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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 8 Months Ended 9 Months Ended
Feb. 05, 2021
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2021
Sep. 30, 2022
Operating revenues          
Operating revenues $ 77,481 $ 305,872 $ 250,371 $ 562,147 $ 791,255
Operating costs and expenses          
Depreciation and amortization 20,622 24,868 25,248 64,831 77,109
General and administrative 5,727 18,089 14,982 47,939 52,300
Merger and integration costs 0 9,338 5,033 13,786 27,916
(Gain) loss on sale of operating assets, net 0 354 3,146 3,146 (3,105)
Hurricane losses and (recoveries), net 0 1,896 10,441 10,441 4,701
Total operating costs and expenses 76,051 254,311 263,864 638,573 726,726
Operating income (loss) 1,430 51,561 (13,493) (76,426) 64,529
Other income (expense)          
Interest expense, net of amounts capitalized (229) (7,943) (8,870) (23,628) (23,338)
Gain on bargain purchase 0     64,479 0
Loss on extinguishment of debt, net 0 (196) 0 0 (196)
Interest income and other, net 399 3,235 973 7,490 4,766
Income (loss) before income taxes 253,651 46,657 (21,390) (28,085) 45,761
Income tax provision (3,423) (13,072) (2,275) 6,631 (11,775)
Net income (loss) $ 250,228 $ 33,585 $ (23,665) $ (21,454) $ 33,986
Basic:          
Net income (loss) (in usd per share) $ 1.00 $ 0.48 $ (0.36) $ (0.35) $ 0.49
Diluted:          
Net income (loss) (in usd per share) $ 0.98 $ 0.41 $ (0.36) $ (0.35) $ 0.42
Contract drilling services          
Operating revenues          
Operating revenues $ 74,051 $ 289,494 $ 231,154 $ 515,680 $ 746,992
Operating costs and expenses          
Cost of services 46,965 186,482 188,552 456,853 530,710
Reimbursables and other          
Operating revenues          
Operating revenues 3,430 16,378 19,217 46,467 44,263
Operating costs and expenses          
Cost of services $ 2,737 $ 13,284 $ 16,462 $ 41,577 $ 37,095