Quarterly report pursuant to Section 13 or 15(d)

Reporting Segments (Tables)

v3.23.2
Reporting Segments (Tables)
 6 Months Ended
Jun. 30, 2023
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, 2023 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 27,466  $ 28,315  $ 11,567  $ 3,329  $ 4,754  $ —  $ 75,431 
Intersegment revenues 118  —  —  6  365  (489) — 
Total revenue 27,584  28,315  11,567  3,335  5,119  (489) 75,431 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 23,594  23,292  7,067  2,725  3,574  —  60,252 
Intersegment cost of revenues 227  9  —  108  145  (489) — 
Total cost of revenue 23,821  23,301  7,067  2,833  3,719  (489) 60,252 
Selling, general and administrative 1,776  6,385  954  337  905  —  10,357 
Depreciation, depletion, amortization and accretion 4,500  2,436  2,374  1,284  2,056  —  12,650 
Gains on disposal of assets, net —  —  —  —  (473) —  (473)
Operating (loss) income (2,513) (3,807) 1,172  (1,119) (1,088) —  (7,355)
Interest expense, net 824  1,869  149  170  208  —  3,220 
Other expense (income), net 1  (8,557) (4) —  221  —  (8,339)
(Loss) income before income taxes $ (3,338) $ 2,881  $ 1,027  $ (1,289) $ (1,517) $ —  $ (2,236)
Three months ended June 30, 2022 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 43,574  $ 25,587  $ 13,841  $ 1,952  $ 4,724  $ —  $ 89,678 
Intersegment revenues 243  —  1,618  19  306  (2,186) — 
Total revenue 43,817  25,587  15,459  1,971  5,030  (2,186) 89,678 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 31,486  21,808  9,707  2,034  3,751  —  68,786 
Intersegment cost of revenues 1,985  15  —  160  103  (2,263) — 
Total cost of revenue 33,471  21,823  9,707  2,194  3,854  (2,263) 68,786 
Selling, general and administrative 1,884  4,443  870  277  732  —  8,206 
Depreciation, depletion, amortization and accretion 6,747  4,211  2,058  1,651  2,809  —  17,476 
Gains on disposal of assets, net (157) (863) (16) —  (1,907) —  (2,943)
Operating income (loss) 1,872  (4,027) 2,840  (2,151) (458) 77  (1,847)
Interest expense, net 422  1,755  178  121  183  —  2,659 
Other income, net —  (10,062) (3) —  (79) —  (10,144)
Income (loss) before income taxes $ 1,450  $ 4,280  $ 2,665  $ (2,272) $ (562) $ 77  $ 5,638 
Six months ended June 30, 2023 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 94,644  $ 56,596  $ 24,009  $ 5,153  $ 11,349  $ —  $ 191,751 
Intersegment revenues 240  —  25  7  801  (1,073) — 
Total revenue 94,884  56,596  24,034  5,160  12,150  (1,073) 191,751 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 75,630  45,768  14,927  4,648  8,271  —  149,244 
Intersegment cost of revenues 704  20  —  217  132  (1,073) — 
Total cost of revenue 76,334  45,788  14,927  4,865  8,403  (1,073) 149,244 
Selling, general and administrative 4,268  10,595  1,458  650  1,769  —  18,740 
Depreciation, depletion, amortization and accretion 9,317  5,810  3,561  2,651  4,267  —  25,606 
Gains on disposal of assets, net —  (127) (16) —  (691) —  (834)
Operating income (loss) 4,965  (5,470) 4,104  (3,006) (1,598) —  (1,005)
Interest expense, net 1,753  3,714  305  330  407  —  6,509 
Other expense (income), net 1  (17,365) (6) —  407  —  (16,963)
Income (loss) before income taxes $ 3,211  $ 8,181  $ 3,805  $ (3,336) $ (2,412) $ —  $ 9,449 
Six months ended June 30, 2022 Well Completion Infrastructure Sand Drilling All Other Eliminations Total
Revenue from external customers $ 67,202  $ 48,596  $ 22,189  $ 4,804  $ 9,185  $ —  $ 151,976 
Intersegment revenues 489  —  2,450  22  576  (3,537) — 
Total revenue 67,691  48,596  24,639  4,826  9,761  (3,537) 151,976 
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion 53,325  40,695  17,495  4,406  7,345  —  123,266 
Intersegment cost of revenues 3,016  31  —  321  172  (3,540) — 
Total cost of revenue 56,341  40,726  17,495  4,727  7,517  (3,540) 123,266 
Selling, general and administrative 3,923  9,088  1,698  569  1,596  —  16,874 
Depreciation, depletion, amortization and accretion 13,191  8,525  3,852  3,331  5,744  —  34,643 
Gains on disposal of assets, net (206) (868) (91) —  (1,974) —  (3,139)
Operating (loss) income (5,558) (8,875) 1,685  (3,801) (3,122) 3  (19,668)
Interest expense, net 793  3,298  340  225  352  —  5,008 
Other (income) expense, net —  (19,644) (7) —  466  —  (19,185)
(Loss) income before income taxes $ (6,351) $ 7,471  $ 1,352  $ (4,026) $ (3,940) $ 3  $ (5,491)

Well Completion Infrastructure Sand Drilling All Other Eliminations Total
As of June 30, 2023:
Total assets $ 64,766  $ 453,656  $ 129,609  $ 18,916  $ 84,772  $ (58,956) $ 692,763 
As of December 31, 2022:
Total assets $ 82,897  $ 450,841  $ 129,467  $ 21,755  $ 120,164  $ (80,446) $ 724,678