View Filing Data

Senior subordinated notes

2,852,860

2,851,754

48,607

48,585

Deferred tax liabilities

736,054

693,356

Derivative liabilities

3,835

9,789

Deferred compensation liabilities

101,334

101,102

Asset retirement obligations and other liabilities

293,813

286,043

Total liabilities

5,895,576

5,954,569

Commitments and contingencies

Stockholders’ Equity

Preferred stock, $1 par, 10,000,000 shares authorized, none issued and outstanding

Common stock, $0.01 par, 475,000,000 shares authorized, 249,236,392 issued at March 31, 2018 and 248,144,397 issued at December 31, 2017

2,492

2,481

Common stock held in treasury, 14,072 shares at March 31, 2018 and 14,967 shares at December 31, 2017

(569)

(599)

Additional paid-in capital

5,593,675

5,577,732

Accumulated other comprehensive loss

(1,263)

(1,332)

Retained earnings

240,257

195,990

Total stockholders’ equity

5,834,592

5,774,272

Total liabilities and stockholders’ equity

$ 11,730,168

$ 11,728,841

[1]	Includes capitalized asset retirement costs and the associated accumulated amortization.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts on accounts receivable	$ 7,112	$ 7,111
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	475,000,000	475,000,000
Common stock, shares issued	249,236,392	248,144,397
Common stock held in treasury, shares	14,072	14,967

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues and other income:
Natural gas, NGLs and oil sales	$ 696,629,000	$ 559,450,000
Derivative fair value (loss) income	(14,009,000)	165,557,000
Brokered natural gas, marketing and other	59,979,000	51,648,000
Total revenues and other income	742,599,000	776,655,000
Costs and expenses:
Direct operating	38,122,000	28,023,000
Transportation, gathering, processing and compression	244,628,000	177,648,000
Production and ad valorem taxes	9,926,000	9,163,000
Brokered natural gas and marketing	55,594,000	53,550,000
Exploration	7,719,000	8,504,000
Abandonment and impairment of unproved properties	11,773,000	4,420,000
General and administrative	68,417,000	47,496,000
Termination costs	(37,000)	4,192,000
Deferred compensation plan	(7,397,000)	(13,169,000)
Interest	52,385,000	47,101,000
Depletion, depreciation and amortization	162,266,000	149,821,000
Impairment of proved properties	7,312,000	0
Gain on the sale of assets	(23,000)	(22,600,000)
Total costs and expenses	650,685,000	494,149,000
Income before income taxes	91,914,000	282,506,000
Income tax expense:
Current	0	0
Deferred	42,676,000	112,395,000
Total (benefit) expense for income taxes	42,676,000	112,395,000
Net income	$ 49,238,000	$ 170,111,000
Net income per common share:
Basic	$ 0.20	$ 0.69
Diluted	0.20	0.69
Dividends paid per common share	$ 0.02	$ 0.02
Weighted average common shares outstanding:
Basic	245,709	244,652
Diluted	246,594	244,803

STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 49,238	$ 170,111
Postretirement benefits:
Prior service cost	92	0
Income tax benefit	(23)	0
Total comprehensive income	$ 49,307	$ 170,111

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities:
Net income	$ 49,238,000	$ 170,111,000
Adjustments to reconcile net income to net cash provided from operating activities:
Deferred income tax expense	42,676,000	112,395,000
Depletion, depreciation and amortization and impairment	169,578,000	149,821,000
Exploration dry hole costs	2,000	0
Abandonment and impairment of unproved properties	11,773,000	4,420,000
Derivative fair value loss (income)	14,009,000	(165,557,000)
Cash settlements on derivative financial instruments	8,925,000	(4,181,000)
Amortization of deferred financing costs and other	1,312,000	1,310,000
Deferred and stock-based compensation	18,527,000	962,000
Gain on the sale of assets	(23,000)	(22,600,000)
Changes in working capital:
Accounts receivable	53,913,000	(4,690,000)
Inventory and other	(5,294,000)	2,868,000
Accounts payable	47,453,000	24,384,000
Accrued liabilities and other	(41,517,000)	(43,381,000)
Net cash provided from operating activities	370,572,000	225,862,000
Investing activities:
Additions to natural gas and oil properties	(308,641,000)	(186,727,000)
Additions to field service assets	(239,000)	(1,565,000)
Acreage purchases	(25,355,000)	(28,725,000)
Proceeds from disposal of assets	40,000	26,053,000
Purchases of marketable securities held by the deferred compensation plan	(13,153,000)	(12,388,000)
Proceeds from the sales of marketable securities held by the deferred compensation plan	11,928,000	10,231,000
Net cash used in investing activities	(335,420,000)	(193,121,000)
Financing activities:
Borrowings on credit facilities	528,000,000	448,000,000
Repayments on credit facilities	(557,000,000)	(484,000,000)
Repayment of senior notes	0	(500,000)
Dividends paid	(4,971,000)	(4,951,000)
Taxes paid for shares withheld	(2,659,000)	(5,879,000)
Change in cash overdrafts	922,000	11,803,000
Proceeds from the sales of common stock held by the deferred compensation plan	635,000	3,017,000
Net cash used in financing activities	(35,073,000)	(32,510,000)
Increase in cash and cash equivalents	79,000	231,000
Cash and cash equivalents at beginning of period	448,000	314,000
Cash and cash equivalents at end of period	$ 527,000	$ 545,000

Summary of Organization and Nature of Business	3 Months Ended
Summary of Organization and Nature of Business	Mar. 31, 2018
Industry Specific Policies [Abstract]
Summary of Organization and Nature of Business	(1) SUMMARY OF ORGANIZATION AND NATURE OF BUSINESS Range Resources Corporation is a Fort Worth, Texas-based independent natural gas, natural gas liquids (“NGLs”) and oil company primarily engaged in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and the North Louisiana regions of the United States. Our objective is to build stockholder value through consistent returns-focused on growth, on a per share debt-adjusted basis, of both reserves and production on a cost-efficient basis. Range is a Delaware corporation with our common stock listed and traded on the New York Stock Exchange under the symbol “RRC”.

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	(2) BASIS OF PRESENTATION These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Range Resources Corporation 2017 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2018. The results of operations for the first quarter ended March 31, 2018 are not necessarily indicative of the results to be expected for the full year. These consolidated financial statements are unaudited but, in the opinion of management, reflect all adjustments necessary for fair presentation of the results for the periods presented. All adjustments are of a normal recurring nature unless otherwise disclosed. These consolidated financial statements, including selected notes, have been prepared in accordance with the applicable rules of the SEC and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements. Inventory. As of March 31, 2018, we had $9.9 million of material and supplies inventory compared to $12.1 million at December 31, 2017. Material and supplies inventory consists of primarily tubular goods and equipment used in our operations and is stated at lower of specific cost of each inventory item or net realized value, on a first-in, first-out basis. At March 31, 2018, we also had commodity inventory of $5.8 million compared to $508,000 at December 31, 2017. Commodity inventory as of March 31, 2018 consists of natural gas and NGLs held in storage or as line fill in pipelines. Unproved Properties. Impairment of a significant portion of our unproved properties is assessed and amortized on an aggregate basis based on our average holding period, expected forfeiture rate and anticipated drilling success. In certain circumstances, our future plans to develop acreage may accelerate our impairment.

New Accounting Standards

3 Months Ended

Mar. 31, 2018

New Accounting Pronouncements And Changes In Accounting Principles [Abstract]

New Accounting Standards

(3) NEW ACCOUNTING STANDARDS

Not Yet Adopted

In February 2016, an accounting standards update was issued that requires an entity to recognize a right-of-use asset and lease liability for all leases with terms of more than twelve months. Classification of leases as either a finance or operating lease will determine the recognition, measurement and presentation of expenses. This accounting standards update also requires certain quantitative and qualitative disclosures about leasing arrangements. This standard is effective for us in first quarter 2019 and will be applied using a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements and early adoption is permitted. We do not plan to early adopt this new standard. This standard does not apply to leases to explore for or use minerals, oil or natural gas resources, including the right to explore for those natural resources and rights to use the land in which those natural resources are contained. We are evaluating each of our lease arrangements but have not determined the aggregate amount of change. We are currently enhancing our systems to track and calculate additional information necessary for adoption of this standard. We are evaluating the provisions of this accounting standards update and assessing the impact it will have on our consolidated results of operations, financial position or cash flows. We believe this new guidance will likely increase our recorded assets and liabilities that are not currently recognized under currently applicable guidance.

In June 2016, an accounting standards update was issued that changes the impairment model for trade receivables, net investments in leases, debt securities, loans and certain other instruments. The standards update requires the use of a forward-looking “expected loss” model as opposed to the current “incurred loss” model. This standards update is effective for us in first quarter 2020 and should be adopted on a modified retrospective basis though a cumulative-effect adjustment to retained earnings as of the beginning of the adoption period. Early adoption is permitted starting January 2019. We are evaluating the provisions of this accounting standards update and assessing the impact, if any, it may have on our consolidated results of operations, financial position or cash flows.

Recently Adopted

In March 2017, an accounting standards update was issued which provides additional guidance on the presentation of net benefit cost in the statement of operations. Employers will present the service cost component of net periodic benefit cost in the same consolidated results of operations line item as other employee compensation costs arising from services rendered during the period. This new standards update is effective for annual reporting periods in first quarter 2018 and must be applied retrospectively. We adopted this standards update in first quarter 2018. The adoption did not impact our consolidated results of operations, financial position, cash flows or disclosures. We had no service cost recorded prior to 2018 due to the implementation of our postretirement benefit plan at the end of 2017. In 2018, our service cost is recorded in general and administrative expense.

In May 2017, an accounting standards update was issued which clarifies what constitutes a modification of a share-based award. This standards update is intended to provide clarity and reduce both diversity in practice and cost and complexity to a change to the terms or conditions of a share-based payment award. We adopted this standards update in first quarter 2018. The adoption of this standard did not have a material impact on our financial position or consolidated results of operations.

In May 2014, an accounting standards update was issued that superseded the existing revenue recognition requirements. This standard included a five-step revenue recognition model to depict the transfer of goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Among other things, the standard also eliminated industry-specific revenue guidance, required enhanced disclosures about revenue, provided guidance for transactions that were not previously addressed comprehensively and improved guidance for multiple-element arrangements. This standard was effective for us in first quarter 2018 and we adopted the new standard using the modified retrospective method. We utilized a bottom-up approach to analyze the impact of the new standard by reviewing our current accounting policies and practices to identify potential differences that would result from applying the requirements of the new standard to our revenue contracts and the impact of adopting this standards update on our total revenues, operating income and our consolidated balance sheet. Our implementation of this standard did not result in a cumulative-effect adjustment on date of adoption; however, our financial statement presentation related to revenue received from certain gas processing contracts changed. Based on previous accounting guidance, certain of our gas processing contracts were reported in revenue at the net price (net of processing costs) we receive. Upon adoption of this accounting standards update, these contracts are now reported as a gross price received at a delivery point and separate transportation, marketing and processing expense. The impact of adoption of the new revenue recognition standard on our current period results is as follows (in thousands):

	Three Months Ended March 31, 2018
	As Reported				Previous Revenue Recognition Method
		$		$ Per mcfe		$		$ Per mcfe		Increase		$ Per mcfe
Revenues:
Natural gas, NGLs and oil sales	$	696,629	$	3.53	$	658,802	$	3.34	$	37,827	$	0.19
Costs and expenses:
Transportation, gathering, processing and compression	$	244,628	$	1.24	$	206,801	$	1.05	$	37,827	$	0.19
Net income	$	49,238			$	49,238			$	—

Changes to natural gas, NGLs and oil sales and transportation, gathering, processing, and compression expenses is due to the conclusion that we represent the role of principal in a certain gas processing and marketing agreement with a midstream entity in accordance with the new accounting standard. This represents a change from our previous conclusion utilizing the principal versus agent indication that we acted as the agent in that agreement. As a result, we were required to modify our presentation to present revenue on a gross basis for amounts expected to be received from third-party customers through the marketing process, with expenses incurred prior to control of the products transferring to the midstream entity at the tailgate of the plant presented as transportation, gathering, processing and compression expense.

In January 2017, an accounting standards update was issued that eliminates the requirements to calculate the implied fair value of goodwill to measure goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. This standard is effective for annual periods beginning after December 15, 2019 and should be applied on a prospective basis. Early adoption is permitted for any goodwill impairment tests performed in first quarter 2017 or later. We elected to adopt this accounting standards update in first quarter 2017. The adoption did not have a significant impact on our consolidated results of operations, financial position, cash flows or disclosures; however, this standard did change our policy for our annual goodwill impairment assessment by eliminating the requirement to calculate the implied fair value of goodwill.

In July 2015, an accounting standards update was issued that requires an entity to measure inventory at the lower of cost or net realizable value. This excludes inventory measured using LIFO or the retail inventory method. This standard was effective for us in first quarter 2017 and was applied prospectively. Adoption of this standard did not have an impact on our consolidated results of operations, financial position or cash flows.

In August 2016, an accounting standards update was issued that clarifies how entities classify certain cash receipts and cash payments on the statement of cash flows. The guidance is effective for us in first quarter 2018 and should be applied retrospectively with early adoption permitted. We adopted this new standard in fourth quarter 2017 on a retrospective basis. Adoption of this standard did not have an impact on our consolidated cash flow statement presentation.

In January 2017, an accounting standards update was issued which clarifies the definition of a business. This new standard is effective for us in first quarter 2018 with early adoption permitted. We adopted this new standard in fourth quarter 2017. Adoption of this standard did not have a significant impact on our consolidated results of operations, financial position or cash flows.

Dispositions	3 Months Ended
Dispositions	Mar. 31, 2018
Business Combinations [Abstract]
Dispositions	(4) DISPOSITIONS We recognized a pretax net gain on the sale of assets of $23,000 in first quarter 2018 compared to a pretax net gain of $22.6 million in the same period of the prior year. 2018 Dispositions Other. In first quarter 2018, we sold miscellaneous inventory and other assets for proceeds of $40,000 resulting in a pretax gain of $23,000. 2017 Dispositions Western Oklahoma. In first quarter 2017, we sold properties in Western Oklahoma for proceeds of $26.0 million and we recorded a gain of $22.5 million related to this sale, after closing adjustments and transaction fees. Other. In first quarter 2017, we sold miscellaneous proved and unproved properties, inventory, other assets and surface acreage for proceeds of $53,000 resulting in a pretax gain of $69,000.

Goodwill	3 Months Ended
Goodwill	Mar. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	(5) GOODWILL During 2016, we recorded goodwill associated with the acquisition of Memorial Resource Development Corp. (the “MRD Merger”), which represented the cost of the acquired entity over the net amounts assigned to assets acquired and liabilities assumed. Goodwill is assessed for impairment whenever events or circumstances indicate that impairment of the carrying value of goodwill is likely, but no less often than annually. During fourth quarter 2017, we performed our annual qualitative assessment of goodwill to determine whether it was more likely than not that the fair value of our business (our reporting unit) was less than its carrying amount. Based on the results of this assessment, we determined it was not likely that goodwill was impaired. We are not aware of any events or circumstances that occurred during first quarter 2018 that would have more likely than not reduced the fair value of our reporting unit below its carrying value.

Income Taxes

3 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

(6) INCOME TAXES

Income tax expense was as follows (in thousands):

		Three Months Ended March 31,
		2018			2017
Income tax expense	$	42,676		$	112,395
Effective tax rate		46.4	%		39.8	%

We compute our quarterly taxes under the effective tax rate method based on applying an anticipated annual effective rate to our year-to-date income, except for discrete items. Income taxes for discrete items are computed and recorded in the period that the specific transaction occurs. For first quarter ended March 31, 2018 and 2017, our overall effective tax rate was different than the federal statutory rate due primarily to state income taxes (including adjustments to state income tax valuation allowances), equity compensation and other tax items which are detailed below (in thousands).

		Three Months Ended March 31,
		2018			2017
Total income before income taxes	$	91,914		$	282,506
U.S. federal statutory rate		21	%		35	%
Total tax expense at statutory rate		19,302			98,877

State and local income taxes, net of federal benefit		4,494			8,982
Non-deductible executive compensation		262			140
Tax less than book equity compensation		664			2,524
Change in valuation allowances:
Federal net operating loss carryforwards & other		—			856
State net operating loss carryforwards & other		15,678			2,086
Rabbi trust and other		1,381			(1,122	)
Permanent differences and other		895			52
Total expense for income taxes	$	42,676		$	112,395
Effective tax rate		46.4	%		39.8	%

On December 22, 2017, the Tax Cuts and Jobs Act of 2017 was signed into law. The law significantly reformed the Internal Revenue Code of 1986, as amended. The reduction in the corporate tax rate required a one-time revaluation of certain tax related assets and liabilities to reflect their value at the lower corporate tax rate of 21%. Due to the complexities involved in the accounting for the enactment of the new law, the SEC Staff Accounting Bulletin (“SAB”) 118 allowed a provisional estimate for the year ended December 31, 2017, which we made. As of March 31, 2018, we have not made any material adjustments to our provisional estimate at year-end 2017. We have made a reasonable estimate of the effect on our deferred tax balances. We will continue to analyze the impact of the new law and additional impacts will be recorded as they are identified during the measurement period provided for in SAB 118.

Income Per Common Share

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Income Per Common Share

(7) INCOME PER COMMON SHARE

Basic income or loss per share attributable to common shareholders is computed as (1) income or loss attributable to common shareholders (2) less income allocable to participating securities (3) divided by weighted average basic shares outstanding. Diluted income or loss per share attributable to common shareholders is computed as (1) basic income or loss attributable to common shareholders (2) plus diluted adjustments to income allocable to participating securities (3) divided by weighted average diluted shares outstanding. The following tables set forth a reconciliation of income or loss attributable to common shareholders to basic income or loss attributable to common shareholders to diluted income or loss attributable to common shareholders (in thousands except per share amounts):

		Three Months Ended March 31,
		2018			2017
Net income, as reported	$	49,238		$	170,111
Participating earnings ^(a)		(568	)		(1,882	)
Basic net income attributed to common shareholders		48,670			168,229
Reallocation of participating earnings ^(a)		2			1
Diluted net income attributed to common shareholders	$	48,672		$	168,230
Net income per common share:
Basic	$	0.20		$	0.69
Diluted	$	0.20		$	0.69

^(a)

Restricted Stock Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses.

The following table provides a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands):

	Three Months Ended March 31,
	2018	2017
Weighted average common shares outstanding-basic	245,709	244,652
Effect of dilutive securities:
Director and employee restricted stock and performance-based equity awards	885	151
Weighted average common shares outstanding-diluted	246,594	244,803

Weighted average common shares outstanding–basic for first quarter 2018 excludes 2.9 million shares of restricted stock held in our deferred compensation plan compared to 2.7 million shares in first quarter 2017 (although all awards are issued and outstanding upon grant). For first quarter 2018, equity grants of 1.5 million were outstanding but not included in the computation of diluted net income per share because the grant prices were greater than the average market price of the common shares and would be anti-dilutive to the computations. For first quarter 2017, equity grants of 1.6 million were outstanding but not included in the computation of diluted net income per share because the grant prices were greater than the average market price of our common shares and would be anti-dilutive to the computations. For purposes of calculating diluted weighted average common shares, non-vested restricted stock and performance based equity awards are included in the computation using the treasury stock method with the deemed proceeds equal to the average unrecognized compensation during the period.

Suspended Exploratory Well Costs	3 Months Ended
Suspended Exploratory Well Costs	Mar. 31, 2018
Extractive Industries [Abstract]
Suspended Exploratory Well Costs	(8) SUSPENDED EXPLORATORY WELL COSTS We capitalize exploratory well costs until a determination is made that the well has either found proved reserves or that it is impaired. Capitalized exploratory well costs are included in natural gas and oil properties in the accompanying consolidated balance sheets. If an exploratory well is determined to be impaired, the well costs are charged to exploration expense in the accompanying consolidated statements of operations. We do not have any suspended exploratory well costs as of March 31, 2018 or December 31, 2017.

Indebtedness

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Indebtedness

(9) INDEBTEDNESS

We had the following debt outstanding as of the dates shown below (bank debt interest rate at March 31, 2018 is shown parenthetically). No interest was capitalized during the three months ended March 31, 2018 or the year ended December 31, 2017 (in thousands).


		March 31, 2018			December 31, 2017
Bank debt (3.4%)	$	1,182,000		$	1,211,000
Senior notes:
4.875% senior notes due 2025		750,000			750,000
5.00% senior notes due 2023		741,531			741,531
5.00% senior notes due 2022		580,032			580,032
5.75% senior notes due 2021		475,952			475,952
5.875% senior notes due 2022		329,244			329,244
Other senior notes due 2022		590			590
Total senior notes		2,877,349			2,877,349
Senior subordinated notes:
5.00% senior subordinated notes due 2023		7,712			7,712
5.00% senior subordinated notes due 2022		19,054			19,054
5.75% senior subordinated notes due 2021		22,214			22,214
Total senior subordinated notes		48,980			48,980
Total debt		4,108,329			4,137,329
Unamortized premium		5,712			6,027
Unamortized debt issuance costs		(32,347	)		(34,550	)
Total debt net of debt issuance costs	$	4,081,694		$	4,108,806

Bank Debt

In October 2014, we entered into an amended and restated revolving bank facility, which we refer to as our bank debt or our bank credit facility, which is secured by substantially all of our assets and had a maturity date of October 16, 2019. The bank credit facility provides for a maximum facility amount of $4.0 billion. The bank credit facility provides for a borrowing base subject to redeterminations annually by May and for event-driven unscheduled redeterminations. As part of our annual redetermination completed on March 21, 2017, our borrowing base was reaffirmed at $3.0 billion and our bank commitment was also reaffirmed at $2.0 billion. As of March 31, 2018, our bank group was composed of twenty-nine financial institutions with no one bank holding more than 5.8% of the total facility. The borrowing base may be increased or decreased based on our request and sufficient proved reserves, as determined by the bank group. The commitment amount may be increased to the borrowing base, subject to payment of a mutually acceptable commitment fee to those banks agreeing to participate in the facility increase. As of March 31, 2018, the outstanding balance under our bank credit facility was $1.2 billion, before deducting debt issuance costs. Additionally, we had $281.4 million of undrawn letters of credit leaving $536.6 million of committed borrowing capacity available under the facility. During a non-investment grade period, borrowings under the bank credit facility can either be at the alternate base rate (“ABR,” as defined in the bank credit facility agreement) plus a spread ranging from 0.25% to 1.25% or LIBOR borrowings at the LIBOR Rate (as defined in the bank credit facility agreement) plus a spread ranging from 1.25% to 2.25%. The applicable spread is dependent upon borrowings relative to the borrowing base. We may elect, from time to time, to convert all or any part of our LIBOR loans to base rate loans or to convert all or any of the base rate loans to LIBOR loans. The weighted average interest rate was 3.4% for first quarter 2018 compared to 2.4% for first quarter 2017. A commitment fee is paid on the undrawn balance based on an annual rate of 0.30% to 0.375%. At March 31, 2018, the commitment fee was 0.3% and the interest rate margin was 1.5% on our LIBOR loans and 0.5% on our base rate loans.

On April 13, 2018, we entered into an amended and restated revolving bank credit facility, which we refer to as our new credit facility, which is secured by substantially all of our assets and has a maturity date of April 13, 2023. Our bank group is now composed of twenty-seven financial institutions with no one bank holding more than 5.8% of the total facility. The new credit facility provides for a maximum facility amount of $4.0 billion and provides for a borrowing base subject to redeterminations annually by May and for event-driven unscheduled redeterminations. Borrowings under the new credit facility are at costs and terms similar to the bank credit facility detailed above and are subject to customary financial and non-financial covenants.

At any time during which we have an investment grade debt rating from Moody’s Investors Service, Inc. or Standard & Poor’s Ratings Services and we have elected, at our discretion, to effect the investment grade rating period, certain collateral security requirements, including the borrowing base requirement and restrictive covenants, will cease to apply and an additional financial covenant (as defined in the bank credit facility) will be imposed. During the investment grade period, borrowings under the credit facility can either be at the ABR plus a spread ranging from 0.125% to 0.75% or at the LIBOR Rate plus a spread ranging from 1.125% to 1.75% depending on our debt rating. The commitment fee paid on the undrawn balance would range from 0.15% to 0.30%. We currently do not have an investment grade debt rating.

Senior Notes

In September 2016, in conjunction with the MRD Merger, we issued $329.2 million senior unsecured 5.875% notes due 2022 (the “5.875% Notes”). In addition, we also completed a debt exchange offer to exchange senior subordinated notes for the following senior notes (in thousands):


		Principal Amount

5.00% senior notes due 2023	$	741,531
5.00% senior notes due 2022	$	580,032
5.75% senior notes due 2021	$	475,952

All of the notes were offered to qualified institutional buyers and to non-U.S. persons outside the United States in compliance with Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). On October 5, 2017, the 5.875% Notes, the 5.00% senior notes due 2023, the 5.00% senior notes due 2022 and the 5.75% senior notes due 2021 (collectively, the “Old Notes”) were exchanged for an equal principal amount of registered notes pursuant to an effective registration statement on Form S-4 filed with the SEC on August 9, 2017 under the Securities Act (the “New Notes”). The New Notes are identical to the Old Notes except the New Notes are registered under the Securities Act and do not have restrictions on transfer, registration rights or provisions for additional interest. Under certain circumstances, if we experience a change of control, noteholders may require us to repurchase all of our senior notes at 101% of the aggregate principal amount plus accrued and unpaid interest, if any.

Senior Subordinated Notes

If we experience a change of control, noteholders may require us to repurchase all or a portion of our senior subordinated notes at 101% of the aggregate principal amount plus accrued and unpaid interest, if any. All of the senior subordinated notes and the guarantees by our subsidiary guarantors are general, unsecured obligations and are subordinated to our bank debt and are subordinated to existing and future senior debt that we or our subsidiary guarantors are permitted to incur.

Guarantees

Range is a holding company which owns no operating assets and has no significant operations independent of its subsidiaries. The guarantees by our subsidiaries, which are directly or indirectly owned by Range, of our senior notes, senior subordinated notes and our bank credit facility are full and unconditional and joint and several, subject to certain customary release provisions. A subsidiary guarantor may be released from its obligations under the guarantee:

•

in the event of a sale or other disposition of all or substantially all of the assets of the subsidiary guarantor or a sale or other disposition of all the capital stock of the subsidiary guarantor, to any corporation or other person (including an unrestricted subsidiary of Range) by way of merger, consolidation, or otherwise; or

•

if Range designates any restricted subsidiary that is a guarantor to be an unrestricted subsidiary in accordance with the terms of the indenture.

Debt Covenants

Our bank credit facility contains negative covenants that limit our ability, among other things, to pay cash dividends, incur additional indebtedness, sell assets, enter into certain hedging contracts, change the nature of our business or operations, merge, consolidate, or make certain investments. In addition, we are required to maintain a ratio of EBITDAX (as defined in the bank credit facility agreement) to cash interest expense of equal to or greater than 2.5 and a current ratio (as defined in the bank credit facility agreement) of no less than 1.0. In addition, the ratio of the present value of proved reserves (as defined in the credit agreement) to total debt must be equal to or greater than 1.5 until Range has two investment grade ratings. We were in compliance with applicable covenants under the bank credit facility at March 31, 2018.

Asset Retirement Obligations

3 Months Ended

Mar. 31, 2018

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

(10) ASSET RETIREMENT OBLIGATIONS

Our asset retirement obligations primarily represent the estimated present value of the amounts we will incur to plug, abandon and remediate our producing properties at the end of their productive lives. Significant inputs used in determining such obligations include estimates of plugging and abandonment costs, estimated future inflation rates and well lives. The inputs are calculated based on historical data as well as current estimated costs. A reconciliation of our liability for plugging and abandonment costs for the three months ended March 31, 2018 is as follows (in thousands):

	Three Months Ended March 31, 2018
Beginning of period	$	276,855
Liabilities incurred		1,258
Liabilities settled		(829	)
Accretion expense		4,247
Change in estimate		3,805
End of period		285,336
Less current portion		(6,327	)
Long-term asset retirement obligations	$	279,009

Accretion expense is recognized as a component of depreciation, depletion and amortization expense in the accompanying consolidated statements of operations.

Capital Stock

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Capital Stock

(11) CAPITAL STOCK

We have authorized capital stock of 485.0 million shares which includes 475.0 million shares of common stock and 10.0 million shares of preferred stock. We currently have no preferred stock issued or outstanding. The following is a schedule of changes in the number of common shares outstanding since the beginning of 2017:

	Three Months Ended March 31, 2018		Year Ended December 31, 2017
Beginning balance		248,129,430		247,144,356
Restricted stock grants		673,791		539,096
Restricted stock units vested		397,774		344,937
Performance stock units issued		20,430		85,461
Treasury shares issued		895		15,580
Ending balance		249,222,320		248,129,430

Derivative Activities

3 Months Ended

Mar. 31, 2018

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Activities

(12) DERIVATIVE ACTIVITIES

We use commodity-based derivative contracts to manage exposure to commodity price fluctuations. We do not enter into these arrangements for speculative or trading purposes. We utilize commodity swaps, calls or swaptions to (1) reduce the effect of price volatility of the commodities we produce and sell and (2) support our annual capital budget and expenditure plans. The fair value of our derivative contracts, represented by the estimated amount that would be realized upon termination, based on a comparison of the contract price and a reference price, generally the New York Mercantile Exchange (“NYMEX”) for natural gas and crude oil or Mont Belvieu for NGLs, approximated a net loss of $19.9 million at March 31, 2018. These contracts expire monthly through December 2020. The following table sets forth our commodity-based derivative volumes by year as of March 31, 2018, excluding our basis and freight swaps which are discussed separately below:

Period	Contract Type	Volume Hedged	Weighted Average Hedge Price
Natural Gas
2018	Swaps	1,001,127 Mmbtu/day		$ 2.96
2019	Swaps	324,658 Mmbtu/day		$ 2.82
October-December 2018	Calls	70,000 Mmbtu/day		$ 3.10 ⁽¹⁾
2018	Swaptions	160,000 Mmbtu/day		$ 3.07 ⁽²⁾
2019	Swaptions	170,137 Mmbtu/day		$ 2.92 ⁽²⁾


Crude Oil
2018	Swaps	8,748 bbls/day		$ 53.25
2019	Swaps	5,872 bbls/day		$ 53.73
January-June 2020	Swaps	250 bbls/day		$ 55.00

NGLs (C2-Ethane)
2018	Swaps	250 bbls/day		$ 0.29/gallon

NGLs (C3-Propane)
2018	Swaps	7,451 bbls/day		$ 0.68/gallon

NGLs (NC4-Normal Butane)
2018	Swaps	4,333 bbls/day		$ 0.81/gallon

NGLs (C5-Natural Gasoline)
2018	Swaps	4,904 bbls/day		$ 1.21/gallon
January-June 2019	Swaps	1,000 bbls/day		$ 1.24/gallon

⁽¹⁾	Weightedaverage deferred premium of $0.16.

⁽²⁾

Contains a combined derivative instrument consisting of a fixed price swap and a sold option to extend or double the volume. For April through December of 2018, we have swaps in place for 160,000 Mmbtu per day on which the counterparty can elect to extend the contract through December 2019 at a weighted average price of $3.07. We have swaps in place for 2019 for 140,000 Mmbtu/day on which the counterparty can elect to double the volume at a weighted average price of $2.93. We also have swaps in place for 2019 for 40,000 Mmbtu per day on which the counterparty can elect to extend the contract through December 2020 at a weighted average price of $2.85.

Every derivative instrument is required to be recorded on the balance sheet as either an asset or a liability measured at its fair value. We recognize all changes in fair value of these derivatives as earnings in derivative fair value income or loss in the periods in which they occur.

Basis Swap Contracts

In addition to the swaps, calls and swaptions described above, at March 31, 2018, we had natural gas basis swap contracts which lock in the differential between NYMEX Henry Hub and certain of our physical pricing indices primarily in Appalachia. These contracts settle monthly through October 2020 and include a total volume of 91,440,000 Mmbtu. The fair value of these contracts was a gain of $2.2 million at March 31, 2018.

At March 31, 2018, we also had propane spread swap contracts which lock in the differential between Mont Belvieu and international propane indices. The contracts settle monthly through December 2019 and include a total volume of 2,063,000 barrels. The fair value of these contracts was a loss of $1.4 million at March 31, 2018.

Freight Swap Contracts

In connection with our international propane sales, we utilize propane swaps. To further hedge our propane price, at March 31, 2018, we had freight swap contracts which lock in the freight rate for a specific trade route on the Baltic Exchange. These contracts settle monthly through December 2018 and cover 5,000 metric tons per month with a fair value loss of $34,000 at March 31, 2018. These contracts use observable third-party pricing inputs that we consider to be Level 2 fair value classification.

Derivative Assets and Liabilities

The combined fair value of derivatives included in the accompanying consolidated balance sheets as of March 31, 2018 and December 31, 2017 is summarized below. The assets and liabilities are netted where derivatives with both gain and loss positions are held by a single counterparty and we have master netting arrangements. The tables below provide additional information relating to our master netting arrangements with our derivative counterparties (in thousands):

		March 31, 2018
		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet			Net Amounts of Assets Presented in the Balance Sheet
Derivative assets:
Natural gas	–swaps	$	43,074	$	(13,076	)	$	29,998
	–swaptions		20,159		(13,927	)		6,232
	–basis swaps		3,150		(449	)		2,701
	–calls		—		(365	)		(365	)
Crude oil	–swaps		31		(9,497	)		(9,466	)
NGLs	–C2 ethane swaps		24		—			24
	–C3 propane swaps		500		(3,671	)		(3,171	)
	–C3 propane spread swaps		9,913		(9,913	)		—
	–NC4 butane swaps		10		(1,489	)		(1,479	)
	–C5 natural gasoline swaps		—		(1,342	)		(1,342	)
		$	76,861	$	(53,729	)	$	23,132

		March 31, 2018
		Gross Amounts of Recognized (Liabilities)			Gross Amounts Offset in the Balance Sheet		Net Amounts of (Liabilities) Presented in the Balance Sheet
Derivative (liabilities):
Natural gas	–swaps	$	(7,255	)	$	13,076	$	5,821
	–swaptions		(10,026	)		13,927		3,901
	–basis swaps		(990	)		449		(541	)
	–calls		(853	)		365		(488	)
Crude oil	–swaps		(34,097	)		9,497		(24,600	)
NGLs	–C3 propane swaps		(15,573	)		3,671		(11,902	)
	–C3 propane spread swaps		(11,286	)		9,914		(1,372	)
	–NC4 butane swaps		(4,093	)		1,488		(2,605	)
	–C5 natural gasoline swaps		(11,760	)		1,342		(10,418	)
Freight	–swaps		(34	)		—		(34	)
		$	(95,967	)	$	53,729	$	(42,238	)

		December 31, 2017
		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet			Net Amounts of Assets Presented in the Balance Sheet
Derivative assets:
Natural gas	–swaps	$	87,794	$	(4,106	)	$	83,688
	–swaptions		18,817		(8,103	)		10,714
	–basis swaps		1,815		(6,673	)		(4,858	)
	–collars		3,039		(500	)		2,539
Crude oil	–swaps		2		(7,928	)		(7,926	)
NGLs	–C2 ethane swaps		57		—			57
	–C3 propane swaps		—		(12,556	)		(12,556	)
	–C3 propane collars		85		(85	)		—
	–C3 propane spread swaps		12,762		(12,762	)		—
	–NC4 butane swaps		—		(6,051	)		(6,051	)
	–C5 natural gasoline swaps		—		(6,727	)		(6,727	)
Freight	–swaps		276		(276	)		—
		$	124,647	$	(65,767	)	$	58,880

		December 31, 2017
		Gross Amounts of Recognized (Liabilities)			Gross Amounts Offset in the Balance Sheet		Net Amounts of (Liabilities) Presented in the Balance Sheet
Derivative (liabilities):
Natural gas	–swaps	$	(216	)	$	4,106	$	3,890
	–swaptions		(12,283	)		8,103		(4,180	)
	–basis swaps		(9,580	)		6,673		(2,907	)
	–collars		—			500		500
Crude oil	–swaps		(24,726	)		7,928		(16,798	)
NGLs	–C3 propane swaps		(34,325	)		12,556		(21,769	)
	–C3 propane collars		—			85		85
	–C3 propane spread swaps		(13,983	)		12,762		(1,221	)
	–NC4 butane swaps		(11,188	)		6,051		(5,137	)
	–C5 natural gasoline swaps		(13,488	)		6,727		(6,761	)
Freight	–swaps		—			276		276
		$	(119,789	)	$	65,767	$	(54,022	)

The effects of our derivatives on our consolidated statements of operations are summarized below (in thousands):

		Derivative Fair Value (Loss) Income
		Three Months Ended March 31,
		2018			2017
Commodity swaps	$	(16,536	)	$	166,752
Swaptions		3,599			—
Collars		(77	)		9,475
Puts		—			6,707
Calls		177			510
Basis swaps		(864	)		(17,972	)
Freight swaps		(308	)		85
Total	$	(14,009	)	$	165,557

Fair Value Measurements

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

(13) FAIR VALUE MEASUREMENTS

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three approaches for measuring the fair value of assets and liabilities: the market approach, the income approach and the cost approach, each of which includes multiple valuation techniques. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to measure fair value by converting future amounts, such as cash flows or earnings, into a single present value amount using current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace the service capacity of an asset. This is often referred to as current replacement cost. The cost approach assumes that the fair value would not exceed what it would cost a market participant to acquire or construct a substitute asset of comparable utility, adjusted for obsolescence.

The fair value accounting standards do not prescribe which valuation technique should be used when measuring fair value and do not prioritize among the techniques. These standards establish a fair value hierarchy that prioritizes the inputs used in applying the various valuation techniques. Inputs broadly refer to the assumptions that market participants use to make pricing decisions, including assumptions about risk. Level 1 inputs are given the highest priority in the fair value hierarchy while Level 3 inputs are given the lowest priority. The three levels of the fair value hierarchy are as follows:

•

Level 1 – Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

•

Level 2 – Observable market-based inputs or unobservable inputs that are corroborated by market data. These are inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

•

Level 3 – Unobservable inputs for which there is little, if any, market activity for the asset or liability being measured. These inputs reflect management’s best estimates of the assumptions market participants would use in determining fair value. Our Level 3 measurements consist of instruments using standard pricing models and other valuation methods that utilize unobservable pricing inputs that are significant to the overall fair value.

Valuation techniques that maximize the use of observable inputs are favored. Assets and liabilities are classified in their entirety based on the lowest priority level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities within the levels of the fair value hierarchy.

Significant uses of fair value measurements include:

•

impairment assessments of long-lived assets;

•

impairment assessments of goodwill; and

•

recorded value of derivative instruments and trading securities.

The need to test long-lived assets and goodwill can be based on several indicators, including a significant reduction in prices of natural gas, oil and condensate, NGLs, sustained declines in our common stock, unfavorable adjustments to reserves, significant changes in the expected timing of production, other changes to contracts or changes in the regulatory environment in which a property is located.

Fair Values – Recurring

We use a market approach for our recurring fair value measurements and endeavor to use the best information available. The following tables present the fair value hierarchy table for assets and liabilities measured at fair value, on a recurring basis (in thousands):

	Fair Value Measurements at March 31, 2018 using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total Carrying Value as of March 31, 2018
Trading securities held in the deferred compensation plans	$	67,673	$	—		$	—	$	67,673
Derivatives –swaps		—		(29,140	)		—		(29,140	)
–calls		—		(853	)		—		(853	)
–basis swaps		—		749			39		788
–freight swaps		—		(34	)		—		(34	)
–swaptions		—		—			10,133		10,133

		Fair Value Measurements at December 31, 2017 using:
		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total Carrying Value as of December 31, 2017
Trading securities held in the deferred compensation plans		$	67,117	$	—		$	—	$	67,117
Derivatives	–swaps		—		3,910			—		3,910
	–collars		—		3,039			85		3,124
	–basis swaps		—		(9,025	)		39		(8,986	)
	–freight swaps		—		276			—		276
	–swaptions		—		—			6,534		6,534

Our trading securities in Level 1 are exchange-traded and measured at fair value with a market approach using end of period market values. Derivatives in Level 2 are measured at fair value with a market approach using third-party pricing services, which have been corroborated with data from active markets or broker quotes. As of March 31, 2018, a portion of our natural gas derivative instruments contains swaptions where the counterparty has the right, but not the obligation, to enter into a fixed price swap on a pre-determined date. Derivatives in Level 3 are measured at fair value with a market approach using third-party pricing services, which have been corroborated with data from active markets or broker quotes. Subjectivity in the volatility factors utilized can cause a significant change in the fair value measurement of our swaptions. The following is a reconciliation of the beginning and ending balances for derivative instruments classified as Level 3 in the fair value hierarchy (in thousands):

	As of March 31, 2018
Balance at December 31, 2017	$	6,658
Total gain (losses):
Included in earnings		2,857
Settlements		2,799
Transfer out of Level 3 ⁽¹⁾		(2,142	)
Balance at March 31, 2018	$	10,172

⁽¹⁾ During first quarter 2018, we transferred $2.1 million of swaption contracts out of Level 3 resulting from the exercise of our Level 3 swaptions by the counterparties.

Our trading securities held in the deferred compensation plan are accounted for using the mark-to-market accounting method and are included in other assets in the accompanying consolidated balance sheets. We elected to adopt the fair value option to simplify our accounting for the investments in our deferred compensation plan. Interest, dividends, and mark-to-market gains or losses are included in deferred compensation plan expense in the accompanying consolidated statements of operations. For first quarter 2018, interest and dividends were $168,000 and the mark-to-market adjustment was a loss of $7.5 million compared to interest and dividends of $118,000 and a mark-to-market gain of $1.5 million in first quarter 2017.

Fair Values—Non-recurring

Our proved natural gas and oil properties are reviewed for impairment periodically as events or changes in circumstances indicate the carrying amount may not be recoverable. In first quarter 2018, there were indicators that the carrying value of certain of our oil gas properties in Oklahoma may be impaired and undiscounted future cash flows attributed to these assets indicated their carrying amounts were not expected to be recovered. Their remaining fair value was measured using a market approach based upon the potential sale of these properties, which is a Level 3 input. We recorded non-cash charges in first quarter 2018 of $7.3 million related to these properties. The following table presents the value of these assets measured at fair value on a non-recurring basis at the time impairment was recorded (in thousands):

Three Months Ended

March 31, 2018

Fair Value

Impairment

Natural gas and oil properties

32,516

7,312

Fair Values—Reported

The following table presents the carrying amounts and the fair values of our financial instruments as of March 31, 2018 and December 31, 2017 (in thousands):

	March 31, 2018						December 31, 2017
	Carrying Value			Fair Value			Carrying Value			Fair Value
Assets:
Commodity swaps, options and basis swaps	$	23,132		$	23,132		$	58,880		$	58,880
Marketable securities ^(a)		67,673			67,673			67,117			67,117
(Liabilities):
Commodity swaps, options and basis swaps		(42,238	)		(42,238	)		(54,022	)		(54,022	)
Bank credit facility ^(b)		(1,182,000	)		(1,182,000	)		(1,211,000	)		(1,211,000	)
5.75% senior notes due 2021 ^(b)		(475,952	)		(485,381	)		(475,952	)		(493,872	)
5.00% senior notes due 2022 ^(b)		(580,032	)		(561,633	)		(580,032	)		(578,727	)
5.875% senior notes due 2022 ^(b)		(329,244	)		(330,610	)		(329,244	)		(339,200	)
Other senior notes due 2022 ^(b)		(590	)		(582	)		(590	)		(591	)
5.00% senior notes due 2023 ^(b)		(741,531	)		(711,143	)		(741,531	)		(735,614	)
4.875% senior notes due 2025 ^(b)		(750,000	)		(694,800	)		(750,000	)		(733,755	)
5.75% senior subordinated notes due 2021 ^(b)		(22,214	)		(22,630	)		(22,214	)		(22,192	)
5.00% senior subordinated notes due 2022 ^(b)		(19,054	)		(18,436	)		(19,054	)		(18,741	)
5.00% senior subordinated notes due 2023 ^(b)		(7,712	)		(7,355	)		(7,712	)		(7,614	)
Deferred compensation plan ^(c)		(114,806	)		(114,806	)		(114,414	)		(114,414	)

^(a)	Marketable securities, which are held in our deferred compensation plans, are actively traded on major exchanges.

^(b)	The book value of our bank debt approximates fair value because of its floating rate structure. The fair value of our senior notes and our senior subordinated notes is based on end of period market quotes which are Level 2 inputs.

^(c)	The fair value of our deferred compensation plan is updated at the closing price on the balance sheet date which is a Level 1 input.

Our current assets and liabilities contain financial instruments, the most significant of which are trade accounts receivable and payable. We believe the carrying values of our current assets and liabilities approximate fair value. Our fair value assessment incorporates a variety of considerations, including (1) the short-term duration of the instruments and (2) our historical and expected incurrence of bad debt expense. Non-financial liabilities initially measured at fair value include asset retirement obligations. For additional information, see Note 10.

Concentrations of Credit Risk

As of March 31, 2018, our primary concentrations of credit risk are the risks of not collecting accounts receivable and the risk of a counterparty’s failure to perform under derivative obligations. Most of our receivables are from a diverse group of companies, including major energy companies, pipeline companies, local distribution companies, financial institutions and end-users in various industries. Letters of credit or other appropriate securities are obtained as deemed necessary to limit our risk of loss. Our allowance for uncollectable receivables was $7.1 million at both March 31, 2018 and December 31, 2017. Our derivative exposure to credit risk is diversified primarily among major investment grade financial institutions, where we have master netting agreements which provide for offsetting payables against receivables from separate derivative contracts. To manage counterparty risk associated with our derivatives, we select and monitor our counterparties based on our assessment of their financial strength and/or credit ratings. We may also limit the level of exposure with any single counterparty. At March 31, 2018, our derivative counterparties include nineteen financial institutions, of which all but five are secured lenders in our bank credit facility. At March 31, 2018, our net derivative liability includes a net payable of $15.4 million to these five counterparties that are not participants in our bank credit facility.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Revenues from Contracts with Customers

3 Months Ended

Mar. 31, 2018

Revenue From Contract With Customer [Abstract]

Revenues from Contracts with Customers

(14) REVENUES FROM CONTRACTS WITH CUSTOMERS

Revenue Recognition

Natural gas, NGLs and oil sales revenues are generally recognized at the point in time that control of the product is transferred to the customer and collectability is reasonably assured. See a more detailed summary of our product types below.

Natural Gas and NGLs Sales

Under our gas processing contracts, we deliver natural gas to a midstream processing entity at the wellhead or the inlet of the midstream processing entity’s system. The midstream processing entity processes the natural gas and remits proceeds to us for the resulting sales of NGLs and residue gas. In these scenarios, we evaluate whether we are the principal or the agent in the transaction. For those contracts that we have concluded that we are the principal, the ultimate third party is our customer and we recognize revenue on a gross basis, with gathering, compression, processing, and transportation fees presented as an expense. Alternatively, for those contracts that we have concluded that we are the agent, the midstream processing entity is our customer and we recognize revenue based on the net amount of the proceeds received from the midstream processing entity.

In certain natural gas processing agreements, we may elect to take our residue gas and/or NGLs in-kind at the tailgate of the midstream entity’s processing plant and subsequently market the product on our own. Through the marketing process, we deliver product to the ultimate third party purchaser at a contractually agreed upon delivery point and receive a specified index price from the purchaser. In this scenario, we recognize revenue when control transfers to the purchaser at the delivery point based on the index price received from the purchaser. The gathering, processing and compression fees attributable to the gas processing contract, as well as any transportation fees incurred to deliver the product to the purchaser are presented as transportation, gathering, processing and compression expense.

Oil Sales

Our oil sales contracts are generally structured in one of the following ways:

•

We sell oil production at the wellhead and collect an agreed upon index price, net of transportation incurred by the purchaser (that is, a netback arrangement). In this scenario, we recognize revenue when control transfers to the purchaser at the wellhead at the net price received.

•

We deliver oil to the purchaser at a contractually agreed upon delivery point at which the purchaser takes custody, title, and risk of loss of the product. Under this arrangement, we pay a third party to transport the product and receive a specified index price from the purchaser with no deduction. In this scenario, we recognize revenue when control transfers to the purchaser at the delivery point based on the price received from the purchaser. The third party costs are recorded as transportation, gathering, processing and compression expense.

Brokered Natural Gas, Marketing and Other

We realized brokered margins as a result of buying natural gas or NGLs utilizing separate purchase transactions, generally with separate counterparties and subsequently selling that natural gas under our existing gas contracts to fulfill our contract commitments. In these arrangements, we take control of the natural gas purchased prior to delivery of that gas under our existing gas contracts with a separate counterparty. Revenues and expenses related to brokering natural gas are reported gross as part of revenues and expenses in accordance with applicable accounting standards. Our net brokered margin was a $3.1 million in the three months ended March 31, 2018.

Disaggregation of Revenue

We have identified three material revenue streams in our business: natural gas sales, NGLs sales and oil sales. Brokered revenue attributable to each product sales type is included in these because the volume of product that we purchase is subsequently sold to separate counterparties in accordance with existing sales contracts under which we also sell our production. Revenue attributable to each of our identified revenue streams is disaggregated in the table below (in thousands):

		Three Months Ended March 31, 2018
Natural gas sales ^(a)	$	491,248
NGLs sales ^(b)		202,831
Oil sales		62,529
Total	$	756,608

^(a) Natural gas sales revenue reported above includes $55.9 million of brokered revenues and $3.8 million of marketing revenue.

^(b) NGLs sales revenue reported above includes $304,000 of brokered revenues.

Principal versus Agent

We engage in various types of transactions in which midstream entities process our wet gas and, in some scenarios, subsequently market the resulting NGLs and residue gas to third-party customers on our behalf. These types of transactions require judgement to determine whether we are the principal or the agent in the contract and, as a result, whether revenues are recorded gross or net.

Transaction Price Allocated to Remaining Performance Obligations

A significant number of our product sales are short-term in nature with a contract term of one year or less. For those contracts, we have utilized the practical expedient allowed in the new revenue accounting standard that exempts us from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less.

For our product sales that have a contract term greater than one year, we have also utilized the practical expedient that states that we are not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under these sales contracts, each unit of product generally represents a separate performance obligation; therefore, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. Currently, our product sales that have a contractual term greater than one year have no long-term fixed consideration.

Contract Balances

Under our sales contracts, we invoice customers once our performance obligations have been satisfied, at which point payment is unconditional. Accordingly, our product sales contracts do not give rise to contract assets or liabilities. Accounts receivable attributable to our revenue contracts with customers was $257.6 million at March 31, 2018 and $305.7 million at December 31, 2017.

Prior−Period Performance Obligations

We record revenue in the month production is delivered to the purchaser. However, settlement statements for certain gas and NGLs sales may be received for 30 to 90 days after the date production is delivered, and as a result, we are required to estimate the amount of production that was delivered to the purchaser and the price that will be received for the sale of the product. We record the differences between our estimates and the actual amounts for product sales in the month that payment is received from the purchaser. We have internal controls in place for our estimation process and any identified differences between our revenue estimates and actual revenue received historically have not been significant. For the three months ended March 31, 2018, revenue recognized in the reporting period related to performance obligations satisfied in prior reporting periods was not material.

Stock-based Compensation Plans

3 Months Ended

Mar. 31, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based Compensation Plans

(15) STOCK-BASED COMPENSATION PLANS

Stock-Based Awards

We have one active equity-based stock plan, our Amended and Restated 2005 Equity-Based Incentive Compensation Plan, which we refer to as the 2005 Plan. Under this plan, various awards may be issued to non-employee directors and employees pursuant to decisions of the Compensation Committee, which is composed of only non-employee, independent directors. To better align the timing of senior officer equity awards with our proxy filing in 2018, senior officer equity grants were in March 2018 rather than May, as in previous years.

Total Stock-Based Compensation Expense

Stock-based compensation represents amortization of restricted stock and performance units. Unlike the other forms of stock-based compensation, the mark-to-market adjustment of the liability related to the vested restricted stock held in our deferred compensation plan is directly tied to the change in our stock price and not directly related to the functional expenses and therefore, is not allocated to the functional categories. The following table details the allocation of stock-based compensation to functional expense categories (in thousands):

		Three Months Ended March 31,
		2018 ⁽¹⁾		2017
Direct operating expense	$	591	$	524
Brokered natural gas and marketing expense		285		263
Exploration expense		751		507
General and administrative expense		23,911		10,918
Termination costs		—		1,742
Total stock-based compensation	$	25,538	$	13,954

⁽¹⁾ Includes $18.2 million accelerated vesting of equity grants.

Stock-Based Awards

Restricted Stock Awards. We grant restricted stock units under our equity-based stock compensation plan. These restricted stock units, which we refer to as restricted stock Equity Awards, generally vest over a three year period, contingent on the recipient’s continued employment. The grant date fair value of the Equity Awards is based on the fair market value of our common stock on the date of grant.

The Compensation Committee also grants restricted stock to certain employees and non-employee directors of the board of directors as part of their compensation. We also grant restricted stock to certain employees for retention purposes. Compensation expense is recognized over the balance of the vesting period, which is typically three years for employee grants and immediate vesting for non-employee directors. All restricted stock awards are issued at prevailing market prices at the time of the grant and the vesting is based upon an employee’s continued employment with us. Prior to vesting, all restricted stock awards have the right to vote such stock and receive dividends thereon. Upon grant of these restricted shares, which we refer to as restricted stock Liability Awards, the majority of these shares are generally placed in our deferred compensation plan and, upon vesting, withdrawals are allowed in either cash or in stock. These Liability Awards are classified as a liability and are remeasured at fair value each reporting period. This mark-to-market amount is reported in deferred compensation plan expense in the accompanying consolidated statements of operations. Historically, we have used authorized but unissued shares of stock when restricted stock is granted. However, we also utilize treasury shares when available.

Stock-Based Performance Units. We grant three types of performance share awards: two based on performance conditions measured against internal performance metrics (Production Growth Awards or “PG-PSUs” and Reserve Growth Awards or “RG-PSUs”) and one based on market conditions measured based on Range’s performance relative to a predetermined peer group (TSR Awards or “TSR-PSUs”).

At grant date, each unit represents the value of one share of our common stock. These units are settled in stock and the amount of the payout is based on (1) the vesting percentage, which can be from zero to 200% based on performance achieved and (2) the value of our common stock on the date vesting is determined by the Compensation Committee. Dividend equivalent may accrue during the performance period and would be paid in stock at the end of the performance period. The performance period for the TSR-PSUs is a three year period. The performance period for the PG/RG-PSUs is based on annual performance targets earned over a three-year period.

SARs. At March 31, 2018, there were 337,000 SARs outstanding.

Restricted Stock – Equity Awards

In first quarter 2018, we granted 1.8 million restricted stock Equity Awards to employees at an average price of $17.00 which generally vest over a three-year period compared to 870,000 at an average price of $32.98 in first quarter 2017. We recorded compensation expense for these awards of $6.5 million in first quarter 2018 compared to $6.0 million in the same period of 2017. Restricted stock Equity Awards are not issued to employees until such time as they are vested and the employees do not have the option to receive cash.

Restricted Stock – Liability Awards

In first quarter 2018, we granted 674,000 shares of restricted stock Liability Awards as compensation to employees at an average price of $15.21 which vests generally over a three-year period. The timing of equity grants to senior officers was moved to March 2018 to align with our proxy filings compared to grants in May in previous years. In first quarter 2017, we granted 66,000 shares of restricted stock Liability Awards as compensation to employees at an average price of $32.67 with vesting generally over a three-year period. We recorded compensation expense for these Liability Awards of $8.1 million in first quarter 2018 compared to $2.7 million in first quarter 2017. The majority of these awards are held in our deferred compensation plan, are classified as a liability and are remeasured at fair value each reporting period. This mark-to-market amount is reported as deferred compensation expense in our consolidated statements of operations (see additional discussion below). The following is a summary of the status of our non-vested restricted stock outstanding at March 31, 2018:

	Restricted Stock Equity Awards					Restricted Stock Liability Awards
	Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2017		833,058		$	31.64		55,202		$	32.26
Granted		1,783,446			17.00		673,791			15.21
Vested		(235,844	)		25.56		(548,986	)		15.51
Forfeited		(71,046	)		22.45		—			—
Outstanding at March 31, 2018		2,309,614		$	21.24		180,007		$	19.54

Stock-Based Performance Units

Production Growth and Reserve Growth Awards. The PG-PSUs and RG-PSUs vest at the end of the three-year performance period. The performance metrics for each year are set by the Compensation Committee no later than March 31 of such year. If the performance metric for the applicable period is not met, then the portion is considered forfeited. The following is a summary of our non-vested PG/RG-PSUs awards outstanding at March 31, 2018:


	Number of Units			Weighted Average Grant Date Fair Value of Range Stock
Outstanding at December 31, 2017	122,921		$	18.66
Units granted ^(a)	440,938			15.22
Forfeited ^(b)	(20,488	)		25.53
Outstanding at March 31, 2018	543,371		$	15.61

^(a)

Amounts granted reflect the number of performance units granted; however, the actual payout of shares will be between zero and 200% depending on achievement of specifically identified performance targets.

^(b)

The first of three tranches of PG-PSUs granted in 2017 are considered forfeited as the performance metric was not met.

We recorded PG/RG-PSUs compensation expense of $5.3 million in first quarter 2018 compared to $6,000 in first quarter 2017.

TSR Awards. TSR-PSUs granted are earned, or not earned, based on the comparative performance of Range’s common stock measured against a predetermined group of companies in the peer group over a three-year performance period. The fair value of the TSR-PSUs is estimated on the date of grant using a Monte Carlo simulation model which utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the award grant and calculates the fair value of the award. The fair value is recognized as stock-based compensation expense over the three year performance period. Expected volatilities utilized in the model were estimated using a combination of a historical period consistent with the remaining performance period of three years and option implied volatilities. The risk-free interest rate was based on the United States Treasury rate for a term commensurate with the life of the grant. The following assumptions were used to estimate the fair value of PSUs granted during the first quarter 2018 and 2017:


	Three Months Ended March 31,
	2018			2017
Risk-free interest rate		2.42	%		1.52	%
Expected annual volatility		47	%		45	%
Grant date fair value per unit	$	18.51		$	28.31

The following is a summary of our non-vested TSR – PSUs award activities:

	Number of Units			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2017		1,009,842		$	38.38
Granted ^(a)		329,486			18.51
Vested and issued ^(b)		(20,430	)		55.17
Forfeited		(43,401	)		55.17
Outstanding at March 31, 2018		1,275,497		$	32.41

^(a) These amounts reflect the number of performance units granted. The actual payout of shares may be between zero and 200% of the performance units granted depending on the total shareholder return ranking compared to our peer companies at the vesting date.

^(b) Includes 20,430 TSR-PSUs awards issued related to the 2015 performance period where the return on our common stock was the 46^th percentile for the February 2015 grant. The remaining 2015 awards are considered to be forfeited.

We recorded TSR-PSUs compensation expense of $5.4 million in first quarter 2018 compared to $3.1 million in the same period of 2017.

SARs

Information with respect to our SARs activities is summarized below.

	Shares			Weighted Average Exercise Price
Outstanding at December 31, 2017		382,779		$	76.54
Expired/forfeited		(45,572	)		71.03
Outstanding at March 31, 2018		337,207		$	77.28

Other Postretirement Benefits

Effective fourth quarter 2017, as part of our officer succession plan, we implemented a postretirement benefit plan to assist in providing health care to officers who are active employees (including their spouses) and have met certain age and service requirements. These benefits are not funded in advance and are provided up to age 65 or at the date they become eligible for Medicare, subject to various cost-sharing features. In first quarter 2018, there were $92,000 of estimated prior service costs amortized from accumulated other comprehensive income into general and administrative expense. Those employees that qualify for the new postretirement health care plan are also fully vested in all equity grants.

Deferred Compensation Plan

Our deferred compensation plan gives non-employee directors and officers the ability to defer all or a portion of their salaries, bonuses or director fees and invest in Range common stock or make other investments at the individual’s discretion. Range provides a partial matching contribution to officers which vests over three years. The assets of the plan are held in a grantor trust, which we refer to as the Rabbi Trust, and are therefore available to satisfy the claims of our general creditors in the event of bankruptcy or insolvency. Our stock held in the Rabbi Trust is treated as a liability award as employees are allowed to take withdrawals from the Rabbi Trust either in cash or in Range stock. The liability for the vested portion of the stock held in the Rabbi Trust is reflected as deferred compensation liability in the accompanying consolidated balance sheets and is adjusted to fair value each reporting period by a charge or credit to deferred compensation plan expense on our consolidated statements of operations. The assets of the Rabbi Trust, other than our common stock, are invested in marketable securities and reported at their market value as other assets in the accompanying consolidated balance sheets. The deferred compensation liability reflects the vested market value of the marketable securities and Range stock held in the Rabbi Trust. Changes in the market value of the marketable securities and changes in the fair value of the deferred compensation plan liability are charged or credited to deferred compensation plan expense each quarter. We recorded mark-to-market gain of $7.4 million in first quarter 2018 compared to mark-to-market gain of $13.2 million in first quarter 2017. The Rabbi Trust held 3.5 million shares (3.3 million of which were vested) of Range stock at March 31, 2018 compared to 2.9 million shares (2.8 million of which were vested) at December 31, 2017.

Supplemental Cash Flow Information

3 Months Ended

Mar. 31, 2018

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

(16) SUPPLEMENTAL CASH FLOW INFORMATION

	Three Months Ended March 31,
	2018			2017
	(in thousands)
Net cash provided from operating activities included:
Income taxes refunded from taxing authorities	$	7,518		$	—
Interest paid		(57,536	)		(43,864	)
Non-cash investing and financing activities included:
Increase in asset retirement costs capitalized		5,063			1,715
(Decrease) increase in accrued capital expenditures		(77,365	)		39,569

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(17) COMMITMENTS AND CONTINGENCIES Litigation We are the subject of, or party to, a number of pending or threatened legal actions, administrative proceedings and claims arising in the ordinary course of our business. While many of these matters involve inherent uncertainty, we believe that the amount of the liability, if any, ultimately incurred with respect to these actions, proceedings or claims will not have a material adverse effect on our consolidated financial position as a whole or on our liquidity, capital resources or future annual results of operations. We estimate and provide for potential losses that may arise out of litigation and regulatory proceedings to the extent that such losses are probable and can be reasonably estimated. We will continue to evaluate our litigation and regulatory proceedings quarterly and will establish and adjust any estimated liability as appropriate to reflect our assessment of the then current status of litigation and regulatory proceedings. Significant judgment is required in making these estimates and our final liabilities may ultimately be materially different. Transportation and Gathering Contracts In first quarter 2018, our transportation and gathering commitments increased by approximately $52.2 million over the next twenty years (through 2038) primarily due to pricing changes for current contracts.

Office Closing and Termination Costs

3 Months Ended

Mar. 31, 2018

Restructuring And Related Activities [Abstract]

Office Closing and Termination Costs

(18) OFFICE CLOSING AND TERMINATION COSTS

In first quarter 2017, we recorded accruals for severance, other personnel costs and accelerated vesting of stock-based compensation as part of a continuing effort to reduce our general and administrative expenses due, in part, to the lower commodity price environment. The following summarizes our termination costs for the three months ended March 31, 2018 and 2017 (in thousands):

		Three Months Ended March 31,
		2018			2017
Severance costs	$	—		$	2,422
Building lease		(37	)		28
Stock-based compensation		—			1,742
Total termination costs	$	(37	)	$	4,192

The following details our accrued liability as of March 31, 2018 (in thousands):

		March 31, 2018
Beginning balance at December 31, 2017	$	1,855
Accrued building rent		(37	)
Payments		(252	)
Ending balance at March 31, 2018	$	1,566

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization

3 Months Ended

Mar. 31, 2018

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization

(19) Capitalized Costs and Accumulated Depreciation, Depletion and Amortization ^(a)

	March 31, 2018			December 31, 2017
	(in thousands)
Natural gas and oil properties:
Properties subject to depletion	$	10,808,673		$	10,572,453
Unproved properties		2,648,981			2,644,000
Total		13,457,654			13,216,453
Accumulated depreciation, depletion and amortization		(3,807,356	)		(3,649,716	)
Net capitalized costs	$	9,650,298		$	9,566,737

^(a)

Includes capitalized asset retirement costs and the associated accumulated amortization.

Costs Incurred for Property Acquisition, Exploration and Development

3 Months Ended

Mar. 31, 2018

Costs Incurred for Property Acquisition, Exploration and Development

(20) Costs Incurred for Property Acquisition, Exploration and Development ^(a)

	Three Months Ended March 31, 2018		Year Ended December 31, 2017
	(in thousands)
Acquisitions:
Acreage purchases	$	19,705	$	62,075
Oil and gas properties		—		18,269
Development		225,033		1,177,526
Exploration:
Drilling		1,855		2,030
Expense		6,968		50,920
Stock-based compensation expense		751		2,742
Gas gathering facilities:
Development		8,590		15,097
Subtotal		262,902		1,328,659
Asset retirement obligations		5,063		20,245
Total costs incurred	$	267,965	$	1,348,904

^(a)

Includes costs incurred whether capitalized or expensed.

Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2018

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Inventory

Inventory. As of March 31, 2018, we had $9.9 million of material and supplies inventory compared to $12.1 million at December 31, 2017. Material and supplies inventory consists of primarily tubular goods and equipment used in our operations and is stated at lower of specific cost of each inventory item or net realized value, on a first-in, first-out basis. At March 31, 2018, we also had commodity inventory of $5.8 million compared to $508,000 at December 31, 2017. Commodity inventory as of March 31, 2018 consists of natural gas and NGLs held in storage or as line fill in pipelines

Unproved Properties

Unproved Properties. Impairment of a significant portion of our unproved properties is assessed and amortized on an aggregate basis based on our average holding period, expected forfeiture rate and anticipated drilling success. In certain circumstances, our future plans to develop acreage may accelerate our impairment.

New Accounting Standards

Not Yet Adopted

Recently Adopted

	Three Months Ended March 31, 2018
	As Reported				Previous Revenue Recognition Method
		$		$ Per mcfe		$		$ Per mcfe		Increase		$ Per mcfe
Revenues:
Natural gas, NGLs and oil sales	$	696,629	$	3.53	$	658,802	$	3.34	$	37,827	$	0.19
Costs and expenses:
Transportation, gathering, processing and compression	$	244,628	$	1.24	$	206,801	$	1.05	$	37,827	$	0.19
Net income	$	49,238			$	49,238			$	—

New Accounting Standards (Tables)

3 Months Ended

Mar. 31, 2018

New Accounting Pronouncements And Changes In Accounting Principles [Abstract]

Schedule of Impact of Adoption of New Revenue Recognition Standard

	Three Months Ended March 31, 2018
	As Reported				Previous Revenue Recognition Method
		$		$ Per mcfe		$		$ Per mcfe		Increase		$ Per mcfe
Revenues:
Natural gas, NGLs and oil sales	$	696,629	$	3.53	$	658,802	$	3.34	$	37,827	$	0.19
Costs and expenses:
Transportation, gathering, processing and compression	$	244,628	$	1.24	$	206,801	$	1.05	$	37,827	$	0.19
Net income	$	49,238			$	49,238			$	—

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income Tax Expense

Income tax expense was as follows (in thousands):

		Three Months Ended March 31,
		2018			2017
Income tax expense	$	42,676		$	112,395
Effective tax rate		46.4	%		39.8	%

Summary of Differences In Effective Tax Rate and Federal Statutory Rate Due to State Income Taxes, Equity Compensation and Other Tax Items

For first quarter ended March 31, 2018 and 2017, our overall effective tax rate was different than the federal statutory rate due primarily to state income taxes (including adjustments to state income tax valuation allowances), equity compensation and other tax items which are detailed below (in thousands).

		Three Months Ended March 31,
		2018			2017
Total income before income taxes	$	91,914		$	282,506
U.S. federal statutory rate		21	%		35	%
Total tax expense at statutory rate		19,302			98,877

State and local income taxes, net of federal benefit		4,494			8,982
Non-deductible executive compensation		262			140
Tax less than book equity compensation		664			2,524
Change in valuation allowances:
Federal net operating loss carryforwards & other		—			856
State net operating loss carryforwards & other		15,678			2,086
Rabbi trust and other		1,381			(1,122	)
Permanent differences and other		895			52
Total expense for income taxes	$	42,676		$	112,395
Effective tax rate		46.4	%		39.8	%

Income Per Common Share (Tables)

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Computations of Basic and Diluted Income Loss Per Common Share

		Three Months Ended March 31,
		2018			2017
Net income, as reported	$	49,238		$	170,111
Participating earnings ^(a)		(568	)		(1,882	)
Basic net income attributed to common shareholders		48,670			168,229
Reallocation of participating earnings ^(a)		2			1
Diluted net income attributed to common shareholders	$	48,672		$	168,230
Net income per common share:
Basic	$	0.20		$	0.69
Diluted	$	0.20		$	0.69

^(a)

Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Common Shares Outstanding

The following table provides a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands):

	Three Months Ended March 31,
	2018	2017
Weighted average common shares outstanding-basic	245,709	244,652
Effect of dilutive securities:
Director and employee restricted stock and performance-based equity awards	885	151
Weighted average common shares outstanding-diluted	246,594	244,803

Indebtedness (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Debt Outstanding


		March 31, 2018			December 31, 2017
Bank debt (3.4%)	$	1,182,000		$	1,211,000
Senior notes:
4.875% senior notes due 2025		750,000			750,000
5.00% senior notes due 2023		741,531			741,531
5.00% senior notes due 2022		580,032			580,032
5.75% senior notes due 2021		475,952			475,952
5.875% senior notes due 2022		329,244			329,244
Other senior notes due 2022		590			590
Total senior notes		2,877,349			2,877,349
Senior subordinated notes:
5.00% senior subordinated notes due 2023		7,712			7,712
5.00% senior subordinated notes due 2022		19,054			19,054
5.75% senior subordinated notes due 2021		22,214			22,214
Total senior subordinated notes		48,980			48,980
Total debt		4,108,329			4,137,329
Unamortized premium		5,712			6,027
Unamortized debt issuance costs		(32,347	)		(34,550	)
Total debt net of debt issuance costs	$	4,081,694		$	4,108,806

Summary of Senior Notes Principal Subsequent to Debt Exchange


		Principal Amount

5.00% senior notes due 2023	$	741,531
5.00% senior notes due 2022	$	580,032
5.75% senior notes due 2021	$	475,952

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Asset Retirement Obligations (Tables)

3 Months Ended

Mar. 31, 2018

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation

A reconciliation of our liability for plugging and abandonment costs for the three months ended March 31, 2018 is as follows (in thousands):

	Three Months Ended March 31, 2018
Beginning of period	$	276,855
Liabilities incurred		1,258
Liabilities settled		(829	)
Accretion expense		4,247
Change in estimate		3,805
End of period		285,336
Less current portion		(6,327	)
Long-term asset retirement obligations	$	279,009

Capital Stock (Tables)

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Capital Stock

The following is a schedule of changes in the number of common shares outstanding since the beginning of 2017:

	Three Months Ended March 31, 2018		Year Ended December 31, 2017
Beginning balance		248,129,430		247,144,356
Restricted stock grants		673,791		539,096
Restricted stock units vested		397,774		344,937
Performance stock units issued		20,430		85,461
Treasury shares issued		895		15,580
Ending balance		249,222,320		248,129,430

Derivative Activities (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Volumes Hedged and Average Hedge Prices

The following table sets forth our commodity-based derivative volumes by year as of March 31, 2018, excluding our basis and freight swaps which are discussed separately below:

Period	Contract Type	Volume Hedged	Weighted Average Hedge Price
Natural Gas
2018	Swaps	1,001,127 Mmbtu/day		$ 2.96
2019	Swaps	324,658 Mmbtu/day		$ 2.82
October-December 2018	Calls	70,000 Mmbtu/day		$ 3.10 ⁽¹⁾
2018	Swaptions	160,000 Mmbtu/day		$ 3.07 ⁽²⁾
2019	Swaptions	170,137 Mmbtu/day		$ 2.92 ⁽²⁾


Crude Oil
2018	Swaps	8,748 bbls/day		$ 53.25
2019	Swaps	5,872 bbls/day		$ 53.73
January-June 2020	Swaps	250 bbls/day		$ 55.00

NGLs (C2-Ethane)
2018	Swaps	250 bbls/day		$ 0.29/gallon

NGLs (C3-Propane)
2018	Swaps	7,451 bbls/day		$ 0.68/gallon

NGLs (NC4-Normal Butane)
2018	Swaps	4,333 bbls/day		$ 0.81/gallon

NGLs (C5-Natural Gasoline)
2018	Swaps	4,904 bbls/day		$ 1.21/gallon
January-June 2019	Swaps	1,000 bbls/day		$ 1.24/gallon

⁽¹⁾	Weightedaverage deferred premium of $0.16.

⁽²⁾

Combined Fair Value of Derivatives, by Consolidated Balance Sheets

		March 31, 2018
		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet			Net Amounts of Assets Presented in the Balance Sheet
Derivative assets:
Natural gas	–swaps	$	43,074	$	(13,076	)	$	29,998
	–swaptions		20,159		(13,927	)		6,232
	–basis swaps		3,150		(449	)		2,701
	–calls		—		(365	)		(365	)
Crude oil	–swaps		31		(9,497	)		(9,466	)
NGLs	–C2 ethane swaps		24		—			24
	–C3 propane swaps		500		(3,671	)		(3,171	)
	–C3 propane spread swaps		9,913		(9,913	)		—
	–NC4 butane swaps		10		(1,489	)		(1,479	)
	–C5 natural gasoline swaps		—		(1,342	)		(1,342	)
		$	76,861	$	(53,729	)	$	23,132

		March 31, 2018
		Gross Amounts of Recognized (Liabilities)			Gross Amounts Offset in the Balance Sheet		Net Amounts of (Liabilities) Presented in the Balance Sheet
Derivative (liabilities):
Natural gas	–swaps	$	(7,255	)	$	13,076	$	5,821
	–swaptions		(10,026	)		13,927		3,901
	–basis swaps		(990	)		449		(541	)
	–calls		(853	)		365		(488	)
Crude oil	–swaps		(34,097	)		9,497		(24,600	)
NGLs	–C3 propane swaps		(15,573	)		3,671		(11,902	)
	–C3 propane spread swaps		(11,286	)		9,914		(1,372	)
	–NC4 butane swaps		(4,093	)		1,488		(2,605	)
	–C5 natural gasoline swaps		(11,760	)		1,342		(10,418	)
Freight	–swaps		(34	)		—		(34	)
		$	(95,967	)	$	53,729	$	(42,238	)

		December 31, 2017
		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet			Net Amounts of Assets Presented in the Balance Sheet
Derivative assets:
Natural gas	–swaps	$	87,794	$	(4,106	)	$	83,688
	–swaptions		18,817		(8,103	)		10,714
	–basis swaps		1,815		(6,673	)		(4,858	)
	–collars		3,039		(500	)		2,539
Crude oil	–swaps		2		(7,928	)		(7,926	)
NGLs	–C2 ethane swaps		57		—			57
	–C3 propane swaps		—		(12,556	)		(12,556	)
	–C3 propane collars		85		(85	)		—
	–C3 propane spread swaps		12,762		(12,762	)		—
	–NC4 butane swaps		—		(6,051	)		(6,051	)
	–C5 natural gasoline swaps		—		(6,727	)		(6,727	)
Freight	–swaps		276		(276	)		—
		$	124,647	$	(65,767	)	$	58,880

		December 31, 2017
		Gross Amounts of Recognized (Liabilities)			Gross Amounts Offset in the Balance Sheet		Net Amounts of (Liabilities) Presented in the Balance Sheet
Derivative (liabilities):
Natural gas	–swaps	$	(216	)	$	4,106	$	3,890
	–swaptions		(12,283	)		8,103		(4,180	)
	–basis swaps		(9,580	)		6,673		(2,907	)
	–collars		—			500		500
Crude oil	–swaps		(24,726	)		7,928		(16,798	)
NGLs	–C3 propane swaps		(34,325	)		12,556		(21,769	)
	–C3 propane collars		—			85		85
	–C3 propane spread swaps		(13,983	)		12,762		(1,221	)
	–NC4 butane swaps		(11,188	)		6,051		(5,137	)
	–C5 natural gasoline swaps		(13,488	)		6,727		(6,761	)
Freight	–swaps		—			276		276
		$	(119,789	)	$	65,767	$	(54,022	)

Effects of Derivatives on Consolidated Statements of Operations

The effects of our derivatives on our consolidated statements of operations are summarized below (in thousands):

		Derivative Fair Value (Loss) Income
		Three Months Ended March 31,
		2018			2017
Commodity swaps	$	(16,536	)	$	166,752
Swaptions		3,599			—
Collars		(77	)		9,475
Puts		—			6,707
Calls		177			510
Basis swaps		(864	)		(17,972	)
Freight swaps		(308	)		85
Total	$	(14,009	)	$	165,557

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41641-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41678-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41638-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579240-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41620-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value

	Fair Value Measurements at March 31, 2018 using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total Carrying Value as of March 31, 2018
Trading securities held in the deferred compensation plans	$	67,673	$	—		$	—	$	67,673
Derivatives –swaps		—		(29,140	)		—		(29,140	)
–calls		—		(853	)		—		(853	)
–basis swaps		—		749			39		788
–freight swaps		—		(34	)		—		(34	)
–swaptions		—		—			10,133		10,133

		Fair Value Measurements at December 31, 2017 using:
		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total Carrying Value as of December 31, 2017
Trading securities held in the deferred compensation plans		$	67,117	$	—		$	—	$	67,117
Derivatives	–swaps		—		3,910			—		3,910
	–collars		—		3,039			85		3,124
	–basis swaps		—		(9,025	)		39		(8,986	)
	–freight swaps		—		276			—		276
	–swaptions		—		—			6,534		6,534

Reconciliation of the Beginning and Ending Balances for Derivative Instruments Classified as Level 3 in the Fair Value Hierarchy

The following is a reconciliation of the beginning and ending balances for derivative instruments classified as Level 3 in the fair value hierarchy (in thousands):

	As of March 31, 2018
Balance at December 31, 2017	$	6,658
Total gain (losses):
Included in earnings		2,857
Settlements		2,799
Transfer out of Level 3 ⁽¹⁾		(2,142	)
Balance at March 31, 2018	$	10,172

⁽¹⁾ During first quarter 2018, we transferred $2.1 million of swaption contracts out of Level 3 resulting from the exercise of our Level 3 swaptions by the counterparties.

Value of Assets Measured at Fair Value on Nonrecurring Basis

The following table presents the value of these assets measured at fair value on a non-recurring basis at the time impairment was recorded (in thousands):

Three Months Ended

March 31, 2018

Fair Value

Impairment

Natural gas and oil properties

32,516

7,312

Carrying Amounts and Fair Values of Financial Instruments

The following table presents the carrying amounts and the fair values of our financial instruments as of March 31, 2018 and December 31, 2017 (in thousands):

	March 31, 2018						December 31, 2017
	Carrying Value			Fair Value			Carrying Value			Fair Value
Assets:
Commodity swaps, options and basis swaps	$	23,132		$	23,132		$	58,880		$	58,880
Marketable securities ^(a)		67,673			67,673			67,117			67,117
(Liabilities):
Commodity swaps, options and basis swaps		(42,238	)		(42,238	)		(54,022	)		(54,022	)
Bank credit facility ^(b)		(1,182,000	)		(1,182,000	)		(1,211,000	)		(1,211,000	)
5.75% senior notes due 2021 ^(b)		(475,952	)		(485,381	)		(475,952	)		(493,872	)
5.00% senior notes due 2022 ^(b)		(580,032	)		(561,633	)		(580,032	)		(578,727	)
5.875% senior notes due 2022 ^(b)		(329,244	)		(330,610	)		(329,244	)		(339,200	)
Other senior notes due 2022 ^(b)		(590	)		(582	)		(590	)		(591	)
5.00% senior notes due 2023 ^(b)		(741,531	)		(711,143	)		(741,531	)		(735,614	)
4.875% senior notes due 2025 ^(b)		(750,000	)		(694,800	)		(750,000	)		(733,755	)
5.75% senior subordinated notes due 2021 ^(b)		(22,214	)		(22,630	)		(22,214	)		(22,192	)
5.00% senior subordinated notes due 2022 ^(b)		(19,054	)		(18,436	)		(19,054	)		(18,741	)
5.00% senior subordinated notes due 2023 ^(b)		(7,712	)		(7,355	)		(7,712	)		(7,614	)
Deferred compensation plan ^(c)		(114,806	)		(114,806	)		(114,414	)		(114,414	)

^(a)	Marketable securities, which are held in our deferred compensation plans, are actively traded on major exchanges.

^(b)	The book value of our bank debt approximates fair value because of its floating rate structure. The fair value of our senior notes and our senior subordinated notes is based on end of period market quotes which are Level 2 inputs.

^(c)	The fair value of our deferred compensation plan is updated at the closing price on the balance sheet date which is a Level 1 input.

Revenues from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2018

Revenue From Contract With Customer [Abstract]

Disaggregation of Revenue

Revenue attributable to each of our identified revenue streams is disaggregated in the table below (in thousands):

		Three Months Ended March 31, 2018
Natural gas sales ^(a)	$	491,248
NGLs sales ^(b)		202,831
Oil sales		62,529
Total	$	756,608

^(a) Natural gas sales revenue reported above includes $55.9 million of brokered revenues and $3.8 million of marketing revenue.

^(b) NGLs sales revenue reported above includes $304,000 of brokered revenues.

Stock-based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2018

Allocation of Stock-Based Compensation by Functional Category

The following table details the allocation of stock-based compensation to functional expense categories (in thousands):

		Three Months Ended March 31,
		2018 ⁽¹⁾		2017
Direct operating expense	$	591	$	524
Brokered natural gas and marketing expense		285		263
Exploration expense		751		507
General and administrative expense		23,911		10,918
Termination costs		—		1,742
Total stock-based compensation	$	25,538	$	13,954

⁽¹⁾ Includes $18.2 million accelerated vesting of equity grants.

Restricted Stock and Restricted Stock Units Outstanding

The following is a summary of the status of our non-vested restricted stock outstanding at March 31, 2018:

	Restricted Stock Equity Awards					Restricted Stock Liability Awards
	Shares			Weighted Average Grant Date Fair Value		Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2017		833,058		$	31.64		55,202		$	32.26
Granted		1,783,446			17.00		673,791			15.21
Vested		(235,844	)		25.56		(548,986	)		15.51
Forfeited		(71,046	)		22.45		—			—
Outstanding at March 31, 2018		2,309,614		$	21.24		180,007		$	19.54

Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions

The following assumptions were used to estimate the fair value of PSUs granted during the first quarter 2018 and 2017:


	Three Months Ended March 31,
	2018			2017
Risk-free interest rate		2.42	%		1.52	%
Expected annual volatility		47	%		45	%
Grant date fair value per unit	$	18.51		$	28.31

Stock Option and SARs Activities

Information with respect to our SARs activities is summarized below.

	Shares			Weighted Average Exercise Price
Outstanding at December 31, 2017		382,779		$	76.54
Expired/forfeited		(45,572	)		71.03
Outstanding at March 31, 2018		337,207		$	77.28

Performance-based PG-PSUs and RG-PSUs

Summary of Non-Vested Awards Activities

The following is a summary of our non-vested PG/RG-PSUs awards outstanding at March 31, 2018:


	Number of Units			Weighted Average Grant Date Fair Value of Range Stock
Outstanding at December 31, 2017	122,921		$	18.66
Units granted ^(a)	440,938			15.22
Forfeited ^(b)	(20,488	)		25.53
Outstanding at March 31, 2018	543,371		$	15.61

^(a)

^(b)

The first of three tranches of PG-PSUs granted in 2017 are considered forfeited as the performance metric was not met.

Performance Based TSR - PSUs

Summary of Non-Vested Awards Activities

The following is a summary of our non-vested TSR – PSUs award activities:

	Number of Units			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2017		1,009,842		$	38.38
Granted ^(a)		329,486			18.51
Vested and issued ^(b)		(20,430	)		55.17
Forfeited		(43,401	)		55.17
Outstanding at March 31, 2018		1,275,497		$	32.41

Supplemental Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2018

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

	Three Months Ended March 31,
	2018			2017
	(in thousands)
Net cash provided from operating activities included:
Income taxes refunded from taxing authorities	$	7,518		$	—
Interest paid		(57,536	)		(43,864	)
Non-cash investing and financing activities included:
Increase in asset retirement costs capitalized		5,063			1,715
(Decrease) increase in accrued capital expenditures		(77,365	)		39,569

Office Closing and Termination Costs (Tables)

3 Months Ended

Mar. 31, 2018

Restructuring And Related Activities [Abstract]

Summary of Termination Costs

The following summarizes our termination costs for the three months ended March 31, 2018 and 2017 (in thousands):

		Three Months Ended March 31,
		2018			2017
Severance costs	$	—		$	2,422
Building lease		(37	)		28
Stock-based compensation		—			1,742
Total termination costs	$	(37	)	$	4,192

Exit Costs Included in Accrued Liabilities in Consolidated Balance Sheet

The following details our accrued liability as of March 31, 2018 (in thousands):

		March 31, 2018
Beginning balance at December 31, 2017	$	1,855
Accrued building rent		(37	)
Payments		(252	)
Ending balance at March 31, 2018	$	1,566

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization (Tables)

3 Months Ended

Mar. 31, 2018

Capitalized Costs and Accumulated Depreciation, Depletion and Amortization

	March 31, 2018			December 31, 2017
	(in thousands)
Natural gas and oil properties:
Properties subject to depletion	$	10,808,673		$	10,572,453
Unproved properties		2,648,981			2,644,000
Total		13,457,654			13,216,453
Accumulated depreciation, depletion and amortization		(3,807,356	)		(3,649,716	)
Net capitalized costs	$	9,650,298		$	9,566,737

^(a)

Includes capitalized asset retirement costs and the associated accumulated amortization.

Costs Incurred for Property Acquisition, Exploration and Development (Tables)

3 Months Ended

Mar. 31, 2018

Costs Incurred for Property Acquisition, Exploration and Development

	Three Months Ended March 31, 2018		Year Ended December 31, 2017
	(in thousands)
Acquisitions:
Acreage purchases	$	19,705	$	62,075
Oil and gas properties		—		18,269
Development		225,033		1,177,526
Exploration:
Drilling		1,855		2,030
Expense		6,968		50,920
Stock-based compensation expense		751		2,742
Gas gathering facilities:
Development		8,590		15,097
Subtotal		262,902		1,328,659
Asset retirement obligations		5,063		20,245
Total costs incurred	$	267,965	$	1,348,904

^(a)

Includes costs incurred whether capitalized or expensed.

Basis of Presentation - Inventory - Additional Information (Detail) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Inventory [Line Items]
Inventory and other	$ 30,064,000	$ 21,346,000
Materials and supplies inventory
Inventory [Line Items]
Inventory and other	9,900,000	12,100,000
Commodity inventory
Inventory [Line Items]
Inventory and other	$ 5,800,000	$ 508,000

New Accounting Standards - Schedule of Impact of Adoption of New Revenue Recognition Standard (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($) $ / Mcfe	Mar. 31, 2017 USD ($)
Revenues and other income:
Natural gas, NGLs and oil sales	$ 696,629	$ 559,450
Natural gas, NGLs and oil sales (in dollars per share) \| $ / Mcfe	3.53
Costs and expenses:
Transportation, gathering, processing and compression	$ 244,628	177,648
Transportation, gathering, processing and compression (in dollars per share) \| $ / Mcfe	1.24
Net income	$ 49,238	$ 170,111
Accounting Standards Update 2014-09 \| Previous Revenue Recognition
Revenues and other income:
Natural gas, NGLs and oil sales	$ 658,802
Natural gas, NGLs and oil sales (in dollars per share) \| $ / Mcfe	3.34
Costs and expenses:
Transportation, gathering, processing and compression	$ 206,801
Transportation, gathering, processing and compression (in dollars per share) \| $ / Mcfe	1.05
Net income	$ 49,238
Accounting Standards Update 2014-09 \| Increase
Revenues and other income:
Natural gas, NGLs and oil sales	$ 37,827
Natural gas, NGLs and oil sales (in dollars per share) \| $ / Mcfe	0.19
Costs and expenses:
Transportation, gathering, processing and compression	$ 37,827
Transportation, gathering, processing and compression (in dollars per share) \| $ / Mcfe	0.19
Net income	$ 0

Dispositions - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
(Loss) gain on the sale of assets	$ 23,000	$ 22,600,000
Miscellaneous Proved, Unproved Properties and Surface Acreage
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
(Loss) gain on the sale of assets	23,000	69,000
Proceeds from sale of oil and gas properties	$ 40,000	53,000
Western Oklahoma Property
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
(Loss) gain on the sale of assets		22,500,000
Proceeds from sale of oil and gas properties		$ 26,000,000

Income Taxes - Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Components Of Income Tax Expense Benefit Continuing Operations [Abstract]
Income tax expense	$ 42,676	$ 112,395
Effective tax rate	46.40%	39.80%

Income Taxes - Summary of Differences In Effective Tax Rate and Federal Statutory Rate Due to State Income Taxes, Equity Compensation and Other Tax Items (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Total income before income taxes	$ 91,914	$ 282,506
U.S. federal statutory rate	21.00%	35.00%
Total tax expense at statutory rate	$ 19,302	$ 98,877
State and local income taxes, net of federal benefit	4,494	8,982
Non-deductible executive compensation	262	140
Tax less than book equity compensation	664	2,524
Change in valuation allowances:
Federal net operating loss carryforwards & other	0	856
State net operating loss carryforwards & other	15,678	2,086
Rabbi trust and other	1,381	(1,122)
Permanent differences and other	895	52
Total (benefit) expense for income taxes	$ 42,676	$ 112,395
Effective tax rate	46.40%	39.80%

Income Taxes - Additional Information (Detail)	3 Months Ended
Income Taxes - Additional Information (Detail)	Mar. 31, 2018	Mar. 31, 2017
Income Taxes [Line Items]
Corporate tax rate	21.00%	35.00%
Amendment on Internal Revenue Code of 1986
Income Taxes [Line Items]
Corporate tax rate	21.00%

Income Per Common Share - Computations of Basic and Diluted Income Loss Per Common Share (Detail) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Earnings Per Share Reconciliation [Abstract]

Net income, as reported

$ 49,238

$ 170,111

Participating earnings

^[1]

(568)

(1,882)

Basic net income attributed to common shareholders

48,670

168,229

Reallocation of participating earnings

^[1]

Diluted net income attributed to common shareholders

$ 48,672

$ 168,230

Net income per common share:

Basic

$ 0.20

$ 0.69

Diluted

$ 0.20

$ 0.69

[1]

Income Per Common Share - Basic Weighted Average Common Shares Outstanding to Diluted Weighted Average Common Shares Outstanding (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Weighted average common shares outstanding -basic	245,709	244,652
Effect of dilutive securities:
Director and employee restricted stock and performance-based equity awards	885	151
Weighted average common shares outstanding-diluted	246,594	244,803

Income Per Common Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Stock excluded from earning per share calculation	2.9	2.7
Equity Grants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Stock excluded from earning per share calculation	1.5	1.6

Suspended Exploratory Well Costs - Additional Information (Detail) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Extractive Industries [Abstract]
Suspended exploratory well costs	$ 0	$ 0

Indebtedness - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Interest capitalized during the period	$ 0	$ 0

Indebtedness - Debt Outstanding (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Senior notes	$ 2,877,349	$ 2,877,349
Senior subordinated notes	48,980	48,980
Total debt	4,108,329	4,137,329
Unamortized premium	5,712	6,027
Unamortized debt issuance costs	(32,347)	(34,550)
Total debt net of debt issuance costs	4,081,694	4,108,806
3.4% Bank Debt \| Notes Payable to Banks
Debt Instrument [Line Items]
Bank debt (3.4%)	1,182,000	1,211,000
4.875% Senior Notes Due 2025
Debt Instrument [Line Items]
Senior notes	750,000	750,000
5.00% Senior Notes Due 2023
Debt Instrument [Line Items]
Senior notes	741,531	741,531
5.00% Senior Notes Due 2022
Debt Instrument [Line Items]
Senior notes	580,032	580,032
5.75% Senior Notes Due 2021
Debt Instrument [Line Items]
Senior notes	475,952	475,952
5.875% Senior Notes Due 2022
Debt Instrument [Line Items]
Senior notes	329,244	329,244
Other Senior Notes Due 2022
Debt Instrument [Line Items]
Senior notes	590	590
5.00% Senior Subordinated Notes Due 2023
Debt Instrument [Line Items]
Senior subordinated notes	7,712	7,712
5.00% Senior Subordinated Notes Due 2022
Debt Instrument [Line Items]
Senior subordinated notes	19,054	19,054
5.75% Senior Subordinated Notes Due 2021
Debt Instrument [Line Items]
Senior subordinated notes	$ 22,214	$ 22,214

Indebtedness - Debt Outstanding (Parenthetical) (Detail)	Mar. 31, 2018	Dec. 31, 2017	Oct. 05, 2017	Sep. 30, 2016
4.875% Senior Notes Due 2025
Debt Instrument [Line Items]
Interest rate on notes	4.875%	4.875%
5.00% Senior Notes Due 2023
Debt Instrument [Line Items]
Interest rate on notes	5.00%	5.00%	5.00%	5.00%
5.00% Senior Notes Due 2022
Debt Instrument [Line Items]
Interest rate on notes	5.00%	5.00%	5.00%	5.00%
5.75% Senior Notes Due 2021
Debt Instrument [Line Items]
Interest rate on notes	5.75%	5.75%	5.75%	5.75%
5.875% Senior Notes Due 2022
Debt Instrument [Line Items]
Interest rate on notes	5.875%	5.875%	5.875%
5.00% Senior Subordinated Notes Due 2023
Debt Instrument [Line Items]
Interest rate on notes	5.00%	5.00%
5.00% Senior Subordinated Notes Due 2022
Debt Instrument [Line Items]
Interest rate on notes	5.00%	5.00%
5.75% Senior Subordinated Notes Due 2021
Debt Instrument [Line Items]
Interest rate on notes	5.75%	5.75%
Notes Payable to Banks \| 3.4% Bank Debt
Debt Instrument [Line Items]
Bank debt percentage	3.40%	3.40%

Indebtedness - Bank Debt - Additional Information (Detail) - Bank Credit Facility	3 Months Ended
	Mar. 31, 2018 USD ($) CommercialBank	Mar. 31, 2017	Apr. 13, 2018 USD ($) CommercialBank	Mar. 21, 2017 USD ($)
Debt Instrument [Line Items]
Bank Credit facility, maximum amount	$ 4,000,000,000
Bank Credit facility, borrowing base				$ 3,000,000,000
Bank commitments				$ 2,000,000,000
Percentage holding of commercial banks, Maximum	5.80%
Number of commercial banks included in current bank group \| CommercialBank	29
Maturity date of loan	Oct. 16, 2019
Bank debt	$ 1,200,000,000
Undrawn letters of credit	281,400,000
Borrowing capacity available under the commitment amount	$ 536,600,000
Weighted average interest rate on the bank credit facility	3.40%	2.40%
Annual rate of commitment fee paid on the undrawn balance	0.30%
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, initiation date	Apr. 13, 2018
Line of credit facility, maturity date	Apr. 13, 2023
Credit Facility \| Subsequent Event
Debt Instrument [Line Items]
Bank Credit facility, maximum amount			$ 4,000,000,000
Percentage holding of commercial banks, Maximum			5.80%
Number of commercial banks included in current bank group \| CommercialBank			27
Alternate Base Rate
Debt Instrument [Line Items]
Interest rate margin	0.50%
LIBOR Rate
Debt Instrument [Line Items]
Interest rate margin	1.50%
Minimum
Debt Instrument [Line Items]
Annual rate of commitment fee paid on the undrawn balance	0.30%
Minimum \| Credit Facility
Debt Instrument [Line Items]
Annual rate of commitment fee paid on the undrawn balance	0.15%
Minimum \| Alternate Base Rate
Debt Instrument [Line Items]
Base rate on debt	0.25%
Minimum \| Alternate Base Rate \| Credit Facility
Debt Instrument [Line Items]
Base rate on debt	0.125%
Minimum \| LIBOR Rate
Debt Instrument [Line Items]
Base rate on debt	1.25%
Minimum \| LIBOR Rate \| Credit Facility
Debt Instrument [Line Items]
Base rate on debt	1.125%
Maximum
Debt Instrument [Line Items]
Annual rate of commitment fee paid on the undrawn balance	0.375%
Maximum \| Credit Facility
Debt Instrument [Line Items]
Annual rate of commitment fee paid on the undrawn balance	0.30%
Maximum \| Alternate Base Rate
Debt Instrument [Line Items]
Base rate on debt	1.25%
Maximum \| Alternate Base Rate \| Credit Facility
Debt Instrument [Line Items]
Base rate on debt	0.75%
Maximum \| LIBOR Rate
Debt Instrument [Line Items]
Base rate on debt	2.25%
Maximum \| LIBOR Rate \| Credit Facility
Debt Instrument [Line Items]
Base rate on debt	1.75%

Indebtedness - Senior Notes - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Sep. 30, 2016	Mar. 31, 2018	Dec. 31, 2017	Oct. 05, 2017
Senior Notes
Debt Instrument [Line Items]
Maximum redemption price of notes as percentage of principal amount		101.00%
5.875% Senior Notes Due 2022
Debt Instrument [Line Items]
Interest rate on notes		5.875%	5.875%	5.875%
5.875% Senior Notes Due 2022 \| Senior Notes Exchange Offer \| Unsecured Debt
Debt Instrument [Line Items]
Senior notes exchange amount	$ 329,200
Interest rate on notes	5.875%
5.00% Senior Notes Due 2023
Debt Instrument [Line Items]
Senior notes exchange amount	$ 741,531
Interest rate on notes	5.00%	5.00%	5.00%	5.00%
5.00% Senior Notes Due 2022
Debt Instrument [Line Items]
Senior notes exchange amount	$ 580,032
Interest rate on notes	5.00%	5.00%	5.00%	5.00%
5.75% Senior Notes Due 2021
Debt Instrument [Line Items]
Senior notes exchange amount	$ 475,952
Interest rate on notes	5.75%	5.75%	5.75%	5.75%

Indebtedness - Summary of Debt Exchange Offer to Exchange Senior Subordinated Notes (Detail) $ in Thousands	1 Months Ended
	Sep. 30, 2016 USD ($)
5.00% Senior Notes Due 2023
Debt Instrument [Line Items]
Senior notes	$ 741,531
5.00% Senior Notes Due 2022
Debt Instrument [Line Items]
Senior notes	580,032
5.75% Senior Notes Due 2021
Debt Instrument [Line Items]
Senior notes	$ 475,952

Indebtedness - Summary of Debt Exchange Offer to Exchange Senior Subordinated Notes (Parenthetical) (Detail)	Mar. 31, 2018	Dec. 31, 2017	Oct. 05, 2017	Sep. 30, 2016
5.00% Senior Notes Due 2023
Debt Instrument [Line Items]
Interest rate on notes	5.00%	5.00%	5.00%	5.00%
5.00% Senior Notes Due 2022
Debt Instrument [Line Items]
Interest rate on notes	5.00%	5.00%	5.00%	5.00%
5.75% Senior Notes Due 2021
Debt Instrument [Line Items]
Interest rate on notes	5.75%	5.75%	5.75%	5.75%

Indebtedness - Senior Subordinated Notes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018
Subordinated Debt
Debt Instrument [Line Items]
Maximum redemption price of notes as percentage of principal amount	101.00%

Indebtedness - Guarantees and Debt Covenants - Additional Information (Detail) - Bank Credit Facility	3 Months Ended
	Mar. 31, 2018
Debt Instrument [Line Items]
Debt instrument, Covenant compliance	Our bank credit facility contains negative covenants that limit our ability, among other things, to pay cash dividends, incur additional indebtedness, sell assets, enter into certain hedging contracts, change the nature of our business or operations, merge, consolidate, or make certain investments. In addition, we are required to maintain a ratio of EBITDAX (as defined in the bank credit facility agreement) to cash interest expense of equal to or greater than 2.5 and a current ratio (as defined in the bank credit facility agreement) of no less than 1.0. In addition, the ratio of the present value of proved reserves (as defined in the credit agreement) to total debt must be equal to or greater than 1.5 until Range has two investment grade ratings. We were in compliance with applicable covenants under the bank credit facility at March 31, 2018.
Maximum
Debt Instrument [Line Items]
Ratio of debt to EBITDAX	250.00%
Present value of proved reserves to total debt	150.00%
Minimum
Debt Instrument [Line Items]
Current ratio	100.00%

Asset Retirement Obligations - Asset Retirement Obligations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Asset Retirement Obligation [Abstract]
Beginning of period	$ 276,855
Liabilities incurred	1,258
Liabilities settled	(829)
Accretion expense	4,247
Change in estimate	3,805
End of period	285,336
Less current portion	(6,327)	$ (6,327)
Long-term asset retirement obligations	$ 279,009

Capital Stock - Additional Information (Detail) - shares	Mar. 31, 2018	Dec. 31, 2017
Class Of Stock Disclosures [Abstract]
Authorized capital stock	485,000,000	485,000,000
Common stock, shares authorized	475,000,000	475,000,000
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Capital Stock (Detail) - shares	3 Months Ended	12 Months Ended
Capital Stock (Detail) - shares	Mar. 31, 2018	Dec. 31, 2017
Class Of Stock [Line Items]
Beginning balance	248,129,430	247,144,356
Restricted stock grants	673,791	539,096
Treasury shares issued	895	15,580
Ending balance	249,222,320	248,129,430
Restricted Stock
Class Of Stock [Line Items]
Restricted stock units vested	397,774	344,937
Performance Share
Class Of Stock [Line Items]
Performance stock units issued	20,430	85,461

Derivative Activities - Additional Information (Detail)	Mar. 31, 2018 USD ($) t_per_M MMBTU bbl
Derivatives Excluding Basis Swaps and Freight Swaps
Derivative [Line Items]
Derivative assets liabilities at fair value net	$ (19,900,000)
Commodity \| Basis Swaps \| Natural Gas
Derivative [Line Items]
Derivative assets liabilities at fair value net	$ 2,200,000
Volume Hedged \| MMBTU	91,440,000
Commodity \| Basis Swaps \| Propane
Derivative [Line Items]
Derivative assets liabilities at fair value net	$ (1,400,000)
Commodity \| Swaps \| Freight \| Level 2
Derivative [Line Items]
Derivative assets liabilities at fair value net	$ (34,000)
Volume Hedged \| t_per_M	5,000
2019 Commodity Contract \| Basis Swaps \| Propane
Derivative [Line Items]
Volume Hedged \| bbl	2,063,000

Derivative Activities - Derivative Volumes Hedged and Average Hedge Prices (Detail)

Mar. 31, 2018

MMBTU / d

bbl / d

$ / MMBTU

$ / bbl

$ / gal

2018 Commodity Contract | Swaps | Natural Gas

1,001,127

2018 Commodity Contract | Swaps | Crude Oil

2.96

Weighted Average Hedge Price | $ / bbl

8,748

53.25

2018 Commodity Contract | Swaps | NGLs (C2-Ethane)

250

2018 Commodity Contract | Swaps | NGLs (C3-Propane)

0.29

7,451

2018 Commodity Contract | Swaps | NGLs (NC4-Normal Butane)

0.68

4,333

2018 Commodity Contract | Swaps | NGLs (C5-Natural Gasoline)

0.81

4,904

2018 Commodity Contract | Swaptions | Natural Gas

1.21

160,000

2019 Commodity Contract | Swaps | Natural Gas

3.07

^[1]

324,658

2019 Commodity Contract | Swaps | Crude Oil

2.82

Weighted Average Hedge Price | $ / bbl

5,872

53.73

2019 Commodity Contract | Swaptions | Natural Gas

170,137

October-December 2018 Commodity Contract | Calls | Natural Gas

2.92

^[1]

70,000

January-June 2020 Commodity Contract | Swaps | Crude Oil

3.10

^[2]

250

January-June 2019 Commodity Contract | Swaps | NGLs (C5-Natural Gasoline)

55.00

1,000

April-December 2018 Commodity Contract | Swaps | Counterparty Can Elect to Extend Contract

1.24

[1]

[2]

Weighted average deferred premium of $0.16.

Derivative Activities - Derivative Volumes Hedged and Average Hedge Prices (Parenthetical) (Detail) - Natural Gas

Mar. 31, 2018

MMBTU / d

$ / shares

$ / MMBTU

Weighted average price of hedge | $ / shares

160,000

3.07

2019 Commodity Contract | Swaps

Weighted average price of hedge | $ / MMBTU

324,658

2.82

2019 Commodity Contract | Swaps | Counterparty Can Elect to Extend Contract

Weighted average price of hedge | $ / shares

40,000

2.85

2019 Commodity Contract | Swaps | Counterparty Can Elect To Double Volume

Weighted average price of hedge | $ / shares

140,000

2.93

October-December 2018 Commodity Contract | Calls

Weighted average price of hedge | $ / MMBTU

70,000

3.10

^[1]

Weighted average deferred premium | $ / MMBTU

0.16

[1]	Weighted average deferred premium of $0.16.

Derivative Activities - Schedule of Additional Information Related to Master Netting Arrangements with Derivative Counterparties (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Gross Amounts of Recognized Assets	$ 76,861	$ 124,647
Gross Amounts Offset in the Balance Sheet	(53,729)	(65,767)
Net Amounts of Assets Presented in the Balance Sheet	23,132	58,880
Gross Amounts of Recognized (Liabilities)	(95,967)	(119,789)
Gross Amounts Offset in the Balance Sheet	53,729	65,767
Net Amounts of (Liabilities) Presented in the Balance Sheet	(42,238)	(54,022)
Commodity \| Swaps \| Natural Gas
Derivative [Line Items]
Gross Amounts of Recognized Assets	43,074	87,794
Gross Amounts Offset in the Balance Sheet	(13,076)	(4,106)
Net Amounts of Assets Presented in the Balance Sheet	29,998	83,688
Gross Amounts of Recognized (Liabilities)	(7,255)	(216)
Gross Amounts Offset in the Balance Sheet	13,076	4,106
Net Amounts of (Liabilities) Presented in the Balance Sheet	5,821	3,890
Commodity \| Swaps \| Crude Oil
Derivative [Line Items]
Gross Amounts of Recognized Assets	31	2
Gross Amounts Offset in the Balance Sheet	(9,497)	(7,928)
Net Amounts of Assets Presented in the Balance Sheet	(9,466)	(7,926)
Gross Amounts of Recognized (Liabilities)	(34,097)	(24,726)
Gross Amounts Offset in the Balance Sheet	9,497	7,928
Net Amounts of (Liabilities) Presented in the Balance Sheet	(24,600)	(16,798)
Commodity \| Swaps \| NGLs (C2-Ethane)
Derivative [Line Items]
Gross Amounts of Recognized Assets	24	57
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts of Assets Presented in the Balance Sheet	24	57
Commodity \| Swaps \| NGLs (C3-Propane)
Derivative [Line Items]
Gross Amounts of Recognized Assets	500	0
Gross Amounts Offset in the Balance Sheet	(3,671)	(12,556)
Net Amounts of Assets Presented in the Balance Sheet	(3,171)	(12,556)
Gross Amounts of Recognized (Liabilities)	(15,573)	(34,325)
Gross Amounts Offset in the Balance Sheet	3,671	12,556
Net Amounts of (Liabilities) Presented in the Balance Sheet	(11,902)	(21,769)
Commodity \| Swaps \| NGLs (NC4-Normal Butane)
Derivative [Line Items]
Gross Amounts of Recognized Assets	10	0
Gross Amounts Offset in the Balance Sheet	(1,489)	(6,051)
Net Amounts of Assets Presented in the Balance Sheet	(1,479)	(6,051)
Gross Amounts of Recognized (Liabilities)	(4,093)	(11,188)
Gross Amounts Offset in the Balance Sheet	1,488	6,051
Net Amounts of (Liabilities) Presented in the Balance Sheet	(2,605)	(5,137)
Commodity \| Swaps \| NGLs (C5-Natural Gasoline)
Derivative [Line Items]
Gross Amounts of Recognized Assets	0	0
Gross Amounts Offset in the Balance Sheet	(1,342)	(6,727)
Net Amounts of Assets Presented in the Balance Sheet	(1,342)	(6,727)
Gross Amounts of Recognized (Liabilities)	(11,760)	(13,488)
Gross Amounts Offset in the Balance Sheet	1,342	6,727
Net Amounts of (Liabilities) Presented in the Balance Sheet	(10,418)	(6,761)
Commodity \| Swaps \| Freight
Derivative [Line Items]
Gross Amounts of Recognized Assets		276
Gross Amounts Offset in the Balance Sheet		(276)
Net Amounts of Assets Presented in the Balance Sheet		0
Gross Amounts of Recognized (Liabilities)	(34)
Gross Amounts Offset in the Balance Sheet	0	276
Net Amounts of (Liabilities) Presented in the Balance Sheet	(34)	276
Commodity \| Swaptions \| Natural Gas
Derivative [Line Items]
Gross Amounts of Recognized Assets	20,159	18,817
Gross Amounts Offset in the Balance Sheet	(13,927)	(8,103)
Net Amounts of Assets Presented in the Balance Sheet	6,232	10,714
Gross Amounts of Recognized (Liabilities)	(10,026)	(12,283)
Gross Amounts Offset in the Balance Sheet	13,927	8,103
Net Amounts of (Liabilities) Presented in the Balance Sheet	3,901	(4,180)
Commodity \| Basis Swaps \| Natural Gas
Derivative [Line Items]
Gross Amounts of Recognized Assets	3,150	1,815
Gross Amounts Offset in the Balance Sheet	(449)	(6,673)
Net Amounts of Assets Presented in the Balance Sheet	2,701	(4,858)
Gross Amounts of Recognized (Liabilities)	(990)	(9,580)
Gross Amounts Offset in the Balance Sheet	449	6,673
Net Amounts of (Liabilities) Presented in the Balance Sheet	(541)	(2,907)
Commodity \| Calls \| Natural Gas
Derivative [Line Items]
Gross Amounts of Recognized Assets	0
Gross Amounts Offset in the Balance Sheet	(365)
Net Amounts of Assets Presented in the Balance Sheet	(365)
Gross Amounts of Recognized (Liabilities)	(853)
Gross Amounts Offset in the Balance Sheet	365
Net Amounts of (Liabilities) Presented in the Balance Sheet	(488)
Commodity \| Spread Swaps \| NGLs (C3-Propane)
Derivative [Line Items]
Gross Amounts of Recognized Assets	9,913	12,762
Gross Amounts Offset in the Balance Sheet	(9,913)	(12,762)
Net Amounts of Assets Presented in the Balance Sheet	0	0
Gross Amounts of Recognized (Liabilities)	(11,286)	(13,983)
Gross Amounts Offset in the Balance Sheet	9,914	12,762
Net Amounts of (Liabilities) Presented in the Balance Sheet	$ (1,372)	(1,221)
Commodity \| Collars \| Natural Gas
Derivative [Line Items]
Gross Amounts of Recognized Assets		3,039
Gross Amounts Offset in the Balance Sheet		(500)
Net Amounts of Assets Presented in the Balance Sheet		2,539
Gross Amounts Offset in the Balance Sheet		500
Net Amounts of (Liabilities) Presented in the Balance Sheet		500
Commodity \| Collars \| NGLs (C3-Propane)
Derivative [Line Items]
Gross Amounts of Recognized Assets		85
Gross Amounts Offset in the Balance Sheet		(85)
Net Amounts of Assets Presented in the Balance Sheet		0
Gross Amounts Offset in the Balance Sheet		85
Net Amounts of (Liabilities) Presented in the Balance Sheet		$ 85

Derivative Activities - Effects of Derivatives on Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative [Line Items]
Derivative Fair Value (Loss) Income	$ (14,009)	$ 165,557
Swaptions
Derivative [Line Items]
Derivative Fair Value (Loss) Income	3,599
Collars
Derivative [Line Items]
Derivative Fair Value (Loss) Income	(77)	9,475
Puts
Derivative [Line Items]
Derivative Fair Value (Loss) Income		6,707
Calls
Derivative [Line Items]
Derivative Fair Value (Loss) Income	177	510
Basis Swaps
Derivative [Line Items]
Derivative Fair Value (Loss) Income	(864)	(17,972)
Commodity \| Swaps
Derivative [Line Items]
Derivative Fair Value (Loss) Income	(16,536)	166,752
Freight \| Commodity \| Swaps
Derivative [Line Items]
Derivative Fair Value (Loss) Income	$ (308)	$ 85

Fair Value Measurements - Fair Value Hierarchy Table for Assets and Liabilities Measured at Fair Value (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities held in the deferred compensation plans	$ 67,673	$ 67,117
Fair Value, Inputs, Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities held in the deferred compensation plans	67,673	67,117
Swaps
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	(29,140)	3,910
Swaps \| Freight
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	(34)	276
Swaps \| Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	(29,140)	3,910
Swaps \| Fair Value, Inputs, Level 2 \| Freight
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	(34)	276
Calls
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	(853)
Calls \| Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	(853)
Basis Swaps
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	788	(8,986)
Basis Swaps \| Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	749	(9,025)
Basis Swaps \| Fair Value, Inputs, Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	39	39
Swaptions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	10,133	6,534
Swaptions \| Fair Value, Inputs, Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net	$ 10,133	6,534
Collars
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net		3,124
Collars \| Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net		3,039
Collars \| Fair Value, Inputs, Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative assets liabilities at fair value net		$ 85

Fair Value Measurements - Reconciliation of the Beginning and Ending Balances for Derivative Instruments Classified as Level 3 in the Fair Value Hierarchy (Detail) - Level 3
$ in Thousands

3 Months Ended

Mar. 31, 2018

USD ($)

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Balance at December 31, 2017

$ 6,658

Total gain (losses) included in earnings

2,857

Settlements

2,799

Transfer out of Level 3

(2,142)

^[1]

Balance at March 31, 2018

$ 10,172

[1]	During first quarter 2018, we transferred $2.1 million of swaption contracts out of Level 3 resulting from the exercise of our Level 3 swaptions by the counterparties.

Fair Value Measurements - Reconciliation of the Beginning and Ending Balances for Derivative Instruments Classified as Level 3 in the Fair Value Hierarchy (Parenthetical) (Detail) - Fair Value, Inputs, Level 3
$ in Thousands

3 Months Ended

Mar. 31, 2018

USD ($)

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Transfer out of Level 3

$ 2,142

^[1]

Swaptions

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Transfer out of Level 3

$ 2,100

[1]	During first quarter 2018, we transferred $2.1 million of swaption contracts out of Level 3 resulting from the exercise of our Level 3 swaptions by the counterparties.

Fair Value Measurements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018 USD ($) Counterparty	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest and dividends	$ 168,000	$ 118,000
Mark-to-market gain (loss)	(7,500,000)	1,500,000
Impairment on natural gas and oil properties	7,312,000	$ 0
Allowance for doubtful accounts on accounts receivable	$ 7,112,000		$ 7,111,000
Number of financial institutions included in counter parties \| Counterparty	19
Number of counterparties \| Counterparty	5
Net derivative liability	$ 15,400,000
Oklahoma
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment on natural gas and oil properties	$ 7,300,000

Fair Value Measurements - Value of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment of proved properties	$ 7,312	$ 0
Fair Value, Measurements, Nonrecurring \| Natural Gas and Oil Properties
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair Value	32,516
Impairment of proved properties	$ 7,312

Fair Value Measurements - Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($)
$ in Thousands

Mar. 31, 2018

Dec. 31, 2017

Carrying Value

Assets:

$ 23,132

$ 58,880

Marketable securities

^[1]

67,673

67,117

Deferred compensation plan

(42,238)

(54,022)

Bank credit facility

^[2]

(1,182,000)

(1,211,000)

^[3]

(114,806)

(114,414)

Fair Value

Assets:

23,132

58,880

Marketable securities

^[1]

67,673

67,117

Deferred compensation plan

(42,238)

(54,022)

Bank credit facility

^[2]

(1,182,000)

(1,211,000)

^[3]

(114,806)

(114,414)

5.75% Senior Notes Due 2021 | Carrying Value

5.75% Senior Notes Due 2021 | Fair Value

^[2]

(475,952)

5.00% Senior Notes Due 2022 | Carrying Value

^[2]

(485,381)

(493,872)

5.00% Senior Notes Due 2022 | Fair Value

^[2]

(580,032)

5.875% Senior Notes Due 2022 | Carrying Value

^[2]

(561,633)

(578,727)

5.875% Senior Notes Due 2022 | Fair Value

^[2]

(329,244)

Other Senior Notes Due 2022 | Carrying Value

^[2]

(330,610)

(339,200)

Other Senior Notes Due 2022 | Fair Value

^[2]

(590)

5.00% Senior Notes Due 2023 | Carrying Value

^[2]

(582)

(591)

5.00% Senior Notes Due 2023 | Fair Value

^[2]

(741,531)

4.875% Senior Notes Due 2025 | Carrying Value

^[2]

(711,143)

(735,614)

4.875% Senior Notes Due 2025 | Fair Value

^[2]

(750,000)

5.75% Senior Subordinated Notes Due 2021 | Carrying Value

^[2]

(694,800)

(733,755)

5.75% Senior Subordinated Notes Due 2021 | Fair Value

^[2]

(22,214)

5.00% Senior Subordinated Notes Due 2022 | Carrying Value

^[2]

(22,630)

(22,192)

5.00% Senior Subordinated Notes Due 2022 | Fair Value

^[2]

(19,054)

5.00% Senior Subordinated Notes Due 2023 | Carrying Value

^[2]

(18,436)

(18,741)

5.00% Senior Subordinated Notes Due 2023 | Fair Value

^[2]

(7,712)

^[2]

$ (7,355)

$ (7,614)

[1]	Marketable securities, which are held in our deferred compensation plans, are actively traded on major exchanges.
[2]	The book value of our bank debt approximates fair value because of its floating rate structure. The fair value of our senior notes and our senior subordinated notes is based on end of period market quotes which are Level 2 inputs.
[3]	The fair value of our deferred compensation plan is updated at the closing price on the balance sheet date which is a Level 1 input.

Fair Value Measurements - Carrying Amounts and Fair Values of Financial Instruments (Parenthetical) (Detail)	Mar. 31, 2018	Dec. 31, 2017	Oct. 05, 2017	Sep. 30, 2016
5.75% Senior Notes Due 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	5.75%	5.75%	5.75%	5.75%
5.00% Senior Notes Due 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	5.00%	5.00%	5.00%	5.00%
5.875% Senior Notes Due 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	5.875%	5.875%	5.875%
5.00% Senior Notes Due 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	5.00%	5.00%	5.00%	5.00%
4.875% Senior Notes Due 2025
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	4.875%	4.875%
5.75% Senior Subordinated Notes Due 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	5.75%	5.75%
5.00% Senior Subordinated Notes Due 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	5.00%	5.00%
5.00% Senior Subordinated Notes Due 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate on notes	5.00%	5.00%

Revenues from Contracts with Customers - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($) Stream	Dec. 31, 2017 USD ($)
Disaggregation of Revenue [Line Items]
Net brokered margin	$ 3.1
Number of revenue streams \| Stream	3
Revenue Contract with Customer
Disaggregation of Revenue [Line Items]
Accounts receivable	$ 257.6	$ 305.7

Revenues from Contracts with Customers - Schedule of Revenue Attributable to Identified Revenue Streams is Disaggregated (Detail)
$ in Thousands

3 Months Ended

Mar. 31, 2018

USD ($)

$ 756,608

Natural gas sales

491,248

^[1]

NGLs sales

202,831

^[2]

Oil sales

Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]

$ 62,529

[1]	Natural gas sales revenue reported above includes $55.9 million of brokered revenues and $3.8 million of marketing revenue.
[2]	NGLs sales revenue reported above includes $304,000 of brokered revenues.

Revenues from Contracts with Customers - Schedule of Revenue Attributable to Identified Revenue Streams is Disaggregated (Parenthetical) (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Brokered natural gas, marketing and other	$ 59,979,000	$ 51,648,000
Natural gas sales
Disaggregation of Revenue [Line Items]
Brokered natural gas, marketing and other	55,900,000
Marketing revenues	3,800,000
NGLs sales
Disaggregation of Revenue [Line Items]
Brokered natural gas, marketing and other	$ 304,000

Stock-based Compensation Plans - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018 Plans
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Active equity-based stock plans	1

Stock-based Compensation Plans - Allocation of Stock-Based Compensation by Functional Category (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2018

^[1]

Mar. 31, 2017

Dec. 31, 2017

^[2]

Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]

$ 25,538

$ 13,954

Direct Operating Expense

Brokered Natural Gas and Marketing Expense

591

524

Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]

Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]

285

263

Exploration Expense

General and Administrative Expense

751

^[2]

507

$ 2,742

Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]

Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]

23,911

10,918

Termination Costs

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

$ 0

$ 1,742

[1]	Includes $18.2 million accelerated vesting of equity grants.
[2]	Includes costs incurred whether capitalized or expensed.

Stock-based Compensation Plans - Allocation of Stock-Based Compensation by Functional Category (Parenthetical) (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Accelerated vesting of equity grants	$ 18.2

Stock-based Compensation Plans - Additional Information 1 (Detail)	3 Months Ended
	Mar. 31, 2018 Award shares	Dec. 31, 2017 shares
Restricted Stock Equity Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Performance Share
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of awards available for grant	3
Performance Share \| Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of share value each unit represents at grant date \| shares	1
Performance-based PG-PSUs and RG-PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Number of awards available for grant	2
Performance-based PG-PSUs and RG-PSUs \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout of shares granted	0.00%
Performance-based PG-PSUs and RG-PSUs \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout of shares granted	200.00%
Performance Based TSR - PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Number of awards available for grant	1
Performance Based TSR - PSUs \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout of shares granted	0.00%
Performance Based TSR - PSUs \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout of shares granted	200.00%
Stock Appreciation Rights (SARs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of stock option outstanding \| shares	337,207	382,779

Stock-based Compensation Plans - Additional Information 2 (Detail) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Restricted Stock Equity Awards

$ 25,538

^[1]

$ 13,954

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Granted

1,783,446

870,000

Granted, weighted average grant date fair value

$ 17.00

$ 32.98

3 years

Restricted Stock Liability Awards

$ 6,500

$ 6,000

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Granted

673,791

66,000

Granted, weighted average grant date fair value

$ 15.21

$ 32.67

3 years

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

$ 8,100

$ 2,700

[1]	Includes $18.2 million accelerated vesting of equity grants.

Stock-based Compensation Plans - Restricted Stock and Restricted Stock Units Outstanding (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Restricted Stock Equity Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Beginning Balance	833,058
Granted	1,783,446	870,000
Vested	(235,844)
Forfeited	(71,046)
Outstanding, Ending Balance	2,309,614
Outstanding, Beginning Balance, weighted average grant date fair value	$ 31.64
Granted, weighted average grant date fair value	17.00	$ 32.98
Vested, weighted average grant date fair value	25.56
Forfeited, weighted average grant date fair value	22.45
Outstanding, Ending Balance, weighted average grant date fair value	$ 21.24
Restricted Stock Liability Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Beginning Balance	55,202
Granted	673,791	66,000
Vested	(548,986)
Outstanding, Ending Balance	180,007
Outstanding, Beginning Balance, weighted average grant date fair value	$ 32.26
Granted, weighted average grant date fair value	15.21	$ 32.67
Vested, weighted average grant date fair value	15.51
Outstanding, Ending Balance, weighted average grant date fair value	$ 19.54

Stock-based Compensation Plans - Additional Information 3 (Detail) - USD ($)

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Performance-based PG-PSUs and RG-PSUs

$ 25,538,000

^[1]

$ 13,954,000

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

3 years

Performance Based TSR - PSUs

$ 5,300,000

6,000

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

3 years