Superior Energy Services 10-Q 4 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Superior Energy Services Inc
Entity Central Index Key	886,835
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		150,745,672
Entity Well-known Seasoned Issuer	Yes
Trading Symbol	spn
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 500,262	$ 393,046
Accounts receivable, net of allowance for doubtful accounts of $22,748 and $22,076 at June 30, 2015 and December 31, 2014, respectively	570,528	926,768
Deferred Tax Assets, Net, Current	26,387	32,138
Prepaid expenses	62,107	74,750
Inventory and other current assets	192,930	185,429
Assets of Disposal Group, Including Discontinued Operation, Current	131,582	116,680
Total current assets	1,483,796	1,728,811
Property, plant and equipment, net of accumulated depreciation and depletion of $2,245,051 and $2,269,542 at June 30, 2015 and December 31, 2014, respectively	2,461,629	2,733,839
Goodwill	1,892,377	2,468,409
Notes receivable	26,811	25,970
Intangible and other long-term assets, net of accumulated amortization of $80,486 and $81,386 at June 30, 2015 and December 31, 2014, respectively	350,974	420,360
Total assets	6,215,587	7,377,389
Current liabilities:
Accounts payable	134,681	225,306
Accrued expenses	305,622	363,747
Income taxes payable	7,501	40,213
Current maturities of long-term debt	26,279	20,941
Total current liabilities	484,815	712,047
Disposal Group, Including Discontinued Operation, Liabilities	10,732	61,840
Deferred income taxes	559,516	702,996
Decommissioning liabilities	93,076	88,000
Long-term debt, net	1,618,686	1,627,842
Other long-term liabilities	$ 173,922	$ 166,766
Stockholders' equity:
Preferred stock of $0.01 par value. Authorized, 5,000,000 shares; none issued
Common stock of $0.001 par value. Authorized - 250,000,000, Issued and Outstanding - 150,749,697 as of June 30, 2015 Authorized - 250,000,000, Issued - 149,648,826, Outstanding, 149,708,825 at December 31, 2014	$ 151	$ 150
Additional Paid in Capital	2,647,272	2,620,328
Accumulated other comprehensive loss, net	(36,725)	(36,280)
Retained earnings	674,874	1,495,540
Total stockholders' equity	3,285,572	4,079,738
Total liabilities and stockholders' equity	$ 6,215,587	$ 7,377,389

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Consolidated Balance Sheets [Abstract]
Allowance for doubtful accounts	$ 22,748	$ 22,076
Accumulated depreciation and depletion on Property, plant and equipment	2,245,051	2,269,542
Accumulated amortization of Intangible and other long-term assets	$ 80,486	$ 81,386
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	150,749,697	149,648,826
Common stock, shares outstanding	150,749,697	149,708,825

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Consolidated Statements of Operations [Abstract]
Services	$ 534,959	$ 836,666	$ 1,220,423	$ 1,639,005
Rentals	175,825	270,886	407,596	529,965
Total Revenues	710,784	1,107,552	1,628,019	2,168,970
Costs and expenses:
Cost of services (exclusive of items shown separately below)	465,533	650,293	1,047,779	1,301,898
Cost of Services	387,565	552,411	869,558	1,106,173
Cost of rentals	77,968	97,882	178,221	195,725
Depreciation, depletion, amortization and accretion	158,352	160,965	320,572	323,283
General and administrative expenses	129,661	146,853	280,623	302,772
Reduction in value of assets	807,637		807,637
Income from operations	(850,399)	149,441	(828,592)	241,017
Other income (expense):
Interest expense, net	(25,382)	(24,560)	(48,591)	(48,441)
Other Nonoperating Income (Expense)	(6,524)	606	(7,495)	571
Income from continuing operations before income taxes	(882,305)	125,487	(884,678)	193,147
Income taxes	(107,173)	46,430	(108,051)	71,464
Net income (loss) from continuing operations	(775,132)	79,057	(776,627)	121,683
Income (loss) from discontinued operations, net of tax	(9,857)	(3,895)	(19,497)	(9,849)
Net income	$ (784,989)	$ 75,162	$ (796,124)	$ 111,834
Earnings per share information:
Continuing operations	$ (5.15)	$ 0.51	$ (5.17)	$ 0.77
Discontinued operations	(0.07)	(0.03)	(0.13)	(0.06)
Basic earnings per share	(5.22)	0.48	(5.30)	0.71
Continuing operations	(5.15)	0.50	(5.17)	0.76
Discontinued operations	(0.07)	(0.03)	(0.13)	(0.06)
Diluted earnings per share	(5.22)	0.47	(5.30)	0.70
Common Stock, Dividends, Per Share, Cash Paid	$ 0.08	$ 0.08	$ 0.16	$ 0.16
Weighted average common shares used in computing earnings per share:
Basic	150,485	156,399	150,196	157,302
Incremental common shares from stock based compensation		2,702		2,692
Diluted	150,485	159,101	150,196	159,994

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Consolidated Statement of Comprehensive Income [Abstract]
Net income	$ (784,989)	$ 75,162	$ (796,124)	$ 111,834
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax		1,089		1,153
Change in cumulative translation adjustment	14,234	4,392	(445)	5,719
Comprehensive income	$ (770,755)	$ 80,643	$ (796,569)	$ 118,706

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ (796,124)	$ 111,834
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	320,572	324,671
Deferred income taxes	(140,031)	(10,769)
Reduction in value of assets including discontinued operations	807,637
Stock based and performance share unit compensation expense	24,943	22,118
Amortization of debt acquisition costs and note discount	3,881	4,113
Other reconciling items, net	(243)	(20,047)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	349,926	(30,287)
Inventory and other current assets	5,273	17,041
Accounts payable	(85,195)	6,367
Accrued expenses	(69,908)	(7,570)
Income taxes	(33,280)	28,014
Other, net	46,065	(5,740)
Net Cash Provided by (Used in) Operating Activities, Total	433,516	439,745
Cash flows from investing activities:
Payments for capital expenditures	(240,305)	(315,233)
Purchase of Leased Vessel	46,442
Proceeds from Sale of Available-for-sale Securities, Equity		10,622
Other	(2,909)	9,865
Net Cash Provided by (Used in) Investing Activities, Total	(289,656)	(294,746)
Cash flows from financing activities:
Payment to Extinguish Capital Lease Obligation	20,933
Proceeds from issuance of long-term debt	6,946
Principal payments of long-term debt	(10,483)	(10,000)
Payments of Ordinary Dividends, Common Stock	24,021	25,216
Proceeds from exercise of stock options	8,800	10,328
Payments for purchase and retirement of Common Stock		(116,539)
Other	(3,718)	739
Net Cash Provided by (Used in) Financing Activities, Total	(43,409)	(140,688)
Payments on revolving line of credit	7,475	7,562
Proceeds From Revolving Line Of Credit	7,475	7,562
Effect of exchange rate changes on cash	6,765	1,295
Net increase in cash and cash equivalents	107,216	5,606
Cash and cash equivalents at beginning of period	393,046	196,047
Cash and cash equivalents at end of period	$ 500,262	$ 201,653

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Basis of Presentation [Abstract]
Basis of Presentation	(1) Basis of Presentation Certain information and footnote disclosures normally in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission; however, management believes the disclosures that are made are adequate to make the information presented not misleading. These financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in Superior Energy Services, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2014 , and Management’s Discussion and Analysis of Financial Condition and Results of Operations herein. The financial information of Superior Energy Services, Inc. and subsidiaries (the Company) for the three and six months ended June 30, 2015 and 2014 has not been audited. However, in the opinion of management, all adjustments necessary to present fairly the results of operations for the periods presented have been included therein. Certain previously reported amounts have been reclassified to conform to the 2015 presentation. The results of operations for the first six months of the year are not necessarily indicative of the results of operations that might be expected for the entire year. Due to the nature of the Company’s business, the Company is involved, from time to time, in routine litigation or subject to disputes or claims regarding its business activities. Legal costs related to these matters are expensed as incurred. In management’s opinion, none of the pending litigation, disputes or claims is expected to have a material adverse effect on the Company’s financial condition, results of operations or liquidity. The Company evaluates events that occur after the balance sheet date but before the financial statements are issued for potential recognition or disclosure. Based on the evaluation, the Company determined that there were no material subsequent events for recognition or disclosure other than those disclosed herein.

Reduction in Value of Assets

Reduction in Value of Assets	6 Months Ended
	Jun. 30, 2015
Reduction in Value of Assets [Abstract]
Reduction in Value of Assets [Text Block]	(2) Reduction in Value of Assets Since late 2014, oil and gas prices have declined significantly to their lowest levels since 2009. As a result of the reduced price of oil and gas and the subsequent downturn in the oil and gas industry, the Company has experienced a decline in demand for most of its services in the U.S. land businesses, primarily in the Production Services and Onshore Completion and Workover Services segments. For the quarter ended June 30, 2015, the Company recorded $807.6 million in expense related to reduction in value of assets. The components of reduction in value of assets are as follows (in thousands): Reduction in value of goodwill $ Reduction in value of long-lived assets Retirements of long-lived assets Reduction in value of assets related to sale of a business Total reduction in value of assets $ Reduction in Value of Goodwill Goodwill is tested for impairment annually as of October 1 or on an interim basis if events or circumstances indicate that the fair value of the asset has decreased below its carrying value. The Company completed a qualitative analysis of its goodwill as of June 30, 2015 and determined that further testing of the Production Services segment’s goodwill was necessary. Due to the downturn in the oil and gas industry and the impact it has had on activity levels for oilfield services, the Company’s goodwill impairment evaluation indicated that the carrying value of the Production Services segment exceeded its fair value so that goodwill was potentially impaired. The Company then performed the second step of the goodwill impairment test, which involved calculating the implied fair value of its goodwill by allocating the fair value of the Production Services segment to all of the assets and liabilities (other than goodwill) and comparing it to the carrying amount of goodwill. To estimate the fair value of the reporting unit (which is consistent with the reported business segments), the Company used a weighting of the discounted cash flow method and the public company guideline method of determining fair value of the reporting unit. The Company weighted the discounted cash flow method 80% and the public company guideline method 20% due to differences between the Company’s reporting unit and peer companies’ size, profitability and diversity of operations. The Company determined that the implied fair value of its goodwill for the Production Services segment was less than its carrying value and recorded a $575.4 million impairment of the Production Services segment’s goodwill, which is included in the reduction in value of assets in the consolidated statement of operations. The reduction in value of goodwill in the Production Services segment was primarily driven by the continued decline in demand for coiled tubing services. During the second quarter of 2015, the demand for coiled tubing services continued to decline and the Company’s forecast did not indicate a timely recovery sufficient to support the carrying value of the goodwill. Reduction in Value of Long-Lived Assets Long-lived assets, such as property, plant and equipment and purchased intangibles subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of assets to be held and used is assessed by a comparison of the carrying amount of such assets to their fair value calculated, in part, by the estimated undiscounted future cash flows expected to be generated by the assets. Cash flow estimates are based upon, among other things, historical results adjusted to reflect the best estimate of future market rates, utilization levels, and operating performance. Estimates of cash flows may differ from actual cash flows due to, among other things, changes in economic conditions or changes in an asset’s operating performance. The Company’s assets are grouped by subsidiary or division for the impairment testing, which represent the lowest level of identifiable cash flows. If the asset grouping’s fair value is less than the carrying amount of those items, impairment losses are recorded in the amount by which the carrying amount of such assets exceeds the fair value. The estimate of fair value represents the Company’s best estimate based on industry trends and reference to market transactions and is subject to variability. During the second quarter of 2015, the Company recorded $150.3 million in expense in connection with the reduction in value of its long-lived assets. The reduction in value of assets expense was comprised of $78.5 million related to equipment and $43.1 million related to intangibles in the coiled tubing division within the Production Services segment and $12.9 million related to mechanical drilling rigs included in the Onshore Completion and Workover Services segment. In addition, the Company recorded a $15.8 million expense related to reduction in carrying values of certain international accommodation units included in the Drilling Products and Services segment. The reduction in value of assets in the Production Services segment was primarily driven by the decline in demand for coiled tubing services. During the second quarter of 2015, the demand for these services continued to decline and the Company’s forecast did not indicate a timely recovery sufficient to support the carrying values of these assets. The reduction in value of assets in the Onshore Completion and Workover Services segment related to the reduction in carrying values of the mechanical drilling rigs, primarily as a result of the decreased demand for certain mechanical drilling rigs driven by the downturn in the oil and gas market. The reduction in value of assets in the Drilling Products and Services segment related to certain international accommodation units primarily driven by the decrease in demand for the rental of accommodation units and a decrease in the Company’s forecast for future rentals of these units. Retirements of Long-Lived Assets During the second quarter of 2015, the Company recorded $42.5 million for retirement and abandonment of inoperable and/or functionally obsolete long-lived assets that would require a significant cost to refurbish. The total amount recorded includes $27.3 million for the Onshore Completion and Workover Services segment and $15.2 million for the Production Services segment. Reduction in Value of Assets Related to Sale of Coiled Tubing Business in Mexico During the second quarter of 2015, the Company sold its Mexico based coiled tubing business and related asse ts . The Company received proceeds in the form of cash and a note receivable. The Company recorded a full valuation allowance on the note receivable in the amount of $ 16.8 million because its collectability was not reasonably assured. In connection with the sale, the Company recorded a $39.4 million reduction in value of assets, primarily related to property, plant and equipment and intangible assets.

Dispositions

Dispositions	6 Months Ended
	Jun. 30, 2015
Dispositions [Abstract]
Dispositions	(3) Discontinued Operations During 2014, the Company conducted a strategic review and analysis of its subsea construction business. As of June 30, 2015, the Company was committed to sell the remaining assets of and exit its subsea construction business. The disposition of the remaining assets of this business is expected to be completed during 2015. During 2014, the Company also made a decision to discontinue its conventional decommissioning business. As of June 30, 2015, the Company was committed to sell the assets of and exit its conventional decommissioning business. The disposition of the assets of this business is expected to be completed during 2015. Both of the subsea construction business and conventional decommissioning business were included in the Technical Solutions segment. As of June 30, 2015 , the assets and liabilities of these businesses were classified as held for sale. For the three and six months ended June 30, 2015 and 2014 , the results of operations of these businesses are reported as discontinued operations in the consolidated statements of operations . The following summarizes certain financial information of the businesses reported as discontinued operations (in thousands): Three Months Ended June 30, 2015 2014 Revenues $ $ Loss from discontinued operations, net of tax benefit of $343 and $3,311, respectively Six Months Ended June 30, 2015 2014 Revenues $ $ Loss from discontinued operations, net of tax benefit of $1,716 and $6,068, respectively $ $ The following summarizes the assets and liabilities related to the businesses reported as discontinued operations (in thousands): June 30, 2015 December 31, 2014 Accounts receivable, net $ $ Prepaid expenses Inventory and other current assets Current assets $ $ Property, plant and equipment, net Intangible and other long-term assets, net - Long-term assets $ $ Accounts payable Accrued expenses Current liabilities $ $ Other long-term liabilities $ - $ During 2015, the Company spent $67.4 million to purchase two leased vessels. The purchase price for one of the vessels included the extinguishment of the related capital lease obligation of $20.9 million. These purchases were made to eliminate lease payments and facilitate the disposition of the vessels. During the second quarter of 2015, the Company recorded a $ 15.5 million reduction in value of marine vessels.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings per Share	(4) Earnings per Share Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional common shares that could have been outstanding assuming the exercise of stock options and the conversion of restricted stock units. For the three and six months ended June 30, 2015, the Company incurred a loss from continuing operations; therefore, the impact of any incremental shares would be anti-dilutive. Stock options for approximately 550,000 shares of the Company’s common stock for the three months ended June 30, 2014 and approximately 1,220,000 shares of the Company’s common stock for the six months ended June 30, 2014 were excluded in the computation of diluted earnings per share for the period as the effect would have been anti-dilutive.

Stock Based Compensation Plans

Stock Based Compensation Plans	6 Months Ended
	Jun. 30, 2015
Stock Based Compensation Plans [Abstract]
Stock Based Compensation Plans	(5) Stock-Based Compensation Plans The Company maintains various stock incentive plans that provide long-term incentives to the Company’s key employees, including officers, directors, consultants and advisors (Eligible Participants). Under the stock incentive plans, the Company may grant incentive stock options, non-qualified stock options, restricted stock, restricted stock units, stock appreciation rights, other stock-based awards or any combination thereof to Eligible Participants. The Company’s total compensation expense related to these plans was approximately $ 24.5 million and $ 22.6 million for the six months ended June 30, 2015 and 2014 , respectively, which is reflected in general and administrative expenses.

Inventory and Other Current Ass

Inventory and Other Current Assets	6 Months Ended
	Jun. 30, 2015
Inventory and Other Current Assets [Abstract]
Inventory and Other Current Assets	(6) Inventory and Other Current Assets Inventory and other current assets includes approximately $174.1 million and $165.6 million of inventory as of June 30, 2015 and December 31, 2014 , respectively. Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out or weighted-average cost methods for finished goods and work-in-process. Supplies and consumables consist principally of products used in our services provided to customers. The components of the inventory balances are as follows (in thousands): June 30, 2015 December 31, 2014 Finished goods $ $ Raw materials Work-in-process Supplies and consumables Total $ $

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt [Abstract]
Debt	(7) Debt Credit Facility The Company has a $ 1.0 billion bank credit facility, comprised of a $ 600 million revolving credit facility and a $ 400 million term loan. The principal balance of the term loan is payable in installments of $ 5.0 million on the last day of each fiscal quarter, which began on June 30, 2012. As of June 30, 2015 , the Company had $335 million outstanding under the term loan and had no amounts outstanding under the revolving portion of its credit facility. The Company also had approximately $ 43.2 million of letters of credit outstanding that reduce the Company’s borrowing availability under the revolving portion of the credit facility. Any amounts outstanding under the bank credit facility are due on February 7, 2017. Amounts borrowed under the credit facility bear interest at LIBOR plus margins that depend on the Company’s credit rating. Senior Unsecured Notes The Company has outstanding $ 500 million of 6 3/8% unsecured senior notes due 2019. The indenture governing the 6 3/8% senior notes requires semi-annual interest payments on May 1 and November 1 of each year through the maturity date of May 1, 2019. The Company also has outstanding $ 800 million of 7 1/8% unsecured senior notes due 2021. The indenture governing the 7 1/8% senior notes requires semi-annual interest payments on June 15 and December 15 of each year through the maturity date of December 15, 2021.

Decommissioning Liabilities

Decommissioning Liabilities	6 Months Ended
	Jun. 30, 2015
Decommissioning Liabilities [Abstract]
Decommissioning Liabilities	(8) Decommissioning Liabilities The Company records estimated future decommissioning liabilities in accordance with the authoritative guidance related to asset retirement obligations, which requires entities to record the fair value of a liability for an asset retirement obligation in the period in which it is incurred, with a corresponding increase in the carrying amount of the related long-lived asset. Subsequent to initial measurement, the decommissioning liability is required to be accreted each period to present value. The Company’s decommissioning liabilities associated with the Bullwinkle platform and its related assets consist of costs related to the plugging of wells, the removal of the related platform and equipment, and site restoration. The Company reviews the adequacy of its decommissioning liabilities whenever indicators suggest that the estimated cash flows needed to satisfy the liabilities have changed materially. The following table summarizes the activity for the Company’s decommissioning liabilities for the six months ended June 30, 2015 and 2014 (in thousands): Six Months Ended June 30, 2015 2014 Decommissioning liabilities, December 31, 2014 and 2013, respectively $ $ Liabilities acquired and incurred Accretion Revisions in estimated timing and cash flows Total decommissioning liabilities, June 30, 2015 and 2014, respectively $ $

Notes Receivable

Notes Receivable	6 Months Ended
	Jun. 30, 2015
Notes Receivable [Abstract]
Notes Receivable	(9) Notes Receivable Notes receivable consist of a commitment from the seller of an oil and gas property acquired by the Company towards costs associated with the abandonment of the acquired property. Pursuant to an agreement with the seller, the Company will invoice the seller an agreed upon amount at the completion of certain decommissioning activities. The gross amount of this obligation totals $ 115.0 million and is recorded at present value using an effective interest rate of 6.58 %. The related discount is amortized to interest income based on the expected timing of completion of the decommissioning activities. The Company recorded interest income related to notes receivable of $ 0.8 million for the six months ended June 30, 2015 and 2014 .

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Information [Abstract]
Segment Information	(10) Segment Information Business Segments The Drilling Products and Services segment rents and sells bottom hole assemblies, premium drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, completion, production and workover activities. It also provides on-site accommodations and bolting and machining services. The Onshore Completion and Workover Services segment provides pressure pumping services used to complete and stimulate production in new oil and gas wells, fluid handling services and well servicing rigs that provide a variety of well completion, workover and maintenance services. The Production Services segment provides intervention services such as coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, production testing and optimization, and remedial pumping services. It also provides specialized pressure control tools used to manage and control pressure throughout the life of a well. The Technical Solutions segment provides services typically requiring specialized engineering, manufacturing or project planning, including well control services, well containment systems, stimulation and sand control services and well plug and abandonment services. It also includes production handling arrangements and the production and sale of oil and gas. For the three and six months ended June 30, 2015 and 2014 , operating results for the Company’s subsea construction and conventional decommissioning businesses are reported in discontinued operations (see note 3). Previously those operating results were reported within the Technical Solutions segment. The Company evaluates the performance of its reportable segments based on income or loss from operations. The segment measure is calculated as follows: segment revenues less segment operating expenses, depreciation expense and allocated general and administrative expenses. General and administrative expenses are allocated to the segments based primarily on specific identification and, to the extent that such identification is not practical, other methods which the Company believes to be a reasonable reflection of the utilization of services provided. The Company believes this segment measure is useful in evaluating the performance of its reportable segments because it highlights operating trends and aids analytical comparisons. Summarized financial information for the Company’s segments for the three and six months ended June 30, 2015 and 2014 is shown in the following tables (in thousands): Three Months Ended June 30, 2015 Onshore Drilling Completion Products and and Workover Production Technical Consolidated Services Services Services Solutions Unallocated Total Revenues $ $ $ $ $ - $ Cost of services and rentals (exclusive of items shown separately below) - Depreciation, depletion, amortization and accretion - General and administrative expenses - Reduction in value of assets - - Income (loss) from operations - Interest expense, net - - Other expense - - - - Income (loss) from continuing operations before income taxes $ $ $ $ $ $ Three Months Ended June 30, 2014 Onshore Drilling Completion Products and and Workover Production Technical Consolidated Services Services Services Solutions Unallocated Total Revenues $ $ $ $ $ - $ Cost of services and rentals (exclusive of items shown separately below) - Depreciation, depletion, amortization and accretion - General and administrative expenses - Income from operations - Interest expense, net - - - Other expense - - - - Income (loss) from continuing operations before income taxes $ $ $ $ $ $ Six Months Ended June 30, 2015 Onshore Drilling Completion Products and and Workover Production Technical Consolidated Services Services Services Solutions Unallocated Total Revenues $ $ $ $ $ - $ Cost of services and rentals (exclusive of items shown separately below) - Depreciation, depletion, amortization and accretion - General and administrative expenses - Reduction in value of assets - - Income (loss) from operations - Interest expense, net - - Other expense - - - - Income (loss) from continuing operations before income taxes $ $ $ $ $ $ Six Months Ended June 30, 2014 Onshore Drilling Completion Products and and Workover Production Technical Consolidated Services Services Services Solutions Unallocated Total Revenues $ $ $ $ $ - $ Cost of services and rentals (exclusive of items shown separately below) - Depreciation, depletion, amortization and accretion - General and administrative expenses - Income from operations - Interest expense, net - - - Other income (expense) - - - - Income (loss) from continuing operations before income taxes $ $ $ $ $ $ Identifiable Assets Onshore Drilling Completion Products and and Workover Production Technical Consolidated Services Services Services Solutions Unallocated Total June 30, 2015 $ $ $ $ $ - $ December 31, 2014 $ $ $ $ $ - $ As of June 30, 2015 and December 31, 2014, the Technical Solutions segment included $131.6 million and $ 116.7 million, respectively, of identifiable assets of the subsea construction and conventional decommissioning businesses that were classified as assets held for sale on the consolidated balance sheets. Geographic Segments The Company attributes revenue to various countries based on the location of where services are performed or the destination of the drilling products or equipment sold or rented. Long-lived assets consist primarily of property, plant and equipment and are attributed to various countries based on the physical location of the asset at the end of a period. As of June 30, 2015 and December 31, 2014, the assets of the subsea construction and conventional decommissioning businesses are classified as assets held for sale on the consolidated balance sheets. The Company’s revenue by geographic area for the three and six months ended June 30, 2015 and 2014 and long-lived assets by geographic area as of June 30, 2015 and December 31, 2014 are as follows (in thousands): Revenues Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 United States $ $ $ $ Other Countries Total $ $ $ $ Long-Lived Assets June 30, 2015 December 31, 2014 United States $ $ Other Countries Total, net $ $

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	(11) Fair Value Measurements The Company follows the authoritative guidance for fair value measurements relating to financial and nonfinancial assets and liabilities, including presentation of required disclosures herein. This guidance establishes a fair value framework requiring the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets and liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: Level 1 : Unadjusted quoted prices in active markets for identical assets and liabilities. Level 2 : Observable inputs other than those included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical assets or liabilities in inactive markets; or model-derived valuations or other inputs that can be corroborated by observable market data. Level 3 : Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability. The following tables provide a summary of the financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 (in thousands): Fair Value Measurements at Reporting Date Using June 30, 2015 Level 1 Level 2 Level 3 Intangible and other long-term assets, net Non-qualified deferred compensation assets $ $ $ - Interest rate swaps $ - $ - Accounts payable Non-qualified deferred compensation liabilities $ - $ - Other long-term liabilities Non-qualified deferred compensation liabilities $ - $ - December 31, 2014 Level 1 Level 2 Level 3 Intangible and other long-term assets, net Non-qualified deferred compensation assets $ $ $ - Interest rate swaps $ - $ - Accounts payable Non-qualified deferred compensation liabilities $ - $ - Other long-term liabilities Non-qualified deferred compensation liabilities $ - $ - The Company’s non-qualified deferred compensation plans allow officers, certain highly compensated employees and non-employee directors to defer receipt of a portion of their compensation and contribute such amounts to one or more hypothetical investment funds. The Company entered into separate trust agreements, subject to general creditors, to segregate assets of each plan and reports the accounts of the trusts in its condensed consolidated financial statements. These investments are reported at fair value based on unadjusted quoted prices in active markets for identifiable assets and observable inputs for similar assets and liabilities, which represent Levels 1 and 2, respectively, in the fair value hierarchy. The Company has three interest rate swap agreements related to its fixed rate debt maturing in 2021 for notional amounts of $ 100 million each, whereby the Company is entitled to receive semi-annual interest payments at a fixed rate of 7 1/8% per annum and is obligated to make semi-annual interest payments at floating rates, which are adjusted every 90 days, based on LIBOR plus a fixed margin. The swap agreements, scheduled to terminate on December 15, 2021, are designated as fair value hedges of a portion of the Company’s 7 1/8% senior notes, as the derivatives have been tested to be highly effective in offsetting changes in the fair value of the underlying notes. As these derivatives are classified as fair value hedges, the changes in the fair value of the derivatives are offset against the changes in the fair value of the underlying note in interest expense, net (see note 12). The fair value of the Company’s cash equivalents, accounts receivable and current maturities of long-term debt approximates their carrying amounts. The fair value of the Company’s long-term debt was approximately $ 1, 714.8 million and $ 1,624.3 million as of June 30, 2015 and December 31, 2014 , respectively. The fair value of these debt instruments is determined by reference to the market value of the instruments as quoted in over-the-counter markets, which are Level 1 inputs. The following table reflects the fair value measurements used in testing the impairment of long-lived assets and goodwill during the six months ended June 30, 2015 (in thousands): Fair Value Measurements at Reporting Date Using June 30, 2015 (Level 1) (Level 2) (Level 3) Total Losses Property, plant and equipment, net $ $ - $ - $ $ Goodwill $ - - $ $ Intangible assets $ $ - $ - $ $ See note 2 for a discussion of reduction in value of assets expense recorded during the second quarter of 2015.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2015
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	(12) Derivative Financial Instruments From time to time, the Company may employ interest rate swaps in an attempt to achieve a more balanced debt portfolio between fixed and variable interest. The Company does not use derivative financial instruments for trading or speculative purposes. The Company has three interest rate swaps for notional amounts of $100 million each related to its 7 1/8% senior notes maturing in December 2021. These interest rate swaps are accounted for as fair value hedges since the swaps hedge against the change in fair value of fixed rate debt resulting from changes in interest rates. The Company recorded a derivative asset relating to these swaps of $4.9 million and $4.2 million within intangible and other long term assets in the consolidated balance sheets as of June 30, 2015 and December 31, 2014 , respectively . The changes in fair value of the interest rate swaps are included in the adjustments to reconcile net income to net cash provided by operating activities in the consolidated statement of cash flows. The location and effect of the derivative instruments on the condensed consolidated statement of operations, presented on a pre-tax basis, are as follows (in thousands): Three Months Ended June 30, Effect of derivative instrument Location of (gain) loss recognized 2015 2014 Interest rate swap Interest expense, net $ $ Hedged item - debt Interest expense, net $ $ Six Months Ended June 30, Effect of derivative instrument Location of (gain) loss recognized 2015 2014 Interest rate swap Interest expense, net $ $ Hedged item - debt Interest expense, net $ $ For the six months ended June 30, 2015 and 2014 , approximately $ 0.7 million and $ 1.6 million of interest income, respectively, was related to the ineffectiveness associated with these fair value hedges. Hedge ineffectiveness represents the difference between the changes in fair value of the derivative instruments and the changes in fair value of the fixed rate debt attributable to changes in the benchmark interest rate.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Taxes [Abstract]
Income Taxes	(13) Income Taxes The Company follows authoritative guidance with respect to accounting for uncertainty in income taxes. It is the Company’s policy to recognize interest and applicable penalties, if any, related to uncertain tax positions in income tax expense. The Company had approximately $35.7 million and $ 30.3 million of unrecorded tax benefits as of June 30, 2015 and December 31, 2014 , respectively , all of which would impact the Company’s effective tax rate if recognized. The increase in the unrecognized tax benefits during the second quarter of 2015 was due to an expectation of unfavorable results in an ongoing foreign audit.

Related Party Disclosures

Related Party Disclosures	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Disclosures	(14) Related Party Disclosures During 2014, the Company purchased services, products and equipment, as well as leased certain facilities, from companies affiliated with a former officer, who retired during the first quarter of 2015, of one of its subsidiaries. The Company believes the transactions reflected below with these related parties were on terms and conditions no less favorable to the Company than transactions with unaffiliated parties. For the six months ended June 30, 2014, these related party transactions totaled $85.2 million, of which $38.7 million was purchased from ORTEQ Energy Services , $0.6 million was purchased from Ortowski Construction, $5.6 million was paid to Resource Transport, LLC, $26.8 million was purchased from Texas Specialty Sands, LLC, $12.2 million was purchased from ProFuel, LLC and $1.3 million was related to facilities leased from Timber Creek Real Estate Partners. As of December 31, 2014 , the Company’s trade accounts payable includes amounts due to these companies totaling $26.8 million, of which $10.1 million was due ORTEQ Energy Services, $1.7 million was due Resource Transport, LLC, $14.0 million was due Texas Specialty Sands, LLC, and $1.0 million was due ProFuel, LLC. No amount was due Timber Creek Real Estate Partners. The Company’s President and Chief Executive Officer serves as an independent director of the board of Linn Energy, LLC (Linn), an independent oil and gas development company with focus areas in the Rockies, Mid-Continent, the Hugoton Basin, California, the Permian Basin, Michigan, Illinois and east Texas. The Company recorded revenues from Linn and its subsidiaries of $4.2 million and $10.9 million for the six months ended June 30, 2015 and 2014 , respectively. The Company had trade receivables from Linn and its subsidiaries of $1.0 million and $1.6 million as of June 30, 2015 and December 31, 2014 , respectively.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles
Recently Issued Accounting Pronouncements, Policy [Policy Text Block]	(15) Recently Issued Accounting Pronouncements In July 2015, the Financial Accounting Standards Board issued ASU No. 2015-11, Inventory – Simplifying the Measurement of Inventory , which applies to inventory measured using first-in, first-out or average cost. The guidance in this update states that inventory within scope shall be measured at the lower of cost or net realizable value, and when the net realizable value of inventory is lower than its cost, the difference shall be recognized as a loss in earnings. The new standard is effective for the Company beginning on January 1, 2017 and should be applied on a prospective basis. The Company is evaluating the effect that ASU 2015-11 will have on its consolidated financial statements and related disclosures. In April 2015, the Financial Accounting Standards Board issued ASU No. 2015-03, Interest – Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs , which changes the presentation of debt issuance costs. The guidance in this update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The new standard is effective for the Company on January 1, 2016 and should be applied on a retrospective basis. The ASU is not expected to have a significant impact on the Company’s financial statements. In May 2014, the Financial Accounting Standards Board issued ASU No. 2014-09, Revenue from Contracts with Customers , which will replace most existing revenue recognition guidance in GAAP. The guidance in this update requires an entity to recognize the amount of revenue that it expects to be entitled for the transfer of promised goods or services to customers. The new standard is effective for the Company on January 1, 2018. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the accounting guidance on its ongoing financial reporting.

Reduction in Value of Assets (T

Reduction in Value of Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Reduction in Value of Assets [Abstract]
Reduction in Value of Assets [Table Text Block]	Reduction in value of goodwill $ Reduction in value of long-lived assets Retirements of long-lived assets Reduction in value of assets related to sale of a business Total reduction in value of assets $

Dispositions (Tables)

Dispositions (Tables)	6 Months Ended
	Jun. 30, 2015
Dispositions [Abstract]
Components of income (loss) from discontinued operations	Three Months Ended June 30, 2015 2014 Revenues $ $ Loss from discontinued operations, net of tax benefit of $343 and $3,311, respectively Six Months Ended June 30, 2015 2014 Revenues $ $ Loss from discontinued operations, net of tax benefit of $1,716 and $6,068, respectively $ $
Assets and liabilities of disposal groups	June 30, 2015 December 31, 2014 Accounts receivable, net $ $ Prepaid expenses Inventory and other current assets Current assets $ $ Property, plant and equipment, net Intangible and other long-term assets, net - Long-term assets $ $ Accounts payable Accrued expenses Current liabilities $ $ Other long-term liabilities $ - $

Inventory and Other Current A24

Inventory and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	June 30, 2015 December 31, 2014 Finished goods $ $ Raw materials Work-in-process Supplies and consumables Total $ $

Decommissioning Liabilities (Ta

Decommissioning Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Decommissioning Liabilities [Abstract]
Summary the activity for company's decommissioning liabilities	Six Months Ended June 30, 2015 2014 Decommissioning liabilities, December 31, 2014 and 2013, respectively $ $ Liabilities acquired and incurred Accretion Revisions in estimated timing and cash flows Total decommissioning liabilities, June 30, 2015 and 2014, respectively $ $

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Information [Abstract]
Identifiable Assets	Identifiable Assets Onshore Drilling Completion Products and and Workover Production Technical Consolidated Services Services Services Solutions Unallocated Total June 30, 2015 $ $ $ $ $ - $ December 31, 2014 $ $ $ $ $ - $
Company's information by geographic area	Revenues Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 United States $ $ $ $ Other Countries Total $ $ $ $ Long-Lived Assets June 30, 2015 December 31, 2014 United States $ $ Other Countries Total, net $ $
Schedule Of Segment Reporting Information By Segment	Three Months Ended June 30, 2015 Onshore Drilling Completion Products and and Workover Production Technical Consolidated Services Services Services Solutions Unallocated Total Revenues $ $ $ $ $ - $ Cost of services and rentals (exclusive of items shown separately below) - Depreciation, depletion, amortization and accretion - General and administrative expenses - Reduction in value of assets - - Income (loss) from operations - Interest expense, net - - Other expense - - - - Income (loss) from continuing operations before income taxes $ $ $ $ $ $ Three Months Ended June 30, 2014 Onshore Drilling Completion Products and and Workover Production Technical Consolidated Services Services Services Solutions Unallocated Total Revenues $ $ $ $ $ - $ Cost of services and rentals (exclusive of items shown separately below) - Depreciation, depletion, amortization and accretion - General and administrative expenses - Income from operations - Interest expense, net - - - Other expense - - - - Income (loss) from continuing operations before income taxes $ $ $ $ $ $ Six Months Ended June 30, 2015 Onshore Drilling Completion Products and and Workover Production Technical Consolidated Services Services Services Solutions Unallocated Total Revenues $ $ $ $ $ - $ Cost of services and rentals (exclusive of items shown separately below) - Depreciation, depletion, amortization and accretion - General and administrative expenses - Reduction in value of assets - - Income (loss) from operations - Interest expense, net - - Other expense - - - - Income (loss) from continuing operations before income taxes $ $ $ $ $ $ Six Months Ended June 30, 2014 Onshore Drilling Completion Products and and Workover Production Technical Consolidated Services Services Services Solutions Unallocated Total Revenues $ $ $ $ $ - $ Cost of services and rentals (exclusive of items shown separately below) - Depreciation, depletion, amortization and accretion - General and administrative expenses - Income from operations - Interest expense, net - - - Other income (expense) - - - - Income (loss) from continuing operations before income taxes $ $ $ $ $ $

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements [Abstract]
Summary of financial assets and liabilities measured at fair value on recurring basis	Fair Value Measurements at Reporting Date Using June 30, 2015 Level 1 Level 2 Level 3 Intangible and other long-term assets, net Non-qualified deferred compensation assets $ $ $ - Interest rate swaps $ - $ - Accounts payable Non-qualified deferred compensation liabilities $ - $ - Other long-term liabilities Non-qualified deferred compensation liabilities $ - $ - December 31, 2014 Level 1 Level 2 Level 3 Intangible and other long-term assets, net Non-qualified deferred compensation assets $ $ $ - Interest rate swaps $ - $ - Accounts payable Non-qualified deferred compensation liabilities $ - $ - Other long-term liabilities Non-qualified deferred compensation liabilities $ - $ -
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]	Fair Value Measurements at Reporting Date Using June 30, 2015 (Level 1) (Level 2) (Level 3) Total Losses Property, plant and equipment, net $ $ - $ - $ $ Goodwill $ - - $ $ Intangible assets $ $ - $ - $ $

Derivative Financial Instrume28

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Financial Instruments [Abstract]
Location and effect of the derivative instrument on the statements of operations	Three Months Ended June 30, Effect of derivative instrument Location of (gain) loss recognized 2015 2014 Interest rate swap Interest expense, net $ $ Hedged item - debt Interest expense, net $ $ Six Months Ended June 30, Effect of derivative instrument Location of (gain) loss recognized 2015 2014 Interest rate swap Interest expense, net $ $ Hedged item - debt Interest expense, net $ $

Reduction in Value of Assets (D

Reduction in Value of Assets (Details) - Jun. 30, 2015 - USD ($) $ in Thousands	Total	Total
Reduction in Value of Property Plant and Equipment Held-for-use	$ 150,256	$ 107,142
Reduction in Value of Intangible Assets		43,114
Reduction in Value of Goodwill	575,389	575,389
Retirements of long-lived assets	42,545
Reduction in value of assets related to sale of business	39,447
Reduction in value of assets	807,637	807,637
Valuation Allowances and Reserves, Adjustments	16,800
Production Services [Member]
Reduction in Value of Property Plant and Equipment Held-for-use	78,500
Reduction in Value of Intangible Assets	43,100
Retirements of long-lived assets	15,200
Reduction in value of assets	751,577	751,577
Onshore Completion and Workover Services [Member]
Reduction in Value of Property Plant and Equipment Held-for-use	12,900
Retirements of long-lived assets	27,300
Reduction in value of assets	40,263	40,263
Drilling Products and Services [Member]
Reduction in Value of Property Plant and Equipment Held-for-use	15,800
Reduction in value of assets	$ 15,797	$ 15,797

Dispositions (Narrative) (Detai

Dispositions (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price of leased vessels		$ 67.4
Amount of notes receivable net	$ 115
Impairment Of Long Lived Assets To Be Disposed Of	$ 15.5
Ullswater Vessel [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Repayments of Long-term Capital Lease Obligations		$ 20.9

Dispositions (Components of inc

Dispositions (Components of income (loss) from discontinued operations, net of tax) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement Additional Disclosures by Disposal Groups Including Discontinued Operations [Line Items]
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ (9,857)	$ (3,895)	$ (19,497)	$ (9,849)
Segment, Discontinued Operations [Member]
Income Statement Additional Disclosures by Disposal Groups Including Discontinued Operations [Line Items]
Revenues	15,167	38,524	18,107	77,526
Income tax expense (benefit)	(343)	(3,311)	(1,716)	(6,068)
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ (9,857)	$ (3,895)	$ (19,497)	$ (9,849)

Dispositions (Assets and liabil

Dispositions (Assets and liabilities of disposal groups) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets of discontinued operations	$ 131,582	$ 116,680
Segment, Discontinued Operations [Member]
Accounts receivable, net, of discontinued operations	12,713	16,701
Prepaid expenses of discontinued operations	1,393	2,463
Inventory and other current assets of discontinued operations	1,399	5,576
Current assets of discontinued operations	15,505	24,740
Property, plant and equipment, net, of discontinued operations	116,077	91,171
Intangible and other long-term assets, net, of discontinued operations		769
Long-term assets of discontinued operations	116,077	91,940
Accounts payable of discontinued operations	1,717	20,530
Accrued expenses of discontinued operations	9,015	24,496
Current liabilities of discontinued operations	$ 10,732	45,026
Other long-term liabilities of discontinued operations		$ 16,814

Earnings per Share (Details)

Earnings per Share (Details) - Jun. 30, 2014 - shares	Total	Total
Earnings Per Share [Abstract]
Stock options	550,000	1,220,000

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Stock Based Compensation Plans [Abstract]
Compensation expense	$ 24.5	$ 22.6

Inventory and Other Current A35

Inventory and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Inventory and Other Current Assets [Abstract]
Inventory	$ 174,097	$ 165,562
Finished Goods	76,435	72,788
Work in progress	23,439	20,317
Raw materials	26,366	29,718
Supplies and consumables	$ 47,857	$ 42,739

Debt (Details)

Debt (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total
Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, Term Loan Amount Outstanding	$ 335
Credit facility, total borrowing capacity	1,000
Line of credit facility, revolving borrowing capacity	600
Aggregate principal amount of term loan	400
Line of Credit Facility, Periodic Payment	5
Letters of Credit Outstanding, Amount	43.2
Long-term Line of Credit	0
Unsecured Senior Notes Due 2019 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 500
Stated interest rate on unsecured senior notes	6.375%
Unsecured Senior Notes Due 2021 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 800

Decommissioning Liabilities (De

Decommissioning Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Summary of the activity for the Company's decommissioning liabilities
Decommissioning liabilities, December 31, 2014 and 2013, respectively	$ 88,000	$ 83,519
Liabilities acquired and incurred	1,176	797
Accretion	2,418	2,344
Revision estimated liabilities	1,482	(1,040)
Total decommissioning liabilities, June 30, 2015 and 2014, respectively	93,076	$ 85,620
Long-term decommissioning liabilities	$ 93,076		$ 88,000

Notes Receivable (Details)

Notes Receivable (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014
Notes Receivable [Abstract]
Amount of notes receivable net	$ 115	$ 115
Interest rate percentage to record present value of notes receivable	6.58%
Company recorded interest income		$ 0.8	$ 0.8

Segment Information (Financial

Segment Information (Financial information for Company's segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total revenues	$ 710,784	$ 1,107,552	$ 1,628,019	$ 2,168,970
Cost of services (exclusive of items shown separately below)	465,533	650,293	1,047,779	1,301,898
Depreciation, depletion, amortization and accretion	158,352	160,965	320,572	323,283
General and administrative expenses	129,661	146,853	280,623	302,772
Reduction in value of assets	807,637		807,637
Income from operations	(850,399)	149,441	(828,592)	241,017
Interest income (expense), net	(25,382)	(24,560)	(48,591)	(48,441)
Other Nonoperating Income (Expense)	(6,524)	606	(7,495)	571
Income (loss) from continuing operations before income taxes	(882,305)	125,487	(884,678)	193,147
Identifiable Assets	6,215,587		6,215,587		$ 7,377,389
Disposal Group, Including Discontinued Operation, Assets	131,600		131,600		116,700
Subsea and Technical Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	127,007	139,646	242,322	269,742
Cost of services (exclusive of items shown separately below)	77,991	71,530	151,557	144,523
Depreciation, depletion, amortization and accretion	16,473	18,059	30,638	32,948
General and administrative expenses	29,066	26,646	58,094	55,249
Income from operations	3,477	23,411	2,033	37,022
Interest income (expense), net	424	398	841	763
Income (loss) from continuing operations before income taxes	3,901	23,809	2,874	37,785
Identifiable Assets	926,833		926,833		946,813
Production Services [Member]
Segment Reporting Information [Line Items]
Total revenues	208,744	343,876	460,213	665,111
Cost of services (exclusive of items shown separately below)	156,615	231,119	347,929	458,344
Depreciation, depletion, amortization and accretion	36,671	40,180	75,831	81,988
General and administrative expenses	36,435	45,243	80,117	92,431
Reduction in value of assets	751,577		751,577
Income from operations	(772,554)	27,334	(795,241)	32,348
Interest income (expense), net	(369)		(134)
Income (loss) from continuing operations before income taxes	(772,923)	27,334	(795,375)	32,348
Identifiable Assets	1,160,351		1,160,351		2,116,171
Onshore Completion and Workover Services [Member]
Segment Reporting Information [Line Items]
Total revenues	226,363	398,048	577,355	787,925
Cost of services (exclusive of items shown separately below)	182,143	274,907	436,258	559,142
Depreciation, depletion, amortization and accretion	55,479	55,382	115,290	115,986
General and administrative expenses	33,031	36,011	71,323	74,979
Reduction in value of assets	40,263		40,263
Income from operations	(84,553)	31,748	(85,779)	37,818
Income (loss) from continuing operations before income taxes	(84,553)	31,748	(85,779)	37,818
Identifiable Assets	2,785,323		2,785,323		3,010,295
Drilling Products and Services [Member]
Segment Reporting Information [Line Items]
Total revenues	148,670	225,982	348,129	446,192
Cost of services (exclusive of items shown separately below)	48,784	72,737	112,035	139,889
Depreciation, depletion, amortization and accretion	49,729	47,344	98,813	92,361
General and administrative expenses	31,129	38,953	71,089	80,113
Reduction in value of assets	15,797		15,797
Income from operations	3,231	66,948	50,395	133,829
Income (loss) from continuing operations before income taxes	3,231	66,948	50,395	133,829
Identifiable Assets	1,343,080		1,343,080		$ 1,304,110
Unallocated [Member]
Segment Reporting Information [Line Items]
Interest income (expense), net	(25,437)	(24,958)	(49,298)	(49,204)
Other Nonoperating Income (Expense)	(6,524)	606	(7,495)	571
Income (loss) from continuing operations before income taxes	$ (31,961)	$ (24,352)	$ (56,793)	$ (48,633)

Segment Information (Company's

Segment Information (Company's information by geographic area) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 710,784	$ 1,107,552	$ 1,628,019	$ 2,168,970
Total, Long-lived assets	2,461,629		2,461,629		$ 2,733,839
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	541,337	932,941	1,301,780	1,825,260
Long-lived assets	2,114,080		2,114,080		2,416,306
Other Countries Member
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	169,447	$ 174,611	326,239	$ 343,710
Long-lived assets	$ 347,549		$ 347,549		$ 317,533

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Millions	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Fair Value Measurements [Abstract]
Adjustment Interval of Variable Rate on Interest Rate Swap	90
Interest rate swap agreement for notional amount	$ 100
Fair value of long term debt	$ 1,714.8	$ 1,624.3

Fair Value Measurements (Financ

Fair Value Measurements (Financial assets and liabilities measured at fair value on a recurring basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Non-Qualified Deferred Compensation Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	$ 11,858	$ 12,982
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	4,860	4,183
Non Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable	661	2,291
Other long-term liabilities	17,440	14,720
Level 1 [Member] | Non-Qualified Deferred Compensation Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	$ 368	$ 1,481
Level 1 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets
Level 1 [Member] | Non Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable
Other long-term liabilities
Level 2 [Member] | Non-Qualified Deferred Compensation Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	$ 11,490	$ 11,501
Level 2 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	4,860	4,183
Level 2 [Member] | Non Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable	661	2,291
Other long-term liabilities	$ 17,440	$ 14,720
Level 3 [Member] | Non-Qualified Deferred Compensation Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets
Level 3 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets
Level 3 [Member] | Non Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable
Other long-term liabilities

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurements Used in Testing) (Details) - Jun. 30, 2015 - USD ($) $ in Thousands	Total	Total
Fair Value Measurements [Abstract]
Reduction in Value of Goodwill	$ 575,389	$ 575,389
Reduction in Value of Intangible Assets		43,114
Reduction in Value of Property Plant and Equipment Held-for-use	150,256	107,142
Impairment Of Long Lived Assets To Be Disposed Of	15,500
Finite lived intngible assets fair value used in testing for impairment	6,345	6,345
Goodwill fair value measurement used in testing for impairment	329,594	329,594
Property, Plant and Equipment Fair Measurment Used in Testing Impairment of Long-lived Assets	$ 97,114	$ 97,114

Derivative Financial Instrume44

Derivative Financial Instruments (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Derivatives, Fair Value [Line Items]
Adjustment Interval of Variable Rate on Interest Rate Swap	90
Derivative asset	$ 4.9		$ 4.2
Interest income (expense) related to the ineffectiveness associated with the fair value hedge	0.7	$ 1.6
Interest rate swap agreement for notional amount	100
July 2013 Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Interest rate swap agreement for notional amount	$ 100

Derivative Financial Instrume45

Derivative Financial Instruments (The location and effect of the derivative instrument on the condensed consolidated statement of operations, pre-tax basis) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, (Gain) Loss [Line Items]
Amount of (gain) loss recognized	$ 586	$ (937)	$ (677)	$ (1,573)
Hedged Item Debt [Member] | Interest Expense, Net [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Amount of (gain) loss recognized	(2,671)	3,613	(486)	7,061
Interest Rate Swap [Member] | Interest Expense, Net [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Amount of (gain) loss recognized	$ 3,257	$ (4,550)	$ (191)	$ (8,634)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Income Taxes [Abstract]
Unrecorded tax benefits	$ 35.7	$ 30.3

Related Party Disclosure (Detai

Related Party Disclosure (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Purchase of services		$ 85.2
Trade Accounts Payable			$ 26.8
Ortowski Construction [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services		0.6
ORTEQ Energy Services [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services		38.7
Trade Accounts Payable			10.1
Resource Transport [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services		5.6
Trade Accounts Payable			1.7
Texas Specialty Sands [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services		26.8
Trade Accounts Payable			14
ProFuel LLC [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services		12.2
Trade Accounts Payable			1
TIMBER CREEK REAL ESTATE PARTNERS [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services		1.3
LINNENERGY[MEMBER]
Schedule of Equity Method Investments [Line Items]
Revenue from Related Parties	$ 4.2	$ 10.9
Accounts Receivable, Related Parties, Current	$ 1		$ 1.6