Supplemental Oil and Gas Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Capitalized Costs Relating to Oil and Natural Gas Producing Activities

The total amount of capitalized costs relating to oil and natural gas producing activities and the total amount of related accumulated depreciation, depletion and amortization is as follows at the dates indicated.

	Years Ended December 31,
	2016			2015			2014
	(In thousands)
Evaluated oil and natural gas properties	$	3,115,012		$	3,616,325		$	3,329,338
Support equipment and facilities		199,093			205,876			198,088
Accumulated depletion, depreciation, and amortization		(1,743,274	)		(1,878,549	)		(1,060,114	)
Total	$	1,570,831		$	1,943,652		$	2,467,312

Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development Activities

Costs incurred in property acquisition, exploration and development activities were as follows for the periods indicated:

	Years Ended December 31,
	2016		2015		2014
	(In thousands)
Property acquisition costs, proved	$	—	$	77,834	$	983,076
Property acquisition costs, unproved		—		1,887		720
Exploration		792		2,078		—
Development		54,310		233,241		308,724
Total	$	55,102	$	315,040	$	1,292,520

Schedule of Product Prices Used for Valuing the Reserves

The weighted-average benchmark product prices used for valuing the reserves are based upon the average of the first-day-of-the-month price for each month within the period January through December of each year presented:

	2016		2015		2014
Oil ($/Bbl):
WTI (1)	$	42.75	$	46.79	$	91.48

NGL ($/Bbl):
WTI (1)	$	42.75	$	46.79	$	91.48

Natural Gas ($/MMbtu):
Henry Hub (2)	$	2.48	$	2.58	$	4.35

(1)

The weighted average WTI price was adjusted by lease for quality, transportation fees, and a regional price differential.

(2)

The weighted average Henry Hub price was adjusted by lease for energy content, compression charges, transportation fees, and regional price differentials.

Schedule of Net Reserves

The following tables set forth estimates of the net reserves as of December 31, 2016, 2015 and 2014, respectively:

	Year Ended December 31, 2016
	Oil			Gas			NGLs			Equivalent
	(MBbls)			(MMcf)			(MBbls)			(MMcfe)
Proved developed and undeveloped reserves:
Beginning of year		90,945			461,526			43,395			1,267,571
Extensions and discoveries		297			288			42			2,320
Production		(3,883	)		(44,776	)		(2,283	)		(81,773	)
Sale of minerals in place		(3,228	)		(15,227	)		(123	)		(35,328	)
Revision of previous estimates		(18,390	)		(30,795	)		(15,847	)		(236,225	)
End of year		65,741			371,016			25,184			916,565

Proved developed reserves:
Beginning of year		50,817			311,147			30,315			797,936
End of year		45,536			280,035			18,923			666,786

Proved undeveloped reserves:
Beginning of year		40,128			150,379			13,080			469,635
End of year		20,205			90,981			6,261			249,779

	Year Ended December 31, 2015
	Oil			Gas			NGLs			Equivalent
	(MBbls)			(MMcf)			(MBbls)			(MMcfe)
Proved developed and undeveloped reserves:
Beginning of year		100,258			727,216			59,034			1,682,960
Extensions and discoveries		2,319			8,686			558			25,950
Purchase of minerals in place		10,132			34,128			367			97,122
Production		(4,087	)		(50,875	)		(2,820	)		(92,315	)
Sale of minerals in place		(380	)		(13,731	)		(758	)		(20,559	)
Revision of previous estimates		(17,297	)		(243,898	)		(12,986	)		(425,587	)
End of year		90,945			461,526			43,395			1,267,571

Proved developed reserves:
Beginning of year		54,723			417,247			37,260			969,141
End of year		50,817			311,147			30,315			797,936

Proved undeveloped reserves:
Beginning of year		45,535			309,969			21,774			713,819
End of year		40,128			150,379			13,080			469,635

	Year Ended December 31, 2014
	Oil			Gas			NGLs			Equivalent
	(MBbls)			(MMcf)			(MBbls)			(MMcfe)
Proved developed and undeveloped reserves:
Beginning of year		39,635			737,908			35,794			1,190,484
Extensions and discoveries		849			12,783			711			22,145
Purchase of minerals in place		69,095			13,036			22,351			561,713
Production		(3,135	)		(48,721	)		(2,498	)		(82,520	)
Revision of previous estimates		(6,186	)		12,210			2,676			(8,862	)
End of year		100,258			727,216			59,034			1,682,960

Proved developed reserves:
Beginning of year		22,429			427,983			17,637			668,381
End of year		54,723			417,247			37,260			969,141

Proved undeveloped reserves:
Beginning of year		17,206			309,925			18,157			522,103
End of year		45,535			309,969			21,774			713,819

Standardized Measure of Discounted Future Net Cash Flows

The standardized measure of discounted future net cash flows is as follows:

	Years Ended December 31,
	2016			2015			2014
	(In thousands)
Future cash inflows	$	3,666,731		$	5,952,935		$	14,190,450
Future production costs		(2,384,195	)		(3,194,577	)		(4,821,051	)
Future development costs		(440,496	)		(808,512	)		(1,455,926	)
Future income tax expense (1)		—			—			(119,675	)
Future net cash flows for estimated timing of cash flows		842,040			1,949,846			7,793,798
10% annual discount for estimated timing of cash flows		(446,199	)		(1,360,292	)		(4,881,811	)
Standardized measure of discounted future net cash flows	$	395,841		$	589,554		$	2,911,987

(1)

We are subject to the Texas margin tax based on the taxable margin apportioned to Texas. However, due to immateriality we have excluded the impact of this tax for the years ended December 31, 2016, 2015 and 2014. The 2014 amount was related to Classic since its reserves were a part of a taxable entity for federal income tax purposes for the year ended December 31, 2014.

Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves

The following is a summary of the changes in the standardized measure of discounted future net cash flows for the proved oil and natural gas reserves during each of the years in the three year period ended December 31, 2016:

	Years Ended December 31,
	2016			2015			2014
	(In thousands)
Beginning of year	$	589,554		$	2,911,987		$	1,718,204
Sale of oil and natural gas produced, net of production costs		(107,357	)		(128,382	)		(354,932	)
Purchase of minerals in place		—			75,998			1,489,477
Sale of minerals in place		(28,277	)		(45,100	)		—
Extensions and discoveries		2,016			18,582			44,843
Changes in income taxes, net		—			63,180			(63,180	)
Changes in prices and costs		(404,870	)		(2,764,481	)		(170,682	)
Previously estimated development costs incurred		89,748			322,446			275,078
Net changes in future development costs		254,043			448,089			(133,098	)
Revisions of previous quantities		14,414			(344,775	)		(48,087	)
Accretion of discount		58,956			297,517			171,820
Change in production rates and other		(72,386	)		(265,507	)		(17,456	)
End of year	$	395,841		$	589,554		$	2,911,987

- Definition

Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

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- Definition

Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed.

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