Parker Wellbore Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Revenue (Tables)

Revenue (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Reimbursable revenues during the period were as follows:



	Successor		Predecessor
	Nine Months Ended December 31,		Three Months Ended March 31,		Year Ended December 31,
Dollars in thousands	2019		2019		2018
Reimbursable revenue	$	70,174	$	28,541	$	54,620

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



	Successor		Predecessor
Dollars in thousands	Nine Months Ended December 31,		Three Months Ended March 31,
	2019		2019
Lease revenue	$	174,074	$	42,041
Service revenue	298,321		115,356
Total revenues	$	472,395	$	157,397

Capitalized Mobilization Costs and Amortization of Capitalized Mobilization Costs

Capitalized mobilization costs were as follows:



	Successor		Predecessor
Dollars in thousands	December 31, 2019		December 31, 2018
Capitalized mobilization costs	$	5,376	$	5,343

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



	Successor		Predecessor
	Nine Months Ended December 31,		Three Months Ended March 31,		Year Ended December 31,
Dollars in thousands	2019		2019		2018
Amortization of capitalized mobilization costs	$	1,541	$	3,066	$	6,648

Contract with Customer, Asset and Liability

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



	Successor		Predecessor
Dollars in thousands	December 31, 2019		December 31, 2018
Contract liabilities - current (Deferred revenue) ⁽¹⁾	$	1,920	$	4,081
Contract liabilities - noncurrent (Deferred revenue) ⁽¹⁾	531		2,441
Total contract liabilities	$	2,451	$	6,522

(1)

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

Significant changes to contract liabilities balances during the nine months ended December 31, 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	(7,198		)
Increase to deferred revenue during current period	6,577
Balance at December 31, 2019 (Successor)	$	2,451

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 December 31, 2019
Dollars in thousands	2020		2021	2022	Beyond 2022	Total
Deferred lease revenue	$	—	—	—	—	$	—
Deferred service revenue	$	1,920	531	—	—	$	2,451