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Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Operating Segment

Goodwill by operating segment as of December 31, 2022 and 2023 and changes for the years then ended are as follows (in thousands):

		Completion				Drilling
		Services				Products				Total
Balance, December 31, 2022		$	—			$	—			$	—
Goodwill acquired			921,656				451,341				1,372,997
Measurement period adjustment			469				6,275				6,744
Balance, December 31, 2023		$	922,125			$	457,616			$	1,379,741

Summary of Segment and Weighted Average Useful Life of Intangible Assets

The following table identifies the segment and weighted average useful life of each of our intangible assets:

				Weighted Average
		Segment		Useful Life
				(in years)
Customer relationships		Drilling Services, Completion Services and Drilling Products			11.1
Developed technology		Drilling Services, Completion Services and Drilling Products			4.6
Trade name		Completion Services and Drilling Products			9.7
Other		Drilling Services and Completion Services			1.8

Gross Carrying Amount and Accumulated Amortization of Intangible Assets

The gross carrying amount and accumulated amortization of intangible assets as of December 31, 2023 and 2022 are as follows (in thousands):

		2023												2022
		Gross Carrying				Accumulated				Net Carrying				Gross Carrying				Accumulated				Net Carrying
		Amount				Amortization				Amount				Amount				Amortization				Amount
Customer relationships		$	786,715			$	(25,563	)		$	761,152			$	1,800			$	(1,071	)		$	729
Developed technology			202,772				(16,435	)			186,337				7,772				(3,773	)			3,999
Trade name			101,000				(3,406	)			97,594				—				—				—
Other			7,345				(731	)			6,614				1,450				(333	)			1,117
Intangible assets, net		$	1,097,832			$	(46,135	)		$	1,051,697			$	11,022			$	(5,177	)		$	5,845

Remaining Amortization Expense Associated with Finite-Lived Intangible Assets

The remaining amortization expense associated with finite-lived intangible assets, excluding in-process software, is expected to be as follows (in thousands):

Year ending December 31,
2024		$	121,307
2025			121,039
2026			120,702
2027			120,674
2028			105,481
Thereafter			456,608
Total		$	1,045,811

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