Parker Drilling (PKDC) 10-K 11 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Mar. 06, 2019	Jun. 30, 2018
Document Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	PKD
Entity Registrant Name	PARKER DRILLING CO /DE/
Entity Central Index Key	0000076321
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 Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,382,493
Entity Public Float			$ 51.3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents		$ 48,602	$ 141,549
Restricted cash		10,389	0
Accounts and Notes Receivable, net of allowance for bad debts of $7,767 at December 31, 2018 and $7,564 at December 31, 2017		136,437	122,511
Rig materials and supplies		36,245	31,415
Deferred costs		4,353	3,145
Other tax assets		2,949	4,889
Other current assets		27,929	14,327
Total current assets		266,904	317,836
Property, plant and equipment, net of accumulated depreciation of $951,798 at December 31, 2018 and $1,343,105 at December 31, 2017 (Note 3)		534,371	625,771
Goodwill (Note 4)		0	6,708
Intangible assets, net (Note 4)		4,821	7,128
Rig materials and supplies		12,971	18,788
Deferred income taxes		2,143	1,284
Other non-current assets		7,204	12,764
Total assets		828,414	990,279
Current Liabilities:
Debtor in possession financing (Note 2)		10,000	0
Accounts payable		39,678	41,523
Accrued liabilities		35,385	57,723
Accrued income taxes		3,385	4,430
Total current liabilities		88,448	103,676
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017		0	577,971
Other long-term liabilities		11,544	12,433
Long-term deferred tax liability		510	78
Commitments and contingencies (Note 9)			0
Total liabilities not subject to compromise		100,502	694,158
Liabilities subject to compromise (Note 2)		600,996	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		500	500
Common Stock, $0.16 2/3 par value, authorized 18,666,667 shares, issued and outstanding, 9,384,669 shares (9,262,382 shares in 2017)	[1]	1,398	1,378
Capital in excess of par value	[1]	766,347	766,508
Accumulated deficit		(634,450)	(468,753)
Accumulated other comprehensive income (loss)		(6,879)	(3,512)
Total stockholders’ equity		126,916	296,121
Total liabilities and stockholders’ equity		$ 828,414	$ 990,279
[1]	See Note 12 - Stockholders' Equity for details regarding the 1-for- 15

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares
Allowance for bad debts | $	$ 7,767	$ 7,564
Accumulated Depreciation | $	951,798	1,343,105
Debt Issuance Cost | $	$ 0	$ 7,029
Preferred stock, par value (in dollars per share) | $ / shares	$ 1	$ 1
Preferred stock, shares authorized	1,942,000	1,942,000
Preferred stock, shares issued	500,000	500,000
Preferred stock, shares outstanding	500,000	500,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.16667	$ 0.16667
Common stock, shares authorized	18,666,667	18,666,667
Common stock, shares issued	9,384,669	9,262,382
Common stock, shares outstanding	9,384,669	9,262,382
Series A Mandatory Convertible Preferred Stock
Preferred stock, stated interest rate	7.25%	7.25%

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS		Jul. 27, 2018	Dec. 31, 2018USD ($)$ / shares	Sep. 30, 2018USD ($)$ / shares	Jun. 30, 2018USD ($)$ / shares	Mar. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares	Sep. 30, 2017USD ($)$ / shares	Jun. 30, 2017USD ($)$ / shares	Mar. 31, 2017USD ($)$ / shares	Dec. 31, 2018USD ($)$ / sharesshares		Dec. 31, 2017USD ($)$ / sharesshares		Dec. 31, 2016USD ($)$ / sharesshares
Income Statement [Abstract]
Revenues			$ 129,148,000	$ 123,395,000	$ 118,603,000	$ 109,675,000	$ 116,334,000	$ 118,308,000	$ 109,607,000	$ 98,271,000	$ 480,821,000		$ 442,520,000		$ 427,004,000
Expenses:
Operating expenses											378,104,000		355,487,000		362,521,000
Depreciation and amortization											107,545,000		122,373,000		139,795,000
Total expenses											485,649,000		477,860,000		502,316,000
Total operating gross margin (loss)			3,815,000	1,932,000	(167,000)	(10,408,000)	(4,700,000)	121,000	(11,016,000)	(19,745,000)	(4,828,000)		(35,340,000)		(75,312,000)
General and administrative expense											(24,545,000)		(25,676,000)		(34,332,000)
Loss on impairment											(50,698,000)		0		0
Provision for reduction in carrying value of certain assets											0		(1,938,000)		0
Gain (loss) on disposition of assets, net											(1,724,000)		(2,851,000)		(1,613,000)
Pre-petition restructuring charges											(21,820,000)		0		0
Reorganization items											(9,789,000)		0
Total operating income (loss)			(31,661,000)	(56,544,000)	(8,933,000)	(16,266,000)	(14,221,000)	(6,815,000)	(17,632,000)	(27,137,000)	(113,404,000)		(65,805,000)		(111,257,000)
Other income (expense):
Interest expense											(42,565,000)		(44,226,000)		(45,812,000)
Interest income											91,000		244,000		58,000
Other											(2,023,000)		126,000		367,000
Total other income (expense)											(44,497,000)		(43,856,000)		(45,387,000)
Income (loss) before income taxes											(157,901,000)		(109,661,000)		(156,644,000)
Current tax expense											8,225,000		9,264,000		5,108,000
Deferred tax expense (benefit)											(429,000)		(224,000)		69,062,000
Total income tax expense (benefit)											7,796,000		9,040,000		74,170,000
Net income (loss)			(43,073,000)	(70,951,000)	(22,877,000)	(28,796,000)	(28,693,000)	(20,311,000)	(29,888,000)	(39,809,000)	(165,697,000)		(118,701,000)		(230,814,000)
Less: Convertible preferred stock dividend											2,719,000		3,051,000		0
Net income (loss) available to common stockholders			$ (43,073,000)	$ (71,857,000)	$ (23,784,000)	$ (29,702,000)	$ (29,599,000)	$ (21,217,000)	$ (31,127,000)	$ (39,809,000)	$ (168,416,000)		$ (121,752,000)		$ (230,814,000)
Basic earnings (loss) per share (in dollars per share) | $ / shares			$ (4.60)	$ (7.70)	$ (2.56)	$ (3.21)	$ (3.20)	$ (2.30)	$ (3.39)	$ (4.59)	$ (18.09)	[1]	$ (13.40)	[1]	$ (27.89)	[1]
Diluted earnings (loss) per share (in dollars per share) | $ / shares			$ (4.60)	$ (7.70)	$ (2.56)	$ (3.21)	$ (3.20)	$ (2.30)	$ (3.39)	$ (4.59)	$ (18.09)	[1]	$ (13.40)	[1]	$ (27.89)	[1]
Number of common shares used in computing earnings per share:
Basic (in shares) | shares	[1]										9,311,722		9,084,456		8,275,334
Diluted (in shares) | shares	[1]										9,311,722		9,084,456		8,275,334
Reverse stock split ratio		15
[1]	See Note 12 - Stockholders' Equity for details regarding the 1-for- 15

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (43,073)	$ (70,951)	$ (22,877)	$ (28,796)	$ (28,693)	$ (20,311)	$ (29,888)	$ (39,809)	$ (165,697)	$ (118,701)	$ (230,814)
Other comprehensive income (loss), net of tax:
Currency translation difference on related borrowings									(646)	643	(691)
Currency translation difference on foreign currency net investments									(2,721)	2,689	(4,265)
Total other comprehensive income (loss), net of tax:									(3,367)	3,332	(4,956)
Comprehensive income (loss) attributable to controlling interest									$ (169,064)	$ (115,369)	$ (235,770)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Cash Flows [Abstract]
Net income (loss)	$ (165,697,000)	$ (118,701,000)	$ (230,814,000)
Adjustments to reconcile net income (loss):
Depreciation and amortization	107,545,000	122,373,000	139,795,000
Accretion on contingent consideration	0	0	419,000
(Gain) loss on debt modification	0	0	1,088,000
Gain (loss) on disposition of assets, net	1,724,000	2,851,000	1,613,000
Deferred tax expense (benefit)	(429,000)	(224,000)	69,062,000
Loss on impairment	50,698,000	0	0
Equity in net earnings of subsidiaries	7,538,000	0	0
Provision for reduction in carrying value of certain assets	0	1,938,000	0
Expenses not requiring cash	5,151,000	4,251,000	2,518,000
Change in assets and liabilities:
Accounts and notes receivable	(15,235,000)	(9,628,000)	60,391,000
Rig materials and supplies	249,000	4,710,000	(1,752,000)
Other current assets	(10,860,000)	(1,319,000)	2,140,000
Other non-current assets	13,019,000	8,658,000	3,897,000
Accounts payable and accrued liabilities	(9,489,000)	(8,714,000)	(19,494,000)
Accrued income taxes	(1,264,000)	538,000	(6,422,000)
Net cash provided by (used in) operating activities	(17,050,000)	6,733,000	22,441,000
Cash flows from investing activities:
Capital expenditures	(70,567,000)	(54,533,000)	(28,954,000)
Proceeds from the sale of assets	1,353,000	403,000	2,441,000
Net cash provided by (used in) investing activities	(69,214,000)	(54,130,000)	(26,513,000)
Cash flows from financing activities:
Proceeds from borrowing under DIP facility	10,000,000	0	0
Payment of DIP facility costs	(975,000)	0	0
Convertible preferred stock dividend	(3,625,000)	(2,145,000)	0
Payments of debt issuance costs	(1,443,000)	0	0
Shares surrendered in lieu of tax	(251,000)	(936,000)	(1,156,000)
Proceeds from the issuance of common stock	0	25,200,000	0
Proceeds from the issuance of convertible preferred stock	0	50,000,000	0
Payment of equity issuance costs	0	(2,864,000)	0
Payment of contingent consideration	0	0	(6,000,000)
Payment for noncontrolling interest	0	0	(3,375,000)
Net cash provided by (used in) financing activities	3,706,000	69,255,000	(10,531,000)
Net increase (decrease) in cash, cash equivalents and restricted cash	(82,558,000)	21,858,000	(14,603,000)
Cash, cash equivalents and restricted cash at beginning of period	141,549,000	119,691,000	134,294,000
Cash, cash equivalents and restricted cash at end of period	58,991,000	141,549,000	119,691,000
Supplemental cash flow information:
Interest paid	41,175,000	41,175,000	41,175,000
Income taxes paid	8,625,000	8,422,000	14,341,000
Restructuring costs paid	$ 6,638,000	$ 0	$ 0

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands		Total	Convertible Preferred Stock	Common Stock	Convertible Preferred Stock	Convertible Preferred StockConvertible Preferred Stock	Common Stock	Common StockCommon Stock	Treasury Stock	Capital in Excess of Par Value	Capital in Excess of Par ValueConvertible Preferred Stock	Capital in Excess of Par ValueCommon Stock	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning Balances at Dec. 31, 2015		$ 568,512			$ 0		$ 1,373		$ (170)	$ 688,435			$ (119,238)	$ (1,888)
Balances (in shares) at Dec. 31, 2015	[1]	8,214
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity in employees’ stock plans		$ (1,156)					21			(1,177)
Activity in employees' stock plans (in shares)	[1]	127
Amortization of stock-based awards		$ 7,549								7,549
Comprehensive Income:
Net income (loss)		(230,814)											(230,814)
Other comprehensive income (loss)		(4,956)												(4,956)
Ending Balances at Dec. 31, 2016		$ 339,135			0		1,394		(170)	694,807			(350,052)	(6,844)
Balances (in shares) at Dec. 31, 2016	[1]	8,341
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity in employees’ stock plans		$ (936)					20			(956)
Activity in employees' stock plans (in shares)	[1]	121
Amortization of stock-based awards		$ 4,006								4,006
Issuance of common stock and issuance of mandatory convertible preferred stock			$ 48,277	$ 24,059		$ 500		$ 134			$ 47,777	$ 23,925
Issuance of common stock and issuance of mandatory convertible preferred stock (in shares)	[1]		500	800
Convertible preferred stock dividend		(3,051)								(3,051)
Comprehensive Income:
Net income (loss)		(118,701)											(118,701)
Other comprehensive income (loss)		3,332												3,332
Ending Balances at Dec. 31, 2017		$ 296,121			500		1,548		(170)	766,508			(468,753)	(3,512)
Balances (in shares) at Dec. 31, 2017	[1]	9,762
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity in employees’ stock plans		$ (255)					20			(275)
Activity in employees' stock plans (in shares)	[1]	123
Amortization of stock-based awards		$ 2,833								2,833
Convertible preferred stock dividend		(2,719)								(2,719)
Comprehensive Income:
Net income (loss)		(165,697)											(165,697)
Other comprehensive income (loss)		(3,367)												(3,367)
Ending Balances at Dec. 31, 2018		$ 126,916			$ 500		$ 1,568		$ (170)	$ 766,347			$ (634,450)	$ (6,879)
Balances (in shares) at Dec. 31, 2018	[1]	9,885
[1]	See Note 12 - Stockholders' Equity for details regarding the 1-for- 15

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1 - Summary of Significant Accounting Policies Organization and Nature of Operations Parker Drilling Company, incorporated in Delaware, and its wholly-owned subsidiaries (“Parker Drilling” or the “Company” or “we” or “us” or “our”) is an international provider of contract drilling and drilling-related services as well as rental tools and services. 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. Basis of Presentation The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and are audited. In the opinion of Parker Drilling, these consolidated financial statements include all adjustments which, unless otherwise disclosed, are of a normal recurring nature, necessary for their fair presentation for the periods presented. 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 50.0 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. Use of Estimates The preparation of our consolidated financial statements in accordance with 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 consolidated 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, self-insured medical/dental plans, impairment, 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. Revenue Recognition See Note 14 - Revenue from Contracts with Customers for further discussion of our revenue recognition policy. Goodwill 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 that indicate that the fair value of the reporting unit has decreased below its carrying value. In order to estimate the fair value of the reporting unit, the Company used a weighting of the discounted cash flow, guideline public company and guideline transaction method. The Company engages third-party appraisal firms to assist in f air value determination of the reporting unit. The quantitative impairment test we perform for goodwill utilizes certain assumptions, including forecasted revenues and costs assumptions. See Note 4 - Goodwill and Intangible Assets for further discussion. Intangible Assets Our intangible assets are related to developed technology and trade names, 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 4 - Goodwill and Intangible Assets for further discussion. Cash, Cash equivalents and Restricted Cash 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. December 31, Dollars in thousands 2018 2017 Cash and cash equivalents $ 48,602 $ 141,549 Restricted cash 10,389 — Cash, cash equivalents and restricted cash at end of period $ 58,991 $ 141,549 The restricted cash balance includes $9.8 million into a cash collateral account to support the letters of credit outstanding and $0.6 million held as compensating balances in the ordinary course of business for purchases and utilities. 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 2018 2017 Trade $ 144,204 $ 130,075 Allowance for bad debt (1) (7,767 ) (7,564 ) Total accounts and notes receivable, net of allowance for bad debt $ 136,437 $ 122,511 (1) Additional information on the allowance for bad debt for the years ended December 31, 2018 , 2017 and 2016 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: Computer, office equipment and other 3 to 10 years 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. Capitalized interest costs were $0.1 million during 2018 . During 2017 and 2016 capitalized interest costs were nominal and $0.2 million , 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 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 affecting 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 50.0 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 (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, assumed conversion of convertible 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 2018 , our largest customer, Exxon Neftegas Limited (“ ENL ”), constituted approximately 25.7 percent of our consolidated revenues. Excluding revenues from reimbursable cost (“reimbursable revenues”) of $47.2 million , ENL constituted approximately 17.9 percent of our total consolidated revenues. As of December 31, 2018 and 2017 , we had deposits in domestic banks in excess of federally insured limits of approximately $27.5 million and $97.6 million , respectively. In addition, we had uninsured deposits in foreign banks as of December 31, 2018 and 2017 of $32.9 million and $45.6 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, time-based phantom stock units, performance cash units, and performance-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 Investigative Matters We accrue estimates of the probable and estimable costs for the resolution of certain legal and investigative 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. Reverse Stock Split On July 27, 2018, the Company’s 1-for- 15 reverse stock split of its common stock became effective. Unless otherwise indicated, all common share and per common share data have been retroactively restated for all periods presented. The reverse stock split did not affect the par value of the common stock. Shareholders who otherwise would have been entitled to receive a fractional share of common stock as a result of the reverse stock split received cash in lieu of such fractional share. The Company’s 7.25% Series A Mandatory Convertible Preferred Stock (“Convertible Preferred Stock”) was not subject to the reverse stock split, as proportionate adjustments were made to the minimum and maximum conversion rates of the Convertible Preferred Stock. Bankruptcy On December 12, 2018 (the “Petition Date”), the Company and certain of its U.S. subsidiaries (collectively, the “Debtors”) filed a prearranged plan of reorganization (the “Plan”) and commenced voluntary Chapter 11 proceedings (the “Chapter 11 Cases”) under title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Bankruptcy Court”). The consolidated financial statements included herein have been prepared as if we were a going concern and in accordance with Financial Accounting Standards Board (“ FASB ”) Accounting Standards Codification (“ ASC ”) Topic No. 852 - Reorganizations. See Note 2 - Chapter 11 Cases

Chapter 11 Cases

Chapter 11 Cases	12 Months Ended
	Dec. 31, 2018
Reorganizations [Abstract]
Chapter 11 Cases	Note 2 - Chapter 11 Cases On the Petition Date, the Debtors filed the Plan and commenced the Chapter 11 Cases under title 11 of the Bankruptcy Code in the Bankruptcy Court. Since the commencement of the Chapter 11 Cases, the Debtors have continued to operate their businesses as “ debtors-in-possession ” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. In addition to Parker Drilling, the U.S. subsidiaries included as debtors in the Chapter 11 Cases are 2M-TEK, Inc., Anachoreta, Inc., Pardril, Inc., Parker Aviation Inc., Parker Drilling Arctic Operating, LLC, Parker Drilling Company North America, Inc., Parker Drilling Company of Niger, Parker Drilling Company of Oklahoma, Incorporated, Parker Drilling Company of South America, Inc., Parker Drilling Management Services, Ltd., Parker Drilling Offshore Company, LLC, Parker Drilling Offshore USA, L.L.C., Parker North America Operations, LLC, Parker Technology, Inc., Parker Technology, L.L.C., Parker Tools, LLC, Parker-VSE, LLC, Quail Tools, L.P., and Quail USA, LLC. Since the commencement of the Chapter 11 Cases , the Debtors have continued to operate their businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. Restructuring Support Agreement On December 12, 2018, prior to the commencement of the Chapter 11 Cases , the Debtors entered into a restructuring support agreement (as amended, the “RSA”) with certain significant holders (together, collectively, the “Consenting Stakeholders”) of (i) 7.50% Senior Notes due 2020 (the “ 7.50% Note Holders”) issued pursuant to the indenture dated July 30, 2013 (the “ 7.50% Notes”), by and among Parker Drilling, the subsidiary guarantors party thereto and Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), (ii) 6.75% Senior Notes due 2022 (the “ 6.75% Note Holders”) issued pursuant to the indenture dated January 22, 2014 (the “ 6.75% Notes” and together with the 7.50% Notes, the “Senior Notes”), by and among Parker Drilling, the subsidiary guarantors party thereto and the Trustee, (iii) Parker Drilling’s existing common stock (the “Common Holders”) and (iv) Parker Drilling’s 7.25% Series A Mandatory Convertible Preferred Stock (the “Convertible Preferred Stock,” and such holders, the “Preferred Holders”) to support a restructuring (the “Restructuring”) on the terms set forth in the Plan. On December 13, 2018, the Bankruptcy Court entered an order approving joint administration of the Chapter 11 Cases under the caption In re Parker Drilling Company, et al . Pursuant to the terms of the RSA and the Plan, the Consenting Stakeholders and other holders of claims against or interests in the Debtors receive treatment under the Plan summarized as follows: • holders of claims arising from non-funded debt general unsecured obligations receive payment in full in cash as set forth in the Plan; • the 7.50% Note Holders receive their pro rata share of: (a) approximately 34.3 percent of the common stock (the “New Common Stock”) of Parker Drilling, as reorganized pursuant to and under the Plan (“Reorganized Parker”), subject to dilution; (b) approximately $92.6 million of a new second lien term loan of Reorganized Parker (the “New Second Lien Term Loan”); (c) the right to purchase approximately 24.3 percent of the New Common Stock to be issued pursuant to the terms of the Rights Offering (as defined in the RSA); and (d) cash sufficient to satisfy certain expenses owed to the Trustee (the “Trustee Expenses”), to the extent not otherwise paid by the Debtors; • the 6.75% Note Holders receive their pro rata share of: (a) approximately 62.9 percent of the New Common Stock, subject to dilution; (b) approximately $117.4 million of the New Second Lien Term Loan; (c) the right to purchase approximately 38.9 percent of the New Common Stock to be issued pursuant to the terms of the Rights Offering; and (d) cash sufficient to satisfy the Trustee Expenses, to the extent not otherwise paid by the Debtors; • the Preferred Holders receive their pro rata share of: (a) 1.1 percent of the New Common Stock, subject to dilution; (b) the right to purchase approximately 14.7 percent of the New Common Stock to be issued pursuant to the terms of the Rights Offering; and (c) 40.0 percent of the warrants to acquire an aggregate of 13.5 percent of the New Common Stock (the “New Warrants”); and • the Common Holders receive their Pro Rata share of: (a) 1.65 percent of the New Common Stock, subject to dilution; (b) the right to purchase approximately 22.1 percent of the New Common Stock to be issued pursuant to the terms of the Rights Offering; and (c) 60.0 percent of the New Warrants. The RSA contains certain covenants on the part of each of the Debtors and the Consenting Stakeholders, including certain limitations on the parties’ ability to pursue alternative transactions, commitments by the Consenting Stakeholders to vote in favor of the Plan and commitments of the Debtors and the Consenting Stakeholders to negotiate in good faith to finalize the documents and agreements governing the Plan. The RSA also provides for certain conditions to the obligations of the parties and for termination upon the occurrence of certain events, including, without limitation, the failure to achieve certain milestones and certain breaches by the parties under the RSA. Since the Petition Date , the Debtors have requested and received certain approvals and authorizations from the Bankruptcy Court. This relief, together with the proposed treatment under the Plan, provides that vendors and other unsecured creditors will be paid in full and in the ordinary course of business. All existing customer and vendor contracts are expected to remain in place and be serviced in the ordinary course of business. On March 5, 2019, the Bankruptcy Court held a hearing to determine whether the Plan should be confirmed. On March 7, 2019, the Bankruptcy Court entered an order confirming the Plan. Although the Bankruptcy Court has confirmed the Plan, the Debtors have not yet consummated all of the transactions that are contemplated by the Plan. Rather, the Debtors intend to consummate these transactions, on or before the Plan’s effective date (the “Effective Date”). As set forth in the Plan, there are certain conditions precedent to the occurrence of the Effective Date, which must be satisfied or waived in accordance with the Plan in order for the Plan to become effective and the Debtors to emerge from the Chapter 11 Cases. On the Effective Date, the Debtors’ operations will, generally, no longer be governed by the Bankruptcy Court's oversight. Debtor-in-Possession Financing In connection with the Chapter 11 Cases , Bank of America, N.A. (“Bank of America”) and Deutsche Bank AG New York Branch (“DB”) agreed to provide the Debtors with a superpriority and priming asset-based debtor-in-possession credit facility (the “DIP Facility”) on the terms set forth in the Debtor-In-Possession Financing Term Sheet attached to the RSA (the “DIP Term Sheet”). On December 14, 2018, the Debtors, Bank of America and DB entered into a Debtor-in-Possession Credit Agreement (the “DIP Credit Agreement”), which provides for, among other things, the DIP Facility. The DIP Facility is comprised of an asset-based revolving loan facility in an aggregate principal amount of $50.0 million , subject to availability under the borrowing base thereunder, $20.0 million of which DIP Facility is available for the issuance of standby letters of credit. The borrowing base is equal to: (1) 85.0 percent of the aggregate net amount of eligible domestic accounts receivable, plus (2) the lowest of: (a) 90.0 percent of net book value of eligible rental equipment (b) 60.0 percent of net equipment orderly liquidation value of eligible rental equipment; or (c) $37.5 million minus certain reserves, calculated as set forth in the DIP Credit Agreement. The borrowing base under the DIP Facility was calculated to be $50.0 million at the time of effectiveness of the DIP Facility, which was reduced by $10.0 million of outstanding loans under the DIP Facility as of December 31, 2018 and accrued interest on the debtor-in-possession financing, resulting in availability under the DIP Facility of $40.0 million . In connection with the Chapter 11 Cases , (i) Bank of America and DB agreed to provide, on a committed basis, the Company with an exit financing asset-based revolving loan facility on the terms set forth in the Senior Secured Asset-Based Revolving Facility Summary of Terms and Conditions attached to the RSA (the “First Lien Exit Term Sheet”) and (ii) certain Consenting Stakeholders and/or their affiliates have agreed to provide, on a committed basis, the Company with a new second lien term loan facility on the terms set forth in the New Second Lien Loan Term Sheet attached to the RSA (the “Second Lien Exit Term Sheet”). The First Lien Exit Term Sheet provides for, among other things, an asset-based revolving credit facility in an aggregate principal amount of $50.0 million , which amount may be increased to an aggregate principal amount of $100.0 million in the event additional commitments are received from other lenders (the “First Lien Exit Facility”). A portion of the First Lien Exit Facility in the amount of $30.0 million (the “L/C Facility”) will be available for the issuance of standby and commercial letters of credit. Letters of credit outstanding under the DIP Facility may be rolled over and deemed outstanding under the L/C Facility. The Second Lien Exit Term Sheet provides for, among other things, a second lien term loan facility in an aggregate principal amount of $210.0 million (the “Second Lien Exit Facility”). Backstop Commitment Agreement On December 12, 2018, Parker entered into a Backstop Commitment Agreement (as amended and restated from time to time, the “Backstop Commitment Agreement”) with the Commitment Parties (as defined in the Backstop Commitment Agreement), pursuant to which the Commitment Parties agreed to backstop the Rights Offering. In accordance with the Plan and certain Rights Offering procedures (filed with the Bankruptcy Court on the Petition Date) , Parker will grant the 7.50% Note Holders, the 6.75% Note Holders, the Preferred Holders, and the Common Holders, including the Commitment Parties, the right to purchase shares of New Common Stock (the “Rights Offering Shares”) upon the closing of the transactions contemplated by the Backstop Commitment Agreement for an aggregate purchase price of $95.0 million . Under the Backstop Commitment Agreement, the Commitment Parties agreed to purchase any Rights Offering Shares that are not duly subscribed for pursuant to the Rights Offering at the Per Share Purchase Price (as defined in the Backstop Commitment Agreement). Under the Backstop Commitment Agreement, Parker has paid the Commitment Parties a cash put option premium of $7.6 million (the “Put Option Cash Premium”) and an advance for estimated professional fees of the Commitment Parties. If the closing of the Backstop Commitment Agreement occurs, the Put Option Cash Premium will be remitted to Parker in exchange for 3.4 percent of New Common Stock (the “Put Option Equity Premium”). In certain circumstances where the Backstop Commitment Agreement has been terminated or the transactions contemplated thereby are not consummated, the Commitment Parties will be entitled to keep the Put Option Cash Premium. The Put Option Cash Premium has been paid, and the Put Option Equity Premium shall be issued, in each case, to the Commitment Parties pro rata based on the amount of their respective backstop commitments. The rights to purchase New Common Stock in the Rights Offering, any shares issued upon the exercise thereof, and all shares issued to the Commitment Parties in respect of their backstop commitments pursuant to the Put Option Equity Premium will be issued in reliance upon the exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to section 1145 of the Bankruptcy Code. All shares issued to the Commitment Parties pursuant to the Backstop Commitment Agreement in respect of their respective commitments will be issued in reliance upon the exemption from registration under the Securities Act provided by Section 4(a)(2) thereof and/or Regulation D thereunder. As a condition to the closing of the transactions contemplated by the Backstop Commitment Agreement, Parker will enter into a registration rights agreement with the Commitment Parties desiring to be a party thereto requiring Parker to register the Commitment Parties’ securities under the Securities Act. The Commitment Parties’ commitments to backstop the Rights Offering and the other transactions contemplated by the Backstop Commitment Agreement are conditioned upon satisfaction of all applicable conditions set forth in the Backstop Commitment Agreement. The issuances of New Common Stock pursuant to the Rights Offering and the Backstop Commitment Agreement are conditioned upon, among other things, the occurrence of the Effective Date. Chapter 11 Accounting The consolidated financial statements included herein have been prepared as if we were a going concern and in accordance with FASB ASC Topic No. 852 - Reorganizations. Going Concern Weak industry conditions have negatively impacted our results of operations and cash flows and may continue to do so in the future. In order to decrease the Company’s level of indebtedness and maintain the Company’s liquidity at levels sufficient to meet its commitments, the Company undertook a number of actions, including minimizing capital expenditures and further reducing its recurring operating expenses. The Company believes that even after taking these actions, it would not have sufficient liquidity to satisfy its debt service obligations, meet other financial obligations and comply with its debt covenants. As a result, the Debtors filed petitions for reorganization under Chapter 11 of the Bankruptcy Code. Industry conditions and the risks and uncertainties associated with the Chapter 11 proceedings, raise substantial doubt about our ability to continue as a going concern. The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles which contemplate the continuation of the Company as a going concern. The Chapter 11 reorganization plan supports our going concern assessment. Pre-petition restructuring charges Any expenses, gains and losses that are realized or incurred before the Petition Date and in relation to the Chapter 11 Cases are recorded under pre-petition restructuring charges on our consolidated statements of operations. Pre-petition restructuring charges were $21.8 million for the year ended December 31, 2018 , which primarily consisted of professional fees related to the Chapter 11 Cases . Reorganization items Any expenses, gains and losses that are realized or incurred subsequent to and as a direct result of the Chapter 11 Cases are recorded under reorganization items on our consolidated statements of operations. Reorganization items were $9.8 million for the year ended December 31, 2018 , which consisted of: Dollars in thousands December 31, 2018 6.75% Senior Notes, due July 2022 - unamortized debt issuance costs $ 3,775 7.50% Senior Notes, due August 2020 - unamortized debt issuance costs 1,580 2015 Secured Credit Agreement - unamortized debt issuance costs 1,208 Professional fees 2,251 DIP facility costs 975 Reorganization items $ 9,789 Debtor in possession financing Amounts borrowed against the DIP Facility as of December 31, 2018 were $10.0 million . Liabilities subject to compromise Pre-petition unsecured and under-secured obligations that may be impacted by the Chapter 11 Cases have been classified as liabilities subject to compromise on our consolidated balance sheet. These liabilities are reported at the amounts expected to be allowed as claims by the Bankruptcy Court, although they may be settled for less. Liabilities subject to compromise as of December 31, 2018 were $601.0 million , which consisted of: Dollars in thousands December 31, 2018 6.75% Senior Notes, due July 2022 $ 360,000 7.50% Senior Notes, due August 2020 225,000 Accrued interest on Senior Notes 15,996 Liabilities subject to compromise $ 600,996 The principal balance on the 6.75% Notes and 7.50% Notes of $360.0 million and $225.0 million has been reclassed from long-term debt to liabilities subject to compromise as of December 31, 2018 . See also Note 6 - Debt for further details. Accrued interest on the 6.75% Notes and 7.50% Notes was also reclassed from accrued liabilities to liabilities subject to compromise as of December 31, 2018 . Contractual interest expense on our Senior Notes amounts to $41.2 million for the year ended December 31, 2018 which is in excess of $39.1 million included in interest expense on the consolidated statements of operations because the Company has discontinued accruing interest on the Petition Date in accordance with FASB ASC Topic No. 852 - Reorganizations. We have not made any interest payments on our 6.75% Notes or 7.50% Notes since the commencement of the Chapter 11 Cases . Convertible preferred stock dividend We have not declared or made any cash dividend payments on our 7.25% Series A Mandatory Convertible Preferred Stock since the commencement of the Chapter 11 Cases . We may issue additional equity securities which may dilute current equity interests. Debtor Financial Statements Following are the consolidated financial statements of the entities included in the Chapter 11 Cases : PARKER DRILLING COMPANY (DEBTOR IN POSSESSION) CONSOLIDATED BALANCE SHEET (Dollars in Thousands) (Unaudited) December 31, 2018 ASSETS Current assets: Cash and cash equivalents $ 15,226 Restricted cash 10,389 Accounts and Notes Receivable, net of allowance for bad debts of $808 at December 31, 2018 (1) 223,296 Rig materials and supplies 1,650 Deferred costs 975 Other tax assets 183,356 Other current assets 18,329 Total current assets 453,221 Property, plant and equipment, net of accumulated depreciation of $526,166 at December 31, 2018 369,510 Intangible assets, net 4,821 Rig materials and supplies 7,036 Deferred income taxes 23,576 Intra-group advances 549,460 Investment in subsidiaries 893,550 Other non-current assets 1,452 Total assets $ 2,302,626 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities: Debtor in possession financing $ 10,000 Accounts payable (2) 286,840 Accrued liabilities 28,184 Accrued income taxes 204,518 Total current liabilities 529,542 Other long-term liabilities (3) 728,218 Long-term deferred tax liability 36,463 Total liabilities not subject to compromise 1,294,223 Liabilities subject to compromise 600,996 Total stockholders’ equity 407,407 Total liabilities and stockholders’ equity $ 2,302,626 (1) Includes intra-group receivables in the amount of $174.7 million . (2) Includes intra-group payables in the amount of $213.2 million . (3) Includes intra-group liabilities in the amount of $314.6 million . PARKER DRILLING COMPANY (DEBTOR IN POSSESSION) CONSOLIDATED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2018 Revenues $ 203,585 Expenses: Operating expenses 115,269 Depreciation and amortization 76,353 191,622 Total operating gross margin (loss) 11,963 General and administrative expense (23,539 ) Loss on impairment (40,917 ) Gain (loss) on disposition of assets, net (1,347 ) Pre-petition restructuring charges (21,820 ) Reorganization items (9,789 ) Total operating income (loss) (85,449 ) Other income (expense): Interest expense (45,488 ) Interest income 1,152 Other 6 Equity in net earnings of subsidiaries (33,040 ) Total other income (expense) (77,370 ) Income (loss) before income taxes (162,819 ) Income tax expense (benefit): Current tax expense 1,517 Deferred tax expense (benefit) 1,361 Total income tax expense (benefit) 2,878 Net income (loss) (165,697 ) Less: Convertible preferred stock dividend 2,719 Net income (loss) attributable to debtor entities $ (168,416 ) PARKER DRILLING COMPANY (DEBTOR IN POSSESSION) CONSOLIDATED STATEMENT OF CASH FLOWS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2018 Cash flows from operating activities: Net income (loss) $ (165,697 ) Adjustments to reconcile net income (loss): Depreciation and amortization 76,353 Gain (loss) on disposition of assets, net 1,347 Deferred tax expense (benefit) 1,361 Loss on impairment 40,917 Reorganization items 7,538 Expenses not requiring cash 4,224 Equity in net earnings of subsidiaries 33,040 Change in assets and liabilities: Accounts and notes receivable (2,189 ) Rig materials and supplies (4,454 ) Other current assets (41,564 ) Other non-current assets 2,586 Accounts payable and accrued liabilities (559 ) Accrued income taxes 29,818 Net cash provided by (used in) operating activities (17,279 ) Cash flows from investing activities: Capital expenditures (56,897 ) Proceeds from the sale of assets 87 Net cash provided by (used in) investing activities (56,810 ) Cash flows from financing activities: Proceeds from borrowing under DIP facility 10,000 Payment of DIP facility costs (975 ) Convertible preferred stock dividend (3,625 ) Payments of debt issuance costs (1,443 ) Shares surrendered in lieu of tax (251 ) Net cash provided by (used in) financing activities 3,706 Net increase (decrease) in cash and cash equivalents (70,383 ) Cash, cash equivalents and restricted cash at beginning of period 95,998 Cash, cash equivalents and restricted cash at end of period $ 25,615

Property Plant and Equipment

Property Plant and Equipment	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 3 - Property, Plant and Equipment The components of our property, plant and equipment balance are as follows: December 31, Dollars in Thousands 2018 2017 Property, plant and equipment, at cost: Drilling equipment $ 720,037 $ 1,228,443 Rental tools 581,107 552,461 Building, land and improvements 58,193 60,309 Other 115,977 115,910 Construction in progress 10,855 11,753 Total property, plant and equipment, at cost 1,486,169 1,968,876 Less: Accumulated depreciation and amortization 951,798 1,343,105 Property, plant, and equipment, net $ 534,371 $ 625,771 Depreciation expense was $105.2 million , $119.6 million and $136.3 million for the years ended December 31, 2018 , 2017 , and 2016 During the third quarter of 2018, we noted that historically, our barge rig utilization has trended closely with oil prices in periods of both decline and recovery. Management determined the divergence between oil prices and utilization for our Gulf of Mexico inland barge and International barge asset groups necessitated performance of a recoverability analysis for these two asset groups. Average quarterly oil prices have increased sequentially beginning in the third quarter of 2017, reaching an average quarterly 3-year high in the third quarter of 2018, while our utilization remained flat for the nine months ending September 30, 2018 as compared to the year ended December 31, 2018. Based upon our recoverability analysis, where the carrying values exceeded both estimated future undiscounted cash flows and a subsequent aggregate fair value determination based upon a cost approach method, we determined the Gulf of Mexico inland barge and International barge asset groups were impaired. The significant unobservable inputs to the cost approach method included replacement costs and remaining economic life. See also Note 7 - Fair Value Measurements . We estimated the fair values to be $19.7 million and $3.4 million for the Gulf of Mexico inland barge asset group and the International barge asset group, respectively. We recognized a pretax impairment loss of approximately $44.0 million in total, or $34.2 million and $9.8 million for the Gulf of Mexico inland barge asset group and the International barge asset group, respectively, for the year ended December 31, 2018 . The Gulf of Mexico inland barge asset group is reported as part of the U.S. (Lower 48) Drilling segment and the International barge asset group is reported as part of the International & Alaska Drilling segment. Provision for reduction in carrying value of certain assets No provision for reduction in carrying value was identified during the year ended year ended December 31, 2018 . We recorded a provision of $1.9 million for reduction in carrying value of assets for the year ended December 31, 2017 During the normal course of operations, we periodically sell equipment deemed excess, obsolete, or not currently required for operations. Net losses recorded on asset disposition were $1.7 million and $2.9 million for the years ended December 31, 2018 and December 31, 2017 , respectively. The net loss for 2018 was primarily related to equipment that was deemed obsolete in the International & Alaska Drilling segment and U.S. Rental Tools segment. The net loss for 2017

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 4 - Goodwill and Intangible Assets 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 that indicate that the fair value of the reporting unit has decreased below its carrying value. As a result of our 2018 annual goodwill impairment analysis, we determined that the carrying value of the 2MTek reporting unit exceeded its fair value and, therefore, the entire goodwill balance was impaired and written off. The impairment resulted due to the transfer of 2MTek reporting unit from International Rental Tools segment to the U.S. Rental Tools segment. Goodwill impairment is recorded in the loss on impairment line item in the consolidated statement of operations for the year ended December 31, 2018 . All of the Company’s goodwill and intangible assets are allocated to the U.S. Rental Tools segment. Goodwill The change in the carrying amount of goodwill for the year ended December 31, 2018 is as follows: Dollars in thousands Goodwill Balance at December 31, 2017 $ 6,708 Goodwill impairment (6,708 ) Balance at December 31, 2018 $ — 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, 2018 Dollars in thousands Estimated Useful Life (Years) Gross Carrying Amount Write-off Due to Sale Accumulated Amortization Net Carrying Amount Developed technology 6 $ 11,630 $ — $ (7,269 ) $ 4,361 Trade Names 5 4,940 (332 ) (4,148 ) 460 Total intangible assets $ 16,570 $ (332 ) $ (11,417 ) $ 4,821 Amortization expense was $2.3 million , $2.8 million , and $3.5 million for the year ended December 31, 2018 , 2017 , and 2016 respectively. Our remaining intangibles amortization expense for the next five years is presented below: Dollars in thousands Expected future intangible amortization expense 2019 $ 2,306 2020 $ 2,030 2021 $ 485 2022 $ — Beyond 2022 $ —

Supplementary Accrued Liabiliti

Supplementary Accrued Liabilities Information	12 Months Ended
	Dec. 31, 2018
Additional Financial Information Disclosure [Abstract]
Supplementary Accrued Liabilities Information	Note 5 - Supplementary Accrued Liabilities Information The significant components of accrued liabilities on our consolidated balance sheets as of December 31, 2018 and 2017 are presented below: Year Ended December 31, Dollars in Thousands 2018 2017 Accrued liabilities: Accrued payroll & related benefits $ 20,736 $ 27,252 Accrued interest expense 32 18,169 Accrued professional fees & other 9,578 7,888 Deferred mobilization fees 4,082 3,149 Workers’ compensation liabilities, net 957 1,265 Total accrued liabilities $ 35,385 $ 57,723

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt	Note 6 - Debt The following table illustrates the Company’s debt portfolio as of December 31, 2018 and December 31, 2017 : December 31, Dollars in thousands 2018 2017 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 ) Total debt $ 585,000 $ 577,971 6.75% Senior Notes, due July 2022 On January 22, 2014, we issued $360.0 million aggregate principal amount of 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 Indenture”). 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 guaranteed 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 were approximately $7.6 million . Unamortized debt issuance costs were $3.8 million prior to the commencement of the Chapter 11 Cases . After the commencement of the Chapter 11 Cases , the carrying amount of debt was adjusted to the claim amount and all unamortized debt issuance costs prior to the commencement of the Chapter 11 Cases were fully expensed. We may redeem all or a part of the 6.75% Notes upon appropriate notice at redemption prices decreasing each year after January 15, 2018 to par beginning January 15, 2020. As of December 31, 2018 , the redemption price is 103.4 percent and 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 6.75% Notes 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 6.75% Notes 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 Indenture”). 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 guaranteed 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 were approximately $5.6 million . Unamortized debt issuance costs were $1.6 million prior to the commencement of the Chapter 11 Cases . After the commencement of the Chapter 11 Cases , the carrying amount of debt was adjusted to the claim amount and all unamortized debt issuance costs prior to the commencement of the Chapter 11 Cases were fully expensed. Beginning August 1, 2018, we may redeem all or a part of the 7.50% Notes upon appropriate notice at par. 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 7.50% Notes 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 7.50% Notes Indenture contains certain restrictive covenants designating certain events as events of default. These covenants are subject to a number of important exceptions and qualifications. The commencement of the Chapter 11 Cases constituted an event of default that accelerated the Company’s obligations under the indenture governing the 6.75% Notes and the 7.50% Notes. However, any efforts to enforce such payment obligations are automatically stayed under the provisions of the Bankruptcy Code. The principal balance on the 6.75% Notes and 7.50% Notes of $360.0 million and $225.0 million has been reclassed from long-term debt to liabilities subject to compromise as of December 31, 2018 . See also Note 2 - Chapter 11 Cases for further details. 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 $200.0 million revolving credit facility (the “Revolver”). 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. We executed various amendments prior to February 14, 2018, which reduced the size of the Revolver from $200.0 million to $100.0 million . 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 structure and reduced the size of the Revolver from $100.0 million to $80.0 million . The Fifth Amendment eliminated the financial maintenance covenants previously in effect and replaced them with a liquidity covenant of $30.0 million and a monthly borrowing base calculation based on eligible rental equipment and eligible domestic accounts receivable. The liquidity covenant required the Company to maintain a minimum of $30.0 million of liquidity (defined as availability under the borrowing base and cash on hand), of which $15.0 million was restricted, resulting in a maximum availability at any one time of the lesser of (a) an amount equal to our borrowing base minus $15.0 million , or (b) $65.0 million . Our ability to borrow under the 2015 Secured Credit Agreement was determined by reference to our borrowing base. The Fifth Amendment also allowed for refinancing our existing Senior Notes with either secured or unsecured debt, added the ability for the Company to designate certain of its subsidiaries as “Designated Borrowers” and removed our ability to make certain restricted payments. On July 12, 2018, we executed the Sixth Amendment to the 2015 Secured Credit Agreement (the “Sixth Amendment”) which permitted the Company to make Restricted Payments (as defined in the 2015 Secured Credit Agreement) in the form of certain Equity Interests (as defined in the 2015 Secured Credit Agreement). On October 25, 2018, we entered into a Consent Agreement and a Cash Collateral Agreement, whereby we could open bank accounts not subject to the 2015 Secured Credit Agreement for the purpose of depositing cash to secure certain Letters of Credit. On October 30, 2018, we deposited $10.0 million into a cash collateral account to support the letters of credit outstanding, which is included in the restricted cash balance on the consolidated balance sheet. Our obligations under the 2015 Secured Credit Agreement were 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 were 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 certain payments of dividends). Our Revolver was available for general corporate purposes and to support letters of credit. Interest on Revolver loans accrued at either: • Base Rate plus an Applicable Rate or • LIBOR plus an Applicable Rate. All of the Company’s obligations under the 2015 Secured Credit Agreement were paid prior to the commencement of the Chapter 11 Cases , and the 2015 Secured Credit Agreement, including the Revolver thereunder, was terminated concurrently with the commencement of the Chapter 11 Cases . See also Note 2 - Chapter 11 Cases for further details. Unamortized debt issuance costs of $1.2 million

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 7 - Fair Value Measurements 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 FASB 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 condensed balance sheets for cash and cash equivalents, restricted cash, 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, 2018 December 31, 2017 Dollars in thousands Carrying Amount Fair Value Carrying Amount Fair Value Debt 6.75% Notes $ 360,000 $ 180,000 $ 360,000 $ 296,100 7.50% Notes 225,000 117,000 225,000 206,438 Total $ 585,000 $ 297,000 $ 585,000 $ 502,538 During the year, Property, Plant and Equipment for the Gulf of Mexico inland barge and International barge asset groups was impaired and written down to their estimated fair values. The estimated fair value was determined using Level 3 inputs. See Note 3 - Property, Plant and Equipment for further details. 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, 2018

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 8 - Income Taxes On December 22, 2017 the United States enacted the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act included significant changes to U.S. corporate income tax laws, the most notable of which was a reduction in the U.S. corporate income tax rate from 35.0 percent to 21.0 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 35.0 percent to 21.0 percent, the Company remeasured certain U.S. deferred tax assets and liabilities as of December 31, 2017 . 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 did not incur 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. Income (loss) before income taxes is summarized below: Year Ended December 31, Dollars in thousands 2018 2017 2016 United States $ (145,954 ) $ (89,233 ) $ (131,106 ) Foreign (11,947 ) (20,428 ) (25,538 ) Income (loss) before income taxes $ (157,901 ) $ (109,661 ) $ (156,644 ) Income tax expense (benefit) is summarized as follows: Year Ended December 31, Dollars in thousands 2018 2017 2016 Current tax expense Federal $ (14 ) $ 80 $ (1,921 ) State 229 54 (9 ) Foreign 8,010 9,130 7,038 Total current tax expense $ 8,225 $ 9,264 $ 5,108 Deferred tax expense (benefit) Federal $ — $ 167 $ 64,066 State — — (47 ) Foreign (429 ) (391 ) 5,043 Total deferred tax expense (benefit) $ (429 ) $ (224 ) $ 69,062 Total income tax expense (benefit) $ 7,796 $ 9,040 $ 74,170 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, 2018 2017 2016 Dollars in thousands Amount % of Pre-Tax Income Amount % of Pre-Tax Income Amount % of Pre-Tax Income Computed expected tax expense $ (33,160 ) 21.0 % $ (38,381 ) 35.0 % $ (54,825 ) 35.0 % Foreign taxes 7,321 (4.6 )% 13,084 (11.9 )% 12,688 (8.1 )% Tax effect different from statutory rates (68 ) — % (2,048 ) 1.9 % (3,629 ) 2.3 % State taxes, net of federal benefit (2,552 ) 1.6 % 35 — % (849 ) 0.5 % Foreign tax credits — — % 3 — % 20 — % Change in valuation allowance (excluding impact of Tax Act) 28,353 (18.0 )% 30,704 (28.0 )% 117,707 (75.1 )% Uncertain tax positions (221 ) 0.1 % 194 (0.2 )% (726 ) 0.5 % Permanent differences 8,008 (5.1 )% 2,970 (2.7 )% 1,442 (0.9 )% Prior year return to provision adjustments 50 — % 2,442 (2.3 )% 2,078 (1.3 )% Other 65 0.1 % 37 — % 264 (0.2 )% 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 % — — % Income tax expense (benefit) $ 7,796 (4.9 )% $ 9,040 (8.2 )% $ 74,170 (47.3 )% The components of the Company’s deferred tax assets and liabilities as of December 31, 2018 and 2017 are shown below: December 31, Dollars in thousands 2018 2017 Deferred tax assets Deferred tax assets: Federal net operating loss carryforwards $ 109,002 $ 95,867 State net operating loss carryforwards 13,168 11,089 Excess interest 6,230 — Other state deferred tax asset, net 1,201 626 Foreign tax credits 46,913 46,913 FIN 48 887 953 Foreign tax 40,190 36,699 Accruals not currently deductible for tax purposes 3,119 2,926 Deferred compensation 816 1,204 Other 1,297 74 Total deferred tax assets 222,823 196,351 Valuation allowance (186,267 ) (157,914 ) Net deferred tax assets, net of valuation allowance $ 36,556 $ 38,437 Deferred tax liabilities: Deferred tax liabilities: Property, plant and equipment $ (28,440 ) $ (30,648 ) Foreign tax local (510 ) (78 ) Other state deferred tax liability, net (5,096 ) (5,174 ) Intangibles (877 ) (1,331 ) Total deferred tax liabilities (34,923 ) (37,231 ) Net deferred tax asset $ 1,633 $ 1,206 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, 2018 based on the cumulative weight of positive and negative evidence that exists as of the date of the consolidated 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, 2018 and prospectively may change. The 2018 results include an increase in our valuation allowance of $28.4 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 2017 results include an increase in our valuation allowance of $14.6 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, 2018 $ (5,395 ) Reductions based on tax positions taken during a prior period 190 Additions based on tax positions taken during the current period (523 ) Balance at December 31, 2018 $ (5,728 ) 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, 2018 : Kazakhstan 2008-present Mexico 2014-present Russia 2014-present United States — Federal 2009-present United Kingdom 2015-present As of December 31, 2018 , we had a liability for unrecognized tax benefits of $5.7 million ( all of which, if recognized, would favorably impact our effective tax rate), on which no payments were made during 2018 . The Company recognized interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2018 and December 31, 2017 we had approximately $2.1 million and $2.1 million of accrued interest and penalties related to uncertain tax positions, respectively. We recognized a $0.1 million increase in interest and $0.1 million decrease in penalties on unrecognized tax benefits for the year ended December 31, 2018 . As of December 31, 2018

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9 - 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, 2018 , under operating leases with non-cancelable terms are as follows: Dollars in Thousands Year Ended 2019 $ 10,722 2020 7,887 2021 4,193 2022 1,968 2023 1,540 Thereafter 636 Total $ 26,946 Total rent expense for all operating leases amounted to $21.2 million , $23.8 million and $21.8 million for the years then ended December 31, 2018 , 2017 , and 2016 , 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 $0.3 million for worker’s compensation and employer’s liability, and $0.5 million 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. We also assume retention for foreign casualty exposures of $0.1 million for workers’ compensation, employers’ liability, and $1.0 million for general liability losses. We do not have any 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, 2018 and 2017 , our gross self-insurance accruals for workers’ compensation, employers’ liability, general liability, protection and indemnity and maritime employers’ liability totaled $2.4 million and $3.2 million , respectively and the related insurance recoveries/receivables were $1.6 million and $1.9 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 balance sheet or consolidated statement of cash flows, although they could have a material adverse effect on our consolidated statement of operations for a particular reporting period. Any claims filed, or to be filed in relation to the Chapter 11 Cases

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Note 10 - 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 2017, he was re-elected to another three-year term and Mr. Parker has continued to serve as a member Chairman of the Company’s board of directors since then. Mr. Parker was paid $0.3 million in 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. No such payments were made in 2018. Other Transactions 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 $0.1 million to each employee in January 2017. No such payments were made in 2018. In 2015, one of our directors acquired $0.6 million aggregate principal amount of our 7.50% Notes and $0.7 million aggregate principal amount of our 6.75%

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Stock-Based Compensation	Note 11 - 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 1,120,000 shares of common stock. As of December 31, 2018 there were 252,072 shares remaining available under the Stock Plan. See Note 12 - Stockholders' Equity for details regarding the 1-for- 15 reverse stock split. 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. Stock-based compensation expense and cash compensation paid to the respective employees is included in our consolidated statements of operations in general and administrative expense. Tax deduction benefits for awards in excess of recognized compensation costs are reported as a financing cash flow. In 2018 , we issued three types of stock-based awards: 1. Restricted stock units are service-based awards and entitle a grantee to receive a share of common stock on a specified vesting date. The grant-date fair value of nonvested units is determined based on the closing trading price of the Company’s shares on the grant date. These awards vest to the extent earned at the end of a three -year performance period. These awards are expensed ratably over the applicable vesting period and are settled in shares of our common stock upon vesting. These awards are considered equity awards. 2. Time-based phantom stock units are service-based awards and represent the equivalent of one share of common stock as of the grant date. The value of these awards is based on the common stock price. These awards vest when earned at the end of the performance period which is generally 1 to 3 years. These awards are expensed ratably over the applicable vesting period and are settled in cash upon vesting. These awards are classified as liability awards. 3. Performance-based phantom stock units are performance-based awards and we issued two types of performance-based awards: a. Performance cash units 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 over a three-year performance period. Each unit has a nominal value of $100.0 . A maximum of 200.0 percent of the number of units granted may be earned if performance at the maximum level is achieved. These awards vest to the extent earned at the end of a three -year performance period. These awards are expensed ratably over the applicable vesting period and are settled in cash upon vesting. These awards are classified as liability awards. b. 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 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 250.0 percent of the number of units granted may be earned if performance at the maximum level is achieved. These awards vest to the extent earned at the end of the three -year performance period. These awards are expensed ratably over the applicable vesting period and are settled in cash upon vesting. These awards are classified as liability awards. Restricted Stock Units The following table presents restricted stock units granted, vested and forfeited during 2018 under the Stock Plan: Restricted Stock Units Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 302,338 $ 27.10 Granted 107,863 $ 12.51 Vested (156,524 ) $ 29.87 Forfeited (18,079 ) $ 23.82 Nonvested at December 31, 2018 235,598 $ 18.84 In 2018 , 2017 and 2016 we issued 107,863 units, 180,728 units, and 219,742 u nits, respectively, to select key personnel. The per-share weighted-average grant-date fair value of units granted during 2018 , 2017 , and 2016 was $12.51 , $21.19 , and $31.06 , respectively. Total expense recognized relating to these awards for the years ended December 31, 2018 , 2017 , and 2016 was $2.8 million , $4.0 million , and $7.5 million , respectively, all of which was related to nonvested units. The total fair value of the units vested during the years ended December 31, 2018 , 2017 , and 2016 was $4.7 million , $8.6 million , and $10.0 million , respectively. Nonvested units as of December 31, 2018 totaled 235,598 and total unrecognized compensation cost related to unamortized units was $1.4 million as of December 31, 2018 . The remaining unrecognized compensation cost related to non-vested units will be amortized over a weighted-average vesting period of approximately 27 months. Time-based Phantom Stock Units The following table presents time-based phantom stock units granted, vested, and forfeited during 2018 under the Stock Plan: Time-based Phantom Stock Units Nonvested at January 1, 2018 68,759 Granted 106,530 Vested (28,387 ) Forfeited (4,117 ) Nonvested at December 31, 2018 142,785 In 2018 , 2017 and 2016 we issued 106,530 units, 43,245 units, and 79,248 units, respectively, to select key personnel. Total expense recognized relating to these awards for the year ended December 31, 2018 was a gain of $0.3 million , and expense recognized for the years ended 2017 and 2016 was no minal and $1.4 million , respectively. Performance Cash Units The following table presents performance cash units granted, vested, and forfeited during 2018 under the Stock Plan: Performance Cash Units Nonvested at January 1, 2018 23,021 Granted 16,149 Vested (10,771 ) Forfeited (791 ) Nonvested at December 31, 2018 27,608 In 2018 , 2017 , and 2016 we issued 16,149 units, 14,153 units, and 17,091 units, respectively, to select key personnel. Total expense recognized relating to these awards for the years ended December 31, 2018 , 2017 , and 2016 was $0.2 million , $1.0 million , and $2.3 million , respectively. Performance-based Phantom Stock Units The following table presents performance-based phantom stock units granted, vested, and forfeited during 2018 under the Stock Plan: Performance-based Phantom Stock Units Nonvested at January 1, 2018 87,395 Granted 107,645 Vested (48,937 ) Forfeited (3,778 ) Nonvested at December 31, 2018 142,325 In 2018 , 2017 , and 2016 we issued 107,645 units, 44,020 units, and 77,652 units, respectively, to select key personnel. Total expense recognized relating to these awards for the years ended December 31, 2018 , 2017 , and 2016 was a gain of $0.6 million , gain of $0.9 million , and an expense of $1.3 million

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Stockholders' Equity	Note 12 - Stockholders' Equity Stock Issuance In February 2017, we issued 800,000 shares (on a post-split basis or 12,000,000 shares on pre-split basis) of common stock, par value $0.16 2 / 3 per share, at the public offering price of $2.1 per share, and 500,000 shares of the Convertible Preferred Stock, par value $1.0 per share, with a liquidation preference of $100.0 per share, for total net proceeds of $72.3 million , after underwriting discount and offering expenses. Unless converted earlier, each share of our Convertible Preferred Stock will automatically convert into between 2.8 and 3.2 shares (on a post-split basis) 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 2.8 shares (on a post-split basis) of common stock per share of Convertible Preferred Stock, subject to anti-dilution adjustments. Dividends The dividends on our Convertible Preferred Stock are 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 $100.0 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. On February 28, 2018, the Company declared a cash dividend of $1.8125 per share of our Convertible Preferred Stock for the period beginning on December 31, 2017 and ending on March 30, 2018, which was paid on April 2, 2018 to holders of record of the Convertible Preferred Stock as of March 15, 2018. On May 10, 2018, the Company declared a cash dividend of $1.8125 per share of our Convertible Preferred Stock for the period beginning on March 31, 2018 and ending on June 29, 2018, which was paid on July 2, 2018 to holders of record of the Convertible Preferred Stock as of June 15, 2018. On August 23, 2018, the Company declared a cash dividend of $1.8125 per share of our Convertible Preferred Stock for the period beginning on June 30, 2018 and ending on September 29, 2018, which was paid on September 28, 2018 to holders of record of the Convertible Preferred Stock as of September 15, 2018. We have not declared or made any cash dividend payments on the Convertible Preferred Stock since the commencement of the Chapter 11 Cases . Rights Plan On July 12, 2018, the Board of Directors of the Company declared a dividend of one right (“Right”) for each outstanding share of common stock to common stockholders of record at the close of business on July 27, 2018, which was amended by the Board of Directors on August 23, 2018 (the “Rights Plan”). On August 23, 2018, our Board of Directors approved an amendment and restatement of the Rights Plan, dated as of July 12, 2018, between the Company and Equiniti Trust Company, as rights agent (as amended and restated, the “Section 382 Rights Plan”). The purpose of the Section 382 Rights Plan is to protect value by preserving the Company’s ability to use its net operating losses and foreign tax credits (“Tax Benefits”). Each Right entitles the registered holder to purchase from the Company a unit consisting of one one-thousandth of a share (a “Fractional Share”) of Series A Junior Participating Preferred Stock, par value $1.0 per share, at a purchase price of $52.5 per Fractional Share, subject to adjustment. Initially, the Rights are attached to all outstanding shares of common stock. The Rights will separate from the common stock and a “Distribution Date” will occur, with certain exceptions, upon the earlier of (i) 10 days following a public announcement that a person or group of affiliated or associated persons (an “Acquiring Person”) has acquired, or obtained the right to acquire, beneficial ownership of 4.9 percent or more of the outstanding shares of common stock, or (ii) 10 business days following the commencement of a tender offer or exchange offer that would result in a person’s becoming an Acquiring Person. Each person or group of affiliated or associated persons that was a beneficial owner of 4.9 percent or more of the outstanding shares of common stock at the time of the adoption of the Section 382 Rights Plan was grandfathered in at its then-current ownership level, but the Rights will become exercisable if at any time after the adoption of the Section 382 Rights Plan, such person or group increases its ownership of common stock by one share or more. Any person or group of affiliated or associated persons who proposes to acquire 4.9 percent or more of the outstanding shares of common stock may apply to our Board of Directors in advance for an exemption. The Rights are not exercisable until the Distribution Date and will expire at the earliest of (i) the close of business on August 23, 2021, (ii) the redemption or exchange of the Rights by the Company, (iii) the date on which our Board of Directors determines that the Rights Plan is no longer necessary for the preservation of a material Tax Benefit, (iv) the beginning of a taxable year of the Company for which our Board of Directors determines that no Tax Benefits may be carried forward, (v) July 12, 2019, if the affirmative vote of the majority of the Company’s stockholders has not been obtained with respect to ratification of the Rights Plan, and (vi) the occurrence of a “qualifying offer” (as described in the Section 382 Rights Plan). If the rights become exercisable, each holder other than the Acquiring Person (and certain related parties) will be entitled to acquire shares of common stock at a 50.0 percent discount or the Company may exchange each right held by such holders for two shares of common stock. Reverse Stock Split On July 27, 2018, the Company’s 1-for- 15

Earnings (Loss) Per Share (EPS)

Earnings (Loss) Per Share (EPS)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Earnings (Loss) Per Share (EPS)	Note 13 - 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, unvested restricted stock, convertible debt and equity are included in the diluted EPS calculation, when applicable. Note 12 - Stockholders' Equity for details regarding the 1-for- 15 reverse stock split. The following table represents the computation of earnings per share for the twelve months ended December 31, 2018 , 2017 , and 2016 respectively: Year ended December 31, Dollars in thousands, except per share amounts 2018 2017 2016 Basic EPS Numerator Net income (loss) available to common stockholders (numerator) $ (168,416 ) $ (121,752 ) $ (230,814 ) Denominator Weighted average shares outstanding 9,311,722 9,084,456 8,275,334 Number of shares used for basic EPS computation 9,311,722 9,084,456 8,275,334 Basic earnings (loss) per common share $ (18.09 ) $ (13.40 ) $ (27.89 ) Year ended December 31, Dollars in thousands, except per share amounts 2018 2017 2016 Diluted EPS Numerator Net income (loss) available to common stockholders (numerator) $ (168,416 ) $ (121,752 ) $ (230,814 ) Denominator Number of shares used for basic EPS computation 9,311,722 9,084,456 8,275,334 Restricted stock units (1) — — — Convertible preferred stock (2) — — — Number of shares used for diluted EPS computation 9,311,722 9,084,456 8,275,334 Diluted earnings (loss) per common share $ (18.09 ) $ (13.40 ) $ (27.89 ) (1) For each of the years ended December 31, 2018 , 2017 , and 2016 , 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 totaling 1,587,300

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Note 14 - Revenue from Contracts with Customers We adopted the Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) effective January 1, 2018, using the modified retrospective implementation method. Accordingly, we have applied the five-step method outlined in Topic 606 for determining when and how revenue is recognized to all contracts that were not completed as of the date of adoption. Revenues for reporting periods beginning as of January 1, 2018 are presented under Topic 606, while prior period amounts have not been adjusted and continue to be reported under the previous revenue recognition guidance. For contracts that were modified before the effective date, we have considered the modification guidance within the new standard and determined that the revenue recognized and contract balances recorded prior to adoption for such contracts were not impacted. While Topic 606 requires additional disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, its adoption has not had a material impact on the measurement or recognition of our revenues. As part of the adoption, no adjustments were needed to the consolidated balance sheets, statements of operations and statements of cash flows. Our business is comprised of two business lines: (1) Drilling Services and (2) Rental Tools Services. See Note 16 - Reportable Segments for further details on these business lines and revenue disaggregation amounts. Our drilling and rental tools services provided under each contract is a single performance obligation satisfied over time and comprised of a series of distinct time increments, or service periods. Total revenue is determined for each individual contract by estimating both fixed and variable consideration expected to be earned over the contract term. Fixed consideration generally relates to activities that are not distinct within the context of our contracts and is recognized on a straight-line basis over the contract term. Variable consideration generally relates to distinct service periods during the contract term and are recognized in the period when the services are performed. Our contract terms generally range from 2 to 60 months. The amount estimated for variable consideration may be constrained (reduced) and is only recognized as revenue to the extent that it is probable that a significant reversal of previously recognized revenue will not occur during the contract term. When determining if variable consideration should be constrained, management considers whether there are factors outside the Company’s control that could result in a significant reversal of revenue as well as the likelihood and magnitude of a potential reversal of revenue. These estimates are re-assessed each reporting period as required. Accounts receivable are recognized when the right to consideration becomes unconditional based upon contractual billing schedules. Payment terms on invoiced amounts are typically 30 days. Drilling Services Business Dayrate Revenues Our drilling services contracts generally provide for payment on a dayrate basis, with higher rates for periods when the drilling unit is operating and lower rates or zero rates for periods when drilling operations are interrupted or restricted. The dayrate invoices billed to the customer are typically determined based on the varying rates applicable to the specific activities performed on an hourly basis. Such dayrate consideration is allocated to the distinct hourly increment to which it relates within the contract term, and therefore, recognized in line with the contractual rate billed for the services provided for any given hour. Mobilization Revenues We may receive fees (on either a fixed lump-sum or variable dayrate basis) for the mobilization of our rigs. These activities are not considered to be distinct within the context of the contract and therefore, the associated revenues are allocated to the overall performance obligation and recognized ratably over the initial term of the related drilling contract. We record a contract liability for mobilization fees received, which is amortized ratably to revenue as services are rendered over the initial term of the related drilling contract. The amortized amount is adjusted accordingly if the term of the initial contract is extended. Capital Modification Revenues We may, from time to time, receive fees from our customers for capital improvements to our rigs to meet contractual requirements (on either a fixed lump-sum or variable dayrate basis). Such revenues are allocated to the overall performance obligation and recognized ratably over the initial term of the related drilling contract as these activities are not considered to be distinct within the context of our contracts. We record a contract liability for such fees and recognize them ratably as revenue over the initial term of the related drilling contract. Demobilization Revenues We may receive fees (on either a fixed lump-sum or variable dayrate basis) for the demobilization of our rigs. Due to the inherent uncertainty regarding the realization, we have elected to not recognize demobilization revenues until the uncertainty is resolved. Therefore, demobilization revenues are recognized once the related performance obligations have been completed. Reimbursable Revenues We generally receive reimbursements from our customers for the purchase of supplies, equipment, personnel services and other services provided at their request in accordance with a drilling contract or other agreement. Such reimbursable revenues are variable and subject to uncertainty, as the amounts received and timing thereof is highly dependent on factors outside of our control. Accordingly, reimbursable revenues are not included in the total transaction price until the uncertainty is resolved, which typically occurs when the related costs are incurred on behalf of a customer. We are generally considered a principal in such transactions and record the associated revenues at the gross amount billed to the customer in our consolidated statements of operations. Such amounts are recognized once the services have been performed. Such amounts totaled $54.6 million , $57.8 million and $69.3 million for the year ended December 31, 2018 , 2017 and 2016 respectively. Rental Tools Services Business Dayrate Revenues Our rental tools services contracts generally provide for payment on a dayrate basis depending on the rate for the tool defined in the contract. Such dayrate consideration is allocated to the distinct hourly increment it relates to within the contract term, and therefore, recognized in line with the contractual rate billed for the services provided for any given hour. Contract Costs The following is a description of the different costs that we may incur for our contracts: Mobilization Costs These costs include certain direct and incremental costs incurred for mobilization of contracted rigs. These costs relate directly to a contract, enhance resources of the Company that will be used in satisfying its performance obligations in the future and are expected to be recovered. These costs are capitalized when incurred as a current or non-current asset (depending on the length of the initial contract term), and are amortized over the initial term of the related drilling contract. Current and non-current capitalized mobilization costs are included in other current assets and other non-current assets, respectively, on our consolidated balance sheet. The balance for capitalized mobilization costs was $5.3 million and $3.1 million as of December 31, 2018 and December 31, 2017 , respectively. There was no impairment loss in relation to capitalized costs. Amortization of capitalized mobilization costs was $6.7 million and $1.2 million for the year ended December 31, 2018 and 2017 , respectively. Demobilization Costs These costs are incurred for the demobilization of rigs at contract completion and are recognized as incurred during the demobilization process. Capital Modification Costs These costs are incurred for rig modifications or upgrades required for a contract, which are considered to be capital improvements, are capitalized as property, plant and equipment and depreciated over the estimated useful life of the improvement. Contract Liabilities The following table provides information about contract liabilities from contracts with customers: Dollars in thousands December 31, 2018 December 31, 2017 Contract liabilities - current (Deferred revenue) (1) $ 4,081 $ 1,581 Contract liabilities - non-current (Deferred revenue) (1) 2,441 1,568 Total contract liabilities $ 6,522 $ 3,149 (1) Contract liabilities - current and contract liabilities - non-current are included in accounts payable and accrued liabilities and other long-term liabilities respectively, in our consolidated condensed balance sheet as of December 31, 2018 and December 31, 2017 . Contract liabilities relate to mobilization revenues and capital modification revenues, where, we have unconditional right to cash or cash has been received but performance obligations have not been fulfilled. These liabilities are reduced and revenue is recognized as performance obligations are fulfilled. Significant changes to contract liabilities balances during the year ended December 31, 2018 are shown below: Dollars in thousands Contract Liabilities Balance at December 31, 2017 $ (3,149 ) Decrease due to recognition of revenue 4,879 Increase to deferred revenue during current period (8,252 ) Balance at December 31, 2018 $ (6,522 ) Transaction price allocated to the remaining performance obligations The following table includes deferred revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. Balance at December 31, 2018 Dollars in thousands 2019 2020 2021 Beyond 2022 Total Deferred revenue $ 4,071 $ 898 $ 872 $ 681 $ 6,522 The revenues included above consist of mobilization and capital modification revenues for both wholly and partially unsatisfied performance obligations, which have been estimated for purposes of allocating across the entire corresponding performance obligations. The amounts are derived from the specific terms within contracts that contain such provisions, and the expected timing for recognition of such revenue is based on the estimated start date and duration of each respective contract based on information known at December 31, 2018

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2018
Postemployment Benefits [Abstract]
Employee Benefit Plan	Note 15 - Employee Benefit Plan The Company sponsors a defined contribution 401(k) plan (the “401(k) 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 2018 and 2017 the Company matched 25.0 percent of each participant’s pre-tax contributions in an amount not exceeding 6.0 percent of the participant’s compensation, up to the maximum amount of contributions allowed by law. The costs of matching contributions to the 401(k) Plan were $0.6 million , $0.7 million and $1.1 million in 2018 , 2017 and 2016 , respectively. 401(k) Plan participants hired prior to July 2017 become 100.0 percent vested immediately in the Company’s matching contributions, and 401(k) 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, 2018
Segment Reporting [Abstract]
Reportable Segments	Note 16 - 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 globally. 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 or 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, commissioning of customer-owned drilling rig projects, operations execution, and quality and safety management. 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. We also provide O&M services for a customer-owned rig offshore California. Our GOM barge rigs 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. 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. We have rigs under contract in Alaska, Kazakhstan, the Kurdistan region of Iraq, Guatemala, Mexico, and on Sakhalin Island, Russia. In addition, we have O&M and ongoing project-related services for customer-owned rigs in California, Kuwait, Canada, Indonesia, 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 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 whipstocks, fishing and related services, as well as 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 maintains an inventory of rental tools for deepwater, drilling, completion, workover, and production applications at facilities in Louisiana, Texas, Wyoming, North Dakota and West Virginia. We also provide well construction and well intervention services. 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 supplies tubular goods and other equipment to offshore GOM customers. International Rental Tools Our International Rental Tools segment maintains an inventory of rental tools and provides well construction, well intervention, and surface and tubular services to our customers in the Middle East, Latin America, Europe, and Asia-Pacific regions. The following table represents the results of operations by reportable segment: Year Ended December 31, Dollars in thousands 2018 2017 2016 Revenues: (1) U.S. (Lower 48) Drilling $ 11,729 $ 12,389 $ 5,429 International & Alaska Drilling 213,411 247,254 287,332 Total Drilling Services 225,140 259,643 292,761 U.S. Rental Tools 176,531 121,937 71,613 International Rental Tools 79,150 60,940 62,630 Total Rental Tools Services 255,681 182,877 134,243 Total revenues $ 480,821 $ 442,520 $ 427,004 Operating gross margin: (2) U.S. (Lower 48) Drilling $ (15,720 ) $ (20,656 ) $ (34,353 ) International & Alaska Drilling (21,936 ) (6,248 ) 9,272 Total Drilling Services (37,656 ) (26,904 ) (25,081 ) U.S. Rental Tools 44,512 15,651 (22,372 ) International Rental Tools (11,684 ) (24,087 ) (27,859 ) Total Rental Tools Services 32,828 (8,436 ) (50,231 ) Total operating gross margin (loss) (4,828 ) (35,340 ) (75,312 ) General and administrative expense (24,545 ) (25,676 ) (34,332 ) Loss on impairment (50,698 ) — — Provision for reduction in carrying value of certain assets — (1,938 ) — Gain (loss) on disposition of assets, net (1,724 ) (2,851 ) (1,613 ) Pre-petition restructuring charges (21,820 ) — — Reorganization items (9,789 ) — — Total operating income (loss) (113,404 ) (65,805 ) (111,257 ) Interest expense (42,565 ) (44,226 ) (45,812 ) Interest income 91 244 58 Other (2,023 ) 126 367 Income (loss) before income taxes $ (157,901 ) $ (109,661 ) $ (156,644 ) (1) For the years ended December 31, 2018 , 2017 , and 2016 , our largest customer, ENL , constituted approximately 25.7 percent , 31.3 percent , and 38.7 percent , respectively, of our total consolidated revenues and approximately 58 percent , 55.9 percent , and 57.5 percent , respectively, of our International & Alaska Drilling segment revenues. Excluding reimbursable revenues of $47.2 million , $50.8 million , and $67.0 million , ENL constituted approximately 17.9 percent , 22.7 percent , and 27.5 percent , respectively, of our total consolidated revenues and approximately 48.0 percent , 46.1 percent , and 45.0 percent , respectively of our International & Alaska Drilling segment revenues. (2) Operating gross margin is calculated as revenues less direct operating expenses, including depreciation and amortization expense. Other business segment information The following table represents capital expenditures and depreciation and amortization by reportable segment: Year Ended December 31, Dollars in thousands 2018 2017 2016 Capital expenditures: U.S. (Lower 48) Drilling $ 444 $ 230 $ 264 International & Alaska Drilling 7,444 3,673 5,258 U.S. Rental Tools 55,545 39,948 10,848 International Rental Tools 6,275 8,584 9,725 Corporate 859 2,098 2,859 Total capital expenditures $ 70,567 $ 54,533 $ 28,954 Depreciation and amortization: (1) U.S. (Lower 48) Drilling $ 7,758 $ 13,521 $ 20,049 International & Alaska Drilling 36,072 46,950 55,236 U.S. Rental Tools 48,167 43,489 43,769 International Rental Tools 15,548 18,413 20,741 Total depreciation and amortization $ 107,545 $ 122,373 $ 139,795 (1) For presentation purposes, for the years then ended December 31, 2018 , 2017 and 2016 depreciation for corporate assets of $8.4 million , $8.7 million , and $8.3 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 2018 2017 U.S. (Lower 48) Drilling $ 30,283 $ 62,980 International & Alaska Drilling 366,856 421,753 U.S. Rental Tools 216,123 198,664 International Rental Tools 146,471 168,511 Total identifiable assets 759,733 851,908 Corporate 68,681 138,371 Total assets $ 828,414 $ 990,279 Geographic information The following table represents selected geographic information : Year Ended December 31, Dollars in Thousands 2018 2017 2016 Revenues: United States $ 207,612 $ 177,630 $ 127,596 Russia 123,767 139,144 142,538 EMEA & Asia 92,568 64,572 79,870 Latin America 14,631 11,594 12,952 Other CIS 13,703 23,768 33,659 Other (1) 28,540 25,812 30,389 Total revenues $ 480,821 $ 442,520 $ 427,004 Long-lived assets: (1) United States $ 369,106 $ 429,374 EMEA & Asia 89,696 108,621 Latin America 36,656 38,959 Other CIS 21,949 29,402 Russia 16,964 19,415 Total long-lived assets $ 534,371 $ 625,771 (1)

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	Note 17 - Selected Quarterly Financial Data (Unaudited) 2018 Year Dollars in thousands, except per share data First Quarter Second Quarter Third Quarter Fourth Quarter Total Revenues $ 109,675 $ 118,603 $ 123,395 $ 129,148 $ 480,821 Operating gross margin (loss) $ (10,408 ) $ (167 ) $ 1,932 $ 3,815 $ (4,828 ) Operating income (loss) $ (16,266 ) $ (8,933 ) $ (56,544 ) $ (31,661 ) $ (113,404 ) Net income (loss) $ (28,796 ) $ (22,877 ) $ (70,951 ) $ (43,073 ) $ (165,697 ) Net income (loss) available to common stockholders $ (29,702 ) $ (23,784 ) $ (71,857 ) $ (43,073 ) $ (168,416 ) Basic earnings (loss) per common share (1) (2) $ (3.21 ) $ (2.56 ) $ (7.70 ) $ (4.60 ) $ (18.09 ) Diluted earnings (loss) per common share (1) (2) $ (3.21 ) $ (2.56 ) $ (7.70 ) $ (4.60 ) $ (18.09 ) 2017 Year Dollars in thousands, except per share data First Quarter Second Quarter Third Quarter Fourth Quarter Total 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) $ (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 (loss) per common share (1) (2) $ (4.59 ) $ (3.39 ) $ (2.30 ) $ (3.20 ) $ (13.40 ) Diluted earnings (loss) per common share (1) (2) $ (4.59 ) $ (3.39 ) $ (2.30 ) $ (3.20 ) $ (13.40 ) (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. (2) See Note 12 - Stockholders' Equity for details regarding the 1-for- 15

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Note 18 - Recent Accounting Pronouncements Standards recently adopted In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU supersedes the revenue recognition requirements in FASB ASC Topic No. 605 - Revenue Recognition and most industry-specific guidance throughout the Codification. 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. Effective January 1, 2018, we adopted ASU 2014-09 using the modified retrospective approach and it did not have a material impact on our consolidated balance sheets, statement of operations, and statements of cash flows. See Note 14 - Revenue from Contracts with Customers for further details. Standards not yet adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU 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. Under the updated accounting standard, we have determined that our drilling contracts contain a lease component. In July 2018, the FASB issued ASU 2018-11 which 1) provides for a new transition method whereby entities may elect to adopt the update using a prospective with cumulative catch-up approach and 2) provides lessors with an option to not separate non-lease components from the associated lease components when certain criteria are met and requires them to account for the combined component in accordance with the new revenue standard if the associated non-lease components are the predominant components. We adopted ASU 2016-02 on January 1, 2019 using modified retrospective transition method applied at the beginning of the period of adoption. We have elected certain available practical expedients. 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 balance sheets, statements of operations, statements of cash flows and on the disclosures contained in our notes to the consolidated financial statements upon the adoption of ASU 2016-02. While, the Company continues to evaluate all of the effects of the adoption of this ASU, the Company believes the most significant effects relate to (i) the recognition of new right-of-use assets and lease liabilities on the condensed consolidated balance sheet for the Company’s operating leases and (ii) providing significant new disclosures about the Company’s leasing activities. Depending on the results of the evaluation, our ultimate conclusions may vary. With respect to leases whereby we are the lessee, we expect to recognize lease liabilities and offsetting right of use assets of between $15 million and $25 million

Parent, Guarantor, Non-Guaranto

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Financial Statements (Unaudited)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Parent, Guarantor, Non-Guarantor Unaudited Consolidating Financial Statements (Unaudited)	Note 19 - Parent, Guarantor, Non-Guarantor Unaudited Consolidating Financial Statements (Unaudited) 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 100.0 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, 2018 and December 31, 2017 and for the years ended December 31, 2018 , 2017 , and 2016 CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) December 31, 2018 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 5,905 $ 9,321 $ 33,376 $ — $ 48,602 Restricted cash 10,389 — — — 10,389 Accounts and notes receivable, net — 48,598 87,839 — 136,437 Rig materials and supplies — 1,650 34,002 593 36,245 Deferred costs — 975 3,378 — 4,353 Other tax assets — — 2,949 — 2,949 Other current assets 8,088 10,241 9,600 — 27,929 Total current assets 24,382 70,785 171,144 593 266,904 Property, plant and equipment, net (19 ) 369,529 164,861 — 534,371 Intangible assets, net — 4,821 — — 4,821 Rig materials and supplies — 7,036 5,935 — 12,971 Deferred income taxes 1,918 (14,806 ) 15,031 — 2,143 Investment in subsidiaries and intercompany advances 2,871,807 3,024,736 4,264,747 (10,161,290 ) — Other non-current assets (277,183 ) 257,204 507,932 (480,749 ) 7,204 Total assets $ 2,620,905 $ 3,719,305 $ 5,129,650 $ (10,641,446 ) $ 828,414 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Debtor in possession financing $ 10,000 $ — $ — $ — $ 10,000 Accounts payable (200,977 ) 222,903 511,770 (494,018 ) 39,678 Accrued liabilities 69,961 11,934 76,947 (123,457 ) 35,385 Accrued income taxes 88,494 (67,333 ) (17,776 ) — 3,385 Total current liabilities (32,522 ) 167,504 570,941 (617,475 ) 88,448 Other long-term liabilities 2,867 4,128 4,549 — 11,544 Long-term deferred tax liability — — 510 — 510 Intercompany payables 1,918,709 1,487,904 2,719,884 (6,126,497 ) — Total liabilities not subject to compromise 1,889,054 1,659,536 3,295,884 (6,743,972 ) 100,502 Liabilities subject to compromise 600,996 — — — 600,996 Total stockholder's equity 130,855 2,059,769 1,833,766 (3,897,474 ) 126,916 Total liabilities and stockholders’ equity $ 2,620,905 $ 3,719,305 $ 5,129,650 $ (10,641,446 ) $ 828,414 PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) 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 ) 429,999 195,791 — 625,771 Goodwill — 6,708 — — 6,708 Intangible assets, net — 7,128 — — 7,128 Rig and materials and supplies — 7,256 11,532 — 18,788 Deferred income taxes 15,144 (26,623 ) 12,763 — 1,284 Investment in subsidiaries and intercompany advances 2,955,050 2,970,220 3,956,747 (9,882,017 ) — Other non-current assets (276,375 ) 257,121 512,870 (480,852 ) 12,764 Total assets $ 2,769,142 $ 3,708,139 $ 4,875,867 $ (10,362,869 ) $ 990,279 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ (137,047 ) $ 162,505 $ 510,083 $ (494,018 ) $ 41,523 Accrued liabilities 85,987 16,742 78,452 (123,458 ) 57,723 Accrued income taxes 76,883 (56,870 ) (15,583 ) — 4,430 Total current liabilities 25,823 122,377 572,952 (617,476 ) 103,676 Long-term debt, net 577,971 — — — 577,971 Other long-term liabilities 2,867 5,741 3,825 — 12,433 Long-term deferred tax liability — — 78 — 78 Intercompany payables 1,865,810 1,465,745 2,430,339 (5,761,894 ) — Total stockholders' equity 296,671 2,114,276 1,868,673 (3,983,499 ) 296,121 Total liabilities and stockholders’ equity $ 2,769,142 $ 3,708,139 $ 4,875,867 $ (10,362,869 ) $ 990,279 CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2018 Parent Guarantor Non-Guarantor Eliminations Consolidated Revenues $ — $ 204,319 $ 327,266 $ (50,764 ) $ 480,821 Expenses: Operating expenses — 115,291 313,577 (50,764 ) 378,104 Depreciation and amortization — 76,353 31,192 — 107,545 — 191,644 — 344,769 — (50,764 ) — 485,649 Total operating gross margin (loss) — 12,675 (17,503 ) — (4,828 ) General and administrative expense (1) 23,568 (47,819 ) (294 ) — (24,545 ) Loss on impairment — (40,917 ) (9,781 ) — (50,698 ) Gain (loss) on disposition of assets, net — (1,347 ) (377 ) — (1,724 ) Pre-petition restructuring charges (21,820 ) — — — (21,820 ) Reorganization items (9,789 ) — — — — — — (9,789 ) Total operating income (loss) (8,041 ) (77,408 ) (27,955 ) — (113,404 ) Other income (expense): Interest expense (45,696 ) 67 (9,214 ) 12,278 (42,565 ) Interest income 572 721 11,076 (12,278 ) 91 Other — 6 (2,029 ) — (2,023 ) Equity in net earnings of subsidiaries (87,548 ) — — 87,548 — Total other income (expense) (132,672 ) 794 (167 ) 87,548 (44,497 ) Income (loss) before income taxes (140,713 ) (76,614 ) (28,122 ) 87,548 (157,901 ) Income tax expense (benefit): Current tax expense 11,758 (10,241 ) 6,708 — 8,225 Deferred tax expense (benefit) 13,226 (11,865 ) (1,790 ) — (429 ) Total income tax expense (benefit) 24,984 (22,106 ) 4,918 — 7,796 Net income (loss) (165,697 ) (54,508 ) (33,040 ) 87,548 (165,697 ) Less: Convertible preferred stock dividend 2,719 — — — 2,719 Net income (loss) available to common stockholders $ (168,416 ) $ (54,508 ) $ (33,040 ) $ 87,548 $ (168,416 ) (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated Revenues $ — $ 167,675 $ 355,859 $ (81,014 ) $ 442,520 Expenses: Operating expenses — 93,834 342,667 (81,014 ) 355,487 Depreciation and amortization — 81,248 41,125 — 122,373 — 175,082 383,792 (81,014 ) 477,860 Total operating gross margin (loss) — (7,407 ) (27,933 ) — (35,340 ) General and administrative expense (1) (323 ) (24,887 ) (466 ) — (25,676 ) Loss on impairment Provision for reduction in carrying value of certain assets — — (1,938 ) — (1,938 ) Gain (loss) on disposition of assets, net — (243 ) (2,608 ) — (2,851 ) Total operating income (loss) (323 ) (32,537 ) (32,945 ) — (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 ) (31,942 ) (31,092 ) 40,752 (109,661 ) Income tax expense (benefit): Current tax expense 26,537 (22,524 ) 5,251 — 9,264 Deferred tax expense (benefit) 4,785 (7,763 ) 2,754 — (224 ) Total income tax expense (benefit) 31,322 (30,287 ) 8,005 — 9,040 Net income (loss) (118,701 ) (1,655 ) (39,097 ) 40,752 (118,701 ) Less: Convertible preferred stock dividend 3,051 — — — 3,051 Net income (loss) available to common stockholders $ (121,752 ) $ (1,655 ) $ (39,097 ) $ 40,752 $ (121,752 ) (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Revenues $ — $ 151,100 $ 382,094 $ (106,190 ) $ 427,004 Expenses: Operating expenses — 100,751 367,960 (106,190 ) 362,521 Depreciation and amortization — 90,197 49,598 — 139,795 — 190,948 417,558 (106,190 ) 502,316 Total operating gross margin (loss) — (39,848 ) (35,464 ) — (75,312 ) General and administrative expense (1) (410 ) (29,356 ) (4,566 ) — (34,332 ) Gain (loss) on disposition of assets, net — (565 ) (1,048 ) — (1,613 ) Total operating income (loss) (410 ) (69,769 ) (41,078 ) — (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 — 483 (116 ) — 367 Equity in net earnings of subsidiaries (94,469 ) — — 94,469 — Total other income (expense) (141,871 ) 536 1,479 94,469 (45,387 ) Income (loss) before income taxes (142,281 ) (69,233 ) (39,599 ) 94,469 (156,644 ) Income tax expense (benefit): Current tax expense 40,562 (35,251 ) (203 ) — 5,108 Deferred tax expense (benefit) 47,971 14,940 6,151 — 69,062 Total income tax expense (benefit) 88,533 (20,311 ) 5,948 — 74,170 Net income (loss) (230,814 ) (48,922 ) (45,547 ) 94,469 (230,814 ) Less: Convertible preferred stock dividend — — — — — Net income (loss) available to common stockholders $ (230,814 ) $ (48,922 ) $ (45,547 ) $ 94,469 $ (230,814 ) (1) CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year Ended December 31, 2018 Parent Guarantor Non-Guarantor Eliminations Consolidated Net income (loss) $ (165,697 ) $ (54,508 ) $ (33,040 ) $ 87,548 $ (165,697 ) Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (646 ) — $ (646 ) Currency translation difference on foreign currency net investments — — (2,721 ) — $ (2,721 ) Total other comprehensive income (loss), net of tax: — — (3,367 ) — (3,367 ) Comprehensive income (loss) $ (165,697 ) $ (54,508 ) $ (36,407 ) $ 87,548 $ (169,064 ) PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year Ended December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated Net income (loss) $ (118,701 ) $ (1,655 ) $ (39,097 ) $ 40,752 $ (118,701 ) Other comprehensive income (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 income (loss), net of tax: — — 3,332 — 3,332 Comprehensive income (loss) $ (118,701 ) $ (1,655 ) $ (35,765 ) $ 40,752 $ (115,369 ) PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Net income (loss) $ (230,814 ) $ (48,922 ) $ (45,547 ) $ 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) $ (230,814 ) $ (48,922 ) $ (50,503 ) $ 94,469 $ (235,770 ) CONSOLIDATED STATEMENT OF CASH FLOWS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2018 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (165,697 ) $ (54,508 ) $ (33,040 ) $ 87,548 $ (165,697 ) Adjustments to reconcile net income (loss): — Depreciation and amortization — 76,353 31,192 — 107,545 Gain (loss) on disposition of assets, net — 1,347 377 — 1,724 Deferred tax expense (benefit) 13,226 (11,865 ) (1,790 ) — (429 ) Loss on impairment — 40,917 9,781 — 50,698 Reorganization items 7,538 — — — 7,538 Expenses not requiring cash 4,526 (302 ) (8,498 ) 9,425 5,151 Equity in net earnings (losses) of subsidiaries 87,548 — — (87,548 ) — Change in assets and liabilities: Accounts and notes receivable — (16,244 ) 1,009 — (15,235 ) Rig materials and supplies — (4,454 ) 5,296 (593 ) 249 Other current assets (8,088 ) (4,854 ) 2,082 — (10,860 ) Other non-current assets 1,042 3,315 8,763 (101 ) 13,019 Accounts payable and accrued liabilities (63,054 ) 57,305 7,207 (10,947 ) (9,489 ) Accrued income taxes 11,611 (10,415 ) (2,460 ) — (1,264 ) Net cash provided by (used in) operating activities (111,348 ) 76,595 19,919 (2,216 ) (17,050 ) Cash flows from investing activities: Capital expenditures — (56,897 ) (13,670 ) — (70,567 ) Proceeds from the sale of assets — 87 1,266 — 1,353 Net cash provided by (used in) investing activities — (56,810 ) (12,404 ) — (69,214 ) Cash flows from financing activities: Proceeds from borrowing under DIP facility 10,000 — — — 10,000 Payment of DIP facility costs (975 ) — — — (975 ) Convertible preferred stock dividend (3,625 ) — — — (3,625 ) Payments of debt issuance costs (1,443 ) — — — (1,443 ) Shares surrendered in lieu of tax (251 ) — — — (251 ) Intercompany advances, net 48,594 (31,119 ) (19,691 ) 2,216 — Net cash provided by (used in) financing activities 52,300 (31,119 ) (19,691 ) 2,216 3,706 Net increase (decrease) in cash, cash equivalents and restricted cash (59,048 ) (11,334 ) (12,176 ) — (82,558 ) Cash, cash equivalents and restricted cash at beginning of period 75,342 20,655 45,552 — 141,549 Cash, cash equivalents and restricted cash at end of period $ 16,294 $ 9,321 $ 33,376 $ — $ 58,991 PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATED STATEMENT 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 ) $ (1,655 ) $ (39,097 ) $ 40,752 (118,701 ) Adjustments to reconcile net income (loss): — Depreciation and amortization — 81,248 41,125 — 122,373 Gain (loss) on disposition of assets, net — 243 2,608 — 2,851 Deferred tax expense (benefit) 4,785 (7,763 ) 2,754 — (224 ) Provision for reduction in carrying value of certain assets — — 1,938 — 1,938 Expenses not requiring cash 5,651 4,793 4,869 (11,062 ) 4,251 Equity in net earnings (losses) of subsidiaries 40,752 — — (40,752 ) — Change in assets and liabilities: Accounts and notes receivable — (16,552 ) 13,495 (6,571 ) (9,628 ) Rig materials and supplies — (1,869 ) 6,579 — 4,710 Other current assets (50,296 ) 34,096 14,881 — (1,319 ) Other non-current assets 361 (1,542 ) 3,234 6,605 8,658 Accounts payable and accrued liabilities (41,885 ) 30,359 (7,925 ) 10,737 (8,714 ) Accrued income taxes 79,319 (61,233 ) (17,548 ) — 538 Net cash provided by (used in) operating activities (80,014 ) 60,125 26,913 (291 ) 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 convertible preferred stock 50,000 — — — 50,000 Payment of equity issuance costs (2,864 ) — — — (2,864 ) Convertible preferred stock dividend (2,145 ) — — — (2,145 ) Shares surrendered in lieu of tax (936 ) — — — (936 ) Intercompany advances, net 21,101 (10,753 ) (10,639 ) 291 — Net cash provided by (used in) financing activities 90,356 (10,753 ) (10,639 ) 291 69,255 Net increase (decrease) in cash, cash equivalents and restricted cash 10,342 6,450 5,066 — 21,858 Cash and cash equivalents at beginning of period 65,000 14,205 40,486 — 119,691 Cash and cash equivalents at end of period $ 75,342 $ 20,655 $ 45,552 $ — $ 141,549 PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATED STATEMENT 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 ) $ (48,922 ) $ (45,547 ) $ 94,469 $ (230,814 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 90,197 49,598 — 139,795 (Gain) loss on debt modification 1,088 — — — 1,088 Accretion of contingent consideration — 419 — — 419 Gain (loss) on disposition of assets, net — 565 1,048 — 1,613 Deferred tax expense (benefit) 47,971 14,940 6,151 — 69,062 Expenses not requiring cash 9,545 (4,900 ) (2,127 ) — 2,518 Equity in net earnings of subsidiaries 94,469 — — (94,469 ) — Change in assets and liabilities: Accounts and notes receivable — 25,848 34,543 — 60,391 Rig materials and supplies — (361 ) (1,391 ) — (1,752 ) Other current assets 50,296 (34,479 ) (13,677 ) — 2,140 Other non-current assets (299 ) 441 3,755 — 3,897 Accounts payable and accrued liabilities (121,016 ) 99,511 2,011 — (19,494 ) Accrued income taxes (10,381 ) (1,134 ) 5,093 — (6,422 ) Net cash provided by (used in) operating activities (159,141 ) 142,125 39,457 — 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 ) 519 (6,137 ) — (14,603 ) Cash and cash equivalents at beginning of period 73,985 13,686 46,623 — 134,294 Cash and cash equivalents at end of period $ 65,000 $ 14,205 $ 40,486 $ — $ 119,691

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-09, 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, 2018 Allowance for bad debt $ 7,564 309 (47 ) (59 ) $ 7,767 Allowance for obsolete rig materials and supplies $ 809 1,041 — (303 ) $ 1,547 Deferred tax valuation allowance $ 157,914 28,353 — — $ 186,267 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

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Organization and Nature of Operations	Parker Drilling Company, incorporated in Delaware, and its wholly-owned subsidiaries (“Parker Drilling” or the “Company” or “we” or “us” or “our”) is an international provider of contract drilling and drilling-related services as well as rental tools and services. We have operated in over 50
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 50.0
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.
Use of Estimates	The preparation of our consolidated financial statements in accordance with 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 consolidated 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, self-insured medical/dental plans, impairment, 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 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.
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 that indicate that the fair value of the reporting unit has decreased below its carrying value. In order to estimate the fair value of the reporting unit, the Company used a weighting of the discounted cash flow, guideline public company and guideline transaction method. The Company engages third-party appraisal firms to assist in fair value determination of the reporting unit. 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 developed technology and trade names, 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
Cash, Cash Equivalents and Restricted Cash	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.
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: Computer, office equipment and other 3 to 10 years 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
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
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 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 affecting 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 50.0 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 (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, assumed conversion of convertible 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, time-based phantom stock units, performance cash units, and performance-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 investigative 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		Standards recently adopted In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU supersedes the revenue recognition requirements in FASB ASC Topic No. 605 - Revenue Recognition and most industry-specific guidance throughout the Codification. 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. Effective January 1, 2018, we adopted ASU 2014-09 using the modified retrospective approach and it did not have a material impact on our consolidated balance sheets, statement of operations, and statements of cash flows. See Note 14 - Revenue from Contracts with Customers for further details. Standards not yet adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This ASU 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. Under the updated accounting standard, we have determined that our drilling contracts contain a lease component. In July 2018, the FASB issued ASU 2018-11 which 1) provides for a new transition method whereby entities may elect to adopt the update using a prospective with cumulative catch-up approach and 2) provides lessors with an option to not separate non-lease components from the associated lease components when certain criteria are met and requires them to account for the combined component in accordance with the new revenue standard if the associated non-lease components are the predominant components. We adopted ASU 2016-02 on January 1, 2019 using modified retrospective transition method applied at the beginning of the period of adoption. We have elected certain available practical expedients. Our adoption, and the ultimate effect on our consolidated financial statements, will be based on an evaluation

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	December 31, Dollars in thousands 2018 2017 Cash and cash equivalents $ 48,602 $ 141,549 Restricted cash 10,389 — Cash, cash equivalents and restricted cash at end of period $ 58,991 $ 141,549
Restrictions on Cash and Cash Equivalents	December 31, Dollars in thousands 2018 2017 Cash and cash equivalents $ 48,602 $ 141,549 Restricted cash 10,389 — Cash, cash equivalents and restricted cash at end of period $ 58,991 $ 141,549
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 2018 2017 Trade $ 144,204 $ 130,075 Allowance for bad debt (1) (7,767 ) (7,564 ) Total accounts and notes receivable, net of allowance for bad debt $ 136,437 $ 122,511 (1) Additional information on the allowance for bad debt for the years ended December 31, 2018 , 2017 and 2016
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: Computer, office equipment and other 3 to 10 years 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

Chapter 11 Cases (Tables)

Chapter 11 Cases (Tables)	12 Months Ended
	Dec. 31, 2018
Reorganizations [Abstract]
Schedule of Expenses Incurred Subsequent to and as a Direct Result of Chapter 11 Cases	Reorganization items were $9.8 million for the year ended December 31, 2018 , which consisted of: Dollars in thousands December 31, 2018 6.75% Senior Notes, due July 2022 - unamortized debt issuance costs $ 3,775 7.50% Senior Notes, due August 2020 - unamortized debt issuance costs 1,580 2015 Secured Credit Agreement - unamortized debt issuance costs 1,208 Professional fees 2,251 DIP facility costs 975 Reorganization items $ 9,789
Schedule of Liabilities Subject to Compromise	Liabilities subject to compromise as of December 31, 2018 were $601.0 million , which consisted of: Dollars in thousands December 31, 2018 6.75% Senior Notes, due July 2022 $ 360,000 7.50% Senior Notes, due August 2020 225,000 Accrued interest on Senior Notes 15,996 Liabilities subject to compromise $ 600,996
Debtor in Possession Financial Statements	Following are the consolidated financial statements of the entities included in the Chapter 11 Cases : PARKER DRILLING COMPANY (DEBTOR IN POSSESSION) CONSOLIDATED BALANCE SHEET (Dollars in Thousands) (Unaudited) December 31, 2018 ASSETS Current assets: Cash and cash equivalents $ 15,226 Restricted cash 10,389 Accounts and Notes Receivable, net of allowance for bad debts of $808 at December 31, 2018 (1) 223,296 Rig materials and supplies 1,650 Deferred costs 975 Other tax assets 183,356 Other current assets 18,329 Total current assets 453,221 Property, plant and equipment, net of accumulated depreciation of $526,166 at December 31, 2018 369,510 Intangible assets, net 4,821 Rig materials and supplies 7,036 Deferred income taxes 23,576 Intra-group advances 549,460 Investment in subsidiaries 893,550 Other non-current assets 1,452 Total assets $ 2,302,626 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities: Debtor in possession financing $ 10,000 Accounts payable (2) 286,840 Accrued liabilities 28,184 Accrued income taxes 204,518 Total current liabilities 529,542 Other long-term liabilities (3) 728,218 Long-term deferred tax liability 36,463 Total liabilities not subject to compromise 1,294,223 Liabilities subject to compromise 600,996 Total stockholders’ equity 407,407 Total liabilities and stockholders’ equity $ 2,302,626 (1) Includes intra-group receivables in the amount of $174.7 million . (2) Includes intra-group payables in the amount of $213.2 million . (3) Includes intra-group liabilities in the amount of $314.6 million . PARKER DRILLING COMPANY (DEBTOR IN POSSESSION) CONSOLIDATED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2018 Revenues $ 203,585 Expenses: Operating expenses 115,269 Depreciation and amortization 76,353 191,622 Total operating gross margin (loss) 11,963 General and administrative expense (23,539 ) Loss on impairment (40,917 ) Gain (loss) on disposition of assets, net (1,347 ) Pre-petition restructuring charges (21,820 ) Reorganization items (9,789 ) Total operating income (loss) (85,449 ) Other income (expense): Interest expense (45,488 ) Interest income 1,152 Other 6 Equity in net earnings of subsidiaries (33,040 ) Total other income (expense) (77,370 ) Income (loss) before income taxes (162,819 ) Income tax expense (benefit): Current tax expense 1,517 Deferred tax expense (benefit) 1,361 Total income tax expense (benefit) 2,878 Net income (loss) (165,697 ) Less: Convertible preferred stock dividend 2,719 Net income (loss) attributable to debtor entities $ (168,416 ) PARKER DRILLING COMPANY (DEBTOR IN POSSESSION) CONSOLIDATED STATEMENT OF CASH FLOWS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2018 Cash flows from operating activities: Net income (loss) $ (165,697 ) Adjustments to reconcile net income (loss): Depreciation and amortization 76,353 Gain (loss) on disposition of assets, net 1,347 Deferred tax expense (benefit) 1,361 Loss on impairment 40,917 Reorganization items 7,538 Expenses not requiring cash 4,224 Equity in net earnings of subsidiaries 33,040 Change in assets and liabilities: Accounts and notes receivable (2,189 ) Rig materials and supplies (4,454 ) Other current assets (41,564 ) Other non-current assets 2,586 Accounts payable and accrued liabilities (559 ) Accrued income taxes 29,818 Net cash provided by (used in) operating activities (17,279 ) Cash flows from investing activities: Capital expenditures (56,897 ) Proceeds from the sale of assets 87 Net cash provided by (used in) investing activities (56,810 ) Cash flows from financing activities: Proceeds from borrowing under DIP facility 10,000 Payment of DIP facility costs (975 ) Convertible preferred stock dividend (3,625 ) Payments of debt issuance costs (1,443 ) Shares surrendered in lieu of tax (251 ) Net cash provided by (used in) financing activities 3,706 Net increase (decrease) in cash and cash equivalents (70,383 ) Cash, cash equivalents and restricted cash at beginning of period 95,998 Cash, cash equivalents and restricted cash at end of period $ 25,615

Property Plant and Equipment (T

Property Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
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 2018 2017 Property, plant and equipment, at cost: Drilling equipment $ 720,037 $ 1,228,443 Rental tools 581,107 552,461 Building, land and improvements 58,193 60,309 Other 115,977 115,910 Construction in progress 10,855 11,753 Total property, plant and equipment, at cost 1,486,169 1,968,876 Less: Accumulated depreciation and amortization 951,798 1,343,105 Property, plant, and equipment, net $ 534,371 $ 625,771

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in the carrying amount of goodwill for the year ended December 31, 2018 is as follows: Dollars in thousands Goodwill Balance at December 31, 2017 $ 6,708 Goodwill impairment (6,708 ) Balance at December 31, 2018 $ —
Schedule of Intangible Assets	Intangible Assets consist of the following: Balance at December 31, 2018 Dollars in thousands Estimated Useful Life (Years) Gross Carrying Amount Write-off Due to Sale Accumulated Amortization Net Carrying Amount Developed technology 6 $ 11,630 $ — $ (7,269 ) $ 4,361 Trade Names 5 4,940 (332 ) (4,148 ) 460 Total intangible assets $ 16,570 $ (332 ) $ (11,417 ) $ 4,821
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 2019 $ 2,306 2020 $ 2,030 2021 $ 485 2022 $ — Beyond 2022 $ —

Supplementary Accrued Liabili_2

Supplementary Accrued Liabilities Information (Tables)	12 Months Ended
	Dec. 31, 2018
Additional Financial Information Disclosure [Abstract]
Schedule of Accrued Liabilities	The significant components of accrued liabilities on our consolidated balance sheets as of December 31, 2018 and 2017 are presented below: Year Ended December 31, Dollars in Thousands 2018 2017 Accrued liabilities: Accrued payroll & related benefits $ 20,736 $ 27,252 Accrued interest expense 32 18,169 Accrued professional fees & other 9,578 7,888 Deferred mobilization fees 4,082 3,149 Workers’ compensation liabilities, net 957 1,265 Total accrued liabilities $ 35,385 $ 57,723

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Summary of Company's Current Debt Portfolio	The following table illustrates the Company’s debt portfolio as of December 31, 2018 and December 31, 2017 : December 31, Dollars in thousands 2018 2017 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 ) Total debt $ 585,000 $ 577,971

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 December 31, 2017 Dollars in thousands Carrying Amount Fair Value Carrying Amount Fair Value Debt 6.75% Notes $ 360,000 $ 180,000 $ 360,000 $ 296,100 7.50% Notes 225,000 117,000 225,000 206,438 Total $ 585,000 $ 297,000 $ 585,000 $ 502,538

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
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 2018 2017 2016 United States $ (145,954 ) $ (89,233 ) $ (131,106 ) Foreign (11,947 ) (20,428 ) (25,538 ) Income (loss) before income taxes $ (157,901 ) $ (109,661 ) $ (156,644 )
Summary of Income Tax Expense (Benefit)	Income tax expense (benefit) is summarized as follows: Year Ended December 31, Dollars in thousands 2018 2017 2016 Current tax expense Federal $ (14 ) $ 80 $ (1,921 ) State 229 54 (9 ) Foreign 8,010 9,130 7,038 Total current tax expense $ 8,225 $ 9,264 $ 5,108 Deferred tax expense (benefit) Federal $ — $ 167 $ 64,066 State — — (47 ) Foreign (429 ) (391 ) 5,043 Total deferred tax expense (benefit) $ (429 ) $ (224 ) $ 69,062 Total income tax expense (benefit) $ 7,796 $ 9,040 $ 74,170
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, 2018 2017 2016 Dollars in thousands Amount % of Pre-Tax Income Amount % of Pre-Tax Income Amount % of Pre-Tax Income Computed expected tax expense $ (33,160 ) 21.0 % $ (38,381 ) 35.0 % $ (54,825 ) 35.0 % Foreign taxes 7,321 (4.6 )% 13,084 (11.9 )% 12,688 (8.1 )% Tax effect different from statutory rates (68 ) — % (2,048 ) 1.9 % (3,629 ) 2.3 % State taxes, net of federal benefit (2,552 ) 1.6 % 35 — % (849 ) 0.5 % Foreign tax credits — — % 3 — % 20 — % Change in valuation allowance (excluding impact of Tax Act) 28,353 (18.0 )% 30,704 (28.0 )% 117,707 (75.1 )% Uncertain tax positions (221 ) 0.1 % 194 (0.2 )% (726 ) 0.5 % Permanent differences 8,008 (5.1 )% 2,970 (2.7 )% 1,442 (0.9 )% Prior year return to provision adjustments 50 — % 2,442 (2.3 )% 2,078 (1.3 )% Other 65 0.1 % 37 — % 264 (0.2 )% 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 % — — % Income tax expense (benefit) $ 7,796 (4.9 )% $ 9,040 (8.2 )% $ 74,170 (47.3 )%
Components of Deferred Tax Assets and Liabilities	The components of the Company’s deferred tax assets and liabilities as of December 31, 2018 and 2017 are shown below: December 31, Dollars in thousands 2018 2017 Deferred tax assets Deferred tax assets: Federal net operating loss carryforwards $ 109,002 $ 95,867 State net operating loss carryforwards 13,168 11,089 Excess interest 6,230 — Other state deferred tax asset, net 1,201 626 Foreign tax credits 46,913 46,913 FIN 48 887 953 Foreign tax 40,190 36,699 Accruals not currently deductible for tax purposes 3,119 2,926 Deferred compensation 816 1,204 Other 1,297 74 Total deferred tax assets 222,823 196,351 Valuation allowance (186,267 ) (157,914 ) Net deferred tax assets, net of valuation allowance $ 36,556 $ 38,437 Deferred tax liabilities: Deferred tax liabilities: Property, plant and equipment $ (28,440 ) $ (30,648 ) Foreign tax local (510 ) (78 ) Other state deferred tax liability, net (5,096 ) (5,174 ) Intangibles (877 ) (1,331 ) Total deferred tax liabilities (34,923 ) (37,231 ) Net deferred tax asset $ 1,633 $ 1,206
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, 2018 $ (5,395 ) Reductions based on tax positions taken during a prior period 190 Additions based on tax positions taken during the current period (523 ) Balance at December 31, 2018 $ (5,728 )
Open Tax Years by Major Tax Jurisdiction	The following describes the open tax years, by major tax jurisdiction, as of December 31, 2018 : Kazakhstan 2008-present Mexico 2014-present Russia 2014-present United States — Federal 2009-present United Kingdom 2015-present

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 , under operating leases with non-cancelable terms are as follows: Dollars in Thousands Year Ended 2019 $ 10,722 2020 7,887 2021 4,193 2022 1,968 2023 1,540 Thereafter 636 Total $ 26,946

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Summary of Long-Term Incentive Plans	The following table presents restricted stock units granted, vested and forfeited during 2018 under the Stock Plan: Restricted Stock Units Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 302,338 $ 27.10 Granted 107,863 $ 12.51 Vested (156,524 ) $ 29.87 Forfeited (18,079 ) $ 23.82 Nonvested at December 31, 2018 235,598 $ 18.84
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 2018 under the Stock Plan: Time-based Phantom Stock Units Nonvested at January 1, 2018 68,759 Granted 106,530 Vested (28,387 ) Forfeited (4,117 ) Nonvested at December 31, 2018 142,785
Schedule of Nonvested Performance-based Units Activity	The following table presents performance cash units granted, vested, and forfeited during 2018 under the Stock Plan: Performance Cash Units Nonvested at January 1, 2018 23,021 Granted 16,149 Vested (10,771 ) Forfeited (791 ) Nonvested at December 31, 2018 27,608
Share-Based Compensation, Performance-Based Stock Units Activity	The following table presents performance-based phantom stock units granted, vested, and forfeited during 2018 under the Stock Plan: Performance-based Phantom Stock Units Nonvested at January 1, 2018 87,395 Granted 107,645 Vested (48,937 ) Forfeited (3,778 ) Nonvested at December 31, 2018 142,325

Earnings (Loss) Per Share (EP_2

Earnings (Loss) Per Share (EPS) (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 , 2017 , and 2016 respectively: Year ended December 31, Dollars in thousands, except per share amounts 2018 2017 2016 Basic EPS Numerator Net income (loss) available to common stockholders (numerator) $ (168,416 ) $ (121,752 ) $ (230,814 ) Denominator Weighted average shares outstanding 9,311,722 9,084,456 8,275,334 Number of shares used for basic EPS computation 9,311,722 9,084,456 8,275,334 Basic earnings (loss) per common share $ (18.09 ) $ (13.40 ) $ (27.89 ) Year ended December 31, Dollars in thousands, except per share amounts 2018 2017 2016 Diluted EPS Numerator Net income (loss) available to common stockholders (numerator) $ (168,416 ) $ (121,752 ) $ (230,814 ) Denominator Number of shares used for basic EPS computation 9,311,722 9,084,456 8,275,334 Restricted stock units (1) — — — Convertible preferred stock (2) — — — Number of shares used for diluted EPS computation 9,311,722 9,084,456 8,275,334 Diluted earnings (loss) per common share $ (18.09 ) $ (13.40 ) $ (27.89 ) (1) For each of the years ended December 31, 2018 , 2017 , and 2016 , 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 totaling 1,587,300

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The following table provides information about contract liabilities from contracts with customers: Dollars in thousands December 31, 2018 December 31, 2017 Contract liabilities - current (Deferred revenue) (1) $ 4,081 $ 1,581 Contract liabilities - non-current (Deferred revenue) (1) 2,441 1,568 Total contract liabilities $ 6,522 $ 3,149 (1) Contract liabilities - current and contract liabilities - non-current are included in accounts payable and accrued liabilities and other long-term liabilities respectively, in our consolidated condensed balance sheet as of December 31, 2018 and December 31, 2017 . Contract liabilities relate to mobilization revenues and capital modification revenues, where, we have unconditional right to cash or cash has been received but performance obligations have not been fulfilled. These liabilities are reduced and revenue is recognized as performance obligations are fulfilled. Significant changes to contract liabilities balances during the year ended December 31, 2018 are shown below: Dollars in thousands Contract Liabilities Balance at December 31, 2017 $ (3,149 ) Decrease due to recognition of revenue 4,879 Increase to deferred revenue during current period (8,252 ) Balance at December 31, 2018 $ (6,522 )
Revenue Expected to be Recognized in the Future Related to Performance Obligations	The following table includes deferred revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. Balance at December 31, 2018 Dollars in thousands 2019 2020 2021 Beyond 2022 Total Deferred revenue $ 4,071 $ 898 $ 872 $ 681 $ 6,522

Reportable Segments (Tables)

Reportable Segments (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Results of Operations by Reportable Segment	Our International Rental Tools segment maintains an inventory of rental tools and provides well construction, well intervention, and surface and tubular services to our customers in the Middle East, Latin America, Europe, and Asia-Pacific regions. The following table represents the results of operations by reportable segment: Year Ended December 31, Dollars in thousands 2018 2017 2016 Revenues: (1) U.S. (Lower 48) Drilling $ 11,729 $ 12,389 $ 5,429 International & Alaska Drilling 213,411 247,254 287,332 Total Drilling Services 225,140 259,643 292,761 U.S. Rental Tools 176,531 121,937 71,613 International Rental Tools 79,150 60,940 62,630 Total Rental Tools Services 255,681 182,877 134,243 Total revenues $ 480,821 $ 442,520 $ 427,004 Operating gross margin: (2) U.S. (Lower 48) Drilling $ (15,720 ) $ (20,656 ) $ (34,353 ) International & Alaska Drilling (21,936 ) (6,248 ) 9,272 Total Drilling Services (37,656 ) (26,904 ) (25,081 ) U.S. Rental Tools 44,512 15,651 (22,372 ) International Rental Tools (11,684 ) (24,087 ) (27,859 ) Total Rental Tools Services 32,828 (8,436 ) (50,231 ) Total operating gross margin (loss) (4,828 ) (35,340 ) (75,312 ) General and administrative expense (24,545 ) (25,676 ) (34,332 ) Loss on impairment (50,698 ) — — Provision for reduction in carrying value of certain assets — (1,938 ) — Gain (loss) on disposition of assets, net (1,724 ) (2,851 ) (1,613 ) Pre-petition restructuring charges (21,820 ) — — Reorganization items (9,789 ) — — Total operating income (loss) (113,404 ) (65,805 ) (111,257 ) Interest expense (42,565 ) (44,226 ) (45,812 ) Interest income 91 244 58 Other (2,023 ) 126 367 Income (loss) before income taxes $ (157,901 ) $ (109,661 ) $ (156,644 ) (1) For the years ended December 31, 2018 , 2017 , and 2016 , our largest customer, ENL , constituted approximately 25.7 percent , 31.3 percent , and 38.7 percent , respectively, of our total consolidated revenues and approximately 58 percent , 55.9 percent , and 57.5 percent , respectively, of our International & Alaska Drilling segment revenues. Excluding reimbursable revenues of $47.2 million , $50.8 million , and $67.0 million , ENL constituted approximately 17.9 percent , 22.7 percent , and 27.5 percent , respectively, of our total consolidated revenues and approximately 48.0 percent , 46.1 percent , and 45.0 percent , respectively of our International & Alaska Drilling segment revenues. (2) Operating gross margin is calculated as revenues less direct operating expenses, including depreciation and amortization expense. Other business segment information The following table represents capital expenditures and depreciation and amortization by reportable segment: Year Ended December 31, Dollars in thousands 2018 2017 2016 Capital expenditures: U.S. (Lower 48) Drilling $ 444 $ 230 $ 264 International & Alaska Drilling 7,444 3,673 5,258 U.S. Rental Tools 55,545 39,948 10,848 International Rental Tools 6,275 8,584 9,725 Corporate 859 2,098 2,859 Total capital expenditures $ 70,567 $ 54,533 $ 28,954 Depreciation and amortization: (1) U.S. (Lower 48) Drilling $ 7,758 $ 13,521 $ 20,049 International & Alaska Drilling 36,072 46,950 55,236 U.S. Rental Tools 48,167 43,489 43,769 International Rental Tools 15,548 18,413 20,741 Total depreciation and amortization $ 107,545 $ 122,373 $ 139,795 (1) For presentation purposes, for the years then ended December 31, 2018 , 2017 and 2016 depreciation for corporate assets of $8.4 million , $8.7 million , and $8.3 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 2018 2017 U.S. (Lower 48) Drilling $ 30,283 $ 62,980 International & Alaska Drilling 366,856 421,753 U.S. Rental Tools 216,123 198,664 International Rental Tools 146,471 168,511 Total identifiable assets 759,733 851,908 Corporate 68,681 138,371 Total assets $ 828,414 $ 990,279
Operations by Geographical Area	The following table represents selected geographic information : Year Ended December 31, Dollars in Thousands 2018 2017 2016 Revenues: United States $ 207,612 $ 177,630 $ 127,596 Russia 123,767 139,144 142,538 EMEA & Asia 92,568 64,572 79,870 Latin America 14,631 11,594 12,952 Other CIS 13,703 23,768 33,659 Other (1) 28,540 25,812 30,389 Total revenues $ 480,821 $ 442,520 $ 427,004 Long-lived assets: (1) United States $ 369,106 $ 429,374 EMEA & Asia 89,696 108,621 Latin America 36,656 38,959 Other CIS 21,949 29,402 Russia 16,964 19,415 Total long-lived assets $ 534,371 $ 625,771 (1)

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of Selected Quarterly Financial Data	2018 Year Dollars in thousands, except per share data First Quarter Second Quarter Third Quarter Fourth Quarter Total Revenues $ 109,675 $ 118,603 $ 123,395 $ 129,148 $ 480,821 Operating gross margin (loss) $ (10,408 ) $ (167 ) $ 1,932 $ 3,815 $ (4,828 ) Operating income (loss) $ (16,266 ) $ (8,933 ) $ (56,544 ) $ (31,661 ) $ (113,404 ) Net income (loss) $ (28,796 ) $ (22,877 ) $ (70,951 ) $ (43,073 ) $ (165,697 ) Net income (loss) available to common stockholders $ (29,702 ) $ (23,784 ) $ (71,857 ) $ (43,073 ) $ (168,416 ) Basic earnings (loss) per common share (1) (2) $ (3.21 ) $ (2.56 ) $ (7.70 ) $ (4.60 ) $ (18.09 ) Diluted earnings (loss) per common share (1) (2) $ (3.21 ) $ (2.56 ) $ (7.70 ) $ (4.60 ) $ (18.09 ) 2017 Year Dollars in thousands, except per share data First Quarter Second Quarter Third Quarter Fourth Quarter Total 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) $ (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 (loss) per common share (1) (2) $ (4.59 ) $ (3.39 ) $ (2.30 ) $ (3.20 ) $ (13.40 ) Diluted earnings (loss) per common share (1) (2) $ (4.59 ) $ (3.39 ) $ (2.30 ) $ (3.20 ) $ (13.40 ) (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. (2) See Note 12 - Stockholders' Equity for details regarding the 1-for- 15

Parent, Guarantor, Non-Guaran_2

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Financial Statements (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidating Condensed Balance Sheet	CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) December 31, 2018 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 5,905 $ 9,321 $ 33,376 $ — $ 48,602 Restricted cash 10,389 — — — 10,389 Accounts and notes receivable, net — 48,598 87,839 — 136,437 Rig materials and supplies — 1,650 34,002 593 36,245 Deferred costs — 975 3,378 — 4,353 Other tax assets — — 2,949 — 2,949 Other current assets 8,088 10,241 9,600 — 27,929 Total current assets 24,382 70,785 171,144 593 266,904 Property, plant and equipment, net (19 ) 369,529 164,861 — 534,371 Intangible assets, net — 4,821 — — 4,821 Rig materials and supplies — 7,036 5,935 — 12,971 Deferred income taxes 1,918 (14,806 ) 15,031 — 2,143 Investment in subsidiaries and intercompany advances 2,871,807 3,024,736 4,264,747 (10,161,290 ) — Other non-current assets (277,183 ) 257,204 507,932 (480,749 ) 7,204 Total assets $ 2,620,905 $ 3,719,305 $ 5,129,650 $ (10,641,446 ) $ 828,414 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Debtor in possession financing $ 10,000 $ — $ — $ — $ 10,000 Accounts payable (200,977 ) 222,903 511,770 (494,018 ) 39,678 Accrued liabilities 69,961 11,934 76,947 (123,457 ) 35,385 Accrued income taxes 88,494 (67,333 ) (17,776 ) — 3,385 Total current liabilities (32,522 ) 167,504 570,941 (617,475 ) 88,448 Other long-term liabilities 2,867 4,128 4,549 — 11,544 Long-term deferred tax liability — — 510 — 510 Intercompany payables 1,918,709 1,487,904 2,719,884 (6,126,497 ) — Total liabilities not subject to compromise 1,889,054 1,659,536 3,295,884 (6,743,972 ) 100,502 Liabilities subject to compromise 600,996 — — — 600,996 Total stockholder's equity 130,855 2,059,769 1,833,766 (3,897,474 ) 126,916 Total liabilities and stockholders’ equity $ 2,620,905 $ 3,719,305 $ 5,129,650 $ (10,641,446 ) $ 828,414 PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) 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 ) 429,999 195,791 — 625,771 Goodwill — 6,708 — — 6,708 Intangible assets, net — 7,128 — — 7,128 Rig and materials and supplies — 7,256 11,532 — 18,788 Deferred income taxes 15,144 (26,623 ) 12,763 — 1,284 Investment in subsidiaries and intercompany advances 2,955,050 2,970,220 3,956,747 (9,882,017 ) — Other non-current assets (276,375 ) 257,121 512,870 (480,852 ) 12,764 Total assets $ 2,769,142 $ 3,708,139 $ 4,875,867 $ (10,362,869 ) $ 990,279 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ (137,047 ) $ 162,505 $ 510,083 $ (494,018 ) $ 41,523 Accrued liabilities 85,987 16,742 78,452 (123,458 ) 57,723 Accrued income taxes 76,883 (56,870 ) (15,583 ) — 4,430 Total current liabilities 25,823 122,377 572,952 (617,476 ) 103,676 Long-term debt, net 577,971 — — — 577,971 Other long-term liabilities 2,867 5,741 3,825 — 12,433 Long-term deferred tax liability — — 78 — 78 Intercompany payables 1,865,810 1,465,745 2,430,339 (5,761,894 ) — Total stockholders' equity 296,671 2,114,276 1,868,673 (3,983,499 ) 296,121 Total liabilities and stockholders’ equity $ 2,769,142 $ 3,708,139 $ 4,875,867 $ (10,362,869 ) $ 990,279
Consolidating Condensed Statement of Operations	CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2018 Parent Guarantor Non-Guarantor Eliminations Consolidated Revenues $ — $ 204,319 $ 327,266 $ (50,764 ) $ 480,821 Expenses: Operating expenses — 115,291 313,577 (50,764 ) 378,104 Depreciation and amortization — 76,353 31,192 — 107,545 — 191,644 — 344,769 — (50,764 ) — 485,649 Total operating gross margin (loss) — 12,675 (17,503 ) — (4,828 ) General and administrative expense (1) 23,568 (47,819 ) (294 ) — (24,545 ) Loss on impairment — (40,917 ) (9,781 ) — (50,698 ) Gain (loss) on disposition of assets, net — (1,347 ) (377 ) — (1,724 ) Pre-petition restructuring charges (21,820 ) — — — (21,820 ) Reorganization items (9,789 ) — — — — — — (9,789 ) Total operating income (loss) (8,041 ) (77,408 ) (27,955 ) — (113,404 ) Other income (expense): Interest expense (45,696 ) 67 (9,214 ) 12,278 (42,565 ) Interest income 572 721 11,076 (12,278 ) 91 Other — 6 (2,029 ) — (2,023 ) Equity in net earnings of subsidiaries (87,548 ) — — 87,548 — Total other income (expense) (132,672 ) 794 (167 ) 87,548 (44,497 ) Income (loss) before income taxes (140,713 ) (76,614 ) (28,122 ) 87,548 (157,901 ) Income tax expense (benefit): Current tax expense 11,758 (10,241 ) 6,708 — 8,225 Deferred tax expense (benefit) 13,226 (11,865 ) (1,790 ) — (429 ) Total income tax expense (benefit) 24,984 (22,106 ) 4,918 — 7,796 Net income (loss) (165,697 ) (54,508 ) (33,040 ) 87,548 (165,697 ) Less: Convertible preferred stock dividend 2,719 — — — 2,719 Net income (loss) available to common stockholders $ (168,416 ) $ (54,508 ) $ (33,040 ) $ 87,548 $ (168,416 ) (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated Revenues $ — $ 167,675 $ 355,859 $ (81,014 ) $ 442,520 Expenses: Operating expenses — 93,834 342,667 (81,014 ) 355,487 Depreciation and amortization — 81,248 41,125 — 122,373 — 175,082 383,792 (81,014 ) 477,860 Total operating gross margin (loss) — (7,407 ) (27,933 ) — (35,340 ) General and administrative expense (1) (323 ) (24,887 ) (466 ) — (25,676 ) Loss on impairment Provision for reduction in carrying value of certain assets — — (1,938 ) — (1,938 ) Gain (loss) on disposition of assets, net — (243 ) (2,608 ) — (2,851 ) Total operating income (loss) (323 ) (32,537 ) (32,945 ) — (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 ) (31,942 ) (31,092 ) 40,752 (109,661 ) Income tax expense (benefit): Current tax expense 26,537 (22,524 ) 5,251 — 9,264 Deferred tax expense (benefit) 4,785 (7,763 ) 2,754 — (224 ) Total income tax expense (benefit) 31,322 (30,287 ) 8,005 — 9,040 Net income (loss) (118,701 ) (1,655 ) (39,097 ) 40,752 (118,701 ) Less: Convertible preferred stock dividend 3,051 — — — 3,051 Net income (loss) available to common stockholders $ (121,752 ) $ (1,655 ) $ (39,097 ) $ 40,752 $ (121,752 ) (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Year ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Revenues $ — $ 151,100 $ 382,094 $ (106,190 ) $ 427,004 Expenses: Operating expenses — 100,751 367,960 (106,190 ) 362,521 Depreciation and amortization — 90,197 49,598 — 139,795 — 190,948 417,558 (106,190 ) 502,316 Total operating gross margin (loss) — (39,848 ) (35,464 ) — (75,312 ) General and administrative expense (1) (410 ) (29,356 ) (4,566 ) — (34,332 ) Gain (loss) on disposition of assets, net — (565 ) (1,048 ) — (1,613 ) Total operating income (loss) (410 ) (69,769 ) (41,078 ) — (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 — 483 (116 ) — 367 Equity in net earnings of subsidiaries (94,469 ) — — 94,469 — Total other income (expense) (141,871 ) 536 1,479 94,469 (45,387 ) Income (loss) before income taxes (142,281 ) (69,233 ) (39,599 ) 94,469 (156,644 ) Income tax expense (benefit): Current tax expense 40,562 (35,251 ) (203 ) — 5,108 Deferred tax expense (benefit) 47,971 14,940 6,151 — 69,062 Total income tax expense (benefit) 88,533 (20,311 ) 5,948 — 74,170 Net income (loss) (230,814 ) (48,922 ) (45,547 ) 94,469 (230,814 ) Less: Convertible preferred stock dividend — — — — — Net income (loss) available to common stockholders $ (230,814 ) $ (48,922 ) $ (45,547 ) $ 94,469 $ (230,814 ) (1) General and administration expenses for field operations are included in operating expenses.
Consolidating Condensed Statement of Comprehensive Income (Loss)	CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year Ended December 31, 2018 Parent Guarantor Non-Guarantor Eliminations Consolidated Net income (loss) $ (165,697 ) $ (54,508 ) $ (33,040 ) $ 87,548 $ (165,697 ) Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (646 ) — $ (646 ) Currency translation difference on foreign currency net investments — — (2,721 ) — $ (2,721 ) Total other comprehensive income (loss), net of tax: — — (3,367 ) — (3,367 ) Comprehensive income (loss) $ (165,697 ) $ (54,508 ) $ (36,407 ) $ 87,548 $ (169,064 ) PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year Ended December 31, 2017 Parent Guarantor Non-Guarantor Eliminations Consolidated Net income (loss) $ (118,701 ) $ (1,655 ) $ (39,097 ) $ 40,752 $ (118,701 ) Other comprehensive income (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 income (loss), net of tax: — — 3,332 — 3,332 Comprehensive income (loss) $ (118,701 ) $ (1,655 ) $ (35,765 ) $ 40,752 $ (115,369 ) PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Year ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Net income (loss) $ (230,814 ) $ (48,922 ) $ (45,547 ) $ 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) $ (230,814 ) $ (48,922 ) $ (50,503 ) $ 94,469 $ (235,770 )
Consolidated Statements of Cash Flows	PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATED STATEMENT OF CASH FLOWS (Dollars in Thousands) (Unaudited) Year Ended December 31, 2018 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (165,697 ) $ (54,508 ) $ (33,040 ) $ 87,548 $ (165,697 ) Adjustments to reconcile net income (loss): — Depreciation and amortization — 76,353 31,192 — 107,545 Gain (loss) on disposition of assets, net — 1,347 377 — 1,724 Deferred tax expense (benefit) 13,226 (11,865 ) (1,790 ) — (429 ) Loss on impairment — 40,917 9,781 — 50,698 Reorganization items 7,538 — — — 7,538 Expenses not requiring cash 4,526 (302 ) (8,498 ) 9,425 5,151 Equity in net earnings (losses) of subsidiaries 87,548 — — (87,548 ) — Change in assets and liabilities: Accounts and notes receivable — (16,244 ) 1,009 — (15,235 ) Rig materials and supplies — (4,454 ) 5,296 (593 ) 249 Other current assets (8,088 ) (4,854 ) 2,082 — (10,860 ) Other non-current assets 1,042 3,315 8,763 (101 ) 13,019 Accounts payable and accrued liabilities (63,054 ) 57,305 7,207 (10,947 ) (9,489 ) Accrued income taxes 11,611 (10,415 ) (2,460 ) — (1,264 ) Net cash provided by (used in) operating activities (111,348 ) 76,595 19,919 (2,216 ) (17,050 ) Cash flows from investing activities: Capital expenditures — (56,897 ) (13,670 ) — (70,567 ) Proceeds from the sale of assets — 87 1,266 — 1,353 Net cash provided by (used in) investing activities — (56,810 ) (12,404 ) — (69,214 ) Cash flows from financing activities: Proceeds from borrowing under DIP facility 10,000 — — — 10,000 Payment of DIP facility costs (975 ) — — — (975 ) Convertible preferred stock dividend (3,625 ) — — — (3,625 ) Payments of debt issuance costs (1,443 ) — — — (1,443 ) Shares surrendered in lieu of tax (251 ) — — — (251 ) Intercompany advances, net 48,594 (31,119 ) (19,691 ) 2,216 — Net cash provided by (used in) financing activities 52,300 (31,119 ) (19,691 ) 2,216 3,706 Net increase (decrease) in cash, cash equivalents and restricted cash (59,048 ) (11,334 ) (12,176 ) — (82,558 ) Cash, cash equivalents and restricted cash at beginning of period 75,342 20,655 45,552 — 141,549 Cash, cash equivalents and restricted cash at end of period $ 16,294 $ 9,321 $ 33,376 $ — $ 58,991 PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATED STATEMENT 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 ) $ (1,655 ) $ (39,097 ) $ 40,752 (118,701 ) Adjustments to reconcile net income (loss): — Depreciation and amortization — 81,248 41,125 — 122,373 Gain (loss) on disposition of assets, net — 243 2,608 — 2,851 Deferred tax expense (benefit) 4,785 (7,763 ) 2,754 — (224 ) Provision for reduction in carrying value of certain assets — — 1,938 — 1,938 Expenses not requiring cash 5,651 4,793 4,869 (11,062 ) 4,251 Equity in net earnings (losses) of subsidiaries 40,752 — — (40,752 ) — Change in assets and liabilities: Accounts and notes receivable — (16,552 ) 13,495 (6,571 ) (9,628 ) Rig materials and supplies — (1,869 ) 6,579 — 4,710 Other current assets (50,296 ) 34,096 14,881 — (1,319 ) Other non-current assets 361 (1,542 ) 3,234 6,605 8,658 Accounts payable and accrued liabilities (41,885 ) 30,359 (7,925 ) 10,737 (8,714 ) Accrued income taxes 79,319 (61,233 ) (17,548 ) — 538 Net cash provided by (used in) operating activities (80,014 ) 60,125 26,913 (291 ) 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 convertible preferred stock 50,000 — — — 50,000 Payment of equity issuance costs (2,864 ) — — — (2,864 ) Convertible preferred stock dividend (2,145 ) — — — (2,145 ) Shares surrendered in lieu of tax (936 ) — — — (936 ) Intercompany advances, net 21,101 (10,753 ) (10,639 ) 291 — Net cash provided by (used in) financing activities 90,356 (10,753 ) (10,639 ) 291 69,255 Net increase (decrease) in cash, cash equivalents and restricted cash 10,342 6,450 5,066 — 21,858 Cash and cash equivalents at beginning of period 65,000 14,205 40,486 — 119,691 Cash and cash equivalents at end of period $ 75,342 $ 20,655 $ 45,552 $ — $ 141,549 PARKER DRILLING COMPANY AND SUBSIDIARIES (DEBTOR IN POSSESSION) CONSOLIDATED STATEMENT 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 ) $ (48,922 ) $ (45,547 ) $ 94,469 $ (230,814 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 90,197 49,598 — 139,795 (Gain) loss on debt modification 1,088 — — — 1,088 Accretion of contingent consideration — 419 — — 419 Gain (loss) on disposition of assets, net — 565 1,048 — 1,613 Deferred tax expense (benefit) 47,971 14,940 6,151 — 69,062 Expenses not requiring cash 9,545 (4,900 ) (2,127 ) — 2,518 Equity in net earnings of subsidiaries 94,469 — — (94,469 ) — Change in assets and liabilities: Accounts and notes receivable — 25,848 34,543 — 60,391 Rig materials and supplies — (361 ) (1,391 ) — (1,752 ) Other current assets 50,296 (34,479 ) (13,677 ) — 2,140 Other non-current assets (299 ) 441 3,755 — 3,897 Accounts payable and accrued liabilities (121,016 ) 99,511 2,011 — (19,494 ) Accrued income taxes (10,381 ) (1,134 ) 5,093 — (6,422 ) Net cash provided by (used in) operating activities (159,141 ) 142,125 39,457 — 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 ) 519 (6,137 ) — (14,603 ) Cash and cash equivalents at beginning of period 73,985 13,686 46,623 — 134,294 Cash and cash equivalents at end of period $ 65,000 $ 14,205 $ 40,486 $ — $ 119,691

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	Jul. 27, 2018	Dec. 31, 2018USD ($)country	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)country	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Revenue, Major Customer [Line Items]
Number of countries entity has operated in since inception (more than) | country		50								50
Percentage accounted for under the equity method		50.00%								50.00%
Cash and cash equivalents		$ 48,602				$ 141,549				$ 48,602	$ 141,549
Restricted cash		10,389				0				10,389	0
Cash, cash equivalents and restricted cash at end of period		58,991				141,549				58,991	141,549	$ 119,691	$ 134,294
Cash collateral paid in support of letters of credit outstanding										9,800
Compensating balance		600								600
Capitalized interest costs of construction of rigs										$ 100	0	200
Consumed and replenished period										1 year
Revenues		129,148	$ 123,395	$ 118,603	$ 109,675	116,334	$ 118,308	$ 109,607	$ 98,271	$ 480,821	442,520	427,004
Deposits in domestic bank		27,500				97,600				27,500	97,600
Deposits in foreign banks		$ 32,900				$ 45,600				$ 32,900	$ 45,600
Reverse stock split ratio	15
Series A Mandatory Convertible Preferred Stock
Revenue, Major Customer [Line Items]
Preferred stock, stated interest rate										7.25%	7.25%
Reimbursable revenue
Revenue, Major Customer [Line Items]
Revenues										$ 54,600	$ 57,800	69,300
Exxon Neftegas Limited (ENL) | Reimbursable revenue
Revenue, Major Customer [Line Items]
Revenues										$ 47,200	$ 50,800	$ 67,000
Customer Concentration Risk | Sales Revenue, Net | Exxon Neftegas Limited (ENL)
Revenue, Major Customer [Line Items]
Percentage of revenue from major customer										25.70%	31.30%	38.70%
Customer Concentration Risk | Sales Revenue, Net of Reimbursable Revenues | Exxon Neftegas Limited (ENL)
Revenue, Major Customer [Line Items]
Percentage of revenue from major customer										17.90%	22.70%	27.50%
International & Alaska Drilling | Customer Concentration Risk | Sales Revenue, Net | Exxon Neftegas Limited (ENL)
Revenue, Major Customer [Line Items]
Percentage of revenue from major customer										58.00%	55.90%	57.50%
International & Alaska Drilling | Customer Concentration Risk | Sales Revenue, Net of Reimbursable Revenues | Exxon Neftegas Limited (ENL)
Revenue, Major Customer [Line Items]
Percentage of revenue from major customer										48.00%	46.10%	45.00%
Minimum
Revenue, Major Customer [Line Items]
Estimated Useful Life (Years)										3 years
Maximum
Revenue, Major Customer [Line Items]
Estimated Useful Life (Years)										6 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Total Accounts and Notes Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Trade	$ 144,204	$ 130,075
Allowance for bad debt	(7,767)	(7,564)
Total accounts and notes receivable, net of allowance for bad debt	$ 136,437	$ 122,511

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Depreciable Lives for Different Categories of Property Plant and Equipment (Detail)	12 Months Ended
	Dec. 31, 2017
Computer, office equipment and other | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years
Computer, office equipment and other | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	10 years
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

Chapter 11 Cases - Narrative (D

Chapter 11 Cases - Narrative (Details) - USD ($)	Dec. 12, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 13, 2018	Jan. 22, 2014	Jul. 30, 2013
Plan of Reorganization [Abstract]
7.50% Notes, pro rata share of common stock, percent					34.30%
7.50% Notes, pro rata share of new second lien term loan, amount					$ 92,600,000
7.50% Notes, pro rata share of subscription rights, percent					24.30%
6.75% Notes, pro rata share of common stock, percent					62.90%
6.75% Notes, pro rata share of new second lien term loan, amount					$ 117,400,000
6.75% Notes, pro rata share of subscription rights, percent					38.90%
Preferred Holders, pro rata share of common stock, percent					1.10%
Preferred Holders, pro rata share of subscription rights, percent					14.70%
Preferred Holders, pro rata share of warrants, percent					40.00%
Preferred Holders, pro rata share of new common stock purchasable under warrants, percent					13.50%
Common Holders, pro rata share of common stock, percent					1.65%
Common Holders, pro rata share of subscription rights, percent					22.10%
Common Holders, pro rata share of warrants, percent					60.00%
Debtor-in-Possession Financing [Abstract]
Aggregate principal amount under Debtor-in-Possession Financing					$ 50,000,000
DIP Financing, percent of aggregate net amount of eligible domestic accounts receivable					85.00%
DIP Financing, percent of aggregate net amount of eligible domestic accounts receivable calculation, percent of net book value of eligible rental equipment					90.00%
DIP Financing, percent of aggregate net amount of eligible domestic accounts receivable calculation, percent of net equipment liquidation value of eligible rental equipment					60.00%
DIP Financing, percent of aggregate net amount of eligible domestic accounts receivable calculation, amount less reserve for items stated in DIP term sheet					$ 37,500,000
Debtor in possession financing		$ 10,000,000	$ 0
DIP Financing, amount available		40,000,000
Increase in aggregate principal amount	$ 100,000,000
Backstop commitment agreement, aggregate purchase price	95,000,000
Payments of cash put option premium on backstop commitment agreement	$ 7,600,000
Percent of common stock to be remitted upon Backstop Commitment Agreement occurrence	3.40%
Pre-petition restructuring charges		21,820,000	0	$ 0
(Gain) loss on debt modification		9,789,000	0
Liabilities subject to compromise		$ 600,996,000	$ 0
Standby Letters of Credit
Debtor-in-Possession Financing [Abstract]
Aggregate principal amount under Debtor-in-Possession Financing					20,000,000
Standby and Commercial Letters of Credit
Debtor-in-Possession Financing [Abstract]
Aggregate principal amount under Debtor-in-Possession Financing					30,000,000
Standby and Commercial Letters of Credit | Second Lien Exit Facility
Debtor-in-Possession Financing [Abstract]
Debtor in possession financing					$ 210,000,000
7.50% Notes
Restructuring Cost and Reserve [Line Items]
Debt instrument fixed interest rate		7.50%					7.50%
Debtor-in-Possession Financing [Abstract]
Liabilities subject to compromise, long-term debt		$ 225,000,000
6.75% Notes
Restructuring Cost and Reserve [Line Items]
Debt instrument fixed interest rate		6.75%				6.75%
Debtor-in-Possession Financing [Abstract]
Liabilities subject to compromise, long-term debt		$ 360,000,000
Senior Notes
Debtor-in-Possession Financing [Abstract]
Liabilities subject to compromise, long-term debt		15,996,000
Contractual interest expense		41,200,000
Interest expense in excess of contractual interest expense		$ 39,100,000
Series A Mandatory Convertible Preferred Stock
Restructuring Cost and Reserve [Line Items]
Preferred stock, stated interest rate		7.25%	7.25%

Chapter 11 Cases - Reorganizati

Chapter 11 Cases - Reorganization Items and Liabilities Subject to Compromise (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Jan. 22, 2014	Jul. 30, 2013
Restructuring Cost and Reserve [Line Items]
Professional fees	$ 2,251
DIP facility costs	975
(Gain) loss on debt modification	9,789	$ 0
Liabilities subject to compromise	600,996	$ 0
6.75% Notes
Restructuring Cost and Reserve [Line Items]
Unamortized debt issuance expense	$ 3,775
Debt instrument fixed interest rate	6.75%		6.75%
Liabilities subject to compromise, long-term debt	$ 360,000
7.50% Notes
Restructuring Cost and Reserve [Line Items]
Unamortized debt issuance expense	$ 1,580
Debt instrument fixed interest rate	7.50%			7.50%
Liabilities subject to compromise, long-term debt	$ 225,000
Senior Notes
Restructuring Cost and Reserve [Line Items]
Liabilities subject to compromise, long-term debt	15,996
2015 Secured Credit Agreement
Restructuring Cost and Reserve [Line Items]
Unamortized debt issuance expense	$ 1,208

Chapter 11 Cases - Debtor in Po

Chapter 11 Cases - Debtor in Possession Financial Statements (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 48,602				$ 141,549				$ 48,602	$ 141,549
Restricted cash	10,389				0				10,389	0
Accounts and Notes Receivable, net of allowance for bad debts of $7,767 at December 31, 2018 and $7,564 at December 31, 2017	136,437				122,511				136,437	122,511
Rig materials and supplies	36,245				31,415				36,245	31,415
Deferred costs	4,353				3,145				4,353	3,145
Other tax assets	2,949				4,889				2,949	4,889
Other current assets	27,929				14,327				27,929	14,327
Total current assets	266,904				317,836				266,904	317,836
Property, plant and equipment, net of accumulated depreciation of $951,798 at December 31, 2018 and $1,343,105 at December 31, 2017 (Note 3)	534,371				625,771				534,371	625,771
Intangible assets, net (Note 4)	4,821				7,128				4,821	7,128
Rig materials and supplies	12,971				18,788				12,971	18,788
Deferred income taxes	2,143				1,284				2,143	1,284
Other non-current assets	7,204				12,764				7,204	12,764
Total assets	828,414				990,279				828,414	990,279
Current Liabilities:
Debtor in possession financing (Note 2)	10,000				0				10,000	0
Accounts payable	39,678				41,523				39,678	41,523
Accrued liabilities	35,385				57,723				35,385	57,723
Accrued income taxes	3,385				4,430				3,385	4,430
Total current liabilities	88,448				103,676				88,448	103,676
Other long-term liabilities	11,544				12,433				11,544	12,433
Long-term deferred tax liability	510				78				510	78
Total liabilities not subject to compromise	100,502				694,158				100,502	694,158
Liabilities subject to compromise (Note 2)	600,996				0				600,996	0
Total stockholder's equity	126,916				296,121				126,916	296,121	$ 339,135	$ 568,512
Total liabilities and stockholders’ equity	828,414				990,279				828,414	990,279
Accumulated Depreciation	951,798				1,343,105				951,798	1,343,105
Intra-entity receivables	174,700								174,700
Intragroup payables	213,200								213,200
Intragroup liabilities	314,600								314,600
Debtor-In-Possession, Statement Of Operations [Abstract]
Revenues	129,148	$ 123,395	$ 118,603	$ 109,675	116,334	$ 118,308	$ 109,607	$ 98,271	480,821	442,520	427,004
Expenses:
Operating expenses									378,104	355,487	362,521
Depreciation and amortization									107,545	122,373	139,795
Total expenses									485,649	477,860	502,316
Total operating gross margin (loss)	3,815	1,932	(167)	(10,408)	(4,700)	121	(11,016)	(19,745)	(4,828)	(35,340)	(75,312)
General and administrative expense									(24,545)	(25,676)	(34,332)
Loss on impairment									(50,698)	0	0
Gain (loss) on disposition of assets, net									(1,724)	(2,851)	(1,613)
Pre-petition restructuring charges									(21,820)	0	0
Reorganization items									(9,789)	0
Total operating income (loss)	(31,661)	(56,544)	(8,933)	(16,266)	(14,221)	(6,815)	(17,632)	(27,137)	(113,404)	(65,805)	(111,257)
Other income (expense):
Interest expense									(42,565)	(44,226)	(45,812)
Interest income									91	244	58
Other									(2,023)	126	367
Equity in net earnings of subsidiaries									0	0	0
Total other income (expense)									(44,497)	(43,856)	(45,387)
Income (loss) before income taxes									(157,901)	(109,661)	(156,644)
Current tax expense									8,225	9,264	5,108
Deferred tax expense (benefit)									(429)	(224)	69,062
Total income tax expense (benefit)									7,796	9,040	74,170
Net income (loss)	(43,073)	(70,951)	(22,877)	(28,796)	(28,693)	(20,311)	(29,888)	(39,809)	(165,697)	(118,701)	(230,814)
Less: Convertible preferred stock dividend									2,719	3,051	0
Net income (loss) available to common stockholders	(43,073)	(71,857)	(23,784)	(29,702)	(29,599)	(21,217)	(31,127)	(39,809)	(168,416)	(121,752)	(230,814)
Cash flows from operating activities:
Net income (loss)	(43,073)	$ (70,951)	$ (22,877)	(28,796)	(28,693)	$ (20,311)	$ (29,888)	(39,809)	(165,697)	(118,701)	(230,814)
Adjustments to reconcile net income (loss):
Depreciation and amortization									107,545	122,373	139,795
Gain (loss) on disposition of assets, net									1,724	2,851	1,613
Deferred tax expense (benefit)									(429)	(224)	69,062
Loss on impairment									50,698	0	0
Equity in net earnings of subsidiaries									7,538	0	0
Expenses not requiring cash									5,151	4,251	2,518
Equity in net earnings of subsidiaries									0	0	0
Change in assets and liabilities:
Accounts and notes receivable									(15,235)	(9,628)	60,391
Rig materials and supplies									249	4,710	(1,752)
Other current assets									(10,860)	(1,319)	2,140
Other non-current assets									13,019	8,658	3,897
Accounts payable and accrued liabilities									(9,489)	(8,714)	(19,494)
Accrued income taxes									(1,264)	538	(6,422)
Net cash provided by (used in) operating activities									(17,050)	6,733	22,441
Cash flows from investing activities:
Capital expenditures									(70,567)	(54,533)	(28,954)
Proceeds from the sale of assets									1,353	403	2,441
Net cash provided by (used in) investing activities									(69,214)	(54,130)	(26,513)
Cash flows from financing activities:
Proceeds from borrowing under DIP facility									10,000	0	0
Payment of DIP facility costs									(975)	0	0
Convertible preferred stock dividend									(3,625)	(2,145)	0
Payments of debt issuance costs									(1,443)	0	0
Shares surrendered in lieu of tax									(251)	(936)	(1,156)
Net cash provided by (used in) financing activities									3,706	69,255	(10,531)
Net increase (decrease) in cash, cash equivalents and restricted cash									(82,558)	21,858	(14,603)
Cash, cash equivalents and restricted cash at beginning of period				141,549				$ 119,691	141,549	119,691	134,294
Cash, cash equivalents and restricted cash at end of period	58,991				141,549				58,991	141,549	$ 119,691
Parker Drilling Company, Debtor-in-Possession
Current assets:
Cash and cash equivalents	15,226								15,226
Restricted cash	10,389								10,389
Accounts and Notes Receivable, net of allowance for bad debts of $7,767 at December 31, 2018 and $7,564 at December 31, 2017	223,296								223,296
Rig materials and supplies	1,650								1,650
Deferred costs	975								975
Other tax assets	183,356								183,356
Other current assets	18,329								18,329
Total current assets	453,221								453,221
Property, plant and equipment, net of accumulated depreciation of $951,798 at December 31, 2018 and $1,343,105 at December 31, 2017 (Note 3)	369,510								369,510
Intangible assets, net (Note 4)	4,821								4,821
Rig materials and supplies	7,036								7,036
Deferred income taxes	23,576								23,576
Intra-group advances	549,460								549,460
Investment in subsidiaries	893,550								893,550
Other non-current assets	1,452								1,452
Total assets	2,302,626								2,302,626
Current Liabilities:
Debtor in possession financing (Note 2)	10,000								10,000
Accounts payable	286,840								286,840
Accrued liabilities	28,184								28,184
Accrued income taxes	204,518								204,518
Total current liabilities	529,542								529,542
Other long-term liabilities	728,218								728,218
Long-term deferred tax liability	36,463								36,463
Total liabilities not subject to compromise	1,294,223								1,294,223
Liabilities subject to compromise (Note 2)	600,996								600,996
Total stockholder's equity	407,407								407,407
Total liabilities and stockholders’ equity	2,302,626								2,302,626
Allowance for doubtful accounts receivable	808								808
Accumulated Depreciation	526,166								526,166
Debtor-In-Possession, Statement Of Operations [Abstract]
Revenues									203,585
Expenses:
Operating expenses									115,269
Depreciation and amortization									76,353
Total expenses									191,622
Total operating gross margin (loss)									11,963
General and administrative expense									(23,539)
Loss on impairment									(40,917)
Gain (loss) on disposition of assets, net									(1,347)
Pre-petition restructuring charges									(21,820)
Reorganization items									9,789
Total operating income (loss)									(85,449)
Other income (expense):
Interest expense									(45,488)
Interest income									1,152
Other									6
Equity in net earnings of subsidiaries									(33,040)
Total other income (expense)									(77,370)
Income (loss) before income taxes									(162,819)
Current tax expense									1,517
Deferred tax expense (benefit)									1,361
Total income tax expense (benefit)									2,878
Net income (loss)									(165,697)
Less: Convertible preferred stock dividend									2,719
Net income (loss) available to common stockholders									(168,416)
Cash flows from operating activities:
Net income (loss)									(165,697)
Adjustments to reconcile net income (loss):
Depreciation and amortization									76,353
Gain (loss) on disposition of assets, net									1,347
Deferred tax expense (benefit)									1,361
Loss on impairment									40,917
Equity in net earnings of subsidiaries									7,538
Expenses not requiring cash									4,224
Equity in net earnings of subsidiaries									(33,040)
Change in assets and liabilities:
Accounts and notes receivable									(2,189)
Rig materials and supplies									(4,454)
Other current assets									(41,564)
Other non-current assets									2,586
Accounts payable and accrued liabilities									(559)
Accrued income taxes									29,818
Net cash provided by (used in) operating activities									(17,279)
Cash flows from investing activities:
Capital expenditures									(56,897)
Proceeds from the sale of assets									87
Net cash provided by (used in) investing activities									(56,810)
Cash flows from financing activities:
Proceeds from borrowing under DIP facility									10,000
Payment of DIP facility costs									(975)
Convertible preferred stock dividend									(3,625)
Payments of debt issuance costs									(1,443)
Shares surrendered in lieu of tax									(251)
Net cash provided by (used in) financing activities									3,706
Net increase (decrease) in cash, cash equivalents and restricted cash									(70,383)
Cash, cash equivalents and restricted cash at beginning of period				$ 95,998					95,998
Cash, cash equivalents and restricted cash at end of period	$ 25,615				$ 95,998				$ 25,615	$ 95,998

Property Plant and Equipment (D

Property Plant and Equipment (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2018business_line	Dec. 31, 2018USD ($)business_line	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost		$ 1,486,169,000	$ 1,968,876,000
Less: Accumulated depreciation and amortization		951,798,000	1,343,105,000
Property, plant, and equipment, net		534,371,000	625,771,000
Depreciation		$ 105,200,000	119,600,000	$ 136,300,000
Number of business lines | business_line	2	2
Loss on impairment		$ 50,698,000	0	0
Provision for reduction in carrying value of certain assets		0	1,938,000	0
Gain (loss) on disposition of assets, net		(1,724,000)	(2,851,000)	$ (1,613,000)
Drilling equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost		720,037,000	1,228,443,000
Rental tools
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost		581,107,000	552,461,000
Building, land and improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost		58,193,000	60,309,000
Other
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost		115,977,000	115,910,000
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost		10,855,000	$ 11,753,000
Barge Rigs
Property, Plant and Equipment [Line Items]
Loss on impairment		44,000,000
Barge Rigs | Gulf of Mexico
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost		19,700,000
Loss on impairment		34,200,000
Barge Rigs | International
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost		3,400,000
Loss on impairment		$ 9,800,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets Change in Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2017	$ 6,708
Goodwill impairment	(6,708)
Balance at December 31, 2018	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill recognized and expected to be deductible for income tax purposes	$ 0
Amortization expense	$ 2,300,000	$ 2,800,000	$ 3,500,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets Intangible Assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 16,570
Write-off Due to Sale	(332)
Accumulated Amortization	(11,417)
Net Carrying Amount	4,821
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2019	2,306
2020	2,030
2021	485
2022	0
Beyond 2022	$ 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	(7,269)
Net Carrying Amount	$ 4,361
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	(4,148)
Net Carrying Amount	$ 460

Supplementary Accrued Liabili_3

Supplementary Accrued Liabilities Information - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accrued liabilities:
Accrued payroll & related benefits	$ 20,736	$ 27,252
Accrued interest expense	32	18,169
Accrued professional fees & other	9,578	7,888
Deferred mobilization fees	4,082	3,149
Workers’ compensation liabilities, net	957	1,265
Total accrued liabilities	$ 35,385	$ 57,723

Debt - Summary of Company's Cur

Debt - Summary of Company's Current Debt Portfolio (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Jan. 22, 2014	Jul. 30, 2013
Debt Instrument [Line Items]
Total principal	$ 585,000	$ 585,000
Less: unamortized debt issuance costs	0	(7,029)
Total debt	585,000	577,971
6.75% Senior Notes, due July 2022
Debt Instrument [Line Items]
Total principal	$ 360,000	360,000
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
Debt instrument fixed interest rate	7.50%			7.50%

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Oct. 30, 2018	Dec. 31, 2018	Feb. 14, 2018	Feb. 13, 2018	Jan. 26, 2015	Jan. 22, 2014	Jul. 30, 2013
Debt Instrument [Line Items]
Cash collateral paid in support of letters of credit outstanding		$ 9,800,000
2015 Secured Credit Agreement
Debt Instrument [Line Items]
Unamortized debt issuance expense		$ 1,208,000
Maximum borrowing capacity			$ 80,000,000	$ 100,000,000	$ 200,000,000
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
Cash collateral paid in support of letters of credit outstanding	$ 10,000,000
6.75% Senior Notes, due July 2022
Debt Instrument [Line Items]
Debt instrument fixed interest rate		6.75%				6.75%
Liabilities subject to compromise, long-term debt		$ 360,000,000
Aggregate principal amount						$ 360,000,000
Debt issuance costs		7,600,000
Unamortized debt issuance expense		$ 3,775,000
Redemption price, percent after year three		103.40%
Redemption price, percent after year five						101.00%
7.50% Notes
Debt Instrument [Line Items]
Debt instrument fixed interest rate		7.50%					7.50%
Liabilities subject to compromise, long-term debt		$ 225,000,000
Aggregate principal amount							$ 225,000,000
Debt issuance costs		5,600,000
Unamortized debt issuance expense		$ 1,580,000
Redemption price, percent after year five							101.00%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Values and Related Carrying Values of Debt Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Jan. 22, 2014	Jul. 30, 2013
6.75% Notes
Long-term Debt
Debt instrument fixed interest rate	6.75%		6.75%
7.50% Notes
Long-term Debt
Debt instrument fixed interest rate	7.50%			7.50%
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	297,000	502,538
Fair Value | 6.75% Notes
Long-term Debt
Long-term Debt	180,000	296,100
Fair Value | 7.50% Notes
Long-term Debt
Long-term Debt	$ 117,000	$ 206,438

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
United States	$ (145,954)	$ (89,233)	$ (131,106)
Foreign	(11,947)	(20,428)	(25,538)
Income (loss) before income taxes	$ (157,901)	$ (109,661)	$ (156,644)

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current tax expense
Federal	$ (14)	$ 80	$ (1,921)
State	229	54	(9)
Foreign	8,010	9,130	7,038
Total current tax expense	8,225	9,264	5,108
Deferred tax expense (benefit)
Federal	0	167	64,066
State	0	0	(47)
Foreign	(429)	(391)	5,043
Total deferred tax expense (benefit)	(429)	(224)	69,062
Total income tax expense (benefit)	$ 7,796	$ 9,040	$ 74,170

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, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Computed expected tax expense	$ (33,160)	$ (38,381)	$ (54,825)
Foreign taxes	7,321	13,084	12,688
Tax effect different from statutory rates	(68)	(2,048)	(3,629)
State taxes, net of federal benefit	(2,552)	35	(849)
Foreign tax credits	0	3	20
Change in valuation allowance (excluding impact of Tax Act)	28,353	30,704	117,707
Uncertain tax positions	(221)	194	(726)
Permanent differences	8,008	2,970	1,442
Prior year return to provision adjustments	50	2,442	2,078
Other	65	37	264
Impact of Tax Act
Effect of tax rate reduction on deferred tax	0	45,329	0
Effect of tax rate on deferred tax valuation	0	(45,329)	0
Total income tax expense (benefit)	$ 7,796	$ 9,040	$ 74,170
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Computed expected tax expense	21.00%	35.00%	35.00%
Foreign taxes	(4.60%)	(11.90%)	(8.10%)
Tax effect different from statutory rates	0.00%	1.90%	2.30%
State taxes, net of federal benefit	1.60%	0.00%	0.50%
Foreign tax credits	0.00%	0.00%	0.00%
Change in valuation allowance (excluding impact of Tax Act)	(18.00%)	(28.00%)	(75.10%)
Uncertain tax positions	0.10%	(0.20%)	0.50%
Permanent differences	(5.10%)	(2.70%)	(0.90%)
Prior year return to provision adjustments	0.00%	(2.30%)	(1.30%)
Other	0.10%	0.00%	(0.20%)
Impact of Tax Act, Percent
Effect of tax rate reduction on deferred tax	0.00%	(41.30%)	0.00%
Effect of tax rate on deferred tax valuation	0.00%	41.30%	0.00%
Actual Tax Expense, Percentage	(4.90%)	(8.20%)	(47.30%)

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Federal net operating loss carryforwards	$ 109,002	$ 95,867
State net operating loss carryforwards	13,168	11,089
Excess interest	6,230	0
Other state deferred tax asset, net	1,201	626
Foreign tax credits	46,913	46,913
FIN 48	887	953
Foreign tax	40,190	36,699
Accruals not currently deductible for tax purposes	3,119	2,926
Deferred compensation	816	1,204
Other	1,297	74
Total deferred tax assets	222,823	196,351
Valuation allowance	(186,267)	(157,914)
Net deferred tax assets, net of valuation allowance	36,556	38,437
Deferred tax liabilities:
Property, plant and equipment	(28,440)	(30,648)
Foreign tax local	(510)	(78)
Other state deferred tax liability, net	(5,096)	(5,174)
Intangibles	(877)	(1,331)
Total deferred tax liabilities	(34,923)	(37,231)
Net deferred tax asset	$ 1,633	$ 1,206

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Contingency [Line Items]
Change in valuation allowance (excluding impact of Tax Act)	$ 28,353	$ 30,704	$ 117,707
Liability for unrecognized tax benefits	5,728	5,395
Accrued interest and penalties related to uncertain tax positions	2,100	2,100
Unrecognized tax benefits, interest on tax expense	(100)
Unrecognized tax benefits, tax penalties	100
Deferred tax valuation allowance
Income Tax Contingency [Line Items]
Charged to cost and expenses	$ (28,353)	$ 14,625	$ (117,707)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ (5,395)
Reductions based on tax positions taken during a prior period	190
Additions based on tax positions taken during the current period	(523)
Ending balance	$ (5,728)

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Minimum Lease Payments Under Operating Leases with Non Cancelable Terms (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 10,722
2020	7,887
2021	4,193
2022	1,968
2023	1,540
Thereafter	636
Total	$ 26,946

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Rent expense for operating leases	$ 21,200,000	$ 23,800,000	$ 21,800,000
Exposure per occurrence, employees compensation	300,000
Aggregate self insured exposure per employer's liability	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
Gross self insurance accruals	2,400,000	3,200,000
Related insurance recoveries	$ 1,600,000	$ 1,900,000
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	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015	Jan. 22, 2014	Jul. 30, 2013
Related Party Transaction [Line Items]
Related party transaction, expense			$ 0
7.50% Notes
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]
Consultant fee				$ 300,000
Board of directors, service term	3 years
Employee One
Related Party Transaction [Line Items]
Related party transaction, expense		$ 100,000
Employee Two
Related Party Transaction [Line Items]
Related party transaction, expense		$ 100,000
Director | 7.50% Notes
Related Party Transaction [Line Items]
Notes payable, related parties					$ 600,000
Director | 6.75% Notes
Related Party Transaction [Line Items]
Notes payable, related parties					$ 700,000

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Awards (Details) $ / shares in Units, $ in Millions	Jul. 27, 2018	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Reverse stock split ratio	15
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)		302,338
Granted (in shares)		107,863	180,728	219,742
Vested (in shares)		(156,524)
Forfeited (in shares)		(18,079)
Nonvested, Ending Balance (in shares)		235,598	302,338
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) | $ / shares		$ 27.10
Granted (in dollars per share) | $ / shares		12.51	$ 21.19	$ 31.06
Vested (in dollars per share) | $ / shares		29.87
Forfeited (in dollars per share) | $ / shares		23.82
Nonvested, Ending Balance (in dollars per share) | $ / shares		$ 18.84	$ 27.10
Stock-based compensation expense, RSUs | $		$ 2.8	$ 4	$ 7.5
Fair value of units vested in period | $		4.7	$ 8.6	$ 10
Unrecognized compensation cost | $		$ 1.4
Weighted-average vesting period		27 months
Time-based Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Stock award vesting period		3 years
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)		68,759
Granted (in shares)		106,530	43,245	79,248
Vested (in shares)		(28,387)
Forfeited (in shares)		(4,117)
Nonvested, Ending Balance (in shares)		142,785	68,759
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Stock-based compensation expense, RSUs | $		$ 0.3	$ 0	$ 1.4
Time-based Phantom Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Stock award vesting period		1 year
Time-based Phantom Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Stock award vesting period		3 years
2010 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under stock plan		1,120,000
2010 Long-Term Incentive Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Shares remaining available under Stock Plan		252,072

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance-Based Awards (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Performance Cash Units
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)	23,021
Granted (in shares)	16,149	14,153	17,091
Vested (in shares)	(10,771)
Forfeited (in shares)	(791)
Nonvested, Ending Balance (in shares)	27,608	23,021
Stock-based compensation expense, RSUs	$ 0.2	$ 1	$ 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)	87,395
Granted (in shares)	107,645	44,020	77,652
Vested (in shares)	(48,937)
Forfeited (in shares)	(3,778)
Nonvested, Ending Balance (in shares)	142,325	87,395
Stock-based compensation expense, RSUs	$ (0.6)	$ (0.9)	$ 1.3

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands	Jul. 27, 2018	Jul. 12, 2018$ / sharesshares	Feb. 28, 2018$ / shares	Feb. 28, 2017USD ($)$ / sharesshares	Dec. 31, 2018$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares
Class of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares					$ 0.16667	$ 0.16667
Preferred stock, par value (in dollars per share) | $ / shares		$ 1			1	1
Preferred stock, liquidation preference per share (in dollars per share) | $ / shares					$ 100	$ 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) | $ / shares			$ 1.8125		$ 1.8125
Rights, exercise price (in dollars per share) | $ / shares		$ 52.5
Period following public announcement of acquisition of 10% or more of outstanding shares		10 days
Percentage threshold for triggering event		4.90%
Period following tender offer for acquisition		10 days
Discount on share price if rights are exercisable		50.00%
Number of shares exchangeable if right become exercisable | shares		2
Reverse stock split ratio	15
Common Stock
Class of Stock [Line Items]
Common stock, shares issued | shares				800,000		800,000	[1]
Pre-split shares issued (in shares) | shares				12,000,000
Shares issued, price per share (in dollars per share) | $ / shares				$ 2.1
Issuance of common stock and issuance of mandatory convertible preferred stock | $						$ 24,059
Common Stock | Maximum
Class of Stock [Line Items]
Conversion rate (in shares) | shares					3.2
Common Stock | Minimum
Class of Stock [Line Items]
Conversion rate (in shares) | shares					2.8
Convertible Preferred Stock
Class of Stock [Line Items]
Common stock, shares issued | shares				500,000		500,000	[1]
Issuance of common stock and issuance of mandatory convertible preferred stock | $						$ 48,277
Series A Mandatory Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, stated interest rate					7.25%	7.25%
[1]	See Note 12 - Stockholders' Equity for details regarding the 1-for- 15

Earnings (Loss) Per Share (EP_3

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) $ / shares in Units, $ in Thousands		Jul. 27, 2018	Dec. 31, 2018USD ($)$ / shares	Sep. 30, 2018USD ($)$ / shares	Jun. 30, 2018USD ($)$ / shares	Mar. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares	Sep. 30, 2017USD ($)$ / shares	Jun. 30, 2017USD ($)$ / shares	Mar. 31, 2017USD ($)$ / shares	Dec. 31, 2018USD ($)$ / sharesshares		Dec. 31, 2017USD ($)$ / sharesshares		Dec. 31, 2016USD ($)$ / sharesshares
Earnings Per Share [Abstract]
Reverse stock split ratio		15
Net income (loss) available to common stockholders (numerator) | $			$ (43,073)	$ (71,857)	$ (23,784)	$ (29,702)	$ (29,599)	$ (21,217)	$ (31,127)	$ (39,809)	$ (168,416)		$ (121,752)		$ (230,814)
Weighted average shares outstanding	[1]										9,311,722		9,084,456		8,275,334
Basic earnings (loss) per common share (in dollars per share) | $ / shares			$ (4.60)	$ (7.70)	$ (2.56)	$ (3.21)	$ (3.20)	$ (2.30)	$ (3.39)	$ (4.59)	$ (18.09)	[1]	$ (13.40)	[1]	$ (27.89)	[1]
Restricted stock units (in shares)											0		0		0
Convertible preferred stock (in shares)											0		0		0
Diluted earnings (loss) per common share	[1]										9,311,722		9,084,456		8,275,334
Diluted earnings (loss) per common share (in dollars per share) | $ / shares			$ (4.60)	$ (7.70)	$ (2.56)	$ (3.21)	$ (3.20)	$ (2.30)	$ (3.39)	$ (4.59)	$ (18.09)	[1]	$ (13.40)	[1]	$ (27.89)	[1]
Shares excluded from the computation of diluted EPS											1,587,300
[1]	See Note 12 - Stockholders' Equity for details regarding the 1-for- 15

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Details) $ in Thousands	3 Months Ended								9 Months Ended	12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Sep. 30, 2018business_line	Dec. 31, 2018USD ($)business_line	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Revenue from Contract with Customer [Abstract]
Number of business lines | business_line									2	2
Disaggregation of Revenue [Line Items]
Typical payment term (in days)										30 days
Revenues	$ 129,148	$ 123,395	$ 118,603	$ 109,675	$ 116,334	$ 118,308	$ 109,607	$ 98,271		$ 480,821	$ 442,520	$ 427,004
Capitalized mobilization costs	$ 5,300				$ 3,100					5,300	3,100
Amortization of capitalized mobilization cost										$ 6,700	1,200
Minimum
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period										2
Maximum
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period										60
Reimbursable revenue
Disaggregation of Revenue [Line Items]
Revenues										$ 54,600	$ 57,800	$ 69,300

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of Accounts And Notes Receivable And Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract Liabilities - current		$ 4,081	$ 1,581
Contract Liabilities - noncurrent		2,441	1,568
Total contract liabilities	$ 6,522	$ 6,522	$ 3,149
Change in Contract with Customer, Liability [Roll Forward]
Contract Liabilities, beginning balance	(3,149)
Decrease due to recognition of revenue	4,879
Increase to deferred revenue during current period	(8,252)
Contract Liabilities, ending balance	$ (6,522)

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Summary of Future Obligations (Details) $ in Thousands	Dec. 31, 2018USD ($)
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 6,522
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 4,071
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 898
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 872
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 681
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Postemployment Benefits [Abstract]
Company's matching contribution percent	25.00%	25.00%
Percent of participant's compensation	6.00%
Matching contribution costs to the Plan	$ 0.6	$ 0.7	$ 1.1
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	3 Months Ended								9 Months Ended	12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Sep. 30, 2018business_line	Dec. 31, 2018USD ($)business_linesegmentft	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Number of business lines | business_line									2	2
Number of reportable segments | segment										2
Number of reportable subsegments | segment										4
Revenues	$ 129,148	$ 123,395	$ 118,603	$ 109,675	$ 116,334	$ 118,308	$ 109,607	$ 98,271		$ 480,821	$ 442,520	$ 427,004
Depreciation and amortization										$ 107,545	122,373	139,795
Consumed and replenished period										1 year
Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization										$ 8,400	8,700	8,300
Reimbursable revenue
Segment Reporting Information [Line Items]
Revenues										54,600	57,800	69,300
Exxon Neftegas Limited (ENL) | Reimbursable revenue
Segment Reporting Information [Line Items]
Revenues										$ 47,200	$ 50,800	$ 67,000
Exxon Neftegas Limited (ENL) | Customer Concentration Risk | Sales Revenue, Net
Segment Reporting Information [Line Items]
Percentage of revenue from major customer										25.70%	31.30%	38.70%
Exxon Neftegas Limited (ENL) | Customer Concentration Risk | Sales Revenue, Net of Reimbursable Revenues
Segment Reporting Information [Line Items]
Percentage of revenue from major customer										17.90%	22.70%	27.50%
International & Alaska Drilling | Exxon Neftegas Limited (ENL) | Customer Concentration Risk | Sales Revenue, Net
Segment Reporting Information [Line Items]
Percentage of revenue from major customer										58.00%	55.90%	57.50%
International & Alaska Drilling | Exxon Neftegas Limited (ENL) | Customer Concentration Risk | Sales Revenue, Net of Reimbursable Revenues
Segment Reporting Information [Line Items]
Percentage of revenue from major customer										48.00%	46.10%	45.00%
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 ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues:
Revenues									$ 480,821,000	$ 442,520,000	$ 427,004,000
Operating income:
Total operating gross margin (loss)	$ 3,815,000	$ 1,932,000	$ (167,000)	$ (10,408,000)	$ (4,700,000)	$ 121,000	$ (11,016,000)	$ (19,745,000)	(4,828,000)	(35,340,000)	(75,312,000)
General and administrative expense									(24,545,000)	(25,676,000)	(34,332,000)
Loss on impairment									(50,698,000)	0	0
Provision for reduction in carrying value of certain assets									0	(1,938,000)	0
Gain (loss) on disposition of assets, net									(1,724,000)	(2,851,000)	(1,613,000)
Pre-petition restructuring charges									(21,820,000)	0	0
Reorganization items									(9,789,000)	0
Total operating income (loss)	(31,661,000)	$ (56,544,000)	$ (8,933,000)	$ (16,266,000)	(14,221,000)	$ (6,815,000)	$ (17,632,000)	$ (27,137,000)	(113,404,000)	(65,805,000)	(111,257,000)
Interest expense									(42,565,000)	(44,226,000)	(45,812,000)
Interest income									91,000	244,000	58,000
Other									(2,023,000)	126,000	367,000
Income (loss) before income taxes									(157,901,000)	(109,661,000)	(156,644,000)
Capital expenditures:
Total capital expenditures									70,567,000	54,533,000	28,954,000
Depreciation and amortization:
Total depreciation and amortization									107,545,000	122,373,000	139,795,000
Identifiable assets:
Total assets	828,414,000				990,279,000				828,414,000	990,279,000
Operating Segments
Identifiable assets:
Total assets	759,733,000				851,908,000				759,733,000	851,908,000
Corporate
Capital expenditures:
Total capital expenditures									859,000	2,098,000	2,859,000
Depreciation and amortization:
Total depreciation and amortization									8,400,000	8,700,000	8,300,000
Identifiable assets:
Total assets	68,681,000				138,371,000				68,681,000	138,371,000
Drilling Services:
Revenues:
Revenues									225,140,000	259,643,000	292,761,000
Operating income:
Total operating gross margin (loss)									(37,656,000)	(26,904,000)	(25,081,000)
U.S. (Lower 48) Drilling
Revenues:
Revenues									11,729,000	12,389,000	5,429,000
Operating income:
Total operating gross margin (loss)									(15,720,000)	(20,656,000)	(34,353,000)
U.S. (Lower 48) Drilling | Operating Segments
Capital expenditures:
Total capital expenditures									444,000	230,000	264,000
Depreciation and amortization:
Total depreciation and amortization									7,758,000	13,521,000	20,049,000
Identifiable assets:
Total assets	30,283,000				62,980,000				30,283,000	62,980,000
International & Alaska Drilling
Revenues:
Revenues									213,411,000	247,254,000	287,332,000
Operating income:
Total operating gross margin (loss)									(21,936,000)	(6,248,000)	9,272,000
International & Alaska Drilling | Operating Segments
Capital expenditures:
Total capital expenditures									7,444,000	3,673,000	5,258,000
Depreciation and amortization:
Total depreciation and amortization									36,072,000	46,950,000	55,236,000
Identifiable assets:
Total assets	366,856,000				421,753,000				366,856,000	421,753,000
Rental Tools Services:
Revenues:
Revenues									255,681,000	182,877,000	134,243,000
Operating income:
Total operating gross margin (loss)									32,828,000	(8,436,000)	(50,231,000)
U.S. Rental Tools
Revenues:
Revenues									176,531,000	121,937,000	71,613,000
Operating income:
Total operating gross margin (loss)									44,512,000	15,651,000	(22,372,000)
U.S. Rental Tools | Operating Segments
Capital expenditures:
Total capital expenditures									55,545,000	39,948,000	10,848,000
Depreciation and amortization:
Total depreciation and amortization									48,167,000	43,489,000	43,769,000
Identifiable assets:
Total assets	216,123,000				198,664,000				216,123,000	198,664,000
International Rental Tools
Revenues:
Revenues									79,150,000	60,940,000	62,630,000
Operating income:
Total operating gross margin (loss)									(11,684,000)	(24,087,000)	(27,859,000)
International Rental Tools | Operating Segments
Capital expenditures:
Total capital expenditures									6,275,000	8,584,000	9,725,000
Depreciation and amortization:
Total depreciation and amortization									15,548,000	18,413,000	$ 20,741,000
Identifiable assets:
Total assets	$ 146,471,000				$ 168,511,000				$ 146,471,000	$ 168,511,000

Reportable Segments - Results_2

Reportable Segments - Results of Operations by Geographic Area (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues:
Total revenues	$ 480,821	$ 442,520	$ 427,004
Long-lived assets:
Total long-lived assets	534,371	625,771
United States
Revenues:
Total revenues	207,612	177,630	127,596
Long-lived assets:
Total long-lived assets	369,106	429,374
Russia
Revenues:
Total revenues	123,767	139,144	142,538
Long-lived assets:
Total long-lived assets	16,964	19,415
EMEA & Asia
Revenues:
Total revenues	92,568	64,572	79,870
Long-lived assets:
Total long-lived assets	89,696	108,621
Latin America
Revenues:
Total revenues	14,631	11,594	12,952
Long-lived assets:
Total long-lived assets	36,656	38,959
Other CIS
Revenues:
Total revenues	13,703	23,768	33,659
Long-lived assets:
Total long-lived assets	21,949	29,402
Other
Revenues:
Total revenues	$ 28,540	$ 25,812	$ 30,389

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) - Schedule of Selected Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018		Dec. 31, 2017		Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 129,148	$ 123,395	$ 118,603	$ 109,675	$ 116,334	$ 118,308	$ 109,607	$ 98,271	$ 480,821		$ 442,520		$ 427,004
Operating gross margin (loss)	3,815	1,932	(167)	(10,408)	(4,700)	121	(11,016)	(19,745)	(4,828)		(35,340)		(75,312)
Operating income (loss)	(31,661)	(56,544)	(8,933)	(16,266)	(14,221)	(6,815)	(17,632)	(27,137)	(113,404)		(65,805)		(111,257)
Net income (loss)	(43,073)	(70,951)	(22,877)	(28,796)	(28,693)	(20,311)	(29,888)	(39,809)	(165,697)		(118,701)		(230,814)
Net income (loss) available to common stockholders	$ (43,073)	$ (71,857)	$ (23,784)	$ (29,702)	$ (29,599)	$ (21,217)	$ (31,127)	$ (39,809)	$ (168,416)		$ (121,752)		$ (230,814)
Basic earnings per share - net income (loss) (in dollars per share)	$ (4.60)	$ (7.70)	$ (2.56)	$ (3.21)	$ (3.20)	$ (2.30)	$ (3.39)	$ (4.59)	$ (18.09)	[1]	$ (13.40)	[1]	$ (27.89)	[1]
Diluted earnings per share - net income (loss) (in dollars per share)	$ (4.60)	$ (7.70)	$ (2.56)	$ (3.21)	$ (3.20)	$ (2.30)	$ (3.39)	$ (4.59)	$ (18.09)	[1]	$ (13.40)	[1]	$ (27.89)	[1]
[1]	See Note 12 - Stockholders' Equity for details regarding the 1-for- 15

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - ASU 2016-02 - Forecast $ in Millions	Jan. 01, 2019USD ($)
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability	$ 15
Right of use asset	15
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability	25
Right of use asset	$ 25

Parent, Guarantor, Non-Guaran_3

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Financial Statements (Unaudited) - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of guaranteed subsidiaries by the parent companies	100.00%

Parent, Guarantor, Non-Guaran_4

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Financial Statements (Unaudited) - Consolidating Condensed Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 48,602	$ 141,549
Restricted cash	10,389	0
Accounts and notes receivable, net	136,437	122,511
Rig materials and supplies	36,245	31,415
Deferred costs	4,353	3,145
Other tax assets	2,949	4,889
Other current assets	27,929	14,327
Total current assets	266,904	317,836
Property, plant and equipment, net	534,371	625,771
Goodwill	0	6,708
Intangible assets, net	4,821	7,128
Rig materials and supplies	12,971	18,788
Deferred income taxes	2,143	1,284
Investment in subsidiaries and intercompany advances	0	0
Other non-current assets	7,204	12,764
Total assets	828,414	990,279
Current Liabilities:
Debtor in possession financing	10,000	0
Accounts payable	39,678	41,523
Accrued liabilities	35,385	57,723
Accrued income taxes	3,385	4,430
Total current liabilities	88,448	103,676
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017	0	577,971
Other long-term liabilities	11,544	12,433
Long-term deferred tax liability	510	78
Intercompany payables	0	0
Total liabilities not subject to compromise	100,502	694,158
Liabilities subject to compromise	600,996	0
Total stockholder's equity	126,916	296,121	$ 339,135	$ 568,512
Total liabilities and stockholders’ equity	828,414	990,279
Reportable Legal Entities | Parent
Current assets:
Cash and cash equivalents	5,905	75,342
Restricted cash	10,389
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	8,088	0
Total current assets	24,382	75,342
Property, plant and equipment, net	(19)	(19)
Goodwill		0
Intangible assets, net	0	0
Rig materials and supplies	0	0
Deferred income taxes	1,918	15,144
Investment in subsidiaries and intercompany advances	2,871,807	2,955,050
Other non-current assets	(277,183)	(276,375)
Total assets	2,620,905	2,769,142
Current Liabilities:
Debtor in possession financing	10,000
Accounts payable	(200,977)	(137,047)
Accrued liabilities	69,961	85,987
Accrued income taxes	88,494	76,883
Total current liabilities	(32,522)	25,823
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017		577,971
Other long-term liabilities	2,867	2,867
Long-term deferred tax liability	0	0
Intercompany payables	1,918,709	1,865,810
Total liabilities not subject to compromise	1,889,054
Liabilities subject to compromise	600,996
Total stockholder's equity	130,855	296,671
Total liabilities and stockholders’ equity	2,620,905	2,769,142
Reportable Legal Entities | Guarantor
Current assets:
Cash and cash equivalents	9,321	20,655
Restricted cash	0
Accounts and notes receivable, net	48,598	32,338
Rig materials and supplies	1,650	(3,025)
Deferred costs	975	17
Other tax assets	0	0
Other current assets	10,241	6,345
Total current assets	70,785	56,330
Property, plant and equipment, net	369,529	429,999
Goodwill		6,708
Intangible assets, net	4,821	7,128
Rig materials and supplies	7,036	7,256
Deferred income taxes	(14,806)	(26,623)
Investment in subsidiaries and intercompany advances	3,024,736	2,970,220
Other non-current assets	257,204	257,121
Total assets	3,719,305	3,708,139
Current Liabilities:
Debtor in possession financing	0
Accounts payable	222,903	162,505
Accrued liabilities	11,934	16,742
Accrued income taxes	(67,333)	(56,870)
Total current liabilities	167,504	122,377
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017		0
Other long-term liabilities	4,128	5,741
Long-term deferred tax liability	0	0
Intercompany payables	1,487,904	1,465,745
Total liabilities not subject to compromise	1,659,536
Liabilities subject to compromise	0
Total stockholder's equity	2,059,769	2,114,276
Total liabilities and stockholders’ equity	3,719,305	3,708,139
Reportable Legal Entities | Non-Guarantor
Current assets:
Cash and cash equivalents	33,376	45,552
Restricted cash	0
Accounts and notes receivable, net	87,839	90,173
Rig materials and supplies	34,002	34,440
Deferred costs	3,378	3,128
Other tax assets	2,949	4,889
Other current assets	9,600	7,982
Total current assets	171,144	186,164
Property, plant and equipment, net	164,861	195,791
Goodwill		0
Intangible assets, net	0	0
Rig materials and supplies	5,935	11,532
Deferred income taxes	15,031	12,763
Investment in subsidiaries and intercompany advances	4,264,747	3,956,747
Other non-current assets	507,932	512,870
Total assets	5,129,650	4,875,867
Current Liabilities:
Debtor in possession financing	0
Accounts payable	511,770	510,083
Accrued liabilities	76,947	78,452
Accrued income taxes	(17,776)	(15,583)
Total current liabilities	570,941	572,952
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017		0
Other long-term liabilities	4,549	3,825
Long-term deferred tax liability	510	78
Intercompany payables	2,719,884	2,430,339
Total liabilities not subject to compromise	3,295,884
Liabilities subject to compromise	0
Total stockholder's equity	1,833,766	1,868,673
Total liabilities and stockholders’ equity	5,129,650	4,875,867
Eliminations
Current assets:
Cash and cash equivalents	0	0
Restricted cash	0
Accounts and notes receivable, net	0	0
Rig materials and supplies	593	0
Deferred costs	0	0
Other tax assets	0	0
Other current assets	0	0
Total current assets	593	0
Property, plant and equipment, net	0	0
Goodwill		0
Intangible assets, net	0	0
Rig materials and supplies	0
Deferred income taxes	0	0
Investment in subsidiaries and intercompany advances	(10,161,290)	(9,882,017)
Other non-current assets	(480,749)	(480,852)
Total assets	(10,641,446)	(10,362,869)
Current Liabilities:
Debtor in possession financing	0
Accounts payable	(494,018)	(494,018)
Accrued liabilities	(123,457)	(123,458)
Accrued income taxes	0	0
Total current liabilities	(617,475)	(617,476)
Long-term debt, net of unamortized debt issuance costs of $7,029 at December 31, 2017		0
Other long-term liabilities	0	0
Long-term deferred tax liability	0	0
Intercompany payables	(6,126,497)	(5,761,894)
Total liabilities not subject to compromise	(6,743,972)
Liabilities subject to compromise	0
Total stockholder's equity	(3,897,474)	(3,983,499)
Total liabilities and stockholders’ equity	$ (10,641,446)	$ (10,362,869)

Parent, Guarantor, Non-Guaran_5

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Financial Statements (Unaudited) - Consolidating Condensed Statement of Operations (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Revenues	$ 129,148,000	$ 123,395,000	$ 118,603,000	$ 109,675,000	$ 116,334,000	$ 118,308,000	$ 109,607,000	$ 98,271,000	$ 480,821,000	$ 442,520,000	$ 427,004,000
Expenses:
Operating expenses									378,104,000	355,487,000	362,521,000
Depreciation and amortization									107,545,000	122,373,000	139,795,000
Total expenses									485,649,000	477,860,000	502,316,000
Total operating gross margin (loss)	3,815,000	1,932,000	(167,000)	(10,408,000)	(4,700,000)	121,000	(11,016,000)	(19,745,000)	(4,828,000)	(35,340,000)	(75,312,000)
General and administration expense									(24,545,000)	(25,676,000)	(34,332,000)
Loss on impairment									(50,698,000)	0	0
Provision for reduction in carrying value of certain assets									0	(1,938,000)	0
Gain (loss) on disposition of assets, net									(1,724,000)	(2,851,000)	(1,613,000)
Pre-petition restructuring charges									(21,820,000)	0	0
Reorganization items									(9,789,000)	0
Total operating income (loss)	(31,661,000)	(56,544,000)	(8,933,000)	(16,266,000)	(14,221,000)	(6,815,000)	(17,632,000)	(27,137,000)	(113,404,000)	(65,805,000)	(111,257,000)
Other income (expense):
Interest expense									(42,565,000)	(44,226,000)	(45,812,000)
Interest income									91,000	244,000	58,000
Other									(2,023,000)	126,000	367,000
Equity in net earnings of subsidiaries									0	0	0
Total other income (expense)									(44,497,000)	(43,856,000)	(45,387,000)
Income (loss) before income taxes									(157,901,000)	(109,661,000)	(156,644,000)
Current tax expense									8,225,000	9,264,000	5,108,000
Deferred tax expense (benefit)									(429,000)	(224,000)	69,062,000
Total income tax expense (benefit)									7,796,000	9,040,000	74,170,000
Net income (loss)	(43,073,000)	(70,951,000)	(22,877,000)	(28,796,000)	(28,693,000)	(20,311,000)	(29,888,000)	(39,809,000)	(165,697,000)	(118,701,000)	(230,814,000)
Less: Convertible preferred stock dividend									2,719,000	3,051,000	0
Net income (loss) available to common stockholders	$ (43,073,000)	$ (71,857,000)	$ (23,784,000)	$ (29,702,000)	$ (29,599,000)	$ (21,217,000)	$ (31,127,000)	$ (39,809,000)	(168,416,000)	(121,752,000)	(230,814,000)
Reportable Legal Entities | Parent
Income Statement [Abstract]
Revenues									0	0	0
Expenses:
Operating expenses									0	0	0
Depreciation and amortization									0	0	0
Total expenses									0	0	0
Total operating gross margin (loss)									0	0	0
General and administration expense									23,568,000	(323,000)	(410,000)
Loss on impairment									0
Provision for reduction in carrying value of certain assets										0
Gain (loss) on disposition of assets, net									0	0	0
Pre-petition restructuring charges									(21,820,000)
Reorganization items									(9,789,000)
Total operating income (loss)									(8,041,000)	(323,000)	(410,000)
Other income (expense):
Interest expense									(45,696,000)	(47,135,000)	(48,160,000)
Interest income									572,000	831,000	758,000
Other									0	0	0
Equity in net earnings of subsidiaries									(87,548,000)	(40,752,000)	(94,469,000)
Total other income (expense)									(132,672,000)	(87,056,000)	(141,871,000)
Income (loss) before income taxes									(140,713,000)	(87,379,000)	(142,281,000)
Current tax expense									11,758,000	26,537,000	40,562,000
Deferred tax expense (benefit)									13,226,000	4,785,000	47,971,000
Total income tax expense (benefit)									24,984,000	31,322,000	88,533,000
Net income (loss)									(165,697,000)	(118,701,000)	(230,814,000)
Less: Convertible preferred stock dividend									2,719,000	3,051,000	0
Net income (loss) available to common stockholders									(168,416,000)	(121,752,000)	(230,814,000)
Reportable Legal Entities | Guarantor
Income Statement [Abstract]
Revenues									204,319,000	167,675,000	151,100,000
Expenses:
Operating expenses									115,291,000	93,834,000	100,751,000
Depreciation and amortization									76,353,000	81,248,000	90,197,000
Total expenses									191,644,000	175,082,000	190,948,000
Total operating gross margin (loss)									12,675,000	(7,407,000)	(39,848,000)
General and administration expense									(47,819,000)	(24,887,000)	(29,356,000)
Loss on impairment									(40,917,000)
Provision for reduction in carrying value of certain assets										0
Gain (loss) on disposition of assets, net									(1,347,000)	(243,000)	(565,000)
Pre-petition restructuring charges									0
Reorganization items									0
Total operating income (loss)									(77,408,000)	(32,537,000)	(69,769,000)
Other income (expense):
Interest expense									67,000	(220,000)	(642,000)
Interest income									721,000	744,000	695,000
Other									6,000	71,000	483,000
Equity in net earnings of subsidiaries									0	0	0
Total other income (expense)									794,000	595,000	536,000
Income (loss) before income taxes									(76,614,000)	(31,942,000)	(69,233,000)
Current tax expense									(10,241,000)	(22,524,000)	(35,251,000)
Deferred tax expense (benefit)									(11,865,000)	(7,763,000)	14,940,000
Total income tax expense (benefit)									(22,106,000)	(30,287,000)	(20,311,000)
Net income (loss)									(54,508,000)	(1,655,000)	(48,922,000)
Less: Convertible preferred stock dividend									0	0	0
Net income (loss) available to common stockholders									(54,508,000)	(1,655,000)	(48,922,000)
Reportable Legal Entities | Non-Guarantor
Income Statement [Abstract]
Revenues									327,266,000	355,859,000	382,094,000
Expenses:
Operating expenses									313,577,000	342,667,000	367,960,000
Depreciation and amortization									31,192,000	41,125,000	49,598,000
Total expenses									344,769,000	383,792,000	417,558,000
Total operating gross margin (loss)									(17,503,000)	(27,933,000)	(35,464,000)
General and administration expense									(294,000)	(466,000)	(4,566,000)
Loss on impairment									(9,781,000)
Provision for reduction in carrying value of certain assets										(1,938,000)
Gain (loss) on disposition of assets, net									(377,000)	(2,608,000)	(1,048,000)
Pre-petition restructuring charges									0
Reorganization items									0
Total operating income (loss)									(27,955,000)	(32,945,000)	(41,078,000)
Other income (expense):
Interest expense									(9,214,000)	(7,906,000)	(6,434,000)
Interest income									11,076,000	9,704,000	8,029,000
Other									(2,029,000)	55,000	(116,000)
Equity in net earnings of subsidiaries									0	0	0
Total other income (expense)									(167,000)	1,853,000	1,479,000
Income (loss) before income taxes									(28,122,000)	(31,092,000)	(39,599,000)
Current tax expense									6,708,000	5,251,000	(203,000)
Deferred tax expense (benefit)									(1,790,000)	2,754,000	6,151,000
Total income tax expense (benefit)									4,918,000	8,005,000	5,948,000
Net income (loss)									(33,040,000)	(39,097,000)	(45,547,000)
Less: Convertible preferred stock dividend									0	0	0
Net income (loss) available to common stockholders									(33,040,000)	(39,097,000)	(45,547,000)
Eliminations
Income Statement [Abstract]
Revenues									(50,764,000)	(81,014,000)	(106,190,000)
Expenses:
Operating expenses									(50,764,000)	(81,014,000)	(106,190,000)
Depreciation and amortization									0	0	0
Total expenses									(50,764,000)	(81,014,000)	(106,190,000)
Total operating gross margin (loss)									0	0	0
General and administration expense									0	0	0
Loss on impairment									0
Provision for reduction in carrying value of certain assets										0
Gain (loss) on disposition of assets, net									0	0	0
Pre-petition restructuring charges									0
Reorganization items									0
Total operating income (loss)									0	0	0
Other income (expense):
Interest expense									12,278,000	11,035,000	9,424,000
Interest income									(12,278,000)	(11,035,000)	(9,424,000)
Other									0	0	0
Equity in net earnings of subsidiaries									87,548,000	40,752,000	94,469,000
Total other income (expense)									87,548,000	40,752,000	94,469,000
Income (loss) before income taxes									87,548,000	40,752,000	94,469,000
Current tax expense									0	0	0
Deferred tax expense (benefit)									0	0	0
Total income tax expense (benefit)									0	0	0
Net income (loss)									87,548,000	40,752,000	94,469,000
Less: Convertible preferred stock dividend									0	0	0
Net income (loss) available to common stockholders									$ 87,548,000	$ 40,752,000	$ 94,469,000

Parent, Guarantor, Non-Guaran_6

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Financial Statements (Unaudited) - Consolidating Condensed Statement of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	$ (43,073)	$ (70,951)	$ (22,877)	$ (28,796)	$ (28,693)	$ (20,311)	$ (29,888)	$ (39,809)	$ (165,697)	$ (118,701)	$ (230,814)
Other comprehensive income (loss), net of tax:
Currency translation difference on related borrowings									(646)	643	(691)
Currency translation difference on foreign currency net investments									(2,721)	2,689	(4,265)
Total other comprehensive income (loss), net of tax:									(3,367)	3,332	(4,956)
Comprehensive income (loss) attributable to controlling interest									(169,064)	(115,369)	(235,770)
Parent
Other comprehensive income (loss), net of tax:
Comprehensive income (loss) attributable to controlling interest										(118,701)
Guarantor
Other comprehensive income (loss), net of tax:
Comprehensive income (loss) attributable to controlling interest										(1,655)
Non-Guarantor
Other comprehensive income (loss), net of tax:
Comprehensive income (loss) attributable to controlling interest										(35,765)
Reportable Legal Entities | Parent
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)									(165,697)	(118,701)	(230,814)
Other comprehensive income (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 income (loss), net of tax:									0	0	0
Comprehensive income (loss) attributable to controlling interest									(165,697)		(230,814)
Reportable Legal Entities | Guarantor
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)									(54,508)	(1,655)	(48,922)
Other comprehensive income (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 income (loss), net of tax:									0	0	0
Comprehensive income (loss) attributable to controlling interest									(54,508)		(48,922)
Reportable Legal Entities | Non-Guarantor
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)									(33,040)	(39,097)	(45,547)
Other comprehensive income (loss), net of tax:
Currency translation difference on related borrowings									(646)	643	(691)
Currency translation difference on foreign currency net investments									(2,721)	2,689	(4,265)
Total other comprehensive income (loss), net of tax:									(3,367)	3,332	(4,956)
Comprehensive income (loss) attributable to controlling interest									(36,407)		(50,503)
Eliminations
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)									87,548	40,752	94,469
Other comprehensive income (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 income (loss), net of tax:									0	0	0
Comprehensive income (loss) attributable to controlling interest									$ 87,548	$ 40,752	$ 94,469

Parent, Guarantor, Non-Guaran_7

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Financial Statements (Unaudited) - Consolidated Statement of Cash Flows (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income (loss)	$ (43,073,000)	$ (70,951,000)	$ (22,877,000)	$ (28,796,000)	$ (28,693,000)	$ (20,311,000)	$ (29,888,000)	$ (39,809,000)	$ (165,697,000)	$ (118,701,000)	$ (230,814,000)
Adjustments to reconcile net income (loss):
Depreciation and amortization									107,545,000	122,373,000	139,795,000
(Gain) loss on debt modification											1,088,000
Accretion on contingent consideration									0	0	419,000
(Gain) loss on debt modification									9,789,000	0
Gain (loss) on disposition of assets, net									1,724,000	2,851,000	1,613,000
Deferred tax expense (benefit)									(429,000)	(224,000)	69,062,000
Loss on impairment									50,698,000	0	0
Equity in net earnings of subsidiaries									7,538,000	0	0
Provision for reduction in carrying value of certain assets									0	1,938,000	0
Expenses not requiring cash									5,151,000	4,251,000	2,518,000
Equity in net earnings (losses) of subsidiaries									0	0	0
Change in assets and liabilities:
Accounts and notes receivable									(15,235,000)	(9,628,000)	60,391,000
Rig materials and supplies									249,000	4,710,000	(1,752,000)
Other current assets									(10,860,000)	(1,319,000)	2,140,000
Other non-current assets									13,019,000	8,658,000	3,897,000
Accounts payable and accrued liabilities									(9,489,000)	(8,714,000)	(19,494,000)
Accrued income taxes									(1,264,000)	538,000	(6,422,000)
Net cash provided by (used in) operating activities									(17,050,000)	6,733,000	22,441,000
Cash flows from investing activities:
Capital expenditures									(70,567,000)	(54,533,000)	(28,954,000)
Proceeds from the sale of assets									1,353,000	403,000	2,441,000
Net cash provided by (used in) investing activities									(69,214,000)	(54,130,000)	(26,513,000)
Cash flows from financing activities:
Proceeds from the issuance of common stock									0	25,200,000	0
Proceeds from the issuance of convertible preferred stock									0	50,000,000	0
Payment of equity issuance costs									0	(2,864,000)	0
Proceeds from borrowing under DIP facility									10,000,000	0	0
Payment of DIP facility costs									(975,000)	0	0
Convertible preferred stock dividend									(3,625,000)	(2,145,000)	0
Payments of debt issuance costs									(1,443,000)	0	0
Payment for noncontrolling interest									0	0	(3,375,000)
Payment of contingent consideration									0	0	(6,000,000)
Shares surrendered in lieu of tax									(251,000)	(936,000)	(1,156,000)
Intercompany advances, net									0	0	0
Net cash provided by (used in) financing activities									3,706,000	69,255,000	(10,531,000)
Net increase (decrease) in cash, cash equivalents and restricted cash									(82,558,000)	21,858,000	(14,603,000)
Cash, cash equivalents and restricted cash at beginning of period				141,549,000				119,691,000	141,549,000	119,691,000	134,294,000
Cash, cash equivalents and restricted cash at end of period	58,991,000				141,549,000				58,991,000	141,549,000	119,691,000
Reportable Legal Entities | Parent
Cash flows from operating activities:
Net income (loss)									(165,697,000)	(118,701,000)	(230,814,000)
Adjustments to reconcile net income (loss):
Depreciation and amortization									0	0	0
(Gain) loss on debt modification											1,088,000
Accretion on contingent consideration											0
Gain (loss) on disposition of assets, net									0	0	0
Deferred tax expense (benefit)									13,226,000	4,785,000	47,971,000
Loss on impairment									0
Equity in net earnings of subsidiaries									7,538,000
Provision for reduction in carrying value of certain assets										0
Expenses not requiring cash									4,526,000	5,651,000	9,545,000
Equity in net earnings (losses) of subsidiaries									87,548,000	40,752,000	94,469,000
Change in assets and liabilities:
Accounts and notes receivable									0	0	0
Rig materials and supplies									0	0	0
Other current assets									(8,088,000)	(50,296,000)	50,296,000
Other non-current assets									1,042,000	361,000	(299,000)
Accounts payable and accrued liabilities									(63,054,000)	(41,885,000)	(121,016,000)
Accrued income taxes									11,611,000	79,319,000	(10,381,000)
Net cash provided by (used in) operating activities									(111,348,000)	(80,014,000)	(159,141,000)
Cash flows from investing activities:
Capital expenditures									0	0	0
Proceeds from the sale of assets									0	0	0
Net cash provided by (used in) investing activities									0	0	0
Cash flows from financing activities:
Proceeds from the issuance of common stock										25,200,000
Proceeds from the issuance of convertible preferred stock										50,000,000
Payment of equity issuance costs										(2,864,000)
Proceeds from borrowing under DIP facility									10,000,000
Payment of DIP facility costs									(975,000)
Convertible preferred stock dividend									(3,625,000)	(2,145,000)
Payments of debt issuance costs									(1,443,000)
Payment for noncontrolling interest											(3,375,000)
Payment of contingent consideration											0
Shares surrendered in lieu of tax									(251,000)	(936,000)	(1,156,000)
Intercompany advances, net									48,594,000	21,101,000	154,687,000
Net cash provided by (used in) financing activities									52,300,000	90,356,000	150,156,000
Net increase (decrease) in cash, cash equivalents and restricted cash									(59,048,000)	10,342,000	(8,985,000)
Cash, cash equivalents and restricted cash at beginning of period				75,342,000				65,000,000	75,342,000	65,000,000	73,985,000
Cash, cash equivalents and restricted cash at end of period	16,294,000				75,342,000				16,294,000	75,342,000	65,000,000
Reportable Legal Entities | Guarantor
Cash flows from operating activities:
Net income (loss)									(54,508,000)	(1,655,000)	(48,922,000)
Adjustments to reconcile net income (loss):
Depreciation and amortization									76,353,000	81,248,000	90,197,000
(Gain) loss on debt modification											0
Accretion on contingent consideration											419,000
Gain (loss) on disposition of assets, net									1,347,000	243,000	565,000
Deferred tax expense (benefit)									(11,865,000)	(7,763,000)	14,940,000
Loss on impairment									40,917,000
Equity in net earnings of subsidiaries									0
Provision for reduction in carrying value of certain assets										0
Expenses not requiring cash									(302,000)	4,793,000	(4,900,000)
Equity in net earnings (losses) of subsidiaries									0	0	0
Change in assets and liabilities:
Accounts and notes receivable									(16,244,000)	(16,552,000)	25,848,000
Rig materials and supplies									(4,454,000)	(1,869,000)	(361,000)
Other current assets									(4,854,000)	34,096,000	(34,479,000)
Other non-current assets									3,315,000	(1,542,000)	441,000
Accounts payable and accrued liabilities									57,305,000	30,359,000	99,511,000
Accrued income taxes									(10,415,000)	(61,233,000)	(1,134,000)
Net cash provided by (used in) operating activities									76,595,000	60,125,000	142,125,000
Cash flows from investing activities:
Capital expenditures									(56,897,000)	(42,990,000)	(15,384,000)
Proceeds from the sale of assets									87,000	68,000	437,000
Net cash provided by (used in) investing activities									(56,810,000)	(42,922,000)	(14,947,000)
Cash flows from financing activities:
Proceeds from the issuance of common stock										0
Proceeds from the issuance of convertible preferred stock										0
Payment of equity issuance costs										0
Proceeds from borrowing under DIP facility									0
Payment of DIP facility costs									0
Convertible preferred stock dividend									0	0
Payments of debt issuance costs									0
Payment for noncontrolling interest											0
Payment of contingent consideration											(6,000,000)
Shares surrendered in lieu of tax									0	0
Intercompany advances, net									(31,119,000)	(10,753,000)	(120,659,000)
Net cash provided by (used in) financing activities									(31,119,000)	(10,753,000)	(126,659,000)
Net increase (decrease) in cash, cash equivalents and restricted cash									(11,334,000)	6,450,000	519,000
Cash, cash equivalents and restricted cash at beginning of period				20,655,000				14,205,000	20,655,000	14,205,000	13,686,000
Cash, cash equivalents and restricted cash at end of period	9,321,000				20,655,000				9,321,000	20,655,000	14,205,000
Reportable Legal Entities | Non-Guarantor
Cash flows from operating activities:
Net income (loss)									(33,040,000)	(39,097,000)	(45,547,000)
Adjustments to reconcile net income (loss):
Depreciation and amortization									31,192,000	41,125,000	49,598,000
(Gain) loss on debt modification											0
Accretion on contingent consideration											0
Gain (loss) on disposition of assets, net									377,000	2,608,000	1,048,000
Deferred tax expense (benefit)									(1,790,000)	2,754,000	6,151,000
Loss on impairment									9,781,000
Equity in net earnings of subsidiaries									0
Provision for reduction in carrying value of certain assets										1,938,000
Expenses not requiring cash									(8,498,000)	4,869,000	(2,127,000)
Equity in net earnings (losses) of subsidiaries									0	0	0
Change in assets and liabilities:
Accounts and notes receivable									1,009,000	13,495,000	34,543,000
Rig materials and supplies									5,296,000	6,579,000	(1,391,000)
Other current assets									2,082,000	14,881,000	(13,677,000)
Other non-current assets									8,763,000	3,234,000	3,755,000
Accounts payable and accrued liabilities									7,207,000	(7,925,000)	2,011,000
Accrued income taxes									(2,460,000)	(17,548,000)	5,093,000
Net cash provided by (used in) operating activities									19,919,000	26,913,000	39,457,000
Cash flows from investing activities:
Capital expenditures									(13,670,000)	(11,543,000)	(13,570,000)
Proceeds from the sale of assets									1,266,000	335,000	2,004,000
Net cash provided by (used in) investing activities									(12,404,000)	(11,208,000)	(11,566,000)
Cash flows from financing activities:
Proceeds from the issuance of common stock										0
Proceeds from the issuance of convertible preferred stock										0
Payment of equity issuance costs										0
Proceeds from borrowing under DIP facility									0
Payment of DIP facility costs									0
Convertible preferred stock dividend									0	0
Payments of debt issuance costs									0
Payment for noncontrolling interest											0
Payment of contingent consideration											0
Shares surrendered in lieu of tax									0	0
Intercompany advances, net									(19,691,000)	(10,639,000)	(34,028,000)
Net cash provided by (used in) financing activities									(19,691,000)	(10,639,000)	(34,028,000)
Net increase (decrease) in cash, cash equivalents and restricted cash									(12,176,000)	5,066,000	(6,137,000)
Cash, cash equivalents and restricted cash at beginning of period				45,552,000				40,486,000	45,552,000	40,486,000	46,623,000
Cash, cash equivalents and restricted cash at end of period	33,376,000				45,552,000				33,376,000	45,552,000	40,486,000
Eliminations
Cash flows from operating activities:
Net income (loss)									87,548,000	40,752,000	94,469,000
Adjustments to reconcile net income (loss):
Depreciation and amortization									0	0	0
(Gain) loss on debt modification											0
Accretion on contingent consideration											0
Gain (loss) on disposition of assets, net									0	0	0
Deferred tax expense (benefit)									0	0	0
Loss on impairment									0
Equity in net earnings of subsidiaries									0
Provision for reduction in carrying value of certain assets										0
Expenses not requiring cash									9,425,000	(11,062,000)	0
Equity in net earnings (losses) of subsidiaries									(87,548,000)	(40,752,000)	(94,469,000)
Change in assets and liabilities:
Accounts and notes receivable									0	(6,571,000)	0
Rig materials and supplies									(593,000)	0	0
Other current assets									0	0	0
Other non-current assets									(101,000)	6,605,000	0
Accounts payable and accrued liabilities									(10,947,000)	10,737,000	0
Accrued income taxes									0	0	0
Net cash provided by (used in) operating activities									(2,216,000)	(291,000)	0
Cash flows from investing activities:
Capital expenditures									0	0	0
Proceeds from the sale of assets									0	0	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 convertible preferred stock										0
Payment of equity issuance costs										0
Proceeds from borrowing under DIP facility									0
Payment of DIP facility costs									0
Convertible preferred stock dividend									0	0
Payments of debt issuance costs									0
Payment for noncontrolling interest											0
Payment of contingent consideration											0
Shares surrendered in lieu of tax									0	0
Intercompany advances, net									2,216,000	291,000	0
Net cash provided by (used in) financing activities									2,216,000	291,000	0
Net increase (decrease) in cash, cash equivalents and restricted cash									0	0	0
Cash, cash equivalents and restricted cash at beginning of period				$ 0				$ 0	0	0	0
Cash, cash equivalents and restricted cash at end of period	$ 0				$ 0				$ 0	$ 0	$ 0

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for bad debt
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	$ 7,564	$ 8,259	$ 8,694
Charged to cost and expenses	309	444	1,483
Charged to other accounts	(47)	(414)	4
Deductions	(59)	(725)	(1,922)
Balance at end of year	7,767	7,564	8,259
Allowance for obsolete rig materials and supplies
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	809	1,166	626
Charged to cost and expenses	1,041	65	978
Charged to other accounts	0	0	(3)
Deductions	(303)	(422)	(435)
Balance at end of year	1,547	809	1,166
Deferred tax valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	157,914	171,133	51,105
Charged to cost and expenses	28,353	(14,625)	117,707
Charged to other accounts	0	1,406	2,321
Deductions	0	0	0
Balance at end of year	$ 186,267	$ 157,914	$ 171,133