Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2025

Revenue Recognition

Schedule of revenue, disaggregated by geographical region

In the following table, revenue is disaggregated by geographical region. The table also includes a reconciliation of the disaggregated revenue with the reportable segments:


		Three Months Ended
		June 30, 2025

			U.S. Drilling			International Drilling			Drilling Solutions			Rig Technologies			Other			Total

		(In thousands)
Lower 48		$	190,087		$	—		$	99,213		$	18,934		$	—		$	308,234
U.S. Offshore			31,380			—			1,326			—			—			32,706
Alaska			33,971			—			2,654			4			—			36,629
Canada			—			12,472			455			1,545			—			14,472
Middle East & Asia			—			252,011			34,823			14,798			—			301,632
Latin America			—			89,765			23,661			872			—			114,298
Europe, Africa & CIS			—			30,722			8,151			374			—			39,247
Eliminations & other			—			—			—			—			(14,430)			(14,430)
Total		$	255,438		$	384,970		$	170,283		$	36,527		$	(14,430)		$	832,788


		Six Months Ended
		June 30, 2025
			U.S. Drilling			International Drilling			Drilling Solutions			Rig Technologies			Other			Total

		(In thousands)
Lower 48		$	378,494		$	—		$	148,372		$	37,791		$	—		$	564,657
U.S. Offshore			55,187			—			4,059			—			—			59,246
Alaska			52,503			—			3,595			4			—			56,102
Canada			—			15,043			1,073			3,407			—			19,523
Middle East & Asia			—			510,426			52,458			35,966			—			598,850
Latin America			—			185,230			43,539			2,275			—			231,044
Europe, Africa & CIS			—			55,989			10,366			1,249			—			67,604
Eliminations & other			—			—			—			—			(28,052)			(28,052)
Total		$	486,184		$	766,688		$	263,462		$	80,692		$	(28,052)		$	1,568,974


		Three Months Ended
		June 30, 2024

			U.S. Drilling			International Drilling			Drilling Solutions			Rig Technologies			Other			Total

		(In thousands)
Lower 48		$	220,797		$	—		$	47,434		$	22,012		$	—		$	290,243
U.S. Offshore			28,351			—			2,602			—			—			30,953
Alaska			10,575			—			674			—			—			11,249
Canada			—			—			432			1,393			—			1,825
Middle East & Asia			—			249,291			13,086			19,508			—			281,885
Latin America			—			87,975			18,339			4,933			—			111,247
Europe, Africa & CIS			—			19,467			394			1,700			—			21,561
Eliminations & other			—			—			—			—			(14,165)			(14,165)
Total		$	259,723		$	356,733		$	82,961		$	49,546		$	(14,165)		$	734,798


		Six Months Ended
		June 30, 2024
			U.S. Drilling			International Drilling			Drilling Solutions			Rig Technologies			Other			Total

		(In thousands)
Lower 48		$	452,921		$	—		$	92,136		$	46,075		$	—		$	591,132
U.S. Offshore			57,045			—			5,459			—			—			62,504
Alaska			21,746			—			1,355			—			—			23,101
Canada			—			—			866			3,115			—			3,981
Middle East & Asia			—			500,532			24,042			38,679			—			563,253
Latin America			—			172,275			34,054			8,703			—			215,032
Europe, Africa & CIS			—			33,285			623			3,130			—			37,038
Eliminations & other			—			—			—			—			(27,539)			(27,539)
Total		$	531,712		$	706,092		$	158,535		$	99,702		$	(27,539)		$	1,468,502

Summary of receivables, contract assets, current and long-term contract liabilities

The opening and closing balances of our receivables, contract assets and current and long-term contract liabilities are as follows:


					Contract			Contract			Contract			Contract
		Contract			Assets			Assets			Liabilities			Liabilities
		Receivables			(Current)			(Long-term)			(Current)			(Long-term)

		(In thousands)
As of December 31, 2024		$	433,562		$	17,510		$	9,742		$	24,002		$	13,424
As of June 30, 2025		$	591,942		$	20,907		$	8,231		$	50,022		$	10,879