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Segments and Related Information (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Financial information by operating segment as of and for the three and six months ended June 30, 2024 and 2023 is summarized in the following tables (in thousands).
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |
Offshore Manufactured Products(1) | $ | 101,556 |  |  | $ | 4,247 |  |  | $ | 14,357 |  |  | $ | 1,552 |  |  | $ | 502,582 |
Well Site Services(2) | 46,421 |  |  | 6,047 |  |  | (535) |  |  | 3,918 |  |  | 177,098 |
Downhole Technologies | 38,406 |  |  | 4,255 |  |  | (1,141) |  |  | 310 |  |  | 279,947 |
Corporate | — |  |  | 149 |  |  | (10,636) |  |  | 9 |  |  | 41,551 |
Total | $ | 186,383 |  |  | $ | 14,698 |  |  | $ | 2,045 |  |  | $ | 5,789 |  |  | $ | 1,001,178 |
____________________ (1)Operating income included $1.5 million of facility consolidation charges. (2)Operating income included $2.9 million in facility consolidation and other charges.
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Three Months Ended June 30, 2023 |  |  |  |  |  |  |  |  |
Offshore Manufactured Products | $ | 78,647 |  |  | $ | 4,075 |  |  | $ | 8,838 |  |  | $ | 4,587 |  |  | $ | 495,983 |
Well Site Services | 64,536 |  |  | 6,564 |  |  | 4,732 |  |  | 5,672 |  |  | 204,437 |
Downhole Technologies | 40,346 |  |  | 4,747 |  |  | (121) |  |  | 246 |  |  | 292,047 |
Corporate | — |  |  | 151 |  |  | (10,180) |  |  | 265 |  |  | 52,553 |
Total | $ | 183,529 |  |  | $ | 15,537 |  |  | $ | 3,269 |  |  | $ | 10,770 |  |  | $ | 1,045,020 |
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |
Offshore Manufactured Products(3) | $ | 188,413 |  |  | $ | 7,940 |  |  | $ | 24,960 |  |  | $ | 8,773 |  |  | $ | 502,582 |
Well Site Services(4) | 93,713 |  |  | 12,126 |  |  | (954) |  |  | 6,332 |  |  | 177,098 |
Downhole Technologies(5) | 71,519 |  |  | 8,525 |  |  | (13,220) |  |  | 756 |  |  | 279,947 |
Corporate | — |  |  | 302 |  |  | (19,918) |  |  | 20 |  |  | 41,551 |
Total | $ | 353,645 |  |  | $ | 28,893 |  |  | $ | (9,132) |  |  | $ | 15,881 |  |  | $ | 1,001,178 |
____________________ (3)Operating income included $3.0 million of facility consolidation charges. (4)Operating income included $3.9 million in facility consolidation and other charges. (5)Operating loss included a $10.0 million non-cash goodwill impairment charge.
| Revenues |  | Depreciation and amortization |  | Operating income (loss) |  | Capital expenditures |  | Total assets
Six Months Ended June 30, 2023 |  |  |  |  |  |  |  |  |
Offshore Manufactured Products | $ | 159,152 |  |  | $ | 8,150 |  |  | $ | 16,536 |  |  | $ | 4,946 |  |  | $ | 495,983 |
Well Site Services | 131,594 |  |  | 12,710 |  |  | 11,698 |  |  | 11,444 |  |  | 204,437 |
Downhole Technologies | 88,982 |  |  | 9,615 |  |  | 1,752 |  |  | 671 |  |  | 292,047 |
Corporate | — |  |  | 318 |  |  | (20,842) |  |  | 277 |  |  | 52,553 |
Total | $ | 379,728 |  |  | $ | 30,793 |  |  | $ | 9,144 |  |  | $ | 17,338 |  |  | $ | 1,045,020 |
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 six months ended June 30, 2024 and 2023 (in thousands):
| Offshore Manufactured Products |  | Well Site Services |  | Downhole Technologies |  | Total
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Three Months Ended June 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project-driven: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | $ | 59,752 |  |  | $ | 45,455 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 59,752 |  |  | $ | 45,455 |
Services | 31,024 |  |  | 24,846 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 31,024 |  |  | 24,846 |
Total project-driven | 90,776 |  |  | 70,301 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 90,776 |  |  | 70,301 |
Military and other products | 10,780 |  |  | 8,346 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10,780 |  |  | 8,346 |
Short-cycle: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | — |  |  | — |  |  | — |  |  | — |  |  | 38,047 |  |  | 38,829 |  |  | 38,047 |  |  | 38,829 |
Services | — |  |  | — |  |  | 46,421 |  |  | 64,536 |  |  | 359 |  |  | 1,517 |  |  | 46,780 |  |  | 66,053 |
Total short-cycle | — |  |  | — |  |  | 46,421 |  |  | 64,536 |  |  | 38,406 |  |  | 40,346 |  |  | 84,827 |  |  | 104,882 |
| $ | 101,556 |  |  | $ | 78,647 |  |  | $ | 46,421 |  |  | $ | 64,536 |  |  | $ | 38,406 |  |  | $ | 40,346 |  |  | $ | 186,383 |  |  | $ | 183,529 |
| Offshore Manufactured Products |  | Well Site Services |  | Downhole Technologies |  | Total
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Six Months Ended June 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project-driven: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | $ | 112,889 |  |  | $ | 94,072 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 112,889 |  |  | $ | 94,072 |
Services | 56,257 |  |  | 49,476 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 56,257 |  |  | 49,476 |
Total project-driven | 169,146 |  |  | 143,548 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 169,146 |  |  | 143,548 |
Military and other products | 19,267 |  |  | 15,604 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 19,267 |  |  | 15,604 |
Short-cycle: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | — |  |  | — |  |  | — |  |  | — |  |  | 70,752 |  |  | 82,794 |  |  | 70,752 |  |  | 82,794 |
Services | — |  |  | — |  |  | 93,713 |  |  | 131,594 |  |  | 767 |  |  | 6,188 |  |  | 94,480 |  |  | 137,782 |
Total short-cycle | — |  |  | — |  |  | 93,713 |  |  | 131,594 |  |  | 71,519 |  |  | 88,982 |  |  | 165,232 |  |  | 220,576 |
| $ | 188,413 |  |  | $ | 159,152 |  |  | $ | 93,713 |  |  | $ | 131,594 |  |  | $ | 71,519 |  |  | $ | 88,982 |  |  | $ | 353,645 |  |  | $ | 379,728 |

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