Annual report pursuant to Section 13 and 15(d)

Fresh Start Accounting - Balance Sheet Information (Details)

v3.19.3.a.u2
Fresh Start Accounting - Balance Sheet Information (Details) - USD ($)
$ in Thousands
Mar. 31, 2019
Mar. 30, 2019
Current assets:    
Cash and cash equivalents $ 127,849 $ 51,777
Restricted cash 21,436 11,070
Accounts and notes receivable, net 168,444 168,444
Rig materials and supplies 17,839 39,024
Deferred costs 115 3,718
Other tax assets 2,725 2,725
Other current assets 16,737 25,501
Total current assets 355,145 302,259
Property, plant, and equipment, net 303,970 533,938
Intangible assets, net 18,000 4,245
Deferred income taxes 4,269 2,518
Rig materials and supplies 3,858 10,703
Other non-current assets 29,139 27,342
Total assets 714,381 881,005
Current liabilities:    
Debtor in possession financing 0 10,000
Accounts payable 68,633 68,633
Accrued liabilities 66,950 65,828
Accrued income taxes 5,013 5,013
Total current liabilities 140,596 149,474
Long-term debt 210,000 0
Other long-term liabilities 20,035 20,901
Long-term deferred tax liability 950 28,445
Commitments and contingencies
Total liabilities not subject to compromise 371,581 198,820
Liabilities subject to compromise 0 600,996
Total liabilities 371,581 799,816
Stockholders’ equity:    
Predecessor preferred stock   500
Common stock 150 1,398
Capital in excess of par value 342,650 767,793
Predecessor accumulated other comprehensive income (loss)   (7,256)
Retained earnings (accumulated deficit)   (681,246)
Total stockholders’ equity 342,800 81,189
Total liabilities and stockholders’ equity 714,381 881,005
Reorganization Adjustments    
Current assets:    
Cash and cash equivalents 76,072  
Restricted cash 10,366  
Accounts and notes receivable, net 0  
Rig materials and supplies 0  
Deferred costs 0  
Other tax assets 0  
Other current assets (8,764)  
Total current assets 77,674  
Property, plant, and equipment, net 0  
Intangible assets, net 0  
Deferred income taxes 0  
Rig materials and supplies  
Other non-current assets 1,253  
Total assets 78,927  
Current liabilities:    
Debtor in possession financing (10,000)  
Accounts payable 0  
Accrued liabilities 4,990  
Accrued income taxes 0  
Total current liabilities (5,010)  
Long-term debt 210,000  
Other long-term liabilities 0  
Long-term deferred tax liability 0  
Commitments and contingencies  
Total liabilities not subject to compromise 204,990  
Liabilities subject to compromise (600,996)  
Total liabilities (396,006)  
Stockholders’ equity:    
Predecessor preferred stock (500)  
Common stock 150 (1,398)
Capital in excess of par value 342,650 $ (35,839)
Retained earnings (accumulated deficit) 169,870  
Total stockholders’ equity 474,933  
Total liabilities and stockholders’ equity 78,927  
Fresh Start Adjustments    
Current assets:    
Cash and cash equivalents 0  
Restricted cash 0  
Accounts and notes receivable, net 0  
Rig materials and supplies (21,185)  
Deferred costs (3,603)  
Other tax assets 0  
Other current assets 0  
Total current assets (24,788)  
Property, plant, and equipment, net (229,968)  
Intangible assets, net 13,755  
Deferred income taxes 1,751  
Rig materials and supplies (6,845)  
Other non-current assets 544  
Total assets (245,551)  
Current liabilities:    
Debtor in possession financing 0  
Accounts payable 0  
Accrued liabilities (3,868)  
Accrued income taxes 0  
Total current liabilities (3,868)  
Long-term debt 0  
Other long-term liabilities (866)  
Long-term deferred tax liability (27,495)  
Commitments and contingencies  
Total liabilities not subject to compromise (32,229)  
Liabilities subject to compromise 0  
Total liabilities (32,229)  
Stockholders’ equity:    
Capital in excess of par value (731,954)  
Predecessor accumulated other comprehensive income (loss) 7,256  
Retained earnings (accumulated deficit) 511,376  
Total stockholders’ equity (213,322)  
Total liabilities and stockholders’ equity $ (245,551)