Segment Information

3 Months Ended

Mar. 31, 2017

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 that 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, 2017
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	68,431	$	204,979	$	68,605	$	58,921	$	-	$	400,936
Cost of services and rentals (exclusive of
depreciation, depletion, amortization and accretion)		29,150		193,566		61,181		38,089		-		321,986
Depreciation, depletion, amortization
and accretion		34,975		49,883		20,836		8,587		-		114,281
General and administrative expenses		17,473		24,771		15,800		17,449		-		75,493
Loss from operations		(13,167)		(63,241)		(29,212)		(5,204)		-		(110,824)
Interest expense, net		-		-		-		790		(25,040)		(24,250)
Other expense		-		-		-		-		649		649
Loss from continuing operations
before income taxes	$	(13,167)	$	(63,241)	$	(29,212)	$	(4,414)	$	(24,391)	$	(134,425)

Three Months Ended March 31, 2016
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical				Consolidated
	Services		Services		Services		Solutions		Unallocated		Total
Revenues	$	88,422	$	132,472	$	104,894	$	87,345	$	-	$	413,133
Cost of services and rentals (exclusive of
depreciation, depletion, amortization and accretion)		33,921		123,330		77,487		50,601		-		285,339
Depreciation, depletion, amortization and accretion		45,140		54,627		25,229		11,676		-		136,672
General and administrative expenses		27,083		25,050		25,895		25,127		-		103,155
Loss from operations		(17,722)		(70,535)		(23,717)		(59)		-		(112,033)
Interest income (expense), net		-		-		(793)		943		(23,956)		(23,806)
Other expense		-		-		-		-		7,755		7,755
Income (loss) from continuing operations    before income taxes	$	(17,722)	$	(70,535)	$	(24,510)	$	884	$	(16,201)	$	(128,084)

Identifiable Assets
			Onshore
	Drilling		Completion
	Products and		and Workover		Production		Technical		Consolidated
	Services		Services		Services		Solutions		Total
March 31, 2017	$	772,561	$	1,593,298	$	585,434	$	427,418	$	3,378,711
December 31, 2016	$	849,046	$	1,573,801	$	598,909	$	448,499	$	3,470,255

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,
	2017		2016
United States	$	333,609	$	303,576
Other Countries		67,327		109,557
Total	$	400,936	$	413,133
Long-Lived Assets
	March 31, 2017		December 31, 2016
United States	$	1,210,392	$	1,288,077
Other Countries		302,890		317,288
Total, net	$	1,513,282	$	1,605,365