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PROPERTY, PLANT AND EQUIPMENT (Tables)

9 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment as of June 30, 2023 and September 30, 2022 consisted of the following:

(in thousands)			Estimated Useful Lives						June 30, 2023						September 30, 2022
Drilling services equipment			4 - 15 years						$	6,382,505					$	6,369,888
Tubulars			4 years						571,490						569,496
Real estate properties			10 - 45 years						47,045						45,557
Other			2 - 23 years						438,908						422,479
Construction in progress1									92,829						70,119
									7,532,777						7,477,539
Accumulated depreciation									(4,600,184)						(4,516,730)
Property, plant and equipment, net									$	2,932,593					$	2,960,809
Assets held-for-sale									$	988					$	4,333

(1)Included in construction in progress are costs for projects in progress to upgrade or refurbish certain rigs in our existing fleet. Additionally, we include other advances for capital maintenance purchase-orders that are open/in process. As these various projects are completed, the costs are then classified to their appropriate useful life category.

Schedule of Assets Held-for-Sale

The following is a summary of the changes in the balance (in thousands) of our assets held-for-sale for the period indicated below:

Balance at September 30, 2022			$	4,333
Plus:
Asset additions			1,177
Less:
Sale of assets held-for-sale			(1,789)
Impairment expense			(2,733)
Balance at June 30, 2023			$	988

X

- Definition

Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-3

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- References

No definition available.

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X

- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-1

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