Supplemental Information On Oil And Gas Exploration And Production Activities (Tables)

12 Months Ended

Dec. 31, 2014

Extractive Industries [Abstract]

Capitalized Costs Relating to Oil and Gas Producing Activities

Capitalized Costs Related to Oil and Gas Producing Activities

	2014			2013
	(In thousands)
Proven properties	$	2,457,616		$	1,526,588
Unproven properties	1,465,538			950,590
	3,923,154			2,477,178
Accumulated depreciation, depletion, amortization and impairment reserve	(1,044,273		)	(779,561		)
Net capitalized costs	$	2,878,881		$	1,697,617
Equity investment in Diamondback Energy, Inc.
Proven properties	$	—		$	92,074
Unproven properties	—			26,608
	—			118,682
Accumulated depreciation, depletion, amortization and impairment reserve	—			(15,180		)
Net capitalized costs	$	—		$	103,502
Equity investment in Grizzly Oil Sand ULC
Proven properties	$	96,859		$	—
Unproven properties	103,160			—
	200,019			—
Accumulated depreciation, depletion, amortization and impairment reserve	(1,248		)	—
Net capitalized costs	$	198,771		$	—

Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities

Costs Incurred in Oil and Gas Property Acquisition and Development Activities

	2014		2013		2012
	(In thousands)
Acquisition	$	440,288	$	338,153	$	513,904
Development of proved undeveloped properties	864,511		408,121		121,787
Exploratory	2,249		26,174		93,397
Recompletions	45,658		44,633		24,643
Capitalized asset retirement obligation	2,095		3,556		2,195
Total	$	1,354,801	$	820,637	$	755,926
Equity investment in Diamondback Energy, Inc.
Acquisition	$	—	$	44,534	$	49,895
Development of proved undeveloped properties	—		6,369		22,740
Exploratory	—		17,491		3,755
Capitalized asset retirement obligation	—		50		203
Total	$	—	$	68,444	$	76,593
Equity investment in Grizzly Oil Sands ULC
Acquisition	$	1,230	$	—	$	—
Development of proved undeveloped properties	7,107		—		—
Exploratory	—		—		—
Capitalized asset retirement obligation	1,055		—		—
Total	$	9,392	$	—	$	—

Results of Operations for Producing Activities

The results of operations exclude general office overhead and interest expense attributable to oil and gas production.

	2014			2013			2012
	(In thousands)
Revenues	$	670,762		$	262,225		$	248,601
Production costs	(140,664		)	(64,666		)	(53,708		)
Depletion	(263,946		)	(118,118		)	(90,230		)
	266,152			79,441			104,663
Income tax expense (benefit)
Current	—			—			730
Deferred	96,061			49,447			25,633
	96,061			49,447			26,363
Results of operations from producing activities	$	170,091		$	29,994		$	78,300
Depletion per Mcf of gas equivalent (Mcfe)	$	3.01		$	4.78		$	5.85
Results of Operations from equity method investment in Diamondback Energy, Inc.
Revenues	$	—		$	14,976		$	16,042
Production costs	—			(2,518		)	(4,474		)
Depletion	—			(4,754		)	(5,515		)
	—			7,704			6,053
Income tax expense	—			2,286			2,158
Results of operations from producing activities	$	—		$	5,418		$	3,895
Results of Operations from equity method investment in Grizzly Oil Sands ULC
Revenues	$	5,449		$	—		$	—
Production costs	(10,113		)	—			—
Depletion	(1,195		)	—			—
	(5,859		)	—			—
Income tax expense	—			—			—
Results of operations from producing activities	$	(5,859	)	$	—		$	—

Oil And Gas Reserves

These estimates are reviewed annually and revised, either upward or downward, as warranted by additional performance data.

	2014						2013						2012
	Oil		Gas		NGL		Oil		Gas		NGL		Oil		Gas		NGL
	(MBbls)		(MMcf)		(MBbls)		(MBbls)		(MMcf)		(MBbls)		(MBbls)		(MMcf)		(MBbls)
Proved Reserves
Beginning of the period	8,346		146,446		5,675		8,106		33,771		145		13,954		15,728		2,791
Purchases in oil and gas reserves in place	173		8,863		353		—		—		—		—		—		—
Extensions and discoveries	4,975		629,151		22,594		2,765		123,597		5,850		4,732		31,265		148
Sales of oil and gas reserves in place	—		—		—		—		—		—		(7,875	)	(11,757	)	(2,729	)
Revisions of prior reserve estimates	(1,313	)	(6,136	)	(304	)	(208	)	(2,031	)	—		(382	)	(357	)	—
Current production	(2,684	)	(59,318	)	(2,050	)	(2,317	)	(8,891	)	(320	)	(2,323	)	(1,108	)	(65	)
End of period	9,497		719,006		26,268		8,346		146,446		5,675		8,106		33,771		145
Proved developed reserves	5,719		345,166		12,379		5,609		94,552		3,527		5,175		18,482		44
Proved undeveloped reserves	3,778		373,840		13,889		2,737		51,894		2,148		2,931		15,289		101
Equity investment in Diamondback Energy, Inc.
Proved Reserves
Beginning of the period	—		—		—		5,606		7,398		1,766		3,874		4,398		1,080
Change in ownership interest in Diamondback	—		—		—		(3,720	)	(4,909	)	(1,171	)	—		—		—
Purchases in oil and gas reserves in place	—		—		—		528		752		120		1,543		2,292		540
Extensions and discoveries	—		—		—		1,227		1,741		331		665		804		186
Revisions of prior reserve estimates	—		—		—		(428	)	(417	)	(249	)	(314	)	82		(1	)
Current production	—		—		—		(146	)	(124	)	(26	)	(162	)	(178	)	(39	)
End of period	—		—		—		3,067		4,441		771		5,606		7,398		1,766
Proved developed reserves	—		—		—		1,425		2,263		358		1,539		2,753		641
Proved undeveloped reserves	—		—		—		1,642		2,178		413		4,068		4,645		1,124
Equity investment in Grizzly Oil Sands ULC
Beginning of the period	13,637		—		—		—		—		—		—		—		—
Purchases in oil and gas reserves in place	—		—		—		—		—		—		—		—		—
Extensions and discoveries	—		—		—		—		—		—		—		—		—
Revisions of prior reserve estimates	990		—		—		—		—		—		—		—		—
Current production	(69	)	—		—		—		—		—		—		—		—
End of period	14,558		—		—		—		—		—		—		—		—
Proved developed reserves	1,632		—		—		—		—		—		—		—		—
Proved undeveloped reserves	12,926		—		—		—		—		—		—		—		—

Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves (Unaudited)

Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves

	Year ended December 31,
	2014			2013			2012
	(In thousands)
Future cash flows	$	4,667,678		$	1,657,708		$	954,833
Future development and abandonment costs	(719,898		)	(272,500		)	(159,113		)
Future production costs	(880,427		)	(274,428		)	(147,024		)
Future production taxes	(71,229		)	(78,647		)	(89,175		)
Future income taxes	(693,154		)	(172,691		)	(114,867		)
Future net cash flows	2,302,970			859,442			444,654
10% discount to reflect timing of cash flows	(875,803		)	(280,976		)	(96,013		)
Standardized measure of discounted future net cash flows	$	1,427,167		$	578,466		$	348,641
Equity investment in Diamondback Energy, Inc. Standardized measure of discounted cash flows
Future cash flows	$	—		$	331,505		$	592,669
Future development and abandonment costs	—			(37,229		)	(115,869		)
Future production costs	—			(58,096		)	(165,553		)
Future production taxes	—			(22,925		)	(30,122		)
Future income taxes	—			(48,547		)	(71,669		)
Future net cash flows	—			164,708			209,456
10% discount to reflect timing of cash flows	—			(94,462		)	(130,871		)
Standardized measure of discounted future net cash flows	$	—		$	70,246		$	78,585
Equity investment in Grizzly Oil Sands ULC Standardized measure of discounted cash flows
Future cash flows	$	754,720		$	—		$	—
Future development and abandonment costs	(205,242		)	—			—
Future production costs	(291,988		)	—			—
Future production taxes	—			—			—
Future income taxes	(11,250		)	—			—
Future net cash flows	246,240			—			—
10% discount to reflect timing of cash flows	(152,494		)	—			—
Standardized measure of discounted future net cash flows	$	93,746		$	—		$	—

Changes In Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves

Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves

	Year ended December 31,
	2014			2013			2012
	(In thousands)
Sales and transfers of oil and gas produced, net of production costs	$	(530,098	)	$	(197,559	)	$	(194,893	)
Net changes in prices, production costs, and development costs	97,716			65,573			108,941
Acquisition of oil and gas reserves in place	14,266			—			—
Extensions and discoveries	790,533			130,826			151,654
Previously estimated development costs incurred during the period	68,227			43,478			10,211
Revisions of previous quantity estimates, less related production costs	(37,801		)	(3,591		)	(10,504		)
Sales of reserves in place	—			—			(214,867		)
Accretion of discount	57,847			34,864			37,668
Net changes in income taxes	(295,226		)	(30,239		)	25,585
Change in production rates and other	683,237			186,473			58,165
Total change in standardized measure of discounted future net cash flows	$	848,701		$	229,825		$	(28,040	)
Equity investment in Diamondback Energy, Inc. Changes in standardized measure of discounted cash flows
Change in ownership interest in Diamondback	$	—		$	(52,145	)	$	—
Sales and transfers of oil and gas produced, net of production costs	—			(12,524		)	(11,601		)
Net changes in prices, production costs, and development costs	—			3,312			(14,596		)
Acquisition of oil and gas reserves in place	—			21,968			23,090
Extensions and discoveries	—			39,776			16,969
Previously estimated development costs incurred during the period	—			5,517			19,014
Revisions of previous quantity estimates, less related production costs	—			(9,143		)	(4,897		)
Accretion of discount	—			4,175			7,803
Net changes in income taxes	—			(12,137		)	(26,866		)
Change in production rates and other	—			2,862			(8,358		)
Total change in standardized measure of discounted future net cash flows	$	—		$	(8,339	)	$	558
Equity investment in Grizzly Oil Sands ULC Changes in standardized measure of discounted cash flows
Sales and transfers of oil and gas produced, net of production costs	$	4,664		$	—		$	—
Net changes in prices, production costs, and development costs	(76,518		)	—			—
Acquisition of oil and gas reserves in place	—			—			—
Extensions and discoveries	7,107			—			—
Previously estimated development costs incurred during the period	—			—			—
Revisions of previous quantity estimates, less related production costs	10,659			—			—
Accretion of discount	14,946			—			—
Net changes in income taxes	9,162			—			—
Change in production rates and other	(25,738		)	—			—
Total change in standardized measure of discounted future net cash flows	$	(55,718	)	$	—		$	—