Annual report pursuant to Section 13 and 15(d)

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 ($)
 3 Months Ended 7 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Business Acquisition [Line Items]                        
Revenues $ 115,213,000 $ 107,403,000 $ 99,655,000 $ 77,715,000 $ 104,064,000 $ 126,228,000 $ 149,066,000 $ 127,907,000   $ 399,986,000 $ 507,265,000 $ 948,708,000
DD&A                   211,609,000 394,071,000 511,102,000
G&A                   59,740,000 73,110,000 86,999,000
Interest expense                   92,791,000 104,592,000 86,922,000
Income tax expense                   $ (43,376,000) (202,984,000) (4,459,000)
Woodside Properties                        
Business Acquisition [Line Items]                        
Revenues                 $ 28,400,000   24,400,000  
Direct operating expenses                 5,500,000   9,500,000  
DD&A                 11,000,000   14,400,000  
Income tax expense                 $ 4,200,000   $ 0  
Woodside Properties | Pro Forma                        
Business Acquisition [Line Items]                        
Revenues [1],[2]                       22,887,000
Direct operating expenses [1],[2]                       4,417,000
DD&A [2],[3]                       8,385,000
G&A [2],[4]                       300,000
Interest expense [2],[5]                       330,000
Capitalized interest [2],[6]                       (19,000)
Income tax expense [2],[7]                       $ 3,316,000
[1] Revenues and direct operating expenses for the Woodside Properties were derived from the historical financial records of Woodside.
[2] The adjustments for 2014 are for the period from January 1, 2014 to May 20, 2014.
[3] 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.
[4] Estimated insurance costs related to the Woodside Properties.
[5] The acquisition was assumed to be funded entirely with borrowed funds. Interest expense was computed using assumed borrowings of $55.0 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.
[6] 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.
[7] Income tax expense was computed using the 35% federal statutory rate.