Segment Reporting and Other Disaggregated Information

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment Reporting and Other Disaggregated Information

16. SEGMENT REPORTING

Segment Reporting

We operate our business in two segments. These complementary operating segments provide different services and products and utilize different technologies for evaluating and improving reservoir performance and increasing oil and gas recovery from new and existing fields.

• Reservoir Description: Encompasses the characterization of petroleum reservoir rock and reservoir fluids samples to increase production and improve recovery of crude oil and natural gas from our clients' reservoirs. We provide laboratory-based analytical and field services to characterize properties of crude oil and crude oil-derived products to the oil and gas industry. We also provide proprietary and joint industry studies based on these types of analyses and manufacture associated laboratory equipment. In addition, we provide reservoir description capabilities that support various activities associated with energy transition projects, including services that support carbon capture, utilization and storage, hydrogen storage, geothermal projects, and the evaluation and appraisal of mining activities around lithium and other elements necessary for energy storage.

• Production Enhancement: Includes services and manufactured products associated with reservoir well completions, perforations, stimulation, production and well abandonment. We provide integrated diagnostic services to evaluate and monitor the effectiveness of well completions and to develop solutions aimed at increasing the effectiveness of enhanced oil recovery projects.

We use the same accounting policies to prepare our operating segment results as are used to prepare our consolidated financial statements. All interest and other non-operating income (expense) is attributable to Corporate & Other and is not allocated to specific operating segments. Summarized financial information concerning our operating segments is shown in the following table (in thousands):

	Reservoir Description		Production Enhancement			Corporate & Other (1)			Consolidated
Three months ended March 31, 2023
Revenue from unaffiliated clients	$	80,188	$	48,168		$	—		$	128,356
Inter-segment revenue		41		54			(95	)		—
Segment operating income (loss)		2,471		3,281			729			6,481
Total assets (at end of period)		302,855		167,017			123,745			593,617
Capital expenditures		1,562		618			28			2,208
Depreciation and amortization		2,885		991			168			4,044
Three months ended March 31, 2022
Revenue from unaffiliated clients	$	74,754	$	40,546		$	—		$	115,300
Inter-segment revenue		125		33			(158	)		—
Segment operating income (loss)		361		(918	)		166			(391	)
Total assets (at end of period)		305,949		145,019			133,950			584,918
Capital expenditures		2,080		57			160			2,297
Depreciation and amortization		2,971		1,340			246			4,557

(1) "Corporate & Other" represents those items that are not directly related to a particular operating segment and eliminations.