Sale of Piceance and Arkoma Properties - Discontinued Operations

12 Months Ended

Dec. 31, 2015

Piceance Basin and Arkoma Basin

Sale of Assets

Sale of Piceance and Arkoma Properties - Discontinued Operations

(4) Sale of Piceance and Arkoma Properties—Discontinued Operations

In 2012, the Company sold its Piceance Basin assets in Colorado and its Arkoma Basin assets in Oklahoma.  Pre-tax losses recognized in discontinued operations at the time of the transactions were adjusted downward in 2013 and 2014 by $8.5 million and $3.6 million, respectively, for the resolution of certain liabilities recorded at the time of the sales and settlement of final contractual purchase price adjustments.

Income from discontinued operations on the accompanying Consolidated Statement of Operations and Comprehensive Income (Loss) is comprised of the following (in thousands):

	Year ended December 31,
	2013		2014		2015
Income from discontinued operations before income taxes		8,506		3,564		—
Income tax expense		(3,249)		(1,354)		—
Net income from discontinued operations	$	5,257		2,210		—