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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The changes in the carrying amount of goodwill from December 31, 2023 to December 31, 2024, were as follows (in thousands):
|  | Artificial Lift and Downhole
Goodwill, December 31, 2023 |  | $ | — |
Acquisitions |  | 66,778 |
Impact on non-U.S. local currency translation |  | (5,125) |
Goodwill, December 31, 2024 |  | $ | 61,653 |
Schedule of Intangible Assets | At December 31, 2024 and 2023, intangible assets consisted of the following (in thousands):
| December 31, 2024
| Cost |  | Accumulated amortization |  | Net |  | Amortization period (in years)
Customer relationships | $ | 212,990 |  |  | $ | (121,405) |  |  | $ | 91,585 |  |  | 2 - 15
Patents and technology | 29,166 |  |  | (17,867) |  |  | 11,299 |  |  | 10 - 19
Trade names and other | $ | 28,913 |  |  | $ | (22,567) |  |  | $ | 6,346 |  |  | 8 - 19
Total intangible assets | $ | 271,069 |  |  | $ | (161,839) |  |  | $ | 109,230 |  |  |
| December 31, 2023
| Cost |  | Accumulated amortization |  | Net |  | 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 and other | 43,037 |  |  | (29,164) |  |  | 13,873 |  |  | 7 - 19
Trademark | 5,089 |  |  | (2,120) |  |  | 2,969 |  |  | 15
Total intangible assets | $ | 405,115 |  |  | $ | (237,145) |  |  | $ | 167,970 |  |  |
Schedule of Future Amortization Expense | The estimated future amortization expense for the next five years is as follows (in thousands):
Year ending December 31, |  | Amount
2025 |  | $ | 19,516 |
2026 |  | 16,819 |
2027 |  | 15,487 |
2028 |  | 14,188 |
2029 |  | 13,817 |

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