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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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| Revenues: | |||
| Oil and condensate sales | $ 247,381gpor_OilAndCondensateSales | $ 224,129gpor_OilAndCondensateSales | $ 242,708gpor_OilAndCondensateSales |
| Gas sales | 329,254gpor_GasSales | 21,015gpor_GasSales | 3,225gpor_GasSales |
| Natural gas liquid sales | 94,127gpor_NaturalGasLiquidsSales | 17,081gpor_NaturalGasLiquidsSales | 2,668gpor_NaturalGasLiquidsSales |
| Other income | 504us-gaap_OtherSalesRevenueNet | 528us-gaap_OtherSalesRevenueNet | 325us-gaap_OtherSalesRevenueNet |
| Total revenues | 671,266us-gaap_Revenues | 262,753us-gaap_Revenues | 248,926us-gaap_Revenues |
| Costs and expenses: | |||
| Lease operating expenses | 52,191us-gaap_LeaseOperatingExpense | 26,703us-gaap_LeaseOperatingExpense | 24,308us-gaap_LeaseOperatingExpense |
| Production taxes | 24,006us-gaap_TaxesExcludingIncomeAndExciseTaxes | 26,933us-gaap_TaxesExcludingIncomeAndExciseTaxes | 28,957us-gaap_TaxesExcludingIncomeAndExciseTaxes |
| Midstream gathering and processing | 64,467us-gaap_GasGatheringTransportationMarketingAndProcessingCosts | 11,030us-gaap_GasGatheringTransportationMarketingAndProcessingCosts | 443us-gaap_GasGatheringTransportationMarketingAndProcessingCosts |
| Depreciation, depletion and amortization | 265,431us-gaap_DepreciationDepletionAndAmortization | 118,880us-gaap_DepreciationDepletionAndAmortization | 90,749us-gaap_DepreciationDepletionAndAmortization |
| General and administrative | 38,290us-gaap_GeneralAndAdministrativeExpense | 22,519us-gaap_GeneralAndAdministrativeExpense | 13,808us-gaap_GeneralAndAdministrativeExpense |
| Accretion expense | 761us-gaap_AssetRetirementObligationAccretionExpense | 717us-gaap_AssetRetirementObligationAccretionExpense | 698us-gaap_AssetRetirementObligationAccretionExpense |
| (Gain) loss on sale of assets | (11)us-gaap_GainLossOnSaleOfOilAndGasProperty | 508us-gaap_GainLossOnSaleOfOilAndGasProperty | (7,300)us-gaap_GainLossOnSaleOfOilAndGasProperty |
| Total costs and expenses | 445,135us-gaap_OperatingExpenses | 207,290us-gaap_OperatingExpenses | 151,663us-gaap_OperatingExpenses |
| INCOME FROM OPERATIONS | 226,131us-gaap_OperatingIncomeLoss | 55,463us-gaap_OperatingIncomeLoss | 97,263us-gaap_OperatingIncomeLoss |
| OTHER (INCOME) EXPENSE: | |||
| Interest expense | 23,986us-gaap_InterestExpense | 17,490us-gaap_InterestExpense | 7,458us-gaap_InterestExpense |
| Interest income | (195)us-gaap_InvestmentIncomeInterest | (297)us-gaap_InvestmentIncomeInterest | (72)us-gaap_InvestmentIncomeInterest |
| Litigation settlement | 25,500us-gaap_LitigationSettlementExpense | 0us-gaap_LitigationSettlementExpense | 0us-gaap_LitigationSettlementExpense |
| Gain on contribution of investments | (84,470)us-gaap_GainLossOnInvestments | 0us-gaap_GainLossOnInvestments | 0us-gaap_GainLossOnInvestments |
| Income from equity method investments | (139,434)us-gaap_IncomeLossFromEquityMethodInvestments | (213,058)us-gaap_IncomeLossFromEquityMethodInvestments | (8,322)us-gaap_IncomeLossFromEquityMethodInvestments |
| Total Other (Income) Expense | (174,613)us-gaap_NonoperatingIncomeExpense | (195,865)us-gaap_NonoperatingIncomeExpense | (936)us-gaap_NonoperatingIncomeExpense |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 400,744us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 251,328us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 98,199us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest |
| INCOME TAX EXPENSE | 153,341us-gaap_IncomeTaxExpenseBenefit | 98,136us-gaap_IncomeTaxExpenseBenefit | 26,363us-gaap_IncomeTaxExpenseBenefit |
| INCOME FROM CONTINUING OPERATIONS | 247,403us-gaap_IncomeLossFromContinuingOperations | 153,192us-gaap_IncomeLossFromContinuingOperations | 71,836us-gaap_IncomeLossFromContinuingOperations |
| Loss on disposal of Belize properties, net of tax | 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax | 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax | 3,465us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax |
| NET INCOME | $ 247,403us-gaap_NetIncomeLoss | $ 153,192us-gaap_NetIncomeLoss | $ 68,371us-gaap_NetIncomeLoss |
| NET INCOME PER COMMON SHARE: | |||
| Basic net income from continuing operations per share (usd per share) | $ 2.90us-gaap_IncomeLossFromContinuingOperationsPerBasicShare | $ 1.98us-gaap_IncomeLossFromContinuingOperationsPerBasicShare | $ 1.28us-gaap_IncomeLossFromContinuingOperationsPerBasicShare |
| Basic net income from discontinued operations, net of tax, per share | $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare | $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare | $ (0.06)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare |
| Basic net income per share | $ 2.90us-gaap_EarningsPerShareBasic | $ 1.98us-gaap_EarningsPerShareBasic | $ 1.22us-gaap_EarningsPerShareBasic |
| Diluted net income from continuing operations per share (usd per share) | $ 2.88us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare | $ 1.97us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare | $ 1.27us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare |
| Diluted net income from discontinued operations, net of tax, per share | $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare | $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare | $ (0.06)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare |
| Diluted net income per share | $ 2.88us-gaap_EarningsPerShareDiluted | $ 1.97us-gaap_EarningsPerShareDiluted | $ 1.21us-gaap_EarningsPerShareDiluted |
| Weighted average common shares outstanding - Basic (shares) | 85,445,963us-gaap_WeightedAverageNumberOfSharesOutstandingBasic | 77,375,683us-gaap_WeightedAverageNumberOfSharesOutstandingBasic | 55,933,354us-gaap_WeightedAverageNumberOfSharesOutstandingBasic |
| Weighted average common shares outstanding-Diluted (shares) | 85,813,182us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding | 77,861,646us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding | 56,417,488us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding |
| X | ||||||||||
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- Definition
Revenue from sale of gas during the period. No definition available.
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| X | ||||||||||
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- Definition
Revenue from the sale of natural gas liquids during the period. No definition available.
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| X | ||||||||||
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- Definition
Revenue from sale of oil during the period. No definition available.
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| X | ||||||||||
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- Definition
Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of gain (loss) on sale or disposal of proven and unproven oil and gas properties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cost incurred related to the gas activities, such as transportation, marketing and processing crude oil, natural gas and refined petroleum products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of lease operating expense related to property used in oil and gas production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of litigation expense, including but not limited to legal, forensic, accounting, and investigative fees. No definition available.
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
Revenues from the sale of other goods or rendering of other services, not elsewhere specified in the taxonomy; net of (reduced by) sales adjustments, returns, allowances, and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
All taxes not related to income of the entity or excise or sales taxes levied on the revenue of the entity that are not reported elsewhere. These taxes could include production, real estate, personal property, and pump tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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