Parker Drilling (PKDC) 10-Q 5 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 02, 2016
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
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	Accelerated Filer
Entity Common Stock, Shares Outstanding		123,982,716

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 108,427	$ 134,294
Accounts and Notes Receivable, net of allowance for bad debts of $8,250 at March 31, 2016 and $8,694 at December 31, 2015.	175,382	175,105
Rig materials and supplies	36,508	34,937
Other current assets	24,438	22,405
Total current assets	344,755	366,741
Property, plant and equipment, net of accumulated depreciation of $1,329,305 at March 31, 2016 and $1,302,380 at December 31, 2015.	776,912	805,841
Goodwill (Note 3)	6,708	6,708
Intangible assets, net (Note 3)	12,220	13,377
Deferred income taxes	78,992	139,282
Other noncurrent assets	35,062	34,753
Total assets	1,254,649	1,366,702
Current liabilities:
Current portion of long-term debt		0
Accounts payable and accrued liabilities	114,993	129,703
Accrued income taxes	5,980	6,418
Total current liabilities	120,973	136,121
Long-term debt, net of unamortized debt issuance costs of $9,829 at March 31, 2016 and $10,202 at December 31, 2015.	575,171	574,798
Other long-term liabilities	13,755	18,617
Long-term deferred tax liability	71,898	68,654
Stockholders’ equity:
Common stock	20,604	20,518
Capital in excess of par value	670,245	669,120
Accumulated deficit	(215,073)	(119,238)
Accumulated other comprehensive (loss)	(2,924)	(1,888)
Total stockholders’ equity	472,852	568,512
Total equity	472,852	568,512
Total liabilities and stockholders’ equity	$ 1,254,649	$ 1,366,702

CONSOLIDATED CONDENSED BALANCE3

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for bad debts	$ 8,250	$ 8,694
Accumulated depreciation and amortization on property, plant and equipment	$ 1,329,305	$ 1,302,380

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenues	$ 130,503	$ 204,076
Expenses:
Operating expenses	108,117	139,270
Depreciation and amortization	35,814	40,539
Total expenses	143,931	179,809
Total operating gross margin	(13,428)	24,267
General and administration expense	(9,781)	(10,837)
Gain (loss) on disposition of assets, net	(60)	2,441
Total operating income (loss)	(23,269)	15,871
Other income and (expense):
Interest expense	(11,562)	(11,078)
Interest income	7	183
Other	2,485	(1,380)
Total other expense	(9,070)	(12,275)
Income (loss) before income taxes	(32,339)	3,596
Income tax expense (benefit)	63,496	(182)
Net income (loss)	(95,835)	3,778
Less: Net income attributable to noncontrolling interest	0	556
Net income (loss) attributable to controlling interest	$ (95,835)	$ 3,222
Basic earnings (loss) per share	$ (0.78)	$ 0.03
Diluted earnings (loss) per share	$ (0.78)	$ 0.03
Number of common shares used in computing earnings per share:
Basic	123,090,238	121,887,072
Diluted	123,090,238	123,708,623

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Comprehensive income:
Net income (loss)	$ (95,835)	$ 3,778
Other comprehensive income (loss), net of tax:
Currency translation difference on related borrowings	502	(1,670)
Currency translation difference on foreign currency net investments	(1,538)	(849)
Total other comprehensive income (loss), net of tax:	(1,036)	(2,519)
Comprehensive income (loss)	(96,871)	865
Comprehensive (loss) attributable to noncontrolling interest	0	(394)
Comprehensive income (loss) attributable to controlling interest	$ (96,871)	$ 1,259

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income (loss)	$ (95,835)	$ 3,778
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	35,814	40,539
Accretion Expense	419	0
(Gain) loss on disposition of assets	60	(2,441)
Deferred income tax expense (benefit)	63,411	6,304
Expenses not requiring cash	(426)	1,737
Accounts and notes receivable	(381)	(6,650)
Other assets	(304)	(20,087)
Accounts payable and accrued liabilities	(14,437)	54,045
Accrued income taxes	(3,600)	2,614
Net cash provided by (used in) operating activities	(15,279)	67,231
Cash flows from investing activities:
Capital expenditures	(7,889)	(33,455)
Proceeds from the sale of assets	54	246
Proceeds from insurance settlements	0	2,500
Net cash (used in) investing activities	(7,835)	(30,709)
Cash flows from financing activities:
Repayments of long-term debt	0	(30,000)
Payments of debt issuance costs	0	(1,359)
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	(2,000)	0
Excess tax (expense) from stock based compensation	(753)	(420)
Net cash (used in) financing activities	(2,753)	(31,779)
Net increase (decrease) in cash and cash equivalents	(25,867)	4,743
Cash and cash equivalents, beginning of year	134,294	108,456
Cash and cash equivalents, end of period	108,427	113,199
Supplemental cash flow information:
Interest paid	20,588	20,805
Income taxes paid	$ 4,734	$ 4,601

General

General	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and December 31, 2015 , respectively, (2) Parker Drilling’s results of operations for the three month periods ended March 31, 2016 and 2015 , respectively, (3) Parker Drilling’s consolidated condensed statement of comprehensive income for the three month periods ended March 31, 2016 and 2015 , respectively, and (4) Parker Drilling’s cash flows for the three month periods ended March 31, 2016 and 2015 , respectively. Results for the three month period ended March 31, 2016 are not necessarily indicative of the results that will be realized for the year ending December 31, 2016 . The financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2015 . 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 drill oil and gas wells for customers in both the U.S. and international markets. We provide this service with both Company-owned rigs and customer-owned rigs. We refer to the provision of drilling services with customer-owned rigs as our operations and maintenance (O&M) service in which operators own their own drilling rigs but choose Parker Drilling to operate and maintain the rigs for them. The nature and scope of activities involved in drilling an oil and gas well are similar whether the well is drilled with a Company-owned rig (as part of a traditional drilling contract) or a customer-owned rig (as part of an O&M contract). In addition, we provide project related 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 provides drilling services with our Gulf of Mexico (GOM) barge drilling fleet and through U.S. (Lower 48) based O&M services. Our GOM barge drilling fleet 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 provides drilling services, with Company-owned rigs as well as through O&M contracts, and project related services. We strive to deploy our fleet of Company-owned rigs in markets where we expect to have opportunities to keep the rigs consistently utilized and build a sufficient presence to achieve efficient operating scale. In our Rental Tools Services business, we provide premium rental equipment and services to exploration and production (E&P) companies, drilling contractors and service companies on land and offshore in the United States (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. Generally, rental tools are used for only a portion of a well drilling program and are requested by the customer when they are needed, requiring us to keep a broad inventory of rental tools in stock. Rental tools are usually rented on a daily or monthly basis. Consolidation — The consolidated financial statements include the accounts of the Company and subsidiaries over which we exercise control or in which we 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. Noncontrolling Interest — We apply accounting standards related to noncontrolling interests for ownership interests in our subsidiaries held by parties other than Parker Drilling. 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. During the fourth quarter of 2015, we purchased the remaining noncontrolling interest of ITS Arabia Limited for $6.75 million , of which $3.4 million remains payable to the seller at a later date. At the time of purchase, the carrying value of the noncontrolling interest was $3.0 million . 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 services 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 services contracts include engineering, consulting, and project management scopes of work and revenue is typically recognized on a time and materials basis. Reimbursable Revenues — The Company recognizes reimbursements received for out-of-pocket expenses incurred as revenues and accounts for out-of-pocket expenses as direct operating costs. Such amounts totaled $19.0 million and $19.7 million for the three months ended March 31, 2016 and 2015 , respectively. Additionally, the Company typically receives a nominal handling fee, which is recognized as 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 perform our annual goodwill impairment review as of October 1 of each year, and more frequently if negative conditions or other triggering events arise. The quantitative impairment test we perform for goodwill utilizes certain assumptions, including forecasted revenue and costs assumptions. See Note 3 - Goodwill and Intangible Assets for further discussion. Intangible Assets — Our intangible assets are related to 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. Impairment — We evaluate the carrying amounts of long-lived assets for potential impairment when events occur or circumstances change that indicate the carrying values of such assets may not be recoverable. We evaluate recoverability by determining the undiscounted estimated future net cash flows for the respective asset groups identified. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset group, we measure the impairment as the amount by which the assets’ carrying value exceeds the fair value of such assets. Management considers a number of factors such as estimated future cash flows from the assets, appraisals and current market value analysis in determining fair value. Assets are written down to fair value if the final estimate of current fair value is below the net carrying value. The assumptions used in the impairment evaluation are inherently uncertain and require management judgment. 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 national and international oil and natural gas companies. 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 39.2 percent of our revenues for the three months ended March 31, 2016 . Excluding reimbursable revenues of $18.3 million , our largest customer, ENL, constituted approximately 29.5 percent of our total consolidated revenues, net of reimbursables, for the three months ended March 31, 2016 . Our second largest customer, BP Exploration Alaska, Inc. (BP), constituted approximately 11.5 percent of our revenues for the three months ended March 31, 2016 . Excluding reimbursable revenues of $92.0 thousand , our second largest customer constituted approximately 13.3 percent of our total consolidated revenues, net of reimbursables, for the three months ended March 31, 2016 . At March 31, 2016 and December 31, 2015 , we had deposits in domestic banks in excess of federally insured limits of approximately $63.8 million and $91.3 million , respectively. In addition, we had uninsured deposits in foreign banks as of March 31, 2016 and December 31, 2015 of $46.6 million and $44.1 million , respectively. Income Taxes — Income taxes are accounted for under the asset and liability method and have been provided for based upon tax laws and rates in effect in the countries in which operations are conducted and income or losses are generated. There is little or no expected relationship between the provision for or benefit from income taxes and income or loss before income taxes as the countries in which we operate have taxation regimes that vary not only with respect to nominal rate, but also in terms of the availability of deductions, credits, and other benefits. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the temporary differences are expected to be recovered or settled and the effect of changes in tax rates is recognized in income in the period in which the change is enacted. Valuation allowances are established to reduce deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized. 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 matters. 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. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized and changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Legal and Investigation Matters — We accrue estimates of the probable and estimable costs for the resolution of certain legal and investigation matters. We do not accrue any amounts for other matters for which the liability is not probable and reasonably estimable. Generally, the estimate of probable costs related to these matters is developed in consultation with our legal advisors. The estimates take into consideration factors such as the complexity of the issues, litigation risks and settlement costs. If the actual settlement costs, final judgments, or fines, after appeals, differ from our estimates, our future financial results may be adversely affected.

Goodwill and Intangible Assets

Goodwill and Intangible Assets Goodwill and Intangible Assets (Notes)	3 Months Ended
	Mar. 31, 2016
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. We perform our annual goodwill impairment review as of October 1 of each year, and more frequently if events and circumstances change that indicate the carrying value of the goodwill may be impaired. During the 2016 first quarter, circumstances indicated that the fair value of the reporting unit may not be in excess of the carrying value of the goodwill. Therefore we performed a goodwill impairment review and determined that the fair value of the reporting unit exceeded its carrying value and therefore, no goodwill impairment was identified. Should current market conditions worsen or persist for an extended period of time, an impairment of the carrying value of our goodwill could occur. 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 acquisition of International Tubular Services Limited (ITS) and related assets (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 March 31, 2016 is as follows: Dollars in thousands Goodwill Balance at December 31, 2015 $ 6,708 Additions — Balance at March 31, 2016 $ 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: Balance at March 31, 2016 Dollars in thousands Estimated Useful Life (Years) Gross Carrying Amount Write-off Due to Sale in 2015 (1) Accumulated Amortization Net Carrying Amount Amortized intangible assets: Developed Technology 6 $ 11,630 — $ (1,938 ) $ 9,692 Customer Relationships 3 5,400 (264 ) (5,038 ) 98 Trademarks and trade names 5 4,940 (332 ) (2,178 ) 2,430 Total Amortized intangible assets $ 21,970 $ (596 ) $ (9,154 ) $ 12,220 (1) During the 2015 fourth quarter, we sold our controlling interest in a joint venture in Egypt resulting in the write-off of $0.6 million of intangible assets related to customer relationships and trade name acquired as part of the ITS Acquisition. Amortization expense was $1.2 million and $0.6 million for the three months ended March 31, 2016 and 2015 , respectively. Our remaining intangibles amortization expense for the next five years is presented below: Dollars in thousands Expected future intangible amortization expense 2016 $ 2,292 2017 $ 2,801 2018 $ 2,306 2019 $ 2,306 2020 $ 2,030 Beyond 2020 $ 485

Earnings per share (EPS)

Earnings per share (EPS)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings per share (EPS)	Earnings (Loss) Per Share (EPS) Three Months Ended March 31, 2016 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ (95,835,000 ) 123,090,238 $ (0.78 ) Effect of dilutive securities: Restricted stock units — — — Diluted EPS $ (95,835,000 ) 123,090,238 $ (0.78 ) Three Months Ended March 31, 2015 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ 3,222,000 121,887,072 $ 0.03 Effect of dilutive securities: Restricted stock units — 1,821,551 — Diluted EPS $ 3,222,000 123,708,623 $ 0.03 For the three months ended March 31, 2016 , 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 month period, and therefore, inclusion of such potential common shares in the calculation would be anti-dilutive. For the three months ended March 31, 2015 , 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	3 Months Ended
	Mar. 31, 2016
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, 2015 $ (1,888 ) Current period other comprehensive (loss) (1,036 ) March 31, 2016 $ (2,924 ) Amounts reclassified out of accumulated other comprehensive loss were $1.9 million for the three months ended March 31, 2016 and represent realized foreign currency translation gains.

Reportable Segments

Reportable Segments	3 Months Ended
	Mar. 31, 2016
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. Within the three reportable segments, we have aggregated our U.S. and international rental tools business units under Rental Tools, one business unit under U.S. (Lower 48) Drilling, and our Arctic, Eastern Hemisphere and Latin America business units under International & Alaska Drilling for a total of six business units. The Company has aggregated each of its business units in one of the three reporting segments based on the guidelines of ASC Topic 280, “Segment Reporting” (“ASC Topic 280”). We eliminate inter-segment revenues and expenses. We disclose revenues under the three reportable segments based on the similarity of the use and markets for the groups of products and services within each segment. Drilling Services Business Line In our Drilling Services business, we drill oil and gas wells for customers in both the U.S. and international markets. We provide this service with both Company-owned rigs and customer-owned rigs. We refer to the provision of drilling services with customer-owned rigs as our O&M service in which operators own their own drilling rigs but choose Parker Drilling to operate and maintain the rigs for them. The nature and scope of activities involved in drilling an oil and gas well is similar whether it is drilled with a Company-owned rig (as part of a traditional drilling contract) or a customer-owned rig (as part of an O&M contract). In addition, we provide project related 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. U.S. (Lower 48) Drilling Our U.S. (Lower 48) Drilling segment provides drilling services with our GOM barge drilling rig fleet and through U.S. (Lower 48) based O&M services. Our GOM barge drilling fleet 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 rigs are suitable for a variety of drilling programs, from inland coastal waters requiring shallow draft barges, to open water drilling on both state and federal water projects requiring more robust hull depth capabilities. The barge drilling industry in the GOM is characterized by cyclical activity where utilization and dayrates are typically driven by oil and gas prices and our customers’ access to project financing. Contract terms tend to be well-to-well or multi-well programs, most commonly ranging from 45 to 150 days. International & Alaska Drilling Our International & Alaska Drilling segment provides drilling services, with Company-owned rigs as well as through O&M contracts, and project related services. The drilling markets in which this segment operates have one or more of the following characteristics: • customers that typically are major, independent or national oil and natural gas companies or integrated service providers; • drilling programs in remote locations with little infrastructure, requiring a large inventory of spare parts and other ancillary equipment and self-supported service capabilities; • complex wells and/or harsh environments (such as high pressures, deep depths, hazardous or geologically challenging conditions and sensitive environments) requiring specialized equipment and considerable experience to drill; and • drilling and O&M contracts that generally cover periods of one year or more. Our Rental Tools Services Business Our Rental Tools segment provides premium rental equipment and services to E&P 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, tubing, pressure control equipment, including 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. Our largest single market for rental tools is U.S. land drilling. Generally, rental tools are used for only a portion of a well drilling program and are usually rented on a daily or monthly basis. The following table represents the results of operations by reportable segment: Three Months Ended March 31, Dollars in thousands 2016 2015 Revenues: (1) Drilling Services: U.S. (Lower 48) Drilling $ 2,085 $ 14,097 International & Alaska Drilling 88,619 113,921 Total Drilling Services 90,704 128,018 Rental Tools 39,799 76,058 Total revenues 130,503 204,076 Operating gross margin: (2) Drilling Services: U.S. (Lower 48) Drilling (8,558 ) (5,717 ) International & Alaska Drilling 5,077 17,354 Total Drilling Services (3,481 ) 11,637 Rental Tools (9,947 ) 12,630 Total operating gross margin (13,428 ) 24,267 General and administrative expense (9,781 ) (10,837 ) Gain (loss) on disposition of assets, net (60 ) 2,441 Total operating income (loss) (23,269 ) 15,871 Interest expense (11,562 ) (11,078 ) Interest income 7 183 Other income (loss) 2,485 (1,380 ) Income (loss) from continuing operations before income taxes $ (32,339 ) $ 3,596 (1) For the three months ended March 31, 2016 , our largest customer, ENL, constituted approximately 39.2 percent of our total consolidated revenues and approximately 57.8 percent of our International & Alaska Drilling segment revenues. Excluding reimbursable revenues of $18.3 million , our largest customer, ENL, constituted approximately 29.5 percent of our total consolidated revenues, net of reimbursables, and approximately 47.2 percent of our International & Alaska Drilling segment revenues. Our second largest customer, BP, constituted 11.5 percent of our total consolidated revenues and approximately 16.5 percent of our International & Alaska Drilling segment revenues. Excluding reimbursable revenues of $92 thousand , our second largest customer constituted approximately 13.3 percent of our total consolidated revenues, net of reimbursables, and approximately 20.9 percent of our International & Alaska Drilling segment revenues. For the three months ended March 31, 2015 , our largest customer, ENL , constituted approximately 22.9 percent of our total consolidated revenues and approximately 41.0 percent of our International & Alaska Drilling segment revenues. Excluding reimbursable revenues of $16.0 million , our largest customer, ENL, constituted approximately 16.7 percent of our total consolidated revenues, net of reimbursables, and approximately 32.3 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	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 we had a liability for unrecognized tax benefits of $6.0 million , all of which would favorably impact our effective tax rate upon recognition, primarily related to foreign operations. At March 31, 2015 , we had a liability for unrecognized tax benefits of $8.2 million , including $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 March 31, 2016 and March 31, 2015 , we had approximately $1.9 million and $3.4 million , respectively, of accrued interest and penalties related to uncertain tax positions. During the quarter ended March 31, 2016 , we received assessments from a foreign tax authority related to prior year income tax returns. Previously recorded reserves were in excess of the assessed amounts and an income tax benefit of $1.4 million was recorded during the quarter. Management believes that the Company is properly reserved with respect to accounting for uncertainty in income taxes.

Income Tax Benefit_Expense

Income Tax Benefit/Expense	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Benefit/Expense	Income Tax Benefit/Expense During the first quarter of 2016 we had income tax expense of $63.5 million compared to income tax benefit of $0.2 million during the first quarter of 2015 . Despite the pre-tax operating loss for the first quarter of 2016, we recognized income tax expense as a result of recording a valuation allowance of $73.1 million against our U.S. domestic deferred tax assets, which primarily consist of U.S. federal net operating losses. We established the valuation allowance based on the weight of positive and negative evidence available, including the recent and current results of operations which reflect continued degradation in market activity and including the increased contractual uncertainty materializing during the first quarter of 2016 in the U.S. jurisdictions in which we operate. In order to determine the need for a valuation allowance, we must make estimates and assumptions. Changes in these estimates and assumptions, including changes in tax laws and other changes impacting our ability to recognize the underlying deferred tax assets, may require us to adjust the valuation allowances in the future. The income tax benefit in the first quarter of 2015 was primarily related to changes in the carrying value of certain deferred tax assets due to changes in tax law and taxing jurisdictions.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The following table illustrates our debt portfolio as of March 31, 2016 and December 31, 2015 : Dollars in thousands March 31, December 31, 6.75% Senior Notes, due July 2022 $ 360,000 $ 360,000 7.50% Senior Notes, due August 2020 225,000 225,000 Total Principal 585,000 585,000 Less: unamortized debt issuance costs (9,829 ) (10,202 ) Total long-term debt $ 575,171 $ 574,798 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 pursuant to a tender and consent solicitation offer commenced on January 7, 2014. 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 ( $6.0 million net of amortization as of March 31, 2016 ) 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 ( $3.8 million , net of amortization as of March 31, 2016 ) 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. 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. The 2012 Secured Credit Agreement consisted of an $80.0 million revolving credit facility and a $50.0 million term loan. At the closing of the 2015 Secured Credit Agreement, the outstanding balance on the term loan was $30.0 million , and we repaid this balance 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 $5.0 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 the 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 ( $2.3 million , net of amortization as of March 31, 2016 ) 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, certain U.S.-based rental equipment of the Company and its subsidiary guarantors and the equity interests of certain of the Company’s subsidiaries. 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, a consolidated leverage ratio, as described above, a consolidated interest coverage ratio, as described above, and a maximum senior secured leverage ratio of 1.50:1:00 at each quarter end). We were in compliance with all such covenants as of March 31, 2016 . 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 March 31, 2016 totaled $12.8 million . There were no amounts drawn on the 2015 Revolver as of March 31, 2016 .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2016
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; and • 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: March 31, 2016 December 31, 2015 Dollars in thousands Carrying Amount Fair Value Carrying Amount Fair Value Long-term Debt 6.75% Notes $ 360,000 $ 255,600 $ 360,000 $ 246,600 7.50% Notes 225,000 175,500 225,000 171,000 Total Principal $ 585,000 $ 431,100 $ 585,000 $ 417,600 The assets acquired and liabilities assumed in the 2M-Tek Acquisition were recorded at fair value in accordance with U.S. GAAP. Acquisition date fair values represent either Level 2 fair value measurements (current assets and liabilities, property, plant and equipment) or Level 3 fair value measurements (intangible assets). 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 three months ended March 31, 2016 .

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2016
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. The third written annual report was filed with the DOJ on April 15, 2016.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09, Compensation - Stock Compensation (Topic 718). The objective of this update is to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard becomes effective for public companies for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. We are in the process of assessing the impact of the adoption of ASU 2016-09 on our financial position, results of operations and cash flows. In March 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This update establishes a new lease accounting model for lessees. Early adoption is permitted. Upon adoption, a modified retrospective approach is required for leases that exist, or are entered into, after the beginning of the earliest comparative period presented. The standard becomes effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are in the process of assessing the impact of the adoption of ASU 2016-02 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. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes (Topic 740). This update requires businesses to classify deferred tax liabilities and assets on their balance sheets as noncurrent. Early adoption is permitted. Upon adoption, an entity must apply the new guidance either retrospectively to all prior periods presented in the financial statements prospectively for all new information on a going forward-basis. We early adopted the standard on a retrospective basis as of December 31, 2015. In September 2015, the FASB issued 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 adopted this new standard and there was not 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 adopted this new standard and there was not a material impact 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 adopted this standard on a retrospective basis effective January 1, 2016 and it resulted in the netting of $9.8 million of deferred financing costs against long-term debt balances on the consolidated balance sheets for the period ended March 31, 2016 and $10.2 million for the period ended December 31, 2015. We continue to record the deferred financing costs related to our revolving credit facility in “other noncurrent assets” on our consolidated balance sheets for the periods presented. There was 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 recognize 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	3 Months Ended
	Mar. 31, 2016
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 Rule 3-10(f) of Regulation S-X. 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 March 31, 2016 and December 31, 2015 and for the three months ended March 31, 2016 and 2015 , 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, 2015 and for the three months ended March 31, 2015 . PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 45,822 $ 13,242 $ 49,363 $ — $ 108,427 Accounts and notes receivable, net — 48,785 126,597 — 175,382 Rig materials and supplies — (3,788 ) 40,296 — 36,508 Other current assets — 5,124 19,314 — 24,438 Total current assets 45,822 63,363 235,570 — 344,755 Property, plant and equipment, net (19 ) 521,959 254,972 — 776,912 Goodwill — 6,708 — — 6,708 Intangible assets, net — 11,164 1,056 — 12,220 Investment in subsidiaries and intercompany advances 3,049,008 2,810,676 3,439,433 (9,299,117 ) — Other noncurrent assets (225,185 ) 277,015 543,011 (480,787 ) 114,054 Total assets $ 2,869,626 $ 3,690,885 $ 4,474,042 $ (9,779,904 ) $ 1,254,649 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities $ 104,789 $ 55,216 $ 572,465 $ (617,477 ) $ 114,993 Accrued income taxes 20,216 (6,430 ) (7,806 ) — 5,980 Total current liabilities 125,005 48,786 564,659 (617,477 ) 120,973 Long-term debt, net 575,171 — — — 575,171 Other long-term liabilities 2,868 5,867 5,020 — 13,755 Long-term deferred tax liability (29 ) 72,948 (1,021 ) — 71,898 Intercompany payables 1,693,797 1,412,285 1,962,772 (5,068,854 ) — Total liabilities 2,396,812 1,539,886 2,531,430 (5,686,331 ) 781,797 Total equity 472,814 2,150,999 1,942,612 (4,093,573 ) 472,852 Total liabilities and stockholders’ equity $ 2,869,626 $ 3,690,885 $ 4,474,042 $ (9,779,904 ) $ 1,254,649 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 73,985 $ 13,854 $ 46,455 $ — $ 134,294 Accounts and notes receivable, net — 42,261 132,844 — 175,105 Rig materials and supplies — (4,744 ) 39,681 — 34,937 Other current assets — 5,982 16,423 — 22,405 Total current assets 73,985 57,353 235,403 — 366,741 Property, plant and equipment, net (19 ) 543,346 262,514 — 805,841 Goodwill — 6,708 — — 6,708 Intangible assets, net — 11,740 1,637 — 13,377 Investment in subsidiaries and intercompany advances 3,057,220 2,770,501 3,319,702 (9,147,423 ) — Other noncurrent assets (234,786 ) 312,790 265,995 (169,964 ) 174,035 Total assets $ 2,896,400 $ 3,702,438 $ 4,085,251 $ (9,317,387 ) $ 1,366,702 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current portion of long-term debt $ — $ — $ — $ — $ — Accounts payable and accrued liabilities 84,456 56,382 295,439 (306,574 ) 129,703 Accrued income taxes 9,900 2,111 (5,593 ) — 6,418 Total current liabilities 94,356 58,493 289,846 (306,574 ) 136,121 Long-term debt, net 574,798 — — — 574,798 Other long-term liabilities 2,868 7,446 8,303 — 18,617 Long-term deferred tax liability (29 ) 69,679 (996 ) — 68,654 Intercompany payables 1,656,968 1,401,510 1,864,671 (4,923,149 ) — Total liabilities 2,328,961 1,537,128 2,161,824 (5,229,723 ) 798,190 Total equity 567,439 2,165,310 1,923,427 (4,087,664 ) 568,512 Total liabilities and stockholders’ equity $ 2,896,400 $ 3,702,438 $ 4,085,251 $ (9,317,387 ) $ 1,366,702 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS (Dollars in Thousands) (Unaudited) Three Months Ended March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 47,382 $ 106,477 $ (23,356 ) $ 130,503 Operating expenses — 32,835 98,638 (23,356 ) 108,117 Depreciation and amortization — 23,125 12,689 — 35,814 Total operating gross margin — (8,578 ) (4,850 ) — (13,428 ) General and administration expense (1) (87 ) (9,613 ) (81 ) — (9,781 ) (Loss) on disposition of assets, net — (56 ) (4 ) — (60 ) Total operating income (loss) (87 ) (18,247 ) (4,935 ) — (23,269 ) Other income and (expense): Interest expense (11,857 ) (437 ) (2,859 ) 3,591 (11,562 ) Interest income 204 179 3,215 (3,591 ) 7 Other — 485 2,000 — 2,485 Equity in net earnings of subsidiaries (16,225 ) — — 16,225 — Total other income (expense) (27,878 ) 227 2,356 16,225 (9,070 ) Income (loss) before income taxes (27,965 ) (18,020 ) (2,579 ) 16,225 (32,339 ) Total income tax expense (benefit) 67,870 (3,707 ) (667 ) — 63,496 Net income (loss) (95,835 ) (14,313 ) (1,912 ) 16,225 (95,835 ) Less: Net income attributable to noncontrolling interest — — — — — Net income (loss) attributable to controlling interest $ (95,835 ) $ (14,313 ) $ (1,912 ) $ 16,225 $ (95,835 ) (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 March 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 79,395 $ 150,931 $ (26,250 ) $ 204,076 Operating expenses — 44,145 121,375 (26,250 ) 139,270 Depreciation and amortization — 23,311 17,228 — 40,539 Total operating gross margin — 11,939 12,328 — 24,267 General and administration expense (1) (112 ) (10,115 ) (610 ) — (10,837 ) Gain on disposition of assets, net — 52 2,389 — 2,441 Total operating income (loss) (112 ) 1,876 14,107 — 15,871 Other income and (expense): Interest expense (11,059 ) (17 ) (328 ) 326 (11,078 ) Interest income 417 3 89 (326 ) 183 Other — 10 (1,390 ) — (1,380 ) Equity in net earnings of subsidiaries 8,988 — — (8,988 ) — Total other income (expense) (1,654 ) (4 ) (1,629 ) (8,988 ) (12,275 ) Income (loss) before income taxes (1,766 ) 1,872 12,478 (8,988 ) 3,596 Income tax expense (benefit) (4,988 ) (447 ) 5,253 — (182 ) Net income (loss) 3,222 2,319 7,225 (8,988 ) 3,778 Less: Net income attributable to noncontrolling interest — — 556 — 556 Net income (loss) attributable to controlling interest $ 3,222 $ 2,319 $ 6,669 $ (8,988 ) $ 3,222 (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 March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ (95,835 ) $ (14,313 ) $ (1,912 ) $ 16,225 $ (95,835 ) Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — 502 — 502 Currency translation difference on foreign currency net investments — — (1,538 ) — (1,538 ) Total other comprehensive income (loss), net of tax: — — (1,036 ) — (1,036 ) Comprehensive income (loss) (95,835 ) (14,313 ) (2,948 ) 16,225 (96,871 ) Comprehensive (loss) attributable to noncontrolling interest — — — — — Comprehensive income (loss) attributable to controlling interest $ (95,835 ) $ (14,313 ) $ (2,948 ) $ 16,225 $ (96,871 ) PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Three Months Ended March 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ 3,222 $ 2,319 $ 7,225 $ (8,988 ) $ 3,778 Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (1,670 ) — (1,670 ) Currency translation difference on foreign currency net investments — — (849 ) — (849 ) Total other comprehensive income (loss), net of tax: — — (2,519 ) — (2,519 ) Comprehensive income (loss) 3,222 2,319 4,706 (8,988 ) 1,259 Comprehensive (loss) attributable to noncontrolling interest — — (394 ) — (394 ) Comprehensive income (loss) attributable to controlling interest $ 3,222 $ 2,319 $ 4,312 $ (8,988 ) $ 865 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Three Months Ended March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (95,835 ) $ (14,313 ) $ (1,912 ) $ 16,225 $ (95,835 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 23,125 12,689 — 35,814 Accretion of contingent consideration — 419 — — 419 Gain on disposition of assets — 56 4 — 60 Deferred income tax expense 57,677 5,185 549 — 63,411 Expenses not requiring cash 1,740 33 (2,199 ) — (426 ) Equity in net earnings of subsidiaries 16,225 — — (16,225 ) — Change in assets and liabilities: Accounts and notes receivable — (6,637 ) 6,256 — (381 ) Other assets (37,191 ) 33,904 2,983 — (304 ) Accounts payable and accrued liabilities (9,521 ) (799 ) (4,117 ) — (14,437 ) Accrued income taxes 10,680 (8,905 ) (5,375 ) — (3,600 ) Net cash provided by (used in) operating activities (56,225 ) 32,068 8,878 — (15,279 ) Cash flows from investing activities: Capital expenditures — (3,521 ) (4,368 ) — (7,889 ) Proceeds from the sale of assets — 28 26 — 54 Net cash provided by (used in) investing activities — (3,493 ) (4,342 ) — (7,835 ) Cash flows from financing activities: Payment of contingent consideration — (2,000 ) — — (2,000 ) Excess tax benefit from stock-based compensation (753 ) — — — (753 ) Intercompany advances, net 28,815 (27,187 ) (1,628 ) — — Net cash provided by (used in) financing activities 28,062 (29,187 ) (1,628 ) — (2,753 ) Net change in cash and cash equivalents (28,163 ) (612 ) 2,908 — (25,867 ) Cash and cash equivalents at beginning of year 73,985 13,854 46,455 — 134,294 Cash and cash equivalents at end of year $ 45,822 $ 13,242 $ 49,363 $ — $ 108,427 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Three Months Ended March 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ 3,222 $ 2,319 $ 7,225 $ (8,988 ) $ 3,778 Adjustments to reconcile net income (loss) Depreciation and amortization — 23,311 17,228 — 40,539 Gain on disposition of assets — (52 ) (2,389 ) — (2,441 ) Deferred income tax expense (7,932 ) 3,117 (1,489 ) — (6,304 ) Expenses not requiring cash 2,443 436 (1,142 ) — 1,737 Equity in net earnings of subsidiaries (8,988 ) — — 8,988 — Change in assets and liabilities: Accounts and notes receivable 19 (12,289 ) 5,620 — (6,650 ) Other assets 25,016 (41,216 ) (3,887 ) — (20,087 ) Accounts payable and accrued liabilities (10,549 ) 47,058 17,536 — 54,045 Accrued income taxes (10,727 ) 13,922 (581 ) — 2,614 Net cash provided by (used in) operating activities (7,496 ) 36,606 38,121 — 67,231 Cash flows from investing activities: Capital expenditures — (24,418 ) (9,037 ) — (33,455 ) Proceeds from the sale of assets — 50 196 — 246 Proceeds from insurance settlements — — 2,500 — 2,500 Net cash provided by (used in) investing activities — (24,368 ) (6,341 ) — (30,709 ) Cash flows from financing activities: Repayments of long-term debt (30,000 ) — — — (30,000 ) Payment of debt issuance costs (1,359 ) — — — (1,359 ) Excess tax benefit from stock-based compensation (420 ) — — — (420 ) Intercompany advances, net 34,251 (14,840 ) (19,411 ) — — Net cash provided by (used in) financing activities 2,472 (14,840 ) (19,411 ) — (31,779 ) Net change in cash and cash equivalents (5,024 ) (2,602 ) 12,369 — 4,743 Cash and cash equivalents at beginning of year 36,728 13,546 58,182 — 108,456 Cash and cash equivalents at end of year $ 31,704 $ 10,944 $ 70,551 $ — $ 113,199

General (Policies)

General (Policies) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accounting Policies [Abstract]
Income Tax, Policy [Policy Text Block]	Income Taxes — Income taxes are accounted for under the asset and liability method and have been provided for based upon tax laws and rates in effect in the countries in which operations are conducted and income or losses are generated. There is little or no expected relationship between the provision for or benefit from income taxes and income or loss before income taxes as the countries in which we operate have taxation regimes that vary not only with respect to nominal rate, but also in terms of the availability of deductions, credits, and other benefits. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the temporary differences are expected to be recovered or settled and the effect of changes in tax rates is recognized in income in the period in which the change is enacted. Valuation allowances are established to reduce deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized. 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 matters. 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. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50 percent likely of being realized and changes in recognition or measurement are reflected in the period in which the change in judgment occurs.
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 drill oil and gas wells for customers in both the U.S. and international markets. We provide this service with both Company-owned rigs and customer-owned rigs. We refer to the provision of drilling services with customer-owned rigs as our operations and maintenance (O&M) service in which operators own their own drilling rigs but choose Parker Drilling to operate and maintain the rigs for them. The nature and scope of activities involved in drilling an oil and gas well are similar whether the well is drilled with a Company-owned rig (as part of a traditional drilling contract) or a customer-owned rig (as part of an O&M contract). In addition, we provide project related 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 provides drilling services with our Gulf of Mexico (GOM) barge drilling fleet and through U.S. (Lower 48) based O&M services. Our GOM barge drilling fleet 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 provides drilling services, with Company-owned rigs as well as through O&M contracts, and project related services. We strive to deploy our fleet of Company-owned rigs in markets where we expect to have opportunities to keep the rigs consistently utilized and build a sufficient presence to achieve efficient operating scale. In our Rental Tools Services business, we provide premium rental equipment and services to exploration and production (E&P) companies, drilling contractors and service companies on land and offshore in the United States (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. Generally, rental tools are used for only a portion of a well drilling program and are requested by the customer when they are needed, requiring us to keep a broad inventory of rental tools in stock. Rental tools are usually rented on a daily or monthly basis.
Consolidation	Consolidation — The consolidated financial statements include the accounts of the Company and subsidiaries over which we exercise control or in which we 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.
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. 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. During the fourth quarter of 2015, we purchased the remaining noncontrolling interest of ITS Arabia Limited for $6.75 million , of which $3.4 million remains payable to the seller at a later date. At the time of purchase, the carrying value of the noncontrolling interest was $3.0 million .
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 services 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 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 Revenues — The Company recognizes reimbursements received for out-of-pocket expenses incurred as revenues and accounts for out-of-pocket expenses as direct operating costs. Such amounts totaled $19.0 million and $19.7 million for the three months ended March 31, 2016 and 2015 , respectively. Additionally, the Company typically receives a nominal handling fee, which is recognized as revenues in our consolidated statement of operations.
Reimbursable Costs	$ 19	$ 19.7
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. See Note 2 - Acquisitions for further discussion. Acquisitions 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 (the 2M-Tek Acquisition) for an initial purchase price of $10.4 million paid at the closing of the 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 closing 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 recorded the fair value of the liability for contingent consideration in “accrued liabilities” on our consolidated condensed balance sheet. We paid $2.0 million of the contingent consideration upon the achievement of certain milestones during the fourth quarter of 2015 and $2.0 million during the first quarter of 2016. The remaining $4.0 million of the contingent consideration was paid in April 2016. We include the operations and related assets acquired and liabilities we assumed in our Rental Tools segment. This acquisition complements our existing international tubular running services (TRS) business and 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 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 fair value measurements (current assets and liabilities, property plant and equipment) or Level 3 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.
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 perform our annual goodwill impairment review as of October 1 of each year, and more frequently if negative conditions or other triggering events arise. The quantitative impairment test we perform for goodwill utilizes certain assumptions, including forecasted revenue and costs assumptions. See Note 3 - Goodwill and Intangible Assets for further discussion.
Intangible Assets	Intangible Assets — Our intangible assets are related to 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.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment — We evaluate the carrying amounts of long-lived assets for potential impairment when events occur or circumstances change that indicate the carrying values of such assets may not be recoverable. We evaluate recoverability by determining the undiscounted estimated future net cash flows for the respective asset groups identified. If the sum of the estimated undiscounted cash flows is less than the carrying value of the asset group, we measure the impairment as the amount by which the assets’ carrying value exceeds the fair value of such assets. Management considers a number of factors such as estimated future cash flows from the assets, appraisals and current market value analysis in determining fair value. Assets are written down to fair value if the final estimate of current fair value is below the net carrying value. The assumptions used in the impairment evaluation are inherently uncertain and require management judgment.
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 national and international oil and natural gas companies. 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 39.2 percent of our revenues for the three months ended March 31, 2016 . Excluding reimbursable revenues of $18.3 million , our largest customer, ENL, constituted approximately 29.5 percent of our total consolidated revenues, net of reimbursables, for the three months ended March 31, 2016 . Our second largest customer, BP Exploration Alaska, Inc. (BP), constituted approximately 11.5 percent of our revenues for the three months ended March 31, 2016 . Excluding reimbursable revenues of $92.0 thousand , our second largest customer constituted approximately 13.3 percent of our total consolidated revenues, net of reimbursables, for the three months ended March 31, 2016 . At March 31, 2016 and December 31, 2015 , we had deposits in domestic banks in excess of federally insured limits of approximately $63.8 million and $91.3 million , respectively. In addition, we had uninsured deposits in foreign banks as of March 31, 2016 and December 31, 2015 of $46.6 million and $44.1 million , respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09, Compensation - Stock Compensation (Topic 718). The objective of this update is to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard becomes effective for public companies for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. We are in the process of assessing the impact of the adoption of ASU 2016-09 on our financial position, results of operations and cash flows. In March 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This update establishes a new lease accounting model for lessees. Early adoption is permitted. Upon adoption, a modified retrospective approach is required for leases that exist, or are entered into, after the beginning of the earliest comparative period presented. The standard becomes effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are in the process of assessing the impact of the adoption of ASU 2016-02 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. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes (Topic 740). This update requires businesses to classify deferred tax liabilities and assets on their balance sheets as noncurrent. Early adoption is permitted. Upon adoption, an entity must apply the new guidance either retrospectively to all prior periods presented in the financial statements prospectively for all new information on a going forward-basis. We early adopted the standard on a retrospective basis as of December 31, 2015. In September 2015, the FASB issued 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 adopted this new standard and there was not 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 adopted this new standard and there was not a material impact 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 adopted this standard on a retrospective basis effective January 1, 2016 and it resulted in the netting of $9.8 million of deferred financing costs against long-term debt balances on the consolidated balance sheets for the period ended March 31, 2016 and $10.2 million for the period ended December 31, 2015. We continue to record the deferred financing costs related to our revolving credit facility in “other noncurrent assets” on our consolidated balance sheets for the periods presented. There was 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 recognize 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.
Legal Costs, Policy [Policy Text Block]	Legal and Investigation Matters — We accrue estimates of the probable and estimable costs for the resolution of certain legal and investigation matters. We do not accrue any amounts for other matters for which the liability is not probable and reasonably estimable. Generally, the estimate of probable costs related to these matters is developed in consultation with our legal advisors. The estimates take into consideration factors such as the complexity of the issues, litigation risks and settlement costs. If the actual settlement costs, final judgments, or fines, after appeals, differ from our estimates, our future financial results may be adversely affected.

Earnings per share (EPS) (Table

Earnings per share (EPS) (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2016 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ (95,835,000 ) 123,090,238 $ (0.78 ) Effect of dilutive securities: Restricted stock units — — — Diluted EPS $ (95,835,000 ) 123,090,238 $ (0.78 ) Three Months Ended March 31, 2015 Income (Numerator) Shares (Denominator) Per-Share Amount Basic EPS $ 3,222,000 121,887,072 $ 0.03 Effect of dilutive securities: Restricted stock units — 1,821,551 — Diluted EPS $ 3,222,000 123,708,623 $ 0.03

Accumulated Other Comprehensi21

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of accumulated other comprehensive income	Accumulated other comprehensive loss consisted of the following: Dollars in thousands Foreign Currency Items December 31, 2015 $ (1,888 ) Current period other comprehensive (loss) (1,036 ) March 31, 2016 $ (2,924 )

Reportable Segments (Tables)

Reportable Segments (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Results of Operations by Reportable Segment	The following table represents the results of operations by reportable segment: Three Months Ended March 31, Dollars in thousands 2016 2015 Revenues: (1) Drilling Services: U.S. (Lower 48) Drilling $ 2,085 $ 14,097 International & Alaska Drilling 88,619 113,921 Total Drilling Services 90,704 128,018 Rental Tools 39,799 76,058 Total revenues 130,503 204,076 Operating gross margin: (2) Drilling Services: U.S. (Lower 48) Drilling (8,558 ) (5,717 ) International & Alaska Drilling 5,077 17,354 Total Drilling Services (3,481 ) 11,637 Rental Tools (9,947 ) 12,630 Total operating gross margin (13,428 ) 24,267 General and administrative expense (9,781 ) (10,837 ) Gain (loss) on disposition of assets, net (60 ) 2,441 Total operating income (loss) (23,269 ) 15,871 Interest expense (11,562 ) (11,078 ) Interest income 7 183 Other income (loss) 2,485 (1,380 ) Income (loss) from continuing operations before income taxes $ (32,339 ) $ 3,596 (1) For the three months ended March 31, 2016 , our largest customer, ENL, constituted approximately 39.2 percent of our total consolidated revenues and approximately 57.8 percent of our International & Alaska Drilling segment revenues. Excluding reimbursable revenues of $18.3 million , our largest customer, ENL, constituted approximately 29.5 percent of our total consolidated revenues, net of reimbursables, and approximately 47.2 percent of our International & Alaska Drilling segment revenues. Our second largest customer, BP, constituted 11.5 percent of our total consolidated revenues and approximately 16.5 percent of our International & Alaska Drilling segment revenues. Excluding reimbursable revenues of $92 thousand , our second largest customer constituted approximately 13.3 percent of our total consolidated revenues, net of reimbursables, and approximately 20.9 percent of our International & Alaska Drilling segment revenues. For the three months ended March 31, 2015 , our largest customer, ENL , constituted approximately 22.9 percent of our total consolidated revenues and approximately 41.0 percent of our International & Alaska Drilling segment revenues. Excluding reimbursable revenues of $16.0 million , our largest customer, ENL, constituted approximately 16.7 percent of our total consolidated revenues, net of reimbursables, and approximately 32.3 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)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Summary of Company's Current Debt Portfolio	The following table illustrates our debt portfolio as of March 31, 2016 and December 31, 2015 : Dollars in thousands March 31, December 31, 6.75% Senior Notes, due July 2022 $ 360,000 $ 360,000 7.50% Senior Notes, due August 2020 225,000 225,000 Total Principal 585,000 585,000 Less: unamortized debt issuance costs (9,829 ) (10,202 ) Total long-term debt $ 575,171 $ 574,798

Fair Value of Financial Instr24

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Values and Related Carrying Values of Debt Instruments	March 31, 2016 December 31, 2015 Dollars in thousands Carrying Amount Fair Value Carrying Amount Fair Value Long-term Debt 6.75% Notes $ 360,000 $ 255,600 $ 360,000 $ 246,600 7.50% Notes 225,000 175,500 225,000 171,000 Total Principal $ 585,000 $ 431,100 $ 585,000 $ 417,600

Parent, Guarantor, Non-Guaran25

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2016
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, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 73,985 $ 13,854 $ 46,455 $ — $ 134,294 Accounts and notes receivable, net — 42,261 132,844 — 175,105 Rig materials and supplies — (4,744 ) 39,681 — 34,937 Other current assets — 5,982 16,423 — 22,405 Total current assets 73,985 57,353 235,403 — 366,741 Property, plant and equipment, net (19 ) 543,346 262,514 — 805,841 Goodwill — 6,708 — — 6,708 Intangible assets, net — 11,740 1,637 — 13,377 Investment in subsidiaries and intercompany advances 3,057,220 2,770,501 3,319,702 (9,147,423 ) — Other noncurrent assets (234,786 ) 312,790 265,995 (169,964 ) 174,035 Total assets $ 2,896,400 $ 3,702,438 $ 4,085,251 $ (9,317,387 ) $ 1,366,702 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current portion of long-term debt $ — $ — $ — $ — $ — Accounts payable and accrued liabilities 84,456 56,382 295,439 (306,574 ) 129,703 Accrued income taxes 9,900 2,111 (5,593 ) — 6,418 Total current liabilities 94,356 58,493 289,846 (306,574 ) 136,121 Long-term debt, net 574,798 — — — 574,798 Other long-term liabilities 2,868 7,446 8,303 — 18,617 Long-term deferred tax liability (29 ) 69,679 (996 ) — 68,654 Intercompany payables 1,656,968 1,401,510 1,864,671 (4,923,149 ) — Total liabilities 2,328,961 1,537,128 2,161,824 (5,229,723 ) 798,190 Total equity 567,439 2,165,310 1,923,427 (4,087,664 ) 568,512 Total liabilities and stockholders’ equity $ 2,896,400 $ 3,702,438 $ 4,085,251 $ (9,317,387 ) $ 1,366,702 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED BALANCE SHEET (Dollars in Thousands) (Unaudited) March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 45,822 $ 13,242 $ 49,363 $ — $ 108,427 Accounts and notes receivable, net — 48,785 126,597 — 175,382 Rig materials and supplies — (3,788 ) 40,296 — 36,508 Other current assets — 5,124 19,314 — 24,438 Total current assets 45,822 63,363 235,570 — 344,755 Property, plant and equipment, net (19 ) 521,959 254,972 — 776,912 Goodwill — 6,708 — — 6,708 Intangible assets, net — 11,164 1,056 — 12,220 Investment in subsidiaries and intercompany advances 3,049,008 2,810,676 3,439,433 (9,299,117 ) — Other noncurrent assets (225,185 ) 277,015 543,011 (480,787 ) 114,054 Total assets $ 2,869,626 $ 3,690,885 $ 4,474,042 $ (9,779,904 ) $ 1,254,649 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities $ 104,789 $ 55,216 $ 572,465 $ (617,477 ) $ 114,993 Accrued income taxes 20,216 (6,430 ) (7,806 ) — 5,980 Total current liabilities 125,005 48,786 564,659 (617,477 ) 120,973 Long-term debt, net 575,171 — — — 575,171 Other long-term liabilities 2,868 5,867 5,020 — 13,755 Long-term deferred tax liability (29 ) 72,948 (1,021 ) — 71,898 Intercompany payables 1,693,797 1,412,285 1,962,772 (5,068,854 ) — Total liabilities 2,396,812 1,539,886 2,531,430 (5,686,331 ) 781,797 Total equity 472,814 2,150,999 1,942,612 (4,093,573 ) 472,852 Total liabilities and stockholders’ equity $ 2,869,626 $ 3,690,885 $ 4,474,042 $ (9,779,904 ) $ 1,254,649
Consolidating Condensed Statement of Operations	Three Months Ended March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Total revenues $ — $ 47,382 $ 106,477 $ (23,356 ) $ 130,503 Operating expenses — 32,835 98,638 (23,356 ) 108,117 Depreciation and amortization — 23,125 12,689 — 35,814 Total operating gross margin — (8,578 ) (4,850 ) — (13,428 ) General and administration expense (1) (87 ) (9,613 ) (81 ) — (9,781 ) (Loss) on disposition of assets, net — (56 ) (4 ) — (60 ) Total operating income (loss) (87 ) (18,247 ) (4,935 ) — (23,269 ) Other income and (expense): Interest expense (11,857 ) (437 ) (2,859 ) 3,591 (11,562 ) Interest income 204 179 3,215 (3,591 ) 7 Other — 485 2,000 — 2,485 Equity in net earnings of subsidiaries (16,225 ) — — 16,225 — Total other income (expense) (27,878 ) 227 2,356 16,225 (9,070 ) Income (loss) before income taxes (27,965 ) (18,020 ) (2,579 ) 16,225 (32,339 ) Total income tax expense (benefit) 67,870 (3,707 ) (667 ) — 63,496 Net income (loss) (95,835 ) (14,313 ) (1,912 ) 16,225 (95,835 ) Less: Net income attributable to noncontrolling interest — — — — — Net income (loss) attributable to controlling interest $ (95,835 ) $ (14,313 ) $ (1,912 ) $ 16,225 $ (95,835 ) (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 March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ (95,835 ) $ (14,313 ) $ (1,912 ) $ 16,225 $ (95,835 ) Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — 502 — 502 Currency translation difference on foreign currency net investments — — (1,538 ) — (1,538 ) Total other comprehensive income (loss), net of tax: — — (1,036 ) — (1,036 ) Comprehensive income (loss) (95,835 ) (14,313 ) (2,948 ) 16,225 (96,871 ) Comprehensive (loss) attributable to noncontrolling interest — — — — — Comprehensive income (loss) attributable to controlling interest $ (95,835 ) $ (14,313 ) $ (2,948 ) $ 16,225 $ (96,871 ) PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATING CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Dollars in Thousands) (Unaudited) Three Months Ended March 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Comprehensive income: Net income (loss) $ 3,222 $ 2,319 $ 7,225 $ (8,988 ) $ 3,778 Other comprehensive income (loss), net of tax: Currency translation difference on related borrowings — — (1,670 ) — (1,670 ) Currency translation difference on foreign currency net investments — — (849 ) — (849 ) Total other comprehensive income (loss), net of tax: — — (2,519 ) — (2,519 ) Comprehensive income (loss) 3,222 2,319 4,706 (8,988 ) 1,259 Comprehensive (loss) attributable to noncontrolling interest — — (394 ) — (394 ) Comprehensive income (loss) attributable to controlling interest $ 3,222 $ 2,319 $ 4,312 $ (8,988 ) $ 865
Consolidated Condensed Statements of Cash Flows	ARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Three Months Ended March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (95,835 ) $ (14,313 ) $ (1,912 ) $ 16,225 $ (95,835 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 23,125 12,689 — 35,814 Accretion of contingent consideration — 419 — — 419 Gain on disposition of assets — 56 4 — 60 Deferred income tax expense 57,677 5,185 549 — 63,411 Expenses not requiring cash 1,740 33 (2,199 ) — (426 ) Equity in net earnings of subsidiaries 16,225 — — (16,225 ) — Change in assets and liabilities: Accounts and notes receivable — (6,637 ) 6,256 — (381 ) Other assets (37,191 ) 33,904 2,983 — (304 ) Accounts payable and accrued liabilities (9,521 ) (799 ) (4,117 ) — (14,437 ) Accrued income taxes 10,680 (8,905 ) (5,375 ) — (3,600 ) Net cash provided by (used in) operating activities (56,225 ) 32,068 8,878 — (15,279 ) Cash flows from investing activities: Capital expenditures — (3,521 ) (4,368 ) — (7,889 ) Proceeds from the sale of assets — 28 26 — 54 Net cash provided by (used in) investing activities — (3,493 ) (4,342 ) — (7,835 ) Cash flows from financing activities: Payment of contingent consideration — (2,000 ) — — (2,000 ) Excess tax benefit from stock-based compensation (753 ) — — — (753 ) Intercompany advances, net 28,815 (27,187 ) (1,628 ) — — Net cash provided by (used in) financing activities 28,062 (29,187 ) (1,628 ) — (2,753 ) Net change in cash and cash equivalents (28,163 ) (612 ) 2,908 — (25,867 ) Cash and cash equivalents at beginning of year 73,985 13,854 46,455 — 134,294 Cash and cash equivalents at end of year $ 45,822 $ 13,242 $ 49,363 $ — $ 108,427 Three Months Ended March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (95,835 ) $ (14,313 ) $ (1,912 ) $ 16,225 $ (95,835 ) Adjustments to reconcile net income (loss): Depreciation and amortization — 23,125 12,689 — 35,814 Accretion of contingent consideration — 419 — — 419 Gain on disposition of assets — 56 4 — 60 Deferred income tax expense 57,677 5,185 549 — 63,411 Expenses not requiring cash 1,740 33 (2,199 ) — (426 ) Equity in net earnings of subsidiaries 16,225 — — (16,225 ) — Change in assets and liabilities: Accounts and notes receivable — (6,637 ) 6,256 — (381 ) Other assets (37,191 ) 33,904 2,983 — (304 ) Accounts payable and accrued liabilities (9,521 ) (799 ) (4,117 ) — (14,437 ) Accrued income taxes 10,680 (8,905 ) (5,375 ) — (3,600 ) Net cash provided by (used in) operating activities (56,225 ) 32,068 8,878 — (15,279 ) Cash flows from investing activities: Capital expenditures — (3,521 ) (4,368 ) — (7,889 ) Proceeds from the sale of assets — 28 26 — 54 Net cash provided by (used in) investing activities — (3,493 ) (4,342 ) — (7,835 ) Cash flows from financing activities: Payment of contingent consideration — (2,000 ) — — (2,000 ) Excess tax benefit from stock-based compensation (753 ) — — — (753 ) Intercompany advances, net 28,815 (27,187 ) (1,628 ) — — Net cash provided by (used in) financing activities 28,062 (29,187 ) (1,628 ) — (2,753 ) Net change in cash and cash equivalents (28,163 ) (612 ) 2,908 — (25,867 ) Cash and cash equivalents at beginning of year 73,985 13,854 46,455 — 134,294 Cash and cash equivalents at end of year $ 45,822 $ 13,242 $ 49,363 $ — $ 108,427 PARKER DRILLING COMPANY AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) Three Months Ended March 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ 3,222 $ 2,319 $ 7,225 $ (8,988 ) $ 3,778 Adjustments to reconcile net income (loss) Depreciation and amortization — 23,311 17,228 — 40,539 Gain on disposition of assets — (52 ) (2,389 ) — (2,441 ) Deferred income tax expense (7,932 ) 3,117 (1,489 ) — (6,304 ) Expenses not requiring cash 2,443 436 (1,142 ) — 1,737 Equity in net earnings of subsidiaries (8,988 ) — — 8,988 — Change in assets and liabilities: Accounts and notes receivable 19 (12,289 ) 5,620 — (6,650 ) Other assets 25,016 (41,216 ) (3,887 ) — (20,087 ) Accounts payable and accrued liabilities (10,549 ) 47,058 17,536 — 54,045 Accrued income taxes (10,727 ) 13,922 (581 ) — 2,614 Net cash provided by (used in) operating activities (7,496 ) 36,606 38,121 — 67,231 Cash flows from investing activities: Capital expenditures — (24,418 ) (9,037 ) — (33,455 ) Proceeds from the sale of assets — 50 196 — 246 Proceeds from insurance settlements — — 2,500 — 2,500 Net cash provided by (used in) investing activities — (24,368 ) (6,341 ) — (30,709 ) Cash flows from financing activities: Repayments of long-term debt (30,000 ) — — — (30,000 ) Payment of debt issuance costs (1,359 ) — — — (1,359 ) Excess tax benefit from stock-based compensation (420 ) — — — (420 ) Intercompany advances, net 34,251 (14,840 ) (19,411 ) — — Net cash provided by (used in) financing activities 2,472 (14,840 ) (19,411 ) — (31,779 ) Net change in cash and cash equivalents (5,024 ) (2,602 ) 12,369 — 4,743 Cash and cash equivalents at beginning of year 36,728 13,546 58,182 — 108,456 Cash and cash equivalents at end of year $ 31,704 $ 10,944 $ 70,551 $ — $ 113,199

General - Additional Informatio

General - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Revenue, Major Customer [Line Items]
Payments to Acquire Property, Plant, and Equipment	$ 7,889		$ 33,455
Percentage accounted for under the equity method	50.00%
Reimbursable Costs	$ 19,000		$ 19,700
Deposits in domestic bank	63,800	$ 91,300
Deposits, Foreign	46,600	44,100
Intercompany Payables	$ 0	0
Noncontrolling Interest, Fair Value Disclosure		3,000
Exxon Neftegas Limited [Member]
Revenue, Major Customer [Line Items]
Percentage of revenue from major customer	39.20%		22.90%
Reimbursement Revenue	$ 18,300		$ 16,000
Concentration Risk, Other Risk	0.295		0.167
BP Exploration Alaska, Inc. [Member]
Revenue, Major Customer [Line Items]
Percentage of revenue from major customer	11.50%
Reimbursement Revenue	$ 92
Concentration Risk, Other Risk	0.133
ITS Arabia Limited [Member]
Revenue, Major Customer [Line Items]
Purchase Price of Remaining Noncontrolling Interest		6,750
Intercompany Payables		$ 3,375

Acquisitions ITS - Narrative (D

Acquisitions ITS - Narrative (Details) - April 17, 2015 Acquisition [Member] - USD ($) $ in Thousands	Apr. 22, 2013	Mar. 31, 2016	Jun. 30, 2016	Dec. 31, 2015	Apr. 17, 2015
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)		2,000	$ 4,000	$ 2,000	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	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Apr. 17, 2015	Apr. 22, 2013
Finite-Lived Intangible Assets [Line Items]
Goodwill (Note 3)	$ 6,708	$ 6,708
Goodwill, Acquired During Period	$ 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	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Goodwill [Line Items]
Goodwill (Note 3)	$ 6,708	$ 6,708
Goodwill, Acquired During Period	$ 0

Goodwill and Intangible Asset30

Goodwill and Intangible Assets Intangible Assets (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ (596)
Intangible Assets, Gross (Excluding Goodwill)	21,970
Finite-Lived Intangible Assets, Accumulated Amortization	(9,154)
Finite-Lived Intangible Assets, Net	$ 12,220
Developed Technology Rights [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	6 years
Amortization of Intangible Assets	$ 0
Intangible Assets, Gross (Excluding Goodwill)	11,630
Finite-Lived Intangible Assets, Accumulated Amortization	(1,938)
Finite-Lived Intangible Assets, Net	$ 9,692
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	3 years
Amortization of Intangible Assets	$ (264)
Intangible Assets, Gross (Excluding Goodwill)	5,400
Finite-Lived Intangible Assets, Accumulated Amortization	(5,038)
Finite-Lived Intangible Assets, Net	$ 98
Trademarks and Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Amortization of Intangible Assets	$ (332)
Intangible Assets, Gross (Excluding Goodwill)	4,940
Finite-Lived Intangible Assets, Accumulated Amortization	(2,178)
Finite-Lived Intangible Assets, Net	$ 2,430

Goodwill and Intangible Asset31

Goodwill and Intangible Assets Expected Future Intangibles Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets, Written off Related to Sale of Business Unit			$ (600)
Amortization of Intangible Assets	$ 1,200	$ 600
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	2,292
Finite-Lived Intangible Assets, Amortization Expense, Year Three	2,306
Finite-Lived Intangible Assets, Amortization Expense, Year Four	2,306
Finite-Lived Intangible Assets, Amortization Expense, Year Five	2,030
Finite-Lived Intangible Assets, Amortization Expense, Year Two	2,801
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	$ 485

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
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Parent	$ (95,835)	$ 3,222
Basic	123,090,238	121,887,072
Basic earnings (loss) per share	$ (0.78)	$ 0.03
Diluted	123,090,238	123,708,623
Diluted earnings (loss) per share	$ (0.78)	$ 0.03
Stock Options And Restricted Stock	0	1,821,551
Stock Options and Restricted Stock, Price per Share	$ 0	$ 0

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Income (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Equity [Abstract]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	$ 1,900
Accumulated Other Comprehensive Income Reclassifications [Roll Forward]
Beginning balance	(1,888)
Current period other comprehensive (loss)	(1,036)
Ending balance	$ (2,924)

Reportable Segments - Additiona

Reportable Segments - Additional Information (Detail) - Exxon Neftegas Limited [Member]	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Information [Line Items]
Percentage of revenue from major customer	39.20%	22.90%
International & Alaska Drilling [Member]
Segment Information [Line Items]
Percentage of revenue from major customer	57.80%	41.00%

Reportable Segments - Results o

Reportable Segments - Results of Operations by Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Revenues	$ 130,503	$ 204,076
Operating gross margin:
Total operating gross margin	(13,428)	24,267
General and administration expense	(9,781)	(10,837)
Gain (loss) on disposition of assets, net	(60)	2,441
Total operating income (loss)	(23,269)	15,871
Interest expense	(11,562)	(11,078)
Interest income	7	183
Other	2,485	(1,380)
Income (loss) before income taxes	(32,339)	3,596
Rental Tools [Member]
Revenues:
Revenues	39,799	76,058
Operating gross margin:
Total operating gross margin	(9,947)	12,630
U.S. (Lower 48) Drilling [Member]
Revenues:
Revenues	2,085	14,097
Operating gross margin:
Total operating gross margin	(8,558)	(5,717)
International & Alaska Drilling [Member]
Revenues:
Revenues	88,619	113,921
Operating gross margin:
Total operating gross margin	5,077	17,354
Drilling Services [Member]
Revenues:
Revenues	90,704	128,018
Operating gross margin:
Total operating gross margin	$ (3,481)	$ 11,637
Exxon Neftegas Limited [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Other Risk	0.295	0.167
Percentage of revenue from major customer	39.20%	22.90%
Reimbursement Revenue	$ 18,300	$ 16,000
Exxon Neftegas Limited [Member] | International & Alaska Drilling [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Other Risk	0.472	0.323
Percentage of revenue from major customer	57.80%	41.00%
BP Exploration Alaska, Inc. [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Other Risk	0.133
Percentage of revenue from major customer	11.50%
Reimbursement Revenue	$ 92
BP Exploration Alaska, Inc. [Member] | International & Alaska Drilling [Member]
Segment Reporting Information [Line Items]
Concentration Risk, Other Risk	.209
Percentage of revenue from major customer	16.50%

Accounting for Uncertainty in36

Accounting for Uncertainty in Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Liability for unrecognized tax	$ 6	$ 8.2
Unrecognized tax favorable impact on effective tax rate		3.6
Accrued interest and penalties applied to uncertain tax positions	1.9	$ 3.4
Deferred Tax Liabilities, Deferred Expense, Reserves and Accruals	$ 1.4

Income Tax Benefit_Expense - Ad

Income Tax Benefit/Expense - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 63,496	$ (182)
Valuation Allowances and Reserves, Adjustments	$ 73,100

Long-Term Debt - Summary of Com

Long-Term Debt - Summary of Company's Current Debt Portfolio (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term Debt	$ 585,000	$ 585,000
Deferred Finance Costs, Gross	(9,829)	(10,202)
Long-term Debt, Excluding Current Maturities	575,171	574,798
6.75% Senior Notes, due July 2022 [Member]
Debt Instrument [Line Items]
Long-term Debt	360,000	360,000
7.50% Senior Notes, due August 2020 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 225,000	$ 225,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	Jan. 22, 2014	Jul. 30, 2013	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Jan. 26, 2015	Apr. 18, 2013	Dec. 14, 2012
Debt Instrument [Line Items]
Debt issuance costs			$ 2,800,000
Payments of Debt Issuance Costs			0	$ 1,359,000
Repayments of long term debt				30,000,000
Interest Expense			11,562,000	$ 11,078,000
Long-term Debt			585,000,000		$ 585,000,000
2015 Secured Credit Agreement [Member]
Debt Instrument [Line Items]
Deferred acquisition costs			2,300,000
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]
Letters of credit outstanding			$ 12,800,000
2012 Secured Credit Agreement [Member]
Debt Instrument [Line Items]
Debt issuance costs			800,000
Senior secured credit facility								$ 80,000,000
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			6,000,000
Long-term Debt			$ 360,000,000		360,000,000
9.125% Senior Notes, due April 2018 [Member]
Debt Instrument [Line Items]
Percentage of notes guaranteed by restricted subsidiaries			9.125%
Repayments of long term debt	$ 416,200,000
Term Loan [Member]
Debt Instrument [Line Items]
Increase in the amount of term loan or revolving credit facility		$ 45,000,000
Revolving loan outstanding	$ 40,000,000
Long-term Debt					(10,202,000)			$ 50,000,000
Line of Credit, Current						$ 30,000,000
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	$ 3,800,000
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
Secured Debt [Member] | 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	Mar. 31, 2016	Dec. 31, 2015
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	431,100	417,600
Fair Value [Member] | 6.75% Senior Notes, due July 2022 [Member]
Long-term Debt
Long term debt Fair value	255,600	246,600
Fair Value [Member] | 7.50% Senior Notes, due August 2020 [Member]
Long-term Debt
Long term debt Fair value	$ 175,500	$ 171,000

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Thousands	Mar. 31, 2016USD ($)
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

Recent Accounting Pronounceme42

Recent Accounting Pronouncements Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Dec. 14, 2012
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Long-term Debt	$ 585,000	$ 585,000
Deferred Finance Costs, Gross	$ (9,829)	(10,202)
Term Loan [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Long-term Debt		$ (10,202)	$ 50,000

Parent, Guarantor, Non-Guaran43

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016	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-Guaran44

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Consolidating Condensed Balance Sheet (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements [Line Items]
Revenues	$ 130,503	$ 204,076
Current assets:
Cash and cash equivalents	108,427	113,199	$ 134,294	$ 108,456
Accounts and notes receivable, net	175,382		175,105
Rig materials and supplies	36,508		34,937
Other current assets	24,438		22,405
Total current assets	344,755		366,741
Intangible assets, net (Note 3)	12,220		13,377
Goodwill (Note 3)	6,708		6,708
Property, plant and equipment, net	776,912		805,841
Investment in subsidiaries and intercompany advances	0		0
Other Assets, Miscellaneous, Noncurrent	114,054
Deferred Income Taxes and Other Assets, Noncurrent			174,035
Total assets	1,254,649		1,366,702
Current portion of long-term debt			0
Accounts payable and accrued liabilities	114,993		129,703
Accrued income taxes	5,980		6,418
Liabilities, Current	120,973		136,121
Long-term Debt, Excluding Current Maturities	575,171		574,798
Other long-term liabilities	13,755		18,617
Current liabilities:
Long-term deferred tax liability	71,898		68,654
Total liabilities	781,797		798,190
Total equity	472,852		568,512
Total liabilities and stockholders’ equity	1,254,649		1,366,702
Intercompany Payables	0		0
Common stock	20,604		20,518
Capital in excess of par value	670,245		669,120
Accumulated deficit	(215,073)		(119,238)
Accumulated other comprehensive (loss)	(2,924)		(1,888)
Stockholders' Equity Attributable to Parent	472,852		568,512
Operating expenses	108,117	139,270
Depreciation and amortization	35,814	40,539
Total operating gross margin	(13,428)	24,267
General and Administrative Expense	9,781	10,837
Gain (loss) on disposition of assets, net	(60)	2,441
Operating Income (Loss)	(23,269)	15,871
Interest Expense	11,562	11,078
Interest income	7	183
Other	2,485	(1,380)
Equity in net earnings of subsidiaries	0	0
Nonoperating Income (Expense)	(9,070)	(12,275)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	(32,339)	3,596
Income tax expense (benefit)	63,496	(182)
Deferred Income Tax Expense (Benefit)	(63,411)	(6,304)
Net income (loss)	(95,835)	3,778
Net Income (Loss) Attributable to Noncontrolling Interest	0	556
Net Income (Loss) Attributable to Parent	(95,835)	3,222
Parent [Member]
Condensed Financial Statements [Line Items]
Revenues	0	0
Current assets:
Cash and cash equivalents	45,822	31,704	73,985	36,728
Accounts and notes receivable, net	0		0
Rig materials and supplies	0		0
Other current assets	0		0
Total current assets	45,822		73,985
Intangible assets, net (Note 3)	0		0
Goodwill (Note 3)	0		0
Property, plant and equipment, net	(19)		(19)
Investment in subsidiaries and intercompany advances	3,049,008		3,057,220
Other Assets, Miscellaneous, Noncurrent	(225,185)
Deferred Income Taxes and Other Assets, Noncurrent			(234,786)
Total assets	2,869,626		2,896,400
Current portion of long-term debt			0
Accounts payable and accrued liabilities	104,789		84,456
Accrued income taxes	20,216		9,900
Liabilities, Current	125,005		94,356
Long-term Debt, Excluding Current Maturities	575,171		574,798
Other long-term liabilities	2,868		2,868
Current liabilities:
Long-term deferred tax liability	(29)		(29)
Total liabilities	2,396,812		2,328,961
Total equity	472,814		567,439
Total liabilities and stockholders’ equity	2,869,626		2,896,400
Intercompany Payables	1,693,797		1,656,968
Operating expenses	0	0
Depreciation and amortization	0	0
Total operating gross margin	0	0
General and Administrative Expense	87	112
Gain (loss) on disposition of assets, net	0	0
Operating Income (Loss)	(87)	(112)
Interest Expense	11,857	11,059
Interest income	204	417
Other	0	0
Equity in net earnings of subsidiaries	(16,225)	8,988
Nonoperating Income (Expense)	(27,878)	(1,654)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	(27,965)	(1,766)
Income tax expense (benefit)	67,870	(4,988)
Deferred Income Tax Expense (Benefit)	57,677	(7,932)
Net income (loss)	(95,835)	3,222
Net Income (Loss) Attributable to Noncontrolling Interest	0	0
Net Income (Loss) Attributable to Parent	(95,835)	3,222
Guarantor [Member]
Condensed Financial Statements [Line Items]
Revenues	47,382	79,395
Current assets:
Cash and cash equivalents	13,242	10,944	13,854	13,546
Accounts and notes receivable, net	48,785		42,261
Rig materials and supplies	(3,788)		(4,744)
Other current assets	5,124		5,982
Total current assets	63,363		57,353
Intangible assets, net (Note 3)	11,164		11,740
Goodwill (Note 3)	6,708		6,708
Property, plant and equipment, net	521,959		543,346
Investment in subsidiaries and intercompany advances	2,810,676		2,770,501
Other Assets, Miscellaneous, Noncurrent	277,015
Deferred Income Taxes and Other Assets, Noncurrent			312,790
Total assets	3,690,885		3,702,438
Current portion of long-term debt			0
Accounts payable and accrued liabilities	55,216		56,382
Accrued income taxes	(6,430)		2,111
Liabilities, Current	48,786		58,493
Long-term Debt, Excluding Current Maturities	0		0
Other long-term liabilities	5,867		7,446
Current liabilities:
Long-term deferred tax liability	72,948		69,679
Total liabilities	1,539,886		1,537,128
Total equity	2,150,999		2,165,310
Total liabilities and stockholders’ equity	3,690,885		3,702,438
Intercompany Payables	1,412,285		1,401,510
Operating expenses	32,835	44,145
Depreciation and amortization	23,125	23,311
Total operating gross margin	(8,578)	11,939
General and Administrative Expense	9,613	10,115
Gain (loss) on disposition of assets, net	(56)	52
Operating Income (Loss)	(18,247)	1,876
Interest Expense	437	17
Interest income	179	3
Other	485	10
Equity in net earnings of subsidiaries	0	0
Nonoperating Income (Expense)	227	(4)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	(18,020)	1,872
Income tax expense (benefit)	(3,707)	(447)
Deferred Income Tax Expense (Benefit)	5,185	3,117
Net income (loss)	(14,313)	2,319
Net Income (Loss) Attributable to Noncontrolling Interest	0	0
Net Income (Loss) Attributable to Parent	(14,313)	2,319
Non-Guarantor [Member]
Condensed Financial Statements [Line Items]
Revenues	106,477	150,931
Current assets:
Cash and cash equivalents	49,363	70,551	46,455	58,182
Accounts and notes receivable, net	126,597		132,844
Rig materials and supplies	40,296		39,681
Other current assets	19,314		16,423
Total current assets	235,570		235,403
Intangible assets, net (Note 3)	1,056		1,637
Goodwill (Note 3)	0		0
Property, plant and equipment, net	254,972		262,514
Investment in subsidiaries and intercompany advances	3,439,433		3,319,702
Other Assets, Miscellaneous, Noncurrent	543,011
Deferred Income Taxes and Other Assets, Noncurrent			265,995
Total assets	4,474,042		4,085,251
Current portion of long-term debt			0
Accounts payable and accrued liabilities	572,465		295,439
Accrued income taxes	(7,806)		(5,593)
Liabilities, Current	564,659		289,846
Long-term Debt, Excluding Current Maturities	0		0
Other long-term liabilities	5,020		8,303
Current liabilities:
Long-term deferred tax liability	(1,021)		(996)
Total liabilities	2,531,430		2,161,824
Total equity	1,942,612		1,923,427
Total liabilities and stockholders’ equity	4,474,042		4,085,251
Intercompany Payables	1,962,772		1,864,671
Operating expenses	98,638	121,375
Depreciation and amortization	12,689	17,228
Total operating gross margin	(4,850)	12,328
General and Administrative Expense	81	610
Gain (loss) on disposition of assets, net	(4)	2,389
Operating Income (Loss)	(4,935)	14,107
Interest Expense	2,859	328
Interest income	3,215	89
Other	2,000	(1,390)
Equity in net earnings of subsidiaries	0	0
Nonoperating Income (Expense)	2,356	(1,629)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	(2,579)	12,478
Income tax expense (benefit)	(667)	5,253
Deferred Income Tax Expense (Benefit)	549	(1,489)
Net income (loss)	(1,912)	7,225
Net Income (Loss) Attributable to Noncontrolling Interest	0	556
Net Income (Loss) Attributable to Parent	(1,912)	6,669
Eliminations [Member]
Condensed Financial Statements [Line Items]
Revenues	(23,356)	(26,250)
Current assets:
Cash and cash equivalents	0	0	0	$ 0
Accounts and notes receivable, net	0		0
Rig materials and supplies	0		0
Other current assets	0		0
Total current assets	0		0
Intangible assets, net (Note 3)	0		0
Goodwill (Note 3)	0		0
Property, plant and equipment, net	0		0
Investment in subsidiaries and intercompany advances	(9,299,117)		(9,147,423)
Other Assets, Miscellaneous, Noncurrent	(480,787)
Deferred Income Taxes and Other Assets, Noncurrent			(169,964)
Total assets	(9,779,904)		(9,317,387)
Current portion of long-term debt			0
Accounts payable and accrued liabilities	(617,477)		(306,574)
Accrued income taxes	0		0
Liabilities, Current	(617,477)		(306,574)
Long-term Debt, Excluding Current Maturities	0		0
Other long-term liabilities	0		0
Current liabilities:
Long-term deferred tax liability	0		0
Total liabilities	(5,686,331)		(5,229,723)
Total equity	(4,093,573)		(4,087,664)
Total liabilities and stockholders’ equity	(9,779,904)		(9,317,387)
Intercompany Payables	(5,068,854)		$ (4,923,149)
Operating expenses	(23,356)	(26,250)
Depreciation and amortization	0	0
Total operating gross margin	0	0
General and Administrative Expense	0	0
Gain (loss) on disposition of assets, net	0	0
Operating Income (Loss)	0	0
Interest Expense	(3,591)	(326)
Interest income	(3,591)	(326)
Other	0	0
Equity in net earnings of subsidiaries	16,225	(8,988)
Nonoperating Income (Expense)	16,225	(8,988)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	16,225	(8,988)
Income tax expense (benefit)	0	0
Deferred Income Tax Expense (Benefit)	0	0
Net income (loss)	16,225	(8,988)
Net Income (Loss) Attributable to Noncontrolling Interest	0	0
Net Income (Loss) Attributable to Parent	$ 16,225	$ (8,988)

Parent, Guarantor, Non-Guaran45

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Consolidating Condensed Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Financial Statements [Line Items]
Total revenues	$ 130,503	$ 204,076
Operating expenses	108,117	139,270
Depreciation and amortization	35,814	40,539
Total operating gross margin	(13,428)	24,267
General and administration expense	(9,781)	(10,837)
Gain (loss) on disposition of assets, net	(60)	2,441
Total operating income (loss)	(23,269)	15,871
Other income and (expense):
Interest expense	(11,562)	(11,078)
Interest income	7	183
Other	2,485	(1,380)
Equity in net earnings of subsidiaries	0	0
Total other expense	(9,070)	(12,275)
Income (loss) before income taxes	(32,339)	3,596
Income tax expense (benefit)	63,496	(182)
Deferred Income Tax Expense (Benefit)	(63,411)	(6,304)
Net income (loss)	(95,835)	3,778
Net Income (Loss) Attributable to Noncontrolling Interest	0	556
Net income (loss) attributable to controlling interest	(95,835)	3,222
Parent [Member]
Condensed Financial Statements [Line Items]
Total revenues	0	0
Operating expenses	0	0
Depreciation and amortization	0	0
Total operating gross margin	0	0
General and administration expense	(87)	(112)
Gain (loss) on disposition of assets, net	0	0
Total operating income (loss)	(87)	(112)
Other income and (expense):
Interest expense	(11,857)	(11,059)
Interest income	204	417
Other	0	0
Equity in net earnings of subsidiaries	(16,225)	8,988
Total other expense	(27,878)	(1,654)
Income (loss) before income taxes	(27,965)	(1,766)
Income tax expense (benefit)	67,870	(4,988)
Deferred Income Tax Expense (Benefit)	57,677	(7,932)
Net income (loss)	(95,835)	3,222
Net Income (Loss) Attributable to Noncontrolling Interest	0	0
Net income (loss) attributable to controlling interest	(95,835)	3,222
Guarantor [Member]
Condensed Financial Statements [Line Items]
Total revenues	47,382	79,395
Operating expenses	32,835	44,145
Depreciation and amortization	23,125	23,311
Total operating gross margin	(8,578)	11,939
General and administration expense	(9,613)	(10,115)
Gain (loss) on disposition of assets, net	(56)	52
Total operating income (loss)	(18,247)	1,876
Other income and (expense):
Interest expense	(437)	(17)
Interest income	179	3
Other	485	10
Equity in net earnings of subsidiaries	0	0
Total other expense	227	(4)
Income (loss) before income taxes	(18,020)	1,872
Income tax expense (benefit)	(3,707)	(447)
Deferred Income Tax Expense (Benefit)	5,185	3,117
Net income (loss)	(14,313)	2,319
Net Income (Loss) Attributable to Noncontrolling Interest	0	0
Net income (loss) attributable to controlling interest	(14,313)	2,319
Non-Guarantor [Member]
Condensed Financial Statements [Line Items]
Total revenues	106,477	150,931
Operating expenses	98,638	121,375
Depreciation and amortization	12,689	17,228
Total operating gross margin	(4,850)	12,328
General and administration expense	(81)	(610)
Gain (loss) on disposition of assets, net	(4)	2,389
Total operating income (loss)	(4,935)	14,107
Other income and (expense):
Interest expense	(2,859)	(328)
Interest income	3,215	89
Other	2,000	(1,390)
Equity in net earnings of subsidiaries	0	0
Total other expense	2,356	(1,629)
Income (loss) before income taxes	(2,579)	12,478
Income tax expense (benefit)	(667)	5,253
Deferred Income Tax Expense (Benefit)	549	(1,489)
Net income (loss)	(1,912)	7,225
Net Income (Loss) Attributable to Noncontrolling Interest	0	556
Net income (loss) attributable to controlling interest	(1,912)	6,669
Eliminations [Member]
Condensed Financial Statements [Line Items]
Total revenues	(23,356)	(26,250)
Operating expenses	(23,356)	(26,250)
Depreciation and amortization	0	0
Total operating gross margin	0	0
General and administration expense	0	0
Gain (loss) on disposition of assets, net	0	0
Total operating income (loss)	0	0
Other income and (expense):
Interest expense	3,591	326
Interest income	(3,591)	(326)
Other	0	0
Equity in net earnings of subsidiaries	16,225	(8,988)
Total other expense	16,225	(8,988)
Income (loss) before income taxes	16,225	(8,988)
Income tax expense (benefit)	0	0
Deferred Income Tax Expense (Benefit)	0	0
Net income (loss)	16,225	(8,988)
Net Income (Loss) Attributable to Noncontrolling Interest	0	0
Net income (loss) attributable to controlling interest	$ 16,225	$ (8,988)

Parent, Guarantor, Non-Guaran46

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
	Mar. 31, 2016	Mar. 31, 2015
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	$ (95,835)	$ 3,778
Currency translation difference on related borrowings	502	(1,670)
Currency translation difference on foreign currency net investments	(1,538)	(849)
Total other comprehensive income (loss), net of tax:	(1,036)	(2,519)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(96,871)	865
Comprehensive (loss) attributable to noncontrolling interest	0	(394)
Comprehensive income (loss) attributable to controlling interest	(96,871)	1,259
Parent [Member]
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	(95,835)	3,222
Currency translation difference on related borrowings	0	0
Currency translation difference on foreign currency net investments	0	0
Total other comprehensive income (loss), net of tax:	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(95,835)	3,222
Comprehensive (loss) attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to controlling interest	(95,835)	3,222
Guarantor [Member]
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	(14,313)	2,319
Currency translation difference on related borrowings	0	0
Currency translation difference on foreign currency net investments	0	0
Total other comprehensive income (loss), net of tax:	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(14,313)	2,319
Comprehensive (loss) attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to controlling interest	(14,313)	2,319
Non-Guarantor [Member]
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	(1,912)	7,225
Currency translation difference on related borrowings	502	(1,670)
Currency translation difference on foreign currency net investments	(1,538)	(849)
Total other comprehensive income (loss), net of tax:	(1,036)	(2,519)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(2,948)	4,312
Comprehensive (loss) attributable to noncontrolling interest	0	(394)
Comprehensive income (loss) attributable to controlling interest	(2,948)	4,706
Eliminations [Member]
Schedule of Condensed Statement of Comprehensive Income [Line Items]
Net income (loss)	16,225	(8,988)
Currency translation difference on related borrowings	0	0
Currency translation difference on foreign currency net investments	0	0
Total other comprehensive income (loss), net of tax:	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	16,225	(8,988)
Comprehensive (loss) attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to controlling interest	$ 16,225	$ (8,988)

Parent, Guarantor, Non-Guaran47

Parent, Guarantor, Non-Guarantor Unaudited Consolidating Condensed Financial Statements - Consolidated Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income (loss)	$ (95,835)	$ 3,778
Adjustments to reconcile net income (loss)
Depreciation and amortization	35,814	40,539
Accretion Expense	419	0
(Gain) loss on disposition of assets	60	(2,441)
Deferred income tax expense (benefit)	63,411	6,304
Expenses not requiring cash	(426)	1,737
Equity in net earnings of subsidiaries	0	0
Accounts and notes receivable	(381)	(6,650)
Accrued income taxes	(3,600)	2,614
Other assets	(304)	(20,087)
Accounts payable and accrued liabilities	(14,437)	54,045
Net cash provided by (used in) operating activities	(15,279)	67,231
Cash flows from investing activities:
Capital expenditures	(7,889)	(33,455)
Proceeds from the sale of assets	54	246
Proceeds from insurance settlements	0	2,500
Net cash (used in) investing activities	(7,835)	(30,709)
Cash flows from financing activities:
Repayments of long-term debt		(30,000)
Paydown on term note	0	(30,000)
Payment of debt issuance costs	0	(1,359)
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	(2,000)	0
Excess tax benefit from stock-based compensation	(753)	(420)
Intercompany advances, net	0	0
Net cash (used in) financing activities	(2,753)	(31,779)
Net increase (decrease) in cash and cash equivalents	(25,867)	4,743
Cash and cash equivalents, beginning of year	134,294	108,456
Cash and cash equivalents, end of period	108,427	113,199
Parent [Member]
Cash flows from operating activities:
Net income (loss)	(95,835)	3,222
Adjustments to reconcile net income (loss)
Depreciation and amortization	0	0
Accretion Expense	0
(Gain) loss on disposition of assets	0	0
Deferred income tax expense (benefit)	(57,677)	7,932
Expenses not requiring cash	1,740	2,443
Equity in net earnings of subsidiaries	16,225	(8,988)
Accounts and notes receivable	0	19
Accrued income taxes	10,680	(10,727)
Other assets	(37,191)	25,016
Accounts payable and accrued liabilities	(9,521)	(10,549)
Net cash provided by (used in) operating activities	(56,225)	(7,496)
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:
Repayments of long-term debt		(30,000)
Payment of debt issuance costs		(1,359)
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	0
Excess tax benefit from stock-based compensation	(753)	(420)
Intercompany advances, net	28,815	34,251
Net cash (used in) financing activities	28,062	2,472
Net increase (decrease) in cash and cash equivalents	(28,163)	(5,024)
Cash and cash equivalents, beginning of year	73,985	36,728
Cash and cash equivalents, end of period	45,822	31,704
Guarantor [Member]
Cash flows from operating activities:
Net income (loss)	(14,313)	2,319
Adjustments to reconcile net income (loss)
Depreciation and amortization	23,125	23,311
Accretion Expense	419
(Gain) loss on disposition of assets	56	(52)
Deferred income tax expense (benefit)	(5,185)	(3,117)
Expenses not requiring cash	33	436
Equity in net earnings of subsidiaries	0	0
Accounts and notes receivable	(6,637)	(12,289)
Accrued income taxes	(8,905)	13,922
Other assets	33,904	(41,216)
Accounts payable and accrued liabilities	(799)	47,058
Net cash provided by (used in) operating activities	32,068	36,606
Cash flows from investing activities:
Capital expenditures	(3,521)	(24,418)
Proceeds from the sale of assets	28	50
Proceeds from insurance settlements		0
Net cash (used in) investing activities	(3,493)	(24,368)
Cash flows from financing activities:
Repayments of long-term debt		0
Payment of debt issuance costs		0
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	(2,000)
Excess tax benefit from stock-based compensation	0	0
Intercompany advances, net	(27,187)	(14,840)
Net cash (used in) financing activities	(29,187)	(14,840)
Net increase (decrease) in cash and cash equivalents	(612)	(2,602)
Cash and cash equivalents, beginning of year	13,854	13,546
Cash and cash equivalents, end of period	13,242	10,944
Non-Guarantor [Member]
Cash flows from operating activities:
Net income (loss)	(1,912)	7,225
Adjustments to reconcile net income (loss)
Depreciation and amortization	12,689	17,228
Accretion Expense	0
(Gain) loss on disposition of assets	4	(2,389)
Deferred income tax expense (benefit)	(549)	1,489
Expenses not requiring cash	(2,199)	(1,142)
Equity in net earnings of subsidiaries	0	0
Accounts and notes receivable	6,256	5,620
Accrued income taxes	(5,375)	(581)
Other assets	2,983	(3,887)
Accounts payable and accrued liabilities	(4,117)	17,536
Net cash provided by (used in) operating activities	8,878	38,121
Cash flows from investing activities:
Capital expenditures	(4,368)	(9,037)
Proceeds from the sale of assets	26	196
Proceeds from insurance settlements		2,500
Net cash (used in) investing activities	(4,342)	(6,341)
Cash flows from financing activities:
Repayments of long-term debt		0
Payment of debt issuance costs		0
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	0
Excess tax benefit from stock-based compensation	0	0
Intercompany advances, net	(1,628)	(19,411)
Net cash (used in) financing activities	(1,628)	(19,411)
Net increase (decrease) in cash and cash equivalents	2,908	12,369
Cash and cash equivalents, beginning of year	46,455	58,182
Cash and cash equivalents, end of period	49,363	70,551
Eliminations [Member]
Cash flows from operating activities:
Net income (loss)	16,225	(8,988)
Adjustments to reconcile net income (loss)
Depreciation and amortization	0	0
Accretion Expense	0
(Gain) loss on disposition of assets	0	0
Deferred income tax expense (benefit)	0	0
Expenses not requiring cash	0	0
Equity in net earnings of subsidiaries	(16,225)	8,988
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 (used in) 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:
Repayments of long-term debt		0
Payment of debt issuance costs		0
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	0
Excess tax benefit from stock-based compensation	0	0
Intercompany advances, net	0	0
Net cash (used in) financing activities	0	0
Net increase (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