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Business Segment and Entity Wide Disclosures (Tables)

12 Months Ended

Dec. 31, 2024

Business Segment and Entity Wide Disclosures

Schedule of segment reporting information by segment

​

​	​	​	​	​	​	​	​	​	​
​		​	​			​			​
​	​	Technical		​	Support		​	​
​		Services			Services			Total
(in thousands except headcount)	​	​	​	​	​	​	​	​	​
2024	​	​		​	​		​	​
Revenues	​	$	1,326,005	​	$	88,994	​	$	1,414,999
​	​	​	​	​	​	​	​	​	​
Employment costs (1)	​	​	303,327	​	​	20,458	​	​	323,785
Materials and supplies	​	​	332,781	​	​	3,519	​	​	336,300
Maintenance & repairs	​	​	190,996	​	​	11,540	​	​	202,536
Fleet and transportation	​	​	61,148	​	​	3,097	​	​	64,245
Other cost of revenues (2)	​	​	104,340	​	​	5,442	​	​	109,782
Cost of revenues (exclusive of depreciation and amortization)		$	992,592	​	$	44,056	​	$	1,036,648
​	​	​	​	​	​	​	​	​	​
Employment costs (1)	​	​	57,649	​	​	9,170	​	​	66,819
Enterprise shared services (3)	​	​	35,357	​	​	1,486	​	​	36,843
Other selling, general and administrative expenses (4)	​	​	31,080	​	​	6,174	​	​	37,254
Selling, general and administrative expenses	​	$	124,086	​	$	16,830	​	$	140,916
​	​	​	​	​	​	​	​	​	​
Segment depreciation and amortization	​	​	120,226	​	​	12,272	​	​	132,498
Segment operating income	​	$	89,101	​	$	15,836	​	$	104,937
Unallocated corporate expenses (5)	​	​	​	​	​	​	​	​	15,598
(Gain) on sale of assets	​	​	​	​	​	​	​	​	(8,199)
Operating income	​	​	​	​	​	​	​	$	97,538

​

​	​	​	​	​	​	​	​	​	​
​		​	​			​			​
​	​	Technical		​	Support		​	​
​		Services			Services			Total
(in thousands except headcount)	​	​	​	​	​	​	​	​	​
2023	​	​	​	​	​	​	​	​	​
Revenues	​	$	1,516,137	​	$	101,337	​	$	1,617,474
​	​	​	​	​	​	​	​	​	​
Employment costs (1)	​	​	307,396	​	​	22,186	​	​	329,582
Materials and supplies	​	​	337,006	​	​	3,416	​	​	340,422
Maintenance & repairs	​	​	186,703	​	​	12,031	​	​	198,734
Fleet and transportation	​	​	102,723	​	​	4,114	​	​	106,837
Other cost of revenues (2)	​	​	108,925	​	​	5,019	​	​	113,944
Cost of revenues (exclusive of depreciation and amortization)		$	1,042,753	​	$	46,766	​	$	1,089,519
​	​	​	​	​	​	​	​	​	​
Employment costs (1)		​	61,158		​	9,922	​	​	71,080
Enterprise shared services (3)	​	​	29,179	​	​	2,225	​	​	31,404
Other selling, general and administrative expenses (4)	​	​	39,370	​	​	5,670	​	​	45,040
Selling, general and administrative expenses	​	$	129,707	​	$	17,817	​	$	147,524
​	​	​	​	​	​	​	​	​	​
Segment depreciation and amortization	​	​	97,773	​	​	10,293	​	​	108,066
Segment operating income	​	$	245,904	​	$	26,461	​	$	272,365
Unallocated corporate expenses (5)	​	​	​	​	​	​	​	​	18,473
Pension settlement charges	​	​	​	​	​	​	​	​	18,286
(Gain) on sale of assets	​	​	​	​	​	​	​	​	(9,344)
Operating income	​	​	​	​	​	​	​	$	244,950

​

​	​	​	​	​	​	​	​	​	​
​		​	​			​			​
​	​	Technical		​	Support		​	​
​		Services			Services			Total
(in thousands except headcount)	​	​	​	​	​	​	​	​	​
2022	​	​	​	​	​	​	​	​	​
Revenues	​	$	1,516,363	​	$	85,399	​	$	1,601,762
​	​		​	​	​	​	​	​	​
Employment costs (1)	​		284,439	​	​	18,321	​	​	302,760
Materials and supplies	​	​	356,538	​	​	4,045	​	​	360,583
Maintenance & repairs	​		194,178		​	9,638		​	203,816
Fleet and transportation	​	​	127,206	​	​	3,898	​	​	131,104
Other cost of revenues (2)	​	​	84,221	​	​	5,631	​	​	89,852
Cost of revenues (exclusive of depreciation and amortization)	​	$	1,046,582	​	$	41,533	​	$	1,088,115
​	​	​	​	​	​	​	​	​	​
Employment costs (1)	​	​	58,723	​	​	9,026	​	​	67,749
Enterprise shared services (3)	​	​	26,767	​	​	2,167	​	​	28,934
Other selling, general and administrative expenses (4)	​	​	29,653	​	​	4,738	​	​	34,391
Selling, general and administrative expenses	​	$	115,143	​	$	15,931		$	131,074
​	​	​	​	​	​	​	​	​	​
Segment depreciation and amortization	​	​	73,016	​	​	9,840	​	​	82,856
Segment operating income	​	$	281,622	​	$	18,095	​	$	299,717
Unallocated corporate expenses (5)	​	​	​	​	​	​	​	​	17,660
Pension settlement charges	​	​	​	​	​	​	​	​	2,921
(Gain) on sale of assets	​	​	​	​	​	​	​	​	(8,804)
Operating income	​	​	​	​	​	​	​	$	287,940

(1) Employment costs include employee payroll, share-based compensation, bonuses and amounts related to benefits for each of the income statement items. Additional employment costs are included within the shared services amount.

(2) Includes expenses related to rent, travel, insurance and other costs.

(3) Includes costs incurred at the enterprise level that are allocated to each reportable segment based on payroll cost, headcount and revenues.

(4) Includes professional fees, utilities, travel & entertainment and other costs.

(5) Unallocated corporate expenses are included in selling general and administrative expenses at the consolidated level.

​

The table below shows the reconciliation of segment totals to the consolidated level for the years ended December 31, 2024, 2023, and 2022:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Technical

​

Support

​

Segment

​

Unallocated

​

Consolidated

​

Services

Services

Total

Total

Total

(in thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2024

​

​

​

​

​

​

​

​

​

​

​

​

Selling, general and administrative expenses

​

$

124,086

​

$

16,830

​

$

140,916

​

$

15,521

​

$

156,437

Depreciation and amortization

​

​

120,226

​

​

12,272

​

​

132,498

​

​

77

​

​

132,575

Capital expenditures (1)

​

​

195,263

​

​

21,119

​

​

216,382

​

​

3,548

​

​

219,930

Total assets (2)

​

$

895,067

​

$

85,803

​

$

980,870

​

$

405,619

​

$

1,386,489

2023

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Selling, general and administrative expenses

​

$

129,707

​

$

17,817

​

$

147,524

​

$

18,416

​

$

165,940

Depreciation and amortization

​

​

97,773

​

​

10,293

​

​

108,066

​

​

57

​

​

108,123

Capital expenditures (1)

​

​

160,799

​

​

15,634

​

​

176,433

​

​

4,572

​

​

181,005

Total assets (2)

​

$

867,550

​

$

81,754

​

$

949,304

​

$

337,541

​

$

1,286,845

2022

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Selling, general and administrative expenses

​

$

115,143

​

$

15,931

​

$

131,074

​

$

17,499

​

$

148,573

Depreciation and amortization

​

​

73,016

​

​

9,840

​

​

82,856

​

​

161

​

​

83,017

Capital expenditures (1)

​

​

126,327

​

​

12,320

​

​

138,647

​

​

905

​

​

139,552

Total assets (2)

​

$

823,434

​

$

80,104

​

$

903,538

​

$

225,475

​

$

1,129,013

​

(1) Primarily related to unallocated corporate capital expenditures.

(2) Unallocated total primarily consists of cash and cash equivalents of $326.0 million, $223.3 million and $126.4 million managed at corporate for the years ended December 31, 2024, 2023, and 2022, respectively.

Schedule of revenue by geographical location

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​	​	2024			2023			2022
(in thousands)	​	​	​	​	​	​	​	​	​
United States revenues	​	$	1,375,398	​	$	1,588,774	​	$	1,569,160
International revenues	​	​	39,601		​	28,700		​	32,602
Total revenues	​	$	1,414,999	​	$	1,617,474	​	$	1,601,762

Schedule of operating segment revenues by major service lines

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​	​	2024		​	2023		​	2022
(in thousands)	​	​	​	​	​	​	​	​	​
Technical Services:	​	​		​	​		​	​
Pressure Pumping	​	$	587,051	​	$	771,542	​	$	846,939
Downhole Tools	​	​	386,085		​	397,341		​	374,081
Coiled Tubing	​	​	135,175		​	152,484		​	140,889
Cementing	​	​	110,730	​	​	64,481	​	​	21,178
Nitrogen	​	​	34,963		​	47,306		​	39,596
Snubbing	​	​	27,057		​	26,345		​	28,028
All other	​	​	44,944		​	56,638		​	65,652
Total Technical Services	​	$	1,326,005	​	$	1,516,137	​	$	1,516,363
​	​	​	​	​	​	​	​	​	​
Support Services:	​			​			​
Rental Tools	​	$	65,207	​	$	73,301	​	$	62,780
All other	​		23,787	​		28,036	​		22,619
Total Support Services	​	$	88,994	​	$	101,337	​	$	85,399
​	​	​	​	​	​	​	​	​	​
Total revenues	​	$	1,414,999	​	$	1,617,474	​	$	1,601,762

​

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- Definition

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