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Income Taxes
3 Months Ended
Mar. 31, 2016
Income Tax Disclosure [Abstract]  
INCOME TAXES
INCOME TAXES
At March 31, 2016, the Company’s deferred tax assets exceeded its deferred tax liabilities due to the deferred tax assets generated by the full cost ceiling impairment charges recorded; as a result, the Company established a valuation allowance against most of the deferred tax assets beginning in the third quarter of 2015. The valuation allowance will continue to be recognized until the realization of future deferred tax benefits are more likely than not to be utilized.
The total income tax benefit for the three months ended March 31, 2015 differed from amounts computed by applying the U.S. federal statutory tax rate to loss before income taxes due primarily to the impact of permanent differences between book and taxable income.