Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table summarizes revenues from our contracts disaggregated by revenue generating activity contained therein for the three months ended March 31, 2020 and 2019:

	Three Months Ended March 31,
(in thousands)	2020		2019
Dayrate drilling	$	34,478	$	56,451
Mobilization	1,541		1,260
Reimbursables	2,448		1,604
Early termination	27		—
Capital modification	—		10
Intangible	—		1,033
Total revenue	$	38,494	$	60,358

Summary of Contract with Customer, Asset and Liability

The following table provides information about receivables and contract liabilities related to contracts with customers. We had no contract assets as of March 31, 2020 or December 31, 2019.

(in thousands)	March 31, 2020			December 31, 2019
Receivables, which are included in “Accounts receivable, net”	$	26,752		$	35,378
Contract liabilities, which are included in “Accrued liabilities - deferred revenue”	$	(505	)	$	(311	)

Significant changes in the contract liabilities balance during the period are as follows:

	Three Months Ended March 31,
(in thousands)	2020			2019
Revenue recognized that was included in contract liabilities at beginning of period	$	311		$	732
Increase in contract liabilities due to cash received, excluding amounts recognized as revenue	$	(505	)	$	(479	)

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2020. The estimated revenue does not include amounts of variable consideration that are constrained.

	Year Ending December 31,
(in thousands)	2020		2021		2022		2023
Revenue	$	505	$	—	$	—	$	—