Subsidiary Guarantor Subsidiary Guarantor (Tables)

3 Months Ended

Mar. 31, 2019

Subsidiary Guarantor [Abstract]

Schedule of Guarantor Obligations [Table Text Block]

The following condensed consolidating financial statements have been prepared on the same basis of accounting as our condensed consolidated financial statements. Investments in subsidiaries are accounted for under the equity method. Accordingly, the entries necessary to consolidate the Parent and Guarantor are reflected in the eliminations column.

	Condensed Consolidating Balance Sheets
	March 31, 2019
	Parent			Guarantor			Eliminations			Consolidated
	(in thousands)
Current assets:
Cash and cash equivalents	$	1,112		$	—		$	—		$	1,112
Accounts receivable, net	157,254			33,590			—			190,844
Fair value of derivatives	13,330			—			—			13,330
Prepaid expenses and other current assets	6,963			907			—			7,870
Total current assets	178,659			34,497			—			213,156
Properties and equipment, net	2,301,379			1,820,270			—			4,121,649
Assets held-for-sale	—			152,847			—			152,847
Intercompany receivable	528,315			—			(528,315		)	—
Investment in subsidiaries	1,309,187			—			(1,309,187		)	—
Fair value of derivatives	24,225			—			—			24,225
Other assets	44,755			7,296			—			52,051
Total Assets	$	4,386,520		$	2,014,910		$	(1,837,502	)	$	4,563,928
Liabilities and Stockholders' Equity
Liabilities
Current liabilities:
Accounts payable	$	110,019		$	105,536		$	—		$	215,555
Production tax liability	51,558			3,872			—			55,430
Fair value of derivatives	43,899			—			—			43,899
Funds held for distribution	75,899			15,716			—			91,615
Accrued interest payable	15,190			4			—			15,194
Other accrued expenses	65,902			2,934			—			68,836
Total current liabilities	362,467			128,062			—			490,529
Intercompany payable	—			528,315			(528,315		)	—
Long-term debt	1,289,046			—			—			1,289,046
Deferred income taxes	127,378			33,231			—			160,609
Asset retirement obligations	75,133			7,364			—			82,497
Liabilities held-for-sale	—			4,614			—			4,614
Fair value of derivatives	1,815			—			—			1,815
Other liabilities	120,926			4,137			—			125,063
Total liabilities	1,976,765			705,723			(528,315		)	2,154,173
Commitments and contingent liabilities
Stockholders' Equity
Common shares	662			—			—			662
Additional paid-in capital	2,521,558			1,766,775			(1,766,775		)	2,521,558
Retained earnings	(111,449		)	(457,588		)	457,588			(111,449		)
Treasury shares	(1,016		)	—			—			(1,016		)
Total stockholders' equity	2,409,755			1,309,187			(1,309,187		)	2,409,755
Total Liabilities and Stockholders' Equity	$	4,386,520		$	2,014,910		$	(1,837,502	)	$	4,563,928

	Condensed Consolidating Balance Sheets
	December 31, 2018
	Parent			Guarantor			Eliminations			Consolidated
	(in thousands)
Current assets:
Cash and cash equivalents	$	1,398		$	—		$	—		$	1,398
Accounts receivable, net	146,529			34,905			—			181,434
Fair value of derivatives	84,492			—			—			84,492
Prepaid expenses and other current assets	6,725			411			—			7,136
Total current assets	239,144			35,316			—			274,460
Properties and equipment, net	2,270,711			1,732,151			—			4,002,862
Assets held-for-sale	—			140,705			—			140,705
Intercompany receivable	451,601			—			(451,601		)	—
Investment in subsidiaries	1,316,945			—			(1,316,945		)	—
Fair value of derivatives	93,722			—			—			93,722
Other assets	30,084			2,312			—			32,396
Total Assets	$	4,402,207		$	1,910,484		$	(1,768,546	)	$	4,544,145
Liabilities and Stockholders' Equity
Liabilities
Current liabilities:
Accounts payable	$	110,847		$	71,017		$	—		$	181,864
Production tax liability	53,309			7,410			—			60,719
Fair value of derivatives	3,364			—			—			3,364
Funds held for distribution	90,183			15,601			—			105,784
Accrued interest payable	14,143			7			—			14,150
Other accrued expenses	73,689			1,444			—			75,133
Total current liabilities	345,535			95,479			—			441,014
Intercompany payable	—			451,601			(451,601		)	—
Long-term debt	1,194,876			—			—			1,194,876
Deferred income taxes	162,368			35,728			—			198,096
Asset retirement obligations	79,904			5,408			—			85,312
Liabilities held-for-sale	—			4,111			—			4,111
Fair value of derivatives	1,364			—			—			1,364
Other liabilities	91,452			1,212			—			92,664
Total liabilities	1,875,499			593,539			(451,601		)	2,017,437
Commitments and contingent liabilities
Stockholders' Equity
Common shares	661			—			—			661
Additional paid-in capital	2,519,423			1,766,775			(1,766,775		)	2,519,423
Retained earnings	8,727			(449,830		)	449,830			8,727
Treasury shares	(2,103		)	—			—			(2,103		)
Total stockholders' equity	2,526,708			1,316,945			(1,316,945		)	2,526,708
Total Liabilities and Stockholders' Equity	$	4,402,207		$	1,910,484		$	(1,768,546	)	$	4,544,145

	Condensed Consolidating Statements of Operations
	Three Months Ended March 31, 2019
	Parent			Guarantor			Eliminations		Consolidated
	(in thousands)
Revenues
Crude oil, natural gas and NGLs sales	$	254,849		$	66,250		$	—	$	321,099
Commodity price risk management loss, net	(190,074		)	—			—		(190,074		)
Other income	2,633			842			—		3,475
Total revenues	67,408			67,092			—		134,500
Costs, expenses and other
Lease operating expenses	23,634			11,587			—		35,221
Production taxes	15,885			6,283			—		22,168
Transportation, gathering and processing expenses	5,440			5,984			—		11,424
Exploration, geologic and geophysical expense	317			2,326			—		2,643
Impairment of properties and equipment	—			7,875			—		7,875
General and administrative expense	34,434			5,164			—		39,598
Depreciation, depletion and amortization	112,631			38,791			—		151,422
Accretion of asset retirement obligations	1,378			206			—		1,584
(Gain) loss on sale of properties and equipment	(382		)	13			—		(369		)
Other expenses	3,554			—			—		3,554
Total costs, expenses and other	196,891			78,229			—		275,120
Loss from operations	(129,483		)	(11,137		)	—		(140,620		)
Interest expense	(17,935		)	957			—		(16,978		)
Interest income	10			—			—		10
Loss before income taxes	(147,408		)	(10,180		)	—		(157,588		)
Income tax benefit	34,991			2,421			—		37,412
Equity in loss of subsidiary	(7,759		)	—			7,759		—
Net loss	$	(120,176	)	$	(7,759	)	$	7,759	$	(120,176	)

	Condensed Consolidating Statements of Operations
	Three Months Ended March 31, 2018
	Parent			Guarantor			Eliminations		Consolidated
	(in thousands)
Revenues
Crude oil, natural gas and NGLs sales	$	233,494		$	71,731		$	—	$	305,225
Commodity price risk management loss, net	(47,240		)	—			—		(47,240		)
Other income	2,516			99			—		2,615
Total revenues	188,770			71,830			—		260,600
Costs, expenses and other
Lease operating expenses	21,362			8,274			—		29,636
Production taxes	16,081			4,088			—		20,169
Transportation, gathering and processing expenses	3,231			4,082			—		7,313
Exploration, geologic and geophysical expense	313			2,333			—		2,646
Impairment of properties and equipment	6			33,182			—		33,188
General and administrative expense	31,559			4,137			—		35,696
Depreciation, depletion and amortization	94,376			32,412			—		126,788
Accretion of asset retirement obligations	1,200			88			—		1,288
Gain on sale of properties and equipment	1,432			—			—		1,432
Other expenses	2,768			—			—		2,768
Total costs, expenses and other	172,328			88,596			—		260,924
Income (loss) from operations	16,442			(16,766		)	—		(324		)
Interest expense	(18,097		)	568			—		(17,529		)
Interest income	148			—			—		148
Loss before income taxes	(1,507		)	(16,198		)	—		(17,705		)
Income tax benefit	577			3,989			—		4,566
Equity in loss of subsidiary	(12,209		)	—			12,209		—
Net loss	$	(13,139	)	$	(12,209	)	$	12,209	$	(13,139	)

	Condensed Consolidating Statements of Cash Flows
	Three Months Ended March 31, 2019
	Parent			Guarantor			Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	152,524		$	29,329		$	—		$	181,853
Cash flows from investing activities:
Capital expenditures for development of crude oil and natural gas properties	(161,482		)	(105,458		)	—			(266,940		)
Capital expenditures for other properties and equipment	(4,756		)	(70		)	—			(4,826		)
Proceeds from sale of properties and equipment	102			—			—			102
Intercompany transfers	(76,271		)	—			76,271			—
Net cash from investing activities	(242,407		)	(105,528		)	76,271			(271,664		)
Cash flows from financing activities:
Proceeds from revolving credit facility	432,000			—			—			432,000
Repayment of revolving credit facility	(340,500		)	—			—			(340,500		)
Purchase of treasury stock	(1,460		)	—			—			(1,460		)
Other	(443		)	(72		)	—			(515		)
Intercompany transfers	—			76,271			(76,271		)	—
Net cash from financing activities	89,597			76,199			(76,271		)	89,525
Net change in cash, cash equivalents and restricted cash	(286		)	—			—			(286		)
Cash, cash equivalents and restricted cash, beginning of period	9,399			—			—			9,399
Cash, cash equivalents and restricted cash, end of period	$	9,113		$	—		$	—		$	9,113

	Condensed Consolidating Statements of Cash Flows
	Three Months Ended March 31, 2018
	Parent			Guarantor			Eliminations			Consolidated
	(in thousands)
Cash flows from operating activities	$	149,009		$	56,140		$	—		$	205,149
Cash flows from investing activities:
Capital expenditures for development of crude oil and natural gas properties	(97,286		)	(99,631		)	—			(196,917		)
Capital expenditures for other properties and equipment	(701		)	(365		)	—			(1,066		)
Acquisition of crude oil and natural gas properties	(180,825		)	—			—			(180,825		)
Proceeds from sale of properties and equipment	20			—			—			20
Proceeds from divestiture	39,023			—			—			39,023
Restricted cash	1,249			—			—			1,249
Intercompany transfers	(43,891		)	—			43,891			—
Net cash from investing activities	(282,411		)	(99,996		)	43,891			(338,516		)
Cash flows from financing activities:
Proceeds from revolving credit facility	35,000			—			—			35,000
Repayment of revolving credit facility	(35,000		)	—			—			(35,000		)
Purchase of treasury stock	(2,255		)	—			—			(2,255		)
Other	(344		)	(35		)	—			(379		)
Intercompany transfers	—			43,891			(43,891		)	—
Net cash from financing activities	(2,599		)	43,856			(43,891		)	(2,634		)
Net change in cash, cash equivalents and restricted cash	(136,001		)	—			—			(136,001		)
Cash, cash equivalents and restricted cash, beginning of period	189,925			—			—			189,925
Cash, cash equivalents and restricted cash, end of period	$	53,924		$	—		$	—		$	53,924