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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Operations by Segment | The below tables contain revenues and certain expenses regularly presented to the CODM in order to make decisions regarding the Company's business, including resource allocation and performance assessments, as well as the current focus in compliance with ASC 280, Segment Reporting, for the periods presented (in thousands):
| Three Months Ended March 31, 2025 |
|  | Production Solutions |  |  |  | Natural Gas Technologies |  |  |  | Total |
Revenues from external customers | $ |  | 115,992 |  |  | $ |  | 76,358 |  |  | $ |  | 192,350 |
Intersegment revenues |  |  | — |  |  |  |  | 9,139 |  |  |  |  | 9,139 |
Total revenues |  |  | 115,992 |  |  |  |  | 85,497 |  |  |  |  | 201,489 |
Elimination of intersegment revenue |  |  |  |  |  |  |  |  |  |  | (9,139 | )
Total consolidated revenues |  |  |  |  |  |  |  |  |  |  | 192,350 |
Less: |  |  |  |  |  |  |  |  |  |  |
Cost of revenues from external customers (1) |  |  | 52,323 |  |  |  |  | 40,094 |  |  |  |  | 92,417 |
Intersegment cost of revenue |  |  | — |  |  |  |  | 9,139 |  |  |  |  | 9,139 |
Total cost of revenues |  |  | 52,323 |  |  |  |  | 49,233 |  |  |  |  | 101,556 |
Elimination of intersegment cost of revenue |  |  |  |  |  |  |  |  |  |  | (9,139 | )
Total consolidated cost of revenue |  |  |  |  |  |  |  |  |  |  | 92,417 |
Selling, general and administrative expenses (1) |  |  | 14,677 |  |  |  |  | 10,054 |  |  |  |  | 24,731 |
Depreciation and amortization (1) |  |  | 19,614 |  |  |  |  | 14,499 |  |  |  |  | 34,113 |
(Gain) loss on sale of equipment |  |  | 46 |  |  |  |  | (91 | ) |  |  |  | (45 | )
Segment profit | $ |  | 29,332 |  |  | $ |  | 11,802 |  |  |  |  | 41,134 |
Corporate expenses (2) |  |  |  |  |  |  |  |  |  |  | (5,809 | )
Total operating income |  |  |  |  |  |  |  |  |  |  | 35,325 |
Interest expense |  |  |  |  |  |  |  |  |  |  | (5,365 | )
Other expense |  |  |  |  |  |  |  |  |  |  | (267 | )
Income before provision for income taxes |  |  |  |  |  |  |  |  | $ |  | 29,693 |
____________________________ (1) Represents the significant expense categories and amounts for each reportable operating segment that are regularly provided to the chief operating decision maker. (2) Comprised primarily of expenses not allocated to our reportable segments.
| Three Months Ended March 31, 2024 |
|  | Production Solutions |  |  |  | Natural Gas Technologies |  |  |  | Total |
Revenues from external customers | $ |  | 46,163 |  |  |  |  | 20,549 |  |  | $ |  | 66,712 |
Intersegment revenues |  |  | — |  |  |  |  | 13,599 |  |  |  |  | 13,599 |
Total revenues |  |  | 46,163 |  |  |  |  | 34,148 |  |  |  |  | 80,311 |
Elimination of intersegment revenue |  |  |  |  |  |  |  |  |  |  | (13,599 | )
Total consolidated revenues |  |  |  |  |  |  |  |  |  |  | 66,712 |
Less: |  |  |  |  |  |  |  |  |  |  |
Cost of revenues from external customers (1) |  |  | 10,975 |  |  |  |  | 16,933 |  |  |  |  | 27,908 |
Intersegment cost of revenue |  |  | — |  |  |  |  | 13,599 |  |  |  |  | 13,599 |
Total cost of revenues |  |  | 10,975 |  |  |  |  | 30,532 |  |  |  |  | 41,507 |
Elimination of intersegment cost of revenue |  |  |  |  |  |  |  |  |  |  | (13,599 | )
Total consolidated cost of revenue |  |  |  |  |  |  |  |  |  |  | 27,908 |
Selling, general and administrative expenses (1) |  |  | 3,414 |  |  |  |  | 1,045 |  |  |  |  | 4,459 |
Depreciation and amortization (1) |  |  | 11,426 |  |  |  |  | 286 |  |  |  |  | 11,712 |
Loss on sale of equipment |  |  | 389 |  |  |  |  | — |  |  |  |  | 389 |
Segment profit | $ |  | 19,959 |  |  | $ |  | 2,285 |  |  |  |  | 22,244 |
Corporate expenses (2) |  |  |  |  |  |  |  |  |  |  | (17 | )
Total operating income |  |  |  |  |  |  |  |  |  |  | 22,227 |
Interest expense |  |  |  |  |  |  |  |  |  |  | (4,807 | )
Other expense |  |  |  |  |  |  |  |  |  |  | (102 | )
Income before provision for income taxes |  |  |  |  |  |  |  |  | $ |  | 17,318 |
____________________________ (1) Represents the significant expense categories and amounts for each reportable operating segment that are regularly provided to the chief operating decision maker. (2) Comprised primarily of expenses not allocated to our reportable segments.
Schedule of Financial Information of Operating Segments | The following tables set forth certain selected financial information for our operating segments for the periods presented (in thousands):
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Segment capital expenditures: |  |  |  |  |  |  |  |
Production Solutions |  | $ |  | 11,381 |  |  | $ |  | 14,774 |
Natural Gas Technologies |  |  |  | 16,469 |  |  |  |  | — |
Total segment capital expenditures |  |  |  | 27,850 |  |  |  |  | 14,774 |
Corporate and other |  |  |  | — |  |  |  |  | — |
Total capital expenditures |  | $ |  | 27,850 |  |  | $ |  | 14,774 |
|  | As of March 31, |  |  | As of December 31, |
|  | 2025 |  |  | 2024 |
Segment assets: |  |  |  |  |  |  |  |
Production Solutions |  | $ |  | 895,605 |  |  | $ |  | 886,372 |
Natural Gas Technologies |  |  |  | 748,910 |  |  |  |  | 730,459 |
Total segment assets |  |  |  | 1,644,515 |  |  |  |  | 1,616,831 |
Eliminations |  |  |  | (52,400 | ) |  |  |  | (41,639 | )
Corporate and other |  |  |  | 13,695 |  |  |  |  | 13,757 |
Total assets |  | $ |  | 1,605,810 |  |  | $ |  | 1,588,949 |

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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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