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QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information
The following is a summary of the unaudited quarterly financial data for the years ended December 31, 2015 and 2014:
 
 
Three Months Ended
 
    
March 31
    
June 30
    
September 30
    
December 31
 
 
(in thousands, except per share data)
2015
 
 
 
 
 
 
 
 
 
 
 
 
Oil and gas sales
 
$
73,076

 
$
90,422

 
$
72,149

 
$
57,032

Operating loss(1)
 
 
(11,688
)
 
 
(4,546
)
 
 
(9,133
)
 
 
(21,910
)
Net loss
 
 
(18,421
)
 
 
(41,164
)
 
 
(112,299
)
 
 
(573,663
)
Basic net loss per common share
 
$
(0.41
)
 
$
(0.83
)
 
$
(2.25
)
 
$
(12.08
)
Diluted net loss per common share
 
$
(0.41
)
 
$
(0.83
)
 
$
(2.25
)
 
$
(12.08
)
2014
 
 
 
 
 
 
 
 
 
 
 
 
Oil and gas sales(2)
 
$
127,395

 
$
151,682

 
$
156,371

 
$
123,185

Operating profit(1)(2)
 
 
58,432

 
 
63,284

 
 
59,579

 
 
25,707

Net income (loss)
 
 
13,531

 
 
1,158

 
 
48,782

 
 
(43,188
)
Basic net income (loss) per common share
 
$
0.34

 
$
0.03

 
$
1.18

 
$
(1.05
)
Diluted net income (loss) per common share
 
$
0.34

 
$
0.03

 
$
1.18

 
$
(1.06
)
_________________________
(1)
Oil and gas sales less lease operating expense, severance and ad valorem taxes, depreciation, and depletion and amortization.
(2)
Amounts reflect results for continuing operations and exclude results for discontinued operations related to non-core properties in California sold as of December 31, 2014.