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Segments and Related Information (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Financial information by operating segment as of and for the three and nine months ended September 30, 2025 and 2024 is summarized in the following tables (in thousands).
| Three Months Ended September 30, 2025
| Offshore Manufactured Products(1) |  | Completion and Production Services(2) |  | Downhole Technologies |  | Corporate(3) |  | Total
Revenues | $ | 108,627 |  |  | $ | 27,525 |  |  | $ | 29,028 |  |  | $ | — |  |  | $ | 165,180 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Cost of revenues (exclusive of depreciation and amortization expense presented below) | 78,234 |  |  | 22,411 |  |  | 28,001 |  |  | — |  |  | 128,646 |
Selling, general and administrative expense | 8,485 |  |  | 1,422 |  |  | 1,816 |  |  | 9,033 |  |  | 20,756 |
Depreciation and amortization expense | 3,958 |  |  | 4,089 |  |  | 3,978 |  |  | 103 |  |  | 12,128 |
Impairments of operating lease assets | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other operating (income) loss, net | 347 |  |  | (1,345) |  |  | (100) |  |  | — |  |  | (1,098) |
| 91,024 |  |  | 26,577 |  |  | 33,695 |  |  | 9,136 |  |  | 160,432 |
Operating income (loss) | $ | 17,603 |  |  | $ | 948 |  |  | $ | (4,667) |  |  | $ | (9,136) |  |  | $ | 4,748 |
Capital expenditures | $ | 4,615 |  |  | $ | 3,763 |  |  | $ | 180 |  |  | $ | 148 |  |  | $ | 8,706 |
________________ (1)Operating income included charges of $0.6 million primarily associated with the consolidation and relocation of certain manufacturing and service locations. (2)Operating income included $2.7 million of facility exit and other charges. (3)Operating loss included $0.3 million of severance charges.
| Nine Months Ended September 30, 2025
| Offshore Manufactured Products(1) |  | Completion and Production Services(2) |  | Downhole Technologies(3) |  | Corporate(4) |  | Total
Revenues | $ | 307,809 |  |  | $ | 91,468 |  |  | $ | 91,247 |  |  | $ | — |  |  | $ | 490,524 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Cost of revenues (exclusive of depreciation and amortization expense presented below) | 220,453 |  |  | 72,909 |  |  | 83,301 |  |  | — |  |  | 376,663 |
Selling, general and administrative expense | 26,595 |  |  | 5,435 |  |  | 5,814 |  |  | 28,423 |  |  | 66,267 |
Depreciation and amortization expense | 11,269 |  |  | 12,444 |  |  | 12,012 |  |  | 326 |  |  | 36,051 |
Impairments of operating lease assets | — |  |  | 403 |  |  | 955 |  |  | — |  |  | 1,358 |
Other operating (income) loss, net | 624 |  |  | (6,051) |  |  | (52) |  |  | — |  |  | (5,479) |
| 258,941 |  |  | 85,140 |  |  | 102,030 |  |  | 28,749 |  |  | 474,860 |
Operating income (loss) | $ | 48,868 |  |  | $ | 6,328 |  |  | $ | (10,783) |  |  | $ | (28,749) |  |  | $ | 15,664 |
Capital expenditures | $ | 17,441 |  |  | $ | 9,113 |  |  | $ | 1,399 |  |  | $ | 233 |  |  | $ | 28,186 |
Total assets (as of September 30, 2025) | $ | 555,097 |  |  | $ | 133,271 |  |  | $ | 258,384 |  |  | $ | 65,567 |  |  | $ | 1,012,319 |
________________ (1)Operating income included charges of $0.8 million primarily associated with the consolidation and relocation of certain manufacturing and service locations. (2)Operating income included $5.8 million in asset impairment, facility exit and other charges. (3)Operating loss included $1.2 million in asset impairment and other charges. (4)Operating loss included $0.3 million of severance charges.
| Three Months Ended September 30, 2024
| Offshore Manufactured Products(1) |  | Completion and Production Services(2) |  | Downhole Technologies(3) |  | Corporate |  | Total
Revenues | $ | 102,234 |  |  | $ | 40,099 |  |  | $ | 32,015 |  |  | $ | — |  |  | $ | 174,348 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Cost of revenues (exclusive of depreciation and amortization expense presented below) | 71,494 |  |  | 36,546 |  |  | 28,549 |  |  | — |  |  | 136,589 |
Selling, general and administrative expense | 8,497 |  |  | 3,401 |  |  | 2,559 |  |  | 8,297 |  |  | 22,754 |
Depreciation and amortization expense | 3,631 |  |  | 5,749 |  |  | 4,121 |  |  | 134 |  |  | 13,635 |
Impairment of goodwill | — |  |  | — |  |  | — |  |  | — |  |  | — |
Impairments of intangible assets | — |  |  | 10,787 |  |  | — |  |  | — |  |  | 10,787 |
Impairments of operating lease assets | — |  |  | 2,092 |  |  | 487 |  |  | — |  |  | 2,579 |
Other operating (income) loss, net | (698) |  |  | (209) |  |  | (48) |  |  | — |  |  | (955) |
| 82,924 |  |  | 58,366 |  |  | 35,668 |  |  | 8,431 |  |  | 185,389 |
Operating income (loss) | $ | 19,310 |  |  | $ | (18,267) |  |  | $ | (3,653) |  |  | $ | (8,431) |  |  | $ | (11,041) |
Capital expenditures | $ | 3,074 |  |  | $ | 4,084 |  |  | $ | 270 |  |  | $ | — |  |  | $ | 7,428 |
________________ (1)Operating income included $0.4 million of facility consolidation and other charges. (2)Operating loss included $17.2 million of asset impairment, facility consolidation and exit, patent defense and other charges. (3)Operating loss included $0.6 million of asset impairment and other charges.
| Nine Months Ended September 30, 2024
| Offshore Manufactured Products(1) |  | Completion and Production Services(2) |  | Downhole Technologies(3) |  | Corporate |  | Total
Revenues | $ | 290,647 |  |  | $ | 133,812 |  |  | $ | 103,534 |  |  | $ | — |  |  | $ | 527,993 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Cost of revenues (exclusive of depreciation and amortization expense presented below) | 206,231 |  |  | 114,255 |  |  | 90,087 |  |  | — |  |  | 410,573 |
Selling, general and administrative expense | 27,455 |  |  | 9,010 |  |  | 7,245 |  |  | 27,913 |  |  | 71,623 |
Depreciation and amortization expense | 11,571 |  |  | 17,875 |  |  | 12,646 |  |  | 436 |  |  | 42,528 |
Impairment of goodwill | — |  |  | — |  |  | 10,000 |  |  | — |  |  | 10,000 |
Impairments of intangible assets | — |  |  | 10,787 |  |  | — |  |  | — |  |  | 10,787 |
Impairments of operating lease assets | — |  |  | 2,092 |  |  | 487 |  |  | — |  |  | 2,579 |
Other operating (income) loss, net | 1,120 |  |  | (986) |  |  | (58) |  |  | — |  |  | 76 |
| 246,377 |  |  | 153,033 |  |  | 120,407 |  |  | 28,349 |  |  | 548,166 |
Operating income (loss) | $ | 44,270 |  |  | $ | (19,221) |  |  | $ | (16,873) |  |  | $ | (28,349) |  |  | $ | (20,173) |
Capital expenditures | $ | 11,847 |  |  | $ | 10,416 |  |  | $ | 1,026 |  |  | $ | 20 |  |  | $ | 23,309 |
Total assets (as of September 30, 2024) | $ | 506,563 |  |  | $ | 158,338 |  |  | $ | 273,093 |  |  | $ | 56,147 |  |  | $ | 994,141 |
________________ (1)Operating income included $3.4 million of facility consolidation and other charges. (2)Operating loss included $21.1 million of asset impairment, facility consolidation and exit, patent defense and other charges. (3)Operating loss included $10.6 million in asset impairment and other charges.
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, 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 September 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project-driven: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | $ | 67,729 |  |  | $ | 58,164 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 67,729 |  |  | $ | 58,164 |
Services | 30,172 |  |  | 32,754 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 30,172 |  |  | 32,754 |
Total project-driven | 97,901 |  |  | 90,918 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 97,901 |  |  | 90,918 |
Military and other products | 10,726 |  |  | 11,316 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10,726 |  |  | 11,316 |
Short-cycle products and services | — |  |  | — |  |  | 27,525 |  |  | 40,099 |  |  | 29,028 |  |  | 32,015 |  |  | 56,553 |  |  | 72,114 |
| $ | 108,627 |  |  | $ | 102,234 |  |  | $ | 27,525 |  |  | $ | 40,099 |  |  | $ | 29,028 |  |  | $ | 32,015 |  |  | $ | 165,180 |  |  | $ | 174,348 |
| Offshore Manufactured Products |  | Completion and Production Services |  | Downhole Technologies |  | Total
| 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024
Nine Months Ended September 30 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project-driven: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Products | $ | 195,506 |  |  | $ | 171,053 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 195,506 |  |  | $ | 171,053 |
Services | 82,503 |  |  | 89,011 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 82,503 |  |  | 89,011 |
Total project-driven | 278,009 |  |  | 260,064 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 278,009 |  |  | 260,064 |
Military and other products | 29,800 |  |  | 30,583 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 29,800 |  |  | 30,583 |
Short-cycle products and services | — |  |  | — |  |  | 91,468 |  |  | 133,812 |  |  | 91,247 |  |  | 103,534 |  |  | 182,715 |  |  | 237,346 |
| $ | 307,809 |  |  | $ | 290,647 |  |  | $ | 91,468 |  |  | $ | 133,812 |  |  | $ | 91,247 |  |  | $ | 103,534 |  |  | $ | 490,524 |  |  | $ | 527,993 |

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