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Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Components of Lease Costs The Company’s leases consist primarily of office space, drilling rigs, vehicles and other property and equipment used in its operations. The components of lease costs were as follows for the periods presented (in thousands):
SuccessorPredecessor
Period from November 20, 2020 through
December 31, 2020		Period from January 1, 2020 through
November 19, 2020		Year Ended December 31,
2019
Operating lease costs$751 $5,797 $26,341 
Variable lease costs(1)
437 2,678 9,189 
Short-term lease costs554 9,807 4,657 
Finance lease costs:
Amortization of ROU assets153 1,987 2,543 
Interest on lease liabilities11 167 260 
Total lease costs$1,906 $20,436 $42,990 
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(1)Based on payments made by the Company to lessors for the right to use an underlying asset that vary because of changes in circumstances occurring after the commencement date, other than the passage of time, such as property taxes, operating and maintenance costs, which do not depend on an index or rate.
Maturities of Company's Finance Leases
As of December 31, 2020 (Successor), maturities of the Company’s lease liabilities were as follows (in thousands):
Successor
Operating LeasesFinance Leases
2021$2,744 $1,722 
20221,548 1,210 
2023787 260 
2024102 45 
2025— 45 
Thereafter— 594 
Total future lease payments5,181 3,876 
Less: Imputed interest211 346 
Present value of future lease payments$4,970 $3,530 
Maturities of Company's Operating Leases
As of December 31, 2020 (Successor), maturities of the Company’s lease liabilities were as follows (in thousands):
Successor
Operating LeasesFinance Leases
2021$2,744 $1,722 
20221,548 1,210 
2023787 260 
2024102 45 
2025— 45 
Thereafter— 594 
Total future lease payments5,181 3,876 
Less: Imputed interest211 346 
Present value of future lease payments$4,970 $3,530 
Supplemental Balance Sheet Information Related to Company's Leases
Supplemental balance sheet information related to the Company’s leases were as follows (in thousands):
Successor(1)
Predecessor
Balance Sheet LocationDecember 31, 2020December 31, 2019
Assets
Operating lease assetsOperating right-of-use assets$6,083 $18,497 
Finance lease assets(2)
Other assets3,419 6,303 
Total lease assets$9,502 $24,800 
Liabilities
Current
Operating lease liabilitiesCurrent operating lease liabilities$2,607 $6,182 
Finance lease liabilitiesOther current liabilities1,626 2,413 
Long-term
Operating lease liabilitiesOperating lease liabilities2,362 17,915 
Finance lease liabilitiesOther liabilities1,904 3,958 
Total lease liabilities$8,499 $30,468 
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(1)Upon emergence from bankruptcy and the adoption of fresh start accounting, operating lease ROU assets and operating and finance lease liabilities were adjusted to their estimated fair value. Refer to Note 3—Fresh Start Accounting for more information on Fresh Start Adjustments.
(2)Finance lease ROU assets are recorded net of accumulated amortization of $0.2 million as of December 31, 2020 (Successor) and $2.3 million as of December 31, 2019 (Predecessor).
Supplemental Cash Flow Information and Non-cash Transactions
Supplemental cash flow information and non-cash transactions related to the Company’s leases were as follows (in thousands):
SuccessorPredecessor
Period from November 20, 2020 through
December 31, 2020		Period from January 1, 2020 through
November 19, 2020		Year Ended December 31,
2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$1,992 $6,624 $30,316 
Operating cash flows from finance leases9 145 260 
Financing cash flows from finance leases202 1,989 2,382 
ROU assets obtained in exchange for lease obligations
Operating leases$— $797 $12,746 
Finance leases— 24 3,433 
Reductions to ROU assets resulting from reductions to lease obligations
Operating leases(1)
$(6,255)$— $— 
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(1)Includes amounts added to or reduced from the carrying amount of ROU assets resulting from lease modifications and remeasurements in connection with the Company’s bankruptcy emergence.
Weighted-average Lease Terms and Discount Rates for the Company's Leases
Weighted-average remaining lease terms and discount rates for the Company’s leases were as follows:
SuccessorPredecessor
December 31, 2020December 31, 2019
Operating Leases
Weighted average remaining lease term2.6 years7.1 years
Weighted average discount rate3.9 %4.1 %
Finance Leases
Weighted average remaining lease term4.6 years4.1 years
Weighted average discount rate3.6 %3.9 %