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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating revenues        
Operating revenues $ 697,450 $ 305,872 $ 1,946,039 $ 791,255
Operating costs and expenses        
Depreciation and amortization 77,146 24,868 218,412 77,109
General and administrative 33,039 18,089 95,428 52,300
Merger and integration costs 12,966 9,338 47,049 27,916
(Gain) loss on sale of operating assets, net 0 354 0 (3,105)
Hurricane losses and (recoveries), net 2,642 1,896 22,120 4,701
Total operating costs and expenses 496,674 254,311 1,529,014 726,726
Operating income (loss) 200,776 51,561 417,025 64,529
Other income (expense)        
Interest expense, net of amounts capitalized (13,005) (7,943) (44,539) (23,338)
Gain on bargain purchase 5,005 0 5,005 0
Gain (loss) on extinguishment of debt, net 0 (196) (26,397) (196)
Interest income and other, net 17,206 3,235 16,292 4,766
Income (loss) before income taxes 209,982 46,657 367,386 45,761
Income tax benefit (provision) (51,659) (13,072) (35,184) (11,775)
Net income (loss) $ 158,323 $ 33,585 $ 332,202 $ 33,986
Basic:        
Net income (loss) (in usd per share) $ 1.14 $ 0.48 $ 2.42 $ 0.49
Diluted:        
Net income (loss) (in usd per share) $ 1.09 $ 0.41 $ 2.29 $ 0.42
Contract drilling services        
Operating revenues        
Operating revenues $ 671,004 $ 289,494 $ 1,852,474 $ 746,992
Operating costs and expenses        
Cost of services 354,199 186,482 1,078,521 530,710
Reimbursables and other        
Operating revenues        
Operating revenues 26,446 16,378 93,565 44,263
Operating costs and expenses        
Cost of services $ 16,682 $ 13,284 $ 67,484 $ 37,095