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Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue        
Production $ 49,437 $ 102,615 $ 161,875 $ 332,187
Sales of purchased natural gas 8,342 16,660 29,921 53,401
Net derivative gains (losses) 261 43,310 27,863 (15,080)
Other 947 913 7,460 2,808
Total revenue 58,987 163,498 227,119 373,316
Operating expense        
Lease operating 12,506 17,176 39,763 54,622
Gathering, processing and transportation 17,799 34,807 65,270 102,511
Production and ad valorem taxes 773 4,067 8,046 12,557
Costs of purchased natural gas 8,319 16,599 29,863 53,305
Depletion, depreciation and accretion 11,650 13,969 39,793 42,584
Impairment of Oil and Gas Properties 164,518 135 241,929 135
General and administrative 10,221 11,310 39,312 38,115
Other operating 248 651 937 2,221
Total expense 226,034 98,714 464,913 306,050
Operating income (loss) (167,047) 64,784 (237,794) 67,266
Reorganization Items (7,883) 0 (148,568) 0
Other income - net (659) (2,465) (26,106) (3,824)
Fortune Creek accretion (3,279) (3,602) (9,877) (11,605)
Interest expense (3,192) (39,899) (43,537) (121,927)
Income (loss) before income taxes (182,060) 18,818 (465,882) (70,090)
Income tax (expense) benefit (2,152) 4,939 (5,836) (1,081)
Net Income (Loss) Attributable to Parent (184,212) 23,757 (471,718) (71,171)
Reclassification adjustments related to settlements of derivative contracts into production revenue- net of income tax (5,757) (7,968) (17,553) (20,939)
Foreign currency translation adjustment 98 (6,921) (5,996) (6,162)
Other comprehensive income (loss) (5,659) (14,889) (23,549) (27,101)
Comprehensive income (loss) $ (189,871) $ 8,868 $ (495,267) $ (98,272)
Earnings (loss) per common share - basic $ (1.05) $ 0.13 $ (2.68) $ (0.41)
Earnings (loss) per common share - diluted [1] $ (1.05) $ 0.13 $ (2.68) $ (0.41)
[1] For the three months ended September 30, 2015, 6.4 million shares associated with our stock options and 0.9 million shares associated with our unvested RSUs were antidilutive and, therefore, excluded from the diluted share calculations. For the three months ended September 30, 2014, 6.6 million shares associated with our stock options and 1.2 million shares associated with our unvested RSUs were antidilutive and, therefore, excluded from the diluted share calculations. For the nine months ended September 30, 2015, 6.4 million shares associated with our stock options and 0.9 million shares associated with our unvested RSUs were antidilutive and, therefore, excluded from the diluted share calculations. For the nine months ended September 30, 2014, 6.6 million shares associated with our stock options and 0.8 million shares associated with our unvested RSUs were antidilutive and, therefore, excluded from the diluted share calculations.