Alliance Acquisition (Tables)

9 Months Ended

Sep. 30, 2022

Alliance Acquisition

Schedule of purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities

The following table summarizes the purchase consideration and the preliminary purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):

	July 1, 2022
Cash consideration	$	118,961
Contingent consideration		26,700
Total fair value of consideration transferred	$	145,661
Assets acquired:
Cash and cash equivalents	$	6,336
Accounts receivable (1)		43,378
Other current assets		4,879
Property and equipment		118,619
Operating lease right-of-use assets		1,205
Intangible assets		1,400
Other assets		2,133
Total assets acquired	$	177,950
Liabilities assumed:
Accounts payable	$	20,480
Accrued liabilities		3,073
Operating lease liabilities		1,205
Deferred tax liabilities		7,531
Total liabilities assumed		32,289
Net assets acquired	$	145,661

(1) The gross contractual accounts receivable totaled $44.2 million. The fair value of accounts receivable reflects our best estimate at the acquisition date of contractual cash flows not expected to be collected.

Schedule of pro forma information

The following table summarizes the pro forma results of Helix and Alliance (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Revenues	$	272,547	$	228,574	$	665,021	$	591,179
Net loss		(18,763)		(8,828)		(81,069)		(29,620)