Business Segments (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting

The following tables presents selected financial data by business segment:

	Three months ended March 31,
	2024			2023
	(In thousands)
Revenue
Subsea products	$	35,332		$	46,117
Subsea services		24,579			23,896
Well construction		50,386			20,852
Total revenue	$	110,297		$	90,865
Depreciation and amortization
Subsea products	$	1,569		$	1,599
Subsea services		2,247			2,754
Well construction		3,867			1,743
Segment depreciation and amortization		7,683			6,096
Corporate (1)		749			793
Total depreciation and amortization	$	8,432		$	6,889
Operating income (loss)
Subsea products	$	639		$	1,495
Subsea services		1,833			9,384
Well construction		5,632			562
Segment operating income		8,104			11,441
Corporate (1)		(26,906	)		(8,253	)
Total operating income (loss)	$	(18,802	)	$	3,188

(1) Corporate includes the expenses and assets of the Company’s corporate office functions, legal and other administrative expenses that are managed at a consolidated level.