Quarterly report pursuant to Section 13 or 15(d)

Fresh Start Accounting - Balance Sheet Information (Details)

v3.19.1
Fresh Start Accounting - Balance Sheet Information (Details)
$ in Thousands
Mar. 31, 2019
USD ($)
Current assets:  
Cash and cash equivalents $ 127,849
Restricted cash 21,436
Accounts and notes receivable, net 168,444
Rig materials and supplies 17,839
Other current assets 19,577
Total current assets 355,145
Property, plant and equipment, net 303,970
Intangible assets, net 18,000
Deferred income taxes 4,269
Other non-current assets 32,997
Total assets 714,381
Current liabilities:  
Debtor in possession financing 0
Accounts payable and accrued liabilities 135,583
Accrued income taxes 5,013
Total current liabilities 140,596
Long-term debt 210,000
Other long-term liabilities 20,035
Long-term deferred tax liability 950
Commitments and contingencies
Total liabilities not subject to compromise 371,581
Liabilities subject to compromise 0
Total liabilities 371,581
Stockholders’ equity:  
Accumulated deficit 0
Total stockholders’ equity 342,800
Total liabilities and stockholders’ equity 714,381
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
Other current assets (8,764)
Total current assets 77,674
Property, plant and equipment, net 0
Intangible assets, net 0
Deferred income taxes 0
Other non-current assets 1,253
Total assets 78,927
Current liabilities:  
Debtor in possession financing (10,000)
Accounts payable and 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)
Capital in excess of par value 342,650
Predecessor accumulated other comprehensive income (loss) 0
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)
Other current assets (3,603)
Total current assets (24,788)
Property, plant and equipment, net (229,968)
Intangible assets, net 13,755
Deferred income taxes 1,751
Other non-current assets (6,301)
Total assets (245,551)
Current liabilities:  
Debtor in possession financing 0
Accounts payable and 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:  
Predecessor preferred stock 0
Predecessor accumulated other comprehensive income (loss) 7,256
Accumulated deficit 511,376
Total stockholders’ equity (213,322)
Total liabilities and stockholders’ equity (245,551)
Predecessor  
Current assets:  
Cash and cash equivalents 51,777
Restricted cash 11,070
Accounts and notes receivable, net 168,444
Rig materials and supplies 39,024
Other current assets 31,944
Total current assets 302,259
Property, plant and equipment, net 533,938
Intangible assets, net 4,245
Deferred income taxes 2,518
Other non-current assets 38,045
Total assets 881,005
Current liabilities:  
Debtor in possession financing 10,000
Accounts payable and accrued liabilities 134,461
Accrued income taxes 5,013
Total current liabilities 149,474
Long-term debt 0
Other long-term liabilities 20,901
Long-term deferred tax liability 28,445
Total liabilities not subject to compromise 198,820
Liabilities subject to compromise 600,996
Total liabilities 799,816
Stockholders’ equity:  
Predecessor preferred stock 500
Common stock 1,398
Capital in excess of par value 767,793
Predecessor accumulated other comprehensive income (loss) (7,256)
Accumulated deficit (681,246)
Total stockholders’ equity 81,189
Total liabilities and stockholders’ equity 881,005
Predecessor | Reorganization Adjustments  
Stockholders’ equity:  
Common stock (1,398)
Capital in excess of par value (35,839)
Predecessor | Fresh Start Adjustments  
Stockholders’ equity:  
Common stock 0
Capital in excess of par value (731,954)
Successor  
Current assets:  
Intangible assets, net 4,245
Stockholders’ equity:  
Common stock 150
Capital in excess of par value 342,650
Successor | Reorganization Adjustments  
Stockholders’ equity:  
Common stock 150
Capital in excess of par value 342,650
Successor | Fresh Start Adjustments  
Stockholders’ equity:  
Common stock 0
Capital in excess of par value $ 0