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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES        
Oil and natural gas sales $ 45,901 $ 64,984 $ 86,389 $ 111,598
Brokered natural gas and marketing revenue 1,165 9,469 10,283 6,669
Total revenues 47,066 74,453 96,672 118,267
OPERATING EXPENSES        
Lease operating 2,248 3,589 4,925 6,935
Transportation, gathering and compression 28,254 22,634 51,391 35,085
Production and ad valorem taxes 2,051 3,078 (233) 5,178
Brokered natural gas and marketing expense 2,160 10,795 11,562 10,795
Depreciation, depletion and amortization 20,949 60,641 36,062 103,073
Exploration 17,444 6,243 33,100 19,696
General and administrative 10,402 12,717 21,676 24,660
Rig termination and standby 1,292 366 3,955 7,423
Impairment of proved oil and gas properties     17,665 0
Accretion of asset retirement obligations 89 399 175 785
(Gain) loss on sale of assets (1,024) (5,553) (1,046) (5,473)
Total operating expenses 83,865 114,909 179,232 208,157
OPERATING LOSS (36,799) (40,456) (82,560) (89,890)
OTHER INCOME (EXPENSE)        
Gain (loss) on derivative instruments (29,596) (3,523) (19,046) 7,848
Interest expense, net (12,439) (14,401) (25,900) (28,422)
Gain on early extinguishment of debt 5,825   14,489 0
Other income (expense) (2) (2) (141) 400
Total other expense, net (36,212) (17,926) (30,598) (20,174)
LOSS BEFORE INCOME TAXES (73,011) (58,382) (113,158) (110,064)
INCOME TAX BENEFIT (EXPENSE)   16,412 (540) 33,991
NET LOSS $ (73,011) $ (41,970) $ (113,698) $ (76,073)
NET LOSS PER COMMON SHARE        
Basic and diluted $ (0.33) $ (0.19) $ (0.51) $ (0.36)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING        
Basic and diluted 223,013 222,502 222,898 213,178