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Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Schedule of Income Statement by Segment | Summary financial data by segment follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Revenue: |  |  |  |  |  |  |
Drilling & Downhole | $ | 75,723 |  |  | $ | 63,180 |  |  | 223,476 |  |  | 173,406 |
Completions | 72,246 |  |  | 49,692 |  |  | 190,867 |  |  | 134,051 |
Production | 34,238 |  |  | 28,457 |  |  | 95,622 |  |  | 85,825 |
Eliminations | (372) |  |  | (345) |  |  | (710) |  |  | (361) |
Total revenue | $ | 181,835 |  |  | $ | 140,984 |  |  | $ | 509,255 |  |  | $ | 392,921 |
Operating income (loss): |  |  |  |  |  |  |
Drilling & Downhole | $ | 9,481 |  |  | $ | 4,042 |  |  | $ | 23,995 |  |  | $ | 2,237 |
Completions | 5,915 |  |  | 250 |  |  | 8,787 |  |  | (52) |
Production | 665 |  |  | (3,374) |  |  | (1,241) |  |  | (11,256) |
Corporate | (8,411) |  |  | (8,387) |  |  | (24,501) |  |  | (23,667) |
Segment operating income (loss) | 7,650 |  |  | (7,469) |  |  | 7,040 |  |  | (32,738) |
Gain on disposal of assets and other | (52) |  |  | (93) |  |  | (938) |  |  | (1,362) |
Operating income (loss) | $ | 7,702 |  |  | $ | (7,376) |  |  | $ | 7,978 |  |  | $ | (31,376) |
A summary of consolidated assets by reportable segment is as follows (in thousands):
| September 30, 2022 |  | December 31, 2021
Drilling & Downhole | $ | 317,807 |  |  | $ | 313,493 |
Completions | 364,952 |  |  | 351,908 |
Production | 91,476 |  |  | 83,150 |
Corporate | 16,015 |  |  | 42,785 |
Total assets | $ | 790,250 |  |  | $ | 791,336 |
Schedule of Disaggregation of Revenue | The following table presents our revenues disaggregated by product line (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Drilling Technologies | $ | 38,159 |  |  | $ | 23,211 |  |  | $ | 100,934 |  |  | $ | 69,355 |
Downhole Technologies | 21,916 |  |  | 17,623 |  |  | 62,902 |  |  | 49,329 |
Subsea Technologies | 15,648 |  |  | 22,346 |  |  | 59,640 |  |  | 54,722 |
Stimulation and Intervention | 43,647 |  |  | 25,562 |  |  | 111,143 |  |  | 68,618 |
Coiled Tubing | 28,599 |  |  | 24,130 |  |  | 79,724 |  |  | 65,433 |
Production Equipment | 18,463 |  |  | 14,314 |  |  | 50,055 |  |  | 46,107 |
Valve Solutions | 15,775 |  |  | 14,143 |  |  | 45,567 |  |  | 39,718 |
Eliminations | (372) |  |  | (345) |  |  | (710) |  |  | (361) |
Total revenue | $ | 181,835 |  |  | $ | 140,984 |  |  | $ | 509,255 |  |  | $ | 392,921 |
Schedule of Revenue by Geography | The following table presents our revenues disaggregated by geography (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
United States | $ | 124,896 |  |  | $ | 88,532 |  |  | $ | 336,754 |  |  | $ | 234,246 |
Canada | 14,169 |  |  | 10,946 |  |  | 35,761 |  |  | 30,027 |
Europe & Africa | 14,291 |  |  | 17,416 |  |  | 45,186 |  |  | 45,643 |
Middle East | 12,751 |  |  | 10,916 |  |  | 38,700 |  |  | 33,196 |
Asia-Pacific | 9,537 |  |  | 7,302 |  |  | 26,963 |  |  | 31,097 |
Latin America | 6,191 |  |  | 5,872 |  |  | 25,891 |  |  | 18,712 |
Total Revenue | $ | 181,835 |  |  | $ | 140,984 |  |  | $ | 509,255 |  |  | $ | 392,921 |

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