PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Sep. 30, 2013

Property, Plant and Equipment [Abstract]

A summary of property and equipment by classification

Our estimated useful lives of our various classifications of assets are as follows:

	Years
Drilling vessels and related equipment	5-35
Drill pipe	3
Furniture and other	3-10

A summary of property and equipment by classification is as follows:

	September 30,
(In thousands)	2013			2012
Drilling vessels and equipment	$	2,979,503		$	2,523,895
Construction work in progress	715,320			438,081
Drill pipe	26,743			20,576
Office equipment and other	24,439			19,610
Cost	3,746,005			3,002,162
Less: Accumulated depreciation	(581,281		)	(464,822		)
Drilling and other property and equipment, net	$	3,164,724		$	2,537,340