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Quarterly Data (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Data (Unaudited)

NOTE 16. QUARTERLY DATA (UNAUDITED)

 

 

 

First Quarter

 

 

Second Quarter

 

 

Third Quarter

 

 

Fourth Quarter

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

1,636

 

 

$

3,173

 

 

$

4,228

 

 

$

7,768

 

 

Gross profit (1)

 

 

680

 

 

 

1,470

 

 

 

1,856

 

 

 

5,225

 

 

Net loss (2)

 

 

(46,615

)

 

 

(205,549

)

(2)

 

(218,205

)

(3)

 

(1,872,940

)

(4)

Basic and diluted loss per share

 

$

(0.11

)

 

$

(0.50

)

 

$

(0.53

)

 

$

(4.47

)

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

Gross profit

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Net loss

 

 

(81,617

)

 

 

(66,810

)

 

 

(59,164

)

 

 

(486,835

)

(5)

Basic and diluted loss per share

 

$

(0.20

)

 

$

(0.16

)

 

$

(0.14

)

 

$

(1.19

)

 

 

(1)

Represents oil, natural gas and natural gas liquids revenues less lease operating expenses.

 

(2)

Includes dry hole costs and impairments of $155.8 million, of which $149.9 million relates to the Goodfellow exploratory well and underlying leases.  

 

(3)

Includes a $95.9 million charge related to the amendment of a drilling contract in the U.S. Gulf of Mexico.

 

(4)

Includes dry hole costs and impairment of $1,761.4 million, of which $1,691.8 million relates to our Angolan assets.

 

(5)

Includes dry hole costs and impairments of $422.4 million, of which $256.8 million relates to our proved oil and natural gas properties and $151.4 million relates to the Lontra exploratory well.