XML 86 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating revenues:    
Total operating revenues $ 445,927 $ 704,171
Operating costs and expenses:    
Depreciation, depletion, amortization and impairment 186,797 214,410
Impairment of goodwill 395,060  
Selling, general and administrative 30,346 32,555
Credit loss expense 1,055  
Other operating expenses (income), net [1] 451 (8,736)
Total operating costs and expenses 940,337 727,554
Operating loss (494,410) (23,383)
Other income (expense):    
Interest income 657 1,032
Interest expense, net of amount capitalized (11,224) (12,984)
Other 85 117
Total other expense (10,482) (11,835)
Loss before income taxes (504,892) (35,218)
Income tax benefit (70,170) (6,604)
Net loss $ (434,722) $ (28,614)
Net loss per common share:    
Basic $ (2.28) $ (0.14)
Diluted $ (2.28) $ (0.14)
Weighted average number of common shares outstanding:    
Basic 190,674 211,868
Diluted 190,674 211,868
Cash dividends per common share $ 0.04 $ 0.04
Contract Drilling    
Operating revenues:    
Total operating revenues $ 267,364 $ 372,392
Operating costs and expenses:    
Operating costs and expenses 163,420 219,202
Impairment of goodwill 395,060  
Pressure Pumping    
Operating revenues:    
Total operating revenues 125,107 247,601
Operating costs and expenses:    
Operating costs and expenses 114,855 202,748
Directional Drilling    
Operating revenues:    
Total operating revenues 34,485 52,959
Operating costs and expenses:    
Operating costs and expenses 32,329 45,602
Other    
Operating revenues:    
Total operating revenues 18,971 31,219
Operating costs and expenses:    
Operating costs and expenses $ 16,024 $ 21,773
[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.