Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ 4,597 $ (207,326)
Less: Net income (loss) from discontinued operations, net of income taxes 68,353 (24,214)
Net loss from continuing operations (63,756) (183,112)
Adjustments to reconcile net loss from continuing operations to net cash (used in) provided by operating activities:    
Stock based compensation 412 875
Depreciation, depletion, amortization and accretion 10,292 11,715
Amortization of financing origination costs 708 2,971
Change in provision for expected credit losses 49 171,140
Gains on disposal of assets, net (2,371) (2,762)
Gains from sales of equipment damaged or lost down-hole (221) (157)
Impairment of long-lived assets 31,669 0
Inventory obsolescence 0 97
Deferred income taxes (591) 4,237
Other 1,159 63
Changes in assets and liabilities:    
Accounts receivable, net 11,756 206,129
Inventories 116 43
Other current assets 6,200 590
Accounts payable (2,843) (1,643)
Income taxes payable (4,671) (16,743)
Net cash (used in) provided by operating activities from continuing operations (19,575) 194,721
Net cash provided by (used in) operating activities from discontinued operations 1,005 (14,004)
Net cash provided by operating activities (18,570) 180,717
Cash flows from investing activities:    
Purchases of property, plant and equipment (70,552) (1,214)
Contributions to equity investee (368) 0
Proceeds from disposal of property, plant and equipment 7,950 5,061
Purchase of marketable securities (19,534) 0
Net cash (used in) provided by investing activities from continuing operations (82,504) 3,847
Net cash provided by (used in) investing activities from discontinued operations 137,050 (14,279)
Net cash provided by (used in) investing activities 54,546 (10,432)
Cash flows from financing activities:    
Payments on financing transaction 0 (46,837)
Principal payments on financing leases and equipment financing notes (433) (469)
Debt issuance costs 0 (37)
Net cash used in financing activities from continuing operations (433) (98,231)
Net cash used in financing activities from discontinued operations (3,854) (13,882)
Net cash used in financing activities (4,287) (112,113)
Effect of foreign exchange rate on cash 109 (144)
Net increase in cash, cash equivalents and restricted cash 31,798 58,028
Cash, cash equivalents and restricted cash at beginning of period 82,326 24,298
Cash, cash equivalents and restricted cash at end of period 114,124 82,326
Cash, cash equivalents and restricted cash at end of period 114,124 82,326
Cash, cash equivalents and restricted cash of discontinued operations at end of period 52 2,122
Cash, cash equivalents and restricted cash of continuing operations 114,072 80,204
Supplemental disclosure of cash flow information for continuing operations:    
Cash paid for interest 620 6,407
Cash paid for income taxes, net of refunds received 817 1,102
Supplemental disclosure of non-cash transactions for continuing operations:    
Interest paid in kind - related parties 0 5,888
Purchases of property, plant and equipment included in accounts payable and accrued expenses 260 231
Right-of-use assets obtained for financing lease liabilities 0 150
Nonrelated Party    
Changes in assets and liabilities:    
Accrued expenses and other liabilities (7,483) (3,369)
Related Party    
Changes in assets and liabilities:    
Accrued expenses and other liabilities 0 4,647
Cash flows from financing activities:    
Repayments on long-term debt - related parties $ 0 $ (50,888)