XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.22.2

Business Segments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Segment Reporting [Abstract] |
Schedule of Income Statement by Segment | Summary financial data by segment follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Revenue: |  |  |  |  |  |  |
Drilling & Downhole | $ | 76,493 |  |  | $ | 61,570 |  |  | 147,753 |  |  | 110,226 |
Completions | 66,079 |  |  | 46,516 |  |  | 118,621 |  |  | 84,359 |
Production | 29,879 |  |  | 29,337 |  |  | 61,384 |  |  | 57,368 |
Eliminations | (205) |  |  | (3) |  |  | (338) |  |  | (16) |
Total revenue | $ | 172,246 |  |  | $ | 137,420 |  |  | $ | 327,420 |  |  | $ | 251,937 |
Operating income (loss): |  |  |  |  |  |  |
Drilling & Downhole | $ | 8,528 |  |  | $ | 2,701 |  |  | $ | 14,514 |  |  | $ | (1,805) |
Completions | 3,587 |  |  | (370) |  |  | 2,872 |  |  | (302) |
Production | (154) |  |  | (4,041) |  |  | (1,906) |  |  | (7,882) |
Corporate | (6,885) |  |  | (8,270) |  |  | (16,090) |  |  | (15,280) |
Segment operating income (loss) | 5,076 |  |  | (9,980) |  |  | (610) |  |  | (25,269) |
Gain on disposal of assets and other | (908) |  |  | (360) |  |  | (886) |  |  | (1,269) |
Operating income (loss) | $ | 5,984 |  |  | $ | (9,620) |  |  | $ | 276 |  |  | $ | (24,000) |
A summary of consolidated assets by reportable segment is as follows (in thousands):
| June 30, 2022 |  | December 31, 2021
Drilling & Downhole | $ | 321,757 |  |  | $ | 313,493 |
Completions | 373,099 |  |  | 351,908 |
Production | 86,487 |  |  | 83,150 |
Corporate | 26,149 |  |  | 42,785 |
Total assets | $ | 807,492 |  |  | $ | 791,336 |
Schedule of Disaggregation of Revenue | The following table presents our revenues disaggregated by product line (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Drilling Technologies | $ | 33,540 |  |  | $ | 27,624 |  |  | $ | 62,775 |  |  | $ | 46,144 |
Downhole Technologies | 21,422 |  |  | 16,613 |  |  | 40,986 |  |  | 31,706 |
Subsea Technologies | 21,531 |  |  | 17,333 |  |  | 43,992 |  |  | 32,376 |
Stimulation and Intervention | 37,337 |  |  | 24,354 |  |  | 67,496 |  |  | 43,056 |
Coiled Tubing | 28,742 |  |  | 22,162 |  |  | 51,125 |  |  | 41,303 |
Production Equipment | 16,425 |  |  | 17,399 |  |  | 31,592 |  |  | 31,793 |
Valve Solutions | 13,454 |  |  | 11,938 |  |  | 29,792 |  |  | 25,575 |
Eliminations | (205) |  |  | (3) |  |  | (338) |  |  | (16) |
Total revenue | $ | 172,246 |  |  | $ | 137,420 |  |  | $ | 327,420 |  |  | $ | 251,937 |
Schedule of Revenue by Geography | The following table presents our revenues disaggregated by geography (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
United States | $ | 114,626 |  |  | $ | 77,400 |  |  | $ | 211,858 |  |  | $ | 145,714 |
Canada | 10,203 |  |  | 10,120 |  |  | 21,592 |  |  | 19,081 |
Europe & Africa | 15,518 |  |  | 15,563 |  |  | 30,895 |  |  | 28,227 |
Middle East | 14,796 |  |  | 11,939 |  |  | 25,949 |  |  | 22,280 |
Asia-Pacific | 8,367 |  |  | 14,915 |  |  | 17,426 |  |  | 23,795 |
Latin America | 8,736 |  |  | 7,483 |  |  | 19,700 |  |  | 12,840 |
Total Revenue | $ | 172,246 |  |  | $ | 137,420 |  |  | $ | 327,420 |  |  | $ | 251,937 |

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + 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 -Subparagraph a -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration