Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Summary of net deferred tax position

The Company’s net deferred tax position as of December 31, 2015 and 2014, respectively, is as follows (in thousands).

	December 31,
	2015			2014
Deferred tax assets
Net operating loss carryforwards	$	79,208		$	88,447
Alternative minimum tax carryforward	9,785			7,197
Percentage depletion carryover	2,442			2,068
Property and equipment	42,757			113
Deferred gain on sale leaseback transaction	32,831			—
Other	7,396			281
Total deferred tax assets	174,419			98,106
Valuation allowance on deferred tax assets	(154,320		)	—
Total deferred tax assets, net of valuation allowance	20,099			98,106
Deferred tax liabilities
Unrealized gain on derivatives	(5,699		)	(20,145		)
Property and equipment	—			(145,620		)
Other	(14,400		)	(5,875		)
Total deferred tax liabilities	(20,099		)	(171,640		)
Net deferred tax liabilities	$	—		$	(73,534	)

Income tax expense reconciled to the tax computed at the statutory federal rate

The income tax expense reconciled to the tax computed at the statutory federal rate for the years ended December 31, 2015, 2014 and 2013, respectively, is as follows (in thousands).

	Year Ended December 31,
	2015			2014			2013
Current income tax provision
State income tax	$	371		$	—		$	—
Federal alternative minimum tax	2,588			133			404
Net current income tax provision	2,959			133			404
Deferred income tax provision (benefit)
Federal tax expense at statutory rate (1)	(289,412		)	61,301			19,177
State income tax	(13,215		)	2,707			431
Permanent differences (2)	698			397			319
Federal alternative minimum tax	(2,588		)	(133		)	(404		)
Change in federal valuation allowance	145,777			—			(8,885		)
Change in state valuation allowance	8,413			(30		)	(1,345		)
Net deferred income tax (benefit) provision	(150,327		)	64,242			9,293
Total income tax (benefit) provision	$	(147,368	)	$	64,375		$	9,697

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(1) The statutory federal tax rate was 35% for the years ended December 31, 2015, 2014 and 2013.

(2) Amount is primarily attributable to stock-based compensation.