Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule of income tax provision (benefit)

	Successor		Predecessor
	For the Period October 21, 2016 through December 31, 2016		For the Period January 1, 2016 through October 20, 2016
					For the Years Ended December 31,
					2015			2014
	(in thousands)		(in thousands)
Current
United States	$	—	$	—	$	—		$	—
State		—		—		—			809
Total current		—		—		—			809
Deferred
United States		—		—		(3,864	)		3,863
State		—		—		(5,777	)		1,723
Total deferred		—		—		(9,641	)		5,586
Total income tax provision (benefit)	$	—	$	—	$	(9,641	)	$	6,395

Schedule of difference between the Company's estimated income tax from amount derived by applying statutory federal rate to pretax income

	Successor			Predecessor
	For the Period October 21, 2016 through December 31, 2016			For the Period January 1, 2016 through October 20, 2016
							Years Ended December, 31
							2015			2014
	(in thousands)			(in thousands)
Income (loss) before taxes	$	9,930		$	1,323,079		$	(1,806,836	)	$	123,324
Statutory rate		35	%		35	%		35	%		35	%
Income tax provision (benefit) computed at statutory rate		3,475			463,078			(632,393	)		43,164
Reconciling items:
State income taxes, net of federal benefit		296			39,424			(65,904	)		4,398
Change in valuation allowance		(3,876	)		(528,706	)		689,419			(42,134	)
Change in state rate		(1	)		(153	)		(612	)		(414	)
Bankruptcy items		—			12,262			—			—
Deferred tax true-ups		74			9,891			—			—
Other, net		32			4,204			(151	)		1,381
Total income tax provision (benefit)	$	—		$	—		$	(9,641	)	$	6,395

Schedule of components of the entity's deferred taxes

The components of our deferred taxes are detailed in the table below (in thousands):

	Successor			Predecessor
	As of December 31, 2016			As of December 31, 2015
Deferred tax assets—current
Derivative instruments and other	$	—		$	—
Less valuation allowance		—			—
Total deferred tax assets, current	$	—		$	—
Deferred tax assets—noncurrent
Federal tax loss carryforwards		—			146,641
State tax loss carryforwards		—			13,848
Employee benefit plans		3,649			1,160
Oil and gas properties and equipment		157,113			465,028
Debt restructuring		—			66,693
Other		27			—
Less valuation allowance		(160,789	)		(693,370	)
Total deferred tax assets, noncurrent	$	—		$	—
Deferred tax liabilities—current
Derivative instruments and other		—			—
Total deferred tax liabilities—current	$	—		$	—
Deferred tax liabilities—noncurrent
Oil and gas properties and equipment		—			—
Total deferred tax liabilities, noncurrent	$	—		$	—
Reflected in the accompanying balance sheet as:
Net deferred tax asset, current	$	—		$	—
Net deferred tax liability, current	$	—		$	—
Net deferred tax asset, noncurrent	$	—		$	—
Net deferred tax liability, noncurrent	$	—		$	—