Independence Contract Drilling (ICDIQ) 10-Q 3 Nov 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2020	Nov. 02, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-36590
Entity Registrant Name	Independence Contract Drilling, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-1653648
Entity Address, Address Line One	20475 State Highway 249
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77070
City Area Code	281
Local Phone Number	598-1230
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	ICD
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		6,175,818
Entity Central Index Key	0001537028
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 18,813	$ 5,206
Accounts receivable, net	9,316	35,834
Inventories	1,162	2,325
Assets held for sale	1,700	8,740
Prepaid expenses and other current assets	3,725	4,640
Total current assets	34,716	56,745
Property, plant and equipment, net	418,557	457,530
Other long-term assets, net	2,444	2,726
Total assets	455,717	517,001
Liabilities
Current portion of long-term debt	3,141	3,685
Accounts payable	3,595	22,674
Accrued liabilities	10,438	16,368
Merger consideration payable to an affiliate	0	3,022
Current portion of contingent consideration	0	2,814
Total current liabilities	17,174	48,563
Long-term debt	143,440	134,941
Merger consideration payable to an affiliate	2,902	0
Deferred income taxes, net	568	652
Other long-term liabilities	1,912	1,249
Total liabilities	165,996	185,405
Commitments and contingencies (Note 13)
Stockholders’ equity
Common stock, $0.01 par value, 50,000,000 shares authorized; 6,245,298 and 3,876,196 shares issued, respectively, and 6,166,720 and 3,812,050 shares outstanding, respectively	62	38
Additional paid-in capital	517,540	505,831
Accumulated deficit	(223,968)	(170,426)
Treasury stock, at cost, 78,589 shares and 64,146 shares, respectively	(3,913)	(3,847)
Total stockholders’ equity	289,721	331,596
Total liabilities and stockholders’ equity	$ 455,717	$ 517,001

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	50,000,000	50,000,000
Common stock, shares issued (shares)	6,245,298	3,876,196
Common stock, shares outstanding (shares)	6,166,720	3,812,050
Treasury stock (shares)	78,589	64,146

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenues	$ 10,224	$ 45,073	$ 70,099	$ 158,310
Costs and expenses
Operating costs	8,663	34,246	52,987	111,032
Selling, general and administrative	2,796	3,755	10,101	11,308
Severance and merger-related expenses	0	320	1,076	2,688
Depreciation and amortization	10,767	11,154	33,338	33,838
Asset impairment	0	1,966	16,619	9,839
(Gain) loss on disposition of assets, net	(326)	265	(1,208)	3,503
Other expense	0	122	0	377
Total costs and expenses	21,900	51,828	112,913	172,585
Operating loss	(11,676)	(6,755)	(42,814)	(14,275)
Interest expense	(3,554)	(3,560)	(10,812)	(10,913)
Loss before income taxes	(15,230)	(10,315)	(53,626)	(25,188)
Income tax (benefit) expense	(31)	232	(84)	590
Net loss	$ (15,199)	$ (10,547)	$ (53,542)	$ (25,778)
Loss per share:
Basic and diluted (in dollars per share)	$ (2.67)	$ (2.80)	$ (11.91)	$ (6.82)
Weighted average number of common shares outstanding:
Basic and diluted (in shares)	5,703	3,770	4,495	3,780

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock
Beginning balance (shares) at Dec. 31, 2018		3,853,909
Beginning balance at Dec. 31, 2018	$ 391,533	$ 39	$ 504,178	$ (109,638)	$ (3,046)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuance costs	(177)		(177)
Stock-based compensation	387		387
Net loss	(2,373)			(2,373)
Ending balance (shares) at Mar. 31, 2019		3,853,909
Ending balance at Mar. 31, 2019	389,370	$ 39	504,388	(112,011)	(3,046)
Beginning balance (shares) at Dec. 31, 2018		3,853,909
Beginning balance at Dec. 31, 2018	391,533	$ 39	504,178	(109,638)	(3,046)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(25,778)
Ending balance (shares) at Sep. 30, 2019		3,833,087
Ending balance at Sep. 30, 2019	366,635	$ 39	505,384	(135,416)	(3,372)
Beginning balance (shares) at Mar. 31, 2019		3,853,909
Beginning balance at Mar. 31, 2019	389,370	$ 39	504,388	(112,011)	(3,046)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock forfeiture (in shares)		(6,478)
Stock-based compensation	416		416
Net loss	(12,858)			(12,858)
Ending balance (shares) at Jun. 30, 2019		3,847,431
Ending balance at Jun. 30, 2019	376,928	$ 39	504,804	(124,869)	(3,046)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchase of treasury stock (shares)		(14,344)
Purchase of treasury stock	(328)		(2)		(326)
Stock-based compensation	582		582
Net loss	(10,547)			(10,547)
Ending balance (shares) at Sep. 30, 2019		3,833,087
Ending balance at Sep. 30, 2019	366,635	$ 39	505,384	(135,416)	(3,372)
Beginning balance (shares) at Dec. 31, 2019		3,812,050
Beginning balance at Dec. 31, 2019	331,596	$ 38	505,831	(170,426)	(3,847)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
RSUs vested, net of shares withheld for taxes (shares)		11,941
RSUs vested, net of shares withheld for taxes	(26)		(26)
Purchase of treasury stock (shares)		(14,443)
Purchase of treasury stock	(66)				(66)
Stock-based compensation	570		570
Net loss	(28,223)			(28,223)
Ending balance (shares) at Mar. 31, 2020		3,809,548
Ending balance at Mar. 31, 2020	303,851	$ 38	506,375	(198,649)	(3,913)
Beginning balance (shares) at Dec. 31, 2019		3,812,050
Beginning balance at Dec. 31, 2019	331,596	$ 38	505,831	(170,426)	(3,847)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(53,542)
Ending balance (shares) at Sep. 30, 2020		6,166,720
Ending balance at Sep. 30, 2020	289,721	$ 62	517,540	(223,968)	(3,913)
Beginning balance (shares) at Mar. 31, 2020		3,809,548
Beginning balance at Mar. 31, 2020	303,851	$ 38	506,375	(198,649)	(3,913)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock forfeiture (in shares)		(5,716)
RSUs vested, net of shares withheld for taxes (shares)		6,711
RSUs vested, net of shares withheld for taxes	(52)		(52)
Issuance of common stock (shares)		1,192,566
Issuance of common stock, net of offering costs	6,801	$ 12	6,789
Stock-based compensation	290		290
Net loss	(10,120)			(10,120)
Ending balance (shares) at Jun. 30, 2020		5,003,109
Ending balance at Jun. 30, 2020	300,770	$ 50	513,402	(208,769)	(3,913)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (shares)		1,163,611
Issuance of common stock, net of offering costs	3,456	$ 12	3,444
Stock-based compensation	694		694
Net loss	(15,199)			(15,199)
Ending balance (shares) at Sep. 30, 2020		6,166,720
Ending balance at Sep. 30, 2020	$ 289,721	$ 62	$ 517,540	$ (223,968)	$ (3,913)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss	$ (53,542)	$ (25,778)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization	33,338	33,838
Asset impairment	16,619	9,839
Stock-based compensation	1,554	1,385
(Gain) loss on disposition of assets, net	(1,208)	3,503
Deferred income taxes	(84)	590
Amortization of deferred financing costs	709	610
Bad debt expense (recovery)	16	(42)
Changes in operating assets and liabilities
Accounts receivable	26,985	9,265
Inventories	(7)	(586)
Prepaid expenses and other assets	660	3,330
Accounts payable and accrued liabilities	(17,948)	(8,786)
Net cash provided by operating activities	7,092	27,168
Cash flows from investing activities
Purchases of property, plant and equipment	(12,688)	(34,974)
Proceeds from the sale of assets	2,445	7,806
Proceeds from insurance claims	0	1,000
Collection of principal on note receivable	145	0
Net cash used in investing activities	(10,098)	(26,168)
Cash flows from financing activities
Borrowings under PPP Loan	10,000	0
Proceeds from issuance of common stock	10,978	0
Common stock issuance costs	(721)	(177)
Purchase of treasury stock	(66)	(328)
RSUs withheld for taxes	(79)	0
Payments for finance lease obligations	(3,499)	(1,003)
Net cash provided by (used in) financing activities	16,613	(4,101)
Net increase (decrease) in cash and cash equivalents	13,607	(3,101)
Cash and cash equivalents
Beginning of period	5,206	12,247
End of period	18,813	9,146
Supplemental disclosure of cash flow information
Cash paid during the period for interest	10,275	10,496
Supplemental disclosure of non-cash investing and financing activities
Change in property, plant and equipment purchases in accounts payable	(7,488)	(1,320)
Additions to property, plant and equipment through finance leases	3,326	2,181
Extinguishment of finance lease obligations from sale of assets classified as finance leases	(1,504)	(141)
Transfer of assets from held and used to held for sale	0	(5,327)
Transfer from inventory to fixed assets	0	(357)
Revolving Credit Facility
Cash flows from financing activities
Borrowings under Revolving Credit Facility	11,038	2,511
Repayments under Revolving Credit Facility	(11,038)	(5,077)
Financing costs paid	0	(22)
Term Loan Facility
Cash flows from financing activities
Financing costs paid	$ 0	$ (5)

Nature of Operations and Recent

Nature of Operations and Recent Events	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Recent Events	Nature of Operations and Recent Events Except as expressly stated or the context otherwise requires, the terms “we,” “us,” “our,” “ICD,” and the “Company” refer to Independence Contract Drilling, Inc. and its subsidiary. We provide land-based contract drilling services for oil and natural gas producers targeting unconventional resource plays in the United States. We own and operate a premium fleet comprised of modern, technologically advanced drilling rigs. Our rig fleet includes 29 marketed AC powered (“AC”) rigs and a number of additional rigs requiring conversions or upgrades in order to meet our AC pad-optimal specifications. We currently focus our operations on unconventional resource plays located in geographic regions that we can efficiently support from our Houston, Texas and Midland, Texas facilities in order to maximize economies of scale. Currently, our rigs are operating in the Permian Basin, the Haynesville Shale and the Eagle Ford Shale; however, our rigs have previously operated in the Mid-Continent and Eaglebine regions as well. Our business depends on the level of exploration and production activity by oil and natural gas companies operating in the United States, and in particular, the regions where we actively market our contract drilling services. The oil and natural gas exploration and production industry is historically cyclical and characterized by significant changes in the levels of exploration and development activities. Oil and natural gas prices and market expectations of potential changes in those prices significantly affect the levels of those activities. Worldwide political, regulatory, economic and military events, as well as natural disasters have contributed to oil and natural gas price volatility historically, and are likely to continue to do so in the future. Any prolonged reduction in the overall level of exploration and development activities in the United States and the regions where we market our contract drilling services, whether resulting from changes in oil and natural gas prices or otherwise, could materially and adversely affect our business. COVID-19 Pandemic and Market Conditions Update On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (“COVID-19”) and the risks to the international community as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally. The continued spread of the COVID-19 virus and the responses taken to try to contain the virus, such as travel bans and restrictions, quarantines, shelter in place orders, and shutdowns, has caused significant declines in global demand for crude oil. This reduction in demand has occurred concurrent with the initiation of a crude oil price war between members of the Organization of the Petroleum Exporting Countries (“OPEC”) and Russia (collectively, the “OPEC+” group). Even with the production cuts announced by the OPEC+ group and others on April 9, 2020, and the cessation to the crude oil price war, crude oil inventories have continued to rise and to test storage capacity and logistics networks. These factors led to a collapse in oil prices, with the WTI price for May delivery closing at negative $37.63 per barrel on April 20, 2020. In July 2020, OPEC+ agreed to taper oil production cuts, which will reduce production cuts from 9.7 Mmbpd to 7.7 Mmbpd between August 2020 and January 2021. Downward pressure on oil prices is expected to continue for the foreseeable future, and the long-term effects on production and demand are unknown at this time. Currently, there is considerable uncertainty regarding measures to contain the virus and what potential future measures may be put in place, therefore we cannot predict when worldwide demand for oil will stabilize and if or when it will begin to improve or reach pre-COVID-19 levels. As of October 26, 2020, the WTI spot price was $38.39. In response to these adverse market conditions, North American exploration companies, including our customers, have reduced planned capital expenditures and drilling activity. As a result, demand for our products and services began to rapidly decline late in the first and second quarters of 2020. During the first quarter of 2020, our operating rig count reached a peak of 22 rigs and temporarily reached a low of three rigs during the third quarter of 2020. During the third quarter, oil and natural gas prices began to stabilize, and demand for our products began to modestly improve from their historic lows, which allowed us to reactivate additional rigs during the back half of the third quarter 2020. As of September 30, 2020, we had six operating rigs and we have reactivated two additional rigs as of October 31, 2020. However, due to the lack of visibility and confidence towards customer intentions and the unknown future impacts of COVID-19 on economic conditions and oil and gas demand and drilling activity, we cannot assure you that we will be able to maintain this operating rig count or if our operating rig count will continue to improve in the future. Our current backlog of contracts with original terms of six months or longer stands at 4.4 average rigs during the fourth quarter of 2020, including two contracts expiring at the end of 2020 that have higher dayrates than prevailing spot rates. As a result, although our operating rig count has been increasing, we do expect to see our average revenue per day decline as a greater portion of our revenues are generated from rigs operating at prevailing spot rates as our two remaining higher dayrate contracts expire at the end of 2020. Availability under our revolving line of credit is based upon a borrowing base determined by the level of our accounts receivable, with uncollectable amounts or amounts greater than 90 days past due excluded from consideration. As a result, a continued reduction in the utilization of our rigs or delays in payment or payment defaults by any of our customers will continue to have a material adverse impact on our financial liquidity. Similarly, our suppliers may not extend credit to us or require less favorable payment terms or face similar challenges with their own suppliers. We also are reliant upon our third-party lenders’ ability to meet their commitments under our existing credit facilities. Given the dramatic impact of the COVID-19 pandemic across industries and geographic regions, we cannot predict the magnitude it may have on our lenders’ ability to meet their commitments to us, and any failure to do so would have a material adverse effect on our liquidity and financial position. Due to these rapidly declining market conditions, we took the following actions in order to reduce our cost structure: • Salary or compensation reductions for substantially all our employees, including members of executive management; • Suspension of all cash-based incentive compensation, including all members of executive management; • Reduced the number of executive management positions by two; • Reduced the number of directors from seven to five, which became effective following director elections at our 2020 Annual Meeting of Stockholders; • Annual compensation reductions for our directors; and • Reduced headcount for non-field-based personnel by approximately 40%. Depending upon the nature and duration of the COVID-19 pandemic and the nature of containment measures taken in the future, it could have a continued material adverse effect on our business, results of operations and financial condition. On March 27, 2020, President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security (CARES) Act.” The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. We deferred $0.5 million of employer side social security payments during the nine months ended September 30, 2020. On April 27, 2020, we entered into an unsecured loan in the aggregate principal amount of $10.0 million (the “PPP Loan”) pursuant to the Paycheck Protection Program (the “PPP”), sponsored by the Small Business Administration (the “SBA”) as guarantor of loans under the PPP. The PPP is part of the CARES Act , and it provides for loans to qualifying businesses in a maximum amount equal to the lesser of $10.0 million and 2.5 times the average monthly payroll expenses of the qualifying business. The proceeds of the loan may only be used for payroll costs, rent, utilities, mortgage interests, and interest on other pre-existing indebtedness (the “permissible purposes”). The application for these funds required us to, in good faith, certify that current economic uncertainty made the loan request necessary to support our ongoing operations. The receipt of these funds, and the forgiveness of the loan attendant to these funds, is dependent on the Company having initially qualified for the loan and qualifying for the forgiveness of such loan based on our future adherence to the forgiveness criteria. The PPP Loan is subject to any new guidance and new requirements released by the Department of the Treasury who has indicated that all companies that have received funds in excess of $2.0 million will be subject to a government (SBA) audit to further ensure PPP loans are limited to eligible borrowers in need. On October 7, 2020, the SBA released guidance clarifying the deferral period for PPP loan payments. The Paycheck Protection Flexibility Act of 2020 extended the deferral period for loan payments to either (1) the date that SBA remits the borrower's loan forgiveness amount to the lender or (2) if the borrower does not apply for loan forgiveness, ten months after the end of the borrower's loan forgiveness covered period. We intend to apply for forgiveness and we believe our first payment related to any unforgiven portion would be due during the fourth quarter of 2021, with a loan maturity date of April 27, 2022. We cannot predict the length of time that the market disruptions resulting from the COVID-19 pandemic will continue; or when, or if, oil and gas prices and demand for our contract drilling services will decline, continue to improve or return to pre-COVID-19 levels. The extent to which our operating and financial results are affected by the COVID-19 pandemic will depend on various factors and consequences beyond our control, such as the duration and scope of the pandemic; additional actions by businesses and governments in response to the pandemic; and the speed and effectiveness of responses to combat the virus. As a result, our business, operating results and financial conditions are subject to various risks, many of which are aggravated as a result of the declining market conditions and significant uncertainty caused by the COVID-19 pandemic. The CARES Act did not have a material impact on our income taxes. Management will continue to monitor future developments and interpretations for any further impacts on our financial condition, results of operations, or liquidity. Third Amendment to Term Loan Credit Agreement On June 4, 2020, we entered into a Third Amendment, dated as of June 4, 2020 (the “Third Amendment”), to the Credit Agreement, dated as of October 1, 2018 (the “Term Credit Loan Agreement”), to permit us, at our option, subject to required prior notice and a maximum available liquidity condition (including availability under our revolving credit agreement and available cash), to elect to pay accrued and unpaid interest, solely during one three-consecutive-month period immediately following such notice, in kind (the “PIK Amount”). In connection with the amendments, we agreed to pay an additional amount equal to 0.75% of the aggregate principal amount of the loans under the Term Loan Credit Agreement plus all PIK Amounts, if any, that are added to such principal amount being repaid or prepaid on either the maturity date or upon the occurrence of an acceleration of obligations under the Term Loan Credit Agreement. Merger Consideration Amendment On June 4, 2020, we entered into a letter agreement (the “Merger Consideration Amendment”) with MSD Credit Opportunity Master Fund, L.P. to allow for the deferral of payment of the Mechanical Rig Net Proceeds of $2.9 million, to the earlier of (i) June 30, 2022 and (ii) a Change of Control Transaction (the “Payment Date”), and requires us to pay an additional amount in connection with such deferred payment equal to interest accrued on the amount of Mechanical Rig Net Proceeds during the period between May 1, 2020 and the Payment Date, which interest shall accrue at a rate of 15% per annum, compounded quarterly, during the period beginning on May 1, 2020 and ending on December 31, 2020 and at a rate of 25% per annum, compounded quarterly, during any period following December 31, 2020. The Mechanical Rig Net Proceeds were previously payable in the second quarter of 2020. ATM Offering On June 5, 2020, we entered into an equity distribution agreement (the “Agreement”) with Piper Sandler & Co. (the “Agent”), through its Simmons Energy division. Pursuant to the Agreement, we were able to offer and sell through the Agent shares of our common stock, par value $0.01 per share, having an aggregate offering price of up to $11,000,000 (the “Shares”). We began offering shares under this program during the second quarter of 2020 and completed this offering process during the third quarter of 2020, raising $11 million of gross proceeds and issuing an aggregate of 2.4 million shares at an average gross offering price of $4.66 per share. Reverse Stock Split Following approval by our stockholders on February 6, 2020, our Board of Directors approved a 1-for-20 reverse stock split of our common stock. The reverse split was effective March 11, 2020, and all share and earnings per share information have been retroactively adjusted to reflect the reverse stock split and the associated decrease in par value was recorded with the offset to additional paid-in capital.

Interim Financial Information

Interim Financial Information	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Interim Financial Information	Interim Financial Information These unaudited consolidated financial statements include the accounts of ICD and its subsidiary, and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). These consolidated financial statements should be read along with our audited consolidated financial statements for the year ended December 31, 2019, included in our Annual Report on Form 10-K for the year ended December 31, 2019. In management’s opinion, these financial statements contain all adjustments necessary to fairly present our financial position, results of operations, cash flows and changes in stockholders’ equity for all periods presented. As we had no items of other comprehensive income in any period presented, no other components of comprehensive income is presented. Interim results for the three and nine months ended September 30, 2020 may not be indicative of results that will be realized for the full year ending December 31, 2020. Segment and Geographical Information Our operations consist of one reportable segment because all of our drilling operations are located in the United States and have similar economic characteristics. Corporate management administers all properties as a whole rather than as discrete operating segments. Operational data is tracked by rig; however, financial performance is measured as a single enterprise and not on a rig-by-rig basis. Further, the allocation of capital resources is employed on a project-by-project basis across our entire asset base to maximize profitability without regard to individual geographic areas. Asset Impairment As a result of the rapidly deteriorating market conditions described in " COVID-19 Pandemic and Market Conditions Update" , we concluded that a triggering event occurred as of March 31, 2020 and, accordingly, an interim asset impairment test was performed. As a result, we recognized impairment of $3.3 million associated with the decline in the market value of our assets held for sale based upon the market approach method and $13.3 million related to the remaining assets on rigs removed from our marketed fleet, as well as certain other component equipment and inventory; all of which was deemed to be unsaleable and of zero value based upon the current macroeconomic conditions and uncertainties surrounding COVID-19. We have not identified any additional triggering event and did not record any asset impairment during the three months ended June 30, 2020 or September 30, 2020. Due to the uncertainty around COVID-19 and current market conditions, we may have to make further impairment charges in future periods relating to, among other things, fixed assets and inventory. We performed an impairment test during the quarter ended September 30, 2019 and recorded an impairment charge of $2.3 million, which represented the impairment of 100% of our previously recorded goodwill. In June 2019, we reduced property, plant and equipment on our consolidated balance sheet by $3.1 million and recorded $3.1 million of asset impairment expense for certain drilling equipment on our silicon-controlled rectifier (“SCR”) rigs. Additionally, in the first and second quarters of 2019, we reduced property, plant and equipment on our consolidated balance sheet by $2.3 million and $1.7 million, respectively, and recorded $2.0 million and $1.1 million, respectively, of asset impairment expense in conjunction with the sale of miscellaneous drilling equipment and reduced assets held for sale on our consolidated balance sheet by $1.2 million and recorded $1.2 million of asset impairment expense related to miscellaneous drilling equipment previously held for sale, but deemed unsalable in the current market environment. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments , as additional guidance on the measurement of credit losses on financial instruments. The new guidance requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. In addition, the guidance amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The new guidance is effective for public companies for interim and annual periods beginning after December 15, 2019, with early adoption permitted for interim and annual periods beginning after December 15, 2018. In October 2019, the FASB approved a proposal which grants smaller reporting companies additional time to implement FASB standards on current expected credit losses (CECL) to January 2023. As a smaller reporting company, we will defer adoption of ASU 2016-13 until January 2023. We are currently evaluating the impact this guidance will have on our consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes , to simplify the accounting for income taxes. The amendments in the update are effective for public companies for interim and annual periods beginning after December 15, 2020, with early adoption permitted. We plan to adopt this guidance on January 1, 2021 and are currently evaluating the impact of adoption on our consolidated financial statements. On April 1, 2020, we adopted the new standard, ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform (e.g., discontinuation of LIBOR) if certain criteria are met. As of September 30, 2020, we have not yet elected any optional expedients provided in the standard. We will apply the accounting relief as relevant contract and hedge accounting relationship modifications are made during the reference rate reform transition period. We do not expect the standard to have a material impact on our consolidated financial statements.

Sidewinder Merger

Sidewinder Merger	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Sidewinder Merger	Sidewinder Merger We completed the merger with Sidewinder Drilling LLC (“Sidewinder”) on October 1, 2018 (the “Sidewinder Merger”). During the three and nine months ended September 30, 2019 we recorded $0.3 million and $2.7 million, respectively, of merger-related expenses comprised primarily of severance, professional fees and various other integration related expenses. There were no merger expenses recorded during the three and nine months ended September 30, 2020. Certain intangible liabilities were recorded in connection with the Sidewinder Merger for drilling contracts in place at the closing date of the transaction that had unfavorable contract terms as compared to then current market terms for comparable drilling rigs. The intangible liabilities were amortized to operating revenues over the remaining underlying contract terms. As of June 30, 2019, $1.1 million of intangible revenue was recognized as a result of this amortization and the intangible liabilities were fully amortized. In addition, at the time of consummation of the Sidewinder Merger, Sidewinder owned various mechanical rig assets and related equipment (the "Mechanical Rigs") located principally in the Utica and Marcellus plays. As these assets are not consistent with ICD’s core strategy or geographic focus, ICD agreed that these assets can be disposed of, with the Sidewinder unitholders receiving the net proceeds. As a result of this arrangement, on the merger date, we recorded the fair value of the Mechanical Rigs less costs to sell, as assets held for sale, with an offsetting liability in contingent consideration. Subsequently, a majority of these assets were sold at auction for substantially less than the appraised fair values on the merger date. As a result, the contingent consideration liability was reduced by the appraised fair values on the merger date and the proceeds were recorded as merger consideration payable to an affiliate on our consolidated balance sheets.

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	Leases We have multi-year operating and financing leases for corporate office space, field location facilities, land, vehicles and various other equipment used in our operations. We also have a significant number of rentals related to our drilling operations that are day-to-day or month-to-month arrangements. Our multi-year leases have remaining lease terms of greater than one year to four years. The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Operating lease expense $ 153 $ 127 $ 456 $ 376 Short-term lease expense 374 1,480 2,300 3,907 Variable lease expense 65 92 294 363 Finance lease expense: Amortization of right-of-use assets $ 285 $ 273 $ 997 $ 852 Interest expense on lease liabilities 228 41 680 120 Total finance lease expense 513 314 1,677 972 Total lease expense $ 1,105 $ 2,013 $ 4,727 $ 5,618 Supplemental cash flow information related to leases is as follows: Nine Months Ended Nine Months Ended (in thousands) September 30, 2020 September 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 469 $ 357 Operating cash flows from finance leases $ 672 $ 115 Financing cash flows from finance leases $ 3,499 $ 1,003 Right-of-use assets obtained or recorded in exchange for lease obligations: Operating leases $ 252 $ 1,205 Finance leases $ 3,326 $ 2,181 Supplemental balance sheet information related to leases is as follows: (in thousands) September 30, 2020 December 31, 2019 Operating leases: Other long-term assets, net $ 928 $ 1,033 Accrued liabilities $ 571 $ 475 Other long-term liabilities 937 1,250 Total operating lease liabilities $ 1,508 $ 1,725 Finance leases: Property, plant and equipment $ 14,549 $ 14,375 Accumulated depreciation (851) (1,425) Property, plant and equipment, net $ 13,698 $ 12,950 Current portion of long-term debt $ 3,141 $ 3,685 Long-term debt 6,343 7,472 Total finance lease liabilities $ 9,484 $ 11,157 Weighted-average remaining lease term Operating leases 2.8 years 3.6 years Finance leases 2.2 years 2.7 years Weighted-average discount rate Operating leases 8.14 % 8.07 % Finance leases 9.02 % 7.64 % Maturities of lease liabilities at September 30, 2020 were as follows: (in thousands) Operating Leases Finance Leases 2020 $ 193 $ 972 2021 625 3,846 2022 451 5,138 2023 370 262 2024 47 — Thereafter — — Total cash lease payment 1,686 10,218 Add: expected residual value — 564 Less: imputed interest (178) (1,298) Total lease liabilities $ 1,508 $ 9,484
Leases	Leases We have multi-year operating and financing leases for corporate office space, field location facilities, land, vehicles and various other equipment used in our operations. We also have a significant number of rentals related to our drilling operations that are day-to-day or month-to-month arrangements. Our multi-year leases have remaining lease terms of greater than one year to four years. The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Operating lease expense $ 153 $ 127 $ 456 $ 376 Short-term lease expense 374 1,480 2,300 3,907 Variable lease expense 65 92 294 363 Finance lease expense: Amortization of right-of-use assets $ 285 $ 273 $ 997 $ 852 Interest expense on lease liabilities 228 41 680 120 Total finance lease expense 513 314 1,677 972 Total lease expense $ 1,105 $ 2,013 $ 4,727 $ 5,618 Supplemental cash flow information related to leases is as follows: Nine Months Ended Nine Months Ended (in thousands) September 30, 2020 September 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 469 $ 357 Operating cash flows from finance leases $ 672 $ 115 Financing cash flows from finance leases $ 3,499 $ 1,003 Right-of-use assets obtained or recorded in exchange for lease obligations: Operating leases $ 252 $ 1,205 Finance leases $ 3,326 $ 2,181 Supplemental balance sheet information related to leases is as follows: (in thousands) September 30, 2020 December 31, 2019 Operating leases: Other long-term assets, net $ 928 $ 1,033 Accrued liabilities $ 571 $ 475 Other long-term liabilities 937 1,250 Total operating lease liabilities $ 1,508 $ 1,725 Finance leases: Property, plant and equipment $ 14,549 $ 14,375 Accumulated depreciation (851) (1,425) Property, plant and equipment, net $ 13,698 $ 12,950 Current portion of long-term debt $ 3,141 $ 3,685 Long-term debt 6,343 7,472 Total finance lease liabilities $ 9,484 $ 11,157 Weighted-average remaining lease term Operating leases 2.8 years 3.6 years Finance leases 2.2 years 2.7 years Weighted-average discount rate Operating leases 8.14 % 8.07 % Finance leases 9.02 % 7.64 % Maturities of lease liabilities at September 30, 2020 were as follows: (in thousands) Operating Leases Finance Leases 2020 $ 193 $ 972 2021 625 3,846 2022 451 5,138 2023 370 262 2024 47 — Thereafter — — Total cash lease payment 1,686 10,218 Add: expected residual value — 564 Less: imputed interest (178) (1,298) Total lease liabilities $ 1,508 $ 9,484

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customer	Revenue from Contracts with Customers The following table summarizes revenues from our contracts disaggregated by revenue generating activity contained therein for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Dayrate drilling $ 8,367 $ 39,894 $ 59,255 $ 144,478 Mobilization 300 2,010 2,753 4,447 Reimbursables 404 2,795 4,743 7,349 Early termination 1,153 314 3,348 815 Capital modification — 43 — 115 Intangible — — — 1,079 Other — 17 — 27 Total revenue $ 10,224 $ 45,073 $ 70,099 $ 158,310 The following table provides information about receivables and contract liabilities related to contracts with customers. We had no contract assets as of September 30, 2020 or December 31, 2019. (in thousands) September 30, 2020 December 31, 2019 Receivables, which are included in “Accounts receivable, net” $ 8,514 $ 35,378 Contract liabilities, which are included in “Accrued liabilities - deferred revenue” $ (212) $ (311) Significant changes in the contract liabilities balance during the period are as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Revenue recognized that was included in contract liabilities at beginning of period $ — $ 47 $ 311 $ 1,352 Decrease (increase) in contract liabilities due to cash received, excluding amounts recognized as revenue $ (212) $ 428 $ (212) $ (233) The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2020. The estimated revenue does not include amounts of variable consideration that are constrained. Year Ending December 31, (in thousands) 2020 2021 2022 2023 Revenue $ 179 $ 33 $ — $ — The amounts presented in the table above consist only of fixed consideration related to fees for rig mobilizations and demobilizations, if applicable, which are allocated to the drilling services performance obligation as such performance obligation is satisfied. We have elected the exemption from disclosure of remaining performance obligations for variable consideration. Therefore, dayrate revenue to be earned on a rate scale associated with drilling conditions and level of service provided for each fractional-hour time increment over the contract term and other variable consideration such as penalties and reimbursable revenues, have been excluded from the disclosure. If present, these amounts would consist only of fixed consideration related to fees for rig mobilizations and demobilizations, if applicable, which are allocated to the drilling services performance obligation as such performance obligation is satisfied. We have elected the exemption from disclosure of remaining performance obligations for variable consideration. Therefore, dayrate revenue to be earned on a rate scale associated with drilling conditions and level of service provided for each fractional-hour time increment over the contract term and other variable consideration such as penalties and reimbursable revenues, have been excluded from the disclosure. Contract Costs We capitalize costs incurred to fulfill our contracts that (i) relate directly to the contract, (ii) are expected to generate resources that will be used to satisfy our performance obligations under the contract and (iii) are expected to be recovered through revenue generated under the contract. These costs, which principally relate to rig mobilization costs at the commencement of a new contract, are deferred as a current or noncurrent asset (depending on the length of the contract term), and amortized ratably to contract drilling expense as services are rendered over the initial term of the related drilling contract. Such contract costs, recorded as “Prepaid expenses and other current assets”, amounted to $0.4 million and $0.1 million on our consolidated balance sheets at September 30, 2020 and December 31, 2019, respectively. During the three and nine months ended September 30, 2020, contract costs increased by $0.6 million and $1.8 million, respectively, and we amortized $0.2 million and $1.5 million of contract costs, respectively. During the three and nine months ended September 30, 2019, contract costs increased by $0.2 million and $1.7 million, respectively, and we amortized $1.0 million and $2.6 million of contract costs, respectively.

Financial Instruments and Fair

Financial Instruments and Fair Value	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value	Financial Instruments and Fair Value Fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, there exists a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 Unadjusted quoted market prices for identical assets or liabilities in an active market; Level 2 Quoted market prices for identical assets or liabilities in an active market that have been adjusted for items such as effects of restrictions for transferability and those that are not quoted but are observable through corroboration with observable market data, including quoted market prices for similar assets or liabilities; and Level 3 Unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date. This hierarchy requires us to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The carrying value of certain of our assets and liabilities, consisting primarily of cash and cash equivalents, accounts receivable, accounts payable and certain accrued liabilities approximates their fair value due to the short-term nature of such instruments. The fair value of our long-term debt and merger consideration payable to an affiliate are determined by Level 3 measurements based on quoted market prices and terms for similar instruments, where available, and on the amount of future cash flows associated with the debt, discounted using our current borrowing rate for comparable debt instruments (the Income Method). Based on our evaluation of the risk free rate, the market yield and credit spreads on comparable company publicly traded debt issues, we used an annualized discount rate, including a credit valuation allowance, of 28.0%. The following table summarizes the carrying value and fair value of our long-term debt and merger consideration payable to an affiliate as of September 30, 2020 and December 31, 2019. September 30, 2020 December 31, 2019 (in thousands) Carrying Value Fair Value Carrying Value Fair Value Term Loan Facility $ 130,000 $ 83,487 $ 130,000 $ 138,567 Revolving Credit Facility $ — $ — $ — $ — PPP Loan $ 10,000 $ 7,344 $ — $ — Merger consideration payable to an affiliate $ 2,902 $ 2,991 $ 3,022 $ 3,022 The fair value of our assets held for sale is determined using Level 3 measurements. In the first quarter of 2020, we obtained a third-party appraisal to determine the fair value of our assets held for sale. Fair value measurements are applied with respect to our non-financial assets and liabilities measured on a non-recurring basis, which would consist of measurements primarily of long-lived assets.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	InventoriesAll of our inventory as of September 30, 2020 and December 31, 2019 consisted of supplies held for use in our drilling operations. In the first quarter of 2020, we impaired $1.2 million of inventory deemed to have zero value based upon the current macroeconomic conditions and uncertainties surrounding COVID-19.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following: (in thousands) September 30, 2020 December 31, 2019 Accrued salaries and other compensation $ 1,169 $ 3,500 Insurance 1,636 2,861 Deferred revenues 212 701 Property and other taxes 2,373 4,716 Interest 3,072 3,244 Operating lease liability - current 571 475 Other (1) 1,405 871 $ 10,438 $ 16,368 (1) Accrued Liabilities - Other includes $0.8 million in accrued severance, as of September 30, 2020, in connection with our cost reduction measures instituted in response to the COVID-19 pandemic and current deteriorating market conditions.

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Our long-term debt consisted of the following: (in thousands) September 30, 2020 December 31, 2019 Term Loan Facility due October 1, 2023 $ 130,000 $ 130,000 PPP Loan 10,000 — Finance lease obligations 9,484 11,157 149,484 141,157 Less: current portion of finance leases (3,141) (3,685) Less: Term Loan Facility deferred financing costs (2,903) (2,531) Long-term debt $ 143,440 $ 134,941 Credit Facilities On October 1, 2018, we entered into a term loan Credit Agreement (the “Term Loan Credit Agreement”) for an initial term loan in an aggregate principal amount of $130.0 million, (the “Term Loan Facility”) and (b) a delayed draw term loan facility in an aggregate principal amount of up to $15.0 million (the “DDTL Facility”, and together with the Term Loan Facility, the “Term Facilities”). The Term Facilities have a maturity date of October 1, 2023, at which time all outstanding principal under the Term Facilities and other obligations become due and payable in full. At our election, interest under the Term Loan Facility is determined by reference at our option to either (i) a “base rate” equal to the higher of (a) the federal funds effective rate plus 0.05%, (b) the London Interbank Offered Rate (“LIBOR”) with an interest period of one month, plus 1.0%, and (c) the rate of interest as publicly quoted from time to time by the Wall Street Journal as the “prime rate” in the United States, plus an applicable margin of 6.5%, or (ii) a “LIBOR rate” equal to LIBOR with an interest period of one month, plus an applicable margin of 7.5%. The Term Loan Credit Agreement contains financial covenants, including a liquidity covenant of $10.0 million and a springing fixed charge coverage ratio covenant of 1.00 to 1.00 that is tested when availability under the ABL Credit Facility (defined below) and the DDTL Facility is below $5.0 million at any time that a DDTL Facility loan is outstanding. The Term Loan Credit Agreement also contains other customary affirmative and negative covenants, including limitations on indebtedness, liens, fundamental changes, asset dispositions, restricted payments, investments and transactions with affiliates. The Term Loan Credit Agreement also provides for customary events of default, including breaches of material covenants, defaults under the ABL Credit Facility or other material agreements for indebtedness, and a change of control. We are in compliance with our covenants as of September 30, 2020. The obligations under the Term Loan Credit Agreement are secured by a first priority lien on collateral (the “Term Priority Collateral”) other than accounts receivable, deposit accounts and other related collateral pledged as first priority collateral (“Priority Collateral”) under the ABL Credit Facility (defined below) and a second priority lien on such Priority Collateral, and are unconditionally guaranteed by all of our current and future direct and indirect subsidiaries. MSD PCOF Partners IV, LLC (an affiliate of MSD Partners, L.P. "MSD Partners") is the lender of our $130.0 million Term Loan Facility. In July 2019, we revised our Term Loan Credit Agreement to explicitly permit the repurchase of equity interests by the Company pursuant to the stock purchase program that was approved by our Board of Directors. In June 2020, we revised our Term Loan Credit Agreement to elect to pay accrued and unpaid interest, solely during one three recorded as a direct deduction from the face amount of the Term Loan Facility and as a long-term payable on our consolidated balance sheets. The additional amount will be amortized as interest expense over the term of the Term Loan Facility. Additionally on October 1, 2018, we entered into a $40.0 million revolving Credit Agreement (the “ABL Credit Facility”), including availability for letters of credit in an aggregate amount at any time outstanding not to exceed $7.5 million. Availability under the ABL Credit Facility is subject to a borrowing base calculated based on 85% of the net amount of our eligible accounts receivable, minus reserves. The ABL Credit Facility has a maturity date of the earlier of October 1, 2023 or the maturity date of the Term Loan Credit Agreement. At our election, interest under the ABL Credit Facility is determined by reference at our option to either (i) a “base rate” equal to the higher of (a) the federal funds effective rate plus 0.05%, (b) LIBOR with an interest period of one month, plus 1.0%, and (c) the prime rate of Wells Fargo, plus in each case, an applicable base rate margin ranging from 1.0% to 1.5% based on quarterly availability, or (ii) a revolving loan rate equal to LIBOR for the applicable interest period plus an applicable LIBOR margin ranging from 2.0% to 2.5% based on quarterly availability. We also pay, on a quarterly basis, a commitment fee of 0.375% (or 0.25% at any time when revolver usage is greater than 50% of the maximum credit) per annum on the unused portion of the ABL Credit Facility commitment. The ABL Credit Facility contains a springing fixed charge coverage ratio covenant of 1.00 to 1.00 that is tested when availability is less than 10% of the maximum credit. The ABL Credit Facility also contains other customary affirmative and negative covenants, including limitations on indebtedness, liens, fundamental changes, asset dispositions, restricted payments, investments and transactions with affiliates. The ABL Credit Facility also provides for customary events of default, including breaches of material covenants, defaults under the Term Loan Agreement or other material agreements for indebtedness, and a change of control. We are in compliance with our covenants as of September 30, 2020. The obligations under the ABL Credit Facility are secured by a first priority lien on Priority Collateral, which includes all accounts receivable and deposit accounts, and a second priority lien on the Term Priority Collateral, and are unconditionally guaranteed by all of our current and future direct and indirect subsidiaries. As of September 30, 2020, the weighted-average interest rate on our borrowings was 8.50%. At September 30, 2020, the borrowing base under our ABL Credit Facility was $5.5 million, and we had $5.2 million of availability remaining of our $40.0 million commitment on that date. On April 27, 2020, we entered into an unsecured loan in the aggregate principal amount of $10.0 million (the “PPP Loan”) pursuant to the Paycheck Protection Program (the “PPP”), sponsored by the Small Business Administration (the “SBA”) as guarantor of loans under the PPP. The PPP is part of the CARES Act, and it provides for loans to qualifying businesses in a maximum amount equal to the lesser of $10.0 million and 2.5 times the average monthly payroll expenses of the qualifying business. The proceeds of the loan may only be used for payroll costs, rent, utilities, mortgage interests, and interest on other pre-existing indebtedness (the “permissible purposes”) during the covered period that ended on or about October 13, 2020. Interest on the PPP loan is equal to 1.0% per annum. All or part of the loan is forgivable based upon the level of permissible expenses incurred during the covered period and changes to the Company's headcount during the covered period to headcount during the period from January 1, 2020 to February 15, 2020. On October 7, 2020, the SBA released guidance clarifying the deferral period for PPP loan payments. The Paycheck Protection Flexibility Act of 2020 extended the deferral period for loan payments to either (1) the date that SBA remits the borrower's loan forgiveness amount to the lender or (2) if the borrower does not apply for loan forgiveness, 10 months after the end of the borrower's loan forgiveness covered period. While there can be no assurance that such PPP loan can be forgiven, we intend to apply for forgiveness and we believe our first payment related to any unforgiven portion would be due during the fourth quarter of 2021, with a loan maturity date of April 27, 2022.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Prior to June 2019, we issued common stock-based awards to employees and non-employee directors under our 2012 Long-Term Incentive Plan adopted in March 2012 (the “2012 Plan”). In June 2019, we adopted the 2019 Omnibus Incentive Plan (the “2019 Plan”) providing for common stock-based awards to employees and non-employee directors. The 2019 Plan permits the granting of various types of awards, including stock options, restricted stock and restricted stock unit awards, and up to 275,000 shares were authorized for issuance. Restricted stock and restricted stock units may be granted for no consideration other than prior and future services. The purchase price per share for stock options may not be less than the market price of the underlying stock on the date of grant. As of September 30, 2020, approximately 105,055 shares were available for future awards under the 2019 Plan. In connection with the adoption of the 2019 Plan, no further awards will be made under the 2012 Plan. Our policy is to account for forfeitures of share-based compensation awards as they occur. A summary of compensation cost recognized for stock-based payment arrangements is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Compensation cost recognized: Restricted stock and restricted stock units $ 694 $ 582 $ 1,554 $ 1,385 Total stock-based compensation $ 694 $ 582 $ 1,554 $ 1,385 No stock-based compensation was capitalized in connection with rig construction activity during the three and nine months ended September 30, 2020 or 2019. Stock Options We use the Black-Scholes option pricing model to estimate the fair value of stock options granted to employees and non-employee directors. The fair value of the options is amortized to compensation expense on a straight-line basis over the requisite service periods of the stock awards, which are generally the vesting periods. There were no stock options granted during the nine months ended September 30, 2020 or 2019. A summary of stock option activity and related information for the nine months ended September 30, 2020 is as follows: Nine Months Ended September 30, 2020 Options Weighted Outstanding at January 1, 2020 33,458 $ 254.80 Granted — — Exercised — — Forfeited/expired — — Outstanding at September 30, 2020 33,458 $ 254.80 Exercisable at September 30, 2020 33,458 $ 254.80 The number of options vested at September 30, 2020 was 33,458 with a weighted average remaining contractual life of 1.5 years and a weighted average exercise price of $254.80 per share. There were no unvested options or unrecognized compensation cost related to outstanding stock options at September 30, 2020. Time-based Restricted Stock and Restricted Stock Units We have granted time-based restricted stock and restricted stock units to key employees under the 2012 Plan and 2019 Plan. Time-based Restricted Stock Time-based restricted stock awards consist of grants of our common stock that vest over five years. We recognize compensation expense on a straight-line basis over the vesting period. The fair value of restricted stock awards is determined based on the estimated fair market value of our shares on the grant date. As of September 30, 2020, there was $1.7 million in unrecognized compensation cost related to unvested restricted stock awards. This cost is expected to be recognized over a weighted-average period of 1.7 years. A summary of the status of our time-based restricted stock awards and of changes in our time-based restricted stock awards outstanding for the nine months ended September 30, 2020 is as follows: Nine Months Ended September 30, 2020 Shares Weighted Outstanding at January 1, 2020 62,817 $ 64.40 Granted — — Vested (16,767) 64.40 Forfeited (5,716) 64.40 Outstanding at September 30, 2020 40,334 $ 64.40 Time-based Restricted Stock Units We have granted three-year time vested restricted stock unit awards where each unit represents the right to receive, at the end of a vesting period, one share of ICD common stock with no exercise price. The fair value of time-based restricted stock unit awards is determined based on the estimated fair market value of our shares on the grant date. As of September 30, 2020, there was $1.2 million of total unrecognized compensation cost related to unvested time-based restricted stock unit awards. This cost is expected to be recognized over a weighted-average period of 0.9 years. A summary of the status of our time-based restricted stock unit awards and of changes in our time-based restricted stock unit awards outstanding for the nine months ended September 30, 2020 is as follows: Nine Months Ended September 30, 2020 RSUs Weighted Outstanding at January 1, 2020 44,439 $ 59.71 Granted 64,914 12.96 Vested and converted (17,392) 33.06 Forfeited (16,152) 19.21 Outstanding at September 30, 2020 75,809 $ 34.42 Performance-Based and Market-Based Restricted Stock Units We have granted three-year performance-based and market-based restricted stock unit awards, where each unit represents the right to receive, at the end of a vesting period, up to two shares of ICD common stock with no exercise price. Exercisability of the market-based restricted stock unit awards is based on our total shareholder return ("TSR") as measured against the TSR of a defined peer group and vesting of the performance-based restricted stock unit awards is based on our cumulative return on invested capital ("ROIC") as measured against ROIC performance goals determined by the compensation committee of our Board of Directors. We used a Monte Carlo simulation model to value the TSR market-based restricted stock unit awards. The fair value of the performance-based restricted stock unit awards is based on the market price of our common stock on the date of grant. During the restriction period, the performance-based and market-based restricted stock unit awards may not be transferred or encumbered, and the recipient does not receive dividend equivalents or have voting rights until the units vest. As of September 30, 2020, there was unrecognized compensation cost related to unvested performance-based or market-based restricted stock unit awards totaling $0.3 million. This cost is expected to be recognized over a weighted-average period of 1.0 years. A summary of the status of our performance-based and market-based restricted stock unit awards and of changes in our restricted stock unit awards outstanding for the nine months ended September 30, 2020 is as follows: Nine Months Ended September 30, 2020 RSUs Weighted Outstanding at January 1, 2020 23,480 $ 33.90 Granted 24,854 12.42 Vested and converted (1,260) 30.89 Forfeited (8,515) 21.24 Outstanding at September 30, 2020 38,559 $ 22.95

Stockholders_ Equity and Earnin

Stockholders’ Equity and Earnings (Loss) per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Stockholders' Equity and Earnings (Loss) per Share	Stockholders’ Equity and Earnings (Loss) per Share As of September 30, 2020, we had a total of 6,166,720 shares of common stock, $0.01 par value, outstanding. We also had 78,589 shares held as treasury stock. Total authorized common stock is 50,000,000 shares. Basic earnings (loss) per common share (“EPS”) are computed by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. A reconciliation of the numerators and denominators of the basic and diluted losses per share computations is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share data) 2020 2019 2020 2019 Net loss (numerator): $ (15,199) $ (10,547) $ (53,542) $ (25,778) Loss per share: Basic and diluted $ (2.67) $ (2.80) $ (11.91) $ (6.82) Shares (denominator): Weighted average common shares outstanding - basic 5,703 3,770 4,495 3,780 Weighted average common shares outstanding - diluted 5,703 3,770 4,495 3,780

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesOur effective tax rate was 0.2%, (2.2)%, 0.2%, and (2.3)% for the three and nine months ended September 30, 2020 and 2019, respectively. Taxes in both periods relate to Louisiana state income tax and Texas margin tax.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments As of September 30, 2020, we had outstanding purchase commitments to a number of suppliers totaling $0.4 million related primarily to the operation of drilling rigs. All of these commitments relate to equipment and services currently scheduled for delivery in 2020. Contingencies We may be the subject of lawsuits and claims arising in the ordinary course of business from time to time. Management cannot predict the ultimate outcome of such lawsuits and claims. While lawsuits and claims are asserted for amounts that may be material should an unfavorable outcome be the result, management does not currently expect that the outcome of any of these known legal proceedings or claims will have a material adverse effect on our financial position or results of operations.

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Parties	Related Parties In conjunction with the closing of the Sidewinder Merger on October 1, 2018, we entered into the Term Loan Credit Agreement for an initial term loan in an aggregate principal amount of $130.0 million and a delayed draw term loan facility in an aggregate principal amount of up to $15.0 million. MSD PCOF Partners IV, LLC (an affiliate of MSD Partners) is the lender of our $130.0 million Term Loan Facility. We made interest payments on the Term Loan Facility totaling $2.9 million, $9.2 million, $3.3 million and $9.9 million for the three and nine months ended September 30, 2020 and 2019, respectively. Additionally, we have recorded merger consideration payable to an affiliate of $2.9 million related to proceeds received from the sale of specific assets earmarked in the Sidewinder Merger agreement as assets held for sale with the Sidewinder unitholders receiving the net proceeds. On June 4, 2020, we entered into a letter agreement with MSD Credit Opportunity Master Fund, L.P. to allow for the deferral of payment of the merger consideration payable to an affiliate of $2.9 million (see “Merger Consideration Amendment” in Note 1 “ Nature of Operations” ). The merger consideration payable to an affiliate was previously payable in the second quarter of 2020. As of September 30, 2020, accrued interest payable to MSD Credit Opportunity Master Fund, L.P. was $0.2 million.

Interim Financial Information (

Interim Financial Information (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting	These unaudited consolidated financial statements include the accounts of ICD and its subsidiary, and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). These consolidated financial statements should be read along with our audited consolidated financial statements for the year ended December 31, 2019, included in our Annual Report on Form 10-K for the year ended December 31, 2019. In management’s opinion, these financial statements contain all adjustments necessary to fairly present our financial position, results of operations, cash flows and changes in stockholders’ equity for all periods presented. As we had no items of other comprehensive income in any period presented, no other components of comprehensive income is presented.
Segment and Geographical Information	Segment and Geographical Information Our operations consist of one reportable segment because all of our drilling operations are located in the United States and have similar economic characteristics. Corporate management administers all properties as a whole rather than as discrete operating segments. Operational data is tracked by rig; however, financial performance is measured as a single enterprise and not on a rig-by-rig basis. Further, the allocation of capital resources is employed on a project-by-project basis across our entire asset base to maximize profitability without regard to individual geographic areas.
Asset Impairments, net	Asset Impairment As a result of the rapidly deteriorating market conditions described in " COVID-19 Pandemic and Market Conditions Update" , we concluded that a triggering event occurred as of March 31, 2020 and, accordingly, an interim asset impairment test was performed. As a result, we recognized impairment of $3.3 million associated with the decline in the market value of our assets held for sale based upon the market approach method and $13.3 million related to the remaining assets on rigs removed from our marketed fleet, as well as certain other component equipment and inventory; all of which was deemed to be unsaleable and of zero value based upon the current macroeconomic conditions and uncertainties surrounding COVID-19. We have not identified any additional triggering event and did not record any asset impairment during the three months ended June 30, 2020 or September 30, 2020. Due to the uncertainty around COVID-19 and current market conditions, we may have to make further impairment charges in future periods relating to, among other things, fixed assets and inventory.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments , as additional guidance on the measurement of credit losses on financial instruments. The new guidance requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable supportable forecasts. In addition, the guidance amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The new guidance is effective for public companies for interim and annual periods beginning after December 15, 2019, with early adoption permitted for interim and annual periods beginning after December 15, 2018. In October 2019, the FASB approved a proposal which grants smaller reporting companies additional time to implement FASB standards on current expected credit losses (CECL) to January 2023. As a smaller reporting company, we will defer adoption of ASU 2016-13 until January 2023. We are currently evaluating the impact this guidance will have on our consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes , to simplify the accounting for income taxes. The amendments in the update are effective for public companies for interim and annual periods beginning after December 15, 2020, with early adoption permitted. We plan to adopt this guidance on January 1, 2021 and are currently evaluating the impact of adoption on our consolidated financial statements. On April 1, 2020, we adopted the new standard, ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform (e.g., discontinuation of LIBOR) if certain criteria are met. As of September 30, 2020, we have not yet elected any optional expedients provided in the standard. We will apply the accounting relief as relevant contract and hedge accounting relationship modifications are made during the reference rate reform transition period. We do not expect the standard to have a material impact on our consolidated financial statements.
Fair Value Measurement	Fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, there exists a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 Unadjusted quoted market prices for identical assets or liabilities in an active market; Level 2 Quoted market prices for identical assets or liabilities in an active market that have been adjusted for items such as effects of restrictions for transferability and those that are not quoted but are observable through corroboration with observable market data, including quoted market prices for similar assets or liabilities; and Level 3 Unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date. This hierarchy requires us to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Lease, cost	The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Operating lease expense $ 153 $ 127 $ 456 $ 376 Short-term lease expense 374 1,480 2,300 3,907 Variable lease expense 65 92 294 363 Finance lease expense: Amortization of right-of-use assets $ 285 $ 273 $ 997 $ 852 Interest expense on lease liabilities 228 41 680 120 Total finance lease expense 513 314 1,677 972 Total lease expense $ 1,105 $ 2,013 $ 4,727 $ 5,618 Supplemental cash flow information related to leases is as follows: Nine Months Ended Nine Months Ended (in thousands) September 30, 2020 September 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 469 $ 357 Operating cash flows from finance leases $ 672 $ 115 Financing cash flows from finance leases $ 3,499 $ 1,003 Right-of-use assets obtained or recorded in exchange for lease obligations: Operating leases $ 252 $ 1,205 Finance leases $ 3,326 $ 2,181
Assets and liabilities, lessee	Supplemental balance sheet information related to leases is as follows: (in thousands) September 30, 2020 December 31, 2019 Operating leases: Other long-term assets, net $ 928 $ 1,033 Accrued liabilities $ 571 $ 475 Other long-term liabilities 937 1,250 Total operating lease liabilities $ 1,508 $ 1,725 Finance leases: Property, plant and equipment $ 14,549 $ 14,375 Accumulated depreciation (851) (1,425) Property, plant and equipment, net $ 13,698 $ 12,950 Current portion of long-term debt $ 3,141 $ 3,685 Long-term debt 6,343 7,472 Total finance lease liabilities $ 9,484 $ 11,157 Weighted-average remaining lease term Operating leases 2.8 years 3.6 years Finance leases 2.2 years 2.7 years Weighted-average discount rate Operating leases 8.14 % 8.07 % Finance leases 9.02 % 7.64 %
Maturity of operating lease liability	Maturities of lease liabilities at September 30, 2020 were as follows: (in thousands) Operating Leases Finance Leases 2020 $ 193 $ 972 2021 625 3,846 2022 451 5,138 2023 370 262 2024 47 — Thereafter — — Total cash lease payment 1,686 10,218 Add: expected residual value — 564 Less: imputed interest (178) (1,298) Total lease liabilities $ 1,508 $ 9,484
Maturity of finance lease liability	Maturities of lease liabilities at September 30, 2020 were as follows: (in thousands) Operating Leases Finance Leases 2020 $ 193 $ 972 2021 625 3,846 2022 451 5,138 2023 370 262 2024 47 — Thereafter — — Total cash lease payment 1,686 10,218 Add: expected residual value — 564 Less: imputed interest (178) (1,298) Total lease liabilities $ 1,508 $ 9,484

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table summarizes revenues from our contracts disaggregated by revenue generating activity contained therein for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Dayrate drilling $ 8,367 $ 39,894 $ 59,255 $ 144,478 Mobilization 300 2,010 2,753 4,447 Reimbursables 404 2,795 4,743 7,349 Early termination 1,153 314 3,348 815 Capital modification — 43 — 115 Intangible — — — 1,079 Other — 17 — 27 Total revenue $ 10,224 $ 45,073 $ 70,099 $ 158,310
Summary of Contract with Customer, Asset and Liability	The following table provides information about receivables and contract liabilities related to contracts with customers. We had no contract assets as of September 30, 2020 or December 31, 2019. (in thousands) September 30, 2020 December 31, 2019 Receivables, which are included in “Accounts receivable, net” $ 8,514 $ 35,378 Contract liabilities, which are included in “Accrued liabilities - deferred revenue” $ (212) $ (311) Significant changes in the contract liabilities balance during the period are as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Revenue recognized that was included in contract liabilities at beginning of period $ — $ 47 $ 311 $ 1,352 Decrease (increase) in contract liabilities due to cash received, excluding amounts recognized as revenue $ (212) $ 428 $ (212) $ (233)
Estimated Revenue Expected to be Recognized in the Future	The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2020. The estimated revenue does not include amounts of variable consideration that are constrained. Year Ending December 31, (in thousands) 2020 2021 2022 2023 Revenue $ 179 $ 33 $ — $ —

Financial Instruments and Fai_2

Financial Instruments and Fair Value (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of fair value of liabilities	The following table summarizes the carrying value and fair value of our long-term debt and merger consideration payable to an affiliate as of September 30, 2020 and December 31, 2019. September 30, 2020 December 31, 2019 (in thousands) Carrying Value Fair Value Carrying Value Fair Value Term Loan Facility $ 130,000 $ 83,487 $ 130,000 $ 138,567 Revolving Credit Facility $ — $ — $ — $ — PPP Loan $ 10,000 $ 7,344 $ — $ — Merger consideration payable to an affiliate $ 2,902 $ 2,991 $ 3,022 $ 3,022

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following: (in thousands) September 30, 2020 December 31, 2019 Accrued salaries and other compensation $ 1,169 $ 3,500 Insurance 1,636 2,861 Deferred revenues 212 701 Property and other taxes 2,373 4,716 Interest 3,072 3,244 Operating lease liability - current 571 475 Other (1) 1,405 871 $ 10,438 $ 16,368 (1) Accrued Liabilities - Other includes $0.8 million in accrued severance, as of September 30, 2020, in connection with our cost reduction measures instituted in response to the COVID-19 pandemic and current deteriorating market conditions.

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Our long-term debt consisted of the following: (in thousands) September 30, 2020 December 31, 2019 Term Loan Facility due October 1, 2023 $ 130,000 $ 130,000 PPP Loan 10,000 — Finance lease obligations 9,484 11,157 149,484 141,157 Less: current portion of finance leases (3,141) (3,685) Less: Term Loan Facility deferred financing costs (2,903) (2,531) Long-term debt $ 143,440 $ 134,941

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of Compensation Cost	A summary of compensation cost recognized for stock-based payment arrangements is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Compensation cost recognized: Restricted stock and restricted stock units $ 694 $ 582 $ 1,554 $ 1,385 Total stock-based compensation $ 694 $ 582 $ 1,554 $ 1,385
Summary of Stock Option Activity and Related Information	A summary of stock option activity and related information for the nine months ended September 30, 2020 is as follows: Nine Months Ended September 30, 2020 Options Weighted Outstanding at January 1, 2020 33,458 $ 254.80 Granted — — Exercised — — Forfeited/expired — — Outstanding at September 30, 2020 33,458 $ 254.80 Exercisable at September 30, 2020 33,458 $ 254.80
Schedule of Restricted Stock Activity	A summary of the status of our time-based restricted stock awards and of changes in our time-based restricted stock awards outstanding for the nine months ended September 30, 2020 is as follows: Nine Months Ended September 30, 2020 Shares Weighted Outstanding at January 1, 2020 62,817 $ 64.40 Granted — — Vested (16,767) 64.40 Forfeited (5,716) 64.40 Outstanding at September 30, 2020 40,334 $ 64.40 A summary of the status of our time-based restricted stock unit awards and of changes in our time-based restricted stock unit awards outstanding for the nine months ended September 30, 2020 is as follows: Nine Months Ended September 30, 2020 RSUs Weighted Outstanding at January 1, 2020 44,439 $ 59.71 Granted 64,914 12.96 Vested and converted (17,392) 33.06 Forfeited (16,152) 19.21 Outstanding at September 30, 2020 75,809 $ 34.42 A summary of the status of our performance-based and market-based restricted stock unit awards and of changes in our restricted stock unit awards outstanding for the nine months ended September 30, 2020 is as follows: Nine Months Ended September 30, 2020 RSUs Weighted Outstanding at January 1, 2020 23,480 $ 33.90 Granted 24,854 12.42 Vested and converted (1,260) 30.89 Forfeited (8,515) 21.24 Outstanding at September 30, 2020 38,559 $ 22.95

Stockholders_ Equity and Earn_2

Stockholders’ Equity and Earnings (Loss) per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of Numerators and Denominators of Basic and Diluted (Loss) Earnings Per Share	A reconciliation of the numerators and denominators of the basic and diluted losses per share computations is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share data) 2020 2019 2020 2019 Net loss (numerator): $ (15,199) $ (10,547) $ (53,542) $ (25,778) Loss per share: Basic and diluted $ (2.67) $ (2.80) $ (11.91) $ (6.82) Shares (denominator): Weighted average common shares outstanding - basic 5,703 3,770 4,495 3,780 Weighted average common shares outstanding - diluted 5,703 3,770 4,495 3,780

Nature of Operations and Rece_2

Nature of Operations and Recent Events - Operations & Oil and Natural Gas Prices and Drilling Activity (Details) $ / shares in Units, shares in Millions	Jan. 01, 2021	Oct. 26, 2020$ / bbl	Jun. 05, 2020USD ($)$ / shares	Jun. 04, 2020USD ($)	Apr. 20, 2020$ / bbl	Mar. 11, 2020	Jun. 30, 2020drilling_rig	Sep. 30, 2020USD ($)drilling_rigexecutivenumber_of_directors$ / sharesshares	Dec. 31, 2020	Sep. 30, 2020USD ($)drilling_rigexecutivenumber_of_directors$ / shares	Sep. 30, 2019USD ($)	Apr. 27, 2020USD ($)	Mar. 31, 2020drilling_rig	Dec. 31, 2019number_of_directors$ / shares
Property, Plant and Equipment [Line Items]
Market price of oil (in dollars per barrel) | $ / bbl					(37.63)
Number of oil and natural gas rigs | drilling_rig							6						22
Average number of oil and natural gas rigs | drilling_rig								4.4		4.4
Reduction in executive management positions | executive								2		2
Reduction in number of directors | number_of_directors								5		5				7
Reduction of headcount for non-field based personnel, percent										40.00%
Social security tax, employer, deferral, CARES Act										$ 500,000
Line of credit, additional payment as a percentage of principal				0.75%			0.75%
Due to related party, deferred payment				$ 2,900,000
Common stock, par value (usd per share) | $ / shares			$ 0.01					$ 0.01		$ 0.01				$ 0.01
Maximum aggregate offering price for sale of stock			$ 11,000,000
Proceeds from issuance of common stock								$ 11,000,000		$ 10,978,000	$ 0
Number of shares issued (in shares) | shares								2.4
Sale of stock, price per share (in dollars per share) | $ / shares								$ 4.66		$ 4.66
Stock split, conversion ratio						0.05
Subsequent Event
Property, Plant and Equipment [Line Items]
Market price of oil (in dollars per barrel) | $ / bbl		38.39
Forecast
Property, Plant and Equipment [Line Items]
Deferred payment, interest accrual rate	25.00%								15.00%
AC Powered Rigs
Property, Plant and Equipment [Line Items]
Number of rigs | drilling_rig								29		29
Line of credit | PPP Loan
Property, Plant and Equipment [Line Items]
Line of credit, maximum borrowing capacity												$ 10,000,000

Interim Financial Information -

Interim Financial Information - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended				9 Months Ended
	Jun. 30, 2019USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2020segment
Accounting Policies [Abstract]
Reportable segments | segment						1
Impairment of assets held for sale		$ 3.3		$ 1.2
Impairment of assets held for use	$ 3.1	$ 13.3
Goodwill impairment loss			$ 2.3
Decrease in property, plant and equipment	$ 3.1			1.7	$ 2.3
Asset impairment, sale of property plant and equipment				$ 1.1	2
Decrease in assets held for sale					$ 1.2

Sidewinder Merger (Details)

Sidewinder Merger (Details) - USD ($)	Jan. 01, 2021	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Jun. 04, 2020
Business Acquisition [Line Items]
Severance and merger-related expenses		$ 0	$ 320,000			$ 1,076,000	$ 2,688,000
Revenues		10,224,000	45,073,000			70,099,000	158,310,000
Due to related party, deferred payment								$ 2,900,000
Forecast
Business Acquisition [Line Items]
Deferred payment, interest accrual rate	25.00%				15.00%
Intangible
Business Acquisition [Line Items]
Revenues		0	0	$ 1,100,000		0	1,079,000
Sidewinder Drilling, Inc.
Business Acquisition [Line Items]
Severance and merger-related expenses		$ 0	$ 300,000			$ 0	$ 2,700,000

Leases - Narrative (Details)

Leases - Narrative (Details)	Sep. 30, 2020
Minimum
Lessee, Lease, Description [Line Items]
Term of lease, operating	1 year
Term of lease, finance	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of lease, operating	4 years
Term of lease, finance	4 years

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease expense	$ 153	$ 127	$ 456	$ 376
Short-term lease expense	374	1,480	2,300	3,907
Variable lease expense	65	92	294	363
Finance lease expense:
Amortization of right-of-use assets	285	273	997	852
Interest expense on lease liabilities	228	41	680	120
Total finance lease expense	513	314	1,677	972
Total lease expense	$ 1,105	$ 2,013	4,727	5,618
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases			469	357
Operating cash flows from finance leases			672	115
Financing cash flows from finance leases			3,499	1,003
Right-of-use assets obtained or recorded in exchange for lease obligations:
Operating leases			252	1,205
Finance leases			$ 3,326	$ 2,181

Leases - Lease Assets and Liabi

Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Operating leases:
Other long-term assets, net	$ 928	$ 1,033
Accrued liabilities	571	475
Other long-term liabilities	937	1,250
Total operating lease liabilities	1,508	1,725
Finance leases:
Property, plant and equipment	14,549	14,375
Accumulated depreciation	(851)	(1,425)
Property, plant and equipment, net	13,698	12,950
Current portion of long-term debt	3,141	3,685
Long-term debt	6,343	7,472
Total finance lease liabilities	$ 9,484	$ 11,157
Weighted-average remaining lease term
Operating leases	2 years 9 months 18 days	3 years 7 months 6 days
Finance leases	2 years 2 months 12 days	2 years 8 months 12 days
Weighted-average discount rate
Operating leases	8.14%	8.07%
Finance leases	9.02%	7.64%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtAndCapitalLeaseObligations	us-gaap:LongTermDebtAndCapitalLeaseObligations
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesCurrent	us-gaap:AccruedLiabilitiesCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent

Leases - Lease Maturities (Deta

Leases - Lease Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Operating Leases
2020	$ 193
2021	625
2022	451
2023	370
2024	47
Thereafter	0
Total cash lease payment	1,686
Less: imputed interest	(178)
Total lease liabilities	1,508	$ 1,725
Finance Leases
2020	972
2021	3,846
2022	5,138
2023	262
2024	0
Thereafter	0
Total cash lease payment	10,218
Add: expected residual value	564
Less: imputed interest	(1,298)
Total lease liabilities	$ 9,484	$ 11,157

Revenue From Contracts with C_3

Revenue From Contracts with Customers - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 10,224	$ 45,073		$ 70,099	$ 158,310
Dayrate drilling
Disaggregation of Revenue [Line Items]
Revenues	8,367	39,894		59,255	144,478
Mobilization
Disaggregation of Revenue [Line Items]
Revenues	300	2,010		2,753	4,447
Reimbursables
Disaggregation of Revenue [Line Items]
Revenues	404	2,795		4,743	7,349
Early termination
Disaggregation of Revenue [Line Items]
Revenues	1,153	314		3,348	815
Capital modification
Disaggregation of Revenue [Line Items]
Revenues	0	43		0	115
Intangible
Disaggregation of Revenue [Line Items]
Revenues	0	0	$ 1,100	0	1,079
Other
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ 17		$ 0	$ 27

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Receivables and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Receivables, which are included in “Accounts receivable, net”	$ 8,514	$ 35,378
Contract liabilities, which are included in “Accrued liabilities - deferred revenue”	$ (212)	$ (311)

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Assets and Liabilities Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue recognized that was included in contract liabilities at beginning of period	$ 0	$ 47	$ 311	$ 1,352
Decrease (increase) in contract liabilities due to cash received, excluding amounts recognized as revenue	$ (212)	$ 428	$ (212)	$ (233)

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Remaining Performance Obligations (Details) $ in Thousands	Sep. 30, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 179
Revenue, remaining performance obligation, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 33
Revenue, remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 0
Revenue, remaining performance obligation, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 0
Revenue, remaining performance obligation, period	3 years

Revenue from Contracts with C_7

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Capitalized contract cost, current	$ 0.4		$ 0.4		$ 0.1
Capitalized contract cost, increase	0.6	$ 0.2	1.8	$ 1.7
Amortization of contract costs	$ 0.2	$ 1	$ 1.5	$ 2.6

Financial Instruments and Fai_3

Financial Instruments and Fair Value - Narrative (Details)	Sep. 30, 2020
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt instrument, measurement input	0.280

Financial Instruments and Fai_4

Financial Instruments and Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Merger consideration payable to an affiliate	$ 2,902	$ 0
Sidewinder Drilling, Inc.
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Merger consideration payable to an affiliate	2,900
Carrying Value | Sidewinder Drilling, Inc.
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Merger consideration payable to an affiliate	2,902	3,022
Carrying Value | Term Loan Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	130,000	130,000
Carrying Value | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Carrying Value | PPP Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	10,000	0
Fair Value | Sidewinder Drilling, Inc.
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Merger consideration payable to an affiliate	2,991	3,022
Fair Value | Term Loan Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	83,487	138,567
Fair Value | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Fair Value | PPP Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 7,344	$ 0

Inventories (Details)

Inventories (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Inventory Disclosure [Abstract]
Inventory impairment	$ 1.2

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accrued salaries and other compensation	$ 1,169	$ 3,500
Insurance	1,636	2,861
Deferred revenues	212	701
Property and other taxes	2,373	4,716
Interest	3,072	3,244
Operating lease liability - current	571	475
Other	1,405	871
Accrued liabilities	10,438	$ 16,368
Accrued severance	$ 800

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, including current portion	$ 149,484	$ 141,157
Less: current portion of finance leases	(3,141)	(3,685)
Less: Term Loan Facility deferred financing costs	(2,903)	(2,531)
Long-term debt	143,440	134,941
Finance lease obligations
Debt Instrument [Line Items]
Long-term debt, including current portion	9,484	11,157
Term Loan Facility
Debt Instrument [Line Items]
Long-term debt, including current portion	130,000	130,000
PPP Loan
Debt Instrument [Line Items]
Long-term debt, including current portion	$ 10,000	$ 0

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details)	Jun. 04, 2020	Oct. 01, 2018USD ($)	Jun. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Apr. 27, 2020USD ($)
Debt Instrument [Line Items]
Accrued and unpaid interest only payment period			3 months
Line of credit, additional payment as a percentage of principal	0.75%		0.75%
Direct reduction from face amount			$ 1,000,000
Line of credit
Debt Instrument [Line Items]
Weighted average interest rate				8.50%
Term Loan Facility
Debt Instrument [Line Items]
Face amount		$ 130,000,000
Term Loan Facility | Line of credit
Debt Instrument [Line Items]
Face amount		130,000,000
Liquidity covenant		$ 10,000,000
Fixed charge coverage ratio		1
Term Loan Facility | Line of credit | LIBOR
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		7.50%
Term Loan Facility | Line of credit | Prime Rate
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		6.50%
Delayed Draw Term Loan
Debt Instrument [Line Items]
Face amount		$ 15,000,000
Delayed Draw Term Loan | Line of credit
Debt Instrument [Line Items]
Face amount		15,000,000
ABL Credit Facility And Delayed Draw Facility | Line of credit
Debt Instrument [Line Items]
Minimum availability		$ 5,000,000
Revolving Credit Facility | Line of credit
Debt Instrument [Line Items]
Fixed charge coverage ratio		1
Line of credit facility, borrowing base threshold, percentage		85.00%
Commitment fee on unused capacity (as a percent)		0.375%
Line of credit facility, unused commitment fee percentage, revolver contingency		0.25%
Unused commitment fee percentage, maximum credit threshold		50.00%
Fixed charge coverage ratio, maximum credit threshold		10.00%
Borrowing base				$ 5,500,000
Revolving Credit Facility | Line of credit | Federal funds, effective rate
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		0.05%
Revolving Credit Facility | Line of credit | LIBOR
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		1.00%
Revolving Credit Facility | Revolving credit facility | Line of credit
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 40,000,000		40,000,000
Remaining availability				$ 5,200,000
Revolving Credit Facility | Letter of Credit | Line of credit
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 7,500,000
PPP Loan | Line of credit
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity					$ 10,000,000
Minimum | Revolving Credit Facility | Line of credit | Prime Rate
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		1.00%
Minimum | Revolving Credit Facility | Revolving credit facility | Line of credit | LIBOR
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		2.00%
Maximum | Term Loan Facility | Line of credit | Federal funds, effective rate
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		0.05%
Maximum | Term Loan Facility | Line of credit | LIBOR
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		1.00%
Maximum | Revolving Credit Facility | Line of credit | Prime Rate
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		1.50%
Maximum | Revolving Credit Facility | Revolving credit facility | Line of credit | LIBOR
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		2.50%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation capitalized due to rig construction activity	$ 0	$ 0	$ 0	$ 0
Options, granted (in shares)			0	0
Options, exercisable (in shares)	33,458		33,458
Remaining contractual life (years)			1 year 6 months
Weighted-average exercise price (in dollars per share)	$ 254.80		$ 254.80
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (years)			5 years
Unrecognized compensation costs	$ 1,700,000		$ 1,700,000
Period for recognition			1 year 8 months 12 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (years)			3 years
Unrecognized compensation costs	$ 1,200,000		$ 1,200,000
Period for recognition			10 months 24 days
Exercise price (in dollars per share)	$ 0		$ 0
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (years)			3 years
Unrecognized compensation costs	$ 300,000		$ 300,000
Period for recognition			1 year
Shares received per restricted stock unit (in shares)	2		2
2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	275,000		275,000
Number of shares available for future awards (in shares)	105,055		105,055

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 694	$ 582	$ 1,554	$ 1,385
Restricted stock and restricted stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 694	$ 582	$ 1,554	$ 1,385

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Details) - $ / shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Options
Options, beginning balance (in shares)	33,458
Options, granted (in shares)	0	0
Options, exercised (in shares)	0
Options, forfeited/expired (in shares)	0
Options, ending balance (in shares)	33,458
Options, exercisable (in shares)	33,458
Weighted Average Exercise Price
Weighted average exercise price, beginning balance (in dollars per share)	$ 254.80
Weighted average exercise price, granted (in dollars per share)	0
Weighted average exercise price, exercised (in dollars per share)	0
Weighted average exercise price, forfeited/expired (in dollars per share)	0
Weighted average exercise price, ending balance (in dollars per share)	254.80
Weighted-average exercise price, exercisable (in dollars per share)	$ 254.80

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Activity (Details)	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Restricted stock
Shares
Number, beginning balance (in shares) | shares	62,817
Number, granted (in shares) | shares	0
Number, vested and converted (in shares) | shares	(16,767)
Number, forfeited (in shares) | shares	(5,716)
Number, ending balance (in shares) | shares	40,334
Weighted Average Grant-Date Fair Value Per Share
Weighted average grant date fair value per share, beginning balance (in dollars per share) | $ / shares	$ 64.40
Weighted average grant date fair value per share, granted (in dollars per share) | $ / shares	0
Weighted average grant date fair value per share, vested and converted (in dollars per share) | $ / shares	64.40
Weighted average grant date fair value per share, forfeited (in dollars per share) | $ / shares	64.40
Weighted average grant date fair value per share, ending balance (in dollars per share) | $ / shares	$ 64.40
RSUs
Shares
Number, beginning balance (in shares) | shares	44,439
Number, granted (in shares) | shares	64,914
Number, vested and converted (in shares) | shares	(17,392)
Number, forfeited (in shares) | shares	(16,152)
Number, ending balance (in shares) | shares	75,809
Weighted Average Grant-Date Fair Value Per Share
Weighted average grant date fair value per share, beginning balance (in dollars per share) | $ / shares	$ 59.71
Weighted average grant date fair value per share, granted (in dollars per share) | $ / shares	12.96
Weighted average grant date fair value per share, vested and converted (in dollars per share) | $ / shares	33.06
Weighted average grant date fair value per share, forfeited (in dollars per share) | $ / shares	19.21
Weighted average grant date fair value per share, ending balance (in dollars per share) | $ / shares	$ 34.42
Performance-based RSUs
Shares
Number, beginning balance (in shares) | shares	23,480
Number, granted (in shares) | shares	24,854
Number, vested and converted (in shares) | shares	(1,260)
Number, forfeited (in shares) | shares	(8,515)
Number, ending balance (in shares) | shares	38,559
Weighted Average Grant-Date Fair Value Per Share
Weighted average grant date fair value per share, beginning balance (in dollars per share) | $ / shares	$ 33.90
Weighted average grant date fair value per share, granted (in dollars per share) | $ / shares	12.42
Weighted average grant date fair value per share, vested and converted (in dollars per share) | $ / shares	30.89
Weighted average grant date fair value per share, forfeited (in dollars per share) | $ / shares	21.24
Weighted average grant date fair value per share, ending balance (in dollars per share) | $ / shares	$ 22.95

Stockholders_ Equity and Earn_3

Stockholders’ Equity and Earnings (Loss) per Share - Narrative (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Jun. 05, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, par value (usd per share)	$ 0.01		$ 0.01			$ 0.01		$ 0.01
Treasury stock, number of shares held (in shares)	78,589		78,589					64,146
Common stock, shares authorized (shares)	50,000,000		50,000,000					50,000,000
Equity Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	33,458	33,458	33,458	33,458
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	114,368	72,218	114,368	72,218
Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares outstanding (in shares)	6,166,720	3,833,087	6,166,720	3,833,087	5,003,109		3,809,548	3,812,050	3,847,431	3,853,909	3,853,909

Stockholders_ Equity and Earn_4

Stockholders’ Equity and Earnings (Loss) per Share - Basic and Diluted Computation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Net loss (numerator):
Net loss	$ (15,199)	$ (10,120)	$ (28,223)	$ (10,547)	$ (12,858)	$ (2,373)	$ (53,542)	$ (25,778)
Loss per share:
Basic and diluted (in dollars per share)	$ (2.67)			$ (2.80)			$ (11.91)	$ (6.82)
Shares (denominator):
Weighted average common shares outstanding - basic (in shares)	5,703			3,770			4,495	3,780
Weighted average common shares outstanding - diluted (in shares)	5,703			3,770			4,495	3,780

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	0.20%	0.20%	(2.20%)	(2.30%)

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding purchase commitments	$ 0.4

Related Parties (Details)

Related Parties (Details) - USD ($)	Jan. 01, 2021	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Jun. 04, 2020	Dec. 31, 2019	Oct. 01, 2018
Merger consideration payable to an affiliate		$ 2,902,000			$ 2,902,000			$ 0
Due to related party, deferred payment							$ 2,900,000
MSD Credit Opportunity Master Fund, L.P.
Accrued interest payable		200,000			200,000
Forecast
Deferred payment, interest accrual rate	25.00%			15.00%
Sidewinder Drilling, Inc.
Merger consideration payable to an affiliate		2,900,000			2,900,000
Term Loan Facility
Face amount									$ 130,000,000
Interest payments		$ 2,900,000	$ 3,300,000		$ 9,200,000	$ 9,900,000
Delayed Draw Term Loan
Face amount									$ 15,000,000