XML 31 R17.htm IDEA: XBRL DOCUMENT v3.22.1
Business Segments
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Business Segments Business Segments The Company reports results of operations in the following three reporting segments: Drilling & Downhole, Completions and Production. The amounts indicated below as “Corporate” relate to costs and assets not allocated to the reportable segments. Summary financial data by segment follows (in thousands):
Three Months Ended March 31,
20222021
Revenue:
Drilling & Downhole71,260 48,656 
Completions52,542 37,843 
Production31,505 28,031 
Eliminations(133)(13)
Total revenue$155,174 $114,517 
Operating income (loss):
Drilling & Downhole$5,986 $(4,506)
Completions(715)68 
Production(1,752)(3,841)
Corporate(9,205)(7,010)
Segment operating loss(5,686)(15,289)
Loss (gain) on disposal of assets and other22 (909)
Operating loss$(5,708)$(14,380)
A summary of consolidated assets by reportable segment is as follows (in thousands):
March 31, 2022December 31, 2021
Drilling & Downhole$313,151 $313,493 
Completions365,450 351,908 
Production88,011 83,150 
Corporate24,317 42,785 
Total assets$790,929 $791,336 
Corporate assets primarily include cash and certain prepaid assets.
The following table presents our revenues disaggregated by product line (in thousands):
Three Months Ended March 31,
20222021
Drilling Technologies$29,235 $18,520 
Downhole Technologies19,564 15,093 
Subsea Technologies22,461 15,043 
Stimulation and Intervention30,159 18,702 
Coiled Tubing22,383 19,141 
Production Equipment15,167 14,394 
Valve Solutions16,338 13,637 
Eliminations(133)(13)
Total revenue$155,174 $114,517 
The following table presents our revenues disaggregated by geography (in thousands):
Three Months Ended March 31,
20222021
United States$97,232 $68,314 
Canada11,389 8,961 
Europe & Africa15,377 12,664 
Middle East11,153 10,341 
Asia-Pacific9,059 8,880 
Latin America10,964 5,357 
Total Revenue$155,174 $114,517