6,406 — — 6,498 Salaries, general and administrative expenses 19,348 200 4 — 19,552 Incentive compensation expense 794 — — — 794 Other operational expenses 142 300 — — 442 Total operating expenses 361,727 67,672 6 — 429,405 Income (loss) from operations (348,089 ) 50,886 (6 ) — (297,209 ) Other (income) expenses: Interest expense 10,871 1 — — 10,872 Interest income (39 ) (7 ) (1 ) — (47 ) Other income (117 ) (294 ) — — (411 ) Other expense 148 — — — 148 (Income) loss from investment in subsidiaries (227,973 ) — 16,272 211,701 — Total other (income) expenses (217,110 ) (300 ) 16,271 211,701 10,562 Income (loss) before taxes (130,979 ) 51,186 (16,277 ) (211,701 ) (307,771 ) Provision (benefit) for income taxes: Deferred 160,986 (193,059 ) 16,267 — (15,806 ) Total income taxes 160,986 (193,059 ) 16,267 — (15,806 ) Net income (loss) $ (291,965 ) $ 244,245 $ (32,544 ) $ (211,701 ) $ (291,965 ) Comprehensive income (loss) $ (297,564 ) $ 244,245 $ (32,544 ) $ (211,701 ) $ (297,564 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2014 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 11,692 $ 112,103 $ — $ — $ 123,795 Natural gas production 16,001 14,153 — — 30,154 Natural gas liquids production 15,820 5,194 — — 21,014 Other operational income 2,417 51 — — 2,468 Derivative income, net — 5,782 — — 5,782 Total operating revenue 45,930 137,283 — — 183,213 Operating expenses: Lease operating expenses 5,619 37,942 — — 43,561 Transportation, processing and gathering expenses 14,379 2,342 — — 16,721 Production taxes 2,936 715 — — 3,651 Depreciation, depletion and amortization 36,598 43,693 — — 80,291 Write-down of oil and gas properties 47,130 — — — 47,130 Accretion expense 56 6,483 — — 6,539 Salaries, general and administrative expenses 16,273 1 12 — 16,286 Incentive compensation expense 3,092 — — — 3,092 Other operational expenses 294 4 — — 298 Total operating expenses 126,377 91,180 12 — 217,569 Income (loss) from operations (80,447 ) 46,103 (12 ) — (34,356 ) Other (income) expenses: Interest expense 10,316 7 — — 10,323 Interest income (76 ) (82 ) (11 ) — (169 ) Other income (164 ) (531 ) — — (695 ) Other expense 95 — — — 95 (Income) loss from investment in subsidiaries (29,894 ) — 2 29,892 — Total other (income) expenses (19,723 ) (606 ) (9 ) 29,892 9,554 Income (loss) before taxes (60,724 ) 46,709 (3 ) (29,892 ) (43,910 ) Provision (benefit) for income taxes: Deferred (31,309 ) 16,814 — — (14,495 ) Total income taxes (31,309 ) 16,814 — — (14,495 ) Net income (loss) $ (29,415 ) $ 29,895 $ (3 ) $ (29,892 ) $ (29,415 ) Comprehensive income (loss) $ (65 ) $ 29,895 $ (3 ) $ (29,892 ) $ (65 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2015 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 12,487 $ 311,618 $ — $ — $ 324,105 Natural gas production 39,375 33,236 — — 72,611 Natural gas liquids production 21,458 7,921 — — 29,379 Other operational income 3,184 — — — 3,184 Derivative income, net — 4,871 — — 4,871 Total operating revenue 76,504 357,646 — — 434,150 Operating expenses: Lease operating expenses 12,767 66,481 2 — 79,250 Transportation, processing and gathering expenses 47,779 8,072 — — 55,851 Production taxes 5,411 983 — — 6,394 Depreciation, depletion and amortization 113,682 112,627 — — 226,309 Write-down of oil and gas properties 966,216 — 45,169 — 1,011,385 Accretion expense 274 19,041 — — 19,315 Salaries, general and administrative expenses 52,747 201 29 — 52,977 Incentive compensation expense 3,621 — — — 3,621 Other operational expenses 1,312 300 — — 1,612 Total operating expenses 1,203,809 207,705 45,200 — 1,456,714 Income (loss) from operations (1,127,305 ) 149,941 (45,200 ) — (1,022,564 ) Other (income) expenses: Interest expense 31,687 22 — — 31,709 Interest income (186 ) (42 ) (7 ) — (235 ) Other income (437 ) (727 ) (3 ) — (1,167 ) Other expense 148 — — — 148 (Income) loss from investment in subsidiaries (273,147 ) — 45,190 227,957 — Total other (income) expenses (241,935 ) (747 ) 45,180 227,957 30,455 Income (loss) before taxes (885,370 ) 150,688 (90,380 ) (227,957 ) (1,053,019 ) Provision (benefit) for income taxes: Deferred (113,111 ) (167,649 ) — — (280,760 ) Total income taxes (113,111 ) (167,649 ) — — (280,760 ) Net income (loss) $ (772,259 ) $ 318,337 $ (90,380 ) $ (227,957 ) $ (772,259 ) Comprehensive income (loss) $ (820,517 ) $ 318,337 $ (90,380 ) $ (227,957 ) $ (820,517 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2014 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 24,182 $ 380,295 $ — $ — $ 404,477 Natural gas production 65,640 67,543 — — 133,183 Natural gas liquids production 44,293 20,627 — — 64,920 Other operational income 5,121 394 — — 5,515 Derivative income, net — 2,667 — — 2,667 Total operating revenue 139,236 471,526 — — 610,762 Operating expenses: Lease operating expenses 14,678 125,240 — — 139,918 Transportation, processing and gathering expenses 35,152 10,293 — — 45,445 Production taxes 6,520 3,450 — — 9,970 Depreciation, depletion and amortization 95,038 160,734 — — 255,772 Write-down of oil and gas properties 47,130 — — — 47,130 Accretion expense 185 21,642 — — 21,827 Salaries, general and administrative expenses 49,237 3 12 — 49,252 Incentive compensation expense 10,129 — — — 10,129 Other operational expenses 470 40 — — 510 Total operating expenses 258,539 321,402 12 — 579,953 Income (loss) from operations (119,303 ) 150,124 (12 ) — 30,809 Other (income) expenses: Interest expense 28,549 44 — — 28,593 Interest income (301 ) (181 ) (23 ) — (505 ) Other income (537 ) (1,587 ) — — (2,124 ) Other expense 274 — — — 274 Income from investment in subsidiaries (97,186 ) — (10 ) 97,196 — Total other (income) expenses (69,201 ) (1,724 ) (33 ) 97,196 26,238 Income (loss) before taxes (50,102 ) 151,848 21 (97,196 ) 4,571 Provision (benefit) for income taxes: Deferred (51,074 ) 54,673 — — 3,599 Total income taxes (51,074 ) 54,673 — — 3,599 Net income $ 972 $ 97,175 $ 21 $ (97,196 ) $ 972 Comprehensive income $ 14,223 $ 97,175 $ 21 $ (97,196 ) $ 14,223
Condensed Consolidating Statement of Cash Flows	Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (772,259 ) $ 318,337 $ (90,380 ) $ (227,957 ) $ (772,259 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation, depletion and amortization 113,682 112,627 — — 226,309 Write-down of oil and gas properties 966,216 — 45,169 — 1,011,385 Accretion expense 274 19,041 — — 19,315 Deferred income tax benefit (113,111 ) (167,649 ) — — (280,760 ) Settlement of asset retirement obligations (15 ) (59,811 ) — — (59,826 ) Non-cash stock compensation expense 9,163 — — — 9,163 Non-cash derivative expense — 10,854 — — 10,854 Non-cash interest expense 13,210 — — — 13,210 Change in current income taxes 7,211 — — — 7,211 Non-cash (income) expense from investment in subsidiaries (273,147 ) — 45,190 227,957 — Change in intercompany receivables/payables 31,320 (41,056 ) 9,736 — — Decrease in accounts receivable 29,561 4,317 17 — 33,895 Increase in other current assets (1,050 ) — (40 ) — (1,090 ) (Increase) decrease in inventory (2,415 ) 2,415 — — — Decrease in accounts payable (7,562 ) (4,030 ) — — (11,592 ) Increase (decrease) in other current liabilities (6,855 ) 102 — — (6,753 ) Other 645 (727 ) (82 ) Net cash (used in) provided by operating activities (5,132 ) 194,420 9,692 — 198,980 Cash flows from investing activities: Investment in oil and gas properties (177,497 ) (197,471 ) (10,560 ) — (385,528 ) Proceeds from sale of oil and gas properties, net of expenses — 11,643 — — 11,643 Investment in fixed and other assets (1,455 ) — — — (1,455 ) Change in restricted funds 177,647 — 1,828 — 179,475 Investment in subsidiaries — — (9,708 ) 9,708 — Net cash used in investing activities (1,305 ) (185,828 ) (18,440 ) 9,708 (195,865 ) Cash flows from financing activities: Proceeds from bank borrowings 5,000 — — — 5,000 Repayments of bank borrowings (5,000 ) — — — (5,000 ) Equity proceeds from parent — — 9,708 (9,708 ) — Net payments for share-based compensation (3,127 ) — — — (3,127 ) Net cash (used in) provided by financing activities (3,127 ) — 9,708 (9,708 ) (3,127 ) Effect of exchange rate changes on cash — — (2 ) — (2 ) Net change in cash and cash equivalents (9,564 ) 8,592 958 — (14 ) Cash and cash equivalents, beginning of period 72,886 1,450 152 — 74,488 Cash and cash equivalents, end of period $ 63,322 $ 10,042 $ 1,110 $ — $ 74,474 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2014 (In thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net income $ 972 $ 97,175 $ 21 $ (97,196 ) $ 972 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, depletion and amortization 95,038 160,734 — — 255,772 Write-down of oil and gas properties 47,130 — — — 47,130 Accretion expense 185 21,642 — — 21,827 Deferred income tax (benefit) provision (51,074 ) 54,673 — — 3,599 Settlement of asset retirement obligations (84 ) (47,133 ) — — (47,217 ) Non-cash stock compensation expense 8,409 — — — 8,409 Non-cash derivative income — (2,386 ) — — (2,386 ) Non-cash interest expense 12,393 — — — 12,393 Change in current income taxes (6 ) — — — (6 ) Non-cash income from investment in subsidiaries (97,185 ) — (11 ) 97,196 — Change in intercompany receivables/payables (119,004 ) 90,313 28,691 — — (Increase) decrease in accounts receivable 125,593 (127,363 ) (35 ) — (1,805 ) Increase in other current assets (2 ) — (8 ) — (10 ) Increase (decrease) in accounts payable 900 (4,447 ) — — (3,547 ) Increase (decrease) in other current liabilities 39,329 (1,888 ) — — 37,441 Other 1,414 (1,586 ) — — (172 ) Net cash provided by operating activities 64,008 239,734 28,658 — 332,400 Cash flows from investing activities: Investment in oil and gas properties (225,831 ) (480,686 ) (20,971 ) — (727,488 ) Proceeds from sale of oil and gas properties, net of expenses 12,197 211,102 — — 223,299 Investment in fixed and other assets (8,790 ) — — — (8,790 ) Change in restricted funds (177,647 ) — (8,105 ) — (185,752 ) Investment in subsidiaries — — (29,253 ) 29,253 — Net cash used in investing activities (400,071 ) (269,584 ) (58,329 ) 29,253 (698,731 ) Cash flows from financing activities: Net proceeds from issuance of common stock 225,999 — — — 225,999 Deferred financing costs (3,329 ) — — — (3,329 ) Equity proceeds from parent — — 29,253 (29,253 ) — Net payments for share-based compensation (7,161 ) — — — (7,161 ) Net cash provided by financing activities 215,509 — 29,253 (29,253 ) 215,509 Effect of exchange rate on cash — — (95 ) — (95 ) Net change in cash and cash equivalents (120,554 ) (29,850 ) (513 ) — (150,917 ) Cash and cash equivalents, beginning of period 246,294 84,290 640 — 331,224 Cash and cash equivalents, end of period $ 125,740 $ 54,440 $ 127 $ — $ 180,307

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Weighted Average Shares Outstanding and Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Basic:
Net income (loss)	$ (291,965)	$ (29,415)	$ (772,259)	$ 972
Net income attributable to participating securities	0	0	0	(22)
Net income (loss) attributable to common stock - basic	(291,965)	(29,415)	(772,259)	950
Diluted:
Net income (loss)	(291,965)	(29,415)	(772,259)	972
Net income attributable to participating securities	0	0	0	(22)
Net income (loss) attributable to common stock - diluted	$ (291,965)	$ (29,415)	$ (772,259)	$ 950
Weighted average shares (denominator):
Weighted average shares - basic (in shares)	55,282	54,866	55,238	51,998
Dilutive effect of stock options (in shares)	0	0	0	53
Dilutive effect of convertible notes (in shares)	0	0	0	88
Weighted average shares - diluted (in shares)	55,282	54,866	55,238	52,139
Basic earnings (loss) per share (usd per share)	$ (5.28)	$ (0.54)	$ (13.98)	$ 0.02
Diluted earnings (loss) per share (usd per share)	$ (5.28)	$ (0.54)	$ (13.98)	$ 0.02

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Debt Instrument [Line Items]
Antidilutive stock options outstanding (in shares)		145	205	145	116
Shares of common stock issued upon vesting of restricted stock (in shares)		19	10	418	382
Common stock issued (in shares)	5,750
Convertible Debt [Member] \| 1.75% Senior Notes due 2017 [Member]
Debt Instrument [Line Items]
Interest rate		1.75%	1.75%	1.75%	1.75%	1.75%

Derivative Instruments and He29

Derivative Instruments and Hedging Activities - Hedging Positions (Detail) - Subsequent Event [Member] - Designated as Hedging Instrument [Member]	Nov. 03, 2015MMBTUMBbls$ / MMBTU$ / bbl
Fixed Price Swaps [Member] \| 2015 Hedging Position One [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	89
Fixed Price Swaps [Member] \| 2015 Hedging Position One [Member] \| Natural Gas (MMcfe) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume \| MMBTU	10,000
Swap Price \| $ / MMBTU	4.005
Fixed Price Swaps [Member] \| 2015 Hedging Position Two [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	90
Fixed Price Swaps [Member] \| 2015 Hedging Position Two [Member] \| Natural Gas (MMcfe) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume \| MMBTU	10,000
Swap Price \| $ / MMBTU	4.120
Fixed Price Swaps [Member] \| 2015 Hedging Position Three [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	90.25
Fixed Price Swaps [Member] \| 2015 Hedging Position Three [Member] \| Natural Gas (MMcfe) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume \| MMBTU	10,000
Swap Price \| $ / MMBTU	4.150
Fixed Price Swaps [Member] \| 2015 Hedging Position Four [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	90.40
Fixed Price Swaps [Member] \| 2015 Hedging Position Four [Member] \| Natural Gas (MMcfe) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume \| MMBTU	10,000
Swap Price \| $ / MMBTU	4.165
Fixed Price Swaps [Member] \| 2015 Hedging Position Five [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	91.05
Fixed Price Swaps [Member] \| 2015 Hedging Position Five [Member] \| Natural Gas (MMcfe) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume \| MMBTU	10,000
Swap Price \| $ / MMBTU	4.220
Fixed Price Swaps [Member] \| 2015 Hedging Position Six [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	93.28
Fixed Price Swaps [Member] \| 2015 Hedging Position Six [Member] \| Natural Gas (MMcfe) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume \| MMBTU	10,000
Swap Price \| $ / MMBTU	4.255
Fixed Price Swaps [Member] \| 2015 Hedging Position Seven [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	93.37
Fixed Price Swaps [Member] \| 2015 Hedging Position Eight [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	94.85
Fixed Price Swaps [Member] \| 2015 Hedging Position Nine [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	95
Fixed Price Swaps [Member] \| 2016 Hedging Position One [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	49.75
Fixed Price Swaps [Member] \| 2016 Hedging Position One [Member] \| Natural Gas (MMcfe) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume \| MMBTU	10,000
Swap Price \| $ / MMBTU	4.110
Fixed Price Swaps [Member] \| 2016 Hedging Position Two [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	52.78
Fixed Price Swaps [Member] \| 2016 Hedging Position Two [Member] \| Natural Gas (MMcfe) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume \| MMBTU	10,000
Swap Price \| $ / MMBTU	4.120
Fixed Price Swaps [Member] \| 2016 Hedging Position Three [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price \| $ / bbl	90
Fixed Price Swaps [Member] \| 2016 Hedging Position Three [Member] \| Natural Gas (MMcfe) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume \| MMBTU
Swap Price \| $ / MMBTU
Costless Collar [Member] \| 2016 Hedging Position Four [Member] \| Oil (MBbls) [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Floor Price ($) \| $ / MMBTU	45
Ceiling Price ($) \| $ / MMBTU	54.75

Derivative Instruments and He30

Derivative Instruments and Hedging Activities - Additional Information (Detail) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)	Dec. 31, 2015Contract	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2013USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Maximum correlation between price of oil & natural gas in market and underlying price basis indicative in the derivative contract	100.00%
Accumulated other comprehensive income (loss)	$ 35,057		$ 40,700	$ 83,315	$ 11,200	$ (18,200)	$ (2,100)
Accumulated other comprehensive income, to be reclassified into earnings in the next twelve months	37,700
Cash Flow Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ 41,100		$ 46,500	$ 86,800	$ 13,200	$ (17,800)	$ (1,400)
Scenario, Forecast [Member] \| Natural Gas (MMcfe) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Number of contracts no longer qualifying as cash flow hedges \| Contract		3

Derivative Instruments and He31

Derivative Instruments and Hedging Activities - Location and Fair Value Amounts of Derivative Instruments Reported in Balance Sheet (Detail) - Designated as Hedging Instrument [Member] - Commodity Contracts [Member] - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Asset Derivatives
Fair Value of Derivative Instruments, Assets	$ 67.1	$ 141.3
Liability Derivatives
Fair Value of Derivative Instruments, Liabilities	0.2	0
Current Liabilities [Member]
Liability Derivatives
Fair Value of Derivative Instruments, Liabilities	0	0
Long-Term Liabilities [Member]
Liability Derivatives
Fair Value of Derivative Instruments, Liabilities	0.2	0
Current Assets [Member]
Asset Derivatives
Fair Value of Derivative Instruments, Assets	61.4	127
Long-Term Assets [Member]
Asset Derivatives
Fair Value of Derivative Instruments, Assets	$ 5.7	$ 14.3

Derivative Instruments and He32

Derivative Instruments and Hedging Activities - Before Tax Effect of Derivative Instruments in Statement of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	$ 31.6	$ 47.1		$ 35.7	$ 3.7
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a)	39.9	(1.3)		107.1	(17.6)
Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	31.6	47.1		35.7	3.7
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a)	39.9	(1.3)		107.1	(17.6)
Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)	1.2	2.1		1.7	0.5
Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member] \| Derivative Income (Expense), Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)	1.2	2.1		1.7	0.5
Cash Flow Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	31.6	47.1		35.7	3.7
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a)				107.1
Cash Flow Hedges [Member] \| Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	31.6	47.1		35.7	3.7
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Cash Flow Hedges [Member] \| Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a)	$ 39.9	$ (1.3)	$ (17.6)	$ 107.1	$ (17.6)

Derivative Instruments and He33

Derivative Instruments and Hedging Activities - Before Tax Effect of Derivative Instruments in Statement of Operations - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Decrease/increase in oil revenue owing to effective hedging contracts	$ 36.3	$ (1.3)	$ 96.8	$ (10)
Decrease/increase in gas revenue owing to effective hedging contracts	$ (3.6)		$ 10.3	$ (7.6)

Derivative Instruments and He34

Derivative Instruments and Hedging Activities - Location and Fair Value Amounts of Derivative Instruments Not Qualifying as Hedging Instruments Reported in Balance Sheet (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Not Designated as Hedging Instrument [Member] \| Commodity Contracts [Member] \| Current Assets [Member]
Asset Derivatives
Current assets: Fair value of derivative contracts	$ 4.3	$ 12.1

Derivative Instruments and He35

Derivative Instruments and Hedging Activities - Gains or Losses Related to Changes in Fair Value and Cash Settlements on Derivatives Not Qualifying as Hedging Instruments (Detail) - Not Designated as Hedging Instrument [Member] - Commodity Contracts [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Cash settlements on Derivative Instruments not Qualifying Hedges	$ 3.8	$ 0.7	$ 11	$ 0.7
Change in fair value on Derivative Instruments not Qualifying Hedges	(2.6)	3	(7.9)	1.5
Total gains (losses) on Derivative Instruments not Qualifying Hedges	$ 1.2	$ 3.7	$ 3.1	$ 2.2

Derivative Instruments and He36

Derivative Instruments and Hedging Activities Derivative Instruments Offsetting of derivative assets and liabilities (Details) $ in Thousands	Sep. 30, 2015USD ($)
Current Assets [Member]
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 65,700
Derivative Asset, Fair Value, Gross Liability	0
Derivative Asset	65,700
Noncurrent Assets [Member]
Offsetting Assets [Line Items]
Derivative Asset, Fair Value, Gross Asset	5,700
Derivative Asset, Fair Value, Gross Liability	(200)
Derivative Asset	5,500
Current Liabilities [Member]
Offsetting Assets [Line Items]
Derivative Liability, Fair Value, Gross Liability	0
Derivative Liability, Fair Value, Gross Asset	0
Derivative Liability	0
Noncurrent Liabilities [Member]
Offsetting Assets [Line Items]
Derivative Liability, Fair Value, Gross Liability	(200)
Derivative Liability, Fair Value, Gross Asset	200
Derivative Liability	$ 0

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt	$ 1,052,183,000	$ 1,041,035,000
Convertible Debt [Member] \| 1.75% Senior Notes due 2017 [Member]
Debt Instrument [Line Items]
Long-term debt	277,200,000	266,000,000
Senior Notes [Member] \| 7.5% Notes due 2022 [Member]
Debt Instrument [Line Items]
Long-term debt	775,000,000	775,000,000
Bank Debt [Member]
Debt Instrument [Line Items]
Outstanding letters of credit	$ 0	$ 0

Long-Term Debt (non-printing) (

Long-Term Debt (non-printing) (Detail)	Mar. 06, 2012	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Convertible Debt [Member] \| 1.75% Senior Notes due 2017 [Member]
Debt Instrument [Line Items]
Interest rate		1.75%	1.75%	1.75%
Senior Notes [Member] \| 7.5% Notes due 2022 [Member]
Debt Instrument [Line Items]
Interest rate		7.50%	7.50%
Senior Convertible Notes Due Two Thousand Seventeen [Member]
Debt Instrument [Line Items]
Initial conversion rate of common stock	23.4449	1

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	Mar. 06, 2012USD ($)$ / sharesshares	Sep. 30, 2015USD ($)$ / shares	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)$ / shares	Sep. 30, 2014USD ($)	Nov. 03, 2015USD ($)	Oct. 13, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 24, 2014USD ($)
Debt Instrument [Line Items]
Liability component of convertible note		$ 1,052,183,000		$ 1,052,183,000				$ 1,041,035,000
Minimum [Member]
Debt Instrument [Line Items]
Percentage of borrowing base utilization				1.50%
Maximum [Member]
Debt Instrument [Line Items]
Percentage of borrowing base utilization				2.50%
Letter of Credit [Member]
Debt Instrument [Line Items]
Outstanding borrowing under bank credit facility		$ 19,200,000		$ 19,200,000
Subsequent Event [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Outstanding borrowing under bank credit facility						$ 19,200,000
1.75% Senior Convertible Notes due 2017 [Member]
Debt Instrument [Line Items]
Aggregate principal amount of Senior Subordinated Notes	$ 300,000,000
Initial conversion rate of convertible note 2017				An initial conversion rate of 23.4449 shares of our common stock per $1,000 principal amount of 2017 Convertible Notes,
Initial conversion rate of common stock	23.4449			1
Principal amount of 2017 convertible notes \| $ / shares		$ 1,000		$ 1,000
Initial conversion price of convertible note 2017 (in usd per share) \| $ / shares				42.65
Closing share price (in usd per share) \| $ / shares		$ 4.96		$ 4.96
Payment for call option	$ 70,800,000
Anti-dilution adjustments for purchases of call option (in shares) \| shares	7,033,470
Strike price per share (in usd per share) \| $ / shares	$ 55.91
Proceeds from sale of warrants	$ 40,100,000
Liability component of convertible note		$ 277,200,000		$ 277,200,000
Interest expense related to amortization of discount		3,800,000	$ 3,500,000	11,100,000	$ 10,400,000
Amortization of deferred financing costs		400,000	300,000	1,100,000	1,000,000
Interest expense related to contractual interest coupon of convertible notes		1,300,000	$ 1,300,000	$ 3,900,000	$ 3,900,000
Bank Debt [Member]
Debt Instrument [Line Items]
Credit facility initial date				Jun. 24, 2014
Redetermined base borrowing and credit facility									$ 900,000,000
Maturity of new credit facility if note issue under 2004 indenture are retired on or before April 15, 2014				Jul. 1, 2019
Borrowing base		500,000,000		$ 500,000,000
Initial bank and availability under facility		480,800,000		480,800,000
Outstanding borrowing under bank credit facility		$ 0		$ 0				$ 0
Period in which outstanding amount has to be repaid to cure deficiency				10 days
Period in which bank has to add new properties to borrowing base and has to grant mortgage to banks				30 days
Oil and gas reserve as proportion of discounted present value of future net cash flow, for mortgage				80.00%
Bank Debt [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Borrowing base							$ 500,000,000
Initial bank and availability under facility						480,800,000
Outstanding borrowing under bank credit facility						$ 0

Asset Retirement Obligations -

Asset Retirement Obligations - Changes in Asset Retirement Obligations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligations as of the beginning of the period, including current portion			$ 316,400
Liabilities incurred			10,300
Liabilities settled			(59,800)
Accretion expense	$ 6,498	$ 6,539	19,315	$ 21,827
Asset retirement obligations as of the end of the period, including current portion	$ 286,200		$ 286,200

Income Taxes Income Taxes (Deta

Income Taxes Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Valuation Allowance [Line Items]
Total income taxes	$ 15,806	$ 14,495	$ 280,760	$ (3,599)
Effective income tax rate	5.10%		26.70%
Federal statutory income tax rate			35.00%
Deferred	$ (15,806)	(14,495)	$ (280,760)	3,599
Other Comprehensive Income (Loss), Tax	11,500	$ 16,900	12,800	$ 1,200
Ceiling Test Write Downs From Decline in Commodity Prices [Member]
Valuation Allowance [Line Items]
Valuation allowance	$ 96,500		$ 96,500

Divestitures - Additional Infor

Divestitures - Additional Information (Detail) $ in Millions	Jul. 31, 2014USD ($)
GOM Conventional Shelf [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration received on sale of interest	$ 177.6

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities (Other assets)	$ 8.3	$ 8.4
Assets, fair value, total	79.7	161.9
Liabilities, fair value, total	0.2	0
Derivative Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, contracts	71.4	153.5
Derivative liabilities, contracts	0.2	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities (Other assets)	8.3	8.4
Assets, fair value, total	8.3	8.4
Liabilities, fair value, total	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Derivative Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, contracts	0	0
Derivative liabilities, contracts	0	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities (Other assets)	0	0
Assets, fair value, total	71.4	153.5
Liabilities, fair value, total	0.2	0
Significant Other Observable Inputs (Level 2) [Member] \| Derivative Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, contracts	71.4	153.5
Derivative liabilities, contracts	0.2	0
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities (Other assets)	0	0
Assets, fair value, total	0	0
Liabilities, fair value, total	0	0
Significant Unobservable Inputs (Level 3) [Member] \| Derivative Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, contracts	0	0
Derivative liabilities, contracts	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
1.75% Senior Notes due 2017 [Member] \| Convertible Debt [Member]
Debt Instrument [Line Items]
Fair value of convertible notes	$ 244	$ 252.6
Interest rate	1.75%	1.75%	1.75%
7.5% Notes due 2022 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate	7.50%	7.50%
Fair value of notes	$ 484.4	$ 664.6

Accumulated Other Comprehensi45

Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in Accumulated Other Comprehensive Income Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, net of tax	$ 40,700	$ (18,200)	$ (2,100)	$ 83,315	$ (2,100)
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	31,600	47,100		35,700	3,700
Foreign currency translations	(200)	(1,600)		(2,500)	(1,300)
Income tax effect	(11,500)	(16,900)		(12,800)	(1,200)
Net of tax	19,900	28,600		20,400	1,200
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/natural gas production	39,900	(1,300)		107,100	(17,600)
Derivative expense, net					(1,500)
Income tax effect	(14,400)	500		(38,500)	7,000
Net of tax	25,500	(800)		68,600	(12,100)
Other comprehensive income (loss), net of tax	(5,600)	29,400		(48,200)	13,300
Ending balance, net of tax	35,057	11,200	(18,200)	35,057	11,200
Cash Flow Hedges [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, net of tax	46,500	(17,800)	(1,400)	86,800	(1,400)
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	31,600	47,100		35,700	3,700
Foreign currency translations	0	0		0	0
Income tax effect	(11,500)	(16,900)		(12,800)	(1,200)
Net of tax	20,100	30,200		22,900	2,500
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/natural gas production				107,100
Derivative expense, net					(1,500)
Income tax effect	(14,400)	500		(38,500)
Net of tax	25,500	(800)		68,600	(12,100)
Other comprehensive income (loss), net of tax	(5,400)	31,000		(45,700)	14,600
Ending balance, net of tax	41,100	13,200	(17,800)	41,100	13,200
Cash Flow Hedges [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Amounts reclassified from accumulated other comprehensive income:
Income tax effect			7,000
Foreign Currency Items [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, net of tax	(5,800)	(400)	(700)	(3,500)	(700)
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	0	0		0	0
Foreign currency translations	(200)	(1,600)		(2,500)	(1,300)
Income tax effect	0	0		0	0
Net of tax	(200)	(1,600)		(2,500)	(1,300)
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/natural gas production	0	0		0	0
Derivative expense, net					0
Income tax effect	0	0		0	0
Net of tax	0	0		0	0
Other comprehensive income (loss), net of tax	(200)	(1,600)		(2,500)	(1,300)
Ending balance, net of tax	$ (6,000)	$ (2,000)	$ (400)	$ (6,000)	$ (2,000)

Investment in Oil and Gas Pro46

Investment in Oil and Gas Properties - Additional Information (Detail) $ in Thousands	Sep. 30, 2015USD ($)$ / Bngl$ / Mcf$ / bbl	Jun. 30, 2015USD ($)$ / Bngl$ / Mcf$ / bbl	Mar. 31, 2015USD ($)$ / Bngl$ / Mcf$ / bbl	Sep. 30, 2015USD ($)$ / Bngl$ / Mcf$ / bbl	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)$ / Bngl$ / Mcf$ / bbl	Sep. 30, 2014USD ($)
Oil and Gas In Process Activities [Line Items]
Write-down of oil and gas properties				$ 295,679	$ 47,130	$ 1,011,385	$ 47,130
Average 12-month oil prices net of differentials \| $ / bbl	57.76	68.68	78.99	57.76		57.76
Average 12-month gas prices net of differentials \| $ / Mcf	2.44	2.47	2.96	2.44		2.44
Decrease in written down value of oil and gas properties		$ 47,800	$ 28,700			$ 42,700
Canada [Member]
Oil and Gas In Process Activities [Line Items]
Write-down of oil and gas properties		45,200
Oil And Gas [Member]
Oil and Gas In Process Activities [Line Items]
Write-down of oil and gas properties	$ 295,700	$ 179,100	$ 491,400
Natural Gas Liquids (MBbls) [Member]
Oil and Gas In Process Activities [Line Items]
Average 12-month gas prices net of differentials \| $ / Bngl	23.04	29.13	28.82	23.04		23.04

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Jun. 30, 2015	Aug. 02, 2013
Loss Contingencies [Line Items]
Legal settlement		$ 18,372,819
Brokerage fee obligations		1,118,878
Acquisition amount owed		$ 17,253,941
Litigation settlement amount	$ 2,118,878
Minimum potential range contingency loss	0
Maximum potential range contingency loss	2,118,878
Second Claim [Member]
Loss Contingencies [Line Items]
Litigation settlement amount	$ 1,000,000

Guarantor Financial Statement48

Guarantor Financial Statements - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 74,474		$ 74,488	$ 180,307		$ 331,224
Restricted cash	0		177,647
Accounts receivable	57,859		120,359
Fair value of derivative contracts	65,700		139,179
Current income tax receivable	0		7,212
Inventory	3,709		3,709
Other current assets	9,203		8,118
Total current assets	210,945		530,712
Oil and gas properties, full cost method:
Proved	9,204,693		8,817,268
Less: accumulated DD&A	(8,199,973)		(6,970,631)
Net proved oil and gas properties	1,004,720		1,846,637
Unevaluated	518,963		567,365
Other property and equipment, net	30,327		32,340
Fair value of derivative contracts	5,734		14,333
Other assets, net	25,623		27,224
Investment in subsidiary	0
Total assets	1,796,312		3,018,611
Current liabilities:
Accounts payable to vendors	66,054		132,629
Undistributed oil and gas proceeds	10,461		23,232
Accrued interest	22,241		9,022
Deferred taxes	0		20,119
Asset retirement obligations	42,624		69,400
Other current liabilities	42,134		49,505
Total current liabilities	183,514		303,907
Long-term debt	1,052,183		1,041,035
Deferred taxes	0		286,343
Asset retirement obligations	243,567		247,009
Fair value of derivative contracts	172		0
Other long-term liabilities	25,347		38,714
Total liabilities	$ 1,504,783		$ 1,917,008
Commitments and contingencies
Stockholders’ equity:
Common stock	$ 553		$ 549
Treasury stock	(860)		(860)
Additional paid-in capital	1,643,746		1,633,307
Accumulated deficit	(1,386,967)		(614,708)
Accumulated other comprehensive income (loss)	35,057	$ 40,700	83,315	11,200	$ (18,200)	(2,100)
Total stockholders’ equity	291,529		1,101,603
Total liabilities and stockholders’ equity	1,796,312		3,018,611
Parent [Member]
Current assets:
Cash and cash equivalents	63,322		72,886	125,740		246,294
Restricted cash			177,647
Accounts receivable	25,445		73,711
Fair value of derivative contracts	0
Current income tax receivable			7,212
Deferred taxes			4,095
Inventory	3,426		1,011
Other current assets	9,162		8,112
Total current assets	101,355		344,674
Oil and gas properties, full cost method:
Proved	1,821,870		1,689,802
Less: accumulated DD&A	(2,046,465)		(970,387)
Net proved oil and gas properties	(224,595)		719,415
Unevaluated	301,501		289,556
Other property and equipment, net	30,327		32,340
Fair value of derivative contracts	0
Other assets, net	24,217		20,857
Investment in subsidiary	1,280,184		1,050,546
Total assets	1,512,989		2,457,388
Current liabilities:
Accounts payable to vendors	66,623		74,756
Undistributed oil and gas proceeds	9,644		22,158
Accrued interest	22,241		9,022
Asset retirement obligations	0
Other current liabilities	41,575		49,306
Total current liabilities	140,083		155,242
Long-term debt	1,052,183		1,041,035
Deferred taxes			117,206
Asset retirement obligations	3,847		3,588
Fair value of derivative contracts	0
Other long-term liabilities	25,347		38,714
Total liabilities	$ 1,221,460		$ 1,355,785
Commitments and contingencies
Stockholders’ equity:
Common stock	$ 553		$ 549
Treasury stock	(860)		(860)
Additional paid-in capital	1,643,746		1,633,307
Accumulated deficit	(1,386,967)		(614,708)
Accumulated other comprehensive income (loss)	35,057		83,315
Total stockholders’ equity	291,529		1,101,603
Total liabilities and stockholders’ equity	1,512,989		2,457,388
Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	10,042		1,450	54,440		84,290
Accounts receivable	88,193		46,615
Fair value of derivative contracts	65,700		139,179
Inventory	283		2,698
Other current assets	0
Total current assets	164,218		189,942
Oil and gas properties, full cost method:
Proved	7,341,224		7,127,466
Less: accumulated DD&A	(6,111,909)		(6,000,244)
Net proved oil and gas properties	1,229,315		1,127,222
Unevaluated	215,085		241,230
Other property and equipment, net	0
Fair value of derivative contracts	5,734		14,333
Other assets, net	1,191		1,360
Investment in subsidiary	0
Total assets	1,615,543		1,574,087
Current liabilities:
Accounts payable to vendors	45,487		57,873
Undistributed oil and gas proceeds	817		1,074
Accrued interest	0
Deferred taxes			24,214
Asset retirement obligations	42,624		69,400
Other current liabilities	559		199
Total current liabilities	89,487		152,760
Long-term debt	0
Deferred taxes			169,137
Asset retirement obligations	239,720		243,421
Fair value of derivative contracts	172
Other long-term liabilities	0
Total liabilities	$ 329,379		$ 565,318
Commitments and contingencies
Stockholders’ equity:
Common stock	$ 0
Treasury stock	0
Additional paid-in capital	1,367,434		$ 1,362,684
Accumulated deficit	(122,362)		(440,699)
Accumulated other comprehensive income (loss)	41,092		86,784
Total stockholders’ equity	1,286,164		1,008,769
Total liabilities and stockholders’ equity	1,615,543		1,574,087
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	1,110		152	$ 127		$ 640
Accounts receivable	13		33
Fair value of derivative contracts	0
Inventory	0
Other current assets	41		6
Total current assets	1,164		191
Oil and gas properties, full cost method:
Proved	41,599
Less: accumulated DD&A	(41,599)
Net proved oil and gas properties	0
Unevaluated	2,377		36,579
Other property and equipment, net	0
Fair value of derivative contracts	0
Other assets, net	215		5,007
Investment in subsidiary	3,590		41,638
Total assets	7,346		$ 83,415
Current liabilities:
Accounts payable to vendors	9,736
Undistributed oil and gas proceeds	0
Accrued interest	0
Asset retirement obligations	0
Other current liabilities	0
Total current liabilities	9,736
Long-term debt	0
Asset retirement obligations	0
Fair value of derivative contracts	0
Other long-term liabilities	0
Total liabilities	$ 9,736
Commitments and contingencies
Stockholders’ equity:
Common stock	$ 0
Treasury stock	0
Additional paid-in capital	100,047		$ 90,339
Accumulated deficit	(90,368)		12
Accumulated other comprehensive income (loss)	(12,069)		(6,936)
Total stockholders’ equity	(2,390)		83,415
Total liabilities and stockholders’ equity	7,346		83,415
Eliminations [Member]
Current assets:
Cash and cash equivalents	0
Accounts receivable	(55,792)
Fair value of derivative contracts	0
Deferred taxes			(4,095)
Inventory	0
Other current assets	0
Total current assets	(55,792)		(4,095)
Oil and gas properties, full cost method:
Proved	0
Less: accumulated DD&A	0
Net proved oil and gas properties	0
Unevaluated	0
Other property and equipment, net	0
Fair value of derivative contracts	0
Other assets, net	0
Investment in subsidiary	(1,283,774)		(1,092,184)
Total assets	(1,339,566)		(1,096,279)
Current liabilities:
Accounts payable to vendors	(55,792)
Undistributed oil and gas proceeds	0
Accrued interest	0
Deferred taxes			(4,095)
Asset retirement obligations	0
Other current liabilities	0
Total current liabilities	(55,792)		(4,095)
Long-term debt	0
Asset retirement obligations	0
Fair value of derivative contracts	0
Other long-term liabilities	0
Total liabilities	$ (55,792)		$ (4,095)
Commitments and contingencies
Stockholders’ equity:
Common stock	$ 0
Treasury stock	0
Additional paid-in capital	(1,467,481)		$ (1,453,023)
Accumulated deficit	212,730		440,687
Accumulated other comprehensive income (loss)	(29,023)		(79,848)
Total stockholders’ equity	(1,283,774)		(1,092,184)
Total liabilities and stockholders’ equity	$ (1,339,566)		$ (1,096,279)

Guarantor Financial Statement49

Guarantor Financial Statements - Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating revenue:
Oil production	$ 105,013	$ 123,795	$ 324,105	$ 404,477
Natural gas production	17,367	30,154	72,611	133,183
Natural gas liquids production	5,980	21,014	29,379	64,920
Other operational income	1,392	2,468	3,184	5,515
Derivative income, net	2,444	5,782	4,871	2,667
Total operating revenue	132,196	183,213	434,150	610,762
Operating expenses:
Lease operating expenses	24,244	43,561	79,250	139,918
Transportation, processing and gathering expenses	18,208	16,721	55,851	45,445
Production taxes	2,052	3,651	6,394	9,970
Depreciation, depletion and amortization	61,936	80,291	226,309	255,772
Write-down of oil and gas properties	295,679	47,130	1,011,385	47,130
Accretion expense	6,498	6,539	19,315	21,827
Salaries, general and administrative expenses	19,552	16,286	52,977	49,252
Incentive compensation expense	794	3,092	3,621	10,129
Other operational expenses	442	298	1,612	510
Total operating expenses	429,405	217,569	1,456,714	579,953
Income (loss) from operations	(297,209)	(34,356)	(1,022,564)	30,809
Other (income) expenses:
Interest expense	10,872	10,323	31,709	28,593
Interest income	(47)	(169)	(235)	(505)
Other income	(411)	(695)	(1,167)	(2,124)
Other expense	148	95	148	274
Total other expenses	10,562	9,554	30,455	26,238
Provision (benefit) for income taxes:
Income (loss) before income taxes	(307,771)	(43,910)	(1,053,019)	4,571
Total income taxes	(15,806)	(14,495)	(280,760)	3,599
Deferred	(15,806)	(14,495)	(280,760)	3,599
Net income (loss)	(291,965)	(29,415)	(772,259)	972
Comprehensive income (loss)	(297,564)	(65)	(820,517)	14,223
Parent [Member]
Operating revenue:
Oil production	1,633	11,692	12,487	24,182
Natural gas production	7,111	16,001	39,375	65,640
Natural gas liquids production	3,502	15,820	21,458	44,293
Other operational income	1,392	2,417	3,184	5,121
Derivative income, net	0	0		0
Total operating revenue	13,638	45,930	76,504	139,236
Operating expenses:
Lease operating expenses	2,680	5,619	12,767	14,678
Transportation, processing and gathering expenses	13,697	14,379	47,779	35,152
Production taxes	1,777	2,936	5,411	6,520
Depreciation, depletion and amortization	27,518	36,598	113,682	95,038
Write-down of oil and gas properties	295,679	47,130	966,216	47,130
Accretion expense	92	56	274	185
Salaries, general and administrative expenses	19,348	16,273	52,747	49,237
Incentive compensation expense	794	3,092	3,621	10,129
Other operational expenses	142	294	1,312	470
Total operating expenses	361,727	126,377	1,203,809	258,539
Income (loss) from operations	(348,089)	(80,447)	(1,127,305)	(119,303)
Other (income) expenses:
Interest expense	10,871	10,316	31,687	28,549
Interest income	(39)	(76)	(186)	(301)
Other income	(117)	(164)	(437)	(537)
Other expense	148	95	148	274
(Income) loss from investment in subsidiaries	(227,973)	(29,894)	(273,147)	(97,186)
Total other expenses	(217,110)	(19,723)	(241,935)	(69,201)
Provision (benefit) for income taxes:
Income (loss) before income taxes	(130,979)	(60,724)	(885,370)	(50,102)
Total income taxes	160,986	(31,309)	(113,111)	(51,074)
Deferred	160,986	(31,309)	(113,111)	(51,074)
Net income (loss)	(291,965)	(29,415)	(772,259)	972
Comprehensive income (loss)	(297,564)	(65)	(820,517)	14,223
Guarantor Subsidiaries [Member]
Operating revenue:
Oil production	103,380	112,103	311,618	380,295
Natural gas production	10,256	14,153	33,236	67,543
Natural gas liquids production	2,478	5,194	7,921	20,627
Other operational income	0	51		394
Derivative income, net	2,444	5,782	4,871	2,667
Total operating revenue	118,558	137,283	357,646	471,526
Operating expenses:
Lease operating expenses	21,562	37,942	66,481	125,240
Transportation, processing and gathering expenses	4,511	2,342	8,072	10,293
Production taxes	275	715	983	3,450
Depreciation, depletion and amortization	34,418	43,693	112,627	160,734
Write-down of oil and gas properties		0		0
Accretion expense	6,406	6,483	19,041	21,642
Salaries, general and administrative expenses	200	1	201	3
Other operational expenses	300	4	300	40
Total operating expenses	67,672	91,180	207,705	321,402
Income (loss) from operations	50,886	46,103	149,941	150,124
Other (income) expenses:
Interest expense	1	7	22	44
Interest income	(7)	(82)	(42)	(181)
Other income	(294)	(531)	(727)	(1,587)
Other expense	0
Total other expenses	(300)	(606)	(747)	(1,724)
Provision (benefit) for income taxes:
Income (loss) before income taxes	51,186	46,709	150,688	151,848
Total income taxes	(193,059)	16,814	(167,649)	54,673
Deferred	(193,059)	16,814	(167,649)	54,673
Net income (loss)	244,245	29,895	318,337	97,175
Comprehensive income (loss)	244,245	29,895	318,337	97,175
Non-Guarantor Subsidiaries [Member]
Operating expenses:
Lease operating expenses	2		2
Write-down of oil and gas properties	0		45,169
Salaries, general and administrative expenses	4	12	29	12
Total operating expenses	6	12	45,200	12
Income (loss) from operations	(6)	(12)	(45,200)	(12)
Other (income) expenses:
Interest income	(1)	(11)	(7)	(23)
Other income	0		(3)
Other expense	0
(Income) loss from investment in subsidiaries	16,272	2	45,190	(10)
Total other expenses	16,271	(9)	45,180	(33)
Provision (benefit) for income taxes:
Income (loss) before income taxes	(16,277)	(3)	(90,380)	21
Total income taxes	16,267		0
Deferred	16,267		0
Net income (loss)	(32,544)	(3)	(90,380)	21
Comprehensive income (loss)	(32,544)	(3)	(90,380)	21
Eliminations [Member]
Other (income) expenses:
(Income) loss from investment in subsidiaries	211,701	29,892	227,957	97,196
Total other expenses	211,701	29,892	227,957	97,196
Provision (benefit) for income taxes:
Income (loss) before income taxes	(211,701)	(29,892)	(227,957)	(97,196)
Net income (loss)	(211,701)	(29,892)	(227,957)	(97,196)
Comprehensive income (loss)	$ (211,701)	$ (29,892)	$ (227,957)	$ (97,196)

Guarantor Financial Statement50

Guarantor Financial Statements - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (291,965)	$ (29,415)	$ (772,259)	$ 972
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	61,936	80,291	226,309	255,772
Write-down of oil and gas properties	295,679	47,130	1,011,385	47,130
Accretion expense	6,498	6,539	19,315	21,827
Deferred income tax (benefit) provision	(15,806)	(14,495)	(280,760)	3,599
Settlement of asset retirement obligations			(59,826)	(47,217)
Non-cash stock compensation expense			9,163	8,409
Non-cash derivative (income) expense			10,854	(2,386)
Non-cash interest expense			13,210	12,393
Change in current income taxes			7,211	(6)
(Increase) decrease in accounts receivable			33,895	(1,805)
Increase in other current assets			(1,090)	(10)
Decrease in accounts payable			(11,592)	(3,547)
Increase (decrease) in other current liabilities			(6,753)	37,441
Other			(82)	(172)
Net cash provided by operating activities			198,980	332,400
Cash flows from investing activities:
Investment in oil and gas properties			(385,528)	(727,488)
Proceeds from sale of oil and gas properties, net of expenses			11,643	223,299
Investment in fixed and other assets			(1,455)	(8,790)
Change in restricted funds			179,475	(185,752)
Net cash used in investing activities			(195,865)	(698,731)
Cash flows from financing activities:
Proceeds from bank borrowings			5,000	0
Net proceeds from issuance of common stock			0	225,999
Repayments of bank borrowings			(5,000)	0
Deferred financing costs			0	(3,329)
Net payments for share-based compensation			(3,127)	(7,161)
Net cash provided by (used in) financing activities			(3,127)	215,509
Effect of exchange rate changes on cash			(2)	(95)
Net change in cash and cash equivalents			(14)	(150,917)
Cash and cash equivalents, beginning of period			74,488	331,224
Cash and cash equivalents, end of period	74,474	180,307	74,474	180,307
Parent [Member]
Cash flows from operating activities:
Net income (loss)	(291,965)	(29,415)	(772,259)	972
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	27,518	36,598	113,682	95,038
Write-down of oil and gas properties	295,679	47,130	966,216	47,130
Accretion expense	92	56	274	185
Deferred income tax (benefit) provision	160,986	(31,309)	(113,111)	(51,074)
Settlement of asset retirement obligations			(15)	(84)
Non-cash stock compensation expense			9,163	8,409
Non-cash interest expense			13,210	12,393
Change in current income taxes			7,211	(6)
Non-cash (income) expense from investment in subsidiaries			(273,147)	(97,185)
Change in intercompany receivables/payables			31,320	(119,004)
(Increase) decrease in accounts receivable			29,561	125,593
Increase in other current assets			(1,050)	(2)
(Increase) decrease in inventory			(2,415)
Decrease in accounts payable			(7,562)	900
Increase (decrease) in other current liabilities			(6,855)	39,329
Other			645	1,414
Net cash provided by operating activities			(5,132)	64,008
Cash flows from investing activities:
Investment in oil and gas properties			(177,497)	(225,831)
Proceeds from sale of oil and gas properties, net of expenses				12,197
Investment in fixed and other assets			(1,455)	(8,790)
Change in restricted funds			177,647	(177,647)
Net cash used in investing activities			(1,305)	(400,071)
Cash flows from financing activities:
Proceeds from bank borrowings			5,000
Net proceeds from issuance of common stock				225,999
Repayments of bank borrowings			(5,000)
Deferred financing costs				(3,329)
Net payments for share-based compensation			(3,127)	(7,161)
Net cash provided by (used in) financing activities			(3,127)	215,509
Net change in cash and cash equivalents			(9,564)	(120,554)
Cash and cash equivalents, beginning of period			72,886	246,294
Cash and cash equivalents, end of period	63,322	125,740	63,322	125,740
Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)	244,245	29,895	318,337	97,175
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	34,418	43,693	112,627	160,734
Write-down of oil and gas properties		0		0
Accretion expense	6,406	6,483	19,041	21,642
Deferred income tax (benefit) provision	(193,059)	16,814	(167,649)	54,673
Settlement of asset retirement obligations			(59,811)	(47,133)
Non-cash derivative (income) expense			10,854	(2,386)
Change in intercompany receivables/payables			(41,056)	90,313
(Increase) decrease in accounts receivable			4,317	(127,363)
(Increase) decrease in inventory			2,415
Decrease in accounts payable			(4,030)	(4,447)
Increase (decrease) in other current liabilities			102	(1,888)
Other			(727)	(1,586)
Net cash provided by operating activities			194,420	239,734
Cash flows from investing activities:
Investment in oil and gas properties			(197,471)	(480,686)
Proceeds from sale of oil and gas properties, net of expenses			11,643	211,102
Net cash used in investing activities			(185,828)	(269,584)
Cash flows from financing activities:
Net change in cash and cash equivalents			8,592	(29,850)
Cash and cash equivalents, beginning of period			1,450	84,290
Cash and cash equivalents, end of period	10,042	54,440	10,042	54,440
Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)	(32,544)	(3)	(90,380)	21
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Write-down of oil and gas properties	0		45,169
Deferred income tax (benefit) provision	16,267		0
Non-cash (income) expense from investment in subsidiaries			45,190	(11)
Change in intercompany receivables/payables			9,736	28,691
(Increase) decrease in accounts receivable			17	(35)
Increase in other current assets			(40)	(8)
Net cash provided by operating activities			9,692	28,658
Cash flows from investing activities:
Investment in oil and gas properties			(10,560)	(20,971)
Change in restricted funds			1,828	(8,105)
Investment in subsidiaries			(9,708)	(29,253)
Net cash used in investing activities			(18,440)	(58,329)
Cash flows from financing activities:
Equity proceeds from parent			9,708	29,253
Net cash provided by (used in) financing activities			9,708	29,253
Effect of exchange rate changes on cash			(2)	(95)
Net change in cash and cash equivalents			958	(513)
Cash and cash equivalents, beginning of period			152	640
Cash and cash equivalents, end of period	1,110	127	1,110	127
Eliminations [Member]
Cash flows from operating activities:
Net income (loss)	(211,701)	$ (29,892)	(227,957)	(97,196)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Non-cash (income) expense from investment in subsidiaries			227,957	97,196
Cash flows from investing activities:
Investment in subsidiaries			9,708	29,253
Net cash used in investing activities			9,708	29,253
Cash flows from financing activities:
Equity proceeds from parent			(9,708)	(29,253)
Net cash provided by (used in) financing activities			(9,708)	$ (29,253)
Cash and cash equivalents, end of period	$ 0		$ 0