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STOCK-BASED COMPENSATION | 6 Months Ended
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Jun. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION As discussed in Note 2, on the Emergence Date, the Company's predecessor common stock was cancelled and New Common Stock was issued. Accordingly, the Company's then existing stock-based compensation awards were also cancelled, which resulted in the recognition of previously unamortized expense of $4.4 million related to the cancelled awards on the date of cancellation, which was included in reorganization items, net on the accompanying consolidated statements of operations. Stock-based compensation for the Predecessor and Successor periods are not comparable. Successor Stock-Based Compensation As of the Emergence Date, the Board of Directors adopted the Incentive Plan with a share reserve equal to 2,828,123 shares of New Common Stock. The Incentive Plan provides for the grant of incentive stock options, nonstatutory stock options, restricted stock, restricted stock units, stock appreciation rights, dividend equivalents and performance awards or any combination of the foregoing. No shares were granted under this plan as of June 30, 2021. Predecessor Stock-Based Compensation The Company granted restricted stock units to employees and directors pursuant to the 2019 Amended and Restated Incentive Stock Plan ("2019 Plan"). During the Current Predecessor Quarter and the Current Predecessor YTD Period, the Company’s stock-based compensation cost was $1.5 million and $4.4 million, respectively, of which the Company capitalized $0.3 million and $0.9 million, respectively, relating to its exploration and development efforts. During the Prior Predecessor Quarter and the Prior Predecessor YTD Period, the Company’s stock-based compensation cost was $2.2 million and $4.3 million, respectively, of which the Company capitalized $1.0 million and $1.9 million, respectively, relating to its exploration and development efforts. Stock compensation costs, net of the amounts capitalized, are included in general and administrative expenses in the accompanying consolidated statements of operations. The following table summarizes restricted stock unit activity for the Current Predecessor Quarter:
| Number of Unvested Restricted Stock Units |  | Weighted Average Grant Date Fair Value |  | Number of Unvested Performance Vesting Restricted Stock Units |  | Weighted Average Grant Date Fair Value
Unvested shares as of April 1, 2021 | 1,480,223 |  |  | $ | 4.26 |  |  | 840,595 |  |  | $ | 4.07 |
Granted | — |  |  | — |  |  | — |  |  | — |
Vested | (24,549) |  |  | 9.49 |  |  | — |  |  | — |
Forfeited/canceled | (1,455,674) |  |  | 4.17 |  |  | (840,595) |  |  | 4.07 |
Unvested shares as of May 17, 2021 | — |  |  | $ | — |  |  | — |  |  | $ | — |
The following table summarizes restricted stock unit activity for the Current Predecessor YTD Period:
| Number of Unvested Restricted Stock Units |  | Weighted Average Grant Date Fair Value |  | Number of Unvested Performance Vesting Restricted Stock Units |  | Weighted Average Grant Date Fair Value
Unvested shares as of January 1, 2021 | 1,702,513 |  |  | $ | 4.74 |  |  | 840,595 |  |  | $ | 4.07 |
Granted | — |  |  | — |  |  | — |  |  | — |
Vested | (227,132) |  |  | 8.45 |  |  | — |  |  | — |
Forfeited/canceled | (1,475,381) |  |  | 4.16 |  |  | (840,595) |  |  | 4.07 |
Unvested shares as of May 17, 2021 | — |  |  | $ | — |  |  | — |  |  | $ | — |
Predecessor Restricted Stock Units Restricted stock units awarded under the 2019 Plan generally vested over a period of one year in the case of directors and three years in the case of employees and vesting was dependent upon the recipient meeting applicable service requirements. Stock-based compensation costs are recorded ratably over the service period. The grant date fair value of restricted stock units represents the closing market price of the Company's common stock on the date of grant. All unrecognized compensation expense was recognized as of the Emergence Date. Predecessor Performance Vesting Restricted Stock Units The Company previously awarded performance vesting restricted stock units to certain of its executive officers under the 2019 Plan. The number of shares of common stock issued pursuant to the award was based on relative total shareholder return ("RTSR"). RTSR is an incentive measure whereby participants will earn from 0% to 200% of the target award based on the Company’s RTSR ranking compared to the RTSR of the companies in the Company’s designated peer group at the end of the performance period. Awards were to be earned and vested over a performance period measured from January 1, 2019 to December 31, 2021, subject to earlier termination of the performance period in the event of a change in control. All unrecognized compensation expense was recognized as of the Emergence Date.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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- References No definition available. + Details
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