XML 38 R27.htm IDEA: XBRL DOCUMENT v3.23.3

Business Segments (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Financial Data by Segment and Assets by Reportable Segment

Summary financial data by segment follows (in thousands):

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2023						2022						2023						2022
Revenue
Drilling & Downhole			$	81,181					$	75,723					$	238,652					$	223,476
Completions			62,473						72,246						208,239						190,867
Production			36,877						34,238						108,918						95,622
Eliminations			(1,278)						(372)						(2,150)						(710)
Total revenue			$	179,253					$	181,835					$	553,659					$	509,255
Segment operating income
Drilling & Downhole			$	8,437					$	9,481					$	25,165					$	23,995
Completions			2,147						5,915						9,893						8,787
Production			1,803						665						4,546						(1,241)
Corporate			(6,861)						(8,411)						(20,538)						(24,501)
Segment operating income			5,526						7,650						19,066						7,040
Loss (gain) on disposal of assets and other			(145)						(52)						137						(938)
Operating income			$	5,671					$	7,702					$	18,929					$	7,978

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

			September 30, 2023						December 31, 2022
Drilling & Downhole			$	347,503					$	340,819
Completions			357,174						366,771
Production			100,149						95,089
Corporate			24,045						32,078
Total assets			$	828,871					$	834,757

Schedule of Revenue from External Customers by Products and Services

The following table presents our revenues disaggregated by product line (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Drilling Technologies			$	42,953					$	38,159					$	128,995					$	100,934
Downhole Technologies			23,480						21,916						68,763						62,902
Subsea Technologies			14,748						15,648						40,894						59,640
Stimulation and Intervention			32,545						43,647						126,266						111,143
Coiled Tubing			29,928						28,599						81,973						79,724
Production Equipment			21,706						18,463						59,268						50,055
Valve Solutions			15,171						15,775						49,650						45,567
Eliminations			(1,278)						(372)						(2,150)						(710)
Total revenue			$	179,253					$	181,835					$	553,659					$	509,255

Schedule of Revenue Disaggregated by Geography

The following table presents our revenues disaggregated by geography (in thousands):

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2023						2022						2023						2022
United States			$	103,453					$	124,896					$	352,183					$	336,754
Middle East			27,359						12,751						64,058						38,700
Canada			12,333						14,169						40,400						35,761
Europe & Africa			16,832						14,291						39,177						45,186
Latin America			9,185						6,191						30,218						25,891
Asia-Pacific			10,091						9,537						27,623						26,963
Total revenue			$	179,253					$	181,835					$	553,659					$	509,255

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

+ Details

Name:	us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

+ Details

Name:	us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
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
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ 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