XML 51 R39.htm IDEA: XBRL DOCUMENT
v3.25.3

Reportable Segments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following tables set forth certain financial information with respect to the Company’s reportable segments (in thousands):
Three Months Ended September 30, 2025 | Rentals | Infrastructure | Sand | Accommodations | Drilling | Total
Revenue from external and related party customers | $ | 2,750 |  | $ | 4,761 |  | $ | 2,728 |  | $ | 2,280 |  | $ | 2,282 |  | $ | 14,801 |
Intersegment revenue | 16 |  | — |  | — |  | — |  | — |  | 16 |
| 2,766 |  | 4,761 |  | 2,728 |  | 2,280 |  | 2,282 |  | 14,817 |
Reconciliation of Revenue |  |  |  |  |  |
Eliminations(a) |  |  |  |  |  | (16) |
Total consolidated revenue |  |  |  |  |  | $ | 14,801 |
Less segment expenses: |  |  |  |  |  |
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties | $ | 1,691 |  | $ | 4,714 |  | $ | 4,148 |  | $ | 1,436 |  | $ | 1,840 |  |
Selling, general and administrative, exclusive of stock based compensation | 1,408 |  | 1,032 |  | 761 |  | 378 |  | 230 |  |
Segment Adjusted EBITDA | $ | (333) |  | $ | (985) |  | $ | (2,181) |  | $ | 466 |  | $ | 212 |  | $ | (2,821) |
Reconciliation of total segment Adjusted EBITDA |  |  |  |  |
Less: |  |  |  |  |  |
Other(b) |  |  |  |  |  | $ | 1,558 |
Depreciation, depletion, amortization and accretion |  |  |  |  | 2,756 |
Losses on disposal of assets, net |  |  |  |  |  | 1,874 |
Interest (income) expense and financing charges, net |  |  |  |  | (922) |
Other expense, net |  |  |  |  |  | 1,831 |
Loss from continuing operations before income taxes |  |  |  |  | $ | (9,918) |
Three Months Ended September 30, 2024 | Rentals | Infrastructure | Sand | Accommodations | Drilling | Total
Revenue from external and related party customers | $ | 2,146 |  | $ | 4,351 |  | $ | 4,909 |  | $ | 2,854 |  | $ | 1,557 |  | $ | 15,817 |
Intersegment revenue | 83 |  | — |  | — |  | — |  | — |  | 83 |
| 2,229 |  | 4,351 |  | 4,909 |  | 2,854 |  | 1,557 |  | 15,900 |
Reconciliation of Revenue |  |  |  |  |  |
Other(b) |  |  |  |  |  | 1,229 |
Eliminations(a) |  |  |  |  |  | (77) |
Total consolidated revenue |  |  |  |  |  | $ | 17,052 |
Less segment expenses: |  |  |  |  |  |
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties | $ | 1,303 |  | $ | 3,647 |  | $ | 3,164 |  | $ | 1,694 |  | $ | 1,362 |  |
Selling, general and administrative, exclusive of stock based compensation | 392 |  | 988 |  | 1,498 |  | 456 |  | 336 |  |
Segment Adjusted EBITDA | $ | 534 |  | $ | (284) |  | $ | 247 |  | $ | 704 |  | $ | (141) |  | $ | 1,060 |
Reconciliation of total segment Adjusted EBITDA |  |  |  |  |
Less: |  |  |  |  |  |
Other(b) |  |  |  |  |  | $ | 4,002 |
Depreciation, depletion, amortization and accretion |  |  |  |  | 3,156 |
Gains on disposal of assets, net |  |  |  |  |  | (192) |
Stock based compensation |  |  |  |  |  | 219 |
Interest (income) expense and financing charges, net, inclusive of related parties |  |  | 1,065 |
Other expense, net |  |  |  |  |  | 1,108 |
Loss from continuing operations before income taxes |  |  |  |  | $ | (8,298) |
Nine Months Ended September 30, 2025 | Rentals | Infrastructure | Sand | Accommodations | Drilling | Total
Revenue from external and related party customers | $ | 7,744 |  | $ | 14,881 |  | $ | 14,843 |  | $ | 6,127 |  | $ | 3,207 |  | $ | 46,802 |
Intersegment revenue | 54 |  | — |  | — |  | — |  | — |  | 54 |
| 7,798 |  | 14,881 |  | 14,843 |  | 6,127 |  | 3,207 |  | 46,856 |
Reconciliation of Revenue |  |  |  |  |  |
Eliminations(a) |  |  |  |  |  | (54) |
Total consolidated revenue |  |  |  |  |  | $ | 46,802 |
Less segment expenses: |  |  |  |  |  |
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties | $ | 4,675 |  | $ | 12,817 |  | $ | 14,886 |  | $ | 4,110 |  | $ | 2,994 |  |
Selling, general and administrative, exclusive of stock based compensation | 2,774 |  | 2,776 |  | 3,374 |  | 1,072 |  | 617 |  |
Segment Adjusted EBITDA | $ | 349 |  | $ | (712) |  | $ | (3,417) |  | $ | 945 |  | $ | (404) |  | $ | (3,239) |
Reconciliation of total segment Adjusted EBITDA
Less: |  |  |  |  |  |
Other(b) |  |  |  |  |  | $ | 5,602 |
Depreciation, depletion, amortization and accretion |  |  |  |  | 7,679 |
Gains on disposal of assets, net |  |  |  |  |  | (2,675) |
Impairment of long-lived assets |  |  |  |  |  | 31,669 |
Stock based compensation |  |  |  |  |  | 412 |
Interest (income) expense and financing charges, net |  |  |  |  | (1,434) |
Other expense, net |  |  |  |  |  | 2,791 |
Loss from continuing operations before income taxes |  |  |  |  | $ | (47,283) |
Nine Months Ended September 30, 2024 | Rentals | Infrastructure | Sand | Accommodations | Drilling | Total
Revenue from external and related party customers | $ | 5,594 |  | $ | 13,957 |  | $ | 13,936 |  | $ | 8,474 |  | $ | 2,804 |  | $ | 44,765 |
Intersegment revenue | 326 |  | — |  | — |  | — |  | — |  | 326 |
| 5,920 |  | 13,957 |  | 13,936 |  | 8,474 |  | 2,804 |  | 45,091 |
Reconciliation of Revenue |  |  |  |  |  |
Other(b) |  |  |  |  |  | 3,658 |
Eliminations(a) |  |  |  |  |  | (331) |
Total consolidated revenue |  |  |  |  |  | $ | 48,418 |
Less segment expenses: |  |  |  |  |  |
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion, inclusive of related parties | $ | 3,879 |  | $ | 11,367 |  | $ | 13,484 |  | $ | 4,953 |  | $ | 3,349 |  |
Selling, general and administrative, exclusive of stock based compensation | 1,048 |  | 2,888 |  | 4,105 |  | 1,336 |  | 830 |  |
Segment Adjusted EBITDA | $ | 993 |  | $ | (298) |  | $ | (3,653) |  | $ | 2,185 |  | $ | (1,375) |  | $ | (2,148) |
Reconciliation of total segment Adjusted EBITDA
Less: |  |  |  |  |  |
Other(b) |  |  |  |  |  | $ | 100,438 |
Depreciation, depletion, amortization and accretion |  |  |  |  | 9,350 |
Gains on disposal of assets, net |  |  |  |  |  | (1,637) |
Stock based compensation |  |  |  |  |  | 657 |
Interest (income) expense and financing charges, net, inclusive of related parties |  |  | 8,712 |
Other expense (income), net |  |  |  |  |  | 64,624 |
Loss from continuing operations before income taxes |  |  |  |  | $ | (184,292) |
(a) Includes eliminations for intersegment transactions.
(b) Includes activity related to non-operating legacy services that are no longer active.
| Rentals | Infrastructure | Sand | Accommodations | Drilling | Total
As of September 30, 2025: |  |  |  |  |  |
Total assets for reportable segments | $ | 51,147 |  | $ | 5,906 |  | $ | 68,854 |  | $ | 12,835 |  | $ | 3,636 |  | $ | 142,378 |
Other assets(a) |  |  |  |  |  | 187,425 |
Total consolidated assets, excluding discontinued operations |  |  |  | $ | 329,803 |
As of December 31, 2024: |  |  |  |  |  |
Total assets for reportable segments | $ | 8,451 |  | $ | 6,010 |  | $ | 118,855 |  | $ | 12,811 |  | $ | 1,870 |  | $ | 147,997 |
Other assets(a) |  |  |  |  |  | 130,307 |
Total consolidated assets, excluding discontinued operations |  |  |  | $ | 278,304 |
(a) Includes assets related to non-operating legacy services that are no longer active as well as corporate related assets, which include cash and cash equivalents and restricted cash.
Following is a breakout of purchases of property, plant and equipment for the periods indicated (in thousands):
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Rentals | $ | 17,185 |  |  | $ | 127 |  |  | $ | 44,125 |  |  | $ | 350 |
Infrastructure | 19 |  |  | — |  |  | 120 |  |  | 291 |
Sand | — |  |  | — |  |  | 93 |  |  | — |
Accommodations | 95 |  |  | 17 |  |  | 170 |  |  | 97 |
Drilling | — |  |  | 15 |  |  | 116 |  |  | 100 |
Total segment purchases of property, plant and equipment | 17,299 |  |  | 159 |  |  | 44,624 |  |  | 838 |
Other(a) | — |  |  | — |  |  | — |  |  | 227 |
Total consolidated purchases of property, plant and equipment, excluding discontinued operations | $ | 17,299 |  |  | $ | 159 |  |  | $ | 44,624 |  |  | $ | 1,065 |
(a) Includes purchases related to non-operating legacy services that are no longer active.

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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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