BASIS OF PRESENTATION (Tables)
|
6 Months Ended |
Jun. 30, 2021 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Error Corrections and Prior Period Adjustments |
The following tables present the effect of the correction on all affected line items of our previously issued consolidated statements of operations for the Prior Predecessor Quarter and the Prior Predecessor YTD Period.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended June 30, 2020 |
|
Predecessor |
|
As Reported |
|
Adjustments |
|
As Revised |
|
(In thousands) |
| Natural gas sales |
$ |
86,797 |
|
|
$ |
53,891 |
|
|
$ |
140,688 |
|
| Total Revenues |
$ |
132,410 |
|
|
$ |
53,891 |
|
|
$ |
186,301 |
|
| Transportation, gathering, processing and compression |
$ |
59,974 |
|
|
$ |
53,891 |
|
|
$ |
113,865 |
|
| Total Operating Expenses |
$ |
688,160 |
|
|
$ |
53,891 |
|
|
$ |
742,051 |
|
|
|
|
|
|
|
|
Six months ended June 30, 2020 |
|
Predecessor |
|
As Reported |
|
Adjustments |
|
As Revised |
|
(In thousands) |
| Natural gas sales |
$ |
195,344 |
|
|
$ |
106,352 |
|
|
$ |
301,696 |
|
| Total Revenues |
$ |
379,287 |
|
|
$ |
106,352 |
|
|
$ |
485,639 |
|
| Transportation, gathering, processing and compression |
$ |
117,870 |
|
|
$ |
106,352 |
|
|
$ |
224,222 |
|
| Total Operating Expenses |
$ |
1,415,124 |
|
|
$ |
106,352 |
|
|
$ |
1,521,476 |
|
|
| Schedule of Accounts Payable and Accrued Liabilities |
Accounts payable and accrued liabilities consisted of the following at June 30, 2021 and December 31, 2020:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor |
|
June 30, 2021 |
|
|
December 31, 2020 |
| Accounts payable and other accrued liabilities |
$ |
147,852 |
|
|
|
$ |
120,275 |
|
| Revenue payable and suspense |
127,954 |
|
|
|
124,628 |
|
| Accrued contract rejection damages and shares held in reserve |
121,994 |
|
|
|
— |
|
| Total accounts payable and accrued liabilities |
$ |
397,800 |
|
|
|
$ |
244,903 |
|
|
| Schedule of Cash Flow, Supplemental Disclosures |
Supplemental Cash Flow and Non-Cash Information
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor |
|
Period from May 18, 2021 through June 30, 2021 |
|
|
Period from January 1, 2021 through May 17, 2021 |
|
Six Months Ended June 30, 2020 |
| Supplemental disclosure of cash flow information: |
|
|
|
|
|
|
| Cash paid for reorganization items, net |
$ |
15,369 |
|
|
|
$ |
87,199 |
|
|
$ |
— |
|
| Interest payments |
$ |
2,072 |
|
|
|
$ |
7,272 |
|
|
$ |
60,523 |
|
| Changes in operating assets and liabilities: |
|
|
|
|
|
|
| (Increase) decrease in accounts receivable - oil and natural gas sales |
$ |
40,048 |
|
|
|
$ |
(60,832) |
|
|
$ |
55,565 |
|
| (Increase) decrease in accounts receivable - joint interest and other |
$ |
4,510 |
|
|
|
$ |
(3,005) |
|
|
$ |
29,159 |
|
| Increase (decrease) in accounts payable and accrued liabilities |
$ |
(80,097) |
|
|
|
$ |
79,193 |
|
|
$ |
(30,620) |
|
| (Increase) decrease in prepaid expenses |
$ |
681 |
|
|
|
$ |
135,471 |
|
|
$ |
(5,744) |
|
| (Increase) decrease in other assets |
$ |
62 |
|
|
|
$ |
3,067 |
|
|
$ |
41 |
|
| Total changes in operating assets and liabilities |
$ |
(34,796) |
|
|
|
$ |
153,894 |
|
|
$ |
48,401 |
|
| Supplemental disclosure of non-cash transactions: |
|
|
|
|
|
|
| Capitalized stock-based compensation |
$ |
— |
|
|
|
$ |
930 |
|
|
$ |
1,891 |
|
| Asset retirement obligation capitalized |
$ |
36 |
|
|
|
$ |
546 |
|
|
$ |
1,553 |
|
| Asset retirement obligation removed due to divestiture |
$ |
— |
|
|
|
$ |
— |
|
|
$ |
(2,033) |
|
| Interest capitalized |
$ |
— |
|
|
|
$ |
— |
|
|
$ |
710 |
|
| Fair value of contingent consideration asset on date of divestiture |
$ |
— |
|
|
|
$ |
— |
|
|
$ |
23,090 |
|
| Release of New Common Stock Held in Reserve |
$ |
23,893 |
|
|
|
$ |
— |
|
|
$ |
— |
|
| Foreign currency translation gain (loss) on equity method investments |
$ |
— |
|
|
|
$ |
2,570 |
|
|
$ |
(8,158) |
|
|