Business Segment and Significant Customer Information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

Our segment results were as follows:

	Three Months Ended March 31, 2022
	Drilling Services		Managed Services		Unallocated			Consolidated
(unaudited, in thousands)
Revenue
Contract drilling services	$	44,913	$	—	$	—		$	44,913
Management fees		—		1,103		—			1,103
Reimbursables and other		5,183		7,132		—			12,315
Total revenue		50,096		8,235		—			58,331
Operating costs and expenses
Operating costs		36,438		7,495		—			43,933
General and administrative		—		—		6,582			6,582
Depreciation		10,856		—		439			11,295
Total operating costs and expenses		47,294		7,495		7,021			61,810
Income (loss) from operations		2,802		740		(7,021	)		(3,479	)
Other (expense) income
Interest income		—		—		4			4
Interest expense and financing charges		—		—		(8,504	)		(8,504	)
Other, net		—		—		(775	)		(775	)
Total other expense		—		—		(9,275	)		(9,275	)
Income (loss) before income taxes	$	2,802	$	740	$	(16,296	)	$	(12,754	)
Reconciliation of income from operations to segment adjusted operating income:	Drilling Services		Managed Services
Income from operations	$	2,802	$	740
Depreciation		10,856		—
Segment adjusted operating income	$	13,658	$	740

	Three Months Ended March 31, 2021
	Drilling Services			Managed Services		Unallocated			Consolidated
(unaudited, in thousands)
Revenue
Contract drilling services	$	17,725		$	—	$	—		$	17,725
Management fees		—			98		—			98
Reimbursables and other		2,343			—		—			2,343
Total revenue		20,068			98		—			20,166
Operating costs and expenses
Operating costs		25,357			—		—			25,357
General and administrative		—			—		5,495			5,495
Depreciation		13,715			—		410			14,125
Total operating costs and expenses		39,072			—		5,905			44,977
(Loss) income from operations		(19,004	)		98		(5,905	)		(24,811	)
Other (expense) income
Interest income		—			—		100			100
Interest expense and financing charges		—			—		(8,510	)		(8,510	)
Other, net		—			—		(614	)		(614	)
Total other expense		—			—		(9,024	)		(9,024	)
(Loss) income before income taxes	$	(19,004	)	$	98	$	(14,929	)	$	(33,835	)
Reconciliation of (loss) income from operations to segment adjusted operating (loss) income:	Drilling Services			Managed Services
(Loss) income from operations	$	(19,004	)	$	98
Depreciation		13,715			—
Segment adjusted operating (loss) income	$	(5,289	)	$	98

Summary of Revenue by Country

Our revenue by country and segment was as follows for the periods indicated (periods representing revenues of less than 10% are included in “Other countries”):

		Three months ended March 31,
Country	Segment	2022		2021
(unaudited, in thousands)
Egypt	Drilling Services	$	17,121	$	—
India	Drilling Services		13,289		8,855
UAE	Managed Services		8,188		—
Qatar	Drilling Services		7,385		7,197
Indonesia	Drilling Services		—		3,970
Other countries (1)	Drilling Services and Managed Services		12,348		144
Total revenues		$	58,331	$	20,166

(1) “Other countries” represent countries in which we operate that individually had operating revenues representing less than 10% of total revenues earned.

Schedule of Property and Equipment, Net by Country

Our property and equipment, net by country, was as follows as of the dates indicated (as of dates representing property and equipment of less than 10% are included in “Other countries”):

	March 31, 2022		December 31, 2021
(unaudited, in thousands)
Egypt	$	168,696	$	173,187
India		92,754		96,583
Indonesia		62,188		63,581
Other countries (1)		45,233		46,253
Total property and equipment	$	368,871	$	379,604

(1) “Other countries” represent countries in which we individually had property and equipment, net, representing less than 10% of total property and equipment, net.