Emergence from Voluntary Reorganization under Chapter 11 / Fresh Start Accounting Schedule of Fresh-Start Adjustments (Details) - USD ($) $ in Thousands		May 31, 2020	May 30, 2020
Current assets:
Cash and cash equivalents		$ 10,592	$ 21,253
Restricted cash		16,173	4,452
Receivables
Trade, net of allowance for doubtful accounts		33,537	33,537
Unbilled receivables		9,163	9,163
Insurance recoveries		23,636	23,636
Other receivables		6,256	5,256
Inventory		14,129	21,012
Assets held for sale		1,854	1,825
Prepaid expenses and other current assets		5,769	4,817
Total current assets		121,109	124,951
Property and equipment, at cost		195,971	1,082,704
Less accumulated depreciation		0	655,512
Net property and equipment		195,971	427,192
Intangible assets, net of accumulated amortization		9,370	0
Deferred income taxes		8,740	10,897
Operating lease assets		5,234	5,234
Other noncurrent assets		12,199	13,247
Total assets		352,623	581,521
Current liabilities:
Accounts payable		15,123	24,601
Deferred revenues		121	121
Commitment Premium		0	9,584
Debtor in possession financing		0	4,000
Accrued expenses:
Employee compensation and related costs		4,970	4,970
Insurance claims and settlements		23,517	23,517
Insurance premiums and deductibles		5,269	5,269
Interest		44	3,775
Other		16,755	12,436
Total current liabilities		65,799	88,273
Long-term debt, less unamortized discount and debt issuance costs		141,239	175,000
Noncurrent operating lease liabilities		4,189	4,189
Deferred income taxes		1,071	4,296
Other noncurrent liabilities		1,366	1,366
Total liabilities not subject to compromise		213,664	273,124
Liabilities subject to compromise		0	308,422
Shareholders' equity:
Predecessor common stock		0	8,893
Successor common stock		1	0
Predecessor additional paid-in capital		0	553,631
Successor additional paid-in capital		138,958	0
Predecessor treasury stock		0	(5,098)
Accumulated deficit		0	(557,451)
Total stockholders' equity		138,959	(25)
Total liabilities and stockholders' equity		$ 352,623	581,521
Reorganization Adjustments [Member]
Current assets:
Cash and cash equivalents	[1]		(10,661)
Restricted cash	[2]		11,721
Receivables
Trade, net of allowance for doubtful accounts			0
Unbilled receivables			0
Insurance recoveries			0
Other receivables	[3]		1,000
Inventory			0
Assets held for sale			0
Prepaid expenses and other current assets			0
Total current assets			2,060
Property and equipment, at cost			0
Less accumulated depreciation			0
Net property and equipment			0
Intangible assets, net of accumulated amortization			0
Deferred income taxes			0
Operating lease assets			0
Other noncurrent assets	[4]		(5,023)
Total assets			(2,963)
Current liabilities:
Accounts payable	[5]		(9,478)
Deferred revenues			0
Commitment Premium	[6]		(9,584)
Debtor in possession financing	[7]		(4,000)
Accrued expenses:
Employee compensation and related costs			0
Insurance claims and settlements			0
Insurance premiums and deductibles			0
Interest	[8]		(3,731)
Other	[9]		4,329
Total current liabilities			(22,464)
Long-term debt, less unamortized discount and debt issuance costs	[10]		(53,831)
Noncurrent operating lease liabilities			0
Deferred income taxes			0
Other noncurrent liabilities			0
Total liabilities not subject to compromise			(76,295)
Liabilities subject to compromise	[11]		(308,422)
Shareholders' equity:
Predecessor common stock	[12]		(8,893)
Successor common stock	[13]		1
Predecessor additional paid-in capital	[14]		(553,631)
Successor additional paid-in capital	[15]		98,413
Predecessor treasury stock	[16]		5,098
Accumulated deficit	[17]		840,766
Total stockholders' equity			381,754
Total liabilities and stockholders' equity			(2,963)
Fresh Start Accounting Adjustments [Member]
Current assets:
Cash and cash equivalents			0
Restricted cash			0
Receivables
Trade, net of allowance for doubtful accounts			0
Unbilled receivables			0
Insurance recoveries			0
Other receivables			0
Inventory	[18]		(6,883)
Assets held for sale	[19]		29
Prepaid expenses and other current assets	[20]		952
Total current assets			(5,902)
Property and equipment, at cost	[21]		(886,733)
Less accumulated depreciation	[21]		(655,512)
Net property and equipment			(231,221)
Intangible assets, net of accumulated amortization	[22]		9,370
Deferred income taxes	[23]		(2,157)
Operating lease assets			0
Other noncurrent assets	[24]		3,975
Total assets			(225,935)
Current liabilities:
Accounts payable			0
Deferred revenues			0
Commitment Premium			0
Debtor in possession financing			0
Accrued expenses:
Employee compensation and related costs			0
Insurance claims and settlements			0
Insurance premiums and deductibles			0
Interest			0
Other			(10)
Total current liabilities			(10)
Long-term debt, less unamortized discount and debt issuance costs	[25]		20,070
Noncurrent operating lease liabilities			0
Deferred income taxes	[26]		(3,225)
Other noncurrent liabilities			0
Total liabilities not subject to compromise			16,835
Liabilities subject to compromise			0
Shareholders' equity:
Predecessor common stock			0
Successor common stock			0
Predecessor additional paid-in capital			0
Successor additional paid-in capital	[27]		40,545
Predecessor treasury stock			0
Accumulated deficit	[28]		(283,315)
Total stockholders' equity			(242,770)
Total liabilities and stockholders' equity			$ (225,935)

[1] Represents the following net change in cash and cash equivalents: Cash proceeds from Convertible Notes$120,187 Cash proceeds from Senior Secured Notes75,000 Payment to fund claims reserve(950)Payment to escrow remaining professional fees(10,771)Payment of professional fees(9,468)Payment in full to extinguish DIP Facility(4,000)Payment of accrued interest on DIP Facility(55)Payment of DIP Facility fees(177)Payment in full to extinguish Prepetition Term Loan(175,000)Payment of accrued interest on Prepetition Term Loan(3,677)Payment of prepayment penalty on Prepetition Term Loan(1,750)$(10,661)

[2] Represents the following net change in restricted cash: Payment to fund rejected leases claims reserve$950 Payment to escrow remaining professional fees10,771 $11,721 

[3] Represents recognition of a receivable for a portion of the proceeds from the issuance of the Senior Secured Notes which was received in June 2020.

[4] Represents the reclassification of previously paid debt issuance costs from deferred assets to offset the carrying amount of long-term debt.

[5] Represents the payment of professional fees which were incurred prior to emergence.

[6] Represents the settlement of the Backstop Commitment Premium upon issuance of the Convertible Notes.

[7] Represents the payment to extinguish the DIP Facility.

[8] Represents the payment of accrued interest on the Prepetition Term Loan and DIP Facility.

[9] Represents the increase in accrued expenses for fees which were incurred upon our emergence from Chapter 11.

[10] Represents the following changes in long-term debt, less unamortized discount and debt issuance costs: Payment in full to extinguish Prepetition Term Loan$(175,000)Issuance of Senior Secured Notes at Par78,125 Recognition of debt issue costs on Senior Secured Notes(2,913)Recognition of liability component of Convertible Notes issuance47,225 Recognition of debt issuance costs on liability component of Convertible Notes(1,268)$(53,831) Due to the Convertible Notes’ embedded conversion option, the liability and equity components were reported separately, as described further in Note 7, Debt.

[11] Represents the settlement of liabilities subject to compromise in accordance with the Plan, for which the resulting gain is as follows: Prepetition Senior Notes$300,000 Accrued interest on Prepetition Senior Notes8,422 Liabilities subject to compromise308,422 Cash paid by holders of Prepetition Senior Notes118,013 Issuance of equity to Prepetition Senior Notes creditors(17,044)Notes Received by Prepetition Senior Note holders(118,013)$291,378 

[12] Represents the cancellation of Predecessor common stock.

[13] Represents the issuance of Successor common stock to prior equity holders and to settle the Prepetition Senior Notes.

[14] Represents the cancellation of Predecessor additional paid-in capital.

[15] The changes in Successor additional paid-in capital were as follows: Recognition of equity component of Convertible Notes$82,546 Issuance of Successor common stock to Prepetition Senior Notes creditors and prior equity holders18,083 Recognition of debt issuance costs of Convertible Notes equity component(2,216)$98,413  Due to the Convertible Notes’ embedded conversion option, the liability and equity components were reported separately, as described further in Note 7, Debt.

[16] Represents the cancellation of Predecessor treasury stock.

[17] Represents the cumulative impact to Predecessor retained earnings of the reorganization adjustments described above.

[18] Represents the fair value adjustment to inventory, as described further in the previous section under the heading “Valuation Process”.

[19] Represents the fair value adjustment to assets held for sale, as described further in the previous section under the heading “Valuation Process”.

[20] Represents deferred compensation associated with the excess of fair value over the par value of Convertible Notes purchased by senior management, which is compensation to the Successor and therefore was expensed in June 2020.

[21] Represents the following fair value adjustments to property and equipment: Predecessor
Historical ValueFair Value
AdjustmentSuccessor
Fair ValueDrilling rigs and equipment$1,010,612 $(832,294)$178,318 Vehicles41,283 (28,561)12,722 Building and improvements16,619 (13,742)2,877 Office equipment12,231 (11,743)488 Land1,959 (393)1,566 $1,082,704 $(886,733)$195,971 Less: Accumulated Depreciation(655,512)655,512 — $427,192 $(231,221)$195,971 

[22] Represents the fair value adjustment to recognize the trademark and tradename of Pioneer Energy Services Corp. as an intangible, as described further in the above section under the heading “Valuation Process”.

[23] Represents the recognition of the noncurrent deferred tax asset as a result of the cumulative tax impact of the fresh start adjustments herein.

[24] Represents a prepaid tax asset established as part of the fresh start accounting adjustments.

[25] Represents the following fair value adjustments to long-term debt less unamortized discount and debt issuance costs: Fair value adjustment to the liability component of the Convertible Notes$23,195 Discount on Senior Secured Notes(3,125)$20,070  Due to the Convertible Notes’ embedded conversion option, the liability and equity components were reported separately, as described further in Note 7, Debt.

[26] Represents the derecognition of the deferred tax liability as a result of the cumulative tax impact of the fresh start adjustments herein.

[27] Represents the fair value adjustment to the equity component of the Convertible Notes.

[28] Represents the cumulative impact of the fresh start accounting adjustments discussed above and the elimination of Predecessor accumulated earnings.