Debt and Other Long Term Obligations (Tables)

9 Months Ended

Sep. 30, 2016

Outstanding Debt And Other Long Term Obligations Tables [Abstract]

Outstanding Debt And Other Long Term Obligations

3. DEBT AND OTHER LONG-TERM OBLIGATIONS:
		September 30,		December 31,
		2016		2015
Total Debt:
6.125% Senior Notes due 2024	$	850,000	$	850,000
5.75% Senior Notes due 2018		450,000		450,000
Senior Notes issued by Ultra Resources, Inc.		1,460,000		1,460,000
Credit Agreement		999,000		630,000
Total current portion of long-term debt		3,759,000		3,390,000
Less: Deferred financing costs(1)		-		(19,447)
Less: Liabilities subject to compromise(2) (See Note 1)		(3,759,000)		-
Total current portion of long-term debt not subject to compromise	$	-	$	3,370,553
Other long-term obligations:
Other long-term obligations	$	164,809	$	165,784

(1) A non-cash charge to write-off all of the unamortized debt issuance costs related to the unsecured Credit Agreement, unsecured Senior Notes issued by Ultra Resources, Inc., the unsecured 2018 Senior Notes issued by the Company and the unsecured 2024 Senior Notes issued by the Company is included in Reorganization items, net in the Consolidated Statements of Operations as these debt instruments are expected to be impacted by the pendency of the Company’s chapter 11 cases.

(2) We have significant indebtedness, all of which we have reclassified to liabilities subject to compromise at June 30, 2016 and continued to classify as liabilities subject to compromise at September 30,2016in the Consolidated Balance Sheets. Our level of indebtedness has adversely impacted and is continuing to adversely impact our financial condition. As a result of our financial condition, the defaults under our debt agreements and the risks and uncertainties surrounding our chapter 11 proceedings, substantial doubt exists that we will be able to continue as a going concern.