Revenue and Customers (Tables)

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Contract Liabilities

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

	Successor		Predecessor
	March 31, 2021		December 31, 2020
Current contract assets	$	846	$	10,687
Noncurrent contract assets	—		3,174
Total contract assets	846		13,861
Current contract liabilities (deferred revenue)	(2,845)		(34,990)
Noncurrent contract liabilities (deferred revenue)	(8,571)		(24,896)
Total contract liabilities	$	(11,416)	$	(59,886)

Significant changes in the remaining performance obligation contract assets and the contract liabilities balances for the three months ended March 31, 2021 and 2020 are as follows:

	Contract Assets		Contract Liabilities
Net balance at 12/31/2019 (Predecessor)	$	30,800	$	(65,055)
Amortization of deferred costs	(8,799)		—
Additions to deferred costs	2,578		—
Amortization of deferred revenue	—		15,828
Additions to deferred revenue	—		(19,479)
Total	(6,221)		(3,651)
Net balance at 3/31/2020 (Predecessor)	$	24,579	$	(68,706)
Net balance at 12/31/2020 (Predecessor)	$	13,861	$	(59,886)
Amortization of deferred costs	(1,607)		—
Additions to deferred costs	432		—
Amortization of deferred revenue	—		4,142
Additions to deferred revenue	—		(25,479)
Fresh start accounting revaluation	(12,686)		72,936
Total	$	(13,861)	$	51,599
Net balance at 2/5/21 (Predecessor)	$	—	$	(8,287)
Net balance at 2/6/21 (Successor)	$	—	$	(8,287)
Additions to deferred costs	888		—
Amortization of deferred costs	(42)		—
Amortization of deferred revenue	—		—
Additions to deferred revenue	—		(3,129)
Total	846		(3,129)
Net balance at 3/31/2021 (Successor)	$	846	$	(11,416)

Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table reflects revenue expected to be recognized in the future related to unsatisfied performance obligations, by rig type, as of March 31, 2021:    

	For the Years Ended December 31,
	2021 (1)		2022		2023		2024		2025 and beyond		Total
Floaters	$	56	$	11,309	$	51	$	—	$	—	$	11,416
Jackups	—		—		—		—		—		—
Total	$	56	$	11,309	$	51	$	—	$	—	$	11,416

(1) Represents a nine-month period beginning April 1, 2021

Schedule of Disaggregation of Revenue by Rig Types

The following table provides information about contract drilling revenue by rig types:

	Successor		Predecessor
	Period From February 6, 2021 through March 31, 2021		Period From January 1, 2021 through February 5, 2021		Three Months Ended March 31, 2020
Floaters	$	56,048	$	50,057	$	125,336
Jackups	28,581		23,994		142,028
Total	$	84,629	$	74,051	$	267,364