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Business Segments (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Business Segments - Financial Information

The following tables summarize selected financial information relating to our business segments (in thousands):

	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2021				2020				2021				2020
Revenues:
Contract drilling	$	158,154			$	115,105			$	434,080			$	554,421
Pressure pumping		152,634				71,973				340,464				256,613
Directional drilling		31,728				10,271				76,267				56,498
Other operations (1)		20,744				11,756				53,561				46,061
Elimination of intercompany revenues - Contract drilling (2)		(229	)			(51	)			(922	)			(869	)
Elimination of intercompany revenues - Other operations (2)		(5,146	)			(1,913	)			(12,862	)			(9,276	)
Total revenues	$	357,885			$	207,141			$	890,588			$	903,448
Income (loss) before income taxes:
Contract drilling	$	(51,830	)		$	(47,214	)		$	(158,680	)		$	(481,974	)
Pressure pumping		(13,774	)			(30,856	)			(77,434	)			(134,896	)
Directional drilling		(4,581	)			(9,912	)			(14,614	)			(34,892	)
Other operations		(1,335	)			(6,421	)			(9,178	)			(35,547	)
Corporate		(18,489	)			(20,163	)			(57,040	)			(75,145	)
Credit loss expense		—				—				—				(5,606	)
Interest income		37				238				196				1,229
Interest expense		(10,683	)			(11,288	)			(31,396	)			(33,496	)
Other		14				512				840				682
Loss before income taxes	$	(100,641	)		$	(125,104	)		$	(347,306	)		$	(799,645	)
Depreciation, depletion, amortization and impairment:
Contract drilling	$	97,160			$	102,275			$	297,426			$	328,843
Pressure pumping		29,838				37,104				98,963				118,586
Directional drilling		6,772				9,600				19,863				29,698
Other operations		5,866				6,852				17,309				35,087
Corporate		1,429				1,488				4,423				4,987
Total depreciation, depletion, amortization and impairment	$	141,065			$	157,319			$	437,984			$	517,201
Capital expenditures:
Contract drilling	$	21,239			$	9,502			$	56,708			$	101,448
Pressure pumping		6,468				1,653				19,457				17,880
Directional drilling		3,290				510				4,613				4,562
Other operations		2,833				1,704				9,006				9,776
Corporate		434				73				1,053				1,377
Total capital expenditures	$	34,264			$	13,442			$	90,837			$	135,043

	September 30, 2021				December 31, 2020
Identifiable assets:
Contract drilling	$	2,099,859			$	2,315,318
Pressure pumping		474,013				486,702
Directional drilling		105,368				107,807
Other operations		85,713				88,676
Corporate (3)		252,510				300,566
Total assets	$	3,017,463			$	3,299,069

(1)Other operations includes our oilfield rentals business, drilling equipment service business, the electrical controls and automation business and the oil and natural gas working interests.

(2)Intercompany revenues consist of revenues from contract drilling for services provided to our other operations, and revenues from other operations for services provided to contract drilling, pressure pumping and within other operations. These revenues are generally based on estimated external selling prices and are eliminated during consolidation.

(3)Corporate assets primarily include cash on hand and certain property and equipment.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

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- References

No definition available.

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