DISCONTINUED OPERATIONS (Notes)

12 Months Ended

Dec. 31, 2013

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

    DISCONTINUED OPERATIONS

In September 2012, we completed the sale of our Argentina operations for approximately $12.5 million, net of transaction costs. The $12.5 million net proceeds from the sale of Argentina operations included $2.0 million received in cash and the balance in notes receivable which was comprised of three sets of non-interest bearing notes for a total of six notes. Of the first set of notes, originally due in September 2013, one note was paid in full and retired, and the second note was restructured with a maturity date of September 16, 2014, payable in thirteen monthly payments. The first four payments totaling $0.6 million, which includes the repayment of the first note, were received in the fourth quarter of 2013 and the remaining nine payments are expected to follow each month thereafter. The maturity dates, payment terms and balances of the remaining two sets of notes did not change. These notes are included in "Other current assets" in our condensed consolidated balance sheets.

In connection with the sale, we recognized a total loss of $85.8 million, which includes the noncash impairment charge of $41.5 million recorded in the first quarter of 2012, and a write-off of $51.9 million cumulative translation adjustment previously recorded in accumulated other comprehensive loss during the third quarter of 2012. We are reporting the results of our Argentina operations in discontinued operations for all periods presented.

The following table presents the results of operations for the Argentina business sold in this transaction for the years ended December 31, 2012 and 2011.

	Year Ended December 31,
	2012			2011
	(in thousands)
REVENUES	$	75,815		$	117,672
COSTS AND EXPENSES:
Direct operating expenses	72,664			111,893
Depreciation and amortization expense	143			2,658
General and administrative expenses	11,232			14,769
Asset retirements and impairments	85,755			—
Operating loss	(93,979		)	(11,648		)
Interest expense, net of amounts capitalized	168			1,694
Other expense, net	3,725			3,159
Loss before taxes	(97,872		)	(16,501		)
Income tax benefit	4,304			5,820
Net loss	$	(93,568	)	$	(10,681	)