DERIVATIVES (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Non-designated Hedges Outstanding [Table Text Block]

The following non-designated hedges were outstanding as of December 31, 2021:

Term	Commodity	Contracted Volume	Weighted Average  Fixed Price for Swaps	Contracted Market
Jan'22 - Dec'22	Natural gas - swap	5,000 MMBtu/day	$2.61	IF - NYMEX (HH)
Jan'23 - Dec'23	Natural gas - swap	22,000 MMBtu/day	$2.46	IF - NYMEX (HH)
Jan'22 - Dec'22	Natural gas - collar	35,000 MMBtu/day	$2.50 - $2.68	IF - NYMEX (HH)
Jan'22 - Jun'22	Crude oil - swap	986 Bbl/day	$70.30	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 [Table Text Block]

The following tables present the recognized derivative assets and liabilities on our consolidated balance sheets as of the dates identified:

		As of December 31, 2021
	Balance Sheet Classification	Presented Gross		Effects of Netting		Presented Net
		(In thousands)
Liabilities:
Current Commodity Derivatives	Current derivative liabilities	$	40,876	$	—	$	40,876
Long-term Commodity Derivatives	Non-current derivative liabilities	17,855		—		17,855
Warrant Liability	Warrant liability	19,822		—		19,822
Total derivative liabilities		$	78,553	$	—	$	78,553

		As of December 31, 2020
	Balance Sheet Classification	Presented Gross		Effects of Netting		Presented Net
		(In thousands)
Assets:
Current commodity derivatives	Current derivative assets	$	3,292	$	(3,292)	$	—
Long-term commodity derivatives	Non-current derivative assets	144		(144)		—
Total derivative assets		$	3,436	$	(3,436)	$	—
Liabilities:
Current Commodity Derivatives	Current derivative liabilities	$	4,339	$	(3,292)	$	1,047
Long-term Commodity Derivatives	Non-current derivative liabilities	4,803		(144)		4,659
Warrant Liability	Warrant liability	885		—		885
Total derivative liabilities		$	10,027	$	(3,436)	$	6,591

Effect Of Derivative Instruments Recognized In Statement Of Operations, Not Designated As Hedging Instruments [Table Text Block]

The following table shows the activity related to derivative instruments in the consolidated statements of operations for the periods indicated:

	Successor				Predecessor
	Year Ended December 31, 2021		Four Months Ended December 31, 2020		Eight Months Ended August 31, 2020
	(In thousands)
Loss on derivatives	$	(97,615)	$	(985)	$	(10,704)
Cash settlements paid on commodity derivatives	(44,591)		(1,133)		(4,244)
Loss on derivatives less cash settlements paid on commodity derivatives	$	(53,025)	$	148	$	(6,460)
Loss on change in fair value of warrants	$	(18,937)	$	—	$	—