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Consolidated statements of operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues:      
Oil, NGL and natural gas sales $ 431,734 $ 737,203 $ 664,844
Midstream service revenues 6,548 2,245 413
Sales of purchased oil 168,358 54,437 0
Total revenues 606,640 793,885 665,257
Costs and expenses:      
Lease operating expenses 108,341 96,503 79,136
Production and ad valorem taxes 32,892 50,312 42,396
Midstream service expenses 5,846 5,429 3,368
Minimum volume commitments 5,235 2,552 891
Costs of purchased oil 174,338 53,967 0
Drilling rig fees 0 527 0
General and administrative [1] 90,425 106,044 89,696
Restructuring expenses 6,042 0 0
Accretion of asset retirement obligations 2,423 1,787 1,475
Depletion, depreciation and amortization [2] 277,724 246,474 233,944
Impairment expense 2,374,888 3,904 0
Total costs and expenses 3,078,154 567,499 450,906
Operating income (loss) (2,471,514) 226,386 214,351
Gain (loss) on derivatives:      
Commodity derivatives, net 214,291 327,920 79,902
Interest rate derivatives, net 0 0 (24)
Income (loss) from equity method investee 6,799 (192) 29
Interest expense [3] (103,219) (121,173) (100,327)
Interest and other income 426 294 163
Loss on early redemption of debt (31,537) [4] 0 0
Write-off of debt issuance costs 0 (124) (1,502)
Loss on disposal of assets, net (2,127) (3,252) (1,508)
Non-operating income (expense), net 84,633 203,473 (23,267)
Income (loss) from continuing operations before income taxes (2,386,881) 429,859 191,084
Income tax benefit (expense):      
Deferred 176,945 (164,286) (74,507)
Total income tax benefit (expense) [5] 176,945 (164,286) (74,507)
Income (loss) from continuing operations (2,209,936) 265,573 116,577
Income from discontinued operations, net of tax 0 0 1,423
Net income (loss) $ (2,209,936) $ 265,573 $ 118,000
Basic:      
Income (loss) from continuing operations (in dollars per share) $ (11.10) $ 1.88 $ 0.88
Income from discontinued operations, net of tax (in dollars per share) 0.00 0.00 0.01
Net income (loss) per share (in dollars per share) (11.10) 1.88 0.89
Diluted:      
Income (loss) from continuing operations (in dollars per share) (11.10) 1.85 0.87
Income from discontinued operations, net of tax (in dollars per share) 0.00 0.00 0.01
Net income (loss) per share (in dollars per share) $ (11.10) $ 1.85 $ 0.88
Weighted average common shares outstanding:      
Basic (in shares) [6] 199,158 141,312 132,490
Diluted (in shares) 199,158 143,554 134,378
[1] General and administrative costs were allocated based on the number of employees in the respective segment for the years ended December 31, 2015, 2014 and 2013. Certain components of general and administrative costs were not allocated and were based on actual costs for each segment, which primarily consisted of payroll, deferred compensation and vehicle costs for the years ended December 31, 2015 and 2014 and payroll and deferred compensation for the year ended December 31, 2013. Costs associated with land and geology were not allocated to the midstream and marketing segment for the years ended December 31, 2015, 2014 and 2013.
[2] Depletion, depreciation and amortization were based on actual costs for each segment with the exception of the allocation of depreciation of other fixed assets, which was based on the number of employees in the respective segment for the years ended December 31, 2015, 2014 and 2013.
[3] Interest expense was allocated to the exploration and production segment based on gross property and equipment for the years ended December 31, 2015, 2014 and 2013 and allocated to the midstream and marketing segment based on gross property and equipment and life-to-date contributions to the Company's equity method investee for the years ended December 31, 2015, 2014 and 2013.
[4] Loss on early redemption of debt was allocated to the exploration and production segment based on gross property and equipment for the year ended December 31, 2015 and allocated to the midstream and marketing segment based on gross property and equipment and life-to-date contributions to the Company's equity method investee for the year ended December 31, 2015.
[5] Income tax benefit or expense for the midstream and marketing segment was calculated by multiplying income (loss) from continuing operations before income taxes by 36%
[6] For the year ended December 31, 2015, weighted-average common shares outstanding used in the computation of basic and diluted net loss per share attributable to stockholders was computed taking into account the March 2015 Equity Offering. For the year ended December 31, 2013, weighted-average common shares outstanding used in the computation of basic and diluted net income per share attributable to stockholders was computed taking into account the August 2013 Equity Offering.