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BASIS OF PRESENTATION (Tables)

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Disaggregation of Revenue

Revenue attributable to each identified revenue stream is disaggregated below (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Operating Revenues:
Crude oil sales			$	116,091					$	28,934					$	166,155					$	80,080
Natural gas sales			15,168						4,712						28,300						10,730
Natural gas liquids sales			24,776						2,546						35,739						5,787
Oil and gas sales			$	156,035					$	36,192					$	230,194					$	96,597

Schedule of Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheets, which sums to the total of such amounts shown in the accompanying condensed consolidated statements of cash flows (“statements of cash flows”) (in thousands):

			As of June 30,
			2021						2020
Cash and cash equivalents			$	24,403					$	4,144
Restricted cash(1)			102						94
Total cash, cash equivalents, and restricted cash			$	24,505					$	4,238

__________________________

(1) Included in other noncurrent assets and consists of funds for road maintenance and repairs.

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheets, which sums to the total of such amounts shown in the accompanying condensed consolidated statements of cash flows (“statements of cash flows”) (in thousands):

			As of June 30,
			2021						2020
Cash and cash equivalents			$	24,403					$	4,144
Restricted cash(1)			102						94
Total cash, cash equivalents, and restricted cash			$	24,505					$	4,238

__________________________

(1) Included in other noncurrent assets and consists of funds for road maintenance and repairs.

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses contain the following (in thousands):

			As of June 30, 2021						As of December 31, 2020
Accrued drilling and completion costs			$	16,738					$	453
Accounts payable trade			13,150						1,931
Accrued general and administrative expense			6,046						4,942
Accrued merger transaction costs			2,426						2,587
Accrued lease operating expense			4,298						1,793
Accrued interest expense			3,368						322
Accrued oil and gas hedging			8,820						—
Accrued production and ad valorem taxes and other			28,251						25,397
Total accounts payable and accrued expenses			$	83,097					$	37,425

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

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-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
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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.

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