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Segments and Related Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Financial information by operating segment for each of the three years ended December 31, 2024, 2023 and 2022, is summarized in the following tables (in thousands):
| Year Ended December 31, 2024
| Offshore Manufactured Products(1) |  | Completion and Production Services(2) |  | Downhole Technologies(3) |  | Corporate(4) |  | Total
Revenues | $ | 397,900 |  |  | $ | 163,902 |  |  | $ | 130,786 |  |  | $ | — |  |  | $ | 692,588 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Cost of revenues (exclusive of depreciation and amortization expense presented below) | 279,754 |  |  | 141,393 |  |  | 115,054 |  |  | — |  |  | 536,201 |
Selling, general and administrative expense | 37,029 |  |  | 10,813 |  |  | 9,427 |  |  | 37,740 |  |  | 95,009 |
Depreciation and amortization expense | 15,205 |  |  | 22,143 |  |  | 16,808 |  |  | 552 |  |  | 54,708 |
Impairment of goodwill | — |  |  | — |  |  | 10,000 |  |  | — |  |  | 10,000 |
Impairments of intangible assets | — |  |  | 10,787 |  |  | — |  |  | — |  |  | 10,787 |
Impairments of operating lease assets | — |  |  | 3,280 |  |  | 487 |  |  | — |  |  | 3,767 |
Other operating (income) loss, net | 633 |  |  | (1,289) |  |  | (86) |  |  | (15,453) |  |  | (16,195) |
| 332,621 |  |  | 187,127 |  |  | 151,690 |  |  | 22,839 |  |  | 694,277 |
Operating income (loss) | $ | 65,279 |  |  | $ | (23,225) |  |  | $ | (20,904) |  |  | $ | (22,839) |  |  | $ | (1,689) |
Capital expenditures | $ | 18,428 |  |  | $ | 17,920 |  |  | $ | 1,140 |  |  | $ | 20 |  |  | $ | 37,508 |
Total assets (as of December 31) | $ | 510,374 |  |  | $ | 152,485 |  |  | $ | 265,240 |  |  | $ | 77,009 |  |  | $ | 1,005,108 |
________________ (1)Operating income included $3.4 million of facility consolidation and other charges. (2)Operating loss included $24.3 million of asset impairment, facility consolidation and exit, patent defense and other charges (3)Operating loss included $10.6 million of asset impairment and other charges (4)Operating loss included a net gain of $15.3 million associated with the sale of a previously idled facility.
| Year Ended December 31, 2023
| Offshore Manufactured Products(1) |  | Completion and Production Services(2) |  | Downhole Technologies(3) |  | Corporate |  | Total
Revenues | $ | 381,711 |  |  | $ | 242,633 |  |  | $ | 157,939 |  |  | $ | — |  |  | $ | 782,283 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Cost of revenues (exclusive of depreciation and amortization expense presented below) | 274,591 |  |  | 196,158 |  |  | 136,139 |  |  | — |  |  | 606,888 |
Selling, general and administrative expense | 34,430 |  |  | 9,417 |  |  | 9,457 |  |  | 40,881 |  |  | 94,185 |
Depreciation and amortization expense | 16,357 |  |  | 25,318 |  |  | 18,467 |  |  | 636 |  |  | 60,778 |
Other operating (income) loss, net | 44 |  |  | (2,141) |  |  | (250) |  |  | (385) |  |  | (2,732) |
| 325,422 |  |  | 228,752 |  |  | 163,813 |  |  | 41,132 |  |  | 759,119 |
Operating income (loss) | $ | 56,289 |  |  | $ | 13,881 |  |  | $ | (5,874) |  |  | $ | (41,132) |  |  | $ | 23,164 |
Capital expenditures | $ | 9,235 |  |  | $ | 19,125 |  |  | $ | 1,825 |  |  | $ | 468 |  |  | $ | 30,653 |
Total assets (as of December 31) | $ | 521,923 |  |  | $ | 191,630 |  |  | $ | 278,151 |  |  | $ | 54,782 |  |  | $ | 1,046,486 |
________________ (1)Operating income included $2.5 million of facility consolidation and other charges. (2)Operating income included $0.6 million in costs associated with the defense of certain patents. (3)Operating loss included $3.2 million in provisions for excess and obsolete inventories.
| Year Ended December 31, 2022
| Offshore Manufactured Products(1) |  | Completion and Production Services |  | Downhole Technologies |  | Corporate |  | Total
Revenues | $ | 322,370 |  |  | $ | 231,189 |  |  | $ | 184,147 |  |  | $ | — |  |  | $ | 737,706 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Cost of revenues (exclusive of depreciation and amortization expense presented below) | 239,433 |  |  | 187,052 |  |  | 152,071 |  |  | — |  |  | 578,556 |
Selling, general and administrative expense | 36,351 |  |  | 10,525 |  |  | 9,081 |  |  | 40,081 |  |  | 96,038 |
Depreciation and amortization expense | 17,972 |  |  | 28,564 |  |  | 20,107 |  |  | 691 |  |  | 67,334 |
Other operating (income) loss, net | (7,083) |  |  | 183 |  |  | (14) |  |  | (213) |  |  | (7,127) |
| 286,673 |  |  | 226,324 |  |  | 181,245 |  |  | 40,559 |  |  | 734,801 |
Operating income (loss) | $ | 35,697 |  |  | $ | 4,865 |  |  | $ | 2,902 |  |  | $ | (40,559) |  |  | $ | 2,905 |
Capital expenditures | $ | 5,069 |  |  | $ | 12,963 |  |  | $ | 2,059 |  |  | $ | 175 |  |  | $ | 20,266 |
Total assets | $ | 512,363 |  |  | $ | 206,632 |  |  | $ | 299,956 |  |  | $ | 45,441 |  |  | $ | 1,064,392 |
________________ (1)Operating income included a $6.1 million gain on settlement of outstanding litigation.
Schedule of Supplemental Revenue Information by Segments | The following tables provide supplemental disaggregated revenue from contracts with customers by operating segment for the years ended December 31, 2024, 2023 and 2022 (in thousands):
| Offshore Manufactured Products |  | Completion and Production Services |  | Downhole Technologies
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Project-driven: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | $ | 232,867 |  |  | $ | 235,080 |  |  | $ | 189,842 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Services | 123,906 |  |  | 112,742 |  |  | 98,968 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total project-driven | 356,773 |  |  | 347,822 |  |  | 288,810 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Military and other products | 41,127 |  |  | 33,889 |  |  | 33,560 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Short-cycle: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 128,571 |  |  | 149,581 |  |  | 162,161 |
Services | — |  |  | — |  |  | — |  |  | 163,902 |  |  | 242,633 |  |  | 231,189 |  |  | 2,215 |  |  | 8,358 |  |  | 21,986 |
Total short-cycle | — |  |  | — |  |  | — |  |  | 163,902 |  |  | 242,633 |  |  | 231,189 |  |  | 130,786 |  |  | 157,939 |  |  | 184,147 |
| $ | 397,900 |  |  | $ | 381,711 |  |  | $ | 322,370 |  |  | $ | 163,902 |  |  | $ | 242,633 |  |  | $ | 231,189 |  |  | $ | 130,786 |  |  | $ | 157,939 |  |  | $ | 184,147 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | Financial information by geographic location for the years ended December 31, 2024, 2023 and 2022, is summarized below (in thousands). Revenues are attributable to countries based on the location of the entity selling the products or performing the services and include export sales. Long-lived assets are attributable to countries based on the physical location of the operations and its operating assets and do not include intercompany receivable balances.
| United States |  | United Kingdom |  | Singapore |  | Other |  | Total
2024 |  |  |  |  |  |  |  |  |
Revenues from unaffiliated customers | $ | 484,945 |  |  | $ | 103,814 |  |  | $ | 38,835 |  |  | $ | 64,994 |  |  | $ | 692,588 |
Long-lived assets | 354,487 |  |  | 75,014 |  |  | 16,090 |  |  | 36,388 |  |  | 481,979 |
2023 |  |  |  |  |  |  |  |  |
Revenues from unaffiliated customers | $ | 594,808 |  |  | $ | 81,643 |  |  | $ | 48,131 |  |  | $ | 57,701 |  |  | $ | 782,283 |
Long-lived assets | 407,457 |  |  | 79,607 |  |  | 6,485 |  |  | 41,687 |  |  | 535,236 |
2022 |  |  |  |  |  |  |  |  |
Revenues from unaffiliated customers | $ | 571,008 |  |  | $ | 82,687 |  |  | $ | 34,380 |  |  | $ | 49,631 |  |  | $ | 737,706 |
Long-lived assets | 443,818 |  |  | 76,377 |  |  | 14,218 |  |  | 41,531 |  |  | 575,944 |

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