Business Segments (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Business Segments - Financial Information

The following tables summarize selected financial information relating to our business segments (in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2022			2021			2022			2021
Revenues:
Contract drilling	$	307,618		$	142,264		$	567,301		$	275,926
Pressure pumping		238,376			111,991			427,966			187,830
Directional drilling		54,825			24,869			98,159			44,539
Other operations (1)		29,233			18,251			54,259			32,817
Elimination of intercompany revenues - Contract drilling (2)		(3,032	)		(532	)		(6,075	)		(693	)
Elimination of intercompany revenues - Other operations (2)		(4,782	)		(5,069	)		(9,997	)		(7,716	)
Total revenues	$	622,238		$	291,774		$	1,131,613		$	532,703
Income (loss) before income taxes:
Contract drilling	$	21,720		$	(58,229	)	$	18,556		$	(106,850	)
Pressure pumping		20,091			(23,921	)		26,512			(63,660	)
Directional drilling		4,028			(5,110	)		5,816			(10,033	)
Other operations		3,300			(3,287	)		4,041			(7,843	)
Corporate		(12,377	)		(18,863	)		(37,044	)		(38,551	)
Interest income		14			20			29			159
Interest expense		(10,658	)		(10,704	)		(21,223	)		(20,713	)
Other		(2,452	)		812			(870	)		826
Income (loss) before income taxes	$	23,666		$	(119,282	)	$	(4,183	)	$	(246,665	)
Depreciation, depletion, amortization and impairment:
Contract drilling	$	84,905		$	98,592		$	166,928		$	200,266
Pressure pumping		24,713			31,740			48,498			69,125
Directional drilling		3,859			6,594			7,203			13,091
Other operations		6,803			5,619			13,200			11,443
Corporate		1,273			1,492			2,662			2,994
Total depreciation, depletion, amortization and impairment	$	121,553		$	144,037		$	238,491		$	296,919
Capital expenditures:
Contract drilling	$	50,165		$	24,042		$	101,875		$	35,469
Pressure pumping		34,554			8,921			68,016			12,989
Directional drilling		4,036			1,219			7,002			1,323
Other operations		7,189			3,429			13,391			6,173
Corporate		426			439			914			619
Total capital expenditures	$	96,370		$	38,050		$	191,198		$	56,573

	June 30, 2022		December 31, 2021
Identifiable assets:
Contract drilling	$	2,177,484	$	2,169,501
Pressure pumping		522,016		458,202
Directional drilling		105,468		87,285
Other operations		99,154		85,932
Corporate (3)		55,855		156,928
Total assets	$	2,959,977	$	2,957,848

(1)Other operations includes our oilfield rentals business, drilling equipment service business, the electrical controls and automation business and the oil and natural gas working interests.

(2)Intercompany revenues consist of revenues from contract drilling for services provided to our other operations, and revenues from other operations for services provided to contract drilling, pressure pumping and within other operations. These revenues are generally based on estimated external selling prices and are eliminated during consolidation.

(3)Corporate assets primarily include cash on hand and certain property and equipment.