0000886835-21-000003 | 10-K | XBRL Viewer | Superior Energy Services INC

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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2020	Mar. 24, 2021
Document And Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-34037
Entity Registrant Name	SUPERIOR ENERGY SERVICES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2379388
Entity Address, Address Line One	1001 Louisiana Street
Entity Address, Address Line Two	Suite 2900
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	654-2200
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float	$ 0
Entity Common Stock, Shares Outstanding		19,967,898
Documents Incorporated by Reference [Text Block]	DOCUMENTS INCORPORATED BY REFERENCE Not applicable.
Entity Central Index Key	0000886835
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 188,006	$ 272,624
Accounts receivable, net of allowance for doubtful accounts of $24,629 and $12,156 at December 31, 2020 and 2019, respectively	183,964	332,047
Income taxes receivable	8,891	740
Prepaid expenses	36,651	49,132
Inventory and other current assets	96,141	117,629
Assets held for sale	47,635	216,197
Total current assets	561,288	988,369
Property, plant and equipment, net of accumulated depreciation and depletion	542,090	664,949
Operating lease right-of-use assets	50,192	80,906
Goodwill	138,677	137,695
Notes receivable	72,612	68,092
Restricted cash	80,178	2,764
Intangible and other long-term assets, net of accumulated amortization	56,042	50,455
Total assets	1,501,079	1,993,230
Current liabilities:
Accounts payable	55,873	92,966
Accrued expenses	130,332	182,934
Current portion of decommissioning liabilities	3,765	3,649
Liabilities held for sale	4,079	44,938
Total current liabilities	194,049	324,487
Long-term debt, net		1,286,629
Decommissioning liabilities	138,981	132,632
Operating lease liabilities	40,258	62,354
Deferred income taxes	5,288	3,247
Other long-term liabilities	125,356	134,308
Total liabilities not subject to compromise	503,932	1,943,657
Liabilities Subject to Compromise	1,335,794
Stockholders’ equity (deficit):
Preferred stock of $0.01 par value, Authorized - 5,000,000 shares; none issued
Common stock of $0.001 par value Authorized - 25,000,000, Issued - 15,799,318, Outstanding - 14,826,906 at December 31, 2020 Authorized - 25,000,000, Issued - 15,689,463, Outstanding - 14,717,051 at December 31, 2019	16	16
Additional paid in capital	2,756,889	2,752,859
Treasury stock at cost, 972,412 shares at December 31, 2020 and 2019, respectively	(4,290)	(4,290)
Accumulated other comprehensive loss, net	(67,947)	(71,927)
Accumulated deficit	(3,023,315)	(2,627,085)
Total stockholders’ equity (deficit)	(338,647)	49,573
Total liabilities and stockholders’ equity (deficit)	$ 1,501,079	$ 1,993,230

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Consolidated Balance Sheets [Abstract]
Allowance for doubtful accounts	$ 24,629	$ 12,156
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	15,799,318	15,689,463
Common stock, shares outstanding	14,826,906	14,717,051
Treasury stock at cost, shares	972,412	972,412

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total revenues	$ 851,307	$ 1,425,369	$ 1,478,857
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	580,129	925,082	970,488
Depreciation, depletion, amortization and accretion	146,793	196,459	278,439
General and administrative expenses	222,465	268,226	276,468
Restructuring expense	47,055
Reduction in value of assets	26,897	17,185	322,713
Income (loss) from operations	(172,032)	18,417	(369,251)
Other income (expense):
Interest expense, net (contractual interest $95.8 million)	(92,399)	(98,312)	(99,477)
Reorganization expenses	(21,616)
Other income (expense)	(9,229)	(2,484)	(1,678)
Loss from continuing operations before income taxes	(295,276)	(82,379)	(470,406)
Income taxes	(13,928)	(4,626)	(43,003)
Net loss from continuing operations	(281,348)	(77,753)	(427,403)
Loss from discontinued operations, net of income tax	(114,882)	(177,968)	(430,712)
Net loss	$ (396,230)	$ (255,721)	$ (858,115)
Basic and diluted loss per share:
Net loss from continuing operations	$ (18.98)	$ (5.05)	$ (27.69)
Loss from discontinued operations	(7.75)	(11.56)	(27.90)
Net loss	$ (26.73)	$ (16.61)	$ (55.59)
Weighted average shares outstanding	14,822	15,393	15,437
Services [Member]
Revenues:
Total revenues	$ 467,548	$ 885,252	$ 933,029
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	388,319	698,150	699,322
Depreciation, depletion, amortization and accretion	80,334	121,805	175,417
Rentals [Member]
Revenues:
Total revenues	241,232	376,247	380,296
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	102,571	128,695	136,135
Depreciation, depletion, amortization and accretion	41,003	59,189	71,661
Product Sales [Member]
Revenues:
Total revenues	142,527	163,870	165,532
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	89,239	98,237	135,031
Depreciation, depletion, amortization and accretion	$ 25,456	$ 15,465	$ 31,361

Consolidated Statements Of Operations (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Consolidated Statements of Operations [Abstract]
Contractual interest expense	$ 95.8

Consolidated Statements Of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated Statements of Comprehensive Loss [Abstract]
Net loss	$ (396,230)	$ (255,721)	$ (858,115)
Change in cumulative translation adjustment, net of tax	3,980	1,250	(5,750)
Comprehensive loss	$ (392,250)	$ (254,471)	$ (863,865)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements Of Changes In Stockholders' Equity (Deficit) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss, Net [Member]	Accumulated Deficit [Member]	Total
Beginning balance, value at Dec. 31, 2017	$ 153,000	$ 2,713,161,000		$ (67,427,000)	$ (1,513,458,000)	$ 1,132,429,000
Beginning balance, shares at Dec. 31, 2017	153,263,097
Net loss					(858,115,000)	(858,115,000)
Foreign currency translation adjustment				(5,750,000)		(5,750,000)
Forfeited dividends					209,000	209,000
Stock-based compensation expense, net of forfeitures		24,076,000				24,076,000
Transactions under stock plans	$ 2,000	(5,200,000)				(5,198,000)
Transactions under stock plans, shares	1,071,371
Shares issued under Employee Stock Purchase Plan, value		3,088,000				3,088,000
Shares issued under Employee Stock Purchase Plan, shares	550,950
Ending balance, value at Dec. 31, 2018	$ 155,000	2,735,125,000		(73,177,000)	(2,371,364,000)	290,739,000
Ending balance, shares at Dec. 31, 2018	154,885,418
Net loss					(255,721,000)	(255,721,000)
Foreign currency translation adjustment				1,250,000		1,250,000
Purchases of treasury stock			$ (4,290,000)			(4,290,000)
Stock-based compensation expense, net of forfeitures		18,459,000				18,459,000
Transactions under stock plans	$ 2,000	(1,677,000)				(1,675,000)
Transactions under stock plans, shares	1,187,961
Shares issued under Employee Stock Purchase Plan, value	$ 532,292	811,000				$ 811,000
Shares issued under Employee Stock Purchase Plan, shares						550,950
1-for-10 Reverse Stock Split	$ (141,000)	141,000
1-for-10 Reverse Stock Split, shares	(140,916,208)
Ending balance, value at Dec. 31, 2019	$ 16,000	2,752,859,000	(4,290,000)	(71,927,000)	(2,627,085,000)	$ 49,573,000
Ending balance, shares at Dec. 31, 2019	15,689,463
Net loss					(396,230,000)	(396,230,000)
Foreign currency translation adjustment				3,980,000		3,980,000
Stock-based compensation expense, net of forfeitures		4,238,000				4,238,000
Transactions under stock plans		(208,000)				$ (208,000)
Transactions under stock plans, shares	109,855
Shares issued under Employee Stock Purchase Plan, shares						532,292
Ending balance, value at Dec. 31, 2020	$ 16,000	$ 2,756,889,000	$ (4,290,000)	$ (67,947,000)	$ (3,023,315,000)	$ (338,647,000)
Ending balance, shares at Dec. 31, 2020	15,799,318

Consolidated Statements Of Changes In Stockholders' Equity (Deficit) (Parenthetical)	12 Months Ended
	Dec. 31, 2019
Consolidated Statements Of Changes In Stockholders' Equity (Deficit) [Abstract]
Stock split, conversion ratio	0.1

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (396,230)	$ (255,721)	$ (858,115)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	146,793	271,410	400,848
Deferred income taxes	2,041	3,247	(61,058)
Reduction in value of assets	26,897	17,186	322,714
Reduction in value of assets held for sale	114,213	76,577	417,011
Right-of-use assets amortization	20,224	20,613
Stock-based compensation expense	2,628	19,814	31,451
Bad debt	12,473	76	(16,957)
Reorganization items	18,087
Other reconciling items, net	(8,309)	(16,023)	(9,545)
Changes in operating assets and liabilities:
Accounts receivable	111,948	104,462	(33,159)
Inventory and other current assets	27,933	(6,137)	(7,559)
Accounts payable	(35,170)	(12,278)	8,912
Accrued expenses	(18,154)	(37,482)	(21,113)
Other, net	(23,157)	(39,316)	(8,373)
Net cash provided by operating activities	2,217	146,428	165,057
Cash flows from investing activities:
Payments for capital expenditures	(47,653)	(140,465)	(221,370)
Proceeds from sales of assets	50,039	110,008	33,299
Net cash provided by (used in) investing activities	2,386	(30,457)	(188,071)
Cash flows from financing activities:
Delayed draw term loan commitment fee	(12,000)
Debtor in possession credit facility costs	(1,554)
Purchases of treasury stock		(4,290)
Tax withholdings for vested restricted stock units	(208)	(1,677)	(5,199)
Other	(432)	675	2,613
Net cash used in financing activities	(14,194)	(5,292)	(2,586)
Effect of exchange rate changes on cash	2,387	961	(3,135)
Net change in cash, cash equivalents, and restricted cash	(7,204)	111,640	(28,735)
Cash, cash equivalents, and restricted cash at beginning of period	275,388	163,748	192,483
Cash, cash equivalents, and restricted cash at end of period	268,184	275,388	163,748
Cash Payments:
Interest paid	72,558	99,585	101,056
Income taxes paid (net of income tax refunds received)	(27,345)	5,354	3,137
Non-cash investing activity:
Capital expenditures included in accounts payable and accrued expenses	$ 7,403	$ 10,567	$ 26,259

Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Summary Of Significant Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

(1) Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements include the accounts of Superior Energy Services, Inc. and its subsidiaries (the Company). All significant intercompany accounts and transactions are eliminated in consolidation. Certain previously reported amounts have been reclassified to conform to the 2020 presentation.

Business

The Company provides a wide variety of services and products to the energy industry. The Company serves major, national and independent oil and natural gas companies around the world and offers products and services with respect to the various phases of a well’s economic life cycle. The Company reports its operating results in four business segments: Drilling Products and Services; Onshore Completion and Workover Services; Production Services; and Technical Solutions. The Company also provides supplemental segment revenue information in three geographic areas: U.S. land; U.S. offshore; and International.

Chapter 11 Cases

Chapter 11 Accounting

The consolidated financial statements included herein have been prepared as if we were a going concern and in accordance with FASB ASC Topic No. 852 - Reorganizations.

Weak industry conditions in 2020 negatively impacted Superior Energy Services, Inc.’s (the Former Parent, which is now known as SESI Holdings, Inc.) results of operations and cash flows and may continue to do so in the future. In order to decrease the Former Parent’s level of indebtedness and maintain the Former Parent’s liquidity at levels sufficient to meet its commitments, the Former Parent undertook a number of actions, including minimizing capital expenditures and further reducing its recurring operating expenses. The Former Parent believed that even after taking these actions, it would not have sufficient liquidity to satisfy its debt service obligations and meet its other financial obligations. As a result, on December 7, 2020 (the Petition Date) the Affiliate Debtors (as defined in Note 2 – Chapter 11 Reorganization) filed petitions for reorganization under Chapter 11 of Title 11 of the United States Code (the Bankruptcy Code). On February 2, 2021 (the Effective Date), the conditions to effectiveness of the proposed Joint Prepackaged Plan of Reorganization under the Bankruptcy Code (as amended, modified or supplemented from time to time, the Plan) were satisfied or waived and the Company emerged from bankruptcy.

Restructuring expenses

Any expenses, gains and losses that are realized or incurred before the Petition Date and in relation to the Chapter 11 proceedings are recorded under restructuring expenses on the Company’s consolidated statements of operations. Restructuring expenses were $47.1 million for the year ended December 31, 2020, which primarily consisted of professional fees related to the Chapter 11 proceedings and the RSA premium paid to noteholders that were party to the restructuring support agreement with the Former Parent.

Reorganization expenses

The Former Parent incurred costs after the Petition Date associated with the reorganization, primarily unamortized debt issuance costs, expenses related to rejected leases and postpetition professional fees. In accordance with applicable guidance, costs associated with the bankruptcy proceedings have been recorded as reorganization items within the accompanying consolidated statement of operations for the year ended December 31, 2020. Reorganization expenses were $21.6 million for the year ended December 31, 2020, with $1.6 million and $1.0 million representing cash used in financing and operating activities, respectively, during 2020.

Reorganization expenses were $21.6 million for the year ended December 31, 2020, which consisted of:


	December 31, 2020
7.125% Senior unsecured notes - unamortized debt issuance costs	$	2,160
7.750% Senior unsecured notes - unamortized debt issuance costs		5,644
Credit facility - unamortized debt issuance costs		2,172
Debtor in possession credit facility costs		1,554
Rejected leases		8,601
Professional fees		1,485
Total	$	21,616

Liabilities subject to compromise

Prepetition unsecured and under-secured obligations that may be impacted by the Chapter 11 Cases have been classified as liabilities subject to compromise on the Company’s consolidated balance sheet. These liabilities are reported at the amounts allowed as claims by the Bankruptcy Court.

Liabilities subject to compromise as of December 31, 2020 were $1,335.8 million, which consisted of:


	December 31, 2020
7.125% Senior unsecured notes due 2021	$	800,000
7.750% Senior unsecured notes due 2024		500,000
Accrued interest on senior notes		35,794
Total	$	1,335,794

The principal balance on the 7.125% senior unsecured notes due 2021 (the 7.125% Notes) and the 7.750% senior unsecured notes due 2024 (the 7.750% Notes) of $800.0 million and $500.0 million, respectively, has been reclassified from long-term debt to liabilities subject to compromise as of December 31, 2020. See also Note 6 - Debt for further details. Accrued interest on the 7.125% Notes and the 7.750% Notes, respectively, was also reclassified from accrued expenses to liabilities subject to compromise as of December 31, 2020.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Major Customers and Concentration of Credit Risk

The majority of the Company’s business is conducted with major and independent oil and gas companies. The Company evaluates the financial strength of its customers and provides allowances for probable credit losses when deemed necessary.

The market for the Company’s services and products is the oil and gas industry in the U.S. land and Gulf of Mexico areas and select international market areas. Oil and gas companies make capital expenditures on exploration, development and production operations. The level of these expenditures historically has been characterized by significant volatility.

The Company derives a large amount of revenue from a small number of major and independent oil and gas companies. There were no customers that exceeded 10% of the Former Parent’s total revenues in 2020, 2019 or 2018.

The Company’s assets that are potentially exposed to concentrations of credit risk consist primarily of cash, cash equivalents, and trade receivables. The financial institutions in which the Company transacts business are large, investment grade financial institutions which are “well capitalized” under applicable regulatory capital adequacy guidelines, thereby minimizing its exposure to credit risks for deposits in excess of federally insured amounts.

Cash Equivalents

The Company considers all short-term investments with a maturity of 90 days or less when purchased to be cash equivalents.

Accounts Receivable and Allowances

Trade accounts receivable are recorded at the invoiced amount or the earned amount but not yet invoiced and do not bear interest. The Company maintains allowances for estimated uncollectible receivables, including bad debts and other items. The allowance for doubtful accounts is based on the Company’s best estimate of probable uncollectible amounts in existing accounts receivable. The Company determines the allowance based on historical write-off experience and specific identification.

Inventory

Inventories are stated at the lower of cost or net realizable value. The Company applies net realizable value and obsolescence to the gross value of the inventory. Cost is determined using the first-in, first-out or weighted-average cost methods for finished goods and work-in-process. Supplies and consumables consist principally of products used in the Company’s services provided to its customers. The components of inventory balances are as follows (in thousands):




	December 31, 2020		December 31, 2019
Finished goods	$	44,123	$	45,127
Raw materials		11,345		16,130
Work-in-process		6,185		9,360
Supplies and consumables		25,070		33,322
Total	$	86,723	$	103,939

Property, Plant and Equipment

Property, plant and equipment are stated at cost, except for assets for which reduction in value is recorded during the period and assets acquired using purchase accounting, which are recorded at fair value as of the date of acquisition. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets as follows:

Buildings and improvements	5	to	40	years
Machinery and equipment	2	to	25	years
Automobiles, trucks, tractors and trailers	3	to	10	years
Furniture and fixtures	2	to	10	years

Reduction in Value of Long-Lived Assets

Long-lived assets, such as property, plant and equipment and purchased intangibles subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of assets to be held and used is assessed by a comparison of the carrying amount of such assets to their fair value calculated, in part, by the estimated undiscounted future cash flows expected to be generated by the assets. Cash flow estimates are based upon, among other things, historical results adjusted to reflect the best estimate of future market rates, utilization levels, and operating performance. Estimates of cash flows may differ from actual cash flows due to, among other things, changes in economic conditions or changes in an asset’s operating performance. Assets are grouped by subsidiary or division for the impairment testing, which represent the lowest level of identifiable cash flows. If the asset grouping’s fair value is less than the carrying amount of those items, impairment losses are recorded in the amount by which the carrying amount of such assets exceeds the fair value. Assets to be disposed of are reported at the lower of the carrying amount or fair value less estimated costs to sell. The net carrying value of assets not fully recoverable is reduced to fair value. The estimate of fair value represents the best estimate based on industry trends and reference to market transactions and is subject to variability. The oil and gas industry is cyclical and estimates of the period over which future cash flows will be generated, as well as the predictability of these cash flows, can have a significant impact on the carrying values of these assets and, in periods of prolonged down cycles, may result in impairment charges. See note 12 for a discussion of the reduction in value of long-lived assets recorded during 2020, 2019 and 2018.

The bankruptcy filings on the Petition Date required an assessment whether the carrying amounts of our long-lived assets would be recoverable. Management’s evaluation indicated that no additional impairment was necessary as a direct result of the bankruptcy filings.

Goodwill

The following table summarizes the Company’s goodwill (in thousands):




	Drilling
	Products
	and Services		Total

Balance, December 31, 2018	$	136,788	$	136,788
Foreign currency translation adjustment		907		907
Balance, December 31, 2019		137,695		137,695
Foreign currency translation adjustment		982		982
Balance, December 31, 2020	$	138,677	$	138,677

The Company performs the goodwill impairment test on an annual basis as of October 1 or more often if events or circumstances indicate there may be impairment. Goodwill impairment testing is performed at the reporting unit level, which is consistent with the reporting segments. The Company assesses whether any indicators of impairment exist, which requires a significant amount of judgment. Such indicators may include a sustained decrease in the Company’s stock price and market capitalization; a decline in the expected future cash flows; overall weakness in the industry; and slower growth rates.

Goodwill impairment exists when the estimated fair value of the reporting unit is below the carrying value. In estimating the fair value of the reporting units, the Company uses a combination of an income approach and a market-based approach.

Income approach – The Company discounts the expected cash flows of each reporting unit. The discount rate used represents the estimated weighted average cost of capital, which reflects the overall level of inherent risk involved in the Company’s operations and cash flows and the rate of return an outside investor would expect to earn.

Market-based approach – The Company uses the guideline public company method, which focuses on comparing the Company’s risk profile and growth prospects to select reasonably similar publicly traded companies.

The Company weights the income approach 80% and the market-based approach 20% due to differences between the Company’s reporting units and the peer companies’ size, profitability and diversity of operations. In order to validate the reasonableness of the estimated fair values obtained for the reporting units, a reconciliation of fair value to market value of invested capital is performed on the aggregate fair value of the reporting units. A control premium, derived from market transaction data, is used in this reconciliation to ensure that fair values are reasonably stated in conjunction with the Company’s capitalization. The Company uses all available information to estimate fair value of the reporting units, including discounted cash flows. A significant amount of judgment was involved in performing these evaluations given that the results are based on estimated future events.

During the third quarter of 2020, the Former Parent entered into a Restructuring Support Agreement (the RSA) with holders of approximately 69.2% of the 7.125% Notes and the 7.750% Notes. Entry into the RSA, along with changing industry conditions as a result of the COVID-19 pandemic constituted a triggering event that required the Former Parent to perform an interim goodwill impairment review as of September 30, 2020. The result of the goodwill impairment assessment indicated that the fair value of the Drilling Products and Services segment exceeded its net book value and, therefore, no goodwill impairment was recorded. Based on the timing of the third quarter test, along with an increase in sequential revenues and the improving business environment during the fourth quarter of 2020, the Former Parent determined that no impairment exists as of the annual test date of October 1, 2020.

During the fourth quarter of 2018, the industry climate deteriorated rapidly due to the dramatic decline in crude oil prices and the related large sell-off in the equity markets for issuers in the energy industry. As a result of the adverse changes in the business environment that occurred during the fourth quarter of 2018 and a review of the Former Parent’s expected near-term cash flows from operations, the Former Parent reviewed the goodwill for impairment. It was concluded that at December 31, 2018, the Onshore Completion and Workover Services segment’s goodwill of $583.6 million and the Production Services segment’s goodwill of $85.3 million were fully impaired. The fair value of the Drilling Products and Services segment was substantially in excess of its carrying value. See note 12 for a discussion of the reduction in value of goodwill recorded during 2018. As of each of December 31, 2020 and 2019, the Former Parent’s accumulated reduction in value of goodwill was $2,417.1 million.

Notes Receivable

The Company’s wholly owned subsidiary, Wild Well Control, Inc., has decommissioning obligations related to its ownership of a single oil and gas property and related assets. Notes receivable consist of a commitment from the seller of the property’s sole platform towards its eventual abandonment. Pursuant to an agreement with the seller, the Company will invoice the seller $115 million at the completion of decommissioning activities. This obligation was recorded at present value using an effective interest rate of 6.58%. The related discount is amortized to interest income based on the expected timing of the platform’s removal. The Former Parent recorded interest income related to notes receivable of $4.5 million, $4.2 million and $3.9 million during 2020, 2019 and 2018, respectively.

Restricted Cash

Restricted cash primarily represents cash held in a collateral account for the payment and performance of secured obligations including the reimbursement of letters of credit. Additionally, we hold cash in escrow to secure the future decommissioning obligations related to the oil and gas property.

Intangible and Other Long-Term Assets

Intangible assets consist of the following (in thousands):



		December 31,
		2020						2019
	Estimated	Gross		Accumulated		Net		Gross		Accumulated		Net
	Useful Lives	Amount		Amortization		Balance		Amount		Amortization		Balance
Customer relationships	17 years	$	14,592	$	(10,077)	$	4,515	$	19,902	$	(14,680)	$	5,222
Tradenames	10 years		9,045		(6,270)		2,775		8,907		(5,413)		3,494
Non-compete agreements	3 years		3,478		(3,478)		-		3,464		(3,106)		358
Total		$	27,115	$	(19,825)	$	7,290	$	32,273	$	(23,199)	$	9,074

Amortization expense was $1.8 million, $2.1 million and $5.6 million during 2020, 2019 and 2018, respectively. Based on the carrying values of intangible assets at December 31, 2020, amortization expense for the next five years (2021 through 2025) is estimated to be $1.0 million per year.

During 2019, the Company recorded $7.6 million of expense related to the reduction in carrying values of intangibles in the Onshore Completion and Workover Services segment (see note 12).

Decommissioning Liabilities

The Company’s decommissioning liabilities associated with the oil and gas property and its related assets consist of costs related to the plugging of wells, the removal of the related platform and equipment, and site restoration. The Company reviews the adequacy of its decommissioning liabilities whenever indicators suggest that the estimated cash flows and/or relating timing needed to satisfy the liability have changed materially.

The following table summarizes the activity for the Company’s decommissioning liabilities (in thousands):



	December 31,
	2020		2019
Balance at beginning of period	$	136,281	$	130,096
Accretion		6,945		6,332
Liabilities settled		(480)		(147)
Balance at end of period	$	142,746	$	136,281

Income Taxes

The Company accounts for income taxes and the related accounts under the asset and liability method. Deferred income taxes reflect the impact of temporary differences between amounts of assets and liabilities for financial reporting purposes and such amounts as measured by tax laws and rates that are in effect when the temporary differences are expected to reverse. The effect of a change in tax rates on the deferred income taxes is recognized in income in the period in which the change occurs. A valuation allowance is recorded when management believes it is more likely than not that at least some portion of any deferred tax asset will not be realized. It is the Company’s policy to recognize interest and applicable penalties related to uncertain tax positions in income tax expense.

Earnings per Share

Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional shares of common stock that could have been outstanding assuming the exercise of stock options and conversion of restricted stock units.

During 2020, 2019 and 2018, the Former Parent incurred losses from continuing operations; as such, the impact of any incremental shares would be anti-dilutive.

Foreign Currency

Results of operations for foreign subsidiaries with functional currencies other than the U.S. dollar are translated using average exchange rates during the period. Assets and liabilities of these foreign subsidiaries are translated using the exchange rates in effect at the balance sheet dates, and the resulting translation adjustments are reported as accumulated other comprehensive loss in the Company’s stockholders’ equity.

For international subsidiaries where the functional currency is the U.S. dollar, financial statements are remeasured into U.S. dollars using the historical exchange rate for most of the long-term assets and liabilities and the balance sheet date exchange rate for most of the current assets and liabilities. An average exchange rate is used for each period for revenues and expenses. These transaction gains and losses, as well as any other transactions in a currency other than the functional currency, are included in other income (expense) in the consolidated statements of operations in the period in which the currency exchange rates change. During 2020, 2019 and 2018, the Former Parent recorded foreign currency losses of $8.9 million, $0.8 million and $1.9 million, respectively.

Stock-Based Compensation

The Company records compensation costs relating to share-based payment transactions and includes such costs in general and administrative expenses in the consolidated statements of operations. The cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity award).

Self-Insurance Reserves

The Company is self-insured, through deductibles and retentions, up to certain levels for losses under its insurance programs. The Company accrues for these liabilities based on estimates of the ultimate cost of claims incurred as of the balance sheet date. The Company regularly reviews the estimates of asserted and unasserted claims and provides for losses through reserves. The Company obtains actuarial reviews to evaluate the reasonableness of internal estimates for losses related to workers’ compensation, auto liability and group medical on an annual basis.

New Accounting Pronouncements

Recently Issued Accounting Standards

In June 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-13, Measurement of Credit Loses on Financial Instruments. This update improves financial reporting by requiring earlier recognition of credit losses on financing receivables and other financial assets in scope by using the Current Expected Credit Losses model (CECL). The CECL model utilizes a lifetime expected credit loss measurement objective for the recognition of credit losses on financial instruments at the time the asset is originated or acquired. This update will apply to receivables arising from revenue transactions. The new standard is effective for the Company beginning on January 1, 2023. The Company has concluded that the adoption of ASU 2016-13 will not have a material impact on its consolidated financial statements.

In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. This update aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The capitalized implementation costs of a hosting arrangement that is a service contract will be expensed over the term of the hosting arrangement. The Company adopted the new standard on January 1, 2020 on a prospective basis with respect to all implementation costs incurred after the date of adoption.

In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. This update simplifies the accounting for income taxes by removing the following exceptions: (1) the incremental approach for intra-period tax allocation when there is a loss from continuing operations and income or a gain from other items; (2) the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment; (3) the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary; and (40 the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The update also (1) requires an entity to recognize a franchise tax that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax; (2) requires an entity to evaluate when a step up in the tax basis of goodwill should be considered part of the business combination in which the book goodwill was originally recognized and when it should be considered a separate transaction; (3) specifies that an entity is not required to allocate the consolidate amount of current and deferred tax expense to a legal entity that is not subject to tax in its separate financial statements; (4) requires an entity to reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date; and (5) makes minor Codification improvements for income taxes related to employee stock ownership plans. The new standard is effective for the Company beginning on January 1, 2021. The Company is evaluating the effect ASU 2019-12 will have on its consolidated financial statements.

Subsequent Events

In accordance with authoritative guidance, the Company has evaluated and disclosed all material subsequent events that occurred after the balance sheet date, but before the financial statements were issued.

Chapter 11 Reorganization

12 Months Ended

Dec. 31, 2020

Chapter 11 Reorganization [Abstract]

Chapter 11 Reorganization

(2) Chapter 11 Reorganization

On the Petition Date, the Former Parent and certain of its direct and indirect wholly-owned domestic subsidiaries (collectively with the Former Parent, the Affiliate Debtors) filed voluntary petitions for relief (the Chapter 11 Cases) under the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas Houston Division (the Bankruptcy Court) and, in connection therewith, the Affiliate Debtors filed the Plan with the Bankruptcy Court. On January 19, 2021, the Bankruptcy Court entered an order confirming and approving the Plan (the Confirmation Order).

As part of the transactions undertaken pursuant to the Plan, the Former Parent’s equity interests existing and outstanding prior to the Effective Date were cancelled. The record holders of certain of the 7.125% Notes and 7.750% Notes were deemed to have contributed all of the allowed prepetition notes claims described in the Plan against the Affiliate Debtors in exchange for shares of the Company’s Class A Common Stock, par value $0.01 per share (the Class A Common Stock). As a result, effective as of the Effective Date, the entity now known as Superior Energy Services, Inc., became the successor reporting company to the Former Parent pursuant to Rule 15d-5 of the Securities Exchange Act of 1934, as amended.

Executory Contracts and Leases

On January 19, 2021, the Bankruptcy Court approved the Former Parent’s motion to reject certain executory contracts, which were comprised entirely of corporate guarantees. Upon the rejection of these contracts, the counterparties were included in the general unsecured claims category, of which they are to receive a pro rata share based on their allowed claim of a $125,000 cash payment. On this same date, the Bankruptcy Court also approved the rejection of seven leases. Upon their rejection, the Company reclassified the associated lease liabilities to Liabilities subject to compromise at their allowed claim or settlement amount, with any difference recorded to Reorganization items.

Credit Facility

On the Effective Date, pursuant to the Plan, the Former Parent entered into a Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders and letter of credit issuers named therein providing for a $120.0 million asset-based secured revolving credit facility (the Credit Facility), as further described in Note 6 herein.

Stockholders Agreement

On the Effective Date, in order to implement certain transactions contemplated by the Plan, the Company entered into a Stockholders Agreement (the Stockholders Agreement), to provide for certain governance matters. Other than obligations related to Confidential Information (as defined in the Stockholders Agreement), the rights and preferences of each stockholder under the Stockholders Agreement will terminate when such stockholder ceases to own shares of the Class A Common Stock.

Senior Notes

As part of the transactions undertaken pursuant to the Plan, the record holders of certain of the 7.125% Notes and the 7.750% Notes contributed all of their allowed claims described in the Plan in exchange for either (i) a cash payout to be entirely funded by an equity rights offering in connection with the Plan discussed elsewhere in this Annual Report on Form 10-K (the Equity Rights Offering), or (ii) shares of the Class A Common Stock. On the Effective Date, all outstanding obligations under the 7.125% Notes and the 7.750% Notes, were cancelled, and the applicable agreements governing such obligations were terminated. Furthermore, all existing shares of common stock of the Former Parent were cancelled pursuant to the Plan, and the Company is in the process of issuing shares of the Class A Common Stock to such noteholders, subject to dilution on account of the Class B Common Stock to be issued to the Company’s management under a management equity incentive plan. The Class A Common Stock issued to such holders is exempt from registration under the Securities Act of 1933, as amended (the Securities Act), pursuant to Section 1145 of the Bankruptcy Code (which generally exempts from such registration requirements the issuance of securities under a plan of reorganization).

By the Effective Date, the Company completed the Equity Rights Offering in accordance with the Plan, which resulted in the issuance of 735,189 shares of Class A Common Stock to accredited cash opt-out noteholders as described in the Plan. The Class A Common Stock issued to the accredited cash opt-out noteholders in the Equity Rights Offering was exempt from registration under the Securities Act pursuant to section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder. The proceeds of approximately $952 thousand from the Equity Rights Offering were used entirely to fund the proceeds provided to the cash opt-in noteholders.

DDTL Commitment Letter

On the Effective Date, that certain Commitment Letter, dated as of September 29, 2020 (the DDTL Commitment Letter), with certain consenting noteholders terminated in accordance with its terms upon the effectiveness of the Credit Facility without the establishment of a delayed-draw term loan facility.

Change in Control

On the Effective Date, all previously issued and outstanding equity interests in the Company were cancelled. The Company issued Class A Common Stock to Equity Rights Offering participants and holders of allowed claims arising under the Prepetition Notes (in each case subject to dilution on account of the Class B Common Stock to be issued to management pursuant to the Plan.
‎

Affiliate Debtor Financial Statements

The following are the condensed combined financial statements for the Affiliate Debtors included in the Chapter 11 Cases:


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES (DEBTOR IN POSSESSION)
Condensed Combined Balance Sheet
(in thousands)
(Unaudited)

	December 31,
ASSETS	2020
Current assets:
Cash and cash equivalents	$	132,932
Accounts receivable, net of allowance for doubtful accounts of $19,036 at December 31, 2020 ⁽¹⁾		239,962
Income taxes receivable		13,490
Prepaid expenses		20,064
Inventory and other current assets		72,278
Assets held for sale		47,635
Total current assets		526,361

Property, plant and equipment, net of accumulated depreciation and depletion		422,848
Operating lease right-of-use assets		36,893
Notes receivable ⁽²⁾		73,027
Restricted cash		80,133
Intangible and other long-term assets, net of accumulated amortization		49,841
Investment in subsidiaries		3,914,155
Total assets	$	5,103,258


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable ⁽³⁾	$	2,348,756
Accrued expenses		106,730
Current portion of decommissioning liabilities		3,765
Liabilities held for sale		4,079
Total current liabilities		2,463,330

Intra-group notes payable		10,500
Decommissioning liabilities		138,981
Operating lease liabilities		30,184
Deferred income taxes		16,748
Other long-term liabilities		125,176

Total liabilities not subject to compromise		2,784,919

Liabilities subject to compromise		1,335,794

Total stockholders' equity		982,545

Total liabilities and stockholders' equity	$	5,103,258


(1) Includes intra-group receivables in the amount of $111.4 million.
(2) Includes intra-group note receivables in the amount of $0.4 million.
(3) Includes intra-group payables in the amount of $2,315.8 million.

‎


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES (DEBTOR IN POSSESSION)
Condensed Combined Statement of Operations
(in thousands)
(Unaudited)

	Year Ended December 31,
	2020
Revenues:
Revenues	$	627,070
Revenues - affiliates		25,790
Total revenues		652,860
Costs and expenses:
Cost of revenues		421,295
Cost of revenues - affiliates		14,046
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)		435,341
Depreciation, depletion, amortization and accretion		112,395
General and administrative expenses		185,236
Restructuring expense		47,055
Reduction in value of assets		21,049
Income (loss) from operations		(148,216)

Other income (expense):
Interest expense, net (contractual interest $95.8 million)		(93,132)
Reorganization expenses		(21,616)
Other income (expense):		(555)
Loss from continuing operations before income taxes		(263,519)
Income taxes		(1,155)
Net loss from continuing operations		(262,364)
Loss from discontinued operations, net of income tax		(114,882)
Net loss	$	(377,246)

‎


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES (DEBTOR IN POSSESSION)
Condensed Combined Statement of Cash Flows
(in thousands)
(Unaudited)

	Year Ended December 31,
	2020
Cash flows from operating activities:
Net loss	$	(377,246)

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation, depletion, amortization and accretion		112,395
Deferred income taxes		8,569
Reduction in value of assets		21,049
Reduction in value of assets held for sale		114,213
Right-of-use assets amortization		16,107
Stock-based compensation expense		2,344
Bad debt		12,377
Reorganization items		18,087
Other reconciling items, net		(4,569)
Changes in operating assets and liabilities:
Accounts receivable		96,851
Inventory and other current assets		27,856
Accounts payable		(19,282)
Accrued expenses		(18,089)
Income taxes		(12,208)
Other, net		(3,509)
Net cash used in operating activities		(5,055)

Cash flows from investing activities:
Payments for capital expenditures		(41,179)
Proceeds from sales of assets		49,792
Net cash provided by investing activities		8,613

Cash flows from financing activities:
Delayed draw term loan commitment fee		(12,000)
Debtor in possession credit facility costs		(1,554)
Other		(640)
Net cash used in financing activities		(14,194)

Net change in cash, cash equivalents, and restricted cash		(10,636)
Cash, cash equivalents, and restricted cash at beginning of period		223,702
Cash, cash equivalents, and restricted cash at end of period	$	213,066

Revenue

12 Months Ended

Dec. 31, 2020

Revenue [Abstract]

Revenue

(3) Revenue

Revenue Recognition

Revenues are recognized when performance obligations are satisfied in accordance with contractual terms, in an amount that reflects the consideration the Company expects to be entitled to in exchange for services rendered, rentals provided and products sold. Taxes collected from customers and remitted to governmental authorities and revenues are reported on a net basis in the Company’s financial statements.

Performance Obligations

A performance obligation arises under contracts with customers and is the unit of account under Topic 606. The Company accounts for services rendered and rentals provided separately if they are distinct and the service or rental is separately identifiable from other items provided to a customer and if a customer can benefit from the services rendered or rentals provided on its own or with other resources that are readily available to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. A contract’s standalone selling prices are determined based on the prices that the Company charges for its services rendered, rentals provided and products sold. The majority of the Company’s performance obligations are satisfied over time, which is generally represented by a period of 30 days or less. The Company’s payment terms vary by the type of products or services offered. The term between invoicing and when the payment is due is typically 30 days.

Services revenue: primarily represents amounts charged to customers for the completion of services rendered, including labor, products and supplies necessary to perform the service. Rates for these services vary depending on the type of services provided and can be based on a per job, per hour or per day basis.

Rentals revenue: primarily priced on a per day, per man hour or similar basis and consists of fees charged to customers for use of the Company’s rental equipment over the term of the rental period, which is generally less than twelve months.

Product sales: products are generally sold based upon purchase orders or contracts within the Company’s customers that include fixed or determinable prices but do not include right of return provisions or other significant post-delivery obligations. The Company recognizes revenue from product sales when title passes to the customer, the customer assumes risks and rewards of ownership, collectability is reasonably assured and delivery occurs as directed by the customer.

The Company expenses sales commissions when incurred because the amortization period would have been one year or less.

Disaggregation of revenue

The following table presents the Company’s revenues by segment disaggregated by geography (in thousands):



	Years Ended December 31,
		2020		2019		2018
U.S. land
Drilling Products and Services	$	78,537	$	178,345	$	176,448
Onshore Completion and Workover Services		130,798		341,297		406,248
Production Services		61,532		138,300		195,363
Technical Solutions		18,652		40,363		31,137
Total U.S. land	$	289,519	$	698,305	$	809,196

U.S. offshore
Drilling Products and Services	$	112,583	$	125,104	$	100,855
Onshore Completion and Workover Services		-		-		-
Production Services		37,478		73,610		66,512
Technical Solutions		83,519		141,851		160,507
Total U.S. offshore	$	233,580	$	340,565	$	327,874

International
Drilling Products and Services	$	90,277	$	108,124	$	106,416
Onshore Completion and Workover Services		-		-		-
Production Services		177,319		193,920		156,650
Technical Solutions		60,612		84,455		78,721
Total International	$	328,208	$	386,499	$	341,787
Total Revenues	$	851,307	$	1,425,369	$	1,478,857

The following table presents the Company’s revenues by segment disaggregated by type (in thousands):



	Years Ended December 31,
		2020		2019		2018
Services
Drilling Products and Services	$	45,226	$	69,958	$	54,997
Onshore Completion and Workover Services		118,948		303,542		364,500
Production Services		215,812		348,168		352,590
Technical Solutions		87,562		163,584		160,942
Total Services	$	467,548	$	885,252	$	933,029

Rentals
Drilling Products and Services	$	198,725	$	291,975	$	281,750
Onshore Completion and Workover Services		11,850		37,755		41,748
Production Services		21,462		32,402		36,568
Technical Solutions		9,195		14,115		20,230
Total Rentals	$	241,232	$	376,247	$	380,296

Product Sales
Drilling Products and Services	$	37,446	$	49,640	$	46,972
Onshore Completion and Workover Services		-		-		-
Production Services		39,055		25,260		29,367
Technical Solutions		66,026		88,970		89,193
Total Product Sales	$	142,527	$	163,870	$	165,532
Total Revenues	$	851,307	$	1,425,369	$	1,478,857

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 15
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

(4) Leases

Adoption of ASU 2016-02, Leases

The Company adopted the new standard on January 1, 2019 and used the effective date as the date of initial application. Therefore, prior period financial information has not been adjusted and continues to be reflected in accordance with the Company’s historical accounting policy. The standard establishes a right-of-use (ROU) model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months.

The standard provides a number of optional practical expedients in transition. The Company elected the “package of practical expedients,” which, among other things, allows the Company to carry forward its historical lease classification.

The adoption of this standard resulted in the recording of operating lease assets and operating lease liabilities of approximately $100.0 million as of January 1, 2019, with no related impact on the Company’s consolidated statement of equity or consolidated statement of operations. Short-term leases have not been recorded on the balance sheet.

Accounting Policy for Leases

The Company determines if an arrangement is a lease at inception. All of the Company’s leases are operating leases and are included in ROU assets, accounts payable and operating lease liabilities in the consolidated balance sheet.

ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligations to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the respective lease term. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company’s lease terms may include options to extend or terminate the lease.

Overview

The Company’s operating leases are primarily for real estate, machinery and equipment, and vehicles. Prior period financial information has not been adjusted and continues to be reflected in accordance with the Company’s historical accounting policy. The terms and conditions for these leases vary by the type of underlying asset. Total operating lease expense was as follows (in thousands):



	Years Ended December 31,
	2020		2019		2018
Long-term fixed lease expense	$	22,855	$	33,577	$	33,642
Long-term variable lease expense		385		406		749
Short-term lease expense		10,482		17,670		14,367
Total operating lease expense	$	33,722	$	51,653	$	48,758

Supplemental Balance Sheet Information

Operating leases were as follows (in thousands):



	December 31, 2020		December 31, 2019
Operating lease ROU assets	$	50,192	$	80,906

Accrued expenses	$	18,491	$	21,072
Operating lease liabilities		40,258		62,354
Total operating lease liabilities	$	58,749	$	83,426

Weighted average remaining lease term		9 years		9 years
Weighted average discount rate		6.35%		6.75%

Cash paid for operating leases	$	26,949	$	34,207
ROU assets obtained in exchange for lease obligations	$	4,206	$	20,200

Maturities of operating lease liabilities at December 31, 2020 are as follows (in thousands):



2021	$	22,310
2022		14,534
2023		10,997
2024		8,276
2025		5,528
Thereafter		23,172
Total lease payments		84,817
Less imputed interest		(26,068)
Total	$	58,749

Property, Plant And Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant And Equipment [Abstract]

Property, Plant And Equipment

(5) Property, Plant and Equipment

A summary of property, plant and equipment is as follows (in thousands):



	December 31,
	2020		2019
Machinery and equipment	$	2,228,539	$	2,425,526
Buildings, improvements and leasehold improvements		227,828		255,719
Automobiles, trucks, tractors and trailers		12,395		22,727
Furniture and fixtures		34,246		40,694
Construction-in-progress		4,793		16,661
Land		53,952		48,534
Oil and gas producing assets		15,117		69,204
Total		2,576,870		2,879,065
Accumulated depreciation and depletion		(2,034,780)		(2,214,116)
Property, plant and equipment, net	$	542,090	$	664,949

The Company had $28.9 million and $68.4 million of leasehold improvements at December 31, 2020 and 2019, respectively. These leasehold improvements are depreciated over the shorter of the life of the asset or the term of the lease using the straight line method. Depreciation expense (excluding depletion, amortization and accretion) was $133.6 million, $180.2 million and $258.6 million during 2020, 2019 and 2018, respectively.

Debt

12 Months Ended

Dec. 31, 2020

Debt [Abstract]

Debt

(6) Debt

The commencement of the Chapter 11 Cases constituted an event of default with respect to the Prepetition Credit Facility (defined below) and the 7.125% Notes and 7.750% Notes. The enforcement of any obligations under the prepetition debt was automatically stayed as a result of the Chapter 11 Cases throughout 2020. On the Effective Date, obligations under these notes, including principal and accrued interest, were fully extinguished in exchange for equity in the post-emergence Company. In addition, upon emergence the Credit Facility was entered, as described in “Note 2—Chapter 11 Reorganization.”

Reclassification of Debt

The balances outstanding under the Former Parent’s 7.125% Notes and 7.750% Notes were classified as liabilities subject to compromise on the accompanying consolidated balance sheets at December 31, 2020.

Prepetition Indebtedness:

The Former Parent’s outstanding debt was as follows (in thousands) for the periods indicated:



		December 31, 2020		December 31, 2019
	Stated Interest Rate (%)	Long-term
Senior unsecured notes due September 2024	7.750	$	500,000	$	500,000
Senior unsecured notes due December 2021	7.125		800,000		800,000
Total debt, gross			1,300,000		1,300,000
Reclassification to liabilities subject to compromise			(1,300,000)		-
Unamortized debt issuance costs			-		(13,371)
Total debt, net		$	-	$	1,286,629

Debt maturities presented as of December 31, 2020 were as follows (in thousands):



2021	$	800,000
2022		-
2023		-
2024		500,000
2025		-
Thereafter		-
Total	$	1,300,000

Credit Facility

Prior to the commencement of the Chapter 11 Cases, the Former Parent had an asset-based revolving credit facility (the Prepetition Credit Facility) which matured in October 2022. The enforcement of any obligations under the Prepetition Credit Facility was automatically stayed as a result of the Chapter 11 Cases throughout 2020. Upon commencement of the Chapter 11 Cases, all amounts outstanding under the Prepetition Credit Facility became outstanding under the DIP Credit Facility (defined below).

The borrowing base under the Prepetition Credit Facility was calculated based on a formula referencing the borrower’s and the subsidiary guarantors’ eligible accounts receivable, eligible inventory and eligible premium rental drill pipe less reserves. Availability under the Prepetition Credit Facility was the lesser of (i) the commitments, (ii) the borrowing base and (iii) the highest principal amount permitted to be secured under the indenture governing the 7.125% Notes.

Senior Unsecured Notes

The indenture governing the 7.750% Notes required semi-annual interest payments on March 15 and September 15 of each year through the maturity date of September 15, 2024. The indenture contained customary events of default and required satisfaction of various covenants.

The indenture governing the 7.125% Notes required semi-annual interest payments on June 15 and December 15of each year through the maturity date of December 15, 2021. The indenture contained customary events of default and required satisfaction of various covenants.

The enforcement of any obligations under the prepetition debt was automatically stayed as a result of the Chapter 11 Cases throughout 2020.

Postpetition Indebtedness:

DIP Credit Facility

In connection with the Chapter 11 Cases, the Affiliate Debtors filed a motion for approval of a debtor-in-possession financing facility, and on December 8, 2020, the Bankruptcy Court approved such motion and entered into an order approving the financings (the DIP Order). In accordance with the DIP Order, on December 9, 2020, the Former Parent, as guarantor and SESI, as borrower, entered into a $120 million Senior Secured Debtor-in-Possession Credit Agreement (the DIP Credit Facility) with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto. On the effective date of the DIP Credit Facility, all of the outstanding undrawn letters of credit under the Prepetition Credit Facility were deemed outstanding under the DIP Credit Facility.

Credit Facility

On the Effective Date, in accordance with the Plan, the Former Parent, as guarantor and SESI, as borrower, entered into the Credit Facility providing for a $120.0 million asset-based secured revolving credit facility, which is available for the issuing of letters of credit. The Credit Facility will mature on December 9, 2024. The borrowing base under the Credit Facility will be determined by reference to SESI’s and the subsidiary guarantors’ (i) eligible accounts receivable, (ii) eligible inventory, (iii) solely during the period from the Effective Date until the earlier of December 9, 2022 and the date that unrestricted cash of the Former Parent and its wholly- owned subsidiaries is less than $75 million, eligible premium rental drill pipe and (iv) so long as there are no loans outstanding at such time, certain cash of SESI’s and the subsidiary guarantors, less reserves established by the administrative agent in its permitted discretion.

Availability under the Credit Facility at any time will be the lesser of (i) the aggregate commitments under the Credit Facility and (ii) the borrowing base at such time. As of the Effective Date, the borrowing base under the Credit Facility was approximately $95.0 million (excluding Eligible Cash as defined in the Credit Facility), and may increase or decrease as a result of, among other things, changes in the Former Parent’s and its subsidiaries’ accounts receivable and inventory. The liquidity position is further supported by approximately $242 million in total cash as of the Effective Date (with $72 million held by non-guarantors). Subject to certain conditions, upon request and with the consent of the participating lenders, the total commitments under the Credit Facility may be increased to $170.0 million. SESI’s obligations under the Credit Facility are guaranteed by the Former Parent and all of SESI’s material domestic subsidiaries, and secured by substantially all of the Former Parent’s, SESI’s and the subsidiary guarantors’ assets, other than real property.

On the Effective Date, the Credit Facility replaced the previous DIP Credit Facility, and approximately $46.6 million of undrawn letters of credit issued under the DIP Credit Facility were deemed issued under the Credit Facility. All accrued and unpaid fees and other amounts thereunder were paid in full as well.

Borrowings under the Credit Facility will bear interest, at SESI’s option, at either an adjusted LIBOR rate plus an applicable margin ranging from 3.00% to 3.50% per annum, or an alternate base rate plus an applicable margin ranging from 2.00% to 2.50% per annum, in each case on the basis of the consolidated fixed charge coverage ratio. In addition, SESI is required to pay (i) a letter of credit fee ranging from 3.00% to 3.50% per annum on the basis of the consolidated fixed charge coverage ratio on the aggregate face amount of all outstanding letters of credit,(ii) to the issuing lender of each letter of credit, a fronting fee of no less than 0.25% per annum on the outstanding amount of each such letter of credit and (iii) commitment fees of 0.50% per annum on the daily unused amount of the Credit Facility, in each case quarterly in arrears.

The Credit Facility contains various covenants requiring compliance, including, but not limited to, limitations on the incurrence of indebtedness, permitted investments, liens on assets, making distributions, transactions with affiliates, mergers, consolidations, dispositions of assets and other provisions customary in similar types of agreements. The Credit Facility requires compliance with a fixed charge coverage ratio of 1.0 to 1.0 if (a) an event of default has occurred and is continuing or (b) availability under the Credit Facility is less than the greater of $20.0 million or 15% of the lesser of the aggregate commitments and the borrowing base. The covenant and other restrictions of the Credit Facility significantly restrict our ability to incur borrowings other than letters of credit.

Stock-Based And Long-Term Incentive Compensation

12 Months Ended

Dec. 31, 2020

Stock-Based And Long-Term Incentive Compensation [Abstract]

Stock-Based And Long-Term Incentive Compensation

(7) Stock-Based and Long-Term Incentive Compensation

As discussed in “Note 2—Chapter 11 Reorganization,” on the Effective Date and pursuant to the terms of the Plan, all of the Former Parent’s common stock (and any share-based compensation based on such common stock) was canceled. The Former Parent's share-based compensation plans were also terminated on the Effective Date. Accordingly, the following discussion relates solely to the Former Parent’s share-based compensation plan and share-based compensation issued and outstanding prior to such cancellation. On September 28, 2020, the Board of Directors of the Former Parent approved the implementation of a Key Employee Retention Program (the KERP), which was designed to retain key employees in their current roles over the near term while providing them with financial stability. The KERP payments were in lieu of any outstanding unvested awards under the Former Parent’s long-term equity-based incentive plans (other than any cash-based performance units (which we refer to as PSUs) granted in 2018 and 2019) and any 2020 annual bonuses that would otherwise be payable to the KERP participants. The KERP provided for one-time retention payments equal to approximately $7.3 million in the aggregate to the six executive officers of the Company, including its named executive officers. The KERP further provided for approximately $2.4 million of retention payments to other non-executive employees.

In 2020, the Former Parent was authorized to grant restricted stock units, stock options, performance share units and other cash and stock awards as part of its Long-Term Incentive Program (LTIP).

Total stock-based compensation expense and the associated tax benefits are as follows (in thousands):



	Years ended December 31,
	2020		2019		2018
Stock options	$	94	$	2,743	$	4,247
Restricted stock units		4,144		15,716		19,828
Cash restricted stock units		(56)		298		-
Cash-based PSUs		(1,554)		935		6,912
Total compensation expense		2,628		19,692		30,987

Related income taxes		610		4,569		7,189
Total compensation expense, net of income taxes	$	2,018	$	15,123	$	23,798

Total stock-based compensation expense is reflected in general and administrative expenses in the consolidated statements of operations.

Stock Options

The Former Parent’s stock option grants generally vested in equal installments over three years and expired in ten years from the grant date. Non-vested stock options were generally forfeited upon termination of employment.

Compensation expense for stock option grants was recognized based on the fair value at the date of grant using the Black-Scholes-Merton option pricing model. Historical data, among other factors, was used to estimate the expected volatility and the expected life of the stock options. The risk-free rate was based on the U.S. Treasury yield curve in effect at the time of grant for the expected life of the stock option. The dividend yield was based on our historical and projected dividend payouts.

The Former Parent did not grant any stock options during the year ended December 31, 2020. The weighted average fair values of stock options granted in 2019 and 2018, and the assumptions used in estimating those fair values were as follows:



	Years ended December 31,
	2019			2018
Weighted average fair value of stock options granted	$	24.60		$	56.12

Black-Scholes-Merton Assumptions:
Risk free interest rate		2.57	%		2.43
Expected life (years)		6			6
Volatility		56.62	%		51.21

The following table summarizes stock option activity for 2020:



	Number of Options	Weighted Average Option Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value ‎(in thousands)
Outstanding at beginning of period	669,360	$	169.11	4.7	$	-
Granted	-	$	-
Exercised	-	$	-
Forfeited	(56,056)	$	63.18
Expired	(145,057)	$	249.23
Outstanding at end of period	468,247	$	156.97	4.5	$	-
Exercisable at end of period	468,247	$	156.97	4.5	$	-
Options expected to vest at end of period	-	$	-	-	$	-

There were not any stock option exercises during the past three years. As of December 31, 2020, all stock options were fully vested. The Chapter 11 Cases resulted in the cancellation of the stock options.

Restricted Stock Units

RSUs granted as part of the Former Parent’s LTIP generally vested in equal annual installments over three years. On the vesting date, each RSU would be converted to one share of common stock having an aggregate value determined by the closing stock price on the vesting date. Holders of RSUs were not entitled to any rights of a stockholder, such as the right to vote shares.

The following table summarizes RSU activity for 2020. All KERP participants surrendered their RSU awards as a condition to participation in the KERP:



	Number of RSUs	Weighted Average Grant Date Fair Value
Non-vested at beginning of period	413,966	$	78.32
Granted	-	$	-
Vested	(149,529)	$	93.11
Forfeited	(130,201)	$	59.33
Non-vested at end of period	134,236	$	80.27

At December 31, 2020, there were $1.2 million of unrecognized compensation expense related to unvested RSUs, which the Company expects to recognize in the first quarter of 2021, upon reflecting the cancellation of these awards as part of the Plan.

Liability-Classified Awards

Performance Share Units

In 2020, as part of the Former Parent’s LTIP, PSUs were issued providing for a three year performance period. The 2020 PSU grants were surrendered as a condition to participation in the KERP.

At December 31, 2020, there were 210,398 PSUs outstanding (96,522 and 113,876 related to performance periods ending December 31, 2020 and 2021, respectively). Both current and long-term liabilities for this liability-based compensation award have been recorded.

Employee Stock Purchase Plan

The Employee Stock Purchase Plan (ESPP) terminated in accordance with its terms in 2019. In 2019 and prior years, eligible employees were allowed to purchase shares of the Former Parent’s common stock at a discount during six month offering periods beginning on January 1st and July 1st of each year and ending on June 30 and December 31 of each year, respectively.

The following table summarizes ESPP activity during 2019 and 2018 (in thousands except shares):



	Years ended December 31,
	2019		2018
Cash received for shares issued	$	689	$	2,625
Compensation expense	$	122	$	463
Shares issued		532,292		550,950

401(k)/Profit Sharing Plan

The Company maintains a defined contribution profit sharing plan for employees who have satisfied minimum service requirements. Employees may contribute up to 75% of their eligible earnings to the plan subject to the contribution limitations imposed by the Internal Revenue Service. The Company provides a nondiscretionary match of 100% of an employee’s contributions to the plan, up to 4% of the employee’s salary. The Former Parent made contributions of $6.2 million, $10.5 million and $10.0 million in 2020, 2019 and 2018, respectively.

Non-Qualified Deferred Compensation Plan

The Company maintains a non-qualified deferred compensation plan which allows senior management to defer up to 75% of their base salary, up to 100% of their bonus, up to 100% of the cash portion of their PSU compensation and up to 100% of the vested RSUs to the plan. The Company also maintains a non-qualified deferred compensation plan for its non-employee directors which allows each director to defer up to 100% of their cash compensation paid by the Company. Payments are made to participants based on their annual enrollment elections and plan balances.

The following table summarizes deferred compensation balances (in thousands):



		December 31,
	Balance sheet location	2020		2019
Deferred compensation assets	Intangible and other long-term assets, net	$	15,013	$	15,499
Deferred compensation liabilities, short-term	Accounts payable	$	2,869	$	1,372
Deferred compensation liabilities, long-term	Other long-term liabilities	$	20,697	$	23,466

Supplemental Executive Retirement Plan

The Company has a supplemental executive retirement plan (SERP). The SERP provides retirement benefits to the Company’s executive officers and certain other designated key employees. The SERP is an unfunded, non-qualified defined contribution retirement plan, and all contributions under the plan are unfunded credits to a notional account maintained for each participant. Prior to January 1, 2020, under the SERP, the Former Parent made annual contributions to a retirement account based on age and years of service. The participants in the plan received contributions ranging from 5% to 35% of salary and annual cash bonus, which totaled $0 million, $1.1 million and $1.2 million during 2020, 2019 and 2018, respectively. During 2020, 2019 and 2018, the Former Parent paid $0, $2.3 million and $0, respectively, to eligible participants in the SERP.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Income Taxes

(8) Income Taxes

The components of loss from continuing operations before income taxes are as follows (in thousands):



	Years ended December 31,
	2020		2019		2018
Domestic	$	(260,117)	$	(81,443)	$	(448,575)
Foreign		(35,159)		(936)		(21,831)
	$	(295,276)	$	(82,379)	$	(470,406)

The components of income tax benefit are as follows (in thousands):



		Years ended December 31,
	2020		2019		2018
Current:
Federal	$	(36,506)	$	-	$	-
State		1,033		1,573		2,118
Foreign		8,498		(3,359)		14,856
		(26,975)		(1,786)		16,974
Deferred:
Federal		17,155		1,792		(66,039)
State		(638)		1,622		(4,161)
Foreign		(3,470)		(6,254)		10,223
		13,047		(2,840)		(59,977)
	$	(13,928)	$	(4,626)	$	(43,003)

A reconciliation of the U.S. statutory federal tax rate to the consolidated effective tax rate is as follows (in thousands):



	Years ended December 31,
	2020		2019		2018
Computed expected tax benefit	$	(62,008)	$	(17,513)	$	(98,785)
Increase (decrease) resulting from
State and foreign income taxes		12,604		10,970		10,437
Reduction in value of assets		-		(233)		27,680
Valuation allowance		32,890		21,353		-
Other		2,586		(19,203)		17,665
Income tax benefit	$	(13,928)	$	(4,626)	$	(43,003)

Certain of the restructuring transactions contemplated by the Chapter 11 Cases and the Plan may have a material impact on the Company’s tax attributes, the full extent of which is currently unknown. Cancellation of indebtedness income resulting from such restructuring transactions may significantly reduce the Company’s tax attributes, including but not limited to net operating loss carryforwards. Further, the Company experienced an ownership change under Section 382 of the Internal Revenue Code of 1986, as amended (the Code), upon confirmation of the Plan by the Bankruptcy Court which will subject certain remaining tax attributes to an annual limitation under Section 382 of the Code.

On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), a tax relief and spending package intended to provide economic stimulus to address the impact of the COVID-19 pandemic. The CARES Act allows corporations with net operating losses generated in 2018, 2019 and 2020 to elect to carryback those losses for a period of five years and relaxes the limitation for business interest deductions for 2019 and 2020. Under the provisions of the CARES Act, the Former Parent received a refund of $30.5 million in July 2020 related to the carryback of the 2018 net operating loss and received a refund of $8.2 million in February 2021 related to the carryback of the 2019 net operating loss.

During 2018, the Former Parent recorded a $668.9 million reduction in value of goodwill relating to its Onshore Completion and Workover Services and Production Services segments. For tax purposes, the goodwill impairment generated a reduction to the permanent book-tax basis difference of $548.8 million and a reduction to the book-tax temporary basis difference of $102.0 million net of current year amortization expense of $18.0 million. The 2018 effective tax rate was significantly impacted by the permanent adjustment related to the reduction in value of assets caused by the goodwill impairment.

The tax effects of temporary differences that give rise to significant components of deferred income tax assets and liabilities are as follows (in thousands):



	December 31,
	2020		2019
Deferred tax assets:
Allowance for doubtful accounts	$	1,713	$	1,291
Operating loss and tax credit carryforwards		150,426		136,647
Compensation and employee benefits		27,625		35,532
Decommissioning liabilities		30,960		29,405
Operating leases		2,792		1,002
Other		34,578		24,903
		248,094		228,780
Valuation allowance		(139,106)		(84,741)
Net deferred tax assets		108,988		144,039

Deferred tax liabilities:
Property, plant and equipment		69,510		114,024
Notes receivable		12,977		12,977
Goodwill and other intangible assets		23,920		20,285
Other		7,869		-
Deferred tax liabilities		114,276		147,286
Net deferred tax liability	$	5,288	$	3,247

At December 31, 2020, the Former Parent had $274 million in U.S. net operating loss carryforwards, which are available to reduce future taxable income. The expiration date for utilization of the U.S. loss carryforwards is 2037 for losses generated before 2018. Losses generated after 2017 have an indefinite carryforward that is limited to 80% of taxable income each year. At December 31, 2020, the Former Parent also had various state net operating loss carryforwards with expiration dates from 2020 to 2038. A net deferred tax asset of $15.4 million reflects the expected future tax benefit for the state loss carryforwards. At December 31, 2020, the Former Parent also had a U.S. foreign tax credit carryforward of $54.5 million with expiration dates from 2025 to 2027.

Management evaluates whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. The Former Parent has incurred a cumulative loss over the three-year period ended December 31, 2020. Such evidence limits the ability to consider other projections of future growth. After considering all available evidence at December 31, 2020, the Company determined that a portion of the deferred tax assets would not be realized. Accordingly, the Company increased the valuation allowance by $54 million.

The Company has not provided income tax expense on earnings of its foreign subsidiaries, since the Company has reinvested or expects to reinvest undistributed earnings outside the U.S. indefinitely. At December 31, 2020, the Company’s foreign subsidiaries had an overall accumulated deficit in earnings. The Company does not intend to repatriate the earnings of its profitable foreign subsidiaries. The Company has not provided U.S. income taxes for such earnings. These earnings could become subject to U.S. income tax if repatriated. It is not practicable to estimate the amount of taxes that might be payable on such undistributed earnings.

The Company files income tax returns in the U.S., including federal and various state filings, and certain foreign jurisdictions. The number of years that are open under the statute of limitations and subject to audit varies depending on the tax jurisdiction. The Company remains subject to U.S. federal tax examinations for years after 2017.

The Former Parent had unrecognized tax benefits of $13.2 million, $13.2 million and $30.6 million as of December 31, 2020, 2019 and 2018, respectively, all of which would impact the Company’s effective tax rate if recognized.

The activity in unrecognized tax benefits is as follows (in thousands):



	Years ended December 31,
	2020		2019		2018
Unrecognized tax benefits at beginning of period	$	13,206	$	30,558	$	30,656
Additions based on tax positions related to prior years		1,757		2,500		1,899
Reductions based on tax positions related to prior years		-		-		(1,864)
Reductions as a result of a lapse of the applicable statute of limitations		(757)		-		(133)
Reductions relating to settlements with taxing authorities		(1,000)		(19,852)		-
Unrecognized tax benefits at end of period	$	13,206	$	13,206	$	30,558

The amounts above include accrued interest and penalties of $5.8 million, $5.0 million and $9.7 million for the years ended December 31, 2020, 2019 and 2018, respectively. During the year ended December 31, 2019, the Former Parent recorded a reduction in unrecognized tax benefits of $19.9 million relating to settlements of income tax audits in foreign countries. Interest and penalties associated with the unrecognized tax benefits are classified as a component of income tax expense in the consolidated statements of operations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Segment Information

12 Months Ended

Dec. 31, 2020

Segment Information [Abstract]

Segment Information

(9) Segment Information

Business Segments

The Drilling Products and Services segment rents and sells bottom hole assemblies, premium drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, completion, production and workover activities. It also provides on-site accommodations and machining services. The Onshore Completion and Workover Services segment provides fluid handling services and workover and maintenance services. The Production Services segment provides intervention services such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, production testing and optimization, and remedial pumping services. The Technical Solutions segment provides services typically requiring specialized engineering, manufacturing or project planning, including well containment systems, stimulation and sand control services, and the production and sale of oil and gas.

For the years ended December 31, 2020, 2019 and 2018, operating results of Pumpco Energy Services, Inc. (Pumpco) are reported in discontinued operations (see note 13). Previously those operating results were reported within the Onshore Completion and Workover Services segment.

The Company evaluates the performance of its reportable segments based on income or loss from operations excluding allocated corporate expenses. The segment measure is calculated as follows: segment revenues less segment operating expenses, depreciation, depletion, amortization and accretion expense and reduction in value of assets. The Company uses this segment measure to evaluate its reportable segments because it is the measure that is most consistent with how the Company organizes and manages its business operations. Corporate and other costs primarily include expenses related to support functions, salaries and benefits for corporate employees and stock-based compensation expense.

Summarized financial information for the Company’s segments is as follows (in thousands):



2020

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical		Corporate and		Consolidated
	Services		Services		Services		Solutions		Other		Total
Revenues	$	281,397	$	130,798	$	276,329	$	162,783	$	-	$	851,307
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)		97,894		123,443		230,939		127,853		-		580,129
Depreciation, depletion, amortization
and accretion		61,526		22,301		39,867		19,329		3,770		146,793
General and administrative expenses		51,332		16,326		30,292		44,660		79,855		222,465
Restructuring expense		-		-		-		-		47,055		47,055
Reduction in value of assets		599		1,857		7,558		14,900		1,983		26,897
Income (loss) from operations		70,046		(33,129)		(32,327)		(43,959)		(132,663)		(172,032)
Interest income (expense), net		-		-		-		4,539		(96,938)		(92,399)
Reorganization expenses		-		(1,606)		(490)		-		(19,520)		(21,616)
Other income		-		-		-		-		(9,229)		(9,229)
Income (loss) from continuing operations
before income taxes	$	70,046	$	(34,735)	$	(32,817)	$	(39,420)	$	(258,350)	$	(295,276)



2019

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical		Corporate and		Consolidated
	Services		Services		Services		Solutions		Other		Total
Revenues	$	411,573	$	341,297	$	405,830	$	266,669	$	-	$	1,425,369
Cost of revenues (exclusive of depreciation,
depletion, amortization and accretion)		154,503		274,162		328,527		167,890		-		925,082
Depreciation, depletion, amortization
and accretion		83,999		33,699		51,370		22,665		4,726		196,459
General and administrative expenses		60,094		25,621		29,622		59,587		93,302		268,226
Reduction in value of assets		-		8,122		2,055		7,008		-		17,185
Income (loss) from operations		112,977		(307)		(5,744)		9,519		(98,028)		18,417
Interest income (expense), net		-		-		-		4,172		(102,484)		(98,312)
Other expense		-		-		-		-		(2,484)		(2,484)
Income (loss) from continuing operations
before income taxes	$	112,977	$	(307)	$	(5,744)	$	13,691	$	(202,996)	$	(82,379)



2018

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical		Corporate and		Consolidated
	Services		Services		Services		Solutions		Other		Total
Revenues	$	383,719	$	406,248	$	418,525	$	270,365	$	-	$	1,478,857
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)		148,019		315,291		342,420		164,758		-		970,488
Depreciation, depletion, amortization
and accretion		112,111		68,183		66,993		25,653		5,499		278,439
General and administrative expenses		53,688		24,386		41,499		57,600		99,295		276,468
Reduction in value of assets		-		227,801		92,252		-		2,660		322,713
Income (loss) from operations		69,901		(229,413)		(124,639)		22,354		(107,454)		(369,251)
Interest income (expense), net		-		-		-		3,915		(103,392)		(99,477)
Other income		-		-		-		-		(1,678)		(1,678)
Income (loss) from continuing operations
before income taxes	$	69,901	$	(229,413)	$	(124,639)	$	26,269	$	(212,524)	$	(470,406)



Identifiable Assets
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical		Corporate and		Consolidated
	Services		Services		Services		Solutions		Other		Total
December 31, 2020	$	557,469	$	183,065	$	368,185	$	260,339	$	132,021	$	1,501,079
December 31, 2019	$	659,621		467,697	$	421,848	$	377,627	$	66,437	$	1,993,230
December 31, 2018	$	587,264	$	808,037	$	434,430	$	340,161	$	46,070	$	2,215,962

At December 31, 2020 and 2019, respectively, the Onshore Completion and Workover Services segment included $47.6 million and $216.2 million of identifiable assets relating to Pumpco that were classified as assets held for sale on the consolidated balance sheet, see note 13.

During 2019, the Former Parent sold its drilling rig service line, which was previously included in the Onshore Completion and Workover Services segment. This service line included twelve active U.S. land based drilling rigs and associated equipment with a carrying value of $66.2 million. The Former Parent received $78.0 million in cash proceeds and recognized a $0.2 million loss on sale of assets. In addition, the Former Parent recorded a $7.5 million impairment of the intangibles associated with the disposed assets.



Capital Expenditures
			Onshore
	Drilling		Completion
	Products and		and Workover			Production		Technical		Corporate and		Consolidated
	Services		Services		(1)	Services		Solutions		Other		Total
December 31, 2020	$	24,053	$	1,825		$	15,558	$	4,051	$	2,166	$	47,653
December 31, 2019	$	63,252	$	5,830		$	17,009	$	11,377	$	6,254	$	103,722
December 31, 2018	$	46,649	$	39,699		$	8,651	$	16,221	$	2,056	$	113,276

(1)Excludes capital expenditures related to Pumpco of $36.7 million and $108.1 million for the years ended December 31, 2019, and 2018, respectively.

Geographic Segments

The Company attributes revenue to various countries based on the location where services are performed or the destination of the drilling products or equipment sold or rented. Long-lived assets consist primarily of property, plant and equipment and are attributed to various countries based on the physical location of the asset at the end of a period. The Company’s revenue attributed to the U.S. and to other countries and the value of its long-lived assets by those locations is as follows (in thousands):



Revenues
	Years Ended December 31,
	2020		2019		2018
United States	$	523,099	$	1,038,870	$	1,137,070
Other countries		328,208		386,499		341,787
Total	$	851,307	$	1,425,369	$	1,478,857

Long-Lived Assets

	December 31,
	2020		2019
United States	$	387,097	$	489,189
Other countries		154,993		175,760
Total	$	542,090	$	664,949

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 31
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Publisher FASB
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Measurements [Abstract]

Fair Value Measurements

(10) Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or the price paid to transfer a liability in an orderly transaction between market participants at the measurement date. Inputs used in determining fair value are characterized according to a hierarchy that prioritizes those inputs based on the degree to which they are observable. The three input levels of the fair value hierarchy are as follows:

Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities;

Level 2: Observable inputs other than those included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical assets or liabilities in inactive markets or model-derived valuations or other inputs that can be corroborated by observable market data; and

Level 3: Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability.

The following tables provide a summary of the financial assets and liabilities measured at fair value on a recurring basis (in thousands):




	Fair Value at December 31, 2020
	Level 1		Level 2		Level 3		Total
Intangible and other long-term assets, net:
Non-qualified deferred compensation assets	$	-	$	15,013	$	-	$	15,013
Accounts payable:
Non-qualified deferred compensation liabilities	$	-	$	2,869	$	-	$	2,869
Other long-term liabilities:
Non-qualified deferred compensation liabilities	$	-	$	20,697	$	-	$	20,697
Total debt	$	409,050	$	-	$	-	$	409,050

	Fair Value at December 31, 2019
	Level 1		Level 2		Level 3		Total
Intangible and other long-term assets, net:
Non-qualified deferred compensation assets	$	-	$	15,499	$	-	$	15,499
Accounts payable:
Non-qualified deferred compensation liabilities	$	-	$	1,372	$	-	$	1,372
Other long-term liabilities:
Non-qualified deferred compensation liabilities	$	-	$	23,466	$	-	$	23,466
Total debt	$	1,021,300	$	-	$	-	$	1,021,300

The Company’s non-qualified deferred compensation plans allow officers, certain highly compensated employees and non-employee directors to defer receipt of a portion of their compensation and contribute such amounts to one or more hypothetical investment funds (see note 7). The Company entered into separate trust agreements, subject to general creditors, to segregate assets of each plan and reports the accounts of the trusts in its consolidated financial statements. These investments are reported at fair value based on unadjusted quoted prices in active markets for identifiable assets and observable inputs for similar assets and liabilities, which represent Levels 1 and 2, respectively, in the fair value hierarchy.

The carrying amount of cash equivalents, accounts receivable, accounts payable and accrued expenses, as reflected in the consolidated balance sheets, approximates fair value due to the short maturities. The fair value of the debt instruments is determined by reference to the market value of the instrument as quoted in an over-the-counter market.

The following table reflects the fair value measurements used in testing the impairment of long-lived assets (in thousands):


	Years Ended December 31,
	2020				2019
	Impairment		Fair Value		Impairment		Fair Value
Intangible assets	$	-	$	-	$	7,556	$	-
Property, plant and equipment, net	$	26,897	$	13,593	$	9,629	$	25,000

Fair value is measured as of the impairment date using Level 3 inputs. See note 12 for discussion of reduction in value of assets recorded during 2020 and 2019.

Nonrecurring Fair Value Measurements

Long-lived assets within our assets held for sale were measured at fair value on a nonrecurring basis at December 31, 2020. Fair value of the long-lived assets within assets held for sale was measured using Level 3 inputs and based on an estimated sales price less marketing costs. In 2020, the Company recorded a $114.2 million reduction in value of assets on its assets held for sale. This expense is reported within loss from discontinued operations, net of income tax within the accompanying consolidated statement of operations for the year ended December 31, 2020. See note 13 to our consolidated financial statements for further discussion of the discontinued operations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Contingencies

12 Months Ended

Dec. 31, 2020

Contingencies [Abstract]

Contingencies

(11) Contingencies

Due to the nature of the Company’s business, the Company is involved, from time to time, in various routine litigation or subject to disputes or claims or actions, including those commercial in nature, regarding its business activities in the ordinary course of business. Legal costs related to these matters are expensed as incurred. Management is of the opinion that none of the claims and actions will have a material adverse impact on the Company's financial position, results of operations or cash flows.

A subsidiary of the Company is involved in legal proceedings with two former employees regarding the payment of royalties for a patentable product paid for by the subsidiary and developed while they worked for the subsidiary. On April 2, 2018, the former employees and their corporation filed a lawsuit in the Harris County District Court alleging that the royalty payments they had invoiced at 25% and for which they received payments since 2010, should have been paid at a rate of 50%. In May 2019, the jury issued a verdict in favor of the plaintiffs. On October 25, 2019, the court issued a final judgment against the Company which the Company has fully secured with a supersedeas bond. The Company strongly disagrees with the verdict and believes the district court committed several legal errors that should result in a reversal or remand of the case by the Court of Appeals.

Commencement of the Chapter 11 Cases automatically stayed certain proceedings and actions against the Debtors. These cases continue after the Chapter 11 Cases.

Reduction in Value of Assets

12 Months Ended

Dec. 31, 2020

Reduction In Value Of Assets [Abstract]

Reduction In Value Of Assets

(12) Reduction in Value of Assets

During 2020, 2019 and 2018, the Former Parent recorded $26.9 million, $17.2 million and $322.7 million in expense related to reduction in value of assets, respectively. The components of the reductions in value of assets are as follows (in thousands):


	Years ended December 31,
		2020		2019	2018
Reduction in value of goodwill	$	-	$	-	$	251,826
Reduction in value of long-lived assets		26,897		17,185		70,887
Total reduction in value of assets	$	26,897	$	17,185	$	322,713

Reduction in Value of Long-Lived Assets

During 2020, the Former Parent recorded $26.9 million in connection with the reduction in value of its long-lived assets. The reduction in value of assets was related to reduction in value of long-lived assets primarily in our Technical Solutions and Production Services segments.

During 2019, the Former Parent recorded $17.2 million in connection with the reduction in value of its long-lived assets. The reduction in value of assets was primarily related to reduction in value of certain intangibles in the Onshore Completion and Workover Services segment and long-lived assets in the Technical Solutions segment.

During 2018, the Former Parent recorded $70.9 million in connection with the reduction in value of its long-lived assets. The reduction in value of assets was comprised of $41.4 million and $19.8 million related to property, plant and equipment and intangibles, respectively, in the well servicing rigs business in the Onshore Completion and Workover Services segment and $5.1 million related to property, plant and equipment and $1.9 million related to intangibles in the Production Services segment. The reduction in value of assets recorded during 2018 was primarily driven by the decline in demand for these services and the forecast did not indicate a timely recovery sufficient to support the carrying values of these assets. In addition, the Former Parent recorded a $2.6 million reduction in carrying value of its former corporate facility and its related assets.

Reduction in Value of Goodwill

During 2018, the Former Parent recorded a $251.8 million reduction in value of goodwill relating to its Onshore Completion and Workover Services and Production Services segments. The Company determined that the fair value of its goodwill for the Onshore Completion and Workover Services segment was less than its carrying value and fully wrote-off the related goodwill balances.

Discontinued Operations

12 Months Ended

Dec. 31, 2020

Discontinued Operations [Abstract]

Discontinued Operations

(13) Discontinued Operations

On December 10, 2019, the Former Parent’s indirect, wholly owned subsidiary, Pumpco, completed its existing hydraulic fracturing field operations and determined to discontinue, wind down and exit its hydraulic fracturing operations. The Company intends to maintain an adequate number of employees to efficiently wind down Pumpco’s business. The financial results of Pumpco’s operations have historically been included in the Former Parent’s Onshore Completions and Workover Services segment. The Company will continue to sell Pumpco’s fixed assets over time.

The following table summarizes the components of loss from discontinued operations, net of tax for the years ended December 31, 2020, 2019 and 2018 (in thousands):


	Years ended December 31,
	2020			2019	2018
Revenues	$	521	$	281,452	$	651,408
Cost of services		8,410		272,248		531,616

Loss from discontinued operations before tax		(127,445)		(169,582)		(433,142)
Loss from discontinued operations, net of income tax		(114,882)		(177,968)		(430,712)

The following summarizes the assets and liabilities related to the business reported as discontinued operations (in thousands):




	December 31,
	2020		2019
Current assets:
Accounts receivable, net	$	-	$	25,106
Other current assets		2,155		6,215
Total current assets		2,155		31,321

Property, plant and equipment, net		45,397		179,144
Operating lease ROU assets		83		5,732
Total assets	$	47,635	$	216,197

Current liabilities:
Accounts payable	$	165	$	14,370
Accrued expenses		1,326		24,751
Total current liabilities		1,491		39,121

Operating lease liabilities		2,588		5,415
Other long-term liabilities		-		402
Total liabilities	$	4,079	$	44,938

Significant operating non-cash items of Pumpco and cash flows from investing activities were as follows (in thousands):



	Years ended December 31,
	2020			2019	2018
Cash flows from discontinued operating activities:
Depreciation and amortization	$	-	$	75,077	$	122,409
Reduction in value of assets		114,213		76,577		417,011

Cash flows from discontinued investing activities:
Payments for capital expenditures	$	-	$	(36,743)	$	(108,094)
Proceeds from sales of assets		19,030		1,669		-

Supplemental Guarantor Information

12 Months Ended

Dec. 31, 2020

Supplemental Guarantor Information [Abstract]

Supplemental Guarantor Information

(14) Supplemental Guarantor Information

The Former Parent, along with certain of its direct and indirect 100% owned domestic subsidiaries (the subsidiary guarantors, and together with the Former Parent, the guarantors), entered into guarantees of the outstanding 7.750% Notes (the guarantees). All guarantees provided by the guarantors were full and unconditional, joint and several, except that the guarantee of any subsidiary guarantor could be released under certain customary circumstances, including (i) in connection with a sale or other disposition of all or substantially all of the assets of the applicable subsidiary guarantor (including by way of merger or consolidation) to a person that is not the Issuer, Former Parent or a subsidiary of the Issuer; (ii) in connection with a sale or other disposition of all of the capital stock of such subsidiary guarantor to a person that was not the Former Parent or Issuer or their respective subsidiaries; and (iii) upon legal defeasance or satisfaction and discharge of the indenture that governed the 7.750% Notes. The Former Parent was to be released from its guarantee only in connection with any legal defeasance or satisfaction and discharge of the indenture. Upon emergence in 2021, all outstanding obligations under the outstanding unsecured senior notes were cancelled and the applicable agreements governing such obligations were terminated as discussed in Part I, Item 1 of this Annual Report on Form 10-K.

With respect to each guarantor, each guarantee was a general unsecured senior obligation of such guarantor and

ranked equally in right of payment with all existing and future senior unsecured indebtedness of such guarantor;

was senior in right of payment to any future subordinated obligations of such guarantor; and

was effectively subordinated to existing and future secured indebtedness of such guarantor to the extent of the value of the assets securing that indebtedness.

The guarantee obligations of the Former Parent and each subsidiary guarantor were limited as necessary to prevent the guarantee from constituting a fraudulent conveyance under applicable law. If a guarantee was rendered voidable, it could be subordinated by a court to all other indebtedness (including guarantees and other contingent liabilities) of the applicable guarantor, and, depending on the amount of such indebtedness, such guarantor’s liability on its guarantee could have been reduced to zero.

The 7.750% Notes and the guarantees were structurally subordinated to all indebtedness and other obligations of any of the subsidiary guarantors that did not guarantee the 7.750% Notes (the non-guarantor subsidiaries). Such non-guarantor subsidiaries had no obligation, contingent or otherwise, to pay amounts due under the 7.750% Notes or to make funds available to pay those amounts, whether by dividends, distributions, loans or other payments.

The following summarized financial information presents the financial information of the Former Parent, Issuer and the subsidiary guarantors (collectively, the Obligor Group), on a combined basis, after elimination of (i) intercompany transactions and balances among the Former Parent, Issuer and the subsidiary guarantors and (ii) equity in earnings from and investments in any subsidiary of the Former Parent that was not the Issuer or a subsidiary guarantor.



OBLIGOR GROUP
Summarized Balance Sheets Information
(in thousands)

	December 31,
	2020		2019
Current assets	$	377,166	$	789,562
Noncurrent assets		1,079,397		1,134,238
Total assets	$	1,456,563	$	1,923,800

Current liabilities	$	141,676	$	261,743
Noncurrent liabilities		4,282,311		2,039,138
Total liabilities	$	4,423,987	$	2,300,881



OBLIGOR GROUP
Summarized Statements of Operations Information
(in thousands)

	Years ended December 31,
	2020		2019
Total revenues	$	641,216	$	1,126,456
Cost of revenues		432,363		723,451

Loss from operations before income taxes		(273,825)		(92,731)
Income taxes		(17,602)		6,102
Net loss from continuing operations		(256,223)		(98,833)
Loss from discontinued operations, net of tax		(114,882)		(177,968)
Net loss attributable to the Obligor Group	$	(371,105)	$	(276,801)

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2020

Valuation and Qualifying Accounts [Abstract]

Schedule II Valuation and Qualifying Accounts

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Schedule II Valuation and Qualifying Accounts

Years Ended December 31, 2020, 2019 and 2018

(in thousands)



		Balance at the		Charged to
		beginning of		costs and				Balance at the
Description		the year		expenses		Deductions		end of the year
2020
	Allowance for doubtful accounts	$	12,156	$	14,587	$	2,114	$	24,629
2019
	Allowance for doubtful accounts	$	12,080	$	3,006	$	2,930	$	12,156
2018
	Allowance for doubtful accounts	$	29,037	$	3,569	$	20,526	$	12,080

Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2020

Summary Of Significant Accounting Policies [Abstract]

Basis of Presentation

Business

Chapter 11 Cases

Chapter 11 Accounting

The consolidated financial statements included herein have been prepared as if we were a going concern and in accordance with FASB ASC Topic No. 852 - Reorganizations.

Restructuring expenses

Reorganization expenses

Reorganization expenses were $21.6 million for the year ended December 31, 2020, which consisted of:


	December 31, 2020
7.125% Senior unsecured notes - unamortized debt issuance costs	$	2,160
7.750% Senior unsecured notes - unamortized debt issuance costs		5,644
Credit facility - unamortized debt issuance costs		2,172
Debtor in possession credit facility costs		1,554
Rejected leases		8,601
Professional fees		1,485
Total	$	21,616

Liabilities subject to compromise

Liabilities subject to compromise as of December 31, 2020 were $1,335.8 million, which consisted of:


	December 31, 2020
7.125% Senior unsecured notes due 2021	$	800,000
7.750% Senior unsecured notes due 2024		500,000
Accrued interest on senior notes		35,794
Total	$	1,335,794

Use of Estimates

Major Customers and Concentration of Credit Risk

Cash Equivalents

The Company considers all short-term investments with a maturity of 90 days or less when purchased to be cash equivalents.

Accounts Receivable and Allowances

Inventory




	December 31, 2020		December 31, 2019
Finished goods	$	44,123	$	45,127
Raw materials		11,345		16,130
Work-in-process		6,185		9,360
Supplies and consumables		25,070		33,322
Total	$	86,723	$	103,939

Property, Plant and Equipment

Buildings and improvements	5	to	40	years
Machinery and equipment	2	to	25	years
Automobiles, trucks, tractors and trailers	3	to	10	years
Furniture and fixtures	2	to	10	years

Reduction In Value Of Long-Lived Assets

Reduction in Value of Long-Lived Assets

Goodwill

The following table summarizes the Company’s goodwill (in thousands):




	Drilling
	Products
	and Services		Total

Balance, December 31, 2018	$	136,788	$	136,788
Foreign currency translation adjustment		907		907
Balance, December 31, 2019		137,695		137,695
Foreign currency translation adjustment		982		982
Balance, December 31, 2020	$	138,677	$	138,677

Notes Receivable

Restricted Cash

Intangible and Other Long-Term Assets

Intangible assets consist of the following (in thousands):



		December 31,
		2020						2019
	Estimated	Gross		Accumulated		Net		Gross		Accumulated		Net
	Useful Lives	Amount		Amortization		Balance		Amount		Amortization		Balance
Customer relationships	17 years	$	14,592	$	(10,077)	$	4,515	$	19,902	$	(14,680)	$	5,222
Tradenames	10 years		9,045		(6,270)		2,775		8,907		(5,413)		3,494
Non-compete agreements	3 years		3,478		(3,478)		-		3,464		(3,106)		358
Total		$	27,115	$	(19,825)	$	7,290	$	32,273	$	(23,199)	$	9,074

During 2019, the Company recorded $7.6 million of expense related to the reduction in carrying values of intangibles in the Onshore Completion and Workover Services segment (see note 12).

Decommissioning Liabilities

The following table summarizes the activity for the Company’s decommissioning liabilities (in thousands):



	December 31,
	2020		2019
Balance at beginning of period	$	136,281	$	130,096
Accretion		6,945		6,332
Liabilities settled		(480)		(147)
Balance at end of period	$	142,746	$	136,281

Income Taxes

Earnings Per Share

Earnings per Share

During 2020, 2019 and 2018, the Former Parent incurred losses from continuing operations; as such, the impact of any incremental shares would be anti-dilutive.

Foreign Currency

Stock-Based Compensation

Self-Insurance Reserves

New Accounting Pronouncements

Recently Issued Accounting Standards

Subsequent Events

Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Summary Of Significant Accounting Policies [Abstract]

Reorganization Expenses


	December 31, 2020
7.125% Senior unsecured notes - unamortized debt issuance costs	$	2,160
7.750% Senior unsecured notes - unamortized debt issuance costs		5,644
Credit facility - unamortized debt issuance costs		2,172
Debtor in possession credit facility costs		1,554
Rejected leases		8,601
Professional fees		1,485
Total	$	21,616

Liabilities Subject to Compromise


	December 31, 2020
7.125% Senior unsecured notes due 2021	$	800,000
7.750% Senior unsecured notes due 2024		500,000
Accrued interest on senior notes		35,794
Total	$	1,335,794

Schedule Of Inventory




	December 31, 2020		December 31, 2019
Finished goods	$	44,123	$	45,127
Raw materials		11,345		16,130
Work-in-process		6,185		9,360
Supplies and consumables		25,070		33,322
Total	$	86,723	$	103,939

Estimated Useful Lives Of The Related Assets

Buildings and improvements	5	to	40	years
Machinery and equipment	2	to	25	years
Automobiles, trucks, tractors and trailers	3	to	10	years
Furniture and fixtures	2	to	10	years

Summary Of Activity Of Goodwill




	Drilling
	Products
	and Services		Total

Balance, December 31, 2018	$	136,788	$	136,788
Foreign currency translation adjustment		907		907
Balance, December 31, 2019		137,695		137,695
Foreign currency translation adjustment		982		982
Balance, December 31, 2020	$	138,677	$	138,677

Composition Of Intangible And Other Long-term Assets



		December 31,
		2020						2019
	Estimated	Gross		Accumulated		Net		Gross		Accumulated		Net
	Useful Lives	Amount		Amortization		Balance		Amount		Amortization		Balance
Customer relationships	17 years	$	14,592	$	(10,077)	$	4,515	$	19,902	$	(14,680)	$	5,222
Tradenames	10 years		9,045		(6,270)		2,775		8,907		(5,413)		3,494
Non-compete agreements	3 years		3,478		(3,478)		-		3,464		(3,106)		358
Total		$	27,115	$	(19,825)	$	7,290	$	32,273	$	(23,199)	$	9,074

Summary Of The Activity For Company's Decommissioning Liabilities



	December 31,
	2020		2019
Balance at beginning of period	$	136,281	$	130,096
Accretion		6,945		6,332
Liabilities settled		(480)		(147)
Balance at end of period	$	142,746	$	136,281

Chapter 11 Reorganization (Tables)

12 Months Ended

Dec. 31, 2020

Chapter 11 Reorganization [Abstract]

Schedule Of Chapter 11 Reorganization Balance Sheet


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES (DEBTOR IN POSSESSION)
Condensed Combined Balance Sheet
(in thousands)
(Unaudited)

	December 31,
ASSETS	2020
Current assets:
Cash and cash equivalents	$	132,932
Accounts receivable, net of allowance for doubtful accounts of $19,036 at December 31, 2020 ⁽¹⁾		239,962
Income taxes receivable		13,490
Prepaid expenses		20,064
Inventory and other current assets		72,278
Assets held for sale		47,635
Total current assets		526,361

Property, plant and equipment, net of accumulated depreciation and depletion		422,848
Operating lease right-of-use assets		36,893
Notes receivable ⁽²⁾		73,027
Restricted cash		80,133
Intangible and other long-term assets, net of accumulated amortization		49,841
Investment in subsidiaries		3,914,155
Total assets	$	5,103,258


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable ⁽³⁾	$	2,348,756
Accrued expenses		106,730
Current portion of decommissioning liabilities		3,765
Liabilities held for sale		4,079
Total current liabilities		2,463,330

Intra-group notes payable		10,500
Decommissioning liabilities		138,981
Operating lease liabilities		30,184
Deferred income taxes		16,748
Other long-term liabilities		125,176

Total liabilities not subject to compromise		2,784,919

Liabilities subject to compromise		1,335,794

Total stockholders' equity		982,545

Total liabilities and stockholders' equity	$	5,103,258


(1) Includes intra-group receivables in the amount of $111.4 million.
(2) Includes intra-group note receivables in the amount of $0.4 million.
(3) Includes intra-group payables in the amount of $2,315.8 million.

Schedule Of Chapter 11 Reorganization Income Statement


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES (DEBTOR IN POSSESSION)
Condensed Combined Statement of Operations
(in thousands)
(Unaudited)

	Year Ended December 31,
	2020
Revenues:
Revenues	$	627,070
Revenues - affiliates		25,790
Total revenues		652,860
Costs and expenses:
Cost of revenues		421,295
Cost of revenues - affiliates		14,046
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)		435,341
Depreciation, depletion, amortization and accretion		112,395
General and administrative expenses		185,236
Restructuring expense		47,055
Reduction in value of assets		21,049
Income (loss) from operations		(148,216)

Other income (expense):
Interest expense, net (contractual interest $95.8 million)		(93,132)
Reorganization expenses		(21,616)
Other income (expense):		(555)
Loss from continuing operations before income taxes		(263,519)
Income taxes		(1,155)
Net loss from continuing operations		(262,364)
Loss from discontinued operations, net of income tax		(114,882)
Net loss	$	(377,246)

Schedule Of Chapter 11 Reorganization Cash Flows


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES (DEBTOR IN POSSESSION)
Condensed Combined Statement of Cash Flows
(in thousands)
(Unaudited)

	Year Ended December 31,
	2020
Cash flows from operating activities:
Net loss	$	(377,246)

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation, depletion, amortization and accretion		112,395
Deferred income taxes		8,569
Reduction in value of assets		21,049
Reduction in value of assets held for sale		114,213
Right-of-use assets amortization		16,107
Stock-based compensation expense		2,344
Bad debt		12,377
Reorganization items		18,087
Other reconciling items, net		(4,569)
Changes in operating assets and liabilities:
Accounts receivable		96,851
Inventory and other current assets		27,856
Accounts payable		(19,282)
Accrued expenses		(18,089)
Income taxes		(12,208)
Other, net		(3,509)
Net cash used in operating activities		(5,055)

Cash flows from investing activities:
Payments for capital expenditures		(41,179)
Proceeds from sales of assets		49,792
Net cash provided by investing activities		8,613

Cash flows from financing activities:
Delayed draw term loan commitment fee		(12,000)
Debtor in possession credit facility costs		(1,554)
Other		(640)
Net cash used in financing activities		(14,194)

Net change in cash, cash equivalents, and restricted cash		(10,636)
Cash, cash equivalents, and restricted cash at beginning of period		223,702
Cash, cash equivalents, and restricted cash at end of period	$	213,066

Revenue (Tables)

12 Months Ended

Dec. 31, 2020

Revenue [Abstract]

Disaggregation Of Revenues

The following table presents the Company’s revenues by segment disaggregated by geography (in thousands):



	Years Ended December 31,
		2020		2019		2018
U.S. land
Drilling Products and Services	$	78,537	$	178,345	$	176,448
Onshore Completion and Workover Services		130,798		341,297		406,248
Production Services		61,532		138,300		195,363
Technical Solutions		18,652		40,363		31,137
Total U.S. land	$	289,519	$	698,305	$	809,196

U.S. offshore
Drilling Products and Services	$	112,583	$	125,104	$	100,855
Onshore Completion and Workover Services		-		-		-
Production Services		37,478		73,610		66,512
Technical Solutions		83,519		141,851		160,507
Total U.S. offshore	$	233,580	$	340,565	$	327,874

International
Drilling Products and Services	$	90,277	$	108,124	$	106,416
Onshore Completion and Workover Services		-		-		-
Production Services		177,319		193,920		156,650
Technical Solutions		60,612		84,455		78,721
Total International	$	328,208	$	386,499	$	341,787
Total Revenues	$	851,307	$	1,425,369	$	1,478,857

The following table presents the Company’s revenues by segment disaggregated by type (in thousands):



	Years Ended December 31,
		2020		2019		2018
Services
Drilling Products and Services	$	45,226	$	69,958	$	54,997
Onshore Completion and Workover Services		118,948		303,542		364,500
Production Services		215,812		348,168		352,590
Technical Solutions		87,562		163,584		160,942
Total Services	$	467,548	$	885,252	$	933,029

Rentals
Drilling Products and Services	$	198,725	$	291,975	$	281,750
Onshore Completion and Workover Services		11,850		37,755		41,748
Production Services		21,462		32,402		36,568
Technical Solutions		9,195		14,115		20,230
Total Rentals	$	241,232	$	376,247	$	380,296

Product Sales
Drilling Products and Services	$	37,446	$	49,640	$	46,972
Onshore Completion and Workover Services		-		-		-
Production Services		39,055		25,260		29,367
Technical Solutions		66,026		88,970		89,193
Total Product Sales	$	142,527	$	163,870	$	165,532
Total Revenues	$	851,307	$	1,425,369	$	1,478,857

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Operating Lease Expense



	Years Ended December 31,
	2020		2019		2018
Long-term fixed lease expense	$	22,855	$	33,577	$	33,642
Long-term variable lease expense		385		406		749
Short-term lease expense		10,482		17,670		14,367
Total operating lease expense	$	33,722	$	51,653	$	48,758

Supplemental Balance Sheet Information



	December 31, 2020		December 31, 2019
Operating lease ROU assets	$	50,192	$	80,906

Accrued expenses	$	18,491	$	21,072
Operating lease liabilities		40,258		62,354
Total operating lease liabilities	$	58,749	$	83,426

Weighted average remaining lease term		9 years		9 years
Weighted average discount rate		6.35%		6.75%

Cash paid for operating leases	$	26,949	$	34,207
ROU assets obtained in exchange for lease obligations	$	4,206	$	20,200

Maturities Of Operating Lease Liabilities



2021	$	22,310
2022		14,534
2023		10,997
2024		8,276
2025		5,528
Thereafter		23,172
Total lease payments		84,817
Less imputed interest		(26,068)
Total	$	58,749

Property, Plant And Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant And Equipment [Abstract]

Summary Of Property, Plant And Equipment



	December 31,
	2020		2019
Machinery and equipment	$	2,228,539	$	2,425,526
Buildings, improvements and leasehold improvements		227,828		255,719
Automobiles, trucks, tractors and trailers		12,395		22,727
Furniture and fixtures		34,246		40,694
Construction-in-progress		4,793		16,661
Land		53,952		48,534
Oil and gas producing assets		15,117		69,204
Total		2,576,870		2,879,065
Accumulated depreciation and depletion		(2,034,780)		(2,214,116)
Property, plant and equipment, net	$	542,090	$	664,949

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt [Abstract]

Summary Of Long-Term Debt



		December 31, 2020		December 31, 2019
	Stated Interest Rate (%)	Long-term
Senior unsecured notes due September 2024	7.750	$	500,000	$	500,000
Senior unsecured notes due December 2021	7.125		800,000		800,000
Total debt, gross			1,300,000		1,300,000
Reclassification to liabilities subject to compromise			(1,300,000)		-
Unamortized debt issuance costs			-		(13,371)
Total debt, net		$	-	$	1,286,629

Schedule Of Maturities Of Long-Term Debt



2021	$	800,000
2022		-
2023		-
2024		500,000
2025		-
Thereafter		-
Total	$	1,300,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Stock-Based And Long-Term Incentive Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Stock-Based And Long-Term Incentive Compensation [Abstract]

Summary Of Compensation Expense And Tax Benefits



	Years ended December 31,
	2020		2019		2018
Stock options	$	94	$	2,743	$	4,247
Restricted stock units		4,144		15,716		19,828
Cash restricted stock units		(56)		298		-
Cash-based PSUs		(1,554)		935		6,912
Total compensation expense		2,628		19,692		30,987

Related income taxes		610		4,569		7,189
Total compensation expense, net of income taxes	$	2,018	$	15,123	$	23,798

Summary Of The Valuation Assumptions Used To Calculate The Fair Value Of Stock Option Grants



	Years ended December 31,
	2019			2018
Weighted average fair value of stock options granted	$	24.60		$	56.12

Black-Scholes-Merton Assumptions:
Risk free interest rate		2.57	%		2.43
Expected life (years)		6			6
Volatility		56.62	%		51.21

Summary Of Stock Option Activity



	Number of Options	Weighted Average Option Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value ‎(in thousands)
Outstanding at beginning of period	669,360	$	169.11	4.7	$	-
Granted	-	$	-
Exercised	-	$	-
Forfeited	(56,056)	$	63.18
Expired	(145,057)	$	249.23
Outstanding at end of period	468,247	$	156.97	4.5	$	-
Exercisable at end of period	468,247	$	156.97	4.5	$	-
Options expected to vest at end of period	-	$	-	-	$	-

Summary Of Restricted Stock Unit Activity



	Number of RSUs	Weighted Average Grant Date Fair Value
Non-vested at beginning of period	413,966	$	78.32
Granted	-	$	-
Vested	(149,529)	$	93.11
Forfeited	(130,201)	$	59.33
Non-vested at end of period	134,236	$	80.27

Schedule Of ESPP Activity



	Years ended December 31,
	2019		2018
Cash received for shares issued	$	689	$	2,625
Compensation expense	$	122	$	463
Shares issued		532,292		550,950

Schedule Of Deferred Compensation Balances



		December 31,
	Balance sheet location	2020		2019
Deferred compensation assets	Intangible and other long-term assets, net	$	15,013	$	15,499
Deferred compensation liabilities, short-term	Accounts payable	$	2,869	$	1,372
Deferred compensation liabilities, long-term	Other long-term liabilities	$	20,697	$	23,466

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Schedule Of Components Of Income And Loss From Continuing Operations Before Income Taxes



	Years ended December 31,
	2020		2019		2018
Domestic	$	(260,117)	$	(81,443)	$	(448,575)
Foreign		(35,159)		(936)		(21,831)
	$	(295,276)	$	(82,379)	$	(470,406)

Schedule Of Components Of Income Tax Expense (Benefit)



		Years ended December 31,
	2020		2019		2018
Current:
Federal	$	(36,506)	$	-	$	-
State		1,033		1,573		2,118
Foreign		8,498		(3,359)		14,856
		(26,975)		(1,786)		16,974
Deferred:
Federal		17,155		1,792		(66,039)
State		(638)		1,622		(4,161)
Foreign		(3,470)		(6,254)		10,223
		13,047		(2,840)		(59,977)
	$	(13,928)	$	(4,626)	$	(43,003)

Schedule Of Effective Income Tax Rate Reconciliation



	Years ended December 31,
	2020		2019		2018
Computed expected tax benefit	$	(62,008)	$	(17,513)	$	(98,785)
Increase (decrease) resulting from
State and foreign income taxes		12,604		10,970		10,437
Reduction in value of assets		-		(233)		27,680
Valuation allowance		32,890		21,353		-
Other		2,586		(19,203)		17,665
Income tax benefit	$	(13,928)	$	(4,626)	$	(43,003)

Schedule Of Deferred Tax Assets and Liabilities



	December 31,
	2020		2019
Deferred tax assets:
Allowance for doubtful accounts	$	1,713	$	1,291
Operating loss and tax credit carryforwards		150,426		136,647
Compensation and employee benefits		27,625		35,532
Decommissioning liabilities		30,960		29,405
Operating leases		2,792		1,002
Other		34,578		24,903
		248,094		228,780
Valuation allowance		(139,106)		(84,741)
Net deferred tax assets		108,988		144,039

Deferred tax liabilities:
Property, plant and equipment		69,510		114,024
Notes receivable		12,977		12,977
Goodwill and other intangible assets		23,920		20,285
Other		7,869		-
Deferred tax liabilities		114,276		147,286
Net deferred tax liability	$	5,288	$	3,247

Summary Of Activity In Unrecognized Tax Benefits



	Years ended December 31,
	2020		2019		2018
Unrecognized tax benefits at beginning of period	$	13,206	$	30,558	$	30,656
Additions based on tax positions related to prior years		1,757		2,500		1,899
Reductions based on tax positions related to prior years		-		-		(1,864)
Reductions as a result of a lapse of the applicable statute of limitations		(757)		-		(133)
Reductions relating to settlements with taxing authorities		(1,000)		(19,852)		-
Unrecognized tax benefits at end of period	$	13,206	$	13,206	$	30,558

Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Information [Abstract]

Schedule Of Segment Reporting Information



2020

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical		Corporate and		Consolidated
	Services		Services		Services		Solutions		Other		Total
Revenues	$	281,397	$	130,798	$	276,329	$	162,783	$	-	$	851,307
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)		97,894		123,443		230,939		127,853		-		580,129
Depreciation, depletion, amortization
and accretion		61,526		22,301		39,867		19,329		3,770		146,793
General and administrative expenses		51,332		16,326		30,292		44,660		79,855		222,465
Restructuring expense		-		-		-		-		47,055		47,055
Reduction in value of assets		599		1,857		7,558		14,900		1,983		26,897
Income (loss) from operations		70,046		(33,129)		(32,327)		(43,959)		(132,663)		(172,032)
Interest income (expense), net		-		-		-		4,539		(96,938)		(92,399)
Reorganization expenses		-		(1,606)		(490)		-		(19,520)		(21,616)
Other income		-		-		-		-		(9,229)		(9,229)
Income (loss) from continuing operations
before income taxes	$	70,046	$	(34,735)	$	(32,817)	$	(39,420)	$	(258,350)	$	(295,276)



2019

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical		Corporate and		Consolidated
	Services		Services		Services		Solutions		Other		Total
Revenues	$	411,573	$	341,297	$	405,830	$	266,669	$	-	$	1,425,369
Cost of revenues (exclusive of depreciation,
depletion, amortization and accretion)		154,503		274,162		328,527		167,890		-		925,082
Depreciation, depletion, amortization
and accretion		83,999		33,699		51,370		22,665		4,726		196,459
General and administrative expenses		60,094		25,621		29,622		59,587		93,302		268,226
Reduction in value of assets		-		8,122		2,055		7,008		-		17,185
Income (loss) from operations		112,977		(307)		(5,744)		9,519		(98,028)		18,417
Interest income (expense), net		-		-		-		4,172		(102,484)		(98,312)
Other expense		-		-		-		-		(2,484)		(2,484)
Income (loss) from continuing operations
before income taxes	$	112,977	$	(307)	$	(5,744)	$	13,691	$	(202,996)	$	(82,379)



2018

			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical		Corporate and		Consolidated
	Services		Services		Services		Solutions		Other		Total
Revenues	$	383,719	$	406,248	$	418,525	$	270,365	$	-	$	1,478,857
Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)		148,019		315,291		342,420		164,758		-		970,488
Depreciation, depletion, amortization
and accretion		112,111		68,183		66,993		25,653		5,499		278,439
General and administrative expenses		53,688		24,386		41,499		57,600		99,295		276,468
Reduction in value of assets		-		227,801		92,252		-		2,660		322,713
Income (loss) from operations		69,901		(229,413)		(124,639)		22,354		(107,454)		(369,251)
Interest income (expense), net		-		-		-		3,915		(103,392)		(99,477)
Other income		-		-		-		-		(1,678)		(1,678)
Income (loss) from continuing operations
before income taxes	$	69,901	$	(229,413)	$	(124,639)	$	26,269	$	(212,524)	$	(470,406)

Schedule Of Identifiable Assets



Identifiable Assets
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical		Corporate and		Consolidated
	Services		Services		Services		Solutions		Other		Total
December 31, 2020	$	557,469	$	183,065	$	368,185	$	260,339	$	132,021	$	1,501,079
December 31, 2019	$	659,621		467,697	$	421,848	$	377,627	$	66,437	$	1,993,230
December 31, 2018	$	587,264	$	808,037	$	434,430	$	340,161	$	46,070	$	2,215,962

Schedule Of Capital Expenditures, By Segment



Capital Expenditures
			Onshore
	Drilling		Completion
	Products and		and Workover			Production		Technical		Corporate and		Consolidated
	Services		Services		(1)	Services		Solutions		Other		Total
December 31, 2020	$	24,053	$	1,825		$	15,558	$	4,051	$	2,166	$	47,653
December 31, 2019	$	63,252	$	5,830		$	17,009	$	11,377	$	6,254	$	103,722
December 31, 2018	$	46,649	$	39,699		$	8,651	$	16,221	$	2,056	$	113,276

(1)Excludes capital expenditures related to Pumpco of $36.7 million and $108.1 million for the years ended December 31, 2019, and 2018, respectively.

Schedule Of Revenues By Geographic Segment



Revenues
	Years Ended December 31,
	2020		2019		2018
United States	$	523,099	$	1,038,870	$	1,137,070
Other countries		328,208		386,499		341,787
Total	$	851,307	$	1,425,369	$	1,478,857

Long-Lived Assets

	December 31,
	2020		2019
United States	$	387,097	$	489,189
Other countries		154,993		175,760
Total	$	542,090	$	664,949

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Measurements [Abstract]

Summary Of Financial Assets And Liabilities Measured At Fair Value On Recurring Basis




	Fair Value at December 31, 2020
	Level 1		Level 2		Level 3		Total
Intangible and other long-term assets, net:
Non-qualified deferred compensation assets	$	-	$	15,013	$	-	$	15,013
Accounts payable:
Non-qualified deferred compensation liabilities	$	-	$	2,869	$	-	$	2,869
Other long-term liabilities:
Non-qualified deferred compensation liabilities	$	-	$	20,697	$	-	$	20,697
Total debt	$	409,050	$	-	$	-	$	409,050

	Fair Value at December 31, 2019
	Level 1		Level 2		Level 3		Total
Intangible and other long-term assets, net:
Non-qualified deferred compensation assets	$	-	$	15,499	$	-	$	15,499
Accounts payable:
Non-qualified deferred compensation liabilities	$	-	$	1,372	$	-	$	1,372
Other long-term liabilities:
Non-qualified deferred compensation liabilities	$	-	$	23,466	$	-	$	23,466
Total debt	$	1,021,300	$	-	$	-	$	1,021,300

Fair Value Measurements Used in Testing


	Years Ended December 31,
	2020				2019
	Impairment		Fair Value		Impairment		Fair Value
Intangible assets	$	-	$	-	$	7,556	$	-
Property, plant and equipment, net	$	26,897	$	13,593	$	9,629	$	25,000

Reduction in Value of Assets (Tables)

12 Months Ended

Dec. 31, 2020

Reduction In Value Of Assets [Abstract]

Reduction In Value Of Assets


	Years ended December 31,
		2020		2019	2018
Reduction in value of goodwill	$	-	$	-	$	251,826
Reduction in value of long-lived assets		26,897		17,185		70,887
Total reduction in value of assets	$	26,897	$	17,185	$	322,713

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations [Abstract]

Components Of Income (Loss) From Discontinued Operations


	Years ended December 31,
	2020			2019	2018
Revenues	$	521	$	281,452	$	651,408
Cost of services		8,410		272,248		531,616

Loss from discontinued operations before tax		(127,445)		(169,582)		(433,142)
Loss from discontinued operations, net of income tax		(114,882)		(177,968)		(430,712)

Assets And Liabilities Of Disposal Groups




	December 31,
	2020		2019
Current assets:
Accounts receivable, net	$	-	$	25,106
Other current assets		2,155		6,215
Total current assets		2,155		31,321

Property, plant and equipment, net		45,397		179,144
Operating lease ROU assets		83		5,732
Total assets	$	47,635	$	216,197

Current liabilities:
Accounts payable	$	165	$	14,370
Accrued expenses		1,326		24,751
Total current liabilities		1,491		39,121

Operating lease liabilities		2,588		5,415
Other long-term liabilities		-		402
Total liabilities	$	4,079	$	44,938

Schedule Of Cash Flows From Discontinued Operations



	Years ended December 31,
	2020			2019	2018
Cash flows from discontinued operating activities:
Depreciation and amortization	$	-	$	75,077	$	122,409
Reduction in value of assets		114,213		76,577		417,011

Cash flows from discontinued investing activities:
Payments for capital expenditures	$	-	$	(36,743)	$	(108,094)
Proceeds from sales of assets		19,030		1,669		-

Supplemental Guarantor Information (Tables)

12 Months Ended

Dec. 31, 2020

Supplemental Guarantor Information [Abstract]

Condensed Consolidating Balance Sheets



OBLIGOR GROUP
Summarized Balance Sheets Information
(in thousands)

	December 31,
	2020		2019
Current assets	$	377,166	$	789,562
Noncurrent assets		1,079,397		1,134,238
Total assets	$	1,456,563	$	1,923,800

Current liabilities	$	141,676	$	261,743
Noncurrent liabilities		4,282,311		2,039,138
Total liabilities	$	4,423,987	$	2,300,881

Condensed Consolidating Statements of Operations



OBLIGOR GROUP
Summarized Statements of Operations Information
(in thousands)

	Years ended December 31,
	2020		2019
Total revenues	$	641,216	$	1,126,456
Cost of revenues		432,363		723,451

Loss from operations before income taxes		(273,825)		(92,731)
Income taxes		(17,602)		6,102
Net loss from continuing operations		(256,223)		(98,833)
Loss from discontinued operations, net of tax		(114,882)		(177,968)
Net loss attributable to the Obligor Group	$	(371,105)	$	(276,801)

Summary Of Significant Accounting Policies (Narrative) (Details)	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020 USD ($) segment region customer	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Oct. 01, 2020 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of segments \| segment		4
Number of geographic regions of operations \| region		3
Restructuring expense		$ 47,055,000
Reorganization expense		21,616,000
Reorganization expensees, financing activities		1,600,000
Reorganization expenses, operating activities		1,000,000.0
Liabilities subject to compromise		$ 1,335,794,000
RSA, percent of debt held	69.20%
Number of customers exceeding threshhold measurement \| customer		0
Reduction in value of goodwill				$ 251,826,000
Goodwill, Impaired, Accumulated Impairment Loss		$ 2,417,100,000
Amount of notes receivable net		$ 115,000,000
Interest rate percentage to record present value of notes receivable		6.58%
Company recorded interest income		$ 4,500,000	$ 4,200,000	3,900,000
Amortization expense		1,800,000	2,100,000	5,600,000
Amortization of intangible assets exclusive of debt acquisitions costs for 2021		1,000,000.0
Amortization of intangible assets exclusive of debt acquisitions costs for 2022		1,000,000.0
Amortization of intangible assets exclusive of debt acquisitions costs for 2023		1,000,000.0
Amortization of intangible assets exclusive of debt acquisitions costs for 2024		1,000,000.0
Amortization of intangible assets exclusive of debt acquisitions costs for 2025		1,000,000.0
Reduction in carrying value of intangibles			7,556,000
Foreign currency gains (losses)		$ (8,900,000)	(800,000)	(1,900,000)
Valuation, Income Approach [Member]
Summary Of Significant Accounting Policies [Line Items]
Goodwill Impairment, Percentage of method used in determining impairment		80.00%
Valuation, Market Approach [Member]
Summary Of Significant Accounting Policies [Line Items]
Goodwill Impairment, Percentage of method used in determining impairment		20.00%
Onshore Completion And Workover Services [Member]
Summary Of Significant Accounting Policies [Line Items]
Reorganization expense		$ 1,606,000
Reduction in value of goodwill				583,600,000
Reduction in carrying value of intangibles			$ 7,600,000
Production Services [Member]
Summary Of Significant Accounting Policies [Line Items]
Reorganization expense		490,000
Reduction in value of goodwill				$ 85,300,000
Goodwill, Impaired, Accumulated Impairment Loss		0			$ 0
7.125% Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
Senior unsecured notes		$ 800,000,000
Stated interest rate on unsecured senior notes		7.125%
7.750% Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
Senior unsecured notes		$ 500,000,000
Stated interest rate on unsecured senior notes		7.75%

Summary Of Significant Accounting Policies (Reorganization Expenses) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Summary Of Significant Accounting Policies [Line Items]
DIP facility costs	$ 1,554
Rejected leases	8,601
Professional fees	1,485
Total	21,616
7.125% Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
unamortized debt issuance costs	2,160
7.750% Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
unamortized debt issuance costs	5,644
Credit Facility [Member]
Summary Of Significant Accounting Policies [Line Items]
unamortized debt issuance costs	$ 2,172

Summary Of Significant Accounting Policies (Liabilities Subject to Compromise) (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Accrued interest on senior notes	$ 35,794
Total	1,335,794
7.125% Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
Senior unsecured notes	800,000
7.750% Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
Senior unsecured notes	$ 500,000

Summary Of Significant Accounting Policies (Schedule Of Inventory) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Summary Of Significant Accounting Policies [Abstract]
Finished goods	$ 44,123	$ 45,127
Raw materials	11,345	16,130
Work-in-process	6,185	9,360
Supplies and consumables	25,070	33,322
Total	$ 86,723	$ 103,939

Summary Of Significant Accounting Policies (Estimated Useful Lives Of The Related Assets) (Details)	12 Months Ended
	Dec. 31, 2020
Buildings And Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life	5 years
Buildings And Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life	40 years
Machinery And Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life	2 years
Machinery And Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life	25 years
Automobiles, Trucks, Tractors And Trailers [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life	3 years
Automobiles, Trucks, Tractors And Trailers [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life	10 years
Furniture And Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life	2 years
Furniture And Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life	10 years

Summary Of Significant Accounting Policies (Summary Of Activity Of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Beginning Balance	$ 137,695	$ 136,788
Foreign currency translation adjustments	982	907
Ending Balance	138,677	137,695
Drilling Products And Services [Member]
Goodwill [Roll Forward]
Beginning Balance	137,695	136,788
Foreign currency translation adjustments	982	907
Ending Balance	$ 138,677	$ 137,695

Summary Of Significant Accounting Policies (Composition Of Intangible And Other Long-term Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of Intangible Assets by Major Class [Line Items]
Gross Amount	$ 27,115	$ 32,273
Accumulated Amortization	(19,825)	(23,199)
Net Balance	$ 7,290	9,074
Customer Relationships [Member]
Schedule of Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	17 years
Gross Amount	$ 14,592	19,902
Accumulated Amortization	(10,077)	(14,680)
Net Balance	$ 4,515	5,222
Tradenames [Member]
Schedule of Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	10 years
Gross Amount	$ 9,045	8,907
Accumulated Amortization	(6,270)	(5,413)
Net Balance	$ 2,775	3,494
Non-compete [Member]
Schedule of Intangible Assets by Major Class [Line Items]
Estimated Useful Lives	3 years
Gross Amount	$ 3,478	3,464
Accumulated Amortization	(3,478)	(3,106)
Net Balance		$ 358

Summary Of Significant Accounting Policies (Summary Of The Activity For Company's Decommissioning Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Summary Of Significant Accounting Policies [Abstract]
Balance at beginning of period	$ 136,281	$ 130,096
Accretion	6,945	6,332
Liabilities settled	(480)	(147)
Balance at end of period	$ 142,746	$ 136,281

Chapter 11 Reorganization (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reorganization, Chapter 11 [Line Items]
Common stock, par value	$ 0.001	$ 0.001
Allowed claim	$ 125
Common Class A [Member]
Reorganization, Chapter 11 [Line Items]
Common stock, par value	$ 0.01
Rights outstanding	735,189
Proceeds from rights offering	$ 952
7.125% Senior Notes [Member]
Reorganization, Chapter 11 [Line Items]
Stated interest rate on unsecured senior notes	7.125%
7.750% Senior Notes [Member]
Reorganization, Chapter 11 [Line Items]
Stated interest rate on unsecured senior notes	7.75%
Credit Facility [Member]
Reorganization, Chapter 11 [Line Items]
Credit facility, borrowing capacity	$ 120,000

Chapter 11 Reorganization (Schedule Of Chapter 11 Reorganization Balance Sheet) (Details) - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Current assets:

Cash and cash equivalents

$ 188,006

$ 272,624

Accounts receivable, net of allowance for doubtful accounts of $19,036 at December 31, 2020

183,964

332,047

Income taxes receivable

8,891

740

Prepaid expenses

36,651

49,132

Inventory and other current assets

96,141

117,629

Assets held for sale

47,635

216,197

Total current assets

561,288

988,369

Property, plant and equipment, net of accumulated depreciation and depletion

542,090

664,949

Operating lease right-of-use assets

50,192

80,906

$ 100,000

Notes receivable

72,612

68,092

Restricted cash

80,178

2,764

Intangible and other long-term assets, net of accumulated amortization

56,042

50,455

Total assets

1,501,079

1,993,230

2,215,962

Current liabilities:

Accounts payable

55,873

92,966

Accrued expenses

130,332

182,934

Current portion of decommissioning liabilities

3,765

3,649

Liabilities held for sale

4,079

44,938

Total current liabilities

194,049

324,487

Intra-group notes payable

1,286,629

Decommissioning liabilities

138,981

132,632

Operating lease liabilities

40,258

62,354

Deferred income taxes

5,288

3,247

Other long-term liabilities

125,356

134,308

Total liabilities not subject to compromise

503,932

1,943,657

Liabilities Subject to Compromise

1,335,794

Total stockholders’ equity (deficit)

(338,647)

49,573

$ 290,739

$ 1,132,429

Total liabilities and stockholders’ equity (deficit)

1,501,079

$ 1,993,230

Reorganization, Chapter 11, Plan Effect Adjustment [Member]

Current assets:

Cash and cash equivalents

132,932

Accounts receivable, net of allowance for doubtful accounts of $19,036 at December 31, 2020

^[1]

239,962

Income taxes receivable

13,490

Prepaid expenses

20,064

Inventory and other current assets

72,278

Assets held for sale

47,635

Total current assets

526,361

Property, plant and equipment, net of accumulated depreciation and depletion

422,848

Operating lease right-of-use assets

36,893

Notes receivable

^[2]

73,027

Restricted cash

80,133

Intangible and other long-term assets, net of accumulated amortization

49,841

Investments in Subsidiaries

3,914,155

Total assets

5,103,258

Current liabilities:

Accounts payable

^[3]

2,348,756

Accrued expenses

106,730

Current portion of decommissioning liabilities

3,765

Liabilities held for sale

4,079

Total current liabilities

2,463,330

Decommissioning liabilities

138,981

Operating lease liabilities

30,184

Deferred income taxes

16,748

Other long-term liabilities

125,176

Total liabilities not subject to compromise

2,784,919

Liabilities Subject to Compromise

1,335,794

Total stockholders’ equity (deficit)

982,545

Total liabilities and stockholders’ equity (deficit)

5,103,258

Intra-group [Member] | Reorganization, Chapter 11, Plan Effect Adjustment [Member]

Current assets:

Accounts receivable, net of allowance for doubtful accounts of $19,036 at December 31, 2020

111,400

Notes receivable

400

Current liabilities:

Accounts payable

2,315,800

Intra-group notes payable

$ 10,500

[1]	Includes intra-group receivables in the amount of $111.4 million.
[2]	Includes intra-group note receivables in the amount of $0.4 million.
[3]	Includes intra-group payables in the amount of $2,315.8 million.

Chapter 11 Reorganization (Schedule Of Chapter 11 Reorganization Balance Sheet II) (Details) - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

Allowance for doubtful accounts

$ 24,629

$ 12,156

Accounts receivable, net of allowance for doubtful accounts of $24,629 and $12,156 at December 31, 2020 and 2019, respectively

183,964

332,047

Notes receivable

72,612

68,092

Accounts payable

55,873

$ 92,966

Reorganization, Chapter 11, Plan Effect Adjustment [Member]

Allowance for doubtful accounts

19,036

Accounts receivable, net of allowance for doubtful accounts of $24,629 and $12,156 at December 31, 2020 and 2019, respectively

^[1]

239,962

Notes receivable

^[2]

73,027

Accounts payable

^[3]

2,348,756

Reorganization, Chapter 11, Plan Effect Adjustment [Member] | Intra-group [Member]

Accounts receivable, net of allowance for doubtful accounts of $24,629 and $12,156 at December 31, 2020 and 2019, respectively

111,400

Notes receivable

400

Accounts payable

$ 2,315,800

[1]	Includes intra-group receivables in the amount of $111.4 million.
[2]	Includes intra-group note receivables in the amount of $0.4 million.
[3]	Includes intra-group payables in the amount of $2,315.8 million.

Chapter 11 Reorganization (Schedule Of Chapter 11 Reorganization Income Statement) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total revenues	$ 851,307	$ 1,425,369	$ 1,478,857
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	580,129	925,082	970,488
Depreciation, depletion, amortization and accretion	146,793	196,459	278,439
General and administrative expenses	222,465	268,226	276,468
Restructuring expense	47,055
Reduction in value of assets	26,897	17,185	322,713
Income (loss) from operations	(172,032)	18,417	(369,251)
Other income (expense):
Interest expense, net (contractual interest $95.8 million)	(92,399)	(98,312)	(99,477)
Reorganization expenses	(21,616)
Other income (expense)	(9,229)	(2,484)	(1,678)
Loss from continuing operations before income taxes	(295,276)	(82,379)	(470,406)
Income taxes	(13,928)	(4,626)	(43,003)
Net loss from continuing operations	(281,348)	(77,753)	(427,403)
Loss from discontinued operations, net of income tax	(114,882)	(177,968)	(430,712)
Net loss	$ (396,230)	$ (255,721)	$ (858,115)
Basic and diluted loss per share:
Net loss from continuing operations	$ (18.98)	$ (5.05)	$ (27.69)
Loss from discontinued operations	(7.75)	(11.56)	(27.90)
Net loss	$ (26.73)	$ (16.61)	$ (55.59)
Services [Member]
Revenues:
Total revenues	$ 467,548	$ 885,252	$ 933,029
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	388,319	698,150	699,322
Depreciation, depletion, amortization and accretion	80,334	121,805	175,417
Rentals [Member]
Revenues:
Total revenues	241,232	376,247	380,296
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	102,571	128,695	136,135
Depreciation, depletion, amortization and accretion	41,003	59,189	71,661
Product Sales [Member]
Revenues:
Total revenues	142,527	163,870	165,532
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	89,239	98,237	135,031
Depreciation, depletion, amortization and accretion	25,456	$ 15,465	$ 31,361
Reorganization, Chapter 11, Plan Effect Adjustment [Member]
Revenues:
Total revenues	652,860
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	435,341
Depreciation, depletion, amortization and accretion	112,395
General and administrative expenses	185,236
Restructuring expense	47,055
Reduction in value of assets	21,049
Income (loss) from operations	(148,216)
Other income (expense):
Interest expense, net (contractual interest $95.8 million)	(93,132)
Reorganization expenses	(21,616)
Other income (expense)	(555)
Loss from continuing operations before income taxes	(263,519)
Income taxes	(1,155)
Net loss from continuing operations	(262,364)
Loss from discontinued operations, net of income tax	(114,882)
Net loss	(377,246)
Reorganization, Chapter 11, Plan Effect Adjustment [Member] \| Services [Member]
Revenues:
Total revenues	627,070
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	421,295
Reorganization, Chapter 11, Plan Effect Adjustment [Member] \| Rentals [Member]
Revenues:
Total revenues	25,790
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	$ 14,046

Chapter 11 Reorganization (Schedule Of Chapter 11 Reorganization Income Statement II) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Contractual interest expense	$ 95.8
Reorganization, Chapter 11, Plan Effect Adjustment [Member]
Contractual interest expense	$ 95.8

Chapter 11 Reorganization (Schedule Of Chapter 11 Reorganization Cash Flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (396,230)	$ (255,721)	$ (858,115)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	146,793	271,410	400,848
Deferred income taxes	2,041	3,247	(61,058)
Reduction in value of assets	26,897	17,186	322,714
Reduction in value of assets held for sale	114,213	76,577	417,011
Right-of-use assets amortization	20,224	20,613
Stock-based compensation expense	2,628	19,814	31,451
Bad debt	12,473	76	(16,957)
Reorganization items	18,087
Other reconciling items, net	(8,309)	(16,023)	(9,545)
Changes in operating assets and liabilities:
Accounts receivable	111,948	104,462	(33,159)
Inventory and other current assets	27,933	(6,137)	(7,559)
Accounts payable	(35,170)	(12,278)	8,912
Accrued expenses	(18,154)	(37,482)	(21,113)
Other, net	(23,157)	(39,316)	(8,373)
Net cash provided by operating activities	2,217	146,428	165,057
Cash flows from investing activities:
Payments for capital expenditures	(47,653)	(140,465)	(221,370)
Proceeds from sales of assets	50,039	110,008	33,299
Net cash provided by (used in) investing activities	2,386	(30,457)	(188,071)
Cash flows from financing activities:
Delayed draw term loan commitment fee	(12,000)
Debtor in possession credit facility costs	(1,554)
Other	(432)	675	2,613
Net cash used in financing activities	(14,194)	(5,292)	(2,586)
Net change in cash, cash equivalents, and restricted cash	(7,204)	111,640	(28,735)
Cash, cash equivalents, and restricted cash at beginning of period	275,388	163,748	192,483
Cash, cash equivalents, and restricted cash at end of period	268,184	275,388	$ 163,748
Reorganization, Chapter 11, Plan Effect Adjustment [Member]
Cash flows from operating activities:
Net loss	(377,246)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	112,395
Deferred income taxes	8,569
Reduction in value of assets	21,049
Reduction in value of assets held for sale	114,213
Right-of-use assets amortization	16,107
Stock-based compensation expense	2,344
Bad debt	12,377
Reorganization items	18,087
Other reconciling items, net	(4,569)
Changes in operating assets and liabilities:
Accounts receivable	96,851
Inventory and other current assets	27,856
Accounts payable	(19,282)
Accrued expenses	(18,089)
Income taxes	(12,208)
Other, net	(3,509)
Net cash provided by operating activities	(5,055)
Cash flows from investing activities:
Payments for capital expenditures	(41,179)
Proceeds from sales of assets	49,792
Net cash provided by (used in) investing activities	8,613
Cash flows from financing activities:
Delayed draw term loan commitment fee	(12,000)
Debtor in possession credit facility costs	(1,554)
Other	(640)
Net cash used in financing activities	(14,194)
Net change in cash, cash equivalents, and restricted cash	(10,636)
Cash, cash equivalents, and restricted cash at beginning of period	223,702
Cash, cash equivalents, and restricted cash at end of period	$ 213,066	$ 223,702

Revenue (Narrative) (Details)	12 Months Ended
Revenue (Narrative) (Details)	Dec. 31, 2020
Payment term of obligation	30 days
Maximum [Member]
Performance obligation satisfaction period	30 days

Revenue (Disaggregation Of Revenues, By Geography) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total Revenues	$ 851,307	$ 1,425,369	$ 1,478,857
Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	281,397	411,573	383,719
Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	276,329	405,830	418,525
Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	162,783	266,669	270,365
U.S. Land [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	289,519	698,305	809,196
U.S. Land [Member] \| Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	78,537	178,345	176,448
U.S. Land [Member] \| Onshore Completion and Workover Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	130,798	341,297	406,248
U.S. Land [Member] \| Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	61,532	138,300	195,363
U.S. Land [Member] \| Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	18,652	40,363	31,137
U.S. Offshore [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	233,580	340,565	327,874
U.S. Offshore [Member] \| Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	112,583	125,104	100,855
U.S. Offshore [Member] \| Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	37,478	73,610	66,512
U.S. Offshore [Member] \| Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	83,519	141,851	160,507
International [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	328,208	386,499	341,787
International [Member] \| Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	90,277	108,124	106,416
International [Member] \| Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	177,319	193,920	156,650
International [Member] \| Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	$ 60,612	$ 84,455	$ 78,721

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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+ Details

Revenue (Disaggregation Of Revenues, By Type) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total Revenues	$ 851,307	$ 1,425,369	$ 1,478,857
Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	281,397	411,573	383,719
Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	276,329	405,830	418,525
Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	162,783	266,669	270,365
Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	467,548	885,252	933,029
Services [Member] \| Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	45,226	69,958	54,997
Services [Member] \| Onshore Completion and Workover Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	118,948	303,542	364,500
Services [Member] \| Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	215,812	348,168	352,590
Services [Member] \| Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	87,562	163,584	160,942
Rentals [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	241,232	376,247	380,296
Rentals [Member] \| Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	198,725	291,975	281,750
Rentals [Member] \| Onshore Completion and Workover Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	11,850	37,755	41,748
Rentals [Member] \| Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	21,462	32,402	36,568
Rentals [Member] \| Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	9,195	14,115	20,230
Product Sales [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	142,527	163,870	165,532
Product Sales [Member] \| Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	37,446	49,640	46,972
Product Sales [Member] \| Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	39,055	25,260	29,367
Product Sales [Member] \| Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	$ 66,026	$ 88,970	$ 89,193

- Definition

+ References

+ Details

Leases (Narrative) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset	$ 50,192,000	$ 80,906,000	$ 100,000,000.0
Operating Lease, Liability	$ 58,749,000	$ 83,426,000	100,000,000.0
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity impact of adoption			$ 0

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(2)

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(3)

+ Details

Leases (Operating Lease Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Long-term fixed lease expense	$ 22,855	$ 33,577	$ 33,642
Long-term variable lease expense	385	406	749
Short-term lease expense	10,482	17,670	14,367
Total operating lease expense	$ 33,722	$ 51,653	$ 48,758

Leases (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease ROU assets	$ 50,192	$ 80,906	$ 100,000
Accrued expenses	18,491	21,072
Operating lease liabilities	40,258	62,354
Total operating lease liabilities	$ 58,749	$ 83,426	$ 100,000
Weighted average remaining lease term	9 years	9 years
Weighted average discount rate	6.35%	6.75%
Cash paid for operating leases	$ 26,949	$ 34,207
ROU assets obtained in exchange for lease obligations	$ 4,206	$ 20,200

Leases (Maturities Of Operating Lease Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
2021	$ 22,310
2022	14,534
2023	10,997
2024	8,276
2025	5,528
Thereafter	23,172
Total lease payments	84,817
Less imputed interest	(26,068)
Total	$ 58,749	$ 83,426	$ 100,000

Property, Plant and Equipment (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant And Equipment [Abstract]
Leasehold Improvements, Gross	$ 28.9	$ 68.4
Depreciation	$ 133.6	$ 180.2	$ 258.6

Property, Plant and Equipment (Summary Of Property, Plant And Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	$ 2,576,870	$ 2,879,065
Accumulated depreciation and depletion	(2,034,780)	(2,214,116)
Property, plant and equipment, net	542,090	664,949
Machinery And Equipment [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	2,228,539	2,425,526
Buildings, Improvements And Leasehold Improvements [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	227,828	255,719
Automobiles, trucks, tractors and trailers [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	12,395	22,727
Furniture And Fixtures [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	34,246	40,694
Construction in Progress [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	4,793	16,661
Land [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	53,952	48,534
Oil and Gas Producing Assets [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross	$ 15,117	$ 69,204

Debt (Narrative) (Details) $ in Millions	12 Months Ended
Debt (Narrative) (Details) $ in Millions	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Unrestricted cash borrowing base, maximum	$ 75.0
Credit facility, borrowing base	95.0
Liquidity position, cash	242.0
Liquidity position, cash held by non-guarantors	72.0
Possible increase in credit	170.0
Credit facility, availability	$ 20.0
Fronting fee, percent	0.25%
Unused amount fee, percentage	0.50%
Fixed charge coverage ratio	1.0
Percentage of aggregate commitments	15.00%
London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis spread	3.00%
London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis spread	3.50%
Base Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis spread	2.00%
Base Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis spread	2.50%
Letter of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis spread	3.00%
Letter of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis spread	3.50%
Unsecured Senior Notes Due 2024 [Member]
Debt Instrument [Line Items]
Stated interest rate on unsecured senior notes	7.75%
DIP Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity	$ 120.0
Letters of Credit Outstanding, Amount	$ 46.6
7.125% Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate on unsecured senior notes	7.125%

Debt (Summary Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,300,000	$ 1,300,000
Unamortized debt issuance costs		(13,371)
Total debt, net		1,286,629
Reclassification to liabilities subject to compromise	(1,300,000)
Senior Unsecured Notes Due September 2024 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 500,000	500,000
Stated interest rate	7.75%
Senior Unsecured Notes Due December 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 800,000	$ 800,000
Stated interest rate	7.125%

Debt (Schedule Of Maturities Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt [Abstract]
2021	$ 800,000
2022
2023
2024	500,000
2025
Thereafter
Total	$ 1,300,000	$ 1,300,000

Stock-Based And Long-Term Incentive Compensation (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020 USD ($) item shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 USD ($) shares
Stock Based and Long-Term Compensation (Textual) [Abstract]
Exercise of stock options, shares \| shares	0	0	0
Stock split, conversion ratio		0.1
Stock Options [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Shares available for future grants \| shares	0
Share-based payment vesting period, years	3 years
Stock Options [Member] \| Equal Installments [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Share-based payment expiration period, years	10 years
Restricted Stock Units (RSUs) [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Unrecognized compensation expense related to non-vested options oustanding	$ 1,200,000
Restricted Stock Units (RSUs) [Member] \| Equal Installments [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Share-based payment vesting period, years	3 years
Performance Share Units [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Performance period of PSU grant, years	3 years
Performance Share Units Outstanding, in 2020 \| shares	210,398
Performance Share Units Outstanding, in next year \| shares	96,522
Performance Share Units Outstanding, in 2 years \| shares	113,876
KERP [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Number of executive officers associated to KERP \| item	6
KERP [Member] \| Executive Officers [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Retention payments	$ 7,300,000
KERP [Member] \| Non-executive Employees [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Retention payments	$ 2,400,000
ESPP [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Offering period	6 months
401K/Profit Sharing Plan [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Maximum empoyee contribution	75.00%
Company contribution, percent	100.00%
Company discretionary contributions	$ 6,200,000	$ 10,500,000	$ 10,000,000.0
Maximum portion of base salary to defer under non-qualified deferred compensation plan	4.00%
Non-Qualified Deferred Compensation Plans [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Maximum portion of bonus to defer under non-qualified deferred compensation plan	75.00%
Non-employee cash deferred to non-qualified compensation plan	100.00%
Maximum of cash portion of PSU compensation to defer under non-qualified deferred compensation plan	100.00%
Maximum of cash portion of RSU compensation to defer under non-qualified deferred compensation plan	100.00%
Non-employee RSU deferred to non-qualified compensation plan	100.00%
Supplemental Executive Retirement Plan [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Employers Contribution to be received by plan participants, Minimum	5.00%
Employers Contribution to be received by plan participants, Maximum	35.00%
Employers contribution	$ 0	1,100,000	1,200,000
Distribution to select participants	$ 0	$ 2,300,000	$ 0

Stock-Based And Long-Term Incentive Compensation (Summary Of Compensation Expense and Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Compensation expense	$ 2,628	$ 19,692	$ 30,987
Related income taxes	610	4,569	7,189
Total compensation expense, net of income taxes	2,018	15,123	23,798
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Compensation expense	94	2,743	4,247
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Compensation expense	4,144	15,716	19,828
Cash Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Compensation expense	(56)	298
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Compensation expense	$ (1,554)	$ 935	$ 6,912

Stock-Based And Long-Term Incentive Compensation (Summary Of The Valuation Assumptions Used To Calculate The Fair Value Of Stock Option Grants) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average fair value of stock options granted	$ 24.60	$ 56.12
Black-Scholes-Merton Assumptions:
Risk free interest rate	2.57%	2.43%
Expected life (years)	6 years	6 years
Volatility	56.62%	51.21%

Stock-Based And Long-Term Incentive Compensation (Summary Of Stock Option Activity) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summarization of stock option activity
Number of options outstanding, beginning	669,360
Number of options granted	0
Number of options exercised	0	0	0
Number of options forfeited	(56,056)
Number of options expired	(145,057)
Number of options outstanding, ending	468,247	669,360
Number of options exercisable	468,247
Weighted average option price outstanding, beginning	$ 169.11
Weighted average option price granted	0
Weighted average option price excercised	0
Weighted average option price forfeited	63.18
Weighted average option price expired	249.23
Weighted average option price outstanding, ending	156.97	$ 169.11
Weighted average option price exercisable	$ 156.97
Weighted average remaining contractual term, outstanding	4 years 6 months	4 years 8 months 12 days
Weighted average remaining contractual term, exercisable	4 years 6 months

Stock-Based And Long-Term Incentive Compensation (Summary Of Activity Of Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance \| shares	413,966
Shares, vested \| shares	(149,529)
Shares, fofeited \| shares	(130,201)
Ending balance \| shares	134,236
Weighted average grant date fair value, beginning balance \| $ / shares	$ 78.32
Weighted average grant date fair value, vested \| $ / shares	93.11
Weighted average grant date fair value, forfeited \| $ / shares	59.33
Weighted average grant date fair value, ending balance \| $ / shares	$ 80.27

Stock-Based And Long-Term Incentive Compensation (Schedule Of ESPP Activity) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received for shares issued	$ 689	$ 2,625
Compensation expense	$ 2,628	$ 19,692	$ 30,987
Shares issued	532,292	550,950
2013 Employee Stock Purchase Plan Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 122	$ 463

Stock-Based And Long-Term Incentive Compensation (Schedule Of Deferred Compensation Balances) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Stock-Based And Long-Term Incentive Compensation [Abstract]
Deferred compensation assets	$ 15,013	$ 15,499
Deferred compensation liabilities, short-term	2,869	1,372
Deferred compensation liabilities, long-term	$ 20,697	$ 23,466

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Feb. 28, 2021	Jul. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Tax refunds		$ 30,500
Reduction in value of goodwill					$ 251,826
Effect on permanent book-tax basis difference					548,800
Effect on book-tax temporary basis difference					102,000
Goodwill impairment, amortization expense					18,000
Net operating loss carryforwards			$ 274,000
Limitation on operating loss carryforward usage as percent of taxable income			80.00%
Deferred tax assets, various state			$ 15,400
Foreign tax credit carryforward			54,500
Unrecognized tax benefits			13,206	$ 13,206	30,558	$ 30,656
Interest and penalties accrued			5,800	5,000	9,700
Reduction to unrecognized tax benefits, foreign tax audits			1,000	$ 19,852
Increase in valuation allowance			$ 54,000
Subsequent Event [Member]
Tax refunds	$ 8,200
Onshore Completion And Workover Services [Member]
Reduction in value of goodwill					583,600
Onshore Completion And Workover Services [Member] \| Fromer Parent [Member]
Reduction in value of goodwill					668,900
Production Services [Member]
Reduction in value of goodwill					$ 85,300

Income Taxes (Schedule Of Components Of Income And Loss From Continuing Operations Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]
Domestic	$ (260,117)	$ (81,443)	$ (448,575)
Foreign	(35,159)	(936)	(21,831)
Loss from continuing operations before income taxes	$ (295,276)	$ (82,379)	$ (470,406)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes (Schedule Of Components Of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current, federal	$ (36,506)
Current, state	1,033	$ 1,573	$ 2,118
Current, foreign	8,498	(3,359)	14,856
Current, total	(26,975)	(1,786)	16,974
Deferred, federal	17,155	1,792	(66,039)
Deferred, state	(638)	1,622	(4,161)
Deferred, foreign	(3,470)	(6,254)	10,223
Deferred income taxes	13,047	(2,840)	(59,977)
Income tax benefit	$ (13,928)	$ (4,626)	$ (43,003)

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Computed expected tax benefit	$ (62,008)	$ (17,513)	$ (98,785)
State and foreign income taxes	12,604	10,970	10,437
Reduction in value of assets		(233)	27,680
U.S. Tax Reform	32,890	21,353
Other	2,586	(19,203)	17,665
Income tax benefit	$ (13,928)	$ (4,626)	$ (43,003)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes (Schedule Of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Allowance for doubtful accounts	$ 1,713	$ 1,291
Operating loss and tax credit carryforwards	150,426	136,647
Compensation and employee benefits	27,625	35,532
Decommissioning liabilities	30,960	29,405
Operating leases	2,792	1,002
Other	34,578	24,903
Deferred tax assets, gross	248,094	228,780
Valuation allowance	(139,106)	(84,741)
Net deferred tax assets	108,988	144,039
Deferred tax liabilities:
Property, plant and equipment	69,510	114,024
Notes receivable	12,977	12,977
Goodwill and other intangible assets	23,920	20,285
Other	7,869
Deferred tax liabilities	114,276	147,286
Net deferred tax liability	$ 5,288	$ 3,247

Income Taxes (Summary Of Activity In Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at beginning of period	$ 13,206	$ 30,558	$ 30,656
Additions based on tax positions related to prior years	1,757	2,500	1,899
Reductions based on tax positions related to prior years			(1,864)
Reductions as a result of a lapse of the applicable statute of limitations	(757)		(133)
Reductions relating to settlements with taxing authorities	(1,000)	(19,852)
Unrecognized tax benefits at end of period	$ 13,206	$ 13,206	$ 30,558

Segment Information (Narrative) (Details) $ in Thousands	12 Months Ended
Segment Information (Narrative) (Details) $ in Thousands	Dec. 31, 2019 USD ($) item	Dec. 31, 2020 USD ($)
Assets held for sale	$ 216,197	$ 47,635
Property, plant and equipment, gross	2,879,065	2,576,870
Pumpco [Member]
Assets held for sale	$ 216,200	$ 47,600
Drilling Rig Service Line [Member]
Land based drilling rigs \| item	12
Property, plant and equipment, gross	$ 66,200
Proceeds from sale	78,000
Loss on sale of assets	200
Impairment	$ 7,500

- Definition

Amount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer.

+ References + Details

Segment Information (Schedule Of Segment Reporting Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 851,307	$ 1,425,369	$ 1,478,857
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	580,129	925,082	970,488
Depreciation, depletion, amortization and accretion	146,793	196,459	278,439
General and administrative expenses	222,465	268,226	276,468
Reduction in value of assets	26,897	17,185	322,713
Income (loss) from operations	(172,032)	18,417	(369,251)
Interest income (expense), net	(92,399)	(98,312)	(99,477)
Reorganization expenses	(21,616)
Other income (expense)	(9,229)	(2,484)	(1,678)
Loss from operations before income taxes	(295,276)	(82,379)	(470,406)
Drilling Products And Services [Member]
Segment Reporting Information [Line Items]
Total revenues	281,397	411,573	383,719
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	97,894	154,503	148,019
Depreciation, depletion, amortization and accretion	61,526	83,999	112,111
General and administrative expenses	51,332	60,094	53,688
Reduction in value of assets	599
Income (loss) from operations	70,046	112,977	69,901
Loss from operations before income taxes	70,046	112,977	69,901
Onshore Completion And Workover Services [Member]
Segment Reporting Information [Line Items]
Total revenues	130,798	341,297	406,248
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	123,443	274,162	315,291
Depreciation, depletion, amortization and accretion	22,301	33,699	68,183
General and administrative expenses	16,326	25,621	24,386
Reduction in value of assets	1,857	8,122	227,801
Income (loss) from operations	(33,129)	(307)	(229,413)
Reorganization expenses	(1,606)
Loss from operations before income taxes	(34,735)	(307)	(229,413)
Production Services [Member]
Segment Reporting Information [Line Items]
Total revenues	276,329	405,830	418,525
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	230,939	328,527	342,420
Depreciation, depletion, amortization and accretion	39,867	51,370	66,993
General and administrative expenses	30,292	29,622	41,499
Reduction in value of assets	7,558	2,055	92,252
Income (loss) from operations	(32,327)	(5,744)	(124,639)
Reorganization expenses	(490)
Loss from operations before income taxes	(32,817)	(5,744)	(124,639)
Technical Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	162,783	266,669	270,365
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)	127,853	167,890	164,758
Depreciation, depletion, amortization and accretion	19,329	22,665	25,653
General and administrative expenses	44,660	59,587	57,600
Reduction in value of assets	14,900	7,008
Income (loss) from operations	(43,959)	9,519	22,354
Interest income (expense), net	4,539	4,172	3,915
Loss from operations before income taxes	(39,420)	13,691	26,269
Corporate And Other [Member]
Segment Reporting Information [Line Items]
Depreciation, depletion, amortization and accretion	3,770	4,726	5,499
General and administrative expenses	79,855	93,302	99,295
Reduction in value of assets	1,983		2,660
Income (loss) from operations	(132,663)	(98,028)	(107,454)
Interest income (expense), net	(96,938)	(102,484)	(103,392)
Reorganization expenses	(19,520)
Other income (expense)	(9,229)	(2,484)	(1,678)
Loss from operations before income taxes	$ (258,350)	$ (202,996)	$ (212,524)

Segment Information (Schedule Of Identifiable Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 1,501,079	$ 1,993,230	$ 2,215,962
Drilling Products And Services [Member]
Segment Reporting Information [Line Items]
Assets	557,469	659,621	587,264
Onshore Completion And Workover Services [Member]
Segment Reporting Information [Line Items]
Assets	183,065	467,697	808,037
Production Services [Member]
Segment Reporting Information [Line Items]
Assets	368,185	421,848	434,430
Technical Solutions [Member]
Segment Reporting Information [Line Items]
Assets	260,339	377,627	340,161
Corporate And Other [Member]
Segment Reporting Information [Line Items]
Assets	$ 132,021	$ 66,437	$ 46,070

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Segment Information (Schedule Of Capital Expenditures, By Segment) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Segment Reporting Information [Line Items]

Capital Expenditures

$ 47,653

$ 103,722

$ 113,276

Drilling Products And Services [Member]

Segment Reporting Information [Line Items]

Capital Expenditures

24,053

63,252

46,649

Onshore Completion And Workover Services [Member]

Segment Reporting Information [Line Items]

Capital Expenditures

^[1]

1,825

5,830

39,699

Pumpco capital expenditures

36,700

108,100

Production Services [Member]

Segment Reporting Information [Line Items]

Capital Expenditures

15,558

17,009

8,651

Technical Solutions [Member]

Segment Reporting Information [Line Items]

Capital Expenditures

4,051

11,377

16,221

Corporate And Other [Member]

Segment Reporting Information [Line Items]

Capital Expenditures

$ 2,166

$ 6,254

$ 2,056

[1]	Excludes capital expenditures related to Pumpco of $36.7 million and $108.1 million for the years ended December 31, 2019, and 2018, respectively.

Segment Information (Schedule Of Revenues By Geographic Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 851,307	$ 1,425,369	$ 1,478,857
Long-lived assets	542,090	664,949
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	523,099	1,038,870	1,137,070
Long-lived assets	387,097	489,189
International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	328,208	386,499	$ 341,787
Long-lived assets	$ 154,993	$ 175,760

- Definition

+ References

+ Details

Fair Value Measurements (Summary Of Financial Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt	$ 409,050	$ 1,021,300
Non-Qualified Deferred Compensation Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	15,013	15,499
Non-Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable	2,869	1,372
Other long-term liabilities	20,697	23,466
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt	409,050	1,021,300
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt
Level 2 [Member] \| Non-Qualified Deferred Compensation Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	15,013	15,499
Level 2 [Member] \| Non-Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable	2,869	1,372
Other long-term liabilities	20,697	23,466
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt
Level 3 [Member] \| Non-Qualified Deferred Compensation Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets
Level 3 [Member] \| Non-Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable
Other long-term liabilities

Fair Value Measurements (Fair Value Measurements Used in Testing) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value Measurements [Abstract]
Impairment, Goodwill			$ 251,826
Impairment, Intangible assets		$ 7,556
Impairment, Property, plant and equipment, net	$ 26,897	9,629
Fair Value, Property, plant and equipment, net	$ 13,593	$ 25,000

Contingencies (Narrative) (Details) - plaintiff		12 Months Ended
Contingencies (Narrative) (Details) - plaintiff	Apr. 02, 2018	Dec. 31, 2020
Contingencies [Abstract]
Number of people involved in lawsuit		2
Rate of royalty payments invoiced by plaintiffs	25.00%
Rate of royalty payments claimed by plaintiffs	50.00%

Reduction in Value of Assets (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Asset Impairment Charges [Line Items]
Reduction in value of long-lived assets	$ 26,897	$ 17,185	$ 70,887
Reduction in value of assets	26,897	17,185	322,713
Reduction in value of goodwill			251,826
Restructuring Charges	47,055
Reduction in value of assets related to sale of a business		2,600
Drilling Products And Services [Member]
Asset Impairment Charges [Line Items]
Reduction in value of assets	599
Technical Solutions [Member]
Asset Impairment Charges [Line Items]
Reduction in value of assets	14,900	7,008
Production Services [Member]
Asset Impairment Charges [Line Items]
Reduction in value of assets	7,558	2,055	92,252
Reduction in value of goodwill			85,300
Impairment of Intangible Assets (Excluding Goodwill)		1,900
Impairment of Property, Plant and Equipment		5,100
Onshore Completion And Workover Services [Member]
Asset Impairment Charges [Line Items]
Reduction in value of assets	$ 1,857	8,122	227,801
Reduction in value of goodwill			$ 583,600
Impairment of Intangible Assets (Excluding Goodwill)		19,800
Impairment of Property, Plant and Equipment		$ 41,400

Reduction in Value of Assets (Components of the Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reduction In Value Of Assets [Abstract]
Reduction in value of goodwill			$ 251,826
Reduction in value of long-lived assets	$ 26,897	$ 17,185	70,887
Total reduction in value of assets	$ 26,897	$ 17,185	$ 322,713

Discontinued Operations (Components Of Income (Loss) From Discontinued Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of income tax	$ (114,882)	$ (177,968)	$ (430,712)
Pumpco [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	521	281,452	651,408
Cost of services	8,410	272,248	531,616
Loss from discontinued operations before tax	(127,445)	(169,582)	(433,142)
Loss from discontinued operations, net of income tax	$ (114,882)	$ (177,968)	$ (430,712)

- Definition

Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

- Definition

Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=109227538&loc=d3e44648-109337

+ Details

Discontinued Operations (Assets And Liabilities of Disposal Groups) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total assets	$ 47,635	$ 216,197
Total current liabilities	4,079	44,938
Pumpco [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total assets	47,600	216,200
Pumpco [Member] \| Discontinued Operations, Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net		25,106
Other current assets	2,155	6,215
Total current assets	2,155	31,321
Property, plant and equipment, net	45,397	179,144
Operating lease ROU assets	83	5,732
Total assets	47,635	216,197
Accounts payable	165	14,370
Accrued expenses	1,326	24,751
Total current liabilities	1,491	39,121
Operating lease liabilities	2,588	5,415
Other long-term liabilities		402
Total current liabilities	$ 4,079	$ 44,938

Discontinued Operation (Cash Flow Of Discontinued Operations) (Details) - Pumpco [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization		$ 75,077	$ 122,409
Reduction in value of assets	$ 114,213	76,577	417,011
Payments for capital expenditures		(36,743)	$ (108,094)
Proceeds from sales of assets	$ 19,030	$ 1,669

Supplemental Guarantor Information (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Subsidiary ownership	100.00%
Unsecured Senior Notes Due 2024 [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on unsecured senior notes	7.75%

Supplemental Guarantor Information (Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Crrent assets	$ 561,288	$ 988,369
Total assets	1,501,079	1,993,230	$ 2,215,962
Current liabilities	194,049	324,487
Total liabilities not subject to compromise	503,932	1,943,657
Obligor Group [Member]
Condensed Financial Statements, Captions [Line Items]
Crrent assets	377,166	789,562
Noncurrent assets	1,079,397	1,134,238
Total assets	1,456,563	1,923,800
Current liabilities	141,676	261,743
Noncurrent liabilities	4,282,311	2,039,138
Total liabilities not subject to compromise	$ 4,423,987	$ 2,300,881

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References + Details

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.

+ References

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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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- Definition

Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

+ References + Details

- Definition

Amount of obligation due after one year or beyond the normal operating cycle, if longer.

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Supplemental Guarantor Information (Condensed Consolidating Statements of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Total Revenues	$ 851,307	$ 1,425,369	$ 1,478,857
Cost or revenues	580,129	925,082	970,488
Loss from operations before income taxes	(295,276)	(82,379)	(470,406)
Income taxes	(13,928)	(4,626)	(43,003)
Net loss from continuing operations	(281,348)	(77,753)	(427,403)
Loss from discontinued operations, net of income tax	(114,882)	(177,968)	(430,712)
Net loss	(396,230)	(255,721)	$ (858,115)
Obligor Group [Member]
Condensed Financial Statements, Captions [Line Items]
Total Revenues	641,216	1,126,456
Cost or revenues	432,363	723,451
Loss from operations before income taxes	(273,825)	(92,731)
Income taxes	(17,602)	6,102
Net loss from continuing operations	(256,223)	(98,833)
Loss from discontinued operations, net of income tax	(114,882)	(177,968)
Net loss	$ (371,105)	$ (276,801)

Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest.

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Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation Allowances and Reserves, Balance, Beginning Balance	$ 12,156	$ 12,080	$ 29,037
Valuation Allowances and Reserves, Charged to Costs and Expenses	14,587	3,006	3,569
Valuation Allowances and Reserves, Deductions	2,114	2,930	20,526
Valuation Allowances and Reserves, Balance, Ending Balance	$ 24,629	$ 12,156	$ 12,080