SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

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