Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2025

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
	June 30, 2025
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	190,087	$	—	$	99,213	$	18,934	$	—	$	308,234
U.S. Offshore		31,380		—		1,326		—		—		32,706
Alaska		33,971		—		2,654		4		—		36,629
Canada		—		12,472		455		1,545		—		14,472
Middle East & Asia		—		252,011		34,823		14,798		—		301,632
Latin America		—		89,765		23,661		872		—		114,298
Europe, Africa & CIS		—		30,722		8,151		374		—		39,247
Eliminations & other		—		—		—		—		(14,430)		(14,430)
Total	$	255,438	$	384,970	$	170,283	$	36,527	$	(14,430)	$	832,788

	Six Months Ended
	June 30, 2025
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	378,494	$	—	$	148,372	$	37,791	$	—	$	564,657
U.S. Offshore		55,187		—		4,059		—		—		59,246
Alaska		52,503		—		3,595		4		—		56,102
Canada		—		15,043		1,073		3,407		—		19,523
Middle East & Asia		—		510,426		52,458		35,966		—		598,850
Latin America		—		185,230		43,539		2,275		—		231,044
Europe, Africa & CIS		—		55,989		10,366		1,249		—		67,604
Eliminations & other		—		—		—		—		(28,052)		(28,052)
Total	$	486,184	$	766,688	$	263,462	$	80,692	$	(28,052)	$	1,568,974

	Three Months Ended
	June 30, 2024
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	220,797	$	—	$	47,434	$	22,012	$	—	$	290,243
U.S. Offshore		28,351		—		2,602		—		—		30,953
Alaska		10,575		—		674		—		—		11,249
Canada		—		—		432		1,393		—		1,825
Middle East & Asia		—		249,291		13,086		19,508		—		281,885
Latin America		—		87,975		18,339		4,933		—		111,247
Europe, Africa & CIS		—		19,467		394		1,700		—		21,561
Eliminations & other		—		—		—		—		(14,165)		(14,165)
Total	$	259,723	$	356,733	$	82,961	$	49,546	$	(14,165)	$	734,798

	Six Months Ended
	June 30, 2024
		U.S. Drilling		International Drilling		Drilling Solutions		Rig Technologies		Other		Total
	(In thousands)
Lower 48	$	452,921	$	—	$	92,136	$	46,075	$	—	$	591,132
U.S. Offshore		57,045		—		5,459		—		—		62,504
Alaska		21,746		—		1,355		—		—		23,101
Canada		—		—		866		3,115		—		3,981
Middle East & Asia		—		500,532		24,042		38,679		—		563,253
Latin America		—		172,275		34,054		8,703		—		215,032
Europe, Africa & CIS		—		33,285		623		3,130		—		37,038
Eliminations & other		—		—		—		—		(27,539)		(27,539)
Total	$	531,712	$	706,092	$	158,535	$	99,702	$	(27,539)	$	1,468,502

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, 2024	$	433,562	$	17,510	$	9,742	$	24,002	$	13,424
As of June 30, 2025	$	591,942	$	20,907	$	8,231	$	50,022	$	10,879