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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Operating revenues:        
Total operating revenues $ 357,885,000 $ 207,141,000 $ 890,588,000 $ 903,448,000
Operating costs and expenses:        
Depreciation, depletion, amortization and impairment 141,065,000 157,319,000 437,984,000 517,201,000
Impairment of goodwill 0 0 0 395,060,000
Selling, general and administrative 22,063,000 22,355,000 68,176,000 76,692,000
Merger and integration expenses 918,000 2,066,000
Credit loss expense 0 0 0 5,606,000
Restructuring expenses 38,338,000
Other operating (income) expenses, net (1,219,000) 776,000 (3,743,000) 5,980,000
Total operating costs and expenses 447,894,000 321,707,000 1,207,534,000 1,671,508,000
Operating loss (90,009,000) (114,566,000) (316,946,000) (768,060,000)
Other income (expense):        
Interest income 37,000 238,000 196,000 1,229,000
Interest expense, net of amount capitalized (10,683,000) (11,288,000) (31,396,000) (33,496,000)
Other 14,000 512,000 840,000 682,000
Total other expense (10,632,000) (10,538,000) (30,360,000) (31,585,000)
Loss before income taxes (100,641,000) (125,104,000) (347,306,000) (799,645,000)
Income tax benefit (17,643,000) (12,993,000) (54,586,000) (102,480,000)
Net loss $ (82,998,000) $ (112,111,000) $ (292,720,000) $ (697,165,000)
Net loss per common share:        
Basic $ (0.44) $ (0.60) $ (1.55) $ (3.70)
Diluted $ (0.44) $ (0.60) $ (1.55) $ (3.70)
Weighted average number of common shares outstanding:        
Basic 188,965 187,280 188,355 188,193
Diluted 188,965 187,280 188,355 188,193
Cash dividends per common share $ 0.02 $ 0.02 $ 0.06 $ 0.08
Contract Drilling        
Operating revenues:        
Total operating revenues $ 157,925,000 $ 115,054,000 $ 433,158,000 $ 553,552,000
Operating costs and expenses:        
Operating costs and expenses 111,537,000 59,117,000 291,049,000 309,664,000
Pressure Pumping        
Operating revenues:        
Total operating revenues 152,634,000 71,973,000 340,464,000 256,613,000
Operating costs and expenses:        
Operating costs and expenses 134,726,000 63,721,000 313,556,000 234,844,000
Directional Drilling        
Operating revenues:        
Total operating revenues 31,728,000 10,271,000 76,267,000 56,498,000
Operating costs and expenses:        
Operating costs and expenses 28,360,000 9,754,000 67,367,000 54,348,000
Other        
Operating revenues:        
Total operating revenues 15,598,000 9,843,000 40,699,000 36,785,000
Operating costs and expenses:        
Operating costs and expenses $ 10,444,000 $ 8,665,000 $ 31,079,000 $ 33,775,000