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BASIS OF PRESENTATION (Tables) | 9 Months Ended
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Sep. 30, 2022
Accounting Policies [Abstract] |
Schedule of Accounts Payable and Accrued Liabilities | Accounts payable and accrued liabilities consisted of the following at September 30, 2022 and December 31, 2021 (in thousands):
| Successor
| September 30, 2022 |  | December 31, 2021
Accounts payable and other accrued liabilities | $ | 202,838 |  |  | $ | 143,938 |
Revenue payable and suspense | 222,729 |  |  | 180,857 |
Accrued contract rejection damages and shares held in reserve | 40,996 |  |  | 69,216 |
Total accounts payable and accrued liabilities | $ | 466,563 |  |  | $ | 394,011 |
Fresh Start Adjustments | The following table summarizes the components in reorganization items, net included in the Company's consolidated statements of operations for the Current Successor YTD Period, Prior Successor Period, and Prior Predecessor YTD Period (in thousands):
| Successor |  |  | Predecessor
| Nine Months Ended September 30, 2022 |  | Period from May 18, 2021 through September 30, 2021 |  |  | Period from January 1, 2021 through May 17, 2021
Legal and professional advisory fees | $ | — |  |  | $ | — |  |  |  | $ | 81,565 |
Net gain on liabilities subject to compromise | — |  |  | — |  |  |  | (575,182) |
Fresh start adjustments, net | — |  |  | — |  |  |  | 160,756 |
Elimination of predecessor accumulated other comprehensive income | — |  |  | — |  |  |  | 40,430 |
Debt issuance costs | — |  |  | — |  |  |  | 3,150 |
Other items, net | — |  |  | — |  |  |  | 22,383 |
Reorganization items, net | $ | — |  |  | $ | — |  |  |  | $ | (266,898) |
Schedule of Cash Flow, Supplemental Disclosures | Supplemental Cash Flow and Non-Cash Information (in thousands)
| Successor |  |  | Predecessor
| Nine Months Ended September 30, 2022 |  | Period from May 18, 2021 through September 30, 2021 |  |  | Period from January 1, 2021 through May 17, 2021
Supplemental disclosure of cash flow information: |  |  |  |  |  |
Cash paid for reorganization items, net | $ | — |  |  | $ | 42,202 |  |  |  | $ | 87,199 |
Interest payments | $ | 30,102 |  |  | $ | 6,465 |  |  |  | $ | 7,272 |
Changes in operating assets and liabilities: |  |  |  |  |  |
(Increase) decrease in accounts receivable - oil, natural gas, and natural gas liquids sales | $ | (84,674) |  |  | $ | (5,230) |  |  |  | $ | (60,832) |
(Increase) decrease in accounts receivable - joint interest and other | $ | (14,947) |  |  | $ | 5,536 |  |  |  | $ | (3,005) |
Increase (decrease) in accounts payable and accrued liabilities | $ | 65,648 |  |  | $ | (48,903) |  |  |  | $ | 79,193 |
Decrease in prepaid expenses | $ | 3,061 |  |  | $ | 7,231 |  |  |  | $ | 135,471 |
Decrease in other assets | $ | 1,352 |  |  | $ | 106 |  |  |  | $ | 3,067 |
Total changes in operating assets and liabilities | $ | (29,560) |  |  | $ | (41,260) |  |  |  | $ | 153,894 |
Supplemental disclosure of non-cash transactions: |  |  |  |  |  |
Capitalized stock-based compensation | $ | 2,141 |  |  | $ | 484 |  |  |  | $ | 930 |
Asset retirement obligation capitalized | $ | 53 |  |  | $ | 55 |  |  |  | $ | 546 |
Asset retirement obligation removed due to divestiture | $ | (7) |  |  | $ | — |  |  |  | $ | — |
Interest capitalized | $ | — |  |  | $ | 117 |  |  |  | $ | — |
Release of common stock held in reserve | $ | 28,220 |  |  | $ | 23,893 |  |  |  | $ | — |
Foreign currency translation gain on equity method investments | $ | — |  |  | $ | — |  |  |  | $ | 2,570 |

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- Definition Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. + References No definition available. + Details
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