Quarterly report pursuant to Section 13 or 15(d)

Reporting Segments (Tables)

v3.22.2.2
Reporting Segments (Tables)
 9 Months Ended
Sep. 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 September 30, 2022 Infrastructure Well Completion Sand Drilling All Other Eliminations Total
Revenue from external customers $ 33,296  $ 51,378  $ 12,910  $ 3,118  $ 6,500  $ —  $ 107,202 
Intersegment revenues —  154  —  —  468  (622) — 
Total revenue 33,296  51,532  12,910  3,118  6,968  (622) 107,202 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 26,495  35,414  9,206  2,695  4,646  —  78,456 
Intersegment cost of revenues 17  403  —  109  93  (622) — 
Total cost of revenue 26,512  35,817  9,206  2,804  4,739  (622) 78,456 
Selling, general and administrative 4,968  2,390  1,076  305  946  —  9,685 
Depreciation, depletion, amortization and accretion 3,969  4,772  2,865  1,598  2,638  —  15,842 
Loss (gain) on disposal of assets 73  (339) —  (286) (47) —  (599)
Operating (loss) income (2,226) 8,892  (237) (1,303) (1,308) —  3,818 
Interest expense, net 2,047  531  212  154  318  —  3,262 
Other (income), net (10,304) (345) (3) —  (337) —  (10,989)
Income (loss) before income taxes $ 6,031  $ 8,706  $ (446) $ (1,457) $ (1,289) $ —  $ 11,545 
Three months ended September 30, 2021 Infrastructure Well Completion Sand Drilling All Other Eliminations Total
Revenue from external customers $ 25,070  $ 22,702  $ 4,439  $ 1,184  $ 4,090  $ —  $ 57,485 
Intersegment revenues —  30  3,980  23  482  (4,515) — 
Total revenue 25,070  22,732  8,419  1,207  4,572  (4,515) 57,485 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 21,827  16,941  9,368  1,566  3,882  —  53,584 
Intersegment cost of revenues 71  4,388  —  —  56  (4,515) — 
Total cost of revenue 21,898  21,329  9,368  1,566  3,938  (4,515) 53,584 
Selling, general and administrative 4,542  34,606  1,068  288  925  —  41,429 
Depreciation, depletion, amortization and accretion 4,933  6,538  2,533  1,942  3,202  —  19,148 
Loss (gain) on disposal of assets 33  (573) (21) (66) (2,406) —  (3,033)
Impairment of other long-lived assets —  —  —  —  547  —  547 
Operating loss (6,336) (39,168) (4,529) (2,523) (1,634) —  (54,190)
Interest expense, net 979  215  107  56  127  —  1,484 
Other expense (income), net (8,852) 1,328  (25) —  (37) —  (7,586)
Income (loss) before income taxes $ 1,537  $ (40,711) $ (4,611) $ (2,579) $ (1,724) $ —  $ (48,088)
Nine months ended September 30, 2022 Infrastructure Well Completion Sand Drilling All Other Eliminations Total
Revenue from external customers $ 81,892  $ 118,580  $ 35,098  $ 7,922  $ 15,686  $ —  $ 259,178 
Intersegment revenues —  643  2,450  22  1,044  (4,159) — 
Total revenue 81,892  119,223  37,548  7,944  16,730  (4,159) 259,178 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 67,190  88,740  26,701  7,100  11,991  —  201,722 
Intersegment cost of revenues 49  3,419  —  430  265  (4,163) — 
Total cost of revenue 67,239  92,159  26,701  7,530  12,256  (4,163) 201,722 
Selling, general and administrative 14,056  6,314  2,774  874  2,542  —  26,560 
Depreciation, depletion, amortization and accretion 12,495  17,963  6,717  4,929  8,381  —  50,485 
Gain on disposal of assets (795) (547) (90) (286) (2,020) —  (3,738)
Operating income (loss) (11,103) 3,334  1,446  (5,103) (4,429) 4  (15,851)
Interest expense, net 5,345  1,324  552  379  670  —  8,270 
Other (income) expense, net (29,948) (345) (10) —  128  —  (30,175)
Income (loss) before income taxes $ 13,500  $ 2,355  $ 904  $ (5,482) $ (5,227) $ 4  $ 6,054 
Nine months ended September 30, 2021 Infrastructure Well Completion Sand Drilling All Other Eliminations Total
Revenue from external customers $ 73,690  $ 62,939  $ 20,031  $ 3,234  $ 11,836  $ —  $ 171,730 
Intersegment revenues —  120  3,980  54  1,804  (5,958) — 
Total revenue 73,690  63,059  24,011  3,288  13,640  (5,958) 171,730 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 70,267  42,339  22,631  4,739  12,063  —  152,039 
Intersegment cost of revenues 165  5,449  —  —  344  (5,958) — 
Total cost of revenue 70,432  47,788  22,631  4,739  12,407  (5,958) 152,039 
Selling, general and administrative 13,900  47,111  4,108  1,105  3,089  —  69,313 
Depreciation, depletion, amortization and accretion 17,501  19,668  7,059  6,185  10,146  —  60,559 
Gain on disposal of assets (255) (648) (41) (192) (3,496) —  (4,632)
Impairment of other long-lived assets —  —  —  —  547  —  547 
Operating loss (27,888) (50,860) (9,746) (8,549) (9,053) —  (106,096)
Interest expense, net 2,312  688  291  177  410  —  3,878 
Other (income) expense, net 2,983  1,844  (851) (9) 560  —  4,527 
Loss before income taxes $ (33,183) $ (53,392) $ (9,186) $ (8,717) $ (10,023) $ —  $ (114,501)

Infrastructure Well Completion Sand Drilling All Other Eliminations Total
As of September 30, 2022:
Total assets $ 445,143  $ 67,239  $ 145,567  $ 24,299  $ 120,025  $ (88,935) $ 713,338 
As of December 31, 2021:
Total assets $ 427,626  $ 56,036  $ 156,519  $ 27,457  $ 129,202  $ (75,948) $ 720,892