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BUSINESS SEGMENT AND ENTITY WIDE DISCLOSURES (Tables)

3 Months Ended

Mar. 31, 2025

BUSINESS SEGMENT AND ENTITY WIDE DISCLOSURES

Schedule of segment reporting information by segment

​	​	​	​	​	​	​	​	​	​	​
​		​	​	​	​	​	​	​	​	​
​	​	Technical		​	Support		​	​		​
​		Services			Services			Total		​
(in thousands except headcount)	​	​	​	​	​	​	​	​	​	​
2025	​	​		​	​		​	​		​
Revenues	​	$	311,844	​	$	21,033	​	$	332,877	​
​	​	​	​	​	​	​	​	​	​	​
Employment costs (1)	​	​	77,336	​	​	5,253	​	​	82,589	​
Materials and supplies	​	​	74,469	​	​	840	​	​	75,309	​
Maintenance & repairs	​	​	45,461	​	​	2,622	​	​	48,083	​
Fleet and transportation	​	​	10,151	​	​	805	​	​	10,956	​
Other cost of revenues (2)	​	​	25,832	​	​	1,126	​	​	26,958	​
Cost of revenues (exclusive of depreciation and amortization)		$	233,249	​	$	10,646	​	$	243,895	​
​	​	​	​	​	​	​	​	​	​	​
Employment costs (1)	​	​	15,052	​	​	2,489	​	​	17,541	​
Enterprise shared services (3)	​	​	9,859	​	​	469	​	​	10,328	​
Other selling, general and administrative expenses (4)	​	​	7,418	​	​	1,427	​	​	8,845	​
Selling, general and administrative expenses	​	$	32,329	​	$	4,385	​	$	36,714	​
​	​	​	​	​	​	​	​	​	​	​
Segment depreciation and amortization	​	​	32,263	​	​	3,341	​	​	35,604	​
Segment operating income	​	$	14,003	​	$	2,661	​	$	16,664	​
Unallocated corporate expenses (5)	​	​	​	​	​	​	​	​	5,804	​
(Gain) on sale of assets	​	​	​	​	​	​	​	​	(1,526)	​
Operating income	​	​	​	​	​	​	​	$	12,386	​
​	​	​	​	​	​	​	​	​	​	​
​		​	​	​	​	​	​	​	​	​
​	​	Technical		​	Support		​	​		​
​		Services			Services			Total		​
(in thousands except headcount)	​	​	​	​	​	​	​	​	​	​
2024	​	​	​	​	​	​	​	​	​	​
Revenues	​	$	356,394	​	$	21,439	​	$	377,833	​
​	​	​	​	​	​	​	​	​	​	​
Employment costs (1)	​	​	77,152	​	​	5,187	​	​	82,339	​
Materials and supplies	​	​	94,490	​	​	785	​	​	95,275	​
Maintenance & repairs	​	​	50,306	​	​	2,796	​	​	53,102	​
Fleet and transportation	​	​	17,835	​	​	792	​	​	18,627	​
Other cost of revenues (2)	​	​	26,009	​	​	1,257	​	​	27,266	​
Cost of revenues (exclusive of depreciation and amortization)		$	265,792	​	$	10,817	​	$	276,609	​
​	​	​	​	​	​	​	​	​	​	​
Employment costs (1)		​	15,577		​	2,445	​	​	18,022	​
Enterprise shared services (3)	​	​	8,572	​	​	413	​	​	8,985	​
Other selling, general and administrative expenses (4)	​	​	7,327	​	​	1,350	​	​	8,677	​
Selling, general and administrative expenses	​	$	31,476	​	$	4,208	​	$	35,684	​
​	​	​	​	​	​	​	​	​	​	​
Segment depreciation and amortization	​	​	27,170	​	​	2,815	​	​	29,985	​
Segment operating income	​	$	31,956	​	$	3,599	​	$	35,555	​
Unallocated corporate expenses (5)	​	​	​	​	​	​	​	​	4,420	​
(Gain) on sale of assets	​	​	​	​	​	​	​	​	(1,214)	​
Operating income	​	​	​	​	​	​	​	$	32,349	​

(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 three months ended March 31, 2025 and 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Technical

​

Support

​

Segment

​

Unallocated

​

Consolidated

​

Services

Services

Total

Total

Total

(in thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Selling, general and administrative expenses

​

$

32,329

​

$

4,385

​

$

36,714

​

$

5,785

​

$

42,499

Depreciation and amortization

​

​

32,263

​

​

3,341

​

​

35,604

​

​

19

​

​

35,623

Capital expenditures (1)

​

​

22,543

​

​

8,401

​

​

30,944

​

​

1,326

​

​

32,270

Total assets (2)

​

$

862,481

​

$

86,443

​

$

948,924

​

$

396,995

​

$

1,345,919

2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Selling, general and administrative expenses

​

$

31,476

​

$

4,208

​

$

35,684

​

$

4,401

​

$

40,085

Depreciation and amortization

​

​

27,170

​

​

2,815

​

​

29,985

​

​

19

​

​

30,004

Capital expenditures (1)

​

​

43,869

​

​

7,813

​

​

51,682

​

​

1,096

​

​

52,778

Total assets (2)

​

$

897,462

​

$

79,763

​

$

977,225

​

$

320,008

​

$

1,297,233

​

(1) Unallocated total primarily related to corporate capital expenditures.

(2) Unallocated total primarily consists of cash and cash equivalents of $326.7 million and $212.2 million managed at corporate for the months ended March 31, 2025 and 2024, respectively.

Schedule of revenue by geographical location

​

​	​	​	​	​	​	​
​		Three months ended
​	​	March 31,
​		2025			2024
(in thousands)	​	​	​	​	​	​
United States revenues	​	$	324,879	​	$	367,938
International revenues	​	​	7,998		​	9,895
Total revenues	​	$	332,877	​	$	377,833

Schedule of operating segment revenues by major service lines

​

​	​	​	​	​	​	​
​	​	Three months ended
​	​	March 31,
​		2025			2024
(in thousands)	​	​	​	​	​	​
Technical Services:	​	​		​	​
Pressure Pumping	​	$	133,617	​	$	176,256
Downhole Tools	​	​	93,865		​	93,794
Coiled Tubing	​	​	31,930		​	33,168
Cementing	​	​	27,662	​	​	27,751
Nitrogen	​	​	7,912		​	9,550
Snubbing	​	​	7,336		​	4,856
All other	​	​	9,522		​	11,019
Total Technical Services	​	​	311,844	​	​	356,394
​	​	​	​	​	​	​
Support Services:	​			​
Rental Tools	​	​	15,402	​	​	15,974
All other	​		5,631	​		5,465
Total Support Services	​	​	21,033	​	​	21,439
​	​	​	​	​	​	​
Total revenues	​	$	332,877	​	$	377,833

X

- Definition

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