Parker Wellbore Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Revenue (Tables)

Revenue (Tables)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Reimbursable revenues during the period were as follows:



	Successor		Predecessor
	Three Months Ended June 30,		Three Months Ended March 31,		Six Months Ended June 30,
Dollars in thousands	2019		2019		2018
Reimbursable revenue	$	18,465	$	28,541	$	27,036

The following table shows the Company’s revenues by type:



	Successor		Predecessor
Dollars in thousands	Three Months Ended June 30, 2019		Three Months Ended March 31, 2019
Lease revenue	$	42,431	$	42,041
Service revenue	113,600		115,356
Total revenues	$	156,031	$	157,397

Capitalized Mobilization Costs and Amortization of Capitalized Mobilization Costs

Capitalized mobilization costs were as follows:



	Successor		Predecessor
Dollars in thousands	June 30, 2019		December 31, 2018
Capitalized mobilization costs	$	2,904	$	5,343

There was no impairment loss in relation to capitalized costs. Amortization of these capitalized mobilization costs were as follows:



	Successor		Predecessor
	Three Months Ended June 30,		Three Months Ended March 31,		Six Months Ended June 30,
Dollars in thousands	2019		2019		2018
Amortization of capitalized mobilization costs	$	128	$	3,066	$	2,127

Contract with Customer, Asset and Liability

Significant changes to contract liabilities balances during the six months ended June 30, 2019 are shown below:



Dollars in thousands	Contract Liabilities
Balance at December 31, 2018 (Predecessor)	$	6,522
Decrease due to recognition of revenue	(1,451		)
Increase to deferred revenue during current period	1,635
Elimination of deferred revenue due to the adoption of fresh start accounting	(3,634		)
Balance at March 31, 2019 (Predecessor)	3,072


Decrease due to recognition of revenue	(583		)
Increase to deferred revenue during current period	3,517
Balance at June 30, 2019 (Successor)	$	6,006

The following table provides information about contract liabilities from contracts with customers:



	Successor		Predecessor
Dollars in thousands	June 30, 2019		December 31, 2018
Contract liabilities - current (Deferred revenue) ⁽¹⁾	$	5,004	$	4,081
Contract liabilities - noncurrent (Deferred revenue) ⁽¹⁾	1,002		2,441
Total contract liabilities	$	6,006	$	6,522

(1)

Contract liabilities - current and contract liabilities - noncurrent are included in accounts payable and accrued liabilities and other long-term liabilities respectively, in our consolidated condensed balance sheet as of June 30, 2019 and December 31, 2018.

Revenue Expected to be Recognized in the Future Related to Performance Obligations

The following table includes revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period.



	Successor
	Balance at June 30, 2019
Dollars in thousands	Remaining 2019		2020	2021	Beyond 2021	Total
Deferred lease revenue	$	—	—	—	—	$	—
Deferred service revenue	$	4,397	1,078	531	—	$	6,006