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

Quarterly report pursuant to Section 13 or 15(d)

Revenue (Tables)

Revenue (Tables)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Reimbursable revenues during the period were as follows:



	Successor		Predecessor
	Three Months Ended September 30,		Three Months Ended September 30,
Dollars in thousands	2019		2018
Reimbursable revenue	$	23,152	$	13,404



	Successor		Predecessor
	Six Months Ended September 30,		Three Months Ended March 31,		Nine Months Ended September 30,
Dollars in thousands	2019		2019		2018
Reimbursable revenue	$	41,617	$	28,541	$	40,440

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



	Successor
Dollars in thousands	Three Months Ended September 30,
	2019
Lease revenue	$	40,691
Service revenue	119,392
Total revenues	$	160,083



	Successor		Predecessor
Dollars in thousands	Six Months Ended September 30,		Three Months Ended March 31,
	2019		2019
Lease revenue	$	83,122	$	42,041
Service revenue	232,992		115,356
Total revenues	$	316,114	$	157,397

Capitalized Mobilization Costs and Amortization of Capitalized Mobilization Costs

Capitalized mobilization costs were as follows:



	Successor		Predecessor
Dollars in thousands	September 30, 2019		December 31, 2018
Capitalized mobilization costs	$	6,151	$	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 September 30,		Three Months Ended September 30,
Dollars in thousands	2019		2018
Amortization of capitalized mobilization costs	$	352	$	1,774



	Successor		Predecessor
	Six Months Ended September 30,		Three Months Ended March 31,		Nine Months Ended September 30,
Dollars in thousands	2019		2019		2018
Amortization of capitalized mobilization costs	$	480	$	3,066	$	3,901

Contract with Customer, Asset and Liability

Significant changes to contract liabilities balances during the nine months ended September 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	(1,250		)
Increase to deferred revenue during current period	1,015
Balance at September 30, 2019 (Successor)	$	2,837

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



	Successor		Predecessor
Dollars in thousands	September 30, 2019		December 31, 2018
Contract liabilities - current (Deferred revenue) ⁽¹⁾	$	1,942	$	4,081
Contract liabilities - noncurrent (Deferred revenue) ⁽¹⁾	895		2,441
Total contract liabilities	$	2,837	$	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 September 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 September 30, 2019
Dollars in thousands	Remaining 2019		2020	2021	Beyond 2021	Total
Deferred lease revenue	$	—	—	—	—	$	—
Deferred service revenue	$	464	1,842	531	—	$	2,837