FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Recurring Fair Value Measurements [Table Text Block]

The following tables present our recurring fair value measurements as of the identified dates:

	Successor
	December 31, 2021
	Level 1		Level 2		Level 3		Total
	(In thousands)
Financial liabilities:
Commodity derivative liabilities	$	—	$	(58,731)	$	—	$	(58,731)
Warrant liability	—		—		(19,822)		(19,822)
	$	—	$	(58,731)	$	(19,822)	$	(78,553)

	Successor
	December 31, 2020
	Level 1		Level 2		Level 3		Total
	(In thousands)
Financial assets (liabilities):
Commodity derivative assets	$	—	$	3,436	$	—	$	3,436
Commodity derivative liabilities	—		(9,142)		—		(9,142)
Warrant liability	—		—		(885)		(885)
	$	—	$	(5,706)	$	(885)	$	(6,591)

Reconciliations Of Level 3 Fair Value Measurements [Table Text Block]

The following tables summarize the activity of our recurring Level 3 fair value measurements during the periods presented:

 

	Successor				Predecessor
	Year Ended December 31, 2021		Four Months Ended December 31, 2020		Eight Months Ended August 31, 2020
	(In thousands)
Beginning of period	$	885	$	—	$	1,204
Issuance of warrants	—		885		—
Loss on change in warrant liability	18,937		—		—
Gain/(loss) on unsettled three-way collars	—		—		978
Settlement loss on three-way collars	—		—		(2,182)
End of period	$	19,822	$	885	$	—