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Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Commodity Derivative Instruments

At December 31, 2020 (Successor), the Company had the following outstanding commodity derivative instruments:

Commodity						Settlement Period						Derivative Instrument						Index						Volumes												Weighted Average Prices						Fair Value Assets (Liabilities)
																																										(In thousands)
Crude oil						2021						Fixed price swaps						NYMEX WTI						9,748,000						Bbl						$	42.09																													$	(59,262)
Crude oil						2022						Fixed price swaps						NYMEX WTI						7,245,000						Bbl						$	42.66																													(27,759)
Crude oil						2023						Fixed price swaps						NYMEX WTI						5,265,000						Bbl						$	43.57																													(10,054)
Crude oil						2024						Fixed price swaps						NYMEX WTI						434,000						Bbl						$	43.68																													(613)
Natural gas						2021						Fixed price swaps						NYMEX HH						14,600,000						MMBtu						$	2.84																													2,785
Natural gas						2022						Fixed price swaps						NYMEX HH						5,430,000						MMBtu						$	2.82																													812
																																																																		$	(94,091)

Realized and Unrealized Gains and Losses From Commodity Derivative Instruments

The following table summarizes the location and amounts of gains and losses from the Company’s commodity derivative instruments recorded in the Company’s Consolidated Statements of Operations 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,
Statement of Operations Location																					2019						2018
Net gain (loss) on derivative instruments						$	(84,615)								$	233,565					$	(106,314)					$	28,457

Schedule of Location and Fair Value of Outstanding Commodity Derivative Instruments

The following tables summarize the location and fair value of all outstanding commodity derivative instruments recorded in the Company’s Consolidated Balance Sheets:

												Successor
												December 31, 2020
Commodity						Balance Sheet Location						Gross Recognized Assets/Liabilities						Gross Amount Offset						Net Recognized Fair Value Assets/Liabilities
												(In thousands)
Derivatives assets:
Commodity contracts						Derivative instruments — current assets						$	467					$	—					$	467
Commodity contracts						Derivative instruments — non-current assets						—						—						—
Total derivatives assets												$	467					$	—					$	467
Derivatives liabilities:
Commodity contracts						Derivative instruments — current liabilities						$	59,262					$	(2,318)					$	56,944
Commodity contracts						Derivative instruments — non-current liabilities						38,426						(812)						37,614
Total derivatives liabilities												$	97,688					$	(3,130)					$	94,558
												Predecessor
												December 31, 2019
Commodity						Balance Sheet Location						Gross Recognized Assets/Liabilities						Gross Amount Offset						Net Recognized Fair Value Assets/Liabilities
												(In thousands)
Derivatives assets:
Commodity contracts						Derivative instruments — current assets						$	633					$	(98)					$	535
Commodity contracts						Derivative instruments — non-current assets						3,295						(2,656)						639
Total derivatives assets												$	3,928					$	(2,754)					$	1,174
Derivatives liabilities:
Commodity contracts						Derivative instruments — current liabilities						$	33,812					$	(14,117)					$	19,695
Commodity contracts						Derivative instruments — non-current liabilities						686						(566)						120
Total derivatives liabilities												$	34,498					$	(14,683)					$	19,815

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