Long-Term Debt - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions |
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3 Months Ended |
9 Months Ended |
12 Months Ended |
Sep. 30, 2017 |
Jun. 30, 2017 |
Sep. 07, 2016 |
Sep. 30, 2016 |
Sep. 30, 2015 |
Sep. 30, 2016 |
Sep. 30, 2015 |
Dec. 31, 2015 |
Debt Instrument [Line Items] |
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Gain on exchange of debt |
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$ 123,960,000
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$ 123,960,000
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Basic and diluted earnings (loss) per common share |
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$ 0.48
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$ (6.29)
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$ (3.25)
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$ (13.08)
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First lien leverage ratio |
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10.00%
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Current ratio |
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235.00%
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Asset coverage ratio |
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125.00%
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Percentage of discount from proved reserves |
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10.00%
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Scenario Forecast |
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Debt Instrument [Line Items] |
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First lien leverage ratio |
200.00%
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Minimum |
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Debt Instrument [Line Items] |
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Current ratio |
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100.00%
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Maximum | Scenario Covenants |
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Debt Instrument [Line Items] |
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First lien leverage ratio |
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250.00%
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8.50% Unsecured Senior Notes, Due June 2019 |
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Debt Instrument [Line Items] |
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Debt instrument aggregate principle amount |
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$ 189,829,000
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$ 189,829,000
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$ 900,000,000
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Debt instrument maturity date |
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Jun. 15, 2019
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Jun. 15, 2019
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Debt instrument interest rate |
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8.50%
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8.50%
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8.50%
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8.50%
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Annual effective interest rate |
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8.40%
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8.40%
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Debt instrument payment terms |
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semi-annually in arrears on June 15 and December 15
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9.00%/10.75% Second Lien PIK Toggle Notes, Due May 2020 |
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Debt Instrument [Line Items] |
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Debt instrument aggregate principle amount |
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$ 159,763,000
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$ 159,763,000
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Debt instrument maturity date |
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May 15, 2020
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Debt instrument interest rate |
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9.00%
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9.00%
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9.00%
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Debt instrument payment terms |
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Cash interest accrues at 9.00% per annum and is payable on May 15 and November 15 of each year. The Second Lien PIK Toggle Notes contain payment-in-kind (“PIK”) interest provisions, where certain semi-annual interest is added to the principal amount instead of being paid in cash in the then current semi-annual period. We have the option for the first 18 months to pay all or a portion of interest in kind at a rate of 10.75% per annum, except that the initial interest payment on November 15, 2016 is to be paid solely in kind.
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Debt instrument, period in which interest can be paid-in-kind |
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18 months
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Debt instrument stated interest rate percentage for payment-in-kind |
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10.75%
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8.50%/10.00% Third Lien PIK Toggle Notes Due June 2021 |
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Debt Instrument [Line Items] |
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Debt instrument aggregate principle amount |
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$ 142,031,000
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$ 142,031,000
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Debt instrument maturity date |
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Jun. 15, 2021
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Debt instrument interest rate |
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8.50%
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8.50%
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8.50%
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Debt instrument payment terms |
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The maturity date will accelerate to February 28, 2019 if the remaining Unsecured Senior Notes have not been extended, renewed, refunded, defeased, discharged, replaced or refinanced by February 28, 2019. Cash interest accrues at 8.50% per annum and is payable on June 15 and December 15 of each year. The Third Lien PIK Toggle Notes contain PIK interest provisions, where certain semi-annual interest is added to the principal amount instead of being paid in cash in the then current semi-annual period. We have the option for the first 24 months to pay all or a portion of interest in kind at a rate of 10.00% per annum, except that the initial interest payment on December 15, 2016 is to be paid solely in kind.
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Debt instrument, period in which interest can be paid-in-kind |
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24 months
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Debt instrument stated interest rate percentage for payment-in-kind |
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10.00%
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11.00% 1.5 Lien Term Loan, Due November 2019 |
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Debt Instrument [Line Items] |
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Debt instrument aggregate principle amount |
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$ 75,000,000
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$ 75,000,000
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Debt instrument maturity date |
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Nov. 15, 2019
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Debt instrument interest rate |
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11.00%
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11.00%
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Revolving Bank Credit Facility Due November 2018 |
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Debt Instrument [Line Items] |
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Revolving bank credit facility borrowing base |
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$ 150,000,000
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$ 150,000,000
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Bank holiday expiration date |
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Apr. 01, 2017
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Unused portion of the borrowing base commitment fee |
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0.50%
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Borrowings and letters of credit, repayment terms |
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To the extent borrowings and letters of credit outstanding exceed the redetermined borrowing base; such excess is required to be repaid within 90 days in three equal monthly payments.
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Revolving bank credit facility maximum lender commitment |
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150,000,000
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$ 150,000,000
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Credit agreement expiration date |
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Nov. 08, 2018
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Minimum liquidity requirement amount |
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$ 15,000,000
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Revolving bank credit facility interest rate description |
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Borrowings under the revolving bank credit facility bear interest at the applicable London Interbank Offered Rate (“LIBOR”) plus a margin that varies from 3.00% to 4.00% depending on the level of total borrowings under the Credit Agreement, or an alternative base rate equal to the greater of (a) Prime Rate, (b) Federal Funds Rate plus 0.50%, and (c) LIBOR plus 1.00%, plus applicable margin ranging from 2.00% to 3.00%
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Unamortized costs related to Credit Agreement |
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$ 1,400,000
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Letters of credit outstanding |
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$ 900,000
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$ 900,000
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$ 900,000
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Annual effective interest rate |
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5.60%
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5.60%
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Remaining availability |
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$ 149,100,000
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$ 149,100,000
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Revolving Bank Credit Facility Due November 2018 | London Interbank Offered Rate (LIBOR) |
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Debt Instrument [Line Items] |
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Debt instrument, basis spread on variable rate |
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1.00%
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Revolving Bank Credit Facility Due November 2018 | Federal Funds Effective Swap Rate |
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Debt Instrument [Line Items] |
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Debt instrument, basis spread on variable rate |
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0.50%
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Revolving Bank Credit Facility Due November 2018 | Scenario Covenants |
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Debt Instrument [Line Items] |
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First lien leverage ratio |
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250.00%
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Maximum unrestricted cash balance if revolver balance is above $5 million |
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35,000,000
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$ 35,000,000
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Revolving Bank Credit Facility Due November 2018 | Scenario Forecast |
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Debt Instrument [Line Items] |
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First lien leverage ratio |
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200.00%
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Revolving Bank Credit Facility Due November 2018 | Minimum |
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Debt Instrument [Line Items] |
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Outstanding balances on the revolving bank credit facility (including letters of credit) |
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5,000,000
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$ 5,000,000
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Revolving Bank Credit Facility Due November 2018 | Minimum | Eurodollar |
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Debt Instrument [Line Items] |
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Debt instrument, basis spread on variable rate |
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3.00%
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Revolving Bank Credit Facility Due November 2018 | Minimum | London Interbank Offered Rate (LIBOR) |
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Debt Instrument [Line Items] |
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Debt instrument, basis spread on variable rate |
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3.00%
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Revolving Bank Credit Facility Due November 2018 | Minimum | London Interbank Offered Rate Additional Applicable Margin |
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Debt Instrument [Line Items] |
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Debt instrument, basis spread on variable rate |
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2.00%
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Revolving Bank Credit Facility Due November 2018 | Maximum | Eurodollar |
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Debt Instrument [Line Items] |
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Debt instrument, basis spread on variable rate |
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4.00%
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Revolving Bank Credit Facility Due November 2018 | Maximum | London Interbank Offered Rate (LIBOR) |
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Debt Instrument [Line Items] |
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Debt instrument, basis spread on variable rate |
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4.00%
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Revolving Bank Credit Facility Due November 2018 | Maximum | London Interbank Offered Rate Additional Applicable Margin |
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Debt Instrument [Line Items] |
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Debt instrument, basis spread on variable rate |
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3.00%
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11.00% 1.5 Lien Term Loan, Due November 2019 |
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Debt Instrument [Line Items] |
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Debt instrument aggregate principle amount |
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$ 75,000,000
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Debt instrument maturity date |
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Nov. 15, 2019
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Debt instrument interest rate |
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11.00%
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Debt instrument, maturity date, description |
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1.5 Lien Term Loan on September 7, 2016 with a maturity date of November 15, 2019. The maturity date will accelerate to February 28, 2019 if the remaining Unsecured Senior Notes have not been extended, renewed, refunded, defeased, discharged, replaced or refinanced by February 28, 2019.
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Debt instrument payment terms |
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Interest accrues at 11.00% per annum and is payable quarterly in cash.
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Debt instrument frequency of interest payment in cash |
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Quarterly
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9.00 % Second Lien Term Loan, Due May 2020 |
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Debt Instrument [Line Items] |
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Debt instrument aggregate principle amount |
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$ 300,000,000
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$ 300,000,000
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$ 300,000,000
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Debt instrument maturity date |
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May 15, 2020
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May 15, 2020
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Debt instrument interest rate |
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9.00%
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9.00%
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9.00%
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Annual effective interest rate |
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9.70%
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9.70%
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Debt instrument payment terms |
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Interest on the Second Lien Term Loan is payable in arrears semi-annually on May 15 and November 15
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Exchange Transaction |
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Debt Instrument [Line Items] |
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Interest expense recorded for new debt |
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$ 0
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$ 0
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Gain on exchange of debt |
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$ 124,000,000
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Deal transaction costs |
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$ 18,900,000
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Common stock issued value per share |
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$ 1.76
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Basic and diluted earnings (loss) per common share |
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$ 1.33
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$ 1.52
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Exchange Transaction | General and Administrative Expenses |
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Debt Instrument [Line Items] |
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General and administrative costs reclassified to gain on debt exchange |
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$ 2,800,000
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Exchange Transaction | 8.50% Unsecured Senior Notes, Due June 2019 |
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Debt Instrument [Line Items] |
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Debt instrument aggregate principle amount |
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$ 710,200,000
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Percentage of unsecured senior notes exchanged |
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79.00%
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Debt instrument maturity date |
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Jun. 15, 2019
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Exchange Transaction | 8.50% Unsecured Senior Notes, Due June 2019 | Common Stock |
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Debt Instrument [Line Items] |
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Debt conversion, common stock shares issued |
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60.4
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Exchange Transaction | 9.00%/10.75% Second Lien PIK Toggle Notes, Due May 2020 |
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Debt Instrument [Line Items] |
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Debt instrument aggregate principle amount |
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$ 159,800,000
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Exchange Transaction | 9.00%/10.75% Second Lien PIK Toggle Notes, Due May 2020 | Minimum |
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Debt Instrument [Line Items] |
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Debt instrument interest rate |
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9.00%
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Exchange Transaction | 9.00%/10.75% Second Lien PIK Toggle Notes, Due May 2020 | Maximum |
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Debt Instrument [Line Items] |
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Debt instrument interest rate |
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10.75%
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Exchange Transaction | 8.50%/10.00% Third Lien PIK Toggle Notes Due June 2021 |
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Debt Instrument [Line Items] |
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Debt instrument aggregate principle amount |
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$ 142,000,000
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Debt instrument maturity date |
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Jun. 15, 2021
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Exchange Transaction | 8.50%/10.00% Third Lien PIK Toggle Notes Due June 2021 | Minimum |
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Debt Instrument [Line Items] |
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Debt instrument interest rate |
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8.50%
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Exchange Transaction | 8.50%/10.00% Third Lien PIK Toggle Notes Due June 2021 | Maximum |
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Debt Instrument [Line Items] |
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Debt instrument interest rate |
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10.00%
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Exchange Transaction | 11.00% 1.5 Lien Term Loan, Due November 2019 |
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Debt Instrument [Line Items] |
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Debt instrument aggregate principle amount |
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$ 75,000,000
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Debt instrument maturity date |
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Nov. 15, 2019
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Debt instrument interest rate |
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11.00%
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