Segments

9 Months Ended

Sep. 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 September 30, 2011:

     Domestic Offshore — includes 41 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. Seventeen of the jackup rigs are either working on short-term contracts or available for contracts, one is in the shipyard and twenty-three 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 contracted offshore in Saudi Arabia, one jackup rig contracted offshore in Vietnam, one jackup rig contracted offshore in India, one jackup rig contracted offshore in the Democratic Republic of Congo and one platform rig under contract in Mexico. The Company has one jackup rig contracted in Angola, however, it is currently preparing to be transported to a shipyard in Mississippi to undergo repairs and is estimated to be out of service for approximately six months. 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).

     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 September 30, 2011							Nine Months Ended September 30, 2011
			Income (Loss)			Depreciation				Income (Loss)			Depreciation
			from			&				from			&
	Revenue		Operations			Amortization		Revenue		Operations			Amortization
Domestic Offshore	$	60,246	$	(12,824	)	$	17,977	$	142,688	$	(55,121	)	$	49,920
International Offshore		48,965		12,946			12,913		196,131		63,827			39,469
Inland		8,124		923			3,310		21,251		(7,649	)		11,338
Domestic Liftboats		16,718		615			4,136		44,209		(844	)		11,637
International Liftboats		28,938		8,523			4,905		88,291		26,084			14,379
		162,991		10,183			43,241		492,570		26,297			126,743
Corporate		—		(13,216	)		654		—		(34,910	)		1,956
Total Company	$	162,991	$	(3,033	)	$	43,895	$	492,570	$	(8,613	)	$	128,699

	Three Months Ended September 30, 2010							Nine Months Ended September 30, 2010
			Income (Loss)			Depreciation				Income (Loss)			Depreciation
			from			&				from			&
	Revenue		Operations			Amortization		Revenue		Operations			Amortization
Domestic Offshore	$	25,058	$	(32,066	)	$	17,277	$	88,163	$	(82,712	)	$	50,986
International Offshore		74,429		26,893			14,404		221,364		73,616			43,808
Inland		5,745		(8,628	)		4,991		15,676		(21,663	)		18,736
Domestic Liftboats		24,612		9,424			3,314		53,950		9,851			11,182
International Liftboats		27,765		9,431			4,199		80,914		21,227			13,258
		157,609		5,054			44,185		460,067		319			137,970
Corporate		—		(8,895	)		797		—		(28,855	)		2,412
Total Company	$	157,609	$	(3,841	)	$	44,982	$	460,067	$	(28,536	)	$	140,382

	Total Assets
	September 30,		December 31,
	2011		2010
Domestic Offshore	$	891,593	$	772,950
International Offshore		740,054		712,988
Inland		121,283		136,229
Domestic Liftboats		84,064		86,013
International Liftboats		161,691		167,561
Delta Towing		2,605		56,631
Corporate		52,735		62,937
Total Company	$	2,054,025	$	1,995,309