Quarterly report pursuant to Section 13 or 15(d)

Reporting Segments (Tables)

v3.22.2
Reporting Segments (Tables)
 6 Months Ended
Jun. 30, 2022
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, 2022 Infrastructure Well Completion Sand Drilling All Other Eliminations Total
Revenue from external customers $ 25,587  $ 43,574  $ 13,841  $ 1,952  $ 4,724  $ —  $ 89,678 
Intersegment revenues —  243  1,618  19  306  (2,186) — 
Total revenue 25,587  43,817  15,459  1,971  5,030  (2,186) 89,678 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 21,808  31,486  9,707  2,034  3,751  —  68,786 
Intersegment cost of revenues 15  1,985  —  160  103  (2,263) — 
Total cost of revenue 21,823  33,471  9,707  2,194  3,854  (2,263) 68,786 
Selling, general and administrative 4,443  1,884  870  277  732  —  8,206 
Depreciation, depletion, amortization and accretion 4,211  6,747  2,058  1,651  2,809  —  17,476 
Operating income (loss) (4,890) 1,715  2,824  (2,151) (2,365) 77  (4,790)
Interest expense, net 1,755  422  178  121  183  —  2,659 
Other (income), net (10,925) (157) (19) —  (1,986) —  (13,087)
Income (loss) before income taxes $ 4,280  $ 1,450  $ 2,665  $ (2,272) $ (562) $ 77  $ 5,638 
Three months ended June 30, 2021 Infrastructure Well Completion Sand Drilling All Other Eliminations Total
Revenue from external customers $ 18,420  $ 17,337  $ 6,886  $ 1,130  $ 3,667  $ —  $ 47,440 
Intersegment revenues —  36  —  17  682  (735) — 
Total revenue 18,420  17,373  6,886  1,147  4,349  (735) 47,440 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 21,062  16,396  7,400  1,568  3,949  —  50,375 
Intersegment cost of revenues 50  666  —  —  19  (735) — 
Total cost of revenue 21,112  17,062  7,400  1,568  3,968  (735) 50,375 
Selling, general and administrative 5,620  1,893  991  395  961  —  9,860 
Depreciation, depletion, amortization and accretion 5,899  6,447  2,387  2,078  3,454  —  20,265 
Operating loss (14,211) (8,029) (3,892) (2,894) (4,034) —  (33,060)
Interest expense, net 664  219  90  58  138  —  1,169 
Other expense (income), net 18,035  1  (53) (126) (736) —  17,121 
Loss before income taxes $ (32,910) $ (8,249) $ (3,929) $ (2,826) $ (3,436) $ —  $ (51,350)
Six months ended June 30, 2022 Infrastructure Well Completion Sand Drilling All Other Eliminations Total
Revenue from external customers $ 48,596  $ 67,202  $ 22,189  $ 4,804  $ 9,185  $ —  $ 151,976 
Intersegment revenues —  489  2,450  22  576  (3,537) — 
Total revenue 48,596  67,691  24,639  4,826  9,761  (3,537) 151,976 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 40,695  53,325  17,495  4,406  7,345  —  123,266 
Intersegment cost of revenues 31  3,016  —  321  172  (3,540) — 
Total cost of revenue 40,726  56,341  17,495  4,727  7,517  (3,540) 123,266 
Selling, general and administrative 9,088  3,923  1,698  569  1,596  —  16,874 
Depreciation, depletion, amortization and accretion 8,525  13,191  3,852  3,331  5,744  —  34,643 
Operating income (loss) (9,743) (5,764) 1,594  (3,801) (5,096) 3  (22,807)
Interest expense, net 3,298  793  340  225  352  —  5,008 
Other (income), net (20,512) (206) (98) —  (1,508) —  (22,324)
Income (loss) before income taxes $ 7,471  $ (6,351) $ 1,352  $ (4,026) $ (3,940) $ 3  $ (5,491)
Six months ended June 30, 2021 Infrastructure Well Completion Sand Drilling All Other Eliminations Total
Revenue from external customers $ 48,619  $ 40,238  $ 15,592  $ 2,049  $ 7,746  $ —  $ 114,244 
Intersegment revenues —  90  —  31  1,322  (1,443) — 
Total revenue 48,619  40,328  15,592  2,080  9,068  (1,443) 114,244 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 48,439  25,399  13,262  3,173  8,182  —  98,455 
Intersegment cost of revenues 95  1,060  —  —  288  (1,443) — 
Total cost of revenue 48,534  26,459  13,262  3,173  8,470  (1,443) 98,455 
Selling, general and administrative 9,359  12,505  3,040  817  2,163  —  27,884 
Depreciation, depletion, amortization and accretion 12,566  13,130  4,527  4,243  6,945  —  41,411 
Operating loss (21,840) (11,766) (5,237) (6,153) (8,510) —  (53,506)
Interest expense, net 1,333  473  183  121  284  —  2,394 
Other (income) expense, net 11,548  440  (847) (135) (493) —  10,513 
Loss before income taxes $ (34,721) $ (12,679) $ (4,573) $ (6,139) $ (8,301) $ —  $ (66,413)

Infrastructure Well Completion Sand Drilling All Other Eliminations Total
As of June 30, 2022:
Total assets $ 433,641  $ 57,172  $ 145,974  $ 25,034  $ 116,421  $ (75,112) $ 703,130 
As of December 31, 2021:
Total assets $ 427,626  $ 56,036  $ 156,519  $ 27,457  $ 129,202  $ (75,948) $ 720,892