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Revenue Recognition (Tables)

3 Months Ended

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

X

- 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

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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

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- References

No definition available.

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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

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