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Revenue Recognition (Tables) | 9 Months Ended
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Sep. 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 September 30, 2021 |  |  | Three Months Ended September 30, 2020 |  | Nine Months Ended September 30, 2021 |  |  | Nine Months Ended September 30, 2020
Crude oil revenues | $ | 205,731 |  |  |  | $ | 155,052 |  |  | $ | 598,278 |  |  |  | $ | 448,904 |
Purchased crude oil sales | 53,562 |  |  |  | 35,442 |  |  | 163,785 |  |  |  | 144,719 |
Natural gas revenues | 75,905 |  |  |  | 24,525 |  |  | 184,046 |  |  |  | 63,631 |
Purchased natural gas sales | 8 |  |  |  | 308 |  |  | 362 |  |  |  | 4,909 |
Other services revenues | 121 |  |  |  | 309 |  |  | 542 |  |  |  | 6,686 |
Total E&P revenues | $ | 335,327 |  |  |  | $ | 215,636 |  |  | $ | 947,013 |  |  |  | $ | 668,849 |
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 September 30, 2021 |  |  | Three Months Ended September 30, 2020 |  | Nine Months Ended September 30, 2021 |  |  | Nine Months Ended September 30, 2020
Midstream service revenues |  |  |  |  |  |  |  |  |
Crude oil, natural gas and NGL revenues | $ | 22,111 |  |  |  | $ | 22,682 |  |  | $ | 65,225 |  |  |  | $ | 72,267 |
Produced and flowback water revenues | 10,312 |  |  |  | 8,801 |  |  | 25,230 |  |  |  | 27,300 |
Total midstream service revenues | 32,423 |  |  |  | 31,483 |  |  | 90,455 |  |  |  | 99,567 |
Midstream product revenues |  |  |  |  |  |  |  |  |
Purchased crude oil sales(1) | — |  |  |  | 8,444 |  |  | $ | 19,738 |  |  |  | $ | 18,196 |
Crude oil, natural gas and NGL revenues | 33,845 |  |  |  | 15,100 |  |  | 91,671 |  |  |  | 35,707 |
Freshwater revenues | 444 |  |  |  | 396 |  |  | 1,681 |  |  |  | 2,890 |
Total midstream product revenues | 34,289 |  |  |  | 23,940 |  |  | 113,090 |  |  |  | 56,793 |
Total midstream revenues | $ | 66,712 |  |  |  | $ | 55,423 |  |  | $ | 203,545 |  |  |  | $ | 156,360 |
___________________ (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 nine months ended September 30, 2021:
| (In thousands)
Balance as of December 31, 2020 (Successor) | $ | 3,966 |
Cash received | 3,231 |
Revenues recognized | (276) |
Balance as of September 30, 2021 (Successor) | $ | 6,921 |
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 September 30, 2021 (Successor):
| (In thousands)
2021 (excluding the nine months ended September 30, 2021) | $ | 3,709 |
2022 | 17,175 |
2023 | 10,896 |
2024 | 11,089 |
2025 | 2,768 |
Total | $ | 45,637 |

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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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