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Supplemental Oil and Gas Disclosures - Unaudited

12 Months Ended

Dec. 31, 2020

Oil and Gas Exploration and Production Industries Disclosures [Abstract]

Supplemental Oil and Gas Disclosures - Unaudited

Supplemental Oil and Gas Disclosures — Unaudited The supplemental data presented below reflects information for all of the Company’s oil and gas producing activities.

Capitalized Costs

The following table sets forth the capitalized costs related to the Company’s oil and gas producing activities at December 31 (in thousands):

			Successor									Predecessor
			December 31, 2020									December 31, 2019
Proved oil and gas properties			$	770,117								$	8,724,376
Less: Accumulated depreciation, depletion, amortization and impairment			(12,403)									(3,601,019)
Proved oil and gas properties, net			757,714									5,123,357
Unproved oil and gas properties			40,211									738,662
Total oil and gas properties, net			$	797,925								$	5,862,019

Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities

The following table sets forth costs incurred related to the Company’s oil and gas activities for the periods presented (in thousands):

			Successor									Predecessor
			Period from November 20, 2020 through December 31, 2020									Period from January 1, 2020 through November 19, 2020						Year Ended December 31,
																		2019						2018
Acquisition costs:
Proved oil and gas properties			$	—								$	—					$	—					$	260,034
Unproved oil and gas properties			336									536						23,058						696,293
Exploration costs			105									1,225						67,470						53,928
Development costs			14,624									199,537						542,133						923,562
Asset retirement costs			35									181						2,083						5,804
Total costs incurred			$	15,100								$	201,479					$	634,744					$	1,939,621

Results of Operations for Oil and Gas Producing Activities

The following table sets forth the results of operations for oil and gas producing activities, which exclude general and administrative expenses and interest expense, for the periods presented (in thousands):

			Successor									Predecessor
			Period from November 20, 2020 through December 31, 2020									Period from January 1, 2020 through November 19, 2020						Year Ended December 31,
																		2019						2018
Revenues			$	86,442								$	603,585					$	1,408,771					$	1,590,024
Production costs			32,903									249,707						464,782						434,801
Depreciation, depletion and amortization			12,745									264,822						759,900						613,928
Exploration costs			—									2,748						6,658						27,432
Rig termination			—									1,279						384						—
Impairment			—									4,800,785						5,389						384,228
Income tax (benefit) expense			9,648									(1,115,276)						40,745						30,770
Results of operations for oil and gas producing activities			$	31,146								$	(3,600,480)					$	130,913					$	98,865

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- References

No definition available.

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- Definition

The entire disclosure for properties used in normal conduct of oil and gas exploration and producing operations. This disclosure may include property accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 932
-SubTopic 360
-URI http://asc.fasb.org/subtopic&trid=2145654

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