Stone Energy (SGY) 10-Q 6 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 05, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
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		57,249,506

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands		Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents		$ 141,655		$ 74,488	$ 333,886		$ 331,224
Restricted cash				177,647
Accounts receivable		68,706		120,359
Fair value of derivative contracts		74,319		139,179
Current income tax receivable		6		7,212
Inventory		3,709		3,709
Other current assets		10,076		8,118
Total current assets		298,471		530,712
Oil and gas properties, full cost method of accounting:
Proved		9,074,425		8,817,268
Less: accumulated depreciation, depletion and amortization		(7,846,343)		(6,970,631)
Net proved oil and gas properties		1,228,082		1,846,637
Unevaluated		529,589		567,365
Other property and equipment, net		30,736		32,340
Fair value of derivative contracts		8,231		14,333
Other assets, net		28,082		27,224
Total assets		2,123,191		3,018,611
Current liabilities:
Accounts payable to vendors		69,423		132,629
Undistributed oil and gas proceeds		17,000		23,232
Accrued interest		9,027		9,022
Deferred taxes	[1]	7,065		20,119
Asset retirement obligations		56,176		69,400
Other current liabilities		46,780		49,505
Total current liabilities		205,471		303,907
Long-term debt		1,048,406		1,041,035
Deferred taxes	[1]	11,752		286,343
Asset retirement obligations		240,613		247,009
Other long-term liabilities		32,213		38,714
Total liabilities		$ 1,538,455		$ 1,917,008
Commitments and contingencies
Stockholders' equity:
Common stock, $.01 par value; authorized 150,000,000 shares; issued 55,283,825 and 54,884,542 shares, respectively		$ 553		$ 549
Treasury stock (16,582 shares, at cost)		(860)		(860)
Additional paid-in capital		1,639,389		1,633,307
Accumulated deficit		(1,095,002)		(614,708)
Accumulated other comprehensive income		40,656	$ 70,800	83,315	$ (18,200)	$ (9,200)	$ (2,100)
Total stockholders' equity		584,736		1,101,603
Total liabilities and stockholders' equity		$ 2,123,191		$ 3,018,611
[1]	Deferred income taxes have been allocated to our Guarantor Subsidiaries where related oil and gas properties reside.

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	55,283,825	54,884,542
Treasury stock, shares	16,582	16,582

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating revenue:
Oil production	$ 111,585	$ 142,393	$ 219,092	$ 280,682
Natural gas production	26,907	46,667	55,244	103,029
Natural gas liquids production	11,033	15,936	23,399	43,906
Other operational income		2,050	1,792	3,047
Derivative income, net			2,427
Total operating revenue	149,525	207,046	301,954	430,664
Operating expenses:
Lease operating expenses	27,429	49,454	55,006	96,357
Transportation, processing and gathering expenses	19,940	14,098	37,643	28,724
Production taxes	1,827	3,257	4,342	6,319
Depreciation, depletion and amortization	77,951	92,835	164,373	175,481
Write-down of oil and gas properties	224,294		715,706
Accretion expense	6,408	7,733	12,817	15,288
Salaries, general and administrative expenses	16,418	16,637	33,425	32,966
Incentive compensation expense	1,264	3,903	2,827	7,037
Other operational expenses	1,454		1,170	212
Derivative expense, net	701	2,516		3,115
Total operating expenses	377,686	190,433	1,027,309	365,499
Income (loss) from operations	(228,161)	16,613	(725,355)	65,165
Other (income) expenses:
Interest expense	10,472	9,913	20,837	18,270
Interest income	(66)	(193)	(188)	(336)
Other income	(613)	(722)	(756)	(1,429)
Other expense		179		179
Total other (income) expenses	9,793	9,177	19,893	16,684
Income (loss) before income taxes	(237,954)	7,436	(745,248)	48,481
Provision (benefit) for income taxes:
Deferred	(85,048)	2,992	(264,954)	18,094
Total income taxes	(85,048)	2,992	(264,954)	18,094
Net income (loss)	$ (152,906)	$ 4,444	$ (480,294)	$ 30,387
Basic earnings (loss) per share	$ (2.77)	$ 0.08	$ (8.70)	$ 0.59
Diluted earnings (loss) per share	$ (2.77)	$ 0.08	$ (8.70)	$ 0.59
Average shares outstanding	55,251	52,050	55,216	50,540
Average shares outstanding assuming dilution	55,251	52,373	55,216	50,727

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (152,906)	$ 4,444	$ (480,294)	$ 30,387
Other comprehensive income (loss), net of tax effect:
Derivatives	(31,480)	(9,765)	(40,338)	(16,355)
Foreign currency translation	1,324	755	(2,321)	256
Comprehensive income (loss)	$ (183,062)	$ (4,566)	$ (522,953)	$ 14,288

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (480,294)	$ 30,387
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	164,373	175,481
Write-down of oil and gas properties	715,706
Accretion expense	12,817	15,288
Deferred income tax (benefit) provision	(264,954)	18,094
Settlement of asset retirement obligations	(35,923)	(24,915)
Non-cash stock compensation expense	6,028	5,358
Non-cash derivative expense	7,931	2,697
Non-cash interest expense	8,737	8,229
Change in current income taxes	7,206	(6)
(Increase) decrease in accounts receivable	23,047	(25,524)
Increase in other current assets	(1,959)	(82)
Increase (decrease) in accounts payable	(7,826)	1,843
Increase (decrease) in other current liabilities	(8,720)	50,785
Other	(504)	(675)
Net cash (used in) provided by operating activities	145,665	256,960
Cash flows from investing activities:
Investment in oil and gas properties	(264,355)	(517,904)
Proceeds from sale of oil and gas properties, net of expenses	10,100	51,955
Investment in fixed and other assets	(727)	(3,896)
Change in restricted funds	179,475	(356)
Net cash used in investing activities	(75,507)	(470,201)
Cash flows from financing activities:
Proceeds from bank borrowings	5,000
Repayment of bank borrowings	(5,000)
Net proceeds from issuance of common stock		226,036
Deferred financing costs		(3,167)
Net payments for share-based compensation	(3,069)	(6,948)
Net cash provided by (used in) financing activities	(3,069)	215,921
Effect of exchange rate changes on cash	78	(18)
Net change in cash and cash equivalents	67,167	2,662
Cash and cash equivalents, beginning of period	74,488	331,224
Cash and cash equivalents, end of period	$ 141,655	$ 333,886

Interim Financial Statements

Interim Financial Statements	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Interim Financial Statements	Note 1 – Interim Financial Statements The condensed consolidated financial statements of Stone Energy Corporation (“Stone”) and its subsidiaries as of June 30, 2015 and for the three and six month periods ended June 30, 2015 and 2014 are unaudited and reflect all adjustments (consisting only of normal recurring adjustments), which are, in the opinion of management, necessary for a fair presentation of the financial position and operating results for the interim periods. The condensed consolidated balance sheet as of December 31, 2014 has been derived from the audited financial statements as of that date contained in our Annual Report on Form 10-K for the year ended December 31, 2014 (our “2014 Annual Report on Form 10-K”). The condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto, together with management’s discussion and analysis of financial condition and results of operations, contained in our 2014 Annual Report on Form 10-K. The results of operations for the three and six month periods ended June 30, 2015 are not necessarily indicative of future financial results.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Note 2 – 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 June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands, except per share data) Income (numerator): Basic: Net income (loss) ($ 152,906 ) $ 4,444 ($ 480,294 ) $ 30,387 Net income attributable to participating securities — (111 ) — (698 ) Net income (loss) attributable to common stock - basic ($ 152,906 ) $ 4,333 ($ 480,294 ) $ 29,689 Diluted: Net income (loss) ($ 152,906 ) $ 4,444 ($ 480,294 ) $ 30,387 Net income attributable to participating securities — (111 ) — (697 ) Net income (loss) attributable to common stock - diluted ($ 152,906 ) $ 4,333 ($ 480,294 ) $ 29,690 Weighted average shares (denominator): Weighted average shares - basic 55,251 52,050 55,216 50,540 Dilutive effect of stock options — 58 — 54 Dilutive effect of convertible notes — 265 — 133 Weighted average shares - diluted 55,251 52,373 55,216 50,727 Basic earnings (loss) per share ($ 2.77 ) $ 0.08 ($ 8.70 ) $ 0.59 Diluted earnings (loss) per share ($ 2.77 ) $ 0.08 ($ 8.70 ) $ 0.59 All outstanding stock options were considered antidilutive during the three and six months ended June 30, 2015 (approximately 174,000 shares) because we had a net loss for such periods. Stock options that were considered antidilutive because the exercise price of the options exceeded the average price of our common stock totaled approximately 120,000 shares and 131,000 shares, respectively, during the three and six months ended June 30, 2014. During the three months ended June 30, 2015 and 2014, approximately 29,000 shares and 40,000 shares of our common stock, respectively, were issued from authorized shares upon the lapsing of forfeiture restrictions of restricted stock by employees and nonemployee directors. During the six months ended June 30, 2015 and 2014, approximately 399,000 shares and 372,000 shares of our common stock, respectively, were issued from authorized shares upon the lapsing of forfeiture restrictions of restricted stock by employees and nonemployee directors. In May 2014, 5,750,000 shares of our common stock were issued in a public offering. Because it is management’s stated intention to redeem the principal amount of our 1 3 4 Note 4 – Long-Term Debt Note 4 – Long-Term Debt Note 4 – Long-Term Debt

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Note 3 – 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 gas production and cash flows from operating activities. Instruments not qualifying as hedging instruments are recorded in our balance sheet at fair value, and 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 with various counterparties for a portion of our expected 2015 and 2016 oil and natural gas production from the Gulf Coast Basin. Our fixed-price oil swap settlements 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. Our fixed-price swap contracts are with The Toronto-Dominion Bank, Barclays Bank PLC, The Bank of Nova Scotia, Bank of America and Natixis. The following table illustrates our derivative positions for calendar years 2015 and 2016 as of August 5, 2015: Fixed-Price Swaps (NYMEX) Natural Gas Oil Daily Volume Swap Price Daily Volume (Bbls/d) Swap Price ($) 2015 10,000 4.005 1,000 89.00 2015 10,000 4.120 1,000 90.00 2015 10,000 4.150 1,000 90.25 2015 10,000 4.165 1,000 90.40 2015 10,000 4.220 1,000 91.05 2015 10,000 4.255 1,000 93.28 2015 1,000 93.37 2015 1,000 94.85 2015 1,000 95.00 2016 10,000 4.110 1,000 90.00 2016 10,000 4.120 During 2014, certain of our natural gas derivative instruments no longer qualified as cash flow hedges, as it was no longer probable, subsequent to the sale of our non-core Gulf of Mexico (“GOM”) conventional shelf properties (see Note 6 – Divestitures 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, 2015 and December 31, 2014: Fair Value of Derivatives Qualifying as Hedging Instruments at June 30, 2015 (In millions) Asset Derivatives Liability Derivatives Description Balance Sheet Location Fair Value Balance Sheet Location Fair Commodity contracts Current assets: Fair value of $ 67.5 Current liabilities: Fair value $ — Long-term assets: Fair value 8.2 Long-term liabilities: Fair — $ 75.7 $ — Fair Value of Derivatives Qualifying as Hedging Instruments at December 31, 2014 (In millions) Asset Derivatives Liability Derivatives Description Balance Sheet Location Fair Balance Sheet Location Fair Commodity contracts Current assets: Fair value of $ 127.0 Current liabilities: Fair value $ — Long-term assets: Fair value 14.3 Long-term liabilities: Fair — $ 141.3 $ — The following tables disclose the before tax effect of derivatives qualifying as hedging instruments, as reported in the statement of operations, for the three and six months ended June 30, 2015 and 2014: Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Three Months Ended June 30, 2015 and 2014 (In millions) Derivatives in Cash Flow Hedging Relationships Amount of Gain Gain (Loss) Reclassified from Accumulated Other Comprehensive (Effective Portion) (a) Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion) 2015 2014 Location 2015 2014 Location 2015 2014 Commodity contracts ($ 18.8 ) ($ 26.0 ) Operating revenue - $ 30.4 ($ 9.2 ) Derivative income (expense), net ($ 0.4 ) ($ 1.0 ) Total ($ 18.8 ) ($ 26.0 ) $ 30.4 ($ 9.2 ) ($ 0.4 ) ($ 1.0 ) (a) For the three months ended June 30, 2015, effective hedging contracts increased oil revenue by $26.4 million and increased gas revenue by $4.0 million. For the three months ended June 30, 2014, effective hedging contracts decreased oil revenue by $6.1 million and decreased gas revenue by $3.1 million. Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Six Months Ended June 30, 2015 and 2014 (In millions) Derivatives in Cash Flow Hedging Relationships Amount of Gain Gain (Loss) Reclassified from Accumulated Other Comprehensive (Effective Portion) (a) Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion) 2015 2014 Location 2015 2014 Location 2015 2014 Commodity contracts $ 4.1 ($ 43.4 ) Operating revenue - oil/gas production $ 67.2 ($ 16.3 ) Derivative income (expense), net $ 0.5 ($ 1.6 ) Total $ 4.1 ($ 43.4 ) $ 67.2 ($ 16.3 ) $ 0.5 ($ 1.6 ) (a) For the six months ended June 30, 2015, effective hedging contracts increased oil revenue by $60.4 million and increased gas revenue by $6.8 million. For the six months ended June 30, 2014, effective hedging contracts decreased oil revenue by $8.6 million and decreased gas revenue by $7.7 million. Derivatives not qualifying as hedging instruments: The following table discloses the location and fair value amounts of our derivatives not qualifying as hedging instruments, as reported in our balance sheet, at June 30, 2015 and December 31, 2014: Fair Value of Derivatives Not Qualifying as Hedging Instruments (In millions) Description Balance Sheet Location June 30, December 31, Commodity contracts Current assets: Fair value of derivative contracts $ 6.8 $ 12.1 Gains or losses related to changes in fair value and cash settlements for derivatives not qualifying as hedging instruments are recorded as derivative income (expense) in the statement of operations. The following table discloses the before tax effect of our derivatives not qualifying as hedging instruments on the statement of operations, for the three and six months ended June 30, 2015 and 2014. Amount of Gain (Loss) Recognized in Derivative Income (Expense) (In millions) Three Months Ended June 30, Six Months Ended June 30, Description 2015 2014 2015 2014 Commodity contracts: Cash settlements $ 4.1 $ — $ 7.2 $ — Change in fair value (4.4 ) (1.5 ) (5.3 ) (1.5 ) Total gains (losses) on non-qualifying hedges ($ 0.3 ) ($ 1.5 ) $ 1.9 ($ 1.5 ) 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, 2015 and December 31, 2014, all of our derivative contracts were in an asset position and therefore, there was no potential impact of the rights of offset.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Note 4 – Long-Term Debt Long-term debt consisted of the following at: June 30, 2015 December 31, (In millions) 1 3 4 $ 273.4 $ 266.0 7 1 2 775.0 775.0 Bank debt — — Total long-term debt $ 1,048.4 $ 1,041.0 Bank Debt. The borrowing base under the bank credit facility is redetermined semi-annually, typically in May and November, by the lenders, taking into consideration the estimated loan value of our oil and gas properties and those of our subsidiaries that guarantee the bank credit facility in accordance with the lenders’ customary practices for oil and gas loans. In addition, we and the lenders each have discretion at any time, but not more than two additional times in any calendar year, to have the borrowing base redetermined. If a reduction in our borrowing base were to fall below any outstanding balances under the bank credit facility plus any outstanding letters of credit, our agreement with the banks allows us one or more of three options to cure the borrowing base deficiency. We may (1) repay amounts outstanding sufficient to cure the deficiency within 10 days after our written election to do so; (2) add additional oil and gas properties acceptable to the banks to the borrowing base and take such actions necessary to grant the banks a mortgage in the properties within 30 days after our written election to do so; and/or (3) arrange to pay the deficiency in six equal monthly installments. The bank credit facility is collateralized by substantially all of the assets of Stone and its material subsidiaries. They are required to mortgage, and grant a security interest in, their oil and natural gas reserves representing at least 80% of the discounted present value of the future net cash flows from their proved oil and natural gas reserves reviewed in determining the borrowing base. Interest on loans under the bank credit facility is calculated using the London Interbank Offering (“LIBOR”) rate or the base rate, at the election of Stone. The margin for loans at the LIBOR rate is determined based on borrowing base utilization and ranges from 1.500% to 2.500%. The bank credit facility provides for optional and mandatory prepayments and affirmative and negative covenants, including interest coverage ratio and leverage ratio maintenance covenants. We were in compliance with all covenants as of June 30, 2015. 2017 Convertible Notes. In connection with the offering, we entered into convertible note hedge transactions with respect to our common stock (the “Purchased Call Options”) with Barclays Capital Inc., acting as agent for Barclays Bank PLC and Bank of America, N.A. (the “Dealers”). We paid an aggregate amount of approximately $70.8 million to the Dealers for the Purchased Call Options. The Purchased Call Options cover, subject to customary antidilution adjustments, approximately 7,033,470 shares of our common stock at a strike price that corresponds to the initial conversion price of the 2017 Convertible Notes, also subject to adjustment, and are exercisable upon conversion of the 2017 Convertible Notes. We also entered into separate warrant transactions whereby, in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act, we sold to the Dealers warrants to acquire, subject to customary antidilution adjustments, approximately 7,033,470 shares of our common stock (the “Sold Warrants”) at a strike price of $55.91 per share of our common stock. We received aggregate proceeds of approximately $40.1 million from the sale of the Sold Warrants to the Dealers. If, upon expiration of the Sold Warrants, the price per share of our common stock, as measured under the Sold Warrants, is greater than the strike price of the Sold Warrants, we will be required to issue, without further consideration, under each Sold Warrant a number of shares of our common stock with a value equal to the amount of such difference. As of June 30, 2015, the carrying amount of the liability component of the 2017 Convertible Notes was $273.4 million. 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 months ended June 30, 2014, we recognized $3.5 million and $6.8 million, respectively, of interest expense for the amortization of the discount and $0.3 million and $0.6 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 $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 months ended June 30, 2014, 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, 2015
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Note 5 – Asset Retirement Obligations The change in our asset retirement obligations during the six months ended June 30, 2015 is set forth below: Six Months Ended June 30, 2015 (In millions) Asset retirement obligations as of the beginning of the period, including current portion $ 316.4 Liabilities incurred 3.5 Liabilities settled (35.9 ) Accretion expense 12.8 Asset retirement obligations as of the end of the period, including current portion $ 296.8

Divestitures

Divestitures	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Divestitures	Note 6 – Divestitures On July 31, 2014, we completed the sale of certain of our non-core properties in the GOM conventional shelf for cash consideration of approximately $177.6 million, after giving effect to preliminary purchase price adjustments. All of the proceeds from this sale were deposited with a Qualified Intermediary (under the terms of a Qualified Trust Agreement and Exchange Agreement) for potential reinvestment in like-kind replacement property as defined under Section 1031 of the Internal Revenue Code and were included in our balance sheet as restricted cash at December 31, 2014. Compliance with provisions under the Qualified Trust Agreement and Exchange Agreement provided for deferral of taxable gain on these sales proceeds. We identified qualified replacement properties and had until January 27, 2015 to close on an acquisition of such properties in order to achieve deferral of our taxable gain. We did not close on such a transaction by January 27, 2015, and the funds were released from restrictions and reclassified to cash and cash equivalents at such date.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7 – 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, 2015 and December 31, 2014, we held certain financial assets and liabilities that are required to be measured at fair value on a recurring basis, including our commodity derivative instruments and our investments in marketable securities. We utilize the services of an independent third party to assist us in valuing our derivative instruments. We used the income approach in determining the fair value of our derivative instruments utilizing a proprietary pricing model. The model accounts for our credit risk and the credit risk of our counterparties in the discount rate applied to estimated future cash inflows and outflows. Our swap contracts are included within the Level 2 fair value hierarchy. For a more detailed description of our derivative instruments, see Note 3 – Derivative Instruments and Hedging Activities The following tables present our assets and liabilities that are measured at fair value on a recurring basis at June 30, 2015: Fair Value Measurements at June 30, 2015 Assets Total Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) (In millions) Marketable securities (Other assets) $ 8.8 $ 8.8 $ — $ — Derivative contracts 82.6 — 82.6 — Total $ 91.4 $ 8.8 $ 82.6 $ — Fair Value Measurements at June 30, 2015 Liabilities Total Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In millions) Derivative contracts $ — $ — $ — $ — Total $ — $ — $ — $ — The following tables present our assets and liabilities that are measured at fair value on a recurring basis at December 31, 2014: Fair Value Measurements at December 31, 2014 Assets Total Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) (In millions) Marketable securities (Other assets) $ 8.4 $ 8.4 $ — $ — Derivative contracts 153.5 — 153.5 — Total $ 161.9 $ 8.4 $ 153.5 $ — Fair Value Measurements at December 31, 2014 Liabilities Total Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) (In millions) Derivative contracts $ — $ — $ — $ — Total $ — $ — $ — $ — The fair value of cash and cash equivalents approximated book value at June 30, 2015 and December 31, 2014. As of June 30, 2015 and December 31, 2014, the fair value of the liability component of the 2017 Convertible Notes was approximately $264.9 million and $252.6 million, respectively. As of June 30, 2015 and December 31, 2014, the fair value of the 7 1 2 The fair value of the 2022 Notes was determined based on quotes obtained from brokers, which represent Level 1 inputs. We applied fair value concepts in determining the liability component of the 2017 Convertible Notes (see Note 4 – Long-Term Debt

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 8 – Accumulated Other Comprehensive Income (Loss) 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 Foreign Total For the 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/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 For the 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/gas production 67.2 — 67.2 Income tax effect (24.1 ) — (24.1 ) Net of tax 43.1 — 43.1 Other comprehensive income (loss), net of tax (40.3 ) (2.3 ) (42.6 ) Ending balance, net of tax $ 46.5 ($ 5.8 ) $ 40.7 Changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2014, were as follows (in millions): Cash Flow Foreign Total For the Three Months Ended June 30, 2014 Beginning balance, net of tax ($ 8.0 ) ($ 1.2 ) ($ 9.2 ) Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives (26.0 ) — (26.0 ) Foreign currency translations — 0.8 0.8 Income tax effect 9.4 — 9.4 Net of tax (16.6 ) 0.8 (15.8 ) Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/gas production (9.2 ) — (9.2 ) Derivative expense, net (1.5 ) — (1.5 ) Income tax effect 3.9 — 3.9 Net of tax (6.8 ) — (6.8 ) Other comprehensive income (loss), net of tax (9.8 ) 0.8 (9.0 ) Ending balance, net of tax ($ 17.8 ) ($ 0.4 ) ($ 18.2 ) Cash Flow Foreign Total For the Six Months Ended June 30, 2014 Beginning balance, net of tax ($ 1.4 ) ($ 0.7 ) ($ 2.1 ) Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives (43.4 ) — (43.4 ) Foreign currency translations — 0.3 0.3 Income tax effect 15.7 — 15.7 Net of tax (27.7 ) 0.3 (27.4 ) Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/gas production (16.3 ) — (16.3 ) Derivative expense, net (1.5 ) — (1.5 ) Income tax effect 6.5 — 6.5 Net of tax (11.3 ) — (11.3 ) Other comprehensive income (loss), net of tax (16.4 ) 0.3 (16.1 ) Ending balance, net of tax ($ 17.8 ) ($ 0.4 ) ($ 18.2 )

Investment in Oil and Gas Prope

Investment in Oil and Gas Properties	6 Months Ended
	Jun. 30, 2015
Extractive Industries [Abstract]
Investment in Oil and Gas Properties	Note 9 – 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, 2015, our ceiling test computation resulted in a write-down of our U.S. oil and gas properties of $179.1 million based on twelve month average prices, net of applicable differentials, of $68.68 per barrel of oil, $2.47 per Mcf of natural gas and $29.13 per barrel of natural gas liquids (“NGLs”). The write-down at June 30, 2015 was decreased by $47.8 million as a result of hedges. At March 31, 2015, our ceiling test computation resulted in a write-down of our U.S. oil and gas properties of $491.4 million based on twelve month average prices, net of applicable differentials, of $78.99 per barrel of oil, $2.96 per Mcf of natural gas and $28.82 per barrel of NGLs. The write-down at March 31, 2015 was decreased by $28.7 million as a result of hedges. In April 2013, we entered into an agreement to participate in the drilling of exploratory wells in Canada. Upon a more complete evaluation of this project and in response to the significant decline in commodity prices over the last several months, we have suspended our business development effort in Canada. Accordingly, at June 30, 2015, we recognized a write-down of our Canadian oil and gas properties of $45.2 million.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10 – Commitments and Contingencies We are named as a party in certain lawsuits and regulatory proceedings arising in the ordinary course of business. We do not expect that these matters, individually or in the aggregate, will have a material adverse effect on our financial condition. On August 2, 2013, Kimmeridge Energy Exploration Fund, L.P. (“Kimmeridge”) filed a lawsuit against Stone in the 15 th

Guarantor Financial Statements

Guarantor Financial Statements	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Guarantor Financial Statements	Note 11 – Guarantor Financial Statements Our Guarantor Subsidiaries, 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, 2015 and December 31, 2014 and for the three and six month periods ended June 30, 2015 and 2014 on an issuer (parent company), Guarantor Subsidiaries, Non-Guarantor Subsidiaries and consolidated basis. Elimination entries presented are necessary to combine the entities. CONDENSED CONSOLIDATING BALANCE SHEET JUNE 30, 2015 (In thousands) Parent Guarantor Non- Guarantor Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 116,427 $ 25,034 $ 194 $ — $ 141,655 Accounts receivable 38,735 243,846 31 (213,906 ) 68,706 Fair value of derivative contracts — 74,319 — — 74,319 Current income tax receivable 6 — — — 6 Inventory 3,426 283 — — 3,709 Other current assets 10,007 — 69 — 10,076 Total current assets 168,601 343,482 294 (213,906 ) 298,471 Oil and gas properties, full cost method: Proved 1,778,480 7,251,498 44,447 — 9,074,425 Less: accumulated DD&A (1,724,404 ) (6,077,492 ) (44,447 ) — (7,846,343 ) Net proved oil and gas properties 54,076 1,174,006 — — 1,228,082 Unevaluated 300,360 227,067 2,162 — 529,589 Other property and equipment, net 30,736 — — — 30,736 Fair value of derivative contracts — 8,231 — — 8,231 Deferred taxes * — — 16,266 (16,266 ) — Other assets, net 25,149 1,385 1,548 — 28,082 Investment in subsidiary 1,057,810 — 20,083 (1,077,893 ) — Total assets $ 1,636,732 $ 1,754,171 $ 40,353 ($ 1,308,065 ) $ 2,123,191 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 56,763 $ 216,834 $ 9,732 ($ 213,906 ) $ 69,423 Undistributed oil and gas proceeds 16,093 907 — — 17,000 Accrued interest 9,027 — — — 9,027 Deferred taxes * 298 6,767 — — 7,065 Asset retirement obligations — 56,176 — — 56,176 Other current liabilities 46,724 56 — — 46,780 Total current liabilities 128,905 280,740 9,732 (213,906 ) 205,471 Long-term debt 1,048,406 — — — 1,048,406 Deferred taxes * (161,285 ) 189,303 — (16,266 ) 11,752 Asset retirement obligations 3,757 236,856 — — 240,613 Other long-term liabilities 32,213 — — — 32,213 Total liabilities 1,051,996 706,899 9,732 (230,172 ) 1,538,455 Commitments and contingencies Stockholders’ equity: Common stock 553 — — — 553 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,639,389 1,367,434 100,023 (1,467,457 ) 1,639,389 Accumulated deficit (1,095,002 ) (366,607 ) (57,824 ) 424,431 (1,095,002 ) Accumulated other comprehensive income (loss) 40,656 46,445 (11,578 ) (34,867 ) 40,656 Total stockholders’ equity 584,736 1,047,272 30,621 (1,077,893 ) 584,736 Total liabilities and stockholders’ equity $ 1,636,732 $ 1,754,171 $ 40,353 ($ 1,308,065 ) $ 2,123,191 * Deferred income taxes have been allocated to our Guarantor Subsidiaries where related oil and gas properties reside. CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2014 (In thousands) Parent Guarantor Non- Guarantor Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 72,886 $ 1,450 $ 152 $ — $ 74,488 Restricted cash 177,647 — — — 177,647 Accounts receivable 73,711 46,615 33 — 120,359 Fair value of derivative contracts — 139,179 — — 139,179 Current income tax receivable 7,212 — — — 7,212 Deferred taxes * 4,095 — — (4,095 ) — Inventory 1,011 2,698 — — 3,709 Other current assets 8,112 — 6 — 8,118 Total current assets 344,674 189,942 191 (4,095 ) 530,712 Oil and gas properties, full cost method: Proved 1,689,802 7,127,466 — — 8,817,268 Less: accumulated DD&A (970,387 ) (6,000,244 ) — — (6,970,631 ) Net proved oil and gas properties 719,415 1,127,222 — — 1,846,637 Unevaluated 289,556 241,230 36,579 — 567,365 Other property and equipment, net 32,340 — — — 32,340 Fair value of derivative contracts — 14,333 — — 14,333 Other assets, net 20,857 1,360 5,007 — 27,224 Investment in subsidiary 1,050,546 — 41,638 (1,092,184 ) — Total assets $ 2,457,388 $ 1,574,087 $ 83,415 ($ 1,096,279 ) $ 3,018,611 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 74,756 $ 57,873 $ — $ — $ 132,629 Undistributed oil and gas proceeds 22,158 1,074 — — 23,232 Accrued interest 9,022 — — — 9,022 Deferred taxes * — 24,214 — (4,095 ) 20,119 Asset retirement obligations — 69,400 — — 69,400 Other current liabilities 49,306 199 — — 49,505 Total current liabilities 155,242 152,760 — (4,095 ) 303,907 Long-term debt 1,041,035 — — — 1,041,035 Deferred taxes * 117,206 169,137 — — 286,343 Asset retirement obligations 3,588 243,421 — — 247,009 Other long-term liabilities 38,714 — — — 38,714 Total liabilities 1,355,785 565,318 — (4,095 ) 1,917,008 Commitments and contingencies Stockholders’ equity: Common stock 549 — — — 549 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,633,307 1,362,684 90,339 (1,453,023 ) 1,633,307 Accumulated earnings (deficit) (614,708 ) (440,699 ) 12 440,687 (614,708 ) Accumulated other comprehensive income (loss) 83,315 86,784 (6,936 ) (79,848 ) 83,315 Total stockholders’ equity 1,101,603 1,008,769 83,415 (1,092,184 ) 1,101,603 Total liabilities and stockholders’ equity $ 2,457,388 $ 1,574,087 $ 83,415 ($ 1,096,279 ) $ 3,018,611 * Deferred income taxes have been allocated to our Guarantor Subsidiaries where related oil and gas properties reside. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED 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, 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 16,398 — 20 — 16,418 Incentive compensation expense 1,264 — — — 1,264 Other operational expense 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 THREE MONTHS ENDED JUNE 30, 2014 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 5,854 $ 136,539 $ — $ — $ 142,393 Natural gas production 20,800 25,867 — — 46,667 Natural gas liquids production 10,219 5,717 — — 15,936 Other operational income 1,880 170 — — 2,050 Total operating revenue 38,753 168,293 — — 207,046 Operating expenses: Lease operating expenses 5,046 44,408 — — 49,454 Transportation, processing and gathering expenses 10,456 3,642 — — 14,098 Production taxes 1,903 1,354 — — 3,257 Depreciation, depletion, amortization 30,385 62,450 — — 92,835 Accretion expense 61 7,672 — — 7,733 Salaries, general and administrative 16,639 — (2 ) — 16,637 Incentive compensation expense 3,903 — — — 3,903 Derivative expense, net — 2,516 — — 2,516 Total operating expenses 68,393 122,042 (2 ) — 190,433 Income (loss) from operations (29,640 ) 46,251 2 — 16,613 Other (income) expenses: Interest expense 9,880 33 — — 9,913 Interest income (146 ) (41 ) (6 ) — (193 ) Other income (192 ) (530 ) — — (722 ) Other expense 179 — — — 179 Income from investment in subsidiaries (29,947 ) — (8 ) 29,955 — Total other (income) expenses (20,226 ) (538 ) (14 ) 29,955 9,177 Income (loss) before taxes (9,414 ) 46,789 16 (29,955 ) 7,436 Provision (benefit) for income taxes: Deferred (13,858 ) 16,850 — — 2,992 Total income taxes (13,858 ) 16,850 — — 2,992 Net income $ 4,444 $ 29,939 $ 16 ($ 29,955 ) $ 4,444 Comprehensive income (loss) ($ 4,566 ) $ 29,939 $ 16 ($ 29,955 ) ($ 4,566 ) 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, 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 33,399 1 25 — 33,425 Incentive compensation expense 2,827 — — — 2,827 Other operational expense 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 OPERATIONS SIX MONTHS ENDED JUNE 30, 2014 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 12,490 $ 268,192 $ — $ — $ 280,682 Gas production 49,639 53,390 — — 103,029 Natural gas liquids production 28,473 15,433 — — 43,906 Other operational income 2,704 343 — — 3,047 Total operating revenue 93,306 337,358 — — 430,664 Operating expenses: Lease operating expenses 9,059 87,298 — — 96,357 Transportation, processing and gathering expenses 20,773 7,951 — — 28,724 Production taxes 3,584 2,735 — — 6,319 Depreciation, depletion, amortization 58,440 117,041 — — 175,481 Accretion expense 129 15,159 — — 15,288 Salaries, general and administrative 32,964 2 — — 32,966 Incentive compensation expense 7,037 — — — 7,037 Other operational expenses 176 36 — — 212 Derivative expense, net — 3,115 — — 3,115 Total operating expenses 132,162 233,337 — — 365,499 Income (loss) from operations (38,856 ) 104,021 — — 65,165 Other (income) expenses: Interest expense 18,233 37 — — 18,270 Interest income (225 ) (99 ) (12 ) — (336 ) Other income (373 ) (1,056 ) — — (1,429 ) Other expense 179 — — — 179 Income from investment in subsidiaries (67,292 ) — (12 ) 67,304 — Total other (income) expenses (49,478 ) (1,118 ) (24 ) 67,304 16,684 Income before taxes 10,622 105,139 24 (67,304 ) 48,481 Provision (benefit) for income taxes: Deferred (19,765 ) 37,859 — — 18,094 Total income taxes (19,765 ) 37,859 — — 18,094 Net income $ 30,387 $ 67,280 $ 24 ($ 67,304 ) $ 30,387 Comprehensive income $ 14,288 $ 67,280 $ 24 ($ 67,304 ) $ 14,288 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2015 (In thousands) Parent Guarantor Non-Guarantor 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 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2014 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income $ 30,387 $ 67,280 $ 24 ($ 67,304 ) $ 30,387 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, depletion and amortization 58,440 117,041 — — 175,481 Accretion expense 129 15,159 — — 15,288 Deferred income tax (benefit) provision (19,765 ) 37,859 — — 18,094 Settlement of asset retirement obligations (82 ) (24,833 ) — — (24,915 ) Non-cash stock compensation expense 5,358 — — — 5,358 Non-cash derivative expense — 2,697 — — 2,697 Non-cash interest expense 8,229 — — — 8,229 Change in current income taxes (6 ) — — — (6 ) Non-cash income from investment in subsidiaries (67,292 ) — (12 ) 67,304 — Change in intercompany receivables/payables (126,526 ) 114,841 11,685 — — (Increase) decrease in accounts receivable (42,216 ) 16,692 — — (25,524 ) Increase in other current assets (82 ) — — — (82 ) Increase (decrease) in accounts payable 2,052 (209 ) — — 1,843 Increase in other current liabilities 48,987 1,798 — — 50,785 Other 381 (1,056 ) — — (675 ) Net cash (used in) provided by operating activities (102,006 ) 347,269 11,697 — 256,960 Cash flows from investing activities: Investment in oil and gas properties (121,836 ) (384,349 ) (11,719 ) — (517,904 ) Proceeds from sale of oil and gas properties, net of expenses 9,777 42,178 — — 51,955 Investment in fixed and other assets (3,896 ) — — — (3,896 ) Change in restricted funds — — (356 ) — (356 ) Investment in subsidiaries — — (12,176 ) 12,176 — Net cash used in investing activities (115,955 ) (342,171 ) (24,251 ) 12,176 (470,201 ) Cash flows from financing activities: Net proceeds from issuance of common stock 226,036 — — — 226,036 Deferred financing costs (3,167 ) — — — (3,167 ) Equity proceeds from parent — — 12,176 (12,176 ) — Net payments for share-based compensation (6,948 ) — — — (6,948 ) Net cash provided by financing activities 215,921 — 12,176 (12,176 ) 215,921 Effect of exchange rate on cash — — (18 ) — (18 ) Net change in cash and cash equivalents (2,040 ) 5,098 (396 ) — 2,662 Cash and cash equivalents, beginning of period 246,294 84,290 640 — 331,224 Cash and cash equivalents, end of period $ 244,254 $ 89,388 $ 244 $ — $ 333,886

Earnings Per Share (Policies)

Earnings Per Share (Policies)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earning Per Share	Because it is management’s stated intention to redeem the principal amount of our 1 3 4 Note 4 – Long-Term Debt Note 4 – Long-Term Debt Note 4 – Long-Term Debt
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 gas production and cash flows from operating activities. Instruments not qualifying as hedging instruments are recorded in our balance sheet at fair value, and 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, 2015
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Weighted Average Shares Outstanding Earnings Per Share	The following table sets forth the calculation of basic and diluted weighted average shares outstanding and earnings per share for the indicated periods: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands, except per share data) Income (numerator): Basic: Net income (loss) ($ 152,906 ) $ 4,444 ($ 480,294 ) $ 30,387 Net income attributable to participating securities — (111 ) — (698 ) Net income (loss) attributable to common stock - basic ($ 152,906 ) $ 4,333 ($ 480,294 ) $ 29,689 Diluted: Net income (loss) ($ 152,906 ) $ 4,444 ($ 480,294 ) $ 30,387 Net income attributable to participating securities — (111 ) — (697 ) Net income (loss) attributable to common stock - diluted ($ 152,906 ) $ 4,333 ($ 480,294 ) $ 29,690 Weighted average shares (denominator): Weighted average shares - basic 55,251 52,050 55,216 50,540 Dilutive effect of stock options — 58 — 54 Dilutive effect of convertible notes — 265 — 133 Weighted average shares - diluted 55,251 52,373 55,216 50,727 Basic earnings (loss) per share ($ 2.77 ) $ 0.08 ($ 8.70 ) $ 0.59 Diluted earnings (loss) per share ($ 2.77 ) $ 0.08 ($ 8.70 ) $ 0.59

Derivative Instruments and He20

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Positions	The following table illustrates our derivative positions for calendar years 2015 and 2016 as of August 5, 2015: Fixed-Price Swaps (NYMEX) Natural Gas Oil Daily Volume Swap Price Daily Volume (Bbls/d) Swap Price ($) 2015 10,000 4.005 1,000 89.00 2015 10,000 4.120 1,000 90.00 2015 10,000 4.150 1,000 90.25 2015 10,000 4.165 1,000 90.40 2015 10,000 4.220 1,000 91.05 2015 10,000 4.255 1,000 93.28 2015 1,000 93.37 2015 1,000 94.85 2015 1,000 95.00 2016 10,000 4.110 1,000 90.00 2016 10,000 4.120
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, 2015 and December 31, 2014: Fair Value of Derivatives Qualifying as Hedging Instruments at June 30, 2015 (In millions) Asset Derivatives Liability Derivatives Description Balance Sheet Location Fair Value Balance Sheet Location Fair Commodity contracts Current assets: Fair value of $ 67.5 Current liabilities: Fair value $ — Long-term assets: Fair value 8.2 Long-term liabilities: Fair — $ 75.7 $ — Fair Value of Derivatives Qualifying as Hedging Instruments at December 31, 2014 (In millions) Asset Derivatives Liability Derivatives Description Balance Sheet Location Fair Balance Sheet Location Fair Commodity contracts Current assets: Fair value of $ 127.0 Current liabilities: Fair value $ — Long-term assets: Fair value 14.3 Long-term liabilities: Fair — $ 141.3 $ —
Before Tax Effect of Derivative Instruments in Statement of Operations	The following tables disclose the before tax effect of derivatives qualifying as hedging instruments, as reported in the statement of operations, for the three and six months ended June 30, 2015 and 2014: Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Three Months Ended June 30, 2015 and 2014 (In millions) Derivatives in Cash Flow Hedging Relationships Amount of Gain Gain (Loss) Reclassified from Accumulated Other Comprehensive (Effective Portion) (a) Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion) 2015 2014 Location 2015 2014 Location 2015 2014 Commodity contracts ($ 18.8 ) ($ 26.0 ) Operating revenue - $ 30.4 ($ 9.2 ) Derivative income (expense), net ($ 0.4 ) ($ 1.0 ) Total ($ 18.8 ) ($ 26.0 ) $ 30.4 ($ 9.2 ) ($ 0.4 ) ($ 1.0 ) (a) For the three months ended June 30, 2015, effective hedging contracts increased oil revenue by $26.4 million and increased gas revenue by $4.0 million. For the three months ended June 30, 2014, effective hedging contracts decreased oil revenue by $6.1 million and decreased gas revenue by $3.1 million. Effect of Derivatives Qualifying as Hedging Instruments on the Statement of Operations for the Six Months Ended June 30, 2015 and 2014 (In millions) Derivatives in Cash Flow Hedging Relationships Amount of Gain Gain (Loss) Reclassified from Accumulated Other Comprehensive (Effective Portion) (a) Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion) 2015 2014 Location 2015 2014 Location 2015 2014 Commodity contracts $ 4.1 ($ 43.4 ) Operating revenue - oil/gas production $ 67.2 ($ 16.3 ) Derivative income (expense), net $ 0.5 ($ 1.6 ) Total $ 4.1 ($ 43.4 ) $ 67.2 ($ 16.3 ) $ 0.5 ($ 1.6 ) (a) For the six months ended June 30, 2015, effective hedging contracts increased oil revenue by $60.4 million and increased gas revenue by $6.8 million. For the six months ended June 30, 2014, effective hedging contracts decreased oil revenue by $8.6 million and decreased gas revenue by $7.7 million.
Location and Fair Value Amounts of Derivative Instruments Not Qualifying as Hedging Instruments Reported in Balance Sheet	The following table discloses the location and fair value amounts of our derivatives not qualifying as hedging instruments, as reported in our balance sheet, at June 30, 2015 and December 31, 2014: Fair Value of Derivatives Not Qualifying as Hedging Instruments (In millions) Description Balance Sheet Location June 30, December 31, Commodity contracts Current assets: Fair value of derivative contracts $ 6.8 $ 12.1
Gains or Losses Related to Changes in Fair Value and Cash Settlements on Derivatives Not Qualifying as Hedging Instruments	Gains or losses related to changes in fair value and cash settlements for derivatives not qualifying as hedging instruments are recorded as derivative income (expense) in the statement of operations. The following table discloses the before tax effect of our derivatives not qualifying as hedging instruments on the statement of operations, for the three and six months ended June 30, 2015 and 2014. Amount of Gain (Loss) Recognized in Derivative Income (Expense) (In millions) Three Months Ended June 30, Six Months Ended June 30, Description 2015 2014 2015 2014 Commodity contracts: Cash settlements $ 4.1 $ — $ 7.2 $ — Change in fair value (4.4 ) (1.5 ) (5.3 ) (1.5 ) Total gains (losses) on non-qualifying hedges ($ 0.3 ) ($ 1.5 ) $ 1.9 ($ 1.5 )

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consisted of the following at: June 30, 2015 December 31, (In millions) 1 3 4 $ 273.4 $ 266.0 7 1 2 775.0 775.0 Bank debt — — Total long-term debt $ 1,048.4 $ 1,041.0

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2015
Asset Retirement Obligation Disclosure [Abstract]
Changes in Asset Retirement Obligations	The change in our asset retirement obligations during the six months ended June 30, 2015 is set forth below: Six Months Ended June 30, 2015 (In millions) Asset retirement obligations as of the beginning of the period, including current portion $ 316.4 Liabilities incurred 3.5 Liabilities settled (35.9 ) Accretion expense 12.8 Asset retirement obligations as of the end of the period, including current portion $ 296.8

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value Recurring Basis	The following tables present our assets and liabilities that are measured at fair value on a recurring basis at June 30, 2015: Fair Value Measurements at June 30, 2015 Assets Total Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) (In millions) Marketable securities (Other assets) $ 8.8 $ 8.8 $ — $ — Derivative contracts 82.6 — 82.6 — Total $ 91.4 $ 8.8 $ 82.6 $ — Fair Value Measurements at June 30, 2015 Liabilities Total Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In millions) Derivative contracts $ — $ — $ — $ — Total $ — $ — $ — $ — The following tables present our assets and liabilities that are measured at fair value on a recurring basis at December 31, 2014: Fair Value Measurements at December 31, 2014 Assets Total Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) (In millions) Marketable securities (Other assets) $ 8.4 $ 8.4 $ — $ — Derivative contracts 153.5 — 153.5 — Total $ 161.9 $ 8.4 $ 153.5 $ — Fair Value Measurements at December 31, 2014 Liabilities Total Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) (In millions) Derivative contracts $ — $ — $ — $ — Total $ — $ — $ — $ —

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income Loss	Changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2015 were as follows (in millions): Cash Flow Foreign Total For the 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/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 For the 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/gas production 67.2 — 67.2 Income tax effect (24.1 ) — (24.1 ) Net of tax 43.1 — 43.1 Other comprehensive income (loss), net of tax (40.3 ) (2.3 ) (42.6 ) Ending balance, net of tax $ 46.5 ($ 5.8 ) $ 40.7 Changes in accumulated other comprehensive income (loss) by component for the three and six months ended June 30, 2014, were as follows (in millions): Cash Flow Foreign Total For the Three Months Ended June 30, 2014 Beginning balance, net of tax ($ 8.0 ) ($ 1.2 ) ($ 9.2 ) Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives (26.0 ) — (26.0 ) Foreign currency translations — 0.8 0.8 Income tax effect 9.4 — 9.4 Net of tax (16.6 ) 0.8 (15.8 ) Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/gas production (9.2 ) — (9.2 ) Derivative expense, net (1.5 ) — (1.5 ) Income tax effect 3.9 — 3.9 Net of tax (6.8 ) — (6.8 ) Other comprehensive income (loss), net of tax (9.8 ) 0.8 (9.0 ) Ending balance, net of tax ($ 17.8 ) ($ 0.4 ) ($ 18.2 ) Cash Flow Foreign Total For the Six Months Ended June 30, 2014 Beginning balance, net of tax ($ 1.4 ) ($ 0.7 ) ($ 2.1 ) Other comprehensive income (loss) before reclassifications: Change in fair value of derivatives (43.4 ) — (43.4 ) Foreign currency translations — 0.3 0.3 Income tax effect 15.7 — 15.7 Net of tax (27.7 ) 0.3 (27.4 ) Amounts reclassified from accumulated other comprehensive income: Operating revenue: oil/gas production (16.3 ) — (16.3 ) Derivative expense, net (1.5 ) — (1.5 ) Income tax effect 6.5 — 6.5 Net of tax (11.3 ) — (11.3 ) Other comprehensive income (loss), net of tax (16.4 ) 0.3 (16.1 ) Ending balance, net of tax ($ 17.8 ) ($ 0.4 ) ($ 18.2 )

Guarantor Financial Statements

Guarantor Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET JUNE 30, 2015 (In thousands) Parent Guarantor Non- Guarantor Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 116,427 $ 25,034 $ 194 $ — $ 141,655 Accounts receivable 38,735 243,846 31 (213,906 ) 68,706 Fair value of derivative contracts — 74,319 — — 74,319 Current income tax receivable 6 — — — 6 Inventory 3,426 283 — — 3,709 Other current assets 10,007 — 69 — 10,076 Total current assets 168,601 343,482 294 (213,906 ) 298,471 Oil and gas properties, full cost method: Proved 1,778,480 7,251,498 44,447 — 9,074,425 Less: accumulated DD&A (1,724,404 ) (6,077,492 ) (44,447 ) — (7,846,343 ) Net proved oil and gas properties 54,076 1,174,006 — — 1,228,082 Unevaluated 300,360 227,067 2,162 — 529,589 Other property and equipment, net 30,736 — — — 30,736 Fair value of derivative contracts — 8,231 — — 8,231 Deferred taxes * — — 16,266 (16,266 ) — Other assets, net 25,149 1,385 1,548 — 28,082 Investment in subsidiary 1,057,810 — 20,083 (1,077,893 ) — Total assets $ 1,636,732 $ 1,754,171 $ 40,353 ($ 1,308,065 ) $ 2,123,191 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 56,763 $ 216,834 $ 9,732 ($ 213,906 ) $ 69,423 Undistributed oil and gas proceeds 16,093 907 — — 17,000 Accrued interest 9,027 — — — 9,027 Deferred taxes * 298 6,767 — — 7,065 Asset retirement obligations — 56,176 — — 56,176 Other current liabilities 46,724 56 — — 46,780 Total current liabilities 128,905 280,740 9,732 (213,906 ) 205,471 Long-term debt 1,048,406 — — — 1,048,406 Deferred taxes * (161,285 ) 189,303 — (16,266 ) 11,752 Asset retirement obligations 3,757 236,856 — — 240,613 Other long-term liabilities 32,213 — — — 32,213 Total liabilities 1,051,996 706,899 9,732 (230,172 ) 1,538,455 Commitments and contingencies Stockholders’ equity: Common stock 553 — — — 553 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,639,389 1,367,434 100,023 (1,467,457 ) 1,639,389 Accumulated deficit (1,095,002 ) (366,607 ) (57,824 ) 424,431 (1,095,002 ) Accumulated other comprehensive income (loss) 40,656 46,445 (11,578 ) (34,867 ) 40,656 Total stockholders’ equity 584,736 1,047,272 30,621 (1,077,893 ) 584,736 Total liabilities and stockholders’ equity $ 1,636,732 $ 1,754,171 $ 40,353 ($ 1,308,065 ) $ 2,123,191 * Deferred income taxes have been allocated to our Guarantor Subsidiaries where related oil and gas properties reside. CONDENSED CONSOLIDATING BALANCE SHEET DECEMBER 31, 2014 (In thousands) Parent Guarantor Non- Guarantor Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 72,886 $ 1,450 $ 152 $ — $ 74,488 Restricted cash 177,647 — — — 177,647 Accounts receivable 73,711 46,615 33 — 120,359 Fair value of derivative contracts — 139,179 — — 139,179 Current income tax receivable 7,212 — — — 7,212 Deferred taxes * 4,095 — — (4,095 ) — Inventory 1,011 2,698 — — 3,709 Other current assets 8,112 — 6 — 8,118 Total current assets 344,674 189,942 191 (4,095 ) 530,712 Oil and gas properties, full cost method: Proved 1,689,802 7,127,466 — — 8,817,268 Less: accumulated DD&A (970,387 ) (6,000,244 ) — — (6,970,631 ) Net proved oil and gas properties 719,415 1,127,222 — — 1,846,637 Unevaluated 289,556 241,230 36,579 — 567,365 Other property and equipment, net 32,340 — — — 32,340 Fair value of derivative contracts — 14,333 — — 14,333 Other assets, net 20,857 1,360 5,007 — 27,224 Investment in subsidiary 1,050,546 — 41,638 (1,092,184 ) — Total assets $ 2,457,388 $ 1,574,087 $ 83,415 ($ 1,096,279 ) $ 3,018,611 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable to vendors $ 74,756 $ 57,873 $ — $ — $ 132,629 Undistributed oil and gas proceeds 22,158 1,074 — — 23,232 Accrued interest 9,022 — — — 9,022 Deferred taxes * — 24,214 — (4,095 ) 20,119 Asset retirement obligations — 69,400 — — 69,400 Other current liabilities 49,306 199 — — 49,505 Total current liabilities 155,242 152,760 — (4,095 ) 303,907 Long-term debt 1,041,035 — — — 1,041,035 Deferred taxes * 117,206 169,137 — — 286,343 Asset retirement obligations 3,588 243,421 — — 247,009 Other long-term liabilities 38,714 — — — 38,714 Total liabilities 1,355,785 565,318 — (4,095 ) 1,917,008 Commitments and contingencies Stockholders’ equity: Common stock 549 — — — 549 Treasury stock (860 ) — — — (860 ) Additional paid-in capital 1,633,307 1,362,684 90,339 (1,453,023 ) 1,633,307 Accumulated earnings (deficit) (614,708 ) (440,699 ) 12 440,687 (614,708 ) Accumulated other comprehensive income (loss) 83,315 86,784 (6,936 ) (79,848 ) 83,315 Total stockholders’ equity 1,101,603 1,008,769 83,415 (1,092,184 ) 1,101,603 Total liabilities and stockholders’ equity $ 2,457,388 $ 1,574,087 $ 83,415 ($ 1,096,279 ) $ 3,018,611 * Deferred income taxes have been allocated to our Guarantor Subsidiaries where related oil and gas properties reside.
Condensed Consolidating Statement of Operations	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, 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 16,398 — 20 — 16,418 Incentive compensation expense 1,264 — — — 1,264 Other operational expense 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 THREE MONTHS ENDED JUNE 30, 2014 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 5,854 $ 136,539 $ — $ — $ 142,393 Natural gas production 20,800 25,867 — — 46,667 Natural gas liquids production 10,219 5,717 — — 15,936 Other operational income 1,880 170 — — 2,050 Total operating revenue 38,753 168,293 — — 207,046 Operating expenses: Lease operating expenses 5,046 44,408 — — 49,454 Transportation, processing and gathering expenses 10,456 3,642 — — 14,098 Production taxes 1,903 1,354 — — 3,257 Depreciation, depletion, amortization 30,385 62,450 — — 92,835 Accretion expense 61 7,672 — — 7,733 Salaries, general and administrative 16,639 — (2 ) — 16,637 Incentive compensation expense 3,903 — — — 3,903 Derivative expense, net — 2,516 — — 2,516 Total operating expenses 68,393 122,042 (2 ) — 190,433 Income (loss) from operations (29,640 ) 46,251 2 — 16,613 Other (income) expenses: Interest expense 9,880 33 — — 9,913 Interest income (146 ) (41 ) (6 ) — (193 ) Other income (192 ) (530 ) — — (722 ) Other expense 179 — — — 179 Income from investment in subsidiaries (29,947 ) — (8 ) 29,955 — Total other (income) expenses (20,226 ) (538 ) (14 ) 29,955 9,177 Income (loss) before taxes (9,414 ) 46,789 16 (29,955 ) 7,436 Provision (benefit) for income taxes: Deferred (13,858 ) 16,850 — — 2,992 Total income taxes (13,858 ) 16,850 — — 2,992 Net income $ 4,444 $ 29,939 $ 16 ($ 29,955 ) $ 4,444 Comprehensive income (loss) ($ 4,566 ) $ 29,939 $ 16 ($ 29,955 ) ($ 4,566 ) 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, 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 33,399 1 25 — 33,425 Incentive compensation expense 2,827 — — — 2,827 Other operational expense 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 OPERATIONS SIX MONTHS ENDED JUNE 30, 2014 (In thousands) Parent Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Consolidated Operating revenue: Oil production $ 12,490 $ 268,192 $ — $ — $ 280,682 Gas production 49,639 53,390 — — 103,029 Natural gas liquids production 28,473 15,433 — — 43,906 Other operational income 2,704 343 — — 3,047 Total operating revenue 93,306 337,358 — — 430,664 Operating expenses: Lease operating expenses 9,059 87,298 — — 96,357 Transportation, processing and gathering expenses 20,773 7,951 — — 28,724 Production taxes 3,584 2,735 — — 6,319 Depreciation, depletion, amortization 58,440 117,041 — — 175,481 Accretion expense 129 15,159 — — 15,288 Salaries, general and administrative 32,964 2 — — 32,966 Incentive compensation expense 7,037 — — — 7,037 Other operational expenses 176 36 — — 212 Derivative expense, net — 3,115 — — 3,115 Total operating expenses 132,162 233,337 — — 365,499 Income (loss) from operations (38,856 ) 104,021 — — 65,165 Other (income) expenses: Interest expense 18,233 37 — — 18,270 Interest income (225 ) (99 ) (12 ) — (336 ) Other income (373 ) (1,056 ) — — (1,429 ) Other expense 179 — — — 179 Income from investment in subsidiaries (67,292 ) — (12 ) 67,304 — Total other (income) expenses (49,478 ) (1,118 ) (24 ) 67,304 16,684 Income before taxes 10,622 105,139 24 (67,304 ) 48,481 Provision (benefit) for income taxes: Deferred (19,765 ) 37,859 — — 18,094 Total income taxes (19,765 ) 37,859 — — 18,094 Net income $ 30,387 $ 67,280 $ 24 ($ 67,304 ) $ 30,387 Comprehensive income $ 14,288 $ 67,280 $ 24 ($ 67,304 ) $ 14,288
Condensed Consolidating Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2015 (In thousands) Parent Guarantor Non-Guarantor 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 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2014 (In thousands) Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income $ 30,387 $ 67,280 $ 24 ($ 67,304 ) $ 30,387 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, depletion and amortization 58,440 117,041 — — 175,481 Accretion expense 129 15,159 — — 15,288 Deferred income tax (benefit) provision (19,765 ) 37,859 — — 18,094 Settlement of asset retirement obligations (82 ) (24,833 ) — — (24,915 ) Non-cash stock compensation expense 5,358 — — — 5,358 Non-cash derivative expense — 2,697 — — 2,697 Non-cash interest expense 8,229 — — — 8,229 Change in current income taxes (6 ) — — — (6 ) Non-cash income from investment in subsidiaries (67,292 ) — (12 ) 67,304 — Change in intercompany receivables/payables (126,526 ) 114,841 11,685 — — (Increase) decrease in accounts receivable (42,216 ) 16,692 — — (25,524 ) Increase in other current assets (82 ) — — — (82 ) Increase (decrease) in accounts payable 2,052 (209 ) — — 1,843 Increase in other current liabilities 48,987 1,798 — — 50,785 Other 381 (1,056 ) — — (675 ) Net cash (used in) provided by operating activities (102,006 ) 347,269 11,697 — 256,960 Cash flows from investing activities: Investment in oil and gas properties (121,836 ) (384,349 ) (11,719 ) — (517,904 ) Proceeds from sale of oil and gas properties, net of expenses 9,777 42,178 — — 51,955 Investment in fixed and other assets (3,896 ) — — — (3,896 ) Change in restricted funds — — (356 ) — (356 ) Investment in subsidiaries — — (12,176 ) 12,176 — Net cash used in investing activities (115,955 ) (342,171 ) (24,251 ) 12,176 (470,201 ) Cash flows from financing activities: Net proceeds from issuance of common stock 226,036 — — — 226,036 Deferred financing costs (3,167 ) — — — (3,167 ) Equity proceeds from parent — — 12,176 (12,176 ) — Net payments for share-based compensation (6,948 ) — — — (6,948 ) Net cash provided by financing activities 215,921 — 12,176 (12,176 ) 215,921 Effect of exchange rate on cash — — (18 ) — (18 ) Net change in cash and cash equivalents (2,040 ) 5,098 (396 ) — 2,662 Cash and cash equivalents, beginning of period 246,294 84,290 640 — 331,224 Cash and cash equivalents, end of period $ 244,254 $ 89,388 $ 244 $ — $ 333,886

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, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Basic:
Net income (loss)	$ (152,906)	$ 4,444	$ (480,294)	$ 30,387
Net income attributable to participating securities		(111)		(698)
Net income (loss) attributable to common stock - basic	(152,906)	4,333	(480,294)	29,689
Diluted:
Net income (loss)	(152,906)	4,444	(480,294)	30,387
Net income attributable to participating securities		(111)		(697)
Net income (loss) attributable to common stock - diluted	$ (152,906)	$ 4,333	$ (480,294)	$ 29,690
Weighted average shares (denominator):
Weighted average shares - basic	55,251	52,050	55,216	50,540
Dilutive effect of stock options		58		54
Dilutive effect of convertible notes		265		133
Weighted average shares - diluted	55,251	52,373	55,216	50,727
Basic earnings (loss) per share	$ (2.77)	$ 0.08	$ (8.70)	$ 0.59
Diluted earnings (loss) per share	$ (2.77)	$ 0.08	$ (8.70)	$ 0.59

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	1 Months Ended	3 Months Ended		6 Months Ended
	May. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Weighted Average Shares Used In Computing Earnings Per Share [Line Items]
Antidilutive stock options outstanding		174,000	120,000	174,000	131,000
Shares of common stock issued upon vesting of restricted stock		29,000	40,000	399,000	372,000
Common stock issued	5,750,000
Convertible Debt [Member] | 1.75% Senior Notes due 2017 [Member]
Weighted Average Shares Used In Computing Earnings Per Share [Line Items]
Interest rate		1.75%	1.75%	1.75%	1.75%	1.75%

Derivative Instruments and He28

Derivative Instruments and Hedging Activities - Hedging Positions (Detail) - Aug. 05, 2015 - Subsequent Event [Member]	MMBTUMBbls$ / MMBTU$ / bbl
Oil (MBbls) [Member] | 2015 Hedging Position One [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price | $ / bbl	89
Oil (MBbls) [Member] | 2015 Hedging Position Two [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price | $ / bbl	90
Oil (MBbls) [Member] | 2015 Hedging Position Three [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price | $ / bbl	90.25
Oil (MBbls) [Member] | 2015 Hedging Position Four [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price | $ / bbl	90.40
Oil (MBbls) [Member] | 2015 Hedging Position Five [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price | $ / bbl	91.05
Oil (MBbls) [Member] | 2015 Hedging Position Six [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price | $ / bbl	93.28
Oil (MBbls) [Member] | 2015 Hedging Position Seven [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price | $ / bbl	93.37
Oil (MBbls) [Member] | 2015 Hedging Position Eight [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price | $ / bbl	94.85
Oil (MBbls) [Member] | 2015 Hedging Position Nine [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price | $ / bbl	95
Oil (MBbls) [Member] | 2016 Hedging Position One [Member]
Derivatives, Fair Value [Line Items]
Daily Volume	1,000
Swap Price | $ / bbl	90
Natural Gas (MMcfe) [Member] | 2015 Hedging Position One [Member]
Derivatives, Fair Value [Line Items]
Daily Volume | MMBTU	10,000
Swap Price | $ / MMBTU	4.005
Natural Gas (MMcfe) [Member] | 2015 Hedging Position Two [Member]
Derivatives, Fair Value [Line Items]
Daily Volume | MMBTU	10,000
Swap Price | $ / MMBTU	4.120
Natural Gas (MMcfe) [Member] | 2015 Hedging Position Three [Member]
Derivatives, Fair Value [Line Items]
Daily Volume | MMBTU	10,000
Swap Price | $ / MMBTU	4.150
Natural Gas (MMcfe) [Member] | 2015 Hedging Position Four [Member]
Derivatives, Fair Value [Line Items]
Daily Volume | MMBTU	10,000
Swap Price | $ / MMBTU	4.165
Natural Gas (MMcfe) [Member] | 2015 Hedging Position Five [Member]
Derivatives, Fair Value [Line Items]
Daily Volume | MMBTU	10,000
Swap Price | $ / MMBTU	4.220
Natural Gas (MMcfe) [Member] | 2015 Hedging Position Six [Member]
Derivatives, Fair Value [Line Items]
Daily Volume | MMBTU	10,000
Swap Price | $ / MMBTU	4.255
Natural Gas (MMcfe) [Member] | 2016 Hedging Position One [Member]
Derivatives, Fair Value [Line Items]
Daily Volume | MMBTU	10,000
Swap Price | $ / MMBTU	4.110
Natural Gas (MMcfe) [Member] | 2016 Hedging Position Two [Member]
Derivatives, Fair Value [Line Items]
Daily Volume | MMBTU	10,000
Swap Price | $ / MMBTU	4.120

Derivative Instruments and He29

Derivative Instruments and Hedging Activities - Additional Information (Detail) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)	Dec. 31, 2015Contract	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Maximum correlation between price of oil & natural gas in market and underlying price basis indicative in the derivative contract	100.00%
Accumulated other comprehensive income (loss)	$ 40,656		$ 70,800	$ 83,315	$ (18,200)	$ (9,200)	$ (2,100)
Accumulated other comprehensive income, to be reclassified into earnings in the next twelve months	41,400
Cash Flow Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ 46,500		$ 77,900	$ 86,800	$ (17,800)	$ (8,000)	$ (1,400)
Scenario, Forecast [Member] | Natural Gas (MMcfe) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Number of Contracts no longer qualifying as cash flow hedges | Contract		3

Derivative Instruments and He30

Derivative Instruments and Hedging Activities - Location and Fair Value Amounts of Derivative Instruments Reported in Balance Sheet (Detail) - Commodity Contracts [Member] - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Asset Derivatives
Fair Value of Derivative Instruments, Assets	$ 75.7	$ 141.3
Liability Derivatives
Fair Value of Derivative Instruments, Liabilities	0	0
Current Liabilities [Member]
Liability Derivatives
Fair Value of Derivative Instruments, Liabilities	0	0
Long-Term Liabilities [Member]
Liability Derivatives
Fair Value of Derivative Instruments, Liabilities	0	0
Current Assets [Member]
Asset Derivatives
Fair Value of Derivative Instruments, Assets	67.5	127
Long-Term Assets [Member]
Asset Derivatives
Fair Value of Derivative Instruments, Assets	$ 8.2	$ 14.3

Derivative Instruments and He31

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, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion, Net, Total	$ (18.8)	$ (26)	$ 4.1	$ (43.4)
Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion, Net, Total	(18.8)	(26)	4.1	(43.4)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net, Total	30.4	(9.2)	67.2	(16.3)
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net, Total	(0.4)	(1)	0.5	(1.6)
Cash Flow Hedging [Member] | Operating Revenue - Oil/Gas Production [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net, Total	30.4	(9.2)	67.2	(16.3)
Cash Flow Hedging [Member] | Commodity Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion, Net, Total	(18.8)	(26)	4.1	(43.4)
Cash Flow Hedging [Member] | Derivative Income (Expense), Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net, Total	$ (0.4)	$ (1)	$ 0.5	$ (1.6)

Derivative Instruments and He32

Derivative Instruments and Hedging Activities - Before Tax Effect of Derivative Instruments in Statement of Operations (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Decrease/increase in oil revenue owing to effective hedging contracts	$ 26.4	$ (6.1)	$ 60.4	$ (8.6)
Decrease/increase in gas revenue owing to effective hedging contracts	$ 4	$ (3.1)	$ 6.8	$ (7.7)

Derivative Instruments and He33

Derivative Instruments and Hedging Activities - Location and Fair Value Amounts of Derivative Instruments Not Qualifying as Hedging Instruments Reported in Balance Sheet (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Commodity Contracts [Member] | Current Assets [Member]
Asset Derivatives
Fair Value of Derivative Instruments	$ 6.8	$ 12.1

Derivative Instruments and He34

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) - Commodity Contracts [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Cash settlements on Derivative Instruments not Qualifying Hedges	$ 4.1		$ 7.2
Change in fair value on Derivative Instruments not Qualifying Hedges	(4.4)	$ (1.5)	(5.3)	$ (1.5)
Total gains (losses) on Derivative Instruments not Qualifying Hedges	$ (0.3)	$ (1.5)	$ 1.9	$ (1.5)

Long-Term Debt - Long-Term Debt

Long-Term Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt	$ 1,048,406	$ 1,041,035
Convertible Debt [Member] | 1.75% Senior Notes due 2017 [Member]
Debt Instrument [Line Items]
Long-term debt	273,400	266,000
Senior Notes [Member] | 7.5% Notes due 2022 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 775,000	$ 775,000

Long-Term Debt - Long-Term De36

Long-Term Debt - Long-Term Debt (Parenthetical) (Detail)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Convertible Debt [Member] | 1.75% Senior Notes due 2017 [Member]
Debt Instrument [Line Items]
Interest rate	1.75%	1.75%	1.75%
Senior Notes [Member] | 7.5% Notes due 2022 [Member]
Debt Instrument [Line Items]
Interest rate	7.50%	7.50%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)$ / shares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2014USD ($)	Aug. 05, 2015USD ($)	May. 01, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 24, 2014USD ($)	Mar. 06, 2012USD ($)
Debt Instrument [Line Items]
Liability component of convertible note	$ 1,048,406,000		$ 1,048,406,000				$ 1,041,035,000
Minimum [Member]
Debt Instrument [Line Items]
Percentage of borrowing base utilization			1.50%
Maximum [Member]
Debt Instrument [Line Items]
Percentage of borrowing base utilization			2.50%
Letter of Credit [Member]
Debt Instrument [Line Items]
Outstanding borrowing under bank credit facility	$ 19,200,000		$ 19,200,000
Subsequent Event [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Outstanding borrowing under bank credit facility					$ 19,200,000
1.75% Senior Convertible Notes due 2017 [Member]
Debt Instrument [Line Items]
Aggregate principal amount of Senior Subordinated Notes									$ 300,000,000
Initial conversion rate of convertible note 2017			An initial conversion rate of 23.4449 shares of our common stock per $1,000 principal amount of 2017 Convertible Notes,
Initial conversion rate of common stock			23.4449
Principal amount of 2017 convertible notes | $ / shares	$ 1,000		$ 1,000
Initial conversion price of convertible note 2017 | $ / shares			42.65
Closing share price | $ / shares	$ 12.59		$ 12.59
Payment for call option			$ 70,800,000
Anti-dilution adjustments for purchases of call option | shares			7,033,470
Strike price per share | $ / shares			$ 55.91
Proceeds from sale of warrants			$ 40,100,000
Liability component of convertible note	$ 273,400,000		273,400,000
Interest expense related to amortization of discount	3,700,000	$ 3,500,000	7,400,000	$ 6,800,000
Amortization of deferred financing costs	400,000	300,000	700,000	600,000
Interest expense related to contractual interest coupon of convertible notes	1,300,000	$ 1,300,000	$ 2,600,000	$ 2,600,000
Bank Debt [Member]
Debt Instrument [Line Items]
Credit facility initial date			Jun. 24, 2014
Redetermined base borrowing and credit facility								$ 900,000,000
Maturity of new credit facility if note issue under 2004 indenture are retired on or before April 15, 2014			Jul. 1, 2019
Initial bank and availability under facility	480,800,000		$ 480,800,000			$ 500,000,000
Outstanding borrowing under bank credit facility	$ 0		$ 0
Period in which outstanding amount has to be repaid to cure deficiency			10 days
Period in which bank has to add new properties to borrowing base and has to grant mortgage to banks			30 days
Oil and gas reserve as proportion of discounted present value of future net cash flow, for mortgage			80.00%
Bank Debt [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Initial bank and availability under facility					480,800,000
Outstanding borrowing under bank credit facility					$ 0

Asset Retirement Obligations -

Asset Retirement Obligations - Changes in Asset Retirement Obligations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations as of the beginning of the period, including current portion			$ 316,400
Liabilities incurred			3,500
Liabilities settled			(35,900)
Accretion expense	$ 6,408	$ 7,733	12,817	$ 15,288
Asset retirement obligations as of the end of the period, including current portion	$ 296,800		$ 296,800

Divestitures - Additional Infor

Divestitures - Additional Information (Detail) $ in Millions	1 Months Ended
	Jul. 31, 2014USD ($)
GOM Conventional Shelf [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration received on sale of interest	$ 177.6

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities (Other assets)	$ 8.8	$ 8.4
Assets, Fair Value, Total	91.4	161.9
Liabilities, Fair Value, Total	0	0
Derivative Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Fair Value	82.6	153.5
Derivative Liabilities, Fair Value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities (Other assets)	8.8	8.4
Assets, Fair Value, Total	8.8	8.4
Liabilities, Fair Value, Total	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Derivative Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities, Fair Value	0	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value, Total	82.6	153.5
Liabilities, Fair Value, Total	0	0
Significant Other Observable Inputs (Level 2) [Member] | Derivative Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, Fair Value	82.6	153.5
Derivative Liabilities, Fair Value	0	0
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, Fair Value, Total	0	0
Significant Unobservable Inputs (Level 3) [Member] | Derivative Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities, Fair Value	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
1.75% Senior Notes due 2017 [Member] | Convertible Debt [Member]
Debt Instrument [Line Items]
Fair value of Convertible Notes	$ 264.9	$ 252.6
7.5% Notes due 2022 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Fair value of Notes	$ 685.9	$ 664.6

Accumulated Other Comprehensi42

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, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, net of tax	$ 70,800	$ (9,200)	$ 83,315	$ (2,100)
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	(18,800)	(26,000)	4,100	(43,400)
Foreign currency translations	1,300	800	(2,300)	300
Income tax effect	6,900	9,400	(1,300)	15,700
Net of tax	(10,600)	(15,800)	500	(27,400)
Amounts reclassified from accumulated other comprehensive income:
Net of tax	19,500	(6,800)	43,100	(11,300)
Other comprehensive income (loss), net of tax	(30,100)	(9,000)	(42,600)	(16,100)
Ending balance, net of tax	40,656	(18,200)	40,656	(18,200)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/gas production	30,400	(9,200)	67,200	(16,300)
Derivative expense, net		(1,500)		(1,500)
Income tax effect	(10,900)	3,900	(24,100)	6,500
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, net of tax	77,900	(8,000)	86,800	(1,400)
Other comprehensive income (loss) before reclassifications:
Change in fair value of derivatives	(18,800)	(26,000)	4,100	(43,400)
Income tax effect	6,900	9,400	(1,300)	15,700
Net of tax	(11,900)	(16,600)	2,800	(27,700)
Amounts reclassified from accumulated other comprehensive income:
Net of tax	19,500	(6,800)	43,100	(11,300)
Other comprehensive income (loss), net of tax	(31,400)	(9,800)	(40,300)	(16,400)
Ending balance, net of tax	46,500	(17,800)	46,500	(17,800)
Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Amounts reclassified from accumulated other comprehensive income:
Operating revenue: oil/gas production	30,400	(9,200)	67,200	(16,300)
Derivative expense, net		(1,500)		(1,500)
Income tax effect	(10,900)	3,900	(24,100)	6,500
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, net of tax	(7,100)	(1,200)	(3,500)	(700)
Other comprehensive income (loss) before reclassifications:
Foreign currency translations	1,300	800	(2,300)	300
Net of tax	1,300	800	(2,300)	300
Amounts reclassified from accumulated other comprehensive income:
Other comprehensive income (loss), net of tax	1,300	800	(2,300)	300
Ending balance, net of tax	$ (5,800)	$ (400)	$ (5,800)	$ (400)

Investment in Oil and Gas Pro43

Investment in Oil and Gas Properties - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)$ / bbl$ / Mcf$ / Bngl	Mar. 31, 2015USD ($)$ / bbl$ / Mcf$ / Bngl	Jun. 30, 2015USD ($)$ / bbl$ / Mcf$ / Bngl
Oil and Gas In Process Activities [Line Items]
Write-down of oil and gas properties	$ 224,294		$ 715,706
Average 12-month oil prices net of differentials | $ / bbl	68.68	78.99	68.68
Average 12-month gas prices net of differentials | $ / Mcf	2.47	2.96	2.47
Decrease in written down value of oil and gas properties		$ 28,700	$ 47,800
Canada [Member]
Oil and Gas In Process Activities [Line Items]
Write-down of oil and gas properties			45,200
Oil And Gas [Member]
Oil and Gas In Process Activities [Line Items]
Write-down of oil and gas properties		$ 491,400	$ 179,100
Natural Gas Liquids (MBbls) [Member]
Oil and Gas In Process Activities [Line Items]
Average 12-month gas prices net of differentials | $ / Bngl	29.13	28.82	29.13

Commitments and Contingencies -

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

Guarantor Financial Statement45

Guarantor Financial Statements - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands		Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents		$ 141,655		$ 74,488	$ 333,886		$ 331,224
Restricted cash				177,647
Accounts receivable		68,706		120,359
Fair value of derivative contracts		74,319		139,179
Current income tax receivable		6		7,212
Inventory		3,709		3,709
Other current assets		10,076		8,118
Total current assets		298,471		530,712
Oil and gas properties, full cost method:
Proved		9,074,425		8,817,268
Less: accumulated DD&A		(7,846,343)		(6,970,631)
Net proved oil and gas properties		1,228,082		1,846,637
Unevaluated		529,589		567,365
Other property and equipment, net		30,736		32,340
Fair value of derivative contracts		8,231		14,333
Other assets, net		28,082		27,224
Total assets		2,123,191		3,018,611
Current liabilities:
Accounts payable to vendors		69,423		132,629
Undistributed oil and gas proceeds		17,000		23,232
Accrued interest		9,027		9,022
Deferred taxes	[1]	7,065		20,119
Asset retirement obligations		56,176		69,400
Other current liabilities		46,780		49,505
Total current liabilities		205,471		303,907
Long-term debt		1,048,406		1,041,035
Deferred taxes	[1]	11,752		286,343
Asset retirement obligations		240,613		247,009
Other long-term liabilities		32,213		38,714
Total liabilities		$ 1,538,455		$ 1,917,008
Commitments and contingencies
Stockholders' equity:
Common stock		$ 553		$ 549
Treasury stock		(860)		(860)
Additional paid-in capital		1,639,389		1,633,307
Accumulated deficit		(1,095,002)		(614,708)
Accumulated other comprehensive income (loss)		40,656	$ 70,800	83,315	(18,200)	$ (9,200)	(2,100)
Total stockholders' equity		584,736		1,101,603
Total liabilities and stockholders' equity		2,123,191		3,018,611
Parent [Member]
Current assets:
Cash and cash equivalents		116,427		72,886	244,254		246,294
Restricted cash				177,647
Accounts receivable		38,735		73,711
Current income tax receivable		6		7,212
Deferred taxes	[1]			4,095
Inventory		3,426		1,011
Other current assets		10,007		8,112
Total current assets		168,601		344,674
Oil and gas properties, full cost method:
Proved		1,778,480		1,689,802
Less: accumulated DD&A		(1,724,404)		(970,387)
Net proved oil and gas properties		54,076		719,415
Unevaluated		300,360		289,556
Other property and equipment, net		30,736		32,340
Other assets, net		25,149		20,857
Investment in subsidiary		1,057,810		1,050,546
Total assets		1,636,732		2,457,388
Current liabilities:
Accounts payable to vendors		56,763		74,756
Undistributed oil and gas proceeds		16,093		22,158
Accrued interest		9,027		9,022
Deferred taxes	[1]	298
Other current liabilities		46,724		49,306
Total current liabilities		128,905		155,242
Long-term debt		1,048,406		1,041,035
Deferred taxes	[1]	(161,285)		117,206
Asset retirement obligations		3,757		3,588
Other long-term liabilities		32,213		38,714
Total liabilities		$ 1,051,996		$ 1,355,785
Commitments and contingencies
Stockholders' equity:
Common stock		$ 553		$ 549
Treasury stock		(860)		(860)
Additional paid-in capital		1,639,389		1,633,307
Accumulated deficit		(1,095,002)		(614,708)
Accumulated other comprehensive income (loss)		40,656		83,315
Total stockholders' equity		584,736		1,101,603
Total liabilities and stockholders' equity		1,636,732		2,457,388
Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents		25,034		1,450	89,388		84,290
Accounts receivable		243,846		46,615
Fair value of derivative contracts		74,319		139,179
Inventory		283		2,698
Total current assets		343,482		189,942
Oil and gas properties, full cost method:
Proved		7,251,498		7,127,466
Less: accumulated DD&A		(6,077,492)		(6,000,244)
Net proved oil and gas properties		1,174,006		1,127,222
Unevaluated		227,067		241,230
Fair value of derivative contracts		8,231		14,333
Other assets, net		1,385		1,360
Total assets		1,754,171		1,574,087
Current liabilities:
Accounts payable to vendors		216,834		57,873
Undistributed oil and gas proceeds		907		1,074
Deferred taxes	[1]	6,767		24,214
Asset retirement obligations		56,176		69,400
Other current liabilities		56		199
Total current liabilities		280,740		152,760
Deferred taxes	[1]	189,303		169,137
Asset retirement obligations		236,856		243,421
Total liabilities		$ 706,899		$ 565,318
Commitments and contingencies
Stockholders' equity:
Additional paid-in capital		$ 1,367,434		$ 1,362,684
Accumulated deficit		(366,607)		(440,699)
Accumulated other comprehensive income (loss)		46,445		86,784
Total stockholders' equity		1,047,272		1,008,769
Total liabilities and stockholders' equity		1,754,171		1,574,087
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents		194		152	$ 244		$ 640
Accounts receivable		31		33
Other current assets		69		6
Total current assets		294		191
Oil and gas properties, full cost method:
Proved		44,447
Less: accumulated DD&A		(44,447)
Unevaluated		2,162		36,579
Deferred taxes	[1]	16,266
Other assets, net		1,548		5,007
Investment in subsidiary		20,083		41,638
Total assets		40,353		$ 83,415
Current liabilities:
Accounts payable to vendors		9,732
Total current liabilities		9,732
Total liabilities		$ 9,732
Commitments and contingencies
Stockholders' equity:
Additional paid-in capital		$ 100,023		$ 90,339
Accumulated deficit		(57,824)		12
Accumulated other comprehensive income (loss)		(11,578)		(6,936)
Total stockholders' equity		30,621		83,415
Total liabilities and stockholders' equity		40,353		83,415
Eliminations [Member]
Current assets:
Accounts receivable		(213,906)
Deferred taxes	[1]			(4,095)
Total current assets		(213,906)		(4,095)
Oil and gas properties, full cost method:
Deferred taxes	[1]	(16,266)
Investment in subsidiary		(1,077,893)		(1,092,184)
Total assets		(1,308,065)		(1,096,279)
Current liabilities:
Accounts payable to vendors		(213,906)
Deferred taxes	[1]			(4,095)
Total current liabilities		(213,906)		(4,095)
Deferred taxes	[1]	(16,266)
Total liabilities		$ (230,172)		$ (4,095)
Commitments and contingencies
Stockholders' equity:
Additional paid-in capital		$ (1,467,457)		$ (1,453,023)
Accumulated deficit		424,431		440,687
Accumulated other comprehensive income (loss)		(34,867)		(79,848)
Total stockholders' equity		(1,077,893)		(1,092,184)
Total liabilities and stockholders' equity		$ (1,308,065)		$ (1,096,279)
[1]	Deferred income taxes have been allocated to our Guarantor Subsidiaries where related oil and gas properties reside.

Guarantor Financial Statement46

Guarantor Financial Statements - Condensed Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Operating revenue:
Oil production	$ 111,585	$ 142,393	$ 219,092	$ 280,682
Natural gas production	26,907	46,667	55,244	103,029
Natural gas liquids production	11,033	15,936	23,399	43,906
Other operational income		2,050	1,792	3,047
Derivative income, net			2,427
Total operating revenue	149,525	207,046	301,954	430,664
Operating expenses:
Lease operating expenses	27,429	49,454	55,006	96,357
Transportation, processing and gathering expenses	19,940	14,098	37,643	28,724
Production taxes	1,827	3,257	4,342	6,319
Depreciation, depletion, amortization	77,951	92,835	164,373	175,481
Write-down of oil and gas properties	224,294		715,706
Accretion expense	6,408	7,733	12,817	15,288
Salaries, general and administrative	16,418	16,637	33,425	32,966
Incentive compensation expense	1,264	3,903	2,827	7,037
Other operational expense	1,454		1,170	212
Derivative expense, net	701	2,516		3,115
Total operating expenses	377,686	190,433	1,027,309	365,499
Income (loss) from operations	(228,161)	16,613	(725,355)	65,165
Other (income) expenses:
Interest expense	10,472	9,913	20,837	18,270
Interest income	(66)	(193)	(188)	(336)
Other income	(613)	(722)	(756)	(1,429)
Other expense		179		179
Total other (income) expenses	9,793	9,177	19,893	16,684
Income (loss) before taxes	(237,954)	7,436	(745,248)	48,481
Provision (benefit) for income taxes:
Deferred	(85,048)	2,992	(264,954)	18,094
Total income taxes	(85,048)	2,992	(264,954)	18,094
Net income (loss)	(152,906)	4,444	(480,294)	30,387
Comprehensive income (loss)	(183,062)	(4,566)	(522,953)	14,288
Parent [Member]
Operating revenue:
Oil production	6,504	5,854	10,854	12,490
Natural gas production	15,647	20,800	32,264	49,639
Natural gas liquids production	8,077	10,219	17,956	28,473
Other operational income		1,880	1,792	2,704
Total operating revenue	30,228	38,753	62,866	93,306
Operating expenses:
Lease operating expenses	5,111	5,046	10,087	9,059
Transportation, processing and gathering expenses	17,974	10,456	34,082	20,773
Production taxes	1,436	1,903	3,634	3,584
Depreciation, depletion, amortization	44,052	30,385	86,164	58,440
Write-down of oil and gas properties	179,125		670,537
Accretion expense	91	61	182	129
Salaries, general and administrative	16,398	16,639	33,399	32,964
Incentive compensation expense	1,264	3,903	2,827	7,037
Other operational expense	1,454		1,170	176
Total operating expenses	266,905	68,393	842,082	132,162
Income (loss) from operations	(236,677)	(29,640)	(779,216)	(38,856)
Other (income) expenses:
Interest expense	10,472	9,880	20,816	18,233
Interest income	(46)	(146)	(147)	(225)
Other income	(187)	(192)	(320)	(373)
Other expense		179		179
(Income) loss from investment in subsidiaries	(16,147)	(29,947)	(45,174)	(67,292)
Total other (income) expenses	(5,908)	(20,226)	(24,825)	(49,478)
Income (loss) before taxes	(230,769)	(9,414)	(754,391)	10,622
Provision (benefit) for income taxes:
Deferred	(77,863)	(13,858)	(274,097)	(19,765)
Total income taxes	(77,863)	(13,858)	(274,097)	(19,765)
Net income (loss)	(152,906)	4,444	(480,294)	30,387
Comprehensive income (loss)	(183,062)	(4,566)	(522,953)	14,288
Guarantor Subsidiaries [Member]
Operating revenue:
Oil production	105,081	136,539	208,238	268,192
Natural gas production	11,260	25,867	22,980	53,390
Natural gas liquids production	2,956	5,717	5,443	15,433
Other operational income		170		343
Derivative income, net			2,427
Total operating revenue	119,297	168,293	239,088	337,358
Operating expenses:
Lease operating expenses	22,318	44,408	44,919	87,298
Transportation, processing and gathering expenses	1,966	3,642	3,561	7,951
Production taxes	391	1,354	708	2,735
Depreciation, depletion, amortization	33,899	62,450	78,209	117,041
Accretion expense	6,317	7,672	12,635	15,159
Salaries, general and administrative			1	2
Other operational expense				36
Derivative expense, net	701	2,516		3,115
Total operating expenses	65,592	122,042	140,033	233,337
Income (loss) from operations	53,705	46,251	99,055	104,021
Other (income) expenses:
Interest expense		33	21	37
Interest income	(19)	(41)	(35)	(99)
Other income	(423)	(530)	(433)	(1,056)
Total other (income) expenses	(442)	(538)	(447)	(1,118)
Income (loss) before taxes	54,147	46,789	99,502	105,139
Provision (benefit) for income taxes:
Deferred	9,082	16,850	25,410	37,859
Total income taxes	9,082	16,850	25,410	37,859
Net income (loss)	45,065	29,939	74,092	67,280
Comprehensive income (loss)	45,065	29,939	74,092	67,280
Non-Guarantor Subsidiaries [Member]
Operating expenses:
Write-down of oil and gas properties	45,169		45,169
Salaries, general and administrative	20	(2)	25
Total operating expenses	45,189	(2)	45,194
Income (loss) from operations	(45,189)	2	(45,194)
Other (income) expenses:
Interest income	(1)	(6)	(6)	(12)
Other income	(3)		(3)
(Income) loss from investment in subsidiaries	28,918	(8)	28,918	(12)
Total other (income) expenses	28,914	(14)	28,909	(24)
Income (loss) before taxes	(74,103)	16	(74,103)	24
Provision (benefit) for income taxes:
Deferred	(16,267)		(16,267)
Total income taxes	(16,267)		(16,267)
Net income (loss)	(57,836)	16	(57,836)	24
Comprehensive income (loss)	(57,836)	16	(57,836)	24
Eliminations [Member]
Other (income) expenses:
(Income) loss from investment in subsidiaries	(12,771)	29,955	16,256	67,304
Total other (income) expenses	(12,771)	29,955	16,256	67,304
Income (loss) before taxes	12,771	(29,955)	(16,256)	(67,304)
Provision (benefit) for income taxes:
Net income (loss)	12,771	(29,955)	(16,256)	(67,304)
Comprehensive income (loss)	$ 12,771	$ (29,955)	$ (16,256)	$ (67,304)

Guarantor Financial Statement47

Guarantor Financial Statements - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (152,906)	$ 4,444	$ (480,294)	$ 30,387
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	77,951	92,835	164,373	175,481
Write-down of oil and gas properties	224,294		715,706
Accretion expense	6,408	7,733	12,817	15,288
Deferred income tax (benefit) provision	(85,048)	2,992	(264,954)	18,094
Settlement of asset retirement obligations			(35,923)	(24,915)
Non-cash stock compensation expense			6,028	5,358
Non-cash derivative expense			7,931	2,697
Non-cash interest expense			8,737	8,229
Change in current income taxes			7,206	(6)
(Increase) decrease in accounts receivable			23,047	(25,524)
Increase in other current assets			(1,959)	(82)
Increase (decrease) in accounts payable			(7,826)	1,843
Increase (decrease) in other current liabilities			(8,720)	50,785
Other			(504)	(675)
Net cash (used in) provided by operating activities			145,665	256,960
Cash flows from investing activities:
Investment in oil and gas properties			(264,355)	(517,904)
Proceeds from sale of oil and gas properties, net of expenses			10,100	51,955
Investment in fixed and other assets			(727)	(3,896)
Change in restricted funds			179,475	(356)
Net cash provided by (used in) investing activities			(75,507)	(470,201)
Cash flows from financing activities:
Proceeds from bank borrowings			5,000
Net proceeds from issuance of common stock				226,036
Repayments of bank borrowings			(5,000)
Deferred financing costs				(3,167)
Net payments for share-based compensation			(3,069)	(6,948)
Net cash provided by (used in) financing activities			(3,069)	215,921
Effect of exchange rate changes on cash			78	(18)
Net change in cash and cash equivalents			67,167	2,662
Cash and cash equivalents, beginning of period			74,488	331,224
Cash and cash equivalents, end of period	141,655	333,886	141,655	333,886
Parent [Member]
Cash flows from operating activities:
Net income (loss)	(152,906)	4,444	(480,294)	30,387
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	44,052	30,385	86,164	58,440
Write-down of oil and gas properties	179,125		670,537
Accretion expense	91	61	182	129
Deferred income tax (benefit) provision	(77,863)	(13,858)	(274,097)	(19,765)
Settlement of asset retirement obligations			(14)	(82)
Non-cash stock compensation expense			6,028	5,358
Non-cash interest expense			8,737	8,229
Change in current income taxes			7,206	(6)
Non-cash (income) expense from investment in subsidiaries			(45,174)	(67,292)
Change in intercompany receivables/payables			15,070	(126,526)
(Increase) decrease in accounts receivable			16,968	(42,216)
Increase in other current assets			(1,895)	(82)
(Increase) decrease in inventory			(2,415)
Increase (decrease) in accounts payable			(500)	2,052
Increase (decrease) in other current liabilities			(8,409)	48,987
Other			(71)	381
Net cash (used in) provided by operating activities			(1,977)	(102,006)
Cash flows from investing activities:
Investment in oil and gas properties			(128,333)	(121,836)
Proceeds from sale of oil and gas properties, net of expenses				9,777
Investment in fixed and other assets			(727)	(3,896)
Change in restricted funds			177,647
Net cash provided by (used in) investing activities			48,587	(115,955)
Cash flows from financing activities:
Proceeds from bank borrowings			5,000
Net proceeds from issuance of common stock				226,036
Repayments of bank borrowings			(5,000)
Deferred financing costs				(3,167)
Net payments for share-based compensation			(3,069)	(6,948)
Net cash provided by (used in) financing activities			(3,069)	215,921
Net change in cash and cash equivalents			43,541	(2,040)
Cash and cash equivalents, beginning of period			72,886	246,294
Cash and cash equivalents, end of period	116,427	244,254	116,427	244,254
Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)	45,065	29,939	74,092	67,280
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	33,899	62,450	78,209	117,041
Accretion expense	6,317	7,672	12,635	15,159
Deferred income tax (benefit) provision	9,082	16,850	25,410	37,859
Settlement of asset retirement obligations			(35,909)	(24,833)
Non-cash derivative expense			7,931	2,697
Change in intercompany receivables/payables			(24,802)	114,841
(Increase) decrease in accounts receivable			6,079	16,692
(Increase) decrease in inventory			2,415
Increase (decrease) in accounts payable			(7,326)	(209)
Increase (decrease) in other current liabilities			(311)	1,798
Other			(433)	(1,056)
Net cash (used in) provided by operating activities			137,990	347,269
Cash flows from investing activities:
Investment in oil and gas properties			(124,506)	(384,349)
Proceeds from sale of oil and gas properties, net of expenses			10,100	42,178
Net cash provided by (used in) investing activities			(114,406)	(342,171)
Cash flows from financing activities:
Net change in cash and cash equivalents			23,584	5,098
Cash and cash equivalents, beginning of period			1,450	84,290
Cash and cash equivalents, end of period	25,034	89,388	25,034	89,388
Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)	(57,836)	16	(57,836)	24
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Write-down of oil and gas properties	45,169		45,169
Deferred income tax (benefit) provision	(16,267)		(16,267)
Non-cash (income) expense from investment in subsidiaries			28,918	(12)
Change in intercompany receivables/payables			9,732	11,685
Increase in other current assets			(64)
Net cash (used in) provided by operating activities			9,652	11,697
Cash flows from investing activities:
Investment in oil and gas properties			(11,516)	(11,719)
Change in restricted funds			1,828	(356)
Investment in subsidiaries			(9,684)	(12,176)
Net cash provided by (used in) investing activities			(19,372)	(24,251)
Cash flows from financing activities:
Equity proceeds from parent			9,684	12,176
Net cash provided by (used in) financing activities			9,684	12,176
Effect of exchange rate changes on cash			78	(18)
Net change in cash and cash equivalents			42	(396)
Cash and cash equivalents, beginning of period			152	640
Cash and cash equivalents, end of period	194	244	194	244
Eliminations [Member]
Cash flows from operating activities:
Net income (loss)	$ 12,771	$ (29,955)	(16,256)	(67,304)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Non-cash (income) expense from investment in subsidiaries			16,256	67,304
Cash flows from investing activities:
Investment in subsidiaries			9,684	12,176
Net cash provided by (used in) investing activities			9,684	12,176
Cash flows from financing activities:
Equity proceeds from parent			(9,684)	(12,176)
Net cash provided by (used in) financing activities			$ (9,684)	$ (12,176)