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Consolidated Statements of Operations - USD ($)
shares in Thousands
4 Months Ended 8 Months Ended 12 Months Ended
Apr. 23, 2021
Dec. 31, 2021
Dec. 31, 2023
Dec. 31, 2022
Revenues:        
Total revenues $ 169,379,000 $ 556,066,000 $ 1,056,179,000 $ 841,278,000
Operating expenses:        
Depreciation 92,758,000 68,504,000 111,301,000 103,478,000
General and administrative 15,036,000 53,494,000 72,248,000 70,196,000
Impairment of assets 197,027,000 132,449,000 0 0
Gain on disposition of assets (5,486,000) (1,024,000) (4,382,000) (4,895,000)
Total operating expenses 496,438,000 707,246,000 1,005,118,000 904,723,000
Operating income (loss) (327,059,000) (151,180,000) 51,061,000 (63,445,000)
Other income (expense):        
Interest income 30,000 3,000 1,637,000 18,000
Interest expense (excludes $35,390 of contractual interest expense on debt subject to compromise for the period from January 1, 2021 through April 23, 2021.) (34,827,000) (26,180,000) (53,416,000) (40,423,000)
Foreign currency transaction loss (172,000) (997,000) (5,920,000) (3,023,000)
Loss on extinguishment of long-term debt 0 0 (6,529,000) 0
Reorganization items, net (1,639,763,000) (8,088,000) 0 0
Other, net 398,000 10,752,000 (556,000) 1,267,000
Loss before income tax (expense) benefit (2,001,393,000) (175,690,000) (13,723,000) (105,606,000)
Income tax (expense) benefit 39,404,000 (1,654,000) (30,983,000) 2,395,000
Net loss $ (1,961,989,000) $ (177,344,000) $ (44,706,000) $ (103,211,000)
Earnings Per Share, Basic $ (14.21) $ (1.77) $ (0.44) $ (1.03)
Earnings Per Share, Diluted $ (14.21) $ (1.77) $ (0.44) $ (1.03)
Weighted Average Number of Shares Outstanding, Basic 138,054 100,071 101,842 100,561
Weighted Average Number of Shares Outstanding, Diluted 138,054 100,071 101,842 100,561
Contract Drilling [Member]        
Revenues:        
Total revenues $ 153,364,000 $ 465,328,000 $ 983,983,000 $ 724,744,000
Operating expenses:        
Contract drilling, excluding depreciation 181,626,000 364,539,000 757,193,000 620,982,000
Reimbursable Expenses [Member]        
Revenues:        
Total revenues 16,015,000 90,738,000 72,196,000 116,534,000
Operating expenses:        
Contract drilling, excluding depreciation $ 15,477,000 $ 89,284,000 $ 68,758,000 $ 114,962,000