Long-Term Debt - Additional Information (Details) - USD ($)
$ / shares in Units, shares in Millions |
|
1 Months Ended |
3 Months Ended |
4 Months Ended |
12 Months Ended |
16 Months Ended |
|
Sep. 07, 2016 |
May 31, 2015 |
Sep. 30, 2016 |
Dec. 31, 2016 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2017 |
Jun. 30, 2017 |
| Debt Instrument [Line Items] |
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|
|
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|
|
|
| Aggregate annual maturities of long-term debt, 2018 |
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|
|
|
$ 22,900,000
|
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|
$ 22,900,000
|
|
| Aggregate annual maturities of long-term debt, 2019 |
|
|
|
|
302,100,000
|
|
|
302,100,000
|
|
| Aggregate annual maturities of long-term debt, 2020 |
|
|
|
|
499,500,000
|
|
|
499,500,000
|
|
| Aggregate annual maturities of long-term debt, 2021 |
|
|
|
|
171,500,000
|
|
|
171,500,000
|
|
| Debt instrument aggregate principle amount |
|
|
|
$ 873,733,000
|
889,790,000
|
$ 873,733,000
|
|
889,790,000
|
|
| Gain on exchange of debt |
|
|
$ 123,900,000
|
|
$ 7,811,000
|
123,923,000
|
|
|
|
| Credit agreement expiration date |
|
|
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|
Nov. 08, 2018
|
|
|
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| Revolving bank credit facility borrowings outstanding |
|
|
|
|
$ 0
|
|
|
0
|
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| Write-offs of debt issuance costs |
|
|
|
|
|
$ 1,400,000
|
$ 3,200,000
|
|
|
| Revolving Bank Credit Facility |
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| Debt Instrument [Line Items] |
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| Revolving bank credit facility borrowing base |
|
|
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|
$ 150,000,000
|
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|
150,000,000
|
|
| Borrowings and letters of credit, repayment terms |
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To the extent borrowings and letters of credit outstanding exceed the redetermined borrowing base, such excess or deficiency is required to be repaid within 90 days in three equal monthly payments.
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| Revolving bank credit facility maximum lender commitment |
|
|
|
|
$ 150,000,000
|
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|
150,000,000
|
|
| Percentage of hedging contracts |
|
|
|
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|
75.00%
|
|
|
|
| Debt redemption amount |
|
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|
35,000,000
|
|
$ 35,000,000
|
|
|
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| Letter of credit maximum amount outstanding prior to repurchase of term loan |
|
|
|
5,000,000
|
|
5,000,000
|
|
|
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| Consolidated Cash balance |
|
|
|
35,000,000
|
|
35,000,000
|
|
|
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| First lien leverage ratio |
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|
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|
200.00%
|
|
|
|
|
| Current ratio |
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|
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|
280.00%
|
|
|
|
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| Revolving bank credit facility borrowings outstanding |
|
|
|
0
|
$ 0
|
0
|
|
0
|
|
| Outstanding balances on the revolving bank credit facility (including letters of credit) |
|
|
|
|
$ 5,000,000
|
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|
5,000,000
|
|
| Revolving bank credit facility interest rate description |
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Borrowings under the revolving bank credit facility bear interest at the applicable London Interbank Offered Rate (“LIBOR”) plus a margin that varies from 3.00% to 4.00% depending on the level of total borrowings under the Credit Agreement, or an alternative base rate equal to the greater of (a) Prime Rate, (b) Federal Funds Rate plus 0.50%, or (c) LIBOR plus 1.0%, plus applicable margin ranging from 2.00% to 3.00%.
|
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|
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| Unused portion of the borrowing base commitment fee |
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|
0.50%
|
|
|
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| Write-offs of debt issuance costs |
|
|
|
|
|
1,400,000
|
$ 3,200,000
|
|
|
| Letters of credit outstanding |
|
|
|
500,000
|
$ 300,000
|
500,000
|
|
300,000
|
|
| Revolving Bank Credit Facility | London Interbank Offered Rate (LIBOR) |
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| Debt Instrument [Line Items] |
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| Debt instrument, basis spread on variable rate |
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1.00%
|
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| Revolving Bank Credit Facility | Federal Funds Effective Swap Rate |
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| Debt Instrument [Line Items] |
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|
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|
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| Debt instrument, basis spread on variable rate |
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0.50%
|
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| Revolving Bank Credit Facility | Scenario Covenants |
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| Debt Instrument [Line Items] |
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| Maximum unrestricted cash balance if revolver balance is above $5 million |
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|
$ 35,000,000
|
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|
35,000,000
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| Minimum | Revolving Bank Credit Facility |
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| Debt Instrument [Line Items] |
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| Current ratio |
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100.00%
|
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| Minimum | Revolving Bank Credit Facility | London Interbank Offered Rate (LIBOR) |
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| Debt Instrument [Line Items] |
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|
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| Debt instrument, basis spread on variable rate |
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|
3.00%
|
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| Minimum | Revolving Bank Credit Facility | London Interbank Offered Rate Additional Applicable Margin |
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| Debt Instrument [Line Items] |
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|
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|
|
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| Debt instrument, basis spread on variable rate |
|
|
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|
2.00%
|
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|
| Maximum | Revolving Bank Credit Facility | London Interbank Offered Rate (LIBOR) |
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|
|
|
|
|
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| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
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| Debt instrument, basis spread on variable rate |
|
|
|
|
4.00%
|
|
|
|
|
| Maximum | Revolving Bank Credit Facility | London Interbank Offered Rate Additional Applicable Margin |
|
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|
|
|
|
|
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| Debt Instrument [Line Items] |
|
|
|
|
|
|
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| Debt instrument, basis spread on variable rate |
|
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|
3.00%
|
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|
| 9.00%/10.75% Second Lien PIK Toggle Notes, Due May 2020 |
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| Debt Instrument [Line Items] |
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| Debt instrument aggregate principle amount |
|
|
|
$ 163,007,000
|
$ 171,769,000
|
$ 163,007,000
|
|
$ 171,769,000
|
|
| Debt instrument maturity date |
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|
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|
May 15, 2020
|
May 15, 2020
|
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| Debt instrument interest rate |
9.00%
|
|
|
9.00%
|
9.00%
|
9.00%
|
|
9.00%
|
|
| Debt instrument paid in kind interest rate |
|
|
|
10.75%
|
10.75%
|
10.75%
|
|
10.75%
|
|
| Debt instrument payment terms |
|
|
|
|
Cash interest accrues at 9.00% per annum and is payable on May 15 and November 15 of each year. The Second Lien PIK Toggle Notes contain payment-in-kind interest provisions, where certain semi-annual interest is added to the principal amount instead of being paid in cash in the then current semi-annual period. This payment-in-kind provision expires on March 7, 2018. For the initial interest payment on November 15, 2016, interest could only be paid-in-kind at 10.75% per annum.
|
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| Debt instrument stated interest rate percentage for payment-in-kind |
|
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|
10.75%
|
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|
10.75%
|
|
| 9.00%/10.75% Second Lien PIK Toggle Notes, Due May 2020 | Minimum |
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|
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| Debt Instrument [Line Items] |
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|
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| Cash interest payable stub period |
|
|
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|
Mar. 07, 2018
|
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| 9.00%/10.75% Second Lien PIK Toggle Notes, Due May 2020 | Maximum |
|
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|
|
|
|
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|
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| Debt Instrument [Line Items] |
|
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|
|
|
|
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| Cash interest payable stub period |
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|
May 15, 2018
|
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| 8.50%/10.00% Third Lien PIK Toggle Notes, Due June 2021 |
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| Debt Instrument [Line Items] |
|
|
|
|
|
|
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|
| Debt instrument aggregate principle amount |
|
|
|
$ 145,897,000
|
$ 153,192,000
|
$ 145,897,000
|
|
$ 153,192,000
|
|
| Debt instrument maturity date |
|
|
|
|
Jun. 15, 2021
|
Jun. 15, 2021
|
|
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|
| Debt instrument interest rate |
8.50%
|
|
|
8.50%
|
8.50%
|
8.50%
|
|
8.50%
|
|
| Debt instrument paid in kind interest rate |
|
|
|
10.00%
|
10.00%
|
10.00%
|
|
10.00%
|
|
| Debt instrument payment terms |
|
|
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|
The maturity date will accelerate to February 28, 2019 if the remaining Unsecured Senior Notes have not been extended, renewed, refunded, defeased, discharged, replaced or refinanced by February 28, 2019. Certain amendments under the 1.5 Lien Term Loan and the Credit Agreement will likely be required in the event replacement financing is not utilized. Cash interest accrues at 8.50% per annum and is payable on June 15 and December 15 of each year. The Third Lien PIK Toggle Notes contain PIK interest provisions, where certain semi-annual interest is added to the principal amount instead of being paid in cash in the then current semi-annual period. This payment-in-kind provision expires on September 7, 2018. For the initial interest payment on December 15, 2016, interest could only be paid-in-kind at 10.00% per annum. For the six month interest period ending June 15, 2017, we paid the interest payment in cash rather than using the payment-in-kind provision. For the six-month period ended November 15, 2017, we exercised the payment-in-kind provision. For the six-month period ended June 15, 2018, we have exercised the payment-in-kind provision. When the PIK option is utilized, the principal amount of the notes increases.
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| Debt instrument stated interest rate percentage for payment-in-kind |
10.00%
|
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| 11.00% 1.5 Lien Term Loan, Due November 2019 |
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| Debt Instrument [Line Items] |
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| Debt instrument aggregate principle amount |
|
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|
$ 75,000,000
|
$ 75,000,000
|
$ 75,000,000
|
|
$ 75,000,000
|
|
| Debt instrument maturity date |
|
|
|
|
Nov. 15, 2019
|
Nov. 15, 2019
|
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| Debt instrument interest rate |
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|
11.00%
|
11.00%
|
11.00%
|
|
11.00%
|
|
| Second Lien PIK Toggle Notes and the Third Lien PIK Toggle Notes |
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| Debt Instrument [Line Items] |
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| Net reduction to long term debt |
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|
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|
$ 8,200,000
|
| 11.00% 1.5 Lien Term Loan, Due November 2019 |
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| Debt Instrument [Line Items] |
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| Debt instrument maturity date |
Nov. 15, 2019
|
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| Debt instrument interest rate |
11.00%
|
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| Debt instrument, maturity date, description |
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1.5 Lien Term Loan on September 7, 2016 with a maturity date of November 15, 2019. The maturity date will accelerate to February 28, 2019 if the remaining Unsecured Senior Notes have not been extended, renewed, refunded, defeased, discharged, replaced or refinanced by February 28, 2019.
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| Debt instrument payment terms |
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Interest accrues at 11.00% per annum and is payable quarterly in cash.
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| Debt instrument frequency of interest payment in cash |
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|
quarterly
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| 9.00 % Second Lien Term Loan, Due May 2020 |
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| Debt Instrument [Line Items] |
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| Debt instrument aggregate principle amount |
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|
$ 300,000,000
|
$ 300,000,000
|
$ 300,000,000
|
|
$ 300,000,000
|
|
| Debt instrument maturity date |
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|
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|
May 15, 2020
|
May 15, 2020
|
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| Debt instrument interest rate |
|
9.00%
|
|
9.00%
|
9.00%
|
9.00%
|
|
9.00%
|
|
| Debt instrument payment terms |
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|
Interest on the Second Lien Term Loan is payable in arrears semi-annually on May 15 and November 15
|
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| Debt instrument discount rate |
|
1.00%
|
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| Effective interest rate |
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|
9.60%
|
|
|
9.60%
|
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| 8.50% Unsecured Senior Notes, Due June 2019 |
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| Debt Instrument [Line Items] |
|
|
|
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|
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| Debt instrument aggregate principle amount |
|
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|
$ 189,829,000
|
$ 189,829,000
|
$ 189,829,000
|
|
$ 189,829,000
|
|
| Debt instrument maturity date |
|
|
|
|
Jun. 15, 2019
|
Jun. 15, 2019
|
|
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|
| Debt instrument interest rate |
|
|
|
8.50%
|
8.50%
|
8.50%
|
|
8.50%
|
|
| Debt instrument payment terms |
|
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|
semi-annually in arrears on June 15 and December 15
|
|
|
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| Effective interest rate |
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|
8.30%
|
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|
8.30%
|
|
| Exchange Transaction |
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| Debt Instrument [Line Items] |
|
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|
|
|
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| Gain on exchange of debt |
|
|
|
|
|
$ 123,900,000
|
|
|
|
| Deal transaction costs |
$ 18,900,000
|
|
|
|
|
|
|
|
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| Common stock issued value per share |
$ 1.76
|
|
|
|
|
|
|
|
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| Basic and diluted income (loss) per common share |
|
|
|
|
$ 0.06
|
$ 1.30
|
|
|
|
| Additional expense charged to gain on exchange of debt |
|
|
|
|
$ 400,000
|
|
|
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|
| Exchange Transaction | Common Stock |
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| Debt Instrument [Line Items] |
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| Debt conversion, common stock shares issued |
60.4
|
|
60.4
|
|
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|
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| Exchange Transaction | 9.00%/10.75% Second Lien PIK Toggle Notes, Due May 2020 |
|
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|
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|
|
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| Debt Instrument [Line Items] |
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|
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| Debt instrument aggregate principle amount |
$ 159,800,000
|
|
|
|
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|
|
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| Debt instrument maturity date |
|
|
|
|
May 15, 2020
|
|
|
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| Exchange Transaction | 9.00%/10.75% Second Lien PIK Toggle Notes, Due May 2020 | Minimum |
|
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|
|
|
|
|
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| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
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| Debt instrument interest rate |
9.00%
|
|
|
|
|
|
|
|
|
| Exchange Transaction | 9.00%/10.75% Second Lien PIK Toggle Notes, Due May 2020 | Maximum |
|
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|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
| Debt instrument paid in kind interest rate |
10.75%
|
|
|
|
|
|
|
|
|
| Exchange Transaction | 8.50%/10.00% Third Lien PIK Toggle Notes, Due June 2021 |
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
| Debt instrument aggregate principle amount |
$ 142,000,000
|
|
|
|
|
|
|
|
|
| Debt instrument maturity date |
|
|
|
|
|
Jun. 15, 2021
|
|
|
|
| Exchange Transaction | 8.50%/10.00% Third Lien PIK Toggle Notes, Due June 2021 | Minimum |
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
| Debt instrument interest rate |
8.50%
|
|
|
|
|
|
|
|
|
| Exchange Transaction | 8.50%/10.00% Third Lien PIK Toggle Notes, Due June 2021 | Maximum |
|
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|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
| Debt instrument paid in kind interest rate |
10.00%
|
|
|
|
|
|
|
|
|
| Exchange Transaction | 11.00% 1.5 Lien Term Loan, Due November 2019 |
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
| Debt instrument aggregate principle amount |
$ 75,000,000
|
|
|
|
|
|
|
|
|
| Debt instrument maturity date |
|
|
|
|
|
Nov. 30, 2019
|
|
|
|
| Debt instrument interest rate |
11.00%
|
|
|
|
|
|
|
|
|
| Exchange Transaction | 1.5 Lien Term Loan |
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
| Interest expense recorded for new debt |
|
|
|
$ 0
|
|
|
|
$ 0
|
|
| Exchange Transaction | 8.50% Unsecured Senior Notes, Due June 2019 |
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
| Debt instrument aggregate principle amount |
$ 710,200,000
|
|
|
|
|
|
|
|
|
| Percentage of unsecured senior notes exchanged |
79.00%
|
|
|
|
|
|
|
|
|
| Debt instrument maturity date |
|
|
|
|
Jun. 15, 2019
|
|
|
|
|
| Exchange Transaction | 8.50% Unsecured Senior Notes, Due June 2019 | Common Stock |
|
|
|
|
|
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
|
|
|
|
|
| Debt conversion, common stock shares issued |
60.4
|
|
|
|
|
|
|
|
|