Details of Selected Balance Sheet Accounts

9 Months Ended

Sep. 30, 2011

Details of Selected Balance Sheet Accounts [Abstract]

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS

3. DETAILS OF SELECTED BALANCE SHEET ACCOUNTS

     Additional information regarding selected balance sheet accounts is presented below (in thousands):

	SEPTEMBER 30,			DECEMBER 31,
	2011			2010
Accounts receivable, net:
Trade	$	425,107		$	365,988
Unbilled revenue		155,515			113,389
Other		1,569			3,462
Total accounts receivable		582,191			482,839
Allowance for doubtful accounts		(2,742	)		(4,100	)
	$	579,449		$	478,739

	SEPTEMBER 30,			DECEMBER 31,
	2011			2010
Inventories, net:
Tubular goods	$	375,114		$	332,720
Other finished goods and purchased products		76,444			71,266
Work in process		60,439			45,662
Raw materials		100,499			60,241
Total inventories		612,496			509,889
Allowance for obsolescence		(9,666	)		(8,454	)
	$	602,830		$	501,435

	ESTIMATED	SEPTEMBER 30,			DECEMBER 31,
	USEFUL LIFE	2011			2010
Property, plant and equipment, net:
Land		$	42,923		$	43,411
Buildings and leasehold improvements	1-40 years		203,671			193,617
Machinery and equipment	2-29 years		335,208			311,217
Accommodations assets	3-15 years		964,709			840,002
Rental tools	4-10 years		192,116			166,245
Office furniture and equipment	1-10 years		44,204			36,325
Vehicles	2-10 years		89,227			82,783
Construction in progress			217,024			113,773
Total property, plant and equipment			2,089,082			1,787,373
Accumulated depreciation			(633,275	)		(534,716	)
		$	1,455,807		$	1,252,657

	SEPTEMBER 30,		DECEMBER 31,
	2011		2010
Accounts payable and accrued liabilities:
Trade accounts payable	$	234,653	$	224,543
Accrued compensation		48,068		47,760
Accrued interest		14,599		2,772
Accrued taxes, other than income taxes		11,555		4,887
Insurance liabilities		9,226		8,615
Liabilities related to discontinued operations		2,150		2,268
Other		9,652		13,894
	$	329,903	$	304,739