2018 Q4 Form 10-K Financial Statement

#000162828019002242 Filed on February 28, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 2017 Q4
Revenue $416.0M $1.552B $397.8M
YoY Change 4.55% 17.53% 527.36%
Cost Of Revenue $37.12M $486.8M $26.90M
YoY Change 37.98% 380.26% 12.55%
Gross Profit $378.8M $1.065B $371.0M
YoY Change 2.11% -12.64% 839.24%
Gross Profit Margin 91.08% 68.63% 93.25%
Selling, General & Admin $82.68M $533.9M $87.80M
YoY Change -5.83% 81.29% 62.59%
% of Gross Profit 21.83% 50.14% 23.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $133.8M $486.7M $109.7M
YoY Change 21.98% 33.47% 75.24%
% of Gross Profit 35.32% 45.7% 29.57%
Operating Expenses $217.6M $962.7M $197.9M
YoY Change 9.93% 24.72% 69.58%
Operating Profit $156.5M $399.0M $173.0M
YoY Change -9.56% -28.22% -190.61%
Interest Expense -$26.22M $141.9M -$17.60M
YoY Change 48.95% 22.75% -33.83%
% of Operating Profit -16.75% 35.57% -10.17%
Other Income/Expense, Net -$1.057M $31.53M $200.0K
YoY Change -628.5% -126.54% -88.89%
Pretax Income $134.0M $430.5M $155.6M
YoY Change -13.88% -1.48% -164.97%
Income Tax $0.00 -$69.00K -$954.0K
% Of Pretax Income 0.0% -0.02% -0.61%
Net Earnings $134.0M $430.6M $156.5M
YoY Change -14.39% -1.06% -165.12%
Net Earnings / Revenue 32.22% 27.75% 39.34%
Basic Earnings Per Share $0.78 $2.46 $0.85
Diluted Earnings Per Share $0.78 $2.45 $0.85
COMMON SHARES
Basic Shares Outstanding 173.3M shares 174.7M shares 183.1M shares
Diluted Shares Outstanding 175.4M shares

Balance Sheet

Concept 2018 Q4 2018 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $52.30M $52.30M $99.60M
YoY Change -47.49% -47.47% -92.19%
Cash & Equivalents $52.30M $52.30M $99.56M
Short-Term Investments
Other Short-Term Assets $31.37M $31.37M $83.70M
YoY Change -62.52% -62.55% -56.32%
Inventory
Prepaid Expenses
Receivables $210.2M $232.7M $146.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $316.4M $316.4M $365.5M
YoY Change -13.45% -13.45% -77.22%
LONG-TERM ASSETS
Property, Plant & Equipment $5.479B $5.479B $5.102B
YoY Change 7.39% 7.39% 117.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $236.1M $236.1M $302.1M
YoY Change -21.84% -21.84% 23.86%
Other Assets $13.80M $19.15M $19.81M
YoY Change -30.34% -49.53% 121.83%
Total Long-Term Assets $5.735B $5.735B $5.442B
YoY Change 5.37% 5.37% 107.81%
TOTAL ASSETS
Total Short-Term Assets $316.4M $316.4M $365.5M
Total Long-Term Assets $5.735B $5.735B $5.442B
Total Assets $6.051B $6.051B $5.808B
YoY Change 4.19% 4.19% 37.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $518.4M $518.4M $553.6M
YoY Change -6.36% -6.36% 108.83%
Accrued Expenses $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $651.0K $651.0K $622.0K
YoY Change 4.66% 4.66% 125.36%
Total Short-Term Liabilities $539.4M $539.4M $586.9M
YoY Change -8.09% -8.09% 52.51%
LONG-TERM LIABILITIES
Long-Term Debt $2.087B $2.087B $2.038B
YoY Change 2.38% 2.38% 27.91%
Other Long-Term Liabilities $0.00 $93.94M $2.963M
YoY Change -100.0% 16.08%
Total Long-Term Liabilities $2.087B $2.181B $2.041B
YoY Change 2.23% 2.9% 28.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $539.4M $539.4M $586.9M
Total Long-Term Liabilities $2.087B $2.181B $2.041B
Total Liabilities $2.723B $2.723B $2.706B
YoY Change 0.63% 0.63% 32.7%
SHAREHOLDERS EQUITY
Retained Earnings -$845.4M -$1.276B
YoY Change -33.74% -25.43%
Common Stock $1.630M $1.831M
YoY Change -10.98% 15.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.328B $3.328B $3.102B
YoY Change
Total Liabilities & Shareholders Equity $6.051B $6.051B $5.808B
YoY Change 4.19% 4.19% 37.52%

Cashflow Statement

Concept 2018 Q4 2018 2017 Q4
OPERATING ACTIVITIES
Net Income $134.0M $430.6M $156.5M
YoY Change -14.39% -1.06% -165.12%
Depreciation, Depletion And Amortization $133.8M $486.7M $109.7M
YoY Change 21.98% 33.47% 75.24%
Cash From Operating Activities $155.5M $786.3M $188.2M
YoY Change -17.39% 15.65% 103.46%
INVESTING ACTIVITIES
Capital Expenditures -$122.7M -$907.0M -$287.2M
YoY Change -57.27% -62.72% -3.23%
Acquisitions
YoY Change
Other Investing Activities $427.0K $9.392M -$5.500M
YoY Change -107.76% -122.65% 57.14%
Cash From Investing Activities -$122.3M -$676.9M -$292.7M
YoY Change -58.22% -72.64% -2.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $200.3M
YoY Change 3633.24%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -105.5M -$156.7M 78.90M
YoY Change -233.66% -136.18% -93.95%
NET CHANGE
Cash From Operating Activities 155.5M $786.3M 188.2M
Cash From Investing Activities -122.3M -$676.9M -292.7M
Cash From Financing Activities -105.5M -$156.7M 78.90M
Net Change In Cash -72.27M -$47.26M -25.60M
YoY Change 182.32% -96.53% -102.33%
FREE CASH FLOW
Cash From Operating Activities $155.5M $786.3M $188.2M
Capital Expenditures -$122.7M -$907.0M -$287.2M
Free Cash Flow $278.2M $1.693B $475.4M
YoY Change -41.48% -45.6% 22.12%

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0 USD
CY2017 srt Increase Due To Purchases Of Minerals In Place
IncreaseDueToPurchasesOfMineralsInPlace
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CY2018 srt Increase Due To Purchases Of Minerals In Place
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0 USD
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176218000 USD
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390673000 USD
CY2018 srt Previously Estimated Development Costs Incurred
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402156000 USD
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711.2 Bcfe
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CY2017 srt Revisions Of Previous Quantity Estimates
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155200000 USD
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CY2017 srt Sales And Transfers Of Oil And Gas Produced Net Of Production Costs
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1063215000 USD
CY2016 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Period Increase Decrease
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CY2017 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Period Increase Decrease
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1955524000 USD
CY2018 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Period Increase Decrease
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339161000 USD
CY2016 srt Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
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76433000 USD
CY2017 srt Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
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68804000 USD
CY2018 srt Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
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264356000 USD
CY2016Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
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688040000 USD
CY2017Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
StandardizedMeasureOfDiscountedFutureNetCashFlowsRelatingToProvedOilAndGasReserves
2643564000 USD
CY2018Q4 srt Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves
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2982725000 USD
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CY2017 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2018 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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11332000 USD
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CY2018 us-gaap Allocated Share Based Compensation Expense
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0 USD
CY2018 us-gaap Amortization Of Debt Discount Premium
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0 USD
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CY2017 us-gaap Amortization Of Financing Costs
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CY2018 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2017 us-gaap Asset Retirement Obligation Revision Of Estimate
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4613293000 USD
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2912974000 USD
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2900000000 USD
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2900000000 USD
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2912974000 USD
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1347901000 USD
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0 USD
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21840000 USD
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369000 USD
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369000 USD
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15897000 USD
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Asset Retirement Obligations
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16923000 USD
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DeferredTaxAssetsValuationAllowance
298830000 USD
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
212000000 USD
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
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211987000 USD
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0 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Derivatives
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11009000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Derivatives
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2000 USD
CY2016 us-gaap Defined Contribution Plan Cost Recognized
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1700000 USD
CY2017 us-gaap Defined Contribution Plan Cost Recognized
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3000000 USD
CY2018 us-gaap Defined Contribution Plan Cost Recognized
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2600000 USD
CY2018 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
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1
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245974000 USD
CY2017 us-gaap Depreciation Depletion And Amortization
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364629000 USD
CY2018 us-gaap Depreciation Depletion And Amortization
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486664000 USD
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65333000 USD
CY2018Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
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2063000 USD
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22199000 USD
CY2018Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
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19289000 USD
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78847000 USD
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21352000 USD
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8685000 USD
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0 USD
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87532000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Asset
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21352000 USD
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35523000 USD
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34393000 USD
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32534000 USD
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20401000 USD
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2989000 USD
CY2018Q4 us-gaap Derivative Liabilities Noncurrent
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13992000 USD
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13324000 USD
CY2018Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
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15104000 USD
CY2017Q4 us-gaap Derivative Liability Not Offset Policy Election Deduction
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22199000 USD
CY2018Q4 us-gaap Derivative Liability Not Offset Policy Election Deduction
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19289000 USD
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5789000 USD
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4536000 USD
CY2017 us-gaap Development Costs
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869000 USD
CY2018 us-gaap Development Costs
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548000 USD
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11742000 USD
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0 USD
CY2018Q4 us-gaap Due From Affiliate Current
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0 USD
CY2017Q4 us-gaap Due To Affiliate Current
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0 USD
CY2018Q4 us-gaap Due To Affiliate Current
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0 USD
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-7.97
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0.91
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0.58
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0.10
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0.85
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2.42
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0.50
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0.64
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0.55
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0.78
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2.46
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-7.97
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0.91
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0.58
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0.10
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0.85
CY2017 us-gaap Earnings Per Share Diluted
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2.41
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0.50
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0.64
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0.55
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0.78
CY2018 us-gaap Earnings Per Share Diluted
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2.45
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13900000 USD
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P1Y7M6D
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0 USD
CY2017 us-gaap Equity Method Investment Dividends Or Distributions
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0 USD
CY2018 us-gaap Equity Method Investment Dividends Or Distributions
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3206000 USD
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3391000 USD
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12523000 USD
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124768000 USD
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415032000 USD
CY2018Q4 us-gaap Equity Method Investment Summarized Financial Information Current Assets
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471733000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Current Liabilities
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261086000 USD
CY2018Q4 us-gaap Equity Method Investment Summarized Financial Information Current Liabilities
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239975000 USD
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-65070000 USD
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-37102000 USD
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253451000 USD
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1542090000 USD
CY2018Q4 us-gaap Equity Method Investment Summarized Financial Information Noncurrent Assets
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1302488000 USD
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148839000 USD
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94575000 USD
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287733000 USD
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755374000 USD
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1729778000 USD
CY2017Q4 us-gaap Equity Method Investments
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302112000 USD
CY2018Q4 us-gaap Equity Method Investments
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236121000 USD
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0 USD
CY2016 us-gaap Exploration Costs
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0 USD
CY2017 us-gaap Exploration Costs
ExplorationCosts
0 USD
CY2018 us-gaap Exploration Costs
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9027000 USD
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9027000 USD
CY2017Q4 us-gaap Furniture And Fixtures Gross
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37369000 USD
CY2018Q4 us-gaap Furniture And Fixtures Gross
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-323303000 USD
CY2017 us-gaap Gain Loss On Cash Flow Hedge Ineffectiveness Net
GainLossOnCashFlowHedgeIneffectivenessNet
188802000 USD
CY2018 us-gaap Gain Loss On Cash Flow Hedge Ineffectiveness Net
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-65051000 USD
CY2016 us-gaap Gain Loss On Derivative Instruments Net Pretax
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-174506000 USD
CY2017 us-gaap Gain Loss On Derivative Instruments Net Pretax
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213679000 USD
CY2018 us-gaap Gain Loss On Derivative Instruments Net Pretax
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-123479000 USD
CY2016 us-gaap Gain Loss On Fair Value Hedge Ineffectiveness Net
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-174506000 USD
CY2017 us-gaap Gain Loss On Fair Value Hedge Ineffectiveness Net
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213679000 USD
CY2018 us-gaap Gain Loss On Fair Value Hedge Ineffectiveness Net
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-123479000 USD
CY2016 us-gaap Gains Losses On Extinguishment Of Debt
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-23776000 USD
CY2017 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2016 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
43409000 USD
CY2017 us-gaap General And Administrative Expense
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52938000 USD
CY2018 us-gaap General And Administrative Expense
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56633000 USD
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715500000 USD
CY2016 us-gaap Impairment Of Oil And Gas Properties
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715495000 USD
CY2017 us-gaap Impairment Of Oil And Gas Properties
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0 USD
CY2018 us-gaap Impairment Of Oil And Gas Properties
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0 USD
CY2018 us-gaap Impairment Of Oil And Gas Properties
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0 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-982622000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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436961000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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430491000 USD
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IncomeLossFromEquityMethodInvestments
-37376000 USD
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IncomeLossFromEquityMethodInvestments
-17780000 USD
CY2018 us-gaap Income Loss From Equity Method Investments
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49904000 USD
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-37788000 USD
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-18513000 USD
CY2018 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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49625000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2913000 USD
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2763000 USD
CY2017Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-954000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1809000 USD
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-69000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2018Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-69000 USD
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343944000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-158704000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-91039000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
190034000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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0 USD
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-343918000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
152936000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
90403000 USD
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IncomeTaxReconciliationOtherAdjustments
4293000 USD
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
5731000 USD
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1078000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-5883000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2299000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-511000 USD
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-19770000 USD
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-1105000 USD
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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43763000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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106375000 USD
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-24015000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
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76269000 USD
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35879000 USD
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63427000 USD
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0 USD
CY2017 us-gaap Increase Decrease In Accounts Receivable Related Parties
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-16000 USD
CY2016 us-gaap Increase Decrease In Other Operating Assets
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0 USD
CY2017 us-gaap Increase Decrease In Other Operating Assets
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7866000 USD
CY2018 us-gaap Increase Decrease In Other Operating Assets
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-4066000 USD
CY2016 us-gaap Increase Decrease In Prepaid Expense
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3734000 USD
CY2017 us-gaap Increase Decrease In Prepaid Expense
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1777000 USD
CY2018 us-gaap Increase Decrease In Prepaid Expense
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5695000 USD
CY2016 us-gaap Increase Decrease Of Restricted Investments
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-8000 USD
CY2017 us-gaap Increase Decrease Of Restricted Investments
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-8000 USD
CY2018 us-gaap Increase Decrease Of Restricted Investments
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0 USD
CY2016 us-gaap Insurance Recoveries
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5718000 USD
CY2016 us-gaap Insurance Recoveries
InsuranceRecoveries
5700000 USD
CY2017 us-gaap Insurance Recoveries
InsuranceRecoveries
0 USD
CY2017 us-gaap Insurance Recoveries
InsuranceRecoveries
0 USD
CY2018 us-gaap Insurance Recoveries
InsuranceRecoveries
231000 USD
CY2018 us-gaap Insurance Recoveries
InsuranceRecoveries
200000 USD
CY2016 us-gaap Interest Costs Capitalized
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9148000 USD
CY2017 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
9470000 USD
CY2018 us-gaap Interest Costs Capitalized
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4470000 USD
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InterestExpense
63530000 USD
CY2017 us-gaap Interest Expense
InterestExpense
108198000 USD
CY2018 us-gaap Interest Expense
InterestExpense
135273000 USD
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68966000 USD
CY2017 us-gaap Interest Paid Net
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101958000 USD
CY2018 us-gaap Interest Paid Net
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126342000 USD
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8227000 USD
CY2018Q4 us-gaap Inventory Noncurrent
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4754000 USD
CY2016 us-gaap Investment Income Interest
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1230000 USD
CY2017 us-gaap Investment Income Interest
InvestmentIncomeInterest
1009000 USD
CY2018 us-gaap Investment Income Interest
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314000 USD
CY2017Q4 us-gaap Land
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4820000 USD
CY2018Q4 us-gaap Land
Land
5521000 USD
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2706138000 USD
CY2018Q4 us-gaap Liabilities
Liabilities
2723268000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
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5807752000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
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6051036000 USD
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586885000 USD
CY2018Q4 us-gaap Liabilities Current
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539432000 USD
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0 USD
CY2017 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
0 USD
CY2018 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
1075000 USD
CY2018Q4 us-gaap Long Term Debt
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2118149000 USD
CY2017Q4 us-gaap Long Term Debt Current
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622000 USD
CY2018Q4 us-gaap Long Term Debt Current
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651000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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1719792000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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651000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
350724000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
692000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
45661000 USD
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
629000 USD
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2038321000 USD
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2086765000 USD
us-gaap Loss Contingency New Claims Filed Number
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2 claim
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
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1730640000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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432961000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
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-156657000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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-720582000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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-2474168000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-643091000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
337843000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
679889000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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752488000 USD
CY2016 us-gaap Net Income Loss
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CY2017Q1 us-gaap Net Income Loss
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154455000 USD
CY2017Q2 us-gaap Net Income Loss
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105936000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
18235000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
156526000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
435152000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
90090000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
111319000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
95150000 USD
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
134001000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
430560000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CONTINGENCIES</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> separate complaints, one filed by the State of Louisiana and the Parish of Cameron in the 38th Judicial District Court for the Parish of Cameron on </font><font style="font-family:inherit;font-size:10pt;">February&#160;9, 2016</font><font style="font-family:inherit;font-size:10pt;"> and the other filed by the State of Louisiana and the District Attorney for the 15</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">th</sup></font><font style="font-family:inherit;font-size:10pt;"> Judicial District of the State of Louisiana in the 15</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">th</sup></font><font style="font-family:inherit;font-size:10pt;"> Judicial District Court for the Parish of Vermilion on </font><font style="font-family:inherit;font-size:10pt;">July&#160;29, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company was named as a defendant, among </font><font style="font-family:inherit;font-size:10pt;">26</font><font style="font-family:inherit;font-size:10pt;"> oil and gas companies, in the Cameron Parish complaint and among more than </font><font style="font-family:inherit;font-size:10pt;">40</font><font style="font-family:inherit;font-size:10pt;"> oil and gas companies in the Vermilion Parish complaint, or the Complaints. The Complaints were filed under the State and Local Coastal Resources Management Act of </font><font style="font-family:inherit;font-size:10pt;">1978</font><font style="font-family:inherit;font-size:10pt;">, as amended, and the rules, regulations, orders and ordinances adopted thereunder, which the Company referred to collectively as the CZM Laws, and allege that certain of the defendants&#8217; oil and gas exploration, production and transportation operations associated with the development of the East Hackberry and West Hackberry oil and gas fields, in the case of the Cameron Parish complaint, and the Tigre Lagoon and Lac Blanc oil and gas fields, in the case of the Vermilion Parish complaint, were conducted in violation of the CZM Laws. The Complaints allege that such activities caused substantial damage to land and waterbodies located in the coastal zone of the relevant Parish, including due to defendants&#8217; design, construction and use of waste pits and the alleged failure to properly close the waste pits and to clear, re-vegetate, detoxify and return the property affected to its original condition, as well as the defendants&#8217; alleged discharge of waste into the coastal zone. The Complaints also allege that the defendants&#8217; oil and gas activities have resulted in the dredging of numerous canals, which had a direct and significant impact on the state coastal waters within the relevant Parish and that the defendants, among other things, failed to design, construct and maintain these canals using the best practical techniques to prevent bank slumping, erosion and saltwater intrusion and to minimize the potential for inland movement of storm-generated surges, which activities allegedly have resulted in the erosion of marshes and the degradation of terrestrial and aquatic life therein. The Complaints also allege that the defendants failed to re-vegetate, refill, clean, detoxify and otherwise restore these canals to their original condition. In these two petitions, the plaintiffs seek damages and other appropriate relief under the CZM Laws, including the payment of costs necessary to clear, re-vegetate, detoxify and otherwise restore the affected coastal zone of the relevant Parish to its original condition, actual restoration of such coastal zone to its original condition, and the payment of reasonable attorney fees and legal expenses and pre-judgment and post judgment interest.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company was served with the Cameron complaint in early </font><font style="font-family:inherit;font-size:10pt;">May 2016</font><font style="font-family:inherit;font-size:10pt;"> and with the Vermilion complaint in early </font><font style="font-family:inherit;font-size:10pt;">September 2016</font><font style="font-family:inherit;font-size:10pt;">. The Louisiana Attorney General and the Louisiana Department of Natural Resources intervened in both the Cameron Parish suit and the Vermilion Parish suit. Shortly after the Complaints were filed, certain defendants removed the cases to the United States District Court for the Western District of Louisiana. In both cases, the plaintiffs filed motions to remand the lawsuits to state court, which were ultimately granted by the district courts. However, on May 23, 2018, a group of defendants again removed the Cameron Parish and Vermilion Parish lawsuits to federal court. In response, the plaintiffs again filed motions to remand the cases to state court. The removing defendants have opposed plaintiffs&#8217; motions to remand. On January 16, 2019, the federal district court held a hearing on plaintiffs motion to remand. The court took the matter under advisement and has not yet issued a ruling. Further action in the cases will be stayed until the courts rule on the motions to remand. Also, shortly after the May 23, 2018 removal, the removing defendants filed motions with the United States Judicial Panel on Multidistrict Litigation (the &#8220;MDL Panel&#8221;) requesting that the Cameron Parish and Vermilion Parish lawsuits be consolidated with 40 similar lawsuits so that pre-trial proceedings in the cases could be coordinated. The MDL Panel denied the motion to consolidate the lawsuits. Due to the procedural posture of the lawsuits, the cases are still in their early stages and the parties have conducted very little discovery. As a result, the Company has not had the opportunity to evaluate the applicability of the allegations made in plaintiffs' complaints to the Company's operations and management cannot determine the amount of loss, if any, that may result.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, due to the nature of the Company's business, it is, from time to time, involved in routine litigation or subject to disputes or claims related to its business activities. While the outcome of the pending litigation, disputes or claims cannot be predicted with certainty, in the opinion of the Company's management, none of these matters, if decided adversely, will have a material adverse effect on its financial condition, cash flows or results of operations.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Insurance Proceeds</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> the Company was reimbursed </font><font style="font-family:inherit;font-size:10pt;">$0.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$5.7 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, net of related legal fees by its insurance provider, which is included in insurance proceeds in the accompanying consolidated statements of operations. There were </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> insurance proceeds received in the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Concentration of Credit Risk</font></div><div style="line-height:120%;padding-bottom:16px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gulfport operates in the oil and natural gas industry principally in the states of Ohio, Oklahoma and Louisiana with sales to refineries, re-sellers such as marketers, and other end users. While certain of these customers are affected by periodic downturns in the economy in general or in their specific segment of the oil and gas industry, Gulfport believes that its level of credit-related losses due to such economic fluctuations has been immaterial and will continue to be immaterial to the Company&#8217;s results of operations in the long term.</font></div><div style="line-height:120%;padding-bottom:16px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company maintains cash balances at several banks. Accounts at each institution are insured by the Federal Deposit Insurance Corporation up to </font><font style="font-family:inherit;font-size:10pt;">$250,000</font><font style="font-family:inherit;font-size:10pt;">. At </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, Gulfport held cash in excess of insured limits in these banks totaling </font><font style="font-family:inherit;font-size:10pt;">$50.3 million</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, two customers accounted for approximately </font><font style="font-family:inherit;font-size:10pt;">17%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">10%</font><font style="font-family:inherit;font-size:10pt;"> of the Company's total sales. During the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, one customer accounted for approximately </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;"> of the Company's total sales. During the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, three customers accounted for approximately </font><font style="font-family:inherit;font-size:10pt;">59%</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">12%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">10%</font><font style="font-family:inherit;font-size:10pt;"> of the Company's total sales. The Company does not believe that the loss of any of these customers would have a material adverse effect on its oil, natural gas and NGL sales as alternative customers are readily available.</font></div></div>
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassification</font></div><div style="line-height:120%;padding-bottom:16px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to prior period financial statements and related disclosures to conform to current period presentation. These reclassifications have no impact on previous reported total assets, total liabilities, net income (loss) or total operating cash flows.</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:16px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and revenues and expenses during the reporting period. Actual results could differ materially from those estimates. Significant estimates with regard to these financial statements include the estimate of proved oil and gas reserve quantities and the related present value of estimated future net cash flows there from, the amount and timing of asset retirement obligations, the realization of deferred tax assets, the fair value determination of acquired assets and liabilities and the realization of future net operating loss carryforwards available as reductions of income tax expense. The estimate of the Company&#8217;s oil and gas reserves is used to compute depletion, depreciation, amortization and impairment of oil and gas properties.</font></div></div>

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