Patterson-UTI Energy (PTEN) 10-Q 29 Apr 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 25, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	PTEN
Entity Registrant Name	PATTERSON UTI ENERGY INC
Entity Central Index Key	0000889900
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		208,542,994

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 248,901	$ 245,029
Accounts receivable, net of allowance for doubtful accounts of $2,307 and $2,312 at March 31, 2019 and December 31, 2018, respectively	547,993	558,817
Federal and state income taxes receivable	4,083	4,110
Inventory	65,871	65,579
Other	60,883	76,662
Total current assets	927,731	950,197
Property and equipment, net	3,898,518	4,002,549
Right of use asset	28,405
Goodwill and intangible assets	476,078	477,640
Deposits on equipment purchases	10,505	12,040
Other	26,515	27,440
Total assets	5,367,752	5,469,866
Current liabilities:
Accounts payable	260,378	288,962
Federal and state income taxes payable	1,367	1,408
Accrued expenses	240,196	235,946
Lease liability	9,217
Total current liabilities	511,158	526,316
Long-term lease liability	23,903
Long-term debt, net of debt discount and issuance costs of $5,574 and $5,795 at March 31, 2019 and December 31, 2018, respectively	1,119,426	1,119,205
Deferred tax liabilities, net	299,557	306,161
Other	10,339	12,761
Total liabilities	1,964,383	1,964,443
Commitments and contingencies (see Note 10)
Stockholders' equity:
Preferred stock, par value $.01; authorized 1,000,000 shares, no shares issued
Common stock, par value $.01; authorized 400,000,000 shares with 267,353,108 and 267,315,526 issued and 208,243,640 and 213,614,430 outstanding at March 31, 2019 and December 31, 2018, respectively	2,673	2,673
Additional paid-in capital	2,836,492	2,827,154
Retained earnings	1,716,334	1,753,557
Accumulated other comprehensive income	3,431	2,487
Treasury stock, at cost, 59,109,468 and 53,701,096 shares at March 31, 2019 and December 31, 2018, respectively	(1,155,561)	(1,080,448)
Total stockholders' equity	3,403,369	3,505,423
Total liabilities and stockholders' equity	$ 5,367,752	$ 5,469,866

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 2,307	$ 2,312
Long-term debt, debt discount and issuance costs	$ 5,574	$ 5,795
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	267,353,108	267,315,526
Common stock, outstanding	208,243,640	213,614,430
Treasury stock, shares	59,109,468	53,701,096

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Operating revenues:
Total operating revenues		$ 704,171	$ 809,164
Operating costs and expenses:
Depreciation, depletion, amortization and impairment		214,410	209,892
Selling, general and administrative		32,555	32,817
Merger and integration expenses			1,991
Other operating income, net	[1]	(8,736)	(2,421)
Total operating costs and expenses		727,554	831,266
Operating loss		(23,383)	(22,102)
Other income (expense):
Interest income		1,032	1,423
Interest expense, net of amount capitalized		(12,984)	(13,625)
Other		117	169
Total other expense		(11,835)	(12,033)
Loss before income taxes		(35,218)	(34,135)
Income tax expense (benefit)		(6,604)	282
Net loss		$ (28,614)	$ (34,417)
Net loss per common share:
Basic		$ (0.14)	$ (0.16)
Diluted		$ (0.14)	$ (0.16)
Weighted average number of common shares outstanding:
Basic		211,868	220,783
Diluted		211,868	220,783
Cash dividends per common share		$ 0.04	$ 0.02
Contract Drilling
Operating revenues:
Total operating revenues		$ 372,392	$ 327,803
Operating costs and expenses:
Operating costs and expenses		219,202	212,583
Pressure Pumping
Operating revenues:
Total operating revenues		247,601	406,784
Operating costs and expenses:
Operating costs and expenses		202,748	320,970
Directional Drilling
Operating revenues:
Total operating revenues		52,959	48,616
Operating costs and expenses:
Operating costs and expenses		45,602	37,689
Other
Operating revenues:
Total operating revenues		31,219	25,961
Operating costs and expenses:
Operating costs and expenses		$ 21,773	$ 17,745
[1]	Other operating income, net includes net gains associated with the disposal of assets related to corporate strategy decisions of the executive management group. Accordingly, the related gains have been excluded from the operating results of specific segments. This caption also includes certain legal-related expenses and settlements, net of insurance reimbursements.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (28,614)	$ (34,417)
Other comprehensive income (loss), net of taxes of $0 for all periods:
Foreign currency translation adjustment	944	(1,984)
Total comprehensive loss	$ (27,670)	$ (36,401)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Other comprehensive income (loss), taxes	$ 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, 2017	$ 3,982,493	$ 2,662	$ 2,785,823	$ 2,105,897	$ 6,822	$ (918,711)
Beginning Balance (in shares) at Dec. 31, 2017		266,259,000
Net loss	(34,417)			(34,417)
Foreign currency translation adjustment	(1,984)				(1,984)
Exercise of stock options	485	$ 1	484
Exercise of stock options (in shares)		40,000
Stock-based compensation	9,365		9,365
Payment of cash dividends	(4,443)			(4,443)
Dividend equivalents	(30)			(30)
Purchase of treasury stock	(16,928)					(16,928)
Ending Balance at Mar. 31, 2018	3,934,541	$ 2,663	2,795,672	2,067,007	4,838	(935,639)
Ending Balance (in shares) at Mar. 31, 2018		266,299,000
Beginning Balance at Dec. 31, 2017	3,982,493	$ 2,662	2,785,823	2,105,897	6,822	(918,711)
Beginning Balance (in shares) at Dec. 31, 2017		266,259,000
Payment of cash dividends	(30,589)
Ending Balance at Dec. 31, 2018	$ 3,505,423	$ 2,673	2,827,154	1,753,557	2,487	(1,080,448)
Ending Balance (in shares) at Dec. 31, 2018	267,315,526	267,316,000
Net loss	$ (28,614)			(28,614)
Foreign currency translation adjustment	$ 944				944
Exercise of stock options (in shares)	0
Vesting of restricted stock units (in shares)		38,000
Forfeitures of restricted stock (in shares)		(1,000)
Stock-based compensation	$ 9,338		9,338
Payment of cash dividends	(8,499)			(8,499)
Dividend equivalents	(110)			(110)
Purchase of treasury stock	(75,113)					(75,113)
Ending Balance at Mar. 31, 2019	$ 3,403,369	$ 2,673	$ 2,836,492	$ 1,716,334	$ 3,431	$ (1,155,561)
Ending Balance (in shares) at Mar. 31, 2019	267,353,108	267,353,000

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (28,614)	$ (34,417)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion, amortization and impairment	214,410	209,892
Dry holes and abandonments	21	96
Deferred income tax expense (benefit)	(6,604)	282
Stock-based compensation expense	9,338	9,365
Net gain on asset disposals	(6,545)	(10,410)
Amortization of debt discount and issuance costs	221	170
Changes in operating assets and liabilities:
Accounts receivable	10,929	(16,468)
Income taxes receivable/payable	(14)	19
Inventory and other assets	6,592	2,709
Accounts payable	(17,858)	(22,514)
Accrued expenses	2,871	11,174
Other liabilities	(915)	67
Net cash provided by operating activities	183,832	149,965
Cash flows from investing activities:
Acquisitions, net of cash acquired	(13)	(3,800)
Purchases of property and equipment	(118,341)	(122,921)
Proceeds from disposal of assets and insurance claims	22,054	10,294
Net cash used in investing activities	(96,300)	(116,427)
Cash flows from financing activities:
Purchases of treasury stock	(75,113)	(16,928)
Proceeds from exercise of options		485
Dividends paid	(8,499)	(4,443)
Debt issuance costs		(4,198)
Proceeds from long-term debt		521,194
Proceeds from borrowings under revolving credit facility		79,000
Repayment of borrowings under revolving credit facility		(347,000)
Net cash provided by financing activities	(83,612)	228,110
Effect of foreign exchange rate changes on cash	(48)	(225)
Net increase in cash and cash equivalents	3,872	261,423
Cash and cash equivalents at beginning of period	245,029	42,828
Cash and cash equivalents at end of period	248,901	304,251
Net cash (paid) received during the period for:
Interest, net of capitalized interest of $257 in 2019 and $340 in 2018	(10,689)	(2,206)
Income taxes	(15)	21
Non-cash investing and financing activities:
Receivable from property and equipment insurance		15,000
Net increase (decrease) in payables for purchases of property and equipment	(10,764)	62,488
Net (increase) decrease in deposits on equipment purchases	$ 1,535	$ (2,294)

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement Of Cash Flows [Abstract]
Interest expense, capitalized interest	$ 257	$ 340

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [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 the “Company”). All significant intercompany accounts and transactions have been eliminated. Except for wholly-owned subsidiaries, the Company has no controlling financial interests in any other entity which would require consolidation. As used in these notes, “the Company” refers 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 management of the Company 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 the Company believes 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, 2018, as presented herein, was derived from the audited consolidated balance sheet of the Company, 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 the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018. The results of operations for the three months ended March 31, 2019 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 the Company’s operations except for its Canadian operations, which use the Canadian dollar as its functional currency. The effects of exchange rate changes are reflected in accumulated other comprehensive income, which is a separate component of stockholders’ equity. Recently Issued Accounting Standards – In May 2014, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update to provide guidance on the recognition of revenue from customers. Under this guidance, an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. This guidance also requires more detailed disclosures to enable users of the financial statements to understand the nature, amount, timing and uncertainty, if any, of revenue and cash flows arising from contracts with customers. The requirements in this update are effective during interim and annual periods beginning after December 15, 2017. The Company adopted this new revenue guidance effective January 1, 2018, utilizing the modified retrospective method, and expanded its consolidated financial statement disclosures in order to comply with the update (See Note 3). The adoption of this update did not have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued an accounting standards update to provide guidance for the accounting for leasing transactions. The standard requires the lessee to recognize a lease liability along with a right-of-use asset for all leases with a term longer than one year. A lessee is permitted to make an accounting policy election by class of underlying asset to not recognize the lease liability and related right-of-use asset for leases with a term of one year or less. The provisions of this standard also apply to situations where the Company is the lessor. The requirements in this update are effective during interim and annual periods beginning after December 15, 2018. The Company adopted this new leasing guidance effective January 1, 2019 and expanded its consolidated financial statement disclosures in order to comply with the update (See Note 4). In August 2016, the FASB issued an accounting standards update to clarify the presentation of cash receipts and payments in specific situations on the statement of cash flows. The requirements in this update are effective during interim and annual periods in fiscal years beginning after December 15, 2017. The adoption of this update on January 1, 2018 did not have a material impact on the Company’s consolidated financial statements. In May 2017, the FASB issued an accounting standards update that provided clarity on which changes to the terms or conditions of share-based payment awards require an entity to apply modification accounting provisions. The requirements in this update are effective during interim and annual periods in fiscal years beginning after December 15, 2017. The adoption of this update on January 1, 2018 did not have a material impact on the Company’s consolidated financial statements. In March 2018, the FASB issued an accounting standards update to update the income tax accounting in U.S. GAAP to reflect the SEC interpretive guidance released on December 22, 2017, when significant U.S. tax law changes were enacted with the enactment of “H.R.1,” also known as the “Tax Cuts and Jobs Act” (“U.S. Tax Reform”). The adoption of this update in March 2018 did not have a material impact on the Company’s consolidated financial statements, as the Company was already following the SEC guidance. See Note 13 for additional information. 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 amendments in the update are effective for public business entities for fiscal years beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the impact this new guidance will have on its consolidated financial statements.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Acquisitions	2. Acquisitions Superior QC, LLC (“Superior QC”) On February 20, 2018, the Company acquired the business of Superior QC, including its assets and intellectual property. Superior QC is a provider of software and services used to improve the statistical accuracy of horizontal wellbore placement. Superior QC’s measurement while drilling (MWD) survey fault detection, isolation and recovery (FDIR) service is a data analytics technology to analyze MWD survey data in real-time and more accurately identify the position of a well. This acquisition was not material to the Company’s consolidated financial statements. Current Power Solutions, Inc. (“Current Power”) On October 25, 2018, the Company acquired Current Power. Current Power is a provider of electrical controls and automation to the energy, marine and mining industries. This acquisition was not material to the Company’s consolidated financial statements.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2019
Revenue From Contract With Customer [Abstract]
Revenues	3. Revenues ASC Topic 606 Revenue from Contracts with Customers The Company’s contracts with customers include both long-term and short-term contracts. Services that primarily generate revenue earned for the Company include the operating business segments of contract drilling, pressure pumping and directional drilling that comprise the Company’s reportable segments. The Company also derives revenues from its other operations which include the Company’s operating business segments of oilfield rentals, oilfield technology, electrical controls and automation, and oil and natural gas working interests. For more information on the Company’s 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, the Company is 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 the Company expects to be entitled in exchange for transferring promised goods or services to a customer, based on terms of the Company’s contracts with its 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 the Company 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, the Company recognizes 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, the Company will evaluate its 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. The Company is a working interest owner of oil and natural gas properties located in Texas and New Mexico. The ownership terms are outlined in joint operating agreements for each well between the operator of the wells and the various interest owners, including the Company, who are considered non-operators of the well. 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 the Company’s customers are recorded as revenue when incurred. The related costs are recorded as operating expenses when incurred. Accounts Receivable and Contract Liabilities Accounts receivable is the Company’s right to consideration once it becomes unconditional. Payment terms range from 30 to 60 days. Accounts receivable balances were $544 million and $554 million as of March 31, 2019 and December 31, 2018, respectively. These balances do not include amounts related to the Company’s 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. The Company does not have any significant contract asset balances, and as such, contract balances are not presented at the net amount at a contract level. 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 three months ended March 31, 2019 and 2018, approximately $402,000 and $405,000, respectively, was amortized and recorded in drilling revenue. Contract liability balances for customer prepayments were $6.8 million and $3.0 million as of March 31, 2019 and December 31, 2018, respectively. Contract liability balances for deferred mobilization payments relating to newly constructed or upgraded rigs were $4.2 million and $4.6 million as of March 31, 2019 and December 31, 2018, respectively. Contract liability balances for customer prepayments are included in “Accounts Payable” and contract liability balances for deferred mobilization payments are included in “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.

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	4. Leases ASC Topic 842 Leases On January 1, 2019, the Company adopted the new lease guidance under Topic 842, Leases explore for those natural resources and rights to use the land in which those natural resources are contained. The Company has entered into operating leases for operating locations, corporate offices and certain operating equipment. These leases have remaining lease terms of 1 month to 9 years as of March 31, 2019. Currently, the Company does not have any finance leases. The Company has elected the short-term lease recognition practical expedient whereby right of use assets and lease liabilities are not recognized for leasing arrangements with an initial term of less than one year. Topic 842 requires that lessees and lessors discount lease payments at the lease commencement date using the rate implicit in the lease, if available, or the lessee’s incremental borrowing rate. The Company uses the implicit rate when readily determinable. If the implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at the commencement date in the determination of the present value of future lease payments. Practical Expedients Adopted with Topic 842 The Company has elected to adopt the following practical expedients upon the transition date to Topic 842 on January 1, 2019: • Transitional practical expedients package: An entity may elect to apply the listed practical expedients as a package to all the leases that commenced before the effective date. The practical expedients are: a) The entity need not reassess whether any expired or existing contracts are or contains leases; b) The entity need not reassess the lease classification for expired or existing contracts; c) The entity need not reassess initial direct costs for any existing leases. • Use of portfolio approach: An entity can apply this guidance to a portfolio of leases with similar characteristics if the entity reasonably expects that the application of the leases model to the portfolio would not differ materially from the application of the leases model to the individual leases in that portfolio. This approach can also be applied to other aspects of the leases guidance for which lessees/lessors need to make judgments and estimates, such as determining the discount rate and determining and reassessing the lease term. • Lease and non-lease components: As a practical expedient, lease and non-lease components may be combined where the revenue recognition pattern is the same and where the lease component, when accounted for separately, would be considered an operating lease. The Company’s contract drilling, pressure pumping and directional drilling contracts contain a lease component related to the underlying equipment utilized, in addition to the service component provided by the Company’s crews and expertise to operate the related equipment. The Company has concluded that the non-lease service of operating its equipment and providing expertise in the services provided to our customers is predominant in the Company’s drilling, pressure pumping and directional drilling contracts. With the election of this practical expedient, the Company will continue to present a single performance obligation for these contracts under the revenue guidance in ASC 606. Lease expense consisted of the following for the three months ended March 31, 2019 (in thousands): Three Months Ended March 31, 2019 Operating lease cost $ 3,039 Short-term lease expense (1) 276 Total lease expense $ 3,315 (1) Short-term lease expense represents expense related to leases with a contract term of one year or less. Supplemental cash flow information related to leases for the three months ended March 31, 2019 is as follows (in thousands): Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,728 Right of use assets obtained in exchange for lease obligations: Operating leases $ - Supplemental balance sheet information related to leases as of March 31, 2019 is as follows: March 31, 2019 Weighted Average Remaining Lease Term: Operating leases 5.0 years Weighted Average Discount Rate: Operating leases 4.4 % Maturities of operating lease liabilities as of March 31, 2019 are as follows (in thousands): Year ending December 31, 2019 (excluding the three months ended March 31, 2019) $ 8,062 2020 9,188 2021 6,661 2022 4,622 2023 2,663 Thereafter 6,552 Total lease payments 37,748 Less imputed interest (4,628 ) Total $ 33,120 Maturities of operating lease liabilities as of December 31, 2018, as previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, are as follows (in thousands): Year ending December 31, 2019 $ 11,408 2020 9,069 2021 6,543 2022 4,625 2023 2,663 Thereafter 6,552 Total $ 40,860

Inventory

Inventory	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventory	5. Inventory Inventory consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Finished goods $ 602 $ 347 Work-in-process 6,088 6,375 Raw materials and supplies 59,181 58,857 Inventory $ 65,871 $ 65,579

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2019
Property Plant And Equipment [Abstract]
Property and Equipment	6. Property and Equipment Property and equipment consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Equipment $ 8,392,658 $ 8,370,933 Oil and natural gas properties 221,782 219,855 Buildings 186,989 186,736 Land 26,898 26,144 Total property and equipment 8,828,327 8,803,668 Less accumulated depreciation, depletion and impairment (4,929,809 ) (4,801,119 ) Property and equipment, net $ 3,898,518 $ 4,002,549 The Company reviews its 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. The Company estimates future cash flows over the life of the respective assets or asset groupings in its assessment of impairment. These estimates of cash flows are based on historical cyclical trends in the industry as well as the Company’s 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. The Company concluded that no triggering events occurred during the three months ended March 31, 2019 with respect to its asset groups based on the Company’s results of operations for the three months ended March 31, 2019, management’s expectations of operating results in future periods and the prevailing commodity prices at the time.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	7. Goodwill and Intangible Assets Goodwill — Goodwill by operating segment as of March 31, 2019 and changes for the three months then ended are as follows (in thousands): Contract Other Drilling Operations Total Balance at beginning of period $ 395,060 15,696 $ 410,756 Changes to goodwill — 2,104 2,104 Balance at end of period $ 395,060 $ 17,800 $ 412,860 The goodwill reflected above has increased $2.1 million from the original Current Power purchase price allocation primarily as a result of a measurement period adjustment related to accrued liabilities. There were no accumulated impairment losses related to goodwill in the contract drilling segment or other operations as of March 31, 2019 or December 31, 2018. Goodwill is evaluated 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. The Company’s reporting units for impairment testing are its operating segments. The Company determines 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, the Company 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. Intangible Assets — The following table presents the gross carrying amount and accumulated amortization of the intangible assets as of March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 28,000 $ (12,967 ) 15,033 $ 28,000 $ (10,719 ) $ 17,281 Developed technology 55,772 (7,927 ) 47,845 55,772 (6,533 ) 49,239 Favorable drilling contracts - - - 22,500 (22,500 ) - Internal use software 482 (142 ) 340 482 (118 ) 364 $ 84,254 $ (21,036 ) $ 63,218 $ 106,754 $ (39,870 ) $ 66,884 Amortization expense on intangible assets of approximately $3.7 million and $5.4 million was recorded in the three months ended March 31, 2019 and 2018, respectively.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2019
Payables And Accruals [Abstract]
Accrued Expenses	8. Accrued Expenses Accrued expenses consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Salaries, wages, payroll taxes and benefits $ 58,717 $ 58,160 Workers' compensation liability 82,537 83,772 Property, sales, use and other taxes 21,156 25,318 Insurance, other than workers' compensation 9,611 9,531 Accrued interest payable 17,806 15,774 Accrued merger and integration 1,890 2,403 Other 48,479 40,988 Total $ 240,196 $ 235,946

Long Term Debt

Long Term Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Long Term Debt	9. Long Term Debt 2018 Credit Agreement — On March 27, 2018, the Company entered into an amended and restated credit agreement (the “Credit Agreement”) among the Company, 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 Loans under the Credit Agreement bear interest by reference, at the Company’s 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 No subsidiaries of the Company 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 contains representations, warranties, affirmative and negative covenants and events of default and associated remedies that the Company believes are customary for agreements of this nature, including certain restrictions on the ability of the Company and each subsidiary As of March 31, 2019, the Company had no amounts outstanding under the revolving credit facility. The Company had $81,000 in letters of credit outstanding under the revolving credit facility at March 31, 2019 and, as a result, had available borrowing capacity of approximately $600 million at that date. 2015 Reimbursement Agreement — On March 16, 2015, the Company entered into a Reimbursement Agreement (the “Reimbursement Agreement”) with The Bank of Nova Scotia (“Scotiabank”), pursuant to which the Company may from time to time request that Scotiabank issue an unspecified amount of letters of credit. As of March 31, 2019, the Company had $51.4 million in letters of credit outstanding under the Reimbursement Agreement. Under the terms of the Reimbursement Agreement, the Company 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 the Company at the time of issuance at such rates and amounts as are in accordance with Scotiabank’s prevailing practice. The Company is obligated to pay to Scotiabank interest on all amounts not paid by the Company 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. The Company has also agreed that if obligations under the Credit Agreement are secured by liens on any of its or any of its subsidiaries’ property, then the Company’s 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, the Company’s payment obligations under the Reimbursement Agreement are jointly and severally guaranteed as to payment and not as to collection by subsidiaries of the Company that from time to time guarantee payment under the Credit Agreement. No subsidiaries of the Company currently guarantee payment under the Credit Agreement. Series A & B Senior Notes — On October 5, 2010, the Company completed the issuance and sale of $300 million in aggregate principal amount of its 4.97% Series A Senior Notes due October 5, 2020 (the “Series A Notes”) in a private placement. The Series A Notes bear interest at a rate of 4.97% per annum. The Company pays interest on the Series A Notes on April 5 and October 5 of each year. The Series A Notes will mature on October 5, 2020. On June 14, 2012, the Company completed the issuance and sale of $300 million in aggregate principal amount of its 4.27% Series B Senior Notes due June 14, 2022 (the “Series B Notes”) in a private placement. The Series B Notes bear interest at a rate of 4.27% per annum. The Company pays interest on the Series B Notes on April 5 and October 5 of each year. The Series B Notes will mature on June 14, 2022. The Series A Notes and Series B Notes are senior unsecured obligations of the Company which rank equally in right of payment with all other unsubordinated indebtedness of the Company. The Series A Notes and Series B Notes are guaranteed on a senior unsecured basis by each of the existing domestic subsidiaries of the Company other than subsidiaries that are not required to be guarantors under the Credit Agreement. No subsidiaries of the Company are currently required to be a guarantor under the Credit Agreement. The Series A Notes and Series B Notes are prepayable at the Company’s option, in whole or in part, provided that in the case of a partial prepayment, prepayment must be in an amount not less than 5% of the aggregate principal amount of the notes then outstanding, at any time and from time to time at 100% of the principal amount prepaid, plus accrued and unpaid interest to the prepayment date, plus a “make-whole” premium as specified in the note purchase agreements. The Company must offer to prepay the notes upon the occurrence of any change of control. In addition, the Company must offer to prepay the notes upon the occurrence of certain asset dispositions if the proceeds therefrom are not timely reinvested in productive assets. If any offer to prepay is accepted, the purchase price of each prepaid note is 100% of the principal amount thereof, plus accrued and unpaid interest thereon to the prepayment date. The respective note purchase agreements require compliance with two financial covenants. The Company must not permit its debt to capitalization ratio to exceed 50% at any time. The note purchase agreements generally define the 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 last day of the most recently ended fiscal quarter. The Company also must not permit its interest coverage ratio as of the last day of a fiscal quarter to be less than 2.50 to 1.00. The note purchase agreements generally define the interest coverage ratio as the ratio of EBITDA for the four prior fiscal quarters to interest charges for the same period. The Company was in compliance with these covenants at March 31, 2019. Events of default under the note purchase agreements include failure to pay principal or interest when due, failure to comply with the financial and operational covenants, a cross default event, a judgment in excess of a threshold event, the guaranty agreement ceasing to be enforceable, the occurrence of certain ERISA events, a change of control event and bankruptcy and other insolvency events. If an event of default under the note purchase agreements occurs and is continuing, then holders of a majority in principal amount of the respective notes have the right to declare all the notes then-outstanding to be immediately due and payable. In addition, if the Company defaults in payments on any note, then until such defaults are cured, the holder thereof may declare all the notes held by it pursuant to the note purchase agreement to be immediately due and payable. 2028 Senior Notes – On January 19, 2018, the Company completed its offering of $525 million aggregate principal amount of the Company’s 3.95% Senior Notes due 2028 (the “2028 Notes”). The net proceeds before offering expenses were approximately $521 million of which the Company used $239 million to repay amounts outstanding under its revolving credit facility. The Company pays 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. The 2028 Notes are No subsidiaries of the Company are currently required to be a guarantor under the 2028 Notes. If subsidiaries of the Company guarantee the 2028 Notes in the future, such The Company, at its option, may redeem the 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 The indenture pursuant to which the 2028 Notes were issued includes covenants that, among other things, limit the Company and its subsidiaries’ ability to incur Upon the occurrence of a change of control, as defined in the indenture, each holder of the 2028 Notes may require the Company to purchase all or a portion The indenture Debt issuance costs –Debt issuance costs are deferred and recognized as interest expense over the term of the underlying debt. Interest expense related to the amortization of debt issuance costs was approximately $351,000 and $938,000 for the three months ended March 31, 2019 and 2018, respectively. Amortization of debt issuance costs for the three months ended March 31, 2018 includes $317,000 of debt issuance costs related to commitments by lenders under the Company’s previous credit agreement who did not participate in the 2018 Credit Agreement. Presented below is a schedule of the principal repayment requirements of long-term debt as of March 31, 2019 (in thousands): Year ending December 31, 2019 $ — 2020 300,000 2021 — 2022 300,000 2023 — Thereafter 525,000 Total $ 1,125,000

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies As of March 31, 2019, the Company maintained letters of credit in the aggregate amount of $51.4 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 March 31, 2019, no amounts had been drawn under the letters of credit. As of March 31, 2019, the Company had commitments to purchase major equipment and make investments totaling approximately $89.9 million for its drilling, pressure pumping, directional drilling and oilfield rentals businesses. The Company’s pressure pumping business has entered into agreements to purchase minimum quantities of proppants and chemicals from certain vendors. The agreements expire in years 2019 through 2023. As of March 31, 2019, the remaining obligation under these agreements was approximately $50 million, of which approximately $22.3 million relates to purchases required during the remainder of 2019. In the event the required minimum quantities are not purchased during any contract year, the Company could be required to make a liquidated damages payment to the respective vendor for any shortfall. On January 22, 2018, an accident at a drilling site in Pittsburg County, Oklahoma resulted in the losses of life of five people, including three of the Company’s employees. Lawsuits have been filed in the District Court for Pittsburg County, Oklahoma in connection with the five individuals who lost their lives and one of the Company’s employees who was injured in the accident. The lawsuits have been consolidated for discovery purposes under Cause No. CJ-2018-60 (the “Litigation”). These lawsuits allege various causes of action against the Company including negligence, gross negligence, knowledge that injury or death was substantially certain, acting with purpose, recklessness, wrongful death and survival, and the plaintiffs seek an unspecified amount of damages, including punitive or exemplary damages, costs, interest, and other relief. The Company has finalized settlement agreements with four of the plaintiffs who brought wrongful death lawsuits. The Company disputes the plaintiffs’ allegations against the Company in the remaining lawsuits and intends to continue to defend itself vigorously. Based on the information the Company has available as of the date of this Report, the Company believes that it has adequate insurance to cover the Litigation. However, if this accident is not fully covered by insurance or an enforceable and recoverable indemnity from a third party, it could have a material adverse effect on the Company’s business, financial condition, cash flows and results of operations. The Company is party to various other legal proceedings arising in the normal course of its business. The Company does not believe that the outcome of these proceedings, either individually or in the aggregate, will have a material adverse effect on its financial condition, cash flows or results of operations

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Stockholders' Equity	11. Stockholders’ Equity Cash Dividends — The Company paid cash dividends during the three months ended March 31, 2019 and 2018 as follows: 2019: Per Share Total (in thousands) Paid on March 21, 2019 $ 0.04 $ 8,499 2018: Per Share Total (in thousands) Paid on March 22, 2018 $ 0.02 $ 4,443 Paid on June 21, 2018 0.04 8,832 Paid on September 20, 2018 0.04 8,685 Paid on December 20, 2018 0.04 8,629 Total cash dividends $ 0.14 $ 30,589 On April 24, 2019, the Company’s Board of Directors approved a cash dividend on its common stock in the amount of $0.04 per share to be paid on June 20, 2019 to holders of record as of June 6, 2019. 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 the Company’s debt agreements and other factors. On September 6, 2013, the Company’s Board of Directors approved a stock buyback program that authorized purchases of up to $200 million of the Company’s common stock in open market or privately negotiated transactions. On July 25, 2018, the Company’s Board of Directors approved an increase of the authorization under the stock buyback program to allow for $250 million of future share repurchases. On February 6, 2019, the Company’s Board of Directors approved another increase of the authorization under the stock buyback program to allow for $250 million of 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. The Company acquired shares of stock from employees during the first quarter that are accounted for as treasury stock. These shares were acquired to satisfy payroll withholding obligations upon the vesting of restricted shares and restricted stock units. These shares were acquired at fair market value. These acquisitions were made pursuant to the terms of the Patterson-UTI Energy, Inc. Amended and Restated 2014 Long-Term Incentive Plan (the “2014 Plan”) and not pursuant to the stock buyback program. Treasury stock acquisitions during the three months ended March 31, 2019 were as follows (dollars in thousands): Shares Cost Treasury shares at beginning of period 53,701,096 $ 1,080,448 Purchases pursuant to stock buyback program 5,408,132 75,110 Acquisitions pursuant to long-term incentive plan 240 3 Treasury shares at end of period 59,109,468 $ 1,155,561

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-based Compensation	12. Stock-based Compensation The Company uses share-based payments to compensate employees and non-employee directors. The Company recognizes the cost of share-based payments under the fair-value-based method. Share-based awards include equity instruments in the form of stock options, restricted stock or restricted stock units that have included service conditions and, in certain cases, performance conditions. The Company’s share-based awards also include share-settled performance unit awards. Share-settled performance unit awards are accounted for as equity awards. The Company issues 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. Stock Options — The Company estimates the grant date fair values of stock options using the Black-Scholes-Merton valuation model. Volatility assumptions are based on the historic volatility of the Company’s 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 the Company’s 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 three months ended March 31, 2019 or 2018 Stock option activity from January 1, 2019 to March 31, 2019 follows: Weighted Average Underlying Exercise Price Shares Per Share Outstanding at January 1, 2019 5,501,150 $ 19.63 Exercised — $ - Expired — $ - Outstanding at March 31, 2019 5,501,150 $ 19.63 Exercisable at March 31, 2019 5,432,679 $ 19.64 Restricted Stock — For all restricted stock awards made to date, shares of common stock were issued when the awards were made. Non-vested shares are subject to forfeiture for failure to fulfill service conditions, and, in certain cases, performance conditions. Non-forfeitable dividends are paid on non-vested shares of restricted stock. The Company uses the straight-line method to recognize periodic compensation cost over the vesting period. Restricted stock activity from January 1, 2019 to March 31, 2019 follows: Weighted Average Grant Date Fair Value Shares Per Share Non-vested restricted stock outstanding at January 1, 2019 436,224 $ 21.41 Vested (64,494 ) $ 20.61 Forfeited (1,033 ) $ 21.71 Non-vested restricted stock outstanding at March 31, 2019 370,697 $ 21.55 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. The Company uses the straight-line method to recognize periodic compensation cost over the vesting period. Restricted stock unit activity from January 1, 2019 to March 31, 2019 follows: Weighted Average Grant Time Performance Date Fair Value Based Based Per Share Non-vested restricted stock units outstanding at January 1, 2019 2,602,608 435,315 $ 18.95 Granted 101,448 — $ 10.35 Vested (38,615 ) — $ 22.95 Forfeited (46,738 ) — $ 19.23 Non-vested restricted stock units outstanding at March 31, 2019 2,618,703 435,315 $ 18.61 Performance Unit Awards. The Company has 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 the three-year period commencing on April 1 of the year of grant, except that for the Performance Units granted in 2017 the three-year performance period commenced on May 1. The performance goals for the Performance Units are tied to the Company’s total shareholder return for the performance period as compared to total shareholder return for a peer group determined by the Compensation Committee. 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. Generally, the recipients will receive a target number of shares if the Company’s total shareholder return during the performance period, when compared to the peer group, is at the 50 th th th th th In April 2018, 381,200 shares were issued to settle the 2015 Performance Units. For the Performance Units granted in April 2016, if the Company’s total shareholder return for the performance period is negative, and, when compared to the peer group is at or above the 25th percentile, then the recipients will receive one-half of the number of shares they would have received had the Company’s total shareholder return been positive. For the Performance Units granted in May 2017 and April 2018, the payout is based on relative performance and does not have an absolute performance requirement. The total target number of shares with respect to the Performance Units for the awards granted in 2015-2018 is set forth below: 2018 2017 2016 2015 Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Target number of shares 310,700 186,198 185,000 190,600 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): 2018 2017 2016 2015 Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Fair value at date of grant $ 8,004 $ 5,780 $ 3,854 $ 4,052 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): 2018 2017 2016 2015 Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Three months ended March 31, 2019 $ 667 $ 482 $ 321 NA Three months ended March 31, 2018 NA $ 482 $ 321 $ 338

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The Company’s 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, impact of U.S. state and local taxes, and other differences related to the recognition of income and expense between U.S. GAAP and tax. The Company’s effective income tax rate for the three months ended March 31, 2019 was 18.8%, compared with (.8)% for the three months ended March 31, 2018. The lower effective income tax rate for the three months ended March 31, 2018 was primarily attributable to changes in forecasted annual pretax income in the first quarter of 2018 as compared to the forecasted annual pretax income in the first quarter of 2019. The Company also recorded a valuation allowance against the net deferred tax assets of a Canadian subsidiary of the Company due to a change in judgment as to the realizability of these assets in the first quarter of 2018. The Company continues to monitor income tax developments in the United States and other countries where the Company operates. In December 2017, the United States enacted U.S. Tax Reform,

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	14. Earnings Per Share The Company provides a dual presentation of its net loss per common share in its 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 restricted stock units is determined using the treasury stock method. The dilutive effect of non-vested shares of restricted stock is based on the more dilutive of the treasury stock method or the two-class method, assuming a reallocation of undistributed earnings to common stockholders after considering the dilutive effect of potential common shares other than non-vested shares of restricted stock. The following table presents information necessary to calculate net loss per share for the three months ended March 31, 2019 and 2018 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 March 31, 2019 2018 BASIC EPS: Net loss attributed to common stockholders $ (28,614 ) $ (34,417 ) Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock 211,868 220,783 Basic net loss per common share $ (0.14 ) $ (0.16 ) DILUTED EPS: Net loss attributed to common stockholders $ (28,614 ) $ (34,417 ) Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock 211,868 220,783 Add dilutive effect of potential common shares — — Weighted average number of diluted common shares outstanding 211,868 220,783 Diluted net loss per common share $ (0.14 ) $ (0.16 ) Potentially dilutive securities excluded as anti-dilutive 10,033 9,738

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Business Segments	15. Business Segments At March 31, 2019, the Company 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 the Company’s 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 the Company’s business segments (in thousands): Three Months Ended March 31, 2019 2018 Revenues: Contract drilling $ 372,743 $ 328,153 Pressure pumping 247,601 406,784 Directional drilling 52,959 48,616 Other operations (1) 35,391 29,653 Elimination of intercompany revenues (2) (4,523 ) (4,042 ) Total revenues $ 704,171 $ 809,164 Income (loss) before income taxes: Contract drilling $ 21,217 $ (17,103 ) Pressure pumping (18,768 ) 25,389 Directional drilling (5,667 ) (4,913 ) Other operations (5,204 ) (4,089 ) Corporate (23,697 ) (23,807 ) Other operating income, net (3) 8,736 2,421 Interest income 1,032 1,423 Interest expense (12,984 ) (13,625 ) Other 117 169 Loss before income taxes $ (35,218 ) $ (34,135 ) Depreciation, depletion, amortization and impairment: Contract drilling $ 130,317 $ 130,917 Pressure pumping 60,135 56,522 Directional drilling 10,367 10,902 Other operations 11,788 9,314 Corporate 1,803 2,237 Total depreciation, depletion, amortization and impairment $ 214,410 $ 209,892 Capital expenditures: Contract drilling $ 75,725 $ 75,247 Pressure pumping 31,400 24,923 Directional drilling 2,112 12,829 Other operations 7,773 9,396 Corporate 1,331 526 Total capital expenditures $ 118,341 $ 122,921 March 31, December 31, 2019 2018 Identifiable assets: Contract drilling $ 3,725,627 $ 3,817,638 Pressure pumping 894,357 921,237 Directional drilling 242,686 239,341 Other operations 179,584 177,374 Corporate (4) 325,498 314,276 Total assets $ 5,367,752 $ 5,469,866 (1) Other operations includes the Company’s oilfield rentals business, pipe handling components and related technology business, the electrical controls and automation business, the oil and natural gas working interests and Middle East/North Africa activities. (2) Intercompany revenues consists of contract drilling and revenues from other operations for services provided to contract drilling, pressure pumping and within other operations. (3) Other operating income, net includes net gains associated with the disposal of assets related to corporate strategy decisions of the executive management group. Accordingly, the related gains have been excluded from the operating results of specific segments. This caption also includes certain legal-related expenses and settlements, net of insurance reimbursements. (4) Corporate assets primarily include cash on hand and certain property and equipment.

Fair Values of Financial Instru

Fair Values of Financial Instruments	3 Months Ended
	Mar. 31, 2019
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 the Company’s outstanding debt balances as of March 31, 2019 and December 31, 2018 is set forth below (in thousands): March 31, 2019 December 31, 2018 Carrying Fair Carrying Fair Value Value Value Value 3.95% Senior Notes $ 525,000 $ 501,909 $ 525,000 $ 482,488 4.97% Series A Senior Notes 300,000 301,459 300,000 300,043 4.27% Series B Senior Notes 300,000 297,875 300,000 293,900 Total debt $ 1,125,000 $ 1,101,243 $ 1,125,000 $ 1,076,431 The fair values of the 3.95% Senior Notes at March 31, 2019 and December 31, 2018 are based on discounted cash flows associated with the notes using the 4.65% market rate of interest at March 31, 2019 and the 5.07% market rate of interest at December 31, 2018. The fair value estimates of the 3.95% Senior Notes are considered Level 1 fair value estimates in the fair value hierarchy of fair value accounting. The fair values of the Series A Notes and Series B Notes at March 31, 2019 and December 31, 2018 are based on discounted cash flows associated with the respective notes using current market rates of interest at those respective dates. For the Series A Notes, the current market rates used in measuring this fair value were 4.63% at March 31, 2019 and 4.97% at December 31, 2018. For the Series B Notes, the current market rates used in measuring this fair value were 4.51% at March 31, 2019 and 4.92% at December 31, 2018. These fair value estimates are based on observable market inputs and are considered Level 2 fair value estimates in the fair value hierarchy of fair value accounting.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards – In May 2014, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update to provide guidance on the recognition of revenue from customers. Under this guidance, an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. This guidance also requires more detailed disclosures to enable users of the financial statements to understand the nature, amount, timing and uncertainty, if any, of revenue and cash flows arising from contracts with customers. The requirements in this update are effective during interim and annual periods beginning after December 15, 2017. The Company adopted this new revenue guidance effective January 1, 2018, utilizing the modified retrospective method, and expanded its consolidated financial statement disclosures in order to comply with the update (See Note 3). The adoption of this update did not have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued an accounting standards update to provide guidance for the accounting for leasing transactions. The standard requires the lessee to recognize a lease liability along with a right-of-use asset for all leases with a term longer than one year. A lessee is permitted to make an accounting policy election by class of underlying asset to not recognize the lease liability and related right-of-use asset for leases with a term of one year or less. The provisions of this standard also apply to situations where the Company is the lessor. The requirements in this update are effective during interim and annual periods beginning after December 15, 2018. The Company adopted this new leasing guidance effective January 1, 2019 and expanded its consolidated financial statement disclosures in order to comply with the update (See Note 4). In August 2016, the FASB issued an accounting standards update to clarify the presentation of cash receipts and payments in specific situations on the statement of cash flows. The requirements in this update are effective during interim and annual periods in fiscal years beginning after December 15, 2017. The adoption of this update on January 1, 2018 did not have a material impact on the Company’s consolidated financial statements. In May 2017, the FASB issued an accounting standards update that provided clarity on which changes to the terms or conditions of share-based payment awards require an entity to apply modification accounting provisions. The requirements in this update are effective during interim and annual periods in fiscal years beginning after December 15, 2017. The adoption of this update on January 1, 2018 did not have a material impact on the Company’s consolidated financial statements. In March 2018, the FASB issued an accounting standards update to update the income tax accounting in U.S. GAAP to reflect the SEC interpretive guidance released on December 22, 2017, when significant U.S. tax law changes were enacted with the enactment of “H.R.1,” also known as the “Tax Cuts and Jobs Act” (“U.S. Tax Reform”). The adoption of this update in March 2018 did not have a material impact on the Company’s consolidated financial statements, as the Company was already following the SEC guidance. See Note 13 for additional information. 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 amendments in the update are effective for public business entities for fiscal years beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the impact this new guidance will have on its consolidated financial statements.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Summary of Lease Expense	Lease expense consisted of the following for the three months ended March 31, 2019 (in thousands): Three Months Ended March 31, 2019 Operating lease cost $ 3,039 Short-term lease expense (1) 276 Total lease expense $ 3,315 (1) Short-term lease expense represents expense related to leases with a contract term of one year or less.
Summary of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases for the three months ended March 31, 2019 is as follows (in thousands): Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,728 Right of use assets obtained in exchange for lease obligations: Operating leases $ -
Summary of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases as of March 31, 2019 is as follows: March 31, 2019 Weighted Average Remaining Lease Term: Operating leases 5.0 years Weighted Average Discount Rate: Operating leases 4.4 %
Summary of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities as of March 31, 2019 are as follows (in thousands): Year ending December 31, 2019 (excluding the three months ended March 31, 2019) $ 8,062 2020 9,188 2021 6,661 2022 4,622 2023 2,663 Thereafter 6,552 Total lease payments 37,748 Less imputed interest (4,628 ) Total $ 33,120
Summary of Maturities of Operating Lease Liabilities Previously Disclosed	Maturities of operating lease liabilities as of December 31, 2018, as previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, are as follows (in thousands): Year ending December 31, 2019 $ 11,408 2020 9,069 2021 6,543 2022 4,625 2023 2,663 Thereafter 6,552 Total $ 40,860

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventory	Inventory consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Finished goods $ 602 $ 347 Work-in-process 6,088 6,375 Raw materials and supplies 59,181 58,857 Inventory $ 65,871 $ 65,579

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property Plant And Equipment [Abstract]
Property and Equipment	Property and equipment consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Equipment $ 8,392,658 $ 8,370,933 Oil and natural gas properties 221,782 219,855 Buildings 186,989 186,736 Land 26,898 26,144 Total property and equipment 8,828,327 8,803,668 Less accumulated depreciation, depletion and impairment (4,929,809 ) (4,801,119 ) Property and equipment, net $ 3,898,518 $ 4,002,549

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill by Operating Segment	Goodwill — Goodwill by operating segment as of March 31, 2019 and changes for the three months then ended are as follows (in thousands): Contract Other Drilling Operations Total Balance at beginning of period $ 395,060 15,696 $ 410,756 Changes to goodwill — 2,104 2,104 Balance at end of period $ 395,060 $ 17,800 $ 412,860
Gross Carrying Amount and Accumulated Amortization of Intangible Assets	Intangible Assets — The following table presents the gross carrying amount and accumulated amortization of the intangible assets as of March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 28,000 $ (12,967 ) 15,033 $ 28,000 $ (10,719 ) $ 17,281 Developed technology 55,772 (7,927 ) 47,845 55,772 (6,533 ) 49,239 Favorable drilling contracts - - - 22,500 (22,500 ) - Internal use software 482 (142 ) 340 482 (118 ) 364 $ 84,254 $ (21,036 ) $ 63,218 $ 106,754 $ (39,870 ) $ 66,884

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2019
Payables And Accruals [Abstract]
Summary of Accrued Expenses	Accrued expenses consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Salaries, wages, payroll taxes and benefits $ 58,717 $ 58,160 Workers' compensation liability 82,537 83,772 Property, sales, use and other taxes 21,156 25,318 Insurance, other than workers' compensation 9,611 9,531 Accrued interest payable 17,806 15,774 Accrued merger and integration 1,890 2,403 Other 48,479 40,988 Total $ 240,196 $ 235,946

Long Term Debt (Tables)

Long Term Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
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 March 31, 2019 (in thousands): Year ending December 31, 2019 $ — 2020 300,000 2021 — 2022 300,000 2023 — Thereafter 525,000 Total $ 1,125,000

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Cash Dividends	Cash Dividends — The Company paid cash dividends during the three months ended March 31, 2019 and 2018 as follows: 2019: Per Share Total (in thousands) Paid on March 21, 2019 $ 0.04 $ 8,499 2018: Per Share Total (in thousands) Paid on March 22, 2018 $ 0.02 $ 4,443 Paid on June 21, 2018 0.04 8,832 Paid on September 20, 2018 0.04 8,685 Paid on December 20, 2018 0.04 8,629 Total cash dividends $ 0.14 $ 30,589
Treasury Stock Acquisition	Treasury stock acquisitions during the three months ended March 31, 2019 were as follows (dollars in thousands): Shares Cost Treasury shares at beginning of period 53,701,096 $ 1,080,448 Purchases pursuant to stock buyback program 5,408,132 75,110 Acquisitions pursuant to long-term incentive plan 240 3 Treasury shares at end of period 59,109,468 $ 1,155,561

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Option Activity	Stock option activity from January 1, 2019 to March 31, 2019 follows: Weighted Average Underlying Exercise Price Shares Per Share Outstanding at January 1, 2019 5,501,150 $ 19.63 Exercised — $ - Expired — $ - Outstanding at March 31, 2019 5,501,150 $ 19.63 Exercisable at March 31, 2019 5,432,679 $ 19.64
Restricted Stock Activity	Restricted stock activity from January 1, 2019 to March 31, 2019 follows: Weighted Average Grant Date Fair Value Shares Per Share Non-vested restricted stock outstanding at January 1, 2019 436,224 $ 21.41 Vested (64,494 ) $ 20.61 Forfeited (1,033 ) $ 21.71 Non-vested restricted stock outstanding at March 31, 2019 370,697 $ 21.55
Restricted Stock Unit Activity	Restricted stock unit activity from January 1, 2019 to March 31, 2019 follows: Weighted Average Grant Time Performance Date Fair Value Based Based Per Share Non-vested restricted stock units outstanding at January 1, 2019 2,602,608 435,315 $ 18.95 Granted 101,448 — $ 10.35 Vested (38,615 ) — $ 22.95 Forfeited (46,738 ) — $ 19.23 Non-vested restricted stock units outstanding at March 31, 2019 2,618,703 435,315 $ 18.61
Performance Units	The total target number of shares with respect to the Performance Units for the awards granted in 2015-2018 is set forth below: 2018 2017 2016 2015 Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Target number of shares 310,700 186,198 185,000 190,600
Fair Value of Performance Units	The fair value of the Performance Units is set forth below (in thousands): 2018 2017 2016 2015 Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Fair value at date of grant $ 8,004 $ 5,780 $ 3,854 $ 4,052
Compensation Expense Associated with Performance Units	Compensation expense associated with the Performance Units is shown below (in thousands): 2018 2017 2016 2015 Performance Performance Performance Performance Unit Awards Unit Awards Unit Awards Unit Awards Three months ended March 31, 2019 $ 667 $ 482 $ 321 NA Three months ended March 31, 2018 NA $ 482 $ 321 $ 338

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
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 months ended March 31, 2019 and 2018 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 March 31, 2019 2018 BASIC EPS: Net loss attributed to common stockholders $ (28,614 ) $ (34,417 ) Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock 211,868 220,783 Basic net loss per common share $ (0.14 ) $ (0.16 ) DILUTED EPS: Net loss attributed to common stockholders $ (28,614 ) $ (34,417 ) Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock 211,868 220,783 Add dilutive effect of potential common shares — — Weighted average number of diluted common shares outstanding 211,868 220,783 Diluted net loss per common share $ (0.14 ) $ (0.16 ) Potentially dilutive securities excluded as anti-dilutive 10,033 9,738

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Business Segments - Financial Information	The following tables summarize selected financial information relating to the Company’s business segments (in thousands): Three Months Ended March 31, 2019 2018 Revenues: Contract drilling $ 372,743 $ 328,153 Pressure pumping 247,601 406,784 Directional drilling 52,959 48,616 Other operations (1) 35,391 29,653 Elimination of intercompany revenues (2) (4,523 ) (4,042 ) Total revenues $ 704,171 $ 809,164 Income (loss) before income taxes: Contract drilling $ 21,217 $ (17,103 ) Pressure pumping (18,768 ) 25,389 Directional drilling (5,667 ) (4,913 ) Other operations (5,204 ) (4,089 ) Corporate (23,697 ) (23,807 ) Other operating income, net (3) 8,736 2,421 Interest income 1,032 1,423 Interest expense (12,984 ) (13,625 ) Other 117 169 Loss before income taxes $ (35,218 ) $ (34,135 ) Depreciation, depletion, amortization and impairment: Contract drilling $ 130,317 $ 130,917 Pressure pumping 60,135 56,522 Directional drilling 10,367 10,902 Other operations 11,788 9,314 Corporate 1,803 2,237 Total depreciation, depletion, amortization and impairment $ 214,410 $ 209,892 Capital expenditures: Contract drilling $ 75,725 $ 75,247 Pressure pumping 31,400 24,923 Directional drilling 2,112 12,829 Other operations 7,773 9,396 Corporate 1,331 526 Total capital expenditures $ 118,341 $ 122,921 March 31, December 31, 2019 2018 Identifiable assets: Contract drilling $ 3,725,627 $ 3,817,638 Pressure pumping 894,357 921,237 Directional drilling 242,686 239,341 Other operations 179,584 177,374 Corporate (4) 325,498 314,276 Total assets $ 5,367,752 $ 5,469,866 (1) Other operations includes the Company’s oilfield rentals business, pipe handling components and related technology business, the electrical controls and automation business, the oil and natural gas working interests and Middle East/North Africa activities. (2) Intercompany revenues consists of contract drilling and revenues from other operations for services provided to contract drilling, pressure pumping and within other operations. (3) Other operating income, net includes net gains associated with the disposal of assets related to corporate strategy decisions of the executive management group. Accordingly, the related gains have been excluded from the operating results of specific segments. This caption also includes certain legal-related expenses and settlements, net of insurance reimbursements. (4) Corporate assets primarily include cash on hand and certain property and equipment.

Fair Values of Financial Inst_2

Fair Values of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Estimated Fair Value of Outstanding Debt Balances	The estimated fair value of the Company’s outstanding debt balances as of March 31, 2019 and December 31, 2018 is set forth below (in thousands): March 31, 2019 December 31, 2018 Carrying Fair Carrying Fair Value Value Value Value 3.95% Senior Notes $ 525,000 $ 501,909 $ 525,000 $ 482,488 4.97% Series A Senior Notes 300,000 301,459 300,000 300,043 4.27% Series B Senior Notes 300,000 297,875 300,000 293,900 Total debt $ 1,125,000 $ 1,101,243 $ 1,125,000 $ 1,076,431

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019
Superior QC
Business Acquisition [Line Items]
Business acquisition date	Feb. 20, 2018
Current Power Solutions Inc.
Business Acquisition [Line Items]
Business acquisition date	Oct. 25, 2018

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Accounts receivable balances	$ 547,993,000		$ 558,817,000
Amount amortized and recorded in drilling revenue	704,171,000	$ 809,164,000
Contract Drilling
Disaggregation Of Revenue [Line Items]
Amount amortized and recorded in drilling revenue	372,392,000	327,803,000
ASC Topic 606 Revenue from Contracts with Customers
Disaggregation Of Revenue [Line Items]
Accounts receivable balances	544,000,000		554,000,000
ASC Topic 606 Revenue from Contracts with Customers | Customer Prepayments
Disaggregation Of Revenue [Line Items]
Contract liability balances included in accounts payable and accrued liabilities	6,800,000		3,000,000
ASC Topic 606 Revenue from Contracts with Customers | Deferred Mobilization Payments
Disaggregation Of Revenue [Line Items]
Contract liability balances included in accounts payable and accrued liabilities	4,200,000		$ 4,600,000
ASC Topic 606 Revenue from Contracts with Customers | Contract Drilling
Disaggregation Of Revenue [Line Items]
Amount amortized and recorded in drilling revenue	$ 402,000	$ 405,000
Maximum
Disaggregation Of Revenue [Line Items]
Accounts receivable payment terms	60 days
Minimum
Disaggregation Of Revenue [Line Items]
Accounts receivable payment terms	30 days

Leases - Additional Information

Leases - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019
Minimum
Lessee Lease Description [Line Items]
Operating leasing arrangements initial term	1 year
Leases remaining lease terms	1 month
Maximum
Lessee Lease Description [Line Items]
Leases remaining lease terms	9 years

Leases - Summary of Lease Expen

Leases - Summary of Lease Expense (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 3,039
Short-term lease expense	276	[1]
Total lease expense	$ 3,315
[1]	Short-term lease expense represents expense related to leases with a contract term of one year or less.

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cashflow Information Related to Leases (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 2,728

Leases - Summary of Supplemen_2

Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Detail)	Mar. 31, 2019
Weighted Average Remaining Lease Term:
Operating leases	5 years
Weighted Average Discount Rate:
Operating leases	4.40%

Leases - Summary of Maturities

Leases - Summary of Maturities of Operating Lease Liabilities (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
2019 (excluding the three months ended March 31, 2019)	$ 8,062
2020	9,188
2021	6,661
2022	4,622
2023	2,663
Thereafter	6,552
Total lease payments	37,748
Less imputed interest	(4,628)
Total	$ 33,120

Leases - Summary of Maturitie_2

Leases - Summary of Maturities of Operating Lease Liabilities Previously Disclosed (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 11,408
2020	9,069
2021	6,543
2022	4,625
2023	2,663
Thereafter	6,552
Total	$ 40,860

Inventory (Detail)

Inventory (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventory Net [Abstract]
Finished goods	$ 602	$ 347
Work-in-process	6,088	6,375
Raw materials and supplies	59,181	58,857
Inventory	$ 65,871	$ 65,579

Property and Equipment (Detail)

Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Total property and equipment	$ 8,828,327	$ 8,803,668
Less accumulated depreciation, depletion and impairment	(4,929,809)	(4,801,119)
Property and equipment, net	3,898,518	4,002,549
Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	8,392,658	8,370,933
Oil and natural gas properties
Property Plant And Equipment [Line Items]
Total property and equipment	221,782	219,855
Buildings
Property Plant And Equipment [Line Items]
Total property and equipment	186,989	186,736
Land
Property Plant And Equipment [Line Items]
Total property and equipment	$ 26,898	$ 26,144

Goodwill by Operating Segment (

Goodwill by Operating Segment (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Goodwill [Line Items]
Balance at beginning of period	$ 410,756
Changes to goodwill	2,104
Balance at end of period	412,860
Contract Drilling
Goodwill [Line Items]
Balance at beginning of period	395,060
Balance at end of period	395,060
Other Operations
Goodwill [Line Items]
Balance at beginning of period	15,696
Changes to goodwill	2,104
Balance at end of period	$ 17,800

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Line Items]
Increase in goodwill	$ 2,104,000
Amortization expense on intangible assets	3,700,000	$ 5,400,000
Contract Drilling
Goodwill And Intangible Assets Disclosure [Line Items]
Accumulated impairment losses	0		$ 0
Other Operations
Goodwill And Intangible Assets Disclosure [Line Items]
Increase in goodwill	2,104,000
Accumulated impairment losses	$ 0		$ 0

Gross Carrying Amount and Accum

Gross Carrying Amount and Accumulated Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 84,254	$ 106,754
Accumulated Amortization	(21,036)	(39,870)
Net Carrying Amount	63,218	66,884
Customer Relationships
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	28,000	28,000
Accumulated Amortization	(12,967)	(10,719)
Net Carrying Amount	15,033	17,281
Developed Technology
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	55,772	55,772
Accumulated Amortization	(7,927)	(6,533)
Net Carrying Amount	47,845	49,239
Favorable Drilling Contracts
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount		22,500
Accumulated Amortization		(22,500)
Internal Use Software
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	482	482
Accumulated Amortization	(142)	(118)
Net Carrying Amount	$ 340	$ 364

Summary of Accrued Expenses (De

Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Payables And Accruals [Abstract]
Salaries, wages, payroll taxes and benefits	$ 58,717	$ 58,160
Workers' compensation liability	82,537	83,772
Property, sales, use and other taxes	21,156	25,318
Insurance, other than workers' compensation	9,611	9,531
Accrued interest payable	17,806	15,774
Accrued merger and integration	1,890	2,403
Other	48,479	40,988
Accrued expenses	$ 240,196	$ 235,946

Long Term Debt - Credit Facilit

Long Term Debt - Credit Facilities - Additional Information (Detail)	Mar. 26, 2019	Mar. 27, 2018USD ($)Option	Mar. 16, 2015	Mar. 31, 2019USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding				$ 51,400,000
Letter of Credit
Debt Instrument [Line Items]
Line of credit, amount outstanding				0
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, amount 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				the Company’s total debt to capitalization ratio, expressed as a percentage, not exceed 50%. The Credit Agreement generally defines the 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				150.00%
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) | 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 | 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		$ 600,000,000
Debt maturity date	Mar. 27, 2024	Mar. 27, 2023
Debt instrument, number of optional extensions to initial maturity date | Option		2
Optional extension period of initial maturity date		1 year
Letters of credit outstanding				$ 81,000
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				$ 51,400,000
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)	Jan. 19, 2018USD ($)	Jun. 14, 2012USD ($)Covenant	Oct. 05, 2010USD ($)Covenant	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018
Debt Instrument [Line Items]
Repayment of borrowings					$ 347,000,000
Proceeds from borrowings, before offering expenses					79,000,000
Interest expense related to amortization of debt issuance costs				$ 351,000	938,000
Revolving Credit Facility
Debt Instrument [Line Items]
Repayment of borrowings	$ 239,000,000
4.97% Series A Senior Notes, Due October 5th 2020
Debt Instrument [Line Items]
Debt maturity date			Oct. 5, 2020
Long-term debt, aggregate principal amount			$ 300,000,000
Debt interest rate			4.97%
Semi-annual interest payment, first payment date				April 5
Semi-annual interest payment, second payment date				October 5
Notes issuance date			Oct. 5, 2010
Description of the prepayment terms				Notes are prepayable at the Company’s option, in whole or in part, provided that in the case of a partial prepayment, prepayment must be in an amount not less than 5% of the aggregate principal amount of the notes then outstanding, at any time and from time to time at 100% of the principal amount prepaid, plus accrued and unpaid interest to the prepayment date, plus a “make-whole” premium as specified in the note purchase agreements. The Company must offer to prepay the notes upon the occurrence of any change of control. In addition, the Company must offer to prepay the notes upon the occurrence of certain asset dispositions if the proceeds therefrom are not timely reinvested in productive assets. If any offer to prepay is accepted, the purchase price of each prepaid note is 100% of the principal amount thereof, plus accrued and unpaid interest thereon to the prepayment date.
Debt instrument, redemption percentage			100.00%
Description of the acceptance terms				If any offer to prepay is accepted, the purchase price of each prepaid note is 100% of the principal amount thereof, plus accrued and unpaid interest thereon to the prepayment date.
Acceptance terms, percent of principal before accrued and unpaid interest			100.00%
Number of compliance covenants | Covenant			2
Note purchase agreement, financial covenant description				The Company must not permit its debt to capitalization ratio to exceed 50% at any time. The note purchase agreements generally define the 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 last day of the most recently ended fiscal quarter. The Company also must not permit its interest coverage ratio as of the last day of a fiscal quarter to be less than 2.50 to 1.00. The note purchase agreements generally define the interest coverage ratio as the ratio of EBITDA for the four prior fiscal quarters to interest charges for the same period. The Company was in compliance with these covenants at March 31, 2019.
4.97% Series A Senior Notes, Due October 5th 2020 | Minimum
Debt Instrument [Line Items]
Debt instrument, prepayment percentage of aggregate principal amount			5.00%
Interest coverage ratio that the Company must exceed on the last day of the fiscal quarter			2.50%
4.97% Series A Senior Notes, Due October 5th 2020 | Maximum
Debt Instrument [Line Items]
Debt to capitalization ratio, percentage the Company must not exceed at any time			50.00%
4.27% Series B Senior Notes, Due June 14th 2022
Debt Instrument [Line Items]
Debt maturity date		Jun. 14, 2022
Long-term debt, aggregate principal amount		$ 300,000,000
Debt interest rate		4.27%
Semi-annual interest payment, first payment date				April 5
Semi-annual interest payment, second payment date				October 5
Notes issuance date		Jun. 14, 2012
Description of the prepayment terms				Notes are prepayable at the Company’s option, in whole or in part, provided that in the case of a partial prepayment, prepayment must be in an amount not less than 5% of the aggregate principal amount of the notes then outstanding, at any time and from time to time at 100% of the principal amount prepaid, plus accrued and unpaid interest to the prepayment date, plus a “make-whole” premium as specified in the note purchase agreements. The Company must offer to prepay the notes upon the occurrence of any change of control. In addition, the Company must offer to prepay the notes upon the occurrence of certain asset dispositions if the proceeds therefrom are not timely reinvested in productive assets. If any offer to prepay is accepted, the purchase price of each prepaid note is 100% of the principal amount thereof, plus accrued and unpaid interest thereon to the prepayment date.
Debt instrument, redemption percentage		100.00%
Description of the acceptance terms				If any offer to prepay is accepted, the purchase price of each prepaid note is 100% of the principal amount thereof, plus accrued and unpaid interest thereon to the prepayment date.
Acceptance terms, percent of principal before accrued and unpaid interest		100.00%
Number of compliance covenants | Covenant		2
Note purchase agreement, financial covenant description				The Company must not permit its debt to capitalization ratio to exceed 50% at any time. The note purchase agreements generally define the 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 last day of the most recently ended fiscal quarter. The Company also must not permit its interest coverage ratio as of the last day of a fiscal quarter to be less than 2.50 to 1.00. The note purchase agreements generally define the interest coverage ratio as the ratio of EBITDA for the four prior fiscal quarters to interest charges for the same period. The Company was in compliance with these covenants at March 31, 2019.
4.27% Series B Senior Notes, Due June 14th 2022 | Minimum
Debt Instrument [Line Items]
Debt instrument, prepayment percentage of aggregate principal amount		5.00%
Interest coverage ratio that the Company must exceed on the last day of the fiscal quarter		2.50%
4.27% Series B Senior Notes, Due June 14th 2022 | Maximum
Debt Instrument [Line Items]
Debt to capitalization ratio, percentage the Company must not exceed at any time		50.00%
3.95% Senior Notes Due 2028
Debt Instrument [Line Items]
Debt maturity date	Feb. 1, 2028
Long-term debt, aggregate principal amount	$ 525,000,000
Debt interest rate	3.95%			3.95%		3.95%
Debt instrument, redemption percentage	100.00%
Proceeds from borrowings, before offering expenses	$ 521,000,000
Debt payment term				The Company pays interest on the 2028 Notes on February 1 and August 1 of each year.
Debt instrument redemption description				The Company, at its option, may redeem the 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 2028 Notes to be redeemed, plus accrued and unpaid interest, if any, on those 2028 Notes to the redemption date, plus a make-whole premium. Additionally, commencing on November 1, 2027, the Company, at its option, may redeem the 2028 Notes in whole or in part, at a redemption price equal to 100% of the principal amount of the 2028 Notes to be redeemed, plus accrued and unpaid interest, if any, on those 2028 Notes to the redemption date.
Debt instrument redemption upon the occurrence of change of control, description				Upon the occurrence of a change of control, as defined in the indenture, each holder of the 2028 Notes may require the Company to purchase all or a portion of such holder’s 2028 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%
Previous Credit Agreement
Debt Instrument [Line Items]
Interest expense related to amortization of debt issuance costs					$ 317,000

Schedule of Principal Repayment

Schedule of Principal Repayment Requirements of Long-Term Debt (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Debt Disclosure [Abstract]
2020	$ 300,000
2022	300,000
Thereafter	525,000
Total	$ 1,125,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019USD ($)Plaintiff
Commitments and Contingencies Disclosure [Line Items]
Letters of credit, collateral for retrospective premiums and retained losses	$ 51,400,000
Commitments to purchase major equipment and investments	$ 89,900,000
Agreement expire description	The agreements expire in years 2019 through 2023.
Current obligation	$ 50,000,000
Purchase obligations for remainder of 2019	$ 22,300,000
Number of plaintiffs finalized for settlement alleging wrongful death lawsuits | Plaintiff	4
Letter of Credit
Commitments and Contingencies Disclosure [Line Items]
Amount drawn under letters of credit	$ 0

Cash Dividends (Detail)

Cash Dividends (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Dividends Payable [Line Items]
Cash dividends paid, per share	$ 0.04	$ 0.02	$ 0.14
Cash dividends paid	$ 8,499	$ 4,443	$ 30,589
Installment 1, FY 2019
Dividends Payable [Line Items]
Cash dividends paid, date	Mar. 21, 2019
Cash dividends paid, per share	$ 0.04
Cash dividends paid	$ 8,499
Installment 1, FY 2018
Dividends Payable [Line Items]
Cash dividends paid, date			Mar. 22, 2018
Cash dividends paid, per share			$ 0.02
Cash dividends paid			$ 4,443
Installment 2, FY 2018
Dividends Payable [Line Items]
Cash dividends paid, date			Jun. 21, 2018
Cash dividends paid, per share			$ 0.04
Cash dividends paid			$ 8,832
Installment 3, FY 2018
Dividends Payable [Line Items]
Cash dividends paid, date			Sep. 20, 2018
Cash dividends paid, per share			$ 0.04
Cash dividends paid			$ 8,685
Installment 4, FY 2018
Dividends Payable [Line Items]
Cash dividends paid, date			Dec. 20, 2018
Cash dividends paid, per share			$ 0.04
Cash dividends paid			$ 8,629

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Apr. 24, 2019	Mar. 31, 2019	Feb. 06, 2019	Jul. 25, 2018	Sep. 06, 2013
2013 program
Class Of Stock [Line Items]
Amount approved for repurchases under stock buyback program			$ 250,000,000	$ 250,000,000
Remaining amount approved for repurchases under stock buyback program		$ 175,000,000
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	Apr. 24, 2019
Dividend per share, declared	$ 0.04
Dividend payment date	Jun. 20, 2019
Dividend record date	Jun. 6, 2019

Treasury Stock Acquisition (Det

Treasury Stock Acquisition (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Schedule of Treasury Stock [Line Items]
Treasury shares at beginning of period	53,701,096
Treasury shares at end of period	59,109,468
Treasury shares at beginning of period	$ 1,080,448
Treasury stock acquired, cost	75,113	$ 16,928
Treasury shares at end of period	$ 1,155,561
Stock Buyback Program
Schedule of Treasury Stock [Line Items]
Treasury stock acquired, shares	5,408,132
Treasury stock acquired, cost	$ 75,110
Long Term Incentive Plan
Schedule of Treasury Stock [Line Items]
Treasury stock acquired, shares	240
Treasury stock acquired, cost	$ 3

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Detail) - shares	1 Months Ended	3 Months Ended
	Apr. 30, 2018	Mar. 31, 2019	Mar. 31, 2018
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
Performance Units Awards | 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued	381,200
Performance Units Awards | Condition One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award description		Generally, the recipients will receive a target number of shares if the Company’s total shareholder return during the performance period, when compared to the peer group, is at the 50th percentile. If the Company’s 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.

Stock Option Activity (Detail)

Stock Option Activity (Detail)	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Shares
Outstanding at beginning of period | shares	5,501,150
Exercised | shares	0
Expired | shares	0
Outstanding at end of period | shares	5,501,150
Exercisable at end of year | shares	5,432,679
Weighted Average Exercise Price Per Share
Outstanding at beginning of period | $ / shares	$ 19.63
Exercised | $ / shares	0
Expired | $ / shares	0
Outstanding at end of period | $ / shares	19.63
Exercisable at end of year | $ / shares	$ 19.64

Restricted Stock Activity (Deta

Restricted Stock Activity (Detail) - Restricted Stock Awards	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Shares
Outstanding at beginning of period | shares	436,224
Vested | shares	(64,494)
Forfeited | shares	(1,033)
Outstanding at end of period | shares	370,697
Weighted Average Grant Date Fair Value Per Share
Outstanding at beginning of period | $ / shares	$ 21.41
Vested | $ / shares	20.61
Forfeited | $ / shares	21.71
Outstanding at end of period | $ / shares	$ 21.55

Restricted Stock Unit Activity

Restricted Stock Unit Activity (Detail)	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Time Based Restricted Stock Units
Shares
Outstanding at beginning of period	2,602,608
Granted	101,448
Vested	(38,615)
Forfeited	(46,738)
Outstanding at end of period	2,618,703
Performance Based Restricted Stock Units
Shares
Outstanding at beginning of period	435,315
Outstanding at end of period	435,315
Restricted Stock Units (RSUs)
Weighted Average Grant Date Fair Value Per Share
Outstanding at beginning of period | $ / shares	$ 18.95
Granted | $ / shares	10.35
Vested | $ / shares	22.95
Forfeited | $ / shares	19.23
Outstanding at end of period | $ / shares	$ 18.61

Performance Units (Detail)

Performance Units (Detail)	3 Months Ended
	Mar. 31, 2019shares
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
2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target number of shares	185,000
2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target number of shares	190,600

Fair Value of Performance Units

Fair Value of Performance Units (Detail) - Performance Units Awards $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value at date of grant	$ 8,004
2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value at date of grant	5,780
2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value at date of grant	3,854
2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value at date of grant	$ 4,052

Compensation Expense Associated

Compensation Expense Associated with Performance Units (Detail) - Performance Units Awards - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense associated with Performance Units	$ 667
2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense associated with Performance Units	482	$ 482
2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense associated with Performance Units	$ 321	321
2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense associated with Performance Units		$ 338

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate	18.80%	(0.80%)

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted Net Loss per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
BASIC EPS:
Net loss attributed to common stockholders	$ (28,614)	$ (34,417)
Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock	211,868	220,783
Basic net loss per common share	$ (0.14)	$ (0.16)
DILUTED EPS:
Net loss attributed to common stockholders	$ (28,614)	$ (34,417)
Weighted average number of common shares outstanding, excluding non-vested shares of restricted stock	211,868	220,783
Weighted average number of diluted common shares outstanding	211,868	220,783
Diluted net loss per common share	$ (0.14)	$ (0.16)
Potentially dilutive securities excluded as anti-dilutive	10,033	9,738

Business Segments - Additional

Business Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019Segment
Segment Reporting [Abstract]
Number of reportable business segments	3

Business Segments - Revenues (D

Business Segments - Revenues (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		$ 704,171	$ 809,164
Contract Drilling
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		372,392	327,803
Pressure Pumping
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		247,601	406,784
Directional Drilling
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		52,959	48,616
Operating Segments | Contract Drilling
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		372,743	328,153
Operating Segments | Pressure Pumping
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		247,601	406,784
Operating Segments | Directional Drilling
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues		52,959	48,616
Other Operations
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues	[1]	35,391	29,653
Intersegment Elimination
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues	[2]	$ (4,523)	$ (4,042)
[1]	Other operations includes the Company’s oilfield rentals business, pipe handling components and related technology business, the electrical controls and automation business, the oil and natural gas working interests and Middle East/North Africa activities.
[2]	Intercompany revenues consists of contract drilling and revenues from other operations for services provided to contract drilling, pressure pumping and within other operations.

Business Segments - Income (Los

Business Segments - Income (Loss) Before Income Taxes (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)		$ (23,383)	$ (22,102)
Other operating income, net	[1]	8,736	2,421
Interest income		1,032	1,423
Interest expense		(12,984)	(13,625)
Other		117	169
Loss before income taxes		(35,218)	(34,135)
Corporate
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)		(23,697)	(23,807)
Operating Segments | Contract Drilling
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)		21,217	(17,103)
Operating Segments | Pressure Pumping
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)		(18,768)	25,389
Operating Segments | Directional Drilling
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)		(5,667)	(4,913)
Other Operations
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Operating income (loss)		$ (5,204)	$ (4,089)
[1]	Other operating income, net includes net gains associated with the disposal of assets related to corporate strategy decisions of the executive management group. Accordingly, the related gains have been excluded from the operating results of specific segments. This caption also includes certain legal-related expenses and settlements, net of insurance reimbursements.

Business Segments - Depreciatio

Business Segments - Depreciation, Depletion, Amortization and Impairment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Depreciation, depletion, amortization and impairment	$ 214,410	$ 209,892
Corporate
Segment Reporting Information [Line Items]
Depreciation, depletion, amortization and impairment	1,803	2,237
Operating Segments | Contract Drilling
Segment Reporting Information [Line Items]
Depreciation, depletion, amortization and impairment	130,317	130,917
Operating Segments | Pressure Pumping
Segment Reporting Information [Line Items]
Depreciation, depletion, amortization and impairment	60,135	56,522
Operating Segments | Directional Drilling
Segment Reporting Information [Line Items]
Depreciation, depletion, amortization and impairment	10,367	10,902
Other Operations
Segment Reporting Information [Line Items]
Depreciation, depletion, amortization and impairment	$ 11,788	$ 9,314

Business Segments - Capital Exp

Business Segments - Capital Expenditures (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Capital expenditures	$ 118,341	$ 122,921
Corporate
Segment Reporting Information [Line Items]
Capital expenditures	1,331	526
Operating Segments | Contract Drilling
Segment Reporting Information [Line Items]
Capital expenditures	75,725	75,247
Operating Segments | Pressure Pumping
Segment Reporting Information [Line Items]
Capital expenditures	31,400	24,923
Operating Segments | Directional Drilling
Segment Reporting Information [Line Items]
Capital expenditures	2,112	12,829
Other Operations
Segment Reporting Information [Line Items]
Capital expenditures	$ 7,773	$ 9,396

Business Segments - Identifiabl

Business Segments - Identifiable Assets (Detail) - USD ($) $ in Thousands		Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		$ 5,367,752	$ 5,469,866
Corporate
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	[1]	325,498	314,276
Operating Segments | Contract Drilling
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		3,725,627	3,817,638
Operating Segments | Pressure Pumping
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		894,357	921,237
Operating Segments | Directional Drilling
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		242,686	239,341
Other Operations
Segment Reporting Asset Reconciling Item [Line Items]
Total assets		$ 179,584	$ 177,374
[1]	Corporate assets primarily include cash on hand and certain property and

Estimated Fair Value of Outstan

Estimated Fair Value of Outstanding Debt Balances (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	$ 1,125,000	$ 1,125,000
Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	1,101,243	1,076,431
3.95% Senior Notes Due 2028 | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	525,000	525,000
3.95% Senior Notes Due 2028 | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	501,909	482,488
4.97% Series A Senior Notes, Due October 5th 2020 | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	300,000	300,000
4.97% Series A Senior Notes, Due October 5th 2020 | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	301,459	300,043
4.27% Series B Senior Notes, Due June 14th 2022 | Carrying Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	300,000	300,000
4.27% Series B Senior Notes, Due June 14th 2022 | Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt	$ 297,875	$ 293,900

Fair Values of Financial Inst_3

Fair Values of Financial Instruments - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Jan. 19, 2018	Jun. 14, 2012	Oct. 05, 2010
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	4.65%	5.07%
4.97% Series A Senior Notes, Due October 5th 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt interest rate					4.97%
Current market rates used in measuring fair value	4.63%	4.97%
4.27% Series B Senior Notes, Due June 14th 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt interest rate				4.27%
Current market rates used in measuring fair value	4.51%	4.92%