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Derivative and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of estimated fair value of oil, natural gas and NGL derivative instrument asset (liabilities) | The estimated fair values of our natural gas and oil derivative instrument assets (liabilities) as of December 31, 2022 and 2021 are provided below:
|  | Successor
|  | December 31, 2022 |  | December 31, 2021
|  | Notional Volume |  | Fair Value |  | Notional Volume |  | Fair Value
Natural gas (Bcf): |  |  |  |  |  |  |  |
Fixed-price swaps |  | 382 |  |  | $ | (494) |  |  | 637 |  |  | $ | (675) |
Collars |  | 721 |  |  | 49 |  |  | 205 |  |  | (82) |
Three-way collars |  | 4 |  |  | (2) |  |  | — |  |  | — |
Call options |  | 18 |  |  | (22) |  |  | 18 |  |  | (17) |
Basis protection swaps |  | 652 |  |  | (32) |  |  | 252 |  |  | (11) |
Total natural gas |  | 1,777 |  |  | (501) |  |  | 1,112 |  |  | (785) |
Oil (MMBbls): |  |  |  |  |  |  |  |
Fixed-price swaps |  | 1 |  |  | (32) |  |  | 13 |  |  | (356) |
Collars |  | 2 |  |  | 7 |  |  | — |  |  | — |
Basis protection swaps |  | 6 |  |  | 1 |  |  | 9 |  |  | (2) |
Total oil |  | 9 |  |  | (24) |  |  | 22 |  |  | (358) |
Total estimated fair value |  |  |  | $ | (525) |  |  |  |  | $ | (1,143) |
Schedule of effects of dividend instruments in consolidated balance sheets | The following table presents the fair value and location of each classification of derivative instrument included in the consolidated balance sheets as of December 31, 2022 and 2021 on a gross basis and after same-counterparty netting:
|  | Gross Fair Value(a) |  | Amounts Netted in the Consolidated Balance Sheets |  | Net Fair Value Presented in the Consolidated Balance Sheets
Successor |  |  |  |  |  |
As of December 31, 2022 |  |  |  |  |  |
Commodity Contracts: |  |  |  |  |  |
Short-term derivative asset |  | $ | 200 |  |  | $ | (166) |  |  | $ | 34 |
Long-term derivative asset |  | 87 |  |  | (40) |  |  | 47 |
Short-term derivative liability |  | (598) |  |  | 166 |  |  | (432) |
Long-term derivative liability |  | (214) |  |  | 40 |  |  | (174) |
Total derivatives |  | $ | (525) |  |  | $ | — |  |  | $ | (525) |
As of December 31, 2021 |  |  |  |  |  |
Commodity Contracts: |  |  |  |  |  |
Short-term derivative asset |  | $ | 56 |  |  | $ | (51) |  |  | $ | 5 |
Short-term derivative liability |  | (950) |  |  | 51 |  |  | (899) |
Long-term derivative liability |  | (249) |  |  | — |  |  | (249) |
Total derivatives |  | $ | (1,143) |  |  | $ | — |  |  | $ | (1,143) |
___________________________________________ (a)These financial assets (liabilities) are measured at fair value on a recurring basis utilizing significant other observable inputs; see further discussion on fair value measurements below.
Schedule of effects of derivative instruments in accumulated other comprehensive income (loss) | A reconciliation of the changes in accumulated other comprehensive income (loss) in our consolidated statements of stockholders’ equity related to our cash flow hedges is presented below:
|  | Predecessor
|  | Period from January 1, 2021 through February 9, 2021 |  | Year Ended December 31, 2020
|  | Before Tax |  | After Tax |  | Before Tax |  | After Tax
Balance, beginning of period |  | $ | (12) |  |  | $ | 45 |  |  | $ | (45) |  |  | $ | 12 |
Losses reclassified to income(a) |  | 3 |  |  | 3 |  |  | 33 |  |  | 33 |
Fresh start adjustments |  | 9 |  |  | 9 |  |  | — |  |  | — |
Elimination of tax effects |  | — |  |  | (57) |  |  | — |  |  | — |
Balance, end of period |  | $ | — |  |  | $ | — |  |  | $ | (12) |  |  | $ | 45 |
___________________________________________ (a)These losses were included as a component of total natural gas and oil derivatives.

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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