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Consolidated Statement of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Natural gas sales $ 609,756 $ 696,730 $ 969,850
Oil sales 111,335 142,381 260,170
Total operating revenues 721,091 839,111 1,230,020
Expenses:      
Lease operating expenses 89,134 106,906 96,496
Liquids gathering system operating lease expense 20,686 20,647 20,306
Production taxes 69,737 72,774 103,898
Gathering fees 86,809 87,904 59,931
Transportation charges 20,049 83,803 77,780
Depletion, depreciation and amortization 125,121 401,200 292,951
Ceiling test and other impairments 0 3,144,899 0
General and administrative 9,179 7,387 19,069
Total operating expenses 420,715 3,925,520 670,431
Operating income (loss) 300,376 (3,086,409) 559,589
Other income (expense), net:      
Interest expense (excludes contractual interest expense of $141.5 million for the year ended December 31, 2016) (66,565) (171,918) (126,157)
Gain on commodity derivatives 0 42,611 82,402
Deferred gain on sale of liquids gathering system 10,553 10,553 10,553
Litigation expense 0 (4,401) 0
Restructuring expenses (7,176) 0 0
Contract settlement (131,106) 0 0
Gain on sale of property 0 0 8,022
Other (expense) income, net (3,082) (2,060) 2,618
Total other (expense) income, net (197,376) (125,215) (22,562)
Reorganization items, net (47,503) 0 0
Income (loss) before income tax benefit 55,497 (3,211,624) 537,027
Income tax benefit (654) (4,404) (5,824)
Net income (loss) $ 56,151 $ (3,207,220) $ 542,851
Basic Earnings (Loss) per Share:      
Net income (loss) per common share — basic $ 0.37 $ (20.94) $ 3.54
Fully Diluted Earnings (Loss) per Share:      
Net income (loss) per common share — fully diluted $ 0.36 $ (20.94) $ 3.51
Weighted average common shares outstanding — basic 153,378 153,192 153,136
Weighted average common shares outstanding — fully diluted 154,081 153,192 154,694