Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2026

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:

	Three Months Ended
	March 31, 2026
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	191,963	$	—	$	35,662	$	15,172	$	—	$	242,797
U.S. Offshore		20,928		—		1,703		—		—		22,631
Alaska		28,253		—		2,282		—		—		30,535
Canada		—		17,639		573		1,437		—		19,649
Middle East & Asia		—		274,448		32,475		9,539		—		316,462
Latin America		—		100,557		24,250		928		—		125,735
Europe, Africa & CIS		—		26,852		9,277		146		—		36,275
Eliminations & other		—		—		—		—		(10,536)		(10,536)
Total	$	241,144	$	419,496	$	106,222	$	27,222	$	(10,536)	$	783,548

	Three Months Ended
	March 31, 2025
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	188,407	$	—	$	49,157	$	18,856	$	—	$	256,420
U.S. Offshore		23,807		—		2,733		—		—		26,540
Alaska		18,532		—		942		—		—		19,474
Canada		—		2,570		617		1,862		—		5,049
Middle East & Asia		—		258,418		17,634		21,170		—		297,222
Latin America		—		95,464		19,879		1,402		—		116,745
Europe, Africa & CIS		—		25,266		2,217		875		—		28,358
Eliminations & other		—		—		—		—		(13,622)		(13,622)
Total	$	230,746	$	381,718	$	93,179	$	44,165	$	(13,622)	$	736,186

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, 2025	$	446,310	$	19,335	$	12,053	$	41,927	$	28,646
As of March 31, 2026	$	470,530	$	25,926	$	12,173	$	45,526	$	30,804