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Revenue Recognition (Tables) | 12 Months Ended
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Dec. 31, 2024
Revenue Recognition |
Schedule of revenue, disaggregated by geographical region | In the following table, revenue is disaggregated by geographical region. The table also includes a reconciliation of the disaggregated revenue with the reportable segments: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended
​ | December 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | U.S. Drilling | ​ | ​ | International Drilling | ​ | ​ | Drilling Solutions | ​ | ​ | Rig Technologies | ​ | ​ | Other | ​ | ​ | Total
​ | (In thousands)
Lower 48 | $ | 872,432 | ​ | $ | — | ​ | $ | 172,832 | ​ | $ | 83,313 | ​ | $ | — | ​ | $ | 1,128,577
U.S. Offshore Gulf of Mexico |  | 107,253 | ​ |  | — | ​ |  | 9,943 | ​ |  | — | ​ |  | — | ​ | ​ | 117,196
Alaska |  | 48,437 | ​ |  | — | ​ |  | 2,447 | ​ |  | — | ​ |  | — | ​ | ​ | 50,884
Canada |  | — | ​ |  | — | ​ |  | 1,847 | ​ |  | 6,331 | ​ |  | — | ​ | ​ | 8,178
Middle East & Asia |  | — | ​ |  | 1,002,350 | ​ |  | 51,222 | ​ |  | 91,344 | ​ |  | — | ​ | ​ | 1,144,916
Latin America |  | — | ​ |  | 360,092 | ​ |  | 74,225 | ​ |  | 14,310 | ​ |  | — | ​ | ​ | 448,627
Europe, Africa & CIS |  | — | ​ |  | 83,650 | ​ |  | 1,555 | ​ |  | 6,379 | ​ |  | — | ​ | ​ | 91,584
Eliminations & other |  | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (59,836) | ​ |  | (59,836)
Total | $ | 1,028,122 | ​ | $ | 1,446,092 | ​ | $ | 314,071 | ​ | $ | 201,677 | ​ | $ | (59,836) | ​ | $ | 2,930,126
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended
​ | December 31, 2023
​ | ​ | U.S. Drilling | ​ | ​ | International Drilling | ​ | ​ | Drilling Solutions | ​ | ​ | Rig Technologies | ​ | ​ | Other | ​ | ​ | Total
​ | (In thousands)
Lower 48 | $ | 1,052,274 | ​ | $ | — | ​ | $ | 196,252 | ​ | $ | 121,958 | ​ | $ | — | ​ | $ | 1,370,484
U.S. Offshore Gulf of Mexico |  | 118,218 | ​ |  | — | ​ |  | 11,147 | ​ |  | — | ​ |  | — | ​ | ​ | 129,365
Alaska |  | 37,137 | ​ |  | — | ​ |  | 1,733 | ​ |  | — | ​ |  | — | ​ | ​ | 38,870
Canada |  | — | ​ |  | — | ​ |  | 1,522 | ​ |  | 7,270 | ​ |  | — | ​ | ​ | 8,792
Middle East & Asia |  | — | ​ |  | 943,285 | ​ |  | 44,896 | ​ |  | 93,032 | ​ |  | — | ​ | ​ | 1,081,213
Latin America |  | — | ​ |  | 341,470 | ​ |  | 44,422 | ​ |  | 11,162 | ​ |  | — | ​ | ​ | 397,054
Europe, Africa & CIS |  | — | ​ |  | 60,494 | ​ |  | 1,785 | ​ |  | 9,346 | ​ |  | — | ​ | ​ | 71,625
Eliminations & other |  | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (91,422) | ​ |  | (91,422)
Total | $ | 1,207,629 | ​ | $ | 1,345,249 | ​ | $ | 301,757 | ​ | $ | 242,768 | ​ | $ | (91,422) | ​ | $ | 3,005,981
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year Ended
​ | December 31, 2022
​ | ​ | U.S. Drilling | ​ | ​ | International Drilling | ​ | ​ | Drilling Solutions | ​ | ​ | Rig Technologies | ​ | ​ | Other | ​ | ​ | Total
​ | (In thousands)
Lower 48 | $ | 913,932 | ​ | $ | — | ​ | $ | 157,709 | ​ | $ | 111,197 | ​ | $ | — | ​ | $ | 1,182,838
U.S. Offshore Gulf of Mexico |  | 122,536 | ​ |  | — | ​ |  | 10,665 | ​ |  | — | ​ |  | — | ​ | ​ | 133,201
Alaska |  | 64,146 | ​ |  | — | ​ |  | 1,734 | ​ |  | — | ​ |  | — | ​ | ​ | 65,880
Canada |  | — | ​ |  | — | ​ |  | 1,521 | ​ |  | 5,726 | ​ |  | — | ​ | ​ | 7,247
Middle East & Asia |  | — | ​ |  | 805,944 | ​ |  | 41,257 | ​ |  | 64,739 | ​ |  | — | ​ | ​ | 911,940
Latin America |  | — | ​ |  | 309,320 | ​ |  | 29,515 | ​ |  | 1,503 | ​ |  | — | ​ | ​ | 340,338
Europe, Africa & CIS |  | — | ​ |  | 84,018 | ​ |  | 948 | ​ |  | 11,964 | ​ |  | — | ​ | ​ | 96,930
Eliminations & other |  | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (84,608) | ​ |  | (84,608)
Total | $ | 1,100,614 | ​ | $ | 1,199,282 | ​ | $ | 243,349 | ​ | $ | 195,129 | ​ | $ | (84,608) | ​ | $ | 2,653,766
​
Summary of receivables, contract assets, current and long-term contract liabilities | The opening and closing balances of our receivables, contract assets and current and long-term contract liabilities are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Contract | ​ | Contract | ​ | Contract | ​ | Contract
​ | ​ | Contract | ​ | Assets | ​ | Assets | ​ | Liabilities | ​ | Liabilities
​ |  | Receivables |  | (Current) |  | (Long-term) |  | (Current) |  | (Long-term)
​ | ​ | (In thousands)
As of December 31, 2023 | ​ | $ | 397,051 | ​ | $ | 8,434 | ​ | $ | 2,980 | ​ | $ | 20,295 | ​ | $ | 1,969
As of December 31, 2024 | ​ | $ | 433,562 | ​ | $ | 17,510 | ​ | $ | 9,742 | ​ | $ | 24,002 | ​ | $ | 13,424
​

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