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Supplemental Oil and Gas Disclosures - Unaudited

12 Months Ended

Dec. 31, 2022

Oil and Gas Exploration and Production Industries Disclosures [Abstract]

Supplemental Oil and Gas Disclosures - Unaudited

Supplemental Oil and Gas Disclosures — Unaudited

The supplemental data presented below reflects information for all of the Company’s oil and gas producing activities. Prior periods have not been recast for discontinued operations.

Capitalized Costs

The following table sets forth the capitalized costs related to the Company’s oil and gas producing activities:

			December 31,
			2022						2021
			(In thousands)
Proved oil and gas properties			$	5,089,185					$	1,393,836
Less: Accumulated depreciation, depletion, amortization and impairment			(461,175)						(107,277)
Proved oil and gas properties, net			4,628,010						1,286,559
Unproved oil and gas properties			30,936						2,001
Total oil and gas properties, net			$	4,658,946					$	1,288,560

Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities

The following table sets forth costs incurred related to the Company’s oil and gas activities for the periods presented (in thousands):

			Successor																					Predecessor
			Year Ended December 31,												Period from November 20, 2020 through December 31, 2020									Period from January 1, 2020 through November 19, 2020
			2022						2021
Acquisition costs:
Proved oil and gas properties			$	3,164,665					$	605,868					$	—								$	—
Unproved oil and gas properties			43,084						85						336									536
Exploration costs			859						1						105									1,225
Development costs			507,961						170,178						14,624									199,537
Asset retirement costs			21,165						15,750						35									181
Total costs incurred			$	3,737,734					$	791,882					$	15,100								$	201,479

Results of Operations for Oil and Gas Producing Activities

The following table sets forth the results of operations for oil and gas producing activities, which exclude general and administrative expenses and interest expense, for the periods presented (in thousands):

			Successor																					Predecessor
			Year Ended December 31,												Period from November 20, 2020 through December 31, 2020									Period from January 1, 2020 through November 19, 2020
			2022						2021
Revenues			$	2,976,296					$	1,200,256					$	86,442								$	603,585
Production costs			814,588						403,382						32,903									249,707
Depreciation, depletion and amortization			354,050						109,881						12,745									264,822
Exploration and impairment			2,204						2,763						—									4,803,533
Rig termination			—						—						—									1,279
Income tax (benefit) expense			426,087						162,163						9,648									(1,115,276)
Results of operations for oil and gas producing activities			$	1,379,367					$	522,067					$	31,146								$	(3,600,480)

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- References

No definition available.

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- Definition

The entire disclosure for properties used in normal conduct of oil and gas exploration and producing operations. This disclosure may include property accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 932
-SubTopic 360
-URI https://asc.fasb.org/subtopic&trid=2145654

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