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Revenue Recognition (Tables) | 6 Months Ended
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Jun. 30, 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 |  | Successor |  |  | Predecessor
| Three Months Ended June 30, 2021 |  |  | Three Months Ended June 30, 2020 |  | Six Months Ended June 30, 2021 |  |  | Six Months Ended June 30, 2020
Crude oil revenues | $ | 206,729 |  |  |  | $ | 81,059 |  |  | $ | 392,547 |  |  |  | $ | 293,852 |
Purchased crude oil sales | 73,505 |  |  |  | 23,519 |  |  | 110,222 |  |  |  | 109,276 |
Natural gas and NGL revenues | 48,498 |  |  |  | 12,771 |  |  | 108,141 |  |  |  | 39,106 |
Purchased natural gas sales | 60 |  |  |  | 4,081 |  |  | 354 |  |  |  | 4,602 |
Other services revenues | 195 |  |  |  | 396 |  |  | 421 |  |  |  | 6,377 |
Total E&P revenues | $ | 328,987 |  |  |  | $ | 121,826 |  |  | $ | 611,685 |  |  |  | $ | 453,213 |
Revenues derived from contracts with customers for midstream revenues were as follows for the periods presented (in thousands):
| Successor |  |  | Predecessor |  | Successor |  |  | Predecessor
| Three Months Ended June 30, 2021 |  |  | Three Months Ended June 30, 2020 |  | Six Months Ended June 30, 2021 |  |  | Six Months Ended June 30, 2020
Midstream service revenues |  |  |  |  |  |  |  |  |
Crude oil, natural gas and NGL revenues | $ | 20,794 |  |  |  | $ | 22,898 |  |  | $ | 43,019 |  |  |  | $ | 49,584 |
Produced and flowback water revenues | 7,466 |  |  |  | 7,247 |  |  | 14,874 |  |  |  | 18,499 |
Total midstream service revenues | 28,260 |  |  |  | 30,145 |  |  | 57,893 |  |  |  | 68,083 |
Midstream product revenues |  |  |  |  |  |  |  |  |
Purchased crude oil sales(1) | 8,290 |  |  |  | 9,752 |  |  | $ | 19,739 |  |  |  | $ | 9,752 |
Crude oil, natural gas and NGL revenues | 26,782 |  |  |  | 4,335 |  |  | 57,965 |  |  |  | 20,608 |
Freshwater revenues | 741 |  |  |  | 294 |  |  | 1,237 |  |  |  | 2,494 |
Total midstream product revenues | 35,813 |  |  |  | 14,381 |  |  | 78,941 |  |  |  | 32,854 |
Total midstream revenues | $ | 64,073 |  |  |  | $ | 44,526 |  |  | $ | 136,834 |  |  |  | $ | 100,937 |
___________________ (1) Reported under purchased oil and gas sales on the Condensed Consolidated Statements of Operations.
Changes in Company's Contract Assets and Contract Liabilities | The following table summarizes the changes in the Company’s contract liabilities for the six months ended June 30, 2021:
| (In thousands)
Balance as of December 31, 2020 (Successor) | $ | 3,966 |
Revenues recognized | (164) |
Balance as of June 30, 2021 (Successor) | $ | 3,802 |
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 June 30, 2021:
| (In thousands)
2021 (excluding the six months ended June 30, 2021) | $ | 8,376 |
2022 | 17,175 |
2023 | 10,896 |
2024 | 11,089 |
2025 | 2,768 |
Total | $ | 50,304 |

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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=123351226&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=123351226&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=123351226&loc=SL49130556-203045 + Details
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