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Revenue Recognition (Tables) | 3 Months Ended
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Mar. 31, 2021
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | E&P revenues from contracts with customers for crude oil, natural gas and NGL sales and other services were as follows for the periods presented (in thousands):
| Successor |  |  | Predecessor |  |  |  |
| Three Months Ended March 31, 2021 |  |  | Three Months Ended March 31, 2020 |  |
Crude oil revenues | $ | 185,818 |  |  |  | $ | 212,793 |  |  |  |  |
Purchased crude oil sales | 36,716 |  |  |  | 85,757 |  |  |  |  |
Natural gas and NGL revenues | 59,643 |  |  |  | 26,335 |  |  |  |  |
Purchased natural gas sales | 295 |  |  |  | 521 |  |  |  |  |
Other services revenues | 226 |  |  |  | 5,981 |  |  |  |  |
Total E&P revenues | $ | 282,698 |  |  |  | $ | 331,387 |  |  |  |  |
Revenues derived from contracts with customers for midstream revenues were as follows for the periods presented (in thousands):
| Successor |  |  | Predecessor |  |  |  |
| Three Months Ended March 31, 2021 |  |  | Three Months Ended March 31, 2020 |  |
Midstream service revenues |  |  |  |  |  |  |  |
Crude oil, natural gas and NGL revenues | $ | 22,225 |  |  |  | $ | 26,921 |  |  |  |  |
Produced and flowback water revenues | 7,410 |  |  |  | 11,251 |  |  |  |  |
Total midstream service revenues | 29,635 |  |  |  | 38,172 |  |  |  |  |
Midstream product revenues |  |  |  |  |  |  |  |
Purchased crude oil sales | 11,449 |  |  |  | — |  |  |  |  |
Crude oil, natural gas and NGL revenues | 31,181 |  |  |  | 16,039 |  |  |  |  |
Freshwater revenues | 496 |  |  |  | 2,200 |  |  |  |  |
Total midstream product revenues | 43,126 |  |  |  | 18,239 |  |  |  |  |
Total midstream revenues | $ | 72,761 |  |  |  | $ | 56,411 |  |  |  |  |
Changes in Company's Contract Assets and Contract Liabilities | The following table summarizes the changes in the Company’s contract liabilities for the three months ended March 31, 2021:
| (In thousands)
Balance as of December 31, 2020 (Successor) | $ | 3,966 |
Revenues recognized | (82) |
Balance as of March 31, 2021 (Successor) | $ | 3,884 |
Remaining Performance Obligation Expected Satisfaction Period | The following table presents estimated revenue allocated to remaining performance obligations for contracted revenues that are unsatisfied (or partially satisfied) as of March 31, 2021:
| (In thousands)
2021 (excluding the three months ended March 31, 2021) | $ | 12,864 |
2022 | 17,175 |
2023 | 10,896 |
2024 | 11,089 |
2025 | 2,768 |
Total | $ | 54,792 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045 + Details
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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 + Details
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