Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations

v3.3.1.900
Consolidated Statements Of Operations - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income Statement [Abstract]                      
Revenues $ 104,064,000 $ 126,228,000 $ 149,066,000 $ 127,907,000 $ 196,677,000 $ 234,521,000 $ 262,994,000 $ 254,516,000 $ 507,265,000 $ 948,708,000 $ 984,088,000
Operating costs and expenses:                      
Lease operating expenses                 192,765,000 264,751,000 270,839,000
Production taxes                 3,002,000 7,932,000 7,135,000
Gathering and transportation                 17,157,000 19,821,000 17,510,000
Depreciation, depletion and amortization                 373,368,000 490,469,000 430,611,000
Asset retirement obligations accretion                 20,703,000 20,633,000 20,918,000
Ceiling test write-down of oil and natural gas properties 32,400,000 441,600,000 252,800,000 260,400,000         987,238,000 0 0
General and administrative expenses                 73,110,000 86,999,000 81,874,000
Derivative (gain) loss                 (14,375,000) (3,965,000) 8,470,000
Total costs and expenses                 1,652,968,000 886,640,000 837,357,000
Operating income (loss) (60,816,000) [1] (468,573,000) [1] (278,806,000) [1] (337,508,000) [1] (30,543,000) 20,983,000 34,403,000 37,225,000 (1,145,703,000) 62,068,000 146,731,000
Interest expense:                      
Incurred                 104,592,000 86,922,000 85,639,000
Capitalized                 (7,256,000) (8,526,000) (10,058,000)
Other (income) expense, net                 4,663,000 (208,000) (8,946,000)
Income (loss) before income tax expense (benefit)                 (1,247,702,000) (16,120,000) 80,096,000
Income tax expense (benefit)                 (202,984,000) (4,459,000) 28,774,000
Net income (loss) $ (51,606,000) [1] $ (477,568,000) [1] $ (260,449,000) [1] $ (255,095,000) [1] $ (33,371,000) $ 684,000 $ 9,837,000 $ 11,189,000 $ (1,044,718,000) $ (11,661,000) $ 51,322,000
Basic and diluted earnings (loss) per common share $ (0.68) [1],[2] $ (6.29) [1],[2] $ (3.43) [1],[2] $ (3.36) [1],[2] $ (0.44) [2] $ 0.01 [2] $ 0.13 [2] $ 0.15 [2] $ (13.76) $ (0.16) $ 0.68
[1] During 2015, we recorded in first, second, third and fourth quarter ceiling test write-downs of oil and natural gas properties of $260.4 million, $252.8 million, $441.6 million and $32.4 million, respectively. See Note 1 for additional information.
[2] The sum of the individual quarterly earnings (loss) per share may not agree with the year loss per share because each quarterly calculation is based on the income for that quarter and the weighted average number of shares outstanding during that quarter.