Expro (XPRO) 10-Q 6 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 31, 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	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		224,242,222

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 166,127	$ 213,015
Short-term investments	80,438	81,021
Accounts receivables, net	163,020	127,210
Inventories, net	70,925	76,420
Assets held for sale	12,048	3,792
Other current assets	8,271	10,437
Total current assets	500,829	511,895
Property, plant and equipment, net	398,695	469,646
Goodwill	211,040	211,040
Intangible assets, net	26,838	33,895
Other assets	35,000	35,293
Total assets	1,172,402	1,261,769
Current liabilities:
Short-term debt	432	4,721
Accounts payable and accrued liabilities	94,484	108,885
Deferred revenue	125	4,703
Total current liabilities	95,041	118,309
Deferred tax liabilities	223	229
Other non-current liabilities	27,955	27,330
Total liabilities	123,219	145,868
Commitments and contingencies (Note 14)
Stockholders' equity:
Common stock, €0.01 par value, 798,096,000 shares authorized, 225,397,828 and 224,228,071 shares issued and 224,228,269 and 223,289,389 shares outstanding	2,828	2,814
Additional paid-in capital	1,060,350	1,050,873
Retained earnings	32,758	106,923
Accumulated other comprehensive loss	(31,515)	(30,972)
Treasury stock (at cost), 1,169,559 and 938,682 shares	(15,238)	(13,737)
Total stockholders' equity	1,049,183	1,115,901
Total liabilities and equity	$ 1,172,402	$ 1,261,769

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - € / shares	Sep. 30, 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	225,397,828	224,228,071
Common stock, shares, outstanding	224,228,269	223,289,389
Treasury stock, shares at cost	1,169,559	938,682

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Revenue	$ 128,986	$ 108,083	$ 376,640	$ 336,473
Cost of revenues, exclusive of depreciation and amortization
General and administrative expenses	37,526	39,963	116,608	125,107
Depreciation and amortization	26,998	30,650	84,160	92,700
Severance and other charges (credits), net	(4,852)	1,648	(2,483)	2,386
Gain on disposal of assets	(2,242)	(829)	(1,790)	(2,091)
Operating loss	(13,591)	(35,080)	(72,280)	(105,656)
Other income (expense):
Tax receivable agreement (“TRA”) related adjustments	(1,170)	122,515	(5,282)	122,515
Other income (expense), net	314	(384)	1,907	348
Interest income, net	866	1,019	2,419	2,170
Mergers and acquisition expense	0	0	(58)	(459)
Foreign currency gain (loss)	(879)	1,839	(3,442)	3,184
Total other income (expense)	(869)	124,989	(4,456)	127,758
Income (loss) before income taxes	(14,460)	89,909	(76,736)	22,102
Income tax expense (benefit)	(7,461)	87,613	(1,901)	72,419
Net income (loss)	$ (6,999)	$ 2,296	$ (74,835)	$ (50,317)
Dividends per common share (in dollars per share)	$ 0	$ 0.075	$ 0	$ 0.225
Income (loss) per common share:
Basic (in dollars per share)	(0.03)	0.01	(0.33)	(0.23)
Diluted (in dollars per share)	$ (0.03)	$ 0.01	$ (0.33)	$ (0.23)
Weighted average common shares outstanding:
Basic (in shares)	224,182	223,056	223,912	222,847
Diluted (in shares)	224,182	223,581	223,912	222,847
Service
Revenues:
Revenue	$ 103,911	$ 92,547	$ 301,005	$ 272,402
Cost of revenues, exclusive of depreciation and amortization
Cost of revenues	65,726	55,501	193,951	162,501
Product
Revenues:
Revenue	25,075	15,536	75,635	64,071
Cost of revenues, exclusive of depreciation and amortization
Cost of revenues	$ 19,421	$ 16,230	$ 58,474	$ 61,526

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (6,999)	$ 2,296	$ (74,835)	$ (50,317)
Other comprehensive income (loss):
Foreign currency translation adjustments	95	1,488	(653)	2,809
Marketable securities:
Unrealized gain (loss) on marketable securities	28	(101)	110	(105)
Reclassification to net income	0	0	0	(395)
Deferred tax asset / liability change	0	0	0	158
Unrealized gain (loss) on marketable securities, net of tax	28	(101)	110	(342)
Total other comprehensive income (loss)	123	1,387	(543)	2,467
Comprehensive income (loss)	$ (6,876)	$ 3,683	$ (75,378)	$ (47,850)

CONDENSED CONSOLIDATED STATEM_3

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	(50,317)			(50,317)
Foreign currency translation adjustments	2,809				2,809
Change in marketable securities	(342)				(342)
Equity-based compensation expense	11,458		11,458
Common stock dividends	(50,424)			(50,424)
Common shares issued upon vesting of share-based awards (in shares)		694
Common shares issued upon vesting of share-based awards	0	$ 7	(7)
Common shares issued for employee stock purchase plan (ESPP) (in shares)		50
Common shares issued for employee stock purchase plan (“ESPP”)	512	$ 1	511
Treasury shares issued upon vesting of share-based awards (in shares)		4
Treasury shares issued upon vesting of share-based awards	(18)		(84)			66
Treasury shares issued for ESPP (in shares)		106
Treasury shares issued for ESPP	740	$ 0	(166)	(736)		1,642
Treasury shares withheld (in shares)		(193)
Treasury shares withheld	(2,254)					(2,254)
Balance at end of period (in shares) at Sep. 30, 2017		223,062
Balance at end of period at Sep. 30, 2017	1,223,483	$ 2,810	1,048,498	215,793	(30,510)	(13,108)
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	(74,835)			(74,835)
Foreign currency translation adjustments	(653)				(653)
Change in marketable securities	110				110
Equity-based compensation expense	8,176		8,176
Common shares issued upon vesting of share-based awards (in shares)		938
Common shares issued upon vesting of share-based awards	0	$ 11	(11)
Common shares issued for employee stock purchase plan (ESPP) (in shares)		232
Common shares issued for employee stock purchase plan (“ESPP”)	1,315	$ 3	1,312			0
Treasury shares withheld (in shares)		(231)
Treasury shares withheld	(1,501)					(1,501)
Balance at end of period (in shares) at Sep. 30, 2018		224,228
Balance at end of period at Sep. 30, 2018	$ 1,049,183	$ 2,828	$ 1,060,350	$ 32,758	$ (31,515)	$ (15,238)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (PARENTHETICAL) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0	$ 0.075	$ 0	$ 0.225

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities
Net loss	$ (74,835)	$ (50,317)
Adjustments to reconcile net loss to cash used in operating activities
Derecognition of the TRA liability	0	122,515
Depreciation and amortization	84,160	92,700
Equity-based compensation expense	8,176	11,458
Amortization of deferred financing costs	0	267
Deferred tax benefit	0	12,824
Reversal of deferred tax assets associated with the TRA	0	49,775
Provision for bad debts	68	358
Gain on disposal of assets	(1,790)	(2,091)
Changes in fair value of investments	(1,295)	(2,009)
Realized loss on sale of investment	0	478
Unrealized (gain) loss on derivatives	(442)	49
Other	0	(1,187)
Changes in operating assets and liabilities
Accounts receivable	(37,252)	23,917
Inventories	(3,470)	6,146
Other current assets	2,237	7,097
Other assets	204	1,948
Accounts payable and accrued liabilities	(10,249)	8,310
Deferred revenue	(346)	(9,039)
Other non-current liabilities	(560)	(3,584)
Net cash (used in) provided by operating activities	(35,394)	24,585
Cash flows from investing activities
Purchases of property, plant and equipment and intangibles	(14,557)	(18,604)
Proceeds from sale of assets	4,419	10,690
Proceeds from sale of investments	67,934	11,499
Purchase of investments	(67,011)	(60,764)
Other	0	(64)
Net cash used in investing activities	(9,215)	(57,243)
Cash flows from financing activities
Repayments of borrowings	(4,289)	(190)
Dividends paid on common stock	0	(50,424)
Net treasury shares withheld for taxes	(1,501)	(2,272)
Proceeds from the issuance of ESPP shares	1,315	1,252
Deferred financing costs	(161)	0
Net cash used in financing activities	(4,636)	(51,634)
Effect of exchange rate changes on cash	2,357	(1,896)
Net decrease in cash and cash equivalents	(46,888)	(86,188)
Cash and cash equivalents at beginning of period	213,015	319,526
Cash and cash equivalents at end of period	166,127	233,338
Non-cash transactions:
Change in accounts payable and accrued liabilities related to capital expenditures	(1,733)	3,983
Transfers from property, plant and equipment to assets held for sale	9,322	3,792
Net transfers from inventory to property, plant and equipment	$ (3,253)	$ (2,348)

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 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 and nine months ended September 30, 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 Nine Months Ended September 30, 2017 September 30, 2017 Cost of revenues, exclusive of depreciation and amortization Services, as previously reported $ 60,981 $ 178,865 Blackhawk adjustment (5,480 ) (16,364 ) Services, as revised $ 55,501 $ 162,501 Products, as previously reported $ 10,750 $ 45,162 Blackhawk adjustment 5,480 16,364 Products, as revised $ 16,230 $ 61,526 During 2018, the Company’s chief operating decision maker (“CODM”) changed the methodology used to allocate bonus and medical claims expenses among segments. Previously, all U.S. bonus and medical claims expenses were absorbed by our U.S. Services segment. Beginning in the first quarter of 2018 for bonus expenses and the second quarter of 2018 for medical claims expenses, a portion of these expenses attributable to Blackhawk employees were allocated to the Blackhawk segment. The change in the allocation of all U.S. bonus and medical claims expenses had no impact on our consolidated operating income (loss), net income (loss), adjusted EBITDA, working capital, cash flows or total equity previously reported. However, segment operating income (loss) and segment adjusted EBITDA for the Blackhawk and U.S. Services segments were impacted. The Blackhawk segment for the three and nine months ended September 30, 2018 was charged $1.6 million and $3.2 million , respectively, for bonus and medical claims expenses which would have previously been charged to the U.S. Services segment. Recent Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) generally in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. We consider the applicability and impact of all accounting pronouncements. 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 June 2018, the FASB issued new guidance which is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent with the accounting for employee share-based compensation. The guidance is effective for annual periods beginning after December 15, 2018, including interim periods within those periods. 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 May 2017, the FASB issued new 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 new 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 both 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. Further, in July 2018, the FASB amended the new lease accounting standard in an effort to reduce the burden of adoption. With the adoption of the new lease accounting standard, as amended, companies have the option of electing to apply the new lease accounting standard either on a retrospective or prospective basis. 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. We are currently evaluating the impact the new accounting guidance for leases will have on our consolidated financial statements and plan to adopt the new lease accounting standard, as amended, on a prospective basis effective January 1, 2019. Additionally, we are implementing an enterprise-wide lease management system to assist in the accounting and are evaluating additional changes to our processes and internal controls to ensure we meet the standard's reporting and disclosure requirements. While we are still evaluating its impact, we anticipate that the adoption of the lease accounting standard will have an impact to the Company's consolidated balance sheets and the disclosures contained in the notes of its consolidated financial statements. At the present time, we do not anticipate any changes to either the statement of operations or statement of cash flows from the adoption of the new lease accounting standard. 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 and nine months ended September 30, 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	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 2018
Receivables [Abstract]
Accounts Receivable, net	Accounts Receivable, net Accounts receivable at September 30, 2018 and December 31, 2017 were as follows (in thousands): September 30, December 31, 2018 2017 Trade accounts receivable, net of allowance of $3,915 and $4,777, respectively $ 98,997 $ 83,482 Unbilled revenue 49,700 25,670 Taxes receivable 9,423 11,305 Affiliated (1) 549 716 Other receivables 4,351 6,037 Total accounts receivable, net $ 163,020 $ 127,210 (1) Amounts represent expenditures on behalf of non-consolidated affiliates.

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventories at September 30, 2018 and December 31, 2017 were as follows (in thousands): September 30, December 31, 2018 2017 Pipe and connectors, net of allowance of $20,911 and $20,064, respectively $ 24,023 $ 33,620 Finished goods, net of allowance of $1,463 and $1,520, respectively 18,142 14,541 Work in progress 8,071 9,206 Raw materials, components and supplies 20,689 19,053 Total inventories, net $ 70,925 $ 76,420

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 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 September 30, 2018 and December 31, 2017 (in thousands): Estimated Useful Lives in Years September 30, December 31, Land — $ 14,827 $ 15,314 Land improvements (1) 8-15 15,082 14,594 Buildings and improvements (1) 39 104,077 119,380 Rental machinery and equipment 7 895,083 898,146 Machinery and equipment - other 7 61,531 55,049 Furniture, fixtures and computers 5 24,718 27,259 Automobiles and other vehicles 5 29,533 29,971 Leasehold improvements (1) 7-15, or lease term if shorter 11,823 10,030 Construction in progress - machinery and equipment and land improvements (1) — 65,277 61,836 1,221,951 1,231,579 Less: Accumulated depreciation (823,256 ) (761,933 ) Total property, plant and equipment, net $ 398,695 $ 469,646 (1) See Note 16—Subsequent Events for additional information. During the third quarter of 2017, we committed to sell certain of our buildings in the International Services segment 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 and recognized a $0.3 million loss. 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. During the second quarter of 2018, additional buildings with a net book value of $4.5 million met the criteria to be classified as held for sale and were reclassified from property, plant and equipment to assets held for sale on our condensed consolidated balance sheet. During the third quarter of 2018, we sold a building classified as held for sale with a net book value of $0.3 million for $2.6 million . In addition, a building with a net book value of $5.0 million met the criteria to be classified as held for sale and was reclassified from property, plant and equipment to assets held for sale on our condensed consolidated balance sheet. The following table presents the depreciation and amortization expense associated with each line item for the three and nine months ended September 30, 2018 and 2017 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Services $ 22,584 $ 25,663 $ 70,465 $ 78,558 Products 1,051 1,278 3,319 3,838 General and administrative expenses 3,363 3,709 10,376 10,304 Total $ 26,998 $ 30,650 $ 84,160 $ 92,700

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets at September 30, 2018 and December 31, 2017 consisted of the following (in thousands): September 30, December 31, 2018 2017 Cash surrender value of life insurance policies (1) $ 31,306 $ 30,351 Deposits 2,619 2,564 Other 1,075 2,378 Total other assets $ 35,000 $ 35,293 (1) See Note 9—Fair Value Measurements for additional information.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	9 Months Ended
	Sep. 30, 2018
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at September 30, 2018 and December 31, 2017 consisted of the following (in thousands): September 30, December 31, 2018 2017 Accounts payable $ 17,064 $ 33,912 Accrued compensation 28,557 25,510 Accrued property and other taxes 13,685 16,908 Accrued severance and other charges 704 1,444 Income taxes 41 8,091 Accrued purchase orders and other 34,433 23,020 Total accounts payable and accrued liabilities $ 94,484 $ 108,885

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt At both September 30, 2018 and December 31, 2017 , we had $2.8 million in letters of credit outstanding. Credit Facility We had 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 matured in August 2018 . During the fourth quarter of 2018, we entered into a new credit facility. Please see Note 16—Subsequent Events for further discussion. 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 September 30, 2018 and December 31, 2017 , we had $2.3 million and $2.6 million , respectively, 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 September 30, 2018 and December 31, 2017 , the total outstanding balance was $0.4 million and $4.7 million , respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 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 September 30, 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 September 30, 2018 Assets: Investments: Cash surrender value of life insurance policies - deferred compensation plan $ — $ 31,306 $ — $ 31,306 Marketable securities - other 54 — — 54 Liabilities: Derivative financial instruments — 45 — 45 Deferred compensation plan — 25,970 — 25,970 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 payable and accrued liabilities at both September 30, 2018 and 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 and assets identified as held for sale, 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	9 Months Ended
	Sep. 30, 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 September 30, 2018 and December 31, 2017 , we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands): September 30, 2018 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 4,307 1.3003 12/17/2018 Euro 5,046 1.1734 12/17/2018 Norwegian krone 6,207 8.2171 12/17/2018 Pound sterling 13,136 1.3136 12/17/2018 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 September 30, 2018 and December 31, 2017 (in thousands): Derivatives not Designated as Hedging Instruments Consolidated Balance Sheet Location September 30, 2018 December 31, 2017 Foreign currency contracts Accounts payable and accrued liabilities $ (45 ) $ (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 Nine Months Ended September 30, September 30, Derivatives not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative Contracts 2018 2017 2018 2017 Unrealized gain (loss) on foreign currency contracts Other income (expense), net $ (323 ) $ 681 $ 442 $ (49 ) Realized gain (loss) on foreign currency contracts Other income (expense), net 447 (1,794 ) 572 (2,346 ) Total net gain (loss) on foreign currency contracts $ 124 $ (1,113 ) $ 1,014 $ (2,395 ) 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 September 30, 2018 and December 31, 2017 (in thousands): Derivative Asset Positions Derivative Liability Positions September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Gross position - asset / (liability) $ 64 $ — $ (109 ) $ (487 ) Netting adjustment (64 ) — 64 — Net position - asset / (liability) $ — $ — $ (45 ) $ (487 )

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 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. Rent expense associated with our related party leases was $1.1 million and $ 1.8 million for the three months ended September 30, 2018 and 2017 , respectively, and $5.0 million and $5.3 million for the nine months ended September 30, 2018 and 2017 , respectively. Please see Note 16—Subsequent Events for further discussion on our related party leases. 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 rentals, 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 $0.4 million and $1.0 million of net charter expense for the three and nine months ended September 30, 2017 , respectively. 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 . In August 2017, we sold an additional aircraft for a net sales price of $4.9 million and recorded an immaterial loss. 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 September 30, 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 $7.4 million as of September 30, 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 September 30, 2018 , the estimated termination payment would be approximately $55.7 million (calculated using a discount rate of 6.13% ). 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.

Income (Loss) Per Common Share

Income (Loss) Per Common Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Income (Loss) Per Common Share	Income (Loss) Per Common Share Basic income (loss) per common share is determined by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share is determined by dividing net income (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 income (loss) per share calculations (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Numerator Net income (loss) $ (6,999 ) $ 2,296 $ (74,835 ) $ (50,317 ) Denominator Basic weighted average common shares 224,182 223,056 223,912 222,847 Restricted stock units (1) — 525 — — Diluted weighted average common shares (1) 224,182 223,581 223,912 222,847 Income (loss) per common share: Basic $ (0.03 ) $ 0.01 $ (0.33 ) $ (0.23 ) Diluted $ (0.03 ) $ 0.01 $ (0.33 ) $ (0.23 ) (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 income (loss) per share as the effect would be anti-dilutive when results from operations are at a net loss position. 1,075 — 779 624

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 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 51.6% and 97.4% for the three months ended September 30, 2018 and 2017 , respectively, and 2.5% and 327.7% for the nine months ended September 30, 2018 and 2017 , respectively. The decrease in tax rates as compared to the same periods last year is primarily due to recording valuation allowances against deferred tax assets related to the U.S. and certain foreign jurisdictions. In both periods we recorded valuation allowances against the net deferred tax assets accrued in that period. However, for the three months ended September 30, 2017 we also recorded valuation allowances against the net deferred tax assets that had been accrued for all periods prior to 2017. The recording of valuation allowances against the accumulated pre-2017 balances resulted in significantly higher tax expense in 2017. 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 September 30, 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	9 Months Ended
	Sep. 30, 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 September 30, 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	9 Months Ended
	Sep. 30, 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 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 tables presents our revenues disaggregated by geography based on the location where our services were provided and products sold (in thousands): Three Months Ended September 30, 2018 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 38,292 $ 12,835 $ 19,096 $ 70,223 International 53,891 — 36 4,836 58,763 Total Revenues $ 53,891 $ 38,292 $ 12,871 $ 23,932 $ 128,986 Three Months Ended September 30, 2017 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 29,065 $ 7,209 $ 17,432 $ 53,706 International 53,742 — 492 143 54,377 Total Revenues $ 53,742 $ 29,065 $ 7,701 $ 17,575 $ 108,083 Nine Months Ended September 30, 2018 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 106,035 $ 41,939 $ 54,568 $ 202,542 International 161,985 — 213 11,900 174,098 Total Revenues $ 161,985 $ 106,035 $ 42,152 $ 66,468 $ 376,640 Nine Months Ended September 30, 2017 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 89,936 $ 39,543 $ 51,374 $ 180,853 International 153,851 — 1,244 525 155,620 Total Revenues $ 153,851 $ 89,936 $ 40,787 $ 51,899 $ 336,473 Revenue by geographic area was as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 United States $ 70,223 $ 53,706 $ 202,542 $ 180,853 Europe/Middle East/Africa 31,972 37,381 96,665 102,586 Latin America 11,984 6,897 32,441 25,957 Asia Pacific 7,026 5,302 20,689 14,791 Other countries 7,781 4,797 24,303 12,286 Total Revenues $ 128,986 $ 108,083 $ 376,640 $ 336,473 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 income (loss) (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Segment Adjusted EBITDA: International Services $ 7,848 $ 11,151 $ 23,894 $ 25,459 U.S. Services (1) (846 ) (11,322 ) (16,526 ) (27,775 ) Tubular Sales 286 (1,333 ) 2,644 1,736 Blackhawk 4,328 3,477 10,398 7,653 11,616 1,973 20,410 7,073 Interest income, net 866 1,019 2,419 2,170 Depreciation and amortization (26,998 ) (30,650 ) (84,160 ) (92,700 ) Income tax (expense) benefit 7,461 (87,613 ) 1,901 (72,419 ) Gain on disposal of assets 2,242 829 1,790 2,091 Foreign currency gain (loss) (879 ) 1,839 (3,442 ) 3,184 TRA related adjustments (1,170 ) 122,515 (5,282 ) 122,515 Charges and credits (2) (137 ) (7,616 ) (8,471 ) (22,231 ) Net income (loss) $ (6,999 ) $ 2,296 $ (74,835 ) $ (50,317 ) (1) Includes all corporate general and administrative expenses. (2) Comprised of Equity-based compensation expense (for the three months ended September 30, 2018 and 2017 : $3,008 and $2,342 , respectively, and for the nine months ended September 30, 2018 and 2017 : $8,176 and $11,458 , respectively), Mergers and acquisition expense (for the three months ended September 30, 2018 and 2017 : none and none , respectively, and for the nine months ended September 30, 2018 and 2017 : $58 and $459 , respectively), Severance and other (charges) credits, net (for the three months ended September 30, 2018 and 2017 : $4,852 and $(1,648) , respectively, and for the nine months ended September 30, 2018 and 2017 : $2,483 and $(2,386) , respectively), Unrealized and realized gains (losses) (for the three months ended September 30, 2018 and 2017 : $360 and $(1,123) , respectively, and for the nine months ended September 30, 2018 and 2017 : $1,521 and $(2,819) , respectively) and Investigation-related matters (for the three months ended September 30, 2018 and 2017 : $2,341 and $2,503 , respectively, and for the nine months ended September 30, 2018 and 2017 : $4,241 and $5,109 , 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 September 30, 2018 Revenue from external customers $ 53,891 $ 38,292 $ 12,871 $ 23,932 $ — $ 128,986 Inter-segment revenue (44 ) 4,694 92 2,036 (6,778 ) — Operating income (loss) 1,423 (14,482 ) (493 ) (39 ) — (13,591 ) Adjusted EBITDA 7,848 (846 ) 286 4,328 — * Three Months Ended September 30, 2017 Revenue from external customers $ 53,742 $ 29,065 $ 7,701 $ 17,575 $ — $ 108,083 Inter-segment revenue 3 4,062 3,111 33 (7,209 ) — Operating loss (2,647 ) (25,453 ) (3,967 ) (3,013 ) — (35,080 ) Adjusted EBITDA 11,151 (11,322 ) (1,333 ) 3,477 — * Nine Months Ended September 30, 2018 Revenue from external customers $ 161,985 $ 106,035 $ 42,152 $ 66,468 $ — $ 376,640 Inter-segment revenue (123 ) 13,549 285 2,590 (16,301 ) — Operating loss (12,350 ) (56,382 ) (57 ) (3,491 ) — (72,280 ) Adjusted EBITDA 23,894 (16,526 ) 2,644 10,398 — * Nine Months Ended September 30, 2017 Revenue from external customers $ 153,851 $ 89,936 $ 40,787 $ 51,899 $ — $ 336,473 Inter-segment revenue 18 12,890 10,350 105 (23,363 ) — Operating loss (19,140 ) (73,092 ) (782 ) (12,642 ) — (105,656 ) Adjusted EBITDA 25,459 (27,775 ) 1,736 7,653 — * * Non-GAAP financial measure not disclosed.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Event	Subsequent Events New Asset Based Revolving Credit Facility On November 5, 2018, FICV, Frank's International, LLC and Blackhawk, as borrowers, and FINV, certain of FINV's subsidiaries, including FICV, Frank’s International, LLC, Blackhawk, Frank's International GP, LLC, Frank's International, LP, Frank's International LP B.V., Frank's International Partners B.V., Frank's International Management B.V., Blackhawk Intermediate Holdings, LLC, Blackhawk Specialty Tools, LLC, and Trinity Tool Rentals, L.L.C., as guarantors, entered into a five -year senior secured revolving credit facility (the “New ABL Credit Facility”) with JPMorgan Chase Bank, N.A., as administrative agent (the “ABL Agent”), and other financial institutions as lenders with total commitments of $100.0 million including up to $15.0 million available for letters of credit. Subject to the terms of the New ABL Credit Facility, we have the ability to increase the commitments to $200.0 million . The maximum amount that the Company may borrow under the New ABL Credit Facility is subject to a borrowing base, which is based on a percentage of certain eligible accounts receivable and eligible inventory, subject to customary reserves and other adjustments. All obligations under the New ABL Credit Facility are fully and unconditionally guaranteed jointly and severally by FINV's subsidiaries, including FICV, Frank's International, LLC, Blackhawk, Frank's International GP, LLC, Frank's International, LP, Frank's International LP B.V., Frank's International Partners B.V., Frank's International Management B.V., Blackhawk Intermediate Holdings, LLC, Blackhawk Specialty Tools, LLC, and Trinity Tool Rentals, L.L.C., subject to customary exceptions and exclusions. In addition, the obligations under the New ABL Credit Facility are secured by first priority liens on substantially all of the assets and property of the borrowers and guarantors, including pledges of equity interests in certain of FINV's subsidiaries, subject to certain exceptions. Borrowings under the New ABL Credit Facility bear interest at FINV's option at either (a) the Alternate Base Rate ( “ ABR ” ) (as defined therein), calculated as the greatest of (i) the rate of interest publicly quoted by the Wall Street Journal, as the “prime rate,” subject to each increase or decrease in such prime rate effective as of the date such change occurs, (ii) the federal funds effective rate that is subject to a 0.00% interest rate floor plus 0.50% , and (iii) the one-month Adjusted LIBO Rate (as defined therein) plus 1.00% , or (b) the Adjusted LIBO Rate (as defined therein), plus, in each case, an applicable margin. The applicable interest rate margin ranges from 1.00% to 1.50% per annum for ABR loans and 2.00% to 2.50% per annum for Eurodollar loans and, in each case, is based on FINV's leverage ratio. The unused portion of the New ABL Credit Facility is subject to a commitment fee that varies from 0.250% to 0.375% per annum, according to average daily unused commitments under the New ABL Credit Facility. Interest on Eurodollar loans is payable at the end of the selected interest period, but no less frequently than quarterly. Interest on ABR loans is payable monthly in arrears. The New ABL Credit Facility contains various covenants and restrictive provisions which limit, subject to certain customary exceptions and thresholds, FINV's ability to, among other things, (1) enter into asset sales; (2) incur additional indebtedness; (3) make investments, acquisitions, or loans and create or incur liens; (4) pay certain dividends or make other distributions and (5) engage in transactions with affiliates. The New ABL Credit Facility also requires FINV to maintain a minimum fixed charge coverage ratio of 1.0 to 1.0 based on the ratio of (a) consolidated EBITDA (as defined therein) minus unfinanced capital expenditures to (b) Fixed Charges (as defined therein), when either (i) an event of default occurs under the New ABL Facility or (ii) availability under the New ABL Credit Facility falls for at least two consecutive calendar days below the greater of (A) $12.5 million and (B) 15% of the lesser of the borrowing base and aggregate commitments (a “FCCR Trigger Event”). Accounts receivable received by FINV’s U.S. subsidiaries that are parties to the New ABL Credit Facility will be deposited into deposit accounts subject to deposit control agreements in favor of the ABL Agent. After a FCCR Trigger Event, these deposit accounts would be subject to “springing” cash dominion. After a FCCR Trigger Event, the Company will be subject to compliance with the fixed charge coverage ratio and “springing” cash dominion until no default exists under the New ABL Credit Facility and availability under the facility for the preceding thirty consecutive days has been equal to at least the greater of (x) $12.5 million and (y) 15% of the lesser of the borrowing base and the aggregate commitments. If FINV fails to perform its obligations under the agreement that results in an event of default, the commitments under the New ABL Credit Facility could be terminated and any outstanding borrowings under the New ABL Credit Facility may be declared immediately due and payable. The New ABL Credit Facility also contains cross default provisions that apply to FINV's other indebtedness. As of November 6, 2018, FINV had no borrowings outstanding under the New ABL Credit Facility, no letters of credit outstanding under the New ABL Credit Facility and availability of $44.7 million . Related Party Leases On November 2, 2018, Frank’s International, LLC entered into a purchase agreement with Mosing Ventures, LLC, Mosing Land & Cattle Company, LLC, Mosing Queens Row Properties, LLC, and 4-M Investments, each of which are companies related to us by common ownership (the “Mosing Companies”). Under the purchase agreement we will acquire real property that we currently lease from the Mosing Companies, and two additional properties located adjacent to those properties. The total purchase price is $36.0 million . Following the execution date, we will have 30 days to identify title defects, and if title defects we identify are not cured, we may terminate the agreement. The properties will be conveyed as-is, except that until 10 years following the Closing Date, the parties will continue to have certain rights and obligations under the terms of the agreements by which some of the purchased properties were acquired by the Mosing Companies at the time of our initial public offering. We expect the purchase to close by the end of 2018. We have made improvements on the purchased properties during the lease period, and the purchase price was calculated excluding the value of those improvements. Once the purchase closes, we will no longer lease the acquired properties from the Mosing Companies. See Note 11—Related Party Transactions.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements of FINV for the three and nine months ended September 30, 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 and nine months ended September 30, 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”) generally in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. We consider the applicability and impact of all accounting pronouncements. 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 June 2018, the FASB issued new guidance which is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent with the accounting for employee share-based compensation. The guidance is effective for annual periods beginning after December 15, 2018, including interim periods within those periods. 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 May 2017, the FASB issued new 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 new 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 both 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. Further, in July 2018, the FASB amended the new lease accounting standard in an effort to reduce the burden of adoption. With the adoption of the new lease accounting standard, as amended, companies have the option of electing to apply the new lease accounting standard either on a retrospective or prospective basis. 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. We are currently evaluating the impact the new accounting guidance for leases will have on our consolidated financial statements and plan to adopt the new lease accounting standard, as amended, on a prospective basis effective January 1, 2019. Additionally, we are implementing an enterprise-wide lease management system to assist in the accounting and are evaluating additional changes to our processes and internal controls to ensure we meet the standard's reporting and disclosure requirements. While we are still evaluating its impact, we anticipate that the adoption of the lease accounting standard will have an impact to the Company's consolidated balance sheets and the disclosures contained in the notes of its consolidated financial statements. At the present time, we do not anticipate any changes to either the statement of operations or statement of cash flows from the adoption of the new lease accounting standard. 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 and nine months ended September 30, 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)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Reclassifications to Previously Reported Amounts	Our financial statements for the three and nine months ended September 30, 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 Nine Months Ended September 30, 2017 September 30, 2017 Cost of revenues, exclusive of depreciation and amortization Services, as previously reported $ 60,981 $ 178,865 Blackhawk adjustment (5,480 ) (16,364 ) Services, as revised $ 55,501 $ 162,501 Products, as previously reported $ 10,750 $ 45,162 Blackhawk adjustment 5,480 16,364 Products, as revised $ 16,230 $ 61,526
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)	9 Months Ended
	Sep. 30, 2018
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable at September 30, 2018 and December 31, 2017 were as follows (in thousands): September 30, December 31, 2018 2017 Trade accounts receivable, net of allowance of $3,915 and $4,777, respectively $ 98,997 $ 83,482 Unbilled revenue 49,700 25,670 Taxes receivable 9,423 11,305 Affiliated (1) 549 716 Other receivables 4,351 6,037 Total accounts receivable, net $ 163,020 $ 127,210 (1) Amounts represent expenditures on behalf of non-consolidated affiliates.

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories at September 30, 2018 and December 31, 2017 were as follows (in thousands): September 30, December 31, 2018 2017 Pipe and connectors, net of allowance of $20,911 and $20,064, respectively $ 24,023 $ 33,620 Finished goods, net of allowance of $1,463 and $1,520, respectively 18,142 14,541 Work in progress 8,071 9,206 Raw materials, components and supplies 20,689 19,053 Total inventories, net $ 70,925 $ 76,420

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	The following is a summary of property, plant and equipment at September 30, 2018 and December 31, 2017 (in thousands): Estimated Useful Lives in Years September 30, December 31, Land — $ 14,827 $ 15,314 Land improvements (1) 8-15 15,082 14,594 Buildings and improvements (1) 39 104,077 119,380 Rental machinery and equipment 7 895,083 898,146 Machinery and equipment - other 7 61,531 55,049 Furniture, fixtures and computers 5 24,718 27,259 Automobiles and other vehicles 5 29,533 29,971 Leasehold improvements (1) 7-15, or lease term if shorter 11,823 10,030 Construction in progress - machinery and equipment and land improvements (1) — 65,277 61,836 1,221,951 1,231,579 Less: Accumulated depreciation (823,256 ) (761,933 ) Total property, plant and equipment, net $ 398,695 $ 469,646 (1) See Note 16—Subsequent Events 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 and nine months ended September 30, 2018 and 2017 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Services $ 22,584 $ 25,663 $ 70,465 $ 78,558 Products 1,051 1,278 3,319 3,838 General and administrative expenses 3,363 3,709 10,376 10,304 Total $ 26,998 $ 30,650 $ 84,160 $ 92,700

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Other Assets	Other assets at September 30, 2018 and December 31, 2017 consisted of the following (in thousands): September 30, December 31, 2018 2017 Cash surrender value of life insurance policies (1) $ 31,306 $ 30,351 Deposits 2,619 2,564 Other 1,075 2,378 Total other assets $ 35,000 $ 35,293 (1) See Note 9—Fair Value Measurements for additional information.

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2018
Payables and Accruals [Abstract]
Summary of Accounts Payable and Accrued Liabilities	Accounts payable and accrued liabilities at September 30, 2018 and December 31, 2017 consisted of the following (in thousands): September 30, December 31, 2018 2017 Accounts payable $ 17,064 $ 33,912 Accrued compensation 28,557 25,510 Accrued property and other taxes 13,685 16,908 Accrued severance and other charges 704 1,444 Income taxes 41 8,091 Accrued purchase orders and other 34,433 23,020 Total accounts payable and accrued liabilities $ 94,484 $ 108,885

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 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 September 30, 2018 Assets: Investments: Cash surrender value of life insurance policies - deferred compensation plan $ — $ 31,306 $ — $ 31,306 Marketable securities - other 54 — — 54 Liabilities: Derivative financial instruments — 45 — 45 Deferred compensation plan — 25,970 — 25,970 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)	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Foreign Currency Derivative Contracts Outstanding	As of September 30, 2018 and December 31, 2017 , we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands): September 30, 2018 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 4,307 1.3003 12/17/2018 Euro 5,046 1.1734 12/17/2018 Norwegian krone 6,207 8.2171 12/17/2018 Pound sterling 13,136 1.3136 12/17/2018 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 September 30, 2018 and December 31, 2017 (in thousands): Derivatives not Designated as Hedging Instruments Consolidated Balance Sheet Location September 30, 2018 December 31, 2017 Foreign currency contracts Accounts payable and accrued liabilities $ (45 ) $ (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 Nine Months Ended September 30, September 30, Derivatives not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative Contracts 2018 2017 2018 2017 Unrealized gain (loss) on foreign currency contracts Other income (expense), net $ (323 ) $ 681 $ 442 $ (49 ) Realized gain (loss) on foreign currency contracts Other income (expense), net 447 (1,794 ) 572 (2,346 ) Total net gain (loss) on foreign currency contracts $ 124 $ (1,113 ) $ 1,014 $ (2,395 )
Schedule of Derivative Assets, Gross and Net Fair Values	The following table presents the gross and net fair values of our derivatives at September 30, 2018 and December 31, 2017 (in thousands): Derivative Asset Positions Derivative Liability Positions September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Gross position - asset / (liability) $ 64 $ — $ (109 ) $ (487 ) Netting adjustment (64 ) — 64 — Net position - asset / (liability) $ — $ — $ (45 ) $ (487 )
Schedule of Derivative Liabilities, Gross and Net Fair Values	The following table presents the gross and net fair values of our derivatives at September 30, 2018 and December 31, 2017 (in thousands): Derivative Asset Positions Derivative Liability Positions September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Gross position - asset / (liability) $ 64 $ — $ (109 ) $ (487 ) Netting adjustment (64 ) — 64 — Net position - asset / (liability) $ — $ — $ (45 ) $ (487 )

Income (Loss) Per Common Share

Income (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Income (Loss) Per Share, Basic and Diluted	The following table summarizes the basic and diluted income (loss) per share calculations (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Numerator Net income (loss) $ (6,999 ) $ 2,296 $ (74,835 ) $ (50,317 ) Denominator Basic weighted average common shares 224,182 223,056 223,912 222,847 Restricted stock units (1) — 525 — — Diluted weighted average common shares (1) 224,182 223,581 223,912 222,847 Income (loss) per common share: Basic $ (0.03 ) $ 0.01 $ (0.33 ) $ (0.23 ) Diluted $ (0.03 ) $ 0.01 $ (0.33 ) $ (0.23 ) (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 income (loss) per share as the effect would be anti-dilutive when results from operations are at a net loss position. 1,075 — 779 624

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Disaggregation of Revenue	The following tables presents our revenues disaggregated by geography based on the location where our services were provided and products sold (in thousands): Three Months Ended September 30, 2018 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 38,292 $ 12,835 $ 19,096 $ 70,223 International 53,891 — 36 4,836 58,763 Total Revenues $ 53,891 $ 38,292 $ 12,871 $ 23,932 $ 128,986 Three Months Ended September 30, 2017 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 29,065 $ 7,209 $ 17,432 $ 53,706 International 53,742 — 492 143 54,377 Total Revenues $ 53,742 $ 29,065 $ 7,701 $ 17,575 $ 108,083 Nine Months Ended September 30, 2018 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 106,035 $ 41,939 $ 54,568 $ 202,542 International 161,985 — 213 11,900 174,098 Total Revenues $ 161,985 $ 106,035 $ 42,152 $ 66,468 $ 376,640 Nine Months Ended September 30, 2017 International Services U.S. Services Tubular Sales Blackhawk Consolidated United States $ — $ 89,936 $ 39,543 $ 51,374 $ 180,853 International 153,851 — 1,244 525 155,620 Total Revenues $ 153,851 $ 89,936 $ 40,787 $ 51,899 $ 336,473 Revenue by geographic area was as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 United States $ 70,223 $ 53,706 $ 202,542 $ 180,853 Europe/Middle East/Africa 31,972 37,381 96,665 102,586 Latin America 11,984 6,897 32,441 25,957 Asia Pacific 7,026 5,302 20,689 14,791 Other countries 7,781 4,797 24,303 12,286 Total Revenues $ 128,986 $ 108,083 $ 376,640 $ 336,473
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 income (loss) (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Segment Adjusted EBITDA: International Services $ 7,848 $ 11,151 $ 23,894 $ 25,459 U.S. Services (1) (846 ) (11,322 ) (16,526 ) (27,775 ) Tubular Sales 286 (1,333 ) 2,644 1,736 Blackhawk 4,328 3,477 10,398 7,653 11,616 1,973 20,410 7,073 Interest income, net 866 1,019 2,419 2,170 Depreciation and amortization (26,998 ) (30,650 ) (84,160 ) (92,700 ) Income tax (expense) benefit 7,461 (87,613 ) 1,901 (72,419 ) Gain on disposal of assets 2,242 829 1,790 2,091 Foreign currency gain (loss) (879 ) 1,839 (3,442 ) 3,184 TRA related adjustments (1,170 ) 122,515 (5,282 ) 122,515 Charges and credits (2) (137 ) (7,616 ) (8,471 ) (22,231 ) Net income (loss) $ (6,999 ) $ 2,296 $ (74,835 ) $ (50,317 ) (1) Includes all corporate general and administrative expenses. (2) Comprised of Equity-based compensation expense (for the three months ended September 30, 2018 and 2017 : $3,008 and $2,342 , respectively, and for the nine months ended September 30, 2018 and 2017 : $8,176 and $11,458 , respectively), Mergers and acquisition expense (for the three months ended September 30, 2018 and 2017 : none and none , respectively, and for the nine months ended September 30, 2018 and 2017 : $58 and $459 , respectively), Severance and other (charges) credits, net (for the three months ended September 30, 2018 and 2017 : $4,852 and $(1,648) , respectively, and for the nine months ended September 30, 2018 and 2017 : $2,483 and $(2,386) , respectively), Unrealized and realized gains (losses) (for the three months ended September 30, 2018 and 2017 : $360 and $(1,123) , respectively, and for the nine months ended September 30, 2018 and 2017 : $1,521 and $(2,819) , respectively) and Investigation-related matters (for the three months ended September 30, 2018 and 2017 : $2,341 and $2,503 , respectively, and for the nine months ended September 30, 2018 and 2017 : $4,241 and $5,109 , 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 September 30, 2018 Revenue from external customers $ 53,891 $ 38,292 $ 12,871 $ 23,932 $ — $ 128,986 Inter-segment revenue (44 ) 4,694 92 2,036 (6,778 ) — Operating income (loss) 1,423 (14,482 ) (493 ) (39 ) — (13,591 ) Adjusted EBITDA 7,848 (846 ) 286 4,328 — * Three Months Ended September 30, 2017 Revenue from external customers $ 53,742 $ 29,065 $ 7,701 $ 17,575 $ — $ 108,083 Inter-segment revenue 3 4,062 3,111 33 (7,209 ) — Operating loss (2,647 ) (25,453 ) (3,967 ) (3,013 ) — (35,080 ) Adjusted EBITDA 11,151 (11,322 ) (1,333 ) 3,477 — * Nine Months Ended September 30, 2018 Revenue from external customers $ 161,985 $ 106,035 $ 42,152 $ 66,468 $ — $ 376,640 Inter-segment revenue (123 ) 13,549 285 2,590 (16,301 ) — Operating loss (12,350 ) (56,382 ) (57 ) (3,491 ) — (72,280 ) Adjusted EBITDA 23,894 (16,526 ) 2,644 10,398 — * Nine Months Ended September 30, 2017 Revenue from external customers $ 153,851 $ 89,936 $ 40,787 $ 51,899 $ — $ 336,473 Inter-segment revenue 18 12,890 10,350 105 (23,363 ) — Operating loss (19,140 ) (73,092 ) (782 ) (12,642 ) — (105,656 ) Adjusted EBITDA 25,459 (27,775 ) 1,736 7,653 — * * 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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Service
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenues	$ 65,726	$ 55,501	$ 193,951	$ 162,501
Service | As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenues		60,981		178,865
Service | Blackhawk adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenues		(5,480)		(16,364)
Product
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenues	$ 19,421	16,230	$ 58,474	61,526
Product | As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenues		10,750		45,162
Product | Blackhawk adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenues		$ 5,480		$ 16,364

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Effect of New Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Assets
Inventories, net	$ 70,925	$ 72,860	$ 76,420
Liabilities
Deferred revenue	125	473	4,703
Stockholders' Equity
Retained earnings	$ 32,758	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

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Blackhawk
Segment Reporting Information [Line Items]
Bonus and medical claim expenses	$ 1.6	$ 3.2

Revenues (Details)

Revenues (Details)	9 Months Ended
	Sep. 30, 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	Sep. 30, 2018	Dec. 31, 2017
Receivables [Abstract]
Trade accounts receivable, net of allowance of $3,915 and $4,777, respectively	$ 98,997	$ 83,482
Allowance for trade accounts receivable	3,915	4,777
Unbilled revenue	49,700	25,670
Taxes receivable	9,423	11,305
Affiliated	549	716
Other receivables	4,351	6,037
Total accounts receivable, net	$ 163,020	$ 127,210

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Pipe and connectors, net of allowance of $20,911 and $20,064, respectively	$ 24,023		$ 33,620
Finished goods, net of allowance of $1,463 and $1,520, respectively	18,142		14,541
Work in progress	8,071		9,206
Raw materials, components and supplies	20,689		19,053
Total inventories, net	70,925	$ 72,860	76,420
Pipe and Connectors
Inventory [Line Items]
Allowance	20,911		20,064
Finished Goods
Inventory [Line Items]
Allowance	$ 1,463		$ 1,520

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,221,951			$ 1,221,951			$ 1,231,579
Less: Accumulated depreciation	(823,256)			(823,256)			(761,933)
Total property, plant and equipment, net	398,695			398,695			469,646
Proceeds from sale of assets				4,419	$ 10,690
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	14,827			14,827			15,314
Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	15,082			$ 15,082			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	104,077			$ 104,077			119,380
Rental machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives				7 years
Property, plant and equipment, gross	895,083			$ 895,083			898,146
Machinery and equipment - other
Property, Plant and Equipment [Line Items]
Estimated useful lives				7 years
Property, plant and equipment, gross	61,531			$ 61,531			55,049
Furniture, fixtures and computers
Property, Plant and Equipment [Line Items]
Estimated useful lives				5 years
Property, plant and equipment, gross	24,718			$ 24,718			27,259
Automobiles and other vehicles
Property, Plant and Equipment [Line Items]
Estimated useful lives				5 years
Property, plant and equipment, gross	29,533			$ 29,533			29,971
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,823			$ 11,823			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	65,277			$ 65,277			$ 61,836
International Services
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use			$ 300
International Services | Buildings and improvements
Property, Plant and Equipment [Line Items]
Reclassification of property, plant and equipment to assets held for sale	300		$ 4,100	$ 300	$ 4,100	$ 4,500
Proceeds from sale of assets	$ 2,600	$ 800

Property, Plant and Equipment_2

Property, Plant and Equipment - Depreciation and Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 26,998	$ 30,650	$ 84,160	$ 92,700
Services
Property, Plant and Equipment [Line Items]
Depreciation and amortization	22,584	25,663	70,465	78,558
Products
Property, Plant and Equipment [Line Items]
Depreciation and amortization	1,051	1,278	3,319	3,838
General and administrative expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 3,363	$ 3,709	$ 10,376	$ 10,304

Property, Plant and Equipment_3

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018
Property, Plant and Equipment [Line Items]
Proceeds from sale of assets				$ 4,419	$ 10,690
International Services
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets Held-for-use			$ 300
International Services | Buildings and improvements
Property, Plant and Equipment [Line Items]
Reclassification of property, plant and equipment to assets held for sale	$ 300		$ 4,100	300	$ 4,100	$ 4,500
Proceeds from sale of assets	2,600	$ 800
Reclassification of property, plant and equipment to assets held for sale	$ 5,000			$ 5,000

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Cash surrender value of life insurance policies	$ 31,306	$ 30,351
Deposits	2,619	2,564
Other	1,075	2,378
Total other assets	$ 35,000	$ 35,293

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Accounts payable	$ 17,064	$ 33,912
Accrued compensation	28,557	25,510
Accrued property and other taxes	13,685	16,908
Accrued severance and other charges	704	1,444
Income taxes	41	8,091
Accrued purchase orders and other	34,433	23,020
Total accounts payable and accrued liabilities	$ 94,484	$ 108,885

Debt (Details)

Debt (Details)	12 Months Ended
	Dec. 31, 2017USD ($)note	Dec. 31, 2016USD ($)	Sep. 30, 2018USD ($)
Line of Credit Facility [Line Items]
Total outstanding	$ 4,721,000		$ 432,000
2017 Insurance Note Payable | 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	$ 4,700,000		400,000
Revolving Credit Facility | Line of Credit | Revolving Credit Facility Maturing August 2018
Line of Credit Facility [Line Items]
Letters of credit, amount outstanding	2,800,000		2,800,000
Maximum borrowing capacity limit			100,000,000
Letter of Credit | Line of Credit | Revolving Credit Facility Maturing August 2018
Line of Credit Facility [Line Items]
Maximum borrowing capacity limit			20,000,000
Swing Line Loan | Line of Credit | Revolving Credit Facility Maturing August 2018
Line of Credit Facility [Line Items]
Maximum borrowing capacity limit			10,000,000
Citibank Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Letters of credit, amount outstanding	$ 2,600,000		$ 2,300,000
Maximum borrowing capacity limit		$ 6,000,000
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	Sep. 30, 2018	Dec. 31, 2017
Assets:
Derivative financial instruments	$ 0	$ 0
Liabilities:
Derivative financial instruments	45	487
Fair Value, Measurements, Recurring
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	31,306	30,351
Liabilities:
Derivative financial instruments	45	487
Fair Value, Measurements, Recurring | Deferred compensation plan
Liabilities:
Deferred compensation plan	25,970	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)
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	0	0
Liabilities:
Derivative financial instruments	0	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)
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	31,306	30,351
Liabilities:
Derivative financial instruments	45	487
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Deferred compensation plan
Liabilities:
Deferred compensation plan	25,970	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)
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	0	0
Liabilities:
Derivative financial instruments	0	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	Sep. 30, 2018USD ($)$ / $$ / £$ / €$ / kr	Dec. 31, 2017USD ($)$ / $$ / £$ / €$ / kr
Canadian dollar
Derivative [Line Items]
Notional Amount	$ 4,307	$ 6,226
Contractual Exchange Rate | $ / $	1.3003	1.2850
Euro
Derivative [Line Items]
Notional Amount	$ 5,046	$ 5,326
Contractual Exchange Rate | $ / €	1.1734	1.1836
Norwegian krone
Derivative [Line Items]
Notional Amount	$ 6,207	$ 6,212
Contractual Exchange Rate | $ / kr	8.2171	8.3704
Pound sterling
Derivative [Line Items]
Notional Amount	$ 13,136	$ 6,039
Contractual Exchange Rate | $ / £	1.3136	1.3419

Derivatives - Impact of Derivat

Derivatives - Impact of Derivatives Contracts on Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Derivative assets	$ 0	$ 0
Derivative liabilities	(45)	(487)
Not Designated as Hedging Instrument | Foreign currency contracts | Accounts payable and accrued liabilities
Derivative [Line Items]
Derivative liabilities	$ (45)	$ (487)

Derivatives - Impact of Deriv_2

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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Derivative [Line Items]
Unrealized gain (loss) on foreign currency contracts	$ (323)	$ 681	$ 442	$ (49)
Realized gain (loss) on foreign currency contracts	447	(1,794)	572	(2,346)
Total net gain (loss) on foreign currency contracts	$ 124	$ (1,113)	$ 1,014	$ (2,395)

Derivatives - Gross and Net Fai

Derivatives - Gross and Net Fair Value of Derivatives (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Derivative Asset Positions
Gross position - asset / (liability)	$ 64	$ 0
Netting adjustment	(64)	0
Net position - asset / (liability)	0	0
Derivative Liability Positions
Gross position - asset / (liability)	(109)	(487)
Netting adjustment	64	0
Net position - asset / (liability)	$ (45)	$ (487)

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	Aug. 26, 2016	Aug. 31, 2017USD ($)	Mar. 31, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)
Related Party Transaction [Line Items]
Conversion ratio, preferred stock to common stock	1
Percentage retained under tax receivable agreement	15.00%
Estimated termination payment				$ 55.7		$ 55.7
Discount rate, tax receivable agreement liability				6.13%		6.13%
Affiliated Entity
Related Party Transaction [Line Items]
Rent expense				$ 1.1	$ 1.8	$ 5	$ 5.3
Affiliated Entity | Western Airways
Related Party Transaction [Line Items]
Net charter expense					$ 0.4		$ 1
Proceeds from sale of aircraft		$ 4.9	$ 1.3
Gain on sale of asset			$ 1.3
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				$ 7.4		$ 7.4

Income (Loss) Per Common Shar_2

Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator
Net income (loss)	$ (6,999)	$ 2,296	$ (74,835)	$ (50,317)
Denominator
Basic (in shares)	224,182	223,056	223,912	222,847
Restricted stock units (in shares)	0	525	0	0
Diluted (in shares)	224,182	223,581	223,912	222,847
Income (loss) per common share:
Basic (in dollars per share)	$ (0.03)	$ 0.01	$ (0.33)	$ (0.23)
Diluted (in dollars per share)	$ (0.03)	$ 0.01	$ (0.33)	$ (0.23)
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 income (loss) per share as the effect would be anti-dilutive when results from operations are at a net loss position.	1,075	0	779	624

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate	51.60%	97.40%	2.50%	327.70%

Segment Information (Details)

Segment Information (Details)	9 Months Ended
	Sep. 30, 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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Total Revenues	$ 128,986	$ 108,083	$ 376,640	$ 336,473
United States
Disaggregation of Revenue [Line Items]
Total Revenues	70,223	53,706	202,542	180,853
International
Disaggregation of Revenue [Line Items]
Total Revenues	58,763	54,377	174,098	155,620
Europe/Middle East/Africa
Disaggregation of Revenue [Line Items]
Total Revenues	31,972	37,381	96,665	102,586
Latin America
Disaggregation of Revenue [Line Items]
Total Revenues	11,984	6,897	32,441	25,957
Asia Pacific
Disaggregation of Revenue [Line Items]
Total Revenues	7,026	5,302	20,689	14,791
Other countries
Disaggregation of Revenue [Line Items]
Total Revenues	7,781	4,797	24,303	12,286
International Services
Disaggregation of Revenue [Line Items]
Total Revenues	53,891	53,742	161,985	153,851
International Services | United States
Disaggregation of Revenue [Line Items]
Total Revenues	0	0	0	0
International Services | International
Disaggregation of Revenue [Line Items]
Total Revenues	53,891	53,742	161,985	153,851
U.S. Services
Disaggregation of Revenue [Line Items]
Total Revenues	38,292	29,065	106,035	89,936
U.S. Services | United States
Disaggregation of Revenue [Line Items]
Total Revenues	38,292	29,065	106,035	89,936
U.S. Services | International
Disaggregation of Revenue [Line Items]
Total Revenues	0	0	0	0
Tubular Sales
Disaggregation of Revenue [Line Items]
Total Revenues	12,871	7,701	42,152	40,787
Tubular Sales | United States
Disaggregation of Revenue [Line Items]
Total Revenues	12,835	7,209	41,939	39,543
Tubular Sales | International
Disaggregation of Revenue [Line Items]
Total Revenues	36	492	213	1,244
Blackhawk
Disaggregation of Revenue [Line Items]
Total Revenues	23,932	17,575	66,468	51,899
Blackhawk | United States
Disaggregation of Revenue [Line Items]
Total Revenues	19,096	17,432	54,568	51,374
Blackhawk | International
Disaggregation of Revenue [Line Items]
Total Revenues	$ 4,836	$ 143	$ 11,900	$ 525

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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	$ 11,616	$ 1,973	$ 20,410	$ 7,073
Interest income, net	866	1,019	2,419	2,170
Depreciation and amortization	(26,998)	(30,650)	(84,160)	(92,700)
Income tax (expense) benefit	7,461	(87,613)	1,901	(72,419)
Gain on disposal of assets	2,242	829	1,790	2,091
Foreign currency gain (loss)	(879)	1,839	(3,442)	3,184
Tax receivable agreement (“TRA”) related adjustments	(1,170)	122,515	(5,282)	122,515
Charges and credits	(137)	(7,616)	(8,471)	(22,231)
Net income (loss)	(6,999)	2,296	(74,835)	(50,317)
Equity-based compensation expense	3,008	2,342	8,176	11,458
Merger and acquisition expense	0	0	58	459
Severance and other (charges) credits, net	4,852	(1,648)	2,483	(2,386)
Unrealized and realized gains (losses)	360	(1,123)	1,521	(2,819)
Investigation-related matters	2,341	2,503	4,241	5,109
International Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	7,848	11,151	23,894	25,459
U.S. Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	(846)	(11,322)	(16,526)	(27,775)
Tubular Sales
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	286	(1,333)	2,644	1,736
Blackhawk
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	$ 4,328	$ 3,477	$ 10,398	$ 7,653

Segment Information - Financial

Segment Information - Financial Information with Respect to Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue from External Customer [Line Items]
Revenue	$ 128,986	$ 108,083	$ 376,640	$ 336,473
Operating loss	(13,591)	(35,080)	(72,280)	(105,656)
Adjusted EBITDA	11,616	1,973	20,410	7,073
International Services
Revenue from External Customer [Line Items]
Adjusted EBITDA	7,848	11,151	23,894	25,459
U.S. Services
Revenue from External Customer [Line Items]
Adjusted EBITDA	(846)	(11,322)	(16,526)	(27,775)
Tubular Sales
Revenue from External Customer [Line Items]
Adjusted EBITDA	286	(1,333)	2,644	1,736
Blackhawk
Revenue from External Customer [Line Items]
Adjusted EBITDA	4,328	3,477	10,398	7,653
Operating Segments | International Services
Revenue from External Customer [Line Items]
Revenue	53,891	53,742	161,985	153,851
Operating loss	1,423	(2,647)	(12,350)	(19,140)
Operating Segments | U.S. Services
Revenue from External Customer [Line Items]
Revenue	38,292	29,065	106,035	89,936
Operating loss	(14,482)	(25,453)	(56,382)	(73,092)
Operating Segments | Tubular Sales
Revenue from External Customer [Line Items]
Revenue	12,871	7,701	42,152	40,787
Operating loss	(493)	(3,967)	(57)	(782)
Operating Segments | Blackhawk
Revenue from External Customer [Line Items]
Revenue	23,932	17,575	66,468	51,899
Operating loss	(39)	(3,013)	(3,491)	(12,642)
Eliminations
Revenue from External Customer [Line Items]
Revenue	(6,778)	(7,209)	(16,301)	(23,363)
Eliminations | International Services
Revenue from External Customer [Line Items]
Revenue	(44)	3	(123)	18
Eliminations | U.S. Services
Revenue from External Customer [Line Items]
Revenue	4,694	4,062	13,549	12,890
Eliminations | Tubular Sales
Revenue from External Customer [Line Items]
Revenue	92	3,111	285	10,350
Eliminations | Blackhawk
Revenue from External Customer [Line Items]
Revenue	$ 2,036	$ 33	$ 2,590	$ 105

Subsequent Events - New Asset B

Subsequent Events - New Asset Based Loan Credit Facility (Details) - New ABL Credit Facility - Subsequent Event	Nov. 05, 2018USD ($)	Nov. 06, 2018USD ($)
Revolving Credit Facility
Subsequent Event [Line Items]
Covenant, consolidated EBITDA, minimum	1
Line of Credit Facility, Covenant Term, Minimum Fixed Charges	$ 12,500,000
Line of Credit Facility, Covenant Term, Minimum Fixed Charges, Percentage	15.00%
Secured Debt | Revolving Credit Facility
Subsequent Event [Line Items]
Expiration period	5 years
Maximum borrowing capacity limit	$ 100,000,000
Maximum additional borrowing capacity	$ 200,000,000
Federal funds effective rate	0.00%
Basis spread on variable rate	0.50%
Credit facility, amount outstanding		$ 0
Available borrowing capacity		44,700,000
Secured Debt | Letter of Credit
Subsequent Event [Line Items]
Maximum borrowing capacity limit	$ 15,000,000
Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Letters of credit, amount outstanding		$ 0
Minimum | Secured Debt | Revolving Credit Facility
Subsequent Event [Line Items]
Commitment fee percentage	0.25%
Maximum | Secured Debt | Revolving Credit Facility
Subsequent Event [Line Items]
Commitment fee percentage	0.375%
Adjusted LIBO rate | Secured Debt | Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate	1.00%
ABR | Minimum | Secured Debt | Revolving Credit Facility
Subsequent Event [Line Items]
Additional basis spread on variable rate	1.00%
ABR | Maximum | Secured Debt | Revolving Credit Facility
Subsequent Event [Line Items]
Additional basis spread on variable rate	1.50%
Eurodollar | Minimum | Secured Debt | Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate	2.00%
Eurodollar | Maximum | Secured Debt | Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate	2.50%

Subsequent Events - Related Par

Subsequent Events - Related Party Leases (Details) $ in Millions	Nov. 02, 2018USD ($)
Affiliated Entity | Mosing Entities | Subsequent Event
Subsequent Event [Line Items]
Total purchase price	$ 36