| Schedule of Segment Reporting Information, by Segment |
The following table sets forth certain financial information with respect to the Company’s reportable segments:
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Completion and Production |
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Year Ended December 31, 2016 |
Pressure Pumping |
Well Services |
Sand |
Drilling |
Other Energy Services |
Total |
Revenue from external customers |
$ |
21,446,803 |
|
$ |
9,157,042 |
|
$ |
5,433,141 |
|
$ |
28,177,737 |
|
$ |
30,861,317 |
|
$ |
95,076,040 |
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Revenue from related parties |
$ |
102,861,423 |
|
$ |
867,771 |
|
$ |
28,323,303 |
|
$ |
3,864,772 |
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$ |
5,412 |
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$ |
135,922,681 |
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Cost of revenue |
$ |
86,808,742 |
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$ |
13,540,309 |
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$ |
28,166,829 |
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$ |
31,847,969 |
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$ |
13,186,060 |
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$ |
173,549,909 |
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Selling, general and administrative expenses |
$ |
4,327,599 |
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$ |
2,336,002 |
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$ |
2,019,641 |
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$ |
5,624,705 |
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$ |
2,423,028 |
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$ |
16,730,975 |
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Earnings before interest, other expense (income), impairment, taxes and depreciation and amortization |
$ |
33,171,885 |
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$ |
(5,851,498 |
) |
$ |
3,569,974 |
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$ |
(5,430,165 |
) |
$ |
15,257,641 |
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$ |
40,717,837 |
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Other expense (income) |
$ |
26,743 |
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$ |
(565,966 |
) |
$ |
2,321 |
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$ |
247,620 |
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$ |
37,043 |
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$ |
(252,239 |
) |
Interest expense |
$ |
599,147 |
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$ |
134,007 |
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$ |
49,518 |
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$ |
2,828,753 |
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$ |
100,032 |
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$ |
3,711,457 |
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Depreciation and amortization |
$ |
37,012,902 |
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$ |
5,127,879 |
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$ |
4,078,844 |
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$ |
21,512,117 |
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$ |
2,179,116 |
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$ |
69,910,858 |
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Impairment of long-lived assets |
$ |
138,587 |
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$ |
1,384,751 |
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$ |
— |
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$ |
347,547 |
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$ |
— |
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$ |
1,870,885 |
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Loss (income) before income taxes |
$ |
(4,605,494 |
) |
$ |
(11,932,169 |
) |
$ |
(560,709 |
) |
$ |
(30,366,202 |
) |
$ |
12,941,450 |
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$ |
(34,523,124 |
) |
Provision (benefit) for income taxes |
$ |
— |
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$ |
50,265,203 |
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$ |
3,716 |
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$ |
— |
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$ |
3,615,952 |
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$ |
53,884,871 |
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Net income (loss) |
$ |
(4,605,494 |
) |
$ |
(62,197,372 |
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$ |
(564,425 |
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$ |
(30,366,202 |
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$ |
9,325,498 |
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$ |
(88,407,995 |
) |
Total expenditures for property, plant and equipment |
$ |
7,673,187 |
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$ |
404,612 |
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$ |
106,252 |
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$ |
2,709,478 |
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$ |
424,380 |
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$ |
11,317,909 |
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Goodwill |
$ |
86,043,148 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
86,043,148 |
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Intangible assets, net |
$ |
21,435,058 |
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$ |
131,771 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
21,566,829 |
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Total assets |
$ |
195,521,027 |
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$ |
66,043,726 |
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$ |
26,517,973 |
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$ |
99,867,691 |
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$ |
32,603,418 |
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$ |
420,553,835 |
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Completion and Production |
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Year Ended December 31, 2015 |
Pressure Pumping |
Well Services |
Sand |
Drilling |
Other Energy Services |
Total |
Revenue from external customers |
$ |
45,538,393 |
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$ |
26,134,568 |
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$ |
14,272,981 |
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$ |
68,457,719 |
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$ |
34,340,821 |
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$ |
188,744,482 |
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Revenue from related parties |
$ |
124,442,293 |
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$ |
2,716,773 |
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$ |
38,517,222 |
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$ |
4,574,370 |
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$ |
941,553 |
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$ |
171,192,211 |
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Cost of revenue |
$ |
131,717,344 |
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$ |
28,144,431 |
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$ |
43,890,437 |
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$ |
57,489,608 |
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$ |
15,105,497 |
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$ |
276,347,317 |
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Selling, general and administrative expenses |
$ |
4,901,459 |
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$ |
2,285,684 |
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$ |
2,405,350 |
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$ |
8,573,174 |
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$ |
2,375,881 |
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$ |
20,541,548 |
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Earnings before interest, other expense, impairment, taxes and depreciation and amortization |
$ |
33,361,883 |
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$ |
(1,578,774 |
) |
$ |
6,494,416 |
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$ |
6,969,307 |
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$ |
17,800,996 |
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$ |
63,047,828 |
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Other expense (income) |
$ |
66,889 |
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$ |
686,617 |
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$ |
(88,976 |
) |
$ |
1,121,093 |
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$ |
372,141 |
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$ |
2,157,764 |
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Interest expense |
$ |
1,859,195 |
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$ |
429,061 |
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$ |
51,476 |
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$ |
2,890,130 |
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$ |
60,959 |
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$ |
5,290,821 |
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Interest income |
$ |
— |
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$ |
— |
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$ |
98,056 |
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$ |
— |
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$ |
436 |
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$ |
98,492 |
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Depreciation and amortization |
$ |
35,728,715 |
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$ |
5,696,547 |
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$ |
4,200,809 |
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$ |
24,626,705 |
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$ |
2,141,106 |
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$ |
72,393,882 |
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Impairment of long-lived assets |
$ |
1,213,885 |
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$ |
88,247 |
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$ |
1,904,981 |
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$ |
8,917,240 |
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$ |
— |
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$ |
12,124,353 |
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Loss (income) before income taxes |
$ |
(5,506,801 |
) |
$ |
(8,479,246 |
) |
$ |
524,182 |
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$ |
(30,585,861 |
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$ |
15,227,226 |
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$ |
(28,820,500 |
) |
Provision (benefit) for income taxes |
$ |
72,435 |
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$ |
4,454 |
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$ |
— |
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$ |
(184,523 |
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$ |
(1,481,452 |
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$ |
(1,589,086 |
) |
Net income (loss) |
$ |
(5,579,236 |
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$ |
(8,483,700 |
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$ |
524,182 |
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$ |
(30,401,338 |
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$ |
16,708,678 |
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$ |
(27,231,414 |
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Total expenditures for property, plant and equipment |
$ |
4,169,678 |
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$ |
6,768,143 |
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$ |
171,202 |
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$ |
12,650,831 |
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$ |
2,491,821 |
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$ |
26,251,675 |
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Goodwill |
$ |
86,043,148 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
86,043,148 |
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Intangible assets, net |
$ |
30,478,558 |
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$ |
159,271 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
30,637,829 |
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Total assets |
$ |
226,690,841 |
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$ |
41,481,415 |
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$ |
32,726,899 |
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$ |
118,227,357 |
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$ |
31,859,058 |
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$ |
450,985,570 |
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Completion and Production |
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Year Ended December 31, 2014 |
Pressure Pumping |
Well Services |
Sand |
Drilling |
Other Energy Services |
Total |
Revenue from external customers |
$ |
12,144,538 |
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$ |
43,732,782 |
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$ |
36,859,731 |
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$ |
109,295,518 |
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$ |
17,168,471 |
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$ |
219,201,040 |
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Revenue from related parties |
$ |
12,635,148 |
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$ |
1,520,310 |
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$ |
9,490,543 |
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$ |
12,869,425 |
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$ |
3,809,538 |
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$ |
40,324,964 |
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Cost of revenue |
$ |
17,293,057 |
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$ |
31,715,681 |
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$ |
38,815,543 |
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$ |
93,571,050 |
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$ |
9,673,570 |
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$ |
191,068,901 |
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Selling, general and administrative expenses |
$ |
1,409,618 |
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$ |
2,339,024 |
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$ |
2,178,867 |
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$ |
9,763,922 |
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$ |
1,336,432 |
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$ |
17,027,863 |
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Earnings before interest, other expense, impairment, taxes and depreciation and amortization |
$ |
6,077,011 |
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$ |
11,198,387 |
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$ |
5,355,864 |
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$ |
18,829,971 |
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$ |
9,968,007 |
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$ |
51,429,240 |
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Other expense |
$ |
1,744,695 |
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$ |
777,382 |
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$ |
1,099,284 |
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$ |
1,539,279 |
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$ |
563,856 |
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$ |
5,724,496 |
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Interest expense |
$ |
386,618 |
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$ |
831,508 |
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$ |
127,988 |
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$ |
3,194,061 |
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$ |
63,420 |
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$ |
4,603,595 |
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Interest expense from related parties |
$ |
— |
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$ |
— |
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$ |
184,479 |
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$ |
— |
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$ |
— |
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$ |
184,479 |
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Interest income |
$ |
— |
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$ |
— |
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$ |
208,519 |
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$ |
— |
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$ |
5,622 |
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$ |
214,141 |
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Depreciation and amortization |
$ |
4,015,572 |
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$ |
4,768,024 |
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$ |
3,867,024 |
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$ |
21,319,617 |
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$ |
1,656,928 |
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$ |
35,627,165 |
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Loss (income) before income taxes |
$ |
(69,874 |
) |
$ |
4,821,473 |
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$ |
285,608 |
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$ |
(7,222,986 |
) |
$ |
7,689,425 |
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$ |
5,503,646 |
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Provision (benefit) for income taxes |
$ |
10,897 |
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$ |
18,226 |
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$ |
4,826 |
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$ |
77,576 |
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$ |
7,402,669 |
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$ |
7,514,194 |
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Net income (loss) |
$ |
(80,771 |
) |
$ |
4,803,247 |
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$ |
280,782 |
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$ |
(7,300,562 |
) |
$ |
286,756 |
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$ |
(2,010,548 |
) |
Total expenditures for property, plant and equipment |
$ |
180,466 |
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$ |
11,441,285 |
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$ |
4,587,464 |
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$ |
85,801,345 |
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$ |
9,679,496 |
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$ |
111,690,056 |
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Goodwill |
$ |
86,131,395 |
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$ |
— |
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$ |
— |
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$ |
— |
|
$ |
— |
|
$ |
86,131,395 |
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Intangible assets, net |
$ |
39,809,101 |
|
$ |
186,770 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
39,995,871 |
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Total assets |
$ |
275,859,470 |
|
$ |
39,977,056 |
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$ |
40,734,019 |
|
$ |
185,218,626 |
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$ |
38,925,705 |
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$ |
580,714,876 |
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