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RELATED PARTY BALANCES
6 Months Ended
Jun. 30, 2018
Related Party Transactions [Abstract]  
RELATED PARTY BALANCES

(9)

RELATED PARTY BALANCES

 

The company maintained the following balances with related parties as of June 30, 2018 and December 31, 2017:

 

 

 

Successor

 

 

 

June 30,

 

 

December 31,

 

(In thousands)

 

2018

 

 

2017

 

Due from related parties:

 

 

 

 

 

 

 

 

Sonatide (Angola)

 

$

152,826

 

 

 

230,315

 

DTDW (Nigeria)

 

 

44,233

 

 

 

33,353

 

 

 

 

 

 

 

 

 

 

Due to related parties:

 

 

 

 

 

 

 

 

Sonatide (Angola)

 

$

46,742

 

 

 

99,448

 

DTDW (Nigeria)

 

 

15,611

 

 

 

9,645

 

 

 

 

 

 

 

 

 

 

Due from related parties, net of due to related parties

 

$

134,706

 

 

 

154,575

 

 

Included in due from related parties balances are customer receivables expected to be remitted to the company through joint ventures, receivables related to operating expenses paid by the company on behalf of joint ventures and cash received by joint ventures from customers and due to the company.  Included in the due to related parties balances are commissions payable by the company to the related parties  and payables related to local expenses paid by the related parties on behalf of the company. For more information regarding amounts due to and from Sonatide please refer to Note (10). Amounts due from and due to DTDW (Nigeria) of $33.4 million and $9.6 million, respectively, are included in trade and other receivables, net, and accounts payable line items at December 31, 2017.