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Business Segments (Tables)

12 Months Ended

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		%

X

- 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.

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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

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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.

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