Leases (Tables)

9 Months Ended

Sep. 30, 2021

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


	Amount
	(In thousands)
Ending September 30,
2022	$	5,017
2023	3,339
2024	2,968
2025	2,095
2026	2,002
2027 and beyond	54
Total future payments	15,475
Less: Interest	1,689
Present value of future minimum operating lease payments	13,786
Less: Current portion	4,399
Total long-term operating lease payments	$	9,387

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	September 30, 2021		December 31, 2020
		(In thousands)
Assets
Operating right of use assets	Right of use assets	$	13,800	$	5,592
Finance right of use assets	Property, plant, and equipment, net	—		7,281
Total right of use assets		$	13,800	$	12,873

Liabilities
Current liabilities:
Operating lease liabilities	Current operating lease liabilities	$	4,399	$	4,075
Finance lease liabilities	Current portion of other long-term liabilities	—		3,216
Non-current liabilities:
Operating lease liabilities	Operating lease liabilities	9,387		1,445
Finance lease liabilities	Other long-term liabilities	—		—
Total lease liabilities		$	13,786	$	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		Successor		Predecessor		Successor		Predecessor
	Three Months Ended September 30, 2021		One Month Ended September 30, 2020		Two Months Ended August 31, 2020		Nine Months Ended September 30, 2021		Eight Months Ended August 31, 2020
	(In thousands)
Components of total lease cost:
Amortization of finance leased assets	$	—	$	350	$	696	$	1,248	$	2,757
Interest on finance lease liabilities	—		15		35		33		165
Operating lease cost	1,043		328		965		3,053		3,604
Short-term lease cost (1)	3,120		867		1,448		7,893		8,190
Variable lease cost	—		29		58		—		223
Total lease cost	$	4,163	$	1,589	$	3,202	$	12,227	$	14,939

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1.Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $0.8 million, $— million, $0.1 million, $1.0 million, and $1.5 million for the three months ended September 30, 2021, the one month ended September 30, 2020, the two months ended August 31, 2020, the nine months ended September 30, 2021, and eight months ended August 31, 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		Successor		Predecessor
	Nine Months Ended September 30, 2021		One Month Ended September 30, 2020		Eight Months Ended August 31, 2020
	(In thousands)
Cash paid for amounts in the measurement of lease liabilities:
Operating cash flows for operating leases	$	3,125	$	351	$	3,849
Financing cash flows for finance leases	$	3,216	$	350	$	2,757

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

3.9

5.51%

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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.