Quarterly report pursuant to Section 13 or 15(d)

BASIS OF PRESENTATION (Tables)

v3.22.1
BASIS OF PRESENTATION (Tables)
 3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Schedule of Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities consisted of the following at March 31, 2022 and December 31, 2021 (in thousands):
Successor
March 31, 2022 December 31, 2021
Accounts payable and other accrued liabilities $ 183,786  $ 143,938 
Revenue payable and suspense 173,285  180,857 
Accrued contract rejection damages and shares held in reserve 40,996  69,216 
Total accounts payable and accrued liabilities $ 398,067  $ 394,011 
Fresh Start Adjustments The following table summarizes the components in reorganization items, net included in the Company's consolidated statements of operations for the Predecessor Quarter (in thousands):
Predecessor
Three Months Ended March 31, 2021
Legal and professional fees $ 40,783 
Adjustment to allowed claims 2,088 
Gain on settlement of pre-petition accounts payable (4,150)
Reorganization items, net $ 38,721 
Schedule of Cash Flow, Supplemental Disclosures Supplemental Cash Flow and Non-Cash Information (in thousands)
Successor Predecessor
Three Months Ended March 31, 2022 Three Months Ended March 31, 2021
Supplemental disclosure of cash flow information:
Cash paid for reorganization items, net $ —  $ 21,367 
Interest payments $ 2,110  $ 4,763 
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable - oil and natural gas sales $ 25,985  $ (14,117)
Increase in accounts receivable - joint interest and other (17,722) (478)
Increase in accounts payable and accrued liabilities 2,135  15,555 
Decrease in prepaid expenses 6,811  26,356 
Increase in other assets (17) (655)
Total changes in operating assets and liabilities $ 17,192  $ 26,661 
Supplemental disclosure of non-cash transactions:
Capitalized stock-based compensation $ 597  $ 630 
Asset retirement obligation capitalized $ 16  $ 483 
Release of common stock held in reserve $ 28,220  $ — 
Foreign currency translation gain on equity method investments $ —  $ 2,570