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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues      
Crude oil $ 220,596 $ 420,286 $ 347,407
Natural gas liquids (NGLs) 16,905 34,552 30,748
Natural gas 25,479 58,044 52,538
Gain (loss) on sales of property and equipment, net 41,335 120,769 (266)
Other, net 983 3,122 1,041
Total revenues 305,298 636,773 431,468
Operating expenses      
Lease operating 42,428 48,298 35,461
Gathering, processing and transportation 23,815 18,294 12,839
Production and ad valorem taxes 16,282 27,990 22,404
General and administrative 43,328 49,005 53,998
Exploration 12,583 17,063 20,994
Depreciation, depletion and amortization 334,479 300,299 245,594
Impairments 1,397,424 791,809 132,224
Total operating expenses 1,870,339 1,252,758 523,514
Operating loss (1,565,041) (615,985) (92,046)
Other income (expense)      
Interest expense (90,951) (88,831) (78,841)
Loss on extinguishment of debt 0 0 (29,174)
Derivatives 71,247 162,212 (20,852)
Other (3,587) 1,334 147
Loss before income taxes (1,588,332) (541,270) (220,766)
Income tax benefit 5,371 131,678 77,696
Net loss (1,582,961) (409,592) (143,070)
Preferred stock dividends [1] (22,789) (17,148) (6,900)
Induced conversion of preferred stock 0 (4,256) 0
Net loss attributable to common shareholders $ (1,605,750) $ (430,996) $ (149,970)
Net loss per share:      
Basic (in dollars per share) $ (21.81) $ (6.26) $ (2.41)
Diluted (in dollars per share) $ (21.81) $ (6.26) $ (2.41)
Weighted average shares outstanding – basic 73,639 68,887 62,335
Weighted average shares outstanding – diluted 73,639 68,887 62,335
[1] Preferred stock dividends were excluded from diluted earnings per share for the years ended December 31, 2015, 2014 and 2013, as the assumed conversion of the outstanding preferred stock would have been anti-dilutive.