Pay vs Performance Disclosure | 12 Months Ended |
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Pay vs Performance Disclosure [Table] | | | |
Pay vs Performance [Table Text Block] | 2022 Pay Versus Performance As required by Item 402(v) of Regulation S-K, ar y Value of Initial Fixed $100 Investment Based on: Year Summary Compensation Summary Compensation Average Non-PEO NEOs Average Non-PEO Total Peer Group Net Income (millions)($)(8) Adjusted (millions) 2022 3,698,422 12,598,202 — — 1,338,787 2,452,251 138.67 108.19 (103 ) 35 2021 8,203,466 1,926,806 9,099,682 9,099,682 2,617,028 1,570,805 — — (2,139 ) (323 ) 2020 — — 7,077,198 4,309,224 1,471,624 1,167,621 — — (1,255 ) (823 ) (1) During 2022, our CEO was Bernie Wolford, Jr. Mr. Wolford (2) The adjustments for calculating Compensation Actually Paid to Mr. Wolford are as follows: Adjustments to Determine Compensation Actually Paid to Bernie Wolford, Jr. 2022 2021 2020 Summary Compensation Table (or SCT) Total for PEO 3,698,422 8,203,466 — Deduction for Amounts Reported under the Stock Awards Column in our SCT (2,348,784 ) (7,303,326 ) — Increase for Fair Value as of Year-end 4,037,524 684,444 — Increase for Fair Value as of the Vesting Date of Awards Granted during the Year that Vest during the Year — 342,222 — Increase/deduction for Change in Fair Value from prior Year-end Year-end Year-end 743,996 — — Increase/deduction for Change in Fair Value from prior Year-end 6,467,045 — — Total Adjustments 8,899,780 (6,276,660 ) — Compensation Actually Paid to PEO 12,598,202 1,926,806 — (3) During 2020 and until his resignation on April 23, 2021, our CEO was Marc Edwards. (4) The adjustments for calculating Compensation Actually Paid t o Adjustments to Determine Compensation Actually Paid to Marc Edwards 2022 2021 2020 SCT Total for PEO — 9,099,682 7,077,198 Increase/deduction for Change in Fair Value from prior Year-end — — (748,109 ) Deduction of Fair Value of Awards Granted Prior to the Year that were Forfeited during the Year — — (2,019,865 ) Total Adjustments — — (2,767,974 ) Compensation Actually Paid to PEO — 9,099,682 4,309,224 (5) During 2022, our non-PEO Dominic A. Savarino David L. Roland non-PEO (6) The adjustments for calculating Average Compensation Actually Paid to the non-PEO Adjustments to Determine Average Compensation Actually Paid to Non-PEO 2022 2021 2020 Average SCT Total for Non-PEO NEOs 1,338,787 2,617,028 1,471,624 Deduction for Amounts Reported under the Stock Awards Column in the SCT (1,247,791 ) (5,579,061 ) — Increase for Fair Value as of Year-end 2,144,932 1,394,168 Increase/deduction for Change in Fair Value from prior Year-end Year-end Year-end 1,162,803 — — Increase/deduction for Change in Fair Value from prior Year-end 166,984 — (257,297 ) Deduction of Fair Value of Awards Granted Prior to the Year that were Forfeited during the Year — — (958,715 ) Total Adjustments 2,226,928 (4,184,893 ) (1,216,012 ) Number of Non-PEO NEOs 2 4 4 Average Adjustment per Non-PEO NEO 1,113,464 (1,046,223 ) (304,003 ) Average Compensation Actually Paid to Non-PEO NEOs 2,452,251 1,570,805 1,167,621 (7) The calculation is based on a fixed investment of $100 from the beginning of the measurement period, assuming reinvestment of dividends. In the above table, we used the Dow Jones U.S. Oil Equipment & Services Index for our Peer Group Total Shareholder Return. Prior to filing for Chapter 11 reorganization on April 26, 2020, our common stock traded on the NYSE. As a result of our Chapter 11 filing, the NYSE removed our common stock from trading on April 27, 2020, and then delisted our common stock. Upon our emergence from Chapter 11 reorganization on April 23, 2021, our common stock outstanding immediately before our emergence was canceled and our new post-emergence common stock was not registered under Section 12 of the Exchange Act. We relisted our new post-emergence common stock on the NYSE effective March 30, 2022. As a result, our Total Shareholder Return and Peer Group Total Shareholder Return for 2022 in the above table is limited to the period from March 30, 2022 through December 31, 2022 and we cannot report a Total Shareholder Return for 2021 or 2020. To ensure a consistent comparison, we also limited the Peer Group Total Shareholder Return for 2022 in the above table to the period from March 30, 2022 through December 31, 2022 and we did not report a Peer Group Total Shareholder Return for 2021 or 2020. (8) We emerged from our Chapter 11 reorganization on April 23, 2021. Upon emergence from bankruptcy, we met the criteria for and were required to adopt fresh start accounting in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 852, Reorganizations Joint Plan, 10-K (9) See Footnote (8) above regarding adoption of fresh start accounting after our emergence from our Chapter 11 reorganization on April 23, 2021. The Predecessor’s adjusted earnings before interest, taxes, depreciation and amortization (or Adjusted EBITDA) in 2021 was $(239,787,000), and the Successor’s Adjusted EBITDA in 2021 was $(83,700,000). For purposes of reporting Adjusted EBITDA for 2021 in the above table, we have combined the Adjusted EBITDA of the Predecessor in 2021 with the Adjusted EBITDA of the Successor in 2021. Adjusted EBITDA is a financial measure that does not conform with generally accepted accounting principles in the United States (or GAAP). We believe that this non-GAAP Reconciliation of Loss Before Income Tax Benefit (Expense) to Adjusted EBITDA (in thousands) Successor Successor Predecessor Combined Predecessor Year Ended Period Period Year Ended Year Ended As reported Loss Before Income Tax (Expense) Benefit (105,606 ) (175,690 ) (2,001,393 ) (2,177,083 ) (1,276,090 ) Interest expense 40,423 26,180 34,827 61,007 42,585 Interest income (18 ) (3 ) (30 ) (33 ) (484 ) Foreign currency transaction gain 3,023 997 172 1,169 4,498 Depreciation 103,478 68,504 92,758 161,262 320,085 Gain on disposition of assets (4,895 ) (1,024 ) (5,486 ) (6,510 ) (7,375 ) Other, net (1,267 ) (10,752 ) (398 ) (11,150 ) (560 ) Restructuring and separation costs — — — — 17,724 Reorganization costs — 8,088 1,639,763 1,647,851 76,910 Adjusted EBITDA 35,138 (83,700 ) (239,787 ) (323,487 ) (822,707 ) | | |
Company Selected Measure Name | Adjusted EBITDA | | |
Named Executive Officers, Footnote [Text Block] | During 2022, our non-PEO Dominic A. Savarino David L. Roland non-PEO | | |
Peer Group Issuers, Footnote [Text Block] | Upon our emergence from Chapter 11 reorganization on April 23, 2021, our common stock outstanding immediately before our emergence was canceled and our new post-emergence common stock was not registered under Section 12 of the Exchange Act. We relisted our new post-emergence common stock on the NYSE effective March 30, 2022. As a result, our Total Shareholder Return and Peer Group Total Shareholder Return for 2022 in the above table is limited to the period from March 30, 2022 through December 31, 2022 and we cannot report a Total Shareholder Return for 2021 or 2020. To ensure a consistent comparison, we also limited the Peer Group Total Shareholder Return for 2022 in the above table to the period from March 30, 2022 through December 31, 2022 and we did not report a Peer Group Total Shareholder Return for 2021 or 2020. | | |
Adjustment To PEO Compensation, Footnote [Text Block] | Adjustments to Determine Compensation Actually Paid to Bernie Wolford, Jr. 2022 2021 2020 Summary Compensation Table (or SCT) Total for PEO 3,698,422 8,203,466 — Deduction for Amounts Reported under the Stock Awards Column in our SCT (2,348,784 ) (7,303,326 ) — Increase for Fair Value as of Year-end 4,037,524 684,444 — Increase for Fair Value as of the Vesting Date of Awards Granted during the Year that Vest during the Year — 342,222 — Increase/deduction for Change in Fair Value from prior Year-end Year-end Year-end 743,996 — — Increase/deduction for Change in Fair Value from prior Year-end 6,467,045 — — Total Adjustments 8,899,780 (6,276,660 ) — Compensation Actually Paid to PEO 12,598,202 1,926,806 — Adjustments to Determine Compensation Actually Paid to Marc Edwards 2022 2021 2020 SCT Total for PEO — 9,099,682 7,077,198 Increase/deduction for Change in Fair Value from prior Year-end — — (748,109 ) Deduction of Fair Value of Awards Granted Prior to the Year that were Forfeited during the Year — — (2,019,865 ) Total Adjustments — — (2,767,974 ) Compensation Actually Paid to PEO — 9,099,682 4,309,224 | | |
Non-PEO NEO Average Total Compensation Amount | $ 1,338,787 | $ 2,617,028 | $ 1,471,624 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 2,452,251 | 1,570,805 | 1,167,621 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Adjustments to Determine Average Compensation Actually Paid to Non-PEO 2022 2021 2020 Average SCT Total for Non-PEO NEOs 1,338,787 2,617,028 1,471,624 Deduction for Amounts Reported under the Stock Awards Column in the SCT (1,247,791 ) (5,579,061 ) — Increase for Fair Value as of Year-end 2,144,932 1,394,168 Increase/deduction for Change in Fair Value from prior Year-end Year-end Year-end 1,162,803 — — Increase/deduction for Change in Fair Value from prior Year-end 166,984 — (257,297 ) Deduction of Fair Value of Awards Granted Prior to the Year that were Forfeited during the Year — — (958,715 ) Total Adjustments 2,226,928 (4,184,893 ) (1,216,012 ) Number of Non-PEO NEOs 2 4 4 Average Adjustment per Non-PEO NEO 1,113,464 (1,046,223 ) (304,003 ) Average Compensation Actually Paid to Non-PEO NEOs 2,452,251 1,570,805 1,167,621 | | |
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | | | |
Compensation Actually Paid vs. Net Income [Text Block] | | | |
Compensation Actually Paid vs. Company Selected Measure [Text Block] | | | |
Tabular List [Table Text Block] | Most Important Financial Performance Measures for Our NEOs Adjusted EBITDA Relative Total Shareholder Return Stock Price Appreciation | | |
Total Shareholder Return Amount | $ 138.67 | 0 | 0 |
Peer Group Total Shareholder Return Amount | 108.19 | 0 | 0 |
Net Income (Loss) | $ (103,000,000) | $ (2,139,000,000) | $ (1,255,000,000) |
Company Selected Measure Amount | 35,000,000 | (323,000,000) | (823,000,000) |
PEO Name | Bernie Wolford, Jr. Mr. Wolford | | Marc Edwards |
Measure [Axis]: 1 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | Adjusted EBITDA | | |
Non-GAAP Measure Description [Text Block] | Adjusted EBITDA is a financial measure that does not conform with generally accepted accounting principles in the United States (or GAAP). We | | |
Measure [Axis]: 2 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | Relative Total Shareholder Return | | |
Measure [Axis]: 3 | | | |
Pay vs Performance Disclosure [Table] | | | |
Measure Name | Stock Price Appreciation | | |
Bernie Wolford, Jr. Mr. Wolford [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
PEO Total Compensation Amount | $ 3,698,422 | $ 8,203,466 | $ 0 |
PEO Actually Paid Compensation Amount | 12,598,202 | 1,926,806 | 0 |
Marc Edwards [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
PEO Total Compensation Amount | 0 | 9,099,682 | 7,077,198 |
PEO Actually Paid Compensation Amount | 0 | 9,099,682 | 4,309,224 |
PEO [Member] | Bernie Wolford, Jr. Mr. Wolford [Member] | Deduction for Amounts Reported under the Stock Awards Column [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | (2,348,784) | (7,303,326) | |
PEO [Member] | Bernie Wolford, Jr. Mr. Wolford [Member] | Increase for Fair Value as of Year End of Awards Granted during the Year that Remain Unvested [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 4,037,524 | 684,444 | |
PEO [Member] | Bernie Wolford, Jr. Mr. Wolford [Member] | Increase for Fair Value as of the Vesting Date of Awards Granted during the Year that Vest [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | 342,222 | |
PEO [Member] | Bernie Wolford, Jr. Mr. Wolford [Member] | Increase Deduction for Change in Fair Value from prior Year End to current Yearend of Awards Granted Prior to the Year that were Outstanding and Unvested [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 743,996 | | |
PEO [Member] | Bernie Wolford, Jr. Mr. Wolford [Member] | Increase Deduction for Change in Fair Value from prior Year End to Vesting Date [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 6,467,045 | | |
PEO [Member] | Bernie Wolford, Jr. Mr. Wolford [Member] | Total Adjustments [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 8,899,780 | (6,276,660) | |
PEO [Member] | Marc Edwards [Member] | Increase Deduction for Change in Fair Value from prior Year End to Vesting Date [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | | (748,109) |
PEO [Member] | Marc Edwards [Member] | Deduction of Fair Value of Awards Granted Prior to the Year that were Forfeited [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | | (2,019,865) |
PEO [Member] | Marc Edwards [Member] | Total Adjustments [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | | (2,767,974) |
Non-PEO NEO [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | $ 1,113,464 | $ (1,046,223) | $ (304,003) |
Number of Non PEO | 2 | 4 | 4 |
Non-PEO NEO [Member] | Deduction for Amounts Reported under the Stock Awards Column [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | $ (1,247,791) | $ (5,579,061) | |
Non-PEO NEO [Member] | Increase for Fair Value as of Year End of Awards Granted during the Year that Remain Unvested [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 2,144,932 | 1,394,168 | |
Non-PEO NEO [Member] | Increase Deduction for Change in Fair Value from prior Year End to current Yearend of Awards Granted Prior to the Year that were Outstanding and Unvested [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 1,162,803 | | |
Non-PEO NEO [Member] | Increase Deduction for Change in Fair Value from prior Year End to Vesting Date [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | 166,984 | | $ (257,297) |
Non-PEO NEO [Member] | Deduction of Fair Value of Awards Granted Prior to the Year that were Forfeited [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | | | (958,715) |
Non-PEO NEO [Member] | Total Adjustments [Member] | | | |
Pay vs Performance Disclosure [Table] | | | |
Adjustment to Compensation Amount | $ 2,226,928 | $ (4,184,893) | $ (1,216,012) |