v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:          
Net income (loss) $ (1,088) $ 7,726 $ 2,793 $ (5,388)  
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:          
Stock based compensation     1,127 682  
Depreciation, depletion, accretion and amortization     36,839 50,485  
Amortization of debt origination costs     565 588  
Change in provision for expected credit losses     (414) (112)  
Gains on disposal of assets     (3,284) (3,738)  
Gains from sales of equipment damaged or lost down-hole     (335) (607)  
Impairment of goodwill 1,810 0 1,810 0 $ 0
Gain on sale of business     (2,080) 0  
Deferred income taxes     (70) 8,557  
Other     (273) 104  
Changes in assets and liabilities:          
Accounts receivable, net     1,489 (55,472)  
Receivables from related parties, net     (44) (298)  
Inventories     (2,896) 35  
Prepaid expenses and other assets     8,990 7,613  
Accounts payable     (7,537) 9,472  
Accrued expenses and other liabilities     (19,679) (20,777)  
Income taxes payable     7,950 2,790  
Net cash provided by (used in) operating activities     24,951 (6,066)  
Cash flows from investing activities:          
Purchases of property and equipment     (15,265) (9,099)  
Business divestitures, net of cash transferred     3,276 0  
Proceeds from disposal of property and equipment     4,304 8,659  
Net cash used in investing activities     (7,685) (440)  
Cash flows from financing activities:          
Borrowings on long-term debt     168,800 142,475  
Repayments of long-term debt     (183,291) (134,674)  
Proceeds from sale leaseback transaction     0 4,589  
Payments on sale leaseback transaction     (3,711) (3,249)  
Principal payments on financing leases and equipment financing notes     (4,872) (1,753)  
Other     (919) 0  
Net cash (used in) provided by financing activities     (23,993) 7,388  
Effect of foreign exchange rate on cash     (28) (164)  
Net change in cash and cash equivalents     (6,755) 718  
Cash and cash equivalents at beginning of period     17,282 9,899 9,899
Cash and cash equivalents at end of period 10,527 10,617 10,527 10,617 $ 17,282
Supplemental disclosure of cash flow information:          
Cash paid for interest     8,951 6,316  
Cash paid for income taxes, net of refunds received     788 97  
Supplemental disclosure of non-cash transactions:          
Purchases of property and equipment included in accounts payable and accrued expenses     4,197 3,837  
Right-of-use assets obtained for financing lease liabilities $ 201 $ 0 $ 507 $ 0  

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