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Business Combination - Schedule of Total Purchase Price of Assets Acquired and Liabilities Assumed Based on Fair Value (Details) - USD ($) $ in Thousands | Sep. 01, 2023 | Aug. 14, 2023 | Sep. 30, 2023 | Dec. 31, 2022
--- | --- | --- | --- | ---
Liabilities assumed: |  |  |  |  |
Goodwill |  |  |  | $ 1,372,997 | $ 0
Ulterra Drilling Technologies, L.P. [Member] |  |  |  |  |
Assets acquired: |  |  |  |  |
Cash and cash equivalents |  |  | $ 18,426 |  |
Accounts receivable |  |  | 68,467 |  |
Inventory | [1] |  | 36,313 |  |
Rental equipment | [2] |  | 109,055 |  |
Property and equipment |  |  | 27,583 |  |
Intangible assets |  |  | 313,000 | 313,000 |
Operating lease right of use asset |  |  | 7,513 |  |
Finance lease right of use asset |  |  | 5,228 |  |
Other assets |  |  | 14,274 |  |
Total assets acquired |  |  | 599,859 |  |
Liabilities assumed: |  |  |  |  |
Accounts payable |  |  | 23,258 |  |
Accrued liabilities |  |  | 26,475 |  |
Operating lease liability |  |  | 7,513 |  |
Finance lease liability |  |  | 5,228 |  |
Deferred tax liabilities |  |  | 82,851 |  |
Total liabilities assumed |  |  | 145,325 |  |
Less: noncontrolling interest |  |  | (8,729) |  |
Net assets acquired |  |  | 445,805 |  |
Goodwill |  |  | 451,341 | 451,300 |
Total consideration transferred |  |  | $ 897,146 |  |
NexTier Oilfield Solutions Inc. [Member] |  |  |  |  |
Assets acquired: |  |  |  |  |
Cash and cash equivalents |  | $ 95,815 |  |  |
Accounts receivable |  | 420,200 |  |  |
Inventory |  | 71,930 |  |  |
Property and equipment | [3] | 1,045,610 |  |  |
Intangible assets |  | 768,000 |  | 768,000 |
Operating lease right of use asset |  | 19,091 |  |  |
Finance lease right of use asset |  | 50,733 |  |  |
Other assets |  | 84,677 |  |  |
Total assets acquired |  | 2,556,056 |  |  |
Liabilities assumed: |  |  |  |  |
Accounts payable |  | 358,873 |  |  |
Accrued liabilities |  | 130,597 |  |  |
Operating lease liability |  | 19,091 |  |  |
Finance lease liability |  | 50,733 |  |  |
Deferred tax liabilities |  | 82,785 |  |  |
Long-term debt |  | 22,533 |  |  |
Other liabilities |  | 11,815 |  |  |
Total liabilities assumed |  | 676,427 |  |  |
Net assets acquired |  | 1,879,629 |  |  |
Goodwill |  | 921,656 |  | $ 921,700 |
Total consideration transferred |  | $ 2,801,285 |  |  |
[1] | We recorded an adjustment of $5.5 million to write-up acquired drill bits classified as inventory to estimated fair value. This adjustment will be recorded as direct operating expense as acquired drill bits are sold
[2] | We recorded an adjustment of $74.4 million to write-up acquired drill bits classified as long-lived assets to estimated fair value. This adjustment will be depreciated as acquired drill bits are rented over a weighted-average estimated useful life of 7.5 runs.
[3] | We recorded an adjustment of $262.7 million to write-up acquired property and equipment to estimated fair value. This adjustment will be depreciated on a straight-line basis over a weighted average period of six years.

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