Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Jan. 30, 2014 | Jun. 30, 2013 |
Document and Entity Information | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $406.80 |
Entity Registrant Name | 'PIONEER ENERGY SERVICES CORP. | ' | ' |
Entity Central Index Key | '0000320575 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 62,537,694 | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $27,385 | $23,733 |
Receivables: | ' | ' |
Trade, net of allowance for doubtful accounts | 115,908 | 115,070 |
Unbilled receivables | 49,535 | 35,140 |
Insurance recoveries | 8,607 | 6,518 |
Income taxes and other | 2,310 | 2,116 |
Deferred income taxes | 13,092 | 11,058 |
Inventory | 13,232 | 12,111 |
Prepaid expenses and other current assets | 9,311 | 13,040 |
Total current assets | 239,380 | 218,786 |
Property and equipment, at cost | 1,724,124 | 1,698,517 |
Less accumulated depreciation | 786,467 | 684,177 |
Net property and equipment | 937,657 | 1,014,340 |
Intangible assets | 32,269 | 43,843 |
Goodwill | 0 | 41,683 |
Noncurrent deferred income taxes | 1,156 | 5,519 |
Other long-term assets | 19,161 | 15,605 |
Total assets | 1,229,623 | 1,339,776 |
Current liabilities: | ' | ' |
Accounts payable | 43,718 | 83,823 |
Current portion of long-term debt | 2,847 | 872 |
Deferred revenues | 699 | 3,880 |
Accrued expenses: | ' | ' |
Payroll and related employee costs | 30,020 | 27,991 |
Insurance premiums and deductibles | 10,940 | 9,708 |
Insurance claims and settlements | 8,607 | 6,348 |
Interest | 12,275 | 12,343 |
Other | 11,727 | 11,585 |
Total current liabilities | 120,833 | 156,550 |
Long-term debt, less current portion | 499,666 | 518,725 |
Noncurrent deferred income taxes | 84,636 | 108,838 |
Other long-term liabilities | 6,055 | 7,983 |
Total liabilities | 711,190 | 792,096 |
Commitments and contingencies (Note 12) | ' | ' |
Shareholders' equity: | ' | ' |
Preferred stock, 10,000,000 shares authorized; none issued and outstanding | 0 | 0 |
Common stock $.10 par value; 100,000,000 shares authorized; 62,534,636 and 62,032,517 shares outstanding at December 31, 2013 and 2012, respectively | 6,275 | 6,217 |
Additional paid-in capital | 456,812 | 449,554 |
Treasury stock, at cost; 219,304 and 134,612 shares at December 31, 2013 and 2012, respectively | -1,895 | -1,264 |
Accumulated earnings | 57,241 | 93,173 |
Total shareholders' equity | 518,433 | 547,680 |
Total liabilities and shareholders' equity | $1,229,623 | $1,339,776 |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
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 | $0.10 | $0.10 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares outstanding | 62,534,636 | 62,032,517 |
Treasury stock, shares | 219,304 | 134,612 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Oil And Gas Drilling Services Revenue | ' | ' | ' | ' | ' | ' | ' | ' | $528,327 | $498,867 | $433,902 |
Production Services Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 431,859 | 420,576 | 282,039 |
Revenues | 238,183 | 243,979 | 248,354 | 229,670 | 227,868 | 229,773 | 229,824 | 231,978 | 960,186 | 919,443 | 715,941 |
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Drilling Services Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 351,630 | 333,846 | 292,559 |
Production Services Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 276,808 | 252,775 | 164,365 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 187,918 | 164,717 | 132,832 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 95,000 | 85,603 | 67,318 |
Bad debt expense (recovery) | ' | ' | ' | ' | ' | ' | ' | ' | 767 | -440 | 925 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 54,292 | 1,131 | 484 |
Total costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 966,415 | 837,632 | 658,483 |
Income (loss) from operations | 8,724 | 1,870 | -27,268 | 10,445 | 15,529 | 13,222 | 23,312 | 29,748 | -6,229 | 81,811 | 57,458 |
Other (expense) income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | -48,310 | -37,049 | -29,721 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | -1,239 | 1,624 | -6,904 |
Total other expense | ' | ' | ' | ' | ' | ' | ' | ' | -49,549 | -35,425 | -36,625 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -55,778 | 46,386 | 20,833 |
Income tax benefit (expense) | 733 | 3,614 | 14,953 | 546 | -1,943 | -1,461 | -5,997 | -6,953 | 19,846 | -16,354 | -9,656 |
Net income (loss) | ($2,515) | ($6,230) | ($25,895) | ($1,292) | $3,560 | $2,615 | $9,685 | $14,172 | ($35,932) | $30,032 | $11,177 |
Income (loss) per common share - Basic (USD per share) | ($0.04) | ($0.10) | ($0.42) | ($0.02) | $0.06 | $0.04 | $0.16 | $0.23 | ($0.58) | $0.49 | $0.19 |
Income (loss) per common share - Diluted (USD per share) | ($0.04) | ($0.10) | ($0.42) | ($0.02) | $0.06 | $0.04 | $0.15 | $0.23 | ($0.58) | $0.48 | $0.19 |
Weighted average number of shares outstanding - Basic | ' | ' | ' | ' | ' | ' | ' | ' | 62,213 | 61,780 | 57,390 |
Weighted-average number of shares outstanding - Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 62,213 | 62,762 | 58,779 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Total | Common Stock [Member] | Treasury [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Stock Options [Member] | Stock Options [Member] | Restricted Stock [Member] | Restricted Stock [Member] |
In Thousands, except Share data, unless otherwise specified | Additional Paid In Capital [Member] | Additional Paid In Capital [Member] | |||||||
Balance, value at Dec. 31, 2010 | $396,333 | $5,425 | ($161) | $339,105 | $51,964 | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2010 | ' | 54,253,000 | 25,000 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 11,177 | ' | ' | ' | 11,177 | ' | ' | ' | ' |
Sale of common stock, net of offering costs, shares | ' | 6,900,000 | ' | ' | ' | ' | ' | ' | ' |
Sale of common stock, net of offering costs, value | 94,343 | 690 | ' | 93,653 | ' | ' | ' | ' | ' |
Exercise of options and related income tax effect, shares | ' | 517,000 | ' | ' | ' | ' | ' | ' | ' |
Exercise of options and related income tax effect, value | 2,884 | 52 | ' | 2,832 | ' | ' | ' | ' | ' |
Purchase of treasury stock, shares | ' | ' | -70,000 | ' | ' | ' | ' | ' | ' |
Purchase of treasury stock, value | -743 | ' | -743 | ' | ' | ' | ' | ' | ' |
Income tax effect from share-based compensation, net | ' | ' | ' | ' | ' | 254 | -254 | ' | ' |
Issuance of restricted stock, shares | ' | 207,000 | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted stock, value | 0 | 21 | ' | -21 | ' | ' | ' | ' | ' |
Stock-based compensation expense | 6,705 | ' | ' | 6,705 | ' | ' | ' | ' | ' |
Balance, value at Dec. 31, 2011 | 510,445 | 6,188 | -904 | 442,020 | 63,141 | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2011 | ' | 61,877,000 | 95,000 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 30,032 | ' | ' | ' | 30,032 | ' | ' | ' | ' |
Exercise of options and related income tax effect, shares | ' | 172,000 | ' | ' | ' | ' | ' | ' | ' |
Exercise of options and related income tax effect, value | 693 | 17 | ' | 676 | ' | ' | ' | ' | ' |
Purchase of treasury stock, shares | ' | ' | -40,000 | ' | ' | ' | ' | ' | ' |
Purchase of treasury stock, value | -360 | ' | -360 | ' | ' | ' | ' | ' | ' |
Income tax effect from share-based compensation, net | ' | ' | ' | ' | ' | -449 | -449 | ' | ' |
Issuance of restricted stock, shares | ' | 117,000 | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted stock, value | 0 | 12 | ' | -12 | ' | ' | ' | ' | ' |
Stock-based compensation expense | 7,319 | ' | ' | 7,319 | ' | ' | ' | ' | ' |
Balance, value at Dec. 31, 2012 | 547,680 | 6,217 | -1,264 | 449,554 | 93,173 | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2012 | 62,032,517 | 62,166,000 | 135,000 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | -35,932 | ' | ' | ' | -35,932 | ' | ' | ' | ' |
Exercise of options and related income tax effect, shares | ' | 271,000 | ' | ' | ' | ' | ' | ' | ' |
Exercise of options and related income tax effect, value | 1,266 | 27 | ' | 1,239 | ' | ' | ' | ' | ' |
Purchase of treasury stock, shares | ' | ' | -85,000 | ' | ' | ' | ' | ' | ' |
Purchase of treasury stock, value | -631 | ' | -631 | ' | ' | ' | ' | ' | ' |
Income tax effect from share-based compensation, net | ' | ' | ' | ' | ' | -56 | -56 | -265 | -265 |
Issuance of restricted stock, shares | ' | 316,000 | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted stock, value | 0 | 31 | ' | -31 | ' | ' | ' | ' | ' |
Stock-based compensation expense | 6,371 | ' | ' | 6,371 | ' | ' | ' | ' | ' |
Balance, value at Dec. 31, 2013 | $518,433 | $6,275 | ($1,895) | $456,812 | $57,241 | ' | ' | ' | ' |
Balance, shares at Dec. 31, 2013 | 62,534,636 | 62,753,000 | 220,000 | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | ($35,932) | $30,032 | $11,177 |
Adjustments to reconcile net income (loss) to cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 187,918 | 164,717 | 132,832 |
Allowance for doubtful accounts | 801 | 76 | 787 |
(Gain) loss on dispositions of property and equipment | -1,421 | -1,199 | 151 |
Stock-based compensation expense | 6,371 | 7,319 | 6,705 |
Amortization of debt issuance costs, discount and premium | 3,095 | 2,985 | 3,302 |
Impairment charges | 54,292 | 1,131 | 484 |
Deferred income taxes | -22,125 | 13,303 | 8,098 |
Change in other long-term assets | -5,741 | -3,865 | 2,828 |
Change in other long-term liabilities | -1,928 | -1,173 | -623 |
Changes in current assets and liabilities: | ' | ' | ' |
Receivables | -16,168 | -12,807 | -46,802 |
Inventory | -1,121 | -927 | -2,161 |
Prepaid expenses and other current assets | 3,729 | -1,266 | -1,965 |
Accounts payable | -166 | 2,431 | 9,331 |
Deferred revenues | -3,181 | -86 | 297 |
Accrued expenses | 6,157 | -1,305 | 20,438 |
Net cash provided by operating activities | 174,580 | 199,366 | 144,879 |
Cash flows from investing activities: | ' | ' | ' |
Acquisition of production services business of Go-Coil | ' | ' | -109,035 |
Acquisition of other production services businesses | ' | ' | -6,502 |
Purchases of property and equipment | -165,356 | -364,324 | -210,066 |
Proceeds from sale of property and equipment | 13,836 | 3,093 | 5,550 |
Proceeds from sale of auction rate securities | 0 | 0 | 12,569 |
Proceeds from insurance recoveries | 844 | 0 | 0 |
Net cash used in investing activities | -150,676 | -361,231 | -307,484 |
Cash flows from financing activities: | ' | ' | ' |
Debt repayments | -60,874 | -874 | -113,158 |
Proceeds from issuance of debt | 40,000 | 100,000 | 250,750 |
Debt issuance costs | -13 | -58 | -7,285 |
Proceeds from exercise of options | 1,266 | 693 | 2,884 |
Proceeds from common stock, net of offering costs of $5,707 | 0 | 0 | 94,343 |
Purchase of treasury stock | -631 | -360 | -743 |
Net cash provided by (used in) financing activities | -20,252 | 99,401 | 226,791 |
Net increase (decrease) in cash and cash equivalents | 3,652 | -62,464 | 64,186 |
Beginning cash and cash equivalents | 23,733 | 86,197 | 22,011 |
Ending cash and cash equivalents | 27,385 | 23,733 | 86,197 |
Supplementary disclosure: | ' | ' | ' |
Interest paid | 46,274 | 44,317 | 26,955 |
Income tax paid | $3,154 | $731 | $952 |
Recovered_Sheet1
Consolidated Statements Of Cash Flows (Parenthetical) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2011 |
Underwriters' commissions and offering costs, due to issuance of common stock | $5,707 |
Organization_and_Summary_of_Si
Organization and Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||
Organization and Summary of Significant Accounting Policies | ' | ||||||||||||||||||
Organization and Summary of Significant Accounting Policies | |||||||||||||||||||
Business | |||||||||||||||||||
Pioneer Energy Services provides drilling services and production services to a diverse group of independent and large oil and gas exploration and production companies throughout much of the onshore oil and gas producing regions of the United States and internationally in Colombia. We also provide coiled tubing and wireline services offshore in the Gulf of Mexico. | |||||||||||||||||||
Our Drilling Services Segment provides contract land drilling services with its fleet of 62 drilling rigs which are currently assigned to the following divisions: | |||||||||||||||||||
Drilling Division | Rig Count | ||||||||||||||||||
South Texas | 14 | ||||||||||||||||||
West Texas | 18 | ||||||||||||||||||
North Dakota | 11 | ||||||||||||||||||
Utah | 7 | ||||||||||||||||||
Appalachia | 4 | ||||||||||||||||||
Colombia | 8 | ||||||||||||||||||
62 | |||||||||||||||||||
In early 2011, we began construction of ten new-build AC drilling rigs that are fit for purpose for domestic shale plays, based on term contracts. We deployed seven of these new-build drilling rigs during 2012, and deployed the final three in early 2013. All of our new-build drilling rigs are currently operating in shale or unconventional plays under long-term drilling contracts. | |||||||||||||||||||
During the second quarter of 2013, we sold two mechanical drilling rigs that were previously idle in our East Texas division, for which we recognized an associated gain of approximately $0.8 million. In September 2013, we decided to sell eight of our mechanical drilling rigs, for which we recognized an impairment charge of $9.2 million dollars during the third quarter. All eight drilling rigs were classified as held for sale at September 30, 2013 and were sold in late October 2013. We did not incur any additional gain or loss upon the sale of these rigs. | |||||||||||||||||||
As of December 31, 2013, 50 of our 62 drilling rigs are earning revenues under drilling contracts, 39 of which are under term contracts, and we are actively marketing all of our idle drilling rigs. All eight of our drilling rigs in Colombia are currently under term contracts that extend through the end of 2014, seven of which are currently working. The remaining rig will begin working under its term contract after it is upgraded from 1,000 horsepower to 1,500 horsepower, which we expect will be completed by the end of the first quarter of 2014. | |||||||||||||||||||
In addition to our drilling rigs, we provide the drilling crews and most of the ancillary equipment needed to operate our drilling rigs. We obtain our contracts for drilling oil and natural gas wells either through competitive bidding or through direct negotiations with existing or potential clients. Our drilling contracts generally provide for compensation on either a daywork, turnkey or footage basis. Contract terms generally depend on the complexity and risk of operations, the on-site drilling conditions, the type of equipment used, and the anticipated duration of the work to be performed. | |||||||||||||||||||
Our Production Services Segment provides a range of services to exploration and production companies, including well servicing, wireline services, coiled tubing services, and fishing and rental services. Our production services operations are concentrated in the major United States onshore oil and gas producing regions in the Mid-Continent and Rocky Mountain states and in the Gulf Coast, both onshore and offshore. As of December 31, 2013, we have a fleet of 109 well servicing rigs consisting of ninety-nine 550 horsepower rigs and ten 600 horsepower rigs, all of which are currently operating or are being actively marketed. We currently provide wireline services and coiled tubing services with a fleet of 119 wireline units and 13 coiled tubing units, and we provide rental services with a gross book value of $17.3 million in fishing and rental tools. | |||||||||||||||||||
Basis of Presentation | |||||||||||||||||||
The accompanying consolidated financial statements include the accounts of Pioneer Energy Services Corp. and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. | |||||||||||||||||||
In preparing the accompanying consolidated financial statements, we make various estimates and assumptions that affect the amounts of assets and liabilities we report as of the dates of the balance sheets and income and expenses we report for the periods shown in the income statements and statements of cash flows. Our actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant changes in the near term relate to our recognition of revenues and costs for turnkey contracts, our estimate of the allowance for doubtful accounts, our determination of depreciation and amortization expenses, our estimates of fair value for impairment evaluations, our estimate of deferred taxes, our estimate of the liability relating to the self-insurance portion of our health and workers’ compensation insurance, and our estimate of compensation related accruals. | |||||||||||||||||||
In preparing the accompanying consolidated financial statements, we have reviewed events that have occurred after December 31, 2013, through the filing of this Form 10-K, for inclusion as necessary. | |||||||||||||||||||
Drilling Contracts | |||||||||||||||||||
Our drilling contracts generally provide for compensation on either a daywork, turnkey or footage basis. Contract terms generally depend on the complexity and risk of operations, the on-site drilling conditions, the type of equipment used, and the anticipated duration of the work to be performed. Spot market contracts generally provide for the drilling of a single well and typically permit the client to terminate on short notice. During periods of high rig demand, or for our newly constructed rigs, we enter into longer-term drilling contracts. Currently, we have contracts with terms of six months to four years in duration. As of December 31, 2013, we have 39 drilling rigs operating under term contracts, which if not renewed at the end of their terms, will expire as follows: | |||||||||||||||||||
Term Contract Expiration by Period | |||||||||||||||||||
Total | Within | 6 Months | 1 Year to | 18 Months | 2 to 4 Years | ||||||||||||||
Term Contracts | 6 Months | to 1 Year | 18 Months | to 2 Years | |||||||||||||||
United States | 33 | 18 | 4 | 5 | 1 | 5 | |||||||||||||
Colombia | 6 | — | 6 | — | — | — | |||||||||||||
39 | 18 | 10 | 5 | 1 | 5 | ||||||||||||||
Foreign Currencies | |||||||||||||||||||
Our functional currency for our foreign subsidiary in Colombia is the U.S. dollar. Nonmonetary assets and liabilities are translated at historical rates and monetary assets and liabilities are translated at exchange rates in effect at the end of the period. Income statement accounts are translated at average rates for the period. Gains and losses from remeasurement of foreign currency financial statements into U.S. dollars and from foreign currency transactions are included in other income or expense. | |||||||||||||||||||
Revenue and Cost Recognition | |||||||||||||||||||
Drilling Services—Our Drilling Services Segment earns revenues by drilling oil and gas wells for our clients under daywork, turnkey or footage contracts, which usually provide for the drilling of a single well. Drilling contracts for individual wells are usually completed in less than 60 days. We recognize revenues on daywork contracts for the days completed based on the dayrate each contract specifies. We recognize revenues from our turnkey and footage contracts on the percentage-of-completion method based on our estimate of the number of days to complete each contract. All our revenues are recognized net of applicable sales taxes. | |||||||||||||||||||
Our management has determined that it is appropriate to use the percentage-of-completion method to recognize revenue on our turnkey and footage contracts. Although our turnkey and footage contracts do not have express terms that provide us with rights to receive payment for the work that we perform prior to drilling wells to the agreed-on depth, we use this method because, as provided in applicable accounting literature, we believe we achieve a continuous sale for our work-in-progress and believe, under applicable state law, we ultimately could recover the fair value of our work-in-progress even in the event we were unable to drill to the agreed-on depth in breach of the applicable contract. However, in the event we were unable to drill to the agreed-on depth in breach of the contract, ultimate recovery of that value would be subject to negotiations with the client and the possibility of litigation. | |||||||||||||||||||
If a client defaults on its payment obligation to us under a turnkey or footage contract, we would need to rely on applicable law to enforce our lien rights, because our turnkey and footage contracts do not expressly grant to us a security interest in the work we have completed under the contract and we have no ownership rights in the work-in-progress or completed drilling work, except any rights arising under the applicable lien statute on foreclosure. If we were unable to drill to the agreed-on depth in breach of the contract, we also would need to rely on equitable remedies outside of the contract available in applicable courts to recover the fair value of our work-in-progress under a turnkey or footage contract. | |||||||||||||||||||
The risks to us under a turnkey contract and, to a lesser extent, under footage contracts, are substantially greater than on a contract drilled on a daywork basis. Under a turnkey contract, we assume most of the risks associated with drilling operations that are generally assumed by the operator in a daywork contract, including the risks of blowout, loss of hole, stuck drill pipe, machinery breakdowns and abnormal drilling conditions, as well as risks associated with subcontractors’ services, supplies, cost escalations and personnel operations. | |||||||||||||||||||
We accrue estimated contract costs on turnkey and footage contracts for each day of work completed based on our estimate of the total costs to complete the contract divided by our estimate of the number of days to complete the contract. Contract costs include labor, materials, supplies, repairs and maintenance, operating overhead allocations and allocations of depreciation and amortization expense. In addition, the occurrence of uninsured or under-insured losses or operating cost overruns on our turnkey and footage contracts could have a material adverse effect on our financial position and results of operations. Therefore, our actual results for a contract could differ significantly if our cost estimates for that contract are later revised from our original cost estimates for a contract in progress at the end of a reporting period which was not completed prior to the release of our financial statements. | |||||||||||||||||||
With most drilling contracts, we receive payments contractually designated for the mobilization of rigs and other equipment. Payments received, and costs incurred for the mobilization services are deferred and recognized on a straight line basis over the related contract term. Costs incurred to relocate rigs and other drilling equipment to areas in which a contract has not been secured are expensed as incurred. Reimbursements that we receive for out-of-pocket expenses are recorded as revenue and the out-of-pocket expenses for which they relate are recorded as operating costs. | |||||||||||||||||||
The assets “prepaid expenses and other current assets” and “other long-term assets” include the current and long-term portions of deferred mobilization costs for certain drilling contracts. The liabilities “deferred revenues” and “other long-term liabilities” include the current and long-term portions of deferred mobilization revenues for certain drilling contracts and amounts collected on contracts in excess of revenues recognized. As of December 31, 2013 we had $0.7 million and $0.9 million of current deferred mobilization revenues and costs, respectively, and $0.4 million and $0.5 million of long-term deferred mobilization revenues and costs, respectively. Our deferred mobilization costs and revenues primarily related to long-term contracts for our new-build drilling rigs and long-term contracts for drilling rigs which we moved between drilling divisions. Amortization of deferred mobilization revenues was $5.3 million, $6.3 million and $5.1 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||
Production Services—Our Production Services Segment earns revenues for well servicing, wireline services, coiled tubing services and fishing and rental services pursuant to master services agreements based on purchase orders, contracts or other arrangements with the client that include fixed or determinable prices. Production services jobs are generally short-term and are charged at current market rates. Production service revenue is recognized when the service has been rendered and collectability is reasonably assured. | |||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||
For purposes of the statements of cash flows, we consider all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents consist of investments in corporate and government money market accounts. Cash equivalents at December 31, 2013 and 2012 were $0.7 million and $3.1 million, respectively. | |||||||||||||||||||
Trade Accounts Receivable | |||||||||||||||||||
We record trade accounts receivable at the amount we invoice our clients. These accounts do not bear interest. The allowance for doubtful accounts is our best estimate of the amount of probable credit losses in our accounts receivable as of the balance sheet date. We determine the allowance based on the credit worthiness of our clients and general economic conditions. Consequently, an adverse change in those factors could affect our estimate of our allowance for doubtful accounts. | |||||||||||||||||||
We review our allowance for doubtful accounts on a monthly basis. Our typical drilling contract provides for payment of invoices in 30 days. We generally do not extend payment terms beyond 30 days and have not extended payment terms beyond 90 days for any of our contracts in the last three fiscal years. Our production services terms generally provide for payment of invoices in 30 days. Balances more than 90 days past due are reviewed individually for collectability. We charge off account balances against the allowance after we have exhausted all reasonable means of collection and determined that the potential for recovery is remote. We do not have any off-balance sheet credit exposure related to our clients. | |||||||||||||||||||
The changes in our allowance for doubtful accounts consist of the following (amounts in thousands): | |||||||||||||||||||
Year ended December 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Balance at beginning of year | $ | 1,044 | $ | 994 | $ | 712 | |||||||||||||
Increase in allowance charged to expense | 801 | 76 | 787 | ||||||||||||||||
Accounts charged against the allowance, net of recoveries | (489 | ) | (26 | ) | (505 | ) | |||||||||||||
Balance at end of year | $ | 1,356 | $ | 1,044 | $ | 994 | |||||||||||||
Unbilled Accounts Receivable | |||||||||||||||||||
The asset “unbilled receivables” represents revenues we have recognized in excess of amounts billed on drilling contracts and production services completed but not yet invoiced. We typically invoice our clients at 15-day intervals during the performance of daywork drilling contracts and upon completion of the daywork contract. Turnkey and footage drilling contracts are invoiced upon completion of the contract. | |||||||||||||||||||
Our unbilled receivables totaled $49.5 million at December 31, 2013, of which $45.4 million represented revenue recognized but not yet billed on daywork drilling contracts in progress at December 31, 2013 and $4.1 million related to unbilled receivables for our Production Services Segment. | |||||||||||||||||||
Inventories | |||||||||||||||||||
Inventories primarily consist of drilling rig replacement parts and supplies held for use by our Drilling Services Segment’s operations in Colombia and supplies held for use by our Production Services Segment’s operations. Inventories are valued at the lower of cost (first in, first out or actual) or market value. | |||||||||||||||||||
Prepaid Expenses and Other Current Assets | |||||||||||||||||||
Prepaid expenses and other current assets include items such as insurance, rent deposits and fees. We routinely expense these items in the normal course of business over the periods these expenses benefit. Prepaid expenses and other current assets also include the current portion of deferred mobilization costs for certain drilling contracts that are recognized on a straight-line basis over the contract term. | |||||||||||||||||||
Investments | |||||||||||||||||||
At December 31, 2010, we held $15.9 million (par value) of auction rate preferred securities (“ARPSs”), which were variable-rate preferred securities with a long-term maturity that were classified as held for sale. On January 19, 2011, we entered into an agreement with a financial institution to sell the ARPSs for $12.6 million, which represented 79% of the par value, plus accrued interest. The $3.3 million difference between the ARPSs’ par value of $15.9 million and the sales price of $12.6 million represented an other-than-temporary impairment of the ARPSs investment which was reflected as an impairment of investments in our consolidated statement of operations for the year ended December 31, 2010. | |||||||||||||||||||
Under the ARPSs sales agreement, we retained the unilateral right for a period ending January 7, 2013 to: (a) repurchase all the ARPSs that were sold at the $12.6 million price at which they were initially sold to the financial institution; and (b) if not repurchased, receive additional proceeds from the financial institution upon redemption of the ARPSs by the original issuer of these securities (collectively, the “ARPSs Call Option”). Upon origination, the fair value of the ARPSs Call Option was estimated to be $0.6 million and was recognized as other income in our consolidated statement of operations for 2011. The ARPSs Call Option was subsequently carried at fair value on our consolidated balance sheets with changes in fair value recognized as "other income (loss)" in our consolidated statement of operations. | |||||||||||||||||||
On October 1, 2012, we received proceeds of $0.6 million from the redemption of certain ARPSs by the original issuer of the securities, which we recognized as other income in our consolidated statement of operations for the year ended December 31, 2012. The ARPSs Call Option had a fair value of zero as of December 31, 2012 and expired on January 7, 2013. | |||||||||||||||||||
Property and Equipment | |||||||||||||||||||
Property and equipment are carried at cost less accumulated depreciation. Depreciation is provided for our assets over the estimated useful lives of the assets using the straight-line method. We record the same depreciation expense whether a rig is idle or working. We charge our expenses for maintenance and repairs to operating costs. We capitalize expenditures for renewals and betterments to the appropriate property and equipment accounts. | |||||||||||||||||||
We evaluate for potential impairment of long-lived tangible and intangible assets subject to amortization when indicators of impairment are present. Circumstances that could indicate a potential impairment include significant adverse changes in industry trends, economic climate, legal factors, and an adverse action or assessment by a regulator. More specifically, significant adverse changes in industry trends include significant declines in revenue rates, utilization rates, oil and natural gas market prices and industry rig counts for drilling rigs and well servicing rigs. In performing an impairment evaluation, we estimate the future undiscounted net cash flows from the use and eventual disposition of long-lived tangible and intangible assets grouped at the lowest level that cash flows can be identified. For our Production Services Segment, we perform an impairment evaluation and estimate future undiscounted cash flows for the individual reporting units (well servicing, wireline, coiled tubing and fishing and rental services). For our Drilling Services Segment, we perform an impairment evaluation and estimate future undiscounted cash flows for individual drilling rig assets. If the sum of the estimated future undiscounted net cash flows is less than the carrying amount of the asset group, then we would determine the fair value of the asset group. The amount of an impairment charge would be measured as the difference between the carrying amount and the fair value of these assets. The assumptions used in the impairment evaluation for long-lived assets are inherently uncertain and require management judgment. | |||||||||||||||||||
Intangible Assets | |||||||||||||||||||
Our intangible assets consist of the following components as of December 31, 2013 and 2012 (amounts in thousands): | |||||||||||||||||||
December 31, | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Cost: | |||||||||||||||||||
Client relationships | $ | 63,168 | $ | 66,273 | |||||||||||||||
Non-compete agreements | 1,355 | 1,355 | |||||||||||||||||
Trademarks / trade names | 575 | 568 | |||||||||||||||||
Accumulated amortization: | |||||||||||||||||||
Client relationships | (31,584 | ) | (23,667 | ) | |||||||||||||||
Non-compete agreements | (745 | ) | (436 | ) | |||||||||||||||
Trademarks / trade names | (500 | ) | (250 | ) | |||||||||||||||
$ | 32,269 | $ | 43,843 | ||||||||||||||||
Substantially all of our intangible assets were recorded in connection with the acquisitions of production services businesses and are subject to amortization. The cost of our client relationships, trademarks and trade names are amortized using the straight-line method over their respective estimated economic useful lives which range from two to nine years. Amortization expense for our non-compete agreements is calculated using the straight-line method over the period of the agreements which range from three to seven years. Amortization expense was $8.5 million, $8.7 million and $4.3 million for the years ended December 31, 2013, 2012 and 2011, respectively. Amortization expense is estimated to be approximately $8.0 million, $7.9 million, $5.1 million, $3.8 million and $3.8 million for the years ending December 31, 2014, 2015, 2016, 2017 and 2018, respectively. Actual amortization amounts may be different due to future acquisitions, impairments, changes in amortization periods, or other factors. | |||||||||||||||||||
We evaluate for potential impairment of long-lived tangible and intangible assets subject to amortization when indicators of impairment are present. Circumstances that could indicate a potential impairment include significant adverse changes in industry trends, economic climate, legal factors, and an adverse action or assessment by a regulator. More specifically, significant adverse changes in industry trends include significant declines in revenue rates, utilization rates, oil and natural gas market prices and industry rig counts for drilling rigs and well servicing rigs. In performing an impairment evaluation, we estimate the future undiscounted net cash flows from the use and eventual disposition of long-lived tangible and intangible assets grouped at the lowest level that cash flows can be identified. For our Production Services Segment, we perform an impairment evaluation and estimate future undiscounted cash flows for the individual reporting units (well servicing, wireline, coiled tubing and fishing and rental services). If the sum of the estimated future undiscounted net cash flows is less than the carrying amount of the asset group, then we would determine the fair value of the asset group. The amount of an impairment charge would be measured as the difference between the carrying amount and the fair value of these assets. The assumptions used in the impairment evaluation for long-lived assets are inherently uncertain and require management judgment. | |||||||||||||||||||
Due to several significant adverse factors affecting our coiled tubing services reporting unit, including increased competition in certain coiled tubing markets, turnover of key personnel and lower than anticipated utilization, all of which contributed to a decline in our projected cash flows for the coiled tubing reporting unit, we performed an impairment analysis of our long-lived tangible and intangible assets as of June 30, 2013. We determined that the sum of the estimated future undiscounted net cash flows for our coiled tubing services reporting unit was less than the carrying amount at June 30, 2013. We then performed a valuation of the assets which resulted in a non-cash impairment charge of $3.1 million to reduce our intangible asset carrying value of client relationships. This impairment charge did not have an impact on our liquidity or debt covenants; however, it was a reflection of the increased competition in certain coiled tubing markets where we operate and a decline in our projected cash flows for the coiled tubing reporting unit. | |||||||||||||||||||
The most significant inputs used in our impairment analysis include the projected utilization and pricing of our coiled tubing services, which are classified as Level 3 inputs as defined by ASC Topic 820, Fair Value Measurements and Disclosures. An increase of 1% in either the utilization or pricing assumptions would have resulted in a decrease to our impairment charge for our long-lived intangible assets of approximately $1 million. Similarly, a decrease of 1% in either of these assumptions would have led to an approximate $1 million increase to our impairment charge. Although we believe the assumptions and estimates used in our analysis are reasonable and appropriate, different assumptions and estimates could materially impact the analysis and resulting conclusions. The assumptions used in estimating fair values and performing the impairment test are inherently uncertain and require management judgment. | |||||||||||||||||||
As of December 31, 2013, our carrying value of intangible assets related to the acquisition of Go-Coil was $21.8 million. Due to continued increases in competition in certain coiled tubing markets and lower than anticipated operating results, we performed another impairment analysis of our long-lived tangible and intangible assets as of December 31, 2013. We determined that the sum of the estimated future undiscounted net cash flows for our coiled tubing services reporting unit was in excess of the carrying amount and concluded that no impairment existed as of December 31, 2013. The future undiscounted cash flows used in our impairment analysis include projected increases in utilization and pricing from what we have historically experienced. If we fail to meet the projected increases in utilization and pricing for our coiled tubing services, or in the event of significant unfavorable changes in the forecasted cash flows or key assumptions used in our analysis, the most significant of these being the projected utilization and pricing of our coiled tubing services, then we may incur a future impairment. | |||||||||||||||||||
Our impairment analysis did not result in any impairment charges to our coiled tubing tangible long-lived assets, substantially all of which was related to the 13 coiled tubing units. As discussed further below, we also recorded a non-cash impairment charge to reduce the carrying value of goodwill to zero. | |||||||||||||||||||
Goodwill | |||||||||||||||||||
Goodwill results from business acquisitions and represents the excess of acquisition costs over the fair value of the net assets acquired. In connection with the acquisition of the production services business from Go-Coil, we recorded $41.7 million of goodwill at December 31, 2011, all of which was allocated to the coiled tubing services reporting unit within our Production Services Segment. | |||||||||||||||||||
We perform a qualitative assessment of goodwill annually as of December 31 or more frequently if events or changes in circumstances indicate that the asset might be impaired. Circumstances that could indicate a potential impairment include a significant adverse change in the economic or business climate, a significant adverse change in legal factors, an adverse action or assessment by a regulator, unanticipated competition, loss of key personnel and the likelihood that a reporting unit or significant portion of a reporting unit will be sold or otherwise disposed of. In addition, these circumstances could lead to our net book value exceeding our market capitalization which is another indicator of a potential impairment of goodwill. | |||||||||||||||||||
If our qualitative assessment of goodwill indicates a possible impairment, we test for goodwill impairment using a two-step process. First, the fair value of each reporting unit with goodwill is compared to its carrying value to determine whether an indication of impairment exists. Second, if impairment is indicated, then the fair value of the reporting unit's goodwill is determined by allocating the unit's fair value to its assets and liabilities (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination on the impairment test date. The amount of impairment for goodwill is measured as the excess of the carrying value of the reporting unit over its fair value. | |||||||||||||||||||
When estimating fair values of a reporting unit for our goodwill impairment test, we use an income approach which provides an estimated fair value based on the reporting unit’s anticipated cash flows that are discounted using a weighted average cost of capital rate. The primary assumptions used in the income approach are estimated cash flows and weighted average cost of capital. Estimated cash flows are primarily based on projected revenues, operating costs and capital expenditures and are discounted at a rate that is based on our weighted average cost of capital and estimated industry average rates for cost of capital. To ensure the reasonableness of the estimated fair value of our reporting units, we consider current industry market multiples and we perform a reconciliation of our total market capitalization to the total estimated fair value of all our reporting units. | |||||||||||||||||||
Due to several significant adverse factors affecting our coiled tubing services reporting unit, including increased competition in certain coiled tubing markets, turnover of key personnel and lower than anticipated utilization, all of which contributed to a decline in our projected cash flows for the coiled tubing reporting unit, we performed an impairment analysis of our goodwill as of June 30, 2013. We determined that the fair value of our coiled tubing services reporting unit was less than its carrying value, including goodwill, and therefore, we performed the second step of the goodwill impairment test which led us to conclude that there would be no remaining implied fair value attributable to goodwill. Accordingly, we recorded a non-cash impairment charge of $41.7 million to reduce the carrying value of our goodwill to zero. This impairment charge did not have an impact on our liquidity or debt covenants; however, it was a reflection of the increased competition in certain coiled tubing markets where we operate and a decline in our projected cash flows for the coiled tubing reporting unit. | |||||||||||||||||||
The most significant inputs used in our impairment analysis include the projected utilization and pricing of our coiled tubing services and the weighted average cost of capital (discount rate) used in order to calculate the discounted cash flows for the reporting unit. These inputs are classified as Level 3 inputs as defined by ASC Topic 820, Fair Value Measurements and Disclosures. We assumed a 13% discount rate to estimate the fair value of the coiled tubing services reporting unit. A decrease in this assumption of 5% would have resulted in a decrease to our goodwill impairment charge of approximately $3.5 million. An increase of 1% in either the utilization or pricing assumptions would have resulted in a decrease to our goodwill impairment charge of approximately $2 million or $3 million, respectively. Although we believe the assumptions and estimates used in our analysis are reasonable and appropriate, different assumptions and estimates could materially impact the analysis and resulting conclusions. The assumptions used in estimating fair values of reporting units and performing the goodwill impairment test are inherently uncertain and require management judgment. | |||||||||||||||||||
Other Long-Term Assets | |||||||||||||||||||
Other long-term assets consist of cash deposits related to the deductibles on our workers’ compensation insurance policies, the long-term portion of deferred mobilization costs, debt issuance costs, net of amortization, and noncurrent prepaid taxes in Colombia which are creditable against future income taxes. | |||||||||||||||||||
Other Current Liabilities | |||||||||||||||||||
Our other accrued expenses include accruals for items such as property tax, sales tax, professional and other fees. We routinely expense these items in the normal course of business over the periods these expenses benefit. Our other accrued expenses also consist of the current portion of the Colombian net equity tax. | |||||||||||||||||||
Other Long-Term Liabilities | |||||||||||||||||||
Our other long-term liabilities consist of the noncurrent portion of deferred mobilization revenues, liabilities associated with our long-term compensation plans, the noncurrent portion of the Colombia net equity tax and other deferred liabilities. | |||||||||||||||||||
Treasury Stock | |||||||||||||||||||
Treasury stock purchases are accounted for under the cost method whereby the cost of the acquired common stock is recorded as treasury stock. Gains and losses on the subsequent reissuance of treasury stock shares are credited or charged to additional paid in capital using the average cost method. | |||||||||||||||||||
Stock-based Compensation | |||||||||||||||||||
We recognize compensation cost for stock option, restricted stock and restricted stock unit awards based on the fair value estimated in accordance with ASC Topic 718, Compensation—Stock Compensation. For our awards with graded vesting, we recognize compensation expense on a straight-line basis over the service period for each separately vesting portion of the award as if the award was, in substance, multiple awards. | |||||||||||||||||||
We receive a tax deduction for certain stock option exercises during the period the options are exercised, generally for the excess of the market price of our common stock on the exercise date over the exercise price of the stock options. We report all excess tax benefits resulting from the exercise of stock options as financing cash flows in our consolidated statement of cash flows. | |||||||||||||||||||
Income Taxes | |||||||||||||||||||
We follow the asset and liability method of accounting for income taxes, under which we recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. We measure our deferred tax assets and liabilities by using the enacted tax rates we expect to apply to taxable income in the years in which we expect to recover or settle those temporary differences. The effect of a change in tax rates on deferred tax assets and liabilities is reflected in income in the period during which the change occurs. A recent change in Colombia tax rates is described in more detail in Note 6, Income Taxes. | |||||||||||||||||||
Reclassifications | |||||||||||||||||||
Certain amounts in the financial statements for the prior years have been reclassified to conform to the current year’s presentation. |
Acquisitions
Acquisitions | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Schedule of Business Combinations [Abstract] | ' | |||
Business Combination Disclosure [Text Block] | ' | |||
2. Acquisitions | ||||
On December 31, 2011, we acquired Go-Coil, L.L.C., a Louisiana limited liability company (“Go-Coil”) which provided coiled tubing services with a fleet of seven onshore units and three offshore units through its facilities in Louisiana, Texas, Oklahoma and Pennsylvania. The aggregate purchase price for the acquisition was approximately $110.4 million, which consisted of assets acquired of $114.9 million and liabilities assumed of $4.5 million. We funded the acquisition with cash on hand that was primarily generated from the proceeds of the Senior Notes issued in November 2011, as described in Note 3, Long-term Debt. | ||||
The following table summarizes the allocation of the purchase price to the estimated fair value of the assets acquired and liabilities assumed as of the date of acquisition (amounts in thousands): | ||||
Cash acquired | $ | 313 | ||
Other current assets | 9,068 | |||
Property and equipment | 30,103 | |||
Intangibles and other assets | 33,695 | |||
Goodwill | 41,683 | |||
Total assets acquired | $ | 114,862 | ||
Current liabilities | 4,337 | |||
Long-term debt | 131 | |||
Total liabilities assumed | 4,468 | |||
Net assets acquired | $ | 110,394 | ||
The following unaudited pro forma consolidated summary financial information gives effect of the acquisition of the production services business from Go-Coil as though it was effective as of the beginning of the year ended December 31, 2011. Pro forma adjustments primarily relate to additional depreciation, amortization, interest and tax expenses, as well as the removal of approximately $14.1 million of nonrecurring costs, primarily related to discontinued compensation arrangements and acquisition related costs. The pro forma information reflects our company’s historical data and Go-Coil's historical data for the periods indicated. The pro forma data may not be indicative of the results we would have achieved had we completed the acquisition on January 1, 2011, or what we may achieve in the future and should be read in conjunction with the accompanying financial statements. | ||||
Pro Forma | ||||
For the year ended December 31, 2011 | ||||
(in thousands) | ||||
Total revenues | $ | 762,978 | ||
Net earnings | $ | 8,412 | ||
Earnings per common share: | ||||
Basic | $ | 0.15 | ||
Diluted | $ | 0.14 | ||
The acquisition of the coiled tubing services business from Go-Coil was accounted for as an acquisition of a business in accordance with ASC Topic 805, Business Combinations. The purchase price allocation for the Go-Coil acquisition was finalized as of June 30, 2012. Goodwill was recognized as part of the Go-Coil acquisition, since the purchase price exceeded the estimated fair value of the assets acquired and liabilities assumed. We believe that the goodwill relates to the acquired workforce, future synergies between our existing service offerings and the ability to expand our service offerings. | ||||
Prior to the Go-Coil acquisition, we completed four separate acquisitions in 2011 of other production services businesses for a total of $6.5 million in cash. The identifiable assets recorded in connection with these acquisitions included fixed assets of $5.2 million, representing six wireline units and two well servicing rigs, and intangible assets of $1.3 million representing client relationships and non-competition agreements. We did not recognize any goodwill in conjunction with these acquisitions and no contingent assets or liabilities were assumed. These four acquisitions have been accounted for as acquisitions of businesses in accordance with ASC Topic 805, Business Combinations. |
Property_and_Equipment_Notes
Property and Equipment (Notes) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Property and Equipment [Abstract] | ' | |||||
Property, Plant and Equipment Disclosure [Text Block] | ' | |||||
3. Property and Equipment | ||||||
As of December 31, 2013, the estimated useful lives and costs of our asset classes are as follows: | ||||||
Lives | Cost | |||||
(amounts in | ||||||
thousands) | ||||||
Drilling rigs and equipment | 3 - 25 | $ | 1,223,621 | |||
Well servicing rigs and equipment | 20-Mar | 205,409 | ||||
Wireline units and equipment | 10-Feb | 128,800 | ||||
Coiled tubing units and equipment | 7-Jan | 47,761 | ||||
Fishing and rental tools and equipment | 15-Mar | 17,264 | ||||
Vehicles | 20-Mar | 65,796 | ||||
Office equipment | 10-Mar | 9,274 | ||||
Buildings and improvements | Mar-40 | 23,931 | ||||
Land | — | 2,268 | ||||
$ | 1,724,124 | |||||
As of December 31, 2013 and 2012, we had incurred $19.4 million and $134.9 million, respectively, in construction costs for ongoing projects, primarily for our new-build drilling rigs and additions to our production services fleets. During the years ended December 31, 2013, 2012 and 2011, we capitalized $0.9 million, $10.2 million and $2.3 million, respectively, of interest costs incurred primarily during the construction periods of new-build drilling rigs and other drilling equipment. | ||||||
We recorded gains on disposition of our property and equipment of $1.4 million, gains of $1.2 million and losses of $0.2 million during the years ended December 31, 2013, 2012 and 2011, respectively, in our drilling and production services costs and expenses. During the second quarter of 2013, we sold two mechanical drilling rigs that were previously idle in our East Texas division, for which we recognized an associated gain of approximately $0.8 million. Additionally, we disposed of a total of four wireline units during 2013, as well as other wireline equipment. | ||||||
We recorded impairment charges on our property and equipment of $9.2 million, $1.1 million and $0.5 million for the year ended December 31, 2013, 2012 and 2011, respectively. During the third quarter of 2013, we decided to place eight of our mechanical drilling rigs as held for sale, and we recognized an impairment loss of $9.2 million in order to reduce the carrying value of these assets to their estimated fair value, based on their sales price. The sales of all eight drilling rigs were completed in late October 2013 and we did not incur any additional gain or loss upon the sale of these rigs. We also recorded an impairment of $0.3 million during the third quarter of 2013 in association with our decision to sell certain production services equipment. In March 2012, we retired two mechanical drilling rigs, with most of their components to be used as spare parts, as well as two wireline units and other wireline equipment, and recognized an associated impairment charge of $1.1 million. In September 2011, we decided to place six mechanical drilling rigs as held for sale and to retire another drilling rig from our fleet, with most of its components to be used as spare parts. Sales of all six mechanical drilling rigs were completed by mid November 2011 and we recognized an impairment charge of $0.5 million in September 2011 in association with our decision to dispose of these seven drilling rigs. | ||||||
We evaluate for potential impairment of long-lived tangible and intangible assets subject to amortization when indicators of impairment are present. Circumstances that could indicate a potential impairment include significant adverse changes in industry trends, economic climate, legal factors, and an adverse action or assessment by a regulator. More specifically, significant adverse changes in industry trends include significant declines in revenue rates, utilization rates, oil and natural gas market prices and industry rig counts for drilling rigs and well servicing rigs. In performing an impairment evaluation, we estimate the future undiscounted net cash flows from the use and eventual disposition of long-lived tangible and intangible assets grouped at the lowest level that cash flows can be identified. For our Production Services Segment, we perform an impairment evaluation and estimate future undiscounted cash flows for the individual reporting units (well servicing, wireline, coiled tubing and fishing and rental services). For our Drilling Services Segment, we perform an impairment evaluation and estimate future undiscounted cash flows for individual drilling rig assets. If the sum of the estimated future undiscounted net cash flows is less than the carrying amount of the asset group, then we would determine the fair value of the asset group. The amount of an impairment charge would be measured as the difference between the carrying amount and the fair value of these assets. The assumptions used in the impairment evaluation for long-lived assets are inherently uncertain and require management judgment. | ||||||
In September 2013, we evaluated the drilling rigs in our fleet and decided to place eight of our mechanical drilling rigs as held for sale and recognized an impairment charge to reduce the carrying value of these assets to their estimated fair value, which was based on their sales price. The decision to sell these drilling rigs was primarily due to a decrease in demand for non-top drive mechanical rigs that drill vertical oil and gas wells. Our remaining drilling rig fleet includes mechanical rigs that are currently working, but which may have reduced utilization if demand for vertical drilling continues to soften. We performed an impairment evaluation on the remaining drilling rigs in our fleet which are similar to those that we decided to sell. In order to estimate our future undiscounted cash flows from the use and eventual disposition of these assets, we incorporated probabilities of selling these rigs in the near term, versus working them through the end of their remaining useful lives. Our analysis led us to conclude that no impairment presently exists for the remaining similar drilling rigs. If the demand for vertical drilling continues to soften and these remaining mechanical rigs become idle for an extended amount of time, then the probability of a near term sale may increase, which would likely result in an impairment charge, based on the current market value of these drilling rigs. Although we believe the assumptions and estimates used in our analysis are reasonable and appropriate, different assumptions and estimates could materially impact the analysis and resulting conclusions. | ||||||
Due to several significant adverse factors affecting our coiled tubing services reporting unit, including increased competition in certain coiled tubing markets, turnover of key personnel and lower than anticipated utilization, all of which contributed to a decline in our projected cash flows for the coiled tubing reporting unit, we performed an impairment analysis of our long-lived tangible and intangible assets as of June 30, 2013. We determined that the sum of the estimated future undiscounted net cash flows for our coiled tubing services reporting unit was less than the carrying amount, and recorded impairment charges to reduce the carrying value of our goodwill to zero and to reduce the carrying value of our intangibles to estimated fair value as of June 30, 2013. However, our impairment analysis did not result in any impairment charges to our coiled tubing property and equipment. |
Debt
Debt | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Long-term Debt | ' | |||||||
Debt | ||||||||
Our debt consists of the following (amounts in thousands): | ||||||||
December 31, 2013 | December 31, 2012 | |||||||
Senior secured revolving credit facility | $ | 80,000 | $ | 100,000 | ||||
Senior notes | 419,586 | 418,617 | ||||||
Other | 2,927 | 980 | ||||||
502,513 | 519,597 | |||||||
Less current portion | (2,847 | ) | (872 | ) | ||||
$ | 499,666 | $ | 518,725 | |||||
Senior Secured Revolving Credit Facility | ||||||||
We have a credit agreement, as amended on June 30, 2011, with Wells Fargo Bank, N.A. and a syndicate of lenders which provides for a senior secured revolving credit facility, with sub-limits for letters of credit and swing-line loans, of up to an aggregate principal amount of $250 million, all of which matures on June 30, 2016 (the “Revolving Credit Facility”). The Revolving Credit Facility contains customary mandatory prepayments from the proceeds of certain asset dispositions or debt issuances, which are applied to reduce outstanding revolving and swing-line loans and letter of credit exposure, but in no event will reduce the borrowing availability under the Revolving Credit Facility to less than $250 million. | ||||||||
Borrowings under the Revolving Credit Facility bear interest, at our option, at the LIBOR rate or at the bank prime rate, plus an applicable per annum margin that ranges from 2.50% to 3.25% and 1.50% to 2.25%, respectively. The LIBOR margin and bank prime rate margin currently in effect are 2.75% and 1.75%, respectively. The Revolving Credit Facility requires a commitment fee due quarterly based on the average daily unused amount of the commitments of the lenders, a fronting fee due for each letter of credit issued, and a quarterly letter of credit fee due based on the average undrawn amount of letters of credit outstanding during such period. | ||||||||
Our obligations under the Revolving Credit Facility are secured by substantially all of our domestic assets (including equity interests in Pioneer Global Holdings, Inc. and 65% of the outstanding equity interests of any first-tier foreign subsidiaries owned by Pioneer Global Holdings, Inc., but excluding any equity interest in, and any assets of, Pioneer Services Holdings, LLC) and are guaranteed by certain of our domestic subsidiaries, including Pioneer Global Holdings, Inc. Effective October 1, 2012, Pioneer Coiled Tubing Services, LLC (formerly Go-Coil, L.L.C.) was added as a subsidiary guarantor under the Revolving Credit Facility. Borrowings under the Revolving Credit Facility are available for acquisitions, working capital and other general corporate purposes. | ||||||||
As of December 31, 2013, we had $80.0 million outstanding under our Revolving Credit Facility and $14.0 million in committed letters of credit, which resulted in borrowing availability of $156.0 million under our Revolving Credit Facility. There are no limitations on our ability to access this borrowing capacity other than maintaining compliance with the covenants under the Revolving Credit Facility. At December 31, 2013, we were in compliance with our financial covenants under the Revolving Credit Facility. Our total consolidated leverage ratio was 2.0 to 1.0, our senior consolidated leverage ratio was 0.4 to 1.0, and our interest coverage ratio was 5.3 to 1.0. The financial covenants contained in our Revolving Credit Facility include the following: | ||||||||
• | A maximum total consolidated leverage ratio that cannot exceed 4.00 to 1.00; | |||||||
• | A maximum senior consolidated leverage ratio, which excludes unsecured and subordinated debt, that cannot exceed 2.50 to 1.00; | |||||||
• | A minimum interest coverage ratio that cannot be less than 2.50 to 1.00; and | |||||||
• | If our senior consolidated leverage ratio is greater than 2.00 to 1.00 at the end of any fiscal quarter, our minimum asset coverage ratio cannot be less than 1.00 to 1.00. | |||||||
The Revolving Credit Facility does not restrict capital expenditures as long as (a) no event of default exists under the Revolving Credit Facility or would result from such capital expenditures, (b) after giving effect to such capital expenditures there is availability under the Revolving Credit Facility equal to or greater than $25 million and (c) the senior consolidated leverage ratio as of the last day of the most recent reported fiscal quarter is less than 2.00 to 1.00. If the senior consolidated leverage ratio as of the last day of the most recent reported fiscal quarter is equal to or greater than 2.00 to 1.00, then capital expenditures are limited to $100 million for the fiscal year. The capital expenditure threshold may be increased by any unused portion of the capital expenditure threshold from the immediate preceding fiscal year up to $30 million. | ||||||||
At December 31, 2013, our senior consolidated leverage ratio was not greater than 2.00 to 1.00 and therefore, we were not subject to the capital expenditure threshold restrictions listed above. | ||||||||
The Revolving Credit Facility has additional restrictive covenants that, among other things, limit the incurrence of additional debt, investments, liens, dividends, acquisitions, redemptions of capital stock, prepayments of indebtedness, asset dispositions, mergers and consolidations, transactions with affiliates, hedging contracts, sale leasebacks and other matters customarily restricted in such agreements. In addition, the Revolving Credit Facility contains customary events of default, including without limitation, payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to certain other material indebtedness in excess of specified amounts, certain events of bankruptcy and insolvency, judgment defaults in excess of specified amounts, failure of any guaranty or security document supporting the credit agreement and change of control. | ||||||||
Senior Notes | ||||||||
On March 11, 2010, we issued $250 million of unregistered senior notes with a coupon interest rate of 9.875% that are due in 2018 (the “2010 Senior Notes”). The 2010 Senior Notes were sold with an original issue discount of $10.6 million that was based on 95.75% of their face value, which will result in an effective yield to maturity of approximately 10.677%. On March 11, 2010, we received $234.8 million of net proceeds from the issuance of the 2010 Senior Notes after deductions were made for the $10.6 million of original issue discount and $4.6 million for underwriters’ fees and other debt offering costs. The net proceeds were used to repay a portion of the borrowings outstanding under our Revolving Credit Facility. | ||||||||
On November 21, 2011, we issued $175 million of unregistered Senior Notes (the “2011 Senior Notes”). The 2011 Senior Notes have the same terms and conditions as the 2010 Senior Notes. The 2011 Senior Notes were sold with an original issue premium of $1.8 million that was based on 101% of their face value, which will result in an effective yield to maturity of approximately 9.66%. On November 21, 2011, we received $172.7 million of net proceeds from the issuance of the 2011 Senior Notes, including the original issue premium, and after $4.1 million of deductions were made for underwriters' fees and other debt offering costs. A portion of the net proceeds were used to fund the acquisition of Go-Coil in December 2011. | ||||||||
In accordance with a registration rights agreement with the holders of both our 2010 Senior Notes and 2011 Senior Notes, we filed exchange offer registration statements on Form S-4 with the Securities and Exchange Commission that became effective on September 2, 2010 and July 13, 2012, respectively. These exchange offer registration statements enabled the holders of both our 2010 Senior Notes and 2011 Senior Notes to exchange their senior notes for publicly registered notes with substantially identical terms. References to the “2010 Senior Notes” and “2011 Senior Notes” herein include the senior notes issued in the exchange offers. | ||||||||
The 2010 and 2011 Senior Notes (the “Senior Notes”) are reflected on our consolidated balance sheet at December 31, 2013 with a total carrying value of $419.6 million, which represents the $425.0 million total face value net of the $6.7 million unamortized portion of original issue discount and $1.3 million unamortized portion of original issue premium. The original issue discount and premium are being amortized over the term of the Senior Notes based on the effective interest method. | ||||||||
The Senior Notes will mature on March 15, 2018 with interest due semi-annually in arrears on March 15 and September 15 of each year. We have the option to redeem the Senior Notes, in whole or in part, at any time on or after March 15, 2014 in each case at the redemption price specified in the Indenture dated March 11, 2010 (the “Indenture”) together with any accrued and unpaid interest to the date of redemption. Prior to March 15, 2014, we may also redeem the Senior Notes, in whole or in part, at a “make-whole” redemption price specified in the Indenture, together with any accrued and unpaid interest to the date of redemption. | ||||||||
Upon the occurrence of a change of control, holders of the Senior Notes will have the right to require us to purchase all or a portion of the Senior Notes at a price equal to 101% of the principal amount of each Senior Note, together with any accrued and unpaid interest to the date of purchase. Under certain circumstances in connection with asset dispositions, we will be required to use the excess proceeds of asset dispositions to make an offer to purchase the Senior Notes at a price equal to 100% of the principal amount of each Senior Note, together with any accrued and unpaid interest to the date of purchase. | ||||||||
The Indenture contains certain restrictions generally on our and certain of our subsidiaries’ ability to: | ||||||||
• | pay dividends on stock; | |||||||
• | repurchase stock or redeem subordinated debt or make other restricted payments; | |||||||
• | incur, assume or guarantee additional indebtedness or issue disqualified stock; | |||||||
• | create liens on our assets; | |||||||
• | enter into sale and leaseback transactions; | |||||||
• | pay dividends, engage in loans, or transfer other assets from certain of our subsidiaries; | |||||||
• | consolidate with or merge with or into, or sell all or substantially all of our properties to another person; | |||||||
• | enter into transactions with affiliates; and | |||||||
• | enter into new lines of business. | |||||||
We were in compliance with these covenants as of December 31, 2013. The Senior Notes are not subject to any sinking fund requirements. The Senior Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by certain of our existing domestic subsidiaries and by certain of our future domestic subsidiaries. Effective October 1, 2012, Pioneer Coiled Tubing Services, LLC (formerly Go-Coil, L.L.C.) was added as a subsidiary guarantor under the Indenture. (See Note 14, Guarantor/Non-Guarantor Condensed Consolidated Financial Statements.) | ||||||||
Other Debt | ||||||||
Our other debt represents a short-term financing of insurance premiums with monthly payments due through August 2014 and a capital lease obligation for equipment with monthly payments due through November 2016. | ||||||||
Debt Issuance Costs | ||||||||
Costs incurred in connection with the Revolving Credit Facility were capitalized and are being amortized using the straight-line method over the term of the Revolving Credit Facility which matures in June 2016. Costs incurred in connection with the issuance of our Senior Notes were capitalized and are being amortized using the straight-line method (which approximates the use of the interest method) over the term of the Senior Notes which mature in March 2018. | ||||||||
Capitalized debt costs related to the issuance of our long-term debt were approximately $7.5 million and $9.6 million as of December 31, 2013 and 2012, respectively. We recognized approximately $2.1 million, $2.1 million and $1.8 million of associated amortization during the years ended December 31, 2013, 2012 and 2011, respectively. During 2011, we recognized additional amortization expense for the write-off of $0.6 million of debt issuance costs representing the portion of unamortized debt issuance costs associated with certain syndicate lenders who are no longer participating in the Revolving Credit Facility as amended on June 30, 2011. |
Leases
Leases | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Leases [Abstract] | ' | |||
Leases of Lessee Disclosure | ' | |||
Leases | ||||
We lease our corporate office facilities in San Antonio, Texas at a payment escalating from $40,373 per month in January 2014 to $46,920 per month in December 2020 pursuant to a lease which extends through December 2020, but which is cancelable as early as December 2016 with applicable penalties. We recognize rent expense on a straight-line basis for our corporate office lease. We also lease real estate at 52 other locations, which are primarily used for field offices and storage and maintenance yards, and we lease vehicles, office and other equipment under non-cancelable operating leases, most of which contain renewal options and some of which contain escalation clauses. | ||||
Future lease obligations required under non-cancelable operating leases as of December 31, 2013 were as follows (amounts in thousands): | ||||
Year ended December 31, | ||||
2014 | $ | 5,032 | ||
2015 | 2,987 | |||
2016 | 2,428 | |||
2017 | 2,024 | |||
2018 | 1,082 | |||
Thereafter | 1,366 | |||
$ | 14,919 | |||
Rent expense under operating leases for the years ended December 31, 2013, 2012 and 2011 was $6.0 million, $5.6 million and $3.6 million, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Tax Disclosure [Text Block] | ' | |||||||||||
Income Taxes | ||||||||||||
The jurisdictional components of income (loss) before income taxes consist of the following (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Domestic | $ | (66,147 | ) | $ | 42,194 | $ | 23,396 | |||||
Foreign | 10,369 | 4,192 | (2,563 | ) | ||||||||
Income (loss) before income tax | $ | (55,778 | ) | $ | 46,386 | $ | 20,833 | |||||
The components of our income tax expense (benefit) consist of the following (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current tax: | ||||||||||||
Federal | $ | (380 | ) | $ | 236 | $ | 716 | |||||
State | 879 | 1,214 | 1,090 | |||||||||
Foreign | 2,302 | 1,479 | 1,301 | |||||||||
2,801 | 2,929 | 3,107 | ||||||||||
Deferred taxes: | ||||||||||||
Federal | (21,034 | ) | 15,013 | 7,199 | ||||||||
State | (3,520 | ) | (749 | ) | 102 | |||||||
Foreign | 1,907 | (839 | ) | (752 | ) | |||||||
(22,647 | ) | 13,425 | 6,549 | |||||||||
Income tax expense (benefit) | $ | (19,846 | ) | $ | 16,354 | $ | 9,656 | |||||
The difference between the income tax expense (benefit) and the amount computed by applying the federal statutory income tax rate of 35% to income (loss) before income taxes consists of the following (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Expected tax expense (benefit) | $ | (19,522 | ) | $ | 16,235 | $ | 7,291 | |||||
State income taxes | (1,717 | ) | 302 | 775 | ||||||||
Incentive stock options | 66 | 43 | 41 | |||||||||
Net tax benefits and nondeductible expenses in foreign jurisdictions | 525 | (881 | ) | 1,391 | ||||||||
Nondeductible expenses for tax purposes | 863 | 770 | 567 | |||||||||
Valuation allowance | — | (206 | ) | — | ||||||||
Other, net | (61 | ) | 91 | (409 | ) | |||||||
Income tax expense (benefit) | $ | (19,846 | ) | $ | 16,354 | $ | 9,656 | |||||
Income tax expense (benefit) was allocated as follows (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Results of operations | $ | (19,846 | ) | $ | 16,354 | $ | 9,656 | |||||
Stockholders' equity | 321 | 449 | 254 | |||||||||
Income tax expense (benefit) | $ | (19,525 | ) | $ | 16,803 | $ | 9,910 | |||||
Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements. The components of our deferred income tax assets and liabilities were as follows (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Capital loss carryforward | $ | 1,008 | $ | 1,008 | ||||||||
Intangibles | 36,442 | 19,918 | ||||||||||
Employee benefits and insurance claims accruals | 9,332 | 8,273 | ||||||||||
Accounts receivable reserve | 501 | 370 | ||||||||||
Employee stock-based compensation | 8,905 | 8,225 | ||||||||||
Accrued expenses not deductible for tax purposes | 749 | 1,066 | ||||||||||
Accrued revenue not income for book purposes | 942 | 1,399 | ||||||||||
Federal and state net operating loss and AMT credit carryforward | 94,605 | 69,160 | ||||||||||
Foreign net operating loss carryforward | 3,411 | 5,361 | ||||||||||
155,895 | 114,780 | |||||||||||
Valuation allowance | (1,008 | ) | (1,008 | ) | ||||||||
Total deferred tax assets | 154,887 | 113,772 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Property and equipment | 225,275 | 206,033 | ||||||||||
Total deferred tax liabilities | 225,275 | 206,033 | ||||||||||
Net deferred tax liabilities | $ | 70,388 | $ | 92,261 | ||||||||
In assessing the realizability of deferred tax assets, we consider whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on the expectation of future taxable income and that the deductible temporary differences will offset existing taxable temporary differences, we believe it is more likely than not that we will realize the benefits of these deductible temporary differences, with the exception of the valuation allowance recorded to fully offset our deferred tax asset for a capital loss carryforward related to the unrealized loss on the impairment of our ARPS securities. | ||||||||||||
As of December 31, 2013, we had a $1.0 million deferred tax asset related to the sale of our ARPSs which will represent a capital loss for tax treatment purposes. We can recognize a tax benefit associated with this loss to the extent of capital gains we expect to earn in future periods. We recorded a valuation allowance to fully offset our deferred tax asset relating to this capital loss since we believe capital gains are not likely in future periods. | ||||||||||||
As of December 31, 2013, we had $94.6 million and $3.4 million of deferred tax assets related to domestic and foreign net operating losses, respectively, that are available to reduce future taxable income. In assessing the realizability of our deferred tax assets, we only recognize a tax benefit to the extent of taxable income that we expect to earn in the jurisdiction in future periods. We estimate that our operations will result in taxable income in excess of our net operating losses and we expect to apply the net operating losses against taxable income that we have estimated in future periods. The domestic net operating losses can be used to offset future domestic taxable income through 2033, while the majority of the foreign net operating losses can be carried forward indefinitely. | ||||||||||||
Deferred income taxes have not been provided on the future tax consequences attributable to difference between the financial statements carrying amounts of existing assets and liabilities and the respective tax bases of our foreign subsidiary based on the determination that such differences are essentially permanent in duration in that the earnings of the subsidiary is expected to be indefinitely reinvested in foreign operations. As of December 31, 2013, the cumulative undistributed earnings/loss of the subsidiary was approximately a $18.0 million loss. If earnings were not considered indefinitely reinvested, deferred income taxes would have been recorded after consideration of foreign tax credits. It is not practicable to estimate the amount of additional tax that might be payable on earnings, if distributed. | ||||||||||||
On December 26, 2012, Colombia enacted a tax reform bill that, among other things, decreased the corporate tax rate from 33% to 25%, but also added a new 9% tax for equality, which results in a combined tax rate of 34%. Net operating losses cannot be utilized against the new 9% tax for equality, and therefore the associated deferred tax asset must now be based on the lower 25% corporate tax rate only. Other deferred tax assets and liabilities must now be based on the higher combined tax rate of 34%. Included in our 2012 deferred foreign tax expense (benefit) is a $1.7 million expense to adjust our Colombian net deferred tax assets and liabilities for the change in rates. | ||||||||||||
We have no unrecognized tax benefits relating to ASC Topic 740 and no unrecognized tax benefit activity during the year ended December 31, 2013. | ||||||||||||
We adopted a policy to record interest and penalty expense related to income taxes as interest and other expense, respectively. At December 31, 2013, no interest or penalties have been or are required to be accrued. Our open tax years for our federal income tax returns in the United States are for the years ended December 31, 2010 to 2012. Our open tax years for our income tax returns in Colombia are for the years ended December 31, 2008 to 2012. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Of Financial Instruments | ' | |||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||
ASC Topic 820, Fair Value Measurements and Disclosures, defines fair value and provides a hierarchal framework associated with the level of subjectivity used in measuring assets and liabilities at fair value. | ||||||||||||||||
At December 31, 2013 and December 31, 2012, our financial instruments consist primarily of cash, trade and other receivables, trade payables, and long-term debt. The carrying value of cash, trade and other receivables and trade payables are considered to be representative of their respective fair values due to the short-term nature of these instruments. | ||||||||||||||||
The fair value of our long-term debt is estimated using a discounted cash flow analysis, based on rates that we believe we would currently pay for similar types of debt instruments. This discounted cash flow analysis is based on inputs defined by ASC Topic 820 as level 2 inputs, which are observable inputs for similar types of debt instruments. The following table presents the supplemental fair value information about long-term debt at December 31, 2013 and December 31, 2012 (amounts in thousands): | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Total debt | $ | 502,513 | $ | 538,074 | $ | 519,597 | $ | 565,257 | ||||||||
Earnings_Per_Common_Share
Earnings Per Common Share | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings (loss) Per Common Share | ' | |||||||||||
Earnings Per Common Share | ||||||||||||
The following table presents a reconciliation of the numerators and denominators of the basic income per share and diluted income per share computations (amounts in thousands, except per share data): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Basic | ||||||||||||
Net income (loss) | $ | (35,932 | ) | $ | 30,032 | $ | 11,177 | |||||
Weighted-average shares | 62,213 | 61,780 | 57,390 | |||||||||
Income (loss) per share | $ | (0.58 | ) | $ | 0.49 | $ | 0.19 | |||||
Diluted | ||||||||||||
Net income (loss) | $ | (35,932 | ) | $ | 30,032 | $ | 11,177 | |||||
Weighted average shares: | ||||||||||||
Outstanding | 62,213 | 61,780 | 57,390 | |||||||||
Diluted effect of stock options, restricted stock, | — | 982 | 1,389 | |||||||||
and restricted stock unit awards | ||||||||||||
62,213 | 62,762 | 58,779 | ||||||||||
Income (loss) per share | $ | (0.58 | ) | $ | 0.48 | $ | 0.19 | |||||
Potentially dilutive stock options, restricted stock and restricted stock unit awards representing a total of 5,507,765, 4,311,645 and 2,430,141 shares of common stock for the years ended December 31, 2013, 2012 and 2011, respectively, were excluded from the computation of diluted weighted average shares outstanding due to their antidilutive effect. |
Equity_Transactions_and_StockB
Equity Transactions and Stock-Based Compensation Plans | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Equity Transactions And Stock Based Compensation Plans | ' | |||||||||||
Equity Transactions And Stock-Based Compensation Plans | ' | |||||||||||
Equity Transactions and Stock-Based Compensation Plans | ||||||||||||
Equity Transactions | ||||||||||||
In July 2011, we obtained $94.3 million in net proceeds from the sale of 6,900,000 shares of our common stock at $14.50 per share, less underwriters’ commissions and other offering costs, pursuant to a public offering under the shelf registration statement which we filed in July 2009. | ||||||||||||
In May 2012, we filed a registration statement that permits us to sell equity or debt in one or more offerings up to a total dollar amount of $300 million. As of December 31, 2013, the entire $300 million under the shelf registration statement is available for equity or debt offerings. In the future, we may consider equity or debt offerings, as appropriate, to meet our liquidity needs. | ||||||||||||
Stock-based Compensation Plans | ||||||||||||
We have stock-based award plans that are administered by the Compensation Committee of our Board of Directors, which selects persons eligible to receive awards and determines the number of stock options, restricted stock, or restricted stock units subject to each award and the terms, conditions and other provisions of the awards. At December 31, 2013, the total shares available for future grants to employees and directors under existing plans were 1,182,475, of which no more than 856,866 may be granted in the form of restricted stock or restricted stock unit awards. | ||||||||||||
We grant stock option and restricted stock awards with vesting based on time of service conditions. We also grant restricted stock unit awards with vesting based on time of service conditions, and in certain cases, subject to performance and market conditions. We recognize compensation cost for stock option, restricted stock and restricted stock unit awards based on the fair value estimated in accordance with ASC Topic 718, Compensation—Stock Compensation. For our awards with graded vesting, we recognize compensation expense on a straight-line basis over the service period for each separately vesting portion of the award as if the award was, in substance, multiple awards. | ||||||||||||
The following table summarizes the compensation expense recognized for stock option, restricted stock and restricted stock unit awards during the years ended December 31, 2013, 2012 and 2011 (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Stock option awards | $ | 1,771 | $ | 2,962 | $ | 3,720 | ||||||
Restricted stock awards | 576 | 628 | 1,030 | |||||||||
Restricted stock unit awards | 4,024 | 3,729 | 1,955 | |||||||||
$ | 6,371 | $ | 7,319 | $ | 6,705 | |||||||
Stock Options | ||||||||||||
We grant stock option awards which generally become exercisable over a three-year period and expire ten years after the date of grant. Our stock-based compensation plans require that all stock option awards have an exercise price that is not less than the fair market value of our common stock on the date of grant. We issue shares of our common stock when vested stock option awards are exercised. | ||||||||||||
We estimate the fair value of each option grant on the date of grant using a Black-Scholes option pricing model. The following table summarizes the assumptions used in the Black-Scholes option pricing model based on a weighted-average calculation for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Expected volatility | 66 | % | 70 | % | 65 | % | ||||||
Risk-free interest rates | 1 | % | 0.8 | % | 1.5 | % | ||||||
Expected life in years | 5.53 | 5.12 | 4.33 | |||||||||
Grant-date fair value | $4.36 | $5.02 | $4.69 | |||||||||
The assumptions used in the Black-Scholes option pricing model are based on multiple factors, including historical exercise patterns of homogeneous groups with respect to exercise and post-vesting employment termination behaviors, expected future exercising patterns for these same homogeneous groups and volatility of our stock price. As we have not declared dividends since we became a public company, we did not use a dividend yield. In each case, the actual value that will be realized, if any, will depend on the future performance of our common stock and overall stock market conditions. There is no assurance the value an optionee actually realizes will be at or near the value we have estimated using the Black-Scholes options-pricing model. | ||||||||||||
The following table represents stock option activity from December 31, 2011 through December 31, 2013: | ||||||||||||
Number of | Weighted-Average | Weighted-Average | ||||||||||
Shares | Exercise Price | Remaining Contract | ||||||||||
Per Share | Life in Years | |||||||||||
Outstanding stock options as of December 31, 2011 | 5,563,348 | $10.20 | ||||||||||
Granted | 530,156 | 8.72 | ||||||||||
Forfeited | -271,097 | 13.6 | ||||||||||
Exercised | -172,416 | 4.02 | ||||||||||
Outstanding stock options as of December 31, 2012 | 5,649,991 | $10.09 | ||||||||||
Granted | 220,656 | 7.58 | ||||||||||
Forfeited | -67,500 | 16.02 | ||||||||||
Exercised | -270,934 | 4.67 | ||||||||||
Outstanding stock options as of December 31, 2013 | 5,532,213 | $10.18 | 5.1 | |||||||||
Stock options exercisable as of December 31, 2013 | 4,775,172 | $10.45 | 4.6 | |||||||||
At December 31, 2013, the aggregate intrinsic value of stock options outstanding was $4.9 million and the aggregate intrinsic value of stock options exercisable was $4.8 million. Intrinsic value is the difference between the exercise price of a stock option and the closing market price of our common stock, which was $8.01 on December 31, 2013. | ||||||||||||
The following table summarizes our nonvested stock option activity from December 31, 2011 through December 31, 2013: | ||||||||||||
Number of | Weighted-Average Grant-Date | |||||||||||
Shares | Fair Value Per Share | |||||||||||
Nonvested stock options as of December 31, 2011 | 1,531,237 | $3.98 | ||||||||||
Granted | 530,156 | 5.02 | ||||||||||
Vested | -901,817 | 3.42 | ||||||||||
Forfeited | -28,732 | 4.74 | ||||||||||
Nonvested stock options as of December 31, 2012 | 1,130,844 | $4.89 | ||||||||||
Granted | 220,656 | 4.36 | ||||||||||
Vested | -594,459 | 4.88 | ||||||||||
Nonvested stock options as of December 31, 2013 | 757,041 | $4.74 | ||||||||||
At December 31, 2013, there was $0.8 million of unrecognized compensation cost relating to stock options which is expected to be recognized over a weighted-average period of 0.6 years. | ||||||||||||
In January 2014, our Board of Directors approved the grant of stock options representing 221,440 shares of common stock to officers and employees that will vest over a three-year period. | ||||||||||||
Restricted Stock | ||||||||||||
Historically, we have generally granted restricted stock awards that vest over a three-year period with a fair value based on the closing price of our common stock on the date of the grant. However, beginning in 2013, we began granting restricted stock awards with a vesting period of one year. When restricted stock awards are granted, or when restricted stock unit awards are converted to restricted stock, shares of our common stock are considered issued, but subject to certain restrictions. | ||||||||||||
The following table summarizes our restricted stock activity from December 31, 2011 through December 31, 2013: | ||||||||||||
Number of | Weighted-Average | |||||||||||
Shares | Grant-Date | |||||||||||
Fair Value per Share | ||||||||||||
Nonvested restricted stock as of December 31, 2011 | 281,836 | $7.18 | ||||||||||
Granted | 49,748 | 8.04 | ||||||||||
Vested | -184,081 | 6.21 | ||||||||||
Forfeited | -4,683 | 8.86 | ||||||||||
Nonvested restricted stock as of December 31, 2012 | 142,820 | $8.67 | ||||||||||
Granted | 61,248 | 7.51 | ||||||||||
Vested | -98,864 | 8.47 | ||||||||||
Nonvested restricted stock as of December 31, 2013 | 105,204 | $8.18 | ||||||||||
At December 31, 2013, there was $0.3 million of unrecognized compensation cost relating to restricted stock awards which is expected to be recognized over a weighted-average period of 0.5 years. | ||||||||||||
Restricted Stock Units | ||||||||||||
We grant restricted stock unit awards with vesting based on time of service conditions only (“time-based RSUs”), and we grant restricted stock unit awards with vesting based on time of service, which are also subject to performance and market conditions (“performance-based RSUs”). Shares of our common stock are issued to recipients of restricted stock units only when they have satisfied the applicable vesting conditions. | ||||||||||||
Our time-based RSUs generally vest over a three-year period, with fair values based on the closing price of our common stock on the date of grant. | ||||||||||||
Our performance-based RSUs generally cliff vest after 39 months from the date of grant and are granted at a target number of issuable shares, for which the final number of shares of common stock is adjusted based on our actual achievement levels that are measured against predetermined performance conditions. The number of shares of common stock awarded will be based upon the Company’s achievement in certain performance conditions, as compared to a predefined peer group, over the performance period, generally three years. | ||||||||||||
Approximately one-third of the performance-based RSUs are subject to a market condition, based on total shareholder return, and therefore the fair value of these awards is measured using a Monte Carlo simulation model. Compensation expense for awards with a market condition is reduced only for estimated forfeitures; no adjustment to expense is otherwise made, regardless of the number of shares issued, if any. The remaining two-thirds of the performance-based RSUs are subject to performance conditions, based on EBITDA and return on capital employed, and therefore the fair value is based on the closing price of our common stock on the date of grant, applied to the estimated number of shares that will be awarded. Compensation expense ultimately recognized for awards with performance conditions will be equal to the fair value of the restricted stock unit award based on the actual outcome of the service and performance conditions. | ||||||||||||
As of December 31, 2013, we estimated that our actual achievement level for the performance-based RSUs granted during 2011, 2012 and 2013 will be approximately 120%, 110% and 100% of the predetermined performance conditions, respectively. Therefore, the outstanding 673,762 restricted stock units would be adjusted to represent 721,751 shares of our common stock if these achievement levels are maintained through the applicable performance periods. | ||||||||||||
The following table summarizes our restricted stock unit activity from December 31, 2011 through December 31, 2013: | ||||||||||||
Time-Based Award | Performance-Based Award | |||||||||||
Number of | Weighted-Average | Number of | Weighted-Average | |||||||||
Time-Based | Grant-Date | Performance-Based | Grant-Date | |||||||||
Award Units | Fair Value | Award Units | Fair Value | |||||||||
per Unit | per Unit | |||||||||||
Nonvested restricted stock units as of December 31, 2011 | 272,951 | $10.76 | 139,089 | $10.23 | ||||||||
Granted | 356,813 | 8.21 | 221,495 | 9.85 | ||||||||
Vested | -72,259 | 10.07 | — | — | ||||||||
Forfeited | -25,979 | 10.34 | -5,533 | 10.23 | ||||||||
Nonvested restricted stock units as of December 31, 2012 | 531,526 | $9.16 | 355,051 | $9.99 | ||||||||
Granted | 406,027 | 7.59 | 346,731 | 8.34 | ||||||||
Vested | -254,629 | 9.82 | — | — | ||||||||
Forfeited | -55,212 | 8.6 | -28,020 | 8.81 | ||||||||
Nonvested restricted stock units as of December 31, 2013 | 627,712 | $7.93 | 673,762 | $9.19 | ||||||||
At December 31, 2013, there was $4.8 million of unrecognized compensation cost relating to restricted stock unit awards which is expected to be recognized over a weighted-average period of 1.3 years. | ||||||||||||
In January 2014, our Board of Directors approved the grant of restricted stock units representing 669,051 shares of common stock to officers and employees that will vest over a three-year period. |
Employee_Benefit_Plans_and_Ins
Employee Benefit Plans and Insurance | 12 Months Ended | |
Dec. 31, 2013 | ||
Employee Benefit Plans and Insurance [Abstract] | ' | |
Compensation, Employee Benefit Plans and Insurance [Text Block] | ' | |
10 | Employee Benefit Plans and Insurance | |
We maintain a 401(k) retirement plan for our eligible employees. Under this plan, we may make a matching contribution, on a discretionary basis, equal to a percentage of each eligible employee’s annual contribution, which we determine annually. Our matching contributions for the years ended December 31, 2013, 2012 and 2011 were $6.0 million, $4.6 million and $2.6 million, respectively. | ||
We maintain a self-insurance program, for major medical and hospitalization coverage for employees and their dependents, which is partially funded by employee payroll deductions. We have provided for reported claims costs as well as incurred but not reported medical costs in the accompanying consolidated balance sheets. We have a maximum liability of $150,000 per covered individual per year. Amounts in excess of the stated maximum are covered under a separate policy provided by an insurance company. Insurance premiums and deductibles accruals at December 31, 2013 and 2012 include $3.1 million and $2.5 million, respectively, for our estimate of incurred but unpaid costs related to the self-insurance portion of our health insurance. | ||
We are self-insured for up to $500,000 per incident for all workers’ compensation claims submitted by employees for on-the-job injuries. We have a deductible of $250,000 per occurrence under both our general liability insurance and auto liability insurance. We accrue our workers’ compensation claim cost estimates based on historical claims development data and we accrue the cost of administrative services associated with claims processing. Insurance premiums and deductibles accruals at December 31, 2013 and 2012 include $7.3 million and $6.1 million, respectively, for our estimate of costs relative to the self-insured portion of our workers’ compensation, general liability and auto liability insurance. Based upon our past experience, management believes that we have adequately provided for potential losses. However, future multiple occurrences of serious injuries to employees could have a material adverse effect on our financial position and results of operations. |
Segment_Information
Segment Information | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
Segment Information | ||||||||||||||||
We have two operating segments referred to as the Drilling Services Segment and the Production Services Segment which is the basis management uses for making operating decisions and assessing performance. | ||||||||||||||||
Drilling Services Segment—Our Drilling Services Segment provides contract land drilling services to a diverse group of oil and gas exploration and production companies with its fleet of 62 drilling rigs which are currently assigned to the following divisions: | ||||||||||||||||
Drilling Division | Rig Count | |||||||||||||||
South Texas | 14 | |||||||||||||||
West Texas | 18 | |||||||||||||||
North Dakota | 11 | |||||||||||||||
Utah | 7 | |||||||||||||||
Appalachia | 4 | |||||||||||||||
Colombia | 8 | |||||||||||||||
62 | ||||||||||||||||
Production Services Segment—Our Production Services Segment provides a range of services to exploration and production companies, including well servicing, wireline services, coiled tubing services, and fishing and rental services. Our production services operations are concentrated in the major United States onshore oil and gas producing regions in the Mid-Continent and Rocky Mountain states and in the Gulf Coast, both onshore and offshore. As of December 31, 2013, we have a fleet of 109 well servicing rigs consisting of ninety-nine 550 horsepower rigs and ten 600 horsepower rigs. We provide wireline services and coiled tubing services with a fleet of 119 wireline units and 13 coiled tubing units, and we provide rental services with a gross book value of $17.3 million in fishing and rental tools. | ||||||||||||||||
The following tables set forth certain financial information for our two operating segments and corporate as of and for the years ending December 31, 2013, 2012 and 2011 (amounts in thousands): | ||||||||||||||||
As of and for the year ended December 31, 2013 | ||||||||||||||||
Drilling | Production | Corporate | Total | |||||||||||||
Services | Services | |||||||||||||||
Segment | Segment | |||||||||||||||
Identifiable assets | $ | 791,820 | $ | 395,219 | $ | 42,584 | $ | 1,229,623 | ||||||||
Revenues | $ | 528,327 | $ | 431,859 | $ | — | $ | 960,186 | ||||||||
Operating costs | 351,630 | 276,808 | — | 628,438 | ||||||||||||
Segment margin | $ | 176,697 | $ | 155,051 | $ | — | $ | 331,748 | ||||||||
Depreciation and amortization | $ | 122,201 | $ | 64,604 | $ | 1,113 | $ | 187,918 | ||||||||
Capital expenditures | $ | 78,708 | $ | 44,541 | $ | 2,171 | $ | 125,420 | ||||||||
As of and for the year ended December 31, 2012 | ||||||||||||||||
Drilling | Production | Corporate | Total | |||||||||||||
Services | Services | |||||||||||||||
Segment | Segment | |||||||||||||||
Identifiable assets | $ | 867,526 | $ | 439,113 | $ | 33,137 | $ | 1,339,776 | ||||||||
Revenues | $ | 498,867 | $ | 420,576 | $ | — | $ | 919,443 | ||||||||
Operating costs | 333,846 | 252,775 | — | 586,621 | ||||||||||||
Segment margin | $ | 165,021 | $ | 167,801 | $ | — | $ | 332,822 | ||||||||
Depreciation and amortization | $ | 108,151 | $ | 55,693 | $ | 873 | $ | 164,717 | ||||||||
Capital expenditures | $ | 265,966 | $ | 110,813 | $ | 2,493 | $ | 379,272 | ||||||||
As of and for the year ended December 31, 2011 | ||||||||||||||||
Drilling | Production | Corporate | Total | |||||||||||||
Services | Services | |||||||||||||||
Segment | Segment | |||||||||||||||
Identifiable assets | $ | 667,588 | $ | 398,128 | $ | 107,038 | $ | 1,172,754 | ||||||||
Revenues | $ | 433,902 | $ | 282,039 | $ | — | $ | 715,941 | ||||||||
Operating costs | 292,559 | 164,365 | — | 456,924 | ||||||||||||
Segment margin | $ | 141,343 | $ | 117,674 | $ | — | $ | 259,017 | ||||||||
Depreciation and amortization | $ | 99,302 | $ | 32,683 | $ | 847 | $ | 132,832 | ||||||||
Capital expenditures | $ | 168,120 | $ | 68,908 | $ | 759 | $ | 237,787 | ||||||||
The following table reconciles the segment profits reported above to income from operations as reported on the consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011 (amounts in thousands): | ||||||||||||||||
Year ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Segment margin | $ | 331,748 | $ | 332,822 | $ | 259,017 | ||||||||||
Depreciation and amortization | (187,918 | ) | (164,717 | ) | (132,832 | ) | ||||||||||
General and administrative | (95,000 | ) | (85,603 | ) | (67,318 | ) | ||||||||||
Bad debt recovery (expense) | (767 | ) | 440 | (925 | ) | |||||||||||
Impairment charges | (54,292 | ) | (1,131 | ) | (484 | ) | ||||||||||
Income (loss) from operations | $ | (6,229 | ) | $ | 81,811 | $ | 57,458 | |||||||||
The following table sets forth certain financial information for our international operations in Colombia as of and for the years ended December 31, 2013, 2012 and 2011 (amounts in thousands): | ||||||||||||||||
As of and for the year ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Identifiable assets | $ | 150,719 | $ | 148,567 | $ | 151,448 | ||||||||||
Revenues | $ | 115,631 | $ | 95,338 | $ | 109,539 | ||||||||||
Identifiable assets for our international operations in Colombia include five drilling rigs that are owned by our Colombia subsidiary and three drilling rigs that are owned by one of our domestic subsidiaries and leased to our Colombia subsidiary. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments And Contingencies | ' |
Commitments and Contingencies | |
In connection with our operations in Colombia, our foreign subsidiaries have obtained bonds for bidding on drilling contracts, performing under drilling contracts, and remitting customs and importation duties. We have guaranteed payments of $60.4 million relating to our performance under these bonds as of December 31, 2013. | |
Due to the nature of our business, we are, from time to time, involved in litigation or subject to disputes or claims related to our business activities, including workers’ compensation claims and employment-related disputes. Legal costs relating to these matters are expensed as incurred. In the opinion of our management, none of the pending litigation, disputes or claims against us will have a material adverse effect on our financial condition, results of operations or cash flow from operations. |
Quarterly_Results_of_Operation
Quarterly Results of Operations (unaudited) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Quarterly Results of Operations (unaudited) [Abstract] | ' | |||||||||||||||||||
Quarterly Financial Information [Text Block] | ' | |||||||||||||||||||
Quarterly Results of Operations (unaudited) | ||||||||||||||||||||
The following table summarizes quarterly financial data for the years ended December 31, 2013 and 2012 (in thousands, except per share data): | ||||||||||||||||||||
First | Second | Third | Fourth | Total | ||||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||
Revenues | $ | 229,670 | $ | 248,354 | $ | 243,979 | $ | 238,183 | $ | 960,186 | ||||||||||
Income (loss) from operations | 10,445 | (27,268 | ) | 1,870 | 8,724 | (6,229 | ) | |||||||||||||
Income tax (expense) benefit | 546 | 14,953 | 3,614 | 733 | 19,846 | |||||||||||||||
Net income (loss) | (1,292 | ) | (25,895 | ) | (6,230 | ) | (2,515 | ) | (35,932 | ) | ||||||||||
Earnings (loss) per share: | ||||||||||||||||||||
Basic | $ | (0.02 | ) | $ | (0.42 | ) | $ | (0.10 | ) | $ | (0.04 | ) | $ | (0.58 | ) | |||||
Diluted | $ | (0.02 | ) | $ | (0.42 | ) | $ | (0.10 | ) | $ | (0.04 | ) | $ | (0.58 | ) | |||||
Year ended December 31, 2012 | ||||||||||||||||||||
Revenues | $ | 231,978 | $ | 229,824 | $ | 229,773 | $ | 227,868 | $ | 919,443 | ||||||||||
Income from operations | 29,748 | 23,312 | 13,222 | 15,529 | 81,811 | |||||||||||||||
Income tax (expense) benefit | (6,953 | ) | (5,997 | ) | (1,461 | ) | (1,943 | ) | (16,354 | ) | ||||||||||
Net income (loss) | 14,172 | 9,685 | 2,615 | 3,560 | 30,032 | |||||||||||||||
Earnings (loss) per share: | ||||||||||||||||||||
Basic | $ | 0.23 | $ | 0.16 | $ | 0.04 | $ | 0.06 | $ | 0.49 | ||||||||||
Diluted | $ | 0.23 | $ | 0.15 | $ | 0.04 | $ | 0.06 | $ | 0.48 | ||||||||||
GuarantorNonGuarantor_Condense
Guarantor/Non-Guarantor Condensed Consolidated Financial Statements | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Guarantor Non-Guarantor Condensed Consolidated Financial Statements | ' | |||||||||||||||||||
Guarantor/Non-Guarantor Condensed Consolidated Financial Statements | ' | |||||||||||||||||||
Guarantor/Non-Guarantor Condensed Consolidated Financial Statements | ||||||||||||||||||||
Our Senior Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by all existing domestic subsidiaries, except for Pioneer Services Holdings, LLC, and certain of our future domestic subsidiaries. Effective October 1, 2012, the Indenture was supplemented to add Pioneer Coiled Tubing Services, LLC (formerly Go-Coil, L.L.C.) as a subsidiary guarantor. The subsidiaries that generally operate our non-U.S. business concentrated in Colombia do not guarantee our Senior Notes. The non-guarantor subsidiaries do not have any payment obligations under the Senior Notes, the guarantees or the Indenture. | ||||||||||||||||||||
In the event of a bankruptcy, liquidation or reorganization of any non-guarantor subsidiary, such non-guarantor subsidiary will pay the holders of its debt and other liabilities, including its trade creditors, before it will be able to distribute any of its assets to us. In the future, any non-U.S. subsidiaries, immaterial subsidiaries and subsidiaries that we designate as unrestricted subsidiaries under the Indenture will not guarantee the Senior Notes. As of December 31, 2013, there were no restrictions on the ability of subsidiary guarantors to transfer funds to the parent company. | ||||||||||||||||||||
As a result of the guarantee arrangements, we are presenting the following condensed consolidated balance sheets, statements of operations and statements of cash flows of the issuer, the guarantor subsidiaries and the non-guarantor subsidiaries. | ||||||||||||||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||||||||||
(Unaudited, in thousands) | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 28,368 | $ | (2,059 | ) | $ | 1,076 | $ | — | $ | 27,385 | |||||||||
Receivables, net of allowance | 905 | 125,979 | 49,476 | — | 176,360 | |||||||||||||||
Intercompany receivable (payable) | (24,837 | ) | 52,671 | (27,834 | ) | — | — | |||||||||||||
Deferred income taxes | 1,143 | 8,005 | 3,944 | — | 13,092 | |||||||||||||||
Inventory | — | 7,415 | 5,817 | — | 13,232 | |||||||||||||||
Prepaid expenses and other current assets | 1,013 | 7,094 | 1,204 | — | 9,311 | |||||||||||||||
Total current assets | 6,592 | 199,105 | 33,683 | — | 239,380 | |||||||||||||||
Net property and equipment | 4,531 | 846,632 | 87,244 | (750 | ) | 937,657 | ||||||||||||||
Investment in subsidiaries | 939,091 | 120,630 | — | (1,059,721 | ) | — | ||||||||||||||
Intangible assets, net of accumulated amortization | 75 | 32,194 | — | — | 32,269 | |||||||||||||||
Noncurrent deferred income taxes | 78,486 | — | 1,156 | (78,486 | ) | 1,156 | ||||||||||||||
Other long-term assets | 7,513 | 2,009 | 9,639 | — | 19,161 | |||||||||||||||
Total assets | $ | 1,036,288 | $ | 1,200,570 | $ | 131,722 | $ | (1,138,957 | ) | $ | 1,229,623 | |||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Accounts payable | $ | 757 | $ | 37,797 | $ | 5,164 | — | $ | 43,718 | |||||||||||
Current portion of long-term debt | — | 2,847 | — | — | 2,847 | |||||||||||||||
Deferred revenues | — | 699 | — | — | 699 | |||||||||||||||
Accrued expenses | 16,368 | 51,739 | 5,462 | — | 73,569 | |||||||||||||||
Total current liabilities | 17,125 | 93,082 | 10,626 | — | 120,833 | |||||||||||||||
Long-term debt, less current portion | 499,586 | 80 | — | — | 499,666 | |||||||||||||||
Noncurrent deferred income taxes | — | 163,122 | — | (78,486 | ) | 84,636 | ||||||||||||||
Other long-term liabilities | 394 | 5,195 | 466 | — | 6,055 | |||||||||||||||
Total liabilities | 517,105 | 261,479 | 11,092 | (78,486 | ) | 711,190 | ||||||||||||||
Total shareholders’ equity | 519,183 | 939,091 | 120,630 | (1,060,471 | ) | 518,433 | ||||||||||||||
Total liabilities and shareholders’ equity | $ | 1,036,288 | $ | 1,200,570 | $ | 131,722 | $ | (1,138,957 | ) | $ | 1,229,623 | |||||||||
December 31, 2012 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 18,479 | $ | (5,401 | ) | $ | 10,655 | $ | — | $ | 23,733 | |||||||||
Receivables, net of allowance | 440 | 129,570 | 29,128 | (294 | ) | 158,844 | ||||||||||||||
Intercompany receivable (payable) | (124,516 | ) | 146,652 | (22,136 | ) | — | — | |||||||||||||
Deferred income taxes | 869 | 8,162 | 2,027 | — | 11,058 | |||||||||||||||
Inventory | — | 5,956 | 6,155 | — | 12,111 | |||||||||||||||
Prepaid expenses and other current assets | 655 | 9,163 | 3,222 | — | 13,040 | |||||||||||||||
Total current assets | (104,073 | ) | 294,102 | 29,051 | (294 | ) | 218,786 | |||||||||||||
Net property and equipment | 3,474 | 921,393 | 90,223 | (750 | ) | 1,014,340 | ||||||||||||||
Investment in subsidiaries | 1,122,814 | 114,416 | — | (1,237,230 | ) | — | ||||||||||||||
Intangible assets, net of accumulated amortization | 68 | 43,775 | — | — | 43,843 | |||||||||||||||
Goodwill | — | 41,683 | — | — | 41,683 | |||||||||||||||
Noncurrent deferred income taxes | 51,834 | — | 5,519 | (51,834 | ) | 5,519 | ||||||||||||||
Other long-term assets | 9,582 | 2,340 | 3,683 | — | 15,605 | |||||||||||||||
Total assets | $ | 1,083,699 | $ | 1,417,709 | $ | 128,476 | $ | (1,290,108 | ) | $ | 1,339,776 | |||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Accounts payable | $ | 1,558 | $ | 76,828 | $ | 5,437 | $ | — | $ | 83,823 | ||||||||||
Current portion of long-term debt | — | 872 | — | — | 872 | |||||||||||||||
Deferred revenues | — | 1,954 | 1,926 | — | 3,880 | |||||||||||||||
Accrued expenses | 14,905 | 48,892 | 4,472 | (294 | ) | 67,975 | ||||||||||||||
Total current liabilities | 16,463 | 128,546 | 11,835 | (294 | ) | 156,550 | ||||||||||||||
Long-term debt, less current portion | 518,618 | 107 | — | — | 518,725 | |||||||||||||||
Noncurrent deferred income taxes | (4 | ) | 160,676 | — | (51,834 | ) | 108,838 | |||||||||||||
Other long-term liabilities | 192 | 5,566 | 2,225 | — | 7,983 | |||||||||||||||
Total liabilities | 535,269 | 294,895 | 14,060 | (52,128 | ) | 792,096 | ||||||||||||||
Total shareholders’ equity | 548,430 | 1,122,814 | 114,416 | (1,237,980 | ) | 547,680 | ||||||||||||||
Total liabilities and shareholders’ equity | $ | 1,083,699 | $ | 1,417,709 | $ | 128,476 | $ | (1,290,108 | ) | $ | 1,339,776 | |||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||||||
(Unaudited, in thousands) | ||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Revenues | $ | — | $ | 844,555 | $ | 115,631 | $ | — | $ | 960,186 | ||||||||||
Costs and expenses: | ||||||||||||||||||||
Operating costs | — | 547,528 | 80,910 | — | 628,438 | |||||||||||||||
Depreciation and amortization | 1,113 | 173,516 | 13,289 | — | 187,918 | |||||||||||||||
General and administrative | 25,272 | 66,779 | 3,501 | (552 | ) | 95,000 | ||||||||||||||
Intercompany leasing | — | (4,860 | ) | 4,860 | — | — | ||||||||||||||
Bad debt expense (recovery) | 67 | 700 | — | — | 767 | |||||||||||||||
Impairment charges | — | 54,292 | — | — | 54,292 | |||||||||||||||
Total costs and expenses | 26,452 | 837,955 | 102,560 | (552 | ) | 966,415 | ||||||||||||||
Income (loss) from operations | (26,452 | ) | 6,600 | 13,071 | 552 | (6,229 | ) | |||||||||||||
Other (expense) income: | ||||||||||||||||||||
Equity in earnings of subsidiaries | 11,861 | 6,260 | — | (18,121 | ) | — | ||||||||||||||
Interest expense | (48,302 | ) | (37 | ) | 29 | — | (48,310 | ) | ||||||||||||
Other | 9 | 1,990 | (2,686 | ) | (552 | ) | (1,239 | ) | ||||||||||||
Total other (expense) income | (36,432 | ) | 8,213 | (2,657 | ) | (18,673 | ) | (49,549 | ) | |||||||||||
Income (loss) before income taxes | (62,884 | ) | 14,813 | 10,414 | (18,121 | ) | (55,778 | ) | ||||||||||||
Income tax (expense) benefit | 26,952 | (2,952 | ) | (4,154 | ) | — | 19,846 | |||||||||||||
Net income (loss) | $ | (35,932 | ) | $ | 11,861 | $ | 6,260 | $ | (18,121 | ) | $ | (35,932 | ) | |||||||
Year ended December 31, 2012 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Revenues | $ | — | $ | 779,163 | $ | 140,280 | $ | — | $ | 919,443 | ||||||||||
Costs and expenses: | ||||||||||||||||||||
Operating costs | — | 485,342 | 101,279 | — | 586,621 | |||||||||||||||
Depreciation and amortization | 873 | 142,972 | 20,872 | — | 164,717 | |||||||||||||||
General and administrative | 22,212 | 54,715 | 9,228 | (552 | ) | 85,603 | ||||||||||||||
Intercompany leasing | — | (4,860 | ) | 4,860 | — | — | ||||||||||||||
Bad debt expense (recovery) | — | (612 | ) | 172 | — | (440 | ) | |||||||||||||
Impairment charges | — | 1,131 | — | — | 1,131 | |||||||||||||||
Total costs and expenses | 23,085 | 678,688 | 136,411 | (552 | ) | 837,632 | ||||||||||||||
Income (loss) from operations | (23,085 | ) | 100,475 | 3,869 | 552 | 81,811 | ||||||||||||||
Other (expense) income: | ||||||||||||||||||||
Equity in earnings of subsidiaries | 68,352 | 4,029 | — | (72,381 | ) | — | ||||||||||||||
Interest expense | (37,011 | ) | (59 | ) | 21 | — | (37,049 | ) | ||||||||||||
Other | 268 | 940 | 968 | (552 | ) | 1,624 | ||||||||||||||
Total other (expense) income | 31,609 | 4,910 | 989 | (72,933 | ) | (35,425 | ) | |||||||||||||
Income (loss) before income taxes | 8,524 | 105,385 | 4,858 | (72,381 | ) | 46,386 | ||||||||||||||
Income tax (expense) benefit | 21,508 | (37,033 | ) | (829 | ) | — | (16,354 | ) | ||||||||||||
Net income (loss) | $ | 30,032 | $ | 68,352 | $ | 4,029 | $ | (72,381 | ) | $ | 30,032 | |||||||||
Year ended December 31, 2011 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Revenues | $ | — | $ | 606,402 | $ | 109,539 | $ | — | $ | 715,941 | ||||||||||
Costs and expenses: | ||||||||||||||||||||
Operating costs | — | 372,945 | 83,979 | — | 456,924 | |||||||||||||||
Depreciation and amortization | 847 | 119,520 | 12,465 | — | 132,832 | |||||||||||||||
General and administrative | 19,797 | 45,152 | 2,921 | (552 | ) | 67,318 | ||||||||||||||
Intercompany leasing | — | (4,860 | ) | 4,857 | 3 | — | ||||||||||||||
Bad debt expense (recovery) | — | 925 | — | — | 925 | |||||||||||||||
Impairment of equipment | — | 484 | — | — | 484 | |||||||||||||||
Total costs and expenses | 20,644 | 534,166 | 104,222 | (549 | ) | 658,483 | ||||||||||||||
Income (loss) from operations | (20,644 | ) | 72,236 | 5,317 | 549 | 57,458 | ||||||||||||||
Other (expense) income: | ||||||||||||||||||||
Equity in earnings of subsidiaries | 43,182 | (2,982 | ) | — | (40,200 | ) | — | |||||||||||||
Interest expense | (29,497 | ) | (248 | ) | 24 | — | (29,721 | ) | ||||||||||||
Other | 311 | 1,163 | (7,829 | ) | (549 | ) | (6,904 | ) | ||||||||||||
Total other (expense) income | 13,996 | (2,067 | ) | (7,805 | ) | (40,749 | ) | (36,625 | ) | |||||||||||
Income (loss) before income taxes | (6,648 | ) | 70,169 | (2,488 | ) | (40,200 | ) | 20,833 | ||||||||||||
Income tax expense (benefit) | 17,825 | (26,987 | ) | (494 | ) | — | (9,656 | ) | ||||||||||||
Net income (loss) | $ | 11,177 | $ | 43,182 | $ | (2,982 | ) | $ | (40,200 | ) | $ | 11,177 | ||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||||||
(Unaudited, in thousands) | ||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Cash flows from operating activities | $ | 31,908 | $ | 142,225 | $ | 447 | $ | 174,580 | ||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Purchases of property and equipment | (2,649 | ) | (151,363 | ) | (11,344 | ) | (165,356 | ) | ||||||||||||
Proceeds from sale of property and equipment | 8 | 12,510 | 1,318 | 13,836 | ||||||||||||||||
Proceeds from insurance recoveries | — | 844 | — | 844 | ||||||||||||||||
(2,641 | ) | (138,009 | ) | (10,026 | ) | (150,676 | ) | |||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Debt repayments | (60,000 | ) | (874 | ) | — | (60,874 | ) | |||||||||||||
Proceeds from issuance of debt | 40,000 | — | — | 40,000 | ||||||||||||||||
Debt issuance costs | (13 | ) | — | — | (13 | ) | ||||||||||||||
Proceeds from exercise of options | 1,266 | — | — | 1,266 | ||||||||||||||||
Purchase of treasury stock | (631 | ) | — | — | (631 | ) | ||||||||||||||
(19,378 | ) | (874 | ) | — | (20,252 | ) | ||||||||||||||
Net increase (decrease) in cash and cash equivalents | 9,889 | 3,342 | (9,579 | ) | 3,652 | |||||||||||||||
Beginning cash and cash equivalents | 18,479 | (5,401 | ) | 10,655 | 23,733 | |||||||||||||||
Ending cash and cash equivalents | $ | 28,368 | $ | (2,059 | ) | $ | 1,076 | $ | 27,385 | |||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Cash flows from operating activities | $ | (171,541 | ) | $ | 338,418 | $ | 32,489 | $ | 199,366 | |||||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Purchases of property and equipment | (2,187 | ) | (332,082 | ) | (30,055 | ) | (364,324 | ) | ||||||||||||
Proceeds from sale of property and equipment | — | 2,998 | 95 | 3,093 | ||||||||||||||||
(2,187 | ) | (329,084 | ) | (29,960 | ) | (361,231 | ) | |||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Debt repayments | — | (856 | ) | (18 | ) | (874 | ) | |||||||||||||
Proceeds from issuance of debt | 100,000 | — | — | 100,000 | ||||||||||||||||
Debt issuance costs | (58 | ) | — | — | (58 | ) | ||||||||||||||
Proceeds from exercise of options | 693 | — | — | 693 | ||||||||||||||||
Purchase of treasury stock | (360 | ) | — | — | (360 | ) | ||||||||||||||
100,275 | (856 | ) | (18 | ) | 99,401 | |||||||||||||||
Net increase (decrease) in cash and cash equivalents | (73,453 | ) | 8,478 | 2,511 | (62,464 | ) | ||||||||||||||
Beginning cash and cash equivalents | 91,932 | (13,879 | ) | 8,144 | 86,197 | |||||||||||||||
Ending cash and cash equivalents | $ | 18,479 | $ | (5,401 | ) | $ | 10,655 | $ | 23,733 | |||||||||||
Year ended December 31, 2011 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Cash flows from operating activities | $ | (164,032 | ) | $ | 300,198 | $ | 8,713 | $ | 144,879 | |||||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Acquisition of production services business of Go-Coil | — | (109,035 | ) | — | (109,035 | ) | ||||||||||||||
Acquisition of other production services businesses | — | (6,502 | ) | — | (6,502 | ) | ||||||||||||||
Purchases of property and equipment | (485 | ) | (200,887 | ) | (8,694 | ) | (210,066 | ) | ||||||||||||
Proceeds from sale of property and equipment | 7 | 5,532 | 11 | 5,550 | ||||||||||||||||
Proceeds from sale of auction rate securities | 12,569 | — | — | 12,569 | ||||||||||||||||
12,091 | (310,892 | ) | (8,683 | ) | (307,484 | ) | ||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Debt repayments | (111,813 | ) | (1,345 | ) | — | (113,158 | ) | |||||||||||||
Proceeds from issuance of debt | 250,750 | — | — | 250,750 | ||||||||||||||||
Debt issuance costs | (7,285 | ) | — | — | (7,285 | ) | ||||||||||||||
Proceeds from exercise of options | 2,884 | — | — | 2,884 | ||||||||||||||||
Proceeds from common stock, net of offering costs of $5,707 | 94,343 | — | — | 94,343 | ||||||||||||||||
Purchase of treasury stock | (743 | ) | — | — | (743 | ) | ||||||||||||||
228,136 | (1,345 | ) | — | 226,791 | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 76,195 | (12,039 | ) | 30 | 64,186 | |||||||||||||||
Beginning cash and cash equivalents | 15,737 | (1,840 | ) | 8,114 | 22,011 | |||||||||||||||
Ending cash and cash equivalents | $ | 91,932 | $ | (13,879 | ) | $ | 8,144 | $ | 86,197 | |||||||||||
Organization_and_Summary_of_Si1
Organization and Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||
Inventory, Policy [Policy Text Block] | ' | |||||||
Inventories | ||||||||
Inventories primarily consist of drilling rig replacement parts and supplies held for use by our Drilling Services Segment’s operations in Colombia and supplies held for use by our Production Services Segment’s operations. Inventories are valued at the lower of cost (first in, first out or actual) or market value. | ||||||||
Trade and Other Accounts Receivable, Unbilled Receivables, Policy [Policy Text Block] | ' | |||||||
Unbilled Accounts Receivable | ||||||||
The asset “unbilled receivables” represents revenues we have recognized in excess of amounts billed on drilling contracts and production services completed but not yet invoiced. We typically invoice our clients at 15-day intervals during the performance of daywork drilling contracts and upon completion of the daywork contract. Turnkey and footage drilling contracts are invoiced upon completion of the contract. | ||||||||
Our unbilled receivables totaled $49.5 million at December 31, 2013, of which $45.4 million represented revenue recognized but not yet billed on daywork drilling contracts in progress at December 31, 2013 and $4.1 million related to unbilled receivables for our Production Services Segment. | ||||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | |||||||
Foreign Currencies | ||||||||
Our functional currency for our foreign subsidiary in Colombia is the U.S. dollar. Nonmonetary assets and liabilities are translated at historical rates and monetary assets and liabilities are translated at exchange rates in effect at the end of the period. Income statement accounts are translated at average rates for the period. Gains and losses from remeasurement of foreign currency financial statements into U.S. dollars and from foreign currency transactions are included in other income or expense. | ||||||||
Cash and Cash Equivalents Disclosure [Text Block] | ' | |||||||
Cash and Cash Equivalents | ||||||||
For purposes of the statements of cash flows, we consider all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash equivalents consist of investments in corporate and government money market accounts. Cash equivalents at December 31, 2013 and 2012 were $0.7 million and $3.1 million, respectively. | ||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | |||||||
Revenue and Cost Recognition | ||||||||
Drilling Services—Our Drilling Services Segment earns revenues by drilling oil and gas wells for our clients under daywork, turnkey or footage contracts, which usually provide for the drilling of a single well. Drilling contracts for individual wells are usually completed in less than 60 days. We recognize revenues on daywork contracts for the days completed based on the dayrate each contract specifies. We recognize revenues from our turnkey and footage contracts on the percentage-of-completion method based on our estimate of the number of days to complete each contract. All our revenues are recognized net of applicable sales taxes. | ||||||||
Our management has determined that it is appropriate to use the percentage-of-completion method to recognize revenue on our turnkey and footage contracts. Although our turnkey and footage contracts do not have express terms that provide us with rights to receive payment for the work that we perform prior to drilling wells to the agreed-on depth, we use this method because, as provided in applicable accounting literature, we believe we achieve a continuous sale for our work-in-progress and believe, under applicable state law, we ultimately could recover the fair value of our work-in-progress even in the event we were unable to drill to the agreed-on depth in breach of the applicable contract. However, in the event we were unable to drill to the agreed-on depth in breach of the contract, ultimate recovery of that value would be subject to negotiations with the client and the possibility of litigation. | ||||||||
If a client defaults on its payment obligation to us under a turnkey or footage contract, we would need to rely on applicable law to enforce our lien rights, because our turnkey and footage contracts do not expressly grant to us a security interest in the work we have completed under the contract and we have no ownership rights in the work-in-progress or completed drilling work, except any rights arising under the applicable lien statute on foreclosure. If we were unable to drill to the agreed-on depth in breach of the contract, we also would need to rely on equitable remedies outside of the contract available in applicable courts to recover the fair value of our work-in-progress under a turnkey or footage contract. | ||||||||
The risks to us under a turnkey contract and, to a lesser extent, under footage contracts, are substantially greater than on a contract drilled on a daywork basis. Under a turnkey contract, we assume most of the risks associated with drilling operations that are generally assumed by the operator in a daywork contract, including the risks of blowout, loss of hole, stuck drill pipe, machinery breakdowns and abnormal drilling conditions, as well as risks associated with subcontractors’ services, supplies, cost escalations and personnel operations. | ||||||||
We accrue estimated contract costs on turnkey and footage contracts for each day of work completed based on our estimate of the total costs to complete the contract divided by our estimate of the number of days to complete the contract. Contract costs include labor, materials, supplies, repairs and maintenance, operating overhead allocations and allocations of depreciation and amortization expense. In addition, the occurrence of uninsured or under-insured losses or operating cost overruns on our turnkey and footage contracts could have a material adverse effect on our financial position and results of operations. Therefore, our actual results for a contract could differ significantly if our cost estimates for that contract are later revised from our original cost estimates for a contract in progress at the end of a reporting period which was not completed prior to the release of our financial statements. | ||||||||
With most drilling contracts, we receive payments contractually designated for the mobilization of rigs and other equipment. Payments received, and costs incurred for the mobilization services are deferred and recognized on a straight line basis over the related contract term. Costs incurred to relocate rigs and other drilling equipment to areas in which a contract has not been secured are expensed as incurred. Reimbursements that we receive for out-of-pocket expenses are recorded as revenue and the out-of-pocket expenses for which they relate are recorded as operating costs. | ||||||||
The assets “prepaid expenses and other current assets” and “other long-term assets” include the current and long-term portions of deferred mobilization costs for certain drilling contracts. The liabilities “deferred revenues” and “other long-term liabilities” include the current and long-term portions of deferred mobilization revenues for certain drilling contracts and amounts collected on contracts in excess of revenues recognized. As of December 31, 2013 we had $0.7 million and $0.9 million of current deferred mobilization revenues and costs, respectively, and $0.4 million and $0.5 million of long-term deferred mobilization revenues and costs, respectively. Our deferred mobilization costs and revenues primarily related to long-term contracts for our new-build drilling rigs and long-term contracts for drilling rigs which we moved between drilling divisions. Amortization of deferred mobilization revenues was $5.3 million, $6.3 million and $5.1 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||
Production Services—Our Production Services Segment earns revenues for well servicing, wireline services, coiled tubing services and fishing and rental services pursuant to master services agreements based on purchase orders, contracts or other arrangements with the client that include fixed or determinable prices. Production services jobs are generally short-term and are charged at current market rates. Production service revenue is recognized when the service has been rendered and collectability is reasonably assured. | ||||||||
Basis of Presentation, Policy [Policy Text Block] | ' | |||||||
Basis of Presentation | ||||||||
The accompanying consolidated financial statements include the accounts of Pioneer Energy Services Corp. and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. | ||||||||
Use of Estimates, Policy [Policy Text Block] | ' | |||||||
In preparing the accompanying consolidated financial statements, we make various estimates and assumptions that affect the amounts of assets and liabilities we report as of the dates of the balance sheets and income and expenses we report for the periods shown in the income statements and statements of cash flows. Our actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant changes in the near term relate to our recognition of revenues and costs for turnkey contracts, our estimate of the allowance for doubtful accounts, our determination of depreciation and amortization expenses, our estimates of fair value for impairment evaluations, our estimate of deferred taxes, our estimate of the liability relating to the self-insurance portion of our health and workers’ compensation insurance, and our estimate of compensation related accruals. | ||||||||
Trade and Other Accounts Receivable, Policy [Policy Text Block] | ' | |||||||
Trade Accounts Receivable | ||||||||
We record trade accounts receivable at the amount we invoice our clients. These accounts do not bear interest. The allowance for doubtful accounts is our best estimate of the amount of probable credit losses in our accounts receivable as of the balance sheet date. We determine the allowance based on the credit worthiness of our clients and general economic conditions. Consequently, an adverse change in those factors could affect our estimate of our allowance for doubtful accounts. | ||||||||
We review our allowance for doubtful accounts on a monthly basis. Our typical drilling contract provides for payment of invoices in 30 days. We generally do not extend payment terms beyond 30 days and have not extended payment terms beyond 90 days for any of our contracts in the last three fiscal years. Our production services terms generally provide for payment of invoices in 30 days. Balances more than 90 days past due are reviewed individually for collectability. We charge off account balances against the allowance after we have exhausted all reasonable means of collection and determined that the potential for recovery is remote. We do not have any off-balance sheet credit exposure related to our clients. | ||||||||
Property and Equipment, Policy [Policy Text Block] | ' | |||||||
Property and Equipment | ||||||||
Property and equipment are carried at cost less accumulated depreciation. Depreciation is provided for our assets over the estimated useful lives of the assets using the straight-line method. We record the same depreciation expense whether a rig is idle or working. We charge our expenses for maintenance and repairs to operating costs. We capitalize expenditures for renewals and betterments to the appropriate property and equipment accounts. | ||||||||
We evaluate for potential impairment of long-lived tangible and intangible assets subject to amortization when indicators of impairment are present. Circumstances that could indicate a potential impairment include significant adverse changes in industry trends, economic climate, legal factors, and an adverse action or assessment by a regulator. More specifically, significant adverse changes in industry trends include significant declines in revenue rates, utilization rates, oil and natural gas market prices and industry rig counts for drilling rigs and well servicing rigs. In performing an impairment evaluation, we estimate the future undiscounted net cash flows from the use and eventual disposition of long-lived tangible and intangible assets grouped at the lowest level that cash flows can be identified. For our Production Services Segment, we perform an impairment evaluation and estimate future undiscounted cash flows for the individual reporting units (well servicing, wireline, coiled tubing and fishing and rental services). For our Drilling Services Segment, we perform an impairment evaluation and estimate future undiscounted cash flows for individual drilling rig assets. If the sum of the estimated future undiscounted net cash flows is less than the carrying amount of the asset group, then we would determine the fair value of the asset group. The amount of an impairment charge would be measured as the difference between the carrying amount and the fair value of these assets. The assumptions used in the impairment evaluation for long-lived assets are inherently uncertain and require management judgment. | ||||||||
Intangible Assets, Policy [Policy Text Block] | ' | |||||||
Intangible Assets | ||||||||
Our intangible assets consist of the following components as of December 31, 2013 and 2012 (amounts in thousands): | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Cost: | ||||||||
Client relationships | $ | 63,168 | $ | 66,273 | ||||
Non-compete agreements | 1,355 | 1,355 | ||||||
Trademarks / trade names | 575 | 568 | ||||||
Accumulated amortization: | ||||||||
Client relationships | (31,584 | ) | (23,667 | ) | ||||
Non-compete agreements | (745 | ) | (436 | ) | ||||
Trademarks / trade names | (500 | ) | (250 | ) | ||||
$ | 32,269 | $ | 43,843 | |||||
Substantially all of our intangible assets were recorded in connection with the acquisitions of production services businesses and are subject to amortization. The cost of our client relationships, trademarks and trade names are amortized using the straight-line method over their respective estimated economic useful lives which range from two to nine years. Amortization expense for our non-compete agreements is calculated using the straight-line method over the period of the agreements which range from three to seven years. Amortization expense was $8.5 million, $8.7 million and $4.3 million for the years ended December 31, 2013, 2012 and 2011, respectively. Amortization expense is estimated to be approximately $8.0 million, $7.9 million, $5.1 million, $3.8 million and $3.8 million for the years ending December 31, 2014, 2015, 2016, 2017 and 2018, respectively. Actual amortization amounts may be different due to future acquisitions, impairments, changes in amortization periods, or other factors. | ||||||||
We evaluate for potential impairment of long-lived tangible and intangible assets subject to amortization when indicators of impairment are present. Circumstances that could indicate a potential impairment include significant adverse changes in industry trends, economic climate, legal factors, and an adverse action or assessment by a regulator. More specifically, significant adverse changes in industry trends include significant declines in revenue rates, utilization rates, oil and natural gas market prices and industry rig counts for drilling rigs and well servicing rigs. In performing an impairment evaluation, we estimate the future undiscounted net cash flows from the use and eventual disposition of long-lived tangible and intangible assets grouped at the lowest level that cash flows can be identified. For our Production Services Segment, we perform an impairment evaluation and estimate future undiscounted cash flows for the individual reporting units (well servicing, wireline, coiled tubing and fishing and rental services). If the sum of the estimated future undiscounted net cash flows is less than the carrying amount of the asset group, then we would determine the fair value of the asset group. The amount of an impairment charge would be measured as the difference between the carrying amount and the fair value of these assets. The assumptions used in the impairment evaluation for long-lived assets are inherently uncertain and require management judgment. | ||||||||
Due to several significant adverse factors affecting our coiled tubing services reporting unit, including increased competition in certain coiled tubing markets, turnover of key personnel and lower than anticipated utilization, all of which contributed to a decline in our projected cash flows for the coiled tubing reporting unit, we performed an impairment analysis of our long-lived tangible and intangible assets as of June 30, 2013. We determined that the sum of the estimated future undiscounted net cash flows for our coiled tubing services reporting unit was less than the carrying amount at June 30, 2013. We then performed a valuation of the assets which resulted in a non-cash impairment charge of $3.1 million to reduce our intangible asset carrying value of client relationships. This impairment charge did not have an impact on our liquidity or debt covenants; however, it was a reflection of the increased competition in certain coiled tubing markets where we operate and a decline in our projected cash flows for the coiled tubing reporting unit. | ||||||||
The most significant inputs used in our impairment analysis include the projected utilization and pricing of our coiled tubing services, which are classified as Level 3 inputs as defined by ASC Topic 820, Fair Value Measurements and Disclosures. An increase of 1% in either the utilization or pricing assumptions would have resulted in a decrease to our impairment charge for our long-lived intangible assets of approximately $1 million. Similarly, a decrease of 1% in either of these assumptions would have led to an approximate $1 million increase to our impairment charge. Although we believe the assumptions and estimates used in our analysis are reasonable and appropriate, different assumptions and estimates could materially impact the analysis and resulting conclusions. The assumptions used in estimating fair values and performing the impairment test are inherently uncertain and require management judgment. | ||||||||
As of December 31, 2013, our carrying value of intangible assets related to the acquisition of Go-Coil was $21.8 million. Due to continued increases in competition in certain coiled tubing markets and lower than anticipated operating results, we performed another impairment analysis of our long-lived tangible and intangible assets as of December 31, 2013. We determined that the sum of the estimated future undiscounted net cash flows for our coiled tubing services reporting unit was in excess of the carrying amount and concluded that no impairment existed as of December 31, 2013. The future undiscounted cash flows used in our impairment analysis include projected increases in utilization and pricing from what we have historically experienced. If we fail to meet the projected increases in utilization and pricing for our coiled tubing services, or in the event of significant unfavorable changes in the forecasted cash flows or key assumptions used in our analysis, the most significant of these being the projected utilization and pricing of our coiled tubing services, then we may incur a future impairment. | ||||||||
Our impairment analysis did not result in any impairment charges to our coiled tubing tangible long-lived assets, substantially all of which was related to the 13 coiled tubing units. As discussed further below, we also recorded a non-cash impairment charge to reduce the carrying value of goodwill to zero. | ||||||||
Goodwill, Policy [Policy Text Block] | ' | |||||||
Goodwill | ||||||||
Goodwill results from business acquisitions and represents the excess of acquisition costs over the fair value of the net assets acquired. In connection with the acquisition of the production services business from Go-Coil, we recorded $41.7 million of goodwill at December 31, 2011, all of which was allocated to the coiled tubing services reporting unit within our Production Services Segment. | ||||||||
We perform a qualitative assessment of goodwill annually as of December 31 or more frequently if events or changes in circumstances indicate that the asset might be impaired. Circumstances that could indicate a potential impairment include a significant adverse change in the economic or business climate, a significant adverse change in legal factors, an adverse action or assessment by a regulator, unanticipated competition, loss of key personnel and the likelihood that a reporting unit or significant portion of a reporting unit will be sold or otherwise disposed of. In addition, these circumstances could lead to our net book value exceeding our market capitalization which is another indicator of a potential impairment of goodwill. | ||||||||
If our qualitative assessment of goodwill indicates a possible impairment, we test for goodwill impairment using a two-step process. First, the fair value of each reporting unit with goodwill is compared to its carrying value to determine whether an indication of impairment exists. Second, if impairment is indicated, then the fair value of the reporting unit's goodwill is determined by allocating the unit's fair value to its assets and liabilities (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination on the impairment test date. The amount of impairment for goodwill is measured as the excess of the carrying value of the reporting unit over its fair value. | ||||||||
When estimating fair values of a reporting unit for our goodwill impairment test, we use an income approach which provides an estimated fair value based on the reporting unit’s anticipated cash flows that are discounted using a weighted average cost of capital rate. The primary assumptions used in the income approach are estimated cash flows and weighted average cost of capital. Estimated cash flows are primarily based on projected revenues, operating costs and capital expenditures and are discounted at a rate that is based on our weighted average cost of capital and estimated industry average rates for cost of capital. To ensure the reasonableness of the estimated fair value of our reporting units, we consider current industry market multiples and we perform a reconciliation of our total market capitalization to the total estimated fair value of all our reporting units. | ||||||||
Due to several significant adverse factors affecting our coiled tubing services reporting unit, including increased competition in certain coiled tubing markets, turnover of key personnel and lower than anticipated utilization, all of which contributed to a decline in our projected cash flows for the coiled tubing reporting unit, we performed an impairment analysis of our goodwill as of June 30, 2013. We determined that the fair value of our coiled tubing services reporting unit was less than its carrying value, including goodwill, and therefore, we performed the second step of the goodwill impairment test which led us to conclude that there would be no remaining implied fair value attributable to goodwill. Accordingly, we recorded a non-cash impairment charge of $41.7 million to reduce the carrying value of our goodwill to zero. This impairment charge did not have an impact on our liquidity or debt covenants; however, it was a reflection of the increased competition in certain coiled tubing markets where we operate and a decline in our projected cash flows for the coiled tubing reporting unit. | ||||||||
The most significant inputs used in our impairment analysis include the projected utilization and pricing of our coiled tubing services and the weighted average cost of capital (discount rate) used in order to calculate the discounted cash flows for the reporting unit. These inputs are classified as Level 3 inputs as defined by ASC Topic 820, Fair Value Measurements and Disclosures. We assumed a 13% discount rate to estimate the fair value of the coiled tubing services reporting unit. A decrease in this assumption of 5% would have resulted in a decrease to our goodwill impairment charge of approximately $3.5 million. An increase of 1% in either the utilization or pricing assumptions would have resulted in a decrease to our goodwill impairment charge of approximately $2 million or $3 million, respectively. Although we believe the assumptions and estimates used in our analysis are reasonable and appropriate, different assumptions and estimates could materially impact the analysis and resulting conclusions. The assumptions used in estimating fair values of reporting units and performing the goodwill impairment test are inherently uncertain and require management judgment. | ||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | |||||||
Investments | ||||||||
At December 31, 2010, we held $15.9 million (par value) of auction rate preferred securities (“ARPSs”), which were variable-rate preferred securities with a long-term maturity that were classified as held for sale. On January 19, 2011, we entered into an agreement with a financial institution to sell the ARPSs for $12.6 million, which represented 79% of the par value, plus accrued interest. The $3.3 million difference between the ARPSs’ par value of $15.9 million and the sales price of $12.6 million represented an other-than-temporary impairment of the ARPSs investment which was reflected as an impairment of investments in our consolidated statement of operations for the year ended December 31, 2010. | ||||||||
Under the ARPSs sales agreement, we retained the unilateral right for a period ending January 7, 2013 to: (a) repurchase all the ARPSs that were sold at the $12.6 million price at which they were initially sold to the financial institution; and (b) if not repurchased, receive additional proceeds from the financial institution upon redemption of the ARPSs by the original issuer of these securities (collectively, the “ARPSs Call Option”). Upon origination, the fair value of the ARPSs Call Option was estimated to be $0.6 million and was recognized as other income in our consolidated statement of operations for 2011. The ARPSs Call Option was subsequently carried at fair value on our consolidated balance sheets with changes in fair value recognized as "other income (loss)" in our consolidated statement of operations. | ||||||||
On October 1, 2012, we received proceeds of $0.6 million from the redemption of certain ARPSs by the original issuer of the securities, which we recognized as other income in our consolidated statement of operations for the year ended December 31, 2012. The ARPSs Call Option had a fair value of zero as of December 31, 2012 and expired on January 7, 2013. | ||||||||
Treasury Stock [Text Block] | ' | |||||||
Treasury Stock | ||||||||
Treasury stock purchases are accounted for under the cost method whereby the cost of the acquired common stock is recorded as treasury stock. Gains and losses on the subsequent reissuance of treasury stock shares are credited or charged to additional paid in capital using the average cost method. | ||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | |||||||
Stock-based Compensation | ||||||||
We recognize compensation cost for stock option, restricted stock and restricted stock unit awards based on the fair value estimated in accordance with ASC Topic 718, Compensation—Stock Compensation. For our awards with graded vesting, we recognize compensation expense on a straight-line basis over the service period for each separately vesting portion of the award as if the award was, in substance, multiple awards. | ||||||||
We receive a tax deduction for certain stock option exercises during the period the options are exercised, generally for the excess of the market price of our common stock on the exercise date over the exercise price of the stock options. We report all excess tax benefits resulting from the exercise of stock options as financing cash flows in our consolidated statement of cash flows. | ||||||||
Income Tax, Policy [Policy Text Block] | ' | |||||||
Income Taxes | ||||||||
We follow the asset and liability method of accounting for income taxes, under which we recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. We measure our deferred tax assets and liabilities by using the enacted tax rates we expect to apply to taxable income in the years in which we expect to recover or settle those temporary differences. The effect of a change in tax rates on deferred tax assets and liabilities is reflected in income in the period during which the change occurs. A recent change in Colombia tax rates is described in more detail in Note 6, Income Taxes. |
Organization_and_Summary_of_Si2
Organization and Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||||
Schedule of Long-Lived Assets, by Reporting Segment | ' | ||||||||||||||||||
Our Drilling Services Segment provides contract land drilling services with its fleet of 62 drilling rigs which are currently assigned to the following divisions: | |||||||||||||||||||
Drilling Division | Rig Count | ||||||||||||||||||
South Texas | 14 | ||||||||||||||||||
West Texas | 18 | ||||||||||||||||||
North Dakota | 11 | ||||||||||||||||||
Utah | 7 | ||||||||||||||||||
Appalachia | 4 | ||||||||||||||||||
Colombia | 8 | ||||||||||||||||||
62 | |||||||||||||||||||
Drilling Services Segment—Our Drilling Services Segment provides contract land drilling services to a diverse group of oil and gas exploration and production companies with its fleet of 62 drilling rigs which are currently assigned to the following divisions: | |||||||||||||||||||
Drilling Division | Rig Count | ||||||||||||||||||
South Texas | 14 | ||||||||||||||||||
West Texas | 18 | ||||||||||||||||||
North Dakota | 11 | ||||||||||||||||||
Utah | 7 | ||||||||||||||||||
Appalachia | 4 | ||||||||||||||||||
Colombia | 8 | ||||||||||||||||||
62 | |||||||||||||||||||
Drilling Contracts | ' | ||||||||||||||||||
Drilling Contracts | |||||||||||||||||||
Our drilling contracts generally provide for compensation on either a daywork, turnkey or footage basis. Contract terms generally depend on the complexity and risk of operations, the on-site drilling conditions, the type of equipment used, and the anticipated duration of the work to be performed. Spot market contracts generally provide for the drilling of a single well and typically permit the client to terminate on short notice. During periods of high rig demand, or for our newly constructed rigs, we enter into longer-term drilling contracts. Currently, we have contracts with terms of six months to four years in duration. As of December 31, 2013, we have 39 drilling rigs operating under term contracts, which if not renewed at the end of their terms, will expire as follows: | |||||||||||||||||||
Term Contract Expiration by Period | |||||||||||||||||||
Total | Within | 6 Months | 1 Year to | 18 Months | 2 to 4 Years | ||||||||||||||
Term Contracts | 6 Months | to 1 Year | 18 Months | to 2 Years | |||||||||||||||
United States | 33 | 18 | 4 | 5 | 1 | 5 | |||||||||||||
Colombia | 6 | — | 6 | — | — | — | |||||||||||||
39 | 18 | 10 | 5 | 1 | 5 | ||||||||||||||
Schedule of Allowance for Doubtful Accounts | ' | ||||||||||||||||||
The changes in our allowance for doubtful accounts consist of the following (amounts in thousands): | |||||||||||||||||||
Year ended December 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Balance at beginning of year | $ | 1,044 | $ | 994 | $ | 712 | |||||||||||||
Increase in allowance charged to expense | 801 | 76 | 787 | ||||||||||||||||
Accounts charged against the allowance, net of recoveries | (489 | ) | (26 | ) | (505 | ) | |||||||||||||
Balance at end of year | $ | 1,356 | $ | 1,044 | $ | 994 | |||||||||||||
Schedule of Intangible Assets | ' | ||||||||||||||||||
Our intangible assets consist of the following components as of December 31, 2013 and 2012 (amounts in thousands): | |||||||||||||||||||
December 31, | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Cost: | |||||||||||||||||||
Client relationships | $ | 63,168 | $ | 66,273 | |||||||||||||||
Non-compete agreements | 1,355 | 1,355 | |||||||||||||||||
Trademarks / trade names | 575 | 568 | |||||||||||||||||
Accumulated amortization: | |||||||||||||||||||
Client relationships | (31,584 | ) | (23,667 | ) | |||||||||||||||
Non-compete agreements | (745 | ) | (436 | ) | |||||||||||||||
Trademarks / trade names | (500 | ) | (250 | ) | |||||||||||||||
$ | 32,269 | $ | 43,843 | ||||||||||||||||
Acquisitions_Acquisitions_Tabl
Acquisitions Acquisitions (Tables) | 12 Months Ended | |||
Dec. 31, 2011 | ||||
Schedule of Business Combinations [Abstract] | ' | |||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||
The following table summarizes the allocation of the purchase price to the estimated fair value of the assets acquired and liabilities assumed as of the date of acquisition (amounts in thousands): | ||||
Cash acquired | $ | 313 | ||
Other current assets | 9,068 | |||
Property and equipment | 30,103 | |||
Intangibles and other assets | 33,695 | |||
Goodwill | 41,683 | |||
Total assets acquired | $ | 114,862 | ||
Current liabilities | 4,337 | |||
Long-term debt | 131 | |||
Total liabilities assumed | 4,468 | |||
Net assets acquired | $ | 110,394 | ||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | |||
The following unaudited pro forma consolidated summary financial information gives effect of the acquisition of the production services business from Go-Coil as though it was effective as of the beginning of the year ended December 31, 2011. Pro forma adjustments primarily relate to additional depreciation, amortization, interest and tax expenses, as well as the removal of approximately $14.1 million of nonrecurring costs, primarily related to discontinued compensation arrangements and acquisition related costs. The pro forma information reflects our company’s historical data and Go-Coil's historical data for the periods indicated. The pro forma data may not be indicative of the results we would have achieved had we completed the acquisition on January 1, 2011, or what we may achieve in the future and should be read in conjunction with the accompanying financial statements. | ||||
Pro Forma | ||||
For the year ended December 31, 2011 | ||||
(in thousands) | ||||
Total revenues | $ | 762,978 | ||
Net earnings | $ | 8,412 | ||
Earnings per common share: | ||||
Basic | $ | 0.15 | ||
Diluted | $ | 0.14 | ||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Property, Plant and Equipment [Line Items] | ' | |||||
Property, Plant and Equipment [Table Text Block] | ' | |||||
As of December 31, 2013, the estimated useful lives and costs of our asset classes are as follows: | ||||||
Lives | Cost | |||||
(amounts in | ||||||
thousands) | ||||||
Drilling rigs and equipment | 3 - 25 | $ | 1,223,621 | |||
Well servicing rigs and equipment | 20-Mar | 205,409 | ||||
Wireline units and equipment | 10-Feb | 128,800 | ||||
Coiled tubing units and equipment | 7-Jan | 47,761 | ||||
Fishing and rental tools and equipment | 15-Mar | 17,264 | ||||
Vehicles | 20-Mar | 65,796 | ||||
Office equipment | 10-Mar | 9,274 | ||||
Buildings and improvements | Mar-40 | 23,931 | ||||
Land | — | 2,268 | ||||
$ | 1,724,124 | |||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Schedule of Long-term Debt Instruments | ' | |||||||
Our debt consists of the following (amounts in thousands): | ||||||||
December 31, 2013 | December 31, 2012 | |||||||
Senior secured revolving credit facility | $ | 80,000 | $ | 100,000 | ||||
Senior notes | 419,586 | 418,617 | ||||||
Other | 2,927 | 980 | ||||||
502,513 | 519,597 | |||||||
Less current portion | (2,847 | ) | (872 | ) | ||||
$ | 499,666 | $ | 518,725 | |||||
Leases_Tables
Leases (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Leases [Abstract] | ' | |||
Schedule of Future Lease Obligations Required | ' | |||
Future lease obligations required under non-cancelable operating leases as of December 31, 2013 were as follows (amounts in thousands): | ||||
Year ended December 31, | ||||
2014 | $ | 5,032 | ||
2015 | 2,987 | |||
2016 | 2,428 | |||
2017 | 2,024 | |||
2018 | 1,082 | |||
Thereafter | 1,366 | |||
$ | 14,919 | |||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | |||||||||||
The jurisdictional components of income (loss) before income taxes consist of the following (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Domestic | $ | (66,147 | ) | $ | 42,194 | $ | 23,396 | |||||
Foreign | 10,369 | 4,192 | (2,563 | ) | ||||||||
Income (loss) before income tax | $ | (55,778 | ) | $ | 46,386 | $ | 20,833 | |||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||||||
The components of our income tax expense (benefit) consist of the following (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current tax: | ||||||||||||
Federal | $ | (380 | ) | $ | 236 | $ | 716 | |||||
State | 879 | 1,214 | 1,090 | |||||||||
Foreign | 2,302 | 1,479 | 1,301 | |||||||||
2,801 | 2,929 | 3,107 | ||||||||||
Deferred taxes: | ||||||||||||
Federal | (21,034 | ) | 15,013 | 7,199 | ||||||||
State | (3,520 | ) | (749 | ) | 102 | |||||||
Foreign | 1,907 | (839 | ) | (752 | ) | |||||||
(22,647 | ) | 13,425 | 6,549 | |||||||||
Income tax expense (benefit) | $ | (19,846 | ) | $ | 16,354 | $ | 9,656 | |||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||||||
The difference between the income tax expense (benefit) and the amount computed by applying the federal statutory income tax rate of 35% to income (loss) before income taxes consists of the following (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Expected tax expense (benefit) | $ | (19,522 | ) | $ | 16,235 | $ | 7,291 | |||||
State income taxes | (1,717 | ) | 302 | 775 | ||||||||
Incentive stock options | 66 | 43 | 41 | |||||||||
Net tax benefits and nondeductible expenses in foreign jurisdictions | 525 | (881 | ) | 1,391 | ||||||||
Nondeductible expenses for tax purposes | 863 | 770 | 567 | |||||||||
Valuation allowance | — | (206 | ) | — | ||||||||
Other, net | (61 | ) | 91 | (409 | ) | |||||||
Income tax expense (benefit) | $ | (19,846 | ) | $ | 16,354 | $ | 9,656 | |||||
Schedule of Income Tax Expense (Benefit), Intraperiod Tax Allocation [Table Text Block] | ' | |||||||||||
Income tax expense (benefit) was allocated as follows (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Results of operations | $ | (19,846 | ) | $ | 16,354 | $ | 9,656 | |||||
Stockholders' equity | 321 | 449 | 254 | |||||||||
Income tax expense (benefit) | $ | (19,525 | ) | $ | 16,803 | $ | 9,910 | |||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||||||
The components of our deferred income tax assets and liabilities were as follows (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Capital loss carryforward | $ | 1,008 | $ | 1,008 | ||||||||
Intangibles | 36,442 | 19,918 | ||||||||||
Employee benefits and insurance claims accruals | 9,332 | 8,273 | ||||||||||
Accounts receivable reserve | 501 | 370 | ||||||||||
Employee stock-based compensation | 8,905 | 8,225 | ||||||||||
Accrued expenses not deductible for tax purposes | 749 | 1,066 | ||||||||||
Accrued revenue not income for book purposes | 942 | 1,399 | ||||||||||
Federal and state net operating loss and AMT credit carryforward | 94,605 | 69,160 | ||||||||||
Foreign net operating loss carryforward | 3,411 | 5,361 | ||||||||||
155,895 | 114,780 | |||||||||||
Valuation allowance | (1,008 | ) | (1,008 | ) | ||||||||
Total deferred tax assets | 154,887 | 113,772 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Property and equipment | 225,275 | 206,033 | ||||||||||
Total deferred tax liabilities | 225,275 | 206,033 | ||||||||||
Net deferred tax liabilities | $ | 70,388 | $ | 92,261 | ||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Debt Instrument, Fair Value Disclosure [Abstract] | ' | |||||||||||||||
Fair Value, by Balance Sheet Grouping | ' | |||||||||||||||
The following table presents the supplemental fair value information about long-term debt at December 31, 2013 and December 31, 2012 (amounts in thousands): | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Total debt | $ | 502,513 | $ | 538,074 | $ | 519,597 | $ | 565,257 | ||||||||
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | |||||||||||
The following table presents a reconciliation of the numerators and denominators of the basic income per share and diluted income per share computations (amounts in thousands, except per share data): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Basic | ||||||||||||
Net income (loss) | $ | (35,932 | ) | $ | 30,032 | $ | 11,177 | |||||
Weighted-average shares | 62,213 | 61,780 | 57,390 | |||||||||
Income (loss) per share | $ | (0.58 | ) | $ | 0.49 | $ | 0.19 | |||||
Diluted | ||||||||||||
Net income (loss) | $ | (35,932 | ) | $ | 30,032 | $ | 11,177 | |||||
Weighted average shares: | ||||||||||||
Outstanding | 62,213 | 61,780 | 57,390 | |||||||||
Diluted effect of stock options, restricted stock, | — | 982 | 1,389 | |||||||||
and restricted stock unit awards | ||||||||||||
62,213 | 62,762 | 58,779 | ||||||||||
Income (loss) per share | $ | (0.58 | ) | $ | 0.48 | $ | 0.19 | |||||
Equity_Transactions_and_StockB1
Equity Transactions and Stock-Based Compensation Plans (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | |||||||||||
The following table summarizes our restricted stock unit activity from December 31, 2011 through December 31, 2013: | ||||||||||||
Time-Based Award | Performance-Based Award | |||||||||||
Number of | Weighted-Average | Number of | Weighted-Average | |||||||||
Time-Based | Grant-Date | Performance-Based | Grant-Date | |||||||||
Award Units | Fair Value | Award Units | Fair Value | |||||||||
per Unit | per Unit | |||||||||||
Nonvested restricted stock units as of December 31, 2011 | 272,951 | $10.76 | 139,089 | $10.23 | ||||||||
Granted | 356,813 | 8.21 | 221,495 | 9.85 | ||||||||
Vested | -72,259 | 10.07 | — | — | ||||||||
Forfeited | -25,979 | 10.34 | -5,533 | 10.23 | ||||||||
Nonvested restricted stock units as of December 31, 2012 | 531,526 | $9.16 | 355,051 | $9.99 | ||||||||
Granted | 406,027 | 7.59 | 346,731 | 8.34 | ||||||||
Vested | -254,629 | 9.82 | — | — | ||||||||
Forfeited | -55,212 | 8.6 | -28,020 | 8.81 | ||||||||
Nonvested restricted stock units as of December 31, 2013 | 627,712 | $7.93 | 673,762 | $9.19 | ||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | ' | |||||||||||
The following table summarizes the assumptions used in the Black-Scholes option pricing model based on a weighted-average calculation for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Expected volatility | 66 | % | 70 | % | 65 | % | ||||||
Risk-free interest rates | 1 | % | 0.8 | % | 1.5 | % | ||||||
Expected life in years | 5.53 | 5.12 | 4.33 | |||||||||
Grant-date fair value | $4.36 | $5.02 | $4.69 | |||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | ' | |||||||||||
The following table summarizes the compensation expense recognized for stock option, restricted stock and restricted stock unit awards during the years ended December 31, 2013, 2012 and 2011 (amounts in thousands): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Stock option awards | $ | 1,771 | $ | 2,962 | $ | 3,720 | ||||||
Restricted stock awards | 576 | 628 | 1,030 | |||||||||
Restricted stock unit awards | 4,024 | 3,729 | 1,955 | |||||||||
$ | 6,371 | $ | 7,319 | $ | 6,705 | |||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||
The following table represents stock option activity from December 31, 2011 through December 31, 2013: | ||||||||||||
Number of | Weighted-Average | Weighted-Average | ||||||||||
Shares | Exercise Price | Remaining Contract | ||||||||||
Per Share | Life in Years | |||||||||||
Outstanding stock options as of December 31, 2011 | 5,563,348 | $10.20 | ||||||||||
Granted | 530,156 | 8.72 | ||||||||||
Forfeited | -271,097 | 13.6 | ||||||||||
Exercised | -172,416 | 4.02 | ||||||||||
Outstanding stock options as of December 31, 2012 | 5,649,991 | $10.09 | ||||||||||
Granted | 220,656 | 7.58 | ||||||||||
Forfeited | -67,500 | 16.02 | ||||||||||
Exercised | -270,934 | 4.67 | ||||||||||
Outstanding stock options as of December 31, 2013 | 5,532,213 | $10.18 | 5.1 | |||||||||
Stock options exercisable as of December 31, 2013 | 4,775,172 | $10.45 | 4.6 | |||||||||
Restricted Stock [Member] | ' | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | ' | |||||||||||
The following table summarizes our restricted stock activity from December 31, 2011 through December 31, 2013: | ||||||||||||
Number of | Weighted-Average | |||||||||||
Shares | Grant-Date | |||||||||||
Fair Value per Share | ||||||||||||
Nonvested restricted stock as of December 31, 2011 | 281,836 | $7.18 | ||||||||||
Granted | 49,748 | 8.04 | ||||||||||
Vested | -184,081 | 6.21 | ||||||||||
Forfeited | -4,683 | 8.86 | ||||||||||
Nonvested restricted stock as of December 31, 2012 | 142,820 | $8.67 | ||||||||||
Granted | 61,248 | 7.51 | ||||||||||
Vested | -98,864 | 8.47 | ||||||||||
Nonvested restricted stock as of December 31, 2013 | 105,204 | $8.18 | ||||||||||
Stock Options [Member] | ' | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | ' | |||||||||||
The following table summarizes our nonvested stock option activity from December 31, 2011 through December 31, 2013: | ||||||||||||
Number of | Weighted-Average Grant-Date | |||||||||||
Shares | Fair Value Per Share | |||||||||||
Nonvested stock options as of December 31, 2011 | 1,531,237 | $3.98 | ||||||||||
Granted | 530,156 | 5.02 | ||||||||||
Vested | -901,817 | 3.42 | ||||||||||
Forfeited | -28,732 | 4.74 | ||||||||||
Nonvested stock options as of December 31, 2012 | 1,130,844 | $4.89 | ||||||||||
Granted | 220,656 | 4.36 | ||||||||||
Vested | -594,459 | 4.88 | ||||||||||
Nonvested stock options as of December 31, 2013 | 757,041 | $4.74 |
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of Long-Lived Assets, by Reporting Segment | ' | |||||||||||||||
Our Drilling Services Segment provides contract land drilling services with its fleet of 62 drilling rigs which are currently assigned to the following divisions: | ||||||||||||||||
Drilling Division | Rig Count | |||||||||||||||
South Texas | 14 | |||||||||||||||
West Texas | 18 | |||||||||||||||
North Dakota | 11 | |||||||||||||||
Utah | 7 | |||||||||||||||
Appalachia | 4 | |||||||||||||||
Colombia | 8 | |||||||||||||||
62 | ||||||||||||||||
Drilling Services Segment—Our Drilling Services Segment provides contract land drilling services to a diverse group of oil and gas exploration and production companies with its fleet of 62 drilling rigs which are currently assigned to the following divisions: | ||||||||||||||||
Drilling Division | Rig Count | |||||||||||||||
South Texas | 14 | |||||||||||||||
West Texas | 18 | |||||||||||||||
North Dakota | 11 | |||||||||||||||
Utah | 7 | |||||||||||||||
Appalachia | 4 | |||||||||||||||
Colombia | 8 | |||||||||||||||
62 | ||||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | |||||||||||||||
The following tables set forth certain financial information for our two operating segments and corporate as of and for the years ending December 31, 2013, 2012 and 2011 (amounts in thousands): | ||||||||||||||||
As of and for the year ended December 31, 2013 | ||||||||||||||||
Drilling | Production | Corporate | Total | |||||||||||||
Services | Services | |||||||||||||||
Segment | Segment | |||||||||||||||
Identifiable assets | $ | 791,820 | $ | 395,219 | $ | 42,584 | $ | 1,229,623 | ||||||||
Revenues | $ | 528,327 | $ | 431,859 | $ | — | $ | 960,186 | ||||||||
Operating costs | 351,630 | 276,808 | — | 628,438 | ||||||||||||
Segment margin | $ | 176,697 | $ | 155,051 | $ | — | $ | 331,748 | ||||||||
Depreciation and amortization | $ | 122,201 | $ | 64,604 | $ | 1,113 | $ | 187,918 | ||||||||
Capital expenditures | $ | 78,708 | $ | 44,541 | $ | 2,171 | $ | 125,420 | ||||||||
As of and for the year ended December 31, 2012 | ||||||||||||||||
Drilling | Production | Corporate | Total | |||||||||||||
Services | Services | |||||||||||||||
Segment | Segment | |||||||||||||||
Identifiable assets | $ | 867,526 | $ | 439,113 | $ | 33,137 | $ | 1,339,776 | ||||||||
Revenues | $ | 498,867 | $ | 420,576 | $ | — | $ | 919,443 | ||||||||
Operating costs | 333,846 | 252,775 | — | 586,621 | ||||||||||||
Segment margin | $ | 165,021 | $ | 167,801 | $ | — | $ | 332,822 | ||||||||
Depreciation and amortization | $ | 108,151 | $ | 55,693 | $ | 873 | $ | 164,717 | ||||||||
Capital expenditures | $ | 265,966 | $ | 110,813 | $ | 2,493 | $ | 379,272 | ||||||||
As of and for the year ended December 31, 2011 | ||||||||||||||||
Drilling | Production | Corporate | Total | |||||||||||||
Services | Services | |||||||||||||||
Segment | Segment | |||||||||||||||
Identifiable assets | $ | 667,588 | $ | 398,128 | $ | 107,038 | $ | 1,172,754 | ||||||||
Revenues | $ | 433,902 | $ | 282,039 | $ | — | $ | 715,941 | ||||||||
Operating costs | 292,559 | 164,365 | — | 456,924 | ||||||||||||
Segment margin | $ | 141,343 | $ | 117,674 | $ | — | $ | 259,017 | ||||||||
Depreciation and amortization | $ | 99,302 | $ | 32,683 | $ | 847 | $ | 132,832 | ||||||||
Capital expenditures | $ | 168,120 | $ | 68,908 | $ | 759 | $ | 237,787 | ||||||||
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | ' | |||||||||||||||
The following table reconciles the segment profits reported above to income from operations as reported on the consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011 (amounts in thousands): | ||||||||||||||||
Year ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Segment margin | $ | 331,748 | $ | 332,822 | $ | 259,017 | ||||||||||
Depreciation and amortization | (187,918 | ) | (164,717 | ) | (132,832 | ) | ||||||||||
General and administrative | (95,000 | ) | (85,603 | ) | (67,318 | ) | ||||||||||
Bad debt recovery (expense) | (767 | ) | 440 | (925 | ) | |||||||||||
Impairment charges | (54,292 | ) | (1,131 | ) | (484 | ) | ||||||||||
Income (loss) from operations | $ | (6,229 | ) | $ | 81,811 | $ | 57,458 | |||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | ' | |||||||||||||||
The following table sets forth certain financial information for our international operations in Colombia as of and for the years ended December 31, 2013, 2012 and 2011 (amounts in thousands): | ||||||||||||||||
As of and for the year ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Identifiable assets | $ | 150,719 | $ | 148,567 | $ | 151,448 | ||||||||||
Revenues | $ | 115,631 | $ | 95,338 | $ | 109,539 | ||||||||||
Quarterly_Results_of_Operation1
Quarterly Results of Operations (unaudited) (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Quarterly Results of Operations (unaudited) [Abstract] | ' | |||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | |||||||||||||||||||
The following table summarizes quarterly financial data for the years ended December 31, 2013 and 2012 (in thousands, except per share data): | ||||||||||||||||||||
First | Second | Third | Fourth | Total | ||||||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||
Revenues | $ | 229,670 | $ | 248,354 | $ | 243,979 | $ | 238,183 | $ | 960,186 | ||||||||||
Income (loss) from operations | 10,445 | (27,268 | ) | 1,870 | 8,724 | (6,229 | ) | |||||||||||||
Income tax (expense) benefit | 546 | 14,953 | 3,614 | 733 | 19,846 | |||||||||||||||
Net income (loss) | (1,292 | ) | (25,895 | ) | (6,230 | ) | (2,515 | ) | (35,932 | ) | ||||||||||
Earnings (loss) per share: | ||||||||||||||||||||
Basic | $ | (0.02 | ) | $ | (0.42 | ) | $ | (0.10 | ) | $ | (0.04 | ) | $ | (0.58 | ) | |||||
Diluted | $ | (0.02 | ) | $ | (0.42 | ) | $ | (0.10 | ) | $ | (0.04 | ) | $ | (0.58 | ) | |||||
Year ended December 31, 2012 | ||||||||||||||||||||
Revenues | $ | 231,978 | $ | 229,824 | $ | 229,773 | $ | 227,868 | $ | 919,443 | ||||||||||
Income from operations | 29,748 | 23,312 | 13,222 | 15,529 | 81,811 | |||||||||||||||
Income tax (expense) benefit | (6,953 | ) | (5,997 | ) | (1,461 | ) | (1,943 | ) | (16,354 | ) | ||||||||||
Net income (loss) | 14,172 | 9,685 | 2,615 | 3,560 | 30,032 | |||||||||||||||
Earnings (loss) per share: | ||||||||||||||||||||
Basic | $ | 0.23 | $ | 0.16 | $ | 0.04 | $ | 0.06 | $ | 0.49 | ||||||||||
Diluted | $ | 0.23 | $ | 0.15 | $ | 0.04 | $ | 0.06 | $ | 0.48 | ||||||||||
GuarantorNonGuarantor_Condense1
Guarantor/Non-Guarantor Condensed Consolidated Financial Statements (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Guarantor Non Guarantor Condensed Consolidated Financial Statements [Abstract] | ' | |||||||||||||||||||
Supplemental Guarantor Condensed Consolidated Balance Sheets | ' | |||||||||||||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||||||||||
(Unaudited, in thousands) | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 28,368 | $ | (2,059 | ) | $ | 1,076 | $ | — | $ | 27,385 | |||||||||
Receivables, net of allowance | 905 | 125,979 | 49,476 | — | 176,360 | |||||||||||||||
Intercompany receivable (payable) | (24,837 | ) | 52,671 | (27,834 | ) | — | — | |||||||||||||
Deferred income taxes | 1,143 | 8,005 | 3,944 | — | 13,092 | |||||||||||||||
Inventory | — | 7,415 | 5,817 | — | 13,232 | |||||||||||||||
Prepaid expenses and other current assets | 1,013 | 7,094 | 1,204 | — | 9,311 | |||||||||||||||
Total current assets | 6,592 | 199,105 | 33,683 | — | 239,380 | |||||||||||||||
Net property and equipment | 4,531 | 846,632 | 87,244 | (750 | ) | 937,657 | ||||||||||||||
Investment in subsidiaries | 939,091 | 120,630 | — | (1,059,721 | ) | — | ||||||||||||||
Intangible assets, net of accumulated amortization | 75 | 32,194 | — | — | 32,269 | |||||||||||||||
Noncurrent deferred income taxes | 78,486 | — | 1,156 | (78,486 | ) | 1,156 | ||||||||||||||
Other long-term assets | 7,513 | 2,009 | 9,639 | — | 19,161 | |||||||||||||||
Total assets | $ | 1,036,288 | $ | 1,200,570 | $ | 131,722 | $ | (1,138,957 | ) | $ | 1,229,623 | |||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Accounts payable | $ | 757 | $ | 37,797 | $ | 5,164 | — | $ | 43,718 | |||||||||||
Current portion of long-term debt | — | 2,847 | — | — | 2,847 | |||||||||||||||
Deferred revenues | — | 699 | — | — | 699 | |||||||||||||||
Accrued expenses | 16,368 | 51,739 | 5,462 | — | 73,569 | |||||||||||||||
Total current liabilities | 17,125 | 93,082 | 10,626 | — | 120,833 | |||||||||||||||
Long-term debt, less current portion | 499,586 | 80 | — | — | 499,666 | |||||||||||||||
Noncurrent deferred income taxes | — | 163,122 | — | (78,486 | ) | 84,636 | ||||||||||||||
Other long-term liabilities | 394 | 5,195 | 466 | — | 6,055 | |||||||||||||||
Total liabilities | 517,105 | 261,479 | 11,092 | (78,486 | ) | 711,190 | ||||||||||||||
Total shareholders’ equity | 519,183 | 939,091 | 120,630 | (1,060,471 | ) | 518,433 | ||||||||||||||
Total liabilities and shareholders’ equity | $ | 1,036,288 | $ | 1,200,570 | $ | 131,722 | $ | (1,138,957 | ) | $ | 1,229,623 | |||||||||
December 31, 2012 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 18,479 | $ | (5,401 | ) | $ | 10,655 | $ | — | $ | 23,733 | |||||||||
Receivables, net of allowance | 440 | 129,570 | 29,128 | (294 | ) | 158,844 | ||||||||||||||
Intercompany receivable (payable) | (124,516 | ) | 146,652 | (22,136 | ) | — | — | |||||||||||||
Deferred income taxes | 869 | 8,162 | 2,027 | — | 11,058 | |||||||||||||||
Inventory | — | 5,956 | 6,155 | — | 12,111 | |||||||||||||||
Prepaid expenses and other current assets | 655 | 9,163 | 3,222 | — | 13,040 | |||||||||||||||
Total current assets | (104,073 | ) | 294,102 | 29,051 | (294 | ) | 218,786 | |||||||||||||
Net property and equipment | 3,474 | 921,393 | 90,223 | (750 | ) | 1,014,340 | ||||||||||||||
Investment in subsidiaries | 1,122,814 | 114,416 | — | (1,237,230 | ) | — | ||||||||||||||
Intangible assets, net of accumulated amortization | 68 | 43,775 | — | — | 43,843 | |||||||||||||||
Goodwill | — | 41,683 | — | — | 41,683 | |||||||||||||||
Noncurrent deferred income taxes | 51,834 | — | 5,519 | (51,834 | ) | 5,519 | ||||||||||||||
Other long-term assets | 9,582 | 2,340 | 3,683 | — | 15,605 | |||||||||||||||
Total assets | $ | 1,083,699 | $ | 1,417,709 | $ | 128,476 | $ | (1,290,108 | ) | $ | 1,339,776 | |||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Accounts payable | $ | 1,558 | $ | 76,828 | $ | 5,437 | $ | — | $ | 83,823 | ||||||||||
Current portion of long-term debt | — | 872 | — | — | 872 | |||||||||||||||
Deferred revenues | — | 1,954 | 1,926 | — | 3,880 | |||||||||||||||
Accrued expenses | 14,905 | 48,892 | 4,472 | (294 | ) | 67,975 | ||||||||||||||
Total current liabilities | 16,463 | 128,546 | 11,835 | (294 | ) | 156,550 | ||||||||||||||
Long-term debt, less current portion | 518,618 | 107 | — | — | 518,725 | |||||||||||||||
Noncurrent deferred income taxes | (4 | ) | 160,676 | — | (51,834 | ) | 108,838 | |||||||||||||
Other long-term liabilities | 192 | 5,566 | 2,225 | — | 7,983 | |||||||||||||||
Total liabilities | 535,269 | 294,895 | 14,060 | (52,128 | ) | 792,096 | ||||||||||||||
Total shareholders’ equity | 548,430 | 1,122,814 | 114,416 | (1,237,980 | ) | 547,680 | ||||||||||||||
Total liabilities and shareholders’ equity | $ | 1,083,699 | $ | 1,417,709 | $ | 128,476 | $ | (1,290,108 | ) | $ | 1,339,776 | |||||||||
Supplemental Guarantor Condensed Consolidated Statements of Operations | ' | |||||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||||||
(Unaudited, in thousands) | ||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Revenues | $ | — | $ | 844,555 | $ | 115,631 | $ | — | $ | 960,186 | ||||||||||
Costs and expenses: | ||||||||||||||||||||
Operating costs | — | 547,528 | 80,910 | — | 628,438 | |||||||||||||||
Depreciation and amortization | 1,113 | 173,516 | 13,289 | — | 187,918 | |||||||||||||||
General and administrative | 25,272 | 66,779 | 3,501 | (552 | ) | 95,000 | ||||||||||||||
Intercompany leasing | — | (4,860 | ) | 4,860 | — | — | ||||||||||||||
Bad debt expense (recovery) | 67 | 700 | — | — | 767 | |||||||||||||||
Impairment charges | — | 54,292 | — | — | 54,292 | |||||||||||||||
Total costs and expenses | 26,452 | 837,955 | 102,560 | (552 | ) | 966,415 | ||||||||||||||
Income (loss) from operations | (26,452 | ) | 6,600 | 13,071 | 552 | (6,229 | ) | |||||||||||||
Other (expense) income: | ||||||||||||||||||||
Equity in earnings of subsidiaries | 11,861 | 6,260 | — | (18,121 | ) | — | ||||||||||||||
Interest expense | (48,302 | ) | (37 | ) | 29 | — | (48,310 | ) | ||||||||||||
Other | 9 | 1,990 | (2,686 | ) | (552 | ) | (1,239 | ) | ||||||||||||
Total other (expense) income | (36,432 | ) | 8,213 | (2,657 | ) | (18,673 | ) | (49,549 | ) | |||||||||||
Income (loss) before income taxes | (62,884 | ) | 14,813 | 10,414 | (18,121 | ) | (55,778 | ) | ||||||||||||
Income tax (expense) benefit | 26,952 | (2,952 | ) | (4,154 | ) | — | 19,846 | |||||||||||||
Net income (loss) | $ | (35,932 | ) | $ | 11,861 | $ | 6,260 | $ | (18,121 | ) | $ | (35,932 | ) | |||||||
Year ended December 31, 2012 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Revenues | $ | — | $ | 779,163 | $ | 140,280 | $ | — | $ | 919,443 | ||||||||||
Costs and expenses: | ||||||||||||||||||||
Operating costs | — | 485,342 | 101,279 | — | 586,621 | |||||||||||||||
Depreciation and amortization | 873 | 142,972 | 20,872 | — | 164,717 | |||||||||||||||
General and administrative | 22,212 | 54,715 | 9,228 | (552 | ) | 85,603 | ||||||||||||||
Intercompany leasing | — | (4,860 | ) | 4,860 | — | — | ||||||||||||||
Bad debt expense (recovery) | — | (612 | ) | 172 | — | (440 | ) | |||||||||||||
Impairment charges | — | 1,131 | — | — | 1,131 | |||||||||||||||
Total costs and expenses | 23,085 | 678,688 | 136,411 | (552 | ) | 837,632 | ||||||||||||||
Income (loss) from operations | (23,085 | ) | 100,475 | 3,869 | 552 | 81,811 | ||||||||||||||
Other (expense) income: | ||||||||||||||||||||
Equity in earnings of subsidiaries | 68,352 | 4,029 | — | (72,381 | ) | — | ||||||||||||||
Interest expense | (37,011 | ) | (59 | ) | 21 | — | (37,049 | ) | ||||||||||||
Other | 268 | 940 | 968 | (552 | ) | 1,624 | ||||||||||||||
Total other (expense) income | 31,609 | 4,910 | 989 | (72,933 | ) | (35,425 | ) | |||||||||||||
Income (loss) before income taxes | 8,524 | 105,385 | 4,858 | (72,381 | ) | 46,386 | ||||||||||||||
Income tax (expense) benefit | 21,508 | (37,033 | ) | (829 | ) | — | (16,354 | ) | ||||||||||||
Net income (loss) | $ | 30,032 | $ | 68,352 | $ | 4,029 | $ | (72,381 | ) | $ | 30,032 | |||||||||
Year ended December 31, 2011 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Revenues | $ | — | $ | 606,402 | $ | 109,539 | $ | — | $ | 715,941 | ||||||||||
Costs and expenses: | ||||||||||||||||||||
Operating costs | — | 372,945 | 83,979 | — | 456,924 | |||||||||||||||
Depreciation and amortization | 847 | 119,520 | 12,465 | — | 132,832 | |||||||||||||||
General and administrative | 19,797 | 45,152 | 2,921 | (552 | ) | 67,318 | ||||||||||||||
Intercompany leasing | — | (4,860 | ) | 4,857 | 3 | — | ||||||||||||||
Bad debt expense (recovery) | — | 925 | — | — | 925 | |||||||||||||||
Impairment of equipment | — | 484 | — | — | 484 | |||||||||||||||
Total costs and expenses | 20,644 | 534,166 | 104,222 | (549 | ) | 658,483 | ||||||||||||||
Income (loss) from operations | (20,644 | ) | 72,236 | 5,317 | 549 | 57,458 | ||||||||||||||
Other (expense) income: | ||||||||||||||||||||
Equity in earnings of subsidiaries | 43,182 | (2,982 | ) | — | (40,200 | ) | — | |||||||||||||
Interest expense | (29,497 | ) | (248 | ) | 24 | — | (29,721 | ) | ||||||||||||
Other | 311 | 1,163 | (7,829 | ) | (549 | ) | (6,904 | ) | ||||||||||||
Total other (expense) income | 13,996 | (2,067 | ) | (7,805 | ) | (40,749 | ) | (36,625 | ) | |||||||||||
Income (loss) before income taxes | (6,648 | ) | 70,169 | (2,488 | ) | (40,200 | ) | 20,833 | ||||||||||||
Income tax expense (benefit) | 17,825 | (26,987 | ) | (494 | ) | — | (9,656 | ) | ||||||||||||
Net income (loss) | $ | 11,177 | $ | 43,182 | $ | (2,982 | ) | $ | (40,200 | ) | $ | 11,177 | ||||||||
Supplemental Guarantor Condensed Consolidated Statements of Cash Flows | ' | |||||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||||||
(Unaudited, in thousands) | ||||||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Cash flows from operating activities | $ | 31,908 | $ | 142,225 | $ | 447 | $ | 174,580 | ||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Purchases of property and equipment | (2,649 | ) | (151,363 | ) | (11,344 | ) | (165,356 | ) | ||||||||||||
Proceeds from sale of property and equipment | 8 | 12,510 | 1,318 | 13,836 | ||||||||||||||||
Proceeds from insurance recoveries | — | 844 | — | 844 | ||||||||||||||||
(2,641 | ) | (138,009 | ) | (10,026 | ) | (150,676 | ) | |||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Debt repayments | (60,000 | ) | (874 | ) | — | (60,874 | ) | |||||||||||||
Proceeds from issuance of debt | 40,000 | — | — | 40,000 | ||||||||||||||||
Debt issuance costs | (13 | ) | — | — | (13 | ) | ||||||||||||||
Proceeds from exercise of options | 1,266 | — | — | 1,266 | ||||||||||||||||
Purchase of treasury stock | (631 | ) | — | — | (631 | ) | ||||||||||||||
(19,378 | ) | (874 | ) | — | (20,252 | ) | ||||||||||||||
Net increase (decrease) in cash and cash equivalents | 9,889 | 3,342 | (9,579 | ) | 3,652 | |||||||||||||||
Beginning cash and cash equivalents | 18,479 | (5,401 | ) | 10,655 | 23,733 | |||||||||||||||
Ending cash and cash equivalents | $ | 28,368 | $ | (2,059 | ) | $ | 1,076 | $ | 27,385 | |||||||||||
Year ended December 31, 2012 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Cash flows from operating activities | $ | (171,541 | ) | $ | 338,418 | $ | 32,489 | $ | 199,366 | |||||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Purchases of property and equipment | (2,187 | ) | (332,082 | ) | (30,055 | ) | (364,324 | ) | ||||||||||||
Proceeds from sale of property and equipment | — | 2,998 | 95 | 3,093 | ||||||||||||||||
(2,187 | ) | (329,084 | ) | (29,960 | ) | (361,231 | ) | |||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Debt repayments | — | (856 | ) | (18 | ) | (874 | ) | |||||||||||||
Proceeds from issuance of debt | 100,000 | — | — | 100,000 | ||||||||||||||||
Debt issuance costs | (58 | ) | — | — | (58 | ) | ||||||||||||||
Proceeds from exercise of options | 693 | — | — | 693 | ||||||||||||||||
Purchase of treasury stock | (360 | ) | — | — | (360 | ) | ||||||||||||||
100,275 | (856 | ) | (18 | ) | 99,401 | |||||||||||||||
Net increase (decrease) in cash and cash equivalents | (73,453 | ) | 8,478 | 2,511 | (62,464 | ) | ||||||||||||||
Beginning cash and cash equivalents | 91,932 | (13,879 | ) | 8,144 | 86,197 | |||||||||||||||
Ending cash and cash equivalents | $ | 18,479 | $ | (5,401 | ) | $ | 10,655 | $ | 23,733 | |||||||||||
Year ended December 31, 2011 | ||||||||||||||||||||
Parent | Guarantor | Non-Guarantor | Consolidated | |||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||
Cash flows from operating activities | $ | (164,032 | ) | $ | 300,198 | $ | 8,713 | $ | 144,879 | |||||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Acquisition of production services business of Go-Coil | — | (109,035 | ) | — | (109,035 | ) | ||||||||||||||
Acquisition of other production services businesses | — | (6,502 | ) | — | (6,502 | ) | ||||||||||||||
Purchases of property and equipment | (485 | ) | (200,887 | ) | (8,694 | ) | (210,066 | ) | ||||||||||||
Proceeds from sale of property and equipment | 7 | 5,532 | 11 | 5,550 | ||||||||||||||||
Proceeds from sale of auction rate securities | 12,569 | — | — | 12,569 | ||||||||||||||||
12,091 | (310,892 | ) | (8,683 | ) | (307,484 | ) | ||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Debt repayments | (111,813 | ) | (1,345 | ) | — | (113,158 | ) | |||||||||||||
Proceeds from issuance of debt | 250,750 | — | — | 250,750 | ||||||||||||||||
Debt issuance costs | (7,285 | ) | — | — | (7,285 | ) | ||||||||||||||
Proceeds from exercise of options | 2,884 | — | — | 2,884 | ||||||||||||||||
Proceeds from common stock, net of offering costs of $5,707 | 94,343 | — | — | 94,343 | ||||||||||||||||
Purchase of treasury stock | (743 | ) | — | — | (743 | ) | ||||||||||||||
228,136 | (1,345 | ) | — | 226,791 | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 76,195 | (12,039 | ) | 30 | 64,186 | |||||||||||||||
Beginning cash and cash equivalents | 15,737 | (1,840 | ) | 8,114 | 22,011 | |||||||||||||||
Ending cash and cash equivalents | $ | 91,932 | $ | (13,879 | ) | $ | 8,144 | $ | 86,197 | |||||||||||
Organization_and_Summary_of_Si3
Organization and Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||
Oct. 02, 2012 | Jan. 19, 2011 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 19, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Nov. 15, 2011 | Oct. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2012 | Sep. 30, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Jan. 01, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Day | Fair Value, Inputs, Level 3 [Member] | Income Approach Valuation Technique [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | Trademarks and Trade Names [Member] | Trademarks and Trade Names [Member] | Options Held [Member] | Options Held [Member] | Well Service Rigs [Member] | Drilling Rigs [Member] | Wireline Units [Member] | Coiled Tubing Units [Member] | Fishing and Rental Tools and Equipment [Member] | Drilling Rigs [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Production Services Segment [Member] | Production Services Segment [Member] | Production Services Segment [Member] | Production Services Segment [Member] | Term Contract [Member] | Term Contract [Member] | Term Contract [Member] | Term Contract [Member] | Term Contract [Member] | Construction completed [Member] | Construction completed [Member] | Construction completed [Member] | Daywork Drilling Contract [Member] | Daywork Drilling Contract [Member] | |||||||
Finite-Lived Intangible Assets [Member] | Fair Value, Inputs, Level 3 [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Other Assets [Member] | Other Income [Member] | drilling_rigs | drilling_rigs | drilling_rigs | drilling_rigs | drilling_rigs | drilling_rigs | drilling_rigs | Colombia [Member] | Colombia [Member] | Colombia [Member] | Deployed in 2012 [Member] | coiled_tubing_units | Fishing and Rental Tools and Equipment [Member] | 550 Horsepower [Member] | 600 Horsepower [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | ||||||||||||||||
Goodwill [Member] | drilling_rigs | Drilling Rigs [Member] | Drilling Rigs [Member] | Currently Under Drilling Contract [Member] | wireline_tubing_units | well_service_rigs | well_service_rigs | drilling_rigs | Currently Under Drilling Contract [Member] | Deployed in 2012 [Member] | Deployed in 2012 [Member] | Deployed in 2012 [Member] | Deployed in 2012 [Member] | Deployed in 2012 [Member] | Deployed in first quarter 2013 [Member] | ||||||||||||||||||||||||||||||||
drilling_rigs | drilling_rigs | drilling_rigs | well_service_rigs | Colombia [Member] | Colombia [Member] | Currently Under Drilling Contract [Member] | Currently Under Drilling Contract [Member] | drilling_rigs | drilling_rigs | drilling_rigs | |||||||||||||||||||||||||||||||||||||
drilling_rigs | drilling_rigs | drilling_rigs | Colombia [Member] | ||||||||||||||||||||||||||||||||||||||||||||
drilling_rigs | |||||||||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sensitivity Analysis of Fair Value, Change in Impairment Due to Change in Assumption, Impact of One Percent Increase of Pricing Assumption | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | $3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Drilling Rigs Under Term Contract To Be Built | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' | 7 | 10 | 3 | ' | ' |
Segment Reporting Information, Disposed Drililng Rigs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 8 | ' | 2 | 2 | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Significant Acquisitions and Disposals, Gain (Loss) on Sale or Disposal, Pretax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information, Drilling Rigs Held for Sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment charges | ' | ' | ' | 54,292,000 | 1,131,000 | 484,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,200,000 | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Drilling Rigs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62 | 8 | 5 | 5 | 50 | ' | ' | ' | ' | ' | 8 | 7 | 39 | 6 | ' | ' | ' | ' | ' |
Well Service Rigs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 109 | ' | 99 | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Wireline Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 119 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Coiled Tubing Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Gross | ' | ' | ' | 1,724,124,000 | 1,698,517,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 205,409,000 | 1,223,621,000 | 128,800,000 | 47,761,000 | 17,264,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue Recognition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred revenues | ' | ' | ' | 699,000 | 3,880,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Costs in Excess of Billings, Current | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Revenue, Noncurrent | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Costs in Excess of Billings, Noncurrent | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recognition of Deferred Revenue | ' | ' | ' | 5,300,000 | 6,300,000 | 5,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average Term to Drill Individual Well, Maximum | ' | ' | ' | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and Cash Equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Equivalents, at Carrying Value | ' | ' | ' | 700,000 | 3,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unbilled Accounts Receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Billing Invoice Interval, Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15 days | ' |
Unbilled receivables | ' | ' | ' | 49,535,000 | 35,140,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45,400,000 |
Investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Auction Market Preferred Securities, Stock Series, Value | ' | ' | ' | ' | ' | ' | 15,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | ' | 12,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Auction Market Preferred Securities, Sales price as a Percentage of Par Value | ' | 79.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of investments | ' | ' | ' | ' | ' | ' | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Asset, Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for (Proceeds from) Other Investing Activities | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Asset, Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '7 years | '2 years | '9 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of Intangible Assets | ' | ' | ' | 8,500,000 | 8,700,000 | 4,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | ' | ' | ' | 8,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | ' | ' | ' | 7,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | ' | ' | ' | 5,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | ' | ' | ' | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | ' | ' | ' | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of Intangible Assets, Finite-lived | ' | ' | 3,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Impairment Loss | ' | ' | 41,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sensitivity Analysis of Fair Value, Change in Impairment Due to Change in Assumption, Impact of One Percent Decrease of Pricing Assumption | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sensitivity Analysis of Fair Value, Change in Impairment De to Change in Assumption, Impact of One Percent Increase of Utilization Assumption | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sensitivity Analysis of Fair Value, Change in Impairment Due to Change in Assumption Impact of One Percent Decrease of Utilization Assumption | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sensitivity Analysis of Fair Value, Change in Impairment Due to Change in Assumption, Impact of Five Percent Decrease of Discount Rate Assumption | ' | ' | ' | ' | ' | ' | ' | ' | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Inputs, Discount Rate | ' | ' | ' | ' | ' | ' | ' | ' | 13.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | ' | $0 | $0 | $41,683,000 | $41,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Organization_and_Summary_of_Si4
Organization and Summary of Significant Accounting Policies (Drilling Services Segment) (Details) (Drilling Services Segment [Member]) | Dec. 31, 2013 |
drilling_rigs | |
Accounting Policies [Line Items] | ' |
Drilling Rigs | 62 |
South Texas [Member] | ' |
Accounting Policies [Line Items] | ' |
Drilling Rigs | 14 |
West Texas [Member] | ' |
Accounting Policies [Line Items] | ' |
Drilling Rigs | 18 |
North Dakota [Member] | ' |
Accounting Policies [Line Items] | ' |
Drilling Rigs | 11 |
UTAH | ' |
Accounting Policies [Line Items] | ' |
Drilling Rigs | 7 |
Appalachia [Member] | ' |
Accounting Policies [Line Items] | ' |
Drilling Rigs | 4 |
Colombia [Member] | ' |
Accounting Policies [Line Items] | ' |
Drilling Rigs | 8 |
Organization_and_Summary_of_Si5
Organization and Summary of Significant Accounting Policies (Drilling Contracts) (Details) (Drilling Services Segment [Member]) | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 01, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
drilling_rigs | Colombia [Member] | Term Contract [Member] | Active [Member] | Active [Member] | Active [Member] | Active [Member] | Active [Member] | Minimum [Member] | Maximum [Member] | |
drilling_rigs | Currently Under Drilling Contract [Member] | Currently Under Drilling Contract [Member] | Term Contract [Member] | Term Contract [Member] | Term Contract [Member] | Term Contract [Member] | ||||
Colombia [Member] | drilling_rigs | Colombia [Member] | Currently Under Drilling Contract [Member] | Currently Under Drilling Contract [Member] | Currently Under Drilling Contract [Member] | |||||
drilling_rigs | drilling_rigs | drilling_rigs | United States [Member] | Colombia [Member] | ||||||
drilling_rigs | drilling_rigs | |||||||||
Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Drilling Rigs, Contractual Term | ' | ' | ' | ' | ' | ' | ' | ' | 'six months | '4 years |
Drilling Rigs | 62 | 8 | 8 | 50 | 7 | 39 | 33 | 6 | ' | ' |
Assigned Drilling Rigs, Number of Contracts Expiring in Six Months | ' | ' | ' | ' | ' | 18 | 18 | 0 | ' | ' |
Assigned Drilling Rigs, Number of Contracts Expiring in One Year | ' | ' | ' | ' | ' | 10 | 4 | 6 | ' | ' |
Assigned Drilling Rigs, Number of Contracts Expiring in Eighteen Months | ' | ' | ' | ' | ' | 5 | 5 | ' | ' | ' |
Assigned Drilling Rigs, Number of Contracts Expiring in Two Years | ' | ' | ' | ' | ' | 1 | 1 | ' | ' | ' |
Assigned Drilling Rigs, Number of Contracts Expiring in Four Years | ' | ' | ' | ' | ' | 5 | 5 | ' | ' | ' |
Organization_and_Summary_of_Si6
Organization and Summary of Significant Accounting Policies (Changes in Allowance for Doubtful Accounts) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Accounts receivable age, individually reviewed for collectibility | 90 | ' | ' | ' |
Allowance for Doubtful Accounts [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Valuation Allowances and Reserves, Balance | $1,356 | $1,044 | $994 | $712 |
Valuation Allowances and Reserves, Increase (Decrease) Charged to Cost and Expense | -801 | -76 | -787 | ' |
Valuation Allowances and Reserves, Deductions | $489 | $26 | $505 | ' |
Drilling Services Segment [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Payment Term in Days for services invoiced, Average | 30 | ' | ' | ' |
Payment Term in Days for services invoiced, Maximum | 90 | ' | ' | ' |
Production Services Segment [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Payment Term in Days for services invoiced, Average | 30 | ' | ' | ' |
Organization_and_Summary_of_Si7
Organization and Summary of Significant Accounting Policies (Intangible Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounting Policies [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Net | $32,269 | $43,843 |
Customer Relationships [Member] | ' | ' |
Accounting Policies [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 63,168 | 66,273 |
Finite-Lived Intangible Assets, Accumulated Amortization | 31,584 | 23,667 |
Noncompete Agreements [Member] | ' | ' |
Accounting Policies [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 1,355 | 1,355 |
Finite-Lived Intangible Assets, Accumulated Amortization | 745 | 436 |
Trademarks and Trade Names [Member] | ' | ' |
Accounting Policies [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | 575 | 568 |
Finite-Lived Intangible Assets, Accumulated Amortization | 500 | 250 |
Go-Coil [Member] | ' | ' |
Accounting Policies [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Net | $21,800 | ' |
Acquisitions_Acquisitions_Deta
Acquisitions Acquisitions (Details) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 |
Go-Coil [Member] | Go-Coil [Member] | Go-Coil [Member] | Other production services businesses [Member] | |||||
Onshore [Member] | Offshore [Member] | Buniesses_Acquired | ||||||
coiled_tubing_units | coiled_tubing_units | wireline_tubing_units | ||||||
well_service_rigs | ||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Coiled Tubing Units | ' | ' | ' | ' | ' | 7 | 3 | ' |
Business Acquisition Nonrecurring Costs For Discontinued Compensation Arrangements and Acquisition Related Costs That Have Been Excluded From Pro Forma Net Income (Loss) | ' | ' | ' | ' | $14,100,000 | ' | ' | ' |
Number of Businesses Acquired | ' | ' | ' | ' | ' | ' | ' | 4 |
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | ' | ' | 6,500,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | ' | ' | ' | ' | 30,103,000 | ' | ' | 5,200,000 |
Wireline Units | ' | ' | ' | ' | ' | ' | ' | 6 |
Well Service Rigs | ' | ' | ' | ' | ' | ' | ' | 2 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | ' | ' | ' | ' | ' | ' | ' | 1,300,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | ' | ' | ' | ' | 313,000 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | ' | ' | ' | ' | 9,068,000 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | ' | ' | ' | ' | 114,862,000 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | ' | ' | ' | ' | 4,337,000 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | ' | ' | ' | ' | 131,000 | ' | ' | ' |
Business Acquisition, Pro Forma Revenue | ' | ' | ' | ' | 762,978,000 | ' | ' | ' |
Goodwill | 0 | 0 | 41,683,000 | 41,700,000 | 41,683,000 | ' | ' | ' |
Business Acquisition, Pro Forma Net Income (Loss) | ' | ' | ' | ' | 8,412,000 | ' | ' | ' |
Business Acquisition, Pro Forma Earnings Per Share, Basic | ' | ' | ' | ' | $0.15 | ' | ' | ' |
Business Acquisition, Pro Forma Earnings Per Share, Diluted | ' | ' | ' | ' | $0.14 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | ' | ' | ' | ' | 4,468,000 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | ' | ' | ' | ' | 110,394,000 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, and Other Assets | ' | ' | ' | ' | $33,695,000 | ' | ' | ' |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 15, 2011 | Oct. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2012 | Sep. 30, 2011 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | |
Drilling Rigs [Member] | Drilling Rigs [Member] | Drilling Rigs [Member] | Well Service Rigs [Member] | Well Service Rigs [Member] | Well Service Rigs [Member] | Wireline Units [Member] | Wireline Units [Member] | Wireline Units [Member] | Coiled Tubing Units [Member] | Coiled Tubing Units [Member] | Coiled Tubing Units [Member] | Fishing and Rental Tools and Equipment [Member] | Fishing and Rental Tools and Equipment [Member] | Fishing and Rental Tools and Equipment [Member] | Vehicles [Member] | Vehicles [Member] | Vehicles [Member] | Office Equipment [Member] | Office Equipment [Member] | Office Equipment [Member] | Building and Building Improvements [Member] | Building and Building Improvements [Member] | Building and Building Improvements [Member] | Land [Member] | Land [Member] | Land [Member] | Production Services Segment [Member] | Production Services Segment [Member] | Production Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Drilling Services Segment [Member] | Production Services Segment [Member] | Drilling Rigs [Member] | ||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Fishing and Rental Tools and Equipment [Member] | drilling_rigs | drilling_rigs | drilling_rigs | drilling_rigs | drilling_rigs | drilling_rigs | ||||||||||||||||||
term_contracts | ||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Gross | $1,724,124,000 | $1,698,517,000 | ' | $1,223,621,000 | ' | ' | $205,409,000 | ' | ' | $128,800,000 | ' | ' | $47,761,000 | ' | ' | $17,264,000 | ' | ' | $65,796,000 | ' | ' | $9,274,000 | ' | ' | $23,931,000 | ' | ' | $2,268,000 | ' | ' | ' | ' | $17,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life | ' | ' | ' | ' | '3 years | '25 years | ' | '3 years | '20 years | ' | '2 years | '10 years | ' | '1 year | '7 years | ' | '3 years | '15 years | ' | '3 years | '20 years | ' | '3 years | '10 years | ' | '3 years | '40 years | ' | '0 years | '0 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Construction in Progress, Gross | 19,400,000 | 134,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment charges | 54,292,000 | 1,131,000 | 484,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,200,000 | ' | ' | ' | 500,000 | 304,000 | ' |
Segment Reporting Information, Drilling Rigs Held for Sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 |
Segment Reporting Information, Disposed Drililng Rigs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 8 | ' | 2 | 2 | 7 | ' | ' | ' |
Segment Reporting Information, Disposed Wireline Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Costs Capitalized | 900,000 | 10,200,000 | 2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Disposition of Property Plant Equipment | 1,400,000 | 1,200,000 | -200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Significant Acquisitions and Disposals, Gain (Loss) on Sale or Disposal, Pretax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $800,000 | ' | ' | ' | ' | ' |
Segment Reporting Information, Drilling Rigs Held-for-use | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' |
Debt_Details
Debt (Details) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | ||||||||||||||
Jun. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jun. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2013 | Mar. 11, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 11, 2010 | Nov. 21, 2011 | Dec. 31, 2013 | Jun. 30, 2011 | Jun. 30, 2011 | Dec. 31, 2013 | Jun. 30, 2011 | Jun. 30, 2011 | |
Senior secured revolving credit facility [Member] | Senior secured revolving credit facility [Member] | Senior secured revolving credit facility [Member] | Senior secured revolving credit facility [Member] | Senior secured revolving credit facility [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes, Issued [Member] | Senior Notes, Issued [Member] | Senior Notes, 2010 [Member] | Senior Notes, 2011 [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | Prime Rate [Member] | Prime Rate [Member] | Prime Rate [Member] | |||||
Minimum [Member] | Maximum [Member] | Alternative Testing for Covenant [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior secured revolving credit facility [Member] | Senior secured revolving credit facility [Member] | Senior secured revolving credit facility [Member] | Senior secured revolving credit facility [Member] | Senior secured revolving credit facility [Member] | Senior secured revolving credit facility [Member] | |||||||||||
Minimum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | ' | $502,513,000 | $519,597,000 | ' | ' | ' | ' | ' | ' | ' | ' | $419,586,000 | $418,617,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | 2.50% | 3.25% | 1.75% | 1.50% | 2.25% |
Debt Instrument Stated Percentage of Outstanding Equity Interests of First Tier Foreign Subsidiaries That Secure Debt Obligations | ' | ' | ' | ' | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | 80,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | ' | 156,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of Indebtedness to Net Capital | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of Indebtedness to Net Capital, Senior | ' | ' | ' | ' | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of Interest Coverage | ' | ' | ' | ' | 5.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant Compliance, Ratio of Indebtedness to Net Capital | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant Compliance, Ratio of Indebtedness to Net Capital, Senior | ' | ' | ' | ' | ' | ' | ' | 2.5 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant Compliance, Ratio of Interest Coverage | ' | ' | ' | ' | ' | ' | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant Compliance, Ratio of Asset Coverage | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant Compliance, Line of Credit Facility, Remaining Borrowing Capacity After Capital Expenditures Adjustment To Avoid Future Capital Expenditures Restrictions | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant Compliance, Capital Expenditure Limitation Threshold, Ratio of Indebtedness to Net Capital, Senior | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Expenditure Limitation During Fiscal Year To Be Imposed If Covenant Noncompliance, Exceeding Stated Senior Consolidated Leverage Ratio | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Expenditure Limitation Maximum Amount Unused From Prior Fiscal Year Available to Increase Current Year Capital Expenditure Threshold If Restrictions Imposed Due to Noncompliance | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 425,000,000 | ' | ' | ' | 250,000,000 | 175,000,000 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.88% | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,700,000 | ' | ' | ' | 10,600,000 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.68% | 9.66% | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 234,800,000 | 172,700,000 | ' | ' | ' | ' | ' | ' |
Deferred Finance Costs, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,600,000 | 4,100,000 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Actual Value to Face Value, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95.75% | 101.00% | ' | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | 1,800,000 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Redeemable with Equity Issuance Proceeds, Required Repurchase Due to Change in Control Redemption Price, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Redeemable with Equity Issuance Proceeds, Required Repurchase Due to Asset Disposition, Redemption Price, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Finance Costs [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Finance Costs, Net | ' | 7,500,000 | 9,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of Financing Costs | ' | 2,100,000 | 2,100,000 | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write off of Deferred Debt Issuance Cost | $600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Schedule_of_Longterm_Debt
Debt (Schedule of Long-term Debt) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | $502,513 | $519,597 |
Long-term Debt, Current Maturities | -2,847 | -872 |
Long-term Debt, Excluding Current Maturities | 499,666 | 518,725 |
Other Debt Obligations [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 2,927 | 980 |
Senior Notes [Member] | Senior Notes, Issued [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 419,586 | 418,617 |
Revolving Credit Facility [Member] | Senior secured revolving credit facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | $80,000 | $100,000 |
Leases_Details
Leases (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Operating Leased Assets [Line Items] | ' | ' | ' |
Operating Leases, Rent Expense, Net | $6,000,000 | $5,600,000 | $3,600,000 |
Future Lease Obligations Required | ' | ' | ' |
2014 | 5,032,000 | ' | ' |
2015 | 2,987,000 | ' | ' |
2016 | 2,428,000 | ' | ' |
2017 | 2,024,000 | ' | ' |
2018 | 1,082,000 | ' | ' |
Thereafter | 1,366,000 | ' | ' |
Operating Leases, Future Minimum Payments Due | 14,919,000 | ' | ' |
Corporate Office [Member] | Minimum [Member] | ' | ' | ' |
Operating Leased Assets [Line Items] | ' | ' | ' |
Operating Leases, Future Monthly Lease Payments | 40,373 | ' | ' |
Corporate Office [Member] | Maximum [Member] | ' | ' | ' |
Operating Leased Assets [Line Items] | ' | ' | ' |
Operating Leases, Future Monthly Lease Payments | $46,920 | ' | ' |
Other Noncancelable [Member] | ' | ' | ' |
Operating Leased Assets [Line Items] | ' | ' | ' |
Operating Lease, Number of Leased Locations | 52 | ' | ' |
Income_Taxes_Details_Details
Income Taxes Details (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' |
Capital loss carryforward | $1,008,000 | $1,008,000 |
Deferred Tax Assets, Federal and State Net Operating Loss and Alternative Minimum Tax Credit Carryforward | 69,160,000 | 94,605,000 |
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | 5,361,000 | 3,411,000 |
Undistributed Earnings of Foreign Subsidiaries | ' | 18,000,000 |
Foreign Statutory Rate, previous | 33.00% | ' |
Foreign Statutory Rate, current | 25.00% | ' |
Foreign equality tax rate | 9.00% | ' |
Combined foreign statutory tax rate | 34.00% | ' |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $1,700,000 | ' |
Income_Taxes_Schedule_of_Incom
Income Taxes (Schedule of Income before Income Tax, Domestic and Foreign) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Domestic | ($66,147) | $42,194 | $23,396 |
Foreign | 10,369 | 4,192 | -2,563 |
Income (loss) before income taxes | ($55,778) | $46,386 | $20,833 |
Income_Taxes_Schedule_of_Compo
Income Taxes (Schedule of Components of Income Tax Expense) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | ($380) | $236 | $716 |
State | ' | ' | ' | ' | ' | ' | ' | ' | 879 | 1,214 | 1,090 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 2,302 | 1,479 | 1,301 |
Current Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 2,801 | 2,929 | 3,107 |
Deferred taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | -21,034 | 15,013 | 7,199 |
State | ' | ' | ' | ' | ' | ' | ' | ' | -3,520 | -749 | 102 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 1,907 | -839 | -752 |
Deferred Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -22,647 | 13,425 | 6,549 |
Income tax expense (benefit) | ($733) | ($3,614) | ($14,953) | ($546) | $1,943 | $1,461 | $5,997 | $6,953 | ($19,846) | $16,354 | $9,656 |
Income_Taxes_Schedule_of_Effec
Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ($19,522) | $16,235 | $7,291 |
State income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -1,717 | 302 | 775 |
Incentive stock options | ' | ' | ' | ' | ' | ' | ' | ' | 66 | 43 | 41 |
Valuation allowance | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -206 | 0 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | -61 | 91 | -409 |
Income tax expense (benefit) | -733 | -3,614 | -14,953 | -546 | 1,943 | 1,461 | 5,997 | 6,953 | -19,846 | 16,354 | 9,656 |
Foreign Country [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nondeductible items for tax purposes | ' | ' | ' | ' | ' | ' | ' | ' | 525 | -881 | 1,391 |
Domestic Country [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nondeductible items for tax purposes | ' | ' | ' | ' | ' | ' | ' | ' | $863 | $770 | $567 |
Income_Taxes_Schedule_of_Incom1
Income Taxes (Schedule of Income Tax (Expense), Intraperiod Allocation) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Results of operations | ($733) | ($3,614) | ($14,953) | ($546) | $1,943 | $1,461 | $5,997 | $6,953 | ($19,846) | $16,354 | $9,656 |
Stockholders' equity | ' | ' | ' | ' | ' | ' | ' | ' | 321 | 449 | 254 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ($19,525) | $16,803 | $9,910 |
Income_Taxes_Schedule_of_Defer
Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Components of Deferred Tax Assets [Abstract] | ' | ' |
Capital loss carryforward | $1,008 | $1,008 |
Intangibles | 36,442 | 19,918 |
Employee benefits and insurance claims accruals | 9,332 | 8,273 |
Accounts receivable reserve | 501 | 370 |
Employee stock-based compensation | 8,905 | 8,225 |
Accrued expenses not deductible for tax purposes | 749 | 1,066 |
Accrued revenue not income for book purposes | 942 | 1,399 |
Federal and state net operating loss and AMT credit carryforward | 94,605 | 69,160 |
Foreign net operating loss carryforward | 3,411 | 5,361 |
Deferred Tax Assets, Gross | 155,895 | 114,780 |
Valuation allowance | -1,008 | -1,008 |
Total deferred tax assets | 154,887 | 113,772 |
Components of Deferred Tax Liabilities [Abstract] | ' | ' |
Property and equipment | 225,275 | 206,033 |
Total deferred tax liabilities | 225,275 | 206,033 |
Net deferred tax liabilities | $70,388 | $92,261 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Carrying Amount [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total debt | $502,513 | $519,597 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Total debt | $538,074 | $565,257 |
Earnings_Per_Common_Share_Narr
Earnings Per Common Share (Narrative) (Details) (Stock Compensation Plan [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock Compensation Plan [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 5,507,765 | 4,311,645 | 2,430,141 |
Earnings_Per_Common_Share_Reco
Earnings Per Common Share (Reconciliation of Earnings (loss) Per Common Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ($2,515) | ($6,230) | ($25,895) | ($1,292) | $3,560 | $2,615 | $9,685 | $14,172 | ($35,932) | $30,032 | $11,177 |
Weighted-average shares, outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 62,213 | 61,780 | 57,390 |
Income (loss) per share | ($0.04) | ($0.10) | ($0.42) | ($0.02) | $0.06 | $0.04 | $0.16 | $0.23 | ($0.58) | $0.49 | $0.19 |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ($2,515) | ($6,230) | ($25,895) | ($1,292) | $3,560 | $2,615 | $9,685 | $14,172 | ($35,932) | $30,032 | $11,177 |
Weighted average shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average shares, outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 62,213 | 61,780 | 57,390 |
Diluted effect of stock options, restricted stock, and restricted stock unit awards | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 982 | 1,389 |
Weighted-average shares, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 62,213 | 62,762 | 58,779 |
Income (loss) per share | ($0.04) | ($0.10) | ($0.42) | ($0.02) | $0.06 | $0.04 | $0.15 | $0.23 | ($0.58) | $0.48 | $0.19 |
Equity_Transactions_and_StockB2
Equity Transactions and Stock-Based Compensation Plans (Narrative) (Details) (USD $) | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||
Jul. 20, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 18-May-12 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jan. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jan. 31, 2013 | |
Common Stock [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | ||||||
Performance-Based RSUs, 2013 [Member] | Time-Based RSUs [Member] | Time-Based RSUs [Member] | Time-Based RSUs [Member] | Performance-Based RSUs, 2012 [Member] | Performance-Based RSUs, 2012 [Member] | Performance-Based RSUs, 2011 [Member] | Performance-Based RSUs, 2011 [Member] | Performance-Based RSUs [Member] | Performance-Based RSUs [Member] | Performance-Based RSUs [Member] | Approved Grant of Stock-based Compensation [Member] | Approved Grant of Stock-based Compensation [Member] | Maximum [Member] | Approved Grant of Stock-based Compensation [Member] | Approved Grant of Stock-based Compensation [Member] | ||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | ' | $4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | ' | 4,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Additional Number of Shares Granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 669,051 | ' | ' | ' | ' | ' | ' | ' | ' | 221,440 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | ' | ' | ' | ' | ' | ' | ' | ' | 627,712 | 531,526 | 272,951 | ' | ' | ' | ' | 673,762 | 355,051 | 139,089 | ' | ' | 105,204 | 142,820 | 281,836 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Outstanding, Number | ' | 757,041 | 1,130,844 | 1,531,237 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | ' | 5,532,213 | 5,649,991 | 5,563,348 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Issuance Value Per Share | ' | $8.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Common Stock | 94,300,000 | 0 | 0 | 94,343,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | ' | ' | 6,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Price Per Share | $14.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | 220,656 | 530,156 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | '39 months | '3 years | ' | ' | '39 months | ' | ' | '39 months | ' | ' | ' | '3 years | ' | '1 year | '3 years | ' | ' | '3 years | ' | ' | '3 years | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | -270,934 | -172,416 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | ' | $4.67 | $4.02 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | ' | ' | ' | ' | ' | ' | 406,027 | 356,813 | ' | ' | ' | ' | ' | 346,731 | 221,495 | ' | ' | ' | 61,248 | 49,748 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | $7.59 | $8.21 | ' | ' | ' | ' | ' | $8.34 | $9.85 | ' | ' | ' | $7.51 | $8.04 | ' | ' | ' | ' | ' | ' | ' |
Performance-based RSU performance period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Estimated Achievement Level, Percentage | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | 110.00% | 120.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Basis for Determining Award on Market Factors, Percentage | ' | ' | ' | ' | ' | ' | ' | 33.33% | ' | ' | ' | 33.33% | ' | ' | 33.33% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award Basis for Determining Award on Individual Performance Factors Percentage | ' | ' | ' | ' | ' | ' | ' | 66.67% | ' | ' | ' | 66.67% | ' | ' | 66.67% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | ' | $10.18 | $10.09 | $10.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | ' | '5 years 29 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | ' | $7.58 | $8.72 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | ' | -67,500 | -271,097 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | ' | $16.02 | $13.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | ' | 4,775,172 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | ' | $10.45 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | ' | '4 years 7 months 2 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Outstanding, Weighted Average Grant Date Price | ' | $4.74 | $4.89 | $3.98 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Grants in Period, Weighted Average Grant Date Price | ' | $4.36 | $5.02 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.36 | $5.02 | $4.69 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Vested in Period, Number | ' | -594,459 | -901,817 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Vested in Period, Weighted Average Grant Date Price | ' | $4.88 | $3.42 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Forfeitures in Period | ' | ' | -28,732 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Forfeitures in Preiod, Weighted Average Grant Date Price | ' | ' | $4.74 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | $7.93 | $9.16 | $10.76 | ' | ' | ' | ' | $9.19 | $9.99 | $10.23 | ' | ' | $8.18 | $8.67 | $7.18 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | ' | ' | ' | ' | ' | ' | ' | ' | -254,629 | -72,259 | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | -98,864 | -184,081 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | $9.82 | $10.07 | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | $8.47 | $6.21 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | ' | ' | ' | ' | ' | ' | ' | ' | -55,212 | -25,979 | ' | ' | ' | ' | ' | -28,020 | -5,533 | ' | ' | ' | ' | -4,683 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | $8.60 | $10.34 | ' | ' | ' | ' | ' | $8.81 | $10.23 | ' | ' | ' | ' | $8.86 | ' | ' | ' | ' | ' | ' | ' |
Registration Statement, Stated Maximum Amount Available for Equity or Debt Offerings | ' | 300,000,000 | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | 1,182,475 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 856,866 | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | ' | ' | ' | ' | ' | ' | $4,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000 | ' | ' | ' | $800,000 | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | ' | ' | '1 year 3 months 11 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '0 years 6 months 0 days | ' | ' | ' | '0 years 7 months 17 days | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Adjusted to Performance Condition Evaluation Number | ' | ' | ' | ' | ' | ' | 721,751 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity_Transactions_and_StockB3
Equity Transactions and Stock-Based Compensation Plans (Allocation of Share-based Compensation Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation | $6,371 | $7,319 | $6,705 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation | 4,024 | 3,729 | 1,955 |
Stock Options [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation | 1,771 | 2,962 | 3,720 |
Restricted Stock [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation | $576 | $628 | $1,030 |
Equity_Transactions_and_StockB4
Equity Transactions and Stock-Based Compensation Plans (Assumptions Used for Stock Options Granted) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Options granted | 220,656 | 530,156 | ' |
Grant-date fair value | $4.36 | $5.02 | ' |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected volatility | 66.00% | 70.00% | 65.00% |
Risk-free interest rates | 1.00% | 0.80% | 1.50% |
Expected life in years | '5 years 6 months 10 days | '5 years 1 month 13 days | '4 years 3 months 29 days |
Grant-date fair value | $4.36 | $5.02 | $4.69 |
Equity_Transactions_and_StockB5
Equity Transactions and Stock-Based Compensation Plans (Schedule of Restricted Stock Unit Activity) (Details) (Restricted Stock Units (RSUs) [Member], USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Time-Based RSUs [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Granted, Number of Award Units | 406,027 | 356,813 |
Granted, Weighted-Average Grant-Date Fair Value per Unit | $7.59 | $8.21 |
Performance-Based RSUs [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Granted, Number of Award Units | 346,731 | 221,495 |
Granted, Weighted-Average Grant-Date Fair Value per Unit | $8.34 | $9.85 |
Employee_Benefit_Plans_and_Ins1
Employee Benefit Plans and Insurance (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $6 | $4.60 | $2.60 |
Self Insurance Program, Major Medical and Hospitialization, Liability per Employee or Dependent per Year, Maximum | 150,000 | ' | ' |
Employee-related Liabilities, Health Insurance, Self-insurance Program, Current | 3.1 | 2.5 | ' |
Self Insurance Program, Workers' Compensation Coverage per Incident, Maximum | 500,000 | ' | ' |
Self Insurance Program, General Liability Insurance, Deductible per Occurrence | 250,000 | ' | ' |
Accrued Insurance Premiums and Deductibles, Self Insurance Program, Workers' Compensation, General and Auto Liability Insurance | $7.30 | $6.10 | ' |
Segment_Information_Narrative_
Segment Information (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
segments | ||
Segment Reporting Information [Line Items] | ' | ' |
Number of Reportable Segments | 2 | ' |
Property, Plant and Equipment, Gross | $1,724,124 | $1,698,517 |
Fishing and Rental Tools and Equipment [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 17,264 | ' |
Drilling Rigs [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 1,223,621 | ' |
Drilling Services Segment [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Drilling Rigs | 62 | ' |
Production Services Segment [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Well Service Rigs | 109 | ' |
Wireline Units | 119 | ' |
Coiled Tubing Units | 13 | ' |
Production Services Segment [Member] | Fishing and Rental Tools and Equipment [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | $17,300 | ' |
Production Services Segment [Member] | 550 Horsepower [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Well Service Rigs | 99 | ' |
Production Services Segment [Member] | 600 Horsepower [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Well Service Rigs | 10 | ' |
Colombia [Member] | Drilling Services Segment [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Drilling Rigs | 8 | ' |
Colombia [Member] | Drilling Services Segment [Member] | Drilling Rigs [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Drilling Rigs | 5 | 5 |
Colombia [Member] | Drilling Services Segment [Member] | Assets Leased From Others [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Drilling Rigs | 3 | 3 |
Segment_Information_Schedule_o
Segment Information (Schedule of Drilling Service Segment Divisions) (Details) (Drilling Services Segment [Member]) | Dec. 31, 2013 |
drilling_rigs | |
Segment Reporting Information [Line Items] | ' |
Drilling Rigs | 62 |
South Texas [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Drilling Rigs | 14 |
West Texas [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Drilling Rigs | 18 |
North Dakota [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Drilling Rigs | 11 |
UTAH | ' |
Segment Reporting Information [Line Items] | ' |
Drilling Rigs | 7 |
Appalachia [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Drilling Rigs | 4 |
Colombia [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Drilling Rigs | 8 |
Segment_Information_Schedule_o1
Segment Information (Schedule of Segment Reporting Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
segments | |||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Reportable Segments | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' |
Identifiable assets | $1,229,623 | ' | ' | ' | $1,339,776 | ' | ' | ' | $1,229,623 | $1,339,776 | $1,172,754 |
Oil And Gas Drilling Services Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 528,327 | 498,867 | 433,902 |
Revenues | 238,183 | 243,979 | 248,354 | 229,670 | 227,868 | 229,773 | 229,824 | 231,978 | 960,186 | 919,443 | 715,941 |
Drilling Services Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 351,630 | 333,846 | 292,559 |
Production Services Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 431,859 | 420,576 | 282,039 |
Operating Costs | ' | ' | ' | ' | ' | ' | ' | ' | 628,438 | 586,621 | 456,924 |
Production Services Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 276,808 | 252,775 | 164,365 |
Segment Margin | ' | ' | ' | ' | ' | ' | ' | ' | 331,748 | 332,822 | 259,017 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 187,918 | 164,717 | 132,832 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 125,420 | 379,272 | 237,787 |
Drilling Services Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable assets | 791,820 | ' | ' | ' | 867,526 | ' | ' | ' | 791,820 | 867,526 | 667,588 |
Segment Margin | ' | ' | ' | ' | ' | ' | ' | ' | 176,697 | 165,021 | 141,343 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 122,201 | 108,151 | 99,302 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 78,708 | 265,966 | 168,120 |
Production Services Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable assets | 395,219 | ' | ' | ' | 439,113 | ' | ' | ' | 395,219 | 439,113 | 398,128 |
Segment Margin | ' | ' | ' | ' | ' | ' | ' | ' | 155,051 | 167,801 | 117,674 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 64,604 | 55,693 | 32,683 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 44,541 | 110,813 | 68,908 |
Corporate, Non-Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable assets | 42,584 | ' | ' | ' | 33,137 | ' | ' | ' | 42,584 | 33,137 | 107,038 |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating Costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Segment Margin | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 1,113 | 873 | 847 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | $2,171 | $2,493 | $759 |
Reconciliation_of_Revenue_from
(Reconciliation of Revenue from Segments to Consolidated) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Margin | ' | ' | ' | ' | ' | ' | ' | ' | $331,748 | $332,822 | $259,017 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -187,918 | -164,717 | -132,832 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | -95,000 | -85,603 | -67,318 |
Bad debt recovery (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -767 | 440 | -925 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | -54,292 | -1,131 | -484 |
Income (loss) from operations | $8,724 | $1,870 | ($27,268) | $10,445 | $15,529 | $13,222 | $23,312 | $29,748 | ($6,229) | $81,811 | $57,458 |
Segment_Information_Schedule_o2
Segment Information (Schedule of Revenues from External Customers and Long-Lived Assets) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indentifiable assets | $1,229,623 | ' | ' | ' | $1,339,776 | ' | ' | ' | $1,229,623 | $1,339,776 | $1,172,754 |
Revenues | 238,183 | 243,979 | 248,354 | 229,670 | 227,868 | 229,773 | 229,824 | 231,978 | 960,186 | 919,443 | 715,941 |
Drilling Services Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indentifiable assets | 791,820 | ' | ' | ' | 867,526 | ' | ' | ' | 791,820 | 867,526 | 667,588 |
Drilling Rigs | 62 | ' | ' | ' | ' | ' | ' | ' | 62 | ' | ' |
Drilling Services Segment [Member] | Colombia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indentifiable assets | 150,719 | ' | ' | ' | 148,567 | ' | ' | ' | 150,719 | 148,567 | 151,448 |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $115,631 | $95,338 | $109,539 |
Drilling Rigs | 8 | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' |
Drilling Services Segment [Member] | Colombia [Member] | Drilling Rigs [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Drilling Rigs | 5 | ' | ' | ' | 5 | ' | ' | ' | 5 | 5 | ' |
Drilling Services Segment [Member] | Colombia [Member] | Assets Leased From Others [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Drilling Rigs | 3 | ' | ' | ' | 3 | ' | ' | ' | 3 | 3 | ' |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Guarantor Obligations, Current Carrying Value | $60.40 |
Quarterly_Results_of_Operation2
Quarterly Results of Operations (unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $238,183 | $243,979 | $248,354 | $229,670 | $227,868 | $229,773 | $229,824 | $231,978 | $960,186 | $919,443 | $715,941 |
Income (loss) from operations | 8,724 | 1,870 | -27,268 | 10,445 | 15,529 | 13,222 | 23,312 | 29,748 | -6,229 | 81,811 | 57,458 |
Income tax (expense) benefit | 733 | 3,614 | 14,953 | 546 | -1,943 | -1,461 | -5,997 | -6,953 | 19,846 | -16,354 | -9,656 |
Net income (loss) | ($2,515) | ($6,230) | ($25,895) | ($1,292) | $3,560 | $2,615 | $9,685 | $14,172 | ($35,932) | $30,032 | $11,177 |
Earnings (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (loss) per common share - Basic (USD per share) | ($0.04) | ($0.10) | ($0.42) | ($0.02) | $0.06 | $0.04 | $0.16 | $0.23 | ($0.58) | $0.49 | $0.19 |
Income (loss) per common share - Diluted (USD per share) | ($0.04) | ($0.10) | ($0.42) | ($0.02) | $0.06 | $0.04 | $0.15 | $0.23 | ($0.58) | $0.48 | $0.19 |
GuarantorNonGuarantor_Condense2
Guarantor/Non-Guarantor Condensed Consolidated Financial Statements (Balance Sheet (Unaudited)) (Details) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | |||||
Current assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | $27,385 | ' | $23,733 | $86,197 | $22,011 |
Receivables, net of allowance | 176,360 | ' | 158,844 | ' | ' |
Intercompany receivable (payable) | 0 | ' | 0 | ' | ' |
Deferred income taxes | 13,092 | ' | 11,058 | ' | ' |
Inventory | 13,232 | ' | 12,111 | ' | ' |
Prepaid expenses and other current assets | 9,311 | ' | 13,040 | ' | ' |
Total current assets | 239,380 | ' | 218,786 | ' | ' |
Net property and equipment | 937,657 | ' | 1,014,340 | ' | ' |
Investments in subsidiaries | 0 | ' | 0 | ' | ' |
Intangible assets | 32,269 | ' | 43,843 | ' | ' |
Goodwill | 0 | 0 | 41,683 | 41,700 | ' |
Noncurrent deferred income taxes | 1,156 | ' | 5,519 | ' | ' |
Other long-term assets | 19,161 | ' | 15,605 | ' | ' |
Total assets | 1,229,623 | ' | 1,339,776 | 1,172,754 | ' |
Current liabilities: | ' | ' | ' | ' | ' |
Accounts payable | 43,718 | ' | 83,823 | ' | ' |
Current portion of long-term debt | 2,847 | ' | 872 | ' | ' |
Deferred revenues | 699 | ' | 3,880 | ' | ' |
Accrued expenses | 73,569 | ' | 67,975 | ' | ' |
Total current liabilities | 120,833 | ' | 156,550 | ' | ' |
Long-term debt, less current portion | 499,666 | ' | 518,725 | ' | ' |
Noncurrent deferred income taxes | 84,636 | ' | 108,838 | ' | ' |
Other long-term liabilities | 6,055 | ' | 7,983 | ' | ' |
Total liabilities | 711,190 | ' | 792,096 | ' | ' |
Total shareholders' equity | 518,433 | ' | 547,680 | 510,445 | 396,333 |
Total liabilities and shareholders' equity | 1,229,623 | ' | 1,339,776 | ' | ' |
Parent [Member] | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | 28,368 | ' | 18,479 | 91,932 | 15,737 |
Receivables, net of allowance | 905 | ' | 440 | ' | ' |
Intercompany receivable (payable) | -24,837 | ' | -124,516 | ' | ' |
Deferred income taxes | 1,143 | ' | 869 | ' | ' |
Inventory | 0 | ' | 0 | ' | ' |
Prepaid expenses and other current assets | 1,013 | ' | 655 | ' | ' |
Total current assets | 6,592 | ' | -104,073 | ' | ' |
Net property and equipment | 4,531 | ' | 3,474 | ' | ' |
Investments in subsidiaries | 939,091 | ' | 1,122,814 | ' | ' |
Intangible assets | 75 | ' | 68 | ' | ' |
Goodwill | ' | ' | 0 | ' | ' |
Noncurrent deferred income taxes | 78,486 | ' | 51,834 | ' | ' |
Other long-term assets | 7,513 | ' | 9,582 | ' | ' |
Total assets | 1,036,288 | ' | 1,083,699 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' |
Accounts payable | 757 | ' | 1,558 | ' | ' |
Current portion of long-term debt | 0 | ' | 0 | ' | ' |
Deferred revenues | 0 | ' | 0 | ' | ' |
Accrued expenses | 16,368 | ' | 14,905 | ' | ' |
Total current liabilities | 17,125 | ' | 16,463 | ' | ' |
Long-term debt, less current portion | 499,586 | ' | 518,618 | ' | ' |
Noncurrent deferred income taxes | 0 | ' | -4 | ' | ' |
Other long-term liabilities | 394 | ' | 192 | ' | ' |
Total liabilities | 517,105 | ' | 535,269 | ' | ' |
Total shareholders' equity | 519,183 | ' | 548,430 | ' | ' |
Total liabilities and shareholders' equity | 1,036,288 | ' | 1,083,699 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | -2,059 | ' | -5,401 | -13,879 | -1,840 |
Receivables, net of allowance | 125,979 | ' | 129,570 | ' | ' |
Intercompany receivable (payable) | 52,671 | ' | 146,652 | ' | ' |
Deferred income taxes | 8,005 | ' | 8,162 | ' | ' |
Inventory | 7,415 | ' | 5,956 | ' | ' |
Prepaid expenses and other current assets | 7,094 | ' | 9,163 | ' | ' |
Total current assets | 199,105 | ' | 294,102 | ' | ' |
Net property and equipment | 846,632 | ' | 921,393 | ' | ' |
Investments in subsidiaries | 120,630 | ' | 114,416 | ' | ' |
Intangible assets | 32,194 | ' | 43,775 | ' | ' |
Goodwill | ' | ' | 41,683 | ' | ' |
Noncurrent deferred income taxes | 0 | ' | 0 | ' | ' |
Other long-term assets | 2,009 | ' | 2,340 | ' | ' |
Total assets | 1,200,570 | ' | 1,417,709 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' |
Accounts payable | 37,797 | ' | 76,828 | ' | ' |
Current portion of long-term debt | 2,847 | ' | 872 | ' | ' |
Deferred revenues | 699 | ' | 1,954 | ' | ' |
Accrued expenses | 51,739 | ' | 48,892 | ' | ' |
Total current liabilities | 93,082 | ' | 128,546 | ' | ' |
Long-term debt, less current portion | 80 | ' | 107 | ' | ' |
Noncurrent deferred income taxes | 163,122 | ' | 160,676 | ' | ' |
Other long-term liabilities | 5,195 | ' | 5,566 | ' | ' |
Total liabilities | 261,479 | ' | 294,895 | ' | ' |
Total shareholders' equity | 939,091 | ' | 1,122,814 | ' | ' |
Total liabilities and shareholders' equity | 1,200,570 | ' | 1,417,709 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | 1,076 | ' | 10,655 | 8,144 | 8,114 |
Receivables, net of allowance | 49,476 | ' | 29,128 | ' | ' |
Intercompany receivable (payable) | -27,834 | ' | -22,136 | ' | ' |
Deferred income taxes | 3,944 | ' | 2,027 | ' | ' |
Inventory | 5,817 | ' | 6,155 | ' | ' |
Prepaid expenses and other current assets | 1,204 | ' | 3,222 | ' | ' |
Total current assets | 33,683 | ' | 29,051 | ' | ' |
Net property and equipment | 87,244 | ' | 90,223 | ' | ' |
Investments in subsidiaries | 0 | ' | 0 | ' | ' |
Intangible assets | 0 | ' | 0 | ' | ' |
Goodwill | ' | ' | 0 | ' | ' |
Noncurrent deferred income taxes | 1,156 | ' | 5,519 | ' | ' |
Other long-term assets | 9,639 | ' | 3,683 | ' | ' |
Total assets | 131,722 | ' | 128,476 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' |
Accounts payable | 5,164 | ' | 5,437 | ' | ' |
Current portion of long-term debt | 0 | ' | 0 | ' | ' |
Deferred revenues | 0 | ' | 1,926 | ' | ' |
Accrued expenses | 5,462 | ' | 4,472 | ' | ' |
Total current liabilities | 10,626 | ' | 11,835 | ' | ' |
Long-term debt, less current portion | 0 | ' | 0 | ' | ' |
Noncurrent deferred income taxes | 0 | ' | 0 | ' | ' |
Other long-term liabilities | 466 | ' | 2,225 | ' | ' |
Total liabilities | 11,092 | ' | 14,060 | ' | ' |
Total shareholders' equity | 120,630 | ' | 114,416 | ' | ' |
Total liabilities and shareholders' equity | 131,722 | ' | 128,476 | ' | ' |
Eliminations [Member] | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | ' | 0 | ' | ' |
Receivables, net of allowance | 0 | ' | -294 | ' | ' |
Intercompany receivable (payable) | 0 | ' | 0 | ' | ' |
Deferred income taxes | 0 | ' | 0 | ' | ' |
Inventory | 0 | ' | 0 | ' | ' |
Prepaid expenses and other current assets | 0 | ' | 0 | ' | ' |
Total current assets | 0 | ' | -294 | ' | ' |
Net property and equipment | -750 | ' | -750 | ' | ' |
Investments in subsidiaries | -1,059,721 | ' | -1,237,230 | ' | ' |
Intangible assets | 0 | ' | 0 | ' | ' |
Goodwill | ' | ' | 0 | ' | ' |
Noncurrent deferred income taxes | -78,486 | ' | -51,834 | ' | ' |
Other long-term assets | 0 | ' | 0 | ' | ' |
Total assets | -1,138,957 | ' | -1,290,108 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' |
Accounts payable | 0 | ' | 0 | ' | ' |
Current portion of long-term debt | 0 | ' | 0 | ' | ' |
Deferred revenues | 0 | ' | 0 | ' | ' |
Accrued expenses | 0 | ' | -294 | ' | ' |
Total current liabilities | 0 | ' | -294 | ' | ' |
Long-term debt, less current portion | 0 | ' | 0 | ' | ' |
Noncurrent deferred income taxes | -78,486 | ' | -51,834 | ' | ' |
Other long-term liabilities | 0 | ' | 0 | ' | ' |
Total liabilities | -78,486 | ' | -52,128 | ' | ' |
Total shareholders' equity | -1,060,471 | ' | -1,237,980 | ' | ' |
Total liabilities and shareholders' equity | ($1,138,957) | ' | ($1,290,108) | ' | ' |
Statements_of_Operations_Unaud
(Statements of Operations (Unaudited)) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues | $238,183 | $243,979 | $248,354 | $229,670 | $227,868 | $229,773 | $229,824 | $231,978 | $960,186 | $919,443 | $715,941 |
Operating Costs | ' | ' | ' | ' | ' | ' | ' | ' | 628,438 | 586,621 | 456,924 |
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 187,918 | 164,717 | 132,832 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 95,000 | 85,603 | 67,318 |
Intercompany leasing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Bad debt expense (recovery) | ' | ' | ' | ' | ' | ' | ' | ' | 767 | -440 | 925 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 54,292 | 1,131 | 484 |
Total costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 966,415 | 837,632 | 658,483 |
Income (loss) from operations | 8,724 | 1,870 | -27,268 | 10,445 | 15,529 | 13,222 | 23,312 | 29,748 | -6,229 | 81,811 | 57,458 |
Other (expense) income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -48,310 | -37,049 | -29,721 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | -1,239 | 1,624 | -6,904 |
Total other expense | ' | ' | ' | ' | ' | ' | ' | ' | -49,549 | -35,425 | -36,625 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -55,778 | 46,386 | 20,833 |
Income tax (expense) benefit | 733 | 3,614 | 14,953 | 546 | -1,943 | -1,461 | -5,997 | -6,953 | 19,846 | -16,354 | -9,656 |
Net income (loss) | -2,515 | -6,230 | -25,895 | -1,292 | 3,560 | 2,615 | 9,685 | 14,172 | -35,932 | 30,032 | 11,177 |
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating Costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 1,113 | 873 | 847 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 25,272 | 22,212 | 19,797 |
Intercompany leasing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Bad debt expense (recovery) | ' | ' | ' | ' | ' | ' | ' | ' | 67 | 0 | 0 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 26,452 | 23,085 | 20,644 |
Income (loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | -26,452 | -23,085 | -20,644 |
Other (expense) income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 11,861 | 68,352 | 43,182 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -48,302 | -37,011 | -29,497 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 9 | 268 | 311 |
Total other expense | ' | ' | ' | ' | ' | ' | ' | ' | -36,432 | 31,609 | 13,996 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -62,884 | 8,524 | -6,648 |
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 26,952 | 21,508 | -17,825 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -35,932 | 30,032 | 11,177 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 844,555 | 779,163 | 606,402 |
Operating Costs | ' | ' | ' | ' | ' | ' | ' | ' | 547,528 | 485,342 | 372,945 |
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 173,516 | 142,972 | 119,520 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 66,779 | 54,715 | 45,152 |
Intercompany leasing | ' | ' | ' | ' | ' | ' | ' | ' | -4,860 | -4,860 | -4,860 |
Bad debt expense (recovery) | ' | ' | ' | ' | ' | ' | ' | ' | 700 | -612 | 925 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 54,292 | 1,131 | 484 |
Total costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 837,955 | 678,688 | 534,166 |
Income (loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | 6,600 | 100,475 | 72,236 |
Other (expense) income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 6,260 | 4,029 | -2,982 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -37 | -59 | -248 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 1,990 | 940 | 1,163 |
Total other expense | ' | ' | ' | ' | ' | ' | ' | ' | 8,213 | 4,910 | -2,067 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 14,813 | 105,385 | 70,169 |
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -2,952 | -37,033 | 26,987 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 11,861 | 68,352 | 43,182 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 115,631 | 140,280 | 109,539 |
Operating Costs | ' | ' | ' | ' | ' | ' | ' | ' | 80,910 | 101,279 | 83,979 |
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 13,289 | 20,872 | 12,465 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 3,501 | 9,228 | 2,921 |
Intercompany leasing | ' | ' | ' | ' | ' | ' | ' | ' | 4,860 | 4,860 | 4,857 |
Bad debt expense (recovery) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 172 | 0 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 102,560 | 136,411 | 104,222 |
Income (loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | 13,071 | 3,869 | 5,317 |
Other (expense) income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 29 | 21 | 24 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | -2,686 | 968 | -7,829 |
Total other expense | ' | ' | ' | ' | ' | ' | ' | ' | -2,657 | 989 | -7,805 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 10,414 | 4,858 | -2,488 |
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | -4,154 | -829 | 494 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 6,260 | 4,029 | -2,982 |
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating Costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Costs and expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | -552 | -552 | -552 |
Intercompany leasing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 3 |
Bad debt expense (recovery) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | -552 | -552 | -549 |
Income (loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | 552 | 552 | 549 |
Other (expense) income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -18,121 | -72,381 | -40,200 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | -552 | -552 | -549 |
Total other expense | ' | ' | ' | ' | ' | ' | ' | ' | -18,673 | -72,933 | -40,749 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -18,121 | -72,381 | -40,200 |
Income tax (expense) benefit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ($18,121) | ($72,381) | ($40,200) |
GuarantorNonGuarantor_Condense3
Guarantor/Non-Guarantor Condensed Consolidated Financial Statements (Cash Flows (Unaudited)) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | $174,580 | $199,366 | $144,879 |
Cash flows from investing activities: | ' | ' | ' |
Acquisition of production services business of Go-Coil | ' | ' | -109,035 |
Acquisition of other production services businesses | ' | ' | -6,502 |
Purchases of property and equipment | -165,356 | -364,324 | -210,066 |
Proceeds from sale of property and equipment | 13,836 | 3,093 | 5,550 |
Proceeds from sale of auction rate securities | 0 | 0 | 12,569 |
Proceeds from insurance recoveries | 844 | 0 | 0 |
Net cash used in investing activities | -150,676 | -361,231 | -307,484 |
Cash flows from financing activities: | ' | ' | ' |
Debt repayments | -60,874 | -874 | -113,158 |
Proceeds from issuance of debt | 40,000 | 100,000 | 250,750 |
Debt issuance costs | -13 | -58 | -7,285 |
Proceeds from exercise of options | 1,266 | 693 | 2,884 |
Proceeds from common stock, net of offering costs of $5,707 | 0 | 0 | 94,343 |
Purchase of treasury stock | -631 | -360 | -743 |
Net cash provided by (used in) financing activities | -20,252 | 99,401 | 226,791 |
Net increase (decrease) in cash and cash equivalents | 3,652 | -62,464 | 64,186 |
Beginning cash and cash equivalents | 23,733 | 86,197 | 22,011 |
Ending cash and cash equivalents | 27,385 | 23,733 | 86,197 |
Parent [Member] | ' | ' | ' |
Cash flows from operating activities: | 31,908 | -171,541 | -164,032 |
Cash flows from investing activities: | ' | ' | ' |
Acquisition of production services business of Go-Coil | ' | ' | 0 |
Acquisition of other production services businesses | ' | ' | 0 |
Purchases of property and equipment | -2,649 | -2,187 | -485 |
Proceeds from sale of property and equipment | 8 | 0 | 7 |
Proceeds from sale of auction rate securities | ' | ' | 12,569 |
Proceeds from insurance recoveries | 0 | ' | ' |
Net cash used in investing activities | -2,641 | -2,187 | 12,091 |
Cash flows from financing activities: | ' | ' | ' |
Debt repayments | -60,000 | 0 | -111,813 |
Proceeds from issuance of debt | 40,000 | 100,000 | 250,750 |
Debt issuance costs | -13 | -58 | -7,285 |
Proceeds from exercise of options | 1,266 | 693 | 2,884 |
Proceeds from common stock, net of offering costs of $5,707 | ' | ' | 94,343 |
Purchase of treasury stock | -631 | -360 | -743 |
Net cash provided by (used in) financing activities | -19,378 | 100,275 | 228,136 |
Net increase (decrease) in cash and cash equivalents | 9,889 | -73,453 | 76,195 |
Beginning cash and cash equivalents | 18,479 | 91,932 | 15,737 |
Ending cash and cash equivalents | 28,368 | 18,479 | 91,932 |
Guarantor Subsidiaries [Member] | ' | ' | ' |
Cash flows from operating activities: | 142,225 | 338,418 | 300,198 |
Cash flows from investing activities: | ' | ' | ' |
Acquisition of production services business of Go-Coil | ' | ' | -109,035 |
Acquisition of other production services businesses | ' | ' | -6,502 |
Purchases of property and equipment | -151,363 | -332,082 | -200,887 |
Proceeds from sale of property and equipment | 12,510 | 2,998 | 5,532 |
Proceeds from sale of auction rate securities | ' | ' | 0 |
Proceeds from insurance recoveries | 844 | ' | ' |
Net cash used in investing activities | -138,009 | -329,084 | -310,892 |
Cash flows from financing activities: | ' | ' | ' |
Debt repayments | -874 | -856 | -1,345 |
Proceeds from issuance of debt | 0 | 0 | 0 |
Debt issuance costs | 0 | 0 | 0 |
Proceeds from exercise of options | 0 | 0 | 0 |
Proceeds from common stock, net of offering costs of $5,707 | ' | ' | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | -874 | -856 | -1,345 |
Net increase (decrease) in cash and cash equivalents | 3,342 | 8,478 | -12,039 |
Beginning cash and cash equivalents | -5,401 | -13,879 | -1,840 |
Ending cash and cash equivalents | -2,059 | -5,401 | -13,879 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' |
Cash flows from operating activities: | 447 | 32,489 | 8,713 |
Cash flows from investing activities: | ' | ' | ' |
Acquisition of production services business of Go-Coil | ' | ' | 0 |
Acquisition of other production services businesses | ' | ' | 0 |
Purchases of property and equipment | -11,344 | -30,055 | -8,694 |
Proceeds from sale of property and equipment | 1,318 | 95 | 11 |
Proceeds from sale of auction rate securities | ' | ' | 0 |
Proceeds from insurance recoveries | 0 | ' | ' |
Net cash used in investing activities | -10,026 | -29,960 | -8,683 |
Cash flows from financing activities: | ' | ' | ' |
Debt repayments | 0 | -18 | 0 |
Proceeds from issuance of debt | 0 | 0 | 0 |
Debt issuance costs | 0 | 0 | 0 |
Proceeds from exercise of options | 0 | 0 | 0 |
Proceeds from common stock, net of offering costs of $5,707 | ' | ' | 0 |
Purchase of treasury stock | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | 0 | -18 | 0 |
Net increase (decrease) in cash and cash equivalents | -9,579 | 2,511 | 30 |
Beginning cash and cash equivalents | 10,655 | 8,144 | 8,114 |
Ending cash and cash equivalents | 1,076 | 10,655 | 8,144 |
Eliminations [Member] | ' | ' | ' |
Cash flows from financing activities: | ' | ' | ' |
Ending cash and cash equivalents | $0 | $0 | ' |