10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

______________________________________________ 

FORM 10-Q

______________________________________________ 

(Mark one)

ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2019

or

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 1-8182

PIONEER ENERGY SERVICES CORP.

(Exact name of registrant as specified in its charter)

____________________________________________ 

TEXAS	74-2088619
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)
1250 N.E. Loop 410, Suite 1000 San Antonio, Texas	78209
(Address of principal executive offices)	(Zip Code)
Registrant’s telephone number, including area code: (855) 884-0575

Securities registered pursuant to Section 12(b) of the Act
Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.10 par value	PES	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  x  No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	o	Accelerated filer	x
Non-accelerated filer	o	Smaller reporting company	o
Emerging Growth Company	o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No x

As of July 15, 2019, there were 79,202,216 shares of common stock, par value $0.10 per share, of the registrant outstanding.

TABLE OF CONTENTS

		Page
	PART I
Item 1.	Financial Statements and Supplementary Data	3
	Condensed Consolidated Balance Sheets	3
	Condensed Consolidated Statements of Operations	4
	Condensed Consolidated Statements of Shareholders’ Equity	5
	Condensed Consolidated Statements of Cash Flow	6
	Notes to Unaudited Condensed Consolidated Financial Statements	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	27
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	41
Item 4.	Controls and Procedures	42
	PART II
Item 1.	Legal Proceedings	43
Item 1A.	Risk Factors	43
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	44
Item 3.	Defaults Upon Senior Securities	44
Item 4.	Mine Safety Disclosures	44
Item 5.	Other Information	44
Item 6.	Exhibits	45

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

PIONEER ENERGY SERVICES CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

	June 30, 2019			December 31, 2018
	(unaudited)			(audited)
	(in thousands, except share data)
ASSETS
Current assets:
Cash and cash equivalents	$	30,132		$	53,566
Restricted cash	998			998
Receivables:
Trade, net of allowance for doubtful accounts	90,288			76,924
Unbilled receivables	24,691			24,822
Insurance recoveries	22,902			23,656
Other receivables	7,691			5,479
Inventory	22,800			18,898
Assets held for sale	5,962			3,582
Prepaid expenses and other current assets	7,061			7,109
Total current assets	212,525			215,034
Property and equipment, at cost	1,121,703			1,118,215
Less accumulated depreciation	620,860			593,357
Net property and equipment	500,843			524,858
Operating lease assets	8,775			—
Other noncurrent assets	1,526			1,658
Total assets	$	723,669		$	741,550
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	41,019		$	34,134
Deferred revenues	1,420			1,722
Accrued expenses:
Payroll and related employee costs	19,484			24,598
Insurance claims and settlements	22,637			23,593
Insurance premiums and deductibles	4,989			5,482
Interest	5,754			6,148
Other	10,697			9,091
Total current liabilities	106,000			104,768
Long-term debt, less unamortized discount and debt issuance costs	466,093			464,552
Noncurrent operating lease liabilities	6,495			—
Deferred income taxes	4,913			3,688
Other noncurrent liabilities	1,823			3,484
Total liabilities	585,324			576,492
Commitments and contingencies (Note 11)
Shareholders’ equity:
Preferred stock, 10,000,000 shares authorized; none issued and outstanding	—			—
Common stock $.10 par value; 200,000,000 shares authorized; 79,121,204 and 78,214,550 shares outstanding at June 30, 2019 and December 31, 2018, respectively	8,000			7,900
Additional paid-in capital	551,642			550,548
Treasury stock, at cost; 877,047 and 789,532 shares at June 30, 2019 and December 31, 2018, respectively	(5,090		)	(4,965		)
Accumulated deficit	(416,207		)	(388,425		)
Total shareholders’ equity	138,345			165,058
Total liabilities and shareholders’ equity	$	723,669		$	741,550

See accompanying notes to condensed consolidated financial statements.

3

PIONEER ENERGY SERVICES CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
	(in thousands, except per share data)
Revenues	$	152,843		$	154,782		$	299,411		$	299,260
Costs and expenses:
Operating costs	115,970			114,197			224,555			216,963
Depreciation	22,851			23,287			45,504			47,034
General and administrative	18,028			24,829			37,786			44,023
Bad debt recovery, net	(348		)	(370		)	(286		)	(422		)
Impairment	332			2,368			1,378			2,368
Gain on dispositions of property and equipment, net	(1,126		)	(726		)	(2,201		)	(1,061		)
Total costs and expenses	155,707			163,585			306,736			308,905
Loss from operations	(2,864		)	(8,803		)	(7,325		)	(9,645		)
Other income (expense):
Interest expense, net of interest capitalized	(10,105		)	(9,642		)	(19,990		)	(19,155		)
Other income, net	349			44			1,033			548
Total other expense, net	(9,756		)	(9,598		)	(18,957		)	(18,607		)
Loss before income taxes	(12,620		)	(18,401		)	(26,282		)	(28,252		)
Income tax (expense) benefit	(324		)	249			(1,777		)	(1,039		)
Net loss	$	(12,944	)	$	(18,152	)	$	(28,059	)	$	(29,291	)
Loss per common share - Basic	$	(0.17	)	$	(0.23	)	$	(0.36	)	$	(0.38	)
Loss per common share - Diluted	$	(0.17	)	$	(0.23	)	$	(0.36	)	$	(0.38	)
Weighted average number of shares outstanding—Basic	78,430			77,944			78,371			77,776
Weighted average number of shares outstanding—Diluted	78,430			77,944			78,371			77,776

See accompanying notes to condensed consolidated financial statements.

4

PIONEER ENERGY SERVICES CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(unaudited)

	As of and for the six months ended June 30, 2019
	Shares			Amount					Additional Paid In Capital			Accumulated Deficit			Total Shareholders’ Equity
	Common	Treasury		Common		Treasury
	(in thousands)
Balance as of December 31, 2018	79,005	(790	)	$	7,900	$	(4,965	)	$	550,548		$	(388,425	)	$	165,058
Net loss	—	—		—		—			—			(15,115		)	(15,115		)
Purchase of treasury stock	—	(84	)	—		(120		)	—			—			(120		)
Cumulative-effect adjustment due to adoption of ASC Topic 842	—	—		—		—			—			277			277
Issuance of restricted stock	326	—		33		—			(33		)	—			—
Stock-based compensation expense	—	—		—		—			867			—			867
Balance as of March 31, 2019	79,331	(874	)	$	7,933	$	(5,085	)	$	551,382		$	(403,263	)	$	150,967
Net loss	—	—		—		—			—			(12,944		)	(12,944		)
Purchase of treasury stock	—	(3	)	—		(5		)	—			—			(5		)
Issuance of restricted stock	667	—		67		—			(67		)	—			—
Stock-based compensation expense	—	—		—		—			327			—			327
Balance as of June 30, 2019	79,998	(877	)	$	8,000	$	(5,090	)	$	551,642		$	(416,207	)	$	138,345

	As of and for the six months ended June 30, 2018
	Shares			Amount					Additional Paid In Capital			Accumulated Deficit			Total Shareholders’ Equity
	Common	Treasury		Common		Treasury
	(in thousands)
Balance as of December 31, 2017	78,350	(631	)	$	7,835	$	(4,416	)	$	546,158		$	(339,481	)	$	210,096
Net loss	—	—		—		—			—			(11,139		)	(11,139		)
Purchase of treasury stock	—	(28	)	—		(96		)	—			—			(96		)
Cumulative-effect adjustment due to adoption of ASC Topic 606	—	—		—		—			—			67			67
Issuance of restricted stock	105	—		10		—			(10		)	—			—
Stock-based compensation expense	—	—		—		—			1,259			—			1,259
Balance as of March 31, 2018	78,455	(659	)	$	7,845	$	(4,512	)	$	547,407		$	(350,553	)	$	200,187
Net loss	—	—		—		—			—			(18,152		)	(18,152		)
Exercise of options	3	—		—		—			12			—			12
Purchase of treasury stock	—	(131	)	—		(453		)	—			—			(453		)
Issuance of restricted stock	547	—		55		—			(55		)	—			—
Stock-based compensation expense	—	—		—		—			1,097			—			1,097
Balance as of June 30, 2018	79,005	(790	)	$	7,900	$	(4,965	)	$	548,461		$	(368,705	)	$	182,691

See accompanying notes to condensed consolidated financial statements.

5

PIONEER ENERGY SERVICES CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

	Six months ended June 30,
	2019			2018
	(in thousands)
Cash flows from operating activities:
Net loss	$	(28,059	)	$	(29,291	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	45,504			47,034
Allowance for doubtful accounts, net of recoveries	(286		)	(422		)
Gain on dispositions of property and equipment, net	(2,201		)	(1,061		)
Stock-based compensation expense	1,194			2,356
Phantom stock compensation expense	51			6,529
Amortization of debt issuance costs and discount	1,541			1,422
Impairment	1,378			2,368
Deferred income taxes	1,225			273
Change in other noncurrent assets	1,476			(199		)
Change in other noncurrent liabilities	(2,493		)	(10,009		)
Changes in current assets and liabilities:
Receivables	(14,858		)	(12,368		)
Inventory	(3,864		)	(3,662		)
Prepaid expenses and other current assets	(108		)	(785		)
Accounts payable	10,697			5,858
Deferred revenues	(302		)	619
Accrued expenses	(6,849		)	8,463
Net cash provided by operating activities	4,046			17,125
Cash flows from investing activities:
Purchases of property and equipment	(31,382		)	(31,485		)
Proceeds from sale of property and equipment	3,439			2,225
Proceeds from insurance recoveries	588			541
Net cash used in investing activities	(27,355		)	(28,719		)
Cash flows from financing activities:
Proceeds from exercise of options	—			12
Purchase of treasury stock	(125		)	(549		)
Net cash used in financing activities	(125		)	(537		)
Net decrease in cash, cash equivalents and restricted cash	(23,434		)	(12,131		)
Beginning cash, cash equivalents and restricted cash	54,564			75,648
Ending cash, cash equivalents and restricted cash	$	31,130		$	63,517
Supplementary disclosure:
Interest paid	$	18,832		$	18,073
Income tax paid	$	2,156		$	1,789
Noncash investing and financing activity:
Change in capital expenditure accruals	$	(3,766	)	$	2,440

See accompanying notes to condensed consolidated financial statements.

6

PIONEER ENERGY SERVICES CORP. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1. Organization and Summary of Significant Accounting Policies

Business

Pioneer Energy Services Corp. provides land-based drilling services and production services to a diverse group of oil and gas exploration and production companies in the United States and internationally in Colombia.

Our drilling services business segments provide contract land drilling services through three domestic divisions which are located in the Marcellus/Utica, Permian Basin and Eagle Ford, and Bakken regions, and internationally in Colombia. We provide a comprehensive service offering which includes the drilling rig, crews, supplies and most of the ancillary equipment needed to operate our drilling rigs. Our drilling rigs are equipped with 1,500 horsepower or greater drawworks, are 100% pad-capable and offer the latest advancements in pad drilling. The following table summarizes our current rig fleet count and composition for each drilling services business segment:

	Multi-well, Pad-capable
	AC rigs	SCR rigs	Total
Domestic drilling	17	—	17
International drilling	—	8	8
			25

Our production services business segments provide a range of well, wireline and coiled tubing servicesto a diverse group of exploration and production companies, with our operations concentrated in the major domestic onshore oil and gas producing regions in the Gulf Coast, Mid-Continent and Rocky Mountain states. As of June 30, 2019, the fleet count for each of our production services business segments are as follows:

	550 HP	600 HP	Total
Well servicing rigs, by horsepower (HP) rating	113	12	125
			Total
Wireline services units			95
Coiled tubing services units			9

Basis of Presentation

The accompanyingunaudited condensed consolidatedfinancial statements include the accounts of Pioneer Energy Services Corp. and our wholly owned subsidiaries.All intercompany balances and transactions have been eliminated in consolidation.The accompanyingunaudited condensed consolidatedfinancial statements have been prepared in accordance with accounting principles generally accepted in the United States of Americafor interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of our management, all adjustments (consisting of normal, recurring accruals) necessary for a fair presentation have been included. We suggest that you read theseunaudited condensed consolidatedfinancial statements together with the consolidated financial statements and the related notes included in our annual report on Form 10-K for the year endedDecember 31, 2018.

Use of Estimates — In preparing the accompanyingunaudited condensed consolidatedfinancial statements, we make various estimates and assumptions that affect the amounts of assets and liabilities we report as of the dates of the balance sheets and income and expenses we report for the periods shown in the income statements and statements of cash flows.Our actual results could differ significantly from those estimates.Material estimates that are particularly susceptible to significant changes in the near term relate to our estimates of certain variable revenues and amortization periods of certain deferred revenues and costs associated with drilling daywork contacts, our estimates of projected cash flows and fair values for impairment evaluations, our estimate of the valuation allowance for deferred tax assets, our estimate of the liability relating to the self-insurance portion of our health and workers’ compensation insurance and our estimate of compensation related accruals.

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Subsequent Events — In preparing the accompanyingunaudited condensed consolidatedfinancial statements, we have reviewed events that have occurred afterJune 30, 2019, through the filing of thisForm 10-Q, for inclusion as necessary.

Reclassifications—Certain amounts in the unaudited condensed consolidated financial statements for the prior year periods have been reclassified to conform to the current year’s presentation.

Change in Accounting Principle and Recently Issued Accounting Standards

Changes to accounting principles generally accepted in the United States of America (“U.S. GAAP”) are established by the Financial Accounting Standards Board (FASB) in the form of Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification (ASC). We consider the applicability and impact of all ASUs. Any ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact on our consolidated financial position and results of operations.

Leases.In February 2016, the FASB issued ASU No. 2016-02, Leases, which among other things, requires lessees to recognize substantially all leases on the balance sheet, with expense recognition that is similar to the former lease standard, and aligns the principles of lessor accounting with the principles of the FASB’s new revenue guidance in ASC Topic 606. In July 2018, the FASB issued ASU No. 2018-11, Leases: Targeted Improvements, which provides an option to apply the guidance prospectively, and provides a practical expedient allowing lessors to combine the lease and non-lease components of revenues where the revenue recognition pattern is the same and where the lease component, when accounted for separately, would be considered an operating lease. The practical expedient also allows a lessor to account for the combined lease and non-lease components under ASC Topic 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined component.

As a lessor, we elected to apply the practical expedient which allows us to continue to recognize our revenues (both lease and service components) under ASC Topic 606, and continue to present them as one revenue stream in ourunaudited condensed consolidatedstatements of operations. As a lessee, this standard primarily impacts our accounting for long-term real estate and office equipment leases, for which we recognized an operating lease asset and a corresponding operating lease liability on ourunaudited condensed consolidatedbalance sheet of$9.8 millionat the adoption date of January 1, 2019. For leases that commenced prior to adoption of ASC Topic 842, we elected to apply the package of practical expedients which allows us to carry forward the historical lease classification. The adoption of ASC Topic 842 also resulted in a cumulative effect adjustment of$0.3 millionafter applicable income taxes, related to the write off of previously unamortized deferred lease liabilities at the date of adoption. For more information about the accounting under ASC Topic 842, and disclosures under the new standard, see Note3, Leases.

Additional Detail of Account Balances

Cash Equivalents and Restricted Cash — Cash equivalents at June 30, 2019 and December 31, 2018 were $11.8 million and $40.6 million, respectively, consisting of investments in highly-liquid money-market mutual funds. Our restricted cash balance reflects the portion of net proceeds from the issuance of our senior secured term loan which are currently held in a restricted account until the completion of certain administrative tasks related to providing access rights to certain of our real property.

Other Receivables — Our other receivables primarily consist of recoverable taxes related to our international operations, as well as net income and sales tax receivables.

Prepaid Expenses and Other Current Assets —Prepaid expenses and other current assets include items such as insurance, rent deposits, software subscriptions and other fees. We routinely expense these items in the normal course of business over the periods that we benefit from these expenses. Prepaid expenses and other current assets also include deferred mobilization costs for short-term drilling contracts.

Other Noncurrent Assets— Other noncurrent assets consist of deferred mobilization costs on long-term drilling contracts, cash deposits related to the deductibles on our workers’ compensation insurance policies, and deferred compensation plan investments.

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Other Accrued Expenses — Our other accrued expenses include accruals for items such as sales taxes, property taxes, withholding tax liability related to our international operations, and professional and other fees. We routinely expense these items in the normal course of business over the periods these expenses benefit. Our other accrued expenses also includes the current portion of the lease liability associated with our long-term operating leases.

Other Noncurrent Liabilities — Our other noncurrent liabilities consist of the noncurrent portion of deferred mobilization revenues and liabilities associated with our long-term compensation plans.

2.    Revenue from Contracts with Customers

Our production services business segments earn revenues for well servicing, wireline services and coiled tubing services pursuant to master services agreements based on purchase orders or other contractual arrangements with the client. Production services jobs are generally short-term (ranging in duration from several hours to less than30days) and are charged at current market rates for the labor, equipment and materials necessary to complete the job.Production services jobs are varied in nature, but typically represent a single performance obligation, either for a particular job, a series of distinct jobs, or a period of time during which we stand ready to provide services as our client needs them. Revenue is recognized for these services over time, as the services are performed.

Our drilling services business segments earn revenues by drilling oil and gas wells for our clients under daywork contracts.Daywork contracts are comprehensive agreements under which we provide a comprehensive service offering, including the drilling rig, crew, supplies and most of the ancillary equipment necessary to operate the rig.Contract modifications that extend the term of a dayrate contract are generally accounted for prospectively as a separate dayrate contract.We account for our services provided under daywork contracts as a single performance obligation comprised of a series of distinct time increments which are satisfied over time. Accordingly, dayrate revenues are recognized in the period during which the services are performed.

With most drilling contracts, we also receive payments contractually designated for the mobilization and demobilization of drilling rigs and other equipment to and from the client’s drill site. Revenues associated with the mobilization and demobilization of our drilling rigs to and from the client’s drill site do not relate to a distinct good or service and are recognized ratably over the related contract term.

The amount of demobilization revenue that we ultimately collect is dependent upon the specific contractual terms, most of which include provisions for reduced (or no) payment for demobilization when, among other things, the contract is renewed or extended with the same client, or when the rig is subsequently contracted with another client prior to the termination of the current contract. Since revenues associated with demobilization activity are typically variable, at each period end, they are estimated at the most likely amount, and constrained when the likelihood of a significant reversal is probable. Any change in the expected amount of demobilization revenue is accounted for with the net cumulative impact of the change in estimate recognized in the period during which the revenue estimate is revised.

The upfront costs that we incur to mobilize the drilling rig to our client’s initial drilling site are capitalized and recognized ratably over the term of the related contract, including any contracted renewal or extension periods, which is our estimate of the period during which we expect to benefit from the cost of mobilizing the rig. Costs associated with the final demobilization at the end of the contract term are expensed when incurred, when the demobilization activity is performed.

We also act as a principal for certain reimbursable services and auxiliary equipment provided by us to our clients, for which we incur costs and earn revenues, many of which are variable, or dependent upon the activity that is actually performed each day under the related contract. Accordingly, reimbursements that we receive for out-of-pocket expenses are recorded as revenues and the out-of-pocket expenses for which they relate are recorded as operating costs during the period to which they relate within the series of distinct time increments.

All of our revenues are recognized net of sales taxes, when applicable.

Contract Asset and Liability Balances and Contract Cost Assets

Contract asset and contract liability balances relate to demobilization and mobilization revenues, respectively. Demobilization revenue that we expect to receive is recognized ratably over the related contract term, but invoiced upon completion of the demobilization activity. Mobilization revenue, which is typically collected upon the completion of the initial mobilization activity, is deferred and recognized ratably over the related contract term. Contract asset and liability

9

balances are netted at the contract level, with the net current and noncurrent portions separately classified in ourcondensed consolidatedbalance sheets, and referred to herein as “deferred revenues.”

Contract cost assets represent the costs associated with the initial mobilization required in order to fulfill the contract, which are deferred and recognized ratably over the period during which we expect to benefit from the mobilization, or the period during which we expect to satisfy the performance obligations of the related contract. Contract cost assets are presented as either current or noncurrent, according to the duration of the original contract to which it relates, and referred to herein as “deferred costs.”

Our current and noncurrent deferred revenues and costs as ofJune 30, 2019 and December 31, 2018were as follows (amounts in thousands):

	June 30, 2019		December 31, 2018
Current deferred revenues	$	1,420	$	1,722
Current deferred costs	978		1,543
Noncurrent deferred revenues	$	313	$	437
Noncurrent deferred costs	581		679

The changes in deferred revenue and cost balances during the six months ended June 30, 2019 are primarily related to the amortization of deferred revenues and costs during the period, largely offset by increases related to the deployment of four domestic rigs and one international rig under new term contracts in 2019. Amortization of deferred revenues and costs during the three and six months ended June 30, 2019 and 2018 were as follows (amounts in thousands):

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Amortization of deferred revenues	$	1,280	$	542	$	2,235	$	1,041
Amortization of deferred costs	1,110		486		2,096		949

In February 2019, one of our domestic clients elected to early terminate their contract with us and make an upfront early termination payment based on a per day rate for the remaining term of the contract, resulting in $0.4 million of revenues associated with the 34 days that were remaining under the contract term. We subsequently placed this rig with another client. As of June 30, 2019, all but two of our 25 rigs are earning under daywork contracts, 14of which are domestic term contracts. Unlike our domestic term contracts, our international drilling contracts are cancelable by our clients without penalty, although the contracts require 15 to 30 days notice and payment for demobilization services.The spot contracts for our domestic drilling rigs are also terminable by our client with30days notice, but typically do not include a required payment for demobilization services.

3.     Leases

As a drilling and production services provider, we provide the drilling rigs and production services equipment which are necessary to fulfill our performance obligations and which are considered leases under ASU No. 2016-02, Leases, (together with its amendments, herein referred to as “ASC Topic 842”). However, ASU No. 2018-11, Leases: Targeted Improvements, allows lessors to (i) combine the lease and non-lease components of revenues when the revenue recognition pattern is the same and when the lease component, when accounted for separately, would be considered an operating lease, and (ii) account for the combined lease and non-lease components under ASC Topic 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined component. We elected to apply this expedient and therefore continue to recognize our revenues (both lease and service components) under ASC Topic 606, and continue to present them as one revenue stream in our unaudited condensed consolidated statements of operations.

As a lessee, we lease our corporate office headquarters in San Antonio, Texas, and we conduct our business operations through27 other regional offices located throughout the United States and internationally in Colombia. These operating locations typically includeregional offices, storage and maintenance yards and employee housing sufficient to support our operations in the area. We lease most of these properties under non-cancelable term and month-to-month operating leases, many of which contain renewal options that can extend the lease term from one to five years and some of which contain escalation clauses. We also lease supplemental equipment, typically under cancelable short-term and very short term (less than 30 days) leases. Due to the nature of our business, any option to renew these short-term leases, and the options to extend certain of our long-term real estate leases, are generally not considered reasonably certain to be exercised. Therefore,

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the periods covered by such optional periods are not included in the determination of the term of the lease, and the lease payments during these periods are similarly excluded from the calculation of operating lease asset and lease liability balances.

In accordance with ASC Topic 842, we recognize an operating lease asset and a corresponding operating lease liability for all our long-term leases, which include real estate and office equipment leases, for which we elected to combine, or not separate, the lease and non-lease components, and therefore, all fixed charges associated with non-lease components are included in the lease payments and the calculation of the operating lease asset and associated lease liability. The operating lease asset and operating lease liability are discounted at the rate which represents our secured incremental borrowing rate, as most of our leases do not provide an implicit rate, and which we estimate based on the rate in effect under our asset-based lending facility.

We recognize rent expense on a straight-line basis, except for certain variable expenses which are recognized when the variability is resolved, typically during the period in which they are paid. Variable lease payments typically include charges for property taxes and insurance, and some leases contain variable payments related to non-lease components, including common area maintenance and usage of office equipment (for example, copiers), which totaled approximately $0.3 million and $0.6 million during the three and six months ended June 30, 2019. The following table summarizes our lease expense recognized for the three and six months ending June 30, 2019, excluding variable lease costs (amounts in thousands):

	Three months ended June 30,		Six months ended June 30,
	2019		2019
Long-term operating lease expense	$	829	$	1,671
Short-term operating lease expense	$	4,333	$	7,736

The following table summarizes the amount and timing of our obligations associated with our long-term operating leases (amounts in thousands):

	June 30, 2019			December 31, 2018
Within 1 year	$	2,659		$	3,318
In the second year	1,964			2,032
In the third year	1,658			1,721
In the fourth year	1,358			1,407
In the fifth year	905			1,110
Thereafter	1,268			1,738
Total undiscounted lease obligations	$	9,812		$	11,326
Impact of discounting	(995		)
Discounted value of operating lease obligations	$	8,817
Current operating lease liabilities	$	2,322
Noncurrent operating lease liabilities	6,495
	$	8,817

The following table summarizes the weighted-average remaining lease term and discount rate associated with our long-term operating leases:

	June 30, 2019
Weighted-average remaining lease term (in years)	4.8
Weighted-average discount rate	4.5	%

4.    Property and Equipment

Capital Expenditures — Our capital expenditures were $27.6 million and $33.9 million during the six months ended June 30, 2019 and 2018, respectively. Capital expenditures during the six months ended June 30, 2019 primarily related to various upgrades and refurbishments of our drilling and production services fleets, various vehicle and ancillary equipment purchases, and the completion of construction on our 17^th AC drilling rig which we deployed in March. Capital expenditures during the six months ended June 30, 2018 primarily related to various routine expenditures to maintain our fleets and purchase new support equipment, as well as the expansion of our wireline and coiled tubing fleets, vehicle fleet upgrades

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in all business segments, and capital projects to upgrade and refurbish certain of our international and domestic drilling rigs.

At June 30, 2019, capital expenditures incurred for property and equipment not yet placed in service was $6.0 million, primarily related to support equipment for our coiled tubing and drilling rig services fleets and capital projects to upgrade and refurbish certain components of our drilling rig fleet. At December 31, 2018, property and equipment not yet placed in service was $19.6 million, primarily related to approximately $8.0 million of costs for the construction of a new-build drilling rig, various refurbishments and upgrades of drilling and production services equipment, and the purchase of other new ancillary equipment.

Gain/Loss on Disposition of Property — During the six months ended June 30, 2019, we recognized a net gain of $2.2 million on the disposition of drill pipe and various other property and equipment, including some assets which were previously held for sale, as well as insurance proceeds received for damaged equipment. During the six months ended June 30, 2018, we recognized a net gain of $1.1 million on the disposition of various property and equipment, including the sale of six wireline units and one drilling rig, which was previously held for sale.

Assets Held for Sale — As of June 30, 2019, ourcondensed consolidatedbalance sheet reflects assets held for sale of $6.0 million, which includes the fair value of onedomestic SCR drilling rig, two coiled tubing units, 12 wireline units, spare support equipment, and buildings and yards for two closed wireline locations, both of which were designated as held for sale in the second quarter of 2019.As of December 31, 2018, ourcondensed consolidatedbalance sheet reflects assets held for sale of $3.6 million, which primarily represents the fair value of one domestic SCR drilling rig and related spare equipment and three coiled tubing units.

During thesix months ended June 30, 2019 and 2018, we recognized impairment charges of $1.4 million and $2.4 millionto reduce the carrying values of assets which were classified as held for sale, to their estimated fair values, based on expected sales prices which are classified as Level 3 inputs as defined by ASC Topic 820, Fair Value Measurements and Disclosures.

Impairments — In accordance with ASC Topic 360, Property, Plant and Equipment, we monitor all indicators of potential impairments, andconcluded there are no triggers present that require impairment testing as ofJune 30, 2019, other than the placement of certain assets as held for sale.

We evaluate for potential impairment of long-lived assets when indicators of impairment are present, which may include, among other things, significant adverse changes in industry trends (including revenue rates, utilization rates, oil and natural gas market prices, and industry rig counts).In performing an impairment evaluation, we estimate the future undiscounted net cash flows from the use and eventual disposition of the assets grouped at the lowest level that independent cash flows can be identified. We perform an impairment evaluation and estimate future undiscounted cash flows for each of our reporting units separately, which are our domestic drilling services, international drilling services, well servicing, wireline services and coiled tubing services segments.If the sum of the estimated future undiscounted net cash flows is less than the carrying amount of the asset group, then we determine the fair value of the asset group, and the amount of an impairment charge would be measured as the difference between the carrying amount and the fair value of the assets.

The most significant inputs used in our impairment analysis include the projected utilization and pricing of our services, as well as the estimated proceeds upon any future sale or disposal of the assets, all of which are classified as Level 3 inputs as defined by ASC Topic 820, Fair Value Measurements and Disclosures.The assumptions we use in the evaluation for impairment are inherently uncertain and require management judgment.Although we believe the assumptions and estimates used in our impairment analysis are reasonable, different assumptions and estimates could materially impact the analysis and resulting conclusions.

5. Valuation Allowances on Deferred Tax Assets

Our deferred tax assets related to net operating losses, which are available to reduce future taxable income, consist of the following (amounts in thousands):

	June 30, 2019		December 31, 2018
Domestic net operating loss carryforward	$	100,110	$	96,777
Foreign net operating loss carryforward	8,083		9,582

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The majority of our domestic net operating losses will begin to expire in 2030, while losses generated after 2017 are carried forward indefinitely but are limited in usage to 80% of taxable income. The majority of our foreign net operating losses are carried forward indefinitely, but losses generated after 2016 are carried forward for 12 years and will begin to expire in 2029.

We provide a valuation allowance when it is more likely than not that some portion of the deferred tax assets will not be realized.As result, as ofJune 30, 2019 and December 31, 2018, we had valuation allowances of $67.2 million and $62.6 million that offset a portion of our domestic and foreign net deferred tax assets.

Since 2017, market conditions and operating results for our Colombian operations have improved, and if they continue to improve, then we may determine that there is sufficient evidence that future taxable income will be generated to utilize our foreign deferred tax assets which would result in the reversal of the valuation allowance relating to our foreign deferred tax assets.

6.     Debt

Our debt consists of the following (amounts in thousands):

	June 30, 2019			December 31, 2018
Senior secured term loan	$	175,000		$	175,000
Senior notes	300,000			300,000
	475,000			475,000
Less unamortized discount (based on imputed interest rate of 10.46%)	(2,278		)	(2,668		)
Less unamortized debt issuance costs	(6,629		)	(7,780		)
	$	466,093		$	464,552

Senior Secured Term Loan

Our senior secured term loan (the “Term Loan”) entered into on November 8, 2017 provided for one drawing in the amount of $175 million, net of a 2% original issue discount.Proceeds from the issuance of the Term Loan were used to repay the entire outstanding balance under our previous credit facility, plus fees and accrued and unpaid interest, as well as the fees and expenses associated with entering into the Term Loan and ABL Facility, which is further described below.The remainder of the proceeds are available to be used for other general corporate purposes.

The Term Loan is not subject to amortization payments of principal. Interest on the principal amount accrues at the LIBOR rate or the base rate as defined in the agreement, at our option, plus an applicable margin of 7.75% and 6.75%, respectively. The Term Loan is set to mature on November 8, 2022, or earlier, subject to certain circumstances as described in the agreement, and including an earlier maturity date if the outstanding balance of the Senior Notes exceeds $15.0 million on December 14, 2021, at which time the Term Loan would then mature. However, the Term Loan may be prepaid, at our option, at any time, in whole or in part, subject to a minimum of $5 million, and subject to a declining call premium as defined in the agreement.

The Term Loan contains a financial covenant requiring the ratio of (i) the net orderly liquidation value of our fixed assets (based on appraisals obtained as required by our lenders), on a consolidated basis, in which the lenders under the Term Loan maintain a first priority security interest, plus proceeds of asset dispositions not required to be used to effect a prepayment of the Term Loan to (ii) the outstanding principal amount of the Term Loan, to be at least equal to 1.50 to 1.00 as of any June 30 or December 31 of any calendar year through maturity.

The Term Loan contains customary mandatory prepayments from the proceeds of certain transactions including certain asset dispositions and debt issuances, and has additional customary restrictions that, among other things, and subject to certain exceptions, limit our ability to:

• incur additional debt;

• incur or permit liens on assets;

• make investments and acquisitions;

• consolidate or merge with another company;

• engage in asset sales; and

• pay dividends or make distributions.

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In addition, the Term Loan contains customary events of default, upon the occurrence and during the continuation of any of which the applicable margin would increase by 2% per year, including without limitation:

• payment defaults;

• covenant defaults;

• material breaches of representations or warranties;

• event of default under, or acceleration of, other material indebtedness;

• bankruptcy or insolvency;

• material judgments against us;

• failure of any security document supporting the Term Loan; and

• change of control.

Our obligations under the Term Loan are guaranteed by our wholly-owned domestic subsidiaries, and are secured by substantially all of our domestic assets, in each case, subject to certain exceptions and permitted liens.

Asset-based Lending Facility

In addition to entering into the Term Loan, on November 8, 2017, we also entered into a senior secured revolving asset-based credit facility (the “ABL Facility”) providing for borrowings in the aggregate principal amount of up to $75 million, subject to a borrowing base and including a $30 million sub-limit for letters of credit. The ABL Facility bears interest, at our option, at the LIBOR rate or the base rate as defined in the ABL Facility, plus an applicable margin ranging from 1.75% to 3.25%, based on average availability on the ABL Facility.The ABL Facility requires a commitment fee due monthly based on the average monthly unused amount of the commitments of the lenders, a fronting fee due for each letter of credit issued, and a monthly letter of credit fee due based on the average undrawn amount of letters of credit outstanding during such period.The ABL Facility is generally set to mature 90 days prior to the maturity of the Term Loan, subject to certain circumstances, including the future repayment, extinguishment or refinancing of our Term Loan and/or Senior Notes prior to their respective maturity dates. Availability under the ABL Facility is determined by reference to a borrowing base as defined in the agreement, generally comprised of a percentage of our accounts receivable and inventory.

We have not drawn upon the ABL Facilityto date. As ofJune 30, 2019, we had $9.7 million in committed letters of credit, which, after borrowing base limitations, resulted in borrowing availability of $59.8 million. Borrowings available under the ABL Facility are available for general corporate purposes, and there are no limitations on our ability to access the borrowing capacity provided there is no default and compliance with the covenants under the ABL Facility is maintained.Additionally, if our availability under the ABL Facility is less than 15% of the maximum amount (or$11.25 million), we are required to maintain a minimum fixed charge coverage ratio, as defined in the ABL Facility, of at least 1.00 to 1.00, measured on a trailing 12 month basis.

The ABL Facility also contains customary restrictive covenants which, subject to certain exceptions, limit, among other things, our ability to:

• declare dividends and make other distributions;

• issue or sell certain equity interests;

• optionally prepay, redeem or repurchase certain of our subordinated indebtedness;

• make loans or investments (including acquisitions);

• incur additional indebtedness or modify the terms of permitted indebtedness;

• grant liens;

• change our business or the business of our subsidiaries;

• merge, consolidate, reorganize, recapitalize, or reclassify our equity interests;

• sell our assets, and

• enter into certain types of transactions with affiliates.

Our obligations under the ABL Facility are guaranteed by us and our domestic subsidiaries, subject to certain exceptions, and are secured by (i) a first-priority perfected security interest in all inventory and cash, and (ii) a second-priority perfected security in substantially all of our tangible and intangible assets, in each case, subject to certain exceptions and permitted liens.

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Senior Notes

In 2014, we issued $300 million of unregistered senior notes at face value, with a coupon interest rate of 6.125% that are due in 2022 (the “Senior Notes”). The Senior Notes will mature on March 15, 2022 with interest due semi-annually in arrears on March 15 and September 15 of each year. We have the option to redeem the Senior Notes, in whole or in part, in each case at the redemption price specified in the Indenture dated March 18, 2014 (the “Indenture”) plus any accrued and unpaid interest and any additional interest (as defined in the Indenture) thereon to the date of redemption.

In accordance with a registration rights agreement with the holders of our Senior Notes, we filed an exchange offer registration statement on Form S-4 with the Securities and Exchange Commission that became effective on October 2, 2014. The exchange offer registration statement enabled the holders of our Senior Notes to exchange their senior notes for publicly registered notes with substantially identical terms. References to the “Senior Notes” herein include the senior notes issued in the exchange offer.

If we experience a change of control (as defined in the Indenture), we will be required to make an offer to each holder of the Senior Notes to repurchase all or any part of the Senior Notes at a purchase price equal to101%of the principal amount of each Senior Note, plus accrued and unpaid interest, if any, to the date of repurchase. If we engage in certain asset sales, within 365 days of such sale we will be required to use the net cash proceeds from such sale, to the extent we do not reinvest those proceeds in our business, to make an offer to repurchase the Senior Notes at a price equal to100%of the principal amount of each Senior Note, plus accrued and unpaid interest to the repurchase date.

The Indenture, among other things, limits us and certain of our subsidiaries, subject to certain exceptions, in our ability to:

• pay dividends on stock, repurchase stock, redeem subordinated indebtedness or make other restricted payments and investments;

• incur, assume or guarantee additional indebtedness or issue preferred or disqualified stock;

• create liens on our or their assets;

• enter into sale and leaseback transactions;

• sell or transfer assets;

• borrow, pay dividends, or transfer other assets from certain of our subsidiaries;

• consolidate with or merge with or into, or sell all or substantially all of our properties to any other person;

• enter into transactions with affiliates; and

• enter into new lines of business.

The Senior Notes are not subject to any sinking fund requirements. The Senior Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by certain of our existing domestic subsidiaries and by certain of our future domestic subsidiaries. (See Note 12, Guarantor/Non-Guarantor Condensed Consolidated Financial Statements.)

Debt Issuance Costs and Original Issue Discount

Costs incurred in connection with the issuance of our Senior Notes were capitalized and are being amortized using the effective interest method over the term of the Senior Notes which mature in March 2022. The original issue discount and costs incurred in connection with the issuance of the Term Loan were capitalized and are being amortized using the effective interest method over the expected term of the agreement. Costs incurred in connection with the ABL Facility were capitalized and are being amortized using the straight-line method over the expected term of the agreement.

7. Fair Value of Financial Instruments

The FASB’s Accounting Standards Codification (ASC) Topic 820, Fair Value Measurements and Disclosures, defines fair value and provides a hierarchal framework associated with the level of subjectivity used in measuring assets and liabilities at fair value. Our financial instruments consist primarily of cash and cash equivalents, trade and other receivables, trade payables, phantom stock unit awards and long-term debt.

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The carrying value of cash and cash equivalents, trade and other receivables, and trade payables are considered to be representative of their respective fair values due to the short-term nature of these instruments. At June 30, 2019 and December 31, 2018, the aggregate estimated fair value of our phantom stock unit awards was $0.8 million and $5.1 million, respectively, for which the vested portion recognized as a liability in our condensed consolidated balance sheets was $0.2 million and $3.6 million, respectively. The phantom stock unit awards, and the measurement of fair value for these awards, are described in more detail in Note 9, Stock-Based Compensation Plans.

The fair value of our Senior Notes is estimated based on recent observable market prices for our debt instruments, which are defined by ASC Topic 820 as Level 2 inputs. The fair value of our Term Loan is based on estimated market pricing for our debt instrument, which is defined by ASC Topic 820 as using Level 3 inputs which are unobservable and therefore more likely to be affected by changes in assumptions. The following table presents supplemental fair value information and carrying value for our debt, net of discount and debt issuance costs (amounts in thousands):

		June 30, 2019				December 31, 2018
	Hierarchy Level	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Senior notes	2	$	297,411	$	141,000	$	296,988	$	186,750
Senior secured term loan	3	168,682		$	166,250	167,564		175,875
		$	466,093	$	307,250	$	464,552	$	362,625

8. Earnings (Loss) Per Common Share

The following table presents a reconciliation of the numerators and denominators of the basic earnings per share and diluted earnings per share computations (amounts in thousands, except per share data):

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Numerator (both basic and diluted):
Net loss	$	(12,944	)	$	(18,152	)	$	(28,059	)	$	(29,291	)
Denominator:
Weighted-average shares (denominator for basic earnings (loss) per share)	78,430			77,944			78,371			77,776
Dilutive effect of outstanding stock options, restricted stock and restricted stock unit awards	—			—			—			—
Denominator for diluted earnings (loss) per share	78,430			77,944			78,371			77,776
Loss per common share - Basic	$	(0.17	)	$	(0.23	)	$	(0.36	)	$	(0.38	)
Loss per common share - Diluted	$	(0.17	)	$	(0.23	)	$	(0.36	)	$	(0.38	)
Potentially dilutive securities excluded as anti-dilutive	4,858			4,055			3,709			5,015

9. Stock-Based Compensation Plans

We grant stock option and restricted stock awards with vesting based on time of service conditions. We grant restricted stock unit awards with vesting based on time of service conditions, and in certain cases, subject to performance and market conditions. We grant phantom stock unit awards with vesting based on time of service, performance and market conditions, which are classified as liability awards under ASC Topic 718, Compensation—Stock Compensation since we expect to settle the awards in cash when they become vested.

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We recognize compensation cost for our stock-based compensation awards based on the fair value estimated in accordance with ASC Topic 718, Compensation—Stock Compensation, and we recognize forfeitures when they occur.For our awards with graded vesting, we recognize compensation expense on a straight-line basis over the service period for each separately vesting portion of the award as if the award was, in substance, multiple awards.The following table summarizes the stock-based compensation expense recognized, by award type, and the compensation expense (benefit) recognized for phantom stock unit awards during thethree and six months ended June 30, 2019 and 2018 (amounts in thousands):

	Three months ended June 30,					Six months ended June 30,
	2019			2018		2019		2018
Stock option awards	$	23		$	99	$	74	$	241
Restricted stock awards	121			115		235		228
Restricted stock unit awards	183			883		885		1,887
	$	327		$	1,097	$	1,194	$	2,356
Phantom stock unit awards	$	(797	)	$	6,099	$	51	$	6,529

Stock Option Awards

We grant stock option awards which generally become exercisable over athree-year period and expire tenyears after the date of grant. Our stock-based compensation plans require that all stock option awards have an exercise price that is not less than the fair market value of our common stock on the date of grant. We issue shares of our common stock when vested stock option awards are exercised. We estimate the fair value of each option grant on the date of grant using a Black-Scholes option pricing model. We did not grant any stock option awards during the six months ended June 30, 2019 or 2018.

Restricted Stock and Restricted Stock Unit Awards

We grant restricted stock awards that vest over aone-year period with a fair value based on the closing price of our common stock on the date of the grant.When restricted stock awards are granted, or when restricted stock unit awards are converted to restricted stock, shares of our common stock are considered issued, but subject to certain restrictions.

We grant restricted stock unit awards with vesting based on time of service conditions only (“time-based RSUs”), and we grant restricted stock unit awards with vesting based on time of service, which are also subject to performance and market conditions (“performance-based RSUs”). Shares of our common stock are issued to recipients of restricted stock units only when they have satisfied the applicable vesting conditions.

There were no performance-based restricted stock unit awards granted during the six months ended June 30, 2019 or 2018. The following table summarizes the number and weighted-average grant-date fair value of the restricted stock and time-based restricted stock unit awards granted during the three and six months ended June 30, 2019 and 2018:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Restricted Stock:
Restricted stock awards granted	648,100		78,632		648,100		78,632
Weighted-average grant-date fair value (per share)	$	0.79	$	5.85	$	0.79	$	5.85
Time-based RSUs:
Time-based RSUs granted	—		—		870,648		788,377
Weighted-average grant-date fair value (per unit)	$	—	$	—	$	1.38	$	3.85

Our time-based RSUs generally vest over athree-year period, with fair values based on the closing price of our common stock on the date of grant.Our performance-based RSUs cliff vest at 39months from the date of grant and are granted at a target number of issuable shares, for which the final number of shares of common stock is adjusted based on our actual achievement levels that are measured against predetermined performance conditions. The number of shares of common stock awarded will be based upon the Company’s achievement in certain performance conditions, as compared to a predefined peer group, over the performance period, generallythree years.As ofJune 30, 2019, we estimate that the achievement level for our outstanding performance-based RSUs granted in 2017 will be approximately80%of the predetermined performance conditions.

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Phantom Stock Unit Awards

We grant phantom stock unit awards with vesting based on time of service, performance and market conditions.Time-based phantom stock unit awards, which were granted in 2019, vest annually in thirds over a three-year vesting period. Performance-based phantom stock unit awards, which were granted in 2016, 2018 and 2019, cliff-vest after39months from the date of grant, with vesting based on time of service, performance and market conditions.The number of performance-based units ultimately awarded will be based upon the Company’s achievement in certain performance conditions, as compared to a predefined peer group, over the respectivethree-year performance periods. Each unit awarded will entitle the employee to a cash payment equal to the stock price of our common stock on the date of vesting, subject to an applicable maximum payout feature that is based on a multiple of the grant date stock price.

The fair value of time-based phantom stock unit awards is measured using a Black-Scholes pricing model and the fair value of performance-based phantom stock unit awards is measured using a Monte Carlo simulation model, with inputs that are defined as Level 3 inputs under ASC Topic 820, Fair Value Measurements and Disclosures.

There were no phantom stock unit awards granted during the three months ended June 30, 2019 or 2018. The following table summarizes the number, weighted-average grant-date fair value, and applicable maximum cash value of the phantom stock unit awards granted during the six months ended June 30, 2019 and 2018:

	Six months ended June 30,
	2019		2018
Performance-based:
Phantom stock unit awards granted	2,467,776		1,188,216
Weighted-average grant-date fair value (per unit)	$	1.10	$	3.06
Maximum cash value per unit (three times the grant date stock price)	$	4.62	$	9.66
Time-based:
Phantom stock unit awards granted	810,648		—
Weighted-average grant-date fair value (per unit)	$	1.17	$	—
Maximum cash value per unit (three times the grant date stock price)	$	4.62	$	—

These awards are classified as liability awards under ASC Topic 718, Compensation—Stock Compensation, because we expect to settle the awards in cash when they vest, and are remeasured at fair value at the end of each reporting period until they vest. The change in fair value is recognized as a current period compensation expense in our condensed consolidated statements of operations.Therefore, changes in the inputs used to measure fair value can result in volatility in our compensation expense. This volatility increases as the phantom stock awards approach the vesting date.We estimate that a hypothetical increase of$1in the market price of our common stock, which was$0.25 as of June 30, 2019, if all other inputs were unchanged, would result in an increase in cumulative compensation expense of$1.0 million, which represents the hypothetical increase in fair value of the liability for the 2018 and 2019 phantom stock unit awards. The maximum payout feature of these awards would limit this volatility if the stock price exceeds the maximum payout threshold. As of June 30, 2019, we estimate the weighted-average achievement level for our outstanding phantom stock unit awards granted in 2018 and 2019 to be100%.

In April 2019, we determined that175%of the target number of phantom stock unit awards granted during 2016 were earned based on the Company’s achievement of the performance measures, as compared to the predefined peer group, which resulted in an aggregate cash payment of $3.5 millionto settle these awards.

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10. Segment Information

We have five operating segments, comprised of two drilling services business segments (domestic and international drilling) and three production services business segments (well servicing, wireline services and coiled tubing services), which reflects the basis used by management in making decisions regarding our business for resource allocation and performance assessment, as required by ASC Topic 280, Segment Reporting.

Our domestic and international drilling services segments provide contract land drilling services to a diverse group of exploration and production companies through our three drilling divisions in the US and internationally in Colombia.We provide a comprehensive service offering which includes the drilling rig, crews, supplies and most of the ancillary equipment needed to operate our drilling rigs.

Our well servicing, wireline services and coiled tubing services segments provide a range of production services to a diverse group of exploration and production companies, with our operations concentrated in the major domestic onshore oil and gas producing regions in the Gulf Coast, Mid-Continent and Rocky Mountain states.

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The following tables set forth certain financial information for each of our segments and corporate (amounts in thousands):

	As of and for the three months ended June 30,				As of and for the six months ended June 30,
	2019		2018		2019		2018
Revenues:
Domestic drilling	$	39,652	$	35,634	$	77,661	$	71,560
International drilling	25,422		21,773		47,065		39,384
Drilling services	65,074		57,407		124,726		110,944
Well servicing	29,506		23,162		55,760		44,276
Wireline services	47,386		62,137		93,260		118,738
Coiled tubing services	10,877		12,076		25,665		25,302
Production services	87,769		97,375		174,685		188,316
Consolidated revenues	$	152,843	$	154,782	$	299,411	$	299,260
Operating costs:
Domestic drilling	$	24,698	$	21,749	$	47,167	$	42,647
International drilling	18,555		17,064		35,040		30,025
Drilling services	43,253		38,813		82,207		72,672
Well servicing	21,038		16,680		39,934		32,250
Wireline services	41,804		46,716		81,151		89,202
Coiled tubing services	9,875		11,988		21,263		22,839
Production services	72,717		75,384		142,348		144,291
Consolidated operating costs	$	115,970	$	114,197	$	224,555	$	216,963
Gross margin:
Domestic drilling	$	14,954	$	13,885	$	30,494	$	28,913
International drilling	6,867		4,709		12,025		9,359
Drilling services	21,821		18,594		42,519		38,272
Well servicing	8,468		6,482		15,826		12,026
Wireline services	5,582		15,421		12,109		29,536
Coiled tubing services	1,002		88		4,402		2,463
Production services	15,052		21,991		32,337		44,025
Consolidated gross margin	$	36,873	$	40,585	$	74,856	$	82,297
Identifiable Assets:
Domestic drilling (1)	$	365,477	$	380,355	$	365,477	$	380,355
International drilling (1) (2)	47,158		42,457		47,158		42,457
Drilling services	412,635		422,812		412,635		422,812
Well servicing	121,180		124,458		121,180		124,458
Wireline services	94,413		99,243		94,413		99,243
Coiled tubing services	37,292		31,889		37,292		31,889
Production services	252,885		255,590		252,885		255,590
Corporate	58,149		78,642		58,149		78,642
Consolidated identifiable assets	$	723,669	$	757,044	$	723,669	$	757,044
Depreciation:
Domestic drilling	$	10,888	$	10,139	$	21,433	$	20,588
International drilling	1,373		1,301		2,716		2,748
Drilling services	12,261		11,440		24,149		23,336
Well servicing	4,942		4,865		9,824		9,785
Wireline services	3,907		4,601		7,982		9,209
Coiled tubing services	1,531		2,114		3,059		4,146
Production services	10,380		11,580		20,865		23,140
Corporate	210		267		490		558
Consolidated depreciation	$	22,851	$	23,287	$	45,504	$	47,034

20

	As of and for the three months ended June 30,				As of and for the six months ended June 30,
	2019		2018		2019		2018
Capital Expenditures:
Domestic drilling	$	3,325	$	4,736	$	11,567	$	7,494
International drilling	524		1,213		2,282		3,913
Drilling services	3,849		5,949		13,849		11,407
Well servicing	2,141		3,403		6,036		5,452
Wireline services	1,588		4,917		4,423		8,590
Coiled tubing services	1,287		4,817		2,811		7,981
Production services	5,016		13,137		13,270		22,023
Corporate	376		251		497		495
Consolidated capital expenditures	$	9,241	$	19,337	$	27,616	$	33,925

(1) Identifiable assets for our drilling segments include the impact of a $38.6 million and $35.1 million intercompany balance, as of June 30, 2019 and 2018, respectively, between our domestic drilling segment (intercompany receivable) and our international drilling segment (intercompany payable).

(2) Identifiable assets for our international drilling segment include five drilling rigs that are owned by our Colombia subsidiary and three drilling rigs that are owned by one of our domestic subsidiaries and leased to our Colombia subsidiary.

The following table reconciles theconsolidated gross margin of our segments reported above to loss from operations as reported on the condensed consolidated statements of operations (amounts in thousands):

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Consolidated gross margin	$	36,873		$	40,585		$	74,856		$	82,297
Depreciation	(22,851		)	(23,287		)	(45,504		)	(47,034		)
General and administrative	(18,028		)	(24,829		)	(37,786		)	(44,023		)
Bad debt recovery, net	348			370			286			422
Impairment	(332		)	(2,368		)	(1,378		)	(2,368		)
Gain on dispositions of property and equipment, net	1,126			726			2,201			1,061
Loss from operations	$	(2,864	)	$	(8,803	)	$	(7,325	)	$	(9,645	)

11. Commitments and Contingencies

In connection with our operations in Colombia, our foreign subsidiaries routinely obtain bonds for bidding on drilling contracts, performing under drilling contracts, and remitting customs and importation duties. We have guaranteed payments of $63.0 million relating to our performance under these bonds as of June 30, 2019. Based on historical experience and information currently available, we believe the likelihood of demand for payment under these bonds and guarantees is remote.

We are currently undergoing sales and use tax audits for multi-year periods.As ofJune 30, 2019 and December 31, 2018, our accrued liability was$1.8 million and $1.7 million, respectively, based on our estimate of the sales and use tax obligations that are expected to result from these audits. Due to the inherent uncertainty of the audit process, we believe that it is reasonably possible that we may incur additional tax assessments with respect to one or more of the audits in excess of the amount accrued. We believe that such an outcome would not have a material adverse effect on our results of operations or financial position. Because certain of these audits are in a preliminary stage, an estimate of the possible loss or range of loss from an adverse result in all or substantially all of these cases cannot reasonably be made.

Due to the nature of our business, we are, from time to time, involved in litigation or subject to disputes or claims related to our business activities, including workers’ compensation claims and employment-related disputes. Legal costs relating to these matters are expensed as incurred. In the opinion of our management, none of the pending litigation, disputes or claims against us will have a material adverse effect on our financial condition, results of operations or cash flow from operations.

21

12. Guarantor/Non-Guarantor Condensed Consolidating Financial Statements

Our Senior Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by all existing 100% owned domestic subsidiaries, except for Pioneer Services Holdings, LLC. The subsidiaries that generally operate our non-U.S. business concentrated in Colombia do not guarantee our Senior Notes. The non-guarantor subsidiaries do not have any payment obligations under the Senior Notes, the guarantees or the Indenture.

In the event of a bankruptcy, liquidation or reorganization of any non-guarantor subsidiary, such non-guarantor subsidiary will pay the holders of its debt and other liabilities, including its trade creditors, before it will be able to distribute any of its assets to us. In the future, any non-U.S. subsidiaries, immaterial subsidiaries and subsidiaries that we designate as unrestricted subsidiaries under the Indenture will not guarantee the Senior Notes. As of June 30, 2019, there were no restrictions on the ability of subsidiary guarantors to transfer funds to the parent company.

As a result of the guarantee arrangements, we are presenting the following condensed consolidating balance sheets, statements of operations and statements of cash flows of the issuer, the guarantor subsidiaries and the non-guarantor subsidiaries.

22

CONDENSED CONSOLIDATING BALANCE SHEETS

(unaudited, in thousands)

	June 30, 2019
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	25,591		$	—	$	4,541		$	—		$	30,132
Restricted cash	998			—		—			—			998
Receivables, net of allowance	169			108,747		36,088			568			145,572
Intercompany receivable (payable)	(27,363		)	65,708		(38,345		)	—			—
Inventory	—			11,784		11,016			—			22,800
Assets held for sale	—			5,962		—			—			5,962
Prepaid expenses and other current assets	2,301			3,591		1,169			—			7,061
Total current assets	1,696			195,792		14,469			568			212,525
Net property and equipment	2,029			471,153		27,661			—			500,843
Investment in subsidiaries	570,070			31,020		—			(601,090		)	—
Deferred income taxes	43,490			—		—			(43,490		)	—
Operating lease assets	3,353			4,779		643			—			8,775
Other noncurrent assets	616			485		425			—			1,526
Total assets	$	621,254		$	703,229	$	43,198		$	(644,012	)	$	723,669
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	2,798		$	32,324	$	5,897		$	—		$	41,019
Deferred revenues	—			528		892			—			1,420
Accrued expenses	10,266			48,063		4,664			568			63,561
Total current liabilities	13,064			80,915		11,453			568			106,000
Long-term debt, less unamortized discount and debt issuance costs	466,093			—		—			—			466,093
Noncurrent operating lease liabilities	2,968			3,034		493			—			6,495
Deferred income taxes	—			48,403		—			(43,490		)	4,913
Other noncurrent liabilities	784			807		232			—			1,823
Total liabilities	482,909			133,159		12,178			(42,922		)	585,324
Total shareholders’ equity	138,345			570,070		31,020			(601,090		)	138,345
Total liabilities and shareholders’ equity	$	621,254		$	703,229	$	43,198		$	(644,012	)	$	723,669
	December 31, 2018
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	50,350		$	—	$	3,216		$	—		$	53,566
Restricted cash	998			—		—			—			998
Receivables, net of allowance	436			95,030		35,219			196			130,881
Intercompany receivable (payable)	(27,245		)	67,098		(39,853		)	—			—
Inventory	—			9,945		8,953			—			18,898
Assets held for sale	—			3,582		—			—			3,582
Prepaid expenses and other current assets	1,743			3,197		2,169			—			7,109
Total current assets	26,282			178,852		9,704			196			215,034
Net property and equipment	2,022			494,376		28,460			—			524,858
Investment in subsidiaries	574,695			25,370		—			(600,065		)	—
Deferred income taxes	42,585			—		—			(42,585		)	—
Other noncurrent assets	596			511		551			—			1,658
Total assets	$	646,180		$	699,109	$	38,715		$	(642,454	)	$	741,550
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1,093		$	26,795	$	6,246		$	—		$	34,134
Deferred revenues	—			95		1,627			—			1,722
Accrued expenses	14,020			49,640		5,056			196			68,912
Total current liabilities	15,113			76,530		12,929			196			104,768
Long-term debt, less unamortized discount and debt issuance costs	464,552			—		—			—			464,552
Deferred income taxes	—			46,273		—			(42,585		)	3,688
Other noncurrent liabilities	1,457			1,611		416			—			3,484
Total liabilities	481,122			124,414		13,345			(42,389		)	576,492
Total shareholders’ equity	165,058			574,695		25,370			(600,065		)	165,058
Total liabilities and shareholders’ equity	$	646,180		$	699,109	$	38,715		$	(642,454	)	$	741,550

23

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in thousands)

	Three months ended June 30, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	127,421		$	25,422		$	—		$	152,843
Costs and expenses:
Operating costs	—			97,417			18,553			—			115,970
Depreciation and amortization	210			21,268			1,373			—			22,851
General and administrative	6,907			10,579			677			(135		)	18,028
Intercompany leasing	—			(1,215		)	1,215			—			—
Bad debt expense (recovery), net	—			(348		)	—			—			(348		)
Impairment	—			332			—			—			332
Gain on dispositions of property and equipment, net	—			(1,121		)	(5		)	—			(1,126		)
Total costs and expenses	7,117			126,912			21,813			(135		)	155,707
Income (loss) from operations	(7,117		)	509			3,609			135			(2,864		)
Other income (expense):
Equity in earnings of subsidiaries	3,305			3,431			—			(6,736		)	—
Interest expense	(10,059		)	(1		)	(45		)	—			(10,105		)
Other income (expense)	91			401			(8		)	(135		)	349
Total other income (expense), net	(6,663		)	3,831			(53		)	(6,871		)	(9,756		)
Income (loss) before income taxes	(13,780		)	4,340			3,556			(6,736		)	(12,620		)
Income tax (expense) benefit 1	836			(1,035		)	(125		)	—			(324		)
Net income (loss)	$	(12,944	)	$	3,305		$	3,431		$	(6,736	)	$	(12,944	)
	Three months ended June 30, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	133,008		$	21,774		$	—		$	154,782
Costs and expenses:
Operating costs	—			97,134			17,063			—			114,197
Depreciation and amortization	266			21,720			1,301			—			23,287
General and administrative	10,130			14,090			714			(105		)	24,829
Intercompany leasing	—			(1,215		)	1,215			—			—
Bad debt expense (recovery), net	—			(370		)	—			—			(370		)
Impairment	—			2,368			—			—			2,368
Gain on dispositions of property and equipment, net	—			(713		)	(13		)	—			(726		)
Total costs and expenses	10,396			133,014			20,280			(105		)	163,585
Income (loss) from operations	(10,396		)	(6		)	1,494			105			(8,803		)
Other income (expense):
Equity in earnings of subsidiaries	521			1,034			—			(1,555		)	—
Interest expense	(9,645		)	(2		)	5			—			(9,642		)
Other income (expense)	159			223			(233		)	(105		)	44
Total other income (expense), net	(8,965		)	1,255			(228		)	(1,660		)	(9,598		)
Income (loss) before income taxes	(19,361		)	1,249			1,266			(1,555		)	(18,401		)
Income tax (expense) benefit 1	1,209			(728		)	(232		)	—			249
Net income (loss)	$	(18,152	)	$	521		$	1,034		$	(1,555	)	$	(18,152	)
1  The income tax (expense) benefit reflected in each column does not include any tax effect of the equity in earnings (losses) of subsidiaries.

24

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in thousands)

	Six months ended June 30, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	252,346		$	47,065		$	—		$	299,411
Costs and expenses:
Operating costs	—			189,519			35,036			—			224,555
Depreciation and amortization	490			42,298			2,716			—			45,504
General and administrative	14,903			22,025			1,128			(270		)	37,786
Intercompany leasing	—			(2,430		)	2,430			—			—
Bad debt recovery, net of expense	—			(286		)	—			—			(286		)
Impairment	—			1,378			—			—			1,378
Gain on dispositions of property and equipment, net	—			(2,105		)	(96		)	—			(2,201		)
Total costs and expenses	15,393			250,399			41,214			(270		)	306,736
Income (loss) from operations	(15,393		)	1,947			5,851			270			(7,325		)
Other income (expense):
Equity in earnings of subsidiaries	6,073			5,895			—			(11,968		)	—
Interest expense	(19,933		)	(15		)	(42		)	—			(19,990		)
Other income	297			667			339			(270		)	1,033
Total other income (expense), net	(13,563		)	6,547			297			(12,238		)	(18,957		)
Income (loss) before income taxes	(28,956		)	8,494			6,148			(11,968		)	(26,282		)
Income tax (expense) benefit 1	897			(2,421		)	(253		)	—			(1,777		)
Net income (loss)	$	(28,059	)	$	6,073		$	5,895		$	(11,968	)	$	(28,059	)
	Six months ended June 30, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	259,875		$	39,385		$	—		$	299,260
Costs and expenses:
Operating costs	—			186,943			30,020			—			216,963
Depreciation and amortization	557			43,729			2,748			—			47,034
General and administrative	16,368			26,629			1,236			(210		)	44,023
Intercompany leasing	—			(2,430		)	2,430			—			—
Bad debt recovery, net of expense	—			(422		)	—			—			(422		)
Impairment	—			2,368			—			—			2,368
Gain on dispositions of property and equipment, net	—			(1,034		)	(27		)	—			(1,061		)
Total costs and expenses	16,925			255,783			36,407			(210		)	308,905
Income (loss) from operations	(16,925		)	4,092			2,978			210			(9,645		)
Other income (expense):
Equity in earnings of subsidiaries	5,070			2,687			—			(7,757		)	—
Interest expense	(19,161		)	(2		)	8			—			(19,155		)
Other income	161			442			155			(210		)	548
Total other income (expense), net	(13,930		)	3,127			163			(7,967		)	(18,607		)
Income (loss) before income taxes	(30,855		)	7,219			3,141			(7,757		)	(28,252		)
Income tax (expense) benefit 1	1,564			(2,149		)	(454		)	—			(1,039		)
Net income (loss)	$	(29,291	)	$	5,070		$	2,687		$	(7,757	)	$	(29,291	)
1  The income tax (expense) benefit reflected in each column does not include any tax effect of the equity in earnings (losses) of subsidiaries.

25

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(unaudited, in thousands)

	Six months ended June 30, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities	$	(35,104	)	$	35,209		$	3,941		$	—	$	4,046
Cash flows from investing activities:
Purchases of property and equipment	(314		)	(28,634		)	(2,434		)	—		(31,382		)
Proceeds from sale of property and equipment	—			3,376			63			—		3,439
Proceeds from insurance recoveries	—			588			—			—		588
	(314		)	(24,670		)	(2,371		)	—		(27,355		)
Cash flows from financing activities:
Purchase of treasury stock	(125		)	—			—			—		(125		)
Intercompany contributions/distributions	10,784			(10,539		)	(245		)	—		—
	10,659			(10,539		)	(245		)	—		(125		)
Net increase (decrease) in cash, cash equivalents and restricted cash	(24,759		)	—			1,325			—		(23,434		)
Beginning cash, cash equivalents and restricted cash	51,348			—			3,216			—		54,564
Ending cash, cash equivalents and restricted cash	$	26,589		$	—		$	4,541		$	—	$	31,130
	Six months ended June 30, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities	$	(26,626	)	$	37,071		$	6,680		$	—	$	17,125
Cash flows from investing activities:
Purchases of property and equipment	(435		)	(26,989		)	(4,061		)	—		(31,485		)
Proceeds from sale of property and equipment	—			2,212			13			—		2,225
Proceeds from insurance recoveries	—			527			14			—		541
	(435		)	(24,250		)	(4,034		)	—		(28,719		)
Cash flows from financing activities:
Proceeds from exercise of options	12			—			—			—		12
Purchase of treasury stock	(549		)	—			—			—		(549		)
Intercompany contributions/distributions	12,876			(12,821		)	(55		)	—		—
	12,339			(12,821		)	(55		)	—		(537		)
Net increase (decrease) in cash, cash equivalents and restricted cash	(14,722		)	—			2,591			—		(12,131		)
Beginning cash, cash equivalents and restricted cash	72,385			—			3,263			—		75,648
Ending cash, cash equivalents and restricted cash	$	57,663		$	—		$	5,854		$	—	$	63,517

26

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Statements we make in the following discussion that express a belief, expectation or intention, as well as those that are not historical fact, are forward-looking statements made in good faith that are subject to risks, uncertainties and assumptions. These forward-looking statements are based on our current beliefs, intentions, and expectations and are not guarantees or indicators of future performance. Our actual results, performance or achievements, or industry results, could differ materially from those we express in the following discussion as a result of a variety of factors, including general economic and business conditions and industry trends, levels and volatility of oil and gas prices, the continued demand for drilling services or production services in the geographic areas where we operate, decisions about exploration and development projects to be made by oil and gas exploration and production companies, the highly competitive nature of our business, technological advancements and trends in our industry and improvements in our competitors' equipment, the loss of one or more of our major clients or a decrease in their demand for our services, future compliance with covenants under debt agreements, including our senior secured term loan, our senior secured revolving asset-based credit facility, and our senior notes, future compliance with the listing requirements of the NYSE, operating hazards inherent in our operations, the supply of marketable drilling rigs, well servicing rigs, coiled tubing units and wireline units within the industry, the continued availability of new components for drilling rigs, well servicing rigs, coiled tubing units and wireline units, the continued availability of qualified personnel, the success or failure of our acquisition strategy, the occurrence of cybersecurity incidents, the political, economic, regulatory and other uncertainties encountered by our operations, and changes in, or our failure or inability to comply with, governmental regulations, including those relating to the environment. We have discussed many of these factors in more detailelsewhere in this report and in our Annual Report on Form 10-K for the year ended December 31, 2018,including under the headings “Risk Factors” in Item 1A and “Special Note Regarding Forward-Looking Statements” in the Introductory Note to Part I. These factors are not necessarily all the important factors that could affect us.Other unpredictable or unknown factors could also have material adverse effects on actual results of matters that are the subject of our forward-looking statements. All forward-looking statements speak only as of the date on which they are made and we undertake no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise. We advise our shareholders that they should (1) recognize that important factors not referred to above could affect the accuracy of our forward-looking statements and (2) use caution and common sense when considering our forward-looking statements.

27

Company Overview

Pioneer Energy Services Corp. provides land-based drilling services and production services to a diverse group of oil and gas exploration and production companies in the United States and internationally in Colombia.Drilling services and production services are fundamental to establishing and maintaining the flow of oil and natural gas throughout the productive life of a well.

• Drilling Services—Our current drilling rig fleet is100% pad-capable and offers the latest advancements in pad drilling. We have17AC rigs in the US and eightSCR rigs in Colombia, all of which have 1,500 horsepower or greater drawworks. We provide a comprehensive service offering which includes the drilling rig, crews, supplies and most of the ancillary equipment needed to operate our drilling rigswhich are deployed through our division offices in the following regions:

	Rig Count
Domestic drilling:
Marcellus/Utica	6
Permian Basin and Eagle Ford	9
Bakken	2
International drilling	8
	25

• Production Services—Our production services business segments provide a range of well, wireline and coiled tubing servicesto a diverse group of exploration and production companies, with our operations concentrated in the major domestic onshore oil and gas producing regions in the Gulf Coast, Mid-Continent and Rocky Mountain states.

• Well Servicing. A range of services are required in order to establish production in newly-drilled wells and to maintain production over the useful lives of active wells. We use our well servicing rig fleet to provide these necessary services, including the completion of newly-drilled wells, maintenance and workover of active wells, and plugging and abandonment of wells at the end of their useful lives.As ofJune 30, 2019, we have a fleet of 113rigs with 550 horsepower and 12rigs with 600 horsepower with operations in 9locations, mostly in the Gulf Coast states, as well as in North Dakota and Colorado.

• Wireline Services. Oil and gas exploration and production companies require wireline services to better understand the reservoirs they are drilling or producing and use logging services to accurately characterize reservoir rocks and fluids. To complete a cased-hole well, the production casing must be perforated to establish a flow path between the reservoir and the wellbore. We use our fleet of wireline units to provide these important logging and perforating services in addition to a range of other mechanical services that are needed in order to place equipment in or retrieve equipment or debris from the wellbore, install bridge plugs and control pressure.As of June 30, 2019, we have a fleet of 95 wireline units, includingtwogreaseless, EcoQuiet^TM units designed to reduce noise when operating in proximity to urban areas and an additionalfiveunits that offer greaseless electric wireline used to reach further depths in longer laterals. Our fleet is deployed through12operating locations in the Gulf Coast, Mid-Continent and Rocky Mountain states.

• Coiled Tubing Services. Coiled tubing is another important element of the well servicing industry that allows operators to continue production during service operations on a well under pressure without shutting in the well, thereby reducing the risk of formation damage. Coiled tubing services involve the use of a continuous flexible metal pipe which is spooled on a large reel and inserted into the wellbore to perform a variety of oil and natural gas well applications, such as wellbore clean-outs, nitrogen jet lifts, through-tubing fishing, formation stimulation utilizing acid, chemical treatments and fracturing. Coiled tubing is also used for a number of horizontal well applications, such as milling temporary plugs between frac stages.As ofJune 30, 2019, we have a current fleet ofninecoiled tubing units, consisting of foursmall-diameter and fivelarge-diameter units (larger than two inches), deployed throughtwooperating locations that provide services in Texas, Wyoming and surrounding areas.

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Pioneer Energy Services Corp. was incorporated under the laws of the State of Texas in 1979 as the successor to a business that had been operating since 1968. Since then, we have significantly expanded and transformed our business through acquisitions and organic growth.Our business is comprised of two business lines — Drilling Services and Production Services. We report our Drilling Services business as two reportable segments: (i) Domestic Drilling and (ii) International Drilling. We report our Production Services business as three reportable segments: (i) Well Servicing, (ii) Wireline Services, and (iii) Coiled Tubing Services. Financial information about our operating segments is included in Note 10, Segment Information, of the Notes to Unaudited Condensed ConsolidatedFinancial Statements, included in Part I, Item 1,Financial Statements, of this Quarterly Report on Form 10-Q.

Pioneer Energy Services Corp.’s corporate office is located at 1250 N.E. Loop 410, Suite 1000, San Antonio, Texas 78209. Our phone number is (855) 884-0575 and our website address is www.pioneeres.com. We make available free of charge through our website our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and all amendments to those reports as soon as reasonably practicable after such material is electronically filed with the Securities and Exchange Commission (SEC). Information on our website is not incorporated into this report or otherwise made part of this report.

Market Conditions in Our Industry

Industry Overview — Demand for oilfield services offered by our industry is a function of our clients’ willingness to make operating expenditures and capital expenditures to explore for, develop and produce hydrocarbons, which is primarily driven by current and expected oil and natural gas prices.

Our business is influenced substantially by exploration and production companies’ spending that is generally categorized as either a capital expenditure or an operating expenditure.Capital expenditures for the drilling and completion of exploratory and development wells in proven areas are more directly influenced by current and expected oil and natural gas prices and generally reflect the volatility of commodity prices. In contrast, operating expenditures for the maintenance of existing wells, for which a range of production services are required in order to maintain production, are relatively more stable and predictable.

Drilling and production services have historically trended similarly in response to fluctuations in commodity prices. However, because exploration and production companies often adjust their budgets for exploration and development drilling first in response to a change in commodity prices, the demand for drilling services is generally impacted first and to a greater extent than the demand for production services which is more dependent on ongoing expenditures that are necessary to maintain production. Additionally, within the range of production services businesses, those that derive more revenue from production related activity, as opposed to completion of new wells, tend to be less affected by fluctuations in commodity prices and temporary reductions in industry activity.

However, in a severe downturn that is prolonged, both operating and capital expenditures are significantly reduced, and the demand for all our service offerings is significantly impacted. After a prolonged downturn, among the production services, the demand for completion-oriented services generally improves first, as exploration and production companies begin to complete wells that were previously drilled but not completed during the downturn, and to complete newly drilled wells as the demand for drilling services improves during recovery.

From time to time, temporary regional slowdowns or constraints occur in our industry due to a variety of factors, including, among others, infrastructure or takeaway capacity limitations, labor shortages, increased regulatory or environmental pressures, or an influx of competitors in a particular region. Any of these factors can influence the profitability of operations in the affected region. However, term contract coverage for our drilling services business and the mobility of all our equipment between regions reduces our exposure to the impact of regional constraints and fluctuations in demand.

Technological advancements and trends in our industry also affect the demand for certain types of equipment, and can affect the overall demand for the services our industry provides.Enhanced directional and horizontal drilling techniques have allowed exploration and production operators to drill increasingly longer lateral wellbores which enable higher hydrocarbon production per well, and reduce the overall number of wells needed to achieve the desired production. This trend toward longer lateral wellbores also increases demand for the more specialized equipment, such as high-spec drilling rigs, higher horsepower well servicing rigs equipped with taller masts, larger diameter coiled tubing units, and other higher power ancillary equipment, which is needed in order to drill, complete and provide services to the full length of the wellbore.Our domestic drilling and production services fleets are highly capable and designed for operation in today’s long lateral, pad-

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oriented environment.

For additional information concerning the potential effects of volatility in oil and gas prices and other industry trends, see Item 1A – “Risk Factors” in Part I of our Annual Report on Form 10-K for the year ended December 31, 2018.

Market Conditions — Our industry experienced a severe down cycle from late 2014 through 2016, during which WTI oil prices dipped below $30 per barrel in early 2016. A modest recovery in commodity prices began in the latter half of 2016 with WTI oil prices steadily increasing from just under $50 per barrel at the end of June 2016 to approximately $60 per barrel at the end of 2017. In 2018, WTI oil prices continued to increase to a high of $75 per barrel in October, but then decreased to $45 per barrel at the end of 2018. The average WTI oil price in the second quarter of 2019 increased to almost $60 per barrel.

The trends in spot prices of WTI crude oil and Henry Hub natural gas, and the resulting trends in domestic land rig counts (per Baker Hughes) and domestic well servicing rig counts (per Guiberson/Association of Energy Service Companies) over the last three years are illustrated in the graphs below.

The trends in commodity pricing and domestic rig counts over the last 12 months are illustrated below:

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As of June 30, 2019, 23of our25drilling rigs are earning revenues,21of which are under term contracts, which if not canceled or renewed prior to the end of their terms, will expire as follows:

	Spot Market Contracts		Term Contract Expiration by Period
		Total Term Contracts	Within 6 Months	6 Months to 1 Year	1 Year to 18 Months	18 Months to 2 Years	2 to 4 Years
Domestic rigs	2	14	10	1	2	—	1
International rigs	—	7	3	3	—	1	—
	2	21	13	4	2	1	1

Unlike our domestic term contracts, our international drilling contracts are cancelable by our clients without penalty, although the contracts require 15 to 30 days notice and payment for demobilization services.The spot contracts for our domestic drilling rigs are also terminable by our client with30days notice, but typically do not include a required payment for demobilization services. We are actively marketing our idle drilling rigs, as well as those that have terms expiring in the near term or that we otherwise expect to complete their current contracts in the short term. We are currently negotiating renewals and new contracts for certain rigs which are set to expire in the second half of 2019, and we continue to evaluate the possibility of selling some or all of our assets in Colombia.

As compared to our drilling services businesses which generally perform one type of service under longer-term contracts, our production services businesses perform a range of services that are more short-term in nature, and for which demand can, at times, experience quicker adjustments to regional demand and capacity. As compared to the first quarter of 2019, overall demand for our well servicing business improved, our wireline business experienced relatively consistent demand with some increase in activity, and our coiled tubing business experienced decreased utilization. In addition, both our wireline and coiled tubing businesses experienced increased pricing pressure during the current quarter.

The level of exploration and production activity within a region can fluctuate due to a variety of factors which may directly or indirectly impact our operations in the region. A recent influx of coiled tubing equipment has led to excess capacity and increased competition in the South Texas and Rocky Mountain regions, while certain seasonal factors surrounding wildlife migration during the second quarter caused an interruption to the operations in affected areas of the Rocky Mountains. In Colorado, Senate Bill 19-181 was enacted in April 2019, which gives the state’s oil and gas conservation commission and the state’s local governments more authority over oil and gas operations, and which could lead to newly imposed regulations that may impede our clients’ ability to operate in the region, and similarly reduce demand for the services that we provide in this region. At the end of June 2019, we were operating ten wireline units and six well servicing rigs in Colorado, which we believe can be redeployed to other markets should future regulations negatively impact demand.

Although we expect a competitive market environment with some clients that may decrease their activity during the second half of 2019 due to budget constraints, we believe our high-quality equipment and services and our excellent safety record position us well to compete. We are focused on improving margins through realignment of certain businesses and reducing costs.

Liquidity and Capital Resources

Sources of Capital Resources

Our principal sources of liquidity currently consist of:

• total cash and cash equivalents ($31.1 million as of June 30, 2019);

• cash generated from operations ($4.0 million during the six months ended June 30, 2019);

• proceeds from sales of assets; ($3.4 million during the six months ended June 30, 2019); and

• the availability under our asset-based lending facility ($59.8 million as of June 30, 2019).

Our asset-based lending facility (the “ABL Facility”) provides for a senior secured revolving asset-based credit facility, with sub-limits for letters of credit, of up to a current aggregate commitment amount of $75 million, subject to availability under a borrowing base generally comprised of a percentage of our accounts receivable and inventory. The ABL Facility is generally set to mature 90 days prior to the maturity of the Term Loan, subject to certain circumstances, including the future repayment, extinguishment or refinancing of our Term Loan and/or Senior Notes prior to their respective maturity dates.

We have not drawn upon our ABL Facility to date. As of June 30, 2019, we had $9.7 million in committed letters of credit, which, after borrowing base limitations, resulted in borrowing availability of $59.8 million. Borrowings available under

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the ABL Facility are available for general corporate purposes, and there are no limitations on our ability to access the borrowing capacity provided there is no default and compliance with the covenants under the ABL Facility is maintained. Additional information regarding these covenants is provided in the Debt Compliance Requirements section below.

In the future, we may also consider equity and/or debt offerings, as appropriate, to meet our liquidity needs. On May 22, 2018, we filed a registration statement that permits us to sell equity or debt in one or more offerings up to a total dollar amount of $300 million. As of June 30, 2019, the entire$300 millionunder the shelf registration statement is available for equity or debt offerings, subject to the limitations imposed by our Term Loan, ABL Facility and Senior Notes.

We currently expect that cash and cash equivalents, cash generated from operations, proceeds from sales of assets, and available borrowings under our ABL Facility are adequate to cover our liquidity requirements for at least the next 12 months.

Uses of Capital Resources

Our principal liquidity requirements are currently for:

• working capital needs;

• debt service; and

• capital expenditures.

Our operations have historically generated cash flows sufficient to meet our requirements for debt service and normal capital expenditures. However, our working capital requirements generally increase during periods when rig construction projects are in progress or during periods of expansion in our production services business, at which times we have been more likely to access capital through equity or debt financing. Additionally, our working capital needs may increase in periods of increasing activity following a sustained period of low activity. During periods of sustained low activity and pricing, we may also access additional capital through the use of available funds under our ABL Facility.

We believe that we will have sufficient liquidity to fund our business and operations for at least the next 12 months. While the Term Loan does not mature until December 2021, we are proactively exploring various strategic and other alternatives to address the uncertainties related to our ability to refinance our outstanding debts as their maturities approach.

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Working Capital — Our working capital was $106.5 million at June 30, 2019, compared to $110.3 million at December 31, 2018. Our current ratio, which we calculate by dividing current assets by current liabilities, was 2.0 at June 30, 2019, as compared to 2.1 at December 31, 2018. The changes in the components of our working capital were as follows (amounts in thousands), and as described below:

	June 30, 2019		December 31, 2018		Change
Cash and cash equivalents	$	30,132	$	53,566	$	(23,434	)
Restricted cash	998		998		—
Receivables:
Trade, net of allowance for doubtful accounts	90,288		76,924		13,364
Unbilled receivables	24,691		24,822		(131		)
Insurance recoveries	22,902		23,656		(754		)
Other receivables	7,691		5,479		2,212
Inventory	22,800		18,898		3,902
Assets held for sale	5,962		3,582		2,380
Prepaid expenses and other current assets	7,061		7,109		(48		)
Current assets	212,525		215,034		(2,509		)
Accounts payable	41,019		34,134		6,885
Deferred revenues	1,420		1,722		(302		)
Accrued expenses:
Payroll and related employee costs	19,484		24,598		(5,114		)
Insurance claims and settlements	22,637		23,593		(956		)
Insurance premiums and deductibles	4,989		5,482		(493		)
Interest	5,754		6,148		(394		)
Other	10,697		9,091		1,606
Current liabilities	106,000		104,768		1,232
Working capital	$	106,525	$	110,266	$	(3,741	)

• Cash and cash equivalents— The change in cash and cash equivalents during 2019 is primarily due to $31.4 million of cash used for the purchase of property and equipment, offset in part by $4.0 million of cash provided by operating activities and $3.4 million of proceeds from the sale of property and equipment.

• Trade and unbilled receivables— The net increase in our total trade and unbilled receivables during 2019 is primarily due to the 8%increase in our revenues during the quarter ended June 30, 2019, as compared to the quarter ended December 31, 2018, as well as lengthened collection cycles in our domestic segments, which was partially offset by a decrease in accounts receivable for our international operations which experienced higher collections during the quarter ended June 30, 2019. Our domestic trade receivables generally turn over within 60 days, and our Colombian trade receivables generally turn over within 120 days.

• Insurance recoveries and Insurance claims and settlements — The decrease in our insurance recoveries receivables and our insurance claims and settlements accrued expenses during 2019 is primarily due to a decrease in our insurance company’s reserve for workers’ compensation claims in excess of our deductibles.

• Other receivables — The increase in other receivables during 2019 is primarily due to an increase in recoverable income tax receivables attributable to the increase in activity for our international operations.

• Inventory — The increase in inventory during 2019 is due to an increase in inventory for our international operations and purchases of supplies and job materials for our wireline operations.

• Assets held for sale— As of June 30, 2019, ourcondensed consolidatedbalance sheet reflects assets held for sale of $6.0 million, which includes the fair value of onedomestic SCR drilling rig, two coiled tubing units, 12 wireline units, spare support equipment, and buildings and yards for two closed wireline locations, both of which were designated as held for sale in the second quarter of 2019.As of December 31, 2018, ourcondensed consolidatedbalance sheet reflects assets held for sale of $3.6 million, which primarily represents the fair value of one domestic SCR drilling rig and related spare equipment and three coiled tubing units. For additional information, see Note 4, Property and Equipment

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of the Notes to Condensed ConsolidatedFinancial Statements, included in Part I, Item 1,Financial Statements, of this Quarterly Report on Form 10-Q.

• Accounts payable — Our accounts payable generally turn over within 90 days. The increase in accounts payable during 2019 is primarily due to lengthened payment cycles and the 12%increase in our operating costs for the quarter ended June 30, 2019 as compared to the quarter ended December 31, 2018, partially offset by a $3.8 milliondecrease in our accruals for capital expenditures.

• Accrued payroll and related employee costs — The decrease in accrued payroll and related employee costs during 2019 resulted primarily from a decrease in annual incentive compensation associated with the payment of 2018 annual bonuses which were fully accrued at December 31, 2018 and were paid in the first quarter of 2019 as well as a decrease in accrued incentive compensation for our phantom stock unit awards which were granted in 2016 and settled in cash for $3.5 million in April 2019. These decreases were partially offset by an increase in payroll-related accruals attributable in part to the timing of payments for payroll taxes as well as the 7% increase in headcount during 2019.

• Other accrued expenses— The increase in other accrued expenses during 2019 is primarily due to the recognition of $2.3 million of current operating lease liabilities upon our adoption of ASU No. 2016-02, Leases, and its related amendments, as of January 1, 2019. For additional information about adoption of this standard, see Note 1, Organization and Summary of Significant Accounting Policies and Note 3, Leases, of the Notes to Unaudited Condensed ConsolidatedFinancial Statements, included in Part I, Item 1,Financial Statements, of this Quarterly Report on Form 10-Q. The increase is partially offset, however, by a decrease in property and sales tax accruals due to the timing of payments.

Debt and Other Contractual Obligations — The following table includes information about the amount and timing of our contractual obligations atJune 30, 2019(amounts are undiscounted and in thousands):

	Payments Due by Period
Contractual Obligations	Total		Within 1 Year		2 to 3 Years		4 to 5 Years		Beyond 5 Years
Debt	$	475,000	$	—	$	475,000	$	—	$	—
Interest on debt	99,750		36,225		63,525		—		—
Purchase commitments	7,481		7,481		—		—		—
Operating leases	9,812		2,659		3,622		2,263		1,268
Incentive compensation	10,133		4,778		5,355		—		—
	$	602,176	$	51,143	$	547,502	$	2,263	$	1,268

• Debt — Debt obligations at June 30, 2019 consist of $300 million of principal amount outstanding under our Senior Notes which mature on March 15, 2022 and $175 million of principal amount outstanding under our Term Loan which is expected to mature December 14, 2021. As of June 30, 2019, we had no debt outstanding under our ABL Facility.

• Interest on debt— Interest payment obligations on our Senior Notes are calculated based on the coupon interest rate of 6.125% due semi-annually in arrears on March 15 and September 15 of each year until maturity on March 15, 2022. Interest payment obligations on our Term Loan were estimated based on (1) the 10.2% interest rate that was in effect at June 30, 2019, and (2) the principal balance of $175 million at June 30, 2019, and assuming repayment of the outstanding balance occurs at December 14, 2021.

• Purchase commitments —Purchase commitments generally relate to capital projects for the repair, upgrade and maintenance of our equipment, the construction or purchase of new equipment, and purchase orders for various job and inventory supplies. AtJune 30, 2019, our purchase commitments primarily pertain to$2.5 millionof inventory and job supplies for our coiled tubing operations and $1.9 millionof service equipment for our coiled tubing operations . Other purchase commitments include various refurbishments and upgrades to our drilling and production services fleets as well as drilling equipment on order.

• Operating leases — Our operating lease obligations relate to long-term lease agreements for office space, operating facilities, field personnel housing, and office equipment.

• Incentive compensation — Incentive compensation is payable to our employees, generally contingent upon their continued employment through the date of each respective award’s payout. A portion of our long-term incentive compensation is performance-based, and therefore, the final amount will be determined based on our actual performance relative to a pre-determined peer group over the performance period.

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Debt Compliance Requirements — The following is a summary of our debt compliance requirements including covenants, restrictions and guarantees, all of which are described in more detail in Note 6, Debt, and Note 12, Guarantor/Non-Guarantor Condensed Consolidating Financial Statements, of the Notes to Unaudited Condensed ConsolidatedFinancial Statements, included in Part I, Item 1,Financial Statements, of this Quarterly Report on Form 10-Q.

The Term Loan contains a financial covenant requiring the ratio of (i) the net orderly liquidation value of our fixed assets (based on appraisals obtained as required by our lenders), on a consolidated basis, in which the lenders under the Term Loan maintain a first priority security interest, plus proceeds of asset dispositions not required to be used to effect a prepayment of the Term Loan to (ii) the outstanding principal amount of the Term Loan, to be at least equal to 1.50 to 1.00 as of any June 30 or December 31 of any calendar year through maturity. As of June 30, 2019, the asset coverage ratio, as calculated under the Term Loan, was 2.41 to 1.00.

The Term Loan contains customary mandatory prepayments from the proceeds of certain transactions including certain asset dispositions and debt issuances, and has additional customary restrictions that limit our ability to enter into various transactions. In addition, the Term Loan contains customary events of default, upon the occurrence and during the continuation of any of which the applicable margin would increase by 2% per year. Our obligations under the Term Loan are guaranteed by our wholly-owned domestic subsidiaries, and are secured by substantially all of our domestic assets, in each case, subject to certain exceptions and permitted liens.

The ABL Facility also contains customary restrictive covenants which, subject to certain exceptions, limit, among other things, our ability to enter into certain transactions. Additionally, if our availability under the ABL Facility is less than 15% of the maximum amount (or$11.25 million), we are required to maintain a minimum fixed charge coverage ratio, as defined in the ABL Facility, of at least 1.00 to 1.00, measured on a trailing 12 month basis.

Our obligations under the ABL Facility are guaranteed by us and our domestic subsidiaries, subject to certain exceptions, and are secured by (i) a first-priority perfected security interest in all inventory and cash, and (ii) a second-priority perfected security in substantially all of our tangible and intangible assets, in each case, subject to certain exceptions and permitted liens.

The Senior Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by certain of our existing domestic subsidiaries and by certain of our future domestic subsidiaries.The subsidiaries that generally operate our non-U.S. business concentrated in Colombia do not guarantee our Senior Notes.Our Senior Notes are not subject to any sinking fund requirements. The Indenture governing our Senior Notes contains additional restrictive covenants that limit our ability to enter into various transactions.

As of June 30, 2019, we were in compliance with all covenants required by our Term Loan, ABL Facility and Senior Notes.

Capital Expenditures — During the six months ended June 30, 2019, we spent $31.4 million on purchases of property and equipment and placed into service property and equipment of $27.6 million. Currently, we expect to spend approximately$50 millionon capital expenditures during2019, which includes approximately $8 millionfor final payments on the construction of the new-build drilling rig that began operations in the first quarter, and previous commitments on high-pressure pump packages for coiled tubing completion operations.

Actual capital expenditures may vary depending on the climate of our industry and any resulting increase or decrease in activity levels, the timing of commitments and payments, and the level of rig build and other expansion opportunities that meet our strategic and return on capital employed criteria.We expect to fundthe remaining capital expendituresin2019from operating cash flow in excess of our working capital requirements, althoughproceeds from sales of assets, remaining proceeds from our Term Loan issuance, and available borrowings under our ABL Facility are also available, if necessary.

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Results of Operations

Statements of Operations Analysis

The following table provides certain information about our operations, including details of each of our business segments’ revenues, operating costs and gross margin for thethree and six months ended June 30, 2019 and 2018(amounts in thousands):

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Revenues:
Domestic drilling	$	39,652		$	35,634		$	77,661		$	71,560
International drilling	25,422			21,773			47,065			39,384
Drilling services	65,074			57,407			124,726			110,944
Well servicing	29,506			23,162			55,760			44,276
Wireline services	47,386			62,137			93,260			118,738
Coiled tubing services	10,877			12,076			25,665			25,302
Production services	87,769			97,375			174,685			188,316
Consolidated revenues	$	152,843		$	154,782		$	299,411		$	299,260
Operating costs:
Domestic drilling	$	24,698		$	21,749		$	47,167		$	42,647
International drilling	18,555			17,064			35,040			30,025
Drilling services	43,253			38,813			82,207			72,672
Well servicing	21,038			16,680			39,934			32,250
Wireline services	41,804			46,716			81,151			89,202
Coiled tubing services	9,875			11,988			21,263			22,839
Production services	72,717			75,384			142,348			144,291
Consolidated operating costs	$	115,970		$	114,197		$	224,555		$	216,963
Gross margin:
Domestic drilling	$	14,954		$	13,885		$	30,494		$	28,913
International drilling	6,867			4,709			12,025			9,359
Drilling services	21,821			18,594			42,519			38,272
Well servicing	8,468			6,482			15,826			12,026
Wireline services	5,582			15,421			12,109			29,536
Coiled tubing services	1,002			88			4,402			2,463
Production services	15,052			21,991			32,337			44,025
Consolidated gross margin	$	36,873		$	40,585		$	74,856		$	82,297
Consolidated:
Net loss	$	(12,944	)	$	(18,152	)	$	(28,059	)	$	(29,291	)
Adjusted EBITDA (1)	$	20,668		$	16,896		$	40,590		$	40,305

(1)    Adjusted EBITDA represents income (loss) before interest expense, income tax (expense) benefit, depreciation and amortization, impairment, and any loss on extinguishment of debt. Adjusted EBITDA is a non-GAAP measure that our management uses to facilitate period-to-period comparisons of our core operating performance and to evaluate our long-term financial performance against that of our peers. We believe that this measure is useful to investors and analysts in allowing for greater transparency of our core operating performance and makes it easier to compare our results with those of other companies within our industry. Adjusted EBITDA should not be considered (a) in isolation of, or as a substitute for, net income (loss), (b) as an indication of cash flows from operating activities or (c) as a measure of liquidity. In addition, Adjusted EBITDA does not represent funds available for discretionary use. Adjusted EBITDA may not be comparable to other similarly titled measures reported by other companies.

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A reconciliation of net loss, as reported, to Adjusted EBITDA, and toconsolidated gross margin, are set forth in the following table:

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
	(amounts in thousands)
Net loss	$	(12,944	)	$	(18,152	)	$	(28,059	)	$	(29,291	)
Depreciation	22,851			23,287			45,504			47,034
Impairment	332			2,368			1,378			2,368
Interest expense	10,105			9,642			19,990			19,155
Income tax expense (benefit)	324			(249		)	1,777			1,039
Adjusted EBITDA	20,668			16,896			40,590			40,305
General and administrative	18,028			24,829			37,786			44,023
Bad debt recovery, net	(348		)	(370		)	(286		)	(422		)
Gain on dispositions of property and equipment, net	(1,126		)	(726		)	(2,201		)	(1,061		)
Other income	(349		)	(44		)	(1,033		)	(548		)
Consolidated gross margin	$	36,873		$	40,585		$	74,856		$	82,297

Consolidated gross margin— Our consolidated gross margindecreased by $3.7 million, or 9%, and $7.4 million, or 9%, for the three and six months ended June 30, 2019, respectively, as compared to the corresponding periods in 2018, due to a decline in demand for our wireline services, despite an increase in gross margin for all our other business segments. The $3.7 million and $7.4 million overall decreases in consolidated gross margin were net of $6.1 million and $10.0 million combined increases in gross margin for our drilling services, well servicing, and coiled tubing services segments.

• DrillingServices— Our drilling services revenues increased by $7.7 million, or 13%, and $13.8 million, or 12%, for the three and six months ended June 30, 2019, respectively, as compared to the corresponding periods in 2018, while operating costs increased by $4.4 million, or 11%, and $9.5 million, or 13%, respectively. The increases in our drilling services revenues and operating costs during both periods are primarily due to higher dayrates and the deployment of our newest AC drilling rig in March 2019. The following table provides operating statistics for each of our drilling services segments:

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Domestic drilling:
Average number of drilling rigs	17			16			17			16
Utilization rate	95		%	100		%	96		%	100		%
Revenue days	1,476			1,454			2,896			2,894
Average revenues per day	$	26,864		$	24,508		$	26,817		$	24,727
Average operating costs per day	16,733			14,958			16,287			14,736
Average margin per day	$	10,131		$	9,550		$	10,530		$	9,991
International drilling:
Average number of drilling rigs	8			8			8			8
Utilization rate	86		%	85		%	83		%	81		%
Revenue days	623			621			1,203			1,171
Average revenues per day	$	40,806		$	35,061		$	39,123		$	33,633
Average operating costs per day	29,783			27,478			29,127			25,640
Average margin per day	$	11,023		$	7,583		$	9,996		$	7,993

Our domestic drilling average revenues and margin per day for the three and six months ended June 30, 2019 increased as compared to the corresponding periods in 2018, primarily due to an increase in dayrates on new and extended contracts in late 2018 and early 2019, despite four rigs that re-priced downward in the second half of 2018 from historically high pre-downturn rates, as well as the deployment of our newest AC drilling rig in early 2019. Our average domestic drilling revenues and operating costs per day for the three and six months ended June 30, 2019 also increased

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from the corresponding periods in 2018 partially due to higher mobilization and demobilization activity during 2019. Our margin per day during 2019 also benefited from $0.4 million of revenues associated with the early termination of one of our drilling contracts in February 2019.

Our international margin per day increased for the three and six months ended June 30, 2019 primarily due to reduced mobilization activity and costs during 2019, as compared to the corresponding periods in 2018, increasing dayrates, lower standby time and additional costs incurred to deploy a previously idle rig in the first quarter of 2018. Our international drilling average revenues and operating costs per day also increased due to increased amortization of deferred mobilization revenues and costs during 2019.

• Production Services— Our revenues from production services decreased by $9.6 million, or 10%, and $13.6 million, or 7%, for the three and six months ended June 30, 2019, respectively, as compared to the corresponding periods in 2018, while operating costs decreased$2.7 million, or 4%, and $1.9 million, or 1%, respectively. The decrease in revenue is a result of the decreased demand for wireline completion services, for which the decrease was partially offset by increased demand for our well servicing business, which experienced a 26% increase in revenue during 2019. The following table provides operating statistics for each of our production services segments:

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Well servicing:
Average number of rigs	125			125			125			125
Utilization rate	60		%	49		%	57		%	48		%
Rig hours	51,895			42,871			98,959			83,645
Average revenue per hour	$	569		$	540		$	563		$	529
Wireline services:
Average number of units	95			108			100			108
Number of jobs	2,278			3,022			4,620			5,852
Average revenue per job	$	20,802		$	20,562		$	20,186		$	20,290
Coiled tubing services:
Average number of units	9			14			9			14
Revenue days	307			350			658			764
Average revenue per day	$	35,430		$	34,503		$	39,005		$	33,118

Our well servicing business experienced increases in demand during the three and six months ended June 30, 2019, as compared to the corresponding periods in 2018, as the number of completed wells increased during the recovery of our industry, resulting in a larger inventory of producing wells that now require ongoing maintenance. Our well servicing rig hours increased by 21% and 18%, while revenues per hour increased by 5% and 6%for the three and six months ended June 30, 2019, respectively, as compared to the corresponding periods in 2018.

Our wireline services business segment experienced decreases of 25% and 21% in the number of jobs completed during the three and six months ended June 30, 2019, as compared to the corresponding periods in 2018, respectively, while average revenues per job during these periods were relatively consistent. These decreases in activity were primarily a result of decreased demand for completion-related activity as compared to the corresponding period in 2018, during which time we experienced higher demand for services to complete both newly drilled wells and the remaining inventory of wells which had been drilled in prior periods but were not yet completed.

Our coiled tubing services business experienced decreases of 12% and 14% in revenue days for the three and six months ended June 30, 2019, respectively, as compared to the corresponding periods in 2018, while average revenue per day increased3% and 18%. A recent influx of coiled tubing equipment has led to excess capacity and increased competition in the South Texas and Rocky Mountain regions, while certain seasonal factors surrounding wildlife migration during the second quarter caused an interruption to the operations in affected areas of the Rocky Mountains. The increases in average revenue per day were primarily due to a larger proportion of the work performed with larger diameter coiled tubing units, including the addition of two new large-diameter coiled tubing units which were placed in service in July and December 2018. Large-diameter coiled tubing units typically earn higher revenue rates as compared to smaller diameter coiled tubing units.

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Depreciation expense — Our depreciation expense decreased by $0.4 million and $1.5 millionfor the three and six months ended June 30, 2019, respectively, primarily in our wireline and coiled tubing segments, which currently operate with an overall smaller fleet as compared to the corresponding periods in 2018.

Impairment— During the six months ended June 30, 2019 and 2018, we recognized impairment charges of $1.4 million and $2.4 million, respectively, to reduce the carrying values of certain assets which were classified as held for sale, to their estimated fair values based on expected sale prices. For more detail, see Note 4, Property and Equipment, of the Notes to Condensed ConsolidatedFinancial Statements, included in Part I, Item 1Financial Statements, of this Quarterly Report on Form 10-Q.

Income tax expense (benefit)— Our effective tax rates differ from the applicable U.S. statutory rates due to a number of factors, including valuation allowances, impact of permanent items and the mix of profit and loss between federal, state and international taxing jurisdictions.

General and administrative expense — Our general and administrative expense decreased by $6.8 million, or 27%, and $6.2 million, or 14%, for the three and six months ended June 30, 2019, respectively, as compared to the corresponding periods in 2018, primarily due to a $6.4 million decrease in our phantom stock compensation expense during 2019, attributable to the decrease in the fair value of our phantom stock unit awards.

Gain on dispositions of property and equipment, net— During the six months ended June 30, 2019, we recognized a net gain of $2.2 million on the disposition of drill pipe and various other property and equipment, including some assets which were previously held for sale, as well as insurance proceeds received for damaged equipment. During the six months ended June 30, 2018, we recognized a net gain of $1.1 million on the disposition of various property and equipment, including the sale of six wireline units and one drilling rig, which was previously held for sale.

Critical Accounting Policies and Estimates

The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in our financial statements and accompanying notes. Actual results could differ from those estimates. Except for those related to the adoption of ASC Topic 842 discussed below, as of June 30, 2019, there were no significant changes to our critical accounting policies since the date of our annual report on Form 10-K for the year ended December 31, 2018.

Leases— In February 2016, the FASB issued ASU No. 2016-02, Leases, which among other things, requires lessees to recognize substantially all leases on the balance sheet, with expense recognition that is similar to the former lease standard, and aligns the principles of lessor accounting with the principles of the FASB’s new revenue guidance in ASC Topic 606. In July 2018, the FASB issued ASU No. 2018-11, Leases: Targeted Improvements, which provides an option to apply the guidance prospectively, and provides a practical expedient allowing lessors to combine the lease and non-lease components of revenues where the revenue recognition pattern is the same and where the lease component, when accounted for separately, would be considered an operating lease. The practical expedient also allows a lessor to account for the combined lease and non-lease components under ASC Topic 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined component.

As a lessor, we elected to apply the practical expedient which allows us to continue to recognize our revenues (both lease and service components) under ASC Topic 606, and continue to present them as one revenue stream in ourunaudited condensed consolidatedstatements of operations. As a lessee, this standard primarily impacts our accounting for long-term real estate and office equipment leases, for which we recognized an operating lease asset and a corresponding operating lease liability on ourunaudited condensed consolidatedbalance sheet of$9.8 millionat the adoption date of January 1, 2019. For leases that commenced prior to adoption of ASC Topic 842, we elected to apply the package of practical expedients which allows us to carry forward the historical lease classification. The adoption of ASC Topic 842 also resulted in a cumulative effect adjustment of$0.3 millionafter applicable income taxes, related to the write off of previously unamortized deferred lease liabilities at the date of adoption. For more information about the accounting under ASC Topic 842, and disclosures under the new standard, see Note3, Leases, of the Notes to Unaudited Condensed ConsolidatedFinancial Statements, included in Part I, Item 1Financial Statements, of this Quarterly Report on Form 10-Q.

Accounting estimates — Material estimates that are particularly susceptible to significant changes in the near term relate to our estimates of certain variable revenues and amortization periods of certain deferred revenues and costs associated with

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drilling daywork contacts, our estimates of projected cash flows and fair values for impairment evaluations, our estimate of the valuation allowance for deferred tax assets, our estimate of the liability relating to the self-insurance portion of our health and workers’ compensation insurance and our estimate of compensation related accruals.

• In accordance with ASC Topic 606, Revenue from Contracts with Customers, we estimate certain variable revenues associated with the demobilization of our drilling rigs under daywork drilling contracts. We also make estimates of the applicable amortization periods for deferred mobilization costs, and for mobilization revenues related to cancelable term contracts which represent a material right to our clients. These estimates and assumptions are described in more detail in Note 2, Revenue from Contracts with Customers. In order to make these estimates, management considers all the facts and circumstances pertaining to each particular contract, our past experience and knowledge of current market conditions. For more information, see Note 2, Revenue from Contracts with Customers, of the Notes to Condensed ConsolidatedFinancial Statements, included in Part I, Item 1,Financial Statements, of this Quarterly Report on Form 10-Q.

• In accordance with ASC Topic 360, Property, Plant and Equipment, we monitor all indicators of potential impairments, andconcluded there are no triggers present that require impairment testing as ofJune 30, 2019, other than the placement of certain assets as held for sale.The most significant inputs used in our impairment analysis include the projected utilization and pricing of our services, as well as the estimated proceeds upon any future sale or disposal of the assets, all of which are classified as Level 3 inputs as defined by ASC Topic 820, Fair Value Measurements and Disclosures.The assumptions we use in the evaluation for impairment are inherently uncertain and require management judgment.Although we believe the assumptions and estimates used in our impairment analysis are reasonable, different assumptions and estimates could materially impact the analysis and resulting conclusions.If commodity prices remain at current levels for an extended period of time, or if the demand for any of our services decreases below what we are currently projecting, our estimated cash flows may decrease, and if any of the foregoing were to occur, we could incur impairment charges on the related assets. For more information, see Note 4, Property and Equipment, of the Notes to Condensed ConsolidatedFinancial Statements, included in Part I, Item 1,Financial Statements, of this Quarterly Report on Form 10-Q.

• As ofJune 30, 2019, we had $100.1 million and $8.1 millionof deferred tax assets related to domestic and foreign net operating losses, respectively, that are available to reduce future taxable income.In assessing the realizability of our deferred tax assets, we consider whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible.As result, as ofJune 30, 2019, we had a valuation allowance of $67.2 million that offsets a portion of our domestic and foreign net deferred tax assets.Since 2017, market conditions and operating results for our Colombian operations have improved, and if they continue to improve, then we may determine that there is sufficient evidence that future taxable income will be generated to utilize our foreign deferred tax assets which would result in the reversal of the valuation allowance relating to our foreign deferred tax assets. For more information, see Note 5, Valuation Allowances on Deferred Tax Assets, of the Notes to Condensed ConsolidatedFinancial Statements, included in Part I, Item 1,Financial Statements, of this Quarterly Report on Form 10-Q.

• We use a combination of self-insurance and third-party insurance for various types of coverage. We have stop-loss coverage of $200,000 per covered individual per year under our health insurance and a deductible of $500,000 per occurrence under our workers’ compensation insurance. We have a deductible of $250,000 per occurrence under both our general liability insurance and auto liability insurance, as well as an additional annual aggregate deductible of $250,000 under our general liability insurance. At June 30, 2019, our accrued insurance premiums and deductibles include approximately $1.1 million of accruals for costs incurred under the self-insurance portion of our health insurance and approximately $3.0 million of accruals for costs associated with our workers’ compensation insurance. We accrue for these costs as claims are incurred using an actuarial calculation that is based on industry and our company’s historical claim development data, and we accrue the cost of administrative services associated with claims processing.

• Our compensation expense includes estimates for certain of our long-term incentive compensation plans which have performance-based award components dependent upon our performance over a set performance period, as compared to the performance of a pre-defined peer group. The accruals for these awards include estimates which affect our compensation expense, employee related accruals and equity. The accruals are adjusted based on actual achievement levels at the end of the pre-determined performance periods. Additionally, our phantom stock unit awards are classified as liability awards under ASC Topic 718, Compensation—Stock Compensation, because we expect to settle the awards

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in cash when they vest, and are remeasured at fair value at the end of each reporting period until they vest. The change in fair value is recognized as a current period compensation expense in our condensed consolidated statements of operations.Therefore, changes in the inputs used to measure fair value can result in volatility in our compensation expense. This volatility increases as the phantom stock awards approach the vesting date. For more information, see Note 9, Stock-Based Compensation Plans, of the Notes to Condensed ConsolidatedFinancial Statements, included in Part I, Item 1,Financial Statements, of this Quarterly Report on Form 10-Q.

Recently Issued Accounting Standards

For a detail of recently issued accounting standards, see Note 1, Organization and Summary of Significant Accounting Policies, of the Notes to Condensed ConsolidatedFinancial Statements, included in Part I, Item 1,Financial Statements, of this Quarterly Report on Form 10-Q.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Our exposure to market risk primarily consists of (i) interest rate risk associated with our variable rate debt and (ii) foreign currency exchange rate risk associated with our Colombian operations.

Interest Rate Risk — We are exposed to interest rate market risk on our variable rate debt. We do not use financial instruments for trading or other speculative purposes. As of June 30, 2019, the principal amount under our Term Loan was $175 million, which is our only variable rate debt with an outstanding balance. The impact of a hypothetical 1% increase or decrease in interest rates on this amount of debt would have resulted in a corresponding increase or decrease, respectively, in interest expense of approximately $0.9 million during the six months ended June 30, 2019. This potential increase or decrease is based on the simplified assumption that the level of variable rate debt remains constant with an immediate across-the-board interest rate increase or decrease as of January 1, 2019.

Foreign Currency Risk — While the U.S. dollar is the functional currency for reporting purposes for our Colombian operations, we enter into transactions denominated in Colombian Pesos. Nonmonetary assets and liabilities are translated at historical rates and monetary assets and liabilities are translated at exchange rates in effect at the end of the period. Income statement accounts are translated at average rates for the period. As a result, Colombian Peso denominated transactions are affected by changes in exchange rates. We generally accept the exposure to exchange rate movements without using derivative financial instruments to manage this risk. Therefore, both positive and negative movements in the Colombian Peso currency exchange rate against the U.S. dollar have and will continue to affect the reported amount of revenues, expenses, profit, and assets and liabilities in our consolidated financial statements. The impact of currency rate changes on our Colombian Peso denominated transactions and balances resulted in net foreign currency gains of $0.2 million for the six months ended June 30, 2019.

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ITEM 4. CONTROLS AND PROCEDURES

In accordance with Exchange Act Rules 13a-15 and 15d-15, we carried out an evaluation, under the supervision and with the participation of management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of June 30, 2019, to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is (1) recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms and (2) accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

In the ordinary course of business, we may make changes to our systems and processes to improve controls and increase efficiency, and make changes to our internal controls over financial reporting in order to ensure that we maintain an effective internal control environment.

There has been no change in our internal control over financial reporting that occurred during the three months endedJune 30, 2019 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

From time to time, we are involved in routine litigation or subject to disputes or claims arising out of our business activities, including workers’ compensation claims and employment-related disputes. In the opinion of our management, none of the pending litigation, disputes or claims against us will have a material adverse effect on our financial condition, results of operations or cash flows.

ITEM 1A. RISK FACTORS

Except as discussed below, there has been no material change in our risk factors as previously disclosed in Item 1A – “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2018 (the “2018 Form 10-K”).  In addition to the other factors set forth in this Form 10-Q, you should carefully consider the factors discussed in Item 1A – “Risk Factors” in our 2018 Form 10-K, which could materially affect our business, financial condition or future results.

If we cannot meet the continued listing requirements of the NYSE, the NYSE may delist our common stock.

On June 11, 2019, we received written notification from the New York Stock Exchange (“NYSE”) that the average closing price of our common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average closing share price required to maintain listing on the NYSE under Section 802.01C of the NYSE Listed Company Manual. The notice has no immediate impact on the listing of our common stock, which will continue to be listed and traded on the NYSE during this period, subject to our compliance with other listing standards. Our common stock is permitted to continue to trade on the NYSE under the symbol “PES,” but will have an added designation of “.BC” to indicate the status of the common stock as “below compliance.”

We informed the NYSE that we intend to cure the deficiency and to return to compliance with the NYSE continued listing requirement. We have six months following receipt of the notification to regain compliance with the minimum share price requirement. We can regain compliance at any time during the six-month cure period if our common stock has a closing share price of at least $1.00 on the last trading day of any calendar month during the six-month period and also has an average closing share price of at least $1.00 over the 30-trading day period ending on the last trading day of that month.

Notwithstanding the foregoing, if we were to determine that we must cure the price condition by taking an action that would require approval of our shareholders (such as a reverse stock split), we could also regain compliance by (i) obtaining the requisite shareholder approval by no later than our next annual meeting and (ii) implementing the action promptly thereafter, such that the price of our common stock would promptly exceed $1.00 per share, provided that the price must remain above that level for at least the following 30 trading days. However, there is no assurance that our stockholders would vote for such proposal.

Further, our common stock could be delisted if (i) our average market capitalization over a consecutive 30 trading-day period is less than $15 million, or (ii) our common stock trades at an “abnormally low” price, which in either case, we would not have an opportunity to cure the deficiency, our common stock would be suspended from trading on the NYSE immediately, and the NYSE would begin the process to delist our common stock, subject to our right to appeal under NYSE rules. There is no assurance that any appeal we undertake in these or other circumstances will be successful. While we are considering various options, it may take a significant effort to cure this deficiency and regain compliance with this continued listing standard, and there can be no assurance that we will be able to cure this deficiency or if we will cease to comply with another NYSE continued listing standard.

If our common stock ultimately were to be delisted for any reason, it could negatively impact us by, among other things, reducing the liquidity and market price of our common stock, reducing the number of investors willing to hold or acquire our common stock, and negatively impacting our ability to access equity markets and obtain financing.

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ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

We did not make any unregistered sales of equity securities during the quarter ended June 30, 2019. The following table provides information relating to our repurchase of common shares during the quarter ended June 30, 2019:

Period	Total Number of Shares Purchased  (1)	Average Price Paid per Share (2)		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
April 1 - April 30	1,926	$	2.05	—	—
May 1 - May 31	730	$	0.42	—	—
June 1 - June 30	—	$	—	—	—
Total	2,656	$	1.60	—	—

(1) The shares indicated consist of shares of our common stock tendered by employees to the Company during the three months ended June 30, 2019, to satisfy the employees’ tax withholding obligations in connection with the vesting of share-based compensation awards, which we repurchased based on the fair market value on the date the relevant transaction occurred.

(2) The calculation of the average price paid per share does not give effect to any fees, commissions or other costs associated with the repurchase of such shares.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

Not applicable.

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ITEM 6. EXHIBITS

The following exhibits are filed as part of this report:

Exhibit Number		Description
3.1*	-	Restated Articles of Incorporation of Pioneer Energy Services Corp. (Form 8-K dated May 22, 2017 (File No. 1-8182, Exhibit 3.1)).
3.2*	-	Amended and Restated Bylaws of Pioneer Energy Services Corp. (Form 8-K dated July 1, 2019 (File No. 1-8182, Exhibit 3.1)).
4.1*	-	Form of Certificate representing Common Stock of Pioneer Energy Services Corp. (Form 10-Q dated August 7, 2012 (File No. 1-8182, Exhibit 4.1)).
4.2*	-	Indenture, dated March 18, 2014, by and among Pioneer Energy Services Corp., the subsidiaries named as guarantors therein and Wells Fargo Bank, National Association, as trustee (Form 8-K dated March 18, 2014 (File No. 1-8182, Exhibit 4.1)).
4.3*	-	Registration Rights Agreement, dated March 18, 2014, by and among Pioneer Energy Services Corp., the subsidiaries named as guarantors therein and the initial purchasers party thereto (Form 8-K dated March 18, 2014 (File No. 1-8182, Exhibit 10.1)).
10.1+*		Pioneer Energy Services Corp. Amended and Restated 2007 Incentive Plan (Appendix A of definitive proxy statement on Schedule 14A dated April 16, 2019 (File No. 1-8182)).
31.1**	-	Certification by Wm. Stacy Locke, President and Chief Executive Officer, pursuant to Rule 13a-14(a) or Rule 15d-14(a) under the Securities Exchange Act of 1934.
31.2**	-	Certification by Lorne E. Phillips, Executive Vice President and Chief Financial Officer, pursuant to Rule 13a-14(a) or Rule 15d-14(a) under the Securities Exchange Act of 1934.
32.1#	-	Certification by Wm. Stacy Locke, President and Chief Executive Officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2#	-	Certification by Lorne E. Phillips, Executive Vice President and Chief Financial Officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS	-	XBRL Instance Document
101.SCH	-	XBRL Taxonomy Schema Document
101.CAL	-	XBRL Calculation Linkbase Document
101.LAB	-	XBRL Label Linkbase Document
101.PRE	-	XBRL Presentation Linkbase Document
101.DEF	-	XBRL Definition Linkbase Document
*	Incorporated by reference to the filing indicated.
**	Filed herewith.
#	Furnished herewith.
+	Management contract or compensatory plan or arrangement.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

PIONEER ENERGY SERVICES CORP.

/s/ Lorne E. Phillips

Lorne E. Phillips

Executive Vice President and Chief Financial Officer

(Principal Financial Officer and Duly Authorized Officer)

Dated: July 31, 2019

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EX-31.1

Exhibit 31.1

I, Wm. Stacy Locke, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Pioneer Energy Services Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

July 31, 2019

/s/ Wm. Stacy Locke

Wm. Stacy Locke

President and Chief Executive Officer

EX-31.2

Exhibit 31.2

I, Lorne E. Phillips, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Pioneer Energy Services Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

July 31, 2019

/s/ Lorne E. Phillips

Lorne E. Phillips

Executive Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

Officer’s Certification Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

(18 U.S.C 1350)

In connection with the Quarterly Report on Form 10-Q of Pioneer Energy Services Corp., a Texas corporation, (the “Company”) for the quarter ended June 30, 2019 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned, Wm. Stacy Locke, President and Chief Executive Officer, hereby certifies, pursuant to 18 U.S.C. Section 1350, that, to the best of his knowledge:

(1) The Report is in full compliance with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated:	July 31, 2019	/s/ Wm. Stacy Locke
		Wm. Stacy Locke
		President and Chief Executive Officer

EX-32.2

Exhibit 32.2

Officer’s Certification Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

(18 U.S.C 1350)

In connection with the Quarterly Report on Form 10-Q of Pioneer Energy Services Corp., a Texas corporation, (the “Company”) for the quarter ended June 30, 2019 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned, Lorne E. Phillips, Executive Vice President and Chief Financial Officer, hereby certifies, pursuant to 18 U.S.C. Section 1350, that, to the best of his knowledge:

(1) The Report is in full compliance with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated:	July 31, 2019	/s/ Lorne E. Phillips
		Lorne E. Phillips
		Executive Vice President and Chief Financial Officer

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Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 15, 2019
Document and Entity Information
Entity Registrant Name	PIONEER ENERGY SERVICES CORP.
Entity Central Index Key	0000320575
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		79,202,216

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Condensed Consolidated Balance Sheet - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 30,132	$ 53,566
Restricted cash	998	998
Receivables:
Trade, net of allowance for doubtful accounts	90,288	76,924
Unbilled receivables	24,691	24,822
Insurance recoveries	22,902	23,656
Other receivables	7,691	5,479
Inventory	22,800	18,898
Assets held for sale	5,962	3,582
Prepaid expenses and other current assets	7,061	7,109
Total current assets	212,525	215,034
Property and equipment, at cost	1,121,703	1,118,215
Less accumulated depreciation	620,860	593,357
Net property and equipment	500,843	524,858
Operating lease assets	8,775	0
Other noncurrent assets	1,526	1,658
Total assets	723,669	741,550
Current liabilities:
Accounts payable	41,019	34,134
Deferred revenues	1,420	1,722
Accrued expenses:
Payroll and related employee costs	19,484	24,598
Insurance claims and settlements	22,637	23,593
Insurance premiums and deductibles	4,989	5,482
Interest	5,754	6,148
Other	10,697	9,091
Total current liabilities	106,000	104,768
Long-term debt, less unamortized discount and debt issuance costs	466,093	464,552
Noncurrent operating lease liabilities	6,495	0
Deferred income taxes	4,913	3,688
Other noncurrent liabilities	1,823	3,484
Total liabilities	585,324	576,492
Commitments and contingencies (Note 11)
Shareholders' equity:
Preferred stock, 10,000,000 shares authorized; none issued and outstanding	0	0
Common stock $.10 par value; 200,000,000 shares authorized; 79,121,204 and 78,214,550 shares outstanding at June 30, 2019 and December 31, 2018, respectively	8,000	7,900
Additional paid-in capital	551,642	550,548
Treasury stock, at cost; 877,047 and 789,532 shares at June 30, 2019 and December 31, 2018, respectively	(5,090)	(4,965)
Accumulated deficit	(416,207)	(388,425)
Total shareholders' equity	138,345	165,058
Total liabilities and shareholders' equity	$ 723,669	$ 741,550

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Consolidated Balance Sheet (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares outstanding	79,121,204	78,214,550
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Treasury stock, shares	877,047	789,532

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Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Revenues	$ 152,843	$ 154,782	$ 299,411	$ 299,260
Costs and expenses:
Operating costs	115,970	114,197	224,555	216,963
Depreciation	22,851	23,287	45,504	47,034
General and administrative	18,028	24,829	37,786	44,023
Bad debt recovery, net	(348)	(370)	(286)	(422)
Impairment	332	2,368	1,378	2,368
Gain on dispositions of property and equipment, net	(1,126)	(726)	(2,201)	(1,061)
Total costs and expenses	155,707	163,585	306,736	308,905
Loss from operations	(2,864)	(8,803)	(7,325)	(9,645)
Other income (expense):
Interest expense, net of interest capitalized	(10,105)	(9,642)	(19,990)	(19,155)
Other income, net	349	44	1,033	548
Total other expense, net	(9,756)	(9,598)	(18,957)	(18,607)
Loss before income taxes	(12,620)	(18,401)	(26,282)	(28,252)
Income tax (expense) benefit	(324)	249	(1,777)	(1,039)
Net loss	$ (12,944)	$ (18,152)	$ (28,059)	$ (29,291)
Loss per common share - Basic	$ (0.17)	$ (0.23)	$ (0.36)	$ (0.38)
Loss per common share - Diluted	$ (0.17)	$ (0.23)	$ (0.36)	$ (0.38)
Weighted average number of shares outstanding - Basic	78,430	77,944	78,371	77,776
Weighted average number of shares outstanding - Diluted	78,430	77,944	78,371	77,776

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Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Treasury Stock, Shares			(631,000)
Common stock, shares, outstanding at Dec. 31, 2017		78,350,000
Beginning Balance, value at Dec. 31, 2017	$ 210,096	$ 7,835	$ (4,416)	$ 546,158	$ (339,481)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Net loss	(11,139)				(11,139)
Purchase of treasury stock, shares			(28,000)
Purchase of treasury stock, value	(96)		$ (96)
Issuance of restricted stock, shares		105,000
Issuance of restricted stock, value		$ 10		(10)
Stock-based compensation expense	1,259			1,259
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | Accounting Standards Update 2014-09 [Member]	67				67
Common stock, shares, outstanding at Mar. 31, 2018		78,455,000
Ending Balance, value at Mar. 31, 2018	200,187	$ 7,845	(4,512)	547,407	(350,553)
Common stock, shares, outstanding at Dec. 31, 2017		78,350,000
Beginning Balance, value at Dec. 31, 2017	210,096	$ 7,835	(4,416)	546,158	(339,481)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Net loss	(29,291)
Common stock, shares, outstanding at Jun. 30, 2018		79,005,000
Ending Balance, value at Jun. 30, 2018	182,691	$ 7,900	$ (4,965)	548,461	(368,705)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Treasury Stock, Shares			(659,000)
Common stock, shares, outstanding at Mar. 31, 2018		78,455,000
Beginning Balance, value at Mar. 31, 2018	200,187	$ 7,845	$ (4,512)	547,407	(350,553)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Net loss	(18,152)				(18,152)
Exercise of options and related income tax effect, shares		3,000
Exercise of options and related income tax effect, value	12			12
Purchase of treasury stock, shares			(131,000)
Purchase of treasury stock, value	(453)		$ (453)
Issuance of restricted stock, shares		547,000
Issuance of restricted stock, value		$ 55		(55)
Stock-based compensation expense	1,097			1,097
Common stock, shares, outstanding at Jun. 30, 2018		79,005,000
Ending Balance, value at Jun. 30, 2018	$ 182,691	$ 7,900	$ (4,965)	548,461	(368,705)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Treasury Stock, Shares			(790,000)
Treasury Stock, Shares			(790,000)
Common stock, shares, outstanding at Dec. 31, 2018	78,214,550	79,005,000
Beginning Balance, value at Dec. 31, 2018	$ 165,058	$ 7,900	$ (4,965)	550,548	(388,425)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Net loss	(15,115)				(15,115)
Purchase of treasury stock, shares			(84,000)
Purchase of treasury stock, value	(120)		$ (120)
Issuance of restricted stock, shares		326,000
Issuance of restricted stock, value		$ 33		(33)
Stock-based compensation expense	867			867
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | Accounting Standards Update 2016-02 [Member]	277				277
Common stock, shares, outstanding at Mar. 31, 2019		79,331,000
Ending Balance, value at Mar. 31, 2019	$ 150,967	$ 7,933	(5,085)	551,382	(403,263)
Common stock, shares, outstanding at Dec. 31, 2018	78,214,550	79,005,000
Beginning Balance, value at Dec. 31, 2018	$ 165,058	$ 7,900	(4,965)	550,548	(388,425)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Net loss	$ (28,059)
Common stock, shares, outstanding at Jun. 30, 2019	79,121,204	79,998,000
Ending Balance, value at Jun. 30, 2019	$ 138,345	$ 8,000	$ (5,090)	551,642	(416,207)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Treasury Stock, Shares			(874,000)
Common stock, shares, outstanding at Mar. 31, 2019		79,331,000
Beginning Balance, value at Mar. 31, 2019	150,967	$ 7,933	$ (5,085)	551,382	(403,263)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Net loss	(12,944)				(12,944)
Purchase of treasury stock, shares			(3,000)
Purchase of treasury stock, value	(5)		$ (5)
Issuance of restricted stock, shares		667,000
Issuance of restricted stock, value		$ 67		(67)
Stock-based compensation expense	$ 327			327
Common stock, shares, outstanding at Jun. 30, 2019	79,121,204	79,998,000
Ending Balance, value at Jun. 30, 2019	$ 138,345	$ 8,000	$ (5,090)	$ 551,642	$ (416,207)
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Treasury Stock, Shares			(877,000)

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Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net loss	$ (28,059)	$ (29,291)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	45,504	47,034
Allowance for doubtful accounts, net of recoveries	(286)	(422)
Gain on dispositions of property and equipment, net	(2,201)	(1,061)
Stock-based compensation expense	1,194	2,356
Phantom stock compensation expense	51	6,529
Amortization of debt issuance costs and discount	1,541	1,422
Impairment	1,378	2,368
Deferred income taxes	1,225	273
Change in other noncurrent assets	1,476	(199)
Change in other noncurrent liabilities	(2,493)	(10,009)
Changes in current assets and liabilities:
Receivables	(14,858)	(12,368)
Inventory	(3,864)	(3,662)
Prepaid expenses and other current assets	(108)	(785)
Accounts payable	10,697	5,858
Deferred revenues	(302)	619
Accrued expenses	(6,849)	8,463
Net cash provided by operating activities	4,046	17,125
Cash flows from investing activities:
Purchases of property and equipment	(31,382)	(31,485)
Proceeds from sale of property and equipment	3,439	2,225
Proceeds from insurance recoveries	588	541
Net cash used in investing activities	(27,355)	(28,719)
Cash flows from financing activities:
Proceeds from exercise of options	0	12
Purchase of treasury stock	(125)	(549)
Net cash used in financing activities	(125)	(537)
Net decrease in cash, cash equivalents and restricted cash	(23,434)	(12,131)
Beginning cash, cash equivalents, and restricted cash	54,564	75,648
Ending cash, cash equivalents, and restricted cash	31,130	63,517
Supplementary disclosure:
Interest paid	18,832	18,073
Income tax paid	2,156	1,789
Change in capital expenditure accruals	$ (3,766)	$ 2,440

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Organization and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Summary of Significant Accounting Policies

Organization and Summary of Significant Accounting Policies

Business

Pioneer Energy Services Corp. provides land-based drilling services and production services to a diverse group of oil and gas exploration and production companies in the United States and internationally in Colombia.

Our drilling services business segments provide contract land drilling services through three domestic divisions which are located in the Marcellus/Utica, Permian Basin and Eagle Ford, and Bakken regions, and internationally in Colombia. We provide a comprehensive service offering which includes the drilling rig, crews, supplies and most of the ancillary equipment needed to operate our drilling rigs. Our drilling rigs are equipped with 1,500 horsepower or greater drawworks, are 100% pad-capable and offer the latest advancements in pad drilling. The following table summarizes our current rig fleet count and composition for each drilling services business segment:

	Multi-well, Pad-capable
	AC rigs	SCR rigs	Total
Domestic drilling	17	—	17
International drilling	—	8	8
			25

Our production services business segments provide a range of well, wireline and coiled tubing servicesto a diverse group of exploration and production companies, with our operations concentrated in the major domestic onshore oil and gas producing regions in the Gulf Coast, Mid-Continent and Rocky Mountain states. As of June 30, 2019, the fleet count for each of our production services business segments are as follows:

	550 HP	600 HP	Total
Well servicing rigs, by horsepower (HP) rating	113	12	125
			Total
Wireline services units			95
Coiled tubing services units			9

Basis of Presentation

The accompanyingunaudited condensed consolidatedfinancial statements include the accounts of Pioneer Energy Services Corp. and our wholly owned subsidiaries.All intercompany balances and transactions have been eliminated in consolidation.The accompanyingunaudited condensed consolidatedfinancial statements have been prepared in accordance with accounting principles generally accepted in the United States of Americafor interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of our management, all adjustments (consisting of normal, recurring accruals) necessary for a fair presentation have been included. We suggest that you read theseunaudited condensed consolidatedfinancial statements together with the consolidated financial statements and the related notes included in our annual report on Form 10-K for the year endedDecember 31, 2018.

Use of Estimates — In preparing the accompanyingunaudited condensed consolidatedfinancial statements, we make various estimates and assumptions that affect the amounts of assets and liabilities we report as of the dates of the balance sheets and income and expenses we report for the periods shown in the income statements and statements of cash flows.Our actual results could differ significantly from those estimates.Material estimates that are particularly susceptible to significant changes in the near term relate to our estimates of certain variable revenues and amortization periods of certain deferred revenues and costs associated with drilling daywork contacts, our estimates of projected cash flows and fair values for impairment evaluations, our estimate of the valuation allowance for deferred tax assets, our estimate of the liability relating to the self-insurance portion of our health and workers’ compensation insurance and our estimate of compensation related accruals.

Subsequent Events — In preparing the accompanyingunaudited condensed consolidatedfinancial statements, we have reviewed events that have occurred afterJune 30, 2019, through the filing of thisForm 10-Q, for inclusion as necessary.

Reclassifications—Certain amounts in the unaudited condensed consolidated financial statements for the prior year periods have been reclassified to conform to the current year’s presentation.

Change in Accounting Principle and Recently Issued Accounting Standards

Changes to accounting principles generally accepted in the United States of America (“U.S. GAAP”) are established by the Financial Accounting Standards Board (FASB) in the form of Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification (ASC). We consider the applicability and impact of all ASUs. Any ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact on our consolidated financial position and results of operations.

Leases.In February 2016, the FASB issued ASU No. 2016-02, Leases, which among other things, requires lessees to recognize substantially all leases on the balance sheet, with expense recognition that is similar to the former lease standard, and aligns the principles of lessor accounting with the principles of the FASB’s new revenue guidance in ASC Topic 606. In July 2018, the FASB issued ASU No. 2018-11, Leases: Targeted Improvements, which provides an option to apply the guidance prospectively, and provides a practical expedient allowing lessors to combine the lease and non-lease components of revenues where the revenue recognition pattern is the same and where the lease component, when accounted for separately, would be considered an operating lease. The practical expedient also allows a lessor to account for the combined lease and non-lease components under ASC Topic 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined component.

As a lessor, we elected to apply the practical expedient which allows us to continue to recognize our revenues (both lease and service components) under ASC Topic 606, and continue to present them as one revenue stream in ourunaudited condensed consolidatedstatements of operations. As a lessee, this standard primarily impacts our accounting for long-term real estate and office equipment leases, for which we recognized an operating lease asset and a corresponding operating lease liability on ourunaudited condensed consolidatedbalance sheet of$9.8 millionat the adoption date of January 1, 2019. For leases that commenced prior to adoption of ASC Topic 842, we elected to apply the package of practical expedients which allows us to carry forward the historical lease classification. The adoption of ASC Topic 842 also resulted in a cumulative effect adjustment of$0.3 millionafter applicable income taxes, related to the write off of previously unamortized deferred lease liabilities at the date of adoption. For more information about the accounting under ASC Topic 842, and disclosures under the new standard, see Note3, Leases.

Additional Detail of Account Balances

Cash Equivalents and Restricted Cash — Cash equivalents at June 30, 2019 and December 31, 2018 were $11.8 million and $40.6 million, respectively, consisting of investments in highly-liquid money-market mutual funds. Our restricted cash balance reflects the portion of net proceeds from the issuance of our senior secured term loan which are currently held in a restricted account until the completion of certain administrative tasks related to providing access rights to certain of our real property.

Other Receivables — Our other receivables primarily consist of recoverable taxes related to our international operations, as well as net income and sales tax receivables.

Prepaid Expenses and Other Current Assets —Prepaid expenses and other current assets include items such as insurance, rent deposits, software subscriptions and other fees. We routinely expense these items in the normal course of business over the periods that we benefit from these expenses. Prepaid expenses and other current assets also include deferred mobilization costs for short-term drilling contracts.

Other Noncurrent Assets— Other noncurrent assets consist of deferred mobilization costs on long-term drilling contracts, cash deposits related to the deductibles on our workers’ compensation insurance policies, and deferred compensation plan investments.

Other Accrued Expenses — Our other accrued expenses include accruals for items such as sales taxes, property taxes, withholding tax liability related to our international operations, and professional and other fees. We routinely expense these items in the normal course of business over the periods these expenses benefit. Our other accrued expenses also includes the current portion of the lease liability associated with our long-term operating leases.

Other Noncurrent Liabilities — Our other noncurrent liabilities consist of the noncurrent portion of deferred mobilization revenues and liabilities associated with our long-term compensation plans.

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Revenue from Contracts with Customers (Notes)

6 Months Ended

Jun. 30, 2019

Revenue from Contracts with Customers [Abstract]

Revenue from Contract with Customer [Text Block]

Revenue from Contracts with Customers

Our production services business segments earn revenues for well servicing, wireline services and coiled tubing services pursuant to master services agreements based on purchase orders or other contractual arrangements with the client. Production services jobs are generally short-term (ranging in duration from several hours to less than30days) and are charged at current market rates for the labor, equipment and materials necessary to complete the job.Production services jobs are varied in nature, but typically represent a single performance obligation, either for a particular job, a series of distinct jobs, or a period of time during which we stand ready to provide services as our client needs them. Revenue is recognized for these services over time, as the services are performed.

Our drilling services business segments earn revenues by drilling oil and gas wells for our clients under daywork contracts.Daywork contracts are comprehensive agreements under which we provide a comprehensive service offering, including the drilling rig, crew, supplies and most of the ancillary equipment necessary to operate the rig.Contract modifications that extend the term of a dayrate contract are generally accounted for prospectively as a separate dayrate contract.We account for our services provided under daywork contracts as a single performance obligation comprised of a series of distinct time increments which are satisfied over time. Accordingly, dayrate revenues are recognized in the period during which the services are performed.

With most drilling contracts, we also receive payments contractually designated for the mobilization and demobilization of drilling rigs and other equipment to and from the client’s drill site. Revenues associated with the mobilization and demobilization of our drilling rigs to and from the client’s drill site do not relate to a distinct good or service and are recognized ratably over the related contract term.

The amount of demobilization revenue that we ultimately collect is dependent upon the specific contractual terms, most of which include provisions for reduced (or no) payment for demobilization when, among other things, the contract is renewed or extended with the same client, or when the rig is subsequently contracted with another client prior to the termination of the current contract. Since revenues associated with demobilization activity are typically variable, at each period end, they are estimated at the most likely amount, and constrained when the likelihood of a significant reversal is probable. Any change in the expected amount of demobilization revenue is accounted for with the net cumulative impact of the change in estimate recognized in the period during which the revenue estimate is revised.

The upfront costs that we incur to mobilize the drilling rig to our client’s initial drilling site are capitalized and recognized ratably over the term of the related contract, including any contracted renewal or extension periods, which is our estimate of the period during which we expect to benefit from the cost of mobilizing the rig. Costs associated with the final demobilization at the end of the contract term are expensed when incurred, when the demobilization activity is performed.

We also act as a principal for certain reimbursable services and auxiliary equipment provided by us to our clients, for which we incur costs and earn revenues, many of which are variable, or dependent upon the activity that is actually performed each day under the related contract. Accordingly, reimbursements that we receive for out-of-pocket expenses are recorded as revenues and the out-of-pocket expenses for which they relate are recorded as operating costs during the period to which they relate within the series of distinct time increments.

All of our revenues are recognized net of sales taxes, when applicable.

Contract Asset and Liability Balances and Contract Cost Assets

Contract asset and contract liability balances relate to demobilization and mobilization revenues, respectively. Demobilization revenue that we expect to receive is recognized ratably over the related contract term, but invoiced upon completion of the demobilization activity. Mobilization revenue, which is typically collected upon the completion of the initial mobilization activity, is deferred and recognized ratably over the related contract term. Contract asset and liability balances are netted at the contract level, with the net current and noncurrent portions separately classified in ourcondensed consolidatedbalance sheets, and referred to herein as “deferred revenues.”

Contract cost assets represent the costs associated with the initial mobilization required in order to fulfill the contract, which are deferred and recognized ratably over the period during which we expect to benefit from the mobilization, or the period during which we expect to satisfy the performance obligations of the related contract. Contract cost assets are presented as either current or noncurrent, according to the duration of the original contract to which it relates, and referred to herein as “deferred costs.”

Our current and noncurrent deferred revenues and costs as ofJune 30, 2019 and December 31, 2018were as follows (amounts in thousands):

	June 30, 2019		December 31, 2018
Current deferred revenues	$	1,420	$	1,722
Current deferred costs	978		1,543
Noncurrent deferred revenues	$	313	$	437
Noncurrent deferred costs	581		679

The changes in deferred revenue and cost balances during the six months ended June 30, 2019 are primarily related to the amortization of deferred revenues and costs during the period, largely offset by increases related to the deployment of four domestic rigs and one international rig under new term contracts in 2019. Amortization of deferred revenues and costs during the three and six months ended June 30, 2019 and 2018 were as follows (amounts in thousands):

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Amortization of deferred revenues	$	1,280	$	542	$	2,235	$	1,041
Amortization of deferred costs	1,110		486		2,096		949

In February 2019, one of our domestic clients elected to early terminate their contract with us and make an upfront early termination payment based on a per day rate for the remaining term of the contract, resulting in $0.4 million of revenues associated with the 34 days that were remaining under the contract term. We subsequently placed this rig with another client. As of June 30, 2019, all but two of our 25 rigs are earning under daywork contracts, 14of which are domestic term contracts. Unlike our domestic term contracts, our international drilling contracts are cancelable by our clients without penalty, although the contracts require 15 to 30 days notice and payment for demobilization services.The spot contracts for our domestic drilling rigs are also terminable by our client with30days notice, but typically do not include a required payment for demobilization services.

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Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lessee, Operating Leases [Text Block]

Leases

As a drilling and production services provider, we provide the drilling rigs and production services equipment which are necessary to fulfill our performance obligations and which are considered leases under ASU No. 2016-02, Leases, (together with its amendments, herein referred to as “ASC Topic 842”). However, ASU No. 2018-11, Leases: Targeted Improvements, allows lessors to (i) combine the lease and non-lease components of revenues when the revenue recognition pattern is the same and when the lease component, when accounted for separately, would be considered an operating lease, and (ii) account for the combined lease and non-lease components under ASC Topic 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined component. We elected to apply this expedient and therefore continue to recognize our revenues (both lease and service components) under ASC Topic 606, and continue to present them as one revenue stream in our unaudited condensed consolidated statements of operations.

As a lessee, we lease our corporate office headquarters in San Antonio, Texas, and we conduct our business operations through27 other regional offices located throughout the United States and internationally in Colombia. These operating locations typically includeregional offices, storage and maintenance yards and employee housing sufficient to support our operations in the area. We lease most of these properties under non-cancelable term and month-to-month operating leases, many of which contain renewal options that can extend the lease term from one to five years and some of which contain escalation clauses. We also lease supplemental equipment, typically under cancelable short-term and very short term (less than 30 days) leases. Due to the nature of our business, any option to renew these short-term leases, and the options to extend certain of our long-term real estate leases, are generally not considered reasonably certain to be exercised. Therefore, the periods covered by such optional periods are not included in the determination of the term of the lease, and the lease payments during these periods are similarly excluded from the calculation of operating lease asset and lease liability balances.

In accordance with ASC Topic 842, we recognize an operating lease asset and a corresponding operating lease liability for all our long-term leases, which include real estate and office equipment leases, for which we elected to combine, or not separate, the lease and non-lease components, and therefore, all fixed charges associated with non-lease components are included in the lease payments and the calculation of the operating lease asset and associated lease liability. The operating lease asset and operating lease liability are discounted at the rate which represents our secured incremental borrowing rate, as most of our leases do not provide an implicit rate, and which we estimate based on the rate in effect under our asset-based lending facility.

We recognize rent expense on a straight-line basis, except for certain variable expenses which are recognized when the variability is resolved, typically during the period in which they are paid. Variable lease payments typically include charges for property taxes and insurance, and some leases contain variable payments related to non-lease components, including common area maintenance and usage of office equipment (for example, copiers), which totaled approximately $0.3 million and $0.6 million during the three and six months ended June 30, 2019. The following table summarizes our lease expense recognized for the three and six months ending June 30, 2019, excluding variable lease costs (amounts in thousands):

	Three months ended June 30,		Six months ended June 30,
	2019		2019
Long-term operating lease expense	$	829	$	1,671
Short-term operating lease expense	$	4,333	$	7,736

The following table summarizes the amount and timing of our obligations associated with our long-term operating leases (amounts in thousands):

	June 30, 2019			December 31, 2018
Within 1 year	$	2,659		$	3,318
In the second year	1,964			2,032
In the third year	1,658			1,721
In the fourth year	1,358			1,407
In the fifth year	905			1,110
Thereafter	1,268			1,738
Total undiscounted lease obligations	$	9,812		$	11,326
Impact of discounting	(995		)
Discounted value of operating lease obligations	$	8,817
Current operating lease liabilities	$	2,322
Noncurrent operating lease liabilities	6,495
	$	8,817

The following table summarizes the weighted-average remaining lease term and discount rate associated with our long-term operating leases:

	June 30, 2019
Weighted-average remaining lease term (in years)	4.8
Weighted-average discount rate	4.5	%

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Property and Equipment

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Property and Equipment

Capital Expenditures — Our capital expenditures were $27.6 million and $33.9 million during the six months ended June 30, 2019 and 2018, respectively. Capital expenditures during the six months ended June 30, 2019 primarily related to various upgrades and refurbishments of our drilling and production services fleets, various vehicle and ancillary equipment purchases, and the completion of construction on our 17^th AC drilling rig which we deployed in March. Capital expenditures during the six months ended June 30, 2018 primarily related to various routine expenditures to maintain our fleets and purchase new support equipment, as well as the expansion of our wireline and coiled tubing fleets, vehicle fleet upgrades in all business segments, and capital projects to upgrade and refurbish certain of our international and domestic drilling rigs.

At June 30, 2019, capital expenditures incurred for property and equipment not yet placed in service was $6.0 million, primarily related to support equipment for our coiled tubing and drilling rig services fleets and capital projects to upgrade and refurbish certain components of our drilling rig fleet. At December 31, 2018, property and equipment not yet placed in service was $19.6 million, primarily related to approximately $8.0 million of costs for the construction of a new-build drilling rig, various refurbishments and upgrades of drilling and production services equipment, and the purchase of other new ancillary equipment.

Gain/Loss on Disposition of Property — During the six months ended June 30, 2019, we recognized a net gain of $2.2 million on the disposition of drill pipe and various other property and equipment, including some assets which were previously held for sale, as well as insurance proceeds received for damaged equipment. During the six months ended June 30, 2018, we recognized a net gain of $1.1 million on the disposition of various property and equipment, including the sale of six wireline units and one drilling rig, which was previously held for sale.

Assets Held for Sale — As of June 30, 2019, ourcondensed consolidatedbalance sheet reflects assets held for sale of $6.0 million, which includes the fair value of onedomestic SCR drilling rig, two coiled tubing units, 12 wireline units, spare support equipment, and buildings and yards for two closed wireline locations, both of which were designated as held for sale in the second quarter of 2019.As of December 31, 2018, ourcondensed consolidatedbalance sheet reflects assets held for sale of $3.6 million, which primarily represents the fair value of one domestic SCR drilling rig and related spare equipment and three coiled tubing units.

During thesix months ended June 30, 2019 and 2018, we recognized impairment charges of $1.4 million and $2.4 millionto reduce the carrying values of assets which were classified as held for sale, to their estimated fair values, based on expected sales prices which are classified as Level 3 inputs as defined by ASC Topic 820, Fair Value Measurements and Disclosures.

Impairments — In accordance with ASC Topic 360, Property, Plant and Equipment, we monitor all indicators of potential impairments, andconcluded there are no triggers present that require impairment testing as ofJune 30, 2019, other than the placement of certain assets as held for sale.

We evaluate for potential impairment of long-lived assets when indicators of impairment are present, which may include, among other things, significant adverse changes in industry trends (including revenue rates, utilization rates, oil and natural gas market prices, and industry rig counts).In performing an impairment evaluation, we estimate the future undiscounted net cash flows from the use and eventual disposition of the assets grouped at the lowest level that independent cash flows can be identified. We perform an impairment evaluation and estimate future undiscounted cash flows for each of our reporting units separately, which are our domestic drilling services, international drilling services, well servicing, wireline services and coiled tubing services segments.If the sum of the estimated future undiscounted net cash flows is less than the carrying amount of the asset group, then we determine the fair value of the asset group, and the amount of an impairment charge would be measured as the difference between the carrying amount and the fair value of the assets.

The most significant inputs used in our impairment analysis include the projected utilization and pricing of our services, as well as the estimated proceeds upon any future sale or disposal of the assets, all of which are classified as Level 3 inputs as defined by ASC Topic 820, Fair Value Measurements and Disclosures.The assumptions we use in the evaluation for impairment are inherently uncertain and require management judgment.Although we believe the assumptions and estimates used in our impairment analysis are reasonable, different assumptions and estimates could materially impact the analysis and resulting conclusions.

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Valuation Allowances on Deferred Tax Assets (Notes)

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Valuation Allowances on Deferred Tax Assets [Text Block]

Valuation Allowances on Deferred Tax Assets

Our deferred tax assets related to net operating losses, which are available to reduce future taxable income, consist of the following (amounts in thousands):

	June 30, 2019		December 31, 2018
Domestic net operating loss carryforward	$	100,110	$	96,777
Foreign net operating loss carryforward	8,083		9,582

The majority of our domestic net operating losses will begin to expire in 2030, while losses generated after 2017 are carried forward indefinitely but are limited in usage to 80% of taxable income. The majority of our foreign net operating losses are carried forward indefinitely, but losses generated after 2016 are carried forward for 12 years and will begin to expire in 2029.

We provide a valuation allowance when it is more likely than not that some portion of the deferred tax assets will not be realized.As result, as ofJune 30, 2019 and December 31, 2018, we had valuation allowances of $67.2 million and $62.6 million that offset a portion of our domestic and foreign net deferred tax assets.

Since 2017, market conditions and operating results for our Colombian operations have improved, and if they continue to improve, then we may determine that there is sufficient evidence that future taxable income will be generated to utilize our foreign deferred tax assets which would result in the reversal of the valuation allowance relating to our foreign deferred tax assets.

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Debt

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Long-term Debt

Debt

Our debt consists of the following (amounts in thousands):

	June 30, 2019			December 31, 2018
Senior secured term loan	$	175,000		$	175,000
Senior notes	300,000			300,000
	475,000			475,000
Less unamortized discount (based on imputed interest rate of 10.46%)	(2,278		)	(2,668		)
Less unamortized debt issuance costs	(6,629		)	(7,780		)
	$	466,093		$	464,552

Senior Secured Term Loan

Our senior secured term loan (the “Term Loan”) entered into on November 8, 2017 provided for one drawing in the amount of $175 million, net of a 2% original issue discount.Proceeds from the issuance of the Term Loan were used to repay the entire outstanding balance under our previous credit facility, plus fees and accrued and unpaid interest, as well as the fees and expenses associated with entering into the Term Loan and ABL Facility, which is further described below.The remainder of the proceeds are available to be used for other general corporate purposes.

The Term Loan is not subject to amortization payments of principal. Interest on the principal amount accrues at the LIBOR rate or the base rate as defined in the agreement, at our option, plus an applicable margin of 7.75% and 6.75%, respectively. The Term Loan is set to mature on November 8, 2022, or earlier, subject to certain circumstances as described in the agreement, and including an earlier maturity date if the outstanding balance of the Senior Notes exceeds $15.0 million on December 14, 2021, at which time the Term Loan would then mature. However, the Term Loan may be prepaid, at our option, at any time, in whole or in part, subject to a minimum of $5 million, and subject to a declining call premium as defined in the agreement.

The Term Loan contains a financial covenant requiring the ratio of (i) the net orderly liquidation value of our fixed assets (based on appraisals obtained as required by our lenders), on a consolidated basis, in which the lenders under the Term Loan maintain a first priority security interest, plus proceeds of asset dispositions not required to be used to effect a prepayment of the Term Loan to (ii) the outstanding principal amount of the Term Loan, to be at least equal to 1.50 to 1.00 as of any June 30 or December 31 of any calendar year through maturity.

The Term Loan contains customary mandatory prepayments from the proceeds of certain transactions including certain asset dispositions and debt issuances, and has additional customary restrictions that, among other things, and subject to certain exceptions, limit our ability to:

• incur additional debt;

• incur or permit liens on assets;

• make investments and acquisitions;

• consolidate or merge with another company;

• engage in asset sales; and

• pay dividends or make distributions.

In addition, the Term Loan contains customary events of default, upon the occurrence and during the continuation of any of which the applicable margin would increase by 2% per year, including without limitation:

• payment defaults;

• covenant defaults;

• material breaches of representations or warranties;

• event of default under, or acceleration of, other material indebtedness;

• bankruptcy or insolvency;

• material judgments against us;

• failure of any security document supporting the Term Loan; and

• change of control.

Our obligations under the Term Loan are guaranteed by our wholly-owned domestic subsidiaries, and are secured by substantially all of our domestic assets, in each case, subject to certain exceptions and permitted liens.

Asset-based Lending Facility

In addition to entering into the Term Loan, on November 8, 2017, we also entered into a senior secured revolving asset-based credit facility (the “ABL Facility”) providing for borrowings in the aggregate principal amount of up to $75 million, subject to a borrowing base and including a $30 million sub-limit for letters of credit. The ABL Facility bears interest, at our option, at the LIBOR rate or the base rate as defined in the ABL Facility, plus an applicable margin ranging from 1.75% to 3.25%, based on average availability on the ABL Facility.The ABL Facility requires a commitment fee due monthly based on the average monthly unused amount of the commitments of the lenders, a fronting fee due for each letter of credit issued, and a monthly letter of credit fee due based on the average undrawn amount of letters of credit outstanding during such period.The ABL Facility is generally set to mature 90 days prior to the maturity of the Term Loan, subject to certain circumstances, including the future repayment, extinguishment or refinancing of our Term Loan and/or Senior Notes prior to their respective maturity dates. Availability under the ABL Facility is determined by reference to a borrowing base as defined in the agreement, generally comprised of a percentage of our accounts receivable and inventory.

We have not drawn upon the ABL Facilityto date. As ofJune 30, 2019, we had $9.7 million in committed letters of credit, which, after borrowing base limitations, resulted in borrowing availability of $59.8 million. Borrowings available under the ABL Facility are available for general corporate purposes, and there are no limitations on our ability to access the borrowing capacity provided there is no default and compliance with the covenants under the ABL Facility is maintained.Additionally, if our availability under the ABL Facility is less than 15% of the maximum amount (or$11.25 million), we are required to maintain a minimum fixed charge coverage ratio, as defined in the ABL Facility, of at least 1.00 to 1.00, measured on a trailing 12 month basis.

The ABL Facility also contains customary restrictive covenants which, subject to certain exceptions, limit, among other things, our ability to:

• declare dividends and make other distributions;

• issue or sell certain equity interests;

• optionally prepay, redeem or repurchase certain of our subordinated indebtedness;

• make loans or investments (including acquisitions);

• incur additional indebtedness or modify the terms of permitted indebtedness;

• grant liens;

• change our business or the business of our subsidiaries;

• merge, consolidate, reorganize, recapitalize, or reclassify our equity interests;

• sell our assets, and

• enter into certain types of transactions with affiliates.

Our obligations under the ABL Facility are guaranteed by us and our domestic subsidiaries, subject to certain exceptions, and are secured by (i) a first-priority perfected security interest in all inventory and cash, and (ii) a second-priority perfected security in substantially all of our tangible and intangible assets, in each case, subject to certain exceptions and permitted liens.

Senior Notes

In 2014, we issued $300 million of unregistered senior notes at face value, with a coupon interest rate of 6.125% that are due in 2022 (the “Senior Notes”). The Senior Notes will mature on March 15, 2022 with interest due semi-annually in arrears on March 15 and September 15 of each year. We have the option to redeem the Senior Notes, in whole or in part, in each case at the redemption price specified in the Indenture dated March 18, 2014 (the “Indenture”) plus any accrued and unpaid interest and any additional interest (as defined in the Indenture) thereon to the date of redemption.

In accordance with a registration rights agreement with the holders of our Senior Notes, we filed an exchange offer registration statement on Form S-4 with the Securities and Exchange Commission that became effective on October 2, 2014. The exchange offer registration statement enabled the holders of our Senior Notes to exchange their senior notes for publicly registered notes with substantially identical terms. References to the “Senior Notes” herein include the senior notes issued in the exchange offer.

If we experience a change of control (as defined in the Indenture), we will be required to make an offer to each holder of the Senior Notes to repurchase all or any part of the Senior Notes at a purchase price equal to101%of the principal amount of each Senior Note, plus accrued and unpaid interest, if any, to the date of repurchase. If we engage in certain asset sales, within 365 days of such sale we will be required to use the net cash proceeds from such sale, to the extent we do not reinvest those proceeds in our business, to make an offer to repurchase the Senior Notes at a price equal to100%of the principal amount of each Senior Note, plus accrued and unpaid interest to the repurchase date.

The Indenture, among other things, limits us and certain of our subsidiaries, subject to certain exceptions, in our ability to:

• pay dividends on stock, repurchase stock, redeem subordinated indebtedness or make other restricted payments and investments;

• incur, assume or guarantee additional indebtedness or issue preferred or disqualified stock;

• create liens on our or their assets;

• enter into sale and leaseback transactions;

• sell or transfer assets;

• borrow, pay dividends, or transfer other assets from certain of our subsidiaries;

• consolidate with or merge with or into, or sell all or substantially all of our properties to any other person;

• enter into transactions with affiliates; and

• enter into new lines of business.

The Senior Notes are not subject to any sinking fund requirements. The Senior Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by certain of our existing domestic subsidiaries and by certain of our future domestic subsidiaries. (See Note 12, Guarantor/Non-Guarantor Condensed Consolidated Financial Statements.)

Debt Issuance Costs and Original Issue Discount

Costs incurred in connection with the issuance of our Senior Notes were capitalized and are being amortized using the effective interest method over the term of the Senior Notes which mature in March 2022. The original issue discount and costs incurred in connection with the issuance of the Term Loan were capitalized and are being amortized using the effective interest method over the expected term of the agreement. Costs incurred in connection with the ABL Facility were capitalized and are being amortized using the straight-line method over the expected term of the agreement.

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Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The FASB’s Accounting Standards Codification (ASC) Topic 820, Fair Value Measurements and Disclosures, defines fair value and provides a hierarchal framework associated with the level of subjectivity used in measuring assets and liabilities at fair value. Our financial instruments consist primarily of cash and cash equivalents, trade and other receivables, trade payables, phantom stock unit awards and long-term debt.

The carrying value of cash and cash equivalents, trade and other receivables, and trade payables are considered to be representative of their respective fair values due to the short-term nature of these instruments. At June 30, 2019 and December 31, 2018, the aggregate estimated fair value of our phantom stock unit awards was $0.8 million and $5.1 million, respectively, for which the vested portion recognized as a liability in our condensed consolidated balance sheets was $0.2 million and $3.6 million, respectively. The phantom stock unit awards, and the measurement of fair value for these awards, are described in more detail in Note 9, Stock-Based Compensation Plans.

The fair value of our Senior Notes is estimated based on recent observable market prices for our debt instruments, which are defined by ASC Topic 820 as Level 2 inputs. The fair value of our Term Loan is based on estimated market pricing for our debt instrument, which is defined by ASC Topic 820 as using Level 3 inputs which are unobservable and therefore more likely to be affected by changes in assumptions. The following table presents supplemental fair value information and carrying value for our debt, net of discount and debt issuance costs (amounts in thousands):

		June 30, 2019				December 31, 2018
	Hierarchy Level	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Senior notes	2	$	297,411	$	141,000	$	296,988	$	186,750
Senior secured term loan	3	168,682		$	166,250	167,564		175,875
		$	466,093	$	307,250	$	464,552	$	362,625

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Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings (loss) Per Common Share

Earnings (Loss) Per Common Share

The following table presents a reconciliation of the numerators and denominators of the basic earnings per share and diluted earnings per share computations (amounts in thousands, except per share data):

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Numerator (both basic and diluted):
Net loss	$	(12,944	)	$	(18,152	)	$	(28,059	)	$	(29,291	)
Denominator:
Weighted-average shares (denominator for basic earnings (loss) per share)	78,430			77,944			78,371			77,776
Dilutive effect of outstanding stock options, restricted stock and restricted stock unit awards	—			—			—			—
Denominator for diluted earnings (loss) per share	78,430			77,944			78,371			77,776
Loss per common share - Basic	$	(0.17	)	$	(0.23	)	$	(0.36	)	$	(0.38	)
Loss per common share - Diluted	$	(0.17	)	$	(0.23	)	$	(0.36	)	$	(0.38	)
Potentially dilutive securities excluded as anti-dilutive	4,858			4,055			3,709			5,015

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Stock-Based Compensation Plans

6 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [Abstract]

Equity Transactions and Stock-Based Compensation Plans

Stock-Based Compensation Plans

We grant stock option and restricted stock awards with vesting based on time of service conditions. We grant restricted stock unit awards with vesting based on time of service conditions, and in certain cases, subject to performance and market conditions. We grant phantom stock unit awards with vesting based on time of service, performance and market conditions, which are classified as liability awards under ASC Topic 718, Compensation—Stock Compensation since we expect to settle the awards in cash when they become vested.

We recognize compensation cost for our stock-based compensation awards based on the fair value estimated in accordance with ASC Topic 718, Compensation—Stock Compensation, and we recognize forfeitures when they occur.For our awards with graded vesting, we recognize compensation expense on a straight-line basis over the service period for each separately vesting portion of the award as if the award was, in substance, multiple awards.The following table summarizes the stock-based compensation expense recognized, by award type, and the compensation expense (benefit) recognized for phantom stock unit awards during thethree and six months ended June 30, 2019 and 2018 (amounts in thousands):

	Three months ended June 30,					Six months ended June 30,
	2019			2018		2019		2018
Stock option awards	$	23		$	99	$	74	$	241
Restricted stock awards	121			115		235		228
Restricted stock unit awards	183			883		885		1,887
	$	327		$	1,097	$	1,194	$	2,356
Phantom stock unit awards	$	(797	)	$	6,099	$	51	$	6,529

Stock Option Awards

We grant stock option awards which generally become exercisable over athree-year period and expire tenyears after the date of grant. Our stock-based compensation plans require that all stock option awards have an exercise price that is not less than the fair market value of our common stock on the date of grant. We issue shares of our common stock when vested stock option awards are exercised. We estimate the fair value of each option grant on the date of grant using a Black-Scholes option pricing model. We did not grant any stock option awards during the six months ended June 30, 2019 or 2018.

Restricted Stock and Restricted Stock Unit Awards

We grant restricted stock awards that vest over aone-year period with a fair value based on the closing price of our common stock on the date of the grant.When restricted stock awards are granted, or when restricted stock unit awards are converted to restricted stock, shares of our common stock are considered issued, but subject to certain restrictions.

We grant restricted stock unit awards with vesting based on time of service conditions only (“time-based RSUs”), and we grant restricted stock unit awards with vesting based on time of service, which are also subject to performance and market conditions (“performance-based RSUs”). Shares of our common stock are issued to recipients of restricted stock units only when they have satisfied the applicable vesting conditions.

There were no performance-based restricted stock unit awards granted during the six months ended June 30, 2019 or 2018. The following table summarizes the number and weighted-average grant-date fair value of the restricted stock and time-based restricted stock unit awards granted during the three and six months ended June 30, 2019 and 2018:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Restricted Stock:
Restricted stock awards granted	648,100		78,632		648,100		78,632
Weighted-average grant-date fair value (per share)	$	0.79	$	5.85	$	0.79	$	5.85
Time-based RSUs:
Time-based RSUs granted	—		—		870,648		788,377
Weighted-average grant-date fair value (per unit)	$	—	$	—	$	1.38	$	3.85

Our time-based RSUs generally vest over athree-year period, with fair values based on the closing price of our common stock on the date of grant.Our performance-based RSUs cliff vest at 39months from the date of grant and are granted at a target number of issuable shares, for which the final number of shares of common stock is adjusted based on our actual achievement levels that are measured against predetermined performance conditions. The number of shares of common stock awarded will be based upon the Company’s achievement in certain performance conditions, as compared to a predefined peer group, over the performance period, generallythree years.As ofJune 30, 2019, we estimate that the achievement level for our outstanding performance-based RSUs granted in 2017 will be approximately80%of the predetermined performance conditions.

Phantom Stock Unit Awards

We grant phantom stock unit awards with vesting based on time of service, performance and market conditions.Time-based phantom stock unit awards, which were granted in 2019, vest annually in thirds over a three-year vesting period. Performance-based phantom stock unit awards, which were granted in 2016, 2018 and 2019, cliff-vest after39months from the date of grant, with vesting based on time of service, performance and market conditions.The number of performance-based units ultimately awarded will be based upon the Company’s achievement in certain performance conditions, as compared to a predefined peer group, over the respectivethree-year performance periods. Each unit awarded will entitle the employee to a cash payment equal to the stock price of our common stock on the date of vesting, subject to an applicable maximum payout feature that is based on a multiple of the grant date stock price.

The fair value of time-based phantom stock unit awards is measured using a Black-Scholes pricing model and the fair value of performance-based phantom stock unit awards is measured using a Monte Carlo simulation model, with inputs that are defined as Level 3 inputs under ASC Topic 820, Fair Value Measurements and Disclosures.

There were no phantom stock unit awards granted during the three months ended June 30, 2019 or 2018. The following table summarizes the number, weighted-average grant-date fair value, and applicable maximum cash value of the phantom stock unit awards granted during the six months ended June 30, 2019 and 2018:

	Six months ended June 30,
	2019		2018
Performance-based:
Phantom stock unit awards granted	2,467,776		1,188,216
Weighted-average grant-date fair value (per unit)	$	1.10	$	3.06
Maximum cash value per unit (three times the grant date stock price)	$	4.62	$	9.66
Time-based:
Phantom stock unit awards granted	810,648		—
Weighted-average grant-date fair value (per unit)	$	1.17	$	—
Maximum cash value per unit (three times the grant date stock price)	$	4.62	$	—

These awards are classified as liability awards under ASC Topic 718, Compensation—Stock Compensation, because we expect to settle the awards in cash when they vest, and are remeasured at fair value at the end of each reporting period until they vest. The change in fair value is recognized as a current period compensation expense in our condensed consolidated statements of operations.Therefore, changes in the inputs used to measure fair value can result in volatility in our compensation expense. This volatility increases as the phantom stock awards approach the vesting date.We estimate that a hypothetical increase of$1in the market price of our common stock, which was$0.25 as of June 30, 2019, if all other inputs were unchanged, would result in an increase in cumulative compensation expense of$1.0 million, which represents the hypothetical increase in fair value of the liability for the 2018 and 2019 phantom stock unit awards. The maximum payout feature of these awards would limit this volatility if the stock price exceeds the maximum payout threshold. As of June 30, 2019, we estimate the weighted-average achievement level for our outstanding phantom stock unit awards granted in 2018 and 2019 to be100%.

In April 2019, we determined that175%of the target number of phantom stock unit awards granted during 2016 were earned based on the Company’s achievement of the performance measures, as compared to the predefined peer group, which resulted in an aggregate cash payment of $3.5 millionto settle these awards.

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Segment Information

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Information

Segment Information

We have five operating segments, comprised of two drilling services business segments (domestic and international drilling) and three production services business segments (well servicing, wireline services and coiled tubing services), which reflects the basis used by management in making decisions regarding our business for resource allocation and performance assessment, as required by ASC Topic 280, Segment Reporting.

Our domestic and international drilling services segments provide contract land drilling services to a diverse group of exploration and production companies through our three drilling divisions in the US and internationally in Colombia.We provide a comprehensive service offering which includes the drilling rig, crews, supplies and most of the ancillary equipment needed to operate our drilling rigs.

Our well servicing, wireline services and coiled tubing services segments provide a range of production services to a diverse group of exploration and production companies, with our operations concentrated in the major domestic onshore oil and gas producing regions in the Gulf Coast, Mid-Continent and Rocky Mountain states.

The following tables set forth certain financial information for each of our segments and corporate (amounts in thousands):

	As of and for the three months ended June 30,				As of and for the six months ended June 30,
	2019		2018		2019		2018
Revenues:
Domestic drilling	$	39,652	$	35,634	$	77,661	$	71,560
International drilling	25,422		21,773		47,065		39,384
Drilling services	65,074		57,407		124,726		110,944
Well servicing	29,506		23,162		55,760		44,276
Wireline services	47,386		62,137		93,260		118,738
Coiled tubing services	10,877		12,076		25,665		25,302
Production services	87,769		97,375		174,685		188,316
Consolidated revenues	$	152,843	$	154,782	$	299,411	$	299,260
Operating costs:
Domestic drilling	$	24,698	$	21,749	$	47,167	$	42,647
International drilling	18,555		17,064		35,040		30,025
Drilling services	43,253		38,813		82,207		72,672
Well servicing	21,038		16,680		39,934		32,250
Wireline services	41,804		46,716		81,151		89,202
Coiled tubing services	9,875		11,988		21,263		22,839
Production services	72,717		75,384		142,348		144,291
Consolidated operating costs	$	115,970	$	114,197	$	224,555	$	216,963
Gross margin:
Domestic drilling	$	14,954	$	13,885	$	30,494	$	28,913
International drilling	6,867		4,709		12,025		9,359
Drilling services	21,821		18,594		42,519		38,272
Well servicing	8,468		6,482		15,826		12,026
Wireline services	5,582		15,421		12,109		29,536
Coiled tubing services	1,002		88		4,402		2,463
Production services	15,052		21,991		32,337		44,025
Consolidated gross margin	$	36,873	$	40,585	$	74,856	$	82,297
Identifiable Assets:
Domestic drilling (1)	$	365,477	$	380,355	$	365,477	$	380,355
International drilling (1) (2)	47,158		42,457		47,158		42,457
Drilling services	412,635		422,812		412,635		422,812
Well servicing	121,180		124,458		121,180		124,458
Wireline services	94,413		99,243		94,413		99,243
Coiled tubing services	37,292		31,889		37,292		31,889
Production services	252,885		255,590		252,885		255,590
Corporate	58,149		78,642		58,149		78,642
Consolidated identifiable assets	$	723,669	$	757,044	$	723,669	$	757,044
Depreciation:
Domestic drilling	$	10,888	$	10,139	$	21,433	$	20,588
International drilling	1,373		1,301		2,716		2,748
Drilling services	12,261		11,440		24,149		23,336
Well servicing	4,942		4,865		9,824		9,785
Wireline services	3,907		4,601		7,982		9,209
Coiled tubing services	1,531		2,114		3,059		4,146
Production services	10,380		11,580		20,865		23,140
Corporate	210		267		490		558
Consolidated depreciation	$	22,851	$	23,287	$	45,504	$	47,034

	As of and for the three months ended June 30,				As of and for the six months ended June 30,
	2019		2018		2019		2018
Capital Expenditures:
Domestic drilling	$	3,325	$	4,736	$	11,567	$	7,494
International drilling	524		1,213		2,282		3,913
Drilling services	3,849		5,949		13,849		11,407
Well servicing	2,141		3,403		6,036		5,452
Wireline services	1,588		4,917		4,423		8,590
Coiled tubing services	1,287		4,817		2,811		7,981
Production services	5,016		13,137		13,270		22,023
Corporate	376		251		497		495
Consolidated capital expenditures	$	9,241	$	19,337	$	27,616	$	33,925

(1) Identifiable assets for our drilling segments include the impact of a $38.6 million and $35.1 million intercompany balance, as of June 30, 2019 and 2018, respectively, between our domestic drilling segment (intercompany receivable) and our international drilling segment (intercompany payable).

(2) Identifiable assets for our international drilling segment include five drilling rigs that are owned by our Colombia subsidiary and three drilling rigs that are owned by one of our domestic subsidiaries and leased to our Colombia subsidiary.

The following table reconciles theconsolidated gross margin of our segments reported above to loss from operations as reported on the condensed consolidated statements of operations (amounts in thousands):

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Consolidated gross margin	$	36,873		$	40,585		$	74,856		$	82,297
Depreciation	(22,851		)	(23,287		)	(45,504		)	(47,034		)
General and administrative	(18,028		)	(24,829		)	(37,786		)	(44,023		)
Bad debt recovery, net	348			370			286			422
Impairment	(332		)	(2,368		)	(1,378		)	(2,368		)
Gain on dispositions of property and equipment, net	1,126			726			2,201			1,061
Loss from operations	$	(2,864	)	$	(8,803	)	$	(7,325	)	$	(9,645	)

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies

Commitments and Contingencies

In connection with our operations in Colombia, our foreign subsidiaries routinely obtain bonds for bidding on drilling contracts, performing under drilling contracts, and remitting customs and importation duties. We have guaranteed payments of $63.0 million relating to our performance under these bonds as of June 30, 2019. Based on historical experience and information currently available, we believe the likelihood of demand for payment under these bonds and guarantees is remote.

We are currently undergoing sales and use tax audits for multi-year periods.As ofJune 30, 2019 and December 31, 2018, our accrued liability was$1.8 million and $1.7 million, respectively, based on our estimate of the sales and use tax obligations that are expected to result from these audits. Due to the inherent uncertainty of the audit process, we believe that it is reasonably possible that we may incur additional tax assessments with respect to one or more of the audits in excess of the amount accrued. We believe that such an outcome would not have a material adverse effect on our results of operations or financial position. Because certain of these audits are in a preliminary stage, an estimate of the possible loss or range of loss from an adverse result in all or substantially all of these cases cannot reasonably be made.

Due to the nature of our business, we are, from time to time, involved in litigation or subject to disputes or claims related to our business activities, including workers’ compensation claims and employment-related disputes. Legal costs relating to these matters are expensed as incurred. In the opinion of our management, none of the pending litigation, disputes or claims against us will have a material adverse effect on our financial condition, results of operations or cash flow from operations.

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Guarantor/Non Guarantor Condensed Consolidating Financial Statements

6 Months Ended

Jun. 30, 2019

Guarantor Non-Guarantor Condensed Consolidated Financial Statements

Guarantor/Non Guarantor Condensed Consolidated Financial Statements

Guarantor/Non-Guarantor Condensed Consolidating Financial Statements

Our Senior Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by all existing 100% owned domestic subsidiaries, except for Pioneer Services Holdings, LLC. The subsidiaries that generally operate our non-U.S. business concentrated in Colombia do not guarantee our Senior Notes. The non-guarantor subsidiaries do not have any payment obligations under the Senior Notes, the guarantees or the Indenture.

In the event of a bankruptcy, liquidation or reorganization of any non-guarantor subsidiary, such non-guarantor subsidiary will pay the holders of its debt and other liabilities, including its trade creditors, before it will be able to distribute any of its assets to us. In the future, any non-U.S. subsidiaries, immaterial subsidiaries and subsidiaries that we designate as unrestricted subsidiaries under the Indenture will not guarantee the Senior Notes. As of June 30, 2019, there were no restrictions on the ability of subsidiary guarantors to transfer funds to the parent company.

As a result of the guarantee arrangements, we are presenting the following condensed consolidating balance sheets, statements of operations and statements of cash flows of the issuer, the guarantor subsidiaries and the non-guarantor subsidiaries.

CONDENSED CONSOLIDATING BALANCE SHEETS

(unaudited, in thousands)

	June 30, 2019
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	25,591		$	—	$	4,541		$	—		$	30,132
Restricted cash	998			—		—			—			998
Receivables, net of allowance	169			108,747		36,088			568			145,572
Intercompany receivable (payable)	(27,363		)	65,708		(38,345		)	—			—
Inventory	—			11,784		11,016			—			22,800
Assets held for sale	—			5,962		—			—			5,962
Prepaid expenses and other current assets	2,301			3,591		1,169			—			7,061
Total current assets	1,696			195,792		14,469			568			212,525
Net property and equipment	2,029			471,153		27,661			—			500,843
Investment in subsidiaries	570,070			31,020		—			(601,090		)	—
Deferred income taxes	43,490			—		—			(43,490		)	—
Operating lease assets	3,353			4,779		643			—			8,775
Other noncurrent assets	616			485		425			—			1,526
Total assets	$	621,254		$	703,229	$	43,198		$	(644,012	)	$	723,669
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	2,798		$	32,324	$	5,897		$	—		$	41,019
Deferred revenues	—			528		892			—			1,420
Accrued expenses	10,266			48,063		4,664			568			63,561
Total current liabilities	13,064			80,915		11,453			568			106,000
Long-term debt, less unamortized discount and debt issuance costs	466,093			—		—			—			466,093
Noncurrent operating lease liabilities	2,968			3,034		493			—			6,495
Deferred income taxes	—			48,403		—			(43,490		)	4,913
Other noncurrent liabilities	784			807		232			—			1,823
Total liabilities	482,909			133,159		12,178			(42,922		)	585,324
Total shareholders’ equity	138,345			570,070		31,020			(601,090		)	138,345
Total liabilities and shareholders’ equity	$	621,254		$	703,229	$	43,198		$	(644,012	)	$	723,669
	December 31, 2018
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	50,350		$	—	$	3,216		$	—		$	53,566
Restricted cash	998			—		—			—			998
Receivables, net of allowance	436			95,030		35,219			196			130,881
Intercompany receivable (payable)	(27,245		)	67,098		(39,853		)	—			—
Inventory	—			9,945		8,953			—			18,898
Assets held for sale	—			3,582		—			—			3,582
Prepaid expenses and other current assets	1,743			3,197		2,169			—			7,109
Total current assets	26,282			178,852		9,704			196			215,034
Net property and equipment	2,022			494,376		28,460			—			524,858
Investment in subsidiaries	574,695			25,370		—			(600,065		)	—
Deferred income taxes	42,585			—		—			(42,585		)	—
Other noncurrent assets	596			511		551			—			1,658
Total assets	$	646,180		$	699,109	$	38,715		$	(642,454	)	$	741,550
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1,093		$	26,795	$	6,246		$	—		$	34,134
Deferred revenues	—			95		1,627			—			1,722
Accrued expenses	14,020			49,640		5,056			196			68,912
Total current liabilities	15,113			76,530		12,929			196			104,768
Long-term debt, less unamortized discount and debt issuance costs	464,552			—		—			—			464,552
Deferred income taxes	—			46,273		—			(42,585		)	3,688
Other noncurrent liabilities	1,457			1,611		416			—			3,484
Total liabilities	481,122			124,414		13,345			(42,389		)	576,492
Total shareholders’ equity	165,058			574,695		25,370			(600,065		)	165,058
Total liabilities and shareholders’ equity	$	646,180		$	699,109	$	38,715		$	(642,454	)	$	741,550

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in thousands)

	Three months ended June 30, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	127,421		$	25,422		$	—		$	152,843
Costs and expenses:
Operating costs	—			97,417			18,553			—			115,970
Depreciation and amortization	210			21,268			1,373			—			22,851
General and administrative	6,907			10,579			677			(135		)	18,028
Intercompany leasing	—			(1,215		)	1,215			—			—
Bad debt expense (recovery), net	—			(348		)	—			—			(348		)
Impairment	—			332			—			—			332
Gain on dispositions of property and equipment, net	—			(1,121		)	(5		)	—			(1,126		)
Total costs and expenses	7,117			126,912			21,813			(135		)	155,707
Income (loss) from operations	(7,117		)	509			3,609			135			(2,864		)
Other income (expense):
Equity in earnings of subsidiaries	3,305			3,431			—			(6,736		)	—
Interest expense	(10,059		)	(1		)	(45		)	—			(10,105		)
Other income (expense)	91			401			(8		)	(135		)	349
Total other income (expense), net	(6,663		)	3,831			(53		)	(6,871		)	(9,756		)
Income (loss) before income taxes	(13,780		)	4,340			3,556			(6,736		)	(12,620		)
Income tax (expense) benefit 1	836			(1,035		)	(125		)	—			(324		)
Net income (loss)	$	(12,944	)	$	3,305		$	3,431		$	(6,736	)	$	(12,944	)
	Three months ended June 30, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	133,008		$	21,774		$	—		$	154,782
Costs and expenses:
Operating costs	—			97,134			17,063			—			114,197
Depreciation and amortization	266			21,720			1,301			—			23,287
General and administrative	10,130			14,090			714			(105		)	24,829
Intercompany leasing	—			(1,215		)	1,215			—			—
Bad debt expense (recovery), net	—			(370		)	—			—			(370		)
Impairment	—			2,368			—			—			2,368
Gain on dispositions of property and equipment, net	—			(713		)	(13		)	—			(726		)
Total costs and expenses	10,396			133,014			20,280			(105		)	163,585
Income (loss) from operations	(10,396		)	(6		)	1,494			105			(8,803		)
Other income (expense):
Equity in earnings of subsidiaries	521			1,034			—			(1,555		)	—
Interest expense	(9,645		)	(2		)	5			—			(9,642		)
Other income (expense)	159			223			(233		)	(105		)	44
Total other income (expense), net	(8,965		)	1,255			(228		)	(1,660		)	(9,598		)
Income (loss) before income taxes	(19,361		)	1,249			1,266			(1,555		)	(18,401		)
Income tax (expense) benefit 1	1,209			(728		)	(232		)	—			249
Net income (loss)	$	(18,152	)	$	521		$	1,034		$	(1,555	)	$	(18,152	)
1  The income tax (expense) benefit reflected in each column does not include any tax effect of the equity in earnings (losses) of subsidiaries.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in thousands)

	Six months ended June 30, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	252,346		$	47,065		$	—		$	299,411
Costs and expenses:
Operating costs	—			189,519			35,036			—			224,555
Depreciation and amortization	490			42,298			2,716			—			45,504
General and administrative	14,903			22,025			1,128			(270		)	37,786
Intercompany leasing	—			(2,430		)	2,430			—			—
Bad debt recovery, net of expense	—			(286		)	—			—			(286		)
Impairment	—			1,378			—			—			1,378
Gain on dispositions of property and equipment, net	—			(2,105		)	(96		)	—			(2,201		)
Total costs and expenses	15,393			250,399			41,214			(270		)	306,736
Income (loss) from operations	(15,393		)	1,947			5,851			270			(7,325		)
Other income (expense):
Equity in earnings of subsidiaries	6,073			5,895			—			(11,968		)	—
Interest expense	(19,933		)	(15		)	(42		)	—			(19,990		)
Other income	297			667			339			(270		)	1,033
Total other income (expense), net	(13,563		)	6,547			297			(12,238		)	(18,957		)
Income (loss) before income taxes	(28,956		)	8,494			6,148			(11,968		)	(26,282		)
Income tax (expense) benefit 1	897			(2,421		)	(253		)	—			(1,777		)
Net income (loss)	$	(28,059	)	$	6,073		$	5,895		$	(11,968	)	$	(28,059	)
	Six months ended June 30, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	259,875		$	39,385		$	—		$	299,260
Costs and expenses:
Operating costs	—			186,943			30,020			—			216,963
Depreciation and amortization	557			43,729			2,748			—			47,034
General and administrative	16,368			26,629			1,236			(210		)	44,023
Intercompany leasing	—			(2,430		)	2,430			—			—
Bad debt recovery, net of expense	—			(422		)	—			—			(422		)
Impairment	—			2,368			—			—			2,368
Gain on dispositions of property and equipment, net	—			(1,034		)	(27		)	—			(1,061		)
Total costs and expenses	16,925			255,783			36,407			(210		)	308,905
Income (loss) from operations	(16,925		)	4,092			2,978			210			(9,645		)
Other income (expense):
Equity in earnings of subsidiaries	5,070			2,687			—			(7,757		)	—
Interest expense	(19,161		)	(2		)	8			—			(19,155		)
Other income	161			442			155			(210		)	548
Total other income (expense), net	(13,930		)	3,127			163			(7,967		)	(18,607		)
Income (loss) before income taxes	(30,855		)	7,219			3,141			(7,757		)	(28,252		)
Income tax (expense) benefit 1	1,564			(2,149		)	(454		)	—			(1,039		)
Net income (loss)	$	(29,291	)	$	5,070		$	2,687		$	(7,757	)	$	(29,291	)
1  The income tax (expense) benefit reflected in each column does not include any tax effect of the equity in earnings (losses) of subsidiaries.

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(unaudited, in thousands)

	Six months ended June 30, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities	$	(35,104	)	$	35,209		$	3,941		$	—	$	4,046
Cash flows from investing activities:
Purchases of property and equipment	(314		)	(28,634		)	(2,434		)	—		(31,382		)
Proceeds from sale of property and equipment	—			3,376			63			—		3,439
Proceeds from insurance recoveries	—			588			—			—		588
	(314		)	(24,670		)	(2,371		)	—		(27,355		)
Cash flows from financing activities:
Purchase of treasury stock	(125		)	—			—			—		(125		)
Intercompany contributions/distributions	10,784			(10,539		)	(245		)	—		—
	10,659			(10,539		)	(245		)	—		(125		)
Net increase (decrease) in cash, cash equivalents and restricted cash	(24,759		)	—			1,325			—		(23,434		)
Beginning cash, cash equivalents and restricted cash	51,348			—			3,216			—		54,564
Ending cash, cash equivalents and restricted cash	$	26,589		$	—		$	4,541		$	—	$	31,130
	Six months ended June 30, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities	$	(26,626	)	$	37,071		$	6,680		$	—	$	17,125
Cash flows from investing activities:
Purchases of property and equipment	(435		)	(26,989		)	(4,061		)	—		(31,485		)
Proceeds from sale of property and equipment	—			2,212			13			—		2,225
Proceeds from insurance recoveries	—			527			14			—		541
	(435		)	(24,250		)	(4,034		)	—		(28,719		)
Cash flows from financing activities:
Proceeds from exercise of options	12			—			—			—		12
Purchase of treasury stock	(549		)	—			—			—		(549		)
Intercompany contributions/distributions	12,876			(12,821		)	(55		)	—		—
	12,339			(12,821		)	(55		)	—		(537		)
Net increase (decrease) in cash, cash equivalents and restricted cash	(14,722		)	—			2,591			—		(12,131		)
Beginning cash, cash equivalents and restricted cash	72,385			—			3,263			—		75,648
Ending cash, cash equivalents and restricted cash	$	57,663		$	—		$	5,854		$	—	$	63,517

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Organization and Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Basis of Presentation

The accompanyingunaudited condensed consolidatedfinancial statements include the accounts of Pioneer Energy Services Corp. and our wholly owned subsidiaries.All intercompany balances and transactions have been eliminated in consolidation.The accompanyingunaudited condensed consolidatedfinancial statements have been prepared in accordance with accounting principles generally accepted in the United States of Americafor interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of our management, all adjustments (consisting of normal, recurring accruals) necessary for a fair presentation have been included. We suggest that you read theseunaudited condensed consolidatedfinancial statements together with the consolidated financial statements and the related notes included in our annual report on Form 10-K for the year endedDecember 31, 2018.

Use of Estimates

Use of Estimates — In preparing the accompanyingunaudited condensed consolidatedfinancial statements, we make various estimates and assumptions that affect the amounts of assets and liabilities we report as of the dates of the balance sheets and income and expenses we report for the periods shown in the income statements and statements of cash flows.Our actual results could differ significantly from those estimates.Material estimates that are particularly susceptible to significant changes in the near term relate to our estimates of certain variable revenues and amortization periods of certain deferred revenues and costs associated with drilling daywork contacts, our estimates of projected cash flows and fair values for impairment evaluations, our estimate of the valuation allowance for deferred tax assets, our estimate of the liability relating to the self-insurance portion of our health and workers’ compensation insurance and our estimate of compensation related accruals.

Subsequent Events

Subsequent Events — In preparing the accompanyingunaudited condensed consolidatedfinancial statements, we have reviewed events that have occurred afterJune 30, 2019, through the filing of thisForm 10-Q, for inclusion as necessary.

Reclassifications

Reclassifications—Certain amounts in the unaudited condensed consolidated financial statements for the prior year periods have been reclassified to conform to the current year’s presentation.

Change in Accounting Principle and Recently Issued Accounting Standards

Change in Accounting Principle and Recently Issued Accounting Standards

Changes to accounting principles generally accepted in the United States of America (“U.S. GAAP”) are established by the Financial Accounting Standards Board (FASB) in the form of Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification (ASC). We consider the applicability and impact of all ASUs. Any ASUs not listed below were assessed and determined to be either not applicable or are expected to have an immaterial impact on our consolidated financial position and results of operations.

Leases.In February 2016, the FASB issued ASU No. 2016-02, Leases, which among other things, requires lessees to recognize substantially all leases on the balance sheet, with expense recognition that is similar to the former lease standard, and aligns the principles of lessor accounting with the principles of the FASB’s new revenue guidance in ASC Topic 606. In July 2018, the FASB issued ASU No. 2018-11, Leases: Targeted Improvements, which provides an option to apply the guidance prospectively, and provides a practical expedient allowing lessors to combine the lease and non-lease components of revenues where the revenue recognition pattern is the same and where the lease component, when accounted for separately, would be considered an operating lease. The practical expedient also allows a lessor to account for the combined lease and non-lease components under ASC Topic 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined component.

As a lessor, we elected to apply the practical expedient which allows us to continue to recognize our revenues (both lease and service components) under ASC Topic 606, and continue to present them as one revenue stream in ourunaudited condensed consolidatedstatements of operations. As a lessee, this standard primarily impacts our accounting for long-term real estate and office equipment leases, for which we recognized an operating lease asset and a corresponding operating lease liability on ourunaudited condensed consolidatedbalance sheet of$9.8 millionat the adoption date of January 1, 2019. For leases that commenced prior to adoption of ASC Topic 842, we elected to apply the package of practical expedients which allows us to carry forward the historical lease classification. The adoption of ASC Topic 842 also resulted in a cumulative effect adjustment of$0.3 millionafter applicable income taxes, related to the write off of previously unamortized deferred lease liabilities at the date of adoption. For more information about the accounting under ASC Topic 842, and disclosures under the new standard, see Note3, Leases.

Cash Equivalents and Restricted Cash

Cash Equivalents and Restricted Cash — Cash equivalents at June 30, 2019 and December 31, 2018 were $11.8 million and $40.6 million, respectively, consisting of investments in highly-liquid money-market mutual funds. Our restricted cash balance reflects the portion of net proceeds from the issuance of our senior secured term loan which are currently held in a restricted account until the completion of certain administrative tasks related to providing access rights to certain of our real property.

Prepaid Expenses and Other Current Assets

Prepaid Expenses and Other Current Assets —Prepaid expenses and other current assets include items such as insurance, rent deposits, software subscriptions and other fees. We routinely expense these items in the normal course of business over the periods that we benefit from these expenses. Prepaid expenses and other current assets also include deferred mobilization costs for short-term drilling contracts.

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Revenue from Contracts with Customers (Policies)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Policy Text Block]

Revenue from Contracts with Customers

Our production services business segments earn revenues for well servicing, wireline services and coiled tubing services pursuant to master services agreements based on purchase orders or other contractual arrangements with the client. Production services jobs are generally short-term (ranging in duration from several hours to less than30days) and are charged at current market rates for the labor, equipment and materials necessary to complete the job.Production services jobs are varied in nature, but typically represent a single performance obligation, either for a particular job, a series of distinct jobs, or a period of time during which we stand ready to provide services as our client needs them. Revenue is recognized for these services over time, as the services are performed.

Our drilling services business segments earn revenues by drilling oil and gas wells for our clients under daywork contracts.Daywork contracts are comprehensive agreements under which we provide a comprehensive service offering, including the drilling rig, crew, supplies and most of the ancillary equipment necessary to operate the rig.Contract modifications that extend the term of a dayrate contract are generally accounted for prospectively as a separate dayrate contract.We account for our services provided under daywork contracts as a single performance obligation comprised of a series of distinct time increments which are satisfied over time. Accordingly, dayrate revenues are recognized in the period during which the services are performed.

With most drilling contracts, we also receive payments contractually designated for the mobilization and demobilization of drilling rigs and other equipment to and from the client’s drill site. Revenues associated with the mobilization and demobilization of our drilling rigs to and from the client’s drill site do not relate to a distinct good or service and are recognized ratably over the related contract term.

The amount of demobilization revenue that we ultimately collect is dependent upon the specific contractual terms, most of which include provisions for reduced (or no) payment for demobilization when, among other things, the contract is renewed or extended with the same client, or when the rig is subsequently contracted with another client prior to the termination of the current contract. Since revenues associated with demobilization activity are typically variable, at each period end, they are estimated at the most likely amount, and constrained when the likelihood of a significant reversal is probable. Any change in the expected amount of demobilization revenue is accounted for with the net cumulative impact of the change in estimate recognized in the period during which the revenue estimate is revised.

The upfront costs that we incur to mobilize the drilling rig to our client’s initial drilling site are capitalized and recognized ratably over the term of the related contract, including any contracted renewal or extension periods, which is our estimate of the period during which we expect to benefit from the cost of mobilizing the rig. Costs associated with the final demobilization at the end of the contract term are expensed when incurred, when the demobilization activity is performed.

We also act as a principal for certain reimbursable services and auxiliary equipment provided by us to our clients, for which we incur costs and earn revenues, many of which are variable, or dependent upon the activity that is actually performed each day under the related contract. Accordingly, reimbursements that we receive for out-of-pocket expenses are recorded as revenues and the out-of-pocket expenses for which they relate are recorded as operating costs during the period to which they relate within the series of distinct time increments.

All of our revenues are recognized net of sales taxes, when applicable.

Revenue Recognition, Deferred Revenue [Policy Text Block]

Contract asset and contract liability balances relate to demobilization and mobilization revenues, respectively. Demobilization revenue that we expect to receive is recognized ratably over the related contract term, but invoiced upon completion of the demobilization activity. Mobilization revenue, which is typically collected upon the completion of the initial mobilization activity, is deferred and recognized ratably over the related contract term. Contract asset and liability balances are netted at the contract level, with the net current and noncurrent portions separately classified in ourcondensed consolidatedbalance sheets, and referred to herein as “deferred revenues.”

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Leases (Leases) (Policies)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lessor, Operating Leases [Text Block]

As a drilling and production services provider, we provide the drilling rigs and production services equipment which are necessary to fulfill our performance obligations and which are considered leases under ASU No. 2016-02, Leases, (together with its amendments, herein referred to as “ASC Topic 842”). However, ASU No. 2018-11, Leases: Targeted Improvements, allows lessors to (i) combine the lease and non-lease components of revenues when the revenue recognition pattern is the same and when the lease component, when accounted for separately, would be considered an operating lease, and (ii) account for the combined lease and non-lease components under ASC Topic 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined component. We elected to apply this expedient and therefore continue to recognize our revenues (both lease and service components) under ASC Topic 606, and continue to present them as one revenue stream in our unaudited condensed consolidated statements of operations.

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Property and Equipment (Impairments) (Policies)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Property, Plant and Equipment, Impairment [Policy Text Block]

Impairments — In accordance with ASC Topic 360, Property, Plant and Equipment, we monitor all indicators of potential impairments, andconcluded there are no triggers present that require impairment testing as ofJune 30, 2019, other than the placement of certain assets as held for sale.

We evaluate for potential impairment of long-lived assets when indicators of impairment are present, which may include, among other things, significant adverse changes in industry trends (including revenue rates, utilization rates, oil and natural gas market prices, and industry rig counts).In performing an impairment evaluation, we estimate the future undiscounted net cash flows from the use and eventual disposition of the assets grouped at the lowest level that independent cash flows can be identified. We perform an impairment evaluation and estimate future undiscounted cash flows for each of our reporting units separately, which are our domestic drilling services, international drilling services, well servicing, wireline services and coiled tubing services segments.If the sum of the estimated future undiscounted net cash flows is less than the carrying amount of the asset group, then we determine the fair value of the asset group, and the amount of an impairment charge would be measured as the difference between the carrying amount and the fair value of the assets.

The most significant inputs used in our impairment analysis include the projected utilization and pricing of our services, as well as the estimated proceeds upon any future sale or disposal of the assets, all of which are classified as Level 3 inputs as defined by ASC Topic 820, Fair Value Measurements and Disclosures.The assumptions we use in the evaluation for impairment are inherently uncertain and require management judgment.Although we believe the assumptions and estimates used in our impairment analysis are reasonable, different assumptions and estimates could materially impact the analysis and resulting conclusions.

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Organization and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Drilling Long-Lived Assets, by Type

The following table summarizes our current rig fleet count and composition for each drilling services business segment:

	Multi-well, Pad-capable
	AC rigs	SCR rigs	Total
Domestic drilling	17	—	17
International drilling	—	8	8
			25

Schedule of Production Services Long-Lived Assets, by Type

As of June 30, 2019, the fleet count for each of our production services business segments are as follows:

	550 HP	600 HP	Total
Well servicing rigs, by horsepower (HP) rating	113	12	125
			Total
Wireline services units			95
Coiled tubing services units			9

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Revenue from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2019

Revenue from Contracts with Customer [Abstract]

Schedule of Deferred Revenues and Costs [Table Text Block]

Our current and noncurrent deferred revenues and costs as ofJune 30, 2019 and December 31, 2018were as follows (amounts in thousands):

	June 30, 2019		December 31, 2018
Current deferred revenues	$	1,420	$	1,722
Current deferred costs	978		1,543
Noncurrent deferred revenues	$	313	$	437
Noncurrent deferred costs	581		679

Schedule of Amortization of Deferred Revenue and Costs [Table Text Block]

Amortization of deferred revenues and costs during the three and six months ended June 30, 2019 and 2018 were as follows (amounts in thousands):

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Amortization of deferred revenues	$	1,280	$	542	$	2,235	$	1,041
Amortization of deferred costs	1,110		486		2,096		949

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Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lease, Cost [Table Text Block]

The following table summarizes our lease expense recognized for the three and six months ending June 30, 2019, excluding variable lease costs (amounts in thousands):

	Three months ended June 30,		Six months ended June 30,
	2019		2019
Long-term operating lease expense	$	829	$	1,671
Short-term operating lease expense	$	4,333	$	7,736

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The following table summarizes the amount and timing of our obligations associated with our long-term operating leases (amounts in thousands):

	June 30, 2019			December 31, 2018
Within 1 year	$	2,659		$	3,318
In the second year	1,964			2,032
In the third year	1,658			1,721
In the fourth year	1,358			1,407
In the fifth year	905			1,110
Thereafter	1,268			1,738
Total undiscounted lease obligations	$	9,812		$	11,326
Impact of discounting	(995		)
Discounted value of operating lease obligations	$	8,817
Current operating lease liabilities	$	2,322
Noncurrent operating lease liabilities	6,495
	$	8,817

Lessee, Supplemental Disclosure [Table Text Block]

The following table summarizes the weighted-average remaining lease term and discount rate associated with our long-term operating leases:

	June 30, 2019
Weighted-average remaining lease term (in years)	4.8
Weighted-average discount rate	4.5	%

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Valuation Allowances on Deferred Tax Assets (Tables)

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Our deferred tax assets related to net operating losses, which are available to reduce future taxable income, consist of the following (amounts in thousands):

	June 30, 2019		December 31, 2018
Domestic net operating loss carryforward	$	100,110	$	96,777
Foreign net operating loss carryforward	8,083		9,582

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Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Our debt consists of the following (amounts in thousands):

	June 30, 2019			December 31, 2018
Senior secured term loan	$	175,000		$	175,000
Senior notes	300,000			300,000
	475,000			475,000
Less unamortized discount (based on imputed interest rate of 10.46%)	(2,278		)	(2,668		)
Less unamortized debt issuance costs	(6,629		)	(7,780		)
	$	466,093		$	464,552

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Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Liabilities, Fair Value Disclosure [Abstract]

Fair Value, by Balance Sheet Grouping

The following table presents supplemental fair value information and carrying value for our debt, net of discount and debt issuance costs (amounts in thousands):

		June 30, 2019				December 31, 2018
	Hierarchy Level	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Senior notes	2	$	297,411	$	141,000	$	296,988	$	186,750
Senior secured term loan	3	168,682		$	166,250	167,564		175,875
		$	466,093	$	307,250	$	464,552	$	362,625

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Earnings (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table presents a reconciliation of the numerators and denominators of the basic earnings per share and diluted earnings per share computations (amounts in thousands, except per share data):

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Numerator (both basic and diluted):
Net loss	$	(12,944	)	$	(18,152	)	$	(28,059	)	$	(29,291	)
Denominator:
Weighted-average shares (denominator for basic earnings (loss) per share)	78,430			77,944			78,371			77,776
Dilutive effect of outstanding stock options, restricted stock and restricted stock unit awards	—			—			—			—
Denominator for diluted earnings (loss) per share	78,430			77,944			78,371			77,776
Loss per common share - Basic	$	(0.17	)	$	(0.23	)	$	(0.36	)	$	(0.38	)
Loss per common share - Diluted	$	(0.17	)	$	(0.23	)	$	(0.36	)	$	(0.38	)
Potentially dilutive securities excluded as anti-dilutive	4,858			4,055			3,709			5,015

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Stock-Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

The following table summarizes the stock-based compensation expense recognized, by award type, and the compensation expense (benefit) recognized for phantom stock unit awards during thethree and six months ended June 30, 2019 and 2018 (amounts in thousands):

	Three months ended June 30,					Six months ended June 30,
	2019			2018		2019		2018
Stock option awards	$	23		$	99	$	74	$	241
Restricted stock awards	121			115		235		228
Restricted stock unit awards	183			883		885		1,887
	$	327		$	1,097	$	1,194	$	2,356
Phantom stock unit awards	$	(797	)	$	6,099	$	51	$	6,529

Schedule of Share-based Compensation, Phantom Stock Unit Award Activity [Table Text Block]

The following table summarizes the number, weighted-average grant-date fair value, and applicable maximum cash value of the phantom stock unit awards granted during the six months ended June 30, 2019 and 2018:

	Six months ended June 30,
	2019		2018
Performance-based:
Phantom stock unit awards granted	2,467,776		1,188,216
Weighted-average grant-date fair value (per unit)	$	1.10	$	3.06
Maximum cash value per unit (three times the grant date stock price)	$	4.62	$	9.66
Time-based:
Phantom stock unit awards granted	810,648		—
Weighted-average grant-date fair value (per unit)	$	1.17	$	—
Maximum cash value per unit (three times the grant date stock price)	$	4.62	$	—

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Award Activity [Table Text Block]

The following table summarizes the number and weighted-average grant-date fair value of the restricted stock and time-based restricted stock unit awards granted during the three and six months ended June 30, 2019 and 2018:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Restricted Stock:
Restricted stock awards granted	648,100		78,632		648,100		78,632
Weighted-average grant-date fair value (per share)	$	0.79	$	5.85	$	0.79	$	5.85
Time-based RSUs:
Time-based RSUs granted	—		—		870,648		788,377
Weighted-average grant-date fair value (per unit)	$	—	$	—	$	1.38	$	3.85

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Segment Information (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables set forth certain financial information for each of our segments and corporate (amounts in thousands):

	As of and for the three months ended June 30,				As of and for the six months ended June 30,
	2019		2018		2019		2018
Revenues:
Domestic drilling	$	39,652	$	35,634	$	77,661	$	71,560
International drilling	25,422		21,773		47,065		39,384
Drilling services	65,074		57,407		124,726		110,944
Well servicing	29,506		23,162		55,760		44,276
Wireline services	47,386		62,137		93,260		118,738
Coiled tubing services	10,877		12,076		25,665		25,302
Production services	87,769		97,375		174,685		188,316
Consolidated revenues	$	152,843	$	154,782	$	299,411	$	299,260
Operating costs:
Domestic drilling	$	24,698	$	21,749	$	47,167	$	42,647
International drilling	18,555		17,064		35,040		30,025
Drilling services	43,253		38,813		82,207		72,672
Well servicing	21,038		16,680		39,934		32,250
Wireline services	41,804		46,716		81,151		89,202
Coiled tubing services	9,875		11,988		21,263		22,839
Production services	72,717		75,384		142,348		144,291
Consolidated operating costs	$	115,970	$	114,197	$	224,555	$	216,963
Gross margin:
Domestic drilling	$	14,954	$	13,885	$	30,494	$	28,913
International drilling	6,867		4,709		12,025		9,359
Drilling services	21,821		18,594		42,519		38,272
Well servicing	8,468		6,482		15,826		12,026
Wireline services	5,582		15,421		12,109		29,536
Coiled tubing services	1,002		88		4,402		2,463
Production services	15,052		21,991		32,337		44,025
Consolidated gross margin	$	36,873	$	40,585	$	74,856	$	82,297
Identifiable Assets:
Domestic drilling (1)	$	365,477	$	380,355	$	365,477	$	380,355
International drilling (1) (2)	47,158		42,457		47,158		42,457
Drilling services	412,635		422,812		412,635		422,812
Well servicing	121,180		124,458		121,180		124,458
Wireline services	94,413		99,243		94,413		99,243
Coiled tubing services	37,292		31,889		37,292		31,889
Production services	252,885		255,590		252,885		255,590
Corporate	58,149		78,642		58,149		78,642
Consolidated identifiable assets	$	723,669	$	757,044	$	723,669	$	757,044
Depreciation:
Domestic drilling	$	10,888	$	10,139	$	21,433	$	20,588
International drilling	1,373		1,301		2,716		2,748
Drilling services	12,261		11,440		24,149		23,336
Well servicing	4,942		4,865		9,824		9,785
Wireline services	3,907		4,601		7,982		9,209
Coiled tubing services	1,531		2,114		3,059		4,146
Production services	10,380		11,580		20,865		23,140
Corporate	210		267		490		558
Consolidated depreciation	$	22,851	$	23,287	$	45,504	$	47,034

	As of and for the three months ended June 30,				As of and for the six months ended June 30,
	2019		2018		2019		2018
Capital Expenditures:
Domestic drilling	$	3,325	$	4,736	$	11,567	$	7,494
International drilling	524		1,213		2,282		3,913
Drilling services	3,849		5,949		13,849		11,407
Well servicing	2,141		3,403		6,036		5,452
Wireline services	1,588		4,917		4,423		8,590
Coiled tubing services	1,287		4,817		2,811		7,981
Production services	5,016		13,137		13,270		22,023
Corporate	376		251		497		495
Consolidated capital expenditures	$	9,241	$	19,337	$	27,616	$	33,925

(1) Identifiable assets for our drilling segments include the impact of a $38.6 million and $35.1 million intercompany balance, as of June 30, 2019 and 2018, respectively, between our domestic drilling segment (intercompany receivable) and our international drilling segment (intercompany payable).

(2) Identifiable assets for our international drilling segment include five drilling rigs that are owned by our Colombia subsidiary and three drilling rigs that are owned by one of our domestic subsidiaries and leased to our Colombia subsidiary.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table reconciles theconsolidated gross margin of our segments reported above to loss from operations as reported on the condensed consolidated statements of operations (amounts in thousands):

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Consolidated gross margin	$	36,873		$	40,585		$	74,856		$	82,297
Depreciation	(22,851		)	(23,287		)	(45,504		)	(47,034		)
General and administrative	(18,028		)	(24,829		)	(37,786		)	(44,023		)
Bad debt recovery, net	348			370			286			422
Impairment	(332		)	(2,368		)	(1,378		)	(2,368		)
Gain on dispositions of property and equipment, net	1,126			726			2,201			1,061
Loss from operations	$	(2,864	)	$	(8,803	)	$	(7,325	)	$	(9,645	)

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Guarantor/Non Guarantor Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 30, 2019

Guarantor Non Guarantor Condensed Consolidated Financial Statements [Abstract]

Condensed Consolidating Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEETS

(unaudited, in thousands)

	June 30, 2019
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	25,591		$	—	$	4,541		$	—		$	30,132
Restricted cash	998			—		—			—			998
Receivables, net of allowance	169			108,747		36,088			568			145,572
Intercompany receivable (payable)	(27,363		)	65,708		(38,345		)	—			—
Inventory	—			11,784		11,016			—			22,800
Assets held for sale	—			5,962		—			—			5,962
Prepaid expenses and other current assets	2,301			3,591		1,169			—			7,061
Total current assets	1,696			195,792		14,469			568			212,525
Net property and equipment	2,029			471,153		27,661			—			500,843
Investment in subsidiaries	570,070			31,020		—			(601,090		)	—
Deferred income taxes	43,490			—		—			(43,490		)	—
Operating lease assets	3,353			4,779		643			—			8,775
Other noncurrent assets	616			485		425			—			1,526
Total assets	$	621,254		$	703,229	$	43,198		$	(644,012	)	$	723,669
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	2,798		$	32,324	$	5,897		$	—		$	41,019
Deferred revenues	—			528		892			—			1,420
Accrued expenses	10,266			48,063		4,664			568			63,561
Total current liabilities	13,064			80,915		11,453			568			106,000
Long-term debt, less unamortized discount and debt issuance costs	466,093			—		—			—			466,093
Noncurrent operating lease liabilities	2,968			3,034		493			—			6,495
Deferred income taxes	—			48,403		—			(43,490		)	4,913
Other noncurrent liabilities	784			807		232			—			1,823
Total liabilities	482,909			133,159		12,178			(42,922		)	585,324
Total shareholders’ equity	138,345			570,070		31,020			(601,090		)	138,345
Total liabilities and shareholders’ equity	$	621,254		$	703,229	$	43,198		$	(644,012	)	$	723,669
	December 31, 2018
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	50,350		$	—	$	3,216		$	—		$	53,566
Restricted cash	998			—		—			—			998
Receivables, net of allowance	436			95,030		35,219			196			130,881
Intercompany receivable (payable)	(27,245		)	67,098		(39,853		)	—			—
Inventory	—			9,945		8,953			—			18,898
Assets held for sale	—			3,582		—			—			3,582
Prepaid expenses and other current assets	1,743			3,197		2,169			—			7,109
Total current assets	26,282			178,852		9,704			196			215,034
Net property and equipment	2,022			494,376		28,460			—			524,858
Investment in subsidiaries	574,695			25,370		—			(600,065		)	—
Deferred income taxes	42,585			—		—			(42,585		)	—
Other noncurrent assets	596			511		551			—			1,658
Total assets	$	646,180		$	699,109	$	38,715		$	(642,454	)	$	741,550
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1,093		$	26,795	$	6,246		$	—		$	34,134
Deferred revenues	—			95		1,627			—			1,722
Accrued expenses	14,020			49,640		5,056			196			68,912
Total current liabilities	15,113			76,530		12,929			196			104,768
Long-term debt, less unamortized discount and debt issuance costs	464,552			—		—			—			464,552
Deferred income taxes	—			46,273		—			(42,585		)	3,688
Other noncurrent liabilities	1,457			1,611		416			—			3,484
Total liabilities	481,122			124,414		13,345			(42,389		)	576,492
Total shareholders’ equity	165,058			574,695		25,370			(600,065		)	165,058
Total liabilities and shareholders’ equity	$	646,180		$	699,109	$	38,715		$	(642,454	)	$	741,550

Condensed Consolidating Statements of Operations

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in thousands)

	Three months ended June 30, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	127,421		$	25,422		$	—		$	152,843
Costs and expenses:
Operating costs	—			97,417			18,553			—			115,970
Depreciation and amortization	210			21,268			1,373			—			22,851
General and administrative	6,907			10,579			677			(135		)	18,028
Intercompany leasing	—			(1,215		)	1,215			—			—
Bad debt expense (recovery), net	—			(348		)	—			—			(348		)
Impairment	—			332			—			—			332
Gain on dispositions of property and equipment, net	—			(1,121		)	(5		)	—			(1,126		)
Total costs and expenses	7,117			126,912			21,813			(135		)	155,707
Income (loss) from operations	(7,117		)	509			3,609			135			(2,864		)
Other income (expense):
Equity in earnings of subsidiaries	3,305			3,431			—			(6,736		)	—
Interest expense	(10,059		)	(1		)	(45		)	—			(10,105		)
Other income (expense)	91			401			(8		)	(135		)	349
Total other income (expense), net	(6,663		)	3,831			(53		)	(6,871		)	(9,756		)
Income (loss) before income taxes	(13,780		)	4,340			3,556			(6,736		)	(12,620		)
Income tax (expense) benefit 1	836			(1,035		)	(125		)	—			(324		)
Net income (loss)	$	(12,944	)	$	3,305		$	3,431		$	(6,736	)	$	(12,944	)
	Three months ended June 30, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	133,008		$	21,774		$	—		$	154,782
Costs and expenses:
Operating costs	—			97,134			17,063			—			114,197
Depreciation and amortization	266			21,720			1,301			—			23,287
General and administrative	10,130			14,090			714			(105		)	24,829
Intercompany leasing	—			(1,215		)	1,215			—			—
Bad debt expense (recovery), net	—			(370		)	—			—			(370		)
Impairment	—			2,368			—			—			2,368
Gain on dispositions of property and equipment, net	—			(713		)	(13		)	—			(726		)
Total costs and expenses	10,396			133,014			20,280			(105		)	163,585
Income (loss) from operations	(10,396		)	(6		)	1,494			105			(8,803		)
Other income (expense):
Equity in earnings of subsidiaries	521			1,034			—			(1,555		)	—
Interest expense	(9,645		)	(2		)	5			—			(9,642		)
Other income (expense)	159			223			(233		)	(105		)	44
Total other income (expense), net	(8,965		)	1,255			(228		)	(1,660		)	(9,598		)
Income (loss) before income taxes	(19,361		)	1,249			1,266			(1,555		)	(18,401		)
Income tax (expense) benefit 1	1,209			(728		)	(232		)	—			249
Net income (loss)	$	(18,152	)	$	521		$	1,034		$	(1,555	)	$	(18,152	)
1  The income tax (expense) benefit reflected in each column does not include any tax effect of the equity in earnings (losses) of subsidiaries.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in thousands)

	Six months ended June 30, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	252,346		$	47,065		$	—		$	299,411
Costs and expenses:
Operating costs	—			189,519			35,036			—			224,555
Depreciation and amortization	490			42,298			2,716			—			45,504
General and administrative	14,903			22,025			1,128			(270		)	37,786
Intercompany leasing	—			(2,430		)	2,430			—			—
Bad debt recovery, net of expense	—			(286		)	—			—			(286		)
Impairment	—			1,378			—			—			1,378
Gain on dispositions of property and equipment, net	—			(2,105		)	(96		)	—			(2,201		)
Total costs and expenses	15,393			250,399			41,214			(270		)	306,736
Income (loss) from operations	(15,393		)	1,947			5,851			270			(7,325		)
Other income (expense):
Equity in earnings of subsidiaries	6,073			5,895			—			(11,968		)	—
Interest expense	(19,933		)	(15		)	(42		)	—			(19,990		)
Other income	297			667			339			(270		)	1,033
Total other income (expense), net	(13,563		)	6,547			297			(12,238		)	(18,957		)
Income (loss) before income taxes	(28,956		)	8,494			6,148			(11,968		)	(26,282		)
Income tax (expense) benefit 1	897			(2,421		)	(253		)	—			(1,777		)
Net income (loss)	$	(28,059	)	$	6,073		$	5,895		$	(11,968	)	$	(28,059	)
	Six months ended June 30, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	259,875		$	39,385		$	—		$	299,260
Costs and expenses:
Operating costs	—			186,943			30,020			—			216,963
Depreciation and amortization	557			43,729			2,748			—			47,034
General and administrative	16,368			26,629			1,236			(210		)	44,023
Intercompany leasing	—			(2,430		)	2,430			—			—
Bad debt recovery, net of expense	—			(422		)	—			—			(422		)
Impairment	—			2,368			—			—			2,368
Gain on dispositions of property and equipment, net	—			(1,034		)	(27		)	—			(1,061		)
Total costs and expenses	16,925			255,783			36,407			(210		)	308,905
Income (loss) from operations	(16,925		)	4,092			2,978			210			(9,645		)
Other income (expense):
Equity in earnings of subsidiaries	5,070			2,687			—			(7,757		)	—
Interest expense	(19,161		)	(2		)	8			—			(19,155		)
Other income	161			442			155			(210		)	548
Total other income (expense), net	(13,930		)	3,127			163			(7,967		)	(18,607		)
Income (loss) before income taxes	(30,855		)	7,219			3,141			(7,757		)	(28,252		)
Income tax (expense) benefit 1	1,564			(2,149		)	(454		)	—			(1,039		)
Net income (loss)	$	(29,291	)	$	5,070		$	2,687		$	(7,757	)	$	(29,291	)
1  The income tax (expense) benefit reflected in each column does not include any tax effect of the equity in earnings (losses) of subsidiaries.

Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(unaudited, in thousands)

	Six months ended June 30, 2019
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities	$	(35,104	)	$	35,209		$	3,941		$	—	$	4,046
Cash flows from investing activities:
Purchases of property and equipment	(314		)	(28,634		)	(2,434		)	—		(31,382		)
Proceeds from sale of property and equipment	—			3,376			63			—		3,439
Proceeds from insurance recoveries	—			588			—			—		588
	(314		)	(24,670		)	(2,371		)	—		(27,355		)
Cash flows from financing activities:
Purchase of treasury stock	(125		)	—			—			—		(125		)
Intercompany contributions/distributions	10,784			(10,539		)	(245		)	—		—
	10,659			(10,539		)	(245		)	—		(125		)
Net increase (decrease) in cash, cash equivalents and restricted cash	(24,759		)	—			1,325			—		(23,434		)
Beginning cash, cash equivalents and restricted cash	51,348			—			3,216			—		54,564
Ending cash, cash equivalents and restricted cash	$	26,589		$	—		$	4,541		$	—	$	31,130
	Six months ended June 30, 2018
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities	$	(26,626	)	$	37,071		$	6,680		$	—	$	17,125
Cash flows from investing activities:
Purchases of property and equipment	(435		)	(26,989		)	(4,061		)	—		(31,485		)
Proceeds from sale of property and equipment	—			2,212			13			—		2,225
Proceeds from insurance recoveries	—			527			14			—		541
	(435		)	(24,250		)	(4,034		)	—		(28,719		)
Cash flows from financing activities:
Proceeds from exercise of options	12			—			—			—		12
Purchase of treasury stock	(549		)	—			—			—		(549		)
Intercompany contributions/distributions	12,876			(12,821		)	(55		)	—		—
	12,339			(12,821		)	(55		)	—		(537		)
Net increase (decrease) in cash, cash equivalents and restricted cash	(14,722		)	—			2,591			—		(12,131		)
Beginning cash, cash equivalents and restricted cash	72,385			—			3,263			—		75,648
Ending cash, cash equivalents and restricted cash	$	57,663		$	—		$	5,854		$	—	$	63,517

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Organization and Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands	Jun. 30, 2019 USD ($) coiled_tubing_units well_service_rigs drilling_rigs wireline_tubing_units	Jan. 01, 2019 USD ($)	Dec. 31, 2018 USD ($)
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Impact of adoption, operating lease assets | $	$ 8,775		$ 0
Impact of adoption, operating lease liability | $	8,817
Cash and Cash Equivalents
Cash Equivalents, at Carrying Value | $	$ 11,800		$ 40,600
Accounting Standards Update 2016-02
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Impact of adoption, operating lease assets | $		$ 9,800
Impact of adoption, operating lease liability | $		9,800
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $		$ 300
Drilling Services [Member]
Business - Drilling
Drilling Rigs	25
Drilling Services [Member] | Pad-Capable [Member]
Business - Drilling
Percentage of Drilling Fleet	100.00%
Well Servicing [Member] | 550 Horsepower [Member]
Business - Production Services
Well Servicing Rigs | well_service_rigs	113
Well Servicing [Member] | 600 Horsepower [Member]
Business - Production Services
Well Servicing Rigs | well_service_rigs	12
Well Servicing [Member] | Production Services [Member]
Business - Production Services
Well Servicing Rigs | well_service_rigs	125
Wireline Services [Member] | Production Services [Member]
Business - Production Services
Wireline Units | wireline_tubing_units	95
Coiled Tubing Services [Member] | Production Services [Member]
Business - Production Services
Coiled Tubing Units | coiled_tubing_units	9
Domestic Drilling [Member] | Drilling Services [Member] | United States [Member]
Business - Drilling
Drilling Divisions	3
Drilling Rigs	17
Domestic Drilling [Member] | Drilling Services [Member] | United States [Member] | AC [Member]
Business - Drilling
Drilling Rigs	17
Domestic Drilling [Member] | Drilling Services [Member] | United States [Member] | SCR Drilling Rigs [Member]
Business - Drilling
Drilling Rigs	0
International Drilling [Member] | Drilling Services [Member] | Colombia [Member]
Business - Drilling
Drilling Rigs	8
International Drilling [Member] | Drilling Services [Member] | Colombia [Member] | AC [Member]
Business - Drilling
Drilling Rigs	0
International Drilling [Member] | Drilling Services [Member] | Colombia [Member] | SCR Drilling Rigs [Member]
Business - Drilling
Drilling Rigs	8

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Organization and Summary of Significant Accounting Policies (Drilling Services Business) (Details) - Drilling Services [Member]	Jun. 30, 2019 drilling_rigs
Accounting Policies [Line Items]
Drilling Rigs	25
Pad-Capable [Member]
Accounting Policies [Line Items]
Percentage of Drilling Fleet	100.00%
United States [Member] | Domestic Drilling [Member]
Accounting Policies [Line Items]
Drilling Divisions	3
Drilling Rigs	17
United States [Member] | AC [Member] | Domestic Drilling [Member]
Accounting Policies [Line Items]
Drilling Rigs	17
United States [Member] | SCR Drilling Rigs [Member] | Domestic Drilling [Member]
Accounting Policies [Line Items]
Drilling Rigs	0
Colombia [Member] | International Drilling [Member]
Accounting Policies [Line Items]
Drilling Rigs	8
Colombia [Member] | AC [Member] | International Drilling [Member]
Accounting Policies [Line Items]
Drilling Rigs	0
Colombia [Member] | SCR Drilling Rigs [Member] | International Drilling [Member]
Accounting Policies [Line Items]
Drilling Rigs	8

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Organization and Summary of Significant Accounting Policies (Production Services Business) (Details)	Jun. 30, 2019 coiled_tubing_units well_service_rigs wireline_tubing_units
Well Servicing [Member] | Production Services [Member]
Accounting Policies [Line Items]
Well Servicing Rigs	125
Well Servicing [Member] | 550 Horsepower [Member]
Accounting Policies [Line Items]
Well Servicing Rigs	113
Well Servicing [Member] | 600 Horsepower [Member]
Accounting Policies [Line Items]
Well Servicing Rigs	12
Wireline Services [Member] | Production Services [Member]
Accounting Policies [Line Items]
Wireline Units | wireline_tubing_units	95
Coiled Tubing Services [Member] | Production Services [Member]
Accounting Policies [Line Items]
Coiled Tubing Units | coiled_tubing_units	9

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Revenue from Contracts with Customers (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019 USD ($) drilling_rigs
Drilling Services [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Drilling Rigs	25
Drilling Services [Member] | Not Under Drilling Contract [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Drilling Rigs	2
Drilling Services [Member] | Earning Under Contract [Member] | Currently Under Drilling Contract [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Drilling Rigs	23
Drilling Services [Member] | Domestic Drilling [Member] | Earning But Not Working [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Gain (Loss) on Contract Termination | $	$ 0.4
Earning But Not Working Days	34 days
Drilling Services [Member] | Domestic Drilling [Member] | Cancelable Spot Contract [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Notice Period to Cancel Contract	30 days
Drilling Services [Member] | Domestic Drilling [Member] | Term Contract [Member] | Earning Under Contract [Member] | Currently Under Drilling Contract [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Drilling Rigs	14
Drilling Services [Member] | Domestic Drilling [Member] | Deployed under new contract during current period [Member] | Daywork Drilling Contract [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Drilling Rigs	4
Drilling Services [Member] | International Drilling [Member] | Deployed under new contract during current period [Member] | Term Contract, Cancelable [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Drilling Rigs	1
Drilling Services [Member] | International Drilling [Member] | Minimum [Member] | Cancelable Spot or Cancelable Term Contract [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Notice Period to Cancel Contract	15 days
Drilling Services [Member] | International Drilling [Member] | Maximum [Member] | Cancelable Spot or Cancelable Term Contract [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Notice Period to Cancel Contract	30 days
Short-term Contract with Customer [Member] | Production Services [Member] | Maximum [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Typical Revenue Contract Duration	30 days

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Revenue from Contracts with Customers Deferred Revenues and Costs (Details) - Drilling Services [Member] - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Deferred Revenues and Costs, Classified
Current deferred revenues	$ 1,420	$ 1,722
Current deferred costs	978	1,543
Noncurrent deferred revenues	313	437
Noncurrent deferred costs	$ 581	$ 679

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Revenue from Contracts with Customers Amortization of Deferred Revenues and Costs (Details) - Drilling Services [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Deferred Revenue Arrangement [Line Items]
Amortization of deferred revenues	$ 1,280	$ 542	$ 2,235	$ 1,041
Amortization of deferred costs	$ 1,110	$ 486	$ 2,096	$ 949

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Leases (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)
Lessee, Lease, Description [Line Items]
Regional Offices	27	27
Variable Lease Payments	$ 300	$ 600
Minimum [Member]
Lessee, Lease, Description [Line Items]
Operating Lease Renewal Term Options	1 year	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Operating Lease Renewal Term Options	5 years	5 years

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Leases Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Components of Lease Cost [Line Items]
Short-Term Operating Lease Expense	$ 4,333	$ 7,736
Lease Term, Greater than 12 Months [Member]
Components of Lease Cost [Line Items]
Long-Term Operating Lease Expense	$ 829	$ 1,671

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Leases Operating Lease Maturities Under ASC 842 (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Operating Lease Liability Maturities Under ASC 842 [Abstract]
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	$ 2,659
Lessee, Operating Lease, Liability, Payments, Due Year Two	1,964
Lessee, Operating Lease, Liability, Payments, Due Year Three	1,658
Lessee, Operating Lease, Liability, Payments, Due Year Four	1,358
Lessee, Operating Lease, Liability, Payments, Due Year Five	905
Lessee, Operating Lease, Liability, Payments, Due after Year Five	1,268
Lessee, Operating Lease, Liability, Payments, Due	9,812
Impact of discounting	(995)
Discounted value of operating lease obligations	8,817
Current operating lease liabilities	2,322
Noncurrent operating lease liabilities	$ 6,495	$ 0

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Leases Operating Lease Maturities Under ASC 840 (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Operating Lease Maturities Under ASC 840 [Abstract]
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 3,318
Operating Leases, Future Minimum Payments, Due in Two Years	2,032
Operating Leases, Future Minimum Payments, Due in Three Years	1,721
Operating Leases, Future Minimum Payments, Due in Four Years	1,407
Operating Leases, Future Minimum Payments, Due in Five Years	1,110
Operating Leases, Future Minimum Payments, Due Thereafter	1,738
Operating Leases, Future Minimum Payments Due	$ 11,326

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Leases Supplemental Lease Information (Details)	Jun. 30, 2019
Supplemental Lease Information [Abstract]
Weighted-average remaining lease term (in years)	4 years 9 months 15 days
Weighted-average discount rate	4.50%

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Property and Equipment (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019 USD ($) coiled_tubing_units drilling_rigs wireline_tubing_units	Jun. 30, 2018 USD ($) drilling_rigs wireline_tubing_units	Jun. 30, 2019 USD ($) coiled_tubing_units drilling_rigs wireline_tubing_units	Jun. 30, 2018 USD ($) drilling_rigs wireline_tubing_units	Dec. 31, 2018 USD ($) coiled_tubing_units drilling_rigs
Property, Plant and Equipment [Line Items]
Capital Expenditures	$ 9,241	$ 19,337	$ 27,616	$ 33,925
Construction in Progress, Gross	6,000		6,000		$ 19,600
Gain (Loss) on Disposition of Property Plant Equipment	1,126	726	2,201	1,061
Assets Held-for-sale, Not Part of Disposal Group, Current	5,962		5,962		$ 3,582
Asset Impairment Charges	332	2,368	1,378	2,368
Production Services [Member]
Property, Plant and Equipment [Line Items]
Capital Expenditures	5,016	13,137	13,270	22,023
Production Services [Member] | Wireline Services [Member]
Property, Plant and Equipment [Line Items]
Capital Expenditures	$ 1,588	$ 4,917	$ 4,423	$ 8,590
Wireline Units | wireline_tubing_units	95		95
Production Services [Member] | Wireline Services [Member] | Sold During the Period [Member]
Property, Plant and Equipment [Line Items]
Wireline Units | wireline_tubing_units		6		6
Production Services [Member] | Wireline Services [Member] | Wireline Units [Member]
Property, Plant and Equipment [Line Items]
Wireline Units | wireline_tubing_units	12		12
Production Services [Member] | Wireline Services [Member] | Building [Member]
Property, Plant and Equipment [Line Items]
Operating Location, Closed	2		2
Production Services [Member] | Coiled Tubing Services [Member]
Property, Plant and Equipment [Line Items]
Capital Expenditures	$ 1,287	$ 4,817	$ 2,811	$ 7,981
Coiled Tubing Units | coiled_tubing_units	9		9
Production Services [Member] | Coiled Tubing Services [Member] | Coiled Tubing Units [Member]
Property, Plant and Equipment [Line Items]
Coiled Tubing Units | coiled_tubing_units	2		2		3
Drilling Services [Member]
Property, Plant and Equipment [Line Items]
Capital Expenditures	$ 3,849	5,949	$ 13,849	11,407
Drilling Rigs | drilling_rigs	25		25
Drilling Services [Member] | Domestic Drilling [Member]
Property, Plant and Equipment [Line Items]
Capital Expenditures	$ 3,325	$ 4,736	$ 11,567	$ 7,494
Drilling Services [Member] | Domestic Drilling [Member] | Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Construction in Progress, Gross					$ 8,000
Drilling Rigs | drilling_rigs					1
Drilling Services [Member] | Domestic Drilling [Member] | Sold During the Period [Member]
Property, Plant and Equipment [Line Items]
Drilling Rigs | drilling_rigs		1		1
Drilling Services [Member] | Domestic Drilling [Member] | Drilling Rigs [Member] | SCR Drilling Rigs [Member]
Property, Plant and Equipment [Line Items]
Drilling Rigs | drilling_rigs	1		1		1
Drilling Services [Member] | International Drilling [Member]
Property, Plant and Equipment [Line Items]
Capital Expenditures	$ 524	$ 1,213	$ 2,282	$ 3,913

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Valuation Allowances on Deferred Tax Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	$ 100,110	$ 96,777
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	8,083	9,582
Deferred Tax Assets, Valuation Allowance	$ 67,209	$ 62,639
Loss Generated Through 2016 [Member] | Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards, Statutory Carryforward Period	12 years
Loss Generated After 2017 [Member]
Operating Loss Carryforwards [Line Items]
Net Operating Loss Limit of Taxable Income, Tax Reform Act, Provisions in Effect	80.00%
Minimum [Member] | Loss Generated Through 2017 [Member] | Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2030
Minimum [Member] | Loss Generated Through 2016 [Member] | Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2029

XML

Valuation Allowances on Deferred Tax Assets Schedule of Deferred Tax Assets from Net Operating Losses (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Components of Deferred Tax Assets [Abstract]
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	$ 100,110	$ 96,777
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	$ 8,083	$ 9,582

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Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 475,000	$ 475,000
Less unamortized debt discount (based on imputed interest rate of 10.46%)	(2,278)	(2,668)
Less unamortized debt issuance costs	(6,629)	(7,780)
Long-term Debt, Excluding Current Maturities	466,093	464,552
Senior Notes [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 300,000	$ 300,000

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Debt (Details) $ in Thousands	Nov. 08, 2017 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)	Mar. 18, 2014 USD ($)
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities		$ 466,093	$ 464,552
Debt Issuance Costs, Net		(6,629)	(7,780)
Debt Instrument, Unamortized Discount		(2,278)	(2,668)
Debt Instrument, Interest Rate, Effective Percentage	10.46%
Senior Secured Revolving Asset-based Lending Facility [Abstract]
Amount outstanding		475,000	475,000
Revolving Asset-Based Lending Facility [Member] | Line of Credit [Member]
Senior Secured Revolving Asset-based Lending Facility [Abstract]
Maximum borrowing capacity	$ 75,000
Letters of Credit Outstanding, Amount		9,700
Borrowing available		59,800
Debt Instrument, Covenant Compliance, Fixed Charge Coverage Ratio, Minimum Credit Availability Threshold for Covenant Requirement, Percentage	15.00%
Debt Instrument, Covenant Compliance, Fixed Charge Coverage Ratio, Minimum Credit Availability Threshold for Covenant Requirement, Amount	$ 11,250
Minimum [Member] | Revolving Asset-Based Lending Facility [Member] | Line of Credit [Member] | Covenant Compliance Date, Trailing 12 Months [Member]
Senior Secured Revolving Asset-based Lending Facility [Abstract]
Debt Instrument, Covenant Compliance, Fixed Charge Cover Ratio, Required Minimum	1.00
Maximum [Member] | Revolving Asset-Based Lending Facility [Member] | Line of Credit [Member]
Senior Secured Revolving Asset-based Lending Facility [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity, Letters of Credit Sub-Limit	$ 30,000
London Interbank Offered Rate (LIBOR) or Bank Base Rate [Member] | Minimum [Member] | Revolving Asset-Based Lending Facility [Member] | Line of Credit [Member]
Senior Secured Term Loan [Abstract]
Debt Instrument, Basis Spread on Variable Rate	1.75%
London Interbank Offered Rate (LIBOR) or Bank Base Rate [Member] | Maximum [Member] | Revolving Asset-Based Lending Facility [Member] | Line of Credit [Member]
Senior Secured Term Loan [Abstract]
Debt Instrument, Basis Spread on Variable Rate	3.25%
Term Loan [Member]
Senior Secured Term Loan [Abstract]
Debt Instrument, Original issue discount Rate, Percentage	2.00%
Senior Notes [Abstract]
Debt Instrument, Face Amount	$ 175,000
Term Loan [Member] | Term Loan [Member]
Senior Secured Revolving Asset-based Lending Facility [Abstract]
Amount outstanding		175,000	175,000
Term Loan [Member] | Minimum [Member]
Senior Secured Term Loan [Abstract]
Debt Instrument, Optional Principal Payment, Minimum	$ 5,000
Debt Instrument, Covenant Compliance, Ratio of Fixed Assets to Term Loan Indebtedness, Required Minimum	1.50
Term Loan [Member] | Minimum [Member] | December 14, 2021 [Member]
Senior Secured Term Loan [Abstract]
Debt Instrument, Maturity Acceleration Terms, Senior Notes Balance Accelerates Term Loan Maturity	$ 15,000
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Senior Secured Term Loan [Abstract]
Debt Instrument, Basis Spread on Variable Rate	7.75%
Term Loan [Member] | Bank Base Rate [Member]
Senior Secured Term Loan [Abstract]
Debt Instrument, Basis Spread on Variable Rate	6.75%
Term Loan [Member] | Basis Spread on Variable Rate [Member]
Senior Secured Term Loan [Abstract]
Debt Instrument, Default Penalty, Variable Rate Increase Provision	2.00%
Senior Notes [Member]
Senior Notes [Abstract]
Debt Instrument, Face Amount				$ 300,000
Debt Instrument, Interest Rate, Stated Percentage				6.125%
Debt Instrument, Redeemable with Equity Issuance Proceeds, Required Repurchase Due to Change in Control Redemption Price, Percentage				101.00%
Debt Instrument, Redeemable with Equity Issuance Proceeds, Required Repurchase Due to Asset Disposition, Redemption Price, Percentage				100.00%
Senior Notes [Member] | Senior Notes [Member]
Senior Secured Revolving Asset-based Lending Facility [Abstract]
Amount outstanding		$ 300,000	$ 300,000

XML

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	$ 307,250	$ 362,625
Estimate of Fair Value Measurement [Member] | Phantom Share Units (PSUs) [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Value	800	5,100
Estimate of Fair Value Measurement [Member] | Senior Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	141,000	186,750
Estimate of Fair Value Measurement [Member] | Term Loan [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	166,250	175,875
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	466,093	464,552
Reported Value Measurement [Member] | Phantom Share Units (PSUs) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other Liabilities	200	3,600
Reported Value Measurement [Member] | Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	297,411	296,988
Reported Value Measurement [Member] | Term Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	$ 168,682	$ 167,564

XML

Earnings (Loss) Per Common Share (Reconciliation of Earnings (loss) Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator (both basic and diluted)
Net loss	$ (12,944)	$ (15,115)	$ (18,152)	$ (11,139)	$ (28,059)	$ (29,291)
Denominator
Weighted-average shares (denominator for basic earnings (loss) per share)	78,430		77,944		78,371	77,776
Dilutive effect of outstanding stock options, restricted stock and restricted stock unit awards	0		0		0	0
Denominator for diluted earnings (loss) per share	78,430		77,944		78,371	77,776
Loss per common share - Basic	$ (0.17)		$ (0.23)		$ (0.36)	$ (0.38)
Loss per common share - Diluted	$ (0.17)		$ (0.23)		$ (0.36)	$ (0.38)
Share-based Payment Arrangement [Member]
Denominator
Potentially dilutive securities excluded as anti-dilutive	4,858		4,055		3,709	5,015

XML

Stock-Based Compensation Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
	Apr. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price		$ 0.25		$ 0.25
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period				3 years
Award Expiration Period				10 years
Granted				0	0
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period				1 year
Awards granted		648,100	78,632	648,100	78,632
Weighted average grant date awards granted, fair value		$ 0.79	$ 5.85	$ 0.79	$ 5.85
Restricted Stock Units (RSUs) [Member] | Time-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period				3 years
Awards granted		0	0	870,648	788,377
Weighted average grant date awards granted, fair value		$ 0.00	$ 0.00	$ 1.38	$ 3.85
Restricted Stock Units (RSUs) [Member] | Performance-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period				39 months
Awards granted				0	0
Award Performance Period				3 years
Restricted Stock Units (RSUs) [Member] | Performance-Based RSUs, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Award, Estimated Achievement Level, Percentage		80.00%		80.00%
Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sensitivity Analysis of Fair Value, Change in Compensation Cost Due to Change in Assumption, Impact of $1 Increase in Price of Common Stock				$ 1.0
Share-based Compensation Arrangement by Share-based Payment Award, Estimated Weighted Average Achievement Level, Percentage		100.00%		100.00%
Phantom Share Units (PSUs) [Member] | Phantom Share Units, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Share-based Liabilities Paid	$ 3.5
Share-based Payment Award, Actual Achievement Level, Percentage	175.00%
Time-based phantom stock unit awards [Member] | Phantom Share Units (PSUs) [Member] | Phantom Stock Units, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted					0
Weighted average grant date awards granted, fair value					$ 0.00
Time-based phantom stock unit awards [Member] | Phantom Share Units (PSUs) [Member] | Phantom Stock Units, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period				3 years
Awards granted				810,648
Weighted average grant date awards granted, fair value				$ 1.17
Performance-based phantom stock unit awards [Member] | Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period				39 months
Award Performance Period				3 years
Performance-based phantom stock unit awards [Member] | Phantom Share Units (PSUs) [Member] | Phantom Stock Units, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted					1,188,216
Weighted average grant date awards granted, fair value					$ 3.06
Performance-based phantom stock unit awards [Member] | Phantom Share Units (PSUs) [Member] | Phantom Stock Units, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted		0	0	2,467,776
Weighted average grant date awards granted, fair value				$ 1.10

XML

Stock-Based Compensation Plans (Schedule of Allocation of Share-based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Noncash Expense	$ 327	$ 1,097	$ 1,194	$ 2,356
Phantom stock unit awards			51	6,529
Stock Options [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Noncash Expense	23	99	74	241
Restricted Stock [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Noncash Expense	121	115	235	228
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Payment Arrangement, Noncash Expense	183	883	885	1,887
Phantom Share Units (PSUs) [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Phantom stock unit awards	$ (797)	$ 6,099	$ 51	$ 6,529

XML

Stock-Based Compensation Plans (Schedule of Restricted Stock Unit Activity) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Time-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted	0	0	870,648	788,377
Restricted Stock Units, Weighted Average Grant Date Fair Value per unit, Granted	$ 0.00	$ 0.00	$ 1.38	$ 3.85
Performance-Based RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted			0	0

XML

Stock-Based Compensation Plans (Schedule of Phantom Stock Unit Activity) (Details) - Phantom Share Units (PSUs) [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Performance-based phantom stock unit awards [Member] | Phantom Stock Units, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted	0	0	2,467,776
Weighted average grant date awards granted, fair value			$ 1.10
Performance-based phantom stock unit awards [Member] | Phantom Stock Units, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted				1,188,216
Weighted average grant date awards granted, fair value				$ 3.06
Time-based phantom stock unit awards [Member] | Phantom Stock Units, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted			810,648
Weighted average grant date awards granted, fair value			$ 1.17
Time-based phantom stock unit awards [Member] | Phantom Stock Units, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted				0
Weighted average grant date awards granted, fair value				$ 0.00
Maximum [Member] | Performance-based phantom stock unit awards [Member] | Phantom Stock Units, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Award, Maximum Cash Value of Phantom Stock Unit Awards			$ 4.62
Maximum [Member] | Performance-based phantom stock unit awards [Member] | Phantom Stock Units, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Award, Maximum Cash Value of Phantom Stock Unit Awards				$ 9.66
Maximum [Member] | Time-based phantom stock unit awards [Member] | Phantom Stock Units, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Award, Maximum Cash Value of Phantom Stock Unit Awards			$ 4.62
Maximum [Member] | Time-based phantom stock unit awards [Member] | Phantom Stock Units, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Award, Maximum Cash Value of Phantom Stock Unit Awards				$ 0.00

XML

Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019 USD ($) drilling_rigs	Jun. 30, 2018 USD ($) drilling_rigs	Jun. 30, 2019 USD ($) drilling_rigs segments	Jun. 30, 2018 USD ($) drilling_rigs	Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments | segments			5
Revenues	$ 152,843	$ 154,782	$ 299,411	$ 299,260
Operating costs	115,970	114,197	224,555	216,963
Consolidated Gross Margin	36,873	40,585	74,856	82,297
Total assets	723,669	757,044	723,669	757,044	$ 741,550
Depreciation	22,851	23,287	45,504	47,034
Capital Expenditures	9,241	19,337	27,616	33,925
Related Party Transaction, Due from (to) Related Party, Current	0		$ 0		$ 0
Drilling Services [Member]
Segment Reporting Information [Line Items]
Number of Operating Segments | segments			2
Revenues	65,074	57,407	$ 124,726	110,944
Operating costs	43,253	38,813	82,207	72,672
Consolidated Gross Margin	21,821	18,594	42,519	38,272
Total assets	412,635	422,812	412,635	422,812
Depreciation	12,261	11,440	24,149	23,336
Capital Expenditures	$ 3,849	5,949	$ 13,849	11,407
Drilling Rigs | drilling_rigs	25		25
Drilling Services [Member] | Domestic Drilling [Member]
Segment Reporting Information [Line Items]
Revenues	$ 39,652	35,634	$ 77,661	71,560
Operating costs	24,698	21,749	47,167	42,647
Consolidated Gross Margin	14,954	13,885	30,494	28,913
Total assets	365,477	380,355	365,477	380,355
Depreciation	10,888	10,139	21,433	20,588
Capital Expenditures	3,325	4,736	11,567	7,494
Related Party Transaction, Due from (to) Related Party, Current	38,600	35,100	38,600	35,100
Drilling Services [Member] | International Drilling [Member]
Segment Reporting Information [Line Items]
Revenues	25,422	21,773	47,065	39,384
Operating costs	18,555	17,064	35,040	30,025
Consolidated Gross Margin	6,867	4,709	12,025	9,359
Total assets	47,158	42,457	47,158	42,457
Depreciation	1,373	1,301	2,716	2,748
Capital Expenditures	524	1,213	2,282	3,913
Related Party Transaction, Due from (to) Related Party, Current	$ (38,600)	$ (35,100)	$ (38,600)	$ (35,100)
Drilling Services [Member] | International Drilling [Member] | Drilling Rigs [Member]
Segment Reporting Information [Line Items]
Drilling Rigs | drilling_rigs	5	5	5	5
Drilling Services [Member] | International Drilling [Member] | Assets Leased From Others [Member]
Segment Reporting Information [Line Items]
Drilling Rigs | drilling_rigs	3	3	3	3
Drilling Services [Member] | United States [Member] | Domestic Drilling [Member]
Segment Reporting Information [Line Items]
Drilling Divisions	3		3
Drilling Rigs | drilling_rigs	17		17
Production Services [Member]
Segment Reporting Information [Line Items]
Number of Operating Segments | segments			3
Revenues	$ 87,769	$ 97,375	$ 174,685	$ 188,316
Operating costs	72,717	75,384	142,348	144,291
Consolidated Gross Margin	15,052	21,991	32,337	44,025
Total assets	252,885	255,590	252,885	255,590
Depreciation	10,380	11,580	20,865	23,140
Capital Expenditures	5,016	13,137	13,270	22,023
Production Services [Member] | Well Servicing [Member]
Segment Reporting Information [Line Items]
Revenues	29,506	23,162	55,760	44,276
Operating costs	21,038	16,680	39,934	32,250
Consolidated Gross Margin	8,468	6,482	15,826	12,026
Total assets	121,180	124,458	121,180	124,458
Depreciation	4,942	4,865	9,824	9,785
Capital Expenditures	2,141	3,403	6,036	5,452
Production Services [Member] | Wireline Services [Member]
Segment Reporting Information [Line Items]
Revenues	47,386	62,137	93,260	118,738
Operating costs	41,804	46,716	81,151	89,202
Consolidated Gross Margin	5,582	15,421	12,109	29,536
Total assets	94,413	99,243	94,413	99,243
Depreciation	3,907	4,601	7,982	9,209
Capital Expenditures	1,588	4,917	4,423	8,590
Production Services [Member] | Coiled Tubing Services [Member]
Segment Reporting Information [Line Items]
Revenues	10,877	12,076	25,665	25,302
Operating costs	9,875	11,988	21,263	22,839
Consolidated Gross Margin	1,002	88	4,402	2,463
Total assets	37,292	31,889	37,292	31,889
Depreciation	1,531	2,114	3,059	4,146
Capital Expenditures	1,287	4,817	2,811	7,981
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Total assets	58,149	78,642	58,149	78,642
Depreciation	210	267	490	558
Capital Expenditures	$ 376	$ 251	$ 497	$ 495

XML

Segment Information (Schedule of Segment Reporting Information) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019 USD ($) drilling_rigs	Jun. 30, 2018 USD ($) drilling_rigs	Jun. 30, 2019 USD ($) drilling_rigs	Jun. 30, 2018 USD ($) drilling_rigs	Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Revenues	$ 152,843	$ 154,782	$ 299,411	$ 299,260
Operating costs	115,970	114,197	224,555	216,963
Segment/Consolidated Margin	36,873	40,585	74,856	82,297
Identifiable assets	723,669	757,044	723,669	757,044	$ 741,550
Depreciation	22,851	23,287	45,504	47,034
Capital Expenditures	9,241	19,337	27,616	33,925
Related Party Transaction, Due from (to) Related Party, Current	0		0		$ 0
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Identifiable assets	58,149	78,642	58,149	78,642
Depreciation	210	267	490	558
Capital Expenditures	376	251	497	495
Drilling Services [Member]
Segment Reporting Information [Line Items]
Revenues	65,074	57,407	124,726	110,944
Operating costs	43,253	38,813	82,207	72,672
Segment/Consolidated Margin	21,821	18,594	42,519	38,272
Identifiable assets	412,635	422,812	412,635	422,812
Depreciation	12,261	11,440	24,149	23,336
Capital Expenditures	$ 3,849	5,949	$ 13,849	11,407
Drilling Rigs | drilling_rigs	25		25
Drilling Services [Member] | Domestic Drilling [Member]
Segment Reporting Information [Line Items]
Revenues	$ 39,652	35,634	$ 77,661	71,560
Operating costs	24,698	21,749	47,167	42,647
Segment/Consolidated Margin	14,954	13,885	30,494	28,913
Identifiable assets	365,477	380,355	365,477	380,355
Depreciation	10,888	10,139	21,433	20,588
Capital Expenditures	3,325	4,736	11,567	7,494
Related Party Transaction, Due from (to) Related Party, Current	38,600	35,100	38,600	35,100
Drilling Services [Member] | International Drilling [Member]
Segment Reporting Information [Line Items]
Revenues	25,422	21,773	47,065	39,384
Operating costs	18,555	17,064	35,040	30,025
Segment/Consolidated Margin	6,867	4,709	12,025	9,359
Identifiable assets	47,158	42,457	47,158	42,457
Depreciation	1,373	1,301	2,716	2,748
Capital Expenditures	524	1,213	2,282	3,913
Related Party Transaction, Due from (to) Related Party, Current	$ (38,600)	$ (35,100)	$ (38,600)	$ (35,100)
Drilling Services [Member] | Drilling Rigs [Member] | International Drilling [Member]
Segment Reporting Information [Line Items]
Drilling Rigs | drilling_rigs	5	5	5	5
Drilling Services [Member] | Assets Leased From Others [Member] | International Drilling [Member]
Segment Reporting Information [Line Items]
Drilling Rigs | drilling_rigs	3	3	3	3
Production Services [Member]
Segment Reporting Information [Line Items]
Revenues	$ 87,769	$ 97,375	$ 174,685	$ 188,316
Operating costs	72,717	75,384	142,348	144,291
Segment/Consolidated Margin	15,052	21,991	32,337	44,025
Identifiable assets	252,885	255,590	252,885	255,590
Depreciation	10,380	11,580	20,865	23,140
Capital Expenditures	5,016	13,137	13,270	22,023
Production Services [Member] | Well Servicing [Member]
Segment Reporting Information [Line Items]
Revenues	29,506	23,162	55,760	44,276
Operating costs	21,038	16,680	39,934	32,250
Segment/Consolidated Margin	8,468	6,482	15,826	12,026
Identifiable assets	121,180	124,458	121,180	124,458
Depreciation	4,942	4,865	9,824	9,785
Capital Expenditures	2,141	3,403	6,036	5,452
Production Services [Member] | Wireline Services [Member]
Segment Reporting Information [Line Items]
Revenues	47,386	62,137	93,260	118,738
Operating costs	41,804	46,716	81,151	89,202
Segment/Consolidated Margin	5,582	15,421	12,109	29,536
Identifiable assets	94,413	99,243	94,413	99,243
Depreciation	3,907	4,601	7,982	9,209
Capital Expenditures	1,588	4,917	4,423	8,590
Production Services [Member] | Coiled Tubing Services [Member]
Segment Reporting Information [Line Items]
Revenues	10,877	12,076	25,665	25,302
Operating costs	9,875	11,988	21,263	22,839
Segment/Consolidated Margin	1,002	88	4,402	2,463
Identifiable assets	37,292	31,889	37,292	31,889
Depreciation	1,531	2,114	3,059	4,146
Capital Expenditures	$ 1,287	$ 4,817	$ 2,811	$ 7,981

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Segment Information (Reconciliation of Revenue from Segments to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting [Abstract]
Consolidated Gross Margin	$ 36,873	$ 40,585	$ 74,856	$ 82,297
Depreciation	(22,851)	(23,287)	(45,504)	(47,034)
General and administrative	(18,028)	(24,829)	(37,786)	(44,023)
Bad debt recovery, net	348	370	286	422
Impairment	(332)	(2,368)	(1,378)	(2,368)
Gain on dispositions of property and equipment, net	1,126	726	2,201	1,061
Loss from operations	$ (2,864)	$ (8,803)	$ (7,325)	$ (9,645)

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Commitments and Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Loss Contingencies [Line Items]
Guarantor Obligations, Current Carrying Value	$ 63.0
Sales and Use Tax [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 1.8	$ 1.7

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Guarantor/Non Guarantor Condensed Consolidating Financial Statements Narrative (Details)	Mar. 18, 2014
Senior Notes [Member] | Senior Notes [Member]
Debt Instrument Domestic Subsidiaries That Secure Debt Obligations, Ownership Percentage	100.00%

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Guarantor/Non Guarantor Condensed Consolidating Financial Statements (Balance Sheet)) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 30,132		$ 53,566
Restricted cash	998		998
Receivables, net of allowance	145,572		130,881
Intercompany receivable (payable)	0		0
Inventory	22,800		18,898
Assets held for sale	5,962		3,582
Prepaid expenses and other current assets	7,061		7,109
Total current assets	212,525		215,034
Net property and equipment	500,843		524,858
Investments in subsidiaries	0		0
Deferred income taxes	0		0
Operating lease assets	8,775		0
Other noncurrent assets	1,526		1,658
Total assets	723,669		741,550	$ 757,044
Current liabilities:
Accounts payable	41,019		34,134
Deferred revenues	1,420		1,722
Accrued expenses	63,561		68,912
Total current liabilities	106,000		104,768
Long-term debt, less unamortized discount and debt issuance costs	466,093		464,552
Noncurrent operating lease liabilities	6,495		0
Deferred income taxes	4,913		3,688
Other noncurrent liabilities	1,823		3,484
Total liabilities	585,324		576,492
Total shareholders' equity	138,345	$ 150,967	165,058	$ 182,691	$ 200,187	$ 210,096
Total liabilities and shareholders' equity	723,669		741,550
Eliminations [Member]
Current assets:
Cash and cash equivalents	0		0
Restricted cash	0		0
Receivables, net of allowance	568		196
Intercompany receivable (payable)	0		0
Inventory	0		0
Assets held for sale	0		0
Prepaid expenses and other current assets	0		0
Total current assets	568		196
Net property and equipment	0		0
Investments in subsidiaries	(601,090)		(600,065)
Deferred income taxes	(43,490)		(42,585)
Operating lease assets	0
Other noncurrent assets	0		0
Total assets	(644,012)		(642,454)
Current liabilities:
Accounts payable	0		0
Deferred revenues	0		0
Accrued expenses	568		196
Total current liabilities	568		196
Long-term debt, less unamortized discount and debt issuance costs	0		0
Noncurrent operating lease liabilities	0
Deferred income taxes	(43,490)		(42,585)
Other noncurrent liabilities	0		0
Total liabilities	(42,922)		(42,389)
Total shareholders' equity	(601,090)		(600,065)
Total liabilities and shareholders' equity	(644,012)		(642,454)
Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	0		0
Restricted cash	0		0
Receivables, net of allowance	108,747		95,030
Intercompany receivable (payable)	65,708		67,098
Inventory	11,784		9,945
Assets held for sale	5,962		3,582
Prepaid expenses and other current assets	3,591		3,197
Total current assets	195,792		178,852
Net property and equipment	471,153		494,376
Investments in subsidiaries	31,020		25,370
Deferred income taxes	0		0
Operating lease assets	4,779
Other noncurrent assets	485		511
Total assets	703,229		699,109
Current liabilities:
Accounts payable	32,324		26,795
Deferred revenues	528		95
Accrued expenses	48,063		49,640
Total current liabilities	80,915		76,530
Long-term debt, less unamortized discount and debt issuance costs	0		0
Noncurrent operating lease liabilities	3,034
Deferred income taxes	48,403		46,273
Other noncurrent liabilities	807		1,611
Total liabilities	133,159		124,414
Total shareholders' equity	570,070		574,695
Total liabilities and shareholders' equity	703,229		699,109
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	4,541		3,216
Restricted cash	0		0
Receivables, net of allowance	36,088		35,219
Intercompany receivable (payable)	(38,345)		(39,853)
Inventory	11,016		8,953
Assets held for sale	0		0
Prepaid expenses and other current assets	1,169		2,169
Total current assets	14,469		9,704
Net property and equipment	27,661		28,460
Investments in subsidiaries	0		0
Deferred income taxes	0		0
Operating lease assets	643
Other noncurrent assets	425		551
Total assets	43,198		38,715
Current liabilities:
Accounts payable	5,897		6,246
Deferred revenues	892		1,627
Accrued expenses	4,664		5,056
Total current liabilities	11,453		12,929
Long-term debt, less unamortized discount and debt issuance costs	0		0
Noncurrent operating lease liabilities	493
Deferred income taxes	0		0
Other noncurrent liabilities	232		416
Total liabilities	12,178		13,345
Total shareholders' equity	31,020		25,370
Total liabilities and shareholders' equity	43,198		38,715
Parent [Member]
Current assets:
Cash and cash equivalents	25,591		50,350
Restricted cash	998		998
Receivables, net of allowance	169		436
Intercompany receivable (payable)	(27,363)		(27,245)
Inventory	0		0
Assets held for sale	0		0
Prepaid expenses and other current assets	2,301		1,743
Total current assets	1,696		26,282
Net property and equipment	2,029		2,022
Investments in subsidiaries	570,070		574,695
Deferred income taxes	43,490		42,585
Operating lease assets	3,353
Other noncurrent assets	616		596
Total assets	621,254		646,180
Current liabilities:
Accounts payable	2,798		1,093
Deferred revenues	0		0
Accrued expenses	10,266		14,020
Total current liabilities	13,064		15,113
Long-term debt, less unamortized discount and debt issuance costs	466,093		464,552
Noncurrent operating lease liabilities	2,968
Deferred income taxes	0		0
Other noncurrent liabilities	784		1,457
Total liabilities	482,909		481,122
Total shareholders' equity	138,345		165,058
Total liabilities and shareholders' equity	$ 621,254		$ 646,180

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Guarantor/Non Guarantor Condensed Consolidating Financial Statements (Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 152,843		$ 154,782		$ 299,411	$ 299,260
Costs and expenses:
Operating costs	115,970		114,197		224,555	216,963
Depreciation	22,851		23,287		45,504	47,034
General and administrative	18,028		24,829		37,786	44,023
Bad debt expense (recovery), net	(348)		(370)		(286)	(422)
Impairment	332		2,368		1,378	2,368
Gain on dispositions of property and equipment, net	(1,126)		(726)		(2,201)	(1,061)
Intercompany leasing	0		0		0	0
Total costs and expenses	155,707		163,585		306,736	308,905
Income (loss) from operations	(2,864)		(8,803)		(7,325)	(9,645)
Other income (expense):
Equity in earnings of subsidiaries	0		0		0	0
Interest expense, net of interest capitalized	(10,105)		(9,642)		(19,990)	(19,155)
Other income (expense), net	349		44		1,033	548
Total other income (expense)	(9,756)		(9,598)		(18,957)	(18,607)
Income (loss) before income taxes	(12,620)		(18,401)		(26,282)	(28,252)
Income tax benefit (expense)	(324)		249		(1,777)	(1,039)
Net income (loss)	(12,944)	$ (15,115)	(18,152)	$ (11,139)	(28,059)	(29,291)
Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	0		0		0	0
Costs and expenses:
Operating costs	0		0		0	0
Depreciation	0		0		0	0
General and administrative	(135)		(105)		(270)	(210)
Bad debt expense (recovery), net	0		0		0	0
Impairment	0		0		0	0
Gain on dispositions of property and equipment, net	0		0		0	0
Intercompany leasing	0		0		0	0
Total costs and expenses	(135)		(105)		(270)	(210)
Income (loss) from operations	135		105		270	210
Other income (expense):
Equity in earnings of subsidiaries	(6,736)		(1,555)		(11,968)	(7,757)
Interest expense, net of interest capitalized	0		0		0	0
Other income (expense), net	(135)		(105)		(270)	(210)
Total other income (expense)	(6,871)		(1,660)		(12,238)	(7,967)
Income (loss) before income taxes	(6,736)		(1,555)		(11,968)	(7,757)
Income tax benefit (expense)	0		0		0	0
Net income (loss)	(6,736)		(1,555)		(11,968)	(7,757)
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	127,421		133,008		252,346	259,875
Costs and expenses:
Operating costs	97,417		97,134		189,519	186,943
Depreciation	21,268		21,720		42,298	43,729
General and administrative	10,579		14,090		22,025	26,629
Bad debt expense (recovery), net	(348)		(370)		(286)	(422)
Impairment	332		2,368		1,378	2,368
Gain on dispositions of property and equipment, net	(1,121)		(713)		(2,105)	(1,034)
Intercompany leasing	(1,215)		(1,215)		(2,430)	(2,430)
Total costs and expenses	126,912		133,014		250,399	255,783
Income (loss) from operations	509		(6)		1,947	4,092
Other income (expense):
Equity in earnings of subsidiaries	3,431		1,034		5,895	2,687
Interest expense, net of interest capitalized	(1)		(2)		(15)	(2)
Other income (expense), net	401		223		667	442
Total other income (expense)	3,831		1,255		6,547	3,127
Income (loss) before income taxes	4,340		1,249		8,494	7,219
Income tax benefit (expense)	(1,035)		(728)		(2,421)	(2,149)
Net income (loss)	3,305		521		6,073	5,070
Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	25,422		21,774		47,065	39,385
Costs and expenses:
Operating costs	18,553		17,063		35,036	30,020
Depreciation	1,373		1,301		2,716	2,748
General and administrative	677		714		1,128	1,236
Bad debt expense (recovery), net	0		0		0	0
Impairment	0		0		0	0
Gain on dispositions of property and equipment, net	(5)		(13)		(96)	(27)
Intercompany leasing	1,215		1,215		2,430	2,430
Total costs and expenses	21,813		20,280		41,214	36,407
Income (loss) from operations	3,609		1,494		5,851	2,978
Other income (expense):
Equity in earnings of subsidiaries	0		0		0	0
Interest expense, net of interest capitalized	(45)		5		(42)	8
Other income (expense), net	(8)		(233)		339	155
Total other income (expense)	(53)		(228)		297	163
Income (loss) before income taxes	3,556		1,266		6,148	3,141
Income tax benefit (expense)	(125)		(232)		(253)	(454)
Net income (loss)	3,431		1,034		5,895	2,687
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	0		0		0	0
Costs and expenses:
Operating costs	0		0		0	0
Depreciation	210		266		490	557
General and administrative	6,907		10,130		14,903	16,368
Bad debt expense (recovery), net	0		0		0	0
Impairment	0		0		0	0
Gain on dispositions of property and equipment, net	0		0		0	0
Intercompany leasing	0		0		0	0
Total costs and expenses	7,117		10,396		15,393	16,925
Income (loss) from operations	(7,117)		(10,396)		(15,393)	(16,925)
Other income (expense):
Equity in earnings of subsidiaries	3,305		521		6,073	5,070
Interest expense, net of interest capitalized	(10,059)		(9,645)		(19,933)	(19,161)
Other income (expense), net	91		159		297	161
Total other income (expense)	(6,663)		(8,965)		(13,563)	(13,930)
Income (loss) before income taxes	(13,780)		(19,361)		(28,956)	(30,855)
Income tax benefit (expense)	836		1,209		897	1,564
Net income (loss)	$ (12,944)		$ (18,152)		$ (28,059)	$ (29,291)

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Guarantor/Non Guarantor Condensed Consolidating Financial Statements (Cash Flows)) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Condensed Financial Statements, Captions [Line Items]
Cash flows from operating activities	$ 4,046	$ 17,125
Cash flows from investing activities:
Purchases of property and equipment	(31,382)	(31,485)
Proceeds from sale of property and equipment	3,439	2,225
Proceeds from insurance recoveries	588	541
Net cash provided by (used in) investing activities	(27,355)	(28,719)
Cash flows from financing activities:
Proceeds from exercise of options	0	12
Purchase of treasury stock	(125)	(549)
Proceeds from (Payments for) Contributions from Affiliates	0	0
Net cash used in financing activities	(125)	(537)
Net decrease in cash, cash equivalents and restricted cash	(23,434)	(12,131)
Beginning cash, cash equivalents, and restricted cash	54,564	75,648
Ending cash, cash equivalents, and restricted cash	31,130	63,517
Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Cash flows from operating activities	0	0
Cash flows from investing activities:
Purchases of property and equipment	0	0
Proceeds from sale of property and equipment	0	0
Proceeds from insurance recoveries	0	0
Net cash provided by (used in) investing activities	0	0
Cash flows from financing activities:
Proceeds from exercise of options		0
Purchase of treasury stock	0	0
Proceeds from (Payments for) Contributions from Affiliates	0	0
Net cash used in financing activities	0	0
Net decrease in cash, cash equivalents and restricted cash	0	0
Beginning cash, cash equivalents, and restricted cash	0	0
Ending cash, cash equivalents, and restricted cash	0	0
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Cash flows from operating activities	35,209	37,071
Cash flows from investing activities:
Purchases of property and equipment	(28,634)	(26,989)
Proceeds from sale of property and equipment	3,376	2,212
Proceeds from insurance recoveries	588	527
Net cash provided by (used in) investing activities	(24,670)	(24,250)
Cash flows from financing activities:
Proceeds from exercise of options		0
Purchase of treasury stock	0	0
Proceeds from (Payments for) Contributions from Affiliates	(10,539)	(12,821)
Net cash used in financing activities	(10,539)	(12,821)
Net decrease in cash, cash equivalents and restricted cash	0	0
Beginning cash, cash equivalents, and restricted cash	0	0
Ending cash, cash equivalents, and restricted cash	0	0
Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Cash flows from operating activities	3,941	6,680
Cash flows from investing activities:
Purchases of property and equipment	(2,434)	(4,061)
Proceeds from sale of property and equipment	63	13
Proceeds from insurance recoveries	0	14
Net cash provided by (used in) investing activities	(2,371)	(4,034)
Cash flows from financing activities:
Proceeds from exercise of options		0
Purchase of treasury stock	0	0
Proceeds from (Payments for) Contributions from Affiliates	(245)	(55)
Net cash used in financing activities	(245)	(55)
Net decrease in cash, cash equivalents and restricted cash	1,325	2,591
Beginning cash, cash equivalents, and restricted cash	3,216	3,263
Ending cash, cash equivalents, and restricted cash	4,541	5,854
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Cash flows from operating activities	(35,104)	(26,626)
Cash flows from investing activities:
Purchases of property and equipment	(314)	(435)
Proceeds from sale of property and equipment	0	0
Proceeds from insurance recoveries	0	0
Net cash provided by (used in) investing activities	(314)	(435)
Cash flows from financing activities:
Proceeds from exercise of options		12
Purchase of treasury stock	(125)	(549)
Proceeds from (Payments for) Contributions from Affiliates	10,784	12,876
Net cash used in financing activities	10,659	12,339
Net decrease in cash, cash equivalents and restricted cash	(24,759)	(14,722)
Beginning cash, cash equivalents, and restricted cash	51,348	72,385
Ending cash, cash equivalents, and restricted cash	$ 26,589	$ 57,663