Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2011

Summary of Significant Accounting Policies [Abstract]

Inventory

	December 31, 2011		December 31, 2010
	(In thousands)
Raw materials	$	133,480	$	81,308
Work-in-progress		50,951		23,629
Finished goods		88,421		53,899
	$	272,852	$	158,836

Change in the carrying amount of goodwill for various Contract Drilling segments and other Operating Segments

	Balance as of December 31, 2009		Acquisitions and Purchase Price Adjustments			Impairments			Cumulative Translation Adjustment		Balance as of December 31, 2010
	(In thousands)
Contract Drilling:
U.S. Lower 48 Land Drilling	$	30,154	$	—		$	—		$	—	$	30,154
U.S. Land Well-servicing		50,839		5,000	(1)		—			—		55,839
U.S. Offshore		18,003		—			(10,707	)(2)		—		7,296
Alaska		19,995		—			—			—		19,995
International		18,983		—			—			—		18,983
Subtotal Contract Drilling		137,974		5,000			(10,707	)		—		132,267
Pressure Pumping		—		334,992	(3)		—			—		334,992
Other Operating Segments		26,291		—			—			822		27,113
Total	$	164,265	$	339,992		$	(10,707	)	$	822	$	494,372

	Balance as of December 31, 2010		Acquisitions and Purchase Price Adjustments			Impairments		Cumulative Translation Adjustment			Balance as of December 31, 2011
	(In thousands)
Contract Drilling:
U.S. Lower 48 Land Drilling	$	30,154	$	—		$	—	$	—		$	30,154
U.S. Land Well-servicing		55,839		(767	)(1)		—		—			55,072
U.S. Offshore		7,296		—			—		—			7,296
Alaska		19,995		—			—		—			19,995
International		18,983		—			—		—			18,983
Subtotal Contract Drilling		132,267		(767	)		—		—			131,500
Pressure Pumping		334,992		—			—		—			334,992
Other Operating Segments		27,113		8,000	(4)		—		(347	)		34,766
Total	$	494,372	$	7,233		$	—	$	(347	)	$	501,258

(1) Represents the goodwill recorded in connection with our acquisition of Energy Contractors during 2010 and an adjustment to the goodwill recorded during 2011. See Note 5 — Acquisitions for additional discussion.

(2) Represents goodwill impairment associated with our U.S. Offshore operating segment. The impairment charge was deemed necessary due to the uncertainty of utilization of some of our rigs as a result of changes in our customers’ plans for future drilling operations in the Gulf of Mexico. See Note 3 — Impairments and Other Charges for additional information.

(3) Represents the goodwill recorded in connection with our acquisition of Superior. See Note 5 — Acquisitions for additional discussion.

(4) Represents goodwill recorded in connection with our acquisition of the remaining 50 percent equity interest of Peak. See Note 5 — Acquisitions for additional discussion.

Our Oil and Gas segment does not have any goodwill. Goodwill for the consolidated company, totaling approximately $12.9 million, is expected to be deductible for tax purposes.