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Business Segments (Tables)

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Business Segments - Financial Information

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

	Three Months Ended								Six Months Ended
	June 30,								June 30,
	2016				2015				2016				2015
Revenues:
Contract drilling	$	115,235			$	288,588			$	283,992			$	690,829
Pressure pumping		73,950				176,624				170,263				426,345
Oil and natural gas		4,722				7,816				8,689				14,316
Total segment revenues		193,907				473,028				462,944				1,131,490
Elimination of intercompany revenues (a)		-				(267	)			(98	)			(1,030	)
Total revenues	$	193,907			$	472,761			$	462,846			$	1,130,460
Operating income (loss):
Contract drilling	$	(70,449	)		$	9,426			$	(105,545	)		$	77,824
Pressure pumping		(46,025	)			(18,744	)			(89,984	)			(33,760	)
Oil and natural gas		1,267				(3,631	)			(1,588	)			(8,193	)
		(115,207	)			(12,949	)			(197,117	)			35,871
Corporate and other		(13,947	)			(14,813	)			(28,641	)			(30,186	)
Other operating income (expense), net (b)		4,822				2,998				6,167				(6,346	)
Interest income		100				318				210				601
Interest expense		(10,678	)			(9,249	)			(21,478	)			(17,790	)
Other		17				-				33				-
Loss before income taxes	$	(134,893	)		$	(33,695	)		$	(240,826	)		$	(17,850	)

	June 30,				December 31,
	2016				2015
Identifiable assets:
Contract drilling	$	3,201,494			$	3,457,044
Pressure pumping		703,768				813,704
Oil and natural gas		30,903				34,073
Corporate and other (c)		275,306				224,663
Total assets	$	4,211,471			$	4,529,484

(a) Consists of contract drilling intercompany revenues for services provided to the oil and natural gas exploration and production segment.

(b) Other operating income (expense) includes net gains or losses associated with the disposal of assets related to corporate strategy decisions of the executive management group.  Accordingly, the related gains or losses have been excluded from the results of specific segments.  This caption also includes expenses related to certain legal settlements.  

(c) Corporate and other assets primarily include cash on hand, income tax receivables and certain deferred tax assets.

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- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599

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X

- References

No definition available.

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