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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
REVENUES:        
Contract drilling $ 162,240 $ 282,546 $ 312,103 $ 577,161
Revenues related to reimbursable expenses 5,466 13,805 13,159 27,009
Total revenues 167,706 296,351 325,262 604,170
COSTS AND EXPENSES:        
Contract drilling 64,277 89,918 129,947 220,570
Reimbursable expenses 4,674 9,123 11,276 17,409
Depreciation 41,443 41,053 83,251 83,880
General and administrative 12,445 11,488 27,636 26,665
Asset impairment 58,962 708 58,962 65,432
(Gain) loss on sale of assets (51) 77 (118) 77
Other, net 0 (1,137) 0 (1,060)
Costs and Expenses 181,750 151,230 310,954 412,973
OPERATING (LOSS) INCOME (14,044) 145,121 14,308 191,197
OTHER (EXPENSE) INCOME:        
Interest expense, net of capitalized interest (13,537) (17,098) (29,828) (30,859)
Interest income 265 6 269 10
Gains on extinguishment of debt 0 8,397 0 8,397
Other income 0 0 0 17,976
Other income (expense) total (13,272) (8,695) (29,559) (4,476)
(LOSS) INCOME BEFORE INCOME TAXES (27,316) 136,426 (15,251) 186,721
PROVISION FOR INCOME TAXES 1,546 13,989 3,940 25,203
NET (LOSS) INCOME $ (28,862) $ 122,437 $ (19,191) $ 161,518
(LOSS) EARNINGS PER COMMON SHARE (NOTE 3):        
Basic (in dollars per share) $ (0.37) $ 1.89 $ (0.27) $ 2.49
Diluted (in dollars per share) $ (0.37) $ 1.89 $ (0.27) $ 2.49
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (NOTE 3):        
Basic (in shares) 78,270 64,781 71,504 64,739
Diluted (in shares) 78,270 64,825 71,504 64,870
Dividend declared per share (in USD per share) $ 0 $ 0 $ 0 $ 0.075