Annual report pursuant to Section 13 and 15(d)

FRESH START ACCOUNTING (Fresh Start Adjustments) (Details)

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FRESH START ACCOUNTING (Fresh Start Adjustments) (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
May 17, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Current assets:          
Cash and cash equivalents $ 3,260 $ 1,526 $ 89,861    
Restricted Cash, Current   57,891      
Accounts receivable—oil and natural gas sales 232,854 180,711 119,879    
Accounts receivable—joint interest and other 20,383 15,431 12,200    
Prepaid expenses and other current assets 12,359 25,295 160,664    
Short-term derivative instruments 4,695 3,465 27,146    
Total current assets 273,551 284,319 409,750    
Property and equipment:          
Proved oil and natural gas properties 1,917,833 1,697,408 9,359,866    
Unproved properties 211,007 230,174 1,457,043    
Other property and equipment 5,329 6,893 88,538    
Total property and equipment 2,134,169 1,934,475 10,905,447    
Less: accumulated depletion, depreciation and amortization (278,341) 0 (8,819,178)    
Total property and equipment, net 1,855,828 1,934,475 2,086,269    
Other assets:          
Equity investments 0 0 24,816    
Long-term derivative instruments 18,664 8,183 322    
Operating lease assets 322 47 342    
Other assets 19,867 25,966 18,372    
Total other assets 38,853 34,196 43,852    
Total assets 2,168,232 2,252,990 2,539,871    
Current liabilities:          
Net change in accounts payable and accrued liabilities 394,011 506,799 244,903    
Short-term derivative instruments 240,735 98,900 11,641    
Current portion of operating lease liabilities 182 38 0    
Current maturities of long-term debt 0 60,000 253,743    
Total current liabilities 634,928 665,737 510,287    
Non-current liabilities:          
Long-term derivative instruments 184,580 80,742 36,604    
Asset retirement obligation 28,264 19,084 0    
Non-current operating lease liabilities 140 9 0    
Long-term debt, net of current maturities 712,946 792,751 0    
Total non-current liabilities 925,930 892,586 36,604    
Liabilities subject to compromise 0 2,224,449 2,293,480    
Total liabilities 1,560,858 1,558,323 2,840,371    
Commitments and contingencies (Notes 18 and 19)    
Mezzanine Equity:          
New Preferred Stock 57,896 55,000      
Stockholders’ Equity (Deficit):          
Common stock 2 2 1,607    
Additional paid-in capital 692,521 693,774 4,213,752    
New Common Stock held in reserve, 938 thousand shares (30,216) (54,109)      
Predecessor accumulated other comprehensive loss   0 (43,000)    
Accumulated deficit (112,829) 0 (4,472,859)    
Total stockholders’ equity (deficit) 549,478 639,667 (300,500) $ 1,314,592 $ 3,327,768
Total liabilities, mezzanine equity and stockholders’ equity (deficit) $ 2,168,232 2,252,990 $ 2,539,871    
Predecessor          
Current assets:          
Cash and cash equivalents   146,545      
Restricted Cash, Current   0      
Accounts receivable—oil and natural gas sales   180,711      
Accounts receivable—joint interest and other   15,431      
Prepaid expenses and other current assets   86,189      
Short-term derivative instruments   3,324      
Total current assets   432,200      
Property and equipment:          
Proved oil and natural gas properties   9,558,121      
Unproved properties   1,375,681      
Other property and equipment   38,026      
Total property and equipment   10,971,828      
Less: accumulated depletion, depreciation and amortization   (8,870,723)      
Total property and equipment, net   2,101,105      
Other assets:          
Equity investments   27,044      
Long-term derivative instruments   7,468      
Operating lease assets   47      
Other assets   18,866      
Total other assets   53,425      
Total assets   2,586,730      
Current liabilities:          
Net change in accounts payable and accrued liabilities   384,200      
Short-term derivative instruments   96,116      
Current portion of operating lease liabilities   0      
Current maturities of long-term debt   280,251      
Total current liabilities   760,567      
Non-current liabilities:          
Long-term derivative instruments   69,331      
Asset retirement obligation   0      
Non-current operating lease liabilities   0      
Long-term debt, net of current maturities   0      
Total non-current liabilities   69,331      
Liabilities subject to compromise   2,224,449      
Total liabilities   3,054,347      
Commitments and contingencies (Notes 18 and 19)        
Stockholders’ Equity (Deficit):          
Common stock   1,609      
Additional paid-in capital   4,215,838      
New Common Stock held in reserve, 938 thousand shares   0      
Predecessor accumulated other comprehensive loss   (40,430)      
Accumulated deficit   (4,644,634)      
Total stockholders’ equity (deficit)   (467,617)      
Total liabilities, mezzanine equity and stockholders’ equity (deficit)   2,586,730      
Reorganization Adjustments          
Current assets:          
Cash and cash equivalents   (145,019)      
Restricted Cash, Current   57,891      
Accounts receivable—oil and natural gas sales   0      
Accounts receivable—joint interest and other   0      
Prepaid expenses and other current assets   (60,894)      
Total current assets   (148,022)      
Property and equipment:          
Proved oil and natural gas properties   0      
Unproved properties   0      
Other property and equipment   0      
Total property and equipment   0      
Less: accumulated depletion, depreciation and amortization   0      
Total property and equipment, net   0      
Other assets:          
Equity investments   0      
Long-term derivative instruments   0      
Operating lease assets   0      
Other assets   7,100      
Total other assets   7,100      
Total assets   (140,922)      
Current liabilities:          
Net change in accounts payable and accrued liabilities   122,599      
Short-term derivative instruments   0      
Current portion of operating lease liabilities   38      
Current maturities of long-term debt   (220,251)      
Total current liabilities   (97,614)      
Non-current liabilities:          
Long-term derivative instruments   0      
Asset retirement obligation   65,341      
Non-current operating lease liabilities   9      
Long-term debt, net of current maturities   792,751      
Total non-current liabilities   858,101      
Liabilities subject to compromise   (2,224,449)      
Total liabilities   (1,463,962)      
Commitments and contingencies (Notes 18 and 19)        
Mezzanine Equity:          
New Preferred Stock   55,000      
Stockholders’ Equity (Deficit):          
Common stock   (1,609)      
Additional paid-in capital   (3,522,064)      
New Common Stock held in reserve, 938 thousand shares   (54,109)      
Predecessor accumulated other comprehensive loss   40,430      
Accumulated deficit   4,805,390      
Total stockholders’ equity (deficit)   1,268,040      
Total liabilities, mezzanine equity and stockholders’ equity (deficit)   (140,922)      
Fresh Start Adjustments          
Current assets:          
Cash and cash equivalents   0      
Restricted Cash, Current   0      
Accounts receivable—oil and natural gas sales   0      
Accounts receivable—joint interest and other   0      
Prepaid expenses and other current assets   0      
Short-term derivative instruments   141      
Total current assets   141      
Property and equipment:          
Proved oil and natural gas properties   (7,860,713)      
Unproved properties   (1,145,507)      
Other property and equipment   (31,133)      
Total property and equipment   (9,037,353)      
Less: accumulated depletion, depreciation and amortization   8,870,723      
Total property and equipment, net   (166,630)      
Other assets:          
Equity investments   (27,044)      
Long-term derivative instruments   715      
Operating lease assets   0      
Other assets   0      
Total other assets   (26,329)      
Total assets   (192,818)      
Current liabilities:          
Net change in accounts payable and accrued liabilities   0      
Short-term derivative instruments   2,784      
Current portion of operating lease liabilities   0      
Current maturities of long-term debt   0      
Total current liabilities   2,784      
Non-current liabilities:          
Long-term derivative instruments   11,411      
Asset retirement obligation   (46,257)      
Non-current operating lease liabilities   0      
Long-term debt, net of current maturities   0      
Total non-current liabilities   (34,846)      
Total liabilities   (32,062)      
Commitments and contingencies (Notes 18 and 19)        
Stockholders’ Equity (Deficit):          
Additional paid-in capital   0      
New Common Stock held in reserve, 938 thousand shares   0      
Predecessor accumulated other comprehensive loss   0      
Accumulated deficit   (160,756)      
Total stockholders’ equity (deficit)   (160,756)      
Total liabilities, mezzanine equity and stockholders’ equity (deficit)   $ (192,818)