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BUSINESS SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2024
BUSINESS SEGMENT INFORMATION |
Schedule of operating segment revenues by major service lines | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Nine months ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023 | ​
Technical Services: | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Pressure Pumping | ​ | $ | 129,579 | ​ | $ | 110,622 | ​ | $ | 452,991 | ​ | $ | 585,243 | ​
Downhole Tools |  | ​ | 97,954 |  | ​ | 96,261 | ​ | ​ | 292,418 |  | ​ | 305,254 | ​
Coiled Tubing |  | ​ | 29,761 |  | ​ | 36,820 | ​ | ​ | 101,913 |  | ​ | 115,241 | ​
Cementing | ​ | ​ | 26,972 | ​ | ​ | 26,731 | ​ | ​ | 82,761 | ​ | ​ | 38,995 | ​
Nitrogen |  | ​ | 9,151 |  | ​ | 12,211 | ​ | ​ | 27,047 |  | ​ | 37,027 | ​
Snubbing |  | ​ | 8,949 |  | ​ | 5,669 | ​ | ​ | 19,083 |  | ​ | 20,432 | ​
All other |  | ​ | 11,126 |  | ​ | 14,755 | ​ | ​ | 35,157 |  | ​ | 42,886 | ​
Total Technical Services | ​ | ​ | 313,492 | ​ | ​ | 303,069 | ​ | ​ | 1,011,370 | ​ | ​ | 1,145,078 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Support Services: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Rental Tools | ​ | ​ | 17,475 | ​ | ​ | 20,119 | ​ | ​ | 50,871 | ​ | ​ | 56,129 | ​
All other | ​ | ​ | 6,685 | ​ | ​ | 7,229 | ​ |  | 17,397 | ​ |  | 21,736 | ​
Total Support Services | ​ | ​ | 24,160 | ​ | ​ | 27,348 | ​ | ​ | 68,268 | ​ | ​ | 77,865 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total revenues | ​ | $ | 337,652 | ​ | $ | 330,417 | ​ | $ | 1,079,638 | ​ | $ | 1,222,943 | ​
Schedule of segment reporting information by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Nine months ended
​ | ​ | September 30, | ​ | September 30,
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Technical Services | ​ | $ | 313,492 | ​ | $ | 303,069 | ​ | $ | 1,011,370 | ​ | $ | 1,145,078
Support Services | ​ |  | 24,160 | ​ |  | 27,348 | ​ |  | 68,268 | ​ |  | 77,865
Total revenues | ​ | $ | 337,652 | ​ | $ | 330,417 | ​ | $ | 1,079,638 | ​ | $ | 1,222,943
Operating income: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Technical Services | ​ | $ | 16,344 | ​ | $ | 18,912 | ​ | $ | 78,498 | ​ | $ | 199,462
Support Services | ​ |  | 5,286 | ​ |  | 6,861 | ​ |  | 13,264 | ​ |  | 21,425
Corporate expenses | ​ |  | (4,216) | ​ |  | (4,840) | ​ |  | (11,083) | ​ |  | (14,593)
Pension settlement charges | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (18,286)
Gain on disposition of assets, net | ​ |  | 1,790 | ​ |  | 1,778 | ​ |  | 6,342 | ​ |  | 7,729
Total operating income | ​ | ​ | 19,204 | ​ | ​ | 22,711 | ​ | ​ | 87,021 | ​ | ​ | 195,737
Interest expense | ​ |  | (261) | ​ |  | (101) | ​ |  | (594) | ​ |  | (246)
Interest income | ​ |  | 3,523 | ​ |  | 1,450 | ​ |  | 9,831 | ​ |  | 6,003
Other income, net | ​ |  | 1,005 | ​ |  | 804 | ​ |  | 2,504 | ​ |  | 2,196
Income before income taxes | ​ | $ | 23,471 | ​ | $ | 24,864 | ​ | $ | 98,762 | ​ | $ | 203,690
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of and for the nine months ended | ​ | Technical | ​ | Support | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2024 |  | Services |  | Services |  | Corporate |  | Total
(in thousands) |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Depreciation and amortization | ​ | $ | 88,272 | ​ | $ | 9,041 | ​ | $ | 58 | ​ | $ | 97,371
Capital expenditures | ​ |  | 159,743 | ​ |  | 17,751 | ​ |  | 1,966 | ​ |  | 179,460
Identifiable assets | ​ | ​ | 896,021 | ​ | ​ | 88,757 | ​ | ​ | 345,819 | ​ | ​ | 1,330,597
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of and for the nine months ended | ​ | Technical | ​ | Support | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2023 |  | Services |  | Services |  | Corporate |  | Total
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | $ | 71,175 | ​ | $ | 7,503 | ​ | $ | 38 | ​ | $ | 78,716
Capital expenditures | ​ |  | 136,237 | ​ |  | 9,159 | ​ |  | 3,420 | ​ |  | 148,816
Identifiable assets | ​ | ​ | 873,819 | ​ | ​ | 84,156 | ​ | ​ | 289,398 | ​ | ​ | 1,247,373
​
Schedule of revenue by geographical location | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months ended |  | Nine months ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023 | ​
United States revenues | ​ | $ | 326,963 | ​ | $ | 323,159 | ​ | $ | 1,048,379 | ​ | $ | 1,201,977 | ​
International revenues |  | ​ | 10,689 |  | ​ | 7,258 | ​ | ​ | 31,259 |  | ​ | 20,966 | ​
Total revenues | ​ | $ | 337,652 | ​ | $ | 330,417 | ​ | $ | 1,079,638 | ​ | $ | 1,222,943 | ​

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