Derivative Instruments and Hedging (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table, together with Note 16, summarizes the financial statement presentation and fair value of our derivative positions as of December 31, 2016 and 2015:

		Estimated fair value
	Balance sheet classification	December 31, 2016	December 31, 2015
Asset derivatives
Non-designated derivatives
FCX Settlement	Prepaid expenses and other current assets	14,400	—

Summarization of Recognized Gains and Losses of Cash Flow Hedges

To supplement the fair value disclosures in Note 16, the following summarizes the recognized gains and losses of cash flow hedges and non-designated derivatives through AOCL or as "contract drilling services" expense for the years ended December 31, 2016 and 2015: 

	Gain/(loss) recognized through AOCL						(Gain)/loss reclassified from AOCL to “contract drilling services” expense				Gain/(loss) recognized through “contract drilling services” expense
	2016			2015			2016		2015		2016		2015
Cash flow hedges
Foreign currency forward contracts	$	(1,187	)	$	(2,414	)	$	1,187	$	2,414	$	—	$	—
Non-designated derivatives
FCX Settlement	$	—		$	—		$	—	$	—	$	14,400	$	—