Revenue and Customers (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Contract Liabilities

The following table provides information about contract assets and contract liabilities from contracts with customers:

	Successor
	March 31, 2022		December 31, 2021
Current contract assets	$	6,930	$	5,744
Noncurrent contract assets	—		—
Total contract assets	6,930		5,744
Current contract liabilities (deferred revenue)	(29,185)		(18,403)
Noncurrent contract liabilities (deferred revenue)	(9,362)		(9,352)
Total contract liabilities	$	(38,547)	$	(27,755)

Significant changes in the remaining performance obligation contract assets and the contract liabilities balances for the three months ended March 31, 2022, the period from February 6 through March 31, 2021 and the period from January 1 through February 5, 2021 are as follows:

	Contract Assets		Contract Liabilities
Net balance at 12/31/2020 (Predecessor)	$	13,861	$	(59,886)
Amortization of deferred costs	(1,607)		—
Additions to deferred costs	432		—
Amortization of deferred revenue	—		4,142
Additions to deferred revenue	—		(25,479)
Fresh start accounting revaluation	(12,686)		72,936
Total	(13,861)		51,599
Net balance at 2/5/2021 (Predecessor)	$	—	$	(8,287)
Net balance at 2/6/2021 (Successor)	$	—	$	(8,287)
Amortization of deferred costs	888		—
Additions to deferred costs	(42)		—
Amortization of deferred revenue	—		—
Additions to deferred revenue	—		(3,129)
Total	846		(3,129)
Net balance at 3/31/2021 (Successor)	$	846	$	(11,416)
Net balance at 12/31/2021 (Successor)	$	5,744	$	(27,755)
Amortization of deferred costs	(3,866)		—
Additions to deferred costs	5,052		—
Amortization of deferred revenue	—		8,219
Additions to deferred revenue	—		(19,011)
Total	1,186		(10,792)
Net balance at 3/31/2022 (Successor)	$	6,930	$	(38,547)

Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table reflects revenue expected to be recognized in the future related to deferred revenue, by rig type, as of March 31, 2022:    

	For the Years Ended December 31,
	2022		2023		2024		2025		2026 and beyond		Total
Floaters	$	21,591	$	12,615	$	37	$	—	$	—	$	34,243
Jackups	4,304		—		—		—		—		4,304
Total	$	25,895	$	12,615	$	37	$	—	$	—	$	38,547

Schedule of Disaggregation of Revenue by Rig Types

The following table provides information about contract drilling revenue by rig types:

	Successor				Predecessor
			Period From		Period From
			February 6, 2021		January 1, 2021
	Three Months Ended March 31, 2022		through		through
			March 31, 2021		February 5, 2021
Floaters	$	141,213	$	56,048	$	50,057
Jackups	53,822		28,581		23,994
Total	$	195,035	$	84,629	$	74,051