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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2021
Accounting Policies [Abstract] |
Schedule of Cumulative Translation Adjustments | The following table presents the balances of the Company’s cumulative translation adjustments included in accumulated other comprehensive loss, exclusive of taxes:
| (In thousands)
December 31, 2019 | $ | (45,484) |
December 31, 2020 | $ | (41,651) |
December 31, 2021 | $ | — |
Schedule of Cash Flow, Supplemental Disclosures | Supplemental cash flow and non-cash information (in thousands)
| Successor |  |  | Predecessor
| Period from May 18, 2021 through December 31, 2021 |  |  | Period from January 1, 2021 through May 17, 2021 |  | Year Ended December 31, 2020 |  | Year Ended December 31, 2019
Supplemental disclosure of cash flow information: |  |  |  |  |  |  |  |
Cash paid for reorganization items, net | $ | 85,706 |  |  |  | $ | 87,199 |  |  | $ | 24,553 |  |  | $ | — |
Interest payments | 33,295 |  |  |  | 7,272 |  |  | 84,823 |  |  | 142,664 |
Income Tax Receipts | (9,381) |  |  |  | — |  |  | — |  |  | (1,794) |
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |
(Increase) decrease in accounts receivable - oil and natural gas sales | (52,143) |  |  |  | (60,832) |  |  | 1,331 |  |  | 88,990 |
(Increase) decrease in accounts receivable - joint interest and other | (5,178) |  |  |  | (3,005) |  |  | 36,055 |  |  | (25,478) |
(Decrease) increase in accounts payable and accrued liabilities | (72,912) |  |  |  | 79,193 |  |  | 126,434 |  |  | (19,821) |
Decrease (increase) in prepaid expenses | 13,559 |  |  |  | 135,471 |  |  | (154,948) |  |  | 5,586 |
Decrease (increase) in other assets | 3,630 |  |  |  | 3,067 |  |  | (2,087) |  |  | 915 |
Total changes in operating assets and liabilities | $ | (113,044) |  |  |  | $ | 153,894 |  |  | $ | 6,785 |  |  | $ | 50,192 |
Supplemental disclosure of non-cash transactions: |  |  |  |  |  |  |  |
Capitalized stock-based compensation | $ | 1,101 |  |  |  | $ | 930 |  |  | $ | 2,860 |  |  | $ | 5,766 |
Asset retirement obligation capitalized | 7,964 |  |  |  | 546 |  |  | 2,358 |  |  | 6,883 |
Asset retirement obligation removed due to divestiture | — |  |  |  | — |  |  | (2,213) |  |  | (30,146) |
Interest capitalized | 198 |  |  |  | — |  |  | 907 |  |  | 3,372 |
Pre-petition revolver principal transfer to DIP credit facility | — |  |  |  | — |  |  | 157,500 |  |  | — |
Fair value of contingent consideration asset on date of divestiture | — |  |  |  | — |  |  | 23,090 |  |  | (1,137) |
Release of New Common Stock Held in Reserve | 23,893 |  |  |  | — |  |  | — |  |  | — |
Foreign currency translation gain on equity method investments | — |  |  |  | 2,570 |  |  | 3,833 |  |  | 9,193 |
Schedule of Accounts Payable and Accrued Liabilities | Accounts payable and accrued liabilities consisted of the following at December 31, 2021 and December 31, 2020 (in thousands):
| Successor |  |  | Predecessor
| December 31, 2021 |  |  | December 31, 2020
Accounts payable and other accrued liabilities | $ | 143,938 |  |  |  | $ | 120,275 |
Revenue payable and suspense | 180,857 |  |  |  | 124,628 |
Accrued contract rejection damages and shares held in reserve | 69,216 |  |  |  | — |
Total accounts payable and accrued liabilities | $ | 394,011 |  |  |  | $ | 244,903 |

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