Segment Information

12 Months Ended

Dec. 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, reduction in value of assets and allocated corporate general and administrative expenses.  Corporate 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): 

2016
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	293,543	$	523,965	$	348,363	$	284,176	$	-	$	1,450,047
Cost of services and rentals (exclusive of
depreciation, depletion, amortization
and accretion)		136,719		515,784		276,223		194,548		-		1,123,274
Depreciation, depletion, amortization
and accretion		161,378		209,455		95,416		43,722		-		509,971
General and administrative expenses		89,574		91,508		76,817		88,707		-		346,606
Reduction in value of assets		48,903		190,835		235,067		25,600		-		500,405
Loss from operations		(143,031)		(483,617)		(335,160)		(68,401)		-		(1,030,209)
Interest expense, net		-		-		(1,343)		3,553		(94,963)		(92,753)
Other expense		-		-		-		-		22,621		22,621
Loss from continuing operations
before income taxes	$	(143,031)	$	(483,617)	$	(336,503)	$	(64,848)	$	(72,342)	$	(1,100,341)

2015
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	547,530	$	934,274	$	795,215	$	497,546	$	-	$	2,774,565
Cost of services and rentals (exclusive of
depreciation, depletion, amortization
and accretion)		178,629		773,119		612,578		301,486		-		1,865,812
Depreciation, depletion, amortization
and accretion		187,336		225,667		136,992		62,152		-		612,147
General and administrative expenses		120,637		121,289		146,192		122,590		-		510,708
Reduction in value of assets		40,237		783,229		790,517		124,904		-		1,738,887
Income (loss) from operations		20,691		(969,030)		(891,064)		(113,586)		-		(1,952,989)
Interest expense, net		-		-		(2,013)		1,707		(97,012)		(97,318)
Other expense		-		-		-		-		(9,476)		(9,476)
Income (loss) from continuing operations
before income taxes	$	20,691	$	(969,030)	$	(893,077)	$	(111,879)	$	(106,488)	$	(2,059,783)

2014
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	852,499	$	1,732,833	$	1,402,815	$	568,475	$	-	$	4,556,622
Cost of services and rentals (exclusive of
depreciation, depletion, amortization
and accretion)		255,613		1,205,443		967,440		306,337		-		2,734,833
Depreciation, depletion, amortization
and accretion		179,934		233,430		171,380		66,070		-		650,814
General and administrative expenses		141,762		159,687		195,731		127,191		-		624,371
Income from operations		275,190		134,273		68,264		68,877		-		546,604
Interest expense, net		-		-		-		1,577		(98,311)		(96,734)
Other expense		-		-		-		-		(7,681)		(7,681)
Income (loss) from continuing operations
before income taxes	$	275,190	$	134,273	$	68,264	$	70,454	$	(105,992)	$	442,189

Identifiable Assets
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical		Consolidated
	Services		Services		Services		Solutions		Total
December 31, 2016	$	849,046	$	1,573,801	$	598,909	$	448,499	$	3,470,255
December 31, 2015	$	1,154,425	$	1,929,185	$	1,036,485	$	794,149	$	4,914,244
December 31, 2014	$	1,212,900	$	2,993,824	$	2,170,534	$	940,524	$	7,317,782

Capital Expenditures
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical		Consolidated
	Services		Services		Services		Solutions		Total
December 31, 2016	$	35,504	$	20,185	$	20,939	$	3,920	$	80,548
December 31, 2015	$	124,015	$	103,001	$	77,537	$	53,673	$	358,226
December 31, 2014	$	261,451	$	152,742	$	102,171	$	99,738	$	616,102

Geographic Segments

The Company attributes revenue to various countries based on the location 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 is as follows (in thousands): 

Revenues
	Years ended December 31,
	2016		2015		2014
United States	$	1,080,513	$	2,185,071	$	3,848,929
Other Countries		369,534		589,494		707,693
Total	$	1,450,047	$	2,774,565	$	4,556,622
Long-Lived Assets
			December 31,
			2016		2015
United States			$	1,288,077	$	1,799,418
Other Countries				317,288		323,873
Total, net			$	1,605,365	$	2,123,291