View Filing Data

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2012	Jul. 31, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	Superior Energy Services Inc
Entity Central Index Key	0000886835
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		157,143,974
Entity Well-known Seasoned Issuer	Yes
Trading Symbol	spn
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 143,037	$ 80,274
Accounts receivable, net of allowance for doubtful accounts of $17,392 and $17,484 at June 30, 2012 and December 31, 2011, respectively	1,065,030	540,602
Income tax receivable
Prepaid expenses	86,734	34,037
Inventory and other current assets	286,788	228,309
Total current assets	1,581,589	883,222
Property, plant and equipment, net of accumulated depreciation and depletion of $984,221 and $970,137 at June 30, 2012 and December 31, 2011, respectively	2,922,793	1,507,368
Goodwill	2,503,401	581,379
Notes receivable	43,432	73,568
Available-for-sale Securities, Equity Securities, Noncurrent	47,113
Investments in Subsidiaries
Equity-method investments		72,472
Intangible and other long-term assets, net of accumulated amortization of $26,174 and $20,123 at June 30, 2012 and December 31, 2011, respectively	505,489	930,136
Total assets	7,603,817	4,048,145
Current liabilities:
Accounts payable	281,257	178,645
Accrued expenses	290,809	197,574
Income taxes payable	118,163	717
Deferred income taxes	3,907	831
Current portion of decommissioning liabilities		14,956
Current maturities of long-term debt	20,000	810
Total current liabilities	714,136	393,533
Deferred income taxes	680,268	297,458
Decommissioning liabilities	89,911	108,220
Long-term debt, net	1,973,669	1,685,087
Intercompany Payables or Receivables
Other long-term liabilities	106,086	110,248
Stockholders' equity:
Preferred stock of $0.01 par value. Authorized, 5,000,000 shares; none issued
Common stock of $0.001 par value. Authorized - 250,000,000, Issued - 156,920,904, Outstanding - 157,516,128 at June 30, 2012 Authorized - 125,000,000, Issued and Outstanding, 82,425,443 at December 31, 2011	157	80
Additional paid in capital	2,840,215	447,007
Accumulated other comprehensive loss, net	(29,846)	(26,936)
Retained earnings	1,229,221	1,033,448
Total stockholders' equity	4,039,747	1,453,599
Total liabilities and stockholders' equity	$ 7,603,817	$ 4,048,145

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Consolidated Balance Sheets [Abstract]
Allowance for doubtful accounts	$ 17,392	$ 17,484
Accumulated depreciation and depletion on Property, plant and equipment	984,221	970,137
Accumulated amortization of Intangible and other long-term assets	$ 26,174	$ 20,123
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	250,000,000	125,000,000
Common stock, shares issued	156,920,904	80,425,443
Common stock, shares outstanding	157,516,128	80,425,443

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Condensed Consolidated Statements of Operations [Abstract]
Revenues	$ 1,243,319	$ 479,893	$ 2,210,156	$ 864,890
Costs and expenses:
Cost of services (exclusive of items shown separately below)	711,284	250,667	1,258,051	467,689
Depreciation, depletion, amortization and accretion	135,516	60,020	238,112	115,844
General and administrative expenses	157,519	93,815	333,540	178,430
Income from operations	239,000	75,391	380,453	102,927
Other income (expense):
Interest expense, net	(30,177)	(16,263)	(59,983)	(28,415)
Intercompany Interest Expense Net
Earnings Losses from Consolidated Subsidiaries
Earnings (losses) from equity-method investments, net		5,499	(287)	5,526
Gain loss from Equity method investment	17,880		17,880
Income from continuing operations before income taxes	226,703	64,627	338,063	80,038
Income taxes	83,880	23,252	125,083	28,786
Net income from continuing operations	142,823	41,375	212,980	51,252
Income (loss) from discontinued operations, net of tax	(970)	6,734	(17,207)	12,360
Net income	$ 141,853	$ 48,109	$ 195,773	$ 63,612
Earnings per share information:
Continuing operations	$ 0.91	$ 0.52	$ 1.51	$ 0.65
Discontinued operations	(0.01)	0.08	(0.12)	0.15
Basic earnings per share	0.90	0.60	1.39	0.80
Continuing operations	0.90	0.51	1.49	0.63
Discontinued operations	(0.01)	0.08	(0.12)	0.16
Diluted earnings per share	$ 0.89	$ 0.59	$ 1.37	$ 0.79
Weighted average common shares used in computing earnings per share:
Basic	157,017	79,744	141,282	79,385
Incremental common shares from stock based compensation	1,615	1,510	1,810	1,639
Diluted	158,632	81,254	143,092	81,024

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Consolidated Statement of Comprehensive Income [Abstract]
Net income	$ 141,853	$ 48,109	$ 195,773	$ 63,612
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	(2,839)		(2,839)
Change in cumulative translation adjustment	(5,976)	711	(71)	8,566
Comprehensive income	$ 133,038	$ 48,820	$ 192,863	$ 72,178

- 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 + 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 amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities.

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+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities:
Net income	$ 195,773	$ 63,612
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	239,357	122,677
Deferred income taxes	(11,395)	8,895
Excess tax benefit from stock-based compensation	(1,279)	(10,262)
Gain loss from Equity method investment	(17,880)
Stock based and performance share unit compensation expense	13,725	4,888
Retirement and deferred compensation plan expense	1,412	486
Earnings Losses from Consolidated Subsidiaries
(Earnings) losses from equity-method investments, net of cash received	2,954	(3,989)
Amortization of debt acquisition costs and note discount	4,846	12,700
(Gain) loss sale of business	6,649	(8,558)
Other reconciling items, net	6,222	(3,006)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable	(94,803)	16,773
Inventory and other current assets	(24,494)	10,665
Accounts payable	24,512	952
Accrued expenses	(60,877)	10,609
Decommissioning liabilities	(4,578)
Income taxes	101,372	3,046
Other, net	(16,011)	(1,498)
Net Cash Provided by (Used in) Operating Activities, Total	365,505	227,990
Cash flows from investing activities:
Payments for capital expenditures	(588,182)	(216,682)
Purchase of short-term investments, net.		(164,130)
Change in restricted cash held for acquisition of business	785,280
Acquisitions of businesses, net of cash acquired	(1,039,238)
Cash proceeds from sale of businesses	185,912	22,349
Proceeds from Sale of Equity Method Investments	34,087
Other	24,949	(6,134)
Net Cash Provided by (Used in) Investing Activities, Total	(597,192)	(364,597)
Cash flows from financing activities:
Net payments on revolving line of credit	(75,000)	(175,000)
Proceeds from issuance of long-term debt	400,000	500,000
Principal payments of long-term debt	(17,546)	(405)
Payment of debt acquisition costs	(25,091)	(9,363)
Proceeds from exercise of stock options	13,652	10,129
Excess tax benefit from stock-based compensation	1,279	10,262
Proceeds from issuance of stock through employee benefit plans	1,406	1,223
Other	(4,583)	(7,629)
Net Cash Provided by (Used in) Financing Activities, Total	294,117	329,217
Effect of exchange rate changes on cash	333	777
Net increase in cash and cash equivalents	62,763	193,387
Cash and cash equivalents at beginning of period	80,274	50,727
Cash and cash equivalents at end of period	$ 143,037	$ 244,114

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2012
Basis of Presentation [Abstract]
Basis of Presentation	(1) Basis of Presentation Certain information and footnote disclosures normally in financial statements prepared in accordance with generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission; however, management believes the disclosures which are made are adequate to make the information presented not misleading. These financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in Superior Energy Services, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2011, except the portions updated by the Current Report on Form 8-K filed with the Securities Exchange Commission on June 15, 2012, and Management’s Discussion and Analysis of Financial Condition and Results of Operations herein. The financial information of Superior Energy Services, Inc. and subsidiaries (the Company) for the three and six months ended June 30, 2012 and 2011 has not been audited. However, in the opinion of management, all adjustments necessary to present fairly the results of operations for the periods presented have been included therein. The results of operations for the first half of the year are not necessarily indicative of the results of operations that might be expected for the entire year. Certain previously reported amounts have been reclassified to conform to the 2012 presentation.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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+ Details

Acquisitions

6 Months Ended

Jun. 30, 2012

Acquisitions [Abstract]

Acquisitions

(1) Acquisitions

Complete Production Services

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 this acquisition positions the combined company to be better equipped to compete with the larger oilfield service companies and to expand internationally. All of Complete’s operations have been 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 has been 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 up to 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.

Property, Plant and Equipment

A step-up adjustment of approximately $45.8 million was recorded to present property, plant and equipment acquired at its estimated fair value. The preliminary weighted average useful life used to calculate depreciation of the step-up related to property, plant and equipment is approximately 5 years.

Goodwill

Goodwill of approximately $1,922.3 million was recognized as a result of this acquisition and was calculated as the excess of the consideration paid over the net assets recognized and represents future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. It includes access to new product and service offerings, an experienced management team and workforce, and other benefits that the Company believes will result from the combination of the operations, and any other intangible assets that do not qualify for separate recognition. None of the goodwill related to this acquisition will be deductible for tax purposes. All of the goodwill has been assigned to the subsea and well enhancement segment.

Intangible Assets

The Company identified intangible assets related to trade names and customer relationships. The following table summarizes the fair value estimates recorded for the identifiable intangible assets (in thousands) and their estimated useful lives:



	Estimated Fair Value	Estimated Useful Life

Customer relationships	$ 315,000	17 years
Trade names	35,000	10 years

Total identifiable intangible assets	$ 350,000

Deferred Income Taxes

The Company provided deferred income taxes and other tax liabilities as part of the acquisition accounting related to the estimated fair value of acquired intangible assets and property, plant and equipment, as well as for uncertain tax positions taken in prior year tax returns. An adjustment of approximately $132.0 million was recorded to present the deferred tax assets and liabilities and other tax liabilities at fair value. The Company is still assessing the factors that impact deferred tax assets and liabilities related to this acquisition. These assets and liabilities will be revised when the assessment is finalized.

Acquisition Related Expenses

Acquisition related expenses totaled approximately $33.5 million, of which approximately $29.0 million was recorded in the six months ended June 30, 2012 and the remainder was recorded in the three months ended December 31, 2011. These acquisition related costs include expenses directly related to acquiring Complete, and have been recorded in general and administrative expenses.

Current Earnings and Pro Forma Impact of Acquisitions

The revenue and earnings related to Complete and certain other acquisitions included in the Company’s condensed consolidated statement of operations for the three and six months ended June 30, 2012, and the revenue and earnings of the Company on a consolidated basis as if these acquisitions had occurred on January 1, 2011, are as follows (in thousands, except per share amounts). The earnings related to Complete and certain other acquisitions included in the Company’s condensed consolidated statement of operations for the six months ended June 30, 2012 do not include interest expense or other corporate costs. The pro forma results include (i) the amortization associated with the acquired intangible assets, (ii) additional depreciation expense related to adjustments to property, plant and equipment, (iii) additional interest expense associated with debt used to fund a portion of the Complete acquisition, (iv) a reduction to interest expense associated with repayment of Complete’s debt, and (v) operating results of certain acquisitions of Complete, including costs directly related to these acquisitions. For the six months ended June 30, 2012, these pro forma results exclude approximately $77.1 million of non-recurring expenses, of which $48.4 million was recorded by Complete prior to February 7, 2012. These nonrecurring expenses include banking, legal, consulting and accounting fees, and change of control and other acquisition related expenses. The pro forma results do not include any potential synergies, cost savings or other expected benefits of the acquisition. Accordingly, the pro forma results should not be considered indicative of the results that would have occurred if the acquisition and related borrowings had been consummated as of January 1, 2011, nor are they indicative of future results.



	Revenue	Net income from continuing operations	Basic earnings per share	Diluted earnings per share

Actual results from date of acquisition through
the period ended June 30, 2012	$ 1,055,442	$ 140,212	$ 0.99	$ 0.98

Supplemental pro forma for the Company:

Six months ended June 30, 2012	$ 2,467,102	$ 242,206	$ 1.55	$ 1.53

Three months ended June 30, 2011	$ 1,013,619	$ 93,590	$ 0.61	$ 0.60

Six months ended June 30, 2011	$ 1,868,865	$ 137,669	$ 0.89	$ 0.88

The Company has no off-balance sheet financing arrangements other than potential additional consideration that may be payable as a result of the future operating performance of certain acquired businesses. At June 30, 2012, the maximum additional consideration payable was approximately $9.5 million, of which $3.0 million is attributable to acquisitions that occurred before the Company adopted the revised authoritative guidance for business combinations; therefore, these amounts are not classified as liabilities and are not reflected in the Company’s condensed consolidated financial statements until the amounts are fixed and determinable. When these amounts are determined, they will be capitalized as part of the purchase price of the related acquisition.

- 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

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-Name Emerging Issues Task Force (EITF)
-Number 88-16
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph F4
-Subparagraph e
-Appendix F

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-Number 141
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Reference 19: 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.

+ Details

Dispositions

6 Months Ended

Jun. 30, 2012

Dispositions [Abstract]

Dispositions

(1) Dispositions

On February 15, 2012, the Company sold one of its derrick barges and received proceeds of approximately $44.5 million, inclusive of selling costs. The Company recorded a pre-tax loss of approximately $3.1 million, inclusive of approximately $9.7 million of goodwill, during the six months ended June 30, 2012 in connection with this sale. This business was previously reported in the subsea and well enhancement segment. The operations and loss on the sale of this disposal group have been reported within income (loss) from discontinued operations in the condensed consolidated statement of operations for all periods presented.

On March 30, 2012, the Company sold the 18 liftboats and related assets comprising its marine segment. The Company received cash proceeds of approximately $141.4 million inclusive of estimated working capital, subject to adjustment, and selling costs. In connection with the sale, the Company repaid approximately $12.5 million in U.S. Government guaranteed long-term financing (see note 9). Additionally, the Company paid approximately $4.0 million of make-whole premiums and wrote off approximately $0.7 million of unamortized loan costs as a result of this repayment. The Company’s total pre-tax loss on the disposal of this segment was approximately $56.1 million, which includes a $46.1 million write off of long-lived assets and goodwill that was recorded in the fourth quarter of 2011 in order to approximate the segment’s indicated fair value and an additional loss of $10.0 million recorded in the first quarter of 2012, comprised of an approximate $3.6 million loss on sale of assets and approximately $6.4 million of additional costs related to the disposition. During the six months ended June 30, 2011, the Company sold seven liftboats from the marine segment for approximately $22.3 million, net of sales commissions, and recorded a pre-tax gain of approximately $8.6 million. The operations and loss on the sale of this disposal group have been reported within income (loss) from discontinued operations in the condensed 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 three and six months ended June 30, 2012 and 2011 (in thousands):



	Three Months		Six Months
	2012	2011	2012	2011

Revenues	$ -	$ 30,913	$ 16,231	$ 59,898

Income (loss) from discontinued operations before income tax	(1,514)	4,660	(8,249)	10,799

Income tax expense (benefit)	(544)	1,679	(1,771)	3,898

Gain (loss) on disposition, net of tax (benefit) expense of ($2,391)
for the six months ended June 30, 2012, and $2,131 and $3,098
for the three and six months ended June 30, 2011, respectively	-	3,753	(10,729)	5,459

Income (loss) from discontinued operations, net of tax	$ (970)	$ 6,734	$ (17,207)	$ 12,360

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

- 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
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-Name Statement of Financial Accounting Standard (FAS)
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+ Details

Stock Based Compensation and Retirement Plans	6 Months Ended
Stock Based Compensation and Retirement Plans	Jun. 30, 2012
Stock Based Compensation and Retirement Plans [Abstract]
Stock Based Compensation and Retirement Plans	(1) Stock-Based Compensation and Retirement Plans The Company maintains various stock incentive plans that provide long-term incentives to the Company’s key employees, including officers, directors, consultants and advisors (Eligible Participants). Under the incentive plans, the Company may grant incentive stock options, non-qualified stock options, restricted stock, restricted stock units, stock appreciation rights, other stock-based awards or any combination thereof to Eligible Participants. Stock Options The Company has issued non-qualified stock options under its stock incentive plans. The options generally vest in equal installments over three years and expire in ten years. Non-vested options are generally forfeited upon termination of employment. The Company’s compensation expense related to stock options for the six months ended June 30, 2012 and 2011 was approximately $2.7 million and $1.7 million, respectively, which is reflected in general and administrative expenses. Restricted Stock The Company has issued shares of restricted stock under its stock incentive plans. Shares of restricted stock generally vest in equal annual installments over three years. Non-vested shares are generally forfeited upon the termination of employment. With the exception of the non-vested shares of restricted stock issued as a result of the Complete acquisition, holders of shares of restricted stock are entitled to all rights of a stockholder of the Company with respect to the restricted stock, including the right to vote the shares and receive any dividends or other distributions. The Company’s compensation expense related to restricted stock for the six months ended June 30, 2012 and 2011 was approximately $8.4 million and $2.8 million, respectively, which is reflected in general and administrative expenses and cost of services. Restricted Stock Units The Company has issued restricted stock units (RSUs) to its non-employee directors under its stock incentive plans. Annually, each non-employee director is issued a number of RSUs having an aggregate dollar value determined by the Company’s Board of Directors. 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. The Company’s expense related to RSUs for the six months ended June 30, 2012 and 2011 was approximately $1.5 million and $0.6 million, respectively, which is reflected in general and administrative expenses. 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 stockholder return relative to those of the Company’s pre-defined “peer group.” If the participant has met specified continued service requirements, the PSUs will settle in cash or a combination of cash and up to 50% of equivalent value in the Company’s common stock, at the discretion of the compensation committee. The Company’s compensation expense related to all outstanding PSUs for the six months ended June 30, 2012 and 2011 was approximately $3.7 million and $2.4 million, respectively, which is reflected in general and administrative expenses and cost of services. The Company has recorded both current and long-term liabilities for this liability-based compensation award. During the six month period ended June 30, 2012, the Company issued approximately 43,300 shares of its common stock and paid approximately $2.7 million in cash to its employees to settle PSUs for the three year performance period ended December 31, 2011. During the six month period ended June 30, 2011, the Company issued approximately 67,300 shares of its common stock and paid approximately $2.8 million in cash to its employees to settle PSUs for the three year performance period ended December 31, 2010. 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 $1.4 million and $1.2 million related to shares issued under this plan for the six months ended June 30, 2012 and 2011, respectively. For each six month period ended June 30, 2012 and 2011, the Company recorded compensation expense of approximately $0.2 million which is reflected in general and administrative expenses. Additionally, the Company issued approximately 65,000 shares and 38,000 shares in the six months ended June 30, 2012 and 2011, respectively, related to this stock purchase plan. Deferred Compensation Plans The Company has a non-qualified deferred compensation plan which allows certain highly compensated employees 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 PSU compensation to the plan. The Company also has a non-qualified deferred compensation plan for its non-employee directors which allows each director to defer up to 100% of their cash compensation paid by the Company to the plan. Additionally, participating directors may defer up to 100% of the shares of common stock they are entitled to receive in connection with the payout of RSUs. Under each plan, payments are made to participants based on their annual enrollment elections and plan balance. 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 15). Supplemental Executive Retirement Plan The Company 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. The Company may also make discretionary contributions to a participant’s account. The Company recorded compensation expense of approximately $1.7 million and $0.9 million in general and administrative expenses for the six months ended June 30, 2012 and 2011, respectively.

Inventory and Other Current Assets	6 Months Ended
Inventory and Other Current Assets	Jun. 30, 2012
Inventory and Other Current Assets [Abstract]
Inventory and Other Current Assets	(1) Inventory and Other Current Assets Inventory and other current assets includes approximately $132.1 million and $83.1 million of inventory at June 30, 2012 and December 31, 2011, respectively. The Company’s inventory balance at June 30, 2012 consisted of approximately $59.7 million of finished goods, $5.4 million of work-in-process, $4.5 million of raw materials and $62.5 million of supplies and consumables. The Company’s 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. 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. Additionally, inventory and other current assets include approximately $106.7 million and $133.4 million of costs incurred and estimated earnings in excess of billings on uncompleted contracts at June 30, 2012 and December 31, 2011, respectively. The Company follows the percentage-of-completion method of accounting for applicable contracts.

Equity-Method Investments	6 Months Ended
Equity-Method Investments	Jun. 30, 2012
Equity-Method Investments [Abstract]
Equity-Method Investments	(1) Equity-Method Investments Investments in entities that are not controlled by the Company, but where the Company has the ability to exercise 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 (losses) from equity-method investments on its condensed consolidated statements of operations. Prior to March 2011, the Company had separate equity-method investments in SPN Resources, LLC (SPN Resources) and DBH, LLC (DBH). In March 2011, the Company contributed all of its equity interests in SPN Resources and DBH to Dynamic Offshore, the majority owner of both SPN Resources and DBH, in exchange for a 10% interest in Dynamic Offshore. In April 2012, SandRidge acquired Dynamic Offshore (see note 6). The Company recorded a gain in the second quarter of 2012 of approximately $17.9 million as a result of this transaction. The Company’s equity interest in Dynamic Offshore was accounted for as an equity-method investment with a balance of approximately $70.6 million at December 31, 2011. The Company recorded losses from its equity-method investment in Dynamic Offshore of approximately $0.3 million and income of approximately $4.2 million for the six and four months ended June 30, 2012 and 2011, respectively. The Company, where possible and at competitive rates, provided 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 $15.5 million and $15.6 million for the six and four months ended June 30, 2012 and 2011, respectively. Additionally, the Company had 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 recorded earnings from its equity-method investment in SPN Resources of approximately $0.2 million and recorded earnings from its equity-method investment in DBH of approximately $0.9 million for the two months ended February 28, 2011. The Company also recorded revenue from SPN Resources of approximately $0.3 million and from DBH of approximately $0.9 million for the two months ended February 28, 2011.

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References + Details

Long-Term Contracts	6 Months Ended
Long-Term Contracts	Jun. 30, 2012
Long-Term Contracts [Abstract]
Long-Term Contracts	(1) Long-Term Contracts In 2010, the Company’s wholly owned subsidiary, Wild Well Control, Inc. (Wild Well), acquired 100% ownership of Shell Offshore, Inc.’s Gulf of Mexico Bullwinkle platform and its related assets, and assumed the related decommissioning obligations. As part of the asset purchase agreement with Shell Offshore, Inc., Wild Well was required to obtain a $50.0 million performance bond, as well as fund $50.0 million into an escrow account. Included in intangible and other long-term assets, net is escrowed cash of $50.3 million and $50.2 million at June 30, 2012 and December 31, 2011, respectively. In December 2007, Wild Well entered into contractual arrangements pursuant to which it decommissioned seven downed oil and gas platforms and related well facilities located in the Gulf of Mexico for a fixed sum of $750 million. The contract contains certain covenants primarily related to Wild Well’s performance of the work. As of June 30, 2012, the work on this project was complete. At June 30, 2012 and December 31, 2011, there were approximately $100.0 million and $129.7 million, respectively, of costs and estimated earnings in excess of billings related to this contract included in other current assets.

- Definition

The entire disclosure for long-term contracts or programs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Section B
-Chapter 11
-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 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section A
-Chapter 11
-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.

+ Details

Debt	6 Months Ended
Debt	Jun. 30, 2012
Debt [Abstract]
Debt	(1) Debt On February 7, 2012, in connection with the Complete acquisition, the Company amended its bank credit facility to increase the revolving borrowing capacity to $600.0 million from $400.0 million, and to include a $400.0 million term loan. The principal balance of the term loan is payable in installments of $5.0 million on the last day of each fiscal quarter, commencing on June 30, 2012. Any amounts outstanding on the revolving credit facility and the term loan are due on February 7, 2017. Costs associated with the bank credit facility totaled approximately $24.7 million. These costs have been capitalized and will be amortized over the term of the credit facility. At June 30, 2012, the Company had no amounts outstanding under the revolving credit facility. The Company had approximately $50.5 million of letters of credit outstanding, which reduce the Company’s borrowing availability under this portion of the credit facility. Amounts borrowed under the credit facility bear interest at LIBOR plus margins that depend on the Company’s leverage ratio. Indebtedness under the credit facility is secured by substantially all of the Company’s assets, including the pledge of the stock of the Company’s principal domestic subsidiaries. The credit facility contains customary events of default and requires that the Company satisfy various financial covenants. It also limits the Company’s ability to pay dividends or make other distributions, make acquisitions, make changes to the Company’s capital structure, create liens or incur additional indebtedness. At June 30, 2012, the Company was in compliance with all such covenants. The Company 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 June 30, 2012, the Company was in compliance with all such covenants. The Company has outstanding $500 million of 6 3/8% unsecured senior notes due 2019. The indenture governing the 6 3/8% senior notes requires semi-annual interest payments on May 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 June 30, 2012, the Company was in compliance with all such covenants. The Company also has outstanding $800 million of 7 1/8% unsecured senior notes due 2021. The indenture governing the 7 1/8% senior notes requires semi-annual interest payments on June 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 June 30, 2012, the Company was in compliance with all such covenants. In connection with the sale of the marine segment in March 2012, the Company repaid $12.5 million of U.S. Government guaranteed long-term financing (see note 3). The Company also paid approximately $4.0 million of make-whole premiums and wrote off approximately $0.7 million of unamortized loan costs as a result of this repayment. These expenses have been reported in discontinued operations, net of income tax in the condensed consolidated statement of operations.

- 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

Earnings Per Share	6 Months Ended
Earnings Per Share	Jun. 30, 2012
Earnings Per Share [Abstract]
Earnings per Share	(1) Earnings per Share Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding during the period. The weighted average number of common shares outstanding excludes the shares of non-vested restricted stock that were assumed by the Company as a result of the Complete acquisition. Diluted earnings per share is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional common shares that could have been outstanding assuming the exercise of stock options, conversion of restricted stock units and the vesting of outstanding restricted stock issued in the acquisition of Complete. Stock options for approximately 2,090,000 and 190,000 shares for the three months ended June 30, 2012 and 2011, respectively, and approximately 1,010,000 and 190,000 shares for the six months ended June 30, 2012 and 2011, respectively, were excluded in the computation of diluted earnings per share for the three and six months ended June 30, 2012 and 2011, as the effect would have been anti-dilutive.

Decommissioning Liabilities

6 Months Ended

Jun. 30, 2012

Decommissioning Liabilities [Abstract]

Decommissioning Liabilities

(1) 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. As a result of continuing development activities, the Company revised its estimates during the second quarter of 2012 relating to the timing of decommissioning work on Bullwinkle assets, including a 10 year postponement of the platform decommissioning. This change in estimate resulted in a significant reduction in the present value of decommissioning liabilities.

In connection with the acquisition of Complete in February 2012, the Company assumed approximately $3.6 million of decommissioning liabilities associated with costs to plug saltwater disposal wells at the end of the service lives of the assets, as well as other retirement commitments.

The following table summarizes the activity for the Company’s decommissioning liabilities for the six month periods ended June 30, 2012 and 2011 (in thousands):



	Six Months Ended
	June 30,
	2012	2011

Decommissioning liabilities, December 31, 2011 and 2010, respectively	$ 123,176	$ 117,716
Liabilities acquired and incurred	3,573	-
Liabilities settled	(4,578)	-
Accretion	2,113	3,336
Revision in estimated liabilities	(34,373)	-

Total decommissioning liabilities, June 30, 2012 and 2011, respectively	89,911	121,052

Less: current portion of decommissioning liabilities at June 30, 2012 and 2011, respectively	-	17,172

Long-term decommissioning liabilities, June 30, 2012 and 2011, respectively	$ 89,911	$ 103,880

Notes Receivable	6 Months Ended
Notes Receivable	Jun. 30, 2012
Notes Receivable [Abstract]
Notes Receivable	(1) 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 obligation totaled $115.0 million and is recorded at present value using an effective interest rate of 6.58%. The related discount is amortized to interest income based on the expected timing of the platform’s removal. During the second quarter of 2012, the Company revised its timing estimate for the Bullwinkle platform removal, resulting in a reduction of the present value of the notes receivable at June 30, 2012 (see note 11). The Company recorded interest income related to notes receivable of $1.4 million and $2.2 million for six months ended June 30, 2012 and 2011, respectively.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5066-111524

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 01-6
-Paragraph 13
-Subparagraph d
-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 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3, 4
-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 7
-Article 9

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Article 4

+ Details

Segment Information

6 Months Ended

Jun. 30, 2012

Segment Information [Abstract]

Segment Information

(1) 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 that 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.

Certain previously reported segment information has been adjusted due to the disposal of the marine segment and the derrick barge from the subsea and well enhancement segment. The operating results and the loss on the sale of the marine segment and the derrick barge have been accounted for as discontinued operations. Summarized financial information for the Company’s segments for the three and six months ended June 30, 2012 and 2011 is shown in the following tables (in thousands):



Three Months Ended June 30, 2012

	Subsea and	Drilling
	Well	Products and		Consolidated
	Enhancement	Services	Unallocated	Total

Revenues	$ 1,045,169	$ 198,150	$ -	$ 1,243,319
Cost of services
(exclusive of items shown separately below)	644,799	66,485	-	711,284
Depreciation, depletion, amortization and accretion	98,260	37,256	-	135,516
General and administrative expenses	122,426	35,093	-	157,519
Income from operations	179,684	59,316	-	239,000
Interest income (expense), net	228	-	(30,405)	(30,177)
Gain on sale of equity-method investment	-	-	17,880	17,880

Income (loss) from continuing operations
before income taxes	$ 179,912	$ 59,316	$ (12,525)	$ 226,703



Three Months Ended June 30, 2011

	Subsea and	Drilling
	Well	Products and		Consolidated
	Enhancement	Services	Unallocated	Total

Revenues	$ 330,726	$ 149,167	$ -	$ 479,893
Cost of services
(exclusive of items shown separately below)	194,040	56,627	-	250,667
Depreciation, depletion, amortization and accretion	27,571	32,449	-	60,020
General and administrative expenses	63,107	30,708	-	93,815
Income from operations	46,008	29,383	-	75,391
Interest income (expense), net	1,126	-	(17,389)	(16,263)
Earnings from equity-method
investments, net	-	-	5,499	5,499

Income (loss) from continuing operations
before income taxes	$ 47,134	$ 29,383	$ (11,890)	$ 64,627



Six Months Ended June 30, 2012

	Subsea and	Drilling
	Well	Products and		Consolidated
	Enhancement	Services	Unallocated	Total

Revenues	$ 1,822,649	$ 387,507	$ -	$ 2,210,156
Cost of services
(exclusive of items shown separately below)	1,129,000	129,051	-	1,258,051
Depreciation, depletion, amortization and accretion	164,696	73,416	-	238,112
General and administrative expenses	265,045	68,495	-	333,540
Income from operations	263,908	116,545	-	380,453
Interest income (expense), net	1,409	-	(61,392)	(59,983)
Losses from equity-method
investments, net	-	-	(287)	(287)
Gain on sale of equity-method investment	-	-	17,880	17,880

Income (loss) from continuing operations
before income taxes	$ 265,317	$ 116,545	$ (43,799)	$ 338,063



Six Months Ended June 30, 2011

	Subsea and	Drilling
	Well	Products and		Consolidated
	Enhancement	Services	Unallocated	Total

Revenues	$ 587,453	$ 277,437	$ -	$ 864,890
Cost of services
(exclusive of items shown separately below)	364,365	103,324	-	467,689
Depreciation, depletion, amortization and accretion	52,832	63,012	-	115,844
General and administrative expenses	118,090	60,340	-	178,430
Income from operations	52,166	50,761	-	102,927
Interest income (expense), net	2,235	-	(30,650)	(28,415)
Earnings from equity-method
investments, net	-	-	5,526	5,526

Income (loss) from continuing operations
before income taxes	$ 54,401	$ 50,761	$ (25,124)	$ 80,038



Identifiable Assets

	Subsea and	Drilling
	Well	Products and			Consolidated
	Enhancement	Services	Marine	Unallocated	Total

June 30, 2012	$ 6,543,166	$ 1,013,538	$ -	$ 47,113	$ 7,603,817

December 31, 2011	$ 2,863,550	$ 947,679	$ 164,444	$ 72,472	$ 4,048,145

Geographic Segments

The Company attributes revenue to various countries based on the location where services are performed or the destination of the drilling products or equipment sold or leased. Long-lived assets consist primarily of property, plant and equipment and are attributed to various countries based on the physical location of the asset at the end of a period. The Company’s information by geographic area is as follows (in thousands):

- 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 Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: 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.

+ Details

Guarantee	6 Months Ended
Guarantee	Jun. 30, 2012
Guarantee [Abstract]
Guarantee	(1) Guarantee In accordance with authoritative guidance related to guarantees, the Company has assigned an estimated value of $2.6 million at June 30, 2012 and December 31, 2011, which is reflected in other long-term liabilities, related to decommissioning activities in connection with oil and gas properties acquired by SPN Resources prior to its sale to Dynamic Offshore. The Company believes that the likelihood of being required to perform these guarantees is remote. In the unlikely event of default on any remaining decommissioning liabilities, the total maximum potential obligation under these guarantees is estimated to be approximately $136.7 million, net of the contractual right to receive payments from third parties, which is approximately $24.6 million, as of June 30, 2012. The total maximum potential obligation will decrease over time as the underlying obligations are fulfilled.

Fair Value Measurements

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

Fair Value Measurements

(1) Fair Value Measurements

The Company follows the authoritative guidance for fair value measurements relating to financial and nonfinancial assets and liabilities, including presentation of required disclosures herein. This guidance establishes a fair value framework requiring the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets and liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows:

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

Level 2: Observable inputs other than those included in Level 1 such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical assets or liabilities in inactive markets; or model-derived valuations or other inputs that can be corroborated by observable market data.

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

The following tables provide a summary of the financial assets and liabilities measured at fair value on a recurring basis at June 30, 2012 and December 31, 2011 (in thousands):



		Fair Value Measurements at Reporting Date Using
	June 30, 2012	Level 1	Level 2	Level 3

Available-for-sale securities	$ 47,113	$ 47,113	-	-

Intangible and other long-term assets
Non-qualified deferred compensation assets	$ 10,928	$ 825	$ 10,103	-
Interest rate swap	$ 641	-	$ 641	-

Accounts payable
Non-qualified deferred compensation liabilities	$ 2,385	-	$ 2,385	-
Contingent consideration	$ 6,306	-	-	$ 6,306

Other long-term liabilities
Non-qualified deferred compensation liabilities	$ 13,184	-	$ 13,184	-

	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	-

Available-for-sale securities is comprised of approximately 7.0 million shares of SandRidge common stock that the Company received as partial consideration for its 10% interest in Dynamic Offshore (see notes 6 and 7). The securities are reported at fair value based on the stock’s closing price as reported on the New York Stock Exchange.

The Company’s non-qualified deferred compensation plans allow officers, certain highly compensated employees and non-employee directors to defer receipt of a portion of their compensation and contribute such amounts to one or more hypothetical investment funds (see note 4). The Company entered into separate trust agreements, subject to general creditors, to segregate assets of each plan and reports the accounts of the trusts in its condensed consolidated financial statements. These investments are reported at fair value based on unadjusted quoted prices in active markets for identifiable assets and observable inputs for similar assets and liabilities, which represent Levels 1 and 2, respectively, in the fair value hierarchy.

In April 2012, the Company entered into an interest rate swap agreement for a notional amount of $100 million, whereby the Company is entitled to receive semi-annual interest payments at a fixed rate of 7 1/8% per annum and is obligated to make semi-annual interest payments at a floating rate, which is adjusted every 90 days, based on LIBOR plus a fixed margin. The Company had an interest rate swap agreement for a notional amount of $150 million that was designated as a fair value hedge. In February 2012, the Company sold this interest rate swap to the counterparty for approximately $1.2 million.

Included in current liabilities is $6.3 million of contingent consideration related to the purchase of a hydraulic fracturing and cementing company in 2011. The fair value of the contingent consideration was determined using a probability-weighted discounted cash flow approach at the acquisition date and reporting date. The approach is based on significant inputs that are not observable in the market, which are referred to as Level 3 inputs. The fair value is based on the acquired company reaching specific performance metrics over the next two years of operations.

In accordance with authoritative guidance, non-financial assets and non-financial liabilities are remeasured at fair value on a non-recurring basis. In determining estimated fair value of acquired goodwill, we use various sources and types of information, including, but not limited to, quoted market prices, replacement cost estimates, accepted valuation techniques such as discounted cash flows, and existing carrying value of acquired assets. As necessary, we utilize third-party appraisal firms to assist us in determining fair value of inventory, identifiable intangible assets, and any other significant assets or liabilities. During the measurement period and as necessary, we adjust the preliminary purchase price allocation if we obtain more information regarding asset valuations and liabilities assumed.

The fair value of the Company’s cash equivalents, accounts receivable and current maturities of long-term debt approximates their carrying amounts. The fair value of the Company’s long-term debt was approximately $2,046.0 million and $1,749.8 million at June 30, 2012 and December 31, 2011, 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.

- 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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+ Details

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2012

Derivative Financial Instruments [Abstract]

Derivative Financial Instruments

(1) 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 April 2012, the Company entered into an interest rate swap for a notional amount of $100 million related to its fixed rate debt maturing in December 2021. 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 $0.6 million within intangible and other long term assets in the consolidated balance sheet at June 30, 2012. 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 statement of cash flows.

The Company had an interest rate swap agreement for a notional amount of $150 million related to its fixed rate debt maturing in 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 within intangible and other long-term assets in the condensed consolidated balance sheet as of December 31, 2011. In February 2012, the Company sold this interest rate swap to the counterparty for $1.2 million.

The location and effect of the derivative instrument on the condensed consolidated statement of operations for the three and six months ended June 30, 2012 and 2011, presented on a pre-tax basis, is as follows (in thousands):



		Amount of (gain) loss recognized

	Location of (gain) loss recognized	Three Months Ended June 30, 2012	Three Months Ended June 30, 2011

Interest rate swap	Interest expense, net	$ (3,156)	$ (636)
Hedged item - debt	Interest expense, net	2,515	270
		$ (641)	$ (366)



	Location of (gain) loss recognized	Six Months Ended June 30, 2012	Six Months Ended June 30, 2012

Interest rate swap	Interest expense, net	$ (3,156)	$ (120)
Hedged item - debt	Interest expense, net	2,515	(621)
		$ (641)	$ (741)

For the six months ended June 30, 2012 and 2011, approximately $0.6 million and $0.7 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.

- 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.

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+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2012
Income Taxes [Abstract]
Income Taxes	(1) Income Taxes The Company follows authoritative guidance surrounding accounting for uncertainty in income taxes. It is the Company’s policy to recognize interest and applicable penalties, if any, related to uncertain tax positions in income tax expense. The Company had approximately $22.3 million and $21.7 million of unrecorded tax benefits at June 30, 2012 and December 31, 2011, respectively, all of which would impact the Company’s effective tax rate if recognized. In addition to its U.S. federal tax return, the Company files income tax returns in various state and foreign jurisdictions. The number of years that are open under the statute of limitations and subject to audit varies depending on the tax jurisdiction. The Company remains subject to U.S. federal tax examinations for years after 2007.

- 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.

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-Name Statement of Financial Accounting Standard (FAS)
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+ Details

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2012
Commitments and Contingencies [Abstract]
Commitments and Contingencies	(18) Commitments and Contingencies The Company’s wholly owned subsidiary, Hallin Marine, is the lessee of a dynamically positioned subsea vessel under a capital lease expiring in 2019 with a 2 year renewal option. Hallin Marine owns a 5% equity interest in the entity that owns this leased asset. The lessor’s debt is non-recourse to the Company. The amount of the asset and liability under this capital lease is recorded at the present value of the lease payments. The vessel’s gross asset value under the capital lease was approximately $37.6 million at inception and accumulated depreciation through June 30, 2012 and December 31, 2011 was approximately $14.3 million and $12.2 million, respectively. At June 30, 2012 and December 31, 2011, the Company had approximately $27.6 million and $29.5 million, respectively, included in other long-term liabilities, and approximately $3.7 million and $3.6 million, respectively, included in accounts payable related to the obligations under this capital lease. The future minimum lease payments under this capital lease are approximately $1.8 million, $3.9 million, $4.2 million, $4.6 million, $5.0 million and $5.4 million for the six months ending December 31, 2012 and the years ending December 31, 2013, 2014, 2015, 2016 and 2017, respectively, exclusive of interest at an annual rate of 8.5%. For the six months ended June 30, 2012 and 2011, the Company recorded interest expense of approximately $1.4 million and $1.5 million, respectively, in connection with this capital lease. Due to the nature of the Company’s business, the Company is involved, from time to time, in routine litigation or subject to disputes or claims regarding 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 is expected to have a material adverse effect on the Company’s financial condition, results of operations or liquidity.

- Definition

The entire disclosure for commitments and contingencies.

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+ Details

Related Party Disclosures	6 Months Ended
Related Party Disclosures	Jun. 30, 2012
Related Party Transactions [Abstract]
Related Party Disclosures	(19) Related Party Disclosures The Company believes all transactions with related parties have terms and conditions no less favorable than transactions with unaffiliated parties. Subsequent to the acquisition of Complete, the Company purchases services, products and equipment from companies affiliated with an officer of one of its subsidiaries. For the six months ended June 30, 2012, these purchases totaled approximately $133.2 million, of which approximately $63.8 million was purchased from ORTEQ Energy Services, a heavy equipment construction company which also manufactures pressure pumping equipment, approximately $2.1 million was purchased from Ortowski Construction, primarily related to the manufacture of pressure pumping units, approximately $5.0 million was purchased from Resource Transport, approximately $52.6 million was purchased from Texas Specialty Sands, LLC primarily for the purchase of sand used for pressure pumping activities, and approximately $9.7 million was purchased from ProFuel, LLC. As of June 30, 2012, the Company’s trade accounts payable includes amounts due to these companies totaling approximately $19.8 million, of which approximately $7.3 million was due ORTEQ Energy Services, approximately $0.1 million was due Ortowski Construction, approximately $1.0 million was due Resource Transport, approximately 9.6 million was due Texas Specialty Sands and approximately $1.8 million was due ProFuel, LLC.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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-Number 57
-Paragraph 1-4
-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.

+ Details

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2012
Subsequent Events [Abstract]
Subsequent Events	(19) Subsequent Events In accordance with authoritative guidance, the Company has evaluated and disclosed all material subsequent events that occurred after the balance sheet date, but before financial statements were issued.

Financial Information Related to Guarantor Subsidiaries

6 Months Ended

Jun. 30, 2012

Financial Information Related to Guarantor Subsidiaries [Abstract]

Financial Information Related to Guarantor Subsidiaries

(19) Financial Information Related to Guarantor Subsidiaries

SESI, L.L.C. (Issuer), a 100% owned subsidiary of Superior Energy Services, Inc. (Parent), has $500 million of unsecured 6 3/8% senior notes due 2019 and $800 million of unsecured 7 1/8% senior notes due 2021. The Parent, along with certain of its 100% owned domestic subsidiaries, fully and unconditionally guaranteed the senior notes, and such guarantees are joint and several. Domestic income taxes are paid by the Parent through a consolidated tax return and are accounted for by the Parent. The Company has revised the comparative condensed 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 June 30, 2012 and December 31, 2011, and the condensed consolidating statements of operations and cash flows for the three and six months ended June 30, 2012 and 2011.



SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Balance Sheets
June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$ -	$ 74,811	$ 5,828	$ 62,398	$ -	$ 143,037
Accounts receivable, net	-	493	910,311	211,460	(57,234)	1,065,030
Prepaid expenses	113	8,726	38,295	39,600	-	86,734
Inventory and other current assets	-	1,833	268,435	16,520	-	286,788

Total current assets	113	85,863	1,222,869	329,978	(57,234)	1,581,589

Property, plant and equipment, net	-	6,760	2,347,723	568,310	-	2,922,793
Goodwill	-	-	2,119,476	383,925	-	2,503,401
Notes receivable	-	-	43,432	-	-	43,432
Available-for-sale securities	-	47,113	-	-	-	47,113
Investments in subsidiaries	1,953,243	4,130,558	211,469	-	(6,295,270)	-
Intangible and other long-term assets, net	-	62,811	378,149	64,529	-	505,489

Total assets	$ 1,953,356	$ 4,333,105	$ 6,323,118	$ 1,346,742	$ (6,352,504)	$ 7,603,817

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$ -	$ 5,825	$ 217,519	$ 109,112	$ (51,199)	$ 281,257
Accrued expenses	107	48,806	189,160	58,788	(6,052)	290,809
Income taxes payable	116,306	-	-	1,857	-	118,163
Deferred income taxes	3,907	-	-	-	-	3,907
Current maturities of long-term debt	-	20,000	-	-	-	20,000

Total current liabilities	120,320	74,631	406,679	169,757	(57,251)	714,136

Deferred income taxes	665,168	-	-	15,100	-	680,268
Decommissioning liabilities	-	-	87,670	2,241	-	89,911
Long-term debt, net	-	1,973,669	-	-	-	1,973,669
Intercompany payables/(receivables)	(2,877,833)	300,447	2,433,041	307,992	(163,647)	-
Other long-term liabilities	5,954	31,118	24,909	44,105	-	106,086

Stockholders' equity:
Preferred stock of $.01 par value	-	-	-	-	-	-
Common stock of $.001 par value	157	-	782	4,212	(4,994)	157
Additional paid in capital	2,840,215	124,271	687,939	688,621	(1,500,831)	2,840,215
Accumulated other comprehensive
income (loss), net	(29,847)	(29,846)	(456)	(27,006)	57,309	(29,846)
Retained earnings (accumulated deficit)	1,229,222	1,858,815	2,682,554	141,720	(4,683,090)	1,229,221

Total stockholders' equity (deficit)	4,039,747	1,953,240	3,370,819	807,547	(6,131,606)	4,039,747

Total liabilities and stockholders' equity	$ 1,953,356	$ 4,333,105	$ 6,323,118	$ 1,346,742	$ (6,352,504)	$ 7,603,817



SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Balance Sheets
December 31, 2011
(in thousands)
(audited)

	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
income (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 Statements of Operations
Three Months Ended June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Revenues	$ -	$ -	$ 1,094,587	$ 188,681	$ (39,949)	$ 1,243,319

Cost of services (exclusive of items shown
separately below)	-	-	628,658	122,532	(39,906)	711,284
Depreciation, depletion, amortization and
accretion	-	178	116,383	18,955	-	135,516
General and administrative expenses	132	26,278	107,285	23,867	(43)	157,519

Income (loss) from operations	(132)	(26,456)	242,261	23,327	-	239,000

Other income (expense):
Interest expense, net	-	(29,247)	(146)	(784)	-	(30,177)
Earnings (losses) from consolidated subsidiaries	218,464	256,287	15,790	-	(490,541)	-
Gain on sale of equity-method investment	-	17,880	-	-	-	17,880

Income (loss) from continuing operations before
income taxes	218,332	218,464	257,905	22,543	(490,541)	226,703

Income taxes	77,022	-	-	6,858	-	83,880

Net income (loss) from continuing operations	141,310	218,464	257,905	15,685	(490,541)	142,823

Discontinued operations, net of income tax	544	-	(1,514)	-	-	(970)

Net income (loss)	$ 141,854	$ 218,464	$ 256,391	$ 15,685	$ (490,541)	$ 141,853


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Comprehensive Income
Three Months Ended June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Net income (loss)	$ 141,854	$ 218,464	$ 256,391	$ 15,685	$ (490,541)	$ 141,853
Unrealized net loss on investment securities, net of tax	-	(2,839)	-	-	-	(2,839)
Change in cumulative translation adjustment	(5,976)	(5,976)	-	(5,976)	11,952	(5,976)

Comprehensive income (loss)	$ 135,878	$ 209,649	$ 256,391	$ 9,709	$ (478,589)	$ 133,038



SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Operations
Three Months Ended June 30, 2011 *
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Revenues	$ -	$ -	$ 403,322	$ 97,298	$ (20,727)	$ 479,893

Cost of services (exclusive of items shown
separately below)	-	-	200,565	70,766	(20,664)	250,667
Depreciation, depletion, amortization and
accretion	-	129	48,672	11,219	-	60,020
General and administrative expenses	205	19,927	54,121	19,625	(63)	93,815

Income (loss) from operations	(205)	(20,056)	99,964	(4,312)	-	75,391

Other income (expense):
Interest expense, net	-	(17,499)	1,190	46	-	(16,263)
Intercompany interest income (expense)	-	6,605	-	(6,605)	-	-
Earnings (losses) from consolidated subsidiaries	72,534	98,608	547	-	(171,689)	-
Earnings (losses) from equity-method
investments, net	-	5,278	-	221	-	5,499

Income (loss) from continuing operations before
income taxes	72,329	72,936	101,701	(10,650)	(171,689)	64,627

Income taxes	20,402	-	-	2,850	-	23,252

Net income (loss) from continuing operations	51,927	72,936	101,701	(13,500)	(171,689)	41,375

Discontinued operations, net of income tax	(3,818)	(402)	10,967	(13)	-	6,734

Net income (loss)	$ 48,109	$ 72,534	$ 112,668	$ (13,513)	$ (171,689)	$ 48,109


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Comprehensive Income
Three Months Ended June 30, 2011 *
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Net income (loss)	$ 48,109	$ 72,534	$ 112,668	$ (13,513)	$ (171,689)	$ 48,109
Change in cumulative translation adjustment	711	711	-	711	(1,422)	711

Comprehensive income (loss)	$ 48,820	$ 73,245	$ 112,668	$ (12,802)	$ (173,111)	$ 48,820


* As adjusted for discontinued operations



SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Operations
Six Months Ended June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Revenues	$ -	$ -	$ 1,929,759	$ 363,733	$ (83,336)	$ 2,210,156

Cost of services (exclusive of items shown
separately below)	-	-	1,095,071	246,231	(83,251)	1,258,051
Depreciation, depletion, amortization and
accretion	-	369	202,323	35,420	-	238,112
General and administrative expenses	228	86,256	200,494	46,647	(85)	333,540

Income (loss) from operations	(228)	(86,625)	431,871	35,435	-	380,453

Other income (expense):
Interest expense, net	-	(59,730)	1,193	(1,446)	-	(59,983)
Earnings (losses) from consolidated subsidiaries	306,101	436,838	28,201	-	(771,140)	-
Earnings (losses) from equity-method
investments, net	-	(287)	-	-	-	(287)
Gain on sale of equity-method investment	-	17,880	-	-	-	17,880

Income (loss) from continuing operations before
income taxes	305,873	308,076	461,265	33,989	(771,140)	338,063

Income taxes	112,569	-	-	12,514	-	125,083

Net income (loss) from continuing operations	193,304	308,076	461,265	21,475	(771,140)	212,980

Discontinued operations, net of income tax	2,470	(1,975)	(14,693)	(3,009)	-	(17,207)

Net income (loss)	$ 195,774	$ 306,101	$ 446,572	$ 18,466	$ (771,140)	$ 195,773


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Comprehensive Income
Six Months Ended June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Net income (loss)	$ 195,774	$ 306,101	$ 446,572	$ 18,466	$ (771,140)	$ 195,773
Unrealized net loss on investment securities, net of tax	-	(2,839)	-	-	-	(2,839)
Change in cumulative translation adjustment	(71)	(71)	-	(71)	142	(71)

Comprehensive income (loss)	$ 195,703	$ 303,191	$ 446,572	$ 18,395	$ (770,998)	$ 192,863



SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Operations
Six Months Ended June 30, 2011 *
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Revenues	$ -	$ -	$ 725,977	$ 174,999	$ (36,086)	$ 864,890

Cost of services (exclusive of items shown
separately below)	-	-	377,410	126,238	(35,959)	467,689
Depreciation, depletion, amortization and
accretion	-	257	94,097	21,490	-	115,844
General and administrative expenses	530	38,480	104,391	35,156	(127)	178,430

Income (loss) from operations	(530)	(38,737)	150,079	(7,885)	-	102,927

Other income (expense):
Interest expense, net	-	(30,060)	2,270	(625)	-	(28,415)
Intercompany interest income (expense)	-	12,811	-	(12,811)	-	-
Earnings (losses) from consolidated subsidiaries	95,961	148,314	1,181	-	(245,456)	-
Earnings (losses) from equity-method
investments, net	-	4,400	-	1,126	-	5,526

Income (loss) from continuing operations before
income taxes	95,431	96,728	153,530	(20,195)	(245,456)	80,038

Income taxes	24,789	-	-	3,997	-	28,786

Net income (loss) from continuing operations	70,642	96,728	153,530	(24,192)	(245,456)	51,252

Discontinued operations, net of income tax	(7,030)	(767)	20,216	(59)	-	12,360

Net income (loss)	$ 63,612	$ 95,961	$ 173,746	$ (24,251)	$ (245,456)	$ 63,612


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Comprehensive Income
Six Months Ended June 30, 2011 *
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Net income (loss)	$ 63,612	$ 95,961	$ 173,746	$ (24,251)	$ (245,456)	$ 63,612
Change in cumulative translation adjustment	8,566	8,566	-	8,566	(17,132)	8,566

Comprehensive income (loss)	$ 72,178	$ 104,527	$ 173,746	$ (15,685)	$ (262,588)	$ 72,178

* As adjusted for discontinued operations



SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Condensed Consolidating Statements of Cash Flows
Six Months Ended June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Cash flows from operating activities:
Net income (loss)	$ 195,774	$ 306,101	$ 446,572	$ 18,466	$ (771,140)	$ 195,773
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation, depletion, amortization and accretion	-	369	203,431	35,557	-	239,357
Deferred income taxes	(15,686)	-	-	4,291	-	(11,395)
Excess tax benefit from stock-based compensation	(1,279)	-	-	-	-	(1,279)
Gain on sale of equity-method investment	-	(17,880)	-	-	-	(17,880)
Stock-based and performance share unit compensation
expense	-	13,725	-	-	-	13,725
Retirement and deferred compensation plan expense	-	1,412	-	-	-	1,412
(Earnings) losses from consolidated subsidiaries	(306,101)	(436,838)	(28,201)	-	771,140	-
(Earnings) losses from equity-method investments, net
of cash received	-	2,787	-	167	-	2,954
Amortization of debt acquisition costs and note
discount	-	4,846	-	-	-	4,846
Loss on sale of businesses	-	-	6,649	-	-	6,649
Other reconciling items, net	-	4,826	650	746	-	6,222
Changes in operating assets and liabilities, net
of acquisitions and dispositions:
Accounts receivable	-	38	(84,277)	(10,564)	-	(94,803)
Inventory and other current assets	-	(37)	(24,223)	(234)	-	(24,494)
Accounts payable	-	1,518	14,201	8,793	-	24,512
Accrued expenses	(58)	(7,380)	(57,631)	4,192	-	(60,877)
Decommissioning liabilities	-	-	(4,546)	(32)	-	(4,578)
Income taxes	102,086	-	-	(714)	-	101,372
Other, net	(79)	(3,949)	(3,490)	(8,493)	-	(16,011)

Net cash provided by (used in) operating activities	(25,343)	(130,462)	469,135	52,175	-	365,505

Cash flows from investing activities:
Payments for capital expenditures	-	(5,041)	(527,082)	(56,059)	-	(588,182)
Acquisitions of businesses, net of cash acquired	-	(1,229,327)	106,952	83,137	-	(1,039,238)
Change in restricted cash held for acquisition of business	-	785,280	-	-	-	785,280
Cash proceeds from sale of businesses	-	185,912	-	-	-	185,912
Cash proceeds from the sale of equity-method investment	-	34,087	-	-	-	34,087
Other	-	-	24,949	-	-	24,949
Intercompany receivables/payables	9,396	112,859	(74,398)	(47,857)	-	-

Net cash provided by (used in) investing activities	9,396	(116,230)	(469,579)	(20,779)	-	(597,192)

Cash flows from financing activities:
Net payments on revolving line of credit	-	(75,000)	-	-	-	(75,000)
Proceeds from long-term debt	-	400,000	-	-	-	400,000
Principal payments on long-term debt	-	(5,000)	-	(12,546)	-	(17,546)
Payment of debt acquisition costs	-	(25,091)	-	-	-	(25,091)
Proceeds from exercise of stock options	13,652	-	-	-	-	13,652
Excess tax benefit from stock-based compensation	1,279	-	-	-	-	1,279
Proceeds from issuance of stock through employee benefit plans	1,406	-	-	-	-	1,406
Other	(390)	(2,463)	-	(1,730)	-	(4,583)

Net cash provided by (used in) financing activities	15,947	292,446	-	(14,276)	-	294,117

Effect of exchange rate changes on cash	-	-	-	333	-	333

Net increase (decrease) in cash and cash equivalents	-	45,754	(444)	17,453	-	62,763

Cash and cash equivalents at beginning of period	-	29,057	6,272	44,945	-	80,274

Cash and cash equivalents at end of period	$ -	$ 74,811	$ 5,828	$ 62,398	$ -	$ 143,037

- 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

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2012

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

Fair value estimates recorded for the identifiable intangible assets



	Estimated Fair Value	Estimated Useful Life

Customer relationships	$ 315,000	17 years
Trade names	35,000	10 years

Total identifiable intangible assets	$ 350,000

Supplemental pro forma results



	Revenue	Net income from continuing operations	Basic earnings per share	Diluted earnings per share

Actual results from date of acquisition through
the period ended June 30, 2012	$ 1,055,442	$ 140,212	$ 0.99	$ 0.98

Supplemental pro forma for the Company:

Six months ended June 30, 2012	$ 2,467,102	$ 242,206	$ 1.55	$ 1.53

Three months ended June 30, 2011	$ 1,013,619	$ 93,590	$ 0.61	$ 0.60

Six months ended June 30, 2011	$ 1,868,865	$ 137,669	$ 0.89	$ 0.88

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References + Details

Dispositions (Tables)

6 Months Ended

Jun. 30, 2012

Dispositions [Abstract]

Components of income (loss) from discontinued operations



	Three Months		Six Months
	2012	2011	2012	2011

Revenues	$ -	$ 30,913	$ 16,231	$ 59,898

Income (loss) from discontinued operations before income tax	(1,514)	4,660	(8,249)	10,799

Income tax expense (benefit)	(544)	1,679	(1,771)	3,898

Gain (loss) on disposition, net of tax (benefit) expense of ($2,391)
for the six months ended June 30, 2012, and $2,131 and $3,098
for the three and six months ended June 30, 2011, respectively	-	3,753	(10,729)	5,459

Income (loss) from discontinued operations, net of tax	$ (970)	$ 6,734	$ (17,207)	$ 12,360

Assets and liabilities of disposal groups



Accounts receivable, net		$ 16,342
Prepaid expenses		1,900
Inventory and other current assets		2,371
Current assets of discontinued operations		$ 20,613

Property, plant and equipment, net		170,222
Goodwill		9,740
Intangible and other long-term assets, net		3,875
Long-term assets of discontinued operations		$ 183,837

Accounts payable		$ 1,231
Accrued expenses		13,421
Current maturities of long-term debt		810
Current liabilities of discontinued operations		$ 15,462

Long-term debt		$ 11,736

Decommissioning Liabilities (Tables)

6 Months Ended

Jun. 30, 2012

Decommissioning Liabilities [Abstract]

Summary the activity for company's decommissioning liabilities



	Six Months Ended
	June 30,
	2012	2011

Decommissioning liabilities, December 31, 2011 and 2010, respectively	$ 123,176	$ 117,716
Liabilities acquired and incurred	3,573	-
Liabilities settled	(4,578)	-
Accretion	2,113	3,336
Revision in estimated liabilities	(34,373)	-

Total decommissioning liabilities, June 30, 2012 and 2011, respectively	89,911	121,052

Less: current portion of decommissioning liabilities at June 30, 2012 and 2011, respectively	-	17,172

Long-term decommissioning liabilities, June 30, 2012 and 2011, respectively	$ 89,911	$ 103,880

Segment Information (Tables)

6 Months Ended

Jun. 30, 2012

Segment Information [Abstract]

Summary of financial information for the Company's segments


Three Months Ended June 30, 2012

	Subsea and	Drilling
	Well	Products and		Consolidated
	Enhancement	Services	Unallocated	Total

Revenues	$ 1,045,169	$ 198,150	$ -	$ 1,243,319
Cost of services
(exclusive of items shown separately below)	644,799	66,485	-	711,284
Depreciation, depletion, amortization and accretion	98,260	37,256	-	135,516
General and administrative expenses	122,426	35,093	-	157,519
Income from operations	179,684	59,316	-	239,000
Interest income (expense), net	228	-	(30,405)	(30,177)
Gain on sale of equity-method investment	-	-	17,880	17,880

Income (loss) from continuing operations
before income taxes	$ 179,912	$ 59,316	$ (12,525)	$ 226,703



Three Months Ended June 30, 2011

	Subsea and	Drilling
	Well	Products and		Consolidated
	Enhancement	Services	Unallocated	Total

Revenues	$ 330,726	$ 149,167	$ -	$ 479,893
Cost of services
(exclusive of items shown separately below)	194,040	56,627	-	250,667
Depreciation, depletion, amortization and accretion	27,571	32,449	-	60,020
General and administrative expenses	63,107	30,708	-	93,815
Income from operations	46,008	29,383	-	75,391
Interest income (expense), net	1,126	-	(17,389)	(16,263)
Earnings from equity-method
investments, net	-	-	5,499	5,499

Income (loss) from continuing operations
before income taxes	$ 47,134	$ 29,383	$ (11,890)	$ 64,627



Six Months Ended June 30, 2012

	Subsea and	Drilling
	Well	Products and		Consolidated
	Enhancement	Services	Unallocated	Total

Revenues	$ 1,822,649	$ 387,507	$ -	$ 2,210,156
Cost of services
(exclusive of items shown separately below)	1,129,000	129,051	-	1,258,051
Depreciation, depletion, amortization and accretion	164,696	73,416	-	238,112
General and administrative expenses	265,045	68,495	-	333,540
Income from operations	263,908	116,545	-	380,453
Interest income (expense), net	1,409	-	(61,392)	(59,983)
Losses from equity-method
investments, net	-	-	(287)	(287)
Gain on sale of equity-method investment	-	-	17,880	17,880

Income (loss) from continuing operations
before income taxes	$ 265,317	$ 116,545	$ (43,799)	$ 338,063



Six Months Ended June 30, 2011

	Subsea and	Drilling
	Well	Products and		Consolidated
	Enhancement	Services	Unallocated	Total

Revenues	$ 587,453	$ 277,437	$ -	$ 864,890
Cost of services
(exclusive of items shown separately below)	364,365	103,324	-	467,689
Depreciation, depletion, amortization and accretion	52,832	63,012	-	115,844
General and administrative expenses	118,090	60,340	-	178,430
Income from operations	52,166	50,761	-	102,927
Interest income (expense), net	2,235	-	(30,650)	(28,415)
Earnings from equity-method
investments, net	-	-	5,526	5,526

Income (loss) from continuing operations
before income taxes	$ 54,401	$ 50,761	$ (25,124)	$ 80,038

Identifiable Assets



Identifiable Assets

	Subsea and	Drilling
	Well	Products and			Consolidated
	Enhancement	Services	Marine	Unallocated	Total

June 30, 2012	$ 6,543,166	$ 1,013,538	$ -	$ 47,113	$ 7,603,817

December 31, 2011	$ 2,863,550	$ 947,679	$ 164,444	$ 72,472	$ 4,048,145

Company's information by geographic area



Revenues:	Three Months Ended June 30,		Six Months Ended June 30,
	2012	2011	2012	2011

United States	$ 1,053,789	$ 349,084	$ 1,849,560	$ 638,041
Other Countries	189,530	130,809	360,596	226,849

Total	$ 1,243,319	$ 479,893	$ 2,210,156	$ 864,890

Long-Lived Assets:	June 30,	December 31,
	2012	2011

United States	$ 2,435,246	$ 1,060,483
Other Countries	487,547	446,885

Total, net	$ 2,922,793	$ 1,507,368

- 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)

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

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



		Fair Value Measurements at Reporting Date Using
	June 30, 2012	Level 1	Level 2	Level 3

Available-for-sale securities	$ 47,113	$ 47,113	-	-

Intangible and other long-term assets
Non-qualified deferred compensation assets	$ 10,928	$ 825	$ 10,103	-
Interest rate swap	$ 641	-	$ 641	-

Accounts payable
Non-qualified deferred compensation liabilities	$ 2,385	-	$ 2,385	-
Contingent consideration	$ 6,306	-	-	$ 6,306

Other long-term liabilities
Non-qualified deferred compensation liabilities	$ 13,184	-	$ 13,184	-

	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	-

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Derivative Financial Instruments [Abstract]

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



		Amount of (gain) loss recognized

	Location of (gain) loss recognized	Three Months Ended June 30, 2012	Three Months Ended June 30, 2011

Interest rate swap	Interest expense, net	$ (3,156)	$ (636)
Hedged item - debt	Interest expense, net	2,515	270
		$ (641)	$ (366)



	Location of (gain) loss recognized	Six Months Ended June 30, 2012	Six Months Ended June 30, 2012

Interest rate swap	Interest expense, net	$ (3,156)	$ (120)
Hedged item - debt	Interest expense, net	2,515	(621)
		$ (641)	$ (741)

- 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 Related to Guarantor Subsidiaries (Tables)

6 Months Ended

Jun. 30, 2012

Jun. 30, 2011

Financial Information Related to Guarantor Subsidiaries [Abstract]

Consolidating Balance Sheets


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Balance Sheets
June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$ -	$ 74,811	$ 5,828	$ 62,398	$ -	$ 143,037
Accounts receivable, net	-	493	910,311	211,460	(57,234)	1,065,030
Prepaid expenses	113	8,726	38,295	39,600	-	86,734
Inventory and other current assets	-	1,833	268,435	16,520	-	286,788

Total current assets	113	85,863	1,222,869	329,978	(57,234)	1,581,589

Property, plant and equipment, net	-	6,760	2,347,723	568,310	-	2,922,793
Goodwill	-	-	2,119,476	383,925	-	2,503,401
Notes receivable	-	-	43,432	-	-	43,432
Available-for-sale securities	-	47,113	-	-	-	47,113
Investments in subsidiaries	1,953,243	4,130,558	211,469	-	(6,295,270)	-
Intangible and other long-term assets, net	-	62,811	378,149	64,529	-	505,489

Total assets	$ 1,953,356	$ 4,333,105	$ 6,323,118	$ 1,346,742	$ (6,352,504)	$ 7,603,817

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$ -	$ 5,825	$ 217,519	$ 109,112	$ (51,199)	$ 281,257
Accrued expenses	107	48,806	189,160	58,788	(6,052)	290,809
Income taxes payable	116,306	-	-	1,857	-	118,163
Deferred income taxes	3,907	-	-	-	-	3,907
Current maturities of long-term debt	-	20,000	-	-	-	20,000

Total current liabilities	120,320	74,631	406,679	169,757	(57,251)	714,136

Deferred income taxes	665,168	-	-	15,100	-	680,268
Decommissioning liabilities	-	-	87,670	2,241	-	89,911
Long-term debt, net	-	1,973,669	-	-	-	1,973,669
Intercompany payables/(receivables)	(2,877,833)	300,447	2,433,041	307,992	(163,647)	-
Other long-term liabilities	5,954	31,118	24,909	44,105	-	106,086

Stockholders' equity:
Preferred stock of $.01 par value	-	-	-	-	-	-
Common stock of $.001 par value	157	-	782	4,212	(4,994)	157
Additional paid in capital	2,840,215	124,271	687,939	688,621	(1,500,831)	2,840,215
Accumulated other comprehensive
income (loss), net	(29,847)	(29,846)	(456)	(27,006)	57,309	(29,846)
Retained earnings (accumulated deficit)	1,229,222	1,858,815	2,682,554	141,720	(4,683,090)	1,229,221

Total stockholders' equity (deficit)	4,039,747	1,953,240	3,370,819	807,547	(6,131,606)	4,039,747

Total liabilities and stockholders' equity	$ 1,953,356	$ 4,333,105	$ 6,323,118	$ 1,346,742	$ (6,352,504)	$ 7,603,817

Consolidating Statements of Operations and Consolidating Statements of Comprehensive Income


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Operations
Three Months Ended June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Revenues	$ -	$ -	$ 1,094,587	$ 188,681	$ (39,949)	$ 1,243,319

Cost of services (exclusive of items shown
separately below)	-	-	628,658	122,532	(39,906)	711,284
Depreciation, depletion, amortization and
accretion	-	178	116,383	18,955	-	135,516
General and administrative expenses	132	26,278	107,285	23,867	(43)	157,519

Income (loss) from operations	(132)	(26,456)	242,261	23,327	-	239,000

Other income (expense):
Interest expense, net	-	(29,247)	(146)	(784)	-	(30,177)
Earnings (losses) from consolidated subsidiaries	218,464	256,287	15,790	-	(490,541)	-
Gain on sale of equity-method investment	-	17,880	-	-	-	17,880

Income (loss) from continuing operations before
income taxes	218,332	218,464	257,905	22,543	(490,541)	226,703

Income taxes	77,022	-	-	6,858	-	83,880

Net income (loss) from continuing operations	141,310	218,464	257,905	15,685	(490,541)	142,823

Discontinued operations, net of income tax	544	-	(1,514)	-	-	(970)

Net income (loss)	$ 141,854	$ 218,464	$ 256,391	$ 15,685	$ (490,541)	$ 141,853


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Comprehensive Income
Three Months Ended June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Net income (loss)	$ 141,854	$ 218,464	$ 256,391	$ 15,685	$ (490,541)	$ 141,853
Unrealized net loss on investment securities, net of tax	-	(2,839)	-	-	-	(2,839)
Change in cumulative translation adjustment	(5,976)	(5,976)	-	(5,976)	11,952	(5,976)

Comprehensive income (loss)	$ 135,878	$ 209,649	$ 256,391	$ 9,709	$ (478,589)	$ 133,038



SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Operations
Three Months Ended June 30, 2011 *
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Revenues	$ -	$ -	$ 403,322	$ 97,298	$ (20,727)	$ 479,893

Cost of services (exclusive of items shown
separately below)	-	-	200,565	70,766	(20,664)	250,667
Depreciation, depletion, amortization and
accretion	-	129	48,672	11,219	-	60,020
General and administrative expenses	205	19,927	54,121	19,625	(63)	93,815

Income (loss) from operations	(205)	(20,056)	99,964	(4,312)	-	75,391

Other income (expense):
Interest expense, net	-	(17,499)	1,190	46	-	(16,263)
Intercompany interest income (expense)	-	6,605	-	(6,605)	-	-
Earnings (losses) from consolidated subsidiaries	72,534	98,608	547	-	(171,689)	-
Earnings (losses) from equity-method
investments, net	-	5,278	-	221	-	5,499

Income (loss) from continuing operations before
income taxes	72,329	72,936	101,701	(10,650)	(171,689)	64,627

Income taxes	20,402	-	-	2,850	-	23,252

Net income (loss) from continuing operations	51,927	72,936	101,701	(13,500)	(171,689)	41,375

Discontinued operations, net of income tax	(3,818)	(402)	10,967	(13)	-	6,734

Net income (loss)	$ 48,109	$ 72,534	$ 112,668	$ (13,513)	$ (171,689)	$ 48,109


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Comprehensive Income
Three Months Ended June 30, 2011 *
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Net income (loss)	$ 48,109	$ 72,534	$ 112,668	$ (13,513)	$ (171,689)	$ 48,109
Change in cumulative translation adjustment	711	711	-	711	(1,422)	711

Comprehensive income (loss)	$ 48,820	$ 73,245	$ 112,668	$ (12,802)	$ (173,111)	$ 48,820


* As adjusted for discontinued operations



SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Operations
Six Months Ended June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Revenues	$ -	$ -	$ 1,929,759	$ 363,733	$ (83,336)	$ 2,210,156

Cost of services (exclusive of items shown
separately below)	-	-	1,095,071	246,231	(83,251)	1,258,051
Depreciation, depletion, amortization and
accretion	-	369	202,323	35,420	-	238,112
General and administrative expenses	228	86,256	200,494	46,647	(85)	333,540

Income (loss) from operations	(228)	(86,625)	431,871	35,435	-	380,453

Other income (expense):
Interest expense, net	-	(59,730)	1,193	(1,446)	-	(59,983)
Earnings (losses) from consolidated subsidiaries	306,101	436,838	28,201	-	(771,140)	-
Earnings (losses) from equity-method
investments, net	-	(287)	-	-	-	(287)
Gain on sale of equity-method investment	-	17,880	-	-	-	17,880

Income (loss) from continuing operations before
income taxes	305,873	308,076	461,265	33,989	(771,140)	338,063

Income taxes	112,569	-	-	12,514	-	125,083

Net income (loss) from continuing operations	193,304	308,076	461,265	21,475	(771,140)	212,980

Discontinued operations, net of income tax	2,470	(1,975)	(14,693)	(3,009)	-	(17,207)

Net income (loss)	$ 195,774	$ 306,101	$ 446,572	$ 18,466	$ (771,140)	$ 195,773


SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Consolidating Statements of Comprehensive Income
Six Months Ended June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Net income (loss)	$ 195,774	$ 306,101	$ 446,572	$ 18,466	$ (771,140)	$ 195,773
Unrealized net loss on investment securities, net of tax	-	(2,839)	-	-	-	(2,839)
Change in cumulative translation adjustment	(71)	(71)	-	(71)	142	(71)

Comprehensive income (loss)	$ 195,703	$ 303,191	$ 446,572	$ 18,395	$ (770,998)	$ 192,863

Condensed Consolidating Statements of Cash Flows



SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Condensed Consolidating Statements of Cash Flows
Six Months Ended June 30, 2012
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Cash flows from operating activities:
Net income (loss)	$ 195,774	$ 306,101	$ 446,572	$ 18,466	$ (771,140)	$ 195,773
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation, depletion, amortization and accretion	-	369	203,431	35,557	-	239,357
Deferred income taxes	(15,686)	-	-	4,291	-	(11,395)
Excess tax benefit from stock-based compensation	(1,279)	-	-	-	-	(1,279)
Gain on sale of equity-method investment	-	(17,880)	-	-	-	(17,880)
Stock-based and performance share unit compensation
expense	-	13,725	-	-	-	13,725
Retirement and deferred compensation plan expense	-	1,412	-	-	-	1,412
(Earnings) losses from consolidated subsidiaries	(306,101)	(436,838)	(28,201)	-	771,140	-
(Earnings) losses from equity-method investments, net
of cash received	-	2,787	-	167	-	2,954
Amortization of debt acquisition costs and note
discount	-	4,846	-	-	-	4,846
Loss on sale of businesses	-	-	6,649	-	-	6,649
Other reconciling items, net	-	4,826	650	746	-	6,222
Changes in operating assets and liabilities, net
of acquisitions and dispositions:
Accounts receivable	-	38	(84,277)	(10,564)	-	(94,803)
Inventory and other current assets	-	(37)	(24,223)	(234)	-	(24,494)
Accounts payable	-	1,518	14,201	8,793	-	24,512
Accrued expenses	(58)	(7,380)	(57,631)	4,192	-	(60,877)
Decommissioning liabilities	-	-	(4,546)	(32)	-	(4,578)
Income taxes	102,086	-	-	(714)	-	101,372
Other, net	(79)	(3,949)	(3,490)	(8,493)	-	(16,011)

Net cash provided by (used in) operating activities	(25,343)	(130,462)	469,135	52,175	-	365,505

Cash flows from investing activities:
Payments for capital expenditures	-	(5,041)	(527,082)	(56,059)	-	(588,182)
Acquisitions of businesses, net of cash acquired	-	(1,229,327)	106,952	83,137	-	(1,039,238)
Change in restricted cash held for acquisition of business	-	785,280	-	-	-	785,280
Cash proceeds from sale of businesses	-	185,912	-	-	-	185,912
Cash proceeds from the sale of equity-method investment	-	34,087	-	-	-	34,087
Other	-	-	24,949	-	-	24,949
Intercompany receivables/payables	9,396	112,859	(74,398)	(47,857)	-	-

Net cash provided by (used in) investing activities	9,396	(116,230)	(469,579)	(20,779)	-	(597,192)

Cash flows from financing activities:
Net payments on revolving line of credit	-	(75,000)	-	-	-	(75,000)
Proceeds from long-term debt	-	400,000	-	-	-	400,000
Principal payments on long-term debt	-	(5,000)	-	(12,546)	-	(17,546)
Payment of debt acquisition costs	-	(25,091)	-	-	-	(25,091)
Proceeds from exercise of stock options	13,652	-	-	-	-	13,652
Excess tax benefit from stock-based compensation	1,279	-	-	-	-	1,279
Proceeds from issuance of stock through employee benefit plans	1,406	-	-	-	-	1,406
Other	(390)	(2,463)	-	(1,730)	-	(4,583)

Net cash provided by (used in) financing activities	15,947	292,446	-	(14,276)	-	294,117

Effect of exchange rate changes on cash	-	-	-	333	-	333

Net increase (decrease) in cash and cash equivalents	-	45,754	(444)	17,453	-	62,763

Cash and cash equivalents at beginning of period	-	29,057	6,272	44,945	-	80,274

Cash and cash equivalents at end of period	$ -	$ 74,811	$ 5,828	$ 62,398	$ -	$ 143,037



SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
Condensed Consolidating Statements of Cash Flows
Six Months Ended June 30, 2011
(in thousands)
(unaudited)

	Parent	Issuer	Guarantor Subsidiaries	Non-Guarantor Subsidiaries	Eliminations	Consolidated

Cash flows from operating activities:
Net income (loss)	$ 63,612	$ 95,961	$ 173,746	$ (24,251)	$ (245,456)	$ 63,612
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation, depletion, amortization and accretion	-	257	100,432	21,988	-	122,677
Deferred income taxes	7,801	-	-	1,094	-	8,895
Excess tax benefit from stock-based compensation	(10,262)	-	-	-	-	(10,262)
Stock-based and performance share unit compensation
expense	-	4,888	-	-	-	4,888
Retirement and deferred compensation plan expense	-	486	-	-	-	486
(Earnings) losses from consolidated subsidiaries	(95,961)	(148,314)	(1,181)	-	245,456	-
(Earnings) losses from equity-method investments, net
of cash received	-	(2,863)	-	(1,126)	-	(3,989)
Amortization of debt acquisition costs and note
discount	-	12,700	-	-	-	12,700
Gain on sale of businesses	-	-	(8,558)	-	-	(8,558)
Other reconciling items, net	-	(771)	(2,235)	-	-	(3,006)
Changes in operating assets and liabilities, net
of acquisitions and dispositions:
Accounts receivable	-	174	12,627	3,972	-	16,773
Inventory and other current assets	-	252	12,695	(2,282)	-	10,665
Accounts payable	-	583	(1,041)	1,410	-	952
Accrued expenses	(37)	(1,189)	2,111	9,724	-	10,609
Income taxes	6,680	-	-	(3,634)	-	3,046
Other, net	(71)	(2,475)	1,399	(351)	-	(1,498)

Net cash provided by (used in) operating activities	(28,238)	(40,311)	289,995	6,544	-	227,990

Cash flows from investing activities:
Payments for capital expenditures	-	(25)	(170,252)	(46,405)	-	(216,682)
Purchases of short-term investments, net	-	(164,130)	-	-	-	(164,130)
Cash proceeds from sale of businesses	-	-	22,349	-	-	22,349
Other	-	-	(6,134)	-	-	(6,134)
Intercompany receivables/payables	6,624	80,062	(136,722)	50,036	-	-

Net cash provided by (used in) investing activities	6,624	(84,093)	(290,759)	3,631	-	(364,597)

Cash flows from financing activities:
Net payments on revolving line of credit	-	(175,000)	-	-	-	(175,000)
Proceeds from issuance of long-term debt	-	500,000	-	-	-	500,000
Principal payments on long-term debt	-	-	-	(405)	-	(405)
Payment of debt acquisition costs	-	(9,363)	-	-	-	(9,363)
Proceeds from exercise of stock options	10,129	-	-	-	-	10,129
Excess tax benefit from stock-based compensation	10,262	-	-	-	-	10,262
Proceeds from issuance of stock through employee benefit plans	1,223	-	-	-	-	1,223
Other	-	(6,100)	-	(1,529)	-	(7,629)

Net cash provided by (used in) financing activities	21,614	309,537	-	(1,934)	-	329,217

Effect of exchange rate changes on cash	-	-	-	777	-	777

Net increase (decrease) in cash and cash equivalents	-	185,133	(764)	9,018	-	193,387	-

Cash and cash equivalents at beginning of period	-	-	5,493	45,234	-	50,727

Cash and cash equivalents at end of period	$ -	$ 185,133	$ 4,729	$ 54,252	$ -	$ 244,114

Acquisitions (Narrative) (Details) $ / shares in Units, $ in Thousands, shares in Millions	1 Months Ended	6 Months Ended	9 Months Ended
	Feb. 06, 2012 USD ($)	Jun. 30, 2012 USD ($) $ / shares shares	Jun. 30, 2012 USD ($) $ / shares
Business Acquisition [Line Items]
Goodwill acquired		$ 1,922,277	$ 1,922,277
Maximum additional consideration for acquisitions payable through 2012		9,500	9,500
Additional consideration attributable to acquisition		3,000	3,000
Complete Production Services Inc [Member]
Business Acquisition [Line Items]
Cash paid to acquire equity interest		$ 2,914,800	$ 2,914,800
Complete stockholders received of a share of the company's common stock		0.945	0.945
Business acquisition cost of acquired entity cash paid per share \| $ / shares		$ 7.00	$ 7.00
Approximately cash paid		$ 553,300	$ 553,300
Business acquisition Equity consideration paid number of shares \| shares		74.7
Approximately cash acquisition		$ 2,308,200	$ 2,308,200
Closing price of our common stock on the merger date \| $ / shares		$ 30.90	$ 30.90
Company will repay of complete debt		$ 676,000
Prepayment premium of senior notes		26,000
Senior notes		$ 650,000	$ 650,000
Stated interest rate on senior notes		8.00%	8.00%
Estimated Fair Value of Option Issued for Due to Conversion		1.1999	1.1999
Estimated Fair Value of Option and Restricted Stock Issued as Consideration		$ 58,100	$ 58,100
Fair value of options and restricted stock capitalized as part of total consideration		56,600	56,600
Estimated Fair Value of Option Recorded as Part of Consideration Transferred		52,700	52,700
Estimated Fair Value Of Option Recorded As Part Of Consideration Transferred Recorded As Expense		3,900
Amount expensed over remaining service term of replacement stock option awards		1,500
Estimated fair value of options and restricted stock related to pre-combination service recorded as expense		600	600
Additional amount of expensed over remaining service term of replacement restricted stock awards		18,200
Cash and accounts receivable, including unbilled receivables		214,600	214,600
Cash and accounts receivable, including unbilled receivables, at fair value		443,700	443,700
Gross amount due from customers		449,000	449,000
Customers deemed to be doubtful		5,300	5,300
Adjustment to present property, plant and equipment acquired at its estimated fair value		$ 45,800
Property, Plant and Equipment, Useful Life, Average		5 years
Goodwill recognized from this acquisition		$ 1,922,300
Overall adjustment to deferred tax		132,000
Total acquisition cost, expense recorded		29,000	$ 33,500
Non-recurring Expenses	$ 48,400	$ 77,100

Acquisitions (Consideration paid and the provisional fair value of the assets acquired and liabilities assumed) (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Feb. 07, 2012
Acquisitions [Abstract]
Current assets		$ 751,706
Property, plant and equipment	$ 1,223,448
Goodwill	1,922,277
Intangible and other long-term assets	370,377
Current liabilities	236,986
Deferred income taxes	435,904
Other long-term liabilities	4,125
Net assets acquired	$ 3,590,793

Acquisitions (Fair value estimates recorded for the identifiable intangible assets and their estimated useful lives) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2012 USD ($)
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 350,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 315,000
Estimated Useful Life	17 years
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 35,000
Estimated Useful Life	10 years

Acquisitions (Pro forma results) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Actual Results [Member]
Revenue		$ 1,055,442
Net income from continuing operations		$ 140,212
Basic earnings per share		$ 0.99
Diluted earnings per share		$ 0.98
Pro Forma [Member]
Revenue	$ 1,013,619	$ 2,467,102	$ 1,868,865
Net income from continuing operations	$ 93,590	$ 242,206	$ 137,669
Basic earnings per share	$ 0.61	$ 1.55	$ 0.89
Diluted earnings per share	$ 0.60	$ 1.53	$ 0.88

- Definition

The pro forma basic net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.

+ References + Details

- Definition

The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.

+ References + Details

Dispositions (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended		18 Months Ended
Dispositions (Narrative) (Details) $ in Thousands	Mar. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Jun. 30, 2012 USD ($) item	Mar. 31, 2012 USD ($)	Jun. 30, 2012 USD ($) item
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill		$ 9,740
Repayment Of Us Government Guaranteed Long Term Financing Connected To Disposition			$ 12,500
Make Whole Premiums Connected To Dispositions			4,000
Written Off Unamortized Loan Costs Connected To Repayments Of Make Whole Premiums			700
Assets of Disposal Group, Including Discontinued Operation, Noncurrent		183,837
Derrick Barge [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds received			44,500
Pre-tax gain loss after sale			3,100
Goodwill			9,700		$ 9,700
Liftboats [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds received			$ 141,400		22,300
Pre-tax gain loss after sale	$ 10,000	$ 46,100		$ 56,100	$ 8,600
Quantity of liftboats sold \| item			18		7
Repayment Of Us Government Guaranteed Long Term Financing Connected To Disposition			$ 12,500
Make Whole Premiums Connected To Dispositions			4,000
Written Off Unamortized Loan Costs Connected To Repayments Of Make Whole Premiums			$ 700
Loss on sale of assets, disposal group accounted for as discontinued operations	3,600
Costs Related To Disposition	$ 6,400

Dispositions (Components of income (loss) from discontinued operations, net of tax) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Dispositions [Abstract]
Revenues		$ 30,913	$ 16,231	$ 59,898
Income (loss) from discontinued operations before income tax	$ (1,514)	4,660	(8,249)	10,799
Income tax expense (benefit)	(544)	1,679	(1,771)	3,898
Gain (loss) on disposition, net of tax		3,753	(10,729)	5,459
Income (loss) from discontinued operations, net of tax	$ (970)	6,734	(17,207)	12,360
Gain (loss) on disposition, tax		$ 2,131	$ (2,090)	$ 3,102

- 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 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 2: 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 3: 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=18498875&loc=d3e38679-109324

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 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 6: 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 7: 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.

+ Details

- Definition

Amount of tax expense or benefit on gain (loss), not previously recognized, resulting from the sale of a business component.

+ References + Details

- Definition

Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, 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 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 2: 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

Reference 3: 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 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 SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 13
-Article 7

Reference 6: 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 7: 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 8: 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 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 15
-Article 5

+ Details

Dispositions (Assets and liabilities of disposal groups) (Details) $ in Thousands	Dec. 31, 2011 USD ($)
Dispositions [Abstract]
Accounts receivable, net	$ 16,342
Prepaid expenses	1,900
Inventory and other current assets	2,371
Current assets of discontinued operations	20,613
Property, plant and equipment, net	170,222
Goodwill	9,740
Intangible and other long-term assets, net	3,875
Long-term assets of discontinued operations	183,837
Accounts payable	1,231
Accrued expenses	13,421
Current maturities of long-term debt	810
Current liabilities of discontinued operations	15,462
Long term debt	$ 11,736

Stock-Based Compensation and Retirement Plans (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash paid to settle Performance Share Units	$ 2,700	$ 2,800
Issue of common stock to employees		67,300
Proceed from issue of shares under employee stock purchase plans	$ 1,406	$ 1,223
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment vesting period, years	3 years
Share-based payment expiration period, years	10 years
Compensation expense	$ 2,700	1,700
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment vesting period, years	3 years
Compensation expense	$ 8,400	2,800
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 1,500	600
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period of PSU grant, years	3 years
Compensation expense	$ 3,700	2,400
Portion of equivalent value in common stock of company after meeting service requirements, at discretion of compensation committee	50.00%
Issue of common stock to employees	43,300
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 200	200
Common stock reserved for issuance	1,250,000
Proceed from issue of shares under employee stock purchase plans	$ 1,400	$ 1,200
Shares issued under Employee Stock Purchase Plan, shares	65,000	38,000
Deferred Compensation, Share-based Payments [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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%
Non-employee cash deferred to non-qualified compensation plan	100.00%
Non-employee RSU deferred to non-qualified compensation plan	100.00%
Supplemental Executive Retirement Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 1,700	$ 900

Inventory and Other Current Assets (Details) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Inventory and Other Current Assets [Abstract]
Inventory	$ 132.1	$ 83.1
Finished Goods	59.7	39.0
Work in progress	5.4	2.3
Raw materials	4.5	5.4
Supplies and consumables	62.5	36.4
Costs incurred	$ 106.7	$ 133.4

Available for Sale Securities (Detials) shares in Millions	6 Months Ended
Available for Sale Securities (Detials) shares in Millions	Jun. 30, 2012 USD ($) shares
Available-for-sale Securities [Abstract]
Percentage of limited partnership interest	10.00%
Available-for-Sale Securities, Share Price	$ 7.33
Number of shares comprising Available for Sale Securities \| shares	7
Available-for-sale Securities, Equity Securities, Noncurrent	$ 47,113,000
Available-for-sale Equity Securities, Amortized Cost Basis	51,600,000
Equity Method Investment, Net Sales Proceeds	34,100,000
Available-for-sale Securities, Income Tax Expense on Change in Unrealized Holding Gain (Loss)	1,700,000
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss), Net of Tax	2,800,000
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss) before Taxes	$ 4,500,000

Equity-Method Investments (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	Feb. 28, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Schedule of Equity Method Investments [Line Items]
Percentage of limited partnership interest					10.00%
Equity-method investments							$ 72,472
Earnings (losses) from equity-method investments, net			$ 5,499		$ (287)	$ 5,526
Receivable from Dynamic Offshore							9,800
Receivable from Dynamic Offshore related to oil and natural gas commodity sales and production							14,000
Gain loss from Equity method investment		$ 17,880			$ 17,880
Dynamic Offshore [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of limited partnership interest					10.00%
Equity-method investments							$ 70,600
Earnings (losses) from equity-method investments, net				$ 4,200	$ 300
Revenue from equity-method investment				$ 15,600	$ 15,500
SPN Resources [Member]
Schedule of Equity Method Investments [Line Items]
Earnings (losses) from equity-method investments, net	$ 200
Revenue from equity-method investment	300
DBH [Member]
Schedule of Equity Method Investments [Line Items]
Earnings (losses) from equity-method investments, net	900
Revenue from equity-method investment	$ 900

Long-Term Contracts (Details) $ in Millions	6 Months Ended
Long-Term Contracts (Details) $ in Millions	Jun. 30, 2012 USD ($) item	Dec. 31, 2011 USD ($)
Business Acquisition [Line Items]
Contractual arrangements fixed sum	$ 750.0
Number of downed oil and gas platforms and related well facilities decommissioned \| item	7
Costs and estimated earnings in excess of billings included in other current assets	$ 106.7	$ 133.4
Shell Offshore Inc. [Member]
Business Acquisition [Line Items]
Percentage of ownership acquired by Wild Well in Shell Offshore Inc.'s Gulf of Mexico Bullwinkle platform	100.00%
Wild Well [Member]
Business Acquisition [Line Items]
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	50.3	50.2
Costs and estimated earnings in excess of billings included in other current assets	$ 100.0	$ 129.7

Debt (Details) $ in Millions	6 Months Ended
Debt (Details) $ in Millions	Jun. 30, 2012 USD ($)
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 600.0
Line of credit facility maximum borrowing capacity before amendment	400.0
Aggregate principal amount of term loan	400.0
Line of Credit Facility, Periodic Payment	5.0
Line of credit facility amendments cost	24.7
Letters of Credit Outstanding, Amount	50.5
Repayment Of Us Government Guaranteed Long Term Financing Connected To Disposition	12.5
Make Whole Premiums Connected To Dispositions	4.0
Written Off Unamortized Loan Costs Connected To Repayments Of Make Whole Premiums	0.7
Unsecured Senior Notes Due 2014 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 300.0
Stated interest rate on unsecured senior notes	6.875%
Unsecured Senior Notes Due 2019 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 500.0
Stated interest rate on unsecured senior notes	6.375%
Unsecured Senior Notes Due 2021 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 800.0
Stated interest rate on unsecured senior notes	7.125%

Earnings per Share (Details) - shares	3 Months Ended		6 Months Ended
Earnings per Share (Details) - shares	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Earnings Per Share [Abstract]
Stock options	2,090,000	190,000	1,010,000	190,000

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-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 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-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 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-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 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-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.

+ Details

Decommissioning Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Summary of the activity for the Company's decommissioning liabilities
Decommissioning liabilities	$ 3,600
Decommissioning liabilities, December 31, 2011 and 2010, respectively	123,176	$ 117,716
Liabilities acquired and incurred	3,573
Liabilities settled	(4,578)
Accretion	2,113	3,336
Revision estimated liabilities	(34,373)
Total decommissioning liabilities, June 30, 2012 and 2011, respectively	89,911	121,052
Less: current portion of decommissioning liabilities at June 30, 2012 and 2011, respectively		17,172	$ 14,956
Long-term decommissioning liabilities, June 30, 2012 and 2011, respectively	$ 89,911	$ 103,880	$ 108,220

Notes Receivable (Details) - USD ($) $ in Millions	6 Months Ended
Notes Receivable (Details) - USD ($) $ in Millions	Jun. 30, 2012	Jun. 30, 2011
Notes Receivable [Abstract]
Amount of notes receivable net	$ 115.0
Interest rate percentage to record present value of notes receivable	6.58%
Company recorded interest income	$ 1.4	$ 2.2

Segment Information (Financial information for Company's segments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Segment Reporting Information [Line Items]
Revenues	$ 1,243,319	$ 479,893	$ 2,210,156	$ 864,890
Cost of services (exclusive of items shown separately below)	711,284	250,667	1,258,051	467,689
Depreciation, depletion, amortization and accretion	135,516	60,020	238,112	115,844
General and administrative expenses	157,519	93,815	333,540	178,430
Income from operations	239,000	75,391	380,453	102,927
Interest income (expense), net	(30,177)	(16,263)	(59,983)	(28,415)
Earnings (losses) from equity-method investments, net		5,499	(287)	5,526
Gain loss from Equity method investment	17,880		17,880
Income (loss) from continuing operations before income taxes	226,703	64,627	338,063	80,038
Identifiable Assets	7,603,817		7,603,817		$ 4,048,145
Subsea and Well Enhancement [Member]
Segment Reporting Information [Line Items]
Revenues	1,045,169	330,726	1,822,649	587,453
Cost of services (exclusive of items shown separately below)	644,799	194,040	1,129,000	364,365
Depreciation, depletion, amortization and accretion	98,260	27,571	164,696	52,832
General and administrative expenses	122,426	63,107	265,045	118,090
Income from operations	179,684	46,008	263,908	52,166
Interest income (expense), net	228	1,126	1,409	2,235
Income (loss) from continuing operations before income taxes	179,912	47,134	265,317	54,401
Identifiable Assets	6,543,166		6,543,166		2,863,550
Drilling Products and Services [Member]
Segment Reporting Information [Line Items]
Revenues	198,150	149,167	387,507	277,437
Cost of services (exclusive of items shown separately below)	66,485	56,627	129,051	103,324
Depreciation, depletion, amortization and accretion	37,256	32,449	73,416	63,012
General and administrative expenses	35,093	30,708	68,495	60,340
Income from operations	59,316	29,383	116,545	50,761
Income (loss) from continuing operations before income taxes	59,316	29,383	116,545	50,761
Identifiable Assets	1,013,538		1,013,538		947,679
Marine [Member]
Segment Reporting Information [Line Items]
Identifiable Assets					164,444
Unallocated [Member]
Segment Reporting Information [Line Items]
Interest income (expense), net	(30,405)	(17,389)	(61,392)	(30,650)
Earnings (losses) from equity-method investments, net		5,499	(287)	5,526
Gain loss from Equity method investment	17,880		17,880
Income (loss) from continuing operations before income taxes	(12,525)	$ (11,890)	(43,799)	$ (25,124)
Identifiable Assets	$ 47,113		$ 47,113		$ 72,472

Segment Information (Company's information by geographic area) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Segment Information [Abstract]
United States, Revenue	$ 1,053,789	$ 349,084	$ 1,849,560	$ 638,041
Other Countries, Revenue	189,530	130,809	360,596	226,849
Total, Revenues	1,243,319	$ 479,893	2,210,156	$ 864,890
United States, Long-lived assets	2,435,246		2,435,246		$ 1,060,483
Other Countries, Long-lived assets	487,547		487,547		446,885
Total, Long-lived assets	$ 2,922,793		$ 2,922,793		$ 1,507,368

Guarantee (Details) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Guarantee [Abstract]
Decommissioning performance guarantees, estimated value	$ 2.6	$ 2.6
Maximum potential obligation under Decommissioning performance guarantees	136.7
Contractual right to receive payments from third parties	$ 24.6

Fair Value Measurements (Narrative) (Details) shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2012 USD ($) shares	Mar. 31, 2012 USD ($)	Feb. 29, 2012 USD ($)	Dec. 31, 2011 USD ($)
Fair Value Measurements [Abstract]
Percentage of limited partnership interest	10.00%
Adjustment Interval of Variable Rate on Interest Rate Swap	90
Number of shares comprising Available for Sale Securities \| shares	7
Interest rate swap agreement for notional amount	$ 100.0		$ 150.0
Selling of interest rate swap			$ 1.2
Liabilities assumed in acquisition	6.3
Fair value of long term debt	$ 2,046.0	$ 2.0		$ 1,749.8

Fair Value Measurements (Financial assets and liabilities measured at fair value on a recurring basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	$ 641
Available-for-sale Securities, Fair Value Disclosure	47,113
Non-Qualified Deferred Compensation Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	10,928	$ 10,597
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets		1,904
Non Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable	2,385	2,790
Other long-term liabilities	13,184	12,975
Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable	6,306
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets
Available-for-sale Securities, Fair Value Disclosure	47,113
Level 1 [Member] \| Non-Qualified Deferred Compensation Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	825	815
Level 1 [Member] \| Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets
Level 1 [Member] \| Non Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable
Other long-term liabilities
Level 1 [Member] \| Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	641
Available-for-sale Securities, Fair Value Disclosure
Level 2 [Member] \| Non-Qualified Deferred Compensation Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets	10,103	9,782
Level 2 [Member] \| Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets		1,904
Level 2 [Member] \| Non Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable	2,385	2,790
Other long-term liabilities	13,184	12,975
Level 2 [Member] \| Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets
Available-for-sale Securities, Fair Value Disclosure
Level 3 [Member] \| Non-Qualified Deferred Compensation Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets
Level 3 [Member] \| Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible and other long-term assets
Level 3 [Member] \| Non Qualified Deferred Compensation Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable
Other long-term liabilities
Level 3 [Member] \| Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accounts payable	$ 6,306

Derivative Financial Instruments (Narrative) (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2012 USD ($)	Mar. 31, 2012 USD ($)	Feb. 29, 2012 USD ($)	Dec. 31, 2011 USD ($)
Derivatives, Fair Value [Line Items]
Adjustment Interval of Variable Rate on Interest Rate Swap	90
Derivative asset	$ 0.6
Selling of interest rate swap			$ 1.2
Interest income (expense) related to the ineffectiveness associated with the fair value hedge	0.6	$ 0.7
Interest rate swap agreement for notional amount	100.0		$ 150.0
Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Derivative asset	150.0
Selling of interest rate swap	$ 1.2
Intangible and Other Long Term Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset				$ 1.9

Derivative Financial Instruments (The location and effect of the derivative instrument on the condensed consolidated statement of operations, pre-tax basis) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Derivative Instruments, (Gain) Loss [Line Items]
Amount of (gain) loss recognized	$ (641)	$ (366)	$ (641)	$ (741)
Hedged Item Debt [Member] \| Interest Expense, Net [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Amount of (gain) loss recognized	2,515	270	2,515	(621)
Interest Rate Swap [Member] \| Interest Expense, Net [Member]
Derivative Instruments, (Gain) Loss [Line Items]
Amount of (gain) loss recognized	$ (3,156)	$ (636)	$ (3,156)	$ (120)

- 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

Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Income Taxes [Abstract]
Unrecorded tax benefits	$ 22.3	$ 21.7

Commitments and Contingencies (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011	Jan. 26, 2010
Commitments and Contingencies (Textual) [Abstract]
Period for Lease Renewal	2 years
Interest of Subsidiary in Lease Assets Owned Entity	5.00%
Vessel's gross asset value under the capital lease at inception				$ 37.6
Vessel's gross asset value under the capital lease at depreciation	$ 14.3		$ 12.2
Other long-term liabilities	27.6		29.5
Accounts Payable Related to Obligations Under Capital Lease	3.7		$ 3.6
2012	1.8
2013	3.9
2014	4.2
2015	4.6
2016	5.0
2017	$ 5.4
Capital Leases of Lessee Variable Rate of Interest	8.50%
Interest Expense	$ 1.4	$ 1.5

Related Party Disclosure (Details) $ in Millions	6 Months Ended
Related Party Disclosure (Details) $ in Millions	Jun. 30, 2012 USD ($)
Schedule of Equity Method Investments [Line Items]
Purchase of services	$ 133.2
Trade Accounts Payable	19.8
Ortowski Construction [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services	2.1
Trade Accounts Payable	0.1
ORTEQ Energy Services [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services	63.8
Trade Accounts Payable	7.3
Resource Transport [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services	5.0
Trade Accounts Payable	1.0
Texas Specialty Sands [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services	52.6
Trade Accounts Payable	9.6
ProFuel LLC [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of services	9.7
Trade Accounts Payable	$ 1.8

- Definition

Amount for accounts payable to related parties.

+ References + Details

Financial Information Related to Guarantor Subsidiaries (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 30, 2012	Dec. 31, 2011
Condensed Financial Statements, Captions [Line Items]
Common stock, par value	$ 0.001	$ 0.001
Preferred stock, par value	$ 0.01	$ 0.01
Unsecured Senior Notes Due 2019 [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on unsecured senior notes	6.375%
Unsecured Senior Notes Due 2019 [Member] \| Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Unsecured senior notes, issued	$ 500
Stated interest rate on unsecured senior notes	6.375%
Unsecured Senior Notes Due 2021 [Member]
Condensed Financial Statements, Captions [Line Items]
Stated interest rate on unsecured senior notes	7.125%
Unsecured Senior Notes Due 2021 [Member] \| Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Unsecured senior notes, issued	$ 800
Stated interest rate on unsecured senior notes	7.125%
SESI LLC [Member] \| Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Wholly owned subsidiary of Parent company	100.00%

Financial Information Related to Guarantor Subsidiaries (Balance Sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011	Dec. 31, 2010
Current assets:
Cash and cash equivalents	$ 143,037	$ 80,274	$ 244,114	$ 50,727
Accounts receivable, net	1,065,030	540,602
Prepaid expenses	86,734	34,037
Inventory and other current assets	286,788	228,309
Total current assets	1,581,589	883,222
Property, plant and equipment, net	2,922,793	1,507,368
Goodwill	2,503,401	581,379
Notes receivable	43,432	73,568
Available-for-sale Securities, Equity Securities, Noncurrent	47,113
Investments in subsidiaries
Equity-method investments		72,472
Intangible and other long-term assets, net	505,489	930,136
Total assets	7,603,817	4,048,145
Current liabilities:
Accounts payable	281,257	178,645
Accrued expenses	290,809	197,574
Income taxes payable	118,163	717
Deferred income taxes	3,907	831
Current portion of decommissioning liabilities		14,956	17,172
Current maturities of long-term debt	20,000	810
Total current liabilities	714,136	393,533
Deferred income taxes	680,268	297,458
Decommissioning liabilities	89,911	108,220	103,880
Long-term debt, net	1,973,669	1,685,087
Intercompany payables/(receivables)
Other long-term liabilities	106,086	110,248
Stockholders' equity:
Preferred stock of $.01 par value
Common stock of $.001 par value	157	80
Additional paid in capital	2,840,215	447,007
Accumulated other comprehensive income (loss), net	(29,846)	(26,936)
Retained earnings (accumulated deficit)	1,229,221	1,033,448
Total stockholders' equity	4,039,747	1,453,599
Total liabilities and stockholders' equity	7,603,817	4,048,145
Parent [Member]
Current assets:
Cash and cash equivalents
Accounts receivable, net
Prepaid expenses	113	34
Inventory and other current assets
Total current assets	113	34
Property, plant and equipment, net
Goodwill
Notes receivable
Available-for-sale Securities, Equity Securities, Noncurrent
Investments in subsidiaries	1,953,243	1,650,049
Intangible and other long-term assets, net
Total assets	1,953,356	1,650,083
Current liabilities:
Accounts payable
Accrued expenses	107	164
Income taxes payable	116,306	1,415
Deferred income taxes	3,907	831
Current maturities of long-term debt
Total current liabilities	120,320	2,410
Deferred income taxes	665,168	285,871
Decommissioning liabilities
Long-term debt, net
Intercompany payables/(receivables)	(2,877,833)	(96,989)
Other long-term liabilities	5,954	5,192
Stockholders' equity:
Preferred stock of $.01 par value
Common stock of $.001 par value	157	80
Additional paid in capital	2,840,215	447,007
Accumulated other comprehensive income (loss), net	(29,847)	(26,936)
Retained earnings (accumulated deficit)	1,229,222	1,033,448
Total stockholders' equity	4,039,747	1,453,599
Total liabilities and stockholders' equity	1,953,356	1,650,083
Issuer [Member]
Current assets:
Cash and cash equivalents	74,811	29,057	185,133
Accounts receivable, net	493	531
Prepaid expenses	8,726	3,893
Inventory and other current assets	1,833	1,796
Total current assets	85,863	35,277
Property, plant and equipment, net	6,760	2,758
Goodwill
Notes receivable
Available-for-sale Securities, Equity Securities, Noncurrent	47,113
Investments in subsidiaries	4,130,558	2,833,659
Equity-method investments		70,614
Intangible and other long-term assets, net	62,811	828,447
Total assets	4,333,105	3,770,755
Current liabilities:
Accounts payable	5,825	4,307
Accrued expenses	48,806	54,000
Income taxes payable
Deferred income taxes
Current maturities of long-term debt	20,000
Total current liabilities	74,631	58,307
Deferred income taxes
Decommissioning liabilities
Long-term debt, net	1,973,669	1,673,351
Intercompany payables/(receivables)	300,447	356,668
Other long-term liabilities	31,118	32,380
Stockholders' equity:
Preferred stock of $.01 par value
Common stock of $.001 par value
Additional paid in capital	124,271	124,271
Accumulated other comprehensive income (loss), net	(29,846)	(26,936)
Retained earnings (accumulated deficit)	1,858,815	1,552,714
Total stockholders' equity	1,953,240	1,650,049
Total liabilities and stockholders' equity	4,333,105	3,770,755
Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	5,828	6,272	4,729	5,493
Accounts receivable, net	910,311	437,963
Prepaid expenses	38,295	9,796
Inventory and other current assets	268,435	214,381
Total current assets	1,222,869	668,412
Property, plant and equipment, net	2,347,723	1,096,036
Goodwill	2,119,476	437,614
Notes receivable	43,432	73,568
Available-for-sale Securities, Equity Securities, Noncurrent
Investments in subsidiaries	211,469	20,062
Intangible and other long-term assets, net	378,149	71,625
Total assets	6,323,118	2,367,317
Current liabilities:
Accounts payable	217,519	128,996
Accrued expenses	189,160	105,512
Income taxes payable
Deferred income taxes
Current portion of decommissioning liabilities		14,956
Current maturities of long-term debt
Total current liabilities	406,679	249,464
Deferred income taxes
Decommissioning liabilities	87,670	108,220
Long-term debt, net
Intercompany payables/(receivables)	2,433,041	(253,053)
Other long-term liabilities	24,909	26,704
Stockholders' equity:
Preferred stock of $.01 par value
Common stock of $.001 par value	782
Additional paid in capital	687,939
Accumulated other comprehensive income (loss), net	(456)
Retained earnings (accumulated deficit)	2,682,554	2,235,982
Total stockholders' equity	3,370,819	2,235,982
Total liabilities and stockholders' equity	6,323,118	2,367,317
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	62,398	44,945	54,252	45,234
Accounts receivable, net	211,460	143,444
Income taxes receivable		698
Prepaid expenses	39,600	20,314
Inventory and other current assets	16,520	12,132
Total current assets	329,978	221,533
Property, plant and equipment, net	568,310	408,574
Goodwill	383,925	143,765
Notes receivable
Available-for-sale Securities, Equity Securities, Noncurrent
Investments in subsidiaries
Equity-method investments		1,858
Intangible and other long-term assets, net	64,529	30,064
Total assets	1,346,742	805,794
Current liabilities:
Accounts payable	109,112	86,723
Accrued expenses	58,788	38,503
Income taxes payable	1,857
Deferred income taxes
Current maturities of long-term debt		810
Total current liabilities	169,757	126,036
Deferred income taxes	15,100	11,587
Decommissioning liabilities	2,241
Long-term debt, net		11,736
Intercompany payables/(receivables)	307,992	(7,276)
Other long-term liabilities	44,105	45,972
Stockholders' equity:
Preferred stock of $.01 par value
Common stock of $.001 par value	4,212	4,212
Additional paid in capital	688,621	517,209
Accumulated other comprehensive income (loss), net	(27,006)	(26,936)
Retained earnings (accumulated deficit)	141,720	123,254
Total stockholders' equity	807,547	617,739
Total liabilities and stockholders' equity	1,346,742	805,794
Consolidation, Eliminations [Member]
Current assets:
Cash and cash equivalents
Accounts receivable, net	(57,234)	(41,336)
Income taxes receivable		(698)
Prepaid expenses
Inventory and other current assets
Total current assets	(57,234)	(42,034)
Property, plant and equipment, net
Goodwill
Notes receivable
Available-for-sale Securities, Equity Securities, Noncurrent
Investments in subsidiaries	(6,295,270)	(4,503,770)
Intangible and other long-term assets, net
Total assets	(6,352,504)	(4,545,804)
Current liabilities:
Accounts payable	(51,199)	(41,381)
Accrued expenses	(6,052)	(605)
Income taxes payable		(698)
Deferred income taxes
Current maturities of long-term debt
Total current liabilities	(57,251)	(42,684)
Deferred income taxes
Decommissioning liabilities
Long-term debt, net
Intercompany payables/(receivables)	(163,647)	650
Other long-term liabilities
Stockholders' equity:
Preferred stock of $.01 par value
Common stock of $.001 par value	(4,994)	(4,212)
Additional paid in capital	(1,500,831)	(641,480)
Accumulated other comprehensive income (loss), net	57,309	53,872
Retained earnings (accumulated deficit)	(4,683,090)	(3,911,950)
Total stockholders' equity	(6,131,606)	(4,503,770)
Total liabilities and stockholders' equity	$ (6,352,504)	$ (4,545,804)

Financial Information Related to Guarantor Subsidaries (Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 1,243,319	$ 479,893	$ 2,210,156	$ 864,890
Cost of services (exclusive of items shown separately below)	711,284	250,667	1,258,051	467,689
Depreciation, depletion, amortization and accretion	135,516	60,020	238,112	115,844
General and administrative expenses	157,519	93,815	333,540	178,430
Income (loss) from operations	239,000	75,391	380,453	102,927
Other income (expense):
Interest expense, net	(30,177)	(16,263)	(59,983)	(28,415)
Intercompany interest income (expense)
Earnings (losses) from consolidated subsidiaries
Earnings (losses) from equity-method investments, net		5,499	(287)	5,526
Gain loss from Equity method investment	17,880		17,880
Income (loss) from continuing operations before income taxes	226,703	64,627	338,063	80,038
Income taxes	83,880	23,252	125,083	28,786
Net income (loss) from continuing operations	142,823	41,375	212,980	51,252
Discontinued operations, net of income tax	(970)	6,734	(17,207)	12,360
Net income	141,853	48,109	195,773	63,612
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues
Cost of services (exclusive of items shown separately below)
Depreciation, depletion, amortization and accretion
General and administrative expenses	132	205	228	530
Income (loss) from operations	(132)	(205)	(228)	(530)
Other income (expense):
Interest expense, net
Intercompany interest income (expense)
Earnings (losses) from consolidated subsidiaries	218,464	72,534	306,101	95,961
Earnings (losses) from equity-method investments, net
Gain loss from Equity method investment
Income (loss) from continuing operations before income taxes	218,332	72,329	305,873	95,431
Income taxes	77,022	20,402	112,569	24,789
Net income (loss) from continuing operations	141,310	51,927	193,304	70,642
Discontinued operations, net of income tax	544	(3,818)	2,470	(7,030)
Net income	141,854	48,109	195,774	63,612
Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues
Cost of services (exclusive of items shown separately below)
Depreciation, depletion, amortization and accretion	178	129	369	257
General and administrative expenses	26,278	19,927	86,256	38,480
Income (loss) from operations	(26,456)	(20,056)	(86,625)	(38,737)
Other income (expense):
Interest expense, net	(29,247)	(17,499)	(59,730)	(30,060)
Intercompany interest income (expense)		6,605		12,811
Earnings (losses) from consolidated subsidiaries	256,287	98,608	436,838	148,314
Earnings (losses) from equity-method investments, net		5,278	(287)	4,400
Gain loss from Equity method investment	17,880		17,880
Income (loss) from continuing operations before income taxes	218,464	72,936	308,076	96,728
Income taxes
Net income (loss) from continuing operations	218,464	72,936	308,076	96,728
Discontinued operations, net of income tax		(402)	(1,975)	(767)
Net income	218,464	72,534	306,101	95,961
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	1,094,587	403,322	1,929,759	725,977
Cost of services (exclusive of items shown separately below)	628,658	200,565	1,095,071	377,410
Depreciation, depletion, amortization and accretion	116,383	48,672	202,323	94,097
General and administrative expenses	107,285	54,121	200,494	104,391
Income (loss) from operations	242,261	99,964	431,871	150,079
Other income (expense):
Interest expense, net	(146)	1,190	1,193	2,270
Intercompany interest income (expense)
Earnings (losses) from consolidated subsidiaries	15,790	547	28,201	1,181
Earnings (losses) from equity-method investments, net
Gain loss from Equity method investment
Income (loss) from continuing operations before income taxes	257,905	101,701	461,265	153,530
Income taxes
Net income (loss) from continuing operations	257,905	101,701	461,265	153,530
Discontinued operations, net of income tax	(1,514)	10,967	(14,693)	20,216
Net income	256,391	112,668	446,572	173,746
Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	188,681	97,298	363,733	174,999
Cost of services (exclusive of items shown separately below)	122,532	70,766	246,231	126,238
Depreciation, depletion, amortization and accretion	18,955	11,219	35,420	21,490
General and administrative expenses	23,867	19,625	46,647	35,156
Income (loss) from operations	23,327	(4,312)	35,435	(7,885)
Other income (expense):
Interest expense, net	(784)	46	(1,446)	(625)
Intercompany interest income (expense)		(6,605)		(12,811)
Earnings (losses) from consolidated subsidiaries
Earnings (losses) from equity-method investments, net		221		1,126
Gain loss from Equity method investment
Income (loss) from continuing operations before income taxes	22,543	(10,650)	33,989	(20,195)
Income taxes	6,858	2,850	12,514	3,997
Net income (loss) from continuing operations	15,685	(13,500)	21,475	(24,192)
Discontinued operations, net of income tax		(13)	(3,009)	(59)
Net income	15,685	(13,513)	18,466	(24,251)
Consolidation, Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	(39,949)	(20,727)	(83,336)	(36,086)
Cost of services (exclusive of items shown separately below)	(39,906)	(20,664)	(83,251)	(35,959)
Depreciation, depletion, amortization and accretion
General and administrative expenses	(43)	(63)	(85)	(127)
Income (loss) from operations
Other income (expense):
Interest expense, net
Intercompany interest income (expense)
Earnings (losses) from consolidated subsidiaries	(490,541)	(171,689)	(771,140)	(245,456)
Earnings (losses) from equity-method investments, net
Gain loss from Equity method investment
Income (loss) from continuing operations before income taxes	(490,541)	(171,689)	(771,140)	(245,456)
Income taxes
Net income (loss) from continuing operations	(490,541)	(171,689)	(771,140)	(245,456)
Discontinued operations, net of income tax
Net income	$ (490,541)	$ (171,689)	$ (771,140)	$ (245,456)

Financial Information Related to Guarantor Subsidiaries (Statement of Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ 141,853	$ 48,109	$ 195,773	$ 63,612
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	(2,839)		(2,839)
Change in cumulative translation adjustment	(5,976)	711	(71)	8,566
Comprehensive income	133,038	48,820	192,863	72,178
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	141,854	48,109	195,774	63,612
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax
Change in cumulative translation adjustment	(5,976)	711	(71)	8,566
Comprehensive income	135,878	48,820	195,703	72,178
Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	218,464	72,534	306,101	95,961
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	(2,839)		(2,839)
Change in cumulative translation adjustment	(5,976)	711	(71)	8,566
Comprehensive income	209,649	73,245	303,191	104,527
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	256,391	112,668	446,572	173,746
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax
Change in cumulative translation adjustment
Comprehensive income	256,391	112,668	446,572	173,746
Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	15,685	(13,513)	18,466	(24,251)
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax
Change in cumulative translation adjustment	(5,976)	711	(71)	8,566
Comprehensive income	9,709	(12,802)	18,395	(15,685)
Consolidation, Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(490,541)	(171,689)	(771,140)	(245,456)
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax
Change in cumulative translation adjustment	11,952	(1,422)	142	(17,132)
Comprehensive income	$ (478,589)	$ (173,111)	$ (770,998)	$ (262,588)

Financial Information Related to Guarantor Subsidiaries (Statement of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities:
Net income (loss)	$ 141,853	$ 48,109	$ 195,773	$ 63,612
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion			239,357	122,677
Deferred income taxes			(11,395)	8,895
Excess tax benefit from stock-based compensation			(1,279)	(10,262)
Gain loss from Equity method investment	(17,880)		(17,880)
Stock based and performance share unit compensation expense			13,725	4,888
Retirement and deferred compensation plan expense			1,412	486
(Earnings) losses from consolidated subsidiaries
(Earnings) losses from equity-method investments, net of cash received			2,954	(3,989)
Amortization of debt acquisition costs and note discount			4,846	12,700
(Gain) loss sale of business			6,649	(8,558)
Other reconciling items, net			6,222	(3,006)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable			(94,803)	16,773
Inventory and other current assets			(24,494)	10,665
Accounts payable			24,512	952
Accrued expenses			(60,877)	10,609
Decommissioning liabilities			(4,578)
Income taxes			101,372	3,046
Other, net			(16,011)	(1,498)
Net cash provided by (used in) operating activities			365,505	227,990
Cash flows from investing activities:
Payments for capital expenditures			(588,182)	(216,682)
Purchase of short-term investments, net.				(164,130)
Acquisitions of businesses, net of cash acquired			(1,039,238)
Change in restricted cash held for acquisition of business			785,280
Cash proceeds from sale of businesses			185,912	22,349
Proceeds from Sale of Equity Method Investments			34,087
Other			24,949	(6,134)
Intercompany receivables/payables
Net cash provided by (used in) investing activities			(597,192)	(364,597)
Cash flows from financing activities:
Net payments on revolving line of credit			(75,000)	(175,000)
Proceeds from long-term debt			400,000	500,000
Principal payments of long-term debt			(17,546)	(405)
Payment of debt acquisition costs			(25,091)	(9,363)
Proceeds from exercise of stock options			13,652	10,129
Excess tax benefit from stock-based compensation			1,279	10,262
Proceeds from issuance of stock through employee benefit plans			1,406	1,223
Other			(4,583)	(7,629)
Net cash provided by (used in) financing activities			294,117	329,217
Effect of exchange rate changes on cash			333	777
Net increase (decrease) in cash and cash equivalents			62,763	193,387
Cash and cash equivalents at beginning of period			80,274	50,727
Cash and cash equivalents at end of period	143,037	244,114	143,037	244,114
Parent [Member]
Cash flows from operating activities:
Net income (loss)	141,854	48,109	195,774	63,612
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion
Deferred income taxes			(15,686)	7,801
Excess tax benefit from stock-based compensation			(1,279)	(10,262)
Gain loss from Equity method investment
Stock based and performance share unit compensation expense
Retirement and deferred compensation plan expense
(Earnings) losses from consolidated subsidiaries	(218,464)	(72,534)	(306,101)	(95,961)
(Earnings) losses from equity-method investments, net of cash received
Amortization of debt acquisition costs and note discount
(Gain) loss sale of business
Other reconciling items, net
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable
Inventory and other current assets
Accounts payable
Accrued expenses			(58)	(37)
Decommissioning liabilities
Income taxes			102,086	6,680
Other, net			(79)	(71)
Net cash provided by (used in) operating activities			(25,343)	(28,238)
Cash flows from investing activities:
Payments for capital expenditures
Purchase of short-term investments, net.
Acquisitions of businesses, net of cash acquired
Change in restricted cash held for acquisition of business
Cash proceeds from sale of businesses
Proceeds from Sale of Equity Method Investments
Other
Intercompany receivables/payables			9,396	6,624
Net cash provided by (used in) investing activities			9,396	6,624
Cash flows from financing activities:
Net payments on revolving line of credit
Proceeds from long-term debt
Principal payments of long-term debt
Payment of debt acquisition costs
Proceeds from exercise of stock options			13,652	10,129
Excess tax benefit from stock-based compensation			1,279	10,262
Proceeds from issuance of stock through employee benefit plans			1,406	1,223
Other			(390)
Net cash provided by (used in) financing activities			15,947	21,614
Effect of exchange rate changes on cash
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
Issuer [Member]
Cash flows from operating activities:
Net income (loss)	218,464	72,534	306,101	95,961
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion			369	257
Deferred income taxes
Excess tax benefit from stock-based compensation
Gain loss from Equity method investment	(17,880)		(17,880)
Stock based and performance share unit compensation expense			13,725	4,888
Retirement and deferred compensation plan expense			1,412	486
(Earnings) losses from consolidated subsidiaries	(256,287)	(98,608)	(436,838)	(148,314)
(Earnings) losses from equity-method investments, net of cash received			2,787	(2,863)
Amortization of debt acquisition costs and note discount			4,846	12,700
(Gain) loss sale of business
Other reconciling items, net			4,826	(771)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable			38	174
Inventory and other current assets			(37)	252
Accounts payable			1,518	583
Accrued expenses			(7,380)	(1,189)
Decommissioning liabilities
Income taxes
Other, net			(3,949)	(2,475)
Net cash provided by (used in) operating activities			(130,462)	(40,311)
Cash flows from investing activities:
Payments for capital expenditures			(5,041)	(25)
Purchase of short-term investments, net.				(164,130)
Acquisitions of businesses, net of cash acquired			(1,229,327)
Change in restricted cash held for acquisition of business			785,280
Cash proceeds from sale of businesses			185,912
Proceeds from Sale of Equity Method Investments			34,087
Other
Intercompany receivables/payables			112,859	80,062
Net cash provided by (used in) investing activities			(116,230)	(84,093)
Cash flows from financing activities:
Net payments on revolving line of credit			(75,000)	(175,000)
Proceeds from long-term debt			400,000	500,000
Principal payments of long-term debt			(5,000)
Payment of debt acquisition costs			(25,091)	(9,363)
Proceeds from exercise of stock options
Excess tax benefit from stock-based compensation
Proceeds from issuance of stock through employee benefit plans
Other			(2,463)	(6,100)
Net cash provided by (used in) financing activities			292,446	309,537
Effect of exchange rate changes on cash
Net increase (decrease) in cash and cash equivalents			45,754	185,133
Cash and cash equivalents at beginning of period			29,057
Cash and cash equivalents at end of period	74,811	185,133	74,811	185,133
Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)	256,391	112,668	446,572	173,746
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion			203,431	100,432
Deferred income taxes
Excess tax benefit from stock-based compensation
Gain loss from Equity method investment
Stock based and performance share unit compensation expense
Retirement and deferred compensation plan expense
(Earnings) losses from consolidated subsidiaries	(15,790)	(547)	(28,201)	(1,181)
(Earnings) losses from equity-method investments, net of cash received
Amortization of debt acquisition costs and note discount
(Gain) loss sale of business			6,649	(8,558)
Other reconciling items, net			650	(2,235)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable			(84,277)	12,627
Inventory and other current assets			(24,223)	12,695
Accounts payable			14,201	(1,041)
Accrued expenses			(57,631)	2,111
Decommissioning liabilities			(4,546)
Income taxes
Other, net			(3,490)	1,399
Net cash provided by (used in) operating activities			469,135	289,995
Cash flows from investing activities:
Payments for capital expenditures			(527,082)	(170,252)
Purchase of short-term investments, net.
Acquisitions of businesses, net of cash acquired			106,952
Change in restricted cash held for acquisition of business
Cash proceeds from sale of businesses				22,349
Proceeds from Sale of Equity Method Investments
Other			24,949	(6,134)
Intercompany receivables/payables			(74,398)	(136,722)
Net cash provided by (used in) investing activities			(469,579)	(290,759)
Cash flows from financing activities:
Net payments on revolving line of credit
Proceeds from long-term debt
Principal payments of long-term debt
Payment of debt acquisition costs
Proceeds from exercise of stock options
Excess tax benefit from stock-based compensation
Proceeds from issuance of stock through employee benefit plans
Other
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash
Net increase (decrease) in cash and cash equivalents			(444)	(764)
Cash and cash equivalents at beginning of period			6,272	5,493
Cash and cash equivalents at end of period	5,828	4,729	5,828	4,729
Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income (loss)	15,685	(13,513)	18,466	(24,251)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion			35,557	21,988
Deferred income taxes			4,291	1,094
Excess tax benefit from stock-based compensation
Gain loss from Equity method investment
Stock based and performance share unit compensation expense
Retirement and deferred compensation plan expense
(Earnings) losses from consolidated subsidiaries
(Earnings) losses from equity-method investments, net of cash received			167	(1,126)
Amortization of debt acquisition costs and note discount
(Gain) loss sale of business
Other reconciling items, net			746
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable			(10,564)	3,972
Inventory and other current assets			(234)	(2,282)
Accounts payable			8,793	1,410
Accrued expenses			4,192	9,724
Decommissioning liabilities			(32)
Income taxes			(714)	(3,634)
Other, net			(8,493)	(351)
Net cash provided by (used in) operating activities			52,175	6,544
Cash flows from investing activities:
Payments for capital expenditures			(56,059)	(46,405)
Purchase of short-term investments, net.
Acquisitions of businesses, net of cash acquired			83,137
Change in restricted cash held for acquisition of business
Cash proceeds from sale of businesses
Proceeds from Sale of Equity Method Investments
Other
Intercompany receivables/payables			(47,857)	50,036
Net cash provided by (used in) investing activities			(20,779)	3,631
Cash flows from financing activities:
Net payments on revolving line of credit
Proceeds from long-term debt
Principal payments of long-term debt			(12,546)	(405)
Payment of debt acquisition costs
Proceeds from exercise of stock options
Excess tax benefit from stock-based compensation
Proceeds from issuance of stock through employee benefit plans
Other			(1,730)	(1,529)
Net cash provided by (used in) financing activities			(14,276)	(1,934)
Effect of exchange rate changes on cash			333	777
Net increase (decrease) in cash and cash equivalents			17,453	9,018
Cash and cash equivalents at beginning of period			44,945	45,234
Cash and cash equivalents at end of period	62,398	54,252	62,398	54,252
Consolidation, Eliminations [Member]
Cash flows from operating activities:
Net income (loss)	(490,541)	(171,689)	(771,140)	(245,456)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion
Deferred income taxes
Excess tax benefit from stock-based compensation
Gain loss from Equity method investment
Stock based and performance share unit compensation expense
Retirement and deferred compensation plan expense
(Earnings) losses from consolidated subsidiaries	490,541	171,689	771,140	245,456
(Earnings) losses from equity-method investments, net of cash received
Amortization of debt acquisition costs and note discount
(Gain) loss sale of business
Other reconciling items, net
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable
Inventory and other current assets
Accounts payable
Accrued expenses
Decommissioning liabilities
Income taxes
Other, net
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Payments for capital expenditures
Purchase of short-term investments, net.
Acquisitions of businesses, net of cash acquired
Change in restricted cash held for acquisition of business
Cash proceeds from sale of businesses
Proceeds from Sale of Equity Method Investments
Other
Intercompany receivables/payables
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Net payments on revolving line of credit
Proceeds from long-term debt
Principal payments of long-term debt
Payment of debt acquisition costs
Proceeds from exercise of stock options
Excess tax benefit from stock-based compensation
Proceeds from issuance of stock through employee benefit plans
Other
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period