Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUE        
Total revenue $ 40,015 $ 64,959 $ 134,732 $ 256,710
COST AND EXPENSES        
Selling, general and administrative (Note 12) 8,702 10,411 114,961 29,151
Depreciation, depletion, amortization and accretion 6,184 11,233 19,256 36,839
Gains on disposal of assets, net (293) (2,450) (2,496) (3,284)
Impairment of goodwill 0 1,810 0 1,810
Total cost and expenses 52,565 73,821 254,120 266,577
Operating loss (12,550) (8,862) (119,388) (9,867)
OTHER INCOME (EXPENSE)        
Interest expense and financing charges, net (9,730) (2,876) (20,400) (9,385)
Other (expense) income, net (Note 2) (1,122) 14,088 (64,658) 31,051
Total other (expense) income, net (10,852) 11,212 (85,058) 21,666
(Loss) income before income taxes (23,402) 2,350 (204,446) 11,799
Provision (benefit) for income taxes 640 3,438 (12,600) 9,006
Net (loss) income (24,042) (1,088) (191,846) 2,793
OTHER COMPREHENSIVE (LOSS) INCOME        
Foreign currency translation adjustment, net of tax of $0, $0, $0, and $0, respectively, for the three and nine months ended September 30, 2024 and three and nine months ended September 30, 2023) 125 (275) (233) (45)
Comprehensive (loss) income $ (23,917) $ (1,363) $ (192,079) $ 2,748
Net (loss) income per share (basic) (in USD per share) $ (0.50) $ (0.02) $ (3.99) $ 0.06
Net (loss) income per share (diluted) (in USD per share) $ (0.50) $ (0.02) $ (3.99) $ 0.06
Weighted average number of shares outstanding (basic) (in shares) 48,127 47,942 48,044 47,721
Weighted average number of shares outstanding (diluted) (in shares) 48,127 47,942 48,044 47,973
Nonrelated Party        
REVENUE        
Total revenue $ 40,015 $ 64,959 $ 134,732 $ 256,710
OTHER INCOME (EXPENSE)        
Interest expense and financing charges, net (8,088) (2,876) (15,730) (9,385)
Related Parties        
REVENUE        
Total revenue 1,000 300 1,200 800
OTHER INCOME (EXPENSE)        
Interest expense and financing charges, net (1,642) 0 (4,670) 0
Services | Nonrelated Party        
REVENUE        
Total revenue 34,069 54,025 119,653 221,140
COST AND EXPENSES        
Cost of revenue 34,468 45,082 107,914 178,905
Services | Related Parties        
REVENUE        
Total revenue 1,037 252 1,171 841
COST AND EXPENSES        
Cost of revenue 118 120 355 360
Products        
REVENUE        
Total revenue 4,909 10,682 13,908 34,729
Products | Nonrelated Party        
COST AND EXPENSES        
Cost of revenue $ 3,386 $ 7,615 $ 14,130 $ 22,796