XML 22 R9.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Revenue and Accounts Receivable
6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue and Accounts Receivable

(2) Revenue and Accounts Receivable

 

Disaggregation of Revenue

 

The following table presents our revenues by segment disaggregated by geography:

 

 

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

U.S. land

 

 

 

 

 

 

 

 

 

 

 

 

Rentals

 

$

32,713

 

 

$

44,730

 

 

$

71,719

 

 

$

89,863

 

Well Services

 

 

6,242

 

 

 

5,806

 

 

 

13,708

 

 

 

12,161

 

Total U.S. land

 

 

38,955

 

 

 

50,536

 

 

 

85,427

 

 

 

102,024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. offshore

 

 

 

 

 

 

 

 

 

 

 

 

Rentals

 

 

30,644

 

 

 

37,516

 

 

 

67,895

 

 

 

73,186

 

Well Services

 

 

23,125

 

 

 

23,405

 

 

 

51,997

 

 

 

39,726

 

Total U.S. offshore

 

 

53,769

 

 

 

60,921

 

 

 

119,892

 

 

 

112,912

 

 

 

 

 

 

 

 

 

 

 

 

 

 

International

 

 

 

 

 

 

 

 

 

 

 

 

Rentals

 

 

36,494

 

 

 

30,165

 

 

 

68,328

 

 

 

58,183

 

Well Services

 

 

71,863

 

 

 

102,851

 

 

 

136,068

 

 

 

191,491

 

Total International

 

 

108,357

 

 

 

133,016

 

 

 

204,396

 

 

 

249,674

 

Total Revenues

 

$

201,081

 

 

$

244,473

 

 

$

409,715

 

 

$

464,610

 

 

 

The following table presents our revenues by segment disaggregated by type:

 

 

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Services

 

 

 

 

 

 

 

 

 

 

 

 

Rentals

 

$

19,360

 

 

$

17,875

 

 

$

40,010

 

 

$

35,020

 

Well Services

 

 

62,327

 

 

 

88,255

 

 

 

115,014

 

 

 

164,400

 

Total Services

 

 

81,687

 

 

 

106,130

 

 

 

155,024

 

 

 

199,420

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rentals

 

 

 

 

 

 

 

 

 

 

 

 

Rentals

 

 

71,159

 

 

 

81,647

 

 

 

147,232

 

 

 

163,722

 

Well Services

 

 

5,172

 

 

 

3,714

 

 

 

10,189

 

 

 

7,249

 

Total Rentals

 

 

76,331

 

 

 

85,361

 

 

 

157,421

 

 

 

170,971

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product Sales

 

 

 

 

 

 

 

 

 

 

 

 

Rentals

 

 

9,332

 

 

 

12,889

 

 

 

20,700

 

 

 

22,490

 

Well Services

 

 

33,731

 

 

 

40,093

 

 

 

76,570

 

 

 

71,729

 

Total Product Sales

 

 

43,063

 

 

 

52,982

 

 

 

97,270

 

 

 

94,219

 

Total Revenues

 

$

201,081

 

 

$

244,473

 

 

$

409,715

 

 

$

464,610

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts Receivable, net

 

Our allowance for credit losses as of June 30, 2024 and December 31, 2023 was approximately $5.9 million and $6.3 million, respectively.