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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue        
Total revenue $ 128.9 $ 153.0 $ 404.7 $ 428.0
Cost of services (exclusive of depreciation and amortization):        
Total cost of services 109.1 122.0 339.5 356.0
General and administrative 6.6 7.1 20.7 20.7
Depreciation and amortization 11.0 11.1 32.5 33.3
Impairment of assets 0.0 0.0 0.4 0.0
Gain on sale of assets (0.4) (0.1) (0.6) (1.7)
Total operating expenses 126.3 140.1 392.5 408.3
Operating income 2.6 12.9 12.2 19.7
Other income and expenses        
Interest expense, net 0.4 0.7 1.0 2.1
Other income, net (0.3) 0.0 (1.9) 0.0
Total other expenses (income), net 0.1 0.7 (0.9) 2.1
Income before income tax expense 2.5 12.2 13.1 17.6
Income tax expense 1.3 3.5 4.0 5.0
Net income $ 1.2 $ 8.7 $ 9.1 $ 12.6
Income per common share        
Basic (in dollars per share) $ 0.06 $ 0.39 $ 0.41 $ 0.56
Diluted (in dollars per share) $ 0.05 $ 0.39 $ 0.40 $ 0.55
Weighted average common shares outstanding        
Basic (in shares) 21,769,012 22,241,847 22,208,218 22,608,796
Diluted (in shares) 22,082,764 22,494,453 22,520,080 22,731,259
High Specification Rigs        
Revenue        
Total revenue $ 80.9 $ 86.7 $ 254.7 $ 249.1
Cost of services (exclusive of depreciation and amortization):        
Total cost of services 65.2 67.2 204.0 198.8
Wireline Services        
Revenue        
Total revenue 17.2 30.3 56.5 87.6
Cost of services (exclusive of depreciation and amortization):        
Total cost of services 18.6 27.6 59.6 84.4
Processing Solutions and Ancillary Services        
Revenue        
Total revenue 30.8 36.0 93.5 91.3
Cost of services (exclusive of depreciation and amortization):        
Total cost of services $ 25.3 $ 27.2 $ 75.9 $ 72.8