Risk Concentrations |
6 Months Ended |
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Jun. 30, 2025 | |
| Risk Concentrations | |
| Risk Concentrations | Note 11 — Risk Concentrations Customer Concentrations During the three months ended June 30, 2025, three customers accounted for approximately 27%, 13%, and 11%, respectively, of the Company’s consolidated revenues. These customers contributed 36% of the revenue for high specification rigs, 3% for wireline services, and 11% for processing solutions and ancillary services. During the six months ended June 30, 2025, four customers accounted for approximately 28%, 13%, 11%, and 10%, respectively, of the Company’s consolidated revenues. These customers contributed 43% of the revenue for high specification rigs, 4% for wireline services, and 14% for processing solutions and ancillary services. As of June 30, 2025, approximately 61% of the net accounts receivable balance, in aggregate, was due from these customers. During the three months ended June 30, 2024, three customers accounted for approximately 16%, 12% and 10%, respectively, of the Company’s consolidated revenues. For the three months ended June 30, 2024, these customers contributed 26% of the revenue for high specification rigs, 5% for wireline services, and 14% for processing solutions and ancillary services. During the six months ended June 30, 2024, three customers accounted for approximately 14%, 12% and 10%, respectively, of the Company’s consolidated revenues. These customers contributed 49% of the revenue for high specification rigs, 10% for wireline services, and 25% for processing solutions and ancillary services. As of June 30, 2024, approximately 35% of the net accounts receivable balance, in aggregate, was due from these customers.
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