Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2021
Jun. 30, 2021
May 17, 2021
Mar. 31, 2021
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Current assets:                  
Cash and cash equivalents $ 4,485   $ 1,526   $ 89,861        
Accounts receivable—oil and natural gas sales 185,941   180,711   119,879        
Accounts receivable—joint interest and other 9,669   15,431   12,200        
Prepaid expenses and other current assets 18,487   25,295   160,664        
Short-term derivative instruments 2,142   3,465   27,146        
Total current assets 220,724   284,319   409,750        
Property and equipment:                  
Proved oil and natural gas properties 1,831,762   1,697,408   9,359,866        
Unproved properties 216,357   230,174   1,457,043        
Other property and equipment 5,277   6,893   88,538        
Total property and equipment 2,053,396   1,934,475   10,905,447        
Less: accumulated depletion, depreciation and amortization (212,403)   0   (8,819,178)        
Total property and equipment, net 1,840,993   1,934,475   2,086,269        
Other assets:                  
Equity investments 0   0   24,816        
Long-term derivative instruments 961   8,183   322        
Operating lease assets 34   47   342        
Other assets 25,496   25,966   18,372        
Total other assets 26,491   34,196   43,852        
Total assets 2,088,208   2,252,990   2,539,871        
Current liabilities:                  
Accounts payable and accrued liabilities 436,172   506,799   244,903        
Short-term derivative instruments 560,722   98,900   11,641        
Current portion of operating lease liabilities 34   38   0        
Current maturities of long-term debt 60,000   60,000   253,743        
Total current liabilities 1,056,928   665,737   510,287        
Non-current liabilities:                  
Long-term derivative instruments 272,935   80,742   36,604        
Asset retirement obligation 19,854   19,084   0        
Long-term debt, net of current maturities 689,502   792,751   0        
Total non-current liabilities 982,291   892,586   36,604        
Liabilities subject to compromise 0   2,224,449   2,293,480        
Total liabilities 2,039,219   1,558,323   2,840,371        
Commitments and contingencies (Note 9)            
Mezzanine Equity:                  
New Preferred Stock - $0.0001 par value, 110 thousand shares authorized, 57.9 thousand issued and outstanding at September 30, 2021 57,920   55,000            
Stockholders’ equity (deficit):                  
Common stock 2   2   1,607        
Predecessor accumulated other comprehensive loss     0   (43,000)        
Additional paid-in capital 692,182   693,774   4,213,752        
New Common Stock held in reserve, 938 thousand shares (30,216)   (54,109)            
Accumulated deficit (670,899)   0   (4,472,859)        
Total stockholders’ deficit (8,931) $ 453,090 639,667 $ (287,738) (300,500) $ (144,777) $ 231,340 $ 784,049 $ 1,314,592
Total liabilities, mezzanine equity and stockholders’ deficit $ 2,088,208   $ 2,252,990   $ 2,539,871