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AGGREGATED฀OPTION฀EXERCISES฀DURING฀2004฀
AND฀OPTION฀VALUES฀AT฀DECEMBER฀31,฀2004
The฀following฀table฀sets฀forth฀certain฀information฀regarding฀options฀the฀persons฀named฀in฀the฀Summary฀Compensation฀Table฀
above฀exercised฀during฀2004฀and฀the฀options฀those฀persons฀held฀at฀December฀31,฀2004.฀The฀values฀of฀unexercised฀in-the-money฀
stock฀options฀at฀December฀31,฀2004,฀shown฀below,฀are฀presented฀pursuant฀to฀SEC฀rules.฀The฀actual฀amount,฀if฀any,฀realized฀upon฀
exercise฀of฀stock฀options฀will฀depend฀upon฀the฀market฀price฀of฀the฀Common฀Stock฀relative฀to฀the฀exercise฀price฀per฀share฀of฀the฀
stock฀option฀at฀the฀time฀the฀stock฀option฀is฀exercised.
฀ Option฀Exercises฀ Unexercised฀Options฀at฀December฀31,฀2004
฀฀ Number฀of฀Securities฀ Value฀of฀Unexercised฀ ฀฀
฀ Underlying฀Unexercised฀Options฀ In-the-Money฀Options฀($)(1)
฀ Shares฀Acquired฀ Value฀
Name฀ on฀Exercise฀(#)฀ Realized฀($)฀ Exercisable฀ Unexercisable฀ Exercisable฀ Unexercisable฀
Michael฀E.฀Wiley฀ –฀ $฀ –฀ 1,950,791฀ –฀ $฀11,266,322฀ $฀ –
Chad฀C.฀Deaton฀ –฀ ฀ –฀ –฀ 75,000฀ ฀ –฀ ฀ –
G.฀Stephen฀Finley฀ 150,860฀ ฀ 3,207,284฀ 130,829฀ 152,336฀ ฀ 1,273,960฀ ฀ 1,313,228
James฀R.฀Clark฀ –฀ ฀ –฀ 48,332฀ 123,168฀ ฀ 305,164฀ ฀ 777,406
Alan฀R.฀Crain,฀Jr.฀ 17,000฀ ฀ 284,170฀ 101,784฀ 104,668฀ ฀ 594,900฀ ฀ 894,899
Douglas฀J.฀Wall฀ 140,002฀ ฀ 2,846,838฀฀ 50,347฀ 52,002฀ ฀ 401,901฀ ฀ 438,738
(1)฀ Based฀on฀the฀closing฀price฀of฀the฀Common฀Stock฀of฀$42.67฀on฀December฀31,฀2004,฀the฀last฀trading฀day฀of฀2004.
LONG-TERM฀INCENTIVE฀PLAN฀
FOR฀2004-2006฀PERFORMANCE฀PERIOD
฀ ฀ ฀ ฀ Number฀of฀฀ Performance฀
Name฀ ฀ ฀ ฀ Target฀Shares(1)฀ Period฀Payout
Michael฀E.฀Wiley(2)฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ 8,862฀ 01/01/04–12/31/06฀
Chad฀C.฀Deaton฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ 17,000฀ 01/01/04–12/31/06฀
G.฀Stephen฀Finley฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ 7,774฀ 01/01/04–12/31/06฀
James฀R.฀Clark฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ 13,993฀ 01/01/04–12/31/06฀
Alan฀R.฀Crain,฀Jr.฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ 4,664฀ 01/01/04–12/31/06฀
Douglas฀J.฀Wall฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ 3,109฀ 01/01/04–12/31/06
(1)฀ Under฀the฀Company’s฀2002฀Director฀&฀Officer฀Long-Term฀Incentive฀Plan,฀individuals฀may฀be฀awarded฀target฀shares฀that฀subject฀to฀the฀terms฀and฀conditions฀of฀the฀plan฀
may฀entitle฀the฀individual฀to฀receive฀shares฀of฀Common฀Stock.฀If฀(a)฀the฀Company’s฀total฀shareholder฀return฀for฀the฀three-year฀period฀ending฀December฀31,฀2006฀(the฀
“Performance฀Period”),฀equals฀or฀exceeds฀the฀median฀of฀the฀total฀shareholder฀returns฀of฀the฀Morgan฀Stanley฀Oil฀Services฀Index฀Companies฀for฀the฀Performance฀Period,฀
(b)฀a฀Change฀in฀Control฀of฀the฀Company฀has฀not฀occurred฀on฀or฀before฀December฀31,฀2006,฀and฀(c)฀the฀executive฀remains฀in฀the฀active฀employ฀of฀the฀Company฀and/or฀
one฀or฀more฀wholly-owned฀subsidiaries฀of฀the฀Company฀through฀the฀last฀day฀of฀the฀Performance฀Period,฀then฀the฀Company฀will฀issue฀to฀the฀executive฀that฀number฀of฀
shares฀of฀Common฀Stock฀equal฀to฀(x)฀the฀number฀of฀shares฀of฀Common฀Stock฀set฀forth฀above฀as฀the฀“Number฀of฀Target฀Shares”฀for฀the฀executive’s฀performance฀
award,฀multiplied฀by฀(y)฀the฀applicable฀“Percentage฀Target฀Earned”฀factor฀specified฀in฀the฀table฀below.฀If฀(a)฀the฀Company’s฀total฀shareholder฀return฀for฀the฀Perfor-
mance฀Period฀is฀less฀than฀the฀median฀of฀the฀total฀shareholder฀returns฀of฀the฀Morgan฀Stanley฀Oil฀Services฀Index฀Companies฀for฀the฀Performance฀Period,฀and฀(b)฀a฀
Change฀in฀Control฀of฀the฀Company฀has฀not฀occurred฀on฀or฀before฀December฀31,฀2006,฀then฀the฀award฀will฀lapse฀and฀be฀forfeited฀as฀of฀December฀31,฀2006.
฀ Percentile฀Rank฀of฀the฀Company’s฀Total฀Shareholder฀Return฀for฀the฀ ฀ ฀ ฀ ฀ ฀
Performance฀Period฀as฀Compared฀to฀the฀Total฀Shareholder฀Returns฀of฀฀ ฀ ฀฀ Percentage฀Target฀฀
฀ all฀Morgan฀Stanley฀Oil฀Services฀Index฀Companies฀ ฀ ฀ ฀ Earned
95th฀Percentile฀or฀more฀ 200%
85th฀Percentile฀or฀more,฀but฀less฀than฀95th฀Percentile฀ 150%
80th฀Percentile฀or฀more,฀but฀less฀than฀85th฀Percentile฀ 125%
70th฀Percentile฀or฀more,฀but฀less฀than฀80th฀Percentile฀ 100%
65th฀Percentile฀or฀more,฀but฀less฀than฀70th฀Percentile฀ 75%
55th฀Percentile฀or฀more,฀but฀less฀than฀65th฀Percentile฀ 50%
50th฀Percentile฀or฀more,฀but฀less฀than฀55th฀Percentile฀ 25%
Less฀than฀50th฀Percentile฀ 0%
(2)฀ Mr.฀Wiley฀retired฀from฀the฀Company฀on฀October฀25,฀2004.฀In฀accordance฀with฀the฀terms฀and฀conditions฀of฀the฀performance฀award฀agreements,฀Mr.฀Wiley฀forfeited฀his฀
performance฀award฀units฀and฀therefore฀will฀receive฀no฀payment฀under฀these฀awards.
Proxy฀Statement฀฀฀฀฀13