CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 11,955	$ 6,252
Accounts receivable, net of allowance for doubtful accounts	47,965	189,627
Derivative assets	97,956	128,981
Other current assets	7,104	10,114
Total current assets	164,980	334,974
Property and equipment, net (successful efforts method)	344,395	1,825,098
Derivative assets	0	35,897
Other assets	8,350	5,841
Total assets	517,725	2,201,810
Current liabilities
Accounts payable and accrued liabilities	103,525	312,227
Current portion of long-term debt	1,224,383	0
Total current liabilities	1,327,908	312,227
Other liabilities	104,938	123,886
Deferred income taxes	0	4,451
Long-term debt	$ 0	$ 1,085,429
Commitments and contingencies (Note 14)
Shareholders’ equity (deficit):
Preferred stock of $100 par value – 100,000 shares authorized; Series A – 3,915 and 7,945 shares issued as of December 31, 2015 and December 31, 2014, respectively, and Series B – 27,551 and 32,500 shares issued as of December 31, 2015 and December 31, 2014, respectively, each with a redemption value of $10,000 per share	$ 3,146	$ 4,044
Common stock of $0.01 par value – 228,000,000 shares authorized; 81,252,676 and 71,568,936 shares issued as of December 31, 2015 and December 31, 2014, respectively	628	529
Paid-in capital	1,211,088	1,206,305
Accumulated deficit	(2,130,271)	(535,176)
Deferred compensation obligation	3,440	3,211
Accumulated other comprehensive income	422	249
Treasury stock – 455,689 and 262,070 shares of common stock, at cost, as of December 31, 2015 and December 31, 2014, respectively	(3,574)	(3,345)
Total shareholders’ equity (deficit)	(915,121)	675,817
Total liabilities and shareholders’ equity (deficit)	$ 517,725	$ 2,201,810