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SPN Superior Energy Services

Document And Entity Information

Document And Entity Information - USD ($)12 Months Ended
Dec. 31, 2020Mar. 24, 2021
Document And Entity Information [Abstract]
Document Type10-K
Document Annual Reporttrue
Current Fiscal Year End Date--12-31
Document Period End DateDec. 31,
2020
Document Transition Reportfalse
Entity File Number001-34037
Entity Registrant NameSUPERIOR ENERGY SERVICES, INC.
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number75-2379388
Entity Address, Address Line One1001 Louisiana Street
Entity Address, Address Line TwoSuite 2900
Entity Address, City or TownHouston
Entity Address, State or ProvinceTX
Entity Address, Postal Zip Code77002
City Area Code713
Local Phone Number654-2200
Entity Well-known Seasoned IssuerNo
Entity Voluntary FilersNo
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
ICFR Auditor Attestation Flagfalse
Entity Shell Companyfalse
Entity Public Float $ 0
Entity Common Stock, Shares Outstanding19,967,898
Documents Incorporated by Reference [Text Block]DOCUMENTS INCORPORATED BY REFERENCE Not applicable.
Entity Central Index Key0000886835
Document Fiscal Year Focus2020
Document Fiscal Period FocusFY
Amendment Flagfalse

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in ThousandsDec. 31, 2020Dec. 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, respectively183,964 332,047
Income taxes receivable8,891 740
Prepaid expenses36,651 49,132
Inventory and other current assets96,141 117,629
Assets held for sale47,635 216,197
Total current assets561,288 988,369
Property, plant and equipment, net of accumulated depreciation and depletion542,090 664,949
Operating lease right-of-use assets50,192 80,906
Goodwill138,677 137,695
Notes receivable72,612 68,092
Restricted cash80,178 2,764
Intangible and other long-term assets, net of accumulated amortization56,042 50,455
Total assets1,501,079 1,993,230
Current liabilities:
Accounts payable55,873 92,966
Accrued expenses130,332 182,934
Current portion of decommissioning liabilities3,765 3,649
Liabilities held for sale4,079 44,938
Total current liabilities194,049 324,487
Long-term debt, net1,286,629
Decommissioning liabilities138,981 132,632
Operating lease liabilities40,258 62,354
Deferred income taxes5,288 3,247
Other long-term liabilities125,356 134,308
Total liabilities not subject to compromise503,932 1,943,657
Liabilities Subject to Compromise1,335,794
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, 201916 16
Additional paid in capital2,756,889 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 (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in ThousandsDec. 31, 2020Dec. 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 authorized5,000,000 5,000,000
Preferred stock, shares issued0 0
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized25,000,000 25,000,000
Common stock, shares issued15,799,318 15,689,463
Common stock, shares outstanding14,826,906 14,717,051
Treasury stock at cost, shares972,412 972,412

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 accretion146,793 196,459 278,439
General and administrative expenses222,465 268,226 276,468
Restructuring expense47,055
Reduction in value of assets26,897 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 outstanding14,822 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 accretion80,334 121,805 175,417
Rentals [Member]
Revenues:
Total revenues241,232 376,247 380,296
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)102,571 128,695 136,135
Depreciation, depletion, amortization and accretion41,003 59,189 71,661
Product Sales [Member]
Revenues:
Total revenues142,527 163,870 165,532
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 Op_2

Consolidated Statements Of Operations (Parenthetical) $ in Millions12 Months Ended
Dec. 31, 2020USD ($)
Consolidated Statements of Operations [Abstract]
Contractual interest expense $ 95.8

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Loss - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Consolidated Statements of Comprehensive Loss [Abstract]
Net loss $ (396,230) $ (255,721) $ (858,115)
Change in cumulative translation adjustment, net of tax3,980 1,250 (5,750)
Comprehensive loss $ (392,250) $ (254,471) $ (863,865)

Consolidated Statements Of Chan

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, 2017153,263,097
Net loss(858,115,000)(858,115,000)
Foreign currency translation adjustment(5,750,000)(5,750,000)
Forfeited dividends209,000 209,000
Stock-based compensation expense, net of forfeitures24,076,000 24,076,000
Transactions under stock plans $ 2,000 (5,200,000)(5,198,000)
Transactions under stock plans, shares1,071,371
Shares issued under Employee Stock Purchase Plan, value3,088,000 3,088,000
Shares issued under Employee Stock Purchase Plan, shares550,950
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, 2018154,885,418
Net loss(255,721,000)(255,721,000)
Foreign currency translation adjustment1,250,000 1,250,000
Purchases of treasury stock $ (4,290,000)(4,290,000)
Stock-based compensation expense, net of forfeitures18,459,000 18,459,000
Transactions under stock plans $ 2,000 (1,677,000)(1,675,000)
Transactions under stock plans, shares1,187,961
Shares issued under Employee Stock Purchase Plan, value $ 532,292 811,000 $ 811,000
Shares issued under Employee Stock Purchase Plan, shares550,950
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, 201915,689,463
Net loss(396,230,000)(396,230,000)
Foreign currency translation adjustment3,980,000 3,980,000
Stock-based compensation expense, net of forfeitures4,238,000 4,238,000
Transactions under stock plans(208,000) $ (208,000)
Transactions under stock plans, shares109,855
Shares issued under Employee Stock Purchase Plan, shares532,292
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, 202015,799,318

Consolidated Statements Of Ch_2

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 ratio0.1

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 accretion146,793 271,410 400,848
Deferred income taxes2,041 3,247 (61,058)
Reduction in value of assets26,897 17,186 322,714
Reduction in value of assets held for sale114,213 76,577 417,011
Right-of-use assets amortization20,224 20,613
Stock-based compensation expense2,628 19,814 31,451
Bad debt12,473 76 (16,957)
Reorganization items18,087
Other reconciling items, net(8,309)(16,023)(9,545)
Changes in operating assets and liabilities:
Accounts receivable111,948 104,462 (33,159)
Inventory and other current assets27,933 (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 activities2,217 146,428 165,057
Cash flows from investing activities:
Payments for capital expenditures(47,653)(140,465)(221,370)
Proceeds from sales of assets50,039 110,008 33,299
Net cash provided by (used in) investing activities2,386 (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 cash2,387 961 (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 period275,388 163,748 192,483
Cash, cash equivalents, and restricted cash at end of period268,184 275,388 163,748
Cash Payments:
Interest paid72,558 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 Accounti

Summary Of Significant Accounting Policies12 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 it s 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

Chapter 11 Reorganization12 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

Revenue12 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

Leases

Leases12 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

Property, Plant And Equipment12 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

Debt12 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 15 of 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 Incen

Stock-Based And Long-Term Incentive Compensation12 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 no t 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 no t 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

Income Taxes12 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.

Segment Information

Segment Information12 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

Fair Value Measurements

Fair Value Measurements12 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.

Contingencies

Contingencies12 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

Reduction in Value of Assets12 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

Discontinued Operations12 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 Informat

Supplemental Guarantor Information12 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 Accoun

Valuation and Qualifying Accounts12 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 Accoun_2

Summary Of Significant Accounting Policies (Policy)12 Months Ended
Dec. 31, 2020
Summary Of Significant Accounting Policies [Abstract]
Basis of Presentation 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.
BusinessBusiness 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 CasesChapter 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 EstimatesUse 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 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 it s exposure to credit risks for deposits in excess of federally insured amounts.
Cash EquivalentsCash 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 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 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 EquipmentProperty, 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 AssetsReduction 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.
GoodwillGoodwill 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 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 CashRestricted 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 AssetsIntangible 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 LiabilitiesDecommissioning 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 TaxesIncome 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 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 CurrencyForeign 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 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 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 PronouncementsNew 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 EventsSubsequent 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

Summary Of Significant Accoun_3

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 AssetsBuildings 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 (Tabl

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)

Revenue (Tables)12 Months Ended
Dec. 31, 2020
Revenue [Abstract]
Disaggregation Of RevenuesThe 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)

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 (

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)

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

Stock-Based And Long-Term Inc_2

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)

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)

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

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 (T

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

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 Inform_2

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 Accoun_4

Summary Of Significant Accounting Policies (Narrative) (Details)3 Months Ended12 Months Ended
Sep. 30, 2020Dec. 31, 2020USD ($)customersegmentregionDec. 31, 2019USD ($)Dec. 31, 2018USD ($)Oct. 01, 2020USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of segments | segment4
Number of geographic regions of operations | region3
Restructuring expense $ 47,055,000
Reorganization expense21,616,000
Reorganization expensees, financing activities1,600,000
Reorganization expenses, operating activities1,000,000
Liabilities subject to compromise $ 1,335,794,000
RSA, percent of debt held69.20%
Number of customers exceeding threshhold measurement | customer0
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 receivable6.58%
Company recorded interest income $ 4,500,000 $ 4,200,000 3,900,000
Amortization expense1,800,000 2,100,000 5,600,000
Amortization of intangible assets exclusive of debt acquisitions costs for 20211,000,000
Amortization of intangible assets exclusive of debt acquisitions costs for 20221,000,000
Amortization of intangible assets exclusive of debt acquisitions costs for 20231,000,000
Amortization of intangible assets exclusive of debt acquisitions costs for 20241,000,000
Amortization of intangible assets exclusive of debt acquisitions costs for 20251,000,000
Reduction in carrying value of intangibles7,556,000
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 impairment80.00%
Valuation, Market Approach [Member]
Summary Of Significant Accounting Policies [Line Items]
Goodwill Impairment, Percentage of method used in determining impairment20.00%
Onshore Completion And Workover Services [Member]
Summary Of Significant Accounting Policies [Line Items]
Reorganization expense $ 1,606,000
Reduction in value of goodwill583,600,000
Reduction in carrying value of intangibles $ 7,600,000
Production Services [Member]
Summary Of Significant Accounting Policies [Line Items]
Reorganization expense490,000
Reduction in value of goodwill $ 85,300,000
Goodwill, Impaired, Accumulated Impairment Loss0 $ 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 notes7.125%
7.750% Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
Senior unsecured notes $ 500,000,000
Stated interest rate on unsecured senior notes7.75%

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Reorganization Expenses) (Details) $ in Thousands12 Months Ended
Dec. 31, 2020USD ($)
Summary Of Significant Accounting Policies [Line Items]
DIP facility costs $ 1,554
Rejected leases8,601
Professional fees1,485
Total21,616
7.125% Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
unamortized debt issuance costs2,160
7.750% Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
unamortized debt issuance costs5,644
Credit Facility [Member]
Summary Of Significant Accounting Policies [Line Items]
unamortized debt issuance costs $ 2,172

Summary Of Significant Accoun_6

Summary Of Significant Accounting Policies (Liabilities Subject to Compromise) (Details) $ in ThousandsDec. 31, 2020USD ($)
Summary Of Significant Accounting Policies [Line Items]
Accrued interest on senior notes $ 35,794
Total1,335,794
7.125% Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
Senior unsecured notes800,000
7.750% Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
Senior unsecured notes $ 500,000

Summary Of Significant Accoun_7

Summary Of Significant Accounting Policies (Schedule Of Inventory) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Summary Of Significant Accounting Policies [Abstract]
Finished goods $ 44,123 $ 45,127
Raw materials11,345 16,130
Work-in-process6,185 9,360
Supplies and consumables25,070 33,322
Total $ 86,723 $ 103,939

Summary Of Significant Accoun_8

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 life5 years
Buildings And Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life40 years
Machinery And Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life2 years
Machinery And Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life25 years
Automobiles, Trucks, Tractors And Trailers [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life3 years
Automobiles, Trucks, Tractors And Trailers [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life10 years
Furniture And Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life2 years
Furniture And Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, useful life10 years

Summary Of Significant Accoun_9

Summary Of Significant Accounting Policies (Summary Of Activity Of Goodwill) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Goodwill [Roll Forward]
Beginning Balance $ 137,695 $ 136,788
Foreign currency translation adjustments982 907
Ending Balance138,677 137,695
Drilling Products And Services [Member]
Goodwill [Roll Forward]
Beginning Balance137,695 136,788
Foreign currency translation adjustments982 907
Ending Balance $ 138,677 $ 137,695

Summary Of Significant Accou_10

Summary Of Significant Accounting Policies (Composition Of Intangible And Other Long-term Assets) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 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 Lives17 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 Lives10 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 Lives3 years
Gross Amount $ 3,478 3,464
Accumulated Amortization(3,478)(3,106)
Net Balance $ 358

Summary Of Significant Accou_11

Summary Of Significant Accounting Policies (Summary Of The Activity For Company's Decommissioning Liabilities) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019
Summary Of Significant Accounting Policies [Abstract]
Balance at beginning of period $ 136,281 $ 130,096
Accretion6,945 6,332
Liabilities settled(480)(147)
Balance at end of period $ 142,746 $ 136,281

Chapter 11 Reorganization (Narr

Chapter 11 Reorganization (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 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 outstanding735,189
Proceeds from rights offering $ 952
7.125% Senior Notes [Member]
Reorganization, Chapter 11 [Line Items]
Stated interest rate on unsecured senior notes7.125%
7.750% Senior Notes [Member]
Reorganization, Chapter 11 [Line Items]
Stated interest rate on unsecured senior notes7.75%
Credit Facility [Member]
Reorganization, Chapter 11 [Line Items]
Credit facility, borrowing capacity $ 120,000

Chapter 11 Reorganization (Sche

Chapter 11 Reorganization (Schedule Of Chapter 11 Reorganization Balance Sheet) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019Dec. 31, 2018Dec. 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, 2020183,964 332,047
Income taxes receivable8,891 740
Prepaid expenses36,651 49,132
Inventory and other current assets96,141 117,629
Assets held for sale47,635 216,197
Total current assets561,288 988,369
Property, plant and equipment, net of accumulated depreciation and depletion542,090 664,949
Operating lease right-of-use assets50,192 80,906 $ 100,000
Notes receivable72,612 68,092
Restricted cash80,178 2,764
Intangible and other long-term assets, net of accumulated amortization56,042 50,455
Total assets1,501,079 1,993,230 2,215,962
Current liabilities:
Accounts payable55,873 92,966
Accrued expenses130,332 182,934
Current portion of decommissioning liabilities3,765 3,649
Liabilities held for sale4,079 44,938
Total current liabilities194,049 324,487
Intra-group notes payable1,286,629
Decommissioning liabilities138,981 132,632
Operating lease liabilities40,258 62,354
Deferred income taxes5,288 3,247
Other long-term liabilities125,356 134,308
Total liabilities not subject to compromise503,932 1,943,657
Liabilities Subject to Compromise1,335,794
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 equivalents132,932
Accounts receivable, net of allowance for doubtful accounts of $19,036 at December 31, 2020[1]239,962
Income taxes receivable13,490
Prepaid expenses20,064
Inventory and other current assets72,278
Assets held for sale47,635
Total current assets526,361
Property, plant and equipment, net of accumulated depreciation and depletion422,848
Operating lease right-of-use assets36,893
Notes receivable[2]73,027
Restricted cash80,133
Intangible and other long-term assets, net of accumulated amortization49,841
Investments in Subsidiaries3,914,155
Total assets5,103,258
Current liabilities:
Accounts payable[3]2,348,756
Accrued expenses106,730
Current portion of decommissioning liabilities3,765
Liabilities held for sale4,079
Total current liabilities2,463,330
Decommissioning liabilities138,981
Operating lease liabilities30,184
Deferred income taxes16,748
Other long-term liabilities125,176
Total liabilities not subject to compromise2,784,919
Liabilities Subject to Compromise1,335,794
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, 2020111,400
Notes receivable400
Current liabilities:
Accounts payable2,315,800
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 (Sc_2

Chapter 11 Reorganization (Schedule Of Chapter 11 Reorganization Balance Sheet II) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 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, respectively183,964 332,047
Notes receivable72,612 68,092
Accounts payable55,873 $ 92,966
Reorganization, Chapter 11, Plan Effect Adjustment [Member]
Allowance for doubtful accounts19,036
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, respectively111,400
Notes receivable400
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 (Sc_3

Chapter 11 Reorganization (Schedule Of Chapter 11 Reorganization Income Statement) (Details) - USD ($) $ / shares in Units, $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 accretion146,793 196,459 278,439
General and administrative expenses222,465 268,226 276,468
Restructuring expense47,055
Reduction in value of assets26,897 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 accretion80,334 121,805 175,417
Rentals [Member]
Revenues:
Total revenues241,232 376,247 380,296
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)102,571 128,695 136,135
Depreciation, depletion, amortization and accretion41,003 59,189 71,661
Product Sales [Member]
Revenues:
Total revenues142,527 163,870 165,532
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)89,239 98,237 135,031
Depreciation, depletion, amortization and accretion25,456 $ 15,465 $ 31,361
Reorganization, Chapter 11, Plan Effect Adjustment [Member]
Revenues:
Total revenues652,860
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)435,341
Depreciation, depletion, amortization and accretion112,395
General and administrative expenses185,236
Restructuring expense47,055
Reduction in value of assets21,049
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 revenues627,070
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 revenues25,790
Costs and expenses:
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion) $ 14,046

Chapter 11 Reorganization (Sc_4

Chapter 11 Reorganization (Schedule Of Chapter 11 Reorganization Income Statement II) (Details) $ in Millions12 Months Ended
Dec. 31, 2020USD ($)
Contractual interest expense $ 95.8
Reorganization, Chapter 11, Plan Effect Adjustment [Member]
Contractual interest expense $ 95.8

Chapter 11 Reorganization (Sc_5

Chapter 11 Reorganization (Schedule Of Chapter 11 Reorganization Cash Flows) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 accretion146,793 271,410 400,848
Deferred income taxes2,041 3,247 (61,058)
Reduction in value of assets26,897 17,186 322,714
Reduction in value of assets held for sale114,213 76,577 417,011
Right-of-use assets amortization20,224 20,613
Stock-based compensation expense2,628 19,814 31,451
Bad debt12,473 76 (16,957)
Reorganization items18,087
Other reconciling items, net(8,309)(16,023)(9,545)
Changes in operating assets and liabilities:
Accounts receivable111,948 104,462 (33,159)
Inventory and other current assets27,933 (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 activities2,217 146,428 165,057
Cash flows from investing activities:
Payments for capital expenditures(47,653)(140,465)(221,370)
Proceeds from sales of assets50,039 110,008 33,299
Net cash provided by (used in) investing activities2,386 (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 period275,388 163,748 192,483
Cash, cash equivalents, and restricted cash at end of period268,184 275,388 $ 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 accretion112,395
Deferred income taxes8,569
Reduction in value of assets21,049
Reduction in value of assets held for sale114,213
Right-of-use assets amortization16,107
Stock-based compensation expense2,344
Bad debt12,377
Reorganization items18,087
Other reconciling items, net(4,569)
Changes in operating assets and liabilities:
Accounts receivable96,851
Inventory and other current assets27,856
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 assets49,792
Net cash provided by (used in) investing activities8,613
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 period223,702
Cash, cash equivalents, and restricted cash at end of period $ 213,066 $ 223,702

Revenue (Narrative) (Details)

Revenue (Narrative) (Details)12 Months Ended
Dec. 31, 2020
Payment term of obligation30 days
Maximum [Member]
Performance obligation satisfaction period30 days

Revenue (Disaggregation Of Reve

Revenue (Disaggregation Of Revenues, By Geography) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 Revenues281,397 411,573 383,719
Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues276,329 405,830 418,525
Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues162,783 266,669 270,365
U.S. Land [Member]
Disaggregation of Revenue [Line Items]
Total Revenues289,519 698,305 809,196
U.S. Land [Member] | Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues78,537 178,345 176,448
U.S. Land [Member] | Onshore Completion and Workover Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues130,798 341,297 406,248
U.S. Land [Member] | Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues61,532 138,300 195,363
U.S. Land [Member] | Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues18,652 40,363 31,137
U.S. Offshore [Member]
Disaggregation of Revenue [Line Items]
Total Revenues233,580 340,565 327,874
U.S. Offshore [Member] | Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues112,583 125,104 100,855
U.S. Offshore [Member] | Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues37,478 73,610 66,512
U.S. Offshore [Member] | Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues83,519 141,851 160,507
International [Member]
Disaggregation of Revenue [Line Items]
Total Revenues328,208 386,499 341,787
International [Member] | Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues90,277 108,124 106,416
International [Member] | Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues177,319 193,920 156,650
International [Member] | Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues $ 60,612 $ 84,455 $ 78,721

Revenue (Disaggregation Of Re_2

Revenue (Disaggregation Of Revenues, By Type) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 Revenues281,397 411,573 383,719
Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues276,329 405,830 418,525
Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues162,783 266,669 270,365
Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues467,548 885,252 933,029
Services [Member] | Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues45,226 69,958 54,997
Services [Member] | Onshore Completion and Workover Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues118,948 303,542 364,500
Services [Member] | Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues215,812 348,168 352,590
Services [Member] | Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues87,562 163,584 160,942
Rentals [Member]
Disaggregation of Revenue [Line Items]
Total Revenues241,232 376,247 380,296
Rentals [Member] | Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues198,725 291,975 281,750
Rentals [Member] | Onshore Completion and Workover Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues11,850 37,755 41,748
Rentals [Member] | Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues21,462 32,402 36,568
Rentals [Member] | Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues9,195 14,115 20,230
Product Sales [Member]
Disaggregation of Revenue [Line Items]
Total Revenues142,527 163,870 165,532
Product Sales [Member] | Drilling Products And Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues37,446 49,640 46,972
Product Sales [Member] | Production Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues39,055 25,260 29,367
Product Sales [Member] | Technical Solutions [Member]
Disaggregation of Revenue [Line Items]
Total Revenues $ 66,026 $ 88,970 $ 89,193

Leases (Narrative) (Details)

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

Leases (Operating Lease Expense

Leases (Operating Lease Expense) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Leases [Abstract]
Long-term fixed lease expense $ 22,855 $ 33,577 $ 33,642
Long-term variable lease expense385 406 749
Short-term lease expense10,482 17,670 14,367
Total operating lease expense $ 33,722 $ 51,653 $ 48,758

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Leases [Abstract]
Operating lease ROU assets $ 50,192 $ 80,906 $ 100,000
Accrued expenses18,491 21,072
Operating lease liabilities40,258 62,354
Total operating lease liabilities $ 58,749 $ 83,426 $ 100,000
Weighted average remaining lease term9 years9 years
Weighted average discount rate6.35%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

Leases (Maturities Of Operating Lease Liabilities) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Leases [Abstract]
2021 $ 22,310
202214,534
202310,997
20248,276
20255,528
Thereafter23,172
Total lease payments84,817
Less imputed interest(26,068)
Total $ 58,749 $ 83,426 $ 100,000

Property, Plant and Equipment_2

Property, Plant and Equipment (Narrative) (Details) - USD ($) $ in Millions12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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_3

Property, Plant and Equipment (Summary Of Property, Plant And Equipment) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 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, net542,090 664,949
Machinery And Equipment [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross2,228,539 2,425,526
Buildings, Improvements And Leasehold Improvements [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross227,828 255,719
Automobiles, trucks, tractors and trailers [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross12,395 22,727
Furniture And Fixtures [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross34,246 40,694
Construction in Progress [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross4,793 16,661
Land [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant and equipment, gross53,952 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)

Debt (Narrative) (Details) $ in Millions12 Months Ended
Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Unrestricted cash borrowing base, maximum $ 75
Credit facility, borrowing base95
Liquidity position, cash242
Liquidity position, cash held by non-guarantors72
Possible increase in credit170
Credit facility, availability $ 20
Fronting fee, percent0.25%
Unused amount fee, percentage0.50%
Fixed charge coverage ratio1
Percentage of aggregate commitments15.00%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread3.00%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread3.50%
Base Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread2.00%
Base Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread2.50%
Letter of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread3.00%
Letter of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread3.50%
Unsecured Senior Notes Due 2024 [Member]
Debt Instrument [Line Items]
Stated interest rate on unsecured senior notes7.75%
DIP Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity $ 120
Letters of Credit Outstanding, Amount $ 46.6
7.125% Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate on unsecured senior notes7.125%

Debt (Summary Of Long-Term Debt

Debt (Summary Of Long-Term Debt) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross $ 1,300,000 $ 1,300,000
Unamortized debt issuance costs(13,371)
Total debt, net1,286,629
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 rate7.75%
Senior Unsecured Notes Due December 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, gross $ 800,000 $ 800,000
Stated interest rate7.125%

Debt (Schedule Of Maturities Of

Debt (Schedule Of Maturities Of Long-Term Debt) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Debt [Abstract]
2021 $ 800,000
2022
2023
2024500,000
2025
Thereafter
Total $ 1,300,000 $ 1,300,000

Stock-Based And Long-Term Inc_3

Stock-Based And Long-Term Incentive Compensation (Narrative) (Details)12 Months Ended
Dec. 31, 2020USD ($)itemsharesDec. 31, 2019USD ($)sharesDec. 31, 2018USD ($)shares
Stock Based and Long-Term Compensation (Textual) [Abstract]
Exercise of stock options, shares | shares0 0 0
Stock split, conversion ratio0.1
Stock Options [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Shares available for future grants | shares0
Share-based payment vesting period, years3 years
Stock Options [Member] | Equal Installments [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Share-based payment expiration period, years10 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, years3 years
Performance Share Units [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Performance period of PSU grant, years3 years
Performance Share Units Outstanding, in 2020 | shares210,398
Performance Share Units Outstanding, in next year | shares96,522
Performance Share Units Outstanding, in 2 years | shares113,876
KERP [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Number of executive officers associated to KERP | item6
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 period6 months
401K/Profit Sharing Plan [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Maximum empoyee contribution75.00%
Company contribution, percent100.00%
Company discretionary contributions $ 6,200,000 $ 10,500,000 $ 10,000,000
Maximum portion of base salary to defer under non-qualified deferred compensation plan4.00%
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 plan75.00%
Non-employee cash deferred to non-qualified compensation plan100.00%
Maximum of cash portion of PSU compensation to defer under non-qualified deferred compensation plan100.00%
Maximum of cash portion of RSU compensation to defer under non-qualified deferred compensation plan100.00%
Non-employee RSU deferred to non-qualified compensation plan100.00%
Supplemental Executive Retirement Plan [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Employers Contribution to be received by plan participants, Minimum5.00%
Employers Contribution to be received by plan participants, Maximum35.00%
Employers contribution $ 0 1,100,000 1,200,000
Distribution to select participants $ 0 $ 2,300,000 $ 0

Stock-Based And Long-Term Inc_4

Stock-Based And Long-Term Incentive Compensation (Summary Of Compensation Expense and Tax Benefits) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 taxes610 4,569 7,189
Total compensation expense, net of income taxes2,018 15,123 23,798
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Compensation expense94 2,743 4,247
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Compensation expense4,144 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 Inc_5

Stock-Based And Long-Term Incentive Compensation (Summary Of The Valuation Assumptions Used To Calculate The Fair Value Of Stock Option Grants) (Details) - $ / shares12 Months Ended
Dec. 31, 2019Dec. 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 rate2.57%2.43%
Expected life (years)6 years6 years
Volatility56.62%51.21%

Stock-Based And Long-Term Inc_6

Stock-Based And Long-Term Incentive Compensation (Summary Of Stock Option Activity) (Details) - $ / shares12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Summarization of stock option activity
Number of options outstanding, beginning669,360
Number of options granted0
Number of options exercised0 0 0
Number of options forfeited(56,056)
Number of options expired(145,057)
Number of options outstanding, ending468,247 669,360
Number of options exercisable468,247
Weighted average option price outstanding, beginning $ 169.11
Weighted average option price granted0
Weighted average option price excercised0
Weighted average option price forfeited63.18
Weighted average option price expired249.23
Weighted average option price outstanding, ending156.97 $ 169.11
Weighted average option price exercisable $ 156.97
Weighted average remaining contractual term, outstanding4 years 6 months4 years 8 months 12 days
Weighted average remaining contractual term, exercisable4 years 6 months

Stock-Based And Long-Term Inc_7

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$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance | shares413,966
Shares, vested | shares(149,529)
Shares, fofeited | shares(130,201)
Ending balance | shares134,236
Weighted average grant date fair value, beginning balance | $ / shares $ 78.32
Weighted average grant date fair value, vested | $ / shares93.11
Weighted average grant date fair value, forfeited | $ / shares59.33
Weighted average grant date fair value, ending balance | $ / shares $ 80.27

Stock-Based And Long-Term Inc_8

Stock-Based And Long-Term Incentive Compensation (Schedule Of ESPP Activity) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 issued532,292 550,950
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 Inc_9

Stock-Based And Long-Term Incentive Compensation (Schedule Of Deferred Compensation Balances) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Stock-Based And Long-Term Incentive Compensation [Abstract]
Deferred compensation assets $ 15,013 $ 15,499
Deferred compensation liabilities, short-term2,869 1,372
Deferred compensation liabilities, long-term $ 20,697 $ 23,466

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands1 Months Ended12 Months Ended
Feb. 28, 2021Jul. 31, 2020Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018Dec. 31, 2017
Tax refunds $ 30,500
Reduction in value of goodwill $ 251,826
Effect on permanent book-tax basis difference548,800
Effect on book-tax temporary basis difference102,000
Goodwill impairment, amortization expense18,000
Net operating loss carryforwards $ 274,000
Limitation on operating loss carryforward usage as percent of taxable income80.00%
Deferred tax assets, various state $ 15,400
Foreign tax credit carryforward54,500
Unrecognized tax benefits13,206 $ 13,206 30,558 $ 30,656
Interest and penalties accrued5,800 5,000 9,700
Reduction to unrecognized tax benefits, foreign tax audits1,000 $ 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 goodwill583,600
Onshore Completion And Workover Services [Member] | Fromer Parent [Member]
Reduction in value of goodwill668,900
Production Services [Member]
Reduction in value of goodwill $ 85,300

Income Taxes (Schedule Of Compo

Income Taxes (Schedule Of Components Of Income And Loss From Continuing Operations Before Income Taxes) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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)

Income Taxes (Schedule Of Com_2

Income Taxes (Schedule Of Components Of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current, federal $ (36,506)
Current, state1,033 $ 1,573 $ 2,118
Current, foreign8,498 (3,359)14,856
Current, total(26,975)(1,786)16,974
Deferred, federal17,155 1,792 (66,039)
Deferred, state(638)1,622 (4,161)
Deferred, foreign(3,470)(6,254)10,223
Deferred income taxes13,047 (2,840)(59,977)
Income tax benefit $ (13,928) $ (4,626) $ (43,003)

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 taxes12,604 10,970 10,437
Reduction in value of assets(233)27,680
U.S. Tax Reform32,890 21,353
Other2,586 (19,203)17,665
Income tax benefit $ (13,928) $ (4,626) $ (43,003)

Income Taxes (Schedule Of Defer

Income Taxes (Schedule Of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019
Deferred tax assets:
Allowance for doubtful accounts $ 1,713 $ 1,291
Operating loss and tax credit carryforwards150,426 136,647
Compensation and employee benefits27,625 35,532
Decommissioning liabilities30,960 29,405
Operating leases2,792 1,002
Other34,578 24,903
Deferred tax assets, gross248,094 228,780
Valuation allowance(139,106)(84,741)
Net deferred tax assets108,988 144,039
Deferred tax liabilities:
Property, plant and equipment69,510 114,024
Notes receivable12,977 12,977
Goodwill and other intangible assets23,920 20,285
Other7,869
Deferred tax liabilities114,276 147,286
Net deferred tax liability $ 5,288 $ 3,247

Income Taxes (Summary Of Activi

Income Taxes (Summary Of Activity In Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 years1,757 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)

Segment Information (Narrative) (Details) $ in Thousands12 Months Ended
Dec. 31, 2019USD ($)itemDec. 31, 2020USD ($)
Assets held for sale $ 216,197 $ 47,635
Property, plant and equipment, gross2,879,065 2,576,870
Pumpco [Member]
Assets held for sale $ 216,200 $ 47,600
Drilling Rig Service Line [Member]
Land based drilling rigs | item12
Property, plant and equipment, gross $ 66,200
Proceeds from sale78,000
Loss on sale of assets200
Impairment $ 7,500

Segment Information (Schedule O

Segment Information (Schedule Of Segment Reporting Information) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 accretion146,793 196,459 278,439
General and administrative expenses222,465 268,226 276,468
Reduction in value of assets26,897 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 revenues281,397 411,573 383,719
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)97,894 154,503 148,019
Depreciation, depletion, amortization and accretion61,526 83,999 112,111
General and administrative expenses51,332 60,094 53,688
Reduction in value of assets599
Income (loss) from operations70,046 112,977 69,901
Loss from operations before income taxes70,046 112,977 69,901
Onshore Completion And Workover Services [Member]
Segment Reporting Information [Line Items]
Total revenues130,798 341,297 406,248
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)123,443 274,162 315,291
Depreciation, depletion, amortization and accretion22,301 33,699 68,183
General and administrative expenses16,326 25,621 24,386
Reduction in value of assets1,857 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 revenues276,329 405,830 418,525
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)230,939 328,527 342,420
Depreciation, depletion, amortization and accretion39,867 51,370 66,993
General and administrative expenses30,292 29,622 41,499
Reduction in value of assets7,558 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 revenues162,783 266,669 270,365
Cost or revenues (exclusive of depreciation, depletion, amortization and accretion)127,853 167,890 164,758
Depreciation, depletion, amortization and accretion19,329 22,665 25,653
General and administrative expenses44,660 59,587 57,600
Reduction in value of assets14,900 7,008
Income (loss) from operations(43,959)9,519 22,354
Interest income (expense), net4,539 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 accretion3,770 4,726 5,499
General and administrative expenses79,855 93,302 99,295
Reduction in value of assets1,983 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_2

Segment Information (Schedule Of Identifiable Assets) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019Dec. 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]
Assets557,469 659,621 587,264
Onshore Completion And Workover Services [Member]
Segment Reporting Information [Line Items]
Assets183,065 467,697 808,037
Production Services [Member]
Segment Reporting Information [Line Items]
Assets368,185 421,848 434,430
Technical Solutions [Member]
Segment Reporting Information [Line Items]
Assets260,339 377,627 340,161
Corporate And Other [Member]
Segment Reporting Information [Line Items]
Assets $ 132,021 $ 66,437 $ 46,070

Segment Information (Schedule_3

Segment Information (Schedule Of Capital Expenditures, By Segment) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 Expenditures24,053 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 expenditures36,700 108,100
Production Services [Member]
Segment Reporting Information [Line Items]
Capital Expenditures15,558 17,009 8,651
Technical Solutions [Member]
Segment Reporting Information [Line Items]
Capital Expenditures4,051 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_4

Segment Information (Schedule Of Revenues By Geographic Segment) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues $ 851,307 $ 1,425,369 $ 1,478,857
Long-lived assets542,090 664,949
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues523,099 1,038,870 1,137,070
Long-lived assets387,097 489,189
International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues328,208 386,499 $ 341,787
Long-lived assets $ 154,993 $ 175,760

Fair Value Measurements (Summar

Fair Value Measurements (Summary Of Financial Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in ThousandsDec. 31, 2020Dec. 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 assets15,013 15,499
Non-Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable2,869 1,372
Other long-term liabilities20,697 23,466
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt409,050 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 assets15,013 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 payable2,869 1,372
Other long-term liabilities20,697 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 V

Fair Value Measurements (Fair Value Measurements Used in Testing) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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) (Deta

Contingencies (Narrative) (Details) - plaintiffApr. 02, 2018Dec. 31, 2020
Contingencies [Abstract]
Number of people involved in lawsuit2
Rate of royalty payments invoiced by plaintiffs25.00%
Rate of royalty payments claimed by plaintiffs50.00%

Reduction in Value of Assets (N

Reduction in Value of Assets (Narrative) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Asset Impairment Charges [Line Items]
Reduction in value of long-lived assets $ 26,897 $ 17,185 $ 70,887
Reduction in value of assets26,897 17,185 322,713
Reduction in value of goodwill251,826
Restructuring Charges47,055
Reduction in value of assets related to sale of a business2,600
Drilling Products And Services [Member]
Asset Impairment Charges [Line Items]
Reduction in value of assets599
Technical Solutions [Member]
Asset Impairment Charges [Line Items]
Reduction in value of assets14,900 7,008
Production Services [Member]
Asset Impairment Charges [Line Items]
Reduction in value of assets7,558 2,055 92,252
Reduction in value of goodwill85,300
Impairment of Intangible Assets (Excluding Goodwill)1,900
Impairment of Property, Plant and Equipment5,100
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 (C

Reduction in Value of Assets (Components of the Expense) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 (Compon

Discontinued Operations (Components Of Income (Loss) From Discontinued Operations) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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]
Revenues521 281,452 651,408
Cost of services8,410 272,248 531,616
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)

Discontinued Operations (Assets

Discontinued Operations (Assets And Liabilities of Disposal Groups) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 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 liabilities4,079 44,938
Pumpco [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total assets47,600 216,200
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, net25,106
Other current assets2,155 6,215
Total current assets2,155 31,321
Property, plant and equipment, net45,397 179,144
Operating lease ROU assets83 5,732
Total assets47,635 216,197
Accounts payable165 14,370
Accrued expenses1,326 24,751
Total current liabilities1,491 39,121
Operating lease liabilities2,588 5,415
Other long-term liabilities402
Total current liabilities $ 4,079 $ 44,938

Discontinued Operation (Cash Fl

Discontinued Operation (Cash Flow Of Discontinued Operations) (Details) - Pumpco [Member] - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 Inform_3

Supplemental Guarantor Information (Narrative) (Details)12 Months Ended
Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Subsidiary ownership100.00%
Unsecured Senior Notes Due 2024 [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on unsecured senior notes7.75%

Supplemental Guarantor Inform_4

Supplemental Guarantor Information (Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in ThousandsDec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Crrent assets $ 561,288 $ 988,369
Total assets1,501,079 1,993,230 $ 2,215,962
Current liabilities194,049 324,487
Total liabilities not subject to compromise503,932 1,943,657
Obligor Group [Member]
Condensed Financial Statements, Captions [Line Items]
Crrent assets377,166 789,562
Noncurrent assets1,079,397 1,134,238
Total assets1,456,563 1,923,800
Current liabilities141,676 261,743
Noncurrent liabilities4,282,311 2,039,138
Total liabilities not subject to compromise $ 4,423,987 $ 2,300,881

Supplemental Guarantor Inform_5

Supplemental Guarantor Information (Condensed Consolidating Statements of Operations) (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Total Revenues $ 851,307 $ 1,425,369 $ 1,478,857
Cost or revenues580,129 925,082 970,488
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 Revenues641,216 1,126,456
Cost or revenues432,363 723,451
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)

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands12 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 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 Expenses14,587 3,006 3,569
Valuation Allowances and Reserves, Deductions2,114 2,930 20,526
Valuation Allowances and Reserves, Balance, Ending Balance $ 24,629 $ 12,156 $ 12,080