STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule Of Restricted Stock Awards [Table Text Block]

The following table summarizes the stock-based compensation expense activity recognized during the following periods:

	Successor				Predecessor
	Year Ended December 31, 2021		Four Months Ended December 31, 2020		Eight Months Ended August 31, 2020 (1)
	(In thousands)
Recognized stock compensation expense	$	826	$	—	$	6,065
Capitalized stock compensation cost for our oil and natural gas properties	$	—	$	—	$	—
Tax benefit on stock-based compensation	$	202	$	—	$	1,486

_______________________

1.When the company's equity-based awards were cancelled on the Effective Date, we immediately recognized the expense for the cancelled awards of $1.4 million as reorganization costs.

Activity Pertaining To Restricted Stock Awards [Table Text Block]

Successor Period activity pertaining to nonvested RSUs under the LTIP is as follows:

	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested at December 31, 2020 (Successor) (1)	—	$	—
Granted (2)	315,529	26.71
Vested	—	—
Forfeited	—	—
Nonvested at December 31, 2021 (Successor) (3)	315,529	$	26.71

_______________________

1.There was no activity during the four months ended December 31, 2020.

2.The grants had an aggregate grant date fair value of $8.4 million. Director grants will vest 25% on each of the following dates: May 27, 2022, September 3, 2022, September 3, 2023, and September 3, 2024. Employee grants will one-third vest on each of the following dates: November 21, 2022, October 1, 2023, and October 1, 2024.

3.The aggregate compensation cost related to nonvested RSUs not yet recognized as of December 31, 2021 was $7.9 million with a weighted average remaining service period of 1.7 years.

Successor Period activity pertaining to outstanding stock options under the LTIP is as follows:

	Number of Shares	Weighted Average Exercise Price
Outstanding at December 31, 2020 (Successor) (1)	—	$	—
Granted (2)	361,418	45.00
Exercised	—	—
Forfeited or expired	—	—
Outstanding at December 31, 2021 (Successor) (3)	361,418	$	45.00

_______________________

1.There was no activity during the four months ended December 31, 2020.

2.The grants had an aggregate grant date fair value of $4.1 million and will one-third vest on each of the following dates: October 1, 2022, October 1, 2023, and October 1, 2024. The options have a five year term from the grant date.

3.The stock options outstanding as of December 31, 2021 had a weighted average remaining contractual term of 4.8 years and no aggregate intrinsic value. None of the stock options outstanding as of December 31, 2021 were exercisable. The aggregate compensation cost related to outstanding options not yet recognized as of December 31, 2021 was $3.9 million with a weighted average remaining service period of 1.8 years.

Predecessor Period activity pertaining to nonvested RSUs under the Amended plan is as follows:

Employees	Number of Time Vested Shares	Number of Performance Vested Shares	Total Number of Shares	Weighted Average Price
Nonvested at December 31, 2019 (Predecessor)	1,527,648	841,374	2,369,022	$	18.95
Granted	—	—	—	—
Vested	(677,076)	—	(677,076)	19.95
Forfeited	(272,396)	(503,809)	(776,205)	19.28
Nonvested at August 31, 2020 (Predecessor)	578,176	337,565	915,741	$	17.92
Cancelled	(578,176)	(337,565)	(915,741)	17.92
Nonvested at September 1, 2020 (Successor)	—	—	—	$	—

Non-Employee Directors	Number of Shares	Weighted Average Price
Nonvested at December 31, 2019 (Predecessor)	118,688	$	14.83
Granted	—	—
Vested	(48,475)	15.88
Forfeited	—	—
Nonvested at August 31, 2020 (Predecessor)	70,213	$	14.10
Cancelled	(70,213)	14.10
Nonvested at September 1, 2020 (Successor)	—	$	—

Activity Pertaining to Nonemployee Director Stock Award Plan [Table Text Block]

Predecessor Period activity pertaining to outstanding stock options under the Non-Employee Directors' Stock Option Plan for the identified periods is as follows:

	Number of Shares	Weighted Average Exercise Price
Outstanding at December 31, 2019 (Predecessor)	42,000	$	48.56
Granted	—	—
Exercised	—	—
Forfeited	(14,000)	41.21
Outstanding at August 31, 2020 (Predecessor)	28,000	$	52.24
Cancelled	(28,000)	52.24
Outstanding at September 1, 2020 (Successor)	—	$	—