Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2026

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, 2026

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

		(In thousands)
Lower 48		$	206,893		$	—		$	39,845		$	20,016		$	—		$	266,754
U.S. Offshore			17,960			—			1,727			—			—			19,687
Alaska			27,606			—			2,402			—			—			30,008
Canada			—			16,415			495			1,239			—			18,149
Middle East & Asia			—			282,069			34,000			15,425			—			331,494
Latin America			—			106,522			24,317			773			—			131,612
Europe, Africa & CIS			—			27,491			7,854			32			—			35,377
Eliminations & other			—			—			—			—			(18,286)			(18,286)
Total		$	252,459		$	432,497		$	110,640		$	37,485		$	(18,286)		$	814,795


		Six Months Ended
		June 30, 2026
			U.S. Drilling			International Drilling			Drilling Solutions			Rig Technologies			Other			Total

		(In thousands)
Lower 48		$	398,856		$	—		$	75,505		$	35,188		$	—		$	509,549
U.S. Offshore			38,888			—			3,430			—			—			42,318
Alaska			55,859			—			4,684			—			—			60,543
Canada			—			34,054			1,067			2,676			—			37,797
Middle East & Asia			—			556,518			66,476			24,963			—			647,957
Latin America			—			207,079			48,569			1,702			—			257,350
Europe, Africa & CIS			—			54,342			17,131			178			—			71,651
Eliminations & other			—			—			—			—			(28,822)			(28,822)
Total		$	493,603		$	851,993		$	216,862		$	64,707		$	(28,822)		$	1,598,343


		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

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, 2025		$	446,310		$	19,335		$	12,053		$	41,927		$	28,646
As of June 30, 2026		$	487,924		$	24,449		$	19,412		$	43,150		$	30,242