Risk Concentrations

9 Months Ended

Sep. 30, 2020

Risk Concentrations

Risk Concentrations

Note 9 — Risk Concentrations

Customer Concentrations 

For the three months ended September 30, 2020, two customers, EOG Resources and Concho Resources, Inc., accounted for 24% and 16%, respectively, of the Company’s consolidated revenues. For the nine months ended September 30, 2020, the same two customers accounted for 20% and 18% of the Company’s consolidated revenues, respectively. As of September 30, 2020, approximately 27% of the net accounts receivable balance was due from these customers.

For the three months ended September 30, 2019, two customers, EOG Resources and Concho Resources, Inc., accounted for 19% and 14%, respectively, of the Company’s consolidated revenues. For the nine months ended September 30, 2019, the same two customers accounted for 17% and 13%, respectively, of the Company’s consolidated revenues. As of September 30, 2019, approximately 25% of the accounts receivable balance was due from these customers.