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New words:
accretion, achieve, achieving, alternative, antitrust, appeal, appraisal, attempt, automatically, body, borne, brought, cease, circumstance, commercially, contest, contingent, cooperate, counsel, Crescent, cure, decide, decree, defending, defense, degree, delivered, delivery, Department, desirable, desired, DGCL, diminish, discourage, dissent, dissenting, divert, divestiture, DOJ, enable, encourage, endorse, enforced, enforcement, enjoin, enjoining, entry, equitable, exacerbated, extraordinary, fail, flat, formulating, fractional, FTC, goodwill, HSR, illegal, injunction, injunctive, inquiry, intact, integration, intervening, investigation, IRS, ix, judicial, Justice, knowingly, lawsuit, lead, lieu, magnitude, mailing, merge, merit, modify, NASDAQ, negotiate, negotiating, negotiation, nonappealable, notification, opportunity, partner, Patterson, payoff, pendency, percent, physical, plaintiff, power, preserve, prevent, preventing, primary, printing, Private, proceed, proceeding, prohibiting, prohibition, promptly, properly, proposal, proposed, proposing, proxy, qualification, quotient, Ranch, receipt, recommendation, refuse, reinstatement, repair, request, requisite, rescind, restraining, restraint, retire, retired, retirement, satisfaction, sixty, solicit, strike, successful, suffer, Superior, surviving, threated, timeframe, trailed, tribunal, true, unanticipated, unresolved, upward, validly, venture, viii, voluntarily, VWAP, waiting, waive, waived, waiver, wholly, withdraw
Removed:
commencing, experiencing, imputed, realignment, suspended
Financial report summary
?Competition
Weatherford International • Halliburton • Schlumberger • Key Energy Services • RPC • Nabors Industries • Superior Energy Services • Patterson-UTI Energy • Precision Drilling • Basic Energy ServicesManagement Discussion
- As a result of our emergence from Chapter 11 on May 29, 2020, our financial results for the periods prior to the fresh start reporting date of May 31, 2020 are referred to as those of the “Predecessor,” and our financial results for the periods subsequent to May 31, 2020 are referred to as those of the “Successor.”
- Although the Successor period(s) and the Predecessor period(s) are distinct reporting periods, we have combined the Successor and Predecessor period results during the three and six months ended June 30, 2020 in order to provide some comparability of such information to the corresponding Successor periods ended June 30, 2021. While this combined presentation is not presented according to generally accepted accounting principles in the United States of America (GAAP) and no comparable GAAP measures are presented, management believes that providing this financial information is the most relevant and useful method for making comparisons to the corresponding Successor periods as reviewing the Successor period results in isolation would not be useful in identifying trends in or reaching conclusions regarding our overall operating performance.
- (1) Adjusted EBITDA represents income (loss) before interest expense, income tax (expense) benefit, depreciation and amortization, prepetition restructuring charges, impairment, reorganization items, and loss on extinguishment of debt. Adjusted EBITDA is a non-GAAP measure that our management uses to facilitate period-to-period comparisons of our core operating performance and to evaluate our long-term financial performance against that of our peers. We believe that this measure is useful to investors and analysts in allowing for greater transparency of our core operating performance and makes it easier to compare our results with those of other companies within our industry. Adjusted EBITDA should not be considered (a) in isolation of, or as a substitute for, net income (loss), (b) as an indication of cash flows from operating activities or (c) as a measure of liquidity. In addition, Adjusted EBITDA does not represent funds available for discretionary use. Adjusted EBITDA may not be comparable to other similarly titled measures reported by other companies.