Derivatives (Tables)

6 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives outstanding

As of June 30, 2021, these derivatives were outstanding:

Term	Commodity	Contracted Volume	Weighted Average  Fixed Price	Contracted Market
Jul'21 - Dec'21	Natural gas - basis swap	30,000 MMBtu/day	$(0.215)	NGPL TEXOK
Jul'21 - Oct'21	Natural gas - swap	50,000 MMBtu/day	$2.818	IF - NYMEX (HH)
Nov'21 - Dec'21	Natural gas - swap	45,000 MMBtu/day	$2.900	IF - NYMEX (HH)
Jan'22 - Dec'22	Natural gas - swap	5,000 MMBtu/day	$2.605	IF - NYMEX (HH)
Jan'23 - Dec'23	Natural gas - swap	22,000 MMBtu/day	$2.456	IF - NYMEX (HH)
Jan'22 - Dec'22	Natural gas - collar	35,000 MMBtu/day	$2.50 - $2.68	IF - NYMEX (HH)
Jul'21 - Dec'21	Crude oil - swap	3,373 Bbl/day	$45.57	WTI - NYMEX
Jan'22 - Dec'22	Crude oil - swap	2,300 Bbl/day	$42.25	WTI - NYMEX
Jan'23 - Dec'23	Crude oil - swap	1,300 Bbl/day	$43.60	WTI - NYMEX

Fair Value of Derivative Instruments and Locations in Balance Sheets

The following tables present the fair values and locations of the derivative transactions recorded on our unaudited condensed consolidated balance sheets:

		Derivative Liabilities
		Fair Value
	Classification on the unaudited condensed consolidated balance sheets	June 30, 2021		December 31, 2020
		(In thousands)
Commodity derivatives:
Current	Current derivative liability	$	37,960	$	1,047
Long-term	Non-current derivative liability	23,270		4,659
Total derivative liabilities		$	61,230	$	5,706

Effect of Derivative Instruments Recognized in Income Statements, Derivative Instruments

Following is the effect of derivative instruments on the unaudited condensed consolidated statements of operations for the periods indicated:

	Successor		Predecessor		Successor		Predecessor
	Three Months Ended June 30, 2021		Three Months Ended June 30, 2020		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
	(In thousands)
Loss on derivatives:
Loss on derivatives, included are amounts settled during the period of $(6,403), $(1,243), $(9,707), and $(691), respectively	$	(42,400)	$	(6,937)	$	(65,231)	$	(6,454)
	$	(42,400)	$	(6,937)	$	(65,231)	$	(6,454)