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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue        
Total revenue $ 153.0 $ 164.4 $ 428.0 $ 485.1
Cost of services (exclusive of depreciation and amortization):        
Total cost of services 122.0 134.8 356.0 402.0
General and administrative 7.1 7.0 20.7 22.7
Depreciation and amortization 11.1 10.6 33.3 29.3
Impairment of fixed assets 0.0 0.4 0.0 0.4
Gain on sale of assets (0.1) (0.1) (1.7) (1.6)
Total operating expenses 140.1 152.7 408.3 452.8
Operating income 12.9 11.7 19.7 32.3
Other expenses        
Interest expense, net 0.7 0.7 2.1 2.8
Loss on debt retirement 0.0 0.0 0.0 2.4
Total other expenses 0.7 0.7 2.1 5.2
Income before income tax expense 12.2 11.0 17.6 27.1
Income tax expense 3.5 1.6 5.0 5.4
Net income (loss) $ 8.7 $ 9.4 $ 12.6 $ 21.7
Income per common share        
Basic (in dollars per share) $ 0.39 $ 0.38 $ 0.56 $ 0.88
Diluted (in dollars per share) $ 0.39 $ 0.38 $ 0.55 $ 0.86
Weighted average common shares outstanding        
Basic (in shares) 22,241,847 24,500,607 22,608,796 24,758,890
Diluted (in shares) 22,494,453 24,887,275 22,731,259 25,149,415
High specification rigs        
Revenue        
Total revenue $ 86.7 $ 79.2 $ 249.1 $ 234.3
Cost of services (exclusive of depreciation and amortization):        
Total cost of services 67.2 63.5 198.8 185.6
Wireline services        
Revenue        
Total revenue 30.3 53.2 87.6 157.6
Cost of services (exclusive of depreciation and amortization):        
Total cost of services 27.6 45.8 84.4 140.3
Processing solutions and ancillary services        
Revenue        
Total revenue 36.0 32.0 91.3 93.2
Cost of services (exclusive of depreciation and amortization):        
Total cost of services $ 27.2 $ 25.5 $ 72.8 $ 76.1