Patterson-UTI Energy (PTEN) 10-Q 2 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 28, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Trading Symbol	PTEN
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock, $0.01 Par Value
Entity Registrant Name	Patterson-UTI Energy, Inc.
Entity Central Index Key	0000889900
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		215,112,196
Document Quarterly Report	true
Document Transition Report	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	1-39270
Entity Tax Identification Number	75-2504748
Entity Address, Address Line One	10713 W. Sam Houston Pkwy N
Entity Address, Address Line Two	Suite 800
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Incorporation, State or Country Code	DE
Entity Address, Postal Zip Code	77064
City Area Code	281
Local Phone Number	765-7100

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 191,284	$ 224,915
Accounts receivable, net of allowance for credit losses of $10,838 and $10,842 at June 30, 2021 and December 31, 2020, respectively	263,186	160,214
Federal and state income taxes receivable	64	4,428
Inventory	34,924	33,085
Other	54,074	55,314
Total current assets	543,532	477,956
Property and equipment, net	2,424,725	2,761,041
Right of use asset	15,376	16,850
Intangible assets	21,052	30,087
Deposits on equipment purchases	1,782	1,716
Other	10,996	11,419
Total assets	3,017,463	3,299,069
Current liabilities:
Accounts payable	165,779	91,622
Accrued liabilities	167,128	175,004
Lease liability	5,942	7,096
Total current liabilities	338,849	273,722
Long-term lease liability	15,798	19,118
Long-term debt, net of debt discount and issuance costs of $6,859 and $7,271 at June 30, 2021 and December 31, 2020, respectively	902,104	901,484
Deferred tax liabilities, net	22,922	77,676
Other	12,145	11,010
Total liabilities	1,291,818	1,283,010
Commitments and contingencies (see Note 10)
Stockholders' equity:
Preferred stock, par value $0.01; authorized 1,000,000 shares, no shares issued
Common stock, par value $0.01; authorized 400,000,000 shares with 272,835,137 and 271,028,688 issued and 189,004,150 and 187,626,366 outstanding at June 30, 2021 and December 31, 2020, respectively	2,729	2,710
Additional paid-in capital	2,919,090	2,902,236
Retained earnings	167,860	472,014
Accumulated other comprehensive income	5,853	5,412
Treasury stock, at cost, 83,830,987 and 83,402,322 shares at June 30, 2021 and December 31, 2020, respectively	(1,369,887)	(1,366,313)
Total stockholders' equity	1,725,645	2,016,059
Total liabilities and stockholders' equity	$ 3,017,463	$ 3,299,069

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 9,993	$ 10,842
Long-term debt, debt discount and issuance costs	$ 6,651	$ 7,271
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	400,000,000	400,000,000
Common stock, issued	272,885,704	271,028,688
Common stock, outstanding	189,049,158	187,626,366
Treasury stock, shares	83,836,546	83,402,322

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating revenues:
Total operating revenues	$ 357,885,000	$ 207,141,000	$ 890,588,000	$ 903,448,000
Operating costs and expenses:
Depreciation, depletion, amortization and impairment	141,065,000	157,319,000	437,984,000	517,201,000
Impairment of goodwill	0	0	0	395,060,000
Selling, general and administrative	22,063,000	22,355,000	68,176,000	76,692,000
Merger and integration expenses	918,000		2,066,000
Credit loss expense	0	0	0	5,606,000
Restructuring expenses				38,338,000
Other operating (income) expenses, net	(1,219,000)	776,000	(3,743,000)	5,980,000
Total operating costs and expenses	447,894,000	321,707,000	1,207,534,000	1,671,508,000
Operating loss	(90,009,000)	(114,566,000)	(316,946,000)	(768,060,000)
Other income (expense):
Interest income	37,000	238,000	196,000	1,229,000
Interest expense, net of amount capitalized	(10,683,000)	(11,288,000)	(31,396,000)	(33,496,000)
Other	14,000	512,000	840,000	682,000
Total other expense	(10,632,000)	(10,538,000)	(30,360,000)	(31,585,000)
Loss before income taxes	(100,641,000)	(125,104,000)	(347,306,000)	(799,645,000)
Income tax benefit	(17,643,000)	(12,993,000)	(54,586,000)	(102,480,000)
Net loss	$ (82,998,000)	$ (112,111,000)	$ (292,720,000)	$ (697,165,000)
Net loss per common share:
Basic	$ (0.44)	$ (0.60)	$ (1.55)	$ (3.70)
Diluted	$ (0.44)	$ (0.60)	$ (1.55)	$ (3.70)
Weighted average number of common shares outstanding:
Basic	188,965	187,280	188,355	188,193
Diluted	188,965	187,280	188,355	188,193
Cash dividends per common share	$ 0.02	$ 0.02	$ 0.06	$ 0.08
Contract Drilling
Operating revenues:
Total operating revenues	$ 157,925,000	$ 115,054,000	$ 433,158,000	$ 553,552,000
Operating costs and expenses:
Operating costs and expenses	111,537,000	59,117,000	291,049,000	309,664,000
Pressure Pumping
Operating revenues:
Total operating revenues	152,634,000	71,973,000	340,464,000	256,613,000
Operating costs and expenses:
Operating costs and expenses	134,726,000	63,721,000	313,556,000	234,844,000
Directional Drilling
Operating revenues:
Total operating revenues	31,728,000	10,271,000	76,267,000	56,498,000
Operating costs and expenses:
Operating costs and expenses	28,360,000	9,754,000	67,367,000	54,348,000
Other
Operating revenues:
Total operating revenues	15,598,000	9,843,000	40,699,000	36,785,000
Operating costs and expenses:
Operating costs and expenses	$ 10,444,000	$ 8,665,000	$ 31,079,000	$ 33,775,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (82,998)	$ (112,111)	$ (292,720)	$ (697,165)
Other comprehensive income (loss), net of taxes of $0 for all periods:
Foreign currency translation adjustment	(232)	218	441	(473)
Total comprehensive loss	$ (83,230)	$ (111,893)	$ (292,279)	$ (697,638)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Other comprehensive income (loss), taxes	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning Balance at Dec. 31, 2019	$ 2,833,620	$ 2,694	$ 2,875,680	$ 1,294,902	$ 5,478	$ (1,345,134)
Beginning Balance (in shares) at Dec. 31, 2019		269,372
Net loss	(434,722)			(434,722)
Foreign currency translation adjustment	(1,386)				(1,386)
Vesting of restricted stock units		$ 1	(1)
Vesting of restricted stock units (in shares)		151
Stock-based compensation	9,160		9,160
Payment of cash dividends	(7,629)			(7,629)
Dividend equivalents	(125)			(125)
Purchase of treasury stock	(20,025)					(20,025)
Ending Balance at Mar. 31, 2020	2,378,893	$ 2,695	2,884,839	852,426	4,092	(1,365,159)
Ending Balance (in shares) at Mar. 31, 2020		269,523
Beginning Balance at Dec. 31, 2019	2,833,620	$ 2,694	2,875,680	1,294,902	5,478	(1,345,134)
Beginning Balance (in shares) at Dec. 31, 2019		269,372
Net loss	(697,165)
Foreign currency translation adjustment	(473)
Ending Balance at Sep. 30, 2020	2,119,563	$ 2,708	2,895,753	582,360	5,005	(1,366,263)
Ending Balance (in shares) at Sep. 30, 2020		270,861
Beginning Balance at Mar. 31, 2020	2,378,893	$ 2,695	2,884,839	852,426	4,092	(1,365,159)
Beginning Balance (in shares) at Mar. 31, 2020		269,523
Net loss	(150,332)			(150,332)
Foreign currency translation adjustment	695				695
Vesting of restricted stock units		$ 11	(11)
Vesting of restricted stock units (in shares)		1,046
Stock-based compensation	4,335		4,335
Payment of cash dividends	(3,735)			(3,735)
Dividend equivalents	(73)			(73)
Purchase of treasury stock	(910)					(910)
Ending Balance at Jun. 30, 2020	2,228,873	$ 2,706	2,889,163	698,286	4,787	(1,366,069)
Ending Balance (in shares) at Jun. 30, 2020		270,569
Net loss	(112,111)			(112,111)
Foreign currency translation adjustment	218				218
Vesting of restricted stock units		$ 2	(2)
Vesting of restricted stock units (in shares)		292
Stock-based compensation	6,592		6,592
Payment of cash dividends	(3,746)			(3,746)
Dividend equivalents	(69)			(69)
Purchase of treasury stock	(194)					(194)
Ending Balance at Sep. 30, 2020	2,119,563	$ 2,708	2,895,753	582,360	5,005	(1,366,263)
Ending Balance (in shares) at Sep. 30, 2020		270,861
Beginning Balance at Dec. 31, 2020	$ 2,016,059	$ 2,710	2,902,236	472,014	5,412	(1,366,313)
Beginning Balance (in shares) at Dec. 31, 2020	271,028,688	271,029,000
Net loss	$ (106,413)			(106,413)
Foreign currency translation adjustment	418				418
Vesting of restricted stock units		$ 2	(2)
Vesting of restricted stock units (in shares)		163,000
Stock-based compensation	5,891		5,891
Payment of cash dividends	(3,754)			(3,754)
Dividend equivalents	(55)			(55)
Ending Balance at Mar. 31, 2021	1,912,146	$ 2,712	2,908,125	361,792	5,830	(1,366,313)
Ending Balance (in shares) at Mar. 31, 2021		271,192
Beginning Balance at Dec. 31, 2020	$ 2,016,059	$ 2,710	2,902,236	472,014	5,412	(1,366,313)
Beginning Balance (in shares) at Dec. 31, 2020	271,028,688	271,029,000
Net loss	$ (292,720)
Foreign currency translation adjustment	441
Ending Balance at Sep. 30, 2021	$ 1,725,645	$ 2,729	2,919,090	167,860	5,853	(1,369,887)
Ending Balance (in shares) at Sep. 30, 2021	272,885,704	272,886
Beginning Balance at Mar. 31, 2021	$ 1,912,146	$ 2,712	2,908,125	361,792	5,830	(1,366,313)
Beginning Balance (in shares) at Mar. 31, 2021		271,192
Net loss	(103,309)			(103,309)
Foreign currency translation adjustment	255				255
Vesting of restricted stock units		$ 16	(16)
Vesting of restricted stock units (in shares)		1,643
Stock-based compensation	5,934		5,934
Payment of cash dividends	(3,769)			(3,769)
Dividend equivalents	(18)			(18)
Purchase of treasury stock	(3,522)					(3,522)
Ending Balance at Jun. 30, 2021	1,807,717	$ 2,728	2,914,043	254,696	6,085	(1,369,835)
Ending Balance (in shares) at Jun. 30, 2021		272,835
Net loss	(82,998)			(82,998)
Foreign currency translation adjustment	(232)				(232)
Vesting of restricted stock units		$ 1	(1)
Vesting of restricted stock units (in shares)		51
Stock-based compensation	5,048		5,048
Payment of cash dividends	(3,780)			(3,780)
Dividend equivalents	(58)			(58)
Purchase of treasury stock	(52)					(52)
Ending Balance at Sep. 30, 2021	$ 1,725,645	$ 2,729	$ 2,919,090	$ 167,860	$ 5,853	$ (1,369,887)
Ending Balance (in shares) at Sep. 30, 2021	272,885,704	272,886

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Statement Of Stockholders Equity [Abstract]
Common Stock Dividends Per Share Declared	$ 0.02	$ 0.02	$ 0.02	$ 0.02	$ 0.02	$ 0.04

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (292,720,000)	$ (697,165,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion, amortization and impairment	437,984,000	517,201,000
Impairment of goodwill	0	395,060,000
Dry holes and abandonments	177,000	1,256,000
Deferred income tax benefit	(54,754,000)	(100,212,000)
Stock-based compensation expense	16,873,000	20,087,000
Net gain on asset disposals	(5,595,000)	(3,357,000)
Net gain on insurance reimbursement	0	(4,172,000)
Writedown of capacity reservation contract	0	9,207,000
Credit loss expense	0	5,606,000
Restructuring expenses, non-cash	0	24,068,000
Amortization of debt discount and issuance costs	620,000	673,000
Changes in operating assets and liabilities:
Accounts receivable	(103,241,000)	202,733,000
Income taxes receivable/payable	4,378,000	1,285,000
Inventory and other assets	1,486,000	22,250,000
Accounts payable	59,357,000	(57,788,000)
Accrued liabilities	(8,009,000)	(44,607,000)
Other liabilities	(4,958,000)	(8,840,000)
Net cash provided by operating activities	51,598,000	283,285,000
Cash flows from investing activities:
Purchases of property and equipment	(90,837,000)	(135,043,000)
Proceeds from disposal of assets and insurance claims	20,558,000	17,792,000
Other	(345,000)	(121,000)
Net cash used in investing activities	(70,624,000)	(117,372,000)
Cash flows from financing activities:
Purchases of treasury stock	(3,574,000)	(21,129,000)
Dividends paid	(11,303,000)	(15,110,000)
Debt issuance costs	0	145,000
Net cash used in financing activities	(14,877,000)	(36,384,000)
Effect of foreign exchange rate changes on cash	272,000	27,000
Net increase (decrease) in cash and cash equivalents	(33,631,000)	129,556,000
Cash and cash equivalents at beginning of period	224,915,000	174,185,000
Cash and cash equivalents at end of period	191,284,000	303,741,000
Net cash received (paid) during the period for:
Interest, net of capitalized interest of $117 in 2021 and $425 in 2020	(31,031,000)	(32,605,000)
Income taxes	4,196,000	3,550,000
Non-cash investing and financing activities:
Net increase (decrease) in payables for purchases of property and equipment	14,801,000	(38,312,000)
Net (increase) decrease in deposits on equipment purchases	$ (66,000)	$ 3,338,000

CONDENSED CONSOLIDATED STATEM_7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement Of Cash Flows [Abstract]
Interest expense, capitalized interest	$ 117	$ 425

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation Basis of presentation — The unaudited interim condensed consolidated financial statements include the accounts of Patterson-UTI Energy, Inc. and its wholly-owned subsidiaries (collectively referred to herein as “we,” “us,” “our,” “ours” and like terms). All significant intercompany accounts and transactions have been eliminated. Except for wholly-owned subsidiaries, we have no controlling financial interests in any other entity which would require consolidation. As used in these notes, “we,” “us,” “our,” “ours” and like terms refer collectively to Patterson-UTI Energy, Inc. and its consolidated subsidiaries. Patterson-UTI Energy, Inc. conducts its business operations through its wholly-owned subsidiaries and has no employees or independent operations. The unaudited interim condensed consolidated financial statements have been prepared by us pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted pursuant to such rules and regulations, although we believe the disclosures included either on the face of the financial statements or herein are sufficient to make the information presented not misleading. In the opinion of management, all recurring adjustments considered necessary for a fair statement of the information in conformity with U.S. GAAP have been included. The unaudited condensed consolidated balance sheet as of December 31, 2020, as presented herein, was derived from our audited consolidated balance sheet but does not include all disclosures required by U.S. GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results to be expected for the full year. The U.S. dollar is the functional currency for all of our operations except for our Canadian operations, which use the Canadian dollar as their functional currency. The effects of exchange rate changes are reflected in accumulated other comprehensive income, which is a separate component of stockholders’ equity. Recently Adopted Accounting Standards — In June 2016, the FASB issued an accounting standards update on measurement of credit losses on financial instruments. The new guidance requires us to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The new standard is effective for fiscal years beginning after December 15, 2019, including all interim periods within those years. We adopted ASU 2016-13 as of January 1, 2020. The adoption of this guidance and recognition of a loss allowance at an amount equal to expected credit losses for accounts receivable was not material and did not result in a transition adjustment to retained earnings. For more information regarding credit losses, see Note 3. In August 2018, the FASB issued an accounting standards update to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The capitalized implementation costs of a hosting arrangement that is a service contract will be expensed over the term of the hosting arrangement. We adopted this new guidance on January 1, 2020 prospectively with respect to all implementation costs incurred after the date of adoption. There was no material impact on our consolidated financial statements. In August 2018, the FASB issued an accounting standards update to eliminate certain disclosure requirements for fair value measurements for all entities, require public entities to disclose certain new information and modify certain disclosure requirements. The FASB developed the amendments to Topic 820 as part of its broader disclosure framework project, which aims to improve the effectiveness of disclosures in the notes to financial statements by focusing on requirements that clearly communicate the most important information to users of the financial statements. We adopted this new guidance on January 1, 2020 and there was no material impact on our consolidated financial statements. In December 2019, the FASB issued an accounting standards update to simplify the accounting for income taxes. The amendments in the update are effective for public business entities for fiscal years beginning after December 15, 2020, with early adoption permitted. We adopted this new guidance on January 1, 2021, and there was no material impact on our consolidated financial statements. Recently Issued Accounting Standards — In March 2020, the FASB issued an accounting standards update to provide temporary optional expedients that simplify the accounting for contract modifications to existing debt agreements expected to arise from the market transition from LIBOR to alternative reference rates. The amendments in the update are effective as of March 12, 2020 through December 31, 2022 and may be applied to contract modifications from the beginning of an interim period that includes or is subsequent to March 12, 2020. We plan to adopt this standard when LIBOR is discontinued, and we do not expect this new guidance will have a material impact on our consolidated financial statements.

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Acquisition	2. Acquisition On October 1, 2021, we completed the acquisition of Pioneer Energy Services Corp. ("Pioneer"). Total consideration for the acquisition included the issuance of approximately 26.3 million shares of our common stock and payment of $ 30 million cash, which based on the closing price of $ 9.44 on October 1, 2021, valued the transaction at approximately $ 278 million, including the retirement of all Pioneer’s debt. In connection with the closing, Pioneer’s senior notes were repaid with cash and a portion of the shares of Patterson-UTI common stock issued in the acquisition. Pioneer shareholders received 1.8692 shares of Patterson-UTI common stock for each share of Pioneer common stock. Pioneer provided land-based contract drilling services and production services to a diverse group of oil and gas exploration and production companies in the United States and internationally in Colombia. Through the Pioneer acquisition, we acquired Pioneer’s 100 % pad-capable drilling rig fleet, with 17 AC rigs in the United States and eight SCR rigs in Colombia , and production services assets consisting of 123 well servicing rigs and 72 wireline services units. We believe the acquisition of Pioneer enhances our position as a leading provider of contract drilling services in the United States and expands our geographic footprint into Latin America. We are in the process of determining the fair values of the assets acquired and liabilities assumed, and the results of operations for these acquired businesses will be included in our consolidated results of operations beginning in the quarter ending December 31, 2021.

Credit Losses

Credit Losses	9 Months Ended
	Sep. 30, 2021
Credit Loss [Abstract]
Credit Losses	3. Credit Losses ASC Topic 326 Current Expected Credit Losses (CECL) On January 1, 2020, we adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments , which introduces a new model to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. Our customers are primarily oil and natural gas exploration and production companies, which are collectively exposed to oil and natural gas commodity price risk. Our customers require services from us at various stages of the exploration and production process. Accordingly, we have aggregated our trade receivables by segment. Any customers that have experienced a deterioration in credit quality are removed from the pool and evaluated individually. We utilized an accounts receivable aging schedule and historical credit loss information to estimate expected credit losses. Due to the significant decline in crude oil prices during the quarter ended March 31, 2020 and its related impact to our customers, we increased our historical credit loss rates used to determine our March 31, 2020 allowance for credit losses in the first quarter of 2020. We continued to monitor and evaluate our expected credit losses using these increased credit loss rates for the three and nine months ended September 30, 2021. The adoption of the new accounting standard did not have a material impact on our consolidated financial statements and did not result in a transition adjustment to retained earnings. There was no credit loss expense during the three and nine months ended September 30, 2021

Revenues

Revenues	9 Months Ended
	Sep. 30, 2021
Revenue From Contract With Customer [Abstract]
Revenues	4. Revenues ASC Topic 606 Revenue from Contracts with Customers Our contracts with customers include both long-term and short-term contracts. Services that primarily generate our earned revenue include the operating business segments of contract drilling, pressure pumping and directional drilling, which comprise our reportable segments. We also derive revenues from our other operations, which include our operating business segments of oilfield rentals, equipment servicing, electrical controls and automation, and oil and natural gas working interests. For more information on our business segments, including disaggregated revenue recognized from contracts with customers, see Note 15. Charges for services are considered a series of distinct services. Since each distinct service in a series would be satisfied over time if it were accounted for separately, and the entity would measure its progress towards satisfaction using the same measure of progress for each distinct service in the series, we are able to account for these integrated services as a single performance obligation that is satisfied over time. The transaction price is the amount of consideration to which we expect to be entitled in exchange for transferring promised goods or services to a customer, based on terms of our contracts with our customers. The consideration promised in a contract with a customer may include fixed amounts and/or variable amounts. Payments received for services are considered variable consideration as the time in service will fluctuate as the services are provided. Topic 606 provides an allocation exception, which allows us to allocate variable consideration to one or more distinct services promised in a series of distinct services that form part of a single performance obligation as long as certain criteria are met. These criteria state that the variable payment must relate specifically to the entity’s efforts to satisfy the performance obligation or transfer the distinct good or service, and allocation of the variable consideration is consistent with the standards’ allocation objective. Since payments received for services meet both of these criteria requirements, we recognize revenue when the service is performed. An estimate of variable consideration should be constrained to the extent that it is not probable that a significant revenue reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Payments received for other types of consideration are fully constrained as they are highly susceptible to factors outside the entity’s influence and therefore could be subject to a significant revenue reversal once resolved. As such, revenue received for these types of consideration is recognized when the service is performed. Estimates of variable consideration are subject to change as facts and circumstances evolve. As such, we will evaluate our estimates of variable consideration that are subject to constraints throughout the contract period and revise estimates, if necessary, at the end of each reporting period. We are a non-operating working interest owner of oil and natural gas properties primarily located in Texas and New Mexico. The ownership terms are outlined in joint operating agreements for each well between the operator of the well and the various interest owners, including us, who are considered non-operators of the well. We receive revenue each period for our working interest in the well during the period. The revenue received for the working interests from these oil and gas properties does not fall under the scope of the new revenue standard, and therefore, will continue to be reported under current guidance ASC 932-323 Extractive Activities – Oil and Gas, Investments – Equity Method and Joint Ventures. Reimbursement Revenue — Reimbursements for the purchase of supplies, equipment, personnel services, shipping and other services that are provided at the request of our customers are recorded as revenue when incurred. The related costs are recorded as operating expenses when incurred. Operating Lease Revenue — Lease income from equipment that we lease to others is recognized on a straight-line basis over the lease term. Accounts Receivable and Contract Liabilities Accounts receivable is our right to consideration once it becomes unconditional. Payment terms typically range from 30 to 60 days . Accounts receivable balances were $259 million and $ 158 million as of September 30, 2021 and December 31, 2020, respectively. These balances do not include amounts related to our oil and gas working interests as those contracts are excluded from Topic 606. Accounts receivable balances are included in “Accounts receivable” in the condensed consolidated balance sheets. We do not have any significant contract asset balances. Contract liabilities include prepayments received from customers prior to the requested services being completed. Once the services are complete and have been invoiced, the prepayment is applied against the customer’s account to offset the accounts receivable balance. Also included in contract liabilities are payments received from customers for the initial mobilization of newly constructed or upgraded rigs that were moved on location to the initial well site. These mobilization payments are allocated to the overall performance obligation and amortized over the initial term of the contract. During the nine months ended September 30, 2021 , no such payments were amortized and recorded in drilling revenue. During the nine months ended September 30, 2020, approximately $ 0.1 million was amortized and recorded in drilling revenue. Total contract liability balances were $ 0.9 million and $ 0.6 million as of September 30, 2021 and December 31, 2020, respectively. Contract liability balances are included in “Accounts payable” and “Accrued liabilities” in the condensed consolidated balance sheets. Contract Costs Costs incurred for newly constructed or rig upgrades based on a contract with a customer are considered capital improvements and are capitalized to drilling equipment and depreciated over the estimated useful life of the asset. Recognition of Revenue from Performance Obligations Satisfied in a Prior Period During the nine months ended September 30, 2021 , we recorded revenue of $ 2.3 million associated with early termination revenue to which we were contractually entitled from one of our customers. While the performance obligations were satisfied during 2020, we did not record the related revenue due to our doubts about the customer’s ability and intent to pay substantially all of the consideration to which we were entitled in accordance with ASC Topic 606. Those doubts were resolved during the three months ended March 31, 2021, when collectability became probable from the counterparty in connection with its emergence from bankruptcy. In April 2021, we received consideration from the counterparty, which validated the accuracy and collectability of the revenue recorded in the first quarter of 2021.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventory	5. Inventory Inventory consisted of the following at September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Finished goods $ 566 $ 600 Work-in-process 943 802 Raw materials and supplies 33,415 31,683 Inventory $ 34,924 $ 33,085

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2021
Property Plant And Equipment [Abstract]
Property and Equipment	6. Property and Equipment Property and equipment consisted of the following at September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Equipment $ 7,559,061 $ 7,647,451 Oil and natural gas properties 229,224 222,738 Buildings 182,113 193,503 Land 24,562 25,781 Total property and equipment 7,994,960 8,089,473 Less accumulated depreciation, depletion and impairment ( 5,570,235 ) ( 5,328,432 ) Property and equipment, net $ 2,424,725 $ 2,761,041 On a periodic basis, we evaluate our fleet of drilling rigs for marketability based on the condition of inactive rigs, expenditures that would be necessary to bring them to working condition and the expected demand for drilling services by rig type. The components comprising rigs that will no longer be marketed are evaluated, and those components with continuing utility to our other marketed rigs are transferred to other rigs or to our yards to be used as spare equipment. The remaining components of these rigs are retired. We had no impairment related to the marketability or condition of our drilling rigs during the three and nine months ended September 30, 2021. We review our long-lived assets, including property and equipment, for impairment whenever events or changes in circumstances indicate that the carrying amounts of certain assets may not be recovered over their estimated remaining useful lives (“triggering events”). In connection with this review, assets are grouped at the lowest level at which identifiable cash flows are largely independent of other asset groupings. We estimate future cash flows over the life of the respective assets or asset groupings in our assessment of impairment. These estimates of cash flows are based on historical cyclical trends in the industry as well as our expectations regarding the continuation of these trends in the future. Provisions for asset impairment are charged against income when estimated future cash flows, on an undiscounted basis, are less than the asset’s net book value. Any provision for impairment is measured at fair value.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	7. Goodwill and Intangible Assets Goodwill — As a result of a triggering event in the first quarter of 2020, we fully impaired our remaining goodwill balance, and as a result, we had no goodwill balance as of September 30, 2021. At times when we have a goodwill balance, we are required to evaluate goodwill at least annually as of December 31, or when circumstances require, to determine if the fair value of recorded goodwill has decreased below its carrying value. For impairment testing purposes, goodwill is evaluated at the reporting unit level. Our reporting units for impairment testing are our operating segments. We determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value after considering qualitative, market and other factors, and if this is the case, any necessary goodwill impairment is determined using a quantitative impairment test. From time to time, we may perform quantitative testing for goodwill impairment in lieu of performing the qualitative assessment. If the resulting fair value of goodwill is less than the carrying value of goodwill, an impairment loss would be recognized for the amount of the shortfall. Due to the decline in the market price of our common stock and commodity prices in the first quarter of 2020, we lowered our expectations with respect to future activity levels in our contract drilling reporting unit. We performed a quantitative impairment assessment of our goodwill as of March 31, 2020. In completing the assessment, the fair value of our contract drilling operating segment was estimated using the income approach. The estimate of fair value required the use of significant unobservable inputs, representative of a Level 3 fair value measurement. The assumptions included discount rates, revenue growth rates, operating expense growth rates, and terminal growth rates. Based on the results of the goodwill impairment test as of March 31, 2020, impairment was indicated in our contract drilling reporting unit. We recognized an impairment charge of $ 395 million in the quarter ended March 31, 2020 associated with the impairment of all of the goodwill in our contract drilling reporting unit. Intangible Assets — The following table presents the gross carrying amount and accumulated amortization of our intangible assets as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 1,800 $ ( 750 ) $ 1,050 $ 28,000 $ ( 26,757 ) $ 1,243 Developed technology 55,772 ( 36,613 ) 19,159 55,772 ( 27,515 ) 28,257 Internal use software 1,251 ( 408 ) 843 906 ( 319 ) 587 $ 58,823 $ ( 37,771 ) $ 21,052 $ 84,678 $ ( 54,591 ) $ 30,087 Amortization expense on intangible assets of approximately $ 3.1 million and $ 5.3 million was recorded in the three months ended September 30, 2021 and 2020, respectively. Amortization expense on intangible assets of approximately $ 9.4 million and $ 15.9 million was recorded in the nine months ended September 30, 2021 and 2020, respectively.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2021
Payables And Accruals [Abstract]
Accrued Liabilities	8. Accrued Liabilities Accrued liabilities consisted of the following at September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Salaries, wages, payroll taxes and benefits $ 38,046 $ 37,627 Workers' compensation liability 62,428 70,847 Property, sales, use and other taxes 19,572 10,666 Insurance, other than workers' compensation 7,686 8,462 Accrued interest payable 10,101 11,325 Accrued restructuring expenses 7,884 14,310 Other 21,411 21,767 Accrued liabilities $ 167,128 $ 175,004

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	9. Long-Term Debt Long-term debt consisted of the following at September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Term Loan Agreement (Maturing June 2022) (1) $ 50,000 $ 50,000 3.95 % Senior Notes 509,505 509,505 5.15 % Senior Notes 349,250 349,250 908,755 908,755 Less deferred financing costs and discounts ( 6,651 ) ( 7,271 ) Total $ 902,104 $ 901,484 (1) The borrowings outstanding under the Term Loan Agreement maturing in June 2022 are classified as long-term because we have the ability and intent to repay these obligations utilizing our revolving credit facility. Our revolving credit facility matures in two increments in 2024 and 2025. 2019 Term Loan Agreement — On August 22, 2019 , we entered into a term loan agreement (“Term Loan Agreement”) among us, as borrower, Wells Fargo Bank, National Association, as administrative agent and lender and the other lender party thereto. The Term Loan Agreement is a committed senior unsecured term loan facility that permitted a single borrowing of up to $ 150 million initially, which we drew in full on September 23, 2019. Subject to customary conditions, we may request that the lenders’ aggregate commitments be increased by up to $ 75 million, not to exceed total commitments of $ 225 million. We repaid $ 50 million of the borrowings under the Term Loan Agreement on December 16, 2019, and an additional $ 50 million on December 24, 2020. As of September 30, 2021 , we had $ 50 million in borrowings remaining outstanding under the Term Loan Agreement at a LIBOR-based interest rate of 1.46 % . The maturity date under the Term Loan Agreement is June 10, 2022 . The borrowings outstanding under the Term Loan Agreement maturing in June 2022 are classified as long-term because we have the ability and intent to repay these obligations utilizing our revolving credit facility. Our revolving credit facility matures in two increments in 2024 and 2025. Loans under the Term Loan Agreement bear interest by reference, at our election, to the LIBOR rate or base rate. The applicable margin on LIBOR rate loans varies from 1.00 % to 1.375 %, and the applicable margin on base rate loans varies from 0.00 % to 0.375 %, in each case determined based upon our credit rating. As of September 30, 2021, the applicable margin on LIBOR rate loans and base rate loans was 1.375 % and 0.375 % , respectively. The Term Loan Agreement contains representations, warranties, affirmative and negative covenants and events of default and associated remedies that we believe are customary for agreements of this nature, including certain restrictions on our ability and the ability of each of our subsidiaries to incur debt and grant liens. If our credit rating is below investment grade at both Moody’s and S&P, we will become subject to a restricted payment covenant, which would require us to have a Pro Forma Debt Service Coverage Ratio (as defined in the Term Loan Agreement) greater than or equal to 1.50 to 1.00 immediately before and immediately after making any restricted payment. Restricted payments include, among other things, dividend payments, repurchases of our common stock, distributions to holders of our common stock or any other payment or other distribution to third parties on account of our or our subsidiaries’ equity interests. Our credit rating is currently investment grade at one of the two ratings agencies. The Term Loan Agreement requires mandatory prepayment in an amount equal to 100 % of the net cash proceeds from the issuance of new senior indebtedness (other than certain permitted indebtedness) if our credit rating is below investment grade at both Moody’s and S&P. Our credit rating is currently investment grade at one of the two ratings agencies. The Term Loan Agreement also requires that our total debt to capitalization ratio, expressed as a percentage, not exceed 50 %. The Term Loan Agreement generally defines the total debt to capitalization ratio as the ratio of (a) total borrowed money indebtedness to (b) the sum of such indebtedness plus consolidated net worth, with consolidated net worth determined as of the end of the most recently ended fiscal quarter. We were in compliance with these covenants at September 30, 2021. Credit Agreement — On March 27, 2018 , we entered into an amended and restated credit agreement (the “Credit Agreement”) among us, as borrower, Wells Fargo Bank, National Association, as administrative agent, letter of credit issuer, swing line lender and lender, each of the other lenders and letter of credit issuers party thereto, The Bank of Nova Scotia and U.S. Bank National Association, as Co-Syndication Agents, Royal Bank of Canada, as Documentation Agent and Wells Fargo Securities, LLC, The Bank of Nova Scotia and U.S. Bank National Association, as Co-Lead Arrangers and Joint Book Runners. The Credit Agreement is a committed senior unsecured revolving credit facility that permits aggregate borrowings of up to $ 600 million, including a letter of credit facility that, at any time outstanding, is limited to $ 150 million and a swing line facility that, at any time outstanding, is limited to $ 20 million. Subject to customary conditions, we may request that the lenders’ aggregate commitments be increased by up to $ 300 million, not to exceed total commitments of $ 900 million. The original maturity date under the Credit Agreement was March 27, 2023 . On March 26, 2019, we entered into Amendment No. 1 to Amended and Restated Credit Agreement, which amended the Credit Agreement to, among other things, extend the maturity date under the Credit Agreement from March 27, 2023 to March 27, 2024. On March 27, 2020, we entered into Amendment No. 2 to Amended and Restated Credit Agreement (“Amendment No. 2”) to, among other things, extend the maturity date for $ 550 million of revolving credit commitments of certain lenders under the Credit Agreement from March 27, 2024 to March 27, 2025 . We have the option, subject to certain conditions, to exercise an additional one-year extension of the maturity date. Loans under the Credit Agreement bear interest by reference, at our election, to the LIBOR rate or base rate. The applicable margin on LIBOR rate loans varies from 1.00 % to 2.00 % and the applicable margin on base rate loans varies from 0.00 % to 1.00 %, in each case determined based upon our credit rating. As of September 30, 2021, the applicable margin on LIBOR rate loans was 1.75 % and the applicable margin on base rate loans was 0.75 % . A letter of credit fee is payable by us equal to the applicable margin for LIBOR rate loans times the daily amount available to be drawn under outstanding letters of credit. The commitment fee rate payable to the lenders varies from 0.10 % to 0.30 % based on our credit rating. None of our subsidiaries are currently required to be a guarantor under the Credit Agreement. However, if any subsidiary guarantees or incurs debt in excess of the Priority Debt Basket (as defined in the Credit Agreement), such subsidiary is required to become a guarantor under the Credit Agreement. The Credit Agreement contains representations, warranties, affirmative and negative covenants and events of default and associated remedies that we believe are customary for agreements of this nature, including certain restrictions on our ability and the ability of each of our subsidiaries to incur debt and grant liens. If our credit rating is below investment grade at both Moody’s and S&P, we will become subject to a restricted payment covenant, which would require us to have a Pro Forma Debt Service Coverage Ratio (as defined in the Credit Agreement) greater than or equal to 1.50 to 1.00 immediately before and immediately after making any restricted payment. Restricted payments include, among other things, dividend payments, repurchases of our common stock, distributions to holders of our common stock or any other payment or other distribution to third parties on account of our or our subsidiaries’ equity interests. Our credit rating is currently investment grade at one of the two ratings agencies. The Credit Agreement also requires that our total debt to capitalization ratio, expressed as a percentage, not exceed 50 %. The Credit Agreement generally defines the total debt to capitalization ratio as the ratio of (a) total borrowed money indebtedness to (b) the sum of such indebtedness plus consolidated net worth, with consolidated net worth determined as of the end of the most recently ended fiscal quarter. We were in compliance with these covenants at September 30, 2021. As of September 30, 2021 , we had no borrowings outstanding under our revolving credit facility. We had $ 0.1 million in letters of credit outstanding under the Credit Agreement at September 30, 2021 and, as a result, had available borrowing capacity of approximately $ 600 million at that date. 2015 Reimbursement Agreement — On March 16, 2015, we entered into a Reimbursement Agreement (the “Reimbursement Agreement”) with The Bank of Nova Scotia (“Scotiabank”), pursuant to which we may from time to time request that Scotiabank issue an unspecified amount of letters of credit. As of September 30, 2021 , we had $ 63.6 million in letters of credit outstanding under the Reimbursement Agreement. Under the terms of the Reimbursement Agreement, we will reimburse Scotiabank on demand for any amounts that Scotiabank has disbursed under any letters of credit. Fees, charges and other reasonable expenses for the issuance of letters of credit are payable by us at the time of issuance at such rates and amounts as are in accordance with Scotiabank’s prevailing practice. We are obligated to pay to Scotiabank interest on all amounts not paid by us on the date of demand or when otherwise due at the LIBOR rate plus 2.25 % per annum, calculated daily and payable monthly, in arrears, on the basis of a calendar year for the actual number of days elapsed, with interest on overdue interest at the same rate as on the reimbursement amounts. We have also agreed that if obligations under the Credit Agreement are secured by liens on any of our or our subsidiaries’ property, then our reimbursement obligations and (to the extent similar obligations would be secured under the Credit Agreement) other obligations under the Reimbursement Agreement and any letters of credit will be equally and ratably secured by all property subject to such liens securing the Credit Agreement. Pursuant to a Continuing Guaranty dated as of March 16, 2015, our payment obligations under the Reimbursement Agreement are jointly and severally guaranteed as to payment and not as to collection by our subsidiaries that from time to time guarantee payment under the Credit Agreement. None of our subsidiaries are currently required to guarantee payment under the Credit Agreement. 2028 Senior Notes and 2029 Senior Notes — On January 19, 2018, we completed an offering of $ 525 million in aggregate principal amount of our 3.95% Senior Notes due 2028 (the “2028 Notes”). The net proceeds before offering expenses were approximately $ 521 million, of which we used $ 239 million to repay amounts outstanding under our revolving credit facility. On November 15, 2019, we completed an offering of $ 350 million in aggregate principal amount of our 5.15% Senior Notes due 2029 (the “2029 Notes”). The net proceeds before offering expenses were approximately $ 347 million. We used a portion of the net proceeds from the offering to prepay our Series B Senior Notes. The remaining net proceeds and available cash on hand was used to repay $ 50 million of the borrowings under the Term Loan Agreement in 2019. During the fourth quarter of 2020, we elected to repurchase portions of our 2028 Notes and 2029 Notes in the open market. The principal amounts retired through these transactions totaled $ 15.5 million related to our 2028 Notes and $ 0.8 million related to our 2029 Notes, plus accrued interest. We pay interest on the 2028 Notes on February 1 and August 1 of each year. The 2028 Notes will mature on February 1, 2028 . The 2028 Notes bear interest at a rate of 3.95 % per annum. We pay interest on the 2029 Notes on May 15 and November 15 of each year. The 2029 Notes will mature on November 15, 2029 . The 2029 Notes bear interest at a rate of 5.15 % per annum. The 2028 Notes and 2029 Notes (together, the “Senior Notes”) are our senior unsecured obligations, which rank equally with all of our other existing and future senior unsecured debt and will rank senior in right of payment to all of our other future subordinated debt. The Senior Notes will be effectively subordinated to any of our future secured debt to the extent of the value of the assets securing such debt. In addition, the Senior Notes will be structurally subordinated to the liabilities (including trade payables) of our subsidiaries that do not guarantee the Senior Notes. None of our subsidiaries are currently required to be a guarantor under the Senior Notes. If our subsidiaries guarantee the Senior Notes in the future, such guarantees (the “Guarantees”) will rank equally in right of payment with all of the guarantors’ future unsecured senior debt and senior in right of payment to all of the guarantors’ future subordinated debt. The Guarantees will be effectively subordinated to any of the guarantors’ future secured debt to the extent of the value of the assets securing such debt. At our option, we may redeem the Senior Notes in whole or in part, at any time or from time to time at a redemption price equal to 100 % of the principal amount of such Senior Notes to be redeemed, plus accrued and unpaid interest, if any, on those Senior Notes to the redemption date, plus a “make-whole” premium. Additionally, commencing on November 1, 2027, in the case of the 2028 Notes, and on August 15, 2029, in the case of the 2029 Notes, at our option, we may redeem the respective Senior Notes in whole or in part, at a redemption price equal to 100% of the principal amount of the Senior Notes to be redeemed, plus accrued and unpaid interest, if any, on those Senior Notes to the redemption date. The indentures pursuant to which the Senior Notes were issued include covenants that, among other things, limit our and our subsidiaries’ ability to incur certain liens, engage in sale and lease-back transactions or consolidate, merge, or transfer all or substantially all of their assets. These covenants are subject to important qualifications and limitations set forth in the indentures. Upon the occurrence of a change of control triggering event, as defined in the indentures, each holder of the Senior Notes may require us to purchase all or a portion of such holder’s Senior Notes at a price equal to 101 % of their principal amount, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. The indentures also provide for events of default which, if any of them occurs, would permit or require the principal of, premium, if any, and accrued interest, if any, on the Senior Notes to become or to be declared due and payable. Debt issuance costs — Debt issuance costs, except those related to line-of-credit arrangements, are presented in the balance sheet as a direct reduction of the carrying amount of the related debt. Debt issuance costs related to line-of-credit arrangements are included in “Other non-current assets” in the condensed consolidated balance sheets. Amortization of debt issuance costs is reported as interest expense. Interest expense related to the amortization of debt issuance costs was approximately $ 0.3 million for the three months ended September 30, 2021 and 2020, respectively, and $ 0.8 million for the nine months ended September 30, 2021 and 2020, respectively. Presented below is a schedule of the principal repayment requirements of long-term debt as of September 30, 2021 (in thousands): Year ending December 31, 2021 $ — 2022 50,000 2023 — 2024 — 2025 — Thereafter 858,755 Total $ 908,755

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies As of September 30, 2021 , we maintained letters of credit in the aggregate amount of $ 63.7 million primarily for the benefit of various insurance companies as collateral for retrospective premiums and retained losses which could become payable under the terms of the underlying insurance contracts. These letters of credit expire annually at various times during the year and are typically renewed. As of September 30, 2021 , no amounts had been drawn under the letters of credit. As of September 30, 2021 , we had commitments to purchase major equipment totaling approximately $ 58.3 million for our drilling, pressure pumping, directional drilling and oilfield rentals businesses. Our pressure pumping business has entered into agreements to purchase minimum quantities of proppants and chemicals from certain vendors. The agreements expire in years 2021 and 2022 . As of September 30, 2021 , the remaining minimum obligation under these agreements was approximately $ 9.0 million, of which approximately $ 7.3 million and $ 1.7 million relate to the remainder of 2021 and 2022, respectively. We are party to various legal proceedings arising in the normal course of our business. We do not believe that the outcome of these proceedings, either individually or in the aggregate, will have a material adverse effect on our financial condition, cash flows or results of operations.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders' Equity	11. Stockholders’ Equity Stockholder Rights Agreement — On April 22, 2020, our Board of Directors adopted a stockholder rights agreement and declared a dividend of one right (a “Right”) for each outstanding share of our common stock to stockholders of record at the close of business on May 8, 2020. Each Right entitled its holder, subject to the terms of the Rights Agreement (as defined below), to purchase from us one one-thousandth of a share of our Series A Junior Participating Preferred Stock, par value $ 0.01 per share, at an exercise price of $ 17.00 per Right, subject to adjustment. The description and terms of the Rights were set forth in a stockholder rights agreement, dated as of April 22, 2020 (the “Rights Agreement”), between us and Continental Stock Transfer & Trust Company, as rights agent (the “Rights Agent”). The Rights Agreement expired on April 21, 2021 . On October 27, 2021 , our Board of Directors approved a cash dividend on our common stock in the amount of $ 0.02 per share to be paid on December 16, 2021 to holders of record as of December 2, 2021 . The amount and timing of all future dividend payments, if any, are subject to the discretion of the Board of Directors and will depend upon business conditions, results of operations, financial condition, terms of our debt agreements and other factors. Share Repurchase and Acquisitions — On September 6, 2013, our Board of Directors approved a stock buyback program that authorized purchases of up to $ 200 million of our common stock in open market or privately negotiated transactions. The authorized repurchases under this program were subsequently increased in July 2018 and February 2019, and on July 24, 2019, our Board of Directors approved another increase of the authorization under the stock buyback program to allow for $ 250 million of future share repurchases. All purchases executed to date have been through open market transactions. Purchases under the program are made at management’s discretion, at prevailing prices, subject to market conditions and other factors. Purchases may be made at any time without prior notice. There is no expiration date associated with the buyback program. As of September 30, 2021 , we had remaining authorization to purchase approximately $ 130 million of our outstanding common stock under the stock buyback program. Shares of stock purchased under the buyback program are held as treasury shares. Treasury stock acquisitions during the nine months ended September 30, 2021 were as follows (dollars in thousands): Shares Cost Treasury shares at beginning of period 83,402,322 $ 1,366,313 Acquisitions pursuant to long-term incentive plan 434,224 3,574 Treasury shares at end of period 83,836,546 $ 1,369,887

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-based Compensation	12. Stock-based Compensation We use share-based payments to compensate employees and non-employee directors. We recognize the cost of share-based payments under the fair-value-based method. Outstanding share-based awards include equity instruments in the form of stock options or restricted stock units that have included service conditions and, in certain cases, performance conditions. Our share-based awards also include share-settled performance unit awards. Share-settled performance unit awards are accounted for as equity awards. In 2020, we granted performance-based cash-settled phantom units, which are accounted for as a liability classified award. We issue shares of common stock when vested stock options are exercised, when restricted stock is granted and when restricted stock units and share-settled performance unit awards vest. On April 9, 2021, subject to the approval of our stockholders, our Board of Directors approved the Patterson-UTI Energy, Inc. 2021 Long-Term Incentive Plan (the “2021 Plan”). On June 3, 2021, our stockholders approved the 2021 Plan. The aggregate number of shares of Common Stock authorized for grant under the 2021 Plan is approximately 13.5 million, which includes approximately 4.9 million shares previously authorized under our Amended and Restated 2014 Long-Term Incentive Plan, as amended (the “2014 Plan”). Stock Options — We estimate the grant date fair values of stock options using the Black-Scholes-Merton valuation model. Volatility assumptions are based on the historic volatility of our common stock over the most recent period equal to the expected term of the options as of the date such options are granted. The expected term assumptions are based on our experience with respect to employee stock option activity. Dividend yield assumptions are based on the expected dividends at the time the options are granted. The risk-free interest rate assumptions are determined by reference to United States Treasury yields. No options were granted during the nine months ended September 30, 2021 or 2020. Stock option activity from January 1, 2021 to September 30, 2021 follows: Weighted Average Underlying Exercise Price Shares Per Share Outstanding at January 1, 2021 4,026,150 $ 21.63 Exercised — $ — Expired ( 276,000 ) $ 31.20 Outstanding at September 30, 2021 3,750,150 $ 20.92 Exercisable at September 30, 2021 3,750,150 $ 20.92 Restricted Stock Units — For all restricted stock unit awards made to date, shares of common stock are not issued until the units vest. Restricted stock units are subject to forfeiture for failure to fulfill service conditions and, in certain cases, performance conditions. Forfeitable dividend equivalents are accrued on certain restricted stock units that will be paid upon vesting. We use the straight-line method to recognize periodic compensation cost over the vesting period. Restricted stock unit activity from January 1, 2021 to September 30, 2021 follows: Weighted Average Grant Time Performance Date Fair Value Based Based Per Share Non-vested restricted stock units outstanding at January 1, 2021 2,741,548 359,315 $ 9.52 Granted 1,797,875 — $ 8.32 Vested ( 1,235,616 ) — $ 10.44 Forfeited ( 109,399 ) — $ 10.88 Non-vested restricted stock units outstanding at September 30, 2021 3,194,408 359,315 $ 8.55 As of September 30, 2021, we had unrecognized compensation cost related to our unvested restricted stock units totaling $ 20.9 million. The weighted-average remaining vesting period for these unvested restricted stock units was 1.84 years. Performance Unit Awards — We have granted share-settled performance unit awards to certain employees (the “Performance Units”) on an annual basis since 2010. The Performance Units provide for the recipients to receive a grant of shares of common stock upon the achievement of certain performance goals during a specified period established by the Compensation Committee. The performance period for the Performance Units is usually the three-year period commencing on April 1 of the year of grant. The performance goals for the Performance Units are tied to our total shareholder return for the performance period as compared to total shareholder return for a peer group determined by the Compensation Committee. For the performance units granted in April 2021, the peer group also includes three market indices. These goals are considered to be market conditions under the relevant accounting standards and the market conditions were factored into the determination of the fair value of the respective Performance Units. Under the Performance Units granted beginning in April 2019, the recipients will receive the target number of shares if our total shareholder return during the performance period, when compared to the peer group, is at the 55 th percentile. If our total shareholder return during the performance period, when compared to the peer group, is at the 75 th percentile or higher, then the recipients will receive two times the target number of shares. If our total shareholder return during the performance period, when compared to the peer group, is at the 25 th percentile, then the recipients will only receive one-half of the target number of shares. If our total shareholder return during the performance period, when compared to the peer group, is between the 25 th and 55 th percentile, or the 55 th and 75 th percentile, then the shares to be received by the recipients will be determined using linear interpolation for levels of achievement between these points. Under the Performance Units granted beginning in April 2019, the payout shall not exceed the target number of shares if our total shareholder return is negative or zero. Additionally, the Performance Units granted in April 2020 will not pay out if our total shareholder return is not equal to or greater than the total stockholder return of the S&P 500 Index for the Performance Period. The total target number of shares with respect to the Performance Units for the awards granted in 2017-2021 is set forth below: 2021 2020 2019 2018 2017 Performance Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Unit Awards Target number of shares 843,000 500,500 489,800 310,700 186,198 In April 2021, 621,400 shares were issued to settle the 2018 Performance Units. The Performance Units granted in 2019, 2020 and 2021 have not reached the end of their respective performance periods. Because the Performance Units are share-settled awards, they are accounted for as equity awards and measured at fair value on the date of grant using a Monte Carlo simulation model. The fair value of the Performance Units is set forth below (in thousands): 2021 2020 2019 2018 2017 Performance Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Unit Awards Aggregate fair value at date of grant $ 7,225 $ 826 $ 9,958 $ 8,004 $ 5,780 These fair value amounts are charged to expense on a straight-line basis over the performance period. Compensation expense associated with the Performance Units is shown below (in thousands): 2021 2020 2019 2018 2017 Performance Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Unit Awards Three months ended September 30, 2021 $ 602 $ 69 $ 830 NA NA Three months ended September 30, 2020 NA $ 69 $ 830 $ 667 NA Nine months ended September 30, 2021 $ 1,204 $ 206 $ 2,489 $ 667 NA Nine months ended September 30, 2020 NA $ 138 $ 2,489 $ 2,001 $ 642 As of September 30, 2021, we had unrecognized compensation cost related to our unvested Performance Units totaling $ 8.1 million. The weighted-average remaining vesting period for these unvested Performance Units was 1.70 years. Phantom Units — In May 2020, the Compensation Committee approved a grant of long-term performance-based phantom units to our Chief Executive Officer and President, William A. Hendricks, Jr (the “Phantom Units”). The Phantom Units were granted outside of the 2014 Plan. Pursuant to this phantom unit grant, Mr. Hendricks may earn from 0 % to 200 % of a target award of 298,500 phantom units based on our achievement of the same performance conditions over the same Performance Period that applies to the Performance Units granted in April 2020, as described above. Earned Phantom Units, if any, will be settled in 2023 , following completion of the three-year Performance Period, in a cash payment equal to the number of earned phantom units multiplied by our average trading price per share over the twenty consecutive trading days ending March 31, 2023. Because the Phantom Units are cash-settled awards, they are accounted for as a liability classified award. The grant date fair value of the Phantom Units was $ 1.2 million. Compensation expense is recognized on a straight-line basis over the performance period, with the amount recognized fluctuating as a result of the Phantom Units being remeasured to fair value at the end of each reporting period due to their liability-award classification. We recognized a $ 0.2 million decrease to compensation expense associated with the Phantom Units during the three months ended September 30, 2021 due to a decrease in fair value for the period, and minimal expense during the three months ended September 30, 2020. We recognized $ 1.3 million and $ 0.2 million for the nine months ended September 30, 2021 and 2020, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes Our effective income tax rate fluctuates from the U.S. statutory tax rate based on, among other factors, changes in pretax income in jurisdictions with varying statutory tax rates, the impact of U.S. state and local taxes, the realizability of deferred tax assets and other differences related to the recognition of income and expense between U.S. GAAP and tax accounting. Our effective income tax rate for the three months ended September 30, 2021 was 17.5 %, compared with 10.4 % for the three months ended September 30, 2020. The higher effective income tax rate for the three months ended September 30, 2021 was primarily attributable to the non-deductible portion of the goodwill impairment included in the 2020 estimated annual effective tax rate. This was partially offset by the valuation allowance included in the 2021 estimated annual effective tax rate. Our effective income tax rate for the nine months ended September 30, 2021 was 15.7 %, compared with 12.8 % for the nine months ended September 30, 2020. The higher effective income tax rate for the nine months ended September 30, 2021 was primarily attributable to the non-deductible portion of the goodwill impairment included in the 2020 estimated annual effective tax rate. This was partially offset by the valuation allowance included in the 2021 estimated annual effective tax rate, and also state rate changes enacted during 2021. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized, and when necessary valuation allowances are provided. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. We assess the realizability of our deferred tax assets quarterly and consider carryback availability, the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. In the third quarter of 2021, the effective tax rate takes into consideration the estimated valuation allowance based on forecasted 2021 income. We continue to monitor income tax developments in the United States and other countries where we have legal entities. During the first quarter of 2021, the United States enacted the American Rescue Plan of 2021, which contains various tax provisions. As a result of this legislation, we have considered these tax provisions and do not expect any material impacts to our financial statements. We will incorporate into our future financial statements the impacts, if any, of future regulations and additional authoritative guidance when finalized.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	14. Earnings Per Share We provide a dual presentation of our net loss per common share in our unaudited condensed consolidated statements of operations: basic net loss per common share (“Basic EPS”) and diluted net loss per common share (“Diluted EPS”). Basic EPS excludes dilution and is computed by first allocating earnings between common stockholders and holders of non-vested shares of restricted stock. Basic EPS is then determined by dividing the earnings attributable to common stockholders by the weighted average number of common shares outstanding during the period, excluding non-vested shares of restricted stock. Diluted EPS is based on the weighted average number of common shares outstanding plus the dilutive effect of potential common shares, including stock options, non-vested shares of restricted stock, performance units and restricted stock units. The dilutive effect of stock options, performance units and non-vested restricted stock units is determined using the treasury stock method. The following table presents information necessary to calculate net loss per share for the three and nine months ended September 30, 2021 and 2020 as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 BASIC EPS: Net loss attributed to common stockholders ( 82,998 ) $ ( 112,111 ) ( 292,720 ) $ ( 697,165 ) Weighted average number of common shares outstanding, excluding 188,965 187,280 188,355 188,193 Basic net loss per common share $ ( 0.44 ) $ ( 0.60 ) $ ( 1.55 ) $ ( 3.70 ) DILUTED EPS: Net loss attributed to common stockholders ( 82,998 ) $ ( 112,111 ) ( 292,720 ) $ ( 697,165 ) Weighted average number of common shares outstanding, excluding 188,965 187,280 188,355 188,193 Add dilutive effect of potential common shares — — — — Weighted average number of diluted common shares outstanding 188,965 187,280 188,355 188,193 Diluted net loss per common share $ ( 0.44 ) $ ( 0.60 ) $ ( 1.55 ) $ ( 3.70 ) Potentially dilutive securities excluded as anti-dilutive 9,334 8,490 9,334 8,490

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Business Segments	15. Business Segments At September 30, 2021 , we had three reportable business segments: (i) contract drilling of oil and natural gas wells, (ii) pressure pumping services and (iii) directional drilling services. Each of these segments represents a distinct type of business and has a separate management team that reports to our chief operating decision maker. The results of operations in these segments are regularly reviewed by the chief operating decision maker for purposes of determining resource allocation and assessing performance. The following tables summarize selected financial information relating to our business segments (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Revenues: Contract drilling $ 158,154 $ 115,105 $ 434,080 $ 554,421 Pressure pumping 152,634 71,973 340,464 256,613 Directional drilling 31,728 10,271 76,267 56,498 Other operations (1) 20,744 11,756 53,561 46,061 Elimination of intercompany revenues - Contract drilling (2) ( 229 ) ( 51 ) ( 922 ) ( 869 ) Elimination of intercompany revenues - Other operations (2) ( 5,146 ) ( 1,913 ) ( 12,862 ) ( 9,276 ) Total revenues $ 357,885 $ 207,141 $ 890,588 $ 903,448 Income (loss) before income taxes: Contract drilling $ ( 51,830 ) $ ( 47,214 ) $ ( 158,680 ) $ ( 481,974 ) Pressure pumping ( 13,774 ) ( 30,856 ) ( 77,434 ) ( 134,896 ) Directional drilling ( 4,581 ) ( 9,912 ) ( 14,614 ) ( 34,892 ) Other operations ( 1,335 ) ( 6,421 ) ( 9,178 ) ( 35,547 ) Corporate ( 18,489 ) ( 20,163 ) ( 57,040 ) ( 75,145 ) Credit loss expense — — — ( 5,606 ) Interest income 37 238 196 1,229 Interest expense ( 10,683 ) ( 11,288 ) ( 31,396 ) ( 33,496 ) Other 14 512 840 682 Loss before income taxes $ ( 100,641 ) $ ( 125,104 ) $ ( 347,306 ) $ ( 799,645 ) Depreciation, depletion, amortization and impairment: Contract drilling $ 97,160 $ 102,275 $ 297,426 $ 328,843 Pressure pumping 29,838 37,104 98,963 118,586 Directional drilling 6,772 9,600 19,863 29,698 Other operations 5,866 6,852 17,309 35,087 Corporate 1,429 1,488 4,423 4,987 Total depreciation, depletion, amortization and impairment $ 141,065 $ 157,319 $ 437,984 $ 517,201 Capital expenditures: Contract drilling $ 21,239 $ 9,502 $ 56,708 $ 101,448 Pressure pumping 6,468 1,653 19,457 17,880 Directional drilling 3,290 510 4,613 4,562 Other operations 2,833 1,704 9,006 9,776 Corporate 434 73 1,053 1,377 Total capital expenditures $ 34,264 $ 13,442 $ 90,837 $ 135,043 September 30, 2021 December 31, 2020 Identifiable assets: Contract drilling $ 2,099,859 $ 2,315,318 Pressure pumping 474,013 486,702 Directional drilling 105,368 107,807 Other operations 85,713 88,676 Corporate (3) 252,510 300,566 Total assets $ 3,017,463 $ 3,299,069 (1) Other operations includes our oilfi eld rentals business, drilling equipment service business, the electrical controls and automation business and the oil and natural gas working interests. (2) I ntercompany revenues consist of revenues from contract drilling for services provided to our other operations, and revenues from other operations for services provided to contract drilling, pressure pumping and within other operations . These revenues are generally based on estimated external selling prices and are eliminated during consolidation. (3) Corporate assets primarily include cash on hand and certain property and equipment.

Fair Values of Financial Instru

Fair Values of Financial Instruments	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Values of Financial Instruments	16. Fair Values of Financial Instruments The carrying values of cash and cash equivalents, trade receivables and accounts payable approximate fair value due to the short-term maturity of these items. These fair value estimates are considered Level 1 fair value estimates in the fair value hierarchy of fair value accounting. The estimated fair value of our outstanding debt balances as of September 30, 2021 and December 31, 2020 is set forth below (in thousands): September 30, 2021 December 31, 2020 Carrying Fair Carrying Fair Value Value Value Value Term Loan Agreement $ 50,000 $ 50,000 $ 50,000 $ 50,000 3.95% Senior Notes 509,505 513,367 509,505 471,019 5.15% Senior Notes 349,250 360,443 349,250 319,560 Total debt $ 908,755 $ 923,810 $ 908,755 $ 840,579 The fair values of the 3.95 % Senior Notes at September 30, 2021 and December 31, 2020 are based on discounted cash flows associated with the notes using the 3.81 % market rate of interest at September 30, 2021 and the 5.24 % market rate of interest at December 31, 2020. The fair values of the 5.15 % Senior Notes at September 30, 2021 and December 31, 2020 are based on discounted cash flows associated with the notes using the 4.67 % market rate of interest at September 30, 2021 and the 6.42 % market rate of interest at December 31, 2020. The fair value estimates of the 3.95% Senior Notes and the 5.15% Senior Notes are considered Level 1 fair value estimates in the fair value hierarchy of fair value accounting. The carrying values of the balance outstanding at September 30, 2021 under the Term Loan Agreement approximated its fair value as the instrument has a floating interest rate.

Restructuring Expenses

Restructuring Expenses	9 Months Ended
	Sep. 30, 2021
Restructuring Costs [Abstract]
Restructuring Expenses	17. Restructuring Expenses During the second quarter of 2020, we implemented a restructuring plan to improve operating margins, achieve operational efficiencies and reduce indirect support costs. The restructuring included workforce reductions, changes to management structure and facility consolidations and closures. We recorded $ 38.3 million of charges associated with this plan in the second quarter of 2020 . We completed the restructuring plan during the third quarter of 2020 and did not incur additional expenses related to the plan. Contract termination costs related primarily to agreements to purchase minimum quantities of proppants (sand) from certain vendors. These costs were primarily comprised of a $ 5.3 million negotiated settlement and termination of a contract to purchase minimum quantities of sand and $ 14.0 million of contractual future payments under two contracts to purchase minimum quantities of sand without future economic benefit to us. We will not receive any sand under these contracts. Other exit costs related primarily to facility closure costs and moving expenses. The right of use (“ROU”) asset abandonments related to facility and equipment ROU assets abandoned as a result of restructuring. The following table presents restructuring expenses by reportable segment for the nine months ended September 30, 2020 (in thousands): Contract Drilling Pressure Pumping Directional Drilling Other Operations Corporate Total Severance costs $ 1,821 $ 3,460 $ 503 $ 501 $ 215 $ 6,500 Contract termination costs — 20,373 — — — 20,373 Other exit costs 523 194 827 — — 1,544 ROU asset abandonments 86 7,304 1,845 — 686 9,921 Total $ 2,430 $ 31,331 $ 3,175 $ 501 $ 901 $ 38,338

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Recently Issued Accounting Standards	Recently Adopted Accounting Standards — In June 2016, the FASB issued an accounting standards update on measurement of credit losses on financial instruments. The new guidance requires us to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The new standard is effective for fiscal years beginning after December 15, 2019, including all interim periods within those years. We adopted ASU 2016-13 as of January 1, 2020. The adoption of this guidance and recognition of a loss allowance at an amount equal to expected credit losses for accounts receivable was not material and did not result in a transition adjustment to retained earnings. For more information regarding credit losses, see Note 3. In August 2018, the FASB issued an accounting standards update to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The capitalized implementation costs of a hosting arrangement that is a service contract will be expensed over the term of the hosting arrangement. We adopted this new guidance on January 1, 2020 prospectively with respect to all implementation costs incurred after the date of adoption. There was no material impact on our consolidated financial statements. In August 2018, the FASB issued an accounting standards update to eliminate certain disclosure requirements for fair value measurements for all entities, require public entities to disclose certain new information and modify certain disclosure requirements. The FASB developed the amendments to Topic 820 as part of its broader disclosure framework project, which aims to improve the effectiveness of disclosures in the notes to financial statements by focusing on requirements that clearly communicate the most important information to users of the financial statements. We adopted this new guidance on January 1, 2020 and there was no material impact on our consolidated financial statements. In December 2019, the FASB issued an accounting standards update to simplify the accounting for income taxes. The amendments in the update are effective for public business entities for fiscal years beginning after December 15, 2020, with early adoption permitted. We adopted this new guidance on January 1, 2021, and there was no material impact on our consolidated financial statements. Recently Issued Accounting Standards — In March 2020, the FASB issued an accounting standards update to provide temporary optional expedients that simplify the accounting for contract modifications to existing debt agreements expected to arise from the market transition from LIBOR to alternative reference rates. The amendments in the update are effective as of March 12, 2020 through December 31, 2022 and may be applied to contract modifications from the beginning of an interim period that includes or is subsequent to March 12, 2020. We plan to adopt this standard when LIBOR is discontinued, and we do not expect this new guidance will have a material impact on our consolidated financial statements.

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventory	Inventory consisted of the following at September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Finished goods $ 566 $ 600 Work-in-process 943 802 Raw materials and supplies 33,415 31,683 Inventory $ 34,924 $ 33,085

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2021
Property Plant And Equipment [Abstract]
Property and Equipment	Property and equipment consisted of the following at September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Equipment $ 7,559,061 $ 7,647,451 Oil and natural gas properties 229,224 222,738 Buildings 182,113 193,503 Land 24,562 25,781 Total property and equipment 7,994,960 8,089,473 Less accumulated depreciation, depletion and impairment ( 5,570,235 ) ( 5,328,432 ) Property and equipment, net $ 2,424,725 $ 2,761,041

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Gross Carrying Amount and Accumulated Amortization of Intangible Assets	Intangible Assets — The following table presents the gross carrying amount and accumulated amortization of our intangible assets as of September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 1,800 $ ( 750 ) $ 1,050 $ 28,000 $ ( 26,757 ) $ 1,243 Developed technology 55,772 ( 36,613 ) 19,159 55,772 ( 27,515 ) 28,257 Internal use software 1,251 ( 408 ) 843 906 ( 319 ) 587 $ 58,823 $ ( 37,771 ) $ 21,052 $ 84,678 $ ( 54,591 ) $ 30,087

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Payables And Accruals [Abstract]
Summary of Accrued Liabilities	Accrued liabilities consisted of the following at September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Salaries, wages, payroll taxes and benefits $ 38,046 $ 37,627 Workers' compensation liability 62,428 70,847 Property, sales, use and other taxes 19,572 10,666 Insurance, other than workers' compensation 7,686 8,462 Accrued interest payable 10,101 11,325 Accrued restructuring expenses 7,884 14,310 Other 21,411 21,767 Accrued liabilities $ 167,128 $ 175,004

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Summary of Long Term Debt	Long-term debt consisted of the following at September 30, 2021 and December 31, 2020 (in thousands): September 30, 2021 December 31, 2020 Term Loan Agreement (Maturing June 2022) (1) $ 50,000 $ 50,000 3.95 % Senior Notes 509,505 509,505 5.15 % Senior Notes 349,250 349,250 908,755 908,755 Less deferred financing costs and discounts ( 6,651 ) ( 7,271 ) Total $ 902,104 $ 901,484 (1) The borrowings outstanding under the Term Loan Agreement maturing in June 2022 are classified as long-term because we have the ability and intent to repay these obligations utilizing our revolving credit facility. Our revolving credit facility matures in two increments in 2024 and 2025.
Schedule of Principal Repayment Requirements of Long Term Debt	Presented below is a schedule of the principal repayment requirements of long-term debt as of September 30, 2021 (in thousands): Year ending December 31, 2021 $ — 2022 50,000 2023 — 2024 — 2025 — Thereafter 858,755 Total $ 908,755

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Treasury Stock Acquisition	Treasury stock acquisitions during the nine months ended September 30, 2021 were as follows (dollars in thousands): Shares Cost Treasury shares at beginning of period 83,402,322 $ 1,366,313 Acquisitions pursuant to long-term incentive plan 434,224 3,574 Treasury shares at end of period 83,836,546 $ 1,369,887

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Option Activity	Stock option activity from January 1, 2021 to September 30, 2021 follows: Weighted Average Underlying Exercise Price Shares Per Share Outstanding at January 1, 2021 4,026,150 $ 21.63 Exercised — $ — Expired ( 276,000 ) $ 31.20 Outstanding at September 30, 2021 3,750,150 $ 20.92 Exercisable at September 30, 2021 3,750,150 $ 20.92
Restricted Stock Unit Activity	Restricted stock unit activity from January 1, 2021 to September 30, 2021 follows: Weighted Average Grant Time Performance Date Fair Value Based Based Per Share Non-vested restricted stock units outstanding at January 1, 2021 2,741,548 359,315 $ 9.52 Granted 1,797,875 — $ 8.32 Vested ( 1,235,616 ) — $ 10.44 Forfeited ( 109,399 ) — $ 10.88 Non-vested restricted stock units outstanding at September 30, 2021 3,194,408 359,315 $ 8.55
Performance Units	The total target number of shares with respect to the Performance Units for the awards granted in 2017-2021 is set forth below: 2021 2020 2019 2018 2017 Performance Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Unit Awards Target number of shares 843,000 500,500 489,800 310,700 186,198
Fair Value of Performance Units	The fair value of the Performance Units is set forth below (in thousands): 2021 2020 2019 2018 2017 Performance Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Unit Awards Aggregate fair value at date of grant $ 7,225 $ 826 $ 9,958 $ 8,004 $ 5,780
Compensation Expense Associated with Performance Units	Compensation expense associated with the Performance Units is shown below (in thousands): 2021 2020 2019 2018 2017 Performance Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Unit Awards Three months ended September 30, 2021 $ 602 $ 69 $ 830 NA NA Three months ended September 30, 2020 NA $ 69 $ 830 $ 667 NA Nine months ended September 30, 2021 $ 1,204 $ 206 $ 2,489 $ 667 NA Nine months ended September 30, 2020 NA $ 138 $ 2,489 $ 2,001 $ 642

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Net Loss per Share	The following table presents information necessary to calculate net loss per share for the three and nine months ended September 30, 2021 and 2020 as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 BASIC EPS: Net loss attributed to common stockholders ( 82,998 ) $ ( 112,111 ) ( 292,720 ) $ ( 697,165 ) Weighted average number of common shares outstanding, excluding 188,965 187,280 188,355 188,193 Basic net loss per common share $ ( 0.44 ) $ ( 0.60 ) $ ( 1.55 ) $ ( 3.70 ) DILUTED EPS: Net loss attributed to common stockholders ( 82,998 ) $ ( 112,111 ) ( 292,720 ) $ ( 697,165 ) Weighted average number of common shares outstanding, excluding 188,965 187,280 188,355 188,193 Add dilutive effect of potential common shares — — — — Weighted average number of diluted common shares outstanding 188,965 187,280 188,355 188,193 Diluted net loss per common share $ ( 0.44 ) $ ( 0.60 ) $ ( 1.55 ) $ ( 3.70 ) Potentially dilutive securities excluded as anti-dilutive 9,334 8,490 9,334 8,490

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Business Segments - Financial Information	The following tables summarize selected financial information relating to our business segments (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Revenues: Contract drilling $ 158,154 $ 115,105 $ 434,080 $ 554,421 Pressure pumping 152,634 71,973 340,464 256,613 Directional drilling 31,728 10,271 76,267 56,498 Other operations (1) 20,744 11,756 53,561 46,061 Elimination of intercompany revenues - Contract drilling (2) ( 229 ) ( 51 ) ( 922 ) ( 869 ) Elimination of intercompany revenues - Other operations (2) ( 5,146 ) ( 1,913 ) ( 12,862 ) ( 9,276 ) Total revenues $ 357,885 $ 207,141 $ 890,588 $ 903,448 Income (loss) before income taxes: Contract drilling $ ( 51,830 ) $ ( 47,214 ) $ ( 158,680 ) $ ( 481,974 ) Pressure pumping ( 13,774 ) ( 30,856 ) ( 77,434 ) ( 134,896 ) Directional drilling ( 4,581 ) ( 9,912 ) ( 14,614 ) ( 34,892 ) Other operations ( 1,335 ) ( 6,421 ) ( 9,178 ) ( 35,547 ) Corporate ( 18,489 ) ( 20,163 ) ( 57,040 ) ( 75,145 ) Credit loss expense — — — ( 5,606 ) Interest income 37 238 196 1,229 Interest expense ( 10,683 ) ( 11,288 ) ( 31,396 ) ( 33,496 ) Other 14 512 840 682 Loss before income taxes $ ( 100,641 ) $ ( 125,104 ) $ ( 347,306 ) $ ( 799,645 ) Depreciation, depletion, amortization and impairment: Contract drilling $ 97,160 $ 102,275 $ 297,426 $ 328,843 Pressure pumping 29,838 37,104 98,963 118,586 Directional drilling 6,772 9,600 19,863 29,698 Other operations 5,866 6,852 17,309 35,087 Corporate 1,429 1,488 4,423 4,987 Total depreciation, depletion, amortization and impairment $ 141,065 $ 157,319 $ 437,984 $ 517,201 Capital expenditures: Contract drilling $ 21,239 $ 9,502 $ 56,708 $ 101,448 Pressure pumping 6,468 1,653 19,457 17,880 Directional drilling 3,290 510 4,613 4,562 Other operations 2,833 1,704 9,006 9,776 Corporate 434 73 1,053 1,377 Total capital expenditures $ 34,264 $ 13,442 $ 90,837 $ 135,043 September 30, 2021 December 31, 2020 Identifiable assets: Contract drilling $ 2,099,859 $ 2,315,318 Pressure pumping 474,013 486,702 Directional drilling 105,368 107,807 Other operations 85,713 88,676 Corporate (3) 252,510 300,566 Total assets $ 3,017,463 $ 3,299,069 (1) Other operations includes our oilfi eld rentals business, drilling equipment service business, the electrical controls and automation business and the oil and natural gas working interests. (2) I ntercompany revenues consist of revenues from contract drilling for services provided to our other operations, and revenues from other operations for services provided to contract drilling, pressure pumping and within other operations . These revenues are generally based on estimated external selling prices and are eliminated during consolidation. (3) Corporate assets primarily include cash on hand and certain property and equipment.

Fair Values of Financial Inst_2

Fair Values of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Estimated Fair Value of Outstanding Debt Balances	The estimated fair value of our outstanding debt balances as of September 30, 2021 and December 31, 2020 is set forth below (in thousands): September 30, 2021 December 31, 2020 Carrying Fair Carrying Fair Value Value Value Value Term Loan Agreement $ 50,000 $ 50,000 $ 50,000 $ 50,000 3.95% Senior Notes 509,505 513,367 509,505 471,019 5.15% Senior Notes 349,250 360,443 349,250 319,560 Total debt $ 908,755 $ 923,810 $ 908,755 $ 840,579

Restructuring Expenses (Tables)

Restructuring Expenses (Tables)	9 Months Ended
	Sep. 30, 2021
Restructuring Costs [Abstract]
Restructuring Expenses by Reportable Segment	The following table presents restructuring expenses by reportable segment for the nine months ended September 30, 2020 (in thousands): Contract Drilling Pressure Pumping Directional Drilling Other Operations Corporate Total Severance costs $ 1,821 $ 3,460 $ 503 $ 501 $ 215 $ 6,500 Contract termination costs — 20,373 — — — 20,373 Other exit costs 523 194 827 — — 1,544 ROU asset abandonments 86 7,304 1,845 — 686 9,921 Total $ 2,430 $ 31,331 $ 3,175 $ 501 $ 901 $ 38,338

Acquisition - Additional Inform

Acquisition - Additional Information (Details) - Pioneer Energy Services Corp. - Subsequent Event $ / shares in Units, $ in Millions	Oct. 01, 2021USD ($)Rigs$ / sharesshares
Business Acquisition [Line Items]
Aggregate consideration of common stock | shares	26,300,000
Consideration paid in cash | $	$ 30
Closing price | $ / shares	$ 9.44
Business Combination, Consideration Transferred | $	$ 278
Proportion of common stock shares received | shares	1.8692
Oil and Gas, Exploration and Production | Drilling Rig
Business Acquisition [Line Items]
Percentage of acquired pad-capable drilling rig fleet	100.00%
Oil and Gas, Exploration and Production | Well Servicing Rigs
Business Acquisition [Line Items]
Number of services assets units acquired	123
Oil and Gas, Exploration and Production | Wireline Service Unit
Business Acquisition [Line Items]
Number of services assets units acquired	72
Oil and Gas, Exploration and Production | COLOMBIA | SCR Rigs
Business Acquisition [Line Items]
Number of units acquired	8
Oil and Gas, Exploration and Production | UNITED STATES | AC Rigs
Business Acquisition [Line Items]
Number of units acquired	17

Credit Losses - Additional Info

Credit Losses - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Credit Loss [Abstract]
Credit loss expense	$ 0	$ 0	$ 0	$ 5,606,000

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Disaggregation Of Revenue [Line Items]
Accounts receivable balances	$ 263,186,000		$ 263,186,000		$ 160,214,000
Total revenues	357,885,000	$ 207,141,000	890,588,000	$ 903,448,000
ASC Topic 606 Revenue from Contracts with Customers
Disaggregation Of Revenue [Line Items]
Accounts receivable balances					158,000,000
Total revenues			2,300,000	0
ASC Topic 606 Revenue from Contracts with Customers | Accounts Payable
Disaggregation Of Revenue [Line Items]
Total contract liability	$ 900,000		900,000		$ 600,000
ASC Topic 606 Revenue from Contracts with Customers | Contract Drilling
Disaggregation Of Revenue [Line Items]
Amortized revenue			$ 0	$ 100,000
Maximum
Disaggregation Of Revenue [Line Items]
Accounts receivable payment terms			60 days
Minimum
Disaggregation Of Revenue [Line Items]
Accounts receivable payment terms			30 days

Inventory (Detail)

Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory Net [Abstract]
Finished goods	$ 566	$ 600
Work-in-process	943	802
Raw materials and supplies	33,415	31,683
Inventory	$ 34,924	$ 33,085

Property and Equipment (Detail)

Property and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Total property and equipment	$ 7,994,960	$ 8,089,473
Less accumulated depreciation, depletion and impairment	(5,570,235)	(5,328,432)
Property and equipment, net	2,424,725	2,761,041
Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	7,559,061	7,647,451
Oil and natural gas properties
Property Plant And Equipment [Line Items]
Total property and equipment	229,224	222,738
Buildings
Property Plant And Equipment [Line Items]
Total property and equipment	182,113	193,503
Land
Property Plant And Equipment [Line Items]
Total property and equipment	$ 24,562	$ 25,781

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Rigs and Spare Rig Components That Would No Longer Be Marketed
Property Plant And Equipment [Line Items]
Impairment charge of drilling equipment	$ 0	$ 0

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Line Items]
Goodwill	$ 0			$ 0
Goodwill impairment charge	0	$ 0		0	$ 395,060,000
Amortization expense on intangible assets	$ 3,100,000	$ 5,300,000		$ 9,400,000	$ 15,900,000
Contract Drilling
Goodwill And Intangible Assets Disclosure [Line Items]
Goodwill impairment charge			$ 395,000,000

Gross Carrying Amount and Accum

Gross Carrying Amount and Accumulated Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 58,823	$ 84,678
Accumulated Amortization	(37,771)	(54,591)
Net Carrying Amount	21,052	30,087
Customer Relationships
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,800	28,000
Accumulated Amortization	(750)	(26,757)
Net Carrying Amount	1,050	1,243
Developed Technology
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	55,772	55,772
Accumulated Amortization	(36,613)	(27,515)
Net Carrying Amount	19,159	28,257
Internal Use Software
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,251	906
Accumulated Amortization	(408)	(319)
Net Carrying Amount	$ 843	$ 587

Summary of Accrued Liabilities

Summary of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Salaries, wages, payroll taxes and benefits	$ 38,046	$ 37,627
Workers' compensation liability	62,428	70,847
Property, sales, use and other taxes	19,572	10,666
Insurance, other than workers' compensation	7,686	8,462
Accrued interest payable	10,101	11,325
Accrued restructuring expenses	7,884	14,310
Other	21,411	21,767
Accrued liabilities	$ 167,128	$ 175,004

Summary of Long Term Debt (Deta

Summary of Long Term Debt (Detail) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt		$ 908,755	$ 908,755
Less deferred financing costs and discounts		(6,651)	(7,271)
Total		902,104	901,484
Term Loan Agreement
Debt Instrument [Line Items]
Long-term debt	[1]	50,000	50,000
3.95% Senior Notes
Debt Instrument [Line Items]
Long-term debt		509,505	509,505
5.15% Senior Notes
Debt Instrument [Line Items]
Long-term debt		$ 349,250	$ 349,250
[1]	The borrowings outstanding under the Term Loan Agreement maturing in June 2022 are classified as long-term because we have the ability and intent to repay these obligations utilizing our revolving credit facility. Our revolving credit facility matures in two increments in 2024 and 2025.

Summary of Long Term Debt (Pare

Summary of Long Term Debt (Parenthetical ) (Detail)	9 Months Ended
	Sep. 30, 2021
3.95% Senior Notes
Debt Instrument [Line Items]
Debt interest rate	3.95%
5.15% Senior Notes
Debt Instrument [Line Items]
Debt interest rate	5.15%
Term Loan Agreement
Debt Instrument [Line Items]
Maturity date	2022-06
Term Loan Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility description	Our revolving credit facility matures in two increments in 2024 and 2025.

Long-Term Debt - Term Loan Agre

Long-Term Debt - Term Loan Agreement - Additional Information (Detail) - Term Loan Agreement - USD ($)	Dec. 24, 2020	Dec. 16, 2019	Aug. 22, 2019	Sep. 30, 2021
Debt Instrument [Line Items]
Credit agreement date				Aug. 22, 2019
Credit facility, maximum borrowing capacity			$ 150,000,000
Debt maturity date			Jun. 10, 2022
Maturity date				2022-06
Percentage of net cash proceeds from issuance of new senior indebtedness				100.00%
Minimum
Debt Instrument [Line Items]
Debt service coverage ratio				150.00%
Maximum
Debt Instrument [Line Items]
Debt to capitalization ratio, percentage the Company must not exceed at any time				50.00%
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility description				Our revolving credit facility matures in two increments in 2024 and 2025.
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.375%
London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.00%
London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.375%
Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.375%
Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.00%
Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.375%
Subject To Customary Conditions
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 225,000,000
Credit facility, additional borrowing capacity			$ 75,000,000
Repayments of borrowings	$ 50,000,000	$ 50,000,000
Term Loan, amount outstanding				$ 50,000,000
Subject To Customary Conditions | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
LIBOR-based interest rate				1.46%

Long-Term Debt - Credit Facilit

Long-Term Debt - Credit Facilities - Additional Information (Detail)	Mar. 27, 2020USD ($)	Mar. 27, 2018USD ($)Option	Sep. 30, 2021USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding			$ 63,700,000
Letter of Credit
Debt Instrument [Line Items]
Line of credit, borrowings outstanding			0
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, borrowings outstanding			0
Line of credit, available borrowing capacity			$ 600,000,000
Credit Agreement
Debt Instrument [Line Items]
Credit agreement date			Mar. 27, 2018
Credit agreement, financial covenant description			our total debt to capitalization ratio, expressed as a percentage, not exceed 50%. The Credit Agreement generally defines the total debt to capitalization ratio as the ratio of (a) total borrowed money indebtedness to (b) the sum of such indebtedness plus consolidated net worth, with consolidated net worth determined as of the end of the most recently ended fiscal quarter.
Credit Agreement | Minimum
Debt Instrument [Line Items]
Commitment fee rate payable to lenders based on credit rating			0.10%
Debt service coverage ratio			1.50%
Credit Agreement | Maximum
Debt Instrument [Line Items]
Commitment fee rate payable to lenders based on credit rating			0.30%
Debt to capitalization ratio, percentage the Company must not exceed at any time			50.00%
Credit Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.75%
Credit Agreement | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.00%
Credit Agreement | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.00%
Credit Agreement | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.75%
Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.00%
Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.00%
Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 550,000,000	$ 600,000,000
Original maturity date		Mar. 27, 2023
Extend maturity date range, Start	Mar. 27, 2024
Extend maturity date range, End	Mar. 27, 2025
Debt instrument, number of optional extensions to initial maturity date | Option		1
Optional extension period of initial maturity date		1 year
Letters of credit outstanding			$ 100,000
Credit Agreement | Revolving Credit Facility | Subject To Customary Conditions
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 900,000,000
Credit facility, additional borrowing capacity		300,000,000
Credit Agreement | Revolving Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		150,000,000
Credit Agreement | Revolving Credit Facility | Swing Line Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 20,000,000
Reimbursement Agreement
Debt Instrument [Line Items]
Letters of credit outstanding			$ 63,600,000
Reimbursement Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.25%

Long-Term Debt - Senior Notes -

Long-Term Debt - Senior Notes - Additional Information (Detail) - USD ($) $ in Millions	Nov. 15, 2019	Jan. 19, 2018	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Interest expense related to amortization of debt issuance costs			$ 0.3	$ 0.3	$ 0.8	$ 0.8
Revolving Credit Facility
Debt Instrument [Line Items]
Repayment of borrowings		$ 239
3.95% Senior Notes Due 2028
Debt Instrument [Line Items]
Long-term debt, aggregate principal amount		525
Proceeds from borrowings, before offering expenses		$ 521
Debt payment term					We pay interest on the 2028 Notes on February 1 and August 1 of each year.
Debt maturity date		Feb. 1, 2028
Debt interest rate		3.95%	3.95%		3.95%		3.95%
Debt instrument redemption description					At our option, we may redeem the Senior Notes in whole or in part, at any time or from time to time at a redemption price equal to 100% of the principal amount of such Senior Notes to be redeemed, plus accrued and unpaid interest, if any, on those Senior Notes to the redemption date, plus a “make-whole” premium. Additionally, commencing on November 1, 2027, in the case of the 2028 Notes, and on August 15, 2029, in the case of the 2029 Notes, at our option, we may redeem the respective Senior Notes in whole or in part, at a redemption price equal to 100% of the principal amount of the Senior Notes to be redeemed, plus accrued and unpaid interest, if any, on those Senior Notes to the redemption date.
Debt instrument, redemption percentage		100.00%
Debt instrument redemption upon the occurrence of change of control, description					Upon the occurrence of a change of control triggering event, as defined in the indentures, each holder of the Senior Notes may require us to purchase all or a portion of such holder’s Senior Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date.
Redemption price percentage of principal amount of debt instrument on change of control		101.00%
5.15% Senior Notes Due 2029
Debt Instrument [Line Items]
Long-term debt, aggregate principal amount	$ 350
Proceeds from borrowings, before offering expenses	$ 347
Debt payment term					We pay interest on the 2029 Notes on May 15 and November 15 of each year.
Debt maturity date	Nov. 15, 2029
Debt interest rate	5.15%		5.15%		5.15%		5.15%
Debt instrument redemption description					At our option, we may redeem the Senior Notes in whole or in part, at any time or from time to time at a redemption price equal to 100% of the principal amount of such Senior Notes to be redeemed, plus accrued and unpaid interest, if any, on those Senior Notes to the redemption date, plus a “make-whole” premium. Additionally, commencing on November 1, 2027, in the case of the 2028 Notes, and on August 15, 2029, in the case of the 2029 Notes, at our option, we may redeem the respective Senior Notes in whole or in part, at a redemption price equal to 100% of the principal amount of the Senior Notes to be redeemed, plus accrued and unpaid interest, if any, on those Senior Notes to the redemption date.
Debt instrument, redemption percentage		100.00%
Term Loan Agreement
Debt Instrument [Line Items]
Repayment of borrowings	$ 50
2028 Notes
Debt Instrument [Line Items]
Debt instrument, repurchase amount							$ 15.5
2029 Notes
Debt Instrument [Line Items]
Debt instrument, repurchase amount							$ 0.8

Schedule of Principal Repayment

Schedule of Principal Repayment Requirements of Long-Term Debt (Detail) $ in Thousands	Sep. 30, 2021USD ($)
Debt Disclosure [Abstract]
2022	$ 50,000
Thereafter	858,755
Total	$ 908,755

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Line Items]
Letters of credit, collateral for retrospective premiums and retained losses	$ 63,700,000
Commitments to purchase major equipment	$ 58,300,000
Agreement expire description	The agreements expire in years 2021 and 2022
Purchase obligations for remainder of 2021	$ 7,300,000
Purchase obligations for 2022	1,700,000
Current obligation	9,000,000
Letter of Credit
Commitments and Contingencies Disclosure [Line Items]
Amount drawn under letters of credit	$ 0

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Oct. 27, 2021	Apr. 22, 2020	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Jul. 24, 2019	Sep. 06, 2013
Class Of Stock [Line Items]
Preferred stock, par value			$ 0.01						$ 0.01
Expire period of Right agreement		Apr. 21, 2021
Dividend per share, declared			$ 0.02	$ 0.02	$ 0.02	$ 0.02	$ 0.02	$ 0.04
2013 program
Class Of Stock [Line Items]
Increase of the authorization under the stock buyback program										$ 250,000,000
Remaining amount approved for repurchases under stock buyback program			$ 130,000,000
2013 program | Maximum
Class Of Stock [Line Items]
Amount approved for repurchases under stock buyback program											$ 200,000,000
Subsequent Event | Dividend Declared
Class Of Stock [Line Items]
Dividend declaration date	Oct. 27, 2021
Dividend per share, declared	$ 0.02
Dividend payment date	Dec. 16, 2021
Dividend record date	Dec. 2, 2021
Series A Junior Participating Preferred Stock
Class Of Stock [Line Items]
Preferred stock, par value		$ 0.01
Preferred stock, exercise price per right		$ 17

Treasury Stock Acquisition (Det

Treasury Stock Acquisition (Detail) - USD ($) $ in Thousands	3 Months Ended					9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021
Schedule of Treasury Stock [Line Items]
Treasury shares at beginning of period						83,402,322
Treasury shares at end of period	83,836,546					83,836,546
Treasury shares at beginning of period						$ 1,366,313
Acquisitions pursuant to long-term incentive plan, cost	$ 52	$ 3,522	$ 194	$ 910	$ 20,025
Treasury shares at end of period	$ 1,369,887					$ 1,369,887
Long Term Incentive Plan
Schedule of Treasury Stock [Line Items]
Acquisitions pursuant to long-term incentive plan, shares						434,224
Acquisitions pursuant to long-term incentive plan, cost						$ 3,574

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended		3 Months Ended	9 Months Ended
	Apr. 30, 2021	May 31, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of stock option granted				0	0
Performance Units Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period				3 years
Unrecognized compensation cost			$ 8.1	$ 8.1
Weighted-average remaining vesting period				1 year 8 months 12 days
Performance Units Awards | 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued	621,400
Performance Units Awards | Condition One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award description				The performance goals for the Performance Units are tied to our total shareholder return for the performance period as compared to total shareholder return for a peer group determined by the Compensation Committee. For the performance units granted in April 2021, the peer group also includes three market indices. These goals are considered to be market conditions under the relevant accounting standards and the market conditions were factored into the determination of the fair value of the respective Performance Units. Under the Performance Units granted beginning in April 2019, the recipients will receive the target number of shares if our total shareholder return during the performance period, when compared to the peer group, is at the 55th percentile. If our total shareholder return during the performance period, when compared to the peer group, is at the 75th percentile or higher, then the recipients will receive two times the target number of shares. If our total shareholder return during the performance period, when compared to the peer group, is at the 25th percentile, then the recipients will only receive one-half of the target number of shares. If our total shareholder return during the performance period, when compared to the peer group, is between the 25th and 55th percentile, or the 55th and 75th percentile, then the shares to be received by the recipients will be determined using linear interpolation for levels of achievement between these points. Under the Performance Units granted beginning in April 2019, the payout shall not exceed the target number of shares if our total shareholder return is negative or zero. Additionally, the Performance Units granted in April 2020 will not pay out if our total shareholder return is not equal to or greater than the total stockholder return of the S&P 500 Index for the Performance Period.
Phantom Share Units (PSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award description				Mr. Hendricks may earn from 0% to 200% of a target award of 298,500 phantom units based on our achievement of the same performance conditions over the same Performance Period that applies to the Performance Units granted in April 2020, as described above. Earned Phantom Units, if any, will be settled in 2023, following completion of the three-year Performance Period, in a cash payment equal to the number of earned phantom units multiplied by our average trading price per share over the twenty consecutive trading days ending March 31, 2023.
Performance completion year		2023
Performance Period		3 years
Grant date fair value		$ 1.2
Expense recognized			0.2	$ 1.3	$ 0.2
Phantom Share Units (PSUs) | Chief Executive Officer and President
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units awardable based on performance conditions		298,500
Phantom Share Units (PSUs) | Chief Executive Officer and President | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target award vesting rights		0.00%
Phantom Share Units (PSUs) | Chief Executive Officer and President | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target award vesting rights		200.00%
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost			$ 20.9	$ 20.9
Weighted-average remaining vesting period				1 year 10 months 2 days
Two Thousand Twenty One Long Term Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares authorized for grant			13,500,000	13,500,000
Amended and Restated Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares authorized for grant			4,900,000	4,900,000

Stock Option Activity (Detail)

Stock Option Activity (Detail)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Shares
Outstanding at beginning of period | shares	4,026,150
Expired | shares	(276,000)
Outstanding at end of period | shares	3,750,150
Exercisable at end of year | shares	3,750,150
Weighted Average Exercise Price Per Share
Outstanding at beginning of period | $ / shares	$ 21.63
Expired | $ / shares	31.20
Outstanding at end of period | $ / shares	20.92
Exercisable at end of year | $ / shares	$ 20.92

Restricted Stock Unit Activity

Restricted Stock Unit Activity (Detail)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Time Based Restricted Stock Units
Shares
Outstanding at beginning of period	2,741,548
Granted	1,797,875
Vested	(1,235,616)
Forfeited	(109,399)
Outstanding at end of period	3,194,408
Performance Based Restricted Stock Units
Shares
Outstanding at beginning of period	359,315
Outstanding at end of period	359,315
Restricted Stock Units (RSUs)
Weighted Average Grant Date Fair Value Per Share
Outstanding at beginning of period | $ / shares	$ 9.52
Granted | $ / shares	8.32
Vested | $ / shares	10.44
Forfeited | $ / shares	10.88
Outstanding at end of period | $ / shares	$ 8.55

Performance Units (Detail)

Performance Units (Detail)	9 Months Ended
	Sep. 30, 2021shares
2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target number of shares	843,000
2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target number of shares	500,500
2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target number of shares	489,800
2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target number of shares	310,700
2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target number of shares	186,198

Fair Value of Performance Units

Fair Value of Performance Units (Detail) - Performance Units Awards	9 Months Ended
	Sep. 30, 2021USD ($)
2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value at date of grant	$ 7,225,000
2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value at date of grant	826,000
2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value at date of grant	9,958,000
2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value at date of grant	8,004,000
2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value at date of grant	$ 5,780,000

Compensation Expense Associated

Compensation Expense Associated with Performance Units (Detail) - Performance Units Awards - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense associated with Performance Units	$ 602		$ 1,204
2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense associated with Performance Units	69	$ 69	206	$ 138
2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense associated with Performance Units	$ 830	830	2,489	2,489
2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense associated with Performance Units		$ 667	$ 667	2,001
2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense associated with Performance Units				$ 642

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	17.50%	10.40%	15.70%	12.80%

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Net Loss per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
BASIC EPS:
Net loss attributed to common stockholders	$ (82,998)	$ (112,111)	$ (292,720)	$ (697,165)
Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock	188,965,000	187,280,000	188,355,000	188,193,000
Basic net loss per common share	$ (0.44)	$ (0.60)	$ (1.55)	$ (3.70)
DILUTED EPS:
Net loss attributed to common stockholders	$ (82,998)	$ (112,111)	$ (292,720)	$ (697,165)
Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock	188,965,000	187,280,000	188,355,000	188,193,000
Add dilutive effect of potential common shares	0	0	0	0
Weighted average number of diluted common shares outstanding	188,965,000	187,280,000	188,355,000	188,193,000
Diluted net loss per common share	$ (0.44)	$ (0.60)	$ (1.55)	$ (3.70)
Potentially dilutive securities excluded as anti-dilutive	9,334,000	8,490,000	9,334,000	8,490,000

Business Segments - Additional

Business Segments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2021Segment
Segment Reporting [Abstract]
Number of reportable business segments	3

Business Segments - Revenues (D

Business Segments - Revenues (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		$ 357,885	$ 207,141	$ 890,588	$ 903,448
Contract Drilling
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		157,925	115,054	433,158	553,552
Pressure Pumping
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		152,634	71,973	340,464	256,613
Directional Drilling
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		31,728	10,271	76,267	56,498
Operating Segments | Contract Drilling
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		158,154	115,105	434,080	554,421
Operating Segments | Pressure Pumping
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		152,634	71,973	340,464	256,613
Operating Segments | Directional Drilling
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		31,728	10,271	76,267	56,498
Other Operations
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues	[1]	20,744	11,756	53,561	46,061
Intersegment Elimination | Contract Drilling
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues	[2]	(229)	(51)	(922)	(869)
Intersegment Elimination | Other Operations
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues	[2]	$ (5,146)	$ (1,913)	$ (12,862)	$ (9,276)
[1]	Other operations includes our oilfi eld rentals business, drilling equipment service business, the electrical controls and automation business and the oil and natural gas working interests.
[2]	I ntercompany revenues consist of revenues from contract drilling for services provided to our other operations, and revenues from other operations for services provided to contract drilling, pressure pumping and within other operations . These revenues are generally based on estimated external selling prices and are eliminated during consolidation.

Business Segments - Income (Los

Business Segments - Income (Loss) Before Income Taxes (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)	$ (90,009,000)	$ (114,566,000)	$ (316,946,000)	$ (768,060,000)
Credit loss expense	0	0	0	(5,606,000)
Interest income	37,000	238,000	196,000	1,229,000
Interest expense	(10,683,000)	(11,288,000)	(31,396,000)	(33,496,000)
Other	14,000	512,000	840,000	682,000
Loss before income taxes	(100,641,000)	(125,104,000)	(347,306,000)	(799,645,000)
Corporate
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)	(18,489,000)	(20,163,000)	(57,040,000)	(75,145,000)
Operating Segments | Contract Drilling
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)	(51,830,000)	(47,214,000)	(158,680,000)	(481,974,000)
Operating Segments | Pressure Pumping
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)	(13,774,000)	(30,856,000)	(77,434,000)	(134,896,000)
Operating Segments | Directional Drilling
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)	(4,581,000)	(9,912,000)	(14,614,000)	(34,892,000)
Other Operations
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)	$ (1,335,000)	$ (6,421,000)	$ (9,178,000)	$ (35,547,000)

Business Segments - Depreciatio

Business Segments - Depreciation, Depletion, Amortization and Impairment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Depreciation, depletion, amortization and impairment	$ 141,065	$ 157,319	$ 437,984	$ 517,201
Corporate
Segment Reporting Information [Line Items]
Depreciation, depletion, amortization and impairment	1,429	1,488	4,423	4,987
Operating Segments | Contract Drilling
Segment Reporting Information [Line Items]
Depreciation, amortization and impairment	97,160	102,275	297,426	328,843
Operating Segments | Pressure Pumping
Segment Reporting Information [Line Items]
Depreciation, amortization and impairment	29,838	37,104	98,963	118,586
Operating Segments | Directional Drilling
Segment Reporting Information [Line Items]
Depreciation and amortization	6,772	9,600	19,863	29,698
Other Operations
Segment Reporting Information [Line Items]
Depreciation, depletion, amortization and impairment	$ 5,866	$ 6,852	$ 17,309	$ 35,087

Business Segments - Capital Exp

Business Segments - Capital Expenditures (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Capital expenditures	$ 34,264	$ 13,442	$ 90,837	$ 135,043
Corporate
Segment Reporting Information [Line Items]
Capital expenditures	434	73	1,053	1,377
Operating Segments | Contract Drilling
Segment Reporting Information [Line Items]
Capital expenditures	21,239	9,502	56,708	101,448
Operating Segments | Pressure Pumping
Segment Reporting Information [Line Items]
Capital expenditures	6,468	1,653	19,457	17,880
Operating Segments | Directional Drilling
Segment Reporting Information [Line Items]
Capital expenditures	3,290	510	4,613	4,562
Other Operations
Segment Reporting Information [Line Items]
Capital expenditures	$ 2,833	$ 1,704	$ 9,006	$ 9,776

Business Segments - Identifiabl

Business Segments - Identifiable Assets (Detail) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		$ 3,017,463	$ 3,299,069
Corporate
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	[1]	252,510	300,566
Operating Segments | Contract Drilling
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		2,099,859	2,315,318
Operating Segments | Pressure Pumping
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		474,013	486,702
Operating Segments | Directional Drilling
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		105,368	107,807
Other Operations
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		$ 85,713	$ 88,676
[1]	Corporate assets primarily include cash on hand and certain property and equipment.

Estimated Fair Value of Outstan

Estimated Fair Value of Outstanding Debt Balances (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	$ 908,755	$ 908,755
Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	923,810	840,579
Term Loan Agreement | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	50,000	50,000
Term Loan Agreement | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	50,000	50,000
3.95% Senior Notes Due 2028 | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	509,505	509,505
3.95% Senior Notes Due 2028 | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	513,367	471,019
5.15% Senior Notes Due 2029 | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	349,250	349,250
5.15% Senior Notes Due 2029 | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	$ 360,443	$ 319,560

Fair Values of Financial Inst_3

Fair Values of Financial Instruments - Additional Information (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Nov. 15, 2019	Jan. 19, 2018
3.95% Senior Notes Due 2028
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt interest rate	3.95%	3.95%		3.95%
Current market rates used in measuring fair value	3.81%	5.24%
5.15% Senior Notes Due 2029
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt interest rate	5.15%	5.15%	5.15%
Current market rates used in measuring fair value	4.67%	6.42%

Restructuring Expenses - Additi

Restructuring Expenses - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost And Reserve [Line Items]
Restructuring costs			$ 38,300		$ 38,338
Contract Termination
Restructuring Cost And Reserve [Line Items]
Restructuring and related cost incurred				5,300
Restructuring of contractual future payments	$ 14,000			$ 14,000

Restructuring Expenses - Restru

Restructuring Expenses - Restructuring Expenses by Reportable Segment (Detail) - Operating Segments $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Restructuring Cost And Reserve [Line Items]
Severance costs	$ 6,500
Contract termination costs	20,373
Other exit costs	1,544
ROU asset abandonments	9,921
Total	38,338
Contract Drilling
Restructuring Cost And Reserve [Line Items]
Severance costs	1,821
Other exit costs	523
ROU asset abandonments	86
Total	2,430
Pressure Pumping
Restructuring Cost And Reserve [Line Items]
Severance costs	3,460
Contract termination costs	20,373
Other exit costs	194
ROU asset abandonments	7,304
Total	31,331
Directional Drilling
Restructuring Cost And Reserve [Line Items]
Severance costs	503
Other exit costs	827
ROU asset abandonments	1,845
Total	3,175
Other Operations
Restructuring Cost And Reserve [Line Items]
Severance costs	501
Total	501
Corporate
Restructuring Cost And Reserve [Line Items]
Severance costs	215
ROU asset abandonments	686
Total	$ 901

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail) - Subsequent Event - Pioneer Energy Services Corp. shares in Millions, $ in Millions	Oct. 01, 2021USD ($)shares
Subsequent Event [Line Items]
Aggregate consideration of common stock | shares	26.3
Payments To Acquire Businesses Gross | $	$ 30