Goodrich Petroleum 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 02, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	GDP
Entity Registrant Name	GOODRICH PETROLEUM CORP
Entity Central Index Key	943,861
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		60,642,398

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 4,025	$ 8
Accounts receivable, trade and other, net of allowance	7,304	12,993
Accrued oil and natural gas revenue	5,384	15,128
Fair value of oil and natural gas derivatives	15,309	47,444
Inventory	4,507	1,383
Prepaid expenses and other	3,530	1,340
Total current assets	40,059	78,296
PROPERTY AND EQUIPMENT:
Oil and natural gas properties (successful efforts method)	978,711	1,478,042
Furniture, fixtures and equipment	7,592	7,645
Property, Plant and Equipment, Gross, Total	986,303	1,485,687
Less: Accumulated depletion, depreciation and amortization	(454,361)	(871,082)
Net property and equipment	531,942	614,605
Deferred tax assets	5,359	16,488
Deferred financing cost and other	7,608	12,749
TOTAL ASSETS	584,968	722,138
CURRENT LIABILITIES:
Accounts payable	37,256	86,823
Accrued liabilities	14,590	54,143
Accrued abandonment costs	83	145
Deferred tax liabilities current	5,359	16,488
Fair value of oil and natural gas derivatives	37	102
Total current liabilities	57,325	157,701
Long-term debt	540,059	568,625
Accrued abandonment costs	3,579	6,365
Fair value of oil and natural gas derivatives	47	464
Transportation obligation		4,127
Other non-current liability	585	630
Total liabilities	$ 601,595	$ 737,912
Commitments and contingencies (See Note 8)
STOCKHOLDERS’ EQUITY:
Common stock: $0.20 par value, 150,000,000 shares authorized; issued and outstanding 59,254,314 and 45,105,205 shares, respectively	$ 11,851	$ 9,021
Additional paid in capital	1,147,262	1,066,770
Retained earnings (accumulated deficit)	(1,177,999)	(1,093,824)
Total stockholders’ equity (deficit)	(16,627)	(15,774)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	584,968	722,138
Series B Convertible Preferred Stock
STOCKHOLDERS’ EQUITY:
Preferred stock	2,250	2,250
Series C Cumulative Preferred Stock
STOCKHOLDERS’ EQUITY:
Preferred stock	4	4
Series D Cumulative Preferred Stock
STOCKHOLDERS’ EQUITY:
Preferred stock	$ 5	$ 5

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$ 1	$ 1
Common stock, par value	$ 0.20	$ 0.20
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	59,254,314	45,105,205
Common stock, shares outstanding	59,254,314	45,105,205
Series B Convertible Preferred Stock
Preferred stock, shares issued	2,249,893	2,249,893
Preferred stock, shares outstanding	2,249,893	2,249,893
Series C Cumulative Preferred Stock
Preferred stock, shares issued	4,400	4,400
Preferred stock, shares outstanding	4,400	4,400
Series D Cumulative Preferred Stock
Preferred stock, shares issued	5,200	5,200
Preferred stock, shares outstanding	5,200	5,200

Consolidated Statements Of Oper

Consolidated Statements Of Operations (Unaudited) - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUES:
Oil and natural gas revenues	$ 18,116,000	$ 54,880,000	$ 68,296,000	$ 159,953,000
Other	(387,000)	(6,000)	(436,000)	43,000
Total revenues	17,729,000	54,874,000	67,860,000	159,996,000
OPERATING EXPENSES:
Lease operating expense	3,937,000	6,745,000	13,017,000	22,674,000
Production and other taxes	1,263,000	2,869,000	4,050,000	7,293,000
Transportation and processing	1,447,000	2,121,000	4,302,000	6,832,000
Depreciation, depletion and amortization	21,819,000	36,011,000	61,052,000	95,325,000
Exploration	4,278,000	897,000	14,398,000	5,564,000
Impairment	32,487,000	85,339,000	32,487,000	85,339,000
General and administrative	5,352,000	8,312,000	19,562,000	26,707,000
Gain on sale of assets	(42,759,000)		(46,520,000)
Other			(45,000)	3,357,000
Operating Expenses, Total	27,824,000	142,294,000	102,303,000	253,091,000
Operating loss	(10,095,000)	(87,420,000)	(34,443,000)	(93,095,000)
OTHER INCOME (EXPENSE):
Interest expense	(15,583,000)	(12,645,000)	(42,447,000)	(36,274,000)
Interest income and other		6,000		26,000
Gain on derivatives not designated as hedges	7,882,000	20,348,000	6,338,000	2,034,000
Nonoperating Income (Expense), Total	(7,701,000)	7,709,000	(36,109,000)	(34,214,000)
Loss before income taxes	(17,796,000)	(79,711,000)	(70,552,000)	(127,309,000)
Income tax benefit	0		0
Net loss	(17,796,000)	(79,711,000)	(70,552,000)	(127,309,000)
Preferred stock dividends	7,430,000	7,431,000	22,291,000	22,292,000
Net loss applicable to common stock	$ (25,226,000)	$ (87,142,000)	$ (92,843,000)	$ (149,601,000)
PER COMMON SHARE
Net loss applicable to common stock - basic	$ (0.44)	$ (1.96)	$ (1.70)	$ (3.37)
Net loss applicable to common stock - diluted	$ (0.44)	$ (1.96)	$ (1.70)	$ (3.37)
Weighted average common shares outstanding - basic	57,606	44,430	54,697	44,337
Weighted average common shares outstanding - diluted	57,606	44,430	54,697	44,337

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (70,552,000)	$ (127,309,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depletion, depreciation and amortization	61,052,000	95,325,000
Impairment	32,487,000	85,339,000
(Gain) loss on derivatives not designated as hedges	(6,338,000)	(2,034,000)
Net cash received (paid) in settlement of derivative instruments	37,991,000	(5,583,000)
Amortization of leasehold costs	12,337,000	2,831,000
Share based compensation (non-cash)	4,688,000	6,674,000
Gain on sale of assets	(46,520,000)
Exploration cost	76,000	785,000
Amortization of finance cost, debt discount and accretion	9,278,000	7,995,000
Amortization of transportation obligation	469,000	601,000
Materials inventory write-down	675,000
Change in assets and liabilities:
Accounts receivable, trade and other, net of allowance	5,611,000	(5,732,000)
Accrued oil and natural gas revenue	9,744,000	(1,520,000)
Inventory	(3,831,000)	758,000
Prepaid expenses and other	(1,531,000)	562,000
Accounts payable	(51,568,000)	42,525,000
Accrued liabilities	(5,927,000)	(6,049,000)
Net cash (used in) provided by operating activities	(11,859,000)	95,168,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(113,997,000)	(238,313,000)
Proceeds from sale of assets	104,850,000	625,000
Net cash used in investing activities	(9,147,000)	(237,688,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank borrowings	229,000,000	247,000,000
Principal payments of bank borrowings	(332,500,000)	(129,000,000)
Proceeds from Second Lien Notes	100,000,000
Note conversions	(142,000)
Proceeds from equity offering	47,481,000
Preferred stock dividends	(14,861,000)	(22,292,000)
Debt issuance costs	(3,608,000)	(334,000)
Other	(347,000)	141,000
Net cash provided by financing activities	25,023,000	95,515,000
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	4,017,000	(47,005,000)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	8,000	49,220,000
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 4,025,000	$ 2,215,000

Description of Business and Sig

Description of Business and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Description of Business and Significant Accounting Policies	NOTE 1—Description of Business and Significant Accounting Policies Goodrich Petroleum Corporation (together with its subsidiary, “we,” “our,” or the “Company”) is an independent oil and natural gas company engaged in the exploration, development and production of oil and natural gas on properties primarily in (i) Southwest Mississippi and Southeast Louisiana, which includes the Tuscaloosa Marine Shale Trend (“TMS”), (ii) South Texas, which includes the Eagle Ford Shale Trend and (iii) Northwest Louisiana and East Texas, which includes the Haynesville Shale Trend. Liquidity and Capital Resources —We are an exploration and production company with interests in non-conventional oil and natural gas shale properties that require large investments of capital to develop. Our immediate capital resources to develop our properties come from cash on hand, operating cash flows and borrowings from our Second Amended and Restated Credit Agreement (including all amendments, the “Senior Credit Facility”). The current significant decline in crude oil prices and to a lesser extent the continued depressed natural gas prices has negatively impacted our cash flows that enable us to invest in and maintain our properties and service our long term obligations. We have taken the following steps in 2015 to mitigate the effects of lower crude oil prices on our operations: 1. Reduced our capital expenditures planned for 2015 thereby conserving capital. 2. Extended the maturity of our Senior Credit Facility to February 24, 2017. 3. Received proceeds of $100 million from the issuance of Second Lien Notes. 4. Received net proceeds of $47.5 million from the sale of 12,000,000 shares of our common stock to the public. 5. Reduced staff headcount by more than 30% from year-end 2014 levels thereby reducing expenses. 6. Closed the sale of proved reserves and a portion of the associated leasehold in the Eagle Ford Shale Trend in September 2015 for proceeds of $101.6 million, with an additional $14.4 million placed into escrow pending resolution of post-closing adjustments. The proceeds were used to pay off Senior Credit Facility debt in early September. 7. In September and October 2015, we exchanged an aggregate of $72.1 million of our 5.0% Senior Convertible Notes due 2032 for $36.0 million of new 5.0% Senior Convertible Notes due 2032, thereby reducing future annual cash interest by $1.8 million. 8. In October 2015, we exchanged $158.2 million of our 8.875% Senior Notes due 2019 for $75.0 million of 8.875% Second Lien Notes due 2018, thereby reducing our future annual cash interest by $7.4 million. 9. Suspended all preferred stock dividend payments beginning in the third quarter of 2015 to conserve capital. Additionally, we have all of our remaining projected 2015 oil and condensate sales volumes favorably hedged. See Note 6. We have other resource options to enhance liquidity as well, such as selling non-core properties, entering into joint ventures in our core areas and/or further reducing our planned capital expenditures. As a result of the steps we have taken to conserve capital and enhance our liquidity, we anticipate our cash on hand, cash from operations and our available borrowing capacity under our Senior Credit Facility will be sufficient to meet our investing, financing, and working capital requirements in 2016. We may be reliant on the availability of borrowings under our Senior Credit Facility to accomplish our operation and capital expenditure plan in 2016 and beyond. A sustained drop from current commodity price levels will result in financial results that could violate a financial covenant despite the flexibility we have obtained under the revised debt covenants (See Note 3). This could prevent us from accessing our borrowings available under the Senior Credit Facility. Principles of Consolidation —The consolidated financial statements of the Company included in this Quarterly Report on Form 10-Q have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and accordingly, certain information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) has been condensed or omitted. The consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiary. Intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements reflect all normal recurring adjustments that, in the opinion of management, are necessary for a fair presentation. Certain data in prior periods’ financial statements have been adjusted to conform to the presentation of the current period. We have evaluated subsequent events through the date of this filing. Use of Estimates — Our management has made a number of estimates and assumptions relating to the reporting of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities to prepare these consolidated financial statements in conformity with US GAAP. Cash and Cash Equivalents —Cash and cash equivalents includes cash on hand, demand deposit accounts and temporary cash investments with maturities of ninety days or less at the date of purchase. Property and Equipment —As of September 30, 2015, we had interests in oil and natural gas properties totaling $530.9 million, net of accumulated depletion, which we account for under the successful efforts method. Under this method, costs of acquiring unproved and proved oil and natural gas leasehold acreage are capitalized. When proved reserves are found on an unproved property, the associated leasehold cost is transferred to proved properties. Significant unproved leases are reviewed periodically, and a valuation allowance is provided for any estimated decline in value. Costs of all other unproved leases are amortized over the estimated average holding period of the leases. Development costs are capitalized, including the costs of unsuccessful development wells. Impairment —We periodically assess our long-lived assets recorded in oil and natural gas properties on the Consolidated Balance Sheets to ensure that they are not carried in excess of fair value, which is computed using Level 3 inputs such as discounted cash flow models or valuations, based on estimated future commodity prices and our various operational assumptions. An evaluation is performed on a field-by-field basis at least annually or whenever changes in facts and circumstances indicate that our oil and natural gas properties may be impaired. To determine if a field is impaired, we compare the carrying value of the field to the undiscounted future net cash flows by applying management’s estimates of proved reserves, future oil and natural gas prices, future production of oil and natural gas reserves and future operating costs over the economic life of the property. In addition, other factors such as probable and possible reserves are taken into consideration when justified by economic conditions. For each property determined to be impaired, we recognize an impairment loss equal to the difference between the estimated fair value and the carrying value of the field. Fair value is estimated to be the present value of expected future net cash flows. Any impairment charge incurred is recorded in accumulated depletion, depreciation and amortization to reduce the carrying value of the field. Each part of this calculation is subject to a large degree of judgment, including the determination of the fields’ estimated reserves, future cash flows and fair value. During the third quarter of 2015 there was an indication, due to declines in estimated proved reserves, the carrying amount of certain of our natural gas properties was not recoverable from future cash flows. We recorded an impairment of $32.5 million for the three and nine months ended September 30, 2015. The impairment charge reduced the fields’ carrying value to an estimated fair value of $7.8 million. Estimated fair value was measured using the income approach with Level 3 inputs. No impairments were recorded for the three months ended March 31, 2015 or June 30, 2015. Fair Value Measurement —Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of an asset should reflect its highest and best use by market participants, whether in-use or an in-exchange valuation premise. The fair value of a liability should reflect the risk of nonperformance, which includes, among other things, our credit risk. We use various methods, including the income approach and market approach, to determine the fair values of our financial instruments that are measured at fair value on a recurring basis, which depend on a number of factors, including the availability of observable market data over the contractual term of the underlying instrument. For some of our instruments, the fair value is calculated based on directly observable market data or data available for similar instruments in similar markets. For other instruments, the fair value may be calculated based on these inputs as well as other assumptions related to estimates of future settlements of these instruments. We separate our financial instruments into three levels (Levels 1, 2 and 3) based on our assessment of the availability of observable market data and the significance of non-observable data used to determine the fair value of our instruments. Our assessment of an instrument can change over time based on the maturity or liquidity of the instrument, which could result in a change in the classification of the instruments between levels. Each of these levels and our corresponding instruments classified by level are further described below: · Level 1 Inputs— unadjusted quoted market prices in active markets for identical assets or liabilities. Included in this level are our senior notes; · Level 2 Inputs— quotes which are derived principally from or corroborated by observable market data. Included in this level are our bank debt and commodity derivatives whose fair values are based on third-party quotes or available interest rate information and commodity pricing data obtained from third party pricing sources and our creditworthiness or that of our counterparties; and · Level 3 Inputs— unobservable inputs for the asset or liability, such as discounted cash flow models or valuations, based on our various assumptions and future commodity prices. Included in this level would be acquisitions and impairments of oil and natural gas properties, our 5.0% Convertible Exchange Senior Notes due 2032 (the “2032 Exchange Notes”) and our 8.0% Second Lien Senior Secured Notes due 2018 (the “Second Lien Notes”). As of September 30, 2015 and December 31, 2014, the carrying amounts of our cash and cash equivalents, trade receivables and payables represented fair value because of the short-term nature of these instruments. The following table summarizes the fair value of our financial instruments and long lived assets that are recorded or disclosed at fair value classified in each level as of September 30, 2015: Fair Value Measurements as of September 30, 2015 (in thousands) Description Level 1 Level 2 Level 3 Total Recurring Fair Value Measurements Commodity derivatives (see Note 6) $ — $ 15,225 $ — $ 15,225 Debt (see Note 3) (75,864 ) (17,607 ) (43,930 ) (137,401 ) Total recurring fair value measurements $ (75,864 ) $ (2,382 ) $ (43,930 ) $ (122,176 ) Nonrecurring Fair Value Measurements Impaired natural gas properties $ — $ — $ 7,785 $ 7,785 Depreciation— Depreciation and depletion of producing oil and natural gas properties is calculated using the units-of-production method. Proved developed reserves are used to compute unit rates for unamortized tangible and intangible development costs, and proved reserves are used for unamortized leasehold costs. Gains and losses on disposals or retirements that are significant or include an entire depreciable or depletable property unit are included in operating income. Depreciation of furniture, fixtures and equipment, consisting of office furniture, computer hardware and software and leasehold improvements, is computed using the straight-line method over their estimated useful lives, which vary from three to five years Transportation Obligation —We entered into a natural gas gathering agreement with an independent service provider, effective July 27, 2010. The agreement was scheduled to remain in effect for a period of ten years and required the service provider to construct pipelines and facilities to connect our wells to the service provider’s gathering system in our Eagle Ford Shale Trend area of South Texas. In compensation for the services, we agreed to pay the service provider 110% of the total capital cost incurred by the service provider to construct new pipelines and facilities. The service provider billed us for 20% of the accumulated unpaid capital costs annually. This obligation was relieved upon the sale of our Eagle Ford Shale Trend properties in September 2015, however we are obligated to pay the 2015 annual billing. As a result, the transportation obligation liability was reduced to $1.5 million as of September 30, 2015. The obligation totaled $5.4 million as of December 31, 2014. We accounted for the agreement by recording a long-term asset, included in “Deferred financing cost and other” on the Consolidated Balance Sheets. The asset was being amortized using the units-of-production method and the amortization expense was included in “Transportation and processing” on the Consolidated Statements of Operations. The related current and long-term liabilities were presented on the Consolidated Balance Sheets in “Accrued liabilities” and “Transportation obligation,” respectively. Asset Retirement Obligations —Asset retirement obligations are related to the abandonment and site restoration requirements that result from the exploration and development of our oil and natural gas properties. We record the fair value of a liability for an asset retirement obligation in the period in which it is incurred and a corresponding increase in the carrying amount of the related long-lived asset. Accretion expense is included in “Depreciation, depletion and amortization” on our Consolidated Statements of Operations. See Note 2. The estimated fair value of the Company’s asset retirement obligations at inception is determined by utilizing the income approach by applying a credit-adjusted risk-free rate, which takes into account the Company’s credit risk, the time value of money, and the current economic state, to the undiscounted expected abandonment cash flows. Given the unobservable nature of the inputs, the measurement of the asset retirement obligations was classified as Level 3 in the fair value hierarchy. Revenue Recognition —Oil and natural gas revenues are recognized when production is sold to a purchaser at a fixed or determinable price, when delivery has occurred and title has transferred, and if collectability of the revenue is probable. Revenues from the production of crude oil and natural gas properties in which we have an interest with other producers are recognized using the entitlements method. We record a liability or an asset for natural gas balancing when we have sold more or less than our working interest share of natural gas production, respectively. At September 30, 2015 and December 31, 2014, the net liability for natural gas balancing was immaterial. Differences between actual production and net working interest volumes are routinely adjusted. Derivative Instruments —We use derivative instruments such as futures, forwards, options, collars and swaps for purposes of hedging our exposure to fluctuations in the price of crude oil and natural gas and to hedge our exposure to changing interest rates. Accounting standards related to derivative instruments and hedging activities require that all derivative instruments subject to the requirements of those standards be measured at fair value and recognized as assets or liabilities in the balance sheet. We offset the fair value of our asset and liability positions with the same counterparty for each commodity type. Changes in fair value are required to be recognized in earnings unless specific hedge accounting criteria are met. All our realized gain or losses on our derivative contracts are the result of cash settlements. We have not designated any of our derivative contracts as hedges; accordingly, changes in fair value are reflected in earnings. See Note 6. Income or Loss Per Share— Basic income (loss) per common share is computed by dividing net income (loss) applicable to common stockholders for each reporting period by the weighted-average number of common shares outstanding during the period. Diluted income (loss) per common share is computed by dividing net income (loss) applicable to common stockholders for each reporting period by the weighted average number of common shares outstanding during the period, plus the effects of potentially dilutive stock options, stock warrants and restricted stock calculated using the Treasury Stock method and the potential dilutive effect of the conversion of shares associated with our 5.375% Series B Convertible Preferred Stock (“Series B Preferred Stock”), 3.25% Convertible Senior Notes due 2026 (the “2026 Notes”), 5.0% Convertible Senior Notes due 2029 (the “2029 Notes”), and 5.0% Convertible Senior Notes due 2032 (the “2032 Notes”) and 2032 Exchange Notes. See Note 4. Commitments and Contingencies —Liabilities for loss contingencies, including environmental remediation costs, arising from claims, assessments, litigation, fines and penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. Recoveries from third parties, when probable of realization, are separately recorded and are not offset against the related environmental liability. Guarantees —On March 2, 2011, we issued and sold $275 million aggregate principal amount of our 8.875% Senior Notes due 2019 (the “2019 Notes”). Upon issuance of the guarantee related to the 2019 Notes, our subsidiary also became a guarantor on our outstanding 2029 Notes and our 2026 Notes, pursuant to the respective indentures governing the 2029 Notes and 2026 Notes. On August 26, 2013 and October 1, 2013, we issued $109.25 million and $57.0 million, respectively, aggregate principal amount of our 2032 Notes, which are also guaranteed by our subsidiary pursuant to the terms of the indenture governing the 2032 Notes. The 2019 Notes, 2029 Notes, 2026 Notes and 2032 Notes are guaranteed on a senior unsecured basis by our 100% owned subsidiary, Goodrich Petroleum Company, L.L.C. On March 12, 2015, we issued and sold $100 million aggregate principal amount of our Second Lien Notes and upon issuance our subsidiary became the guarantor of the Second Lien Notes under the governing indenture. On September 8, 2015, we issued $27.5 million aggregate principal amount of our 2032 Exchange Notes and, upon issuance, our subsidiary became the guarantor of the 2032 Exchange Notes under the governing indenture. Goodrich Petroleum Corporation, as the parent company (the “Parent Company”), has no independent assets or operations. The guarantees are full and unconditional, subject to customary exceptions pursuant to the indentures governing our 2019 Notes, 2026 Notes, 2029 Notes, 2032 Notes and 2032 Exchange Notes, as discussed below. The Parent Company has no other subsidiaries. In addition, there are no restrictions on the ability of the Parent Company to obtain funds from its subsidiary by dividend or loan. Finally, the Parent Company’s wholly-owned subsidiary does not have restricted assets that exceed 25% of net assets as of the most recent fiscal year end that may not be transferred to the Parent Company in the form of loans, advances or cash dividends by the subsidiary without the consent of a third party. Guarantees of the 2019 Notes will be released under certain circumstances, including in the event a Subsidiary Guarantor (as defined in the indenture governing the 2019 Notes) is sold or disposed of (whether by merger, consolidation, the sale of its capital stock or the sale of all or substantially all of its assets (other than by lease)) and whether or not the Subsidiary Guarantor is the surviving entity in such transaction to a person which is not the Parent Company or a Restricted Subsidiary of the Parent Company, such Subsidiary Guarantor will be released from its obligations under its Subsidiary Guarantee if the sale or other disposition does not violate the covenants described under “Limitation on Sales of Assets and Subsidiary Stock” in the indenture governing the 2019 Notes. In addition, a Subsidiary Guarantor will be released from its obligations under the indenture and its guarantee if such Subsidiary Guarantor ceases to guarantee any other indebtedness of the Parent Company or a Subsidiary Guarantor under a credit facility, and is not a borrower under the Senior Secured Credit Agreement, provided no Event of Default (as defined in the indenture governing the 2019 Notes) has occurred and is continuing; or if the Parent Company designates such subsidiary as an Unrestricted Subsidiary and such designation complies with the other applicable provisions of the indenture or if such subsidiary otherwise no longer meets the definition of a Restricted Subsidiary; or in connection with any covenant defeasance, legal defeasance or satisfaction and discharge of the 2019 Notes in accordance with the indenture. Guarantees of the 2032 Exchange Notes, 2032 Notes, 2029 Notes and 2026 Notes will be released if the Subsidiary Guarantor no longer guarantees the 2019 Notes, if the Subsidiary Guarantor is dissolved or liquidated, if the Subsidiary Guarantor is no longer the Parent Company’s subsidiary or upon satisfaction and discharge of the 2032 Exchange Notes, 2032 Notes, 2029 Notes or 2026 Notes in accordance with their respective indentures. Guarantees of the Second Lien Notes will be released under certain circumstances, including in the event the Subsidiary Guarantor is sold or disposed of (whether by merger, consolidation, the sale of its capital stock or the sale of all or substantially all of its assets (other than by lease)) and whether or not the Subsidiary Guarantor is the surviving entity in such transaction to a person which is not the Parent Company or a Restricted Subsidiary of the Parent Company, such Subsidiary Guarantor will be released from its obligations under its Subsidiary Guarantee if the sale or other disposition does not violate the covenants described under “Limitation on Sales of Assets and Subsidiary Stock” in the indenture governing the Second Lien Notes. In addition, a Subsidiary Guarantor will be released from its obligations under the indenture and its guarantee if such Subsidiary Guarantor ceases to guarantee any other indebtedness of the Parent Company or a Subsidiary Guarantor, provided no Event of Default (as defined in the indenture governing the Second Lien Notes) has occurred and is continuing; or if the Parent Company designates such subsidiary as an Unrestricted Subsidiary and such designation complies with the other applicable provisions of the indenture or if such subsidiary otherwise no longer meets the definition of a Restricted Subsidiary; or in connection with any covenant defeasance, legal defeasance or satisfaction and discharge of the Second Lien Notes in accordance with the indenture. New Accounting Pronouncements In August 2015, the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) . The ASU incorporates the SEC staff's announcement that clarifies the exclusion of line-of-credit arrangements from the scope of ASU 2015-03. Therefore, debt issuance costs related to line-of-credit arrangements can be deferred and presented as an asset that is subsequently amortized over the time of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. We are currently evaluating the provisions of this ASU and assessing the impact it may have on our consolidated financial statements. In April 2015, the FASB ASU In January 2015, the FASB issued ASU 2015-01, which eliminates the concept of “extraordinary” items from US GAAP. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted, provided that the guidance is applied from the beginning of the fiscal year of adoption. The adoption of this guidance is not expected to have an impact on our consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. This new standard requires management to perform interim and annual assessments of our ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. This ASU applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. In May 2014, the FASB issued ASU 2014-09 that introduces a new five-step revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This revenue standard was originally effective prospectively for annual reporting periods beginning after December 15, 2016, including interim periods. In July 2015, the FASB elected to defer its effective date by one year to December 15, 2017. Adoption as of the original effective date is permitted. We are currently evaluating the new guidance to determine the impact it will have on our consolidated financial statements.

Asset Retirement Obligations

Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2015
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	NOTE 2—Asset Retirement Obligations The reconciliation of the beginning and ending asset retirement obligation for the period ending September 30, 2015 is as follows (in thousands): September 30, 2015 Beginning balance at December 31, 2014 $ 6,510 Liabilities incurred 15 Revisions in estimated liabilities — Liabilities settled (62 ) Accretion expense 368 Dispositions (3,169 ) Ending balance $ 3,662 Current liability $ 83 Long term liability $ 3,579

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	NOTE 3—Debt Debt consisted of the following balances as of the dates indicated (in thousands): September 30, 2015 December 31, 2014 Principal Carrying Amount Fair Value (1) Principal Carrying Amount Fair Value (1) Senior Credit Facility $ 17,500 $ 17,500 $ 17,500 $ 121,000 $ 121,000 $ 121,000 8.0% Second Lien Senior Secured Notes due 2018 (2) 100,000 87,548 19,427 — — — 8.875% Senior Notes due 2019 275,000 275,000 53,424 275,000 275,000 136,125 3.25% Convertible Senior Notes due 2026 429 429 107 429 429 353 5.0% Convertible Senior Notes due 2029 (3) 6,692 6,692 402 6,692 6,692 3,480 5.0% Convertible Senior Notes due 2032 (4) 115,992 113,370 22,038 170,770 165,504 87,093 5.0% Convertible Exchange Notes due 2032 24,015 39,520 24,503 — — — Total debt $ 539,628 $ 540,059 $ 137,401 $ 573,891 $ 568,625 $ 348,051 (1) The carrying amount for the Second Amended and Restated Credit Agreement represents fair value as the variable interest rates are reflective of current market conditions. The fair values of the notes were obtained by direct market quotes within Level 1 of the fair value hierarchy. The fair value of our Second Lien Notes and 2032 Exchange Notes were obtained using a discounted cash flow model within Level 3 of the fair value hierarchy. ( 2 ) The debt discount is being amortized using the effective interest rate method based upon a two and a half year term through September 1, 2017, the first repurchase date applicable to the Second Lien Notes. The debt discount as of September 30, 2015 was $12.5 million. ( 3 ) The debt discount was amortized using the effective interest rate method based upon an original five year term through October 1, 2014. The debt discount was fully amortized as of December 31, 2014. (4) The debt discount is being amortized using the effective interest rate method based upon a four year term through October 1, 2017, the first repurchase date applicable to the 2032 Notes. The debt discount was $2.6 million and $5.3 million as of September 30, 2015 and December 31, 2014, respectively. The following table summarizes the total interest expense (contractual interest expense, accretion, amortization of debt discount and financing costs) and the effective interest rate on the liability component of the debt (amounts in thousands, except effective interest rates): Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2015 September 30, 2014 September 30, 2015 September, 2014 Effective Effective Effective Effective Interest Interest Interest Interest Interest Interest Interest Interest Expense Rate Expense Rate Expense Rate Expense Rate Senior Credit Facility $ 1,016 5.6 % $ 1,332 5.3 % $ 3,617 4.6 % $ 2,368 6.9 % 8.0% Second Lien Senior Secured Notes due 2018 3,598 16.2 % — — % 7,865 16.2 % — — % 8.875% Senior Notes due 2019 6,329 9.0 % 6,327 9.2 % 18,981 9.1 % 18,981 9.2 % 3.25% Convertible Senior Notes due 2026 3 3.3 % 4 3.3 % 10 3.3 % 11 3.3 % 5.0% Convertible Senior Notes due 2029 84 5.0 % 1,431 11.1 % 250 5.0 % 4,280 11.3 % 5.0% Convertible Senior Notes due 2032 3,255 8.5 % 3,551 8.7 % 10,414 8.5 % 10,634 8.7 % 5.0% Convertible Exchange Notes due 2032 1,285 * — — % 1,285 * — — % Other 13 * — — % 25 * — — % Total $ 15,583 $ 12,645 $ 42,447 $ 36,274 * - Not meaningful Senior Credit Facility Total lender commitments under the Senior Credit Facility are $600 million subject to a borrowing base limitation, which as of September 30, 2015 was $105 million. Pursuant to the terms of the Senior Credit Facility, borrowing base redeterminations occur on a semi-annual basis on April 1 and October 1. As of September 30, 2015, we had $17.5 million outstanding under the Senior Credit Facility and $4.0 million in cash. In February 2015, we entered into the Thirteenth Amendment to the Senior Credit Facility (the “Thirteenth Amendment”) with an effective date of February 26, 2015. On the effective date, the Thirteenth Amendment reduced our borrowing base to $200 million and extended the maturity of the Senior Credit Facility to February 24, 2017. In March 2015, we closed on $100 million of Second Lien Notes, which was used to pay down the amount drawn on our Senior Credit Facility. Our borrowing base was further reduced to $150 million upon the funding of the Second Lien Notes. On September 4, 2015, we closed on the sale of our Eagle Ford Shale Trend assets at which time the borrowing base was reduced to $105 million. In October 2015, we entered into the Fourteenth Amendment to the Senior Credit Facility (the “Fourteenth Amendment”) with an effective date of October 1, 2015. On the effective date, the Fourteenth Amendment reduced our borrowing base to $75 million in conjunction with the exchange of $158.2 million of our 2019 Notes for the issuance of $75.0 million of 8.875% Second Lien Notes due 2018. Interest on revolving borrowings under the Senior Credit Facility, as amended, accrues at a rate calculated, at our option, at the bank base rate plus 1.25% to 2.25% or LIBOR plus 2.25% to 3.25%, depending on borrowing base utilization. Substantially all of our assets are pledged as collateral to secure the Senior Credit Facility. The terms of the Senior Credit Facility require us to maintain certain covenants. Capitalized terms used here, but not defined, have the meanings assigned to them in the Senior Credit Facility. The primary financial covenants under the Thirteenth Amendment, included: · Current Ratio of 1.0/1.0; · Interest Coverage Ratio of EBITDAX of not less than 2.0/1.0 for the trailing four quarters EBITDAX. The interest for such period to apply solely to the cash portion of interest expense; and · Maximum Secured Debt no greater than 2.5 times EBITDAX for the trailing four quarters. As used in connection with the Senior Credit Facility, Current Ratio is consolidated current assets (including current availability under the Senior Credit Facility, but excluding non-cash assets related to our derivatives) to consolidated current liabilities (excluding non-cash liabilities related to our derivatives, accrued capital expenditures and current maturities under the Senior Credit Facility). As used in connection with the Senior Credit Facility, EBITDAX is earnings before interest expense, income tax, depreciation, depletion and amortization, exploration expense, stock based compensation and impairment of oil and natural gas properties. In calculating EBITDAX for this purpose, gains/losses on derivatives not designated as hedges, less net cash received (paid) in settlement of commodity derivatives are excluded from Adjusted EBITDAX. We were in compliance with all the financial covenants of the Senior Credit Facility as of September 30, 2015. On November 3, 2015, the Company entered into the Fifteenth Amendment to the Senior Credit Facility (the “Fifteenth Amendment”) with an effective date of November 3, 2015. The Fifteenth Amendment includes the following key elements: · affirms the borrowing base as $75 million, which constitutes the October 1 redetermination; · permits the Company to refinance the 2019 Notes by issuing second lien or third lien debt (provided that the principal amount of third lien debt may not exceed $50 million); · requires the Company to mortgage all of its oil and natural gas properties that constitute proved reserves; and · authorizes the administrative agent under the Senior Credit Facility to enter into an amended and restated intercreditor agreement setting forth the priority of the liens securing the obligations under the Senior Credit Agreement, the notes issued pursuant the Company’s second lien indentures and any third lien facility that the Company may enter into after the effective date. The Fifteenth Amendment also revised the Senior Credit Facility to include the following provisions and covenants: (i) Maximum First Lien Debt not greater than 1.25 times EBITDAX for the Trailing Twelve Months; (ii) Interest Coverage Ratio of EBITDAX of not less than 1.25 to 1.0 for the Trailing Twelve Months; (iii) No-hoarding provision of a maximum cash balance of $15 million at any time; (iv) No borrowed proceeds to redeem junior capital; (v) restricts the ability to declare, pay or distribute dividends on our preferred capital stock consistent with the terms of the 8.0% Second Lien Notes and the 8.875% Second Lien Notes; and (vi) the next redetermination date will be January 1, 2016. 8.0% Second Lien Senior Secured Notes due 2018 On March 12, 2015, we sold 100,000 units (the “Units”), each consisting of a $1,000 aggregate principal amount at maturity of our Second Lien Notes and one warrant to purchase 48.84 shares of our $0.20 par value common stock. The Second Lien Notes are guaranteed by our subsidiary that also guarantees our Senior Credit Facility. The Company received proceeds, before offering expenses payable by the Company, of $100 million from the sale of the Units. The proceeds from the issuance of the Second Lien Notes were used to repay borrowings under the Senior Credit Facility and for general corporate purposes. The Second Lien Notes are secured on a senior second-priority basis by liens on certain assets of the Company and its subsidiary that secures our Senior Credit Facility, which liens are subject to an inter-creditor agreement in favor of the lenders under the Senior Credit Facility. The Second Lien Notes mature on March 15, 2018. If the aggregate principal amount outstanding on the 2032 Notes on August 1, 2017 is more than $25.0 million then the outstanding amount of the Second Lien Notes shall be due on September 1, 2017. Interest on the Second Lien Notes is payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2015. We may redeem all or a portion of the Second Lien Notes at redemption prices (expressed as percentages of principal amount) equal to (i) 106% for the twelve-month period beginning on March 15, 2016 and (ii) 100% on or after March 15, 2017, in each case plus accrued and unpaid interest to the redemption date. Prior to March 15, 2016, we may redeem the Second Lien Notes at a customary “make-whole” premium. The indenture governing the Second Lien Notes restricts our ability and the ability of certain of our subsidiaries to: (i) incur additional debt; (ii) make certain dividends or pay dividends or distributions on our capital stock or purchase, redeem or retire such capital stock or our unsecured debt; (iii) sell assets, including the capital stock of our restricted subsidiaries; (iv) pay dividends or other payments of our restricted subsidiaries; (v) create liens that secure debt; (vi) enter into transactions with affiliates and (vii) merge or consolidate with another company. These covenants are subject to a number of important exceptions and qualifications. At any time when the Second Lien Notes are rated investment grade by both Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services and no Default (as defined in the indenture governing the Second Lien Notes) has occurred and is continuing, many of these covenants will terminate. The Second Lien Notes and the warrants became separately transferable on June 4, 2015 when a registration statement related to the resale of the warrants was declared effective by the SEC. The warrants are exercisable upon payment of the exercise price of $4.664 or convertible on a cashless basis as set forth in the agreement governing the warrants. Any warrants not exercised by March 12, 2025 will expire. In connection with the Second Lien Notes, we entered into a registration rights agreement that provides holders of the Second Lien Notes certain rights relating to registration of the Second Lien Notes under the Securities Act of 1933, as amended (the “Securities Act”). Pursuant to the registration rights agreement, the Company is obligated to file an exchange offer registration statement with the SEC with respect to an offer to exchange the Second Lien Notes for substantially identical notes that are registered under the Securities Act. We will use our reasonable best efforts to consummate the exchange offer by March 12, 2016. Additionally, we agreed to commence the exchange offer promptly after the exchange offer registration statement is declared effective by the SEC and use our reasonable best efforts to complete the exchange offer not later than 60 days after such effective date. Under certain circumstances, in lieu of a registered exchange offer, we have agreed to file a shelf registration statement with respect to the Second Lien Notes. If the exchange offer is not completed on or before March 12, 2016, or the shelf registration statement, if required, is not declared effective within the time periods specified in the Registration Rights Agreement, we have agreed to pay additional interest with respect to the Second Lien Notes in an amount of 0.25% of the principal amount of the Second Lien Notes per year for the first 90 days following such failure, increasing by 0.25% for each additional 90 days and not to exceed 1.00% of the principal amount per year, until the exchange offer is completed or the shelf registration statement is declared effective. As of the date of this filing, neither an exchange offer nor shelf registration statement for the Second Lien Notes has been filed with the SEC. We separately accounted for the liability and equity components of our Second Lien Notes in a manner that reflects our nonconvertible debt borrowing rate when interest is recognized in subsequent periods. We measured the debt component of the Second Lien Notes using a discount rate of 32% on the date of issuance. We attributed $84.6 million of the Second Lien Notes relative fair value to the debt component, which compared to the face value results in a debt discount of $15.4 million. Additionally, we recorded $15.4 million within additional paid-in capital representing the equity component of the Second Lien Notes. The debt discount will be amortized using the effective interest rate method through September 1, 2017 along with the applicable debt issuance costs. A debt discount of $12.5 million remains to be amortized on the Second Lien Notes as of September 30, 2015. 8.875% Senior Notes due 2019 On March 2, 2011, we sold $275 million of our 2019 Notes. The 2019 Notes mature on March 15, 2019, unless earlier redeemed or repurchased. The 2019 Notes are our senior unsecured obligations and rank equally in right of payment to all of our other existing and future unsecured indebtedness. The 2019 Notes accrue interest at a rate of 8.875% annually, and interest is paid semi-annually in arrears on March 15 and September 15. The 2019 Notes are guaranteed by our subsidiary that also guarantees our Senior Credit Facility. On October 1, 2015, we closed a privately-negotiated exchange under which we retired, in two tranches, $158.2 million in aggregate original principal amount of our outstanding 2019 Notes in exchange for the issuance of $75.0 million in aggregate original principal amount of our 8.875% Second Lien Senior Secured Notes due 2018 (the “New Second Lien Notes”) and 38,250 warrants. Each warrant is entitled to purchase approximately 156.9 shares of our $0.20 par value common stock for $1.00 per share. The New Second Lien Notes will mature on March 15, 2018. See Note 9 “Subsequent Event”. Following this exchange, approximately $116.8 million aggregate original principal amount of the 2019 Notes remain outstanding with terms unchanged. We may redeem all or a portion of the 2019 Notes at redemption prices (expressed as percentages of principal amount) equal to approximately (i) 104% for the twelve-month period beginning on March 15, 2015; (ii) 102% for the twelve-month period beginning on March 15, 2016 and (iii) 100% on or after March 15, 2017, in each case plus accrued and unpaid interest to the redemption date. The indenture governing the 2019 Notes restricts our ability and the ability of certain of our subsidiaries to: (i) incur additional debt; (ii) make certain dividends or pay dividends or distributions on our capital stock or purchase, redeem or retire such capital stock; (iii) sell assets, including the capital stock of our restricted subsidiaries; (iv) pay dividends or other payments of our restricted subsidiaries; (v) create liens that secure debt; (vi) enter into transactions with affiliates and (vii) merge or consolidate with another company. These covenants are subject to a number of important exceptions and qualifications. At any time when the 2019 Notes are rated investment grade by both Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services and no Default (as defined in the indenture governing the 2019 Notes) has occurred and is continuing, many of these covenants will terminate. 5.0% Convertible Senior Notes due 2029 In September 2009, we sold $218.5 million of our 2029 Notes. The 2029 Notes mature on October 1, 2029, unless earlier converted, redeemed or repurchased. We exchanged $166.7 million of the 2029 Notes for the 2032 Notes in 2013. On October 1, 2014, we repurchased $45.1 million of the 2029 Notes using restricted cash held in escrow for that purpose. The 2029 Notes are convertible into shares of our common stock at a rate equal to 28.8534 shares per $1,000 principal amount of 2029 Notes (equal to an initial conversion price of approximately $34.66 per share of common stock). As of September 30, 2015, $6.7 million in aggregate principal amount of the 2029 Notes remain outstanding. The 2029 Notes are our senior unsecured obligations and rank equally in right of payment to all of our other existing and future unsecured indebtedness. The 2029 Notes accrue interest at a rate of 5.0% annually, and interest is paid semi-annually in arrears on April 1 and October 1 of each year. Investors may convert their 2029 Notes at their option at any time prior to the close of business on the second business day immediately preceding the maturity date under the following circumstances: (i) during any fiscal quarter (and only during such fiscal quarter), if the last reported sale price of our common stock is greater than or equal to 135% of the conversion price of the 2029 Notes for at least 20 trading days in the period of 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter; (ii) if the 2029 Notes have been called for redemption or (iii) upon the occurrence of one of specified corporate transactions. Investors may also convert their 2029 Notes at their option at any time beginning on September 1, 2029, and ending at the close of business on the second business day immediately preceding the maturity date. We separately accounted for the liability and equity components of our 2029 Notes in a manner that reflected our nonconvertible debt borrowing rate when interest was recognized in subsequent periods. The debt discount was amortized using the effective interest rate method based upon an original five year term through October 1, 2014. The debt discount on the 2029 Notes was fully amortized as of December 31, 2014. 5.0% Convertible Senior Notes due 2032 As described above, we entered into separate, privately negotiated exchange agreements in which we retired $166.7 million in aggregate principal amount of our outstanding 2029 Notes in exchange for the issuance of the 2032 Notes in an aggregate principal amount of $166.3 million. The 2032 Notes will mature on October 1, 2032. On September 8, 2015, we closed a privately-negotiated exchange under which we retired $55.0 million in aggregate original principal amount of our outstanding 2032 Notes in exchange for our issuance of a new series of 5.0% Convertible Exchange Senior Notes due 2032 (the "2032 Exchange Notes") in an aggregate original principal amount of approximately $27.5 million. As of September 30, 2015, $111.3 million in aggregate principal amount of the 2032 Notes remained outstanding with terms unchanged. See the description of the 2032 Exchange Notes below. Also, see Note 10 for discussion on additional 2032 Note exchanges subsequent to September 30, 2015. Many terms of the 2032 Notes remain the same as the 2029 Notes they replaced, including the 5.0% annual cash interest rate and the conversion rate of 28.8534 shares of our common stock per $1,000 principal amount of 2032 Notes (equivalent to an initial conversion price of approximately $34.6580 per share of common stock), subject to adjustment in certain circumstances. Unlike the 2029 Notes, the principal amount of the 2032 Notes accretes at a rate of 2% per year commencing August 26, 2013, compounding on a semi-annual basis, until October 1, 2017. The accreted portion of the principal is payable in cash upon maturity but does not bear cash interest and is not convertible into our common stock. Holders have the option to require us to purchase any outstanding 2032 Notes on each of October 1, 2017, 2022 and 2027, at a price equal to 100% of the principal amount plus the accretion thereon. Accretion of principal is and will be reflected as a non-cash component of interest expense on our consolidated statement of operations during the term of the 2032 Notes. We recorded $0.8 million and $2.5 million of accretion in the three and nine months ended September 30, 2015, respectively. We have the right to redeem the 2032 Notes on or after October 1, 2016 at a price equal to 100% of the principal amount, plus accrued but unpaid interest and accretion thereon. The 2032 Notes also provide us with the option, at our election, to convert the new notes in whole or in part, prior to maturity, into the underlying common stock, provided the trading price of our common stock exceeds $45.06 (or 130% of the then applicable conversion price) for the required measurement period. If we elect to convert the 2032 Notes on or before October 1, 2016, holders will receive a make-whole premium. We separately accounted for the liability and equity components of our 2032 Notes in a manner that reflects our nonconvertible debt borrowing rate when interest is recognized in subsequent periods. We measured the debt component of the 2032 Notes using an effective interest rate of 8%. We attributed $158.8 million of the fair value to the 2032 Note debt component which compared to the face results in a debt discount of $7.5 million which will be amortized through the first put date of October 1, 2017. Additionally, we recorded $24.4 million within additional paid-in capital representing the equity component of the 2032 Notes. A debt discount of $2.6 million remains to be amortized on the 2032 Notes as of September 30, 2015. 5.0% Convertible Senior Exchange Notes due 2032 On September 8, 2015, we closed a privately-negotiated exchange under which we retired $55.0 million in principal amount of outstanding 2032 Notes in exchange for our issuance of approximately $27.5 million in aggregate original principal amount of 2032 Exchange Notes. Many terms of the 2032 Exchange Notes remain the same as the 2032 Notes they replaced, including the 5.0% annual cash interest rate and the final maturity date of October 1, 2032. Investors may convert their 2032 Exchange Notes at their option at any time prior to the close of business on the second business day immediately preceding the maturity date under the following circumstances: (1) if the 2032 Exchange Notes have been called for redemption or the Company exercises its option to convert the 2032 Exchange Notes, or (2) upon the occurrence of one of specified corporate transactions. The conversion rate is 500.00 shares per $1,000 principal amount of the 2032 Exchange Notes (equal to an initial conversion price of $2.00 per share of common stock), subject to adjustment. Like the 2032 Notes, the principal amount of the 2032 Exchange Notes will accrete at a rate of 2% per year from August 26, 2013, compounding on a semi-annual basis, until October 1, 2018. The accreted portion of the principal is payable in cash upon maturity but does not bear cash interest and is not convertible into our common stock. Holders have the option to require us to purchase any outstanding 2032 Exchange Notes on each of October 1, 2018, October 1, 2022 and October 1, 2027, at a price equal to 100% of the accreted principal amount thereof, plus accrued and unpaid interest on the original principal amount thereof. We have the right to redeem the 2032 Exchange Notes on or after October 1, 2017, at a price equal to 100% of the accreted principal amount thereof, plus accrued but unpaid interest on the original principal amount thereof. The 2032 Exchange Notes also provide us with the option to convert the 2032 Exchange Notes in whole or in part, prior to maturity, into the underlying common stock, provided the trading price of our common stock exceeds 125% of the then applicable conversion price for at least 20 trading days in any 30 trading day period. The initial conversion rate is 500 shares of common stock per $1,000 principal amount of 2032 Exchange Notes, subject to adjustment. Upon conversion, we must deliver, at our option, either (1) a number of shares of our common stock determined as set forth in the indenture related to the 2032 Exchange Notes, or (2) a combination of cash and shares of our common stock, if any. If the holders elect to convert the 2032 Exchange Notes on or before October 1, 2018, holders will receive a make-whole premium equal to (i) $100 per $1,000 face amount of the 2032 Exchange Notes if the conversion occurs prior to October 1, 2017 or (ii) $100 per $1,000 face amount of the 2032 Exchange Notes less an amount equal to 0.2778 multiplied by the number of days between September 30, 2017 and the conversion date, if the conversion occurs on or after October 1, 2017. We are accounting for this transaction as a troubled debt transaction pursuant to guidance provided by FASB Accounting Standards Codification (“ASC”) section 470-60 “Troubled Debt Restructurings by Debtors.” We have determined that the prospective undiscounted cash flows from the 2032 Exchange Notes through their maturity exceed the adjusted carrying amount of the retired 2032 Notes, consequently no gain for this exchange will be recorded. Accordingly, on the date of the exchange, a carrying amount of $45.2 million remained as a liability and we recorded $10.1 million to additional paid in capital representing the net fair value of the convert feature. An annual discount rate of 1.3% will be used to amortize the liability until maturity on October 1, 2032. Prior to September 30, 2015, holders converted an aggregate amount of $5.7 million of 2032 Exchange Notes into our common stock. As of September 30, 2015, $39.5 million aggregate principal amount of the 2032 Exchange Notes remained outstanding. 3.25% Convertible Senior Notes Due 2026 At September 30, 2015, $0.4 million of the 2026 Notes remained outstanding. Holders may present to us for redemption the remaining outstanding 2026 Notes on December 1, 2016 and December 1, 2021. Upon conversion, we have the option to deliver shares at the applicable conversion rate, redeem in cash or in certain circumstances redeem in a combination of cash and shares. The 2026 Notes are convertible into shares of our common stock at a rate equal to the sum of: (i ) 15.1653 shares per $1,000 principal amount of 2026 Notes (equal to a “base conversion price” of approximately $65.94 per share) plus (ii ) an additional amount of shares per $1,000 of principal amount of 2026 Notes equal to the incremental share factor 2.6762), multiplied by a fraction, the numerator of which is the applicable stock price less the “base conversion price” and the denominator of which is the applicable stock price.

Net Loss Per Common Share

Net Loss Per Common Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Net Loss Per Common Share	NOTE 4—Net Loss Per Common Share Net loss applicable to common stock was used as the numerator in computing basic and diluted loss per common share for the three and nine months ended September 30, 2015 and 2014. Included in Net loss applicable to common stock for the three and nine months ended September 30, 2015 is $7.4 million of preferred dividends that have been suspended in the third quarter of 2015. The suspended dividend amount is included in the 2015 Net loss applicable to common stock calculation for period-to-period comparison purposes only. The following table sets forth information related to the computations of basic and diluted loss per share: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (Amounts in thousands, except per share data) Basic and Diluted loss per share: Net loss applicable to common stock $ (25,226 ) $ (87,142 ) $ (92,843 ) $ (149,601 ) Weighted average shares of common stock outstanding 57,606 44,430 54,697 44,337 Basic and Diluted loss per share (1) (2) (3) $ (0.44 ) $ (1.96 ) $ (1.70 ) $ (3.37 ) (1) Common shares issuable upon assumed conversion of convertible preferred stock or dividends paid were not presented as they would have been anti-dilutive. 3,588 3,588 3,588 3,588 (2) Common shares issuable upon assumed conversion of the 2026 Notes, 2029 Notes, 2032 Exchange Notes and 2032 Notes or interest paid were not presented as they would have been anti-dilutive. 15,417 4,997 15,417 4,997 (3) Common shares issuable on assumed conversion of restricted stock, stock warrants and employee stock options were not included in the computation of diluted loss per common share since their inclusion would have been anti-dilutive. 9,217 2,307 9,217 2,307

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 5—Income Taxes We recorded no income tax expense or benefit for the three and nine months ended September 30, 2015. We increased our valuation allowance and reduced our net deferred tax assets to zero during 2009 after considering all available positive and negative evidence related to the realization of our deferred tax assets. Our assessment of the realization of our deferred tax assets has not changed, and as a result we continue to maintain a full valuation allowance for our net deferred assets as of September 30, 2015. As of September 30, 2015, we have no unrecognized tax benefits. There were no significant changes to the calculation since December 31, 2014.

Derivative Activities

Derivative Activities	9 Months Ended
	Sep. 30, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Activities	NOTE 6—Derivative Activities We use commodity and financial derivative contracts to manage fluctuations in commodity prices and interest rates. We are currently not designating our derivative contracts for hedge accounting. All derivative gains and losses from our derivative contracts have been recognized in “Other income (expense)” on our Consolidated Statements of Operations. The following table summarizes gains and losses we recognized on our oil and natural gas derivatives for the three and nine month periods ended September 30, 2015 and 2014. Three Months Ended Nine Months Ended September 30, September 30, Oil and Natural Gas Derivatives (in thousands) 2015 2014 2015 2014 Gain on derivatives not designated as hedges $ 7,882 $ 20,348 $ 6,338 $ 2,034 Commodity Derivative Activity We enter into swap contracts, costless collars or other derivative agreements from time to time to manage commodity price risk for a portion of our production. Our policy is that all hedges are approved by the Hedging Committee of our Board of Directors, and reviewed periodically by the Board of Directors. As of September 30, 2015, the commodity derivatives we used were in the form of: (a) swaps, where we receive a fixed price and pay a floating price, based on NYMEX for natural gas, Louisiana Light Sweet Crude (LLS Argus) for crude oil or specific transfer point quoted prices, and (b) calls, where we grant the counter party the option to buy an underlying commodity at a specified strike price, within a certain period. Despite the measures taken by us to attempt to control price risk, we remain subject to price fluctuations for natural gas and crude oil sold in the spot market. Prices received for natural gas sold on the spot market are volatile due primarily to seasonality of demand and other factors beyond our control. Decreases in domestic crude oil and natural gas spot prices will have a material adverse effect on our financial position, results of operations and quantities of reserves recoverable on an economic basis. We routinely exercise our contractual right to net realized gains against realized losses when settling with our financial counterparties. Neither our counterparties nor we require any collateral upon entering derivative contracts. We had exposure of $15.3 million in derivative fair value had our counterparties as a group been unable to fulfill their obligations as of September 30, 2015. As of September 30, 2015, our open positions on our outstanding commodity derivative contracts, all of which were with Royal Bank of Canada, Bank of Montreal, JPMorgan Chase Bank, N.A., Merrill Lynch Commodities, Inc. and Wells Fargo Bank, N.A., were as follows: Contract Type Daily Volume Remaining Volumes Fixed Price Fair Value at September 30, (in thousands) Natural gas calls (MMBtu) 2015 20,000 1,840,000 $5.05-5.06 $ (37 ) 2016 20,000 7,320,000 $5.05-5.06 (47 ) Oil swaps (BBL) 2015 (LLS Argus) 3,500 322,000 $94.55-98.10 15,309 Total $ 15,225 The following table summarizes the fair values of our derivative financial instruments that are recorded at fair value classified in each level as of September 30, 2015 (in thousands). We measure the fair value of our commodity derivative contracts by applying the income approach. See Note 1 “Description of Business and Significant Accounting Policies-Fair Value Measurement” for our discussion for inputs used and valuation techniques for determining fair values. September 30, 2015 Fair Value Measurements Using Description Level 1 Level 2 Level 3 Total Current Assets Commodity Derivatives $ — $ 15,309 $ — $ 15,309 Non-current Assets Commodity Derivatives — — — — Current Liabilities Commodity Derivatives — (37 ) — (37 ) Non-current Liabilities Commodity Derivatives — (47 ) — (47 ) Total $ — $ 15,225 $ — $ 15,225 We enter into oil and natural gas derivative contracts under which we have netting arrangements with each counter party. The following table discloses and reconciles the gross amounts to the amounts as presented on the Consolidated Balance Sheets for the periods ending September 30, 2015 and December 31, 2014. September 30, 2015 December 31, 2014 Fair Value of Oil and Natural Gas Derivatives (in thousands) Gross Amount Amount Offset As Presented Gross Amount Amount Offset As Presented Derivative Current Asset $ 15,309 $ — $ 15,309 $ 47,444 $ — $ 47,444 Derivative Non-current Asset — — — — — — Derivative Current Liability (37 ) — (37 ) (102 ) — (102 ) Derivative Non-current Liability (47 ) — (47 ) (464 ) — (464 ) Total $ 15,225 $ — $ 15,225 $ 46,878 $ — $ 46,878

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' Equity	NOTE 7—Stockholders’ Equity Common Stock Offering On March 10, 2015, we closed an underwritten public offering of 12 million shares of our common stock at $ 4.15 per share. Proceeds after offering expenses totaled approximately $47.5 million. The proceeds were used to repay borrowings under our Senior Credit Facility and for general corporate purposes. Warrants In connection with the issuance of the Second Lien Notes, we issued a detachable warrant for each $1,000 note. The holder of a warrant has the right to purchase 48.84 shares of our $0.20 par value common stock. The warrants were issued pursuant to a Warrant Agreement, dated March 12, 2015 (the “Warrant Agreement”), with American Stock Transfer & Trust Company LLC. Under the terms of the Warrant Agreement, the Second Lien Notes and the warrants were not separately transferable until the earliest of (i) 365 days after the date on which the warrants were originally issued; (ii) the date on which a registration statement related to the resale of the warrants was declared effective; (iii) the date on which a registration statement with respect to a registered exchange offer for the Second Lien Notes was declared effective; or (iv) in the event of the occurrence of a change of control (as defined in the governing indenture), the date on which requisite notice of such change of control was mailed to the holders of Second Lien Notes. Also, on March 12, 2015, we entered into a Registration Rights Agreement with the Purchaser that provides holders of the warrants certain rights to registration under the Securities Act relating to the Warrants. Pursuant to the Warrant Registration Rights Agreement, we were obligated to file a shelf registration statement with the SEC within 90 days of March 12, 2015, relating to re-sales of the Warrants. A Form S-3 was filed with the SEC on May 22, 2015 to register the resale of the warrants and the common stock issuable upon the conversion of such warrants. The Second Lien Notes and warrants became separately transferable on June 4, 2015 when the Form S-3 registration statement related to the resale of the warrants was declared effective by the SEC. The warrants are exercisable upon payment of the exercise price of $4.664 or convertible on a cashless basis as set forth in the agreement governing the warrants. Any warrants not exercised by March 12, 2025 will expire. Upon issuance, we valued the warrants as a separate financial instrument using the Black-Scholes model and recorded the $15.4 million relative fair value to Additional paid in capital on the Consolidated Balance Sheets. Conversions to Common Stock In September 2015, we issued 1.7 million shares of our common stock to holders that exercised their conversion rights on $3.5 million face amount of the 2032 Exchange Notes. We recorded the $5.7 million carrying amount of the converted 2032 Exchange Notes to stockholders equity. See Note 3. Preferred Stock Dividends Beginning in the third quarter of 2015 all preferred stock dividend declarations and payments have been suspended. If we fail to pay dividends on our 5.375% Series B Convertible Preferred Stock on any six dividend payment dates, whether or not consecutive, the dividend rate per annum will be increased by 1.0% until we have paid all dividends on our Series B Preferred Stock for all dividend periods up to and including the dividend payment date on which the accumulated and unpaid dividends are paid in full. If we fail to pay dividends for six or more quarterly periods, whether or not consecutive, on our 10% Series C Cumulative Preferred Stock or 9.75% Series D Cumulative Preferred Stock the holders will receive limited voting rights.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 8—Commitments and Contingencies On June 10, 2015, we entered into an eighteen month term agreement with a third party vendor which obligated us to purchase $11.4 million in pipe. We will receive and pay for approximately $0.6 million of pipe each month during the term of the agreement. Our obligation may be reduced subject to the vendor identifying an opportunity to sell the pipe to the open market. We have taken delivery of four shipments under this agreement and an $8.6 million commitment remained at September 30, 2015. As of September 30, 2015, we did not have any other changes in material commitments and contingencies, which includes outstanding and pending litigation.

Disposition

Disposition	9 Months Ended
	Sep. 30, 2015
Discontinued Operations And Disposal Groups [Abstract]
Disposition	NOTE 9 – Disposition On September 4, 2015 we closed the sale of our proved reserves and a portion of the associated leasehold

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	NOTE 10 – Subsequent Events On October 1, 2015, we closed on a separate privately-negotiated exchange under which we retired approximately million in aggregate original principal amount of our outstanding 2019 Notes in exchange for the issuance of $75.0 million in aggregate original principal amount of our New Second Lien Notes and 38,250 warrants. Each warrant is entitled to purchase approximately 156.9 shares of our par value common stock for $1.00 per share. We will account for this transaction as a troubled debt transaction pursuant to guidance provided by FASB ASC 470-60 “Troubled Debt Restructurings by Debtors”. We have determined that the prospective undiscounted cash flows from the New Second Lien Notes do not exceed the adjusted carrying amount of the retired 2019 Notes, consequently we will record an estimated $62.6 million gain on this transaction in the fourth quarter of 2015. We will also record an estimated $2.5 million in Additional Paid in Capital in the fourth quarter of 2015 representing the fair value of the warrants issued. On October 14, 2015, we closed a privately-negotiated exchange under which we retired approximately $17.1 million in aggregate original principal amount of our outstanding 2032 Notes in exchange for our issuance of additional 2032 Exchange Notes in an aggregate original principal amount of approximately $8.5 million. We will account for this transaction as a troubled debt transaction pursuant to guidance provided by FASB ASC 470-60 “Troubled Debt Restructurings by Debtors”. See Note 3 “Debt” under the caption “ 5.0% Convertible Senior Exchange Notes due 2032 .”

Description of Business and S16

Description of Business and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation — The consolidated financial statements of the Company included in this Quarterly Report on Form 10-Q have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and accordingly, certain information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) has been condensed or omitted. The consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiary. Intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements reflect all normal recurring adjustments that, in the opinion of management, are necessary for a fair presentation. Certain data in prior periods’ financial statements have been adjusted to conform to the presentation of the current period. We have evaluated subsequent events through the date of this filing.
Use of Estimates	Use of Estimates — Our management has made a number of estimates and assumptions relating to the reporting of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities to prepare these consolidated financial statements in conformity with US GAAP.
Cash and Cash Equivalents	Cash and Cash Equivalents —Cash and cash equivalents includes cash on hand, demand deposit accounts and temporary cash investments with maturities of ninety days or less at the date of purchase.
Property and Equipment	Property and Equipment —As of September 30, 2015, we had interests in oil and natural gas properties totaling $ 530.9 million, net of accumulated depletion, which we account for under the successful efforts method. Under this method, costs of acquiring unproved and proved oil and natural gas leasehold acreage are capitalized. When proved reserves are found on an unproved property, the associated leasehold cost is transferred to proved properties. Significant unproved leases are reviewed periodically, and a valuation allowance is provided for any estimated decline in value. Costs of all other unproved leases are amortized over the estimated average holding period of the leases. Development costs are capitalized, including the costs of unsuccessful development wells.
Impairment	Impairment —We periodically assess our long-lived assets recorded in oil and natural gas properties on the Consolidated Balance Sheets to ensure that they are not carried in excess of fair value, which is computed using Level 3 inputs such as discounted cash flow models or valuations, based on estimated future commodity prices and our various operational assumptions. An evaluation is performed on a field-by-field basis at least annually or whenever changes in facts and circumstances indicate that our oil and natural gas properties may be impaired. To determine if a field is impaired, we compare the carrying value of the field to the undiscounted future net cash flows by applying management’s estimates of proved reserves, future oil and natural gas prices, future production of oil and natural gas reserves and future operating costs over the economic life of the property. In addition, other factors such as probable and possible reserves are taken into consideration when justified by economic conditions. For each property determined to be impaired, we recognize an impairment loss equal to the difference between the estimated fair value and the carrying value of the field. Fair value is estimated to be the present value of expected future net cash flows. Any impairment charge incurred is recorded in accumulated depletion, depreciation and amortization to reduce the carrying value of the field. Each part of this calculation is subject to a large degree of judgment, including the determination of the fields’ estimated reserves, future cash flows and fair value. During the third quarter of 2015 there was an indication, due to declines in estimated proved reserves, the carrying amount of certain of our natural gas properties was not recoverable from future cash flows. We recorded an impairment of $32.5 million for the three and nine months ended September 30, 2015. The impairment charge reduced the fields’ carrying value to an estimated fair value of $7.8 million. Estimated fair value was measured using the income approach with Level 3 inputs. No impairments were recorded for the three months ended March 31, 2015 or June 30, 2015.
Fair Value Measurement	Fair Value Measurement —Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of an asset should reflect its highest and best use by market participants, whether in-use or an in-exchange valuation premise. The fair value of a liability should reflect the risk of nonperformance, which includes, among other things, our credit risk. We use various methods, including the income approach and market approach, to determine the fair values of our financial instruments that are measured at fair value on a recurring basis, which depend on a number of factors, including the availability of observable market data over the contractual term of the underlying instrument. For some of our instruments, the fair value is calculated based on directly observable market data or data available for similar instruments in similar markets. For other instruments, the fair value may be calculated based on these inputs as well as other assumptions related to estimates of future settlements of these instruments. We separate our financial instruments into three levels (Levels 1, 2 and 3) based on our assessment of the availability of observable market data and the significance of non-observable data used to determine the fair value of our instruments. Our assessment of an instrument can change over time based on the maturity or liquidity of the instrument, which could result in a change in the classification of the instruments between levels. Each of these levels and our corresponding instruments classified by level are further described below: · Level 1 Inputs— unadjusted quoted market prices in active markets for identical assets or liabilities. Included in this level are our senior notes; · Level 2 Inputs— quotes which are derived principally from or corroborated by observable market data. Included in this level are our bank debt and commodity derivatives whose fair values are based on third-party quotes or available interest rate information and commodity pricing data obtained from third party pricing sources and our creditworthiness or that of our counterparties; and · Level 3 Inputs— unobservable inputs for the asset or liability, such as discounted cash flow models or valuations, based on our various assumptions and future commodity prices. Included in this level would be acquisitions and impairments of oil and natural gas properties, our 5.0% Convertible Exchange Senior Notes due 2032 (the “2032 Exchange Notes”) and our 8.0% Second Lien Senior Secured Notes due 2018 (the “Second Lien Notes”). As of September 30, 2015 and December 31, 2014, the carrying amounts of our cash and cash equivalents, trade receivables and payables represented fair value because of the short-term nature of these instruments. The following table summarizes the fair value of our financial instruments and long lived assets that are recorded or disclosed at fair value classified in each level as of September 30, 2015: Fair Value Measurements as of September 30, 2015 (in thousands) Description Level 1 Level 2 Level 3 Total Recurring Fair Value Measurements Commodity derivatives (see Note 6) $ — $ 15,225 $ — $ 15,225 Debt (see Note 3) (75,864 ) (17,607 ) (43,930 ) (137,401 ) Total recurring fair value measurements $ (75,864 ) $ (2,382 ) $ (43,930 ) $ (122,176 ) Nonrecurring Fair Value Measurements Impaired natural gas properties $ — $ — $ 7,785 $ 7,785
Depreciation	Depreciation— Depreciation and depletion of producing oil and natural gas properties is calculated using the units-of-production method. Proved developed reserves are used to compute unit rates for unamortized tangible and intangible development costs, and proved reserves are used for unamortized leasehold costs. Gains and losses on disposals or retirements that are significant or include an entire depreciable or depletable property unit are included in operating income. Depreciation of furniture, fixtures and equipment, consisting of office furniture, computer hardware and software and leasehold improvements, is computed using the straight-line method over their estimated useful lives, which vary from three to five years
Transportation Obligation	Transportation Obligation —We entered into a natural gas gathering agreement with an independent service provider, effective July 27, 2010. The agreement was scheduled to remain in effect for a period of ten years and required the service provider to construct pipelines and facilities to connect our wells to the service provider’s gathering system in our Eagle Ford Shale Trend area of South Texas. In compensation for the services, we agreed to pay the service provider 110% of the total capital cost incurred by the service provider to construct new pipelines and facilities. The service provider billed us for 20% of the accumulated unpaid capital costs annually. This obligation was relieved upon the sale of our Eagle Ford Shale Trend properties in September 2015, however we are obligated to pay the 2015 annual billing. As a result, the transportation obligation liability was reduced to $1.5 million as of September 30, 2015. The obligation totaled $5.4 million as of December 31, 2014. We accounted for the agreement by recording a long-term asset, included in “Deferred financing cost and other” on the Consolidated Balance Sheets. The asset was being amortized using the units-of-production method and the amortization expense was included in “Transportation and processing” on the Consolidated Statements of Operations. The related current and long-term liabilities were presented on the Consolidated Balance Sheets in “Accrued liabilities” and “Transportation obligation,” respectively.
Asset Retirement Obligations	Asset Retirement Obligations —Asset retirement obligations are related to the abandonment and site restoration requirements that result from the exploration and development of our oil and natural gas properties. We record the fair value of a liability for an asset retirement obligation in the period in which it is incurred and a corresponding increase in the carrying amount of the related long-lived asset. Accretion expense is included in “Depreciation, depletion and amortization” on our Consolidated Statements of Operations. See Note 2. The estimated fair value of the Company’s asset retirement obligations at inception is determined by utilizing the income approach by applying a credit-adjusted risk-free rate, which takes into account the Company’s credit risk, the time value of money, and the current economic state, to the undiscounted expected abandonment cash flows. Given the unobservable nature of the inputs, the measurement of the asset retirement obligations was classified as Level 3 in the fair value hierarchy.
Revenue Recognition	Revenue Recognition —Oil and natural gas revenues are recognized when production is sold to a purchaser at a fixed or determinable price, when delivery has occurred and title has transferred, and if collectability of the revenue is probable. Revenues from the production of crude oil and natural gas properties in which we have an interest with other producers are recognized using the entitlements method. We record a liability or an asset for natural gas balancing when we have sold more or less than our working interest share of natural gas production, respectively. At September 30, 2015 and December 31, 2014, the net liability for natural gas balancing was immaterial. Differences between actual production and net working interest volumes are routinely adjusted.
Derivative Instruments	Derivative Instruments —We use derivative instruments such as futures, forwards, options, collars and swaps for purposes of hedging our exposure to fluctuations in the price of crude oil and natural gas and to hedge our exposure to changing interest rates. Accounting standards related to derivative instruments and hedging activities require that all derivative instruments subject to the requirements of those standards be measured at fair value and recognized as assets or liabilities in the balance sheet. We offset the fair value of our asset and liability positions with the same counterparty for each commodity type. Changes in fair value are required to be recognized in earnings unless specific hedge accounting criteria are met. All our realized gain or losses on our derivative contracts are the result of cash settlements. We have not designated any of our derivative contracts as hedges; accordingly, changes in fair value are reflected in earnings. See Note 6.
Income or Loss Per Share	Income or Loss Per Share— Basic income (loss) per common share is computed by dividing net income (loss) applicable to common stockholders for each reporting period by the weighted-average number of common shares outstanding during the period. Diluted income (loss) per common share is computed by dividing net income (loss) applicable to common stockholders for each reporting period by the weighted average number of common shares outstanding during the period, plus the effects of potentially dilutive stock options, stock warrants and restricted stock calculated using the Treasury Stock method and the potential dilutive effect of the conversion of shares associated with our 5.375% Series B Convertible Preferred Stock (“Series B Preferred Stock”), 3.25% Convertible Senior Notes due 2026 (the “2026 Notes”), 5.0% Convertible Senior Notes due 2029 (the “2029 Notes”), and 5.0% Convertible Senior Notes due 2032 (the “2032 Notes”) and 2032 Exchange Notes. See Note 4.
Commitments and Contingencies	Commitments and Contingencies —Liabilities for loss contingencies, including environmental remediation costs, arising from claims, assessments, litigation, fines and penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. Recoveries from third parties, when probable of realization, are separately recorded and are not offset against the related environmental liability.
Guarantees	Guarantees —On March 2, 2011, we issued and sold $ 275 million aggregate principal amount of our 8.875% Senior Notes due 2019 (the “2019 Notes”). Upon issuance of the guarantee related to the 2019 Notes, our subsidiary also became a guarantor on our outstanding 2029 Notes and our 2026 Notes, pursuant to the respective indentures governing the 2029 Notes and 2026 Notes. On August 26, 2013 and October 1, 2013, we issued $109.25 million and $57.0 million, respectively, aggregate principal amount of our 2032 Notes, which are also guaranteed by our subsidiary pursuant to the terms of the indenture governing the 2032 Notes. The 2019 Notes, 2029 Notes, 2026 Notes and 2032 Notes are guaranteed on a senior unsecured basis by our 100% owned subsidiary, Goodrich Petroleum Company, L.L.C. On March 12, 2015, we issued and sold $100 million aggregate principal amount of our Second Lien Notes and upon issuance our subsidiary became the guarantor of the Second Lien Notes under the governing indenture. On September 8, 2015, we issued $27.5 million aggregate principal amount of our 2032 Exchange Notes and, upon issuance, our subsidiary became the guarantor of the 2032 Exchange Notes under the governing indenture. Goodrich Petroleum Corporation, as the parent company (the “Parent Company”), has no independent assets or operations. The guarantees are full and unconditional, subject to customary exceptions pursuant to the indentures governing our 2019 Notes, 2026 Notes, 2029 Notes, 2032 Notes and 2032 Exchange Notes, as discussed below. The Parent Company has no other subsidiaries. In addition, there are no restrictions on the ability of the Parent Company to obtain funds from its subsidiary by dividend or loan. Finally, the Parent Company’s wholly-owned subsidiary does not have restricted assets that exceed 25% of net assets as of the most recent fiscal year end that may not be transferred to the Parent Company in the form of loans, advances or cash dividends by the subsidiary without the consent of a third party. Guarantees of the 2019 Notes will be released under certain circumstances, including in the event a Subsidiary Guarantor (as defined in the indenture governing the 2019 Notes) is sold or disposed of (whether by merger, consolidation, the sale of its capital stock or the sale of all or substantially all of its assets (other than by lease)) and whether or not the Subsidiary Guarantor is the surviving entity in such transaction to a person which is not the Parent Company or a Restricted Subsidiary of the Parent Company, such Subsidiary Guarantor will be released from its obligations under its Subsidiary Guarantee if the sale or other disposition does not violate the covenants described under “Limitation on Sales of Assets and Subsidiary Stock” in the indenture governing the 2019 Notes. In addition, a Subsidiary Guarantor will be released from its obligations under the indenture and its guarantee if such Subsidiary Guarantor ceases to guarantee any other indebtedness of the Parent Company or a Subsidiary Guarantor under a credit facility, and is not a borrower under the Senior Secured Credit Agreement, provided no Event of Default (as defined in the indenture governing the 2019 Notes) has occurred and is continuing; or if the Parent Company designates such subsidiary as an Unrestricted Subsidiary and such designation complies with the other applicable provisions of the indenture or if such subsidiary otherwise no longer meets the definition of a Restricted Subsidiary; or in connection with any covenant defeasance, legal defeasance or satisfaction and discharge of the 2019 Notes in accordance with the indenture. Guarantees of the 2032 Exchange Notes, 2032 Notes, 2029 Notes and 2026 Notes will be released if the Subsidiary Guarantor no longer guarantees the 2019 Notes, if the Subsidiary Guarantor is dissolved or liquidated, if the Subsidiary Guarantor is no longer the Parent Company’s subsidiary or upon satisfaction and discharge of the 2032 Exchange Notes, 2032 Notes, 2029 Notes or 2026 Notes in accordance with their respective indentures. Guarantees of the Second Lien Notes will be released under certain circumstances, including in the event the Subsidiary Guarantor is sold or disposed of (whether by merger, consolidation, the sale of its capital stock or the sale of all or substantially all of its assets (other than by lease)) and whether or not the Subsidiary Guarantor is the surviving entity in such transaction to a person which is not the Parent Company or a Restricted Subsidiary of the Parent Company, such Subsidiary Guarantor will be released from its obligations under its Subsidiary Guarantee if the sale or other disposition does not violate the covenants described under “Limitation on Sales of Assets and Subsidiary Stock” in the indenture governing the Second Lien Notes. In addition, a Subsidiary Guarantor will be released from its obligations under the indenture and its guarantee if such Subsidiary Guarantor ceases to guarantee any other indebtedness of the Parent Company or a Subsidiary Guarantor, provided no Event of Default (as defined in the indenture governing the Second Lien Notes) has occurred and is continuing; or if the Parent Company designates such subsidiary as an Unrestricted Subsidiary and such designation complies with the other applicable provisions of the indenture or if such subsidiary otherwise no longer meets the definition of a Restricted Subsidiary; or in connection with any covenant defeasance, legal defeasance or satisfaction and discharge of the Second Lien Notes in accordance with the indenture.
New Accounting Pronouncements	New Accounting Pronouncements In August 2015, the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) . The ASU incorporates the SEC staff's announcement that clarifies the exclusion of line-of-credit arrangements from the scope of ASU 2015-03. Therefore, debt issuance costs related to line-of-credit arrangements can be deferred and presented as an asset that is subsequently amortized over the time of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. We are currently evaluating the provisions of this ASU and assessing the impact it may have on our consolidated financial statements. In April 2015, the FASB ASU In January 2015, the FASB issued ASU 2015-01, which eliminates the concept of “extraordinary” items from US GAAP. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted, provided that the guidance is applied from the beginning of the fiscal year of adoption. The adoption of this guidance is not expected to have an impact on our consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. This new standard requires management to perform interim and annual assessments of our ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. This ASU applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. In May 2014, the FASB issued ASU 2014-09 that introduces a new five-step revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This revenue standard was originally effective prospectively for annual reporting periods beginning after December 15, 2016, including interim periods. In July 2015, the FASB elected to defer its effective date by one year to December 15, 2017. Adoption as of the original effective date is permitted. We are currently evaluating the new guidance to determine the impact it will have on our consolidated financial statements.

Description of Business and S17

Description of Business and Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Fair Value of Financial Instruments and Long Lived Assets	The following table summarizes the fair value of our financial instruments and long lived assets that are recorded or disclosed at fair value classified in each level as of September 30, 2015: Fair Value Measurements as of September 30, 2015 (in thousands) Description Level 1 Level 2 Level 3 Total Recurring Fair Value Measurements Commodity derivatives (see Note 6) $ — $ 15,225 $ — $ 15,225 Debt (see Note 3) (75,864 ) (17,607 ) (43,930 ) (137,401 ) Total recurring fair value measurements $ (75,864 ) $ (2,382 ) $ (43,930 ) $ (122,176 ) Nonrecurring Fair Value Measurements Impaired natural gas properties $ — $ — $ 7,785 $ 7,785

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2015
Asset Retirement Obligation Disclosure [Abstract]
Reconciliation of Asset Retirement Obligations	The reconciliation of the beginning and ending asset retirement obligation for the period ending September 30, 2015 is as follows (in thousands): September 30, 2015 Beginning balance at December 31, 2014 $ 6,510 Liabilities incurred 15 Revisions in estimated liabilities — Liabilities settled (62 ) Accretion expense 368 Dispositions (3,169 ) Ending balance $ 3,662 Current liability $ 83 Long term liability $ 3,579

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Components of Debt	Debt consisted of the following balances as of the dates indicated (in thousands): September 30, 2015 December 31, 2014 Principal Carrying Amount Fair Value (1) Principal Carrying Amount Fair Value (1) Senior Credit Facility $ 17,500 $ 17,500 $ 17,500 $ 121,000 $ 121,000 $ 121,000 8.0% Second Lien Senior Secured Notes due 2018 (2) 100,000 87,548 19,427 — — — 8.875% Senior Notes due 2019 275,000 275,000 53,424 275,000 275,000 136,125 3.25% Convertible Senior Notes due 2026 429 429 107 429 429 353 5.0% Convertible Senior Notes due 2029 (3) 6,692 6,692 402 6,692 6,692 3,480 5.0% Convertible Senior Notes due 2032 (4) 115,992 113,370 22,038 170,770 165,504 87,093 5.0% Convertible Exchange Notes due 2032 24,015 39,520 24,503 — — — Total debt $ 539,628 $ 540,059 $ 137,401 $ 573,891 $ 568,625 $ 348,051 (1) The carrying amount for the Second Amended and Restated Credit Agreement represents fair value as the variable interest rates are reflective of current market conditions. The fair values of the notes were obtained by direct market quotes within Level 1 of the fair value hierarchy. The fair value of our Second Lien Notes and 2032 Exchange Notes were obtained using a discounted cash flow model within Level 3 of the fair value hierarchy. ( 2 ) The debt discount is being amortized using the effective interest rate method based upon a two and a half year term through September 1, 2017, the first repurchase date applicable to the Second Lien Notes. The debt discount as of September 30, 2015 was $12.5 million. ( 3 ) The debt discount was amortized using the effective interest rate method based upon an original five year term through October 1, 2014. The debt discount was fully amortized as of December 31, 2014. (4) The debt discount is being amortized using the effective interest rate method based upon a four year term through October 1, 2017, the first repurchase date applicable to the 2032 Notes. The debt discount was $2.6 million and $5.3 million as of September 30, 2015 and December 31, 2014, respectively.
Summary of Total Interest Expense and Effective Interest Rate on Debt	The following table summarizes the total interest expense (contractual interest expense, accretion, amortization of debt discount and financing costs) and the effective interest rate on the liability component of the debt (amounts in thousands, except effective interest rates): Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2015 September 30, 2014 September 30, 2015 September, 2014 Effective Effective Effective Effective Interest Interest Interest Interest Interest Interest Interest Interest Expense Rate Expense Rate Expense Rate Expense Rate Senior Credit Facility $ 1,016 5.6 % $ 1,332 5.3 % $ 3,617 4.6 % $ 2,368 6.9 % 8.0% Second Lien Senior Secured Notes due 2018 3,598 16.2 % — — % 7,865 16.2 % — — % 8.875% Senior Notes due 2019 6,329 9.0 % 6,327 9.2 % 18,981 9.1 % 18,981 9.2 % 3.25% Convertible Senior Notes due 2026 3 3.3 % 4 3.3 % 10 3.3 % 11 3.3 % 5.0% Convertible Senior Notes due 2029 84 5.0 % 1,431 11.1 % 250 5.0 % 4,280 11.3 % 5.0% Convertible Senior Notes due 2032 3,255 8.5 % 3,551 8.7 % 10,414 8.5 % 10,634 8.7 % 5.0% Convertible Exchange Notes due 2032 1,285 * — — % 1,285 * — — % Other 13 * — — % 25 * — — % Total $ 15,583 $ 12,645 $ 42,447 $ 36,274 * - Not meaningful

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Computation of Net Income (Loss) Per Common Share	The following table sets forth information related to the computations of basic and diluted loss per share: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (Amounts in thousands, except per share data) Basic and Diluted loss per share: Net loss applicable to common stock $ (25,226 ) $ (87,142 ) $ (92,843 ) $ (149,601 ) Weighted average shares of common stock outstanding 57,606 44,430 54,697 44,337 Basic and Diluted loss per share (1) (2) (3) $ (0.44 ) $ (1.96 ) $ (1.70 ) $ (3.37 ) (1) Common shares issuable upon assumed conversion of convertible preferred stock or dividends paid were not presented as they would have been anti-dilutive. 3,588 3,588 3,588 3,588 (2) Common shares issuable upon assumed conversion of the 2026 Notes, 2029 Notes, 2032 Exchange Notes and 2032 Notes or interest paid were not presented as they would have been anti-dilutive. 15,417 4,997 15,417 4,997 (3) Common shares issuable on assumed conversion of restricted stock, stock warrants and employee stock options were not included in the computation of diluted loss per common share since their inclusion would have been anti-dilutive. 9,217 2,307 9,217 2,307

Derivative Activities (Tables)

Derivative Activities (Tables)	9 Months Ended
	Sep. 30, 2015
Summary of Gains and Losses on Derivatives	The following table summarizes gains and losses we recognized on our oil and natural gas derivatives for the three and nine month periods ended September 30, 2015 and 2014. Three Months Ended Nine Months Ended September 30, September 30, Oil and Natural Gas Derivatives (in thousands) 2015 2014 2015 2014 Gain on derivatives not designated as hedges $ 7,882 $ 20,348 $ 6,338 $ 2,034
Outstanding Commodity Derivative Contracts	As of September 30, 2015, our open positions on our outstanding commodity derivative contracts, all of which were with Royal Bank of Canada, Bank of Montreal, JPMorgan Chase Bank, N.A., Merrill Lynch Commodities, Inc. and Wells Fargo Bank, N.A., were as follows: Contract Type Daily Volume Remaining Volumes Fixed Price Fair Value at September 30, (in thousands) Natural gas calls (MMBtu) 2015 20,000 1,840,000 $5.05-5.06 $ (37 ) 2016 20,000 7,320,000 $5.05-5.06 (47 ) Oil swaps (BBL) 2015 (LLS Argus) 3,500 322,000 $94.55-98.10 15,309 Total $ 15,225
Derivative Assets and Liabilities Recorded at Fair Value	The following table summarizes the fair values of our derivative financial instruments that are recorded at fair value classified in each level as of September 30, 2015 (in thousands). We measure the fair value of our commodity derivative contracts by applying the income approach. See Note 1 “Description of Business and Significant Accounting Policies-Fair Value Measurement” for our discussion for inputs used and valuation techniques for determining fair values. September 30, 2015 Fair Value Measurements Using Description Level 1 Level 2 Level 3 Total Current Assets Commodity Derivatives $ — $ 15,309 $ — $ 15,309 Non-current Assets Commodity Derivatives — — — — Current Liabilities Commodity Derivatives — (37 ) — (37 ) Non-current Liabilities Commodity Derivatives — (47 ) — (47 ) Total $ — $ 15,225 $ — $ 15,225
Derivative
Derivative Assets and Liabilities Recorded at Fair Value	The following table discloses and reconciles the gross amounts to the amounts as presented on the Consolidated Balance Sheets for the periods ending September 30, 2015 and December 31, 2014. September 30, 2015 December 31, 2014 Fair Value of Oil and Natural Gas Derivatives (in thousands) Gross Amount Amount Offset As Presented Gross Amount Amount Offset As Presented Derivative Current Asset $ 15,309 $ — $ 15,309 $ 47,444 $ — $ 47,444 Derivative Non-current Asset — — — — — — Derivative Current Liability (37 ) — (37 ) (102 ) — (102 ) Derivative Non-current Liability (47 ) — (47 ) (464 ) — (464 ) Total $ 15,225 $ — $ 15,225 $ 46,878 $ — $ 46,878

Description of Business and S22

Description of Business and Significant Accounting Policies - Additional Information (Detail) - USD ($)	Oct. 14, 2015	Oct. 02, 2015	Sep. 08, 2015	Mar. 10, 2015	Oct. 01, 2013	Aug. 26, 2013	Mar. 02, 2011	Oct. 31, 2015	Sep. 30, 2015		Oct. 31, 2015	Sep. 30, 2015		Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014	Dec. 31, 2014		Dec. 31, 2013	Mar. 12, 2015	Sep. 30, 2009
Description Of Company And Significant Accounting Policies [Line Items]
Proceeds from Second Lien Notes																	$ 100,000,000
Net proceeds from public offering of common stock				$ 47,481,000													47,481,000
Common stock issued in public offering				12,000,000
Debt instrument, principal amount									$ 539,628,000			$ 539,628,000					539,628,000			$ 573,891,000
Interests in oil and gas properties, net of accumulated depletion									530,900,000			530,900,000					530,900,000
Impairment												32,487,000		$ 0	$ 0	$ 85,339,000	32,487,000		$ 85,339,000
Impaired oil and natural gas properties									7,800,000			7,800,000					$ 7,800,000
Natural gas gathering agreement period																	10 years
Percentage paid to service provider																	110.00%
Percentage of accumulated capital costs charged annually																	20.00%
Transportation obligation liability									1,500,000			1,500,000					$ 1,500,000			$ 5,400,000
Preferred stock, dividend rate, percentage																	5.375%
Proceeds from sale of assets																	$ 104,850,000		$ 625,000
Eagle Ford Shale Trend
Description Of Company And Significant Accounting Policies [Line Items]
Proceeds from sale of assets									101,600,000			101,600,000
Amount held in escrow									$ 14,400,000			$ 14,400,000					$ 14,400,000
Maximum Wholly-owned subsidiary
Description Of Company And Significant Accounting Policies [Line Items]
Percentage of restricted assets that may not be transferred to the parent company									25.00%			25.00%					25.00%
Subsequent Event
Description Of Company And Significant Accounting Policies [Line Items]
Reduction in annual cash interest								$ 7,400,000			$ 1,800,000
Minimum
Description Of Company And Significant Accounting Policies [Line Items]
Percentage of Staff Headcount Reduced																				30.00%
Furniture, fixtures and equipment estimated useful lives																	3 years
Maximum
Description Of Company And Significant Accounting Policies [Line Items]
Furniture, fixtures and equipment estimated useful lives																	5 years
Senior Credit Facility
Description Of Company And Significant Accounting Policies [Line Items]
Maturity date of credit facility																	Feb. 24, 2017
8.0% Second Lien Senior Secured Notes due 2018
Description Of Company And Significant Accounting Policies [Line Items]
Proceeds from Second Lien Notes																	$ 100,000,000
Debt instrument, principal amount									$ 100,000,000	[1]		$ 100,000,000	[1]		$ 100,000,000		$ 100,000,000	[1]					$ 100,000,000
Debt instrument interest rate									8.00%			8.00%					8.00%
Debt instruments maturity date																	2,018
Percentage owned in subsidiary																							100.00%
8.0% Second Lien Senior Secured Notes due 2018 | Subsequent Event
Description Of Company And Significant Accounting Policies [Line Items]
Debt instrument interest rate		8.00%
5.0% Senior Convertible Notes due 2032
Description Of Company And Significant Accounting Policies [Line Items]
Aggregate principal amount retired			$ 55,000,000
Debt instrument, principal amount					$ 57,000,000	$ 109,250,000			$ 115,992,000	[2]		$ 115,992,000	[2]				$ 115,992,000	[2]		$ 170,770,000	[2]	$ 166,300,000
Debt instrument interest rate									5.00%			5.00%					5.00%
Debt instruments maturity date					2,032	2,032											2,032
Percentage owned in subsidiary					100.00%	100.00%
5.0% Senior Convertible Notes due 2032 | Subsequent Event
Description Of Company And Significant Accounting Policies [Line Items]
Aggregate principal amount retired											72,100,000
5.0% Convertible Senior Exchange Notes due 2032
Description Of Company And Significant Accounting Policies [Line Items]
Debt instrument, principal amount			$ 27,500,000						$ 24,015,000			$ 24,015,000					$ 24,015,000
Debt instrument interest rate									5.00%			5.00%					5.00%
5.0% Convertible Senior Exchange Notes due 2032 | Subsequent Event
Description Of Company And Significant Accounting Policies [Line Items]
Aggregate principal amount retired	$ 17,100,000
Debt instrument, principal amount	$ 8,500,000							36,000,000			36,000,000
Debt instrument interest rate	5.00%
8.875% Senior Notes due 2019
Description Of Company And Significant Accounting Policies [Line Items]
Debt instrument, principal amount							$ 275,000,000		$ 275,000,000			$ 275,000,000					$ 275,000,000			275,000,000
Debt instrument interest rate							8.875%
Debt instruments maturity date							2,019
Percentage owned in subsidiary							100.00%
8.875% Senior Notes due 2019 | Subsequent Event
Description Of Company And Significant Accounting Policies [Line Items]
Aggregate principal amount retired		$ 158,200,000						158,200,000
Debt instrument, principal amount		75,000,000
8.875% Second Lien Senior Secured Notes due 2018 | Subsequent Event
Description Of Company And Significant Accounting Policies [Line Items]
Debt instrument, principal amount		$ 75,000,000						$ 75,000,000			$ 75,000,000
Debt instrument interest rate		8.875%
3.25% Convertible Senior Notes due 2026
Description Of Company And Significant Accounting Policies [Line Items]
Debt instrument, principal amount									$ 429,000			$ 429,000					$ 429,000			429,000
Debt instrument interest rate									3.25%			3.25%					3.25%
Debt instruments maturity date																	2,026
5.0% Convertible Senior Notes due 2029
Description Of Company And Significant Accounting Policies [Line Items]
Aggregate principal amount retired																						$ 166,700,000
Debt instrument, principal amount									$ 6,692,000	[3]		$ 6,692,000	[3]				$ 6,692,000	[3]		$ 6,692,000	[3]			$ 218,500,000
Debt instrument interest rate									5.00%			5.00%					5.00%
Debt instruments maturity date																	2,029
[1]	The debt discount is being amortized using the effective interest rate method based upon a two and a half year term through September 1, 2017, the first repurchase date applicable to the Second Lien Notes. The debt discount as of September 30, 2015 was $12.5 million.
[2]	The debt discount is being amortized using the effective interest rate method based upon a four year term through October 1, 2017, the first repurchase date applicable to the 2032 Notes. The debt discount was $2.6 million and $5.3 million as of September 30, 2015 and December 31, 2014, respectively.
[3]	The debt discount was amortized using the effective interest rate method based upon an original five year term through October 1, 2014. The debt discount was fully amortized as of December 31, 2014.

Fair Value of Financial Instrum

Fair Value of Financial Instruments and Long Lived Assets (Detail) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Recurring Fair Value Measurements
Debt	[1]	$ (137,401)	$ (348,051)
Nonrecurring Fair Value Measurements
Impaired oil and natural gas properties		7,800
Not Designated as Hedging Instrument | Commodity Derivatives
Recurring Fair Value Measurements
Commodity derivatives		15,225	$ 46,878
Recurring Fair Value Measurements
Recurring Fair Value Measurements
Debt		(137,401)
Total recurring fair value measurements		(122,176)
Recurring Fair Value Measurements | Not Designated as Hedging Instrument | Commodity Derivatives
Recurring Fair Value Measurements
Commodity derivatives		15,225
Nonrecurring Fair Value Measurements
Nonrecurring Fair Value Measurements
Impaired oil and natural gas properties		7,785
Level 1 | Recurring Fair Value Measurements
Recurring Fair Value Measurements
Debt		(75,864)
Total recurring fair value measurements		(75,864)
Level 2 | Not Designated as Hedging Instrument | Commodity Derivatives
Recurring Fair Value Measurements
Commodity derivatives		15,225
Level 2 | Recurring Fair Value Measurements
Recurring Fair Value Measurements
Debt		(17,607)
Total recurring fair value measurements		(2,382)
Level 2 | Recurring Fair Value Measurements | Not Designated as Hedging Instrument | Commodity Derivatives
Recurring Fair Value Measurements
Commodity derivatives		15,225
Level 3 | Recurring Fair Value Measurements
Recurring Fair Value Measurements
Debt		(43,930)
Total recurring fair value measurements		(43,930)
Level 3 | Nonrecurring Fair Value Measurements
Nonrecurring Fair Value Measurements
Impaired oil and natural gas properties		$ 7,785
[1]	The carrying amount for the Second Amended and Restated Credit Agreement represents fair value as the variable interest rates are reflective of current market conditions. The fair values of the notes were obtained by direct market quotes within Level 1 of the fair value hierarchy. The fair value of our Second Lien Notes and 2032 Exchange Notes were obtained using a discounted cash flow model within Level 3 of the fair value hierarchy.

Reconciliation of Asset Retirem

Reconciliation of Asset Retirement Obligations (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Asset Retirement Obligation Disclosure [Abstract]
Beginning balance	$ 6,510
Liabilities incurred	15
Liabilities settled	(62)
Accretion expense	368
Dispositions	(3,169)
Ending balance	3,662
Current liability	83	$ 145
Long term liability	$ 3,579	$ 6,365

Components of Debt (Detail)

Components of Debt (Detail) - USD ($) $ in Thousands		Sep. 30, 2015		Sep. 08, 2015	Mar. 31, 2015	Mar. 12, 2015	Dec. 31, 2014		Dec. 31, 2013	Oct. 01, 2013	Aug. 26, 2013	Mar. 02, 2011	Sep. 30, 2009
Debt Instrument [Line Items]
Debt Instrument, Principal		$ 539,628					$ 573,891
Debt Instrument, Carrying Amount		540,059					568,625
Debt Instrument, Fair Value	[1]	137,401					348,051
Senior Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Principal		17,500					121,000
Debt Instrument, Carrying Amount		17,500					121,000
Debt Instrument, Fair Value	[1]	17,500					121,000
8.0% Second Lien Senior Secured Notes due 2018
Debt Instrument [Line Items]
Debt Instrument, Principal		100,000	[2]		$ 100,000	$ 100,000
Debt Instrument, Carrying Amount	[2]	87,548
Debt Instrument, Fair Value	[1],[2]	19,427
8.875% Senior Notes due 2019
Debt Instrument [Line Items]
Debt Instrument, Principal		275,000					275,000					$ 275,000
Debt Instrument, Carrying Amount		275,000					275,000
Debt Instrument, Fair Value	[1]	53,424					136,125
3.25% Convertible Senior Notes due 2026
Debt Instrument [Line Items]
Debt Instrument, Principal		429					429
Debt Instrument, Carrying Amount		429					429
Debt Instrument, Fair Value	[1]	107					353
5.0% Convertible Senior Notes due 2029
Debt Instrument [Line Items]
Debt Instrument, Principal		6,692	[3]				6,692	[3]					$ 218,500
Debt Instrument, Carrying Amount	[3]	6,692					6,692
Debt Instrument, Fair Value	[1],[3]	402					3,480
5.0% Senior Convertible Notes due 2032
Debt Instrument [Line Items]
Debt Instrument, Principal		115,992	[4]				170,770	[4]	$ 166,300	$ 57,000	$ 109,250
Debt Instrument, Carrying Amount	[4]	113,370					165,504
Debt Instrument, Fair Value	[1],[4]	22,038					$ 87,093
5.0% Convertible Senior Exchange Notes due 2032
Debt Instrument [Line Items]
Debt Instrument, Principal		24,015		$ 27,500
Debt Instrument, Carrying Amount		39,520
Debt Instrument, Fair Value	[1]	$ 24,503
[1]	The carrying amount for the Second Amended and Restated Credit Agreement represents fair value as the variable interest rates are reflective of current market conditions. The fair values of the notes were obtained by direct market quotes within Level 1 of the fair value hierarchy. The fair value of our Second Lien Notes and 2032 Exchange Notes were obtained using a discounted cash flow model within Level 3 of the fair value hierarchy.
[2]	The debt discount is being amortized using the effective interest rate method based upon a two and a half year term through September 1, 2017, the first repurchase date applicable to the Second Lien Notes. The debt discount as of September 30, 2015 was $12.5 million.
[3]	The debt discount was amortized using the effective interest rate method based upon an original five year term through October 1, 2014. The debt discount was fully amortized as of December 31, 2014.
[4]	The debt discount is being amortized using the effective interest rate method based upon a four year term through October 1, 2017, the first repurchase date applicable to the 2032 Notes. The debt discount was $2.6 million and $5.3 million as of September 30, 2015 and December 31, 2014, respectively.

Components of Debt (Parenthetic

Components of Debt (Parenthetical) (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Mar. 12, 2015	Dec. 31, 2014	Dec. 31, 2013
8.0% Second Lien Senior Secured Notes due 2018
Debt Instrument [Line Items]
Period of amortization on debt instrument	2 years 6 months
Debt discount amortization end date	Sep. 1, 2017
Debt discount	$ 12.5	$ 15.4
5.0% Convertible Senior Notes due 2029
Debt Instrument [Line Items]
Period of amortization on debt instrument	5 years
Debt discount amortization end date	Oct. 1, 2014
5.0% Senior Convertible Notes due 2032
Debt Instrument [Line Items]
Period of amortization on debt instrument	4 years
Debt discount amortization end date	Oct. 1, 2017
Debt discount	$ 2.6		$ 5.3	$ 7.5

Summary of Total Interest Expen

Summary of Total Interest Expense and Effective Interest Rate on Debt (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Interest Expense	$ 15,583	$ 12,645	$ 42,447	$ 36,274
Senior Credit Facility
Debt Instrument [Line Items]
Interest Expense	$ 1,016	$ 1,332	$ 3,617	$ 2,368
Effective Interest Rate	5.60%	5.30%	4.60%	6.90%
8.0% Second Lien Senior Secured Notes due 2018
Debt Instrument [Line Items]
Interest Expense	$ 3,598		$ 7,865
Effective Interest Rate	16.20%		16.20%
8.875% Senior Notes due 2019
Debt Instrument [Line Items]
Interest Expense	$ 6,329	$ 6,327	$ 18,981	$ 18,981
Effective Interest Rate	9.00%	9.20%	9.10%	9.20%
3.25% Convertible Senior Notes due 2026
Debt Instrument [Line Items]
Interest Expense	$ 3	$ 4	$ 10	$ 11
Effective Interest Rate	3.30%	3.30%	3.30%	3.30%
5.0% Convertible Senior Notes due 2029
Debt Instrument [Line Items]
Interest Expense	$ 84	$ 1,431	$ 250	$ 4,280
Effective Interest Rate	5.00%	11.10%	5.00%	11.30%
5.0% Senior Convertible Notes due 2032
Debt Instrument [Line Items]
Interest Expense	$ 3,255	$ 3,551	$ 10,414	$ 10,634
Effective Interest Rate	8.50%	8.70%	8.50%	8.70%
5.0% Convertible Senior Exchange Notes due 2032
Debt Instrument [Line Items]
Interest Expense	$ 1,285		$ 1,285
Other
Debt Instrument [Line Items]
Interest Expense	$ 13		$ 25

Debt - Additional Information (

Debt - Additional Information (Detail)		Oct. 14, 2015USD ($)	Oct. 02, 2015USD ($)$ / sharesshares	Sep. 08, 2015USD ($)	Feb. 26, 2015USD ($)	Oct. 31, 2015USD ($)	Sep. 30, 2015USD ($)$ / sharesshares		Oct. 31, 2015USD ($)	Sep. 30, 2015USD ($)$ / sharesshares		Sep. 30, 2015USD ($)NotesUnits$ / sharesshares		Dec. 31, 2013USD ($)	Nov. 03, 2015USD ($)	Mar. 31, 2015USD ($)	Mar. 12, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)$ / shares		Oct. 01, 2014USD ($)	Sep. 30, 2014USD ($)	Oct. 01, 2013USD ($)	Aug. 26, 2013USD ($)	Mar. 02, 2011USD ($)	Sep. 30, 2009USD ($)
Debt [Line Items]
Cash and cash equivalents							$ 4,025,000			$ 4,025,000		$ 4,025,000		$ 49,220,000				$ 8,000			$ 2,215,000
Debt instrument, principal amount							$ 539,628,000			$ 539,628,000		$ 539,628,000						$ 573,891,000
Common stock, par value | $ / shares							$ 0.20			$ 0.20		$ 0.20						$ 0.20
Proceeds from Second Lien Notes												$ 100,000,000
Debt Instrument, Carrying Amount							$ 540,059,000			$ 540,059,000		$ 540,059,000						$ 568,625,000
Accretion rate																							2.00%
Subsequent Event
Debt [Line Items]
Warrant to purchase shares | shares			156.9
Common stock, par value | $ / shares			$ 0.20
Warrant exercise price | $ / shares			$ 1
Number of warrants to purchase common stock | shares			38,250
8.0% Second Lien Senior Secured Notes due 2018
Debt [Line Items]
Debt instrument, maturity date												Mar. 15, 2018
Debt instrument, principal amount							$ 100,000,000	[1]		$ 100,000,000	[1]	$ 100,000,000	[1]			$ 100,000,000	$ 100,000,000
Debt instrument interest rate							8.00%			8.00%		8.00%
Number of notes sold | NotesUnits												100,000
Debt instrument, aggregate principal amount each unit							$ 1,000			$ 1,000		$ 1,000					$ 1,000
Warrant to purchase shares | shares							48.84			48.84		48.84
Proceeds from Second Lien Notes												$ 100,000,000
Debt Instrument, Maturity Date, Description												If the aggregate principal amount outstanding on the 2032 Notes on August 1, 2017 is more than $25.0 million then the outstanding amount of the Second Lien Notes shall be due on September 1, 2017.
Warrant exercise price | $ / shares							$ 4.664			$ 4.664		$ 4.664					$ 4.664
Warrant expiration period												10 years
Number of days following registration effective date to consummate exchange offer												60 days
Effective interest rate, debt instrument							32.00%			32.00%		32.00%
Fair value of debt portion												$ 84,600,000
Debt discount							$ 12,500,000			$ 12,500,000		12,500,000					$ 15,400,000
Equity component of debt												$ 15,400,000
Debt discount amortization end date												Sep. 1, 2017
Debt Instrument, Carrying Amount	[1]						87,548,000			87,548,000		$ 87,548,000
Period of amortization on debt instrument												2 years 6 months
8.0% Second Lien Senior Secured Notes due 2018 | Option 1
Debt [Line Items]
Redeemable redemption price, percentage of principal amount												106.00%
Debt instrument, redemption date												Mar. 15, 2016
8.0% Second Lien Senior Secured Notes due 2018 | Option 2
Debt [Line Items]
Redeemable redemption price, percentage of principal amount												100.00%
Debt instrument, redemption date												Mar. 15, 2017
8.0% Second Lien Senior Secured Notes due 2018 | First Ninety Days
Debt [Line Items]
Additional interest on principal amount												0.25%
8.0% Second Lien Senior Secured Notes due 2018 | Each Additional Ninety Days
Debt [Line Items]
Additional interest on principal amount												0.25%
8.0% Second Lien Senior Secured Notes due 2018 | Subsequent Event
Debt [Line Items]
Debt instrument interest rate			8.00%
8.0% Second Lien Senior Secured Notes due 2018 | Maximum | Each Additional Ninety Days
Debt [Line Items]
Additional interest on principal amount												1.00%
8.875% Senior Notes due 2019
Debt [Line Items]
Debt instrument, maturity date												Mar. 15, 2019
Debt instrument, principal amount							275,000,000			275,000,000		$ 275,000,000						275,000,000						$ 275,000,000
Debt instrument interest rate																								8.875%
Debt Instrument, Carrying Amount							275,000,000			275,000,000		$ 275,000,000						275,000,000
8.875% Senior Notes due 2019 | Option 1
Debt [Line Items]
Redeemable redemption price, percentage of principal amount												104.00%
Debt instrument, redemption date												Mar. 15, 2015
8.875% Senior Notes due 2019 | Option 2
Debt [Line Items]
Redeemable redemption price, percentage of principal amount												102.00%
Debt instrument, redemption date												Mar. 15, 2016
8.875% Senior Notes due 2019 | Option 3
Debt [Line Items]
Redeemable redemption price, percentage of principal amount												100.00%
Debt instrument, redemption date												Mar. 15, 2017
8.875% Senior Notes due 2019 | Subsequent Event
Debt [Line Items]
Debt instrument, principal amount			$ 75,000,000
Aggregate principal amount retired			158,200,000			$ 158,200,000
Debt Instrument, Carrying Amount			$ 116,800,000
8.875% Second Lien Senior Secured Notes due 2018 | Subsequent Event
Debt [Line Items]
Debt instrument, maturity date			Mar. 15, 2018
Debt instrument, principal amount			$ 75,000,000			75,000,000			$ 75,000,000
Debt instrument interest rate			8.875%
5.0% Convertible Senior Notes due 2029
Debt [Line Items]
Debt instrument, maturity date												Oct. 1, 2029
Debt instrument, principal amount							$ 6,692,000	[2]		$ 6,692,000	[2]	$ 6,692,000	[2]					6,692,000	[2]						$ 218,500,000
Aggregate principal amount retired														166,700,000
Debt instrument interest rate							5.00%			5.00%		5.00%
Debt instrument, aggregate principal amount each unit							$ 1,000			$ 1,000		$ 1,000
Debt discount amortization end date												Oct. 1, 2014
Debt Instrument, Carrying Amount	[2]						$ 6,692,000			$ 6,692,000		$ 6,692,000						6,692,000
Debt Instrument, Repurchase Amount																				$ 45,100,000
Notes to shares converted												28.8534
Base conversion price per share | $ / shares							$ 34.66			$ 34.66		$ 34.66
Conversion price, percentage												135.00%
Number of trading days in the period												20 days
Period of amortization on debt instrument												5 years
5.0% Senior Convertible Notes due 2032
Debt [Line Items]
Debt instrument, maturity date												Oct. 1, 2032
Debt instrument, principal amount							$ 115,992,000	[3]		$ 115,992,000	[3]	$ 115,992,000	[3]	166,300,000				170,770,000	[3]			$ 57,000,000	$ 109,250,000
Aggregate principal amount retired				$ 55,000,000
Debt instrument interest rate							5.00%			5.00%		5.00%
Debt instrument, aggregate principal amount each unit							$ 1,000			$ 1,000		$ 1,000
Effective interest rate, debt instrument							8.00%			8.00%		8.00%
Fair value of debt portion												$ 158,800,000
Debt discount							$ 2,600,000			$ 2,600,000		2,600,000		$ 7,500,000				5,300,000
Equity component of debt												$ 24,400,000
Debt discount amortization end date												Oct. 1, 2017
Debt Instrument, Carrying Amount	[3]						$ 113,370,000			$ 113,370,000		$ 113,370,000						165,504,000
Notes to shares converted												28.8534
Base conversion price per share | $ / shares							$ 34.6580			$ 34.6580		$ 34.6580
Period of amortization on debt instrument												4 years
Aggregate principal amount outstanding excluding accretion							$ 111,300,000			$ 111,300,000		$ 111,300,000
Debt instrument, accretion start date												Aug. 26, 2013
Debt instrument, accretion end date												Oct. 1, 2017
Redemption price, percentage												100.00%
Accretion amount										$ 800,000		$ 2,500,000
5.0% Senior Convertible Notes due 2032 | Option 1
Debt [Line Items]
Debt instrument, redemption date												Oct. 1, 2017
5.0% Senior Convertible Notes due 2032 | Option 2
Debt [Line Items]
Debt instrument, redemption date												Oct. 1, 2022
5.0% Senior Convertible Notes due 2032 | Option 3
Debt [Line Items]
Debt instrument, redemption date												Oct. 1, 2027
5.0% Senior Convertible Notes due 2032 | Subsequent Event
Debt [Line Items]
Aggregate principal amount retired									72,100,000
5.0% Senior Convertible Notes due 2032 | Minimum
Debt [Line Items]
Debt instrument, redemption date												Oct. 1, 2016
Common stock trading price cap before conversion | $ / shares												$ 45.06
Conversion price percentage before conversion							130.00%			130.00%		130.00%
5.0% Convertible Senior Exchange Notes due 2032
Debt [Line Items]
Debt instrument, maturity date												Oct. 1, 2032
Debt instrument, principal amount				$ 27,500,000			$ 24,015,000			$ 24,015,000		$ 24,015,000
Debt instrument interest rate							5.00%			5.00%		5.00%
Debt instrument, aggregate principal amount each unit							$ 1,000			$ 1,000		$ 1,000
Effective interest rate, debt instrument							1.30%			1.30%		1.30%
Debt Instrument, Carrying Amount							$ 39,520,000			$ 39,520,000		$ 39,520,000
Notes to shares converted												500
Base conversion price per share | $ / shares							$ 2			$ 2		$ 2
Number of trading days in the period												20 days
Redemption price, percentage												100.00%
Debt instrument, earlier conversion date												Oct. 1, 2017
Threshold trading price as percentage of conversion price												125.00%
Debt instrument conversion term, description												If the holders elect to convert the 2032 Exchange Notes on or before October 1, 2018, holders will receive a make-whole premium equal to (i) $100 per $1,000 face amount of the 2032 Exchange Notes if the conversion occurs prior to October 1, 2017 or (ii) $100 per $1,000 face amount of the 2032 Exchange Notes less an amount equal to 0.2778 multiplied by the number of days between September 30, 2017 and the conversion date, if the conversion occurs on or after October 1, 2017.
Gains on restructuring of debt												$ 0
Carrying amount of convertible notes							$ 45,200,000			$ 45,200,000		45,200,000
Net fair of the convert feature in additional paid in capital												$ 10,100,000
Principal amount of notes							$ 5,700,000
5.0% Convertible Senior Exchange Notes due 2032 | Option 1
Debt [Line Items]
Debt instrument, redemption date												Oct. 1, 2018
Debt instrument conversion premium amount							10.00%			10.00%		10.00%
5.0% Convertible Senior Exchange Notes due 2032 | Option 2
Debt [Line Items]
Debt instrument, redemption date												Oct. 1, 2022
Debt instrument conversion premium amount							10.00%			10.00%		10.00%
Incremental share factor												27.78%
5.0% Convertible Senior Exchange Notes due 2032 | Option 3
Debt [Line Items]
Debt instrument, redemption date												Oct. 1, 2027
5.0% Convertible Senior Exchange Notes due 2032 | Subsequent Event
Debt [Line Items]
Debt instrument, principal amount		$ 8,500,000				$ 36,000,000			$ 36,000,000
Aggregate principal amount retired		$ 17,100,000
Debt instrument interest rate		5.00%
3.25% Convertible Senior Notes due 2026
Debt [Line Items]
Debt instrument, principal amount							$ 429,000			$ 429,000		$ 429,000						429,000
Debt instrument interest rate							3.25%			3.25%		3.25%
Debt instrument, aggregate principal amount each unit							$ 1,000			$ 1,000		$ 1,000
Debt Instrument, Carrying Amount							$ 429,000			$ 429,000		$ 429,000						$ 429,000
Notes to shares converted												15.1653
Base conversion price per share | $ / shares							$ 65.94			$ 65.94		$ 65.94
Incremental share factor												2.6762%
3.25% Convertible Senior Notes due 2026 | Option 1
Debt [Line Items]
Debt instrument, redemption date												Dec. 1, 2016
3.25% Convertible Senior Notes due 2026 | Option 2
Debt [Line Items]
Debt instrument, redemption date												Dec. 1, 2021
Senior Credit Facility
Debt [Line Items]
Total lender commitments under the Senior Credit Facility borrowing base							$ 600,000,000			$ 600,000,000		$ 600,000,000
Senior credit facility, current borrowing capacity							105,000,000			105,000,000		105,000,000
Amount outstanding under the senior credit facility							17,500,000			17,500,000		$ 17,500,000
Senior credit facility, remaining borrowing capacity					$ 200,000,000
Debt instrument, maturity date					Feb. 24, 2017
Senior Credit Facility | Thirteenth Amendment
Debt [Line Items]
Current Ratio					100.00%
Debt no greater than EBITDAX					250.00%
Senior Credit Facility | Subsequent Event
Debt [Line Items]
Senior credit facility, remaining borrowing capacity			$ 75,000,000
Senior Credit Facility | Subsequent Event | Fourteenth Amendment
Debt [Line Items]
Interest Coverage Ratio Of EBITDAX			125.00%
Debt no greater than EBITDAX			125.00%
Senior Credit Facility | Minimum | Thirteenth Amendment
Debt [Line Items]
Interest Coverage Ratio Of EBITDAX					200.00%
Senior Credit Facility | Minimum | Base Rate
Debt [Line Items]
Debt instrument, interest rate over variable rate												1.25%
Senior Credit Facility | Minimum | London Interbank Offered Rate (LIBOR)
Debt [Line Items]
Debt instrument, interest rate over variable rate												2.25%
Senior Credit Facility | Maximum | Subsequent Event | Fourteenth Amendment
Debt [Line Items]
Provision of a maximum cash balance			$ 15,000,000
Senior Credit Facility | Maximum | Base Rate
Debt [Line Items]
Debt instrument, interest rate over variable rate												2.25%
Senior Credit Facility | Maximum | London Interbank Offered Rate (LIBOR)
Debt [Line Items]
Debt instrument, interest rate over variable rate												3.25%
Senior Credit Facility | 8.0% Second Lien Senior Secured Notes due 2018
Debt [Line Items]
Senior credit facility, remaining borrowing capacity							$ 150,000,000			$ 150,000,000		$ 150,000,000
Senior Credit Facility | Third Lien Debt | Subsequent Event | Fifteenth Amendment
Debt [Line Items]
Senior credit facility, current borrowing capacity															$ 75,000,000
Debt instrument, principal amount															$ 50,000,000
[1]	The debt discount is being amortized using the effective interest rate method based upon a two and a half year term through September 1, 2017, the first repurchase date applicable to the Second Lien Notes. The debt discount as of September 30, 2015 was $12.5 million.
[2]	The debt discount was amortized using the effective interest rate method based upon an original five year term through October 1, 2014. The debt discount was fully amortized as of December 31, 2014.
[3]	The debt discount is being amortized using the effective interest rate method based upon a four year term through October 1, 2017, the first repurchase date applicable to the 2032 Notes. The debt discount was $2.6 million and $5.3 million as of September 30, 2015 and December 31, 2014, respectively.

Net Loss Per Common Share - Add

Net Loss Per Common Share - Additional Information (Detail) $ in Millions	3 Months Ended
	Sep. 30, 2015USD ($)
Earnings Per Share [Abstract]
Preferred stock dividends suspended	$ 7.4

Computations of Basic and Dilut

Computations of Basic and Diluted Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Basic and Diluted loss per share:
Net loss applicable to common stock		$ (25,226)	$ (87,142)	$ (92,843)	$ (149,601)
Weighted average shares of common stock outstanding		57,606	44,430	54,697	44,337
Basic and Diluted loss per share	[1],[2],[3]	$ (0.44)	$ (1.96)	$ (1.70)	$ (3.37)
[1]	(1) Common shares issuable upon assumed conversion of convertible preferred stock or dividends paid were not presented as they would have been anti-dilutive.
[2]	(2) Common shares issuable upon assumed conversion of the 2026 Notes, 2029 Notes, 2032 Exchange Notes and 2032 Notes or interest paid were not presented as they would have been anti-dilutive.
[3]	(3) Common shares issuable on assumed conversion of restricted stock, stock warrants and employee stock options were not included in the computation of diluted loss per common share since their inclusion would have been anti-dilutive.

Computations of Basic and Dil31

Computations of Basic and Diluted Income (Loss) Per Share (Parenthetical) (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Assumed Conversion of Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common shares issuable upon assumed conversion	3,588	3,588	3,588	3,588
Assumed Conversion of Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common shares issuable upon assumed conversion	15,417	4,997	15,417	4,997
Assumed Conversion of Restricted Stock, Stock Warrants and Employee Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common shares issuable upon assumed conversion	9,217	2,307	9,217	2,307

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2009
Income Tax Disclosure [Abstract]
Income tax expense or benefit	$ 0	$ 0
Deferred tax assets, net				$ 0
Unrecognized tax benefits	$ 0	$ 0	$ 0

Summary of Gains and Losses on

Summary of Gains and Losses on Derivatives (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative [Line Items]
Gain on derivatives not designated as hedges	$ 7,882	$ 20,348	$ 6,338	$ 2,034
Commodity Derivatives
Derivative [Line Items]
Gain on derivatives not designated as hedges	$ 7,882	$ 20,348	$ 6,338	$ 2,034

Derivative Activities - Additio

Derivative Activities - Additional Information (Detail) $ in Millions	Sep. 30, 2015USD ($)
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative fair value	$ 15.3

Outstanding Commodity Derivativ

Outstanding Commodity Derivative Contracts (Detail) - Not Designated as Hedging Instrument $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)MMBTU$ / MMBTU$ / bblbbl	Dec. 31, 2014USD ($)
Commodity Derivatives
Derivative [Line Items]
Fair Value | $	$ 15,225	$ 46,878
Natural Gas Calls | 2015
Derivative [Line Items]
Fair Value | $	(37)
Natural Gas Calls | 2016
Derivative [Line Items]
Fair Value | $	$ (47)
Natural Gas Calls | Minimum | 2015
Derivative [Line Items]
Fixed price, calls	5.05
Natural Gas Calls | Minimum | 2016
Derivative [Line Items]
Fixed price, calls	5.05
Natural Gas Calls | Maximum | 2015
Derivative [Line Items]
Fixed price, calls	5.06
Natural Gas Calls | Maximum | 2016
Derivative [Line Items]
Fixed price, calls	5.06
Oil Swaps | 2015
Derivative [Line Items]
Fair Value | $	$ 15,309
Oil Swaps | Minimum | 2015
Derivative [Line Items]
Fixed price, swaps | $ / bbl	94.55
Oil Swaps | Maximum | 2015
Derivative [Line Items]
Fixed price, swaps | $ / bbl	98.10
Daily | Natural Gas Calls | 2015
Derivative [Line Items]
Volume | MMBTU	20,000
Daily | Natural Gas Calls | 2016
Derivative [Line Items]
Volume | MMBTU	20,000
Daily | Oil Swaps | 2015
Derivative [Line Items]
Volume | bbl	3,500
Remaining Volumes | Natural Gas Calls | 2015
Derivative [Line Items]
Volume | MMBTU	1,840,000
Remaining Volumes | Natural Gas Calls | 2016
Derivative [Line Items]
Volume | MMBTU	7,320,000
Remaining Volumes | Oil Swaps | 2015
Derivative [Line Items]
Volume | bbl	322,000

Derivative Assets and Liabiliti

Derivative Assets and Liabilities Recorded at Fair Value (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Current Assets Commodity Derivatives	$ 15,309	$ 47,444
Current Liabilities Commodity Derivatives	(37)	(102)
Non-current Liabilities Commodity Derivatives	(47)	(464)
Commodity Derivatives | Not Designated as Hedging Instrument
Derivative [Line Items]
Current Assets Commodity Derivatives	15,309	47,444
Current Liabilities Commodity Derivatives	(37)	(102)
Non-current Liabilities Commodity Derivatives	(47)	(464)
Total	15,225	$ 46,878
Commodity Derivatives | Not Designated as Hedging Instrument | Level 2
Derivative [Line Items]
Current Assets Commodity Derivatives	15,309
Current Liabilities Commodity Derivatives	(37)
Non-current Liabilities Commodity Derivatives	(47)
Total	$ 15,225

Reconciliation of Gross Amounts

Reconciliation of Gross Amounts to Amounts as Presented on Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Derivative Current Asset	$ 15,309	$ 47,444
Derivative Current Liability	(37)	(102)
Derivative Non-current Liability	(47)	(464)
Commodity Derivatives | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Current Asset	15,309	47,444
Derivative Current Liability	(37)	(102)
Derivative Non-current Liability	(47)	(464)
Total	15,225	46,878
Commodity Derivatives | Not Designated as Hedging Instrument | Gross Amount
Derivative [Line Items]
Derivative Current Asset	15,309	47,444
Derivative Current Liability	(37)	(102)
Derivative Non-current Liability	(47)	(464)
Total	$ 15,225	$ 46,878

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Mar. 10, 2015	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2015	Mar. 12, 2015	Dec. 31, 2014
Stockholders Equity [Line Items]
Common stock issued in public offering	12,000,000
Common stock, price	$ 4.15
Net proceeds from public offering of common stock	$ 47,481,000				$ 47,481,000
Common stock par value, per share		$ 0.20	$ 0.20	$ 0.20	$ 0.20		$ 0.20
Preferred stock, dividend rate, percentage					5.375%
Series B Convertible Preferred Stock
Stockholders Equity [Line Items]
Preferred stock, dividend rate, percentage				5.375%
Increase in dividend rate, percentage				1.00%
Series C Cumulative Preferred Stock
Stockholders Equity [Line Items]
Preferred stock, dividend rate, percentage				10.00%
Series D Cumulative Preferred Stock
Stockholders Equity [Line Items]
Preferred stock, dividend rate, percentage				9.75%
8.0% Second Lien Senior Secured Notes due 2018
Stockholders Equity [Line Items]
Detachable warrant issued, each unit		$ 1,000	$ 1,000	$ 1,000	$ 1,000	$ 1,000
Right to purchase common stock per warrant		48.84	48.84	48.84	48.84
Warrant exercise price		$ 4.664	$ 4.664	$ 4.664	$ 4.664	$ 4.664
Warrant expiration date					Mar. 12, 2025
Equity component of debt					$ 15,400,000
5.0% Convertible Senior Exchange Notes due 2032
Stockholders Equity [Line Items]
Detachable warrant issued, each unit		$ 1,000	$ 1,000	$ 1,000	$ 1,000
Debt instrument, principal amount			$ 3,500,000
Carrying amount of convertible notes		$ 5,700,000
5.0% Convertible Senior Exchange Notes due 2032 | Common Stock
Stockholders Equity [Line Items]
Common stock, shares issued			1,700,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Material $ in Millions	Jun. 10, 2015USD ($)	Sep. 30, 2015USD ($)Shipment
Long Term Purchase Commitment [Line Items]
Purchase obligation	$ 11.4	$ 8.6
Purchase obligation agreement, period	18 months
Purchase obligation terms		We will receive and pay for approximately $0.6 million of pipe each month during the term of the agreement. Our obligation may be reduced subject to the vendor identifying an opportunity to sell the pipe to the open market.
Purchase obligation of material for each month	$ 0.6
Number of shipments delivery taken | Shipment		4

Disposition - Additional Inform

Disposition - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 04, 2015	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net proceeds from sale of asset				$ 104,850	$ 625
Gain on sale of asset			$ 42,759	$ 46,520
Eagle Ford Shale Trend
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Purchase and sell agreement amount	$ 118,000
Net proceeds from sale of asset		$ 101,600	101,600
Effective agreement date				Jul. 1, 2015
Amount held in escrow		$ 14,400	14,400	$ 14,400
Gain on sale of asset			$ 42,800

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)	Oct. 14, 2015	Oct. 02, 2015	Oct. 31, 2015	Dec. 31, 2015	Sep. 30, 2015	Sep. 08, 2015	Dec. 31, 2014	Mar. 02, 2011
Subsequent Event [Line Items]
Debt instrument, principal amount					$ 539,628,000		$ 573,891,000
Common stock, par value					$ 0.20		$ 0.20
8.875% Senior Notes due 2019
Subsequent Event [Line Items]
Debt instrument, principal amount					$ 275,000,000		$ 275,000,000	$ 275,000,000
Debt instrument interest rate								8.875%
8.875% Senior Notes due 2019 | Scenario Forecast
Subsequent Event [Line Items]
Gains on restructuring of debt				$ 62,600,000
Fair value of warrants issued				$ 2,500,000
5.0% Convertible Senior Exchange Notes due 2032
Subsequent Event [Line Items]
Debt instrument, principal amount					24,015,000	$ 27,500,000
Gains on restructuring of debt					$ 0
Debt instrument interest rate					5.00%
Subsequent Event
Subsequent Event [Line Items]
Number of warrants to purchase common stock		38,250
Right to purchase common stock per warrant		156.9
Common stock, par value		$ 0.20
Warrant exercise price		$ 1
Subsequent Event | 8.875% Senior Notes due 2019
Subsequent Event [Line Items]
Aggregate principal amount retired		$ 158,200,000	$ 158,200,000
Debt instrument, principal amount		$ 75,000,000
Subsequent Event | 5.0% Convertible Senior Exchange Notes due 2032
Subsequent Event [Line Items]
Aggregate principal amount retired	$ 17,100,000
Debt instrument, principal amount	$ 8,500,000		$ 36,000,000
Debt instrument interest rate	5.00%