Expro (XPRO) 10-Q 8 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 03, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	FRANK'S INTERNATIONAL N.V.
Entity Central Index Key	1,575,828
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		224,032,321

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 188,779	$ 213,015
Short-term investments	76,149	81,021
Accounts receivables, net	132,263	127,210
Inventories, net	72,507	76,420
Assets held for sale	2,943	3,792
Other current assets	10,353	10,437
Total current assets	482,994	511,895
Property, plant and equipment, net	449,153	469,646
Goodwill	211,040	211,040
Intangible assets, net	32,133	33,895
Other assets	33,986	35,293
Total assets	1,209,306	1,261,769
Current liabilities:
Short-term debt	3,266	4,721
Accounts payable and accrued liabilities	101,011	108,885
Deferred revenue	64	4,703
Total current liabilities	104,341	118,309
Deferred tax liabilities	233	229
Other non-current liabilities	28,426	27,330
Total liabilities	133,000	145,868
Commitments and contingencies (Note 14)
Stockholders' equity:
Common stock, €0.01 par value, 798,096,000 shares authorized, 224,928,953 and 224,228,071 shares issued and 223,822,476 and 223,289,389 shares outstanding	2,823	2,814
Additional paid-in capital	1,053,705	1,050,873
Retained earnings	65,520	106,923
Accumulated other comprehensive loss	(30,970)	(30,972)
Treasury stock (at cost), 1,106,477 and 938,682 shares	(14,772)	(13,737)
Total stockholders' equity	1,076,306	1,115,901
Total liabilities and equity	$ 1,209,306	$ 1,261,769

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - € / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value per share (EUR per share)	€ 0.01	€ 0.01
Common stock, shares authorized	798,096,000	798,096,000
Common stock, shares, issued	224,928,953	224,228,071
Common stock, shares, outstanding	223,822,476	223,289,389
Treasury stock, shares at cost	1,106,477	938,682

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Services	$ 91,348	$ 86,322
Products	24,221	24,409
Total revenue	115,569	110,731
Cost of revenues, exclusive of depreciation and amortization
Services	63,210	51,683
Products	18,747	22,269
General and administrative expenses	38,730	42,725
Depreciation and amortization	28,300	31,099
Severance and other charges	1,254	1,037
(Gain) loss on disposal of assets	235	(1,472)
Operating loss	(34,907)	(36,610)
Other income (expense):
Tax receivable agreement (TRA) related adjustments	(2,941)	0
Other income (expense), net	(440)	134
Interest income, net	944	398
Mergers and acquisition expense	(58)	(449)
Foreign currency gain	1,704	746
Total other income (expense)	(791)	829
Loss before income taxes	(35,698)	(35,781)
Income tax expense (benefit)	6,375	(9,118)
Net loss	$ (42,073)	$ (26,663)
Dividends per common share (in dollars per share)	$ 0	$ 0.075
Loss per common share:
Basic and diluted (in dollars per share)	$ (0.19)	$ (0.12)
Weighted average common shares outstanding:
Basic and diluted (in shares)	223,567	222,564

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net loss	$ (42,073)	$ (26,663)
Other comprehensive income (loss):
Foreign currency translation adjustments	87	483
Marketable securities:
Unrealized loss on marketable securities	(85)	(81)
Reclassification to net income	0	(395)
Deferred tax asset / liability change	0	158
Unrealized loss on marketable securities, net of tax	(85)	(318)
Total other comprehensive income	2	165
Comprehensive loss	$ (42,071)	$ (26,498)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Balance at beginning of period (in shares) at Dec. 31, 2016		222,401
Balance at beginning of period at Dec. 31, 2016	$ 1,311,319	$ 2,802	$ 1,036,786	$ 317,270	$ (32,977)	$ (12,562)
Increase (Decrease) in Stockholders' Equity
Net loss	(26,663)			(26,663)
Foreign currency translation adjustments	483				483
Change in marketable securities	(318)				(318)
Equity-based compensation expense	5,701		5,701
Common stock dividends	(16,703)			(16,703)
Common shares issued upon vesting of share-based awards (in shares)		471
Common shares issued upon vesting of share-based awards	0	$ 5	(5)
Common shares issued for employee stock purchase plan (ESPP) (in shares)		50
Common shares issued for employee stock purchase plan (ESPP)	526	$ 1	525
Treasury shares issued upon vesting of share-based awards (in shares)		1
Treasury shares issued upon vesting of share-based awards	(8)		(31)			23
Treasury shares withheld (in shares)		(147)
Treasury shares withheld	(1,794)					(1,794)
Balance at end of period (in shares) at Mar. 31, 2017		222,776
Balance at end of period at Mar. 31, 2017	1,272,543	$ 2,808	1,042,976	273,904	(32,812)	(14,333)
Increase (Decrease) in Stockholders' Equity
Cumulative effect of accounting change	670			670
Balance at beginning of period (in shares) at Dec. 31, 2017		223,289
Balance at beginning of period at Dec. 31, 2017	1,115,901	$ 2,814	1,050,873	106,923	(30,972)	(13,737)
Increase (Decrease) in Stockholders' Equity
Net loss	(42,073)			(42,073)
Foreign currency translation adjustments	87				87
Change in marketable securities	(85)				(85)
Equity-based compensation expense	2,280		2,280
Common shares issued upon vesting of share-based awards (in shares)		601
Common shares issued upon vesting of share-based awards	0	$ 8	(8)
Common shares issued for employee stock purchase plan (ESPP) (in shares)		99
Common shares issued for employee stock purchase plan (ESPP)	561	$ 1	560
Treasury shares withheld (in shares)		(167)
Treasury shares withheld	(1,035)					(1,035)
Balance at end of period (in shares) at Mar. 31, 2018		223,822
Balance at end of period at Mar. 31, 2018	$ 1,076,306	$ 2,823	$ 1,053,705	$ 65,520	$ (30,970)	$ (14,772)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (PARENTHETICAL) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0	$ 0.075

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities
Net loss	$ (42,073)	$ (26,663)
Adjustments to reconcile net loss to cash used in operating activities
Depreciation and amortization	28,300	31,099
Equity-based compensation expense	2,280	5,701
Amortization of deferred financing costs	0	205
Deferred tax benefit	0	(11,060)
Provision (recovery) for bad debts	103	(91)
(Gain) loss on disposal of assets	235	(1,472)
Changes in fair value of investments	191	(1,013)
Realized loss on sale of investment	0	478
Unrealized (gain) loss on derivatives	(561)	456
Other	0	(1,876)
Changes in operating assets and liabilities
Accounts receivable	(4,426)	(10,030)
Inventories	(2,469)	4,732
Other current assets	1,042	1,045
Other assets	270	547
Accounts payable and accrued liabilities	(3,295)	4,486
Deferred revenue	(410)	(3,716)
Other non-current liabilities	(96)	(2,263)
Net cash used in operating activities	(20,909)	(9,435)
Cash flows from investing activities
Purchases of property, plant and equipment and intangibles	(6,323)	(11,720)
Proceeds from sale of assets	1,639	1,636
Proceeds from sale of investments	30,969	2,899
Purchase of investments	(26,428)	(59)
Net cash used in investing activities	(143)	(7,244)
Cash flows from financing activities
Repayments of borrowings	(1,455)	(72)
Proceeds from borrowings	0	4
Dividends paid on common stock	0	(16,703)
Net treasury shares withheld for taxes	(1,035)	(1,802)
Proceeds from the issuance of ESPP shares	561	526
Net cash used in financing activities	(1,929)	(18,047)
Effect of exchange rate changes on cash	(1,255)	(860)
Net decrease in cash and cash equivalents	(24,236)	(35,586)
Cash and cash equivalents at beginning of period	213,015	319,526
Cash and cash equivalents at end of period	188,779	283,940
Non-cash transactions:
Change in accounts payable and accrued liabilities related to capital expenditures	(2,538)	2,430
Net transfers from inventory to property, plant and equipment	$ (720)	$ 0

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Nature of Business Frank’s International N.V. ("FINV"), a limited liability company organized under the laws of The Netherlands, is a global provider of highly engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. FINV provides services and products to leading exploration and production companies in both offshore and onshore environments with a focus on complex and technically demanding wells. Basis of Presentation The condensed consolidated financial statements of FINV for the three months ended March 31, 2018 and 2017 include the activities of Frank's International C.V. ("FICV"), Blackhawk Group Holdings, LLC ("Blackhawk") and their wholly owned subsidiaries (collectively, the "Company," "we," "us" or "our"). All intercompany accounts and transactions have been eliminated for purposes of preparing these condensed consolidated financial statements. Our accompanying condensed consolidated financial statements have not been audited by our independent registered public accounting firm. The consolidated balance sheet at December 31, 2017 is derived from audited financial statements. However, certain information and footnote disclosures required by generally accepted accounting principles in the United States of America ("GAAP") for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended December 31, 2017 , which are included in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on February 27, 2018 ("Annual Report"). In the opinion of management, these condensed consolidated financial statements, which have been prepared pursuant to the rules of the SEC and GAAP for interim financial reporting, reflect all adjustments, which consisted only of normal recurring adjustments that were necessary for a fair statement of the interim periods presented. The results of operations for interim periods are not necessarily indicative of those for a full year. The condensed consolidated financial statements have been prepared on a historical cost basis using the United States dollar as the reporting currency. Our functional currency is primarily the United States dollar. Reclassifications Certain prior-period amounts have been reclassified to conform to the current period's presentation. These reclassifications had no impact on our net income (loss), working capital, cash flows or total equity previously reported. Our financial statements for the three months ended March 31, 2017 have been revised to decrease "cost of revenues, services" and increase "cost of revenues, products" by the following immaterial amounts in order to correct a misclassification associated with Blackhawk product costs. While the revisions do impact two financial statement line items, the revisions had no impact on our net income (loss), working capital, cash flows or total equity previously reported (in thousands): Three Months Ended March 31, 2017 Cost of revenues, exclusive of depreciation and amortization Services, as previously reported $ 57,107 Blackhawk adjustment (5,424 ) Services, as revised $ 51,683 Products, as previously reported $ 16,845 Blackhawk adjustment 5,424 Products, as revised $ 22,269 Recent Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of accounting standards updates ("ASUs") to the FASB’s Accounting Standards Codification. We consider the applicability and impact of all ASUs. ASUs not listed below were assessed and were either determined to be not applicable or are expected to have immaterial impact on our consolidated financial position, results of operations and cash flows. In May 2017, the FASB issued guidance to clarify and reduce both (i) diversity in practice and (ii) cost and complexity when accounting for a change to the terms and conditions of a share-based payment award. The guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. The amendments in this guidance should be applied prospectively to an award modified on or after the adoption date. We adopted the guidance on January 1, 2018 and the adoption did not have an impact on our consolidated financial statements. In January 2017, the FASB issued new accounting guidance for business combinations clarifying the definition of a business. The objective of the guidance is to help companies and other organizations which have acquired or sold a business to evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. For public entities, the guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. We adopted the guidance on January 1, 2018 and the adoption did not have an impact on our consolidated financial statements. In June 2016, the FASB issued new accounting guidance for credit losses on financial instruments. The guidance includes the replacement of the “incurred loss” approach for recognizing credit losses on financial assets, including trade receivables, with a methodology that reflects expected credit losses, which considers historical and current information as well as reasonable and supportable forecasts. For public entities, the guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early application is permitted for all entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Management is evaluating the provisions of this new accounting guidance, including which period to adopt, and has not determined what impact the adoption will have on our consolidated financial statements. In February 2016, the FASB issued accounting guidance for leases. The main objective of the accounting guidance is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The main difference between previous GAAP and the new guidance is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The new guidance requires lessees to recognize assets and liabilities arising from leases on the balance sheet and further defines a lease as a contract that conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Control over the use of the identified asset means that the customer has both (1) the right to obtain substantially all of the economic benefit from the use of the asset and (2) the right to direct the use of the asset. The accounting guidance requires disclosures by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. For public entities, the guidance is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years; early application is permitted. We are currently evaluating the impact of this accounting standard update on our consolidated financial statements and plan to adopt the new standard effective January 1, 2019. In May 2014, the FASB issued amendments to guidance on the recognition of revenue based upon the entity’s contracts with customers to transfer goods or services. Under the new revenue standard, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard creates a five step model that requires companies to exercise judgment when considering the terms of a contract and all relevant facts and circumstances. The standard allows for two transition methods: (a) a full retrospective adoption in which the standard is applied to all periods presented, or (b) a modified retrospective adoption in which the standard is applied only to the most current period presented in the financial statements, including additional disclosures of the standard’s application impact to individual financial statement line items. In July 2015, the FASB deferred the effective date to December 15, 2017 for annual periods, and interim reporting periods within those fiscal years, beginning after that date. We adopted the new revenue standard effective January 1, 2018 using the modified retrospective method. We recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings. Our adjustment related solely to revenues from certain product sales with bill-and-hold arrangements in our Tubular Sales segment. The comparative information has not been restated and continues to be reported under the accounting standards which were in effect for those periods. The impact to revenue of applying the new revenue recognition standard for the three months ended March 31, 2018 was immaterial. We expect the impact of the adoption of the new standard to be immaterial to our financial results on an ongoing basis. The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption of the new revenue standard was as follows (in thousands): Balance at Impact of Balance at December 31, 2017 Adjustments January 1, 2018 Balance Sheet Assets Inventories, net $ 76,420 $ (3,560 ) $ 72,860 Liabilities Deferred revenue 4,703 (4,230 ) 473 Stockholders' Equity Retained earnings 106,923 670 107,593

Revenues

Revenues	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Payment terms on services and products generally range from 30 days to 120 days. Given the short-term nature of our service and product offerings, our contracts do not have a significant financing component and the consideration we receive is generally fixed. Service revenues are recognized over time as services are performed or rendered. We generally perform services either under direct service purchase orders or master service agreements which are supplemented by individual call-out provisions. For customers contracted under such arrangements, an accrual is recorded in unbilled revenue for revenue earned but not yet invoiced. Revenues on product sales are generally recognized at a point in time when the product has shipped and significant risks of ownership have passed to the customer. The sales arrangements typically do not include a right of return or other similar provisions, nor do they contain any other post-delivery obligations. Some of our Tubular Sales and Blackhawk segment customers have requested that we store pipe, connectors and other products purchased from us in our facilities. We recognize revenues for these “bill and hold” sales once the following criteria have been met: (1) there is a substantive reason for the arrangement, (2) the product is identified as the customer's asset, (3) the product is ready for delivery to the customer, and (4) we cannot use the product or direct it to another customer. Practical Expedients We elected to apply certain practical expedients available under the new revenue standard. We elected to expense cost of obtaining contracts, such as sales commissions, when incurred because the amortization period would have been one year or less due to the length of our contracts. We have also elected not to assess immaterial promises in the context of our contracts as performance obligations and to exclude taxes from the assessment of transaction price in arrangements where taxes are collected by the entity from a customer. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. Because our contracts with customers are short-term in nature and fall within this exemption, we do not have significant unsatisfied performance obligations as defined by the new revenue standard.

Accounts Receivable, net

Accounts Receivable, net	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Accounts Receivable, net	Accounts Receivable, net Accounts receivable at March 31, 2018 and December 31, 2017 were as follows (in thousands): March 31, December 31, 2018 2017 Trade accounts receivable, net of allowance of $4,972 and $4,777, respectively $ 88,993 $ 83,482 Unbilled revenue 25,470 25,670 Taxes receivable 11,008 11,305 Affiliated (1) 549 716 Other receivables 6,243 6,037 Total accounts receivable, net $ 132,263 $ 127,210 (1) Amounts represent expenditures on behalf of non-consolidated affiliates.

Inventories, net

Inventories, net	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventories at March 31, 2018 and December 31, 2017 were as follows (in thousands): March 31, December 31, 2018 2017 Pipe and connectors, net of allowance of $19,868 and $20,064, respectively $ 27,930 $ 33,620 Finished goods, net of allowance of $1,517 and $1,520, respectively 15,016 14,541 Work in progress 9,179 9,206 Raw materials, components and supplies 20,382 19,053 Total inventories, net $ 72,507 $ 76,420

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The following is a summary of property, plant and equipment at March 31, 2018 and December 31, 2017 (in thousands): Estimated Useful Lives in Years March 31, December 31, Land — $ 15,365 $ 15,314 Land improvements (1) 8-15 15,080 14,594 Buildings and improvements (1) 39 117,003 119,380 Rental machinery and equipment 7 900,702 898,146 Machinery and equipment - other 7 55,351 55,049 Furniture, fixtures and computers 5 27,697 27,259 Automobiles and other vehicles 5 30,001 29,971 Leasehold improvements (1) 7-15, or lease term if shorter 11,915 10,030 Construction in progress - machinery and equipment and land improvements (1) — 61,644 61,836 1,234,758 1,231,579 Less: Accumulated depreciation (785,605 ) (761,933 ) Total property, plant and equipment, net $ 449,153 $ 469,646 (1) See Note 11 - Related Party Transactions for additional information. During the third quarter of 2017, we committed to sell certain of our buildings in the Middle East region and determined those assets met the criteria to be classified as held for sale in our condensed consolidated balance sheet. As a result, we reclassified the buildings, with a net book value of $4.1 million , from property, plant and equipment to assets held for sale. During the first quarter of 2018, we sold one of the buildings classified as held for sale for $0.8 million and recorded an immaterial loss. The following table presents the depreciation and amortization expense associated with each line item for the three months ended March 31, 2018 and 2017 (in thousands): Three Months Ended March 31, 2018 2017 Services $ 23,579 $ 26,643 Products 1,137 1,309 General and administrative expenses 3,584 3,147 Total $ 28,300 $ 31,099

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets at March 31, 2018 and December 31, 2017 consisted of the following (in thousands): March 31, December 31, 2018 2017 Cash surrender value of life insurance policies (1) $ 30,491 $ 30,351 Deposits 2,422 2,564 Other 1,073 2,378 Total other assets $ 33,986 $ 35,293 (1) See Note 9 – Fair Value Measurements

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	3 Months Ended
	Mar. 31, 2018
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at March 31, 2018 and December 31, 2017 consisted of the following (in thousands): March 31, December 31, 2018 2017 Accounts payable $ 31,899 $ 33,912 Accrued compensation 21,221 25,510 Accrued property and other taxes 12,485 16,908 Accrued severance and other charges 1,072 1,444 Income taxes 13,143 8,091 Accrued purchase orders and other 21,191 23,020 Total accounts payable and accrued liabilities $ 101,011 $ 108,885

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt Credit Facility We have a $100.0 million revolving credit facility with certain financial institutions, including up to $20.0 million in letters of credit and up to $10.0 million in swingline loans, which matures in August 2018 (the “Credit Facility”). Subject to the terms of the Credit Facility, we have the ability to increase the commitments to $150.0 million . At March 31, 2018 and December 31, 2017 , we had $2.5 million and $2.8 million , respectively, in letters of credit outstanding and no outstanding borrowings under this facility. Our borrowing capacity is equal to 2.5 x our trailing twelve month Adjusted EBITDA less letters of credit outstanding under the Credit Facility. Our borrowing capacity under the Credit Facility could be reduced or eliminated depending on our future Adjusted EBITDA. Borrowings under the Credit Facility bear interest, at our option, at either a base rate or an adjusted Eurodollar rate. Base rate loans under the Credit Facility bear interest at a rate equal to the higher of (i) the prime rate as published in the Wall Street Journal, (ii) the Federal Funds Effective Rate plus 0.50% or (iii) the adjusted Eurodollar rate plus 1.00% , plus an applicable margin ranging from 0.50% to 1.50% , subject to adjustment based on a leverage ratio. Interest is in each case payable quarterly for base-rate loans. Eurodollar loans under the Credit Facility bear interest at an adjusted Eurodollar rate equal to the Eurodollar rate for such interest period multiplied by the statutory reserves, plus an applicable margin ranging from 1.50% to 2.50% . Interest is payable at the end of applicable interest periods for Eurodollar loans, except that if the interest period for a Eurodollar loan is longer than three months , interest is paid at the end of each three -month period. The unused portion of the Credit Facility is subject to a commitment fee ranging from 0.250% to 0.375% based on certain leverage ratios. The Credit Facility contains various covenants that, among other things, limit our ability to grant certain liens, make certain loans and investments, enter into mergers or acquisitions, enter into hedging transactions, change our lines of business, prepay certain indebtedness, enter into certain affiliate transactions, incur additional indebtedness or engage in certain asset dispositions. The Credit Facility also contains financial covenants, which, among other things, require us, on a consolidated basis, to maintain: (i) a ratio of total consolidated funded debt to adjusted EBITDA (as defined in our Credit Agreement) of not more than 2.5 to 1.0 and (ii) a ratio of EBITDA to interest expense of not less than 3.0 to 1.0. As of March 31, 2018 , we were in compliance with the covenants included in the Credit Agreement. In addition, the Credit Facility contains customary events of default, including, among others, the failure to make required payments, the failure to comply with certain covenants or other agreements, breach of the representations and covenants contained in the agreements, default of certain other indebtedness, certain events of bankruptcy or insolvency and the occurrence of a change in control. Citibank Credit Facility In 2016, we entered into a three -year credit facility with Citibank N.A., UAE Branch in the amount of $6.0 million for the issuance of standby letters of credit and guarantees. The credit facility also allows for open ended guarantees. Outstanding amounts under the credit facility bear interest of 1.25% per annum for amounts outstanding up to one year. Amounts outstanding more than one year bear interest at 1.5% per annum. As of both March 31, 2018 and December 31, 2017 , we had $2.6 million in letters of credit outstanding. Insurance Notes Payable In 2017, we entered into three notes to finance our annual insurance premiums totaling $5.1 million . The notes bear interest at an annual rate of 2.9% with a final maturity date in October 2018 . At March 31, 2018 and December 31, 2017 , the total outstanding balance was $3.2 million and $4.7 million , respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We follow fair value measurement authoritative accounting guidance for measuring fair values of assets and liabilities in financial statements. We have consistently used the same valuation techniques for all periods presented. Please see Note 10 - Fair Value Measurements in our Annual Report for further discussion. A summary of financial assets and liabilities that are measured at fair value on a recurring basis, as of March 31, 2018 and December 31, 2017 , were as follows (in thousands): Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total March 31, 2018 Assets: Derivative financial instruments $ — $ 73 $ — $ 73 Investments: Cash surrender value of life insurance policies - deferred compensation plan — 30,491 — 30,491 Marketable securities - other 54 — — 54 Liabilities: Deferred compensation plan — 26,191 — 26,191 December 31, 2017 Assets: Investments: Cash surrender value of life insurance policies - deferred compensation plan $ — $ 30,351 $ — $ 30,351 Marketable securities - other 113 — — 113 Liabilities: Derivative financial instruments — 487 — 487 Deferred compensation plan — 26,797 — 26,797 Our derivative financial instruments consist of short-duration foreign currency forward contracts. The fair value of our derivative financial instruments is based on quoted market values including foreign exchange forward rates and interest rates. The fair value is computed by discounting the projected future cash flow amounts to present value. Derivative financial instruments are included in our condensed consolidated balance sheets in accounts receivable, net at March 31, 2018 and in accounts payable and accrued liabilities at December 31, 2017 . Our investments associated with our deferred compensation plan consist primarily of the cash surrender value of life insurance policies and are included in other assets on the condensed consolidated balance sheets. Our investments change as a result of contributions, payments, and fluctuations in the market. Our liabilities associated with our deferred compensation plan are included in o ther non-current liabilities on the condensed consolidated balance sheets. Assets and liabilities, measured using significant observable inputs, are reported at fair value based on third-party broker statements, which are derived from the fair value of the funds' underlying investments. We also have marketable securities in publicly traded equity securities as an indirect result of strategic investments. They are reported at fair value based on the price of the stock and are included in other assets on the condensed consolidated balance sheets. Assets and Liabilities Measured at Fair Value on a Non-recurring Basis We apply the provisions of the fair value measurement standard to our non-recurring, non-financial measurements including business combinations as well as impairment related to goodwill and other long-lived assets. Other Fair Value Considerations The carrying values on our condensed consolidated balance sheet of our cash and cash equivalents, short-term investments, trade accounts receivable, other current assets, accounts payable, accrued and other current liabilities and lines of credit approximate fair values due to their short maturities.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives We enter into short-duration foreign currency forward derivative contracts to reduce the risk of foreign currency fluctuations. We use these instruments to mitigate our exposure to non-local currency operating working capital. We record these contracts at fair value on our condensed consolidated balance sheets. Although the derivative contracts will serve as an economic hedge of the cash flow of our currency exchange risk exposure, they are not formally designated as hedge contracts for hedge accounting treatment. Accordingly, any changes in the fair value of the derivative instruments during a period will be included in our condensed consolidated statements of operations. As of March 31, 2018 and December 31, 2017 , we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands): March 31, 2018 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 5,025 1.2935 6/15/2018 Euro 9,080 1.2438 6/15/2018 Norwegian krone 5,575 7.7127 6/15/2018 Pound sterling 6,105 1.4035 6/15/2018 December 31, 2017 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 6,226 1.2850 3/15/2018 Euro 5,326 1.1836 3/15/2018 Norwegian krone 6,212 8.3704 3/15/2018 Pound sterling 6,039 1.3419 3/15/2018 The following table summarizes the location and fair value amounts of all derivative contracts in the condensed consolidated balance sheets as of March 31, 2018 and December 31, 2017 (in thousands): Derivatives not Designated as Hedging Instruments Consolidated Balance Sheet Location March 31, 2018 December 31, 2017 Foreign currency contracts Accounts receivable, net $ 73 $ — Foreign currency contracts Accounts payable and accrued liabilities — (487 ) The following table summarizes the location and amounts of the realized and unrealized gains and losses on derivative contracts in the condensed consolidated statements of operations (in thousands): Three Months Ended March 31, Derivatives not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative Contracts 2018 2017 Unrealized gain (loss) on foreign currency contracts Other income (expense), net $ 561 $ (456 ) Realized gain (loss) on foreign currency contracts Other income (expense), net (940 ) 255 Total net loss on foreign currency contracts $ (379 ) $ (201 ) Our derivative transactions are governed through International Swaps and Derivatives Association master agreements. These agreements include stipulations regarding the right of offset in the event that we or our counterparty default on our performance obligations. If a default were to occur, both parties have the right to net amounts payable and receivable into a single net settlement between parties. Our accounting policy is to offset derivative assets and liabilities executed with the same counterparty when a master netting arrangement exists. The following table presents the gross and net fair values of our derivatives at March 31, 2018 and December 31, 2017 (in thousands): Derivative Asset Positions Derivative Liability Positions March 31, 2018 December 31, 2017 March 31, 2018 December 31, 2017 Gross position - asset / (liability) $ 115 $ — $ (42 ) $ (487 ) Netting adjustment (42 ) — 42 — Net position - asset / (liability) $ 73 $ — $ — $ (487 )

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions We have engaged in certain transactions with other companies related to us by common ownership. We have entered into various operating leases to lease facilities from these affiliated companies. The majority of these lease obligations expire in 2018 and, at our discretion, may be extended for an additional 36 months subject to agreement on pricing of the extension. These leases may be extended or allowed to expire by us depending on operational needs, market prices and the ability for us to negotiate and secure, at our discretion, alternative leases or replacement locations. Rent expense associated with our related party leases was $2.2 million and $1.8 million for the three months ended March 31, 2018 and 2017 , respectively. In certain cases, we have made improvements to properties subject to related party leases referenced above, including the construction of buildings. As of March 31, 2018 , the net book value associated with buildings we constructed on properties subject to related party leases was $58.8 million . We are depreciating the costs associated with these buildings over their estimated remaining useful lives of approximately 38 years, which exceeds the remaining lease terms that primarily expire in 2018. Upon expiration of the leases, the buildings, land improvements and leasehold improvements could be construed as becoming the property of the related party lessors. As of March 31, 2018 , the net book value associated with leasehold and land improvements we constructed on properties subject to related party leases was $18.0 million , a portion of which is in construction in progress. We are depreciating the costs associated with these leasehold and land improvements over their estimated remaining lives of approximately 10 years, which exceeds the remaining lease terms that primarily expire in 2018. It is our intent to extend, renew, or replace the related party property leases such that we have unrestricted use of the buildings and improvements throughout their estimated useful lives. Extension, renewal or replacement of the related party property leases is dependent on negotiations with related parties, the failure of which could result in material disputes with the related parties. In the event we do not extend, renew, or replace these related party property leases, we will revise the remaining estimated useful lives of the buildings and other improvements accordingly. We were a party to certain agreements relating to the rental of aircraft to Western Airways ("WA"), an entity owned by the Mosing family. The WA agreements reflected both dry lease and wet lease rental, whereby we were charged a flat monthly fee primarily for crew, hangar, maintenance and administration costs in addition to other variable costs for fuel and maintenance. We also earned charter income from third party usage through a revenue sharing agreement. We recorded a minimal amount of net charter expense for the three months ended March 31, 2018 and 2017. In March 2017, we sold a fully depreciated aircraft for a total sales price of $1.3 million and recorded a gain on sale of $1.3 million . The rental agreements were terminated with WA effective December 29, 2017, upon the sale of our last aircraft. Tax Receivable Agreement Mosing Holdings and its permitted transferees converted all their Preferred Stock into shares of our common stock on a one -for-one basis on August 26, 2016, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications and other similar transactions, by delivery of an equivalent portion of their interests in FICV to us (the “Conversion”). FICV made an election under Section 754 of the Internal Revenue Code. Pursuant to the Section 754 election, the Conversion resulted in an adjustment to the tax basis of the tangible and intangible assets of FICV with respect to the portion of FICV now held by FINV. These adjustments will be allocated to FINV. The adjustments to the tax basis of the tangible and intangible assets of FICV described above would not have been available absent this Conversion. These basis adjustments may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. The TRA that we entered into with FICV and Mosing Holdings in connection with our initial public offering ("IPO") generally provides for the payment by FINV of 85% of the amount of the actual reductions, if any, in payments of U.S. federal, state and local income tax or franchise tax (which reductions we refer to as “cash savings”) in periods after our IPO as a result of (i) the tax basis increases resulting from the Conversion and (ii) imputed interest deemed to be paid by us as a result of, and additional tax basis arising from, payments under the TRA. In addition, the TRA provides for payment by us of interest earned from the due date (without extensions) of the corresponding tax return to the date of payment specified by the TRA. The payments under the TRA will not be conditioned upon a holder of rights under the TRA having a continued ownership interest in either FICV or FINV. We will retain the remaining 15% of cash savings, if any. The estimation of the liability under the TRA is by its nature imprecise and subject to significant assumptions regarding the amount and timing of future taxable income. As of March 31, 2018 , FINV has a cumulative loss over the prior 36 -month period. Based on this history of losses, as well as uncertainty regarding the timing and amount of future taxable income, we are unable to conclude that there will be future cash savings that will lead to additional payouts under the TRA beyond the estimated $5.1 million as of March 31, 2018 . Additional TRA liability may be recognized in the future based on changes in expectations regarding the timing and likelihood of future cash savings. The payment obligations under the TRA are our obligations and are not obligations of FICV. The term of the TRA will continue until all such tax benefits have been utilized or expired, unless FINV elects to exercise its sole right to terminate the TRA early. If FINV elects to terminate the TRA early, which it may do so in its sole discretion, it would be required to make an immediate payment equal to the present value of the anticipated future tax benefits subject to the TRA (based upon certain assumptions and deemed events set forth in the TRA, including the assumption that it has sufficient taxable income to fully utilize such benefits and that any FICV interests that Mosing Holdings or its transferees own on the termination date are deemed to be exchanged on the termination date). Any early termination payment may be made significantly in advance of the actual realization, if any, of such future benefits. In addition, payments due under the TRA will be similarly accelerated following certain mergers or other changes of control. In these situations, FINV’s obligations under the TRA could have a substantial negative impact on our liquidity and could have the effect of delaying, deferring or preventing certain mergers, asset sales, other forms of business combinations or other changes of control. For example, if the TRA were terminated on March 31, 2018 , the estimated termination payment would be approximately $54.6 million (calculated using a discount rate of 5.85% ). The foregoing number is merely an estimate and the actual payment could differ materially. Because FINV is a holding company with no operations of its own, its ability to make payments under the TRA is dependent on the ability of FICV to make distributions to it in an amount sufficient to cover FINV’s obligations under such agreements; this ability, in turn, may depend on the ability of FICV’s subsidiaries to provide payments to it. The ability of FICV and its subsidiaries to make such distributions will be subject to, among other things, the applicable provisions of Dutch law that may limit the amount of funds available for distribution and restrictions in our debt instruments. To the extent that FINV is unable to make payments under the TRA for any reason, except in the case of an acceleration of payments thereunder occurring in connection with an early termination of the TRA or certain mergers or change of control, such payments will be deferred and will accrue interest until paid, and FINV will be prohibited from paying dividends on its common stock.

Loss Per Common Share

Loss Per Common Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Loss Per Common Share	Loss Per Common Share Basic loss per common share is determined by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share is determined by dividing net loss by the weighted average number of common shares outstanding, assuming all potentially dilutive shares were issued. We apply the treasury stock method to determine the dilutive weighted average common shares represented by the unvested restricted stock units and ESPP shares. The following table summarizes the basic and diluted loss per share calculations (in thousands, except per share amounts): Three Months Ended March 31, 2018 2017 Numerator Net loss $ (42,073 ) $ (26,663 ) Denominator Basic and diluted weighted average common shares (1) 223,567 222,564 Loss per common share: Basic and diluted $ (0.19 ) $ (0.12 ) (1) Approximate number of unvested restricted stock units and stock to be issued pursuant to the ESPP that have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive when results from operations are at a net loss position. 702 799

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim financial reporting, we estimate the annual tax rate based on projected pre-tax income (loss) for the full year and record a quarterly income tax provision (benefit) in accordance with accounting guidance for income taxes. As the year progresses, we refine the estimate of the year's pre-tax income (loss) as new information becomes available. The continual estimation process often results in a change to the expected effective tax rate for the year. When this occurs, we adjust the income tax provision (benefit) during the quarter in which the change in estimate occurs so that the year-to-date provision reflects the most current expected annual tax rate. Our effective tax rate was (17.9)% and 25.5% for the three months ended March 31, 2018 and 2017 , respectively. In the current period we have a negative tax rate primarily due to recording tax expense in various foreign jurisdictions even though we had a net consolidated loss for the current period. We also recorded additional tax expense due to establishing valuation allowances against deferred tax assets generated in the U.S. and certain foreign jurisdictions during the first quarter of 2018. In the first quarter of 2017, we did not record valuation allowances against our U.S. deferred tax assets or the corresponding tax expense. In determining that a valuation allowance must be recorded in the current period, we assessed the available positive and negative evidence and concluded that it is not more likely than not that sufficient future taxable income would be generated to permit the use of our deferred tax assets. This conclusion is primarily the result of cumulative losses incurred in the most recent three-year period, and uncertainty regarding when we will return to profitability. The amount of deferred tax asset considered realizable and the related need for a valuation allowance may be adjusted in future periods as the available evidence changes. We are under audit by the U.S. and certain foreign jurisdictions for the years 2014 - 2016. We do not expect the results of these audits to have any material effect on our financial statements. As of March 31, 2018 , there were no significant changes to our unrecognized tax benefits as reported in our audited financial statements for the year ended December 31, 2017 .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are the subject of lawsuits and claims arising in the ordinary course of business from time to time. A liability is accrued when a loss is both probable and can be reasonably estimated. We had no material accruals for loss contingencies, individually or in the aggregate, as of March 31, 2018 and December 31, 2017 . We believe the probability is remote that the ultimate outcome of these matters would have a material adverse effect on our financial position, results of operations or cash flows. We are conducting an internal investigation of the operations of certain of our foreign subsidiaries in West Africa including possible violations of the U.S. Foreign Corrupt Practices Act ("FCPA"), our policies and other applicable laws. In June 2016, we voluntarily disclosed the existence of our extensive internal review to the SEC, the U.S. Department of Justice ("DOJ") and other governmental entities. It is our intent to continue to fully cooperate with these agencies and any other applicable authorities in connection with any further investigation that may be conducted in connection with this matter. While our review has not indicated that there has been any material impact on our previously filed financial statements, we have continued to collect information and cooperate with the authorities, but at this time are unable to predict the ultimate resolution of these matters with these agencies. In addition, during the course of the investigation, we discovered historical business transactions (and bids to enter into business transactions) in certain countries that may have been subject to U.S. and other international sanctions. We disclosed this information to the U.S. Department of Commerce’s Bureau of Industry and Security, Office of Export Enforcement (“OEE”) and to the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) (as well as to the agencies involved in our ongoing investigation discussed above). We received a No Action Letter dated April 20, 2018 from OEE, stating that OEE had closed its investigation without taking further action. In addition, we received a No Action Letter dated April 23, 2018 from OFAC, stating that OFAC had closed its investigation without taking further action. As disclosed above, our investigation into possible violations of the FCPA remains ongoing, and we will continue to cooperate with the SEC, DOJ and other relevant governmental entities in connection therewith. At this time, we are unable to predict the ultimate resolution of these matters with these agencies, including any financial impact to us. Our board and management are committed to continuously enhancing our internal controls that support improved compliance and transparency throughout our global operations.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information Reporting Segments Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company's chief operating decision maker ("CODM") in deciding how to allocate resources and assess performance. We are comprised of four reportable segments: International Services, U.S. Services, Tubular Sales and Blackhawk. The International Services segment provides tubular services in international offshore markets and in several onshore international regions. Our customers in these international markets are primarily large exploration and production companies, including integrated oil and gas companies and national oil and gas companies , and other oilfield services companies . The U.S. Services segment provides tubular services in the active onshore oil and gas drilling regions in the U.S., including the Permian Basin, Eagle Ford Shale, Haynesville Shale, Marcellus/Utica Shale, Niobrara Shale, Woodford Shale, Green River Basin and Uintah Basin , as well as in the U.S. Gulf of Mexico. The Tubular Sales segment designs, manufactures and distributes large outside diameter ("OD") pipe, connectors and casing attachments and sells large OD pipe originally manufactured by various pipe mills. We also provide specialized fabrication and welding services in support of offshore projects, including drilling and production risers, flowlines and pipeline end terminations, as well as long length tubulars (up to 300 feet in length) for use as caissons or pilings. This segment also designs and manufactures proprietary equipment for use in our International and U.S. Services segments. The Blackhawk segment provides well construction and well intervention services and products, in addition to cementing tool expertise, in the U.S. and Mexican Gulf of Mexico, onshore U.S. and other select international locations. Blackhawk’s customer base consists primarily of major and independent oil and gas companies as well as other oilfield services companies. Revenues We disaggregate our revenue from contracts with customers by geography for each of our segments, as we believe this best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. The following table presents our revenues disaggregated by geography based on the location where our services were provided and products sold (in thousands): Three Months Ended March 31, 2018 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 32,607 $ 15,105 $ 17,054 $ 64,766 International 48,733 — 115 1,955 50,803 Total Revenues $ 48,733 $ 32,607 $ 15,220 $ 19,009 $ 115,569 Three Months Ended March 31, 2017 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 30,966 $ 16,559 $ 16,152 $ 63,677 International 46,610 — 386 58 47,054 Total Revenues $ 46,610 $ 30,966 $ 16,945 $ 16,210 $ 110,731 Revenue by geographic area was as follows (in thousands): Three Months Ended March 31, 2018 2017 United States $ 64,766 $ 63,677 Europe/Middle East/Africa 30,246 28,486 Latin America 7,473 9,931 Asia Pacific 5,994 4,563 Other countries 7,090 4,074 Total Revenues $ 115,569 $ 110,731 Adjusted EBITDA We define Adjusted EBITDA as net income (loss) before interest income, net, depreciation and amortization, income tax benefit or expense, asset impairments, gain or loss on disposal of assets, foreign currency gain or loss, equity-based compensation, unrealized and realized gain or loss, the effects of the TRA, other non-cash adjustments and other charges. We review Adjusted EBITDA on both a consolidated basis and on a segment basis. We use Adjusted EBITDA to assess our financial performance because it allows us to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense), asset base (such as depreciation and amortization), income tax, foreign currency exchange rates and other charges and credits. Adjusted EBITDA has limitations as an analytical tool and should not be considered as an alternative to net income (loss), operating income (loss), cash flow from operating activities or any other measure of financial performance presented in accordance with GAAP. Our CODM uses Adjusted EBITDA as the primary measure of segment reporting performance. The following table presents a reconciliation of Segment Adjusted EBITDA to net loss (in thousands): Three Months Ended March 31, 2018 2017 Segment Adjusted EBITDA: International Services $ 2,588 $ 5,286 U.S. Services (1) (9,301 ) (7,215 ) Tubular Sales 2,188 2,254 Blackhawk 2,366 1,211 (2,159 ) 1,536 Interest income, net 944 398 Depreciation and amortization (28,300 ) (31,099 ) Income tax (expense) benefit (6,375 ) 9,118 Gain (loss) on disposal of assets (235 ) 1,472 Foreign currency gain 1,704 746 TRA related adjustments (2,941 ) — Charges and credits (2) (4,711 ) (8,834 ) Net loss $ (42,073 ) $ (26,663 ) (1) Includes all corporate general and administrative expenses. (2) Comprised of Equity-based compensation expense (for the three months ended March 31, 2018 and 2017 : $2,280 and $5,701 , respectively), Mergers and acquisition expense (for the three months ended March 31, 2018 and 2017 : $58 and $449 , respectively), Severance and other charges (for the three months ended March 31, 2018 and 2017 : $1,254 and $1,037 , respectively), Unrealized and realized losses (for the three months ended March 31, 2018 and 2017 : $400 and $608 , respectively) and Investigation-related matters (for the three months ended March 31, 2018 and 2017 : $719 and $1,039 , respectively). The following tables set forth certain financial information with respect to our reportable segments (in thousands): International Services U.S. Services Tubular Sales Blackhawk Eliminations Total Three Months Ended March 31, 2018 Revenue from external customers $ 48,733 $ 32,607 $ 15,220 $ 19,009 $ — $ 115,569 Inter-segment revenue (23 ) 4,216 97 210 (4,500 ) — Operating income (loss) (11,721 ) (21,980 ) 1,265 (2,471 ) — (34,907 ) Adjusted EBITDA 2,588 (9,301 ) 2,188 2,366 — * Three Months Ended March 31, 2017 Revenue from external customers $ 46,610 $ 30,966 $ 16,945 $ 16,210 $ — $ 110,731 Inter-segment revenue 3 4,285 3,675 — (7,963 ) — Operating income (loss) (9,513 ) (23,347 ) 2,380 (6,130 ) — (36,610 ) Adjusted EBITDA 5,286 (7,215 ) 2,254 1,211 — * * Non-GAAP financial measure not disclosed.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements of FINV for the three months ended March 31, 2018 and 2017 include the activities of Frank's International C.V. ("FICV"), Blackhawk Group Holdings, LLC ("Blackhawk") and their wholly owned subsidiaries (collectively, the "Company," "we," "us" or "our"). All intercompany accounts and transactions have been eliminated for purposes of preparing these condensed consolidated financial statements. Our accompanying condensed consolidated financial statements have not been audited by our independent registered public accounting firm. The consolidated balance sheet at December 31, 2017 is derived from audited financial statements. However, certain information and footnote disclosures required by generally accepted accounting principles in the United States of America ("GAAP") for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended December 31, 2017 , which are included in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on February 27, 2018 ("Annual Report"). In the opinion of management, these condensed consolidated financial statements, which have been prepared pursuant to the rules of the SEC and GAAP for interim financial reporting, reflect all adjustments, which consisted only of normal recurring adjustments that were necessary for a fair statement of the interim periods presented. The results of operations for interim periods are not necessarily indicative of those for a full year. The condensed consolidated financial statements have been prepared on a historical cost basis using the United States dollar as the reporting currency. Our functional currency is primarily the United States dollar.
Reclassifications	Reclassifications Certain prior-period amounts have been reclassified to conform to the current period's presentation. These reclassifications had no impact on our net income (loss), working capital, cash flows or total equity previously reported. Our financial statements for the three months ended March 31, 2017 have been revised to decrease "cost of revenues, services" and increase "cost of revenues, products" by the following immaterial amounts in order to correct a misclassification associated with Blackhawk product costs. While the revisions do impact two financial statement line items, the revisions had no impact on our net income (loss), working capital, cash flows or total equity previously reported (in thousands)
Recent Accounting Pronouncements	Recent Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of accounting standards updates ("ASUs") to the FASB’s Accounting Standards Codification. We consider the applicability and impact of all ASUs. ASUs not listed below were assessed and were either determined to be not applicable or are expected to have immaterial impact on our consolidated financial position, results of operations and cash flows. In May 2017, the FASB issued guidance to clarify and reduce both (i) diversity in practice and (ii) cost and complexity when accounting for a change to the terms and conditions of a share-based payment award. The guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. The amendments in this guidance should be applied prospectively to an award modified on or after the adoption date. We adopted the guidance on January 1, 2018 and the adoption did not have an impact on our consolidated financial statements. In January 2017, the FASB issued new accounting guidance for business combinations clarifying the definition of a business. The objective of the guidance is to help companies and other organizations which have acquired or sold a business to evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. For public entities, the guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. We adopted the guidance on January 1, 2018 and the adoption did not have an impact on our consolidated financial statements. In June 2016, the FASB issued new accounting guidance for credit losses on financial instruments. The guidance includes the replacement of the “incurred loss” approach for recognizing credit losses on financial assets, including trade receivables, with a methodology that reflects expected credit losses, which considers historical and current information as well as reasonable and supportable forecasts. For public entities, the guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early application is permitted for all entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Management is evaluating the provisions of this new accounting guidance, including which period to adopt, and has not determined what impact the adoption will have on our consolidated financial statements. In February 2016, the FASB issued accounting guidance for leases. The main objective of the accounting guidance is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The main difference between previous GAAP and the new guidance is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The new guidance requires lessees to recognize assets and liabilities arising from leases on the balance sheet and further defines a lease as a contract that conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Control over the use of the identified asset means that the customer has both (1) the right to obtain substantially all of the economic benefit from the use of the asset and (2) the right to direct the use of the asset. The accounting guidance requires disclosures by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. For public entities, the guidance is effective for financial statements issued for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years; early application is permitted. We are currently evaluating the impact of this accounting standard update on our consolidated financial statements and plan to adopt the new standard effective January 1, 2019. In May 2014, the FASB issued amendments to guidance on the recognition of revenue based upon the entity’s contracts with customers to transfer goods or services. Under the new revenue standard, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard creates a five step model that requires companies to exercise judgment when considering the terms of a contract and all relevant facts and circumstances. The standard allows for two transition methods: (a) a full retrospective adoption in which the standard is applied to all periods presented, or (b) a modified retrospective adoption in which the standard is applied only to the most current period presented in the financial statements, including additional disclosures of the standard’s application impact to individual financial statement line items. In July 2015, the FASB deferred the effective date to December 15, 2017 for annual periods, and interim reporting periods within those fiscal years, beginning after that date. We adopted the new revenue standard effective January 1, 2018 using the modified retrospective method. We recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings. Our adjustment related solely to revenues from certain product sales with bill-and-hold arrangements in our Tubular Sales segment. The comparative information has not been restated and continues to be reported under the accounting standards which were in effect for those periods. The impact to revenue of applying the new revenue recognition standard for the three months ended March 31, 2018 was immaterial. We expect the impact of the adoption of the new standard to be immaterial to our financial results on an ongoing basis.
Revenues	Revenues Revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Payment terms on services and products generally range from 30 days to 120 days. Given the short-term nature of our service and product offerings, our contracts do not have a significant financing component and the consideration we receive is generally fixed. Service revenues are recognized over time as services are performed or rendered. We generally perform services either under direct service purchase orders or master service agreements which are supplemented by individual call-out provisions. For customers contracted under such arrangements, an accrual is recorded in unbilled revenue for revenue earned but not yet invoiced. Revenues on product sales are generally recognized at a point in time when the product has shipped and significant risks of ownership have passed to the customer. The sales arrangements typically do not include a right of return or other similar provisions, nor do they contain any other post-delivery obligations. Some of our Tubular Sales and Blackhawk segment customers have requested that we store pipe, connectors and other products purchased from us in our facilities. We recognize revenues for these “bill and hold” sales once the following criteria have been met: (1) there is a substantive reason for the arrangement, (2) the product is identified as the customer's asset, (3) the product is ready for delivery to the customer, and (4) we cannot use the product or direct it to another customer. Practical Expedients We elected to apply certain practical expedients available under the new revenue standard. We elected to expense cost of obtaining contracts, such as sales commissions, when incurred because the amortization period would have been one year or less due to the length of our contracts. We have also elected not to assess immaterial promises in the context of our contracts as performance obligations and to exclude taxes from the assessment of transaction price in arrangements where taxes are collected by the entity from a customer. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. Because our contracts with customers are short-term in nature and fall within this exemption, we do not have significant unsatisfied performance obligations as defined by the new revenue standard.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Reclassifications to Previously Reported Amounts	Our financial statements for the three months ended March 31, 2017 have been revised to decrease "cost of revenues, services" and increase "cost of revenues, products" by the following immaterial amounts in order to correct a misclassification associated with Blackhawk product costs. While the revisions do impact two financial statement line items, the revisions had no impact on our net income (loss), working capital, cash flows or total equity previously reported (in thousands): Three Months Ended March 31, 2017 Cost of revenues, exclusive of depreciation and amortization Services, as previously reported $ 57,107 Blackhawk adjustment (5,424 ) Services, as revised $ 51,683 Products, as previously reported $ 16,845 Blackhawk adjustment 5,424 Products, as revised $ 22,269
Schedule of Effect of New Accounting Pronouncements	The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption of the new revenue standard was as follows (in thousands): Balance at Impact of Balance at December 31, 2017 Adjustments January 1, 2018 Balance Sheet Assets Inventories, net $ 76,420 $ (3,560 ) $ 72,860 Liabilities Deferred revenue 4,703 (4,230 ) 473 Stockholders' Equity Retained earnings 106,923 670 107,593

Accounts Receivable, net (Table

Accounts Receivable, net (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable at March 31, 2018 and December 31, 2017 were as follows (in thousands): March 31, December 31, 2018 2017 Trade accounts receivable, net of allowance of $4,972 and $4,777, respectively $ 88,993 $ 83,482 Unbilled revenue 25,470 25,670 Taxes receivable 11,008 11,305 Affiliated (1) 549 716 Other receivables 6,243 6,037 Total accounts receivable, net $ 132,263 $ 127,210 (1) Amounts represent expenditures on behalf of non-consolidated affiliates.

Inventories, net (Tables)

Inventories, net (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories at March 31, 2018 and December 31, 2017 were as follows (in thousands): March 31, December 31, 2018 2017 Pipe and connectors, net of allowance of $19,868 and $20,064, respectively $ 27,930 $ 33,620 Finished goods, net of allowance of $1,517 and $1,520, respectively 15,016 14,541 Work in progress 9,179 9,206 Raw materials, components and supplies 20,382 19,053 Total inventories, net $ 72,507 $ 76,420

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	The following is a summary of property, plant and equipment at March 31, 2018 and December 31, 2017 (in thousands): Estimated Useful Lives in Years March 31, December 31, Land — $ 15,365 $ 15,314 Land improvements (1) 8-15 15,080 14,594 Buildings and improvements (1) 39 117,003 119,380 Rental machinery and equipment 7 900,702 898,146 Machinery and equipment - other 7 55,351 55,049 Furniture, fixtures and computers 5 27,697 27,259 Automobiles and other vehicles 5 30,001 29,971 Leasehold improvements (1) 7-15, or lease term if shorter 11,915 10,030 Construction in progress - machinery and equipment and land improvements (1) — 61,644 61,836 1,234,758 1,231,579 Less: Accumulated depreciation (785,605 ) (761,933 ) Total property, plant and equipment, net $ 449,153 $ 469,646 (1) See Note 11 - Related Party Transactions for additional information.
Summary of Depreciation and Amortization Expense	The following table presents the depreciation and amortization expense associated with each line item for the three months ended March 31, 2018 and 2017 (in thousands): Three Months Ended March 31, 2018 2017 Services $ 23,579 $ 26,643 Products 1,137 1,309 General and administrative expenses 3,584 3,147 Total $ 28,300 $ 31,099

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Other Assets	Other assets at March 31, 2018 and December 31, 2017 consisted of the following (in thousands): March 31, December 31, 2018 2017 Cash surrender value of life insurance policies (1) $ 30,491 $ 30,351 Deposits 2,422 2,564 Other 1,073 2,378 Total other assets $ 33,986 $ 35,293 (1) See Note 9 – Fair Value Measurements

Accounts Payable and Accrued 30

Accounts Payable and Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2018
Payables and Accruals [Abstract]
Summary of Accounts Payable and Accrued Liabilities	Accounts payable and accrued liabilities at March 31, 2018 and December 31, 2017 consisted of the following (in thousands): March 31, December 31, 2018 2017 Accounts payable $ 31,899 $ 33,912 Accrued compensation 21,221 25,510 Accrued property and other taxes 12,485 16,908 Accrued severance and other charges 1,072 1,444 Income taxes 13,143 8,091 Accrued purchase orders and other 21,191 23,020 Total accounts payable and accrued liabilities $ 101,011 $ 108,885

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	A summary of financial assets and liabilities that are measured at fair value on a recurring basis, as of March 31, 2018 and December 31, 2017 , were as follows (in thousands): Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total March 31, 2018 Assets: Derivative financial instruments $ — $ 73 $ — $ 73 Investments: Cash surrender value of life insurance policies - deferred compensation plan — 30,491 — 30,491 Marketable securities - other 54 — — 54 Liabilities: Deferred compensation plan — 26,191 — 26,191 December 31, 2017 Assets: Investments: Cash surrender value of life insurance policies - deferred compensation plan $ — $ 30,351 $ — $ 30,351 Marketable securities - other 113 — — 113 Liabilities: Derivative financial instruments — 487 — 487 Deferred compensation plan — 26,797 — 26,797

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Foreign Currency Derivative Contracts Outstanding	As of March 31, 2018 and December 31, 2017 , we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands): March 31, 2018 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 5,025 1.2935 6/15/2018 Euro 9,080 1.2438 6/15/2018 Norwegian krone 5,575 7.7127 6/15/2018 Pound sterling 6,105 1.4035 6/15/2018 December 31, 2017 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 6,226 1.2850 3/15/2018 Euro 5,326 1.1836 3/15/2018 Norwegian krone 6,212 8.3704 3/15/2018 Pound sterling 6,039 1.3419 3/15/2018
Impact of Derivatives Contracts on Condensed Consolidated Balance Sheets	The following table summarizes the location and fair value amounts of all derivative contracts in the condensed consolidated balance sheets as of March 31, 2018 and December 31, 2017 (in thousands): Derivatives not Designated as Hedging Instruments Consolidated Balance Sheet Location March 31, 2018 December 31, 2017 Foreign currency contracts Accounts receivable, net $ 73 $ — Foreign currency contracts Accounts payable and accrued liabilities — (487 )
Impact of Derivatives Contracts on Condensed Consolidated Statements of Operations	The following table summarizes the location and amounts of the realized and unrealized gains and losses on derivative contracts in the condensed consolidated statements of operations (in thousands): Three Months Ended March 31, Derivatives not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative Contracts 2018 2017 Unrealized gain (loss) on foreign currency contracts Other income (expense), net $ 561 $ (456 ) Realized gain (loss) on foreign currency contracts Other income (expense), net (940 ) 255 Total net loss on foreign currency contracts $ (379 ) $ (201 )
Schedule of Derivative Assets, Gross and Net Fair Values	The following table presents the gross and net fair values of our derivatives at March 31, 2018 and December 31, 2017 (in thousands): Derivative Asset Positions Derivative Liability Positions March 31, 2018 December 31, 2017 March 31, 2018 December 31, 2017 Gross position - asset / (liability) $ 115 $ — $ (42 ) $ (487 ) Netting adjustment (42 ) — 42 — Net position - asset / (liability) $ 73 $ — $ — $ (487 )
Schedule of Derivative Liabilities, Gross and Net Fair Values	The following table presents the gross and net fair values of our derivatives at March 31, 2018 and December 31, 2017 (in thousands): Derivative Asset Positions Derivative Liability Positions March 31, 2018 December 31, 2017 March 31, 2018 December 31, 2017 Gross position - asset / (liability) $ 115 $ — $ (42 ) $ (487 ) Netting adjustment (42 ) — 42 — Net position - asset / (liability) $ 73 $ — $ — $ (487 )

Loss Per Common Share (Tables)

Loss Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Loss Per Share, Basic and Diluted	The following table summarizes the basic and diluted loss per share calculations (in thousands, except per share amounts): Three Months Ended March 31, 2018 2017 Numerator Net loss $ (42,073 ) $ (26,663 ) Denominator Basic and diluted weighted average common shares (1) 223,567 222,564 Loss per common share: Basic and diluted $ (0.19 ) $ (0.12 ) (1) Approximate number of unvested restricted stock units and stock to be issued pursuant to the ESPP that have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive when results from operations are at a net loss position. 702 799

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Disaggregation of Revenue	The following table presents our revenues disaggregated by geography based on the location where our services were provided and products sold (in thousands): Three Months Ended March 31, 2018 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 32,607 $ 15,105 $ 17,054 $ 64,766 International 48,733 — 115 1,955 50,803 Total Revenues $ 48,733 $ 32,607 $ 15,220 $ 19,009 $ 115,569 Three Months Ended March 31, 2017 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 30,966 $ 16,559 $ 16,152 $ 63,677 International 46,610 — 386 58 47,054 Total Revenues $ 46,610 $ 30,966 $ 16,945 $ 16,210 $ 110,731 Revenue by geographic area was as follows (in thousands): Three Months Ended March 31, 2018 2017 United States $ 64,766 $ 63,677 Europe/Middle East/Africa 30,246 28,486 Latin America 7,473 9,931 Asia Pacific 5,994 4,563 Other countries 7,090 4,074 Total Revenues $ 115,569 $ 110,731
Reconciliation of Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization from Segments to Consolidated	The following table presents a reconciliation of Segment Adjusted EBITDA to net loss (in thousands): Three Months Ended March 31, 2018 2017 Segment Adjusted EBITDA: International Services $ 2,588 $ 5,286 U.S. Services (1) (9,301 ) (7,215 ) Tubular Sales 2,188 2,254 Blackhawk 2,366 1,211 (2,159 ) 1,536 Interest income, net 944 398 Depreciation and amortization (28,300 ) (31,099 ) Income tax (expense) benefit (6,375 ) 9,118 Gain (loss) on disposal of assets (235 ) 1,472 Foreign currency gain 1,704 746 TRA related adjustments (2,941 ) — Charges and credits (2) (4,711 ) (8,834 ) Net loss $ (42,073 ) $ (26,663 ) (1) Includes all corporate general and administrative expenses. (2) Comprised of Equity-based compensation expense (for the three months ended March 31, 2018 and 2017 : $2,280 and $5,701 , respectively), Mergers and acquisition expense (for the three months ended March 31, 2018 and 2017 : $58 and $449 , respectively), Severance and other charges (for the three months ended March 31, 2018 and 2017 : $1,254 and $1,037 , respectively), Unrealized and realized losses (for the three months ended March 31, 2018 and 2017 : $400 and $608 , respectively) and Investigation-related matters (for the three months ended March 31, 2018 and 2017 : $719 and $1,039 , respectively).
Schedule of Financial Information, by Reportable Segments	The following tables set forth certain financial information with respect to our reportable segments (in thousands): International Services U.S. Services Tubular Sales Blackhawk Eliminations Total Three Months Ended March 31, 2018 Revenue from external customers $ 48,733 $ 32,607 $ 15,220 $ 19,009 $ — $ 115,569 Inter-segment revenue (23 ) 4,216 97 210 (4,500 ) — Operating income (loss) (11,721 ) (21,980 ) 1,265 (2,471 ) — (34,907 ) Adjusted EBITDA 2,588 (9,301 ) 2,188 2,366 — * Three Months Ended March 31, 2017 Revenue from external customers $ 46,610 $ 30,966 $ 16,945 $ 16,210 $ — $ 110,731 Inter-segment revenue 3 4,285 3,675 — (7,963 ) — Operating income (loss) (9,513 ) (23,347 ) 2,380 (6,130 ) — (36,610 ) Adjusted EBITDA 5,286 (7,215 ) 2,254 1,211 — * * Non-GAAP financial measure not disclosed.

Basis of Presentation - Reclass

Basis of Presentation - Reclassifications to Previously Reported Amounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenues - Services	$ 63,210	$ 51,683
Cost of revenues - Products	$ 18,747	22,269
As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenues - Services		57,107
Cost of revenues - Products		16,845
Blackhawk adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenues - Services		(5,424)
Cost of revenues - Products		$ 5,424

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Effect of New Accounting Pronouncements (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Assets
Inventories, net	$ 72,507	$ 72,860	$ 76,420
Liabilities
Deferred revenue	64	473	4,703
Stockholders' Equity
Retained earnings	$ 65,520	107,593	106,923
Before ASU 2014-09
Assets
Inventories, net			76,420
Liabilities
Deferred revenue			4,703
Stockholders' Equity
Retained earnings			$ 106,923
Accounting Standards Update 2014-09 | Adjustments due to ASU 2014-09
Assets
Inventories, net		(3,560)
Liabilities
Deferred revenue		(4,230)
Stockholders' Equity
Retained earnings		$ 670

Revenues (Details)

Revenues (Details)	3 Months Ended
	Mar. 31, 2018
Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Payment term	30 days
Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Payment term	120 days

Accounts Receivable, net (Detai

Accounts Receivable, net (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Trade accounts receivable, net of allowance of $4,972 and $4,777, respectively	$ 88,993	$ 83,482
Allowance for trade accounts receivable	4,972	4,777
Unbilled revenue	25,470	25,670
Taxes receivable	11,008	11,305
Affiliated	549	716
Other receivables	6,243	6,037
Total accounts receivable, net	$ 132,263	$ 127,210

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Pipe and connectors, net of allowance of $19,868 and $20,064, respectively	$ 27,930		$ 33,620
Finished goods, net of allowance of $1,517 and $1,520, respectively	15,016		14,541
Work in progress	9,179		9,206
Raw materials, components and supplies	20,382		19,053
Total inventories, net	72,507	$ 72,860	76,420
Pipe and Connectors
Inventory [Line Items]
Allowance	19,868		20,064
Finished Goods
Inventory [Line Items]
Allowance	$ 1,517		$ 1,520

Property, Plant and Equipment40

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Sep. 30, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,234,758		$ 1,231,579
Less: Accumulated depreciation	(785,605)		(761,933)
Total property, plant and equipment, net	449,153		469,646
Proceeds from sale of assets	1,639	$ 1,636
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	15,365		15,314
Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 15,080		14,594
Land improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	8 years
Land improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Buildings and improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives	39 years
Property, plant and equipment, gross	$ 117,003		119,380
Buildings and improvements | Middle East region
Property, Plant and Equipment [Line Items]
Reclassification of property, plant and equipment to assets held for sale				$ 4,100
Proceeds from sale of assets	$ 800
Rental machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Property, plant and equipment, gross	$ 900,702		898,146
Machinery and equipment - other
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Property, plant and equipment, gross	$ 55,351		55,049
Furniture, fixtures and computers
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Property, plant and equipment, gross	$ 27,697		27,259
Automobiles and other vehicles
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Property, plant and equipment, gross	$ 30,001		29,971
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 11,915		10,030
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Construction in progress - machinery and equipment and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 61,644		$ 61,836

Property, Plant and Equipment -

Property, Plant and Equipment - Depreciation and Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 28,300	$ 31,099
Services
Property, Plant and Equipment [Line Items]
Depreciation and amortization	23,579	26,643
Products
Property, Plant and Equipment [Line Items]
Depreciation and amortization	1,137	1,309
General and administrative expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 3,584	$ 3,147

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Cash surrender value of life insurance policies	$ 30,491	$ 30,351
Deposits	2,422	2,564
Other	1,073	2,378
Total other assets	$ 33,986	$ 35,293

Accounts Payable and Accrued 43

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Accounts payable	$ 31,899	$ 33,912
Accrued compensation	21,221	25,510
Accrued property and other taxes	12,485	16,908
Accrued severance and other charges	1,072	1,444
Income taxes	13,143	8,091
Accrued purchase orders and other	21,191	23,020
Total accounts payable and accrued liabilities	$ 101,011	$ 108,885

Debt (Details)

Debt (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)note	Dec. 31, 2016USD ($)
Line of Credit Facility [Line Items]
Total outstanding	$ 3,266,000	$ 4,721,000
2017 Insurance Note Payable [Member] | Insurance Notes Payable
Line of Credit Facility [Line Items]
Number of notes financed | note		3
Face amount		$ 5,100,000
Interest rate		2.90%
Total outstanding	3,200,000	$ 4,700,000
Revolving Credit Facility | Credit Facility | Revolving Credit Facility Maturing August 2018
Line of Credit Facility [Line Items]
Maximum borrowing capacity limit	100,000,000
Maximum additional borrowing capacity	150,000,000
Letters of credit, amount outstanding	2,500,000	2,800,000
Credit facility, amount outstanding	$ 0	0
Borrowing capacity multiplier	2.5
Maximum debt to adjusted EBITDA ratio	2.50
Minimum EBITDA to interest expense ratio	3
Revolving Credit Facility | Credit Facility | Revolving Credit Facility Maturing August 2018 | Minimum
Line of Credit Facility [Line Items]
Unused capacity, commitment fee	0.25%
Revolving Credit Facility | Credit Facility | Revolving Credit Facility Maturing August 2018 | Maximum
Line of Credit Facility [Line Items]
Unused capacity, commitment fee	0.375%
Revolving Credit Facility | Credit Facility | Revolving Credit Facility Maturing August 2018 | Interest Option 1, Base Rate | Federal Funds Effective Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Credit Facility | Revolving Credit Facility Maturing August 2018 | Interest Option 1, Base Rate | Eurodollar
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Revolving Credit Facility | Credit Facility | Revolving Credit Facility Maturing August 2018 | Interest Option 1, Base Rate | Eurodollar | Minimum
Line of Credit Facility [Line Items]
Additional spread on variable rate	0.50%
Revolving Credit Facility | Credit Facility | Revolving Credit Facility Maturing August 2018 | Interest Option 1, Base Rate | Eurodollar | Maximum
Line of Credit Facility [Line Items]
Additional spread on variable rate	1.50%
Revolving Credit Facility | Credit Facility | Revolving Credit Facility Maturing August 2018 | Interest Option 2, Adjusted Eurodollar Rate | Eurodollar
Line of Credit Facility [Line Items]
Threshold period for change in interest payment schedule	3 months
Revolving Credit Facility | Credit Facility | Revolving Credit Facility Maturing August 2018 | Interest Option 2, Adjusted Eurodollar Rate | Eurodollar | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
Revolving Credit Facility | Credit Facility | Revolving Credit Facility Maturing August 2018 | Interest Option 2, Adjusted Eurodollar Rate | Eurodollar | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.50%
Letter of Credit | Credit Facility | Revolving Credit Facility Maturing August 2018
Line of Credit Facility [Line Items]
Maximum borrowing capacity limit	$ 20,000,000
Swing Line Loan | Credit Facility | Revolving Credit Facility Maturing August 2018
Line of Credit Facility [Line Items]
Maximum borrowing capacity limit	10,000,000
Citibank Credit Facility | Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity limit			$ 6,000,000
Letters of credit, amount outstanding	$ 2,600,000	$ 2,600,000
Expiration period			3 years
Fixed interest rate, short-term			1.25%
Fixed interest rate, long-term			1.50%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets:
Derivative financial instruments	$ 73	$ 0
Liabilities:
Derivative financial instruments	0	487
Fair Value, Measurements, Recurring
Assets:
Derivative financial instruments	73
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	30,491	30,351
Liabilities:
Derivative financial instruments		487
Fair Value, Measurements, Recurring | Deferred compensation plan
Liabilities:
Deferred compensation plan	26,191	26,797
Fair Value, Measurements, Recurring | Marketable securities - other
Investments:
Marketable securities - other	54	113
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1)
Assets:
Derivative financial instruments	0
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	0	0
Liabilities:
Derivative financial instruments		0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | Deferred compensation plan
Liabilities:
Deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1) | Marketable securities - other
Investments:
Marketable securities - other	54	113
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Derivative financial instruments	73
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	30,491	30,351
Liabilities:
Derivative financial instruments		487
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Deferred compensation plan
Liabilities:
Deferred compensation plan	26,191	26,797
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Marketable securities - other
Investments:
Marketable securities - other	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Derivative financial instruments	0
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	0	0
Liabilities:
Derivative financial instruments		0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Deferred compensation plan
Liabilities:
Deferred compensation plan	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Marketable securities - other
Investments:
Marketable securities - other	$ 0	$ 0

Derivatives - Foreign Currency

Derivatives - Foreign Currency Derivative Contracts Outstanding (Details) - Not Designated as Hedging Instrument - Foreign currency contracts $ in Thousands	Mar. 31, 2018USD ($)$ / $$ / €$ / £$ / kr	Dec. 31, 2017USD ($)$ / $$ / €$ / £$ / kr
Canadian dollar
Derivative [Line Items]
Notional Amount	$ 5,025	$ 6,226
Contractual Exchange Rate | $ / $	1.2935	1.2850
Euro
Derivative [Line Items]
Notional Amount	$ 9,080	$ 5,326
Contractual Exchange Rate | $ / €	1.2438	1.1836
Norwegian krone
Derivative [Line Items]
Notional Amount	$ 5,575	$ 6,212
Contractual Exchange Rate | $ / kr	7.7127	8.3704
Pound sterling
Derivative [Line Items]
Notional Amount	$ 6,105	$ 6,039
Contractual Exchange Rate | $ / £	1.4035	1.3419

Derivatives - Impact of Derivat

Derivatives - Impact of Derivatives Contracts on Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Derivative assets	$ 73	$ 0
Derivative liabilities	0	(487)
Not Designated as Hedging Instrument | Foreign currency contracts | Accounts receivable, net
Derivative [Line Items]
Derivative assets	73	0
Not Designated as Hedging Instrument | Foreign currency contracts | Accounts payable and accrued liabilities
Derivative [Line Items]
Derivative liabilities	$ 0	$ (487)

Derivatives - Impact of Deriv48

Derivatives - Impact of Derivatives Contracts on Condensed Consolidated Statements of Operations (Details) - Not Designated as Hedging Instrument - Other income (expense), net - Foreign currency contracts - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative [Line Items]
Unrealized gain (loss) on foreign currency contracts	$ 561	$ (456)
Realized gain (loss) on foreign currency contracts	(940)	255
Total net loss on foreign currency contracts	$ (379)	$ (201)

Derivatives - Gross and Net Fai

Derivatives - Gross and Net Fair Value of Derivatives (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivative Asset Positions
Gross position - asset / (liability)	$ 115	$ 0
Netting adjustment	(42)	0
Net position - asset / (liability)	73	0
Derivative Liability Positions
Gross position - asset / (liability)	(42)	(487)
Netting adjustment	42	0
Net position - asset / (liability)	$ 0	$ (487)

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	Aug. 26, 2016	Mar. 31, 2017USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Related Party Transaction [Line Items]
Net book value associated with buildings			$ 449,153		$ 469,646
Conversion ratio, preferred stock to common stock	1
Percentage retained under tax receivable agreement	15.00%
Estimated termination payment			$ 54,600
Discount rate, tax receivable agreement liability			5.85%
Buildings and improvements
Related Party Transaction [Line Items]
Estimated remaining useful life			39 years
Affiliated Entity
Related Party Transaction [Line Items]
Lessee, operating lease, renewal term			36 months
Rent expense			$ 2,200	$ 1,800
Affiliated Entity | Western Airways
Related Party Transaction [Line Items]
Proceeds from sale of aircraft		$ 1,300
Gain on sale of asset		$ 1,300
Affiliated Entity | Mosing Holdings
Related Party Transaction [Line Items]
Percentage of tax benefits realized payable	85.00%
Cumulative deficit, period			36 months
Tax receivable agreement, estimated liability			$ 5,100
Affiliated Entity | Buildings and improvements
Related Party Transaction [Line Items]
Net book value associated with buildings			$ 58,800
Estimated remaining useful life			38 years
Affiliated Entity | Leasehold improvements and land improvements
Related Party Transaction [Line Items]
Net book value associated with buildings			$ 18,000
Estimated remaining useful life			10 years

Loss Per Common Share (Details)

Loss Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator
Net loss	$ (42,073)	$ (26,663)
Denominator
Basic and diluted weighted average common shares	223,567	222,564
Loss per common share:
Basic and diluted (in dollars per share)	$ (0.19)	$ (0.12)
Approximate number of unvested restricted stock units and stock to be issued pursuant to the ESPP that have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive when results from operations are at a net loss position.	702	799

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate	(17.90%)	25.50%

Segment Information (Details)

Segment Information (Details)	3 Months Ended
	Mar. 31, 2018segmentft
Segment Reporting Information [Line Items]
Number of reportable segments | segment	4
Maximum | Tubular Sales
Segment Reporting Information [Line Items]
Length of tubulars used as caissons or pilings (in feet) (up to) | ft	300

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue by Revenue Source and Geography (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Total Revenues	$ 115,569	$ 110,731
United States
Disaggregation of Revenue [Line Items]
Total Revenues	64,766	63,677
International
Disaggregation of Revenue [Line Items]
Total Revenues	50,803	47,054
Europe/Middle East/Africa
Disaggregation of Revenue [Line Items]
Total Revenues	30,246	28,486
Latin America
Disaggregation of Revenue [Line Items]
Total Revenues	7,473	9,931
Asia Pacific
Disaggregation of Revenue [Line Items]
Total Revenues	5,994	4,563
Other countries
Disaggregation of Revenue [Line Items]
Total Revenues	7,090	4,074
International Services
Disaggregation of Revenue [Line Items]
Total Revenues	48,733	46,610
International Services | United States
Disaggregation of Revenue [Line Items]
Total Revenues	0	0
International Services | International
Disaggregation of Revenue [Line Items]
Total Revenues	48,733	46,610
U.S. Services
Disaggregation of Revenue [Line Items]
Total Revenues	32,607	30,966
U.S. Services | United States
Disaggregation of Revenue [Line Items]
Total Revenues	32,607	30,966
U.S. Services | International
Disaggregation of Revenue [Line Items]
Total Revenues	0	0
Tubular Sales
Disaggregation of Revenue [Line Items]
Total Revenues	15,220	16,945
Tubular Sales | United States
Disaggregation of Revenue [Line Items]
Total Revenues	15,105	16,559
Tubular Sales | International
Disaggregation of Revenue [Line Items]
Total Revenues	115	386
Blackhawk
Disaggregation of Revenue [Line Items]
Total Revenues	19,009	16,210
Blackhawk | United States
Disaggregation of Revenue [Line Items]
Total Revenues	17,054	16,152
Blackhawk | International
Disaggregation of Revenue [Line Items]
Total Revenues	$ 1,955	$ 58

Segment Information - Reconcili

Segment Information - Reconciliation of Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	$ (2,159)	$ 1,536
Interest income, net	944	398
Depreciation and amortization	(28,300)	(31,099)
Income tax (expense) benefit	(6,375)	9,118
Gain (loss) on disposal of assets	(235)	1,472
Foreign currency gain	1,704	746
TRA related adjustments	(2,941)	0
Charges and credits	(4,711)	(8,834)
Net loss	(42,073)	(26,663)
Equity-based compensation expense	2,280	5,701
Merger and acquisition expense	58	449
Severance and other charges	1,254	1,037
Unrealized and realized losses	400	608
Investigation-related matters	$ 719	$ 1,039

Segment Information - Financial

Segment Information - Financial Information with Respect to Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue from External Customer [Line Items]
Revenue	$ 115,569	$ 110,731
Operating income (loss)	(34,907)	(36,610)
Adjusted EBITDA	(2,159)	1,536
Operating Segments | International Services
Revenue from External Customer [Line Items]
Revenue	48,733	46,610
Operating income (loss)	(11,721)	(9,513)
Adjusted EBITDA	2,588	5,286
Operating Segments | U.S. Services
Revenue from External Customer [Line Items]
Revenue	32,607	30,966
Operating income (loss)	(21,980)	(23,347)
Adjusted EBITDA	(9,301)	(7,215)
Operating Segments | Tubular Sales
Revenue from External Customer [Line Items]
Revenue	15,220	16,945
Operating income (loss)	1,265	2,380
Adjusted EBITDA	2,188	2,254
Operating Segments | Blackhawk
Revenue from External Customer [Line Items]
Revenue	19,009	16,210
Operating income (loss)	(2,471)	(6,130)
Adjusted EBITDA	2,366	1,211
Eliminations
Revenue from External Customer [Line Items]
Revenue	(4,500)	(7,963)
Eliminations | International Services
Revenue from External Customer [Line Items]
Revenue	(23)	3
Eliminations | U.S. Services
Revenue from External Customer [Line Items]
Revenue	4,216	4,285
Eliminations | Tubular Sales
Revenue from External Customer [Line Items]
Revenue	97	3,675
Eliminations | Blackhawk
Revenue from External Customer [Line Items]
Revenue	$ 210	$ 0