Business Segments (Tables)

12 Months Ended

Dec. 31, 2011

Business Segments - Financial Information

The following tables summarize selected financial information relating to the Company’s business segments (in thousands):


	Years Ended December 31,
	2011			2010			2009
Revenues:
Contract drilling	$	1,673,629		$	1,085,722		$	600,423
Pressure pumping		845,803			350,608			161,441
Oil and natural gas		50,559			30,425			21,218

Total segment revenues		2,569,991			1,466,755			783,082
Elimination of intercompany revenues(a)		(4,048	)		(3,824	)		(1,136	)

Total revenues	$	2,565,943		$	1,462,931		$	781,946

Income (loss) from continuing operations before income taxes:
Contract drilling	$	346,083		$	140,483		$	(11,219	)
Pressure pumping		193,440			62,194			1,017
Oil and natural gas		23,982			12,455			950

		563,505			215,132			(9,252	)
Corporate and other		(42,903	)		(37,019	)		(35,577	)
Net (loss) gain on asset disposals(b)		4,999			22,812			(3,385	)
Interest income		187			1,674			381
Interest expense		(15,652	)		(12,772	)		(4,148	)
Other		582			927			426

Income (loss) from continuing operations before income taxes	$	510,718		$	190,754		$	(51,555	)

Identifiable assets:
Contract drilling	$	3,252,116		$	2,678,250		$	2,129,567
Pressure pumping		748,643			533,597			213,094
Oil and natural gas		44,990			36,508			25,355
Corporate and other(c)		176,152			174,676			294,136

Total assets	$	4,221,901		$	3,423,031		$	2,662,152

Depreciation, depletion, amortization and impairment:
Contract drilling	$	344,312		$	280,458		$	248,424
Pressure pumping		73,279			40,724			27,589
Oil and natural gas		16,962			10,950			12,927
Corporate and other		2,726			1,361			907

Total depreciation, depletion, amortization and impairment	$	437,279		$	333,493		$	289,847

Capital expenditures:
Contract drilling	$	784,686		$	655,550		$	395,376
Pressure pumping		198,061			51,064			43,144
Oil and natural gas		22,884			23,067			7,341
Corporate and other		5,947			8,409			6,785

Total capital expenditures	$	1,011,578		$	738,090		$	452,646

(a)	Includes contract drilling intercompany revenues related to drilling services provided to the oil and natural gas exploration and production segment.

(b)	Net gains or losses associated with the disposal of assets relate to corporate strategy decisions of the executive management group. Accordingly, the related gains or losses have been separately presented and excluded from the results of specific segments.

(c)	Corporate and other assets primarily include identifiable assets associated with assets held for sale as well as cash on hand, income taxes receivable and certain deferred federal income tax assets.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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