Segments

6 Months Ended

Jun. 30, 2011

Segments [Abstract]

Segments

12. Segments

     The Company reports its business activities in five business segments: (1) Domestic Offshore, (2) International Offshore, (3) Inland, (4) Domestic Liftboats and (5) International Liftboats. The financial information of the Company’s discontinued operations is not included in the results of operations presented for the Company’s reporting segments (See Note 5). The Company eliminates inter-segment revenue and expenses, if any.

     The following describes the Company’s reporting segments as of June 30, 2011:

     Domestic Offshore — includes 42 jackup rigs and two submersible rigs in the U.S. Gulf of Mexico that can drill in maximum water depths ranging from 80 to 350 feet. Sixteen of the jackup rigs are either working on short-term contracts or available for contracts, two are in the shipyard and twenty-four are cold-stacked. Both submersibles are cold-stacked.

     International Offshore — includes eight jackup rigs and one platform rig outside of the U.S. Gulf of Mexico. The Company has two jackup rigs working offshore in Saudi Arabia, one jackup rig contracted offshore in Malaysia, one jackup rig contracted in Angola and one platform rig under contract in Mexico. The Company has two jackup rigs in India, one which is preparing for a new contract in the Democratic Republic of Congo and one which is available for contract. The Company has one jackup rig warm-stacked and one jackup rig cold-stacked in Bahrain. In addition to owning and operating its own rigs, the Company has a Construction Management Agreement and the Services Agreement with Discovery Offshore with respect to each of the Rigs. (See Note 3). There was $0.8 million in revenue and $0.7 million expense associated with the Construction Management Agreement with Discovery Offshore recognized during both the three and six months ended June 30, 2011.

     Inland — includes a fleet of six conventional and eleven posted barge rigs that operate inland in marshes, rivers, lakes and shallow bay or coastal waterways along the U.S. Gulf Coast. Three of the inland barges are either operating on short-term contracts or available and fourteen are cold-stacked.

     Domestic Liftboats — includes 41 liftboats in the U.S. Gulf of Mexico. Thirty-five are operating or available and six are cold-stacked.

     International Liftboats — includes 24 liftboats. Twenty-one are operating or available for contracts offshore West Africa, including five liftboats owned by a third party, one is cold-stacked offshore West Africa and two are operating or available for contracts in the Middle East region.

     The Company’s jackup rigs, submersible rigs and platform rigs are used primarily for exploration and development drilling in shallow waters. The Company’s liftboats are self-propelled, self-elevating vessels with a large open deck space, which provides a versatile, mobile and stable platform to support a broad range of offshore maintenance and construction services throughout the life of an oil or natural gas well.

     Information regarding reportable segments is as follows (in thousands):

	Three Months Ended June 30, 2011							Six Months Ended June 30, 2011
			Income (Loss)			Depreciation				Income (Loss)			Depreciation
			from			&				from			&
	Revenue		Operations			Amortization		Revenue		Operations			Amortization
Domestic Offshore	$	48,643	$	(17,167	)	$	16,861	$	82,442	$	(42,297	)	$	31,943
International Offshore		70,047		18,207			13,256		147,166		50,881			26,556
Inland		7,625		(2,193	)		3,407		13,127		(8,572	)		8,028
Domestic Liftboats		16,860		1,910			3,860		27,491		(1,459	)		7,501
International Liftboats		27,026		5,960			4,976		59,353		17,561			9,474
		170,201		6,717			42,360		329,579		16,114			83,502
Corporate		—		(10,675	)		651		—		(21,694	)		1,302
Total Company	$	170,201	$	(3,958	)	$	43,011	$	329,579	$	(5,580	)	$	84,804

	Three Months Ended June 30, 2010							Six Months Ended June 30, 2010
			Income (Loss)			Depreciation				Income (Loss)			Depreciation
			from			&				from			&
	Revenue		Operations			Amortization		Revenue		Operations			Amortization
Domestic Offshore	$	34,143	$	(20,520	)	$	17,170	$	63,105	$	(50,646	)	$	33,709
International Offshore		73,493		24,237			14,473		146,935		46,723			29,404
Inland		5,180		(7,728	)		6,239		9,931		(13,035	)		13,745
Domestic Liftboats		17,895		2,993			3,668		29,338		427			7,868
International Liftboats		27,187		6,493			4,368		53,149		11,796			9,059
		157,898		5,475			45,918		302,458		(4,735	)		93,785
Corporate		—		(10,767	)		818		—		(19,960	)		1,615
Total Company	$	157,898	$	(5,292	)	$	46,736	$	302,458	$	(24,695	)	$	95,400

	Total Assets
	June 30,		December 31,
	2011		2010
Domestic Offshore	$	907,124	$	772,950
International Offshore		748,647		712,988
Inland		124,486		136,229
Domestic Liftboats		86,220		86,013
International Liftboats		165,461		167,561
Delta Towing		5,184		56,631
Corporate		54,360		62,937
Total Company	$	2,091,482	$	1,995,309