Independence Contract Drilling (ICDIQ) 10-K 1 Mar 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 15,486,849
Entity Common Stock, Shares Outstanding		6,196,713
Entity Central Index Key	0001537028
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Documents Incorporated by Reference	Portions of the proxy statement for the registrant’s 2021 Annual Meeting of Stockholders (to be filed within 120 days of the close of the registrant’s fiscal year) are incorporated by reference into Part III of this Annual Report on Form 10-K.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 12,279	$ 5,206
Accounts receivable, net	10,023	35,834
Inventories	1,038	2,325
Assets held for sale	0	8,740
Prepaid expenses and other current assets	4,102	4,640
Total current assets	27,442	56,745
Property, plant and equipment, net	382,239	457,530
Other long-term assets, net	3,528	2,726
Total assets	413,209	517,001
Liabilities
Current portion of long-term debt	7,637	3,685
Accounts payable	4,072	22,674
Accrued liabilities	10,723	16,368
Merger consideration payable to an affiliate	0	3,022
Current portion of contingent consideration	0	2,814
Total current liabilities	22,432	48,563
Long-term debt	137,633	134,941
Merger consideration payable to an affiliate	2,902	0
Deferred income taxes, net	505	652
Other long-term liabilities	2,704	1,249
Total liabilities	166,176	185,405
Commitments and contingencies (Note 14)
Stockholders’ equity
Common stock, $0.01 par value, 50,000,000 shares authorized; 6,254,396 and 3,876,196 shares issued, respectively; and 6,175,818 and 3,812,050 shares outstanding, respectively	62	38
Additional paid-in capital	517,948	505,831
Accumulated deficit	(267,064)	(170,426)
Treasury stock, at cost, 78,578 and 64,146 shares, respectively	(3,913)	(3,847)
Total stockholders’ equity	247,033	331,596
Total liabilities and stockholders’ equity	$ 413,209	$ 517,001

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Jun. 05, 2020	Mar. 11, 2020	Mar. 10, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01			$ 0.01
Common stock, shares authorized (in shares)	50,000,000		50,000,000	200,000,000	50,000,000
Common stock, shares issued (in shares)	6,254,396		3,876,196	77,523,973	3,876,196
Common stock, shares outstanding (in shares)	6,175,818		3,812,050	76,241,045	3,812,050
Treasury stock (in shares)	78,578				64,146

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenues	$ 83,418	$ 203,602	$ 142,609
Costs and expenses
Operating costs	65,367	144,913	95,220
Selling, general and administrative	13,484	16,051	15,907
Severance and merger-related expenses	1,076	2,698	13,646
Depreciation and amortization	43,919	45,367	30,891
Asset impairment, net	41,007	35,748	25
Loss (gain) on disposition of assets, net	723	4,943	(740)
Other expense	0	377	0
Total cost and expenses	165,576	250,097	154,949
Operating loss	(82,158)	(46,495)	(12,340)
Interest expense	(14,627)	(14,415)	(7,562)
Loss before income taxes	(96,785)	(60,910)	(19,902)
Income tax (benefit) expense	(147)	(122)	91
Net loss	$ (96,638)	$ (60,788)	$ (19,993)
Loss per share:
Basic and diluted (in dollars per share)	$ (19.69)	$ (16.11)	$ (8.40)
Weighted-average number of common shares outstanding:
Basic and diluted (in shares)	4,907	3,774	2,379

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands		Total	Common Stock		Additional Paid-in Capital	Accumulated Deficit	Treasury Stock	[1]
Beginning balance (in shares) at Dec. 31, 2017	[1]		1,899,261
Beginning balance at Dec. 31, 2017		$ 235,482	$ 19	[1]	$ 326,977	$ (89,645)	$ (1,869)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock issued (in shares)	[1]		69,295
Restricted stock issued		0	$ 1	[1]	(1)
RSUs vested, net of shares withheld for taxes (in shares)	[1]		60,663
RSUs vested, net of shares withheld for taxes		(710)	$ 1	[1]	(711)
Purchase of treasury stock (in shares)	[1]		(12,943)
Purchase of treasury stock		(1,180)			(3)		(1,177)
Shares issued in connection with Sidewinder Merger (in shares)	[1]		1,837,633
Shares issued in connection with Sidewinder Merger		173,105	$ 18	[1]	173,087
Stock-based compensation		4,829			4,829
Net loss		(19,993)				(19,993)
Ending balance (in shares) at Dec. 31, 2018	[1]		3,853,909
Ending balance at Dec. 31, 2018		391,533	$ 39	[1]	504,178	(109,638)	(3,046)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock forfeited (in shares)	[1]		(6,478)
RSUs vested, net of shares withheld for taxes (in shares)	[1]		2,737
RSUs vested, net of shares withheld for taxes		(34)			(34)
Purchase of treasury stock (in shares)	[1]		(38,118)
Purchase of treasury stock		(809)	$ (1)	[1]	(7)		(801)
Common stock issuance costs		(177)			(177)
Stock-based compensation		1,871			1,871
Net loss		(60,788)				(60,788)
Ending balance (in shares) at Dec. 31, 2019	[1]		3,812,050
Ending balance at Dec. 31, 2019		331,596	$ 38	[1]	505,831	(170,426)	(3,847)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock forfeited (in shares)	[1]		(5,716)
RSUs vested, net of shares withheld for taxes (in shares)	[1]		27,750
RSUs vested, net of shares withheld for taxes		(44)			(44)
Purchase of treasury stock (in shares)	[1]		(14,443)
Purchase of treasury stock		(66)					(66)
Issuance of common stock (shares)	[1]		2,356,177
Issuance of common stock, net of offering costs		10,206	$ 24	[1]	10,182
Stock-based compensation		1,979			1,979
Net loss		(96,638)				(96,638)
Ending balance (in shares) at Dec. 31, 2020	[1]		6,175,818
Ending balance at Dec. 31, 2020		$ 247,033	$ 62	[1]	$ 517,948	$ (267,064)	$ (3,913)
[1]	Prior period results have been adjusted to reflect the 1-for-20 reverse stock split that took place in February 2020. See Reverse Stock Split in Note 1 - Nature of Operations and Recent Developments.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net loss	$ (96,638)	$ (60,788)	$ (19,993)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization	43,919	45,367	30,891
Asset impairment, net	41,007	35,748	25
Stock-based compensation	1,979	1,871	4,829
Loss (gain) on disposition of assets, net	723	4,943	(740)
Amortization of deferred rent	0	0	105
Deferred income taxes	(147)	(122)	91
Amortization of deferred financing costs	988	814	492
Write-off of deferred financing costs	0	0	856
Bad debt expense	16	459	22
Changes in operating assets and liabilities, net of effects of Sidewinder Merger
Accounts receivable	26,026	5,695	(1,022)
Inventories	117	(349)	250
Prepaid expenses and other assets	(1,023)	1,473	(4,681)
Accounts payable and accrued liabilities	(16,680)	(7,190)	5,010
Net cash provided by operating activities	287	27,921	16,135
Cash flows from investing activities
Cash acquired in Sidewinder Merger	0	0	10,743
Purchases of property, plant and equipment	(14,229)	(38,320)	(37,550)
Proceeds from insurance claims	0	1,000	257
Proceeds from the sale of assets	5,107	8,951	1,303
Collection of principal on note receivable	145	0	0
Net cash used in investing activities	(8,977)	(28,369)	(25,247)
Cash flows from financing activities
Borrowings under Term Loan Facility	0	0	130,000
Borrowings under PPP Loan	10,000	0	0
Repayment of Sidewinder debt	0	0	(58,512)
Proceeds from issuance of common stock	10,978	0	0
Common stock issuance costs	(772)	(177)	0
Purchase of treasury stock	(66)	(809)	(1,180)
RSUs withheld for taxes	(44)	(34)	(710)
Payments of finance and capital lease obligations	(4,340)	(2,980)
Payments of finance and capital lease obligations			(636)
Net cash provided by (used in) financing activities	15,763	(6,593)	18,826
Net increase (decrease) in cash and cash equivalents	7,073	(7,041)	9,714
Cash and cash equivalents
Beginning of year	5,206	12,247	2,533
End of year	12,279	5,206	12,247
Term Loan Facility
Cash flows from financing activities
Financing costs paid under Credit Facility	0	(5)	(3,371)
Revolving Credit Facility
Cash flows from financing activities
Borrowings under Revolving Credit Facilities	11,045	4,511	55,732
Repayments under Revolving Credit Facilities	(11,038)	(7,077)	(101,707)
Financing costs paid under Credit Facility	$ 0	$ (22)	$ (790)

Nature of Operations and Recent

Nature of Operations and Recent Developments	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Recent Developments	Nature of Operations and Recent Developments Except as expressly stated or the context otherwise requires, the terms “we,” “us,” “our,” the “Company” and “ICD” 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. 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, Drilling Activity 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. Our operating rig count experienced a similar collapse, bottoming at three operating rigs during the third quarter of 2020. Oil prices have recently recovered with the WTI price reaching $60.07 on February 16, 2021 supported by production cuts by OPEC+. 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, as well as uncertainty on how long OPEC+ will continue to maintain current production cuts, therefore we cannot predict when worldwide supply and demand for oil will stabilize. In response to these adverse market conditions and uncertainty, our customers reduced planned capital expenditures and drilling activity. As a result, demand for our services rapidly declined 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 2020. As of December 31, 2020, we had eleven contracted rigs. However, due to the lack of visibility and confidence towards customer intentions and the unknown future impacts of COVID-19 and changes to OPEC+ production cuts 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 that our operating rig count will continue to improve in the future. Two contracts that expired at the end of 2020 had higher dayrates than prevailing spot rates. As a result, although our operating rig count has been increasing, these rigs are being contracted at prevailing market rates that remain depressed, therefore, we do expect to see our average revenue per day decline. Due to these rapidly declining market conditions, we took the following actions at the end of the first quarter of 2020 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; • Reduced annual compensation reductions for our directors; and • Reduced headcount significantly for non-field-based personnel. 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 $0.8 million of employer social security payments during the year ended December 31, 2020. 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. 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. PPP Loan 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. Common Stock Purchase Agreement On November 11, 2020, we entered into a Common Stock Purchase Agreement (the “Commitment Purchase Agreement”) and a Registration Rights Agreement (the “Registration Rights Agreement”) with Tumim Stone Capital LLC (“Tumim”). Pursuant to the Commitment Purchase Agreement, the Company has the right to sell to Tumim up to $5,000,000 (the “Total Commitment”) in shares of its common stock, par value $0.01 per share (the “Shares”) (subject to certain conditions and limitations) from time to time during the term of the Commitment Purchase Agreement. Sales of common stock pursuant to the Commitment Purchase Agreement, and the timing of any sales, are solely at our option and we are under no obligation to sell securities pursuant to this arrangement. Shares may be sold by the Company pursuant to this arrangement over a period of up to 24 months, commencing on December 1, 2020. Under the applicable rules of the New York Stock Exchange (“NYSE”), in no event may we issue more than 1,234,546 shares of our common stock, which represents 19.99% of the shares of our common stock outstanding immediately prior to the execution of the Commitment Purchase Agreement (the “Exchange Cap”), to Tumim under the Commitment Purchase Agreement, unless (i) we obtain stockholder approval to issue shares of our common stock in excess of the Exchange Cap or (ii) the price of all applicable sales of our common stock to Tumim under the Commitment Purchase Agreement equals or exceeds the lower of (A) the official closing price on the NYSE immediately preceding the delivery by us of an applicable purchase notice under the Commitment Purchase Agreement and (B) the average of the closing prices of our common stock on the NYSE for the five business days immediately preceding the delivery by us of an applicable purchase notice under the Commitment Purchase Agreement, in each case plus $0.128, such that the transactions contemplated by the Commitment Purchase Agreement are exempt from the Exchange Cap limitation under applicable NYSE rules. In any event, the Commitment Purchase Agreement specifically provides that we may not issue or sell any shares of our common stock under the Commitment Purchase Agreement if such issuance or sale would breach any applicable rules or regulations of the NYSE. The Company has also limited the aggregate number of shares of common stock reserved for issuance under the Commitment Purchase Agreement to 1,500,000 shares without subsequent board approval. In all instances, we may not sell shares of our common stock to Tumim under the Commitment Purchase Agreement if it would result in Tumim beneficially owning more than 4.99% of the common stock (the “Beneficial Ownership Cap”). The proceeds under the Commitment Purchase Agreement will depend on the frequency and prices at which the Company sells shares of its stock to Tumim. We determined that the right to sell additional shares represents a freestanding put option under ASC 815 Derivatives and Hedging, but has a fair value of zero, and therefore no additional accounting was required. Transaction costs, of $0.5 million, incurred in connection with entering into the Purchase Agreement were expensed as selling, general and administrative expense. 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. 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 stock split reduced the number of shares of common stock issued and outstanding from 77,523,973 and 76,241,045 shares, respectively, to 3,876,196 and 3,812,050 shares, respectively, and reduced the number of authorized shares of our common stock from 200,000,000 shares to 50,000,000 shares. The reverse split was effective March 11, 2020, and all share and earnings per share information in these consolidated financial statements 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. Sidewinder Merger and Merger Consideration Amendment We completed the merger with Sidewinder Drilling LLC on October 1, 2018. During the year ended December 31, 2019 and 2018, we recorded $2.7 million and $13.6 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 year ended December 31, 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. During the year ended December 31, 2019 and 2018, $1.1 million and $2.0 million, respectively, of intangible revenue was recognized as a result of this amortization. The intangible liabilities were fully amortized in the second quarter of 2019. 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 were not consistent with ICD’s core strategy or geographic focus, ICD agreed that these assets could 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 a related liability in contingent consideration. Subsequently, these assets were sold at auction for substantially less than the appraised fair values on the merger date. As a result, in the second quarter of 2020, 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. 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 (such applicable date, 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. 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 then current macroeconomic conditions and uncertainties surrounding COVID-19. In the fourth quarter of 2020, due to the highly competitive market and in an effort to minimize capital spending, management drafted and approved a plan to upgrade our existing fleet by utilizing the primary components needed to complete the upgrades from five of our existing rigs and these five rigs were removed from our marketed fleet. We recorded an impairment charge of $21.9 million related to the remaining assets on these non-marketed rigs. Additionally, we recorded a $2.4 million asset impairment based upon the market approach method on certain capital spare parts, all of which were deemed to be incompatible with our upgraded fleet. Due to the uncertainty around the COVID-19 pandemic and current market conditions, we may have to make further impairment charges in future periods relating to, among other things, fixed assets and inventory. In the first and second quarters of 2019, we recorded $2.0 million and $1.1 million, respectively, of asset impairment expense in conjunction with the sale of miscellaneous drilling equipment at auctions. In the second quarter of 2019, in light of the softening demand for contract drilling services, we recorded an impairment charge of $4.4 million relating to certain components on our SCR rigs and various other equipment. Management determined that these rigs could not be competitively marketed in the then current environment as SCR rigs and we removed them from our marketed fleet. Due to the high volume of idle SCR drilling equipment on the market at the time, management did not believe that the SCR drilling equipment could be sold for a material amount in the then current market environment, and therefore took the impairment charge. We performed a goodwill impairment test during the third quarter of 2019 and recorded an impairment charge of $2.3 million, which represented the impairment of 100% of our previously recorded goodwill. The impairment was primarily the result of the downturn in industry conditions since the consummation of the Sidewinder Merger in the fourth quarter of 2018 and the subsequent related decline in the price of our common stock as of September 30, 2019. During the fourth quarter of 2019, we recorded impairments totaling $25.9 million relating primarily to our decision to remove two rigs from our marketed, or to-be-marketed fleet, as well as a plan to sell or otherwise dispose of rigs and related component equipment, much of which was acquired in connection with the Sidewinder Merger. Assets Held for Sale As a result of the rapidly deteriorating market conditions described in "COVID-19 Pandemic and Market Conditions Update" , we recognized impairment of $3.3 million as of March 31, 2020 associated with the decline in the market value of our assets held for sale. Throughout 2020, we sold $2.6 million of assets held for sale and received cash proceeds of $1.3 million, resulting in $1.3 million of loss on sale of assets. Additionally during 2020, assets held for sale were reduced by $2.8 million related to the remaining fair value of mechanical rigs acquired in the Sidewinder Merger which was recorded as a reduction in the related contingent consideration liability on our consolidated balance sheets. During the fourth quarter of 2019, in conjunction with our plan to sell certain non-pad optimal rigs or partial rigs and related equipment acquired in the Sidewinder Merger, we impaired the related assets to fair value less estimated cost to sell and recorded $5.9 million of assets held for sale on our consolidated balance sheet. Assets held for sale as of December 31, 2019 also included the remaining $2.8 million of unsold mechanical rigs belonging to Sidewinder unitholders as part of the Sidewinder Merger agreement.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation These audited consolidated financial statements include all the accounts of ICD and its subsidiary. All significant intercompany accounts and transactions have been eliminated. Except for the subsidiary, we have no controlling financial interests in any other entity which would require consolidation. These audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). As we had no items of other comprehensive income in any period presented, no other comprehensive income is presented. Cash and Cash Equivalents We consider short-term, highly liquid investments that have an original maturity of three months or less to be cash equivalents. Accounts Receivable Accounts receivable is comprised primarily of amounts due from our customers for contract drilling services. Accounts receivable are reduced to reflect estimated realizable values by an allowance for doubtful accounts based on historical collection experience and specific review of current individual accounts. Receivables are written off when they are deemed to be uncollectible. Allowance for doubtful accounts was $0.5 million as of December 31, 2020 and 2019. Inventories Inventory is stated at lower of cost or net realizable value and consists primarily of supplies held for use in our drilling operations. Cost is determined on an average cost basis. Property, Plant and Equipment, net Property, plant and equipment, including renewals and betterments, are stated at cost less accumulated depreciation. All property, plant and equipment are depreciated using the straight-line method based on the estimated useful lives of the assets. The cost of maintenance and repairs are expensed as incurred. Major overhauls and upgrades are capitalized and depreciated over their remaining useful life. Depreciation of property, plant and equipment is recorded based on the estimated useful lives of the assets as follows: Estimated Useful Life Buildings 20 - 39 years Drilling rigs and related equipment 3 - 20 years Machinery, equipment and other 3 - 7 years Vehicles 2 - 5 years Our operations are managed from field locations that we own or lease, that contain office, shop and yard space to support day-to-day operations, including repair and maintenance of equipment, as well as storage of equipment, materials and supplies. We currently have six such field locations. Additionally, we lease office space for our corporate headquarters in northwest Houston. Leases are evaluated at inception or at any subsequent material modification to determine if the lease should be classified as a finance or operating lease. We review our assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets that are held and used is measured by comparison of the estimated future undiscounted cash flows associated with the asset to the carrying amount of the asset. If the carrying value of such assets is less than the estimated undiscounted cash flow, an impairment charge is recorded in the amount by which the carrying amount of the assets exceeds their estimated fair value. For further discussion, see Asset Impairments in Note 1 -Nature of Operations and Recent Developments. Construction in progress represents the costs incurred for drilling rigs and rig upgrades under construction at the end of the period. This includes third party costs relating to the purchase of rig components as well as labor, material and other identifiable direct and indirect costs associated with the construction of the rig. Capitalized Interest We capitalize interest costs related to rig construction projects. Interest costs are capitalized during the construction period based on the weighted-average interest rate of the related debt. We did not capitalize any interest for the year ended December 31, 2020. Capitalized interest amounted to $0.3 million and $0.2 million for the years ended December 31, 2019 and 2018, respectively. 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; 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 is 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, we used an annualized discount rate, including a credit valuation allowance, of 17.2%. The following table summarizes the carrying value and fair value of our long-term debt as of December 31, 2020 and 2019. December 31, 2020 December 31, 2019 (in thousands) Carrying Value Fair Value Carrying Value Fair Value Term Loan Facility $ 130,000 $ 106,854 $ 130,000 $ 138,567 Revolving Credit Facility 8 6 — — PPP Loan 10,000 8,589 — — Merger consideration payable to an affiliate 2,902 3,490 — — The fair value of our assets held for sale is determined using Level 3 measurements. Fair value measurements are applied with respect to our non-financial assets and liabilities measured on a nonrecurring basis, which would consist of measurements primarily of long-lived assets. There were no transfers between levels of the hierarchy for the years ended December 31, 2020 and 2019. Goodwill Goodwill was recorded by the Company in connection with the Sidewinder Merger on October 1, 2018 and represented the excess of the purchase price over the fair value of the assets acquired, net of liabilities assumed. Goodwill is not amortized, but rather tested and assessed for impairment annually in the third quarter of each year, or more frequently if certain events or changes in circumstance indicate that the carrying amount may exceed fair value. We elected to early adopt ASU No. 2017-04, Intangibles - Goodwill and Other. Pursuant to the new guidance, an entity performs its goodwill impairment test by comparing the fair value of the relevant reporting unit with its book value and then recognize an impairment charge as necessary, for the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit. We performed an impairment test during the third quarter of 2019 and recorded an impairment charge of $2.3 million, which represents the impairment of 100% of our previously recorded goodwill. The impairment was primarily the result of the downturn in industry conditions since the consummation of the Sidewinder Merger in the fourth quarter of 2018 and the subsequent related decline in the price of our common stock as of September 30, 2019. Intangible Liabilities 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. $1.1 million of intangible revenue was recognized in 2019 as a result of this amortization and the intangible liabilities were fully amortized. Revenue and Cost Recognition We earn contract drilling revenues pursuant to drilling contracts entered into with our customers. We perform drilling services on a “daywork” basis, under which we charge a specified rate per day, or “dayrate.” The dayrate associated with each of our contracts is a negotiated price determined by the capabilities of the rig, location, depth and complexity of the wells to be drilled, operating conditions, duration of the contract and market conditions. The term of land drilling contracts may be for a defined number of wells or for a fixed time period. We generally receive lump-sum payments for the mobilization of rigs and other drilling equipment at the commencement of a new drilling contract. Revenue and costs associated with the initial mobilization are deferred and recognized ratably over the term of the related drilling contract once the rig spuds. Costs incurred to relocate rigs and other equipment to an area in which a contract has not been secured are expensed as incurred. Our contracts provide for early termination fees in the event our customers choose to cancel the contract prior to the specified contract term. We record a contract liability for such fees received up front, and recognize them ratably as contract drilling revenue over the initial term of the related drilling contract or until such time that all performance obligations are satisfied. While under contract, our rigs generally earn a reduced rate while the rig is moving between wells or drilling locations, or on standby waiting for the customer. Reimbursements for the purchase of supplies, equipment, trucking and other services that are provided at the request of our customers are recorded as revenue when incurred. The related costs are recorded as operating expenses when incurred. Revenue is presented net of any sales tax charged to the customer that we are required to remit to local or state governmental taxing authorities. Our operating costs include all expenses associated with operating and maintaining our drilling rigs. Operating costs include all “rig level” expenses such as labor and related payroll costs, repair and maintenance expenses, supplies, workers' compensation and other insurance, ad valorem taxes and equipment rental costs. Also included in our operating costs are certain costs that are not incurred at the rig level. These costs include expenses directly associated with our operations management team as well as our safety and maintenance personnel who are not directly assigned to our rigs but are responsible for the oversight and support of our operations and safety and maintenance programs across our fleet. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases, to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. Under the new guidance, lessees are required to recognize (with the exception of leases with terms of 12 months or less) at the commencement date, a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. In July 2018, the FASB issued ASU No. 2018-11, Leases: Targeted Improvements, which provides an option to apply the guidance prospectively, and provides a practical expedient allowing lessors to combine the lease and non-lease components of revenues where the revenue recognition pattern is the same and where the lease component, when accounted for separately, would be considered an operating lease. The practical expedient also allows a lessor to account for the combined lease and non-lease components under ASC Topic 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined components. We adopted ASU No. 2016-02 and its related amendments (collectively known as ASC 842) effective on January 1, 2019, using the effective date method. See Note 5 - Leases for the impact of adopting this standard and a discussion of our policies related to leases. Stock-Based Compensation We record compensation expense over the requisite service period for all stock-based compensation based on the grant date fair value of the award. The expense is included in selling, general and administrative expense in our statements of operations or capitalized in connection with rig construction activity. Income Taxes We use the asset and liability method of accounting for income taxes. Under this method, we record deferred income taxes based upon differences between the financial reporting basis and tax basis of assets and liabilities, and use enacted tax rates and laws that we expect will be in effect when we realize those assets or settle those liabilities. We review deferred tax assets for a valuation allowance based upon management’s estimates of whether it is more likely than not that a portion of the deferred tax asset will be fully realized in a future period. We recognize the financial statement benefit of a tax position only after determining that the relevant taxing authority would more-likely-than-not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. Our policy is to include interest and penalties related to the unrecognized tax benefits within the income tax expense (benefit) line item in our statements of operations. Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenues and expenses recognized during the reporting period. Actual results could differ from these estimates. Significant estimates made by management include depreciation of property, plant and equipment, impairment of property, plant and equipment and assets held for sale, the collectability of accounts receivable and the fair value of the assets acquired and liabilities assumed in connection with acquired in business combinations. 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 all 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 No. 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 adopted this guidance on January 1, 2021 and there has been no material impact 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 December 31, 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. In August 2020, the FASB issued ASU No. 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , to simplify the accounting for convertible instruments by removing certain separation models in Subtopic 470-20, Debt-Debt with Conversion and Other Options, for convertible instruments. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted. We are currently evaluating the impact this guidance will have on our consolidated financial statements.

Sidewinder Merger

Sidewinder Merger	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Sidewinder Merger	Sidewinder Merger We completed the merger with Sidewinder Drilling LLC on October 1, 2018. The results of Sidewinder’s operations have been included in our consolidated financial statements since the acquisition date. Sidewinder's results of operations have been included in ICD’s consolidated financial statements for the period subsequent to the closing of the acquisition on October 1, 2018. Sidewinder contributed revenues of approximately $32.1 million and operating income of approximately $3.3 million for the period from October 1, 2018 through December 31, 2018.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customer	Revenue from Contracts with Customers Effective January 1, 2018, we adopted Accounting Standards Codification (“ASC”) Revenue from Contracts with Customers (“ASC 606”), using the modified retrospective method. This standard applies to all contracts with customers, except for contracts that are within the scope of other standards, such as leases, insurance, collaborative arrangements and financial instruments. Under ASC 606, an entity recognizes revenue when it transfers control of the promised goods or services to its customer, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. If control transfers to the customer over time, an entity selects a method to measure progress that is consistent with the objective of depicting its performance. In determining the appropriate amount of revenue to be recognized as we fulfill our obligations under the agreement, the following steps must be performed at contract inception: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) we satisfy each performance obligation. Drilling Services Our revenues are principally derived from contract drilling services and the activities in our drilling contracts, for which revenues may be earned, include: (i) providing a drilling rig and the crews and supplies necessary to operate the rig; (ii) mobilizing and demobilizing the rig to and from the initial and final drill site, respectively; (iii) certain reimbursable activities; (iv) performing rig modification activities required for the contract; and (v) early termination revenues. We account for these integrated services provided under our drilling contracts as a single performance obligation, satisfied over time, that is comprised of a series of distinct time increments. Consideration for activities that are not distinct within the context of our contracts, and that do not correspond to a distinct time increment within the contract term, are allocated across the single performance obligation and recognized ratably in proportion to the actual services performed over the initial term of the contract. If taxes are required to be collected from customers relating to our drilling services, they are excluded from revenue. Dayrate Drilling Revenue. Our drilling contracts provide that revenue is earned based on a specified rate per day for the activity performed. The majority of revenue earned under daywork contracts is variable, and depends on a rate scale associated with drilling conditions and level of service provided for each fractional-hour time increment over the contract term. Such rates generally include the full operating rate, moving rate, standby rate, and force majeure rate and determination of the rate per time increment is made based on the actual circumstances as they occur. Other variable consideration under these contracts could include reduced revenue related to downtime, delays or moving caps. Mobilization/Demobilization Revenue. We may receive fees (on either a fixed lump-sum or variable dayrate basis) for the mobilization and demobilization of our rigs. These activities are not considered to be distinct within the context of the contract and therefore, the associated revenue is allocated to the overall performance obligation and recognized ratably over the initial term of the related drilling contract. We record a contract liability for mobilization fees received, which is amortized ratably to revenue as services are rendered over the initial term of the related drilling contract. Demobilization fee revenue expected to be received upon contract completion is estimated as part of the overall transaction price at contract inception and recognized in earnings ratably over the initial term of the contract with an offset to an accretive contract asset. In our contracts, there is generally significant uncertainty as to the amount of demobilization fee revenue that may ultimately be collected due to contractual provisions which stipulate that certain conditions be present at contract completion for such revenue to be received. For example, the amount collectible may be reduced to zero if the rig has been contracted with a new customer upon contract completion. Accordingly, the estimate for such revenue may be constrained depending on the facts and circumstances pertaining to the specific contract. We assess the likelihood of receiving such revenue based on past experience and knowledge of the market conditions. Reimbursable Revenue. We receive reimbursements from our customers for the purchase of supplies, equipment and other services provided at their request in accordance with a drilling contract or other agreement. Such reimbursable revenue is variable and subject to uncertainty, as the amounts received and timing thereof is highly dependent on factors outside of our influence. Accordingly, reimbursable revenue is fully constrained and not included in the total transaction price until the uncertainty is resolved, which typically occurs when the related costs are incurred on behalf of a customer. We are generally considered a principal in such transactions and record the associated revenue at the gross amount billed to the customer. Capital Modification Revenue. From time to time, we may receive fees (on either a fixed lump-sum or variable dayrate basis) from our customers for capital improvements to our rigs to meet their requirements. Such revenue is allocated to the overall performance obligation and recognized ratably over the initial term of the related drilling contract, as these activities are not considered to be distinct within the context of our contracts. We record a contract liability for such fees received up front, and recognize them ratably as contract drilling revenue over the initial term of the related drilling contract. Early Termination Revenue. Our contracts provide for early termination fees in the event our customers choose to cancel the contract prior to the specified contract term. We record a contract liability for such fees received up front, and recognize them ratably as contract drilling revenue over the initial term of the related drilling contract or until such time that all performance obligations are satisfied. Intangible Revenue. 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 current market terms for comparable drilling rigs. The various factors considered in the determination are (1) the contracted day rate for each contract, (2) the remaining term of each contract, (3) the rig class and (4) the market conditions for each respective rig at the transaction closing date. The intangible liabilities were computed based on the present value of the differences in cash inflows over the remaining contract term as compared to a hypothetical contract with the same remaining term at an estimated current market day rate using a risk adjusted discount rate. The intangible liabilities were amortized to operating revenues over the remaining underlying contract terms. Disaggregation of Revenue The following table summarizes revenues from our contracts disaggregated by revenue generating activity contained therein for the years ended December 31, 2020, 2019 and 2018: Year Ended December 31, (in thousands) 2020 2019 2018 Dayrate drilling $ 70,976 $ 184,374 $ 133,278 Mobilization 3,256 5,365 2,100 Reimbursables 5,838 11,237 4,970 Early termination 3,348 1,405 — Capital modification — 115 216 Intangible — 1,079 2,044 Other — 27 1 Total revenue $ 83,418 $ 203,602 $ 142,609 Contract Balances Accounts receivable are recognized when the right to consideration becomes unconditional based upon contractual billing schedules. Payment terms on invoiced amounts are typically 30 days. Contract asset balances could consist of demobilization fee revenue that we expect to receive that is recognized ratably throughout the contract term, but invoiced upon completion of the demobilization activities. Once the demobilization fee revenue is invoiced the corresponding contract asset is transferred to accounts receivable. Contract liabilities include payments received for mobilization fees as well as upgrade activities, which are allocated to the overall performance obligation and recognized ratably over the initial term of the contract. The following table provides information about receivables and contract liabilities related to contracts with customers as of December 31, 2020 and 2019, respectively. We had no contract assets in either year. (in thousands) December 31, 2020 December 31, 2019 Receivables, which are included in "Accounts receivable, net" $ 9,772 $ 35,378 Contract liabilities, which are included in "Accrued liabilities - deferred revenue" $ (119) $ (311) Significant changes in the contract liabilities balance during the years ended December 31, 2020 and 2019 are as follows: (in thousands) 2020 2019 Revenue recognized that was included in contract liabilities at beginning of period $ 311 $ 1,374 Increase in contract liabilities due to cash received, excluding amounts recognized as revenue $ (119) $ (311) Transaction Price Allocated to the Remaining Performance Obligations 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 December 31, 2020. The estimated revenue does not include amounts of variable consideration that are constrained. Year Ending December 31, (in thousands) 2021 2022 2023 Total Revenue $ 119 $ — $ — $ 119 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. 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 $0.1 million and $0.1 million on our consolidated balance sheets at December 31, 2020 and December 31, 2019, respectively. During the year ended December 31, 2020, contract costs increased by $2.1 million and we amortized $2.1 million of contract costs. Costs incurred for the demobilization of rigs at contract completion are recognized as incurred during the demobilization process. Costs incurred for rig modifications or upgrades required for a contract, which are considered to be capital improvements, are capitalized as drilling and other property and equipment and depreciated over the estimated useful life of the improvement.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Leases Effective January 1, 2019, we adopted ASC 842. The most significant changes of the standard are (1) lessees recognize a lease liability and a right-of-use (“ROU”) asset for all leases, including operating leases, with an initial term greater than 12 months on their balance sheets and (2) lessees and lessors disclose additional key information about their leasing transactions. We elected to implement ASC 842 using the effective date method which recognizes and measures all leases that exist at the effective date, January 1, 2019, using a modified retrospective transition approach. There was no cumulative-effect adjustment required to be recorded in connection with the adoption of the new standard and the reported amount of lease expense and cash flows are substantially unchanged under ASC 842. Comparative periods are presented in accordance with ASC 840 and do not include any retrospective adjustments. As a Lessor Our daywork drilling contracts, under which the vast majority of our revenues are derived, contain both a lease component and a service component. ASU No. 2018-11 amended ASC 842 to, among other things, provide lessors with a practical expedient to not separate non-lease components from lease components and, instead, to account for those components as a single amount, if the non-lease components otherwise would be accounted for under Topic 606 and both of the following are met: 1) The timing and pattern of transfer of non-lease components and lease components are the same. 2) The lease component, if accounted for separately, would be classified as an operating lease. If the non-lease component is the predominant component of the combined amount, an entity is required to account for the combined amount in accordance with Topic 606. Otherwise, the entity must account for the combined amount as an operating lease in accordance with Topic 842. Revenues from our daywork drilling contracts meet both of the criteria above and we have determined both quantitatively and qualitatively that the service component of our daywork drilling contracts is the predominant component. Accordingly, we combine the lease and service components of our daywork drilling contracts and account for the combined amount under Topic 606. See Note 4 - Revenue from Contracts with Customers . As a Lessee 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 five years. As a practical expedient, a lessee may elect not to apply the recognition requirements in ASC 842 to short-term leases. Instead a lessee may recognize the lease payments in profit or loss on a straight-line basis over the lease term and variable lease payments in the period in which the obligation for those payments is incurred. We elected to utilize this practical expedient. We elected the package of practical expedients permitted in ASC 842. Accordingly, we accounted for our existing capital leases as finance leases under the new guidance, without reassessing whether the contracts contained a lease under ASC 842, whether classification of the capital lease would be different in accordance with ASC 842 and without reassessing any initial costs associated with the lease. As a result, we recognized on January 1, 2019 a lease liability, recorded as current portion of long-term debt and long-term debt on our consolidated balance sheets, at the carrying amount of the capital lease obligation on December 31, 2018, of $1.2 million and a ROU asset, recorded in plant, property and equipment on our consolidated balance sheets, at the carrying amount of the capital lease asset of $1.3 million. Additionally, we accounted for our existing operating leases as operating leases under the new guidance, without reassessing (a) whether the contract contains a lease under ASC 842 or (b) whether classification of the operating lease would be different in accordance with ASC 842. As a result, we recognized on January 1, 2019 a lease liability of $1.7 million, recorded in accrued liabilities and other long-term liabilities on our consolidated balance sheets, which represents the present value of the remaining lease payments discounted using our incremental borrowing rate of 8.17%, and a ROU asset of $0.9 million, recorded in other long-term assets on our consolidated balance sheets, which represents the lease liability of $1.7 million plus any prepaid lease payments, and less any unamortized lease incentives, totaling $0.8 million. On January 1, 2019, the vehicle leases assumed in the Sidewinder Merger were amended to be consistent with our existing vehicle leases, which resulted in a change in the classification from operating leases to finance leases. On the amendment date, we recorded $0.4 million in finance lease obligations and right of use assets. The components of lease expense were as follows: Year Ended Year Ended (in thousands) December 31, 2020 December 31, 2019 Operating lease expense $ 616 $ 524 Short-term lease expense 2,863 4,755 Variable lease expense 382 569 Finance lease cost: Amortization of right-of-use assets $ 1,257 $ 1,163 Interest expense on lease liabilities 806 206 Total finance lease expense 2,063 1,369 Total lease expenses $ 5,924 $ 7,217 Supplemental cash flow information related to leases is as follows: Year Ended Year Ended (in thousands) December 31, 2020 December 31, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 634 $ 509 Operating cash flows from finance leases $ 798 $ 193 Financing cash flows from finance leases $ 4,340 $ 2,980 Right-of-use assets obtained or recorded in exchange for lease obligations: Operating leases $ 1,601 $ 1,427 Finance leases $ 2,648 $ 13,143 Supplemental balance sheet information related to leases is as follows: (in thousands) December 31, 2020 December 31, 2019 Operating leases: Other long-term assets, net $ 2,150 $ 1,033 Accrued liabilities $ 964 $ 475 Other long-term liabilities 1,729 1,250 Total operating lease liabilities $ 2,693 $ 1,725 Finance leases: Property, plant and equipment $ 13,700 $ 14,375 Accumulated depreciation (981) (1,425) Property, plant and equipment, net $ 12,719 $ 12,950 Current portion of long-term debt $ 3,351 $ 3,685 Long-term debt 4,570 7,472 Total finance lease liabilities $ 7,921 $ 11,157 Weighted-average remaining lease term Operating leases 3.2 years 3.6 years Finance leases 2.0 years 2.7 years Weighted-average discount rate Operating leases 8.25 % 8.07 % Finance leases 8.88 % 7.64 % Maturities of lease liabilities at December 31, 2020 were as follows: (in thousands) Operating Leases Finance Leases 2021 $ 1,195 $ 3,892 2022 840 4,275 2023 760 26 2024 372 — 2025 — — Thereafter — — Total cash lease payment 3,167 8,193 Add: expected residual value — 534 Less: imputed interest (474) (806) Total lease liabilities $ 2,693 $ 7,921 Rent expense was $5.1 million for the year ended December 31, 2018.
Leases	Leases Effective January 1, 2019, we adopted ASC 842. The most significant changes of the standard are (1) lessees recognize a lease liability and a right-of-use (“ROU”) asset for all leases, including operating leases, with an initial term greater than 12 months on their balance sheets and (2) lessees and lessors disclose additional key information about their leasing transactions. We elected to implement ASC 842 using the effective date method which recognizes and measures all leases that exist at the effective date, January 1, 2019, using a modified retrospective transition approach. There was no cumulative-effect adjustment required to be recorded in connection with the adoption of the new standard and the reported amount of lease expense and cash flows are substantially unchanged under ASC 842. Comparative periods are presented in accordance with ASC 840 and do not include any retrospective adjustments. As a Lessor Our daywork drilling contracts, under which the vast majority of our revenues are derived, contain both a lease component and a service component. ASU No. 2018-11 amended ASC 842 to, among other things, provide lessors with a practical expedient to not separate non-lease components from lease components and, instead, to account for those components as a single amount, if the non-lease components otherwise would be accounted for under Topic 606 and both of the following are met: 1) The timing and pattern of transfer of non-lease components and lease components are the same. 2) The lease component, if accounted for separately, would be classified as an operating lease. If the non-lease component is the predominant component of the combined amount, an entity is required to account for the combined amount in accordance with Topic 606. Otherwise, the entity must account for the combined amount as an operating lease in accordance with Topic 842. Revenues from our daywork drilling contracts meet both of the criteria above and we have determined both quantitatively and qualitatively that the service component of our daywork drilling contracts is the predominant component. Accordingly, we combine the lease and service components of our daywork drilling contracts and account for the combined amount under Topic 606. See Note 4 - Revenue from Contracts with Customers . As a Lessee 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 five years. As a practical expedient, a lessee may elect not to apply the recognition requirements in ASC 842 to short-term leases. Instead a lessee may recognize the lease payments in profit or loss on a straight-line basis over the lease term and variable lease payments in the period in which the obligation for those payments is incurred. We elected to utilize this practical expedient. We elected the package of practical expedients permitted in ASC 842. Accordingly, we accounted for our existing capital leases as finance leases under the new guidance, without reassessing whether the contracts contained a lease under ASC 842, whether classification of the capital lease would be different in accordance with ASC 842 and without reassessing any initial costs associated with the lease. As a result, we recognized on January 1, 2019 a lease liability, recorded as current portion of long-term debt and long-term debt on our consolidated balance sheets, at the carrying amount of the capital lease obligation on December 31, 2018, of $1.2 million and a ROU asset, recorded in plant, property and equipment on our consolidated balance sheets, at the carrying amount of the capital lease asset of $1.3 million. Additionally, we accounted for our existing operating leases as operating leases under the new guidance, without reassessing (a) whether the contract contains a lease under ASC 842 or (b) whether classification of the operating lease would be different in accordance with ASC 842. As a result, we recognized on January 1, 2019 a lease liability of $1.7 million, recorded in accrued liabilities and other long-term liabilities on our consolidated balance sheets, which represents the present value of the remaining lease payments discounted using our incremental borrowing rate of 8.17%, and a ROU asset of $0.9 million, recorded in other long-term assets on our consolidated balance sheets, which represents the lease liability of $1.7 million plus any prepaid lease payments, and less any unamortized lease incentives, totaling $0.8 million. On January 1, 2019, the vehicle leases assumed in the Sidewinder Merger were amended to be consistent with our existing vehicle leases, which resulted in a change in the classification from operating leases to finance leases. On the amendment date, we recorded $0.4 million in finance lease obligations and right of use assets. The components of lease expense were as follows: Year Ended Year Ended (in thousands) December 31, 2020 December 31, 2019 Operating lease expense $ 616 $ 524 Short-term lease expense 2,863 4,755 Variable lease expense 382 569 Finance lease cost: Amortization of right-of-use assets $ 1,257 $ 1,163 Interest expense on lease liabilities 806 206 Total finance lease expense 2,063 1,369 Total lease expenses $ 5,924 $ 7,217 Supplemental cash flow information related to leases is as follows: Year Ended Year Ended (in thousands) December 31, 2020 December 31, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 634 $ 509 Operating cash flows from finance leases $ 798 $ 193 Financing cash flows from finance leases $ 4,340 $ 2,980 Right-of-use assets obtained or recorded in exchange for lease obligations: Operating leases $ 1,601 $ 1,427 Finance leases $ 2,648 $ 13,143 Supplemental balance sheet information related to leases is as follows: (in thousands) December 31, 2020 December 31, 2019 Operating leases: Other long-term assets, net $ 2,150 $ 1,033 Accrued liabilities $ 964 $ 475 Other long-term liabilities 1,729 1,250 Total operating lease liabilities $ 2,693 $ 1,725 Finance leases: Property, plant and equipment $ 13,700 $ 14,375 Accumulated depreciation (981) (1,425) Property, plant and equipment, net $ 12,719 $ 12,950 Current portion of long-term debt $ 3,351 $ 3,685 Long-term debt 4,570 7,472 Total finance lease liabilities $ 7,921 $ 11,157 Weighted-average remaining lease term Operating leases 3.2 years 3.6 years Finance leases 2.0 years 2.7 years Weighted-average discount rate Operating leases 8.25 % 8.07 % Finance leases 8.88 % 7.64 % Maturities of lease liabilities at December 31, 2020 were as follows: (in thousands) Operating Leases Finance Leases 2021 $ 1,195 $ 3,892 2022 840 4,275 2023 760 26 2024 372 — 2025 — — Thereafter — — Total cash lease payment 3,167 8,193 Add: expected residual value — 534 Less: imputed interest (474) (806) Total lease liabilities $ 2,693 $ 7,921 Rent expense was $5.1 million for the year ended December 31, 2018.
Leases	Leases Effective January 1, 2019, we adopted ASC 842. The most significant changes of the standard are (1) lessees recognize a lease liability and a right-of-use (“ROU”) asset for all leases, including operating leases, with an initial term greater than 12 months on their balance sheets and (2) lessees and lessors disclose additional key information about their leasing transactions. We elected to implement ASC 842 using the effective date method which recognizes and measures all leases that exist at the effective date, January 1, 2019, using a modified retrospective transition approach. There was no cumulative-effect adjustment required to be recorded in connection with the adoption of the new standard and the reported amount of lease expense and cash flows are substantially unchanged under ASC 842. Comparative periods are presented in accordance with ASC 840 and do not include any retrospective adjustments. As a Lessor Our daywork drilling contracts, under which the vast majority of our revenues are derived, contain both a lease component and a service component. ASU No. 2018-11 amended ASC 842 to, among other things, provide lessors with a practical expedient to not separate non-lease components from lease components and, instead, to account for those components as a single amount, if the non-lease components otherwise would be accounted for under Topic 606 and both of the following are met: 1) The timing and pattern of transfer of non-lease components and lease components are the same. 2) The lease component, if accounted for separately, would be classified as an operating lease. If the non-lease component is the predominant component of the combined amount, an entity is required to account for the combined amount in accordance with Topic 606. Otherwise, the entity must account for the combined amount as an operating lease in accordance with Topic 842. Revenues from our daywork drilling contracts meet both of the criteria above and we have determined both quantitatively and qualitatively that the service component of our daywork drilling contracts is the predominant component. Accordingly, we combine the lease and service components of our daywork drilling contracts and account for the combined amount under Topic 606. See Note 4 - Revenue from Contracts with Customers . As a Lessee 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 five years. As a practical expedient, a lessee may elect not to apply the recognition requirements in ASC 842 to short-term leases. Instead a lessee may recognize the lease payments in profit or loss on a straight-line basis over the lease term and variable lease payments in the period in which the obligation for those payments is incurred. We elected to utilize this practical expedient. We elected the package of practical expedients permitted in ASC 842. Accordingly, we accounted for our existing capital leases as finance leases under the new guidance, without reassessing whether the contracts contained a lease under ASC 842, whether classification of the capital lease would be different in accordance with ASC 842 and without reassessing any initial costs associated with the lease. As a result, we recognized on January 1, 2019 a lease liability, recorded as current portion of long-term debt and long-term debt on our consolidated balance sheets, at the carrying amount of the capital lease obligation on December 31, 2018, of $1.2 million and a ROU asset, recorded in plant, property and equipment on our consolidated balance sheets, at the carrying amount of the capital lease asset of $1.3 million. Additionally, we accounted for our existing operating leases as operating leases under the new guidance, without reassessing (a) whether the contract contains a lease under ASC 842 or (b) whether classification of the operating lease would be different in accordance with ASC 842. As a result, we recognized on January 1, 2019 a lease liability of $1.7 million, recorded in accrued liabilities and other long-term liabilities on our consolidated balance sheets, which represents the present value of the remaining lease payments discounted using our incremental borrowing rate of 8.17%, and a ROU asset of $0.9 million, recorded in other long-term assets on our consolidated balance sheets, which represents the lease liability of $1.7 million plus any prepaid lease payments, and less any unamortized lease incentives, totaling $0.8 million. On January 1, 2019, the vehicle leases assumed in the Sidewinder Merger were amended to be consistent with our existing vehicle leases, which resulted in a change in the classification from operating leases to finance leases. On the amendment date, we recorded $0.4 million in finance lease obligations and right of use assets. The components of lease expense were as follows: Year Ended Year Ended (in thousands) December 31, 2020 December 31, 2019 Operating lease expense $ 616 $ 524 Short-term lease expense 2,863 4,755 Variable lease expense 382 569 Finance lease cost: Amortization of right-of-use assets $ 1,257 $ 1,163 Interest expense on lease liabilities 806 206 Total finance lease expense 2,063 1,369 Total lease expenses $ 5,924 $ 7,217 Supplemental cash flow information related to leases is as follows: Year Ended Year Ended (in thousands) December 31, 2020 December 31, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 634 $ 509 Operating cash flows from finance leases $ 798 $ 193 Financing cash flows from finance leases $ 4,340 $ 2,980 Right-of-use assets obtained or recorded in exchange for lease obligations: Operating leases $ 1,601 $ 1,427 Finance leases $ 2,648 $ 13,143 Supplemental balance sheet information related to leases is as follows: (in thousands) December 31, 2020 December 31, 2019 Operating leases: Other long-term assets, net $ 2,150 $ 1,033 Accrued liabilities $ 964 $ 475 Other long-term liabilities 1,729 1,250 Total operating lease liabilities $ 2,693 $ 1,725 Finance leases: Property, plant and equipment $ 13,700 $ 14,375 Accumulated depreciation (981) (1,425) Property, plant and equipment, net $ 12,719 $ 12,950 Current portion of long-term debt $ 3,351 $ 3,685 Long-term debt 4,570 7,472 Total finance lease liabilities $ 7,921 $ 11,157 Weighted-average remaining lease term Operating leases 3.2 years 3.6 years Finance leases 2.0 years 2.7 years Weighted-average discount rate Operating leases 8.25 % 8.07 % Finance leases 8.88 % 7.64 % Maturities of lease liabilities at December 31, 2020 were as follows: (in thousands) Operating Leases Finance Leases 2021 $ 1,195 $ 3,892 2022 840 4,275 2023 760 26 2024 372 — 2025 — — Thereafter — — Total cash lease payment 3,167 8,193 Add: expected residual value — 534 Less: imputed interest (474) (806) Total lease liabilities $ 2,693 $ 7,921 Rent expense was $5.1 million for the year ended December 31, 2018.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: December 31, (in thousands) 2020 2019 Rig components and supplies $ 1,038 $ 2,325 We determined that no reserve for obsolescence was needed at December 31, 2020 or 2019. No inventory obsolescence expense was recognized during the years ended December 31, 2020, 2019 and 2018.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Major classes of property, plant, and equipment, which include finance lease assets, consisted of the following (in millions): December 31, (in thousands) 2020 2019 Land $ 487 $ 487 Buildings 3,189 3,408 Drilling rigs and related equipment 525,933 568,675 Machinery, equipment and other 1,576 1,396 Finance leases 13,700 14,375 Vehicles 17 355 Construction in progress 19,876 22,260 Total $ 564,778 $ 610,956 Less: Accumulated depreciation (182,539) (153,426) Total Property, plant and equipment, net $ 382,239 $ 457,530 Repairs and maintenance expense included in operating costs in our statements of operations totaled $9.7 million, $27.2 million and $19.7 million for the years ended December 31, 2020, 2019 and 2018, respectively. Depreciation expense was $43.9 million, $45.4 million and $30.9 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Supplemental Consolidated Balan

Supplemental Consolidated Balance Sheet and Cash Flow Information	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Supplemental Consolidated Balance Sheet and Cash Flow Information	Supplemental Consolidated Balance Sheet and Cash Flow Information Prepaid expenses and other current assets consisted of the following: December 31, (in thousands) 2020 2019 Prepaid insurance $ 3,346 $ 2,450 Prepaid other 636 829 Deferred mobilization costs 89 112 Notes receivable — 145 Insurance claim receivable 27 27 Other current assets 4 1,077 $ 4,102 $ 4,640 Accrued liabilities consisted of the following: December 31, (in thousands) 2020 2019 Accrued salaries and other compensation $ 1,472 $ 3,500 Insurance 2,127 2,861 Deferred revenue 119 701 Property taxes and other 2,166 4,716 Interest 3,573 3,244 Operating lease liability - current 964 475 Other 302 871 $ 10,723 $ 16,368 Supplemental consolidated cash flow information: Year Ended December 31, (in thousands) 2020 2019 2018 Supplemental disclosure of cash flow information Cash paid during the year for interest $ 13,309 $ 13,974 $ 3,202 Supplemental disclosure of non-cash investing and financing activities Change in property, plant and equipment purchases in accounts payable $ (7,201) $ 1,607 $ 1,175 Additions to property, plant & equipment through finance and capital leases $ 2,650 $ 13,143 $ 601 Transfer of assets from held and used to held for sale $ — $ (18,506) $ — Transfer from inventory to fixed assets $ — $ (406) $ — Extinguishment of finance lease obligations from sale of assets classified as finance leases $ (1,549) $ (249) $ — Additions to property, plant and equipment through tenant allowance on leasehold improvement $ — $ — $ 694 Sidewinder Merger consideration $ — $ — $ 231,617

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Our Long-term Debt consisted of the following: December 31, (in thousands) 2020 2019 Term Loan Facility due October 1, 2023 $ 130,000 $ 130,000 Revolving Credit Facility due October 1, 2023 8 — PPP Loan 10,000 — Finance lease obligations 7,921 11,157 147,929 141,157 Less: current portion of PPP Loan (4,286) — Less: current portion of finance leases (3,351) (3,685) Less: Term Loan Facility deferred financing costs (2,659) (2,531) Long-term debt $ 137,633 $ 134,941 Presented below is a schedule of the principal repayment requirements of long-term debt by fiscal year as of December 31, 2020: (in thousands) 2021 2022 2023 Thereafter Total Term Loan Facility $ — $ — $ 130,000 $ — $ 130,000 PPP Loan 4,286 5,714 — — 10,000 Total $ 4,286 $ 5,714 $ 130,000 $ — $ 140,000 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 December 31, 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 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 financial covenants as of December 31, 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 December 31, 2020, the weighted-average interest rate on our borrowings was 9.00%. At December 31, 2020, the borrowing base under our ABL Credit Facility was $7.7 million, and we had $7.5 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.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of the income tax expense are as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Current: Federal $ — $ — $ — State — — — $ — $ — $ — Deferred: Federal $ — $ — $ — State (147) (122) 91 Income tax (benefit) expense $ (147) $ (122) $ 91 The effective tax rate (as a percentage of net loss before income taxes) is reconciled to the U.S. federal statutory rate as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Income tax benefit at the statutory federal rate (21%) $ (20,285) $ (12,791) $ (4,233) Nondeductible expenses 103 360 (270) Valuation allowance 19,800 12,626 3,625 State taxes, net of federal benefit (116) (396) 14 Stock-based compensation and other 351 79 955 Income tax (benefit) expense $ (147) $ (122) $ 91 Effective tax rate 0.2 % 0.2 % 0.5 % Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities are as follows: December 31, (in thousands) 2020 2019 Deferred income tax assets Merger-related expenses $ 836 $ 836 Bad debts 119 115 Stock-based compensation 1,168 1,136 Accrued liabilities and other 49 285 Deferred revenue 28 164 Interest limitation 3,298 555 ROU Asset (1) 507 404 Net operating losses 65,635 46,975 Total net deferred tax assets $ 71,640 $ 50,470 Deferred income tax liabilities Prepaids $ (769) $ (563) Property, plant and equipment (20,159) (21,347) Intangible assets (231) (124) ROU Liability (1) (628) (242) Other (194) — Total net deferred tax liabilities $ (21,981) $ (22,276) Valuation allowance $ (50,164) $ (28,846) Net deferred tax liability $ (505) $ (652) (1) Certain prior year amounts have been reclassified for consistency with the current year presentation. A reclass has been made to identify the ROU Asset and ROU Liability within the Income Tax footnote. This reclassification had no effect on the reported results of operations. As of December 31, 2020, we had a total of $303.6 million of net operating loss carryforwards, of which $131.4 million will begin to expire in 2031 and $172.2 million will be carried forward indefinitely. Section 382 of the Internal Revenue Code (“Section 382”) imposes limitations on a corporation’s ability to utilize its NOLs if it experiences an ownership change. In general terms, an ownership change may result from transactions increasing the ownership percentage of certain shareholders in the stock of the corporation by more than 50 percentage points over a three year period. In the event of an ownership change, utilization of the NOLs would be subject to an annual limitation under Section 382. We believe we had an ownership change in April 2016 and October 2018 in connection with the Sidewinder Merger. We are subject to an annual limitation on the usage of our NOL, however, we also believe that substantially all of the NOL that existed in April 2016, as well as October 2018 at the time of the Sidewinder Merger, will be fully available to us over the life of the NOL carryforward period. Management will continue to monitor the potential impact of Section 382 with respect to our NOL carryforward. Accounting for uncertainty in income taxes prescribes a recognition threshold and measurement methodology for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As of December 31, 2020, we had no unrecognized tax benefits. We file income tax returns in the United States and in various state jurisdictions. With few exceptions, we are subject to United States federal, state and local income tax examinations by tax authorities for tax periods 2012 and forward. Our federal and state tax returns for 2012 and subsequent years remain subject to examination by tax authorities. Although we cannot predict the outcome of future tax examinations, we do not anticipate that the ultimate resolution of these examinations will have a material impact on our financial position, results of operations, or cash flows. In assessing the realizability of the deferred tax assets, we consider whether it is more likely than not that some or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future income in periods in which the deferred tax assets can be utilized. In all years presented, we determined that the deferred tax assets did not meet the more likely than not threshold of being utilized and thus recorded a valuation allowance. All of our deferred tax liability as of December 31, 2020 relates to state taxes. Estimated interest and penalties related to potential underpayment on any unrecognized tax benefits are classified as a component of tax expense in the consolidated statement of operations. We have not recorded any interest or penalties associated with unrecognized tax benefits.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 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. In connection with the adoption of the 2019 Plan, no further awards will be made under the 2012 Plan. As of December 31, 2020, approximately 105,055 shares were available for future awards. 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: Year Ended December 31, (in thousands) 2020 2019 2018 Compensation cost recognized: Stock options $ — $ — $ — Restricted stock and restricted stock units 1,979 1,871 4,829 Total stock-based compensation $ 1,979 $ 1,871 $ 4,829 Stock Options Prior to 2016, we granted stock options that remain outstanding. No options were exercised or granted during the years ended December 31, 2020, 2019 or 2018. It is our policy that in the future any shares issued upon option exercise will be issued initially from any available treasury shares or otherwise as newly issued shares. 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. The following summary reflects the stock option activity and related information for the year ended December 31, 2020: Options Weighted Outstanding at January 1, 2020 33,458 $ 254.80 Granted — — Exercised — — Forfeited/expired — — Outstanding at December 31, 2020 33,458 $ 254.80 Exercisable at December 31, 2020 33,458 $ 254.80 The number of options exercisable at December 31, 2020 was 33,458 with a weighted-average remaining contractual life of 1.3 years and a weighted-average exercise price of $254.80 per share. As of December 31, 2020, there was no unrecognized compensation cost related to outstanding stock options. No options vested during the years ended December 31, 2020, 2019 and 2018. 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 the 2019 plan. Time-Based Restricted Stock Time-based restricted stock awards consist of grants of our common stock that vest over three 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 year ended December 31, 2020, 2019 and 2018 is as follows: Shares Weighted Outstanding at January 1, 2018 — $ — Granted – Former Sidewinder executives (1) 32,331 64.40 Granted - Other 36,964 64.40 Vested — — Forfeited/expired — — Outstanding at January 1, 2019 69,295 64.40 Granted — — Vested — — Forfeited/expired (6,478) 64.40 Outstanding at January 1, 2020 62,817 64.40 Granted — — Vested (16,767) 64.40 Forfeited/expired (5,716) 64.40 Outstanding at December 31, 2020 40,334 $ 64.40 (1) Time-based restricted stock unit awards granted to former executives of Sidewinder Drilling, LLC relating to their becoming officers of ICD following the Sidewinder Merger. Time-Based Restricted Stock Units We have granted three-year time-based 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 December 31, 2020, there was $1.0 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 0.7 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 year ended December 31, 2020, 2019 and 2018 is as follows: Shares Weighted Outstanding at January 1, 2018 39,449 $ 101.00 Granted – Former Sidewinder executives (1) 20,479 95.80 Granted - Other 20,726 89.20 Vested and converted (51,020) 98.20 Forfeited/expired (9,155) 90.00 Outstanding at January 1, 2019 20,479 95.80 Granted 28,244 38.80 Vested and converted (2,737) 94.20 Forfeited/expired (1,547) 94.20 Outstanding at January 1, 2020 44,439 59.71 Granted 64,914 12.96 Vested and converted (26,490) 54.97 Forfeited/expired (18,966) 30.75 Outstanding at December 31, 2020 63,897 $ 22.78 (1) Time-based restricted stock granted to former executives of Sidewinder Drilling, LLC relating to their becoming officers of ICD following the Sidewinder Merger. 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, over a three-year period. 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 December 31, 2020, unrecognized compensation cost related to unvested performance-based and market-based restricted stock unit awards totaled $0.3 million, which is expected to be recognized over a weighted-average period of 0.9 years. The assumptions used to value our TSR market-based restricted stock unit awards granted during the year ended December 31, 2018 were a risk-free interest rate of 2.13%, an expected volatility of 60.6% and an expected dividend yield of 0.0%. Based on the Monte Carlo simulation, these restricted stock unit awards were valued at $104.60. The assumptions used to value our TSR market-based restricted stock unit awards granted during the year ended December 31, 2019 were a risk-free interest rate of 1.86%, an expected volatility of 58.2% and an expected dividend yield of 0.0%. Based on the Monte Carlo simulation, these restricted stock unit awards were valued at $29.00. The assumptions used to value our TSR market-based restricted stock unit awards granted during the year ended December 31, 2020 were a risk-free interest rate of 1.38%, an expected volatility of 68.5% and an expected dividend yield of 0.0%. Based on the Monte Carlo simulation, these restricted stock unit awards were valued at $12.42. 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 year ended December 31, 2020, 2019 and 2018 is as follows: Shares Weighted Outstanding at January 1, 2018 10,215 $ 107.00 Granted 11,326 94.40 Vested and converted (8,147) 100.80 Forfeited/expired (13,394) 100.00 Outstanding at January 1, 2019 — — Granted 23,480 33.90 Vested and converted — — Forfeited/expired — — Outstanding at January 1, 2020 23,480 33.90 Granted 24,854 12.42 Vested and converted (1,260) 30.89 Forfeited/expired (8,515) 21.24 Outstanding at December 31, 2020 38,559 $ 22.95

Stockholders' Equity and Loss p

Stockholders' Equity and Loss per Share	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Stockholders' Equity and Loss per Share	Stockholders’ Equity and Loss per Share As of December 31, 2020, we had a total of 6,175,818 shares of common stock, $0.01 par value, outstanding, including 40,334 shares of restricted stock. We also had 78,578 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: For the Years Ended December 31, (in thousands, except for per share data) 2020 2019 2018 Net loss (numerator) $ (96,638) $ (60,788) $ (19,993) Loss per share: Basic and diluted (1) $ (19.69) $ (16.11) $ (8.40) Shares (denominator): Weighted-average number of shares outstanding-basic (1) 4,907 3,774 2,379 Net effect of dilutive stock options and restricted stock units — — — Weighted-average common shares outstanding-diluted (1) 4,907 3,774 2,379 (1) Prior period results have been adjusted to reflect the 1-for-20 reverse stock split that took place in February 2020. See Reverse Stock Split in Note 1 -Nature of Operations and Recent Developments. For all years presented, the computation of diluted loss per share excludes the effect of certain outstanding stock options and restricted stock units because their inclusion would be anti-dilutive. The number of options that were excluded from diluted loss per share were 33,458, 33,458 and 33,458 during the years ended December 31, 2020, 2019 and 2018, respectively. RSUs, which are not participating securities and are excluded from our diluted loss per share because they are anti-dilutive were 102,456, 44,447 and 20,480 for the years ended December 31, 2020, 2019 and 2018, respectively.

Segment and Geographical Inform

Segment and Geographical Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment and Geographical Information	Segment and Geographical InformationWe report one segment because all of our drilling operations are all located in the United States and have similar economic characteristics. We build rigs and engage in land contract drilling for oil and natural gas in the United States. 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. Allocation of capital resources is employed on a project-by-project basis across our entire asset base to maximize profitability without regard to individual areas.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments As of December 31, 2020, we had outstanding purchase commitments to a number of suppliers totaling $0.6 million related primarily to rig equipment or components ordered but not received. We have paid deposits of $0.2 million related to these commitments. Letters of Credit As of December 31, 2020, we had outstanding letters of credit totaling $0.2 million as collateral for Sidewinder’s pre-acquisition insurance programs. As of December 31, 2020, no amounts had been drawn under these letters of credit. Employment Agreements We have entered into employment agreements with six key executives, with original terms of three years, that automatically extend a year prior to expiration, provided that neither party has provided a written notice of termination before that date. These agreements in aggregate provide for minimum annual cash compensation of $1.7 million and cash severance payments totaling $4.4 million for termination by ICD without cause, or termination by the employee for good reason, both as defined in the agreements. Contingencies Our operations inherently expose us to various liabilities and exposures that could result in third party lawsuits, claims and other causes of action. While we insure against the risk of these proceedings to the extent deemed prudent by our management, we can offer no assurance that the type or value of this insurance will meet the liabilities that may arise from any pending or future legal proceedings related to our business activities. There are no current legal proceedings that we expect will have a material adverse impact on our consolidated financial statements.

Concentration of Market and Cre

Concentration of Market and Credit Risk	12 Months Ended
	Dec. 31, 2020
Risks and Uncertainties [Abstract]
Concentration of Market and Credit Risk	Concentration of Market and Credit Risk We derive all our revenues from drilling services contracts with companies in the oil and natural gas exploration and production industry, a historically cyclical industry with levels of activity that are significantly affected by the levels and volatility in oil and natural gas prices. We have a number of customers that account for 10% or more of our revenues. For 2020, these customers included Diamondback Energy, Inc. (16%), BPX Operating Company (15%), GeoSouthern Energy Corporation (12%) and Indigo Minerals, LLC (12%). For 2019, these customers included Diamondback Energy, Inc. (17%), GeoSouthern Energy Corporation (15%) and COG Operating, LLC, a subsidiary of Concho Resources, Inc. (14%). For 2018, these customers included GeoSouthern Energy Corporation (23%) and COG Operating, LLC, a subsidiary of Concho Resources, Inc. (22%). Our trade receivables are with a variety of E&P and other oilfield service companies. We perform ongoing credit evaluations of our customers, and we generally do not require collateral. We do occasionally require deposits from customers whose creditworthiness is in question prior to providing services to them. As of December 31, 2020, BPX Operating Company (26%), Indigo Minerals, LLC (25%), GeoSouthern Energy Corporation (13%) and Triple Crown Resources, LLC (10%) accounted for 10% or more of our accounts receivable. As of December 31, 2019, Diamondback Energy, Inc. (21%) and GeoSouthern Energy Corporation (14%) accounted for 10% or more of our accounts receivable. As of December 31, 2018, COG Operating, LLC, a subsidiary of Concho Resources, Inc. (21%), Diamondback Energy, Inc. (14%), GeoSouthern Energy Corporation (14%) and BP p.l.c (10%) accounted for 10% or more of our accounts receivable. We have concentrated credit risk for cash by maintaining deposits in major banks, which may at times exceed amounts covered by insurance provided by the United States Federal Deposit Insurance Corporation (“FDIC”). We monitor the financial health of the banks and have not experienced any losses in such accounts and believe we are not exposed to any significant credit risk. As of December 31, 2020, we had approximately $11.8 million in cash and cash equivalents in excess of FDIC limits.

Related Parties and Other Matte

Related Parties and Other Matters	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Parties and Other Matters	Related Parties and Other MattersIn 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 $12.0 million during the year ended December 31, 2020. Additionally, we have recorded merger consideration payable to an affiliate of $2.9 million plus accrued interest of $0.3 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. We are contractually obligated to make this payment to MSD, the unitholders’ representative, by the earlier of (i) June 30, 2022 and (ii) a Change of Control Transaction.

Unaudited Quarterly Financial D

Unaudited Quarterly Financial Data	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Unaudited Quarterly Financial Data	Unaudited Quarterly Financial Data A summary of our unaudited quarterly financial data is as follows: Year Ended December 31, 2020 Quarter Ended (in thousands, except for per share data) March 31 June 30 September 30 December 31 Revenue $ 38,494 $ 21,381 $ 10,224 $ 13,319 Operating loss (24,661) (6,477) (11,676) (39,344) Income tax (benefit) expense (42) (11) (31) (63) Net loss (28,223) (10,120) (15,199) (43,096) Loss per share: Basic and diluted $ (7.53) $ (2.52) $ (2.67) $ (7.02) Year Ended December 31, 2019 Quarter Ended (in thousands, except for per share data) March 31 June 30 September 30 December 31 Revenue $ 60,358 $ 52,879 $ 45,073 $ 45,292 Operating loss (1,152) (6,368) (6,755) (32,220) Income tax (benefit) expense (2,540) 2,898 232 (712) Net loss (2,373) (12,858) (10,547) (35,010) Loss per share: Basic and diluted (1) $ (0.63) $ (3.4) $ (2.80) $ (9.32) (1) Prior period results have been adjusted to reflect the 1-for-20 reverse stock split that took place in February 2020. See Reverse Stock Split in Note 1 -Nature of Operations and Recent Developments.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (in thousands) Balance at Beginning of Period Charged to Costs and Expenses Deductions Other (1) Balance at End of Period Year Ended December 31, 2020: Allowance for doubtful accounts $ 502 $ 16 $ — $ — $ 518 Valuation allowance for deferred tax assets $ 28,846 $ 21,318 $ — $ 50,164 Year Ended December 31, 2019: Allowance for doubtful accounts $ — $ 502 $ — $ — $ 502 Valuation allowance for deferred tax assets $ 16,022 $ 12,626 $ — $ 198 $ 28,846 Year Ended December 31, 2018: Allowance for doubtful accounts $ 8 $ 22 $ (30) $ — $ — Valuation allowance for deferred tax assets $ 12,396 $ 3,626 $ — $ — $ 16,022 (1) Amount comprised principally of purchase accounting adjustments in connection with the Sidewinder Merger.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These audited consolidated financial statements include all the accounts of ICD and its subsidiary. All significant intercompany accounts and transactions have been eliminated. Except for the subsidiary, we have no controlling financial interests in any other entity which would require consolidation. These audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). As we had no items of other comprehensive income in any period presented, no other comprehensive income is presented.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider short-term, highly liquid investments that have an original maturity of three months or less to be cash equivalents.
Accounts Receivables	Accounts ReceivableAccounts receivable is comprised primarily of amounts due from our customers for contract drilling services. Accounts receivable are reduced to reflect estimated realizable values by an allowance for doubtful accounts based on historical collection experience and specific review of current individual accounts. Receivables are written off when they are deemed to be uncollectible.
Inventories	Inventories Inventory is stated at lower of cost or net realizable value and consists primarily of supplies held for use in our drilling operations. Cost is determined on an average cost basis.
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment, including renewals and betterments, are stated at cost less accumulated depreciation. All property, plant and equipment are depreciated using the straight-line method based on the estimated useful lives of the assets. The cost of maintenance and repairs are expensed as incurred. Major overhauls and upgrades are capitalized and depreciated over their remaining useful life. Depreciation of property, plant and equipment is recorded based on the estimated useful lives of the assets as follows: Estimated Useful Life Buildings 20 - 39 years Drilling rigs and related equipment 3 - 20 years Machinery, equipment and other 3 - 7 years Vehicles 2 - 5 years Our operations are managed from field locations that we own or lease, that contain office, shop and yard space to support day-to-day operations, including repair and maintenance of equipment, as well as storage of equipment, materials and supplies. We currently have six such field locations. Additionally, we lease office space for our corporate headquarters in northwest Houston. Leases are evaluated at inception or at any subsequent material modification to determine if the lease should be classified as a finance or operating lease. We review our assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets that are held and used is measured by comparison of the estimated future undiscounted cash flows associated with the asset to the carrying amount of the asset. If the carrying value of such assets is less than the estimated undiscounted cash flow, an impairment charge is recorded in the amount by which the carrying amount of the assets exceeds their estimated fair value. For further discussion, see Asset Impairments in Note 1 -Nature of Operations and Recent Developments. Construction in progress represents the costs incurred for drilling rigs and rig upgrades under construction at the end of the period. This includes third party costs relating to the purchase of rig components as well as labor, material and other identifiable direct and indirect costs associated with the construction of the rig.
Property, Plant and Equipment, Impairment	We review our assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets that are held and used is measured by comparison of the estimated future undiscounted cash flows associated with the asset to the carrying amount of the asset. If the carrying value of such assets is less than the estimated undiscounted cash flow, an impairment charge is recorded in the amount by which the carrying amount of the assets exceeds their estimated fair value.
Capitalized Interest	Capitalized InterestWe capitalize interest costs related to rig construction projects. Interest costs are capitalized during the construction period based on the weighted-average interest rate of the related debt.
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; 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.
Goodwill	Goodwill Goodwill was recorded by the Company in connection with the Sidewinder Merger on October 1, 2018 and represented the excess of the purchase price over the fair value of the assets acquired, net of liabilities assumed. Goodwill is not amortized, but rather tested and assessed for impairment annually in the third quarter of each year, or more frequently if certain events or changes in circumstance indicate that the carrying amount may exceed fair value. We elected to early adopt ASU No. 2017-04, Intangibles - Goodwill and Other.
Intangible Liabilities	Intangible Liabilities 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. $1.1 million of intangible revenue was recognized in 2019 as a result of this amortization and the intangible liabilities were fully amortized.
Revenue and Cost Recognition	Revenue and Cost Recognition We earn contract drilling revenues pursuant to drilling contracts entered into with our customers. We perform drilling services on a “daywork” basis, under which we charge a specified rate per day, or “dayrate.” The dayrate associated with each of our contracts is a negotiated price determined by the capabilities of the rig, location, depth and complexity of the wells to be drilled, operating conditions, duration of the contract and market conditions. The term of land drilling contracts may be for a defined number of wells or for a fixed time period. We generally receive lump-sum payments for the mobilization of rigs and other drilling equipment at the commencement of a new drilling contract. Revenue and costs associated with the initial mobilization are deferred and recognized ratably over the term of the related drilling contract once the rig spuds. Costs incurred to relocate rigs and other equipment to an area in which a contract has not been secured are expensed as incurred. Our contracts provide for early termination fees in the event our customers choose to cancel the contract prior to the specified contract term. We record a contract liability for such fees received up front, and recognize them ratably as contract drilling revenue over the initial term of the related drilling contract or until such time that all performance obligations are satisfied. While under contract, our rigs generally earn a reduced rate while the rig is moving between wells or drilling locations, or on standby waiting for the customer. Reimbursements for the purchase of supplies, equipment, trucking and other services that are provided at the request of our customers are recorded as revenue when incurred. The related costs are recorded as operating expenses when incurred. Revenue is presented net of any sales tax charged to the customer that we are required to remit to local or state governmental taxing authorities. Our operating costs include all expenses associated with operating and maintaining our drilling rigs. Operating costs include all “rig level” expenses such as labor and related payroll costs, repair and maintenance expenses, supplies, workers'
Leases	Leases In February 2016, the FASB issued ASU No. 2016-02, Leases, to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. Under the new guidance, lessees are required to recognize (with the exception of leases with terms of 12 months or less) at the commencement date, a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. In July 2018, the FASB issued ASU No. 2018-11, Leases: Targeted Improvements, which provides an option to apply the guidance prospectively, and provides a practical expedient allowing lessors to combine the lease and non-lease components of revenues where the revenue recognition pattern is the same and where the lease component, when accounted for separately, would be considered an operating lease. The practical expedient also allows a lessor to account for the combined lease and non-lease components under ASC Topic 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined components. We adopted ASU No. 2016-02 and its related amendments (collectively known as ASC 842) effective on January 1, 2019, using the effective date method.
Stock-Based Compensation	Stock-Based Compensation We record compensation expense over the requisite service period for all stock-based compensation based on the grant date fair value of the award. The expense is included in selling, general and administrative expense in our statements of operations or capitalized in connection with rig construction activity.
Income Taxes	Income Taxes We use the asset and liability method of accounting for income taxes. Under this method, we record deferred income taxes based upon differences between the financial reporting basis and tax basis of assets and liabilities, and use enacted tax rates and laws that we expect will be in effect when we realize those assets or settle those liabilities. We review deferred tax assets for a valuation allowance based upon management’s estimates of whether it is more likely than not that a portion of the deferred tax asset will be fully realized in a future period. We recognize the financial statement benefit of a tax position only after determining that the relevant taxing authority would more-likely-than-not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. Our policy is to include interest and penalties related to the unrecognized tax benefits within the income tax expense (benefit) line item in our statements of operations.
Use of Estimates	Use of EstimatesThe preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenues and expenses recognized during the reporting period. Actual results could differ from these estimates. Significant estimates made by management include depreciation of property, plant and equipment, impairment of property, plant and equipment and assets held for sale, the collectability of accounts receivable and the fair value of the assets acquired and liabilities assumed in connection with acquired in business combinations.
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 all 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 No. 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 adopted this guidance on January 1, 2021 and there has been no material impact 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 December 31, 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. In August 2020, the FASB issued ASU No. 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity , to simplify the accounting for convertible instruments by removing certain separation models in Subtopic 470-20, Debt-Debt with Conversion and Other Options, for convertible instruments. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021, with early adoption permitted. We are currently evaluating the impact this guidance will have on our consolidated financial statements.

Nature of Operations and Rece_2

Nature of Operations and Recent Developments (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Earnings Per Share	A reconciliation of the numerators and denominators of the basic and diluted losses per share computations is as follows: For the Years Ended December 31, (in thousands, except for per share data) 2020 2019 2018 Net loss (numerator) $ (96,638) $ (60,788) $ (19,993) Loss per share: Basic and diluted (1) $ (19.69) $ (16.11) $ (8.40) Shares (denominator): Weighted-average number of shares outstanding-basic (1) 4,907 3,774 2,379 Net effect of dilutive stock options and restricted stock units — — — Weighted-average common shares outstanding-diluted (1) 4,907 3,774 2,379 (1) Prior period results have been adjusted to reflect the 1-for-20 reverse stock split that took place in February 2020. See Reverse Stock Split in Note 1 -Nature of Operations and Recent Developments.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Assets	Depreciation of property, plant and equipment is recorded based on the estimated useful lives of the assets as follows: Estimated Useful Life Buildings 20 - 39 years Drilling rigs and related equipment 3 - 20 years Machinery, equipment and other 3 - 7 years Vehicles 2 - 5 years Major classes of property, plant, and equipment, which include finance lease assets, consisted of the following (in millions): December 31, (in thousands) 2020 2019 Land $ 487 $ 487 Buildings 3,189 3,408 Drilling rigs and related equipment 525,933 568,675 Machinery, equipment and other 1,576 1,396 Finance leases 13,700 14,375 Vehicles 17 355 Construction in progress 19,876 22,260 Total $ 564,778 $ 610,956 Less: Accumulated depreciation (182,539) (153,426) Total Property, plant and equipment, net $ 382,239 $ 457,530
Schedule of Fair Value of Long-term Debt	The following table summarizes the carrying value and fair value of our long-term debt as of December 31, 2020 and 2019. December 31, 2020 December 31, 2019 (in thousands) Carrying Value Fair Value Carrying Value Fair Value Term Loan Facility $ 130,000 $ 106,854 $ 130,000 $ 138,567 Revolving Credit Facility 8 6 — — PPP Loan 10,000 8,589 — — Merger consideration payable to an affiliate 2,902 3,490 — —

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 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 years ended December 31, 2020, 2019 and 2018: Year Ended December 31, (in thousands) 2020 2019 2018 Dayrate drilling $ 70,976 $ 184,374 $ 133,278 Mobilization 3,256 5,365 2,100 Reimbursables 5,838 11,237 4,970 Early termination 3,348 1,405 — Capital modification — 115 216 Intangible — 1,079 2,044 Other — 27 1 Total revenue $ 83,418 $ 203,602 $ 142,609
Receivables and Contract Liabilities Related to Contracts	The following table provides information about receivables and contract liabilities related to contracts with customers as of December 31, 2020 and 2019, respectively. We had no contract assets in either year. (in thousands) December 31, 2020 December 31, 2019 Receivables, which are included in "Accounts receivable, net" $ 9,772 $ 35,378 Contract liabilities, which are included in "Accrued liabilities - deferred revenue" $ (119) $ (311) Significant changes in the contract liabilities balance during the years ended December 31, 2020 and 2019 are as follows: (in thousands) 2020 2019 Revenue recognized that was included in contract liabilities at beginning of period $ 311 $ 1,374 Increase in contract liabilities due to cash received, excluding amounts recognized as revenue $ (119) $ (311)
Estimated Revenue	The estimated revenue does not include amounts of variable consideration that are constrained. Year Ending December 31, (in thousands) 2021 2022 2023 Total Revenue $ 119 $ — $ — $ 119

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Components of Lease Expense and Cash Flow Information	The components of lease expense were as follows: Year Ended Year Ended (in thousands) December 31, 2020 December 31, 2019 Operating lease expense $ 616 $ 524 Short-term lease expense 2,863 4,755 Variable lease expense 382 569 Finance lease cost: Amortization of right-of-use assets $ 1,257 $ 1,163 Interest expense on lease liabilities 806 206 Total finance lease expense 2,063 1,369 Total lease expenses $ 5,924 $ 7,217 Supplemental cash flow information related to leases is as follows: Year Ended Year Ended (in thousands) December 31, 2020 December 31, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 634 $ 509 Operating cash flows from finance leases $ 798 $ 193 Financing cash flows from finance leases $ 4,340 $ 2,980 Right-of-use assets obtained or recorded in exchange for lease obligations: Operating leases $ 1,601 $ 1,427 Finance leases $ 2,648 $ 13,143
Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases is as follows: (in thousands) December 31, 2020 December 31, 2019 Operating leases: Other long-term assets, net $ 2,150 $ 1,033 Accrued liabilities $ 964 $ 475 Other long-term liabilities 1,729 1,250 Total operating lease liabilities $ 2,693 $ 1,725 Finance leases: Property, plant and equipment $ 13,700 $ 14,375 Accumulated depreciation (981) (1,425) Property, plant and equipment, net $ 12,719 $ 12,950 Current portion of long-term debt $ 3,351 $ 3,685 Long-term debt 4,570 7,472 Total finance lease liabilities $ 7,921 $ 11,157 Weighted-average remaining lease term Operating leases 3.2 years 3.6 years Finance leases 2.0 years 2.7 years Weighted-average discount rate Operating leases 8.25 % 8.07 % Finance leases 8.88 % 7.64 %
Maturities of Lease Liabilities	Maturities of lease liabilities at December 31, 2020 were as follows: (in thousands) Operating Leases Finance Leases 2021 $ 1,195 $ 3,892 2022 840 4,275 2023 760 26 2024 372 — 2025 — — Thereafter — — Total cash lease payment 3,167 8,193 Add: expected residual value — 534 Less: imputed interest (474) (806) Total lease liabilities $ 2,693 $ 7,921
Maturities of Lease Liabilities	Maturities of lease liabilities at December 31, 2020 were as follows: (in thousands) Operating Leases Finance Leases 2021 $ 1,195 $ 3,892 2022 840 4,275 2023 760 26 2024 372 — 2025 — — Thereafter — — Total cash lease payment 3,167 8,193 Add: expected residual value — 534 Less: imputed interest (474) (806) Total lease liabilities $ 2,693 $ 7,921

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: December 31, (in thousands) 2020 2019 Rig components and supplies $ 1,038 $ 2,325

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Depreciation of property, plant and equipment is recorded based on the estimated useful lives of the assets as follows: Estimated Useful Life Buildings 20 - 39 years Drilling rigs and related equipment 3 - 20 years Machinery, equipment and other 3 - 7 years Vehicles 2 - 5 years Major classes of property, plant, and equipment, which include finance lease assets, consisted of the following (in millions): December 31, (in thousands) 2020 2019 Land $ 487 $ 487 Buildings 3,189 3,408 Drilling rigs and related equipment 525,933 568,675 Machinery, equipment and other 1,576 1,396 Finance leases 13,700 14,375 Vehicles 17 355 Construction in progress 19,876 22,260 Total $ 564,778 $ 610,956 Less: Accumulated depreciation (182,539) (153,426) Total Property, plant and equipment, net $ 382,239 $ 457,530

Supplemental Consolidated Bal_2

Supplemental Consolidated Balance Sheet and Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following: December 31, (in thousands) 2020 2019 Prepaid insurance $ 3,346 $ 2,450 Prepaid other 636 829 Deferred mobilization costs 89 112 Notes receivable — 145 Insurance claim receivable 27 27 Other current assets 4 1,077 $ 4,102 $ 4,640
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following: December 31, (in thousands) 2020 2019 Accrued salaries and other compensation $ 1,472 $ 3,500 Insurance 2,127 2,861 Deferred revenue 119 701 Property taxes and other 2,166 4,716 Interest 3,573 3,244 Operating lease liability - current 964 475 Other 302 871 $ 10,723 $ 16,368
Supplemental Cash Flow Disclosures	Supplemental consolidated cash flow information: Year Ended December 31, (in thousands) 2020 2019 2018 Supplemental disclosure of cash flow information Cash paid during the year for interest $ 13,309 $ 13,974 $ 3,202 Supplemental disclosure of non-cash investing and financing activities Change in property, plant and equipment purchases in accounts payable $ (7,201) $ 1,607 $ 1,175 Additions to property, plant & equipment through finance and capital leases $ 2,650 $ 13,143 $ 601 Transfer of assets from held and used to held for sale $ — $ (18,506) $ — Transfer from inventory to fixed assets $ — $ (406) $ — Extinguishment of finance lease obligations from sale of assets classified as finance leases $ (1,549) $ (249) $ — Additions to property, plant and equipment through tenant allowance on leasehold improvement $ — $ — $ 694 Sidewinder Merger consideration $ — $ — $ 231,617

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Our Long-term Debt consisted of the following: December 31, (in thousands) 2020 2019 Term Loan Facility due October 1, 2023 $ 130,000 $ 130,000 Revolving Credit Facility due October 1, 2023 8 — PPP Loan 10,000 — Finance lease obligations 7,921 11,157 147,929 141,157 Less: current portion of PPP Loan (4,286) — Less: current portion of finance leases (3,351) (3,685) Less: Term Loan Facility deferred financing costs (2,659) (2,531) Long-term debt $ 137,633 $ 134,941
Schedule of Maturities of Long-term Debt	Presented below is a schedule of the principal repayment requirements of long-term debt by fiscal year as of December 31, 2020: (in thousands) 2021 2022 2023 Thereafter Total Term Loan Facility $ — $ — $ 130,000 $ — $ 130,000 PPP Loan 4,286 5,714 — — 10,000 Total $ 4,286 $ 5,714 $ 130,000 $ — $ 140,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Benefit	The components of the income tax expense are as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Current: Federal $ — $ — $ — State — — — $ — $ — $ — Deferred: Federal $ — $ — $ — State (147) (122) 91 Income tax (benefit) expense $ (147) $ (122) $ 91
Schedule of Effective Income Tax Rate Reconciliation	The effective tax rate (as a percentage of net loss before income taxes) is reconciled to the U.S. federal statutory rate as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Income tax benefit at the statutory federal rate (21%) $ (20,285) $ (12,791) $ (4,233) Nondeductible expenses 103 360 (270) Valuation allowance 19,800 12,626 3,625 State taxes, net of federal benefit (116) (396) 14 Stock-based compensation and other 351 79 955 Income tax (benefit) expense $ (147) $ (122) $ 91 Effective tax rate 0.2 % 0.2 % 0.5 %
Schedule of Deferred Tax Assets and Liabilities	Significant components of our deferred tax assets and liabilities are as follows: December 31, (in thousands) 2020 2019 Deferred income tax assets Merger-related expenses $ 836 $ 836 Bad debts 119 115 Stock-based compensation 1,168 1,136 Accrued liabilities and other 49 285 Deferred revenue 28 164 Interest limitation 3,298 555 ROU Asset (1) 507 404 Net operating losses 65,635 46,975 Total net deferred tax assets $ 71,640 $ 50,470 Deferred income tax liabilities Prepaids $ (769) $ (563) Property, plant and equipment (20,159) (21,347) Intangible assets (231) (124) ROU Liability (1) (628) (242) Other (194) — Total net deferred tax liabilities $ (21,981) $ (22,276) Valuation allowance $ (50,164) $ (28,846) Net deferred tax liability $ (505) $ (652) (1) Certain prior year amounts have been reclassified for consistency with the current year presentation. A reclass has been made to identify the ROU Asset and ROU Liability within the Income Tax footnote. This reclassification had no effect on the reported results of operations.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Summary of Compensation Cost	A summary of compensation cost recognized for stock-based payment arrangements is as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Compensation cost recognized: Stock options $ — $ — $ — Restricted stock and restricted stock units 1,979 1,871 4,829 Total stock-based compensation $ 1,979 $ 1,871 $ 4,829
Schedule of Stock Options Activity	The following summary reflects the stock option activity and related information for the year ended December 31, 2020: Options Weighted Outstanding at January 1, 2020 33,458 $ 254.80 Granted — — Exercised — — Forfeited/expired — — Outstanding at December 31, 2020 33,458 $ 254.80 Exercisable at December 31, 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 year ended December 31, 2020, 2019 and 2018 is as follows: Shares Weighted Outstanding at January 1, 2018 — $ — Granted – Former Sidewinder executives (1) 32,331 64.40 Granted - Other 36,964 64.40 Vested — — Forfeited/expired — — Outstanding at January 1, 2019 69,295 64.40 Granted — — Vested — — Forfeited/expired (6,478) 64.40 Outstanding at January 1, 2020 62,817 64.40 Granted — — Vested (16,767) 64.40 Forfeited/expired (5,716) 64.40 Outstanding at December 31, 2020 40,334 $ 64.40 (1) Time-based restricted stock unit awards granted to former executives of Sidewinder Drilling, LLC relating to their becoming officers of ICD following the Sidewinder Merger.
Schedule of Restricted Stock Unit Activity	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 year ended December 31, 2020, 2019 and 2018 is as follows: Shares Weighted Outstanding at January 1, 2018 39,449 $ 101.00 Granted – Former Sidewinder executives (1) 20,479 95.80 Granted - Other 20,726 89.20 Vested and converted (51,020) 98.20 Forfeited/expired (9,155) 90.00 Outstanding at January 1, 2019 20,479 95.80 Granted 28,244 38.80 Vested and converted (2,737) 94.20 Forfeited/expired (1,547) 94.20 Outstanding at January 1, 2020 44,439 59.71 Granted 64,914 12.96 Vested and converted (26,490) 54.97 Forfeited/expired (18,966) 30.75 Outstanding at December 31, 2020 63,897 $ 22.78 (1) Time-based restricted stock granted to former executives of Sidewinder Drilling, LLC relating to their becoming officers of ICD following the Sidewinder Merger. 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 year ended December 31, 2020, 2019 and 2018 is as follows: Shares Weighted Outstanding at January 1, 2018 10,215 $ 107.00 Granted 11,326 94.40 Vested and converted (8,147) 100.80 Forfeited/expired (13,394) 100.00 Outstanding at January 1, 2019 — — Granted 23,480 33.90 Vested and converted — — Forfeited/expired — — Outstanding at January 1, 2020 23,480 33.90 Granted 24,854 12.42 Vested and converted (1,260) 30.89 Forfeited/expired (8,515) 21.24 Outstanding at December 31, 2020 38,559 $ 22.95

Stockholders' Equity and Loss_2

Stockholders' Equity and Loss per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Schedule of Earnings Per Share	A reconciliation of the numerators and denominators of the basic and diluted losses per share computations is as follows: For the Years Ended December 31, (in thousands, except for per share data) 2020 2019 2018 Net loss (numerator) $ (96,638) $ (60,788) $ (19,993) Loss per share: Basic and diluted (1) $ (19.69) $ (16.11) $ (8.40) Shares (denominator): Weighted-average number of shares outstanding-basic (1) 4,907 3,774 2,379 Net effect of dilutive stock options and restricted stock units — — — Weighted-average common shares outstanding-diluted (1) 4,907 3,774 2,379 (1) Prior period results have been adjusted to reflect the 1-for-20 reverse stock split that took place in February 2020. See Reverse Stock Split in Note 1 -Nature of Operations and Recent Developments.

Unaudited Quarterly Financial_2

Unaudited Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Data	A summary of our unaudited quarterly financial data is as follows: Year Ended December 31, 2020 Quarter Ended (in thousands, except for per share data) March 31 June 30 September 30 December 31 Revenue $ 38,494 $ 21,381 $ 10,224 $ 13,319 Operating loss (24,661) (6,477) (11,676) (39,344) Income tax (benefit) expense (42) (11) (31) (63) Net loss (28,223) (10,120) (15,199) (43,096) Loss per share: Basic and diluted $ (7.53) $ (2.52) $ (2.67) $ (7.02) Year Ended December 31, 2019 Quarter Ended (in thousands, except for per share data) March 31 June 30 September 30 December 31 Revenue $ 60,358 $ 52,879 $ 45,073 $ 45,292 Operating loss (1,152) (6,368) (6,755) (32,220) Income tax (benefit) expense (2,540) 2,898 232 (712) Net loss (2,373) (12,858) (10,547) (35,010) Loss per share: Basic and diluted (1) $ (0.63) $ (3.4) $ (2.80) $ (9.32) (1) Prior period results have been adjusted to reflect the 1-for-20 reverse stock split that took place in February 2020. See Reverse Stock Split in Note 1 -Nature of Operations and Recent Developments.

Nature of Operations and Rece_3

Nature of Operations and Recent Developments (Additional Information) (Details) $ in Millions	Jun. 04, 2020	Jun. 30, 2020	Dec. 31, 2020USD ($)directordrillingRigexecutive	Sep. 30, 2020drillingRig	Mar. 31, 2020drillingRig	Dec. 31, 2019director
Property, Plant and Equipment [Line Items]
Number of operating rigs				3
Number of contracted rigs			11
Reduction in executive management positions | executive			2
Reduction in number of directors | director			5			7
Social security tax, employer, deferral, CARES Act | $			$ 0.8
Line of credit, additional payment as a percentage of principal	0.75%	0.75%
Maximum
Property, Plant and Equipment [Line Items]
Number of operating rigs					22
Minimum
Property, Plant and Equipment [Line Items]
Number of operating rigs					3

Nature of Operations and Rece_4

Nature of Operations and Recent Developments (Common Stock Purchase Agreement) (Details) - USD ($)	Nov. 11, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 05, 2020
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01		$ 0.01
Transaction costs expensed		$ 13,484,000	$ 16,051,000	$ 15,907,000
Common Stock Purchase Agreement | Tumim Stone Capital LLC
Subsidiary, Sale of Stock [Line Items]
Maximum sale of stock	$ 5,000,000
Common stock, par value (in dollars per share)	$ 0.01
Period of stock agreement	24 months
Maximum share issuance threshold (in shares)	1,234,546
Maximum threshold percentage of outstanding stock	19.99%
Maximum sale of stock (in shares)	1,500,000
Maximum amount of common stock Tumim is allowed to own (as percent)	4.99%
Transaction costs expensed	$ 500,000

Nature of Operations and Rece_5

Nature of Operations and Recent Developments (ATM Offering) (Details) - USD ($) $ / shares in Units, shares in Millions	Jun. 05, 2020	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common stock, par value (in dollars per share)	$ 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	$ 0
Number of shares issued (in shares)		2.4
Sale of stock, price per share (in dollars per share)			$ 4.66

Nature of Operations and Rece_6

Nature of Operations and Recent Developments (Reverse Stock Split) (Details)	Feb. 06, 2020	Dec. 31, 2020shares	Mar. 11, 2020shares	Mar. 10, 2020shares	Dec. 31, 2019shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reverse stock splits (in shares)	0.05
Common stock, shares issued (in shares)		6,254,396	3,876,196	77,523,973	3,876,196
Common stock, shares outstanding (in shares)		6,175,818	3,812,050	76,241,045	3,812,050
Common stock, shares authorized (in shares)		50,000,000	50,000,000	200,000,000	50,000,000

Nature of Operations and Rece_7

Nature of Operations and Recent Developments (Sidewinder Merger) (Details) - USD ($) $ in Thousands	Jan. 01, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 04, 2020
Business Acquisition [Line Items]
Severance and merger-related expenses											$ 1,076	$ 2,698	$ 13,646
Revenues		$ 13,319	$ 10,224	$ 21,381	$ 38,494	$ 45,292	$ 45,073	$ 52,879	$ 60,358		83,418	203,602	142,609
Due to related party, deferred payment														$ 2,900
Deferred payment, interest accrual rate										15.00%
Subsequent Event | Forecast
Business Acquisition [Line Items]
Deferred payment, interest accrual rate	25.00%
Intangible
Business Acquisition [Line Items]
Revenues											$ 0	1,079	2,044
Sidewinder Drilling, Inc.
Business Acquisition [Line Items]
Severance and merger-related expenses												2,700	13,600
Sidewinder Drilling, Inc. | Intangible
Business Acquisition [Line Items]
Revenues												$ 1,100	$ 2,000

Nature of Operations and Rece_8

Nature of Operations and Recent Developments (Asset Impairments and Assets Held for Sale) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of assets held for sale				$ 3,300
Impairment of assets held for use				$ 13,300					$ 41,007	$ 35,748	$ 25
Goodwill impairment loss					$ 2,300	$ 2,300
Goodwill impairment loss (as a percent)			100.00%			100.00%
Asset impairment charges					25,900
Decrease in assets held for sale									2,800
Assets held for sale		$ 0			8,740				0	8,740
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Value of assets held for sale sold		2,600							2,600
Proceeds from the sale of assets									1,300
Loss on sale of assets									$ (1,300)
COVID-19
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of assets held for sale	$ 3,300
Sidewinder Drilling, Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale					5,900					5,900
Sidewinder Rigs Belonging To Unitholders
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale					$ 2,800					$ 2,800
Machinery and Equipment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of assets held for sale		2,400					$ 1,100	$ 2,000
Impairment of assets held for use							$ 4,400
Impairment charge related to assets on rigs		$ 21,900

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Accounts Receivable) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 0.5	$ 0.5

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Property, Plant and Equipment) (Details)	12 Months Ended
	Dec. 31, 2020fieldLocation
Property, Plant and Equipment [Line Items]
Field locations	6
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	20 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	39 years
Drilling rigs and related equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	3 years
Drilling rigs and related equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	20 years
Machinery, equipment and other | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	3 years
Machinery, equipment and other | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	7 years
Vehicles | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	2 years
Vehicles | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Capitalized Interest) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Capitalized interest	$ 0	$ 300,000	$ 200,000

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Financial Instruments and Fair Value) (Details)	Dec. 31, 2020
Income Approach | Level 3 | Discount Rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, measurement input	0.172

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Long-term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Merger consideration payable to an affiliate	$ 2,902	$ 0
Carrying Value
Debt Instrument [Line Items]
Merger consideration payable to an affiliate	2,902	0
Fair Value
Debt Instrument [Line Items]
Merger consideration payable to an affiliate	3,490	0
Term Loan Facility | Carrying Value
Debt Instrument [Line Items]
Carrying Value	130,000	130,000
Term Loan Facility | Fair Value
Debt Instrument [Line Items]
Fair Value	106,854	138,567
Revolving Credit Facility | Carrying Value
Debt Instrument [Line Items]
Carrying Value	8	0
Revolving Credit Facility | Fair Value
Debt Instrument [Line Items]
Fair Value	6	0
PPP Loan | Carrying Value
Debt Instrument [Line Items]
Carrying Value	10,000	0
PPP Loan | Fair Value
Debt Instrument [Line Items]
Fair Value	$ 8,589	$ 0

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Goodwill and Intangible Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Finite-Lived Intangible Liabilities [Line Items]
Goodwill impairment loss					$ 2,300	$ 2,300
Goodwill impairment loss (as a percent)		100.00%				100.00%
Revenues	$ 13,319	$ 10,224	$ 21,381	$ 38,494	$ 45,292	$ 45,073	$ 52,879	$ 60,358	$ 83,418	$ 203,602	$ 142,609
Intangible
Schedule of Finite-Lived Intangible Liabilities [Line Items]
Revenues									$ 0	$ 1,079	$ 2,044

Sidewinder Merger (Details)

Sidewinder Merger (Details) - Sidewinder Drilling, Inc. $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Revenues	$ 32.1
Operating income	$ 3.3

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Disaggregation of Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 13,319	$ 10,224	$ 21,381	$ 38,494	$ 45,292	$ 45,073	$ 52,879	$ 60,358	$ 83,418	$ 203,602	$ 142,609
Dayrate drilling
Disaggregation of Revenue [Line Items]
Revenues									70,976	184,374	133,278
Mobilization
Disaggregation of Revenue [Line Items]
Revenues									3,256	5,365	2,100
Reimbursables
Disaggregation of Revenue [Line Items]
Revenues									5,838	11,237	4,970
Early termination
Disaggregation of Revenue [Line Items]
Revenues									3,348	1,405	0
Capital modification
Disaggregation of Revenue [Line Items]
Revenues									0	115	216
Intangible
Disaggregation of Revenue [Line Items]
Revenues									0	1,079	2,044
Other
Disaggregation of Revenue [Line Items]
Revenues									$ 0	$ 27	$ 1

Revenue from Contracts with C_4

Revenue from Contracts with Customers (Assets and Liabilities) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0	$ 0
Receivables, which are included in "Accounts receivable, net"	9,772,000	35,378,000
Contract liabilities, which are included in "Accrued liabilities - deferred revenue"	$ (119,000)	$ (311,000)

Revenue from Contracts with C_5

Revenue from Contracts with Customers (Assets and Liabilities Rollforward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue recognized that was included in contract liabilities at beginning of period	$ 311	$ 1,374
Increase in contract liabilities due to cash received, excluding amounts recognized as revenue	$ (119)	$ (311)

Revenue from Contracts with C_6

Revenue from Contracts with Customers (Remaining Performance Obligation) (Details) $ in Thousands	Dec. 31, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligations, expected to be satisfied	$ 119
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations, expected to be satisfied	$ 119
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations, expected to be satisfied	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Performance obligations, expected to be satisfied	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Revenue from Contracts with C_7

Revenue from Contracts with Customers (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Capitalized contract costs, current	$ 0.1	$ 0.1
Capitalized contract costs, increase	2.1
Amortization of contract costs	$ 2.1

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Finance lease liabilities		$ 7,921	$ 11,157
Finance lease, right-of-use asset		12,719	12,950
Operating lease liabilities		2,693	1,725
Operating lease, right-of-use asset		2,150	1,033
Finance obligations and right of use assets		$ 2,648	$ 13,143
Rent expense				$ 5,100
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Finance lease liabilities	$ 1,200
Finance lease, right-of-use asset	1,300
Operating lease liabilities	$ 1,700
Discount rate	8.17%
Operating lease, right-of-use asset	$ 900
Unamortized lease incentive	800
Finance obligations and right of use assets	$ 400

Leases (Lease Cost) (Details)

Leases (Lease Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease expense	$ 616	$ 524
Short-term lease expense	2,863	4,755
Variable lease expense	382	569
Finance lease cost:
Amortization of right-of-use assets	1,257	1,163
Interest expense on lease liabilities	806	206
Total finance lease expense	2,063	1,369
Total lease expenses	5,924	7,217
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	634	509
Operating cash flows from finance leases	798	193
Financing cash flows from finance leases	4,340	2,980
Right-of-use assets obtained or recorded in exchange for lease obligations:
Operating leases	$ 1,601	$ 1,427

Leases (Lease Assets and Liabil

Leases (Lease Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating leases:
Other long-term assets, net	$ 2,150	$ 1,033
Accrued liabilities	964	475
Other long-term liabilities	1,729	1,250
Total operating lease liabilities	2,693	1,725
Finance leases:
Property, plant and equipment	13,700	14,375
Accumulated depreciation	(981)	(1,425)
Property, plant and equipment, net	12,719	12,950
Current portion of long-term debt	3,351	3,685
Long-term debt	4,570	7,472
Total finance lease liabilities	$ 7,921	$ 11,157
Weighted-average remaining lease term
Operating leases	3 years 2 months 12 days	3 years 7 months 6 days
Finance leases	2 years	2 years 8 months 12 days
Weighted-average discount rate
Operating leases	8.25%	8.07%
Finance leases	8.88%	7.64%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent
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:LiabilitiesOtherThanLongtermDebtNoncurrent	us-gaap:LiabilitiesOtherThanLongtermDebtNoncurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet	us-gaap:PropertyPlantAndEquipmentNet
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:LinesOfCreditCurrent	us-gaap:LinesOfCreditCurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:LongTermLineOfCredit	us-gaap:LongTermLineOfCredit

Leases (Lease Maturities) (Deta

Leases (Lease Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 1,195
2022	840
2023	760
2024	372
2025	0
Thereafter	0
Total cash lease payment	3,167
Less: imputed interest	(474)
Total lease liabilities	2,693	$ 1,725
Finance Leases
2021	3,892
2022	4,275
2023	26
2024	0
2025	0
Thereafter	0
Total cash lease payment	8,193
Add: expected residual value	534
Less: imputed interest	(806)
Total lease liabilities	$ 7,921	$ 11,157

Inventories (Details)

Inventories (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Rig components and supplies	$ 1,038,000	$ 2,325,000
Reserve for obsolescence	0	0
Inventory obsolescence expense	$ 0	$ 0	$ 0

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total	$ 564,778	$ 610,956
Less: Accumulated depreciation	(182,539)	(153,426)
Total Property, plant and equipment, net	382,239	457,530
Repairs and maintenance expense	9,700	27,200	$ 19,700
Depreciation	43,900	45,400	$ 30,900
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	487	487
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,189	3,408
Drilling rigs and related equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	525,933	568,675
Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,576	1,396
Finance leases
Property, Plant and Equipment [Line Items]
Finance leases	13,700	14,375
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	17	355
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 19,876	$ 22,260

Supplemental Consolidated Bal_3

Supplemental Consolidated Balance Sheet and Cash Flow Information (Prepaid Expenses and Other Current Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Prepaid insurance	$ 3,346	$ 2,450
Prepaid other	636	829
Deferred mobilization costs	89	112
Notes receivable	0	145
Insurance claim receivable	27	27
Other current assets	4	1,077
Prepaid expenses and other current assets	$ 4,102	$ 4,640

Supplemental Consolidated Bal_4

Supplemental Consolidated Balance Sheet and Cash Flow Information (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accrued salaries and other compensation	$ 1,472	$ 3,500
Insurance	2,127	2,861
Deferred revenue	119	701
Property taxes and other	2,166	4,716
Interest	3,573	3,244
Operating lease liability - current	964	475
Other	302	871
Accrued liabilities	$ 10,723	$ 16,368

Supplemental Consolidated Bal_5

Supplemental Consolidated Balance Sheet and Cash Flow Information (Supplemental Cash Flow) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Cash paid during the year for interest	$ 13,309	$ 13,974	$ 3,202
Supplemental disclosure of non-cash investing and financing activities
Change in property, plant and equipment purchases in accounts payable	(7,201)	1,607	1,175
Additions to property, plant & equipment through finance and capital leases	2,650	13,143	601
Transfer of assets from held and used to held for sale	0	(18,506)	0
Transfer from inventory to fixed assets	0	(406)	0
Extinguishment of finance lease obligations from sale of assets classified as finance leases	(1,549)	(249)	0
Additions to property, plant and equipment through tenant allowance on leasehold improvement	0	0	694
Sidewinder Merger consideration	$ 0	$ 0	$ 231,617

Long-term Debt (Summary of Long

Long-term Debt (Summary of Long-term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total lease liabilities	$ 7,921	$ 11,157
Long-term debt and capital lease obligations, including current maturities	147,929	141,157
Current portion of long-term debt	3,351	3,685
Less: Term Loan Facility deferred financing costs	(2,659)	(2,531)
Long-term debt	137,633	134,941
Term Loan Facility
Debt Instrument [Line Items]
Total	130,000
PPP Loan
Debt Instrument [Line Items]
Total	10,000	0
Less: current portion of PPP loan and finance leases	(4,286)	0
Line of Credit | Term Loan Facility
Debt Instrument [Line Items]
Total	130,000	130,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total	$ 8	$ 0

Long-term Debt (Future Long-ter

Long-term Debt (Future Long-term Debt Payments) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Term Loan Facility and PPP Loan
Debt Instrument [Line Items]
2021	$ 4,286
2022	5,714
2023	130,000
Thereafter	0
Total	140,000
Term Loan Facility
Debt Instrument [Line Items]
2021	0
2022	0
2023	130,000
Thereafter	0
Total	130,000
PPP Loan
Debt Instrument [Line Items]
2021	4,286
2022	5,714
2023	0
Thereafter	0
Total	$ 10,000	$ 0

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details)	Jun. 04, 2020	Oct. 01, 2018USD ($)	Jun. 30, 2020	Dec. 31, 2020USD ($)	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
Term Loan Facility
Debt Instrument [Line Items]
Face amount		$ 130,000,000
Delayed Draw Term Loan
Debt Instrument [Line Items]
Face amount		15,000,000
Line of Credit
Debt Instrument [Line Items]
Weighted average interest rate				9.00%
Line of Credit | Term Loan Facility
Debt Instrument [Line Items]
Face amount		130,000,000
Liquidity covenant		$ 10,000,000
Fixed charge coverage ratio		1
Line of Credit | Delayed Draw Term Loan
Debt Instrument [Line Items]
Face amount		$ 15,000,000
Line of Credit | ABL Credit Facility and Delayed Draw Facility
Debt Instrument [Line Items]
Minimum availability		$ 5,000,000
Line of Credit | Revolving Credit Facility
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, 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				$ 7,700,000
Line of Credit | PPP Loan
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity						$ 10,000,000
Line of Credit | Federal funds, effective rate | Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		0.05%
Line of Credit | LIBOR | Term Loan Facility
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		7.50%
Line of Credit | LIBOR | Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		1.00%
Line of Credit | Prime Rate | Term Loan Facility
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		6.50%
Revolving Credit Facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 40,000,000		40,000,000
Remaining availability				$ 7,500,000
Letter of Credit | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 7,500,000
Minimum | Line of Credit | LIBOR | Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		2.00%
Minimum | Line of Credit | Wells Fargo Prime Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		1.00%
Maximum | Line of Credit | Federal funds, effective rate | Term Loan Facility
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		0.05%
Maximum | Line of Credit | LIBOR | Term Loan Facility
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		1.00%
Maximum | Line of Credit | LIBOR | Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		2.50%
Maximum | Line of Credit | Wells Fargo Prime Rate
Debt Instrument [Line Items]
Interest rate, basis spread (as a percent)		1.50%

Income Taxes (Components of Inc

Income Taxes (Components of Income Tax Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal									$ 0	$ 0	$ 0
State									0	0	0
Current income tax expense (benefit)									0	0	0
Deferred:
Federal									0	0	0
State									(147)	(122)	91
Income tax (benefit) expense	$ (63)	$ (31)	$ (11)	$ (42)	$ (712)	$ 232	$ 2,898	$ (2,540)	$ (147)	$ (122)	$ 91

Income Taxes (Reconciliation of

Income Taxes (Reconciliation of Income Tax Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory tax rate (as a percent)									21.00%	21.00%	21.00%
Income tax benefit at the statutory federal rate (21%)									$ (20,285)	$ (12,791)	$ (4,233)
Nondeductible expenses									103	360	(270)
Valuation allowance									19,800	12,626	3,625
State taxes, net of federal benefit									(116)	(396)	14
Stock-based compensation and other									351	79	955
Income tax (benefit) expense	$ (63)	$ (31)	$ (11)	$ (42)	$ (712)	$ 232	$ 2,898	$ (2,540)	$ (147)	$ (122)	$ 91
Effective tax rate (as a percent)									0.20%	0.20%	0.50%

Income Taxes (Deferred Tax Asse

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred income tax assets
Merger-related expenses	$ 836	$ 836
Bad debts	119	115
Stock-based compensation	1,168	1,136
Accrued liabilities and other	49	285
Deferred revenue	28	164
Interest limitation	3,298	555
ROU Asset(1)	507	404
Net operating losses	65,635	46,975
Total net deferred tax assets	71,640	50,470
Deferred income tax liabilities
Prepaids	(769)	(563)
Property, plant and equipment	(20,159)	(21,347)
Intangible assets	(231)	(124)
ROU Liability	(628)	(242)
Other	(194)	0
Total net deferred tax liabilities	(21,981)	(22,276)
Valuation allowance	(50,164)	(28,846)
Net deferred tax liability	$ (505)	$ (652)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 303,600,000
Net operating loss carryforwards, subject to expiration	131,400,000
Net operating loss carryforwards, not subject to expiration	$ 172,200,000
Unrecognized tax benefits		$ 0

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercised (in shares)	0	0	0
Options granted (in shares)	0	0	0
Options exercisable (in shares)	33,458
Weighted average remaining contractual life (in years)	1 year 3 months 18 days
Weighted-average exercise price (in USD per share)	$ 254.80
Risk-free interest rate (as a percent)	1.38%	1.86%	2.13%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	$ 0	$ 0	$ 0
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	$ 1,500,000
Weighted average recognition period (in years)	1 year 6 months
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	$ 1,000,000
Vesting period (in years)	3 years
Weighted average recognition period (in years)	8 months 12 days
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	$ 300,000
Vesting period (in years)	3 years
Weighted average recognition period (in years)	10 months 24 days
Share-based compensation arrangement by share-based payment award, shares received per restricted stock unit	2
TSR market-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	68.50%	58.20%	60.60%
Dividend yield (as a percent)	0.00%	0.00%	0.00%
Fair value assumptions, exercise price (in dollars per share)	$ 12.42	$ 29	$ 104.60
Minimum | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Maximum | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	5 years
2019 Omnibus Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized (up to) (in shares)	275,000
Number of shares available for grant (in shares)	105,055

Stock-Based Compensation (Compe

Stock-Based Compensation (Compensation Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Compensation cost recognized:
Total stock-based compensation	$ 1,979	$ 1,871	$ 4,829
Stock options
Compensation cost recognized:
Total stock-based compensation	0	0	0
Restricted stock and restricted stock units
Compensation cost recognized:
Total stock-based compensation	$ 1,979	$ 1,871	$ 4,829

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock Option Activity) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Options (in shares)
Beginning balance (in shares)	33,458
Granted (in shares)	0	0	0
Exercised (in shares)	0	0	0
Forfeited/expired (in shares)	0
Ending balance (in shares)	33,458	33,458
Exercisable (in shares)	33,458
Weighted Average Exercise Price
Beginning balance (in USD per share)	$ 254.80
Granted (in USD per share)	0
Exercised (in USD per share)	0
Forfeited/expired (in USD per share)	0
Ending balance (in USD per share)	254.80	$ 254.80
Exercisable (in USD per share)	$ 254.80

Stock-Based Compensation (Restr

Stock-Based Compensation (Restricted Stock Activity) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted stock
Shares
Beginning balance (in shares)	62,817	69,295	0
Granted – Former Sidewinder executives (in shares)			32,331
Granted - other (in shares)			36,964
Granted (in shares)	0	0
Vested and converted (in shares)	(16,767)	0	0
Forfeited/expired (in shares)	(5,716)	(6,478)	0
Ending balance (in shares)	40,334	62,817	69,295
Weighted Average Grant-Date Fair Value Per Share
Beginning balance (in USD per share)	$ 64.40	$ 64.40	$ 0
Granted – Former Sidewinder executives (in USD per share)			64.40
Granted - other (in USD per share)			64.40
Granted (in USD per share)	0	0
Vested and converted (in USD per share)	64.40	0	0
Forfeited/expired (in USD per share)	64.40	64.40	0
Ending balance (in USD per share)	$ 64.40	$ 64.40	$ 64.40
Restricted stock units (RSUs)
Shares
Beginning balance (in shares)	44,439	20,479	39,449
Granted – Former Sidewinder executives (in shares)			20,479
Granted - other (in shares)			20,726
Granted (in shares)	64,914	28,244
Vested and converted (in shares)	(26,490)	(2,737)	(51,020)
Forfeited/expired (in shares)	(18,966)	(1,547)	(9,155)
Ending balance (in shares)	63,897	44,439	20,479
Weighted Average Grant-Date Fair Value Per Share
Beginning balance (in USD per share)	$ 59.71	$ 95.80	$ 101
Granted – Former Sidewinder executives (in USD per share)			95.80
Granted - other (in USD per share)			89.20
Granted (in USD per share)	12.96	38.80
Vested and converted (in USD per share)	54.97	94.20	98.20
Forfeited/expired (in USD per share)	30.75	94.20	90
Ending balance (in USD per share)	$ 22.78	$ 59.71	$ 95.80

Stock-Based Compensation (Perfo

Stock-Based Compensation (Performance Restricted Stock Unit Activity) (Details) - Performance-based RSUs - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares
Beginning balance (in shares)	23,480	0	10,215
Granted (in shares)	24,854	23,480	11,326
Vested and converted (in shares)	(1,260)	0	(8,147)
Forfeited/expired (in shares)	(8,515)	0	(13,394)
Ending balance (in shares)	38,559	23,480	0
Weighted Average Grant-Date Fair Value Per Share
Beginning balance (in USD per share)	$ 33.90	$ 0	$ 107
Granted (in USD per share)	12.42	33.90	94.40
Vested and converted (in USD per share)	30.89	0	100.80
Forfeited/expired (in USD per share)	21.24	0	100
Ending balance (in USD per share)	$ 22.95	$ 33.90	$ 0

Stockholders' Equity and Loss_3

Stockholders' Equity and Loss per Share (Narrative) (Details) - $ / shares		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 05, 2020	Mar. 11, 2020	Mar. 10, 2020	Dec. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01		$ 0.01
Treasury stock (in shares)		78,578	64,146
Shares authorized (in shares)		50,000,000	50,000,000			50,000,000	200,000,000
Equity Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		33,458	33,458	33,458
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		102,456	44,447	20,480
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Restricted stock outstanding (in shares)		40,334	62,817	69,295				0
Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock outstanding (in shares)	[1]	6,175,818	3,812,050	3,853,909				1,899,261
[1]	Prior period results have been adjusted to reflect the 1-for-20 reverse stock split that took place in February 2020. See Reverse Stock Split in Note 1 - Nature of Operations and Recent Developments.

Stockholders' Equity and Loss_4

Stockholders' Equity and Loss per Share (Loss Per Share) (Details) $ / shares in Units, shares in Thousands, $ in Thousands	Feb. 06, 2020	Dec. 31, 2020USD ($)$ / shares	Sep. 30, 2020USD ($)$ / shares	Jun. 30, 2020USD ($)$ / shares	Mar. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Sep. 30, 2019USD ($)$ / shares	Jun. 30, 2019USD ($)$ / shares	Mar. 31, 2019USD ($)$ / shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares
Stockholders' Equity Note [Abstract]
Net loss (numerator) | $		$ (43,096)	$ (15,199)	$ (10,120)	$ (28,223)	$ (35,010)	$ (10,547)	$ (12,858)	$ (2,373)	$ (96,638)	$ (60,788)	$ (19,993)
Loss per share:
Basic and diluted (in dollars per share) | $ / shares		$ (7.02)	$ (2.67)	$ (2.52)	$ (7.53)	$ (9.32)	$ (2.80)	$ (3.4)	$ (0.63)	$ (19.69)	$ (16.11)	$ (8.40)
Shares (denominator):
Weighted-average number of shares outstanding-basic (in shares)										4,907	3,774	2,379
Net effect of dilutive stock options, warrants and restricted stock units (in shares)										0	0	0
Weighted-average common shares outstanding-diluted (in shares)										4,907	3,774	2,379
Reverse stock splits (in shares)	0.05

Segment and Geographical Info_2

Segment and Geographical Information (Details)	12 Months Ended
	Dec. 31, 2020segment
Segment Reporting [Abstract]
Number of segments	1

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020USD ($)executive
Commitments and Contingencies Disclosure [Abstract]
Purchase commitments	$ 600,000
Payments for deposits	200,000
Letters of credit outstanding, amount	$ 200,000
Debt Instrument [Line Items]
Employment agreement, number of executives | executive	6
Employment agreement term	3 years
Employment agreement, minimum annual cash compensation	$ 1,700,000
Employment agreement severance amount	4,400,000
Letter of Credit
Debt Instrument [Line Items]
Letter of credit, amount drawn	$ 0

Concentration of Market and C_2

Concentration of Market and Credit Risk (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Cash, uninsured amount	$ 11.8
Revenues | Customer Concentration Risk | Diamondback Energy
Concentration Risk [Line Items]
Concentration risk, percentage	16.00%	17.00%
Revenues | Customer Concentration Risk | BPX Operating Company
Concentration Risk [Line Items]
Concentration risk, percentage	15.00%
Revenues | Customer Concentration Risk | GeoSouthern Energy Corporation
Concentration Risk [Line Items]
Concentration risk, percentage	12.00%	15.00%	23.00%
Revenues | Customer Concentration Risk | Indigo Minerals
Concentration Risk [Line Items]
Concentration risk, percentage	12.00%
Revenues | Customer Concentration Risk | Concho Resources, Inc.
Concentration Risk [Line Items]
Concentration risk, percentage		14.00%	22.00%
Accounts Receivable | Customer Concentration Risk | Diamondback Energy
Concentration Risk [Line Items]
Concentration risk, percentage		21.00%	14.00%
Accounts Receivable | Customer Concentration Risk | BPX Operating Company
Concentration Risk [Line Items]
Concentration risk, percentage	26.00%
Accounts Receivable | Customer Concentration Risk | GeoSouthern Energy Corporation
Concentration Risk [Line Items]
Concentration risk, percentage	13.00%	14.00%	14.00%
Accounts Receivable | Customer Concentration Risk | Indigo Minerals
Concentration Risk [Line Items]
Concentration risk, percentage	25.00%
Accounts Receivable | Customer Concentration Risk | Concho Resources, Inc.
Concentration Risk [Line Items]
Concentration risk, percentage			21.00%
Accounts Receivable | Customer Concentration Risk | Triple Crown Resources
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%
Accounts Receivable | Customer Concentration Risk | BP p.l.c.
Concentration Risk [Line Items]
Concentration risk, percentage			10.00%

Related Parties and Other Mat_2

Related Parties and Other Matters (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Oct. 01, 2018
Related Party Transaction [Line Items]
Merger consideration payable to an affiliate	$ 2,902,000	$ 0
Interest payable	300,000
Term Loan Facility
Related Party Transaction [Line Items]
Face amount			$ 130,000,000
Interest payment	$ 12,000,000
Delayed Draw Term Loan
Related Party Transaction [Line Items]
Face amount			$ 15,000,000

Unaudited Quarterly Financial_3

Unaudited Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 13,319	$ 10,224	$ 21,381	$ 38,494	$ 45,292	$ 45,073	$ 52,879	$ 60,358	$ 83,418	$ 203,602	$ 142,609
Operating loss	(39,344)	(11,676)	(6,477)	(24,661)	(32,220)	(6,755)	(6,368)	(1,152)	(82,158)	(46,495)	(12,340)
Income tax (benefit) expense	(63)	(31)	(11)	(42)	(712)	232	2,898	(2,540)	(147)	(122)	91
Net loss	$ (43,096)	$ (15,199)	$ (10,120)	$ (28,223)	$ (35,010)	$ (10,547)	$ (12,858)	$ (2,373)	$ (96,638)	$ (60,788)	$ (19,993)
Loss per share:
Basic and diluted (in dollars per share)	$ (7.02)	$ (2.67)	$ (2.52)	$ (7.53)	$ (9.32)	$ (2.80)	$ (3.4)	$ (0.63)	$ (19.69)	$ (16.11)	$ (8.40)

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Schedule II) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 502	$ 0	$ 8
Charged to Costs and Expenses	16	502	22
Deductions	0	0	(30)
Other	0	0	0
Balance at End of Period	518	502	0
Valuation allowance for deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	28,846	16,022	12,396
Charged to Costs and Expenses	21,318	12,626	3,626
Deductions	0	0	0
Other		198	0
Balance at End of Period	$ 50,164	$ 28,846	$ 16,022