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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Operating revenue:        
Oil production $ 111,585 $ 142,393 $ 219,092 $ 280,682
Natural gas production 26,907 46,667 55,244 103,029
Natural gas liquids production 11,033 15,936 23,399 43,906
Other operational income   2,050 1,792 3,047
Derivative income, net     2,427  
Total operating revenue 149,525 207,046 301,954 430,664
Operating expenses:        
Lease operating expenses 27,429 49,454 55,006 96,357
Transportation, processing and gathering expenses 19,940 14,098 37,643 28,724
Production taxes 1,827 3,257 4,342 6,319
Depreciation, depletion and amortization 77,951 92,835 164,373 175,481
Write-down of oil and gas properties 224,294   715,706  
Accretion expense 6,408 7,733 12,817 15,288
Salaries, general and administrative expenses 16,418 16,637 33,425 32,966
Incentive compensation expense 1,264 3,903 2,827 7,037
Other operational expenses 1,454   1,170 212
Derivative expense, net 701 2,516   3,115
Total operating expenses 377,686 190,433 1,027,309 365,499
Income (loss) from operations (228,161) 16,613 (725,355) 65,165
Other (income) expenses:        
Interest expense 10,472 9,913 20,837 18,270
Interest income (66) (193) (188) (336)
Other income (613) (722) (756) (1,429)
Other expense   179   179
Total other (income) expenses 9,793 9,177 19,893 16,684
Income (loss) before income taxes (237,954) 7,436 (745,248) 48,481
Provision (benefit) for income taxes:        
Deferred (85,048) 2,992 (264,954) 18,094
Total income taxes (85,048) 2,992 (264,954) 18,094
Net income (loss) $ (152,906) $ 4,444 $ (480,294) $ 30,387
Basic earnings (loss) per share $ (2.77) $ 0.08 $ (8.70) $ 0.59
Diluted earnings (loss) per share $ (2.77) $ 0.08 $ (8.70) $ 0.59
Average shares outstanding 55,251 52,050 55,216 50,540
Average shares outstanding assuming dilution 55,251 52,373 55,216 50,727