Industry Segments and Geographic Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Industry Segments and Geographic Information

INDUSTRY SEGMENTS AND GEOGRAPHIC INFORMATION

We manage our operations through two divisions: Completion Fluids & Products Division and Water & Flowback Services Division. Transfers between segments and geographic areas are priced at the estimated fair value of the products or services as negotiated between the operating units.

Summarized financial information concerning the business segments is as follows:

	Year Ended
	December 31, 2024
	Completion Fluids & Products		Water & Flowback Services		Corporate		Total
	(In Thousands)
Revenue	$	311,301	$	287,810	$	—	$	599,111
Cost of product sales and services	192,263		231,165		—		423,428
Depreciation, amortization, and accretion	9,733		25,631		357		35,721
Impairments and other charges	—		—		109		109
General and administrative expense	25,754		19,116		45,099		89,969
Interest (income) expense, net	(713)		64		23,114		22,465
Loss on debt extinguishment	—		—		5,535		5,535
Other (income) expense, net	1,369		1,134		(9,361)		(6,858)
Net income (loss) before taxes and discontinued operations	$	82,895	$	10,700	$	(64,853)	$	28,742
Capital expenditures	$	36,961	$	23,442	$	277	$	60,680
	December 31, 2024
Total assets	$	290,788	$	158,475	$	155,932	$	605,195
	Year Ended
	December 31, 2023
	Completion Fluids & Products		Water & Flowback Services		Corporate		Total
	(In Thousands)
Revenue	$	313,030	$	313,232	$	—	$	626,262
Cost of product sales and services	196,954		241,218		—		438,172
Depreciation, amortization, and accretion	9,053		24,876		400		34,329
Impairments and other charges	2,189		—		777		2,966
Insurance recoveries	(2,850)		—		—		(2,850)
Exploration and pre-development costs	12,119		—		—		12,119
General and administrative expense	28,003		19,452		49,135		96,590
Interest (income) expense, net	(646)		205		22,790		22,349
Other (income) expense, net	(10,106)		1,757		(763)		(9,112)
Net income (loss) before taxes and discontinued operations	$	78,314	$	25,724	$	(72,339)	$	31,699
Capital expenditures	$	11,073	$	26,571	$	508	$	38,152
	December 31, 2023
Total assets	$	249,911	$	166,325	$	62,725	$	478,961

	Year Ended
	December 31, 2022
	Completion Fluids & Products		Water & Flowback Services		Corporate		Eliminations		Total
	(In Thousands, Except Percents)
Revenue	$	273,373	$	279,840	$	—	$	—	$	553,213
Cost of product sales and services	182,388		217,841		—		—		400,229
Depreciation, amortization, and accretion	7,455		24,683		692		(11)		32,819
Impairments and other charges	562		2,242		—		—		2,804
Insurance recoveries	(3,750)		—		—		—		(3,750)
Exploration and pre-development costs	6,635		—		—		—		6,635
General and administrative expense	25,246		21,619		45,077		—		91,942
Interest (income) expense, net	(1,346)		138		17,041		—		15,833
Other income, net	(1,183)		(2,415)		(867)		—		(4,465)
Net income (loss) before taxes and discontinued operations	$	57,366	$	15,732	$	(61,943)	$	11	$	11,166
Capital expenditures	$	9,426	$	30,431	$	199	$	—	$	40,056

Summarized financial information concerning the geographic areas of our customers and in which we operate at December 31, 2024, 2023, and 2022, is presented below:

	Year Ended December 31,
	2024		2023		2022
	(In Thousands)
Revenues from external customers
United States	$	399,141	$	417,663	$	391,964
Europe	112,940		116,838		89,077
South America	56,574		57,700		30,560
Canada and Mexico	343		1,863		2,213
Africa	87		300		2,826
Middle East, Asia and other	30,026		31,898		36,573
Total revenues	$	599,111	$	626,262	$	553,213

Our chief executive officer is considered the chief operating decision maker. We generally evaluate the performance of and allocate resources to our segments based on net income (loss) before taxes, return on investment and other criteria. Resources for each segment, including employees and financial or capital resources, are allocated predominantly through the annual budget as well as the annual and monthly forecasting process.

As of December 31, 2024 and 2023, no single customer represented more than 10% of our consolidated trade accounts receivables, net of allowance for credit losses. During each of the years ended December 31, 2024, 2023, and 2022, no single customer accounted for more than 10% of our consolidated revenues.

	December 31,
	2024		2023
	(In Thousands)
Identifiable assets
United States	$	444,064	$	318,501
Europe	79,312		85,948
South America	66,912		57,440
Canada and Mexico	679		800
Africa	3,175		3,386
Middle East, Asia and other	11,053		12,886
Total identifiable assets	$	605,195	$	478,961