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Accounting Changes and Error Corrections Accounting Changes and Error Corrections (Tables)
6 Months Ended
Jun. 30, 2014
Accounting Changes and Error Corrections [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments
 
Consolidated Balance Sheets as of June 30, 2014
 
(As Reported)
Adjustments
(As Restated)
Accounts Receivable
$
68,615

$
772

$
69,387

Deferred tax asset
4,829

4,966

9,795

Other Current Assets
21,033

(1
)
21,032

Total Current Assets
95,041

5,737

100,778

Accumulated depreciation, depletion, and amortization (1)
(3,308,992
)
47,320

(3,261,672
)
Property and Equipment, Net
2,614,465

47,320

2,661,785

Total Assets
2,724,536

53,057

2,777,593

 
 
 
 
Deferred Tax Liabilities (1)
229,107

22,375

251,482

Retained earnings (1)
296,831

30,682

327,513

Total Stockholders’ Equity
1,054,463

30,682

1,085,145

Total Liabilities and Stockholders’ Equity
2,724,536

53,057

2,777,593

(1) The adjustments column includes the impact of correcting the error in the ceiling test write-down as of June 30, 2014. Included in these amounts are approximately $48 million related to Accumulated depreciation, depletion, and amortization, $18 million related to the net deferred tax liabilities and $30 million related to retained earnings.

 
Condensed Consolidated Statements of Operations For the Three Months Ended June 30,
 
2014
 
2013
 
(As Reported)
Adjustments
(As Restated)
 
(As Reported)
Adjustments
(As Restated)
Oil and Gas Sales
$
158,214

$
273

$
158,487

 
$
140,892

$
1,611

$
142,503

Total Revenues
155,721

273

155,994

 
142,466

1,611

144,077

General and Administrative, net
12,412

(354
)
12,058

 
11,191


11,191

Depreciation, depletion, and amortization
72,205

885

73,090

 
59,458

315

59,773

Lease operating cost
21,932

1,640

23,572

 
26,957


26,957

Total Costs and Expenses
142,062

2,171

144,233

 
131,451

315

131,766

Income (Loss) from Continuing Operations Before Income Taxes
13,659

(1,898
)
11,761

 
11,015

1,296

12,311

Provision (Benefit) for Income Taxes
5,621

(687
)
4,934

 
4,293

469

4,762

Net Income (Loss)
8,038

(1,211
)
6,827

 
6,722

827

7,549

 
 
 
 
 
 
 
 
Basic EPS:  Net Income (Loss)
$
0.18

$
(0.02
)
$
0.16

 
$
0.15

$
0.02

$
0.17

Diluted EPS:  Net Income (Loss)
$
0.18

$
(0.03
)
$
0.15

 
$
0.15

$
0.02

$
0.17


 
Condensed Consolidated Statements of Operations For the Six Months Ended June 30,
 
2014
 
2013
 
(As Reported)
Adjustments
(As Restated)
 
(As Reported)
Adjustments
(As Restated)
Oil and Gas Sales
$
306,772

$
772

$
307,544

 
$
287,369

$
1,665

$
289,034

Total Revenues
299,402

772

300,174

 
288,703

1,665

290,368

General and Administrative, net
23,151

(567
)
22,584

 
23,916


23,916

Depreciation, depletion, and amortization
133,890

1,851

135,741

 
119,578

651

120,229

Lease operating cost
47,199

1,340

48,539

 
54,381

(540
)
53,841

Transportation and gas processing
11,305


11,305

 
10,895

(1,292
)
9,603

Severance and other taxes
18,638


18,638

 
20,276

250

20,526

Total Costs and Expenses
274,082

2,624

276,706

 
266,102

(931
)
265,171

Income (Loss) from Continuing Operations Before Income Taxes
25,320

(1,852
)
23,468

 
22,601

2,596

25,197

Provision (Benefit) for Income Taxes
11,869

(670
)
11,199

 
8,670

940

9,610

Net Income (Loss)
13,451

(1,182
)
12,269

 
13,931

1,656

15,587

 
 
 
 
 
 
 
 
Basic EPS:  Net Income (Loss)
$
0.31

$
(0.03
)
$
0.28

 
$
0.32

$
0.04

$
0.36

Diluted EPS:  Net Income (Loss)
$
0.30

$
(0.02
)
$
0.28

 
$
0.32

$
0.04

$
0.36


 
Consolidated Statements of Cash Flows For the Six Months Ended June 30,
 
2014
 
2013
 
(As Reported)
Adjustments
(As Restated)
 
(As Reported)
Adjustments
(As Restated)
Net income (loss)
$
13,451

$
(1,182
)
$
12,269

 
$
13,931

$
1,656

$
15,587

Depreciation, depletion, and amortization
133,890

1,851

135,741

 
119,578

651

120,229

Deferred income taxes
11,869

(670
)
11,199

 
8,670

940

9,610

Share-based compensation expense
3,953

(270
)
3,683

 
6,018


6,018

Other
(2,439
)

(2,439
)
 
(6,024
)
(297
)
(6,321
)
(Increase) decrease in accounts receivable
2,132

(772
)
1,360

 
601

(1,665
)
(1,064
)
Increase (decrease) in accounts payable and accrued liabilities
4,852

1,043

5,895

 
3,605

(1,285
)
2,320

Net Cash Provided by Operating Activities
170,303


170,303

 
149,531


149,531