| Reportable Segments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
|
Operations by Reportable
Industry Segment
|
|
2012 |
|
|
2011 |
|
|
2012 |
|
|
2011 |
|
| |
|
(Dollars in
Thousands) |
|
|
(Dollars in
Thousands) |
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
Rental Tools
|
|
$ |
59,947 |
|
|
$ |
62,388 |
|
|
$ |
191,233 |
|
|
$ |
173,197 |
|
|
U.S. Barge
Drilling
|
|
|
33,142 |
|
|
|
28,895 |
|
|
|
94,269 |
|
|
|
70,876 |
|
|
U.S. Drilling(2)
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
International
Drilling
|
|
|
68,503 |
|
|
|
79,591 |
|
|
|
224,176 |
|
|
|
229,250 |
|
|
Technical
Services
|
|
|
3,709 |
|
|
|
5,715 |
|
|
|
11,117 |
|
|
|
22,619 |
|
|
Construction
Contract
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9,638 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
165,301 |
|
|
|
176,589 |
|
|
|
520,795 |
|
|
|
505,580 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating gross
margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rental Tools(1)
|
|
|
27,032 |
|
|
|
33,389 |
|
|
|
91,885 |
|
|
|
88,052 |
|
|
U.S. Barge
Drilling(1)
|
|
|
11,042 |
|
|
|
6,732 |
|
|
|
29,215 |
|
|
|
8,502 |
|
|
U.S. Drilling(1)
|
|
|
(4,712 |
) |
|
|
(1,334 |
) |
|
|
(7,881 |
) |
|
|
(2,015 |
) |
|
International
Drilling(1)
|
|
|
783 |
|
|
|
10,017 |
|
|
|
21,395 |
|
|
|
12,141 |
|
|
Technical
Services(1)
|
|
|
(107 |
) |
|
|
1,162 |
|
|
|
(118 |
) |
|
|
4,518 |
|
|
Construction
Contract(1)
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
771 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating gross
margin
|
|
|
34,038 |
|
|
|
49,966 |
|
|
|
134,496 |
|
|
|
111,969 |
|
|
General and administrative
expense
|
|
|
(8,905 |
) |
|
|
(8,630 |
) |
|
|
(21,822 |
) |
|
|
(23,384 |
) |
|
Gain on disposition of
assets, net
|
|
|
606 |
|
|
|
623 |
|
|
|
2,466 |
|
|
|
1,993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
income
|
|
|
25,739 |
|
|
|
41,959 |
|
|
|
115,140 |
|
|
|
90,578 |
|
|
Interest expense
|
|
|
(8,171 |
) |
|
|
(5,591 |
) |
|
|
(25,133 |
) |
|
|
(17,208 |
) |
|
Interest income
|
|
|
30 |
|
|
|
29 |
|
|
|
109 |
|
|
|
208 |
|
|
Changes in fair value of
derivative positions
|
|
|
19 |
|
|
|
(49 |
) |
|
|
8 |
|
|
|
(186 |
) |
|
Loss on extinguishment of
debt
|
|
|
(117 |
) |
|
|
— |
|
|
|
(1,766 |
) |
|
|
— |
|
|
Other
|
|
|
26 |
|
|
|
(657 |
) |
|
|
62 |
|
|
|
(522 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income
taxes
|
|
$ |
17,526 |
|
|
$ |
35,691 |
|
|
$ |
88,420 |
|
|
$ |
72,870 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|