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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Natural gas sales $ 36,852 $ 33,654 $ 87,726 $ 80,411
Oil sales 13,478 27,706 39,482 124,783
Total oil and gas sales 50,330 61,360 127,208 205,194
Operating expenses:        
Production taxes 1,556 2,170 4,069 8,951
Gathering and transportation 3,829 3,729 12,219 9,842
Lease operating 12,301 16,687 38,249 49,650
Exploration 76,391 5,040 84,144 70,309
Depreciation, depletion and amortization 37,545 79,445 112,410 261,907
General and administrative 4,188 5,653 15,426 20,795
Impairment of oil and gas properties 113 544,714 24,573 547,101
Loss (gain) on sales and exchange of oil and gas properties 13,196 (52) 14,103 111,778
Total operating expenses 149,119 657,386 305,193 1,080,333
Operating loss (98,789) (596,026) (177,985) (875,139)
Other income (expenses):        
Net gain on extinguishment of debt 100,540 51,054 190,116 55,586
Gain from derivative financial instruments   1,078 674 1,705
Other income 175 411 770 1,054
Interest expense (31,227) (32,159) (90,053) (86,720)
Total other income (expenses) 69,488 20,384 101,507 (28,375)
Loss before income taxes (29,301) (575,642) (76,478) (903,514)
Benefit from (provision for) income taxes 825 30,646 (3,723) 144,948
Net loss $ (28,476) $ (544,996) $ (80,201) $ (758,566)
Net loss per share – basic and diluted $ (2.32) $ (59.05) $ (7.13) $ (82.27)
Weighted average shares outstanding – basic and diluted 12,293 9,230 11,255 9,220