Parker Drilling (PKDC) 10-K 21 Feb 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Feb. 16, 2018	Jun. 30, 2017
Document Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Trading Symbol	PKD
Entity Registrant Name	PARKER DRILLING CO /DE/
Entity Central Index Key	76,321
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		138,908,085
Entity Public Float			$ 180.9

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Revenues	$ 442,520	$ 427,004	$ 712,183
Expenses:
Operating expenses	355,487	362,521	526,290
Depreciation and amortization	122,373	139,795	156,194
Total expenses	477,860	502,316	682,484
Total operating gross margin (loss)	(35,340)	(75,312)	29,699
General and administration expense	(25,676)	(34,332)	(36,190)
Provision for reduction in carrying value of certain assets	(1,938)	0	(12,490)
Gain (loss) on disposition of assets, net	(2,851)	(1,613)	1,643
Total operating income (loss)	(65,805)	(111,257)	(17,338)
Other income (expense):
Interest expense	(44,226)	(45,812)	(45,155)
Interest income	244	58	269
Other	126	367	(9,747)
Total other income (expense)	(43,856)	(45,387)	(54,633)
Income (loss) before income taxes	(109,661)	(156,644)	(71,971)
Current tax expense (benefit)	9,264	5,108	19,604
Deferred tax expense (benefit)	(224)	69,062	2,709
Total income tax expense (benefit)	9,040	74,170	22,313
Net income (loss)	(118,701)	(230,814)	(94,284)
Less: Net income attributable to noncontrolling interest	0	0	789
Net income (loss) attributable to controlling interest	(118,701)	(230,814)	(95,073)
Less: Mandatory convertible preferred stock dividend	3,051	0	0
Net income (loss) available to common stockholders	$ (121,752)	$ (230,814)	$ (95,073)
Basic earnings (loss) per share (in dollars per share)	$ (0.89)	$ (1.86)	$ (0.78)
Diluted earnings (loss) per share (in dollars per share)	$ (0.89)	$ (1.86)	$ (0.78)
Number of common shares used in computing earnings per share:
Basic (in shares)	136,266,843	124,130,004	122,562,187
Diluted (in shares)	136,266,843	124,130,004	122,562,187

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (118,701)	$ (230,814)	$ (94,284)
Other comprehensive gain (loss), net of tax:
Currency translation difference on related borrowings	643	(691)	(2,012)
Currency translation difference on foreign currency net investments	2,689	(4,265)	405
Total other comprehensive gain (loss), net of tax:	3,332	(4,956)	(1,607)
Comprehensive income (loss)	(115,369)	(235,770)	(95,891)
Comprehensive (income) loss attributable to noncontrolling interest	0	0	4,606
Comprehensive income (loss) attributable to controlling interest	$ (115,369)	$ (235,770)	$ (91,285)

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 141,549	$ 119,691
Accounts and Notes Receivable, net of allowance for bad debts of $7,564 in 2017 and $8,259 in 2016	122,511	113,231
Rig materials and supplies	31,415	32,354
Deferred costs	3,145	1,436
Other tax assets	4,889	6,475
Other current assets	14,327	13,131
Total current assets	317,836	286,318
Property, plant and equipment, net of accumulated depreciation of $1,343,105 in 2017 and $1,320,644 in 2016 (Note 4)	625,771	693,439
Goodwill (Note 2)	6,708	6,708
Intangible assets, net (Note 2)	7,128	9,928
Rig materials and supplies	18,788	22,439
Deferred income taxes	1,284	70,309
Other assets	12,764	14,410
Total assets	990,279	1,103,551
Current liabilities:
Accounts payable	41,523	42,655
Accrued liabilities	57,723	56,186
Accrued income taxes	4,430	4,080
Total current liabilities	103,676	102,921
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017 and $8,674 at December 31, 2016	577,971	576,326
Other long-term liabilities	12,433	15,836
Long-term deferred tax liability	78	69,333
Commitments and contingencies (Note 13)	0	0
Stockholders’ equity:
Preferred Stock, $1.00 par value, 1,942,000 shares authorized, 7.25% Series A Mandatory Convertible, 500,000 shares issued and outstanding (none in 2016)	500	0
Common Stock, $0.16 2/3 par value, authorized 280,000,000 shares, issued and outstanding, 138,935,734 shares (125,118,365 shares in 2016)	23,140	20,837
Capital in excess of par value	744,746	675,194
Accumulated deficit	(468,753)	(350,052)
Accumulated Other Comprehensive Income	(3,512)	(6,844)
Total stockholders’ equity	296,121	339,135
Total liabilities and stockholders’ equity	$ 990,279	$ 1,103,551

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Allowance for bad debts	$ 7,564	$ 8,259
Accumulated Depreciation	1,343,105	1,320,644
Debt issuance costs	$ 7,029	$ 8,674
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized	1,942,000	1,942,000
Preferred stock, shares issued	500,000	0
Preferred stock, shares outstanding	500,000	0
Common stock, par value (in dollars per share)	$ 0.16667	$ 0.16667
Common stock, shares authorized	280,000,000	280,000,000
Common stock, shares issued	138,935,734	125,118,365
Common stock, shares outstanding	138,935,734	125,118,365
Series A Mandatory Convertible Preferred Stock
Preferred stock, dividend rate	7.25%	7.25%

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income (loss)	$ (118,701)	$ (230,814)	$ (94,284)
Adjustments to reconcile net income (loss):
Depreciation and amortization	122,373	139,795	156,194
Accretion of contingent consideration	0	419	826
(Gain) loss on debt modification	0	1,088	0
(Gain) loss on disposition of assets	2,851	1,613	(1,643)
Deferred tax expense (benefit)	(224)	69,062	2,709
Provision for reduction in carrying value of certain assets	1,938	0	12,490
Excess tax benefit (expense) from stock-based compensation	0		(1,045)
Expenses not requiring cash	4,251	2,518	6,136
Change in assets and liabilities:
Accounts and notes receivable	(9,628)	60,391	103,995
Rig materials and supplies	4,710	(1,752)	2,722
Other current assets	(1,319)	2,140	12,548
Accounts payable and accrued liabilities	(8,714)	(19,494)	(27,425)
Accrued income taxes	538	(6,422)	(7,957)
Other assets	8,658	3,897	(3,156)
Net cash provided by (used in) operating activities	6,733	22,441	162,110
Cash flows from investing activities:
Capital expenditures	(54,533)	(28,954)	(88,197)
Proceeds from the sale of assets	403	2,441	830
Proceeds from insurance settlements	0	0	2,500
Acquisitions, net of cash acquired	0	0	(13,806)
Divestitures, net of cash paid	0	0	(2,570)
Net cash provided by (used in) investing activities	(54,130)	(26,513)	(101,243)
Cash flows from financing activities:
Repayments of long-term debt	0	0	(30,000)
Proceeds from the issuance of common stock	25,200	0	0
Proceeds from the issuance of mandatory convertible preferred stock	50,000	0	0
Payment of equity issuance costs	(2,864)	0	0
Mandatory convertible preferred stock dividend	(2,145)	0	0
Shares surrendered in lieu of tax	(936)	(1,156)	(1,033)
Payments of debt issuance costs	0	0	(1,996)
Payment for noncontrolling interest	0	(3,375)	0
Payment of contingent consideration	0	(6,000)	(2,000)
Net cash provided by (used in) financing activities	69,255	(10,531)	(35,029)
Net increase (decrease) in cash and cash equivalents	21,858	(14,603)	25,838
Cash and cash equivalents at beginning of year	119,691	134,294	108,456
Cash and cash equivalents at end of year	141,549	119,691	134,294
Supplemental cash flow information:
Interest paid	41,175	41,175	41,393
Income taxes paid	$ 8,422	$ 14,341	$ 26,208

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Mandatory convertible preferred stock	Common Stock	Common StockCommon Stock	Preferred Stock	Preferred StockMandatory convertible preferred stock	Treasury Stock	Capital in Excess of Par Value	Capital in Excess of Par ValueCommon Stock	Capital in Excess of Par ValueMandatory convertible preferred stock	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Total Controlling Stockholders’ Equity	Total Controlling Stockholders’ EquityCommon Stock	Total Controlling Stockholders’ EquityMandatory convertible preferred stock	Noncontrolling Interest
Beginning Balances at Dec. 31, 2014	$ 666,214			$ 20,495		$ 0		$ (170)	$ 666,769			$ (24,165)	$ (498)	$ 662,431			$ 3,783
Balances (in shares) at Dec. 31, 2014	122,046
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity in employees’ stock plans	$ (1,034)			193					(1,227)					(1,034)
Activity in employees' stock plans (in shares)	1,160
Tax benefit increase from stock-based compensation	$ (1,045)								(1,045)					(1,045)
Amortization of stock-based awards	8,410								8,410					8,410
Disposal of noncontrolling interest related to sale of joint venture	(1,392)																(1,392)
Purchase of noncontrolling ownership interest	(6,750)								(3,787)					(3,787)			(2,963)
Comprehensive Income:
Net income (loss)	(94,284)											(95,073)		(95,073)			789
Other comprehensive income (loss)	(1,607)												(1,390)	(1,390)			(217)
Ending Balances at Dec. 31, 2015	$ 568,512			20,688		0		(170)	669,120			(119,238)	(1,888)	568,512			0
Balances (in shares) at Dec. 31, 2015	123,206
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity in employees’ stock plans	$ (1,156)			319					(1,475)					(1,156)
Activity in employees' stock plans (in shares)	1,912
Amortization of stock-based awards	$ 7,549								7,549					7,549
Comprehensive Income:
Net income (loss)	(230,814)											(230,814)		(230,814)
Other comprehensive income (loss)	(4,956)												(4,956)	(4,956)
Ending Balances at Dec. 31, 2016	$ 339,135			21,007		0		(170)	675,194			(350,052)	(6,844)	339,135			0
Balances (in shares) at Dec. 31, 2016	125,118
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity in employees’ stock plans	$ (936)			303				0	(1,239)					(936)
Activity in employees' stock plans (in shares)	1,818
Amortization of stock-based awards	$ 4,006								4,006					4,006
Issuance of common stock and issuance of mandatory convertible preferred stock	72,300	$ 24,059	$ 48,277		$ 2,000		$ 500			$ 22,059	$ 47,777				$ 24,059	$ 48,277
Issuance of common stock and issuance of mandatory convertible preferred stock (in shares)					12,000		500
Mandatory convertible preferred stock dividend	(3,051)								(3,051)					(3,051)
Comprehensive Income:
Net income (loss)	(118,701)											(118,701)		(118,701)
Other comprehensive income (loss)	3,332												3,332	3,332
Ending Balances at Dec. 31, 2017	$ 296,121			$ 23,310		$ 500		$ (170)	$ 744,746			$ (468,753)	$ (3,512)	$ 296,121			$ 0
Balances (in shares) at Dec. 31, 2017	139,436

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Nature of Operations — Our business is comprised of two business lines: (1) Drilling Services and (2) Rental Tools Services. We report our Drilling Services business as two reportable segments: (1) U.S. (Lower 48) Drilling and (2) International & Alaska Drilling. We report our Rental Tools Services business as two reportable segments: (1) U.S. Rental Tools and (2) International Rental Tools. In our Drilling Services business, we drill oil, natural gas and geothermal wells for customers in both the U.S. and international markets. We provide this service with both Company-owned rigs and customer-owned rigs. We refer to the provision of drilling services with customer-owned rigs as our operations and management (“O&M”) service in which operators own their own drilling rigs but choose Parker Drilling to operate and manage the rigs for them. The nature and scope of activities involved in drilling an oil and natural gas well is similar whether it is drilled with a Company-owned rig (as part of a traditional drilling contract) or a customer-owned rig (as part of an O&M contract). In addition, we provide project-related services, such as engineering, procurement, project management and commissioning of customer-owned drilling rig projects. We have extensive experience and expertise in drilling geologically challenging wells and in managing the logistical and technological challenges of operating in remote, harsh and ecologically sensitive areas. Our U.S. (Lower 48) Drilling segment provides drilling services with our Gulf of Mexico (“GOM”) barge drilling rig fleet, and markets our U.S. (Lower 48)-based O&M services. Our GOM barge drilling fleet operates barge rigs that drill for oil and natural gas in shallow waters in and along the inland waterways and coasts of Louisiana, Alabama and Texas. The majority of these wells are drilled in shallow water depths ranging from 6 to 12 feet. Our rigs are suitable for a variety of drilling programs, from inland coastal waters requiring shallow draft barges, to open water drilling on both state and federal water projects requiring more robust capabilities. The barge drilling industry in the GOM is characterized by cyclical activity where utilization and dayrates are typically driven by oil and natural gas prices and our customers’ access to project financing. Contract terms typically consist of well-to-well or multi-well programs, most commonly ranging from 20 to 180 days. Our International & Alaska Drilling segment provides drilling services, using both Company-owned rigs and O&M contracts, and project-related services. The drilling markets in which this segment operates have one or more of the following characteristics: • customers typically are major, independent, or national oil and natural gas companies or integrated service providers; • drilling programs in remote locations with little infrastructure, requiring a large inventory of spare parts and other ancillary equipment and self-supported service capabilities; • complex wells and/or harsh environments (such as high pressures, deep depths, hazardous or geologically challenging conditions and sensitive environments) requiring specialized equipment and considerable experience to drill; and • O&M contracts that generally cover periods of one year or more. During the year ended December 31, 2017, we had rigs operating on Sakhalin Island, Russia and in Alaska, Kazakhstan, the Kurdistan Region of Iraq, and Guatemala. In addition, we had O&M and ongoing project-related services for customer-owned rigs in Kuwait, Canada and on Sakhalin Island, Russia. In our Rental Tools Services business, we provide premium rental equipment and services to exploration & production (“E&P”) companies, drilling contractors and service companies on land and offshore in the U.S. and select international markets. Tools we provide include standard and heavy-weight drill pipe, all of which are available with standard or high-torque connections, tubing, drill collars, pressure control equipment, including blowout preventers and more. We also provide well construction services, which include tubular running services and downhole tool rentals, well intervention services, which include whipstock, fishing and related services, and inspection and machine shop support. Rental tools are used during drilling and/or workover programs and are requested by the customer as needed, requiring us to keep a broad inventory of rental tools in stock. Rental tools are usually rented on a daily or monthly basis. Our U.S. Rental Tools segment is headquartered in New Iberia, Louisiana. We maintain an inventory of rental tools for deepwater, drilling, completion, workover, and production applications at facilities in Louisiana, Texas, Oklahoma, Wyoming, North Dakota and West Virginia. Our largest single market for rental tools is U.S. land drilling, a cyclical market driven primarily by oil and natural gas prices and our customers’ access to project financing. A portion of our U.S. rental tools business is supplying tubular goods and other equipment to offshore GOM customers. Our International Rental Tools segment is headquartered in Dubai, United Arab Emirates. We maintain an inventory of rental tools and provide well construction, well intervention, and surface and tubular services to our customers in the Middle East, Latin America, United Kingdom, Europe, and Asia-Pacific regions. We have operated in over 50 countries since beginning operations in 1934, making us among the most geographically experienced drilling contractors and rental tools providers in the world. We currently have operations in 19 countries. Parker has set numerous world records for deep and extended-reach drilling land rigs and is an industry leader in quality, health, safety and environmental practices. Consolidation — The consolidated financial statements include the accounts of the Company and subsidiaries in which we exercise control or have a controlling financial interest, including entities, if any, in which the Company is allocated a majority of the entity’s losses or returns, regardless of ownership percentage. If a subsidiary of Parker Drilling has a 50 percent interest in an entity but Parker Drilling’s interest in the subsidiary or the entity does not meet the consolidation criteria described above, then that interest is accounted for under the equity method. Noncontrolling Interest — We apply accounting standards related to noncontrolling interests for ownership interests in our subsidiaries held by parties other than Parker Drilling. We report noncontrolling interest as equity on the consolidated balance sheets and report net income (loss) attributable to controlling interest and to noncontrolling interest separately on the consolidated statements of operations. Reclassifications — Certain reclassifications have been made to prior period amounts to conform to the current period presentation. These reclassifications did not materially affect our consolidated financial results. Revenue Recognition — Drilling revenues and expenses, comprised of daywork drilling contracts, call-outs against master service agreements and engineering and related project service contracts, are recognized as services are performed and collection is reasonably assured. For certain contracts, we receive payments contractually designated for the mobilization of rigs and other drilling equipment. Mobilization payments received, and direct costs incurred for the mobilization, are deferred and recognized over the primary term of the related drilling contract; however, costs incurred to relocate rigs and other drilling equipment to areas in which a contract has not been secured are expensed as incurred. For contracts that are terminated prior to the specified term, early termination payments received by us are recognized as revenues when all contractual requirements are met. Revenues from rental activities are recognized ratably over the rental term, which is generally less than six months. Our project-related services contracts include engineering, consulting, and project management scopes of work and revenue is typically recognized on a time and materials basis. Reimbursable Revenues — The Company recognizes reimbursements received for out-of-pocket expenses incurred as revenues and accounts for out-of-pocket expenses as direct operating costs. Such amounts totaled $57.8 million , $69.3 million , and $87.8 million during the years ended December 31, 2017 , 2016 , and 2015 , respectively. Additionally, the Company typically receives a nominal handling fee, which is recognized as earned in revenues in our consolidated statement of operations. Use of Estimates — The preparation of financial statements in accordance with accounting policies generally accepted in the United States (U.S. GAAP) requires management to make estimates and assumptions that affect our reported amounts of assets and liabilities, our disclosure of contingent assets and liabilities at the date of the financial statements, and our revenues and expenses during the periods reported. Estimates are typically used when accounting for certain significant items such as legal or contractual liability accruals, mobilization and deferred mobilization, self-insured medical/dental plans, income taxes and valuation allowance, and other items requiring the use of estimates. Estimates are based on a number of variables which may include third party valuations, historical experience, where applicable, and assumptions that we believe are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ from management estimates. Purchase Price Allocation — We allocate the purchase price of an acquired business to its identifiable assets and liabilities in accordance with the acquisition method based on estimated fair values at the transaction date. Transaction and integration costs associated with an acquisition are expensed as incurred. The excess of the purchase price over the amount allocated to the assets and liabilities, if any, is recorded as goodwill. We use all available information to estimate fair values, including quoted market prices, the carrying value of acquired assets, and widely accepted valuation techniques such as discounted cash flows. We typically engage third-party appraisal firms to assist in fair value determination of inventories, identifiable intangible assets, and any other significant assets or liabilities. Judgments made in determining the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact our results of operations. Goodwill — We perform our annual goodwill impairment review during the fourth quarter, as of October 1, and more frequently if negative conditions or other triggering events arise. The quantitative impairment test we perform for goodwill utilizes certain assumptions, including forecasted revenues and costs assumptions. See Note 2 - Goodwill and Other Intangible Assets for further discussion. Intangible Assets — Our intangible assets are related to trade names, customer relationships, and developed technology, which were acquired through acquisition and are classified as definite lived intangibles, that are generally amortized over a weighted average period of approximately three to six years. We assess the recoverability of the unamortized balance of our intangible assets when indicators of impairment are present based on expected future profitability and undiscounted expected cash flows and their contribution to our overall operations. Should the review indicate that the carrying value is not fully recoverable, the excess of the carrying value over the fair value of the intangible assets would be recognized as an impairment loss. See Note 2 - Goodwill and Other Intangible Assets for further discussion. Cash and Cash Equivalents — For purposes of the consolidated balance sheets and the consolidated statements of cash flows, the Company considers cash equivalents to be highly liquid debt instruments that have a remaining maturity of three months or less at the date of purchase. Accounts Receivable and Allowance for Bad Debt — Trade accounts receivable are recorded at the invoice amount and typically do not bear interest. The allowance for bad debt is estimated for losses that may occur resulting from disputed amounts and the inability of our customers to pay amounts owed. We estimate the allowance based on historical write-off experience and information about specific customers. We review individually, for collectability, all balances over 90 days past due as well as balances due from any customer with respect to which we have information leading us to believe that a risk exists for potential collection. Account balances are charged off against the allowance when we believe it is probable the receivable will not be recovered. We do not have any off-balance-sheet credit exposure related to customers. The components of our accounts receivable, net of allowance for bad debt balance are as follows: December 31, Dollars in thousands 2017 2016 Trade $ 130,075 $ 121,490 Allowance for bad debt (1) (7,564 ) (8,259 ) Total accounts and notes receivable, net of allowance for bad debt $ 122,511 $ 113,231 (1) Additional information on the allowance for bad debt for the years ended December 31, 2017 , 2016 and 2015 is reported on Schedule II — Valuation and Qualifying Accounts. Property, Plant and Equipment — Property, plant and equipment is carried at cost. Maintenance and most repair costs are expensed as incurred. The cost of upgrades and replacements is capitalized. The Company capitalizes software developed or obtained for internal use. Accordingly, the cost of third-party software, as well as the cost of third-party and internal personnel that are directly involved in application development activities, are capitalized during the application development phase of new software systems projects. Costs during the preliminary project stage and post-implementation stage of new software systems projects, including data conversion and training costs, are expensed as incurred. We account for depreciation of property, plant and equipment on the straight line method over the estimated useful lives of the assets after provision for salvage value. Depreciation, for tax purposes, utilizes several methods of accelerated depreciation. Depreciable lives for different categories of property, plant and equipment are as follows: Land drilling equipment 3 to 20 years Barge drilling equipment 3 to 20 years Drill pipe, rental tools and other 4 to 15 years Buildings and improvements 5 to 30 years Leasehold improvements are depreciated over the shorter of their estimated useful lives or the term of the lease. Impairment — We evaluate the carrying amounts of long-lived assets for potential impairment when events occur or circumstances change that indicate the carrying values of such assets may not be recoverable. We evaluate recoverability by determining the undiscounted estimated future net cash flows for the respective asset groups identified. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset group, we measure the impairment as the amount by which the assets’ carrying value exceeds the fair value of such assets. Management considers a number of factors such as estimated future cash flows from the assets, appraisals and current market value analysis in determining fair value. Assets are written down to fair value if the final estimate of current fair value is below the net carrying value. The assumptions used in the impairment evaluation are inherently uncertain and require management judgment. Capitalized Interest — Interest from external borrowings is capitalized on major projects until the assets are ready for their intended use. Capitalized interest is added to the cost of the underlying asset and is amortized over the useful lives of the assets in the same manner as the underlying assets. Capitalized interest costs reduce net interest expense in the consolidated statements of operations. During 2017 capitalized interest costs were nominal. Capitalized interest costs were $0.2 million and $0.2 million during 2016 and 2015 , respectively. Assets Held for Sale — We classify an asset as held for sale when the facts and circumstances meet the criteria for such classification, including the following: (a) we have committed to a plan to sell the asset, (b) the asset is available for immediate sale, (c) we have initiated actions to complete the sale, including locating a buyer, (d) the sale is expected to be completed within one year, (e) the asset is being actively marketed at a price that is reasonable relative to its fair value, and (f) the plan to sell is unlikely to be subject to significant changes or termination. Rig Materials and Supplies — Because our international drilling generally occurs in remote locations, making timely outside delivery of spare parts uncertain, a complement of parts and supplies is maintained either at the drilling site or in warehouses close to the operation. During periods of high rig utilization, these parts are generally consumed and replenished within a one -year period. During a period of lower rig utilization in a particular location, the parts, like the related idle rigs, are generally not transferred to other international locations until new contracts are obtained because of the significant transportation costs that would result from such transfers. We classify those parts which are not expected to be utilized in the following year as long-term assets. Additionally, our international rental tools business holds machine shop consumables and steel stock for manufacture in our machine shops and inspection and repair shops, which are classified as current assets. Rig materials and supplies are valued at the lower of cost or market value. Deferred Costs — We defer costs related to rig mobilization and amortize such costs over the primary term of the related contract. The costs to be amortized within twelve months are classified as current. Debt Issuance Costs — We typically defer costs associated with issuance of indebtedness, and amortize those costs over the term of the related debt using the effective interest method. Income Taxes — Income taxes are accounted for under the asset and liability method and have been provided for based upon tax laws and rates in effect in the countries in which operations are conducted and income or losses are generated. There is little or no expected relationship between the provision for or benefit from income taxes and income or loss before income taxes as the countries in which we operate have taxation regimes that vary not only with respect to nominal rate, but also in terms of the availability of deductions, credits, and other benefits. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the temporary differences are expected to be recovered or settled and the effect of changes in tax rates is recognized in income in the period in which the change is enacted. Valuation allowances are established to reduce deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized. In order to determine the amount of deferred tax assets or liabilities, as well as the valuation allowances, we must make estimates and assumptions regarding future taxable income, where rigs will be deployed and other matters. Changes in these estimates and assumptions, including changes in tax laws and other changes impacting our ability to recognize the underlying deferred tax assets, could require us to adjust the valuation allowances. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized and changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Earnings (Loss) Per Share (EPS) — Basic earnings (loss) per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. The effects of dilutive securities, stock options, unvested restricted stock and convertible debt are included in the diluted EPS calculation, when applicable. Concentrations of Credit Risk — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of trade receivables with a variety of national and international oil and natural gas companies. We generally do not require collateral on our trade receivables. We depend on a limited number of significant customers. In 2017 , our largest customer, Exxon Neftegas Limited ( ENL ), constituted approximately 31.3 percent of our consolidated revenues. Excluding reimbursable revenues of $50.8 million , ENL constituted approximately 22.7 percent of our total consolidated revenues. In 2017 , our second largest customer, BP Exploration Alaska, Inc. (BP), constituted approximately 9.7 percent of our consolidated revenues. As of December 31, 2017 and 2016 , we had deposits in domestic banks in excess of federally insured limits of approximately $97.6 million and $81.4 million , respectively. In addition, we had uninsured deposits in foreign banks as of December 31, 2017 and 2016 of $45.6 million and $39.7 million , respectively. Fair Value Measurements — For purposes of recording fair value adjustments for certain financial and non-financial assets and liabilities, and determining fair value disclosures, we estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. Our valuation technique requires inputs that we categorize using a three-level hierarchy, from highest to lowest level of observable inputs, as follows: (1) unadjusted quoted prices for identical assets or liabilities in active markets (Level 1), (2) direct or indirect observable inputs, including quoted prices or other market data, for similar assets or liabilities in active markets or identical assets or liabilities in less active markets (Level 2) and (3) unobservable inputs that require significant judgment for which there is little or no market data (Level 3). When multiple input levels are required for a valuation, we categorize the entire fair value measurement according to the lowest level of input that is significant to the measurement even though we may have also utilized significant inputs that are more readily observable. Foreign Currency — In our international rental tool business, for certain subsidiaries and branches outside the U.S., the local currency is the functional currency. The financial statements of these subsidiaries and branches are translated into U.S. dollars as follows: (i) assets and liabilities at month-end exchange rates; (ii) income, expenses and cash flows at monthly average exchange rates or exchange rates in effect on the date of the transaction; and (iii) stockholders’ equity at historical exchange rates. For those subsidiaries where the local currency is the functional currency, the resulting translation adjustment is recorded as a component of accumulated other elements of comprehensive income (loss) in the accompanying consolidated balance sheets. Stock-Based Compensation — Under our long term incentive plan, we are authorized to issue the following: stock options; stock appreciation rights; restricted stock awards; restricted stock units; performance-based awards; and other types of awards in cash or stock to key employees, consultants, and directors. We typically grant restricted stock units (“RSUs”), performance cash units (“PCUs”), performance-based phantom stock units and time-based phantom stock units. Stock-based compensation expense is recognized, net of an estimated forfeiture rate, which is based on historical experience and adjusted, if necessary, in subsequent periods based on actual forfeitures. We recognize stock-based compensation expense in the same financial statement line item as cash compensation paid to the respective employees. Tax deduction benefits for awards in excess of recognized compensation costs are reported as an operating cash flow. Legal and Investigation Matters — We accrue estimates of the probable and estimable costs for the resolution of certain legal and investigation matters. We do not accrue any amounts for other matters for which the liability is not probable and reasonably estimable. Generally, the estimate of probable costs related to these matters is developed in consultation with our legal advisors. The estimates take into consideration factors such as the complexity of the issues, litigation risks and settlement costs. If the actual settlement costs, final judgments, or fines, after appeals, differ from our estimates, our future financial results may be adversely affected.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets We account for business combinations using the acquisition method of accounting. Under this method, assets and liabilities, including any remaining noncontrolling interests, are recognized at fair value at the date of acquisition. The excess of the purchase price over the fair value of assets acquired, net of liabilities assumed, plus the value of any noncontrolling interests, is recognized as goodwill. We perform our annual goodwill impairment review during the fourth quarter, as of October 1, and more frequently if negative conditions or other triggering events arise. As a result of our 2017 analysis, we determined that the fair value of the reporting unit exceeded its carrying value and therefore, no goodwill impairment was identified. Should current market conditions worsen or persist for an extended period of time, an impairment of the carrying value of our goodwill could occur. All of the Company’s goodwill and intangible assets are allocated to the International Rental Tools segment. Goodwill The change in the carrying amount of goodwill for the year ended December 31, 2017 is as follows: Dollars in thousands Goodwill Balance at December 31, 2016 $ 6,708 Additions — Balance at December 31, 2017 $ 6,708 Of the total amount of goodwill recognized, zero is expected to be deductible for income tax purposes. Intangible Assets Intangible Assets consist of the following: Balance at December 31, 2017 Dollars in thousands Estimated Useful Life (Years) Gross Carrying Amount Write-off Due to Sale (1) Accumulated Amortization Net Carrying Amount Amortized intangible assets: Developed Technology 6 $ 11,630 $ — $ (5,330 ) $ 6,300 Customer Relationships 3 5,400 (264 ) (5,136 ) — Trade Names 5 4,940 (332 ) (3,780 ) 828 Total Amortized intangible assets $ 21,970 $ (596 ) $ (14,246 ) $ 7,128 (1) During the 2015 fourth quarter, we sold our controlling interest in a joint venture in Egypt resulting in the write-off of $0.6 million of intangible assets related to customer relationships and trade name. Amortization expense was $2.8 million , $3.5 million , and $4.3 million for the year ended December 31, 2017 , 2016 , and 2015 respectively. Our remaining intangibles amortization expense for the next five years is presented below: Dollars in thousands Expected future intangible amortization expense 2018 $ 2,306 2019 $ 2,306 2020 $ 2,030 2021 $ 486 Beyond 2021 $ —

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Accumulated other comprehensive income consisted of the following: Dollars in thousands Foreign Currency Items December 31, 2016 $ (6,844 ) Current period other comprehensive income 3,332 December 31, 2017 $ (3,512 ) There were no amounts reclassified out of accumulated other comprehensive loss for the year ended December 31, 2017 .

Property Plant and Equipment

Property Plant and Equipment	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The components of our property, plant and equipment balance are as follows: December 31, Dollars in Thousands 2017 2016 Property, Plant and Equipment, at cost: Drilling Equipment $ 1,228,443 $ 1,306,641 Rental Tools 552,461 516,144 Building, Land and Improvements 60,309 54,799 Other 115,910 111,142 Construction in Progress 11,753 25,357 Total Property, Plant and Equipment, at cost 1,968,876 2,014,083 Less: Accumulated Depreciation and Amortization 1,343,105 1,320,644 Property, Plant, and Equipment, Net $ 625,771 $ 693,439 Depreciation expense was $119.6 million , $136.3 million and $151.9 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Provision for Reduction in Carrying Value of an Asset Asset impairment evaluations are, by nature, highly subjective. They involve expectations about future cash flows generated by our assets and reflect management’s assumptions and judgments regarding future industry conditions and their effect on future utilization levels, dayrates and costs. The use of different estimates and assumptions could result in materially different carrying values of our assets. We review the carrying amounts of long-lived assets for potential impairment when events occur, or circumstances change, which indicate the carrying values of such assets may not be recoverable. Although no impairment of our asset groups was identified during the year ended December 31, 2017 , we recorded a provision of $1.9 million for reduction in carrying value of assets. This provision was related to certain assets in the International & Alaska Drilling segment that were deemed to be excess and functionally obsolete unless significant costs were incurred to refurbish them. Disposition of Assets During the normal course of operations, we periodically sell equipment deemed to be excess, obsolete, or not currently required for operations. Net losses recorded on asset disposition were $2.9 million and $1.6 million for the years ended December 31, 2017 and December 31, 2016 , respectively. The net loss for 2017 was primarily related to the sale of one rig located in Papua New Guinea. Activity in both periods included equipment retirements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On December 22, 2017 the United States enacted the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act includes significant changes to U.S. corporate income tax laws, the most notable of which is a reduction in the U.S. corporate income tax rate from 35 percent to 21 percent, effective for tax years beginning January 1, 2018, and a one-time mandatory tax on previously deferred earnings of certain foreign subsidiaries associated with the transition from a worldwide to a modified territorial tax regime. In accordance with the reduction to the U.S. corporate income tax rate from 35 percent to 21 percent, the Company has remeasured certain U.S. deferred tax assets and liabilities. However, as a result of the Company’s net deferred tax position, inclusive of valuation allowances, no net income tax expense was recorded related to this remeasurement. The Company has not recorded any income tax expense related to the one-time mandatory tax on previously deferred earnings of certain foreign subsidiaries associated with the transition from a worldwide to a modified territorial tax regime. We are continuing our analysis of the effects the Tax Act will have on the Company in future periods. Income (loss) before income taxes is summarized below: Year Ended December 31, Dollars in thousands 2017 2016 2015 United States $ (89,233 ) $ (131,106 ) $ (77,368 ) Foreign (20,428 ) (25,538 ) 5,397 $ (109,661 ) $ (156,644 ) $ (71,971 ) Income tax expense (benefit) is summarized as follows: Year Ended December 31, Dollars in thousands 2017 2016 2015 Current: United States: Federal $ 80 $ (1,921 ) $ 2,485 State 54 (9 ) 365 Foreign 9,130 7,038 16,754 Deferred: United States: Federal 167 64,066 (141 ) State — (47 ) (4,769 ) Foreign (391 ) 5,043 7,619 $ 9,040 $ 74,170 $ 22,313 Total income tax expense differs from the amount computed by multiplying income before income taxes by the U.S. federal income tax statutory rate. The reasons for this difference are as follows: Year Ended December 31, 2017 2016 2015 Dollars in thousands Amount % of Pre-Tax Income Amount % of Pre-Tax Income Amount % of Pre-Tax Income Computed expected tax expense $ (38,381 ) 35.0 % $ (54,825 ) 35.0 % $ (25,190 ) 35.0 % Foreign taxes 13,084 (11.9 )% 12,688 (8.1 )% 16,043 (22.3 )% Tax effect different from statutory rates (2,048 ) 1.9 % (3,629 ) 2.3 % (2,729 ) 3.8 % State taxes, net of federal benefit 35 — % (849 ) 0.5 % (4,544 ) 6.3 % Foreign tax credits 3 — % 20 — % (5,566 ) 7.7 % Change in valuation allowance (excluding impact of Tax Act) 30,704 (28.0 )% 117,707 (75.1 )% 40,676 (56.5 )% Uncertain tax positions 194 (0.2 )% (726 ) 0.5 % (81 ) 0.1 % Permanent differences 2,970 (2.7 )% 1,442 (0.9 )% 1,696 (2.4 )% Prior year return to provision adjustments 2,442 (2.3 )% 2,078 (1.3 )% 1,555 (2.1 )% Other 37 — % 264 (0.2 )% 453 (0.6 )% Impact of Tax Act Effect of tax rate reduction on deferred tax 45,329 (41.3 )% — — % — — % Effect of tax rate on deferred tax valuation (45,329 ) 41.3 % — — % — — % Actual Tax Expense $ 9,040 (8.2 )% $ 74,170 (47.3 )% $ 22,313 (31.0 )% The components of the Company’s deferred tax assets and liabilities as of December 31, 2017 and 2016 are shown below: December 31, Dollars in thousands 2017 2016 Deferred tax assets Deferred tax assets: Federal net operating loss carryforwards 95,867 120,986 State net operating loss carryforwards 11,089 7,168 Other state deferred tax asset, net 1,592 2,646 Foreign Tax Credits 46,913 46,859 FIN 48 953 883 Foreign tax 36,699 29,791 Asset Impairment 8,161 27,165 Accruals not currently deductible for tax purposes 2,926 1,657 Deferred compensation 1,204 3,424 Other 74 863 Gross long-term deferred tax assets 205,478 241,442 Valuation Allowance (157,914 ) (171,133 ) Net deferred tax assets, net of valuation allowance 47,564 70,309 Deferred tax liabilities: Deferred tax liabilities: Property, Plant and equipment (38,809 ) (64,256 ) Foreign tax local (78 ) 490 Other state deferred tax liability, net (6,140 ) (5,567 ) Intangibles (1,331 ) — Gross deferred tax liabilities (46,358 ) (69,333 ) Net deferred tax asset $ 1,206 $ 976 As part of the process of preparing the consolidated financial statements, the Company is required to determine its provision for income taxes. This process involves measuring temporary and permanent differences resulting from differing treatment of items for tax and accounting purposes. These differences and the operating loss and tax credit carryforwards result in deferred tax assets and liabilities. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that all or a portion of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income of appropriate character in each taxing jurisdiction during the periods in which those temporary differences become deductible. Management considers the weight of available evidence, both positive and negative, including the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income, and tax planning strategies in making this assessment. To the extent the Company believes that it does not meet the test that recovery is more likely than not, it establishes a valuation allowance. To the extent that the Company establishes a valuation allowance or changes this allowance in a period, it adjusts the tax provision or tax benefit in the consolidated statement of operations. We use our judgment in determining provisions or benefits for income taxes, and any valuation allowance recorded against previously established deferred tax assets. We have measured the value of our deferred tax assets for the year ended December 31, 2017 based on the cumulative weight of positive and negative evidence that exists as of the date of the financial statements. Should the cumulative weight of all available positive and negative evidence change in the forecast period, the expectation of realization of deferred tax assets existing as of December 31, 2017 and prospectively may change. The 2017 results include a decrease in our valuation allowance of $14.6 million primarily related to U.S. and certain foreign net operating losses and other deferred tax assets. Valuation allowances are established based on the weight of available evidence, both positive and negative, including results of recent and current operations and our estimates of future taxable income or loss by jurisdiction in which we operate. In order to determine the amount of deferred tax assets or liabilities, as well as the valuation allowances, we must make estimates and assumptions regarding future taxable income, where rigs will be deployed and other business considerations. Changes in these estimates and assumptions, including changes in tax laws and other changes impacting our ability to recognize the underlying deferred tax assets, could require us to adjust the valuation allowances. The 2016 results include an increase in our valuation allowance of $117.7 million primarily related to U.S. and certain foreign net operating losses and other deferred tax assets. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Dollars in thousands Balance at January 1, 2016 $ (4,628 ) Reductions based on tax positions taken during a prior period 3 Additions based on tax positions taken during the current period (770 ) Balance at December 31, 2017 $ (5,395 ) In many cases, our uncertain tax positions are related to tax years that remain subject to examination by tax authorities. The following describes the open tax years, by major tax jurisdiction, as of December 31, 2017 : Kazakhstan 2008-present Mexico 2012-present Russia 2014-present United States — Federal 2009-present United Kingdom 2014-present As of December 31, 2017 , we had a liability for unrecognized tax benefits of $5.4 million ( all of which, if recognized, would favorably impact our effective tax rate), on which no payments were made during 2017 . The Company recognized interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2017 and December 31, 2016 we had approximately $2.1 million and $1.9 million of accrued interest and penalties related to uncertain tax positions, respectively. We recognized a $0.2 million increase in interest and no minal decrease in penalties on unrecognized tax benefits for the year ended December 31, 2017 . As of December 31, 2017 , the Company has permanently reinvested accumulated undistributed earnings of foreign subsidiaries and, therefore, has not recorded a deferred tax liability related to subject earnings. Upon distribution of additional earnings in the form of dividends or otherwise, we could be subject to income taxes and withholding taxes. It is not practicable to determine precisely the amount of taxes that may be payable on the eventual remittance of these earnings due to many factors, including application of foreign tax credits, levels of accumulated earnings and profits at the time of remittance, and the sources of earnings remitted. The Company generally does not provide for taxes related to its undistributed earnings because such earnings either would not be taxable when remitted or they are considered to be indefinitely reinvested. Taxes that would be incurred if the undistributed earnings of other subsidiaries were distributed to their ultimate parent company would not be material.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The following table illustrates the Company’s current debt portfolio as of December 31, 2017 and December 31, 2016 : December 31, Dollars in thousands 2017 2016 6.75% Senior Notes, due July 2022 $ 360,000 $ 360,000 7.50% Senior Notes, due August 2020 225,000 225,000 Total principal 585,000 585,000 Less: unamortized debt issuance costs (7,029 ) (8,674 ) Total long-term debt $ 577,971 $ 576,326 6.75% Senior Notes, due July 2022 On January 22, 2014, we issued $360.0 million aggregate principal amount of 6.75% Senior Notes due July 2022 ( 6.75% Notes) pursuant to an Indenture between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee. The 6.75% Notes are general unsecured obligations of the Company and rank equal in right of payment with all of our existing and future senior unsecured indebtedness. The 6.75% Notes are jointly and severally guaranteed by all of our subsidiaries that guarantee indebtedness under the Second Amended and Restated Senior Secured Credit Agreement, as amended from time-to-time (2015 Secured Credit Agreement) and our 7.50% Senior Notes due 2020 ( 7.50% Notes, and collectively with the 6.75% Notes, the Senior Notes). Interest on the 6.75% Notes is payable on January 15 and July 15 of each year, beginning July 15, 2014. Debt issuance costs related to the 6.75% Notes of approximately $7.6 million ( $4.6 million net of amortization as of December 31, 2017 ) are being amortized over the term of the notes using the effective interest rate method. On and after January 15, 2018, we may redeem all or a part of the 6.75% Notes upon appropriate notice, at a redemption price of 103.375 percent of the principal amount, and at redemption prices decreasing each year thereafter to par beginning January 15, 2020. We have not made any redemptions to date. If we experience certain changes in control, we must offer to repurchase the 6.75% Notes at 101.0 percent of the aggregate principal amount, plus accrued and unpaid interest and additional interest, if any, to the date of repurchase. The Indenture limits our ability and the ability of certain subsidiaries to: (i) sell assets, (ii) pay dividends or make other distributions on capital stock or redeem or repurchase capital stock or subordinated indebtedness, (iii) make investments, (iv) incur or guarantee additional indebtedness, (v) create or incur liens, (vi) enter into sale and leaseback transactions, (vii) incur dividend or other payment restrictions affecting subsidiaries, (viii) merge or consolidate with other entities, (ix) enter into transactions with affiliates, and (x) engage in certain business activities. Additionally, the Indenture contains certain restrictive covenants designating certain events as Events of Default. These covenants are subject to a number of important exceptions and qualifications. 7.50% Senior Notes, due August 2020 On July 30, 2013, we issued $225.0 million aggregate principal amount of the 7.50% Notes pursuant to an Indenture between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee. The 7.50% Notes are general unsecured obligations of the Company and rank equal in right of payment with all of our existing and future senior unsecured indebtedness. The 7.50% Notes are jointly and severally guaranteed by all of our subsidiaries that guarantee indebtedness under the 2015 Secured Credit Agreement and the 6.75% Notes. Interest on the 7.50% Notes is payable on February 1 and August 1 of each year, beginning February 1, 2014. Debt issuance costs related to the 7.50% Notes of approximately $5.6 million ( $2.4 million , net of amortization as of December 31, 2017 ) are being amortized over the term of the notes using the effective interest rate method. We may redeem all or a part of the 7.50% Notes upon appropriate notice, at redemption prices decreasing each year after August 1, 2016 to par beginning August 1, 2018. As of December 31, 2017 , the redemption price is 101.875 percent and we have not made any redemptions to date. If we experience certain changes in control, we must offer to repurchase the 7.50% Notes at 101.0 percent of the aggregate principal amount, plus accrued and unpaid interest and additional interest, if any, to the date of repurchase. The Indenture limits our ability and the ability of certain subsidiaries to: (i) sell assets, (ii) pay dividends or make other distributions on capital stock or redeem or repurchase capital stock or subordinated indebtedness, (iii) make investments, (iv) incur or guarantee additional indebtedness, (v) create or incur liens, (vi) enter into sale and leaseback transactions, (vii) incur dividend or other payment restrictions affecting subsidiaries, (viii) merge or consolidate with other entities, (ix) enter into transactions with affiliates, and (x) engage in certain business activities. Additionally, the Indenture contains certain restrictive covenants designating certain events as Events of Default. These covenants are subject to a number of important exceptions and qualifications. 2015 Secured Credit Agreement On January 26, 2015 we entered into the 2015 Secured Credit Agreement. The 2015 Secured Credit Agreement was originally comprised of a $200 million revolving credit facility (Revolver), which was subsequently reduced to $100 million . The 2015 Secured Credit Agreement formerly included financial maintenance covenants, including a Leverage Ratio, Consolidated Interest Coverage Ratio, Senior Secured Leverage Ratio, and Asset Coverage Ratio, many of which were suspended beginning in September 2015. On February 21, 2017, we executed the fourth amendment to the 2015 Secured Credit Agreement (the Fourth Amendment) which, among other things, permits the sale and issuance of certain equity interests of the Company, including the Convertible Preferred Stock, and permits the Company to pay dividends on the Convertible Preferred Stock, up to certain aggregate amounts specified therein. The debt issuance costs incurred relating to the Fourth Amendment were nominal. Debt issuance costs remaining as of December 31, 2017 were $0.8 million which are being amortized through January 2020 on a straight line basis. On February 14, 2018, we executed the Fifth Amendment to the 2015 Secured Credit Agreement (the Fifth Amendment) which modified the credit facility to an Asset-Based Lending (ABL) structure and reduced the size of the Revolver from $100 million to $80 million . The Fifth Amendment eliminated the financial maintenance covenants previously in effect and replaced them with a liquidity covenant of $30 million and a monthly borrowing base calculation based on eligible rental equipment and eligible domestic accounts receivable. The liquidity covenant requires the Company to maintain a minimum of $30 million of liquidity (defined as availability under the borrowing base and cash on hand), of which $15 million is restricted, resulting in a maximum availability at any one time of the lesser of (a) an amount equal to our borrowing base minus $15 million , or (b) $65 million . Our ability to borrow under the 2015 Secured Credit Agreement determined by reference to our borrowing base, which as of the effective date of the Fifth Amendment was $67.5 million . The Fifth Amendment also allows for refinancing our existing Senior Notes with either secured or unsecured debt, adds the ability for the Company to designate certain of its subsidiaries as “Designated Borrowers” and removes our availability to make certain restricted payments. Our obligations under the 2015 Secured Credit Agreement are guaranteed by substantially all of our direct and indirect domestic subsidiaries, other than immaterial subsidiaries and subsidiaries generating revenues primarily outside the United States, each of which has executed guaranty agreements, and are secured by first priority liens on our accounts receivable, specified rigs including barge rigs in the GOM and land rigs in Alaska, certain U.S.-based rental equipment of the Company and its subsidiary guarantors and the equity interests of certain of the Company’s subsidiaries. In addition to the liquidity covenant and borrowing base requirements, the 2015 Secured Credit Agreement contains customary affirmative and negative covenants, such as limitations on indebtedness and liens, and restrictions on entry into certain affiliate transactions and payments (including payment of dividends). As of December 31, 2017 , we were in compliance with all covenants contained in the 2015 Secured Credit Agreement. Our Revolver is available for general corporate purposes and to support letters of credit. Interest on Revolver loans accrues at a Base Rate plus an Applicable Rate or LIBOR plus an Applicable Rate. Revolving loans are available subject to a quarterly asset coverage ratio calculation based on the Orderly Liquidation Value of certain specified rigs including barge rigs in the GOM and land rigs in Alaska, and certain U.S.-based rental equipment of the Company and its subsidiary guarantors and a percentage of eligible domestic accounts receivable. As of December 31, 2017 our ability to access the Revolver was restricted to $94.4 million , due primarily to $5.7 million in letters of credit outstanding. There were no amounts drawn on the Revolver as of December 31, 2017 . Had the Fifth Amendment been in effect as of December 31, 2017 , our ability to access the Revolver would have been limited to approximately $46.8 million due to the impacts of (a) the reduction in commitments, (b) the borrowing base calculation, (c) the restricted fund requirement in our liquidity covenant, and (d) outstanding letters of credit.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Certain of our assets and liabilities are required to be measured at fair value on a recurring basis. For purposes of recording fair value adjustments for certain financial and non-financial assets and liabilities, and determining fair value disclosures, we estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. The fair value measurement and disclosure requirements of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic No. 820, Fair Value Measurement and Disclosures requires inputs that we categorize using a three-level hierarchy, from highest to lowest level of observable inputs, as follows: • Level 1 — Unadjusted quoted prices for identical assets or liabilities in active markets; • Level 2 — Direct or indirect observable inputs, including quoted prices or other market data, for similar assets or liabilities in active markets or identical assets or liabilities in less active markets; and • Level 3 — Unobservable inputs that require significant judgment for which there is little or no market data. When multiple input levels are required for a valuation, we categorize the entire fair value measurement according to the lowest level of input that is significant to the entire measurement even though we may also have utilized significant inputs that are more readily observable. The amounts reported in our consolidated balance sheets for cash and cash equivalents, accounts receivable, and accounts payable approximate fair value. Fair value of our debt instruments is determined using Level 2 inputs. Fair values and related carrying values of our debt instruments were as follows for the periods indicated: December 31, 2017 December 31, 2016 Dollars in thousands Carrying Amount Fair Value Carrying Amount Fair Value Long-term Debt 6.75% Notes $ 360,000 $ 296,100 $ 360,000 $ 311,400 7.50% Notes 225,000 206,438 225,000 201,375 Total $ 585,000 $ 502,538 $ 585,000 $ 512,775 Market conditions could cause an instrument to be reclassified from Level 1 to Level 2, or Level 2 to Level 3. There were no transfers between levels of the fair value hierarchy or any changes in the valuation techniques used during the year ended December 31, 2017 .

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Plan Stock-based compensation awards were granted to employees under the Company’s 2010 Long-Term Incentive Plan, as Amended and Restated as of May 10, 2016 (the Stock Plan). The Stock Plan was approved by the stockholders at the Annual Meeting of Stockholders on May 10, 2016. The Stock Plan authorizes the compensation committee or the board of directors to issue stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance-based awards, time-based awards, and other types of awards in cash or stock to key employees, consultants, and directors. The maximum number of shares that may be delivered pursuant to the awards granted under the Stock Plan is 16,800,000 shares of common stock. As of December 31, 2017 there were 4,617,521 shares remaining available under the Stock Plan. Stock-Based Awards Stock-based awards generally vest over three years. Stock-based compensation expense is recognized net of an estimated forfeiture rate, which is based on historical experience and adjusted, if necessary, in subsequent periods based on actual forfeitures. We recognize stock-based compensation expense in the same financial statement line item as cash compensation paid to the respective employees. Tax deduction benefits for awards in excess of recognized compensation costs are reported as a financing cash flow. In 2017, we issued three types of stock-based awards: restricted stock units (RSUs), performance-based phantom stock units and time-based phantom stock units: • RSUs entitle a grantee to receive a share of common stock on a specified vesting date. RSUs are service-based awards and compensation expense is recognized ratably over the applicable vesting period. The grant-date fair value of nonvested RSUs is determined based on the closing trading price of the Company’s shares on the grant date. RSUs are settled in shares of our common stock upon vesting. • Performance-based phantom stock units are performance-based awards and represent the equivalent of one share of common stock as of the grant date. Compensation costs for performance-based phantom stock units are recognized based on the change in fair value of the awards during the performance period. Performance-based phantom stock units vest fully at the end of a three -year performance period and are settled in cash upon vesting. • Time-based phantom stock units are service-based awards and represent the equivalent of one share of common stock as of the grant date. Compensation costs for time-based phantom stock units are recognized ratably over a three-year vesting period and based on the change in fair value of the awards during the three -year period. Time-based phantom stock units are settled in cash upon vesting. The following table presents RSUs granted, vested and forfeited during 2017 under the Stock Plan: Units Weighted Average Grant-Date Fair Value Nonvested at January 1, 2017 5,333,522 $ 2.85 Granted 2,711,546 $ 1.42 Vested (2,512,552 ) $ 3.41 Forfeited (998,338 ) $ 2.29 Nonvested at December 31, 2017 4,534,178 $ 1.81 We issued 2,711,546 units, 3,289,569 units, and 2,996,151 units, respectively, of RSUs during 2017 , 2016 and 2015 , respectively, to selected key personnel. The per-share weighted-average grant-date fair value of units granted during 2017 , 2016 , and 2015 was $1.42 , $2.07 , and $3.08 , respectively. Stock-based compensation expense is included in our consolidated statements of operations in “General and administration expenses.” Total stock-based compensation expense recognized relating to RSUs for the years ended December 31, 2017 , 2016 , and 2015 was $4.0 million , $7.5 million , and $8.4 million , respectively, all of which was related to nonvested RSUs. The total fair value of the units vested during the years ended December 31, 2017 , 2016 , and 2015 was $8.6 million , $10.0 million , and $8.0 million , respectively. The fair value of RSUs is determined based on the closing trading price of the Company’s stock on the grant date. Nonvested RSUs as of December 31, 2017 totaled 4,534,178 and total unrecognized compensation cost related to unamortized RSUs was $3.3 million as of December 31, 2017 . The remaining unrecognized compensation cost related to non-vested RSUs will be amortized over a weighted-average vesting period of approximately 33 months. The following table presents time-based phantom stock units granted, vested, and forfeited during 2017 under the Stock Plan: Time-Based Phantom Stock Units Nonvested at January 1, 2017 985,938 Granted 648,755 Vested (299,796 ) Forfeited (216,793 ) Nonvested at December 31, 2017 1,118,104 In 2017 we issued 648,755 units and 1,188,854 units of time-based phantom stock units during 2017 and 2016 to selected key personnel. We did no t issue any time-based phantom stock units in 2015. Compensation expense recognized related to time-based phantom stock units for the year ended December 31, 2017 was no minal. Expense recognized for the year ended December 31, 2016 was $1.4 million . Performance-Based Awards In 2017, we issued two types of performance-based awards: Performance Cash Units (PCUs) and performance-based phantom stock units. PCUs are performance-based awards that contain payout conditions which are based on our performance against a group of selected peer companies with regard to relative return on capital employed (ROCE) over a three-year performance period. Each PCU has a nominal value of $100.00 . A maximum of 200 percent of the number of PCUs granted may be earned if performance at the maximum level is achieved. PCUs vest to the extent earned at the end of a three -year performance period and are settled in cash. Performance-based phantom stock units are performance-based awards denominated in a number of shares which contain payout conditions based on our performance against a group of selected peer companies with regard to relative total shareholder return (TSR) over a three -year performance period. They represent a grant of hypothetical stock to the equivalent number of shares of common stock but, with the employee receiving cash upon vesting. We used a simulation-based option pricing approach to determine the fair value of these awards. A maximum of 250 percent of the number of performance-based phantom stock units granted may be earned if performance at the maximum level is achieved. Performance-based phantom stock units vest to the extent earned at the end of the three -year performance period and are settled in cash. We evaluate the terms of each award to determine if the award should be accounted for as equity or a liability under the stock compensation rules of U.S. GAAP. PCUs and performance-based phantom stock units are classified as liability awards. For performance-based awards with graded vesting conditions, we recognize compensation expense on a straight-line basis over the service period for each separately vesting portion of the award as if the award was, in substance, multiple awards. For market-based awards that vest at the end of the service period, we recognize compensation expense on a straight-line basis through the end of the service period. The following table presents PCUs granted, vested, and forfeited during 2017 under the Stock Plan: PCUs Nonvested at January 1, 2017 26,352 Granted 14,153 Vested (11,022 ) Forfeited (6,462 ) Nonvested at December 31, 2017 23,021 In 2017 , 2016 , and 2015 we issued 14,153 units, 17,091 units, and 17,091 units, respectively, of PCUs to selected key personnel. Compensation expense recognized related to PCUs for the years ended December 31, 2017 , 2016 , and 2015 was $1.0 million , $2.3 million , and $2.3 million , respectively. The following table presents performance-based phantom stock units granted, vested, and forfeited during 2017 under the Stock Plan: Performance-Based Phantom Stock Units Nonvested at January 1, 2017 1,315,228 Granted 660,370 Vested (348,962 ) Forfeited (315,579 ) Nonvested at December 31, 2017 1,311,057 In 2017 , 2016 , and 2015 we issued 660,370 units, 1,164,880 units, and 541,127 units, respectively, of performance-based phantom stock units to selected key personnel. Compensation expense recognized related to performance-based phantom stock units for the year ended December 31, 2017 was a gain of $0.9 million , and an expense of $1.3 million , and $0.4 million for the years ended December 31, 2016 and 2015 , respectively.

Earnings (Loss) Per Share (EPS)

Earnings (Loss) Per Share (EPS)	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Earnings (Loss) Per Share (EPS)	Earnings (Loss) Per Share (EPS) Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. The effects of dilutive securities, stock options, unvested restricted stock, convertible debt and equity are included in the diluted EPS calculation, when applicable. The following table represents the computation of earnings per share for the twelve months ended December 31, 2017 and 2016 , respectively: For the Year Ended December 31, 2017 Net Income (Loss) Available to Common Stockholders (Numerator) Shares (Denominator) Per-Share Amount Basic earnings (loss) per common share $ (121,752,000 ) 136,266,843 $ (0.89 ) Effect of dilutive securities: Restricted stock units (1) — $ — Mandatory convertible preferred stock (2) Diluted earnings (loss) per common share $ (121,752,000 ) 136,266,843 $ (0.89 ) For the Year Ended December 31, 2016 Net Income (Loss) Available to Common Stockholders (Numerator) Shares (Denominator) Per-Share Amount Basic earnings (loss) per common share $ (230,814,000 ) 124,130,004 $ (1.86 ) Effect of dilutive securities: Restricted stock units (1) — $ — Diluted earnings (loss) per common share $ (230,814,000 ) 124,130,004 $ (1.86 ) For the Year Ended December 31, 2015 Net Income (Loss) Available to Common Stockholders (Numerator) Shares (Denominator) Per-Share Amount Basic earnings (loss) per common share $ (95,073,000 ) 122,562,187 $ (0.78 ) Effect of dilutive securities: Restricted stock units (1) — $ — Diluted earnings (loss) per common share $ (95,073,000 ) 122,562,187 $ (0.78 ) (1) For each of the years ended December 31, 2017 , 2016 , and 2015 , all common shares potentially issuable in connection with outstanding restricted stock unit awards have been excluded from the calculation of diluted EPS as the Company incurred losses during the periods, therefore, inclusion of such potential common shares would be anti-dilutive. (2) Weighted average common shares issuable upon the assumed conversion of our Convertible Preferred Stock (as defined below) totaling 23,809,500 shares were excluded from the computation of diluted EPS as such shares would be anti-dilutive.

Common and Preferred Stock Issu

Common and Preferred Stock Issuances	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Common and Preferred Stock Issuances	Common and Preferred Stock Issuances In February 2017, we issued 12,000,000 shares of common stock, par value $0.16 2 / 3 per share, at the public offering price of $2.10 per share, and 500,000 shares of 7.25% Series A Mandatory Convertible Preferred Stock (Convertible Preferred Stock), par value $1.00 per share, with a liquidation preference of $100 per share, for total net proceeds of $72.3 million , after underwriting discount and offering expenses. The dividends on our Convertible Preferred Stock will be payable on a cumulative basis when, as and if declared by our board of directors, or an authorized committee of our board of directors, at an annual rate of 7.25 percent of the liquidation preference of $100 per share. We may pay declared dividends in cash or, subject to certain limitations, in shares of our common stock, or in any combination of cash and shares of our common stock on March 31, June 30, September 30 and December 31 of each year, commencing on June 30, 2017 and ending on, and including, March 31, 2020. Unless converted earlier, each share of our Convertible Preferred Stock will automatically convert into between 41.4079 and 47.6190 shares of our common stock (respectively, the “minimum conversion rate” and “maximum conversion rate”), subject to anti-dilution adjustments. The number of shares of our common stock issuable on conversion will be determined based on the volume weighted-average price, of our common stock over the 20 consecutive trading day period beginning on, and including, the 23rd scheduled trading day immediately preceding March 31, 2020. Except in limited circumstances, at any time prior to March 31, 2020, a holder may convert Convertible Preferred Stock into shares of our common stock at the minimum conversion rate of 41.4079 shares of common stock per share of Convertible Preferred Stock, subject to anti-dilution adjustments. On May 9, 2017, our board of directors declared a cash dividend of $2.4771 per share of our Convertible Preferred Stock for the period from and including February 22, 2017 through and including June 29, 2017, which was paid on June 30, 2017 to mandatory convertible preferred shareholders of record as of June 15, 2017. On August 3, 2017, the audit committee, on behalf of our board of directors declared a cash dividend of $1.8125 per share of our Convertible Preferred Stock for the period from and including June 30, 2017 through and including September 29, 2017, which was paid on October 2, 2017 to mandatory convertible preferred shareholders of record as of September 15, 2017. On December 4, 2017, our audit committee, on behalf of our board of directors declared a cash dividend of $1.8125 per share of our Convertible Preferred Stock for the period from and including September 30, 2017 through and including December 30, 2017, which was paid on January 2, 2018 to mandatory convertible preferred shareholders of record as of December 15, 2017.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2017
Postemployment Benefits [Abstract]
Employee Benefit Plan	Employee Benefit Plan The Company sponsors a defined contribution 401(k) plan (the Plan) in which substantially all U.S. employees are eligible to participate. The Company match was suspended in May 2016 and resumed in May 2017. During 2017 the Company matched 25 percent of each participant’s pre-tax contributions in an amount not exceeding 6 percent of the participant’s compensation, up to the maximum amount of contributions allowed by law. The costs of matching contributions to the Plan were $0.7 million , $1.1 million and $4.0 million in 2017 , 2016 and 2015 , respectively. Plan participants hired prior to July 2017 become 100 percent vested immediately in the Company’s matching contributions, and plan participants hired after July 2017 become vested on a pro-rata basis over three years.

Reportable Segments

Reportable Segments	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Reportable Segments	Reportable Segments Our business is comprised of two business lines: (1) Drilling Services and (2) Rental Tools Services. We report our Drilling Services business as two reportable segments: (1) U.S. (Lower 48) Drilling and (2) International & Alaska Drilling. We report our Rental Tools Services business as two reportable segments: (1) U.S. Rental Tools and (2) International Rental Tools. Within the four reportable segments, we have aggregated our Arctic, Eastern Hemisphere and Latin America business units under International & Alaska Drilling, one business unit under U.S. (Lower 48) Drilling, one business unit under U.S. Rental Tools and one business unit under International Rental Tools, for a total of six business units. The Company has aggregated each of its business units in one of the four reporting segments based on the guidelines of the FASB ASC Topic No. 280, Segment Reporting. We eliminate inter-segment revenues and expenses. We disclose revenues under the four reportable segments based on the similarity of the use and markets for the groups of products and services within each segment. Drilling Services Business In our Drilling Services business, we drill oil, natural gas and geothermal wells for customers in both the U.S. and international markets. We provide this service with both Company-owned rigs and customer-owned rigs. We refer to the provision of drilling services with customer-owned rigs as our operations and management (“O&M”) service in which operators own their own drilling rigs but choose Parker Drilling to operate and manage the rigs for them. The nature and scope of activities involved in drilling an oil and natural gas well is similar whether it is drilled with a Company-owned rig (as part of a traditional drilling contract) or a customer-owned rig (as part of an O&M contract). In addition, we provide project-related services, such as engineering, procurement, project management and commissioning of customer-owned drilling rig projects. We have extensive experience and expertise in drilling geologically challenging wells and in managing the logistical and technological challenges of operating in remote, harsh and ecologically sensitive areas. U.S. (Lower 48) Drilling Our U.S. (Lower 48) Drilling segment provides drilling services with our Gulf of Mexico (“GOM”) barge drilling rig fleet, and markets our U.S. (Lower 48)-based O&M services. Our GOM barge drilling fleet operates barge rigs that drill for oil and natural gas in shallow waters in and along the inland waterways and coasts of Louisiana, Alabama and Texas. The majority of these wells are drilled in shallow water depths ranging from 6 to 12 feet. Our rigs are suitable for a variety of drilling programs, from inland coastal waters requiring shallow draft barges, to open water drilling on both state and federal water projects requiring more robust capabilities. The barge drilling industry in the GOM is characterized by cyclical activity where utilization and dayrates are typically driven by oil and natural gas prices and our customers’ access to project financing. Contract terms typically consist of well-to-well or multi-well programs, most commonly ranging from 20 to 180 days. International & Alaska Drilling Our International & Alaska Drilling segment provides drilling services, using both Company-owned rigs and O&M contracts, and project-related services. The drilling markets in which this segment operates have one or more of the following characteristics: • customers typically are major, independent, or national oil and natural gas companies or integrated service providers; • drilling programs in remote locations with little infrastructure, requiring a large inventory of spare parts and other ancillary equipment and self-supported service capabilities; • complex wells and/or harsh environments (such as high pressures, deep depths, hazardous or geologically challenging conditions and sensitive environments) requiring specialized equipment and considerable experience to drill; and • O&M contracts that generally cover periods of one year or more. During the year ended December 31, 2017, we had rigs operating on Sakhalin Island, Russia and in Alaska, Kazakhstan, the Kurdistan Region of Iraq, and Guatemala. In addition, we had O&M and ongoing project-related services for customer-owned rigs in Kuwait, Canada and on Sakhalin Island, Russia. Rental Tools Services Business In our Rental Tools Services business, we provide premium rental equipment and services to exploration & production (“E&P”) companies, drilling contractors and service companies on land and offshore in the U.S. and select international markets. Tools we provide include standard and heavy-weight drill pipe, all of which are available with standard or high-torque connections, tubing, drill collars, pressure control equipment, including blowout preventers and more. We also provide well construction services, which include tubular running services and downhole tool rentals, well intervention services, which include whipstock, fishing and related services, and inspection and machine shop support. Rental tools are used during drilling and/or workover programs and are requested by the customer as needed, requiring us to keep a broad inventory of rental tools in stock. Rental tools are usually rented on a daily or monthly basis. U.S. Rental Tools Our U.S. Rental Tools segment is headquartered in New Iberia, Louisiana. We maintain an inventory of rental tools for deepwater, drilling, completion, workover, and production applications at facilities in Louisiana, Texas, Oklahoma, Wyoming, North Dakota and West Virginia. Our largest single market for rental tools is U.S. land drilling, a cyclical market driven primarily by oil and natural gas prices and our customers’ access to project financing. A portion of our U.S. rental tools business is supplying tubular goods and other equipment to offshore GOM customers. International Rental Tools Our International Rental Tools segment is headquartered in Dubai, United Arab Emirates. We maintain an inventory of rental tools and provide well construction, well intervention, and surface and tubular services to our customers in the Middle East, Latin America, United Kingdom, Europe, and Asia-Pacific regions. The following table represents the results of operations by reportable segment: Year Ended December 31, Dollars in thousands 2017 2016 2015 Revenues: (1) Drilling Services: U.S. (Lower 48) Drilling $ 12,389 $ 5,429 $ 30,358 International & Alaska Drilling 247,254 287,332 435,096 Total Drilling Services 259,643 292,761 465,454 Rental Tools Services: U.S. Rental Tools 121,937 71,613 141,889 International Rental Tools 60,940 62,630 104,840 Total Rental Tools Services 182,877 134,243 246,729 Total revenues 442,520 427,004 712,183 Operating gross margin: (2) Drilling Services: U.S. (Lower 48) Drilling (20,656 ) (34,353 ) (28,309 ) International & Alaska Drilling (6,248 ) 9,272 45,211 Total Drilling Services (26,904 ) (25,081 ) 16,902 Rental Tools Services: U.S. Rental Tools 15,651 (22,372 ) 17,380 International Rental Tools (24,087 ) (27,859 ) (4,583 ) Total Rental Tools Services (8,436 ) (50,231 ) 12,797 Total operating gross margin (35,340 ) (75,312 ) 29,699 General and administrative expense (25,676 ) (34,332 ) (36,190 ) Provision for reduction in carrying value of certain assets (1,938 ) — (12,490 ) Gain (loss) on disposition of assets, net (2,851 ) (1,613 ) 1,643 Total operating income (loss) (65,805 ) (111,257 ) (17,338 ) Interest expense (44,226 ) (45,812 ) (45,155 ) Interest income 244 58 269 Other income (loss) 126 367 (9,747 ) Income (loss) from continuing operations before income taxes $ (109,661 ) $ (156,644 ) $ (71,971 ) (1) For the years ended December 31, 2017 , 2016 , and 2015 , our largest customer, ENL , constituted approximately 31.3 percent , 38.7 percent , and 27.9 percent , respectively, of our total consolidated revenues and approximately 55.9 percent , 57.5 percent , and 45.6 percent , respectively, of our International & Alaska Drilling segment revenues. Excluding reimbursable revenues of $50.8 million , $67.0 million , and $75.8 million , ENL constituted approximately 22.7 percent , 27.5 percent , and 19.7 percent , respectively, of our total consolidated revenues and approximately 46.1 percent , 45.0 percent , and 35.3 percent , respectively of our International & Alaska Drilling segment revenues. For the year ended December 31, 2017 , our second largest customer, BP, constituted 9.7 percent , of our total consolidated revenues and approximately 17.4 percent of our International & Alaska Drilling segment revenues. (2) Operating gross margin is calculated as revenues less direct operating expenses, including depreciation and amortization expense. The following table represents capital expenditures and depreciation and amortization by reportable segment: Year Ended December 31, Dollars in thousands 2017 2016 2015 Capital expenditures: U.S. (Lower 48) Drilling $ 230 $ 264 $ 2,731 International & Alaska Drilling 3,673 5,258 13,458 U.S. Rental Tools 39,948 10,848 47,673 International Rental Tools 8,584 9,725 19,516 Corporate 2,098 2,859 4,819 Total capital expenditures $ 54,533 $ 28,954 $ 88,197 Depreciation and amortization: (1) U.S. (Lower 48) Drilling $ 13,521 $ 20,049 $ 22,420 International & Alaska Drilling 46,950 55,236 64,539 U.S. Rental Tools 43,489 43,769 47,453 International Rental Tools 18,413 20,741 21,782 Total depreciation and amortization $ 122,373 $ 139,795 $ 156,194 (1) For presentation purposes, for the years then ended December 31, 2017 , 2016 and 2015 depreciation for corporate assets of $8.7 million , $8.3 million , and $7.5 million , respectively, has been allocated to the corresponding reportable segments. The following table represents identifiable assets by reportable segment: Year Ended December 31, Dollars in Thousands 2017 2016 Identifiable assets: U.S. (Lower 48) Drilling $ 62,980 $ 77,628 International & Alaska Drilling 421,753 591,120 U.S. Rental Tools 198,664 126,289 International Rental Tools 168,511 170,431 Total identifiable assets 851,908 965,468 Corporate 138,371 138,083 Total assets $ 990,279 $ 1,103,551 The following table represents selected geographic information : Year Ended December 31, Dollars in Thousands 2017 2016 2015 Revenues by geographic area: Russia $ 139,144 $ 142,538 $ 165,193 Other CIS 23,768 33,659 61,145 EMEA & Asia 64,572 79,870 148,015 Latin America 11,594 12,952 69,989 United States 177,630 127,596 231,779 Other (1) 25,812 30,389 36,062 Total revenues $ 442,520 $ 427,004 $ 712,183 Long-lived assets by geographic area: (2) Russia $ 19,415 $ 21,395 Other CIS 29,402 35,914 EMEA & Asia 108,621 116,857 Latin America 38,959 48,528 United States 429,374 470,745 Other (1) — — Total long-lived assets $ 625,771 $ 693,439 (1) This category includes our Canada O&M operations and our project services activities. Revenues generated by our project service activities benefit our various geographic locations. (2) Long-lived assets consist of property, plant and equipment, net.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company has various lease agreements for office space, equipment, vehicles and personal property. These obligations extend through 2025 and are typically non-cancelable. Most leases contain renewal options and certain of the leases contain escalation clauses. Future minimum lease payments as of December 31, 2017 , under operating leases with non-cancelable terms are as follows: Dollars in Thousands Year Ended 2018 $ 6,867 2019 4,742 2020 3,009 2021 1,409 2022 902 Thereafter 1,413 Total $ 18,342 Total rent expense for all operating leases amounted to $23.8 million , $21.8 million and $19.2 million for the years then ended December 31, 2017 , 2016 , and 2015 , respectively. Self Insurance We are self-insured for certain losses relating to workers’ compensation, employers’ liability, general liability (for onshore liability), protection and indemnity (for offshore liability) and property damage. Our exposure (that is, the retention or deductible) per occurrence is $250,000 for worker’s compensation and employer’s liability, and $500,000 for general liability, protection and indemnity and maritime employers’ liability (Jones Act). There is no annual aggregate deductible for protection and indemnity and maritime employers’ liability claims. The annual aggregate deductible is reduced by every dollar that exceeds the $500,000 per occurrence retention. We also assume retention for foreign casualty exposures of $100,000 for workers’ compensation, employers’ liability, and $1,000,000 for general liability losses and a $100,000 deductible for auto liability claims. For all primary insurances mentioned above, the Company has excess coverage for those claims that exceed the retention and annual aggregate deductible. We maintain actuarially-determined accruals in our consolidated balance sheets to cover the self-insurance retentions. We have self-insured retentions for certain other losses relating to rig, equipment, property, business interruption and political, war, and terrorism risks which vary according to the type of rig and line of coverage. Political risk insurance is procured for international operations. However, this coverage may not adequately protect us against liability from all potential consequences. As of December 31, 2017 and 2016 , our gross self-insurance accruals for workers’ compensation, employers’ liability, general liability, protection and indemnity and maritime employers’ liability totaled $3.2 million and $3.9 million , respectively and the related insurance recoveries/receivables were $1.9 million and $1.5 million , respectively. Other Commitments We have entered into employment agreements with certain members of management with automatic one year renewal periods at expiration dates. The agreements provide for, among other things, compensation, benefits and severance payments. The employment agreements also provide for lump sum compensation and benefits in the event of termination within two years following a change in control of the Company. Contingencies We are a party to various lawsuits and claims arising out of the ordinary course of business. We estimate the range of our liability related to pending litigation when we believe the amount or range of loss can be estimated. We record our best estimate of a loss when the loss is considered probable. When a liability is probable and there is a range of estimated loss with no best estimate in the range, we record the minimum estimated liability related to the lawsuits or claims. As additional information becomes available, we assess the potential liability related to our pending litigation and claims and revise our estimates. Due to uncertainties related to the resolution of lawsuits and claims, the ultimate outcome may differ significantly from our estimates. In the opinion of management and based on liability accruals provided, our ultimate exposure with respect to these pending lawsuits and claims is not expected to have a material adverse effect on our consolidated financial position or cash flows, although they could have a material adverse effect on our results of operations for a particular reporting period.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Consulting Agreement On December 31, 2013, Robert L. Parker, Jr., our former Executive Chairman, retired as an employee of the Company. Mr. Parker continued to serve as Chairman of the Company’s board of directors until the annual meeting of stockholders held in 2014, at which time Mr. Parker was elected to the board for a three -year term. In connection with Mr. Parker’s retirement, the Company and Mr. Parker entered into a Retirement and Separation Agreement dated as of November 1, 2013 (the “Retirement Agreement”). Under the terms of the Retirement Agreement, in 2014 Mr. Parker received a cash bonus of $411,188 , a cash payment of $1,096,687 pursuant to the 2010 Long-Term Incentive Program of the Company’s Stock Plan, and a severance payment of $2,488,024 . The value of benefits provided by the Company to Mr. Parker in 2014 was $12,876 . In 2015, Mr. Parker received a cash payment of $706,082 pursuant to the 2010 Long-Term Incentive Program of the Company’s Stock Plan. The value of benefits provided by the Company to Mr. Parker in 2015 was $14,441 . In addition, Mr. Parker was paid $250,000 during each of 2015, 2016 and 2017 in exchange for his agreement to provide additional support to the Company when needed in matters where his historical and industry knowledge, client relationships and related expertise could be of particular benefit to the Company’s interests. Other Related Party Agreements During 2015 we purchased the legal rights to certain rental tool software from two employees and a relative of the employees. As part of the purchase, we paid $180,000 to the relative of the employees in 2015 and $90,000 to each employee in both January 2016 and 2017. In 2015, one of our directors acquired $550,000 aggregate principal amount of our 7.50% Notes and $650,000 aggregate principal amount of our 6.75% Notes.

Supplementary Information

Supplementary Information	12 Months Ended
	Dec. 31, 2017
Additional Financial Information Disclosure [Abstract]
Supplementary Information	Supplementary Information The significant components of “Accrued liabilities” on our consolidated balance sheets as of December 31, 2017 and 2016 are presented below: Year Ended December 31, Dollars in Thousands 2017 2016 Accrued liabilities: Accrued Payroll & Related Benefits $ 27,252 $ 20,714 Accrued Interest Expense 18,169 18,169 Accrued Professional Fees & Other 7,888 13,039 Deferred Mobilization Fees 3,149 2,681 Workers’ Compensation Liabilities, net 1,265 1,583 Total accrued liabilities $ 57,723 $ 56,186

Parent, Guarantor, Non-Guaranto

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements	Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements Set forth on the following pages are the consolidating condensed financial statements of Parker Drilling. The Company’s 2015 Secured Credit Agreement and Senior Notes are fully and unconditionally guaranteed by substantially all of our direct and indirect domestic subsidiaries other than immaterial subsidiaries and subsidiaries generating revenues primarily outside the United States, subject to the following customary release provisions: • in connection with any sale or other disposition of all or substantially all of the assets of that guarantor (including by way of merger or consolidation) to a person that is not (either before or after giving effect to such transaction) a subsidiary of the Company; • in connection with any sale of such amount of capital stock as would result in such guarantor no longer being a subsidiary to a person that is not (either before or after giving effect to such transaction) a subsidiary of the Company; • if the Company designates any restricted subsidiary that is a guarantor as an unrestricted subsidiary; • if the guarantee by a guarantor of all other indebtedness of the Company or any other guarantor is released, terminated or discharged, except by, or as a result of, payment under such guarantee; or • upon legal defeasance or covenant defeasance (satisfaction and discharge of the indenture). There are currently no restrictions on the ability of the restricted subsidiaries to transfer funds to Parker Drilling in the form of cash dividends, loans or advances. Parker Drilling is a holding company with no operations, other than through its subsidiaries. Separate financial statements for each guarantor company are not provided as the company complies with the exception to Rule 3-10(f) of Regulation S-X. All guarantor subsidiaries are owned 100 percent by the parent company. We are providing consolidating condensed financial information of the parent, Parker Drilling, the guarantor subsidiaries, and the non-guarantor subsidiaries as of December 31, 2017 and December 31, 2016 and for the years ended December 31, 2017 , 2016 , and 2015 . The consolidating condensed financial statements present investments in both the consolidated and unconsolidated subsidiaries using the equity method of accounting. PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 168,490 $ 355,044 $ (81,014 ) $ 442,520 Operating expenses — 94,546 341,955 (81,014 ) 355,487 Depreciation and amortization — 81,260 41,113 — 122,373 Total operating gross margin (loss) — (7,316 ) (28,024 ) — (35,340 ) General and administration expense (1) (323 ) (24,887 ) (466 ) — (25,676 ) Provision for reduction in carrying value of certain assets — — (1,938 ) — (1,938 ) Gain (loss) on disposition of assets, net — (247 ) (2,604 ) — (2,851 ) Total operating income (loss) (323 ) (32,450 ) (33,032 ) — (65,805 ) Other income (expense): Interest expense (47,135 ) (220 ) (7,906 ) 11,035 (44,226 ) Interest income 831 744 9,704 (11,035 ) 244 Other — 71 55 — 126 Equity in net earnings of subsidiaries (40,752 ) — — 40,752 — Total other income (expense) (87,056 ) 595 1,853 40,752 (43,856 ) Income (loss) before income taxes (87,379 ) (31,855 ) (31,179 ) 40,752 (109,661 ) Income tax expense (benefit): Current tax expense (benefit) 26,537 (22,494 ) 5,221 — 9,264 Deferred tax expense (benefit) 4,785 (7,750 ) 2,741 — (224 ) Total income tax expense (benefit) 31,322 (30,244 ) 7,962 — 9,040 Net income (loss) (118,701 ) (1,611 ) (39,141 ) 40,752 (118,701 ) Less: Net income attributable to noncontrolling interest — — — — — Net income (loss) attributable to controlling interest $ (118,701 ) $ (1,611 ) $ (39,141 ) $ 40,752 $ (118,701 ) Less: Mandatory convertible preferred stock dividend $ 3,051 $ — $ — $ — $ 3,051 Net income (loss) available to common stockholders $ (121,752 ) $ (1,611 ) $ (39,141 ) $ 40,752 $ (121,752 ) (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 152,263 $ 380,931 $ (106,190 ) $ 427,004 Operating expenses — 103,013 365,698 (106,190 ) 362,521 Depreciation and amortization — 90,218 49,577 — 139,795 Total operating gross margin (loss) — (40,968 ) (34,344 ) — (75,312 ) General and administration expense (1) (410 ) (29,355 ) (4,567 ) — (34,332 ) Provision for reduction in carrying value of certain assets — — — — — Gain (loss) on disposition of assets, net — (565 ) (1,048 ) — (1,613 ) Total operating income (loss) (410 ) (70,888 ) (39,959 ) — (111,257 ) Other income (expense): Interest expense (48,160 ) (642 ) (6,434 ) 9,424 (45,812 ) Interest income 758 695 8,029 (9,424 ) 58 Other — 484 (117 ) — 367 Equity in net earnings of subsidiaries (94,469 ) — — 94,469 — Total other income (expense) (141,871 ) 537 1,478 94,469 (45,387 ) Income (loss) before income taxes (142,281 ) (70,351 ) (38,481 ) 94,469 (156,644 ) Income tax expense (benefit): Current tax expense (benefit) 40,562 (35,572 ) 118 — 5,108 Deferred tax expense (benefit) 47,971 14,846 6,245 — 69,062 Total income tax expense (benefit) 88,533 (20,726 ) 6,363 — 74,170 Net income (loss) (230,814 ) (49,625 ) (44,844 ) 94,469 (230,814 ) Less: Net income attributable to noncontrolling interest — — — — — Net income (loss) attributable to controlling interest $ (230,814 ) $ (49,625 ) $ (44,844 ) $ 94,469 $ (230,814 ) Less: Mandatory convertible preferred stock dividend $ — $ — $ — $ — $ — Net income (loss) available to common stockholders $ (230,814 ) $ (49,625 ) $ (44,844 ) $ 94,469 $ (230,814 ) (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 254,182 $ 584,204 $ (126,203 ) $ 712,183 Operating expenses — 143,563 508,930 (126,203 ) 526,290 Depreciation and amortization — 95,071 61,123 — 156,194 Total operating gross margin (loss) — 15,548 14,151 — 29,699 General and administration expense (1) (1,279 ) (38,643 ) 3,732 — (36,190 ) Provision for reduction in carrying value of certain assets — (2,088 ) (10,402 ) — (12,490 ) Gain (loss) on disposition of assets, net — 439 1,204 — 1,643 Total operating income (loss) (1,279 ) (24,744 ) 8,685 — (17,338 ) Other income (expense): Interest expense (47,659 ) (1,035 ) (11,579 ) 15,118 (45,155 ) Interest income 1,424 852 13,111 (15,118 ) 269 Loss on extinguishment of debt — — — — — Other — (200 ) (9,547 ) — (9,747 ) Equity in net earnings of subsidiaries (36,631 ) — — 36,631 — Total other income (expense) (82,866 ) (383 ) (8,015 ) 36,631 (54,633 ) Income (loss) before income taxes (84,145 ) (25,127 ) 670 36,631 (71,971 ) Income tax expense (benefit): Current tax expense (benefit) 29,643 (22,970 ) 12,931 — 19,604 Deferred tax expense (benefit) (18,715 ) 11,718 9,706 — 2,709 Total income tax expense (benefit) 10,928 (11,252 ) 22,637 — 22,313 Net income (loss) (95,073 ) (13,875 ) (21,967 ) 36,631 (94,284 ) Less: Net income attributable to noncontrolling interest — — 789 — 789 Net income (loss) attributable to controlling interest $ (95,073 ) $ (13,875 ) $ (22,756 ) $ 36,631 $ (95,073 ) Less: Mandatory convertible preferred stock dividend $ — $ — $ — $ — $ — Net income (loss) available to common stockholders $ (95,073 ) $ (13,875 ) $ (22,756 ) $ 36,631 $ (95,073 ) (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year Ended December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income (loss): Net income (loss) $ (118,701 ) $ (1,611 ) $ (39,141 ) $ 40,752 $ (118,701 ) Other comprehensive gain (loss), net of tax: Currency translation difference on related borrowings — — 643 — $ 643 Currency translation difference on foreign currency net investments — — 2,689 — $ 2,689 Total other comprehensive gain (loss), net of tax: — — 3,332 — 3,332 Comprehensive income (loss) attributable to controlling interest $ (118,701 ) $ (1,611 ) $ (35,809 ) $ 40,752 $ (115,369 ) PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year Ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income (loss): Net income (loss) $ (230,814 ) $ (49,625 ) $ (44,844 ) $ 94,469 $ (230,814 ) Other comprehensive gain (loss), net of tax: Currency translation difference on related borrowings — — (691 ) — (691 ) Currency translation difference on foreign currency net investments — — (4,265 ) — (4,265 ) Total other comprehensive gain (loss), net of tax: — — (4,956 ) — (4,956 ) Comprehensive income (loss) attributable to controlling interest $ (230,814 ) $ (49,625 ) $ (49,800 ) $ 94,469 $ (235,770 ) PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ (95,073 ) $ (13,875 ) $ (21,967 ) $ 36,631 $ (94,284 ) Other comprehensive gain (loss), net of tax: Currency translation difference on related borrowings — — (2,012 ) — (2,012 ) Currency translation difference on foreign currency net investments — — 405 — 405 Total other comprehensive gain (loss), net of tax: — — (1,607 ) — (1,607 ) Comprehensive income (loss) (95,073 ) (13,875 ) (23,574 ) 36,631 (95,891 ) Comprehensive (income) loss attributable to noncontrolling interest — — 4,606 — 4,606 Comprehensive income (loss) attributable to controlling interest $ (95,073 ) $ (13,875 ) $ (18,968 ) $ 36,631 $ (91,285 ) PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 75,342 $ 20,655 $ 45,552 $ — $ 141,549 Accounts and notes receivable, net — 32,338 90,173 — 122,511 Rig materials and supplies — (3,025 ) 34,440 — 31,415 Deferred costs — 17 3,128 — 3,145 Other tax assets — — 4,889 — 4,889 Other current assets — 6,345 7,982 — 14,327 Total current assets 75,342 56,330 186,164 — 317,836 Property, plant and equipment, net (19 ) 428,556 197,234 — 625,771 Goodwill — 6,708 — — 6,708 Intangible assets, net — 7,128 — — 7,128 Investment in subsidiaries and intercompany advances 2,955,050 2,971,456 3,955,553 (9,882,059 ) — Other noncurrent assets (261,232 ) 237,755 537,124 (480,811 ) 32,836 Total assets $ 2,769,141 $ 3,707,933 $ 4,876,075 $ (10,362,870 ) $ 990,279 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities (51,060 ) 179,247 588,536 (617,477 ) 99,246 Accrued income taxes 76,883 (56,870 ) (15,583 ) — 4,430 Total current liabilities 25,823 122,377 572,953 (617,477 ) 103,676 Long-term debt, net 577,971 — — — 577,971 Other long-term liabilities 2,867 5,741 3,825 — 12,433 Deferred tax liability (1 ) — 79 — 78 Intercompany payable 1,865,810 1,465,744 2,430,340 (5,761,894 ) — Total liabilities 2,472,470 1,593,862 3,007,197 (6,379,371 ) 694,158 Total equity 296,671 2,114,071 1,868,878 (3,983,499 ) 296,121 Total liabilities and stockholders’ equity $ 2,769,141 $ 3,707,933 $ 4,876,075 $ (10,362,870 ) $ 990,279 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 65,000 $ 14,365 $ 40,326 $ — $ 119,691 Accounts and notes receivable, net — 15,749 97,482 — 113,231 Rig materials and supplies — (5,369 ) 37,723 — 32,354 Deferred costs — 16 1,420 — 1,436 Other tax assets (50,296 ) 35,733 21,038 — 6,475 Other current assets — 5,555 7,576 — 13,131 Total current assets 14,704 66,049 205,565 — 286,318 Property, plant and equipment, net (19 ) 469,927 223,531 — 693,439 Goodwill — 6,708 — — 6,708 Intangible assets, net — 9,434 494 — 9,928 Investment in subsidiaries and intercompany advances 2,979,413 2,932,375 3,676,402 (9,588,190 ) — Other noncurrent assets (253,679 ) 301,771 539,877 (480,811 ) 107,158 Total assets $ 2,740,419 $ 3,786,264 $ 4,645,869 $ (10,069,001 ) $ 1,103,551 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities (10,080 ) 149,210 577,188 (617,477 ) 98,841 Accrued income taxes — 1,576 2,504 — 4,080 Total current liabilities (10,080 ) 150,786 579,692 (617,477 ) 102,921 Long-term debt, net 576,326 — — — 576,326 Other long-term liabilities 2,867 9,338 3,631 — 15,836 Deferred tax liability (28 ) 73,039 (3,678 ) — 69,333 Intercompany payables 1,828,317 1,437,417 2,161,864 (5,427,598 ) — Total liabilities 2,397,402 1,670,580 2,741,509 (6,045,075 ) 764,416 Total equity 343,017 2,115,684 1,904,360 (4,023,926 ) 339,135 Total liabilities and stockholders’ equity $ 2,740,419 $ 3,786,264 $ 4,645,869 $ (10,069,001 ) $ 1,103,551 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (118,701 ) $ (1,611 ) $ (39,141 ) $ 40,752 (118,701 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 81,260 41,113 — 122,373 (Gain) loss on disposition of assets — 247 2,604 — 2,851 Deferred tax expense (benefit) 4,785 (7,750 ) 2,741 — (224 ) Provision for reduction in carrying value of certain assets — — 1,938 — 1,938 Expenses not requiring cash 5,651 (218 ) 9,880 (11,062 ) 4,251 Change in assets and liabilities: Accounts and notes receivable — (16,540 ) 13,483 (6,571 ) (9,628 ) Rig materials and supplies — (760 ) 5,470 — 4,710 Other current assets (50,296 ) 34,941 14,036 — (1,319 ) Accounts payable and accrued liabilities (4,393 ) 56,354 262,884 (323,559 ) (8,714 ) Accrued income taxes 79,319 (60,882 ) (17,899 ) — 538 Other assets 24,722 (35,829 ) (280,675 ) 300,440 8,658 Net cash provided by (used in) operating activities (58,913 ) 49,212 16,434 — 6,733 Cash flows from investing activities: Capital expenditures — (42,990 ) (11,543 ) — (54,533 ) Proceeds from the sale of assets — 68 335 — 403 Net cash provided by (used in) investing activities — (42,922 ) (11,208 ) — (54,130 ) Cash flows from financing activities: Proceeds from the issuance of common stock 25,200 — — — 25,200 Proceeds from the issuance of mandatory convertible preferred stock 50,000 — — — 50,000 Payment of equity issuance costs (2,864 ) — — — (2,864 ) Mandatory convertible preferred stock dividend (2,145 ) — — — (2,145 ) Shares surrendered in lieu of tax (936 ) — — — (936 ) Net cash provided by (used in) financing activities 69,255 — — — 69,255 Net increase (decrease) in cash and cash equivalents 10,342 6,290 5,226 — 21,858 Cash and cash equivalents at beginning of year 65,000 14,365 40,326 — 119,691 Cash and cash equivalents at end of year $ 75,342 $ 20,655 $ 45,552 $ — $ 141,549 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (230,814 ) $ (49,625 ) $ (44,844 ) $ 94,469 (230,814 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 90,218 49,577 — 139,795 Accretion of contingent consideration — 419 — — 419 Loss on extinguishment of debt 1,088 — — — 1,088 (Gain) loss on disposition of assets — 565 1,048 — 1,613 Deferred tax expense (benefit) 47,971 14,846 6,245 — 69,062 Expenses not requiring cash 9,545 (1,624 ) (5,403 ) — 2,518 Equity in net earnings (losses) of subsidiaries 94,469 — — (94,469 ) — Change in assets and liabilities: Accounts and notes receivable — 25,923 34,468 — 60,391 Rig materials and supplies — (73 ) (1,679 ) — (1,752 ) Other current assets 50,296 (35,322 ) (12,834 ) — 2,140 Accounts payable and accrued liabilities (121,016 ) 97,315 4,207 — (19,494 ) Accrued income taxes (10,381 ) (626 ) 4,585 — (6,422 ) Other assets (299 ) 101 4,095 — 3,897 Net cash provided by (used in) operating activities (159,141 ) 142,117 39,465 — 22,441 Cash flows from investing activities: Capital expenditures — (15,384 ) (13,570 ) — (28,954 ) Proceeds from the sale of assets — 437 2,004 — 2,441 Net cash provided by (used in) investing activities — (14,947 ) (11,566 ) — (26,513 ) Cash flows from financing activities: Payment for noncontrolling interest (3,375 ) — — — (3,375 ) Payment of contingent consideration — (6,000 ) — — (6,000 ) Shares surrendered in lieu of tax (1,156 ) (1,156 ) Intercompany advances, net 154,687 (120,659 ) (34,028 ) — — Net cash provided by (used in) financing activities 150,156 (126,659 ) (34,028 ) — (10,531 ) Net increase (decrease) in cash and cash equivalents (8,985 ) 511 (6,129 ) — (14,603 ) Cash and cash equivalents at beginning of year 73,985 13,854 46,455 — 134,294 Cash and cash equivalents at end of year $ 65,000 $ 14,365 $ 40,326 $ — $ 119,691 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (95,073 ) $ (13,875 ) $ (21,967 ) $ 36,631 $ (94,284 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 95,071 61,123 — 156,194 Accretion of contingent consideration — 826 — — 826 Gain (loss) on disposition of assets — (439 ) (1,204 ) — (1,643 ) Deferred tax expense (benefit) (18,715 ) 11,718 9,706 — 2,709 Excess tax benefit (expense) from stock-based compensation (1,045 ) — — — (1,045 ) Provision for reduction in carrying value of certain assets — 2,088 10,402 — 12,490 Expenses not requiring cash 7,344 854 (2,062 ) — 6,136 Equity in net earnings of subsidiaries 36,631 — — (36,631 ) — Change in assets and liabilities: Accounts and notes receivable (33 ) 61,818 42,210 — 103,995 Rig materials and supplies — 51 2,671 — 2,722 Other current assets 19,885 (16,257 ) 8,920 — 12,548 Accounts payable and accrued liabilities 10,228 (21,396 ) (16,257 ) — (27,425 ) Accrued income taxes 15,368 (9,405 ) (13,920 ) — (7,957 ) Other assets (198,955 ) 186,591 9,208 — (3,156 ) Net cash provided by (used in) operating activities (224,365 ) 297,645 88,830 — 162,110 Cash flows from investing activities: Capital expenditures — (58,817 ) (29,380 ) — (88,197 ) Proceeds from the sale of assets — 500 330 — 830 Proceeds from insurance settlements — — 2,500 — 2,500 Acquisitions, net of cash acquired (3,375 ) (10,431 ) — — (13,806 ) Divestitures, net of cash paid — — (2,570 ) — (2,570 ) Net cash provided by (used in) investing activities (3,375 ) (68,748 ) (29,120 ) — (101,243 ) Cash flows from financing activities: Proceeds from debt issuance — — — — — Repayments of long term debt (30,000 ) — — — (30,000 ) Payments of debt issuance costs (1,996 ) — — — (1,996 ) Payment of contingent consideration — (2,000 ) — — (2,000 ) Shares surrendered in lieu of tax (1,033 ) (1,033 ) Intercompany advances, net 298,026 (226,589 ) (71,437 ) — — Net cash provided by (used in) financing activities 264,997 (228,589 ) (71,437 ) — (35,029 ) Net increase (decrease) in cash and cash equivalents 37,257 308 (11,727 ) — 25,838 Cash and cash equivalents at beginning of year 36,728 13,546 58,182 — 108,456 Cash and cash equivalents at end of year $ 73,985 $ 13,854 $ 46,455 $ — $ 134,294

Selected Quarterly Financial Da

Selected Quarterly Financial Data	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data	Selected Quarterly Financial Data Quarter Year 2017 First Second Third Fourth Total (Dollars in Thousands Except Per Share Amounts) (Unaudited) Revenues $ 98,271 $ 109,607 $ 118,308 $ 116,334 $ 442,520 Operating gross margin (loss) $ (19,745 ) $ (11,016 ) $ 121 $ (4,700 ) $ (35,340 ) Operating income (loss) $ (27,137 ) $ (17,632 ) $ (6,815 ) $ (14,221 ) $ (65,805 ) Net income (loss) attributable to controlling interest $ (39,809 ) $ (29,888 ) $ (20,311 ) $ (28,693 ) $ (118,701 ) Net income (loss) available to common stockholders $ (39,809 ) $ (31,127 ) $ (21,217 ) $ (29,599 ) $ (121,752 ) Basic earnings per share — net income (loss) (1) $ (0.31 ) $ (0.23 ) $ (0.15 ) $ (0.21 ) $ (0.89 ) Diluted earnings per share — net income (loss) (1) $ (0.31 ) $ (0.23 ) $ (0.15 ) $ (0.21 ) $ (0.89 ) Quarter Year 2016 First Second Third Fourth Total (Dollars in Thousands Except Per Share Amounts) (Unaudited) Revenues $ 130,503 $ 105,287 $ 97,189 $ 94,025 $ 427,004 Operating gross margin (loss) $ (13,428 ) $ (20,225 ) $ (21,965 ) $ (19,694 ) $ (75,312 ) Operating income (loss) $ (23,269 ) $ (28,222 ) $ (29,576 ) $ (30,190 ) $ (111,257 ) Net income (loss) attributable to controlling interest $ (95,835 ) $ (39,822 ) $ (46,228 ) $ (48,929 ) $ (230,814 ) Net income (loss) available to common stockholders $ (95,835 ) $ (39,822 ) $ (46,228 ) $ (48,929 ) $ (230,814 ) Basic earnings per share — net income (loss) $ (0.78 ) $ (0.32 ) $ (0.37 ) $ (0.39 ) $ (1.86 ) Diluted earnings per share — net income (loss) $ (0.78 ) $ (0.32 ) $ (0.37 ) $ (0.39 ) $ (1.86 ) (1) As a result of shares issued during the year, earnings (loss) per share for each of the year’s four quarters, which are based on weighted average shares outstanding during each quarter, may not equal the annual earnings (loss) per share, which is based on the weighted average shares outstanding during the year. Additionally, as a result of rounding to the thousands, earnings per share may not equal the year-to-date results.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2017, the FASB issued Accounting Standards Update (ASU) No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The standard simplifies the subsequent measurement of goodwill by eliminating the second step of the goodwill impairment test. This standard is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. Effective January 1, 2017, we adopted ASU 2017-04 and it did not have a material impact on our consolidated statements of financial position, results of operations, cash flows, and on the disclosures contained in our notes to the consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory. The ASU requires entities to recognize at the transaction date the income tax consequences of intercompany asset transfers other than inventory. The standard becomes effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, but only at the beginning of the annual period for which no financial statements have been issued or been made available for issuance. Effective January 1, 2017, we adopted ASU 2016-16 prospectively and it did not have a material impact on our consolidated statements of financial position, results of operations and cash flows. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The ASU is intended to reduce diversity in current practice regarding the manner in which certain cash receipts and cash payments are presented and classified in the cash flow statement. The standard becomes effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. Effective January 1, 2017, we adopted ASU 2016-15 retrospectively and it did not have a material impact on our statement of cash flows. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718). The objective of this update is to simplify several aspects of accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard became effective for public companies for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Effective January 1, 2017, we adopted ASU 2016-09. The adoption did not have a material impact on our consolidated statements of financial position, results of operations or cash flows. In accordance with the ASU requirements, we adopted certain aspects of the ASU as follows: • Accounting for excess tax benefits and certain tax deficiencies - The guidance requires all excess tax benefits, and certain tax deficiencies to be recorded through the income statement instead of additional paid in capital, where the activity was historically recorded. We adopted this change prospectively. There is no cumulative effect of the adoption as we have no unrecognized excess tax benefits or minimum withholding requirements that impact the income statement and, accordingly, prior periods have not been adjusted. • Cash flow presentation of excess tax benefits and certain tax deficiencies - We adopted this change retrospectively. Tax related cash flows from share based payments are to be presented as operating activities in the statement of cash flows. Consequently, activity for the year ended December 31, 2016 and 2015, recorded through equity, has been reclassified from financing activities to operating activities in the statement of cash flows. The impact of such reclassification was no minal for 2016. For the year ended December 31, 2015, we have reclassified $1.0 million from operating activities to financing activities. • Accounting for forfeitures - We have made an entity-wide accounting policy election to continue to estimate forfeitures and adjust the estimate when it is likely to change. This election does not change our current policy and, accordingly, there is no impact on our consolidated statements of financial position, results of operations or cash flows. • Cash paid to a tax authority when shares are withheld to satisfy the employer’s statutory income tax withholding obligation - We adopted this change retrospectively. The activity is now required to be presented as financing activities in the statement of cash flows. For the year ended December 31, 2016 and 2015, we have reclassified $1.2 million and $1.0 million , respectively, from operating activities to financing activities. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This accounting standards update requires (a) an entity to separate the lease components from the non-lease components in a contract where the lease component will be accounted for under ASU 2016-02 and the non-lease component will be accounted for under ASU 2014-09, (b) recognition of lease assets and lease liabilities by lessees and derecognition of the leased asset and recognition of a net investment in the lease by the lessor and (c) additional disclosure requirements for both lessees and lessors. The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, although early adoption is permitted. Upon adoption, a retrospective approach is required for leases that exist, or are entered into, after the beginning of the earliest comparative period presented. Under the updated accounting standard, we have determined that our drilling contracts may contain a lease component; therefore, our adoption of the standard could require that we separately recognize revenues associated with the lease and service components. We will adopt ASU 2016-02 on January 1, 2019, and we expect to apply the modified retrospective approach. Our adoption, and the ultimate effect on our consolidated financial statements, will be based on an evaluation of the contract-specific facts and circumstances, and such effect could introduce variability to the timing of our revenue recognition relative to current accounting standards. We are evaluating the requirements to determine the effect such requirements may have on our consolidated statements of financial position, results of operations, cash flows and on the disclosures contained in our notes to the consolidated financial statements upon the adoption of ASU 2016-02. Depending on the results of the evaluation our ultimate conclusions may vary. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) which is effective for annual reporting periods that begin after December 15, 2017. This ASU supersedes the revenue recognition requirements in ASC 605 - Revenue Recognition and most industry-specific guidance throughout the Codification and provides a five step analysis for transactions to determine how and when revenue is recognized. The standard requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services and should be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the ASU recognized at the date of initial application. Effective January 1, 2018, we adopted ASU 2014-09 using the modified retrospective approach, in which we will record the cumulative effect of applying the new standard to all outstanding contracts as of January 1, 2018, as an adjustment to opening retained earnings. In applying the new standard, we plan to account for the integrated services provided within our drilling, O&M and rentals contracts as a single performance obligation composed of a series of distinct time increments, which will be satisfied over time. We will determine the total transaction price for each individual contract by estimating both fixed and variable consideration expected to be earned over the term of the contract. Consideration that does not relate to a distinct good or service, such as mobilization and contract preparation revenue, will be allocated across the single performance obligation and recognized ratably over the term of the contract. All other components of consideration within a contract, including the dayrate revenue, will continue to be recognized in the period when the services are performed. We do not anticipate the adoption of the new standard to have a material impact on our consolidated statements of financial position, results of operations and cash flows. Expanded revenue disclosures are expected in our notes to the consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40). The objective of this update is to provide guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and provide footnote disclosures. The amendments in this update become effective for public companies for the annual period after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. Effective January 1, 2017, we adopted ASU 2014-15 prospectively and it did not have a material impact on our consolidated statements of financial position, results of operations, cash flows, and on the disclosures contained in our notes to the consolidated financial statements.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2017
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II—Valuation and Qualifying Accounts Classifications Balance at beginning of year Charged to cost and expenses Charged to other accounts Deductions Balance at end of year Dollars in Thousands Year Ended December 31, 2017 Allowance for bad debt $ 8,259 $ 444 $ (414 ) $ (725 ) $ 7,564 Allowance for obsolete rig materials and supplies $ 1,166 65 — (422 ) 809 Deferred tax valuation allowance $ 171,133 $ (14,625 ) $ 1,406 $ — $ 157,914 Year Ended December 31, 2016 Allowance for bad debt $ 8,694 $ 1,483 $ 4 $ (1,922 ) $ 8,259 Allowance for obsolete rig materials and supplies $ 626 978 $ (3 ) $ (435 ) $ 1,166 Deferred tax valuation allowance $ 51,105 $ 117,707 $ 2,321 $ — $ 171,133 Year Ended December 31, 2015 Allowance for bad debt $ 11,188 $ 341 $ (825 ) $ (2,010 ) $ 8,694 Allowance for obsolete rig materials and supplies $ 530 $ — $ 236 $ (140 ) $ 626 Deferred tax valuation allowance $ 9,922 $ 40,676 $ 507 $ — $ 51,105

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Nature of Operations	Our business is comprised of two business lines: (1) Drilling Services and (2) Rental Tools Services. We report our Drilling Services business as two reportable segments: (1) U.S. (Lower 48) Drilling and (2) International & Alaska Drilling. We report our Rental Tools Services business as two reportable segments: (1) U.S. Rental Tools and (2) International Rental Tools. In our Drilling Services business, we drill oil, natural gas and geothermal wells for customers in both the U.S. and international markets. We provide this service with both Company-owned rigs and customer-owned rigs. We refer to the provision of drilling services with customer-owned rigs as our operations and management (“O&M”) service in which operators own their own drilling rigs but choose Parker Drilling to operate and manage the rigs for them. The nature and scope of activities involved in drilling an oil and natural gas well is similar whether it is drilled with a Company-owned rig (as part of a traditional drilling contract) or a customer-owned rig (as part of an O&M contract). In addition, we provide project-related services, such as engineering, procurement, project management and commissioning of customer-owned drilling rig projects. We have extensive experience and expertise in drilling geologically challenging wells and in managing the logistical and technological challenges of operating in remote, harsh and ecologically sensitive areas. Our U.S. (Lower 48) Drilling segment provides drilling services with our Gulf of Mexico (“GOM”) barge drilling rig fleet, and markets our U.S. (Lower 48)-based O&M services. Our GOM barge drilling fleet operates barge rigs that drill for oil and natural gas in shallow waters in and along the inland waterways and coasts of Louisiana, Alabama and Texas. The majority of these wells are drilled in shallow water depths ranging from 6 to 12 feet. Our rigs are suitable for a variety of drilling programs, from inland coastal waters requiring shallow draft barges, to open water drilling on both state and federal water projects requiring more robust capabilities. The barge drilling industry in the GOM is characterized by cyclical activity where utilization and dayrates are typically driven by oil and natural gas prices and our customers’ access to project financing. Contract terms typically consist of well-to-well or multi-well programs, most commonly ranging from 20 to 180 days. Our International & Alaska Drilling segment provides drilling services, using both Company-owned rigs and O&M contracts, and project-related services. The drilling markets in which this segment operates have one or more of the following characteristics: • customers typically are major, independent, or national oil and natural gas companies or integrated service providers; • drilling programs in remote locations with little infrastructure, requiring a large inventory of spare parts and other ancillary equipment and self-supported service capabilities; • complex wells and/or harsh environments (such as high pressures, deep depths, hazardous or geologically challenging conditions and sensitive environments) requiring specialized equipment and considerable experience to drill; and • O&M contracts that generally cover periods of one year or more. During the year ended December 31, 2017, we had rigs operating on Sakhalin Island, Russia and in Alaska, Kazakhstan, the Kurdistan Region of Iraq, and Guatemala. In addition, we had O&M and ongoing project-related services for customer-owned rigs in Kuwait, Canada and on Sakhalin Island, Russia. In our Rental Tools Services business, we provide premium rental equipment and services to exploration & production (“E&P”) companies, drilling contractors and service companies on land and offshore in the U.S. and select international markets. Tools we provide include standard and heavy-weight drill pipe, all of which are available with standard or high-torque connections, tubing, drill collars, pressure control equipment, including blowout preventers and more. We also provide well construction services, which include tubular running services and downhole tool rentals, well intervention services, which include whipstock, fishing and related services, and inspection and machine shop support. Rental tools are used during drilling and/or workover programs and are requested by the customer as needed, requiring us to keep a broad inventory of rental tools in stock. Rental tools are usually rented on a daily or monthly basis. Our U.S. Rental Tools segment is headquartered in New Iberia, Louisiana. We maintain an inventory of rental tools for deepwater, drilling, completion, workover, and production applications at facilities in Louisiana, Texas, Oklahoma, Wyoming, North Dakota and West Virginia. Our largest single market for rental tools is U.S. land drilling, a cyclical market driven primarily by oil and natural gas prices and our customers’ access to project financing. A portion of our U.S. rental tools business is supplying tubular goods and other equipment to offshore GOM customers. Our International Rental Tools segment is headquartered in Dubai, United Arab Emirates. We maintain an inventory of rental tools and provide well construction, well intervention, and surface and tubular services to our customers in the Middle East, Latin America, United Kingdom, Europe, and Asia-Pacific regions. We have operated in over 50 countries since beginning operations in 1934, making us among the most geographically experienced drilling contractors and rental tools providers in the world. We currently have operations in 19 countries. Parker has set numerous world records for deep and extended-reach drilling land rigs and is an industry leader in quality, health, safety and environmental practices.
Consolidation	The consolidated financial statements include the accounts of the Company and subsidiaries in which we exercise control or have a controlling financial interest, including entities, if any, in which the Company is allocated a majority of the entity’s losses or returns, regardless of ownership percentage. If a subsidiary of Parker Drilling has a 50 percent interest in an entity but Parker Drilling’s interest in the subsidiary or the entity does not meet the consolidation criteria described above, then that interest is accounted for under the equity method.
Noncontrolling Interest	We apply accounting standards related to noncontrolling interests for ownership interests in our subsidiaries held by parties other than Parker Drilling. We report noncontrolling interest as equity on the consolidated balance sheets and report net income (loss) attributable to controlling interest and to noncontrolling interest separately on the consolidated statements of operations.
Reclassifications	Certain reclassifications have been made to prior period amounts to conform to the current period presentation. These reclassifications did not materially affect our consolidated financial results.
Revenue Recognition	Drilling revenues and expenses, comprised of daywork drilling contracts, call-outs against master service agreements and engineering and related project service contracts, are recognized as services are performed and collection is reasonably assured. For certain contracts, we receive payments contractually designated for the mobilization of rigs and other drilling equipment. Mobilization payments received, and direct costs incurred for the mobilization, are deferred and recognized over the primary term of the related drilling contract; however, costs incurred to relocate rigs and other drilling equipment to areas in which a contract has not been secured are expensed as incurred. For contracts that are terminated prior to the specified term, early termination payments received by us are recognized as revenues when all contractual requirements are met. Revenues from rental activities are recognized ratably over the rental term, which is generally less than six months. Our project-related services contracts include engineering, consulting, and project management scopes of work and revenue is typically recognized on a time and materials basis.
Reimbursable Revenues	The Company recognizes reimbursements received for out-of-pocket expenses incurred as revenues and accounts for out-of-pocket expenses as direct operating costs. Such amounts totaled $57.8 million , $69.3 million , and $87.8 million during the years ended December 31, 2017 , 2016 , and 2015 , respectively. Additionally, the Company typically receives a nominal handling fee, which is recognized as earned in revenues in our consolidated statement of operations.
Use of Estimates	The preparation of financial statements in accordance with accounting policies generally accepted in the United States (U.S. GAAP) requires management to make estimates and assumptions that affect our reported amounts of assets and liabilities, our disclosure of contingent assets and liabilities at the date of the financial statements, and our revenues and expenses during the periods reported. Estimates are typically used when accounting for certain significant items such as legal or contractual liability accruals, mobilization and deferred mobilization, self-insured medical/dental plans, income taxes and valuation allowance, and other items requiring the use of estimates. Estimates are based on a number of variables which may include third party valuations, historical experience, where applicable, and assumptions that we believe are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ from management estimates.
Purchase Price Allocation	We allocate the purchase price of an acquired business to its identifiable assets and liabilities in accordance with the acquisition method based on estimated fair values at the transaction date. Transaction and integration costs associated with an acquisition are expensed as incurred. The excess of the purchase price over the amount allocated to the assets and liabilities, if any, is recorded as goodwill. We use all available information to estimate fair values, including quoted market prices, the carrying value of acquired assets, and widely accepted valuation techniques such as discounted cash flows. We typically engage third-party appraisal firms to assist in fair value determination of inventories, identifiable intangible assets, and any other significant assets or liabilities. Judgments made in determining the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact our results of operations.
Goodwill	We perform our annual goodwill impairment review during the fourth quarter, as of October 1, and more frequently if negative conditions or other triggering events arise. The quantitative impairment test we perform for goodwill utilizes certain assumptions, including forecasted revenues and costs assumptions.
Intangible Assets	Our intangible assets are related to trade names, customer relationships, and developed technology, which were acquired through acquisition and are classified as definite lived intangibles, that are generally amortized over a weighted average period of approximately three to six years. We assess the recoverability of the unamortized balance of our intangible assets when indicators of impairment are present based on expected future profitability and undiscounted expected cash flows and their contribution to our overall operations. Should the review indicate that the carrying value is not fully recoverable, the excess of the carrying value over the fair value of the intangible assets would be recognized as an impairment loss.
Cash and Cash Equivalents	For purposes of the consolidated balance sheets and the consolidated statements of cash flows, the Company considers cash equivalents to be highly liquid debt instruments that have a remaining maturity of three months or less at the date of purchase.
Accounts Receivable and Allowance for Bad Debt	Trade accounts receivable are recorded at the invoice amount and typically do not bear interest. The allowance for bad debt is estimated for losses that may occur resulting from disputed amounts and the inability of our customers to pay amounts owed. We estimate the allowance based on historical write-off experience and information about specific customers. We review individually, for collectability, all balances over 90 days past due as well as balances due from any customer with respect to which we have information leading us to believe that a risk exists for potential collection. Account balances are charged off against the allowance when we believe it is probable the receivable will not be recovered.
Property, Plant and Equipment	Property, plant and equipment is carried at cost. Maintenance and most repair costs are expensed as incurred. The cost of upgrades and replacements is capitalized. The Company capitalizes software developed or obtained for internal use. Accordingly, the cost of third-party software, as well as the cost of third-party and internal personnel that are directly involved in application development activities, are capitalized during the application development phase of new software systems projects. Costs during the preliminary project stage and post-implementation stage of new software systems projects, including data conversion and training costs, are expensed as incurred. We account for depreciation of property, plant and equipment on the straight line method over the estimated useful lives of the assets after provision for salvage value. Depreciation, for tax purposes, utilizes several methods of accelerated depreciation. Depreciable lives for different categories of property, plant and equipment are as follows: Land drilling equipment 3 to 20 years Barge drilling equipment 3 to 20 years Drill pipe, rental tools and other 4 to 15 years Buildings and improvements 5 to 30 years Leasehold improvements are depreciated over the shorter of their estimated useful lives or the term of the lease.
Impairment	We evaluate the carrying amounts of long-lived assets for potential impairment when events occur or circumstances change that indicate the carrying values of such assets may not be recoverable. We evaluate recoverability by determining the undiscounted estimated future net cash flows for the respective asset groups identified. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset group, we measure the impairment as the amount by which the assets’ carrying value exceeds the fair value of such assets. Management considers a number of factors such as estimated future cash flows from the assets, appraisals and current market value analysis in determining fair value. Assets are written down to fair value if the final estimate of current fair value is below the net carrying value. The assumptions used in the impairment evaluation are inherently uncertain and require management judgment.
Capitalized Interest	Interest from external borrowings is capitalized on major projects until the assets are ready for their intended use. Capitalized interest is added to the cost of the underlying asset and is amortized over the useful lives of the assets in the same manner as the underlying assets. Capitalized interest costs reduce net interest expense in the consolidated statements of operations.
Assets Held for Sale	We classify an asset as held for sale when the facts and circumstances meet the criteria for such classification, including the following: (a) we have committed to a plan to sell the asset, (b) the asset is available for immediate sale, (c) we have initiated actions to complete the sale, including locating a buyer, (d) the sale is expected to be completed within one year, (e) the asset is being actively marketed at a price that is reasonable relative to its fair value, and (f) the plan to sell is unlikely to be subject to significant changes or termination.
Rig Materials and Supplies	Because our international drilling generally occurs in remote locations, making timely outside delivery of spare parts uncertain, a complement of parts and supplies is maintained either at the drilling site or in warehouses close to the operation. During periods of high rig utilization, these parts are generally consumed and replenished within a one -year period. During a period of lower rig utilization in a particular location, the parts, like the related idle rigs, are generally not transferred to other international locations until new contracts are obtained because of the significant transportation costs that would result from such transfers. We classify those parts which are not expected to be utilized in the following year as long-term assets. Additionally, our international rental tools business holds machine shop consumables and steel stock for manufacture in our machine shops and inspection and repair shops, which are classified as current assets. Rig materials and supplies are valued at the lower of cost or market value.
Deferred Costs	We defer costs related to rig mobilization and amortize such costs over the primary term of the related contract. The costs to be amortized within twelve months are classified as current.
Debt Issuance Costs	We typically defer costs associated with issuance of indebtedness, and amortize those costs over the term of the related debt using the effective interest method.
Income Taxes	Income taxes are accounted for under the asset and liability method and have been provided for based upon tax laws and rates in effect in the countries in which operations are conducted and income or losses are generated. There is little or no expected relationship between the provision for or benefit from income taxes and income or loss before income taxes as the countries in which we operate have taxation regimes that vary not only with respect to nominal rate, but also in terms of the availability of deductions, credits, and other benefits. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the temporary differences are expected to be recovered or settled and the effect of changes in tax rates is recognized in income in the period in which the change is enacted. Valuation allowances are established to reduce deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized. In order to determine the amount of deferred tax assets or liabilities, as well as the valuation allowances, we must make estimates and assumptions regarding future taxable income, where rigs will be deployed and other matters. Changes in these estimates and assumptions, including changes in tax laws and other changes impacting our ability to recognize the underlying deferred tax assets, could require us to adjust the valuation allowances. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized and changes in recognition or measurement are reflected in the period in which the change in judgment occurs.
Earnings (Loss) Per Share (EPS)	Basic earnings (loss) per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. The effects of dilutive securities, stock options, unvested restricted stock and convertible debt are included in the diluted EPS calculation, when applicable.
Concentrations of Credit Risk	Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of trade receivables with a variety of national and international oil and natural gas companies. We generally do not require collateral on our trade receivables. We depend on a limited number of significant customers.
Fair Value Measurements	For purposes of recording fair value adjustments for certain financial and non-financial assets and liabilities, and determining fair value disclosures, we estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. Our valuation technique requires inputs that we categorize using a three-level hierarchy, from highest to lowest level of observable inputs, as follows: (1) unadjusted quoted prices for identical assets or liabilities in active markets (Level 1), (2) direct or indirect observable inputs, including quoted prices or other market data, for similar assets or liabilities in active markets or identical assets or liabilities in less active markets (Level 2) and (3) unobservable inputs that require significant judgment for which there is little or no market data (Level 3). When multiple input levels are required for a valuation, we categorize the entire fair value measurement according to the lowest level of input that is significant to the measurement even though we may have also utilized significant inputs that are more readily observable.
Foreign Currency	In our international rental tool business, for certain subsidiaries and branches outside the U.S., the local currency is the functional currency. The financial statements of these subsidiaries and branches are translated into U.S. dollars as follows: (i) assets and liabilities at month-end exchange rates; (ii) income, expenses and cash flows at monthly average exchange rates or exchange rates in effect on the date of the transaction; and (iii) stockholders’ equity at historical exchange rates. For those subsidiaries where the local currency is the functional currency, the resulting translation adjustment is recorded as a component of accumulated other elements of comprehensive income (loss) in the accompanying consolidated balance sheets.
Stock-Based Compensation	Under our long term incentive plan, we are authorized to issue the following: stock options; stock appreciation rights; restricted stock awards; restricted stock units; performance-based awards; and other types of awards in cash or stock to key employees, consultants, and directors. We typically grant restricted stock units (“RSUs”), performance cash units (“PCUs”), performance-based phantom stock units and time-based phantom stock units. Stock-based compensation expense is recognized, net of an estimated forfeiture rate, which is based on historical experience and adjusted, if necessary, in subsequent periods based on actual forfeitures. We recognize stock-based compensation expense in the same financial statement line item as cash compensation paid to the respective employees. Tax deduction benefits for awards in excess of recognized compensation costs are reported as an operating cash flow.
Legal and Investigation Matters	We accrue estimates of the probable and estimable costs for the resolution of certain legal and investigation matters. We do not accrue any amounts for other matters for which the liability is not probable and reasonably estimable. Generally, the estimate of probable costs related to these matters is developed in consultation with our legal advisors. The estimates take into consideration factors such as the complexity of the issues, litigation risks and settlement costs. If the actual settlement costs, final judgments, or fines, after appeals, differ from our estimates, our future financial results may be adversely affected.
Recent Accounting Pronouncements	In January 2017, the FASB issued Accounting Standards Update (ASU) No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The standard simplifies the subsequent measurement of goodwill by eliminating the second step of the goodwill impairment test. This standard is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. Effective January 1, 2017, we adopted ASU 2017-04 and it did not have a material impact on our consolidated statements of financial position, results of operations, cash flows, and on the disclosures contained in our notes to the consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory. The ASU requires entities to recognize at the transaction date the income tax consequences of intercompany asset transfers other than inventory. The standard becomes effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, but only at the beginning of the annual period for which no financial statements have been issued or been made available for issuance. Effective January 1, 2017, we adopted ASU 2016-16 prospectively and it did not have a material impact on our consolidated statements of financial position, results of operations and cash flows. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The ASU is intended to reduce diversity in current practice regarding the manner in which certain cash receipts and cash payments are presented and classified in the cash flow statement. The standard becomes effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. Effective January 1, 2017, we adopted ASU 2016-15 retrospectively and it did not have a material impact on our statement of cash flows. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718). The objective of this update is to simplify several aspects of accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard became effective for public companies for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Effective January 1, 2017, we adopted ASU 2016-09. The adoption did not have a material impact on our consolidated statements of financial position, results of operations or cash flows. In accordance with the ASU requirements, we adopted certain aspects of the ASU as follows: • Accounting for excess tax benefits and certain tax deficiencies - The guidance requires all excess tax benefits, and certain tax deficiencies to be recorded through the income statement instead of additional paid in capital, where the activity was historically recorded. We adopted this change prospectively. There is no cumulative effect of the adoption as we have no unrecognized excess tax benefits or minimum withholding requirements that impact the income statement and, accordingly, prior periods have not been adjusted. • Cash flow presentation of excess tax benefits and certain tax deficiencies - We adopted this change retrospectively. Tax related cash flows from share based payments are to be presented as operating activities in the statement of cash flows. Consequently, activity for the year ended December 31, 2016 and 2015, recorded through equity, has been reclassified from financing activities to operating activities in the statement of cash flows. The impact of such reclassification was no minal for 2016. For the year ended December 31, 2015, we have reclassified $1.0 million from operating activities to financing activities. • Accounting for forfeitures - We have made an entity-wide accounting policy election to continue to estimate forfeitures and adjust the estimate when it is likely to change. This election does not change our current policy and, accordingly, there is no impact on our consolidated statements of financial position, results of operations or cash flows. • Cash paid to a tax authority when shares are withheld to satisfy the employer’s statutory income tax withholding obligation - We adopted this change retrospectively. The activity is now required to be presented as financing activities in the statement of cash flows. For the year ended December 31, 2016 and 2015, we have reclassified $1.2 million and $1.0 million , respectively, from operating activities to financing activities. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This accounting standards update requires (a) an entity to separate the lease components from the non-lease components in a contract where the lease component will be accounted for under ASU 2016-02 and the non-lease component will be accounted for under ASU 2014-09, (b) recognition of lease assets and lease liabilities by lessees and derecognition of the leased asset and recognition of a net investment in the lease by the lessor and (c) additional disclosure requirements for both lessees and lessors. The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, although early adoption is permitted. Upon adoption, a retrospective approach is required for leases that exist, or are entered into, after the beginning of the earliest comparative period presented. Under the updated accounting standard, we have determined that our drilling contracts may contain a lease component; therefore, our adoption of the standard could require that we separately recognize revenues associated with the lease and service components. We will adopt ASU 2016-02 on January 1, 2019, and we expect to apply the modified retrospective approach. Our adoption, and the ultimate effect on our consolidated financial statements, will be based on an evaluation of the contract-specific facts and circumstances, and such effect could introduce variability to the timing of our revenue recognition relative to current accounting standards. We are evaluating the requirements to determine the effect such requirements may have on our consolidated statements of financial position, results of operations, cash flows and on the disclosures contained in our notes to the consolidated financial statements upon the adoption of ASU 2016-02. Depending on the results of the evaluation our ultimate conclusions may vary. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) which is effective for annual reporting periods that begin after December 15, 2017. This ASU supersedes the revenue recognition requirements in ASC 605 - Revenue Recognition and most industry-specific guidance throughout the Codification and provides a five step analysis for transactions to determine how and when revenue is recognized. The standard requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services and should be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the ASU recognized at the date of initial application. Effective January 1, 2018, we adopted ASU 2014-09 using the modified retrospective approach, in which we will record the cumulative effect of applying the new standard to all outstanding contracts as of January 1, 2018, as an adjustment to opening retained earnings. In applying the new standard, we plan to account for the integrated services provided within our drilling, O&M and rentals contracts as a single performance obligation composed of a series of distinct time increments, which will be satisfied over time. We will determine the total transaction price for each individual contract by estimating both fixed and variable consideration expected to be earned over the term of the contract. Consideration that does not relate to a distinct good or service, such as mobilization and contract preparation revenue, will be allocated across the single performance obligation and recognized ratably over the term of the contract. All other components of consideration within a contract, including the dayrate revenue, will continue to be recognized in the period when the services are performed. We do not anticipate the adoption of the new standard to have a material impact on our consolidated statements of financial position, results of operations and cash flows. Expanded revenue disclosures are expected in our notes to the consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40). The objective of this update is to provide guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and provide footnote disclosures. The amendments in this update become effective for public companies for the annual period after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. Effective January 1, 2017, we adopted ASU 2014-15 prospectively and it did not have a material impact on our consolidated statements of financial position, results of operations, cash flows, and on the disclosures contained in our notes to the consolidated financial statements.

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Total Accounts and Notes Receivable	The components of our accounts receivable, net of allowance for bad debt balance are as follows: December 31, Dollars in thousands 2017 2016 Trade $ 130,075 $ 121,490 Allowance for bad debt (1) (7,564 ) (8,259 ) Total accounts and notes receivable, net of allowance for bad debt $ 122,511 $ 113,231 (1) Additional information on the allowance for bad debt for the years ended December 31, 2017 , 2016 and 2015 is reported on Schedule II — Valuation and Qualifying Accounts.
Summary of Depreciable Lives for Different Categories of Property Plant and Equipment	Depreciable lives for different categories of property, plant and equipment are as follows: Land drilling equipment 3 to 20 years Barge drilling equipment 3 to 20 years Drill pipe, rental tools and other 4 to 15 years Buildings and improvements 5 to 30 years

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in the carrying amount of goodwill for the year ended December 31, 2017 is as follows: Dollars in thousands Goodwill Balance at December 31, 2016 $ 6,708 Additions — Balance at December 31, 2017 $ 6,708
Schedule of Intangible Assets	Intangible Assets consist of the following: Balance at December 31, 2017 Dollars in thousands Estimated Useful Life (Years) Gross Carrying Amount Write-off Due to Sale (1) Accumulated Amortization Net Carrying Amount Amortized intangible assets: Developed Technology 6 $ 11,630 $ — $ (5,330 ) $ 6,300 Customer Relationships 3 5,400 (264 ) (5,136 ) — Trade Names 5 4,940 (332 ) (3,780 ) 828 Total Amortized intangible assets $ 21,970 $ (596 ) $ (14,246 ) $ 7,128 (1) During the 2015 fourth quarter, we sold our controlling interest in a joint venture in Egypt resulting in the write-off of $0.6 million of intangible assets related to customer relationships and trade name.
Schedule of Intangibles Amortization Expense for the Next Five Years	Our remaining intangibles amortization expense for the next five years is presented below: Dollars in thousands Expected future intangible amortization expense 2018 $ 2,306 2019 $ 2,306 2020 $ 2,030 2021 $ 486 Beyond 2021 $ —

Accumulated Other Comprehensi30

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	Accumulated other comprehensive income consisted of the following: Dollars in thousands Foreign Currency Items December 31, 2016 $ (6,844 ) Current period other comprehensive income 3,332 December 31, 2017 $ (3,512 )

Property Plant and Equipment (T

Property Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	The components of our property, plant and equipment balance are as follows: December 31, Dollars in Thousands 2017 2016 Property, Plant and Equipment, at cost: Drilling Equipment $ 1,228,443 $ 1,306,641 Rental Tools 552,461 516,144 Building, Land and Improvements 60,309 54,799 Other 115,910 111,142 Construction in Progress 11,753 25,357 Total Property, Plant and Equipment, at cost 1,968,876 2,014,083 Less: Accumulated Depreciation and Amortization 1,343,105 1,320,644 Property, Plant, and Equipment, Net $ 625,771 $ 693,439

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Summary of Income (Loss) Before Income Taxes	Income (loss) before income taxes is summarized below: Year Ended December 31, Dollars in thousands 2017 2016 2015 United States $ (89,233 ) $ (131,106 ) $ (77,368 ) Foreign (20,428 ) (25,538 ) 5,397 $ (109,661 ) $ (156,644 ) $ (71,971 )
Summary of Income Tax Expense (Benefit)	Income tax expense (benefit) is summarized as follows: Year Ended December 31, Dollars in thousands 2017 2016 2015 Current: United States: Federal $ 80 $ (1,921 ) $ 2,485 State 54 (9 ) 365 Foreign 9,130 7,038 16,754 Deferred: United States: Federal 167 64,066 (141 ) State — (47 ) (4,769 ) Foreign (391 ) 5,043 7,619 $ 9,040 $ 74,170 $ 22,313
Schedule of Income Tax Reconciliation from Federal Income Tax Statutory Rate	Total income tax expense differs from the amount computed by multiplying income before income taxes by the U.S. federal income tax statutory rate. The reasons for this difference are as follows: Year Ended December 31, 2017 2016 2015 Dollars in thousands Amount % of Pre-Tax Income Amount % of Pre-Tax Income Amount % of Pre-Tax Income Computed expected tax expense $ (38,381 ) 35.0 % $ (54,825 ) 35.0 % $ (25,190 ) 35.0 % Foreign taxes 13,084 (11.9 )% 12,688 (8.1 )% 16,043 (22.3 )% Tax effect different from statutory rates (2,048 ) 1.9 % (3,629 ) 2.3 % (2,729 ) 3.8 % State taxes, net of federal benefit 35 — % (849 ) 0.5 % (4,544 ) 6.3 % Foreign tax credits 3 — % 20 — % (5,566 ) 7.7 % Change in valuation allowance (excluding impact of Tax Act) 30,704 (28.0 )% 117,707 (75.1 )% 40,676 (56.5 )% Uncertain tax positions 194 (0.2 )% (726 ) 0.5 % (81 ) 0.1 % Permanent differences 2,970 (2.7 )% 1,442 (0.9 )% 1,696 (2.4 )% Prior year return to provision adjustments 2,442 (2.3 )% 2,078 (1.3 )% 1,555 (2.1 )% Other 37 — % 264 (0.2 )% 453 (0.6 )% Impact of Tax Act Effect of tax rate reduction on deferred tax 45,329 (41.3 )% — — % — — % Effect of tax rate on deferred tax valuation (45,329 ) 41.3 % — — % — — % Actual Tax Expense $ 9,040 (8.2 )% $ 74,170 (47.3 )% $ 22,313 (31.0 )%
Components of Deferred Tax Assets and Liabilities	The components of the Company’s deferred tax assets and liabilities as of December 31, 2017 and 2016 are shown below: December 31, Dollars in thousands 2017 2016 Deferred tax assets Deferred tax assets: Federal net operating loss carryforwards 95,867 120,986 State net operating loss carryforwards 11,089 7,168 Other state deferred tax asset, net 1,592 2,646 Foreign Tax Credits 46,913 46,859 FIN 48 953 883 Foreign tax 36,699 29,791 Asset Impairment 8,161 27,165 Accruals not currently deductible for tax purposes 2,926 1,657 Deferred compensation 1,204 3,424 Other 74 863 Gross long-term deferred tax assets 205,478 241,442 Valuation Allowance (157,914 ) (171,133 ) Net deferred tax assets, net of valuation allowance 47,564 70,309 Deferred tax liabilities: Deferred tax liabilities: Property, Plant and equipment (38,809 ) (64,256 ) Foreign tax local (78 ) 490 Other state deferred tax liability, net (6,140 ) (5,567 ) Intangibles (1,331 ) — Gross deferred tax liabilities (46,358 ) (69,333 ) Net deferred tax asset $ 1,206 $ 976
Reconciliation of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Dollars in thousands Balance at January 1, 2016 $ (4,628 ) Reductions based on tax positions taken during a prior period 3 Additions based on tax positions taken during the current period (770 ) Balance at December 31, 2017 $ (5,395 )
Open Tax Years by Major Tax Jurisdiction	The following describes the open tax years, by major tax jurisdiction, as of December 31, 2017 : Kazakhstan 2008-present Mexico 2012-present Russia 2014-present United States — Federal 2009-present United Kingdom 2014-present

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Summary of Company's Current Debt Portfolio	The following table illustrates the Company’s current debt portfolio as of December 31, 2017 and December 31, 2016 : December 31, Dollars in thousands 2017 2016 6.75% Senior Notes, due July 2022 $ 360,000 $ 360,000 7.50% Senior Notes, due August 2020 225,000 225,000 Total principal 585,000 585,000 Less: unamortized debt issuance costs (7,029 ) (8,674 ) Total long-term debt $ 577,971 $ 576,326

Fair Value of Financial Instr34

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Values and Related Carrying Values of Debt Instruments	Fair value of our debt instruments is determined using Level 2 inputs. Fair values and related carrying values of our debt instruments were as follows for the periods indicated: December 31, 2017 December 31, 2016 Dollars in thousands Carrying Amount Fair Value Carrying Amount Fair Value Long-term Debt 6.75% Notes $ 360,000 $ 296,100 $ 360,000 $ 311,400 7.50% Notes 225,000 206,438 225,000 201,375 Total $ 585,000 $ 502,538 $ 585,000 $ 512,775

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Summary of Long-Term Incentive Plans	The following table presents RSUs granted, vested and forfeited during 2017 under the Stock Plan: Units Weighted Average Grant-Date Fair Value Nonvested at January 1, 2017 5,333,522 $ 2.85 Granted 2,711,546 $ 1.42 Vested (2,512,552 ) $ 3.41 Forfeited (998,338 ) $ 2.29 Nonvested at December 31, 2017 4,534,178 $ 1.81
Schedule of Share-based Compensation, Time-based Phantom Stock Units Activity	The following table presents time-based phantom stock units granted, vested, and forfeited during 2017 under the Stock Plan: Time-Based Phantom Stock Units Nonvested at January 1, 2017 985,938 Granted 648,755 Vested (299,796 ) Forfeited (216,793 ) Nonvested at December 31, 2017 1,118,104
Schedule of Nonvested Performance-based Units Activity	The following table presents PCUs granted, vested, and forfeited during 2017 under the Stock Plan: PCUs Nonvested at January 1, 2017 26,352 Granted 14,153 Vested (11,022 ) Forfeited (6,462 ) Nonvested at December 31, 2017 23,021
Share-Based Compensation, Performance-Based Stock Units Activity	The following table presents performance-based phantom stock units granted, vested, and forfeited during 2017 under the Stock Plan: Performance-Based Phantom Stock Units Nonvested at January 1, 2017 1,315,228 Granted 660,370 Vested (348,962 ) Forfeited (315,579 ) Nonvested at December 31, 2017 1,311,057

Earnings (Loss) Per Share (EP36

Earnings (Loss) Per Share (EPS) (Tables)	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Summary of Reconciliation of Income and Number of Shares Used to Calculate Basic and Diluted Earnings per Share (EPS)	The following table represents the computation of earnings per share for the twelve months ended December 31, 2017 and 2016 , respectively: For the Year Ended December 31, 2017 Net Income (Loss) Available to Common Stockholders (Numerator) Shares (Denominator) Per-Share Amount Basic earnings (loss) per common share $ (121,752,000 ) 136,266,843 $ (0.89 ) Effect of dilutive securities: Restricted stock units (1) — $ — Mandatory convertible preferred stock (2) Diluted earnings (loss) per common share $ (121,752,000 ) 136,266,843 $ (0.89 ) For the Year Ended December 31, 2016 Net Income (Loss) Available to Common Stockholders (Numerator) Shares (Denominator) Per-Share Amount Basic earnings (loss) per common share $ (230,814,000 ) 124,130,004 $ (1.86 ) Effect of dilutive securities: Restricted stock units (1) — $ — Diluted earnings (loss) per common share $ (230,814,000 ) 124,130,004 $ (1.86 ) For the Year Ended December 31, 2015 Net Income (Loss) Available to Common Stockholders (Numerator) Shares (Denominator) Per-Share Amount Basic earnings (loss) per common share $ (95,073,000 ) 122,562,187 $ (0.78 ) Effect of dilutive securities: Restricted stock units (1) — $ — Diluted earnings (loss) per common share $ (95,073,000 ) 122,562,187 $ (0.78 ) (1) For each of the years ended December 31, 2017 , 2016 , and 2015 , all common shares potentially issuable in connection with outstanding restricted stock unit awards have been excluded from the calculation of diluted EPS as the Company incurred losses during the periods, therefore, inclusion of such potential common shares would be anti-dilutive. (2) Weighted average common shares issuable upon the assumed conversion of our Convertible Preferred Stock (as defined below) totaling 23,809,500 shares were excluded from the computation of diluted EPS as such shares would be anti-dilutive.

Reportable Segments (Tables)

Reportable Segments (Tables)	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Results of Operations by Reportable Segment	The following table represents the results of operations by reportable segment: Year Ended December 31, Dollars in thousands 2017 2016 2015 Revenues: (1) Drilling Services: U.S. (Lower 48) Drilling $ 12,389 $ 5,429 $ 30,358 International & Alaska Drilling 247,254 287,332 435,096 Total Drilling Services 259,643 292,761 465,454 Rental Tools Services: U.S. Rental Tools 121,937 71,613 141,889 International Rental Tools 60,940 62,630 104,840 Total Rental Tools Services 182,877 134,243 246,729 Total revenues 442,520 427,004 712,183 Operating gross margin: (2) Drilling Services: U.S. (Lower 48) Drilling (20,656 ) (34,353 ) (28,309 ) International & Alaska Drilling (6,248 ) 9,272 45,211 Total Drilling Services (26,904 ) (25,081 ) 16,902 Rental Tools Services: U.S. Rental Tools 15,651 (22,372 ) 17,380 International Rental Tools (24,087 ) (27,859 ) (4,583 ) Total Rental Tools Services (8,436 ) (50,231 ) 12,797 Total operating gross margin (35,340 ) (75,312 ) 29,699 General and administrative expense (25,676 ) (34,332 ) (36,190 ) Provision for reduction in carrying value of certain assets (1,938 ) — (12,490 ) Gain (loss) on disposition of assets, net (2,851 ) (1,613 ) 1,643 Total operating income (loss) (65,805 ) (111,257 ) (17,338 ) Interest expense (44,226 ) (45,812 ) (45,155 ) Interest income 244 58 269 Other income (loss) 126 367 (9,747 ) Income (loss) from continuing operations before income taxes $ (109,661 ) $ (156,644 ) $ (71,971 ) (1) For the years ended December 31, 2017 , 2016 , and 2015 , our largest customer, ENL , constituted approximately 31.3 percent , 38.7 percent , and 27.9 percent , respectively, of our total consolidated revenues and approximately 55.9 percent , 57.5 percent , and 45.6 percent , respectively, of our International & Alaska Drilling segment revenues. Excluding reimbursable revenues of $50.8 million , $67.0 million , and $75.8 million , ENL constituted approximately 22.7 percent , 27.5 percent , and 19.7 percent , respectively, of our total consolidated revenues and approximately 46.1 percent , 45.0 percent , and 35.3 percent , respectively of our International & Alaska Drilling segment revenues. For the year ended December 31, 2017 , our second largest customer, BP, constituted 9.7 percent , of our total consolidated revenues and approximately 17.4 percent of our International & Alaska Drilling segment revenues. (2) Operating gross margin is calculated as revenues less direct operating expenses, including depreciation and amortization expense. The following table represents capital expenditures and depreciation and amortization by reportable segment: Year Ended December 31, Dollars in thousands 2017 2016 2015 Capital expenditures: U.S. (Lower 48) Drilling $ 230 $ 264 $ 2,731 International & Alaska Drilling 3,673 5,258 13,458 U.S. Rental Tools 39,948 10,848 47,673 International Rental Tools 8,584 9,725 19,516 Corporate 2,098 2,859 4,819 Total capital expenditures $ 54,533 $ 28,954 $ 88,197 Depreciation and amortization: (1) U.S. (Lower 48) Drilling $ 13,521 $ 20,049 $ 22,420 International & Alaska Drilling 46,950 55,236 64,539 U.S. Rental Tools 43,489 43,769 47,453 International Rental Tools 18,413 20,741 21,782 Total depreciation and amortization $ 122,373 $ 139,795 $ 156,194 (1) For presentation purposes, for the years then ended December 31, 2017 , 2016 and 2015 depreciation for corporate assets of $8.7 million , $8.3 million , and $7.5 million , respectively, has been allocated to the corresponding reportable segments. The following table represents identifiable assets by reportable segment: Year Ended December 31, Dollars in Thousands 2017 2016 Identifiable assets: U.S. (Lower 48) Drilling $ 62,980 $ 77,628 International & Alaska Drilling 421,753 591,120 U.S. Rental Tools 198,664 126,289 International Rental Tools 168,511 170,431 Total identifiable assets 851,908 965,468 Corporate 138,371 138,083 Total assets $ 990,279 $ 1,103,551
Operations by Geographical Area	The following table represents selected geographic information : Year Ended December 31, Dollars in Thousands 2017 2016 2015 Revenues by geographic area: Russia $ 139,144 $ 142,538 $ 165,193 Other CIS 23,768 33,659 61,145 EMEA & Asia 64,572 79,870 148,015 Latin America 11,594 12,952 69,989 United States 177,630 127,596 231,779 Other (1) 25,812 30,389 36,062 Total revenues $ 442,520 $ 427,004 $ 712,183 Long-lived assets by geographic area: (2) Russia $ 19,415 $ 21,395 Other CIS 29,402 35,914 EMEA & Asia 108,621 116,857 Latin America 38,959 48,528 United States 429,374 470,745 Other (1) — — Total long-lived assets $ 625,771 $ 693,439 (1) This category includes our Canada O&M operations and our project services activities. Revenues generated by our project service activities benefit our various geographic locations. (2) Long-lived assets consist of property, plant and equipment, net.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments Under Operating Leases with Non Cancelable Terms	Future minimum lease payments as of December 31, 2017 , under operating leases with non-cancelable terms are as follows: Dollars in Thousands Year Ended 2018 $ 6,867 2019 4,742 2020 3,009 2021 1,409 2022 902 Thereafter 1,413 Total $ 18,342

Supplementary Information (Tabl

Supplementary Information (Tables)	12 Months Ended
	Dec. 31, 2017
Additional Financial Information Disclosure [Abstract]
Schedule of Accrued Liabilities	The significant components of “Accrued liabilities” on our consolidated balance sheets as of December 31, 2017 and 2016 are presented below: Year Ended December 31, Dollars in Thousands 2017 2016 Accrued liabilities: Accrued Payroll & Related Benefits $ 27,252 $ 20,714 Accrued Interest Expense 18,169 18,169 Accrued Professional Fees & Other 7,888 13,039 Deferred Mobilization Fees 3,149 2,681 Workers’ Compensation Liabilities, net 1,265 1,583 Total accrued liabilities $ 57,723 $ 56,186

Parent, Guarantor, Non-Guaran40

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidating Condensed Statement of Operations	PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 168,490 $ 355,044 $ (81,014 ) $ 442,520 Operating expenses — 94,546 341,955 (81,014 ) 355,487 Depreciation and amortization — 81,260 41,113 — 122,373 Total operating gross margin (loss) — (7,316 ) (28,024 ) — (35,340 ) General and administration expense (1) (323 ) (24,887 ) (466 ) — (25,676 ) Provision for reduction in carrying value of certain assets — — (1,938 ) — (1,938 ) Gain (loss) on disposition of assets, net — (247 ) (2,604 ) — (2,851 ) Total operating income (loss) (323 ) (32,450 ) (33,032 ) — (65,805 ) Other income (expense): Interest expense (47,135 ) (220 ) (7,906 ) 11,035 (44,226 ) Interest income 831 744 9,704 (11,035 ) 244 Other — 71 55 — 126 Equity in net earnings of subsidiaries (40,752 ) — — 40,752 — Total other income (expense) (87,056 ) 595 1,853 40,752 (43,856 ) Income (loss) before income taxes (87,379 ) (31,855 ) (31,179 ) 40,752 (109,661 ) Income tax expense (benefit): Current tax expense (benefit) 26,537 (22,494 ) 5,221 — 9,264 Deferred tax expense (benefit) 4,785 (7,750 ) 2,741 — (224 ) Total income tax expense (benefit) 31,322 (30,244 ) 7,962 — 9,040 Net income (loss) (118,701 ) (1,611 ) (39,141 ) 40,752 (118,701 ) Less: Net income attributable to noncontrolling interest — — — — — Net income (loss) attributable to controlling interest $ (118,701 ) $ (1,611 ) $ (39,141 ) $ 40,752 $ (118,701 ) Less: Mandatory convertible preferred stock dividend $ 3,051 $ — $ — $ — $ 3,051 Net income (loss) available to common stockholders $ (121,752 ) $ (1,611 ) $ (39,141 ) $ 40,752 $ (121,752 ) (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 152,263 $ 380,931 $ (106,190 ) $ 427,004 Operating expenses — 103,013 365,698 (106,190 ) 362,521 Depreciation and amortization — 90,218 49,577 — 139,795 Total operating gross margin (loss) — (40,968 ) (34,344 ) — (75,312 ) General and administration expense (1) (410 ) (29,355 ) (4,567 ) — (34,332 ) Provision for reduction in carrying value of certain assets — — — — — Gain (loss) on disposition of assets, net — (565 ) (1,048 ) — (1,613 ) Total operating income (loss) (410 ) (70,888 ) (39,959 ) — (111,257 ) Other income (expense): Interest expense (48,160 ) (642 ) (6,434 ) 9,424 (45,812 ) Interest income 758 695 8,029 (9,424 ) 58 Other — 484 (117 ) — 367 Equity in net earnings of subsidiaries (94,469 ) — — 94,469 — Total other income (expense) (141,871 ) 537 1,478 94,469 (45,387 ) Income (loss) before income taxes (142,281 ) (70,351 ) (38,481 ) 94,469 (156,644 ) Income tax expense (benefit): Current tax expense (benefit) 40,562 (35,572 ) 118 — 5,108 Deferred tax expense (benefit) 47,971 14,846 6,245 — 69,062 Total income tax expense (benefit) 88,533 (20,726 ) 6,363 — 74,170 Net income (loss) (230,814 ) (49,625 ) (44,844 ) 94,469 (230,814 ) Less: Net income attributable to noncontrolling interest — — — — — Net income (loss) attributable to controlling interest $ (230,814 ) $ (49,625 ) $ (44,844 ) $ 94,469 $ (230,814 ) Less: Mandatory convertible preferred stock dividend $ — $ — $ — $ — $ — Net income (loss) available to common stockholders $ (230,814 ) $ (49,625 ) $ (44,844 ) $ 94,469 $ (230,814 ) (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 254,182 $ 584,204 $ (126,203 ) $ 712,183 Operating expenses — 143,563 508,930 (126,203 ) 526,290 Depreciation and amortization — 95,071 61,123 — 156,194 Total operating gross margin (loss) — 15,548 14,151 — 29,699 General and administration expense (1) (1,279 ) (38,643 ) 3,732 — (36,190 ) Provision for reduction in carrying value of certain assets — (2,088 ) (10,402 ) — (12,490 ) Gain (loss) on disposition of assets, net — 439 1,204 — 1,643 Total operating income (loss) (1,279 ) (24,744 ) 8,685 — (17,338 ) Other income (expense): Interest expense (47,659 ) (1,035 ) (11,579 ) 15,118 (45,155 ) Interest income 1,424 852 13,111 (15,118 ) 269 Loss on extinguishment of debt — — — — — Other — (200 ) (9,547 ) — (9,747 ) Equity in net earnings of subsidiaries (36,631 ) — — 36,631 — Total other income (expense) (82,866 ) (383 ) (8,015 ) 36,631 (54,633 ) Income (loss) before income taxes (84,145 ) (25,127 ) 670 36,631 (71,971 ) Income tax expense (benefit): Current tax expense (benefit) 29,643 (22,970 ) 12,931 — 19,604 Deferred tax expense (benefit) (18,715 ) 11,718 9,706 — 2,709 Total income tax expense (benefit) 10,928 (11,252 ) 22,637 — 22,313 Net income (loss) (95,073 ) (13,875 ) (21,967 ) 36,631 (94,284 ) Less: Net income attributable to noncontrolling interest — — 789 — 789 Net income (loss) attributable to controlling interest $ (95,073 ) $ (13,875 ) $ (22,756 ) $ 36,631 $ (95,073 ) Less: Mandatory convertible preferred stock dividend $ — $ — $ — $ — $ — Net income (loss) available to common stockholders $ (95,073 ) $ (13,875 ) $ (22,756 ) $ 36,631 $ (95,073 ) (1) General and administration expenses for field operations are included in operating expenses.
Consolidating Condensed Statement of Comprehensive Income (Loss)	PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year Ended December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income (loss): Net income (loss) $ (118,701 ) $ (1,611 ) $ (39,141 ) $ 40,752 $ (118,701 ) Other comprehensive gain (loss), net of tax: Currency translation difference on related borrowings — — 643 — $ 643 Currency translation difference on foreign currency net investments — — 2,689 — $ 2,689 Total other comprehensive gain (loss), net of tax: — — 3,332 — 3,332 Comprehensive income (loss) attributable to controlling interest $ (118,701 ) $ (1,611 ) $ (35,809 ) $ 40,752 $ (115,369 ) PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year Ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income (loss): Net income (loss) $ (230,814 ) $ (49,625 ) $ (44,844 ) $ 94,469 $ (230,814 ) Other comprehensive gain (loss), net of tax: Currency translation difference on related borrowings — — (691 ) — (691 ) Currency translation difference on foreign currency net investments — — (4,265 ) — (4,265 ) Total other comprehensive gain (loss), net of tax: — — (4,956 ) — (4,956 ) Comprehensive income (loss) attributable to controlling interest $ (230,814 ) $ (49,625 ) $ (49,800 ) $ 94,469 $ (235,770 ) PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ (95,073 ) $ (13,875 ) $ (21,967 ) $ 36,631 $ (94,284 ) Other comprehensive gain (loss), net of tax: Currency translation difference on related borrowings — — (2,012 ) — (2,012 ) Currency translation difference on foreign currency net investments — — 405 — 405 Total other comprehensive gain (loss), net of tax: — — (1,607 ) — (1,607 ) Comprehensive income (loss) (95,073 ) (13,875 ) (23,574 ) 36,631 (95,891 ) Comprehensive (income) loss attributable to noncontrolling interest — — 4,606 — 4,606 Comprehensive income (loss) attributable to controlling interest $ (95,073 ) $ (13,875 ) $ (18,968 ) $ 36,631 $ (91,285 )
Consolidating Condensed Balance Sheet	PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 75,342 $ 20,655 $ 45,552 $ — $ 141,549 Accounts and notes receivable, net — 32,338 90,173 — 122,511 Rig materials and supplies — (3,025 ) 34,440 — 31,415 Deferred costs — 17 3,128 — 3,145 Other tax assets — — 4,889 — 4,889 Other current assets — 6,345 7,982 — 14,327 Total current assets 75,342 56,330 186,164 — 317,836 Property, plant and equipment, net (19 ) 428,556 197,234 — 625,771 Goodwill — 6,708 — — 6,708 Intangible assets, net — 7,128 — — 7,128 Investment in subsidiaries and intercompany advances 2,955,050 2,971,456 3,955,553 (9,882,059 ) — Other noncurrent assets (261,232 ) 237,755 537,124 (480,811 ) 32,836 Total assets $ 2,769,141 $ 3,707,933 $ 4,876,075 $ (10,362,870 ) $ 990,279 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities (51,060 ) 179,247 588,536 (617,477 ) 99,246 Accrued income taxes 76,883 (56,870 ) (15,583 ) — 4,430 Total current liabilities 25,823 122,377 572,953 (617,477 ) 103,676 Long-term debt, net 577,971 — — — 577,971 Other long-term liabilities 2,867 5,741 3,825 — 12,433 Deferred tax liability (1 ) — 79 — 78 Intercompany payable 1,865,810 1,465,744 2,430,340 (5,761,894 ) — Total liabilities 2,472,470 1,593,862 3,007,197 (6,379,371 ) 694,158 Total equity 296,671 2,114,071 1,868,878 (3,983,499 ) 296,121 Total liabilities and stockholders’ equity $ 2,769,141 $ 3,707,933 $ 4,876,075 $ (10,362,870 ) $ 990,279 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 65,000 $ 14,365 $ 40,326 $ — $ 119,691 Accounts and notes receivable, net — 15,749 97,482 — 113,231 Rig materials and supplies — (5,369 ) 37,723 — 32,354 Deferred costs — 16 1,420 — 1,436 Other tax assets (50,296 ) 35,733 21,038 — 6,475 Other current assets — 5,555 7,576 — 13,131 Total current assets 14,704 66,049 205,565 — 286,318 Property, plant and equipment, net (19 ) 469,927 223,531 — 693,439 Goodwill — 6,708 — — 6,708 Intangible assets, net — 9,434 494 — 9,928 Investment in subsidiaries and intercompany advances 2,979,413 2,932,375 3,676,402 (9,588,190 ) — Other noncurrent assets (253,679 ) 301,771 539,877 (480,811 ) 107,158 Total assets $ 2,740,419 $ 3,786,264 $ 4,645,869 $ (10,069,001 ) $ 1,103,551 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities (10,080 ) 149,210 577,188 (617,477 ) 98,841 Accrued income taxes — 1,576 2,504 — 4,080 Total current liabilities (10,080 ) 150,786 579,692 (617,477 ) 102,921 Long-term debt, net 576,326 — — — 576,326 Other long-term liabilities 2,867 9,338 3,631 — 15,836 Deferred tax liability (28 ) 73,039 (3,678 ) — 69,333 Intercompany payables 1,828,317 1,437,417 2,161,864 (5,427,598 ) — Total liabilities 2,397,402 1,670,580 2,741,509 (6,045,075 ) 764,416 Total equity 343,017 2,115,684 1,904,360 (4,023,926 ) 339,135 Total liabilities and stockholders’ equity $ 2,740,419 $ 3,786,264 $ 4,645,869 $ (10,069,001 ) $ 1,103,551
Consolidated Condensed Statements of Cash Flows	PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (118,701 ) $ (1,611 ) $ (39,141 ) $ 40,752 (118,701 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 81,260 41,113 — 122,373 (Gain) loss on disposition of assets — 247 2,604 — 2,851 Deferred tax expense (benefit) 4,785 (7,750 ) 2,741 — (224 ) Provision for reduction in carrying value of certain assets — — 1,938 — 1,938 Expenses not requiring cash 5,651 (218 ) 9,880 (11,062 ) 4,251 Change in assets and liabilities: Accounts and notes receivable — (16,540 ) 13,483 (6,571 ) (9,628 ) Rig materials and supplies — (760 ) 5,470 — 4,710 Other current assets (50,296 ) 34,941 14,036 — (1,319 ) Accounts payable and accrued liabilities (4,393 ) 56,354 262,884 (323,559 ) (8,714 ) Accrued income taxes 79,319 (60,882 ) (17,899 ) — 538 Other assets 24,722 (35,829 ) (280,675 ) 300,440 8,658 Net cash provided by (used in) operating activities (58,913 ) 49,212 16,434 — 6,733 Cash flows from investing activities: Capital expenditures — (42,990 ) (11,543 ) — (54,533 ) Proceeds from the sale of assets — 68 335 — 403 Net cash provided by (used in) investing activities — (42,922 ) (11,208 ) — (54,130 ) Cash flows from financing activities: Proceeds from the issuance of common stock 25,200 — — — 25,200 Proceeds from the issuance of mandatory convertible preferred stock 50,000 — — — 50,000 Payment of equity issuance costs (2,864 ) — — — (2,864 ) Mandatory convertible preferred stock dividend (2,145 ) — — — (2,145 ) Shares surrendered in lieu of tax (936 ) — — — (936 ) Net cash provided by (used in) financing activities 69,255 — — — 69,255 Net increase (decrease) in cash and cash equivalents 10,342 6,290 5,226 — 21,858 Cash and cash equivalents at beginning of year 65,000 14,365 40,326 — 119,691 Cash and cash equivalents at end of year $ 75,342 $ 20,655 $ 45,552 $ — $ 141,549 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (230,814 ) $ (49,625 ) $ (44,844 ) $ 94,469 (230,814 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 90,218 49,577 — 139,795 Accretion of contingent consideration — 419 — — 419 Loss on extinguishment of debt 1,088 — — — 1,088 (Gain) loss on disposition of assets — 565 1,048 — 1,613 Deferred tax expense (benefit) 47,971 14,846 6,245 — 69,062 Expenses not requiring cash 9,545 (1,624 ) (5,403 ) — 2,518 Equity in net earnings (losses) of subsidiaries 94,469 — — (94,469 ) — Change in assets and liabilities: Accounts and notes receivable — 25,923 34,468 — 60,391 Rig materials and supplies — (73 ) (1,679 ) — (1,752 ) Other current assets 50,296 (35,322 ) (12,834 ) — 2,140 Accounts payable and accrued liabilities (121,016 ) 97,315 4,207 — (19,494 ) Accrued income taxes (10,381 ) (626 ) 4,585 — (6,422 ) Other assets (299 ) 101 4,095 — 3,897 Net cash provided by (used in) operating activities (159,141 ) 142,117 39,465 — 22,441 Cash flows from investing activities: Capital expenditures — (15,384 ) (13,570 ) — (28,954 ) Proceeds from the sale of assets — 437 2,004 — 2,441 Net cash provided by (used in) investing activities — (14,947 ) (11,566 ) — (26,513 ) Cash flows from financing activities: Payment for noncontrolling interest (3,375 ) — — — (3,375 ) Payment of contingent consideration — (6,000 ) — — (6,000 ) Shares surrendered in lieu of tax (1,156 ) (1,156 ) Intercompany advances, net 154,687 (120,659 ) (34,028 ) — — Net cash provided by (used in) financing activities 150,156 (126,659 ) (34,028 ) — (10,531 ) Net increase (decrease) in cash and cash equivalents (8,985 ) 511 (6,129 ) — (14,603 ) Cash and cash equivalents at beginning of year 73,985 13,854 46,455 — 134,294 Cash and cash equivalents at end of year $ 65,000 $ 14,365 $ 40,326 $ — $ 119,691 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (95,073 ) $ (13,875 ) $ (21,967 ) $ 36,631 $ (94,284 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 95,071 61,123 — 156,194 Accretion of contingent consideration — 826 — — 826 Gain (loss) on disposition of assets — (439 ) (1,204 ) — (1,643 ) Deferred tax expense (benefit) (18,715 ) 11,718 9,706 — 2,709 Excess tax benefit (expense) from stock-based compensation (1,045 ) — — — (1,045 ) Provision for reduction in carrying value of certain assets — 2,088 10,402 — 12,490 Expenses not requiring cash 7,344 854 (2,062 ) — 6,136 Equity in net earnings of subsidiaries 36,631 — — (36,631 ) — Change in assets and liabilities: Accounts and notes receivable (33 ) 61,818 42,210 — 103,995 Rig materials and supplies — 51 2,671 — 2,722 Other current assets 19,885 (16,257 ) 8,920 — 12,548 Accounts payable and accrued liabilities 10,228 (21,396 ) (16,257 ) — (27,425 ) Accrued income taxes 15,368 (9,405 ) (13,920 ) — (7,957 ) Other assets (198,955 ) 186,591 9,208 — (3,156 ) Net cash provided by (used in) operating activities (224,365 ) 297,645 88,830 — 162,110 Cash flows from investing activities: Capital expenditures — (58,817 ) (29,380 ) — (88,197 ) Proceeds from the sale of assets — 500 330 — 830 Proceeds from insurance settlements — — 2,500 — 2,500 Acquisitions, net of cash acquired (3,375 ) (10,431 ) — — (13,806 ) Divestitures, net of cash paid — — (2,570 ) — (2,570 ) Net cash provided by (used in) investing activities (3,375 ) (68,748 ) (29,120 ) — (101,243 ) Cash flows from financing activities: Proceeds from debt issuance — — — — — Repayments of long term debt (30,000 ) — — — (30,000 ) Payments of debt issuance costs (1,996 ) — — — (1,996 ) Payment of contingent consideration — (2,000 ) — — (2,000 ) Shares surrendered in lieu of tax (1,033 ) (1,033 ) Intercompany advances, net 298,026 (226,589 ) (71,437 ) — — Net cash provided by (used in) financing activities 264,997 (228,589 ) (71,437 ) — (35,029 ) Net increase (decrease) in cash and cash equivalents 37,257 308 (11,727 ) — 25,838 Cash and cash equivalents at beginning of year 36,728 13,546 58,182 — 108,456 Cash and cash equivalents at end of year $ 73,985 $ 13,854 $ 46,455 $ — $ 134,294

Selected Quarterly Financial 41

Selected Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Schedule of Selected Quarterly Financial Data	Quarter Year 2017 First Second Third Fourth Total (Dollars in Thousands Except Per Share Amounts) (Unaudited) Revenues $ 98,271 $ 109,607 $ 118,308 $ 116,334 $ 442,520 Operating gross margin (loss) $ (19,745 ) $ (11,016 ) $ 121 $ (4,700 ) $ (35,340 ) Operating income (loss) $ (27,137 ) $ (17,632 ) $ (6,815 ) $ (14,221 ) $ (65,805 ) Net income (loss) attributable to controlling interest $ (39,809 ) $ (29,888 ) $ (20,311 ) $ (28,693 ) $ (118,701 ) Net income (loss) available to common stockholders $ (39,809 ) $ (31,127 ) $ (21,217 ) $ (29,599 ) $ (121,752 ) Basic earnings per share — net income (loss) (1) $ (0.31 ) $ (0.23 ) $ (0.15 ) $ (0.21 ) $ (0.89 ) Diluted earnings per share — net income (loss) (1) $ (0.31 ) $ (0.23 ) $ (0.15 ) $ (0.21 ) $ (0.89 ) Quarter Year 2016 First Second Third Fourth Total (Dollars in Thousands Except Per Share Amounts) (Unaudited) Revenues $ 130,503 $ 105,287 $ 97,189 $ 94,025 $ 427,004 Operating gross margin (loss) $ (13,428 ) $ (20,225 ) $ (21,965 ) $ (19,694 ) $ (75,312 ) Operating income (loss) $ (23,269 ) $ (28,222 ) $ (29,576 ) $ (30,190 ) $ (111,257 ) Net income (loss) attributable to controlling interest $ (95,835 ) $ (39,822 ) $ (46,228 ) $ (48,929 ) $ (230,814 ) Net income (loss) available to common stockholders $ (95,835 ) $ (39,822 ) $ (46,228 ) $ (48,929 ) $ (230,814 ) Basic earnings per share — net income (loss) $ (0.78 ) $ (0.32 ) $ (0.37 ) $ (0.39 ) $ (1.86 ) Diluted earnings per share — net income (loss) $ (0.78 ) $ (0.32 ) $ (0.37 ) $ (0.39 ) $ (1.86 ) (1) As a result of shares issued during the year, earnings (loss) per share for each of the year’s four quarters, which are based on weighted average shares outstanding during each quarter, may not equal the annual earnings (loss) per share, which is based on the weighted average shares outstanding during the year. Additionally, as a result of rounding to the thousands, earnings per share may not equal the year-to-date results.

Summary of Significant Accoun42

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)countrysegmentbusiness_lineft	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Revenue, Major Customer [Line Items]
Number of business lines | business_line	2
Number of reportable segments | segment	2
Number of countries entity has operated in since inception (more than) | country	50
Number of countries with operations | country	19
Percentage accounted for under the equity method	50.00%
Reimbursement cost	$ 57.8	$ 69.3	$ 87.8
Capitalized interest costs of construction of rigs	$ 0	0.2	0.2
Consumed and replenished period	1 year
Deposits in domestic bank	$ 97.6	81.4
Deposits in foreign banks	45.6	39.7
Exxon Neftegas Limited (ENL)
Revenue, Major Customer [Line Items]
Reimbursement revenue	$ 50.8	$ 67	$ 75.8
Customer Concentration Risk | Sales Revenue, Net | Exxon Neftegas Limited (ENL)
Revenue, Major Customer [Line Items]
Percentage of revenue from major customer	31.30%	38.70%	27.90%
Customer Concentration Risk | Sales Revenue, Net | BP Exploration Alaska, Inc. (BP)
Revenue, Major Customer [Line Items]
Percentage of revenue from major customer	9.70%
International & Alaska Drilling
Revenue, Major Customer [Line Items]
Contract term	1 year
International & Alaska Drilling | Customer Concentration Risk | Sales Revenue, Net | Exxon Neftegas Limited (ENL)
Revenue, Major Customer [Line Items]
Percentage of revenue from major customer	55.90%	57.50%	45.60%
International & Alaska Drilling | Customer Concentration Risk | Sales Revenue, Net | BP Exploration Alaska, Inc. (BP)
Revenue, Major Customer [Line Items]
Percentage of revenue from major customer	17.40%
Minimum
Revenue, Major Customer [Line Items]
Estimated Useful Life (Years)	3 years
Minimum | U.S. (Lower 48) Drilling
Revenue, Major Customer [Line Items]
Underwater drilling depth (in feet) | ft	6
Contract term	20 days
Maximum
Revenue, Major Customer [Line Items]
Estimated Useful Life (Years)	6 years
Maximum | U.S. (Lower 48) Drilling
Revenue, Major Customer [Line Items]
Underwater drilling depth (in feet) | ft	12
Contract term	180 days

Summary of Significant Accoun43

Summary of Significant Accounting Policies - Summary of Total Accounts and Notes Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Trade	$ 130,075	$ 121,490
Allowance for bad debts	(7,564)	(8,259)
Total accounts and notes receivable, net of allowance for bad debt	$ 122,511	$ 113,231

Summary of Significant Accoun44

Summary of Significant Accounting Policies - Summary of Depreciable Lives for Different Categories of Property Plant and Equipment (Detail)	12 Months Ended
	Dec. 31, 2017
Land Drilling Equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years
Land Drilling Equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	20 years
Barage Drilling Equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years
Barage Drilling Equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	20 years
Drill pipe, rental tools and other | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	4 years
Drill pipe, rental tools and other | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	15 years
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	5 years
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	30 years

Goodwill and Intangible Asset45

Goodwill and Intangible Assets Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill recognized and expected to be deductible for income tax purposes		$ 0
Write-off of intangibles	$ 600,000
Amortization expense		$ 2,800,000	$ 3,500,000	$ 4,300,000

Goodwill and Intangible Asset46

Goodwill and Intangible Assets Change in Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2016	$ 6,708
Additions	0
Balance at December 31, 2017	$ 6,708

Goodwill and Intangible Asset47

Goodwill and Intangible Assets Intangible Assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 21,970
Write-off Due to Sale	(596)
Accumulated Amortization	(14,246)
Net Carrying Amount	7,128
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,018	2,306
2,019	2,306
2,020	2,030
2,021	486
Beyond 2,021	$ 0
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	6 years
Gross Carrying Amount	$ 11,630
Write-off Due to Sale	0
Accumulated Amortization	(5,330)
Net Carrying Amount	$ 6,300
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	3 years
Gross Carrying Amount	$ 5,400
Write-off Due to Sale	(264)
Accumulated Amortization	(5,136)
Net Carrying Amount	$ 0
Trade Names
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	5 years
Gross Carrying Amount	$ 4,940
Write-off Due to Sale	(332)
Accumulated Amortization	(3,780)
Net Carrying Amount	$ 828

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balances	$ 339,135	$ 568,512	$ 666,214
Current period other comprehensive income	3,332	(4,956)	(1,607)
Ending Balances	296,121	339,135	$ 568,512
Foreign Currency Items
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balances	(6,844)
Current period other comprehensive income	3,332
Ending Balances	$ (3,512)	$ (6,844)

Property Plant and Equipment (D

Property Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment, at cost	$ 1,968,876	$ 2,014,083
Less: Accumulated Depreciation and Amortization	1,343,105	1,320,644
Property, Plant, and Equipment, Net	625,771	693,439
Depreciation	119,600	136,300	$ 151,900
Other asset impairment charges	1,938	0	12,490
Gain (loss) on disposition of assets, net	(2,851)	(1,613)	$ 1,643
Drilling Equipment
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment, at cost	1,228,443	1,306,641
Rental Tools
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment, at cost	552,461	516,144
Building, Land and Improvements
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment, at cost	60,309	54,799
Other
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment, at cost	115,910	111,142
Construction in Progress
Property, Plant and Equipment [Line Items]
Total Property, Plant and Equipment, at cost	$ 11,753	$ 25,357

Income Taxes - Summary of Compo

Income Taxes - Summary of Components of Income (Loss) Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
United States	$ (89,233)	$ (131,106)	$ (77,368)
Foreign	(20,428)	(25,538)	5,397
Income (loss) before income taxes	$ (109,661)	$ (156,644)	$ (71,971)

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current:
Federal	$ 80	$ (1,921)	$ 2,485
State	54	(9)	365
Foreign	9,130	7,038	16,754
Deferred:
Federal	167	64,066	(141)
State	0	(47)	(4,769)
Foreign	(391)	5,043	7,619
Total income tax expense (benefit)	$ 9,040	$ 74,170	$ 22,313

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Reconciliation from Federal Income Tax Statutory Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Computed expected tax expense	$ (38,381)	$ (54,825)	$ (25,190)
Foreign taxes	13,084	12,688	16,043
Tax effect different from statutory rates	(2,048)	(3,629)	(2,729)
State taxes, net of federal benefit	35	(849)	(4,544)
Foreign tax credits	3	20	(5,566)
Change in valuation allowance (excluding impact of Tax Act)	30,704	117,707	40,676
Uncertain tax positions	194	(726)	(81)
Permanent differences	2,970	1,442	1,696
Prior year return to provision adjustments	2,442	2,078	1,555
Other	37	264	453
Impact of Tax Act
Effect of tax rate reduction on deferred tax	45,329	0	0
Effect of tax rate on deferred tax valuation	(45,329)	0	0
Total income tax expense (benefit)	$ 9,040	$ 74,170	$ 22,313
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Computed expected tax expense	35.00%	35.00%	35.00%
Foreign taxes	(11.90%)	(8.10%)	(22.30%)
Tax effect different from statutory rates	1.90%	2.30%	3.80%
State taxes, net of federal benefit	0.00%	0.50%	6.30%
Foreign tax credits	(0.00%)	(0.00%)	7.70%
Change in valuation allowance (excluding impact of Tax Act)	(28.00%)	(75.10%)	(56.50%)
Uncertain tax positions	(0.20%)	0.50%	0.10%
Permanent differences	(2.70%)	(0.90%)	(2.40%)
Prior year return to provision adjustments	(2.30%)	(1.30%)	(2.10%)
Other	0.00%	(0.20%)	(0.60%)
Effect Of Tax Cuts And Jobs Act Of 2017, Percent [Abstract]
Effect of tax rate reduction on deferred tax	(41.30%)	0.00%	0.00%
Effect of tax rate on deferred tax valuation	41.30%	0.00%	0.00%
Actual Tax Expense, Percentage	(8.20%)	(47.30%)	(31.00%)

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Federal net operating loss carryforwards	$ 95,867	$ 120,986
State net operating loss carryforwards	11,089	7,168
Other state deferred tax asset, net	1,592	2,646
Foreign Tax Credits	46,913	46,859
FIN 48	953	883
Foreign tax	36,699	29,791
Asset Impairment	8,161	27,165
Accruals not currently deductible for tax purposes	2,926	1,657
Deferred compensation	1,204	3,424
Other	74	863
Gross long-term deferred tax assets	205,478	241,442
Valuation Allowance	(157,914)	(171,133)
Net deferred tax assets, net of valuation allowance	47,564	70,309
Deferred tax liabilities:
Property, Plant and equipment	(38,809)	(64,256)
Foreign tax local	(78)	490
Other state deferred tax liability, net	(6,140)	(5,567)
Intangibles	(1,331)	0
Gross deferred tax liabilities	(46,358)	(69,333)
Net deferred tax asset	$ 1,206	$ 976

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Contingency [Line Items]
Change in valuation allowance (excluding impact of Tax Act)	$ 30,704	$ 117,707	$ 40,676
Liability for unrecognized tax benefits	5,395	4,628
Accrued interest and penalties related to uncertain tax positions	2,100	1,900
Unrecognized tax benefits, interest on tax expense	200
Unrecognized tax benefits, tax penalties	0
Deferred tax valuation allowance
Income Tax Contingency [Line Items]
Charged to cost and expenses	$ (14,625)	$ 117,707	$ 40,676

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ (4,628)
Reductions based on tax positions taken during a prior period	3
Additions based on tax positions taken during the current period	(770)
Ending balance	$ (5,395)

Long-Term Debt - Summary of Com

Long-Term Debt - Summary of Company's Current Debt Portfolio (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Jan. 22, 2014	Jul. 30, 2013
Debt Instrument [Line Items]
Total principal	$ 585,000	$ 585,000
Less: unamortized debt issuance costs	(7,029)	(8,674)
Total long-term debt	577,971	576,326
6.75% Notes, due July 2022
Debt Instrument [Line Items]
Total principal	360,000	360,000
Less: unamortized debt issuance costs	$ (4,600)
Debt instrument fixed interest rate	6.75%		6.75%
7.50% Senior Notes, due August 2020
Debt Instrument [Line Items]
Total principal	$ 225,000	$ 225,000
Less: unamortized debt issuance costs	$ (2,400)
Debt instrument fixed interest rate	7.50%			7.50%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	Feb. 14, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 26, 2015	Jan. 22, 2014	Jul. 30, 2013
Debt Instrument [Line Items]
Debt issuance costs, net of amortization		$ 7,029,000	$ 8,674,000
2015 Secured Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		100,000,000		$ 200,000,000
Unamortized debt issuance expense		800,000
Current borrowing capacity		94,400,000
Letters of credit outstanding		5,700,000
Revolving loan outstanding		0
2015 Secured Credit Agreement | Pro Forma
Debt Instrument [Line Items]
Current borrowing capacity		$ 46,800,000
2015 Secured Credit Agreement | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 80,000,000
Debt covenants, minimum liquidity amount	30,000,000
Debt covenants, minimum liquidity amount, restricted amount	15,000,000
Borrowing capacity net of restricted liability amount and outstanding letters of credit	65,000,000
Current borrowing capacity	$ 67,500,000
6.75% Notes, due July 2022
Debt Instrument [Line Items]
Debt instrument fixed interest rate		6.75%			6.75%
Aggregate principal amount					$ 360,000,000
Debt issuance costs		$ 7,600,000
Debt issuance costs, net of amortization		$ 4,600,000
Redemption price, percent after year three					103.375%
Redemption price, percent after year five					101.00%
7.50% Senior Notes, due August 2020
Debt Instrument [Line Items]
Debt instrument fixed interest rate		7.50%				7.50%
Aggregate principal amount						$ 225,000,000
Debt issuance costs		$ 5,600,000
Debt issuance costs, net of amortization		$ 2,400,000
Redemption price, percent after year three		101.875%
Redemption price, percent after year five						101.00%

Fair Value of Financial Instr58

Fair Value of Financial Instruments - Fair Values and Related Carrying Values of Debt Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Jan. 22, 2014
6.75% Notes
Long-term Debt
Debt instrument fixed interest rate	6.75%		6.75%
Carrying Amount
Long-term Debt
Long-term Debt	$ 585,000	$ 585,000
Carrying Amount | 6.75% Notes
Long-term Debt
Long-term Debt	360,000	360,000
Carrying Amount | 7.50% Notes
Long-term Debt
Long-term Debt	225,000	225,000
Fair Value
Long-term Debt
Long-term Debt	502,538	512,775
Fair Value | 6.75% Notes
Long-term Debt
Long-term Debt	296,100	311,400
Fair Value | 7.50% Notes
Long-term Debt
Long-term Debt	$ 206,438	$ 201,375

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Awards (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Stock award vesting period	3 years
Nonvested RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, Beginning Balance (in shares)	5,333,522
Granted (in shares)	2,711,546	3,289,569	2,996,151
Vested (in shares)	(2,512,552)
Forfeited (in shares)	(998,338)
Nonvested, Ending Balance (in shares)	4,534,178	5,333,522
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested, Beginning Balance (in dollars per share)	$ 2.85
Granted (in dollars per share)	1.42	$ 2.07	$ 3.08
Vested (in dollars per share)	3.41
Forfeited (in dollars per share)	2.29
Nonvested, Ending Balance (in dollars per share)	$ 1.81	$ 2.85
Allocated share-based compensation expense	$ 4	$ 7.5	$ 8.4
Fair value of units vested in period	8.6	$ 10	$ 8
Unrecognized compensation cost	$ 3.3
Weighted-average vesting period	33 months
Time-Based Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, Beginning Balance (in shares)	985,938
Granted (in shares)	648,755	1,188,854	0
Vested (in shares)	(299,796)
Forfeited (in shares)	(216,793)
Nonvested, Ending Balance (in shares)	1,118,104	985,938
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Allocated share-based compensation expense	$ 0	$ 1.4
2010 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under stock plan	16,800,000
2010 Long-Term Incentive Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Share remaining available under Stock Plan	4,617,521

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance-Based Awards (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
PCUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested weighted average nominal value per share (in dollars per share)	$ 100
Percentage of number of shares earned related to performance maximum	200.00%
Performance period	3 years
Maximum percent of units granted at maximum achievement level	250.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, Beginning Balance (in shares)	26,352
Granted (in shares)	14,153	17,091	17,091
Vested (in shares)	(11,022)
Forfeited (in shares)	(6,462)
Nonvested, Ending Balance (in shares)	23,021	26,352
Allocated share-based compensation expense	$ 1	$ 2.3	$ 2.3
Performance-Based Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, Beginning Balance (in shares)	1,315,228
Granted (in shares)	660,370	1,164,880	541,127
Vested (in shares)	(348,962)
Forfeited (in shares)	(315,579)
Nonvested, Ending Balance (in shares)	1,311,057	1,315,228
Allocated share-based compensation expense	$ (0.9)	$ 1.3	$ 0.4

Earnings (Loss) Per Share (EP61

Earnings (Loss) Per Share (EPS) - Summary of Reconciliation of Income and Number of Shares Used to Calculate Basic and Diluted Earnings per Share (EPS) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Basic earnings (loss) per common share	$ (29,599)	$ (21,217)	$ (31,127)	$ (39,809)	$ (48,929)	$ (46,228)	$ (39,822)	$ (95,835)	$ (121,752)	$ (230,814)	$ (95,073)
Diluted earnings (loss) per common share									$ (121,752)	$ (230,814)	$ (95,073)
Basic earnings (loss) per common share (in shares)									136,266,843	124,130,004	122,562,187
Diluted earnings (loss) per common share									136,266,843	124,130,004	122,562,187
Basic earnings (loss) per common share (in dollars per share)	$ (0.21)	$ (0.15)	$ (0.23)	$ (0.31)	$ (0.39)	$ (0.37)	$ (0.32)	$ (0.78)	$ (0.89)	$ (1.86)	$ (0.78)
Restricted stock units (in shares)									0	0	0
Restricted stock units (in dollars per share)	0				0				$ 0	$ 0	$ 0
Diluted earnings (loss) per common share (in dollars per share)	$ (0.21)	$ (0.15)	$ (0.23)	$ (0.31)	$ (0.39)	$ (0.37)	$ (0.32)	$ (0.78)	$ (0.89)	$ (1.86)	$ (0.78)
Shares excluded from the computation of diluted EPS									23,809,500

Common and Preferred Stock Is62

Common and Preferred Stock Issuances (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 04, 2017	Aug. 03, 2017	May 09, 2017	Feb. 28, 2017	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Common stock, par value (in dollars per share)					$ 0.16667	$ 0.16667
Preferred stock, par value (in dollars per share)					1	$ 1
Preferred stock, liquidation preference per share (in dollars per share)					$ 100
Issuance of common stock and issuance of mandatory convertible preferred stock					$ 72,300
Conversion rate, measurement period					20 days
Preferred stock, dividends declared (in dollars per share)	$ 1.8125	$ 1.8125	$ 2.4771
Common Stock
Class of Stock [Line Items]
Issuance of common stock and issuance of mandatory convertible preferred stock (in shares)				12,000,000
Shares issued, price per share (in dollars per share)				$ 2.10
Issuance of common stock and issuance of mandatory convertible preferred stock					$ 24,059
Common Stock | Minimum
Class of Stock [Line Items]
Conversion rate (in shares)					41.4079
Common Stock | Maximum
Class of Stock [Line Items]
Conversion rate (in shares)					47.6190
Preferred Stock
Class of Stock [Line Items]
Issuance of common stock and issuance of mandatory convertible preferred stock (in shares)				500,000
Series A Mandatory Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, dividend rate					7.25%	7.25%

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Postemployment Benefits [Abstract]
Company's matching contribution percent	25.00%
Percent of participant's compensation	6.00%
Matching contribution costs to the Plan	$ 0.7	$ 1.1	$ 4
Vesting percentage for employees hired prior to July 2017	100.00%
Vesting period for employees hired after July 2017	3 years

Reportable Segments - Narrative

Reportable Segments - Narrative (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)segmentbusiness_lineft	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Number of business lines | business_line	2
Number of reportable segments | segment	2
Number of operating segments | segment	4
Depreciation and amortization	$ 122,373	$ 139,795	$ 156,194
Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 8,700	8,300	7,500
International & Alaska Drilling
Segment Reporting Information [Line Items]
Contract term	1 year
Exxon Neftegas Limited (ENL)
Segment Reporting Information [Line Items]
Reimbursement revenue	$ 50,800	$ 67,000	$ 75,800
Exxon Neftegas Limited (ENL) | Customer Concentration Risk | Sales Revenue, Net
Segment Reporting Information [Line Items]
Percentage of revenue from major customer	31.30%	38.70%	27.90%
Exxon Neftegas Limited (ENL) | Customer Concentration Risk | Sales Revenue, Net | International & Alaska Drilling
Segment Reporting Information [Line Items]
Percentage of revenue from major customer	55.90%	57.50%	45.60%
Exxon Neftegas Limited (ENL) | Customer Concentration Risk | Sales Revenue, Net of Reimbursable Revenues
Segment Reporting Information [Line Items]
Percentage of revenue from major customer	22.70%	27.50%	19.70%
Exxon Neftegas Limited (ENL) | Customer Concentration Risk | Sales Revenue, Net of Reimbursable Revenues | International & Alaska Drilling
Segment Reporting Information [Line Items]
Percentage of revenue from major customer	46.10%	45.00%	35.30%
BP Exploration Alaska, Inc. (BP) | Customer Concentration Risk | Sales Revenue, Net
Segment Reporting Information [Line Items]
Percentage of revenue from major customer	9.70%
BP Exploration Alaska, Inc. (BP) | Customer Concentration Risk | Sales Revenue, Net | International & Alaska Drilling
Segment Reporting Information [Line Items]
Percentage of revenue from major customer	17.40%
Minimum | U.S. (Lower 48) Drilling
Segment Reporting Information [Line Items]
Underwater drilling depth (in feet) | ft	6
Contract term	20 days
Maximum | U.S. (Lower 48) Drilling
Segment Reporting Information [Line Items]
Underwater drilling depth (in feet) | ft	12
Contract term	180 days

Reportable Segments - Results o

Reportable Segments - Results of Operations by Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Revenues	$ 116,334	$ 118,308	$ 109,607	$ 98,271	$ 94,025	$ 97,189	$ 105,287	$ 130,503	$ 442,520	$ 427,004	$ 712,183
Operating income:
Total operating gross margin	(4,700)	121	(11,016)	(19,745)	(19,694)	(21,965)	(20,225)	(13,428)	(35,340)	(75,312)	29,699
General and administrative expense									(25,676)	(34,332)	(36,190)
Provision for reduction in carrying value of certain assets									(1,938)	0	(12,490)
Gain (loss) on disposition of assets, net									(2,851)	(1,613)	1,643
Total operating income (loss)	(14,221)	$ (6,815)	$ (17,632)	$ (27,137)	(30,190)	$ (29,576)	$ (28,222)	$ (23,269)	(65,805)	(111,257)	(17,338)
Interest expense									(44,226)	(45,812)	(45,155)
Interest income									244	58	269
Other									126	367	(9,747)
Income (loss) before income taxes									(109,661)	(156,644)	(71,971)
Capital expenditures:
Total capital expenditures									54,533	28,954	88,197
Depreciation and amortization:
Total depreciation and amortization									122,373	139,795	156,194
Identifiable assets:
Total assets	990,279				1,103,551				990,279	1,103,551
Operating Segments
Identifiable assets:
Total assets	851,908				965,468				851,908	965,468
Corporate
Capital expenditures:
Total capital expenditures									2,098	2,859	4,819
Depreciation and amortization:
Total depreciation and amortization									8,700	8,300	7,500
Identifiable assets:
Total assets	138,371				138,083				138,371	138,083
Drilling Services:
Revenues:
Revenues									259,643	292,761	465,454
Operating income:
Total operating gross margin									(26,904)	(25,081)	16,902
U.S. (Lower 48) Drilling
Revenues:
Revenues									12,389	5,429	30,358
Operating income:
Total operating gross margin									(20,656)	(34,353)	(28,309)
U.S. (Lower 48) Drilling | Operating Segments
Capital expenditures:
Total capital expenditures									230	264	2,731
Depreciation and amortization:
Total depreciation and amortization									13,521	20,049	22,420
Identifiable assets:
Total assets	62,980				77,628				62,980	77,628
International & Alaska Drilling
Revenues:
Revenues									247,254	287,332	435,096
Operating income:
Total operating gross margin									(6,248)	9,272	45,211
International & Alaska Drilling | Operating Segments
Capital expenditures:
Total capital expenditures									3,673	5,258	13,458
Depreciation and amortization:
Total depreciation and amortization									46,950	55,236	64,539
Identifiable assets:
Total assets	421,753				591,120				421,753	591,120
Rental Tools
Revenues:
Revenues									182,877	134,243	246,729
Operating income:
Total operating gross margin									(8,436)	(50,231)	12,797
U.S. Rental Tools
Revenues:
Revenues									121,937	71,613	141,889
Operating income:
Total operating gross margin									15,651	(22,372)	17,380
U.S. Rental Tools | Operating Segments
Capital expenditures:
Total capital expenditures									39,948	10,848	47,673
Depreciation and amortization:
Total depreciation and amortization									43,489	43,769	47,453
Identifiable assets:
Total assets	198,664				126,289				198,664	126,289
International Rental Tools
Revenues:
Revenues									60,940	62,630	104,840
Operating income:
Total operating gross margin									(24,087)	(27,859)	(4,583)
International Rental Tools | Operating Segments
Capital expenditures:
Total capital expenditures									8,584	9,725	19,516
Depreciation and amortization:
Total depreciation and amortization									18,413	20,741	$ 21,782
Identifiable assets:
Total assets	$ 168,511				$ 170,431				$ 168,511	$ 170,431

Reportable Segments - Results66

Reportable Segments - Results of Operations by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Total revenues	$ 116,334	$ 118,308	$ 109,607	$ 98,271	$ 94,025	$ 97,189	$ 105,287	$ 130,503	$ 442,520	$ 427,004	$ 712,183
Long-lived assets:
Total long-lived assets	625,771				693,439				625,771	693,439
Russia
Revenues:
Total revenues									139,144	142,538	165,193
Long-lived assets:
Total long-lived assets	19,415				21,395				19,415	21,395
Other CIS
Revenues:
Total revenues									23,768	33,659	61,145
Long-lived assets:
Total long-lived assets	29,402				35,914				29,402	35,914
EMEA & Asia
Revenues:
Total revenues									64,572	79,870	148,015
Long-lived assets:
Total long-lived assets	108,621				116,857				108,621	116,857
Latin America
Revenues:
Total revenues									11,594	12,952	69,989
Long-lived assets:
Total long-lived assets	38,959				48,528				38,959	48,528
United States
Revenues:
Total revenues									177,630	127,596	231,779
Long-lived assets:
Total long-lived assets	429,374				470,745				429,374	470,745
Other
Revenues:
Total revenues									25,812	30,389	$ 36,062
Long-lived assets:
Total long-lived assets	$ 0				$ 0				$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Minimum Lease Payments Under Operating Leases with Non Cancelable Terms (Detail) $ in Thousands	Dec. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,018	$ 6,867
2,019	4,742
2,020	3,009
2,021	1,409
2,022	902
Thereafter	1,413
Total	$ 18,342

Commitments and Contingencies68

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Rent expense for operating leases	$ 23,800,000	$ 21,800,000	$ 19,200,000
Exposure per occurrence, employees compensation	250,000
Aggregate self insured exposure per employer's liability	500,000
Exposure per occurrence	500,000
Aggregate self insured exposure per occurrence, foreign employees compensation	100,000
Aggregate self insured exposure per employer's liability, foreign	1,000,000
Auto liability claims	100,000
Gross self insurance accruals	3,200,000	3,900,000
Related insurance recoveries	$ 1,900,000	$ 1,500,000
Employment agreement, automatic renewal period	1 year
Employment agreements, termination lump sum payments, period following change in control of company	2 years

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	Dec. 13, 2013	Jan. 31, 2017	Jan. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jan. 22, 2014	Jul. 30, 2013
7.50% Senior Notes, due August 2020
Related Party Transaction [Line Items]
Debt instrument fixed interest rate				7.50%					7.50%
6.75% Notes
Related Party Transaction [Line Items]
Debt instrument fixed interest rate				6.75%				6.75%
Board of Directors Chairman | Robert L. Parker Jr.
Related Party Transaction [Line Items]
Board of directors, service term	3 years
Related party transaction, expense							$ 411,188
Share-based compensation cost						$ 706,082	1,096,687
Severance costs							2,488,024
Benefit expenses						14,441	$ 12,876
Consultant fee				$ 250,000	$ 250,000	250,000
Employee Relative
Related Party Transaction [Line Items]
Related party transaction, expense						180,000
Employee One
Related Party Transaction [Line Items]
Related party transaction, expense		$ 90,000	$ 90,000
Employee Two
Related Party Transaction [Line Items]
Related party transaction, expense		$ 90,000	$ 90,000
Director | 7.50% Senior Notes, due August 2020
Related Party Transaction [Line Items]
Notes payable, related parties						550,000
Director | 6.75% Notes
Related Party Transaction [Line Items]
Notes payable, related parties						$ 650,000

Supplementary Information - Add

Supplementary Information - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accrued liabilities:
Accrued Payroll & Related Benefits	$ 27,252	$ 20,714
Accrued Interest Expense	18,169	18,169
Accrued Professional Fees & Other	7,888	13,039
Deferred Mobilization Fees	3,149	2,681
Workers’ Compensation Liabilities, net	1,265	1,583
Total accrued liabilities	$ 57,723	$ 56,186

Parent, Guarantor, Non-Guaran71

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of guaranteed subsidiaries by the parent companies	100.00%

Parent, Guarantor, Non-Guaran72

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Consolidating Condensed Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Total revenues	$ 116,334	$ 118,308	$ 109,607	$ 98,271	$ 94,025	$ 97,189	$ 105,287	$ 130,503	$ 442,520	$ 427,004	$ 712,183
Operating expenses									355,487	362,521	526,290
Depreciation and amortization									122,373	139,795	156,194
Total operating gross margin (loss)	(4,700)	121	(11,016)	(19,745)	(19,694)	(21,965)	(20,225)	(13,428)	(35,340)	(75,312)	29,699
General and administration expense									(25,676)	(34,332)	(36,190)
Provision for reduction in carrying value of certain assets									(1,938)	0	(12,490)
Gain (loss) on disposition of assets, net									(2,851)	(1,613)	1,643
Total operating income (loss)	(14,221)	(6,815)	(17,632)	(27,137)	(30,190)	(29,576)	(28,222)	(23,269)	(65,805)	(111,257)	(17,338)
Other income (expense):
Interest expense									(44,226)	(45,812)	(45,155)
Interest income									244	58	269
Loss on extinguishment of debt										(1,088)	0
Other									126	367	(9,747)
Equity in net earnings of subsidiaries									0	0	0
Total other income (expense)									(43,856)	(45,387)	(54,633)
Income (loss) before income taxes									(109,661)	(156,644)	(71,971)
Current tax expense (benefit)									9,264	5,108	19,604
Deferred tax expense (benefit)									(224)	69,062	2,709
Total income tax expense (benefit)									9,040	74,170	22,313
Net income (loss)									(118,701)	(230,814)	(94,284)
Less: Net income attributable to noncontrolling interest									0	0	789
Net income (loss) attributable to controlling interest	(28,693)	(20,311)	(29,888)	(39,809)	(48,929)	(46,228)	(39,822)	(95,835)	(118,701)	(230,814)	(95,073)
Less: Mandatory convertible preferred stock dividend									3,051	0	0
Net income (loss) available to common stockholders	$ (29,599)	$ (21,217)	$ (31,127)	$ (39,809)	$ (48,929)	$ (46,228)	$ (39,822)	$ (95,835)	(121,752)	(230,814)	(95,073)
Reportable Legal Entities | Parent
Income Statement [Abstract]
Total revenues									0	0	0
Operating expenses									0	0	0
Depreciation and amortization									0	0	0
Total operating gross margin (loss)									0	0	0
General and administration expense									(323)	(410)	(1,279)
Provision for reduction in carrying value of certain assets										0
Gain (loss) on disposition of assets, net									0	0	0
Total operating income (loss)									(323)	(410)	(1,279)
Other income (expense):
Interest expense									(47,135)	(48,160)	(47,659)
Interest income									831	758	1,424
Loss on extinguishment of debt										(1,088)	0
Other									0	0	0
Equity in net earnings of subsidiaries									(40,752)	(94,469)	(36,631)
Total other income (expense)									(87,056)	(141,871)	(82,866)
Income (loss) before income taxes									(87,379)	(142,281)	(84,145)
Current tax expense (benefit)									26,537	40,562	29,643
Deferred tax expense (benefit)									4,785	47,971	(18,715)
Total income tax expense (benefit)									31,322	88,533	10,928
Net income (loss)									(118,701)	(230,814)	(95,073)
Less: Net income attributable to noncontrolling interest									0	0	0
Net income (loss) attributable to controlling interest									(118,701)	(230,814)	(95,073)
Less: Mandatory convertible preferred stock dividend									3,051	0	0
Net income (loss) available to common stockholders									(121,752)	(230,814)	(95,073)
Reportable Legal Entities | Guarantor
Income Statement [Abstract]
Total revenues									168,490	152,263	254,182
Operating expenses									94,546	103,013	143,563
Depreciation and amortization									81,260	90,218	95,071
Total operating gross margin (loss)									(7,316)	(40,968)	15,548
General and administration expense									(24,887)	(29,355)	(38,643)
Provision for reduction in carrying value of certain assets										0	(2,088)
Gain (loss) on disposition of assets, net									(247)	(565)	439
Total operating income (loss)									(32,450)	(70,888)	(24,744)
Other income (expense):
Interest expense									(220)	(642)	(1,035)
Interest income									744	695	852
Loss on extinguishment of debt										0	0
Other									71	484	(200)
Equity in net earnings of subsidiaries									0	0	0
Total other income (expense)									595	537	(383)
Income (loss) before income taxes									(31,855)	(70,351)	(25,127)
Current tax expense (benefit)									(22,494)	(35,572)	(22,970)
Deferred tax expense (benefit)									(7,750)	14,846	11,718
Total income tax expense (benefit)									(30,244)	(20,726)	(11,252)
Net income (loss)									(1,611)	(49,625)	(13,875)
Less: Net income attributable to noncontrolling interest									0	0	0
Net income (loss) attributable to controlling interest									(1,611)	(49,625)	(13,875)
Less: Mandatory convertible preferred stock dividend									0	0	0
Net income (loss) available to common stockholders									(1,611)	(49,625)	(13,875)
Reportable Legal Entities | Non-Guarantor
Income Statement [Abstract]
Total revenues									355,044	380,931	584,204
Operating expenses									341,955	365,698	508,930
Depreciation and amortization									41,113	49,577	61,123
Total operating gross margin (loss)									(28,024)	(34,344)	14,151
General and administration expense									(466)	(4,567)	3,732
Provision for reduction in carrying value of certain assets									(1,938)	0	(10,402)
Gain (loss) on disposition of assets, net									(2,604)	(1,048)	1,204
Total operating income (loss)									(33,032)	(39,959)	8,685
Other income (expense):
Interest expense									(7,906)	(6,434)	(11,579)
Interest income									9,704	8,029	13,111
Loss on extinguishment of debt										0	0
Other									55	(117)	(9,547)
Equity in net earnings of subsidiaries									0	0	0
Total other income (expense)									1,853	1,478	(8,015)
Income (loss) before income taxes									(31,179)	(38,481)	670
Current tax expense (benefit)									5,221	118	12,931
Deferred tax expense (benefit)									2,741	6,245	9,706
Total income tax expense (benefit)									7,962	6,363	22,637
Net income (loss)									(39,141)	(44,844)	(21,967)
Less: Net income attributable to noncontrolling interest									0	0	789
Net income (loss) attributable to controlling interest									(39,141)	(44,844)	(22,756)
Less: Mandatory convertible preferred stock dividend									0	0	0
Net income (loss) available to common stockholders									(39,141)	(44,844)	(22,756)
Eliminations
Income Statement [Abstract]
Total revenues									(81,014)	(106,190)	(126,203)
Operating expenses									(81,014)	(106,190)	(126,203)
Depreciation and amortization									0	0	0
Total operating gross margin (loss)									0	0	0
General and administration expense									0	0	0
Provision for reduction in carrying value of certain assets										0
Gain (loss) on disposition of assets, net									0	0	0
Total operating income (loss)									0	0	0
Other income (expense):
Interest expense									11,035	9,424	15,118
Interest income									(11,035)	(9,424)	(15,118)
Loss on extinguishment of debt										0	0
Other									0	0	0
Equity in net earnings of subsidiaries									40,752	94,469	36,631
Total other income (expense)									40,752	94,469	36,631
Income (loss) before income taxes									40,752	94,469	36,631
Current tax expense (benefit)									0	0	0
Deferred tax expense (benefit)									0	0	0
Total income tax expense (benefit)									0	0	0
Net income (loss)									40,752	94,469	36,631
Less: Net income attributable to noncontrolling interest									0	0	0
Net income (loss) attributable to controlling interest									40,752	94,469	36,631
Less: Mandatory convertible preferred stock dividend									0	0	0
Net income (loss) available to common stockholders									$ 40,752	$ 94,469	$ 36,631

Parent, Guarantor, Non-Guaran73

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Statement of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	$ (118,701)	$ (230,814)	$ (94,284)
Other comprehensive gain (loss), net of tax:
Currency translation difference on related borrowings	643	(691)	(2,012)
Currency translation difference on foreign currency net investments	2,689	(4,265)	405
Total other comprehensive gain (loss), net of tax:	3,332	(4,956)	(1,607)
Comprehensive income (loss)	(115,369)	(235,770)	(95,891)
Comprehensive (income) loss attributable to noncontrolling interest	0	0	4,606
Comprehensive income (loss) attributable to controlling interest	(115,369)	(235,770)	(91,285)
Reportable Legal Entities | Parent
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	(118,701)	(230,814)	(95,073)
Other comprehensive gain (loss), net of tax:
Currency translation difference on related borrowings	0	0	0
Currency translation difference on foreign currency net investments	0	0	0
Total other comprehensive gain (loss), net of tax:	0	0	0
Comprehensive income (loss)	(118,701)	(230,814)	(95,073)
Comprehensive (income) loss attributable to noncontrolling interest			0
Comprehensive income (loss) attributable to controlling interest			(95,073)
Reportable Legal Entities | Guarantor
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	(1,611)	(49,625)	(13,875)
Other comprehensive gain (loss), net of tax:
Currency translation difference on related borrowings	0	0	0
Currency translation difference on foreign currency net investments	0	0	0
Total other comprehensive gain (loss), net of tax:	0	0	0
Comprehensive income (loss)	(1,611)	(49,625)	(13,875)
Comprehensive (income) loss attributable to noncontrolling interest			0
Comprehensive income (loss) attributable to controlling interest			(13,875)
Reportable Legal Entities | Non-Guarantor
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	(39,141)	(44,844)	(21,967)
Other comprehensive gain (loss), net of tax:
Currency translation difference on related borrowings	643	(691)	(2,012)
Currency translation difference on foreign currency net investments	2,689	(4,265)	405
Total other comprehensive gain (loss), net of tax:	3,332	(4,956)	(1,607)
Comprehensive income (loss)	(35,809)	(49,800)	(23,574)
Comprehensive (income) loss attributable to noncontrolling interest			4,606
Comprehensive income (loss) attributable to controlling interest			(18,968)
Eliminations
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	40,752	94,469	36,631
Other comprehensive gain (loss), net of tax:
Currency translation difference on related borrowings	0	0	0
Currency translation difference on foreign currency net investments	0	0	0
Total other comprehensive gain (loss), net of tax:	0	0	0
Comprehensive income (loss)	$ 40,752	$ 94,469	36,631
Comprehensive (income) loss attributable to noncontrolling interest			0
Comprehensive income (loss) attributable to controlling interest			$ 36,631

Parent, Guarantor, Non-Guaran74

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Consolidating Condensed Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 141,549	$ 119,691	$ 134,294	$ 108,456
Accounts and notes receivable, net	122,511	113,231
Rig materials and supplies	31,415	32,354
Deferred costs	3,145	1,436
Other tax assets	4,889	6,475
Other current assets	14,327	13,131
Total current assets	317,836	286,318
Property, plant and equipment, net	625,771	693,439
Goodwill	6,708	6,708
Intangible assets, net	7,128	9,928
Investment in subsidiaries and intercompany advances	0	0
Other assets	32,836	107,158
Total assets	990,279	1,103,551
Current liabilities:
Accounts payable and accrued liabilities	99,246	98,841
Accrued income taxes	4,430	4,080
Total current liabilities	103,676	102,921
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017 and $8,674 at December 31, 2016	577,971	576,326
Other long-term liabilities	12,433	15,836
Long-term deferred tax liability	78	69,333
Intercompany payable	0	0
Liabilities	694,158	764,416
Total equity	296,121	339,135
Total liabilities and stockholders’ equity	990,279	1,103,551
Reportable Legal Entities | Parent
Current assets:
Cash and cash equivalents	75,342	65,000	73,985	36,728
Accounts and notes receivable, net	0	0
Rig materials and supplies	0	0
Deferred costs	0	0
Other tax assets	0	(50,296)
Other current assets	0	0
Total current assets	75,342	14,704
Property, plant and equipment, net	(19)	(19)
Goodwill	0	0
Intangible assets, net	0	0
Investment in subsidiaries and intercompany advances	2,955,050	2,979,413
Other assets	(261,232)	(253,679)
Total assets	2,769,141	2,740,419
Current liabilities:
Accounts payable and accrued liabilities	(51,060)	(10,080)
Accrued income taxes	76,883	0
Total current liabilities	25,823	(10,080)
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017 and $8,674 at December 31, 2016	577,971	576,326
Other long-term liabilities	2,867	2,867
Long-term deferred tax liability	(1)	(28)
Intercompany payable	1,865,810	1,828,317
Liabilities	2,472,470	2,397,402
Total equity	296,671	343,017
Total liabilities and stockholders’ equity	2,769,141	2,740,419
Reportable Legal Entities | Guarantor
Current assets:
Cash and cash equivalents	20,655	14,365	13,854	13,546
Accounts and notes receivable, net	32,338	15,749
Rig materials and supplies	(3,025)	(5,369)
Deferred costs	17	16
Other tax assets	0	35,733
Other current assets	6,345	5,555
Total current assets	56,330	66,049
Property, plant and equipment, net	428,556	469,927
Goodwill	6,708	6,708
Intangible assets, net	7,128	9,434
Investment in subsidiaries and intercompany advances	2,971,456	2,932,375
Other assets	237,755	301,771
Total assets	3,707,933	3,786,264
Current liabilities:
Accounts payable and accrued liabilities	179,247	149,210
Accrued income taxes	(56,870)	1,576
Total current liabilities	122,377	150,786
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017 and $8,674 at December 31, 2016	0	0
Other long-term liabilities	5,741	9,338
Long-term deferred tax liability	0	73,039
Intercompany payable	1,465,744	1,437,417
Liabilities	1,593,862	1,670,580
Total equity	2,114,071	2,115,684
Total liabilities and stockholders’ equity	3,707,933	3,786,264
Reportable Legal Entities | Non-Guarantor
Current assets:
Cash and cash equivalents	45,552	40,326	46,455	58,182
Accounts and notes receivable, net	90,173	97,482
Rig materials and supplies	34,440	37,723
Deferred costs	3,128	1,420
Other tax assets	4,889	21,038
Other current assets	7,982	7,576
Total current assets	186,164	205,565
Property, plant and equipment, net	197,234	223,531
Goodwill	0	0
Intangible assets, net	0	494
Investment in subsidiaries and intercompany advances	3,955,553	3,676,402
Other assets	537,124	539,877
Total assets	4,876,075	4,645,869
Current liabilities:
Accounts payable and accrued liabilities	588,536	577,188
Accrued income taxes	(15,583)	2,504
Total current liabilities	572,953	579,692
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017 and $8,674 at December 31, 2016	0	0
Other long-term liabilities	3,825	3,631
Long-term deferred tax liability	79	(3,678)
Intercompany payable	2,430,340	2,161,864
Liabilities	3,007,197	2,741,509
Total equity	1,868,878	1,904,360
Total liabilities and stockholders’ equity	4,876,075	4,645,869
Eliminations
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts and notes receivable, net	0	0
Rig materials and supplies	0	0
Deferred costs	0	0
Other tax assets	0	0
Other current assets	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Goodwill	0	0
Intangible assets, net	0	0
Investment in subsidiaries and intercompany advances	(9,882,059)	(9,588,190)
Other assets	(480,811)	(480,811)
Total assets	(10,362,870)	(10,069,001)
Current liabilities:
Accounts payable and accrued liabilities	(617,477)	(617,477)
Accrued income taxes	0	0
Total current liabilities	(617,477)	(617,477)
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017 and $8,674 at December 31, 2016	0	0
Other long-term liabilities	0	0
Long-term deferred tax liability	0	0
Intercompany payable	(5,761,894)	(5,427,598)
Liabilities	(6,379,371)	(6,045,075)
Total equity	(3,983,499)	(4,023,926)
Total liabilities and stockholders’ equity	$ (10,362,870)	$ (10,069,001)

Parent, Guarantor, Non-Guaran75

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Consolidated Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income (loss)	$ (118,701)	$ (230,814)	$ (94,284)
Adjustments to reconcile net income (loss):
Depreciation and amortization	122,373	139,795	156,194
Accretion of contingent consideration	0	419	826
Loss on extinguishment of debt		1,088	0
(Gain) loss on disposition of assets	2,851	1,613	(1,643)
Deferred tax expense (benefit)	(224)	69,062	2,709
Excess tax benefit (expense) from stock-based compensation	0		(1,045)
Provision for reduction in carrying value of certain assets	1,938	0	12,490
Expenses not requiring cash	4,251	2,518	6,136
Equity in net earnings of subsidiaries	0	0	0
Change in assets and liabilities:
Accounts and notes receivable	(9,628)	60,391	103,995
Rig materials and supplies	4,710	(1,752)	2,722
Other current assets	(1,319)	2,140	12,548
Accounts payable and accrued liabilities	(8,714)	(19,494)	(27,425)
Accrued income taxes	538	(6,422)	(7,957)
Other assets	8,658	3,897	(3,156)
Net cash provided by (used in) operating activities	6,733	22,441	162,110
Cash flows from investing activities:
Capital expenditures	(54,533)	(28,954)	(88,197)
Proceeds from the sale of assets	403	2,441	830
Proceeds from insurance settlements	0	0	2,500
Acquisitions, net of cash acquired	0	0	(13,806)
Divestitures, net of cash paid	0	0	(2,570)
Net cash provided by (used in) investing activities	(54,130)	(26,513)	(101,243)
Cash flows from financing activities:
Proceeds from the issuance of common stock	25,200	0	0
Proceeds from the issuance of mandatory convertible preferred stock	50,000	0	0
Payment of equity issuance costs	(2,864)	0	0
Mandatory convertible preferred stock dividend	(2,145)	0	0
Shares surrendered in lieu of tax	(936)	(1,156)	(1,033)
Payment for noncontrolling interest	0	(3,375)	0
Payment of contingent consideration	0	(6,000)	(2,000)
Intercompany advances, net		0	0
Proceeds from debt issuance			0
Repayments of long-term debt	0	0	(30,000)
Payments of debt issuance costs	0	0	(1,996)
Net cash provided by (used in) financing activities	69,255	(10,531)	(35,029)
Net increase (decrease) in cash and cash equivalents	21,858	(14,603)	25,838
Cash and cash equivalents at beginning of year	119,691	134,294	108,456
Cash and cash equivalents at end of year	141,549	119,691	134,294
Reportable Legal Entities | Parent
Cash flows from operating activities:
Net income (loss)	(118,701)	(230,814)	(95,073)
Adjustments to reconcile net income (loss):
Depreciation and amortization	0	0	0
Accretion of contingent consideration		0	0
Loss on extinguishment of debt		1,088	0
(Gain) loss on disposition of assets	0	0	0
Deferred tax expense (benefit)	4,785	47,971	(18,715)
Excess tax benefit (expense) from stock-based compensation			(1,045)
Provision for reduction in carrying value of certain assets		0
Expenses not requiring cash	5,651	9,545	7,344
Equity in net earnings of subsidiaries	40,752	94,469	36,631
Change in assets and liabilities:
Accounts and notes receivable	0	0	(33)
Rig materials and supplies	0	0	0
Other current assets	(50,296)	50,296	19,885
Accounts payable and accrued liabilities	(4,393)	(121,016)	10,228
Accrued income taxes	79,319	(10,381)	15,368
Other assets	24,722	(299)	(198,955)
Net cash provided by (used in) operating activities	(58,913)	(159,141)	(224,365)
Cash flows from investing activities:
Capital expenditures	0	0	0
Proceeds from the sale of assets	0	0	0
Proceeds from insurance settlements			0
Acquisitions, net of cash acquired			(3,375)
Divestitures, net of cash paid			0
Net cash provided by (used in) investing activities	0	0	(3,375)
Cash flows from financing activities:
Proceeds from the issuance of common stock	25,200
Proceeds from the issuance of mandatory convertible preferred stock	50,000
Payment of equity issuance costs	(2,864)
Mandatory convertible preferred stock dividend	(2,145)
Shares surrendered in lieu of tax	(936)	(1,156)	(1,033)
Payment for noncontrolling interest		(3,375)
Payment of contingent consideration		0	0
Intercompany advances, net		154,687	298,026
Proceeds from debt issuance			0
Repayments of long-term debt			(30,000)
Payments of debt issuance costs			(1,996)
Net cash provided by (used in) financing activities	69,255	150,156	264,997
Net increase (decrease) in cash and cash equivalents	10,342	(8,985)	37,257
Cash and cash equivalents at beginning of year	65,000	73,985	36,728
Cash and cash equivalents at end of year	75,342	65,000	73,985
Reportable Legal Entities | Guarantor
Cash flows from operating activities:
Net income (loss)	(1,611)	(49,625)	(13,875)
Adjustments to reconcile net income (loss):
Depreciation and amortization	81,260	90,218	95,071
Accretion of contingent consideration		419	826
Loss on extinguishment of debt		0	0
(Gain) loss on disposition of assets	247	565	(439)
Deferred tax expense (benefit)	(7,750)	14,846	11,718
Excess tax benefit (expense) from stock-based compensation			0
Provision for reduction in carrying value of certain assets		0	2,088
Expenses not requiring cash	(218)	(1,624)	854
Equity in net earnings of subsidiaries	0	0	0
Change in assets and liabilities:
Accounts and notes receivable	(16,540)	25,923	61,818
Rig materials and supplies	(760)	(73)	51
Other current assets	34,941	(35,322)	(16,257)
Accounts payable and accrued liabilities	56,354	97,315	(21,396)
Accrued income taxes	(60,882)	(626)	(9,405)
Other assets	(35,829)	101	186,591
Net cash provided by (used in) operating activities	49,212	142,117	297,645
Cash flows from investing activities:
Capital expenditures	(42,990)	(15,384)	(58,817)
Proceeds from the sale of assets	68	437	500
Proceeds from insurance settlements			0
Acquisitions, net of cash acquired			(10,431)
Divestitures, net of cash paid			0
Net cash provided by (used in) investing activities	(42,922)	(14,947)	(68,748)
Cash flows from financing activities:
Proceeds from the issuance of common stock	0
Proceeds from the issuance of mandatory convertible preferred stock	0
Payment of equity issuance costs	0
Mandatory convertible preferred stock dividend	0
Shares surrendered in lieu of tax	0
Payment for noncontrolling interest		0
Payment of contingent consideration		(6,000)	(2,000)
Intercompany advances, net		(120,659)	(226,589)
Proceeds from debt issuance			0
Repayments of long-term debt			0
Payments of debt issuance costs			0
Net cash provided by (used in) financing activities	0	(126,659)	(228,589)
Net increase (decrease) in cash and cash equivalents	6,290	511	308
Cash and cash equivalents at beginning of year	14,365	13,854	13,546
Cash and cash equivalents at end of year	20,655	14,365	13,854
Reportable Legal Entities | Non-Guarantor
Cash flows from operating activities:
Net income (loss)	(39,141)	(44,844)	(21,967)
Adjustments to reconcile net income (loss):
Depreciation and amortization	41,113	49,577	61,123
Accretion of contingent consideration		0	0
Loss on extinguishment of debt		0	0
(Gain) loss on disposition of assets	2,604	1,048	(1,204)
Deferred tax expense (benefit)	2,741	6,245	9,706
Excess tax benefit (expense) from stock-based compensation			0
Provision for reduction in carrying value of certain assets	1,938	0	10,402
Expenses not requiring cash	9,880	(5,403)	(2,062)
Equity in net earnings of subsidiaries	0	0	0
Change in assets and liabilities:
Accounts and notes receivable	13,483	34,468	42,210
Rig materials and supplies	5,470	(1,679)	2,671
Other current assets	14,036	(12,834)	8,920
Accounts payable and accrued liabilities	262,884	4,207	(16,257)
Accrued income taxes	(17,899)	4,585	(13,920)
Other assets	(280,675)	4,095	9,208
Net cash provided by (used in) operating activities	16,434	39,465	88,830
Cash flows from investing activities:
Capital expenditures	(11,543)	(13,570)	(29,380)
Proceeds from the sale of assets	335	2,004	330
Proceeds from insurance settlements			2,500
Acquisitions, net of cash acquired			0
Divestitures, net of cash paid			(2,570)
Net cash provided by (used in) investing activities	(11,208)	(11,566)	(29,120)
Cash flows from financing activities:
Proceeds from the issuance of common stock	0
Proceeds from the issuance of mandatory convertible preferred stock	0
Payment of equity issuance costs	0
Mandatory convertible preferred stock dividend	0
Shares surrendered in lieu of tax	0
Payment for noncontrolling interest		0
Payment of contingent consideration		0	0
Intercompany advances, net		(34,028)	(71,437)
Proceeds from debt issuance			0
Repayments of long-term debt			0
Payments of debt issuance costs			0
Net cash provided by (used in) financing activities	0	(34,028)	(71,437)
Net increase (decrease) in cash and cash equivalents	5,226	(6,129)	(11,727)
Cash and cash equivalents at beginning of year	40,326	46,455	58,182
Cash and cash equivalents at end of year	45,552	40,326	46,455
Eliminations
Cash flows from operating activities:
Net income (loss)	40,752	94,469	36,631
Adjustments to reconcile net income (loss):
Depreciation and amortization	0	0	0
Accretion of contingent consideration		0	0
Loss on extinguishment of debt		0	0
(Gain) loss on disposition of assets	0	0	0
Deferred tax expense (benefit)	0	0	0
Excess tax benefit (expense) from stock-based compensation			0
Provision for reduction in carrying value of certain assets		0
Expenses not requiring cash	(11,062)	0	0
Equity in net earnings of subsidiaries	(40,752)	(94,469)	(36,631)
Change in assets and liabilities:
Accounts and notes receivable	(6,571)	0	0
Rig materials and supplies	0	0	0
Other current assets	0	0	0
Accounts payable and accrued liabilities	(323,559)	0	0
Accrued income taxes	0	0	0
Other assets	300,440	0	0
Net cash provided by (used in) operating activities	0	0	0
Cash flows from investing activities:
Capital expenditures	0	0	0
Proceeds from the sale of assets	0	0	0
Proceeds from insurance settlements			0
Acquisitions, net of cash acquired			0
Divestitures, net of cash paid			0
Net cash provided by (used in) investing activities	0	0	0
Cash flows from financing activities:
Proceeds from the issuance of common stock	0
Proceeds from the issuance of mandatory convertible preferred stock	0
Payment of equity issuance costs	0
Mandatory convertible preferred stock dividend	0
Shares surrendered in lieu of tax	0
Payment for noncontrolling interest		0
Payment of contingent consideration		0	0
Intercompany advances, net		0	0
Proceeds from debt issuance			0
Repayments of long-term debt			0
Payments of debt issuance costs			0
Net cash provided by (used in) financing activities	0	0	0
Net increase (decrease) in cash and cash equivalents	0	0	0
Cash and cash equivalents at beginning of year	0	0	0
Cash and cash equivalents at end of year	$ 0	$ 0	$ 0

Selected Quarterly Financial 76

Selected Quarterly Financial Data - Schedule of Selected Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 116,334	$ 118,308	$ 109,607	$ 98,271	$ 94,025	$ 97,189	$ 105,287	$ 130,503	$ 442,520	$ 427,004	$ 712,183
Operating gross margin (loss)	(4,700)	121	(11,016)	(19,745)	(19,694)	(21,965)	(20,225)	(13,428)	(35,340)	(75,312)	29,699
Operating income (loss)	(14,221)	(6,815)	(17,632)	(27,137)	(30,190)	(29,576)	(28,222)	(23,269)	(65,805)	(111,257)	(17,338)
Net income (loss) attributable to controlling interest	(28,693)	(20,311)	(29,888)	(39,809)	(48,929)	(46,228)	(39,822)	(95,835)	(118,701)	(230,814)	(95,073)
Net income (loss) available to common stockholders	$ (29,599)	$ (21,217)	$ (31,127)	$ (39,809)	$ (48,929)	$ (46,228)	$ (39,822)	$ (95,835)	$ (121,752)	$ (230,814)	$ (95,073)
Basic earnings per share - net income (loss) (in dollars per share)	$ (0.21)	$ (0.15)	$ (0.23)	$ (0.31)	$ (0.39)	$ (0.37)	$ (0.32)	$ (0.78)	$ (0.89)	$ (1.86)	$ (0.78)
Diluted earnings per share - net income (loss) (in dollars per share)	$ (0.21)	$ (0.15)	$ (0.23)	$ (0.31)	$ (0.39)	$ (0.37)	$ (0.32)	$ (0.78)	$ (0.89)	$ (1.86)	$ (0.78)

Recent Accounting Pronounceme77

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefit (expense) from stock-based compensation	$ 0		$ (1,045)
Shares surrendered in lieu of tax	$ 936	$ 1,156	1,033
Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefit (expense) from stock-based compensation		0
Shares surrendered in lieu of tax		$ (1,200)	$ (1,000)

Schedule II - Valuation and Q78

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Allowance for bad debt
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	$ 8,259	$ 8,694	$ 11,188
Charged to cost and expenses	444	1,483	341
Charged to other accounts	(414)	4	(825)
Deductions	(725)	(1,922)	(2,010)
Balance at end of year	7,564	8,259	8,694
Allowance for obsolete rig materials and supplies
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	1,166	626	530
Charged to cost and expenses	65	978	0
Charged to other accounts	0	(3)	236
Deductions	(422)	(435)	(140)
Balance at end of year	809	1,166	626
Deferred tax valuation allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	171,133	51,105	9,922
Charged to cost and expenses	(14,625)	117,707	40,676
Charged to other accounts	1,406	2,321	507
Deductions	0	0	0
Balance at end of year	$ 157,914	$ 171,133	$ 51,105