XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating revenues:        
Total operating revenues $ 207,141 $ 598,452 $ 903,448 $ 1,978,388
Operating costs and expenses:        
Depreciation, depletion, amortization and impairment 157,319 400,764 517,201 823,862
Impairment of goodwill   17,800 395,060 17,800
Selling, general and administrative 22,355 34,231 76,692 101,680
Credit loss expense     5,606 3,594
Restructuring expenses     38,338  
Other operating expenses (income), net 776 (252) 5,980 83
Total operating costs and expenses 321,707 905,757 1,671,508 2,357,201
Operating loss (114,566) (307,305) (768,060) (378,813)
Other income (expense):        
Interest income 238 1,693 1,229 4,481
Interest expense, net of amount capitalized (11,288) (20,739) (33,496) (47,021)
Other 512 119 682 328
Total other expense (10,538) (18,927) (31,585) (42,212)
Loss before income taxes (125,104) (326,232) (799,645) (421,025)
Income tax benefit (12,993) (64,513) (102,480) (81,245)
Net loss $ (112,111) $ (261,719) $ (697,165) $ (339,780)
Net loss per common share:        
Basic $ (0.60) $ (1.31) $ (3.70) $ (1.65)
Diluted $ (0.60) $ (1.31) $ (3.70) $ (1.65)
Weighted average number of common shares outstanding:        
Basic 187,280 199,343 188,193 206,191
Diluted 187,280 199,343 188,193 206,191
Cash dividends per common share $ 0.02 $ 0.04 $ 0.08 $ 0.12
Contract Drilling        
Operating revenues:        
Total operating revenues $ 115,054 $ 317,035 $ 553,552 $ 1,037,565
Operating costs and expenses:        
Operating costs and expenses 59,117 188,934 309,664 609,928
Impairment of goodwill     395,060  
Pressure Pumping        
Operating revenues:        
Total operating revenues 71,973 208,637 256,613 707,246
Operating costs and expenses:        
Operating costs and expenses 63,721 176,306 234,844 585,191
Directional Drilling        
Operating revenues:        
Total operating revenues 10,271 47,037 56,498 150,214
Operating costs and expenses:        
Operating costs and expenses 9,754 56,215 54,348 143,919
Other        
Operating revenues:        
Total operating revenues 9,843 25,743 36,785 83,363
Operating costs and expenses:        
Operating costs and expenses $ 8,665 $ 31,759 $ 33,775 $ 71,144