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REVENUE (Tables)
6 Months Ended
Jun. 30, 2019
REVENUE [Abstract]  
Schedule of Revenue Disaggregated by Product and Service

The following table disaggregates revenue by significant product and service type:

 

 

 

 

 

 

 

 

 

 

 

 

 

Successor

 

 

Predecessor

 

    

Three Months

    

One Month

  

  

Two Months

 

 

Ended

 

Ended

 

 

Ended

 

 

June 30, 2019

 

June 30, 2018

 

 

May 31, 2018

Oil

 

$

8,076

 

$

7,161

 

 

$

17,555

Natural gas (1)

 

 

16,541

 

 

8,664

 

 

 

14,562

Natural gas liquids (1)

 

 

5,512

 

 

5,710

 

 

 

10,632

Oil, natural gas and natural gas liquids revenues

 

 

30,129

 

 

21,535

 

 

 

42,749

Transportation and marketing–related revenues

 

 

458

 

 

185

 

 

 

340

Total revenues

 

$

30,587

 

$

21,720

 

 

$

43,089

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Successor

 

 

Predecessor

 

    

Six Months

    

One Month

  

  

Five Months

 

 

Ended

 

Ended

 

 

Ended

 

 

June 30, 2019

 

June 30, 2018

 

 

May 31, 2018

Oil

 

$

17,509

 

$

7,161

 

 

$

42,460

Natural gas (1)

 

 

40,342

 

 

8,664

 

 

 

40,951

Natural gas liquids (1)

 

 

15,564

 

 

5,710

 

 

 

26,896

Oil, natural gas and natural gas liquids revenues

 

 

73,415

 

 

21,535

 

 

 

110,307

Transportation and marketing–related revenues

 

 

1,018

 

 

185

 

 

 

724

Total revenues

 

$

74,433

 

$

21,720

 

 

$

111,031


(1)

The Company recognizes wet gas revenues, which are recorded net of transportation, gathering and processing expenses, partially as natural gas revenues and partially as natural gas liquids revenues based on the end products after processing occurs. For the Successor period of the three months ended June 30, 2019, wet gas revenues were $0.5 million which were recognized as natural gas liquids revenues. For the Successor period of the six months ended June 30, 2019, wet gas revenues were $3.8 million which were recognized as $1.5 million of natural gas revenues and $2.3 million of natural gas liquids revenues. For the Successor period of the one month ended June 30, 2018, wet gas revenues were $1.5 million which were recognized as $0.5 million of natural gas revenues and $1.0 million of natural gas liquids revenues. For the Predecessor period of the two months ended May 31, 2018, wet gas revenues were $3.3 million which were recognized as $1.4 million of natural gas revenues and $1.9 million of natural gas liquids revenues. For the Predecessor period of the five months ended May 31, 2018, wet gas revenues were $8.4 million which were recognized as $3.2 million of natural gas revenues and $5.2 million of natural gas liquids revenues.