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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Operating revenues        
Operating revenues $ 638,535 $ 275,153 $ 1,248,589 $ 485,383
Operating costs and expenses        
Depreciation and amortization 71,324 26,636 141,266 52,241
General and administrative 32,352 16,687 62,389 34,211
Merger and integration costs 22,452 9,057 34,083 18,578
(Gain) loss on sale of operating assets, net 0 1,103 0 (3,459)
Hurricane losses and (recoveries), net 15,934 (14,407) 19,478 2,805
Total operating costs and expenses 529,391 227,554 1,032,340 472,415
Operating income (loss) 109,144 47,599 216,249 12,968
Other income (expense)        
Interest expense, net of amounts capitalized (14,662) (7,715) (31,534) (15,395)
Gain (loss) on extinguishment of debt, net (26,397) 0 (26,397) 0
Interest income and other, net (2,940) 1,081 (914) 1,531
Income (loss) before income taxes 65,145 40,965 157,404 (896)
Income tax benefit (provision) 671 (3,908) 16,475 1,297
Net income (loss) $ 65,816 $ 37,057 $ 173,879 $ 401
Basic:        
Net income (loss) (in usd per share) $ 0.48 $ 0.53 $ 1.27 $ 0.01
Diluted:        
Net income (loss) (in usd per share) $ 0.45 $ 0.45 $ 1.19 $ 0
Contract drilling services        
Operating revenues        
Operating revenues $ 606,180 $ 262,463 $ 1,181,470 $ 457,498
Operating costs and expenses        
Cost of services 362,533 178,145 724,322 344,228
Reimbursables and other        
Operating revenues        
Operating revenues 32,355 12,690 67,119 27,885
Operating costs and expenses        
Cost of services $ 24,796 $ 10,333 $ 50,802 $ 23,811