XML 45 R36.htm IDEA: XBRL DOCUMENT v3.22.2.2

Business Segments (Tables)

9 Months Ended

Sep. 30, 2022

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,
	2022				2021				2022				2021
Revenues:
Contract drilling	$	359,306			$	158,154			$	926,607			$	434,080
Pressure pumping		287,664				152,634				715,630				340,464
Directional drilling		58,871				31,728				157,030				76,267
Other operations (1)		32,078				20,744				86,337				53,561
Elimination of intercompany revenues - Contract drilling (2)		(3,262	)			(229	)			(9,337	)			(922	)
Elimination of intercompany revenues - Other operations (2)		(7,154	)			(5,146	)			(17,151	)			(12,862	)
Total revenues	$	727,503			$	357,885			$	1,859,116			$	890,588
Income (loss) before income taxes:
Contract drilling	$	43,433			$	(51,830	)		$	61,989			$	(158,680	)
Pressure pumping		48,949				(13,774	)			75,461				(77,434	)
Directional drilling		4,450				(4,581	)			10,266				(14,614	)
Other operations		2,630				(1,335	)			6,671				(9,178	)
Corporate		(23,117	)			(18,489	)			(60,161	)			(57,040	)
Interest income		58				37				87				196
Interest expense		(10,975	)			(10,683	)			(32,198	)			(31,396	)
Other		(1,774	)			14				(2,644	)			840
Income (loss) before income taxes	$	63,654			$	(100,641	)		$	59,471			$	(347,306	)
Depreciation, depletion, amortization and impairment:
Contract drilling	$	83,851			$	97,160			$	250,779			$	297,426
Pressure pumping		24,746				29,838				73,244				98,963
Directional drilling		4,056				6,772				11,259				19,863
Other operations		8,212				5,866				21,412				17,309
Corporate		1,285				1,429				3,947				4,423
Total depreciation, depletion, amortization and impairment	$	122,150			$	141,065			$	360,641			$	437,984
Capital expenditures:
Contract drilling	$	67,564			$	21,239			$	169,439			$	56,708
Pressure pumping		46,653				6,468				114,669				19,457
Directional drilling		5,110				3,290				12,112				4,613
Other operations		6,466				2,833				19,857				9,006
Corporate		562				434				1,476				1,053
Total capital expenditures	$	126,355			$	34,264			$	317,553			$	90,837

	September 30, 2022				December 31, 2021
Identifiable assets:
Contract drilling	$	2,199,904			$	2,169,501
Pressure pumping		529,088				458,202
Directional drilling		116,963				87,285
Other operations		99,104				85,932
Corporate (3)		96,940				156,928
Total assets	$	3,041,999			$	2,957,848

(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.

X

- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration