PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Summary of property and equipment by classification

Our estimated useful lives of our various classifications of assets are as follows:

	Years
Drilling vessels and related equipment	5-35
Drill pipe	3
Furniture and other	3-10

	September 30,
(In thousands)	2014			2013
Drilling vessels and equipment	$	4,181,774		$	2,979,503
Construction work in progress	319,548			715,320
Drill pipe	31,265			26,743
Office equipment and other	35,566			24,439
Total cost	4,568,153			3,746,005
Less: Accumulated depreciation	(601,125		)	(581,281		)
Property and equipment, net	$	3,967,028		$	3,164,724