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Document and Entity Information - USD ($)	6 Months Ended
Document and Entity Information - USD ($)	Jun. 30, 2010	Jul. 30, 2010	Jun. 30, 2009
Document and Entity Information [Abstract]
Entity Registrant Name	SUPERIOR ENERGY SERVICES INC
Entity Central Index Key	0000886835
Document Type	10-Q
Document Period End Date	Jun. 30, 2010
Amendment Flag	false
Document Fiscal Year Focus	2010
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,343,725,000
Entity Common Stock, Shares Outstanding		78,798,886

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2010	Dec. 31, 2009
Current assets:
Cash and cash equivalents	$ 64,049	$ 206,505
Accounts receivable, net of allowance for doubtful accounts of $27,509 and $23,679 at June 30, 2010 and December 31, 2009, respectively	397,801	337,151
Income taxes receivable	755	12,674
Prepaid expenses	26,408	20,209
Other current assets	219,927	287,024
Total current assets	708,940	863,563
Property, plant and equipment, net	1,275,294	1,058,976
Goodwill	575,004	482,480
Notes receivable	83,622	0
Equity-method investments	59,720	60,677
Intangible and other long-term assets, net	84,668	50,969
Total assets	2,787,248	2,516,665
Current liabilities:
Accounts payable	91,070	63,466
Accrued expenses	152,123	133,602
Deferred income taxes	41,856	30,501
Current portion of decommissioning liabilities	22,232	0
Current maturities of long-term debt	810	810
Total current liabilities	308,091	228,379
Deferred income taxes	218,945	209,053
Decommissioning liabilities	107,686	0
Long-term debt, net	820,581	848,665
Other long-term liabilities	113,479	52,523
Stockholders' equity:
Preferred stock of $.01 par value. Authorized, 5,000,000 shares; none issued	0	0
Common stock of $.001 par value. Authorized, 125,000,000 shares; issued and outstanding, 78,790,293 shares at June 30, 2010 and 78,559,350 shares at December 31, 2009	79	79
Additional paid in capital	395,183	387,885
Accumulated other comprehensive loss, net	(31,464)	(18,996)
Retained earnings	854,668	809,077
Total stockholders' equity	1,218,466	1,178,045
Total liabilities and stockholders' equity	$ 2,787,248	$ 2,516,665

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2010	Dec. 31, 2009
Current assets:
Allowance for doubtful accounts	$ 27,509,000	$ 23,679,000
Stockholders' equity:
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	78,790,293	78,559,350
Common stock, shares outstanding	78,790,293	78,559,350

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2010	Jun. 30, 2009	Jun. 30, 2010	Jun. 30, 2009
Condensed Consolidated Statements of Operations [Abstract]
Revenues	$ 424,856	$ 361,161	$ 789,367	$ 798,270
Costs and expenses:
Cost of services (exclusive of items shown separately below)	229,916	197,268	428,968	419,733
Depreciation, depletion, amortization and accretion	54,299	50,978	105,347	100,846
General and administrative expenses	92,529	60,283	163,253	125,269
Reduction in value of assets		92,683		92,683
Total costs and expenses	376,744	401,212	697,568	738,531
Income (loss) from operations	48,112	(40,051)	91,799	59,739
Other income (expense):
Interest expense, net	(12,680)	(11,720)	(26,718)	(25,008)
Earnings (losses) from equity-method investments, net	2,170	(19,426)	6,155	(17,170)
Reduction in value of equity-method investment		(36,486)		(36,486)
Income (loss) before income taxes	37,602	(107,683)	71,236	(18,925)
Income taxes	13,537	(38,766)	25,645	(6,813)
Net income (loss)	$ 24,065	$ (68,917)	$ 45,591	$ (12,112)
Basic earnings (loss) per share	$ 0.31	$ (0.88)	$ 0.58	$ (0.16)
Diluted earnings (loss) per share	$ 0.3	$ (0.88)	$ 0.57	$ (0.16)
Weighted average common shares used in computing earnings per share:
Basic	78,716	78,153	78,625	78,093
Incremental common shares from stock-based compensation	885		874
Diluted	79,601	78,153	79,499	78,093

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2010	Jun. 30, 2009
Cash flows from operating activities:
Net income (loss)	$ 45,591	$ (12,112)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	105,347	100,846
Deferred income taxes	13,747	(14,413)
Reduction in value of assets		92,683
Reduction in value of equity-method investment		36,486
Stock-based and performance share unit compensation expense, net	4,385	2,358
Retirement and deferred compensation plans expense, net	5,461	1,311
Earnings/losses from equity-method investments, net of cash received	2,508	20,551
Amortization of debt acquisition costs and note discount	11,731	10,708
Other, net	(1,785)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Receivables	(36,885)	30,790
Other current assets	73,451	(112,121)
Accounts payable	8,764	(16,196)
Accrued expenses	3,505	(27,260)
Income taxes	11,570	(28,424)
Other, net	9,669	4,187
Net cash provided by operating activities	257,059	89,394
Cash flows from investing activities:
Payments for capital expenditures	(147,815)	(149,289)
Acquisitions of businesses, net of cash acquired	(207,772)
Other, net	(5,177)	(3,669)
Net cash used in investing activities	(360,764)	(152,958)
Cash flows from financing activities:
Net borrowings from (payments on) revolving credit facility	(37,400)	55,000
Principal payments on long-term debt	(405)	(405)
Payment of debt acquisition costs		(2,308)
Proceeds from exercise of stock options	342	106
Tax benefit from exercise of stock options	163	45
Proceeds from issuance of stock through employee benefit plans	1,054	1,175
Other	(1,314)
Net cash provided by (used in) financing activities	(37,560)	53,613
Effect of exchange rate changes on cash	(1,191)	1,688
Net decrease in cash and cash equivalents	(142,456)	(8,263)
Cash and cash equivalents at beginning of period	206,505	44,853
Cash and cash equivalents at end of period	$ 64,049	$ 36,590

Acquisitions

6 Months Ended

Jun. 30, 2010

Acquisitions [Abstract]

Acquisitions

(2) Acquisitions

Hallin

On January 26, 2010, the Company acquired 100% of the equity interest of Hallin Marine Subsea International Plc (Hallin), for approximately $162.3 million of cash. Additionally, the Company repaid approximately $55.5 million of Hallin’s debt. Hallin is an international provider of integrated subsea services and engineering solutions, focused on installing, maintaining and extending the life of subsea wells. Hallin operates in international offshore oil and gas markets with offices and facilities located in Singapore; Jakarta, Indonesia; Perth, Australia; Aberdeen, Scotland; and Houston, Texas. The acquisition of Hallin provides the Company the opportunity to enhance its position in the subsea and well enhancement market through its existing subsea assets (remotely operated vehicles, saturation diving systems, chartered and owned vessels) and newbuild vessel program.

The following table summarizes the consideration paid for Hallin and the fair value of the assets acquired and liabilities assumed at the acquisition date (in thousands):


Current assets	$	42,096
Property, plant and equipment		147,721
Equity-method investments		1,299
Identifiable intangible assets		118,150
Current liabilities		(30,217	)
Deferred income taxes		(8,130	)
Other long term liabilities		(53,159	)


Total consideration paid	$	217,760

Identifiable intangible assets include goodwill of $93.7 million and amortizable intangibles of $24.5 million. Goodwill consists of assembled workforce, entry into new international markets and business lines, as well as synergistic opportunities created by combining the operations of Hallin and the other subsidiaries of the Company. All of the goodwill was assigned to the Company’s subsea and well enhancement segment. None of the goodwill recognized is expected to be deductible for income tax purposes. Amortizable intangibles consist of tradenames and customer relationships that have a weighted average useful life of 18 years.

The fair value of the current assets acquired includes trade receivables with a fair value of $19.3 million. The gross amount due from customers is $21.4 million, of which $2.1 million is deemed to be doubtful.

The Company expensed a total of $0.5 million of acquisition-related costs during the six month period ended June 30, 2010, which was recorded as general and administrative expenses in the condensed consolidated statements of operations. An additional $4.9 million of acquisition-related costs, a portion of which was related to foreign currency exchange loss, was expensed in the year ended December 31, 2009.

Hallin is the lessee of a dynamically positioned subsea vessel under a capital lease expiring in 2019 with a 2 year renewal option. Hallin owns a 5% equity interest in the entity that owns this leased asset. The entity owning this vessel has $33.7 million of debt as of December 31, 2009, all of which is non-recourse to the Company. The amount of the asset and liability under this capital lease is recorded at the present value of the lease payments. This vessel is depreciated using the units-of-production method based on the utilization of the vessel and is subject to a minimum amount of annual depreciation. The units-of-production method is used for this vessel because depreciation occurs primarily through use rather than through the passage of time. Depreciation expense for this asset under the capital lease was $0.9 million from the date of acquisition through June 30, 2010 and $0.7 million for the three month period ended June 30, 2010. Included in other long-term liabilities is $36.6 million related to the obligations under this capital lease.

Additionally, the Company has provisionally estimated certain tax liabilities related to this acquisition; however, due to the large number of jurisdictions, the complexity of tax laws and the pending tax filings, the Company continues to evaluate these liabilities.

Bullwinkle Platform

On January 31, 2010, Wild Well Control, Inc. (Wild Well), a wholly-owned subsidiary of the Company, acquired 100% ownership of Shell Offshore Inc.’s Gulf of Mexico Bullwinkle platform and its related assets, including 29 wells, and assumed the decommissioning obligation for such assets. Immediately after Wild Well acquired these assets, it conveyed an undivided 49% interest in these assets and the related well plugging and abandonment obligations to Dynamic Offshore Resources, LLC (Dynamic Offshore), which operates these assets. Additionally, Dynamic Offshore will pay Wild Well to extinguish its 49% portion of the well plugging and abandonment obligation (see note 3). In addition to the revenue generated from oil and gas production, the platform also generates revenue from several production handling arrangements for other subsea fields. At the end of their respective economic lives, Wild Well will plug and abandon the wells and decommission the Bullwinkle platform.

The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date (in thousands):


Current assets	$	3,098
Notes receivable		81,465
Property, plant and equipment		41,996
Decommissioning liabilities		(126,559	)


Total consideration paid	$	—

Notes receivable consist of a commitment from the seller of the oil and gas properties to pay Wild Well upon the decommissioning of the platform. These notes are recorded at present value, and the related discount is amortized to interest income based on the expected timing of the platform’s removal.

The revenue and earnings derived from Hallin and the Bullwinkle platform included in the Company’s condensed consolidated statement of operations for the six month period ended June 30, 2010, and the revenue and earnings (losses) of the Company on a consolidated basis as if these acquisitions had occurred on January 1, 2010, or January 1, 2009, with pro forma adjustments to give effect to depreciation and certain other adjustments, together with related income tax effects, are as follows (in thousands, except per share amounts):


						Basic			Diluted
						earnings			earnings
			Net income			(loss)			(loss)
	Revenue		(loss)			per share			per share
Actual from date of acquisition through the period ended June 30, 2010	$	65,397	$	5,908		$	0.08		$	0.07

Supplemental pro forma for the Company:
Six months ending June 30, 2010	$	803,891	$	44,047		$	0.56		$	0.55
Three months ending June 30, 2009	$	408,830	$	(61,174	)	$	(0.78	)	$	(0.78	)
Six months ending June 30, 2009	$	882,187	$	1,724		$	0.02		$	0.02

The Company has no off-balance sheet financing arrangements other than potential additional consideration that may be payable as a result of the future operating performances of certain acquisitions. At June 30, 2010, the maximum additional consideration payable for these acquisitions was approximately $16.9 million and will be determined and payable through 2012. Since these acquisitions occurred before the Company adopted the revised authoritative guidance for business combinations, these amounts are not classified as liabilities and are not reflected in the Company’s condensed consolidated financial statements until the amounts are fixed and determinable. When these amounts are determined, they will be capitalized as part of the purchase price of the related acquisition.

Subsequent Event

On July 3, 2010, the Company entered into a purchase agreement with subsidiaries of Baker Hughes Incorporated (Baker Hughes) to acquire certain assets used in Baker Hughes’ Gulf of Mexico stimulation and sand control business for $55.0 million. Baker Hughes was required to divest this business by the Department of Justice in connection with its acquisition of BJ Services Company. This acquisition of sand control assets along with a manufacturing facility and product line will provide the Company greater exposure to well completions and intervention projects earlier in the life cycle of the well. This acquisition will also provide the Company with an established platform from which to expand these new product and service offerings. It is expected that this acquisition will be completed in August 2010.

Long-Term Contracts	6 Months Ended
Long-Term Contracts	Jun. 30, 2010
Long-Term Contracts [Abstract]
Long-Term Contracts	(3) Long-Term Contracts In January 2010, Wild Well acquired 100% ownership of Shell Offshore Inc.’s Gulf of Mexico Bullwinkle platform and its related assets, and assumed the decommissioning obligations of such assets. In connection with the conveyance of an undivided 49% interest in these assets and the related well plugging and abandonment obligations, Dynamic Offshore will pay Wild Well to extinguish its portion of the well plugging and abandonment obligation, limited to the current fair value of the obligation. Wild Well currently expects to perform this work through 2014. Each well abandonment project will be short-term in duration and revenue will be recorded using the percentage-of-completion method utilizing costs incurred as a percentage of total estimated costs. As part of the asset purchase agreement with Shell Offshore Inc., Wild Well is required to obtain a $50 million performance bond as well as fund $50 million in an escrow account. This escrow account will be funded $3.0 million monthly through May 2011 with a final payment of $2.0 million in June 2011. Dynamic Offshore will fund a portion of this amount as part of its payment obligation for the well plugging and abandonment. Included in intangible and other long-term assets, net is escrowed cash of $15.0 million as of June 30, 2010. In connection with the sale of 75% of its interest in SPN Resources, LLC (SPN Resources) in 2008, the Company retained preferential rights on certain service work and entered into a turnkey contract to perform well abandonment and decommissioning work associated with oil and gas properties owned and operated by SPN Resources. This contract covers only routine end of life well abandonment, pipeline and platform decommissioning for properties owned and operated by SPN Resources at the date of closing and has a remaining fixed price of approximately $136.5 million as of June 30, 2010. The turnkey contract consists of numerous, separate billable jobs estimated to be performed through 2022. Each job is short-term in duration and is individually recorded on the percentage-of-completion method utilizing costs incurred as a percentage of total estimated costs. In December 2007, Wild Well entered into contractual arrangements pursuant to which it is decommissioning seven downed oil and gas platforms and related well facilities located offshore in the Gulf of Mexico for a fixed sum of $750 million, which is payable in installments upon the completion of specified portions of work. The contract contains certain covenants primarily related to Wild Well’s performance of the work. The work was substantially complete as of June 30, 2010. The revenue related to the contract for decommissioning these downed platforms and well facilities is recorded on the percentage-of-completion method utilizing costs incurred as a percentage of total estimated costs. Included in other current assets is $150.5 million and $209.5 million at June 30, 2010 and December 31, 2009, respectively, of costs and estimated earnings in excess of billings related to this contract.

Stock-Based Compensation and Retirement Plans	6 Months Ended
Stock-Based Compensation and Retirement Plans	Jun. 30, 2010
Stock-Based Compensation and Retirement Plans [Abstract]
Stock-Based Compensation and Retirement Plans	(4) Stock-Based Compensation and Retirement Plans The Company maintains various stock incentive plans that provide long-term incentives to the Company’s key employees, including officers and directors, consultants and advisors (Eligible Participants). Under the incentive plans, the Company may grant incentive stock options, non-qualified stock options, restricted stock, restricted stock units, stock appreciation rights, other stock-based awards or any combination thereof to Eligible Participants. In connection with the transition of executive management in the second quarter of 2010, the Company issued approximately 1 million non-qualified stock options, approximately 177,000 shares of restricted stock and 30,000 performance share units. Additionally, vesting of certain grants has been accelerated to coincide with the terms of associated change in executive management. Stock Options The Company has issued non-qualified stock options under its stock incentive plans. The options generally vest in equal installments over three years and expire in ten years. Non-vested options are generally forfeited upon termination of employment. The Company’s compensation expense related to stock options for the six months ended June 30, 2010 and 2009 was approximately $2.3 million and $1.2 million, respectively, which is reflected in general and administrative expenses. Restricted Stock The Company has issued shares of restricted stock under its stock incentive plans. Shares of restricted stock generally vest in equal annual installments over three years. Non-vested shares are generally forfeited upon the termination of employment. Holders of shares of restricted stock are entitled to all rights of a stockholder of the Company with respect to the restricted stock, including the right to vote the shares and receive any dividends or other distributions. The Company’s compensation expense related to shares of outstanding restricted stock for the six months ended June 30, 2010 and 2009 was approximately $3.3 million and $2.9 million, respectively, which is reflected in general and administrative expenses. Restricted Stock Units The Company has issued restricted stock units (RSUs) to its non-employee directors under its stock incentive plans. Annually, each non-employee director is issued a number of RSUs having an aggregate dollar value determined by the Company’s Board of Directors. An RSU represents the right to receive from the Company, within 30 days of the date the director ceases to serve on the Board, one share of the Company’s common stock. The Company’s expense related to RSUs for the six months ended June 30, 2010 and 2009 was approximately $0.7 million and $0.4 million, respectively, which is reflected in general and administrative expenses. Performance Share Units The Company has issued performance share units (PSUs) to its employees as part of the Company’s long-term incentive program. There is a three year performance period associated with each PSU grant. The two performance measures applicable to all participants are the Company’s return on invested capital and total stockholder return relative to those of the Company’s pre-defined “peer group.” If the participant has met specified continued service requirements, the PSUs will settle in cash or a combination of cash and up to 50% in equivalent value in the Company’s common stock, at the discretion of the compensation committee. The Company’s compensation expense related to all outstanding PSUs for the six months ended June 30, 2010 and 2009 was approximately $4.3 million and $2.4 million, respectively, which is reflected in general and administrative expenses. The Company has recorded a current liability of approximately $6.0 million and $6.4 million at June 30, 2010 and December 31, 2009, respectively, for outstanding PSUs, which is reflected in accrued expenses. Additionally, the Company has recorded a long-term liability of approximately $6.1 million and $7.8 million at June 30, 2010 and December 31, 2009, respectively, for outstanding PSUs, which is reflected in other long-term liabilities. During the six month period ended June 30, 2010, the Company paid approximately $6.4 million to its employees to settle PSUs for the performance period ended December 31, 2009. During the six month period ended June 30, 2009, the Company paid approximately $4.7 million and issued approximately 71,400 shares of its common stock to its employees to settle PSUs for the performance period ended December 31, 2008. Employee Stock Purchase Plan The Company has employee stock purchase plans under which an aggregate of 1,250,000 shares of common stock were reserved for issuance. Under these stock purchase plans, eligible employees can purchase shares of the Company’s common stock at a discount. The Company received $1.1 million and $1.2 million related to shares issued under these plans for the six month periods ended June 30, 2010 and 2009, respectively. For each six month period ended June 30, 2010 and 2009, the Company recorded compensation expense of approximately $0.2 million, which is reflected in general and administrative expenses. Additionally, the Company issued approximately 57,000 shares and 87,500 shares for the six month periods ended June 30, 2010 and 2009, respectively, related to these stock purchase plans. Deferred Compensation Plan The Company has a non-qualified deferred compensation plan which allows certain highly compensated employees to defer up to 75% of their base salary, up to 100% of their bonus, and up to 100% of the cash portion of their PSU compensation to the plan. Payments are made to participants based on their annual enrollment elections and plan balance. Participants earn a return on their deferred compensation that is based on hypothetical investments in certain mutual funds. Changes in market value of these hypothetical participant investments are reflected as an adjustment to the deferred compensation liability of the Company with an offset to compensation expense (see note 14). Supplemental Executive Retirement Plan The Company has a supplemental executive retirement plan (SERP). The SERP provides retirement benefits to the Company’s executive officers and certain other designated key employees. The SERP is an unfunded, non-qualified defined contribution retirement plan, and all contributions under the plan are unfunded credits to a notional account maintained for each participant. Under the SERP, the Company will generally make annual contributions to a retirement account based on age and years of service. The Company may also make discretionary contributions to a participant’s account. The Company recorded compensation expense of $5.2 million, inclusive of a discretionary contribution to the account of its chief operating officer in the amount of $4.7 million as part of its executive management transition, and $1.1 million in general and administrative expenses for the six month periods ended June 30, 2010 and 2009, respectively.

Equity-Method Investments

6 Months Ended

Jun. 30, 2010

Equity-Method Investments [Abstract]

Equity-Method Investments

(5) Equity-Method Investments

Investments in entities that are not controlled by the Company, but where the Company has the ability to exercise influence over the operations, are accounted for using the equity-method. The Company’s share of the income or losses of these entities is reflected as earnings from equity-method investments on its condensed consolidated statements of operations.

The Company’s equity-method investment balance in SPN Resources was approximately $47.3 million at June 30, 2010 and $52.3 million at December 31, 2009. The Company recorded earnings from its equity-method investment in SPN Resources of approximately $2.5 million for the six months ended June 30, 2010. For the six months ended June 30, 2009, the company recorded losses from its equity-method investment in SPN Resources of approximately $3.2 million. Additionally, the Company received $7.5 million of cash distributions from its equity-method investment in SPN Resources for the six month period ended June 30, 2010. The Company, where possible and at competitive rates, provides its products and services to assist SPN Resources in producing and developing its oil and gas properties. The Company had a receivable from SPN Resources of approximately $5.3 million at June 30, 2010 and approximately $1.9 million at December 31, 2009. The Company also recorded revenue from SPN Resources of approximately $8.4 million and $5.7 million for the six months ended June 30, 2010 and 2009, respectively.

During the second quarter of 2009, the Company wrote off the remaining carrying value of its 40% interest in Beryl Oil and Gas L.P. (BOG), $36.5 million, and suspended recording its share of BOG’s operating results under equity-method accounting as a result of continued negative BOG operating results, lack of viable interested buyers and unsuccessful attempts to renegotiate the terms and conditions of its loan agreements with lenders on terms that would preserve the Company’s investment. The Company’s total cash contribution for this equity-method investment in BOG was approximately $57.8 million. During the six months ended June 30, 2009, the Company recorded losses from its equity-method investment in BOG of approximately $14.0 million. The Company also recorded revenue of approximately $3.0 million from BOG for the six months ended June 30, 2009.

In October 2009, DBH, LLC (DBH) acquired BOG in connection with a restructuring of BOG in which the previously existing debt obligations of BOG were partially extinguished and otherwise renegotiated. Simultaneous with that acquisition, the Company acquired a 24.6% membership interest in DBH for approximately $8.7 million. The Company’s equity-method investment balance in DBH was approximately $10.3 million at June 30, 2010 and $7.7 million at December 31, 2009. During the six months ended June 30, 2010, the Company recorded earnings from its equity-method investment in DBH of approximately $3.7 million. Additionally, the Company received $1.1 million of cash distributions from its equity-method investment in DBH for the six month period ended June 30, 2010. The Company, where possible and at competitive rates, provides its products and services to assist DBH in producing and developing its oil and gas properties. The Company had a receivable from DBH of approximately $1.3 million at June 30, 2010 and approximately $2.3 million at December 31, 2009. The Company also recorded revenue of approximately $2.2 million from DBH for the six months ended June 30, 2010.

The Company also holds investments in other entities that are accounted for under the equity-method totaling $2.1 million at June 30, 2010 and $0.7 million at December 31, 2009.

Combined summarized financial information for all investments that are accounted for using the equity-method of accounting is as follows:


	June 30,		December 31
	2010		2009
Current Assets	$	133,020	$	162,870
Noncurrent assets		533,270		500,187

Total assets	$	666,290	$	663,057


Current liabilities	$	61,179	$	81,675
Noncurrent liabilities		224,564		218,003

Total liabilities	$	285,743	$	299,678


	Three Months Ended June 30,					Six Months Ended June 30,
	2010		2009			2010		2009
Revenues	$	50,273	$	62,885		$	106,049	$	124,019
Cost of sales		23,108		32,741			45,368		56,523

Gross profit	$	27,165	$	30,144		$	60,681	$	67,496


Income (loss) from continuing operations	$	6,495	$	(9,732	)	$	16,541	$	(9,540	)


Net income (loss)	$	5,504	$	(50,441	)	$	17,220	$	(49,025	)

Debt

6 Months Ended

Jun. 30, 2010

Debt [Abstract]

Debt

(6) Debt

The Company had a $325 million bank revolving credit facility. In July 2010, the Company amended its revolving credit facility to increase its borrowing capacity to $400 million from $325 million, with the right, at the Company’s option, to increase the size of the facility to $550 million. Additionally, the amendment extended the maturity date to July 20, 2014. Costs associated with amending the revolving credit facility were approximately $5.2 million. These costs will be capitalized and amortized over the term of the newly amended credit facility. At June 30, 2010, the Company had $139.6 million outstanding under the revolving credit facility with a weighted average interest rate of 4.1% per annum. The Company also had approximately $9.7 million of letters of credit outstanding, which reduce the Company’s borrowing availability under this credit facility. Amounts borrowed under the credit facility bear interest at a LIBOR rate plus margins that depend on the Company’s leverage ratio. Indebtedness under the credit facility is secured by substantially all of the Company’s assets, including the pledge of the stock of the Company’s principal subsidiaries. The credit facility contains customary events of default and requires that the Company satisfy various financial covenants. It also limits the Company’s ability to pay dividends or make other distributions, make acquisitions, make changes to the Company’s capital structure, create liens or incur additional indebtedness. At June 30, 2010, the Company was in compliance with all such covenants. In accordance with the authoritative guidance related to short-term obligations that are expected to be refinanced, the Company has classified amounts outstanding under this revolving credit as long-term debt.

At June 30, 2010, the Company had outstanding $13.8 million in U.S. Government guaranteed long-term financing under Title XI of the Merchant Marine Act of 1936, which is administered by the Maritime Administration, for two 245-foot class liftboats. The debt bears interest at 6.45% per annum and is payable in equal semi-annual installments of $405,000 on June 3^rd and December 3^rd of each year through the maturity date of June 3, 2027. The Company’s obligations are secured by mortgages on the two liftboats. In accordance with the agreement, the Company is required to comply with certain covenants and restrictions, including the maintenance of minimum net worth, working capital and debt-to-equity requirements. At June 30, 2010, the Company was in compliance with all such covenants.

The Company also has outstanding $300 million of 6 7/8% unsecured senior notes due 2014. The indenture governing the senior notes requires semi-annual interest payments on June 1^st and December 1^st of each year through the maturity date of June 1, 2014. The indenture contains certain covenants that, among other things, limit the Company from incurring additional debt, repurchasing capital stock, paying dividends or making other distributions, incurring liens, selling assets or entering into certain mergers or acquisitions. At June 30, 2010, the Company was in compliance with all such covenants.

The Company has outstanding $400 million of 1.50% unsecured senior exchangeable notes due 2026. Effective January 1, 2009, the Company retrospectively adopted authoritative guidance related to debt with conversion and other options, which requires the proceeds from the issuance of the 1.50% senior exchangeable notes to be allocated between a liability (issued at a discount) and an equity component. The exchangeable notes bear interest at a rate of 1.50% per annum and decrease to 1.25% per annum on December 15, 2011. Interest on the exchangeable notes is payable semi-annually on December 15^th and June 15^th of each year through the maturity date of December 15, 2026. The exchangeable notes do not contain any restrictive financial covenants.

Under certain circumstances, holders may exchange the notes for shares of the Company’s common stock. The initial exchange rate is 21.9414 shares of common stock per $1,000 principal amount of notes. This is equal to an initial exchange price of $45.58 per share. The exchange price represents a 35% premium over the closing share price at date of issuance. The notes may be exchanged under the following circumstances:

	•		during any fiscal quarter (and only during such fiscal quarter), if the last reported sale price of the Company’s common stock is greater than or equal to 135% of the applicable exchange price of the notes for at least 20 trading days in the period of 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter;

	•		prior to December 15, 2011, during the five business-day period after any ten consecutive trading-day period (the “measurement period”) in which the trading price of $1,000 principal amount of notes for each trading day in the measurement period was less than 95% of the product of the last reported sale price of the Company’s common stock and the exchange rate on such trading day;

	•		if the notes have been called for redemption;

	•		upon the occurrence of specified corporate transactions; or

	•		at any time beginning on September 15, 2026, and ending at the close of business on the second business day immediately preceding the maturity date of December 15, 2026.

Holders of the senior exchangeable notes may also require the Company to purchase all or a portion of their notes on December 15, 2011, December 15, 2016 and December 15, 2021 subject to certain administrative formalities. In each case, the purchase price payable will be equal to 100% of the principal amount of the notes to be purchased plus any accrued and unpaid interest with all amounts payable in cash.

In connection with the exchangeable note transaction, the Company simultaneously entered into agreements with affiliates of the initial purchasers to purchase call options and sell warrants on its common stock. The Company may exercise the call options it purchased at any time to acquire approximately 8.8 million shares of its common stock at a strike price of $45.58 per share. The owners of the warrants may exercise the warrants to purchase from the Company approximately 8.8 million shares of the Company’s common stock at a price of $59.42 per share, subject to certain anti-dilution and other customary adjustments. The warrants may be settled in cash, in common stock or in a combination of cash and common stock, at the Company’s option. Lehman Brothers OTC Derivatives, Inc. (LBOTC) is the counterparty to 50% of the Company’s call option and warrant transactions. In October 2008, LBOTC filed for bankruptcy protection. The Company continues to carefully monitor the developments affecting LBOTC. Although the Company may not retain the benefit of the call option due to LBOTC’s bankruptcy, the Company does not expect that there will be a material impact, if any, on the financial statements or results of operations. The call option and warrant transactions described above do not affect the terms of the outstanding exchangeable notes.

Decommissioning Liabilities

6 Months Ended

Jun. 30, 2010

Decommissioning Liabilities [Abstract]

Decommissioning Liabilities

(9) Decommissioning Liabilities

In connection with the recent acquisition of the Bullwinkle platform and its related assets, the Company records estimated future decommissioning liabilities in accordance with the authoritative guidance related to asset retirement obligations (decommissioning liabilities), which requires entities to record the fair value of a liability for an asset retirement obligation in the period in which it is incurred with a corresponding increase in the carrying amount of the related long-lived asset. Subsequent to initial measurement, the decommissioning liability is required to be accreted each period to present value. The Company’s decommissioning liabilities consist of costs related to the plugging of wells, the removal of the related facilities and equipment, and site restoration.

Whenever practical, the Company utilizes its own equipment and labor services to perform well abandonment and decommissioning work. When the Company performs these services, all recorded intercompany revenues and related costs of services are eliminated in the consolidated financial statements. The recorded decommissioning liability associated with a specific property is fully extinguished when the property is abandoned. The recorded liability is first reduced by all cash expenses incurred to abandon and decommission the property. If the recorded liability exceeds (or is less than) the Company’s total costs, then the difference is reported as income (or loss) within revenue during the period in which the work is performed. The Company reviews the adequacy of its decommissioning liabilities whenever indicators suggest that the estimated cash flows needed to satisfy the liability have changed materially. The timing and amounts of these expenditures are estimates, and changes to these estimates may result in additional (or decreased) liabilities recorded, which in turn would increase (or decrease) the carrying values of the related assets. The Company reviews its estimates for the timing of these expenditures on a quarterly basis.

The following table summarizes the activity for the Company’s decommissioning liabilities for the six month period ended June 30, 2010 (in thousands):


Decommissioning liabilities, beginning of period	$	—
Liabilities acquired		126,559
Accretion		3,359


Total decommissioning liabilities, end of period		129,918

Less: current portion		22,232


Long-term decommissioning liabilities, end of period	$	107,686

Segment Information

6 Months Ended

Jun. 30, 2010

Segment Information [Abstract]

Segment Information

(11)

Segment Information

Business Segments

During 2009, the Company renamed two of its segments in order to more accurately describe the markets and customers served by the businesses operating in each segment. The content of these segments has not changed, exclusive of the acquisitions of Hallin and the Bullwinkle platform. The Company currently has three reportable segments: subsea and well enhancement (formerly well intervention), drilling products and services (formerly rental tools), and marine. The subsea and well enhancement segment provides production-related services used to enhance, extend and maintain oil and gas production, which include integrated subsea services and engineering solutions, mechanical wireline, hydraulic workover and snubbing, well control, coiled tubing, electric line, pumping and stimulation, well bore evaluation services; well plug and abandonment services; and other oilfield services used to support drilling and production operations. The subsea and well enhancement segment also includes production handling arrangements as well as the production and sale of oil and gas. The drilling products and services segment rents and sells stabilizers, drill pipe, tubulars and specialized equipment for use with onshore and offshore oil and gas well drilling, completion, production and workover activities. It also provides on-site accommodations and bolting and machining services. The marine segment operates liftboats for production service activities, as well as oil and gas production facility maintenance, construction operations and platform removals.

Summarized financial information concerning the Company’s segments for the three and six months ended June 30, 2010 and 2009 is shown in the following tables (in thousands):

Three Months June 30, 2010


	Subsea and		Drilling
	Well		Products and								Consolidated
	Enhancement		Services		Marine			Unallocated			Total
Revenues	$	284,352	$	121,337	$	19,167		$	—		$	424,856
Cost of services (exclusive of items shown separately below)		167,875		43,759		18,282			—			229,916
Depreciation, depletion, amortization and accretion		23,670		28,053		2,576			—			54,299
General and administrative expenses		59,925		29,191		3,413			—			92,529
Income (loss) from operations		32,882		20,334		(5,104	)		—			48,112
Interest expense, net		—		—		—			(12,680	)		(12,680	)
Earnings from equity-method investments, net		—		—		—			2,170			2,170


Income (loss) before income taxes	$	32,882	$	20,334	$	(5,104	)	$	(10,510	)	$	37,602

Three Months June 30, 2009


	Subsea and			Drilling
	Well			Products and							Consolidated
	Enhancement			Services		Marine		Unallocated			Total
Revenues	$	231,121		$	102,533	$	27,507	$	—		$	361,161
Cost of services (exclusive of items shown separately below)		147,514			33,302		16,452		—			197,268
Depreciation and amortization		21,608			26,276		3,094		—			50,978
General and administrative expenses		34,410			22,832		3,041		—			60,283
Reduction in value of assets		92,683			—		—		—			92,683
Income (loss) from operations		(65,094	)		20,123		4,920		—			(40,051	)
Interest expense, net		—			—		—		(11,720	)		(11,720	)
Loss from equity-method investments, net		—			—		—		(19,426	)		(19,426	)
Reduction in value of equity-method investments		—			—		—		(36,486	)		(36,486	)


Income (loss) before income taxes	$	(65,094	)	$	20,123	$	4,920	$	(67,632	)	$	(107,683	)

Six Months June 30, 2010


	Subsea and		Drilling
	Well		Products and								Consolidated
	Enhancement		Services		Marine			Unallocated			Total
Revenues	$	517,118	$	235,614	$	36,635		$	—		$	789,367
Cost of services (exclusive of items shown separately below)		310,744		83,854		34,370			—			428,968
Depreciation, depletion, amortization and accretion		44,092		56,289		4,966			—			105,347
General and administrative expenses		105,703		51,190		6,360			—			163,253
Income (loss) from operations		56,579		44,281		(9,061	)		—			91,799
Interest expense, net		—		—		—			(26,718	)		(26,718	)
Earnings from equity-method investments, net		—		—		—			6,155			6,155


Income (loss) before income taxes	$	56,579	$	44,281	$	(9,061	)	$	(20,563	)	$	71,236

Six Months June 30, 2009


	Subsea and			Drilling
	Well			Products and							Consolidated
	Enhancement			Services		Marine		Unallocated			Total
Revenues	$	519,178		$	228,477	$	50,615	$	—		$	798,270
Cost of services (exclusive of items shown separately below)		313,003			75,338		31,392		—			419,733
Depreciation and amortization		43,665			51,647		5,534		—			100,846
General and administrative expenses		73,221			46,060		5,988		—			125,269
Reduction in value of assets		92,683			—		—		—			92,683
Income (loss) from operations		(3,394	)		55,432		7,701		—			59,739
Interest expense, net		—			—		—		(25,008	)		(25,008	)
Loss from equity-method investments, net		—			—		—		(17,170	)		(17,170	)
Reduction in value of equity-method investments		—			—		—		(36,486	)		(36,486	)


Income (loss) before income taxes	$	(3,394	)	$	55,432	$	7,701	$	(78,664	)	$	(18,925	)

Identifiable Assets


	Subsea and		Drilling
	Well		Products and						Consolidated
	Enhancement		Services		Marine		Unallocated		Total
June 30, 2010	$	1,654,999	$	790,806	$	283,864	$	57,579	$	2,787,248

December 31, 2009	$	1,377,122	$	759,418	$	299,834	$	80,291	$	2,516,665

Geographic Segments

The Company attributes revenue to countries based on the location where services are performed or the destination of the sale of products. Long-lived assets consist primarily of property, plant and equipment and are attributed to the United States or other countries based on the physical location of the asset at the end of a period. The Company’s information by geographic area is as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2010		2009		2010		2009
Revenues:
United States	$	311,790	$	290,406	$	567,115	$	654,535
Other Countries		113,066		70,755		222,252		143,735


Total	$	424,856	$	361,161	$	789,367	$	798,270


	June 30,		December 31,
	2010		2009
Long-Lived Assets:
United States	$	865,243	$	828,662
Other Countries		410,051		230,314


Total	$	1,275,294	$	1,058,976

Reduction in Value of Assets	6 Months Ended
Reduction in Value of Assets	Jun. 30, 2010
Reduction in Value of Assets [Abstract]
Reduction in Value of Assets	(13) Reduction in Value of Assets In accordance with the authoritative guidance related to impairment or disposal of long-lived assets, assets such as property, plant and equipment and purchased intangibles subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of such assets to estimated undiscounted future cash flows expected to be generated by the assets. Cash flow estimates are based upon, among other things, historical results adjusted to reflect the best estimate of future market rates, utilization levels, and operating performance. The Company’s assets are grouped by subsidiary or division for impairment testing, except for liftboats, which are grouped together by leg length. These groupings represent the lowest level of identifiable cash flows. If the assets’ future estimated cash flows are less than the carrying amount of those items, impairment losses are recorded by the amount by which the carrying amount of such assets exceeds the fair value. The net carrying value of assets not fully recoverable is reduced to fair value. The estimate of fair value represents the Company’s best estimate based on industry trends and reference to market transactions and is subject to variability. The oil and gas industry is cyclical and these estimates of the period over which future cash flows will be generated, as well as the predictability of these cash flows, can have a significant impact on the carrying values of these assets and, in periods of prolonged down cycles, may result in impairment charges. During the second quarter of 2009, due to continued decline in demand for services in the domestic land markets, the Company identified impairments of certain amortizable intangible assets of approximately $92.7 million.

Fair Value Measurements

6 Months Ended

Jun. 30, 2010

Fair Value Measurements [Abstract]

Fair Value Measurements

(14) Fair Value Measurements

The Company follows the authoritative guidance for fair value measurements relating to financial and nonfinancial assets and liabilities, including presentation of required disclosures herein. This guidance establishes a fair value framework requiring the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets and liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows:


Level 1:		Unadjusted quoted prices in active markets for identical assets and liabilities.


Level 2:		Observable inputs other than those included in Level 1 such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical assets or liabilities in inactive markets or model-derived valuations or other inputs that can be corroborated by observable market data.


Level 3:		Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability.

The following table provides a summary of the financial assets and liabilities measured at fair value on a recurring basis at June 30, 2010 and December 31, 2009 (in thousands):


			Fair Value Measurements at Reporting Date Using
	June 30,
	2010		Level 1		Level 2		Level 3
Intangible and other long-term assets
Non-qualified deferred compensation assets	$	11,120	$	2,235	$	8,885		—

Other long-term liabilities
Non-qualified deferred compensation liabilities	$	15,088		—	$	15,088		—
Interest rate swap agreement	$	373		—	$	373		—

	December 31,
	2009		Level 1		Level 2		Level 3
Intangible and other long-term assets
Non-qualified deferred compensation assets	$	12,382	$	4,586	$	7,796		—

Other long-term liabilities
Non-qualified deferred compensation liabilities	$	15,758		—	$	15,758		—

The Company’s non-qualified deferred compensation plan allows officers and highly compensated employees to defer receipt of a portion of their compensation and contribute such amounts to one or more hypothetical investment funds (see note 4). The Company entered into a separate trust agreement, subject to general creditors, to segregate the assets of the plan and reports the accounts of the trust in its condensed consolidated financial statements. These investments are reported at fair value based on unadjusted quoted prices in active markets for identifiable assets and observable inputs for similar assets and liabilities, which represent Levels 1 and 2, respectively, in the fair value hierarchy. The realized and unrealized holding gains and losses related to non-qualified deferred compensation assets are recorded in interest expense, net. The realized and unrealized holding gains and losses related to non-qualified deferred compensation liabilities are recorded in general and administrative expenses.

In March 2010, the Company entered into an interest rate swap agreement for a notional amount of $150 million, whereby the Company is entitled to receive quarterly interest payments at a fixed rate of 6 7/8% per annum and is obligated to make quarterly interest payments at a floating rate, which is adjusted every 90 days, based on LIBOR plus a fixed margin. The Company entered into the interest rate swap agreement in an effort to reduce its overall borrowing costs. The swap agreement, scheduled to terminate on June 1, 2014, is designated as a fair value hedge of a portion of the 6 7/8% unsecured senior notes, as the derivative has been tested to be highly effective in offsetting changes in the fair value of the underlying note. As this derivative is classified as a fair value hedge, the changes in the fair value of the derivative are offset against the changes in the fair value of the underlying note in interest expense, net (see note 15).

In 2009, the Company adopted the authoritative guidance regarding non-financial assets and non-financial liabilities that are remeasured at fair value on a non-recurring basis. In accordance with this guidance, long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. During the second quarter of 2009, due to continued decline in demand for services in the domestic land markets, the Company identified impairments of certain amortizable intangible assets of approximately $92.7 million (see note 13). Additionally, the Company recorded a $36.5 million reduction in the value of its equity-method investment in BOG (see note 5).

The following table reflects the fair value measurements used in testing the impairment of intangible assets and equity-method investments during the six months ended June 30, 2009 (in thousands):


	June 30,		Fair Value Measurements Using				Total
	2009		Level 1	Level 2	Level 3		Losses
Intangible and other long-term assets, net	$	-0-			$	-0-	$	(92,683	)

Equity-method investments	$	-0-			$	-0-	$	(36,486	)

The fair value of the Company’s financial instruments of cash equivalents, accounts receivable, equity-method investments and current maturities of long-term debt approximates their carrying amounts. The fair value of the Company’s long-term debt was approximately $815.4 million and $853.2 million at June 30, 2010 and December 31, 2009, respectively. The fair value of these debt instruments is determined by reference to the market value of the instrument as quoted in an over-the-counter market.

New Accounting Pronouncements	6 Months Ended
New Accounting Pronouncements	Jun. 30, 2010
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements	(19) New Accounting Pronouncements On January 1, 2010, the Company adopted Accounting Standards Codification 810-10 (ASC 810-10), “Amendments to FASB Interpretation No. 46(R), Consolidation of Variable Interest Entities,” for determining whether an entity is a variable interest entity (VIE) and requires an enterprise to perform an analysis to determine whether the enterprise’s variable interest or interests give it a controlling financial interest in a VIE. ASC 810-10 also requires ongoing assessments of whether an enterprise is the primary beneficiary of a VIE, requires enhanced disclosures and eliminates the scope exclusion for qualifying special-purpose entities. The adoption of ASC 810-10 did not have a significant impact on the results of operations and financial position. On January 1, 2010, the Company adopted Accounting Standards Update 2010-06 (ASU 2010-06), “Improving Disclosures about Fair Value Measurements.” The update provides an amendment to ASC 820-10, “Fair Value Measurements and Disclosures,” requiring additional disclosures of significant transfers between Level 1 and Level 2 within the fair value hierarchy, as well as information about purchases, sales, issuances and settlements using unobservable inputs (Level 3). ASU 2010-06 is effective for interim and annual reporting periods beginning after December 15, 2009 for new disclosures and clarifications of existing disclosures, except for disclosures about purchases, sales, issuances and settlements in the rollforward of activity in the Level 3 fair value measurements, which are effective for fiscal years beginning after December 15, 2010. The adoption of ASU 2010-06 did not have a significant impact on the results of operations and financial position. In October 2009, the Financial Accounting Standards Board issued Accounting Standards Update 2009-13 (ASU 2009-13), “Multiple-Deliverable Revenue Arrangements.” The new standard changes the requirements for establishing separate units of accounting in a multiple element arrangement and requires the allocation of arrangement consideration to each deliverable based on the relative selling price. The selling price for each deliverable is based on vendor-specific objective evidence (VSOE) if available, third-party evidence if VSOE is not available, or estimated selling price if neither VSOE or third-party evidence is available. ASU 2009-13 is effective for revenue arrangements entered into in fiscal years beginning on or after June 15, 2010. The Company is currently evaluating the impact the adoption of ASU 2009-13 will have, if any, on its results of operations and financial position.

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2010
Basis of Presentation [Abstract]
Basis of Presentation	(1) Basis of Presentation Certain information and footnote disclosures normally in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission; however, management believes the disclosures which are made are adequate to make the information presented not misleading. These financial statements and footnotes should be read in conjunction with the consolidated financial statements and notes thereto included in Superior Energy Services, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2009 and Management’s Discussion and Analysis of Financial Condition and Results of Operations herein. The financial information of Superior Energy Services, Inc. and subsidiaries (the Company) for the three and six months ended June 30, 2010 and 2009 has not been audited. However, in the opinion of management, all adjustments necessary to present fairly the results of operations for the periods presented have been included therein. The results of operations for the first six months of the year are not necessarily indicative of the results of operations that might be expected for the entire year. Certain previously reported amounts have been reclassified to conform to the 2010 presentation.

Earnings per Share	6 Months Ended
Earnings per Share	Jun. 30, 2010
Earnings per Share [Abstract]
Earnings per Share	(7) Earnings per Share Basic earnings (loss) per share is computed by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional common shares that could have been outstanding assuming the exercise of stock options and restricted stock units and the potential shares that would have a dilutive effect on earnings per share. In connection with the Company’s outstanding 1.50% senior exchangeable notes, there could be a dilutive effect on earnings per share if the price of the Company’s stock exceeds the initial exchange price of $45.58 per share for a specified period of time. In the event the Company’s common stock exceeds $45.58 per share for a specified period of time, the first $1.00 the price exceeds $45.58 would cause a dilutive effect of approximately 188,400 shares. The impact on the calculation of earnings per share varies depending on when during the quarter the $45.58 per share price is reached.

Notes Receivable	6 Months Ended
Notes Receivable	Jun. 30, 2010
Notes Receivable [Abstract]
Notes Receivable	(10) Notes Receivable Notes receivable consist of a commitment from the seller of certain assets to pay the Company upon the decommissioning of the Bullwinkle platform. These notes are recorded at present value, and the related discount is amortized to interest income based on the expected timing of the platform’s removal.

Guarantee	6 Months Ended
Guarantee	Jun. 30, 2010
Guarantee [Abstract]
Guarantee	(12) Guarantee As part of SPN Resources’ acquisition of its oil and gas properties, the Company guaranteed SPN Resources’ performance of its decommissioning liabilities. In accordance with authoritative guidance related to guarantees, the Company has assigned an estimated value of $2.7 million at both June 30, 2010 and December 31, 2009, related to decommissioning performance guarantees, which is reflected in other long-term liabilities. The Company believes that the likelihood of being required to perform these guarantees is remote. In the unlikely event that SPN Resources defaults on the decommissioning liabilities, the total maximum potential obligation under these guarantees is estimated to be approximately $111.4 million, net of the contractual right to receive payments from third parties, which is approximately $25.1 million, as of June 30, 2010. The total maximum potential obligation will decrease over time as the underlying obligations are fulfilled by SPN Resources.

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2010
Income Taxes [Abstract]
Income Taxes	(16) Income Taxes The Company follows authoritative guidance surrounding accounting for uncertainty in income taxes. It is the Company’s policy to recognize interest and applicable penalties, if any, related to uncertain tax positions in income tax expense. In the six month period ended June 30, 2010, the Company’s recognition of unrecorded tax benefits increased to $27.5 million as of June 30, 2010 from $11.0 million as of December 31, 2009. This increase was related to foreign income tax attributable to the Hallin acquisition (see note 2). In addition to its U.S. federal tax return, the Company files income tax returns in various state and foreign jurisdictions. The number of years that are open under the statute of limitations and subject to audit varies depending on the tax jurisdiction. The Company remains subject to U.S. federal tax examinations for years after 2005.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2010
Commitments and Contingencies [Abstract]
Commitments and Contingencies	(17) Commitments and Contingencies Due to the nature of the Company’s business, the Company is involved, from time to time, in routine litigation or subject to disputes or claims regarding our business activities. Legal costs related to these matters are expensed as incurred. In management’s opinion, none of the pending litigation, disputes or claims is expected to have a material adverse effect on the Company’s financial condition, results of operations or liquidity.

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2010
Subsequent Events [Abstract]
Subsequent Events	(18) Subsequent Events In 2009, the Financial Accounting Standards Board issued authoritative guidance regarding subsequent events, which establishes general standards of accounting for, and disclosure of, events that occur after the balance sheet date, but before financial statements are issued or are available to be issued. In accordance with this guidance, the Company has evaluated and disclosed all material subsequent events that occurred after the balance sheet date, but before financial statements were issued.