Business Segment Information

9 Months Ended

Sep. 30, 2018

The following table sets forth certain financial information with respect to Basic’s reportable segments (in thousands):


	Completion
	and Remedial		Well		Water		Contract		Corporate
	Services		Servicing		Logistics		Drilling		and Other		Total
Three Months Ended September 30, 2018 (Unaudited)
Operating revenues	$	115,978	$	67,246	$	59,539	$	3,571	$	—	$	246,334
Direct operating costs	(89,777)		$	(55,106)	$	(42,785)	$	(2,731)	$	—	(190,399)
Segment profits	$	26,201	$	12,140	$	16,754	$	840	$	—	$	55,935
Depreciation and amortization	$	16,563	$	6,533	$	7,214	$	314	$	2,130	$	32,754
Capital expenditures (excluding acquisitions)	$	10,664	$	4,921	$	6,710	$	43	$	804	$	23,142
Three Months Ended September 30, 2017 (Unaudited)
Operating revenues	$	123,650	$	54,629	$	52,333	$	2,848	$	—	$	233,460
Direct operating costs	(84,481)		$	(43,219)	$	(41,281)	$	(2,547)	$	—	(171,528)
Segment profits	$	39,169	$	11,410	$	11,052	$	301	$	—	$	61,932
Depreciation and amortization	$	13,860	$	5,319	$	7,703	$	495	$	2,101	$	29,478
Capital expenditures (excluding acquisitions)	$	11,285	$	6,884	$	10,055	$	12	$	672	$	28,908
Nine Months Ended September 30, 2018 (Unaudited)
Operating revenues	$	360,523	$	189,188	$	175,727	$	8,930	$	—	$	734,368
Direct operating costs	(279,963)		$	(152,977)	$	(127,716)	$	(7,017)	$	—	(567,673)
Segment profits	$	80,560	$	36,211	$	48,011	$	1,913	$	—	$	166,695
Depreciation and amortization	$	45,638	$	18,196	$	22,978	$	1,097	$	6,241	$	94,150
Capital expenditures (excluding acquisitions)	$	32,002	$	17,227	$	17,488	$	553	$	1,558	$	68,828
Identifiable assets	$	245,273	$	105,287	$	115,803	$	5,203	$	307,404	$	778,970
Nine Months Ended September 30, 2017 (Unaudited)
Operating revenues	$	311,466	$	156,302	$	153,279	$	7,728	$	—	$	628,775
Direct operating costs	(232,932)		$	(125,931)	$	(124,399)	$	(6,818)	$	—	(490,080)
Segment profits	$	78,534	$	30,371	$	28,880	$	910	$	—	$	138,695
Depreciation and amortization	$	38,013	$	14,589	$	21,127	$	1,357	$	5,760	$	80,846
Capital expenditures (excluding acquisitions)	$	69,342	$	20,377	$	26,392	$	30	$	1,920	$	118,061
Identifiable assets	$	263,407	$	107,511	$	135,338	$	8,643	$	346,246	$	861,145

The following table reconciles the segment profits reported above to the operating loss as reported in the consolidated statements of operations (in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018		2017		2018		2017

Segment profits	$	55,935	$	61,932	$	166,695	$	138,695
General and administrative expenses	39,599		39,235		132,038		109,478

Depreciation and amortization	32,754		29,478		94,150		80,846
(Gain) loss on disposal of assets	191		26		3,891		(664)

Operating loss	$	(16,609)	$	(6,807)	$	(63,384)	$	(50,965)