v3.25.2
Trade Accounts Receivable
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Trade Accounts Receivable Trade Accounts Receivable
The following table summarizes our trade accounts receivable from customers as of the dates presented:
June 30, December 31,
20252024
Trade accounts receivable
Rentals$12,525 $14,218 
Sales and aftermarket services1,735 2,657 
14,260 16,875 
Less: Provision for credit losses
(518)(1,249)
Total trade accounts receivable, net$13,742 $15,626 
Our trade accounts receivable consist of customer obligations due under normal trade terms for (i) operating leases for the use of our compressor equipment, (ii) the sale of compressors and related equipment and (iii) the performance of aftermarket services.
Major Customers and Concentration of Credit Risk
Rental revenue and sales from Occidental Permian, LTD. (“Oxy”) in the six months ended June 30, 2025 and 2024 amounted to 47 percent and 51 percent of revenue, respectively. No other single customer accounted for more than 10 percent of our revenues during these periods. Likewise, Oxy’s accounts receivable balances amounted to 50 percent and 52 percent of our accounts receivable as of June 30, 2025, and December 31, 2024, respectively. No other customers amounted to more than 10 percent of our accounts receivable as of these dates.
Provision for Credit Losses
The following table summarizes the changes in our provision for credit losses for the periods presented:
Six months endedYear ended
June 30, December 31,
20252024
Beginning balance$1,249 $823 
Provision for credit losses208 433 
Write-offs(939)(7)
Ending balance$518 $1,249 
Management believes that the provision is adequate; however, actual write-offs may exceed the recorded provision. The substantial write-off of the provision for credit losses during the six months ended June 30, 2025 reflects certain aged receivables that are no longer deemed collectible.