Vantage Drilling International (VTDRF) 10-Q 2 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 20, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	VDI
Entity Registrant Name	VANTAGE DRILLING INTERNATIONAL
Entity Central Index Key	1,465,872
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		5,000,053

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 200,940	$ 231,727
Trade receivables	33,464	20,850
Inventory	44,391	45,206
Prepaid expenses and other current assets	14,895	12,423
Total current assets	293,690	310,206
Property and equipment
Property and equipment	903,924	902,241
Accumulated depreciation	(104,677)	(67,713)
Property and equipment, net	799,247	834,528
Other assets	24,325	15,694
Total assets	1,117,262	1,160,428
Current liabilities
Accounts payable	39,418	35,283
Accrued liabilities	19,277	18,448
Current maturities of long-term debt	4,430	1,430
Total current liabilities	63,125	55,161
Long–term debt, net of discount and financing costs of $80,932 and $105,568	892,073	867,372
Other long-term liabilities	8,595	11,335
Commitments and contingencies (Note 8)
Shareholders' equity
Ordinary shares, $0.001 par value, 50 million shares authorized; 5,000,053 shares issued and outstanding	5	5
Additional paid-in capital	373,972	373,972
Accumulated deficit	(220,508)	(147,417)
Total shareholders' equity	153,469	226,560
Total liabilities and shareholders’ equity	$ 1,117,262	$ 1,160,428

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Long-term debt unamortized discount	$ 80,932	$ 105,568
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, shares authorized	50,000,000	50,000,000
Ordinary shares, shares issued	5,000,053	5,000,053
Ordinary shares, shares outstanding	5,000,053	5,000,053

Consolidated Statement of Opera

Consolidated Statement of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 09, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2017
Revenue
Contract drilling services		$ 47,785	$ 40,901	$ 64,960	$ 85,841
Management fees		405	1,712	2,671	806
Reimbursables		5,073	5,898	10,666	8,665
Total revenue		53,263	48,511	78,297	95,312
Operating costs and expenses
Operating costs		40,184	34,965	62,404	69,182
General and administrative		11,501	8,695	17,863	22,980
Depreciation		18,554	18,381	30,457	36,993
Total operating costs and expenses		70,239	62,041	110,724	129,155
Loss from operations		(16,976)	(13,530)	(32,427)	(33,843)
Other income (expense)
Interest income		215	9	15	356
Interest expense and other financing charges (contractual interest of $23,219 for the period from January 1, 2016 to February 10, 2016)		(19,023)	(18,772)	(29,422)	(37,922)
Other, net		663	(1,516)	318	1,215
Reorganization items			(487)	(641)
Bargain purchase gain		1,910			1,910
Total other expense		(16,235)	(20,766)	(29,730)	(34,441)
Loss before income taxes		(33,211)	(34,296)	(62,157)	(68,284)
Income tax provision		3,381	1,438	2,605	4,807
Net loss		(36,592)	(35,734)	(64,762)	(73,091)
Net loss attributable to VDI		$ (36,592)	$ (35,734)	$ (64,762)	$ (73,091)
Net loss per share, basic and diluted		$ (7.32)	$ (7.15)	$ (12.95)	$ (14.62)
Weighted average successor ordinary shares outstanding, basic and diluted		5,000	5,000	5,000	5,000
Predecessor
Revenue
Contract drilling services	$ 20,891
Management fees	752
Reimbursables	1,897
Total revenue	23,540
Operating costs and expenses
Operating costs	25,213
General and administrative	2,558
Depreciation	10,696
Total operating costs and expenses	38,467
Loss from operations	(14,927)
Other income (expense)
Interest income	3
Interest expense and other financing charges (contractual interest of $23,219 for the period from January 1, 2016 to February 10, 2016)	(1,728)
Other, net	(69)
Reorganization items	(452,919)
Total other expense	(454,713)
Loss before income taxes	(469,640)
Income tax provision	2,371
Net loss	(472,011)
Net loss attributable to noncontrolling interests	(969)
Net loss attributable to VDI	$ (471,042)

Consolidated Statement of Oper5

Consolidated Statement of Operations (Unaudited) (Parenthetical) $ in Thousands	1 Months Ended
	Feb. 09, 2016USD ($)
Income Statement [Abstract]
Contractual interest	$ 23,219

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	1 Months Ended	5 Months Ended	6 Months Ended
	Feb. 09, 2016	Jun. 30, 2016	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss		$ (64,762)	$ (73,091)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation expense		30,457	36,993
Amortization of debt financing costs		193	234
Amortization of debt discount		18,945	24,401
Amortization of contract value			1,504
PIK interest on the Convertible Notes		2,932	3,780
Share-based compensation expense			1,727
Gain on bargain purchase			(1,910)
Deferred income tax benefit		(1,741)	(3,315)
Loss on disposal of assets		624	191
Changes in operating assets and liabilities:
Trade receivables		46,147	(12,614)
Inventory		(2,129)	815
Prepaid expenses and other current assets		(1,914)	(422)
Other assets		569	5,471
Accounts payable		92	4,135
Accrued liabilities and other long-term liabilities		(29,209)	(3,768)
Net cash (used in) provided by operating activities		204	(15,869)
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property and equipment		(7,982)	(1,203)
Cash paid for Vantage 260 acquisition			(13,000)
Net cash (used in) provided by investing activities		(7,982)	(14,203)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of long-term debt		(715)	(715)
Debt issuance costs		(51)
Net cash (used in) provided by financing activities		(766)	(715)
Net (decrease) increase in cash and cash equivalents		(8,544)	(30,787)
Cash and cash equivalents—beginning of period		249,046	231,727
Cash and cash equivalents—end of period	$ 249,046		200,940
Cash paid for:
Interest		7,436	9,535
Income taxes (net of refunds)		12,481	8,499
Non-cash investing and financing transactions:
Payment of interest in kind on the Convertible Notes		2,911	$ 3,780
Predecessor
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	(472,011)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation expense	10,696
Reorganization items	430,210
Changes in operating assets and liabilities:
Restricted cash	(1,000)
Trade receivables	(3,575)
Inventory	223
Prepaid expenses and other current assets	6,893
Other assets	941
Accounts payable	(14,890)
Accrued liabilities and other long-term liabilities	21,148
Net cash (used in) provided by operating activities	(21,365)
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property and equipment	116
Net cash (used in) provided by investing activities	116
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of long-term debt	(7,000)
Proceeds from issuance of 10% Second Lien Notes	75,000
Debt issuance costs	(1,125)
Net cash (used in) provided by financing activities	66,875
Net (decrease) increase in cash and cash equivalents	45,626
Cash and cash equivalents—beginning of period	203,420	$ 249,046
Cash and cash equivalents—end of period	249,046
Cash paid for:
Interest	1,568
Income taxes (net of refunds)	(1,864)
Non-cash investing and financing transactions:
Additional notes issued for backstop premium	$ 1,125

Consolidated Statement of Cash7

Consolidated Statement of Cash Flows (Parenthetical) (Unaudited)	Feb. 09, 2016
Predecessor
Debt Instrument, interest rate	10.00%

Organization and Recent Events

Organization and Recent Events	6 Months Ended
	Jun. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Recent Events	1. Organization and Recent Events Vantage Drilling International (the “Company” or “VDI”), a Cayman Islands exempted company, is an international offshore drilling company focused on operating a fleet of modern, high specification drilling units. Our principal business is to contract drilling units, related equipment and work crews, primarily on a dayrate basis to drill oil and natural gas wells for our customers. Through our fleet of drilling units, we are a provider of offshore contract drilling services to major, national and independent oil and natural gas companies, focused primarily on international markets. Additionally, for drilling units owned by others, we provide construction supervision services while under construction and preservation management services when stacked. On April 5, 2017, pursuant to a purchase and sale agreement with a third party, we completed the purchase of a class 154-44C jackup rig and related multi-year drilling contract for $13.0 million. A down payment of $1.3 million was made in February 2017 upon execution of the agreement and the remaining $11.7 million was paid at closing. The rig has been renamed the Vantage 260 Sapphire Driller Vantage 260 Restructuring Agreement and Emergence from Voluntary Reorganization under Chapter 11 Proceeding On December 1, 2015, we and Vantage Drilling Company (“VDC”), our former parent company, entered into a restructuring support agreement (the “Restructuring Agreement”) with a majority of our secured creditors. Pursuant to the terms of the Restructuring Agreement, the Company agreed to pursue a pre-packaged plan of reorganization (the “Reorganization Plan”) under Chapter 11 of Title 11 of the United States Bankruptcy Code and VDC agreed to commence official liquidation proceedings under the laws of the Cayman Islands. On December 2, 2015, pursuant to the Restructuring Agreement, the Company acquired two subsidiaries responsible for the management of the Company from VDC in exchange for a $61.5 million promissory note (the “VDC Note”). As this transaction involved a reorganization of entities under common control, it was reflected in the consolidated financial statements, at carryover basis, on a retrospective basis. Effective with the Company’s emergence from bankruptcy on February 10, 2016 (the “Effective Date”), VDC’s former equity interest in the Company was cancelled. Immediately following that event, the VDC Note was converted into 655,094 new ordinary shares of the reorganized Company (the “New Shares”) in accordance with the terms thereof, in satisfaction of the obligation thereunder, which, including accrued interest, totaled approximately $62.6 million as of such date. On December 3, 2015 (the “Petition Date”), the Company, certain of its subsidiaries and certain VDC subsidiaries who were guarantors of the Company’s pre-bankruptcy secured debt, filed the Reorganization Plan in the United States Bankruptcy Court for the District of Delaware ( In re Vantage Drilling International (F/K/A Offshore Group Investment Limited), et al. Pursuant to the terms of the Reorganization Plan, the pre-bankruptcy term loans and senior notes were retired on the Effective Date by issuing to the debtholders 4,344,959 units in the reorganized Company (the “Units”). Each Unit of securities originally consisted of one New Share and $172.61 of principal of the Company’s 1%/12% Step-Up Senior Secured Third Lien Convertible Notes due 2030 (the “Convertible Notes”), subject to adjustment upon the payment of interest in kind (“PIK interest”) and certain cases of redemption or conversion of the Convertible Notes, as well as share splits, share dividends, consolidation or reclassification of the New Shares The Convertible Notes are convertible into New Shares in certain circumstances, at a conversion price (subject to adjustment in accordance with the terms of the Indenture for the Convertible Notes) which was $95.60 as of the issue date. The Indenture for the Convertible Notes includes customary covenants that restrict, among other things, the granting of liens and customary events of default, including among other things, failure to issue securities upon conversion of the Convertible Notes. As of June 30, 2017, taking into account the payment of PIK interest on the Convertible Notes to such date, each such Unit consisted of one New Share and $175.02 of principal of Convertible Notes. Other significant elements of the Reorganization Plan included: Second Amended and Restated Credit Agreement . The Company’s pre-petition credit agreement was amended to (i) replace the $32.0 million revolving letter of credit commitment under its pre-petition facility with a new $32.0 million revolving letter of credit facility and (ii) repay the $150 million of outstanding borrowings with (a) $7.0 million of cash and (b) the issuance of $143.0 million initial term loans (the “2016 Term Loan Facility”). 10% Senior Secured Second Lien Notes . Holders of the Company’s pre-petition term loans and senior notes claims were eligible to participate in a rights offering conducted by the Company for $75.0 million of the Company’s new 10% Senior Secured Second Lien Notes due 2020 (the “10% Second Lien Notes”). In connection with this rights offering, certain creditors entered into a “backstop” agreement to purchase 10% Second Lien Notes if the offer was not fully subscribed. The premium paid to such creditors under the backstop agreement was approximately $2.2 million, which was paid $1.1 million in cash and $1.1 million in additional 10% Second Lien Notes, resulting in a total issued amount of $76.1 million of 10% Second Lien Notes and net cash proceeds to the Company of $73.9 million, after deducting the cash portion of the backstop premium. The Reorganization Plan allowed the Company to continue business operations during the court proceedings and maintain all operating assets and agreements. The Company had adequate liquidity prior to the filing and did not have to seek any debtor-in-possession financing. All trade payables, credits, wages and other related obligations were unimpaired by the Reorganization Plan. Other Events: In July 2015, we became aware that Hamylton Padilha, the Brazilian agent VDC used in the contracting of the drillship to Petroleo Brasileiro S.A. (“Petrobras”), had entered into a plea arrangement with the Brazilian authorities in connection with his role in facilitating the payment of bribes to former Petrobras executives. Among other things, Mr. Padilha provided information to the Brazilian authorities of an alleged bribery scheme between former Petrobras executives and Mr. Hsin-Chi Su, who was, at the time of the alleged bribery scheme, a member of the Board of Directors and a significant shareholder of our former parent company, VDC. When we learned of Mr. Padilha’s plea agreement and the allegations, we voluntarily contacted the U.S. Department of Justice (“DOJ”) and the Securities and Exchange Commission (the “SEC”) to advise them of these developments, as well as the fact that we had engaged outside counsel to conduct an internal investigation of the allegations. Our internal investigation is ongoing and we are cooperating with the DOJ and SEC in their investigation of these allegations. In connection with our cooperation with the DOJ and SEC, we advised both agencies that in early 2010, we engaged outside counsel to investigate a report of allegations of improper payments to customs and immigration officials in Asia. That investigation was concluded in 2011, and we determined at that time that no disclosure was warranted; however, in an abundance of caution, we provided the results of this investigation to the DOJ and SEC in light of the allegations in the Petrobras matter. Although we cannot predict the outcome of the DOJ and SEC matter, if the DOJ or the SEC determine that violations of the U.S. Foreign Corrupt Practices Act (“FCPA”) have occurred, the Company could be subject to civil and criminal sanctions, including monetary penalties, as well as additional requirements or changes to our business practices and compliance programs, any or all of which could have a material adverse effect on our business and financial condition. Additionally, if we become subject to any judgment, decree, order, governmental penalty or fine, this may constitute an event of default under the terms of our secured debt agreements and, following notice from the requisite lenders and/or noteholders, as applicable, result in our outstanding debt under the 2016 Term Loan Facility and 10% Second Lien Notes becoming immediately due and payable at par, and our outstanding debt under Convertible Notes becoming immediately due and payable at the make-whole amount specified in the indenture governing the Convertible Notes.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	2. Basis of Presentation and Significant Accounting Policies Basis of Consolidation: The accompanying interim consolidated financial information as of June 30, 2017, for the three and six months ended June 30, 2017, for the three months ended June 30, 2016, for the period from February 10, 2016 to June 30, 2016 and for the period from January 1, 2016 to February 10, 2016 has been prepared without audit, pursuant to the rules and regulations of the SEC and includes our accounts and those of our majority owned subsidiaries and variable interest entities (“VIEs”) discussed below. All significant intercompany transactions and accounts have been eliminated. They reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations for the interim periods, on a basis consistent with the annual audited financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the SEC, although we believe that the disclosures made are adequate to provide for fair presentation. The consolidated balance sheet at December 31, 2016 is derived from our December 31, 2016 audited financial statements. These interim financial statements should be read in conjunction with the financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2016. The results of operations for the interim periods are not necessarily indicative of the operating results for the full fiscal year or any future periods. Certain previously reported amounts have been reclassified to conform to the current period presentation. In connection with our bankruptcy filing, we were subject to the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 852 Reorganizations Certain pre-petition liabilities subject to Chapter 11 proceedings were considered as Liabilities Subject To Compromise (“LSTC”) on the Petition Date and just prior to our emergence from bankruptcy on the Effective Date. The LSTC classification distinguished such liabilities from the liabilities that were not expected to be compromised and liabilities incurred post-petition. ASC 852 requires that subsequent to the Petition Date, expenses, realized gains and losses and provisions for losses that can be directly associated with the reorganization of the business be reported separately as reorganization items in the consolidated statements of operations. We were required to distinguish pre-petition liabilities subject to compromise from those that are not and post-petition liabilities in our balance sheet. Liabilities that were subject to compromise were reported at the amounts expected to be allowed by the Bankruptcy Court, even if they were settled for lesser amounts as a result of the Reorganization Plan. Upon emergence from bankruptcy on the Effective Date, we adopted fresh-start accounting in accordance with ASC 852, which resulted in the Company becoming a new entity for financial reporting purposes. Upon adoption of fresh-start accounting, our assets and liabilities were recorded at their fair values as of the Effective Date. The Effective Date fair values of our assets and liabilities differed materially from the recorded values of our assets and liabilities as reflected in our historical consolidated balance sheets. The effects of the Reorganization Plan and the application of fresh-start accounting were reflected in our consolidated financial statements as of February 10, 2016 and the related adjustments thereto were recorded in our consolidated statements of operations as reorganization items for the period January 1, 2016 to February 10, 2016. As a result, our consolidated balance sheets and consolidated statement of operations subsequent to the Effective Date will not be comparable to our consolidated balance sheets and statements of operations prior to the Effective Date. Our consolidated financial statements and related notes are presented with a black line division which delineates the lack of comparability between amounts presented on or after February 10, 2016 and dates prior. Our financial results for future periods following the application of fresh-start accounting will be different from historical trends and the differences may be material. References to “Successor” relate to the Company on and subsequent to the Effective Date. References to “Predecessor” refer to the Company prior to the Effective Date. The consolidated financial statements of the Successor have been prepared assuming that the Company will continue as a going concern and contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. In addition to the consolidation of our majority owned subsidiaries, we also consolidate VIEs when we are determined to be the primary beneficiary of a VIE. Determination of the primary beneficiary of a VIE is based on whether an entity has (1) the power to direct activities that most significantly impact the economic performance of the VIE and (2) the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Our determination of the primary beneficiary of a VIE considers all relationships between us and the VIE. Certain subsidiaries of VDC, who were guarantors of our pre-petition debt and part of the Reorganization Plan, became our subsidiaries upon emergence from bankruptcy on the Effective Date. We consolidated these entities in our Predecessor consolidated financial statements because we determined that they were VIEs and that we were the primary beneficiary. The following table summarizes the net effect of consolidating these entities on our Predecessor consolidated statement of operations. Predecessor Period from January 1, 2016 to February 10, 2016 (unaudited, in thousands) Revenue $ 1,219 Operating costs and expenses 1,240 Income before taxes 22 Income tax provision 991 Net income (loss) attributable to noncontrolling interests (969 ) Cash and Cash Equivalents: Includes deposits with financial institutions as well as short-term money market instruments with maturities of three months or less when purchased. Inventory: Consists of materials, consumables, spare parts and related supplies for our drilling rigs and is carried at the lower of average cost or market. Property and Equipment: Consists of the costs of our drilling rigs, furniture and fixtures, computer equipment and capitalized costs for computer software. Drilling rigs are depreciated on a component basis over estimated useful lives ranging from five to thirty-five years on a straight-line basis as of the date placed in service. Other assets are depreciated upon placement in service over estimated useful lives ranging from three to seven years on a straight-line basis. When assets are sold, retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and a gain or loss is recognized. We evaluate the realization of property and equipment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment loss on our property and equipment exists when estimated undiscounted cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. Any impairment loss recognized would represent the excess of the asset’s carrying value over the estimated fair value. In connection with our adoption of fresh-start accounting upon our emergence from bankruptcy on February 10, 2016, an adjustment of $2.0 billion was recorded to decrease the net book value of our drilling rigs to estimated fair value. As of June 30, 2017, no triggering event has occurred to indicate that the current carrying value of our drilling rigs may not be recoverable. Interest costs and the amortization of debt financing costs related to the financings of our drilling rigs are capitalized as part of the cost while they are under construction and prior to the commencement of each vessel’s first contract. We did not capitalize any interest for the reported periods. Intangible assets: In connection with our acquisition of the and related multi-year drilling contract, the Company recorded an identifiable intangible asset of $12.6 million for the fair value of the acquired favorable drilling contract. The resulting intangible asset is being amortized on a straight-line basis over the term of the drilling contract. Amortization expense for intangible assets was $1.5 million for the three and six months ended June 30, 2017. Expected future intangible asset amortization as of June 30, 2017 is as follows: (in thousands) Fiscal year: Remaining 2017 $ 3,182 2018 6,311 2019 1,643 Thereafter - Total $ 11,136 Debt Financing Costs: Costs incurred with debt financings are deferred and amortized over the term of the related financing facility on a straight-line basis which approximates the interest method. Debt issuance costs related to a recognized debt liability are presented in the consolidated balance sheet as a direct deduction from the carrying amount of that debt liability. Revenue: Revenue is recognized as services are performed based on contracted dayrates and the number of operating days during the period. In connection with a customer contract, we may receive lump-sum fees for the mobilization of equipment and personnel or the demobilization of equipment and personnel upon completion. Mobilization fees received and costs incurred to mobilize a rig from one geographic market to another are deferred and recognized on a straight-line basis over the term of such contract, excluding any option periods. Costs incurred to mobilize a rig without a contract are expensed as incurred. Fees or lump-sum payments received for capital improvements to rigs are deferred and amortized to income over the term of the related drilling contract. The costs of such capital improvements are capitalized and depreciated over the useful lives of the assets. Upon completion of drilling contracts, any demobilization fees received are recorded as revenue. We record reimbursements from customers for rebillable costs and expenses as revenue and the related direct costs as operating expenses. Rig and Equipment Certifications: We are required to obtain regulatory certifications to operate our drilling rigs and certain specified equipment and must maintain such certifications through periodic inspections and surveys. The costs associated with these certifications, including drydock costs, are deferred and amortized over the corresponding certification periods. Income Taxes: Income taxes are provided for based upon the tax laws and rates in effect in the countries in which operations are conducted and income is earned. Deferred income tax assets and liabilities are computed for differences between the financial statement basis and tax basis of assets and liabilities that will result in future taxable or deductible amounts and are based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount expected to be realized. We recognize interest and penalties related to income taxes as a component of income tax expense. Concentrations of Credit Risk: Financial instruments that potentially subject us to a significant concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable. We maintain deposits in federally insured financial institutions in excess of federally insured limits. We monitor the credit ratings and our concentration of risk with these financial institutions on a continuing basis to safeguard our cash deposits. We have a limited number of key customers, who are primarily large international oil and gas operators, national oil companies and other international oil and gas companies. Our contracts provide for monthly billings as services are performed and we monitor compliance with contract payment terms on an ongoing basis. Outstanding receivables beyond payment terms are promptly investigated and discussed with the specific customer. We do not have an allowance for doubtful accounts on our trade receivables as of June 30, 2017 or December 31, 2016. Use of Estimates: The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to property and equipment, income taxes, insurance, employee benefits and contingent liabilities. Actual results could differ from these estimates. Fair Value of Financial Instruments: The fair value of our short-term financial assets and liabilities approximates the carrying amounts represented in the consolidated balance sheet principally due to the short-term nature or floating rate nature of these instruments. At June 30, 2017, the fair value of the 2016 Term Loan Facility, the 10% Second Lien Notes and the Convertible Notes was approximately $140.2 million, $73.0 million and $738.6 million, respectively, based on quoted market prices in a less active market, a Level 2 measurement. Recent Accounting Standards: In May 2014, the FASB issued ASU No. 2014-09, . ASU No. 2014-09 supersedes most of the existing revenue recognition requirements in U.S. GAAP, including industry-specific guidance. The ASU is based on the principle that revenue is recognized when an entity transfers promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard also requires significant additional disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU No. 2014-09 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years, using either a full or a modified retrospective application approach. We plan on adopting the new standard effective January 1, 2018 concurrently with ASU No. 2016-02, Leases (ASC 842) as discussed below. We are evaluating the impact ASU No. 2014-09 will have on our consolidated financial statements and to complete that evaluation, we have completed training on the ASU and have begun contract review and documentation. As part of our assessment, we are liaising with the contract drilling industry association on developing an industry-wide position. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities No. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842): Amendments to the FASB Accounting Standards Codification and to complete that evaluation, we have completed training on the ASU and have started the review and documentation of contracts In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326). In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments, ASU No. 2016-15 is effective for fiscal years beginning after December 15, 2017 utilizing a retrospective transition approach. Early adoption is permitted, provided that all amendments are adopted in the same period. We have not completed an evaluation of ASU 2016-15 and have not yet determined the impact, if any, on our financial statements and related disclosures. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business No.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Acquisitions	3. Acquisitions On April 5, 2017, pursuant to a purchase and sale agreement with a third party, we completed the purchase of a class 154-44C jackup rig and related multi-year drilling contract for $13.0 million. A down payment of $1.3 million was made in February 2017 upon execution of the agreement and the remaining $11.7 million was paid at closing. The rig has been renamed the Vantage 260 Sapphire Driller Vantage 260 (in thousands) Total cash consideration $ 13,000 Purchase price allocation: Drilling contract value 12,640 Rig equipment to be sold (net of disposal costs) 2,050 Drillpipe assets 700 Severance liabilities assumed (480 ) Net assets acquired 14,910 Bargain purchase gain $ 1,910 Under accounting guidance, a bargain purchase gain results from an acquisition if the fair value of the purchase consideration paid in connection with such acquisition is less than the net fair value of the assets acquired and liabilities assumed. We recorded a bargain purchase gain of approximately $1.9 million related to the acquisition in the three months ending June 30, 2017. We believe that we were able to negotiate a bargain purchase price as a result of our operational presence in West Africa and the seller’s liquidation. Pro forma results of operations related to the acquisition have not been presented because they are not material to our consolidated statement of operations.

Reorganization Items

Reorganization Items	6 Months Ended
	Jun. 30, 2017
Reorganization Items [Abstract]
Reorganization Items	4. Reorganization Items Reorganization items represent amounts incurred subsequent to the Petition Date as a direct result of the filing of the Reorganization Plan and are comprised of the following: Successor Predecessor Three Months Ended June 30, Six Months Ended June 30, 2017 Period from February 10, 2016 to June 30, 2016 Period from January 1, 2016 to February 10, 2016 2017 2016 (unaudited, in thousands) Professional fees $ — $ 487 $ — $ 641 $ 22,712 Net gain on settlement of LSTC — — — — (1,630,025 ) Fresh-start adjustments — — — — 2,060,232 $ — $ 487 $ — $ 641 $ 452,919 For the six months ended June 30, 2017, and for the periods from February 10, 2016 to June 30, 2016 and from January 1, 2016 to February 10, 2016, cash payments for reorganization items totaled

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt	5. Debt Our debt was composed of the following: June 30, 2017 December 31, 2016 (unaudited, in thousands) 2016 Term Loan Facility $ 140,855 $ 141,570 10% Second Lien Notes, net of financing costs of $1,638 and $1,873 74,487 74,252 Convertible Notes, net of discount of $79,294 and $103,695 681,161 652,980 896,503 868,802 Less current maturities of long-term debt 4,430 1,430 Long-term debt, net $ 892,073 $ 867,372 Second Amended and Restated Credit Agreement. The Company entered into the 2016 Term Loan Facility providing for (i) a $32.0 million revolving letter of credit facility to replace the Company’s existing $32.0 million revolving letter of credit commitment under its pre-petition credit facility and (ii) $143.0 million of term loans into which the claims of the lenders under the Company’s pre-petition credit facility were converted. The lenders under the Company’s pre-petition credit facility also received $7.0 million of cash under the Reorganization Plan. The obligations under the 2016 Term Loan Facility are guaranteed by substantially all of the Company’s subsidiaries, subject to limited exceptions, and secured on a first priority basis by substantially all of the Company’s and the guarantors’ assets, including ship mortgages on all vessels, assignments of related earnings and insurance and pledges of the capital stock of all guarantors, in each case, subject to certain exceptions. We have issued $19.5 million in letters of credit as of June 30, 2017. The maturity date of the term loans and commitments established under the 2016 Term Loan Facility is December 31, 2019. Interest is payable on the unpaid principal amount of each term loan under the 2016 Term Loan Facility at LIBOR plus 6.5%, with a LIBOR floor of 0.5%. The initial term loans are currently bearing interest at 7.7%. The 2016 Term Loan Facility has quarterly scheduled debt maturities of $357,500 which commenced in March 2016. Fees are payable on the outstanding face amount of letters of credit at a rate per annum equal to 5.5% pursuant to the terms of the 2016 Term Loan Facility. The 2016 Term Loan Facility includes customary representations and warranties, mandatory prepayments, affirmative and negative covenants and events of default, including covenants that, among other things, restrict the granting of liens, the incurrence of indebtedness, the making of investments and capital expenditures, the sale or other conveyance of assets, including vessels, transactions with affiliates, prepayments of certain debt and the operation of vessels. The 2016 Term Loan Facility also requires that the Company maintain $75.0 million of available cash (defined to include unrestricted cash and cash equivalents plus undrawn commitments). 10% Senior Secured Second Lien Notes. The Company engaged in a rights offering for $75.0 million of new 10% Second Lien Notes for certain holders of its secured debt claims. In connection with this rights offering, certain creditors entered into a “backstop” agreement to purchase 10% Second Lien Notes if the offer was not fully subscribed. The premium paid to such creditors under the backstop agreement was approximately $2.2 million, which was paid $1.1 million in cash and $1.1 million in additional 10% Second Lien Notes, resulting in a total issued amount of $76.1 million of 10% Second Lien Notes, and in net cash proceeds of approximately $73.9 million after deducting the cash portion of the backstop premium. The 10% Second Lien Notes were issued at par and are fully and unconditionally guaranteed (except for customary release provisions), on a senior secured basis, by all of the subsidiaries of the Company. The 10% Second Lien Notes mature on December 31, 2020, and bear interest from the date of their issuance at the rate of 10% per year. Interest on outstanding 10% Second Lien Notes is payable semi-annually in arrears, which commenced on June 30, 2016. Interest is computed on the basis of a 360-day year comprised of twelve 30-day months. The 10% Second Lien Notes rank behind the 2016 Term Loan Facility as to collateral. The Indenture for the 10% Second Lien Notes includes customary covenants and events of default, including covenants that, among other things, restrict the granting of liens, restrict the making of investments, restrict the incurrence of indebtedness and the conveyance of vessels, limit transactions with affiliates, and require that the Company provide periodic financial reports. 1%/12% Step-Up Senior Secured Third Lien Convertible Notes. The Company issued 4,344,959 New Shares and $750.0 million of the Convertible Notes to certain creditors holding approximately $2.5 billion of pre-petition secured debt claims. The New Shares issued to the creditors and the Convertible Notes may only be traded together and not separately. The Convertible Notes mature on December 31, 2030 and are convertible into New Shares, in certain circumstances, at a conversion price (subject to adjustment in accordance with the terms of the Indenture for the Convertible Notes) which was $95.60 as of the issue date. The Indenture for the Convertible Notes includes customary covenants that restrict, among other things, the granting of liens and customary events of default, including among other things, failure to issue securities upon conversion of the Convertible Notes. As of June 30, 2017, taking into account the payment of PIK interest on the Convertible Notes to such date, each such unit of securities was comprised of one New Share and $175.02 of principal of Convertible Notes. As of June 30, 2017, we would be required to issue approximately 8.0 million New Shares if the Convertible Notes were converted. In connection with the adoption of fresh-start accounting, the Convertible Notes were recorded at an estimated fair value of approximately $603.1 million. The difference between face value and the fair value at date of issuance of the Convertible Notes was recorded as a debt discount and is being amortized to interest expense over the expected life of the Convertible Notes using the effective interest rate method. Interest on the Convertible Notes is payable semi-annually in arrears commencing June 30, 2016 as a payment in kind, either through an increase in the outstanding principal amount of the Convertible Notes or, if the Company is unable to increase such principal amount, by the issuance of additional Convertible Notes. Interest is computed on the basis of a 360-day year comprised of twelve 30-day months at a rate of 1% per annum for the first four years and then increasing to 12% per annum until maturity. The Company’s obligations under the Convertible Notes are fully and unconditionally guaranteed (except for customary release provisions), on a senior secured basis, by all of the subsidiaries of the Company, and the obligations of the Company and guarantors are secured by liens on substantially all of their respective assets. The guarantees by the Company’s subsidiaries of the Convertible Notes are joint and several. The Company has no independent assets or operations apart from the assets and operations of its wholly-owned subsidiaries. In addition, there are no significant restrictions on the Company’s or any subsidiary guarantor’s ability to obtain funds from its subsidiaries by dividend or loan. The Indenture for the Convertible Notes includes customary covenants that restrict the granting of liens and customary events of default, including, among other things, failure to issue securities upon conversion of the Convertible Notes. In addition, the Indenture, and the applicable Collateral Agreements, provide that any capital stock and other securities of any of the guarantors will be excluded from the collateral to the extent the pledge of such capital stock or other securities to secure the Convertible Notes would cause such guarantor to be required to file separate financial statements with the SEC pursuant to Rule 3-16 of Regulation S-X (as in effect from time to time). The Convertible Notes will convert only (a) prior to the third anniversary of the issue date (February 10, 2016), (i) upon the instruction of holders of a majority in principal amount of the Convertible Notes or (ii) upon the full and final resolution of all potential Investigation Claims (as defined below), as determined in good faith by the board of directors of the Company (the “Board”) (which determination shall require the affirmative vote of a supermajority of the non-management directors), and (b) from and after February 10, 2019 through their maturity date of December 31, 2030, upon the approval of the Board (which approval shall require the affirmative vote of a supermajority of the non-management directors). For these purposes, (i) “supermajority of the non-management directors” means five affirmative votes of non-management directors assuming six non-management directors eligible to vote and, in all other circumstances, the affirmative vote of at least 75% of the non-management directors eligible to vote and (ii) “Investigation Claim” means any claim held by a United States or Brazilian governmental unit and arising from or related to the procurement of that certain Agreement for the Provision of Drilling Services, dated as of February 4, 2009, by and between Petrobras Venezuela Investments & Services B.V. and Vantage Deepwater Company, as amended, modified, supplemented, or novated from time to time. In the event of a change in control, the holders of our Convertible Notes have the right to require us to repurchase all or any part of the Convertible Notes at a price equal to 101% of their principal amount. We assessed the prepayment requirements and concluded that this feature met the criteria to be considered an embedded derivative and must be bifurcated and separately valued at fair value due to the discount on the Convertible Notes at issuance. We considered the probabilities of a change of control occurring and determined that the derivative had a de minimis value at February 10, 2016 and December 31, 2016, respectively. Upon the occurrence of specified change of control events or certain losses of our vessels in the agreements governing our 10% Second Lien Notes, Convertible Notes or 2016 Term Loan Facility, we will be required to offer to repurchase or repay all (or in the case of events of losses of vessels, an amount up to the amount of proceeds received from such event of loss) of such outstanding debt under such debt agreements at the prices and upon the terms set forth in the applicable agreements. In addition, in connection with certain asset sales, we will be required to offer to repurchase or repay such outstanding debt as set forth in the applicable debt agreements. In addition, in connection with their investigation, if the DOJ or the SEC determine that violations of the FCPA have occurred, the Company could be subject to civil and criminal sanctions, including monetary penalties, and if we become subject to any judgment, decree, order, governmental penalty or fine, this may constitute an event of default under the terms of our secured debt agreements and , following notice from the requisite lenders and/or noteholders, as applicable, result in our outstanding debt under the 2016 Term Loan Facility and 10% Second Lien Notes becoming immediately due and payable at par, and our outstanding debt under Convertible Notes becoming immediately due and payable at the make-whole amount specified in the indenture governing the Convertible Notes.

Shareholder's Equity

Shareholder's Equity	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Shareholder's Equity	6. Shareholders’ Equity We have 50,000,000 authorized ordinary shares, par value $0.001 per share. Upon emergence from bankruptcy, we issued 5,000,053 ordinary shares in connection with the settlement of LSTC and the VDC Note. As of June 30, 2017, 5,000,053 ordinary shares were issued and outstanding. On August 9, 2016, the Company adopted the Amended and Restated 2016 Management Incentive Plan (the “2016 Amended MIP”) to align the interests of participants with those of the shareholders by providing incentive compensation opportunities tied to the performance of the Company’s equity securities. Pursuant to the 2016 Amended MIP, the Compensation Committee may grant to employees, directors and consultants stock options, restricted stock, restricted stock units or other awards. During the six months ended June 30, 2017, we granted to employees 29,008 time-based restricted stock units (“TBGs”) and 67,685 performance-based restricted stock units (“PBGs”) under our 2016 Amended MIP. In March 2017, four directors were granted 415 TBGs each, or a total of 1,660 TBGs. The TBGs vest annually, ratably over four years; however, accelerated vesting is provided for in the event of a qualified liquidity event as defined in the 2016 Amended MIP (a “QLE”). Otherwise, the settlement of any vested TBGs occurs upon the seventh anniversary of the Effective Date. The PBGs contain vesting eligibility provisions tied to the earlier of a QLE or seven years from the Effective Date. Upon the occurrence of a vesting eligibility event, the number of PBGs that actually vest will be dependent on the achievement of pre-determined Total Enterprise Value (“TEV”) targets specified in the grants. Both the TBGs and PBGs are classified as liabilities consistent with the classification of the underlying securities and under the provisions of ASC 718 Compensation – Stock Compensation Share based compensation expense for PBGs will be recognized when it is probable that the TEV targets will be met. Once it is probable the performance condition will be met, compensation expense based on the fair value of the PBGs at the balance sheet date will be recognized for the service period completed. For the quarter ended June 30, 2017, we concluded that it was not probable that the TEV performance condition would be met and therefore, no share based compensation expense was recognized for PBGs.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes We are a Cayman Islands entity. The Cayman Islands does not impose corporate income taxes. Consequently, we have calculated income taxes based on the laws and tax rates in effect in the countries in which operations are conducted, or in which we and our subsidiaries are considered resident for income tax purposes. We operate in multiple countries under different legal forms. As a result, we are subject to the jurisdiction of numerous domestic and foreign tax authorities, as well as to tax agreements and treaties among these governments. Tax rates vary between jurisdictions, as does the tax base to which the rates are applied. Taxes may be levied based on net profit before taxes or gross revenues. Determination of taxable income in any jurisdiction requires the interpretation of the related tax laws and regulations and the use of estimates and assumptions regarding significant future events, such as the amount, timing and character of deductions, permissible revenue recognition methods under the tax law and the sources and character of income and tax credits. Our income tax expense may vary substantially from one period to another as a result of changes in tax laws, regulations, agreements and treaties, foreign currency exchange restrictions, rig movements or our level of operations or profitability in each tax jurisdiction. Furthermore, our income taxes are generally dependent upon the results of our operations and, when we generate significant revenues in jurisdictions where the income tax liability is based on gross revenues or asset values, there is no correlation between our operating results and the income tax expense. Furthermore, in some jurisdictions we do not pay taxes or receive benefits for certain income and expense items, including interest expense, loss on extinguishment of debt and write-off of development costs. Deferred income tax assets and liabilities are recorded for the expected future tax consequences of events that have been recognized in our financial statements or tax returns. We provide for deferred taxes on temporary differences between the financial statements and tax bases of assets and liabilities using the enacted tax rates, which are expected to apply to taxable income when the temporary differences are expected to reverse. Deferred tax assets are also provided for certain tax credit carryforwards. A valuation allowance is established to reduce deferred tax assets when it is more likely than not that some portion or all of the deferred tax asset will not be realized. In certain jurisdictions, we are taxed under preferential tax regimes, which may require our compliance with specified requirements to sustain the tax benefits. We believe we are in compliance with the specified requirements and will continue to make all reasonable efforts to comply; however, our ability to meet the requirements of the preferential tax regimes may be affected by changes in laws, our business operations and other factors affecting our company and industry, many of which are beyond our control. Our periodic tax returns are subject to examination by taxing authorities in the jurisdictions in which we operate in accordance with the normal statute of limitations in the applicable jurisdiction. These examinations may result in assessments of additional taxes that are resolved with the authorities or through the courts. Resolution of these matters involves uncertainties and there are no assurances as to the outcome. Our tax years 2010 and forward remain open to examination in many of our jurisdictions and we are currently involved in several tax examinations in jurisdictions where we are operating or have previously operated. As information becomes available during the course of these examinations, we may increase or decrease our estimates of tax assessments and accruals.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies We are subject to litigation, claims and disputes in the ordinary course of business, some of which may not be covered by insurance. There is an inherent risk in any litigation or dispute and no assurance can be given as to the outcome of any claims. In July 2015, we became aware of media reports that Hamylton Padilha, the Brazilian agent VDC used in the contracting of the Titanium Explorer drillship to Petrobras, had entered into a plea arrangement with the Brazilian authorities in connection with his role in facilitating the payment of bribes to former Petrobras executives. Among other things, Mr. Padilha provided information to the Brazilian authorities of an alleged bribery scheme between former Petrobras executives and Nobu Su, who was, at the time of the alleged bribery scheme, a member of the Board of Directors and a significant shareholder of our former parent company, VDC. When we learned of Mr. Padilha’s plea agreement and the allegations, we voluntarily contacted the DOJ and the SEC to advise them of these developments, as well as the fact that we had engaged outside counsel to conduct an internal investigation of the allegations. Our internal investigation is ongoing and we are cooperating with the DOJ and SEC in their investigation of these allegations. In connection with our cooperation with the DOJ and SEC, we advised both agencies that in early 2010, we engaged outside counsel to investigate a report of allegation of improper payments to customs and immigration officials in Asia. That investigation was concluded in 2011, and we determined at that time that no disclosure was warranted; however, in an abundance of caution, we provided the results of this investigation to the DOJ and SEC in light of the allegations in the Petrobras matter. Although we cannot predict the outcome of the DOJ and SEC matter, if the DOJ or the SEC determine that violations of the FCPA have occurred, the Company could be subject to civil and criminal sanctions, including monetary penalties, as well as additional requirements or changes to our business practices and compliance programs, any or all of which could have a material adverse effect on our business and financial condition. Additionally, if we become subject to any judgment, decree, order, governmental penalty or fine, this may constitute an event of default under the terms of our secured debt agreements and, following notice from the requisite lenders and/or noteholders, as applicable, result in our outstanding debt under the 2016 Term Loan Facility and 10% Second Lien Notes becoming immediately due and payable In connection with our bankruptcy cases, two appeals were filed relating to the confirmation of the Reorganization Plan. Specifically, on January 29, 2016, Hsin Chi Su and F3 Capital filed two appeals before the United States District Court for the District of Delaware seeking a reversal of (i) the Court’s determination that Hsin Chi Su and F3 Capital did not have standing to appear and be heard in the bankruptcy cases, which was made on the record at a hearing held on January 14, 2016, and (ii) the Court’s Findings of Fact, Conclusions of Law, and Order (I) Approving the Debtors’ (A) Disclosure Statement Pursuant to Sections 1125 and 1126(b) of the Bankruptcy Code, (B) Solicitation of Votes and Voting Procedures, and (C) Forms of Ballots, and (II) Confirming the Amended Joint Prepackaged Chapter 11 Plan of Offshore Group Investment Limited and its Affiliated Debtors [Docket No. 188], which was entered on January 15, 2016. The appeals were consolidated on June 14, 2016. We cannot predict with certainty the ultimate outcome of any such appeals. An adverse outcome could negatively affect our business, results of operations and financial condition. On August 31, 2015, VDC received notice from Petrobras America, Inc. (“PAI”) and Petrobras Venezuela Investments & Services B.V. (“PVIS”) stating that PAI and PVIS were terminating the Agreement for the Provision of Drilling Services dated February 4, 2009 (the “Drilling Contract”). The Drilling Contract was initially entered into between PVIS and Vantage Deepwater Company, one of our wholly-owned indirect subsidiaries, and was later novated by PVIS to PAI and by Vantage Deepwater Company to Vantage Deepwater Drilling, Inc., another of our wholly-owned indirect subsidiaries. The notice stated that PAI and PVIS were terminating the Drilling Contract because Vantage had allegedly breached its obligations under the agreement. Under the terms of the Drilling Contract we initiated arbitration proceedings before the American Arbitration Association on August 31, 2015, challenging PVIS and PAI’s wrongful attempt to terminate the Drilling Contract. Vantage has maintained that it complied with all of its obligations under the Drilling Contract and that PVIS and PAI’s attempt to terminate the agreement is both improper and a breach of the Drilling Contract. In the ongoing arbitration proceeding, the hearing on the merits has concluded and the parties have exchanged post-hearing briefs. Vantage has asserted claims against PAI and PVIS for declaratory relief and monetary damages based on breach of contract. Vantage has also asserted a claim against Petroleo Brasileiro S.A. (“PBP”) to enforce a guaranty provided by PBP. The Petrobras entities (PVIS, PAI and PBP) have asserted that the Drilling Contract is void as illegally procured, that PVIS and PBP are not proper parties to the arbitration, and that PAI and PVIS properly terminated the contract. PAI has further counterclaimed for attorneys’ fees and costs alleging that Vantage failed to negotiate in good faith before commencing arbitration proceedings and is seeking disgorgement damages of approximately $102 million. We are vigorously pursuing our claims in the arbitration and deny that any of the claims or defenses asserted by the Petrobras entities have merit. Pursuant to the terms of the Restructuring Agreement, the Company agreed to the Reorganization Plan and VDC agreed to commence official liquidation proceedings under the laws of the Cayman Islands. On December 2, 2015, pursuant to the Restructuring Agreement, the Company acquired two subsidiaries responsible for the management of the Company from VDC in exchange for the VDC Note. In connection with our separation from our former parent company, we and the Joint Official Liquidators, appointed to oversee the liquidation of VDC, are in discussions regarding the settlement of certain intercompany receivables and payables as between the Company and its subsidiaries, on the one hand, and VDC and its subsidiaries on the other. While we continue to believe that our position regarding the settlement of such amounts is correct, we cannot predict the ultimate outcome of this matter should legal proceedings between the parties transpire.

Supplemental Financial Informat

Supplemental Financial Information	6 Months Ended
	Jun. 30, 2017
Balance Sheet Related Disclosures [Abstract]
Supplemental Financial Information	9. Supplemental Financial Information Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: June 30, 2017 December 31, 2016 (unaudited, in thousands) Prepaid insurance $ 1,061 $ 782 Sales tax receivable 7,176 7,129 Income tax receivable 965 1,025 Other receivables 235 74 Assets held for sale 2,050 — Other 3,408 3,413 $ 14,895 $ 12,423 Property and Equipment, net Property and equipment, net, consisted of the following: June 30, 2017 December 31, 2016 (unaudited, in thousands) Drilling equipment $ 881,637 $ 880,267 Assets under construction 2,291 2,138 Office and technology equipment 18,832 18,764 Leasehold improvements 1,164 1,072 903,924 902,241 Accumulated depreciation (104,677 ) (67,713 ) Property and equipment, net $ 799,247 $ 834,528 Other Assets Other assets consisted of the following: June 30, 2017 December 31, 2016 Contract value $ 11,136 $ — Performance bond collateral — 3,197 Deferred certification costs 4,355 4,885 Deferred mobilization costs 2,645 4,194 Deferred income taxes 5,203 2,237 Deposits 986 1,181 $ 24,325 $ 15,694 Accrued Liabilities Accrued liabilities consisted of the following: June 30, 2017 December 31, 2016 (unaudited, in thousands) Interest $ 75 $ 104 Compensation 11,640 11,289 Income taxes payable 5,428 5,008 Other 2,134 2,047 $ 19,277 $ 18,448 Transactions with Former Parent Company The Company's Consolidated Statement of Operations included the following transactions with VDC for the periods indicated: Successor Predecessor Three Months Ended June 30, Six Months Ended June 30, 2017 Period from February 10, 2016 to June 30, 2016 Period from January 1, 2016 to February 10, 2016 2017 2016 (unaudited, in thousands) Interest income $ — $ 7 $ — $ 11 $ 3 Interest expense — — — — (662 ) $ — $ 7 $ — $ 11 $ (659 ) The following table summarizes the balances payable to VDC included in the Company's Consolidated Balance Sheet as of the periods indicated: June 30, 2017 December 31, 2016 (unaudited, in thousands) Accounts payable to related parties, net $ 17,278 $ 17,278 $ 17,278 $ 17,278

Business Segment and Significan

Business Segment and Significant Customer Information	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Business Segment and Significant Customer Information	10. Business Segment and Significant Customer Information We aggregate our contract drilling operations into one reportable segment even though we provide contract drilling services with different types of rigs, including jackup rigs and drillships, and in different geographic regions. Our operations are dependent on the global oil and gas industry and our rigs are relocated based on demand for our services and customer requirements. Our customers consist primarily of large international oil and gas companies, national or government-controlled oil and gas companies and other international exploration and production companies. Additionally, for drilling units owned by others, we provide construction supervision services while under construction and preservation management services when stacked. In September 2013, we signed an agreement to supervise and manage the construction of two ultra-deepwater drillships for a third party. In January 2017, we signed an agreement to manage the preservation of two ultra-deepwater drillships for a third party. Our management business represented approximately 0.8%, 0.9%, 3.5%, 3.4% , 3.2%, of our total revenue for the three and six months ended June 30, 2017, for the three months ended June 30, 2016, for the period from February 10, 2016 to June 30, 2016 and for the period from January 1, 2016 to February 10, 2016, respectively. For the three and six months ended June 30, 2017 and 2016, all of our revenue was from countries outside of the United States. Consequently, we are exposed to the risk of changes in economic, political and social conditions inherent in foreign operations. Four customers accounted for approximately 50%, 18%, 12% and 11% of consolidated revenue for the three months ended June 30, 2017. For the six months ended June 30, 2017, three customers accounted for approximately 56%, 15% and 12% of consolidated revenue. For the three months ended June 30, 2016, three customers accounted for approximately 52%, 19%, and 19% of consolidated revenue. Three customers accounted for approximately 50%, 19% and 18% of consolidated revenue for the period from February 10, 2016 to June 30, 2016. Three customers accounted for approximately 47%, 20% and 17% of consolidated revenue for the period from January 1, 2016 to February 10, 2016. Our revenue by country was as follows: Successor Predecessor Three Months Ended June 30, Six Months Ended June 30, 2017 Period from February 10, 2016 to June 30, 2016 Period from January 1, 2016 to February 10, 2016 2017 2016 (unaudited, in thousands) Congo $ 35,811 $ 25,421 $ 62,687 $ 39,280 $ 13,769 Malaysia 6,581 9,023 14,504 14,959 3,319 Indonesia — 9,165 — 14,401 4,214 Qatar 5,909 — 11,693 — — Other countries (a) 4,962 4,902 6,428 9,657 2,238 Total revenues $ 53,263 $ 48,511 $ 95,312 $ 78,297 $ 23,540 (a) Other countries represent countries in which we operate that individually had operating revenues representing less than 10% of total revenues earned. Our property and equipment, net by country was as follows: June 30, 2017 December 31, 2016 (unaudited, in thousands) Congo $ 267,093 $ 277,305 Malaysia 269,647 280,689 South Africa 188,629 196,473 Other countries (a) 73,878 80,061 Total property and equipment $ 799,247 $ 834,528 (a) Other countries represent countries in which we individually had property and equipment, net, representing less than 10% of total property and equipment, net. A substantial portion of our assets are mobile drilling units. Asset locations at the end of the period are not necessarily indicative of the geographic distribution of the revenues generated by such assets during the periods.

Basis of Presentation and Sig18

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation: The accompanying interim consolidated financial information as of June 30, 2017, for the three and six months ended June 30, 2017, for the three months ended June 30, 2016, for the period from February 10, 2016 to June 30, 2016 and for the period from January 1, 2016 to February 10, 2016 has been prepared without audit, pursuant to the rules and regulations of the SEC and includes our accounts and those of our majority owned subsidiaries and variable interest entities (“VIEs”) discussed below. All significant intercompany transactions and accounts have been eliminated. They reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations for the interim periods, on a basis consistent with the annual audited financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the SEC, although we believe that the disclosures made are adequate to provide for fair presentation. The consolidated balance sheet at December 31, 2016 is derived from our December 31, 2016 audited financial statements. These interim financial statements should be read in conjunction with the financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2016. The results of operations for the interim periods are not necessarily indicative of the operating results for the full fiscal year or any future periods. Certain previously reported amounts have been reclassified to conform to the current period presentation. In connection with our bankruptcy filing, we were subject to the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 852 Reorganizations Certain pre-petition liabilities subject to Chapter 11 proceedings were considered as Liabilities Subject To Compromise (“LSTC”) on the Petition Date and just prior to our emergence from bankruptcy on the Effective Date. The LSTC classification distinguished such liabilities from the liabilities that were not expected to be compromised and liabilities incurred post-petition. ASC 852 requires that subsequent to the Petition Date, expenses, realized gains and losses and provisions for losses that can be directly associated with the reorganization of the business be reported separately as reorganization items in the consolidated statements of operations. We were required to distinguish pre-petition liabilities subject to compromise from those that are not and post-petition liabilities in our balance sheet. Liabilities that were subject to compromise were reported at the amounts expected to be allowed by the Bankruptcy Court, even if they were settled for lesser amounts as a result of the Reorganization Plan. Upon emergence from bankruptcy on the Effective Date, we adopted fresh-start accounting in accordance with ASC 852, which resulted in the Company becoming a new entity for financial reporting purposes. Upon adoption of fresh-start accounting, our assets and liabilities were recorded at their fair values as of the Effective Date. The Effective Date fair values of our assets and liabilities differed materially from the recorded values of our assets and liabilities as reflected in our historical consolidated balance sheets. The effects of the Reorganization Plan and the application of fresh-start accounting were reflected in our consolidated financial statements as of February 10, 2016 and the related adjustments thereto were recorded in our consolidated statements of operations as reorganization items for the period January 1, 2016 to February 10, 2016. As a result, our consolidated balance sheets and consolidated statement of operations subsequent to the Effective Date will not be comparable to our consolidated balance sheets and statements of operations prior to the Effective Date. Our consolidated financial statements and related notes are presented with a black line division which delineates the lack of comparability between amounts presented on or after February 10, 2016 and dates prior. Our financial results for future periods following the application of fresh-start accounting will be different from historical trends and the differences may be material. References to “Successor” relate to the Company on and subsequent to the Effective Date. References to “Predecessor” refer to the Company prior to the Effective Date. The consolidated financial statements of the Successor have been prepared assuming that the Company will continue as a going concern and contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. In addition to the consolidation of our majority owned subsidiaries, we also consolidate VIEs when we are determined to be the primary beneficiary of a VIE. Determination of the primary beneficiary of a VIE is based on whether an entity has (1) the power to direct activities that most significantly impact the economic performance of the VIE and (2) the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Our determination of the primary beneficiary of a VIE considers all relationships between us and the VIE. Certain subsidiaries of VDC, who were guarantors of our pre-petition debt and part of the Reorganization Plan, became our subsidiaries upon emergence from bankruptcy on the Effective Date. We consolidated these entities in our Predecessor consolidated financial statements because we determined that they were VIEs and that we were the primary beneficiary. The following table summarizes the net effect of consolidating these entities on our Predecessor consolidated statement of operations. Predecessor Period from January 1, 2016 to February 10, 2016 (unaudited, in thousands) Revenue $ 1,219 Operating costs and expenses 1,240 Income before taxes 22 Income tax provision 991 Net income (loss) attributable to noncontrolling interests (969 )
Cash and Cash Equivalents	Cash and Cash Equivalents: Includes deposits with financial institutions as well as short-term money market instruments with maturities of three months or less when purchased.
Inventory	Inventory: Consists of materials, consumables, spare parts and related supplies for our drilling rigs and is carried at the lower of average cost or market.
Property and Equipment	Property and Equipment: Consists of the costs of our drilling rigs, furniture and fixtures, computer equipment and capitalized costs for computer software. Drilling rigs are depreciated on a component basis over estimated useful lives ranging from five to thirty-five years on a straight-line basis as of the date placed in service. Other assets are depreciated upon placement in service over estimated useful lives ranging from three to seven years on a straight-line basis. When assets are sold, retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and a gain or loss is recognized. We evaluate the realization of property and equipment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment loss on our property and equipment exists when estimated undiscounted cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. Any impairment loss recognized would represent the excess of the asset’s carrying value over the estimated fair value. In connection with our adoption of fresh-start accounting upon our emergence from bankruptcy on February 10, 2016, an adjustment of $2.0 billion was recorded to decrease the net book value of our drilling rigs to estimated fair value. As of June 30, 2017, no triggering event has occurred to indicate that the current carrying value of our drilling rigs may not be recoverable. Interest costs and the amortization of debt financing costs related to the financings of our drilling rigs are capitalized as part of the cost while they are under construction and prior to the commencement of each vessel’s first contract. We did not capitalize any interest for the reported periods. Intangible assets: In connection with our acquisition of the and related multi-year drilling contract, the Company recorded an identifiable intangible asset of $12.6 million for the fair value of the acquired favorable drilling contract. The resulting intangible asset is being amortized on a straight-line basis over the term of the drilling contract. Amortization expense for intangible assets was $1.5 million for the three and six months ended June 30, 2017. Expected future intangible asset amortization as of June 30, 2017 is as follows: (in thousands) Fiscal year: Remaining 2017 $ 3,182 2018 6,311 2019 1,643 Thereafter - Total $ 11,136
Intangible Assets	Intangible assets: In connection with our acquisition of the and related multi-year drilling contract, the Company recorded an identifiable intangible asset of $12.6 million for the fair value of the acquired favorable drilling contract. The resulting intangible asset is being amortized on a straight-line basis over the term of the drilling contract. Amortization expense for intangible assets was $1.5 million for the three and six months ended June 30, 2017. Expected future intangible asset amortization as of June 30, 2017 is as follows: (in thousands) Fiscal year: Remaining 2017 $ 3,182 2018 6,311 2019 1,643 Thereafter - Total $ 11,136
Debt Financing Costs	Debt Financing Costs: Costs incurred with debt financings are deferred and amortized over the term of the related financing facility on a straight-line basis which approximates the interest method. Debt issuance costs related to a recognized debt liability are presented in the consolidated balance sheet as a direct deduction from the carrying amount of that debt liability.
Revenue	Revenue: Revenue is recognized as services are performed based on contracted dayrates and the number of operating days during the period. In connection with a customer contract, we may receive lump-sum fees for the mobilization of equipment and personnel or the demobilization of equipment and personnel upon completion. Mobilization fees received and costs incurred to mobilize a rig from one geographic market to another are deferred and recognized on a straight-line basis over the term of such contract, excluding any option periods. Costs incurred to mobilize a rig without a contract are expensed as incurred. Fees or lump-sum payments received for capital improvements to rigs are deferred and amortized to income over the term of the related drilling contract. The costs of such capital improvements are capitalized and depreciated over the useful lives of the assets. Upon completion of drilling contracts, any demobilization fees received are recorded as revenue. We record reimbursements from customers for rebillable costs and expenses as revenue and the related direct costs as operating expenses.
Rig and Equipment Certifications	Rig and Equipment Certifications: We are required to obtain regulatory certifications to operate our drilling rigs and certain specified equipment and must maintain such certifications through periodic inspections and surveys. The costs associated with these certifications, including drydock costs, are deferred and amortized over the corresponding certification periods.
Income Taxes	Income Taxes: Income taxes are provided for based upon the tax laws and rates in effect in the countries in which operations are conducted and income is earned. Deferred income tax assets and liabilities are computed for differences between the financial statement basis and tax basis of assets and liabilities that will result in future taxable or deductible amounts and are based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount expected to be realized. We recognize interest and penalties related to income taxes as a component of income tax expense.
Concentrations of Credit Risk	Concentrations of Credit Risk: Financial instruments that potentially subject us to a significant concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable. We maintain deposits in federally insured financial institutions in excess of federally insured limits. We monitor the credit ratings and our concentration of risk with these financial institutions on a continuing basis to safeguard our cash deposits. We have a limited number of key customers, who are primarily large international oil and gas operators, national oil companies and other international oil and gas companies. Our contracts provide for monthly billings as services are performed and we monitor compliance with contract payment terms on an ongoing basis. Outstanding receivables beyond payment terms are promptly investigated and discussed with the specific customer. We do not have an allowance for doubtful accounts on our trade receivables as of June 30, 2017 or December 31, 2016.
Use of Estimates	Use of Estimates: The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to property and equipment, income taxes, insurance, employee benefits and contingent liabilities. Actual results could differ from these estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments: The fair value of our short-term financial assets and liabilities approximates the carrying amounts represented in the consolidated balance sheet principally due to the short-term nature or floating rate nature of these instruments. At June 30, 2017, the fair value of the 2016 Term Loan Facility, the 10% Second Lien Notes and the Convertible Notes was approximately $140.2 million, $73.0 million and $738.6 million, respectively, based on quoted market prices in a less active market, a Level 2 measurement.
Recent Accounting Standards	Recent Accounting Standards: In May 2014, the FASB issued ASU No. 2014-09, . ASU No. 2014-09 supersedes most of the existing revenue recognition requirements in U.S. GAAP, including industry-specific guidance. The ASU is based on the principle that revenue is recognized when an entity transfers promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard also requires significant additional disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU No. 2014-09 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years, using either a full or a modified retrospective application approach. We plan on adopting the new standard effective January 1, 2018 concurrently with ASU No. 2016-02, Leases (ASC 842) as discussed below. We are evaluating the impact ASU No. 2014-09 will have on our consolidated financial statements and to complete that evaluation, we have completed training on the ASU and have begun contract review and documentation. As part of our assessment, we are liaising with the contract drilling industry association on developing an industry-wide position. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities No. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842): Amendments to the FASB Accounting Standards Codification and to complete that evaluation, we have completed training on the ASU and have started the review and documentation of contracts In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326). In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments, ASU No. 2016-15 is effective for fiscal years beginning after December 15, 2017 utilizing a retrospective transition approach. Early adoption is permitted, provided that all amendments are adopted in the same period. We have not completed an evaluation of ASU 2016-15 and have not yet determined the impact, if any, on our financial statements and related disclosures. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business No.

Basis of Presentation and Sig19

Basis of Presentation and Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Net Effect of Consolidating Entities on Predecessor Consolidated Statement of Operations	The following table summarizes the net effect of consolidating these entities on our Predecessor consolidated statement of operations. Predecessor Period from January 1, 2016 to February 10, 2016 (unaudited, in thousands) Revenue $ 1,219 Operating costs and expenses 1,240 Income before taxes 22 Income tax provision 991 Net income (loss) attributable to noncontrolling interests (969 )
Summary of Expected Future Intangible Asset Amortization	Expected future intangible asset amortization as of June 30, 2017 is as follows: (in thousands) Fiscal year: Remaining 2017 $ 3,182 2018 6,311 2019 1,643 Thereafter - Total $ 11,136

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed	The following table provides the estimated fair values of the assets acquired and liabilities assumed. (in thousands) Total cash consideration $ 13,000 Purchase price allocation: Drilling contract value 12,640 Rig equipment to be sold (net of disposal costs) 2,050 Drillpipe assets 700 Severance liabilities assumed (480 ) Net assets acquired 14,910 Bargain purchase gain $ 1,910

Reorganization Items (Tables)

Reorganization Items (Tables)	6 Months Ended
	Jun. 30, 2017
Reorganization Items [Abstract]
Schedule of Reorganization Items	Reorganization items represent amounts incurred subsequent to the Petition Date as a direct result of the filing of the Reorganization Plan and are comprised of the following: Successor Predecessor Three Months Ended June 30, Six Months Ended June 30, 2017 Period from February 10, 2016 to June 30, 2016 Period from January 1, 2016 to February 10, 2016 2017 2016 (unaudited, in thousands) Professional fees $ — $ 487 $ — $ 641 $ 22,712 Net gain on settlement of LSTC — — — — (1,630,025 ) Fresh-start adjustments — — — — 2,060,232 $ — $ 487 $ — $ 641 $ 452,919

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Long-term Debt	Our debt was composed of the following: June 30, 2017 December 31, 2016 (unaudited, in thousands) 2016 Term Loan Facility $ 140,855 $ 141,570 10% Second Lien Notes, net of financing costs of $1,638 and $1,873 74,487 74,252 Convertible Notes, net of discount of $79,294 and $103,695 681,161 652,980 896,503 868,802 Less current maturities of long-term debt 4,430 1,430 Long-term debt, net $ 892,073 $ 867,372

Supplemental Financial Inform23

Supplemental Financial Information (Tables)	6 Months Ended
	Jun. 30, 2017
Balance Sheet Related Disclosures [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following: June 30, 2017 December 31, 2016 (unaudited, in thousands) Prepaid insurance $ 1,061 $ 782 Sales tax receivable 7,176 7,129 Income tax receivable 965 1,025 Other receivables 235 74 Assets held for sale 2,050 — Other 3,408 3,413 $ 14,895 $ 12,423
Property and Equipment, Net	Property and equipment, net, consisted of the following: June 30, 2017 December 31, 2016 (unaudited, in thousands) Drilling equipment $ 881,637 $ 880,267 Assets under construction 2,291 2,138 Office and technology equipment 18,832 18,764 Leasehold improvements 1,164 1,072 903,924 902,241 Accumulated depreciation (104,677 ) (67,713 ) Property and equipment, net $ 799,247 $ 834,528
Other Assets	Other assets consisted of the following: June 30, 2017 December 31, 2016 Contract value $ 11,136 $ — Performance bond collateral — 3,197 Deferred certification costs 4,355 4,885 Deferred mobilization costs 2,645 4,194 Deferred income taxes 5,203 2,237 Deposits 986 1,181 $ 24,325 $ 15,694
Accrued Liabilities	Accrued liabilities consisted of the following: June 30, 2017 December 31, 2016 (unaudited, in thousands) Interest $ 75 $ 104 Compensation 11,640 11,289 Income taxes payable 5,428 5,008 Other 2,134 2,047 $ 19,277 $ 18,448
Consolidated Statement of Operations Included with Vantage Drilling Company	The Company's Consolidated Statement of Operations included the following transactions with VDC for the periods indicated: Successor Predecessor Three Months Ended June 30, Six Months Ended June 30, 2017 Period from February 10, 2016 to June 30, 2016 Period from January 1, 2016 to February 10, 2016 2017 2016 (unaudited, in thousands) Interest income $ — $ 7 $ — $ 11 $ 3 Interest expense — — — — (662 ) $ — $ 7 $ — $ 11 $ (659 )
Summarizes of Payable to Vantage Drilling Company Included Consolidated Balance Sheet	The following table summarizes the balances payable to VDC included in the Company's Consolidated Balance Sheet as of the periods indicated: June 30, 2017 December 31, 2016 (unaudited, in thousands) Accounts payable to related parties, net $ 17,278 $ 17,278 $ 17,278 $ 17,278

Business Segment and Signific24

Business Segment and Significant Customer Information (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Summary of Revenue by Country	Our revenue by country was as follows: Successor Predecessor Three Months Ended June 30, Six Months Ended June 30, 2017 Period from February 10, 2016 to June 30, 2016 Period from January 1, 2016 to February 10, 2016 2017 2016 (unaudited, in thousands) Congo $ 35,811 $ 25,421 $ 62,687 $ 39,280 $ 13,769 Malaysia 6,581 9,023 14,504 14,959 3,319 Indonesia — 9,165 — 14,401 4,214 Qatar 5,909 — 11,693 — — Other countries (a) 4,962 4,902 6,428 9,657 2,238 Total revenues $ 53,263 $ 48,511 $ 95,312 $ 78,297 $ 23,540 (a) Other countries represent countries in which we operate that individually had operating revenues representing less than 10% of total revenues earned.
Schedule of Property, Plant and Equipment, Net by Country	Our property and equipment, net by country was as follows: June 30, 2017 December 31, 2016 (unaudited, in thousands) Congo $ 267,093 $ 277,305 Malaysia 269,647 280,689 South Africa 188,629 196,473 Other countries (a) 73,878 80,061 Total property and equipment $ 799,247 $ 834,528 (a) Other countries represent countries in which we individually had property and equipment, net, representing less than 10% of total property and equipment, net.

Organization and Recent Events

Organization and Recent Events - Additional Information (Detail)	Apr. 05, 2017USD ($)	Feb. 11, 2016USD ($)shares	Dec. 03, 2015USD ($)$ / sharesshares	Dec. 02, 2015USD ($)Subsidiary	Feb. 28, 2017USD ($)	Jun. 30, 2017USD ($)$ / sharesshares
Organization And Recent Events [Line Items]
Repayments of Parent Note		$ 62,600,000
Number of share embedded in each note holder units | shares						1
Convertible notes payable						$ 172.61
1%/12% Step-Up Senior Secured Third Lien Convertible Notes
Organization And Recent Events [Line Items]
Share issued during period for repayment of debt | shares			4,344,959
Debt Instrument, interest rate						0.083%
Debt instrument, maturity year						2,030
Second Amended and Restated Credit Agreement
Organization And Recent Events [Line Items]
Revolving letter of credit commitment			$ 32,000,000
Repayments of lines of credit			7,000,000
Second Amended and Restated Credit Agreement | Term Loan
Organization And Recent Events [Line Items]
Issuance of senior notes			$ 143,000,000
New 10% Senior Secured Second Lien Notes
Organization And Recent Events [Line Items]
Debt Instrument, interest rate			10.00%
Debt instrument, maturity year			2,020
Senior notes, noncurrent			$ 75,000,000
10% Senior Secured Second Lien Notes
Organization And Recent Events [Line Items]
Debt Instrument, interest rate			10.00%
Issuance of senior notes			$ 76,100,000
Backstop agreement premium paid			2,200,000
Backstop agreement premium paid in cash			1,100,000
Backstop agreement premium paid in senior secured second lien notes			1,100,000
Net cash proceeds from issuance of senior notes			73,900,000
Chapter Eleven Restructuring Agreement and Emergence from Voluntary Reorganization
Organization And Recent Events [Line Items]
Number of subsidiaries acquired | Subsidiary				2
Promissory note issue to acquire subsidiaries				$ 61,500,000
Letter Of Credit | Second Amended and Restated Credit Agreement
Organization And Recent Events [Line Items]
Revolving letter of credit commitment			32,000,000
Repayments of lines of credit			$ 150,000,000
Ordinary Shares | 1%/12% Step-Up Senior Secured Third Lien Convertible Notes
Organization And Recent Events [Line Items]
Number of share embedded in each note holder units | shares						1
Convertible notes payable						$ 175.02
Convertible notes, conversion price | $ / shares			$ 95.60			$ 95.60
Ordinary Shares | Promissory Notes
Organization And Recent Events [Line Items]
Share issued during period for repayment of debt | shares		655,094
Drilling Equipment | Purchase and Sale Agreement
Organization And Recent Events [Line Items]
Purchase price of assets	$ 13,000,000
Payments to acquire assets	$ 11,700,000				$ 1,300,000

Basis of Presentation and Sig26

Basis of Presentation and Significant Accounting Policies - Summary of Net Effect of Consolidating Entities on Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 09, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2017
Variable Interest Entity [Line Items]
Revenue		$ 53,263	$ 48,511	$ 78,297	$ 95,312
Operating costs and expenses		70,239	62,041	110,724	129,155
Income before taxes		(33,211)	(34,296)	(62,157)	(68,284)
Income tax provision		$ 3,381	$ 1,438	$ 2,605	$ 4,807
Predecessor
Variable Interest Entity [Line Items]
Revenue	$ 23,540
Operating costs and expenses	38,467
Income before taxes	(469,640)
Income tax provision	2,371
Net loss attributable to noncontrolling interests	(969)
Variable Interest Entity, Primary Beneficiary | Predecessor
Variable Interest Entity [Line Items]
Revenue	1,219
Operating costs and expenses	1,240
Income before taxes	22
Income tax provision	991
Net loss attributable to noncontrolling interests	$ (969)

Basis of Presentation and Sig27

Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 03, 2015
Basis Of Presentation And Significant Accounting Policies [Line Items]
Decrease the net book value of property and equipment	$ 2,000,000,000	$ 2,000,000,000
Capitalized interest		0	$ 0
Amortization expense of intangible assets		1,504,000
Allowance for doubtful accounts on trade receivables	0	0		$ 0
Convertible Notes Payable
Basis Of Presentation And Significant Accounting Policies [Line Items]
Fair value of notes outstanding	738,600,000	738,600,000
2016 Term Loan Facility
Basis Of Presentation And Significant Accounting Policies [Line Items]
Fair value of notes outstanding	$ 140,200,000	$ 140,200,000
Debt Instrument, interest rate	7.70%	7.70%
10% Second Lien Notes
Basis Of Presentation And Significant Accounting Policies [Line Items]
Fair value of notes outstanding	$ 73,000,000	$ 73,000,000
Debt Instrument, interest rate	10.00%	10.00%		10.00%	10.00%
Drilling Equipment | Minimum
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, plant and equipment, useful lives		5 years
Drilling Equipment | Maximum
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, plant and equipment, useful lives		35 years
Office and Technology Equipment | Minimum
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, plant and equipment, useful lives		3 years
Office and Technology Equipment | Maximum
Basis Of Presentation And Significant Accounting Policies [Line Items]
Property, plant and equipment, useful lives		7 years
Vantage 260
Basis Of Presentation And Significant Accounting Policies [Line Items]
Identifiable intangible assets	$ 12,600,000	$ 12,600,000
Amortization expense of intangible assets	$ 1,500,000	$ 1,500,000

Basis of Presentation and Sig28

Basis of Presentation and Significant Accounting Policies - Summary of Expected Future Intangible Asset Amortization (Detail) - Vantage 260 $ in Thousands	Jun. 30, 2017USD ($)
Fiscal year:
Remaining 2,017	$ 3,182
2,018	6,311
2,019	1,643
Total	$ 11,136

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 05, 2017	Feb. 28, 2017	Jun. 30, 2017	Jun. 30, 2017
Business Acquisition [Line Items]
Bargain purchase gain			$ 1,910	$ 1,910
Drilling Equipment | Purchase and Sale Agreement
Business Acquisition [Line Items]
Purchase price of assets	$ 13,000
Payments to acquire assets	$ 11,700	$ 1,300

Acquisitions - Schedule of Esti

Acquisitions - Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)
Business Combinations [Abstract]
Total cash consideration	$ 13,000	$ 13,000
Purchase price allocation:
Drilling contract value	12,640
Rig equipment to be sold (net of disposal costs)	2,050	2,050
Drillpipe assets	700	700
Severance liabilities assumed	(480)	(480)
Net assets acquired	14,910	14,910
Bargain purchase gain	$ 1,910	$ 1,910

Reorganization Items - Schedule

Reorganization Items - Schedule of Reorganization Items (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	5 Months Ended
	Feb. 09, 2016	Jun. 30, 2016	Jun. 30, 2016
Reorganization Items [Line Items]
Professional fees		$ 487	$ 641
Reorganization Items		$ 487	$ 641
Predecessor
Reorganization Items [Line Items]
Professional fees	$ 22,712
Net gain on settlement of LSTC	(1,630,025)
Fresh-start adjustments	2,060,232
Reorganization Items	$ 452,919

Reorganization Items - Addition

Reorganization Items - Additional Information (Detail) - USD ($)	1 Months Ended	5 Months Ended	6 Months Ended
	Feb. 09, 2016	Jun. 30, 2016	Jun. 30, 2017
Reorganization Items [Line Items]
Cash payment for reorganization items		$ 15,400,000	$ 181,000
Predecessor
Reorganization Items [Line Items]
Cash payment for reorganization items	$ 7,300,000

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt	$ 896,503	$ 868,802
Less current maturities of long-term debt	4,430	1,430
Long-term debt, net	892,073	867,372
2016 Term Loan Facility
Debt Instrument [Line Items]
Long-term debt	140,855	141,570
10% Second Lien Notes
Debt Instrument [Line Items]
Long-term debt	74,487	74,252
Convertible Notes Payable
Debt Instrument [Line Items]
Long-term debt	$ 681,161	$ 652,980

Long-Term Debt (Parenthetical)

Long-Term Debt (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Dec. 03, 2015
10% Second Lien Notes
Debt Instrument [Line Items]
Debt Instrument, interest rate	10.00%	10.00%	10.00%
Debt financing cost	$ 1,638	$ 1,873
Convertible Notes Payable
Debt Instrument [Line Items]
Debt discount	$ 79,294	$ 103,695

Debt - Second Amended and Resta

Debt - Second Amended and Restated Credit Agreement - Additional Information (Detail) - USD ($)	Dec. 03, 2015	Dec. 31, 2015	Jun. 30, 2017
Debt Instrument [Line Items]
Letters of credit			$ 19,500,000
2016 Term Loan Facility
Debt Instrument [Line Items]
Issuance of debt	$ 143,000,000
Credit Facility settled in cash	7,000,000
Debt Instrument, interest rate			7.70%
Quarterly scheduled debt maturities			$ 357,500
Unrestricted cash and cash equivalents			$ 75,000,000
2016 Term Loan Facility | LIBOR
Debt Instrument [Line Items]
Applicable margin on interest			6.50%
Debt Instrument Floor Rate			0.50%
2016 Term Loan Facility | Letter Of Credit
Debt Instrument [Line Items]
Revolving letter of credit commitment	$ 32,000,000
Fees payable on outstanding face amount of letters of credit at rate			5.50%
2016 Term Loan Facility | Pre Petition Credit Facility
Debt Instrument [Line Items]
Extinguishment of debt amount		$ 32,000,000

Debt - 10% Senior Secured Secon

Debt - 10% Senior Secured Second Lien Notes - Additional Information (Detail) - USD ($) $ in Millions	Dec. 03, 2015	Jun. 30, 2017	Dec. 31, 2016
New 10% Second Lien Notes
Debt Instrument [Line Items]
Debt Instrument, interest rate	10.00%
Senior notes, noncurrent	$ 75
10% Second Lien Notes
Debt Instrument [Line Items]
Debt Instrument, interest rate	10.00%	10.00%	10.00%
Backstop agreement premium paid	$ 2.2
Backstop agreement premium paid in cash	1.1
Backstop agreement premium paid in senior secured second lien notes	1.1
Issuance of debt	76.1
Net cash proceeds from issuance of senior notes	73.9
Debt instrument, maturity date		Dec. 31, 2020
Debt instrument, payment terms		Interest on outstanding 10% Second Lien Notes is payable semi-annually in arrears, which commenced on June 30, 2016. Interest is computed on the basis of a 360-day year comprised of twelve 30-day months.
2016 Term Loan Facility
Debt Instrument [Line Items]
Debt Instrument, interest rate		7.70%
Issuance of debt	$ 143
2016 Term Loan Facility | Collateral
Debt Instrument [Line Items]
Debt Instrument, interest rate		10.00%

Debt - 1%_12% Step-Up Senior Se

Debt - 1%/12% Step-Up Senior Secured Third Lien Convertible Notes - Additional Information (Detail) - USD ($)	Dec. 03, 2015	Jun. 30, 2017
Debt Instrument [Line Items]
Number of share embedded in each note holder units		1
Convertible notes payable		$ 172.61
1%/12% Step-Up Senior Secured Third Lien Convertible Notes
Debt Instrument [Line Items]
Debt Instrument, interest rate		0.083%
Shares issued for convertible notes	4,344,959
Pre-petition secured debt claims	$ 2,500,000,000
Convertible notes	$ 750,000,000
Debt instrument, maturity date		Dec. 31, 2030
Debt conversion of shares to be issued		8,000,000
Debt instrument, payment terms		Interest is computed on the basis of a 360-day year comprised of twelve 30-day months at a rate of 1% per annum for the first four years and then increasing to 12% per annum until maturity.
Interest rate per annum for the first four years		1.00%
Interest rate per annum until maturity		12.00%
Minimum affirmative vote percentage	75.00%
Percentage of repurchase of convertible notes		101.00%
1%/12% Step-Up Senior Secured Third Lien Convertible Notes | Convertible Notes Payable
Debt Instrument [Line Items]
Debt instrument estimated fair value		$ 603,100,000
1%/12% Step-Up Senior Secured Third Lien Convertible Notes | Ordinary Shares
Debt Instrument [Line Items]
Convertible notes	$ 95.60	$ 95.60
Number of share embedded in each note holder units		1
Convertible notes payable		$ 175.02

Shareholder's Equity - Addition

Shareholder's Equity - Additional Information (Detail)	1 Months Ended	3 Months Ended	6 Months Ended
	Mar. 31, 2017Directorshares	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2017USD ($)$ / sharesshares	Dec. 31, 2016$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary shares, shares authorized		50,000,000	50,000,000	50,000,000
Ordinary shares, par value | $ / shares		$ 0.001	$ 0.001	$ 0.001
Ordinary shares, shares issued		5,000,053	5,000,053	5,000,053
Ordinary shares, shares outstanding		5,000,053	5,000,053	5,000,053
Number of directors | Director	4
Share based compensation expense allocated from VDC | $		$ 947,000	$ 1,700,000
Time-Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of previously granted shares vested in period			11,237
Performance-Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Terms of award			The TBGs vest annually, ratably over four years; however, accelerated vesting is provided for in the event of a qualified liquidity event as defined in the 2016 Amended MIP (a “QLE”). Otherwise, the settlement of any vested TBGs occurs upon the seventh anniversary of the Effective Date. The PBGs contain vesting eligibility provisions tied to the earlier of a QLE or seven years from the Effective Date.
Share based compensation expense allocated from VDC | $		$ 0
Performance-Based Restricted Stock Units | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			7 years
Employee | Time-Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted			29,008
Employee | Performance-Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted			67,685
Director | Time-Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted	1,660
Number of shares granted to each director	415

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2017
Minimum
Income Tax Contingency [Line Items]
Open tax year	2,010

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Loss Contingencies [Line Items]
Debt default description of event of default	if we become subject to any judgment, decree, order, governmental penalty or fine, this may constitute an event of default under the terms of our secured debt agreements and, following notice from the requisite lenders and/or noteholders, as applicable, result in our outstanding debt under the 2016 Term Loan Facility and 10% Second Lien Notes becoming immediately due and payable at par, and our outstanding debt under Convertible Notes becoming immediately due and payable at the make-whole amount specified in the indenture governing the Convertible Notes.
Petrobras America, Inc.
Loss Contingencies [Line Items]
Loss contingency, disgorgement damages	$ 102

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Prepaid Expense And Other Assets Current [Abstract]
Prepaid insurance	$ 1,061	$ 782
Sales tax receivable	7,176	7,129
Income tax receivable	965	1,025
Other receivables	235	74
Assets held for sale	2,050
Other	3,408	3,413
Prepaid expenses and other current assets	$ 14,895	$ 12,423

Property and Equipment, Net (De

Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property Plant And Equipment [Line Items]
Property and equipment	$ 903,924	$ 902,241
Accumulated depreciation	(104,677)	(67,713)
Property and equipment, net	799,247	834,528
Drilling Equipment
Property Plant And Equipment [Line Items]
Property and equipment	881,637	880,267
Assets under Construction
Property Plant And Equipment [Line Items]
Property and equipment	2,291	2,138
Office and Technology Equipment
Property Plant And Equipment [Line Items]
Property and equipment	18,832	18,764
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment	$ 1,164	$ 1,072

Other Assets (Detail)

Other Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Other Assets Noncurrent Disclosure [Abstract]
Contract value	$ 11,136
Performance bond collateral		$ 3,197
Deferred certification costs	4,355	4,885
Deferred mobilization costs	2,645	4,194
Deferred income taxes	5,203	2,237
Deposits	986	1,181
Total other assets	$ 24,325	$ 15,694

Accrued Liabilities (Detail)

Accrued Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Disclosure Accrued Liabilities [Abstract]
Interest	$ 75	$ 104
Compensation	11,640	11,289
Income taxes payable	5,428	5,008
Other	2,134	2,047
Accrued liabilities	$ 19,277	$ 18,448

Consolidated Statement of Ope45

Consolidated Statement of Operations Transactions with Former Parent Company (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	5 Months Ended
	Feb. 09, 2016	Jun. 30, 2016	Jun. 30, 2016
Interest income		$ 7	$ 11
Operating income with related parties		$ 7	$ 11
Predecessor
Interest income	$ 3
Interest expense	(662)
Operating income with related parties	$ (659)

Consolidated Balance Sheet Bala

Consolidated Balance Sheet Balances Payable to Former Parent Company (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Disclosure Balances Payable To Related Parties Included In Company Consolidated Balance Sheet [Abstract]
Accounts payable to related parties, net	$ 17,278	$ 17,278
Total payable to related parties	$ 17,278	$ 17,278

Business Segment and Signific47

Business Segment and Significant Customer Information - Additional Information (Detail)	1 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	Feb. 09, 2016Customer	Jun. 30, 2017Customer	Jun. 30, 2016Customer	Jun. 30, 2016Customer	Jun. 30, 2017SegmentCustomer	Jan. 31, 2017Drillship	Sep. 30, 2013Drillship
Entity Wide Revenue Major Customer [Line Items]
Number of reportable segments | Segment					1
Number of ultra deepwater drillships for supervise and manage construction							2
Number of ultra deepwater drillships to manage preservation						2
Customer Concentration Risk | Sales
Entity Wide Revenue Major Customer [Line Items]
Number of customers accounted for revenues | Customer	3	4	3	3	3
Customer Concentration Risk | Sales | Customer One
Entity Wide Revenue Major Customer [Line Items]
Percentage of revenue	47.00%	50.00%	52.00%	50.00%	56.00%
Customer Concentration Risk | Sales | Customer Two
Entity Wide Revenue Major Customer [Line Items]
Percentage of revenue	20.00%	18.00%	19.00%	19.00%	15.00%
Customer Concentration Risk | Sales | Customer Three
Entity Wide Revenue Major Customer [Line Items]
Percentage of revenue	17.00%	12.00%	19.00%	18.00%	12.00%
Customer Concentration Risk | Sales | Customer Four
Entity Wide Revenue Major Customer [Line Items]
Percentage of revenue		11.00%
Customer Concentration Risk | Sales | Ultra Deep Water Drillship
Entity Wide Revenue Major Customer [Line Items]
Percentage of revenue	3.20%	0.80%	3.50%	3.40%	0.90%

Business Segment and Signific48

Business Segment and Significant Customer Information - Summary of Revenue by Country (Detail) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
		Feb. 09, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2017
Entity Wide Revenue Major Customer [Line Items]
Revenues			$ 53,263	$ 48,511	$ 78,297	$ 95,312
Predecessor
Entity Wide Revenue Major Customer [Line Items]
Revenues		$ 23,540
Congo
Entity Wide Revenue Major Customer [Line Items]
Revenues			35,811	25,421	39,280	62,687
Congo | Predecessor
Entity Wide Revenue Major Customer [Line Items]
Revenues		13,769
Malaysia
Entity Wide Revenue Major Customer [Line Items]
Revenues			6,581	9,023	14,959	14,504
Malaysia | Predecessor
Entity Wide Revenue Major Customer [Line Items]
Revenues		3,319
Indonesia
Entity Wide Revenue Major Customer [Line Items]
Revenues				9,165	14,401
Indonesia | Predecessor
Entity Wide Revenue Major Customer [Line Items]
Revenues		4,214
Qatar
Entity Wide Revenue Major Customer [Line Items]
Revenues			5,909			11,693
Other countries
Entity Wide Revenue Major Customer [Line Items]
Revenues	[1]		$ 4,962	$ 4,902	$ 9,657	$ 6,428
Other countries | Predecessor
Entity Wide Revenue Major Customer [Line Items]
Revenues	[1]	$ 2,238
[1]	Other countries represent countries in which we operate that individually had operating revenues representing less than 10% of total revenues earned.

Business Segment and Signific49

Business Segment and Significant Customer Information - Schedule of Property,Plant and Equipment,Net by Country (Detail) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Revenues From External Customers And Long Lived Assets [Line Items]
Total property and equipment		$ 799,247	$ 834,528
Congo
Revenues From External Customers And Long Lived Assets [Line Items]
Total property and equipment		267,093	277,305
Malaysia
Revenues From External Customers And Long Lived Assets [Line Items]
Total property and equipment		269,647	280,689
South Africa
Revenues From External Customers And Long Lived Assets [Line Items]
Total property and equipment		188,629	196,473
Other countries
Revenues From External Customers And Long Lived Assets [Line Items]
Total property and equipment	[1]	$ 73,878	$ 80,061
[1]	Other countries represent countries in which we individually had property and equipment, net, representing less than 10% of total property and equipment, net.