Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes

Schedule of income taxes attributable to continuing operations

	Year Ended		Year Ended		Year Ended
	December 31, 2015		December 31, 2014		December 31, 2013
	(In Thousands)		(In Thousands)		(In Thousands)
Current:
Federal	$	—	$	—	$	—
State		—		—		—
Total Current Tax Expense	$	—	$	—	$	—
Deferred:
Federal	$	3,043	$	33,499	$	—
State		44		1,488		—
Total Deferred Tax Expense	$	3,087	$	34,987	$	—
Total Income Tax Expense	$	3,087	$	34,987	$	—

Schedule of effective income tax rate reconciliation

	Year Ended			Year Ended			Year Ended
	December 31, 2015			December 31, 2014			December 31, 2013
	(In Thousands)			(In Thousands)			(In Thousands)
Federal income tax at 35% of earnings from continuing operations before income taxes	$	(782,795)		$	(102,107)		$	3,702
State income taxes, net of federal income tax benefits		(7,422)			(2,131)			—
Earnings not subject to tax		—			(40,509)			(3,702)
Change in non-tax deductible goodwill		—			16,767			—
Change in tax status		—			81,728			—
Change in prior year estimate		3,087
Other		846			8			—
Change in valuation allowance (current year activity only)		789,371			81,231			—
Total income tax	$	3,087		$	34,987		$	—
Effective Tax Rate		(0.14)	%		(11.99)	%		0.00	%

Summary of previously reported and restated balances

	Consolidated Balance Sheet
	as of December 31, 2014
	As Previously Reported		As Currently Reported
	(in thousands)
Assets
Other assets:
Deferred income taxes		117,662		—
Total assets	$	2,509,928	$	2,392,266
Liabilities and shareholders’ deficit
Current liabilities:
Deferred income taxes	$	117,662	$	—
Total liabilities and shareholders’ deficit	$	2,509,928	$	2,392,266

Schedule of components of net deferred tax assets and liabilities

	Year Ended		Year Ended
	December 31, 2015		December 31, 2014
	(in thousands)
Deferred tax assets:
Property and equipment	$	654,229	$	279,955
Goodwill		8,630		9,302
Net operating loss carryforwards		353,579		180,134
Liabilities subject to compromise		49,070		—
Other		23,860		48,372
Total gross deferred tax assets	$	1,089,368	$	517,763
Less valuation allowance	$	(1,087,637)	$	(344,740)
Net deferred tax assets	$	1,731	$	173,023
Deferred tax liabilities:
Unrealized gains on derivative instruments, net	$	—	$	(27,766)
Long-term liabilities		(52)		(143,259)
Other		(1,679)		(1,998)
Total gross deferred tax liabilities	$	(1,731)	$	(173,023)

Schedule of unrecognized tax benefits

	Year Ended		Year Ended		Year Ended
	December 31, 2015		December 31, 2014		December 31, 2013
	(In Thousands)		(In Thousands)		(In Thousands)
Gross unrecognized tax benefits at beginning of period	$	8,691	$	—	$	—
Increases as a result of tax positions taken during a prior period		—		8,691		—
Decreases as a result of tax positions taken during a prior period		—		—		—
Gross unrecognized tax benefits at end of period	$	8,691	$	8,691	$	—