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Acquisitions, Divestitures, and Assets Held for Sale Fair Value of Acquired Properties (Tables)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2014
Fair Value Disclosures [Abstract]    
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
QStar Acquisition. On December 21, 2016, the Company acquired additional proved and unproved properties in the Midland Basin from QStar LLC and RRP-QStar, LLC (referred to as the “QStar Acquisition”) for $1.6 billion, consisting of $1.2 billion in cash consideration and the issuance of approximately 13.4 million shares of the Company’s common stock. The cash consideration was funded by proceeds from the recent Raven/Bear Den divestiture and the December 2016 equity offering. Please refer to Note 15 - Equity for additional discussion. The effective date of the acquisition was September 1, 2016. Under authoritative accounting guidance, the transaction was considered an asset acquisition, and therefore, the properties were recorded based on the fair value of the total consideration transferred on the acquisition date and transaction costs were capitalized as a component of the cost of the assets acquired.

The Company allocated the preliminary adjusted purchase price to the acquired assets and liabilities, as summarized in the table below.
 
As of December 21, 2016
 
(in thousands)
Cash consideration, including acquisition costs paid
$
1,167,373

Fair value of equity consideration (1)
437,194

Total consideration at closing
$
1,604,567

 
 
Assets and liabilities acquired:
 
Wells in progress
$
21,812

Proved oil and gas properties
61,614

Unproved oil and gas properties
1,537,923

Total oil and gas properties acquired
1,621,349

Working capital
(9,141
)
Asset retirement obligation
(7,641
)
Total net assets acquired
$
1,604,567

____________________________________________
(1) 
The Company issued approximately 13.4 million shares of common stock, par value $0.01 per share, in a private placement to the sellers in the QStar Acquisition on December 21, 2016. The equity consideration was valued on this date using Level 1 and Level 2 inputs with a discount applied due to the lack of marketability in the near term in accordance with the Lock-Up and Registration Rights Agreement that prohibits the sale of such stock until no earlier than the 90th day after issuance.
The Company determined that the Rock Oil Acquisition met the criteria of a business combination under ASC Topic 805, Business Combinations. The Company allocated the preliminary adjusted purchase price to the acquired assets and liabilities based on fair value as of the acquisition date, as summarized in the table below. This measurement resulted in no goodwill or bargain purchase gain being recognized. Refer to Note 11 - Fair Value Measurements for additional discussion on the valuation techniques used in determining the fair value of the acquired properties. The acquisition costs were insignificant and were expensed as incurred.
 
As of October 4, 2016
 
(in thousands)
Cash consideration
$
991,038

 
 
Fair value of assets and liabilities acquired:
 
Wells in progress
$
5,672

Proved oil and gas properties
81,917

Unproved oil and gas properties
913,594

Other assets
5,338

Total fair value of oil and gas properties acquired
1,006,521

Working capital
(7,888
)
Asset retirement obligation
(7,595
)
Total fair value of net assets acquired
$
991,038
Each of these acquisitions qualified as a business combination under ASC Topic 805, Business Combinations. The Company allocated the final adjusted purchase prices to the acquired assets and liabilities based on fair value as of the respective acquisition dates, as summarized in the table below. These measurements resulted in no goodwill or bargain purchase gain being recognized.

 
Acquisition #1
 
Acquisition #2
 
As of September 24, 2014
 
As of October 15, 2014
 
(in thousands)
Cash consideration
$
321,807

 
$
84,836

 
 
 
 
Fair value of assets and liabilities acquired:
 
 
 
Proved oil and gas properties
$
203,467

 
$
54,612

Unproved oil and gas properties
126,588

 
29,610

Total fair value of oil and gas properties acquired
330,055

 
84,222

Working capital
(6,135
)
 
2,232

Asset retirement obligation
(2,113
)
 
(1,618
)
Total fair value of net assets acquired
$
321,807

 
$
84,836
Disposal Groups, Including Discontinued Operations [Table Text Block]
The following table presents income (loss) before income taxes of the Raven/Bear Den assets sold on December 1, 2016, for the years ended December 31, 2016, 2015, and 2014. This divestiture is considered a disposal of a significant asset group.
 
For the Years Ended December 31,
 
2016
 
2015
 
2014
 
(in thousands)
Income (loss) before income taxes (1)
$
(6,601
)
 
$
(12,530
)
 
$
197,256

____________________________________________
(1) 
Income (loss) before income taxes reflects oil, gas, and NGL production revenue, less oil, gas, and NGL production expense and depletion, depreciation, amortization, and asset retirement obligation liability accretion. Additionally, income (loss) before income taxes includes impairment of proved properties expense of approximately $17.8 million for the year ended December 31, 2015.
The following table presents income (loss) before income taxes for the years ended December 31, 2016, 2015, and 2014, of the Company’s outside-operated Eagle Ford shale assets held for sale as of December 31, 2016, which is considered a significant asset disposal group.

 
For the Years Ended December 31,
 
2016
 
2015
 
2014
 
(in thousands)
Income (loss) before income taxes (1)
$
(218,506
)
 
$
71,556

 
$
294,376

____________________________________________
(1) 
Income (loss) before income taxes reflects oil, gas, and NGL production revenue less oil, gas, and NGL production expense and depletion, depreciation, amortization, and asset retirement obligation liability accretion expense. Additionally, loss before income taxes for the year ended December 31, 2016, includes $269.6 million of proved property impairment expense.