Key Energy Services (KEGX) 10-Q9 Nov 172017 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2017	Nov. 03, 2017
Document Documentand Entity Information [Abstract]
Entity Registrant Name	KEY ENERGY SERVICES INC
Entity Central Index Key	318,996
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	KEG
Amendment Flag	false
Entity Common Stock, Shares Outstanding		20,109,885

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 77,657	$ 90,505
Restricted cash	8,700	24,707
Accounts receivable, net of allowance for doubtful accounts of $1,251 and $168, respectively	69,693	71,327
Inventories	19,846	22,269
Other current assets	17,418	25,762
Total current assets	193,314	234,570
Property and equipment	407,536	408,716
Accumulated depreciation	(64,829)	(3,565)
Property and equipment, net	342,707	405,151
Intangible assets, net	477	520
Other non-current assets	14,607	17,740
TOTAL ASSETS	551,105	657,981
Current liabilities:
Accounts payable	11,967	10,357
Current portion of long-term debt	2,500	2,500
Other current liabilities	82,383	103,938
Total current liabilities	96,850	116,795
Long-term debt	243,610	245,477
Workers’ compensation, vehicular and health insurance liabilities	26,545	23,313
Other non-current liabilities	28,488	29,779
Commitments and contingencies
Equity:
Preferred stock, $0.01 par value; 10,000,000 shares authorized, none issued	0	0
Common stock, $0.01 par value; 100,000,000 shares authorized, 20,109,885 and 20,096,462 shares issued and outstanding	201	201
Additional paid-in capital	263,917	252,421
Accumulated other comprehensive loss	0	239
Retained deficit	(108,506)	(10,244)
Total equity	155,612	242,617
TOTAL LIABILITIES AND EQUITY	$ 551,105	$ 657,981

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 1,251	$ 168
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	20,109,885	20,096,462
Common stock, shares outstanding	20,109,885	20,096,462

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
REVENUES	$ 110,653	$ 102,406	$ 319,885	$ 308,506
COSTS AND EXPENSES:
Direct operating expenses	87,115	96,071	237,981	276,088
Depreciation and amortization expense	21,114	33,467	63,325	105,075
General and administrative expenses	37,168	42,456	98,498	129,604
Impairment expense	0	40,000	187	40,000
Operating loss	(34,744)	(109,588)	(80,106)	(242,261)
Interest expense, net of amounts capitalized	8,090	21,120	23,672	64,061
Other (income) loss, net	(4,578)	154	(5,779)	(665)
Reorganization items, net	60	0	1,501	0
Loss before income taxes	(38,316)	(130,862)	(99,500)	(305,657)
Income tax benefit	96	110	1,238	489
NET LOSS	$ (38,220)	$ (130,752)	$ (98,262)	$ (305,168)
Loss per share:
Basic and diluted (per share)	$ (1.90)	$ (0.81)	$ (4.89)	$ (1.90)
Weighted average shares outstanding:
Basic and diluted	20,106	160,846	20,101	160,626

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
NET LOSS	$ (38,220)	$ (130,752)	$ (98,262)	$ (305,168)
Other comprehensive income (loss):
Foreign currency translation income (loss)	(1,257)	(156)	(239)	1,458
COMPREHENSIVE LOSS	$ (39,477)	$ (130,908)	$ (98,501)	$ (303,710)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (98,262)	$ (305,168)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	63,325	105,075
Impairment expense	187	40,000
Bad debt expense	631	1,674
Accretion of asset retirement obligations	146	431
Loss from equity method investments	560	105
Amortization and write-off of deferred financing costs and premium	358	3,901
Deferred income tax benefit	(27)	(501)
Loss (gain) on disposal of assets, net	(26,987)	5,011
Share-based compensation	11,581	3,652
Excess tax expense from share-based compensation	0	3,164
Changes in working capital:
Accounts receivable	1,084	50,240
Other current assets	10,920	3,589
Accounts payable, accrued interest and accrued expenses	(19,943)	(3,983)
Share-based compensation liability awards	0	(227)
Other assets and liabilities	7,794	(11,772)
Net cash used in operating activities	(48,633)	(104,809)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(9,610)	(7,420)
Proceeds from sale of assets	31,844	13,376
Net cash provided by investing activities	22,234	5,956
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term debt	(1,875)	(24,548)
Restricted cash	16,007	(18,605)
Payment of deferred financing costs	(350)	0
Repurchases of common stock	(85)	(165)
Excess tax expense from share-based compensation	0	(3,164)
Net cash provided by (used in) financing activities	13,697	(46,482)
Effect of changes in exchange rates on cash	(146)	(1,908)
Net decrease in cash and cash equivalents	(12,848)	(147,243)
Cash and cash equivalents, beginning of period	90,505	204,354
Cash and cash equivalents, end of period	$ 77,657	$ 57,111

GENERAL

GENERAL	9 Months Ended
GENERAL	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	GENERAL Key Energy Services, Inc., and its wholly owned subsidiaries (collectively, “Key,” the “Company,” “we,” “us,” “its,” and “our”) provide a full range of well services to major oil companies and independent oil and natural gas production companies. Our services include rig-based and coiled tubing-based well maintenance and workover services, well completion and recompletion services, fluid management services, fishing and rental services, and other ancillary oilfield services. Additionally, certain of our rigs are capable of specialty drilling applications. We operate in most major oil and natural gas producing regions of the continental United States. An important component of the Company’s growth strategy is to make acquisitions that will strengthen its core services or presence in selected markets, and the Company also makes strategic divestitures from time to time. The Company expects that the industry in which it operates will experience consolidation, and the Company expects to explore opportunities and engage in discussions regarding these opportunities, which could include mergers, consolidations or acquisitions or further dispositions or other transactions, although there can be no assurance that any such activities will be consummated. The accompanying unaudited condensed consolidated financial statements were prepared using generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). The condensed December 31, 2016 balance sheet was prepared from audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2016 (the “ 2016 Form 10-K”). Certain information relating to our organization and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in this Quarterly Report on Form 10-Q. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our 2016 Form 10-K. The unaudited condensed consolidated financial statements contained in this report include all normal and recurring material adjustments that, in the opinion of management, are necessary for a fair presentation of our financial position, results of operations and cash flows for the interim periods presented herein. The results of operations for the nine months ended September 30, 2017 are not necessarily indicative of the results expected for the full year or any other interim period, due to fluctuations in demand for our services, timing of maintenance and other expenditures, and other factors. On October 24, 2016, Key and certain of our domestic subsidiaries filed voluntary petitions for reorganization under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware pursuant to a prepackaged plan of reorganization (“the Plan”). The Plan was confirmed by the Bankruptcy Court on December 6, 2016, and the Company emerged from the bankruptcy proceedings on December 15, 2016 (“the Effective Date”). Upon emergence on the Effective Date, the Company adopted fresh start accounting which resulted in the creation of a new entity for financial reporting purposes. As a result of the application of fresh start accounting, as well as the effects of the implementation of the Plan, the Consolidated Financial Statements on or after December 16, 2016 are not comparable with the Consolidated Financial Statements prior to that date. References to “Successor” or “Successor Company” relate to the financial position and results of operations of the reorganized Company subsequent to December 15, 2016. References to “Predecessor” or “Predecessor Company” refer to the financial position and results of operations of the Company on and prior to December 15, 2016. We have evaluated events occurring after the balance sheet date included in this Quarterly Report on Form 10-Q and through the date on which the unaudited condensed consolidated financial statements were issued, for possible disclosure of a subsequent event.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES	Sep. 30, 2017
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES	SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES The preparation of these unaudited condensed consolidated financial statements requires us to develop estimates and to make assumptions that affect our financial position, results of operations and cash flows. These estimates may also impact the nature and extent of our disclosure, if any, of our contingent liabilities. Among other things, we use estimates to (i) analyze assets for possible impairment, (ii) determine depreciable lives for our assets, (iii) assess future tax exposure and realization of deferred tax assets, (iv) determine amounts to accrue for contingencies, (v) value tangible and intangible assets, (vi) assess workers’ compensation, vehicular liability, self-insured risk accruals and other insurance reserves, (vii) provide allowances for our uncollectible accounts receivable, (viii) value our asset retirement obligations, and (ix) value our equity-based compensation. We review all significant estimates on a recurring basis and record the effect of any necessary adjustments prior to publication of our financial statements. Adjustments made with respect to the use of estimates relate to improved information not previously available. Because of the limitations inherent in this process, our actual results may differ materially from these estimates. We believe that the estimates used in the preparation of these interim financial statements are reasonable. There have been no material changes or developments in our evaluation of accounting estimates and underlying assumptions or methodologies that we believe to be a “Critical Accounting Policy or Estimate” as disclosed in our 2016 Form 10-K. Recent Accounting Developments ASU 2016-18. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230), Restricted Cash . This standard provides guidance on the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. Restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statements of cash flows. The amendments of this ASU should be applied using a retrospective transition method and are effective for reporting periods beginning after December 15, 2017, with early adoption permitted. Other than the revised statement of cash flows presentation of restricted cash, the adoption of this standard is not expected to have an impact on our consolidated financial statements. ASU 2016-15 . In August 2016 the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments (a consensus of the FASB Emerging Issues Task Force) (ASU 2016-15) , that clarifies how entities should classify certain cash receipts and cash payments on the statement of cash flows. The guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The guidance will be effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Early adoption is permitted. The Company is evaluating the effect of this standard on its consolidated financial statements. ASU 2016-13. In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments that will change how companies measure credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. The standard will replace today’s “incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. For available-for-sale debt securities, entities will be required to record allowances rather than reduce the carrying amount. The amendments in this update will be effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods. Early adoption is permitted for annual periods beginning after December 15, 2018. The Company is evaluating the effect of this standard on our consolidated financial statements. ASU 2016-09. In March 2016, the FASB Issued ASU 2016-09 Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. This standard changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The Company adopted the accounting guidance as of January 1, 2017 on a prospective basis. We have elected to account for forfeitures of equity awards as they occur. The adoption of this guidance did not have a material impact our consolidated financial statements, with the exception of excess tax benefits and tax deficiencies now being recognized as income tax expense or benefit on the income statement rather than as additional paid in capital on the balance sheet and their classification on the statement of cash flow as operating activity rather than financing activity, ASU 2016-02. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which will replace the existing lease guidance. The new standard is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use assets and corresponding lease liabilities on the balance sheet. Additional disclosure requirements include qualitative disclosures along with specific quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for the Company for annual reporting periods beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The new standard is required to be applied with a modified retrospective approach to each prior reporting period presented. We are currently evaluating the standard to determine the impact of its adoption on the consolidated financial statements. ASU 2014-09. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . The objective of this ASU is to establish the principles to report useful information to users of financial statements about the nature, amount, timing, and uncertainty of revenue from contracts with customers. The core principle is to 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. ASU 2014-09 must be adopted using either a full retrospective method or a modified retrospective method. We plan to adopt the standard January 1, 2018 applying the full retrospective method. We have assembled a team to scope the project, identify relevant revenue streams and understand the revenue recognition implications of the new guidance. We are currently evaluating the standard to determine the impact of its adoption on the consolidated financial statements, however, management’s preliminary assessment is that the impact to the financial statements will not be material.

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	9 Months Ended
ASSETS HELD FOR SALE	Sep. 30, 2017
ASSETS HELD FOR SALE [Abstract]
ASSETS HELD FOR SALE	ASSETS HELD FOR SALE In April 2015, we announced our decision to exit markets in which we participate outside of North America. Our strategy was to sell or relocate the assets of the businesses operating in these markets. During the fourth quarter of 2015, the assets and related liabilities of our Russian business unit, which were included in our International reporting segment, met the criteria for assets held for sale. The sale of our Russian business unit was completed in the third quarter of 2017.

EQUITY

EQUITY	9 Months Ended
EQUITY	Sep. 30, 2017
Equity [Abstract]
EQUITY	EQUITY A reconciliation of the total carrying amount of our equity accounts for the nine months ended September 30, 2017 is as follows (in thousands): COMMON STOCKHOLDERS Common Stock Additional Paid-in Capital Accumulated Other Comprehensive Income Retained Deficit Total Number of Shares Amount at Par Balance at December 31, 2016 (Successor) 20,096 $ 201 $ 252,421 $ 239 $ (10,244 ) $ 242,617 Foreign currency translation — — — (239 ) — (239 ) Common stock purchases — — (85 ) — — (85 ) Share-based compensation 13 — 11,581 — — 11,581 Net loss — — — — (98,262 ) (98,262 ) Balance at September 30, 2017 (Successor) 20,109 $ 201 $ 263,917 $ — $ (108,506 ) $ 155,612

OTHER BALANCE SHEET INFORMATION

OTHER BALANCE SHEET INFORMATION	9 Months Ended
OTHER BALANCE SHEET INFORMATION	Sep. 30, 2017
Supplemental Balance Sheet Disclosures [Abstract]
OTHER BALANCE SHEET INFORMATION	OTHER BALANCE SHEET INFORMATION The table below presents comparative detailed information about other current assets at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Other current assets: Prepaid current assets $ 5,069 $ 10,291 Reinsurance receivable 9,451 7,922 Current assets held for sale — 3,667 Other 2,898 3,882 Total $ 17,418 $ 25,762 The table below presents comparative detailed information about other non-current assets at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Other non-current assets: Reinsurance receivable $ 8,110 $ 8,393 Deposits 1,331 8,292 Equity method investments — 560 Non-current assets held for sale — 360 Other 5,166 135 Total $ 14,607 $ 17,740 The table below presents comparative detailed information about other current liabilities at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Other current liabilities: Accrued payroll, taxes and employee benefits $ 16,219 $ 23,224 Accrued operating expenditures 10,313 16,669 Income, sales, use and other taxes 11,105 10,748 Self-insurance reserve 26,994 35,484 Accrued interest 6,586 1,419 Accrued insurance premiums 127 2,347 Unsettled legal claims 10,686 5,398 Accrued severance 250 2,219 Current liabilities held for sale — 371 Other 103 6,059 Total $ 82,383 $ 103,938 The table below presents comparative detailed information about other non-current liabilities at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Other non-current liabilities: Asset retirement obligations $ 8,891 $ 9,035 Environmental liabilities 2,075 3,446 Accrued sales, use and other taxes 17,321 16,735 Deferred tax liabilities — 35 Other 201 528 Total $ 28,488 $ 29,779

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
INTANGIBLE ASSETS	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	INTANGIBLE ASSETS The components of our other intangible assets as of September 30, 2017 and December 31, 2016 are as follows (in thousands): September 30, 2017 December 31, 2016 Trademark: Gross carrying value 520 520 Accumulated amortization (43 ) — Net carrying value 477 520 The weighted average remaining amortization periods and expected amortization expense for the next five years for our definite lived intangible assets are as follows: Weighted average remaining amortization period (years) Expected amortization expense (in thousands) Remainder of 2017 2018 2019 2020 2021 2022 Trademarks 8.3 15 58 58 58 58 58 Amortization expense for our intangible assets was less than $0.1 million and $0.4 million for the three months ended September 30, 2017 and 2016 , respectively, and less than $0.1 million and $1.3 million for the nine months ended September 30, 2017 and 2016 , respectively.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
LONG-TERM DEBT	Sep. 30, 2017
Debt Disclosure [Abstract]
LONG-TERM DEBT	DEBT As of September 30, 2017 and December 31, 2016 , the components of our debt were as follows (in thousands): September 30, 2017 December 31, 2016 Term Loan Facility due 2021 $ 248,125 $ 250,000 Unamortized debt issuance costs (2,015 ) (2,023 ) Total 246,110 247,977 Less current portion (2,500 ) (2,500 ) Long-term debt $ 243,610 $ 245,477 ABL Facility On December 15, 2016, the Company and Key Energy Services, LLC, as borrowers (the “ABL Borrowers”), entered into the ABL Facility with the financial institutions party thereto from time to time as lenders (the “ABL Lenders”), Bank of America, N.A., as administrative agent for the lenders (the “Administrative Agent”) and Bank of America, N.A. and Wells Fargo Bank, National Association, as co-collateral agents for the lenders. The ABL Facility provides for aggregate initial commitments from the ABL Lenders of $80 million , which, on February 3, 2017 was increased to $100 million , and matures on June 15, 2021 . The ABL Facility provides the ABL Borrowers with the ability to borrow up to an aggregate principal amount equal to the lesser of (i) the aggregate revolving commitments then in effect and (ii) the sum of 85% of the value of eligible accounts receivable plus (b) 80% of the value of eligible unbilled accounts receivable, subject to a limit equal to the greater of (x) $35 million and (y) 25% of the commitments. The amount that may be borrowed under the ABL Facility is subject to increase or reduction based on certain segregated cash or reserves provided for by the ABL Facility. In addition, the percentages of accounts receivable and unbilled accounts receivable included in the calculation described above is subject to reduction to the extent of certain bad debt write-downs and other dilutive items provided in the ABL Facility. Borrowings under the ABL Facility will bear interest, at the ABL Borrowers’ option, at a per annum rate equal to (i) LIBOR for 30, 60, 90, 180, or, with the consent of the ABL Lenders, 360 days, plus an applicable margin that varies from 2.5% to 4.5% depending on the Borrowers’ fixed charge coverage ratio at such time or (ii) a base rate equal to the sum of (a) the greatest of (x) the prime rate, (y) the federal funds rate, plus 0.50% or (z) 30-day LIBOR, plus 1.0% plus (b) an applicable margin that varies from 1.50% to 3.50% depending on the Borrowers’ fixed charge coverage ratio at such time. In addition, the ABL Facility provides for unused line fees of 1.00% to 1.25% per year, depending on utilization, letter of credit fees and certain other factors. The ABL Facility may in the future be guaranteed by certain of the Company’s existing and future subsidiaries (the “ABL Guarantors,” and together with the ABL Borrowers, the “ABL Loan Parties”). To secure their obligations under the ABL Facility, each of the ABL Loan Parties has granted or will grant, as applicable, to the Administrative Agent a first-priority security interest for the benefit of the ABL Lenders in its present and future accounts receivable, inventory and related assets and proceeds of the foregoing (the “ABL Priority Collateral”). In addition, the obligations of the ABL Loan Parties under the ABL Facility are secured by second-priority liens on the Term Priority Collateral (as described below under “Term Loan Facility”). The revolving loans under the ABL Facility may be voluntarily prepaid, in whole or in part, without premium or penalty, subject to breakage or similar costs. The ABL Facility contains certain affirmative and negative covenants, including covenants that restrict the ability of the ABL Loan Parties to take certain actions including, among other things and subject to certain significant exceptions, the incurrence of debt, the granting of liens, the making of investments, entering into transactions with affiliates, the payment of dividends and the sale of assets. The ABL Facility also contains a requirement that the ABL Borrowers comply, during certain periods, with a fixed charge coverage ratio of 1.00 to 1.00. As of September 30, 2017 , we have no borrowings outstanding and $33.7 million of letters of credit outstanding with borrowing capacity of $26.5 million available subject to covenant constraints under our ABL Facility. Term Loan Facility On December 15, 2016, the Company entered into the Term Loan Facility among the Company, as borrower, certain subsidiaries of the Company named as guarantors therein, the financial institutions party thereto from time to time as Lenders (collectively, the “Term Loan Lenders”) and Cortland Capital Market Services LLC and Cortland Products Corp., as agent for the Lenders. The Term Loan Facility had an initial outstanding principal amount of $250 million . The Term Loan Facility will mature on December 15, 2021 , although such maturity date may, at the Company’s request, be extended by one or more of the Term Loan Lenders pursuant to the terms of the Term Loan Facility. Borrowings under the Term Loan Facility will bear interest, at the Company’s option, at a per annum rate equal to (i) LIBOR for one, two, three, six, or, with the consent of the Term Loan Lenders, 12 months, plus 10.25% or (ii) a base rate equal to the sum of (a) the greatest of (x) the prime rate, (y) the Federal Funds rate, plus 0.50% and (z) 30-day LIBOR, plus 1.0% plus (b) 9.25% . The Term Loan Facility is guaranteed by certain of the Company’s existing and future subsidiaries (the “Term Loan Guarantors,” and together with the Company, the “Term Loan Parties”). To secure their obligations under the Term Loan Facility, each of the Term Loan Parties has granted or will grant, as applicable, to the agent a first-priority security interest for the benefit of the Term Loan Lenders in substantially all of each Term Loan Party’s assets other than certain excluded assets and the ABL Priority Collateral (the “Term Priority Collateral”). In addition, the obligations of the Term Loan Parties under the Term Loan Facility are secured by second-priority liens on the ABL Priority Collateral (as described above under “ABL Facility”). The loans under the Term Loan Facility may be prepaid at the Company’s option, subject to the payment of a prepayment premium in certain circumstances as provided in the Term Loan Facility. If a prepayment is made prior to the first anniversary of the loan, such prepayment must be made with make-whole amount with the calculation of the make-whole amount as specified in the Term Loan Facility. If a prepayment is made after the first anniversary of the loan but prior to the second anniversary, such prepayment must be made at 106% of the principle amount, if a prepayment is made after the second anniversary but prior to the third anniversary, such prepayment must be made at 103% of the principle amount. After the third anniversary, if a prepayment is made, no prepayment premium is due. The Company is required to make principal payments in the amount of $625,000 per quarter commencing with the quarter ending March 31, 2017. In addition, pursuant to the Term Loan Facility, the Company must prepay or offer to prepay, as applicable, term loans with the net cash proceeds of certain debt incurrences and asset sales, excess cash flow, and upon certain change of control transactions, subject in each case to certain exceptions. The Term Loan Facility contains certain affirmative and negative covenants, including covenants that restrict the ability of the Term Loan Parties to take certain actions including, among other things and subject to certain significant exceptions, the incurrence of debt, the granting of liens, the making of investments, entering into transactions with affiliates, the payment of dividends and the sale of assets. The Term Loan Facility also contains financial covenants requiring that the Company maintain an asset coverage ratio of at least 1.35 to 1.0 and that Liquidity (as defined in the Term Loan Facility) must not be less than $37.5 million (of which at least $20.0 million must be in cash or cash equivalents held in deposit accounts) as of the last day of any fiscal quarter, subject to certain exceptions and cure rights. The weighted average interest rates on the outstanding borrowings under the Term Loan Facility for the three and nine month periods ended September 30, 2017 were as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 Term Loan Facility 11.53 % 11.40 %

OTHER INCOME, NET

OTHER INCOME, NET	9 Months Ended
OTHER INCOME, NET	Sep. 30, 2017
Other Income and Expenses [Abstract]
OTHER INOME, NET	OTHER (INCOME) LOSS The table below presents comparative detailed information about our other income and expense, shown on the condensed consolidated statements of operations as “ other (income) loss, net ” for the periods indicated (in thousands): Successor Predecessor Successor Predecessor Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2016 Interest income $ (182 ) $ (104 ) $ (534 ) $ (371 ) Foreign exchange (gain) loss (15 ) 351 (29 ) 1,112 Other, net (4,381 ) (93 ) (5,216 ) (1,406 ) Total $ (4,578 ) $ 154 $ (5,779 ) $ (665 )

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We are subject to U.S. federal income tax as well as income taxes in multiple state and foreign jurisdictions. Our effective tax rates for the three months ended September 30, 2017 and 2016 were 0.3% and 0.1% , respectively, and 1.2% and 0.2% for the nine months ended September 30, 2017 and 2016 , respectively. The variance between our effective rate and the U.S. statutory rate is due to the mix of pre-tax profit between the U.S. and international taxing jurisdictions with varying statutory rates, the impact of permanent differences, and other tax adjustments, such as valuation allowances against deferred tax assets, and tax expense or benefit recognized for uncertain tax positions. We continued recording income taxes using a year-to-date effective tax rate method for the three- and nine-month periods ended September 30, 2017 . The use of this method was based on our expectations at September 30, 2017 that a small change in our estimated ordinary income could result in a large change in the estimated annual effective tax rate. We will re-evaluate our use of this method each quarter until such time as a return to the annualized effective tax rate method is deemed appropriate. The Company assesses the realizability of its deferred tax assets each period by considering whether it is more likely than not that all or a portion of the deferred tax assets will not be realized. Due to the history of losses in recent years and the continued challenges affecting the oil and gas industry, management continues to believe it is more likely than not that we will not be able to realize our net deferred tax assets. No release of our deferred tax asset valuation allowance was made during the three or nine months ended September 30, 2017 . As of September 30, 2017 , we had $0.3 million of unrecognized tax benefits, net of federal tax benefit, which, if recognized, would impact our effective tax rate. We record interest and penalties related to unrecognized tax benefits as income tax expense. We have accrued a liability of less than $0.1 million for the payment of interest and penalties as of September 30, 2017 . We believe that it is reasonably possible that $0.2 million of our currently remaining unrecognized tax positions may be recognized in the next twelve months as a result of a lapse of statute of limitations and settlement of ongoing audits.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation Various suits and claims arising in the ordinary course of business are pending against us. We conduct business throughout the continental United States and may be subject to jury verdicts or arbitrations that result in outcomes in favor of the plaintiffs. We are also exposed to various claims abroad. We continually assess our contingent liabilities, including potential litigation liabilities, as well as the adequacy of our accruals and our need for the disclosure of these items, if any. We establish a provision for a contingent liability when it is probable that a liability has been incurred and the amount is reasonably estimable. We have $10.7 million of other liabilities related to litigation that is deemed probable and reasonably estimable as of September 30, 2017 . We do not believe that the disposition of any of these matters will result in an additional loss materially in excess of amounts that have been recorded. In November 2015, the Santa Barbara County District Attorney filed a criminal complaint against two former employees and Key, specifically alleging three counts of violations of California Labor Code section 6425(a) against Key. The complaint sought unspecified penalties against Key related to an October 12, 2013 accident which resulted in the death of one Key employee at a drilling site near Santa Maria, California. An arraignment was held on February 10, 2016, where Key and its former employees pleaded not guilty to all charges. On or about January 10, 2017, Key entered into a settlement with the Santa Barbara County District Attorney. Key agreed to plead no contest to one felony count (Count 2), a violation of California Labor Code 6425(a). The Santa Barbara County District Attorney also agreed to recommend total restitution, fines, fees, and surcharges not to exceed $450,000 . The court dismissed the remaining charges (Counts 1 and 3) against Key. The parties agreed to postpone sentencing in the matter until January 20, 2018. The parties agreed that if Key pays all of the total restitution, fines, fees, and surcharges by January 20, 2018, the Santa Barbara County District Attorney will not object to Key withdrawing its plea to a felony count on Count 2 and entering a plea to a misdemeanor. Self-Insurance Reserves We maintain reserves for workers’ compensation and vehicle liability on our balance sheet based on our judgment and estimates using an actuarial method based on claims incurred. We estimate general liability claims on a case-by-case basis. We maintain insurance policies for workers’ compensation, vehicle liability and general liability claims. These insurance policies carry self-insured retention limits or deductibles on a per occurrence basis. The retention limits or deductibles are accounted for in our accrual process for all workers’ compensation, vehicular liability and general liability claims. As of September 30, 2017 and December 31, 2016 , we have recorded $53.5 million and $58.7 million , respectively, of self-insurance reserves related to workers’ compensation, vehicular liabilities and general liability claims. Partially offsetting these liabilities, we had $17.6 million and $ 16.3 million of insurance receivables as of September 30, 2017 and December 31, 2016 , respectively. We believe that the liabilities we have recorded are appropriate based on the known facts and circumstances and do not expect further losses materially in excess of the amounts already accrued for existing claims. Environmental Remediation Liabilities For environmental reserve matters, including remediation efforts for current locations and those relating to previously disposed properties, we record liabilities when our remediation efforts are probable and the costs to conduct such remediation efforts can be reasonably estimated. As of September 30, 2017 and December 31, 2016 , we have recorded $2.1 million and $3.4 million , respectively, for our environmental remediation liabilities. We believe that the liabilities we have recorded are appropriate based on the known facts and circumstances and do not expect further losses materially in excess of the amounts already accrued.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	9 Months Ended
EARNINGS (LOSS) PER SHARE	Sep. 30, 2017
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	LOSS PER SHARE Basic loss per share is determined by dividing net loss attributable to Key by the weighted average number of common shares actually outstanding during the period. Diluted loss per common share is based on the increased number of shares that would be outstanding assuming conversion of potentially dilutive outstanding securities using the treasury stock and “as if converted” methods. The components of our loss per share are as follows (in thousands, except per share amounts): Successor Predecessor Successor Predecessor Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2016 Basic and Diluted EPS Calculation: Numerator Net loss $ (38,220 ) $ (130,752 ) $ (98,262 ) $ (305,168 ) Denominator Weighted average shares outstanding 20,106 160,846 20,101 160,626 Basic and diluted loss per share $ (1.90 ) $ (0.81 ) $ (4.89 ) $ (1.90 ) Restricted stock units (“RSUs”), stock options, stock appreciation rights (“SARs”) and warrants are included in the computation of diluted earnings per share using the treasury stock method. Restricted stock awards are legally considered issued and outstanding when granted and are included in basic weighted average shares outstanding. The company has issued potentially dilutive instruments such as RSUs, stock options, SARs and warrants . However, the company did not include these instruments in its calculation of diluted loss per share during the periods presented, because to include them would be anti-dilutive. The following table shows potentially dilutive instruments (in thousands): Successor Predecessor Successor Predecessor Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2016 RSUs 641 60 641 60 Stock options 645 301 645 812 SARs — 240 — 240 Warrants 1,838 — 1,838 — Total 3,124 601 3,124 1,112 No events occurred after September 30, 2017 that would materially affect the number of weighted average shares outstanding.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
SHARE-BASED COMPENSATION	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION We recognized employee share-based compensation expense of $2.5 million and $0.5 million during the three months ended September 30, 2017 and 2016 , respectively. We recognized employee share-based compensation expense of $10.9 million and $3.4 million during the nine months ended September 30, 2017 and 2016 , respectively. Our employee share-based awards vest in equal installments over a four-year period. Additionally, we recognized share-based compensation expense related to our outside directors of $0.1 million and zero during the three months ended September 30, 2017 and 2016 , respectively. We recognized share-based compensation expense related to our outside directors of $0.6 million and zero during the nine months ended September 30, 2017 and 2016 , respectively. The unrecognized compensation cost related to our unvested share-based awards as of September 30, 2017 is estimated to be $12.3 million and is expected to be recognized over a weighted-average period of 1.7 years. We recognized compensation expense related to our stock options of $0.8 million and zero during the three months ended September 30, 2017 and 2016 , respectively. We recognized compensation expense related to our stock options of $2.7 million and zero during the nine months ended September 30, 2017 and 2016 , respectively. Our employee stock options vest in equal installments over a four-year period. The unrecognized compensation cost related to our unvested stock options as of September 30, 2017 is estimated to be $4.2 million and is expected to be recognized over a weighted-average period of 1.7 years.

TRANSACTIONS WITH RELATED PARTI

TRANSACTIONS WITH RELATED PARTIES	9 Months Ended
TRANSACTIONS WITH RELATED PARTIES	Sep. 30, 2017
Related Party Transactions [Abstract]
TRANSACTIONS WITH RELATED PARTIES	TRANSACTIONS WITH RELATED PARTIES The Company has purchased equipment and services from a few affiliates of certain directors. The dollar amounts related to these related party activities are not material to the Company’s condensed consolidated financial statements.

ESTIMATED FAIR VALUE OF FINANCI

ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS	Sep. 30, 2017
Fair Value Disclosures [Abstract]
ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS	ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS Cash, cash equivalents, accounts receivable, accounts payable and accrued liabilities. These carrying amounts approximate fair value because of the short maturity of the instruments or because the carrying value is equal to the fair value of those instruments on the balance sheet date. Term Loan Facility due 2021 . Because the variable interest rates of these loans approximate current market rates, the fair values of the loans borrowed under this facility approximate their carrying values.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
SEGMENT INFORMATION	Sep. 30, 2017
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our reportable business segments are U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services and International. We also have a “Functional Support” segment associated with overhead and other costs in support of our reportable segments. Our U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services operate geographically within the United States. The International reportable segment includes our former operations in Canada, Mexico and Russia. During the third quarter of 2017, second quarter of 2017 and the fourth quarter of 2016, we completed the sale of our businesses in Russia, Canada and Mexico, respectively. We evaluate the performance of our segments based on gross margin measures. All inter-segment sales pricing is based on current market conditions. U.S. Rig Services Our U.S. Rig Services include the completion of newly drilled wells, workover and recompletion of existing oil and natural gas wells, well maintenance, and the plugging and abandonment of wells at the end of their useful lives. We also provide specialty drilling services to oil and natural gas producers with certain of our larger rigs that are capable of providing conventional and horizontal drilling services. Our rigs encompass various sizes and capabilities, allowing us to service all types of wells. Many of our rigs are outfitted with our proprietary KeyView® technology, which captures and reports well site operating data and provides safety control systems. We believe that this technology allows our customers and our crews to better monitor well site operations, improves efficiency and safety, and adds value to the services that we offer. The completion and recompletion services provided by our rigs prepare wells for production, whether newly drilled, or recently extended through a workover operation. The completion process may involve selectively perforating the well casing to access production zones, stimulating and testing these zones, and installing tubular and downhole equipment. We typically provide a well service rig and may also provide other equipment to assist in the completion process. Completion services vary by well and our work may take a few days to several weeks to perform, depending on the nature of the completion. The workover services that we provide are designed to enhance the production of existing wells and generally are more complex and time consuming than normal maintenance services. Workover services can include deepening or extending wellbores into new formations by drilling horizontal or lateral wellbores, sealing off depleted production zones and accessing previously bypassed production zones, converting former production wells into injection wells for enhanced recovery operations and conducting major subsurface repairs due to equipment failures. Workover services may last from a few days to several weeks, depending on the complexity of the workover. Maintenance services provided with our rig fleet are generally required throughout the life cycle of an oil or natural gas well. Examples of these maintenance services include routine mechanical repairs to the pumps, tubing and other equipment, removing debris and formation material from wellbores, and pulling rods and other downhole equipment from wellbores to identify and resolve production problems. Maintenance services are generally less complicated than completion and workover related services and require less time to perform. Our rig fleet is also used in the process of permanently shutting-in oil or natural gas wells that are at the end of their productive lives. These plugging and abandonment services generally require auxiliary equipment in addition to a well servicing rig. The demand for plugging and abandonment services is not significantly impacted by the demand for oil and natural gas because well operators are required by state regulations to plug wells that are no longer productive. Fluid Management Services We provide transportation and well-site storage services for various fluids utilized in connection with drilling, completions, workover and maintenance activities. We also provide disposal services for fluids produced subsequent to well completion. These fluids are removed from the well site and transported for disposal in saltwater disposal wells owned by us or a third party. In addition, we operate a fleet of hot oilers capable of pumping heated fluids used to clear soluble restrictions in a wellbore. Demand and pricing for these services generally correspond to demand for our well service rigs. Coiled Tubing Services Coiled Tubing Services involve the use of a continuous metal pipe spooled onto a large reel which is then deployed into oil and natural gas wells to perform various applications, such as wellbore clean-outs, nitrogen jet lifts, through-tubing fishing, and formation stimulations utilizing acid and chemical treatments. Coiled tubing is also used for a number of horizontal well applications such as milling temporary isolation plugs that separate frac zones, and various other pre- and post-hydraulic fracturing well preparation services. Fishing and Rental Services We offer a full line of fishing services and rental equipment designed for use in providing drilling and workover services. Fishing services involve recovering lost or stuck equipment in the wellbore utilizing a broad array of “fishing tools.” Our rental tool inventory consists of drill pipe, tubulars, handling tools (including our patented Hydra-Walk ® pipe-handling units and services), pressure-control equipment, pumps, power swivels, reversing units, foam air units, proppants, oil and natural gas. We sold our well testing assets and our frac stack equipment used to support hydraulic fracturing operations and the associated flowback of frac fluids in the second quarter of 2017. Demand for our fishing and rental services is closely related to capital spending by oil and natural gas producers, which is generally a function of oil and natural gas prices. International In April 2015, we announced our decision to exit markets in which we participate outside of North America. During the third quarter of 2017, second quarter of 2017 and the fourth quarter of 2016, we completed the sale of our businesses in Russia, Canada and Mexico, respectively. We provided rig-based services such as the maintenance, workover, recompletion of existing oil wells, completion of newly-drilled wells and plugging and abandonment of wells at the end of their useful lives in each of our international markets. In addition, in Mexico we provided drilling, coiled tubing, wireline and project management and consulting services. Our Canadian business was focused on the development of hardware and software related to oilfield service equipment controls, data acquisition and digital information flow. Functional Support Our Functional Support segment includes unallocated overhead costs associated with administrative support for our U.S. and International reporting segments. Financial Summary The following tables set forth our unaudited segment information as of and for the three and nine months ended September 30, 2017 and 2016 (in thousands): Successor company as of and for the three months ended September 30, 2017 U.S. Rig Services Fluid Management Services Coiled Tubing Services Fishing and Rental Services International Functional Support(2) Reconciling Eliminations Total Revenues from external customers $ 61,933 $ 20,713 $ 12,499 $ 14,177 $ 1,331 $ — $ — $ 110,653 Intersegment revenues 135 249 27 846 — — (1,257 ) — Depreciation and amortization 8,009 5,350 1,259 5,855 234 407 — 21,114 Other operating expenses 54,426 22,625 9,386 10,688 2,225 24,933 — 124,283 Operating income (loss) (502 ) (7,262 ) 1,854 (2,366 ) (1,128 ) (25,340 ) — (34,744 ) Reorganization items, net — — — — — 60 — 60 Interest expense, net of amounts capitalized — — — — — 8,090 — 8,090 Income (loss) before income taxes (495 ) (7,249 ) 1,854 (2,355 ) 3,212 (33,283 ) — (38,316 ) Long-lived assets(1) 166,993 78,718 19,856 68,200 7 56,462 (32,445 ) 357,791 Total assets 287,305 41 38,450 363,879 10,117 (77,212 ) (71,475 ) 551,105 Capital expenditures 1,288 735 37 124 119 71 — 2,374 Predecessor company as of and for the three months ended September 30, 2016 U.S. Rig Services Fluid Management Services Coiled Tubing Services Fishing and Rental Services International Functional Support(2) Reconciling Eliminations Total Revenues from external customers $ 59,137 $ 18,969 $ 7,146 $ 14,078 $ 3,076 $ — $ — $ 102,406 Intersegment revenues 293 203 — 1,194 34 — (1,724 ) — Depreciation and amortization 14,602 5,867 2,683 6,623 1,719 1,973 — 33,467 Impairment expense — — — — 40,000 — — 40,000 Other operating expenses 53,539 26,327 8,835 14,406 5,746 29,674 — 138,527 Operating loss (9,004 ) (13,225 ) (4,372 ) (6,951 ) (44,389 ) (31,647 ) — (109,588 ) Interest expense, net of amounts capitalized — — — — — 21,120 — 21,120 Loss before income taxes (8,986 ) (13,216 ) (4,372 ) (6,938 ) (44,711 ) (52,639 ) — (130,862 ) Long-lived assets(1) 450,384 111,697 45,705 106,055 10,334 160,835 (115,326 ) 769,684 Total assets 1,304,552 241,422 114,259 467,392 33,145 (840,066 ) (325,083 ) 995,621 Capital expenditures 521 865 — 954 — 13 — 2,353 Successor company as of and for the nine months ended September 30, 2017 U.S. Rig Services Fluid Management Services Coiled Tubing Services Fishing and Rental Services International Functional Support(2) Reconciling Eliminations Total Revenues from external customers $ 184,026 $ 57,475 $ 27,005 $ 45,808 $ 5,571 $ — $ — $ 319,885 Intersegment revenues 235 887 49 2,472 — — (3,643 ) — Depreciation and amortization 23,228 16,627 3,956 17,655 791 1,068 — 63,325 Impairment expense — — — — 187 — — 187 Other operating expenses 163,564 58,274 23,155 16,902 9,373 65,211 — 336,479 Operating income (loss) (2,766 ) (17,426 ) (106 ) 11,251 (4,780 ) (66,279 ) — (80,106 ) Reorganization items, net — — — — — 1,501 — 1,501 Interest expense, net of amounts capitalized — — — — — 23,672 — 23,672 Income (loss) before income taxes (2,605 ) (17,485 ) (94 ) 11,485 (74 ) (90,727 ) — (99,500 ) Long-lived assets(1) 166,993 78,718 19,856 68,200 7 56,462 (32,445 ) 357,791 Total assets 287,305 41 38,450 363,879 10,117 (77,212 ) (71,475 ) 551,105 Capital expenditures 5,956 1,828 216 654 475 481 — 9,610 Predecessor company as of and for the nine months ended September 30, 2016 U.S. Rig Services Fluid Management Services Coiled Tubing Services Fishing and Rental Services International Functional Support(2) Reconciling Eliminations Total Revenues from external customers $ 169,627 $ 61,230 $ 24,294 $ 43,773 $ 9,582 $ — $ — $ 308,506 Intersegment revenues 737 733 43 3,448 284 — (5,245 ) — Depreciation and amortization 44,278 17,725 8,574 21,385 6,067 7,046 — 105,075 Impairment expense — — — — 40,000 — — 40,000 Other operating expenses 154,393 70,557 32,298 42,127 17,865 88,452 — 405,692 Operating loss (29,044 ) (27,052 ) (16,578 ) (19,739 ) (54,350 ) (95,498 ) — (242,261 ) Interest expense, net of amounts capitalized — — — — — 64,061 — 64,061 Loss before income taxes (29,011 ) (27,003 ) (16,455 ) (19,719 ) (54,986 ) (158,483 ) — (305,657 ) Long-lived assets(1) 450,384 111,697 45,705 106,055 10,334 160,835 (115,326 ) 769,684 Total assets 1,304,552 241,422 114,259 467,392 33,145 (840,066 ) (325,083 ) 995,621 Capital expenditures 1,025 2,885 101 2,470 711 228 — 7,420 (1) Long-lived assets include fixed assets, intangibles and other non-current assets. (2) Functional Support is geographically located in the United States.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	9 Months Ended
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	Sep. 30, 2017
Condensed Consolidating Financial Statements [Abstract]
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	CONDENSED CONSOLIDATING FINANCIAL STATEMENTS The senior notes of the Predecessor Company were registered securities. As a result of these registered securities, we are required to present the following condensed consolidating financial information pursuant to SEC Regulation S-X Rule 3-10, “ Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.” Our ABL Facility and Term Loan Facility of the Successor Company are not registered securities, so the presentation of condensed consolidating financial information is not required for the Successor period. The following is our condensed consolidated statement of operations and statement of cash flows for the Predecessor periods (in thousands): CONDENSED CONSOLIDATING UNAUDITED STATEMENTS OF OPERATIONS Predecessor Three Months Ended September 30, 2016 Parent Company Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 99,332 $ 3,110 $ (36 ) $ 102,406 Direct operating expense — 92,643 3,456 (28 ) 96,071 Depreciation and amortization expense — 32,347 1,120 — 33,467 General and administrative expense 417 39,738 2,301 — 42,456 Impairment expense — 19,597 20,403 — 40,000 Operating loss (417 ) (84,993 ) (24,170 ) (8 ) (109,588 ) Interest expense, net of amounts capitalized 21,120 — — — 21,120 Other (income) loss, net (636 ) 375 325 90 154 Loss before income taxes (20,901 ) (85,368 ) (24,495 ) (98 ) (130,862 ) Income tax benefit — — 110 — 110 Net loss $ (20,901 ) $ (85,368 ) $ (24,385 ) $ (98 ) $ (130,752 ) CONDENSED CONSOLIDATING UNAUDITED STATEMENTS OF OPERATIONS Predecessor Nine Months Ended September 30, 2016 Parent Company Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 298,926 $ 9,866 $ (286 ) $ 308,506 Direct operating expense — 265,869 10,481 (262 ) 276,088 Depreciation and amortization expense — 101,557 3,518 — 105,075 General and administrative expense 815 121,427 7,362 — 129,604 Impairment expense — 19,597 20,403 — 40,000 Operating loss (815 ) (209,524 ) (31,898 ) (24 ) (242,261 ) Interest expense, net of amounts capitalized 64,061 — — — 64,061 Other (income) loss, net (1,926 ) 281 657 323 (665 ) Loss before income taxes (62,950 ) (209,805 ) (32,555 ) (347 ) (305,657 ) Income tax (expense) benefit (12 ) — 501 — 489 Net loss $ (62,962 ) $ (209,805 ) $ (32,054 ) $ (347 ) $ (305,168 ) CONDENSED CONSOLIDATING UNAUDITED STATEMENTS OF CASH FLOWS Predecessor Nine Months Ended September 30, 2016 Parent Company Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ (108,229 ) $ 3,420 $ — $ (104,809 ) Cash flows from investing activities: Capital expenditures — (7,073 ) (347 ) — (7,420 ) Intercompany notes and accounts — 92,033 — (92,033 ) — Other investing activities, net — 13,376 — — 13,376 Net cash provided by (used in) investing activities — 98,336 (347 ) (92,033 ) 5,956 Cash flows from financing activities: Repayments of long-term debt (24,548 ) — — — (24,548 ) Restricted stock (18,605 ) — — — (18,605 ) Repurchases of common stock (165 ) — — — (165 ) Intercompany notes and accounts (92,033 ) — — 92,033 — Other financing activities, net (3,164 ) — — — (3,164 ) Net cash used in financing activities (138,515 ) — — 92,033 (46,482 ) Effect of changes in exchange rates on cash — — (1,908 ) — (1,908 ) Net increase (decrease) in cash and cash equivalents (138,515 ) (9,893 ) 1,165 — (147,243 ) Cash and cash equivalents at beginning of period 191,065 10,024 3,265 — 204,354 Cash and cash equivalents at end of period $ 52,550 $ 131 $ 4,430 $ — $ 57,111

SIGNIFICANT ACCOUNTING POLICI23

SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES (Policies)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES AND ESTIMATES (Policies)	Sep. 30, 2017
Accounting Policies [Abstract]
Accounting Standards Not Yet Adopted in this Report	Recent Accounting Developments ASU 2016-18. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230), Restricted Cash . This standard provides guidance on the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. Restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statements of cash flows. The amendments of this ASU should be applied using a retrospective transition method and are effective for reporting periods beginning after December 15, 2017, with early adoption permitted. Other than the revised statement of cash flows presentation of restricted cash, the adoption of this standard is not expected to have an impact on our consolidated financial statements. ASU 2016-15 . In August 2016 the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments (a consensus of the FASB Emerging Issues Task Force) (ASU 2016-15) , that clarifies how entities should classify certain cash receipts and cash payments on the statement of cash flows. The guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The guidance will be effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Early adoption is permitted. The Company is evaluating the effect of this standard on its consolidated financial statements. ASU 2016-13. In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments that will change how companies measure credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. The standard will replace today’s “incurred loss” approach with an “expected loss” model for instruments measured at amortized cost. For available-for-sale debt securities, entities will be required to record allowances rather than reduce the carrying amount. The amendments in this update will be effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods. Early adoption is permitted for annual periods beginning after December 15, 2018. The Company is evaluating the effect of this standard on our consolidated financial statements. ASU 2016-09. In March 2016, the FASB Issued ASU 2016-09 Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. This standard changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The Company adopted the accounting guidance as of January 1, 2017 on a prospective basis. We have elected to account for forfeitures of equity awards as they occur. The adoption of this guidance did not have a material impact our consolidated financial statements, with the exception of excess tax benefits and tax deficiencies now being recognized as income tax expense or benefit on the income statement rather than as additional paid in capital on the balance sheet and their classification on the statement of cash flow as operating activity rather than financing activity, ASU 2016-02. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which will replace the existing lease guidance. The new standard is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use assets and corresponding lease liabilities on the balance sheet. Additional disclosure requirements include qualitative disclosures along with specific quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. ASU 2016-02 is effective for the Company for annual reporting periods beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The new standard is required to be applied with a modified retrospective approach to each prior reporting period presented. We are currently evaluating the standard to determine the impact of its adoption on the consolidated financial statements. ASU 2014-09. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . The objective of this ASU is to establish the principles to report useful information to users of financial statements about the nature, amount, timing, and uncertainty of revenue from contracts with customers. The core principle is to 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. ASU 2014-09 must be adopted using either a full retrospective method or a modified retrospective method. We plan to adopt the standard January 1, 2018 applying the full retrospective method. We have assembled a team to scope the project, identify relevant revenue streams and understand the revenue recognition implications of the new guidance. We are currently evaluating the standard to determine the impact of its adoption on the consolidated financial statements, however, management’s preliminary assessment is that the impact to the financial statements will not be material.

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
EQUITY (Tables)	Sep. 30, 2017
Equity [Abstract]
Schedule of Stockholders Equity	A reconciliation of the total carrying amount of our equity accounts for the nine months ended September 30, 2017 is as follows (in thousands): COMMON STOCKHOLDERS Common Stock Additional Paid-in Capital Accumulated Other Comprehensive Income Retained Deficit Total Number of Shares Amount at Par Balance at December 31, 2016 (Successor) 20,096 $ 201 $ 252,421 $ 239 $ (10,244 ) $ 242,617 Foreign currency translation — — — (239 ) — (239 ) Common stock purchases — — (85 ) — — (85 ) Share-based compensation 13 — 11,581 — — 11,581 Net loss — — — — (98,262 ) (98,262 ) Balance at September 30, 2017 (Successor) 20,109 $ 201 $ 263,917 $ — $ (108,506 ) $ 155,612

OTHER BALANCE SHEET INFORMATI25

OTHER BALANCE SHEET INFORMATION (Tables)	9 Months Ended
OTHER BALANCE SHEET INFORMATION (Tables)	Sep. 30, 2017
Supplemental Balance Sheet Disclosures [Abstract]
Other Current Assets	The table below presents comparative detailed information about other current assets at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Other current assets: Prepaid current assets $ 5,069 $ 10,291 Reinsurance receivable 9,451 7,922 Current assets held for sale — 3,667 Other 2,898 3,882 Total $ 17,418 $ 25,762
Other Noncurrent Assets	The table below presents comparative detailed information about other non-current assets at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Other non-current assets: Reinsurance receivable $ 8,110 $ 8,393 Deposits 1,331 8,292 Equity method investments — 560 Non-current assets held for sale — 360 Other 5,166 135 Total $ 14,607 $ 17,740
Other Current Liabilities	The table below presents comparative detailed information about other current liabilities at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Other current liabilities: Accrued payroll, taxes and employee benefits $ 16,219 $ 23,224 Accrued operating expenditures 10,313 16,669 Income, sales, use and other taxes 11,105 10,748 Self-insurance reserve 26,994 35,484 Accrued interest 6,586 1,419 Accrued insurance premiums 127 2,347 Unsettled legal claims 10,686 5,398 Accrued severance 250 2,219 Current liabilities held for sale — 371 Other 103 6,059 Total $ 82,383 $ 103,938
Other Noncurrent Liabilities	The table below presents comparative detailed information about other non-current liabilities at September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Other non-current liabilities: Asset retirement obligations $ 8,891 $ 9,035 Environmental liabilities 2,075 3,446 Accrued sales, use and other taxes 17,321 16,735 Deferred tax liabilities — 35 Other 201 528 Total $ 28,488 $ 29,779

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended
INTANGIBLE ASSETS (Tables)	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Other Intangible Assets	The components of our other intangible assets as of September 30, 2017 and December 31, 2016 are as follows (in thousands): September 30, 2017 December 31, 2016 Trademark: Gross carrying value 520 520 Accumulated amortization (43 ) — Net carrying value 477 520
Weighted Average Remaining Amortization Periods and Expected Amortization Expense for the Next Five Years for Intangible	The weighted average remaining amortization periods and expected amortization expense for the next five years for our definite lived intangible assets are as follows: Weighted average remaining amortization period (years) Expected amortization expense (in thousands) Remainder of 2017 2018 2019 2020 2021 2022 Trademarks 8.3 15 58 58 58 58 58

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
LONG-TERM DEBT (Tables)	Sep. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	As of September 30, 2017 and December 31, 2016 , the components of our debt were as follows (in thousands): September 30, 2017 December 31, 2016 Term Loan Facility due 2021 $ 248,125 $ 250,000 Unamortized debt issuance costs (2,015 ) (2,023 ) Total 246,110 247,977 Less current portion (2,500 ) (2,500 ) Long-term debt $ 243,610 $ 245,477
Weighted Average Interest Rates	The weighted average interest rates on the outstanding borrowings under the Term Loan Facility for the three and nine month periods ended September 30, 2017 were as follows: Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 Term Loan Facility 11.53 % 11.40 %

OTHER INCOME, NET (Tables)

OTHER INCOME, NET (Tables)	9 Months Ended
OTHER INCOME, NET (Tables)	Sep. 30, 2017
Other Income and Expenses [Abstract]
Other Income and Expense	The table below presents comparative detailed information about our other income and expense, shown on the condensed consolidated statements of operations as “ other (income) loss, net ” for the periods indicated (in thousands): Successor Predecessor Successor Predecessor Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2016 Interest income $ (182 ) $ (104 ) $ (534 ) $ (371 ) Foreign exchange (gain) loss (15 ) 351 (29 ) 1,112 Other, net (4,381 ) (93 ) (5,216 ) (1,406 ) Total $ (4,578 ) $ 154 $ (5,779 ) $ (665 )

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	9 Months Ended
EARNINGS (LOSS) PER SHARE (Tables)	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The components of our loss per share are as follows (in thousands, except per share amounts): Successor Predecessor Successor Predecessor Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2016 Basic and Diluted EPS Calculation: Numerator Net loss $ (38,220 ) $ (130,752 ) $ (98,262 ) $ (305,168 ) Denominator Weighted average shares outstanding 20,106 160,846 20,101 160,626 Basic and diluted loss per share $ (1.90 ) $ (0.81 ) $ (4.89 ) $ (1.90 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Successor Predecessor Successor Predecessor Three Months Ended September 30, 2017 Three Months Ended September 30, 2016 Nine Months Ended September 30, 2017 Nine Months Ended September 30, 2016 RSUs 641 60 641 60 Stock options 645 301 645 812 SARs — 240 — 240 Warrants 1,838 — 1,838 — Total 3,124 601 3,124 1,112

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
SEGMENT INFORMATION (Tables)	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Information	The following tables set forth our unaudited segment information as of and for the three and nine months ended September 30, 2017 and 2016 (in thousands): Successor company as of and for the three months ended September 30, 2017 U.S. Rig Services Fluid Management Services Coiled Tubing Services Fishing and Rental Services International Functional Support(2) Reconciling Eliminations Total Revenues from external customers $ 61,933 $ 20,713 $ 12,499 $ 14,177 $ 1,331 $ — $ — $ 110,653 Intersegment revenues 135 249 27 846 — — (1,257 ) — Depreciation and amortization 8,009 5,350 1,259 5,855 234 407 — 21,114 Other operating expenses 54,426 22,625 9,386 10,688 2,225 24,933 — 124,283 Operating income (loss) (502 ) (7,262 ) 1,854 (2,366 ) (1,128 ) (25,340 ) — (34,744 ) Reorganization items, net — — — — — 60 — 60 Interest expense, net of amounts capitalized — — — — — 8,090 — 8,090 Income (loss) before income taxes (495 ) (7,249 ) 1,854 (2,355 ) 3,212 (33,283 ) — (38,316 ) Long-lived assets(1) 166,993 78,718 19,856 68,200 7 56,462 (32,445 ) 357,791 Total assets 287,305 41 38,450 363,879 10,117 (77,212 ) (71,475 ) 551,105 Capital expenditures 1,288 735 37 124 119 71 — 2,374 Predecessor company as of and for the three months ended September 30, 2016 U.S. Rig Services Fluid Management Services Coiled Tubing Services Fishing and Rental Services International Functional Support(2) Reconciling Eliminations Total Revenues from external customers $ 59,137 $ 18,969 $ 7,146 $ 14,078 $ 3,076 $ — $ — $ 102,406 Intersegment revenues 293 203 — 1,194 34 — (1,724 ) — Depreciation and amortization 14,602 5,867 2,683 6,623 1,719 1,973 — 33,467 Impairment expense — — — — 40,000 — — 40,000 Other operating expenses 53,539 26,327 8,835 14,406 5,746 29,674 — 138,527 Operating loss (9,004 ) (13,225 ) (4,372 ) (6,951 ) (44,389 ) (31,647 ) — (109,588 ) Interest expense, net of amounts capitalized — — — — — 21,120 — 21,120 Loss before income taxes (8,986 ) (13,216 ) (4,372 ) (6,938 ) (44,711 ) (52,639 ) — (130,862 ) Long-lived assets(1) 450,384 111,697 45,705 106,055 10,334 160,835 (115,326 ) 769,684 Total assets 1,304,552 241,422 114,259 467,392 33,145 (840,066 ) (325,083 ) 995,621 Capital expenditures 521 865 — 954 — 13 — 2,353 Successor company as of and for the nine months ended September 30, 2017 U.S. Rig Services Fluid Management Services Coiled Tubing Services Fishing and Rental Services International Functional Support(2) Reconciling Eliminations Total Revenues from external customers $ 184,026 $ 57,475 $ 27,005 $ 45,808 $ 5,571 $ — $ — $ 319,885 Intersegment revenues 235 887 49 2,472 — — (3,643 ) — Depreciation and amortization 23,228 16,627 3,956 17,655 791 1,068 — 63,325 Impairment expense — — — — 187 — — 187 Other operating expenses 163,564 58,274 23,155 16,902 9,373 65,211 — 336,479 Operating income (loss) (2,766 ) (17,426 ) (106 ) 11,251 (4,780 ) (66,279 ) — (80,106 ) Reorganization items, net — — — — — 1,501 — 1,501 Interest expense, net of amounts capitalized — — — — — 23,672 — 23,672 Income (loss) before income taxes (2,605 ) (17,485 ) (94 ) 11,485 (74 ) (90,727 ) — (99,500 ) Long-lived assets(1) 166,993 78,718 19,856 68,200 7 56,462 (32,445 ) 357,791 Total assets 287,305 41 38,450 363,879 10,117 (77,212 ) (71,475 ) 551,105 Capital expenditures 5,956 1,828 216 654 475 481 — 9,610 Predecessor company as of and for the nine months ended September 30, 2016 U.S. Rig Services Fluid Management Services Coiled Tubing Services Fishing and Rental Services International Functional Support(2) Reconciling Eliminations Total Revenues from external customers $ 169,627 $ 61,230 $ 24,294 $ 43,773 $ 9,582 $ — $ — $ 308,506 Intersegment revenues 737 733 43 3,448 284 — (5,245 ) — Depreciation and amortization 44,278 17,725 8,574 21,385 6,067 7,046 — 105,075 Impairment expense — — — — 40,000 — — 40,000 Other operating expenses 154,393 70,557 32,298 42,127 17,865 88,452 — 405,692 Operating loss (29,044 ) (27,052 ) (16,578 ) (19,739 ) (54,350 ) (95,498 ) — (242,261 ) Interest expense, net of amounts capitalized — — — — — 64,061 — 64,061 Loss before income taxes (29,011 ) (27,003 ) (16,455 ) (19,719 ) (54,986 ) (158,483 ) — (305,657 ) Long-lived assets(1) 450,384 111,697 45,705 106,055 10,334 160,835 (115,326 ) 769,684 Total assets 1,304,552 241,422 114,259 467,392 33,145 (840,066 ) (325,083 ) 995,621 Capital expenditures 1,025 2,885 101 2,470 711 228 — 7,420 (1) Long-lived assets include fixed assets, intangibles and other non-current assets. (2) Functional Support is geographically located in the United States

CONDENSED CONSOLIDATING FINAN31

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	9 Months Ended
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	Sep. 30, 2017
Condensed Consolidating Financial Statements [Abstract]
Condensed Consolidating Balance Sheets	CONDENSED CONSOLIDATING UNAUDITED STATEMENTS OF OPERATIONS Predecessor Three Months Ended September 30, 2016 Parent Company Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 99,332 $ 3,110 $ (36 ) $ 102,406 Direct operating expense — 92,643 3,456 (28 ) 96,071 Depreciation and amortization expense — 32,347 1,120 — 33,467 General and administrative expense 417 39,738 2,301 — 42,456 Impairment expense — 19,597 20,403 — 40,000 Operating loss (417 ) (84,993 ) (24,170 ) (8 ) (109,588 ) Interest expense, net of amounts capitalized 21,120 — — — 21,120 Other (income) loss, net (636 ) 375 325 90 154 Loss before income taxes (20,901 ) (85,368 ) (24,495 ) (98 ) (130,862 ) Income tax benefit — — 110 — 110 Net loss $ (20,901 ) $ (85,368 ) $ (24,385 ) $ (98 ) $ (130,752 )
Condensed Consolidating Unaudited Statements of Operations	CONDENSED CONSOLIDATING UNAUDITED STATEMENTS OF OPERATIONS Predecessor Three Months Ended September 30, 2016 Parent Company Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 99,332 $ 3,110 $ (36 ) $ 102,406 Direct operating expense — 92,643 3,456 (28 ) 96,071 Depreciation and amortization expense — 32,347 1,120 — 33,467 General and administrative expense 417 39,738 2,301 — 42,456 Impairment expense — 19,597 20,403 — 40,000 Operating loss (417 ) (84,993 ) (24,170 ) (8 ) (109,588 ) Interest expense, net of amounts capitalized 21,120 — — — 21,120 Other (income) loss, net (636 ) 375 325 90 154 Loss before income taxes (20,901 ) (85,368 ) (24,495 ) (98 ) (130,862 ) Income tax benefit — — 110 — 110 Net loss $ (20,901 ) $ (85,368 ) $ (24,385 ) $ (98 ) $ (130,752 ) CONDENSED CONSOLIDATING UNAUDITED STATEMENTS OF OPERATIONS Predecessor Nine Months Ended September 30, 2016 Parent Company Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 298,926 $ 9,866 $ (286 ) $ 308,506 Direct operating expense — 265,869 10,481 (262 ) 276,088 Depreciation and amortization expense — 101,557 3,518 — 105,075 General and administrative expense 815 121,427 7,362 — 129,604 Impairment expense — 19,597 20,403 — 40,000 Operating loss (815 ) (209,524 ) (31,898 ) (24 ) (242,261 ) Interest expense, net of amounts capitalized 64,061 — — — 64,061 Other (income) loss, net (1,926 ) 281 657 323 (665 ) Loss before income taxes (62,950 ) (209,805 ) (32,555 ) (347 ) (305,657 ) Income tax (expense) benefit (12 ) — 501 — 489 Net loss $ (62,962 ) $ (209,805 ) $ (32,054 ) $ (347 ) $ (305,168 )
Condensed Consolidating Unaudited Statements of Cash Flows	CONDENSED CONSOLIDATING UNAUDITED STATEMENTS OF CASH FLOWS Predecessor Nine Months Ended September 30, 2016 Parent Company Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ (108,229 ) $ 3,420 $ — $ (104,809 ) Cash flows from investing activities: Capital expenditures — (7,073 ) (347 ) — (7,420 ) Intercompany notes and accounts — 92,033 — (92,033 ) — Other investing activities, net — 13,376 — — 13,376 Net cash provided by (used in) investing activities — 98,336 (347 ) (92,033 ) 5,956 Cash flows from financing activities: Repayments of long-term debt (24,548 ) — — — (24,548 ) Restricted stock (18,605 ) — — — (18,605 ) Repurchases of common stock (165 ) — — — (165 ) Intercompany notes and accounts (92,033 ) — — 92,033 — Other financing activities, net (3,164 ) — — — (3,164 ) Net cash used in financing activities (138,515 ) — — 92,033 (46,482 ) Effect of changes in exchange rates on cash — — (1,908 ) — (1,908 ) Net increase (decrease) in cash and cash equivalents (138,515 ) (9,893 ) 1,165 — (147,243 ) Cash and cash equivalents at beginning of period 191,065 10,024 3,265 — 204,354 Cash and cash equivalents at end of period $ 52,550 $ 131 $ 4,430 $ — $ 57,111

EQUITY (Details)

EQUITY (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
EQUITY (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period (in shares)			20,096,462
Balance at end of period (in shares)	20,109,885		20,109,885
Balance at beginning of period			$ 242,617
Foreign currency translation	$ (1,257)	$ (156)	(239)	$ 1,458
Common stock purchases			(85)
Share-based compensation			11,581
Net loss	(38,220)	$ (130,752)	(98,262)	$ (305,168)
Balance at end of period	$ 155,612		$ 155,612
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period (in shares)			20,096,000
Common stock purchases (in shares)			0
Share-based compensation (in shares)			13,000
Balance at end of period (in shares)	20,109,000		20,109,000
Balance at beginning of period			$ 201
Common stock purchases			0
Share-based compensation			0
Balance at end of period	$ 201		201
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period			252,421
Common stock purchases			(85)
Share-based compensation			11,581
Balance at end of period	263,917		263,917
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period			239
Foreign currency translation			(239)
Balance at end of period	0		0
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period			(10,244)
Net loss			(98,262)
Balance at end of period	$ (108,506)		$ (108,506)

OTHER BALANCE SHEET INFORMATI33

OTHER BALANCE SHEET INFORMATION - Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other current assets:
Prepaid current assets	$ 5,069	$ 10,291
Reinsurance receivable	9,451	7,922
Current assets held for sale	0	3,667
Other	2,898	3,882
Total	$ 17,418	$ 25,762

OTHER BALANCE SHEET INFORMATI34

OTHER BALANCE SHEET INFORMATION - Other Noncurrent Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other non-current assets:
Reinsurance receivable	$ 8,110	$ 8,393
Deposits	1,331	8,292
Equity method investments	0	560
Non-current assets held for sale	0	360
Other	5,166	135
Total	$ 14,607	$ 17,740

OTHER BALANCE SHEET INFORMATI35

OTHER BALANCE SHEET INFORMATION - Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other current liabilities:
Accrued payroll, taxes and employee benefits	$ 16,219	$ 23,224
Accrued operating expenditures	10,313	16,669
Income, sales, use and other taxes	11,105	10,748
Self-insurance reserve	26,994	35,484
Accrued interest	6,586	1,419
Accrued insurance premiums	127	2,347
Unsettled legal claims	10,686	5,398
Accrued severance	250	2,219
Current liabilities held for sale	0	371
Other	103	6,059
Total	$ 82,383	$ 103,938

OTHER BALANCE SHEET INFORMATI36

OTHER BALANCE SHEET INFORMATION - Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other non-current liabilities:
Asset retirement obligations	$ 8,891	$ 9,035
Environmental liabilities	2,075	3,446
Accrued sales, use and other taxes	17,321	16,735
Deferred tax liabilities	0	35
Other	201	528
Total	$ 28,488	$ 29,779

INTANGIBLE ASSETS - Intangible

INTANGIBLE ASSETS - Intangible Assets (Details) - Patents, trademarks and tradename - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Intangible Assets [Line Items]
Gross carrying value	$ 520	$ 520
Accumulated amortization	(43)	0
Net carrying value	$ 477	$ 520

INTANGIBLE ASSETS - Weighted Av

INTANGIBLE ASSETS - Weighted Average Remaining Amortization Periods and Expected Amortization Expense for Next Five Years for Intangible Assets (Details) - Patents, trademarks and tradename $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	8 years 3 months
Expected Amortization Expense-Remainder of 2017	$ 15
Expected Amortization Expense-2018	58
Expected Amortization Expense-2019	58
Expected Amortization Expense-2020	58
Expected Amortization Expense-2021	58
Expected Amortization Expense-2022	$ 58

INTANGIBLE ASSETS - Additional

INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Intangible Assets [Line Items]
Amortization of intangible assets	$ 0.1	$ 0.4	$ 0.1	$ 1.3

LONG-TERM DEBT - Schedule of De

LONG-TERM DEBT - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Term Loan Facility due 2021	$ 248,125	$ 250,000
Unamortized debt issuance costs	(2,015)	(2,023)
Total debt	246,110	247,977
Current portion of long-term debt	2,500	2,500
Long-term debt	$ 243,610	$ 245,477

LONG-TERM DEBT LONG-TERM DEBT -

LONG-TERM DEBT LONG-TERM DEBT - ABL Facility (Details) - ABL Facility [Member] - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Dec. 15, 2016
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 100	$ 80
Senior notes, maturity date	Jun. 15, 2021
Eligible Accounts Receivable for ABL Facility Borrowings	85.00%
Eligible Unbilled Accounts Receivable For ABL Facility Borrowings	80.00%
Maximum Eligible Unbilled Accounts Receivable For ABL Facility Borrowings	$ 35
Maximum Percent Of Commitment For ABL Facility Borrowings	25.00%
Line of Credit Facility, Borrowing Capacity, Description	The ABL Facility provides the ABL Borrowers with the ability to borrow up to an aggregate principal amount equal to the lesser of (i) the aggregate revolving commitments then in effect and (ii) the sum of 85% of the value of eligible accounts receivable plus (b) 80% of the value of eligible unbilled accounts receivable, subject to a limit equal to the greater of (x) $35 million and (y) 25% of the Commitments.
Line of Credit Facility, Remaining Borrowing Capacity	$ 26.5
Credit Facility revolving loans, carrying value	0
Letters of Credit Outstanding, Amount	$ 33.7
Debt Instrument, Description of Variable Rate Basis	Borrowings under the ABL Facility will bear interest, at the ABL Borrowers’ option, at a per annum rate equal to (i) LIBOR for 30, 60, 90, 180, or, with the consent of the ABL Lenders, 360 days, plus an applicable margin that varies from 2.5% to 4.5% depending on the Borrowers’ fixed charge coverage ratio at such time or (ii) a base rate equal to the sum of (a) the greatest of (x) the prime rate, (y) the federal funds rate, plus 0.50% or (z) 30-day LIBOR, plus 1.0% plus (b) an applicable margin that varies from 1.50% to 3.50% depending on the Borrowers’ fixed charge coverage ratio at such time.
Federal Funds Purchased [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
30-day LIBOR [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Maximum [Member]
Line of Credit Facility [Line Items]
Commitment Fee Minimum	1.25%
Maximum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	4.50%
Maximum [Member] \| Prime Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Maximum [Member] \| Federal Funds rate, plus 0.50% [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Maximum [Member] \| 30-day LIBOR, plus 1.0% [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Minimum [Member]
Line of Credit Facility [Line Items]
Commitment Fee Minimum	1.00%
Fixed charge coverage ratio	1
Minimum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Minimum [Member] \| Prime Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Minimum [Member] \| Federal Funds rate, plus 0.50% [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Minimum [Member] \| 30-day LIBOR, plus 1.0% [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.50%

LONG-TERM DEBT LONG-TERM DEBT42

LONG-TERM DEBT LONG-TERM DEBT - Term Loan Facility (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 15, 2016USD ($)
Debt Instrument [Line Items]
Term Loan Facility due 2021	$ 248,125,000	$ 248,125,000	$ 250,000,000
Term Loan Facility [Member]
Debt Instrument [Line Items]
Term Loan Facility due 2021				$ 250,000,000
Senior notes, maturity date		Dec. 15, 2021
Debt Instrument, Description of Variable Rate Basis		Borrowings under the Term Loan Facility will bear interest, at the Company’s option, at a per annum rate equal to (i) LIBOR for one, two, three, six, or, with the consent of the Term Loan Lenders, 12 months, plus 10.25% or (ii) a base rate equal to the sum of (a) the greatest of (x) the prime rate, (y) the Federal Funds rate, plus 0.50% and (z) 30-day LIBOR, plus 1.0% plus (b) 9.25%.
Debt Instrument, Periodic Payment, Principal		$ 625,000
Minimum liquidity requirement	37,500,000	37,500,000
Minimum Liquidity Requirement - Cash	$ 20,000,000	$ 20,000,000
Loan Facility Weighted Average Interest Rate During Period	11.53%	11.40%
Term Loan Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		10.25%
Term Loan Facility [Member] \| Prime Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		9.25%
Term Loan Facility [Member] \| Federal Funds Purchased [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.50%
Term Loan Facility [Member] \| Federal Funds rate, plus 0.50% [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		9.25%
Term Loan Facility [Member] \| 30-day LIBOR [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.00%
Term Loan Facility [Member] \| 30-day LIBOR, plus 1.0% [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		9.25%
Minimum [Member] \| Term Loan Facility [Member]
Debt Instrument [Line Items]
Asset Coverage Ratio	1.35	1.35
First Prepayment Period [Member]
Debt Instrument [Line Items]
Debt redemption price percent of principal amount	106.00%	106.00%
Second Prepayment Period [Member]
Debt Instrument [Line Items]
Debt redemption price percent of principal amount	103.00%	103.00%

OTHER INCOME, NET (Detail)

OTHER INCOME, NET (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
OTHER INCOME, NET (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Other Income and Expenses [Abstract]
Interest income	$ (182)	$ (104)	$ (534)	$ (371)
Foreign exchange (gain) loss	(15)	351	(29)	1,112
Other, net	(4,381)	(93)	(5,216)	(1,406)
Total	$ 4,578	$ (154)	$ 5,779	$ 665

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Effective tax rate	0.30%	0.10%	1.20%	0.20%
Unrecognized tax benefits, net of federal tax benefit, if recognized, would impact effective tax rate	$ 0.3		$ 0.3
Accrued liability for the payment of interest and penalties	0.1		0.1
Remaining unrecognized tax positions, that may be recognized in the next twelve months	$ 0.2		$ 0.2

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Loss Contingencies [Line Items]
Unsettled legal claims	$ 10,686,000	$ 5,398,000
Maximum recommend total restitution	450,000
Self-insurance liabilities related to workers' compensation, vehicular liabilities, and general liability claims recorded	53,500,000	58,700,000
Insurance receivables which partially offset self-insurance liabilities	17,600,000	16,300,000
Environmental remediation liabilities recorded	$ 2,100,000	$ 3,400,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,124	601	3,124	1,112
Numerator
Net loss	$ (38,220)	$ (130,752)	$ (98,262)	$ (305,168)
Denominator
Basic and diluted	20,106	160,846	20,101	160,626
Basic and diluted (per share)	$ (1.90)	$ (0.81)	$ (4.89)	$ (1.90)
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	641	60	641	60
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	645	301	645	812
Stock Appreciation Rights (SARs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	240	0	240
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,838	0	1,838	0

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
SHARE-BASED COMPENSATION (Details) - USD ($) $ in Millions	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense recognized	$ 2.5	$ 0.5	$ 10.9	$ 3.4
Compensation expense expected to be recognized	12.3		$ 12.3
Compensation expense expected to be recognized, weighted average remaining vesting period			1 year 8 months 12 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense recognized	0.8	0	$ 2.7	0
Compensation expense expected to be recognized	4.2		$ 4.2
Compensation expense expected to be recognized, weighted average remaining vesting period			1 year 8 months 12 days
Outside directors \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense recognized	$ 0.1	$ 0	$ 0.6	$ 0

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017		Sep. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenues from external customers		$ 110,653	$ 102,406	$ 319,885		$ 308,506
Intersegment revenues		0	0	0		0
Depreciation and amortization		21,114	33,467	63,325		105,075
Impairment expense		0	40,000	187		40,000
Other operating expenses		124,283	138,527	336,479		405,692
Operating income (loss)		(34,744)	(109,588)	(80,106)		(242,261)
Reorganization items, net		60	0	1,501		0
Interest expense, net of amounts capitalized		8,090	21,120	23,672		64,061
Income (loss) before income taxes		(38,316)	(130,862)	(99,500)		(305,657)
Long-lived assets	[1]	357,791	769,684	357,791		769,684
Total assets		551,105	995,621	551,105		995,621	$ 657,981
Capital expenditures		2,374	2,353	9,610		7,420
U.S. Rig Services
Segment Reporting Information [Line Items]
Revenues from external customers		61,933	59,137	184,026		169,627
Intersegment revenues		135	293	235		737
Depreciation and amortization		8,009	14,602	23,228		44,278
Impairment expense			0	0		0
Other operating expenses		54,426	53,539	163,564		154,393
Operating income (loss)		(502)	(9,004)	(2,766)		(29,044)
Reorganization items, net		0		0
Interest expense, net of amounts capitalized		0	0	0		0
Income (loss) before income taxes		(495)	(8,986)	(2,605)		(29,011)
Long-lived assets	[1]	166,993	450,384	166,993		450,384
Total assets		287,305	1,304,552	287,305		1,304,552
Capital expenditures		1,288	521	5,956		1,025
Fluid Management Services
Segment Reporting Information [Line Items]
Revenues from external customers		20,713	18,969	57,475		61,230
Intersegment revenues		249	203	887		733
Depreciation and amortization		5,350	5,867	16,627		17,725
Impairment expense			0	0		0
Other operating expenses		22,625	26,327	58,274		70,557
Operating income (loss)		(7,262)	(13,225)	(17,426)		(27,052)
Reorganization items, net		0		0
Interest expense, net of amounts capitalized		0	0	0		0
Income (loss) before income taxes		(7,249)	(13,216)	(17,485)		(27,003)
Long-lived assets	[1]	78,718	111,697	78,718		111,697
Total assets		41	241,422	41		241,422
Capital expenditures		735	865	1,828		2,885
Coiled Tubing Services
Segment Reporting Information [Line Items]
Revenues from external customers		12,499	7,146	27,005		24,294
Intersegment revenues		27	0	49		43
Depreciation and amortization		1,259	2,683	3,956		8,574
Impairment expense			0	0		0
Other operating expenses		9,386	8,835	23,155		32,298
Operating income (loss)		1,854	(4,372)	(106)		(16,578)
Reorganization items, net		0		0
Interest expense, net of amounts capitalized		0	0	0		0
Income (loss) before income taxes		1,854	(4,372)	(94)		(16,455)
Long-lived assets	[1]	19,856	45,705	19,856		45,705
Total assets		38,450	114,259	38,450		114,259
Capital expenditures		37	0	216		101
Fishing and Rental Services
Segment Reporting Information [Line Items]
Revenues from external customers		14,177	14,078	45,808		43,773
Intersegment revenues		846	1,194	2,472		3,448
Depreciation and amortization		5,855	6,623	17,655		21,385
Impairment expense			0	0		0
Other operating expenses		10,688	14,406	16,902		42,127
Operating income (loss)		(2,366)	(6,951)	11,251		(19,739)
Reorganization items, net		0		0
Interest expense, net of amounts capitalized		0	0	0		0
Income (loss) before income taxes		(2,355)	(6,938)	11,485		(19,719)
Long-lived assets	[1]	68,200	106,055	68,200		106,055
Total assets		363,879	467,392	363,879		467,392
Capital expenditures		124	954	654		2,470
International
Segment Reporting Information [Line Items]
Revenues from external customers		1,331	3,076	5,571		9,582
Intersegment revenues		0	34	0		284
Depreciation and amortization		234	1,719	791		6,067
Impairment expense			40,000	187		40,000
Other operating expenses		2,225	5,746	9,373		17,865
Operating income (loss)		(1,128)	(44,389)	(4,780)		(54,350)
Reorganization items, net		0		0
Interest expense, net of amounts capitalized		0	0	0		0
Income (loss) before income taxes		3,212	(44,711)	(74)		(54,986)
Long-lived assets	[1]	7	10,334	7		10,334
Total assets		10,117	33,145	10,117		33,145
Capital expenditures		119	0	475		711
Functional Support
Segment Reporting Information [Line Items]
Revenues from external customers	[2]	0	0	0		0
Intersegment revenues	[2]	0	0	0		0
Depreciation and amortization	[2]	407	1,973	1,068		7,046
Impairment expense			0	0	[2]	0
Other operating expenses	[2]	24,933	29,674	65,211		88,452
Operating income (loss)	[2]	(25,340)	(31,647)	(66,279)		(95,498)
Reorganization items, net		60		1,501
Interest expense, net of amounts capitalized	[2]	8,090	21,120	23,672		64,061
Income (loss) before income taxes	[2]	(33,283)	(52,639)	(90,727)		(158,483)
Long-lived assets	[1],[2]	56,462	160,835	56,462		160,835
Total assets	[2]	(77,212)	(840,066)	(77,212)		(840,066)
Capital expenditures	[2]	71	13	481		228
Reconciling Eliminations
Segment Reporting Information [Line Items]
Revenues from external customers		0	0	0		0
Intersegment revenues		(1,257)	(1,724)	(3,643)		(5,245)
Depreciation and amortization		0	0	0		0
Impairment expense			0	0		0
Other operating expenses		0	0	0		0
Operating income (loss)		0	0	0		0
Reorganization items, net		0		0
Interest expense, net of amounts capitalized		0	0	0		0
Income (loss) before income taxes		0	0	0		0
Long-lived assets	[1]	(32,445)	(115,326)	(32,445)		(115,326)
Total assets		(71,475)	(325,083)	(71,475)		(325,083)
Capital expenditures		$ 0	$ 0	$ 0		$ 0

[1]	Long-lived assets include fixed assets, intangibles and other non-current assets
[2]	Functional Support is geographically located in the United States.

CONDENSED CONSOLIDATING FINAN49

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Condensed Consolidating Unaudited Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule of Condensed Consolidating Statement of Operations [Line Items]
REVENUES	$ 110,653	$ 102,406	$ 319,885	$ 308,506
Direct operating expense	87,115	96,071	237,981	276,088
Depreciation and amortization expense	21,114	33,467	63,325	105,075
General and administrative expense	37,168	42,456	98,498	129,604
Impairment expense	0	40,000	187	40,000
Operating loss	(34,744)	(109,588)	(80,106)	(242,261)
Interest expense, net of amounts capitalized	8,090	21,120	23,672	64,061
Other expense (income), net	(4,578)	154	(5,779)	(665)
Loss before income taxes	(38,316)	(130,862)	(99,500)	(305,657)
Income tax expense (benefit)	96	110	1,238	489
Net loss	$ 38,220	130,752	$ 98,262	305,168
Parent Company
Schedule of Condensed Consolidating Statement of Operations [Line Items]
REVENUES		0		0
Direct operating expense		0		0
Depreciation and amortization expense		0		0
General and administrative expense		417		815
Impairment expense		0		0
Operating loss		(417)		(815)
Interest expense, net of amounts capitalized		21,120		64,061
Other expense (income), net		(636)		(1,926)
Loss before income taxes		(20,901)		(62,950)
Income tax expense (benefit)		0		(12)
Net loss		20,901		62,962
Guarantor Subsidiaries
Schedule of Condensed Consolidating Statement of Operations [Line Items]
REVENUES		99,332		298,926
Direct operating expense		92,643		265,869
Depreciation and amortization expense		32,347		101,557
General and administrative expense		39,738		121,427
Impairment expense		19,597		19,597
Operating loss		(84,993)		(209,524)
Interest expense, net of amounts capitalized		0		0
Other expense (income), net		375		281
Loss before income taxes		(85,368)		(209,805)
Income tax expense (benefit)		0		0
Net loss		85,368		209,805
Non-Guarantor Subsidiaries
Schedule of Condensed Consolidating Statement of Operations [Line Items]
REVENUES		3,110		9,866
Direct operating expense		3,456		10,481
Depreciation and amortization expense		1,120		3,518
General and administrative expense		2,301		7,362
Impairment expense		20,403		20,403
Operating loss		(24,170)		(31,898)
Interest expense, net of amounts capitalized		0		0
Other expense (income), net		325		657
Loss before income taxes		(24,495)		(32,555)
Income tax expense (benefit)		110		501
Net loss		24,385		32,054
Eliminations
Schedule of Condensed Consolidating Statement of Operations [Line Items]
REVENUES		(36)		(286)
Direct operating expense		(28)		(262)
Depreciation and amortization expense		0		0
General and administrative expense		0		0
Impairment expense		0		0
Operating loss		(8)		(24)
Interest expense, net of amounts capitalized		0		0
Other expense (income), net		90		323
Loss before income taxes		(98)		(347)
Income tax expense (benefit)		0		0
Net loss		$ 98		$ 347

CONDENSED CONSOLIDATING FINAN50

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Condensed Consolidating Unaudited Statements Of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule of Condensed Consolidating Statement of Cash Flows [Line Items]
Net cash provided by (used in) operating activities			$ (48,633)	$ (104,809)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	$ (2,374)	$ (2,353)	(9,610)	(7,420)
Intercompany notes and accounts				0
Other investing activities, net				13,376
Net cash provided by investing activities			22,234	5,956
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term debt			(1,875)	(24,548)
Restricted cash			16,007	(18,605)
Payment of deferred financing costs			(350)	0
Repurchases of common stock			(85)	(165)
Intercompany notes and accounts				0
Other financing activities, net				(3,164)
Net cash provided by (used in) financing activities			13,697	(46,482)
Effect of changes in exchange rates on cash			(146)	(1,908)
Net decrease in cash and cash equivalents			(12,848)	(147,243)
Cash and cash equivalents, beginning of period			90,505	204,354
Cash and cash equivalents, end of period	$ 77,657	57,111	$ 77,657	57,111
Parent Company
Schedule of Condensed Consolidating Statement of Cash Flows [Line Items]
Net cash provided by (used in) operating activities				0
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures				0
Intercompany notes and accounts				0
Other investing activities, net				0
Net cash provided by investing activities				0
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term debt				(24,548)
Restricted cash				(18,605)
Repurchases of common stock				(165)
Intercompany notes and accounts				(92,033)
Other financing activities, net				(3,164)
Net cash provided by (used in) financing activities				(138,515)
Effect of changes in exchange rates on cash				0
Net decrease in cash and cash equivalents				(138,515)
Cash and cash equivalents, beginning of period				191,065
Cash and cash equivalents, end of period		52,550		52,550
Guarantor Subsidiaries
Schedule of Condensed Consolidating Statement of Cash Flows [Line Items]
Net cash provided by (used in) operating activities				(108,229)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures				(7,073)
Intercompany notes and accounts				92,033
Other investing activities, net				13,376
Net cash provided by investing activities				98,336
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term debt				0
Restricted cash				0
Repurchases of common stock				0
Intercompany notes and accounts				0
Other financing activities, net				0
Net cash provided by (used in) financing activities				0
Effect of changes in exchange rates on cash				0
Net decrease in cash and cash equivalents				(9,893)
Cash and cash equivalents, beginning of period				10,024
Cash and cash equivalents, end of period		131		131
Non-Guarantor Subsidiaries
Schedule of Condensed Consolidating Statement of Cash Flows [Line Items]
Net cash provided by (used in) operating activities				3,420
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures				(347)
Intercompany notes and accounts				0
Other investing activities, net				0
Net cash provided by investing activities				(347)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term debt				0
Restricted cash				0
Repurchases of common stock				0
Intercompany notes and accounts				0
Other financing activities, net				0
Net cash provided by (used in) financing activities				0
Effect of changes in exchange rates on cash				(1,908)
Net decrease in cash and cash equivalents				1,165
Cash and cash equivalents, beginning of period				3,265
Cash and cash equivalents, end of period		4,430		4,430
Eliminations
Schedule of Condensed Consolidating Statement of Cash Flows [Line Items]
Net cash provided by (used in) operating activities				0
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures				0
Intercompany notes and accounts				(92,033)
Other investing activities, net				0
Net cash provided by investing activities				(92,033)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term debt				0
Restricted cash				0
Repurchases of common stock				0
Intercompany notes and accounts				92,033
Other financing activities, net				0
Net cash provided by (used in) financing activities				92,033
Effect of changes in exchange rates on cash				0
Net decrease in cash and cash equivalents				0
Cash and cash equivalents, beginning of period				0
Cash and cash equivalents, end of period		$ 0		$ 0