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REVENUE FROM CONTRACTS WITH CUSTOMERS | 3 Months Ended
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Dec. 31, 2019
Revenue from Contract with Customer [Abstract] |
REVENUE FROM CONTRACTS WITH CUSTOMERS | NOTE 11 REVENUE FROM CONTRACTS WITH CUSTOMERS Contract Drilling Services Revenue During the three months ended December 31, 2019 and 2018, early termination revenue was approximately $0.1 million and $7.1 million, respectively. Contract Costs We had capitalized fulfillment costs of $14.3 million as of December 31, 2019 and $13.9 million as of September 30, 2019. Remaining Performance Obligations The total aggregate transaction price allocated to the unsatisfied performance obligations, commonly referred to as backlog, as of December 31, 2019 was approximately $1.1 billion, of which approximately $0.7 billion is expected to be recognized during the remainder of fiscal year 2020, approximately $0.3 billion during fiscal year 2021, and approximately $0.1 billion in fiscal year 2022 and thereafter. These amounts do not include anticipated contract renewals. Additionally, contracts that currently contain month-to-month terms are represented in our backlog as one month of unsatisfied performance obligations. Our contracts are subject to cancellation or modification at the election of the customer; however, due to the level of capital deployed by our customers on underlying projects, we have not been materially adversely affected by contract cancellations or modifications in the past. We do not have material long-term contracts related to our H&P Technologies segment. Contract Assets and Liabilities The following table summarizes the balances of our contract assets and liabilities at the dates indicated:
(in thousands) | December 31, 2019 |  | September 30, 2019
Contract assets | $ | 3,024 |  |  | $ | 2,151 |
(in thousands) | December 31, 2019
Contract liabilities balance at September 30, 2019 | $ | 23,354 |
Payment received/accrued and deferred | 11,098 |
Revenue recognized during the period | (9,340 | )
Contract liabilities balance at December 31, 2019 | $ | 25,112 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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