Parker Drilling (PKDC) 10-Q 4 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 02, 2015
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	PKD
Entity Registrant Name	PARKER DRILLING CO /DE/
Entity Central Index Key	76,321
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		123,179,100

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 104,651	$ 108,456
Accounts and Notes Receivable, net of allowance for bad debts of $9,691 at September 30, 2015 and $11,188 at December 31, 2014.	224,996	270,952
Rig materials and supplies	38,516	47,943
Deferred costs	2,961	5,673
Deferred income taxes	5,448	7,476
Other tax assets	7,832	10,723
Other current assets	17,201	18,556
Total current assets	401,605	469,779
Property, plant and equipment, net of accumulated depreciation of $1,285,222 at September 30, 2015 and $1,201,058 at December 31, 2014.	841,923	895,940
Goodwill (Note 3)	6,708	0
Intangible assets, net (Note 3)	14,741	4,286
Debt issuance costs	13,136	12,526
Deferred income taxes	133,058	122,689
Other noncurrent assets	31,012	15,439
Total assets	1,442,183	1,520,659
Current liabilities:
Current portion of long-term debt	0	10,000
Accounts payable and accrued liabilities	143,576	154,479
Accrued income taxes	6,594	14,186
Total current liabilities	150,170	178,665
Long-term debt	585,000	605,000
Other long-term liabilities	20,141	18,665
Long-term deferred tax liability	75,197	52,115
Stockholders’ equity:
Common stock	20,517	20,325
Capital in excess of par value	670,700	666,769
Accumulated deficit	(83,592)	(24,165)
Accumulated other comprehensive (loss)	(1,127)	(498)
Total controlling interest stockholders’ equity	606,498	662,431
Noncontrolling interest	5,177	3,783
Total equity	611,675	666,214
Total liabilities and stockholders’ equity	$ 1,442,183	$ 1,520,659

CONSOLIDATED CONDENSED BALANCE3

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for bad debts	$ 9,691	$ 11,188
Accumulated depreciation and amortization on property, plant and equipment	$ (1,285,222)	$ (1,201,058)

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Revenues	$ 173,418	$ 242,012	$ 563,435	$ 725,471
Expenses:
Operating expenses	128,963	160,797	411,802	501,391
Depreciation and amortization	39,584	36,149	118,474	106,666
Total expenses	168,547	196,946	530,276	608,057
Total operating gross margin	4,871	45,066	33,159	117,414
General and administration expense	(8,895)	(9,370)	(29,243)	(25,341)
Other Asset Impairment Charges	(906)	0	(3,222)	0
Gain (loss) on disposition of assets, net	383	(457)	2,686	433
Total operating income (loss)	(4,547)	35,239	3,380	92,506
Other income and (expense):
Interest expense	(11,293)	(10,848)	(33,767)	(33,486)
Interest income	7	36	209	156
Loss on extinguishment of debt	0	0	0	(30,152)
Other	(719)	(536)	(3,628)	1,391
Total other expense	(12,005)	(11,348)	(37,186)	(62,091)
Income (loss) before income taxes	(16,552)	23,891	(33,806)	30,415
Income tax expense	31,930	11,014	24,832	14,093
Net income (loss)	(48,482)	12,877	(58,638)	16,322
Less: Net income attributable to noncontrolling interest	138	311	789	624
Net income (loss) attributable to controlling interest	$ (48,620)	$ 12,566	$ (59,427)	$ 15,698
Basic earnings (loss) per share	$ (0.40)	$ 0.10	$ (0.49)	$ 0.13
Diluted earnings (loss) per share	$ (0.40)	$ 0.10	$ (0.49)	$ 0.13
Number of common shares used in computing earnings per share:
Basic	122,933,518	121,523,674	122,430,957	120,994,728
Diluted	122,933,518	123,177,753	122,430,957	122,972,014

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Comprehensive income:
Net income (loss)	$ (48,482)	$ 12,877	$ (58,638)	$ 16,322
Other comprehensive income (loss), net of tax:
Currency translation difference on related borrowings	(1,285)	(1,780)	(2,308)	(2,248)
Currency translation difference on foreign currency net investments	588	615	1,462	1,126
Total other comprehensive income (loss), net of tax:	(697)	(1,165)	(846)	(1,122)
Comprehensive income (loss)	(49,261)	11,423	(60,055)	14,677
Comprehensive (loss) attributable to noncontrolling interest	(82)	(289)	(571)	(523)
Comprehensive income (loss) attributable to controlling interest	$ (49,179)	$ 11,712	$ (59,484)	$ 15,200

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (58,638)	$ 16,322
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	118,474	106,666
Accretion Expense	547	0
Loss on extinguishment of debt	0	30,152
Other Asset Impairment Charges	3,222	0
(Gain) loss on disposition of assets	(2,686)	(433)
Deferred income tax benefit	10,259	(73)
Expenses not requiring cash	8,029	10,141
Accounts and notes receivable	51,254	(5,188)
Other assets	1,486	7,554
Accounts payable and accrued liabilities	(15,790)	(10,539)
Accrued income taxes	(7,305)	(10,397)
Net cash provided by operating activities	108,852	144,351
Cash flows from investing activities:
Capital expenditures	(72,469)	(151,109)
Proceeds from the sale of assets	731	2,294
Proceeds from insurance settlements	2,500	0
Payments to Acquire Businesses, Net of Cash Acquired	(10,431)	0
Net cash (used in) investing activities	(79,669)	(148,815)
Cash flows from financing activities:
Proceeds from issuance of debt	0	400,000
Repayments of long-term debt	(30,000)	(432,500)
Payments of debt issuance costs	(1,996)	(7,630)
Payments of debt extinguishment costs	0	(26,214)
Excess tax benefit (expense) from stock based compensation	(992)	430
Net cash (used in) financing activities	(32,988)	(65,914)
Net (decrease) in cash and cash equivalents	(3,805)	(70,378)
Cash and cash equivalents, beginning of year	108,456	148,689
Cash and cash equivalents, end of period	104,651	78,311
Supplemental cash flow information:
Interest paid	41,393	41,558
Income taxes paid	$ 21,627	$ 15,787

General

General	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
General	General In the opinion of the management of Parker Drilling Company (Parker Drilling or the Company), the accompanying unaudited consolidated condensed financial statements reflect all adjustments normally recurring which we believe are necessary for a fair presentation of: (1) Parker Drilling’s financial position as of September 30, 2015 and December 31, 2014 , (2) Parker Drilling’s results of operations for the three and nine month periods ended September 30, 2015 and 2014 , (3) Parker Drilling’s consolidated condensed statement of comprehensive income for the three and nine month periods ended September 30, 2015 and 2014 , and (4) Parker Drilling’s cash flows for the nine month periods ended September 30, 2015 and 2014 . Results for the three and nine month periods ended September 30, 2015 are not necessarily indicative of the results that will be realized for the year ending December 31, 2015 . The financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2014 . Nature of Operations — Our business is comprised of two business lines: (1) Drilling Services and (2) Rental Tools Services. We report our Rental Tools Services business as one reportable segment (Rental Tools) and report our Drilling Services business as two reportable segments: (1) U.S. (Lower 48) Drilling and (2) International & Alaska Drilling. In our Drilling Services business, we own and operate drilling rigs and drilling-related equipment and also perform drilling-related services, referred to as operations and maintenance (O&M) services, on a contracted basis for operators who own their own drilling rigs, but choose Parker Drilling to operate the rigs for them. In addition, we provide consulting services, such as engineering, procurement, project management and commissioning of customer-owned drilling facility projects. We have extensive experience and expertise in drilling geologically difficult wells and in managing the logistical and technological challenges of operating in remote, harsh and ecologically sensitive areas. Our U.S. (Lower 48) Drilling segment includes our Gulf of Mexico (GOM) barge drilling fleet and United States (U.S.) based O&M services. Our GOM barge drilling business operates barge rigs that drill for oil and natural gas in shallow waters in and along the inland waterways and coasts of Louisiana, Alabama, and Texas. The majority of these wells are drilled in shallow water depths ranging from 6 to 12 feet. Our International & Alaska Drilling segment includes operations related to Parker-owned and customer-owned rigs in the Eastern Hemisphere and Latin America regions as well as Alaska. Our Rental Tools Services business provides premium rental equipment and services to exploration and production companies, drilling contractors and service companies on land and offshore in the U.S. and select international markets. Tools we provide include standard and heavy-weight drill pipe, all of which are available with standard or high-torque connections, tubing, pressure control equipment including blow-out preventers (BOPs), drill collars and more. We also provide well construction services which include tubular running services and downhole tools and well intervention services which include whipstock, fishing products and related services, as well as inspection and machine shop support. Consolidation — The consolidated financial statements include the accounts of the Company and subsidiaries in which we exercise control or have a controlling financial interest, including entities, if any, in which the Company is allocated a majority of the entity’s losses or returns, regardless of ownership percentage. If a subsidiary of Parker Drilling has a 50 percent interest in an entity but Parker Drilling’s interest in the subsidiary or the entity does not meet the consolidation criteria described above, then that interest is accounted for under the equity method. In the second quarter of 2015 we recognized through other income and expense a $0.9 million loss related to the divestiture of our controlling interest in a joint venture. Noncontrolling Interest — We apply accounting standards related to noncontrolling interests for ownership interests in our subsidiaries held by parties other than Parker Drilling. The entities that comprise the noncontrolling interest include ITS Arabia Limited and ITS Egypt SAE. We report noncontrolling interest as equity on the consolidated balance sheets and report net income (loss) attributable to controlling interest and to noncontrolling interest separately on the consolidated statements of operations. Reclassifications — Certain reclassifications have been made to prior period amounts to conform to the current period presentation. These reclassifications did not materially affect our consolidated financial results. Revenue Recognition — Drilling revenues and expenses, comprised of daywork drilling contracts, call-outs against master service agreements and engineering and related project service contracts, are recognized as services are performed and collection is reasonably assured. For certain contracts, we receive payments contractually designated for the mobilization of rigs and other drilling equipment. Mobilization payments received, and direct costs incurred for the mobilization, are deferred and recognized over the primary term of the related drilling contract; however, costs incurred to relocate rigs and other drilling equipment to areas in which a contract has not been secured are expensed as incurred. For contracts that are terminated prior to the specified term, early termination payments received by us are recognized as revenues when all contractual requirements are met. Revenues from rental activities are recognized ratably over the rental term, which is generally less than six months. Our project related services contracts include engineering, consulting, and project management scopes of work and revenue is typically recognized on a time and materials basis. Reimbursable Costs — The Company recognizes reimbursements received for out-of-pocket expenses incurred as revenues and accounts for out-of-pocket expenses as direct operating costs. Reimbursable costs totaled $20.8 million and $19.3 million for the three months ended September 30, 2015 and 2014 , respectively, and $68.4 million and $57.5 million for the nine months ended September 30, 2015 and 2014 , respectively. Additionally, the Company typically receives a nominal handling fee, which is recognized as earned revenues in our consolidated statement of operations. Use of Estimates — The preparation of financial statements in accordance with accounting policies generally accepted in the United States (U.S. GAAP) requires management to make estimates and assumptions that affect our reported amounts of assets and liabilities, our disclosure of contingent assets and liabilities at the date of the financial statements, and our revenues and expenses during the periods reported. Estimates are typically used when accounting for certain significant items such as legal or contractual liability accruals, mobilization and deferred mobilization, self-insured medical/dental plans, income taxes and valuation allowance, and other items requiring the use of estimates. Estimates are based on a number of variables which may include third party valuations, historical experience, where applicable, and assumptions that we believe are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ from management estimates. Purchase Price Allocation — We allocate the purchase price of an acquired business to its identifiable assets and liabilities in accordance with the acquisition method based on estimated fair values at the transaction date. Transaction and integration costs associated with an acquisition are expensed as incurred. The excess of the purchase price over the amount allocated to the assets and liabilities, if any, is recorded as goodwill. We use all available information to estimate fair values, including quoted market prices, the carrying value of acquired assets, and widely accepted valuation techniques such as discounted cash flows. We typically engage third-party appraisal firms to assist in fair value determination of inventories, identifiable intangible assets, and any other significant assets or liabilities. Judgments made in determining the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact our results of operations. See Note 2 - Acquisitions for further discussion. Goodwill — We account for all business combinations using the acquisition method of accounting. Under this method, assets and liabilities, including any remaining noncontrolling interests, are recognized at fair value at the date of acquisition. The excess of the purchase price over the fair value of assets acquired, net of liabilities assumed, plus the value of any noncontrolling interests, is recognized as goodwill. We are required to test goodwill for impairment on an annual basis, and more frequently when negative conditions or other triggering events arise. See Note 3 - Goodwill and Intangible Assets for further discussion. Intangible Assets — Our intangible assets are related to trademarks, trade names, customer relationships, and developed technology, which were acquired through acquisition and are generally amortized over a weighted average period of approximately three to six years. We assess the recoverability of the unamortized balance of our intangible assets when indicators of impairment are present based on expected future profitability and undiscounted expected cash flows and their contribution to our overall operations. Should the review indicate that the carrying value is not fully recoverable, the excess of the carrying value over the fair value of the intangible assets would be recognized as an impairment loss. See Note 3 - Goodwill and Intangible Assets for further discussion. Concentrations of Credit Risk — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of trade receivables with a variety of major, independent, national and international oil and gas companies and integrated service providers. We generally do not require collateral on our trade receivables. We depend on a limited number of significant customers. Our largest customer, Exxon Neftegas Limited (ENL) , constituted approximately 27.0 percent of our revenues for the nine months ended September 30, 2015 . Each of our segments depends on a limited number of key customers and the loss of any one or more key customers could have a material adverse effect on a segment. At September 30, 2015 and December 31, 2014 , we had deposits in domestic banks in excess of federally insured limits of approximately $62.1 million and $59.3 million , respectively. In addition, as of September 30, 2015 and December 31, 2014 , we had deposits that were not insured in foreign banks of $43.1 million and $54.4 million , respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets Goodwill and Intangible Assets (Notes)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	Goodwill and Intangible Assets We account for all business combinations using the acquisition method of accounting. Under this method, assets and liabilities, including any remaining noncontrolling interests, are recognized at fair value at the date of acquisition. The excess of the purchase price over the fair value of assets acquired, net of liabilities assumed, plus the value of any noncontrolling interests, is recognized as goodwill. As part of the 2M-Tek Acquisition we recognized $6.7 million of goodwill and acquired definite-lived intangible assets with an acquisition date fair value of $13.5 million . As part of the ITS Acquisition, we acquired definite-lived intangible assets with an acquisition date fair value of $8.5 million . All of the Company's goodwill and intangible assets are allocated to the Rental Tools segment. Goodwill The change in the carrying amount of goodwill for the period ended September 30, 2015 is as follows: Dollars in thousands Goodwill Balance at December 31, 2014 $ — Acquisition 6,708 Balance at September 30, 2015 $ 6,708 Of the total amount of goodwill recognized, zero is expected to be deductible for income tax purposes. Intangible Assets Intangible Assets consist of the following: As of September 30, 2015 Dollars in thousands Estimated Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Developed Technology 6 $ 11,630 $ (969 ) $ 10,661 Customer Relationships 3 5,400 (4,394 ) 1,006 Trademarks and trade names 5 4,940 (1,866 ) 3,074 Total Amortized intangible assets $ 21,970 $ (7,229 ) $ 14,741 Amortization expense was $1.2 million and $0.6 million for the three months ended September 30, 2015 and 2014 , and $3.1 million and $1.9 million for the nine months ended September 30, 2015 and 2014 , respectively. Our remaining intangibles amortization expense for the next five years is presented below: Dollars in thousands Expected future intangible amortization expense 2015 $ 1,204 2016 $ 3,549 2017 $ 2,860 2018 $ 2,306 2019 $ 2,306 Beyond 2019 $ 2,516

Earnings per share (EPS)

Earnings per share (EPS)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings per share (EPS)	Earnings (Loss) Per Share (EPS) Three Months Ended September 30, 2015 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ (48,620,000 ) 122,933,518 $ (0.40 ) Effect of dilutive securities: Restricted stock units — — — Diluted EPS $ (48,620,000 ) 122,933,518 $ (0.40 ) Nine Months Ended September 30, 2015 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ (59,427,000 ) 122,430,957 $ (0.49 ) Effect of dilutive securities: Restricted stock units — — — Diluted EPS $ (59,427,000 ) 122,430,957 $ (0.49 ) Three Months Ended September 30, 2014 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ 12,566,000 121,523,674 $ 0.10 Effect of dilutive securities: Restricted stock units — 1,654,079 — Diluted EPS $ 12,566,000 123,177,753 $ 0.10 Nine Months Ended September 30, 2014 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ 15,698,000 120,994,728 $ 0.13 Effect of dilutive securities: Restricted stock units — 1,977,286 — Diluted EPS $ 15,698,000 122,972,014 $ 0.13 For the three and nine months ended September 30, 2015 , all common shares potentially issuable in connection with outstanding restricted stock unit awards have been excluded from the calculation of diluted EPS as the company incurred a loss during the three and nine month periods, and therefore, inclusion of such potential common shares in the calculation would be anti-dilutive. For the three and nine months ended September 30, 2014 , weighted-average shares outstanding used in our computation of diluted EPS includes the dilutive effect of common shares potentially issuable in connection with outstanding restricted stock unit awards.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consisted of the following: Dollars in thousands Foreign Currency Items December 31, 2014 $ (498 ) Current period other comprehensive (loss) (629 ) September 30, 2015 $ (1,127 ) No amounts were reclassified out of accumulated other comprehensive income for the three and nine months ended September 30, 2015 .

Reportable Segments

Reportable Segments	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Reportable Segments	Reportable Segments Our business is comprised of two business lines: (1) Drilling Services and (2) Rental Tools Services. We report our Rental Tools Services business as one reportable segment (Rental Tools) and report our Drilling Services business as two reportable segments: (1) U.S. (Lower 48) Drilling and (2) International & Alaska Drilling. We eliminate inter-segment revenue and expenses. The following table represents the results of operations by reportable segment: Three Months Ended September 30, Nine Months Ended September 30, Dollars in thousands 2015 2014 2015 2014 Revenues: (1) U.S. (Lower 48) Drilling $ 5,961 $ 44,409 $ 26,906 $ 126,281 International & Alaska Drilling 110,661 109,892 339,551 343,803 Rental Tools 56,796 87,711 196,978 255,387 Total revenues 173,418 242,012 563,435 725,471 Operating gross margin: (2) U.S. (Lower 48) Drilling (7,397 ) 16,283 (20,673 ) 42,829 International & Alaska Drilling 13,212 9,131 37,428 23,824 Rental Tools (944 ) 19,652 16,404 50,761 Total operating gross margin 4,871 45,066 33,159 117,414 General and administrative expense (8,895 ) (9,370 ) (29,243 ) (25,341 ) Provision for reduction in carrying value of certain assets (906 ) — (3,222 ) — Gain (loss) on disposition of assets, net 383 (457 ) 2,686 433 Total operating income (loss) (4,547 ) 35,239 3,380 92,506 Interest expense (11,293 ) (10,848 ) (33,767 ) (33,486 ) Interest income 7 36 209 156 Loss on extinguishment of debt — — — (30,152 ) Other income (loss) (719 ) (536 ) (3,628 ) 1,391 Income (loss) from continuing operations before income taxes $ (16,552 ) $ 23,891 $ (33,806 ) $ 30,415 (1) For the nine months ended September 30, 2015 , our largest customer, Exxon Neftegas Limited (ENL) , constituted approximately 27.0 percent of our total consolidated revenues and approximately 44.7 percent of our International & Alaska Drilling segment revenues. For the nine months ended September 30, 2014 , our largest customer, ENL , constituted approximately 18.9 percent of our total consolidated revenues and approximately 39.9 percent of our International & Alaska Drilling segment revenues. (2) Operating gross margin is calculated as revenues less direct operating expenses, including depreciation and amortization expense.

Accounting for Uncertainty in I

Accounting for Uncertainty in Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Accounting for Uncertainty in Income Taxes	Accounting for Uncertainty in Income Taxes We apply the accounting guidance related to accounting for uncertainty in income taxes. This guidance prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. At September 30, 2015 and September 30, 2014 , we had a liability for unrecognized tax benefits of $8.2 million (which includes $3.6 million of benefits which would favorably impact our effective tax rate upon recognition), primarily related to foreign operations. In addition, we recognize interest and penalties that could be applied to uncertain tax positions in periodic income tax expense. As of September 30, 2015 and December 31, 2014 , we had approximately $3.7 million and $3.3 million , respectively, of accrued interest and penalties related to uncertain tax positions. Management believes the Company is properly reserved with respect to accounting for uncertainty in income taxes.

Income Tax Benefit_Expense

Income Tax Benefit/Expense	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Benefit/Expense	Income Tax Benefit/Expense During the third quarter of 2015 we had income tax expense of $31.9 million compared to expense of $11.0 million for the third quarter of 2014 . Despite the pre-tax loss for the 2015 third quarter, we recognized income tax expense as a result of recording a valuation allowance of $36.6 million primarily on U.S. foreign tax credits and certain foreign net operating losses. We established the valuation allowance based on the weight of available evidence, both positive and negative, including results of recent and current operations and our estimates of future taxable income or loss by jurisdiction in which we operate. In order to determine the amount of deferred tax assets or liabilities, as well as the valuation allowances, we must make estimates and assumptions regarding future taxable income, where rigs will be deployed and other business considerations. Changes in these estimates and assumptions, including changes in tax laws and other changes impacting our ability to recognize the underlying deferred tax assets, could require us to adjust the valuation allowances.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The following table illustrates our debt portfolio as of September 30, 2015 and December 31, 2014 : Dollars in thousands September 30, December 31, 6.75% Senior Notes, due July 2022 $ 360,000 $ 360,000 7.50% Senior Notes, due August 2020 225,000 225,000 Term Note, due December 2017 — 30,000 Total debt 585,000 615,000 Less current portion (1) — 10,000 Total long-term debt $ 585,000 $ 605,000 (1) Current portion of the Term Loan. 6.75% Senior Notes, due July 2022 On January 22, 2014 , we issued $360.0 million aggregate principal amount of 6.75% Senior Notes due 2022 (6.75% Notes) pursuant to an Indenture between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee. Net proceeds from the 6.75% Notes offering plus a $40.0 million Term Loan draw under the Amended and Restated Senior Secured Credit Agreement (2012 Secured Credit Agreement) and cash on hand were utilized to purchase $416.2 million aggregate principal amount of our outstanding 9.125% Senior Notes due 2018 (9.125% Notes) pursuant to a tender and consent solicitation offer commenced on January 7, 2014. See further discussion of the tender and consent solicitation offer below entitled " 9.125% Senior Notes, due April 2018". The 6.75% Notes are general unsecured obligations of the Company and rank equal in right of payment with all of our existing and future senior unsecured indebtedness. The 6.75% Notes are jointly and severally guaranteed by all of our subsidiaries that guarantee indebtedness under the Second Amended and Restated Senior Secured Credit Agreement (2015 Secured Credit Agreement) and our 7.50% Senior Notes due 2020 (7.50% Notes, and collectively with the 6.75% Notes, the Senior Notes). Interest on the 6.75% Notes is payable on January 15 and July 15 of each year, beginning July 15, 2014. Debt issuance costs related to the 6.75% Notes of approximately $7.6 million ( $6.4 million net of amortization as of September 30, 2015 ) are being amortized over the term of the notes using the effective interest rate method. At any time prior to January 15, 2017, we may redeem up to 35 percent of the aggregate principal amount of the 6.75% Notes at a redemption price of 106.75 percent of the principal amount, plus accrued and unpaid interest to the redemption date, with the net cash proceeds of certain equity offerings by us. On and after January 15, 2018, we may redeem all or a part of the 6.75% Notes upon appropriate notice, at a redemption price of 103.375 percent of the principal amount, and at redemption prices decreasing each year thereafter to par beginning January 15, 2020. If we experience certain changes in control, we must offer to repurchase the 6.75% Notes at 101.0 percent of the aggregate principal amount, plus accrued and unpaid interest and additional interest, if any, to the date of repurchase. The Indenture restricts our ability and the ability of certain subsidiaries to: (i) sell assets, (ii) pay dividends or make other distributions on capital stock or redeem or repurchase capital stock or subordinated indebtedness, (iii) make investments, (iv) incur or guarantee additional indebtedness, (v) create or incur liens, (vi) enter into sale and leaseback transactions, (vii) incur dividend or other payment restrictions affecting subsidiaries, (viii) merge or consolidate with other entities, (ix) enter into transactions with affiliates, and (x) engage in certain business activities. Additionally, the Indenture contains certain restrictive covenants designating certain events as Events of Default. These covenants are subject to a number of important exceptions and qualifications. 7.50% Senior Notes, due August 2020 On July 30, 2013 , we issued $225.0 million aggregate principal amount of the 7.50% Notes pursuant to an Indenture between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee. Net proceeds from the 7.50% Notes offering were primarily used to repay the $125.0 million aggregate principal amount of a term loan used to initially finance the ITS Acquisition, to repay $45.0 million of Term Loan borrowings under the 2012 Secured Credit Agreement and for general corporate purposes. The 7.50% Notes are general unsecured obligations of the Company and rank equal in right of payment with all of our existing and future senior unsecured indebtedness. The 7.50% Notes are jointly and severally guaranteed by all of our subsidiaries that guarantee indebtedness under the 2015 Secured Credit Agreement and the 6.75% Notes. Interest on the 7.50% Notes is payable on February 1 and August 1 of each year, beginning February 1, 2014. Debt issuance costs related to the 7.50% Notes of approximately $5.6 million ( $4.1 million , net of amortization as of September 30, 2015 ) are being amortized over the term of the notes using the effective interest rate method. At any time prior to August 1, 2016, we may redeem up to 35 percent of the aggregate principal amount of the 7.50% Notes at a redemption price of 107.50 percent of the principal amount, plus accrued and unpaid interest to the redemption date, with the net cash proceeds of certain equity offerings by us. On and after August 1, 2016, we may redeem all or a part of the 7.50% Notes upon appropriate notice, at a redemption price of 103.750 percent of the principal amount, and at redemption prices decreasing each year thereafter to par beginning August 1, 2018. If we experience certain changes in control, we must offer to repurchase the 7.50% Notes at 101.0 percent of the aggregate principal amount, plus accrued and unpaid interest and additional interest, if any, to the date of repurchase. The Indenture restricts our ability and the ability of certain subsidiaries to: (i) sell assets, (ii) pay dividends or make other distributions on capital stock or redeem or repurchase capital stock or subordinated indebtedness, (iii) make investments, (iv) incur or guarantee additional indebtedness, (v) create or incur liens, (vi) enter into sale and leaseback transactions, (vii) incur dividend or other payment restrictions affecting subsidiaries, (viii) merge or consolidate with other entities, (ix) enter into transactions with affiliates, and (x) engage in certain business activities. Additionally, the Indenture contains certain restrictive covenants designating certain events as Events of Default. These covenants are subject to a number of important exceptions and qualifications. 9.125% Senior Notes, due April 2018 On March 22, 2010 , we issued $300.0 million aggregate principal amount of the 9.125% Notes and on April 25, 2012, we issued an additional $125.0 million aggregate principal amount of 9.125% Notes. On January 7, 2014, we commenced a tender and consent solicitation with respect to the 9.125% Notes. The tender offer price was $1,061.98 , inclusive of a $30.00 consent payment for each $1,000 principal amount of 9.125% Notes, plus accrued and unpaid interest. On January 22, 2014, we paid $453.7 million for the tendered 9.125% Notes, comprised of $416.2 million of aggregate principal amount of the 9.125% Notes, $25.8 million of tender and consent premiums and $11.7 million of accrued interest. On April 1, 2014, we redeemed the remaining $8.8 million aggregate principal amount of the outstanding 9.125% Notes for a purchase price of $9.6 million , inclusive of a $0.4 million call premium and $0.4 million of interest. During the year ended December 31, 2014, we recorded a loss on extinguishment of debt of approximately $30.2 million , which included the tender and consent premiums of $25.8 million , the call premium of $0.4 million and the write-off of unamortized debt issuance costs of $7.7 million , partially offset by the write-off of the remaining unamortized debt issuance premium of $3.8 million . 2015 Secured Credit Agreement On January 26, 2015 we entered into the 2015 Secured Credit Agreement, which amended and restated the 2012 Secured Credit Agreement. The 2015 Secured Credit Agreement is comprised of a $200.0 million revolving credit facility (2015 Revolver) and matures on January 26, 2020. At the closing of the 2015 Secured Credit Agreement, we repaid the outstanding $30.0 million of Term Loan borrowings under the 2012 Secured Credit Agreement with a $30.0 million draw on the 2015 Revolver. On June 1, 2015, we executed the first amendment to the 2015 Secured Credit Agreement in order to amend certain provisions of the 2015 Secured Credit Agreement regarding the definition of “Change of Control.” On September 29, 2015, we executed the second amendment to the 2015 Secured Credit Agreement (the “Second Amendment”). Among other things, the Second Amendment: (a) gradually increases the permissible consolidated leverage ratio from a maximum of 4.00:1.00 to 5.75:1.00 through December 31, 2016, which thereafter gradually reduces to 4.00:1.00 by December 31, 2017; (b) reduces the consolidated interest coverage ratio from 2.50:1:00 to 2.25:1.00 for each quarter of 2016, and returning to 2.50:1.00 thereafter; (c) increases the Applicable Rate for certain higher levels of consolidated leverage to a maximum of 4.00 percent per annum for LIBOR rate loans and to 3.00 percent per annum for base rate loans; (d) allows multi-year letters of credit up to an aggregate amount of $5 million; (e) limits payment prior to September 30, 2017 of certain restricted payments and certain prepayments of unsecured senior notes and other specified forms of indebtedness; and (f) removes the option of Company, subject to the consent of the lenders, to increase the Credit Agreement up to an additional $75 million. We incurred debt issuance costs related to the 2015 Secured Credit Agreement of approximately $2.0 million and had approximately $0.8 million of remaining debt issuance costs for the 2012 Secured Credit agreement. The total debt issuance costs of $2.8 million ( $2.6 million , net of amortization as of September 30, 2015 ) are being amortized over the term of the 2015 Secured Credit Agreement on a straight line basis. Our obligations under the 2015 Secured Credit Agreement are guaranteed by substantially all of our direct and indirect domestic subsidiaries, other than immaterial subsidiaries and subsidiaries generating revenues primarily outside the United States, each of which has executed guaranty agreements, and are secured by first priority liens on our accounts receivable, specified rigs including barge rigs in the GOM and land rigs in Alaska, and certain U.S.-based rental equipment of the Company and its subsidiary guarantors. The 2015 Secured Credit Agreement contains customary affirmative and negative covenants, such as limitations on indebtedness, liens, restrictions on entry into certain affiliate transactions and payments (including payment of dividends) and maintenance of certain ratios and coverage tests (including a minimum asset coverage ratio of 1.25:1.00 at each quarter end). We were in compliance with all such covenants as of September 30, 2015 . Our 2015 Revolver is available for general corporate purposes and to support letters of credit. Interest on 2015 Revolver loans accrues at a Base Rate plus an Applicable Rate or LIBOR plus an Applicable Rate. As a result of the Second Amendment, the Applicable Rate ranges from 2.50 percent to 4.00 percent per annum for LIBOR rate loans and from 1.50 percent to 3.00 percent per annum for base rate loans, determined by reference to the consolidated leverage ratio (as defined in the 2015 Secured Credit Agreement). Revolving loans are available subject to a quarterly Asset Coverage Ratio calculation based on the Orderly Liquidation Value of certain specified rigs including barge rigs in the GOM and land rigs in Alaska, and certain U.S.-based rental equipment of the Company and its subsidiary guarantors and a percentage of eligible domestic accounts receivable. The $30.0 million draw at the closing of the 2015 Secured Credit Agreement was repaid in full during the first quarter of 2015 with cash on hand. Letters of credit outstanding against the 2015 Revolver as of September 30, 2015 totaled $13.8 million . There were no amounts drawn on the 2015 Revolver as of September 30, 2015 . 2012 Secured Credit Agreement The 2012 Secured Credit Agreement consisted of an $80.0 million revolving credit facility (2012 Revolver) and a $50.0 million term loan (Term Loan). Our obligations under the 2012 Secured Credit Agreement were guaranteed by substantially all of our direct and indirect domestic subsidiaries other than immaterial subsidiaries and subsidiaries generating revenues primarily outside the United States, each of which had executed guaranty agreements, and were secured by first priority liens on our accounts receivable, specified barge rigs and rental equipment. The 2012 Secured Credit Agreement contained customary affirmative and negative covenants and would have matured on December 14, 2017 . 2012 Revolver Our 2012 Revolver was available for general corporate purposes and to support letters of credit. Interest on 2012 Revolver loans accrued at a Base Rate plus an Applicable Rate or LIBOR plus an Applicable Rate. Under the 2012 Secured Credit Agreement, the Applicable Rate ranged from 2.50 percent to 3.00 percent per annum for LIBOR rate loans and from 1.50 percent to 2.00 percent per annum for base rate loans, determined by reference to the consolidated leverage ratio (as defined in the 2012 Secured Credit Agreement). Revolving loans were available subject to a borrowing base calculation based on a percentage of eligible accounts receivable, certain specified barge drilling rigs and rental equipment of the Company and its subsidiary guarantors. There were no revolving loans outstanding at December 31, 2014 . Letters of credit outstanding against the 2012 Revolver as of December 31, 2014 totaled $11.0 million . Term Loan The Term Loan originated at $50.0 million on December 14, 2012 and required quarterly principal payments of $2.5 million , which began March 31, 2013 . Interest on the Term Loan accrued at a Base Rate plus 2.00 percent or LIBOR plus 3.00 percent . In July 2013, we repaid the outstanding balance of $45.0 million of the Term Loan and amended the 2012 Secured Credit Agreement to permit re-borrowing of up to $45.0 million of the Term Loan, decreasing by $2.5 million at the end of each quarter beginning September 30, 2013 and ending March 31, 2014. In January 2014 we re-borrowed $40.0 million of the Term Loan. The outstanding balance on the Term Loan at December 31, 2014 was $30.0 million . At the closing of the 2015 Secured Credit Agreement, we repaid the Term Loan with a $30.0 million draw under the 2015 Revolver.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Certain of our assets and liabilities are required to be measured at fair value on a recurring basis. For purposes of recording fair value adjustments for certain financial and non-financial assets and liabilities, and determining fair value disclosures, we estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. The fair value measurement and disclosure requirements of FASB Accounting Standards Codification Topic No. 820, Fair Value Measurement and Disclosures (ASC 820) requires inputs that we categorize using a three-level hierarchy, from highest to lowest level of observable inputs, as follows: • Level 1 — Unadjusted quoted prices for identical assets or liabilities in active markets; • Level 2 — Direct or indirect observable inputs, including quoted prices or other market data, for similar assets or liabilities in active markets or identical assets or liabilities in less active markets; • Level 3 — Unobservable inputs that require significant judgment for which there is little or no market data. When multiple input levels are required for a valuation, we categorize the entire fair value measurement according to the lowest level of input that is significant to the entire measurement even though we may also have utilized significant inputs that are more readily observable. The amounts reported in our consolidated balance sheets for cash and cash equivalents, accounts receivable, and accounts payable approximate fair value. Fair value of our debt instruments is determined using Level 2 inputs. Fair values and related carrying values of our debt instruments were as follows for the periods indicated: September 30, 2015 December 31, 2014 Dollars in thousands Carrying Amount Fair Value Carrying Amount Fair Value Long-term Debt 6.75% Notes $ 360,000 $ 285,300 $ 360,000 $ 270,000 7.50% Notes 225,000 187,313 225,000 180,000 Total $ 585,000 $ 472,613 $ 585,000 $ 450,000 Market conditions could cause an instrument to be reclassified from Level 1 to Level 2, or Level 2 to Level 3. There were no transfers between levels of the fair value hierarchy or any changes in the valuation techniques used during the nine months ended September 30, 2015 .

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies We are a party to various lawsuits and claims arising out of the ordinary course of business. We estimate the range of our liability related to pending litigation when we believe the amount or range of loss can be estimated. We record our best estimate of a loss when the loss is considered probable. When a liability is probable and there is a range of estimated loss with no best estimate in the range, we record the minimum estimated liability related to the lawsuits or claims. As additional information becomes available, we assess the potential liability related to our pending litigation and claims and revise our estimates. Due to uncertainties related to the resolution of lawsuits and claims, the ultimate outcome may differ significantly from our estimates. In the opinion of management and based on liability accruals provided, our ultimate exposure with respect to these pending lawsuits and claims is not expected to have a material adverse effect on our consolidated financial position or cash flows, although they could have a material adverse effect on our results of operations for a particular reporting period. Customs Agent and Foreign Corrupt Practices Act (FCPA) Settlement On April 16, 2013, the Company and the Department of Justice (DOJ) entered into a deferred prosecution agreement (DPA), under which the DOJ deferred for three years prosecuting the Company for criminal violations of the anti-bribery provisions of the FCPA relating to the Company’s retention and use of an individual agent in Nigeria with respect to certain customs-related issues, in return for: (i) the Company’s acceptance of responsibility for, and agreement not to contest or contradict the truthfulness of, the statement of facts and allegations that have been filed in a United States District Court concurrently with the DPA; (ii) the Company’s payment of an approximately $11.76 million fine; (iii) the Company’s reaffirming its commitment to compliance with the FCPA and other applicable anti-corruption laws in connection with the Company’s operations, and continuing cooperation with domestic and foreign authorities in connection with the matters that are the subject of the DPA; (iv) the Company’s commitment to continue to address any identified areas for improvement in the Company’s internal controls, policies and procedures relating to compliance with the FCPA and other applicable anti-corruption laws if, and to the extent, not already addressed; and (v) the Company’s agreement to report to the DOJ in writing annually during the term of the DPA regarding remediation of the matters that are the subject of the DPA, implementation of any enhanced internal controls, and any evidence of improper payments the Company may have discovered during the term of the agreement. If the Company remains in compliance with the terms of the DPA throughout its effective period, the charge against the Company will be dismissed with prejudice. The Company also settled a related civil complaint filed by the Securities and Exchange Commission (SEC) in a United States District Court. The Company has provided the DOJ annual written reports in connection with the DPA.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In September 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. This new standard specifies that the acquirer should recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, eliminating the current requirement to retrospectively account for these adjustments. Additionally, the full effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts should be recognized in the same period as the adjustments to the provisional amounts. The standard is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. We plan to adopt this new standard and do not currently anticipate a material impact on our financial position, results of operations and cash flows. In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory, which requires companies to measure inventory at the lower of cost or net realizable value rather than at the lower of cost or market. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The standard is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. We plan to adopt this new standard and do not currently anticipate a material impact on our financial position, results of operations and cash flows. In June 2015, the FASB issued ASU No. 2015-10, Technical Corrections and Improvements, which contains amendments that will affect a wide variety of topics in the Codification. The amendments in this Update will apply to all reporting entities within the scope of the affected accounting guidance. Transition guidance varies based on the amendments in the Update. The amendments in the Update that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments will be effective upon the issuance of this Update. We plan to adopt the standard and are in the process of assessing the impact of the adoption of ASU 2015-10 on our financial position, results of operations and cash flows. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30) - Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the debt liability rather than as an asset. Final guidance on this standard, issued as ASU 2015-15 in August 2015, includes an SEC staff announcement that the SEC staff will not object to an entity presenting the cost of securing a revolving line of credit as an asset, regardless of whether a balance is outstanding. Early adoption is permitted. Upon adoption, an entity must apply the new guidance retrospectively to all prior periods presented in the financial statements. We plan to adopt the standard on a retrospective basis effective January 1, 2016 and expect that it will result in the netting of our deferred financing costs against long-term debt balances on the consolidated balance sheets for the periods presented. There will be no impact to the manner in which deferred financing costs are amortized in our consolidated financial statements. On May 28, 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. This ASU supersedes the revenue recognition requirements in Accounting Standards Codification 605 - Revenue Recognition and most industry-specific guidance throughout the Codification. The standard requires that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services and should be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the ASU recognized at the date of initial application. ASU 2014-09 was initially scheduled to be effective for the first quarter of 2017, however, on April 1, 2015, the FASB proposed to defer the effective date by one year and the proposal was accepted during the second quarter of 2015. ASU 2014-09 is now scheduled to be effective for entities beginning after December 15, 2017. We are in the process of assessing the impact of the adoption of ASU 2014-09 on our financial position, results of operations and cash flows. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting.

Parent, Guarantor, Non-Guaranto

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements	Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements Set forth on the following pages are the consolidating condensed financial statements of Parker Drilling. The 2015 Secured Credit Agreement and Senior Notes are fully and unconditionally guaranteed by substantially all of our direct and indirect domestic subsidiaries, other than immaterial subsidiaries and subsidiaries generating revenues primarily outside the United States, subject to the following customary release provisions: • in connection with any sale or other disposition of all or substantially all of the assets of that guarantor (including by way of merger or consolidation) to a person that is not (either before or after giving effect to such transaction) a subsidiary of the Company; • in connection with any sale of such amount of capital stock as would result in such guarantor no longer being a subsidiary to a person that is not (either before or after giving effect to such transaction) a subsidiary of the Company; • if the Company designates any restricted subsidiary that is a guarantor as an unrestricted subsidiary; • if the guarantee by a guarantor of all other indebtedness of the Company or any other guarantor is released, terminated or discharged, except by, or as a result of, payment under such guarantee; or • upon legal defeasance or covenant defeasance (satisfaction and discharge of the indenture). There are currently no restrictions on the ability of the restricted subsidiaries to transfer funds to Parker Drilling in the form of cash dividends, loans or advances. Parker Drilling is a holding company with no operations, other than through its subsidiaries. Separate financial statements for each guarantor company are not provided as the Company complies with the exception to Rule 3-10(a)(1) of Regulation S-X, set forth in sub-paragraph (f) of such rule. All guarantor subsidiaries are owned 100 percent by the parent company. We are providing unaudited consolidating condensed financial information of the parent, Parker Drilling, the guarantor subsidiaries, and the non-guarantor subsidiaries as of September 30, 2015 and December 31, 2014 and for the three and nine months ended September 30, 2015 and 2014 , respectively. The consolidating condensed financial statements present investments in both consolidated and unconsolidated subsidiaries using the equity method of accounting. Upon the closing of our 2015 Secured Credit Agreement, one of our subsidiaries was released as a guarantor subsidiary and is now classified as a non-guarantor subsidiary. In accordance with the guidance Topic No. 810, Consolidation (ASC 810), we have retrospectively updated the unaudited consolidating condensed financial information as of December 31, 2014 and for the three and nine months ended September 30, 2014 . PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 46,528 $ 8,000 $ 50,123 $ — $ 104,651 Accounts and notes receivable, net — 66,413 158,583 — 224,996 Rig materials and supplies — (4,279 ) 42,795 — 38,516 Deferred costs — — 2,961 — 2,961 Deferred income taxes — 4,172 1,276 — 5,448 Other tax assets — 463 7,369 — 7,832 Other current assets — 6,717 10,484 — 17,201 Total current assets 46,528 81,486 273,591 — 401,605 Property, plant and equipment, net (19 ) 560,618 281,324 — 841,923 Goodwill — 6,708 — — 6,708 Intangible assets, net — 12,317 2,424 — 14,741 Investment in subsidiaries and intercompany advances 3,074,849 2,700,571 3,147,601 (8,923,021 ) — Other noncurrent assets (276,366 ) 374,987 246,033 (167,448 ) 177,206 Total assets $ 2,844,992 $ 3,736,687 $ 3,950,973 $ (9,090,469 ) $ 1,442,183 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current portion of long-term debt $ — $ — $ — $ — $ — Accounts payable and accrued liabilities 67,123 77,565 303,001 (304,113 ) 143,576 Accrued income taxes 1,013 9,434 (3,853 ) — 6,594 Total current liabilities 68,136 86,999 299,148 (304,113 ) 150,170 Long-term debt 585,000 — — — 585,000 Other long-term liabilities 2,867 8,004 9,270 — 20,141 Long-term deferred tax liability — 75,545 (348 ) — 75,197 Intercompany payables 1,581,364 1,395,937 1,711,311 (4,688,612 ) — Total liabilities 2,237,367 1,566,485 2,019,381 (4,992,725 ) 830,508 Total equity 607,625 2,170,202 1,931,592 (4,097,744 ) 611,675 Total liabilities and stockholders’ equity $ 2,844,992 $ 3,736,687 $ 3,950,973 $ (9,090,469 ) $ 1,442,183 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) December 31, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 36,728 $ 13,546 $ 58,182 $ — $ 108,456 Accounts and notes receivable, net (33 ) 96,100 174,885 — 270,952 Rig materials and supplies — (1,473 ) 49,416 — 47,943 Deferred costs — — 5,673 — 5,673 Deferred income taxes — 6,131 1,345 — 7,476 Other tax assets 19,885 (18,273 ) 9,111 — 10,723 Other current assets — 7,998 10,558 — 18,556 Total current assets 56,580 104,029 309,170 — 469,779 Property, plant and equipment, net (19 ) 589,055 306,904 — 895,940 Intangible assets, net — — 4,286 — 4,286 Investment in subsidiaries and intercompany advances 3,060,867 2,441,523 2,464,506 (7,966,896 ) — Other noncurrent assets (440,918 ) 490,597 268,537 (167,562 ) 150,654 Total assets $ 2,676,510 $ 3,625,204 $ 3,353,403 $ (8,134,458 ) $ 1,520,659 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current portion of long-term debt $ 10,000 $ — $ — $ — $ 10,000 Accounts payable and accrued liabilities 77,603 71,645 309,344 (304,113 ) 154,479 Accrued income taxes (4,061 ) 10,109 8,138 — 14,186 Total current liabilities 83,542 81,754 317,482 (304,113 ) 178,665 Long-term debt 605,000 — — — 605,000 Other long-term liabilities 2,867 7,135 8,663 — 18,665 Long-term deferred tax liability — 56,105 (3,990 ) — 52,115 Intercompany payables 1,322,172 1,311,404 1,204,769 (3,838,345 ) — Total liabilities 2,013,581 1,456,398 1,526,924 (4,142,458 ) 854,445 Total equity 662,929 2,168,806 1,826,479 (3,992,000 ) 666,214 Total liabilities and stockholders’ equity $ 2,676,510 $ 3,625,204 $ 3,353,403 $ (8,134,458 ) $ 1,520,659 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Three months ended September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 59,252 $ 138,564 $ (24,398 ) $ 173,418 Operating expenses — 32,457 120,904 (24,398 ) 128,963 Depreciation and amortization — 24,002 15,582 — 39,584 Total operating gross margin — 2,793 2,078 — 4,871 General and administration expense (1) (148 ) (8,857 ) 110 — (8,895 ) Provision for reduction in carrying value of certain assets — (920 ) 14 — (906 ) Gain (Loss) on disposition of assets, net — 407 (24 ) — 383 Total operating income (loss) (148 ) (6,577 ) 2,178 — (4,547 ) Other income and (expense): Interest expense (11,020 ) (268 ) (2,618 ) 2,613 (11,293 ) Interest income 173 (18 ) 2,465 (2,613 ) 7 Other — (102 ) (617 ) — (719 ) Equity in net earnings of subsidiaries (29,913 ) — — 29,913 — Total other income (expense) (40,760 ) (388 ) (770 ) 29,913 (12,005 ) Income (loss) before income taxes (40,908 ) (6,965 ) 1,408 29,913 (16,552 ) Total income tax expense (benefit) 7,712 (2,846 ) 27,064 — 31,930 Net income (loss) (48,620 ) (4,119 ) (25,656 ) 29,913 (48,482 ) Less: Net income attributable to noncontrolling interest — — 138 — 138 Net income (loss) attributable to controlling interest $ (48,620 ) $ (4,119 ) $ (25,794 ) $ 29,913 $ (48,620 ) (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Three Months Ended September 30, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 129,935 $ 156,495 $ (44,418 ) $ 242,012 Operating expenses — 65,369 139,846 (44,418 ) 160,797 Depreciation and amortization — 22,168 13,981 — 36,149 Total operating gross margin — 42,398 2,668 — 45,066 General and administration expense (1) 110 (8,988 ) (492 ) — (9,370 ) Gain (loss) on disposition of assets, net — 91 (548 ) — (457 ) Total operating income (loss) 110 33,501 1,628 — 35,239 Other income and (expense): Interest expense (11,529 ) (35 ) (1,943 ) 2,659 (10,848 ) Interest income 98 176 2,421 (2,659 ) 36 Other — 675 (1,211 ) — (536 ) Equity in net earnings of subsidiaries 19,442 — — (19,442 ) — Total other income (expense) 8,011 816 (733 ) (19,442 ) (11,348 ) Income (loss) before income taxes 8,121 34,317 895 (19,442 ) 23,891 Income tax expense (benefit) (4,445 ) 14,337 1,122 — 11,014 Net income (loss) 12,566 19,980 (227 ) (19,442 ) 12,877 Less: Net income attributable to noncontrolling interest — — 311 — 311 Net income (loss) attributable to controlling interest $ 12,566 $ 19,980 $ (538 ) $ (19,442 ) $ 12,566 (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Nine Months Ended September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 201,924 $ 452,197 $ (90,686 ) $ 563,435 Operating expenses — 112,229 390,259 (90,686 ) 411,802 Depreciation and amortization — 71,270 47,204 — 118,474 Total operating gross margin — 18,425 14,734 — 33,159 General and administration expense (1) (1,152 ) (31,896 ) 3,805 — (29,243 ) Provision for reduction in carrying value of certain assets — (920 ) (2,302 ) — (3,222 ) Gain on disposition of assets, net — 452 2,234 — 2,686 Total operating income (loss) (1,152 ) (13,939 ) 18,471 — 3,380 Other income and (expense): Interest expense (33,145 ) (608 ) (5,956 ) 5,942 (33,767 ) Interest income 756 (12 ) 5,407 (5,942 ) 209 Other — (81 ) (3,547 ) — (3,628 ) Equity in net earnings of subsidiaries (29,316 ) — — 29,316 — Total other income (expense) (61,705 ) (701 ) (4,096 ) 29,316 (37,186 ) Income (benefit) before income taxes (62,857 ) (14,640 ) 14,375 29,316 (33,806 ) Total income tax expense (benefit) (3,430 ) (5,656 ) 33,918 — 24,832 Net income (loss) (59,427 ) (8,984 ) (19,543 ) 29,316 (58,638 ) Less: Net income attributable to noncontrolling interest — — 789 — 789 Net income (loss) attributable to controlling interest $ (59,427 ) $ (8,984 ) $ (20,332 ) $ 29,316 $ (59,427 ) (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Nine Months Ended September 30, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 396,536 $ 461,460 $ (132,525 ) $ 725,471 Operating expenses — 222,846 411,070 (132,525 ) 501,391 Depreciation and amortization — 63,343 43,323 — 106,666 Total operating gross margin — 110,347 7,067 — 117,414 General and administration expense (1) (195 ) (23,806 ) (1,340 ) — (25,341 ) Gain (loss) on disposition of assets, net (79 ) 522 (10 ) — 433 Total operating income (loss) (274 ) 87,063 5,717 — 92,506 Other income and (expense): Interest expense (35,542 ) (120 ) (6,356 ) 8,532 (33,486 ) Interest income 632 553 7,503 (8,532 ) 156 Extinguishment of debt (30,152 ) — — — (30,152 ) Other — 860 531 — 1,391 Equity in net earnings of subsidiaries 50,591 — — (50,591 ) — Total other income (expense) (14,471 ) 1,293 1,678 (50,591 ) (62,091 ) Income (loss) before income taxes (14,745 ) 88,356 7,395 (50,591 ) 30,415 Total income tax expense (benefit) (30,443 ) 34,187 10,349 — 14,093 Net income (loss) 15,698 54,169 (2,954 ) (50,591 ) 16,322 Less: Net income attributable to noncontrolling interest — — 624 — 624 Net income (loss) attributable to controlling interest $ 15,698 $ 54,169 $ (3,578 ) $ (50,591 ) $ 15,698 (1) General and administration expenses for field operations are included in operating expenses. PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Three Months Ended September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ (48,620 ) $ (4,119 ) $ (25,656 ) $ 29,913 $ (48,482 ) Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (1,285 ) — (1,285 ) Currency translation difference on foreign currency net investments — — 588 — 588 Total other comprehensive income (loss), net of tax: — — (697 ) — (697 ) Comprehensive income (loss) (48,620 ) (4,119 ) (26,353 ) 29,913 (49,179 ) Comprehensive (loss) attributable to noncontrolling interest — — (82 ) — (82 ) Comprehensive income (loss) attributable to controlling interest $ (48,620 ) $ (4,119 ) $ (26,435 ) $ 29,913 $ (49,261 ) PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Three Months Ended September 30, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ 12,566 $ 19,980 $ (227 ) $ (19,442 ) $ 12,877 Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (1,780 ) — (1,780 ) Currency translation difference on foreign currency net investments — — 615 — 615 Total other comprehensive income (loss), net of tax: — — (1,165 ) — (1,165 ) Comprehensive income (loss) 12,566 19,980 (1,392 ) (19,442 ) 11,712 Comprehensive (loss) attributable to noncontrolling interest — — (289 ) — (289 ) Comprehensive income (loss) attributable to controlling interest $ 12,566 $ 19,980 $ (1,681 ) $ (19,442 ) $ 11,423 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Nine Months Ended September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ (59,427 ) $ (8,984 ) $ (19,543 ) $ 29,316 $ (58,638 ) Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (2,308 ) — (2,308 ) Currency translation difference on foreign currency net investments — — 1,462 — 1,462 Total other comprehensive income (loss), net of tax: — — (846 ) — (846 ) Comprehensive income (loss) (59,427 ) (8,984 ) (20,389 ) 29,316 (59,484 ) Comprehensive (loss) attributable to noncontrolling interest — — (571 ) — (571 ) Comprehensive income (loss) attributable to controlling interest $ (59,427 ) $ (8,984 ) $ (20,960 ) $ 29,316 $ (60,055 ) PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Nine Months Ended September 30, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ 15,698 $ 54,169 $ (2,954 ) $ (50,591 ) $ 16,322 Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (2,248 ) — (2,248 ) Currency translation difference on foreign currency net investments — — 1,126 — 1,126 Total other comprehensive income (loss), net of tax: — — (1,122 ) — (1,122 ) Comprehensive income (loss) 15,698 54,169 (4,076 ) (50,591 ) 15,200 Comprehensive (loss) attributable to noncontrolling interest — — (523 ) — (523 ) Comprehensive income (loss) attributable to controlling interest $ 15,698 $ 54,169 $ (4,599 ) $ (50,591 ) $ 14,677 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Nine Months Ended September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (59,427 ) $ (8,984 ) $ (19,543 ) $ 29,316 $ (58,638 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 71,270 47,204 — 118,474 Accretion of contingent consideration — — 547 — 547 Provision for reduction in carrying value of certain assets — 920 2,302 — 3,222 Gain on disposition of assets — (452 ) (2,234 ) — (2,686 ) Deferred income tax expense (24,184 ) 10,032 24,411 — 10,259 Expenses not requiring cash 6,498 2,677 (1,146 ) — 8,029 Equity in net earnings of subsidiaries 29,316 — — (29,316 ) — Change in assets and liabilities: Accounts and notes receivable (33 ) 36,694 14,593 — 51,254 Other assets (121,465 ) 110,017 12,934 — 1,486 Accounts payable and accrued liabilities (10,480 ) (168 ) (5,142 ) — (15,790 ) Accrued income taxes 6,481 (2,081 ) (11,705 ) — (7,305 ) Net cash provided by (used in) operating activities (173,294 ) 219,925 62,221 — 108,852 Cash flows from investing activities: Capital expenditures — (50,396 ) (22,073 ) — (72,469 ) Proceeds from the sale of assets — 489 242 — 731 Proceeds from insurance settlements — — 2,500 — 2,500 Acquisition, net of cash acquired — (10,431 ) — — (10,431 ) Net cash (used in) investing activities — (60,338 ) (19,331 ) — (79,669 ) Cash flows from financing activities: Repayments of long-term debt (30,000 ) — — — (30,000 ) Payment of debt issuance costs (1,996 ) — — — (1,996 ) Excess tax benefit from stock-based compensation (992 ) — — — (992 ) Intercompany advances, net 216,082 (165,133 ) (50,949 ) — — Net cash provided by (used in) financing activities 183,094 (165,133 ) (50,949 ) — (32,988 ) Net change in cash and cash equivalents 9,800 (5,546 ) (8,059 ) — (3,805 ) Cash and cash equivalents at beginning of year 36,728 13,546 58,182 — 108,456 Cash and cash equivalents at end of year $ 46,528 $ 8,000 $ 50,123 $ — $ 104,651 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Nine Months Ended September 30, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ 15,698 $ 54,169 $ (2,954 ) $ (50,591 ) $ 16,322 Adjustments to reconcile net income (loss) Depreciation and amortization — 63,343 43,323 — 106,666 Loss on extinguishment of debt 30,152 — — — 30,152 Gain on disposition of assets 79 (522 ) 10 — (433 ) Deferred income tax expense (15,774 ) 12,525 3,322 — 73 Expenses not requiring cash 9,940 (1,538 ) 1,739 — 10,141 Equity in net earnings of subsidiaries (50,591 ) — — 50,591 — Change in assets and liabilities: Accounts and notes receivable — (1,715 ) (3,473 ) — (5,188 ) Other assets 43,412 (58,441 ) 22,583 — 7,554 Accounts payable and accrued liabilities (8,213 ) (9,395 ) 7,069 — (10,539 ) Accrued income taxes (13,232 ) 11,764 (8,929 ) — (10,397 ) Net cash provided by (used in) operating activities 11,471 70,190 62,690 — 144,351 Cash flows from investing activities: Capital expenditures — (107,137 ) (43,972 ) — (151,109 ) Proceeds from the sale of assets — 1,088 1,206 — 2,294 Net cash (used in) investing activities — (106,049 ) (42,766 ) — (148,815 ) Cash flows from financing activities: Proceeds from debt issuance 400,000 — — — 400,000 Repayments of long-term debt (432,500 ) — — — (432,500 ) Payment of debt issuance costs (7,630 ) — — — (7,630 ) Payment of debt extinguishment costs (26,214 ) — — — (26,214 ) Excess tax benefit from stock-based compensation 430 — — — 430 Intercompany advances, net (10,677 ) 40,064 (29,387 ) — — Net cash provided by (used in) financing activities (76,591 ) 40,064 (29,387 ) — (65,914 ) Net change in cash and cash equivalents (65,120 ) 4,205 (9,463 ) — (70,378 ) Cash and cash equivalents at beginning of year 88,697 8,310 51,682 — 148,689 Cash and cash equivalents at end of year $ 23,577 $ 12,515 $ 42,219 $ — $ 78,311

General (Policies)

General (Policies) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accounting Policies [Abstract]
Nature of Operations			Nature of Operations — Our business is comprised of two business lines: (1) Drilling Services and (2) Rental Tools Services. We report our Rental Tools Services business as one reportable segment (Rental Tools) and report our Drilling Services business as two reportable segments: (1) U.S. (Lower 48) Drilling and (2) International & Alaska Drilling. In our Drilling Services business, we own and operate drilling rigs and drilling-related equipment and also perform drilling-related services, referred to as operations and maintenance (O&M) services, on a contracted basis for operators who own their own drilling rigs, but choose Parker Drilling to operate the rigs for them. In addition, we provide consulting services, such as engineering, procurement, project management and commissioning of customer-owned drilling facility projects. We have extensive experience and expertise in drilling geologically difficult wells and in managing the logistical and technological challenges of operating in remote, harsh and ecologically sensitive areas. Our U.S. (Lower 48) Drilling segment includes our Gulf of Mexico (GOM) barge drilling fleet and United States (U.S.) based O&M services. Our GOM barge drilling business operates barge rigs that drill for oil and natural gas in shallow waters in and along the inland waterways and coasts of Louisiana, Alabama, and Texas. The majority of these wells are drilled in shallow water depths ranging from 6 to 12 feet. Our International & Alaska Drilling segment includes operations related to Parker-owned and customer-owned rigs in the Eastern Hemisphere and Latin America regions as well as Alaska. Our Rental Tools Services business provides premium rental equipment and services to exploration and production companies, drilling contractors and service companies on land and offshore in the U.S. and select international markets. Tools we provide include standard and heavy-weight drill pipe, all of which are available with standard or high-torque connections, tubing, pressure control equipment including blow-out preventers (BOPs), drill collars and more. We also provide well construction services which include tubular running services and downhole tools and well intervention services which include whipstock, fishing products and related services, as well as inspection and machine shop support.
Consolidation			Consolidation — The consolidated financial statements include the accounts of the Company and subsidiaries in which we exercise control or have a controlling financial interest, including entities, if any, in which the Company is allocated a majority of the entity’s losses or returns, regardless of ownership percentage. If a subsidiary of Parker Drilling has a 50 percent interest in an entity but Parker Drilling’s interest in the subsidiary or the entity does not meet the consolidation criteria described above, then that interest is accounted for under the equity method. In the second quarter of 2015 we recognized through other income and expense a $0.9 million loss related to the divestiture of our controlling interest in a joint venture.
Noncontrolling Interest			Noncontrolling Interest — We apply accounting standards related to noncontrolling interests for ownership interests in our subsidiaries held by parties other than Parker Drilling. The entities that comprise the noncontrolling interest include ITS Arabia Limited and ITS Egypt SAE. We report noncontrolling interest as equity on the consolidated balance sheets and report net income (loss) attributable to controlling interest and to noncontrolling interest separately on the consolidated statements of operations.
Reclassifications [Text Block]			Reclassifications — Certain reclassifications have been made to prior period amounts to conform to the current period presentation. These reclassifications did not materially affect our consolidated financial results.
Revenue Recognition			Revenue Recognition — Drilling revenues and expenses, comprised of daywork drilling contracts, call-outs against master service agreements and engineering and related project service contracts, are recognized as services are performed and collection is reasonably assured. For certain contracts, we receive payments contractually designated for the mobilization of rigs and other drilling equipment. Mobilization payments received, and direct costs incurred for the mobilization, are deferred and recognized over the primary term of the related drilling contract; however, costs incurred to relocate rigs and other drilling equipment to areas in which a contract has not been secured are expensed as incurred. For contracts that are terminated prior to the specified term, early termination payments received by us are recognized as revenues when all contractual requirements are met. Revenues from rental activities are recognized ratably over the rental term, which is generally less than six months. Our project related services contracts include engineering, consulting, and project management scopes of work and revenue is typically recognized on a time and materials basis.
Reimbursable Costs Policy [Text Block]			Reimbursable Costs — The Company recognizes reimbursements received for out-of-pocket expenses incurred as revenues and accounts for out-of-pocket expenses as direct operating costs. Reimbursable costs totaled $20.8 million and $19.3 million for the three months ended September 30, 2015 and 2014 , respectively, and $68.4 million and $57.5 million for the nine months ended September 30, 2015 and 2014 , respectively. Additionally, the Company typically receives a nominal handling fee, which is recognized as earned revenues in our consolidated statement of operations.
Reimbursable Costs	$ 20.8	$ 19.3	$ 68.4	$ 57.5
Use of Estimates			Use of Estimates — The preparation of financial statements in accordance with accounting policies generally accepted in the United States (U.S. GAAP) requires management to make estimates and assumptions that affect our reported amounts of assets and liabilities, our disclosure of contingent assets and liabilities at the date of the financial statements, and our revenues and expenses during the periods reported. Estimates are typically used when accounting for certain significant items such as legal or contractual liability accruals, mobilization and deferred mobilization, self-insured medical/dental plans, income taxes and valuation allowance, and other items requiring the use of estimates. Estimates are based on a number of variables which may include third party valuations, historical experience, where applicable, and assumptions that we believe are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ from management estimates.
Business Combination Disclosure [Text Block]			Purchase Price Allocation — We allocate the purchase price of an acquired business to its identifiable assets and liabilities in accordance with the acquisition method based on estimated fair values at the transaction date. Transaction and integration costs associated with an acquisition are expensed as incurred. The excess of the purchase price over the amount allocated to the assets and liabilities, if any, is recorded as goodwill. We use all available information to estimate fair values, including quoted market prices, the carrying value of acquired assets, and widely accepted valuation techniques such as discounted cash flows. We typically engage third-party appraisal firms to assist in fair value determination of inventories, identifiable intangible assets, and any other significant assets or liabilities. Judgments made in determining the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact our results of operations. Acquisitions Acquisition of ITS On April 22, 2013 we acquired International Tubular Services Limited (ITS) and related assets (the ITS Acquisition) for an initial purchase price of $101.0 million paid at the closing of the ITS Acquisition. An additional $24.0 million was deposited into an escrow account, to be payable to the seller or to us, as the case may be, in accordance with the ITS Acquisition agreement (the Acquisition Agreement). As of September 30, 2015 , the escrow account is closed, with $20.7 million of the cash deposited in escrow released to the seller (or to third parties on behalf of the seller) and $3.3 million released to us ( $2.75 million received in 2014 and $0.5 million received during the nine months ended September 30, 2015 ). Acquisition of 2M-Tek On April 17, 2015 we acquired 2M-Tek, a Louisiana-based manufacturer of equipment for tubular running and related well services for an initial purchase price of $10.4 million paid at the closing of the acquisition (the 2M-Tek Acquisition), plus $8.0 million of contingent consideration payable to the seller upon the achievement of certain milestones over the 24-month period following the close of the 2M-Tek Acquisition. The fair value of the consideration transferred was $17.2 million , which includes the $10.4 million paid at closing plus the estimated fair value of the contingent consideration of $6.8 million . We have recorded the fair value of the liability for contingent consideration in "accrued liabilities" on our condensed consolidated balance sheet. The operations and related assets acquired and liabilities assumed will be reported as part of our Rental Tools segment. This acquisition will complement our existing international tubular running services (TRS) business. The acquisition secures our access to a proprietary casing running tool while minimizing the total capital cost of TRS equipment going forward. Allocation of Consideration Transferred to Net Assets Acquired The purchase price has been allocated to the fair value of the assets acquired and liabilities assumed. The allocation is preliminary and based on estimates and assumptions that are subject to change within the purchase price allocation period (generally one year from the acquisition date). The company used recognized valuation techniques to determine the fair value of the assets and liabilities. The assets acquired and liabilities assumed were recorded at fair value in accordance with U.S. GAAP. Acquisition date fair values represent either Level 2 (as defined in Note 11 - Fair Value of Financial Instruments) fair value measurements (current assets and liabilities, property plant and equipment) or Level 3 (as defined in Note 11 ) fair value measurements (intangible assets). Dollars in thousands April 17, 2015 Current Assets: Cash and Cash Equivalents $ 17 Accounts Receivable, net 1,112 Rig materials and supplies 883 Total current assets $ 2,012 Property, plant and equipment 477 Goodwill 6,708 Intangible assets 13,470 Total Assets $ 22,667 Current Liabilities: Accounts payable and accrued liabilities 863 Total current liabilities 863 Deferred tax liability - noncurrent 4,601 Total Liabilities 5,464 Net Assets Acquired 17,203 Total consideration transferred $ 17,203 Pro forma results of operations have not been presented because the effect of the acquisition was not material to our results of operations. Acquisition-related costs for the nine months ended September 30, 2015 were approximately $0.4 million .
Goodwill Disclosure [Text Block]			Goodwill — We account for all business combinations using the acquisition method of accounting. Under this method, assets and liabilities, including any remaining noncontrolling interests, are recognized at fair value at the date of acquisition. The excess of the purchase price over the fair value of assets acquired, net of liabilities assumed, plus the value of any noncontrolling interests, is recognized as goodwill. We are required to test goodwill for impairment on an annual basis, and more frequently when negative conditions or other triggering events arise.
Intangible Assets			Our intangible assets are related to trademarks, trade names, customer relationships, and developed technology, which were acquired through acquisition and are generally amortized over a weighted average period of approximately three to six years. We assess the recoverability of the unamortized balance of our intangible assets when indicators of impairment are present based on expected future profitability and undiscounted expected cash flows and their contribution to our overall operations. Should the review indicate that the carrying value is not fully recoverable, the excess of the carrying value over the fair value of the intangible assets would be recognized as an impairment loss. See Note 3 - Goodwill and Intangible Assets for further discussion.
Concentrations of Credit Risk			Concentrations of Credit Risk — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of trade receivables with a variety of major, independent, national and international oil and gas companies and integrated service providers. We generally do not require collateral on our trade receivables. We depend on a limited number of significant customers. Our largest customer, Exxon Neftegas Limited (ENL) , constituted approximately 27.0 percent of our revenues for the nine months ended September 30, 2015 . Each of our segments depends on a limited number of key customers and the loss of any one or more key customers could have a material adverse effect on a segment. At September 30, 2015 and December 31, 2014 , we had deposits in domestic banks in excess of federally insured limits of approximately $62.1 million and $59.3 million , respectively. In addition, as of September 30, 2015 and December 31, 2014 , we had deposits that were not insured in foreign banks of $43.1 million and $54.4 million , respectively.
Recent Accounting Pronouncements			Recent Accounting Pronouncements In September 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. This new standard specifies that the acquirer should recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, eliminating the current requirement to retrospectively account for these adjustments. Additionally, the full effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts should be recognized in the same period as the adjustments to the provisional amounts. The standard is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. We plan to adopt this new standard and do not currently anticipate a material impact on our financial position, results of operations and cash flows. In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory, which requires companies to measure inventory at the lower of cost or net realizable value rather than at the lower of cost or market. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The standard is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. We plan to adopt this new standard and do not currently anticipate a material impact on our financial position, results of operations and cash flows. In June 2015, the FASB issued ASU No. 2015-10, Technical Corrections and Improvements, which contains amendments that will affect a wide variety of topics in the Codification. The amendments in this Update will apply to all reporting entities within the scope of the affected accounting guidance. Transition guidance varies based on the amendments in the Update. The amendments in the Update that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments will be effective upon the issuance of this Update. We plan to adopt the standard and are in the process of assessing the impact of the adoption of ASU 2015-10 on our financial position, results of operations and cash flows. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30) - Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the debt liability rather than as an asset. Final guidance on this standard, issued as ASU 2015-15 in August 2015, includes an SEC staff announcement that the SEC staff will not object to an entity presenting the cost of securing a revolving line of credit as an asset, regardless of whether a balance is outstanding. Early adoption is permitted. Upon adoption, an entity must apply the new guidance retrospectively to all prior periods presented in the financial statements. We plan to adopt the standard on a retrospective basis effective January 1, 2016 and expect that it will result in the netting of our deferred financing costs against long-term debt balances on the consolidated balance sheets for the periods presented. There will be no impact to the manner in which deferred financing costs are amortized in our consolidated financial statements. On May 28, 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. This ASU supersedes the revenue recognition requirements in Accounting Standards Codification 605 - Revenue Recognition and most industry-specific guidance throughout the Codification. The standard requires that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services and should be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the ASU recognized at the date of initial application. ASU 2014-09 was initially scheduled to be effective for the first quarter of 2017, however, on April 1, 2015, the FASB proposed to defer the effective date by one year and the proposal was accepted during the second quarter of 2015. ASU 2014-09 is now scheduled to be effective for entities beginning after December 15, 2017. We are in the process of assessing the impact of the adoption of ASU 2014-09 on our financial position, results of operations and cash flows. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting.

Earnings per share (EPS) (Table

Earnings per share (EPS) (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, 2015 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ (48,620,000 ) 122,933,518 $ (0.40 ) Effect of dilutive securities: Restricted stock units — — — Diluted EPS $ (48,620,000 ) 122,933,518 $ (0.40 ) Nine Months Ended September 30, 2015 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ (59,427,000 ) 122,430,957 $ (0.49 ) Effect of dilutive securities: Restricted stock units — — — Diluted EPS $ (59,427,000 ) 122,430,957 $ (0.49 ) Three Months Ended September 30, 2014 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ 12,566,000 121,523,674 $ 0.10 Effect of dilutive securities: Restricted stock units — 1,654,079 — Diluted EPS $ 12,566,000 123,177,753 $ 0.10 Nine Months Ended September 30, 2014 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ 15,698,000 120,994,728 $ 0.13 Effect of dilutive securities: Restricted stock units — 1,977,286 — Diluted EPS $ 15,698,000 122,972,014 $ 0.13

Accumulated Other Comprehensi21

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of accumulated other comprehensive income	Accumulated other comprehensive loss consisted of the following: Dollars in thousands Foreign Currency Items December 31, 2014 $ (498 ) Current period other comprehensive (loss) (629 ) September 30, 2015 $ (1,127 )

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Results of Operations by Reportable Segment	The following table represents the results of operations by reportable segment: Three Months Ended September 30, Nine Months Ended September 30, Dollars in thousands 2015 2014 2015 2014 Revenues: (1) U.S. (Lower 48) Drilling $ 5,961 $ 44,409 $ 26,906 $ 126,281 International & Alaska Drilling 110,661 109,892 339,551 343,803 Rental Tools 56,796 87,711 196,978 255,387 Total revenues 173,418 242,012 563,435 725,471 Operating gross margin: (2) U.S. (Lower 48) Drilling (7,397 ) 16,283 (20,673 ) 42,829 International & Alaska Drilling 13,212 9,131 37,428 23,824 Rental Tools (944 ) 19,652 16,404 50,761 Total operating gross margin 4,871 45,066 33,159 117,414 General and administrative expense (8,895 ) (9,370 ) (29,243 ) (25,341 ) Provision for reduction in carrying value of certain assets (906 ) — (3,222 ) — Gain (loss) on disposition of assets, net 383 (457 ) 2,686 433 Total operating income (loss) (4,547 ) 35,239 3,380 92,506 Interest expense (11,293 ) (10,848 ) (33,767 ) (33,486 ) Interest income 7 36 209 156 Loss on extinguishment of debt — — — (30,152 ) Other income (loss) (719 ) (536 ) (3,628 ) 1,391 Income (loss) from continuing operations before income taxes $ (16,552 ) $ 23,891 $ (33,806 ) $ 30,415 (1) For the nine months ended September 30, 2015 , our largest customer, Exxon Neftegas Limited (ENL) , constituted approximately 27.0 percent of our total consolidated revenues and approximately 44.7 percent of our International & Alaska Drilling segment revenues. For the nine months ended September 30, 2014 , our largest customer, ENL , constituted approximately 18.9 percent of our total consolidated revenues and approximately 39.9 percent of our International & Alaska Drilling segment revenues. (2) Operating gross margin is calculated as revenues less direct operating expenses, including depreciation and amortization expense.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Summary of Company's Current Debt Portfolio	The following table illustrates our debt portfolio as of September 30, 2015 and December 31, 2014 : Dollars in thousands September 30, December 31, 6.75% Senior Notes, due July 2022 $ 360,000 $ 360,000 7.50% Senior Notes, due August 2020 225,000 225,000 Term Note, due December 2017 — 30,000 Total debt 585,000 615,000 Less current portion (1) — 10,000 Total long-term debt $ 585,000 $ 605,000 (1) Current portion of the Term Loan.

Fair Value of Financial Instr24

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Values and Related Carrying Values of Debt Instruments	Fair value of our debt instruments is determined using Level 2 inputs. Fair values and related carrying values of our debt instruments were as follows for the periods indicated: September 30, 2015 December 31, 2014 Dollars in thousands Carrying Amount Fair Value Carrying Amount Fair Value Long-term Debt 6.75% Notes $ 360,000 $ 285,300 $ 360,000 $ 270,000 7.50% Notes 225,000 187,313 225,000 180,000 Total $ 585,000 $ 472,613 $ 585,000 $ 450,000

Parent, Guarantor, Non-Guaran25

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidating Condensed Balance Sheet	PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) December 31, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 36,728 $ 13,546 $ 58,182 $ — $ 108,456 Accounts and notes receivable, net (33 ) 96,100 174,885 — 270,952 Rig materials and supplies — (1,473 ) 49,416 — 47,943 Deferred costs — — 5,673 — 5,673 Deferred income taxes — 6,131 1,345 — 7,476 Other tax assets 19,885 (18,273 ) 9,111 — 10,723 Other current assets — 7,998 10,558 — 18,556 Total current assets 56,580 104,029 309,170 — 469,779 Property, plant and equipment, net (19 ) 589,055 306,904 — 895,940 Intangible assets, net — — 4,286 — 4,286 Investment in subsidiaries and intercompany advances 3,060,867 2,441,523 2,464,506 (7,966,896 ) — Other noncurrent assets (440,918 ) 490,597 268,537 (167,562 ) 150,654 Total assets $ 2,676,510 $ 3,625,204 $ 3,353,403 $ (8,134,458 ) $ 1,520,659 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current portion of long-term debt $ 10,000 $ — $ — $ — $ 10,000 Accounts payable and accrued liabilities 77,603 71,645 309,344 (304,113 ) 154,479 Accrued income taxes (4,061 ) 10,109 8,138 — 14,186 Total current liabilities 83,542 81,754 317,482 (304,113 ) 178,665 Long-term debt 605,000 — — — 605,000 Other long-term liabilities 2,867 7,135 8,663 — 18,665 Long-term deferred tax liability — 56,105 (3,990 ) — 52,115 Intercompany payables 1,322,172 1,311,404 1,204,769 (3,838,345 ) — Total liabilities 2,013,581 1,456,398 1,526,924 (4,142,458 ) 854,445 Total equity 662,929 2,168,806 1,826,479 (3,992,000 ) 666,214 Total liabilities and stockholders’ equity $ 2,676,510 $ 3,625,204 $ 3,353,403 $ (8,134,458 ) $ 1,520,659 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 46,528 $ 8,000 $ 50,123 $ — $ 104,651 Accounts and notes receivable, net — 66,413 158,583 — 224,996 Rig materials and supplies — (4,279 ) 42,795 — 38,516 Deferred costs — — 2,961 — 2,961 Deferred income taxes — 4,172 1,276 — 5,448 Other tax assets — 463 7,369 — 7,832 Other current assets — 6,717 10,484 — 17,201 Total current assets 46,528 81,486 273,591 — 401,605 Property, plant and equipment, net (19 ) 560,618 281,324 — 841,923 Goodwill — 6,708 — — 6,708 Intangible assets, net — 12,317 2,424 — 14,741 Investment in subsidiaries and intercompany advances 3,074,849 2,700,571 3,147,601 (8,923,021 ) — Other noncurrent assets (276,366 ) 374,987 246,033 (167,448 ) 177,206 Total assets $ 2,844,992 $ 3,736,687 $ 3,950,973 $ (9,090,469 ) $ 1,442,183 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current portion of long-term debt $ — $ — $ — $ — $ — Accounts payable and accrued liabilities 67,123 77,565 303,001 (304,113 ) 143,576 Accrued income taxes 1,013 9,434 (3,853 ) — 6,594 Total current liabilities 68,136 86,999 299,148 (304,113 ) 150,170 Long-term debt 585,000 — — — 585,000 Other long-term liabilities 2,867 8,004 9,270 — 20,141 Long-term deferred tax liability — 75,545 (348 ) — 75,197 Intercompany payables 1,581,364 1,395,937 1,711,311 (4,688,612 ) — Total liabilities 2,237,367 1,566,485 2,019,381 (4,992,725 ) 830,508 Total equity 607,625 2,170,202 1,931,592 (4,097,744 ) 611,675 Total liabilities and stockholders’ equity $ 2,844,992 $ 3,736,687 $ 3,950,973 $ (9,090,469 ) $ 1,442,183
Consolidating Condensed Statement of Operations	Three months ended September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 59,252 $ 138,564 $ (24,398 ) $ 173,418 Operating expenses — 32,457 120,904 (24,398 ) 128,963 Depreciation and amortization — 24,002 15,582 — 39,584 Total operating gross margin — 2,793 2,078 — 4,871 General and administration expense (1) (148 ) (8,857 ) 110 — (8,895 ) Provision for reduction in carrying value of certain assets — (920 ) 14 — (906 ) Gain (Loss) on disposition of assets, net — 407 (24 ) — 383 Total operating income (loss) (148 ) (6,577 ) 2,178 — (4,547 ) Other income and (expense): Interest expense (11,020 ) (268 ) (2,618 ) 2,613 (11,293 ) Interest income 173 (18 ) 2,465 (2,613 ) 7 Other — (102 ) (617 ) — (719 ) Equity in net earnings of subsidiaries (29,913 ) — — 29,913 — Total other income (expense) (40,760 ) (388 ) (770 ) 29,913 (12,005 ) Income (loss) before income taxes (40,908 ) (6,965 ) 1,408 29,913 (16,552 ) Total income tax expense (benefit) 7,712 (2,846 ) 27,064 — 31,930 Net income (loss) (48,620 ) (4,119 ) (25,656 ) 29,913 (48,482 ) Less: Net income attributable to noncontrolling interest — — 138 — 138 Net income (loss) attributable to controlling interest $ (48,620 ) $ (4,119 ) $ (25,794 ) $ 29,913 $ (48,620 ) (1) General and administration expenses for field operations are included in operating expenses.
Consolidating Condensed Statements of Comprehensive Income (Loss)	PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Three Months Ended September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ (48,620 ) $ (4,119 ) $ (25,656 ) $ 29,913 $ (48,482 ) Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (1,285 ) — (1,285 ) Currency translation difference on foreign currency net investments — — 588 — 588 Total other comprehensive income (loss), net of tax: — — (697 ) — (697 ) Comprehensive income (loss) (48,620 ) (4,119 ) (26,353 ) 29,913 (49,179 ) Comprehensive (loss) attributable to noncontrolling interest — — (82 ) — (82 ) Comprehensive income (loss) attributable to controlling interest $ (48,620 ) $ (4,119 ) $ (26,435 ) $ 29,913 $ (49,261 ) PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Three Months Ended September 30, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ 12,566 $ 19,980 $ (227 ) $ (19,442 ) $ 12,877 Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (1,780 ) — (1,780 ) Currency translation difference on foreign currency net investments — — 615 — 615 Total other comprehensive income (loss), net of tax: — — (1,165 ) — (1,165 ) Comprehensive income (loss) 12,566 19,980 (1,392 ) (19,442 ) 11,712 Comprehensive (loss) attributable to noncontrolling interest — — (289 ) — (289 ) Comprehensive income (loss) attributable to controlling interest $ 12,566 $ 19,980 $ (1,681 ) $ (19,442 ) $ 11,423 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Nine Months Ended September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ (59,427 ) $ (8,984 ) $ (19,543 ) $ 29,316 $ (58,638 ) Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (2,308 ) — (2,308 ) Currency translation difference on foreign currency net investments — — 1,462 — 1,462 Total other comprehensive income (loss), net of tax: — — (846 ) — (846 ) Comprehensive income (loss) (59,427 ) (8,984 ) (20,389 ) 29,316 (59,484 ) Comprehensive (loss) attributable to noncontrolling interest — — (571 ) — (571 ) Comprehensive income (loss) attributable to controlling interest $ (59,427 ) $ (8,984 ) $ (20,960 ) $ 29,316 $ (60,055 ) PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Nine Months Ended September 30, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ 15,698 $ 54,169 $ (2,954 ) $ (50,591 ) $ 16,322 Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (2,248 ) — (2,248 ) Currency translation difference on foreign currency net investments — — 1,126 — 1,126 Total other comprehensive income (loss), net of tax: — — (1,122 ) — (1,122 ) Comprehensive income (loss) 15,698 54,169 (4,076 ) (50,591 ) 15,200 Comprehensive (loss) attributable to noncontrolling interest — — (523 ) — (523 ) Comprehensive income (loss) attributable to controlling interest $ 15,698 $ 54,169 $ (4,599 ) $ (50,591 ) $ 14,677
Consolidated Condensed Statements of Cash Flows	ARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Nine Months Ended September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (59,427 ) $ (8,984 ) $ (19,543 ) $ 29,316 $ (58,638 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 71,270 47,204 — 118,474 Accretion of contingent consideration — — 547 — 547 Provision for reduction in carrying value of certain assets — 920 2,302 — 3,222 Gain on disposition of assets — (452 ) (2,234 ) — (2,686 ) Deferred income tax expense (24,184 ) 10,032 24,411 — 10,259 Expenses not requiring cash 6,498 2,677 (1,146 ) — 8,029 Equity in net earnings of subsidiaries 29,316 — — (29,316 ) — Change in assets and liabilities: Accounts and notes receivable (33 ) 36,694 14,593 — 51,254 Other assets (121,465 ) 110,017 12,934 — 1,486 Accounts payable and accrued liabilities (10,480 ) (168 ) (5,142 ) — (15,790 ) Accrued income taxes 6,481 (2,081 ) (11,705 ) — (7,305 ) Net cash provided by (used in) operating activities (173,294 ) 219,925 62,221 — 108,852 Cash flows from investing activities: Capital expenditures — (50,396 ) (22,073 ) — (72,469 ) Proceeds from the sale of assets — 489 242 — 731 Proceeds from insurance settlements — — 2,500 — 2,500 Acquisition, net of cash acquired — (10,431 ) — — (10,431 ) Net cash (used in) investing activities — (60,338 ) (19,331 ) — (79,669 ) Cash flows from financing activities: Repayments of long-term debt (30,000 ) — — — (30,000 ) Payment of debt issuance costs (1,996 ) — — — (1,996 ) Excess tax benefit from stock-based compensation (992 ) — — — (992 ) Intercompany advances, net 216,082 (165,133 ) (50,949 ) — — Net cash provided by (used in) financing activities 183,094 (165,133 ) (50,949 ) — (32,988 ) Net change in cash and cash equivalents 9,800 (5,546 ) (8,059 ) — (3,805 ) Cash and cash equivalents at beginning of year 36,728 13,546 58,182 — 108,456 Cash and cash equivalents at end of year $ 46,528 $ 8,000 $ 50,123 $ — $ 104,651 Nine Months Ended September 30, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (59,427 ) $ (8,984 ) $ (19,543 ) $ 29,316 $ (58,638 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 71,270 47,204 — 118,474 Accretion of contingent consideration — — 547 — 547 Provision for reduction in carrying value of certain assets — 920 2,302 — 3,222 Gain on disposition of assets — (452 ) (2,234 ) — (2,686 ) Deferred income tax expense (24,184 ) 10,032 24,411 — 10,259 Expenses not requiring cash 6,498 2,677 (1,146 ) — 8,029 Equity in net earnings of subsidiaries 29,316 — — (29,316 ) — Change in assets and liabilities: Accounts and notes receivable (33 ) 36,694 14,593 — 51,254 Other assets (121,465 ) 110,017 12,934 — 1,486 Accounts payable and accrued liabilities (10,480 ) (168 ) (5,142 ) — (15,790 ) Accrued income taxes 6,481 (2,081 ) (11,705 ) — (7,305 ) Net cash provided by (used in) operating activities (173,294 ) 219,925 62,221 — 108,852 Cash flows from investing activities: Capital expenditures — (50,396 ) (22,073 ) — (72,469 ) Proceeds from the sale of assets — 489 242 — 731 Proceeds from insurance settlements — — 2,500 — 2,500 Acquisition, net of cash acquired — (10,431 ) — — (10,431 ) Net cash (used in) investing activities — (60,338 ) (19,331 ) — (79,669 ) Cash flows from financing activities: Repayments of long-term debt (30,000 ) — — — (30,000 ) Payment of debt issuance costs (1,996 ) — — — (1,996 ) Excess tax benefit from stock-based compensation (992 ) — — — (992 ) Intercompany advances, net 216,082 (165,133 ) (50,949 ) — — Net cash provided by (used in) financing activities 183,094 (165,133 ) (50,949 ) — (32,988 ) Net change in cash and cash equivalents 9,800 (5,546 ) (8,059 ) — (3,805 ) Cash and cash equivalents at beginning of year 36,728 13,546 58,182 — 108,456 Cash and cash equivalents at end of year $ 46,528 $ 8,000 $ 50,123 $ — $ 104,651 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Nine Months Ended September 30, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ 15,698 $ 54,169 $ (2,954 ) $ (50,591 ) $ 16,322 Adjustments to reconcile net income (loss) Depreciation and amortization — 63,343 43,323 — 106,666 Loss on extinguishment of debt 30,152 — — — 30,152 Gain on disposition of assets 79 (522 ) 10 — (433 ) Deferred income tax expense (15,774 ) 12,525 3,322 — 73 Expenses not requiring cash 9,940 (1,538 ) 1,739 — 10,141 Equity in net earnings of subsidiaries (50,591 ) — — 50,591 — Change in assets and liabilities: Accounts and notes receivable — (1,715 ) (3,473 ) — (5,188 ) Other assets 43,412 (58,441 ) 22,583 — 7,554 Accounts payable and accrued liabilities (8,213 ) (9,395 ) 7,069 — (10,539 ) Accrued income taxes (13,232 ) 11,764 (8,929 ) — (10,397 ) Net cash provided by (used in) operating activities 11,471 70,190 62,690 — 144,351 Cash flows from investing activities: Capital expenditures — (107,137 ) (43,972 ) — (151,109 ) Proceeds from the sale of assets — 1,088 1,206 — 2,294 Net cash (used in) investing activities — (106,049 ) (42,766 ) — (148,815 ) Cash flows from financing activities: Proceeds from debt issuance 400,000 — — — 400,000 Repayments of long-term debt (432,500 ) — — — (432,500 ) Payment of debt issuance costs (7,630 ) — — — (7,630 ) Payment of debt extinguishment costs (26,214 ) — — — (26,214 ) Excess tax benefit from stock-based compensation 430 — — — 430 Intercompany advances, net (10,677 ) 40,064 (29,387 ) — — Net cash provided by (used in) financing activities (76,591 ) 40,064 (29,387 ) — (65,914 ) Net change in cash and cash equivalents (65,120 ) 4,205 (9,463 ) — (70,378 ) Cash and cash equivalents at beginning of year 88,697 8,310 51,682 — 148,689 Cash and cash equivalents at end of year $ 23,577 $ 12,515 $ 42,219 $ — $ 78,311

General - Additional Informatio

General - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Revenue, Major Customer [Line Items]
Payments to Acquire Property, Plant, and Equipment			$ 72,469	$ 151,109
Percentage accounted for under the equity method	50.00%		50.00%
Reimbursable Costs	$ 20,800	$ 19,300	$ 68,400	$ 57,500
Deposits in domestic bank	62,100		62,100		$ 59,300
Deposits, Foreign	43,100		$ 43,100		$ 54,400
Proceeds from Divestiture of Interest in Joint Venture	$ 900
Exxon Neftegas Limited [Member]
Revenue, Major Customer [Line Items]
Percentage of revenue from major customer			27.00%	18.90%

Acquisitions ITS - Narrative (D

Acquisitions ITS - Narrative (Details) - USD ($) $ in Thousands	Apr. 22, 2013	Sep. 30, 2015	Apr. 17, 2015
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs		$ 400
ITS [Member]
Business Acquisition [Line Items]
Cash paid to, or on behalf of, ITS and its equity holders	$ 101,000
Cash deposited into escrow	24,000
Business Acquisition, Escrow Funds Released		20,700
Business Acquisition, Escrow Funds Received		3,300
April 17, 2015 Acquisition [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents			$ 17
Cash paid to, or on behalf of, ITS and its equity holders	$ 10,448
Business Combination, Contingent Consideration, Liability, Current		8,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred		17,200
Business Combination, Acquired Receivables, Fair Value			1,112
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Rig and Materials Supplies			883
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets			2,012
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment			477
Goodwill (Note 3)			6,755
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles		$ 13,470
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets			22,667
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable			863
Business Combination, Contingent Consideration, Liability, Current			863
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent			4,601
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			5,464
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			$ 17,203

Goodwill and Intangible Asset28

Goodwill and Intangible Assets Goodwill and Intangible Assets - USD ($) $ in Thousands	Sep. 30, 2015	Apr. 17, 2015	Dec. 31, 2014	Apr. 22, 2013
Finite-Lived Intangible Assets [Line Items]
Goodwill (Note 3)	$ 6,708		$ 0
April 17, 2015 Acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Asset, Residual Value		$ 13,500
Goodwill (Note 3)		$ 6,708
ITS [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Asset, Residual Value				$ 8,500

Goodwill and Intangible Asset29

Goodwill and Intangible Assets Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Goodwill [Line Items]
Goodwill (Note 3)	$ 6,708	$ 0

Goodwill and Intangible Asset30

Goodwill and Intangible Assets Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 1,200	$ 600	$ 3,100	$ 1,900
Intangible Assets, Gross (Excluding Goodwill)	21,970		21,970
Finite-Lived Intangible Assets, Accumulated Amortization	(7,229)		(7,229)
Finite-Lived Intangible Assets, Net	14,741		$ 14,741
Developed Technology Rights [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			6 years
Intangible Assets, Gross (Excluding Goodwill)	11,630		$ 11,630
Finite-Lived Intangible Assets, Accumulated Amortization	(969)		(969)
Finite-Lived Intangible Assets, Net	10,661		$ 10,661
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			3 years
Intangible Assets, Gross (Excluding Goodwill)	5,400		$ 5,400
Finite-Lived Intangible Assets, Accumulated Amortization	(4,394)		(4,394)
Finite-Lived Intangible Assets, Net	1,006		$ 1,006
Trademarks and Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			5 years
Intangible Assets, Gross (Excluding Goodwill)	4,940		$ 4,940
Finite-Lived Intangible Assets, Accumulated Amortization	(1,866)		(1,866)
Finite-Lived Intangible Assets, Net	$ 3,074		$ 3,074

Goodwill and Intangible Asset31

Goodwill and Intangible Assets Expected Future Intangibles Amortization Expense (Details) $ in Thousands	Sep. 30, 2015USD ($)
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 1,204
Finite-Lived Intangible Assets, Amortization Expense, Year Three	2,860
Finite-Lived Intangible Assets, Amortization Expense, Year Four	2,306
Finite-Lived Intangible Assets, Amortization Expense, Year Five	2,306
Finite-Lived Intangible Assets, Amortization Expense, Year Two	3,549
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	$ 2,516

Earnings Per Share (EPS) - Summ

Earnings Per Share (EPS) - Summary of Earnings Per Share (EPS) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Parent	$ (48,620)	$ 12,566	$ (59,427)	$ 15,698
Basic	122,933,518	121,523,674	122,430,957	120,994,728
Basic earnings (loss) per share	$ (0.40)	$ 0.10	$ (0.49)	$ 0.13
Diluted	122,933,518	123,177,753	122,430,957	122,972,014
Diluted earnings (loss) per share	$ (0.40)	$ 0.10	$ (0.49)	$ 0.13
Stock Options And Restricted Stock	0	1,654,079	0	1,977,286
Stock Options and Restricted Stock, Price per Share	$ 0	$ 0	$ 0	$ 0

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Income (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2015USD ($)
Accumulated Other Comprehensive Income Reclassifications [Roll Forward]
Current period other comprehensive (loss)	$ (629)
Ending balance	$ (1,127)

Reportable Segments - Additiona

Reportable Segments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Segment Information [Line Items]
Number of Reportable Segments	2
Exxon Neftegas Limited [Member]
Segment Information [Line Items]
Percentage of revenue from major customer	27.00%	18.90%
Exxon Neftegas Limited [Member] | International & Alaska Drilling [Member]
Segment Information [Line Items]
Percentage of revenue from major customer	44.70%	39.90%

Reportable Segments - Results o

Reportable Segments - Results of Operations by Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Revenues	$ 173,418	$ 242,012	$ 563,435	$ 725,471
Operating gross margin:
Total operating gross margin	4,871	45,066	33,159	117,414
General and administration expense	(8,895)	(9,370)	(29,243)	(25,341)
Other Asset Impairment Charges	(906)	0	(3,222)	0
Gain (loss) on disposition of assets, net	383	(457)	2,686	433
Total operating income (loss)	(4,547)	35,239	3,380	92,506
Interest expense	(11,293)	(10,848)	(33,767)	(33,486)
Interest income	7	36	209	156
Loss on extinguishment of debt	0	0	0	(30,152)
Other	(719)	(536)	(3,628)	1,391
Income (loss) before income taxes	(16,552)	23,891	(33,806)	30,415
Rental Tools [Member]
Revenues:
Revenues	56,796	87,711	196,978	255,387
Operating gross margin:
Total operating gross margin	(944)	19,652	16,404	50,761
U.S. (Lower 48) Drilling [Member]
Revenues:
Revenues	5,961	44,409	26,906	126,281
Operating gross margin:
Total operating gross margin	(7,397)	16,283	(20,673)	42,829
International & Alaska Drilling [Member]
Revenues:
Revenues	110,661	109,892	339,551	343,803
Operating gross margin:
Total operating gross margin	$ 13,212	$ 9,131	$ 37,428	$ 23,824
Exxon Neftegas Limited [Member]
Segment Reporting Information [Line Items]
Percentage of revenue from major customer			27.00%	18.90%
Exxon Neftegas Limited [Member] | International & Alaska Drilling [Member]
Segment Reporting Information [Line Items]
Percentage of revenue from major customer			44.70%	39.90%

Accounting for Uncertainty in36

Accounting for Uncertainty in Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Liability for unrecognized tax	$ 8.2
Unrecognized tax favorable impact on effective tax rate	3.6
Accrued interest and penalties applied to uncertain tax positions	$ 3.7	$ 3.3

Income Tax Benefit_Expense - Ad

Income Tax Benefit/Expense - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income tax expense	$ 31,930	$ 11,014	$ 24,832	$ 14,093

Long-Term Debt - Summary of Com

Long-Term Debt - Summary of Company's Current Debt Portfolio (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total debt	$ 585,000	$ 615,000
Current portion of long-term debt	0	10,000
Long-term debt	585,000	605,000
6.75% Senior Notes, due July 2022 [Member]
Debt Instrument [Line Items]
Total debt	360,000	360,000
7.50% Senior Notes, due August 2020 [Member]
Debt Instrument [Line Items]
Total debt	225,000	225,000
Term Note Due December 2017 [Member]
Debt Instrument [Line Items]
Total debt	$ 0	$ 30,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	Apr. 03, 2014	Jan. 22, 2014	Jan. 07, 2014	Jul. 30, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jan. 26, 2015	Dec. 31, 2014	Apr. 02, 2014	Apr. 18, 2013	Dec. 14, 2012	Mar. 22, 2010
Debt Instrument [Line Items]
Debt issuance costs							$ 2,800,000
Payments of Debt Issuance Costs							1,996,000	$ 7,630,000
Payments of debt extinguishment costs							0	26,214,000
Repayments of long term debt								432,500,000
Unsolicited Tender Offer Costs		$ 25,800,000
Interest Expense					$ 11,293,000	$ 10,848,000	33,767,000	33,486,000
Loss on extinguishment of debt					0	$ 0	0	$ (30,152,000)
Long-term Debt					585,000,000		585,000,000			$ 615,000,000
2015 Secured Credit Agreement [Member]
Debt Instrument [Line Items]
Deferred acquisition costs					2,600,000		2,600,000
Debt issuance costs							$ 2,000,000
Senior secured credit facility									$ 200,000,000
Variation in applicable rate for LIBOR Rate Loan							2.50%
Variation in applicable rate for LIBOR Rate Loan							4.00%
Variation in applicable rate for Base Rate Loan							1.50%
Variation in applicable rate for Base Rate Loan							3.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Variation in applicable rate for LIBOR Rate Loan							2.50%
Variation in applicable rate for LIBOR Rate Loan							3.00%
Variation in applicable rate for Base Rate Loan							1.50%
Variation in applicable rate for Base Rate Loan							2.00%
Revolving loan outstanding					0		$ 0
Letters of credit outstanding					13,800,000		13,800,000			11,000,000
2012 Secured Credit Agreement [Member]
Debt Instrument [Line Items]
Debt issuance costs							$ 800,000
Senior secured credit facility													$ 80,000,000
Maturity of credit facility							Dec. 14, 2017
6.75% Senior Notes, due July 2022 [Member]
Debt Instrument [Line Items]
Aggregate principal amount		$ 360,000,000
Percentage of notes guaranteed by restricted subsidiaries		6.75%
Redemption amount percentage of principal				35.00%
Debt instrument, Redemption Price Percent				106.75%
Redemption price after year three		103.375%
Redemption price afer year five		101.00%
Debt issuance costs							$ 7,600,000
Debt issuance cost, Net of amortization							6,400,000
Long-term Debt					$ 360,000,000		$ 360,000,000			360,000,000
9.125% Senior Notes, due April 2018 [Member]
Debt Instrument [Line Items]
Aggregate principal amount			$ 1,000											$ 300,000,000
Percentage of notes guaranteed by restricted subsidiaries					9.125%		9.125%
Tender Offer Price for Each 1000 Principal Amount							$ 1,061.98
Redemption price			9,600,000
Tender Offer Price per Note, Consent Payment			$ 30
Payments of Debt Issuance Costs		$ 453,700,000
Repayments of long term debt		416,200,000
Debt Instrument Accrued Interest		11,700,000
Senior Notes											$ 8,800,000
Redemption Premium	$ 400,000
Write off of Deferred Debt Issuance Cost					$ 7,700,000
Amortization of Debt Discount (Premium)					(3,800,000)
Interest Expense	$ 400,000
Loss on extinguishment of debt							$ 30,200,000
Goldman Term Loan [Member]
Debt Instrument [Line Items]
Increase in the amount of term loan or revolving credit facility				$ 45,000,000
Line Of Credit Facility Quarterly Decrease in Borrowing Capacity													3,000,000
Revolving loan outstanding		$ 40,000,000
Long-term Debt										30,000,000			$ 50,000,000
Line of Credit, Current									$ 30,000,000
Principal payments					2,500,000
Base rate plus							2.00%
LIBOR plus							3.00%
7.50% Senior Notes, due August 2020 [Member]
Debt Instrument [Line Items]
Aggregate principal amount				$ 225,000,000
Percentage of notes guaranteed by restricted subsidiaries				7.50%
Deferred acquisition costs				$ 5,600,000	4,100,000		$ 4,100,000
Redemption amount percentage of principal				35.00%
Debt instrument, Redemption Price Percent				107.50%
Redemption price after year three				103.75%
Redemption price afer year five				101.00%
Long-term Debt					225,000,000		225,000,000			225,000,000
Term Note Due December 2017 [Member]
Debt Instrument [Line Items]
Long-term Debt					$ 0		$ 0			$ 30,000,000
Secured Debt [Member] | Goldman Term Loan [Member]
Debt Instrument [Line Items]
Aggregate principal amount												$ 125,000,000

Fair Value of Financial Instr40

Fair Value of Financial Instruments - Fair Values and Related Carrying Values of Debt Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Carrying Amount [Member]
Long-term Debt
Long term debt Fair value	$ 585,000	$ 585,000
Carrying Amount [Member] | 6.75% Senior Notes, due July 2022 [Member]
Long-term Debt
Long term debt Fair value	360,000	360,000
Carrying Amount [Member] | 7.50% Senior Notes, due August 2020 [Member]
Long-term Debt
Long term debt Fair value	225,000	225,000
Fair Value [Member]
Long-term Debt
Long term debt Fair value	472,613	450,000
Fair Value [Member] | 6.75% Senior Notes, due July 2022 [Member]
Long-term Debt
Long term debt Fair value	285,300	270,000
Fair Value [Member] | 7.50% Senior Notes, due August 2020 [Member]
Long-term Debt
Long term debt Fair value	$ 187,313	$ 180,000

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Commitment And Contingencies [Line Items]
Fine paid by for retention and use of individual agent in Nigeria with respect to customs-related issues	$ 11,760

Parent, Guarantor, Non-Guaran42

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015	Jul. 30, 2013
Supplemental Guarantor Financial Information [Line Items]
Percentage of guaranteed subsidiaries by the parent companies	100.00%
9.125% Senior Notes, due April 2018 [Member]
Supplemental Guarantor Financial Information [Line Items]
Percentage of notes guaranteed by restricted subsidiaries	9.125%
7.50% Senior Notes, due August 2020 [Member]
Supplemental Guarantor Financial Information [Line Items]
Percentage of notes guaranteed by restricted subsidiaries		7.50%

Parent, Guarantor, Non-Guaran43

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Consolidating Condensed Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 104,651	$ 108,456	$ 78,311	$ 148,689
Accounts and notes receivable, net	224,996	270,952
Rig materials and supplies	38,516	47,943
Deferred costs	2,961	5,673
Deferred income taxes	5,448	7,476
Other tax assets	7,832	10,723
Other current assets	17,201	18,556
Total current assets	401,605	469,779
Intangible assets, net (Note 3)	14,741	4,286
Goodwill (Note 3)	6,708	0
Property, plant and equipment, net	841,923	895,940
Investment in subsidiaries and intercompany advances	0	0
Other Assets, Miscellaneous, Noncurrent	177,206
Deferred Income Taxes and Other Assets, Noncurrent		150,654
Total assets	1,442,183	1,520,659
Current portion of long-term debt	0	10,000
Accounts payable and accrued liabilities	143,576	154,479
Accrued income taxes	6,594	14,186
Liabilities, Current	150,170	178,665
Long-term debt	585,000	605,000
Other long-term liabilities	20,141	18,665
Current liabilities:
Long-term deferred tax liability	75,197	52,115
Total liabilities	830,508	854,445
Total equity	611,675	666,214
Total liabilities and stockholders’ equity	1,442,183	1,520,659
Intercompany Payables	0	0
Common stock	20,517	20,325
Capital in excess of par value	670,700	666,769
Accumulated deficit	(83,592)	(24,165)
Accumulated other comprehensive (loss)	(1,127)	(498)
Stockholders' Equity Attributable to Parent	606,498	662,431
Noncontrolling interest	5,177	3,783
Parent [Member]
Current assets:
Cash and cash equivalents	46,528	36,728	23,577	88,697
Accounts and notes receivable, net	0	(33)
Rig materials and supplies	0	0
Deferred costs	0	0
Deferred income taxes	0	0
Other tax assets	0	19,885
Other current assets	0	0
Total current assets	46,528	56,580
Intangible assets, net (Note 3)	0	0
Goodwill (Note 3)	0
Property, plant and equipment, net	(19)	(19)
Investment in subsidiaries and intercompany advances	3,074,849	3,060,867
Other Assets, Miscellaneous, Noncurrent	(276,366)
Deferred Income Taxes and Other Assets, Noncurrent		(440,918)
Total assets	2,844,992	2,676,510
Current portion of long-term debt	0	10,000
Accounts payable and accrued liabilities	67,123	77,603
Accrued income taxes	1,013	(4,061)
Liabilities, Current	68,136	83,542
Long-term debt	585,000	605,000
Other long-term liabilities	2,867	2,867
Current liabilities:
Long-term deferred tax liability	0	0
Total liabilities	2,237,367	2,013,581
Total equity	607,625	662,929
Total liabilities and stockholders’ equity	2,844,992	2,676,510
Intercompany Payables	1,581,364	1,322,172
Guarantor [Member]
Current assets:
Cash and cash equivalents	8,000	13,546	12,515	8,310
Accounts and notes receivable, net	66,413	96,100
Rig materials and supplies	(4,279)	(1,473)
Deferred costs	0	0
Deferred income taxes	4,172	6,131
Other tax assets	463	(18,273)
Other current assets	6,717	7,998
Total current assets	81,486	104,029
Intangible assets, net (Note 3)	12,317	0
Goodwill (Note 3)	6,708
Property, plant and equipment, net	560,618	589,055
Investment in subsidiaries and intercompany advances	2,700,571	2,441,523
Other Assets, Miscellaneous, Noncurrent	374,987
Deferred Income Taxes and Other Assets, Noncurrent		490,597
Total assets	3,736,687	3,625,204
Current portion of long-term debt	0	0
Accounts payable and accrued liabilities	77,565	71,645
Accrued income taxes	9,434	10,109
Liabilities, Current	86,999	81,754
Long-term debt	0	0
Other long-term liabilities	8,004	7,135
Current liabilities:
Long-term deferred tax liability	75,545	56,105
Total liabilities	1,566,485	1,456,398
Total equity	2,170,202	2,168,806
Total liabilities and stockholders’ equity	3,736,687	3,625,204
Intercompany Payables	1,395,937	1,311,404
Non-Guarantor [Member]
Current assets:
Cash and cash equivalents	50,123	58,182	42,219	51,682
Accounts and notes receivable, net	158,583	174,885
Rig materials and supplies	42,795	49,416
Deferred costs	2,961	5,673
Deferred income taxes	1,276	1,345
Other tax assets	7,369	9,111
Other current assets	10,484	10,558
Total current assets	273,591	309,170
Intangible assets, net (Note 3)	2,424	4,286
Goodwill (Note 3)	0
Property, plant and equipment, net	281,324	306,904
Investment in subsidiaries and intercompany advances	3,147,601	2,464,506
Other Assets, Miscellaneous, Noncurrent	246,033
Deferred Income Taxes and Other Assets, Noncurrent		268,537
Total assets	3,950,973	3,353,403
Current portion of long-term debt	0	0
Accounts payable and accrued liabilities	303,001	309,344
Accrued income taxes	(3,853)	8,138
Liabilities, Current	299,148	317,482
Long-term debt	0	0
Other long-term liabilities	9,270	8,663
Current liabilities:
Long-term deferred tax liability	(348)	(3,990)
Total liabilities	2,019,381	1,526,924
Total equity	1,931,592	1,826,479
Total liabilities and stockholders’ equity	3,950,973	3,353,403
Intercompany Payables	1,711,311	1,204,769
Eliminations [Member]
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts and notes receivable, net	0	0
Rig materials and supplies	0	0
Deferred costs	0	0
Deferred income taxes	0	0
Other tax assets	0	0
Other current assets	0	0
Total current assets	0	0
Intangible assets, net (Note 3)	0	0
Goodwill (Note 3)	0
Property, plant and equipment, net	0	0
Investment in subsidiaries and intercompany advances	(8,923,021)	(7,966,896)
Other Assets, Miscellaneous, Noncurrent	(167,448)
Deferred Income Taxes and Other Assets, Noncurrent		(167,562)
Total assets	(9,090,469)	(8,134,458)
Current portion of long-term debt	0	0
Accounts payable and accrued liabilities	(304,113)	(304,113)
Accrued income taxes	0	0
Liabilities, Current	(304,113)	(304,113)
Long-term debt	0	0
Other long-term liabilities	0	0
Current liabilities:
Long-term deferred tax liability	0	0
Total liabilities	(4,992,725)	(4,142,458)
Total equity	(4,097,744)	(3,992,000)
Total liabilities and stockholders’ equity	(9,090,469)	(8,134,458)
Intercompany Payables	$ (4,688,612)	$ (3,838,345)

Parent, Guarantor, Non-Guaran44

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Consolidating Condensed Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Statements [Line Items]
Total revenues	$ 173,418	$ 242,012	$ 563,435	$ 725,471
Operating expenses	128,963	160,797	411,802	501,391
Depreciation and amortization	39,584	36,149	118,474	106,666
Total operating gross margin	4,871	45,066	33,159	117,414
General and administration expense	(8,895)	(9,370)	(29,243)	(25,341)
Other Asset Impairment Charges	(906)	0	(3,222)	0
Gain (loss) on disposition of assets, net	383	(457)	2,686	433
Total operating income (loss)	(4,547)	35,239	3,380	92,506
Other income and (expense):
Interest expense	(11,293)	(10,848)	(33,767)	(33,486)
Interest income	7	36	209	156
Loss on extinguishment of debt	0	0	0	(30,152)
Other	(719)	(536)	(3,628)	1,391
Equity in net earnings of subsidiaries	0	0	0	0
Total other expense	(12,005)	(11,348)	(37,186)	(62,091)
Income (loss) before income taxes	(16,552)	23,891	(33,806)	30,415
Income tax expense	31,930	11,014	24,832	14,093
Deferred Income Tax Expense (Benefit)			(10,259)	73
Net income (loss)	(48,482)	12,877	(58,638)	16,322
Less: Net income (loss) attributable to noncontrolling interest	138	311	789	624
Net income (loss) attributable to controlling interest	(48,620)	12,566	(59,427)	15,698
Parent [Member]
Condensed Financial Statements [Line Items]
Total revenues	0	0	0	0
Operating expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Total operating gross margin	0	0	0	0
General and administration expense	(148)	110	(1,152)	(195)
Other Asset Impairment Charges	0		0
Gain (loss) on disposition of assets, net	0	0	0	(79)
Total operating income (loss)	(148)	110	(1,152)	(274)
Other income and (expense):
Interest expense	(11,020)	(11,529)	(33,145)	(35,542)
Interest income	173	98	756	632
Loss on extinguishment of debt				(30,152)
Other	0	0	0	0
Equity in net earnings of subsidiaries	(29,913)	19,442	(29,316)	50,591
Total other expense	(40,760)	8,011	(61,705)	(14,471)
Income (loss) before income taxes	(40,908)	8,121	(62,857)	(14,745)
Income tax expense	7,712	(4,445)	(3,430)	(30,443)
Deferred Income Tax Expense (Benefit)			(24,184)	(15,774)
Net income (loss)	(48,620)	12,566	(59,427)	15,698
Less: Net income (loss) attributable to noncontrolling interest	0	0	0	0
Net income (loss) attributable to controlling interest	(48,620)	12,566	(59,427)	15,698
Guarantor [Member]
Condensed Financial Statements [Line Items]
Total revenues	59,252	129,935	201,924	396,536
Operating expenses	32,457	65,369	112,229	222,846
Depreciation and amortization	24,002	22,168	71,270	63,343
Total operating gross margin	2,793	42,398	18,425	110,347
General and administration expense	(8,857)	(8,988)	(31,896)	(23,806)
Other Asset Impairment Charges	(920)		(920)
Gain (loss) on disposition of assets, net	407	91	452	522
Total operating income (loss)	(6,577)	33,501	(13,939)	87,063
Other income and (expense):
Interest expense	(268)	(35)	(608)	(120)
Interest income	(18)	176	(12)	553
Loss on extinguishment of debt				0
Other	(102)	675	(81)	860
Equity in net earnings of subsidiaries	0	0	0	0
Total other expense	(388)	816	(701)	1,293
Income (loss) before income taxes	(6,965)	34,317	(14,640)	88,356
Income tax expense	(2,846)	14,337	(5,656)	34,187
Deferred Income Tax Expense (Benefit)			10,032	12,525
Net income (loss)	(4,119)	19,980	(8,984)	54,169
Less: Net income (loss) attributable to noncontrolling interest	0	0	0	0
Net income (loss) attributable to controlling interest	(4,119)	19,980	(8,984)	54,169
Non-Guarantor [Member]
Condensed Financial Statements [Line Items]
Total revenues	138,564	156,495	452,197	461,460
Operating expenses	120,904	139,846	390,259	411,070
Depreciation and amortization	15,582	13,981	47,204	43,323
Total operating gross margin	2,078	2,668	14,734	7,067
General and administration expense	110	(492)	3,805	(1,340)
Other Asset Impairment Charges	14		(2,302)
Gain (loss) on disposition of assets, net	(24)	(548)	2,234	(10)
Total operating income (loss)	2,178	1,628	18,471	5,717
Other income and (expense):
Interest expense	(2,618)	(1,943)	(5,956)	(6,356)
Interest income	2,465	2,421	5,407	7,503
Loss on extinguishment of debt				0
Other	(617)	(1,211)	(3,547)	531
Equity in net earnings of subsidiaries	0	0	0	0
Total other expense	(770)	(733)	(4,096)	1,678
Income (loss) before income taxes	1,408	895	14,375	7,395
Income tax expense	27,064	1,122	33,918	10,349
Deferred Income Tax Expense (Benefit)			24,411	3,322
Net income (loss)	(25,656)	(227)	(19,543)	(2,954)
Less: Net income (loss) attributable to noncontrolling interest	138	311	789	624
Net income (loss) attributable to controlling interest	(25,794)	(538)	(20,332)	(3,578)
Eliminations [Member]
Condensed Financial Statements [Line Items]
Total revenues	(24,398)	(44,418)	(90,686)	(132,525)
Operating expenses	(24,398)	(44,418)	(90,686)	(132,525)
Depreciation and amortization	0	0	0	0
Total operating gross margin	0	0	0	0
General and administration expense	0	0	0	0
Other Asset Impairment Charges	0		0
Gain (loss) on disposition of assets, net	0	0	0	0
Total operating income (loss)	0	0	0	0
Other income and (expense):
Interest expense	2,613	2,659	5,942	8,532
Interest income	(2,613)	(2,659)	(5,942)	(8,532)
Loss on extinguishment of debt				0
Other	0	0	0	0
Equity in net earnings of subsidiaries	29,913	(19,442)	29,316	(50,591)
Total other expense	29,913	(19,442)	29,316	(50,591)
Income (loss) before income taxes	29,913	(19,442)	29,316	(50,591)
Income tax expense	0	0	0	0
Deferred Income Tax Expense (Benefit)			0	0
Net income (loss)	29,913	(19,442)	29,316	(50,591)
Less: Net income (loss) attributable to noncontrolling interest	0	0	0	0
Net income (loss) attributable to controlling interest	$ 29,913	$ (19,442)	$ 29,316	$ (50,591)

Parent, Guarantor, Non-Guaran45

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Statement of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	$ (48,482)	$ 12,877	$ (58,638)	$ 16,322
Currency translation difference on related borrowings	(1,285)	(1,780)	(2,308)	(2,248)
Currency translation difference on foreign currency net investments	588	615	1,462	1,126
Total other comprehensive income (loss), net of tax:	(697)	(1,165)	(846)	(1,122)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(49,261)	11,423	(60,055)	14,677
Comprehensive (loss) attributable to noncontrolling interest	(82)	(289)	(571)	(523)
Comprehensive income (loss) attributable to controlling interest	(49,179)	11,712	(59,484)	15,200
Parent [Member]
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	(48,620)	12,566	(59,427)	15,698
Currency translation difference on related borrowings	0	0	0	0
Currency translation difference on foreign currency net investments	0	0	0	0
Total other comprehensive income (loss), net of tax:	0	0	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(48,620)	12,566	(59,427)	15,698
Comprehensive (loss) attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to controlling interest	(48,620)	12,566	(59,427)	15,698
Guarantor [Member]
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	(4,119)	19,980	(8,984)	54,169
Currency translation difference on related borrowings	0	0	0	0
Currency translation difference on foreign currency net investments	0	0	0	0
Total other comprehensive income (loss), net of tax:	0	0	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(4,119)	19,980	(8,984)	54,169
Comprehensive (loss) attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to controlling interest	(4,119)	19,980	(8,984)	54,169
Non-Guarantor [Member]
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	(25,656)	(227)	(19,543)	(2,954)
Currency translation difference on related borrowings	(1,285)	(1,780)	(2,308)	(2,248)
Currency translation difference on foreign currency net investments	588	615	1,462	1,126
Total other comprehensive income (loss), net of tax:	(697)	(1,165)	(846)	(1,122)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(26,435)	(1,681)	(20,960)	(4,599)
Comprehensive (loss) attributable to noncontrolling interest	(82)	(289)	(571)	(523)
Comprehensive income (loss) attributable to controlling interest	(26,353)	(1,392)	(20,389)	(4,076)
Eliminations [Member]
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	29,913	(19,442)	29,316	(50,591)
Currency translation difference on related borrowings	0	0	0	0
Currency translation difference on foreign currency net investments	0	0	0	0
Total other comprehensive income (loss), net of tax:	0	0	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	29,913	(19,442)	29,316	(50,591)
Comprehensive (loss) attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to controlling interest	$ 29,913	$ (19,442)	$ 29,316	$ (50,591)

Parent, Guarantor, Non-Guaran46

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Consolidated Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (48,482)	$ 12,877	$ (58,638)	$ 16,322
Adjustments to reconcile net income (loss)
Depreciation and amortization	39,584	36,149	118,474	106,666
Accretion Expense			547	0
Other Asset Impairment Charges	906	0	3,222	0
Loss on extinguishment of debt	0	0	0	(30,152)
(Gain) loss on disposition of assets	(383)	457	(2,686)	(433)
Deferred income tax benefit			10,259	(73)
Expenses not requiring cash			8,029	10,141
Equity in net earnings of subsidiaries	0	0	0	0
Accounts and notes receivable			51,254	(5,188)
Accrued income taxes			(7,305)	(10,397)
Other assets			1,486	7,554
Accounts payable and accrued liabilities			(15,790)	(10,539)
Net cash provided by operating activities			108,852	144,351
Cash flows from investing activities:
Capital expenditures			(72,469)	(151,109)
Proceeds from the sale of assets			731	2,294
Proceeds from insurance settlements			2,500	0
Net cash (used in) investing activities			(79,669)	(148,815)
Cash flows from financing activities:
Proceeds from debt issuance				400,000
Repayments of long-term debt				(432,500)
Paydown on term note			(30,000)	(432,500)
Payment of debt issuance costs			(1,996)	(7,630)
Payments of debt extinguishment costs			0	(26,214)
Excess tax benefit from stock-based compensation			(992)	430
Intercompany advances, net			0	0
Net cash (used in) financing activities			(32,988)	(65,914)
Net (decrease) in cash and cash equivalents			(3,805)	(70,378)
Cash and cash equivalents, beginning of year			108,456	148,689
Cash and cash equivalents, end of period	104,651	78,311	104,651	78,311
Parent [Member]
Cash flows from operating activities:
Net income (loss)	(48,620)	12,566	(59,427)	15,698
Adjustments to reconcile net income (loss)
Depreciation and amortization	0	0	0	0
Accretion Expense			0
Other Asset Impairment Charges	0		0
Loss on extinguishment of debt				(30,152)
(Gain) loss on disposition of assets	0	0	0	79
Deferred income tax benefit			24,184	15,774
Expenses not requiring cash			6,498	9,940
Equity in net earnings of subsidiaries	29,913	(19,442)	29,316	(50,591)
Accounts and notes receivable			(33)	0
Accrued income taxes			6,481	(13,232)
Other assets			(121,465)	43,412
Accounts payable and accrued liabilities			(10,480)	(8,213)
Net cash provided by operating activities			(173,294)	11,471
Cash flows from investing activities:
Capital expenditures			0	0
Proceeds from the sale of assets			0	0
Proceeds from insurance settlements			0
Net cash (used in) investing activities			0	0
Cash flows from financing activities:
Proceeds from debt issuance				400,000
Repayments of long-term debt				(432,500)
Paydown on term note			(30,000)
Payment of debt issuance costs			(1,996)	(7,630)
Payments of debt extinguishment costs				26,214
Excess tax benefit from stock-based compensation			(992)	430
Intercompany advances, net			216,082	(10,677)
Net cash (used in) financing activities			183,094	(76,591)
Net (decrease) in cash and cash equivalents			9,800	(65,120)
Cash and cash equivalents, beginning of year			36,728	88,697
Cash and cash equivalents, end of period	46,528	23,577	46,528	23,577
Guarantor [Member]
Cash flows from operating activities:
Net income (loss)	(4,119)	19,980	(8,984)	54,169
Adjustments to reconcile net income (loss)
Depreciation and amortization	24,002	22,168	71,270	63,343
Accretion Expense			0
Other Asset Impairment Charges	920		920
Loss on extinguishment of debt				0
(Gain) loss on disposition of assets	(407)	(91)	(452)	(522)
Deferred income tax benefit			(10,032)	(12,525)
Expenses not requiring cash			2,677	(1,538)
Equity in net earnings of subsidiaries	0	0	0	0
Accounts and notes receivable			36,694	(1,715)
Accrued income taxes			(2,081)	11,764
Other assets			110,017	(58,441)
Accounts payable and accrued liabilities			(168)	(9,395)
Net cash provided by operating activities			219,925	70,190
Cash flows from investing activities:
Capital expenditures			(50,396)	(107,137)
Proceeds from the sale of assets			489	1,088
Proceeds from insurance settlements			0
Net cash (used in) investing activities			(60,338)	(106,049)
Cash flows from financing activities:
Proceeds from debt issuance				0
Repayments of long-term debt				0
Paydown on term note			0
Payment of debt issuance costs			0	0
Payments of debt extinguishment costs				0
Excess tax benefit from stock-based compensation			0	0
Intercompany advances, net			(165,133)	40,064
Net cash (used in) financing activities			(165,133)	40,064
Net (decrease) in cash and cash equivalents			(5,546)	4,205
Cash and cash equivalents, beginning of year			13,546	8,310
Cash and cash equivalents, end of period	8,000	12,515	8,000	12,515
Non-Guarantor [Member]
Cash flows from operating activities:
Net income (loss)	(25,656)	(227)	(19,543)	(2,954)
Adjustments to reconcile net income (loss)
Depreciation and amortization	15,582	13,981	47,204	43,323
Accretion Expense			547
Other Asset Impairment Charges	(14)		2,302
Loss on extinguishment of debt				0
(Gain) loss on disposition of assets	24	548	(2,234)	10
Deferred income tax benefit			(24,411)	(3,322)
Expenses not requiring cash			(1,146)	1,739
Equity in net earnings of subsidiaries	0	0	0	0
Accounts and notes receivable			14,593	(3,473)
Accrued income taxes			(11,705)	(8,929)
Other assets			12,934	22,583
Accounts payable and accrued liabilities			(5,142)	7,069
Net cash provided by operating activities			62,221	62,690
Cash flows from investing activities:
Capital expenditures			(22,073)	(43,972)
Proceeds from the sale of assets			242	1,206
Proceeds from insurance settlements			2,500
Net cash (used in) investing activities			(19,331)	(42,766)
Cash flows from financing activities:
Proceeds from debt issuance				0
Repayments of long-term debt				0
Paydown on term note			0
Payment of debt issuance costs			0	0
Payments of debt extinguishment costs				0
Excess tax benefit from stock-based compensation			0	0
Intercompany advances, net			(50,949)	(29,387)
Net cash (used in) financing activities			(50,949)	(29,387)
Net (decrease) in cash and cash equivalents			(8,059)	(9,463)
Cash and cash equivalents, beginning of year			58,182	51,682
Cash and cash equivalents, end of period	50,123	42,219	50,123	42,219
Eliminations [Member]
Cash flows from operating activities:
Net income (loss)	29,913	(19,442)	29,316	(50,591)
Adjustments to reconcile net income (loss)
Depreciation and amortization	0	0	0	0
Accretion Expense			0
Other Asset Impairment Charges	0		0
Loss on extinguishment of debt				0
(Gain) loss on disposition of assets	0	0	0	0
Deferred income tax benefit			0	0
Expenses not requiring cash			0	0
Equity in net earnings of subsidiaries	(29,913)	19,442	(29,316)	50,591
Accounts and notes receivable			0	0
Accrued income taxes			0	0
Other assets			0	0
Accounts payable and accrued liabilities			0	0
Net cash provided by operating activities			0	0
Cash flows from investing activities:
Capital expenditures			0	0
Proceeds from the sale of assets			0	0
Proceeds from insurance settlements			0
Net cash (used in) investing activities			0	0
Cash flows from financing activities:
Proceeds from debt issuance				0
Repayments of long-term debt				0
Paydown on term note			0
Payment of debt issuance costs			0	0
Payments of debt extinguishment costs				0
Excess tax benefit from stock-based compensation			0	0
Intercompany advances, net			0	0
Net cash (used in) financing activities			0	0
Net (decrease) in cash and cash equivalents			0	0
Cash and cash equivalents, beginning of year			0	0
Cash and cash equivalents, end of period	$ 0	$ 0	$ 0	$ 0