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Industry Segments

3 Months Ended

Mar. 31, 2013

Notes to Financial Statements [Abstract]

NOTE H - INDUSTRY SEGMENTS

We manage our operations through five operating segments: Fluids, Production Testing, Compressco, Offshore Services, and Maritech.

Our Fluids Division manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States and in certain countries in Latin America, Europe, Asia, the Middle East, and Africa. The Division also markets liquid and dry calcium chloride products manufactured at its production facilities or purchased from third-party suppliers to a variety of markets outside the energy industry. The Fluids Division also provides domestic onshore oil and gas operators with comprehensive frac water management services.

Our Production Enhancement Division consists of two operating segments: Production Testing and Compressco. The Production Testing segment provides after-frac flow back, production well testing, offshore rig cooling, and other associated services in many of the major oil and gas basins in the United States, Mexico, Canada, as well as in certain basins in certain regions in South America, Africa, Europe, the Middle East, and Australia.

The Compressco segment provides compression-based production enhancement services, which are used in both conventional wellhead compression applications and unconventional compression applications, and in certain circumstances, well monitoring and sand separation services. Compressco provides these services throughout many of the onshore oil and gas producing regions of the United States, as well as certain basins in Mexico, Canada, and certain countries in South America, Eastern Europe, and the Asia-Pacific region. Beginning June 20, 2011, following the initial public offering of Compressco Partners, L.P. (Compressco Partners), we allocate and charge certain corporate and divisional direct and indirect administrative costs to Compressco Partners.

Our Offshore Division consists of two operating segments: Offshore Services and Maritech. The Offshore Services segment provides (1) downhole and subsea oil and gas well plugging and abandonment services, (2) decommissioning and certain construction services utilizing heavy lift barges and various cutting technologies with regard to offshore oil and gas production platforms and pipelines, and (3) conventional and saturated air diving services.

The Maritech segment is an oil and gas production operation. During 2011 and the first quarter of 2012, Maritech sold substantially all of its oil and gas producing property interests. Maritech's operations consist primarily of the ongoing abandonment and decommissioning associated with its remaining offshore wells, facilities, and production platforms. Maritech intends to acquire a significant portion of these services from the Offshore Division's Offshore Services segment.

We generally evaluate the performance of and allocate resources to our segments based on profit or loss from their operations before income taxes and nonrecurring charges, return on investment, and other criteria. Transfers between segments and geographic areas are priced at the estimated fair value of the products or services as negotiated between the operating units. “Corporate overhead” includes corporate general and administrative expenses, corporate depreciation and amortization, interest income and expense, and other income and expense.

Summarized financial information concerning the business segments from continuing operations is as follows:

	Three Months Ended
	^{March 31,}
	²⁰¹³		²⁰¹²
	^{(In Thousands)}
^{Revenues from external customers}
^{Product sales}
^{Fluids Division}	^$	^69,161	^$	^61,532
^{Production Enhancement Division}
^{Production Testing}		^-		^-
^Compressco		^1,088		^1,162
^{Total Production Enhancement Division}		^1,088		^1,162
^{Offshore Division}
^{Offshore Services}		¹²⁹		^1,995
^Maritech		^1,160		^2,540
^{Total Offshore Division}		^1,289		^4,535
^Consolidated	^$	^71,538	^$	^67,229

	Three Months Ended
	March 31,
	²⁰¹³			2012
	(In Thousands)
^{Services and rentals}
^{Fluids Division}	^$	^24,831		^$	^17,776
^{Production Enhancement Division}
^{Production Testing}		^54,607			^38,283
^Compressco		^29,737			^21,520
^{Intersegment eliminations}		(280	)		^-
^{Total Production Enhancement Division}		^84,064			^59,803
^{Offshore Division}
^{Offshore Services}		^37,520			^43,100
^Maritech		^-			⁷⁵
^{Intersegment eliminations}		(9,394	)		(7,312	)
^{Total Offshore Division}		^28,126			^35,863
^{Corporate overhead}		^-			¹²⁵
^Consolidated	^$	^137,021		^$	^113,567

^{Intersegment revenues}
^{Fluids Division}	^$	⁴⁸		^$	²⁵
^{Production Enhancement Division}
^{Production Testing}		^-			^-
^Compressco		^-			^-
^{Total Production Enhancement Division}		^-			^-
^{Offshore Division}
^{Offshore Services}		^-			^-
^Maritech		^-			^-
^{Intersegment eliminations}		^-			^-
^{Total Offshore Division}		^-			^-
^{Intersegment eliminations}		(48	)		(25	)
^Consolidated	^$	^-		^$	^-

^{Total revenues}
^{Fluids Division}	^$	^94,040		^$	^79,333
^{Production Enhancement Division}
^{Production Testing}		^54,607			^38,283
^Compressco		^30,825			^22,682
^{Intersegment eliminations}		(280	)		^-
^{Total Production Enhancement Division}		^85,152			^60,965
^{Offshore Division}
^{Offshore Services}		^37,649			^45,095
^Maritech		^1,160			^2,615
^{Intersegment eliminations}		(9,394	)		(7,312	)
^{Total Offshore Division}		^29,415			^40,398
^{Corporate overhead}		^-			¹²⁵
^{Intersegment eliminations}		(48	)		(25	)
^Consolidated	^$	^208,559		^$	^180,796

	^{Three Months Ended}
	^{March 31,}
	²⁰¹³				²⁰¹²
	^{(In Thousands)}
^{Income (loss) before taxes and}
^{discontinued operations}
^{Fluids Division}	^$	^17,005			^$	^11,465
^{Production Enhancement Division}
^{Production Testing}		^6,298				^5,677
^Compressco		^5,225				^3,510
^{Total Production Enhancement Division}		^11,523				^9,187
^{Offshore Division}
^{Offshore Services}		(5,203	)			(1,033	)
^Maritech		(4,908	)			(2,081	)
^{Intersegment eliminations}		^-				^-
^{Total Offshore Division}		(10,111	)			(3,114	)
^{Corporate overhead}		(15,206	)	(1	)	(15,786	)	(1	)
^Consolidated	^$	^3,211			^$	^1,752

	^{March 31,}
	²⁰¹³		²⁰¹²
	^{(In Thousands)}
^{Total assets}
^{Fluids Division}	^$	^391,229	^$	^382,321
^{Production Enhancement Division}
^{Production Testing}		^321,788		^215,026
^Compressco		^231,840		^206,932
^{Total Production Enhancement Division}		^553,628		^421,958
^{Offshore Division}
^{Offshore Services}		^180,505		^208,108
^Maritech		^63,992		^60,711
^{Intersegment eliminations}		^-		^-
^{Total Offshore Division}		^244,497		^268,819
^{Corporate overhead}		^10,683		^146,148
^Consolidated	^$	^1,200,037	^$	^1,219,246

)

	^{Three Months Ended March 31,}
	²⁰¹³		²⁰¹²
	^{(In Thousands)}

^{General and administrative expense}	^$	^9,911	^$	^9,912
^{Depreciation and amortization}		⁵⁸¹		⁸⁶⁹
^{Interest expense}		^4,152		^4,191
^{Other general corporate (income) expense, net}		⁵⁶²		⁸¹⁴
^Total	^$	^15,206	^$	^15,786

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Number 131

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