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PROPERTY AND EQUIPMENT (Tables)

9 Months Ended

Sep. 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 September 30, 2021 and December 31, 2020 are as follows:

			Successor									Predecessor
			September 30, 2021									December 31, 2020
Proved oil and natural gas properties			$	1,831,762								$	9,359,866
Unproved properties			216,357									1,457,043
Other depreciable property and equipment			4,891									85,530
Land			386									3,008
Total property and equipment			2,053,396									10,905,447
Accumulated DD&A and impairment			(212,403)									(8,819,178)
Property and equipment, net			$	1,840,993								$	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 September 30, 2021:

			Successor
			September 30, 2021
			(In thousands)
Utica			$	179,449
SCOOP			36,905
Other			3
Total unproved properties			$	216,357

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
Liabilities incurred						19
Accretion expense						488
Asset retirement obligation at September 30, 2021						$	19,854

(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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