Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Operating leases

The following table sets forth the maturity of our operating lease liabilities as of December 31, 2020:

	Amount
	(In thousands)
Ending December 31,
2021	$	4,232
2022	1,305
2023	96
2024	12
2025	12
2026 and beyond	63
Total future payments	5,720
Less: Interest	200
Present value of future minimum operating lease payments	5,520
Less: Current portion	4,075
Total long-term operating lease payments	$	1,445

Finance leases

Future payments required under the finance leases at December 31, 2020 are as follows:

	Amount
Ending December 31,	(In thousands)
2021	$	3,774
Total future payments	3,774
Less payments related to:
Maintenance	525
Interest	33
Present value of future minimum payments	3,216
Less: Current portion	3,216
Total long-term finance lease payments	$	—

Schedule of lease assets and liabilities

Information about our lease assets and liabilities included in our Consolidated Balance Sheets as of December 31, 2020 and 2019 are as follows:

		Successor		Predecessor
	Classification on the Consolidated Balance Sheets	December 31, 2020		December 31, 2019
		(In thousands)
Assets
Operating right of use assets	Right of use assets	$	5,592	$	5,673
Finance right of use assets	Property, plant, and equipment, net	7,281		17,396
Total right of use assets		$	12,873	$	23,069
Liabilities
Current liabilities:
Operating lease liabilities	Current operating lease liabilities	$	4,075	$	3,430
Finance lease liabilities	Current portion of other long-term liabilities	3,216		4,164
Non-current liabilities:
Operating lease liabilities	Operating lease liabilities	1,445		2,071
Finance lease liabilities	Other long-term liabilities	—		3,215
Total lease liabilities		$	8,736	$	12,880

Schedule of lease costs

The following table shows certain information related to the lease costs for our finance and operating leases for the periods indicated:

		Successor		Predecessor
		Period September 1, 2020 through December 31, 2020		Period January 1, 2020 through August 31, 2020		Year Ended December 31, 2019
	(In thousands)
Components of total lease cost:
Amortization of finance leased assets		$	1,406	$	2,757	$	4,001
Interest on finance lease liabilities		54		165		382
Operating lease cost		1,331		3,604		4,034
Short-term lease cost, included are amounts capitalized related to our oil and natural gas segment of less than $0.2 million, $1.5 million, and $24.7 million, respectively		3,664		8,190		38,868
Variable lease cost		64		223		351
Total lease cost		$	6,519	$	14,939	$	47,636

Supplemental cash flow information related to leases

The following table provides supplemental cash flow information related to leases for the periods indicated:

	Successor		Predecessor
	Period September 1, 2020 through December 31, 2020		Period January 1, 2020 through August 31, 2020		Year Ended December 31, 2019
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,489	$	3,849	$	4,034
Financing cash flows for finance leases	1,407		2,757		4,001
Lease liabilities recognized in exchange for new operating lease right of use assets	—		—		5

Schedule of weighted average discount rate for leases

The following table shows certain information related to the weighted average remaining lease terms and the weighted average discount rates for our operating and finance leases at December 31, 2020:

	Weighted Average Remaining Lease Term	Weighted Average Discount Rate (1)
	(In years)
Operating leases	1.6	4.41%
Finance leases	0.7	4.00%

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1.Our weighted average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease.