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FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which we classify the fair value measurement as of the dates indicated below:
June 30, 2023
(in thousands)Fair Value    Level 1    Level 2    Level 3
Assets
Short-term investments:
Corporate debt securities$51,721 $— $51,721 $— 
U.S. government and federal agency securities 20,888 20,888 — — 
Total short-term investments72,609 20,888 51,721 — 
Investments:
Non-qualified supplemental savings plan15,183 15,183 — — 
Equity investment in ADNOC Drilling154,770 154,770 — — 
Equity investment in Tamboran12,623 12,623 — — 
Debt security investment in Galileo35,001 — — 35,001 
Other debt securities2,181 — — 2,181 
Total investments219,758 182,576 — 37,182 
Liabilities
Contingent consideration$8,580 $— $— $8,580 
September 30, 2022
(in thousands)Fair Value    Level 1    Level 2    Level 3
Assets
Short-term investments:
Corporate debt securities$98,264 $— $98,264 $— 
U.S. government and federal agency securities 18,837 18,837 — — 
Total short-term investments117,101 18,837 98,264 — 
Investments:
Non-qualified supplemental savings plan14,301 14,301 — — 
Equity investment in ADNOC Drilling147,370 147,370 — — 
Debt security investment in Galileo33,000 — — 33,000 
Other debt securities565 — — 565 
Total investments195,236 161,671 — 33,565 
Liabilities
Contingent consideration$4,022 $— $— $4,022 
Schedule of Reconciliation of Long Term Debt Securities Available For Sale, Classified as Level 3 The following table reconciles changes in the fair value of our Level 3 assets for the periods presented below:
Three Months Ended
June 30,		Nine Months Ended
June 30,
(in thousands)2023202220232022
Assets at beginning of period$35,140 $3,500 $33,565 $500 
Purchases41 33,024 2,116 36,024 
Accrued interest1
2,001 — 2,001 — 
Transfers out2
— — (500)— 
Assets at end of period$37,182 $36,524 $37,182 $36,524 
(1)During the nine months ended June 30, 2023, our convertible note agreement with Galileo was amended to include any interest which has accrued but not yet compounded or issued as a note. As a result, we have included accrued interest in our total investment balance.
(2)We reclassified a portion of our long-term debt securities to short-term notes receivable and is recorded in accounts receivable on the Unaudited Condensed Consolidated Balance Sheets as of June 30, 2023.
Schedule of Fair Value, Debt Security Measured on Recurring Basis, Unobservable Input Reconciliation
The following table provides quantitative information (in thousands) about our Level 3 unobservable significant inputs related to our debt security investment with Galileo at June 30, 2023:
Fair ValueValuation TechniqueUnobservable Inputs
$35,001 Black-Scholes-Merton modelDiscount rate22.4 %
Risk-free rate4.0 %
Equity volatility92.5 %
Schedule of Reconciliation of Changes in Fair Value of Financial Liabilities Classified as Level 3 The following table reconciles changes in the fair value of our Level 3 liabilities for the periods presented below:
Three Months Ended June 30,Nine Months Ended June 30,
(in thousands)2023202220232022
Liabilities at beginning of period$5,030 $2,996 $4,022 $2,996 
Additions— 1,000 500 1,500 
Total gains or losses:
Included in earnings4,050 — 5,808 (250)
Settlements1
(500)— (1,750)(250)
Liabilities at end of period$8,580 $3,996 $8,580 $3,996 
(1)Settlements represent earnout payments that have been paid or earned during the period.
Schedule of Supplemental Fair Value Information about Long-Term Fixed-Rate Debt The following information presents the supplemental fair value information for our long-term fixed-rate debt at June 30, 2023 and September 30, 2022:
(in millions)June 30, 2023    September 30, 2022
Long-term debt, net
Carrying value$545.0 $542.6 
Fair value443.3 430.7