Nature of operations and summary of significant accounting policies (Tables)

9 Months Ended

Sep. 30, 2017

Accounts receivable consisted of the following:

	Successor			Predecessor
	September 30,			December 31,
	2017			2016
Joint interests	$	25,868		$	13,818
Accrued commodity sales		33,279			31,304
Derivative settlements		3,814			—
Other		1,581			1,657
Allowance for doubtful accounts		(590	)		(553	)
	$	63,952		$	46,226

Components of inventory

Inventories consisted of the following:

	Successor		Predecessor
	September 30,		December 31,
	2017		2016
Equipment inventory	$	2,704	$	8,165
Commodities		1,503		1,418
Inventory valuation allowance		—		(2,232	)
	$	4,207	$	7,351

Components of unevaluated oil and natural gas properties

The costs of unevaluated oil and natural gas properties consisted of the following:

	Successor		Predecessor
	September 30,		December 31,
	2017		2016
Leasehold acreage	$	584,765	$	15,455
Capitalized interest (1)		1,239		1,894
Wells and facilities in progress of completion		13,881		3,004
Total unevaluated oil and natural gas properties excluded from amortization	$	599,885	$	20,353

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(1)

As of September 30, 2017, this amount reflects the cumulative interest capitalized on the historical acquisition cost of leasehold acreage subsequent to our establishing opening balances under fresh start accounting. Interest is not capitalized on amounts related to the fair value increase to leasehold acreage as a result of applying fresh start accounting.

Components of cost reduction initiatives expense

Cost reduction initiatives include expenses related to our efforts to reduce our capital, operating and administrative costs in response to the depressed commodity pricing environment. The expense consists of costs for one-time severance and termination benefits in connection with our reductions in force and third party legal and professional services we have engaged to assist in our cost savings initiatives as follows:

	Successor		Predecessor
	Three months		Three months
	ended		ended
	September 30, 2017		September 30, 2016
One-time severance and termination benefits	$	30	$	89
Professional fees		4		—
Total cost reduction initiatives expense	$	34	$	89

	Successor		Predecessor
	Period from		Period from
	March 22, 2017		January 1, 2017		Nine months
	through		through		ended
	September 30, 2017		March 21, 2017		September 30, 2016
One-time severance and termination benefits	$	142	$	608	$	3,125
Professional fees		13		21		103
Total cost reduction initiatives expense	$	155	$	629	$	3,228