Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Operating Results of Discontinued Operations

Assets and liabilities related to the divested operations have been reclassified in the Consolidated Balance Sheet for the years ended December 31, 2019, and 2018 are detailed in the table below (in thousands):

	December 31, 2019		December 31, 2018
Assets-held-for-sale
Inventories	$	2,069	$	6,498
Prepaid Expenses	—		8,489
Right of use assets	1,659		—
Property, plant and equipment, net	50,496		—
Total assets-held-for-sale discontinued operations	$	54,224	$	14,987
Assets-held-for-sale-future-use
Property, plant and equipment, net	$	—	$	139,631
Liabilities related to Assets-held-for-sale
Right of use liabilities	1,659		—
Capital leases	3,589		10,983
Total Liabilities related to Assets-held-for-sale discontinued operations	$	5,248	$	10,983

The operating results of the divested pressure pumping operations and contract drilling operations, which have historically been included in the Completions & Remedial Services and Other Services segments, have been reclassified as discontinued operations in the Consolidated Statement of Operations for the years ended December 31, 2019, and 2018, as detailed in the table below:

Consolidated Statement of Operations
(Dollars in thousands, except per share amounts)
	December 31, 2019						December 31, 2018
	Continuing Operations		Discontinued Operations		Total		Continuing Operations		Discontinued Operations		Total
Revenues:
Well Servicing	$	226,966	$	—	$	226,966	$	250,982	$	9	$	250,991
Water Logistics	199,816		—		199,816		231,283		—		231,283
Completion & Remedial Services	140,468		134,474		274,942		171,300		298,156		469,456
Other Services	—		8,411		8,411		—		12,990		12,990
Total revenues	567,250		142,885		710,135		653,565		311,155		964,720
Expenses:
Well Servicing	186,782		(92)		186,690		203,785		(200)		203,585
Water Logistics	141,379		—		141,379		166,907		19		166,926
Completion & Remedial Services	98,654		127,950		226,604		109,713		256,062		365,775
Other Services	—		6,920		6,920		—		10,130		10,130
General and administrative	118,460		15,208		133,668		145,725		21,790		167,515
Depreciation and amortization	69,489		45,168		114,657		78,173		48,244		126,417
Asset impairment	—		35,801		35,801		—		—		—
Loss (gain) on disposal of assets	2,135		1,878		4,013		(4,918)		2,320		(2,598)
Total expenses	616,899		232,833		849,732		699,385		338,365		1,037,750
Operating loss	(49,649)		(89,948)		(139,597)		(45,820)		(27,210)		(73,030)
Other income (expense):
Loss on extinguishment of debt	—		—		—		(26,429)		—		(26,429)
Interest expense	(42,887)		(583)		(43,470)		(45,161)		(692)		(45,853)
Interest income	509		—		509		364		—		364
Other income	647		34		681		537		41		578
Loss before income taxes	(91,380)		(90,497)		(181,877)		(116,509)		(27,861)		(144,370)
Income tax expense	(21)		—		(21)		(227)		—		(227)
Loss from operations	$	(91,401)	$	(90,497)	$	(181,898)	$	(116,736)	$	(27,861)	$	(144,597)
Net loss per share of common stock, basic and diluted	$	(3.50)	$	(3.46)	$	(6.96)	$	(4.41)	$	(1.05)	$	(5.46)

Interest expense in discontinued operations related to interest expense on capital lease assets that operated in the discontinued Completions & Remedial Services and Other Services segments.

Applicable Consolidated Statements of Cash Flow information related to the divested operations for the years ended December 31, 2019 and 2018 are detailed in the table below (in thousands):

	December 31, 2019		December 31, 2018
Cash Flows from Discontinued Operations
Net cash provided (used) by operating activities	$	2,120	$	37,691
Net cash provided (used) in investing activities	$	133	$	(23,074)

Reconciling items for cash flows:
	December 31, 2019
	Continuing operations		Discontinued operations		Cash flows
Operating activities :
Inventory and other write-downs	$	5,266	$	5,341	$	10,607
Loss on disposal of assets	$	2,135	$	1,878	$	4,013
Investing activities:
Purchase of Property plant and equipment	$	(44,794)	$	(10,559)	$	(55,353)
Proceeds from sales of assets	$	6,605	$	10,692	$	17,297

Reconciling items for cash flows:
	December 31, 2018
	Continuing operations		Discontinued operations		Cash flows
Operating activities :
(Gain) Loss on disposal of assets	$	(4,918)	$	2,320	$	(2,598)
Investing activities:
Purchase of Property plant and equipment	$	(43,063)	$	(25,646)	$	(68,709)
Proceeds from sales of assets	$	15,213	$	2,572	$	17,785