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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 5 Months Ended 6 Months Ended 12 Months Ended
Feb. 10, 2016
Jun. 30, 2016
Jun. 30, 2015
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES            
Net income (loss)   $ (64,762)        
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:            
Depreciation expense   30,457        
Amortization of debt financing costs   193        
Amortization of debt discount   18,945        
Deferred income tax expense (benefit)   (1,741)        
Loss on disposal of assets   624        
Changes in operating assets and liabilities:            
Trade receivables   46,147        
Inventory   (2,129)        
Prepaid expenses and other current assets   (1,914)        
Other assets   569        
Accounts payable   92        
Accrued liabilities and other long-term liabilities   (26,277)        
Net cash provided by (used in) operating activities   204        
CASH FLOWS FROM INVESTING ACTIVITIES            
Additions to property and equipment   (7,982)        
Net cash provided by (used in) investing activities   (7,982)        
CASH FLOWS FROM FINANCING ACTIVITIES            
Repayment of long-term debt   (715)        
Debt issuance costs   (51)        
Net cash provided by (used in) financing activities   (766)        
Net increase (decrease) in cash and cash equivalents   (8,544)        
Cash and cash equivalents-beginning of period   249,046        
Cash and cash equivalents-end of period $ 249,046 240,502        
Cash paid for:            
Interest   7,436        
Income taxes   12,392        
Non-cash investing and financing transactions:            
Payment of interest in kind on the Convertible Notes   2,932        
Interest capitalized   0        
Predecessor            
CASH FLOWS FROM OPERATING ACTIVITIES            
Net income (loss) (472,015)   $ 51,240 $ 22,254 $ 93,113 $ (47,617)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:            
Depreciation expense 10,696   63,404 127,359 126,610 106,609
Amortization of debt financing costs     4,238 7,800 10,022 11,455
Amortization of debt discount     1,205 2,242 2,997 1,319
Reorganization items; debt discount and issuance costs write-off       37,129    
Reorganization items 430,210          
Non-cash (gain) loss on debt extinguishment     (10,814) (10,814) (4,409) 6,070
Accelerated deferred mobilization income       (21,508)    
Deferred income tax expense (benefit)     (534) 2,122 (305) 997
Loss on disposal of assets     158 1,108 3,008 1,603
Changes in operating assets and liabilities:            
Restricted cash (1,000)       2,125 1,390
Trade receivables (3,575)   8,561 80,903 12,399 (47,586)
Inventory 223   (340) 1,397 (10,088) (17,860)
Prepaid expenses and other current assets 6,893   8,794 5,991 (4,660) 1,278
Other assets 941   4,101 8,549 5,275 (13,686)
Accounts payable (14,890)   (86,701) (154,922) (40,580) 41,454
Accrued liabilities and other long-term liabilities 21,152   (18,653) (17,023) 44,217 (26,550)
Net cash provided by (used in) operating activities (21,365)   24,659 92,587 239,724 18,876
CASH FLOWS FROM INVESTING ACTIVITIES            
Additions to property and equipment 116   (17,017) (46,490) (35,693) (523,781)
Proceeds from sale of property and equipment           22
Net cash provided by (used in) investing activities 116   (17,017) (46,490) (35,693) (523,759)
CASH FLOWS FROM FINANCING ACTIVITIES            
Proceeds from issuance of senior secured notes, net           775,000
Proceeds from issuance of term loan, net           344,750
Repayment of long-term debt (7,000)   (54,605) (67,980) (167,561) (1,033,874)
Distributions to VDC       (498) (995) (220)
Proceeds from issuance of 10% Second Lien Notes 76,125          
Proceeds from (repayment of) revolving credit agreement, net       150,000 (10,000) 10,000
Debt issuance costs (2,250)         (27,679)
Net cash provided by (used in) financing activities 66,875   (54,605) 81,522 (178,556) 67,977
Net increase (decrease) in cash and cash equivalents 45,626   (46,963) 127,619 25,475 (436,906)
Cash and cash equivalents-beginning of period 203,420 $ 249,046 75,801 75,801 50,326 487,232
Cash and cash equivalents-end of period 249,046   28,838 203,420 75,801 50,326
Cash paid for:            
Interest 1,568   10,453 124,295 194,561 243,843
Income taxes 2,631   $ 32,328 50,840 27,734 21,341
Non-cash investing and financing transactions:            
Note issued in acquisition of management entities       $ 61,477    
Interest capitalized $ 0         6,456
Trade-in value on equipment upgrades         $ 922 $ 831