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REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Prior Period Adjustment [Abstract]

Summary of Effects of Corrections of Errors

The Company evaluated the errors described above (and quantified in the table below), both qualitatively and quantitatively, in accordance with Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin (“SAB”) Topic 1.M, Materiality, codified in ASC 250, Accounting Changes and Error Corrections, and concluded that the errors were not material to the previously issued financial statements taken as a whole. The

unaudited consolidated financial statements presented herein as of and for the three months ended March 31, 2023 have been revised to correct the errors described above in accordance with SEC SAB Topic 1.M, as codified in ASC 250.

		For the three months ended March 31, 2023
Unaudited Condensed Consolidated Statement of Cash Flows		As Previously Reported				Adjustment				As Revised
Non-cash lease expense		$	(220	)		$	1,360			$	1,140
Provision for excess and obsolete inventory			—				17				17
Provision for excess and obsolete property and equipment			—				117				117
Inventories, net			(1,442	)			1,558				116
Operating lease liabilities			274				(1,360	)			(1,086	)
Accounts payable			5,765				(2,557	)			3,208
Accrued Expenses			207				(3,387	)			(3,180	)
Purchase of property, plant and equipment			(10,815	)			3,748				(7,067	)
Proceeds from sale of lost-in-hole equipment			5,315				504				5,819
ROU assets obtained in exchange for lease liabilities			2,516				(1,156	)			1,360
Purchases of inventory included in accounts payable and accrued expenses and other current liabilities			—				1,575				1,575
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities			—				4,369				4,369

The following table presents (in thousands) the effects of the corrections of the errors described above:

		For the year ended December 31, 2022
Consolidated Statement of Cash Flows		As Previously Reported				Adjustment				As Revised
Non-cash lease expense		$	(3,768	)		$	7,907			$	4,139
Provision for excess and obsolete inventory			—				45				45
Provision for excess and obsolete property and equipment			—				510				510
Inventories, net			(940	)			34				(906	)
Operating lease liabilities			3,733				(7,907	)			(4,174	)
Accounts payable			(981	)			(451	)			(1,432	)
Purchase of property, plant and equipment			(23,753	)			(935	)			(24,688	)
Proceeds from sale of lost-in-hole equipment			20,319				797				21,116
ROU assets obtained in exchange for lease liabilities			9,451				(1,544	)			7,907
Purchases of inventory included in accounts payable and accrued expenses and other current liabilities			—				79				79
Purchases of property and equipment included in accounts payable and accrued expenses and other current liabilities			—				372				372

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- References

No definition available.

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

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