Stone Energy (SGY) 10-Q 3 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 02, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
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		5,689,930

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 169,194		$ 10,759	$ 141,655		$ 74,488
Accounts receivable	38,276		48,031
Fair value of derivative contracts	11,887		38,576
Current income tax receivable	46,174		46,174
Other current assets	12,080		6,881
Total current assets	277,611		150,421
Oil and gas properties, full cost method of accounting:
Proved	9,518,245		9,375,898
Less: accumulated depreciation, depletion and amortization	(8,960,440)		(8,603,955)
Net proved oil and gas properties	557,805		771,943
Unevaluated	425,204		440,043
Other property and equipment, net	27,968		29,289
Other assets, net	28,183		18,473
Total assets	1,316,771		1,410,169
Current liabilities:
Accounts payable to vendors	28,914		82,207
Undistributed oil and gas proceeds	5,071		5,992
Accrued interest	9,773		9,022
Fair value of derivative contracts	37		0
Asset retirement obligations	33,695		21,291
Current portion of long-term debt	288,336		0
Other current liabilities	34,793		40,712
Total current liabilities	400,619		159,224
Long-term debt	1,122,901		1,060,955
Asset retirement obligations	203,661		204,575
Other long-term liabilities	18,446		25,204
Total liabilities	1,745,627		1,449,958
Commitments and contingencies
Stockholders’ equity:
Common stock, $.01 par value; authorized 30,000,000 shares; issued 5,592,641 and 5,530,232 shares, respectively	56		55
Treasury stock (1,658 shares, at cost)	(860)		(860)
Additional paid-in capital	1,654,731		1,648,687
Accumulated deficit	(2,090,168)		(1,705,623)
Accumulated other comprehensive income	7,385	$ 18,700	17,952	$ 40,700	$ 70,800	$ 83,300
Total stockholders’ equity	(428,856)		(39,789)
Total liabilities and stockholders’ equity	$ 1,316,771		$ 1,410,169

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	5,592,641	5,530,232
Treasury stock, shares (in shares)	1,658	1,658

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating revenue:
Oil production	$ 72,711	$ 111,585	$ 132,986	$ 219,092
Natural gas production	12,553	26,907	27,726	55,244
Natural gas liquids production	3,718	11,033	8,453	23,399
Other operational income	337	0	693	1,792
Derivative income, net	0	0	0	2,427
Total operating revenue	89,319	149,525	169,858	301,954
Operating expenses:
Lease operating expenses	18,826	27,429	38,373	55,006
Transportation, processing and gathering expenses	7,183	19,940	8,024	37,643
Production taxes	578	1,827	1,059	4,342
Depreciation, depletion and amortization	46,231	77,951	107,789	164,373
Write-down of oil and gas properties	118,649	224,294	247,853	715,706
Accretion expense	10,082	6,408	20,065	12,817
Salaries, general and administrative expenses	20,014	16,418	32,768	33,425
Incentive compensation expense	4,670	1,264	9,649	2,827
Restructuring fees	9,436	0	10,389	0
Other operational expenses	27,680	1,454	40,207	1,170
Derivative expense, net	626	701	488	0
Total operating expenses	263,975	377,686	516,664	1,027,309
Loss from operations	(174,656)	(228,161)	(346,806)	(725,355)
Other (income) expenses:
Interest expense	17,599	10,472	32,840	20,837
Interest income	(302)	(66)	(416)	(188)
Other income	(270)	(613)	(568)	(756)
Other expense	9	0	11	0
Total other expenses	17,036	9,793	31,867	19,893
Loss before income taxes	(191,692)	(237,954)	(378,673)	(745,248)
Provision (benefit) for income taxes:
Current	(2,113)	0	(3,187)	0
Deferred	6,182	(85,048)	9,059	(264,954)
Total income taxes	4,069	(85,048)	5,872	(264,954)
Net loss	$ (195,761)	$ (152,906)	$ (384,545)	$ (480,294)
Basic loss per share (usd per share)	$ (35.05)	$ (27.68)	$ (68.94)	$ (86.99)
Diluted loss per share (usd per share)	$ (35.05)	$ (27.68)	$ (68.94)	$ (86.99)
Average shares outstanding (in shares)	5,585	5,525	5,578	5,521
Average shares outstanding assuming dilution (in shares)	5,585	5,525	5,578	5,521

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (195,761)	$ (152,906)	$ (384,545)	$ (480,294)
Other comprehensive income (loss), net of tax effect:
Derivatives	(11,356)	(31,480)	(16,640)	(40,338)
Foreign currency translation	0	1,324	6,073	(2,321)
Comprehensive loss	$ (207,117)	$ (183,062)	$ (395,112)	$ (522,953)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net loss	$ (384,545)	$ (480,294)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	107,789	164,373
Write-down of oil and gas properties	247,853	715,706
Accretion expense	20,065	12,817
Deferred income tax provision (benefit)	9,059	(264,954)
Settlement of asset retirement obligations	(10,706)	(35,923)
Non-cash stock compensation expense	4,682	6,028
Non-cash derivative expense	1,025	7,931
Non-cash interest expense	9,403	8,737
Other non-cash expense	6,081	0
Change in current income taxes	(3,187)	7,206
Decrease in accounts receivable	9,755	23,047
Increase in other current assets	(5,283)	(1,959)
Decrease in accounts payable	(321)	(7,826)
Decrease in other current liabilities	(5,920)	(8,720)
Other	(7,880)	(504)
Net cash (used in) provided by operating activities	(2,130)	145,665
Cash flows from investing activities:
Investment in oil and gas properties	(179,311)	(264,355)
Proceeds from sale of oil and gas properties, net of expenses	0	10,100
Investment in fixed and other assets	(898)	(727)
Change in restricted funds	1,045	179,475
Net cash used in investing activities	(179,164)	(75,507)
Cash flows from financing activities:
Proceeds from bank borrowings	477,000	5,000
Repayments of bank borrowings	(135,500)	(5,000)
Repayments of building loan	(189)	0
Deferred financing costs	(900)	0
Net payments for share-based compensation	(673)	(3,069)
Net cash provided by (used in) financing activities	339,738	(3,069)
Effect of exchange rate changes on cash	(9)	78
Net change in cash and cash equivalents	158,435	67,167
Cash and cash equivalents, beginning of period	10,759	74,488
Cash and cash equivalents, end of period	$ 169,194	$ 141,655

Interim Financial Statements

Interim Financial Statements	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Interim Financial Statements	Interim Financial Statements The condensed consolidated financial statements of Stone Energy Corporation (“Stone” or the "Company") and its subsidiaries as of June 30, 2016 and for the three and six month periods ended June 30, 2016 and 2015 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, 2015 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, 2015 (our “ 2015 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 2015 Annual Report on Form 10-K. The results of operations for the three and six month periods ended June 30, 2016 are not necessarily indicative of future financial results. Certain prior period amounts have been reclassified to conform to current period presentation. On May 27, 2016, the board of directors of the Company approved a 1-for-10 reverse stock split of the Company's issued and outstanding shares of common stock. The reverse stock split was effective upon the filing and effectiveness of a certificate of amendment to the Company's certificate of incorporation after the market closed on June 10, 2016, and the common stock began trading on a split-adjusted basis when the market opened on June 13, 2016. The effect of the reverse stock split was to combine each 10 shares of outstanding common stock prior to the reverse split into one new share subsequent to the reverse split. The Company's authorized shares of common stock were proportionately decreased in connection with the reverse stock split. Additionally, the overall and per share limitations in the Company’s 2009 Amended and Restated Stock Incentive Plan, as amended from time to time, and outstanding awards thereunder were also proportionately adjusted. The Company retained the current par value of $.01 per share for all shares of common stock. All references in the financial statements and notes thereto to number of shares, per share data, restricted stock and stock option data have been retroactively adjusted to give effect to the 1-for-10 reverse stock split. Stockholders' equity reflects the reverse stock split by reclassifying from common stock to additional paid-in capital an amount equal to the par value of the reduction in the number of shares as a result of the reverse split.

Going Concern

Going Concern	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Going Concern	Going Concern The accompanying condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates continuity of operations, realization of assets and the satisfaction of liabilities in the normal course of business for the twelve month period following the date of these condensed consolidated financial statements. As such, the accompanying condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of assets and their carrying amounts, or the amount and classification of liabilities that may result should the Company be unable to continue as a going concern. The level of our indebtedness of $1,428 million as of June 30, 2016 and the current commodity price environment have presented challenges as they relate to our ability to comply with the covenants in the agreements governing our indebtedness, particularly the maximum Consolidated Funded Debt to consolidated EBITDA (“Consolidated Funded Leverage”) financial covenant set forth in our bank credit agreement. If we exceed the maximum Consolidated Funded Leverage financial covenant, we would be required to seek a waiver or amendment from our bank lenders. If we are unable to reach an agreement with our banks or find acceptable alternative financing, it may lead to an event of default under our bank credit facility. If following an event of default, the banks were to accelerate repayment under the bank credit facility, it would result in an event of default and may result in the acceleration of our other debt instruments. On June 14, 2016, we entered into an amendment to the bank credit facility (see Note 5 – Debt ) which, among other things, requires that we maintain minimum liquidity of $125.0 million through January 15, 2017 and revised the maximum Consolidated Funded Leverage financial covenant from 3.75 to 1 to 5.25 to 1 for the fiscal quarter ended June 30, 2016, 6.50 to 1 for the fiscal quarter ending September 30, 2016, 9.50 to 1 for the fiscal quarter ending December 31, 2016 and 3.75 to 1 thereafter. We were in compliance with all covenants under the bank credit facility as of June 30, 2016, however, the minimum liquidity requirement and other restrictions under the credit facility may prevent us from being able to meet our interest payment obligation on the 7½% Senior Notes due in 2022 (the “2022 Notes”) in the fourth quarter of 2016 as well as the subsequent maturity of our 1¾% Senior Convertible Notes due in March 2017 (the “2017 Convertible Notes”). Additionally, we anticipate that we could exceed the Consolidated Funded Leverage financial covenant of 3.75 to 1 at the end of the first quarter of 2017 unless a material portion of our debt is repaid, reduced or exchanged into equity. These conditions raise substantial doubt about our ability to continue as a going concern. We are in the process of analyzing various strategic alternatives to address our liquidity and capital structure, including strategic and refinancing alternatives through a private restructuring, asset sales and a prepackaged or prearranged bankruptcy filing. We cannot provide any assurances that we will be able to complete a private restructuring or asset sales on satisfactory terms to provide the liquidity to restructure or pay down our senior indebtedness.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
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 Six Months Ended 2016 2015 2016 2015 (In thousands, except per share data) Income (numerator): Basic: Net loss $ (195,761 ) $ (152,906 ) $ (384,545 ) $ (480,294 ) Net income attributable to participating securities — — — — Net loss attributable to common stock - basic $ (195,761 ) $ (152,906 ) $ (384,545 ) $ (480,294 ) Diluted: Net loss $ (195,761 ) $ (152,906 ) $ (384,545 ) $ (480,294 ) Net income attributable to participating securities — — — — Net loss attributable to common stock - diluted $ (195,761 ) $ (152,906 ) $ (384,545 ) $ (480,294 ) Weighted average shares (denominator): Weighted average shares - basic 5,585 5,525 5,578 5,521 Dilutive effect of stock options — — — — Dilutive effect of convertible notes — — — — Weighted average shares - diluted 5,585 5,525 5,578 5,521 Basic loss per share $ (35.05 ) $ (27.68 ) $ (68.94 ) $ (86.99 ) Diluted loss per share $ (35.05 ) $ (27.68 ) $ (68.94 ) $ (86.99 ) All outstanding stock options were considered antidilutive during the three and six months ended June 30, 2016 (approximately 12,900 shares) and during the three and six months ended June 30, 2015 (approximately 17,400 shares) because we had net losses for such periods. During the three months ended June 30, 2016 and 2015 , approximately 12,100 shares and 2,900 shares of our common stock, respectively, were issued from authorized shares upon the lapsing of forfeiture restrictions of restricted stock for employees and nonemployee directors. During the six months ended June 30, 2016 and 2015 , approximately 62,200 shares and 39,900 shares of our common stock, respectively, were issued from authorized shares upon the lapsing of forfeiture restrictions of restricted stock for employees and nonemployee directors. For the three and six months ended June 30, 2016 and 2015 , the 2017 Convertible Notes had no dilutive effect on the diluted earnings per share computation as we had net losses for such periods. For the three and six months ended June 30, 2016 and 2015 , the average price of our common stock was less than the strike price of the Sold Warrants (as defined in Note 5 – Debt ) and therefore, such warrants were not dilutive for such periods. Based on the terms of the Purchased Call Options (as defined in Note 5 – 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	6 Months Ended
	Jun. 30, 2016
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 collars with various counterparties for a portion of our expected 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, The Bank of Nova Scotia and Natixis. Our oil collar contract is with The Bank of Nova Scotia. All of our derivative transactions have been carried out in the over-the-counter market and are not typically subject to margin-deposit requirements. The use of derivative instruments involves the risk that the counterparties will be unable to meet the financial terms of such transactions. The counterparties to all of our derivative instruments have an "investment grade" credit rating. We monitor the credit ratings of our derivative counterparties on an ongoing basis. Although we have entered into derivative contracts with multiple counterparties to mitigate our exposure to any individual counterparty, if any of our counterparties were to default on its obligations to us under the derivative contracts or seek bankruptcy protection, we may not realize the benefit of some of our derivative instruments and incur a loss. At August 2, 2016 , two counterparties accounted for approximately 86% of our contracted volumes. All of our derivative instruments are with lenders under our bank credit facility. The following tables illustrate our derivative positions for calendar year 2016 as of August 2, 2016 : Fixed-Price Swaps (NYMEX) Natural Gas Oil Daily Volume (MMBtus/d) Swap Price ($) Daily Volume (Bbls/d) Swap Price ($) 2016 10,000 4.110 1,000 49.75 2016 10,000 4.120 1,000 52.78 2016 1,000 90.00 Collar (NYMEX) Oil Daily Volume (Bbls/d) Floor Price ($) Ceiling Price ($) 2016 1,000 45.00 54.75 We previously discontinued hedge accounting for certain 2015 natural gas contracts, as it became no longer probable that our Gulf of Mexico ("GOM") natural gas production would be sufficient to cover the GOM volumes hedged. 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 June 30, 2016 , we had accumulated other comprehensive income of $7.4 million , net of tax, related to the fair value of our effective cash flow hedges that were outstanding as of June 30, 2016 . The $7.4 million 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 June 30, 2016 and December 31, 2015 . We had an immaterial collar contract qualifying as a hedging instrument, with a fair value of approximately $37,000 , classified as a current liability in our balance sheet at June 30, 2016. Fair Value of Derivatives Qualifying as Hedging Instruments at June 30, 2016 (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 $ 11.9 Current liabilities: Fair value of derivative contracts $ — Long-term assets: Fair value of derivative contracts — Long-term liabilities: Fair value of derivative contracts — $ 11.9 $ — Fair Value of Derivatives Qualifying as Hedging Instruments at December 31, 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 $ 38.6 Current liabilities: Fair value of derivative contracts $ — Long-term assets: Fair value of derivative contracts — Long-term liabilities: Fair value of derivative contracts — $ 38.6 $ — 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 six month periods ended June 30, 2016 and 2015 . Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Three Months Ended June 30, 2016 and 2015 (In millions) Derivatives in Amount of Gain Gain (Loss) Reclassified from Gain (Loss) Recognized in Income 2016 2015 Location 2016 2015 Location 2016 2015 Commodity contracts $ (8.6 ) $ (18.8 ) Operating revenue - oil/natural gas production $ 8.9 $ 30.4 Derivative income (expense), net $ (0.6 ) $ (0.4 ) Total $ (8.6 ) $ (18.8 ) $ 8.9 $ 30.4 $ (0.6 ) $ (0.4 ) (a) For the three months ended June 30, 2016 , effective hedging contracts increased oil revenue by $5.1 million and increased natural gas revenue by $3.8 million . For the three months ended June 30, 2015 , effective hedging contracts increased oil revenue by $26.4 million and increased natural gas revenue by $4.0 million . Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Six Months Ended June 30, 2016 and 2015 (In millions) Derivatives in Amount of Gain Gain (Loss) Reclassified from Gain (Loss) Recognized in Income 2016 2015 Location 2016 2015 Location 2016 2015 Commodity contracts $ (4.0 ) $ 4.1 Operating revenue - $ 21.7 $ 67.2 Derivative income $ (0.5 ) $ 0.5 Total $ (4.0 ) $ 4.1 $ 21.7 $ 67.2 $ (0.5 ) $ 0.5 (a) For the six months ended June 30, 2016 , effective hedging contracts increased oil revenue by $14.4 million and increased natural gas revenue by $7.3 million . For the six months ended June 30, 2015 , effective hedging contracts increased oil revenue by $60.4 million and increased natural gas revenue by $6.8 million . 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 six month periods ended June 30, 2016 and 2015 . Gain (Loss) Recognized in Derivative Income (Expense) (In millions) Three Months Ended Six Months Ended Description 2016 2015 2016 2015 Commodity contracts: Cash settlements $ — $ 4.1 $ — $ 7.2 Change in fair value — (4.4 ) — (5.3 ) Total gains (losses) on non-qualifying hedges $ — $ (0.3 ) $ — $ 1.9 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. As of June 30, 2016 , all of our derivative contracts, other than our collar contract, were in an asset position. The potential impact of the rights of offset of our collar contract was immaterial at June 30, 2016. As of December 31, 2015 , all of our derivative contracts were in an asset position and therefore, there was no potential impact of the rights of offset.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt Our debt balances (net of related unamortized discounts and debt issuance costs) as of June 30, 2016 and December 31, 2015 were as follows: June 30, December 31, (In millions) 1 3 ⁄ 4 % Senior Convertible Notes due 2017 $ 287.9 $ 279.3 7 1 ⁄ 2 % Senior Notes due 2022 770.3 770.0 Revolving credit facility 341.5 — 4.20% Building Loan 11.5 11.7 Total debt 1,411.2 1,061.0 Less: current portion of long-term debt (288.3 ) — Long-term debt $ 1,122.9 $ 1,061.0 Current Portion of Long-Term Debt. As of June 30, 2016 , the current portion of long-term debt of $288.3 million consisted of $287.9 million of 2017 Convertible Notes and $0.4 million of principal payments due within one year on the Building Loan. Revolving Credit Facility. On June 24, 2014 , we entered into a revolving credit facility (the Fourth Amended and Restated Credit Agreement dated as of June 24, 2014) with commitments totaling $900 million (subject to borrowing base limitations) through a syndicated bank group, with an initial borrowing base of $500 million . The bank credit facility matures on July 1, 2019 . On April 13, 2016 , our borrowing base under the bank credit facility was reduced from $500 million to $300 million . On that date, we had $457 million of outstanding borrowings and $18.3 million of outstanding letters of credit, or $175.3 million in excess of the redetermined borrowing base (referred to as a borrowing base deficiency). Our agreement with the banks provides that within 30 days after notification of a borrowing base deficiency, we must elect to cure the borrowing base deficiency through any combination of the following actions: (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. We elected to pay the deficiency in six equal monthly installments, making the first payment of $29.2 million on May 13, 2016 and the second payment of $29.2 million on June 13, 2016. On June 14, 2016, we entered into Amendment No. 3 (the "Amendment") to the bank credit facility to (i) increase the borrowing base to $360 million from $300 million , (ii) provide for no redetermination of the borrowing base by the lenders until January 15, 2017, other than an automatic reduction upon the sale of certain of our properties, (iii) permit second lien indebtedness to refinance the existing 2017 Convertible Notes and 2022 Notes, (iv) revise the maximum Consolidated Funded Leverage financial covenant to be 5.25 to 1 for the fiscal quarter ended June 30, 2016, 6.50 to 1 for the fiscal quarter ending September 30, 2016, 9.50 to 1 for the fiscal quarter ending December 31, 2016 and 3.75 to 1 thereafter, (v) require minimum liquidity (as defined in the Amendment) of at least $125.0 million until January 15, 2017, (vi) impose limitations on capital expenditures of $60 million for the period of June 1, 2016 through December 31, 2016, but allowing for an additional $25 million to be expended for Appalachian drilled but uncompleted wells, (vii) grant the lenders a perfected security interest in all deposit accounts and (viii) provide for anti-hoarding cash provisions for amounts in excess of $50.0 million to apply after December 10, 2016. Upon execution of the Amendment, we repaid $56.8 million in borrowings under the credit facility, which eliminated the borrowing base deficiency and brought the total borrowings and letters of credit outstanding under the bank credit facility in conformity with the borrowing base limitation. On June 30 and August 2, 2016, we had $341.5 million of outstanding borrowings and $18.3 million of outstanding letters of credit, leaving $0.2 million of availability under the bank credit facility. The weighted average interest rate under the bank credit facility was approximately 4.3% at June 30, 2016 . 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 June 30, 2016 , 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. However, the Amendment provides for no redetermination of the borrowing base by the lenders until January 15, 2017, other than an automatic reduction upon the sale of certain of our properties. The bank credit facility is collateralized by substantially all of our assets and the assets of our material subsidiaries. We are required to mortgage, and grant a security interest in, our oil and natural gas reserves representing at least 86% of the discounted present value of the future net cash flows from our 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 our election. The margin for loans at the LIBOR rate is determined based on borrowing base utilization and ranges from 1.500% to 2.500% . In addition to the covenants discussed above, the bank credit facility provides that we must maintain a ratio of consolidated EBITDA to consolidated Net Interest Expense, as defined in the credit agreement, for the preceding four quarterly periods of not less than 2.5 to 1. The bank credit facility also includes certain customary restrictions or requirements with respect to disposition of properties, incurrence of additional debt, change of control and reporting responsibilities. These covenants may limit or prohibit us from paying cash dividends but do allow for limited stock repurchases. These covenants also restrict our ability to prepay other indebtedness under certain circumstances. We were in compliance with all covenants as of June 30, 2016. 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 corresponded to an initial conversion price of approximately $42.65 per share of our common stock at the time of the issuance of the 2017 Convertible Notes. 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. On June 10, 2016, we completed a 1-for-10 reverse stock split with respect to our common stock (see Note 1 – Interim Financial Statements ). Proportional adjustments were made to the conversion price and shares as they relate to the 2017 Convertible Notes, resulting in a conversion rate of 2.34449 shares of our common stock with a corresponding conversion price of $426.50 per share. On June 30, 2016 , our closing share price was $12.06 per share. 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), and interest is payable on the 2017 Convertible Notes each March 1and September 1. 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 703,347 shares of our common stock at a strike price that corresponds to the initial conversion price of the 2017 Convertible Notes (after the effectiveness of the reverse stock split of 1-for-10), 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 703,347 shares of our common stock (the “Sold Warrants”) at a strike price of $559.10 per share of our common stock (after the effectiveness of the reverse stock split of 1-for-10). 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 June 30, 2016 , the carrying amount of the liability component of the 2017 Convertible Notes of $287.9 million was classified as a current liability. During the three and six months ended June 30, 2016 , we recognized $4.0 million and $7.9 million , respectively, of interest expense for the amortization of the discount and $0.4 million and $0.8 million , respectively, of interest expense for the amortization of deferred financing costs related to the 2017 Convertible Notes. During the three and six months ended June 30, 2015 , we recognized $3.7 million and $7.4 million , respectively, of interest expense for the amortization of the discount and $0.4 million and $0.7 million , respectively, of interest expense for the amortization of deferred financing costs related to the 2017 Convertible Notes. During the three and six month periods ended June 30, 2016 , we recognized $1.3 million and $2.6 million , respectively, of interest expense related to the contractual interest coupon on the 2017 Convertible Notes. During the three and six month periods ended June 30, 2015 , we recognized $1.3 million and $2.6 million , respectively, of interest expense related to the contractual interest coupon on the 2017 Convertible Notes.

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The change in our asset retirement obligations during the six months ended June 30, 2016 is set forth below: Six Months Ended (In millions) Asset retirement obligations as of the beginning of the period, including current portion $ 225.9 Liabilities incurred 2.1 Liabilities settled (10.7 ) Accretion expense 20.1 Asset retirement obligations as of the end of the period, including current portion $ 237.4

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes As a result of the significant declines in commodity prices and the resulting ceiling test write-downs and net losses incurred, we determined during 2015 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 valuation allowance against a portion of our deferred tax assets. As of June 30, 2016, our valuation allowance totaled $322.8 million. Our effective tax rate for the six months ended June 30, 2016 was 2.1% . This percentage differed from the federal statutory rate of 35.0% primarily due to the establishment of the valuation allowance against deferred tax assets. 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. We had a current income tax receivable of $46.2 million at June 30, 2016, which relates to expected tax refunds from the carryback of net operating losses to previous tax years. Additionally, we had $3.2 million of non-current income tax receivables at June 30, 2016 reflected in Other Assets, as they aren’t expected to be received within twelve months.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and December 31, 2015 , we held certain financial assets 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 contracts are included within the Level 2 fair value hierarchy, and our collar contracts are included within the Level 3 fair value hierarchy. Significant unobservable inputs used in establishing fair value for the collars were the volatility impacts in the pricing model as it relates to the call portion of the collar. For a more detailed description of our derivative instruments, see Note 4 – 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. We had no liabilities measured at fair value on a recurring basis at December 31, 2015. At June 30, 2016, we had an immaterial collar contract in a liability position, measured at fair value on a recurring basis. The following tables present our assets that are measured at fair value on a recurring basis at June 30, 2016 and December 31, 2015. Fair Value Measurements at June 30, 2016 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) $ 8.6 $ 8.6 $ — $ — Derivative contracts 11.9 — 11.9 — Total $ 20.5 $ 8.6 $ 11.9 $ — Fair Value Measurements at December 31, 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) $ 8.5 $ 8.5 $ — $ — Derivative contracts 38.6 — 36.6 2.0 Total $ 47.1 $ 8.5 $ 36.6 $ 2.0 The table below presents a reconciliation for assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2016 . Hedging Contracts, net (In millions) Balance as of January 1, 2016 $ 2.0 Total gains/(losses) (realized or unrealized): Included in earnings 1.1 Included in other comprehensive income (1.9 ) Purchases, sales, issuances and settlements (1.2 ) Transfers in and out of Level 3 — Balance as of June 30, 2016 $ — The amount of total gains/(losses) for the period included in earnings (derivative income) attributable to the change in unrealized gain/(losses) relating to derivatives still held at June 30, 2016 $ — The fair value of cash and cash equivalents approximated book value at June 30, 2016 and December 31, 2015 . As of June 30, 2016 and December 31, 2015 , the fair value of the liability component of the 2017 Convertible Notes was approximately $258.5 million and $217.1 million , respectively. As of June 30, 2016 and December 31, 2015 , the fair value of the 2022 Notes was approximately $348.8 million and $271.3 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 5 – Debt ) at inception, June 30, 2016 and December 31, 2015 . 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)	6 Months Ended
	Jun. 30, 2016
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 six months ended June 30, 2016 , were as follows (in millions): Cash Flow Hedges Foreign Currency Items Total Three Months Ended June 30, 2016 Beginning balance, net of tax $ 18.7 $ — $ 18.7 Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives (8.6 ) — (8.6 ) Income tax effect 3.1 — 3.1 Net of tax (5.5 ) — (5.5 ) Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 8.9 — 8.9 Income tax effect (3.1 ) — (3.1 ) Net of tax 5.8 — 5.8 Other comprehensive loss, net of tax (11.3 ) — (11.3 ) Ending balance, net of tax $ 7.4 $ — $ 7.4 Cash Flow Hedges Foreign Currency Items Total Six Months Ended June 30, 2016 Beginning balance, net of tax $ 24.0 $ (6.0 ) $ 18.0 Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives (4.0 ) — (4.0 ) Income tax effect 1.4 — 1.4 Net of tax (2.6 ) — (2.6 ) Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 21.7 — 21.7 Other operational expenses — (6.0 ) (6.0 ) Income tax effect (7.7 ) — (7.7 ) Net of tax 14.0 (6.0 ) 8.0 Other comprehensive income (loss), net of tax (16.6 ) 6.0 (10.6 ) Ending balance, net of tax $ 7.4 $ — $ 7.4 Changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2015 , were as follows (in millions): Cash Flow Hedges Foreign Currency Items Total Three Months Ended June 30, 2015 Beginning balance, net of tax $ 77.9 $ (7.1 ) $ 70.8 Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives (18.8 ) — (18.8 ) Foreign currency translations — 1.3 1.3 Income tax effect 6.9 — 6.9 Net of tax (11.9 ) 1.3 (10.6 ) Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 30.4 — 30.4 Income tax effect (10.9 ) — (10.9 ) Net of tax 19.5 — 19.5 Other comprehensive income (loss), net of tax (31.4 ) 1.3 (30.1 ) Ending balance, net of tax $ 46.5 $ (5.8 ) $ 40.7 Cash Flow Foreign Total Six Months Ended June 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 4.1 — 4.1 Foreign currency translations — (2.3 ) (2.3 ) Income tax effect (1.3 ) — (1.3 ) Net of tax 2.8 (2.3 ) 0.5 Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 67.2 — 67.2 Income tax effect (24.1 ) — (24.1 ) Net of tax 43.1 — 43.1 Other comprehensive loss, net of tax (40.3 ) (2.3 ) (42.6 ) Ending balance, net of tax $ 46.5 $ (5.8 ) $ 40.7 During the six months ended June 30, 2016 , we reclassified approximately $6.0 million of losses related to cumulative foreign currency translation adjustments from accumulated other comprehensive income into other operational expenses upon the substantial liquidation of our foreign subsidiary, Stone Energy Canada ULC.

Investment in Oil and Gas Prope

Investment in Oil and Gas Properties	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016, our ceiling test computation resulted in a write-down of our U.S. oil and gas properties of $118.6 million based on twelve-month average prices, net of applicable differentials, of $43.49 per Bbl of oil, $1.93 per Mcf of natural gas and $9.33 per Bbl of natural gas liquids ("NGLs"). The write-down at June 30, 2016 was decreased by $18.1 million as a result of hedges. At March 31, 2016, our ceiling test computation resulted in a write-down of our U.S. oil and gas properties of $128.9 million based on twelve-month average prices, net of applicable differentials, of $46.72 per Bbl of oil, $2.01 per Mcf of natural gas and $13.65 per Bbl of NGLs, as compared to December 31, 2015 twelve-month average prices, net of applicable differentials, of $51.16 per Bbl of oil, $2.19 per Mcf of natural gas and $16.40 per Bbl of NGLs. At March 31, 2016, the write-down of oil and gas properties also included $0.3 million related to our Canadian oil and gas properties, which were deemed to be fully impaired at the end of 2015. The write-down at March 31, 2016 was decreased by $23 million as a result of hedges.

Other Operational Expenses

Other Operational Expenses	6 Months Ended
	Jun. 30, 2016
Other Income and Expenses [Abstract]
Other Operational Expenses	Other Operational Expenses Included in other operational expenses for the six months ended June 30, 2016 is a $6.0 million loss on the substantial liquidation of our foreign subsidiary, Stone Energy Canada ULC, representing cumulative foreign currency translation adjustments, which were reclassified from accumulated other comprehensive income. See Note 9 – Accumulated Other Comprehensive Income (Loss) . Also included in other operational expenses for the six months ended June 30, 2016 are approximately $13.6 million of rig subsidy and stacking charges related to the ENSCO 8503 deep water drilling rig, the Saxon Appalachian rig and the platform rig at Pompano and a $20 million charge related to the termination of our deep water drilling rig contract with Ensco.

Restructuring Fees

Restructuring Fees	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring Fees	Restructuring Fees In March 2016, we retained Lazard as our financial advisor and Latham & Watkins LLP as our legal advisor to assist the Company in analyzing and considering financial, transactional and strategic alternatives. We also retained Alvarez & Marsal to assist the Company through this process. In April 2016, the independent directors of our board of directors named current board member David T. Lawrence a Special Liaison of the Independent Directors to work together with the management team of the Company to help with assessing strategic and restructuring alternatives. Andrews Kurth LLP has also been hired as special counsel to the independent directors. Additionally, we are engaged in negotiations with financial advisors for certain holders of the 2017 Convertible Notes and 2022 Notes regarding the restructuring of the notes and in June 2016, we secured an amendment to our existing credit facility with our bank group. The legal and financial advisory costs associated with these restructuring efforts are included in the statement of operations as restructuring fees and totaled $9.4 million and $10.4 million for the three and six months ended June 30, 2016, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies On March 21, 2016, we received notice letters from the Bureau of Ocean Energy Management ("BOEM") stating that BOEM had determined that we no longer qualified for a supplemental bonding waiver under the financial criteria specified in BOEM’s guidance to lessees at such time. BOEM's notice letters indicated the amount of Stone's supplemental bonding needs could be as much as $565 million . In late March 2016, we proposed a tailored plan to BOEM for financial assurances relating to our abandonment obligations, which provides for posting some incremental financial assurances in favor of BOEM. On May 13, 2016, we received notice letters from BOEM rescinding its demand for supplemental bonding with the understanding that we will continue to make progress with BOEM in finalizing and implementing our long-term tailored plan. Currently, we have posted an aggregate of approximately $230 million in surety bonds in favor of BOEM, third party bonds and letters of credit, all relating to our offshore abandonment obligations. We have submitted our tailored plan to BOEM and are awaiting its review and approval. Our proposed plan would require approximately $16 million of incremental financial assurance or bonding for 2016, a majority of which may require cash collateral. Under the submitted plan, additional financial assurance would be required for subsequent years. There is no assurance this tailored plan will be approved by BOEM. Additionally, on July 14, 2016, BOEM issued a Notice to Lessees (“NTL”) that augments requirements for the posting of additional financial assurances by offshore lessees. We are reviewing the new NTL and its potential impact to Stone.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2016
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, " Leases (Topic 842) " to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The standard is effective for public entities for fiscal years beginning after December 15, 2018, and for interim periods within those fiscal years, with earlier application permitted. Upon adoption the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. We are currently evaluating the effect that this new standard may have on our financial statements. In March 2016, the FASB issued ASU 2016-09, " Compensation – Stock Compensation (Topic 718) " to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and forfeitures, as well as classification in the statement of cash flows. The standard is effective for public entities for fiscal years beginning after December 15, 2016, and for interim periods within those fiscal years. Early adoption is permitted for any entity in any interim or annual period. An entity that elects early adoption must adopt all of the amendments in ASU 2016-09 in the same period. We are currently evaluating the effect that this new standard may have on our financial statements, but we do not anticipate the implementation of this new standard will have a material effect.

New York Stock Exchange Complia

New York Stock Exchange Compliance	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
New York Stock Exchange Compliance	New York Stock Exchange Compliance On April 29, 2016, we were notified by the New York Stock Exchange (“NYSE”) that we were not in compliance with the NYSE's continued listing requirements, as the average closing price of our shares of common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average share price for continued listing on the NYSE under Section 802.01C of the NYSE Listed Company Manual. On May 17, 2016, we were notified by the NYSE that our average global market capitalization had been less than $50 million over a consecutive 30 trading-day period at the same time that our stockholders' equity was less than $50 million , which is non-compliant with Section 802.01B of the NYSE Listed Company Manual. At the close of business on June 10, 2016, we effected a 1-for-10 reverse stock split (see Note 1 – Interim Financial Statements ) in order to increase the market price per share of our common stock in order to regain compliance with the NYSE's minimum share price requirement. We were notified on July 1, 2016 that we cured the minimum share price deficiency and that we were no longer considered non-compliant with the $1.00 per share average closing price requirement, although we remain non-compliant with the $50 million market capitalization and stockholders' equity requirements. On June 30, 2016, we submitted our 18-month business plan for curing the average market capitalization and stockholders' equity deficiencies to the NYSE. After our submission of the business plan, the NYSE has 45 calendar days to review the plan to determine whether we have made reasonable demonstration of our ability to come into conformity with the relevant standards within the 18-month period. The NYSE will either accept the plan, at which time we would be subject to ongoing monitoring for compliance with the plan, or not accept the plan, at which time we would be subject to suspension and delisting proceedings. If the NYSE accepts the plan, during the 18-month cure period, our shares of common stock would continue to be listed and traded on the NYSE. As of August 2, 2016 , our market capitalization has been above $50 million for 25 consecutive trading days.

Guarantor Financial Statements

Guarantor Financial Statements	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and December 31, 2015 and for the three and six month periods ended June 30, 2016 and 2015 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 JUNE 30, 2016 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 169,193 $ 1 $ — $ — $ 169,194 Accounts receivable 25,410 31,171 883 (19,188 ) 38,276 Fair value of derivative contracts — 11,887 — — 11,887 Current income tax receivable 46,174 — — — 46,174 Other current assets 12,080 — — — 12,080 Total current assets 252,857 43,059 883 (19,188 ) 277,611 Oil and gas properties, full cost method: Proved 1,907,347 7,565,003 45,895 — 9,518,245 Less: accumulated DD&A (1,907,326 ) (7,007,219 ) (45,895 ) — (8,960,440 ) Net proved oil and gas properties 21 557,784 — — 557,805 Unevaluated 261,971 163,233 — — 425,204 Other property and equipment, net 27,968 — — — 27,968 Other assets, net 27,445 738 — — 28,183 Investment in subsidiary 503,738 — — (503,738 ) — Total assets $ 1,074,000 $ 764,814 $ 883 $ (522,926 ) $ 1,316,771 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 23,153 $ 24,950 $ — $ (19,189 ) $ 28,914 Undistributed oil and gas proceeds 4,379 692 — — 5,071 Accrued interest 9,773 — — — 9,773 Fair value of derivative contracts — 37 — — 37 Asset retirement obligations — 33,695 — — 33,695 Current portion of long-term debt 288,336 — — — 288,336 Other current liabilities 34,513 280 — — 34,793 Total current liabilities 360,154 59,654 — (19,189 ) 400,619 Long-term debt 1,122,901 — — — 1,122,901 Asset retirement obligations 1,355 202,306 — — 203,661 Other long-term liabilities 18,446 — — 18,446 Total liabilities 1,502,856 261,960 — (19,189 ) 1,745,627 Commitments and contingencies Stockholders’ equity: Common stock 56 — — — 56 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,654,731 1,344,577 109,078 (1,453,655 ) 1,654,731 Accumulated deficit (2,090,168 ) (849,108 ) (108,195 ) 957,303 (2,090,168 ) Accumulated other comprehensive income 7,385 7,385 — (7,385 ) 7,385 Total stockholders’ equity (428,856 ) 502,854 883 (503,737 ) (428,856 ) Total liabilities and stockholders’ equity $ 1,074,000 $ 764,814 $ 883 $ (522,926 ) $ 1,316,771 CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2015 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 9,681 $ 2 $ 1,076 $ — $ 10,759 Accounts receivable 10,597 39,190 — (1,756 ) 48,031 Fair value of derivative contracts — 38,576 — — 38,576 Current income tax receivable 46,174 — — — 46,174 Other current assets 6,848 — 33 — 6,881 Total current assets 73,300 77,768 1,109 (1,756 ) 150,421 Oil and gas properties, full cost method: Proved 1,875,152 7,458,262 42,484 — 9,375,898 Less: accumulated DD&A (1,874,622 ) (6,686,849 ) (42,484 ) — (8,603,955 ) Net proved oil and gas properties 530 771,413 — — 771,943 Unevaluated 253,308 186,735 — — 440,043 Other property and equipment, net 29,289 — — — 29,289 Other assets, net 16,612 826 1,035 — 18,473 Investment in subsidiary 745,033 — 1,088 (746,121 ) — Total assets $ 1,118,072 $ 1,036,742 $ 3,232 $ (747,877 ) $ 1,410,169 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 16,063 $ 67,901 $ — $ (1,757 ) $ 82,207 Undistributed oil and gas proceeds 5,216 776 — — 5,992 Accrued interest 9,022 — — — 9,022 Asset retirement obligations — 20,400 891 — 21,291 Other current liabilities 40,161 551 — — 40,712 Total current liabilities 70,462 89,628 891 (1,757 ) 159,224 Long-term debt 1,060,955 — — — 1,060,955 Asset retirement obligations 1,240 203,335 — — 204,575 Other long-term liabilities 25,204 — — — 25,204 Total liabilities 1,157,861 292,963 891 (1,757 ) 1,449,958 Commitments and contingencies Stockholders’ equity: Common stock 55 — — — 55 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,648,687 1,344,577 109,795 (1,454,372 ) 1,648,687 Accumulated deficit (1,705,623 ) (624,824 ) (95,306 ) 720,130 (1,705,623 ) Accumulated other comprehensive income (loss) 17,952 24,026 (12,148 ) (11,878 ) 17,952 Total stockholders’ equity (39,789 ) 743,779 2,341 (746,120 ) (39,789 ) Total liabilities and stockholders’ equity $ 1,118,072 $ 1,036,742 $ 3,232 $ (747,877 ) $ 1,410,169 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2016 (In thousands) Parent Guarantor Non- Eliminations Consolidated Operating revenue: Oil production $ 1,323 $ 71,388 $ — $ — $ 72,711 Natural gas production 3,959 8,594 — — 12,553 Natural gas liquids production 2,375 1,343 — — 3,718 Other operational income 337 — — — 337 Total operating revenue 7,994 81,325 — — 89,319 Operating expenses: Lease operating expenses 3,814 15,012 — — 18,826 Transportation, processing and gathering expenses 6,021 1,162 — — 7,183 Production taxes 383 195 — — 578 Depreciation, depletion and amortization 10,470 35,761 — — 46,231 Write-down of oil and gas properties 6,534 112,114 1 — 118,649 Accretion expense 58 10,024 — — 10,082 Salaries, general and administrative expenses 20,013 1 — — 20,014 Incentive compensation expense 4,670 — — — 4,670 Restructuring fees 9,436 — — — 9,436 Other operational expenses 27,736 (57 ) 1 — 27,680 Derivative expense, net — 626 — — 626 Total operating expenses 89,135 174,838 2 — 263,975 Loss from operations (81,141 ) (93,513 ) (2 ) — (174,656 ) Other (income) expenses: Interest expense 17,599 — — — 17,599 Interest income (302 ) — — — (302 ) Other income (20 ) (250 ) — — (270 ) Other expense 9 — — — 9 Loss from investment in subsidiaries 99,447 — 1 (99,448 ) — Total other (income) expenses 116,733 (250 ) 1 (99,448 ) 17,036 Loss before taxes (197,874 ) (93,263 ) (3 ) 99,448 (191,692 ) Provision (benefit) for income taxes: Current (2,113 ) — — — (2,113 ) Deferred — 6,182 — — 6,182 Total income taxes (2,113 ) 6,182 — — 4,069 Net loss $ (195,761 ) $ (99,445 ) $ (3 ) $ 99,448 $ (195,761 ) Comprehensive loss $ (207,117 ) $ (99,445 ) $ (3 ) $ 99,448 $ (207,117 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2015 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 6,504 $ 105,081 $ — $ — $ 111,585 Natural gas production 15,647 11,260 — — 26,907 Natural gas liquids production 8,077 2,956 — — 11,033 Total operating revenue 30,228 119,297 — — 149,525 Operating expenses: Lease operating expenses 5,111 22,318 — — 27,429 Transportation, processing and gathering expenses 17,974 1,966 — — 19,940 Production taxes 1,436 391 — — 1,827 Depreciation, depletion and amortization 44,052 33,899 — — 77,951 Write-down of oil and gas properties 179,125 — 45,169 — 224,294 Accretion expense 91 6,317 — — 6,408 Salaries, general and administrative expenses 16,398 — 20 — 16,418 Incentive compensation expense 1,264 — — — 1,264 Other operational expenses 1,454 — — — 1,454 Derivative expense, net — 701 — — 701 Total operating expenses 266,905 65,592 45,189 — 377,686 Income (loss) from operations (236,677 ) 53,705 (45,189 ) — (228,161 ) Other (income) expenses: Interest expense 10,472 — — — 10,472 Interest income (46 ) (19 ) (1 ) — (66 ) Other income (187 ) (423 ) (3 ) — (613 ) (Income) loss from investment in subsidiaries (16,147 ) — 28,918 (12,771 ) — Total other (income) expenses (5,908 ) (442 ) 28,914 (12,771 ) 9,793 Income (loss) before taxes (230,769 ) 54,147 (74,103 ) 12,771 (237,954 ) Provision (benefit) for income taxes: Deferred (77,863 ) 9,082 (16,267 ) — (85,048 ) Total income taxes (77,863 ) 9,082 (16,267 ) — (85,048 ) Net income (loss) $ (152,906 ) $ 45,065 $ (57,836 ) $ 12,771 $ (152,906 ) Comprehensive income (loss) $ (183,062 ) $ 45,065 $ (57,836 ) $ 12,771 $ (183,062 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2016 (In thousands) Parent Guarantor Non- Eliminations Consolidated Operating revenue: Oil production $ 1,384 $ 131,602 $ — $ — $ 132,986 Natural gas production 6,426 21,300 — — 27,726 Natural gas liquids production 3,509 4,944 — — 8,453 Other operational income 693 — — — 693 Total operating revenue 12,012 157,846 — — 169,858 Operating expenses: Lease operating expenses 6,542 31,818 13 — 38,373 Transportation, processing and gathering expenses 7,567 457 — — 8,024 Production taxes 642 417 — — 1,059 Depreciation, depletion and amortization 19,064 88,725 — — 107,789 Write-down of oil and gas properties 15,858 231,645 350 — 247,853 Accretion expense 116 19,949 — — 20,065 Salaries, general and administrative expenses 32,967 (199 ) — — 32,768 Incentive compensation expense 9,649 — — — 9,649 Restructuring fees 10,389 — — — 10,389 Other operational expenses 33,845 280 6,082 — 40,207 Derivative expense, net — 488 — — 488 Total operating expenses 136,639 373,580 6,445 — 516,664 Loss from operations (124,627 ) (215,734 ) (6,445 ) — (346,806 ) Other (income) expenses: Interest expense 32,840 — — — 32,840 Interest income (416 ) — — — (416 ) Other income (59 ) (509 ) — — (568 ) Other expense 11 — — — 11 Loss from investment in subsidiaries 230,729 — 6,444 (237,173 ) — Total other (income) expenses 263,105 (509 ) 6,444 (237,173 ) 31,867 Loss before taxes (387,732 ) (215,225 ) (12,889 ) 237,173 (378,673 ) Provision (benefit) for income taxes: Current (3,187 ) — — — (3,187 ) Deferred — 9,059 — — 9,059 Total income taxes (3,187 ) 9,059 — — 5,872 Net loss $ (384,545 ) $ (224,284 ) $ (12,889 ) $ 237,173 $ (384,545 ) Comprehensive loss $ (395,112 ) $ (224,284 ) $ (12,889 ) $ 237,173 $ (395,112 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2015 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 10,854 $ 208,238 $ — $ — $ 219,092 Natural gas production 32,264 22,980 — — 55,244 Natural gas liquids production 17,956 5,443 — — 23,399 Other operational income 1,792 — — — 1,792 Derivative income, net — 2,427 — — 2,427 Total operating revenue 62,866 239,088 — — 301,954 Operating expenses: Lease operating expenses 10,087 44,919 — — 55,006 Transportation, processing and gathering expenses 34,082 3,561 — — 37,643 Production taxes 3,634 708 — — 4,342 Depreciation, depletion and amortization 86,164 78,209 — — 164,373 Write-down of oil and gas properties 670,537 — 45,169 — 715,706 Accretion expense 182 12,635 — — 12,817 Salaries, general and administrative expenses 33,399 1 25 — 33,425 Incentive compensation expense 2,827 — — — 2,827 Other operational expenses 1,170 — — — 1,170 Total operating expenses 842,082 140,033 45,194 — 1,027,309 Income (loss) from operations (779,216 ) 99,055 (45,194 ) — (725,355 ) Other (income) expenses: Interest expense 20,816 21 — — 20,837 Interest income (147 ) (35 ) (6 ) — (188 ) Other income (320 ) (433 ) (3 ) — (756 ) (Income) loss from investment in subsidiaries (45,174 ) — 28,918 16,256 — Total other (income) expenses (24,825 ) (447 ) 28,909 16,256 19,893 Income (loss) before taxes (754,391 ) 99,502 (74,103 ) (16,256 ) (745,248 ) Provision (benefit) for income taxes: Deferred (274,097 ) 25,410 (16,267 ) — (264,954 ) Total income taxes (274,097 ) 25,410 (16,267 ) — (264,954 ) Net income (loss) $ (480,294 ) $ 74,092 $ (57,836 ) $ (16,256 ) $ (480,294 ) Comprehensive income (loss) $ (522,953 ) $ 74,092 $ (57,836 ) $ (16,256 ) $ (522,953 ) CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2016 (In thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net loss $ (384,545 ) $ (224,284 ) $ (12,889 ) $ 237,173 $ (384,545 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation, depletion and amortization 19,064 88,725 — — 107,789 Write-down of oil and gas properties 15,858 231,645 350 — 247,853 Accretion expense 116 19,949 — — 20,065 Deferred income tax provision — 9,059 — — 9,059 Settlement of asset retirement obligations — (9,807 ) (899 ) — (10,706 ) Non-cash stock compensation expense 4,682 — — — 4,682 Non-cash derivative expense — 1,025 — — 1,025 Non-cash interest expense 9,403 — — — 9,403 Other non-cash expense — — 6,081 — 6,081 Change in current income taxes (3,187 ) — — — (3,187 ) Non-cash loss from investment in subsidiaries 230,729 — 6,444 (237,173 ) — Change in intercompany receivables/payables (1,658 ) 1,658 — — — (Increase) decrease in accounts receivable (8,471 ) 19,109 (883 ) — 9,755 (Increase) decrease in other current assets (5,316 ) — 33 — (5,283 ) Increase (decrease) in accounts payable 2,226 (2,547 ) — — (321 ) Decrease in other current liabilities (5,565 ) (355 ) — — (5,920 ) Other (7,372 ) (508 ) — — (7,880 ) Net cash (used in) provided by operating activities (134,036 ) 133,669 (1,763 ) — (2,130 ) Cash flows from investing activities: Investment in oil and gas properties (45,292 ) (133,670 ) (349 ) — (179,311 ) Investment in fixed and other assets (898 ) — — — (898 ) Change in restricted funds — — 1,045 — 1,045 Investment in subsidiaries — — 717 (717 ) — Net cash (used in) provided by investing activities (46,190 ) (133,670 ) 1,413 (717 ) (179,164 ) Cash flows from financing activities: Proceeds from bank borrowings 477,000 — — — 477,000 Repayments of bank borrowings (135,500 ) — — — (135,500 ) Repayments of building loan (189 ) — — — (189 ) Deferred financing costs (900 ) — — — (900 ) Equity proceeds from parent — — (717 ) 717 — Net payments for share-based compensation (673 ) — — — (673 ) Net cash provided by (used in) financing activities 339,738 — (717 ) 717 339,738 Effect of exchange rate changes on cash — — (9 ) — (9 ) Net change in cash and cash equivalents 159,512 (1 ) (1,076 ) — 158,435 Cash and cash equivalents, beginning of period 9,681 2 1,076 — 10,759 Cash and cash equivalents, end of period $ 169,193 $ 1 $ — $ — $ 169,194 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2015 (In thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (480,294 ) $ 74,092 $ (57,836 ) $ (16,256 ) $ (480,294 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation, depletion and amortization 86,164 78,209 — — 164,373 Write-down of oil and gas properties 670,537 — 45,169 — 715,706 Accretion expense 182 12,635 — — 12,817 Deferred income tax (benefit) provision (274,097 ) 25,410 (16,267 ) — (264,954 ) Settlement of asset retirement obligations (14 ) (35,909 ) — — (35,923 ) Non-cash stock compensation expense 6,028 — — — 6,028 Non-cash derivative expense — 7,931 — — 7,931 Non-cash interest expense 8,737 — — — 8,737 Change in current income taxes 7,206 — — — 7,206 Non-cash (income) expense from investment in subsidiaries (45,174 ) — 28,918 16,256 — Change in intercompany receivables/payables 15,070 (24,802 ) 9,732 — — Decrease in accounts receivable 16,968 6,079 — — 23,047 Increase in other current assets (1,895 ) — (64 ) — (1,959 ) (Increase) decrease in inventory (2,415 ) 2,415 — — — Decrease in accounts payable (500 ) (7,326 ) — — (7,826 ) Decrease in other current liabilities (8,409 ) (311 ) — — (8,720 ) Other (71 ) (433 ) — — (504 ) Net cash (used in) provided by operating activities (1,977 ) 137,990 9,652 — 145,665 Cash flows from investing activities: Investment in oil and gas properties (128,333 ) (124,506 ) (11,516 ) — (264,355 ) Proceeds from sale of oil and gas properties, net of expenses — 10,100 — — 10,100 Investment in fixed and other assets (727 ) — — — (727 ) Change in restricted funds 177,647 — 1,828 — 179,475 Investment in subsidiaries — — (9,684 ) 9,684 — Net cash provided by (used in) investing activities 48,587 (114,406 ) (19,372 ) 9,684 (75,507 ) 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 — — 9,684 (9,684 ) — Net payments for share-based compensation (3,069 ) — — — (3,069 ) Net cash (used in) provided by financing activities (3,069 ) — 9,684 (9,684 ) (3,069 ) Effect of exchange rate changes on cash — — 78 — 78 Net change in cash and cash equivalents 43,541 23,584 42 — 67,167 Cash and cash equivalents, beginning of period 72,886 1,450 152 — 74,488 Cash and cash equivalents, end of period $ 116,427 $ 25,034 $ 194 $ — $ 141,655

Earnings Per Share (Policies)

Earnings Per Share (Policies)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earning Per Share	For the three and six months ended June 30, 2016 and 2015 , the 2017 Convertible Notes had no dilutive effect on the diluted earnings per share computation as we had net losses for such periods. For the three and six months ended June 30, 2016 and 2015 , the average price of our common stock was less than the strike price of the Sold Warrants (as defined in Note 5 – Debt ) and therefore, such warrants were not dilutive for such periods. Based on the terms of the Purchased Call Options (as defined in Note 5 – 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)	6 Months Ended
	Jun. 30, 2016
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 Six Months Ended 2016 2015 2016 2015 (In thousands, except per share data) Income (numerator): Basic: Net loss $ (195,761 ) $ (152,906 ) $ (384,545 ) $ (480,294 ) Net income attributable to participating securities — — — — Net loss attributable to common stock - basic $ (195,761 ) $ (152,906 ) $ (384,545 ) $ (480,294 ) Diluted: Net loss $ (195,761 ) $ (152,906 ) $ (384,545 ) $ (480,294 ) Net income attributable to participating securities — — — — Net loss attributable to common stock - diluted $ (195,761 ) $ (152,906 ) $ (384,545 ) $ (480,294 ) Weighted average shares (denominator): Weighted average shares - basic 5,585 5,525 5,578 5,521 Dilutive effect of stock options — — — — Dilutive effect of convertible notes — — — — Weighted average shares - diluted 5,585 5,525 5,578 5,521 Basic loss per share $ (35.05 ) $ (27.68 ) $ (68.94 ) $ (86.99 ) Diluted loss per share $ (35.05 ) $ (27.68 ) $ (68.94 ) $ (86.99 )

Derivative Instruments and He25

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Positions	The following tables illustrate our derivative positions for calendar year 2016 as of August 2, 2016 : Fixed-Price Swaps (NYMEX) Natural Gas Oil Daily Volume (MMBtus/d) Swap Price ($) Daily Volume (Bbls/d) Swap Price ($) 2016 10,000 4.110 1,000 49.75 2016 10,000 4.120 1,000 52.78 2016 1,000 90.00 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 June 30, 2016 and December 31, 2015 . We had an immaterial collar contract qualifying as a hedging instrument, with a fair value of approximately $37,000 , classified as a current liability in our balance sheet at June 30, 2016. Fair Value of Derivatives Qualifying as Hedging Instruments at June 30, 2016 (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 $ 11.9 Current liabilities: Fair value of derivative contracts $ — Long-term assets: Fair value of derivative contracts — Long-term liabilities: Fair value of derivative contracts — $ 11.9 $ — Fair Value of Derivatives Qualifying as Hedging Instruments at December 31, 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 $ 38.6 Current liabilities: Fair value of derivative contracts $ — Long-term assets: Fair value of derivative contracts — Long-term liabilities: Fair value of derivative contracts — $ 38.6 $ —
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 six month periods ended June 30, 2016 and 2015 . Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Three Months Ended June 30, 2016 and 2015 (In millions) Derivatives in Amount of Gain Gain (Loss) Reclassified from Gain (Loss) Recognized in Income 2016 2015 Location 2016 2015 Location 2016 2015 Commodity contracts $ (8.6 ) $ (18.8 ) Operating revenue - oil/natural gas production $ 8.9 $ 30.4 Derivative income (expense), net $ (0.6 ) $ (0.4 ) Total $ (8.6 ) $ (18.8 ) $ 8.9 $ 30.4 $ (0.6 ) $ (0.4 ) (a) For the three months ended June 30, 2016 , effective hedging contracts increased oil revenue by $5.1 million and increased natural gas revenue by $3.8 million . For the three months ended June 30, 2015 , effective hedging contracts increased oil revenue by $26.4 million and increased natural gas revenue by $4.0 million . Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Six Months Ended June 30, 2016 and 2015 (In millions) Derivatives in Amount of Gain Gain (Loss) Reclassified from Gain (Loss) Recognized in Income 2016 2015 Location 2016 2015 Location 2016 2015 Commodity contracts $ (4.0 ) $ 4.1 Operating revenue - $ 21.7 $ 67.2 Derivative income $ (0.5 ) $ 0.5 Total $ (4.0 ) $ 4.1 $ 21.7 $ 67.2 $ (0.5 ) $ 0.5 (a) For the six months ended June 30, 2016 , effective hedging contracts increased oil revenue by $14.4 million and increased natural gas revenue by $7.3 million . For the six months ended June 30, 2015 , effective hedging contracts increased oil revenue by $60.4 million and increased natural gas revenue by $6.8 million .
Gains or Losses Related to Changes in Fair Value and Cash Settlements on Derivatives Not Qualifying as Hedging Instruments	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 six month periods ended June 30, 2016 and 2015 . Gain (Loss) Recognized in Derivative Income (Expense) (In millions) Three Months Ended Six Months Ended Description 2016 2015 2016 2015 Commodity contracts: Cash settlements $ — $ 4.1 $ — $ 7.2 Change in fair value — (4.4 ) — (5.3 ) Total gains (losses) on non-qualifying hedges $ — $ (0.3 ) $ — $ 1.9

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Our debt balances (net of related unamortized discounts and debt issuance costs) as of June 30, 2016 and December 31, 2015 were as follows: June 30, December 31, (In millions) 1 3 ⁄ 4 % Senior Convertible Notes due 2017 $ 287.9 $ 279.3 7 1 ⁄ 2 % Senior Notes due 2022 770.3 770.0 Revolving credit facility 341.5 — 4.20% Building Loan 11.5 11.7 Total debt 1,411.2 1,061.0 Less: current portion of long-term debt (288.3 ) — Long-term debt $ 1,122.9 $ 1,061.0

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Changes in Asset Retirement Obligations	The change in our asset retirement obligations during the six months ended June 30, 2016 is set forth below: Six Months Ended (In millions) Asset retirement obligations as of the beginning of the period, including current portion $ 225.9 Liabilities incurred 2.1 Liabilities settled (10.7 ) Accretion expense 20.1 Asset retirement obligations as of the end of the period, including current portion $ 237.4

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value Recurring Basis	The following tables present our assets that are measured at fair value on a recurring basis at June 30, 2016 and December 31, 2015. Fair Value Measurements at June 30, 2016 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) $ 8.6 $ 8.6 $ — $ — Derivative contracts 11.9 — 11.9 — Total $ 20.5 $ 8.6 $ 11.9 $ — Fair Value Measurements at December 31, 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) $ 8.5 $ 8.5 $ — $ — Derivative contracts 38.6 — 36.6 2.0 Total $ 47.1 $ 8.5 $ 36.6 $ 2.0
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The table below presents a reconciliation for assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2016 . Hedging Contracts, net (In millions) Balance as of January 1, 2016 $ 2.0 Total gains/(losses) (realized or unrealized): Included in earnings 1.1 Included in other comprehensive income (1.9 ) Purchases, sales, issuances and settlements (1.2 ) Transfers in and out of Level 3 — Balance as of June 30, 2016 $ — The amount of total gains/(losses) for the period included in earnings (derivative income) attributable to the change in unrealized gain/(losses) relating to derivatives still held at June 30, 2016 $ —

Accumulated Other Comprehensi29

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income Loss	Changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2016 , were as follows (in millions): Cash Flow Hedges Foreign Currency Items Total Three Months Ended June 30, 2016 Beginning balance, net of tax $ 18.7 $ — $ 18.7 Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives (8.6 ) — (8.6 ) Income tax effect 3.1 — 3.1 Net of tax (5.5 ) — (5.5 ) Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 8.9 — 8.9 Income tax effect (3.1 ) — (3.1 ) Net of tax 5.8 — 5.8 Other comprehensive loss, net of tax (11.3 ) — (11.3 ) Ending balance, net of tax $ 7.4 $ — $ 7.4 Cash Flow Hedges Foreign Currency Items Total Six Months Ended June 30, 2016 Beginning balance, net of tax $ 24.0 $ (6.0 ) $ 18.0 Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives (4.0 ) — (4.0 ) Income tax effect 1.4 — 1.4 Net of tax (2.6 ) — (2.6 ) Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 21.7 — 21.7 Other operational expenses — (6.0 ) (6.0 ) Income tax effect (7.7 ) — (7.7 ) Net of tax 14.0 (6.0 ) 8.0 Other comprehensive income (loss), net of tax (16.6 ) 6.0 (10.6 ) Ending balance, net of tax $ 7.4 $ — $ 7.4 Changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2015 , were as follows (in millions): Cash Flow Hedges Foreign Currency Items Total Three Months Ended June 30, 2015 Beginning balance, net of tax $ 77.9 $ (7.1 ) $ 70.8 Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives (18.8 ) — (18.8 ) Foreign currency translations — 1.3 1.3 Income tax effect 6.9 — 6.9 Net of tax (11.9 ) 1.3 (10.6 ) Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 30.4 — 30.4 Income tax effect (10.9 ) — (10.9 ) Net of tax 19.5 — 19.5 Other comprehensive income (loss), net of tax (31.4 ) 1.3 (30.1 ) Ending balance, net of tax $ 46.5 $ (5.8 ) $ 40.7 Cash Flow Foreign Total Six Months Ended June 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 4.1 — 4.1 Foreign currency translations — (2.3 ) (2.3 ) Income tax effect (1.3 ) — (1.3 ) Net of tax 2.8 (2.3 ) 0.5 Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/natural gas production 67.2 — 67.2 Income tax effect (24.1 ) — (24.1 ) Net of tax 43.1 — 43.1 Other comprehensive loss, net of tax (40.3 ) (2.3 ) (42.6 ) Ending balance, net of tax $ 46.5 $ (5.8 ) $ 40.7

Guarantor Financial Statements

Guarantor Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET JUNE 30, 2016 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 169,193 $ 1 $ — $ — $ 169,194 Accounts receivable 25,410 31,171 883 (19,188 ) 38,276 Fair value of derivative contracts — 11,887 — — 11,887 Current income tax receivable 46,174 — — — 46,174 Other current assets 12,080 — — — 12,080 Total current assets 252,857 43,059 883 (19,188 ) 277,611 Oil and gas properties, full cost method: Proved 1,907,347 7,565,003 45,895 — 9,518,245 Less: accumulated DD&A (1,907,326 ) (7,007,219 ) (45,895 ) — (8,960,440 ) Net proved oil and gas properties 21 557,784 — — 557,805 Unevaluated 261,971 163,233 — — 425,204 Other property and equipment, net 27,968 — — — 27,968 Other assets, net 27,445 738 — — 28,183 Investment in subsidiary 503,738 — — (503,738 ) — Total assets $ 1,074,000 $ 764,814 $ 883 $ (522,926 ) $ 1,316,771 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 23,153 $ 24,950 $ — $ (19,189 ) $ 28,914 Undistributed oil and gas proceeds 4,379 692 — — 5,071 Accrued interest 9,773 — — — 9,773 Fair value of derivative contracts — 37 — — 37 Asset retirement obligations — 33,695 — — 33,695 Current portion of long-term debt 288,336 — — — 288,336 Other current liabilities 34,513 280 — — 34,793 Total current liabilities 360,154 59,654 — (19,189 ) 400,619 Long-term debt 1,122,901 — — — 1,122,901 Asset retirement obligations 1,355 202,306 — — 203,661 Other long-term liabilities 18,446 — — 18,446 Total liabilities 1,502,856 261,960 — (19,189 ) 1,745,627 Commitments and contingencies Stockholders’ equity: Common stock 56 — — — 56 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,654,731 1,344,577 109,078 (1,453,655 ) 1,654,731 Accumulated deficit (2,090,168 ) (849,108 ) (108,195 ) 957,303 (2,090,168 ) Accumulated other comprehensive income 7,385 7,385 — (7,385 ) 7,385 Total stockholders’ equity (428,856 ) 502,854 883 (503,737 ) (428,856 ) Total liabilities and stockholders’ equity $ 1,074,000 $ 764,814 $ 883 $ (522,926 ) $ 1,316,771 CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2015 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 9,681 $ 2 $ 1,076 $ — $ 10,759 Accounts receivable 10,597 39,190 — (1,756 ) 48,031 Fair value of derivative contracts — 38,576 — — 38,576 Current income tax receivable 46,174 — — — 46,174 Other current assets 6,848 — 33 — 6,881 Total current assets 73,300 77,768 1,109 (1,756 ) 150,421 Oil and gas properties, full cost method: Proved 1,875,152 7,458,262 42,484 — 9,375,898 Less: accumulated DD&A (1,874,622 ) (6,686,849 ) (42,484 ) — (8,603,955 ) Net proved oil and gas properties 530 771,413 — — 771,943 Unevaluated 253,308 186,735 — — 440,043 Other property and equipment, net 29,289 — — — 29,289 Other assets, net 16,612 826 1,035 — 18,473 Investment in subsidiary 745,033 — 1,088 (746,121 ) — Total assets $ 1,118,072 $ 1,036,742 $ 3,232 $ (747,877 ) $ 1,410,169 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 16,063 $ 67,901 $ — $ (1,757 ) $ 82,207 Undistributed oil and gas proceeds 5,216 776 — — 5,992 Accrued interest 9,022 — — — 9,022 Asset retirement obligations — 20,400 891 — 21,291 Other current liabilities 40,161 551 — — 40,712 Total current liabilities 70,462 89,628 891 (1,757 ) 159,224 Long-term debt 1,060,955 — — — 1,060,955 Asset retirement obligations 1,240 203,335 — — 204,575 Other long-term liabilities 25,204 — — — 25,204 Total liabilities 1,157,861 292,963 891 (1,757 ) 1,449,958 Commitments and contingencies Stockholders’ equity: Common stock 55 — — — 55 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,648,687 1,344,577 109,795 (1,454,372 ) 1,648,687 Accumulated deficit (1,705,623 ) (624,824 ) (95,306 ) 720,130 (1,705,623 ) Accumulated other comprehensive income (loss) 17,952 24,026 (12,148 ) (11,878 ) 17,952 Total stockholders’ equity (39,789 ) 743,779 2,341 (746,120 ) (39,789 ) Total liabilities and stockholders’ equity $ 1,118,072 $ 1,036,742 $ 3,232 $ (747,877 ) $ 1,410,169
Condensed Consolidating Statement of Operations	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2016 (In thousands) Parent Guarantor Non- Eliminations Consolidated Operating revenue: Oil production $ 1,323 $ 71,388 $ — $ — $ 72,711 Natural gas production 3,959 8,594 — — 12,553 Natural gas liquids production 2,375 1,343 — — 3,718 Other operational income 337 — — — 337 Total operating revenue 7,994 81,325 — — 89,319 Operating expenses: Lease operating expenses 3,814 15,012 — — 18,826 Transportation, processing and gathering expenses 6,021 1,162 — — 7,183 Production taxes 383 195 — — 578 Depreciation, depletion and amortization 10,470 35,761 — — 46,231 Write-down of oil and gas properties 6,534 112,114 1 — 118,649 Accretion expense 58 10,024 — — 10,082 Salaries, general and administrative expenses 20,013 1 — — 20,014 Incentive compensation expense 4,670 — — — 4,670 Restructuring fees 9,436 — — — 9,436 Other operational expenses 27,736 (57 ) 1 — 27,680 Derivative expense, net — 626 — — 626 Total operating expenses 89,135 174,838 2 — 263,975 Loss from operations (81,141 ) (93,513 ) (2 ) — (174,656 ) Other (income) expenses: Interest expense 17,599 — — — 17,599 Interest income (302 ) — — — (302 ) Other income (20 ) (250 ) — — (270 ) Other expense 9 — — — 9 Loss from investment in subsidiaries 99,447 — 1 (99,448 ) — Total other (income) expenses 116,733 (250 ) 1 (99,448 ) 17,036 Loss before taxes (197,874 ) (93,263 ) (3 ) 99,448 (191,692 ) Provision (benefit) for income taxes: Current (2,113 ) — — — (2,113 ) Deferred — 6,182 — — 6,182 Total income taxes (2,113 ) 6,182 — — 4,069 Net loss $ (195,761 ) $ (99,445 ) $ (3 ) $ 99,448 $ (195,761 ) Comprehensive loss $ (207,117 ) $ (99,445 ) $ (3 ) $ 99,448 $ (207,117 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2015 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 6,504 $ 105,081 $ — $ — $ 111,585 Natural gas production 15,647 11,260 — — 26,907 Natural gas liquids production 8,077 2,956 — — 11,033 Total operating revenue 30,228 119,297 — — 149,525 Operating expenses: Lease operating expenses 5,111 22,318 — — 27,429 Transportation, processing and gathering expenses 17,974 1,966 — — 19,940 Production taxes 1,436 391 — — 1,827 Depreciation, depletion and amortization 44,052 33,899 — — 77,951 Write-down of oil and gas properties 179,125 — 45,169 — 224,294 Accretion expense 91 6,317 — — 6,408 Salaries, general and administrative expenses 16,398 — 20 — 16,418 Incentive compensation expense 1,264 — — — 1,264 Other operational expenses 1,454 — — — 1,454 Derivative expense, net — 701 — — 701 Total operating expenses 266,905 65,592 45,189 — 377,686 Income (loss) from operations (236,677 ) 53,705 (45,189 ) — (228,161 ) Other (income) expenses: Interest expense 10,472 — — — 10,472 Interest income (46 ) (19 ) (1 ) — (66 ) Other income (187 ) (423 ) (3 ) — (613 ) (Income) loss from investment in subsidiaries (16,147 ) — 28,918 (12,771 ) — Total other (income) expenses (5,908 ) (442 ) 28,914 (12,771 ) 9,793 Income (loss) before taxes (230,769 ) 54,147 (74,103 ) 12,771 (237,954 ) Provision (benefit) for income taxes: Deferred (77,863 ) 9,082 (16,267 ) — (85,048 ) Total income taxes (77,863 ) 9,082 (16,267 ) — (85,048 ) Net income (loss) $ (152,906 ) $ 45,065 $ (57,836 ) $ 12,771 $ (152,906 ) Comprehensive income (loss) $ (183,062 ) $ 45,065 $ (57,836 ) $ 12,771 $ (183,062 )
Condensed Consolidating Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2016 (In thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net loss $ (384,545 ) $ (224,284 ) $ (12,889 ) $ 237,173 $ (384,545 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation, depletion and amortization 19,064 88,725 — — 107,789 Write-down of oil and gas properties 15,858 231,645 350 — 247,853 Accretion expense 116 19,949 — — 20,065 Deferred income tax provision — 9,059 — — 9,059 Settlement of asset retirement obligations — (9,807 ) (899 ) — (10,706 ) Non-cash stock compensation expense 4,682 — — — 4,682 Non-cash derivative expense — 1,025 — — 1,025 Non-cash interest expense 9,403 — — — 9,403 Other non-cash expense — — 6,081 — 6,081 Change in current income taxes (3,187 ) — — — (3,187 ) Non-cash loss from investment in subsidiaries 230,729 — 6,444 (237,173 ) — Change in intercompany receivables/payables (1,658 ) 1,658 — — — (Increase) decrease in accounts receivable (8,471 ) 19,109 (883 ) — 9,755 (Increase) decrease in other current assets (5,316 ) — 33 — (5,283 ) Increase (decrease) in accounts payable 2,226 (2,547 ) — — (321 ) Decrease in other current liabilities (5,565 ) (355 ) — — (5,920 ) Other (7,372 ) (508 ) — — (7,880 ) Net cash (used in) provided by operating activities (134,036 ) 133,669 (1,763 ) — (2,130 ) Cash flows from investing activities: Investment in oil and gas properties (45,292 ) (133,670 ) (349 ) — (179,311 ) Investment in fixed and other assets (898 ) — — — (898 ) Change in restricted funds — — 1,045 — 1,045 Investment in subsidiaries — — 717 (717 ) — Net cash (used in) provided by investing activities (46,190 ) (133,670 ) 1,413 (717 ) (179,164 ) Cash flows from financing activities: Proceeds from bank borrowings 477,000 — — — 477,000 Repayments of bank borrowings (135,500 ) — — — (135,500 ) Repayments of building loan (189 ) — — — (189 ) Deferred financing costs (900 ) — — — (900 ) Equity proceeds from parent — — (717 ) 717 — Net payments for share-based compensation (673 ) — — — (673 ) Net cash provided by (used in) financing activities 339,738 — (717 ) 717 339,738 Effect of exchange rate changes on cash — — (9 ) — (9 ) Net change in cash and cash equivalents 159,512 (1 ) (1,076 ) — 158,435 Cash and cash equivalents, beginning of period 9,681 2 1,076 — 10,759 Cash and cash equivalents, end of period $ 169,193 $ 1 $ — $ — $ 169,194 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2015 (In thousands) Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (480,294 ) $ 74,092 $ (57,836 ) $ (16,256 ) $ (480,294 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation, depletion and amortization 86,164 78,209 — — 164,373 Write-down of oil and gas properties 670,537 — 45,169 — 715,706 Accretion expense 182 12,635 — — 12,817 Deferred income tax (benefit) provision (274,097 ) 25,410 (16,267 ) — (264,954 ) Settlement of asset retirement obligations (14 ) (35,909 ) — — (35,923 ) Non-cash stock compensation expense 6,028 — — — 6,028 Non-cash derivative expense — 7,931 — — 7,931 Non-cash interest expense 8,737 — — — 8,737 Change in current income taxes 7,206 — — — 7,206 Non-cash (income) expense from investment in subsidiaries (45,174 ) — 28,918 16,256 — Change in intercompany receivables/payables 15,070 (24,802 ) 9,732 — — Decrease in accounts receivable 16,968 6,079 — — 23,047 Increase in other current assets (1,895 ) — (64 ) — (1,959 ) (Increase) decrease in inventory (2,415 ) 2,415 — — — Decrease in accounts payable (500 ) (7,326 ) — — (7,826 ) Decrease in other current liabilities (8,409 ) (311 ) — — (8,720 ) Other (71 ) (433 ) — — (504 ) Net cash (used in) provided by operating activities (1,977 ) 137,990 9,652 — 145,665 Cash flows from investing activities: Investment in oil and gas properties (128,333 ) (124,506 ) (11,516 ) — (264,355 ) Proceeds from sale of oil and gas properties, net of expenses — 10,100 — — 10,100 Investment in fixed and other assets (727 ) — — — (727 ) Change in restricted funds 177,647 — 1,828 — 179,475 Investment in subsidiaries — — (9,684 ) 9,684 — Net cash provided by (used in) investing activities 48,587 (114,406 ) (19,372 ) 9,684 (75,507 ) 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 — — 9,684 (9,684 ) — Net payments for share-based compensation (3,069 ) — — — (3,069 ) Net cash (used in) provided by financing activities (3,069 ) — 9,684 (9,684 ) (3,069 ) Effect of exchange rate changes on cash — — 78 — 78 Net change in cash and cash equivalents 43,541 23,584 42 — 67,167 Cash and cash equivalents, beginning of period 72,886 1,450 152 — 74,488 Cash and cash equivalents, end of period $ 116,427 $ 25,034 $ 194 $ — $ 141,655

Interim Financial Statements (D

Interim Financial Statements (Details)	May 27, 2016	Jun. 30, 2016$ / shares	Dec. 31, 2015$ / shares
Accounting Policies [Abstract]
Stock split, conversion ratio	0.1
Common stock, par value (in usd per share)		$ 0.01	$ 0.01

Going Concern (Details)

Going Concern (Details)	Jun. 14, 2016USD ($)	Jun. 13, 2016USD ($)	May 13, 2016USD ($)	Jun. 30, 2016USD ($)	Apr. 13, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Long-term debt, gross				$ 1,428,000,000
Consolidated funded debt to consolidated EBITDA ratio				3.75
Fair value of amount outstanding				$ 341,500,000	$ 457,000,000
Current portion of long-term debt				288,336,000			$ 0
Repayments of Lines of Credit	$ 56,800,000
Long-term debt				$ 1,411,200,000			$ 1,061,000,000
Convertible Debt | 1.75% Senior Notes due 2017
Debt Instrument [Line Items]
Interest rate				1.75%			1.75%
Revolving credit facility
Debt Instrument [Line Items]
Line of Credit Facility, Minimum Liquidity Requirement	125,000,000
Line of Credit Facility, Amount of Cash to Which Anti-Hoarding Cash Provisions Apply	50,000,000
Borrowing base	$ 360,000,000				300,000,000	$ 500,000,000
Outstanding borrowing under bank credit facility				$ 18,300,000	18,300,000
Current portion of long-term debt					$ 175,300,000
Repayments of Lines of Credit		$ 29,200,000	$ 29,200,000
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
Long-term debt				$ 341,500,000			$ 0
Senior Notes | 7 1⁄2% Senior Notes due 2022
Debt Instrument [Line Items]
Interest rate				7.50%			7.50%
4.20% Building Loan
Debt Instrument [Line Items]
Current portion of long-term debt				$ 400,000
Long-term debt				$ 11,500,000			$ 11,700,000
Interest rate				4.20%			4.20%
Quarter ended June 30, 2016
Debt Instrument [Line Items]
Consolidated funded debt to consolidated EBITDA ratio	5.25
Quarter ending September 30, 2016
Debt Instrument [Line Items]
Consolidated funded debt to consolidated EBITDA ratio	6.50
Quarter ending December 31, 2016
Debt Instrument [Line Items]
Consolidated funded debt to consolidated EBITDA ratio	9.50
Thereafter
Debt Instrument [Line Items]
Consolidated funded debt to consolidated EBITDA ratio	3.75

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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Basic:
Net loss	$ (195,761)	$ (152,906)	$ (384,545)	$ (480,294)
Net income attributable to participating securities	0	0	0	0
Net loss attributable to common stock - basic	(195,761)	(152,906)	(384,545)	(480,294)
Diluted:
Net loss	(195,761)	(152,906)	(384,545)	(480,294)
Net income attributable to participating securities	0	0	0	0
Net loss attributable to common stock - diluted	$ (195,761)	$ (152,906)	$ (384,545)	$ (480,294)
Weighted average shares (denominator):
Weighted average shares - basic (in shares)	5,585	5,525	5,578	5,521
Dilutive effect of stock options (in shares)	0	0	0	0
Dilutive effect of convertible notes (in shares)	0	0	0	0
Weighted average shares - diluted (in shares)	5,585	5,525	5,578	5,521
Basic loss per share (usd per share)	$ (35.05)	$ (27.68)	$ (68.94)	$ (86.99)
Diluted loss per share (usd per share)	$ (35.05)	$ (27.68)	$ (68.94)	$ (86.99)

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Antidilutive stock options outstanding (in shares)	12,900	17,400	12,900	17,400
Shares of common stock issued upon vesting of restricted stock (in shares)	12,100	2,900	62,200	39,900

Derivative Instruments and He35

Derivative Instruments and Hedging Activities - Hedging Positions (Detail) - Subsequent Event - Designated as Hedging Instrument	Aug. 02, 2016bbl$ / MMBTU$ / bblMBbls
Fixed Price Swaps | 2016 Hedging Position One | Oil
Derivatives, Fair Value [Line Items]
Swap Price ($) | $ / bbl	49.75
Daily Volume (Bbls/d) | bbl	1,000
Fixed Price Swaps | 2016 Hedging Position One | Natural Gas
Derivatives, Fair Value [Line Items]
Daily Volume (MMBtus/d) | MBbls	10,000
Swap Price ($)	4.110
Fixed Price Swaps | 2016 Hedging Position Two | Oil
Derivatives, Fair Value [Line Items]
Swap Price ($) | $ / bbl	52.78
Daily Volume (Bbls/d) | bbl	1,000
Fixed Price Swaps | 2016 Hedging Position Two | Natural Gas
Derivatives, Fair Value [Line Items]
Daily Volume (MMBtus/d) | MBbls	10,000
Swap Price ($)	4.120
Fixed Price Swaps | 2016 Hedging Position Three | Oil
Derivatives, Fair Value [Line Items]
Swap Price ($) | $ / bbl	90
Daily Volume (Bbls/d) | bbl	1,000
Fixed Price Swaps | 2016 Hedging Position Three | Natural Gas
Derivatives, Fair Value [Line Items]
Daily Volume (MMBtus/d) | MBbls
Swap Price ($)
Costless Collar | 2016 Hedging Position Four | Oil
Derivatives, Fair Value [Line Items]
Daily Volume (MMBtus/d) | bbl	1,000
Floor Price ($)	45
Ceiling Price ($)	54.75

Derivative Instruments and He36

Derivative Instruments and Hedging Activities - Additional Information (Detail) $ in Thousands	Aug. 02, 2016counterparty	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)
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)		$ 7,385	$ 18,700	$ 17,952	$ 40,700	$ 70,800	$ 83,300
Accumulated other comprehensive income, to be reclassified into earnings in the next twelve months		7,400
Fair value of derivative contracts		37		0
Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated other comprehensive income (loss)		$ 7,400	$ 18,700	$ 24,000	$ 46,500	$ 77,900	$ 86,800
Subsequent Event
Derivative Instruments, Gain (Loss) [Line Items]
Percentage of counterparty contract volume	86.00%
Subsequent Event | Fixed-Price Swaps And Costless Collars
Derivative Instruments, Gain (Loss) [Line Items]
Number of counterparties | counterparty	2

Derivative Instruments and He37

Derivative Instruments and Hedging Activities - Location and Fair Value Amounts of Derivative Instruments Reported in Balance Sheet (Detail) - Designated as Hedging Instrument - Commodity contracts - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Asset Derivatives
Fair Value of Derivative Instruments, Assets	$ 11.9	$ 38.6
Liability Derivatives
Fair Value of Derivative Instruments, Liabilities	0	0
Current assets: Fair value of derivative contracts
Asset Derivatives
Fair Value of Derivative Instruments, Assets	11.9	38.6
Long-term assets: Fair value of derivative contracts
Asset Derivatives
Fair Value of Derivative Instruments, Assets	0	0
Current liabilities: Fair value of derivative contracts
Liability Derivatives
Fair Value of Derivative Instruments, Liabilities	0	0
Long-term liabilities: Fair value of derivative contracts
Liability Derivatives
Fair Value of Derivative Instruments, Liabilities	$ 0	$ 0

Derivative Instruments and He38

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
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	$ (8.6)	$ (18.8)	$ (4)	$ 4.1
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a)	8.9	30.4	21.7	67.2
Decrease/increase in oil revenue owing to effective hedging contracts	5.1	26.4	14.4	60.4
Decrease/increase in gas revenue owing to effective hedging contracts	3.8	4	7.3	6.8
Designated as Hedging Instrument | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	(8.6)	(18.8)	(4)	4.1
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a)	8.9	30.4	21.7	67.2
Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)	(0.6)	(0.4)	(0.5)	0.5
Designated as Hedging Instrument | Cash Flow Hedging | Derivative Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)			(0.5)	0.5
Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	(8.6)	(18.8)	(4)	4.1
Cash Flow Hedges | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	(8.6)	(18.8)	(4)	4.1
Cash Flow Hedges | Designated as Hedging Instrument | Derivative Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)	(0.6)	(0.4)
Reclassification out of Accumulated Other Comprehensive Income | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a)	8.9		21.7
Reclassification out of Accumulated Other Comprehensive Income | Cash Flow Hedges | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) (a)	$ 8.9	$ 30.4	$ 21.7	$ 67.2

Derivative Instruments and He39

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 - Commodity contracts - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Cash settlements	$ 0	$ 4.1	$ 0	$ 7.2
Change in fair value	0	(4.4)	0	(5.3)
Total gains (losses) on non-qualifying hedges	$ 0	$ (0.3)	$ 0	$ 1.9

Debt (Detail)

Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Apr. 13, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt	$ 1,411,200		$ 1,061,000
Long-term Debt, Current Maturities	(288,336)		0
Long-term debt	1,122,901		1,060,955
1 3⁄4% Senior Convertible Notes due 2017
Debt Instrument [Line Items]
Long-term debt	287,900		279,300
Long-term Debt, Current Maturities	(287,900)
7 1⁄2% Senior Notes due 2022
Debt Instrument [Line Items]
Long-term debt	770,300		770,000
Revolving credit facility
Debt Instrument [Line Items]
Long-term debt	341,500		0
Long-term Debt, Current Maturities		$ (175,300)
4.20% Building Loan
Debt Instrument [Line Items]
Long-term debt	11,500		$ 11,700
Long-term Debt, Current Maturities	$ (400)

Debt (non-printing) (Detail)

Debt (non-printing) (Detail) $ in Millions	Jun. 10, 2016	Mar. 06, 2012	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015
Debt Instrument [Line Items]
Interest expense related to contractual interest coupon of convertible notes			$ 1.3	$ 1.3	$ 2.6	$ 2.6
Convertible Debt | 1.75% Senior Notes due 2017
Debt Instrument [Line Items]
Interest rate			1.75%		1.75%		1.75%
Senior Notes | 7 1⁄2% Senior Notes due 2022
Debt Instrument [Line Items]
Interest rate			7.50%		7.50%		7.50%
4.20% Building Loan
Debt Instrument [Line Items]
Interest rate			4.20%		4.20%		4.20%
1 3⁄4% Senior Convertible Notes due 2017
Debt Instrument [Line Items]
Initial conversion rate of common stock	0.0023449	0.0234449			1

Debt - Additional Information (

Debt - Additional Information (Detail)	Mar. 01, 2017USD ($)	Jun. 14, 2016USD ($)	Jun. 13, 2016USD ($)	Jun. 10, 2016$ / shares	May 27, 2016	May 13, 2016USD ($)	Mar. 06, 2012USD ($)$ / sharesshares	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2015USD ($)	Aug. 02, 2016USD ($)	Apr. 13, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 24, 2014USD ($)
Debt Instrument [Line Items]
Current portion of long-term debt								$ 288,336,000		$ 288,336,000					$ 0
Fair value of amount outstanding								$ 341,500,000		$ 341,500,000			$ 457,000,000
Long-term debt, weighted average interest rate								4.30%		4.30%
Consolidated funded debt to consolidated EBITDA ratio								3.75		3.75
Consolidated EBITDA To consolidated net interest expense								2.5		2.5
Long-term debt								$ 1,411,200,000		$ 1,411,200,000					1,061,000,000
Interest expense related to contractual interest coupon of convertible notes								1,300,000	$ 1,300,000	$ 2,600,000	$ 2,600,000
Repayments of Lines of Credit		$ 56,800,000
Stock split, conversion ratio					0.1
Minimum
Debt Instrument [Line Items]
Percentage of borrowing base utilization, percent										1.50%
Maximum
Debt Instrument [Line Items]
Percentage of borrowing base utilization, percent										2.50%
1 3⁄4% Senior Convertible Notes due 2017
Debt Instrument [Line Items]
Current portion of long-term debt								$ 287,900,000		$ 287,900,000
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				0.0023449			0.0234449			1
Initial conversion price of convertible note 2017 (in usd per share) | $ / shares				$ 426.50			$ 42.65
Closing share price (in usd per share) | $ / shares								$ 12.06		$ 12.06
Payment for call option							$ 70,800,000
Anti-dilution adjustments for purchases of call option (in shares) | shares							703,347
Strike price per share (in usd per share) | $ / shares							$ 559.10
Proceeds from sale of warrants							$ 40,100,000
Long-term debt								$ 287,900,000		$ 287,900,000					279,300,000
Interest expense related to amortization of discount								4,000,000	3,700,000	7,900,000	7,400,000
Amortization of deferred financing costs								400,000	$ 400,000	$ 800,000	$ 700,000
Revolving credit facility
Debt Instrument [Line Items]
Current portion of long-term debt													175,300,000
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		360,000,000											300,000,000	$ 500,000,000
Outstanding borrowing under bank credit facility								18,300,000		$ 18,300,000			$ 18,300,000
Initial bank and availability under facility								200,000		$ 200,000
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, percent										86.00%
Long-term debt								341,500,000		$ 341,500,000					0
Line of Credit Facility, Minimum Liquidity Requirement		125,000,000
Line of Credit Facility, Limitations on Capital Expenditures		60,000,000
Line of Credit Facility, Amount of Cash to Which Anti-Hoarding Cash Provisions Apply		$ 50,000,000
Repayments of Lines of Credit			$ 29,200,000			$ 29,200,000
4.20% Building Loan
Debt Instrument [Line Items]
Current portion of long-term debt								400,000		400,000
Long-term debt								$ 11,500,000		$ 11,500,000					$ 11,700,000
Scenario, Forecast | 1 3⁄4% Senior Convertible Notes due 2017
Debt Instrument [Line Items]
Cash share holders receive for each dollar In principle	$ 1,000
Subsequent Event
Debt Instrument [Line Items]
Fair value of amount outstanding												$ 341,500,000
Subsequent Event | Revolving credit facility
Debt Instrument [Line Items]
Outstanding borrowing under bank credit facility												18,300,000
Initial bank and availability under facility												$ 200,000
Quarter ended June 30, 2016
Debt Instrument [Line Items]
Consolidated funded debt to consolidated EBITDA ratio		5.25
Quarter ending September 30, 2016
Debt Instrument [Line Items]
Consolidated funded debt to consolidated EBITDA ratio		6.50
Quarter ending December 31, 2016
Debt Instrument [Line Items]
Consolidated funded debt to consolidated EBITDA ratio		9.50
Thereafter
Debt Instrument [Line Items]
Consolidated funded debt to consolidated EBITDA ratio		3.75
Uncompleted Wells | Revolving credit facility
Debt Instrument [Line Items]
Line of Credit Facility, Limitations on Capital Expenditures		$ 25,000,000

Asset Retirement Obligations -

Asset Retirement Obligations - Changes in Asset Retirement Obligations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset retirement obligations as of the beginning of the period, including current portion			$ 225,900
Liabilities incurred			2,100
Liabilities settled			(10,700)
Accretion expense	$ 10,082	$ 6,408	20,065	$ 12,817
Asset retirement obligations as of the end of the period, including current portion	$ 237,400		$ 237,400

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Valuation Allowance [Line Items]
Effective income tax rate, percent	2.10%
Federal statutory income tax rate, percent	35.00%
Current income tax receivable	$ 46,174	$ 46,174
Income taxes receivable, noncurrent	3,200
Ceiling Test Write Downs From Decline in Commodity Prices
Valuation Allowance [Line Items]
Valuation allowance	$ 322,800

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities (Other assets)	$ 8.6	$ 8.5
Assets, fair value, total	20.5	47.1
Derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts	11.9	38.6
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities (Other assets)	8.6	8.5
Assets, fair value, total	8.6	8.5
Quoted Prices in Active Markets for Identical Assets (Level 1) | Derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities (Other assets)	0	0
Assets, fair value, total	11.9	36.6
Significant Other Observable Inputs (Level 2) | Derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts	11.9	36.6
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities (Other assets)	0	0
Assets, fair value, total	0	2
Significant Unobservable Inputs (Level 3) | Derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts	$ 0	$ 2

Fair Value Measurements - Hedgi

Fair Value Measurements - Hedging Contracts (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Hedging Contracts, net
Balance as of January 1, 2016	$ 2
Total gains/(losses) (realized or unrealized):
Included in earnings	1.1
Included in other comprehensive income	(1.9)
Purchases, sales, issuances and settlements	(1.2)
Transfers in and out of Level 3	0
Balance as of June 30, 2016	0
The amount of total gains/(losses) for the period included in earnings (derivative income) attributable to the change in unrealized gain/(losses) relating to derivatives still held at June 30, 2016	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
1 3⁄4% Senior Convertible Notes due 2017
Debt Instrument [Line Items]
Fair value disclosures	$ 258.5	$ 217.1
7 1⁄2% Senior Notes due 2022
Debt Instrument [Line Items]
Fair value of notes	$ 348.8	$ 271.3

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in Accumulated Other Comprehensive Income Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, net of tax	$ 18,700	$ 70,800	$ 17,952	$ 83,300
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	(8,600)	(18,800)	(4,000)	4,100
Foreign currency translations		1,300		(2,300)
Income tax effect	3,100	6,900	1,400	(1,300)
Net of tax	(5,500)	(10,600)	(2,600)	500
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/natural gas production	8,900	30,400	21,700	67,200
Other operational expenses			(6,000)
Income tax effect	(3,100)	(10,900)	(7,700)	(24,100)
Net of tax	5,800	19,500	8,000	43,100
Other comprehensive income (loss), net of tax	(11,300)	(30,100)	(10,600)	(42,600)
Ending balance, net of tax	7,385	40,700	7,385	40,700
Cash Flow Hedges
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, net of tax	18,700	77,900	24,000	86,800
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	(8,600)	(18,800)	(4,000)	4,100
Foreign currency translations		0		0
Income tax effect	3,100	6,900	1,400	(1,300)
Net of tax	(5,500)	(11,900)	(2,600)	2,800
Amounts reclassified from accumulated other comprehensive income:
Other operational expenses			0
Income tax effect	(3,100)	(10,900)	(7,700)	(24,100)
Net of tax	5,800	19,500	14,000	43,100
Other comprehensive income (loss), net of tax	(11,300)	(31,400)	(16,600)	(40,300)
Ending balance, net of tax	7,400	46,500	7,400	46,500
Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/natural gas production	8,900		21,700
Foreign Currency Items
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, net of tax	0	(7,100)	(6,000)	(3,500)
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	0	0	0	0
Foreign currency translations		1,300		(2,300)
Income tax effect	0	0	0	0
Net of tax	0	1,300	0	(2,300)
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/natural gas production	0	0	0	0
Other operational expenses			(6,000)
Income tax effect	0	0	0	0
Net of tax	0	0	(6,000)	0
Other comprehensive income (loss), net of tax	0	1,300	6,000	(2,300)
Ending balance, net of tax	$ 0	$ (5,800)	$ 0	$ (5,800)

Investment in Oil and Gas Pro49

Investment in Oil and Gas Properties - Additional Information (Detail) $ in Thousands	Jun. 30, 2016USD ($)$ / Mcf$ / bbl	Mar. 31, 2016USD ($)$ / Mcf$ / bbl	Jun. 30, 2016USD ($)$ / Mcf$ / bbl	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)$ / Mcf$ / bbl	Jun. 30, 2015USD ($)	Dec. 31, 2015$ / Mcf$ / bbl
Oil and Gas In Process Activities [Line Items]
Write-down of oil and gas properties			$ 118,649	$ 224,294	$ 247,853	$ 715,706
Decrease in written down value of oil and gas properties		$ 23,000	$ 18,100
Oil And Gas
Oil and Gas In Process Activities [Line Items]
Write-down of oil and gas properties	$ 118,600	$ 128,900
Oil
Oil and Gas In Process Activities [Line Items]
Average 12-month oil prices net of differentials | $ / bbl	43.49	46.72	43.49		43.49		51.16
Natural Gas
Oil and Gas In Process Activities [Line Items]
Average twelve month gas prices net of differentials | $ / Mcf	1.93	2.01	1.93		1.93		2.19
Natural Gas Liquids (MBbls)
Oil and Gas In Process Activities [Line Items]
Average 12-month gas prices net of differentials | $ / bbl	9.33	13.65	9.33		9.33		16.40
CANADA
Oil and Gas In Process Activities [Line Items]
Write-down of oil and gas properties		$ 300

Other Operational Expenses (Det

Other Operational Expenses (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other operational expenses	$ 6
Oil and gas, subsidy charges	13.6
Loss on contract termination	20
Foreign Currency Items
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other operational expenses	$ 6

Restructuring Fees (Details)

Restructuring Fees (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring fees	$ 9,436	$ 0	$ 10,389	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Bureau of Ocean Energy Management - USD ($) $ in Millions	Dec. 31, 2016	Jun. 30, 2016	Mar. 21, 2016
Loss Contingencies [Line Items]
Bonding requirement, amount			$ 565
Surety bond		$ 230
Scenario, Forecast
Loss Contingencies [Line Items]
Bonding requirement, amount	$ 16

New York Stock Exchange Compl53

New York Stock Exchange Compliance (Details)	May 27, 2016	Jul. 01, 2016$ / shares	Apr. 29, 2016$ / shares
Subsequent Event [Line Items]
Stock split, conversion ratio	0.1
Share Price (below) (in USD per share)			$ 1
Subsequent Event
Subsequent Event [Line Items]
Share Price (below) (in USD per share)		$ 1

Guarantor Financial Statement54

Guarantor Financial Statements - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 169,194		$ 10,759	$ 141,655		$ 74,488
Accounts receivable	38,276		48,031
Fair value of derivative contracts	11,887		38,576
Current income tax receivable	46,174		46,174
Other current assets	12,080		6,881
Total current assets	277,611		150,421
Oil and gas properties, full cost method:
Proved	9,518,245		9,375,898
Less: accumulated DD&A	(8,960,440)		(8,603,955)
Net proved oil and gas properties	557,805		771,943
Unevaluated	425,204		440,043
Other property and equipment, net	27,968		29,289
Other assets, net	28,183		18,473
Investment in subsidiary	0
Total assets	1,316,771		1,410,169
Current liabilities:
Accounts payable to vendors	28,914		82,207
Undistributed oil and gas proceeds	5,071		5,992
Accrued interest	9,773		9,022
Fair value of derivative contracts	37		0
Asset retirement obligations	33,695		21,291
Current portion of long-term debt	288,336		0
Other current liabilities	34,793		40,712
Total current liabilities	400,619		159,224
Long-term debt	1,122,901		1,060,955
Asset retirement obligations	203,661		204,575
Other long-term liabilities	18,446		25,204
Total liabilities	1,745,627		1,449,958
Commitments and contingencies
Stockholders’ equity:
Common stock	56		55
Treasury stock	(860)		(860)
Additional paid-in capital	1,654,731		1,648,687
Accumulated deficit	(2,090,168)		(1,705,623)
Accumulated other comprehensive income (loss)	7,385	$ 18,700	17,952	40,700	$ 70,800	83,300
Total stockholders’ equity	(428,856)		(39,789)
Total liabilities and stockholders’ equity	1,316,771		1,410,169
Parent
Current assets:
Cash and cash equivalents	169,193		9,681	116,427		72,886
Accounts receivable	25,410		10,597
Fair value of derivative contracts	0
Current income tax receivable	46,174		46,174
Other current assets	12,080		6,848
Total current assets	252,857		73,300
Oil and gas properties, full cost method:
Proved	1,907,347		1,875,152
Less: accumulated DD&A	(1,907,326)		(1,874,622)
Net proved oil and gas properties	21		530
Unevaluated	261,971		253,308
Other property and equipment, net	27,968		29,289
Other assets, net	27,445		16,612
Investment in subsidiary	503,738		745,033
Total assets	1,074,000		1,118,072
Current liabilities:
Accounts payable to vendors	23,153		16,063
Undistributed oil and gas proceeds	4,379		5,216
Accrued interest	9,773		9,022
Fair value of derivative contracts	0
Asset retirement obligations	0
Current portion of long-term debt	288,336
Other current liabilities	34,513		40,161
Total current liabilities	360,154		70,462
Long-term debt	1,122,901		1,060,955
Asset retirement obligations	1,355		1,240
Other long-term liabilities	18,446		25,204
Total liabilities	1,502,856		1,157,861
Commitments and contingencies
Stockholders’ equity:
Common stock	56		55
Treasury stock	(860)		(860)
Additional paid-in capital	1,654,731		1,648,687
Accumulated deficit	(2,090,168)		(1,705,623)
Accumulated other comprehensive income (loss)	7,385		17,952
Total stockholders’ equity	(428,856)		(39,789)
Total liabilities and stockholders’ equity	1,074,000		1,118,072
Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	1		2	25,034		1,450
Accounts receivable	31,171		39,190
Fair value of derivative contracts	11,887		38,576
Current income tax receivable	0
Other current assets	0
Total current assets	43,059		77,768
Oil and gas properties, full cost method:
Proved	7,565,003		7,458,262
Less: accumulated DD&A	(7,007,219)		(6,686,849)
Net proved oil and gas properties	557,784		771,413
Unevaluated	163,233		186,735
Other property and equipment, net	0
Other assets, net	738		826
Investment in subsidiary	0
Total assets	764,814		1,036,742
Current liabilities:
Accounts payable to vendors	24,950		67,901
Undistributed oil and gas proceeds	692		776
Accrued interest	0
Fair value of derivative contracts	37
Asset retirement obligations	33,695		20,400
Current portion of long-term debt	0
Other current liabilities	280		551
Total current liabilities	59,654		89,628
Long-term debt	0
Asset retirement obligations	202,306		203,335
Other long-term liabilities
Total liabilities	261,960		292,963
Commitments and contingencies
Stockholders’ equity:
Common stock	0
Treasury stock	0
Additional paid-in capital	1,344,577		1,344,577
Accumulated deficit	(849,108)		(624,824)
Accumulated other comprehensive income (loss)	7,385		24,026
Total stockholders’ equity	502,854		743,779
Total liabilities and stockholders’ equity	764,814		1,036,742
Non- Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	0		1,076	194		152
Accounts receivable	883		0
Fair value of derivative contracts	0
Current income tax receivable	0
Other current assets	0		33
Total current assets	883		1,109
Oil and gas properties, full cost method:
Proved	45,895		42,484
Less: accumulated DD&A	(45,895)		(42,484)
Net proved oil and gas properties	0
Unevaluated	0		0
Other property and equipment, net	0
Other assets, net	0		1,035
Investment in subsidiary	0		1,088
Total assets	883		3,232
Current liabilities:
Accounts payable to vendors	0
Undistributed oil and gas proceeds	0
Accrued interest	0
Fair value of derivative contracts	0
Asset retirement obligations	0		891
Current portion of long-term debt	0
Other current liabilities	0
Total current liabilities	0		891
Long-term debt	0
Asset retirement obligations	0
Other long-term liabilities	0
Total liabilities	0		891
Commitments and contingencies
Stockholders’ equity:
Common stock	0
Treasury stock	0
Additional paid-in capital	109,078		109,795
Accumulated deficit	(108,195)		(95,306)
Accumulated other comprehensive income (loss)	0		(12,148)
Total stockholders’ equity	883		2,341
Total liabilities and stockholders’ equity	883		3,232
Eliminations
Current assets:
Cash and cash equivalents	0		0	$ 0		$ 0
Accounts receivable	(19,188)		(1,756)
Fair value of derivative contracts	0
Current income tax receivable	0
Other current assets	0
Total current assets	(19,188)		(1,756)
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
Other assets, net	0
Investment in subsidiary	(503,738)		(746,121)
Total assets	(522,926)		(747,877)
Current liabilities:
Accounts payable to vendors	(19,189)		(1,757)
Undistributed oil and gas proceeds	0
Accrued interest	0
Fair value of derivative contracts	0
Asset retirement obligations	0
Current portion of long-term debt	0
Other current liabilities	0
Total current liabilities	(19,189)		(1,757)
Long-term debt	0
Asset retirement obligations	0
Other long-term liabilities	0
Total liabilities	(19,189)		(1,757)
Commitments and contingencies
Stockholders’ equity:
Common stock	0
Treasury stock	0
Additional paid-in capital	(1,453,655)		(1,454,372)
Accumulated deficit	957,303		720,130
Accumulated other comprehensive income (loss)	(7,385)		(11,878)
Total stockholders’ equity	(503,737)		(746,120)
Total liabilities and stockholders’ equity	$ (522,926)		$ (747,877)

Guarantor Financial Statement55

Guarantor Financial Statements - Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating revenue:
Oil production	$ 72,711	$ 111,585	$ 132,986	$ 219,092
Natural gas production	12,553	26,907	27,726	55,244
Natural gas liquids production	3,718	11,033	8,453	23,399
Other operational income	337	0	693	1,792
Derivative income, net	0	0	0	2,427
Total operating revenue	89,319	149,525	169,858	301,954
Operating expenses:
Lease operating expenses	18,826	27,429	38,373	55,006
Transportation, processing and gathering expenses	7,183	19,940	8,024	37,643
Production taxes	578	1,827	1,059	4,342
Depreciation, depletion and amortization	46,231	77,951	107,789	164,373
Write-down of oil and gas properties	118,649	224,294	247,853	715,706
Accretion expense	10,082	6,408	20,065	12,817
Salaries, general and administrative expenses	20,014	16,418	32,768	33,425
Incentive compensation expense	4,670	1,264	9,649	2,827
Restructuring fees	9,436	0	10,389	0
Other operational expenses	27,680	1,454	40,207	1,170
Derivative expense, net	626	701	488	0
Total operating expenses	263,975	377,686	516,664	1,027,309
Loss from operations	(174,656)	(228,161)	(346,806)	(725,355)
Other (income) expenses:
Interest expense	17,599	10,472	32,840	20,837
Interest income	(302)	(66)	(416)	(188)
Other income	(270)	(613)	(568)	(756)
Other expense	9	0	11	0
Total other expenses	17,036	9,793	31,867	19,893
Loss before income taxes	(191,692)	(237,954)	(378,673)	(745,248)
Provision (benefit) for income taxes:
Current	(2,113)	0	(3,187)	0
Deferred	6,182	(85,048)	9,059	(264,954)
Total income taxes	4,069	(85,048)	5,872	(264,954)
Net loss	(195,761)	(152,906)	(384,545)	(480,294)
Comprehensive income (loss)	(207,117)	(183,062)	(395,112)	(522,953)
Parent
Operating revenue:
Oil production	1,323	6,504	1,384	10,854
Natural gas production	3,959	15,647	6,426	32,264
Natural gas liquids production	2,375	8,077	3,509	17,956
Other operational income	337		693	1,792
Derivative income, net				0
Total operating revenue	7,994	30,228	12,012	62,866
Operating expenses:
Lease operating expenses	3,814	5,111	6,542	10,087
Transportation, processing and gathering expenses	6,021	17,974	7,567	34,082
Production taxes	383	1,436	642	3,634
Depreciation, depletion and amortization	10,470	44,052	19,064	86,164
Write-down of oil and gas properties	6,534	179,125	15,858	670,537
Accretion expense	58	91	116	182
Salaries, general and administrative expenses	20,013	16,398	32,967	33,399
Incentive compensation expense	4,670	1,264	9,649	2,827
Restructuring fees	9,436		10,389
Other operational expenses	27,736	1,454	33,845	1,170
Derivative expense, net	0
Total operating expenses	89,135	266,905	136,639	842,082
Loss from operations	(81,141)	(236,677)	(124,627)	(779,216)
Other (income) expenses:
Interest expense	17,599	10,472	32,840	20,816
Interest income	(302)	(46)	(416)	(147)
Other income	(20)	(187)	(59)	(320)
Other expense	9		11
(Income) loss from investment in subsidiaries	99,447	(16,147)	230,729	(45,174)
Total other expenses	116,733	(5,908)	263,105	(24,825)
Loss before income taxes	(197,874)	(230,769)	(387,732)	(754,391)
Provision (benefit) for income taxes:
Current	(2,113)		(3,187)
Deferred	0	(77,863)	0	(274,097)
Total income taxes	(2,113)	(77,863)	(3,187)	(274,097)
Net loss	(195,761)	(152,906)	(384,545)	(480,294)
Comprehensive income (loss)	(207,117)	(183,062)	(395,112)	(522,953)
Guarantor Subsidiaries
Operating revenue:
Oil production	71,388	105,081	131,602	208,238
Natural gas production	8,594	11,260	21,300	22,980
Natural gas liquids production	1,343	2,956	4,944	5,443
Other operational income	0		0	0
Derivative income, net				2,427
Total operating revenue	81,325	119,297	157,846	239,088
Operating expenses:
Lease operating expenses	15,012	22,318	31,818	44,919
Transportation, processing and gathering expenses	1,162	1,966	457	3,561
Production taxes	195	391	417	708
Depreciation, depletion and amortization	35,761	33,899	88,725	78,209
Write-down of oil and gas properties	112,114	0	231,645	0
Accretion expense	10,024	6,317	19,949	12,635
Salaries, general and administrative expenses	1	0	(199)	1
Restructuring fees			0
Other operational expenses	(57)	0	280	0
Derivative expense, net	626	701	488
Total operating expenses	174,838	65,592	373,580	140,033
Loss from operations	(93,513)	53,705	(215,734)	99,055
Other (income) expenses:
Interest expense	0	0	0	21
Interest income	0	(19)	0	(35)
Other income	(250)	(423)	(509)	(433)
Other expense	0
Total other expenses	(250)	(442)	(509)	(447)
Loss before income taxes	(93,263)	54,147	(215,225)	99,502
Provision (benefit) for income taxes:
Current	0		0
Deferred	6,182	9,082	9,059	25,410
Total income taxes	6,182	9,082	9,059	25,410
Net loss	(99,445)	45,065	(224,284)	74,092
Comprehensive income (loss)	(99,445)	45,065	(224,284)	74,092
Non- Guarantor Subsidiaries
Operating expenses:
Lease operating expenses	0		13
Depreciation, depletion and amortization			0	0
Write-down of oil and gas properties	1	45,169	350	45,169
Accretion expense				0
Salaries, general and administrative expenses	0	20	0	25
Restructuring fees			0
Other operational expenses	1		6,082
Derivative expense, net	0
Total operating expenses	2	45,189	6,445	45,194
Loss from operations	(2)	(45,189)	(6,445)	(45,194)
Other (income) expenses:
Interest income	0	(1)	0	(6)
Other income	0	(3)	0	(3)
Other expense	0
(Income) loss from investment in subsidiaries	1	28,918	6,444	28,918
Total other expenses	1	28,914	6,444	28,909
Loss before income taxes	(3)	(74,103)	(12,889)	(74,103)
Provision (benefit) for income taxes:
Current	0		0
Deferred	0	(16,267)	0	(16,267)
Total income taxes	0	(16,267)	0	(16,267)
Net loss	(3)	(57,836)	(12,889)	(57,836)
Comprehensive income (loss)	(3)	(57,836)	(12,889)	(57,836)
Eliminations
Operating expenses:
Depreciation, depletion and amortization			0	0
Write-down of oil and gas properties				0
Accretion expense				0
Other (income) expenses:
(Income) loss from investment in subsidiaries	(99,448)	(12,771)	(237,173)	16,256
Total other expenses	(99,448)	(12,771)	(237,173)	16,256
Loss before income taxes	99,448	12,771	237,173	(16,256)
Provision (benefit) for income taxes:
Current	0		0
Deferred	0		0	0
Total income taxes	0		0
Net loss	99,448	12,771	237,173	(16,256)
Comprehensive income (loss)	$ 99,448	$ 12,771	$ 237,173	$ (16,256)

Guarantor Financial Statement56

Guarantor Financial Statements - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net loss	$ (195,761)	$ (152,906)	$ (384,545)	$ (480,294)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	46,231	77,951	107,789	164,373
Write-down of oil and gas properties	118,649	224,294	247,853	715,706
Accretion expense	10,082	6,408	20,065	12,817
Deferred income tax provision (benefit)	6,182	(85,048)	9,059	(264,954)
Settlement of asset retirement obligations			(10,706)	(35,923)
Non-cash stock compensation expense			4,682	6,028
Non-cash derivative expense			1,025	7,931
Non-cash interest expense			9,403	8,737
Other non-cash expense			6,081	0
Change in current income taxes			(3,187)	7,206
Non-cash loss from investment in subsidiaries				0
Change in intercompany receivables/payables				0
(Increase) decrease in accounts receivable			9,755	23,047
Increase in other current assets			(5,283)	(1,959)
(Increase) decrease in inventory				0
Decrease in accounts payable			(321)	(7,826)
Decrease in other current liabilities			(5,920)	(8,720)
Other			(7,880)	(504)
Net cash (used in) provided by operating activities			(2,130)	145,665
Cash flows from investing activities:
Investment in oil and gas properties			(179,311)	(264,355)
Proceeds from sale of oil and gas properties, net of expenses			0	10,100
Investment in fixed and other assets			(898)	(727)
Change in restricted funds			1,045	179,475
Investment in subsidiaries				0
Net cash used in investing activities			(179,164)	(75,507)
Cash flows from financing activities:
Proceeds from bank borrowings			477,000	5,000
Repayments of bank borrowings			(135,500)	(5,000)
Repayments of building loan			(189)	0
Deferred financing costs			(900)	0
Equity proceeds from parent				0
Net payments for share-based compensation			(673)	(3,069)
Net cash provided by (used in) financing activities			339,738	(3,069)
Effect of exchange rate changes on cash			(9)	78
Net change in cash and cash equivalents			158,435	67,167
Cash and cash equivalents, beginning of period			10,759	74,488
Cash and cash equivalents, end of period	169,194	141,655	169,194	141,655
Parent
Cash flows from operating activities:
Net loss	(195,761)	(152,906)	(384,545)	(480,294)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	10,470	44,052	19,064	86,164
Write-down of oil and gas properties	6,534	179,125	15,858	670,537
Accretion expense	58	91	116	182
Deferred income tax provision (benefit)	0	(77,863)	0	(274,097)
Settlement of asset retirement obligations			0	(14)
Non-cash stock compensation expense			4,682	6,028
Non-cash derivative expense				0
Non-cash interest expense			9,403	8,737
Change in current income taxes			(3,187)	7,206
Non-cash loss from investment in subsidiaries			230,729	(45,174)
Change in intercompany receivables/payables			(1,658)	15,070
(Increase) decrease in accounts receivable			(8,471)	16,968
Increase in other current assets			(5,316)	(1,895)
(Increase) decrease in inventory				(2,415)
Decrease in accounts payable			2,226	(500)
Decrease in other current liabilities			(5,565)	(8,409)
Other			(7,372)	(71)
Net cash (used in) provided by operating activities			(134,036)	(1,977)
Cash flows from investing activities:
Investment in oil and gas properties			(45,292)	(128,333)
Proceeds from sale of oil and gas properties, net of expenses				0
Investment in fixed and other assets			(898)	(727)
Change in restricted funds			0	177,647
Investment in subsidiaries				0
Net cash used in investing activities			(46,190)	48,587
Cash flows from financing activities:
Proceeds from bank borrowings			477,000	5,000
Repayments of bank borrowings			(135,500)	(5,000)
Repayments of building loan			(189)
Deferred financing costs			(900)
Equity proceeds from parent				0
Net payments for share-based compensation			(673)	(3,069)
Net cash provided by (used in) financing activities			339,738	(3,069)
Effect of exchange rate changes on cash				0
Net change in cash and cash equivalents			159,512	43,541
Cash and cash equivalents, beginning of period			9,681	72,886
Cash and cash equivalents, end of period	169,193	116,427	169,193	116,427
Guarantor Subsidiaries
Cash flows from operating activities:
Net loss	(99,445)	45,065	(224,284)	74,092
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	35,761	33,899	88,725	78,209
Write-down of oil and gas properties	112,114	0	231,645	0
Accretion expense	10,024	6,317	19,949	12,635
Deferred income tax provision (benefit)	6,182	9,082	9,059	25,410
Settlement of asset retirement obligations			(9,807)	(35,909)
Non-cash stock compensation expense				0
Non-cash derivative expense			1,025	7,931
Non-cash interest expense				0
Change in current income taxes				0
Non-cash loss from investment in subsidiaries				0
Change in intercompany receivables/payables			1,658	(24,802)
(Increase) decrease in accounts receivable			19,109	6,079
Increase in other current assets				0
(Increase) decrease in inventory				2,415
Decrease in accounts payable			(2,547)	(7,326)
Decrease in other current liabilities			(355)	(311)
Other			(508)	(433)
Net cash (used in) provided by operating activities			133,669	137,990
Cash flows from investing activities:
Investment in oil and gas properties			(133,670)	(124,506)
Proceeds from sale of oil and gas properties, net of expenses				10,100
Investment in fixed and other assets				0
Change in restricted funds				0
Investment in subsidiaries				0
Net cash used in investing activities			(133,670)	(114,406)
Cash flows from financing activities:
Proceeds from bank borrowings				0
Repayments of bank borrowings				0
Equity proceeds from parent				0
Net payments for share-based compensation				0
Net cash provided by (used in) financing activities				0
Effect of exchange rate changes on cash				0
Net change in cash and cash equivalents			(1)	23,584
Cash and cash equivalents, beginning of period			2	1,450
Cash and cash equivalents, end of period	1	25,034	1	25,034
Non- Guarantor Subsidiaries
Cash flows from operating activities:
Net loss	(3)	(57,836)	(12,889)	(57,836)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization			0	0
Write-down of oil and gas properties	1	45,169	350	45,169
Accretion expense				0
Deferred income tax provision (benefit)	0	(16,267)	0	(16,267)
Settlement of asset retirement obligations			(899)	0
Non-cash stock compensation expense				0
Non-cash derivative expense				0
Non-cash interest expense				0
Other non-cash expense			6,081
Change in current income taxes				0
Non-cash loss from investment in subsidiaries			6,444	28,918
Change in intercompany receivables/payables			0	9,732
(Increase) decrease in accounts receivable			(883)	0
Increase in other current assets			33	(64)
(Increase) decrease in inventory				0
Decrease in accounts payable				0
Decrease in other current liabilities				0
Other				0
Net cash (used in) provided by operating activities			(1,763)	9,652
Cash flows from investing activities:
Investment in oil and gas properties			(349)	(11,516)
Proceeds from sale of oil and gas properties, net of expenses				0
Investment in fixed and other assets				0
Change in restricted funds			1,045	1,828
Investment in subsidiaries			717	(9,684)
Net cash used in investing activities			1,413	(19,372)
Cash flows from financing activities:
Proceeds from bank borrowings				0
Repayments of bank borrowings				0
Equity proceeds from parent			(717)	9,684
Net payments for share-based compensation				0
Net cash provided by (used in) financing activities			(717)	9,684
Effect of exchange rate changes on cash			(9)	78
Net change in cash and cash equivalents			(1,076)	42
Cash and cash equivalents, beginning of period			1,076	152
Cash and cash equivalents, end of period	0	194	0	194
Eliminations
Cash flows from operating activities:
Net loss	99,448	12,771	237,173	(16,256)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization			0	0
Write-down of oil and gas properties				0
Accretion expense				0
Deferred income tax provision (benefit)	0		0	0
Settlement of asset retirement obligations				0
Non-cash stock compensation expense				0
Non-cash derivative expense				0
Non-cash interest expense				0
Change in current income taxes				0
Non-cash loss from investment in subsidiaries			(237,173)	16,256
Change in intercompany receivables/payables				0
(Increase) decrease in accounts receivable				0
Increase in other current assets				0
(Increase) decrease in inventory				0
Decrease in accounts payable				0
Decrease in other current liabilities				0
Other				0
Net cash (used in) provided by operating activities			0	0
Cash flows from investing activities:
Investment in oil and gas properties				0
Proceeds from sale of oil and gas properties, net of expenses				0
Investment in fixed and other assets				0
Change in restricted funds				0
Investment in subsidiaries			(717)	9,684
Net cash used in investing activities			(717)	9,684
Cash flows from financing activities:
Proceeds from bank borrowings				0
Repayments of bank borrowings				0
Equity proceeds from parent			717	(9,684)
Net payments for share-based compensation				0
Net cash provided by (used in) financing activities			717	(9,684)
Effect of exchange rate changes on cash				0
Net change in cash and cash equivalents			0	0
Cash and cash equivalents, beginning of period			0	0
Cash and cash equivalents, end of period	$ 0	$ 0	$ 0	$ 0