Segments and Geographic Area Analysis (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Summary of Information About Disaggregated Revenue by Equipment type and Country

The following tables provide information about disaggregated revenue by equipment-type and country (in thousands):

	Successor
	Period from April 24, 2021 through December 31, 2021
	Total Contract Drilling Revenues		Revenues Related to Reimbursable Expenses		Total
United States	$	194,912	$	55,471	$	250,383
Australia		95,601		15,132		110,733
United Kingdom		55,245		3,859		59,104
Senegal		48,758		10,110		58,868
Brazil		42,215		—		42,215
Myanmar		28,597		6,166		34,763
Total	$	465,328	$	90,738	$	556,066

	Predecessor
	Period from January 1, 2021 through April 23, 2021
	Total Contract Drilling Revenues		Revenues Related to Reimbursable Expenses		Total
United States	$	93,215	$	7,048	$	100,263
Australia		17,031		4,697		21,728
United Kingdom		27,967		2,300		30,267
Brazil		3,421		—		3,421
Myanmar		11,730		1,970		13,700
Total	$	153,364	$	16,015	$	169,379

	Predecessor
	Year Ended December 31, 2020
	Total Contract Drilling Revenues		Revenues Related to Reimbursable Expenses			Total
United States	$	321,150	$	13,262		$	334,412
Australia		63,876		13,271			77,147
United Kingdom		112,121		8,929			121,050
Brazil		155,436		(18	)		155,418
Malaysia (1)		40,170		5,490			45,660
Total	$	692,753	$	40,934		$	733,687

(1)Revenue earned by the Ocean Monarch during a standby period in Malaysia while awaiting clearance to begin operations in Myanmar waters.

	Predecessor
	Year Ended December 31, 2019
	Total Contract Drilling Revenues		Revenues Related to Reimbursable Expenses		Total
United States	$	507,759	$	7,881	$	515,640
Australia		85,932		23,710		109,642
United Kingdom		149,724		14,036		163,760
Brazil		191,519		83		191,602
Total	$	934,934	$	45,710	$	980,644

Long-Lived Tangible Assets by Country

The following table presents the locations of our long-lived tangible assets by country as of December 31, 2021, 2020 and 2019. A substantial portion of our assets is comprised of rigs that are mobile and, therefore, asset locations at the end of the period are not necessarily indicative of the geographic distribution of the earnings generated by such assets during the periods and may vary from period to period due to the relocation of rigs. In circumstances where our drilling rigs were in transit at the end of a calendar year, they have been presented in the tables below within the country in which they were expected to operate (in thousands).

	Successor		Predecessor
	December 31,		December 31,
	2021 (1) (2)		2020 (2)		2019
Drilling and other property and equipment, net:
United States	$	559,288	$	2,162,488	$	2,227,934
International:
Senegal		188,694		—		—
Spain		142,930		686,436		—
Australia		106,173		722,389		570,964
United Kingdom		98,338		248,500		1,061,585
Brazil		76,383		87,543		883,607
Myanmar		2,258		207,451		—
Singapore		—		5,819		404,420
Other countries (3)		1,831		2,183		4,318
		616,607		1,960,321		2,924,894
Total	$	1,175,895	$	4,122,809	$	5,152,828

(1)Balances reflect a fair value adjustment to “Drilling and other property and equipment” and the elimination of accumulated depreciation aggregating $(2,712.1) million. In addition, the adjustment reflects the fair value adjustment of $(8.4) million to the BOP finance lease assets by setting the ROU assets equal to the ROU liabilities less the prepaid amounts. See Note 3 "Fresh Start Accounting."

(2)During the Predecessor period from January 1, 2021 through April 23, 2021 and the Successor period from April 24, 2021 through December, 31, 2021, we recorded aggregate impairment losses of $197.0 million and $132.4 million, respectively, to write down certain of our drilling rigs and related equipment with indicators of impairment to their estimated recoverable amounts. During the Predecessor year 2020, we recorded aggregate impairment losses of $842.0 million to write down certain of our drilling rigs and related equipment with indicators of impairment to their estimated recoverable amounts.

(3)Countries with long-lived assets that individually comprise less than 5% of total drilling and other property and equipment, net of accumulated depreciation.

Revenues from Major Customers that Contributed More than 10% of Total Revenues

Revenues from our major customers for the Successor period from April 24, 2021 through December 31, 2021 and the Predecessor periods from January 1, 2021 through April 23, 2021 and the years ended December 31, 2020 and 2019 that contributed more than 10% of our total revenues are as follows:

	Successor			Predecessor
	Period from			Period from
	April 24, 2021 through			January 1, 2021 through			Year Ended December 31,
Customer	December 31, 2021			April 23, 2021			2020			2019
BP		25.4	%		39.8	%		20.6	%		3.1	%
Woodside		22.4	%		0.5	%		7.0	%		3.6	%
Occidental		11.5	%		21.4	%		20.1	%		20.6	%
Petróleo Brasileiro S.A.		7.6	%		2.0	%		21.2	%		19.5	%
Shell		5.1	%		9.2	%		10.1	%		5.2	%
Hess Corporation		—			—			10.7	%		28.9	%