Quarterly report pursuant to Section 13 or 15(d)

Fresh Start Accounting - Footnotes (Details)

v3.19.2
Fresh Start Accounting - Footnotes (Details) - USD ($)
3 Months Ended 6 Months Ended
Apr. 01, 2019
Mar. 31, 2019
Mar. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Mar. 26, 2019
Jan. 22, 2014
Jul. 30, 2013
Fresh-Start Adjustment [Line Items]                  
Predecessor and Successor Successor Predecessor Successor            
Net change in cash and cash equivalents   $ 127,849,000 $ 51,777,000   $ 127,849,000        
Net change in other current assets   19,577,000 31,944,000   19,577,000        
Net change in other non-current assets   32,997,000 38,045,000   32,997,000        
Net change in accounts payable and accrued liabilities   135,583,000 134,461,000   135,583,000        
Liabilities subject to compromise   0 (600,996,000)   0        
Gain on settlement of liabilities subject to compromise       $ 0 191,129,000 $ 0      
Net change in predecessor capital in excess of par value   342,650,000 767,793,000   342,650,000        
Net change in successor common stock   150,000 1,398,000   150,000        
Net change in accumulated deficit     (681,246,000)            
Intangible assets, net   18,000,000 4,245,000   18,000,000        
Customer relationships                  
Fresh-Start Adjustment [Line Items]                  
Intangible assets, net   16,300,000 0   16,300,000        
Trade names                  
Fresh-Start Adjustment [Line Items]                  
Intangible assets, net   1,500,000 368,000   1,500,000        
Developed technology                  
Fresh-Start Adjustment [Line Items]                  
Intangible assets, net   200,000 3,877,000   200,000        
Successor credit facility                  
Fresh-Start Adjustment [Line Items]                  
Aggregate principal amount   210,000,000     210,000,000   $ 210,000,000.0    
Debt instrument fixed interest rate             13.00%    
Predecessor 7.50% senior notes, due August 2020                  
Fresh-Start Adjustment [Line Items]                  
Aggregate principal amount                 $ 225,000,000.0
Debt instrument fixed interest rate       7.50%         7.50%
Predecessor 6.75% senior notes, due July 2022                  
Fresh-Start Adjustment [Line Items]                  
Aggregate principal amount               $ 360,000,000.0  
Debt instrument fixed interest rate       6.75%       6.75%  
Reorganization Adjustments                  
Fresh-Start Adjustment [Line Items]                  
Proceeds from the rights offering   95,000,000     95,000,000        
Transfers from restricted cash for the return of cash collateral (for letters of credit)   10,433,000     10,433,000        
Proceeds from refund of backstop commitment fee   7,600,000     7,600,000        
Transfers from restricted cash for deposit releases   250,000     250,000        
Transfers to restricted cash for funding of professional fees   (21,049,000)     (21,049,000)        
Payment of debtor in possession financing principal and interest   (10,035,000)     (10,035,000)        
Payment of professional fees   (5,154,000)     (5,154,000)        
Payment of debt issuance costs for the successor credit facility   (490,000)     (490,000)        
Payment of fees on letters of credit   (58,000)     (58,000)        
Payment of term loan agent fees   (50,000)     (50,000)        
Payment of other reorganization expenses   (375,000)     (375,000)        
Net change in cash and cash equivalents   76,072,000     76,072,000        
Refund of backstop commitment fee   (7,600,000)     (7,600,000)        
Elimination of predecessor directors and officers insurance policies   (702,000)     (702,000)        
Reclass of prepaid costs related to the successor credit facility   (488,000)     (488,000)        
Payment of other costs related to the successor credit facility   26,000     26,000        
Net change in other current assets   (8,764,000)     (8,764,000)        
Capitalization of debt issuance costs on the successor credit facility   765,000     765,000        
Reclass of prepaid costs related to the successor credit facility   488,000     488,000        
Net change in other non-current assets   1,253,000     1,253,000        
Accrual of professional fees   7,100,000     7,100,000        
Payment of professional fees   (2,017,000)     (2,017,000)        
Payment of debtor in possession financing interest   (35,000)     (35,000)        
Payment of letters of credit fees   (58,000)     (58,000)        
Net change in accounts payable and accrued liabilities   4,990,000     4,990,000        
Liabilities subject to compromise   600,996,000     600,996,000        
Issuance of successor common stock to the 7.50% note holders and 6.75% note holders   175,058,000     175,058,000        
Excess fair value ascribed to lenders participating in equity rights offering   24,809,000     24,809,000        
Gain on settlement of liabilities subject to compromise         (191,129,000)        
Cancellation of predecessor preferred stock     500,000            
Cancellation of predecessor preferred stock     1,398,000            
Issuance of successor warrants to predecessor common stock and predecessor preferred stock holders     (14,687,000)            
Issuance of successor common stock to predecessor common stock and predecessor preferred stock holders     (4,950,000)            
Excess fair value ascribed to parties participating in rights offering, excluding lenders     (18,100,000)            
Net change in predecessor capital in excess of par value   342,650,000 (35,839,000)   342,650,000        
Issuance of successor common stock to the 7.50% note holders and 6.75% note holders   80,000     80,000        
Issuance of successor common stock pursuant to rights offering   68,000     68,000        
Issuance of successor common stock to predecessor common stock and predecessor preferred stock holders   2,000     2,000        
Net change in successor common stock   150,000 $ (1,398,000)   150,000        
Issuance of successor common stock to the 7.50% note holders and 6.75% note holders   174,978,000     174,978,000        
Issuance of successor common stock pursuant to rights offering   148,874,000     148,874,000        
Issuance of successor warrants to predecessor common stock and predecessor preferred stock holders   14,687,000     14,687,000        
Issuance of successor common stock to predecessor common stock and predecessor preferred stock holders   4,948,000     4,948,000        
Equity issuance costs   (837,000)     (837,000)        
Gain on settlement of liabilities subject to compromise   191,129,000     191,129,000        
Backstop premium on rights offering   (11,032,000)     (11,032,000)        
Accrual of professional fees   (5,988,000)     (5,988,000)        
Payment of professional fees   (3,137,000)     (3,137,000)        
Elimination of predecessor directors and officers insurance policies   (702,000)     (702,000)        
Payment of other reorganization items   (400,000)     (400,000)        
Net change in accumulated deficit   169,870,000     169,870,000        
Intangible assets, net   0     0        
Fresh Start Adjustments                  
Fresh-Start Adjustment [Line Items]                  
Net change in cash and cash equivalents   0     0        
Net change in other current assets   (3,603,000)     (3,603,000)        
Net change in other non-current assets   (6,301,000)     (6,301,000)        
Net change in accounts payable and accrued liabilities   (3,868,000)     (3,868,000)        
Liabilities subject to compromise   0     0        
Net change in predecessor capital in excess of par value   (731,954,000)     (731,954,000)        
Net change in accumulated deficit   511,376,000     511,376,000        
Intangible assets, net   13,755,000     13,755,000        
Fair value adjustment to rig material and supplies   (6,845,000)     (6,845,000)        
Fair value adjustment to investment in non-consolidated subsidiaries   2,290,000     2,290,000        
Fair value adjustment to long-term notes receivable   (272,000)     (272,000)        
Elimination of capitalized mobilization costs   (857,000)     (857,000)        
Elimination of long-term other deferred charges   (617,000)     (617,000)        
Elimination of deferred rent   (1,100,000)     (1,100,000)        
Elimination of deferred revenue   (2,768,000)     (2,768,000)        
Net change in accounts payable and accrued liabilities   $ (3,868,000)     $ (3,868,000)