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Subsequent Event | 6 Months Ended
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Jun. 30, 2023
Subsequent Events [Abstract] |
Subsequent Event | 16. Subsequent Event On July 3, 2023, we and certain subsidiaries of ours entered into a merger agreement (the “Ulterra Merger Agreement”) to acquire Ulterra Drilling Technologies, L.P. (“Ulterra”), pursuant to which, upon the terms and subject to the conditions set forth therein, we will acquire Ulterra on a debt-free basis for aggregate consideration of 34.9 million shares of our common stock and $370 million of cash, subject to customary purchase price adjustments. Ulterra is a global provider of specialized drill bit solutions. The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions and receipt of required regulatory approvals, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Act.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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