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Goodwill and Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The changes in the carrying amount of goodwill from December 31, 2023 to June 30, 2024, were as follows (in thousands):
|  | Artificial Lift and Downhole
Goodwill, December 31, 2023 |  | $ | — |
Acquisitions |  | 63,941 |
Impact on non-U.S. local currency translation |  | (1,252) |
Goodwill, June 30, 2024 |  | $ | 62,689 |
Schedule of Intangible Assets | Intangible assets consisted of the following as of June 30, 2024 and December 31, 2023, respectively (in thousands):
| June 30, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Intangibles |  | Amortization Period (In Years)
Customer relationships | $ | 364,622 |  |  | $ | (179,305) |  |  | $ | 185,317 |  |  | 10 - 35
Patents and technology | 89,001 |  |  | (43,944) |  |  | 45,057 |  |  | 5 - 19
Trade names | 46,574 |  |  | (29,921) |  |  | 16,653 |  |  | 7 - 19
Trademarks | 5,089 |  |  | (2,290) |  |  | 2,799 |  |  | 15
Non-compete agreements | 189 |  |  | (189) |  |  | — |  |  | 5
Total intangible assets | $ | 505,475 |  |  | $ | (255,649) |  |  | $ | 249,826 |  |  |
| December 31, 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Intangibles |  | Amortization Period (In Years)
Customer relationships | $ | 267,838 |  |  | $ | (164,672) |  |  | $ | 103,166 |  |  | 10 - 35
Patents and technology | 89,151 |  |  | (41,189) |  |  | 47,962 |  |  | 5 - 19
Trade names | 42,847 |  |  | (28,974) |  |  | 13,873 |  |  | 7 - 19
Trademarks | 5,089 |  |  | (2,120) |  |  | 2,969 |  |  | 15
Non-compete agreements | 190 |  |  | (190) |  |  | — |  |  | 5
Total intangible assets | $ | 405,115 |  |  | $ | (237,145) |  |  | $ | 167,970 |  |  |

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