XML 49 R39.htm IDEA: XBRL DOCUMENT v3.20.2
FRESH-START ACCOUNTING - Balance sheet effects (Details) - USD ($)
$ in Thousands
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Oct. 02, 2019
Oct. 01, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Current assets:                  
Cash and cash equivalents $ 401   $ 5,701 $ 15,546 $ 15,546        
Accounts receivable, net 23,792   48,504 37,826          
Assets from derivative contracts 27,229   4,995 15,310          
Restricted cash       13,839          
Prepaids and other 3,911   7,379 10,290          
Total current assets 55,333   71,153 92,811          
Oil and natural gas properties (full cost method):                  
Evaluated 496,489   420,609 380,364          
Unevaluated 104,408   105,009 108,954          
Gross oil and natural gas properties 600,897   525,618 489,318          
Less - accumulated depletion (111,188)   (19,474)            
Net oil and natural gas properties 489,709   506,144 489,318          
Other operating property and equipment:                  
Other operating property and equipment 3,529   3,655 3,655          
Less - accumulated depreciation (816)   (378)            
Net other operating property and equipment 2,713   3,277 3,655          
Other noncurrent assets:                  
Assets from derivative contracts 24,322   224 4,120          
Operating lease right of use assets 538   3,165 3,394          
Funds in escrow and other       1,138          
Total assets 578,591   584,666 594,436          
Current liabilities:                  
Accounts payable and accrued liabilities 66,365   97,333 115,305          
Liabilities from derivative contracts 8,466   8,069 6,829          
Current portion of long-term debt, net 1,031                
Operating lease liabilities 877   923 913          
Asset retirement obligations     109            
Total current liabilities 76,739   106,434 123,047          
Long-term debt, net 180,178   144,000 130,000          
Liabilities subject to compromise         625,005        
Other noncurrent liabilities:                  
Liabilities from derivative contracts 5,631   4,854 1,625          
Asset retirement obligations 10,794   10,481 10,153          
Operating lease liabilities 78   2,247 2,482          
Commitments and contingencies              
Stockholders' equity:                  
Common stock: 100,000,000 shares of $0.0001 par value authorized;16,203,967 and 16,203,940 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively 2   2 2          
Additional paid-in capital 328,454   327,108 327,127          
Retained earnings (accumulated deficit) (23,285)   (10,460)            
Total stockholders' equity 305,171 $ 431,577 316,650 327,129 30,477 $ 148,431 $ 214,157 $ 853,663 $ 1,197,044
Total liabilities and stockholders' equity $ 578,591   $ 584,666 594,436          
Reorganization Adjustments                  
Current assets:                  
Cash and cash equivalents         (1,463)        
Restricted cash         13,839        
Prepaids and other         7,110        
Total current assets         19,486        
Other noncurrent assets:                  
Total assets         19,486        
Current liabilities:                  
Accounts payable and accrued liabilities         2,727        
Current portion of long-term debt, net         (258,234)        
Total current liabilities         (255,507)        
Long-term debt, net         130,000        
Liabilities subject to compromise         (625,005)        
Stockholders' equity:                  
Common stock: 100,000,000 shares of $0.0001 par value authorized;16,203,967 and 16,203,940 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively       2 (16)        
Additional paid-in capital       $ 327,127 (1,087,441)        
Retained earnings (accumulated deficit)         1,530,326        
Total stockholders' equity         769,998        
Total liabilities and stockholders' equity         19,486        
Fresh Start Adjustments                  
Current assets:                  
Prepaids and other         (11,462)        
Total current assets         (11,462)        
Oil and natural gas properties (full cost method):                  
Evaluated         (1,774,924)        
Unevaluated         (329,411)        
Gross oil and natural gas properties         (2,104,335)        
Less - accumulated depletion         1,709,719        
Net oil and natural gas properties         (394,616)        
Other operating property and equipment:                  
Other operating property and equipment         (199,718)        
Less - accumulated depreciation         14,416        
Net other operating property and equipment         (185,302)        
Other noncurrent assets:                  
Operating lease right of use assets         (300)        
Total assets         (591,680)        
Current liabilities:                  
Operating lease liabilities         (424)        
Total current liabilities         (424)        
Other noncurrent liabilities:                  
Operating lease liabilities         44        
Stockholders' equity:                  
Retained earnings (accumulated deficit)         (591,300)        
Total stockholders' equity         (591,300)        
Total liabilities and stockholders' equity         (591,680)        
Predecessor                  
Current assets:                  
Cash and cash equivalents         17,009        
Accounts receivable, net         37,826        
Assets from derivative contracts         15,310        
Prepaids and other         14,642        
Total current assets         84,787        
Oil and natural gas properties (full cost method):                  
Evaluated         2,155,288        
Unevaluated         438,365        
Gross oil and natural gas properties         2,593,653        
Less - accumulated depletion         (1,709,719)        
Net oil and natural gas properties         883,934        
Other operating property and equipment:                  
Other operating property and equipment         203,373        
Less - accumulated depreciation         (14,416)        
Net other operating property and equipment         188,957        
Other noncurrent assets:                  
Assets from derivative contracts         4,120        
Operating lease right of use assets         3,694        
Funds in escrow and other         1,138        
Total assets         1,166,630        
Current liabilities:                  
Accounts payable and accrued liabilities         112,578        
Liabilities from derivative contracts         6,829        
Current portion of long-term debt, net         258,234        
Operating lease liabilities         1,337        
Total current liabilities         378,978        
Liabilities subject to compromise         625,005        
Other noncurrent liabilities:                  
Liabilities from derivative contracts         1,625        
Asset retirement obligations         10,153        
Operating lease liabilities         2,438        
Stockholders' equity:                  
Common stock: 100,000,000 shares of $0.0001 par value authorized;16,203,967 and 16,203,940 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively         16        
Additional paid-in capital         1,087,441        
Retained earnings (accumulated deficit)         (939,026)        
Total stockholders' equity         148,431        
Total liabilities and stockholders' equity         $ 1,166,630