XML 17 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Operating revenues:        
Total operating revenues $ 854,418 $ 579,186 $ 1,663,582 $ 884,361
Operating costs and expenses:        
Depreciation, depletion, amortization and impairment 212,384 219,328 422,276 375,545
Selling, general and administrative 35,663 23,478 68,480 42,330
Merger and integration expenses 747 51,193 2,738 56,349
Other operating income, net [1] (7,129) (1,806) (9,550) (14,710)
Total operating costs and expenses 863,422 719,422 1,694,688 1,117,236
Operating loss (9,004) (140,236) (31,106) (232,875)
Other income (expense):        
Interest income 2,360 642 3,783 1,048
Interest expense, net of amount capitalized (12,667) (9,075) (26,292) (17,345)
Other 216 131 385 148
Total other expense (10,091) (8,302) (22,124) (16,149)
Loss before income taxes (19,095) (148,538) (53,230) (249,024)
Income tax benefit (8,382) (56,354) (8,100) (93,301)
Net loss $ (10,713) $ (92,184) $ (45,130) $ (155,723)
Net loss per common share:        
Basic $ (0.05) $ (0.46) $ (0.21) $ (0.86)
Diluted $ (0.05) $ (0.46) $ (0.21) $ (0.86)
Weighted average number of common shares outstanding:        
Basic 220,093 201,204 220,436 180,747
Diluted 220,093 201,204 220,436 180,747
Cash dividends per common share $ 0.04 $ 0.02 $ 0.06 $ 0.04
Contract Drilling        
Operating revenues:        
Total operating revenues $ 349,922 $ 270,111 $ 677,725 $ 428,839
Operating costs and expenses:        
Operating costs and expenses 217,674 180,658 430,257 288,879
Pressure Pumping        
Operating revenues:        
Total operating revenues 425,303 290,044 832,087 431,218
Operating costs and expenses:        
Operating costs and expenses 342,885 233,900 663,855 352,913
Directional Drilling        
Operating revenues:        
Total operating revenues 52,705   101,321  
Operating costs and expenses:        
Operating costs and expenses 43,685   81,374  
Other        
Operating revenues:        
Total operating revenues 26,488 19,031 52,449 24,304
Operating costs and expenses:        
Operating costs and expenses $ 17,513 $ 12,671 $ 35,258 $ 15,930
[1] Other operating income, net includes net gains associated with the disposal of assets related to corporate strategy decisions of the executive management group. Accordingly, the related gains have been excluded from the operating results of specific segments. This caption also includes certain legal-related expenses and settlements, net of insurance reimbursements.