Nature of Operations and Recent Events	3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Recent Events	Nature of Operations and Recent Events Except as expressly stated or the context otherwise requires, the terms "we," "us," "our," "ICD," and the "Company" refer to Independence Contract Drilling, Inc. We provide land-based contract drilling services for oil and natural gas producers targeting unconventional resource plays in the United States. We construct, own and operate a rig fleet comprised entirely of custom designed ShaleDriller® rigs. Our standardized rig fleet consists of 14 premium 200 Series ShaleDriller rigs, all of which are equipped with our integrated omni-directional walking system that is specifically designed to optimize pad drilling for our customers. Every rig in our fleet is a 1500-hp, AC programmable rig designed to be fast-moving between drilling sites and is equipped with 7500 psi mud systems, top drives, automated tubular handling systems and blowout preventer handling systems. All of our rigs are equipped with bi-fuel capabilities that enable the rig to operate on either diesel or a natural gas-diesel blend. Our first rig commenced drilling in May 2012. We currently focus our operations on unconventional resource plays located in geographic regions that we can efficiently support from our Houston, Texas facilities in order to maximize economies of scale. Currently, our rigs are operating in the Permian Basin, Eagle Ford Shale and the Haynesville Shale, however, our rigs have previously operated in the Mid-Continent and Eaglebine regions as well. Our business depends on the level of exploration and production activity by oil and natural gas companies operating in the United States, and in particular, the regions where we actively market our contract drilling services. The oil and natural gas exploration and production industry is a historically cyclical industry characterized by significant changes in the levels of exploration and development activities. Oil and natural gas prices and market expectations of potential changes in those prices significantly affect the levels of those activities. Worldwide political, regulatory, economic, and military events, as well as natural disasters have contributed to oil and natural gas price volatility historically, and are likely to continue to do so in the future. Any prolonged reduction in the overall level of exploration and development activities in the United States and the regions where we market our contract drilling services, whether resulting from changes in oil and natural gas prices or otherwise, could materially and adversely affect our business. Oil and Natural Gas Prices and Drilling Activity Both oil and natural gas prices began to decline in the second half of 2014, declined further during 2015 and remained low in 2016. The closing price of oil was as high as $106.06 per barrel during the third quarter of 2014, was $37.13 per barrel on December 31, 2015, and reached a low of $26.19 on February 11, 2016 (West Texas Intermediate - Cushing, Oklahoma (“WTI”) spot price as reported by the United States Energy Information Administration (the “EIA”)). Similarly, natural gas prices (as measured at Henry Hub) declined from an average of $4.37 per MMBtu in 2014, to $2.62 per MMBtu in 2015 and to $2.52 per MMBtu in 2016. As a result, our industry experienced an exceptional downturn and market conditions have only begun to stabilize and slowly recover. In November 2016, Organization of Petroleum Exporting Countries (“OPEC”) members formally agreed to reduce their production quotas, starting January 1, 2017. These production cuts significantly reduced the overhang of global oil supplies. OPEC members met in December 2017 and agreed to extend the freeze into 2018, and are expected to meet again in June 2018 to review market conditions and the impact of their freeze on global supplies. In addition to OPEC members, certain non-OPEC producers such as Russia have agreed to production cuts, which has also supported crude oil and related energy commodity prices. As a result of these supply cuts and positive demand trends, crude oil prices have recovered with WTI oil prices reaching a three-year high of $67.35 on April 13, 2018. Similarly, natural gas prices at Henry Hub averaged $2.99 per MMBtu in 2017, and have averaged $3.04 per MMBtu in 2018 as of April 16, 2018. However, there are no indications at this time that oil prices and rig counts will recover, in the near term, to their previous highs experienced in 2014. As market conditions have improved from trough levels in 2016 and begun to stabilize higher, demand for our ShaleDriller rigs has improved. At March 31, 2018, all of our rigs were under contract and operating. In addition to improving utilization, contract tenors improved with customers signing term contracts of six to twelve months or longer, and at higher dayrates compared to trough levels, with the potential to move higher if market conditions continue to improve. However, if oil prices were to fall for any sustained period of time, market conditions and demand for our products and services could deteriorate. Change in Plan of Sale of Assets During the second quarter of 2017, our management committed to a plan to sell our corporate headquarters and rig assembly yard complex located at 11601 North Galayda Street, Houston, Texas (the "Galayda Facility"). As a result, we reclassified an aggregate $4.0 million of land, buildings and equipment from property, plant and equipment to assets held for sale on our balance sheet and recognized a $0.5 million asset impairment charge representing the difference between the carrying value and the fair value, less the costs to sell the related property. In the third quarter of 2017, we recorded an additional impairment on this group of assets totaling $0.6 million, as a result of water-related damage sustained during the heavy rainfall that occurred during Hurricane Harvey in August 2017. During the first quarter of 2018, management changed its plan to sell all of the Galayda Facility assets and decided to improve and utilize a portion of the land and buildings on the property. Based on this decision, which was previously considered unlikely, certain land and buildings at the Galayda Facility were reclassified to assets held and used as of March 31, 2018. Accordingly, we reduced assets held for sale by $2.7 million and increased property, plant and equipment by $2.9 million on our March 31, 2018 balance sheet and recognized a recovery of asset impairment expense of approximately $208 thousand in our statement of operations for the three months ended March 31, 2018. Additionally, our December 31, 2017 balance sheet was adjusted to reflect a reduction in assets held for sale of $2.7 million and an increase in property, plant and equipment of $2.7 million. In conjunction with the decision to hold and use a portion of the Galayda Facility in the first quarter of 2018, management concluded that four dilapidated buildings on the property would likely be torn down. As such, we impaired the carrying value of these buildings to zero, reducing property, plant and equipment $173 thousand and recognizing asset impairment expense of $173 thousand.

Nature of Operations and Recent Events

Except as expressly stated or the context otherwise requires, the terms "we," "us," "our," "ICD," and the "Company" refer to Independence Contract Drilling, Inc.

We provide land-based contract drilling services for oil and natural gas producers targeting unconventional resource plays in the United States. We construct, own and operate a rig fleet comprised entirely of custom designed ShaleDriller® rigs.

Our standardized rig fleet consists of 14 premium 200 Series ShaleDriller rigs, all of which are equipped with our integrated omni-directional walking system that is specifically designed to optimize pad drilling for our customers. Every rig in our fleet is a 1500-hp, AC programmable rig designed to be fast-moving between drilling sites and is equipped with 7500 psi mud systems, top drives, automated tubular handling systems and blowout preventer handling systems. All of our rigs are equipped with bi-fuel capabilities that enable the rig to operate on either diesel or a natural gas-diesel blend.

Our first rig commenced drilling in May 2012. We currently focus our operations on unconventional resource plays located in geographic regions that we can efficiently support from our Houston, Texas facilities in order to maximize economies of scale. Currently, our rigs are operating in the Permian Basin, Eagle Ford Shale and the Haynesville Shale, however, our rigs have previously operated in the Mid-Continent and Eaglebine regions as well.

Our business depends on the level of exploration and production activity by oil and natural gas companies operating in the United States, and in particular, the regions where we actively market our contract drilling services. The oil and natural gas exploration and production industry is a historically cyclical industry characterized by significant changes in the levels of exploration and development activities. Oil and natural gas prices and market expectations of potential changes in those prices significantly affect the levels of those activities. Worldwide political, regulatory, economic, and military events, as well as natural disasters have contributed to oil and natural gas price volatility historically, and are likely to continue to do so in the future. Any prolonged reduction in the overall level of exploration and development activities in the United States and the regions where we market our contract drilling services, whether resulting from changes in oil and natural gas prices or otherwise, could materially and adversely affect our business.

Oil and Natural Gas Prices and Drilling Activity

Both oil and natural gas prices began to decline in the second half of 2014, declined further during 2015 and remained low in 2016. The closing price of oil was as high as $106.06 per barrel during the third quarter of 2014, was $37.13 per barrel on December 31, 2015, and reached a low of $26.19 on February 11, 2016 (West Texas Intermediate - Cushing, Oklahoma (“WTI”) spot price as reported by the United States Energy Information Administration (the “EIA”)). Similarly, natural gas prices (as measured at Henry Hub) declined from an average of $4.37 per MMBtu in 2014, to $2.62 per MMBtu in 2015 and to $2.52 per MMBtu in 2016. As a result, our industry experienced an exceptional downturn and market conditions have only begun to stabilize and slowly recover.

In November 2016, Organization of Petroleum Exporting Countries (“OPEC”) members formally agreed to reduce their production quotas, starting January 1, 2017. These production cuts significantly reduced the overhang of global oil supplies. OPEC members met in December 2017 and agreed to extend the freeze into 2018, and are expected to meet again in June 2018 to review market conditions and the impact of their freeze on global supplies. In addition to OPEC members, certain non-OPEC producers such as Russia have agreed to production cuts, which has also supported crude oil and related energy commodity prices.

As a result of these supply cuts and positive demand trends, crude oil prices have recovered with WTI oil prices reaching a three-year high of $67.35 on April 13, 2018. Similarly, natural gas prices at Henry Hub averaged $2.99 per MMBtu in 2017, and have averaged $3.04 per MMBtu in 2018 as of April 16, 2018. However, there are no indications at this time that oil prices and rig counts will recover, in the near term, to their previous highs experienced in 2014.

As market conditions have improved from trough levels in 2016 and begun to stabilize higher, demand for our ShaleDriller rigs has improved. At March 31, 2018, all of our rigs were under contract and operating. In addition to improving utilization, contract tenors improved with customers signing term contracts of six to twelve months or longer, and at higher dayrates compared to trough levels, with the potential to move higher if market conditions continue to improve. However, if oil prices were to fall for any sustained period of time, market conditions and demand for our products and services could deteriorate.

Change in Plan of Sale of Assets

During the second quarter of 2017, our management committed to a plan to sell our corporate headquarters and rig assembly yard complex located at 11601 North Galayda Street, Houston, Texas (the "Galayda Facility"). As a result, we reclassified an aggregate $4.0 million of land, buildings and equipment from property, plant and equipment to assets held for sale on our balance sheet and recognized a $0.5 million asset impairment charge representing the difference between the carrying value and the fair value, less the costs to sell the related property. In the third quarter of 2017, we recorded an additional impairment on this group of assets totaling $0.6 million, as a result of water-related damage sustained during the heavy rainfall that occurred during Hurricane Harvey in August 2017.

During the first quarter of 2018, management changed its plan to sell all of the Galayda Facility assets and decided to improve and utilize a portion of the land and buildings on the property. Based on this decision, which was previously considered unlikely, certain land and buildings at the Galayda Facility were reclassified to assets held and used as of March 31, 2018. Accordingly, we reduced assets held for sale by $2.7 million and increased property, plant and equipment by $2.9 million on our March 31, 2018 balance sheet and recognized a recovery of asset impairment expense of approximately $208 thousand in our statement of operations for the three months ended March 31, 2018. Additionally, our December 31, 2017 balance sheet was adjusted to reflect a reduction in assets held for sale of $2.7 million and an increase in property, plant and equipment of $2.7 million.

In conjunction with the decision to hold and use a portion of the Galayda Facility in the first quarter of 2018, management concluded that four dilapidated buildings on the property would likely be torn down. As such, we impaired the carrying value of these buildings to zero, reducing property, plant and equipment $173 thousand and recognizing asset impairment expense of $173 thousand.