Fair Value of Acquired Properties (Tables)

12 Months Ended

Dec. 31, 2017

Acquisitions, Divestitures, and Assets Held for Sale Disclosure [Abstract]

Income (loss) before income taxes from sold assets [Table Text Block]

The following table presents income (loss) before income taxes from the outside-operated Eagle Ford shale assets sold for the years ended December 31, 2017, 2016, and 2015. This divestiture was considered a disposal of a significant asset group.

	For the Years Ended December 31,
	2017		2016			2015
	(in thousands)
Income (loss) before income taxes (1)	$	24,324	$	(218,506	)	$	71,556

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⁽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 approximately $269.6 million of impairment of proved properties expense for the year ended December 31, 2016.

Rock Oil schedule of fair value of assets and liabilities acquired [Table Text Block]

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 final 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	$	1,174,628
Fair value of equity consideration (1)	437,194
Total consideration	$	1,611,822
Assets and liabilities acquired:
Wells in progress	$	21,812
Proved oil and gas properties	61,239
Unproved oil and gas properties	1,538,264
Total oil and gas properties acquired	1,621,315
Working capital	(1,852		)
Asset retirement obligations	(7,641		)
Total net assets acquired	$	1,611,822

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⁽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 prohibited 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 final 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 Measurementsfor 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	$	998,691
Fair value of assets and liabilities acquired:
Wells in progress	$	5,672
Proved oil and gas properties	82,584
Unproved oil and gas properties	913,819
Other assets	5,338
Total fair value of oil and gas properties acquired	1,007,413
Working capital	(1,127		)
Asset retirement obligations	(7,595		)
Total fair value of net assets acquired	$	998,691