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Segments and Related Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Financial information by operating segment for the three months ended March 31, 2025 and 2024 is summarized in the following tables (in thousands).
| Three Months Ended March 31, 2025
| Offshore Manufactured Products |  | Completion and Production Services(1) |  | Downhole Technologies |  | Corporate |  | Total
Revenues | $ | 92,596 |  |  | $ | 34,519 |  |  | $ | 32,823 |  |  | $ | — |  |  | $ | 159,938 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Cost of revenues (exclusive of depreciation and amortization expense presented below) | 66,915 |  |  | 26,905 |  |  | 28,857 |  |  | — |  |  | 122,677 |
Selling, general and administrative expense | 8,635 |  |  | 1,996 |  |  | 1,999 |  |  | 9,900 |  |  | 22,530 |
Depreciation and amortization expense | 3,608 |  |  | 4,272 |  |  | 4,029 |  |  | 116 |  |  | 12,025 |
Other operating (income) loss, net | (838) |  |  | (2,157) |  |  | 62 |  |  | — |  |  | (2,933) |
| 78,320 |  |  | 31,016 |  |  | 34,947 |  |  | 10,016 |  |  | 154,299 |
Operating income (loss) | $ | 14,276 |  |  | $ | 3,503 |  |  | $ | (2,124) |  |  | $ | (10,016) |  |  | $ | 5,639 |
Capital expenditures | $ | 4,823 |  |  | $ | 3,525 |  |  | $ | 791 |  |  | $ | 19 |  |  | $ | 9,158 |
Total assets (as of March 31, 2025) | 506,530 |  |  | 147,665 |  |  | 268,139 |  |  | 68,401 |  |  | 990,735 |
________________ (1)Operating income included $0.9 million of facility consolidation charges.
| Three Months Ended March 31, 2024
| Offshore Manufactured Products(1) |  | Completion and Production Services(2) |  | Downhole Technologies(3) |  | Corporate |  | Total
Revenues | $ | 86,857 |  |  | $ | 47,292 |  |  | $ | 33,113 |  |  | $ | — |  |  | $ | 167,262 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Cost of revenues (exclusive of depreciation and amortization expense presented below) | 63,501 |  |  | 39,814 |  |  | 28,636 |  |  | — |  |  | 131,951 |
Selling, general and administrative expense | 8,558 |  |  | 2,526 |  |  | 2,283 |  |  | 9,129 |  |  | 22,496 |
Depreciation and amortization expense | 3,693 |  |  | 6,079 |  |  | 4,270 |  |  | 153 |  |  | 14,195 |
Impairment of goodwill | — |  |  | — |  |  | 10,000 |  |  | — |  |  | 10,000 |
Other operating (income) loss, net | 502 |  |  | (708) |  |  | 3 |  |  | — |  |  | (203) |
| 76,254 |  |  | 47,711 |  |  | 45,192 |  |  | 9,282 |  |  | 178,439 |
Operating income (loss) | $ | 10,603 |  |  | $ | (419) |  |  | $ | (12,079) |  |  | $ | (9,282) |  |  | $ | (11,177) |
Capital expenditures | $ | 7,221 |  |  | $ | 2,414 |  |  | $ | 446 |  |  | $ | 11 |  |  | $ | 10,092 |
Total assets (as of March 31, 2024) | 516,039 |  |  | 179,763 |  |  | 278,055 |  |  | 41,958 |  |  | 1,015,815 |
________________ (1)Operating income included $1.5 million of facility consolidation charges. (2)Operating loss included $1.0 million in facility consolidation and other charges. (3)Operating loss included a $10.0 million non-cash goodwill impairment charge (see Note 2, “Asset Impairments and Other Charges”).
Schedule of Supplemental Revenue Information by Segments | The following table provides supplemental disaggregated revenue from contracts with customers by operating segment for the three months ended March 31, 2025 and 2024 (in thousands).
| Offshore Manufactured Products |  | Completion and Production Services |  | Downhole Technologies |  | Total
| 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024
Three Months Ended March 31 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project-driven: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | $ | 59,124 |  |  | $ | 53,137 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 59,124 |  |  | $ | 53,137 |
Services | 24,424 |  |  | 25,233 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24,424 |  |  | 25,233 |
Total project-driven | 83,548 |  |  | 78,370 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 83,548 |  |  | 78,370 |
Military and other products | 9,048 |  |  | 8,487 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,048 |  |  | 8,487 |
Short-cycle products and services | — |  |  | — |  |  | 34,519 |  |  | 47,292 |  |  | 32,823 |  |  | 33,113 |  |  | 67,342 |  |  | 80,405 |
| $ | 92,596 |  |  | $ | 86,857 |  |  | $ | 34,519 |  |  | $ | 47,292 |  |  | $ | 32,823 |  |  | $ | 33,113 |  |  | $ | 159,938 |  |  | $ | 167,262 |

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