Oil and Gas Reserves Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Changes in Net Quantities of Crude Oil and Natural Gas Reserves

Set forth below is a summary of the Company's proved oil and natural gas reserves:


	Predecessor		Successor
	Period from January 1, 2018 through August 13, 2018		Period from August 14, 2018 through December 31, 2018		Year Ended December 31, 2019		Year Ended December 31, 2020
	Oil (MBbls)	Natural Gas (MMcf)	Oil (MBbls)	Natural Gas (MMcf)	Oil (MBbls)	Natural Gas (MMcf)	Oil (MBbls)	Natural Gas (MMcf)
Proved Reserves:
Beginning of period (1)	7,552	1,116,956	28,994	2,246,501	23,612	2,282,758	16,747	5,341,497
Revisions of previous estimates	4	17,778	5	23,949	(4,621)	62,697	(4,241)	306,552
Extensions and discoveries	5,651	950,032	—	30,126	259	315,286	2	365,663
Acquisitions of minerals in place	—	220,088	—	33,612	240	3,023,109	—	—
Sales of minerals in place	(6,870)	(54,341)	(4,002)	(6,399)	(58)	(49,520)	—	—
Production	(287)	(55,240)	(1,385)	(45,031)	(2,685)	(292,833)	(1,508)	(450,836)
End of period	6,050	2,195,273	23,612	2,282,758	16,747	5,341,497	11,000	5,562,876
Proved Developed Reserves:
Beginning of period (1)	7,552	436,114	22,845	550,198	21,466	583,107	15,104	1,890,357
End of period	403	500,031	21,466	583,107	15,104	1,890,357	11,000	1,967,288
Proved Undeveloped Reserves:
Beginning of period (1)	—	680,842	6,149	1,696,303	2,146	1,699,651	1,643	3,451,140
End of period	5,647	1,695,242	2,146	1,699,651	1,643	3,451,140	—	3,595,588

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(1)The beginning proved reserves balance at August 14, 2018 represents the contributed Bakken shale properties and the reserves of the Predecessor on a combined basis.

Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves

The following table sets forth the standardized measure of discounted future net cash flows relating to proved reserves:


	Predecessor		Successor
	As of August 13, 2018		As of December 31, 2018		As of December 31, 2019		As of December 31, 2020
	(In thousands)
Cash Flows Relating to Proved Reserves:
Future Cash Flows	$	6,384,203	$	8,054,092	$	13,078,155	$	9,871,616
Future Costs:
Production	(1,804,559)		(2,160,912)		(3,562,042)		(3,173,350)
Development and Abandonment	(1,945,141)		(1,800,335)		(3,171,351)		(2,592,520)
Future Income Taxes	(199,589)		(622,241)		(676,759)		(154,872)
Future Net Cash Flows	2,434,914		3,470,604		5,668,003		3,950,874
10% Discount Factor	(1,556,927)		(1,996,764)		(2,754,792)		(2,015,149)
Standardized Measure of Discounted Future Net Cash Flows	$	877,987	$	1,473,840	$	2,913,211	$	1,935,725

Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves

The following table sets forth the changes in the standardized measure of discounted future net cash flows relating to proved reserves:


	Predecessor		Successor
	For the Period from January 1, 2018 through August 13, 2018		For the Period from August 14, 2018 through December 31, 2018		Year Ended December 31, 2019		Year Ended December 31, 2020
	(In thousands)
Standardized Measure, Beginning of Year	$	881,544	$	1,317,383	$	1,473,840	$	2,913,211
Net change in sales price, net of production costs	(61,662)		223,731		(716,930)		(1,858,026)
Development costs incurred during the year which were previously estimated	86,086		112,073		311,331		302,135
Revisions of quantity estimates	19,815		27,090		16,340		215,268
Accretion of discount	53,413		55,692		175,514		326,074
Changes in future development and abandonment costs	(27,489)		23,139		(93,476)		313,191
Changes in timing and other	(17,723)		9,434		180,314		(127,663)
Extensions and discoveries	167,986		15,263		442,099		180,624
Acquisitions of minerals in place	72,738		54,143		1,813,491		—
Sales of minerals in place	(124,083)		(42,870)		(51,070)		—
Sales, net of production costs	(129,991)		(181,218)		(580,922)		(612,194)
Net changes in income taxes	(42,647)		(140,020)		(57,320)		283,105
Standardized Measure, End of Year	$	877,987	$	1,473,840	$	2,913,211	$	1,935,725

Summary of Prices Used in Determining Oil and Natural Gas Reserves Quantities and Cash Flows

Prices used in determining oil and natural gas reserves quantities and cash flows are as follows:


	Predecessor		Successor
	For the Period from January 1, 2018 through August 13, 2018		For the Period from August 14, 2018 through December 31, 2018		Year Ended December 31, 2019		Year Ended December 31, 2020
Crude Oil: $/barrel	$	62.29	$	61.21	$	55.69	$	39.57
Natural Gas: $/Mcf	$	2.74	$	2.90	$	2.58	$	1.99

- Definition

Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

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- Definition

Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed.

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