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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating revenues:        
Total operating revenues $ 727,503 $ 357,885 $ 1,859,116 $ 890,588
Operating costs and expenses:        
Depreciation, depletion, amortization and impairment 122,150 141,065 360,641 437,984
Selling, general and administrative 28,472 22,063 82,012 68,176
Merger and integration related costs 24 918 2,069 2,066
Other operating (income) expenses, net (109) (1,219) (10,565) (3,743)
Total operating costs and expenses 651,158 447,894 1,764,890 1,207,534
Operating loss 76,345 (90,009) 94,226 (316,946)
Other income (expense):        
Interest income 58 37 87 196
Interest expense, net of amount capitalized (10,975) (10,683) (32,198) (31,396)
Other (1,774) 14 (2,644) 840
Total other expense (12,691) (10,632) (34,755) (30,360)
Income (loss) before income taxes 63,654 (100,641) 59,471 (347,306)
Income tax expense (benefit) 2,202 (17,643) 4,910 (54,586)
Net income (loss) $ 61,452 $ (82,998) $ 54,561 $ (292,720)
Net loss per common share:        
Basic $ 0.28 $ (0.44) $ 0.25 $ (1.55)
Diluted $ 0.28 $ (0.44) $ 0.25 $ (1.55)
Weighted average number of common shares outstanding:        
Basic 216,822,000 188,965,000 216,090,000 188,355,000
Diluted 220,454,000 188,965,000 219,381,000 188,355,000
Cash dividends per common share $ 0.04 $ 0.02 $ 0.12 $ 0.06
Contract Drilling        
Operating revenues:        
Total operating revenues $ 356,044 $ 157,925 $ 917,270 $ 433,158
Operating costs and expenses:        
Operating costs and expenses 227,063 111,537 600,038 291,049
Pressure Pumping        
Operating revenues:        
Total operating revenues 287,664 152,634 715,630 340,464
Operating costs and expenses:        
Operating costs and expenses 211,704 134,726 560,627 313,556
Directional Drilling        
Operating revenues:        
Total operating revenues 58,871 31,728 157,030 76,267
Operating costs and expenses:        
Operating costs and expenses 48,445 28,360 130,837 67,367
Other        
Operating revenues:        
Total operating revenues 24,924 15,598 69,186 40,699
Operating costs and expenses:        
Operating costs and expenses $ 13,409 $ 10,444 $ 39,231 $ 31,079