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PROPERTY AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

The major categories of property and equipment and related accumulated DD&A and impairment as of June 30, 2021 and December 31, 2020 are as follows:

			Successor									Predecessor
			June 30, 2021									December 31, 2020
Proved oil and natural gas properties			$	1,737,778								$	9,359,866
Unproved properties			224,214									1,457,043
Other depreciable property and equipment			5,407									85,530
Land			1,507									3,008
Total property and equipment			1,968,906									10,905,447
Accumulated DD&A and impairment			(150,175)									(8,819,178)
Property and equipment, net			$	1,818,731								$	2,086,269

Schedule of Non-Producing Properties Excluded from Amortization by Area

The following table summarizes the Company’s unevaluated properties excluded from amortization by area at June 30, 2021:

			Successor
			June 30, 2021
			(In thousands)
Utica			$	186,036
SCOOP			38,178
Total unproved properties			$	224,214

Schedule of Asset Retirement Obligation

The following table provides a reconciliation of the Company’s asset retirement obligation for the periods presented:

Asset retirement obligation at January 1, 2021 (Predecessor)						$	63,566
Liabilities incurred						546
Accretion expense						1,229
Ending balance as of May 17, 2021 (Predecessor)						65,341
Fresh start adjustments(1)						(46,257)
Asset retirement obligation at May 18, 2021 (Successor)						19,084
Liabilities incurred						37
Accretion expense						226
Asset retirement obligation at June 30, 2021						$	19,347

(1) See Note 3 for additional discussion of fresh start adjustments.

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Schedule Of Property And Equipment

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- Definition

Tabular disclosure of the carrying amount of a liability for asset retirement obligations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849

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Tabular disclosure of the capitalized costs of unproved properties and major development projects that are excluded from capitalized costs being amortized. This includes the total costs excluded and, at a minimum, these categories of costs: acquisition costs, exploration costs, development costs in the case of significant development projects, and capitalized interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 932
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-10(c)(7)(ii))
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