SUMMARIZED QUARTERLY FINANCIAL INFORMATION - UNAUDITED

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

SUMMARIZED QUARTERLY FINANCIAL INFORMATION - UNAUDITED

SUMMARIZED QUARTERLY FINANCIAL INFORMATION – UNAUDITED:

The results of operations by quarter are as follows:

	2015
	Quarter Ended
	March 31			June 30			September 30			December 31
Operating revenue	$	153,498		$	149,525		$	132,196		$	110,499
Loss from operations	(497,194		)	(228,161		)	(297,209		)	(342,759		)
Net loss	(327,388		)	(152,906		)	(291,965		)	(318,656		)
Basic loss per share	$	(5.93	)	$	(2.77	)	$	(5.28	)	$	(5.76	)
Diluted loss per share	$	(5.93	)	$	(2.77	)	$	(5.28	)	$	(5.76	)
Write-down of oil and gas properties before income tax effect	$	491,412		$	224,294		$	295,679		$	351,062
Write-down of oil and gas properties net of income tax effect	314,504			143,548			189,235			224,680

	2014
	Quarter Ended
	March 31		June 30		September 30			December 31
Operating revenue	$	223,830	$	207,046	$	183,213		$	184,780
Income (loss) from operations	48,552		16,613		(34,356		)	(286,147		)
Net income (loss)	25,943		4,444		(29,415		)	(190,515		)
Basic earnings (loss) per share	$	0.52	$	0.08	$	(0.54	)	$	(3.47	)
Diluted earnings (loss) per share	$	0.52	$	0.08	$	(0.54	)	$	(3.47	)
Write-down of oil and gas properties before income tax effect	$	—	$	—	$	47,130		$	304,062
Write-down of oil and gas properties net of income tax effect	—		—		30,163			194,600