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Reorganization Under Chapter 11, Fresh-Start Reporting and the Effects of the Plan (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Aug. 31, 2012
Preconfirmation, Current assets      
Cash and cash equivalents     $ 1,954
Trust assets     0
Restricted cash     0
Trade accounts receivable, net     3,708
Prepaid assets     4,777
Prepaid reorganization costs     1,326
Total current assets     11,765
Preconfirmation, Oil and gas properties      
Unproved     84
Proved     759,755
Land     4,000
Other     73,021
Total property and equipment     836,860
Less accumulated depreciation and depletion     (642,172)
Property and equipment, net     194,688
Preconfirmation, Long-term assets:      
Investments in unconsolidated affiliates     3,629
Other long-term assets     307
Total long-term assets     3,936
Total assets     210,389
Preconfirmation, Liabilities not subject to compromise      
Debtor in possession financing     56,535
Accounts payable and other accrued liabilities     4,897
Other accrued liabilities     9,224
Accrued reorganization and trustee expense     70,656
Preconfirmation, Liabilities subject to compromise      
3 3/4% Senior notes     115,000
7% Senior convertible notes     150,000
Accounts payable and other accrued liabilities     17,203
Total current liabilities     352,859
Preconfirmation, Liabilities not subject to compromise      
Long - term debt     0
Derivative liabilities     0
Asset retirement obligations 3,172 512 476
Total liabilities     357,273
Preconfirmation, Stockholders’ equity      
Common stock     288
Additional paid-in capital     1,643,285
Retained earnings (accumulated deficit)     (1,790,457)
Total stockholders' equity (deficit)     (146,884)
Total liabilities and equity (deficit)     210,389
Fresh Start Reporting Adjustments, Current assets      
Trade accounts receivable, net     (1,981) [1]
Prepaid assets     (4,777) [1]
Prepaid reorganization costs     (1,326) [1]
Fresh Start Reporting Adjustments, Oil and gas properties      
Unproved     (84) [1]
Proved     (14,776) [1]
Other     (21,289) [1]
Less accumulated depreciation and depletion     34,569 [1]
Fresh Start Reporting Adjustments, Long-term assets:      
Investments in unconsolidated affiliates     (3,629) [1]
Other long-term assets     (253) [1]
Fresh Start Reporting Adjustments, Liabilities subject to compromise      
Accounts payable and other accrued liabilities     (1,981) [1]
Fresh Start Reporting Adjustments, Stockholders' equity      
Common stock     (288) [2]
Additional paid-in capital     288 [2]
Retained earnings (accumulated deficit)     (14,765) [1]
Postconfirmation, Current assets      
Cash and cash equivalents     4,882
Trust assets     3,446
Restricted cash     20,359
Trade accounts receivable, net     0
Prepaid assets     0
Prepaid reorganization costs     0
Total current assets     28,687
Postconfirmation, Oil and gas properties      
Unproved     0
Proved     4,587
Land     0
Other     4,239
Total property and equipment     8,826
Less accumulated depreciation and depletion     0
Property and equipment, net     8,826
Postconfirmation, Long-term assets:      
Investments in unconsolidated affiliates     105,344
Other long-term assets     54
Total long-term assets     105,398
Total assets     142,911
Postconfirmation, Liabilities not subject to compromise      
Debtor in possession financing     0
Accounts payable and other accrued liabilities     4,897
Other accrued liabilities     2,640
Accrued reorganization and trustee expense     7,537
Postconfirmation, Liabilities subject to compromise      
3 3/4% Senior notes     0
7% Senior convertible notes     0
Accounts payable and other accrued liabilities     12,336
Total current liabilities     19,873
Postconfirmation, Liabilities not subject to compromise      
Long - term debt     6,335
Derivative liabilities     6,665
Asset retirement obligations     476
Total liabilities     33,349
Postconfirmation, Stockholders' equity      
Common stock     1,477
Additional paid-in capital     108,085
Retained earnings (accumulated deficit)     0
Total stockholders' equity (deficit)     109,562
Total liabilities and equity (deficit)     142,911
Reflects Adjustments To Remaining Assets [Member]
     
Fresh Start Reporting Adjustments, Liabilities subject to compromise      
Accounts payable and other accrued liabilities     3,200 [1]
Reflects Elimination of Predecessor Accumulated Deficit [Member]
     
Fresh Start Reporting Adjustments, Stockholders' equity      
Additional paid-in capital     (1,636,890) [3]
Retained earnings (accumulated deficit)     1,636,890 [3]
Plan of Reorganization Adjustments [Member]
     
Preconfirmation, Current assets      
Cash and cash equivalents     74,167 [4]
Trust assets     3,446 [5]
Restricted cash     20,359 [6]
Trade accounts receivable, net     (1,727) [4]
Preconfirmation, Oil and gas properties      
Proved     (740,392) [4]
Land     (4,000) [4]
Other     (47,493) [4]
Less accumulated depreciation and depletion     607,603 [4]
Preconfirmation, Long-term assets:      
Investments in unconsolidated affiliates     105,344 [4]
Preconfirmation, Liabilities not subject to compromise      
Debtor in possession financing     (56,535) [7]
Other accrued liabilities     (2,685) [8]
Preconfirmation, Liabilities subject to compromise      
3 3/4% Senior notes     (115,000) [8]
7% Senior convertible notes     (150,000) [8]
Accounts payable and other accrued liabilities     (2,560) [4]
Preconfirmation, Liabilities not subject to compromise      
Long - term debt     6,335 [7]
Derivative liabilities     6,665 [7]
Asset retirement obligations     (3,938) [4]
Preconfirmation, Stockholders’ equity      
Common stock     1,457 [8]
Additional paid-in capital     100,084 [8]
Retained earnings (accumulated deficit)     166,144 [8]
Plan of Reorganization Adjustments [Member] | Reflects The Successor Drawing [Member]
     
Preconfirmation, Current assets      
Cash and cash equivalents     (45,035) [7]
Preconfirmation, Liabilities not subject to compromise      
Other accrued liabilities     (1,500) [7]
Plan of Reorganization Adjustments [Member] | Reflects Settlement of Other Claims [Member]
     
Preconfirmation, Current assets      
Cash and cash equivalents     (24,204) [6]
Preconfirmation, Liabilities not subject to compromise      
Other accrued liabilities     (3,845) [6]
Preconfirmation, Liabilities subject to compromise      
Accounts payable and other accrued liabilities     (3,526) [6]
Preconfirmation, Stockholders’ equity      
Common stock     20 [6]
Additional paid-in capital     1,318 [6]
Retained earnings (accumulated deficit)     2,188 [6]
Plan of Reorganization Adjustments [Member] | Reflects Funding of The Recovery Trusts [Member]
     
Preconfirmation, Current assets      
Cash and cash equivalents     (2,000) [5]
Preconfirmation, Liabilities not subject to compromise      
Other accrued liabilities     $ 1,446 [5]
[1] Reflects adjustments to remaining assets due to fresh start accounting. On the Emergence Date, we adjusted the carrying value of our remaining assets to their estimated fair values. As a result of these adjustments, we recorded a loss for changes in asset fair values due to fresh start accounting adjustments within Reorganization items of approximately $14.8 million on the Predecessor’s consolidated statement of operations in the period from January 1, 2012 through August 31, 2012.
[2] Reflects cancellation of Predecessor common stock.
[3] Reflects elimination of Predecessor accumulated deficit.
[4] Reflects contribution of certain of our oil and gas assets and related prepaid expenses and asset retirement obligations to Piceance Energy in exchange for cash and a 33.34% interest in Piceance Energy.
[5] Reflects funding of the Recovery Trusts (see Note 9).
[6] Reflects settlement of other claims with common stock of Successor and cash. On the Emergence Date, we issued 191,973 shares of our common stock to various creditors. We estimated the fair value of our common stock to be $7.0 on the Emergence Date. Accordingly, we recorded a gain on settlement of liabilities within Reorganization items of approximately $2.2 million on the Predecessor’s consolidated statement of operations in the period from January 1, 2012 through August 31, 2012.
[7] Reflects the Successor drawing $13 million under the Loan Agreement (see Note 6) to repay amounts outstanding under the DIP Credit Facility (see Note 6) with those proceeds and cash from contribution of assets to Piceance Energy.
[8] Reflects extinguishment of secured debt in exchange for common stock of the Successor. On the Emergence Date, we issued 14,573,608 shares of our common stock and warrants to acquire 959,213 shares of our common stock to the holders of our secured debt or their affiliates. We estimated the fair value of our common stock to be $7.0 on the Emergence Date. Accordingly, we recorded a gain on the settlement of secured debt within Reorganization items of approximately $166.1 million on the Predecessor’s consolidated statement of operations in the period from January 1, 2012 through August 31, 2012.