Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Superior Energy Services Inc | ' |
Entity Central Index Key | '0000886835 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 159,481,771 |
Trading Symbol | 'spn | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $90,651 | $91,199 |
Accounts receivable, net of allowance for doubtful accounts of $17,392 and $17,484 at June 30, 2012 and December 31, 2011, respectively | 1,030,232 | 1,027,218 |
Deferred Tax Assets, Net, Current | 18,424 | 34,120 |
Income tax receivable | 28,658 | ' |
Prepaid expenses | 89,851 | 93,190 |
Inventory and other current assets | 272,537 | 214,630 |
Total current assets | 1,530,353 | 1,460,357 |
Property, plant and equipment, net of accumulated depreciation and depletion of $984,221 and $970,137 at June 30, 2012 and December 31, 2011, respectively | 3,237,350 | 3,255,220 |
Goodwill | 2,548,910 | 2,532,065 |
Notes receivable | 47,033 | 44,838 |
Intangible and other long-term assets, net of accumulated amortization of $26,174 and $20,123 at June 30, 2012 and December 31, 2011, respectively | 484,217 | 510,406 |
Total assets | 7,847,863 | 7,802,886 |
Current liabilities: | ' | ' |
Accounts payable | 250,374 | 252,363 |
Accrued expenses | 361,927 | 346,490 |
Income taxes payable | ' | 153,212 |
Current maturities of long-term debt | 20,000 | 20,000 |
Total current liabilities | 632,301 | 772,065 |
Deferred income taxes | 845,228 | 745,144 |
Decommissioning liabilities | 97,595 | 93,053 |
Long-term debt, net | 1,650,000 | 1,814,500 |
Other long-term liabilities | 168,932 | 147,045 |
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 - 156,920,904, Outstanding - 157,516,128 at June 30, 2012 Authorized - 125,000,000, Issued and Outstanding, 82,425,443 at December 31, 2011 | 159 | 158 |
Additional paid in capital | 2,874,112 | 2,850,855 |
Accumulated other comprehensive loss, net | -21,968 | -19,317 |
Retained earnings | 1,601,504 | 1,399,383 |
Total stockholders' equity | 4,453,807 | 4,231,079 |
Total liabilities and stockholders' equity | $7,847,863 | $7,802,886 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Allowance for doubtful accounts | $27,562 | $28,715 |
Accumulated depreciation and depletion on Property, plant and equipment | 1,741,569 | 1,342,631 |
Accumulated amortization of Intangible and other long-term assets | $81,160 | $53,148 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 159,303,614 | 157,501,635 |
Common stock, shares outstanding | 159,510,812 | 157,933,224 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Condensed Consolidated Statements of Operations [Abstract] | ' | ' | ' | ' |
Revenues | $1,188,615 | $1,179,665 | $3,483,807 | $3,389,821 |
Costs and expenses: | ' | ' | ' | ' |
Cost of services (exclusive of items shown separately below) | 748,052 | 708,608 | 2,167,422 | 1,966,659 |
Depreciation, depletion, amortization and accretion | 158,006 | 128,160 | 462,627 | 366,272 |
General and administrative expenses | 157,904 | 163,458 | 465,035 | 496,998 |
Income from operations | 124,653 | 179,439 | 388,723 | 559,892 |
Other income (expense): | ' | ' | ' | ' |
Interest expense, net | -24,464 | -28,585 | -78,946 | -88,950 |
Gains (Losses) on Extinguishment of Debt | ' | -2,294 | -884 | -2,294 |
Gain loss from Equity method investment | ' | ' | ' | 17,880 |
Other Nonoperating Income (Expense) | 789 | 467 | 2,062 | 562 |
Income from continuing operations before income taxes | 100,978 | 149,027 | 310,955 | 487,090 |
Income taxes | 31,143 | 55,140 | 108,834 | 180,223 |
Net income (loss) from continuing operations | 69,835 | 93,887 | 202,121 | 306,867 |
Income (loss) from discontinued operations, net of tax | ' | ' | ' | -17,207 |
Net income | $69,835 | $93,887 | $202,121 | $289,660 |
Earnings per share information: | ' | ' | ' | ' |
Continuing operations | $0.44 | $0.60 | $1.27 | $2.09 |
Discontinued operations | ' | ' | ' | ($0.11) |
Basic earnings per share | $0.44 | $0.60 | $1.27 | $1.98 |
Continuing operations | $0.43 | $0.59 | $1.26 | $2.07 |
Discontinued operations | ' | ' | ' | ($0.12) |
Diluted earnings per share | $0.43 | $0.59 | $1.26 | $1.95 |
Weighted average common shares used in computing earnings per share: | ' | ' | ' | ' |
Basic | 159,326 | 157,153 | 159,204 | 146,611 |
Incremental common shares from stock based compensation | 1,557 | 1,423 | 1,600 | 1,758 |
Diluted | 160,883 | 158,576 | 160,804 | 148,369 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Consolidated Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $69,835 | $93,887 | $202,121 | $289,660 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | 1,007 | 2,198 | -448 | -642 |
Change in cumulative translation adjustment | 10,942 | 7,216 | -2,203 | 7,146 |
Comprehensive income | $81,784 | $103,301 | $199,470 | $296,164 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $202,121 | $289,660 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation, depletion, amortization and accretion | 462,627 | 367,518 |
Loss on early extinguishment of debt | 884 | 3,460 |
Deferred income taxes | 113,207 | -14,745 |
Excess tax benefit from stock-based compensation | -301 | -1,537 |
Gain loss from Equity method investment | ' | -17,880 |
Stock based and performance share unit compensation expense | 26,788 | 27,845 |
Retirement and deferred compensation plan expense | 100 | 1,455 |
Amortization of debt acquisition costs and note discount | 6,819 | 7,439 |
(Gain) loss sale of business | ' | 6,649 |
Other reconciling items, net | -6,361 | 4,922 |
Changes in operating assets and liabilities, net of acquisitions and dispositions: | ' | ' |
Accounts receivable | 140 | -144,316 |
Inventory and other current assets | -54,924 | 85,119 |
Accounts payable | 7,085 | -757 |
Accrued expenses | 24,721 | -29,835 |
Decommissioning liabilities | -87 | -4,624 |
Income taxes | -183,420 | 141,916 |
Other, net | 36,714 | -25,701 |
Net Cash Provided by (Used in) Operating Activities, Total | 636,113 | 696,588 |
Cash flows from investing activities: | ' | ' |
Payments for capital expenditures | -466,831 | -918,193 |
Sale of available-for-sale securities | ' | 31,150 |
Change in restricted cash held for acquisition of business | ' | 785,280 |
Acquisitions of businesses, net of cash acquired | -23,797 | -1,072,532 |
Cash proceeds from sale of businesses | ' | 183,094 |
Proceeds from Sale of Equity Method Investments | ' | 34,087 |
Other | 2,709 | 28,438 |
Net Cash Provided by (Used in) Investing Activities, Total | -465,269 | -928,676 |
Proceeds from Insurance Settlement, Investing Activities | 22,650 | ' |
Cash flows from financing activities: | ' | ' |
Proceeds from issuance of long-term debt | ' | 400,000 |
Principal payments of long-term debt | -165,000 | -172,546 |
Payment of debt acquisition costs | ' | -25,266 |
Proceeds from exercise of stock options | 5,551 | 13,915 |
Excess tax benefit from stock-based compensation | 301 | 1,537 |
Proceeds from issuance of stock through employee benefit plans | 1,939 | 2,193 |
Other | -12,164 | -5,843 |
Net Cash Provided by (Used in) Financing Activities, Total | -169,373 | 228,990 |
Repayments of Long-term Lines of Credit | -561,771 | -589,608 |
Proceeds from Long-term Lines of Credit | 561,771 | 604,608 |
Effect of exchange rate changes on cash | -2,019 | 1,910 |
Net increase in cash and cash equivalents | -548 | -1,188 |
Cash and cash equivalents at beginning of period | 91,199 | 80,274 |
Cash and cash equivalents at end of period | $90,651 | $79,086 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
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, 2012, 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 nine months ended September 30, 2013 and 2012 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. The results of operations for the first nine months of the year are not necessarily indicative of the results of operations that might be expected for the entire year. Certain previously reported amounts have been reclassified to conform to the 2013 presentation. | |
Acquisitions
Acquisitions | 9 Months Ended |
Sep. 30, 2013 | |
Acquisitions [Abstract] | ' |
Acquisitions | ' |
(2)Acquisitions | |
Complete Production Services, Inc. | |
On February 7, 2012, the Company acquired Complete Production Services, Inc. (Complete) in a cash and stock merger transaction valued at approximately $2,914.8 million. Complete focused on providing specialized completion and production services and products that help oil and gas companies develop hydrocarbon reserves, reduce costs and enhance production. Complete’s operations were located throughout the U.S. and Mexico. The acquisition of Complete substantially expanded the size and scope of the Company’s services. Complete’s legacy businesses are currently reported in the Onshore Completion and Workover Services and the Production Services segments. | |
Pursuant to the merger agreement, Complete stockholders received 0.945 of a share of the Company’s common stock and $7.00 cash for each share of Complete’s common stock outstanding at the time of the acquisition. In total, the Company paid approximately $553.3 million in cash and issued approximately 74.7 million shares of its common stock valued at approximately $2,308.2 million (based on the closing price of the Company’s common stock on the acquisition date of $30.90). Additionally, the Company paid $676.0 million, inclusive of a $26.0 million prepayment premium, to redeem $650 million of Complete’s 8.0% senior notes. The Company also assumed all outstanding stock options and shares of non-vested and unissued restricted stock beneficially owned by Complete’s employees and directors at the time of acquisition. | |
Acquisition related expenses totaled approximately $33.3 million, of which approximately $28.8 million was recorded in the nine months ended September 30, 2012. The remainder was recorded in the three months ended December 31, 2011. These acquisition related costs include expenses directly related to acquiring Complete and were recorded in general and administrative expenses in the consolidated statements of income. | |
Other Acquisitions | |
In March 2013, the Company acquired 100% of the equity interest in a company that provides cementing services to oil and gas companies in Colombia. This acquisition provides the Company with a platform for continued expansion in the South American market area. During the three months ended September 30, 2013, the Company recorded adjustments to the initial purchase price allocation to reflect new information obtained about facts and circumstances that existed as of the acquisition date. The Company paid approximately $20.4 million at closing and will pay an additional $3.6 million over the next two years, subject to the settlement of certain liabilities. Goodwill of approximately $15.1 million was recognized as a result of this acquisition and was calculated as the excess of the consideration paid over the net assets recognized and represents estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. None of the goodwill related to this acquisition will be deductible for tax purposes. All of the goodwill was assigned to the Production Services segment. | |
In August 2012, the Company acquired 100% of the equity interest in a company that provides mechanical wireline, electric line and well testing services to the oil and gas exploration and production industry in Argentina. The Company paid approximately $37.6 million in cash related to this acquisition, including approximately $6.5 million of contingent consideration paid in April 2013 based upon achievement of certain performance metrics. | |
Dispositions
Dispositions | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Dispositions [Abstract] | ' | |||
Dispositions | ' | |||
(3)Dispositions | ||||
On February 15, 2012, the Company sold one of its derrick barges and received proceeds of approximately $44.5 million, inclusive of selling costs. The Company recorded a pre-tax loss of approximately $3.1 million, inclusive of approximately $9.7 million of goodwill, during the nine months ended September 30, 2012 in connection with this sale. This business was previously reported in the Company’s former Subsea and Well Enhancement segment. The operations and loss on the sale of this disposal group have been reported within loss from discontinued operations in the condensed consolidated statement of income. | ||||
On March 30, 2012, the Company sold 18 liftboats and related assets comprising its former Marine segment. The Company received cash proceeds of approximately $138.6 million, inclusive of working capital and selling costs. In connection with the sale, the Company repaid approximately $12.5 million in U.S. Government guaranteed long-term financing. As a result of the repayment, the Company paid approximately $4.0 million of make-whole premiums and wrote off approximately $0.7 million of unamortized loan costs. The Company’s total pre-tax loss on the disposal of this segment was approximately $56.1 million, which includes a $46.1 million write off of long-lived assets and goodwill recorded in the fourth quarter of 2011 in order to approximate the segment’s indicated fair value, and an additional loss of $10.0 million recorded in the first quarter of 2012, comprised of an approximate $3.6 million loss on sale of assets and approximately $6.4 million of additional costs related to the disposition. | ||||
The following table summarizes the components of loss from discontinued operations, net of tax for the nine months ended September 30, 2012 (in thousands): | ||||
Revenues | $ 16,231 | |||
Loss from discontinued operations, net of tax benefit of $1,771 | -6,478 | |||
Loss on disposition, net of tax benefit of $2,391 | -10,729 | |||
Loss from discontinued operations, net of tax | $ (17,207) | |||
Stock_Based_Compensation_and_R
Stock Based Compensation and Retirement Plans | 9 Months Ended |
Sep. 30, 2013 | |
Stock Based Compensation and Retirement Plans [Abstract] | ' |
Stock Based Compensation and Retirement Plans | ' |
(4)Stock-Based Compensation and Retirement 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 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 $27.7 million and $30.0 million for the nine months ended September 30, 2013 and 2012, respectively, which is reflected in general and administrative expenses. | |
Inventory_and_Other_Current_As
Inventory and Other Current Assets | 9 Months Ended |
Sep. 30, 2013 | |
Inventory and Other Current Assets [Abstract] | ' |
Inventory and Other Current Assets | ' |
(5)Inventory and Other Current Assets | |
Inventory and other current assets includes approximately $159.6 million and $136.5 million of inventory at September 30, 2013 and December 31, 2012, respectively. The Company’s inventory balance at September 30, 2013 consisted of approximately $64.0 million of finished goods, $17.6 million of work-in-process, $22.1 million of raw materials and $55.9 million of supplies and consumables. The Company’s inventory balance at December 31, 2012 consisted of approximately $63.7 million of finished goods, $6.0 million of work-in-process, $5.0 million of raw materials and $61.8 million of supplies and consumables. 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. | |
On April 17, 2012, SandRidge Energy Inc. (NYSE: SD) (SandRidge) completed its acquisition of Dynamic Offshore Resources, LLC (Dynamic Offshore), at which time the Company received approximately $34.1 million in cash and approximately $51.6 million in shares of SandRidge common stock (approximately 7.0 million shares valued at $7.33 per share) as consideration for its 10% interest in Dynamic Offshore. In accordance with authoritative guidance related to equity securities, the Company is accounting for the shares received in this transaction as available-for-sale securities. The changes in fair values, net of applicable taxes, on available-for-sale securities are recorded as unrealized holding gains (losses) on securities as a component of accumulated other comprehensive loss in stockholders' equity. | |
The fair value of the approximately 1.5 million shares of SandRidge common stock held by the Company at September 30, 2013 was approximately $8.5 million. During the nine months ended September 30, 2013, the Company recorded an unrealized loss related to the fair value of these securities of $0.7 million, of which $0.5 million was reported within accumulated other comprehensive loss, net of tax benefit of $0.2 million. During the nine months ended September 30, 2012, the Company recorded an unrealized loss related to the fair value of these securities of $1.0 million, of which $0.6 million was reported within accumulated other comprehensive loss, net of tax benefit of $0.4 million. The Company evaluates whether unrealized losses on investments in available-for-sale securities are other-than-temporary, and if it is believed the unrealized losses are other-than-temporary, an impairment charge is recorded. There were no other-than-temporary impairment losses recognized during the nine months ended September 30, 2013 and 2012. | |
Debt
Debt | 9 Months Ended |
Sep. 30, 2013 | |
Debt [Abstract] | ' |
Debt | ' |
(6)Debt | |
In May 2013, the Company redeemed the remaining $150 million aggregate principal amount of its 6 7/8% unsecured senior notes due 2014 at 100% of face value using proceeds from the revolving portion of its credit facility. The redemption resulted in a loss on early extinguishment of debt of approximately $0.9 million related to the writeoff of unamortized debt acquisition costs and note discount. | |
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. At September 30, 2013, the Company had $370 million outstanding under the term loan. At September 30, 2013, the Company had no amounts outstanding under the revolving portion of its credit facility. The Company also had approximately $56.0 million of letters of credit outstanding, which reduce the Company’s borrowing availability under this portion of the credit facility. | |
Any amounts outstanding on the revolving portion of the credit facility and the term loan are due on February 7, 2017. Amounts borrowed under the credit facility bear interest at LIBOR plus margins that depend on the Company’s leverage ratio. Indebtedness under the credit facility is secured by substantially all of the Company’s assets, including the pledge of the stock of the Company’s principal domestic subsidiaries. The credit facility contains customary events of default and requires that the Company satisfy various financial covenants. It also limits the Company’s ability to pay dividends or make other distributions, make acquisitions, make changes to the Company’s capital structure, create liens or incur additional indebtedness. At September 30, 2013, the Company was in compliance with all such covenants. | |
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 1st and November 1st of each year through the maturity date of May 1, 2019. The indenture contains certain covenants that, among other things, limit the Company from incurring additional debt, repurchasing capital stock, paying dividends or making other distributions, incurring liens, selling assets or entering into certain mergers or acquisitions. At September 30, 2013, the Company was in compliance with all such covenants. | |
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 15th and December 15th of each year through the maturity date of December 15, 2021. The indenture contains certain covenants that, among other things, limit the Company from incurring additional debt, repurchasing capital stock, paying dividends or making other distributions, incurring liens, selling assets or entering into certain mergers or acquisitions. At September 30, 2013, the Company was in compliance with all such covenants. | |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2013 | |
Earnings Per Share [Abstract] | ' |
Earnings per Share | ' |
(7)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. The weighted average number of common shares outstanding excludes the shares of non-vested restricted stock that were assumed by the Company as a result of the Complete acquisition. 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, conversion of restricted stock units and the vesting of outstanding restricted stock issued in the acquisition of Complete. | |
Stock options for approximately 1,100,000 and 2,600,000 shares of the Company’s common stock for the three months ended September 30, 2013 and 2012, respectively, and approximately 1,210,000 and 1,800,000 shares of the Company’s common stock for the nine months ended September 30, 2013 and 2012, respectively, were excluded in the computation of diluted earnings per share for these periods as the effect would have been anti-dilutive. | |
Decommissioning_Liabilities
Decommissioning Liabilities | 9 Months Ended | |||||
Sep. 30, 2013 | ||||||
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 facilities and equipment, and site restoration. Whenever practical, the Company utilizes its own equipment and labor services to perform well abandonment and decommissioning work. When the Company performs these services, all recorded intercompany revenues and related costs of services are eliminated in the condensed consolidated financial statements. The recorded decommissioning liability associated with a specific property is fully extinguished when the property is abandoned. The recorded liability is first reduced by all cash expenses incurred to abandon and decommission the property. If the recorded liability exceeds (or is less than) the Company’s total costs, then the difference is reported as an increase or decrease in revenue during the period in which the work is performed. | ||||||
The Company reviews the adequacy of its decommissioning liabilities whenever indicators suggest that the estimated cash flows needed to satisfy the liability have changed materially. The Company reviews its estimates for the timing of these expenditures on a quarterly basis. As a result of continuing development activities, the Company revised its estimates during the second quarter of 2012 relating to the timing of decommissioning work on Bullwinkle assets, including a 10 year postponement of the platform decommissioning. This change in estimate resulted in a significant reduction in the present value of decommissioning liabilities. | ||||||
The following table summarizes the activity for the Company’s decommissioning liabilities for the nine month periods ended September 30, 2013 and 2012 (in thousands): | ||||||
2013 | 2012 | |||||
Decommissioning liabilities, December 31, 2012 and 2011, respectively | $ 93,053 | $ 123,176 | ||||
Liabilities acquired and incurred | 360 | 3,573 | ||||
Liabilities settled | -87 | -4,624 | ||||
Accretion | 4,269 | 3,260 | ||||
Revision in estimated liabilities | - | -34,373 | ||||
Long-term decommissioning liabilities, September 30, 2013 and 2012 , respectively | $ 97,595 | $ 91,012 | ||||
Notes_Receivable
Notes Receivable | 9 Months Ended |
Sep. 30, 2013 | |
Notes Receivable [Abstract] | ' |
Notes Receivable | ' |
(9)Notes Receivable | |
Notes receivable consist of a commitment from the seller of oil and gas properties acquired by the Company towards 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 totaled $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 the platform’s removal. The Company recorded interest income related to notes receivable of $2.2 million and $2.1 million for the nine months ended September 30, 2013 and 2012, respectively. | |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Segment Information [Abstract] | ' | |||||||||||||
Segment Information | ' | |||||||||||||
(10) Segment Information | ||||||||||||||
Business Segments | ||||||||||||||
During the fourth quarter of 2012, the Company revised the internal reporting structure that is used by the chief operating decision maker in determining how to allocate the Company’s resources and, as a result, divided the Subsea and Well Enhancement segment into three segments that better reflect the Company’s product and service offerings throughout the life cycle of a well: Onshore Completion and Workover Services, Production Services, and Subsea and Technical Solutions. The Drilling Products and Services segment remains unchanged. Accordingly, all prior period segment disclosures have been recast to reflect this change in reporting structure. | ||||||||||||||
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 Subsea and Technical Solutions segment provides services typically requiring specialized engineering, manufacturing or project planning, including integrated subsea services and engineering services, 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. | ||||||||||||||
Summarized financial information for the Company’s segments for the three and nine months ended September 30, 2013 and 2012 is shown in the following tables (in thousands): | ||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||
Onshore | ||||||||||||||
Drilling | Completion | Subsea and | ||||||||||||
Products and | and Workover | Production | Technical | Consolidated | ||||||||||
Services | Services | Services | Solutions | Unallocated | Total | |||||||||
Revenues | $ 215,523 | $ 398,016 | $ 359,722 | $ 215,354 | $ - | $ 1,188,615 | ||||||||
Cost of services | ||||||||||||||
(exclusive of items shown separately below) | 73,873 | 275,676 | 251,575 | 146,928 | - | 748,052 | ||||||||
Depreciation, depletion, amortization and accretion | 42,391 | 52,576 | 45,553 | 17,486 | - | 158,006 | ||||||||
General and administrative expenses | 37,016 | 36,306 | 46,886 | 37,696 | - | 157,904 | ||||||||
Income from operations | 62,243 | 33,458 | 15,708 | 13,244 | - | 124,653 | ||||||||
Interest expense, net | - | - | - | 743 | -25,207 | -24,464 | ||||||||
Other income | - | - | - | - | 789 | 789 | ||||||||
Income (loss) from continuing operations | ||||||||||||||
before income taxes | $ 62,243 | $ 33,458 | $ 15,708 | $ 13,987 | $ (24,418) | $ 100,978 | ||||||||
Three Months Ended September 30, 2012 | ||||||||||||||
Onshore | ||||||||||||||
Drilling | Completion | Subsea and | ||||||||||||
Products and | and Workover | Production | Technical | Consolidated | ||||||||||
Services | Services | Services | Solutions | Unallocated | Total | |||||||||
Revenues | $ 194,882 | $ 421,194 | $ 373,868 | $ 189,721 | $ - | $ 1,179,665 | ||||||||
Cost of services | ||||||||||||||
(exclusive of items shown separately below) | 61,959 | 277,780 | 237,506 | 131,363 | - | 708,608 | ||||||||
Depreciation, depletion, amortization and accretion | 37,784 | 48,108 | 34,509 | 7,759 | - | 128,160 | ||||||||
General and administrative expenses | 32,380 | 43,109 | 52,830 | 35,139 | - | 163,458 | ||||||||
Income from operations | 62,759 | 52,197 | 49,023 | 15,460 | - | 179,439 | ||||||||
Interest expense, net | - | - | - | 697 | -29,282 | -28,585 | ||||||||
Other income | - | - | - | 467 | 467 | |||||||||
Loss on early extinguishment of debt | - | - | - | -2,294 | -2,294 | |||||||||
Income (loss) from continuing operations | ||||||||||||||
before income taxes | $ 62,759 | $ 52,197 | $ 49,023 | $ 16,157 | $ (31,109) | $ 149,027 | ||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||
Onshore | ||||||||||||||
Drilling | Completion | Subsea and | Consolidated | |||||||||||
Products and | and Workover | Production | Technical | |||||||||||
Services | Services | Services | Solutions | Unallocated | Total | |||||||||
Revenues | $ 614,924 | $ 1,222,215 | $ 1,096,185 | $ 550,483 | $ - | $ 3,483,807 | ||||||||
Cost of services | ||||||||||||||
(exclusive of items shown separately below) | 205,502 | 819,472 | 756,954 | 385,494 | - | 2,167,422 | ||||||||
Depreciation, depletion, amortization and accretion | 125,768 | 158,021 | 133,361 | 45,477 | - | 462,627 | ||||||||
General and administrative expenses | 105,180 | 114,747 | 140,970 | 104,138 | - | 465,035 | ||||||||
Income from operations | 178,474 | 129,975 | 64,900 | 15,374 | - | 388,723 | ||||||||
Interest expense, net | - | - | - | 2,195 | -81,141 | -78,946 | ||||||||
Other income | - | - | - | - | 2,062 | 2,062 | ||||||||
Loss on early extinguishment of debt | - | - | - | - | -884 | -884 | ||||||||
Income (loss) from continuing operations | ||||||||||||||
before income taxes | $ 178,474 | $ 129,975 | $ 64,900 | $ 17,569 | $ (79,963) | $ 310,955 | ||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||
Onshore | ||||||||||||||
Drilling | Completion | Subsea and | Consolidated | |||||||||||
Products and | and Workover | Production | Technical | |||||||||||
Services | Services | Services | Solutions | Unallocated | Total | |||||||||
Revenues | $ 582,389 | $ 1,176,239 | $ 1,141,649 | $ 489,544 | $ - | $ 3,389,821 | ||||||||
Cost of services | ||||||||||||||
(exclusive of items shown separately below) | 191,010 | 766,620 | 680,439 | 328,590 | - | 1,966,659 | ||||||||
Depreciation, depletion, amortization and accretion | 111,200 | 119,594 | 99,345 | 36,133 | - | 366,272 | ||||||||
General and administrative expenses | 100,875 | 140,453 | 159,645 | 96,025 | - | 496,998 | ||||||||
Income from operations | 179,304 | 149,572 | 202,220 | 28,796 | - | 559,892 | ||||||||
Interest income (expense), net | - | - | - | 2,107 | -91,057 | -88,950 | ||||||||
Other income (expense) | - | - | - | 562 | 562 | |||||||||
Loss on early extinguishment of debt | - | - | - | - | -2,294 | -2,294 | ||||||||
Gain on sale of equity method investment | - | - | - | - | 17,880 | 17,880 | ||||||||
Income (loss) from continuing operations | ||||||||||||||
before income taxes | $ 179,304 | $ 149,572 | $ 202,220 | $ 30,903 | $ (74,909) | $ 487,090 | ||||||||
Identifiable Assets | ||||||||||||||
Onshore | ||||||||||||||
Drilling | Completion | Subsea and | ||||||||||||
Products and | and Workover | Production | Technical | Consolidated | ||||||||||
Services | Services | Services | Solutions | Unallocated | Total | |||||||||
30-Sep-13 | $ 1,158,247 | $ 3,006,588 | $ 2,244,103 | $ 1,438,925 | $ - | $ 7,847,863 | ||||||||
31-Dec-12 | $ 1,086,804 | $ 3,223,984 | $ 2,185,779 | $ 1,295,134 | $ 11,185 | $ 7,802,886 | ||||||||
Geographic Segments | ||||||||||||||
The Company attributes revenue to various countries based on the location where services are performed or the destination of the drilling products or equipment sold or leased. 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. The Company’s revenue by geographic area for the three and nine months ended September 30, 2013 and 2012, and long-lived assets by geographic area at September 30, 2013 and December 31, 2012 is as follows (in thousands): | ||||||||||||||
Revenues: | Three Months | Nine Months | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
United States | $ 960,054 | $ 976,984 | $ 2,849,265 | $ 2,826,544 | ||||||||||
Other Countries | 228,561 | 202,681 | 634,542 | 563,277 | ||||||||||
Total | $ 1,188,615 | $ 1,179,665 | $ 3,483,807 | $ 3,389,821 | ||||||||||
Long-Lived Assets: | September 30, | ` | December 31, | |||||||||||
2013 | 2012 | |||||||||||||
United States | $ 2,611,837 | $ 2,684,932 | ||||||||||||
Other Countries | 625,513 | 570,288 | ||||||||||||
Total, net | $ 3,237,350 | $ 3,255,220 | ||||||||||||
Guarantee
Guarantee | 9 Months Ended |
Sep. 30, 2013 | |
Guarantee [Abstract] | ' |
Guarantee | ' |
(11)Guarantee | |
In accordance with authoritative guidance related to guarantees, the Company has assigned an estimated value of $2.6 million at September 30, 2013 and December 31, 2012 related to decommissioning activities in connection with oil and gas properties acquired by the Company’s former subsidiary SPN Resources, LLC (SPN Resources) prior to its sale to Dynamic Offshore in March 2008. The guarantee is reflected in other long-term liabilities. The Company believes that the likelihood of being required to perform these guarantees is remote. In the unlikely event of default on any remaining decommissioning liabilities, the total maximum potential obligation under these guarantees is estimated to be approximately $105.1 million, net of the contractual right to receive payments from third parties, which is approximately $24.6 million, as of September 30, 2013. The total maximum potential obligation will decrease over time as the underlying obligations are fulfilled. | |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||
Fair Value Measurements | ' | |||||||||
(12)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 at September 30, 2013 and December 31, 2012 (in thousands): | ||||||||||
Fair Value Measurements at Reporting Date Using | ||||||||||
30-Sep-13 | Level 1 | Level 2 | Level 3 | |||||||
Inventory and other current assets | ||||||||||
Available-for-sale securities | $ 8,512 | $ 8,512 | - | - | ||||||
Intangible and other long-term assets, net | ||||||||||
Non-qualified deferred compensation assets | $ 13,045 | $ 1,963 | $ 11,082 | - | ||||||
Interest rate swaps | $ 616 | - | $ 616 | - | ||||||
Accrued Expenses | ||||||||||
Non-qualified deferred compensation liabilities | $ 1,944 | - | $ 1,944 | - | ||||||
Contingent consideration | $ 136 | - | - | $ 136 | ||||||
Other long-term liabilities | ||||||||||
Non-qualified deferred compensation liabilities | $ 14,050 | - | $ 14,050 | - | ||||||
31-Dec-12 | Level 1 | Level 2 | Level 3 | |||||||
Inventory and other current assets | ||||||||||
Available-for-sale securities | $ 9,224 | $ 9,224 | - | - | ||||||
Intangible and other long-term assets, net | ||||||||||
Non-qualified deferred compensation assets | $ 11,343 | $ 825 | $ 10,518 | - | ||||||
Interest rate swap | $ 1,286 | - | $ 1,286 | - | ||||||
Accounts payable | ||||||||||
Non-qualified deferred compensation liabilities | $ 125 | - | $ 125 | - | ||||||
Accrued expenses | ||||||||||
Contingent consideration | $ 9,890 | - | - | $ 9,890 | ||||||
Other long-term liabilities | ||||||||||
Non-qualified deferred compensation liabilities | $ 13,515 | - | $ 13,515 | - | ||||||
Available-for-sale securities is comprised of approximately 1.5 million shares of SandRidge common stock that the Company received as partial consideration for its 10% interest in Dynamic Offshore (see note 5). The securities are reported at fair value based on the closing price of the shares as reported on the New York Stock Exchange. | ||||||||||
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. | ||||||||||
In July 2013, June 2013 and April 2012, the Company entered into 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 derivative has been tested to be highly effective in offsetting changes in the fair value of the underlying note. 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 13). The Company previously had an interest rate swap agreement for a notional amount of $150 million related to its 6 7/8% senior notes that was designated as a fair value hedge. In February 2012, the Company sold this interest rate swap to the counterparty for approximately $1.2 million. | ||||||||||
As of September 30, 2013, the Company’s maximum contingent consideration payable as a result of prior acquisitions was approximately $3.5 million. The Company has recorded a current liability of approximately $0.1 million, which represents the Company’s estimate of the fair value of the maximum contingent consideration payable. The fair value of the contingent consideration was determined using a probability-weighted discounted cash flow approach at the acquisition and reporting date. The approach is based on significant inputs that are not observable in the market, which are referred to as Level 3 inputs. The fair value is based on the acquired companies reaching specific performance metrics. | ||||||||||
During the nine months ended September 30, 2013, the Company paid approximately $6.5 million of contingent consideration related to its acquisition of a wireline and well testing company in 2012. The following table summarizes the activity recorded using fair value of Level 3 liabilities for the nine months ended September 30, 2013 (in thousands): | ||||||||||
Balance as of December 31, 2012 | $ 9,890 | |||||||||
Settlements | -6,500 | |||||||||
Reduction in fair value of liability for | ||||||||||
additional consideration | -3,254 | |||||||||
Balance as of September 30, 2013 | $ 136 | |||||||||
In accordance with authoritative guidance, non-financial assets and non-financial liabilities are remeasured at fair value on a non-recurring basis. In determining estimated fair value of acquired goodwill, we use various sources and types of information, including, but not limited to, quoted market prices, replacement cost estimates, accepted valuation techniques such as discounted cash flows, and existing carrying value of acquired assets. As necessary, we utilize third-party appraisal firms to assist us in determining fair value of inventory, identifiable intangible assets, and any other significant assets or liabilities. During the measurement period and as necessary, we adjust the preliminary purchase price allocation if we obtain more information regarding asset valuations and liabilities assumed. During the nine months ended September 30, 2013, the Company revised its fair value estimate of contingent consideration payable due to changes in certain performance metrics. The adjustment was recorded in general and administrative expense in the consolidated statement of income. | ||||||||||
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 $1,772.8 million and $1,960.0 million at September 30, 2013 and December 31, 2012, 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. | ||||||||||
Derivative_Financial_Instrumen
Derivative Financial Instruments | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Derivative Financial Instruments [Abstract] | ' | ||||||||
Derivative Financial Instruments | ' | ||||||||
(13)Derivative Financial Instruments | |||||||||
From time to time, the Company may employ interest rate swaps in an attempt to achieve a more balanced debt portfolio. 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 transactions are designated 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 of $0.6 million and $1.3 million within intangible and other long term assets in the consolidated balance sheets at September 30, 2013 and December 31, 2012, respectively, relating to these swaps. | |||||||||
The Company previously had an interest rate swap for a notional amount of $150 million related to its 6 7/8% senior notes maturing in June 2014 that was designated as a fair value hedge. In February 2012, the Company sold this interest rate swap to the counterparty for approximately $1.2 million. | |||||||||
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 effect and location of the derivative instruments in the condensed consolidated statement of operations for the three and nine months ended September 30, 2013 and 2012, presented on a pre-tax basis, is as follows (in thousands): | |||||||||
Effect of derivative instrument | Location of (gain) loss | ||||||||
recognized | |||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | ||||||||
Interest rate swap | Interest expense, net | $ (513) | $ (1,079) | ||||||
Hedged item - debt | Interest expense, net | 615 | 682 | ||||||
$ 102 | $ (397) | ||||||||
Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | ||||||||
Interest rate swap | Interest expense, net | $ 7,383 | $ (4,235) | ||||||
Hedged item - debt | Interest expense, net | -6,886 | 3,196 | ||||||
$ 497 | $ (1,039) | ||||||||
For the nine months ended September 30, 2013 and 2012, approximately $0.5 million of interest expense and $1.0 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 | 9 Months Ended |
Sep. 30, 2013 | |
Income Taxes [Abstract] | ' |
Income Taxes | ' |
(14)Income Taxes | |
The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate adjusted for certain discrete items for the full fiscal year. Cumulative adjustments to the Company's estimate are recorded in the interim period in which a change in the estimated annual effective rate is determined. During the three months ended September 30, 2013, the Company recorded adjustments to the effective income tax rate to reflect changes resulting from filing its 2012 U.S. federal tax return. As a result, the Company adjusted its effective tax rate from 37% to 35% for the nine months ending September 30, 2013. The decrease in the rate was primarily as result of U.S. federal income tax credits. | |
The Company follows authoritative guidance surrounding 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 $27.8 million and $26.4 million of unrecorded tax benefits at September 30, 2013 and December 31, 2012, respectively, all of which would impact the Company’s effective tax rate if recognized. | |
In addition to its U.S. federal tax return, the Company files income tax returns in various state and foreign jurisdictions. The number of years that are open under the statute of limitations and subject to audit varies depending on the tax jurisdiction. The Company remains subject to U.S. federal tax examinations for years after 2009. | |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies [Abstract] | ' |
Commitments and Contingencies | ' |
(15) Commitments and Contingencies | |
The Company’s wholly owned subsidiary, Hallin Marine, is the lessee of a dynamically positioned subsea vessel under a capital lease expiring in 2019 with a two year renewal option. Hallin Marine owns a 5% equity interest in the entity that owns this leased asset. The lessor’s debt is non-recourse to the Company. The amount of the asset and liability under this capital lease is recorded at the present value of the lease payments. The vessel’s gross asset value under the capital lease was approximately $37.6 million at inception and accumulated depreciation through September 30, 2013 and December 31, 2012 was approximately $15.3 million and $12.2 million, respectively. As of September 30, 2013 and December 31, 2012, the Company had approximately $22.5 million and $25.6 million, respectively, included in other long-term liabilities, and approximately $4.1 million and $3.9 million, respectively, included in accounts payable related to the obligations under this capital lease. The future minimum lease payments under this capital lease are approximately $1.0 million, $4.2 million, $4.6 million, $5.0 million, $5.4 million and $5.9 million for the three months ending December 31, 2013 and the years ending December 31, 2014, 2015, 2016, 2017 and 2018, respectively, exclusive of interest at an annual rate of 8.5%. For the nine months ended September 30, 2013 and 2012, the Company recorded interest expense of approximately $1.8 million and $2.0 million, respectively, in connection with this capital lease. | |
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. | |
Related_Party_Disclosures
Related Party Disclosures | 9 Months Ended | |
Sep. 30, 2013 | ||
Related Party Transactions [Abstract] | ' | |
Related Party Disclosures | ' | |
-16 | Related Party Disclosures | |
Subsequent to the acquisition of Complete, the Company purchases services, products and equipment from companies affiliated with an officer of one of its subsidiaries. The Company believes the transactions reflected below with these related parties are on terms and conditions no less favorable to the Company than transactions with unaffiliated parties. For the nine months ended September 30, 2013 and 2012, these purchases totaled approximately $140.7 million and $188.0 million, respectively. For the nine months ended September 30, 2013, approximately $41.1 million was purchased from ORTEQ Energy Services, a heavy equipment construction company which also manufactures pressure pumping equipment, approximately $0.1 million was purchased from Ortowski Construction, primarily related to the manufacture of pressure pumping units, approximately $11.9 million was purchased from Resource Transport, LLC, related to the transportation of sand used in pressure pumping activities, approximately $64.6 million was purchased from Texas Specialty Sands, LLC primarily for the purchase of sand used for pressure pumping activities, approximately $22.6 million was purchased from ProFuel, LLC, primarily related to the purchase of diesel used to operate equipment and trucks, and approximately $0.4 million was related to facilities leased from Timber Creek Real Estate Partners. From the date of acquisition of Complete through September 30, 2012, approximately $90.9 million was purchased from ORTEQ Energy Services, approximately $4.0 million was purchased from Ortowski Construction, approximately $8.0 million was purchased from Resource Transport, LLC, approximately $70.6 million was purchased from Texas Specialty Sands, LLC, approximately $13.4 million was purchased from ProFuel, LLC, and approximately $1.1 million was related to facilities leased from Timber Creek Real Estate Partners. | ||
As of September 30, 2013, the Company’s trade accounts payable includes amounts due to these companies totaling approximately $14.7 million, of which approximately $2.8 million was due ORTEQ Energy Services, approximately $1.3 million was due Resource Transport, LLC, approximately $8.2 million was due Texas Specialty Sands, LLC, and approximately $2.4 million was due ProFuel, LLC. As of December 31, 2012, the Company’s trade accounts payable includes amounts due to these companies totaling approximately $23.2 million, of which approximately $13.4 million was due ORTEQ Energy Services, approximately $1.3 million was due Resource Transport, LLC, approximately $6.9 million was due Texas Specialty Sands, LLC, and approximately $1.6 million was due ProFuel, LLC. No amounts were due Ortowski Construction and Timber Creek Real Estate Partners as of September 30, 2013 or December 31, 2012. | ||
In May 2012, the Company’s President and Chief Executive Officer was appointed as an independent director of the board of Linn Energy, LLC (Linn), an independent oil and gas development company with focus areas in the mid-continent, including the Permian Basin, the Hugoton Basin, the Powder River Basin, the Williston Basin, Michigan, and California. The Company recorded revenues from Linn of approximately $15.9 million and $14.7 million for the nine months ended September 30, 2013 and 2012, respectively. The Company had trade receivables from Linn of approximately $1.6 million and $3.3 million as of September 30, 2013 and December 31, 2012, respectively. | ||
Subsequent_Events
Subsequent Events | 9 Months Ended | |
Sep. 30, 2013 | ||
Subsequent Events [Abstract] | ' | |
Subsequent Events | ' | |
-16 | Subsequent Events | |
The Company has evaluated and disclosed all material subsequent events that occurred after the balance sheet date but before financial statements were issued. | ||
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended | |
Sep. 30, 2013 | ||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' | |
-16 | Recently Issued Accounting Pronouncements | |
In February 2013, the Financial Accounting Standards Board issued ASU 2013-02, “Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” (ASU 2013-02). ASU 2013-02 is an update to existing guidance on the presentation of comprehensive income. This update requires companies to report the effect of significant reclassifications out of accumulated other comprehensive income (AOCI) by component. For significant items reclassified out of AOCI to net income in their entirety during the reporting period, companies must report the effect on the line items in the statement where net income is presented. For significant items not reclassified to net income in their entirety during the period, companies must provide cross references in the notes to other disclosures that already provide information about those amounts. The Company adopted this update effective January 1, 2013, and it did not have a material impact on the condensed consolidated financial statements. | ||
Dispositions_Tables
Dispositions (Tables) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Dispositions [Abstract] | ' | |||
Components of income (loss) from discontinued operations | ' | |||
Revenues | $ 16,231 | |||
Loss from discontinued operations, net of tax benefit of $1,771 | -6,478 | |||
Loss on disposition, net of tax benefit of $2,391 | -10,729 | |||
Loss from discontinued operations, net of tax | $ (17,207) | |||
Decommissioning_Liabilities_Ta
Decommissioning Liabilities (Tables) | 9 Months Ended | |||||
Sep. 30, 2013 | ||||||
Decommissioning Liabilities [Abstract] | ' | |||||
Summary the activity for company's decommissioning liabilities | ' | |||||
2013 | 2012 | |||||
Decommissioning liabilities, December 31, 2012 and 2011, respectively | $ 93,053 | $ 123,176 | ||||
Liabilities acquired and incurred | 360 | 3,573 | ||||
Liabilities settled | -87 | -4,624 | ||||
Accretion | 4,269 | 3,260 | ||||
Revision in estimated liabilities | - | -34,373 | ||||
Long-term decommissioning liabilities, September 30, 2013 and 2012 , respectively | $ 97,595 | $ 91,012 | ||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Segment Information [Abstract] | ' | |||||||||||||
Summary of financial information for the Company's segments | ' | |||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||
Onshore | ||||||||||||||
Drilling | Completion | Subsea and | ||||||||||||
Products and | and Workover | Production | Technical | Consolidated | ||||||||||
Services | Services | Services | Solutions | Unallocated | Total | |||||||||
Revenues | $ 215,523 | $ 398,016 | $ 359,722 | $ 215,354 | $ - | $ 1,188,615 | ||||||||
Cost of services | ||||||||||||||
(exclusive of items shown separately below) | 73,873 | 275,676 | 251,575 | 146,928 | - | 748,052 | ||||||||
Depreciation, depletion, amortization and accretion | 42,391 | 52,576 | 45,553 | 17,486 | - | 158,006 | ||||||||
General and administrative expenses | 37,016 | 36,306 | 46,886 | 37,696 | - | 157,904 | ||||||||
Income from operations | 62,243 | 33,458 | 15,708 | 13,244 | - | 124,653 | ||||||||
Interest expense, net | - | - | - | 743 | -25,207 | -24,464 | ||||||||
Other income | - | - | - | - | 789 | 789 | ||||||||
Income (loss) from continuing operations | ||||||||||||||
before income taxes | $ 62,243 | $ 33,458 | $ 15,708 | $ 13,987 | $ (24,418) | $ 100,978 | ||||||||
Three Months Ended September 30, 2012 | ||||||||||||||
Onshore | ||||||||||||||
Drilling | Completion | Subsea and | ||||||||||||
Products and | and Workover | Production | Technical | Consolidated | ||||||||||
Services | Services | Services | Solutions | Unallocated | Total | |||||||||
Revenues | $ 194,882 | $ 421,194 | $ 373,868 | $ 189,721 | $ - | $ 1,179,665 | ||||||||
Cost of services | ||||||||||||||
(exclusive of items shown separately below) | 61,959 | 277,780 | 237,506 | 131,363 | - | 708,608 | ||||||||
Depreciation, depletion, amortization and accretion | 37,784 | 48,108 | 34,509 | 7,759 | - | 128,160 | ||||||||
General and administrative expenses | 32,380 | 43,109 | 52,830 | 35,139 | - | 163,458 | ||||||||
Income from operations | 62,759 | 52,197 | 49,023 | 15,460 | - | 179,439 | ||||||||
Interest expense, net | - | - | - | 697 | -29,282 | -28,585 | ||||||||
Other income | - | - | - | 467 | 467 | |||||||||
Loss on early extinguishment of debt | - | - | - | -2,294 | -2,294 | |||||||||
Income (loss) from continuing operations | ||||||||||||||
before income taxes | $ 62,759 | $ 52,197 | $ 49,023 | $ 16,157 | $ (31,109) | $ 149,027 | ||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||
Onshore | ||||||||||||||
Drilling | Completion | Subsea and | Consolidated | |||||||||||
Products and | and Workover | Production | Technical | |||||||||||
Services | Services | Services | Solutions | Unallocated | Total | |||||||||
Revenues | $ 614,924 | $ 1,222,215 | $ 1,096,185 | $ 550,483 | $ - | $ 3,483,807 | ||||||||
Cost of services | ||||||||||||||
(exclusive of items shown separately below) | 205,502 | 819,472 | 756,954 | 385,494 | - | 2,167,422 | ||||||||
Depreciation, depletion, amortization and accretion | 125,768 | 158,021 | 133,361 | 45,477 | - | 462,627 | ||||||||
General and administrative expenses | 105,180 | 114,747 | 140,970 | 104,138 | - | 465,035 | ||||||||
Income from operations | 178,474 | 129,975 | 64,900 | 15,374 | - | 388,723 | ||||||||
Interest expense, net | - | - | - | 2,195 | -81,141 | -78,946 | ||||||||
Other income | - | - | - | - | 2,062 | 2,062 | ||||||||
Loss on early extinguishment of debt | - | - | - | - | -884 | -884 | ||||||||
Income (loss) from continuing operations | ||||||||||||||
before income taxes | $ 178,474 | $ 129,975 | $ 64,900 | $ 17,569 | $ (79,963) | $ 310,955 | ||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||
Onshore | ||||||||||||||
Drilling | Completion | Subsea and | Consolidated | |||||||||||
Products and | and Workover | Production | Technical | |||||||||||
Services | Services | Services | Solutions | Unallocated | Total | |||||||||
Revenues | $ 582,389 | $ 1,176,239 | $ 1,141,649 | $ 489,544 | $ - | $ 3,389,821 | ||||||||
Cost of services | ||||||||||||||
(exclusive of items shown separately below) | 191,010 | 766,620 | 680,439 | 328,590 | - | 1,966,659 | ||||||||
Depreciation, depletion, amortization and accretion | 111,200 | 119,594 | 99,345 | 36,133 | - | 366,272 | ||||||||
General and administrative expenses | 100,875 | 140,453 | 159,645 | 96,025 | - | 496,998 | ||||||||
Income from operations | 179,304 | 149,572 | 202,220 | 28,796 | - | 559,892 | ||||||||
Interest income (expense), net | - | - | - | 2,107 | -91,057 | -88,950 | ||||||||
Other income (expense) | - | - | - | 562 | 562 | |||||||||
Loss on early extinguishment of debt | - | - | - | - | -2,294 | -2,294 | ||||||||
Gain on sale of equity method investment | - | - | - | - | 17,880 | 17,880 | ||||||||
Income (loss) from continuing operations | ||||||||||||||
before income taxes | $ 179,304 | $ 149,572 | $ 202,220 | $ 30,903 | $ (74,909) | $ 487,090 | ||||||||
Identifiable Assets | ' | |||||||||||||
Identifiable Assets | ||||||||||||||
Onshore | ||||||||||||||
Drilling | Completion | Subsea and | ||||||||||||
Products and | and Workover | Production | Technical | Consolidated | ||||||||||
Services | Services | Services | Solutions | Unallocated | Total | |||||||||
30-Sep-13 | $ 1,158,247 | $ 3,006,588 | $ 2,244,103 | $ 1,438,925 | $ - | $ 7,847,863 | ||||||||
31-Dec-12 | $ 1,086,804 | $ 3,223,984 | $ 2,185,779 | $ 1,295,134 | $ 11,185 | $ 7,802,886 | ||||||||
Company's information by geographic area | ' | |||||||||||||
Revenues: | Three Months | Nine Months | ||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
United States | $ 960,054 | $ 976,984 | $ 2,849,265 | $ 2,826,544 | ||||||||||
Other Countries | 228,561 | 202,681 | 634,542 | 563,277 | ||||||||||
Total | $ 1,188,615 | $ 1,179,665 | $ 3,483,807 | $ 3,389,821 | ||||||||||
Long-Lived Assets: | September 30, | ` | December 31, | |||||||||||
2013 | 2012 | |||||||||||||
United States | $ 2,611,837 | $ 2,684,932 | ||||||||||||
Other Countries | 625,513 | 570,288 | ||||||||||||
Total, net | $ 3,237,350 | $ 3,255,220 | ||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||
Reconciliation of Fair Value of Level 3 Inputs [Table Text Block] | ' | |||||||||
Balance as of December 31, 2012 | $ 9,890 | |||||||||
Settlements | -6,500 | |||||||||
Reduction in fair value of liability for | ||||||||||
additional consideration | -3,254 | |||||||||
Balance as of September 30, 2013 | $ 136 | |||||||||
Summary of financial assets and liabilities measured at fair value on recurring basis | ' | |||||||||
Fair Value Measurements at Reporting Date Using | ||||||||||
30-Sep-13 | Level 1 | Level 2 | Level 3 | |||||||
Inventory and other current assets | ||||||||||
Available-for-sale securities | $ 8,512 | $ 8,512 | - | - | ||||||
Intangible and other long-term assets, net | ||||||||||
Non-qualified deferred compensation assets | $ 13,045 | $ 1,963 | $ 11,082 | - | ||||||
Interest rate swaps | $ 616 | - | $ 616 | - | ||||||
Accrued Expenses | ||||||||||
Non-qualified deferred compensation liabilities | $ 1,944 | - | $ 1,944 | - | ||||||
Contingent consideration | $ 136 | - | - | $ 136 | ||||||
Other long-term liabilities | ||||||||||
Non-qualified deferred compensation liabilities | $ 14,050 | - | $ 14,050 | - | ||||||
31-Dec-12 | Level 1 | Level 2 | Level 3 | |||||||
Inventory and other current assets | ||||||||||
Available-for-sale securities | $ 9,224 | $ 9,224 | - | - | ||||||
Intangible and other long-term assets, net | ||||||||||
Non-qualified deferred compensation assets | $ 11,343 | $ 825 | $ 10,518 | - | ||||||
Interest rate swap | $ 1,286 | - | $ 1,286 | - | ||||||
Accounts payable | ||||||||||
Non-qualified deferred compensation liabilities | $ 125 | - | $ 125 | - | ||||||
Accrued expenses | ||||||||||
Contingent consideration | $ 9,890 | - | - | $ 9,890 | ||||||
Other long-term liabilities | ||||||||||
Non-qualified deferred compensation liabilities | $ 13,515 | - | $ 13,515 | - | ||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Derivative Financial Instruments [Abstract] | ' | ||||||||
Location and effect of the derivative instrument on the statements of operations | ' | ||||||||
Effect of derivative instrument | Location of (gain) loss | ||||||||
recognized | |||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | ||||||||
Interest rate swap | Interest expense, net | $ (513) | $ (1,079) | ||||||
Hedged item - debt | Interest expense, net | 615 | 682 | ||||||
$ 102 | $ (397) | ||||||||
Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | ||||||||
Interest rate swap | Interest expense, net | $ 7,383 | $ (4,235) | ||||||
Hedged item - debt | Interest expense, net | -6,886 | 3,196 | ||||||
$ 497 | $ (1,039) | ||||||||
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) (USD $) | 9 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Feb. 07, 2012 | Sep. 30, 2013 | Aug. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Feb. 07, 2012 | Sep. 30, 2012 | Sep. 30, 2012 |
Wireline and Well Testing Acquisition [Member] | Wireline and Well Testing Acquisition [Member] | Cementing Service Acquisitioin[Member] | Cementing Service Acquisitioin[Member] | Complete Production Services Inc [Member] | Complete Production Services Inc [Member] | Complete Production Services Inc [Member] | |||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, purchase price payable over next two years | ' | ' | ' | ' | $3.60 | ' | ' | ' | ' |
Cash paid to acquire equity interest | ' | ' | ' | ' | ' | 20.4 | 2,914.80 | ' | ' |
Complete stockholders received of a share of the company's common stock | ' | ' | ' | ' | ' | ' | 0.945 | ' | ' |
Business acquisition cost of acquired entity cash paid per share | ' | ' | ' | ' | ' | ' | $7 | ' | ' |
Approximately cash paid | ' | ' | ' | 37.6 | ' | ' | 553.3 | ' | ' |
Business acquisition Equity consideration paid number of shares | ' | ' | ' | ' | ' | ' | 74.7 | ' | ' |
Approximately cash acquisition | ' | ' | ' | ' | ' | ' | 2,308.20 | ' | ' |
Closing price of our common stock on the merger date | ' | ' | ' | ' | ' | ' | $30.90 | ' | ' |
Company will repay of complete debt | ' | ' | ' | ' | ' | ' | 676 | ' | ' |
Prepayment premium of senior notes | ' | ' | ' | ' | ' | ' | 26 | ' | ' |
Senior notes | ' | ' | ' | ' | ' | ' | 650 | ' | ' |
Stated interest rate on senior notes | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' |
Total acquisition cost, expense recorded | ' | ' | ' | ' | ' | ' | ' | 28.8 | 33.3 |
Goodwill acquired | ' | ' | ' | ' | ' | 15.1 | ' | ' | ' |
Maximum additional consideration for acquisitions payable through 2012 | 3.5 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | 100.00% | ' | 100.00% | ' | ' | ' |
Business acquisition, contingent consideration paid during the period | $6.50 | ' | $6.50 | ' | ' | ' | ' | ' | ' |
Dispositions_Narrative_Details
Dispositions (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Feb. 15, 2012 | Mar. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2012 | Mar. 31, 2012 |
Derrick Barge [Member] | Liftboats [Member] | Liftboats [Member] | Liftboats [Member] | Liftboats [Member] | Liftboats [Member] | |
item | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' |
Proceeds received | $44.50 | $138.60 | ' | ' | ' | ' |
Pre-tax gain loss after sale | 3.1 | ' | 10 | 46.1 | ' | 56.1 |
Goodwill | 9.7 | ' | ' | ' | ' | ' |
Quantity of liftboats sold | ' | ' | ' | ' | 18 | ' |
Repayment Of Us Government Guaranteed Long Term Financing Connected To Disposition | ' | 12.5 | ' | ' | ' | ' |
Make Whole Premiums Connected To Dispositions | ' | 4 | ' | ' | ' | ' |
Written Off Unamortized Loan Costs Connected To Repayments Of Make Whole Premiums | ' | 0.7 | ' | ' | ' | ' |
Loss on sale of assets, disposal group accounted for as discontinued operations | ' | ' | 3.6 | ' | ' | ' |
Costs Related To Disposition | ' | ' | $6.40 | ' | ' | ' |
Dispositions_Components_of_inc
Dispositions (Components of income (loss) from discontinued operations, net of tax) (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2012 |
Dispositions [Abstract] | ' |
Revenues | $16,231 |
Income tax expense (benefit) | 1,771 |
Gain (loss) on disposition, net of tax | -10,729 |
Income (loss) from discontinued operations, net of tax | -17,207 |
Gain (loss) on disposition, tax | 2,391 |
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax | ($6,478) |
StockBased_Compensation_and_Re
Stock-Based Compensation and Retirement Plans (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Stock Based Compensation and Retirement Plans [Abstract] | ' | ' |
Compensation expense | $27,700,000 | $30,000,000 |
Proceed from issue of shares under employee stock purchase plans | $1,939,000 | $2,193,000 |
Inventory_and_Other_Current_As1
Inventory and Other Current Assets (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2012 |
In Millions, unless otherwise specified | |||
Inventory and Other Current Assets [Abstract] | ' | ' | ' |
Inventory | $159.60 | $136.50 | ' |
Finished Goods | 64 | 63.7 | ' |
Work in progress | 17.6 | 6 | ' |
Raw materials | 22.1 | 5 | ' |
Supplies and consumables | $55.90 | $61.80 | $55.90 |
Inventory_and_Other_Current_As2
Inventory and Other Current Assets Additional Information (Details) (USD $) | 0 Months Ended | 6 Months Ended | 9 Months Ended | |
Share data in Millions, unless otherwise specified | Apr. 17, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Available-for-sale Securities [Abstract] | ' | ' | ' | ' |
Percentage of limited partnership interest | 10.00% | ' | 10.00% | ' |
Available-for-Sale Securities, Share Price | $7.33 | ' | ' | ' |
Number of shares comprising Available for Sale Securities | 7 | ' | 1.5 | ' |
Available-for-sale Equity Securities, Amortized Cost Basis | 51,600,000 | ' | ' | ' |
Equity Method Investment, Net Sales Proceeds | 34,100,000 | ' | ' | ' |
Available-for-sale Securities, Income Tax Expense on Change in Unrealized Holding Gain (Loss) | ' | ' | 200,000 | 400,000 |
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss), Net of Tax | ' | ' | 500,000 | 600,000 |
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss) before Taxes | ' | 1,000,000 | 700,000 | 1,000,000 |
Available-for-sale Securities, Current | ' | ' | $8,500,000 | ' |
Debt_Details
Debt (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | ||||||
Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 07, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Credit Facility [Member] | Credit Facility [Member] | Unsecured Senior Notes Due 2014 [Member] | Unsecured Senior Notes Due 2014 [Member] | Unsecured Senior Notes Due 2014 [Member] | Unsecured Senior Notes Due 2019 [Member] | Unsecured Senior Notes Due 2019 [Member] | Unsecured Senior Notes Due 2021 [Member] | |||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Facility, Term Loan Amount Outstanding | ' | ' | ' | ' | $370,000,000 | $370,000,000 | ' | ' | ' | ' | ' | ' |
Credit facility, total borrowing capacity | ' | ' | ' | ' | 1,000,000,000 | 1,000,000,000 | ' | ' | ' | ' | ' | ' |
Line of credit facility, revolving borrowing capacity | ' | ' | ' | ' | 600,000,000 | ' | ' | ' | ' | ' | ' | ' |
Face value of debt extinguished | ' | ' | ' | ' | ' | ' | ' | 100 | ' | ' | ' | ' |
Aggregate principal amount of term loan | ' | ' | ' | ' | 400,000,000 | 400,000,000 | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Periodic Payment | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | 56,000,000 | 56,000,000 | ' | ' | ' | ' | ' | ' |
Senior Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | 800,000,000 |
Stated interest rate on unsecured senior notes | ' | ' | ' | 8.00% | ' | ' | ' | ' | 6.00% | ' | 6.38% | ' |
Gains (Losses) on Extinguishment of Debt | -2,294,000 | -884,000 | -2,294,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Extinguishment of Debt, Amount | ' | ' | ' | ' | ' | ' | 150,000,000 | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' |
Earnings_per_Share_Details
Earnings per Share (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Stock options | 1,100,000 | 2,600,000 | 1,210,000 | 1,800,000 |
Decommissioning_Liabilities_De
Decommissioning Liabilities (Details) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Summary of the activity for the Company's decommissioning liabilities | ' | ' | ' |
Decommissioning liabilities, December 31, 2011 and 2010, respectively | $93,053 | $123,176 | ' |
Liabilities acquired and incurred | 360 | 3,573 | ' |
Liabilities settled | -87 | -4,624 | ' |
Accretion | 4,269 | 3,260 | ' |
Revision estimated liabilities | ' | -34,373 | ' |
Total decommissioning liabilities, June 30, 2012 and 2011, respectively | 97,595 | 91,012 | ' |
Long-term decommissioning liabilities, June 30, 2012 and 2011, respectively | $97,595 | ' | $93,053 |
Notes_Receivable_Details
Notes Receivable (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Notes Receivable [Abstract] | ' | ' |
Amount of notes receivable net | $115 | ' |
Interest rate percentage to record present value of notes receivable | 6.58% | ' |
Company recorded interest income | $2.20 | $2.10 |
Segment_Information_Financial_
Segment Information (Financial information for Company's segments) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | $1,188,615 | $1,179,665 | $3,483,807 | $3,389,821 | ' |
Cost of services (exclusive of items shown separately below) | 748,052 | 708,608 | 2,167,422 | 1,966,659 | ' |
Depreciation, depletion, amortization and accretion | 158,006 | 128,160 | 462,627 | 366,272 | ' |
General and administrative expenses | 157,904 | 163,458 | 465,035 | 496,998 | ' |
Income from operations | 124,653 | 179,439 | 388,723 | 559,892 | ' |
Interest income (expense), net | -24,464 | -28,585 | -78,946 | -88,950 | ' |
Other Nonoperating Income (Expense) | 789 | 467 | 2,062 | 562 | ' |
Loss on early extinguishment of debt | ' | -2,294 | -884 | -2,294 | ' |
Gain loss from Equity method investment | ' | ' | ' | 17,880 | ' |
Income (loss) from continuing operations before income taxes | 100,978 | 149,027 | 310,955 | 487,090 | ' |
Identifiable Assets | 7,847,863 | ' | 7,847,863 | ' | 7,802,886 |
Subsea and Technical Solutions [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 215,354 | 189,721 | ' | 489,544 | ' |
Cost of services (exclusive of items shown separately below) | 146,928 | 131,363 | ' | 328,590 | ' |
Depreciation, depletion, amortization and accretion | 17,486 | 7,759 | ' | 36,133 | ' |
General and administrative expenses | 37,696 | 35,139 | ' | 96,025 | ' |
Income from operations | 13,244 | 15,460 | ' | 28,796 | ' |
Interest income (expense), net | 743 | 697 | ' | 2,107 | ' |
Income (loss) from continuing operations before income taxes | 13,987 | 16,157 | ' | 30,903 | ' |
Identifiable Assets | 1,438,925 | ' | 1,438,925 | ' | 1,295,134 |
Production Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 359,722 | 373,868 | 1,096,185 | 1,141,649 | ' |
Cost of services (exclusive of items shown separately below) | 251,575 | 237,506 | 756,954 | 680,439 | ' |
Depreciation, depletion, amortization and accretion | 45,553 | 34,509 | 133,361 | 99,345 | ' |
General and administrative expenses | 46,886 | 52,830 | 140,970 | 159,645 | ' |
Income from operations | 15,708 | 49,023 | 64,900 | 202,220 | ' |
Income (loss) from continuing operations before income taxes | 15,708 | 49,023 | 64,900 | 202,220 | ' |
Identifiable Assets | 2,244,103 | ' | 2,244,103 | ' | 2,185,779 |
Onshore Completion and Workover Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 398,016 | 421,194 | 1,222,215 | 1,176,239 | ' |
Cost of services (exclusive of items shown separately below) | 275,676 | 277,780 | 819,472 | 766,620 | ' |
Depreciation, depletion, amortization and accretion | 52,576 | 48,108 | 158,021 | 119,594 | ' |
General and administrative expenses | 36,306 | 43,109 | 114,747 | 140,453 | ' |
Income from operations | 33,458 | 52,197 | 129,975 | 149,572 | ' |
Income (loss) from continuing operations before income taxes | 33,458 | 52,197 | 129,975 | 149,572 | ' |
Identifiable Assets | 3,006,588 | ' | 3,006,588 | ' | 3,223,984 |
Subsea and Well Enhancement [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | ' | ' | 550,483 | ' | ' |
Cost of services (exclusive of items shown separately below) | ' | ' | 385,494 | ' | ' |
Depreciation, depletion, amortization and accretion | ' | ' | 45,477 | ' | ' |
General and administrative expenses | ' | ' | 104,138 | ' | ' |
Income from operations | ' | ' | 15,374 | ' | ' |
Interest income (expense), net | ' | ' | 2,195 | ' | ' |
Income (loss) from continuing operations before income taxes | ' | ' | 17,569 | ' | ' |
Drilling Products and Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 215,523 | 194,882 | 614,924 | 582,389 | ' |
Cost of services (exclusive of items shown separately below) | 73,873 | 61,959 | 205,502 | 191,010 | ' |
Depreciation, depletion, amortization and accretion | 42,391 | 37,784 | 125,768 | 111,200 | ' |
General and administrative expenses | 37,016 | 32,380 | 105,180 | 100,875 | ' |
Income from operations | 62,243 | 62,759 | 178,474 | 179,304 | ' |
Income (loss) from continuing operations before income taxes | 62,243 | 62,759 | 178,474 | 179,304 | ' |
Identifiable Assets | 1,158,247 | ' | 1,158,247 | ' | 1,086,804 |
Unallocated [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest income (expense), net | -25,207 | -29,282 | -81,141 | -91,057 | ' |
Other Nonoperating Income (Expense) | 789 | 467 | 2,062 | 562 | ' |
Loss on early extinguishment of debt | ' | -2,294 | -884 | -2,294 | ' |
Gain loss from Equity method investment | ' | ' | ' | 17,880 | ' |
Income (loss) from continuing operations before income taxes | -24,418 | -31,109 | -79,963 | -74,909 | ' |
Identifiable Assets | ' | ' | ' | ' | $11,185 |
Segment_Information_Companys_i
Segment Information (Company's information by geographic area) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Dec. 31, 2012 |
Segment Information [Abstract] | ' | ' | ' | ' | ' | ' |
United States, Revenue | $960,054 | $976,984 | $2,849,265 | $2,826,544 | ' | ' |
Other Countries, Revenue | 228,561 | 202,681 | 634,542 | 563,277 | ' | ' |
Total, Revenues | 1,188,615 | 1,179,665 | 3,483,807 | 3,389,821 | ' | ' |
United States, Long-lived assets | 2,611,837 | ' | 2,611,837 | ' | ' | 2,684,932 |
Other Countries, Long-lived assets | 625,513 | ' | 625,513 | ' | ' | 570,288 |
Total, Long-lived assets | $3,237,350 | ' | $3,237,350 | ' | $3,237,350 | $3,255,220 |
Guarantee_Details
Guarantee (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Millions, unless otherwise specified | ||
Guarantee [Abstract] | ' | ' |
Decommissioning performance guarantees, estimated value | $2.60 | $2.60 |
Maximum potential obligation under Decommissioning performance guarantees | 105.1 | ' |
Contractual right to receive payments from third parties | $24.60 | ' |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 0 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Apr. 17, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Feb. 29, 2012 |
Fair Value Measurements [Abstract] | ' | ' | ' | ' | ' |
Business acquisition, contingent consideration paid during the period | ' | $6.50 | ' | ' | ' |
Percentage of limited partnership interest | 10.00% | 10.00% | ' | ' | ' |
Adjustment Interval of Variable Rate on Interest Rate Swap | ' | ' | 90 | ' | ' |
Number of shares comprising Available for Sale Securities | 7 | 1.5 | ' | ' | ' |
Interest rate swap agreement for notional amount | ' | 100 | ' | ' | 150 |
Selling of interest rate swap | ' | ' | ' | ' | 1.2 |
Fair value of long term debt | ' | 1,772.80 | ' | 1,960 | ' |
Business Acquisition, Contingent Consideration, at Fair Value | ' | 0.1 | ' | ' | ' |
Business Acquisition, Contingent Consideration, Potential Cash Payment | ' | $3.50 | ' | ' | ' |
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 $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Non-Qualified Deferred Compensation Assets [Member] | Non-Qualified Deferred Compensation Assets [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Non Qualified Deferred Compensation Liabilities [Member] | Non Qualified Deferred Compensation Liabilities [Member] | Contingent Consideration [Member] | Contingent Consideration [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | ||
Non-Qualified Deferred Compensation Assets [Member] | Non-Qualified Deferred Compensation Assets [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Non Qualified Deferred Compensation Liabilities [Member] | Non Qualified Deferred Compensation Liabilities [Member] | Contingent Consideration [Member] | Contingent Consideration [Member] | Non-Qualified Deferred Compensation Assets [Member] | Non-Qualified Deferred Compensation Assets [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Non Qualified Deferred Compensation Liabilities [Member] | Non Qualified Deferred Compensation Liabilities [Member] | Contingent Consideration [Member] | Contingent Consideration [Member] | Non-Qualified Deferred Compensation Assets [Member] | Non-Qualified Deferred Compensation Assets [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Non Qualified Deferred Compensation Liabilities [Member] | Non Qualified Deferred Compensation Liabilities [Member] | Contingent Consideration [Member] | Contingent Consideration [Member] | |||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible and other long-term assets | ' | ' | $13,045 | $11,343 | $616 | $1,286 | ' | ' | ' | ' | ' | ' | $1,963 | $825 | ' | ' | ' | ' | ' | ' | ' | ' | $11,082 | $10,518 | $1,286 | $616 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | ' | ' | ' | ' | ' | ' | ' | 125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other long-term liabilities | ' | ' | ' | ' | ' | ' | 14,050 | 13,515 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,050 | 13,515 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 8,512 | 9,224 | ' | ' | ' | ' | ' | ' | ' | ' | 8,512 | 9,224 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued Liabilities, Fair Value Disclosure | ' | ' | ' | ' | ' | ' | $1,944 | ' | $136 | $9,890 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,944 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $136 | $9,890 |
Fair_Value_Measurements_Level_
Fair Value Measurements (Level 3 Reconciliation) (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value Measurements [Abstract] | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | ($6,500) | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings | -3,254 | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | $136 | $9,890 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Narrative) (Details) (USD $) | 9 Months Ended | |||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Dec. 31, 2012 | Feb. 29, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2012 |
July 2013 Interest Rate Swap [Member] | Interest Rate Swap Sold 2012 [Member] | Interest Rate Swap Sold 2012 [Member] | ||||||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustment Interval of Variable Rate on Interest Rate Swap | ' | ' | 90 | ' | ' | ' | ' | ' |
Derivative asset | $0.60 | ' | ' | $1.30 | ' | ' | ' | ' |
Selling of interest rate swap | ' | ' | ' | ' | 1.2 | ' | ' | 1.2 |
Interest income (expense) related to the ineffectiveness associated with the fair value hedge | 0.5 | 1 | ' | ' | ' | ' | ' | ' |
Interest rate swap agreement for notional amount | $100 | ' | ' | ' | $150 | $100 | $150 | ' |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (The location and effect of the derivative instrument on the condensed consolidated statement of operations, pre-tax basis) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, (Gain) Loss [Line Items] | ' | ' | ' | ' |
Amount of (gain) loss recognized | $102 | ($397) | $497 | ($1,039) |
Hedged Item Debt [Member] | Interest Expense, Net [Member] | ' | ' | ' | ' |
Derivative Instruments, (Gain) Loss [Line Items] | ' | ' | ' | ' |
Amount of (gain) loss recognized | 615 | 682 | -6,886 | 3,196 |
Interest Rate Swap [Member] | Interest Expense, Net [Member] | ' | ' | ' | ' |
Derivative Instruments, (Gain) Loss [Line Items] | ' | ' | ' | ' |
Amount of (gain) loss recognized | ($513) | ($1,079) | $7,383 | ($4,235) |
Income_Taxes_Details
Income Taxes (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Millions, unless otherwise specified | ||
Income Taxes [Abstract] | ' | ' |
Effective income tax rate after adjustment | 35.00% | ' |
Effective income tax rate prior to adjustment | 37.00% | ' |
Unrecorded tax benefits | $27.80 | $26.40 |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Jan. 26, 2010 |
Commitments and Contingencies (Textual) [Abstract] | ' | ' | ' | ' |
Period for Lease Renewal | '2 years | ' | ' | ' |
Interest of Subsidiary in Lease Assets Owned Entity | 5.00% | ' | ' | ' |
Vessel's gross asset value under the capital lease at inception | ' | ' | ' | $37.60 |
Vessel's gross asset value under the capital lease at depreciation | 15.3 | ' | 12.2 | ' |
Other long-term liabilities | 22.5 | ' | 25.6 | ' |
Accounts Payable Related to Obligations Under Capital Lease | 4.1 | ' | 3.9 | ' |
2012 | 1 | ' | ' | ' |
2013 | 4.2 | ' | ' | ' |
2014 | 4.6 | ' | ' | ' |
2015 | 5 | ' | ' | ' |
2016 | 5.4 | ' | ' | ' |
2017 | 5.9 | ' | ' | ' |
Capital Leases of Lessee Variable Rate of Interest | 8.50% | ' | ' | ' |
Interest Expense | $1.80 | $2 | ' | ' |
Related_Party_Disclosure_Detai
Related Party Disclosure (Details) (USD $) | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Purchase of services | $140.70 | $188 | ' |
Trade Accounts Payable | 14.7 | 23.2 | ' |
Ortowski Construction [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Purchase of services | 0.1 | 4 | ' |
ORTEQ Energy Services [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Purchase of services | 41.1 | 90.9 | ' |
Trade Accounts Payable | 2.8 | 13.4 | ' |
Resource Transport [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Purchase of services | 11.9 | 8 | ' |
Trade Accounts Payable | 1.3 | 1.3 | ' |
Texas Specialty Sands [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Purchase of services | 64.6 | 70.6 | ' |
Trade Accounts Payable | 8.2 | 6.9 | ' |
ProFuel LLC [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Purchase of services | 22.6 | 13.4 | ' |
Trade Accounts Payable | 2.4 | 1.6 | ' |
TIMBER CREEK REAL ESTATE PARTNERS [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Purchase of services | 0.4 | 1.1 | ' |
LINNENERGY[MEMBER] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Revenue from Related Parties | 15.9 | 14.7 | ' |
Accounts Receivable, Related Parties, Current | $1.60 | ' | $3.30 |