PROPERTY, PLANT AND EQUIPMENT (Tables)

3 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment as of December 31, 2022 and September 30, 2022 consisted of the following:

(in thousands)	Estimated Useful Lives	December 31, 2022		September 30, 2022
Drilling services equipment	4 - 15 years	$	6,300,279	$	6,369,888
Tubulars	4 years	570,833		569,496
Real estate properties	10 - 45 years	46,260		45,557
Other	2 - 23 years	429,724		422,479
Construction in progress1		95,321		70,119
		7,442,417		7,477,539
Accumulated depreciation		(4,500,358)		(4,516,730)
Property, plant and equipment, net		$	2,942,059	$	2,960,809
Assets held-for-sale		$	1,551	$	4,333

(1)Included in construction in progress are costs for projects in progress to upgrade or refurbish certain rigs in our existing fleet. Additionally, we include other advances for capital maintenance purchase-orders that are open/in process. As these various projects are completed, the costs are then classified to their appropriate useful life category.

Schedule of Assets Held-for-Sale

The following table summarizes the balance (in thousands) of our assets held-for-sale at the dates indicated below:

Balance at September 30, 2022	$	4,333
Plus:
Asset additions	767
Less:
Sale of assets held-for-sale	(816)
Impairment expense	(2,733)
Balance at December 31, 2022	$	1,551