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Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Summary financial data by segment follows (in thousands):
|  | Year ended December 31,
|  | 2021 |  | 2020
Revenue: |  |  |  |
Drilling & Downhole |  | $ | 239,895 |  |  | $ | 216,836 |
Completions |  | 185,018 |  |  | 118,685 |
Production |  | 116,710 |  |  | 177,510 |
Eliminations |  | (555) |  |  | (555) |
Total revenue |  | $ | 541,068 |  |  | $ | 512,476 |
Segment operating income (loss): |  |  |  |
Drilling & Downhole |  | $ | 4,749 |  |  | $ | (47,964) |
Completions |  | (4,532) |  |  | (97,304) |
Production |  | (14,354) |  |  | (33,418) |
Corporate |  | (31,408) |  |  | (30,012) |
Total segment operating loss |  | (45,545) |  |  | (208,698) |
Impairments of intangible assets, property and equipment |  | — |  |  | 20,394 |
Loss (gain) on disposal of assets and other |  | (1,052) |  |  | 2,531 |
Operating loss |  | $ | (44,493) |  |  | $ | (231,623) |
Depreciation and amortization |  |  |  |
Drilling & Downhole |  | $ | 14,536 |  |  | $ | 17,895 |
Completions |  | 22,568 |  |  | 24,831 |
Production |  | 4,769 |  |  | 7,755 |
Corporate |  | 303 |  |  | 519 |
Total depreciation and amortization |  | $ | 42,176 |  |  | $ | 51,000 |
A summary of capital expenditures by reportable segment is as follows (in thousands):
|  | Year ended December 31,
Capital expenditures |  | 2021 |  | 2020
Drilling & Downhole |  | $ | 1,476 |  |  | $ | 462 |
Completions |  | 512 |  |  | 275 |
Production |  | 411 |  |  | 287 |
Corporate |  | — |  |  | 1,222 |
Total capital expenditures |  | $ | 2,399 |  |  | $ | 2,246 |
A summary of consolidated assets by reportable segment is as follows (in thousands):
|  | Year ended December 31,
Assets |  | 2021 |  | 2020
Drilling & Downhole |  | $ | 313,493 |  |  | $ | 314,375 |
Completions |  | 351,908 |  |  | 356,645 |
Production |  | 83,150 |  |  | 92,949 |
Corporate |  | 42,785 |  |  | 125,957 |
Total assets |  | $ | 791,336 |  |  | $ | 889,926 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | A summary of long-lived assets by country is as follows (in thousands):
|  | Year ended December 31,
Long-lived assets: |  | 2021 |  | 2020
United States |  | $ | 298,171 |  |  | $ | 332,554 |
Europe |  | 25,956 |  |  | 42,424 |
Canada |  | 14,977 |  |  | 17,796 |
Asia-Pacific |  | 221 |  |  | 836 |
Middle East |  | 4,412 |  |  | 4,877 |
Latin America |  | 866 |  |  | 1,248 |
Total long-lived assets |  | $ | 344,603 |  |  | $ | 399,735 |
The following table presents our revenues disaggregated by geography based on shipping destination (in thousands):
|  | Year ended December 31,
|  | 2021 |  | 2020
Revenue: |  | $ | % |  | $ | %
United States |  | $ | 324,376 |  | 60.0 | % |  | $ | 323,322 |  | 63.2 | %
Canada |  | 41,822 |  | 7.7 | % |  | 30,492 |  | 5.9 | %
Europe & Africa |  | 59,207 |  | 10.9 | % |  | 37,438 |  | 7.3 | %
Middle East |  | 48,352 |  | 8.9 | % |  | 43,192 |  | 8.4 | %
Asia-Pacific |  | 36,641 |  | 6.8 | % |  | 48,067 |  | 9.4 | %
Latin America |  | 30,670 |  | 5.7 | % |  | 29,965 |  | 5.8 | %
Total Revenue |  | $ | 541,068 |  | 100.0 | % |  | $ | 512,476 |  | 100.0 | %
Revenue from External Customers by Products and Services | The following table presents our revenues disaggregated by product line (in thousands):
|  | Year ended December 31,
|  | 2021 |  | 2020
Revenue: |  | $ | % |  | $ | %
Drilling Technologies |  | $ | 96,680 |  | 17.8 | % |  | $ | 97,232 |  | 19.1 | %
Downhole Technologies |  | 69,215 |  | 12.8 | % |  | 64,083 |  | 12.5 | %
Subsea Technologies |  | 74,000 |  | 13.7 | % |  | 55,521 |  | 10.8 | %
Stimulation and Intervention |  | 96,731 |  | 17.9 | % |  | 56,460 |  | 11.0 | %
Coiled Tubing |  | 88,287 |  | 16.3 | % |  | 62,225 |  | 12.1 | %
Production Equipment |  | 60,981 |  | 11.3 | % |  | 65,763 |  | 12.8 | %
Valve Solutions |  | 55,729 |  | 10.3 | % |  | 111,747 |  | 21.8 | %
Eliminations |  | (555) |  | (0.1) | % |  | (555) |  | (0.1) | %
Total revenue |  | $ | 541,068 |  | 100.0 | % |  | $ | 512,476 |  | 100.0 | %

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 + Details
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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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