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Segments and Related Information (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Financial information by operating segment for the three and nine months ended September 30, 2023 and 2022 is summarized in the following tables (in thousands).
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products(1) | $ | 111,043 |  |  | $ | 4,921 |  |  | $ | 17,804 |  |  | $ | 2,739 |  |  | $ | 536,263 |
Well Site Services | 59,831 |  |  | 6,313 |  |  | 3,285 |  |  | 2,602 |  |  | 201,384 |
Downhole Technologies | 23,415 |  |  | 4,030 |  |  | (4,118) |  |  | 541 |  |  | 246,329 |
Corporate | — |  |  | 152 |  |  | (10,781) |  |  | 150 |  |  | 64,044 |
Total(1) | $ | 194,289 |  |  | $ | 15,416 |  |  | $ | 6,190 |  |  | $ | 6,032 |  |  | $ | 1,048,020 |
____________________ (1)Operating income included $1.6 million of facility consolidation charges.
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Three Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products(2) | $ | 96,037 |  |  | $ | 5,072 |  |  | $ | 13,373 |  |  | $ | 1,620 |  |  | $ | 540,940 |
Well Site Services | 60,509 |  |  | 6,732 |  |  | 2,359 |  |  | 4,894 |  |  | 205,018 |
Downhole Technologies | 32,848 |  |  | 4,442 |  |  | (342) |  |  | 273 |  |  | 257,676 |
Corporate | — |  |  | 167 |  |  | (10,332) |  |  | 23 |  |  | 46,736 |
Total(2) | $ | 189,394 |  |  | $ | 16,413 |  |  | $ | 5,058 |  |  | $ | 6,810 |  |  | $ | 1,050,370 |
____________________ (2)Operating income included a $6.1 million gain on settlement of outstanding litigation against certain service providers.
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products(3) | $ | 303,328 |  |  | $ | 14,236 |  |  | $ | 40,147 |  |  | $ | 7,936 |  |  | $ | 536,263 |
Well Site Services | 191,425 |  |  | 19,023 |  |  | 14,983 |  |  | 14,046 |  |  | 201,384 |
Downhole Technologies | 79,264 |  |  | 12,480 |  |  | (8,173) |  |  | 961 |  |  | 246,329 |
Corporate | — |  |  | 470 |  |  | (31,623) |  |  | 427 |  |  | 64,044 |
Total(3) | $ | 574,017 |  |  | $ | 46,209 |  |  | $ | 15,334 |  |  | $ | 23,370 |  |  | $ | 1,048,020 |
____________________ (3)Operating income included $1.6 million of facility consolidation charges.
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Nine Months Ended September 30, 2022 |  |  |  |  |  |  |  |  |
Offshore/Manufactured Products(4) | $ | 276,616 |  |  | $ | 15,651 |  |  | $ | 33,010 |  |  | $ | 3,093 |  |  | $ | 540,940 |
Well Site Services | 163,500 |  |  | 22,059 |  |  | (435) |  |  | 9,360 |  |  | 205,018 |
Downhole Technologies | 95,156 |  |  | 13,249 |  |  | (3,332) |  |  | 657 |  |  | 257,676 |
Corporate | — |  |  | 510 |  |  | (29,611) |  |  | 153 |  |  | 46,736 |
Total(4) | $ | 535,272 |  |  | $ | 51,469 |  |  | $ | (368) |  |  | $ | 13,263 |  |  | $ | 1,050,370 |
_______________ (4)Operating income (loss) included a $6.1 million gain on settlement of outstanding litigation against certain service providers.
Schedule of Supplemental Revenue Information by Segments | The following tables provide supplemental disaggregated revenue from contracts with customers by operating segment for the three and nine months ended September 30, 2023 and 2022 (in thousands):
| Offshore/Manufactured Products |  | Well Site Services |  | Downhole Technologies |  | Total
| 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Three Months Ended September 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project-driven: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | $ | 45,527 |  |  | $ | 38,911 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 45,527 |  |  | $ | 38,911 |
Services | 30,391 |  |  | 23,421 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 30,391 |  |  | 23,421 |
Total project-driven | 75,918 |  |  | 62,332 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 75,918 |  |  | 62,332 |
Military and other products | 7,195 |  |  | 9,995 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,195 |  |  | 9,995 |
Short-cycle: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | 27,930 |  |  | 23,710 |  |  | — |  |  | — |  |  | 21,984 |  |  | 27,127 |  |  | 49,914 |  |  | 50,837 |
Services | — |  |  | — |  |  | 59,831 |  |  | 60,509 |  |  | 1,431 |  |  | 5,721 |  |  | 61,262 |  |  | 66,230 |
Total short-cycle | 27,930 |  |  | 23,710 |  |  | 59,831 |  |  | 60,509 |  |  | 23,415 |  |  | 32,848 |  |  | 111,176 |  |  | 117,067 |
| $ | 111,043 |  |  | $ | 96,037 |  |  | $ | 59,831 |  |  | $ | 60,509 |  |  | $ | 23,415 |  |  | $ | 32,848 |  |  | $ | 194,289 |  |  | $ | 189,394 |
| Offshore/Manufactured Products |  | Well Site Services |  | Downhole Technologies |  | Total
| 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Nine Months Ended September 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project-driven: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | $ | 116,869 |  |  | $ | 113,853 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 116,869 |  |  | $ | 113,853 |
Services | 79,867 |  |  | 71,714 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 79,867 |  |  | 71,714 |
Total project-driven | 196,736 |  |  | 185,567 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 196,736 |  |  | 185,567 |
Military and other products | 22,157 |  |  | 23,104 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 22,157 |  |  | 23,104 |
Short-cycle: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | 84,435 |  |  | 67,945 |  |  | — |  |  | — |  |  | 71,645 |  |  | 79,635 |  |  | 156,080 |  |  | 147,580 |
Services | — |  |  | — |  |  | 191,425 |  |  | 163,500 |  |  | 7,619 |  |  | 15,521 |  |  | 199,044 |  |  | 179,021 |
Total short-cycle | 84,435 |  |  | 67,945 |  |  | 191,425 |  |  | 163,500 |  |  | 79,264 |  |  | 95,156 |  |  | 355,124 |  |  | 326,601 |
| $ | 303,328 |  |  | $ | 276,616 |  |  | $ | 191,425 |  |  | $ | 163,500 |  |  | $ | 79,264 |  |  | $ | 95,156 |  |  | $ | 574,017 |  |  | $ | 535,272 |

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