2017 Q2 Form 10-Q Financial Statement
#000152812917000110 Filed on August 08, 2017
Income Statement
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
Revenue | $187.0M | $146.8M |
YoY Change | 27.41% | -19.5% |
Cost Of Revenue | $73.50M | $72.40M |
YoY Change | 1.52% | -26.35% |
Gross Profit | $113.5M | $74.40M |
YoY Change | 52.55% | -11.43% |
Gross Profit Margin | 60.69% | 50.69% |
Selling, General & Admin | $22.00M | $20.50M |
YoY Change | 7.32% | -11.64% |
% of Gross Profit | 19.38% | 27.55% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $38.00M | $34.18M |
YoY Change | 11.19% | -52.61% |
% of Gross Profit | 33.48% | 45.94% |
Operating Expenses | $61.40M | $55.50M |
YoY Change | 10.63% | -42.13% |
Operating Profit | $52.06M | $17.87M |
YoY Change | 191.27% | -103.56% |
Interest Expense | $23.17M | $23.51M |
YoY Change | -1.44% | -1.91% |
% of Operating Profit | 44.51% | 131.54% |
Other Income/Expense, Net | $9.049M | -$89.31M |
YoY Change | -110.13% | -23.93% |
Pretax Income | $61.11M | -$71.43M |
YoY Change | -185.55% | -88.46% |
Income Tax | $0.00 | $0.00 |
% Of Pretax Income | 0.0% | |
Net Earnings | $61.11M | -$71.43M |
YoY Change | -185.55% | -82.01% |
Net Earnings / Revenue | 32.68% | -48.67% |
Basic Earnings Per Share | $0.26 | -$0.33 |
Diluted Earnings Per Share | $0.25 | -$0.33 |
COMMON SHARES | ||
Basic Shares Outstanding | 239.2M shares | 217.6M shares |
Diluted Shares Outstanding | 244.4M shares | 217.6M shares |
Balance Sheet
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $35.00M | $19.30M |
YoY Change | 81.35% | -66.49% |
Cash & Equivalents | $35.02M | $19.31M |
Short-Term Investments | ||
Other Short-Term Assets | $17.55M | $14.45M |
YoY Change | 21.48% | -37.16% |
Inventory | $8.600M | $7.000M |
Prepaid Expenses | ||
Receivables | $72.11M | $88.54M |
Other Receivables | $139.0K | $266.0K |
Total Short-Term Assets | $167.7M | $211.3M |
YoY Change | -20.64% | -32.88% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $1.499B | $1.144B |
YoY Change | 31.04% | -62.91% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $249.5M | $213.6M |
YoY Change | 16.79% | 106.99% |
Other Assets | $12.01M | $8.414M |
YoY Change | 42.68% | 45.9% |
Total Long-Term Assets | $1.774B | $1.399B |
YoY Change | 26.79% | -58.7% |
TOTAL ASSETS | ||
Total Short-Term Assets | $167.7M | $211.3M |
Total Long-Term Assets | $1.774B | $1.399B |
Total Assets | $1.941B | $1.610B |
YoY Change | 20.56% | -56.51% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $10.78M | $14.50M |
YoY Change | -25.68% | -37.67% |
Accrued Expenses | $119.7M | $100.8M |
YoY Change | 18.75% | -33.64% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $172.1M | $153.8M |
YoY Change | 11.88% | -50.4% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $1.390B | $1.393B |
YoY Change | -0.19% | -2.25% |
Other Long-Term Liabilities | $3.457M | $3.844M |
YoY Change | -10.07% | -9.32% |
Total Long-Term Liabilities | $1.394B | $1.397B |
YoY Change | -0.21% | -2.28% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $172.1M | $153.8M |
Total Long-Term Liabilities | $1.394B | $1.397B |
Total Liabilities | $1.617B | $1.601B |
YoY Change | 0.99% | -9.71% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$2.089B | -$2.209B |
YoY Change | -5.45% | 1424.46% |
Common Stock | $2.413B | $2.218B |
YoY Change | 8.78% | 6.97% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $324.4M | $9.162M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $1.941B | $1.610B |
YoY Change | 20.56% | -56.51% |
Cashflow Statement
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $61.11M | -$71.43M |
YoY Change | -185.55% | -82.01% |
Depreciation, Depletion And Amortization | $38.00M | $34.18M |
YoY Change | 11.19% | -52.61% |
Cash From Operating Activities | $93.10M | $82.10M |
YoY Change | 13.4% | -6.06% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$127.5M | -$93.60M |
YoY Change | 36.22% | -36.37% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $3.900M | -$15.90M |
YoY Change | -124.53% | |
Cash From Investing Activities | -$123.6M | -$109.4M |
YoY Change | 12.98% | -25.63% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $119.3M | |
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 35.10M | 34.60M |
YoY Change | 1.45% | -107.66% |
NET CHANGE | ||
Cash From Operating Activities | 93.10M | 82.10M |
Cash From Investing Activities | -123.6M | -109.4M |
Cash From Financing Activities | 35.10M | 34.60M |
Net Change In Cash | 4.600M | 7.300M |
YoY Change | -36.99% | -101.43% |
FREE CASH FLOW | ||
Cash From Operating Activities | $93.10M | $82.10M |
Capital Expenditures | -$127.5M | -$93.60M |
Free Cash Flow | $220.6M | $175.7M |
YoY Change | 25.55% | -25.07% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
lpi |
Asset Retirement Obligation Settled Upon Plugging And Abandonment
AssetRetirementObligationSettledUponPluggingAndAbandonment
|
363000 | USD | |
lpi |
Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
|
6449000 | USD | |
lpi |
Oil And Gas Midstream Service Revenue
OilAndGasMidstreamServiceRevenue
|
5702000 | USD | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2017 | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2017-06-30 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001528129 | ||
CY2017Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
242505312 | shares |
dei |
Entity Filer Category
EntityFilerCategory
|
Large Accelerated Filer | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
Laredo Petroleum, Inc. | ||
CY2016Q4 | lpi |
Accounts Receivable Matured Derivatives Current
AccountsReceivableMaturedDerivativesCurrent
|
11059000 | USD |
CY2017Q2 | lpi |
Accounts Receivable Matured Derivatives Current
AccountsReceivableMaturedDerivativesCurrent
|
5982000 | USD |
CY2016Q4 | lpi |
Accounts Receivable Oil And Gas Sales Net Current
AccountsReceivableOilAndGasSalesNetCurrent
|
46999000 | USD |
CY2017Q2 | lpi |
Accounts Receivable Oil And Gas Sales Net Current
AccountsReceivableOilAndGasSalesNetCurrent
|
45495000 | USD |
CY2016Q4 | lpi |
Accounts Receivable Purchased Oil And Other Product Sales Current
AccountsReceivablePurchasedOilAndOtherProductSalesCurrent
|
16213000 | USD |
CY2017Q2 | lpi |
Accounts Receivable Purchased Oil And Other Product Sales Current
AccountsReceivablePurchasedOilAndOtherProductSalesCurrent
|
11518000 | USD |
CY2016Q4 | lpi |
Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
|
30845000 | USD |
CY2017Q2 | lpi |
Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
|
53700000 | USD |
CY2016Q4 | lpi |
Accumulated Depreciation Depletion Amortization And Impairment Property Plant And Equipment
AccumulatedDepreciationDepletionAmortizationAndImpairmentPropertyPlantAndEquipment
|
4514183000 | USD |
CY2017Q2 | lpi |
Accumulated Depreciation Depletion Amortization And Impairment Property Plant And Equipment
AccumulatedDepreciationDepletionAmortizationAndImpairmentPropertyPlantAndEquipment
|
4578831000 | USD |
CY2016 | lpi |
Asset Retirement Obligation Settled Upon Plugging And Abandonment
AssetRetirementObligationSettledUponPluggingAndAbandonment
|
1242000 | USD |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
2187000 | USD | |
lpi |
Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
|
253000 | USD | |
lpi |
Capitalized Asset Retirement Cost
CapitalizedAssetRetirementCost
|
325000 | USD | |
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
2094000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
4732000 | USD | |
us-gaap |
Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
|
0 | USD | |
us-gaap |
Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
|
0 | USD | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
|
0 | USD | |
lpi |
Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
|
10973000 | USD | |
CY2017Q2 | lpi |
Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
|
5763000 | USD |
CY2016Q2 | lpi |
Capitalized Costs Of Oil And Gas Properties Employee Related Costs Incurred
CapitalizedCostsOfOilAndGasPropertiesEmployeeRelatedCostsIncurred
|
3253000 | USD |
CY2016Q4 | lpi |
Capitalized Costs Proved Properties Net
CapitalizedCostsProvedPropertiesNet
|
974573000 | USD |
CY2017Q2 | lpi |
Capitalized Costs Proved Properties Net
CapitalizedCostsProvedPropertiesNet
|
1125042000 | USD |
lpi |
Cash Settlements Of Matured Derivative Financial Instruments Net
CashSettlementsOfMaturedDerivativeFinancialInstrumentsNet
|
113319000 | USD | |
lpi |
Cash Settlements Of Matured Derivative Financial Instruments Net
CashSettlementsOfMaturedDerivativeFinancialInstrumentsNet
|
21156000 | USD | |
lpi |
Change In Capital Expenditures Incurred But Not Yet Paid
ChangeInCapitalExpendituresIncurredButNotYetPaid
|
-22012000 | USD | |
lpi |
Change In Capital Expenditures Incurred But Not Yet Paid
ChangeInCapitalExpendituresIncurredButNotYetPaid
|
22855000 | USD | |
lpi |
Change In Net Present Value Of Deferred Premiums For Derivative Financial Instruments
ChangeInNetPresentValueOfDeferredPremiumsForDerivativeFinancialInstruments
|
133000 | USD | |
lpi |
Change In Net Present Value Of Deferred Premiums For Derivative Financial Instruments
ChangeInNetPresentValueOfDeferredPremiumsForDerivativeFinancialInstruments
|
111000 | USD | |
CY2016Q4 | lpi |
Debt Issuance Costs Including Line Of Credit Arrangements Net
DebtIssuanceCostsIncludingLineOfCreditArrangementsNet
|
18800000 | USD |
CY2017Q2 | lpi |
Debt Issuance Costs Including Line Of Credit Arrangements Net
DebtIssuanceCostsIncludingLineOfCreditArrangementsNet
|
21400000 | USD |
CY2017Q2 | lpi |
Deferred Finance Costs Amortization Expense After Year Five
DeferredFinanceCostsAmortizationExpenseAfterYearFive
|
1947000 | USD |
CY2017Q2 | lpi |
Deferred Finance Costs Amortization Expense Remainder Of Fiscal Year
DeferredFinanceCostsAmortizationExpenseRemainderOfFiscalYear
|
2082000 | USD |
CY2017Q2 | lpi |
Deferred Finance Costs Amortization Expense Year Five
DeferredFinanceCostsAmortizationExpenseYearFive
|
4493000 | USD |
CY2017Q2 | lpi |
Deferred Finance Costs Amortization Expense Year Four
DeferredFinanceCostsAmortizationExpenseYearFour
|
4396000 | USD |
CY2017Q2 | lpi |
Deferred Finance Costs Amortization Expense Year Three
DeferredFinanceCostsAmortizationExpenseYearThree
|
4308000 | USD |
CY2017Q2 | lpi |
Deferred Finance Costs Amortization Expense Year Two
DeferredFinanceCostsAmortizationExpenseYearTwo
|
4223000 | USD |
CY2016Q2 | lpi |
Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
|
7.06 | |
lpi |
Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
|
8.01 | ||
CY2017Q2 | lpi |
Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
|
6.44 | |
lpi |
Depletion Expense Per Physical Unit Of Production
DepletionExpensePerPhysicalUnitOfProduction
|
6.44 | ||
lpi |
Depreciation Depletion And Amortization Excluding Amortization Of Financing Costs
DepreciationDepletionAndAmortizationExcludingAmortizationOfFinancingCosts
|
75655000 | USD | |
lpi |
Depreciation Depletion And Amortization Excluding Amortization Of Financing Costs
DepreciationDepletionAndAmortizationExcludingAmortizationOfFinancingCosts
|
72115000 | USD | |
CY2017Q2 | lpi |
Derivative Financial Instrument Deferred Premium Future Payments Due
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDue
|
12798000 | USD |
CY2017Q2 | lpi |
Derivative Financial Instrument Deferred Premium Future Payments Due Due In Three Years
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueDueInThreeYears
|
535000 | USD |
CY2017Q2 | lpi |
Derivative Financial Instrument Deferred Premium Future Payments Due Due In Two Years
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueDueInTwoYears
|
9375000 | USD |
CY2017Q2 | lpi |
Derivative Financial Instrument Deferred Premium Future Payments Due Remaining Fiscal Year
DerivativeFinancialInstrumentDeferredPremiumFuturePaymentsDueRemainingFiscalYear
|
2888000 | USD |
lpi |
Discount Rate Full Cost Ceiling
DiscountRateFullCostCeiling
|
0.1 | ||
lpi |
Increase Decrease In Investments With Affiliates
IncreaseDecreaseInInvestmentsWithAffiliates
|
0 | USD | |
lpi |
Increase Decrease In Investments With Affiliates
IncreaseDecreaseInInvestmentsWithAffiliates
|
0 | USD | |
lpi |
Increase Decrease In Undistributed Revenue And Accrued Royalties
IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties
|
-9088000 | USD | |
lpi |
Increase Decrease In Undistributed Revenue And Accrued Royalties
IncreaseDecreaseInUndistributedRevenueAndAccruedRoyalties
|
5328000 | USD | |
CY2016Q4 | lpi |
Inventory And Linefill Assets
InventoryAndLinefillAssets
|
8063000 | USD |
CY2017Q2 | lpi |
Inventory And Linefill Assets
InventoryAndLinefillAssets
|
8590000 | USD |
CY2016Q4 | lpi |
Midstream Service Assets Net
MidstreamServiceAssetsNet
|
126240000 | USD |
CY2017Q2 | lpi |
Midstream Service Assets Net
MidstreamServiceAssetsNet
|
128941000 | USD |
CY2016Q2 | lpi |
Midstream Service Costs
MidstreamServiceCosts
|
1178000 | USD |
lpi |
Midstream Service Costs
MidstreamServiceCosts
|
1787000 | USD | |
CY2017Q2 | lpi |
Midstream Service Costs
MidstreamServiceCosts
|
896000 | USD |
lpi |
Midstream Service Costs
MidstreamServiceCosts
|
1812000 | USD | |
lpi |
Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
|
0 | USD | |
CY2017Q2 | lpi |
Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
|
500000 | USD |
lpi |
Minimum Volume Commitments Deficiency Payments
MinimumVolumeCommitmentsDeficiencyPayments
|
600000 | USD | |
us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-196000 | USD | |
CY2016Q2 | lpi |
Oil And Gas Midstream Service Revenue
OilAndGasMidstreamServiceRevenue
|
1632000 | USD |
lpi |
Oil And Gas Midstream Service Revenue
OilAndGasMidstreamServiceRevenue
|
3433000 | USD | |
CY2017Q2 | lpi |
Oil And Gas Midstream Service Revenue
OilAndGasMidstreamServiceRevenue
|
2703000 | USD |
CY2016Q2 | lpi |
Oil And Gas Property Lease Operating Expense Including Productionand Ad Valorem Tax
OilAndGasPropertyLeaseOperatingExpenseIncludingProductionandAdValoremTax
|
27207000 | USD |
lpi |
Oil And Gas Property Lease Operating Expense Including Productionand Ad Valorem Tax
OilAndGasPropertyLeaseOperatingExpenseIncludingProductionandAdValoremTax
|
54160000 | USD | |
CY2017Q2 | lpi |
Oil And Gas Property Lease Operating Expense Including Productionand Ad Valorem Tax
OilAndGasPropertyLeaseOperatingExpenseIncludingProductionandAdValoremTax
|
28576000 | USD |
lpi |
Oil And Gas Property Lease Operating Expense Including Productionand Ad Valorem Tax
OilAndGasPropertyLeaseOperatingExpenseIncludingProductionandAdValoremTax
|
54349000 | USD | |
CY2016Q4 | lpi |
Oil Gas Properties Lease Operating Expense Accrual
OilGasPropertiesLeaseOperatingExpenseAccrual
|
10572000 | USD |
CY2017Q2 | lpi |
Oil Gas Properties Lease Operating Expense Accrual
OilGasPropertiesLeaseOperatingExpenseAccrual
|
8814000 | USD |
CY2016Q4 | lpi |
Other Assets Current Not Separately Disclosed
OtherAssetsCurrentNotSeparatelyDisclosed
|
67910000 | USD |
CY2017Q2 | lpi |
Other Assets Current Not Separately Disclosed
OtherAssetsCurrentNotSeparatelyDisclosed
|
95557000 | USD |
CY2016Q4 | lpi |
Other Assets Noncurrent Not Separately Disclosed
OtherAssetsNoncurrentNotSeparatelyDisclosed
|
16749000 | USD |
CY2017Q2 | lpi |
Other Assets Noncurrent Not Separately Disclosed
OtherAssetsNoncurrentNotSeparatelyDisclosed
|
24812000 | USD |
CY2016Q4 | lpi |
Other Liabilities Current Not Separately Disclosed
OtherLiabilitiesCurrentNotSeparatelyDisclosed
|
172891000 | USD |
CY2017Q2 | lpi |
Other Liabilities Current Not Separately Disclosed
OtherLiabilitiesCurrentNotSeparatelyDisclosed
|
161306000 | USD |
CY2016Q4 | lpi |
Other Liabilities Noncurrent Not Separately Disclosed
OtherLiabilitiesNoncurrentNotSeparatelyDisclosed
|
59919000 | USD |
CY2017Q2 | lpi |
Other Liabilities Noncurrent Not Separately Disclosed
OtherLiabilitiesNoncurrentNotSeparatelyDisclosed
|
54491000 | USD |
lpi |
Payments To Acquire Midstream Service Assets
PaymentsToAcquireMidstreamServiceAssets
|
3425000 | USD | |
lpi |
Payments To Acquire Midstream Service Assets
PaymentsToAcquireMidstreamServiceAssets
|
6117000 | USD | |
lpi |
Premiums Paid For Derivative Financial Instruments
PremiumsPaidForDerivativeFinancialInstruments
|
84263000 | USD | |
lpi |
Premiums Paid For Derivative Financial Instruments
PremiumsPaidForDerivativeFinancialInstruments
|
12094000 | USD | |
lpi |
Proceeds From Payments For Cash Settlements Early Terminations Of Derivative Financial Instruments Net
ProceedsFromPaymentsForCashSettlementsEarlyTerminationsOfDerivativeFinancialInstrumentsNet
|
80000000 | USD | |
lpi |
Proceeds From Payments For Cash Settlements Early Terminations Of Derivative Financial Instruments Net
ProceedsFromPaymentsForCashSettlementsEarlyTerminationsOfDerivativeFinancialInstrumentsNet
|
4234000 | USD | |
CY2016Q2 | lpi |
Property Plant And Equipment Including Equity Method Investments Gross
PropertyPlantAndEquipmentIncludingEquityMethodInvestmentsGross
|
5846670000 | USD |
CY2017Q2 | lpi |
Property Plant And Equipment Including Equity Method Investments Gross
PropertyPlantAndEquipmentIncludingEquityMethodInvestmentsGross
|
6378809000 | USD |
CY2016Q4 | lpi |
Undistributed Revenue And Accrued Royalties Current
UndistributedRevenueAndAccruedRoyaltiesCurrent
|
26838000 | USD |
CY2017Q2 | lpi |
Undistributed Revenue And Accrued Royalties Current
UndistributedRevenueAndAccruedRoyaltiesCurrent
|
32166000 | USD |
CY2016Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
15054000 | USD |
CY2017Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
10777000 | USD |
CY2016Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
86867000 | USD |
CY2017Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
72107000 | USD |
CY2016Q4 | us-gaap |
Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
|
0 | USD |
CY2017Q2 | us-gaap |
Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
|
0 | USD |
CY2016Q4 | us-gaap |
Accumulated Amortization Of Noncurrent Deferred Finance Costs
AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts
|
21300000 | USD |
CY2017Q2 | us-gaap |
Accumulated Amortization Of Noncurrent Deferred Finance Costs
AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts
|
23400000 | USD |
CY2016Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
2396236000 | USD |
CY2017Q2 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
2410674000 | USD |
us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
7597000 | USD | |
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
21683000 | USD | |
CY2016Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
6073000 | USD |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
9911000 | USD | |
CY2017Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
8687000 | USD |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
17911000 | USD | |
CY2016Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
200000 | USD |
us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-165000 | USD | |
CY2017Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
100000 | USD |
CY2016Q2 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
963000 | USD |
us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
162027000 | USD | |
CY2017Q2 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | USD |
us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | USD | |
CY2015Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
46306000 | USD |
CY2016Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
52207000 | USD |
CY2017Q2 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
53169000 | USD |
CY2016 | us-gaap |
Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
|
3483000 | USD |
us-gaap |
Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
|
1871000 | USD | |
CY2016 | us-gaap |
Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
|
1528000 | USD |
us-gaap |
Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
|
320000 | USD | |
CY2016 | us-gaap |
Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
|
0 | USD |
us-gaap |
Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
|
871000 | USD | |
CY2016 | us-gaap |
Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
|
2132000 | USD |
us-gaap |
Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
|
5000 | USD | |
CY2016Q4 | us-gaap |
Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
|
50604000 | USD |
CY2017Q2 | us-gaap |
Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
|
51034000 | USD |
CY2016Q4 | us-gaap |
Assets
Assets
|
1782346000 | USD |
CY2017Q2 | us-gaap |
Assets
Assets
|
1941254000 | USD |
CY2016Q4 | us-gaap |
Assets Current
AssetsCurrent
|
154777000 | USD |
CY2017Q2 | us-gaap |
Assets Current
AssetsCurrent
|
167664000 | USD |
CY2016Q4 | us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
|
221281000 | USD |
CY2017Q2 | us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization Cumulative
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative
|
203888000 | USD |
CY2016Q4 | us-gaap |
Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
|
5488756000 | USD |
CY2017Q2 | us-gaap |
Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
|
5703873000 | USD |
CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
31154000 | USD |
CY2016Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
19309000 | USD |
CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
32672000 | USD |
CY2017Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
35024000 | USD |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-11845000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
2352000 | USD | |
CY2016Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2017Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2017Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2016Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
450000000 | shares |
CY2017Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
450000000 | shares |
CY2016Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
241929070 | shares |
CY2017Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
242534185 | shares |
CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
241929070 | shares |
CY2017Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
242534185 | shares |
CY2016Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
2419000 | USD |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
117000 | USD | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
3516000 | USD | |
CY2017Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
2425000 | USD |
CY2016Q2 | us-gaap |
Cost Of Purchased Oil And Gas
CostOfPurchasedOilAndGas
|
44012000 | USD |
us-gaap |
Cost Of Purchased Oil And Gas
CostOfPurchasedOilAndGas
|
76958000 | USD | |
CY2017Q2 | us-gaap |
Cost Of Purchased Oil And Gas
CostOfPurchasedOilAndGas
|
44020000 | USD |
us-gaap |
Cost Of Purchased Oil And Gas
CostOfPurchasedOilAndGas
|
94276000 | USD | |
CY2016Q2 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
128899000 | USD |
us-gaap |
Costs And Expenses
CostsAndExpenses
|
412244000 | USD | |
CY2017Q2 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
134940000 | USD |
us-gaap |
Costs And Expenses
CostsAndExpenses
|
272620000 | USD | |
CY2016Q2 | us-gaap |
Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
|
0 | USD |
us-gaap |
Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
|
0 | USD | |
CY2017Q2 | us-gaap |
Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
|
0 | USD |
us-gaap |
Costs Incurred Acquisition Of Oil And Gas Properties With Proved Reserves
CostsIncurredAcquisitionOfOilAndGasPropertiesWithProvedReserves
|
0 | USD | |
CY2016Q2 | us-gaap |
Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
|
0 | USD |
us-gaap |
Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
|
0 | USD | |
CY2017Q2 | us-gaap |
Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
|
0 | USD |
us-gaap |
Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
|
0 | USD | |
CY2016Q2 | us-gaap |
Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
|
70806000 | USD |
us-gaap |
Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
|
152692000 | USD | |
CY2017Q2 | us-gaap |
Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
|
125738000 | USD |
us-gaap |
Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
|
236896000 | USD | |
CY2016Q2 | us-gaap |
Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
|
19769000 | USD |
us-gaap |
Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
|
27032000 | USD | |
CY2017Q2 | us-gaap |
Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
|
5658000 | USD |
us-gaap |
Costs Incurred Exploration Costs
CostsIncurredExplorationCosts
|
21201000 | USD | |
CY2016Q2 | us-gaap |
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
|
90575000 | USD |
us-gaap |
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
|
179724000 | USD | |
CY2017Q2 | us-gaap |
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
|
131396000 | USD |
us-gaap |
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities
CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities
|
258097000 | USD | |
CY2016Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
1370000000 | USD |
CY2017Q2 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
1405000000 | USD |
CY2016Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
16091000 | USD |
CY2017Q2 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
14723000 | USD |
CY2017Q2 | us-gaap |
Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
|
21449000 | USD |
CY2016Q2 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | USD |
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | USD | |
CY2017Q2 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | USD |
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | USD | |
CY2017Q2 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
716200000 | USD |
CY2016Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
34177000 | USD |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
75655000 | USD | |
CY2017Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
38003000 | USD |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
72115000 | USD | |
CY2016Q4 | us-gaap |
Derivative Assets Current
DerivativeAssetsCurrent
|
20947000 | USD |
CY2017Q2 | us-gaap |
Derivative Assets Current
DerivativeAssetsCurrent
|
42985000 | USD |
CY2016Q4 | us-gaap |
Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
|
8718000 | USD |
CY2017Q2 | us-gaap |
Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
|
12807000 | USD |
CY2016Q4 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
20993000 | USD |
CY2017Q2 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
653000 | USD |
CY2016Q4 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
5694000 | USD |
CY2017Q2 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
0 | USD |
CY2016Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.33 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.17 | ||
CY2017Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.26 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.54 | ||
CY2016Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.33 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.17 | ||
CY2017Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.25 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.53 | ||
CY2016Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
25947000 | USD |
CY2017Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
9122000 | USD |
CY2016Q2 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
989000 | USD |
us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
1771000 | USD | |
CY2017Q2 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
1792000 | USD |
us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
3772000 | USD | |
CY2016Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
243953000 | USD |
CY2017Q2 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
249492000 | USD |
CY2016Q2 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
-68518000 | USD |
us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
-50633000 | USD | |
CY2017Q2 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
28897000 | USD |
us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
65568000 | USD | |
CY2016Q2 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-141000 | USD |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-301000 | USD | |
CY2017Q2 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
805000 | USD |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
591000 | USD | |
CY2016Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
20502000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
39953000 | USD | |
CY2017Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
22008000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
47605000 | USD | |
CY2016Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-71432000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-251803000 | USD | |
CY2017Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
61110000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
129386000 | USD | |
CY2016Q2 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
3696000 | USD |
us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
5994000 | USD | |
CY2017Q2 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
2471000 | USD |
us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
5539000 | USD | |
CY2016Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD | |
CY2017Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
319000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-4277000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
844000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-14760000 | USD | |
us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
-27583000 | USD | |
us-gaap |
Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
|
0 | USD | |
us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
295000 | USD | |
us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
-20449000 | USD | |
CY2016Q2 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
11000 | USD |
us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
110000 | USD | |
CY2017Q2 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
49000 | USD |
us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
194000 | USD | |
CY2016Q2 | us-gaap |
Interest Expense
InterestExpense
|
23512000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
47217000 | USD | |
CY2017Q2 | us-gaap |
Interest Expense
InterestExpense
|
23173000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
45893000 | USD | |
us-gaap |
Interest Paid Capitalized
InterestPaidCapitalized
|
115000 | USD | |
us-gaap |
Interest Paid Capitalized
InterestPaidCapitalized
|
490000 | USD | |
CY2016Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
24152000 | USD |
CY2017Q2 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
24354000 | USD |
CY2016Q4 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
243953000 | USD |
CY2017Q2 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
249492000 | USD |
CY2016Q2 | us-gaap |
Lease Operating Expense
LeaseOperatingExpense
|
19225000 | USD |
us-gaap |
Lease Operating Expense
LeaseOperatingExpense
|
39743000 | USD | |
CY2017Q2 | us-gaap |
Lease Operating Expense
LeaseOperatingExpense
|
20104000 | USD |
us-gaap |
Lease Operating Expense
LeaseOperatingExpense
|
37096000 | USD | |
CY2016Q4 | us-gaap |
Liabilities
Liabilities
|
1601773000 | USD |
CY2017Q2 | us-gaap |
Liabilities
Liabilities
|
1616851000 | USD |
CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1782346000 | USD |
CY2017Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1941254000 | USD |
CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
187945000 | USD |
CY2017Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
172083000 | USD |
CY2016Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
1353909000 | USD |
CY2017Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
1390277000 | USD |
CY2016Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1353909000 | USD |
CY2017Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1390277000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
93154000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
23029000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-243630000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-177578000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
138631000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
156901000 | USD | |
CY2016Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-71432000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-251803000 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
25999000 | USD | |
us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | segment | |
CY2017Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
61110000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
129386000 | USD | |
CY2016Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-89306000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-92889000 | USD | |
CY2017Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
9049000 | USD |
CY2016Q4 | us-gaap |
Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
|
12175000 | USD |
CY2017Q2 | us-gaap |
Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
|
8973000 | USD |
CY2016Q4 | us-gaap |
Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
|
1195854000 | USD |
CY2017Q2 | us-gaap |
Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
|
1328930000 | USD |
CY2016Q4 | us-gaap |
Oil And Gas Sales Payable Current And Noncurrent
OilAndGasSalesPayableCurrentAndNoncurrent
|
17213000 | USD |
CY2017Q2 | us-gaap |
Oil And Gas Sales Payable Current And Noncurrent
OilAndGasSalesPayableCurrentAndNoncurrent
|
11971000 | USD |
CY2016Q2 | us-gaap |
Oil And Gas Sales Revenue
OilAndGasSalesRevenue
|
102526000 | USD |
us-gaap |
Oil And Gas Sales Revenue
OilAndGasSalesRevenue
|
175668000 | USD | |
CY2017Q2 | us-gaap |
Oil And Gas Sales Revenue
OilAndGasSalesRevenue
|
141837000 | USD |
us-gaap |
Oil And Gas Sales Revenue
OilAndGasSalesRevenue
|
280573000 | USD | |
CY2016Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
17874000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-158914000 | USD | |
CY2017Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
52061000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
103387000 | USD | |
CY2016Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
16331000 | USD |
CY2017Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
20526000 | USD |
CY2016Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
14291000 | USD |
CY2017Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
17548000 | USD |
CY2016Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
8031000 | USD |
CY2017Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
12005000 | USD |
CY2016Q2 | us-gaap |
Other Cost And Expense Operating
OtherCostAndExpenseOperating
|
860000 | USD |
us-gaap |
Other Cost And Expense Operating
OtherCostAndExpenseOperating
|
1704000 | USD | |
CY2017Q2 | us-gaap |
Other Cost And Expense Operating
OtherCostAndExpenseOperating
|
1437000 | USD |
us-gaap |
Other Cost And Expense Operating
OtherCostAndExpenseOperating
|
2463000 | USD | |
CY2016Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
94215000 | USD |
CY2017Q2 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
74787000 | USD |
CY2016Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
3621000 | USD |
CY2017Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
3457000 | USD |
CY2016Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-65794000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-45672000 | USD | |
CY2017Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
32222000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
71892000 | USD | |
us-gaap |
Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
|
2009000 | USD | |
us-gaap |
Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
|
1414000 | USD | |
CY2016Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
421000 | USD |
CY2017Q2 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
139000 | USD |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
1541000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
7597000 | USD | |
CY2016Q2 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
93577000 | USD |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
0 | USD | |
us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
42681000 | USD | |
us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
0 | USD | |
us-gaap |
Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
|
832000 | USD | |
us-gaap |
Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
|
2683000 | USD | |
us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
201299000 | USD | |
CY2017Q2 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
127543000 | USD |
us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
241019000 | USD | |
us-gaap |
Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
|
197042000 | USD | |
us-gaap |
Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
|
232219000 | USD | |
CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2017Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2017Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2017Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2017Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2016Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
6228000 | USD |
CY2017Q2 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
8958000 | USD |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
119310000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD | |
us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
120000000 | USD | |
us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
90000000 | USD | |
us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
350000 | USD | |
us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
63441000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
67000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
358000 | USD | |
CY2016Q2 | us-gaap |
Production Tax Expense
ProductionTaxExpense
|
7982000 | USD |
us-gaap |
Production Tax Expense
ProductionTaxExpense
|
14417000 | USD | |
CY2017Q2 | us-gaap |
Production Tax Expense
ProductionTaxExpense
|
8472000 | USD |
us-gaap |
Production Tax Expense
ProductionTaxExpense
|
17253000 | USD | |
CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1366867000 | USD |
CY2017Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1499286000 | USD |
CY2016Q4 | us-gaap |
Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
|
44773000 | USD |
CY2017Q2 | us-gaap |
Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
|
41415000 | USD |
us-gaap |
Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
|
144682000 | USD | |
us-gaap |
Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
|
55000000 | USD | |
CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-2218082000 | USD |
CY2017Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-2088696000 | USD |
CY2016Q2 | us-gaap |
Revenue From Purchased Oil And Gas
RevenueFromPurchasedOilAndGas
|
42615000 | USD |
us-gaap |
Revenue From Purchased Oil And Gas
RevenueFromPurchasedOilAndGas
|
74229000 | USD | |
CY2017Q2 | us-gaap |
Revenue From Purchased Oil And Gas
RevenueFromPurchasedOilAndGas
|
42461000 | USD |
us-gaap |
Revenue From Purchased Oil And Gas
RevenueFromPurchasedOilAndGas
|
89732000 | USD | |
CY2016Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
146773000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
253330000 | USD | |
CY2017Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
187001000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
376007000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
9911000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
17911000 | USD | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
|
6394000 | USD | |
us-gaap |
Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
|
0 | USD | |
CY2016Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
7062000 | USD |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
11682000 | USD | |
CY2017Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
10479000 | USD |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
|
21683000 | USD | |
us-gaap |
Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
|
0 | USD | |
us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
0 | USD | |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
358000 | USD | |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
180573000 | USD |
CY2017Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
324403000 | USD |
us-gaap |
Threshold Period Past Due For Writeoff Of Trade Accounts Receivable
ThresholdPeriodPastDueForWriteoffOfTradeAccountsReceivable
|
P90D | ||
CY2016Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
217564000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
214562000 | shares | |
CY2017Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
244417000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
244385000 | shares | |
CY2016Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
217564000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
214562000 | shares | |
CY2017Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
239231000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
238870000 | shares | |
us-gaap |
Well Service Expense
WellServiceExpense
|
0 | USD | |
us-gaap |
Well Service Expense
WellServiceExpense
|
0 | USD | |
CY2016Q2 | us-gaap |
Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
|
842000 | USD |
us-gaap |
Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
|
842000 | USD | |
CY2017Q2 | us-gaap |
Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
|
0 | USD |
us-gaap |
Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
|
0 | USD | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Credit risk</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's oil, NGL and natural gas sales are made to a variety of purchasers, including intrastate and interstate pipelines or their marketing affiliates and independent marketing companies. The Company's joint operations accounts receivable are from a number of oil and natural gas companies, partnerships, individuals and others who own interests in the oil and natural gas properties operated by the Company. The Company's sales of purchased oil are made to </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> customer. Management believes that any credit risk imposed by a concentration in the oil and natural gas industry is offset by the creditworthiness of the Company's customer base and industry partners. The Company routinely assesses the recoverability of all material trade and other receivables to determine collectability.</font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company uses derivatives to hedge its exposure to oil, NGL and natural gas price volatility. These transactions expose the Company to potential credit risk from its counterparties. In accordance with the Company's standard practice, its derivatives are subject to counterparty netting under agreements governing such derivatives; therefore, the credit risk associated with its derivative counterparties is somewhat mitigated.</font></div></div> | ||
us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"> </font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts in the accompanying unaudited consolidated financial statements have been reclassified to conform to the 2017 presentation. These reclassifications had no impact to previously reported balance sheets or stockholders' equity.</font></div></div> | ||
us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Laredo Petroleum, Inc. ("Laredo"), together with its wholly-owned subsidiaries, Laredo Midstream Services, LLC ("LMS") and Garden City Minerals, LLC ("GCM"), is an independent energy company focused on the acquisition, exploration and development of oil and natural gas properties, and the </font><font style="font-family:inherit;font-size:10pt;">gathering of oil and liquids-rich natural gas</font><font style="font-family:inherit;font-size:10pt;"> from such properties, primarily in the Permian Basin in West Texas. LMS and GCM (together, the "Guarantors") guarantee all of Laredo's debt instruments. In these notes, the "Company" refers to Laredo, LMS and GCM collectively, unless the context indicates otherwise. All amounts, dollars and percentages presented in these unaudited consolidated financial statements and the related notes are rounded and therefore approximate. </font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LMS holds </font><font style="font-family:inherit;font-size:10pt;">49%</font><font style="font-family:inherit;font-size:10pt;"> of the ownership units of Medallion Gathering & Processing, LLC, a Texas limited liability company formed on October 12, 2012, which, together with its wholly-owned subsidiaries (collectively, "Medallion"), is focused on developing midstream solutions and providing midstream infrastructure in the Midland Basin. The Company accounts for Medallion as an equity method investment.</font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company operates in </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> business segments: (i) exploration and production and (ii) midstream and marketing. The exploration and production segment is engaged in the acquisition, exploration and development of oil and natural gas properties. The midstream and marketing segment provides Laredo's exploration and production segment and third parties with products and services that need to be delivered by midstream infrastructure, including oil and liquids-rich natural gas gathering services as well as rig fuel, natural gas lift and water delivery and takeaway.</font></div></div> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of estimates in the preparation of interim unaudited consolidated financial statements</font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the accompanying unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although management believes these estimates are reasonable, actual results could differ. The interim results reflected in the unaudited consolidated financial statements are not necessarily indicative of the results that may be expected for other interim periods or for the full year. </font></div><div style="line-height:120%;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Significant estimates include, but are not limited to, (i) estimates of the Company's reserves of oil, NGL and natural gas, (ii) future cash flows from oil and natural gas properties, (iii) depletion, depreciation and amortization, (iv) impairments, (v) asset retirement obligations, (vi) stock-based compensation, (vii) deferred income taxes, (viii) fair value of assets acquired and liabilities assumed in an acquisition, (ix) fair value of derivatives and deferred premiums and (x) contingent liabilities. As fair value is a market-based measurement, it is determined based on the assumptions that would be used by market participants. These estimates and assumptions are based on management's best judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Such estimates and assumptions are adjusted when facts and circumstances dictate. Illiquid credit markets and volatile equity and energy markets have combined to increase the uncertainty inherent in such estimates and assumptions. Management believes its estimates and assumptions to be reasonable under the circumstances. As future events and their effects cannot be determined with precision, actual values and results could differ from these estimates. Any changes in estimates resulting from future changes in the economic environment will be reflected in the financial statements in future periods.</font></div></div> |