Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:          
Net (loss) income $ (24,042) $ (1,088) $ (191,846) $ 2,793  
Adjustments to reconcile net (loss) income to cash provided by operating activities:          
Stock based compensation     657 1,127  
Depreciation, depletion, accretion and amortization     19,256 36,839  
Amortization of debt origination costs     1,076 565  
Change in provision for expected credit losses     171,108 (414)  
Gains on disposal of assets     (2,496) (3,284)  
Gains from sales of equipment damaged or lost down-hole     (160) (335)  
Impairment of goodwill 0 1,810 0 1,810 $ 1,810
Gain on sale of business     0 (2,080)  
Deferred income taxes     3,488 (70)  
Other     724 (273)  
Changes in assets and liabilities:          
Accounts receivable, net     43,107 1,445  
Inventories     (845) (2,896)  
Prepaid expenses and other assets     9,252 8,990  
Accounts payable     1,938 (7,537)  
Income taxes payable     (16,809) 7,950  
Net cash provided by operating activities     39,301 24,951  
Cash flows from investing activities:          
Purchases of property and equipment     (10,967) (15,265)  
Business divestitures, net of cash transferred     0 3,276  
Proceeds from disposal of property and equipment     5,047 4,304  
Net cash used in investing activities     (5,920) (7,685)  
Cash flows from financing activities:          
Borrowings on long-term debt     0 168,800  
Repayments of long-term debt     0 (183,291)  
Payments on financing transaction (Note 9)     (46,837) 0  
Payments on sale leaseback transaction     (3,206) (3,711)  
Principal payments on financing leases and equipment financing notes     (1,403) (4,872)  
Debt issuance costs     (37) 0  
Other     0 (919)  
Net cash used in financing activities     (51,483) (23,993)  
Effect of foreign exchange rate on cash     (31) (28)  
Net decrease in cash, cash equivalents and restricted cash     (18,133) (6,755)  
Cash, cash equivalents and restricted cash at beginning of period     24,298 17,282 17,282
Cash, cash equivalents and restricted cash at end of period 6,165 10,527 6,165 10,527 $ 24,298
Supplemental disclosure of cash flow information:          
Cash paid for interest     2,096 8,951  
Cash paid for income taxes, net of refunds received     716 788  
Supplemental disclosure of non-cash transactions:          
Purchases of property and equipment included in accounts payable and accrued expenses     3,964 4,197  
Right-of-use assets obtained for financing lease liabilities $ 1,602 $ 201 2,971 507  
Nonrelated Party          
Changes in assets and liabilities:          
Accrued expenses and other liabilities     (3,796) (19,679)  
Related Parties          
Changes in assets and liabilities:          
Accrued expenses and other liabilities     4,647 0  
Supplemental disclosure of non-cash transactions:          
Interest paid in kind - related parties     $ 5,888 $ 0