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Business Segments (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

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

						Year ended December 31,
						2023						2022
Revenue
Drilling & Downhole						$	329,576					$	304,565
Completions						265,628						264,951
Production						145,864						131,519
Eliminations						(2,204)						(1,122)
Total revenue						$	738,864					$	699,913
Segment operating income (loss)
Drilling & Downhole						$	33,767					$	32,201
Completions						10,788						11,565
Production						6,462						(443)
Corporate						(27,253)						(34,268)
Total segment operating income						23,764						9,055
Transaction expenses						2,892						—
Gain on sale-leaseback transactions						—						(7,000)
Loss (gain) on disposal of assets and other						156						(1,271)
Operating income						$	20,716					$	17,326
Depreciation and amortization
Drilling & Downhole						$	10,564					$	11,872
Completions						21,813						21,866
Production						2,105						2,906
Corporate						246						334
Total depreciation and amortization						$	34,728					$	36,978

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

						Year ended December 31,
Capital expenditures						2023						2022
Drilling & Downhole						$	3,128					$	1,462
Completions						3,526						5,145
Production						543						510
Corporate						747						375
Total capital expenditures						$	7,944					$	7,492

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

						Year ended December 31,
Assets						2023						2022
Drilling & Downhole						$	347,035					$	340,819
Completions						350,216						366,771
Production						96,567						95,089
Corporate						27,243						32,078
Total assets						$	821,061					$	834,757

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):

						December 31,
Long-lived assets						2023						2022
United States						$	251,901					$	279,390
Europe						24,846						26,962
Canada						11,131						11,659
Asia-Pacific						67						20
Middle East						3,508						3,806
Latin America						4						55
Total long-lived assets						$	291,457					$	321,892

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

						Year ended December 31,
						2023									2022
Revenue						$			%						$			%
United States						$	455,871		61.7		%				$	470,765		67.3		%
Middle East						89,346			12.1		%				51,891			7.4		%
Europe & Africa						64,245			8.7		%				57,533			8.2		%
Canada						52,833			7.2		%				48,279			6.9		%
Asia-Pacific						38,624			5.2		%				36,832			5.3		%
Latin America						37,945			5.1		%				34,613			4.9		%
Total Revenue						$	738,864		100.0		%				$	699,913		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,
						2023									2022
Revenue						$			%						$			%
Drilling Technologies						$	170,650		23.2		%				$	143,389		20.6		%
Downhole Technologies						90,448			12.2		%				84,987			12.1		%
Subsea Technologies						68,478			9.3		%				76,189			10.9		%
Stimulation and Intervention						158,327			21.4		%				156,331			22.3		%
Coiled Tubing						107,301			14.5		%				108,620			15.5		%
Production Equipment						81,989			11.1		%				69,914			10.0		%
Valve Solutions						63,875			8.6		%				61,605			8.8		%
Eliminations						(2,204)			(0.3)		%				(1,122)			(0.2)		%
Total revenue						$	738,864		100.0		%				$	699,913		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.

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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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