Helmerich & Payne (HP) 10-Q 27 Jul 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jun. 30, 2022	Jul. 20, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	1-4221
Entity Registrant Name	HELMERICH & PAYNE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	73-0679879
Entity Address, Address Line One	1437 South Boulder Avenue, Suite 1400
Entity Address, City or Town	Tulsa
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	74119
City Area Code	918
Local Phone Number	742-5531
Title of 12(b) Security	Common Stock ($0.10 par value)
Trading Symbol	HP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		105,290,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--09-30
Entity Central Index Key	0000046765

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Current Assets:
Cash and cash equivalents	$ 188,663	$ 917,534
Short-term investments	144,331	198,700
Accounts receivable, net of allowance of $3,032 and $2,068, respectively	397,880	228,894
Inventories of materials and supplies, net	86,091	84,057
Prepaid expenses and other, net	103,589	85,928
Assets held-for-sale	25,604	71,453
Total current assets	946,158	1,586,566
Investments	213,956	135,444
Property, plant and equipment, net	2,987,107	3,127,287
Other Noncurrent Assets:
Goodwill	45,653	45,653
Intangible assets, net	68,950	73,838
Operating lease right-of-use assets	40,539	49,187
Other assets, net	20,247	16,153
Total other noncurrent assets	175,389	184,831
Total assets	4,322,610	5,034,128
Current Liabilities:
Accounts payable	119,972	71,996
Dividends payable	26,693	27,332
Current portion of long-term debt, net	0	483,486
Accrued liabilities	254,611	283,492
Total current liabilities	401,276	866,306
Noncurrent Liabilities:
Long-term debt, net	542,290	541,997
Deferred income taxes	527,545	563,437
Other	116,770	147,757
Noncurrent liabilities - discontinued operations	2,061	2,013
Total noncurrent liabilities	1,188,666	1,255,204
Commitments and contingencies (Note 13)
Shareholders' Equity:
Common stock, $.10 par value, 160,000,000 shares authorized, 112,222,865 shares issued as of both June 30, 2022 and September 30, 2021, and 105,290,017 and 107,898,859 shares outstanding as of June 30, 2022 and September 30, 2021, respectively	11,222	11,222
Preferred stock, no par value, 1,000,000 shares authorized, no shares issued	0	0
Additional paid-in capital	521,439	529,903
Retained earnings	2,454,726	2,573,375
Accumulated other comprehensive loss	(19,067)	(20,244)
Treasury stock, at cost, 6,932,848 shares and 4,324,006 shares as of June 30, 2022 and September 30, 2021, respectively	(235,652)	(181,638)
Total shareholders’ equity	2,732,668	2,912,618
Total liabilities and shareholders' equity	$ 4,322,610	$ 5,034,128

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Current Assets:
Allowance for accounts receivable	$ 3,032	$ 2,068
Common Stock
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	160,000,000	160,000,000
Common stock, shares issued (in shares)	112,222,865	112,222,865
Common stock, shares outstanding (in shares)	105,290,017	107,898,859
Preferred Stock
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Treasury Stock
Treasury stock, shares (in shares)	6,932,848	4,324,006

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
OPERATING REVENUES
Drilling services	$ 547,906	$ 329,774	$ 1,420,810	$ 868,581
Other	2,327	2,439	6,802	6,180
Total operating revenues	550,233	332,213	1,427,612	874,761
OPERATING COSTS AND EXPENSES
Drilling services operating expenses, excluding depreciation and amortization	376,210	255,471	1,015,621	684,473
Other operating expenses	1,053	1,481	3,416	4,117
Depreciation and amortization	100,741	104,493	304,115	317,771
Research and development	6,511	5,610	19,425	16,527
Selling, general and administrative	44,933	41,719	135,699	120,371
Asset impairment charge	0	2,130	4,363	56,414
Restructuring charges	33	2,110	838	3,856
Gain on reimbursement of drilling equipment	(9,895)	(4,268)	(21,597)	(10,207)
Other (gain) loss on sale of assets	(3,075)	834	(2,762)	12,952
Total operating costs and expenses	516,511	409,580	1,459,118	1,206,274
OPERATING INCOME (LOSS) FROM CONTINUING OPERATIONS	33,722	(77,367)	(31,506)	(331,513)
Other income (expense)
Interest and dividend income	5,313	1,527	11,301	8,225
Interest expense	(4,372)	(5,963)	(14,876)	(17,861)
Gain (loss) on investment securities	(14,310)	2,409	55,684	7,853
Loss on extinguishment of debt	0	0	(60,083)	0
Other	(1,148)	(970)	(2,166)	(3,027)
Total other income (expense)	(14,517)	(2,997)	(10,140)	(4,810)
Income (loss) from continuing operations before income taxes	19,205	(80,364)	(41,646)	(336,323)
Income tax expense (benefit)	1,730	(23,659)	(3,166)	(78,398)
Income (loss) from continuing operations	17,475	(56,705)	(38,480)	(257,925)
Income (loss) from discontinued operations before income taxes	277	1,150	(106)	10,936
Income tax provision	0	0	0	0
Income (loss) from discontinued operations	277	1,150	(106)	10,936
NET INCOME (LOSS)	$ 17,752	$ (55,555)	$ (38,586)	$ (246,989)
Basic earnings (loss) per common share:
Income (loss) from continuing operations (in dollars per share)	$ 0.16	$ (0.53)	$ (0.37)	$ (2.40)
Income from discontinued operations (in dollars per share)	0	0.01	0	0.10
Net income (loss) (in dollars per share)	0.16	(0.52)	(0.37)	(2.30)
Diluted earnings (loss) per common share:
Income (loss) from continuing operations (in dollars per share)	0.16	(0.53)	(0.37)	(2.40)
Income from discontinued operations (in dollars per share)	0	0.01	0	0.10
Net Income (loss) (in dollars per share)	$ 0.16	$ (0.52)	$ (0.37)	$ (2.30)
Weighted average shares outstanding:
Basic (in shares)	105,289	107,896	106,092	107,790
Diluted (in shares)	106,021	107,896	106,092	107,790

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 17,752	$ (55,555)	$ (38,586)	$ (246,989)
Other comprehensive income, net of income taxes:
Net change related to employee benefit plans, net of income taxes of $(41.7) thousand and $(0.3) million for the three and nine months ended June 30, 2022, respectively, and $(0.2) million and $(0.5) million for the three and nine months ended June 30, 2021.	389	460	1,177	1,374
Other comprehensive income	389	460	1,177	1,374
Comprehensive income (loss)	$ 18,141	$ (55,095)	$ (37,409)	$ (245,615)

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other comprehensive income, net of income taxes:
Income tax on minimum pension liability adjustments	$ (41,700)	$ (200,000)	$ (300,000)	$ (500,000)

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance (in shares) at Sep. 30, 2020			112,151,000
Beginning balance (in shares) at Sep. 30, 2020								4,663,000
Beginning balance at Sep. 30, 2020	$ 3,318,514	$ (1,251)	$ 11,215	$ 521,628	$ 3,010,012	$ (1,251)	$ (26,188)	$ (198,153)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(70,431)				(70,431)
Other comprehensive income	457						457
Dividends declared	(27,324)				(27,324)
Vesting of restricted stock awards, net of shares withheld for employee taxes (in shares)			72,000					(295,000)
Vesting of restricted stock awards, net of shares withheld for employee taxes	(2,117)		$ 7	(16,742)				$ 14,618
Stock-based compensation	7,451			7,451
Other	(381)			(381)
Ending balance (in shares) at Dec. 31, 2020			112,223,000
Ending balance (in shares) at Dec. 31, 2020								4,368,000
Ending balance at Dec. 31, 2020	3,224,918		$ 11,222	511,956	2,911,006		(25,731)	$ (183,535)
Beginning balance (in shares) at Sep. 30, 2020			112,151,000
Beginning balance (in shares) at Sep. 30, 2020								4,663,000
Beginning balance at Sep. 30, 2020	3,318,514	$ (1,251)	$ 11,215	521,628	3,010,012	$ (1,251)	(26,188)	$ (198,153)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(246,989)
Other comprehensive income	1,374
Ending balance (in shares) at Jun. 30, 2021			112,223,000
Ending balance (in shares) at Jun. 30, 2021								4,324,000
Ending balance at Jun. 30, 2021	3,007,907		$ 11,222	523,281	2,679,859		(24,814)	$ (181,641)
Beginning balance (in shares) at Dec. 31, 2020			112,223,000
Beginning balance (in shares) at Dec. 31, 2020								4,368,000
Beginning balance at Dec. 31, 2020	3,224,918		$ 11,222	511,956	2,911,006		(25,731)	$ (183,535)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(121,003)				(121,003)
Other comprehensive income	457						457
Dividends declared	(27,268)				(27,268)
Vesting of restricted stock awards, net of shares withheld for employee taxes (in shares)								(39,000)
Vesting of restricted stock awards, net of shares withheld for employee taxes	0			(1,678)				$ 1,678
Stock-based compensation	6,826			6,826
Other	(234)			(234)
Ending balance (in shares) at Mar. 31, 2021			112,223,000
Ending balance (in shares) at Mar. 31, 2021								4,329,000
Ending balance at Mar. 31, 2021	3,083,696		$ 11,222	516,870	2,762,735		(25,274)	$ (181,857)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(55,555)				(55,555)
Other comprehensive income	460						460
Dividends declared	(27,321)				(27,321)
Vesting of restricted stock awards, net of shares withheld for employee taxes (in shares)								(5,000)
Vesting of restricted stock awards, net of shares withheld for employee taxes	(41)			(257)				$ 216
Stock-based compensation	6,963			6,963
Other	(295)			(295)
Ending balance (in shares) at Jun. 30, 2021			112,223,000
Ending balance (in shares) at Jun. 30, 2021								4,324,000
Ending balance at Jun. 30, 2021	$ 3,007,907		$ 11,222	523,281	2,679,859		(24,814)	$ (181,641)
Beginning balance (in shares) at Sep. 30, 2021	107,898,859		112,222,000
Beginning balance (in shares) at Sep. 30, 2021	4,324,006							4,324,000
Beginning balance at Sep. 30, 2021	$ 2,912,618		$ 11,222	529,903	2,573,375		(20,244)	$ (181,638)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(51,362)				(51,362)
Other comprehensive income	394						394
Dividends declared	(26,807)				(26,807)
Vesting of restricted stock awards, net of shares withheld for employee taxes (in shares)								(381,000)
Vesting of restricted stock awards, net of shares withheld for employee taxes	(4,112)			(21,152)				$ 17,040
Stock-based compensation	6,218			6,218
Share repurchases (in shares)								2,548,000
Share repurchases	(60,358)							$ (60,358)
Ending balance (in shares) at Dec. 31, 2021			112,222,000
Ending balance (in shares) at Dec. 31, 2021								6,491,000
Ending balance at Dec. 31, 2021	$ 2,776,591		$ 11,222	514,969	2,495,206		(19,850)	$ (224,956)
Beginning balance (in shares) at Sep. 30, 2021	107,898,859		112,222,000
Beginning balance (in shares) at Sep. 30, 2021	4,324,006							4,324,000
Beginning balance at Sep. 30, 2021	$ 2,912,618		$ 11,222	529,903	2,573,375		(20,244)	$ (181,638)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(38,586)
Other comprehensive income	$ 1,177
Ending balance (in shares) at Jun. 30, 2022	105,290,017		112,222,000
Ending balance (in shares) at Jun. 30, 2022	6,932,848							6,932,000
Ending balance at Jun. 30, 2022	$ 2,732,668		$ 11,222	521,439	2,454,726		(19,067)	$ (235,652)
Beginning balance (in shares) at Dec. 31, 2021			112,222,000
Beginning balance (in shares) at Dec. 31, 2021								6,491,000
Beginning balance at Dec. 31, 2021	2,776,591		$ 11,222	514,969	2,495,206		(19,850)	$ (224,956)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(4,976)				(4,976)
Other comprehensive income	394						394
Dividends declared	(26,565)				(26,565)
Vesting of restricted stock awards, net of shares withheld for employee taxes (in shares)								(161,000)
Vesting of restricted stock awards, net of shares withheld for employee taxes	(1,392)			(7,197)				$ 5,805
Stock-based compensation	7,945			7,945
Share repurchases (in shares)								607,000
Share repurchases	(16,641)							$ (16,641)
Other	(946)			(946)
Ending balance (in shares) at Mar. 31, 2022			112,222,000
Ending balance (in shares) at Mar. 31, 2022								6,937,000
Ending balance at Mar. 31, 2022	2,734,410		$ 11,222	514,771	2,463,665		(19,456)	$ (235,792)
Increase (Decrease) in Shareholders' Equity
Net income (loss)	17,752				17,752
Other comprehensive income	389						389
Dividends declared	(26,691)				(26,691)
Vesting of restricted stock awards, net of shares withheld for employee taxes (in shares)								(5,000)
Vesting of restricted stock awards, net of shares withheld for employee taxes	4			(136)				$ 140
Stock-based compensation	7,051			7,051
Other	$ (247)			(247)
Ending balance (in shares) at Jun. 30, 2022	105,290,017		112,222,000
Ending balance (in shares) at Jun. 30, 2022	6,932,848							6,932,000
Ending balance at Jun. 30, 2022	$ 2,732,668		$ 11,222	$ 521,439	$ 2,454,726		$ (19,067)	$ (235,652)

UNAUDITED CONDENSED CONSOLIDA_7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares		3 Months Ended
	May 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25

UNAUDITED CONDENSED CONSOLIDA_8

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS)	$ (38,586)	$ (246,989)
Adjustment for (income) loss from discontinued operations	106	(10,936)
Loss from continuing operations	(38,480)	(257,925)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	304,115	317,771
Asset impairment charge	4,363	56,414
Amortization of debt discount and debt issuance costs	880	994
Loss on extinguishment of debt	60,083	0
Provision for credit loss	1,022	8
Stock-based compensation	21,214	21,240
Gain on investment securities	(55,684)	(7,853)
Gain on reimbursement of drilling equipment	(21,597)	(10,207)
Other (gain) loss on sale of assets	(2,762)	12,952
Deferred income tax benefit	(36,614)	(66,102)
Other	(2,765)	8,849
Change in assets and liabilities:
Accounts receivable	(173,625)	(33,075)
Inventories of materials and supplies	(2,482)	14,073
Prepaid expenses and other	9,209	(1,638)
Other noncurrent assets	1,829	(3,337)
Accounts payable	46,775	24,908
Accrued liabilities	22,511	8,643
Deferred income tax liability	454	(36)
Other noncurrent liabilities	(21,745)	4,183
Net cash provided by operating activities from continuing operations	116,701	89,862
Net cash used in operating activities from discontinued operations	(60)	(41)
Net cash provided by operating activities	116,641	89,821
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(174,958)	(49,173)
Other capital expenditures related to assets held-for-sale	(18,228)	0
Purchase of short-term investments	(109,318)	(234,465)
Purchase of long-term investments	(47,210)	(2,319)
Proceeds from sale of short-term investments	161,766	139,430
Proceeds from sale of long-term investments	22,042	0
Proceeds from asset sales	50,260	26,775
Other	(7,500)	0
Net cash used in investing activities	(123,146)	(119,752)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid	(80,702)	(81,815)
Payments for employee taxes on net settlement of equity awards	(5,515)	(2,160)
Payment of contingent consideration from acquisition of business	(250)	(250)
Payments for early extinguishment of long-term debt	(487,148)	0
Make-whole premium payment	(56,421)	0
Share repurchases	(76,999)	0
Other	(587)	(719)
Net cash used in financing activities	(707,622)	(84,944)
Net decrease in cash and cash equivalents and restricted cash	(714,127)	(114,875)
Cash and cash equivalents and restricted cash, beginning of period	936,716	536,747
Cash and cash equivalents and restricted cash, end of period	222,589	421,872
Cash paid during the period:
Interest paid	10,889	11,642
Income tax paid (received), net	3,392	(31,826)
Cash paid for amounts included in the measurement of lease liabilities:
Payments for operating leases	9,255	13,353
Non-cash operating and investing activities:
Changes in accounts payable and accrued liabilities related to purchases of property, plant and equipment	(4,260)	(746)
Changes in accounts receivable, property, plant and equipment and other noncurrent assets related to the sale of equipment	0	9,290
Cumulative effect adjustment for adoption of ASU No. 2016-13	$ 0	$ (1,251)

NATURE OF OPERATIONS

NATURE OF OPERATIONS	9 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NOTE 1 NATURE OF OPERATIONS Helmerich & Payne, Inc. (“H&P,” which, together with its subsidiaries, is identified as the “Company,” “we,” “us,” or “our,” except where stated or the context requires otherwise) through its operating subsidiaries provides performance-driven drilling solutions and technologies that are intended to make hydrocarbon recovery safer and more economical for oil and gas exploration and production companies. Our drilling services operations are organized into the following reportable operating business segments: North America Solutions, Offshore Gulf of Mexico and International Solutions. Our real estate operations, our incubator program for new research and development projects and our wholly-owned captive insurance companies are included in "Other." Refer to Note 14—Business Segments and Geographic Information for further details on our reportable segments. Our North America Solutions operations are primarily located in Texas, but traditionally also operate in other states, depending upon demand. Such states include: Colorado, Louisiana, New Mexico, Nevada, North Dakota, Oklahoma, Pennsylvania, Utah, West Virginia and Wyoming. Additionally, our Offshore Gulf of Mexico operations are conducted in Louisiana and in U.S. federal waters in the Gulf of Mexico and in our International Solutions we have operations in four international locations: Argentina, Bahrain, Colombia and United Arab Emirates. We also own and operate limited commercial real estate properties. Our real estate assets, which are located exclusively within Tulsa, Oklahoma, include a shopping center and undeveloped real estate.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, RISKS AND UNCERTAINTIES	9 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, RISKS AND UNCERTAINTIES	NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, RISKS AND UNCERTAINTIES Interim Financial Information The accompanying Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) pertaining to interim financial information. Accordingly, these interim financial statements do not include all information or footnote disclosures required by GAAP for complete financial statements and, therefore, should be read in conjunction with the Consolidated Financial Statements and notes thereto in our 2021 Annual Report on Form 10-K and other current filings with the SEC. In the opinion of management, all adjustments, consisting of those of a normal recurring nature, necessary to present fairly the results of the periods presented have been included. The results of operations for the interim periods presented may not necessarily be indicative of the results to be expected for the full year. Principles of Consolidation The Unaudited Condensed Consolidated Financial Statements include the accounts of Helmerich & Payne, Inc. and its domestic and foreign subsidiaries. Consolidation of a subsidiary begins when the Company gains control over the subsidiary and ceases when the Company loses control of the subsidiary. Specifically, income and expenses of a subsidiary acquired or disposed of during the fiscal year are included in the Unaudited Condensed Consolidated Statements of Operations and Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) from the date the Company gains control until the date when the Company ceases to control the subsidiary. All intercompany accounts and transactions have been eliminated upon consolidation. Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents include cash on hand, demand deposits with banks and all highly liquid investments with original maturities of three months or less. Our cash, cash equivalents and short-term investments are subject to potential credit risk, and certain of our cash accounts carry balances greater than the federally insured limits. We had restricted cash of $33.9 million and $51.3 million at June 30, 2022 and 2021, respectively, and $19.2 million and $48.9 million at September 30, 2021 and 2020, respectively. Of the total restricted cash at June 30, 2022 and September 30, 2021, $1.1 million and $1.5 million, respectively, is related to the acquisition of drilling technology companies, and $32.8 million and $17.7 million, respectively, represents an amount management has elected to restrict for the purpose of potential insurance claims in our wholly-owned captive insurance companies. The restricted amounts are primarily invested in short-term money market securities. The cash, cash equivalents, and restricted cash are reflected within the following line items on the Unaudited Condensed Consolidated Balance Sheets: June 30, September 30, (in thousands) 2022 2021 2021 2020 Cash and cash equivalents $ 188,663 $ 370,553 $ 917,534 $ 487,884 Restricted cash Prepaid expenses and other, net 33,242 48,434 18,350 45,577 Other assets, net 684 2,885 832 3,286 Total cash, cash equivalents, and restricted cash $ 222,589 $ 421,872 $ 936,716 $ 536,747 During the nine months ended June 30, 2022, our cash, cash equivalents, and restricted cash balance decreased approximately $714.1 million compared to our balance at September 30, 2021. This change was primarily driven by the redemption of all the outstanding 2025 Notes, resulting in a cash outflow of $487.1 million during the nine months ended June 30, 2022. Additionally, the associated make-whole premium of $56.4 million was paid during the first fiscal quarter of 2022 contemporaneously with the October 27, 2021 debt extinguishment. Recently Issued Accounting Updates Changes to U.S. GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of Accounting Standards Updates ("ASUs") to the FASB Accounting Standards Codification ("ASC"). We consider the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable, clarifications of ASUs listed below, immaterial, or already adopted by the Company. The following table provides a brief description of a recently adopted accounting pronouncement and our analysis of the effects on our financial statements: Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters Recently Adopted Accounting Pronouncements ASU No. 2019-12, Financial Instruments – Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes This ASU simplifies the accounting for income taxes by removing certain exceptions related to Topic 740. The ASU also improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This update is effective for annual and interim periods beginning after December 15, 2020. Early adoption of the amendment is permitted, including adoption in any interim period for public entities for periods for which financial statements have not yet been issued. An entity that elects to early adopt the amendments in an interim period should reflect any adjustments as of the beginning of the annual period that includes that interim period. Additionally, an entity that elects early adoption must adopt all the amendments in the same period. Upon adoption, the amendments addressed in this ASU will be applied either prospectively, retrospectively or on a modified retrospective basis through a cumulative effect adjustment to retained earnings. This update is effective for annual periods beginning after December 15, 2020. October 1, 2021 We adopted this ASU during the first quarter of fiscal year 2022. The adoption did not have a material effect on our Unaudited Condensed Consolidated Financial Statements and disclosures. Standards that are not yet adopted as of June 30, 2022 ASU No. 2020-06, 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 This ASU reduces the complexity of accounting for convertible debt and other equity-linked instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock. Limiting the accounting models results in fewer embedded conversion features being separately recognized from the host contract as compared with current GAAP. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. This update is effective for annual and interim periods beginning after December 15,2021. Early adoption of the amendment is permitted. October 1, 2022 We plan to adopt this ASU, as required, during the first quarter of fiscal year 2023. Although we are currently evaluating the impact the new guidance may have on our Unaudited Condensed Consolidated Financial Statements and disclosures, we do not believe the adoption will have a material effect thereon. ASU No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions The amendments in this update clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value (i.e., the entity would not apply a discount related to the contractual sale restriction). Furthermore, an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The following disclosures for equity securities subject to contractual sale restrictions will be required: (1) the fair value of the equity securities subject to contractual sale restrictions reflected in the balance sheet, (2) the nature and remaining duration of the restriction(s), and (3) the circumstances that could cause a lapse in the restriction(s). This update is effective for annual and interim periods beginning after December 15, 2023. Early adoption of the amendment is permitted for both interim and annual financial statements. October 1, 2022 We plan to early adopt this ASU during the first quarter of fiscal year 2023. Although we are currently evaluating the impact the new guidance may have on our Unaudited Condensed Consolidated Financial Statements and disclosures, we do not believe the adoption will have a material effect thereon. Self-Insurance Our wholly-owned insurance captives ("Captives") incurred direct operating costs consisting primarily of adjustments to accruals for estimated losses of $3.1 million and $6.0 million for the three months ended June 30, 2022 and 2021, respectively, and $2.7 million and $8.8 million for the nine months ended June 30, 2022 and 2021, respectively, and rig casualty insurance premiums of $9.4 million and $5.6 million for the three months ended June 30, 2022 and 2021, respectively, and $26.2 million and $13.1 million for the nine months ended June 30, 2022 and 2021, respectively, and were recorded within drilling services operating expenses in our Unaudited Condensed Consolidated Statement of Operations. Intercompany premium revenues recorded by the Captives amounted to $14.7 million and $9.4 million during the three months ended June 30, 2022 and 2021, respectively, and $41.6 million and $25.2 million during the nine months ended June 30, 2022 and 2021, respectively, which were eliminated upon consolidation. These intercompany insurance premiums are reflected as segment operating expenses within the North America Solutions, Offshore Gulf of Mexico, and International Solutions reportable operating segments and are reflected as intersegment sales within "Other." The Company self-insures employee health plan exposures in excess of employee deductibles. Starting in the second quarter of fiscal year 2020, the Captives issued a stop-loss program that will reimburse the Company's health plan for claims that exceed $50,000. This program is reviewed at the end of each policy year by an outside actuary. Our medical stop loss operating expenses for the three months ended June 30, 2022 and 2021 were $3.8 million and $3.2 million, respectively, and $10.6 million and $8.7 million for the nine months ended June 30, 2022 and 2021, respectively. International Solutions Drilling Risks International Solutions drilling operations may significantly contribute to our revenues and net operating income (loss). There can be no assurance that we will be able to successfully conduct such operations, and a failure to do so may have an adverse effect on our financial position, results of operations, and cash flows. Also, the success of our International Solutions operations will be subject to numerous contingencies, some of which are beyond management’s control. These contingencies include general and regional economic conditions, fluctuations in currency exchange rates, modified exchange controls, changes in international regulatory requirements and international employment issues, risk of expropriation of real and personal property and the burden of complying with foreign laws. Additionally, in the event that extended labor strikes occur or a country experiences significant political, economic or social instability, we could experience shortages in labor and/or material and supplies necessary to operate some of our drilling rigs, thereby potentially causing an adverse material effect on our business, financial condition and results of operations. We have also experienced certain risks specific to our Argentine operations. In Argentina, while our dayrate is denominated in U.S. dollars, we are paid the equivalent in Argentine pesos. The Argentine branch of one of our second-tier subsidiaries remits U.S. dollars to its U.S. parent by converting the Argentine pesos into U.S. dollars through the Argentine Foreign Exchange Market and repatriating the U.S. dollars. Argentina also has a history of implementing currency controls that restrict the conversion and repatriation of U.S. dollars. In September 2020, Argentina implemented additional currency controls in an effort to preserve Argentina's U.S. dollar reserves. As a result of these currency controls, our ability to remit funds from our Argentine subsidiary to its U.S. parent has been limited. In the past, the Argentine government has also instituted price controls on crude oil, diesel and gasoline prices and instituted an exchange rate freeze in connection with those prices. These price controls and an exchange rate freeze could be instituted again in the future. Further, there are additional concerns regarding Argentina's debt burden, notwithstanding Argentina's restructuring deal with international bondholders in August 2020, as Argentina attempts to manage its substantial sovereign debt issues. These concerns could further negatively impact Argentina's economy and adversely affect our Argentine operations. Argentina’s economy is considered highly inflationary, which is defined as cumulative inflation rates exceeding 100 percent in the most recent three-year period based on inflation data published by the respective governments. Nonetheless, all of our foreign subsidiaries use the U.S. dollar as the functional currency and local currency monetary assets and liabilities are remeasured into U.S. dollars with gains and losses resulting from foreign currency transactions included in current results of operations. We recorded aggregate foreign currency losses of $1.2 million and $0.7 million for the three months ended June 30, 2022 and 2021, and $4.5 million and $4.9 million for the nine months ended June 30, 2022 and 2021, respectively. In the future, we may incur larger currency devaluations, foreign exchange restrictions or other difficulties repatriating U.S. dollars from Argentina or elsewhere, which could have a material adverse impact on our business, financial condition and results of operations. As of June 30, 2022, our cash balance in Argentina was $3.8 million. Because of the impact of local laws, our future operations in certain areas may be conducted through entities in which local citizens own interests and through entities (including joint ventures) in which we hold only a minority interest or pursuant to arrangements under which we conduct operations under contract to local entities. While we believe that neither operating through such entities nor pursuant to such arrangements would have a material adverse effect on our operations or revenues, there can be no assurance that we will in all cases be able to structure or restructure our operations to conform to local law (or the administration thereof) on terms acceptable to us.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	NOTE 3 DISCONTINUED OPERATIONS Noncurrent liabilities from discontinued operations include an uncertain tax liability related to the country of Venezuela. Expenses incurred for in-country obligations are reported as discontinued operations within our Unaudited Condensed Consolidated Statements of Operations. The activity for the three and nine months ended June 30, 2022 and 2021 was primarily due to the remeasurement of an uncertain tax liability as a result of the devaluation of the Venezuelan Bolivar. Early in 2018, the Venezuelan government announced that it changed the existing dual-rate foreign currency exchange system by eliminating its heavily subsidized foreign exchange rate, which was 10 Bolivars per United States dollar, and relaunched an exchange system known as DICOM. The Venezuelan government also established a new currency called the “Sovereign Bolivar,” which was determined by the elimination of five zeros from the old currency. The DICOM floating rate was approximately 4,181,782 and 3,220,598 Bolivars per United States dollar at September 30, 2021, and June 30, 2021, respectively. In October 2021, the Venezuelan government launched another monetary overhaul by cutting six zeros from the Bolivar in response to hyperinflation and to simplify accounting. As such, as of June 30, 2022, the DICOM floating rate was approximately six Bolivars per United States dollar. The DICOM floating rate might not reflect the barter market exchange rates.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	NOTE 4 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment as of June 30, 2022 and September 30, 2021 consisted of the following: (in thousands) Estimated Useful Lives June 30, 2022 September 30, 2021 Drilling services equipment 4 - 15 years $ 6,327,863 $ 6,229,011 Tubulars 4 years 573,514 573,900 Real estate properties 10 - 45 years 45,308 43,302 Other 2 - 23 years 416,163 459,741 Construction in progress (1) 54,931 47,587 7,417,779 7,353,541 Accumulated depreciation (4,430,672) (4,226,254) Property, plant and equipment, net $ 2,987,107 $ 3,127,287 Assets held-for-sale $ 25,604 $ 71,453 (1) Included in construction in progress are costs for projects in progress to upgrade or refurbish certain rigs in our existing fleet. Additionally, we include other capital maintenance purchase orders that are open/in process. As these various projects are completed, the costs are then classified to their appropriate useful life category. Depreciation Depreciation expense in the Unaudited Condensed Consolidated Statements of Operations was $97.5 million and $102.7 million, including $1.4 million and $1.3 million in abandonments, for the three months ended June 30, 2022 and 2021, respectively. Depreciation expense in the Unaudited Condensed Consolidated Statements of Operations was $293.5 million and $312.4 million, including $5.2 million and $1.7 million in abandonments for the nine months ended June 30, 2022 and 2021, respectively. Assets Held-for-Sale The following table reconciles changes in the balance (in thousands) of our assets held-for-sale at the dates indicated below: Balance at September 30, 2021 $ 71,453 Additions 1,459 Sales (47,308) Balance at June 30, 2022 $ 25,604 In March 2021, the Company's leadership continued the execution of the current strategy focusing on operating various types of highly capable upgraded rigs and phasing out the older, less capable fleet. As a result, the Company has undertaken a plan to sell 71 Domestic non-super-spec rigs, all within our North America Solutions segment, the majority of which were previously decommissioned, written down and/or held as capital spares. The book values of those assets were written down to $13.5 million, which represented their fair value less estimated costs to sell, and were reclassified as held-for-sale in the second and third quarters of fiscal year 2021. During the fiscal year ended September 30, 2021, we completed the sale of a portion of the assets with a net book value of $6.5 million that were originally classified as held-for-sale during the second and third quarters of fiscal year 2021. Additionally, during the nine months ended June 30, 2022, we completed the sale of a portion of the remaining assets with a net book value of $1.9 million that were originally classified as held-for-sale during the second and third quarters of fiscal year 2021. During September 2021, the Company agreed to sell eight FlexRig ® land rigs with an aggregate net book value of $55.6 million to ADNOC Drilling Company P.J.S.C. ("ADNOC Drilling") for $86.5 million. Two of the eight rigs were already located in the U.A.E where ADNOC Drilling is domiciled with the remaining six rigs to be shipped from the United States. We received the $86.5 million in cash consideration in advance of delivering the rigs. As part of the sales agreement, the rigs are being delivered and commissioned in stages over a twelve-month period subject to acceptance upon successful completion of final inspection on customary terms and conditions. As of June 30, 2022, ADNOC Drilling accepted delivery of five rigs with an aggregate net book value of $34.5 million and, as a result, we recognized a gain of $1.1 million, after incurring $15.7 million of selling costs, during the nine months ended June 30, 2022. Upon final acceptance of delivery, these rigs were removed from assets classified as held-for-sale as of June 30, 2022. The gains are recorded in Other (Gain) Loss on Sale of Assets within our Unaudited Condensed Consolidated Statement of Operations for the three and nine months ended June 30, 2022. The remaining cash proceeds received in advance of rig delivery and acceptance of $35.3 million is recorded in Accrued Liabilities within our Unaudited Condensed Consolidated Balance Sheets as of June 30, 2022. Additionally, the three remaining rigs not yet delivered and accepted are classified as held-for-sale in the Unaudited Condensed Consolidated Balance Sheets until each rig is delivered and accepted, at which time any related gain/loss on the sale will be recognized in the Unaudited Condensed Consolidated Statement of Operations. Estimated cost to sell related to the remaining rigs is approximately $12.9 million, including approximately $6.9 million of expenses incurred during the nine months ended June 30, 2022, and approximately $6.0 million of expenses to be incurred in future periods. We paid approximately $18.2 million in cash charges related to costs to sell for the eight rigs during the nine months ended June 30, 2022. During the fiscal year ended September 30, 2021, we formalized a plan to sell assets related to two of our lower margin service offerings, trucking and casing running assets, which contributed approximately 2.8 percent to our consolidated revenues during fiscal year 2021, all within our North America Solutions segment. The combined net book values of these assets of $23.2 million were written down to their combined fair value less estimated cost to sell of $8.8 million, and were reclassified as held-for-sale during the fourth quarter of fiscal year 2021. During the nine months ended June 30, 2022, we closed on the sale of these assets in two separate transactions. The sale of our trucking assets was completed on November 3, 2021 while the sale of our casing running assets was completed on November 15, 2021 for total consideration less costs to sell of $6.0 million, in addition to the possibility of future earnout revenue, resulting in a loss of $3.4 million. Losses related to the sale of these assets are recorded in Other (Gain) Loss on Sale of Assets within our Unaudited Condensed Consolidated Statements of Operations. During the first quarter of fiscal year 2022, we identified two partial rig substructures that met the asset held-for-sale criteria and were reclassified as assets held-for-sale on our Unaudited Condensed Consolidated Balance Sheets. The combined net book value of the rig substructures of $2.0 million were written down to their estimated scrap value of $0.1 million, resulting in a non-cash impairment charge of $1.9 million within our North America Solutions segment and recorded in the Unaudited Condensed Consolidated Statement of Operations for the nine months ended June 30, 2022. During the second quarter of fiscal year 2022, we completed the sale of a portion of the assets with a net book value of approximately $0.1 million, resulting in no gain or loss as a result of the sale. During the first quarter of fiscal year 2022, we identified two international FlexRig ® drilling rigs located in Colombia that met the asset held-for-sale criteria and were reclassified as assets held-for-sale on our Unaudited Condensed Consolidated Balance Sheets. In conjunction with establishing a plan to sell the two international FlexRig ® drilling rigs, we recognized a non-cash impairment charge of $2.5 million within our International Solutions segment and recorded in the Unaudited Condensed Consolidated Statement of Operations during the nine months ended June 30, 2022, as the rigs aggregate net book value of $3.4 million exceeded the fair value of the rigs less estimated cost to sell of $0.9 million. During the second quarter of fiscal year 2022, we completed the sale of the two international FlexRig ® drilling rigs for total consideration of $0.9 million, resulting in no gain or loss as a result of the sale. The significant assumptions utilized in the valuation of assets held-for-sale were based on our intended method of disposal, historical sales of similar assets, and market quotes and are classified as Level 2 and Level 3 inputs by ASC Topic 820, Fair Value Measurement and Disclosures. Although we believe the assumptions used in our analysis are reasonable and appropriate, different assumptions and estimates could materially impact the analysis and our resulting conclusion. (Gain)/Loss on Sale of Assets We had a gain of $9.9 million and $21.6 million, during the three and nine months ended June 30, 2022, respectively, and $4.3 million and $10.2 million, during the three and nine months ended June 30, 2021, respectively, related to customer reimbursement for the replacement value of lost or damaged drill pipe. Gains related to these asset sales are recorded in Gains on Reimbursement of Drilling Equipment within our Unaudited Condensed Consolidated Statements of Operations. During the three and nine months ended June 30, 2022, we had a gain of $3.1 million and $2.8 million, respectively, related to the sale of rig equipment and other capital assets. During the first quarter of fiscal year 2022, we closed on the sale of our trucking and casing running assets resulting in a loss of $3.4 million, as mentioned above. During the second quarter of fiscal year 2022, ADNOC Drilling accepted delivery of two rigs resulting in a gain of $1.2 million. During the third quarter of fiscal year 2022, ADNOC Drilling accepted delivery of three rigs which resulted in a nominal loss of $26.6 thousand. The (gain) loss related to the sale of these assets are recorded in Other (Gain) Loss on Sale of Assets within our Unaudited Condensed Consolidated Statements of Operations.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	NOTE 5 GOODWILL AND INTANGIBLE ASSETS Goodwill Goodwill represents the excess of the purchase price over the fair values of the assets acquired and liabilities assumed in a business combination, at the date of acquisition. Goodwill is not amortized but is tested for potential impairment at the reporting unit level, at a minimum on an annual basis, or when indications of potential impairment exist. All of our goodwill is within our North America Solutions reportable segment. During the three and nine months ended June 30, 2022, we had no additions or impairments to goodwill. As of June 30, 2022 and September 30, 2021, the goodwill balance was $45.7 million . Intangible Assets Finite-lived intangible assets are amortized using the straight-line method over the period in which these assets contribute to our cash flows and are evaluated for impairment in accordance with our policies for valuation of long-lived assets. All of our intangible assets are within our North America Solutions reportable segment. Intangible assets consist of the following: June 30, 2022 September 30, 2021 (in thousands) Weighted Average Estimated Useful Lives Gross Accumulated Net Gross Accumulated Net Finite-lived intangible asset: Developed technology 15 years $ 89,096 $ 26,648 $ 62,448 $ 89,096 $ 22,182 $ 66,914 Intellectual property 13 years 2,000 300 1,700 1,500 216 1,284 Trade name 20 years 5,865 1,396 4,469 5,865 1,158 4,707 Customer relationships 5 years 4,000 3,667 333 4,000 3,067 933 $ 100,961 $ 32,011 $ 68,950 $ 100,461 $ 26,623 $ 73,838 Amortization expense in the Unaudited Condensed Consolidated Statements of Operations was $1.8 million for both the three months ended June 30, 2022 and 2021, and $5.4 million for both the nine months ended June 30, 2022 and 2021. A mortization is estimated to be approximately $1.8 million for the remainder of fiscal year 2022, approximately $6.6 million for fiscal year 2023, and approximately $6.4 million for fiscal years 2024, 2025 and 2026.

DEBT

DEBT	9 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
DEBT	NOTE 6 DEBT We had the following unsecured long-term debt outstanding with maturities shown in the following table: June 30, 2022 September 30, 2021 (in thousands) Face Unamortized Book Face Unamortized Book Unsecured senior notes: Due March 19, 2025 $ — $ — $ — $ 487,148 $ (3,662) $ 483,486 Due September 29, 2031 550,000 (7,710) 542,290 550,000 (8,003) 541,997 550,000 (7,710) 542,290 1,037,148 (11,665) 1,025,483 Less long-term debt due within one year — — — (487,148) 3,662 (483,486) Long-term debt $ 550,000 $ (7,710) $ 542,290 $ 550,000 $ (8,003) $ 541,997 Senior Notes 2.90% Senior Notes due 2031 On September 29, 2021, we issued $550.0 million aggregate principal amount of 2.90 percent 2031 Notes in an offering to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act (“Rule 144A”) and to certain non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act (“Regulation S”). Interest on the 2031 Notes is payable semi-annually on March 29 and September 29 of each year, commencing on March 29, 2022. The 2031 Notes will mature on September 29, 2031 and bear interest at a rate of 2.90 percent per annum. The indenture governing the 2031 Notes contains certain covenants that, among other things and subject to certain exceptions, limit the ability of the Company and its subsidiaries to incur certain liens; engage in sale and lease-back transactions; and consolidate, merge or transfer all or substantially all of the assets of the Company. The indenture governing the 2031 Notes also contains customary events of default with respect to the 2031 Notes. 4.65% Senior Notes due 2025 On December 20, 2018, we issued approximately $487.1 million in aggregate principal amount of the 2025 Notes. Interest on the 2025 Notes was payable semi-annually on March 15 and September 15 of each year, commencing on March 15, 2019. The debt issuance cost was being amortized straight-line over the stated life of the obligation, which approximated the effective interest method. On September 27, 2021, the Company delivered a conditional notice of optional full redemption for all of the outstanding 2025 Notes at a redemption price calculated in accordance with the indenture governing the 2025 Notes, plus accrued and unpaid interest on the 2025 Notes to be redeemed. The Company financed the redemption of the 2025 Notes with the net proceeds from the offering of the 2031 Notes, together with cash on hand. The Company’s obligation to redeem the 2025 Notes was conditioned upon the prior consummation of the issuance of the 2031 Notes, which was satisfied on September 29, 2021. On October 27, 2021, we redeemed all of the outstanding 2025 Notes. As a result, the associated make-whole premium of $56.4 million and the write off of the unamortized discount and debt issuance costs of $3.7 million were recognized during the first fiscal quarter of 2022 contemporaneously with the October 27, 2021 debt extinguishment and recorded in Loss on Extinguishment of Debt on our Unaudited Condensed Consolidated Statements of Operations during the nine months ended June 30, 2022. Credit Facilities On November 13, 2018, we entered into a credit agreement by and among the Company, as borrower, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto, which was amended on November 13, 2019, providing for an unsecured revolving credit facility (as amended, the “2018 Credit Facility”), that was set to mature on November 13, 2024. On April 16, 2021, lenders with $680.0 million of commitments under the 2018 Credit Facility exercised their option to extend the maturity of the 2018 Credit Facility from November 13, 2024 to November 12, 2025. The remaining $70.0 million of commitments under the 2018 Credit Facility will expire on November 13, 2024, unless extended by the applicable lender before such date. Additionally, on March 8, 2022, we entered into the second amendment to the 2018 Credit Facility, which, among other things, raised the number of potential future extensions of the maturity date applicable to extending lenders from one to two such potential extensions and replaced provisions in respect of interest rate determinations that were based on the London Interbank Offered Rate with provisions based on the Secured Overnight Financing Rate. Lenders with $680.0 million of commitments under the 2018 Credit Facility also exercised their option to extend the maturity of the 2018 Credit Facility from November 12, 2025 to November 11, 2026. The remaining $70.0 million of commitments under the 2018 Credit Facility will expire on November 13, 2024, unless extended by the applicable lender before such date. The 2018 Credit Facility has $750.0 million in aggregate availability with a maximum of $75.0 million available for use as letters of credit. As of June 30, 2022, there were no borrowings or letters of credit outstanding, leaving $750.0 million available to borrow under the 2018 Credit Facility. For a full description of the 2018 Credit Facility, see Note 7—Debt to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K. As of June 30, 2022, we had four separate bi-lateral credit facilities with banks with an aggregate outstanding balance of $33.8 million. As of June 30, 2022, we also had a $20.0 million unsecured standalone line of credit facility, for the purpose of obtaining the issuance of international letters of credit, bank guarantees, and performance bonds. Of the $20.0 million, $5.8 million of financial guarantees were outstanding as of June 30, 2022. The applicable agreements for all unsecured debt contain additional terms, conditions and restrictions that we believe are usual and customary in unsecured debt arrangements for companies that are similar in size and credit quality. At June 30, 2022, we were in compliance with all debt covenants.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 7 INCOME TAXES Although in the second quarter of fiscal year 2022 we anticipated using the discrete effective tax method to calculate income taxes for the remainder of the fiscal year, we used the estimated annual effective tax rate to calculate the income tax provision for the three and nine months ended June 30, 2022 as the estimated annual effective tax rate provides a reliable estimate. In calculating our estimated annual effective tax rate, we consider forecasted annual pre-tax income and estimated permanent book versus tax differences. Adjustments to the effective tax rate and estimates could occur during the year as information and assumptions change, including, but not limited to, changes to the forecasted amounts, estimates of permanent book versus tax differences, and changes to tax laws and rates. Our income tax expense (benefit) from continuing operations for the three months ended June 30, 2022 and 2021 was $1.7 million and $(23.7) million, respectively, resulting in effective tax rates of 9.0 percent and 29.4 percent, respectively. Our income tax expense (benefit) from continuing operations for the nine months ended June 30, 2022 and 2021 was $(3.2) million and $(78.4) million, respectively, resulting in effective tax rates of 7.6 percent and 23.3 percent, respectively. Effective tax rates differ from the U.S. federal statutory rate of 21.0 percent for the three and nine months ended June 30, 2022 and 2021 primarily due to state and foreign income taxes, permanent non-deductible items and discrete adjustments. The discrete adjustments for the nine months ended June 30, 2022 and 2021 are primarily due to changes in our deferred state income tax rate, return to provision adjustments, and equity compensation. For the next 12 months, we cannot predict with certainty whether we will achieve ultimate resolution of any uncertain tax positions associated with our U.S. and international operations that could result in increases or decreases of our unrecognized tax benefits. However, we do not expect these increases or decreases to have a material effect on our results of continuing operations or financial position.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	NOTE 8 SHAREHOLDERS’ EQUITY The Company has an evergreen authorization from the Board of Directors (the "Board") for the repurchase of up to four million common shares in any calendar year. The repurchases may be made using our cash and cash equivalents or other available sources. During the nine months ended June 30, 2022, we repurchased 3.2 million common shares at an aggregate cost of $77.0 million, respectively, which are held as treasury shares. There were no repurchases of common shares during the nine months ended June 30, 2021. A cash dividend of $0.25 per share was declared on March 2, 2022 for shareholders of record on May 13, 2022, and was paid on May 27, 2022. An additional cash dividend of $0.25 per share was declared on May 31, 2022 for shareholders of record on August 17, 2022, payable on September 1, 2022. As a result, we recorded a dividend payable of $26.7 million within Dividends Payable on our Unaudited Condensed Consolidated Balance Sheets as of June 30, 2022. Accumulated Other Comprehensive Loss Components of accumulated other comprehensive loss were as follows: (in thousands) June 30, September 30, Pre-tax amounts: Unrecognized net actuarial loss $ (24,747) $ (26,268) (24,747) (26,268) After-tax amounts: Unrecognized net actuarial loss (19,067) (20,244) $ (19,067) $ (20,244) The following is a summary of the changes in accumulated other comprehensive loss, net of tax, related to the defined benefit pension plan for the three and nine months ended June 30, 2022: (in thousands) Three Months Ended June 30, 2022 Nine Months Ended June 30, 2022 Balance at beginning of period $ (19,456) $ (20,244) Activity during the period Amounts reclassified from accumulated other comprehensive loss 389 1,177 Net current-period other comprehensive income 389 1,177 Balance at June 30, 2022 $ (19,067) $ (19,067)

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	9 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	NOTE 9 REVENUE FROM CONTRACTS WITH CUSTOMERS Drilling Services Revenue The releases for rigs under term contracts result in early termination compensation owed to us. During the three months ended June 30, 2022 and 2021, we recognized no early termination revenue associated with term contracts, compared to $0.7 million and $7.7 million recognized during the nine months ended June 30, 2022 and 2021 respectively. With most drilling contracts, we also receive payments contractually designated for the mobilization and demobilization of drilling rigs and other equipment to and from the client’s drill site. Revenue associated with the mobilization and demobilization of our drilling rigs to and from the client’s drill site do not relate to a distinct good or service. These revenues are deferred and recognized ratably over the related contract term that drilling services are provided. For any contracts that include a provision for pooled term days at contract inception, followed by the assignment of days to specific rigs throughout the contract term, we have elected, as a practical expedient, to recognize revenue in the amount to which the entity has a right to invoice, as permitted by ASC 606. On November 12, 2021, we settled a drilling contract dispute related to drilling services provided from fiscal years 2016 through 2019 with YPF S.A. (Argentina) ("YPF"). The settlement required that YPF make a one-time cash payment to H&P in the amount of $11.0 million and enter into drilling service contracts for three drilling rigs, each with multi-year terms. In addition, both parties were released of all outstanding claims against each other, and as a result, H&P recognized $5.4 million in revenue primarily due to accrued contingent liabilities for disputed amounts. Total revenue recognized as a result of the settlement in the amount of $16.4 million is included in Drilling Services Revenue within the International Solutions segment on our Unaudited Condensed Consolidated Statements of Operations for the nine months ended June 30, 2022. Contract Costs We had capitalized fulfillment costs of $7.9 million and $4.3 million as of June 30, 2022 and September 30, 2021, respectively. Remaining Performance Obligations The total aggregate transaction price allocated to the unsatisfied performance obligations, commonly referred to as backlog, as of June 30, 2022 was approximately $862.2 million, of which approximately $338.7 million is expected to be recognized during the remainder of fiscal year 2022, approximately $408.6 million during fiscal year 2023, and approximately $114.9 million during fiscal year 2024 and thereafter. These amounts do not include anticipated contract renewals. Additionally, contracts that currently contain month-to-month terms are represented in our backlog as one month of unsatisfied performance obligations. Our contracts are subject to cancellation or modification at the election of the customer, but also carry certain early termination provisions customers abide by in cases of cancellation or modification. Due to the level of capital deployed by our customers on underlying projects, we have not been materially adversely affected by contract cancellations or modifications in the past. Contract Assets and Liabilities The following tables summarize the balances of our contract assets (net of allowance for estimated credit losses) and liabilities at the dates indicated below: (in thousands) June 30, 2022 September 30, 2021 Contract assets, net $ 5,772 $ 4,513 (in thousands) June 30, 2022 Contract liabilities balance at September 30, 2021 $ 9,286 Payment received/accrued and deferred 36,353 Revenue recognized during the period (28,610) Contract liabilities balance at June 30, 2022 $ 17,029

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 10 STOCK-BASED COMPENSATION A summary of compensation cost for stock-based payment arrangements recognized in drilling services operating expense, research and development expense and selling, general and administrative expense on our Unaudited Condensed Consolidated Statements of Operations is as follows: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2022 2021 2022 2021 Stock-based compensation expense Drilling services operating $ 1,340 $ 1,362 $ 3,862 $ 4,654 Research and development 400 351 1,146 958 Selling, general and administrative 5,311 5,250 16,206 15,628 $ 7,051 $ 6,963 $ 21,214 $ 21,240 Restricted Stock A summary of the status of our restricted stock awards as of June 30, 2022 and changes in non-vested restricted stock outstanding during the nine months then ended is presented below: (in thousands, except per share amounts) Shares (1) Weighted Average Grant Date Fair Value per Share Non-vested restricted stock outstanding at September 30, 2021 1,412 $ 37.36 Granted 744 25.83 Vested (2) (606) 39.88 Forfeited (53) 30.82 Non-vested restricted stock outstanding at June 30, 2022 1,497 $ 30.85 (1) Restricted stock shares include restricted phantom stock units under our Director Deferred Compensation Plan. These phantom stock units confer the economic benefits of owning company stock without the actual ownership, transfer or issuance of any shares. During the nine months ended June 30, 2022, 14,199 restricted phantom stock units were granted and 18,906 restricted phantom stock units vested during the same period. (2) The number of restricted stock awards vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements. Performance Units A summary of the status of our performance-vested restricted share units ("performance units") as of June 30, 2022 and changes in non-vested performance units outstanding during the nine months ended is presented below: (in thousands, except per share amounts) Performance Units Weighted Average Grant Date Fair Value per Performance Unit Non-vested performance units outstanding at September 30, 2021 699 $ 41.55 Granted 227 30.12 Vested (1) (161) 62.66 Dividend equivalent right performance units credited 11 32.47 Forfeited (54) 34.16 Non-vested performance units outstanding at June 30, 2022 (2) 722 $ 33.67 (1) The number of performance units vested includes units that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements. (2) Of the total non-vested performance units at the end of the period, specified performance criteria has been achieved with respect to 96,197 performance units which is calculated based on the payout percentage for the completed performance cycle. The vesting and number of the remainder of non-vested performance units reflected at the end of the period is contingent upon our achievement of specified target performance criteria. If we meet the specified maximum performance criteria, approximately 1,097,404 additional performance units could vest or become eligible to vest.

EARNINGS (LOSSES) PER COMMON SH

EARNINGS (LOSSES) PER COMMON SHARE	9 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
EARNINGS (LOSSES) PER COMMON SHARE	NOTE 11 EARNINGS (LOSSES) PER COMMON SHARE ASC 260, Earnings per Share, requires companies to treat unvested share-based payment awards that have non-forfeitable rights to dividends or dividend equivalents as a separate class of securities in calculating earnings per share. We have granted and expect to continue to grant to employees restricted stock grants that contain non-forfeitable rights to dividends. Such grants are considered participating securities under ASC 260. As such, we are required to include these grants in the calculation of our basic earnings per share and calculate basic earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. Basic earnings per share is computed utilizing the two-class method and is calculated based on the weighted-average number of common shares outstanding during the periods presented. Diluted earnings per share is computed using the weighted-average number of common and common equivalent shares outstanding during the periods utilizing the two-class method for stock options, non-vested restricted stock and performance units. Under the two-class method of calculating earnings per share, dividends paid and a portion of undistributed net income, but not losses, are allocated to unvested restricted stock grants that receive dividends, which are considered participating securities. The following table sets forth the computation of basic and diluted earnings (loss) per share: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2022 2021 2022 2021 Numerator: Income (loss) from continuing operations $ 17,475 $ (56,705) $ (38,480) $ (257,925) Income (loss) from discontinued operations 277 1,150 (106) 10,936 Net income (loss) 17,752 (55,555) (38,586) (246,989) Adjustment for basic earnings (loss) per share Earnings allocated to unvested shareholders (368) (348) (1,138) (1,002) Numerator for basic earnings (loss) per share: From continuing operations 17,107 (57,053) (39,618) (258,927) From discontinued operations 277 1,150 (106) 10,936 17,384 (55,903) (39,724) (247,991) Numerator for diluted earnings (loss) per share: From continuing operations 17,107 (57,053) (39,618) (258,927) From discontinued operations 277 1,150 (106) 10,936 $ 17,384 $ (55,903) $ (39,724) $ (247,991) Denominator: Denominator for basic earnings (loss) per share - weighted-average shares 105,289 107,896 106,092 107,790 Effect of dilutive shares from stock options, restricted stock and performance units 732 — — — Denominator for diluted earnings (loss) per share - adjusted weighted-average shares 106,021 107,896 106,092 107,790 Basic earnings (loss) per common share: Income (loss) from continuing operations $ 0.16 $ (0.53) $ (0.37) $ (2.40) Income from discontinued operations — 0.01 — 0.10 Net loss $ 0.16 $ (0.52) $ (0.37) $ (2.30) Diluted earnings (loss) per common share: Income (loss) from continuing operations $ 0.16 $ (0.53) $ (0.37) $ (2.40) Income from discontinued operations — 0.01 — 0.10 Net loss $ 0.16 $ (0.52) $ (0.37) $ (2.30) We had a net loss for all periods presented above except for the three months ended June 30, 2022. Accordingly, our diluted loss per share calculation for these periods were equivalent to our basic loss per share calculation since diluted loss per share excluded any assumed exercise of equity awards. These were excluded because they were deemed to be anti-dilutive, meaning their inclusion would have reduced the reported net loss per share in the applicable period. The following potentially dilutive average shares attributable to outstanding equity awards were excluded from the calculation of diluted earnings (loss) per share because their inclusion would have been anti-dilutive: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2022 2021 2022 2021 Potentially dilutive shares excluded as anti-dilutive 2,429 3,325 2,605 3,932 Weighted-average price per share $ 63.16 $ 59.47 $ 61.84 $ 57.07

FAIR VALUE MEASUREMENT OF FINAN

FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS	9 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS	NOTE 12 FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS We have certain assets and liabilities that are required to be measured and disclosed at fair value. Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. We use the fair value hierarchy established in ASC 820-10 to measure fair value to prioritize the inputs: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. • Level 2 — Observable inputs, other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets; quoted prices for similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Recurring Fair Value Measurements The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which we classify the fair value measurement. June 30, 2022 (in thousands) Fair Value Level 1 Level 2 Level 3 Assets Short-term investments: Corporate debt securities $ 132,629 $ — $ 132,629 $ — U.S. government and federal agency securities 11,702 11,702 — — Total short-term investments 144,331 11,702 132,629 — Investments: Non-qualified supplemental savings plan 15,594 15,594 — — Debt securities 3,524 — — 3,524 Equity investment in ADNOC Drilling 147,786 147,786 — — Debt security investment in Galileo 33,000 — — 33,000 Total investments 199,904 163,380 — 36,524 Liabilities Contingent consideration $ 3,996 $ — $ — $ 3,996 September 30, 2021 (in thousands) Fair Value Level 1 Level 2 Level 3 Assets Short-term investments: Corporate debt securities $ 192,950 $ — $ 192,950 $ — U.S. government and federal agency securities 5,750 5,750 — — Total short-term investments 198,700 5,750 192,950 — Investments: Non-qualified supplemental savings plan 18,221 18,221 — — Equity and debt securities 14,358 13,858 — 500 Cornerstone investment in ADNOC Drilling 100,000 100,000 — — Total investments 132,579 132,079 — 500 Liabilities Contingent consideration $ 2,996 $ — $ — $ 2,996 Short-term Investments Short-term investments include securities classified as trading securities. Both realized and unrealized gains and losses on trading securities are included in other income (expense) in the Unaudited Condensed Consolidated Statements of Operations. The securities are recorded at fair value. Level 1 inputs include U.S. agency issued debt securities with active markets and money market funds. For these items, quoted current market prices are readily available. Level 2 inputs included corporate bonds measured using broker quotations that utilize observable market inputs. Long-term Investments Our long-term investments include debt and equity securities and assets held in a Non-Qualified Supplemental Savings Plan ("Savings Plan") and are recorded within Investments on our Unaudited Condensed Consolidated Balance Sheets. Our assets that we hold in the Savings Plan are comprised of mutual funds that are measured using Level 1 inputs. During the three months ended June 30, 2022, the Company made a $33.0 million cornerstone investment in Galileo Holdco 2 Limited Technologies ("Galileo Holdco 2"), part of the group of companies known as Galileo Technologies (“Galileo”) in the form of a convertible note. Galileo specializes in liquification, natural gas compression and re-gasification modular systems and technologies to make the production, transportation, and consumption of natural gas, biomethane, and hydrogen more economically viable. The convertible note bears interest at 5.0 percent per annum with a maturity date of the earlier of April 2027 or an exit event (as defined in the agreement as either an initial public offering or a sale of Galileo). If the conversion option is exercised, the note would convert into common shares of the parent of Galileo Holdco 2. All of our long-term debt securities, including our investment in Galileo, are classified as available-for-sale and considered a Level 3 input based on the absence of market activity. The following table reconciles changes in the fair value of our Level 3 assets for the periods presented below: Three Months Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Assets at beginning of period $ 3,500 $ 500 $ 500 $ 500 Additions 33,024 — 36,024 — Assets at end of period $ 36,524 $ 500 $ 36,524 $ 500 During the three months ended June 30, 2022, we sold our remaining equity securities of approximately 467.5 thousand shares in Schlumberger, Ltd. and received proceeds of approximately $22.0 million. For the three months ended June 30, 2022, we recorded a gain of $2.7 million related to this investment, which included a $0.5 million gain recognized upon the sale of our investment and a $2.2 million gain related to valuation adjustments. This activity is reported in Gain (loss) on investment securities in our Unaudited Condensed Consolidated Statement of Operations. This investment was classified as Level 1 and based on the quoted stock price. During September 2021, the Company made a $100.0 million cornerstone investment in ADNOC Drilling in advance of its announced IPO, representing 159.7 million shares of ADNOC Drilling, equivalent to a one percent ownership stake and subject to a three-year lockup period. ADNOC Drilling's IPO was completed on October 3, 2021, and its shares are listed and traded on the Abu Dhabi Securities Exchange (ADX). Our investment is classified as a long-term equity investment within Investments in our Unaudited Condensed Consolidated Balance Sheets. We have applied the guidance in Topic 820, Fair Value Measurement, in the initial accounting of the transaction and the subsequent revaluation of the investment balance, concluding that the contractual restriction on the sale of an equity security that is publicly traded is not considered in measuring fair value. During the three and nine months ended June 30, 2022, we recognized a gain (loss) of $(17.0) million and $47.8 million, respectively, in our Unaudited Condensed Consolidated Statement of Operations. As of June 30, 2022, this investment is classified as a Level 1 investment based on the quoted stock price on the Abu Dhabi Securities Exchange. During the three months ended June 30, 2022, we also received dividends in the amount of $3.2 million as a result of this investment. Contingent Consideration Our financial liabilities measured using Level 3 unobservable inputs primarily consist of potential earnout payments associated with our business acquisitions in fiscal year 2019 and certain consulting services. The contingent considerations are recorded in Accrued Liabilities and Other Noncurrent Liabilities in the Unaudited Condensed Consolidated Balance Sheets based on the expected timing of milestone achievements. The following table reconciles changes in the fair value of our Level 3 liabilities for the periods presented below: Three Months Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Liabilities at beginning of period $ 2,996 $ 8,973 $ 2,996 $ 9,123 Additions 1,000 — 1,500 — Total gains or losses: Included in earnings — 823 (250) 923 Settlements 1 — — (250) (250) Liabilities at end of period $ 3,996 $ 9,796 $ 3,996 $ 9,796 (1) Settlements represent earnout payments that have been paid or earned during the period. Nonrecurring Fair Value Measurements We have certain assets that are subject to measurement at fair value on a nonrecurring basis. For these nonfinancial assets, measurement at fair value in periods subsequent to their initial recognition is applicable if they are determined to be impaired. These assets generally include property, plant and equipment, goodwill, intangible assets, and operating lease right-of-use assets. If measured at fair value in the Unaudited Condensed Consolidated Balance Sheets, these would generally be classified within Level 2 or 3 of the fair value hierarchy. Further details on any changes in valuation of these assets is provided in their respective footnotes. We also hold various other equity securities without readily determinable fair values. These equity securities are measured at cost, less any impairments, on a nonrecurring basis. As of June 30, 2022 and June 30, 2021, the aggregate balance of these equity securities was $14.1 million and $2.9 million, respectively. During the three and nine months ended June 30, 2022, we did not record any impairments on these investments. The following table reconciles changes in the balance of our equity securities, without readily determinable fair values, for the periods presented below: Three Months Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Assets at beginning of period $ 13,990 $ 1,000 $ 2,865 $ — Additions 62 1,865 11,187 2,865 Assets at end of period $ 14,052 $ 2,865 $ 14,052 $ 2,865 Geothermal Investments As of June 30, 2022 and September 30, 2021 the aggregate balance of our debt and equity security investments in geothermal energy was $17.0 million and $2.7 million, respectively. All of our geothermal investments are considered a Level 3 input based on the absence of market activity. These investments include assets measured on both a recurring and nonrecurring basis. Other Financial Instruments The carrying amount of cash and cash equivalents and restricted cash approximates fair value due to the short-term nature of these items. The majority of cash equivalents are invested in highly liquid money-market mutual funds invested primarily in direct or indirect obligations of the U.S. Government and in federally insured deposit accounts. The carrying value of accounts receivables, other current and noncurrent assets, accounts payable, accrued liabilities and other liabilities approximated fair value at June 30, 2022 and September 30, 2021. The following information presents the supplemental fair value information for our current and long-term fixed-rate debt at June 30, 2022 and September 30, 2021: (in millions) June 30, 2022 September 30, 2021 Current portion of long-term debt, net 1 Carrying value $ — $ 483.5 Fair value — 541.6 Long-term debt, net Carrying value 542.3 542.0 Fair value 472.8 554.3 (1) On October 27, 2021 we redeemed the outstanding 2025 Notes. See Note 6—Debt. The fair values of the current and long-term fixed-rate debt is based on broker quotes as of June 30, 2022 and September 30, 2021. The notes are classified within Level 2 of the fair value hierarchy as they are not actively traded in markets.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 13 COMMITMENTS AND CONTINGENCIES Purchase Commitments Equipment, parts and supplies are ordered in advance to promote efficient construction and capital improvement progress. At June 30, 2022, we had purchase commitments for equipment, parts and supplies of approximately $106.6 million. Guarantee Arrangements We are contingently liable to sureties in respect of bonds issued by the sureties in connection with certain commitments entered into by us in the normal course of business. We have agreed to indemnify the sureties for any payments made by them in respect of such bonds. Contingencies During the ordinary course of our business, contingencies arise resulting from an existing condition, situation or set of circumstances involving an uncertainty as to the realization of a possible gain or loss contingency. We account for gain contingencies in accordance with the provisions of ASC 450, Contingencies, and, therefore, we do not record gain contingencies or recognize income until realized. The property and equipment of our Venezuelan subsidiary was seized by the Venezuelan government on June 30, 2010. Our wholly-owned subsidiaries, Helmerich & Payne International Drilling Co. ("HPIDC") and Helmerich & Payne de Venezuela, C.A., filed a lawsuit in the United States District Court for the District of Columbia on September 23, 2011 against the Bolivarian Republic of Venezuela, Petroleos de Venezuela, S.A. and PDVSA Petroleo, S.A., seeking damages for the taking of their Venezuelan drilling business in violation of international law and for breach of contract. While there exists the possibility of realizing a recovery, we are currently unable to determine the timing or amounts we may receive, if any, or the likelihood of recovery. In May 2018, an employee of our subsidiary, HPIDC, was involved in a car accident in his personal vehicle while not clocked in for work. The accident resulted in a fatality of a passenger in the other vehicle. The estate of the victim, his widow and children subsequently brought a lawsuit against the employee and HPIDC in Texas State District Court in January 2020. In February 2022, trial began in the matter and the jury reached a verdict against HPIDC and our employee for approximately $126.0 million, including interest. In March 2022, the court entered a judgment consistent with the findings of the jury. In April 2022, the Company and its insurers filed post-trial motions, none of which were granted by the trial judge. However, on June 23, 2022, Plaintiffs' counsel filed a Voluntary Remittitur with the trial court, which formally reduced the verdict to $60.0 million. The Company and its insurers are currently filing motions to appeal the judgement. Accordingly, the Company cannot make an estimate of the possible loss at this time. As of June 30, 2022, we have accrued a total of $3.0 million, and currently have incurred some expense, mainly legal fees, against the insurance deductible. At this time, we believe our insurance policies will be responsive to the amounts over our $3.0 million insurance deductible and that foreseeable exposures to the Company exceeding the deductible will be recovered through insurance. Accordingly, we do not believe this exposure will exceed our insurance coverage limits. The Company and its subsidiaries are parties to various other pending legal actions arising in the ordinary course of our business. We maintain insurance against certain business risks subject to certain deductibles. Although no assurance can be given, we believe, based on our experiences to date and taking into account established reserves and insurance, that the ultimate resolution of such items will not have a material adverse impact on our financial condition, cash flows, or results of operations. When we determine a loss is probable of occurring and is reasonably estimable, we accrue an undiscounted liability for such contingencies based on our best estimate using information available at that time. If the estimated loss is a range of potential outcomes and there is no better estimate within the range, we accrue the amount at the low end of the range. We disclose contingencies where an adverse outcome may be material, or in the judgment of management, we conclude the matter should otherwise be disclosed.

BUSINESS SEGMENTS AND GEOGRAPHI

BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION	9 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION	NOTE 14 BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION Description of the Business We are a performance-driven drilling solutions and technologies company based in Tulsa, Oklahoma with operations in all major U.S. onshore oil and gas producing basins as well as South America and the Middle East. Our drilling operations consist mainly of contracting Company-owned drilling equipment primarily to large oil and gas exploration companies. We believe we are the recognized industry leader in drilling as well as technological innovation. We focus on offering our customers an integrated solutions-based approach by combining proprietary rig technology, automation software, and digital expertise into our rig operations rather than a product-based offering, such as a rig or separate technology package. Our drilling services operations are organized into the following reportable operating business segments: North America Solutions, Offshore Gulf of Mexico and International Solutions. Each reportable operating segment is a strategic business unit that is managed separately, and consolidated revenues and expenses reflect the elimination of all material intercompany transactions. Our real estate operations, our incubator program for new research and development projects, and our wholly-owned captive insurance companies are included in "Other." External revenues included in “Other” primarily consist of rental income. Segment Performance We evaluate segment performance based on income or loss from continuing operations (segment operating income (loss)) before income taxes which includes: • Revenues from external and internal customers • Direct operating costs • Depreciation and amortization • Allocated general and administrative costs • Asset impairment charges • Restructuring charges but excludes gain on reimbursement of drilling equipment, other (gain) loss on sale of assets, corporate selling, general and administrative costs, corporate depreciation, and corporate restructuring charges. General and administrative costs are allocated to the segments based primarily on specific identification and, to the extent that such identification is not practical, other methods may be used which we believe to be a reasonable reflection of the utilization of services provided. Summarized financial information of our reportable segments for the three and nine months ended June 30, 2022 and 2021 is shown in the following tables: Three Months Ended June 30, 2022 (in thousands) North America Solutions Offshore Gulf of Mexico International Solutions Other Eliminations Total External sales $ 486,004 $ 32,701 $ 29,118 $ 2,410 $ — $ 550,233 Intersegment — — — 14,725 (14,725) — Total sales 486,004 32,701 29,118 17,135 (14,725) 550,233 Segment operating income (loss) 57,353 5,872 (6,550) 1,965 (2,140) 56,500 Three Months Ended June 30, 2021 (in thousands) North America Solutions Offshore Gulf of Mexico International Solutions Other Eliminations Total External sales $ 281,132 $ 33,364 $ 15,278 $ 2,439 $ — $ 332,213 Intersegment — — — 9,379 (9,379) — Total sales 281,132 33,364 15,278 11,818 (9,379) 332,213 Segment operating income (loss) (43,743) 5,707 (3,538) (4,670) (3,298) (49,542) Nine Months Ended June 30, 2022 (in thousands) North America Solutions Offshore Gulf of Mexico International Solutions Other Eliminations Total External sales $ 1,235,852 $ 91,162 $ 93,699 $ 6,899 $ — $ 1,427,612 Intersegment — — — 41,577 (41,577) — Total sales 1,235,852 91,162 93,699 48,476 (41,577) 1,427,612 Segment operating income (loss) 29,757 16,616 651 9,061 (5,453) 50,632 Nine Months Ended June 30, 2021 (in thousands) North America Solutions Offshore Gulf of Mexico International Solutions Other Eliminations Total External sales $ 733,061 $ 94,911 $ 40,609 $ 6,180 $ — $ 874,761 Intersegment — — — 25,181 (25,181) — Total sales 733,061 94,911 40,609 31,361 (25,181) 874,761 Segment operating income (loss) (226,505) 11,427 (15,353) (1,631) (8,857) (240,919) The following table reconciles segment operating income (loss) per the tables above to income (loss) from continuing operations before income taxes as reported on the Unaudited Condensed Consolidated Statements of Operations: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2022 2021 2022 2021 Segment operating income (loss) $ 56,500 $ (49,542) $ 50,632 $ (240,919) Gain on reimbursement of drilling equipment 9,895 4,268 21,597 10,207 Other gain (loss) on sale of assets 3,075 (834) 2,762 (12,952) Corporate selling, general and administrative costs, corporate depreciation, and corporate restructuring charges (35,748) (31,259) (106,497) (87,849) Operating income (loss) from continuing operations 33,722 (77,367) (31,506) (331,513) Other income (expense) Interest and dividend income 5,313 1,527 11,301 8,225 Interest expense (4,372) (5,963) (14,876) (17,861) Gain (loss) on investment securities (14,310) 2,409 55,684 7,853 Loss on extinguishment of debt — — (60,083) — Other (1,148) (970) (2,166) (3,027) Total unallocated amounts (14,517) (2,997) (10,140) (4,810) Income (loss) from continuing operations before income taxes $ 19,205 $ (80,364) $ (41,646) $ (336,323) The following table reconciles segment total assets as reported on the Unaudited Condensed Consolidated Balance Sheets: (in thousands) June 30, September 30, Total assets 1 North America Solutions $ 3,407,213 $ 3,418,569 Offshore Gulf of Mexico 79,483 84,580 International Solutions 333,776 269,820 Other 113,342 95,398 3,933,814 3,868,367 Investments and corporate operations 388,796 1,165,761 $ 4,322,610 $ 5,034,128 (1) Assets by segment exclude investments in subsidiaries and intersegment activity. The following table presents revenues from external customers by country based on the location of service provided: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2022 2021 2022 2021 Operating revenues United States $ 520,446 $ 316,315 $ 1,331,728 $ 832,516 Argentina 18,615 7,999 63,216 16,532 Bahrain 2,338 6,979 14,797 21,449 United Arab Emirates 2,188 — 3,711 990 Colombia 5,977 300 11,974 1,674 Other Foreign 669 620 2,186 1,600 Total $ 550,233 $ 332,213 $ 1,427,612 $ 874,761 Refer to Note 9—Revenue from Contracts with Customers for additional information regarding the recognition of revenue.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, RISKS AND UNCERTAINTIES (Policies)	9 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Interim Financial Information	Interim Financial InformationThe accompanying Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) pertaining to interim financial information. Accordingly, these interim financial statements do not include all information or footnote disclosures required by GAAP for complete financial statements and, therefore, should be read in conjunction with the Consolidated Financial Statements and notes thereto in our 2021 Annual Report on Form 10-K and other current filings with the SEC. In the opinion of management, all adjustments, consisting of those of a normal recurring nature, necessary to present fairly the results of the periods presented have been included. The results of operations for the interim periods presented may not necessarily be indicative of the results to be expected for the full year.
Principles of Consolidation	Principles of Consolidation The Unaudited Condensed Consolidated Financial Statements include the accounts of Helmerich & Payne, Inc. and its domestic and foreign subsidiaries. Consolidation of a subsidiary begins when the Company gains control over the subsidiary and ceases when the Company loses control of the subsidiary. Specifically, income and expenses of a subsidiary acquired or disposed of during the fiscal year are included in the Unaudited Condensed Consolidated Statements of Operations and Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) from the date the Company gains control until the date when the Company ceases to control the subsidiary. All intercompany accounts and transactions have been eliminated upon consolidation.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents include cash on hand, demand deposits with banks and all highly liquid investments with original maturities of three months or less. Our cash, cash equivalents and short-term investments are subject to potential credit risk, and certain of our cash accounts carry balances greater than the federally insured limits.
Recently Issued Accounting Updates	Recently Issued Accounting Updates Changes to U.S. GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of Accounting Standards Updates ("ASUs") to the FASB Accounting Standards Codification ("ASC"). We consider the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable, clarifications of ASUs listed below, immaterial, or already adopted by the Company. The following table provides a brief description of a recently adopted accounting pronouncement and our analysis of the effects on our financial statements: Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters Recently Adopted Accounting Pronouncements ASU No. 2019-12, Financial Instruments – Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes This ASU simplifies the accounting for income taxes by removing certain exceptions related to Topic 740. The ASU also improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This update is effective for annual and interim periods beginning after December 15, 2020. Early adoption of the amendment is permitted, including adoption in any interim period for public entities for periods for which financial statements have not yet been issued. An entity that elects to early adopt the amendments in an interim period should reflect any adjustments as of the beginning of the annual period that includes that interim period. Additionally, an entity that elects early adoption must adopt all the amendments in the same period. Upon adoption, the amendments addressed in this ASU will be applied either prospectively, retrospectively or on a modified retrospective basis through a cumulative effect adjustment to retained earnings. This update is effective for annual periods beginning after December 15, 2020. October 1, 2021 We adopted this ASU during the first quarter of fiscal year 2022. The adoption did not have a material effect on our Unaudited Condensed Consolidated Financial Statements and disclosures. Standards that are not yet adopted as of June 30, 2022 ASU No. 2020-06, 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 This ASU reduces the complexity of accounting for convertible debt and other equity-linked instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock. Limiting the accounting models results in fewer embedded conversion features being separately recognized from the host contract as compared with current GAAP. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. This update is effective for annual and interim periods beginning after December 15,2021. Early adoption of the amendment is permitted. October 1, 2022 We plan to adopt this ASU, as required, during the first quarter of fiscal year 2023. Although we are currently evaluating the impact the new guidance may have on our Unaudited Condensed Consolidated Financial Statements and disclosures, we do not believe the adoption will have a material effect thereon. ASU No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions The amendments in this update clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value (i.e., the entity would not apply a discount related to the contractual sale restriction). Furthermore, an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The following disclosures for equity securities subject to contractual sale restrictions will be required: (1) the fair value of the equity securities subject to contractual sale restrictions reflected in the balance sheet, (2) the nature and remaining duration of the restriction(s), and (3) the circumstances that could cause a lapse in the restriction(s). This update is effective for annual and interim periods beginning after December 15, 2023. Early adoption of the amendment is permitted for both interim and annual financial statements. October 1, 2022 We plan to early adopt this ASU during the first quarter of fiscal year 2023. Although we are currently evaluating the impact the new guidance may have on our Unaudited Condensed Consolidated Financial Statements and disclosures, we do not believe the adoption will have a material effect thereon.
Self-Insurance	Self-InsuranceOur wholly-owned insurance captives ("Captives") incurred direct operating costs consisting primarily of adjustments to accruals for estimated losses of $3.1 million and $6.0 million for the three months ended June 30, 2022 and 2021, respectively, and $2.7 million and $8.8 million for the nine months ended June 30, 2022 and 2021, respectively, and rig casualty insurance premiums of $9.4 million and $5.6 million for the three months ended June 30, 2022 and 2021, respectively, and $26.2 million and $13.1 million for the nine months ended June 30, 2022 and 2021, respectively, and were recorded within drilling services operating expenses in our Unaudited Condensed Consolidated Statement of Operations. Intercompany premium revenues recorded by the Captives amounted to $14.7 million and $9.4 million during the three months ended June 30, 2022 and 2021, respectively, and $41.6 million and $25.2 million during the nine months ended June 30, 2022 and 2021, respectively, which were eliminated upon consolidation. These intercompany insurance premiums are reflected as segment operating expenses within the North America Solutions, Offshore Gulf of Mexico, and International Solutions reportable operating segments and are reflected as intersegment sales within "Other." The Company self-insures employee health plan exposures in excess of employee deductibles. Starting in the second quarter of fiscal year 2020, the Captives issued a stop-loss program that will reimburse the Company's health plan for claims that exceed $50,000. This program is reviewed at the end of each policy year by an outside actuary. Our medical stop loss operating expenses for the three months ended June 30, 2022 and 2021 were $3.8 million and $3.2 million, respectively, and $10.6 million and $8.7 million for the nine months ended June 30, 2022 and 2021, respectively.
International Solutions Drilling Risks	International Solutions Drilling Risks International Solutions drilling operations may significantly contribute to our revenues and net operating income (loss). There can be no assurance that we will be able to successfully conduct such operations, and a failure to do so may have an adverse effect on our financial position, results of operations, and cash flows. Also, the success of our International Solutions operations will be subject to numerous contingencies, some of which are beyond management’s control. These contingencies include general and regional economic conditions, fluctuations in currency exchange rates, modified exchange controls, changes in international regulatory requirements and international employment issues, risk of expropriation of real and personal property and the burden of complying with foreign laws. Additionally, in the event that extended labor strikes occur or a country experiences significant political, economic or social instability, we could experience shortages in labor and/or material and supplies necessary to operate some of our drilling rigs, thereby potentially causing an adverse material effect on our business, financial condition and results of operations. We have also experienced certain risks specific to our Argentine operations. In Argentina, while our dayrate is denominated in U.S. dollars, we are paid the equivalent in Argentine pesos. The Argentine branch of one of our second-tier subsidiaries remits U.S. dollars to its U.S. parent by converting the Argentine pesos into U.S. dollars through the Argentine Foreign Exchange Market and repatriating the U.S. dollars. Argentina also has a history of implementing currency controls that restrict the conversion and repatriation of U.S. dollars. In September 2020, Argentina implemented additional currency controls in an effort to preserve Argentina's U.S. dollar reserves. As a result of these currency controls, our ability to remit funds from our Argentine subsidiary to its U.S. parent has been limited. In the past, the Argentine government has also instituted price controls on crude oil, diesel and gasoline prices and instituted an exchange rate freeze in connection with those prices. These price controls and an exchange rate freeze could be instituted again in the future. Further, there are additional concerns regarding Argentina's debt burden, notwithstanding Argentina's restructuring deal with international bondholders in August 2020, as Argentina attempts to manage its substantial sovereign debt issues. These concerns could further negatively impact Argentina's economy and adversely affect our Argentine operations. Argentina’s economy is considered highly inflationary, which is defined as cumulative inflation rates exceeding 100 percent in the most recent three-year period based on inflation data published by the respective governments. Nonetheless, all of our foreign subsidiaries use the U.S. dollar as the functional currency and local currency monetary assets and liabilities are remeasured into U.S. dollars with gains and losses resulting from foreign currency transactions included in current results of operations. We recorded aggregate foreign currency losses of $1.2 million and $0.7 million for the three months ended June 30, 2022 and 2021, and $4.5 million and $4.9 million for the nine months ended June 30, 2022 and 2021, respectively. In the future, we may incur larger currency devaluations, foreign exchange restrictions or other difficulties repatriating U.S. dollars from Argentina or elsewhere, which could have a material adverse impact on our business, financial condition and results of operations. As of June 30, 2022, our cash balance in Argentina was $3.8 million. Because of the impact of local laws, our future operations in certain areas may be conducted through entities in which local citizens own interests and through entities (including joint ventures) in which we hold only a minority interest or pursuant to arrangements under which we conduct operations under contract to local entities. While we believe that neither operating through such entities nor pursuant to such arrangements would have a material adverse effect on our operations or revenues, there can be no assurance that we will in all cases be able to structure or restructure our operations to conform to local law (or the administration thereof) on terms acceptable to us.
Fair Value Measurement of Financial Instruments	We have certain assets and liabilities that are required to be measured and disclosed at fair value. Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. We use the fair value hierarchy established in ASC 820-10 to measure fair value to prioritize the inputs: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. • Level 2 — Observable inputs, other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets; quoted prices for similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, RISKS AND UNCERTAINTIES (Tables)	9 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The cash, cash equivalents, and restricted cash are reflected within the following line items on the Unaudited Condensed Consolidated Balance Sheets: June 30, September 30, (in thousands) 2022 2021 2021 2020 Cash and cash equivalents $ 188,663 $ 370,553 $ 917,534 $ 487,884 Restricted cash Prepaid expenses and other, net 33,242 48,434 18,350 45,577 Other assets, net 684 2,885 832 3,286 Total cash, cash equivalents, and restricted cash $ 222,589 $ 421,872 $ 936,716 $ 536,747
Schedule of Restricted Cash and Cash Equivalents	The cash, cash equivalents, and restricted cash are reflected within the following line items on the Unaudited Condensed Consolidated Balance Sheets: June 30, September 30, (in thousands) 2022 2021 2021 2020 Cash and cash equivalents $ 188,663 $ 370,553 $ 917,534 $ 487,884 Restricted cash Prepaid expenses and other, net 33,242 48,434 18,350 45,577 Other assets, net 684 2,885 832 3,286 Total cash, cash equivalents, and restricted cash $ 222,589 $ 421,872 $ 936,716 $ 536,747
Schedule of Description of Recent Accounting Pronouncements and Analysis of the Effects on the Financial Statements	The following table provides a brief description of a recently adopted accounting pronouncement and our analysis of the effects on our financial statements: Standard Description Date of Adoption Effect on the Financial Statements or Other Significant Matters Recently Adopted Accounting Pronouncements ASU No. 2019-12, Financial Instruments – Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes This ASU simplifies the accounting for income taxes by removing certain exceptions related to Topic 740. The ASU also improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This update is effective for annual and interim periods beginning after December 15, 2020. Early adoption of the amendment is permitted, including adoption in any interim period for public entities for periods for which financial statements have not yet been issued. An entity that elects to early adopt the amendments in an interim period should reflect any adjustments as of the beginning of the annual period that includes that interim period. Additionally, an entity that elects early adoption must adopt all the amendments in the same period. Upon adoption, the amendments addressed in this ASU will be applied either prospectively, retrospectively or on a modified retrospective basis through a cumulative effect adjustment to retained earnings. This update is effective for annual periods beginning after December 15, 2020. October 1, 2021 We adopted this ASU during the first quarter of fiscal year 2022. The adoption did not have a material effect on our Unaudited Condensed Consolidated Financial Statements and disclosures. Standards that are not yet adopted as of June 30, 2022 ASU No. 2020-06, 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 This ASU reduces the complexity of accounting for convertible debt and other equity-linked instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock. Limiting the accounting models results in fewer embedded conversion features being separately recognized from the host contract as compared with current GAAP. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. This update is effective for annual and interim periods beginning after December 15,2021. Early adoption of the amendment is permitted. October 1, 2022 We plan to adopt this ASU, as required, during the first quarter of fiscal year 2023. Although we are currently evaluating the impact the new guidance may have on our Unaudited Condensed Consolidated Financial Statements and disclosures, we do not believe the adoption will have a material effect thereon. ASU No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions The amendments in this update clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value (i.e., the entity would not apply a discount related to the contractual sale restriction). Furthermore, an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The following disclosures for equity securities subject to contractual sale restrictions will be required: (1) the fair value of the equity securities subject to contractual sale restrictions reflected in the balance sheet, (2) the nature and remaining duration of the restriction(s), and (3) the circumstances that could cause a lapse in the restriction(s). This update is effective for annual and interim periods beginning after December 15, 2023. Early adoption of the amendment is permitted for both interim and annual financial statements. October 1, 2022 We plan to early adopt this ASU during the first quarter of fiscal year 2023. Although we are currently evaluating the impact the new guidance may have on our Unaudited Condensed Consolidated Financial Statements and disclosures, we do not believe the adoption will have a material effect thereon.

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment as of June 30, 2022 and September 30, 2021 consisted of the following: (in thousands) Estimated Useful Lives June 30, 2022 September 30, 2021 Drilling services equipment 4 - 15 years $ 6,327,863 $ 6,229,011 Tubulars 4 years 573,514 573,900 Real estate properties 10 - 45 years 45,308 43,302 Other 2 - 23 years 416,163 459,741 Construction in progress (1) 54,931 47,587 7,417,779 7,353,541 Accumulated depreciation (4,430,672) (4,226,254) Property, plant and equipment, net $ 2,987,107 $ 3,127,287 Assets held-for-sale $ 25,604 $ 71,453
Schedule of Assets Held-for-Sale	The following table reconciles changes in the balance (in thousands) of our assets held-for-sale at the dates indicated below: Balance at September 30, 2021 $ 71,453 Additions 1,459 Sales (47,308) Balance at June 30, 2022 $ 25,604

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets Arising from Business Acquisitions	Intangible assets consist of the following: June 30, 2022 September 30, 2021 (in thousands) Weighted Average Estimated Useful Lives Gross Accumulated Net Gross Accumulated Net Finite-lived intangible asset: Developed technology 15 years $ 89,096 $ 26,648 $ 62,448 $ 89,096 $ 22,182 $ 66,914 Intellectual property 13 years 2,000 300 1,700 1,500 216 1,284 Trade name 20 years 5,865 1,396 4,469 5,865 1,158 4,707 Customer relationships 5 years 4,000 3,667 333 4,000 3,067 933 $ 100,961 $ 32,011 $ 68,950 $ 100,461 $ 26,623 $ 73,838

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Components of Unsecured Long-Term Debt Outstanding	We had the following unsecured long-term debt outstanding with maturities shown in the following table: June 30, 2022 September 30, 2021 (in thousands) Face Unamortized Book Face Unamortized Book Unsecured senior notes: Due March 19, 2025 $ — $ — $ — $ 487,148 $ (3,662) $ 483,486 Due September 29, 2031 550,000 (7,710) 542,290 550,000 (8,003) 541,997 550,000 (7,710) 542,290 1,037,148 (11,665) 1,025,483 Less long-term debt due within one year — — — (487,148) 3,662 (483,486) Long-term debt $ 550,000 $ (7,710) $ 542,290 $ 550,000 $ (8,003) $ 541,997

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	9 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss	Components of accumulated other comprehensive loss were as follows: (in thousands) June 30, September 30, Pre-tax amounts: Unrecognized net actuarial loss $ (24,747) $ (26,268) (24,747) (26,268) After-tax amounts: Unrecognized net actuarial loss (19,067) (20,244) $ (19,067) $ (20,244)
Schedule of the Changes in Accumulated Other Comprehensive Loss, Net of Tax, by Component	The following is a summary of the changes in accumulated other comprehensive loss, net of tax, related to the defined benefit pension plan for the three and nine months ended June 30, 2022: (in thousands) Three Months Ended June 30, 2022 Nine Months Ended June 30, 2022 Balance at beginning of period $ (19,456) $ (20,244) Activity during the period Amounts reclassified from accumulated other comprehensive loss 389 1,177 Net current-period other comprehensive income 389 1,177 Balance at June 30, 2022 $ (19,067) $ (19,067)

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	9 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Contract Assets and Liabilities	The following tables summarize the balances of our contract assets (net of allowance for estimated credit losses) and liabilities at the dates indicated below: (in thousands) June 30, 2022 September 30, 2021 Contract assets, net $ 5,772 $ 4,513 (in thousands) June 30, 2022 Contract liabilities balance at September 30, 2021 $ 9,286 Payment received/accrued and deferred 36,353 Revenue recognized during the period (28,610) Contract liabilities balance at June 30, 2022 $ 17,029

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Compensation Cost for Stock-Based Payment Arrangements	A summary of compensation cost for stock-based payment arrangements recognized in drilling services operating expense, research and development expense and selling, general and administrative expense on our Unaudited Condensed Consolidated Statements of Operations is as follows: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2022 2021 2022 2021 Stock-based compensation expense Drilling services operating $ 1,340 $ 1,362 $ 3,862 $ 4,654 Research and development 400 351 1,146 958 Selling, general and administrative 5,311 5,250 16,206 15,628 $ 7,051 $ 6,963 $ 21,214 $ 21,240
Schedule of Restricted Stock Awards and Performance Share Units and Changes in Restricted Stock and Performance Share Units Outstanding	A summary of the status of our restricted stock awards as of June 30, 2022 and changes in non-vested restricted stock outstanding during the nine months then ended is presented below: (in thousands, except per share amounts) Shares (1) Weighted Average Grant Date Fair Value per Share Non-vested restricted stock outstanding at September 30, 2021 1,412 $ 37.36 Granted 744 25.83 Vested (2) (606) 39.88 Forfeited (53) 30.82 Non-vested restricted stock outstanding at June 30, 2022 1,497 $ 30.85 (1) Restricted stock shares include restricted phantom stock units under our Director Deferred Compensation Plan. These phantom stock units confer the economic benefits of owning company stock without the actual ownership, transfer or issuance of any shares. During the nine months ended June 30, 2022, 14,199 restricted phantom stock units were granted and 18,906 restricted phantom stock units vested during the same period. (2) The number of restricted stock awards vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements. A summary of the status of our performance-vested restricted share units ("performance units") as of June 30, 2022 and changes in non-vested performance units outstanding during the nine months ended is presented below: (in thousands, except per share amounts) Performance Units Weighted Average Grant Date Fair Value per Performance Unit Non-vested performance units outstanding at September 30, 2021 699 $ 41.55 Granted 227 30.12 Vested (1) (161) 62.66 Dividend equivalent right performance units credited 11 32.47 Forfeited (54) 34.16 Non-vested performance units outstanding at June 30, 2022 (2) 722 $ 33.67 (1) The number of performance units vested includes units that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements.

EARNINGS (LOSSES) PER COMMON _2

EARNINGS (LOSSES) PER COMMON SHARE (Tables)	9 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings (loss) per share: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2022 2021 2022 2021 Numerator: Income (loss) from continuing operations $ 17,475 $ (56,705) $ (38,480) $ (257,925) Income (loss) from discontinued operations 277 1,150 (106) 10,936 Net income (loss) 17,752 (55,555) (38,586) (246,989) Adjustment for basic earnings (loss) per share Earnings allocated to unvested shareholders (368) (348) (1,138) (1,002) Numerator for basic earnings (loss) per share: From continuing operations 17,107 (57,053) (39,618) (258,927) From discontinued operations 277 1,150 (106) 10,936 17,384 (55,903) (39,724) (247,991) Numerator for diluted earnings (loss) per share: From continuing operations 17,107 (57,053) (39,618) (258,927) From discontinued operations 277 1,150 (106) 10,936 $ 17,384 $ (55,903) $ (39,724) $ (247,991) Denominator: Denominator for basic earnings (loss) per share - weighted-average shares 105,289 107,896 106,092 107,790 Effect of dilutive shares from stock options, restricted stock and performance units 732 — — — Denominator for diluted earnings (loss) per share - adjusted weighted-average shares 106,021 107,896 106,092 107,790 Basic earnings (loss) per common share: Income (loss) from continuing operations $ 0.16 $ (0.53) $ (0.37) $ (2.40) Income from discontinued operations — 0.01 — 0.10 Net loss $ 0.16 $ (0.52) $ (0.37) $ (2.30) Diluted earnings (loss) per common share: Income (loss) from continuing operations $ 0.16 $ (0.53) $ (0.37) $ (2.40) Income from discontinued operations — 0.01 — 0.10 Net loss $ 0.16 $ (0.52) $ (0.37) $ (2.30)
Schedule of Shares Attributable to Outstanding Equity Awards Excluded from the Calculation of Diluted Earnings Per Share	The following potentially dilutive average shares attributable to outstanding equity awards were excluded from the calculation of diluted earnings (loss) per share because their inclusion would have been anti-dilutive: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2022 2021 2022 2021 Potentially dilutive shares excluded as anti-dilutive 2,429 3,325 2,605 3,932 Weighted-average price per share $ 63.16 $ 59.47 $ 61.84 $ 57.07

FAIR VALUE MEASUREMENT OF FIN_2

FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which we classify the fair value measurement. June 30, 2022 (in thousands) Fair Value Level 1 Level 2 Level 3 Assets Short-term investments: Corporate debt securities $ 132,629 $ — $ 132,629 $ — U.S. government and federal agency securities 11,702 11,702 — — Total short-term investments 144,331 11,702 132,629 — Investments: Non-qualified supplemental savings plan 15,594 15,594 — — Debt securities 3,524 — — 3,524 Equity investment in ADNOC Drilling 147,786 147,786 — — Debt security investment in Galileo 33,000 — — 33,000 Total investments 199,904 163,380 — 36,524 Liabilities Contingent consideration $ 3,996 $ — $ — $ 3,996 September 30, 2021 (in thousands) Fair Value Level 1 Level 2 Level 3 Assets Short-term investments: Corporate debt securities $ 192,950 $ — $ 192,950 $ — U.S. government and federal agency securities 5,750 5,750 — — Total short-term investments 198,700 5,750 192,950 — Investments: Non-qualified supplemental savings plan 18,221 18,221 — — Equity and debt securities 14,358 13,858 — 500 Cornerstone investment in ADNOC Drilling 100,000 100,000 — — Total investments 132,579 132,079 — 500 Liabilities Contingent consideration $ 2,996 $ — $ — $ 2,996
Schedule of Reconciliation of Long Term Debt Securities Available For Sale, Classified as Level 3	The following table reconciles changes in the fair value of our Level 3 assets for the periods presented below: Three Months Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Assets at beginning of period $ 3,500 $ 500 $ 500 $ 500 Additions 33,024 — 36,024 — Assets at end of period $ 36,524 $ 500 $ 36,524 $ 500
Schedule of Reconciliation of Changes in the Fair Value of Financial liabilities Classified as Level 3	The following table reconciles changes in the fair value of our Level 3 liabilities for the periods presented below: Three Months Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Liabilities at beginning of period $ 2,996 $ 8,973 $ 2,996 $ 9,123 Additions 1,000 — 1,500 — Total gains or losses: Included in earnings — 823 (250) 923 Settlements 1 — — (250) (250) Liabilities at end of period $ 3,996 $ 9,796 $ 3,996 $ 9,796
Schedule of Reconciliation of Changes in the Fair Value of Financial Assets Classified as Level 3	The following table reconciles changes in the balance of our equity securities, without readily determinable fair values, for the periods presented below: Three Months Ended Nine Months Ended (in thousands) 2022 2021 2022 2021 Assets at beginning of period $ 13,990 $ 1,000 $ 2,865 $ — Additions 62 1,865 11,187 2,865 Assets at end of period $ 14,052 $ 2,865 $ 14,052 $ 2,865
Schedule of Supplemental Fair Value Information about Long-Term Fixed-Rate Debt	The following information presents the supplemental fair value information for our current and long-term fixed-rate debt at June 30, 2022 and September 30, 2021: (in millions) June 30, 2022 September 30, 2021 Current portion of long-term debt, net 1 Carrying value $ — $ 483.5 Fair value — 541.6 Long-term debt, net Carrying value 542.3 542.0 Fair value 472.8 554.3 (1) On October 27, 2021 we redeemed the outstanding 2025 Notes. See Note 6—Debt.

BUSINESS SEGMENTS AND GEOGRAP_2

BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION (Tables)	9 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Financial Information of Reportable Segments	Summarized financial information of our reportable segments for the three and nine months ended June 30, 2022 and 2021 is shown in the following tables: Three Months Ended June 30, 2022 (in thousands) North America Solutions Offshore Gulf of Mexico International Solutions Other Eliminations Total External sales $ 486,004 $ 32,701 $ 29,118 $ 2,410 $ — $ 550,233 Intersegment — — — 14,725 (14,725) — Total sales 486,004 32,701 29,118 17,135 (14,725) 550,233 Segment operating income (loss) 57,353 5,872 (6,550) 1,965 (2,140) 56,500 Three Months Ended June 30, 2021 (in thousands) North America Solutions Offshore Gulf of Mexico International Solutions Other Eliminations Total External sales $ 281,132 $ 33,364 $ 15,278 $ 2,439 $ — $ 332,213 Intersegment — — — 9,379 (9,379) — Total sales 281,132 33,364 15,278 11,818 (9,379) 332,213 Segment operating income (loss) (43,743) 5,707 (3,538) (4,670) (3,298) (49,542) Nine Months Ended June 30, 2022 (in thousands) North America Solutions Offshore Gulf of Mexico International Solutions Other Eliminations Total External sales $ 1,235,852 $ 91,162 $ 93,699 $ 6,899 $ — $ 1,427,612 Intersegment — — — 41,577 (41,577) — Total sales 1,235,852 91,162 93,699 48,476 (41,577) 1,427,612 Segment operating income (loss) 29,757 16,616 651 9,061 (5,453) 50,632 Nine Months Ended June 30, 2021 (in thousands) North America Solutions Offshore Gulf of Mexico International Solutions Other Eliminations Total External sales $ 733,061 $ 94,911 $ 40,609 $ 6,180 $ — $ 874,761 Intersegment — — — 25,181 (25,181) — Total sales 733,061 94,911 40,609 31,361 (25,181) 874,761 Segment operating income (loss) (226,505) 11,427 (15,353) (1,631) (8,857) (240,919)
Schedule of Reconciliation of Segment Operating Income (Loss) to Income from Continuing Operations Before Income Taxes	The following table reconciles segment operating income (loss) per the tables above to income (loss) from continuing operations before income taxes as reported on the Unaudited Condensed Consolidated Statements of Operations: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2022 2021 2022 2021 Segment operating income (loss) $ 56,500 $ (49,542) $ 50,632 $ (240,919) Gain on reimbursement of drilling equipment 9,895 4,268 21,597 10,207 Other gain (loss) on sale of assets 3,075 (834) 2,762 (12,952) Corporate selling, general and administrative costs, corporate depreciation, and corporate restructuring charges (35,748) (31,259) (106,497) (87,849) Operating income (loss) from continuing operations 33,722 (77,367) (31,506) (331,513) Other income (expense) Interest and dividend income 5,313 1,527 11,301 8,225 Interest expense (4,372) (5,963) (14,876) (17,861) Gain (loss) on investment securities (14,310) 2,409 55,684 7,853 Loss on extinguishment of debt — — (60,083) — Other (1,148) (970) (2,166) (3,027) Total unallocated amounts (14,517) (2,997) (10,140) (4,810) Income (loss) from continuing operations before income taxes $ 19,205 $ (80,364) $ (41,646) $ (336,323)
Schedule of Total Assets by Reportable Segment	The following table reconciles segment total assets as reported on the Unaudited Condensed Consolidated Balance Sheets: (in thousands) June 30, September 30, Total assets 1 North America Solutions $ 3,407,213 $ 3,418,569 Offshore Gulf of Mexico 79,483 84,580 International Solutions 333,776 269,820 Other 113,342 95,398 3,933,814 3,868,367 Investments and corporate operations 388,796 1,165,761 $ 4,322,610 $ 5,034,128
Schedule of Revenues from External Customers by Country	The following table presents revenues from external customers by country based on the location of service provided: Three Months Ended June 30, Nine Months Ended June 30, (in thousands) 2022 2021 2022 2021 Operating revenues United States $ 520,446 $ 316,315 $ 1,331,728 $ 832,516 Argentina 18,615 7,999 63,216 16,532 Bahrain 2,338 6,979 14,797 21,449 United Arab Emirates 2,188 — 3,711 990 Colombia 5,977 300 11,974 1,674 Other Foreign 669 620 2,186 1,600 Total $ 550,233 $ 332,213 $ 1,427,612 $ 874,761

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details)	9 Months Ended
	Jun. 30, 2022 location
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of international locations	4

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, RISKS AND UNCERTAINTIES - Narrative (Details)	3 Months Ended			9 Months Ended
	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) geographical_area	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)
Summary of Significant Accounting Policies [Line Items]
Restricted cash	$ 33,900,000		$ 51,300,000	$ 33,900,000	$ 51,300,000	$ 19,200,000	$ 48,900,000
Additional cash restricted at the election of management for potential insurance claims	32,800,000			32,800,000		17,700,000
Increase (decrease) in cash and cash equivalents and restricted cash Label Role				(714,127,000)	(114,875,000)
Payment for extinguishment of long-term debt				487,148,000	0
Adjustments to casualty insurance accruals	3,100,000		6,000,000	2,700,000	8,800,000
Casualty insurance expense	9,400,000		5,600,000	26,200,000	13,100,000
Premium revenues and expenses				41,600,000	25,200,000
Stop-loss program, maximum amount of claim				50,000
Stop-loss medical expenses	3,800,000		3,200,000	$ 10,600,000	8,700,000
Cumulative inflation rate before a country is considered highly inflationary (as a percent)				100%
Foreign currency loss	$ 1,200,000		$ 700,000	$ 4,500,000	$ 4,900,000
Operating Revenue | Geographic Concentration Risk | International Locations
Summary of Significant Accounting Policies [Line Items]
Concentration percentage (as a percent)	5.40%		4.80%	6.70%	4.80%
Minimum
Summary of Significant Accounting Policies [Line Items]
Number of geographical areas operating in (more than) | geographical_area				1
Argentina
Summary of Significant Accounting Policies [Line Items]
Cash	$ 3,800,000			$ 3,800,000
South America | Operating Revenue | Geographic Concentration Risk | International Locations | International Solutions
Summary of Significant Accounting Policies [Line Items]
Concentration percentage (as a percent)	82.60%		52.20%	78.40%	43.10%
Intercompany Eliminations
Summary of Significant Accounting Policies [Line Items]
Premium revenues and expenses	$ 14,700,000		$ 9,400,000
Unsecured Senior Notes Issued 2025
Summary of Significant Accounting Policies [Line Items]
Payment for extinguishment of long-term debt				$ 487,100,000
Make-whole premium and accrued interest		$ 56,400,000
Acquisition of Drilling Technology Companies
Summary of Significant Accounting Policies [Line Items]
Restricted cash	$ 1,100,000			$ 1,100,000		$ 1,500,000

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, RISKS AND UNCERTAINTIES - Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020
Summary of Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 188,663	$ 917,534	$ 370,553	$ 487,884
Restricted cash	33,900	19,200	51,300	48,900
Total cash, cash equivalents, and restricted cash	222,589	936,716	421,872	536,747
Prepaid expenses and other, net
Summary of Significant Accounting Policies [Line Items]
Restricted cash	33,242	18,350	48,434	45,577
Other assets, net
Summary of Significant Accounting Policies [Line Items]
Restricted cash	$ 684	$ 832	$ 2,885	$ 3,286

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - Bs. / $	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Foreign exchange rate (in bolivars per dollar)	10
DICOM floating rate (in bolivars per dollar)	6	4,181,782	3,220,598

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 7,417,779	$ 7,353,541
Accumulated depreciation	(4,430,672)	(4,226,254)
Property, plant and equipment, net	2,987,107	3,127,287
Assets held-for-sale	25,604	71,453
Drilling services equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 6,327,863	6,229,011
Drilling services equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	4 years
Drilling services equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	15 years
Tubulars
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	4 years
Property, plant and equipment, gross	$ 573,514	573,900
Real estate properties
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 45,308	43,302
Real estate properties | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Real estate properties | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	45 years
Other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 416,163	459,741
Other | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	2 years
Other | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	23 years
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 54,931	$ 47,587

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details)		1 Months Ended	3 Months Ended						6 Months Ended	9 Months Ended		12 Months Ended
	Nov. 15, 2021 USD ($)	Sep. 30, 2021 USD ($) rig	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($) rig	Mar. 31, 2022 USD ($) rig	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($) rig	Dec. 31, 2020 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) rig transaction	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($) rig service	Dec. 31, 2021 USD ($) rig
Property, Plant and Equipment [Line Items]
Depreciation expense				$ 97,500,000		$ 102,700,000				$ 293,500,000	$ 312,400,000
Abandonments included in depreciation				1,400,000		1,300,000				5,200,000	1,700,000
Additions										1,459,000
Sales										47,308,000
Property, plant and equipment, net		$ 3,127,287,000		2,987,107,000						2,987,107,000		$ 3,127,287,000
Assets held-for-sale		$ 71,453,000		25,604,000						25,604,000		71,453,000
Asset impairment charge				$ 0		2,130,000				4,363,000	56,414,000
Payments to acquire property, plant and equipment held-for-sale										18,228,000	0
Domestic Non Super Spec Asset Group | North America Solutions
Property, Plant and Equipment [Line Items]
Number of rigs, held-for -sale | rig							71
Additions									$ 13,500,000
Sales										1,900,000		$ 6,500,000
FlexRig4 Asset Group
Property, Plant and Equipment [Line Items]
Number of rigs, held-for -sale | rig		8										8
Property, plant and equipment, net		$ 55,600,000										$ 55,600,000
Total consideration		$ 86,500,000								$ 35,300,000
Period for delivery and commissioning of rigs sold (in months)										12 months
FlexRig4 Asset Group | United Arab Emirates
Property, Plant and Equipment [Line Items]
Number of rigs, held-for -sale | rig		2		5						5		2
Property, plant and equipment, net				$ 34,500,000						$ 34,500,000
Gain (loss) on sale of assets										1,100,000
Selling costs				$ 15,700,000						$ 15,700,000
FlexRig4 Asset Group | United States
Property, Plant and Equipment [Line Items]
Number of rigs, held-for -sale | rig		6		3						3		6
Assets held-for-sale				$ 12,900,000						$ 12,900,000
Asset impairment charge										6,900,000
Payments to acquire property, plant and equipment held-for-sale										18,200,000
FlexRig4 Asset Group | United States | Forecast
Property, Plant and Equipment [Line Items]
Asset impairment charge			$ 6,000,000
Assets Related To Trucking Services and Casino Running Services
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of assets				$ 3,100,000						$ 2,800,000
Assets Related To Trucking Services and Casino Running Services | North America Solutions
Property, Plant and Equipment [Line Items]
Number of rigs, held-for -sale | rig				3	2					3
Property, plant and equipment, net		$ 23,200,000										$ 23,200,000
Gain (loss) on sale of assets	$ (3,400,000)			$ (26,600)	$ 1,200,000
Assets held-for-sale	$ 6,000,000	$ 8,800,000										$ 8,800,000
Number of services offered | service												2
Percentage of consolidated revenue (as a percent)		2.80%										2.80%
Number of transactions | transaction										2
Partial Rig Substructures | North America Solutions
Property, Plant and Equipment [Line Items]
Number of rigs, held-for -sale | rig													2
Property, plant and equipment, net				$ 2,000,000						$ 2,000,000
Asset impairment charge										$ 1,900,000
Scrap value					$ 100,000								$ 100,000
International FlexRig | International Solutions
Property, Plant and Equipment [Line Items]
Number of rigs, held-for -sale | rig				2	2					2			2
Property, plant and equipment, net				$ 3,400,000						$ 3,400,000
Total consideration					$ 900,000
Assets held-for-sale				900,000						900,000
Asset impairment charge										2,500,000
Replacement Value of Damaged Drill Pipe
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of assets				$ 9,900,000			$ 4,300,000			$ 21,600,000	10,200,000
Offshore Platform Rig
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of assets						$ (800,000)					$ (13,000,000)
Offshore Platform Rig | Offshore Gulf of Mexico
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of assets								$ 9,200,000
Excess Drilling Equipment and Spares
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of assets							$ (23,000,000)

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT - Schedule of Assets Held-for-Sale (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2022 USD ($)
Change In Assets Held-For-Sale [Roll Forward]
Asset held for sale, beginning balance	$ 71,453
Additions	1,459
Sales	(47,308)
Assets held for sale, ending balance	$ 25,604

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill additions	$ 0		$ 0
Impairments of goodwill	0		0
Goodwill	45,653,000		45,653,000		$ 45,653,000
Amortization expense	1,800,000	$ 1,800,000	5,400,000	$ 5,400,000
Expected amortization in remainder 2022	1,800,000		1,800,000
Expected amortization in 2023	6,600,000		6,600,000
Expected amortization in 2024	6,400,000		6,400,000
Expected amortization in 2025	6,400,000		6,400,000
Expected amortization in 2026	$ 6,400,000		$ 6,400,000

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets Arising from Business Acquisitions (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 100,961	$ 100,461
Accumulated Amortization	32,011	26,623
Net	$ 68,950	73,838
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Lives	15 years
Gross Carrying Amount	$ 89,096	89,096
Accumulated Amortization	26,648	22,182
Net	$ 62,448	66,914
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Lives	13 years
Gross Carrying Amount	$ 2,000	1,500
Accumulated Amortization	300	216
Net	$ 1,700	1,284
Trade name
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Lives	20 years
Gross Carrying Amount	$ 5,865	5,865
Accumulated Amortization	1,396	1,158
Net	$ 4,469	4,707
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Estimated Useful Lives	5 years
Gross Carrying Amount	$ 4,000	4,000
Accumulated Amortization	3,667	3,067
Net	$ 333	$ 933

DEBT - Components of Unsecured

DEBT - Components of Unsecured Long-Term Debt Outstanding (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Long-term debt, gross
Face Amount	$ 550,000	$ 1,037,148
Unamortized Discount and Debt Issuance Cost	(7,710)	(11,665)
Book Value	542,290	1,025,483
Less long-term debt due within one year
Face Amount	0	(487,148)
Unamortized Discount and Debt Issuance Cost	0	3,662
Current portion of long-term debt	0	(483,486)
Long-term debt
Face Amount	550,000	550,000
Unamortized Discount and Debt Issuance Cost	(7,710)	(8,003)
Long-term debt, net	542,290	541,997
Unsecured Senior Notes Issued 2025
Long-term debt, gross
Face Amount	0	487,148
Unamortized Discount and Debt Issuance Cost	0	(3,662)
Book Value	0	483,486
Unsecured Senior Notes Issued 2031
Long-term debt, gross
Face Amount	550,000	550,000
Unamortized Discount and Debt Issuance Cost	(7,710)	(8,003)
Book Value	$ 542,290	$ 541,997

DEBT - Narrative (Details)

DEBT - Narrative (Details)	3 Months Ended
	Dec. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) letter_of_credit	Mar. 08, 2022 USD ($)	Sep. 29, 2021 USD ($)	Apr. 16, 2021 USD ($)	Dec. 20, 2018 USD ($)
Letters of Credit
Debt Instrument [Line Items]
Number of letters of credit outstanding | letter_of_credit		4
Letters of credit outstanding		$ 33,800,000
Unsecured Senior Notes Issued 2031
Debt Instrument [Line Items]
Interest rate (as a percent)				2.90%
Face amount of debt				$ 550,000,000
Unsecured Senior Notes Issued 2025
Debt Instrument [Line Items]
Interest rate (as a percent)						4.65%
Face amount of debt						$ 487,100,000
Make-whole premium and accrued interest	$ 56,400,000
Write off of the unamortized discount and debt issuance costs	$ 3,700,000
2018 Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		750,000,000
Borrowings outstanding		0
Available borrowing capacity		750,000,000
2018 Credit Facility | Letters of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		75,000,000
2018 Credit Facility, Due November 2025
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 680,000,000		$ 680,000,000
2018 Credit Facility, Due November 2024
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 70,000,000
Unsecured Standalone Line of Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		20,000,000
Borrowings outstanding		$ 5,800,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 1,730	$ (23,659)	$ (3,166)	$ (78,398)
Effective tax rate (as a percent)	9%	29.40%	7.60%	23.30%
Federal statutory income tax rate (as percent)	21%	21%	21%	21%

SHAREHOLDERS' EQUITY - Narrativ

SHAREHOLDERS' EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended						9 Months Ended
	May 31, 2022	May 27, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Number of common shares authorized to be repurchased (up to) (in shares)			4,000,000						4,000,000
Shares of common stock repurchased (in shares)									3,200,000	0
Aggregate cost of repurchased shares									$ 77,000
Cash dividends paid (in dollars per share)		$ 0.25
Cash dividends declared (in dollars per share)	$ 0.25		$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25
Dividends payable			$ 26,693						$ 26,693		$ 27,332

SHAREHOLDERS' EQUITY - Componen

SHAREHOLDERS' EQUITY - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
After-tax amounts:
Accumulated other comprehensive income (loss), after-tax	$ (19,067)	$ (20,244)
Unrecognized net actuarial loss
Pre-tax amounts:
Accumulated other comprehensive income (loss), pre-tax	(24,747)	(26,268)
After-tax amounts:
Accumulated other comprehensive income (loss), after-tax	(19,067)	(20,244)
Accumulated other comprehensive income (loss)
Pre-tax amounts:
Accumulated other comprehensive income (loss), pre-tax	(24,747)	(26,268)
After-tax amounts:
Accumulated other comprehensive income (loss), after-tax	$ (19,067)	$ (20,244)

SHAREHOLDERS' EQUITY - Summary

SHAREHOLDERS' EQUITY - Summary of the Changes in Accumulated Other Comprehensive Loss, Net of Tax, by Component (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Jun. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,734,410	$ 2,776,591	$ 2,912,618	$ 3,083,696	$ 3,224,918	$ 3,318,514	$ 2,912,618	$ 3,318,514
Other comprehensive income	389	394	394	460	457	457	1,177	1,374
Ending balance	2,732,668	2,734,410	2,776,591	$ 3,007,907	$ 3,083,696	$ 3,224,918	2,732,668	$ 3,007,907
Defined Benefit Pension Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(19,456)		$ (20,244)				(20,244)
Amounts reclassified from accumulated other comprehensive loss	389						1,177
Other comprehensive income	389						1,177
Ending balance	$ (19,067)	$ (19,456)					$ (19,067)

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details)		3 Months Ended		9 Months Ended
	Nov. 12, 2021 USD ($) rig	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)
Disaggregation of Revenue [Line Items]
Early termination revenue		$ 0	$ 0	$ 700,000	$ 7,700,000
Revenue		547,906,000	$ 329,774,000	1,420,810,000	$ 868,581,000
Capitalized cost		$ 7,900,000		$ 7,900,000		$ 4,300,000
YPF S.A.
Disaggregation of Revenue [Line Items]
Litigation settlement, amount awarded from other party	$ 11,000,000
Drilling service contract, number of rigs | rig	3
Revenue recognized	$ 5,400,000
Revenue	$ 16,400,000

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Remaining Performance Obligations (Details) $ in Millions	9 Months Ended
	Jun. 30, 2022 USD ($) month
Revenue from Contracts with Customers
Amount of remaining performance obligation	$ 862.2
Period of unsatisfied performance obligations represented in backlog contracts with month-to-month terms (in months) | month	1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue from Contracts with Customers
Expected timing of satisfaction for remaining performance obligation	3 months
Amount of remaining performance obligation	$ 338.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue from Contracts with Customers
Expected timing of satisfaction for remaining performance obligation	12 months
Amount of remaining performance obligation	$ 408.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue from Contracts with Customers
Expected timing of satisfaction for remaining performance obligation	12 months
Amount of remaining performance obligation	$ 114.9

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS - Summary of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Contract assets, net	$ 5,772	$ 4,513
Change in Contract with Customer, Liability [Abstract]
Contract liabilities beginning balance	9,286
Payment received/accrued and deferred	36,353
Revenue recognized during the period	(28,610)
Contract liabilities ending balance	$ 17,029

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of Compensation Cost for Stock-Based Payment Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 7,051	$ 6,963	$ 21,214	$ 21,240
Drilling services operating
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,340	1,362	3,862	4,654
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	400	351	1,146	958
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,311	$ 5,250	$ 16,206	$ 15,628

STOCK-BASED COMPENSATION - Su_2

STOCK-BASED COMPENSATION - Summary of the Status of Restricted Stock Awards and Changes in Restricted Stock Outstanding (Details)	9 Months Ended
	Jun. 30, 2022 $ / shares shares
Restricted Stock Awards
Performance Units
Outstanding beginning balance (in shares)	1,412,000
Granted (in shares)	744,000
Vested (in shares)	(606,000)
Forfeited (in shares)	(53,000)
Outstanding ending balance (in shares)	1,497,000
Weighted Average Grant Date Fair Value per Share
Outstanding beginning balance (in dollars per share) | $ / shares	$ 37.36
Granted (in dollars per share) | $ / shares	25.83
Vested (in dollars per share) | $ / shares	39.88
Forfeited (in dollars per share) | $ / shares	30.82
Outstanding ending balance (in dollars per share) | $ / shares	$ 30.85
Restricted Phantom Stock Units
Performance Units
Granted (in shares)	14,199
Vested (in shares)	(18,906)

STOCK-BASED COMPENSATION - Su_3

STOCK-BASED COMPENSATION - Summary of the Status of Performance Share Units and Changes in Performance Share Units Outstanding (Details) - Performance Share Units	9 Months Ended
	Jun. 30, 2022 shares $ / shares
Performance Units
Outstanding beginning balance (in shares)	699,000
Granted (in shares)	227,000
Vested (in shares)	(161,000)
Dividend equivalent right performance units credited (in shares)	11,000
Forfeited (in shares)	(54,000)
Outstanding ending balance (in shares)	722,000
Weighted Average Grant Date Fair Value per Share
Outstanding beginning balance (in dollars per share) | $ / shares	$ 41.55
Granted (in dollars per share) | $ / shares	30.12
Vested (in dollars per share) | $ / shares	62.66
Dividend equivalent right performance units credited (in dollars per share) | $ / shares	32.47
Forfeited (in dollars per share) | $ / shares	34.16
Outstanding ending balance (in dollars per share) | $ / shares	$ 33.67
Specified performance criteria met (in shares)	96,197
Vested and expected to vest (in shares)	1,097,404

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details)	9 Months Ended
	Jun. 30, 2022 tranche component
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Number of components included in award units | component	2
Performance Share Units - First Component
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance cycle period of each tranche (in years)	3 years
Performance Share Units - Second Component
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance cycle period of each tranche (in years)	1 year
Number of tranches in component | tranche	3
Period over which awards expire (in years)	3 years

EARNINGS (LOSSES) PER COMMON _3

EARNINGS (LOSSES) PER COMMON SHARE - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Income (loss) from continuing operations	$ 17,475			$ (56,705)			$ (38,480)	$ (257,925)
Income (loss) from discontinued operations	277			1,150			(106)	10,936
NET INCOME (LOSS)	17,752	$ (4,976)	$ (51,362)	(55,555)	$ (121,003)	$ (70,431)	(38,586)	(246,989)
Adjustment for basic earnings (loss) per share
Earnings allocated to unvested shareholders	(368)			(348)			(1,138)	(1,002)
Numerator for basic earnings (loss) per share:
From continuing operations	17,107			(57,053)			(39,618)	(258,927)
From discontinued operations	277			1,150			(106)	10,936
Net income (loss) attributable to parent, basic	17,384			(55,903)			(39,724)	(247,991)
Numerator for diluted earnings (loss) per share:
From continuing operations	17,107			(57,053)			(39,618)	(258,927)
From discontinued operations	277			1,150			(106)	10,936
Net income (loss) attributable to parent, diluted	$ 17,384			$ (55,903)			$ (39,724)	$ (247,991)
Denominator:
Denominator for basic earnings (loss) per share – weighted-average shares (in shares)	105,289			107,896			106,092	107,790
Effect of dilutive shares from stock options, restricted stock and performance units (in shares)	732			0			0	0
Denominator for diluted earnings (loss) per share – adjusted weighted-average shares (in shares)	106,021			107,896			106,092	107,790
Basic earnings (loss) per common share:
Income (loss) from continuing operations (in dollars per share)	$ 0.16			$ (0.53)			$ (0.37)	$ (2.40)
Income from discontinued operations (in dollars per share)	0			0.01			0	0.10
Net income (loss) (in dollars per share)	0.16			(0.52)			(0.37)	(2.30)
Diluted earnings (loss) per common share:
Income (loss) from continuing operations (in dollars per share)	0.16			(0.53)			(0.37)	(2.40)
Income from discontinued operations (in dollars per share)	0			0.01			0	0.10
Net Income (loss) (in dollars per share)	$ 0.16			$ (0.52)			$ (0.37)	$ (2.30)

EARNINGS (LOSSES) PER COMMON _4

EARNINGS (LOSSES) PER COMMON SHARE - Shares Attributable to Outstanding Equity Awards Excluded from the Calculation of Diluted Earnings Per Share (Details) - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Potentially dilutive shares excluded as anti-dilutive (in shares)	2,429	3,325	2,605	3,932
Weighted-average price per share (in dollars per share)	$ 63.16	$ 59.47	$ 61.84	$ 57.07

FAIR VALUE MEASUREMENT OF FIN_3

FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS - Assets and Liabilities Measured at Fair Value (Details) - Recurring Fair Value Measurements - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
ASSETS
Total short-term investments	$ 144,331	$ 198,700
Non-qualified supplemental savings plan	15,594	18,221
Debt securities	3,524	14,358
Equity investment in ADNOC Drilling	147,786	100,000
Debt security investment in Galileo	33,000
Total investments	199,904	132,579
Liabilities
Contingent consideration	3,996	2,996
Corporate debt securities
ASSETS
Total short-term investments	132,629	192,950
U.S. government and federal agency securities
ASSETS
Total short-term investments	11,702	5,750
Level 1
ASSETS
Total short-term investments	11,702	5,750
Non-qualified supplemental savings plan	15,594	18,221
Debt securities	0	13,858
Equity investment in ADNOC Drilling	147,786	100,000
Debt security investment in Galileo	0
Total investments	163,380	132,079
Liabilities
Contingent consideration	0	0
Level 1 | Corporate debt securities
ASSETS
Total short-term investments	0	0
Level 1 | U.S. government and federal agency securities
ASSETS
Total short-term investments	11,702	5,750
Level 2
ASSETS
Total short-term investments	132,629	192,950
Non-qualified supplemental savings plan	0	0
Debt securities	0	0
Equity investment in ADNOC Drilling	0	0
Debt security investment in Galileo	0
Total investments	0	0
Liabilities
Contingent consideration	0	0
Level 2 | Corporate debt securities
ASSETS
Total short-term investments	132,629	192,950
Level 2 | U.S. government and federal agency securities
ASSETS
Total short-term investments	0	0
Level 3
ASSETS
Total short-term investments	0	0
Non-qualified supplemental savings plan	0	0
Debt securities	3,524	500
Equity investment in ADNOC Drilling	0	0
Debt security investment in Galileo	33,000
Total investments	36,524	500
Liabilities
Contingent consideration	3,996	2,996
Level 3 | Corporate debt securities
ASSETS
Total short-term investments	0	0
Level 3 | U.S. government and federal agency securities
ASSETS
Total short-term investments	$ 0	$ 0

FAIR VALUE MEASUREMENT OF FIN_4

FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from sale of long-term investments				$ 22,042	$ 0
Gain (loss) on investment securities		$ (14,310)	$ 2,409	55,684	7,853
Gain (loss) resulting from the change in the fair value of investments		(17,000)		47,800
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 2,865	$ 14,052	2,865	$ 14,052	2,865	$ 13,990	$ 1,000	$ 0
Convertible Debt | Galileo Technologies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate (as a percent)		500%		500%
Galileo Technologies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments to acquire investments		$ 33,000
Galileo Technologies | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	500	$ 36,524	$ 500	$ 36,524	$ 500	$ 3,500	$ 500	$ 500
Schlumberger, Ltd
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Sale of equity securities, number of shares sold (in shares)		467,500
Proceeds from sale of long-term investments		$ 22,000
Gain (loss) on investment securities		2,700
Gain (loss) on sale of investment securities				500
Gain (loss) on valuation adjustment of investment				2,200
ADNOC Drilling
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments to acquire investments	$ 100,000
Investment balance (in shares)	159,700,000
Investments lockup period (in years)	3 years
Dividend income from investments		3,200
ADNOC Drilling | ADNOC Drilling
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ownership percentage (as a percent)	1%
Geothermal Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 2,700	$ 17,000		$ 17,000

FAIR VALUE MEASUREMENT OF FIN_5

FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS - Reconciliation of Changes in the Fair Value of Financial Assets and Liabilities Classified as Level 3 (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Reconciliation of changes in the fair value of our financial assets
Assets at beginning of period	$ 13,990	$ 1,000	$ 2,865	$ 0
Additions	62	1,865	11,187	2,865
Assets at end of period	14,052	2,865	14,052	2,865
Reconciliation of changes in the fair value of our financial liabilities
Liabilities at beginning of period	2,996	8,973	2,996	9,123
Additions	1,000	0	1,500	0
Total gains or losses: Included in earnings	0	823	(250)	923
Settlements	0	0	(250)	(250)
Liabilities at end of period	3,996	9,796	3,996	9,796
Galileo Technologies
Reconciliation of changes in the fair value of our financial assets
Assets at beginning of period	3,500	500	500	500
Additions	33,024	0	36,024	0
Assets at end of period	$ 36,524	$ 500	$ 36,524	$ 500

FAIR VALUE MEASUREMENT OF FIN_6

FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS - Supplemental Fair Value Information about Long-Term Fixed-Rate Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021
Supplemental fair value information about long-term fixed-rate debt
Current portion of long-term debt, Carrying value	$ 0	$ 483,486
Long term debt, Carrying value	542,290	$ 541,997
Carrying value
Supplemental fair value information about long-term fixed-rate debt
Current portion of long-term debt, Carrying value	0		$ 483,500
Long term debt, Carrying value	542,300		542,000
Fair value | Level 2
Supplemental fair value information about long-term fixed-rate debt
Current portion of long term debt, Fair value	0		541,600
Long term debt, Fair value	$ 472,800		$ 554,300

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions		1 Months Ended
	Jun. 23, 2022	Feb. 28, 2022	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Purchase commitments for equipment, parts and supplies			$ 106.6
Damages sought		$ 126
Damages awarded	$ 60
Accrual for lawsuit settlement			$ 3

BUSINESS SEGMENTS AND GEOGRAP_3

BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION - Financial Information of Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 550,233	$ 332,213	$ 1,427,612	$ 874,761
Segment operating income (loss)	33,722	(77,367)	(31,506)	(331,513)
North America Solutions
Segment Reporting Information [Line Items]
Revenues	486,004	281,132	1,235,852	733,061
Offshore Gulf of Mexico
Segment Reporting Information [Line Items]
Revenues	32,701	33,364	91,162	94,911
International Solutions
Segment Reporting Information [Line Items]
Revenues	29,118	15,278	93,699	40,609
Other
Segment Reporting Information [Line Items]
Revenues	2,410	2,439	6,899	6,180
Intersegment
Segment Reporting Information [Line Items]
Revenues	(14,725)	(9,379)	(41,577)	(25,181)
Segment operating income (loss)	(2,140)	(3,298)	(5,453)	(8,857)
Intersegment | North America Solutions
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Intersegment | Offshore Gulf of Mexico
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Intersegment | International Solutions
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Intersegment | Other
Segment Reporting Information [Line Items]
Revenues	(14,725)	(9,379)	(41,577)	(25,181)
Operating Segment
Segment Reporting Information [Line Items]
Revenues	550,233	332,213	1,427,612	874,761
Segment operating income (loss)	56,500	(49,542)	50,632	(240,919)
Operating Segment | North America Solutions
Segment Reporting Information [Line Items]
Revenues	486,004	281,132	1,235,852	733,061
Segment operating income (loss)	57,353	(43,743)	29,757	(226,505)
Operating Segment | Offshore Gulf of Mexico
Segment Reporting Information [Line Items]
Revenues	32,701	33,364	91,162	94,911
Segment operating income (loss)	5,872	5,707	16,616	11,427
Operating Segment | International Solutions
Segment Reporting Information [Line Items]
Revenues	29,118	15,278	93,699	40,609
Segment operating income (loss)	(6,550)	(3,538)	651	(15,353)
Operating Segment | Other
Segment Reporting Information [Line Items]
Revenues	17,135	11,818	48,476	31,361
Segment operating income (loss)	$ 1,965	$ (4,670)	$ 9,061	$ (1,631)

BUSINESS SEGMENTS AND GEOGRAP_4

BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION - Reconciliation of Segment Operating Income (Loss) to Income from Continuing Operations Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Abstract]
Gain on reimbursement of drilling equipment	$ 9,895	$ 4,268	$ 21,597	$ 10,207
Corporate selling, general and administrative costs, corporate depreciation, and corporate restructuring charges	44,933	41,719	135,699	120,371
Operating income (loss) from continuing operations	33,722	(77,367)	(31,506)	(331,513)
Other income (expense)
Interest and dividend income	5,313	1,527	11,301	8,225
Interest expense	(4,372)	(5,963)	(14,876)	(17,861)
Gain (loss) on investment securities	(14,310)	2,409	55,684	7,853
Loss on extinguishment of debt	0	0	(60,083)	0
Other	(1,148)	(970)	(2,166)	(3,027)
Total other income (expense)	(14,517)	(2,997)	(10,140)	(4,810)
Income (loss) from continuing operations before income taxes	19,205	(80,364)	(41,646)	(336,323)
Operating Segment
Segment Reporting Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Abstract]
Operating income (loss) from continuing operations	56,500	(49,542)	50,632	(240,919)
Segment Reconciling Items
Segment Reporting Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Abstract]
Gain on reimbursement of drilling equipment	9,895	4,268	21,597	10,207
Other gain (loss) on sale of assets	3,075	(834)	2,762	(12,952)
Corporate G&A
Segment Reporting Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Abstract]
Corporate selling, general and administrative costs, corporate depreciation, and corporate restructuring charges	$ (35,748)	$ (31,259)	$ (106,497)	$ (87,849)

BUSINESS SEGMENTS AND GEOGRAP_5

BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION - Total Assets by Reportable Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Assets	$ 4,322,610	$ 5,034,128
Operating Segment
Segment Reporting Information [Line Items]
Assets	3,933,814	3,868,367
Investments and corporate operations
Segment Reporting Information [Line Items]
Assets	388,796	1,165,761
North America Solutions | Operating Segment
Segment Reporting Information [Line Items]
Assets	3,407,213	3,418,569
Offshore Gulf of Mexico | Operating Segment
Segment Reporting Information [Line Items]
Assets	79,483	84,580
International Solutions | Operating Segment
Segment Reporting Information [Line Items]
Assets	333,776	269,820
Other | Operating Segment
Segment Reporting Information [Line Items]
Assets	$ 113,342	$ 95,398

BUSINESS SEGMENTS AND GEOGRAP_6

BUSINESS SEGMENTS AND GEOGRAPHIC INFORMATION - Revenues from External Customers by Country (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 550,233	$ 332,213	$ 1,427,612	$ 874,761
United States
Segment Reporting Information [Line Items]
Revenues	520,446	316,315	1,331,728	832,516
Argentina
Segment Reporting Information [Line Items]
Revenues	18,615	7,999	63,216	16,532
Bahrain
Segment Reporting Information [Line Items]
Revenues	2,338	6,979	14,797	21,449
United Arab Emirates
Segment Reporting Information [Line Items]
Revenues	2,188	0	3,711	990
Colombia
Segment Reporting Information [Line Items]
Revenues	5,977	300	11,974	1,674
Other Foreign
Segment Reporting Information [Line Items]
Revenues	$ 669	$ 620	$ 2,186	$ 1,600

Uncategorized Items - hp-202206

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]