Quarterly report pursuant to Section 13 or 15(d)

Reporting Segments (Tables)

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Reporting Segments (Tables)
 6 Months Ended
Jun. 30, 2024
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 June 30, 2024 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 9,935  $ 31,433  $ 4,693  $ 736  $ 4,732  $ —  $ 51,529 
Intersegment revenues 109  —  27  —  2,359  (2,495) — 
Total revenue 10,044  31,433  4,720  736  7,091  (2,495) 51,529 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 10,096  24,630  4,589  1,155  3,371  —  43,841 
Intersegment cost of revenues 234  1  —  1  2,257  (2,493) — 
Total cost of revenue 10,330  24,631  4,589  1,156  5,628  (2,493) 43,841 
Selling, general and administrative 1,196  94,450  943  176  711  —  97,476 
Depreciation, depletion, amortization and accretion 2,691  627  1,271  613  849  —  6,051 
Gains on disposal of assets, net (105) (460) (110) (1) (360) —  (1,036)
Operating (loss) income (4,068) (87,815) (1,973) (1,208) 263  (2) (94,803)
Interest expense and financing charges, net 522  1,577  131  121  183  —  2,534 
Other expense (income), net —  72,687  (1) —  992  —  73,678 
Loss before income taxes $ (4,590) $ (162,079) $ (2,103) $ (1,329) $ (912) $ (2) $ (171,015)
Three Months Ended June 30, 2023 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 27,466  $ 28,315  $ 11,567  $ 2,810  $ 5,273  $ —  $ 75,431 
Intersegment revenues 118  —  —  —  383  (501) — 
Total revenue 27,584  28,315  11,567  2,810  5,656  (501) 75,431 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 23,594  23,292  7,067  2,375  3,924  —  60,252 
Intersegment cost of revenues 227  9  —  12  253  (501) — 
Total cost of revenue 23,821  23,301  7,067  2,387  4,177  (501) 60,252 
Selling, general and administrative 1,776  6,385  954  193  1,049  —  10,357 
Depreciation, depletion, amortization and accretion 4,500  2,436  2,374  1,154  2,186  —  12,650 
Gains on disposal of assets, net —  —  —  —  (473) —  (473)
Operating (loss) income (2,513) (3,807) 1,172  (924) (1,283) —  (7,355)
Interest expense and financing charges, net 824  1,869  149  133  245  —  3,220 
Other expense (income) net 1  (8,557) (4) —  221  —  (8,339)
(Loss) income before income taxes $ (3,338) $ 2,881  $ 1,027  $ (1,057) $ (1,749) $ —  $ (2,236)
Six Months Ended June 30, 2024 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 18,093  $ 56,471  $ 8,999  $ 1,247  $ 9,906  $ —  $ 94,716 
Intersegment revenues 222  —  28  —  3,364  (3,614) — 
Total revenue 18,315  56,471  9,027  1,247  13,270  (3,614) 94,716 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 18,434  46,164  10,430  2,203  7,194  —  84,425 
Intersegment cost of revenues 452  26  —  3  3,131  (3,612) — 
Total cost of revenue 18,886  46,190  10,430  2,206  10,325  (3,612) 84,425 
Selling, general and administrative 2,269  100,068  1,974  388  1,559  —  106,258 
Depreciation, depletion, amortization and accretion 5,955  1,346  2,417  1,488  1,867  —  13,073 
(Losses) gains on disposal of assets, net 145  (943) (110) 1  (1,296) —  (2,203)
Operating (loss) income (8,940) (90,190) (5,684) (2,836) 815  (2) (106,837)
Interest expense and financing charges, net 1,091  8,675  273  250  381  —  10,670 
Other expense (income), net 1  62,429  (1) —  1,107  —  63,536 
Loss before income taxes $ (10,032) $ (161,294) $ (5,956) $ (3,086) $ (673) $ (2) $ (181,043)
Six Months Ended June 30, 2023 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 94,644  $ 56,596  $ 24,009  $ 4,165  $ 12,337  $ —  $ 191,751 
Intersegment revenues 240  —  25  —  833  (1,098) — 
Total revenue 94,884  56,596  24,034  4,165  13,170  (1,098) 191,751 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 75,630  45,768  14,927  3,841  9,078  —  149,244 
Intersegment cost of revenues 704  20  —  26  348  (1,098) — 
Total cost of revenue 76,334  45,788  14,927  3,867  9,426  (1,098) 149,244 
Selling, general and administrative 4,268  10,595  1,458  339  2,080  —  18,740 
Depreciation, depletion, amortization and accretion 9,317  5,810  3,561  2,383  4,535  —  25,606 
Gains on disposal of assets, net —  (127) (16) —  (691) —  (834)
Operating income (loss) 4,965  (5,470) 4,104  (2,424) (2,180) —  (1,005)
Interest expense and financing charges, net 1,753  3,714  305  259  478  —  6,509 
Other expense (income), net 1  (17,365) (6) —  407  —  (16,963)
Income (loss) before income taxes $ 3,211  $ 8,181  $ 3,805  $ (2,683) $ (3,065) $ —  $ 9,449 
Well Completion Infrastructure Sand Drilling All Other Eliminations Total
As of June 30, 2024:
Total assets $ 48,559  $ 252,237  $ 117,547  $ 12,384  $ 65,232  $ (40,452) $ 455,507 
As of December 31, 2023:
Total assets $ 50,965  $ 462,429  $ 121,162  $ 13,492  $ 69,005  $ (18,574) $ 698,479