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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2022
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, 2020 | $ | (41,651) |
December 31, 2021 | $ | — |
December 31, 2022 | $ | — |
Schedule of Cash Flow, Supplemental Disclosures | Supplemental cash flow and non-cash information (in thousands)
| Successor |  |  | Predecessor
| Year Ended December 31, 2022 |  | Period from May 18, 2021 through December 31, 2021 |  |  | Period from January 1, 2021 through May 17, 2021 |  | Year Ended December 31, 2020
Supplemental disclosure of cash flow information: |  |  |  |  |  |  |  |
Cash paid for reorganization items, net | $ | — |  |  | $ | 85,706 |  |  |  | $ | 87,199 |  |  | $ | 24,553 |
Interest payments | 57,685 |  |  | 33,295 |  |  |  | 7,272 |  |  | 84,823 |
Income tax receipts | — |  |  | (9,381) |  |  |  | — |  |  | — |
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |
(Increase) decrease in accounts receivable - oil, natural gas, and natural gas liquids sales | (45,550) |  |  | (52,143) |  |  |  | (60,832) |  |  | 1,331 |
(Increase) decrease in accounts receivable - joint interest and other | (1,095) |  |  | (5,178) |  |  |  | (3,005) |  |  | 36,055 |
Increase (decrease) in accounts payable and accrued liabilities | 59,879 |  |  | (72,912) |  |  |  | 79,193 |  |  | 126,434 |
(Increase) decrease in prepaid expenses | 4,863 |  |  | 13,559 |  |  |  | 135,471 |  |  | (154,948) |
(Increase) decrease in other assets | 1,330 |  |  | 3,630 |  |  |  | 3,067 |  |  | (2,087) |
Total changes in operating assets and liabilities | $ | 19,427 |  |  | $ | (113,044) |  |  |  | $ | 153,894 |  |  | $ | 6,785 |
Supplemental disclosure of non-cash transactions: |  |  |  |  |  |  |  |
Capitalized stock-based compensation | $ | 2,948 |  |  | $ | 1,101 |  |  |  | $ | 930 |  |  | $ | 2,860 |
Asset retirement obligation capitalized | 2,169 |  |  | 7,964 |  |  |  | 546 |  |  | 2,358 |
Asset retirement obligation removed due to divestiture | (7) |  |  | — |  |  |  | — |  |  | (2,213) |
Interest capitalized | — |  |  | 198 |  |  |  | — |  |  | 907 |
Pre-petition revolver principal transfer to DIP credit facility | — |  |  | — |  |  |  | — |  |  | 157,500 |
Fair value of contingent consideration asset on date of divestiture | — |  |  | — |  |  |  | — |  |  | 23,090 |
Release of Common Stock held in reserve | 28,220 |  |  | 23,893 |  |  |  | — |  |  | — |
Foreign currency translation gain on equity method investments | — |  |  | — |  |  |  | 2,570 |  |  | 3,833 |
Schedule of Accounts Payable and Accrued Liabilities | Accounts payable and accrued liabilities consisted of the following at December 31, 2022 and December 31, 2021 (in thousands):
| Successor
| December 31, 2022 |  | December 31, 2021
Accounts payable and other accrued liabilities | $ | 117,529 |  |  | $ | 98,821 |
Revenue payable and suspense | 222,721 |  |  | 180,857 |
Accrued contract rejection damages and shares held in reserve | 40,996 |  |  | 69,216 |
Accrued transportation, gathering, processing, and compression | 56,138 |  |  | 45,117 |
Total accounts payable and accrued liabilities | $ | 437,384 |  |  | $ | 394,011 |

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