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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Compensation Cost for Stock-Based Payment Arrangements | A summary of compensation cost for stock-based payment arrangements recognized in Drilling services operating expense, Research and development expense, Selling, general and administrative expense, and Restructuring charges on our Consolidated Statements of Operations is as follows:
| September 30,
(in thousands) | 2025 |  | 2024 |  | 2023
Stock-based compensation expense |  |  |  |  |
Drilling services operating | $ | 6,555 |  |  | $ | 5,904 |  |  | $ | 5,919 |
Research and development | 1,816 |  |  | 2,033 |  |  | 1,905 |
Selling, general and administrative | 22,497 |  |  | 23,261 |  |  | 24,632 |
Restructuring charges | 726 |  |  | — |  |  | — |
| $ | 31,594 |  |  | $ | 31,198 |  |  | $ | 32,456 |
Schedule of the Status of Restricted Stock Awards and Changes in Restricted Stock Outstanding | A summary of the status of our restricted stock awards as of September 30, 2025, and of changes in restricted stock outstanding during the fiscal years ended September 30, 2025, 2024 and 2023, is as follows:
| 2025 |  | 2024 |  | 2023
(shares in thousands) | Shares 1 |  | Weighted-Average Grant Date Fair Value per Share |  | Shares 1 |  | Weighted-Average Grant Date Fair Value per Share |  | Shares 1 |  | Weighted-Average Grant Date Fair Value per Share
Non-vested restricted stock outstanding as of the beginning of period | 1,361 |  |  | $ | 36.14 |  |  | 1,362 |  |  | $ | 35.11 |  |  | 1,493 |  |  | $ | 30.85 |
Granted | 882 |  |  | 32.96 |  |  | 795 |  |  | 35.44 |  |  | 592 |  |  | 44.48 |
Vested 2 | (739) |  |  | 34.82 |  |  | (777) |  |  | 33.60 |  |  | (708) |  |  | 33.95 |
Forfeited | (107) |  |  | 36.00 |  |  | (19) |  |  | 36.54 |  |  | (15) |  |  | 36.25 |
Non-vested restricted stock outstanding at September 30, | 1,397 |  |  | $ | 34.84 |  |  | 1,361 |  |  | $ | 36.14 |  |  | 1,362 |  |  | $ | 35.11 |
(1)Restricted stock shares include restricted phantom stock units under our Director Deferred Compensation Plan. These phantom stock units confer the economic benefits of owning company stock without the actual ownership, transfer or issuance of any shares. Phantom stock units are subject to a vesting period of one year from the grant date. During the fiscal years ended September 30, 2025, 2024, and 2023, 21,531, 18,700, and 12,591 restricted phantom stock units were granted, respectively, and 18,700, 12,591 and 14,199 restricted phantom stock units vested, respectively. (2)The number of restricted stock awards vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements. A summary of the status of our performance units and changes in non-vested performance units outstanding is presented below:
| 2025 |  | 2024 |  | 2023
(in thousands, except per share amounts) | Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Shares |  | Weighted-Average Grant Date Fair Value per Share
Non-vested performance units outstanding as of the beginning of period | 603 |  |  | $ | 38.90 |  |  | 796 |  |  | $ | 34.51 |  |  | 726 |  |  | $ | 33.67 |
Granted | 255 |  |  | 39.15 |  |  | 223 |  |  | 39.86 |  |  | 144 |  |  | 54.30 |
Vested 1 | (290) |  |  | 30.12 |  |  | (303) |  |  | 29.77 |  |  | (286) |  |  | 43.40 |
Dividend equivalent rights credited and performance factor adjustment 2 | 67 |  |  | 31.89 |  |  | (106) |  |  | 34.09 |  |  | 212 |  |  | 35.94 |
Forfeited | (58) |  |  | 43.26 |  |  | (7) |  |  | 38.67 |  |  | — |  |  | — |
Non-vested performance units outstanding September 30,3 | 577 |  |  | $ | 41.51 |  |  | 603 |  |  | $ | 38.90 |  |  | $ | 796 |  |  | $ | 34.51 |
(1)The number of performance units vested includes units that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements. (2)At the end of the Vesting Period, recipients receive dividend equivalents, if any, with respect to the number of vested performance units. The vesting of units ranges from zero to 200 percent of the units granted depending on the Company's TSR relative to the TSR of the Peer Group on the vesting date. (3)Of the total non-vested performance units at the end of the period, specified performance criteria has been achieved with respect to 57,043 performance units which is calculated based on the payout percentage for the completed performance period. The vesting and number of the remainder of non-vested performance units reflected at the end of the period is contingent upon our achievement of specified target performance criteria. If we meet the specified maximum performance criteria, approximately 35,831 additional performance units could vest or become eligible to vest.
Schedule of Weighted-Average Assumptions Used in Calculation of Fair Value of Awards | The weighted-average fair value calculations for performance units granted within the fiscal period are based on the following weighted-average assumptions set forth in the table below.
| 2025 |  | 2024 |  | 2023
Risk-free interest rate 1 | 4.1 | % |  | 4.3 | % |  | 4.1 | %
Expected stock volatility 2 | 47.8 | % |  | 52.5 | % |  | 71.6 | %
Expected term (in years) | 3 |  | 3 |  | 3
(1)The risk-free interest rate is based on U.S. Treasury securities for the expected term of the performance units. (2)Expected volatilities are based on the daily closing price of our stock based upon historical experience over a period which approximates the expected term of the performance units.

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