Segment Information

3 Months Ended

Mar. 31, 2016

Segment Information [Abstract]

Segment Information

(8)  Segment Information

Business Segments

The Drilling Products and Services segment rents and sells bottom hole assemblies, premium drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, completion, production and workover activities.  It also provides on-site accommodations and machining services.  The Onshore Completion and Workover Services segment provides pressure pumping services used to complete and stimulate production in new oil and gas wells, fluid handling services and well servicing rigs that provide a variety of well completion, workover and maintenance services.  The Production Services segment provides intervention services such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, production testing and optimization, and remedial pumping services.  The Technical Solutions segment provides services typically requiring specialized engineering, manufacturing or project planning, including well containment systems, stimulation and sand control services and well plug and abandonment services. It also includes production handling arrangements and the production and sale of oil and gas. 

The Company evaluates the performance of its reportable segments based on income or loss from operations.  The segment measure is calculated as follows: segment revenues less segment operating expenses, depreciation, depletion, amortization and accretion expense and allocated general and administrative expenses.  General and administrative expenses are allocated to the segments based primarily on specific identification and, to the extent that such identification is not practical, other methods which the Company believes to be a reasonable reflection of the utilization of services provided.  The Company believes this segment measure is useful in evaluating the performance of its reportable segments because it highlights operating trends and aids analytical comparisons.

Summarized financial information for the Company’s segments is as follows (in thousands): 

Three Months Ended March 31, 2016
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	96,570	$	132,472	$	96,746	$	87,345	$	-	$	413,133
Cost of services and rentals
(exclusive of items shown separately below)		37,534		123,330		73,874		50,601		-		285,339
Depreciation, depletion, amortization     and accretion		46,784		54,627		23,585		11,676		-		136,672
General and administrative expenses		28,547		25,050		24,431		25,127		-		103,155
Loss from operations		(16,295)		(70,535)		(25,144)		(59)		-		(112,033)
Interest income (expense), net		-		-		(793)		943		(23,956)		(23,806)
Other income		-		-		-		-		7,755		7,755
Income (loss) from continuing operations     before income taxes	$	(16,295)	$	(70,535)	$	(25,937)	$	884	$	(16,201)	$	(128,084)

Three Months Ended March 31, 2015
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	196,636	$	351,084	$	251,379	$	118,136	$	-	$	917,235
Cost of services and rentals
(exclusive of items shown separately below)		61,801		254,207		191,222		75,016		-		582,246
Depreciation, depletion, amortization     and accretion		48,767		59,805		39,046		14,602		-		162,220
General and administrative expenses		38,843		38,264		43,306		30,549		-		150,962
Income (loss) from operations		47,225		(1,192)		(22,195)		(2,031)		-		21,807
Interest income (expense), net		-		-		235		417		(23,861)		(23,209)
Other expense		-		-		-		-		(971)		(971)
Income (loss) from continuing operations     before income taxes	$	47,225	$	(1,192)	$	(21,960)	$	(1,614)	$	(24,832)	$	(2,373)

Identifiable Assets
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
March 31, 2016	$	1,288,642	$	1,854,210	$	870,763	$	732,483	$	-	$	4,746,098
December 31, 2015	$	1,223,191	$	1,929,185	$	967,719	$	794,149	$	-	$	4,914,244

Geographic Segments

The Company attributes revenue to various countries based on the location of where services are performed or the destination of the drilling products or equipment sold or rented.  Long-lived assets consist primarily of property, plant and equipment and are attributed to various countries based on the physical location of the asset at the end of a period.  The Company’s revenue attributed to the U.S. and to other countries and the value of its long-lived assets by those locations are as follows (in thousands):

Revenues
	Three Months Ended March 31,
	2016		2015
United States	$	303,576	$	760,443
Other Countries		109,557		156,792
Total	$	413,133	$	917,235
Long-Lived Assets
	March 31, 2016		December 31, 2015
United States	$	1,726,577	$	1,799,418
Other Countries		338,951		323,873
Total, net	$	2,065,528	$	2,123,291