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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2011
Document and Entity Information [Abstract]
Entity Registrant Name	SUPERIOR ENERGY SERVICES INC
Entity Central Index Key	0000886835
Document Type	8-K
Document Period End Date	Dec. 31, 2011
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Current assets:
Cash and cash equivalents	$ 80,274	$ 50,727	$ 206,505	$ 44,853
Accounts receivable, net of allowance for doubtful accounts of $17484 and $22,618 at December 31, 2011 and 2010, respectively	540,602	452,450
Prepaid expenses	34,037	25,828
Inventory and other current assets	228,309	235,047
Total current assets	883,222	764,052
Property, plant and equipment, net	1,507,368	1,313,150
Goodwill	581,379	588,000	482,480
Notes receivable	73,568	69,026
Equity-method investments	72,472	59,322
Intangible and other long-term assets, net	930,136	113,983
Total assets	4,048,145	2,907,533	2,516,665
Current liabilities:
Accounts payable	178,645	110,276
Accrued expenses	197,574	162,044
Income taxes payable	717	2,475
Deferred income taxes	831	29,353
Current portion of decommissioning liabilities	14,956	16,929
Current maturities of long-term debt	810	184,810
Total current liabilities	393,533	505,887
Deferred income taxes	297,458	223,936
Decommissioning liabilities	108,220	100,787
Long-term debt, net	1,685,087	681,635
Other long-term liabilities	110,248	114,737
Stockholders' equity:
Preferred stock of $0.01 par value. Authorized, 5,000,000 shares; none issued
Common stock of $0.001 par value. Authorized, 125,000,000 shares; issued and outstanding 80,425,443 and 78,951,053 shares at December 31, 2011 and 2010, respectively	80	79
Additional paid in capital	447,007	415,278
Accumulated other comprehensive loss, net	(26,936)	(25,700)
Retained earnings	1,033,448	890,894
Total stockholders' equity	1,453,599	1,280,551	$ 1,178,045	$ 1,254,273
Total liabilities and stockholders' equity	$ 4,048,145	$ 2,907,533

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Consolidated Balance Sheets [Abstract]
Allowance for doubtful accounts	$ 17,484	$ 22,618
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	$ 0.001	$ 0.001
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	80,425,443	78,951,053
Common stock, shares outstanding	80,425,443	78,951,053

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Consolidated Statements of Operations [Abstract]
Revenues	$ 1,964,332	$ 1,563,043	$ 1,320,641
Costs and expenses:
Cost of services, rentals, and sales (exclusive of items shown separately below)	1,046,409	848,492	751,530
Depreciation, depletion, amortization and accretion	244,915	208,097	193,992
General and administrative expenses	376,619	332,602	243,988
Reduction in value of assets			212,527
Income (loss) from operations	296,389	173,852	(81,396)
Other income (expense):
Interest expense, net of amounts capitalized	(72,994)	(56,480)	(49,702)
Interest income	6,226	5,135	926
Other income (expense)	(822)	825	571
Earnings (losses) from equity-method investments, net	16,394	8,245	(22,600)
Reduction in value of equity-method investment			(36,486)
Income (loss) from continuing operations before income taxes	245,193	131,577	(188,687)
Income taxes	85,804	45,431	(68,147)
Net income (loss) from continuing operations	159,389	86,146	(120,540)
Income (loss) from discontinued operations, net of income tax	(16,835)	(4,329)	18,217
Net income (loss)	$ 142,554	$ 81,817	$ (102,323)
Earnings Per Share, Basic [Abstract]
Income (loss) from continuing operations	$ 2.00	$ 1.09	$ (1.54)
Income (loss) from discontinued operations	(0.21)	(0.05)	0.23
Net income (loss)	1.79	1.04	(1.31)
Earnings Per Share, Diluted [Abstract]
Income (loss) from continuing operations	1.97	1.08	(1.54)
Income (loss) from discontinued operations	(0.21)	(0.05)	0.23
Net income (loss)	$ 1.76	$ 1.03	$ (1.31)
Weighted average common shares used in computing earnings per share:
Basic	79,654	78,758	78,171
Incremental common shares from stock options	1,271	840
Incremental common shares from restricted stock units	170	136
Diluted	81,095	79,734	78,171

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 142,554	$ 81,817	$ (102,323)
Disposition of hedging positions of equity-method investments, net of tax			(3,881)
Change in cumulative translation adjustment	(1,236)	(6,704)	17,526
Comprehensive income (loss)	$ 141,318	$ 75,113	$ (88,678)

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

- Definition

Net of tax effect change in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges after taxes. A cash flow hedge is a hedge of the exposure to variability in the cash flows of a recognized asset or liability or a forecasted transaction that is attributable to a particular risk. The change includes an entity's share of an equity investee's increase or decrease in deferred hedging gains or losses. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.

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+ Details

- Definition

Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity, net of tax.

+ References

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+ Details

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive income (loss), net	Retained earnings
Beginning Balance at Dec. 31, 2008	$ 1,254,273	$ 78	$ 375,436	$ (32,641)	$ 911,400
Beginning Balance, Shares at Dec. 31, 2008		78,028,072
Net income (loss)	(102,323)				(102,323)
Disposition of hedging positions of equity-method investments, net of tax	(3,881)			(3,881)
Foreign currency translation adjustment	17,526			17,526
Grant of restricted stock units	700		700
Restricted stock grant and compensation expense, net of forfeitures, value	5,838	$ 1	5,837
Restricted stock grant and compensation expense, net of forfeitures, shares		305,182
Exercise of stock options, value	$ 375		375
Exercise of stock options, shares	38,717	38,717
Tax benefit from exercise of stock options	$ 170		170
Stock option compensation expense	2,401		2,401
Shares issued to pay performance share unit	920		920
Shares issued to pay performance share unit, shares		71,392
Shares issued under Employee Stock Purchase Plan, value	2,308		2,308
Shares issued under Employee Stock Purchase Plan, shares		133,360
Shares withheld and retired, value	(262)		(262)
Shares withheld and retired, shares		(17,373)
Ending Balance, Shares at Dec. 31, 2009		78,559,350
Ending Balance at Dec. 31, 2009	1,178,045	$ 79	387,885	(18,996)	809,077
Net income (loss)	81,817				81,817
Foreign currency translation adjustment	(6,704)			(6,704)
Grant of restricted stock units	950		950
Restricted stock grant and compensation expense, net of forfeitures, value	11,367		11,367
Restricted stock grant and compensation expense, net of forfeitures, shares		342,694
Exercise of stock options, value	$ 927		927
Exercise of stock options, shares	87,150	87,150
Tax benefit from exercise of stock options	$ 560		560
Stock option compensation expense	15,493		15,493
Shares issued under Employee Stock Purchase Plan, value	2,233		2,233
Shares issued under Employee Stock Purchase Plan, shares		94,250
Shares withheld and retired, value	(4,137)		(4,137)
Shares withheld and retired, shares		(132,391)
Ending Balance, Shares at Dec. 31, 2010		78,951,053
Ending Balance at Dec. 31, 2010	1,280,551	$ 79	415,278	(25,700)	890,894
Net income (loss)	142,554				142,554
Foreign currency translation adjustment	(1,236)			(1,236)
Grant of restricted stock units	1,140		1,140
Restricted stock grant and compensation expense, net of forfeitures, value	5,996		5,996
Restricted stock grant and compensation expense, net of forfeitures, shares		541,425
Exercise of stock options, value	$ 10,263	$ 1	10,262
Exercise of stock options, shares	876,435	876,435
Tax benefit from exercise of stock options	$ 9,004		9,004
Stock option compensation expense	3,348		3,348
Shares issued to pay performance share unit	2,759		2,759
Shares issued to pay performance share unit, shares		67,288
Shares issued under Employee Stock Purchase Plan, value	2,594		2,594
Shares issued under Employee Stock Purchase Plan, shares		75,745
Share issuance cost	(335)		(335)
Shares withheld and retired, value	(3,039)		(3,039)
Shares withheld and retired, shares		(86,503)
Ending Balance, Shares at Dec. 31, 2011		80,425,443
Ending Balance at Dec. 31, 2011	$ 1,453,599	$ 80	$ 447,007	$ (26,936)	$ 1,033,448

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash flows from operating activities:
Net income (loss)	$ 142,554	$ 81,817	$ (102,323)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	257,313	220,835	207,114
Deferred income taxes	48,073	8,276	(74,704)
Excess tax benefit from stock-based compensation	(9,004)	(560)	(170)
Reduction in value of assets	46,096	32,004	212,527
Reduction in value of equity-method investments			36,486
Stock based and performance share unit compensation expense	14,032	27,207	11,785
Retirement and deferred compensation plans expense	1,990	4,825	1,550
(Earnings) losses from equity-method investments, net of cash received	(13,152)	2,905	28,606
Amortization of debt acquisition costs and note discount	25,178	23,954	21,744
Gain on sale of businesses	(8,558)	(1,083)	(2,084)
Other reconciling items, net	(6,426)	(4,708)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	(86,814)	(89,800)	25,609
Inventory and other current assets	2,182	85,687	(51,320)
Accounts payable	40,289	20,303	(24,637)
Accrued expenses	24,961	14,754	(41,264)
Decommissioning liabilities	(504)	(1,759)
Income taxes	(1,378)	10,510	(2,301)
Other, net	15,972	20,806	29,485
Net cash provided by operating activities	492,804	455,973	276,103
Cash flows from investing activities:
Payments for capital expenditures	(484,648)	(323,244)	(286,277)
Acquisitions of businesses, net of cash acquired	(1,748)	(276,077)	(1,247)
Proceeds from sale of businesses	22,349	5,250	7,716
Change in restricted cash held for acquisition of a business	(785,280)
Purchases of short-term investments	(223,491)
Proceeds from sale of short-term investments	223,630
Cash contributed to equity-method investment			(8,694)
Other	(721)	(9,402)	(3,769)
Net cash used in investing activities	(1,249,909)	(603,473)	(292,271)
Cash flows from financing activities:
Net (payments) borrowings from revolving line of credit	(100,000)	(2,000)	177,000
Proceeds from issuance of long-term debt	1,300,000
Principal payments of long-term debt	(400,810)	(810)	(810)
Payment of debt issuance costs	(24,428)	(5,182)	(2,308)
Proceeds from exercise of stock options	10,263	927	375
Excess tax benefit from stock-based compensation	9,004	560	170
Proceeds from issuance of stock through employee benefit plans	2,206	1,891	1,958
Other	(9,662)	(3,443)
Net cash provided by (used in) financing activities	786,573	(8,057)	176,385
Effect of exchange rate changes on cash	79	(221)	1,435
Net increase (decrease) in cash and cash equivalents	29,547	(155,778)	161,652
Cash and cash equivalents at beginning of year	50,727	206,505	44,853
Cash and cash equivalents at end of year	$ 80,274	$ 50,727	$ 206,505

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2011

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

(1)	Summary of Significant Accounting Policies

(a)

Basis of Presentation

The consolidated financial statements include the accounts of Superior Energy Services, Inc. and subsidiaries (the Company). All significant intercompany accounts and transactions are eliminated in consolidation.

(b)

Reclassifications

In the first quarter of 2012, the Company sold the 18 liftboats and related assets comprising its Marine segment, as well as a derrick barge from its Subsea and Well Enhancement segment. Beginning the first quarter of 2012, all of the operations related to these assets, as well as any resulting gain or loss recognized from the dispositions, will be reported as discontinued operations, net of tax in the consolidated financial statements. We have also reported the prior period operations related to these assets as discontinued operations retrospectively for all periods presented. See Note 4 – Discontinued Operations for more information. Certain previously reported amounts have been reclassified to conform to the 2011 presentation.

(c)

Business

The Company is a leading provider of specialized oilfield services and equipment focusing on serving the production and drilling-related needs of oil and gas companies. The Company provides most of the products and services necessary to maintain, enhance and extend producing wells, as well as plug and abandonment services at the end of their life cycle.

(d)

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(e)

Major Customers and Concentration of Credit Risk

The majority of the Company’s business is conducted with major and independent oil and gas exploration companies. The Company evaluates the financial strength of its customers and provides allowances for probable credit losses when deemed necessary.

The market for the Company’s services and products is the oil and gas industry in the United States and select international market areas. Oil and gas companies make capital expenditures on exploration, drilling and production operations. The level of these expenditures historically has been characterized by significant volatility.

The Company derives a large amount of revenue from a small number of major and independent oil and gas companies. In 2011 and 2010, no single customer accounted for more than 10% of total revenue. In 2009 Chevron accounted for approximately 15%, Apache accounted for approximately 13% and BP accounted for approximately 11% of total revenue, primarily related to our Subsea and Well Enhancement segment.

In addition to trade receivables, other financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and derivative instruments used in hedging activities. The Company periodically evaluates the creditworthiness of financial institutions that may serve as a counterparty. The financial institutions in which the Company transacts business are large, investment grade financial institutions which are “well-capitalized” under applicable regulatory capital adequacy guidelines, thereby minimizing its exposure to credit risks for deposits in excess of federally insured amounts and for failure to perform as the counterparty on interest rate swap agreements.

(f)

Cash Equivalents

The Company considers all short-term investments with a maturity of 90 days or less when purchased to be cash equivalents.

(g)

Accounts Receivable and Allowances

Trade accounts receivable are recorded at the invoiced amount or the earned amount but not yet invoiced and do not bear interest. The Company maintains allowances for estimated uncollectible receivables including bad debts and other items. The allowance for doubtful accounts is based on the Company’s best estimate of probable uncollectible amounts in existing accounts receivable. The Company determines the allowance based on historical write-off experience and specific identification.

(h)

Inventory and Other Current Assets

Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out (FIFO) 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.

Inventory and other current assets include approximately $83.1 million and $70.0 million of inventory at December 31, 2011 and 2010, respectively. Our inventory balance at December 31, 2011 consisted of approximately $39.0 million of finished goods, $2.3 million of work-in-process, $5.4 million of raw materials and $36.4 million of supplies and consumables. Our inventory balance at December 31, 2010 consisted of $31.4 million of finished goods, $1.4 million of work-in-process, $2.2 million of raw materials and $35.0 million of supplies and consumables.

Additionally, inventory and other current assets include approximately $133.4 million and $146.9 million of costs incurred and estimated earnings in excess of billings on uncompleted contracts at December 31, 2011 and 2010, respectively. The Company follows the percentage-of-completion method of accounting for applicable contracts.

(i)

Property, Plant and Equipment

Property, plant and equipment are stated at cost, except for assets acquired using purchase accounting, which are recorded at fair value as of the date of acquisition. With the exception of the Company’s larger marine vessels, depreciation is computed using the straight line method over the estimated useful lives of the related assets as follows:


Buildings and improvements			3 to 40 years
Marine vessels and equipment			5 to 25 years
Machinery and equipment			2 to 20 years
Automobiles, trucks, tractors and trailers			3 to 5 years
Furniture and fixtures			2 to 10 years

The Company’s larger marine vessels are depreciated using the units-of-production method based on the utilization of the vessels and are subject to a minimum amount of annual depreciation. The units-of-production method is used for these assets because depreciation occurs primarily through use rather than through the passage of time.

The Company follows the successful efforts method of accounting for its investment in oil and natural gas properties. Under the successful efforts method, the costs of successful exploratory wells and leases containing productive reserves are capitalized. Costs incurred to drill and equip developmental wells, including unsuccessful development wells, are capitalized. Other costs such as geological and geophysical costs and the drilling costs of unsuccessful exploratory wells are expensed. Leasehold and well costs are depleted on a units-of-production basis based on the estimated remaining equivalent proved oil and gas reserves of each field.

The Company capitalizes interest on the cost of major capital projects during the active construction period. Capitalized interest is added to the cost of the underlying assets and is amortized over the useful lives of the assets. The Company capitalized approximately $7.1 million, $2.7 million and $2.9 million in 2011, 2010 and 2009, respectively, of interest for various capital projects.

In accordance with authoritative guidance on property, plant and equipment, long-lived assets, such as property, plant and equipment and purchased intangibles subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of assets to be held and used is assessed by a comparison of the carrying amount of such assets to their fair value calculated, in part, by the estimated undiscounted future cash flows expected to be generated by the assets. Cash flow estimates are based upon, among other things, historical results adjusted to reflect the best estimate of future market rates, utilization levels, and operating performance. Estimates of cash flows may differ from actual cash flows due to, among other things, changes in economic conditions or changes in an asset’s operating performance. The Company’s assets are grouped by subsidiary or division for the impairment testing, except for liftboats, which are grouped together by leg length. These groupings represent the lowest level of identifiable cash flows. The Company has long-lived assets, such as facilities, utilized by multiple operating divisions that do not have identifiable cash flows. Impairment testing for these long-lived assets is based on the consolidated entity. If the assets’ fair value is less than the carrying amount of those items, impairment losses are recorded in the amount by which the carrying amount of such assets exceeds the fair value. Assets to be disposed of are reported at the lower of the carrying amount or fair value less estimated costs to sell. The net carrying value of assets not fully recoverable is reduced to fair value. The estimate of fair value represents the Company’s best estimate based on industry trends and reference to market transactions and is subject to variability. The oil and gas industry is cyclical and these estimates of the period over which future cash flows will be generated, as well as the predictability of these cash flows, can have a significant impact on the carrying values of these assets and, in periods of prolonged down cycles, may result in impairment charges.

As a result of pursuing strategic alternatives, the Company entered into an agreement dated February 22, 2012 to sell its Marine segment. As such, the Company concluded that indicators of impairment existed and therefore conducted a fair value assessment of the liftboats at December 31, 2011. This valuation included two components: estimated undiscounted cash flows and indicated valuation evidenced by tenders from prospective buyers. A weighted average was applied to the two components to obtain an estimate of the fair market value of the liftboats. Based on this valuation analysis, the Company determined that the liftboats had a fair market value that was approximately $35.8 million less than their carrying value. Therefore, a reduction in the value of assets (property, plant and equipment) was recorded for approximately $35.8 million, which is included in discontinued operations on the consolidated statement of operations. On March 30, 2012, the Company sold the 18 liftboats and related assets that comprised its Marine segment.

For the year ended December 31, 2010, the Company recorded a reduction in the value of assets totaling $32.0 million in connection with liftboat components primarily related to the two partially completed liftboats, which is included in discontinued operations on the consolidated statements of operations. For the year ended December 31, 2009, the Company recorded approximately $119.8 million reduction in the value of assets, related to property, plant and equipment, due to the decline in the U.S. land market area.

(j)

Goodwill

In accordance with authoritative guidance on intangible assets, goodwill is tested for impairment annually as of December 31 or on an interim basis if events or circumstances indicate that the fair value of the asset has decreased below its carrying value. In order to estimate the fair value of the reporting units (which is consistent with the reported business segments), the Company used a weighting of the discounted cash flow method and the public company guideline method of determining fair value of each reporting unit. The Company weighted the discounted cash flow method 80% and the public company guideline method 20% due to differences between the Company’s reporting units and the peer companies’ size, profitability and diversity of operations. In order to validate the reasonableness of the estimated fair values obtained for the reporting units, a reconciliation of fair value to market capitalization was performed for each unit on a standalone basis. A control premium, derived from market transaction data, was used in this reconciliation to ensure that fair values were reasonably stated in conjunction with the Company’s capitalization. These fair value estimates were then compared to the carrying value of the reporting units. No impairment loss was recognized during the years ended December 31, 2010 and 2009, as the fair value of the reporting unit exceeded the carrying amount. A significant amount of judgment was involved in performing these evaluations since the results are based on estimated future events.

The Company completed its assessment at December 31, 2011 to determine whether goodwill was impaired and as a result determined that it was more likely than not that the fair value of the former Marine segment was less than its carrying amount, indicating that goodwill was potentially impaired. As a result, the Company initiated the second step of the goodwill impairment test which involved calculating the implied fair value of the goodwill by allocating the fair value of the former Marine segment to all of the assets and liabilities other than goodwill and comparing it to the carrying amount of goodwill. The Company determined that the implied fair value of the goodwill for the former Marine segment was less than its carrying value and fully wrote-off the goodwill balance of $10.3 million, which was recorded as a reduction in the value of assets within income (loss) from discontinued operations on the consolidated statement of operations.

The following table summarizes the activity for the Company’s goodwill for the years ended December 31, 2011 and 2010 (amounts in thousands):


	Subsea and Well Enhancement			Drilling Products and Services			Marine			Total
Balance, December 31, 2009	$	332,111		$	139,436		$	10,933		$	482,480
Acquisition activities		93,650			—			—			93,650
Disposition activities		—			—			(80	)		(80	)
Additional consideration paid for prior acquisitions		14,029			1,000			—			15,029
Foreign currency translation adjustment		(2,106	)		(973	)		—			(3,079	)

Balance, December 31, 2010	$	437,684		$	139,463		$	10,853		$	588,000

Acquisition activities		3,563			—			—			3,563
Disposition activities		—			—			(519	)		(519	)
Reduction in value of asset		—			—			(10,334	)		(10,334	)
Additional consideration paid for prior acquisitions		—			1,000			—			1,000
Foreign currency translation adjustment		(296	)		(35	)		—			(331	)

Balance, December 31, 2011	$	440,951		$	140,428		$	—		$	581,379

If, among other factors, (1) the Company’s market capitalization declines and remains below its stockholders’ equity, (2) the fair value of the reporting units decline, or (3) the adverse impacts of economic or competitive factors are worse than anticipated, the Company could conclude in future periods that impairment losses are required.

(k)

Notes Receivable

Notes receivable consist of a commitment from the seller of oil and gas properties 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 note 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 $4.5 million for each of the years ended December 31, 2011 and 2010.

(l)

Intangible and Other Long-Term Assets

Intangible and other long-term assets consist of the following at December 31, 2011 and 2010 (amounts in thousands):


	December 31, 2011							December 31, 2010
	Gross Amount		Accumulated Amortization			Net Balance		Gross Amount		Accumulated Amortization			Net Balance
Customer relationships	$	23,707	$	(6,144	)	$	17,563	$	23,306	$	(4,317	)	$	18,989
Tradenames		18,005		(2,706	)		15,299		17,924		(1,622	)		16,302
Non-compete agreements		1,697		(1,126	)		571		1,320		(1,211	)		109
Debt issuance costs		41,449		(10,039	)		31,410		25,886		(14,412	)		11,474
Deferred compensation plan assets		10,598		—			10,598		10,820		—			10,820
Escrowed cash		50,196		—			50,196		33,013		—			33,013
Restricted cash and		785,280		—			785,280		—		—			—
cash equivalents
Long-term assets held as major replacement spares		13,806		—			13,806		19,999		—			19,999
Other		6,018		(605	)		5,413		3,780		(503	)		3,277

Total	$	950,756	$	(20,620	)	$	930,136	$	136,048	$	(22,065	)	$	113,983

Customer relationships, tradenames, and non-compete agreements are amortized using the straight line method over the life of the related asset with weighted average useful lives of 13 years, 17 years, and 3 years, respectively. Debt issuance costs are amortized primarily using the effective interest method over the life of the related debt agreements with a weighted average useful life of 9 years. Amortization of debt issuance costs is recorded in interest expense. Amortization expense (exclusive of debt issuance costs) was approximately $3.4 million, $3.3 million and $4.3 million for the years ended December 31, 2011, 2010 and 2009, respectively. Estimated annual amortization of intangible assets (exclusive of debt acquisition costs) will be approximately $3.4 million for 2012, $3.3 million for 2013, $3.2 million for 2014, $3.0 million for 2015 and $2.9 million for 2016, excluding the effects of any acquisitions or dispositions subsequent to December 31, 2011.

In connection with the issuance of the Company’s $800 million of 7 1/8% unsecured senior notes due 2021, certain restrictions were placed on the proceeds from the issuance of these notes. These restrictions limit the Company to use the proceeds, net of fees and expenses from the issuance, for the acquisition of Complete Production Services, Inc. (NYSE: CPX) (Complete). At December 31, 2011, the Company held $785.3 million in other long-term assets as net proceeds from the issuance of these notes (see note 8), which were used to partially fund the acquisition of Complete on February 7, 2012.

As a result of the annual review for impairment of long-lived assets in accordance with authoritative guidance, the Company recorded approximately $92.7 million as a reduction in the value of intangible assets during the year ended December 31, 2009.

(m)

Decommissioning Liabilities

The Company records estimated future decommissioning liabilities in accordance with the authoritative guidance related to asset retirement obligations (decommissioning liabilities), 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 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 income (or loss) within 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.

In connection with the acquisition of Superior Completion Services in 2010, the Company assumed approximately $10.0 million of decommissioning liabilities associated with restoring two chartered vessels to the original condition in which they were received.

The following table summarizes the activity for the Company’s decommissioning liabilities for the years ended December 31, 2011 and 2010 (amounts in thousands):


	2011			2010
Decommissioning liabilities, December 31, 2010 and 2009, respectively	$	117,716		$	—
Liabilities acquired and incurred		—			136,559
Liabilities settled		(504	)		(1,759	)
Accretion		6,752			7,018
Revision in estimated liabilities		(788	)		(24,102	)

Total decommissioning liabilities, December 31, 2011 and 2010, respectively		123,176			117,716
Less: current portion of decommissioning liabilities at December 31, 2011 and 2010, respectively		14,956			16,929

Long-term decommissioning liabilities, December 31, 2011 and 2010, respectively	$	108,220		$	100,787

(n)

Revenue Recognition

Products and services are generally sold based upon purchase orders or contracts with customers that include fixed or determinable prices. Revenue is recognized when services or equipment are provided and collectability is reasonably assured. The Company contracts for subsea and well enhancement projects either on a day rate or turnkey basis, with a vast majority of its projects conducted on a day rate basis. The Company’s drilling products and services are billed on a day rate basis, and revenue from the sale of equipment is recognized when the title to the equipment has been transferred. Reimbursements from customers for the cost of drilling products and services that are damaged or lost down-hole are reflected as revenue at the time of the incident. The Company accounted for the revenue and related costs on a large-scale platform decommissioning contract on the percentage-of-completion method utilizing costs incurred as a percentage of total estimated costs (see note 5). The Company recognizes oil and gas revenue from its interests in producing wells as oil and natural gas is sold.

(o)

Taxes Collected from Customers

In accordance with authoritative guidance related to taxes collected from customers and remitted to governmental authorities, the Company elected to net taxes collected from customers against those remitted to government authorities in the financial statements consistent with the historical presentation of this information.

(p)

Income Taxes

The Company accounts for income taxes and the related accounts under the asset and liability method. Deferred income taxes reflect the impact of temporary differences between amounts of assets and liabilities for financial reporting purposes and such amounts as measured by tax laws and rates that are in effect when the temporary differences are expected to reverse. The effect of a change in tax rates on the deferred income taxes is recognized in income in the period in which the change occurs. A valuation allowance is recorded when management believes it is more likely than not that at least some portion of any deferred tax asset will not be realized.

The Company has adopted authoritative guidance surrounding accounting for uncertainty in income taxes. It is the Company’s policy to recognize interest and applicable penalties related to uncertain tax positions in income tax expense.

(q)

Earnings (Loss) per Share

Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional common shares that could have been outstanding assuming the exercise of stock options and restricted stock units and the potential shares that would have a dilutive effect on earnings per share using the treasury stock method.

Stock options and restricted stock units for approximately 540,000, 1,650,000 and 1,180,000 shares were excluded in the computation of diluted earnings per share for the years ended December 31, 2011, 2010 and 2009, respectively, as the effect would have been anti-dilutive.

(r)

Discontinued Operations

The Company classifies assets and liabilities of a disposal group as held for sale and discontinued operations if the following criteria are met: (1) management, with appropriate authority, commits to a plan to sell a disposal group; (2) the asset is available for immediate sale in its current condition; (3) an active program to locate a buyer and other actions to complete the sale have been initiated; (4) the sale is probable; (5) the disposal group is being actively marketed for sale at a reasonable price; and (6) actions required to complete the plan of sale indicate it is unlikely that significant changes to the plan of sale will occur or that the plan will be withdrawn. Once deemed held for sale, the Company no longer depreciates the assets of the disposal group. Upon sale, the Company calculates the gain or loss associated with the disposition by comparing the carrying value of the assets less direct costs of the sale with the proceeds received. In the consolidated statement of operations income (loss) from discontinued operations are presented, net of tax effect, as a separate caption below net income from continuing operations.

(s)

Fair Value Measurements

The Company follows 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; and

Level 3: Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability.

(t)

Financial Instruments

The fair value of the Company’s financial instruments of cash equivalents, accounts receivable, accounts payable, accrued expenses and revolving credit facility approximates their carrying amounts due to their short maturity or market interest rates. The fair value of the Company’s debt was approximately $1,749.8 million and $902.5 million at December 31, 2011 and 2010, respectively. The fair value of these debt instruments is determined by reference to the market value of the instrument as quoted in an over-the-counter market.

(u)

Foreign Currency

Results of operations for foreign subsidiaries with functional currencies other than the U.S. dollar are translated using average exchange rates during the period. Assets and liabilities of these foreign subsidiaries are translated using the exchange rates in effect at the balance sheet dates, and the resulting translation adjustments are reported as accumulated other comprehensive income (loss) in the Company’s stockholders’ equity.

For international subsidiaries where the functional currency is the U.S. dollar, financial statements are remeasured into U.S. dollars using the historical exchange rate for most of the long-term assets and liabilities and the balance sheet date exchange rate for most of the current assets and liabilities. An average exchange rate is used for each period for revenues and expenses. These transaction gains and losses, as well as any other transactions in a currency other than the functional currency, are included in general and administrative expenses in the consolidated statements of operations in the period in which the currency exchange rates change. For the years ended December 31, 2011, 2010 and 2009 the Company recorded approximately $1.4 million, $1.6 million and $3.5 million of foreign currency gains, respectively.

(v)

Stock-Based Compensation

In accordance with authoritative guidance related to stock compensation, the Company records compensation costs relating to share-based payment transactions and includes such costs in general and administrative expenses in the statement of operations. The cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity award). Excess tax benefits of awards that are recognized in equity related to stock option exercises and restricted stock vesting are reflected as financing cash flows.

(w)

Derivative Instruments and Hedging Activities

The Company recognizes all derivative instruments as either assets or liabilities in the balance sheet at their respective fair values. Interest rate swap agreements that are effective at hedging the fair value of fixed-rate debt agreements are designated and accounted for as fair value hedges. The Company also assesses, both at inception of the hedging relationship and on an ongoing basis, whether the derivatives used in hedging relationships are highly effective in offsetting changes in fair value.

In an attempt to achieve a more balanced debt portfolio, the Company entered into an interest rate swap in March 2010. Under this agreement, the Company is entitled to receive semi-annual interest payments at a fixed rate of 6 7/8% per annum and is obligated to make quarterly interest payments at a variable rate. At December 31, 2011, the Company had fixed-rate interest on approximately 87% of its long-term debt. As of December 31, 2011, the Company had a notional amount of $150 million related to this interest rate swap with a variable interest rate, which is adjusted every 90 days, based on LIBOR plus a fixed margin.

From time to time, the Company may enter into forward foreign exchange contracts to hedge the impact of foreign currency fluctuations. The Company does not enter into forward foreign exchange contracts for trading purposes. During the years ended December 31, 2011 and 2009, the Company did not hold any foreign currency forward contracts. During the year ended December 31, 2010, the Company held foreign currency forward contracts outstanding in order to hedge exposure to currency fluctuations. These contracts are not designated as hedges, for hedge accounting treatment, and were marked to fair market value each period and changes in fair value were recognized in earnings.

(x)

Equity –Method Investments

Investments in entities that are not controlled by the Company, but where the Company has the ability to exercise significant influence over the operations, are accounted for using the equity-method. The Company’s share of the income or losses of these entities is reflected as earnings or losses from equity-method investments in its consolidated statements of operations.

(y)

Self Insurance Reserves

The Company is self insured, through deductibles and retentions, up to certain levels for losses related to workers’ compensation, third party liability insurances, property damage, and group medical. With the Company’s growth, the Company has elected to retain more risk by increasing its self insurance. The Company accrues for these liabilities based on estimates of the ultimate cost of claims incurred as of the balance sheet date. The Company regularly reviews the estimates of reported and unreported claims and provides for losses through reserves. The Company obtains actuarial reviews to evaluate the reasonableness of internal estimates for losses related to workers’ compensation and group medical on an annual basis.

(z)

Subsequent Events

In accordance with authoritative guidance, the Company has updated its evaluation and disclosed throughout the notes to the consolidated financial statements all material subsequent events that occurred after the balance sheet date, but before financial statements were reissued.

(aa)

Recently Issued Accounting Pronouncements

In June 2011, the FASB issued Accounting Standards Update No. 2011-05, “Presentation of Comprehensive Income” (“ASU 2011-05”). The amendments in ASU 2011-05 allow an entity the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In both instances, an entity is required to present each component of net income along with total net income, each component of other comprehensive income along with a total for other comprehensive income, and a total amount for comprehensive income. ASU 2011-05 eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. The amendments in ASU 2011-05 do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. However, in December 2011, the FASB issued Accounting Standards Update No. 2011-12, “Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05” (“ASU 2011-12”), which deferred the guidance on whether to require entities to present reclassification adjustments out of accumulated other comprehensive income by component in both the statement where net income is presented and the statement where other comprehensive income is presented for both interim and annual financial statements. ASU 2011-12 reinstated the requirements for the presentation of reclassifications that were in place prior to the issuance of ASU 2011-05 and did not change the effective date for ASU 2011-05. For public entities, the amendments in ASU 2011-05 and ASU 2011-12 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2011, and should be applied retrospectively. The Company retrospectively adopted this guidance which changed the Company’s financial statement presentation of comprehensive income but did not impact the consolidated financial position or results of operations.

In September 2011, the FASB issued ASU No. 2011-08, “Intangibles – Goodwill and Other” (“ASU 2011-08”). ASU 2011-08 allows a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying amount before applying the two-step goodwill impairment test. If it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then the two-step impairment test would be performed. ASU 2011-08 is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, and early adoption is permitted. This update changed the process the Company used to test goodwill for impairment, but did not have a material impact on its consolidated financial statements.

In December 2011, the FASB issued ASU 2011-11, “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities” (“ASU 2011-11”). This newly issued accounting standard requires an entity to disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position as well as instruments and transactions executed under a master netting or similar arrangement and was issued to enable users of financial statements to understand the effects or potential effects of those arrangements on its financial position. This ASU is required to be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. As this accounting standard only requires enhanced disclosure, the adoption of this standard is not expected to have an impact on our consolidated financial position or results of operations.

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2011

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

(2)	Supplemental Cash Flow Information

The following table includes the Company’s supplemental cash flow information for the years ended December 31, 2011, 2010 and 2009 (amounts in thousands):


	2011			2010			2009
Cash paid for interest, net of amounts capitalized	$	39,539		$	34,034		$	28,833

Cash paid for income taxes	$	22,320		$	25,435		$	16,434

Details of business acquisitions:
Fair value of assets	$	8,650		$	515,767		$	1,247
Fair value of liabilities		(6,902	)		(228,417	)		—

Cash paid		1,748			287,350			1,247
Less cash acquired		—			(11,273	)		—

Net cash paid for acquisitions	$	1,748		$	276,077		$	1,247

Details of proceeds from sale of businesses:
Book value of assets	$	13,791		$	4,236		$	5,632
Book value of liabilities		—			81			—
Receivable due from sale		—			(150	)		—
Gain on sale of business		8,558			1,083			2,084

Proceeds from sale of businesses	$	22,349		$	5,250		$	7,716

Non-cash investing activity:
Long term payable on vessel construction	$	—		$	—		$	5,000

Capital expenditures included in accounts payable	$	23,053		$	—		$	—

Additional consideration payable on acquisitions	$	—		$	—		$	484

Non-cash financing activity:
Share settlement for employee tax liability	$	—		$	3,093		$	—

		`

Acquisitions

12 Months Ended

Dec. 31, 2011

Acquisitions [Abstract]

Acquisitions

(3)	Acquisitions

In September 2011, the Company acquired 100% of the equity interest in a pressure pumping company based in Brazil in order to expand the breadth of services offered in Brazil. The Company paid approximately $0.5 million at closing, with an additional $5.8 million payable after the settlement of certain liabilities and administrative formalities. Identifiable intangible assets include goodwill of $3.6 million, all of which was assigned to the Company’s Subsea and Well Enhancement segment.

In August 2010, the Company acquired certain assets (operating as Superior Completion Services) from subsidiaries of Baker Hughes Incorporated (Baker Hughes) for approximately $54.3 million. The assets purchased were used in Baker Hughes’ Gulf of Mexico stimulation and sand control business.

In January 2010, the Company acquired 100% of the equity interest of Hallin Marine Subsea International Plc (Hallin) for approximately $162.3 million. Additionally, the Company repaid approximately $55.5 million of Hallin’s debt. Hallin is an international provider of integrated subsea services and engineering solutions, focused on installing, maintaining and extending the life of subsea wells. Hallin operates in international offshore oil and gas markets with offices and facilities located in Singapore, Indonesia, Australia, Scotland and the United States.

In January 2010, Wild Well Control, Inc. (Wild Well), a wholly-owned subsidiary of the Company, acquired 100% ownership of Shell Offshore, Inc.’s Gulf of Mexico Bullwinkle platform and its related assets and assumed the related decommissioning obligation. Immediately after Wild Well acquired these assets, it conveyed an undivided 49% interest in these assets and the related well plugging and abandonment obligations to Dynamic Offshore Holding, LP (Dynamic Offshore), which operates these assets. Additionally, Dynamic Offshore will pay Wild Well to extinguish its 49% portion of the well plugging and abandonment obligation (see note 5).

The Company has an off-balance sheet financing arrangement for additional consideration that may be payable as a result of the future operating performance of an acquisition. At December 31, 2011, the maximum additional contingent consideration payable was approximately $3.0 million and will be determined and payable through 2012. Since this acquisition occurred before the Company adopted the revised authoritative guidance for business combinations, these amounts are not classified as liabilities and are not reflected in the Company’s financial statements until the amounts are fixed and determinable. The Company paid additional consideration of approximately $1.2 million for the year ended December 31, 2011, as a result of prior acquisitions. Of the consideration paid, $1.0 million was capitalized during the year ended December 31, 2011 and $0.2 million had been capitalized and accrued during 2010.

Subsequent Event

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 focuses 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 are located throughout the United States and Mexico. The acquisition of Complete substantially expanded the size and scope of services of the Company. Management believes that the acquisition positions the combined company to be better equipped to compete with the larger oilfield service companies and to expand internationally. Subsequent to this acquisition, all of Complete’s operations will be reported in the Subsea and Well Enhancement segment.

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 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 Complete’s $650 million 8.0% senior notes. The Company also assumed all outstanding stock options and shares of non-vested restricted stock held by Complete’s employees and directors at the time of acquisition.

Complete’s stock options and shares of restricted stock outstanding at closing were converted into the Company’s options and restricted stock using a conversion ratio of 1.1999. The estimated fair value associated with the Company’s options issued in exchange for Complete’s options was approximately $58.1 million based on a Black-Scholes valuation model. $56.6 million of this value was attributable to service rendered prior to the date of acquisition, of which $52.7 million was recorded as part of the consideration transferred and $3.9 million was recorded as an expense. The remaining $1.5 million will be expensed over the remaining service term of the replacement stock option awards. In addition, $0.6 million of replacement restricted stock awards was attributable to service rendered prior to the date of acquisition and recorded as part of the consideration transferred. An additional $18.2 million will be expensed over the remaining service term of the replacement restricted stock awards.

The transaction is accounted for using the acquisition method of accounting which requires that, among other things, assets acquired and liabilities assumed be recorded at their fair values as of the acquisition date. The Company has not finalized the determination of the fair values of the assets acquired and liabilities assumed and, therefore, the fair values set forth are subject to adjustment as the valuations are completed. Under U.S. GAAP, companies have one year following an acquisition to finalize acquisition accounting. The following table summarizes the consideration paid and the provisional fair value of the assets acquired and liabilities assumed as of the acquisition date (in thousands):


Assets:
Current assets	$	751,706
Property, plant and equipment		1,223,448
Goodwill		1,922,277
Intangible and other long-term assets		370,377

Liabilities:
Current liabilities		236,986
Deferred income taxes		435,904
Other long-term liabilities		4,125

Net assets acquired	$	3,590,793

Included in current assets acquired is approximately $214.6 million of cash, and accounts receivable, including unbilled receivables, with a fair value of approximately $443.7 million. The gross amount due from customers is approximately $449.0 million, of which approximately $5.3 million is deemed to be doubtful.

Total acquisition expenses were approximately $33.2 million, of which approximately $4.5 million was recorded in the year ended December 31, 2011. These acquisition related costs include expenses directly related to acquiring Complete, and have been recorded in general and administrative expenses.

Other Acquisitions

In the first quarter of 2012, the Company acquired a water transfer and storage company and disposal wells for a total of approximately $23.5 million, net of cash acquired. Identifiable intangible assets include goodwill of approximately $9.2 million, all of which will be assigned to the Company’s Subsea and Well Enhancement segment.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 88-16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 51, 52
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Appendix F
-Paragraph F4
-Subparagraph e

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 67-73
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Discontinued Operations

12 Months Ended

Dec. 31, 2011

Discontinued Operations [Abstract]

Discontinued Operations

(4)	Discontinued Operations

During 2011, the Company sold seven liftboats for approximately $22.3 million, net of commissions, resulting in a pre-tax gain of approximately $8.6 million for the year ended December 31, 2011. In December 2010, the Company sold one liftboat for approximately $5.4 million, inclusive of a $0.1 million receivable, resulting in a pre-tax gain of approximately $1.1 million for the year ended December 31, 2010. In 2009, the Company sold four liftboats for approximately $7.7 million resulting in a pre-tax gain of approximately $2.1 million for the year ended December 31, 2009. The gains from these sales are included within income (loss) from discontinued operations on the consolidated statement of operations for each respective period.

Subsequent Events

On February 15, 2012, the Company sold a derrick barge to a marine construction company based in India. The Company received proceeds of $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, in the first quarter of 2012 in connection with this sale. The operations of this derrick barge have been reported within income (loss) from discontinued operations within the Subsea and Well Enhancement Segment for all periods presented.

On March 30, 2012, the Company sold the 18 liftboats and related assets that comprised its Marine segment. The Company received cash proceeds of approximately $141.4 million, inclusive of estimated working capital, subject to adjustment, and selling costs. At December 31, 2011, the Company had outstanding $12.5 million in U.S. Government guaranteed long-term financing, which is administered by the Maritime Administration, for two liftboats. The Company repaid this facility in the first quarter of 2012 in connection with the sale of its Marine segment. During the fourth quarter of 2011, the Company wrote off approximately $46.1 million of long lived assets and goodwill in order to approximate the segment’s indicated fair value. Additionally, the Company recorded a pre-tax loss at the time of sale of approximately $10.0 million for various expenses, including commissions, separation agreements and losses on the extinguishment of debt. The sale of these assets constituted the entire Marine segment as defined in the segment disclosure (see note 11). The operations of the former Marine segment have been reported within income (loss) from discontinued operations on the consolidated statement of operations for all periods presented.

The following table summarizes the components of income (loss) from discontinued operations, net of tax for the years ended December 31, 2011, 2010 and 2009 (in thousands):


	2011			2010			2009
Revenues	$	105,834		$	118,573		$	128,659

Income (loss) from discontinued operations before income tax		(32,051	)		(7,558	)		26,724
Income tax expense (benefit)		(9,083	)		(2,505	)		9,825
Gain on disposition, net of tax of $2,425, $359 and $766 in 2011, 2010 and 2009, respectively.		6,133			724			1,318

Income (loss) from discontinued operations, net of tax	$	(16,835	)	$	(4,329	)	$	18,217

The following table presents the assets and liabilities of these disposal groups at December 31, 2011 and 2010 (in thousands):


	2011		2010
Accounts receivable, net	$	16,342	$	30,265
Prepaid expenses		1,900		1,403
Inventory and other current assets		2,371		11,521

Current assets of discontinued operations	$	20,613	$	43,189

Property, plant and equipment, net		170,222		229,600
Goodwill		9,740		20,595
Intangible and other long-term assets, net		3,875		7,784

Long-term assets of discontinued operations	$	183,837	$	257,979

Accounts payable	$	1,231	$	3,204
Accrued expenses		13,421		15,068
Current maturities of long-term debt		810		810

Current liabilities of discontinued operations	$	15,462	$	19,082

Long-term debt	$	11,736	$	12,546

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43-48
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Long-Term Contracts

12 Months Ended

Dec. 31, 2011

Long-Term Contracts [Abstract]

Long-Term Contracts

(5)	Long-Term Contracts

In January 2010, Wild Well acquired 100% ownership of Shell Offshore Inc.’s Gulf of Mexico Bullwinkle platform and its related assets, and assumed the decommissioning obligations of such assets. In connection with the conveyance of an undivided 49% interest in these assets and the related well plugging and abandonment obligations, Dynamic Offshore will pay Wild Well to extinguish its portion of the well plugging and abandonment obligations, limited to the current fair value of the obligation at the time of acquisition. As part of the asset purchase agreement with Shell Offshore Inc., Wild Well was required to obtain a $50 million performance bond as well as fund $50 million into an escrow account. Included in intangible and other long-term assets, net is escrowed cash of $50.2 million and $33.0 million as of December 31, 2011 and 2010, respectively. Included in other long-term liabilities is deferred revenue of $24.6 million and $16.2 million as of December 31, 2011 and 2010, respectively.

In December 2007, Wild Well entered into contractual arrangements pursuant to which it is decommissioning seven downed oil and gas platforms and related wells located offshore in the Gulf of Mexico for a fixed sum of $750 million, which is payable in installments upon the completion of specified portions of work. The contract contains certain covenants primarily related to Wild Well’s performance of the work. As of December 31, 2011, the work on this project was substantially complete, pending certain regulatory approvals. The revenue related to the contract for decommissioning these downed platforms and wells was recorded on the percentage-of-completion method utilizing costs incurred as a percentage of total estimated costs. Included in other current assets at December 31, 2011 and 2010 is approximately $129.7 million and $144.5 million, respectively, of costs and estimated earnings in excess of billings related to this contract.

- Definition

The entire disclosure for long-term contracts or programs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 11
-Section A
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Research Bulletin (ARB)
-Number 45
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 81-1
-Paragraph 94
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3, 6
-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 11
-Section B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Chapter 11
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.5-02.3(c))
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+ Details

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

(6)	Property, Plant and Equipment

A summary of property, plant and equipment at December 31, 2011 and 2010 (in thousands) is as follows:


	2011			2010
Buildings, improvements and leasehold improvements	$	139,432		$	127,725
Marine vessels and equipment		417,413			499,398
Machinery and equipment		1,596,580			1,248,318
Automobiles, trucks, tractors and trailers		38,770			31,934
Furniture and fixtures		40,575			35,124
Construction-in-progress		171,108			83,694
Land		29,518			24,223
Oil and gas producing assets		44,109			34,336

		2,477,505			2,084,752
Accumulated depreciation and depletion		(970,137	)		(771,602	)

Property, plant and equipment, net	$	1,507,368		$	1,313,150

In connection with the review for impairment of long-lived assets in accordance with authoritative guidance, the Company recorded approximately $35.8 million as a reduction in the value of property, plant and equipment during the year ended December 31, 2011 as the indicated valuation from the buyers was less than the carrying value of certain marine assets. During 2010, the Company recorded a reduction in the value of assets totaling $32.0 million in connection with liftboat components primarily related to partially completed liftboats. During 2009, the Company recorded approximately $119.8 million as a reduction in the value of property, plant and equipment during the year ended December 31, 2009 primarily related to assets servicing the U.S. land market area.

The Company had approximately $23.2 million and $22.7 million of leasehold improvements at December 31, 2011 and 2010, respectively. These leasehold improvements are depreciated over the shorter of the life of the asset or the term of the lease using the straight line method. Depreciation expense (excluding depletion, amortization and accretion) was approximately $224.6 million, $207.7 million, $202.8 million for the years ended December 31, 2011, 2010 and 2009, respectively, which includes amounts recorded within income (loss) from discontinued operations on the consolidated statement of operations.

Capital Lease

Hallin is the lessee of a dynamically positioned subsea vessel under a capital lease expiring in 2019 with a 2 year renewal option. Hallin owns a 5% equity interest in the entity that owns this leased asset. The entity owning this vessel had $28.9 million of debt as of December 31, 2011, all of which was 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. This vessel is depreciated using the units-of-production method based on the utilization of the vessel and is subject to a minimum amount of annual depreciation. The units-of-production method is used for this vessel because depreciation occurs primarily through use rather than through the passage of time. The vessel’s gross asset value under the capital lease was approximately $37.6 million at inception and depreciation expense was approximately $4.2 million for the year ending December 31, 2011 and $3.8 million from the date of acquisition through December 31, 2010. At December 31, 2011 and 2010, the Company had approximately $29.5 million and $33.0 million, respectively, included in other long-term liabilities, and approximately $3.6 million and $3.2 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 $3.6 million, $3.9 million, $4.2 million, $4.6 million and $5.0 million in the years ending December 31, 2012, 2013, 2014, 2015 and 2016, respectively, exclusive of interest at an annual rate of 8.5%. For each of the years ended December 31, 2011 and 2010, the Company recorded interest expense of approximately $3.0 million in connection with this capital lease.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Equity-Method Investments

12 Months Ended

Dec. 31, 2011

Equity-Method Investments [Abstract]

Equity-Method Investments

(7)	Equity-Method Investments

In March 2011, the Company contributed all of its equity interests in SPN Resources and DBH, LLC (DBH) to Dynamic Offshore, the majority owner of both SPN Resources and DBH, in exchange for a 10% limited partnership interest in Dynamic Offshore. Following these contributions, Dynamic Offshore owns all the equity interests of SPN Resources and DBH. Prior to these contributions, the Company accounted for its equity interests in SPN Resources and DBH as separate equity-method investments. The Company’s equity interest in Dynamic Offshore is accounted for as an equity-method investment with a balance of approximately $70.6 million at December 31, 2011. The Company recorded income from its equity-method investment in Dynamic Offshore of approximately $15.0 million for the ten months ended December 31, 2011 following the contributions. Additionally, the Company received approximately $2.8 million of cash distributions from its equity-method investment in Dynamic Offshore for the ten month period ended December 31, 2011. The Company, where possible and at competitive rates, provides its products and services to assist Dynamic Offshore in producing and developing its oil and gas properties. The Company had a receivable from Dynamic Offshore of approximately $9.8 million at December 31, 2011. The Company also recorded revenue from Dynamic Offshore of approximately $44.9 million for the ten months ended December 31, 2011 following the contributions. Additionally, the Company has a receivable from Dynamic Offshore of approximately $14.0 million as of December 31, 2011 related to its share of oil and natural gas commodity sales and production handling arrangement fees.

The Company’s equity-method investment balance in SPN Resources was approximately $43.6 million at December 31, 2010. The Company recorded earnings from its equity-method investment in SPN Resources of approximately $0.2 million for the two months ended February 28, 2011 prior to the contributions and approximately $1.2 million for the year ended December 31, 2010. The Company recorded losses from this equity-method investment of approximately $7.6 million for the year ended December 31, 2009. Additionally, the Company received approximately $9.9 million and $5.9 million, respectively, of cash distributions from its equity-method investment in SPN Resources for the years ended December 31, 2010 and 2009. The Company, where possible and at competitive rates, provides its products and services to assist SPN Resources in producing and developing its oil and gas properties. The Company had a receivable from SPN Resources of approximately $3.2 million at December 31, 2010. The Company also recorded revenue from SPN Resources of approximately $0.3 million for the two months ended February 28, 2011 and approximately $11.4 million and $11.0 million, respectively, for the years ended December 31, 2010 and 2009. The Company also reduces its revenue and its investment in SPN Resources for its respective ownership interest when products and services are provided to and capitalized by SPN Resources. As these capitalized costs are depleted by SPN Resources, the Company then increases its revenue and investment in SPN Resources. As such, the Company recorded a net increase in revenue and its investment in SPN Resources of approximately $0.6 million for the year ended December 31, 2009.

During the year ended December 31, 2009, the Company wrote off the remaining carrying value of its 40% interest in Beryl Oil and Gas L.P. (BOG), $36.5 million, and suspended recording its share of BOG’s operating results under equity-method accounting as a result of continued negative BOG operating results, lack of viable interested buyers and unsuccessful attempts to renegotiate the terms and conditions of its loan agreements with lenders on terms that would preserve the Company’s investment. The Company’s total cash contribution for this equity-method investment in BOG was approximately $57.8 million. The Company recorded a loss from its equity-method investment in BOG of approximately $14.0 million for the year ended December 31, 2009. The Company also recorded revenue of approximately $7.0 million from BOG for the year ended December 31, 2009. The Company also recorded a decrease in its investment in BOG of approximately $6.1 million for the year ended December 31, 2009 for its proportionate share of accumulated other comprehensive income generated from hedging transactions. The Company recorded a net increase in revenue and its investment in BOG for services provided by the Company that were capitalized by BOG of approximately $0.2 million for the year ended December 31, 2009.

In October 2009, DBH acquired BOG in connection with a restructuring of BOG in which the previously existing debt obligations of BOG were partially extinguished and otherwise renegotiated. Simultaneous with that acquisition, the Company acquired a 24.6% membership interest in DBH for approximately $8.7 million. DBH’s purchase of BOG using the acquisition method of accounting resulted in a difference between the carrying amount of the Company’s investment in DBH and the underlying equity in net assets. The difference is being adjusted against the equity in earnings based on the depletion of DBH’s oil and gas assets and related reserves. The Company’s equity-method investment balance in DBH was approximately $13.8 million at December 31, 2010. The Company recorded earnings from its equity-method investment in DBH of approximately $0.9 million for the two months ended February 28, 2011 prior to the contributions and $7.1 million for the year ended December 31, 2010. From the date of acquisition through December 31, 2009, the Company recorded a loss from its equity-method investment in DBH of approximately $1.0 million. Additionally, the Company received approximately $1.0 million of cash distributions from its equity-method investment in DBH for the year ended December 31, 2010. The Company had a receivable from this equity-method investment of approximately $1.4 million at December 31, 2010. The Company also recorded revenue from this equity-method investment of approximately $0.9 million for the two months ended February 28, 2011 prior to the contributions and $4.1 million for the year ended December 31, 2010. From the date of acquisition through December 31, 2009, the Company recorded revenue from this equity-method investment of $2.4 million.

Combined summarized financial information for all investments that are accounted for using the equity-method of accounting is as follows (in thousands):


	December 31,
	2011		2010
Current Assets	$	229,516	$	104,241
Noncurrent assets		1,305,514		487,136

Total assets	$	1,535,030	$	591,377

Current liabilities	$	202,465	$	49,587
Noncurrent liabilities		797,031		197,672

Total liabilities	$	999,496	$	247,259


	Years Ended December 31,
	2011		2010			2009
Revenues	$	468,140	$	204,935		$	245,092
Cost of sales		181,433		80,525			110,101

Gross profit	$	286,707	$	124,410		$	134,991

Income (loss) from continuing operations	$	95,581	$	(8,016	)	$	(10,024	)

Subsequent Event

On April 17, 2012, SandRidge Energy Inc. (NYSE: SD) acquired Dynamic Offshore, at which time the Company received $34.1 million in cash and approximately 7.0 million shares of SandRidge common stock in consideration for its 10% interest in Dynamic Offshore. The Company expects to record a gain in the second quarter of 2012 of approximately $18.0 million, after adjustments, as a result of this transaction. In accordance with authoritative guidance related to equity securities, the Company will account for the shares received through this transaction as available-for-sale securities. The shares will be recorded at their fair market value and any unrealized gains or losses will be excluded from earnings and reported as a net amount within accumulated other comprehensive income (loss) within stockholders’ equity and would also be reflected in the consolidated statement of comprehensive income.

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References + Details

Debt

12 Months Ended

Dec. 31, 2011

Debt [Abstract]

Debt

(8)

Debt

The Company’s long-term debt as of December 31, 2011 and 2010 consisted of the following (in thousands):


	2011			2010
Revolving credit facility—interest payable monthly at floating rate, due December 2014	$	75,000		$	175,000
U.S. Government guaranteed long-term financing—interest payable semiannually at 6.45%, due in semiannual installments through June 2027		12,546			13,356
Senior Notes—interest payable semiannually at 6 7/8%, due June 2014		300,000			300,000
Discount on 6 7/8% Senior Notes		(1,649	)		(2,248	)
Senior Notes—interest payable semiannually at 6 3/8%, due May 2019		500,000			—
Senior Notes—interest payable semiannually at 7 1/8%, due December 2021		800,000			—
Senior Exchangeable Notes—interest payable semiannually at 1.5% until December 2011 and 1.25% thereafter		—			400,000
Discount on 1.5% Senior Exchangeable Notes		—			(19,663	)

		1,685,897			866,445
Less current portion		810			184,810

Long-term debt	$	1,685,087		$	681,635

The Company had a $400 million bank revolving credit facility. Any amounts outstanding under the revolving credit facility were due on July 20, 2014. The weighted average interest rate on amounts outstanding under the revolving credit facility was 5.0% and 3.4% per annum at December 31, 2011 and 2010, respectively. On February 7, 2012, this revolving credit facility was amended in connection with the Complete acquisition. See additional details on this amendment within the subsequent event portion of this footnote.

The Company also had approximately $11.0 million of letters of credit outstanding, which reduce the Company’s borrowing availability under the revolving credit facility. Amounts borrowed under the credit facility bear interest at a LIBOR rate 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 December 31, 2011, the Company was in compliance with all such covenants.

At December 31, 2011, the Company had outstanding $12.5 million in U.S. Government guaranteed long-term financing under Title XI of the Merchant Marine Act of 1936, which is administered by the Maritime Administration, for two liftboats. The debt bears interest at 6.45% per annum and is payable in equal semi-annual installments of $405,000 on June 3 ^rd and December 3 ^rd of each year through the maturity date of June 3, 2027. The Company’s obligations are secured by mortgages on the two liftboats. In accordance with the agreement, the Company is required to comply with certain covenants and restrictions, including the maintenance of minimum net worth, working capital and debt-to-equity requirements. At December 31, 2011, the Company was in compliance with all such covenants.

The Company also has outstanding $300 million of 6 7/8% unsecured senior notes due 2014. The indenture governing the senior notes requires semi-annual interest payments on June 1^st and December 1^st of each year through the maturity date of June 1, 2014. 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 December 31, 2011, the Company was in compliance with all such covenants.

In April 2011, the Company issued $500 million of 6 3/8% unsecured senior notes due 2019. Costs associated with the issuance of these notes were approximately $9.7 million and were capitalized and will be amortized over the term of the 6 3/8% senior notes. The Company used a portion of the proceeds of this debt issuance to redeem all of the outstanding $400 million 1.50% senior exchangeable notes on December 15, 2011. The indenture governing the 6 3/8% senior notes requires semi-annual interest payments on May 1 ^st and November 1 ^stof 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 December 31, 2011, the Company was in compliance with all such covenants.

In December 2011, the Company issued $800 million of 7 1/8% unsecured senior notes due 2021. Costs associated with the issuance of these notes were approximately $15.1 million and were capitalized and will be amortized over the term of the notes. Certain restrictions were placed on the proceeds from the issuance of these notes. These restrictions limited the Company to use the proceeds, net of fees and expenses from the issuance, to partially fund the Complete acquisition which occurred in February 2012 (see note 3). The indenture governing the 7 1/8% senior notes requires semi-annual interest payments on June 15^th and December 15 ^thof 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 December 31, 2011, the Company was in compliance with all such covenants.

On December 15, 2011, the Company redeemed all of its outstanding $400 million 1.50% senior exchangeable notes for 100% of the principal amount. As the holders of the Company’s 1.50% senior exchangeable notes had the ability to require the Company to purchase all of the notes on December 15, 2011, the entire amount of these notes would have been deemed to be a current liability at December 31, 2010. However, in accordance with accounting guidance related to classification of short-term debt that is to be refinanced, the Company utilized the amount available to it under its revolving credit facility as of December 31, 2010 of approximately $216.0 million to classify this portion as long-term under the assumption that the revolving credit facility could be used to refinance that portion of the debt.

Annual maturities of long-term debt for each of the five fiscal years following December 31, 2011 and thereafter are as follows (in thousands):


2012		810
2013		810
2014		375,810
2015		810
2016		810
Thereafter		1,308,496

Total	$	1,687,546

Subsequent Events

On February 7, 2012, in connection with the Complete acquisition, the Company amended its bank credit facility to increase the revolving borrowing capacity to an aggregate amount of $600 million from $400 million and to include a $400 million term loan. The maturity date of both the credit facility and the term loan is February 7, 2017, and any amounts outstanding under the revolving credit facility and the term loan are due at maturity. The principal balance of the term loan is payable in installments of $5.0 million on the last day of each fiscal quarter, commencing on June 30, 2012. Costs associated with these amendments totaled approximately $24.5 million. These costs will be capitalized and amortized over the term of the credit facility.

Additionally, on March 19, 2012, in connection with the sale of the Marine segment, the Company repaid all amounts outstanding of its U.S. government guaranteed long-term financing under Title XI of the Merchant Marine Act of 1936.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Stock-Based and Long-Term Compensation

12 Months Ended

Dec. 31, 2011

Stock Based and Long-Term Compensation [Abstract]

Stock Based and Long-Term Compensation

(9)	Stock-Based and Long-Term Compensation

The Company maintains various stock incentive plans that provide long-term incentives to the Company’s key employees, including officers, directors, consultants and advisers (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 Compensation Committee of the Company’s Board of Directors establishes the terms and conditions of any awards granted under the plans, provided that the exercise price of any stock options granted may not be less than the fair value of the common stock on the date of grant.

Stock Options

The Company has granted non-qualified stock options under its stock incentive plans. The stock options generally vest in equal installments over three years and expire in ten years. Non-vested stock options are generally forfeitable upon termination of employment. During 2011, the Company granted 207,183 non-qualified stock options under these same terms.

In accordance with authoritative guidance related to stock-based compensation, the Company recognizes compensation expense for stock option grants based on the fair value at the date of grant using the Black-Scholes-Merton option pricing model. The Company uses historical data, among other factors, to estimate the expected price volatility, the expected life of the stock option and the expected forfeiture rate. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the expected life of the stock option. The following table presents the fair value of stock option grants made during the years ended December 31, 2011, 2010 and 2009, and the related assumptions used to calculate the fair value:


	Years Ended December 31,
	2011 Actual			2010 Actual			2009 Actual
Weighted average fair value of grants	$	13.54		$	10.56		$	8.95

Black-Scholes-Merton Assumptions:
Risk free interest rate		0.85	%		2.07	%		1.77	%
Expected life (years)		5			4			4
Volatility		56.31	%		49.28	%		53.57	%
Dividend yield		—			—			—

The Company’s compensation expense related to stock options for the years ended December 31, 2011, 2010 and 2009 was approximately $3.3 million, $15.5 million and $2.4 million, respectively, which is reflected in general and administrative expenses. During 2010, the Company modified 1,418,395 stock options, affecting three employees in connection with the management transition of certain executive officers. These stock options were accelerated to vest by December 31, 2010. The Company incurred incremental compensation cost of approximately $9.8 million during 2010 as a result of this modification.

The following table summarizes stock option activity for the years ended December 31, 2011, 2010 and 2009:


	Number of Options			Weighted Average Option Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2008		3,267,910		$	15.37

Granted		309,352		$	20.01
Exercised		(38,717	)	$	9.71

Outstanding at December 31, 2009		3,538,545		$	15.84

Granted		1,549,058		$	25.04
Exercised		(87,150	)	$	10.62

Outstanding at December 31, 2010		5,000,453		$	18.78

Granted		207,183		$	28.97
Exercised		(876,435	)	$	11.71

Outstanding at December 31, 2011		4,331,201		$	20.70		6.0	$	36,885

Exercisable at December 31, 2011		3,647,745		$	19.62		5.4	$	34,783

Options expected to vest		683,456		$	26.46		8.9	$	2,102

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on December 31, 2011 and the stock option price, multiplied by the number of “in-the-money” stock options) that would have been received by the stock option holders if all the options had been exercised on December 31, 2011. The Company expects all of its remaining non-vested options to vest as they are primarily held by its officers and senior managers.

The total intrinsic value of stock options exercised during the year ended December 31, 2011 (the difference between the stock price upon exercise and the option price) was approximately $23.4 million. The Company received approximately $10.3 million, $0.9 million and $0.4 million during the years ended December 31, 2011, 2010 and 2009, respectively, from employee stock option exercises. In accordance with authoritative guidance related to stock-based compensation, the Company has reported the tax benefits of approximately $7.4 million, $0.6 million, $0.2 million from the exercise of stock options for the years ended December 31, 2011, 2010 and 2009, respectively, as financing cash flows.

A summary of information regarding stock options outstanding at December 31, 2011 is as follows:


	Options Outstanding						Options Exercisable
Range of Exercise Prices	Shares		Weighted Average Remaining Contractual Life		Weighted Average Price		Shares		Weighted Average Price
$7.31 - $8.79		61,665		1.3 years	$	8.78		61,665	$	8.78
$9.10 - $9.90		80,313		0.4 years	$	9.48		80,313	$	9.48
$10.36 - $10.90		770,268		2.6 years	$	10.66		770,268	$	10.66
$12.45 - $13.34		309,977		6.9 years	$	12.88		309,977	$	12.88
$17.46 - $23.00		1,502,669		6.3 years	$	19.92		1,236,572	$	19.55
$24.00 - $30.00		1,133,657		7.9 years	$	25.98		829,664	$	25.38
$34.40 - $37.64		464,239		6.8 years	$	35.37		350,873	$	35.57
$40.00 - $40.69		8,413		6.2 years	$	40.69		8,413	$	40.69

The following table summarizes non-vested stock option activity for the year ended December 31, 2011:


	Number of Options			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2010		869,971		$	10.23
Granted		207,183		$	13.54
Vested		(393,698	)	$	9.61

Non-vested at December 31, 2011		683,456		$	11.59

As of December 31, 2011, there was approximately $6.8 million of unrecognized compensation expense related to non-vested stock options outstanding. The Company expects to recognize approximately $3.7 million, $2.2 million and $0.9 million of compensation expense during the years 2012, 2013 and 2014, respectively, for these outstanding non-vested stock options.

Restricted Stock

During the year ended December 31, 2011, the Company granted 567,083 shares of restricted stock to its employees. Shares of restricted stock generally vest in equal annual installments over three years. Non-vested shares are generally forfeitable upon the termination of employment. Holders of restricted stock are entitled to all rights of a shareholder of the Company with respect to the restricted stock, including the right to vote the shares and receive any dividends or other distributions. Compensation expense associated with restricted stock is measured based on the grant date fair value of our common stock and is recognized on a straight line basis over the vesting period. The Company’s compensation expense related to restricted stock outstanding for the years ended December 31, 2011, 2010 and 2009 was approximately $6.0 million, $11.4 million and $5.8 million, respectively, which is reflected in general and administrative expenses. During 2010, the Company modified 282,781 shares of restricted stock affecting three employees in connection with the management transition of certain executive officers. These shares of restricted stock were accelerated to vest by December 31, 2010. The Company incurred incremental compensation cost of approximately $4.3 million during the year as a result of this modification.

A summary of the status of restricted stock for the year ended December 31, 2011 is presented in the table below:


	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2010		792,436		$	22.25
Granted		567,083		$	28.84
Vested		(294,144	)	$	19.80
Forfeited		(25,658	)	$	22.49

Non-vested at December 31, 2011		1,039,717		$	27.07

As of December 31, 2011, there was approximately $21.8 million of unrecognized compensation expense related to non-vested restricted stock. The Company expects to recognize approximately $9.1 million, $7.4 million, $5.3 million during the years 2012, 2013 and 2014, respectively, for non-vested restricted stock. In accordance with authoritative guidance related to stock-based compensation, the Company has reported tax benefits of approximately $1.6 million from the vesting of restricted stock for the year ended December 31, 2011 as financing cash flows.

Restricted Stock Units

Under the Amended and Restated 2004 Directors Restricted Stock Units Plan, each non-employee director is issued annually a number of Restricted Stock Units (RSUs) having an aggregate dollar value determined by the Company’s Board of Directors. The exact number of RSUs granted is determined by dividing the dollar value determined by the Company’s Board of Directors based on the fair market value of the Company’s common stock on the day of the annual stockholders’ meeting or a pro rata amount if the appointment occurs subsequent to the annual stockholders’ meeting. An RSU represents the right to receive from the Company, within 30 days of the date the director ceases to serve on the Board, one share of the Company’s common stock. At December 31, 2011, 170,457 RSUs were outstanding under this plan. The Company’s expense related to RSUs for the years ended December 31, 2011, 2010 and 2009 was approximately $1.2 million, $1.2 million and $0.6 million, respectively, which is reflected in general and administrative expenses.

A summary of the activity of restricted stock units for the year ended December 31, 2011 is presented in the table below:


	Number of Restricted Stock Units		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2010		136,173	$	27.02
Granted		34,284	$	35.10

Outstanding at December 31, 2011		170,457	$	28.64

Performance Share Units

The Company has issued performance share units (PSUs) to its employees as part of the Company’s long-term incentive program. There is a three year performance period associated with each PSU grant. The two performance measures applicable to all participants are the Company’s return on invested capital and total shareholder return relative to those of the Company’s pre-defined “peer group.” The PSUs provide for settlement in cash or up to 50% in equivalent value in the Company’s common stock, provided the participant has met specified continued service requirements. At December 31, 2011, there were 366,133 PSUs outstanding (70,522, 96,673, 81,154 and 117,784 related to performance periods ending December 31, 2011, 2012, 2013 and 2014, respectively). The Company’s compensation expense related to all outstanding PSUs for the years ended December 31, 2011, 2010 and 2009 was approximately $3.2 million, $5.2 million and $7.3 million, respectively, which is reflected in general and administrative expenses. The Company has recorded a current liability of approximately $3.8 million and $6.0 million at December 31, 2011 and 2010, respectively, for outstanding PSUs, which is reflected in accrued expenses. Additionally, the Company has recorded a long-term liability of approximately $6.8 million and $7.0 million at December 31, 2011 and 2010, respectively, for outstanding PSUs, which is reflected in other long-term liabilities. In 2011, the Company paid approximately $2.8 million and issued approximately 67,300 shares of its common stock to settle PSUs for the performance period ended December 31, 2010. In 2010, the Company paid approximately $6.4 million in cash to settle PSUs for the performance period ended December 31, 2009. In 2009, the Company paid approximately $4.7 million in cash and issued approximately 71,400 shares of its common stock to its employees to settle PSUs for the performance period ended December 31, 2008.

Employee Stock Purchase Plan

The Company has an employee stock purchase plan under which an aggregate of 1,250,000 shares of common stock were reserved for issuance. Under this stock purchase plan, eligible employees can purchase shares of the Company’s common stock at a discount. The Company received approximately $2.2 million, $1.9 million and $2.0 million related to shares issued under these plans for the years ended December 31, 2011, 2010 and 2009, respectively. For the years ended December 31, 2011, 2010 and 2009, the Company recorded compensation expense of approximately $388,000, $345,000 and $350,000, respectively, which is reflected in general and administrative expenses. Additionally, the Company issued approximately 75,700, 94,200 and 133,400 shares for the years ended December 31, 2011, 2010 and 2009, respectively, related to these stock purchase plans.

Profit Sharing Plan

The Company maintains a defined contribution profit sharing plan for employees who have satisfied minimum service requirements. Employees may contribute up to 75% of their earnings to the plan subject to the contribution limitations imposed by the Internal Revenue Service. The Company may provide a discretionary match, not to exceed 5% of an employee’s salary. The Company made contributions of approximately $7.4 million, $3.3 million and $3.8 million in 2011, 2010 and 2009, respectively.

Non-Qualified Deferred Compensation Plan

The Company has a non-qualified deferred compensation plan which allows certain highly compensated employees the option to defer up to 75% of their base salary, up to 100% of their bonus, and up to 100% of the cash portion of their performance share unit compensation to the plan. Payments are made to participants based on their annual enrollment elections and plan balances. Participants earn a return on their deferred compensation that is based on hypothetical investments in certain mutual funds. Changes in market value of these hypothetical participant investments are reflected as an adjustment to the deferred compensation liability of the Company with an offset to compensation expense (see note 14). At December 31, 2011 and 2010, the liability of the Company to the participants was approximately $13.0 million and $14.2 million, respectively, which reflects the accumulated participant deferrals and earnings (losses) as of that date. These amounts are recorded in other long-term liabilities. Additionally at December 31, 2011 and 2010, the Company had approximately $2.8 million and $3.0 million in accounts payable in anticipation of pending payments. For the years ended December 31, 2011, 2010 and 2009, the Company recorded compensation income (expense) of approximately $0.1 million, ($1.8) million and ($2.8) million, respectively, related to the earnings and losses of the deferred compensation plan liability. The Company makes contributions that approximate the participant deferrals into various investments, principally life insurance that is invested in mutual funds similar to the participants’ hypothetical investment elections. Changes in market value of the investments and life insurance are reflected as adjustments to the deferred compensation plan asset with an offset to other income (expense). At December 31, 2011 and 2010, the deferred contribution plan asset was approximately $10.6 million and $10.8 million, respectively, and is recorded in intangible and other long-term assets. For the years ended December 31, 2011, 2010 and 2009, the Company recorded other income (expense) of ($0.2) million, $0.8 million, $0.6 million, respectively, related to the earnings and losses of the deferred compensation plan assets.

Supplemental Executive Retirement Plan

The Company also has a supplemental executive retirement plan (SERP). The SERP provides retirement benefits to the Company’s executive officers and certain other designated key employees. The SERP is an unfunded, non-qualified defined contribution retirement plan, and all contributions under the plan are unfunded credits to a notional account maintained for each participant. Under the SERP, the Company will generally make annual contributions to a retirement account based on age and years of service. During 2011, 2010 and 2009, the participants in the plan received contributions ranging from 5% to 35% of salary and annual cash bonus, which totaled approximately $1.0 million, $5.5 million and $2.2 million, respectively. The Company may also make discretionary contributions to a participant’s retirement account. In 2010, the Company made a discretionary contribution to the account of its former chief operating officer in the amount of $4.7 million as part of its executive management transition. The Company recorded $1.8 million, $5.6 million and $2.1 million of compensation expense in general and administrative expenses for the years ended December 31, 2011, 2010 and 2009, respectively, inclusive of discretionary contributions. During the year ended December 31, 2011, the Company paid approximately $5.5 million to select participants of this plan. There were no payments to participants of this plan in the years 2010 and 2009.

Subsequent Event

At the effective time of the merger with Complete, each outstanding stock option and all unvested restricted stock in respect of Complete’s common stock issued pursuant to the Complete Plans was converted into corresponding stock options with respect to the Company common stock and the right to receive restricted shares of the Company’s common stock, respectively. The Company expects to expense approximately $1.5 million in stock options and $18.2 million in restricted stock over the remaining service term of these awards.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

+ Details

Income Taxes

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Income Taxes

(10) Income Taxes

The components of income and loss from continuing operations before income taxes for the years ended December 31, 2011, 2010 and 2009 are as follows (in thousands):

		00000000		00000000		00000000
	2011		2010		2009
Domestic	$	244,401	$	124,463	$	(220,351	)
Foreign		792		7,114		31,664

	$	245,193	$	131,577	$	(188,687	)

The components of income tax expense (benefit) for the years ended December 31, 2011, 2010 and 2009 are as follows (in thousands):

		00000000			00000000			00000000
	2011			2010			2009
Current:
Federal	$	14,227		$	15,791		$	585
State		785			1,874			(570	)
Foreign		19,716			17,628			16,019

		34,728			35,293			16,034

Deferred:
Federal		51,828			13,897			(81,597	)
State		1,121			(761	)		(1,415	)
Foreign		(1,873	)		(2,998	)		(1,169	)

		51,076			10,138			(84,181	)

	$	85,804		$	45,431		$	(68,147	)

Income tax expense (benefit) differs from the amounts computed by applying the U.S. Federal income tax rate of 35% to income (loss) before income taxes for the years ended December 31, 2011, 2010 and 2009 as follows (in thousands):


	2011			2010			2009
Computed expected tax expense (benefit)	$	85,818		$	46,052		$	(66,040	)
Increase (decrease) resulting from State and foreign income taxes		(2,106	)		1,839			(4,026	)
Other		2,092			(2,460	)		1,919

Income tax	$	85,804		$	45,431		$	(68,147	)

The tax effects of temporary differences that give rise to significant components of deferred income tax assets and liabilities at December 31, 2011 and 2010 are as follows (in thousands):


	2011		2010
Deferred tax assets:
Allowance for doubtful accounts	$	9,054	$	7,097
Operating loss and tax credit carryforwards		24,101		10,120
Compensation and employee benefits		28,305		29,358
Decommissioning liabilities		39,638		37,909
Deferred interest expense related to exchangeable notes		—		526
Other		35,005		21,626


Net deferred tax assets		136,103		106,636

Deferred tax liabilities:
Property, plant and equipment		317,033		248,453
Notes receivable		25,599		23,857
Goodwill and other intangible assets		22,432		19,555
Deferred revenue on long-term contracts		47,341		53,465
Other		21,987		14,595


Deferred tax liabilities		434,392		359,925


Net deferred tax liability	$	298,289	$	253,289

The net deferred tax assets reflect management’s estimate of the amount that will be realized from future profitability and the reversal of taxable temporary differences that can be predicted with reasonable certainty. A valuation allowance is recognized if it is more likely than not that at least some portion of any deferred tax asset will not be realized.

Net deferred tax liabilities were classified in the consolidated balance sheet at December 31, 2011 and 2010 as follows (in thousands):


	2011		2010
Deferred tax liabilities:
Current deferred income taxes	$	831	$	29,353
Noncurrent deferred income taxes		297,458		223,936


Net deferred tax liability	$	298,289	$	253,289

As of December 31, 2011, the Company had approximately $1.8 million in net operating loss carryforwards, which are available to reduce future taxable income. The expiration dates for utilization of the loss carryforwards are 2020 through 2026. Utilization of $0.6 million of the net operating loss carryforwards will be subject to the annual limitations due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended. As of December 31, 2011, the Company also has various state net operating loss carryforwards of an estimated $60 million with expiration dates from 2020 to 2026. A deferred tax asset of $3.7 million reflects the expected future tax benefit for the state loss carryforwards.

The Company has not provided United States income tax expense on earnings of its foreign subsidiaries, since the Company has reinvested or expects to reinvest the undistributed earnings indefinitely. At December 31, 2011, the undistributed earnings of the Company’s foreign subsidiaries were approximately $154 million. If these earnings are repatriated to the United States in the future, additional tax provisions may be required. It is not practicable to estimate the amount of taxes that might be payable on such undistributed earnings.

The Company files income tax returns in the U.S. federal and 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 2007.

The Company had approximately $21.7 million, $24.8 million and $11.0 million of unrecorded tax benefits at December 31, 2011, 2010 and 2009, respectively, all of which would impact the Company’s effective tax rate if recognized.

The activity in unrecognized tax benefits at December 31, 2011, 2010 and 2009 is as follows (in thousands):


	2011			2010			2009
Unrecognized tax benefits,
December 31, 2010, 2009 and 2008, respectively	$	24,760		$	11,013		$	9,652
Additions based on tax positions related to current year		—			36			3,377
Additions based on tax positions related to prior years		871			16,607			186
Reductions based on tax positions related to prior years		(3,939	)		(2,896	)		(2,202	)


Unrecognized tax benefits,
December 31, 2011, 2010 and 2009, respectively	$	21,692		$	24,760		$	11,013

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

Segment Information

12 Months Ended

Dec. 31, 2011

Segment Information [Abstract]

Segment Information

(11) Segment Information

Business Segments

On March 30, 2012, the Company sold the 18 liftboats and related assets that comprised its Marine segment. Additionally, on February 15, 2012 the Company sold a derrick barge which was formerly reported within the Subsea and Well Enhancement segment. The operating results from these businesses have been included in discontinued operations on the consolidated statement of operations. The prior year segment presentation has been revised to reflect these changes.

The Company’s reportable segments are now as follows: (1) Subsea and Well Enhancement and (2) Drilling Products and Services. The Subsea and Well Enhancement segment provides production-related services used to enhance, extend and maintain oil and gas production, which include integrated subsea services and engineering services, mechanical wireline, hydraulic workover and snubbing, well control, coiled tubing, electric line, pumping and stimulation and wellbore evaluation services; well plug and abandonment services; stimulation and sand control equipment and services; and other oilfield services used to support drilling and production operations. The Subsea and Well Enhancement segment also includes production handling arrangements, as well as the production and sale of oil and gas. The Drilling Products and Services segment rents and sells stabilizers, 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 accounting policies of the reportable segments are the same as those described in note 1 of these notes to the consolidated financial statements. The Company evaluates the performance of its operating segments based on operating profits or losses. Segment revenues reflect direct sales of products and services for that segment, and each segment records direct expenses related to its employees and its operations. Identifiable assets are primarily those assets directly used in the operations of each segment.

Summarized financial information concerning the Company’s segments as of December 31, 2011, 2010 and 2009 and for the years then ended is shown in the following tables (in thousands):


2011	Subsea and Well Enhancement		Drilling Products and Services		Unallocated			Consolidated Total
Revenues	$	1,353,231	$	611,101	$	—		$	1,964,332
Cost of services, rentals, and sales		825,762		220,647		—			1,046,409
(exclusive of items shown separately below)
Depreciation, depletion, amortization and accretion		114,106		130,809		—			244,915
General and administrative		254,418		122,201		—			376,619
Income (loss) from operations		158,945		137,444		—			296,389
Interest expense, net		—		—		(72,994	)		(72,994	)
Interest income		4,542		—		1,684			6,226
Other income		105		—		(927	)		(822	)
Earnings from equity-method investments		—		—		16,394			16,394

Income (loss) from continuing operations before income taxes	$	163,592	$	137,444	$	(55,843	)	$	245,193


2010	Subsea and Well Enhancement		Drilling Products and Services		Unallocated			Consolidated Total
Revenues	$	1,088,336	$	474,707	$	—		$	1,563,043
Cost of services, rentals, and sales		672,029		176,463		—			848,492
(exclusive of items shown separately below)
Depreciation, depletion, amortization and accretion		93,364		114,733		—			208,097
General and administrative		223,757		108,845		—			332,602
Income (loss) from operations		99,186		74,666		—			173,852
Interest expense, net		—		—		(56,480	)		(56,480	)
Interest income		4,548		—		587			5,135
Other income		—		—		825			825
Earnings from equity-method investments		—		—		8,245			8,245

Income (loss) from continuing operations before income taxes	$	103,734	$	74,666	$	(46,823	)	$	131,577

		$xxx,xxxx,xx			$xxx,xxxx,xx		$xxx,xxxx,xx			$xxx,xxxx,xx
2009	Subsea and Well Enhancement			Drilling Products and Services		Unallocated			Consolidated Total
Revenues	$	893,765		$	426,876	$	—		$	1,320,641
Cost of services, rentals, and sales (exclusive of items shown separately below)		607,720			143,810		—			751,530
Depreciation and amortization		88,364			105,628		—			193,992
General and administrative		152,097			91,891		—			243,988
Reduction in value of assets		212,527			—		—			212,527
Income (loss) from operations		(166,943	)		85,547		—			(81,396	)
Interest expense, net		—			—		(49,702	)		(49,702	)
Interest income		—			—		926			926
Other income		—			—		571			571
Losses from equity-method investments		—			—		(22,600	)		(22,600	)
Reduction in the value of equity-method investment		—			—		(36,486	)		(36,486	)

Income (loss) from continuing operations before income taxes	$	(166,943	)	$	85,547	$	(107,291	)	$	(188,687	)

Identifiable Assets


	Subsea and Well Enhancement		Drilling Products and Services		Marine		Unallocated		Consolidated Total
December 31, 2011	$	2,863,550	$	947,679	$	164,444	$	72,472	$	4,048,145
December 31, 2010	$	1,769,813	$	802,785	$	255,883	$	79,052	$	2,907,533
December 31, 2009	$	1,377,122	$	759,418	$	299,834	$	80,291	$	2,516,665

Capital Expenditures

		$xxx,xxxx,xx		$xxx,xxxx,xx		$xxx,xxxx,xx		$xxx,xxxx,xx
	Subsea and Well Enhancement		Drilling Products and Services		Marine		Consolidated Total
December 31, 2011	$	286,066	$	219,121	$	2,514	$	507,701
December 31, 2010	$	150,313	$	142,942	$	29,989	$	323,244
December 31, 2009	$	99,551	$	124,845	$	66,881	$	291,277

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 a given fiscal year end. The Company’s information by geographic area is as follows (amounts in thousands):


	Revenues						Long-Lived Assets
	Years Ended December 31,						December 31,
	2011		2010		2009		2011		2010
United States	$	1,438,138	$	1,134,938	$	1,030,149	$	1,060,483	$	881,416
Other Countries		526,194		428,105		290,492		446,885		431,734

Total	$	1,964,332	$	1,563,043	$	1,320,641	$	1,507,368	$	1,313,150

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Publisher FASB
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-Publisher FASB
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+ Details

Guarantee

12 Months Ended

Dec. 31, 2011

Guarantee [Abstract]

Guarantee

(12)

Guarantee

In connection with the sale of SPN Resources in 2008, the Company guaranteed the performance of its decommissioning liabilities. In accordance with authoritative guidance related to guarantees, the Company has assigned an estimated value of $2.6 million at December 31, 2011 and 2010 related to decommissioning performance guarantees, which 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 that Dynamic Offshore defaults on the decommissioning liabilities existing at the closing date, the total maximum potential obligation under these guarantees is estimated to be approximately $158.7 million, net of the contractual right to receive payments from third parties, which is approximately $24.6 million, as of December 31, 2011. The total maximum potential obligation will decrease over time as the underlying obligations are fulfilled by SPN Resources.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies [Abstract]

Commitments and Contingencies

(13)	Commitments and Contingencies

The Company leases many of its office, service and assembly facilities under operating leases. In addition, the Company also leases certain assets used in providing services under operating leases. The leases expire at various dates over an extended period of time. Total rent expense was approximately $18.3 million, $15.1 million and $12.0 million in 2011, 2010 and 2009, respectively. Future minimum lease payments under non-cancelable leases for the five years ending December 31, 2012 through 2016 and thereafter are as follows: $20.7 million, $17.0 million, $14.3 million, $10.8 million, $9.1 million and $30.7 million, respectively.

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 our business activities. Legal costs related to these matters are expensed as incurred. In management’s opinion, none of the pending litigation, disputes or claims will have a material adverse effect on the Company’s financial condition, results of operations or liquidity.

- Definition

The entire disclosure for commitments and contingencies.

+ References

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-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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-Name Accounting Standards Codification
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-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2011

Fair Value Measurements [Abstract]

Fair Value Measurements

(14)	Fair Value Measurements

The following table provides a summary of the financial assets and liabilities measured at fair value on a recurring basis at December 31, 2011 and December 31, 2010 (in thousands):

		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx
			Fair Value Measurements at Reporting Date Using
	December 31, 2011		Level 1		Level 2		Level 3
Intangible and other long-term assets
Non-qualified deferred compensation assets	$	10,597	$	815	$	9,782		—
Interest rate swap	$	1,904		—	$	1,904		—

Accounts payable
Non-qualified deferred compensation liabilities	$	2,790		—	$	2,790		—

Other long-term liabilities
Non-qualified deferred compensation liabilities	$	12,975		—	$	12,975		—

		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx
	December 31, 2010		Level 1		Level 2		Level 3
Intangible and other long-term assets
Non-qualified deferred compensation assets	$	10,820	$	812	$	10,008		—
Interest rate swap	$	161		—	$	161		—

Accounts payable
Non-qualified deferred compensation liabilities	$	2,953	$	1,429	$	1,524		—

Other long-term liabilities
Non-qualified deferred compensation liabilities	$	14,236		—	$	14,236		—

The Company’s non-qualified deferred compensation plan allows officers and highly compensated employees to defer receipt of a portion of their compensation and contribute such amounts to one or more hypothetical investment funds (see note 9). The Company entered into a separate trust agreement, subject to general creditors, to segregate the assets of the plan and it reports the accounts of the trust in its 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 March 2010, the Company entered into an interest rate swap agreement for a notional amount of $150 million, whereby the Company is entitled to receive semi-annual interest payments at a fixed rate of 6 7/8% per annum and is obligated to make quarterly interest payments at a floating rate, which is adjusted every 90 days, based on LIBOR plus a fixed margin.

In accordance with authoritative guidance, non-financial assets and non-financial liabilities are remeasured at fair value on a non-recurring basis. During the year ended 2011, the Company wrote off approximately $46.1 million of certain long-lived assets to approximate the indicated fair value of the liftboats from the purchasers. During the year ended December 31, 2010, the Company wrote off approximately $32.0 million of long-lived liftboat components primarily related to the two partially completed liftboats. The write offs related to liftboats in both 2011 and 2010 are included in discontinued operations on the consolidated statement of operations for each respective period. During the year ended December 31, 2009, the Company identified impairments of certain long-lived assets of approximately $212.5 million. Additionally, during 2009, the Company recorded a $36.5 million reduction in the value of its equity-method investment in BOG.

The following table reflects the fair value measurements used in testing the impairment of long-lived assets during the years ended December 31, 2011, 2010 and 2009 (in thousands):

		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx
	Fair Value Measurements at Reporting Date Using
	December 31, 2011		(Level 1)		(Level 2)		(Level 3)		Total Losses
Property, plant and equipment, net	$	134,000		—		—	$	134,000	$	(35,762	)
Goodwill	$	-0-					$	-0-	$	(10,334	)

		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx
	December 31, 2010		(Level 1)		(Level 2)		(Level 3)		Total Losses
Property, plant and equipment, net	$	-0-		—		—	$	-0-	$	(32,004	)

		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx
	December 31, 2009		(Level 1)		(Level 2)		(Level 3)		Total Losses
Property, plant and equipment, net	$	107,591		—		—	$	107,591	$	(119,844	)
Intangible and other long-term assets, net	$	-0-		—		—	$	-0-	$	(92,683	)
Equity-method investments	$	-0-		—		—	$	-0-	$	(36,486	)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2011

Derivative Financial Instruments [Abstract]

Derivative Financial Instruments

(15)	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.

In March 2010, the Company entered into an interest rate swap agreement for a notional amount of $150 million related to its fixed rate debt maturing on June 1, 2014. This transaction was designated as a fair value hedge since the swap hedges against the change in fair value of fixed rate debt resulting from changes in interest rates. The Company recorded a derivative asset of $1.9 million and $0.2 million, respectively, within intangible and other long-term assets in the consolidated balance sheet at December 31, 2011 and 2010. The change in fair value of the interest rate swap is included in the adjustments to reconcile net income to net cash provided by operating activities in the consolidated statements of cash flows.

The location and effect of the derivative instrument on the consolidated statements of operations for the years ended December 31, 2011 and 2010, presented on a pre-tax basis, is as follows (in thousands):

	$xxx,xxx,xxx		$xxx,xxx,xxx			$xxx,xxx,xxx
	Location of (gain) loss recognized	Amount of (gain) loss recognized in the year ending December 31,
	Location of (gain) loss recognized	2011			2010
Interest rate swap	Interest expense, net	$	793		$	(1,742	)
Hedged item - debt	Interest expense, net		(2,536	)		1,581

		$	(1,743	)	$	(161	)

For the years ended December 31, 2011 and 2010, approximately $1.7 million and $0.2 million, respectively, of interest income was related to the ineffectiveness associated with this fair value hedge. 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.

This interest rate swap exposes the Company to credit risk to the extent that the counterparty may be unable to meet the terms of agreement. The counterparty to this agreement is a major financial institution which has an investment grade credit rating and is considered “well-capitalized” under applicable regulatory capital adequacy guidelines. Should the counterparty to this interest rate swap agreement fail to perform according to the terms of the contract, the Company would be required to pay interest at the stated rate of 6 7/8% related to its $300 million of unsecured senior notes with a maturity date of 2014.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Financial Information of Guarantor Subsidiaries

12 Months Ended

Dec. 31, 2011

Financial Information Related To Guarantor Subsidiaries [Abstract]

Financial Information of Guarantor Subsidiaries

(16)	Financial Information of Guarantor Subsidiaries

In April 2011, SESI, L.L.C. (Issuer), a 100% owned subsidiary of Superior Energy Services, Inc. (Parent), issued $500 million of unsecured 6 3/8% senior notes due 2019. In December 2011, SESI, L.L.C. issued $800 million of unsecured 7 1/8% senior notes due 2021. The Parent, along with substantially all of its domestic subsidiaries, fully and unconditionally guaranteed the senior notes, and such guarantees are joint and several. All of the guarantor subsidiaries are 100% owned subsidiaries of the Issuer. Domestic income taxes are paid by the Parent through a consolidated tax return and are accounted for by the Parent. In 2011, the Company reorganized its international legal entities. The Company has revised the comparative consolidating financial information to reflect the Parent’s and Issuer’s investments in subsidiaries using the equity method. The following tables present the condensed consolidating balance sheets as of December 31, 2011 and 2010, and the condensed consolidating statements of operations and cash flows for the years ended December 31, 2011, 2010 and 2009.

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidating Balance Sheets

December 31, 2011

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	29,057		$	6,272		$	44,945		$	—		$	80,274
Accounts receivable, net		—			531			437,963			143,444			(41,336	)		540,602
Income taxes receivable		—			—			—			698			(698	)		—
Prepaid expenses		34			3,893			9,796			20,314			—			34,037
Inventory and other current assets		—			1,796			214,381			12,132			—			228,309

Total current assets		34			35,277			668,412			221,533			(42,034	)		883,222

Property, plant and equipment, net		—			2,758			1,096,036			408,574			—			1,507,368
Goodwill		—			—			437,614			143,765			—			581,379
Notes receivable		—			—			73,568			—			—			73,568
Investments in subsidiaries		1,650,049			2,833,659			20,062			—			(4,503,770	)		—
Equity-method investments		—			70,614			—			1,858			—			72,472
Intangible and other long-term assets, net		—			828,447			71,625			30,064			—			930,136

Total assets	$	1,650,083		$	3,770,755		$	2,367,317		$	805,794		$	(4,545,804	)	$	4,048,145


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	—		$	4,307		$	128,996		$	86,723		$	(41,381	)	$	178,645
Accrued expenses		164			54,000			105,512			38,503			(605	)		197,574
Income taxes payable		1,415			—			—			—			(698	)		717
Deferred income taxes		831			—			—			—			—			831
Current portion of decommissioning liabilities		—			—			14,956			—			—			14,956
Current maturities of long-term debt		—			—			—			810			—			810

Total current liabilities		2,410			58,307			249,464			126,036			(42,684	)		393,533

Deferred income taxes		285,871			—			—			11,587			—			297,458
Decommissioning liabilities		—			—			108,220			—			—			108,220
Long-term debt, net		—			1,673,351			—			11,736			—			1,685,087
Intercompany payables/(receivables)		(96,989	)		356,668			(253,053	)		(7,276	)		650			—
Other long-term liabilities		5,192			32,380			26,704			45,972			—			110,248

Stockholders’ equity:
Preferred stock of $.01 par value		—			—			—			—			—			—
Common stock of $.001 par value		80			—			—			4,212			(4,212	)		80
Additional paid in capital		447,007			124,271			—			517,209			(641,480	)		447,007
Accumulated other comprehensive loss, net		(26,936	)		(26,936	)		—			(26,936	)		53,872			(26,936	)
Retained earnings (accumulated deficit)		1,033,448			1,552,714			2,235,982			123,254			(3,911,950	)		1,033,448

Total stockholders’ equity (deficit)		1,453,599			1,650,049			2,235,982			617,739			(4,503,770	)		1,453,599

Total liabilities and stockholders’ equity	$	1,650,083		$	3,770,755		$	2,367,317		$	805,794		$	(4,545,804	)	$	4,048,145

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidating Balance Sheets

December 31, 2010

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	—		$	5,493		$	45,234		$	—		$	50,727
Accounts receivable, net		—			415			382,935			99,010			(29,910	)		452,450
Income taxes receivable		—			—			—			2,024			(2,024	)		—
Prepaid expenses		18			4,128			8,948			12,734			—			25,828
Inventory and other current assets		—			1,678			222,822			10,547			—			235,047
Intercompany interest receivable		—			15,883			—			—			(15,883	)		—

Total current assets		18			22,104			620,198			169,549			(47,817	)		764,052

Property, plant and equipment, net		—			3,189			957,561			352,400			—			1,313,150
Goodwill		—			—			447,467			140,533			—			588,000
Notes receivable		—			—			69,026			—			—			69,026
Intercompany notes receivable		—			456,280			—			—			(456,280	)		—
Investments in subsidiaries		1,433,087			2,058,552			21,788			4,347			(3,517,774	)		—
Equity-method investments		—			43,947			—			15,375			—			59,322
Intangible and other long-term assets, net		—			22,455			61,722			29,806			—			113,983

Total assets	$	1,433,105		$	2,606,527		$	2,177,762		$	712,010		$	(4,021,871	)	$	2,907,533

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	—		$	6,654		$	71,790		$	64,636		$	(32,804	)	$	110,276
Accrued expenses		153			42,821			91,451			27,619			—			162,044
Income taxes payable		4,499			—			—			—			(2,024	)		2,475
Deferred income taxes		29,353			—			—			—			—			29,353
Current portion of decommissioning liabilities		—			—			16,929			—			—			16,929
Current maturities of long-term debt		—			184,000			—			810			—			184,810
Intercompany interest payable		—			—			—			15,883			(15,883	)		—

Total current liabilities		34,005			233,475			180,170			108,948			(50,711	)		505,887

Deferred income taxes		211,173			—			—			12,763			—			223,936
Decommissioning liabilities		—			—			100,787			—			—			100,787
Long-term debt, net		—			669,089			—			12,546			—			681,635
Intercompany notes payable		—			—			—			456,280			(456,280	)		—
Intercompany payables/(receivables)		(100,884	)		233,339			(1,410	)		(125,246	)		(5,799	)		—
Other long-term liabilities		8,260			37,537			19,427			49,513			—			114,737

Stockholders’ equity:
Preferred stock of $.01 par value		—			—			4,347			4,347			(8,694	)		—
Common stock of $.001 par value		79			—			—			176			(176	)		79
Additional paid in capital		415,278			124,271			—			66,762			(191,033	)		415,278
Accumulated other comprehensive loss, net		(25,700	)		(25,700	)		—			(25,700	)		51,400			(25,700	)
Retained earnings (accumulated deficit)		890,894			1,334,516			1,874,441			151,621			(3,360,578	)		890,894

Total stockholders’ equity (deficit)		1,280,551			1,433,087			1,878,788			197,206			(3,509,081	)		1,280,551

Total liabilities and stockholders’ equity	$	1,433,105		$	2,606,527		$	2,177,762		$	712,010		$	(4,021,871	)	$	2,907,533

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidating Statements of Operations

Year Ended December 31, 2011

(in thousands)

		$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx
	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	—		$	1,624,945		$	406,843		$	(67,456	)	$	1,964,332
Cost of services (exclusive of items shown separately below)		—			—			817,551			295,998			(67,140	)		1,046,409
Depreciation, depletion, amortization and accretion		—			523			200,614			43,778			—			244,915
General and administrative expenses		683			79,672			230,972			65,608			(316	)		376,619

Income (loss) from operations		(683	)		(80,195	)		375,808			1,459			—			296,389

Other income (expense):
Interest expense, net		—			(72,414	)		(43	)		(537	)		—			(72,994	)
Interest income		—			1,097			4,536			593			—			6,226
Intercompany interest income (expense)		—			26,673			—			(26,673	)		—			—
Other income (expense)		—			(1,005	)		183			—			—			(822	)
Earnings (losses) from consolidated subsidiaries		218,198			330,553			2,621			—			(551,372	)		—
Earnings (losses) from equity-method investments, net		—			15,180			—			1,214			—			16,394

Income (loss) from continuing operations before income taxes		217,515			219,889			383,105			(23,944	)		(551,372	)		245,193
Income taxes		81,533			—			—			4,271			—			85,804

Net income (loss) from continuing operations		135,982			219,889			383,105			(28,215	)		(551,372	)		159,389
Discontinued operations, net of income tax		6,572			(1,691	)		(21,564	)		(152	)		—			(16,835	)

Net income (loss)	$	142,554		$	218,198		$	361,541		$	(28,367	)	$	(551,372	)	$	142,554

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income (Loss)

Year Ended December 31, 2011

(in thousands)

		$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx		$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx
	Parent			Issuer			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	142,554		$	218,198		$	361,541	$	(28,367	)	$	(551,372	)	$	142,554
Change in cumulative translation adjustment		(1,236	)		(1,236	)		—		(1,236	)		2,472			(1,236	)

Comprehensive income (loss)	$	141,318		$	216,962		$	361,541	$	(29,603	)	$	(548,900	)	$	141,318

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidating Statements of Operations

Year Ended December 31, 2010

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	—		$	1,295,946		$	337,526		$	(70,429	)	$	1,563,043
Cost of services (exclusive of items shown separately below)		—			—			687,519			231,082			(70,109	)		848,492
Depreciation, depletion, amortization and accretion		—			515			169,528			38,054			—			208,097
General and administrative expenses		322			98,220			181,234			53,146			(320	)		332,602

Income (loss) from operations		(322	)		(98,735	)		257,665			15,244			—			173,852

Other income (expense):
Interest expense, net		—			(53,716	)		(216	)		(2,548	)		—			(56,480	)
Interest income					150			4,459			526			—			5,135
Intercompany interest income (expense)		—			15,883			—			(15,883	)		—			—
Other income (expense)					825			—			—			—			825
Earnings (losses) from consolidated subsidiaries		119,801			255,257			3,555			—			(378,613	)		—
Earnings (losses) from equity-method investments, net		—			985			—			7,260			—			8,245

Income (loss) from continuing operations before income taxes		119,479			120,649			265,463			4,599			(378,613	)		131,577
Income taxes		39,722			—			—			5,709			—			45,431

Net income (loss) from continuing operations		79,757			120,649			265,463			(1,110	)		(378,613	)		86,146
Discontinued operations, net of income tax		2,060			(848	)		(5,387	)		(154	)		—			(4,329	)

Net income (loss)	$	81,817		$	119,801		$	260,076		$	(1,264	)	$	(378,613	)	$	81,817

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income (Loss)

Year Ended December 31, 2010

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	81,817		$	119,801		$	260,076	$	(1,264	)	$	(378,613	)	$	81,817
Change in cumulative translation adjustment		(6,704	)		(6,704	)		—		(6,704	)		13,408			(6,704	)

Comprehensive income (loss)	$	75,113		$	113,097		$	260,076	$	(7,968	)	$	(365,205	)	$	75,113

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidating Statements of Operations

Year Ended December 31, 2009

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	—		$	1,178,883		$	185,048		$	(43,290	)	$	1,320,641
Cost of services (exclusive of items shown separately below)		—			—			688,766			106,054			(43,290	)		751,530
Depreciation and amortization		—			476			171,902			21,614			—			193,992
General and administrative expenses		(184	)		60,013			154,376			29,783			—			243,988
Reduction in value of assets		—			—			212,527			—			—			212,527

Income (loss) from operations		184			(60,489	)		(48,688	)		27,597			—			(81,396	)

Other income (expense):
Interest expense, net		—			(48,707	)		—			(995	)		—			(49,702	)
Interest income					87			670			169			—			926
Other income (expense)					571			—			—			—			571
Earnings (losses) from consolidated subsidiaries		(168,312	)		(448	)		2,911			—			165,849			—
Earnings (losses) from equity-method investments, net		—			(21,631	)		—			(969	)		—			(22,600	)
Reduction in value of equity-method investments		—			(36,486	)		—			—			—			(36,486	)

Income (loss) from continuing operations before income taxes		(168,128	)		(167,103	)		(45,107	)		25,802			165,849			(188,687	)
Income taxes		(76,443	)		—			—			8,296			—			(68,147	)

Net income (loss) from continuing operations		(91,685	)		(167,103	)		(45,107	)		17,506			165,849			(120,540	)
Discontinued operations, net of income tax		(10,638	)		(1,209	)		30,147			(83	)		—			18,217

Net income (loss)	$	(102,323	)	$	(168,312	)	$	(14,960	)	$	17,423		$	165,849		$	(102,323	)

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income (Loss)

Year Ended December 31, 2009

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations			Consolidated
Net income (loss)	$	(102,323	)	$	(168,312	)	$	(14,960	)	$	17,423	$	165,849		$	(102,323	)
Disposition of hedging positions of equity-method investments, net of tax		—			(3,881	)		—			—		—			(3,881	)
Change in cumulative translation adjustment		17,526			17,526			—			17,526		(35,052	)		17,526

Comprehensive income (loss)	$	(84,797	)	$	(154,667	)	$	(14,960	)	$	34,949	$	130,797		$	(88,678	)

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Condensed Consolidating Statements of Cash Flows

Year Ended December 31, 2011

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net income (loss)	$	142,554		$	218,198		$	361,541		$	(28,367	)	$	(551,372	)	$	142,554
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion		—			523			211,988			44,802			—			257,313
Deferred income taxes		49,946			—			—			(1,873	)		—			48,073
Excess tax benefit from stock-based compensation		(9,004	)		—			—			—			—			(9,004	)
Reduction in value of assets		—			—			46,096			—			—			46,096
Stock-based and performance share unit compensation expense		—			14,032			—			—			—			14,032
Retirement and deferred compensation plans expense		—			1,990			—			—			—			1,990
(Earnings) losses from consolidated subsidiaries		(218,198	)		(330,553	)		(2,621	)		—			551,372			—
(Earnings) losses from equity-method investments, net of cash received		—			(12,001	)		—			(1,151	)		—			(13,152	)
Amortization of debt acquisition costs and note discount		—			25,154			—			24			—			25,178
Gain on sale of businesses		—			—			(8,558	)		—			—			(8,558	)
Other reconciling items, net		—			(1,884	)		(4,542	)		—			—			(6,426	)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable		—			(117	)		(51,133	)		(35,564	)		—			(86,814	)
Inventory and other current assets		—			(117	)		5,348			(3,049	)		—			2,182
Accounts payable		—			(2,348	)		26,499			16,138			—			40,289
Accrued expenses		12			7,983			11,801			5,165			—			24,961
Decommissioning liabilities		—			—			(504	)		—			—			(504	)
Income taxes		(917	)		—			—			(461	)		—			(1,378	)
Other, net		(16	)		(1,024	)		18,646			(1,634	)		—			15,972

Net cash provided by (used in) operating activities		(35,623	)		(80,164	)		614,561			(5,970	)		—			492,804
Cash flows from investing activities:
Payments for capital expenditures		—			(93	)		(383,785	)		(100,770	)		—			(484,648	)
Change in restricted cash held for acquisition of a business		—			(785,280	)		—			—			—			(785,280	)
Purchase of short-term investments		—			(223,491	)		—			—			—			(223,491	)
Proceeds from sale of short-term investments		—			223,630			—			—			—			223,630
Acquisitions of businesses, net of cash acquired		—			—			(1,200	)		(548	)		—			(1,748	)
Proceeds from sale of businesses		—			—			22,349			—			—			22,349
Other		—			—			(721	)		—			—			(721	)
Intercompany receivables/payables		14,485			125,015			(250,425	)		110,925			—			—

Net cash provided by (used in) investing activities		14,485			(660,219	)		(613,782	)		9,607			—			(1,249,909	)
Cash flows from financing activities:
Net (payments) borrowings from revolving line of credit		—			(100,000	)		—			—			—			(100,000	)
Proceeds from issuance of long-term debt		—			1,300,000			—			—			—			1,300,000
Principal payments on long-term debt		—			(400,000	)		—			(810	)		—			(400,810	)
Payment of debt issuance costs		—			(24,428	)		—			—			—			(24,428	)
Proceeds from exercise of stock options		10,263			—			—			—			—			10,263
Excess tax benefit from stock-based compensation		9,004			—			—			—			—			9,004
Proceeds from issuance of stock through employee benefit plans		2,206			—			—			—			—			2,206
Other		(335	)		(6,132	)		—			(3,195	)		—			(9,662	)

Net cash provided by (used in) financing activities		21,138			769,440			—			(4,005	)		—			786,573
Effect of exchange rate changes on cash		—			—			—			79			—			79


Net increase (decrease) in cash and cash equivalents		—			29,057			779			(289	)		—			29,547
Cash and cash equivalents at beginning of period		—			—			5,493			45,234			—			50,727

Cash and cash equivalents at end of period	$	—		$	29,057		$	6,272		$	44,945		$	—		$	80,274

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Condensed Consolidating Statements of Cash Flows

Year Ended December 31, 2010

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net income (loss)	$	81,817		$	119,801		$	260,076		$	(1,264	)	$	(378,613	)	$	81,817
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion		—			515			181,216			39,104			—			220,835
Deferred income taxes		10,650			—			—			(2,374	)		—			8,276
Excess tax benefit from stock-based compensation		(560	)														(560	)
Reduction in value of assets		—			—			32,004			—			—			32,004
Stock-based and performance share unit compensation expense		—			27,207			—			—			—			27,207
Retirement and deferred compensation plans expense		—			4,825			—			—			—			4,825
(Earnings) losses from consolidated subsidiaries		(119,801	)		(255,257	)		(3,555	)		—			378,613			—
(Earnings) losses from equity-method investments, net of cash received		—			9,005			—			(6,100	)		—			2,905
Amortization of debt acquisition costs and note discount		—			23,954			—			—			—			23,954
Gain on sale of business		—			—			(1,083	)		—			—			(1,083	)
Other reconciling items, net		—			(161	)		(4,547	)		—			—			(4,708	)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable		—			275			(76,669	)		(13,406	)		—			(89,800	)
Inventory and other current assets		—			163			89,302			(3,778	)		—			85,687
Accounts payable		—			2,001			18,928			(626	)		—			20,303
Accrued expenses		38			5,800			1,735			7,181			—			14,754
Decommissioning liabilities		—			—			(1,759	)		—			—			(1,759	)
Income taxes		13,536			—			—			(3,026	)		—			10,510
Other, net		(1,417	)		(3,143	)		21,280			4,086			—			20,806

Net cash provided by (used in) operating activities		(15,737	)		(65,015	)		516,928			19,797			—			455,973
Cash flows from investing activities:
Payments for capital expenditures		—			—			(218,726	)		(104,518	)		—			(323,244	)
Acquisitions of businesses, net of cash acquired		—			—			(56,560	)		(219,517	)		—			(276,077	)
Proceeds from sale of business		—			—			5,250			—			—			5,250
Other		—			2,387			(11,537	)		(252	)		—			(9,402	)
Intercompany receivables/payables		12,359			(102,093	)		(234,733	)		324,467			—			—

Net cash provided by (used in) investing activities		12,359			(99,706	)		(516,306	)		180			—			(603,473	)
Cash flows from financing activities:
Net (payments) borrowings from revolving line of credit		—			(2,000	)		—			—			—			(2,000	)
Principal payments on long-term debt		—			—			—			(810	)		—			(810	)
Payment of debt issuance costs		—			(5,182	)		—			—			—			(5,182	)
Proceeds from exercise of stock options		927			—			—			—			—			927
Excess tax benefit from stock-based compensation		560			—			—			—			—			560
Proceeds from issuance of stock through employee benefit plans		1,891			—			—			—			—			1,891
Other		—			—			—			(3,443	)		—			(3,443	)

Net cash provided by (used in) financing activities		3,378			(7,182	)		—			(4,253	)		—			(8,057	)

Effect of exchange rate changes on cash		—			—			—			(221	)		—			(221	)

Net increase (decrease) in cash and cash equivalents		—			(171,903	)		622			15,503			—			(155,778	)
Cash and cash equivalents at beginning of period		—			171,903			4,871			29,731			—			206,505

Cash and cash equivalents at end of period	$	—		$	—		$	5,493		$	45,234		$	—		$	50,727

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Condensed Consolidating Statements of Cash Flows

Year Ended December 31, 2009

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net income (loss)	$	(102,323	)	$	(168,312	)	$	(14,960	)	$	17,423		$	165,849		$	(102,323	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		—			476			184,084			22,554			—			207,114
Deferred income taxes		(73,127	)		—			—			(1,577	)		—			(74,704	)
Excess tax benefit from stock-based compensation		(170	)		—			—			—			—			(170	)
Reduction in value of assets		—			—			212,527			—			—			212,527
Reduction in value of equity-method investments		—			36,486			—			—			—			36,486
Stock-based and performance share unit compensation expense		—			11,785			—			—			—			11,785
Retirement and deferred compensation plans expense		—			1,550			—			—			—			1,550
(Earnings) losses from consolidated subsidiaries		168,312			448			(2,911	)		—			(165,849	)		—
(Earnings) losses from equity-method investments, net of cash received		—			27,637			—			969			—			28,606
Amortization of debt acquisition costs and note discount		—			21,744			—			—			—			21,744
Gain on sale of businesses		—			—			(2,084	)		—			—			(2,084	)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable		—			(156	)		19,940			5,825			—			25,609
Inventory and other current assets		—			(211	)		(48,786	)		(2,323	)		—			(51,320	)
Accounts payable		—			609			(27,786	)		2,540			—			(24,637	)
Accrued expenses		(469	)		(13,381	)		(27,381	)		(33	)		—			(41,264	)
Income taxes		4,270			—			—			(6,571	)		—			(2,301	)
Other, net		1,970			6,925			17,493			3,097			—			29,485

Net cash provided by (used in) operating activities		(1,537	)		(74,400	)		310,136			41,904			—			276,103
Cash flows from investing activities:
Payments for capital expenditures		—			—			(240,907	)		(45,370	)		—			(286,277	)
Acquisitions of businesses, net of cash acquired		—			—			(1,247	)		—			—			(1,247	)
Proceeds from sale of businesses		—			—			7,716			—			—			7,716
Cash contributed to equity-method investment		—			—			—			(8,694	)		—			(8,694	)
Other		—			(3,769	)		—			—			—			(3,769	)
Intercompany receivables/payables		(966	)		64,509			(76,684	)		13,141			—			—

Net cash provided by (used in) investing activities		(966	)		60,740			(311,122	)		(40,923	)		—			(292,271	)
Cash flows from financing activities:
Net (payments) borrowings from revolving line of credit		—			177,000			—			—			—			177,000
Principal payments on long-term debt		—			—			—			(810	)		—			(810	)
Payment of debt issuance costs		—			(2,308	)		—			—			—			(2,308	)
Proceeds from exercise of stock options		375			—			—			—			—			375
Excess tax benefit from stock-based compensation		170			—			—			—			—			170
Proceeds from issuance of stock through employee benefit plans		1,958			—			—			—			—			1,958

Net cash provided by (used in) financing activities		2,503			174,692			—			(810	)		—			176,385
Effect of exchange rate changes on cash		—			—			—			1,435			—			1,435

Net increase (decrease) in cash and cash equivalents		—			161,032			(986	)		1,606			—			161,652
Cash and cash equivalents at beginning of period		—			10,871			5,857			28,125			—			44,853

Cash and cash equivalents at end of period	$	—		$	171,903		$	4,871		$	29,731		$	—		$	206,505

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References + Details

Interim Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2011

Interim Financial Information (Unaudited) [Abstract]

Interim Financial Information (Unaudited)

(17)	Interim Financial Information (Unaudited)

The following is a summary of consolidated interim financial information for the years ended December 31, 2011 and 2010 (amounts in thousands, except per share data).


	Three Months Ended
	March 31		June 30		Sept. 30		Dec. 31
2011
Revenues	$	384,997	$	479,893	$	537,042	$	562,400
Less:
Cost of services, rentals and sales		217,022		250,667		285,124		293,596
Depreciation, depletion, amortization and accretion		55,824		60,020		61,807		67,264

Gross profit		112,151		169,206		190,111		201,540
Net income from continuing operations		9,877		41,375		54,799		53,338
Earnings per share from continuing operations:
Basic	$	0.12	$	0.52	$	0.69	$	0.67
Diluted		0.12		0.51		0.67		0.67


	Three Months Ended
	March 31		June 30		Sept. 30		Dec. 31
2010
Revenues	$	338,744	$	400,411	$	402,392	$	421,496
Less:
Cost of services, rentals and sales		180,565		211,214		216,564		240,149
Depreciation, depletion, amortization and accretion		48,178		51,238		53,524		55,157

Gross profit		110,001		137,959		132,304		126,190
Net income from continuing operations		20,374		23,949		25,809		16,014
Earnings per share from continuing operations:
Basic	$	0.26	$	0.30	$	0.33	$	0.20
Diluted		0.26		0.30		0.32		0.20

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Supplementary Oil and Natural Gas Disclosures (Unaudited)

12 Months Ended

Dec. 31, 2011

Supplementary Oil and Natural Gas Disclosures [Abstract]

Supplementary Oil and Natural Gas Disclosures (Unaudited)

(18)	Supplementary Oil and Natural Gas Disclosures (Unaudited)

On January 31, 2010, Wild Well acquired 100% ownership of Shell Offshore, Inc.’s Gulf of Mexico Bullwinkle platform and its related assets and assumed the related decommissioning obligation. Immediately after Wild Well acquired these assets, it conveyed an undivided 49% interest in these assets and the related well plugging and abandonment obligations to Dynamic Offshore, which operates these assets (see note 3). The Company also has an interest in oil and gas operations through its equity-method investment in Dynamic Offshore (see note 7).

In January 2010, the Financial Accounting Standards Board issued an update to the authoritative guidance related to oil and gas reserve estimation and disclosures that expands the definition of oil- and gas-producing activities and requires disclosures of reserve quantities and standardized measure of cash flows for equity-method investments that have significant oil- and gas-producing activities.

The Company’s December 31, 2011 estimates of proved reserves are based on reserve reports prepared by Netherland, Sewell & Associates, Inc., independent petroleum engineers. The Company’s December 31, 2010 estimates of proved reserves were based on reserve reports prepared by DeGoyler and MacNaughton and Netherland, Sewell & Associates Inc. Users of this information should be aware that the process of estimating quantities of “proved”, “proved developed” and “proved undeveloped” natural gas and crude oil reserves is very complex, requiring significant subjective decisions in the evaluation of all available geological, engineering and economic data for each reservoir. This data may also change substantially over time as a result of multiple factors including, but not limited to, additional development activity, evolving production history and continual reassessment of the viability of production under varying economic conditions. Consequently, material revisions to existing reserve estimates occur from time to time. Although every reasonable effort is made to ensure that reserve estimates reported represent the most accurate assessments possible, the significance of the subjective decisions required and variances in available data for various reservoirs make these estimates generally less precise than other estimates presented in connection with financial statement disclosures. Proved reserves are estimated quantities of natural gas, crude oil and condensate that geological and engineering data demonstrate, with reasonable certainty, to be recoverable in future years from known reservoirs under existing economic and operating conditions. Proved developed reserves are proved reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. Proved undeveloped reserves are proved reserves that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for completion.

Oil and Natural Gas Reserves

The following table sets forth the Company’s net proved reserves, including the changes therein, and proved developed reserves:


	Consolidated						Company’s Share of Equity-Method Investments
	Crude Oil			Natural Gas			Crude Oil			Natural Gas
	(Mbbls)			(Mmcf)			(Mbbls)			(Mmcf)
Proved-developed and undeveloped reserves:
December 31, 2009		—			—			3,242			23,255
Purchase of reserves in place		5,686			4,377			34			8
Revisions		723			1,572			564			692
Extensions, discoveries and other additions		—			—			—			413
Change in ownership percentage		—			—			(32	)		(1,347	)
Production		(427	)		(648	)		(413	)		(2,910	)


December 31, 2010		5,982			5,301			3,395			20,111
Purchase of reserves in place		—			—			958			8,045
Revisions		887			1,338			412			(547	)
Extensions, discoveries and other additions		—			—			—			—
Sale of reserves in-place		—			—			(1,159	)		(8,467	)
Production		(439	)		(371	)		(399	)		(906	)


December 31, 2011		6,430			6,268			3,207			18,236


Proved-developed reserves:
December 31, 2010		4,166			3,848			2,972			18,228
December 31, 2011		3,495			3,229			2,606			14,695

Proved-undeveloped reserves:
December 31, 2010		1,817			1,453			423			1,885
December 31, 2011		2,935			3,039			602			3,542

Costs Incurred in Oil and Natural Gas Activities

The following table displays certain information regarding the costs incurred associated with finding, acquiring and developing the Company’s proved oil and natural gas reserves for the years ended December 31, 2011 and 2010 (in thousands).


	Consolidated				Company’s Share of Equity-Method Investments
	Years Ended December 31,				Years Ended December 31,
	2011		2010		2011		2010
Acquisition of properties—proved	$	—	$	34,336	$	32,586	$	629
Acquisition of properties—unproved		—		—		—		118
Exploratory costs		—		359		—		—
Development costs		10,560		30		18,367		9,980

Total costs incurred	$	10,560	$	34,725	$	50,953	$	10,727

Capitalized costs for oil and gas producing activities consist of the following (in thousands):


	Consolidated						Company’s Share of Equity-Method Investments
	Years Ended December 31,						Years Ended December 31,
	2011			2010			2011			2010
Unproved oil and gas properties	$	—		$	—		$	13,559		$	24,097
Proved oil and gas properties		44,109			34,336			159,527			144,324
Accumulated depreciation, depletion and amortization		(8,215	)		(3,038	)		(52,764	)		(49,849	)

Capitalized costs, net	$	35,894		$	31,298		$	120,322		$	118,572

Productive Wells Summary

The following table presents the Company’s ownership of productive oil and natural gas wells as of December 31, 2011. Productive wells consist of producing wells and wells capable of production. In the table, “gross” refers to the total wells in which the Company owns an interest and “net” refers to the sum of fractional interests owned in gross wells.


	Consolidated Total				Company’s Share of Equity-Method Investments Total
	Productive Wells				Productive Wells
	Gross		Net		Gross		Net
Oil		10.00		5.10		28.50		18.13
Natural gas		—		—		22.70		11.07

Total		10.00		5.10		51.20		29.20

Acreage

The following table sets forth information as of December 31, 2011 relating to acreage held by the Company. Developed acreage is assigned to productive wells.


					Company’s Share of
	Consolidated				Equity-Method Investments
	Gross		Net		Gross		Net
	Acreage		Acreage		Acreage		Acreage
Developed		17,280		8,813		69,517		38,434
Undeveloped		—		—		5,560		4,574

Total		17,280		8,813		75,077		43,008

Drilling Activity

The following table shows the Company’s drilling activity for the years ended December 31, 2011 and 2010. The Company did not engage in any drilling activity related to its ownership of the Bullwinkle platform and its related assets during the year ended December 31, 2011. In the table, “gross” refers to the total wells in which the Company has a working interest and “net” refers to the gross wells multiplied by the Company’s working interest in these wells. Well activity refers to the number of wells completed during a fiscal year, regardless of when drilling first commenced.


	Company’s Share of Equity-Method Investments
	2011				2010
	Gross		Net		Gross		Net
Exploratory Wells
Productive		0.10		0.01		—		—
Non-productive		0.10		0.07		—		—

Total		0.20		0.08		—		—

Development Wells
Productive		0.20		0.03		0.25		0.15
Non-productive		0.10		0.02		—		—

Total		0.30		0.05		0.25		0.15

Results of Operations

The following table sets forth the Company’s results of operations for producing activities:


	Years Ended December 31,
	2011		2010
Consolidated Entities
Revenues
Sales	$	54,442	$	39,410

Production costs		12,293		9,511
Exploration expenses		—		359

Depreciation, depletion and amortization		11,928		10,057

		30,221		19,483
Income tax expenses		10,789		7,014


Results of operations from producing activities (excluding corporate overhead)	$	19,432	$	12,469


Company’s share of equity-method investments
Revenues
Sales	$	53,181	$	56,964

Production costs		22,034		23,375
Exploration expenses		—		105

Depreciation, depletion and amortization		18,449		18,557

		12,698		14,927
Income tax expenses		4,533		5,373


Results of operations from producing activities (excluding corporate overhead)	$	8,165	$	9,554

The Company’s consolidated oil and gas operations, as well as its share of equity-method investment are in the Gulf of Mexico. The Company’s consolidated entity’s average sales price was $108.79 per barrel of oil and $3.45 per mcf of gas in 2011 and $77.04 per barrel of oil and $5.00 per mcf of gas in 2010. Average production costs were $12.51 and $19.99 per barrel of oil equivalent in years ended December 31, 2011 and 2010, respectively. The Company’s share of its equity-method investment’s average sales price was $113.28 per barrel of oil and $4.40 per mcf of gas in 2011 and $79.21 per barrel of oil and $4.78 per mcf of gas in 2010. Average production costs were $26.30 and $25.35 per barrel of oil equivalent in 2011 and 2010, respectively.

Standardized Measure of Discounted Future Net Cash Flows Relating to Reserves

The following information has been developed utilizing procedures prescribed by authoritative guidance related to oil and gas activities. It may be useful for certain comparative purposes, but should not be solely relied upon in evaluating the Company or its performance. Further, information contained in the following table should not be considered as representative of realistic assessments of future cash flows, nor should the standardized measure of discounted future net cash flows be viewed as representative of the current value of the Company.

The Company believes that the following factors should be taken into account in reviewing this information: (1) future costs and selling prices will likely differ from those required to be used in these calculations; (2) due to future market conditions and governmental regulations, actual rates of production achieved in future years may vary significantly from the rate of production assumed in the calculations; (3) selection of a 10% discount rate is arbitrary and may not be reasonable as a measure of the relative risk inherent in realizing future net oil and gas revenues; and (4) future net revenues may be subject to different rates of income taxation.

Under the standardized measure, future cash inflows were estimated by applying period-end oil and natural gas prices adjusted for differentials. Future cash inflows were reduced by estimated future development, abandonment and production costs based on period-end costs in order to arrive at net cash flow before tax. Future income tax expense has been computed by applying period-end statutory tax rates to aggregate future net cash flows, reduced by the tax basis of the properties involved and tax carryforwards. Use of a 10% discount rate is required by authoritative guidance related to oil and gas activities.

The standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves at December 31, 2011 and 2010 is as follows (in thousands):


							Company’s Share of
	Consolidated						Equity-Method Investments
	2011			2010			2011			2010
Future cash inflows	$	701,170		$	486,199		$	414,246		$	356,126
Future production costs		(126,627	)		(43,392	)		(100,848	)		(83,215	)
Future development and abandonment costs		(58,388	)		(86,125	)		(67,760	)		(84,260	)
Future income tax expenses		(185,816	)		(129,262	)		(73,202	)		(66,161	)

Future net cash flows		330,339			227,420			172,436			122,490
10% annual discount for estimated timing of cash flows		92,590			57,928			39,704			20,014

Standardized measure of discounted future net cash flows	$	237,749		$	169,492		$	132,732		$	102,476

A summary of the changes in the standardized measure of discounted future net cash flows applicable to proved oil and natural gas reserves for the years ended December 31, 2011 and 2010 is as follows (in thousands):


	Consolidated						Company’s Share of Equity- Method Investment
	2011			2010			2011			2010
Beginning of the period	$	169,492		$	—		$	102,476		$	64,136
Net change in sales and transfer prices and in production (lifting) costs related to future production		62,881			102,726			27,944			57,626
Changes in estimated future development costs		8,297			2,950			(8,862	)		(9,051	)
Sales and transfers of oil and gas produced during the period		(54,057	)		(29,542	)		(44,268	)		(32,370	)
Net change due to extensions, discoveries, and improved recovery		—			—			—			2,781
Net changes due to purchases and sales of minerals in place		—			70,993			51,781			(1,912	)
Net changes due to revisions in quantity estimates		57,189			38,206			22,005			16,859
Previously estimated development costs incurred during the period		17,980			1,758			13,840			16,570
Exchange transaction		—			—			(23,356	)		—
Accretion of discount		26,625			16,484			11,179			8,780
Other-unspecified		(12,650	)		2,338			(2,065	)		1,496
Net change in income taxes		(38,008	)		(36,421	)		(17,942	)		(22,439	)

Aggregate change in the standardized measure of discounted future net cash flows for the year		68,257			169,492			30,256			38,340

End of the period	$	237,749		$	169,492		$	132,732		$	102,476

The December 31, 2011 amount was estimated by Netherland, Sewell & Associates, Inc. using a twelve month average WTI Cushing price of $96.19 per barrel (bbl), and a Henry Hub gas price of $4.118 per million British Thermal Units, and price differentials. The December 31, 2010 amount was estimated by DeGoyler and MacNaughton and Netherland, Sewell & Associates, Inc. using a twelve month average WTI Cushing price of $79.40 per barrel (bbl), and a Henry Hub gas price of $4.38 per million British Thermal Units, and price differentials.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2011

Summary of Significant Accounting Policies [Abstract]

Basis of Presentation

(a)

Basis of Presentation

Reclassifications

(b)

Reclassifications

Business

(c)

Business

Use of Estimates

(d)

Use of Estimates

Major Customers and Concentration of Credit Risk

(e)

Major Customers and Concentration of Credit Risk

Cash Equivalents

(f)

Cash Equivalents

The Company considers all short-term investments with a maturity of 90 days or less when purchased to be cash equivalents.

Accounts Receivable and Allowances

(g)

Accounts Receivable and Allowances

Inventory and Other Current Assets

(h)

Inventory and Other Current Assets

Property, Plant and Equipment

(i)

Property, Plant and Equipment


Buildings and improvements			3 to 40 years
Marine vessels and equipment			5 to 25 years
Machinery and equipment			2 to 20 years
Automobiles, trucks, tractors and trailers			3 to 5 years
Furniture and fixtures			2 to 10 years

Goodwill

(j)

Goodwill

The following table summarizes the activity for the Company’s goodwill for the years ended December 31, 2011 and 2010 (amounts in thousands):

Notes Receivable

(k)

Notes Receivable

Intangible and Other Long-Term Assets

(l)

Intangible and Other Long-Term Assets

Intangible and other long-term assets consist of the following at December 31, 2011 and 2010 (amounts in thousands):

Decommissioning Liabilities

(m)

Decommissioning Liabilities

The following table summarizes the activity for the Company’s decommissioning liabilities for the years ended December 31, 2011 and 2010 (amounts in thousands):

Revenue Recognition

(n)

Revenue Recognition

Taxes Collected from Customers

(o)

Taxes Collected from Customers

Income Taxes

(p)

Income Taxes

Earnings (Loss) per Share

(q)

Earnings (Loss) per Share

Discontinued Operation

(r)

Discontinued Operations

Fair Value Measurement

(s)

Fair Value Measurements

Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities;

Level 3: Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability.

Financial Instruments

(t)

Financial Instruments

Foreign Currency

(u)

Foreign Currency

Stock-Based Compensation

(v)

Stock-Based Compensation

Derivative Instruments and Hedging Activities

(w)

Derivative Instruments and Hedging Activities

Equity Method Investments

(x)

Equity –Method Investments

Self Insurance Reserves

(y)

Self Insurance Reserves

Subsequent Events

(z)

Subsequent Events

Recently Issued Accounting Pronouncements

(aa)

Recently Issued Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2011

Summary of Significant Accounting Policies [Abstract]

Estimated useful lives of the related assets


Buildings and improvements			3 to 40 years
Marine vessels and equipment			5 to 25 years
Machinery and equipment			2 to 20 years
Automobiles, trucks, tractors and trailers			3 to 5 years
Furniture and fixtures			2 to 10 years

Summary of activity of goodwill


	Subsea and Well Enhancement			Drilling Products and Services			Marine			Total
Balance, December 31, 2009	$	332,111		$	139,436		$	10,933		$	482,480
Acquisition activities		93,650			—			—			93,650
Disposition activities		—			—			(80	)		(80	)
Additional consideration paid for prior acquisitions		14,029			1,000			—			15,029
Foreign currency translation adjustment		(2,106	)		(973	)		—			(3,079	)

Balance, December 31, 2010	$	437,684		$	139,463		$	10,853		$	588,000

Acquisition activities		3,563			—			—			3,563
Disposition activities		—			—			(519	)		(519	)
Reduction in value of asset		—			—			(10,334	)		(10,334	)
Additional consideration paid for prior acquisitions		—			1,000			—			1,000
Foreign currency translation adjustment		(296	)		(35	)		—			(331	)

Balance, December 31, 2011	$	440,951		$	140,428		$	—		$	581,379

Composition of Intangible and other long-term assets


	December 31, 2011							December 31, 2010
	Gross Amount		Accumulated Amortization			Net Balance		Gross Amount		Accumulated Amortization			Net Balance
Customer relationships	$	23,707	$	(6,144	)	$	17,563	$	23,306	$	(4,317	)	$	18,989
Tradenames		18,005		(2,706	)		15,299		17,924		(1,622	)		16,302
Non-compete agreements		1,697		(1,126	)		571		1,320		(1,211	)		109
Debt issuance costs		41,449		(10,039	)		31,410		25,886		(14,412	)		11,474
Deferred compensation plan assets		10,598		—			10,598		10,820		—			10,820
Escrowed cash		50,196		—			50,196		33,013		—			33,013
Restricted cash and		785,280		—			785,280		—		—			—
cash equivalents
Long-term assets held as major replacement spares		13,806		—			13,806		19,999		—			19,999
Other		6,018		(605	)		5,413		3,780		(503	)		3,277

Total	$	950,756	$	(20,620	)	$	930,136	$	136,048	$	(22,065	)	$	113,983

Summary the activity for company's decommissioning liabilities


	2011			2010
Decommissioning liabilities, December 31, 2010 and 2009, respectively	$	117,716		$	—
Liabilities acquired and incurred		—			136,559
Liabilities settled		(504	)		(1,759	)
Accretion		6,752			7,018
Revision in estimated liabilities		(788	)		(24,102	)

Total decommissioning liabilities, December 31, 2011 and 2010, respectively		123,176			117,716
Less: current portion of decommissioning liabilities at December 31, 2011 and 2010, respectively		14,956			16,929

Long-term decommissioning liabilities, December 31, 2011 and 2010, respectively	$	108,220		$	100,787

- Definition

Tabular disclosure of goodwill by reportable segment and in total. Disclosure details may include, but are not limited to, the carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written-off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill.

+ References + Details

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2011

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information


	2011			2010			2009
Cash paid for interest, net of amounts capitalized	$	39,539		$	34,034		$	28,833

Cash paid for income taxes	$	22,320		$	25,435		$	16,434

Details of business acquisitions:
Fair value of assets	$	8,650		$	515,767		$	1,247
Fair value of liabilities		(6,902	)		(228,417	)		—

Cash paid		1,748			287,350			1,247
Less cash acquired		—			(11,273	)		—

Net cash paid for acquisitions	$	1,748		$	276,077		$	1,247

Details of proceeds from sale of businesses:
Book value of assets	$	13,791		$	4,236		$	5,632
Book value of liabilities		—			81			—
Receivable due from sale		—			(150	)		—
Gain on sale of business		8,558			1,083			2,084

Proceeds from sale of businesses	$	22,349		$	5,250		$	7,716

Non-cash investing activity:
Long term payable on vessel construction	$	—		$	—		$	5,000

Capital expenditures included in accounts payable	$	23,053		$	—		$	—

Additional consideration payable on acquisitions	$	—		$	—		$	484

Non-cash financing activity:
Share settlement for employee tax liability	$	—		$	3,093		$	—

		`

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2011

Acquisitions [Abstract]

Consideration paid and the provisional fair value of the assets acquired and liabilities


Assets:
Current assets	$	751,706
Property, plant and equipment		1,223,448
Goodwill		1,922,277
Intangible and other long-term assets		370,377

Liabilities:
Current liabilities		236,986
Deferred income taxes		435,904
Other long-term liabilities		4,125

Net assets acquired	$	3,590,793

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2011

Discontinued Operations [Abstract]

Components of income (loss) from discontinued operations


	2011			2010			2009
Revenues	$	105,834		$	118,573		$	128,659

Income (loss) from discontinued operations before income tax		(32,051	)		(7,558	)		26,724
Income tax expense (benefit)		(9,083	)		(2,505	)		9,825
Gain on disposition, net of tax of $2,425, $359 and $766 in 2011, 2010 and 2009, respectively.		6,133			724			1,318

Income (loss) from discontinued operations, net of tax	$	(16,835	)	$	(4,329	)	$	18,217

Assets and liabilities of disposal groups


	2011		2010
Accounts receivable, net	$	16,342	$	30,265
Prepaid expenses		1,900		1,403
Inventory and other current assets		2,371		11,521

Current assets of discontinued operations	$	20,613	$	43,189

Property, plant and equipment, net		170,222		229,600
Goodwill		9,740		20,595
Intangible and other long-term assets, net		3,875		7,784

Long-term assets of discontinued operations	$	183,837	$	257,979

Accounts payable	$	1,231	$	3,204
Accrued expenses		13,421		15,068
Current maturities of long-term debt		810		810

Current liabilities of discontinued operations	$	15,462	$	19,082

Long-term debt	$	11,736	$	12,546

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment [Abstract]

Summary of property, plant and equipment


	2011			2010
Buildings, improvements and leasehold improvements	$	139,432		$	127,725
Marine vessels and equipment		417,413			499,398
Machinery and equipment		1,596,580			1,248,318
Automobiles, trucks, tractors and trailers		38,770			31,934
Furniture and fixtures		40,575			35,124
Construction-in-progress		171,108			83,694
Land		29,518			24,223
Oil and gas producing assets		44,109			34,336

		2,477,505			2,084,752
Accumulated depreciation and depletion		(970,137	)		(771,602	)

Property, plant and equipment, net	$	1,507,368		$	1,313,150

Equity-Method Investments (Tables)

12 Months Ended

Dec. 31, 2011

Equity-Method Investments [Abstract]

Summary of financial information for all investments that are accounted for using the equity-method of accounting


	December 31,
	2011		2010
Current Assets	$	229,516	$	104,241
Noncurrent assets		1,305,514		487,136

Total assets	$	1,535,030	$	591,377

Current liabilities	$	202,465	$	49,587
Noncurrent liabilities		797,031		197,672

Total liabilities	$	999,496	$	247,259


	Years Ended December 31,
	2011		2010			2009
Revenues	$	468,140	$	204,935		$	245,092
Cost of sales		181,433		80,525			110,101

Gross profit	$	286,707	$	124,410		$	134,991

Income (loss) from continuing operations	$	95,581	$	(8,016	)	$	(10,024	)

Debt (Tables)

12 Months Ended

Dec. 31, 2011

Debt [Abstract]

Company's long-term debt


	2011			2010
Revolving credit facility—interest payable monthly at floating rate, due December 2014	$	75,000		$	175,000
U.S. Government guaranteed long-term financing—interest payable semiannually at 6.45%, due in semiannual installments through June 2027		12,546			13,356
Senior Notes—interest payable semiannually at 6 7/8%, due June 2014		300,000			300,000
Discount on 6 7/8% Senior Notes		(1,649	)		(2,248	)
Senior Notes—interest payable semiannually at 6 3/8%, due May 2019		500,000			—
Senior Notes—interest payable semiannually at 7 1/8%, due December 2021		800,000			—
Senior Exchangeable Notes—interest payable semiannually at 1.5% until December 2011 and 1.25% thereafter		—			400,000
Discount on 1.5% Senior Exchangeable Notes		—			(19,663	)

		1,685,897			866,445
Less current portion		810			184,810

Long-term debt	$	1,685,087		$	681,635

Annual maturities of long-term debt


2012		810
2013		810
2014		375,810
2015		810
2016		810
Thereafter		1,308,496

Total	$	1,687,546

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Stock-Based and Long-Term Compensation (Tables)

12 Months Ended

Dec. 31, 2011

Stock Based and Long-Term Compensation [Abstract]

Fair value of stock option grants


	Years Ended December 31,
	2011 Actual			2010 Actual			2009 Actual
Weighted average fair value of grants	$	13.54		$	10.56		$	8.95

Black-Scholes-Merton Assumptions:
Risk free interest rate		0.85	%		2.07	%		1.77	%
Expected life (years)		5			4			4
Volatility		56.31	%		49.28	%		53.57	%
Dividend yield		—			—			—

Summarization of stock option activity


	Number of Options			Weighted Average Option Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2008		3,267,910		$	15.37

Granted		309,352		$	20.01
Exercised		(38,717	)	$	9.71

Outstanding at December 31, 2009		3,538,545		$	15.84

Granted		1,549,058		$	25.04
Exercised		(87,150	)	$	10.62

Outstanding at December 31, 2010		5,000,453		$	18.78

Granted		207,183		$	28.97
Exercised		(876,435	)	$	11.71

Outstanding at December 31, 2011		4,331,201		$	20.70		6.0	$	36,885

Exercisable at December 31, 2011		3,647,745		$	19.62		5.4	$	34,783

Options expected to vest		683,456		$	26.46		8.9	$	2,102

Summary of information regarding stock options outstanding


	Options Outstanding						Options Exercisable
Range of Exercise Prices	Shares		Weighted Average Remaining Contractual Life		Weighted Average Price		Shares		Weighted Average Price
$7.31 - $8.79		61,665		1.3 years	$	8.78		61,665	$	8.78
$9.10 - $9.90		80,313		0.4 years	$	9.48		80,313	$	9.48
$10.36 - $10.90		770,268		2.6 years	$	10.66		770,268	$	10.66
$12.45 - $13.34		309,977		6.9 years	$	12.88		309,977	$	12.88
$17.46 - $23.00		1,502,669		6.3 years	$	19.92		1,236,572	$	19.55
$24.00 - $30.00		1,133,657		7.9 years	$	25.98		829,664	$	25.38
$34.40 - $37.64		464,239		6.8 years	$	35.37		350,873	$	35.57
$40.00 - $40.69		8,413		6.2 years	$	40.69		8,413	$	40.69

Summarizes non-vested stock option


	Number of Options			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2010		869,971		$	10.23
Granted		207,183		$	13.54
Vested		(393,698	)	$	9.61

Non-vested at December 31, 2011		683,456		$	11.59

Summary of restricted stock

<table cellspacing="0" cellpadding="0" width="76%" border="0" style="border-collapse:collapse; text-align: left" align="center">  <tr> <td width="74%"> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td> <td valign="bottom" width="6%"> </td> <td> </td> <td> </td> <td> </td> </tr> <tr> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000">Number of Shares</td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000">Weighted Average Grant Date Fair Value</td> <td valign="bottom"> </td> </tr>   <tr bgcolor="#cceeff"> <td valign="top"> Non-vested at December 31, 2010 </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">792,436</td> <td nowrap="nowrap" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">22.25</td> <td nowrap="nowrap" valign="bottom"> </td> </tr> <tr> <td valign="top"> Granted </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">567,083</td> <td nowrap="nowrap" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">28.84</td> <td nowrap="nowrap" valign="bottom"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> Vested </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(294,144</td> <td nowrap="nowrap" valign="bottom">) </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">19.80</td> <td nowrap="nowrap" valign="bottom"> </td> </tr> <tr> <td valign="top"> Forfeited </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">(25,658</td> <td nowrap="nowrap" valign="bottom">) </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">22.49</td> <td nowrap="nowrap" valign="bottom"> </td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> </tr> <tr bgcolor="#cceeff"> <td valign="top"> Non-vested at December 31, 2011 </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,039,717</td> <td nowrap="nowrap" valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">27.07</td> <td nowrap="nowrap" valign="bottom"> </td> </tr> <tr style="font-size:1px"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td> </td> </tr>  </table>

Summary of the activity of restricted stock units


	Number of Restricted Stock Units		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2010		136,173	$	27.02
Granted		34,284	$	35.10

Outstanding at December 31, 2011		170,457	$	28.64

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Components of income and loss from continuing operations before income taxes

		00000000		00000000		00000000
	2011		2010		2009
Domestic	$	244,401	$	124,463	$	(220,351	)
Foreign		792		7,114		31,664

	$	245,193	$	131,577	$	(188,687	)

Components of income tax expense (benefit)

		00000000			00000000			00000000
	2011			2010			2009
Current:
Federal	$	14,227		$	15,791		$	585
State		785			1,874			(570	)
Foreign		19,716			17,628			16,019

		34,728			35,293			16,034

Deferred:
Federal		51,828			13,897			(81,597	)
State		1,121			(761	)		(1,415	)
Foreign		(1,873	)		(2,998	)		(1,169	)

		51,076			10,138			(84,181	)

	$	85,804		$	45,431		$	(68,147	)

Income tax expense (benefit) differs from the amounts computed by applying the U.S. Federal income tax rate of 35% to income (loss) before income taxes


	2011			2010			2009
Computed expected tax expense (benefit)	$	85,818		$	46,052		$	(66,040	)
Increase (decrease) resulting from State and foreign income taxes		(2,106	)		1,839			(4,026	)
Other		2,092			(2,460	)		1,919

Income tax	$	85,804		$	45,431		$	(68,147	)

Components of deferred income taxes


	2011		2010
Deferred tax assets:
Allowance for doubtful accounts	$	9,054	$	7,097
Operating loss and tax credit carryforwards		24,101		10,120
Compensation and employee benefits		28,305		29,358
Decommissioning liabilities		39,638		37,909
Deferred interest expense related to exchangeable notes		—		526
Other		35,005		21,626


Net deferred tax assets		136,103		106,636

Deferred tax liabilities:
Property, plant and equipment		317,033		248,453
Notes receivable		25,599		23,857
Goodwill and other intangible assets		22,432		19,555
Deferred revenue on long-term contracts		47,341		53,465
Other		21,987		14,595


Deferred tax liabilities		434,392		359,925


Net deferred tax liability	$	298,289	$	253,289

Net deferred tax liabilities classified in the consolidated balance sheet


	2011		2010
Deferred tax liabilities:
Current deferred income taxes	$	831	$	29,353
Noncurrent deferred income taxes		297,458		223,936


Net deferred tax liability	$	298,289	$	253,289

Activity in unrecognized tax benefits


	2011			2010			2009
Unrecognized tax benefits,
December 31, 2010, 2009 and 2008, respectively	$	24,760		$	11,013		$	9,652
Additions based on tax positions related to current year		—			36			3,377
Additions based on tax positions related to prior years		871			16,607			186
Reductions based on tax positions related to prior years		(3,939	)		(2,896	)		(2,202	)


Unrecognized tax benefits,
December 31, 2011, 2010 and 2009, respectively	$	21,692		$	24,760		$	11,013

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References + Details

Segment Information (Tables)

12 Months Ended

Dec. 31, 2011

Segment Information [Abstract]

Summary of financial information for the Company's segments


2011	Subsea and Well Enhancement		Drilling Products and Services		Unallocated			Consolidated Total
Revenues	$	1,353,231	$	611,101	$	—		$	1,964,332
Cost of services, rentals, and sales		825,762		220,647		—			1,046,409
(exclusive of items shown separately below)
Depreciation, depletion, amortization and accretion		114,106		130,809		—			244,915
General and administrative		254,418		122,201		—			376,619
Income (loss) from operations		158,945		137,444		—			296,389
Interest expense, net		—		—		(72,994	)		(72,994	)
Interest income		4,542		—		1,684			6,226
Other income		105		—		(927	)		(822	)
Earnings from equity-method investments		—		—		16,394			16,394

Income (loss) from continuing operations before income taxes	$	163,592	$	137,444	$	(55,843	)	$	245,193


2010	Subsea and Well Enhancement		Drilling Products and Services		Unallocated			Consolidated Total
Revenues	$	1,088,336	$	474,707	$	—		$	1,563,043
Cost of services, rentals, and sales		672,029		176,463		—			848,492
(exclusive of items shown separately below)
Depreciation, depletion, amortization and accretion		93,364		114,733		—			208,097
General and administrative		223,757		108,845		—			332,602
Income (loss) from operations		99,186		74,666		—			173,852
Interest expense, net		—		—		(56,480	)		(56,480	)
Interest income		4,548		—		587			5,135
Other income		—		—		825			825
Earnings from equity-method investments		—		—		8,245			8,245

Income (loss) from continuing operations before income taxes	$	103,734	$	74,666	$	(46,823	)	$	131,577

		$xxx,xxxx,xx			$xxx,xxxx,xx		$xxx,xxxx,xx			$xxx,xxxx,xx
2009	Subsea and Well Enhancement			Drilling Products and Services		Unallocated			Consolidated Total
Revenues	$	893,765		$	426,876	$	—		$	1,320,641
Cost of services, rentals, and sales (exclusive of items shown separately below)		607,720			143,810		—			751,530
Depreciation and amortization		88,364			105,628		—			193,992
General and administrative		152,097			91,891		—			243,988
Reduction in value of assets		212,527			—		—			212,527
Income (loss) from operations		(166,943	)		85,547		—			(81,396	)
Interest expense, net		—			—		(49,702	)		(49,702	)
Interest income		—			—		926			926
Other income		—			—		571			571
Losses from equity-method investments		—			—		(22,600	)		(22,600	)
Reduction in the value of equity-method investment		—			—		(36,486	)		(36,486	)

Income (loss) from continuing operations before income taxes	$	(166,943	)	$	85,547	$	(107,291	)	$	(188,687	)


	Subsea and Well Enhancement		Drilling Products and Services		Marine		Unallocated		Consolidated Total
December 31, 2011	$	2,863,550	$	947,679	$	164,444	$	72,472	$	4,048,145
December 31, 2010	$	1,769,813	$	802,785	$	255,883	$	79,052	$	2,907,533
December 31, 2009	$	1,377,122	$	759,418	$	299,834	$	80,291	$	2,516,665

		$xxx,xxxx,xx		$xxx,xxxx,xx		$xxx,xxxx,xx		$xxx,xxxx,xx
	Subsea and Well Enhancement		Drilling Products and Services		Marine		Consolidated Total
December 31, 2011	$	286,066	$	219,121	$	2,514	$	507,701
December 31, 2010	$	150,313	$	142,942	$	29,989	$	323,244
December 31, 2009	$	99,551	$	124,845	$	66,881	$	291,277

Company's information by geographic area


	Revenues						Long-Lived Assets
	Years Ended December 31,						December 31,
	2011		2010		2009		2011		2010
United States	$	1,438,138	$	1,134,938	$	1,030,149	$	1,060,483	$	881,416
Other Countries		526,194		428,105		290,492		446,885		431,734

Total	$	1,964,332	$	1,563,043	$	1,320,641	$	1,507,368	$	1,313,150

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2011

Fair Value Measurements [Abstract]

Summary of financial assets and liabilities measured at fair value on recurring basis

		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx
			Fair Value Measurements at Reporting Date Using
	December 31, 2011		Level 1		Level 2		Level 3
Intangible and other long-term assets
Non-qualified deferred compensation assets	$	10,597	$	815	$	9,782		—
Interest rate swap	$	1,904		—	$	1,904		—

Accounts payable
Non-qualified deferred compensation liabilities	$	2,790		—	$	2,790		—

Other long-term liabilities
Non-qualified deferred compensation liabilities	$	12,975		—	$	12,975		—

		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx
	December 31, 2010		Level 1		Level 2		Level 3
Intangible and other long-term assets
Non-qualified deferred compensation assets	$	10,820	$	812	$	10,008		—
Interest rate swap	$	161		—	$	161		—

Accounts payable
Non-qualified deferred compensation liabilities	$	2,953	$	1,429	$	1,524		—

Other long-term liabilities
Non-qualified deferred compensation liabilities	$	14,236		—	$	14,236		—

Fair value measurements used in testing the impairment of long-lived assets

		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx
	Fair Value Measurements at Reporting Date Using
	December 31, 2011		(Level 1)		(Level 2)		(Level 3)		Total Losses
Property, plant and equipment, net	$	134,000		—		—	$	134,000	$	(35,762	)
Goodwill	$	-0-					$	-0-	$	(10,334	)

		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx
	December 31, 2010		(Level 1)		(Level 2)		(Level 3)		Total Losses
Property, plant and equipment, net	$	-0-		—		—	$	-0-	$	(32,004	)

		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx		$xxx,xxx,xxx
	December 31, 2009		(Level 1)		(Level 2)		(Level 3)		Total Losses
Property, plant and equipment, net	$	107,591		—		—	$	107,591	$	(119,844	)
Intangible and other long-term assets, net	$	-0-		—		—	$	-0-	$	(92,683	)
Equity-method investments	$	-0-		—		—	$	-0-	$	(36,486	)

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Derivative Financial Instruments [Abstract]

Location and effect of the derivative instrument on the statements of operations

	$xxx,xxx,xxx		$xxx,xxx,xxx			$xxx,xxx,xxx
	Location of (gain) loss recognized	Amount of (gain) loss recognized in the year ending December 31,
	Location of (gain) loss recognized	2011			2010
Interest rate swap	Interest expense, net	$	793		$	(1,742	)
Hedged item - debt	Interest expense, net		(2,536	)		1,581

		$	(1,743	)	$	(161	)

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

Financial Information of Guarantor Subsidiaries (Tables)

12 Months Ended

Dec. 31, 2011

Financial Information Related To Guarantor Subsidiaries [Abstract]

Financial Information Related to Subsidiaries

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidating Balance Sheets

December 31, 2011

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	29,057		$	6,272		$	44,945		$	—		$	80,274
Accounts receivable, net		—			531			437,963			143,444			(41,336	)		540,602
Income taxes receivable		—			—			—			698			(698	)		—
Prepaid expenses		34			3,893			9,796			20,314			—			34,037
Inventory and other current assets		—			1,796			214,381			12,132			—			228,309

Total current assets		34			35,277			668,412			221,533			(42,034	)		883,222

Property, plant and equipment, net		—			2,758			1,096,036			408,574			—			1,507,368
Goodwill		—			—			437,614			143,765			—			581,379
Notes receivable		—			—			73,568			—			—			73,568
Investments in subsidiaries		1,650,049			2,833,659			20,062			—			(4,503,770	)		—
Equity-method investments		—			70,614			—			1,858			—			72,472
Intangible and other long-term assets, net		—			828,447			71,625			30,064			—			930,136

Total assets	$	1,650,083		$	3,770,755		$	2,367,317		$	805,794		$	(4,545,804	)	$	4,048,145


LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	—		$	4,307		$	128,996		$	86,723		$	(41,381	)	$	178,645
Accrued expenses		164			54,000			105,512			38,503			(605	)		197,574
Income taxes payable		1,415			—			—			—			(698	)		717
Deferred income taxes		831			—			—			—			—			831
Current portion of decommissioning liabilities		—			—			14,956			—			—			14,956
Current maturities of long-term debt		—			—			—			810			—			810

Total current liabilities		2,410			58,307			249,464			126,036			(42,684	)		393,533

Deferred income taxes		285,871			—			—			11,587			—			297,458
Decommissioning liabilities		—			—			108,220			—			—			108,220
Long-term debt, net		—			1,673,351			—			11,736			—			1,685,087
Intercompany payables/(receivables)		(96,989	)		356,668			(253,053	)		(7,276	)		650			—
Other long-term liabilities		5,192			32,380			26,704			45,972			—			110,248

Stockholders’ equity:
Preferred stock of $.01 par value		—			—			—			—			—			—
Common stock of $.001 par value		80			—			—			4,212			(4,212	)		80
Additional paid in capital		447,007			124,271			—			517,209			(641,480	)		447,007
Accumulated other comprehensive loss, net		(26,936	)		(26,936	)		—			(26,936	)		53,872			(26,936	)
Retained earnings (accumulated deficit)		1,033,448			1,552,714			2,235,982			123,254			(3,911,950	)		1,033,448

Total stockholders’ equity (deficit)		1,453,599			1,650,049			2,235,982			617,739			(4,503,770	)		1,453,599

Total liabilities and stockholders’ equity	$	1,650,083		$	3,770,755		$	2,367,317		$	805,794		$	(4,545,804	)	$	4,048,145

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidating Balance Sheets

December 31, 2010

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	—		$	5,493		$	45,234		$	—		$	50,727
Accounts receivable, net		—			415			382,935			99,010			(29,910	)		452,450
Income taxes receivable		—			—			—			2,024			(2,024	)		—
Prepaid expenses		18			4,128			8,948			12,734			—			25,828
Inventory and other current assets		—			1,678			222,822			10,547			—			235,047
Intercompany interest receivable		—			15,883			—			—			(15,883	)		—

Total current assets		18			22,104			620,198			169,549			(47,817	)		764,052

Property, plant and equipment, net		—			3,189			957,561			352,400			—			1,313,150
Goodwill		—			—			447,467			140,533			—			588,000
Notes receivable		—			—			69,026			—			—			69,026
Intercompany notes receivable		—			456,280			—			—			(456,280	)		—
Investments in subsidiaries		1,433,087			2,058,552			21,788			4,347			(3,517,774	)		—
Equity-method investments		—			43,947			—			15,375			—			59,322
Intangible and other long-term assets, net		—			22,455			61,722			29,806			—			113,983

Total assets	$	1,433,105		$	2,606,527		$	2,177,762		$	712,010		$	(4,021,871	)	$	2,907,533

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	—		$	6,654		$	71,790		$	64,636		$	(32,804	)	$	110,276
Accrued expenses		153			42,821			91,451			27,619			—			162,044
Income taxes payable		4,499			—			—			—			(2,024	)		2,475
Deferred income taxes		29,353			—			—			—			—			29,353
Current portion of decommissioning liabilities		—			—			16,929			—			—			16,929
Current maturities of long-term debt		—			184,000			—			810			—			184,810
Intercompany interest payable		—			—			—			15,883			(15,883	)		—

Total current liabilities		34,005			233,475			180,170			108,948			(50,711	)		505,887

Deferred income taxes		211,173			—			—			12,763			—			223,936
Decommissioning liabilities		—			—			100,787			—			—			100,787
Long-term debt, net		—			669,089			—			12,546			—			681,635
Intercompany notes payable		—			—			—			456,280			(456,280	)		—
Intercompany payables/(receivables)		(100,884	)		233,339			(1,410	)		(125,246	)		(5,799	)		—
Other long-term liabilities		8,260			37,537			19,427			49,513			—			114,737

Stockholders’ equity:
Preferred stock of $.01 par value		—			—			4,347			4,347			(8,694	)		—
Common stock of $.001 par value		79			—			—			176			(176	)		79
Additional paid in capital		415,278			124,271			—			66,762			(191,033	)		415,278
Accumulated other comprehensive loss, net		(25,700	)		(25,700	)		—			(25,700	)		51,400			(25,700	)
Retained earnings (accumulated deficit)		890,894			1,334,516			1,874,441			151,621			(3,360,578	)		890,894

Total stockholders’ equity (deficit)		1,280,551			1,433,087			1,878,788			197,206			(3,509,081	)		1,280,551

Total liabilities and stockholders’ equity	$	1,433,105		$	2,606,527		$	2,177,762		$	712,010		$	(4,021,871	)	$	2,907,533

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidating Statements of Operations

Year Ended December 31, 2011

(in thousands)

		$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx
	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	—		$	1,624,945		$	406,843		$	(67,456	)	$	1,964,332
Cost of services (exclusive of items shown separately below)		—			—			817,551			295,998			(67,140	)		1,046,409
Depreciation, depletion, amortization and accretion		—			523			200,614			43,778			—			244,915
General and administrative expenses		683			79,672			230,972			65,608			(316	)		376,619

Income (loss) from operations		(683	)		(80,195	)		375,808			1,459			—			296,389

Other income (expense):
Interest expense, net		—			(72,414	)		(43	)		(537	)		—			(72,994	)
Interest income		—			1,097			4,536			593			—			6,226
Intercompany interest income (expense)		—			26,673			—			(26,673	)		—			—
Other income (expense)		—			(1,005	)		183			—			—			(822	)
Earnings (losses) from consolidated subsidiaries		218,198			330,553			2,621			—			(551,372	)		—
Earnings (losses) from equity-method investments, net		—			15,180			—			1,214			—			16,394

Income (loss) from continuing operations before income taxes		217,515			219,889			383,105			(23,944	)		(551,372	)		245,193
Income taxes		81,533			—			—			4,271			—			85,804

Net income (loss) from continuing operations		135,982			219,889			383,105			(28,215	)		(551,372	)		159,389
Discontinued operations, net of income tax		6,572			(1,691	)		(21,564	)		(152	)		—			(16,835	)

Net income (loss)	$	142,554		$	218,198		$	361,541		$	(28,367	)	$	(551,372	)	$	142,554

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income (Loss)

Year Ended December 31, 2011

(in thousands)

		$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx		$xxx,xxx,xxx			$xxx,xxx,xxx			$xxx,xxx,xxx
	Parent			Issuer			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	142,554		$	218,198		$	361,541	$	(28,367	)	$	(551,372	)	$	142,554
Change in cumulative translation adjustment		(1,236	)		(1,236	)		—		(1,236	)		2,472			(1,236	)

Comprehensive income (loss)	$	141,318		$	216,962		$	361,541	$	(29,603	)	$	(548,900	)	$	141,318

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidating Statements of Operations

Year Ended December 31, 2010

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	—		$	1,295,946		$	337,526		$	(70,429	)	$	1,563,043
Cost of services (exclusive of items shown separately below)		—			—			687,519			231,082			(70,109	)		848,492
Depreciation, depletion, amortization and accretion		—			515			169,528			38,054			—			208,097
General and administrative expenses		322			98,220			181,234			53,146			(320	)		332,602

Income (loss) from operations		(322	)		(98,735	)		257,665			15,244			—			173,852

Other income (expense):
Interest expense, net		—			(53,716	)		(216	)		(2,548	)		—			(56,480	)
Interest income					150			4,459			526			—			5,135
Intercompany interest income (expense)		—			15,883			—			(15,883	)		—			—
Other income (expense)					825			—			—			—			825
Earnings (losses) from consolidated subsidiaries		119,801			255,257			3,555			—			(378,613	)		—
Earnings (losses) from equity-method investments, net		—			985			—			7,260			—			8,245

Income (loss) from continuing operations before income taxes		119,479			120,649			265,463			4,599			(378,613	)		131,577
Income taxes		39,722			—			—			5,709			—			45,431

Net income (loss) from continuing operations		79,757			120,649			265,463			(1,110	)		(378,613	)		86,146
Discontinued operations, net of income tax		2,060			(848	)		(5,387	)		(154	)		—			(4,329	)

Net income (loss)	$	81,817		$	119,801		$	260,076		$	(1,264	)	$	(378,613	)	$	81,817

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income (Loss)

Year Ended December 31, 2010

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	81,817		$	119,801		$	260,076	$	(1,264	)	$	(378,613	)	$	81,817
Change in cumulative translation adjustment		(6,704	)		(6,704	)		—		(6,704	)		13,408			(6,704	)

Comprehensive income (loss)	$	75,113		$	113,097		$	260,076	$	(7,968	)	$	(365,205	)	$	75,113

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidating Statements of Operations

Year Ended December 31, 2009

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	—		$	1,178,883		$	185,048		$	(43,290	)	$	1,320,641
Cost of services (exclusive of items shown separately below)		—			—			688,766			106,054			(43,290	)		751,530
Depreciation and amortization		—			476			171,902			21,614			—			193,992
General and administrative expenses		(184	)		60,013			154,376			29,783			—			243,988
Reduction in value of assets		—			—			212,527			—			—			212,527

Income (loss) from operations		184			(60,489	)		(48,688	)		27,597			—			(81,396	)

Other income (expense):
Interest expense, net		—			(48,707	)		—			(995	)		—			(49,702	)
Interest income					87			670			169			—			926
Other income (expense)					571			—			—			—			571
Earnings (losses) from consolidated subsidiaries		(168,312	)		(448	)		2,911			—			165,849			—
Earnings (losses) from equity-method investments, net		—			(21,631	)		—			(969	)		—			(22,600	)
Reduction in value of equity-method investments		—			(36,486	)		—			—			—			(36,486	)

Income (loss) from continuing operations before income taxes		(168,128	)		(167,103	)		(45,107	)		25,802			165,849			(188,687	)
Income taxes		(76,443	)		—			—			8,296			—			(68,147	)

Net income (loss) from continuing operations		(91,685	)		(167,103	)		(45,107	)		17,506			165,849			(120,540	)
Discontinued operations, net of income tax		(10,638	)		(1,209	)		30,147			(83	)		—			18,217

Net income (loss)	$	(102,323	)	$	(168,312	)	$	(14,960	)	$	17,423		$	165,849		$	(102,323	)

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income (Loss)

Year Ended December 31, 2009

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations			Consolidated
Net income (loss)	$	(102,323	)	$	(168,312	)	$	(14,960	)	$	17,423	$	165,849		$	(102,323	)
Disposition of hedging positions of equity-method investments, net of tax		—			(3,881	)		—			—		—			(3,881	)
Change in cumulative translation adjustment		17,526			17,526			—			17,526		(35,052	)		17,526

Comprehensive income (loss)	$	(84,797	)	$	(154,667	)	$	(14,960	)	$	34,949	$	130,797		$	(88,678	)

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Condensed Consolidating Statements of Cash Flows

Year Ended December 31, 2011

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net income (loss)	$	142,554		$	218,198		$	361,541		$	(28,367	)	$	(551,372	)	$	142,554
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion		—			523			211,988			44,802			—			257,313
Deferred income taxes		49,946			—			—			(1,873	)		—			48,073
Excess tax benefit from stock-based compensation		(9,004	)		—			—			—			—			(9,004	)
Reduction in value of assets		—			—			46,096			—			—			46,096
Stock-based and performance share unit compensation expense		—			14,032			—			—			—			14,032
Retirement and deferred compensation plans expense		—			1,990			—			—			—			1,990
(Earnings) losses from consolidated subsidiaries		(218,198	)		(330,553	)		(2,621	)		—			551,372			—
(Earnings) losses from equity-method investments, net of cash received		—			(12,001	)		—			(1,151	)		—			(13,152	)
Amortization of debt acquisition costs and note discount		—			25,154			—			24			—			25,178
Gain on sale of businesses		—			—			(8,558	)		—			—			(8,558	)
Other reconciling items, net		—			(1,884	)		(4,542	)		—			—			(6,426	)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable		—			(117	)		(51,133	)		(35,564	)		—			(86,814	)
Inventory and other current assets		—			(117	)		5,348			(3,049	)		—			2,182
Accounts payable		—			(2,348	)		26,499			16,138			—			40,289
Accrued expenses		12			7,983			11,801			5,165			—			24,961
Decommissioning liabilities		—			—			(504	)		—			—			(504	)
Income taxes		(917	)		—			—			(461	)		—			(1,378	)
Other, net		(16	)		(1,024	)		18,646			(1,634	)		—			15,972

Net cash provided by (used in) operating activities		(35,623	)		(80,164	)		614,561			(5,970	)		—			492,804
Cash flows from investing activities:
Payments for capital expenditures		—			(93	)		(383,785	)		(100,770	)		—			(484,648	)
Change in restricted cash held for acquisition of a business		—			(785,280	)		—			—			—			(785,280	)
Purchase of short-term investments		—			(223,491	)		—			—			—			(223,491	)
Proceeds from sale of short-term investments		—			223,630			—			—			—			223,630
Acquisitions of businesses, net of cash acquired		—			—			(1,200	)		(548	)		—			(1,748	)
Proceeds from sale of businesses		—			—			22,349			—			—			22,349
Other		—			—			(721	)		—			—			(721	)
Intercompany receivables/payables		14,485			125,015			(250,425	)		110,925			—			—

Net cash provided by (used in) investing activities		14,485			(660,219	)		(613,782	)		9,607			—			(1,249,909	)
Cash flows from financing activities:
Net (payments) borrowings from revolving line of credit		—			(100,000	)		—			—			—			(100,000	)
Proceeds from issuance of long-term debt		—			1,300,000			—			—			—			1,300,000
Principal payments on long-term debt		—			(400,000	)		—			(810	)		—			(400,810	)
Payment of debt issuance costs		—			(24,428	)		—			—			—			(24,428	)
Proceeds from exercise of stock options		10,263			—			—			—			—			10,263
Excess tax benefit from stock-based compensation		9,004			—			—			—			—			9,004
Proceeds from issuance of stock through employee benefit plans		2,206			—			—			—			—			2,206
Other		(335	)		(6,132	)		—			(3,195	)		—			(9,662	)

Net cash provided by (used in) financing activities		21,138			769,440			—			(4,005	)		—			786,573
Effect of exchange rate changes on cash		—			—			—			79			—			79


Net increase (decrease) in cash and cash equivalents		—			29,057			779			(289	)		—			29,547
Cash and cash equivalents at beginning of period		—			—			5,493			45,234			—			50,727

Cash and cash equivalents at end of period	$	—		$	29,057		$	6,272		$	44,945		$	—		$	80,274

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Condensed Consolidating Statements of Cash Flows

Year Ended December 31, 2010

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net income (loss)	$	81,817		$	119,801		$	260,076		$	(1,264	)	$	(378,613	)	$	81,817
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion		—			515			181,216			39,104			—			220,835
Deferred income taxes		10,650			—			—			(2,374	)		—			8,276
Excess tax benefit from stock-based compensation		(560	)														(560	)
Reduction in value of assets		—			—			32,004			—			—			32,004
Stock-based and performance share unit compensation expense		—			27,207			—			—			—			27,207
Retirement and deferred compensation plans expense		—			4,825			—			—			—			4,825
(Earnings) losses from consolidated subsidiaries		(119,801	)		(255,257	)		(3,555	)		—			378,613			—
(Earnings) losses from equity-method investments, net of cash received		—			9,005			—			(6,100	)		—			2,905
Amortization of debt acquisition costs and note discount		—			23,954			—			—			—			23,954
Gain on sale of business		—			—			(1,083	)		—			—			(1,083	)
Other reconciling items, net		—			(161	)		(4,547	)		—			—			(4,708	)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable		—			275			(76,669	)		(13,406	)		—			(89,800	)
Inventory and other current assets		—			163			89,302			(3,778	)		—			85,687
Accounts payable		—			2,001			18,928			(626	)		—			20,303
Accrued expenses		38			5,800			1,735			7,181			—			14,754
Decommissioning liabilities		—			—			(1,759	)		—			—			(1,759	)
Income taxes		13,536			—			—			(3,026	)		—			10,510
Other, net		(1,417	)		(3,143	)		21,280			4,086			—			20,806

Net cash provided by (used in) operating activities		(15,737	)		(65,015	)		516,928			19,797			—			455,973
Cash flows from investing activities:
Payments for capital expenditures		—			—			(218,726	)		(104,518	)		—			(323,244	)
Acquisitions of businesses, net of cash acquired		—			—			(56,560	)		(219,517	)		—			(276,077	)
Proceeds from sale of business		—			—			5,250			—			—			5,250
Other		—			2,387			(11,537	)		(252	)		—			(9,402	)
Intercompany receivables/payables		12,359			(102,093	)		(234,733	)		324,467			—			—

Net cash provided by (used in) investing activities		12,359			(99,706	)		(516,306	)		180			—			(603,473	)
Cash flows from financing activities:
Net (payments) borrowings from revolving line of credit		—			(2,000	)		—			—			—			(2,000	)
Principal payments on long-term debt		—			—			—			(810	)		—			(810	)
Payment of debt issuance costs		—			(5,182	)		—			—			—			(5,182	)
Proceeds from exercise of stock options		927			—			—			—			—			927
Excess tax benefit from stock-based compensation		560			—			—			—			—			560
Proceeds from issuance of stock through employee benefit plans		1,891			—			—			—			—			1,891
Other		—			—			—			(3,443	)		—			(3,443	)

Net cash provided by (used in) financing activities		3,378			(7,182	)		—			(4,253	)		—			(8,057	)

Effect of exchange rate changes on cash		—			—			—			(221	)		—			(221	)

Net increase (decrease) in cash and cash equivalents		—			(171,903	)		622			15,503			—			(155,778	)
Cash and cash equivalents at beginning of period		—			171,903			4,871			29,731			—			206,505

Cash and cash equivalents at end of period	$	—		$	—		$	5,493		$	45,234		$	—		$	50,727

SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES

Condensed Consolidating Statements of Cash Flows

Year Ended December 31, 2009

(in thousands)


	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net income (loss)	$	(102,323	)	$	(168,312	)	$	(14,960	)	$	17,423		$	165,849		$	(102,323	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		—			476			184,084			22,554			—			207,114
Deferred income taxes		(73,127	)		—			—			(1,577	)		—			(74,704	)
Excess tax benefit from stock-based compensation		(170	)		—			—			—			—			(170	)
Reduction in value of assets		—			—			212,527			—			—			212,527
Reduction in value of equity-method investments		—			36,486			—			—			—			36,486
Stock-based and performance share unit compensation expense		—			11,785			—			—			—			11,785
Retirement and deferred compensation plans expense		—			1,550			—			—			—			1,550
(Earnings) losses from consolidated subsidiaries		168,312			448			(2,911	)		—			(165,849	)		—
(Earnings) losses from equity-method investments, net of cash received		—			27,637			—			969			—			28,606
Amortization of debt acquisition costs and note discount		—			21,744			—			—			—			21,744
Gain on sale of businesses		—			—			(2,084	)		—			—			(2,084	)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable		—			(156	)		19,940			5,825			—			25,609
Inventory and other current assets		—			(211	)		(48,786	)		(2,323	)		—			(51,320	)
Accounts payable		—			609			(27,786	)		2,540			—			(24,637	)
Accrued expenses		(469	)		(13,381	)		(27,381	)		(33	)		—			(41,264	)
Income taxes		4,270			—			—			(6,571	)		—			(2,301	)
Other, net		1,970			6,925			17,493			3,097			—			29,485

Net cash provided by (used in) operating activities		(1,537	)		(74,400	)		310,136			41,904			—			276,103
Cash flows from investing activities:
Payments for capital expenditures		—			—			(240,907	)		(45,370	)		—			(286,277	)
Acquisitions of businesses, net of cash acquired		—			—			(1,247	)		—			—			(1,247	)
Proceeds from sale of businesses		—			—			7,716			—			—			7,716
Cash contributed to equity-method investment		—			—			—			(8,694	)		—			(8,694	)
Other		—			(3,769	)		—			—			—			(3,769	)
Intercompany receivables/payables		(966	)		64,509			(76,684	)		13,141			—			—

Net cash provided by (used in) investing activities		(966	)		60,740			(311,122	)		(40,923	)		—			(292,271	)
Cash flows from financing activities:
Net (payments) borrowings from revolving line of credit		—			177,000			—			—			—			177,000
Principal payments on long-term debt		—			—			—			(810	)		—			(810	)
Payment of debt issuance costs		—			(2,308	)		—			—			—			(2,308	)
Proceeds from exercise of stock options		375			—			—			—			—			375
Excess tax benefit from stock-based compensation		170			—			—			—			—			170
Proceeds from issuance of stock through employee benefit plans		1,958			—			—			—			—			1,958

Net cash provided by (used in) financing activities		2,503			174,692			—			(810	)		—			176,385
Effect of exchange rate changes on cash		—			—			—			1,435			—			1,435

Net increase (decrease) in cash and cash equivalents		—			161,032			(986	)		1,606			—			161,652
Cash and cash equivalents at beginning of period		—			10,871			5,857			28,125			—			44,853

Cash and cash equivalents at end of period	$	—		$	171,903		$	4,871		$	29,731		$	—		$	206,505

Interim Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2011

Interim Financial Information (Unaudited) [Abstract]

Consolidated interim financial information


	Three Months Ended
	March 31		June 30		Sept. 30		Dec. 31
2011
Revenues	$	384,997	$	479,893	$	537,042	$	562,400
Less:
Cost of services, rentals and sales		217,022		250,667		285,124		293,596
Depreciation, depletion, amortization and accretion		55,824		60,020		61,807		67,264

Gross profit		112,151		169,206		190,111		201,540
Net income from continuing operations		9,877		41,375		54,799		53,338
Earnings per share from continuing operations:
Basic	$	0.12	$	0.52	$	0.69	$	0.67
Diluted		0.12		0.51		0.67		0.67


	Three Months Ended
	March 31		June 30		Sept. 30		Dec. 31
2010
Revenues	$	338,744	$	400,411	$	402,392	$	421,496
Less:
Cost of services, rentals and sales		180,565		211,214		216,564		240,149
Depreciation, depletion, amortization and accretion		48,178		51,238		53,524		55,157

Gross profit		110,001		137,959		132,304		126,190
Net income from continuing operations		20,374		23,949		25,809		16,014
Earnings per share from continuing operations:
Basic	$	0.26	$	0.30	$	0.33	$	0.20
Diluted		0.26		0.30		0.32		0.20

Supplementary Oil and Natural Gas Disclosures (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2011

Supplementary Oil and Natural Gas Disclosures [Abstract]

Company's net proved reserves, including the changes therein, and proved developed reserves


	Consolidated						Company’s Share of Equity-Method Investments
	Crude Oil			Natural Gas			Crude Oil			Natural Gas
	(Mbbls)			(Mmcf)			(Mbbls)			(Mmcf)
Proved-developed and undeveloped reserves:
December 31, 2009		—			—			3,242			23,255
Purchase of reserves in place		5,686			4,377			34			8
Revisions		723			1,572			564			692
Extensions, discoveries and other additions		—			—			—			413
Change in ownership percentage		—			—			(32	)		(1,347	)
Production		(427	)		(648	)		(413	)		(2,910	)


December 31, 2010		5,982			5,301			3,395			20,111
Purchase of reserves in place		—			—			958			8,045
Revisions		887			1,338			412			(547	)
Extensions, discoveries and other additions		—			—			—			—
Sale of reserves in-place		—			—			(1,159	)		(8,467	)
Production		(439	)		(371	)		(399	)		(906	)


December 31, 2011		6,430			6,268			3,207			18,236


Proved-developed reserves:
December 31, 2010		4,166			3,848			2,972			18,228
December 31, 2011		3,495			3,229			2,606			14,695

Proved-undeveloped reserves:
December 31, 2010		1,817			1,453			423			1,885
December 31, 2011		2,935			3,039			602			3,542

Costs incurred associated with finding, acquiring and developing the Company's proved oil and natural gas reserves


	Consolidated				Company’s Share of Equity-Method Investments
	Years Ended December 31,				Years Ended December 31,
	2011		2010		2011		2010
Acquisition of properties—proved	$	—	$	34,336	$	32,586	$	629
Acquisition of properties—unproved		—		—		—		118
Exploratory costs		—		359		—		—
Development costs		10,560		30		18,367		9,980

Total costs incurred	$	10,560	$	34,725	$	50,953	$	10,727

Capitalized costs for oil and gas producing activities


	Consolidated						Company’s Share of Equity-Method Investments
	Years Ended December 31,						Years Ended December 31,
	2011			2010			2011			2010
Unproved oil and gas properties	$	—		$	—		$	13,559		$	24,097
Proved oil and gas properties		44,109			34,336			159,527			144,324
Accumulated depreciation, depletion and amortization		(8,215	)		(3,038	)		(52,764	)		(49,849	)

Capitalized costs, net	$	35,894		$	31,298		$	120,322		$	118,572

Company's ownership of productive oil and natural gas wells


	Consolidated Total				Company’s Share of Equity-Method Investments Total
	Productive Wells				Productive Wells
	Gross		Net		Gross		Net
Oil		10.00		5.10		28.50		18.13
Natural gas		—		—		22.70		11.07

Total		10.00		5.10		51.20		29.20

Information relating to acreage held by the Company


					Company’s Share of
	Consolidated				Equity-Method Investments
	Gross		Net		Gross		Net
	Acreage		Acreage		Acreage		Acreage
Developed		17,280		8,813		69,517		38,434
Undeveloped		—		—		5,560		4,574

Total		17,280		8,813		75,077		43,008

Company's drilling activity


	Company’s Share of Equity-Method Investments
	2011				2010
	Gross		Net		Gross		Net
Exploratory Wells
Productive		0.10		0.01		—		—
Non-productive		0.10		0.07		—		—

Total		0.20		0.08		—		—

Development Wells
Productive		0.20		0.03		0.25		0.15
Non-productive		0.10		0.02		—		—

Total		0.30		0.05		0.25		0.15

Company's results of operations for producing activities


	Years Ended December 31,
	2011		2010
Consolidated Entities
Revenues
Sales	$	54,442	$	39,410

Production costs		12,293		9,511
Exploration expenses		—		359

Depreciation, depletion and amortization		11,928		10,057

		30,221		19,483
Income tax expenses		10,789		7,014


Results of operations from producing activities (excluding corporate overhead)	$	19,432	$	12,469


Company’s share of equity-method investments
Revenues
Sales	$	53,181	$	56,964

Production costs		22,034		23,375
Exploration expenses		—		105

Depreciation, depletion and amortization		18,449		18,557

		12,698		14,927
Income tax expenses		4,533		5,373


Results of operations from producing activities (excluding corporate overhead)	$	8,165	$	9,554

Standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves


							Company’s Share of
	Consolidated						Equity-Method Investments
	2011			2010			2011			2010
Future cash inflows	$	701,170		$	486,199		$	414,246		$	356,126
Future production costs		(126,627	)		(43,392	)		(100,848	)		(83,215	)
Future development and abandonment costs		(58,388	)		(86,125	)		(67,760	)		(84,260	)
Future income tax expenses		(185,816	)		(129,262	)		(73,202	)		(66,161	)

Future net cash flows		330,339			227,420			172,436			122,490
10% annual discount for estimated timing of cash flows		92,590			57,928			39,704			20,014

Standardized measure of discounted future net cash flows	$	237,749		$	169,492		$	132,732		$	102,476

Summary of changes in standardized measure of discounted future net cash flows applicable to proved oil and natural gas reserves


	Consolidated						Company’s Share of Equity- Method Investment
	2011			2010			2011			2010
Beginning of the period	$	169,492		$	—		$	102,476		$	64,136
Net change in sales and transfer prices and in production (lifting) costs related to future production		62,881			102,726			27,944			57,626
Changes in estimated future development costs		8,297			2,950			(8,862	)		(9,051	)
Sales and transfers of oil and gas produced during the period		(54,057	)		(29,542	)		(44,268	)		(32,370	)
Net change due to extensions, discoveries, and improved recovery		—			—			—			2,781
Net changes due to purchases and sales of minerals in place		—			70,993			51,781			(1,912	)
Net changes due to revisions in quantity estimates		57,189			38,206			22,005			16,859
Previously estimated development costs incurred during the period		17,980			1,758			13,840			16,570
Exchange transaction		—			—			(23,356	)		—
Accretion of discount		26,625			16,484			11,179			8,780
Other-unspecified		(12,650	)		2,338			(2,065	)		1,496
Net change in income taxes		(38,008	)		(36,421	)		(17,942	)		(22,439	)

Aggregate change in the standardized measure of discounted future net cash flows for the year		68,257			169,492			30,256			38,340

End of the period	$	237,749		$	169,492		$	132,732		$	102,476

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 31, 2011 yr
Buildings and improvements [Member]
Estimated useful lives of the related assets
Estimated useful lives of the related assets, Minimum	3
Estimated useful lives of the related assets, Maximum	40
Machinery and equipment [Member]
Estimated useful lives of the related assets
Estimated useful lives of the related assets, Minimum	2
Estimated useful lives of the related assets, Maximum	20
Automobiles, trucks, tractors and trailers [Member]
Estimated useful lives of the related assets
Estimated useful lives of the related assets, Minimum	3
Estimated useful lives of the related assets, Maximum	5
Furniture and fixtures [Member]
Estimated useful lives of the related assets
Estimated useful lives of the related assets, Minimum	2
Estimated useful lives of the related assets, Maximum	10

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Summary of activity of goodwill
Goodwill, Beginning Balance	$ 588,000	$ 482,480
Acquisition activities	3,563	93,650
Disposition activities	(519)	(80)
Write down of goodwill	(10,334)	0	$ 0
Additional consideration paid for prior acquisitions	1,000	15,029
Foreign currency translation adjustment	(331)	(3,079)
Goodwill, Ending Balance	581,379	588,000	482,480
Subsea and Well Enhancement [Member]
Summary of activity of goodwill
Goodwill, Beginning Balance	437,684	332,111
Acquisition activities	3,563	93,650
Additional consideration paid for prior acquisitions		14,029
Foreign currency translation adjustment	(296)	(2,106)
Goodwill, Ending Balance	440,951	437,684	332,111
Drilling Products and Services [Member]
Summary of activity of goodwill
Goodwill, Beginning Balance	139,463	139,436
Additional consideration paid for prior acquisitions	1,000	1,000
Foreign currency translation adjustment	(35)	(973)
Goodwill, Ending Balance	140,428	139,463	139,436
Marine [Member]
Summary of activity of goodwill
Goodwill, Beginning Balance	10,853	10,933
Disposition activities	(519)	(80)
Write down of goodwill	$ (10,334)
Goodwill, Ending Balance		$ 10,853	$ 10,933

Summary of Significant Accounting Policies (Details 2) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Composition of Intangible and other long-term assets
Gross Amount	$ 950,756	$ 136,048
Accumulated Amortization	(20,620)	(22,065)
Net Balance	930,136	113,983
Deferred compensation plan assets [Member]
Composition of Intangible and other long-term assets
Gross Amount	10,598	10,820
Accumulated Amortization
Net Balance	10,598	10,820
Escrowed cash [Member]
Composition of Intangible and other long-term assets
Gross Amount	50,196	33,013
Accumulated Amortization
Net Balance	50,196	33,013
Restricted cash [Member]
Composition of Intangible and other long-term assets
Gross Amount	785,280
Accumulated Amortization
Net Balance	785,280
Long-term assets held as major replacement spares [Member]
Composition of Intangible and other long-term assets
Gross Amount	13,806	19,999
Accumulated Amortization
Net Balance	13,806	19,999
Customer relationships [Member]
Composition of Intangible and other long-term assets
Gross Amount	23,707	23,306
Accumulated Amortization	(6,144)	(4,317)
Net Balance	17,563	18,989
Trade names [Member]
Composition of Intangible and other long-term assets
Gross Amount	18,005	17,924
Accumulated Amortization	(2,706)	(1,622)
Net Balance	15,299	16,302
Non-compete agreements [Member]
Composition of Intangible and other long-term assets
Gross Amount	1,697	1,320
Accumulated Amortization	(1,126)	(1,211)
Net Balance	571	109
Debt acquisition costs [Member]
Composition of Intangible and other long-term assets
Gross Amount	41,449	25,886
Accumulated Amortization	(10,039)	(14,412)
Net Balance	31,410	11,474
Other [Member]
Composition of Intangible and other long-term assets
Gross Amount	6,018	3,780
Accumulated Amortization	(605)	(503)
Net Balance	$ 5,413	$ 3,277

Summary of Significant Accounting Policies (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Summary of the activity for the Company's decommissioning liabilities
Decommissioning liabilities, December 31, 2010 and 2009, respectively	$ 117,716
Liabilities acquired and incurred		$ 136,559
Liabilities settled	(504)	(1,759)
Accretion	6,752	7,018
Revision in estimated liabilities	(788)	(24,102)
Total decommissioning liabilities, December 31, 2011 and 2010, respectively	123,176	117,716
Less: current portion of decommissioning liabilities at December 31, 2011 and 2010, respectively	14,956	16,929
Long-term decommissioning liabilities, December 31, 2011 and 2010, respectively	$ 108,220	$ 100,787

Summary of Significant Accounting Policies (Details Textual) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2010 USD ($) Liftboat	Dec. 31, 2011 USD ($) yr Vessel Customer shares	Dec. 31, 2010 USD ($) Customer shares	Dec. 31, 2009 USD ($) shares	Mar. 31, 2010 USD ($)
Summary of Significant Accounting Policies (Additional Textual) [Abstract]
Number of customer accounted for major revenue \| Customer		0	0
Maximum percentage of revenue for a single major customer		10.00%	10.00%
Maximum maturity of short-term investments purchased to be cash equivalents		90 days
Inventory included in inventory and other assets	$ 70,000	$ 83,100	$ 70,000
Finished Goods	31,400	39,000	31,400
Work in progress	1,400	2,300	1,400
Raw materials	2,200	5,400	2,200
Supplies and Consumables	35,000	36,400	35,000
Costs and estimated earnings in excess of billings included in other current assets	146,900	133,400	146,900
Capitalized interest on the cost of major capital projects		7,100	2,700	$ 2,900
Amount of liftboat components wrote off	$ 32,000	35,800	32,000
Number of components partially completed \| Liftboat	2
Reduction in the value of property, plant and equipment		$ 35,800		119,800
Percentage of the discounted cash flow method for estimation of fair value of reporting units		80.00%
Percentage of the public company guideline method for estimation of fair value of reporting units		20.00%
Impairment loss		$ (10,334)	0	0
Amount of notes receivable net		$ 115,000
Interest rate percentage to record present value of notes receivable		6.58%
Company recorded interest income		$ 4,500	4,500
Amortization expense exclusive of debt acquisition costs		3,400	$ 3,300	4,300
Amortization of intangible assets exclusive of debt acquisition costs for 2012		3,400
Amortization of intangible assets exclusive of debt acquisition costs for 2013		3,300
Amortization of intangible assets exclusive of debt acquisition costs for 2014		3,200
Amortization of intangible assets exclusive of debt acquisition costs for 2015		3,000
Amortization of intangible assets exclusive of debt acquisition costs for 2016		2,900
Expense recorded in connection with intangible assets due to the decline in demand for services in the domestic land market area				$ 92,700
Decommissioning Liabilities		$ 10,000
Number of restored chartered vessels \| Vessel		2
Number of Stock options and restricted stock units excluded in the computation of diluted earnings per share \| shares		540,000	1,650,000	1,180,000
Fair value of the debt	$ 902,500	$ 1,749,800	$ 902,500
Foreign currency gains		$ 1,400	$ 1,600	$ 3,500
Percentage of semi annual interest to be received at Fixed Rate					6.875%
Amount of Debt at Fixed Rates		87.00%
Interest rate swap agreement for a notional amount		$ 150,000			$ 150,000
Variable interest rate, Adjustment		90 days
Chevron [Member]
Summary of Significant Accounting Policies (Textual) [Abstract]
Percentage of revenue from major customer				15.00%
Apache [Member]
Summary of Significant Accounting Policies (Textual) [Abstract]
Percentage of revenue from major customer				13.00%
BP [Member]
Summary of Significant Accounting Policies (Textual) [Abstract]
Percentage of revenue from major customer				11.00%
Unsecured senior notes due 2021 [Member]
Debt (Textual) [Abstract]
Unsecured senior notes, outstanding		$ 800,000
Stated interest rate on unsecured senior notes		7.125%
Unsecured senior notes, due date		Dec. 15, 2021
Other long term assets as net proceeds from unsecured senior notes		$ 785,300
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average useful lives of intangible assets \| yr		13
Trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average useful lives of intangible assets \| yr		17
Non-compete agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average useful lives of intangible assets \| yr		3
Debt Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average useful lives of debt acquisition \| yr		9

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2009	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Supplemental Cash Flow Information [Abstract]
Cash paid for interest, net of amounts capitalized		$ 39,539	$ 34,034	$ 28,833
Cash paid for income taxes		22,320	25,435	16,434
Details of business acquisitions:
Fair value of assets		8,650	515,767	1,247
Fair value of liabilities		(6,902)	(228,417)
Cash paid		1,748	287,350	1,247
Less cash acquired			(11,273)
Net cash paid for acquisitions		1,748	276,077	1,247
Details of proceeds from sale of businesses:
Book value of assets		13,791	4,236	5,632
Book value of liabilities			81
Gain on sale of businesses		8,558	1,083	2,084
Receivable due from sale			(150)
Proceeds from sale of businesses	$ 7,700	22,349	5,250	7,716
Non-cash investing activity:
Long term payable on vessel construction				5,000
Capital expenditures included in accounts payable		$ 23,053
Additional consideration payable on acquisitions				$ 484
Non-cash financing activity:
Share settlement for employee tax liability			$ 3,093

Acquisitions (Details) $ in Thousands	Feb. 07, 2012 USD ($)
Assets:
Current assets	$ 751,706
Property, plant and equipment	1,223,448
Goodwill	1,922,277
Intangible and other long-term assets	370,377
Liabilities:
Current liabilities	236,986
Deferred income taxes	435,904
Other long-term liabilities	4,125
Net asset acquired	$ 3,590,793

Acquisitions (Details Textual) $ / shares in Units, $ in Thousands, shares in Millions	1 Months Ended	12 Months Ended
	Feb. 29, 2012 USD ($) $ / shares shares	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Feb. 07, 2012 USD ($)	Sep. 30, 2011 USD ($)	Aug. 30, 2010 USD ($)	Jan. 31, 2010	Jan. 30, 2010	Jan. 26, 2010 USD ($)
Business Acquisitions (Textual) [Abstract]
Goodwill Amount					$ 1,922,277
Equity interest acquired								100.00%
Conveyance of undivided interest in assets and related well plugging and abandonment obligations								49.00%
Total consideration for merger including both cash and stock					2,914,800
Expenses acquisition related costs		$ 33,200
Acquisitions (Textual) [Abstract]
Maximum additional consideration for acquisitions payable through 2012			$ 3,000
Additional consideration			1,200
Capitalized consideration			1,000	$ 200
Pressure Pumping Company [Member]
Business Acquisitions (Textual) [Abstract]
Approximately cash paid out of the whole amount						$ 500
Business acquisition consideration to be paid following settlement of liabilities and administrative formalities						5,800
Goodwill Amount						$ 3,600
Equity interest acquired						100.00%
Superior Completion Services [Member]
Business Acquisitions (Textual) [Abstract]
Approximately cash paid out of the whole amount							$ 54,300
Hallin Marine Subsea International Plc [Member]
Business Acquisitions (Textual) [Abstract]
Approximately cash paid out of the whole amount										$ 162,300
Equity interest acquired										100.00%
Acquiree debt repaid										$ 55,500
Shell Offshore Inc Gulf of Mexico Bullwinkle Platform [Member]
Business Acquisitions (Textual) [Abstract]
Equity interest acquired									100.00%
Conveyance of undivided interest in assets and related well plugging and abandonment obligations								49.00%
Complete Production Services [Member]
Business Acquisitions (Textual) [Abstract]
Approximately cash paid out of the whole amount					$ 553,300
Complete stockholders received of a share of the company's common stock	0.945
Business acquisition cost of acquired entity cash paid per share \| $ / shares	$ 7.00
Shares issued for merger agreement \| shares	74.7
Closing price of our common stock on the merger date \| $ / shares	$ 30.90
Approximately cash acquisition	$ 2,308,200
Company will repay of complete debt			676,000
Prepayment premium			$ 26,000
Percentage of senior notes			8.00%
Estimated Fair Value of Option Issued for Due to Conversion					1.1999
Estimated Fair Value of Option and Restricted Stock Issued as Consideration					$ 58,100
Fair value of options and restricted stock capitalized as part of total consideration					56,600
Estimated Fair Value of Option Recorded as Part of Consideration Transferred					52,700
Estimated fair value of options and restricted stock related to pre-combination service recorded as expense					3,900
Amount expensed over remaining service term of replacement stock option awards	1,500
Additional replacement restricted stock awards					600
Additional amount of expensed over remaining service term of replacement restricted stock awards	18,200
Current year acquisition related expenses			$ 4,500
Approximate asset acquired					$ 214,600
Fair value of the current assets acquired includes trade receivables			443,700
Gross amount due from customers			449,000
Customers deemed to be doubtful			5,300
Complete Production Services [Member] \| Senior Notes Due 2016 [Member]
Business Acquisitions (Textual) [Abstract]
Company will repay of complete debt			$ 650,000
Water transfer and storage company [Member]
Business Acquisitions (Textual) [Abstract]
Approximately cash paid out of the whole amount	23,500
Goodwill Amount	$ 9,200

Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
Discontinued Operations (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Components of income (loss) from discontinued operations
Income (loss) from discontinued operations, net of tax	$ (16,835)	$ (4,329)	$ 18,217
Segment, Discontinued Operations [Member]
Components of income (loss) from discontinued operations
Revenues	105,834	118,573	128,659
Income (loss) from discontinued operations before income tax	(32,051)	(7,558)	26,724
Income tax expense (benefit)	(9,083)	(2,505)	9,825
Gain on disposition, net of tax of $2,425, $359 and $766 in 2011, 2010 and 2009, respectively	6,133	724	1,318
Income (loss) from discontinued operations, net of tax	$ (16,835)	$ (4,329)	$ 18,217

- Definition

Overall income (loss) from a disposal group that is classified as a component of the entity, before income tax, reported as a separate component of income before extraordinary items. Includes the following (before income tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References + Details

- Definition

Tax effect allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. Includes the tax effects of the following: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 47
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b),(c)
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6909487&loc=d3e38679-109324

+ Details

- Definition

This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 47
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 03
-Paragraph 15

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 13
-Article 7

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.12)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.14)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Discontinued Operations (Details 1) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Assets and liabilities of disposal groups
Accounts receivable, net	$ 16,342	$ 30,265
Prepaid expenses	1,900	1,403
Inventory and other current assets	2,371	11,521
Current assets of discontinued operations	20,613	43,189
Property, plant and equipment, net	170,222	229,600
Goodwill	9,740	20,595
Intangible and other long-term assets, net	3,875	7,784
Long-term assets of discontinued operations	183,837	257,979
Accounts payable	1,231	3,204
Accrued expenses	13,421	15,068
Current maturities of long-term debt	810	810
Current liabilities of discontinued operations	15,462	19,082
Long-term debt	$ 11,736	$ 12,546

Discontinued Operations (Details Textual) $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
Discontinued Operations (Details Textual) $ in Thousands	Mar. 31, 2012 USD ($) Liftboat	Feb. 29, 2012 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2009 USD ($)	Dec. 31, 2011 USD ($) Liftboat	Dec. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)
Discontinued Operations (Textual) [Abstract]
Numbers of liftboats sold \| Liftboat	18				7
Sold liftboats amount				$ 7,700	$ 22,349	$ 5,250	$ 7,716
Loss on sale of businesses					8,558	1,083	$ 2,084
Carrying value of goodwill			$ 9,740		$ 9,740	20,595
Receivable related to liftboat sold						$ 100
Number of liftboats administered by the Maritime Administration \| Liftboat					2
U.S. Government guaranteed long-term financing - interest payable semiannually at 6.45%, due in semiannual installments through June 2027 [Member]
Discontinued Operations (Textual) [Abstract]
Outstanding guaranteed long-term financing					$ 12,500
Marine [Member]
Discontinued Operations (Textual) [Abstract]
Sold liftboats amount	$ 141,400
Loss on sale of businesses			10,000
Write off long lived assets			$ 46,100
DB Superior Pride [Member]
Discontinued Operations (Textual) [Abstract]
Sold liftboats amount		$ 44,500
Loss on sale of businesses		3,100
Carrying value of goodwill		$ 9,700

Long-Term Contracts (Details) $ in Millions	1 Months Ended
Long-Term Contracts (Details) $ in Millions	Dec. 31, 2007 USD ($) Well	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Jan. 31, 2010 USD ($)	Jan. 30, 2010
Long-Term Contracts (Textual) [Abstract]
Percentage of ownership acquired by Wild Well in Shell Offshore Inc.'s Gulf of Mexico Bullwinkle platform				100.00%
Conveyance of undivided interest in assets and related well plugging and abandonment obligations				49.00%
Costs and estimated earnings in excess of billings included in other current assets		$ 133.4	$ 146.9
Shell Offshore Inc. Gulf of Mexico Bullwinkle Platform [Member]
Long-Term Contracts (Textual) [Abstract]
Percentage of ownership acquired by Wild Well in Shell Offshore Inc.'s Gulf of Mexico Bullwinkle platform					100.00%
Wild Well [Member]
Long-Term Contracts (Textual) [Abstract]
Performance bonds required to be obtained by Wild Well				$ 50.0
Amounts to be funded in Escrow account by Wild Well				$ 50.0
Escrowed cash included in intangible and other long-term assets, net		50.2	33.0
Deferred revenue included in other long-term liabilities		24.6	16.2
Contractual arrangements fixed sum	$ 750.0
Number of downed oil and gas platforms and related well facilities decommissioned \| Well	7
Costs and estimated earnings in excess of billings included in other current assets		$ 129.7	$ 144.5

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Summary of property, plant and equipment
Buildings, improvements and leasehold improvements	$ 139,432	$ 127,725
Marine vessels and equipment	417,413	499,398
Machinery and equipment	1,596,580	1,248,318
Automobiles, trucks, tractors and trailers	38,770	31,934
Furniture and fixtures	40,575	35,124
Construction-in-progress	171,108	83,694
Land	29,518	24,223
Oil and gas producing assets	44,109	34,336
Property, plant and equipment, gross	2,477,505	2,084,752
Accumulated depreciation and depletion	(970,137)	(771,602)
Property, plant and equipment, net	$ 1,507,368	$ 1,313,150

Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Feb. 28, 2009
Property, Plant and Equipment (Additional Textual) [Abstract]
Reduction in value of assets	$ (35,762)	$ (32,004)	$ (119,844)
Property, Plant and Equipment (Textual) [Abstract]
Leasehold improvements	23,200	22,700
Depreciation expense	$ 212,200	195,000	189,700
Renewal option under capital lease	2 years
Equity interest owns leased assets	5.00%
Entity owning debt	$ 28,900
Gross asset value under the capital lease				$ 37,600
Depreciation expense	4,200	3,800
Capital lease payment included in other long term liabilities	29,500	33,000
Capital lease payment included in accounts payable	3,600	3,200
Future minimum lease payments under capital lease	3,600
Future minimum lease payments under this capital lease Year One	3,900
Future minimum lease payments under this capital lease Year Two	4,200
Future minimum lease payments under this capital lease Year Three	4,600
Future minimum lease payments under this capital lease Year Four	5,000
Interest expense with capital lease	3,000	3,000
Property, plant and equipment [Member]
Property, Plant and Equipment (Additional Textual) [Abstract]
Reduction in value of assets	$ 35,800	$ 32,000	$ 119,800
Capital Lease Obligations [Member]
Property, Plant and Equipment (Additional Textual) [Abstract]
Outstanding senior exchangeable notes	8.50%

Equity-Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Summary of financial information for all investments that are accounted for using the equity-method of accounting
Current Assets	$ 229,516	$ 104,241
Noncurrent assets	1,305,514	487,136
Total assets	1,535,030	591,377
Current liabilities	202,465	49,587
Noncurrent liabilities	797,031	197,672
Total liabilities	999,496	247,259
Revenues	468,140	204,935	$ 245,092
Cost of sales	181,433	80,525	110,101
Gross profit	286,707	124,410	134,991
Income (loss) from continuing operations	$ 95,581	$ (8,016)	$ (10,024)

Equity-Method Investments (Details Textual) - USD ($) $ in Thousands, shares in Millions	1 Months Ended	2 Months Ended	3 Months Ended		10 Months Ended	12 Months Ended
	Mar. 31, 2011	Feb. 28, 2011	Jun. 30, 2012	Dec. 31, 2009	Dec. 31, 2011	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Oct. 31, 2009
Equity-Method Investments (Textual) [Abstract]
Equity-method investments					$ 72,472	$ 72,472	$ 59,322
Equity-method investments								$ 36,486
Earnings from equity-method investments						16,394	8,245	(22,600)
Cash contributed to equity-method investment								8,694
SPN Resources [Member]
Equity-Method Investments (Textual) [Abstract]
Equity-method investments							43,600
Earnings from equity-method investments		$ 200					1,200	7,600
Receivable from equity method investment							3,200
Revenue from equity-method investment		300					11,400	11,000
Cash distributions received from equity-method investment							9,900	5,900
Net increase in revenue and its investment								600
DBH [Member]
Equity-Method Investments (Textual) [Abstract]
Equity-method investments							13,800
Earnings from equity-method investments		900		$ 1,000			7,100
Receivable from equity method investment							1,400
Revenue from equity-method investment		$ 900		2,400			4,100
Cash contributed to equity-method investment				$ 8,700
Cash distributions received from equity-method investment							$ 1,000
Equity-method ownership percentage									24.60%
Dynamic Offshore [Member]
Equity-Method Investments (Textual) [Abstract]
Percentage of limited partnership interest	10.00%
Equity-method investments					70,600	70,600
Earnings from equity-method investments					15,000
Receivable from equity method investment					9,800	9,800
Revenue from equity-method investment					44,900
Cash distributions received from equity-method investment					2,800
Dynamic Offshore [Member]
Equity-Method Investments (Textual) [Abstract]
Receivables from Dynamic Offshore					14,000	14,000
Beryl Oil and Gas LP [Member]
Equity-Method Investments (Textual) [Abstract]
Equity-method investments								36,500
Earnings from equity-method investments								14,000
Revenue from equity-method investment								7,000
Cash contributed to equity-method investment								$ 57,800
Equity-method ownership percentage				40.00%				40.00%
Net decrease in its investment in BOG								$ 6,100
Net increase in revenue and its investment								$ 200
Dynamic Offshore acquired by SandRidge Energy Inc. [member]
Equity-Method Investments (Additional Textual) [Abstract]
Cash Consideration to be Paid for Dynamic Offshore					$ 34,100	$ 34,100
Share Issuable in Acquisition of Dynamic Offshore						7.0
Dynamic Offshore acquired by SandRidge Energy Inc. [member] \| Scenario, Forecast [Member]
Equity-Method Investments (Additional Textual) [Abstract]
Gain loss from Equity method investment			$ 18,000

Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Company's long-term debt
Long-term debt	$ 1,685,897	$ 866,445
Less current portion	810	184,810
Long-term debt	1,685,087	681,635
Revolving credit facility - interest payable monthly at floating rate, due December 2014 [Member]
Company's long-term debt
Long-term debt	75,000	175,000
U.S. Government guaranteed long-term financing - interest payable semiannually at 6.45%, due in semiannual installments through June 2027 [Member]
Company's long-term debt
Long-term debt	12,546	13,356
Senior Notes - interest payable semiannually at 6.875%, due June 2014 [Member]
Company's long-term debt
Long-term debt	300,000	300,000
Discount on 6.875% Senior Notes [Member]
Company's long-term debt
Long-term debt	(1,649)	(2,248)
Senior Notes interest payable semiannually at 6.375% due May 2019 [Member]
Company's long-term debt
Long-term debt	500,000
Senior Notes interest payable semiannually at 7.125% due December 2021 [Member]
Company's long-term debt
Long-term debt	$ 800,000
Senior Exchangeable Notes - interest payable semiannually at 1.5% until December 2011 and 1.25% thereafter due December 2026 [Member]
Company's long-term debt
Long-term debt		400,000
Discount on 1.5% Senior Exchangeable Notes [Member]
Company's long-term debt
Long-term debt		$ (19,663)

Debt (Details 1) $ in Thousands	Dec. 31, 2011 USD ($)
Annual maturities of long-term debt
2012	$ 810
2013	810
2014	375,810
2015	810
2016	810
Thereafter	1,308,496
Total	$ 1,687,546

Debt (Details Textual)	12 Months Ended
Debt (Details Textual)	Dec. 31, 2011 USD ($) Liftboat	Feb. 07, 2012	Dec. 15, 2011	Dec. 03, 2011 USD ($)	Jun. 03, 2011 USD ($)	Apr. 30, 2011	Dec. 31, 2010 USD ($)
Debt (Textual) [Abstract]
Debt instrument, outstanding	$ 1,687,546,000
Redeem unsecured senior exchangeable notes	$ 400,000,000
Debt (Additional Textual) [Abstract]
Principal payable, semi annual installments				$ 405,000	$ 405,000
Mortgages	2 liftboats
Amount available under revolving credit facility							$ 216,000,000
Complete Merger [Member]
Line of credit facility (Textual) [Abstract]
Maturity date of additional bank revolving credit facility		Feb. 07, 2017
U.S. Government guaranteed long-term financing [Member]
Debt (Textual) [Abstract]
Debt Maturity Date	Jun. 03, 2027
Debt instrument, outstanding	$ 12,600,000
Number of 245-Foot class liftboats \| Liftboat	2
Stated interest rate on unsecured senior notes	6.45%
Credit Facility Due 2014 [Member]
Debt (Textual) [Abstract]
Debt Maturity Date	Jul. 20, 2014
Unsecured senior notes due 2014 [Member]
Debt (Textual) [Abstract]
Debt Maturity Date	Jun. 01, 2014
Debt instrument, outstanding	$ 300,000,000
Stated interest rate on unsecured senior notes	6.875%
Unsecured senior notes due 2019 [Member]
Debt (Textual) [Abstract]
Debt Maturity Date	May 01, 2019
Stated interest rate on unsecured senior notes	6.375%					6.375%
Unsecured senior notes, outstanding	$ 500,000,000
Costs associated with the issuance of unsecured senior notes	$ 9,700,000
Unsecured senior notes due 2021 [Member]
Debt (Textual) [Abstract]
Debt Maturity Date	Dec. 15, 2021
Stated interest rate on unsecured senior notes	7.125%
Unsecured senior notes, outstanding	$ 800,000,000
Costs associated with the issuance of unsecured senior notes	15,100,000
Senior exchangeable notes [Member]
Debt (Textual) [Abstract]
Stated interest rate on unsecured senior notes			1.50%
Purchase price payable for redemption of exchangeable notes			100.00%
Revolving Credit Facility [Member]
Line of credit facility (Textual) [Abstract]
Revolving Borrowing capacity, current	400,000,000
Line of credit facility maximum borrowing capacity after amendment	$ 600,000,000
Line of credit facility weighted average interest rate	5.00%						3.40%
Line of credit letters of credit outstanding	$ 11,000,000
Revolving Credit Facility [Member] \| Complete Merger [Member]
Line of credit facility (Textual) [Abstract]
Line of credit facility maximum borrowing capacity after amendment	600,000,000
Aggregate principal amount of term loan	400,000,000
Repayment installment of term loan	5,000,000
Line of credit facility amendments cost	$ 24,500,000

Stock-Based and Long-Term Compensation (Details)	12 Months Ended
Stock-Based and Long-Term Compensation (Details)	Dec. 31, 2011 yr $ / shares	Dec. 31, 2010 yr $ / shares	Dec. 31, 2009 yr $ / shares
Fair value of stock option grants
Weighted average fair value of grants \| $ / shares	$ 13.54	$ 10.56	$ 8.95
Black-Scholes-Merton Assumptions:
Risk free interest rate	0.85%	2.07%	1.77%
Expected life (years) \| yr	5	4	4
Volatility	56.31%	49.28%	53.57%
Dividend yield

Stock-Based and Long-Term Compensation (Details 1) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2011 USD ($) yr $ / shares shares	Dec. 31, 2010 USD ($) yr $ / shares shares	Dec. 31, 2009 USD ($) yr $ / shares shares
Summarization of stock option activity
Number of Options, Outstanding, Beginning Balance \| shares	5,000,453	3,538,545	3,267,910
Weighted Average Option Price, Outstanding, Beginning Balance \| $ / shares	$ 18.78	$ 15.84	$ 15.37
Weighted Average Remaining Contractual Term, Outstanding, Beginning Balance \| yr	0	0	0
Aggregate Intrinsic Value, Outstanding, Beginning Balance \| $	$ 0	$ 0	$ 0
Number of Options, Granted \| shares	207,183	1,549,058	309,352
Weighted Average Option Price, Granted \| $ / shares	$ 28.97	$ 25.04	$ 20.01
Weighted Average Remaining Contractual Term, Granted \| yr	0	0	0
Aggregate Intrinsic Value, Granted \| $	$ 0	$ 0	$ 0
Number of Options, Exercised \| shares	(876,435)	(87,150)	(38,717)
Weighted Average Option Price, Exercised \| $ / shares	$ 11.71	$ 10.62	$ 9.71
Weighted Average Remaining Contractual Term, Exercised \| yr	0	0	0
Aggregate Intrinsic Value, Exercised \| $	$ 0	$ 0	$ 0
Number of Options, Outstanding, Ending Balance \| shares	4,331,201	5,000,453	3,538,545
Weighted Average Option Price, Outstanding, Ending Balance \| $ / shares	$ 20.70	$ 18.78	$ 15.84
Weighted Average Remaining Contractual Term, Outstanding, Ending Balance \| yr	6.0	0	0
Aggregate Intrinsic Value, Outstanding, Ending Balance \| $	$ 36,885	$ 0	$ 0
Number of Options, Exercisable, Ending Balance \| shares	3,647,745
Weighted Average Option Price, Exercisable, Ending Balance \| $ / shares	$ 19.62
Weighted Average Remaining Contractual Term, Exercisable, Ending Balance \| yr	5.4
Aggregate Intrinsic Value, Exercisable, Ending Balance \| $	$ 34,783
Number of Options, Options Expected to Vest, Ending Balance \| shares	683,456
Weighted Average Option Price, Options Expected to Vest, Ending Balance \| $ / shares	$ 26.46
Weighted Average Remaining Contractual Term, Options Expected to Vest, Ending Balance \| yr	8.9
Aggregate Intrinsic Value, Options Expected to Vest, Ending Balance \| $	$ 2,102

Stock-Based and Long-Term Compensation (Details 2)	12 Months Ended
Stock-Based and Long-Term Compensation (Details 2)	Dec. 31, 2011 yr $ / shares shares	Dec. 31, 2010 yr	Dec. 31, 2009 yr	Dec. 31, 2008 yr
Summary of stock options outstanding
Options Outstanding, Shares \| shares	3,647,745
Options Outstanding, Weighted Average Remaining Contractual Life \| yr	6.0	0	0	0
Options Outstanding, Weighted Average Price	$ 19.62
07.31 - 08.79 [Member]
Summary of stock options outstanding
Range of Exercise Prices, Minimum	7.31
Range of Exercise Prices, Maximum	$ 8.79
Options Outstanding, Shares \| shares	61,665
Options Outstanding, Weighted Average Remaining Contractual Life \| yr	1.3
Options Outstanding, Weighted Average Price	$ 8.78
Options Exercisable, Shares \| shares	61,665
Options Exercisable, Weighted Average Price	$ 8.78
09.10 - 09.90 [Member]
Summary of stock options outstanding
Range of Exercise Prices, Minimum	9.10
Range of Exercise Prices, Maximum	$ 9.90
Options Outstanding, Shares \| shares	80,313
Options Outstanding, Weighted Average Remaining Contractual Life \| yr	0.4
Options Outstanding, Weighted Average Price	$ 9.48
Options Exercisable, Shares \| shares	80,313
Options Exercisable, Weighted Average Price	$ 9.48
10.36 - 10.90 [Member]
Summary of stock options outstanding
Range of Exercise Prices, Minimum	10.36
Range of Exercise Prices, Maximum	$ 10.90
Options Outstanding, Shares \| shares	770,268
Options Outstanding, Weighted Average Remaining Contractual Life \| yr	2.6
Options Outstanding, Weighted Average Price	$ 10.66
Options Exercisable, Shares \| shares	770,268
Options Exercisable, Weighted Average Price	$ 10.66
12.45 - 13.34 [Member]
Summary of stock options outstanding
Range of Exercise Prices, Minimum	12.45
Range of Exercise Prices, Maximum	$ 13.34
Options Outstanding, Shares \| shares	309,977
Options Outstanding, Weighted Average Remaining Contractual Life \| yr	6.9
Options Outstanding, Weighted Average Price	$ 12.88
Options Exercisable, Shares \| shares	309,977
Options Exercisable, Weighted Average Price	$ 12.88
17.46 - 23.00 [Member]
Summary of stock options outstanding
Range of Exercise Prices, Minimum	17.46
Range of Exercise Prices, Maximum	$ 23.00
Options Outstanding, Shares \| shares	1,502,669
Options Outstanding, Weighted Average Remaining Contractual Life \| yr	6.3
Options Outstanding, Weighted Average Price	$ 19.92
Options Exercisable, Shares \| shares	1,236,572
Options Exercisable, Weighted Average Price	$ 19.55
24.00 - 30.00 [Member]
Summary of stock options outstanding
Range of Exercise Prices, Minimum	24.00
Range of Exercise Prices, Maximum	$ 30.00
Options Outstanding, Shares \| shares	1,133,657
Options Outstanding, Weighted Average Remaining Contractual Life \| yr	7.9
Options Outstanding, Weighted Average Price	$ 25.98
Options Exercisable, Shares \| shares	829,664
Options Exercisable, Weighted Average Price	$ 25.38
34.40 - 35.84 [Member]
Summary of stock options outstanding
Range of Exercise Prices, Minimum	34.40
Range of Exercise Prices, Maximum	$ 37.64
Options Outstanding, Shares \| shares	464,239
Options Outstanding, Weighted Average Remaining Contractual Life \| yr	6.8
Options Outstanding, Weighted Average Price	$ 35.37
Options Exercisable, Shares \| shares	350,873
Options Exercisable, Weighted Average Price	$ 35.57
40.00 - 40.69 [Member]
Summary of stock options outstanding
Range of Exercise Prices, Minimum	40.00
Range of Exercise Prices, Maximum	$ 40.69
Options Outstanding, Shares \| shares	8,413
Options Outstanding, Weighted Average Remaining Contractual Life \| yr	6.2
Options Outstanding, Weighted Average Price	$ 40.69
Options Exercisable, Shares \| shares	8,413
Options Exercisable, Weighted Average Price	$ 40.69

Stock-Based and Long-Term Compensation (Details 3)	12 Months Ended
Stock-Based and Long-Term Compensation (Details 3)	Dec. 31, 2011 $ / shares shares
Summarizes Non-vested Stock Option [Abstract]
Number of Option, Beginning Balance \| shares	869,971
Weighted Average Grant Date Fair Value, Beginning Balance \| $ / shares	$ 10.23
Number of Option, Granted \| shares	207,183
Weighted Average Grant Date Fair Value, Granted \| $ / shares	$ 13.54
Number of Option, Vested \| shares	(393,698)
Weighted Average Grant Date Fair Value, Vested \| $ / shares	$ 9.61
Number of Option, Ending Balance \| shares	683,456
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares	$ 11.59

Stock-Based and Long-Term Compensation (Details 4) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2011 $ / shares shares
Summary of restricted stock
Number of Shares, Beginning Balance \| shares	792,436
Weighted Average Grant Date Fair Value, Beginning Balance \| $ / shares	$ 22.25
Number of Shares, Granted \| shares	567,083
Weighted Average Grant Date Fair Value, Granted \| $ / shares	$ 28.84
Number of Shares, Vested \| shares	(294,144)
Weighted Average Grant Date Fair Value, Vested \| $ / shares	$ 19.80
Number of Shares, Forfeited \| shares	(25,658)
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	$ 22.49
Number of Shares, Ending Balance \| shares	1,039,717
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares	$ 27.07

Stock-Based and Long-Term Compensation (Details 5) - Restricted Stock Units [Member]	12 Months Ended
	Dec. 31, 2011 $ / shares shares
Summary of the activity of restricted stock units
Number of Shares, Beginning Balance \| shares	136,173
Weighted Average Grant Date Fair Value, Beginning Balance \| $ / shares	$ 27.02
Number of Shares, Granted \| shares	34,284
Weighted Average Grant Date Fair Value, Granted \| $ / shares	$ 35.10
Number of Shares, Ending Balance \| shares	170,457
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares	$ 28.64

- Definition

The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.

+ References + Details

Stock-Based and Long-Term Compensation (Details Textual)	12 Months Ended
	Dec. 31, 2011 USD ($) shares	Dec. 31, 2010 USD ($) Employees shares	Dec. 31, 2009 USD ($) shares
Stock Based and Long-Term Compensation (Textual) [Abstract]
Non Qualified Stock Option \| shares	207,183	1,549,058	309,352
Vesting of restricted stock	$ 1,600,000
Intrinsic value of option exercised	0	$ 0	$ 0
Proceeds from stock options exercised	10,300,000	900,000	400,000
Tax benefits from stock options exercised	7,400,000	600,000	200,000
Amount paid to employees for settlement			$ 4,700,000
Issue of common stock to employees \| shares			71,400
Proceed from issue of shares under employee stock purchase plans	2,206,000	1,891,000	$ 1,958,000
Earnings and losses of deferred compensation plan assets	$ (822,000)	825,000	571,000
Stock Based and Long-Term Compensation (Additional Textual) [Abstract]
Employee Deferral to Non-Qualified Deferred Compensation Plan	up to 75% of their base salary, up to 100% of their bonus, and up to 100% of the cash portion of their PSU compensation to the plan
Profit Sharing Plan [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Company's contribution	$ 7,400,000	3,300,000	3,800,000
Maximum [Member] \| Profit Sharing Plan [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Percentage of employee contribution from their earnings	75.00%
Percentage of company's contribution of employee's salary	5.00%
Stock Options [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Option vested, Period	Over 3 years
Option expires, years	In 10 years
Compensation expense	$ 3,300,000	$ 15,500,000	2,400,000
Number of option modified affecting employees related to management transition \| shares		1,418,395
Number of employees affected in connection with management transition \| Employees		3
Incremental compensation cost related to options		$ 9,800,000
Intrinsic value of option exercised	23,400,000
Unrecognized Compensation expense related to non-vested options outstanding	6,800,000
Compensation expense expected to recognize In 2012	3,700,000
Compensation expense expected to recognize in 2013	2,200,000
Compensation expense expected to recognize in 2014	$ 900,000
Restricted Stock [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Option vested, Period	Over 3 years
Compensation expense	$ 6,000,000	$ 11,400,000	5,800,000
Number of option modified affecting employees related to management transition \| shares		282,781
Number of employees affected in connection with management transition \| Employees		3
Incremental compensation cost related to options		$ 4,300,000
Unrecognized Compensation expense related to non-vested options outstanding	21,800,000
Compensation expense expected to recognize In 2012	9,100,000
Compensation expense expected to recognize in 2013	7,400,000
Compensation expense expected to recognize in 2014	$ 5,300,000
Number of Shares, Granted \| shares	567,083
Share Units Outstanding \| shares	1,039,717	792,436
Restricted Stock Units [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Option vested, Period	Within 30 days
Compensation expense	$ 1,200,000	$ 1,200,000	600,000
Number of Shares, Granted \| shares	34,284
Share Units Outstanding \| shares	170,457	136,173
Performance Share Units [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Compensation expense	$ 3,200,000	$ 5,200,000	7,300,000
Performance period of PSU grant, years	3 year
Performance measures for participants	PSUs provide for settlement in cash or up to 50% in equivalent value in the Company’s common stock, if the participant has met specified continued service requirements
Portion of equivalent value in common stock of company after meeting service requirements, at discretion of compensation committee	50.00%
Current liability	$ 3,800,000	6,000,000
Long-term liability	6,800,000	7,000,000
Amount paid to employees for settlement	$ 2,800,000	6,400,000
Issue of common stock to employees \| shares	67,300
Share Units Outstanding \| shares	366,133
Performance Share Units Outstanding, in 2011 \| shares	70,522
Performance Share Units Outstanding, in 2012 \| shares	96,673
Performance Share Units Outstanding, in 2013 \| shares	81,154
Performance Share Units Outstanding, in 2014 \| shares	117,784
Employee Stock Purchase Plan [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Common stock reserved for issuance \| shares	1,250,000
Compensation expense	$ 388,000	345,000	350,000
Proceed from issue of shares under employee stock purchase plans	$ 2,200,000	$ 1,900,000	$ 2,000,000
Shares issued under Employee Stock Purchase Plan, shares \| shares	75,700	94,200	133,400
Deferred Compensation [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Maximum portion of base salary to defer under non-qualified deferred compensation plan	75.00%
Maximum portion of bonus to defer under non-qualified deferred compensation plan	100.00%
Maximum of cash portion of PSU compensation to defer under non-qualified deferred compensation plan	100.00%
Long-term liability	$ 13,000,000	$ 14,200,000
Accounts payable in anticipation of pending payment	2,800,000	3,000,000
Compensation expense related to earnings and losses	100,000	(1,800,000)	$ (2,800,000)
Deferred compensation plan assets	10,600,000	10,800,000
Earnings and losses of deferred compensation plan assets	$ (200,000)	800,000	600,000
Supplemental Executive Retirement Plan [Member]
Stock Based and Long-Term Compensation (Textual) [Abstract]
Discretionary contribution to participants retirement account		4,700,000
Employers Contribution to be received by plan participants, Minimum	5.00%
Employers Contribution to be received by plan participants, Maximum	35.00%
Employers contribution	$ 1,000,000	5,500,000	2,200,000
Compensation expense	1,800,000	5,600,000	2,100,000
Amount of the cost recognized	$ 5,500,000	$ 0	$ 0

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Components of income and loss from continuing operations before income taxes
Domestic	$ 244,401	$ 124,463	$ (220,351)
Foreign	792	7,114	31,664
Income and loss from continuing operations before income taxes	$ 245,193	$ 131,577	$ (188,687)

Income Taxes (Details 1) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 1) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Current:
Federal	$ 14,227	$ 15,791	$ 585
State	785	1,874	(570)
Foreign	19,716	17,628	16,019
Current income taxes	34,728	35,293	16,034
Deferred:
Federal	51,828	13,897	(81,597)
State	1,121	(761)	(1,415)
Deferred income taxes	48,073	8,276	(74,704)
Federal	51,828	13,897	(81,597)
State	1,121	(761)	(1,415)
Foreign	(1,873)	(2,998)	(1,169)
Deferred Income Taxes	51,076	10,138	(84,181)
Income tax	$ 85,804	$ 45,431	$ (68,147)

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 2) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Income tax expense (benefit) differs from the amounts computed by applying the U.S. Federal income tax rate of 35% to income (loss) before income taxes
Computed expected tax expense (benefit)	$ 85,818	$ 46,052	$ (66,040)
Increase (decrease) resulting from State and foreign income taxes	(2,106)	1,839	(4,026)
Other	2,092	(2,460)	1,919
Income tax	$ 85,804	$ 45,431	$ (68,147)

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to pretax Income or Loss from continuing operations; income tax expense or benefit may include interest and penalties on tax uncertainties based on the entity's accounting policy.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 15, 16, 19
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45, 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=6907571&loc=d3e32247-109318

+ Details

Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Deferred tax assets:
Allowance for doubtful accounts	$ 9,054	$ 7,097
Operating loss and tax credit carryforwards	24,101	10,120
Compensation and employee benefits	28,305	29,358
Decommissioning liabilities	39,638	37,909
Deferred interest expense related to exchangeable notes		526
Other	35,005	21,626
Net deferred tax assets	136,103	106,636
Deferred tax liabilities:
Property, plant and equipment	317,033	248,453
Notes receivable	25,599	23,857
Goodwill and other intangible assets	22,432	19,555
Deferred revenue on long-term contracts	47,341	53,465
Other	21,987	14,595
Deferred tax liabilities	434,392	359,925
Net deferred tax liability	$ 298,289	$ 253,289

Income Taxes (Details 4) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Deferred tax liabilities:
Current deferred income taxes	$ 831	$ 29,353
Noncurrent deferred income taxes	297,458	223,936
Net deferred tax liability	$ 298,289	$ 253,289

- Definition

Represents the current portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A current taxable temporary difference is a difference between the tax basis and the carrying amount of a current asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, is classified according to the expected reversal date of the temporary difference.

+ References + Details

- Definition

Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference.

+ References + Details

Income Taxes (Details 5) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 5) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Activity in unrecognized tax benefits
Unrecognized tax benefits, beginning balance	$ 24,760	$ 11,013	$ 9,652
Additions based on tax positions related to current year		36	3,377
Additions based on tax positions related to prior years	871	16,607	186
Reductions based on tax positions related to prior years	(3,939)	(2,896)	(2,202)
Unrecognized tax benefits, ending balance	$ 21,692	$ 24,760	$ 11,013

Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Income Taxes (Textual) [Abstract]
U.S. Federal income tax rate on income (loss) before income taxes	35.00%	35.00%	35.00%
Net operating loss carryforwards	$ 1,800
State operating loss carryforwards	$ 60,000
Expiration dates for utilization of loss carryforwards	2020 through 2026
Annual limitation on utilization of net operating loss carryforwards	$ 600
Undistributed earnings of the Company's foreign subsidiaries	154,000
Unrecorded tax benefits	21,692	$ 24,760	$ 11,013	$ 9,652
Expected future tax benefit for the state loss carryforwards	$ 3,700

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Summary of financial information for the Company's segments
Revenues	$ 562,400	$ 537,042	$ 479,893	$ 384,997	$ 421,496	$ 402,392	$ 400,411	$ 338,744	$ 1,964,332	$ 1,563,043	$ 1,320,641
Cost of services, rentals, and sales (exclusive of items shown separately below)	293,596	285,124	250,667	217,022	240,149	216,564	211,214	180,565	1,046,409	848,492	751,530
Depreciation, depletion, amortization and accretion	67,264	$ 61,807	$ 60,020	$ 55,824	55,157	$ 53,524	$ 51,238	$ 48,178	244,915	208,097	193,992
General and administrative expenses									376,619	332,602	243,988
Reduction in value of assets											212,527
Income (loss) from operations									296,389	173,852	(81,396)
Interest expense, net of amounts capitalized									(72,994)	(56,480)	(49,702)
Interest income									6,226	5,135	926
Other income (expense)									(822)	825	571
Earnings (losses) from equity-method investments, net									16,394	8,245	(22,600)
Reduction in value of equity-method investment											(36,486)
Income (loss) from continuing operations before income taxes									245,193	131,577	(188,687)
Identifiable Assets	4,048,145				2,907,533				4,048,145	2,907,533	2,516,665
Capital expenditures									507,701	323,244	291,277
Subsea and Well Enhancement [Member]
Summary of financial information for the Company's segments
Revenues									1,353,231	1,088,336	893,765
Cost of services, rentals, and sales (exclusive of items shown separately below)									825,762	672,029	607,720
Depreciation, depletion, amortization and accretion									114,106	93,364	88,364
General and administrative expenses									254,418	223,757	152,097
Reduction in value of assets											212,527
Income (loss) from operations									158,945	99,186	(166,943)
Interest income									4,542	4,548
Other income (expense)									105
Income (loss) from continuing operations before income taxes									163,592	103,734	(166,943)
Identifiable Assets	2,863,550				1,769,813				2,863,550	1,769,813	1,377,122
Capital expenditures									286,066	150,313	99,551
Drilling Products and Services [Member]
Summary of financial information for the Company's segments
Revenues									611,101	474,707	426,876
Cost of services, rentals, and sales (exclusive of items shown separately below)									220,647	176,463	143,810
Depreciation, depletion, amortization and accretion									130,809	114,733	105,628
General and administrative expenses									122,201	108,845	91,891
Income (loss) from operations									137,444	74,666	85,547
Income (loss) from continuing operations before income taxes									137,444	74,666	85,547
Identifiable Assets	947,679				802,785				947,679	802,785	759,418
Capital expenditures									219,121	142,942	124,845
Marine [Member]
Summary of financial information for the Company's segments
Identifiable Assets	164,444				255,883				164,444	255,883	299,834
Capital expenditures									2,514	29,989	66,881
Unallocated [Member]
Summary of financial information for the Company's segments
Interest expense, net of amounts capitalized									(72,994)	(56,480)	(49,702)
Interest income									1,684	587	926
Other income (expense)									(927)	825	571
Earnings (losses) from equity-method investments, net									16,394	8,245	(22,600)
Reduction in value of equity-method investment											(36,486)
Income (loss) from continuing operations before income taxes									(55,843)	(46,823)	(107,291)
Identifiable Assets	$ 72,472				$ 79,052				$ 72,472	$ 79,052	$ 80,291

Segment Information (Details 1) $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
Segment Information (Details 1) $ in Thousands	Mar. 31, 2012 Liftboat	Dec. 31, 2011 USD ($)	Sep. 30, 2011 USD ($)	Jun. 30, 2011 USD ($)	Mar. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Sep. 30, 2010 USD ($)	Jun. 30, 2010 USD ($)	Mar. 31, 2010 USD ($)	Dec. 31, 2011 USD ($) Liftboat	Dec. 31, 2010 USD ($)	Dec. 31, 2009 USD ($) Segment
Company's information by geographic area
United States, Revenue										$ 1,438,138	$ 1,134,938	$ 1,030,149
Other Countries, Revenue										526,194	428,105	290,492
Total, Revenues		$ 562,400	$ 537,042	$ 479,893	$ 384,997	$ 421,496	$ 402,392	$ 400,411	$ 338,744	1,964,332	1,563,043	$ 1,320,641
United States, Long-lived assets		1,060,483				881,416				1,060,483	881,416
Other Countries, Long-lived assets		446,885				431,734				446,885	431,734
Total, Long-lived assets		$ 1,507,368				$ 1,313,150				$ 1,507,368	$ 1,313,150
Segment Reporting (Textual) [Abstract]
Numbers of liftboats sold \| Liftboat	18									7
Number of segment renamed \| Segment												2

Guarantee (Details Textual) - USD ($) $ in Millions	Dec. 31, 2011	Dec. 31, 2010
Guarantee (Textual) [Abstract]
Decommissioning performance guarantees, estimated value	$ 2.6	$ 2.6
Maximum potential obligation under Decommissioning performance guarantees	158.7
Contractual right to receive payments from third parties	$ 24.6

Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Commitments and Contingencies (Textual) [Abstract]
Total rent expense related to operating lease	$ 18.3	$ 15.1	$ 12.0
Future minimum lease payments under non cancelable lease in 2012	20.7
Future minimum lease payments under non cancelable lease in 2013	17.0
Future minimum lease payments under non cancelable lease in 2014	14.3
Future minimum lease payments under non cancelable lease in 2015	10.8
Future minimum lease payments under non cancelable lease in 2016	9.1
Future minimum lease payments under non cancelable lease in thereafter	$ 30.7

Fair Value Measurements (Details) - USD ($) $ in Thousands	12 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets			$ 0
Fair value measurements used in testing the impairment of long-lived assets
Property, plant and equipment, net	$ 134,000	$ 0	107,591
Fair value measurement at reporting date using	(35,762)	(32,004)	(119,844)
Reduction in value of assets	(46,096)	(32,004)	(212,527)
Intangible and other long-term assets			0
Impairment of Intangible and other Long Term Assets, Net			(92,683)
Goodwill, Fair Value Disclosure	0
Write down of goodwill	(10,334)	0	0
Equity Method Investments, Fair Value Disclosure			0
Reduction in value of equity-method investments			36,486
Level 1 [Member]
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets			0
Fair value measurements used in testing the impairment of long-lived assets
Property, plant and equipment, net	0	0	0
Intangible and other long-term assets			0
Goodwill, Fair Value Disclosure	0
Equity Method Investments, Fair Value Disclosure			0
Level 2 [Member]
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets			0
Fair value measurements used in testing the impairment of long-lived assets
Property, plant and equipment, net	0	0	0
Intangible and other long-term assets			0
Goodwill, Fair Value Disclosure	0
Equity Method Investments, Fair Value Disclosure			0
Level 3 [Member]
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets			0
Fair value measurements used in testing the impairment of long-lived assets
Property, plant and equipment, net	134,000	0	107,591
Intangible and other long-term assets			0
Goodwill, Fair Value Disclosure	0
Equity Method Investments, Fair Value Disclosure			$ 0
Fair Value, Measurements, Recurring [Member] \| Interest Rate Swap [Member]
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets	1,904	161
Fair value measurements used in testing the impairment of long-lived assets
Intangible and other long-term assets	1,904	161
Fair Value, Measurements, Recurring [Member] \| Non-qualified deferred compensation assets [Member]
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets	10,597	10,820
Fair value measurements used in testing the impairment of long-lived assets
Intangible and other long-term assets	10,597	10,820
Fair Value, Measurements, Recurring [Member] \| Non-qualified deferred compensation liabilities [Member]
Summary of financial assets measured at fair value on recurring basis
Accounts payable	2,790	2,953
Other long-term liabilities	12,975	14,236
Fair Value, Measurements, Recurring [Member] \| Level 1 [Member] \| Interest Rate Swap [Member]
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets	0	0
Fair value measurements used in testing the impairment of long-lived assets
Intangible and other long-term assets	0	0
Fair Value, Measurements, Recurring [Member] \| Level 1 [Member] \| Non-qualified deferred compensation assets [Member]
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets	815	812
Fair value measurements used in testing the impairment of long-lived assets
Intangible and other long-term assets	815	812
Fair Value, Measurements, Recurring [Member] \| Level 1 [Member] \| Non-qualified deferred compensation liabilities [Member]
Summary of financial assets measured at fair value on recurring basis
Accounts payable	0	1,429
Other long-term liabilities	0	0
Fair Value, Measurements, Recurring [Member] \| Level 2 [Member] \| Interest Rate Swap [Member]
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets	1,904	161
Fair value measurements used in testing the impairment of long-lived assets
Intangible and other long-term assets	1,904	161
Fair Value, Measurements, Recurring [Member] \| Level 2 [Member] \| Non-qualified deferred compensation assets [Member]
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets	9,782	10,008
Fair value measurements used in testing the impairment of long-lived assets
Intangible and other long-term assets	9,782	10,008
Fair Value, Measurements, Recurring [Member] \| Level 2 [Member] \| Non-qualified deferred compensation liabilities [Member]
Summary of financial assets measured at fair value on recurring basis
Accounts payable	2,790	1,524
Other long-term liabilities	12,975	14,236
Fair Value, Measurements, Recurring [Member] \| Level 3 [Member] \| Interest Rate Swap [Member]
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets	0	0
Fair value measurements used in testing the impairment of long-lived assets
Intangible and other long-term assets	0	0
Fair Value, Measurements, Recurring [Member] \| Level 3 [Member] \| Non-qualified deferred compensation assets [Member]
Summary of financial assets measured at fair value on recurring basis
Intangible and other long-term assets	0	0
Fair value measurements used in testing the impairment of long-lived assets
Intangible and other long-term assets	0	0
Fair Value, Measurements, Recurring [Member] \| Level 3 [Member] \| Non-qualified deferred compensation liabilities [Member]
Summary of financial assets measured at fair value on recurring basis
Accounts payable	0	0
Other long-term liabilities	$ 0	$ 0

Fair Value Measurements (Details Textual) $ in Thousands	3 Months Ended	12 Months Ended
Fair Value Measurements (Details Textual) $ in Thousands	Dec. 31, 2010 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($) Liftboat	Dec. 31, 2009 USD ($)	Mar. 31, 2010 USD ($)
Schedule of Equity Method Investments [Line Items]
Reduction in value of equity-method investments				$ 36,486
Fair Value Measurements (Textual) [Abstract]
Interest rate swap agreement for a notional amount		$ 150,000			$ 150,000
Percentage of semi annual interest to be received at Fixed Rate					6.875%
Derivative Instrument, Interest Rate Adjustment Interval					90 days
Amount of liftboat components wrote off on long lived assets		46,100
Amount of liftboat components wrote off	$ 32,000	35,800	$ 32,000
Number Of Partially Completed Foot Class Liftboats \| Liftboat			2
Impairment of Long-Lived Assets Held-for-use		$ (35,762)	$ (32,004)	(119,844)
Beryl Oil and Gas LP [Member]
Schedule of Equity Method Investments [Line Items]
Reduction in value of equity-method investments				$ 36,500

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Location and effect of the derivative instrument on the statements of operations
Amount of gain (loss) recognized	$ (1,743)	$ (161)
Hedged Item - Debt [Member] \| Interest Expense, Net [Member]
Location and effect of the derivative instrument on the statements of operations
Amount of gain (loss) recognized	(2,536)	1,581
Interest Rate Swap [Member] \| Interest Expense, Net [Member]
Location and effect of the derivative instrument on the statements of operations
Amount of gain (loss) recognized	$ 793	$ (1,742)

- Definition

The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments.

+ References + Details

Derivative Financial Instruments (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2010	Dec. 31, 2011	Dec. 31, 2010
Derivative Financial Instruments (Textual) [Abstract]
Unsecured senior notes maturing in 2014		$ 1,687,546
Amount of debt converted from fixed rate to floating rate	$ 150,000
Termination date of Swap agreement	Jun. 01, 2014
Interest income related to the ineffectiveness associated with the fair value hedge		1,700	$ 200
Unsecured senior notes due 2014 [Member]
Derivative Financial Instruments (Textual) [Abstract]
Unsecured senior notes maturing in 2014		$ 300,000
Stated interest rate on unsecured senior notes		6.875%
Intangible and other long-term assets [Member]
Derivative Financial Instruments (Textual) [Abstract]
Derivative asset		$ 1,900	$ 200

Financial Information of Guarantor Subsidiaries (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Current assets:
Cash and cash equivalents	$ 80,274	$ 50,727	$ 206,505	$ 44,853
Accounts receivable, net	540,602	452,450
Prepaid expenses	34,037	25,828
Inventory and other current assets	228,309	235,047
Total current assets	883,222	764,052
Property, plant and equipment, net	1,507,368	1,313,150
Goodwill	581,379	588,000	482,480
Notes receivable	73,568	69,026
Equity-method investments	72,472	59,322
Intangible and other long-term assets, net	930,136	113,983
Total assets	4,048,145	2,907,533	2,516,665
Current liabilities:
Accounts payable	178,645	110,276
Accrued expenses	197,574	162,044
Income taxes payable	717	2,475
Deferred income taxes	831	29,353
Current portion of decommissioning liabilities	14,956	16,929
Current maturities of long-term debt	810	184,810
Total current liabilities	393,533	505,887
Deferred income taxes	297,458	223,936
Decommissioning liabilities	108,220	100,787
Long-term debt, net	1,685,087	681,635
Other long-term liabilities	110,248	114,737
Stockholders' equity:
Preferred stock of $.01 par value
Common stock of $.001 par value	80	79
Additional paid in capital	447,007	415,278
Accumulated other comprehensive income (loss), net	(26,936)	(25,700)
Retained earnings (accumulated deficit)	1,033,448	890,894
Total stockholders' equity	1,453,599	1,280,551	1,178,045	1,254,273
Total liabilities and stockholders' equity	4,048,145	2,907,533
Parent [Member]
Current assets:
Prepaid expenses	34	18
Total current assets	34	18
Investments in subsidiaries	1,650,049	1,433,087
Total assets	1,650,083	1,433,105
Current liabilities:
Accrued expenses	164	153
Income taxes payable	1,415	4,499
Deferred income taxes	831	29,353
Total current liabilities	2,410	34,005
Deferred income taxes	285,871	211,173
Intercompany payables/(receivables)	(96,989)	(100,884)
Other long-term liabilities	5,192	8,260
Stockholders' equity:
Common stock of $.001 par value	80	79
Additional paid in capital	447,007	415,278
Accumulated other comprehensive income (loss), net	(26,936)	(25,700)
Retained earnings (accumulated deficit)	1,033,448	890,894
Total stockholders' equity	1,453,599	1,280,551
Total liabilities and stockholders' equity	1,650,083	1,433,105
Issuer [Member]
Current assets:
Cash and cash equivalents	29,057	0	171,903	10,871
Accounts receivable, net	531	415
Prepaid expenses	3,893	4,128
Inventory and other current assets	1,796	1,678
Intercompany interest receivable		15,883
Total current assets	35,277	22,104
Property, plant and equipment, net	2,758	3,189
Intercompany notes receivable		456,280
Investments in subsidiaries	2,833,659	2,058,552
Equity-method investments	70,614	43,947
Intangible and other long-term assets, net	828,447	22,455
Total assets	3,770,755	2,606,527
Current liabilities:
Accounts payable	4,307	6,654
Accrued expenses	54,000	42,821
Current maturities of long-term debt		184,000
Total current liabilities	58,307	233,475
Long-term debt, net	1,673,351	669,089
Intercompany payables/(receivables)	356,668	233,339
Other long-term liabilities	32,380	37,537
Stockholders' equity:
Additional paid in capital	124,271	124,271
Accumulated other comprehensive income (loss), net	(26,936)	(25,700)
Retained earnings (accumulated deficit)	1,552,714	1,334,516
Total stockholders' equity	1,650,049	1,433,087
Total liabilities and stockholders' equity	3,770,755	2,606,527
Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	6,272	5,493	4,871	5,857
Accounts receivable, net	437,963	382,935
Prepaid expenses	9,796	8,948
Inventory and other current assets	214,381	222,822
Total current assets	668,412	620,198
Property, plant and equipment, net	1,096,036	957,561
Goodwill	437,614	447,467
Notes receivable	73,568	69,026
Investments in subsidiaries	20,062	21,788
Intangible and other long-term assets, net	71,625	61,722
Total assets	2,367,317	2,177,762
Current liabilities:
Accounts payable	128,996	71,790
Accrued expenses	105,512	91,451
Current portion of decommissioning liabilities	14,956	16,929
Total current liabilities	249,464	180,170
Decommissioning liabilities	108,220	100,787
Intercompany payables/(receivables)	(253,053)	(1,410)
Other long-term liabilities	26,704	19,427
Stockholders' equity:
Preferred stock of $.01 par value		4,347
Retained earnings (accumulated deficit)	2,235,982	(1,874,441)
Total stockholders' equity	2,235,982	1,878,788
Total liabilities and stockholders' equity	2,367,317	2,177,762
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	44,945	45,234	$ 29,731	$ 28,125
Accounts receivable, net	143,444	99,010
Income taxes receivable	698	2,024
Prepaid expenses	20,314	12,734
Inventory and other current assets	12,132	10,547
Total current assets	221,533	169,549
Property, plant and equipment, net	408,574	352,400
Goodwill	143,765	140,533
Investments in subsidiaries		4,347
Equity-method investments	1,858	15,375
Intangible and other long-term assets, net	30,064	29,806
Total assets	805,794	712,010
Current liabilities:
Accounts payable	86,723	64,636
Accrued expenses	38,503	27,619
Current maturities of long-term debt	810	810
Intercompany interest payable		15,883
Total current liabilities	126,036	108,948
Deferred income taxes	11,587	12,763
Long-term debt, net	11,736	12,546
Intercompany notes payable		456,280
Intercompany payables/(receivables)	(7,276)	(125,246)
Other long-term liabilities	45,972	49,513
Stockholders' equity:
Preferred stock of $.01 par value		4,347
Common stock of $.001 par value	4,212	176
Additional paid in capital	517,209	66,762
Accumulated other comprehensive income (loss), net	(26,936)	(25,700)
Retained earnings (accumulated deficit)	123,254	151,621
Total stockholders' equity	617,739	197,206
Total liabilities and stockholders' equity	805,794	712,010
Consolidation, Eliminations [Member]
Current assets:
Accounts receivable, net	(41,336)	(29,910)
Income taxes receivable	(698)	(2,024)
Intercompany interest receivable		(15,883)
Total current assets	(42,034)	(47,817)
Intercompany notes receivable		(456,280)
Investments in subsidiaries	(4,503,770)	(3,517,774)
Total assets	(4,545,804)	(4,021,871)
Current liabilities:
Accounts payable	(41,381)	(32,804)
Accrued expenses	(605)
Income taxes payable	(698)	(2,024)
Intercompany interest payable		(15,883)
Total current liabilities	(42,684)	(50,711)
Intercompany notes payable		(456,280)
Intercompany payables/(receivables)	650	(5,799)
Stockholders' equity:
Preferred stock of $.01 par value		(8,694)
Common stock of $.001 par value	(4,212)	(176)
Additional paid in capital	(641,480)	(191,033)
Accumulated other comprehensive income (loss), net	53,872	51,400
Retained earnings (accumulated deficit)	(3,911,950)	(3,360,578)
Total stockholders' equity	(4,503,770)	(3,509,081)
Total liabilities and stockholders' equity	$ (4,545,804)	$ (4,021,871)

Financial Information of Guarantor Subsidiaries (Details 1) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Financial Information Related to Subsidiaries
Revenues	$ 562,400	$ 537,042	$ 479,893	$ 384,997	$ 421,496	$ 402,392	$ 400,411	$ 338,744	$ 1,964,332	$ 1,563,043	$ 1,320,641
Cost of services, rentals, and sales (exclusive of items shown separately below)	293,596	285,124	250,667	217,022	240,149	216,564	211,214	180,565	1,046,409	848,492	751,530
Depreciation, depletion, amortization and accretion	$ 67,264	$ 61,807	$ 60,020	$ 55,824	$ 55,157	$ 53,524	$ 51,238	$ 48,178	244,915	208,097	193,992
General and administrative expenses									376,619	332,602	243,988
Reduction in value of assets											212,527
Income (loss) from operations									296,389	173,852	(81,396)
Other income (expense):
Interest expense, net of amounts capitalized									(72,994)	(56,480)	(49,702)
Interest income									6,226	5,135	926
Intercompany interest income (expense)									0
Other income (expense)									(822)	825	571
Earnings (losses) from equity-method investments, net									16,394	8,245	(22,600)
Reduction in value of equity-method investment											(36,486)
Income (loss) from continuing operations before income taxes									245,193	131,577	(188,687)
Income taxes									85,804	45,431	(68,147)
Net income (loss) from continuing operations									159,389	86,146	(120,540)
Discontinued operations, net of income tax									(16,835)	(4,329)	18,217
Net income (loss)									142,554	81,817	(102,323)
Parent [Member]
Financial Information Related to Subsidiaries
General and administrative expenses									683	322	(184)
Income (loss) from operations									(683)	(322)	184
Other income (expense):
Earnings (losses) from consolidated subsidiaries									218,198	119,801	(168,312)
Income (loss) from continuing operations before income taxes									217,515	119,479	(168,128)
Income taxes									81,533	39,722	(76,443)
Net income (loss) from continuing operations									135,982	79,757	(91,685)
Discontinued operations, net of income tax									6,572	2,060	(10,638)
Net income (loss)									142,554	81,817	(102,323)
Issuer [Member]
Financial Information Related to Subsidiaries
Depreciation, depletion, amortization and accretion									523	515	476
General and administrative expenses									79,672	98,220	60,013
Income (loss) from operations									(80,195)	(98,735)	(60,489)
Other income (expense):
Interest expense, net of amounts capitalized									(72,414)	(53,716)	(48,707)
Interest income									1,097	150	87
Intercompany interest income (expense)									26,673	15,883
Other income (expense)									(1,005)	825	571
Earnings (losses) from consolidated subsidiaries									330,553	255,257	(448)
Earnings (losses) from equity-method investments, net									15,180	985	(21,631)
Reduction in value of equity-method investment											(36,486)
Income (loss) from continuing operations before income taxes									219,889	120,649	(167,103)
Net income (loss) from continuing operations									219,889	120,649	(167,103)
Discontinued operations, net of income tax									(1,691)	(848)	(1,209)
Net income (loss)									218,198	119,801	(168,312)
Guarantor Subsidiaries [Member]
Financial Information Related to Subsidiaries
Revenues									1,624,945	1,295,946	1,178,883
Cost of services, rentals, and sales (exclusive of items shown separately below)									817,551	687,519	688,766
Depreciation, depletion, amortization and accretion									200,614	169,528	171,902
General and administrative expenses									230,972	181,234	154,376
Reduction in value of assets											212,527
Income (loss) from operations									375,808	257,665	(48,688)
Other income (expense):
Interest expense, net of amounts capitalized									(43)	(216)
Interest income									4,536	4,459	670
Other income (expense)									183
Earnings (losses) from consolidated subsidiaries									2,621	3,555	2,911
Income (loss) from continuing operations before income taxes									383,105	265,463	(45,107)
Net income (loss) from continuing operations									383,105	265,463	(45,107)
Discontinued operations, net of income tax									(21,564)	(5,387)	30,147
Net income (loss)									361,541	260,076	(14,960)
Non-Guarantor Subsidiaries [Member]
Financial Information Related to Subsidiaries
Revenues									406,843	337,526	185,048
Cost of services, rentals, and sales (exclusive of items shown separately below)									295,998	231,082	106,054
Depreciation, depletion, amortization and accretion									43,778	38,054	21,614
General and administrative expenses									65,608	53,146	29,783
Income (loss) from operations									1,459	15,244	27,597
Other income (expense):
Interest expense, net of amounts capitalized									(537)	(2,548)	(995)
Interest income									593	526	169
Intercompany interest income (expense)									(26,673)	(15,883)
Earnings (losses) from equity-method investments, net									1,214	7,260	(969)
Income (loss) from continuing operations before income taxes									(23,944)	4,599	25,802
Income taxes									4,271	5,709	8,296
Net income (loss) from continuing operations									(28,215)	(1,110)	17,506
Discontinued operations, net of income tax									(152)	(154)	(83)
Net income (loss)									(28,367)	(1,264)	17,423
Consolidation, Eliminations [Member]
Financial Information Related to Subsidiaries
Revenues									(67,456)	(72,136)	(43,290)
Cost of services, rentals, and sales (exclusive of items shown separately below)									(67,140)	(71,816)	(43,290)
General and administrative expenses									(316)	(320)
Other income (expense):
Earnings (losses) from consolidated subsidiaries									(551,372)	(378,613)	165,849
Income (loss) from continuing operations before income taxes									(551,372)	(378,613)	165,849
Net income (loss) from continuing operations									(551,372)	(378,613)	165,849
Net income (loss)									$ (551,372)	$ (378,613)	$ 165,849

Financial Information of Guarantor Subsidiaries (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Financial Information Related to Subsidiaries
Net income (loss)	$ 142,554	$ 81,817	$ (102,323)
Disposition of hedging positions of equity-method investments, net of tax			(3,881)
Change in cumulative translation adjustment	(1,236)	(6,704)	17,526
Comprehensive income (loss)	141,318	75,113	(88,678)
Parent [Member]
Financial Information Related to Subsidiaries
Net income (loss)	142,554	81,817	(102,323)
Change in cumulative translation adjustment	(1,236)	(6,704)	17,526
Comprehensive income (loss)	141,318	75,113	(84,797)
Issuer [Member]
Financial Information Related to Subsidiaries
Net income (loss)	218,198	119,801	(168,312)
Disposition of hedging positions of equity-method investments, net of tax			(3,881)
Change in cumulative translation adjustment	(1,236)	(6,704)	17,526
Comprehensive income (loss)	216,962	113,097	(154,667)
Guarantor Subsidiaries [Member]
Financial Information Related to Subsidiaries
Net income (loss)	361,541	260,076	(14,960)
Comprehensive income (loss)	361,541	260,076	(14,960)
Non-Guarantor Subsidiaries [Member]
Financial Information Related to Subsidiaries
Net income (loss)	(28,367)	(1,264)	17,423
Change in cumulative translation adjustment	(1,236)	(6,704)	17,526
Comprehensive income (loss)	(29,603)	(7,968)	34,949
Consolidation, Eliminations [Member]
Financial Information Related to Subsidiaries
Net income (loss)	(551,372)	(378,613)	165,849
Change in cumulative translation adjustment	2,472	13,408	(35,052)
Comprehensive income (loss)	$ (548,900)	$ (365,205)	$ 130,797

Financial Information of Guarantor Subsidiaries (Details 3) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2009	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash flows from operating activities:
Net income (loss)		$ 142,554	$ 81,817	$ (102,323)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion		257,313	220,835	207,114
Deferred income taxes		48,073	8,276	(74,704)
Excess tax benefit from stock-based compensation		(9,004)	(560)	(170)
Reduction in value of assets		46,096	32,004	212,527
Reduction in value of equity-method investments				36,486
Stock based and performance share unit compensation expense		14,032	27,207	11,785
Retirement and deferred compensation plans expense		1,990	4,825	1,550
(Earnings) losses from equity-method investments, net of cash received		(13,152)	2,905	28,606
Amortization of debt acquisition costs and note discount		25,178	23,954	21,744
Gain on sale of businesses		(8,558)	(1,083)	(2,084)
Other reconciling items, net		(6,426)	(4,708)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable		(86,814)	(89,800)	25,609
Inventory and other current assets		2,182	85,687	(51,320)
Accounts payable		40,289	20,303	(24,637)
Accrued expenses		24,961	14,754	(41,264)
Decommissioning liabilities		(504)	(1,759)
Income taxes		(1,378)	10,510	(2,301)
Other, net		15,972	20,806	29,485
Net cash provided by operating activities		492,804	455,973	276,103
Cash flows from investing activities:
Payments for capital expenditures		(484,648)	(323,244)	(286,277)
Change in restricted cash held for acquisition of a business		(785,280)
Purchases of short-term investments		(223,491)
Proceeds from sale of short-term investments		223,630
Acquisitions of businesses, net of cash acquired		(1,748)	(276,077)	(1,247)
Proceeds from sale of businesses	$ 7,700	22,349	5,250	7,716
Cash contributed to equity-method investment				(8,694)
Other		(721)	(9,402)	(3,769)
Net cash used in investing activities		(1,249,909)	(603,473)	(292,271)
Cash flows from financing activities:
Net (payments) borrowings from revolving line of credit		(100,000)	(2,000)	177,000
Proceeds from issuance of long-term debt		1,300,000
Principal payments of long-term debt		(400,810)	(810)	(810)
Payment of debt issuance costs		(24,428)	(5,182)	(2,308)
Proceeds from exercise of stock options		10,263	927	375
Excess tax benefit from stock-based compensation		9,004	560	170
Proceeds from issuance of stock through employee benefit plans		2,206	1,891	1,958
Purchase and retirement of stock				0
Other		(9,662)	(3,443)
Net cash used in financing activities		786,573	(8,057)	176,385
Effect of exchange rate changes on cash		79	(221)	1,435
Net increase (decrease) in cash and cash equivalents		29,547	(155,778)	161,652
Cash and cash equivalents at beginning of year		50,727	206,505	44,853
Cash and cash equivalents at end of year	206,505	80,274	50,727	206,505
Parent [Member]
Cash flows from operating activities:
Net income (loss)		142,554	81,817	(102,323)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Deferred income taxes		49,946	10,650	(73,297)
Excess tax benefit from stock-based compensation		(9,004)	(560)	(170)
Earnings (losses) from consolidated subsidiaries		(218,198)	(119,801)	168,312
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accrued expenses		12	38	(469)
Income taxes		(917)	13,536	4,270
Other, net		(16)	(1,417)	1,970
Net cash provided by operating activities		(35,623)	(15,737)	(1,537)
Cash flows from investing activities:
Intercompany receivables/payables		14,485	12,359	(966)
Net cash used in investing activities		14,485	12,359	(966)
Cash flows from financing activities:
Principal payments of long-term debt				0
Proceeds from exercise of stock options		10,263	927	375
Excess tax benefit from stock-based compensation		9,004	560	170
Proceeds from issuance of stock through employee benefit plans		2,206	1,891	1,958
Other		(335)
Net cash used in financing activities		21,138	3,378	2,503
Issuer [Member]
Cash flows from operating activities:
Net income (loss)		218,198	119,801	(168,312)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion		523	515	476
Reduction in value of equity-method investments				36,486
Stock based and performance share unit compensation expense		14,032	27,207	11,785
Retirement and deferred compensation plans expense		1,990	4,825	1,550
Earnings (losses) from consolidated subsidiaries		(330,553)	(255,257)	448
(Earnings) losses from equity-method investments, net of cash received		(12,001)	9,005	27,637
Amortization of debt acquisition costs and note discount		25,154	23,954	21,744
Other reconciling items, net		(1,884)	(161)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable		(117)	275	(156)
Inventory and other current assets		(117)	163	(211)
Accounts payable		(2,348)	2,001	609
Accrued expenses		7,983	5,800	(13,381)
Other, net		(1,024)	(3,143)	6,925
Net cash provided by operating activities		(80,164)	(65,015)	(74,400)
Cash flows from investing activities:
Payments for capital expenditures		(93)
Change in restricted cash held for acquisition of a business		(785,280)
Purchases of short-term investments		(223,491)
Proceeds from sale of short-term investments		223,630
Other			2,387	(3,769)
Intercompany receivables/payables		125,015	(102,093)	64,509
Net cash used in investing activities		(660,219)	(99,706)	60,740
Cash flows from financing activities:
Net (payments) borrowings from revolving line of credit		(100,000)	(2,000)	177,000
Proceeds from issuance of long-term debt		1,300,000
Principal payments of long-term debt		(400,000)
Payment of debt issuance costs		(24,428)	(5,182)	(2,308)
Purchase and retirement of stock				0
Other		(6,132)
Net cash used in financing activities		769,440	(7,182)	174,692
Net increase (decrease) in cash and cash equivalents		29,057	(171,903)	161,032
Cash and cash equivalents at beginning of year		0	171,903	10,871
Cash and cash equivalents at end of year	171,903	29,057	0	171,903
Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)		361,541	260,076	(14,960)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion		211,988	181,216	184,084
Reduction in value of assets		46,096	32,004
Earnings (losses) from consolidated subsidiaries		(2,621)	(3,555)	(2,911)
Gain on sale of businesses		(8,558)	(1,083)	(2,084)
Other reconciling items, net		(4,542)	(4,547)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable		(51,133)	(76,669)	19,940
Inventory and other current assets		5,348	89,302	(48,786)
Accounts payable		26,499	18,928	(27,786)
Accrued expenses		11,801	1,735	(27,381)
Decommissioning liabilities		(504)	(1,759)
Other, net		18,646	21,280	17,493
Net cash provided by operating activities		614,561	516,928	310,136
Cash flows from investing activities:
Payments for capital expenditures		(383,785)	(218,726)	(240,907)
Acquisitions of businesses, net of cash acquired		(1,200)	(56,560)	(1,247)
Proceeds from sale of businesses		22,349	5,250	7,716
Other		(721)	(11,537)
Intercompany receivables/payables		(250,425)	(234,733)	(76,684)
Net cash used in investing activities		(613,782)	(516,306)	(311,122)
Cash flows from financing activities:
Purchase and retirement of stock				0
Net increase (decrease) in cash and cash equivalents		779	622	(986)
Cash and cash equivalents at beginning of year		5,493	4,871	5,857
Cash and cash equivalents at end of year	4,871	6,272	5,493	4,871
Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)		(28,367)	(1,264)	17,423
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion		44,802	39,104	22,554
Deferred income taxes		(1,873)	(2,374)	(1,577)
(Earnings) losses from equity-method investments, net of cash received		(1,151)	(6,100)	969
Amortization of debt acquisition costs and note discount		24
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable		(35,564)	(13,406)	5,825
Inventory and other current assets		(3,049)	(3,778)	(2,323)
Accounts payable		16,138	(626)	2,540
Accrued expenses		5,165	7,181	(33)
Income taxes		(461)	(3,026)	(6,571)
Other, net		(1,634)	4,086	3,097
Net cash provided by operating activities		(5,970)	19,797	41,904
Cash flows from investing activities:
Payments for capital expenditures		(100,770)	(104,518)	(45,370)
Acquisitions of businesses, net of cash acquired		(548)	(219,517)
Cash contributed to equity-method investment				(8,694)
Other			(252)	0
Intercompany receivables/payables		110,925	324,467	13,141
Net cash used in investing activities		9,607	180	(40,923)
Cash flows from financing activities:
Principal payments of long-term debt		(810)	(810)	(810)
Purchase and retirement of stock				0
Other		(3,195)	(3,443)
Net cash used in financing activities		(4,005)	(4,253)	(810)
Effect of exchange rate changes on cash		79	(221)	1,435
Net increase (decrease) in cash and cash equivalents		(289)	15,503	1,606
Cash and cash equivalents at beginning of year		45,234	29,731	28,125
Cash and cash equivalents at end of year	$ 29,731	44,945	45,234	29,731
Consolidation, Eliminations [Member]
Cash flows from operating activities:
Net income (loss)		(551,372)	(378,613)	165,849
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Earnings (losses) from consolidated subsidiaries		$ 551,372	$ 378,613	$ (165,849)

Financial Information of Guarantor Subsidiaries (Details Textual) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2011	Apr. 30, 2011	Dec. 31, 2010
Financial Information Related to Guarantor Subsidiaries (Textual) [Abstract]
Common stock, par value	$ 0.001		$ 0.001
Preferred stock, par value	0.01		0.01
Parent [Member]
Financial Information Related to Guarantor Subsidiaries (Textual) [Abstract]
Common stock, par value	0.001		0.001
Preferred stock, par value	0.01		0.01
Issuer [Member]
Financial Information Related to Guarantor Subsidiaries (Textual) [Abstract]
Common stock, par value	0.001		0.001
Preferred stock, par value	0.01		0.01
Guarantor Subsidiaries [Member]
Financial Information Related to Guarantor Subsidiaries (Textual) [Abstract]
Common stock, par value	0.001		0.001
Preferred stock, par value	0.01		0.01
Non-Guarantor Subsidiaries [Member]
Financial Information Related to Guarantor Subsidiaries (Textual) [Abstract]
Common stock, par value	0.001		0.001
Preferred stock, par value	0.01		0.01
Consolidation, Eliminations [Member]
Financial Information Related to Guarantor Subsidiaries (Textual) [Abstract]
Common stock, par value	0.001		0.001
Preferred stock, par value	$ 0.01		$ 0.01
Unsecured senior notes due 2019 [Member]
Financial Information Related to Guarantor Subsidiaries (Textual) [Abstract]
Unsecured senior notes, issued		$ 500
Stated interest rate on unsecured senior notes	6.375%	6.375%
Unsecured senior notes due 2021 [Member]
Financial Information Related to Guarantor Subsidiaries (Textual) [Abstract]
Unsecured senior notes, issued	$ 800
Stated interest rate on unsecured senior notes	7.125%

Interim Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Consolidated interim financial information
Revenues	$ 562,400	$ 537,042	$ 479,893	$ 384,997	$ 421,496	$ 402,392	$ 400,411	$ 338,744	$ 1,964,332	$ 1,563,043	$ 1,320,641
Less:
Cost of services, rentals and sales	293,596	285,124	250,667	217,022	240,149	216,564	211,214	180,565	1,046,409	848,492	751,530
Depreciation, depletion, amortization and accretion	67,264	61,807	60,020	55,824	55,157	53,524	51,238	48,178	244,915	208,097	193,992
Gross Profit	201,540	190,111	169,206	112,151	126,190	132,304	137,959	110,001
Net income from continuing operations	$ 53,338	$ 54,799	$ 41,375	$ 9,877	$ 16,014	$ 25,809	$ 23,949	$ 20,374	$ 159,389	$ 86,146	$ (120,540)
Earnings per share from continuing operations:
Basic	$ 0.67	$ 0.69	$ 0.52	$ 0.12	$ 0.20	$ 0.33	$ 0.30	$ 0.26	$ 2.00	$ 1.09	$ (1.54)
Diluted	$ 0.67	$ 0.67	$ 0.51	$ 0.12	$ 0.20	$ 0.32	$ 0.30	$ 0.26	$ 1.97	$ 1.08	$ (1.54)

Supplementary Oil and Natural Gas Disclosures (Unaudited) (Details)	12 Months Ended
	Dec. 31, 2011 MMcf MMBbls	Dec. 31, 2010 MMcf MMBbls USD ($)
Crude Oil (Mbbls) [Member]
Proved Developed and Undeveloped Reserves [Abstract]
Proved Developed and Undeveloped Reserves, Net, Beginning Balance \| MMBbls	5,982	0
Purchase of reserves in place \| MMBbls		5,686
Revisions \| MMBbls	887	723
Production \| MMBbls	(439)	(427)
Proved Developed and Undeveloped Reserves, Net, Ending Balance \| MMBbls	6,430	5,982
Proved-developed reserves:
Proved Developed Reserves \| MMBbls	3,495	4,166
Proved-undeveloped reserves:
Proved Undeveloped Reserves \| MMBbls	2,935	1,817
Natural Gas (Mmcf) [Member]
Proved Developed and Undeveloped Reserves [Abstract]
Proved Developed and Undeveloped Reserves, Net, Beginning Balance	5,301	0
Purchase of reserves in place		4,377
Revisions	1,338	1,572
Production	(371)	(648)
Proved Developed and Undeveloped Reserves, Net, Ending Balance	6,268	5,301
Proved-developed reserves:
Proved Developed Reserves	3,229	3,848
Proved-undeveloped reserves:
Proved Undeveloped Reserves	3,039	1,453
Company's Share of Equity-Method Investments [Member] \| Crude Oil (Mbbls) [Member]
Proved Developed and Undeveloped Reserves [Abstract]
Proved Developed and Undeveloped Reserves, Net, Beginning Balance \| MMBbls	3,395	3,242
Purchase of reserves in place \| MMBbls	958	34
Revisions \| MMBbls	412	564
Change in ownership percentage \| $		(32)
Production \| MMBbls	(399)	(431)
Sale of reserves in-place \| MMBbls	(1,159)
Proved Developed and Undeveloped Reserves, Net, Ending Balance \| MMBbls	3,207	3,395
Proved-developed reserves:
Proved Developed Reserves \| MMBbls	2,606	2,972
Proved-undeveloped reserves:
Proved Undeveloped Reserves \| MMBbls	602	423
Company's Share of Equity-Method Investments [Member] \| Natural Gas (Mmcf) [Member]
Proved Developed and Undeveloped Reserves [Abstract]
Proved Developed and Undeveloped Reserves, Net, Beginning Balance	20,111	23,255
Purchase of reserves in place	8,045	8
Revisions	(547)	692
Extensions, discoveries and other additions		413
Change in ownership percentage \| $		(1,347)
Production	(906)	(2,910)
Sale of reserves in-place	(8,467)
Proved Developed and Undeveloped Reserves, Net, Ending Balance	18,236	20,111
Proved-developed reserves:
Proved Developed Reserves	14,695	18,228
Proved-undeveloped reserves:
Proved Undeveloped Reserves	3,542	1,885

Supplementary Oil and Natural Gas Disclosures (Unaudited) (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Costs incurred associated with finding, acquiring and developing the Company's proved oil and natural gas reserves
Acquisition of properties - proved		$ 34,336
Exploratory costs		359
Development costs	$ 10,560	30
Total costs incurred	10,560	34,725
Company's Share of Equity-Method Investments [Member]
Costs incurred associated with finding, acquiring and developing the Company's proved oil and natural gas reserves
Acquisition of properties - proved	32,586	629
Acquisition of properties - unproved		118
Development costs	18,367	9,980
Total costs incurred	$ 50,953	$ 10,727

- Definition

Costs incurred, including capitalized costs and costs charged to expense, associated with the acquisition of oil and gas properties that have proved reserves.

+ References + Details

- Definition

Costs incurred, including capitalized costs and costs charged to expense, associated with the acquisition of oil and gas properties that have unproved reserves.

+ References + Details

Supplementary Oil and Natural Gas Disclosures (Unaudited) (Details 2) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Capitalized costs for oil and gas producing activities
Proved oil and gas properties	$ 44,109	$ 34,336
Accumulated depreciation, depletion and amortization	(8,215)	(3,038)
Capitalized costs, net	35,894	31,298
Company's Share of Equity-Method Investments [Member]
Capitalized costs for oil and gas producing activities
Unproved oil and gas properties	13,559	24,097
Proved oil and gas properties	159,527	144,324
Accumulated depreciation, depletion and amortization	(52,764)	(49,849)
Capitalized costs, net	$ 120,322	$ 118,572

Supplementary Oil and Natural Gas Disclosures (Unaudited) (Details 3)	Dec. 31, 2011 Well
Company's ownership of productive oil and natural gas wells
Oil, Gross	10.00
Oil, Net	5.10
Total Productive Wells, Gross	10.00
Total Productive Wells, Net	5.10
Company's Share of Equity-Method Investments [Member]
Company's ownership of productive oil and natural gas wells
Oil, Gross	28.50
Oil, Net	18.13
Natural gas, Gross	22.70
Natural gas, Net	11.07
Total Productive Wells, Gross	51.20
Total Productive Wells, Net	29.20

Supplementary Oil and Natural Gas Disclosures (Unaudited) (Details 4)	Dec. 31, 2011 Acreage
Information relating to acreage held by the Company
Developed, Gross Acreage	17,280
Developed, Net Acreage	8,813
Total Developed and Undeveloped Gross Acreage	17,280
Total Developed and Undeveloped Net Acreage	8,813
Company's Share of Equity-Method Investments [Member]
Information relating to acreage held by the Company
Developed, Gross Acreage	69,517
Developed, Net Acreage	38,434
Undeveloped, Gross Acreage	5,560
Undeveloped, Net Acreage	4,574
Total Developed and Undeveloped Gross Acreage	75,077
Total Developed and Undeveloped Net Acreage	43,008

Supplementary Oil and Natural Gas Disclosures (Unaudited) (Details 5) - Well	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Exploratory Wells Drilled
Exploratory Wells Drilled Gross Productive	0.10
Exploratory Wells Drilled Gross Non productive	0.10
Exploratory Wells Drilled Gross Productive and Non Productive	0.20
Exploratory Wells Drilled Net of Productive	0.01
Exploratory Wells Drilled Net of Non Productive	0.07
Exploratory Wells Drilled Net Productive and Non Productive	0.08
Development Wells Drilled
Development Wells Drilled Gross Productive	0.20	0.25
Development Wells Drilled Gross Non Productive	0.10
Development Wells Drilled Gross Productive and Non Productive	0.30	0.25
Development Wells Drilled Net of Productive	0.03	0.15
Development Wells Drilled Net of Non Productive	0.02
Development Wells Drilled Net Productive and Non Productive	0.05	0.15

Supplementary Oil and Natural Gas Disclosures (Unaudited) (Details 6) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Revenues
Sales	$ 54,442	$ 39,410
Production costs	12,293	9,511
Exploration expenses		359
Depreciation, depletion and amortization	11,928	10,057
Results of operations, income before income taxes	30,221	19,483
Income tax expenses	10,880	7,014
Results of operations from producing activities (excluding corporate overhead)	19,341	12,469
Company's Share of Equity-Method Investments [Member]
Revenues
Sales	53,181	56,964
Production costs	22,034	23,375
Exploration expenses		105
Depreciation, depletion and amortization	18,449	18,557
Results of operations, income before income taxes	12,698	14,927
Income tax expenses	4,533	5,373
Results of operations from producing activities (excluding corporate overhead)	$ 8,615	$ 9,554

Supplementary Oil and Natural Gas Disclosures (Unaudited) (Details 7) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves
Future cash inflows	$ 701,170	$ 486,199
Future production costs	(126,627)	(43,392)
Future development and abandonment costs	(58,388)	(86,125)
Future income tax expenses	(185,816)	(129,262)
Future net cash flows	330,399	227,420
10% annual discount for estimated timing of cash flows	92,590	57,928
Standardized measure of discounted future net cash flows	237,749	169,492
Company's Share of Equity-Method Investments [Member]
Standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves
Future cash inflows	414,246	356,126
Future production costs	(100,848)	(83,215)
Future development and abandonment costs	(67,760)	(84,260)
Future income tax expenses	(73,202)	(66,161)
Future net cash flows	172,436	122,490
10% annual discount for estimated timing of cash flows	39,704	20,014
Standardized measure of discounted future net cash flows	$ 132,732	$ 102,476

Supplementary Oil and Natural Gas Disclosures (Unaudited) (Details 8) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Summary of changes in standardized measure of discounted future net cash flows applicable to proved oil and natural gas reserves
Beginning of the period	$ 169,492	$ 0
Net change in sales and transfer prices and in production (lifting) costs related to future production	62,881	102,726
Changes in estimated future development costs	8,297	2,950
Sales and transfers of oil and gas produced during the period	(54,057)	(29,542)
Net changes due to purchases and sales of minerals in place		70,993
Net changes due to revisions in quantity estimates	57,189	38,206
Previously estimated development costs incurred during the period	17,980	1,758
Accretion of discount	26,625	16,484
Other-unspecified	(12,650)	2,338
Net change in income taxes	(38,008)	(36,421)
Aggregate change in the standardized measure of discounted future net cash flows for the year	68,257	169,492
End of the period	237,749	169,492
Company's Share of Equity-Method Investments [Member]
Summary of changes in standardized measure of discounted future net cash flows applicable to proved oil and natural gas reserves
Beginning of the period	102,476	64,136
Net change in sales and transfer prices and in production (lifting) costs related to future production	27,944	57,626
Changes in estimated future development costs	(8,862)	(9,051)
Sales and transfers of oil and gas produced during the period	(44,268)	(32,370)
Net change due to extensions, discoveries and improved recovery		2,781
Net changes due to purchases and sales of minerals in place	51,781	(1,912)
Net changes due to revisions in quantity estimates	22,005	16,859
Previously estimated development costs incurred during the period	13,840	16,570
Exchange transaction	(23,356)
Accretion of discount	11,179	8,780
Other-unspecified	(2,065)	1,496
Net change in income taxes	(17,942)	(22,439)
Aggregate change in the standardized measure of discounted future net cash flows for the year	30,256	38,340
End of the period	$ 132,732	$ 102,476

Supplementary Oil and Natural Gas Disclosures (Unaudited) (Details Textual)	12 Months Ended
	Dec. 31, 2011 MMBTU MMcf MMBbls MMBoe	Dec. 31, 2010 MMBTU MMcf MMBbls MMBoe	Jan. 31, 2010
Average Sales Price and Production Costs Per Unit of Production [Line Items]
Average production costs per barrel of oil equivalents (BOE)	12.51	19.99
Percentage of annual discount rate for future cash flows	10.00%
Supplementary Oil and Natural Gas Disclosures (Textual) [Abstract]
Percentage of ownership acquired by Wild Well in Shell Offshore Inc.'s Gulf of Mexico Bullwinkle platform			100.00%
Conveyance of undivided interest in assets and related well plugging and abandonment obligations			49.00%
Twelve month average price on the basis of which oil price is estimated	96.19	79.40
Twelve month average price on the basis of which gas price is estimated \| MMBTU	4.118	4.38
Crude Oil [Member]
Average Sales Price and Production Costs Per Unit of Production [Line Items]
Average sales prices	108.79	77.04
Natural Gas [Member]
Average Sales Price and Production Costs Per Unit of Production [Line Items]
Average sales prices \| MMcf	3.45	5.00
Oil and Gas activities [Member]
Average Sales Price and Production Costs Per Unit of Production [Line Items]
Percentage of annual discount rate for future cash flows	10.00%
Company's Share of Equity-Method Investments [Member] \| Crude Oil [Member]
Average Sales Price and Production Costs Per Unit of Production [Line Items]
Average sales prices \| MMcf	4.40	4.78
Average production costs per barrel of oil equivalents (BOE) \| MMBoe	26.30	25.35
Company's Share of Equity-Method Investments [Member] \| Natural Gas [Member]
Average Sales Price and Production Costs Per Unit of Production [Line Items]
Average sales prices	113.28	79.21