Commitments and Contingencies  Employee Termination Benefits. Certain employees received termination benefits, including severance and accelerated stock vesting, upon separation of service from the Company during the years ended December31, 2016 , 2015 and 2014. Employee termination benefits were $12.3 million for the Successor 2016 Period, with approximately $5.7 million accrued at December 31, 2016 for payment in the first quarter of 2017 and $18.4 million for the Predecessor 2016 Period, primarily as a result of reductions in workforce. For the years ended December31, 2015 and 2014, employee termination benefits were $12.5 million and $8.9 million , respectively, primarily as a result of a reduction in workforce and executives separation from employment, and the sale of the Gulf Properties. Risks and Uncertainties. The Companys revenue, profitability and future growth are substantially dependent upon the prevailing and future prices for oil and natural gas, which depend on numerous factors beyond the Companys control such as overall oil and natural gas production and inventories in relevant markets, economic conditions, the global political environment, regulatory developments and competition from other energy sources. Oil and natural gas prices historically have been volatile, and may be subject to significant fluctuations in the future. The Company enters into commodity derivative arrangements in order to mitigate a portion of the effect of this price volatility on the Companys cash flows. See Note 12 for the Companys open oil and natural gas commodity derivative contracts. The Company historically has depended on cash flows from operating activities and, as necessary, borrowings under its senior credit facility to fund its capital expenditures. Based on its cash balances, cash flows from operating activities and net borrowing availability under the New First Lien Exit Facility, the Company expects to be able to fund its planned capital expenditures budget, debt service requirements and working cap