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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 27,296 $ 405,869
Restricted cash 24,266 24,511
Accounts receivable 175,633 136,222
Less: allowance for credit losses (5,614) (5,562)
Accounts receivable, net 170,019 130,660
Prepaid expenses and other current assets 62,101 62,275
Assets held for sale 1,000 2,000
Total current assets 284,682 625,315
Drilling and other property and equipment, net of accumulated depreciation 1,328,825 4,122,809
Other assets 78,226 200,329
Total assets 1,691,733 4,948,453
Current liabilities:    
Accounts payable 35,725 33,437
Accrued liabilities 134,186 140,788
Taxes payable 29,245 27,214
Current finance lease liabilities 15,599  
Total current liabilities 214,755 201,439
Long-term debt 306,145  
Noncurrent finance lease liabilities 152,457  
Deferred tax liability 2,433 28,338
Other liabilities 128,122 117,305
Commitments and contingencies (Note 11)
Total liabilities not subject to compromise 803,912 347,082
Liabilities subject to compromise   2,618,805
Total liabilities 803,912 2,965,887
Stockholders’ equity:    
Predecessor preferred stock (par value $0.01, 25,000 shares authorized, none issued and outstanding) and Successor preferred stock (par value of $0.0001, 50,000 shares authorized, none issued and outstanding
Predecessor common stock (par value $0.01, 500,000 shares authorized; 145,264 shares issued and 138,054 shares outstanding at December 31, 2020) and Successor common stock (par value $0.0001, 750,000 shares authorized; 100,075 shares issued and outstanding at September 30, 2021) 10 1,453
Predecessor treasury stock, at cost   (206,163)
Predecessor additional paid-in capital and Successor additional paid-in capital 940,286 2,029,979
(Accumulated deficit) retained earnings (52,475) 157,297
Total stockholders’ equity 887,821 1,982,566
Total liabilities and stockholders’ equity $ 1,691,733 $ 4,948,453