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10-Q
SUPERIOR ENERGY SERVICES INC filed this Form 10-Q on 10/26/2016
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Nine Months Ended September 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

Onshore

 

 

 

 

 

 

 

 

 

 

 

 



 

Drilling

 

Completion

 

 

 

 

 

 

 

 

 

 

 



 

Products and

 

and Workover

 

Production

 

Technical

 

 

 

 

Consolidated



 

Services

 

Services

 

Services

 

Solutions

 

Unallocated

 

Total

Revenues

 

$

240,773 

 

$

373,387 

 

$

250,829 

 

$

230,640 

 

$

 -

 

$

1,095,629 

Cost of services and rentals (exclusive of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

depreciation, depletion, amortization and accretion)

 

 

102,308 

 

 

363,447 

 

 

201,002 

 

 

135,385 

 

 

 -

 

 

802,142 

Depreciation, depletion, amortization and accretion

 

 

130,749 

 

 

158,885 

 

 

68,041 

 

 

34,342 

 

 

 -

 

 

392,017 

General and administrative expenses

 

 

76,974 

 

 

68,250 

 

 

55,643 

 

 

69,600 

 

 

 -

 

 

270,467 

Reduction in value of assets

 

 

47,659 

 

 

188,741 

 

 

226,061 

 

 

 -

 

 

 -

 

 

462,461 

Loss from operations

 

 

(116,917)

 

 

(405,936)

 

 

(299,918)

 

 

(8,687)

 

 

 -

 

 

(831,458)

Interest expense, net

 

 

 -

 

 

 -

 

 

(1,330)

 

 

2,669 

 

 

(69,664)

 

 

(68,325)

Other expense

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

22,103 

 

 

22,103 

Loss from continuing operations
   before income taxes

 

$

(116,917)

 

$

(405,936)

 

$

(301,248)

 

$

(6,018)

 

$

(47,561)

 

$

(877,680)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

Onshore

 

 

 

 

 

 

 

 

 

 

 

 



 

Drilling

 

Completion

 

 

 

 

 

 

 

 

 

 

 

 



 

Products and

 

and Workover

 

Production

 

Technical

 

 

 

 

Consolidated



 

Services

 

Services

 

Services

 

Solutions

 

Unallocated

 

Total

Revenues

 

$

471,501 

 

$

780,455 

 

$

623,985 

 

$

353,474 

 

$

 -

 

$

2,229,415 

Cost of services and rentals (exclusive of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

depreciation, depletion, amortization and accretion)

 

 

153,350 

 

 

610,876 

 

 

477,752 

 

 

226,286 

 

 

 -

 

 

1,468,264 

Depreciation, depletion, amortization and accretion

 

 

146,541 

 

 

169,106 

 

 

105,463 

 

 

46,219 

 

 

 -

 

 

467,329 

General and administrative expenses

 

 

98,292 

 

 

101,093 

 

 

113,500 

 

 

90,927 

 

 

 -

 

 

403,812 

Reduction in value of assets

 

 

15,797 

 

 

780,263 

 

 

767,209 

 

 

 -

 

 

 -

 

 

1,563,269 

Income (loss) from operations

 

 

57,521 

 

 

(880,883)

 

 

(839,939)

 

 

(9,958)

 

 

 -

 

 

(1,673,259)

Interest expense, net

 

 

 -

 

 

 -

 

 

(979)

 

 

1,271 

 

 

(71,505)

 

 

(71,213)

Other expense

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

(10,620)

 

 

(10,620)

Income (loss) from continuing operations
   before income taxes

 

$

57,521 

 

$

(880,883)

 

$

(840,918)

 

$

(8,687)

 

$

(82,125)

 

$

(1,755,092)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Identifiable Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

Onshore

 

 

 

 

 

 

 

 

 

 

 

 



 

Drilling

 

Completion

 

 

 

 

 

 

 

 

 

 

 



 

Products and

 

and Workover

 

Production

 

Technical

 

 

 

 

Consolidated



 

Services

 

Services

 

Services

 

Solutions

 

Unallocated

 

Total

September 30, 2016

 

$

934,094 

 

$

1,556,485 

 

$

563,915 

 

$

589,326 

 

$

 -

 

$

3,643,820 

December 31, 2015

 

$

1,223,191 

 

$

1,929,185 

 

$

967,719 

 

$

794,149 

 

$

 -

 

$

4,914,244 



Geographic Segments



The Company attributes revenue to various countries based on the location of where services are performed or the destination of the drilling products or equipment sold or rented.  Long-lived assets consist primarily of property, plant and equipment and are attributed to various countries based on the physical location of the asset at the end of a period.  The Company’s revenue attributed to the U.S. and to other countries and the value of its long-lived assets by those locations are as follows (in thousands):













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