ASSET RETIREMENT OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2021

Asset Retirement Obligation Disclosure [Abstract]

Schedule Of Asset Retirement Obligations [Table Text Block]

The following table summarizes activity for our estimated AROs during the year ended December 31, 2021 (in thousands):

December 31, 2020 (Successor)	$	23,356
Accretion of discount	1,892
Liability incurred	7
Liability settled	(1,140)
Liability sold	(1,935)
Revision of estimates (1)	3,507
December 31, 2021 (Successor)	25,688
Less: current portion (Successor)	2,537
Long-term ARO liability (Successor)	$	23,151

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1.Plugging liability estimates were revised for updates in the cost of services used to plug wells over the preceding year and estimated dates to be plugged.

The following table summarizes activity for our estimated AROs during the eight months ended August 31, 2020 and the four months ended December 31, 2020 (in thousands):

December 31, 2019 (Predecessor)	$	66,627
Accretion of discount	1,545
Liability incurred	465
Liability settled	(838)
Liability sold	(487)
Revision of estimates (1)	(28,328)
August 31, 2020 (Predecessor)	38,984
Fresh start adjustments	(14,393)
August 31, 2020 (Successor)	24,591
Accretion of discount	467
Liability incurred	151
Liability settled	(95)
Revision of estimates (1)	(1,758)
December 31, 2020 (Successor)	23,356
Less: current portion (Successor)	2,121
Long-term ARO liability (Successor)	$	21,235

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1.Plugging liability estimates were revised for updates in the cost of services used to plug wells over the preceding year and estimated dates to be plugged.