Quarterly report pursuant to Section 13 or 15(d)

Reporting Segments (Tables)

v3.23.3
Reporting Segments (Tables)
 9 Months Ended
Sep. 30, 2023
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, 2023 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 20,166  $ 26,712  $ 10,633  $ 2,820  $ 4,628  $ —  $ 64,959 
Intersegment revenues 161  —  —  2  909  (1,072) — 
Total revenue 20,327  26,712  10,633  2,822  5,537  (1,072) 64,959 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 17,528  22,042  6,977  2,599  3,671  —  52,817 
Intersegment cost of revenues 325  10  —  109  628  (1,072) — 
Total cost of revenue 17,853  22,052  6,977  2,708  4,299  (1,072) 52,817 
Selling, general and administrative 1,579  6,495  1,224  389  724  —  10,411 
Depreciation, depletion, amortization and accretion 3,971  1,557  2,836  1,222  1,647  —  11,233 
(Gains) losses on disposal of assets, net (2,016) (311) —  (138) 15  —  (2,450)
Impairment of goodwill —  —  —  —  1,810  —  1,810 
Operating loss (1,060) (3,081) (404) (1,359) (2,958) —  (8,862)
Interest expense, net 774  1,647  117  151  187  —  2,876 
Other income, net —  (11,348) (6) —  (2,734) —  (14,088)
(Loss) income before income taxes $ (1,834) $ 6,620  $ (515) $ (1,510) $ (411) $ —  $ 2,350 
Three Months Ended September 30, 2022 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 51,378  $ 33,296  $ 12,910  $ 3,118  $ 6,500  $ —  $ 107,202 
Intersegment revenues 154  —  —  —  468  (622) — 
Total revenue 51,532  33,296  12,910  3,118  6,968  (622) 107,202 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 35,414  26,495  9,206  2,695  4,646  —  78,456 
Intersegment cost of revenues 403  17  —  109  93  (622) — 
Total cost of revenue 35,817  26,512  9,206  2,804  4,739  (622) 78,456 
Selling, general and administrative 2,390  4,968  1,076  305  946  —  9,685 
Depreciation, depletion, amortization and accretion 4,772  3,969  2,865  1,598  2,638  —  15,842 
(Gains) losses on disposal of assets, net (339) 73  —  (286) (47) —  (599)
Operating income (loss) 8,892  (2,226) (237) (1,303) (1,308) —  3,818 
Interest expense, net 531  2,047  212  154  318  —  3,262 
Other income, net (345) (10,304) (3) —  (337) —  (10,989)
Income (loss) before income taxes $ 8,706  $ 6,031  $ (446) $ (1,457) $ (1,289) $ —  $ 11,545 
Nine Months Ended September 30, 2023 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 114,810  $ 83,308  $ 34,643  $ 7,972  $ 15,977  $ —  $ 256,710 
Intersegment revenues 400  —  25  9  1,710  (2,144) — 
Total revenue 115,210  83,308  34,668  7,981  17,687  (2,144) 256,710 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 93,158  67,810  21,905  7,246  11,942  —  202,061 
Intersegment cost of revenues 1,029  29  —  326  760  (2,144) — 
Total cost of revenue 94,187  67,839  21,905  7,572  12,702  (2,144) 202,061 
Selling, general and administrative 5,847  17,091  2,682  1,039  2,492  —  29,151 
Depreciation, depletion, amortization and accretion 13,288  7,366  6,397  3,873  5,915  —  36,839 
Gains on disposal of assets, net (2,016) (439) (16) (138) (675) —  (3,284)
Impairment of goodwill —  —  —  —  1,810  —  1,810 
Operating income (loss) 3,904  (8,549) 3,700  (4,365) (4,557) —  (9,867)
Interest expense, net 2,527  5,361  422  481  594  —  9,385 
Other expense (income), net 1  (28,713) (12) —  (2,327) —  (31,051)
Income (loss) before income taxes $ 1,376  $ 14,803  $ 3,290  $ (4,846) $ (2,824) $ —  $ 11,799 


Nine Months Ended September 30, 2022 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 118,580  $ 81,892  $ 35,098  $ 7,922  $ 15,686  $ —  $ 259,178 
Intersegment revenues 643  —  2,450  22  1,044  (4,159) — 
Total revenue 119,223  81,892  37,548  7,944  16,730  (4,159) 259,178 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 88,740  67,190  26,701  7,100  11,991  —  201,722 
Intersegment cost of revenues 3,419  49  —  430  265  (4,163) — 
Total cost of revenue 92,159  67,239  26,701  7,530  12,256  (4,163) 201,722 
Selling, general and administrative 6,314  14,056  2,774  874  2,542  —  26,560 
Depreciation, depletion, amortization and accretion 17,963  12,495  6,717  4,929  8,381  —  50,485 
Gains on disposal of assets, net (547) (795) (90) (286) (2,020) —  (3,738)
Operating income (loss) 3,334  (11,103) 1,446  (5,103) (4,429) 4  (15,851)
Interest expense, net 1,324  5,345  552  379  670  —  8,270 
Other (income) expense, net (345) (29,948) (10) —  128  —  (30,175)
Income (loss) before income taxes $ 2,355  $ 13,500  $ 904  $ (5,482) $ (5,227) $ 4  $ 6,054 
Well Completion Infrastructure Sand Drilling All Other Eliminations Total
As of September 30, 2023:
Total assets $ 60,649  $ 461,731  $ 125,608  $ 17,403  $ 90,306  $ (69,721) $ 685,976 
As of December 31, 2022:
Total assets $ 82,897  $ 450,841  $ 129,467  $ 21,755  $ 120,164  $ (80,446) $ 724,678