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Segments and Related Information
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segments and Related Information Segments and Related Information
The Company operates through three operating segments: Offshore/Manufactured Products, Well Site Services and Downhole Technologies. Financial information by operating segment for the three and six months ended June 30, 2023 and 2022 is summarized in the following tables (in thousands).
RevenuesDepreciation and amortizationOperating income (loss)Capital expendituresTotal assets
Three Months Ended June 30, 2023
Offshore/Manufactured Products$94,086 $4,647 $11,253 $4,662 $538,490 
Well Site Services64,536 6,564 4,732 5,672 204,437 
Downhole Technologies24,907 4,175 (2,536)171 249,540 
Corporate— 151 (10,180)265 52,553 
Total$183,529 $15,537 $3,269 $10,770 $1,045,020 
RevenuesDepreciation and amortizationOperating income (loss)Capital expendituresTotal assets
Three Months Ended June 30, 2022
Offshore/Manufactured Products$96,467 $5,249 $9,441 $571 $552,091 
Well Site Services54,819 7,395 601 2,918 195,444 
Downhole Technologies30,548 4,423 (1,485)67 257,174 
Corporate— 172 (9,647)39 47,594 
Total$181,834 $17,239 $(1,090)$3,595 $1,052,303 
RevenuesDepreciation and amortizationOperating income (loss)Capital expendituresTotal assets
Six Months Ended June 30, 2023
Offshore/Manufactured Products$192,285 $9,315 $22,343 $5,197 $538,490 
Well Site Services131,594 12,710 11,698 11,444 204,437 
Downhole Technologies55,849 8,450 (4,055)420 249,540 
Corporate— 318 (20,842)277 52,553 
Total$379,728 $30,793 $9,144 $17,338 $1,045,020 
RevenuesDepreciation and amortizationOperating income (loss)Capital expendituresTotal assets
Six Months Ended June 30, 2022
Offshore/Manufactured Products$180,579 $10,579 $19,637 $1,473 $552,091 
Well Site Services102,991 15,327 (2,794)4,466 195,444 
Downhole Technologies62,308 8,807 (2,990)384 257,174 
Corporate— 343 (19,279)130 47,594 
Total$345,878 $35,056 $(5,426)$6,453 $1,052,303 
The following tables provide supplemental disaggregated revenue from contracts with customers by operating segment for the three and six months ended June 30, 2023 and 2022 (in thousands):
Offshore/Manufactured ProductsWell Site ServicesDownhole TechnologiesTotal
20232022202320222023202220232022
Three Months Ended June 30
Project-driven:
Products$32,210 $41,098 $— $— $— $— $32,210 $41,098 
Services24,846 23,995 — — — — 24,846 23,995 
Total project-driven57,056 65,093 — — — — 57,056 65,093 
Military and other products7,965 7,763 — — — — 7,965 7,763 
Short-cycle:
Products29,065 23,611 — — 23,390 26,561 52,455 50,172 
Services— — 64,536 54,819 1,517 3,987 66,053 58,806 
Total short-cycle29,065 23,611 64,536 54,819 24,907 30,548 118,508 108,978 
$94,086 $96,467 $64,536 $54,819 $24,907 $30,548 $183,529 $181,834 
Offshore/Manufactured ProductsWell Site ServicesDownhole TechnologiesTotal
20232022202320222023202220232022
Six Months Ended June 30
Project-driven:
Products$71,342 $74,942 $— $— $— $— $71,342 $74,942 
Services49,476 48,293 — — — — 49,476 48,293 
Total project-driven120,818 123,235 — — — — 120,818 123,235 
Military and other products14,962 13,109 — — — — 14,962 13,109 
Short-cycle:
Products56,505 44,235 — — 49,661 52,508 106,166 96,743 
Services— — 131,594 102,991 6,188 9,800 137,782 112,791 
Total short-cycle56,505 44,235 131,594 102,991 55,849 62,308 243,948 209,534 
$192,285 $180,579 $131,594 $102,991 $55,849 $62,308 $379,728 $345,878 
Revenues from products and services transferred to customers over time accounted for approximately 66% and 64% of consolidated revenues for the six months ended June 30, 2023 and 2022, respectively. The balance of revenues for the respective periods relates to products and services transferred to customers at a point in time. As of June 30, 2023, the Company had $210.7 million of remaining backlog related to contracts with an original expected duration of greater than one year. Approximately 33% of this remaining backlog is expected to be recognized as revenue over the remaining six months of 2023, with an additional 47% recognized in 2024 and the balance thereafter.