Leases (Tables)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Operating leases

The following table sets forth the maturity of our operating lease liabilities as of June 30, 2021:

	Amount
	(In thousands)
Ending June 30,
2022	$	3,686
2023	1,528
2024	1,271
2025	86
2026	12
2027 and beyond	57
Total future payments	6,640
Less: Interest	269
Present value of future minimum operating lease payments	6,371
Less: Current portion	3,515
Total long-term operating lease payments	$	2,856

Schedule of lease assets and liabilities

The following table shows information about our lease assets and liabilities on our unaudited condensed consolidated balance sheets:

	Classification on the unaudited condensed consolidated balance sheets	June 30, 2021		December 31, 2020
		(In thousands)
Assets
Operating right of use assets	Right of use assets	$	6,406	$	5,592
Finance right of use assets	Property, plant, and equipment, net	—		7,281
Total right of use assets		$	6,406	$	12,873
Liabilities
Current liabilities:
Operating lease liabilities	Current operating lease liabilities	$	3,515	$	4,075
Finance lease liabilities	Current portion of other long-term liabilities	—		3,216
Non-current liabilities:
Operating lease liabilities	Operating lease liabilities	2,856		1,445
Finance lease liabilities	Other long-term liabilities	—		—
Total lease liabilities		$	6,371	$	8,736

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		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)
Components of total lease cost:
Amortization of finance leased assets	$	181	$	1,036	$	1,248	$	2,061
Interest on finance lease liabilities	4		60		33		130
Operating lease cost	984		1,395		2,011		2,640
Short-term lease cost (1)	3,179		2,751		5,771		6,742
Variable lease cost	—		83		—		165
Total lease cost	$	4,348	$	5,325	$	9,063	$	11,737

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1.Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $0.1 million, $0.4 million, $0.2 million, and $1.4 million for the three and six months ended June 30, 2021 and June 30, 2020, respectively.

Supplemental cash flow information related to leases

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

	Successor		Predecessor
	Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
	(In thousands)
Cash paid for amounts in the measurement of lease liabilities:
Operating cash flows for operating leases	$	2,063	$	2,827
Financing cash flows for finance leases	$	3,216	$	2,061

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:

	Weighted Average Remaining Lease Term	Weighted Average Discount Rate (1)
	(In years)
Operating leases	2.4	3.81%

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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.