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Segment Information (Tables)
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Schedule Of Segment Reporting Information

Summarized financial information for our segments is as follows (in thousands):

 

 For the year ended December 31, 2022 (Successor)

 

 

 

 

Well

 

 

Corporate and

 

 

Consolidated

 

 

 

Rentals

 

 

Services

 

 

Other

 

 

Total

 

 Revenues

 

$

402,942

 

 

$

481,018

 

 

$

-

 

 

$

883,960

 

 Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)

 

 

137,626

 

 

 

339,325

 

 

 

-

 

 

 

476,951

 

 Depreciation, depletion, amortization and accretion

 

 

58,731

 

 

 

34,841

 

 

 

4,488

 

 

 

98,060

 

 General and administrative expenses

 

 

28,139

 

 

 

45,898

 

 

 

54,257

 

 

 

128,294

 

 Restructuring expenses

 

 

-

 

 

 

-

 

 

 

6,375

 

 

 

6,375

 

 Other (gains) and losses, net

 

 

(5,190

)

 

 

(23,575

)

 

 

(369

)

 

 

(29,134

)

 Income (loss) from operations

 

$

183,636

 

 

$

84,529

 

 

$

(64,751

)

 

$

203,414

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 For the Period February 3, 2021 through December 31, 2021 (Successor)

 

 

 

 

Well

 

 

Corporate and

 

 

Consolidated

 

 

 

Rentals

 

 

Services

 

 

Other

 

 

Total

 

 Revenues

 

$

268,695

 

 

$

380,059

 

 

$

-

 

 

$

648,754

 

 Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)

 

 

105,373

 

 

 

316,879

 

 

 

-

 

 

 

422,252

 

 Depreciation, depletion, amortization and accretion

 

 

152,250

 

 

 

61,074

 

 

 

6,535

 

 

 

219,859

 

 General and administrative expenses

 

 

24,812

 

 

 

46,780

 

 

 

45,983

 

 

 

117,575

 

 Restructuring expenses

 

 

-

 

 

 

-

 

 

 

22,952

 

 

 

22,952

 

 Other (gains) and losses, net

 

 

3,609

 

 

 

13,117

 

 

 

-

 

 

 

16,726

 

 Income (loss) from operations

 

$

(17,349

)

 

$

(57,791

)

 

$

(75,470

)

 

$

(150,610

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 For the Period January 1, 2021 through February 2, 2021 (Predecessor)

 

 

 

 

Well

 

 

Corporate and

 

 

Consolidated

 

 

 

Rentals

 

 

Services

 

 

Other

 

 

Total

 

Revenues

 

$

18,339

 

 

$

27,589

 

 

$

-

 

 

$

45,928

 

Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)

 

 

7,839

 

 

 

21,934

 

 

 

-

 

 

 

29,773

 

Depreciation, depletion, amortization and accretion

 

 

4,271

 

 

 

3,666

 

 

 

421

 

 

 

8,358

 

General and administrative expenses

 

 

2,027

 

 

 

4,111

 

 

 

4,914

 

 

 

11,052

 

Restructuring expenses

 

 

-

 

 

 

-

 

 

 

1,270

 

 

 

1,270

 

Income (loss) from operations

 

$

4,202

 

 

$

(2,122

)

 

$

(6,605

)

 

$

(4,525

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 For the year ended December 31, 2020 (Predecessor)

 

 

 

 

Well

 

 

Corporate and

 

 

Consolidated

 

 

 

Rentals

 

 

Services

 

 

Other

 

 

Total

 

 Revenues

 

$

297,835

 

 

$

369,414

 

 

$

-

 

 

$

667,249

 

 Cost of revenues (exclusive of depreciation, depletion, amortization and accretion)

 

 

109,902

 

 

 

298,229

 

 

 

-

 

 

 

408,131

 

 Depreciation, depletion, amortization and accretion

 

 

63,072

 

 

 

48,929

 

 

 

3,770

 

 

 

115,771

 

 General and administrative expenses

 

 

52,718

 

 

 

73,200

 

 

 

79,855

 

 

 

205,773

 

 Restructuring expenses

 

 

-

 

 

 

-

 

 

 

47,055

 

 

 

47,055

 

 Reduction in value of assets

 

 

754

 

 

 

21,038

 

 

 

1,983

 

 

 

23,775

 

 Income (loss) from operations

 

$

71,389

 

 

$

(71,982

)

 

$

(132,663

)

 

$

(133,256

)

Schedule Of Identifiable Assets

 

 

 

 

 

Well

 

 

Corporate

 

 

Consolidated

 

 

 

Rentals

 

 

Services

 

 

and Other

 

 

Total

 

December 31, 2022

 

$

432,437

 

 

$

533,327

 

 

$

225,248

 

 

$

1,191,012

 

December 31, 2021

 

 

379,453

 

 

 

636,256

 

 

 

183,799

 

 

 

1,199,508

 

Schedule Of Capital Expenditures, By Segment

 

 

 

 

 

Well

 

 

Corporate

 

 

Consolidated

 

 

 

Rentals

 

 

Services

 

 

and Other

 

 

Total

 

December 31, 2022

 

$

54,126

 

 

$

10,729

 

 

$

929

 

 

$

65,784

 

For the period from February 3, 2021 through December 31, 2021

 

 

27,335

 

 

 

6,817

 

 

 

-

 

 

 

34,152

 

For the period from January 1, 2021 through February 2, 2021 (Predecessor)

 

 

2,429

 

 

 

606

 

 

 

-

 

 

 

3,035

 

December 31, 2020 (Predecessor)

 

 

24,053

 

 

 

19,609

 

 

 

3,991

 

 

 

47,653

 

Schedule Of Revenues By Geographic Segment Long-lived assets consist primarily of property, plant and equipment and are attributed to various countries based on the physical location of the asset at the end of a period.

 

Long-Lived Assets

 

 

December 31, 2022

 

 

December 31, 2021

 

 United States

 

$

212,534

 

 

$

231,388

 

 Other countries

 

 

69,842

 

 

 

124,886

 

 Total

 

$

282,376

 

 

$

356,274