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Segment Information (Tables)
12 Months Ended
Dec. 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):

 

Year Ended December 31, 2025

 

 

 

Production Solutions

 

 

 

Natural Gas Technologies

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

$

 

497,275

 

 

$

 

262,444

 

 

$

 

759,719

 

Intersegment revenues

 

 

 

 

 

 

58,786

 

 

 

 

58,786

 

Total revenues

 

 

497,275

 

 

 

 

321,230

 

 

 

 

818,505

 

Elimination of intersegment revenue

 

 

 

 

 

 

 

 

 

 

(58,786

)

Total consolidated revenues

 

 

 

 

 

 

 

 

 

 

759,719

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues from external customers (1)

 

 

225,361

 

 

 

 

121,189

 

 

 

 

346,550

 

Intersegment cost of revenue

 

 

179

 

 

 

 

58,607

 

 

 

 

58,786

 

Total cost of revenues

 

 

225,540

 

 

 

 

179,796

 

 

 

 

405,336

 

Elimination of intersegment cost of revenue

 

 

 

 

 

 

 

 

 

 

(58,786

)

Total consolidated cost of revenue

 

 

 

 

 

 

 

 

 

 

346,550

 

Selling, general and administrative expenses (1)

 

 

59,307

 

 

 

 

33,915

 

 

 

 

93,222

 

Depreciation and amortization (1)

 

 

84,215

 

 

 

 

60,596

 

 

 

 

144,811

 

(Gain) loss on sale of equipment

 

 

959

 

 

 

 

(217

)

 

 

 

742

 

Segment profit

$

 

127,254

 

 

$

 

47,140

 

 

 

 

174,394

 

Corporate expenses (2)

 

 

 

 

 

 

 

 

 

 

(25,382

)

Total operating income

 

 

 

 

 

 

 

 

 

 

149,012

 

Interest expense

 

 

 

 

 

 

 

 

 

 

(18,939

)

Other expense

 

 

 

 

 

 

 

 

 

 

740

 

Income before provision for income taxes

 

 

 

 

 

 

 

 

$

 

130,813

 

____________________________

(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.

 

Year Ended December 31, 2024

 

 

 

Production Solutions

 

 

 

Natural Gas Technologies

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

$

 

327,805

 

 

$

 

207,473

 

 

$

 

535,278

 

Intersegment revenues

 

 

 

 

 

 

39,163

 

 

 

 

39,163

 

Total revenues

 

 

327,805

 

 

 

 

246,636

 

 

 

 

574,441

 

Elimination of intersegment revenue

 

 

 

 

 

 

 

 

 

 

(39,163

)

Total consolidated revenues

 

 

 

 

 

 

 

 

 

 

535,278

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues from external customers (1)

 

 

140,672

 

 

 

 

123,752

 

 

 

 

264,424

 

Intersegment cost of revenue

 

 

 

 

 

 

39,163

 

 

 

 

39,163

 

Total cost of revenues

 

 

140,672

 

 

 

 

162,915

 

 

 

 

303,587

 

Elimination of intersegment cost of revenue

 

 

 

 

 

 

 

 

 

 

(39,163

)

Total consolidated cost of revenue

 

 

 

 

 

 

 

 

 

 

264,424

 

Selling, general and administrative expenses (1)

 

 

37,867

 

 

 

 

20,942

 

 

 

 

58,809

 

Depreciation and amortization (1)

 

 

61,475

 

 

 

 

29,387

 

 

 

 

90,862

 

(Gain) loss on sale of equipment

 

 

784

 

 

 

 

13

 

 

 

 

797

 

Segment profit

$

 

87,007

 

 

$

 

33,379

 

 

 

 

120,386

 

Corporate expenses (2)

 

 

 

 

 

 

 

 

 

 

(3,644

)

Total operating income

 

 

 

 

 

 

 

 

 

 

116,742

 

Interest expense

 

 

 

 

 

 

 

 

 

 

(32,345

)

Loss on debt extinguishment

 

 

 

 

 

 

 

 

 

 

(221

)

Other expense

 

 

 

 

 

 

 

 

 

 

(2,756

)

Income before provision for income taxes

 

 

 

 

 

 

 

 

$

 

81,420

 

____________________________

(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.

 

Year Ended December 31, 2023

 

 

 

Production Solutions

 

 

 

Natural Gas Technologies

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

$

 

168,801

 

 

$

 

74,522

 

 

$

 

243,323

 

Intersegment revenues

 

 

 

 

 

 

36,758

 

 

 

 

36,758

 

Total revenues

 

 

168,801

 

 

 

 

111,280

 

 

 

 

280,081

 

Elimination of intersegment revenue

 

 

 

 

 

 

 

 

 

 

(36,758

)

Total consolidated revenues

 

 

 

 

 

 

 

 

 

 

243,323

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues from external customers (1)

 

 

42,179

 

 

 

 

62,599

 

 

 

 

104,778

 

Intersegment cost of revenue

 

 

 

 

 

 

36,758

 

 

 

 

36,758

 

Total cost of revenues

 

 

42,179

 

 

 

 

99,357

 

 

 

 

141,536

 

Elimination of intersegment cost of revenue

 

 

 

 

 

 

 

 

 

 

(36,758

)

Total consolidated cost of revenue

 

 

 

 

 

 

 

 

 

 

104,778

 

Selling, general and administrative expenses (1)

 

 

11,792

 

 

 

 

3,427

 

 

 

 

15,219

 

Depreciation and amortization (1)

 

 

42,773

 

 

 

 

1,049

 

 

 

 

43,822

 

(Gain) loss on sale of equipment

 

 

1,169

 

 

 

 

1

 

 

 

 

1,170

 

Segment profit

$

 

70,888

 

 

$

 

7,446

 

 

 

 

78,334

 

Corporate expenses (2)

 

 

 

 

 

 

 

 

 

 

 

Total operating income

 

 

 

 

 

 

 

 

 

 

78,334

 

Interest expense

 

 

 

 

 

 

 

 

 

 

(18,956

)

Other expense

 

 

 

 

 

 

 

 

 

 

(910

)

Income before provision for income taxes

 

 

 

 

 

 

 

 

$

 

58,468

 

____________________________

(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 table sets forth certain selected financial information for our operating segments for the periods presented (in thousands):

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

Segment capital expenditures:

 

 

 

 

 

 

 

 

Production Solutions

 

$

 

140,345

 

 

$

 

51,207

 

Natural Gas Technologies

 

 

 

59,326

 

 

 

 

36,793

 

Total segment capital expenditures

 

 

 

199,671

 

 

 

 

88,000

 

Corporate and other

 

 

 

 

 

 

 

2,494

 

Total capital expenditures

 

$

 

199,671

 

 

$

 

90,494

 

 

 

 

As of December 31,

 

 

 

2025

 

 

2024

 

Segment assets:

 

 

 

 

 

 

 

 

Production Solutions

 

$

 

939,922

 

 

$

 

886,372

 

Natural Gas Technologies

 

 

 

799,357

 

 

 

 

730,459

 

Total segment assets

 

 

 

1,739,279

 

 

 

 

1,616,831

 

Eliminations

 

 

 

(113,297

)

 

 

 

(41,639

)

Corporate and other

 

 

 

20,369

 

 

 

 

13,757

 

Total assets

 

$

 

1,646,351

 

 

$

 

1,588,949