XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Total revenues $ 244,958 $ 226,073 $ 758,542 $ 618,014
Operating expenses:        
Depreciation 27,785 26,069 83,596 78,714
General and administrative 16,649 16,320 53,058 52,805
Gain on disposition of assets (955) (73) (4,102) (4,802)
Total operating expenses 244,095 233,648 752,396 669,268
Operating income (loss) 863 (7,575) 6,146 (51,254)
Other income (expense):        
Interest income 161 11 173 12
Interest expense, net of amounts capitalized (13,774) (10,364) (38,569) (28,792)
Foreign currency transaction (loss) gain 184 237 (3,057) (285)
Loss on extinguishment of long-term debt (6,529) 0 (6,529) 0
Other, net (485) 172 (502) 1,487
Loss before income tax (expense) benefit (19,580) (17,519) (42,338) (78,832)
Income tax (expense) benefit (125,436) 23,029 143,334 28,059
Net (loss) income $ (145,016) $ 5,510 $ 100,996 $ (50,773)
(Loss) earnings per share, Basic $ (1.42) $ 0.05 $ 0.99 $ (0.51)
(Loss) earnings per share, Diluted $ (1.42) $ 0.05 $ 0.97 $ (0.51)
Weighted-average shares outstanding, Basic 102,215 100,875 101,681 100,356
Weighted-average shares outstanding, Diluted 102,215 102,273 104,256 100,356
Contract Drilling [Member]        
Revenues:        
Total revenues $ 224,929 $ 189,861 $ 704,302 $ 516,992
Operating expenses:        
Contract drilling, excluding depreciation 181,954 155,567 568,390 442,619
Reimbursable Expenses [Member]        
Revenues:        
Total revenues 20,029 36,212 54,240 101,022
Operating expenses:        
Contract drilling, excluding depreciation $ 18,662 $ 35,765 $ 51,454 $ 99,932