v3.19.1
CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 127,849,000 $ 48,602,000
Restricted cash 21,436,000 10,389,000
Accounts and notes receivable, net of allowance for bad debts of $0 at March 31, 2019 and $7,767 at December 31, 2018 168,444,000 136,437,000
Rig materials and supplies 17,839,000 36,245,000
Other current assets 19,577,000 35,231,000
Total current assets 355,145,000 266,904,000
Property, plant and equipment, net of accumulated depreciation of $0 at March 31, 2019 and $951,798 at December 31, 2018 303,970,000 534,371,000
Intangible assets, net (Note 4) 18,000,000 4,821,000
Deferred income taxes 4,269,000 2,143,000
Other non-current assets 32,997,000 20,175,000
Total assets 714,381,000 828,414,000
Current liabilities:    
Debtor in possession financing (Note 2) 0 10,000,000
Accounts payable and accrued liabilities 135,583,000 75,063,000
Accrued income taxes 5,013,000 3,385,000
Total current liabilities 140,596,000 88,448,000
Long-term debt (Note 6) 210,000,000 0
Other long-term liabilities 20,035,000 11,544,000
Long-term deferred tax liability 950,000 510,000
Commitments and contingencies (Note 9)
Total liabilities not subject to compromise 371,581,000 100,502,000
Liabilities subject to compromise (Note 2) 0 600,996,000
Total liabilities 371,581,000 701,498,000
Stockholders' equity:    
Predecessor preferred stock, $1.00 par value, 1,942,000 shares authorized, 500,000 shares issued and outstanding   500,000
Predecessor common stock, $0.16 2/3 par value, 18,666,667 shares authorized, 9,385,060 shares issued and outstanding (9,384,669 shares issued and outstanding in 2018)   1,398,000
Predecessor capital in excess of par value   766,347,000
Predecessor accumulated other comprehensive income (loss)   (6,879,000)
Successor common stock, $0.01 par value, 500,000,000 shares authorized, 15,044,374 shares issued and outstanding 150,000  
Successor capital in excess of par value 342,650,000  
Accumulated deficit 0 (634,450,000)
Total stockholders’ equity 342,800,000 126,916,000
Total liabilities and stockholders’ equity $ 714,381,000 $ 828,414,000

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