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Business Segments | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Business Segments | 17. Business Segments At December 31, 2021, we had three reportable business segments: (i) contract drilling of oil and natural gas wells, (ii) pressure pumping services and (iii) directional drilling services. Each of these segments represents a distinct type of business and has a separate management team that reports to our chief operating decision maker. The results of operations in these segments are regularly reviewed by the chief operating decision maker for purposes of determining resource allocation and assessing performance. We also disclose our identifiable assets for these segments, which are primarily comprised of long-lived assets. Contract Drilling — We market our contract drilling services to major and independent oil and natural gas operators. As of December 31, 2021, we had 184 marketed land-based drilling rigs in the continental United States and eight in Colombia. Our acquisition of Pioneer in 2021 expanded our geographic footprint into Latin America with the addition of eight SCR drilling rigs in Colombia. Our revenues and direct operating costs for our Colombian operations are included as part of our contract drilling segment. For the year ended December 31, 2021, contract drilling revenue earned in Colombia was $15.8 million. Additionally, long-lived assets for the contract drilling segment recorded as part of our Colombian operations totaled $39.3 million as of December 31, 2021. Pressure Pumping — We provide pressure pumping services to oil and natural gas operators primarily in Texas and the Appalachian region. Substantially all of the revenue in the pressure pumping segment is from well stimulation services (such as hydraulic fracturing) for the completion of new wells and remedial work on existing wells. Well stimulation involves processes inside a well designed to enhance the flow of oil, natural gas, or other desired substances from the well. We also provide cementing services through our pressure pumping segment. Cementing is the process of inserting material between the wall of the well bore and the casing to support and stabilize the casing. Directional Drilling — We provide a comprehensive suite of directional drilling services in most major producing onshore oil and gas basins in the United States. Substantially all of the revenue in the directional drilling segment is from directional drilling, downhole performance motors and measurement-while-drilling services, which are sold as a bundle. Major Customer — During 2021, one customer accounted for approximately $216 million or 16% of our consolidated operating revenues. These revenues in 2021 were earned in both our contract drilling and pressure pumping businesses. During 2020 and 2019 no single customer accounted for more than 10% of our consolidated operating revenues. The following tables summarize selected financial information relating to our business segments (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Revenues: |  |  |  |  |  |  |  |  |
Contract drilling |  | $ | 667,918 |  |  | $ | 670,357 |  |  | $ | 1,309,988 |
Pressure pumping |  |  | 523,756 |  |  |  | 336,111 |  |  |  | 868,694 |
Directional drilling |  |  | 111,481 |  |  |  | 73,356 |  |  |  | 188,786 |
Other operations (1) |  |  | 75,505 |  |  |  | 57,962 |  |  |  | 122,885 |
Elimination of intercompany revenues - Contract drilling (2) |  |  | (3,888 | ) |  |  | (1,231 | ) |  |  | (1,638 | )
Elimination of intercompany revenues - Other operations (2) |  |  | (17,691 | ) |  |  | (12,306 | ) |  |  | (18,030 | )
Total revenues |  | $ | 1,357,081 |  |  | $ | 1,124,249 |  |  | $ | 2,470,685 |
Income (loss) before income taxes: |  |  |  |  |  |  |  |  |
Contract drilling |  | $ | (423,029 | ) |  | $ | (543,438 | ) |  | $ | (151,329 | )
Pressure pumping |  |  | (118,863 | ) |  |  | (166,666 | ) |  |  | (102,701 | )
Directional drilling |  |  | (35,301 | ) |  |  | (40,612 | ) |  |  | (52,724 | )
Other operations |  |  | (9,905 | ) |  |  | (41,685 | ) |  |  | (54,725 | )
Corporate |  |  | (92,152 | ) |  |  | (94,251 | ) |  |  | (94,414 | )
Credit loss expense |  |  | 1,500 |  |  |  | (5,606 | ) |  |  | (5,683 | )
Interest income |  |  | 222 |  |  |  | 1,254 |  |  |  | 6,013 |
Interest expense |  |  | (41,978 | ) |  |  | (40,770 | ) |  |  | (75,204 | )
Other |  |  | (275 | ) |  |  | 756 |  |  |  | 389 |
Loss before income taxes |  | $ | (719,781 | ) |  | $ | (931,018 | ) |  | $ | (530,378 | )
Depreciation, depletion, amortization and impairment: |  |  |  |  |  |  |  |  |
Contract drilling |  | $ | 618,879 |  |  | $ | 433,771 |  |  | $ | 668,007 |
Pressure pumping |  |  | 159,305 |  |  |  | 152,630 |  |  |  | 233,952 |
Directional drilling |  |  | 40,270 |  |  |  | 36,504 |  |  |  | 52,223 |
Other operations |  |  | 24,865 |  |  |  | 41,511 |  |  |  | 42,803 |
Corporate |  |  | 5,859 |  |  |  | 6,494 |  |  |  | 6,888 |
Total depreciation, depletion, amortization and impairment |  | $ | 849,178 |  |  | $ | 670,910 |  |  | $ | 1,003,873 |
Capital expenditures: |  |  |  |  |  |  |  |  |
Contract drilling |  | $ | 109,894 |  |  | $ | 105,037 |  |  | $ | 194,416 |
Pressure pumping |  |  | 34,676 |  |  |  | 21,678 |  |  |  | 105,803 |
Directional drilling |  |  | 8,591 |  |  |  | 4,681 |  |  |  | 15,549 |
Other operations |  |  | 11,638 |  |  |  | 12,378 |  |  |  | 27,132 |
Corporate |  |  | 1,521 |  |  |  | 1,707 |  |  |  | 4,612 |
Total capital expenditures |  | $ | 166,320 |  |  | $ | 145,481 |  |  | $ | 347,512 |
Identifiable assets: |  |  |  |  |  |  |  |  |
Contract drilling |  | $ | 2,169,501 |  |  | $ | 2,315,318 |  |  | $ | 3,190,463 |
Pressure pumping |  |  | 458,202 |  |  |  | 486,702 |  |  |  | 695,570 |
Directional drilling |  |  | 87,285 |  |  |  | 107,807 |  |  |  | 164,273 |
Other operations |  |  | 85,932 |  |  |  | 88,676 |  |  |  | 128,290 |
Corporate (3) |  |  | 156,928 |  |  |  | 300,566 |  |  |  | 261,019 |
Total assets |  | $ | 2,957,848 |  |  | $ | 3,299,069 |  |  | $ | 4,439,615 |
(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 The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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