Revenue and Customers (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue by Rig Types

The following table provides information about contract drilling revenue by rig types:

	Successor						Predecessor
					Period From		Period From
					February 6, 2021		January 1, 2021
	Year Ended		Year Ended		through		through
	December 31, 2023		December 31, 2022		December 31, 2021		February 5, 2021
Floaters	$	2,010,113	$	997,819	$	482,283	$	50,057
Jackups	451,602		335,022		225,848		23,994
Total	$	2,461,715	$	1,332,841	$	708,131	$	74,051

Schedule of Contract Assets and Contract Liabilities

The following table provides information about contract assets and contract liabilities from contracts with customers:

	December 31, 2023		December 31, 2022
Current customer contract assets	$	4,208	$	11,169
Noncurrent customer contract assets	208		368
Total customer contract assets	4,416		11,537
Current deferred revenue	(19,679)		(40,214)
Noncurrent deferred revenue	(23,393)		(19,583)
Total deferred revenue	$	(43,072)	$	(59,797)

Significant changes in the remaining performance obligation contract assets and the contract liabilities balances for the year ended December 31, 2023, and 2022, are as follows:

	Contract Assets		Contract Liabilities
Net balance at December 31, 2020 (Predecessor)	$	13,861	$	(59,886)
Amortization of deferred costs	(1,607)		—
Additions to deferred costs	432		—
Amortization of deferred revenue	—		4,142
Additions to deferred revenue	—		(25,479)
Fresh start accounting revaluation	(12,686)		72,936
Total	(13,861)		51,599
Net balance at February 5, 2021 (Predecessor)	$	—	$	(8,287)
Net balance at February 6, 2021 (Successor)	$	—	$	(8,287)
Amortization of deferred costs	(3,908)		—
Additions to deferred costs	9,652		—
Amortization of deferred revenue	—		13,729
Additions to deferred revenue	—		(33,197)
Total	5,744		(19,468)
Net balance at December 31, 2021 (Successor)	$	5,744	$	(27,755)
Amortization of deferred costs	(19,875)		—
Additions to deferred costs	34,187		—
Amortization of deferred revenue	—		55,521
Additions to deferred revenue	—		(108,971)
Reclassification to held for sale and subsequent derecognition	(8,519)		21,408
Total	5,793		(32,042)
Net balance at December 31, 2022 (Successor)	$	11,537	$	(59,797)
Amortization of deferred costs	(26,696)		—
Additions to deferred costs	19,575		—
Amortization of deferred revenue	—		77,155
Additions to deferred revenue	—		(60,430)
Total	(7,121)		16,725
Net balance at December 31, 2023 (Successor)	$	4,416	$	(43,072)

	Unfavorable contacts		Favorable contracts
Balance at February 6, 2021	$	—	$	—
Additions	—		113,389
Amortization	—		(51,540)
Balance at December 31, 2021	$	—	$	61,849
Additions	(237,703)		22,991
Amortization	55,820		(50,468)
Balance at December 31, 2022	$	(181,883)	$	34,372
Additions	—		—
Amortization	131,020		(24,244)
Balance at December 31, 2023	$	(50,863)	$	10,128

Estimated future amortization over the expected remaining contract periods:

	Year ending December 31,
	2024		2025		Total
Unfavorable contracts	$	42,655	$	8,208	$	50,863
Favorable contracts	(7,678)		(2,450)		(10,128)
Total	$	34,977	$	5,758	$	40,735

Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table reflects revenue expected to be recognized in the future related to deferred revenue, by rig type, at the end of the reporting period:

	Year Ending December 31,
	2024		2025		2026		2027		Total
Floaters	$	16,201	$	12,557	$	4,245	$	1,814	$	34,817
Jackups	3,695		3,235		1,023		302		$	8,255
Total	$	19,896	$	15,792	$	5,268	$	2,116	$	43,072