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Acquisitions and Divestitures - Business Acquisition Pro Forma Information Incremental Items (Details)

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Acquisitions and Divestitures - Business Acquisition Pro Forma Information Incremental Items (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Business Acquisition [Line Items]    
Revenues $ 127,907 $ 254,516
DD&A 125,467 123,306
G&A 20,766 23,588
Interest expense 22,944 21,460
Capitalized (1,783) (2,072)
Income tax expense (103,574) 6,648
Woodside Properties    
Business Acquisition [Line Items]    
Revenues 5,500  
Direct operating expenses 3,200  
DD&A 4,100  
Income tax expense $ 600  
Woodside Properties | Pro Forma    
Business Acquisition [Line Items]    
Revenues [1]   13,859
Direct operating expenses [1]   2,612
DD&A [2]   4,989
G&A [3]   200
Interest expense [4]   246
Capitalized [5]   (14)
Income tax expense [6]   $ 2,039
[1] Revenues and direct operating expenses for the Woodside Properties were derived from the historical financial records of Woodside
[2] DD&A was estimated using the full-cost method and determined as the incremental DD&A expense due to adding the Woodside Properties’ costs, reserves and production into our full cost pool in order to compute such amounts. The purchase price allocated to unevaluated properties for oil and natural gas interests was excluded from the DD&A expense estimation. ARO was estimated by W&T management.
[3] Estimated insurance costs related to the Woodside Properties.
[4] The acquisition was assumed to be funded entirely with borrowed funds. Interest expense was computed using assumed borrowings of $54.8 million, which equates to the cash component of the acquisition purchase price, and an interest rate of 1.8%, which equates to the rates applied to incremental borrowings on the revolving bank credit facility.
[5] The change to capitalized interest was computed for the addition to the pool of unevaluated properties and the capitalization interest rate was adjusted for the assumed borrowings. The negative amount represents a decrease to net expenses.
[6] Income tax expense was computed using the 35% federal statutory rate.