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Business Segments (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summary financial data by reportable segment follows (in thousands):

						Year ended December 31,
						2022						2021
Revenues
Drilling & Downhole						$	304,565					$	239,895
Completions						264,951						185,018
Production						131,519						116,710
Eliminations						(1,122)						(555)
Total revenues						$	699,913					$	541,068
Segment operating income (loss)
Drilling & Downhole						$	32,201					$	4,749
Completions						11,565						(4,532)
Production						(443)						(14,354)
Corporate						(34,268)						(31,408)
Total segment operating income (loss)						9,055						(45,545)
Gain on sale-leaseback transactions						(7,000)						—
Gain on disposal of assets and other						(1,271)						(1,052)
Operating income (loss)						$	17,326					$	(44,493)
Depreciation and amortization
Drilling & Downhole						$	11,872					$	14,536
Completions						21,866						22,568
Production						2,906						4,769
Corporate						334						303
Total depreciation and amortization						$	36,978					$	42,176

A summary of capital expenditures by reportable segment is as follows (in thousands):

						Year ended December 31,
Capital expenditures						2022						2021
Drilling & Downhole						$	1,462					$	1,476
Completions						5,145						512
Production						510						411
Corporate						375						—
Total capital expenditures						$	7,492					$	2,399

A summary of consolidated assets by reportable segment is as follows (in thousands):

						Year ended December 31,
Assets						2022						2021
Drilling & Downhole						$	340,819					$	313,493
Completions						366,771						351,908
Production						95,089						83,150
Corporate						32,078						42,785
Total assets						$	834,757					$	791,336

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

A summary of long-lived assets by geography is as follows (in thousands):

Long-lived assets						December 31, 2022						December 31, 2021
United States						$	279,390					$	298,171
Europe						26,962						25,956
Canada						11,659						14,977
Asia-Pacific						20						221
Middle East						3,806						4,412
Latin America						55						866
Total long-lived assets						$	321,892					$	344,603

The following table presents our revenues disaggregated by geography based on shipping destination (in thousands):

						Year ended December 31,
						2022									2021
Revenues						$			%						$			%
United States						$	470,765		67.3		%				$	324,376		60.0		%
Canada						48,279			6.9		%				41,822			7.7		%
Europe & Africa						57,533			8.2		%				59,207			10.9		%
Middle East						51,891			7.4		%				48,352			8.9		%
Asia-Pacific						36,832			5.3		%				36,641			6.8		%
Latin America						34,613			4.9		%				30,670			5.7		%
Total Revenues						$	699,913		100.0		%				$	541,068		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,
						2022									2021
Revenues						$			%						$			%
Drilling Technologies						$	143,389		20.6		%				$	96,680		17.8		%
Downhole Technologies						84,987			12.1		%				69,215			12.8		%
Subsea Technologies						76,189			10.9		%				74,000			13.7		%
Stimulation and Intervention						156,331			22.3		%				96,731			17.9		%
Coiled Tubing						108,620			15.5		%				88,287			16.3		%
Production Equipment						69,914			10.0		%				60,981			11.3		%
Valve Solutions						61,605			8.8		%				55,729			10.3		%
Eliminations						(1,122)			(0.2)		%				(555)			(0.1)		%
Total revenues						$	699,913		100.0		%				$	541,068		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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