Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

In connection with the March 9, 2020 acquisition of CJWS, the Company recorded goodwill of $18.9 million, which was initially allocated to its Well Servicing and Water Logistics reporting units based on their respective fair values. Activity during the period ended September 30, 2020, associated with goodwill by reporting units is as follows (in thousands):


	Well Servicing		Water Logistics		Completion & Remedial		Total
Balance as of December 31, 2019	$	—	$	—	$	—	$	—
Additions to goodwill	10,565		8,320		—		18,885
Goodwill impairments	(10,565)		—		—		(10,565)
Balance as of September 30, 2020	$	—	$	8,320	$	—	$	8,320

The Company had trade names of $7.2 million and $3.2 million as of September 30, 2020, and December 31, 2019, respectively. In connection with the CJWS Transaction, the Company recorded intangible assets for CJWS trade name and goodwill. Trade names have a 15-year life and are tested for impairment when triggering events are identified.

During the nine month period ended September 30, 2020, and due to significant factors impacting supply and demand in the global oil and natural gas markets, the Company assessed certain of its intangible assets and goodwill for impairment. For further discussion, see Note 14. Impairments.

The Company’s intangible assets subject to amortization were as follows (in thousands):


	September 30, 2020		December 31, 2019


Trade names	$	7,230	$	3,230
Other intangible assets	48		48
Intangible assets	7,278		3,278
Less accumulated amortization	(977)		(675)
Intangible assets subject to amortization, net	$	6,301	$	2,603

Amortization expense of intangible assets for the three and nine months ended September 30, 2020 and 2019, was as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Intangible asset amortization expense	$	123	$	59	$	302	$	178