Quarterly report pursuant to Section 13 or 15(d)

Consolidated Condensed Balance Sheets

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Consolidated Condensed Balance Sheets (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 67,495 $ 51,431
Accounts and notes receivable, net of allowance for bad debts of $3,226 and $7,020 at June 30, 2011 and December 31, 2010 183,209 168,876
Rig materials and supplies 25,216 25,527
Deferred costs 4,525 2,229
Deferred income taxes 7,263 9,278
Other tax assets 42,146 46,429
Assets held for sale 5,287 5,287
Other current assets 13,700 59,067
Total current assets 348,841 368,124
Property, plant and equipment less accumulated depreciation and amortization of $921,314 and $875,179 at June 30, 2011 and December 31, 2010 855,822 816,147
Deferred income taxes 52,384 61,016
Other noncurrent assets 27,189 29,268
Total assets 1,284,236 1,274,555
Current liabilities:    
Current portion of long-term debt 24,000 12,000
Accounts payable and accrued liabilities 131,791 158,771
Accrued income taxes 3,911 4,492
Total current liabilities 159,702 175,263
Long-term debt 467,730 460,862
Other long-term liabilities 31,813 30,193
Long-term deferred tax liability 14,397 20,171
Contingencies (Note 9)    
Stockholders' equity:    
Common stock 19,446 19,397
Capital in excess of par value 633,997 630,409
Accumulated deficit (42,492) (61,493)
Total controlling interest stockholders' equity 610,951 588,313
Noncontrolling interest (357) (247)
Total equity 610,594 588,066
Total liabilities and stockholders' equity $ 1,284,236 $ 1,274,555