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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill by Operating Segment | Goodwill by operating segment as of December 31, 2023 and 2024 and changes for the years then ended are as follows (in thousands):
| Completion Services |  | Drilling Products |  | Total
Balance, December 31, 2023 | $ | 922,125 |  |  | $ | 457,616 |  |  | $ | 1,379,741 |
Measurement period adjustment | — |  |  | (7,113) |  |  | (7,113) |
Impairment | (885,240) |  |  | — |  |  | (885,240) |
Balance, December 31, 2024 | $ | 36,885 |  |  | $ | 450,503 |  |  | $ | 487,388 |
Schedule 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:
| Segment |  | Weighted Average Useful Life
|  |  | (in years)
Customer relationships | Drilling Services, Completion Services and Drilling Products |  | 11.5
Developed technology | Drilling Services, Completion Services and Drilling Products |  | 5.2
Trade name | Completion Services and Drilling Products |  | 10.2
Other | Drilling Services and Completion Services |  | 3.1
Schedule of Gross Carrying Amount and Accumulated Amortization of Intangible Assets | The gross carrying amount and accumulated amortization of intangible assets as of December 31, 2024 and 2023 are as follows (in thousands):
| 2024 |  | 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships | $ | 782,789 |  |  | $ | (95,785) |  |  | $ | 687,004 |  |  | $ | 786,715 |  |  | $ | (25,563) |  |  | $ | 761,152 |
Developed technology | 202,772 |  |  | (56,562) |  |  | 146,210 |  |  | 202,772 |  |  | (16,435) |  |  | 186,337 |
Trade name | 101,000 |  |  | (14,097) |  |  | 86,903 |  |  | 101,000 |  |  | (3,406) |  |  | 97,594 |
Other | 12,986 |  |  | (3,493) |  |  | 9,493 |  |  | 7,345 |  |  | (731) |  |  | 6,614 |
Intangible assets, net | $ | 1,099,547 |  |  | $ | (169,937) |  |  | $ | 929,610 |  |  | $ | 1,097,832 |  |  | $ | (46,135) |  |  | $ | 1,051,697 |
Schedule of 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, |
2025 | $ | 123,645 |
2026 | 123,277 |
2027 | 121,250 |
2028 | 105,236 |
2029 | 80,068 |
Thereafter | 373,535 |
Total | $ | 927,011 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
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