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Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2011

Goodwill by Operating Segment

Goodwill — Goodwill by operating segment as of June 30, 2011 and changes for the six months then ended are as follows (in thousands):

		January 1, Balance				Changes to Goodwill				June 30, Balance
Contract Drilling:
Goodwill		$	86,234			$	—			$	86,234
Accumulated impairment losses			—				—				—
Net goodwill in contract drilling segment			86,234				—				86,234
Pressure Pumping:
Goodwill			67,575				—				67,575
Accumulated impairment losses			—				—				—
Net goodwill in pressure pumping segment			67,575				—				67,575
Total goodwill		$	153,809			$	—			$	153,809

Goodwill by operating segment as of June 30, 2010 and changes for the six months then ended are as follows (in thousands):

		January 1, Balance				Changes to Goodwill				June 30, Balance
Contract Drilling:
Goodwill		$	86,234			$	—			$	86,234
Accumulated impairment losses			—				—				—
Net goodwill in contract drilling segment			86,234				—				86,234
Total goodwill		$	86,234			$	—			$	86,234

Activity with Respect to Intangible Assets

The following table sets forth the activity with respect to intangible assets for the six months ended June 30, 2011 (in thousands):

		January 1, Balance				Amortization				June 30, Balance
Non-compete agreement		$	1,400			$	—			$	1,400
Accumulated amortization			(116	)			(233	)			(349	)
Net non-compete agreement			1,284				(233	)			1,051
Customer relationships			25,500				—				25,500
Accumulated amortization			(910	)			(1,822	)			(2,732	)
Net customer relationships			24,590				(1,822	)			22,768
Total intangible assets, net (excluding goodwill)		$	25,874			$	(2,055	)		$	23,819

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- Definition

Goodwill by Reportable Segment

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- Definition

Tabular disclosure of amortizable intangibles assets, in total and by major class, including the gross carrying amount and accumulated amortization. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16265-109275

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16323-109275

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