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Segment Reporting | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Reporting | 16. SEGMENT REPORTING We operate our business in two segments. These complementary operating segments provide different services and products and utilize different technologies for evaluating and improving reservoir performance and increasing oil and gas recovery from new and existing fields. • Reservoir Description: Encompasses the characterization of petroleum reservoir rock and reservoir fluids samples to increase production and improve recovery of crude oil and natural gas from our clients’ reservoirs. We provide laboratory-based analytical and field services to characterize properties of crude oil and crude oil-derived products to the oil and gas industry. Services associated with these fluids include determining the quality and measuring the quantity of the reservoir fluids and their derived products, such as gasoline, diesel and biofuels. We also provide proprietary and joint industry studies based on these types of analyses and manufacture associated laboratory equipment. In addition, we provide reservoir description capabilities that support various activities associated with energy transition projects, including services that support carbon capture, utilization and storage, geothermal projects, and the evaluation and appraisal of mining activities around lithium and other elements necessary for energy storage. • Production Enhancement: Includes services and manufactured products associated with reservoir well completions, perforations, stimulation, production and well abandonment. We provide integrated diagnostic services to evaluate and monitor the effectiveness of well completions and to develop solutions aimed at increasing the effectiveness of enhanced oil recovery projects. We use the same accounting policies to prepare our operating segment results as are used to prepare our consolidated financial statements. All interest and other non-operating income (expense) is attributable to Corporate & Other and is not allocated to specific operating segments. Summarized financial information of our operating segments is shown in the following table (in thousands):
|  | Reservoir Description |  |  | Production Enhancement |  |  | Corporate & Other (1) |  |  | Consolidated |
Three months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from unaffiliated clients |  | $ | 88,840 |  |  | $ | 45,557 |  |  | $ | — |  |  | $ | 134,397 |
Inter-segment revenue |  |  | 34 |  |  |  | 125 |  |  |  | (159 | ) |  |  | — |
Segment operating income |  |  | 16,487 |  |  |  | 3,232 |  |  |  | 84 |  |  |  | 19,803 |
Total assets |  |  | 322,001 |  |  |  | 154,995 |  |  |  | 123,470 |  |  |  | 600,466 |
Capital expenditures |  |  | 2,273 |  |  |  | 427 |  |  |  | 29 |  |  |  | 2,729 |
Depreciation and amortization |  |  | 2,537 |  |  |  | 1,014 |  |  |  | 125 |  |  |  | 3,676 |
Three months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from unaffiliated clients |  | $ | 85,145 |  |  | $ | 40,198 |  |  | $ | — |  |  | $ | 125,343 |
Inter-segment revenue |  |  | 16 |  |  |  | 25 |  |  |  | (41 | ) |  |  | — |
Segment operating income |  |  | 12,992 |  |  |  | 1,544 |  |  |  | 136 |  |  |  | 14,672 |
Total assets |  |  | 302,769 |  |  |  | 163,395 |  |  |  | 126,250 |  |  |  | 592,414 |
Capital expenditures |  |  | 2,840 |  |  |  | 237 |  |  |  | 384 |  |  |  | 3,461 |
Depreciation and amortization |  |  | 2,712 |  |  |  | 1,049 |  |  |  | 168 |  |  |  | 3,929 |
Nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from unaffiliated clients |  | $ | 259,353 |  |  | $ | 135,258 |  |  | $ | — |  |  | $ | 394,611 |
Inter-segment revenue |  |  | 71 |  |  |  | 187 |  |  |  | (258 | ) |  |  | — |
Segment operating income |  |  | 34,823 |  |  |  | 9,209 |  |  |  | 350 |  |  |  | 44,382 |
Total assets |  |  | 322,001 |  |  |  | 154,995 |  |  |  | 123,470 |  |  |  | 600,466 |
Capital expenditures |  |  | 7,481 |  |  |  | 914 |  |  |  | 252 |  |  |  | 8,647 |
Depreciation and amortization |  |  | 7,854 |  |  |  | 3,073 |  |  |  | 362 |  |  |  | 11,289 |
Nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from unaffiliated clients |  | $ | 248,717 |  |  | $ | 132,863 |  |  | $ | — |  |  | $ | 381,580 |
Inter-segment revenue |  |  | 145 |  |  |  | 144 |  |  |  | (289 | ) |  |  | — |
Segment operating income |  |  | 28,780 |  |  |  | 10,324 |  |  |  | 955 |  |  |  | 40,059 |
Total assets |  |  | 302,769 |  |  |  | 163,395 |  |  |  | 126,250 |  |  |  | 592,414 |
Capital expenditures |  |  | 5,879 |  |  |  | 1,237 |  |  |  | 727 |  |  |  | 7,843 |
Depreciation and amortization |  |  | 8,374 |  |  |  | 3,034 |  |  |  | 502 |  |  |  | 11,910 |
(1) "Corporate & Other" represents those items that are not directly related to a particular operating segment and eliminations.

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- Definition The entire disclosure for reporting segments including data and tables. 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