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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
1 Months Ended 2 Months Ended 3 Months Ended 5 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2014
Jun. 03, 2014
[1]
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 03, 2014
Dec. 31, 2014
Dec. 31, 2013
Jun. 30, 2013
Mar. 31, 2015
Mar. 31, 2014
Jun. 30, 2015
Dec. 31, 2013
Jun. 30, 2013
Dec. 31, 2012
Jun. 30, 2012
Revenue:                                        
Oil and natural gas           $ 171,881     $ 183,114                      
Gain (loss) on derivative instruments           21,857                            
Other           389     878                      
Total revenue $ 50,524 $ 116,909 $ 109,828 [2] $ 83,210 [3] $ 155,638 [4] 194,127 [5] $ 159,491 [6]   183,992 $ 276,400     $ 366,436              
Costs and expenses:                                        
Lease operating           56,300     42,291                      
Transportation           625     974                      
Exploration expenditures and dry hole costs                 5,146                      
Impairments of oil and gas properties     584,200             100 $ 690,300         $ 1,678,800 $ 2,900   $ 8,900  
Goodwill impairment           329,293     12                      
Depreciation, depletion and amortization           73,745     53,989                      
Accretion of liability for asset retirement obligations 2,022         6,181     6,266 11,771 12,279     $ 17,788   23,400 28,299      
General and administrative       10,400 5,400 8,042     6,426   9,100         22,400        
Taxes, other than on earnings           2,528     3,285                      
Gain on sale of assets                 (1,745)                      
Other           21     26,534                      
Total costs and expenses 46,309 140,742 729,475 [2] 548,278 [3] 850,164 [4] 476,735 [5] 112,095 [6]   143,178                      
Income from operations 4,215 (23,833) (619,647) [2] (465,068) [3] (694,526) [4] (282,608) [5] 47,396 [6]   40,814 23,563     158,244              
Other income (expense):                                        
Interest income                 64                      
Interest expense           (10,901)     (13,177)                      
Gain (loss) on derivative instruments                 (30,012)                      
Total other income (expense)           (10,901)     (43,125)                      
Income (loss) before provision for income taxes 592         (293,509)     (2,311) (18,461)     155,057              
Deferred income tax expense 219         12,847     (1,027) 4,495     56,441     (459,223) 49,687   29,900  
Net income (loss) 373 $ (36,287) $ (597,265) [2] (295,633) [3] (454,612) [4] (306,356) [5] $ 13,331 [6]   $ (1,284) $ (22,956)     $ 98,616              
Basic earnings (loss) per share   $ (0.94)         $ 0.34 [6]   $ (0.03) $ (0.59)     $ 2.51              
Diluted earnings (loss) per share   $ (0.94)         $ 0.34 [6]   $ (0.03) $ (0.59)     $ 2.48              
Weighted average common shares used in computing earnings (loss) per share:                                        
Basic                 38,589 38,730     38,847              
Diluted                 38,589 38,730     39,302              
Successor Company [Member]                                        
Revenue:                                        
Oil and natural gas 61,271     85,423 132,833 171,881         304,714     390,137   501,789        
Gain (loss) on derivative instruments (11,079)     (2,213) 22,262 21,857         44,119     41,906   40,082        
Other 332       543 389         932     932   932        
Total revenue 50,524     83,210 155,638 194,127         349,765     432,975   542,803        
Costs and expenses:                                        
Lease operating 17,746     49,571 55,304 56,300         111,604     161,175   211,699        
Transportation 299     543 1,149 625         1,774     2,317   3,035        
Impairments of oil and gas properties       404,254 690,312           690,312     1,094,566   1,678,804        
Goodwill impairment           329,293         329,293     329,293   329,293        
Depreciation, depletion and amortization 22,775     73,349 88,547 73,745         162,292     235,641   314,953        
Accretion of liability for asset retirement obligations 2,022     5,509 6,098 6,181         12,279     17,788   23,400        
General and administrative 2,617     11,998 6,810 8,042         14,852     26,850   35,324        
Taxes, other than on earnings 850     3,057 1,944 2,528         4,472     7,529   8,126        
Other       (3)   21         21     18   18        
Total costs and expenses 46,309     548,278 850,164 476,735         1,326,899     1,875,177   2,604,652        
Income from operations 4,215     (465,068) (694,526) (282,608)         (977,134)     (1,442,202)   (2,061,849)        
Other income (expense):                                        
Interest income 4     6 4 (10,901)         4     10   18        
Interest expense (3,627)     (12,558) (10,947) (10,901)         (21,848)     (34,406)   (51,258)        
Gain (loss) on derivative instruments       (1,633) 22,262 21,857         44,119     42,486            
Total other income (expense) (3,623)     (12,552) (10,943) (10,901)         (21,844)     (34,396)   (51,240)        
Income (loss) before provision for income taxes 592     (477,620) (705,469) (293,509)         (998,978)     (1,476,598)   (2,113,089)        
Deferred income tax expense 219     (181,987) (250,857) 12,847         (238,010)     (419,997)   (459,223)        
Net income (loss) $ 373     $ (295,633) $ (454,612) (306,356)         $ (760,968)     $ (1,056,601)   $ (1,653,866)        
Predecessor Company [Member]                                        
Revenue:                                        
Oil and natural gas             $ 158,470 $ 141,645 $ 183,114 $ 274,772   $ 324,759     $ 483,229   688,743   422,529  
Gain (loss) on derivative instruments                   (19,420)               $ (32,361)   $ (13,305)
Other             1,021 965 878 1,628   1,843     2,864   4,295   1,104  
Total revenue             159,491 142,610 183,992 276,400   326,602     486,093   693,038   423,633  
Costs and expenses:                                        
Lease operating             41,734 39,178 42,291 72,302   81,469     123,203   165,841   94,850  
Transportation             900 1,251 974 1,475   2,225     3,125   3,568   615  
Exploration expenditures and dry hole costs             4,941 12,946 5,146 26,239   18,092     23,033   26,555   18,799  
Impairments of oil and gas properties             61 754   61   766     827   2,937   8,883  
Goodwill impairment                 12                      
Depreciation, depletion and amortization             45,645 46,512 53,989 85,127   100,501     146,146   200,359   113,581  
Accretion of liability for asset retirement obligations             6,997 9,835 6,266 11,771   16,101     23,098   28,299   15,565  
General and administrative             10,287 7,210 6,426 51,434   13,636     23,923   28,137   23,208  
Taxes, other than on earnings             2,472 2,606 3,285 4,384   5,891     8,363   11,490   13,007  
Gain on sale of assets               (80) (1,745)     (1,825)     (1,825)   (28,681)      
Other             (942) 1,865 26,534 44   28,399     27,457   34,942   4,678  
Total costs and expenses             112,095 122,077 143,178 252,837   265,255     377,350   473,447   293,186  
Income from operations             47,396 20,533 40,814 23,563   61,347     108,743   219,591   130,447  
Other income (expense):                                        
Interest income             10 8 64 17   72     82   99   136  
Interest expense             (13,304) (12,998) (13,177) (22,621)   (26,175)     (39,479)   (52,368)   (28,568)  
Gain (loss) on derivative instruments           $ (30,012) (13,142) (25,328) (30,012) (19,420)   (55,340)     (68,482)   (32,361)   (13,305)  
Total other income (expense)             (26,436) (38,318) (43,125) (42,024)   (81,443)     (107,879)   (84,630)   (41,737)  
Income (loss) before provision for income taxes             20,960 (17,785) (2,311) (18,461)   (20,096)     864   134,961   88,710  
Deferred income tax expense             7,629 (5,727) (1,027) 4,495   (6,754)     875   49,687   29,900  
Net income (loss)             $ 13,331 $ (12,058) $ (1,284) $ (22,956)   $ (13,342)     $ (11)   $ 85,274   $ 58,810  
Basic earnings (loss) per share             $ 0.34 $ (0.31) $ (0.03) $ (0.59)   $ (0.35)     $ 0.00   $ 2.18   $ 1.50  
Diluted earnings (loss) per share             $ 0.34 $ (0.31) $ (0.03) $ (0.59)   $ (0.35)     $ 0.00   $ 2.15   $ 1.50  
Weighted average common shares used in computing earnings (loss) per share:                                        
Basic             38,714 38,641 38,589 38,730   38,615     38,648   38,730   38,885  
Diluted             39,233 38,641 38,589 38,730   38,615     38,648   39,236   39,034  
[1] Included in costs and expenses for the period from April 1, 2014 through June 3, 2014 are merger related costs totaling $43.5 million.
[2] Included in costs and expenses for the three months ended June 30, 2015 is impairment of oil and natural gas properties of $584.2 million.
[3] Included in costs and expenses for the three months ended March 31, 2015 is impairment of oil and natural gas properties of $404.3 million.
[4] Included in costs and expenses for the three months ended December 31, 2014 is impairment of oil and natural gas properties of $690.3 million.
[5] Included in costs and expenses for the three months ended September 30, 2014 is goodwill impairment of $329.3 million.
[6] Included in costs and expenses for the three months ended March 31, 2014 are merger related costs totaling $2.2 million.