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SUPPLEMENTAL INFORMATION ON OIL AND GAS EXPLORATION AND PRODUCTION ACTIVITIES (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2023
Extractive Industries [Abstract]  
Schedule of Capitalized Costs Related to Oil and Gas Producing Activities
Capitalized Costs Related to Oil and Gas Producing Activities (in thousands)
Successor
Year Ended December 31, 2023Year Ended December 31, 2022
Proved properties$2,904,519 $2,418,666 
Unproved properties204,233 178,472 
Total oil and natural gas properties3,108,752 2,597,138 
Accumulated depletion and amortization(862,253)(543,780)
Net capitalized costs$2,246,499 $2,053,358 
Schedule of Cost Incurred in Oil and Gas Property Acquisition and Development Activities
Costs Incurred in Oil and Gas Property Acquisition and Development Activities (in thousands)
SuccessorPredecessor
Year Ended December 31, 2023Year Ended December 31, 2022Period from May 18, 2021 through December 31, 2021Period from January 1, 2021 through May 17, 2021
Acquisition$93,905 $29,675 $13,411 $3,922 
Development419,431 441,458 191,193 112,986 
Exploratory— — — — 
Total$513,336 $471,133 $204,604 $116,908 
Schedule of Results of Operations for Oil and Gas Production Activities The results of operations exclude general office overhead and interest expense attributable to oil and gas production.
SuccessorPredecessor
Year Ended December 31, 2023Year Ended December 31, 2022Period from May 18, 2021 through December 31, 2021Period from January 1, 2021 through May 17, 2021
Revenues$1,051,383 $2,330,859 $1,092,584 $410,276 
Production costs(450,996)(482,175)(274,428)(192,959)
Depletion(318,473)(266,449)(159,518)(60,831)
Impairment— — (117,813)— 
Income tax benefit525,156 — 39 7,968 
Results of operations from producing activities$807,070 $1,582,235 $540,864 $164,454 
Depletion per Mcf of gas equivalent (Mcfe)$0.83 $0.74 $0.69 $0.45 
Schedule of Oil and Gas Reserves These estimates are reviewed annually and revised, either upward or downward, as warranted by additional performance data.
Oil (MMBbl)Natural Gas (Bcf)NGL (MMBbl)Natural Gas Equivalent (Bcfe)
Proved Reserves
December 31, 2020 (Predecessor)13 2,281 38 2,588 
Purchases of reserves— — — — 
Extensions and discoveries2 617 11 695 
Sales of reserves— — — — 
Revisions of prior reserve estimates2 913 9 982 
Current production(2)(333)(4)(366)
December 31, 2021 (Successor)16 3,478 54 3,898 
Purchases of reserves— — — — 
Extensions and discoveries3 391 5 439 
Sales of reserves— — — — 
Revisions of prior reserve estimates— 66 — 70 
Current production(2)(322)(4)(359)
December 31, 2022 (Successor)18 3,612 54 4,048 
Purchases of reserves— — — — 
Extensions and discoveries6 875 14 996 
Sales of reserves— — — — 
Revisions of prior reserve estimates(4)(411)(1)(445)
Current production(1)(350)(4)(385)
December 31, 2023 (Successor)19 3,725 63 4,214 
Proved developed reserves
December 31, 2020 (Predecessor)7 1,358 22 1,527 
December 31, 2021 (Successor)8 1,928 31 2,165 
December 31, 2022 (Successor)9 2,034 34 2,295 
December 31, 2023 (Successor)6 1,980 31 2,203 
Proved undeveloped reserves
December 31, 2020 (Predecessor)7 923 16 1,061 
December 31, 2021 (Successor)8 1,550 22 1,733 
December 31, 2022 (Successor)9 1,578 20 1,752 
December 31, 2023 (Successor)12 1,746 32 2,011 
Totals may not sum or recalculate due to rounding.
Schedule of Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves
The following table summarizes estimated future net cash flows from natural gas and crude oil reserves (in millions):
Successor
Year Ended December 31, 2023Year Ended December 31, 2022Year Ended December 31, 2021
Future cash flows$12,338 $26,677 $14,938 
Future development and abandonment costs(1,625)(1,588)(1,141)
Future production costs(5,641)(5,872)(5,227)
Future production taxes(303)(553)(336)
Future income taxes(63)(2,609)(437)
Future net cash flows4,706 16,055 7,797 
10% discount to reflect timing of cash flows(2,323)(7,776)(3,659)
Standardized measure of discounted future net cash flows$2,383 $8,279 $4,138 
Totals may not sum or recalculate due to rounding.
Schedule of Future Costs to Settle Asset Retirement Obligations The following table summarizes the total of all future costs to settle asset retirement obligations that are included in future development and abandonment costs above (in millions):
Successor
Year Ended December 31, 2023Year Ended December 31, 2022Year Ended December 31, 2021
Future asset retirement obligations$229 $222 $205 
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves
Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves
The principal source of change in the standardized measure of discounted future net cash flows relating to proved reserves is presented in the table below (in millions):
Successor
Year Ended December 31, 2023Year Ended December 31, 2022Year Ended December 31, 2021
Sales and transfers of oil and gas produced, net of production costs$(600)$(1,849)$(1,035)
Net changes in prices, production costs, and development costs(7,181)5,130 2,596 
Acquisition of oil and gas reserves in place— — — 
Extensions and discoveries581 941 639 
Previously estimated development costs incurred during the period263 204 149 
Revisions of previous quantity estimates, less related production costs(278)154 858 
Sales of oil and gas reserves in place— (1)(1)
Accretion of discount828 414 54 
Net changes in income taxes1,219 (1,067)(178)
Change in production rates and other(728)215 516 
Total change in standardized measure of discounted future net cash flows$(5,896)$4,141 $3,598