Segment Reporting

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Reporting

16. SEGMENT REPORTING

We operate our business in two reportable segments. These complementary segments provide different services and products and utilize different technologies for evaluating and improving reservoir performance and increasing oil and gas recovery from new and existing fields.

• Reservoir Description: Encompasses the characterization of petroleum reservoir rock and reservoir fluids samples to increase production and improve recovery of crude oil and natural gas from our clients' reservoirs. We provide laboratory-based analytical and field services to characterize properties of crude oil and crude oil-derived products to the oil and gas industry. We also provide proprietary and joint industry studies based on these types of analyses and manufacture associated laboratory equipment. In addition, we provide reservoir description capabilities that advance the energy transition, including services that support carbon capture, utilization and storage, hydrogen storage, geothermal projects, and the evaluation and appraisal of mining activities around lithium and other elements necessary for energy storage.

• Production Enhancement: Includes services and manufactured products relating to reservoir well completions, perforations, stimulation and production. We provide integrated diagnostic services to evaluate and monitor the effectiveness of well completions and to develop solutions aimed at increasing the effectiveness of enhanced oil recovery projects.

We use the same accounting policies to prepare our segment results as are used to prepare our consolidated financial statements. All interest and other non-operating income (expense) is attributable to Corporate & Other and is not allocated to specific segments. Summarized financial information concerning our segments is shown in the following table (in thousands):

	Reservoir Description		Production Enhancement		Corporate & Other (1)			Consolidated
Three months ended September 30, 2022
Revenue from unaffiliated clients	$	78,996	$	46,970	$	—		$	125,966
Inter-segment revenue		103		89		(192	)		—
Segment operating income (loss)		9,798		4,417		430			14,645
Total assets (at end of period)		303,102		150,005		117,083			570,190
Capital expenditures		1,590		1,096		16			2,702
Depreciation and amortization		2,872		1,075		224			4,171
Three months ended September 30, 2021
Revenue from unaffiliated clients	$	78,775	$	39,210	$	—		$	117,985
Inter-segment revenue		113		161		(274	)		—
Segment operating income (loss)		4,425		2,779		(564	)		6,640
Total assets (at end of period)		308,251		139,721		138,307			586,279
Capital expenditures		1,727		637		768			3,132
Depreciation and amortization		2,798		1,462		236			4,496
Nine months ended September 30, 2022
Revenue from unaffiliated clients	$	229,567	$	132,597	$	—		$	362,164
Inter-segment revenue		424		183		(607	)		—
Segment operating income (loss)		16,085		8,447		1,374			25,906
Total assets (at end of period)		303,102		150,005		117,083			570,190
Capital expenditures		5,721		1,984		490			8,195
Depreciation and amortization		8,804		3,581		703			13,088
Nine months ended September 30, 2021
Revenue from unaffiliated clients	$	233,512	$	111,601	$	—		$	345,113
Inter-segment revenue		240		238		(478	)		—
Segment operating income (loss)		21,742		8,170		1,150			31,062
Total assets (at end of period)		308,251		139,721		138,307			586,279
Capital expenditures		6,780		1,155		854			8,789
Depreciation and amortization		8,984		4,354		780			14,118

(1) "Corporate & Other" represents those items that are not directly related to a particular segment and eliminations.