Business Segments (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Schedule of segment reporting information by segment

The following tables present financial information with respect to the Company’s segments. Corporate and Other represents costs not directly associated with a segment, such as interest expense, income taxes and corporate overhead. Corporate assets include cash, deferred financing costs, derivatives and entity-level machinery equipment.

	(Thousands of Dollars)
		Three Months Ended March 31,
		2020			2019
Operations by business segment
Revenue:
Completion Services		$	512,871		$	411,975
WC&I		56,825			9,679
Well Support Services		57,929			—
Total revenue		$	627,625		$	421,654
Adjusted gross profit (loss):
Completion Services(1)		$	97,876		$	85,305
WC&I(1)		8,784			(1,297		)
Well Support Services(1)		12,338			—
Total adjusted gross profit		$	118,998		$	84,008
Operating income (loss):
Completion Services		$	(13,102	)	$	17,967
WC&I		3,011			(2,170		)
Well Support Services		10,940			—
Corporate and Other		(66,702		)	(31,682		)
Total operating income (loss)		$	(65,853	)	$	(15,885	)
Depreciation and amortization:
Completion Services		$	75,540		$	66,747
WC&I		4,273			873
Well Support Services		1,527			—
Corporate and Other		4,481			3,856
Total depreciation and amortization		$	85,821		$	71,476
Net income (loss):
Completion Services		$	(13,102	)	$	17,967
WC&I		3,011			(2,170		)
Well Support Services		10,940			—
Corporate and Other		(72,605		)	(37,603		)
Total net income (loss)		$	(71,756	)	$	(21,806	)

⁽¹⁾  Adjusted gross profit (loss) at the segment level is not considered to be a non-GAAP financial measure as it is the Company's segment measure of profitability and is required to be disclosed under GAAP pursuant to ASC 280. Adjusted gross profit (loss) is defined as revenue less cost of services, further adjusted to eliminate items in cost of services that management does not consider in assessing ongoing performance. 

⁽²⁾  Excludes expenditures for leasehold improvements and finance leases.

	Three Months Ended March 31, 2020
	Completion Services		WC&I		Well Support Services		Total
Revenue	$	512,871	$	56,825	57,929		$	627,625
Cost of Services	417,382		49,253		45,591		512,226
Gross profit excluding depreciation and amortization	95,489		7,572		12,338		115,399
Management adjustments associated with cost of services	2,387		1,212		—		3,599
Adjusted gross profit	$	97,876	$	8,784	$	12,338	$	118,998

	Three Months Ended March 31, 2019
	Completion Services		WC&I			Well Support Services		Total
Revenue	$	411,975	$	9,679		—		$	421,654
Cost of services	326,670		10,976			—		337,646
Gross profit excluding depreciation and amortization	85,305		(1,297		)	—		84,008
Management adjustments associated with cost of services	—		—			—		—
Adjusted gross profit	$	85,305	$	(1,297	)	$	—	$	84,008

	(Thousands of Dollars)
	March 31, 2020		December 31, 2019
Total assets by segment:
Completion Services	$	1,063,975	$	1,091,965
WC&I	106,347		106,493
Well Support Services	—		109,792
Corporate and Other	616,537		356,657
Total assets	$	1,786,859	$	1,664,907
Goodwill by segment:
Completion Services	$	104,198	$	136,425
WC&I	—		372
Well Support Services	—		661
Corporate and Other	—		—
Total goodwill	$	104,198	$	137,458