Segment Information

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

We have two operating segments referred to as the Drilling Services Segment and the Production Services Segment which is the basis management uses for making operating decisions and assessing performance.

Drilling Services Segment—Our Drilling Services Segment provides contract land drilling services to a diverse group of oil and gas exploration and production companies with its fleet of 62 drilling rigs which are currently assigned to the following divisions:

Drilling Division	Rig Count
South Texas	14
West Texas	18
North Dakota	11
Utah	7
Appalachia	4
Colombia	8
	62

Production Services Segment—Our Production Services Segment provides a range of services to exploration and production companies, including well servicing, wireline services, coiled tubing services, and fishing and rental services. Our production services operations are concentrated in the major United States onshore oil and gas producing regions in the Mid-Continent and Rocky Mountain states and in the Gulf Coast, both onshore and offshore. As of March 31, 2014, we have a fleet of 109 well servicing rigs consisting of ninety-nine 550 horsepower rigs and ten 600 horsepower rigs. We provide wireline services and coiled tubing services with a fleet of 120 wireline units and 13 coiled tubing units, and we provide rental services with a gross book value of $17.4 million in fishing and rental tools.

The following tables set forth certain financial information for our two operating segments and corporate as of and for the three months ended March 31, 2014 and 2013 (amounts in thousands):

	As of and for the three months ended March 31, 2014
	Drilling Services Segment		Production Services Segment		Corporate		Total
Identifiable assets	$	780,786	$	403,923	$	241,668	$	1,426,377
Revenues	$	117,957	$	121,077	$	—	$	239,034
Operating costs	76,338		77,752		—		154,090
Segment margin	$	41,619	$	43,325	$	—	$	84,944
Depreciation and amortization	$	29,239	$	16,019	$	268	$	45,526
Capital expenditures	$	21,256	$	15,343	$	318	$	36,917

	As of and for the three months ended March 31, 2013
	Drilling Services Segment		Production Services Segment		Corporate		Total
Identifiable assets	$	870,291	$	430,829	$	23,137	$	1,324,257
Revenues	$	133,074	$	96,596	$	—	$	229,670
Operating costs	88,986		60,619		—		149,605
Segment margin	$	44,088	$	35,977	$	—	$	80,065
Depreciation and amortization	$	30,046	$	15,987	$	252	$	46,285
Capital expenditures	$	27,796	$	13,873	$	381	$	42,050

The following table reconciles the segment profits reported above to income from operations as reported on the consolidated statements of operations for the three months ended March 31, 2014 and 2013 (amounts in thousands):

	Three months ended March 31,
	2014			2013
Segment margin	$	84,944		$	80,065
Depreciation and amortization	(45,526		)	(46,285		)
General and administrative	(24,483		)	(23,054		)
Bad debt recovery (expense)	124			(281		)
Income from operations	$	15,059		$	10,445

The following table sets forth certain financial information for our international operations in Colombia as of and for the three months ended March 31, 2014 and 2013 (amounts in thousands):

	As of and for the three months ended March 31,
	2014		2013
Identifiable assets	$	153,158	$	151,498
Revenues	$	22,164	$	30,775

Identifiable assets for our international operations in Colombia include five drilling rigs that are owned by our Colombia subsidiary and three drilling rigs that are owned by one of our domestic subsidiaries and leased to our Colombia subsidiary.