REPORTABLE SEGMENTS (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
| Segment Reporting [Abstract] |
|
| SCHEDULE OF SEGMENT REPORTING INFORMATION |
SCHEDULE OF SEGMENT REPORTING INFORMATION
Revenue
from operations
| | |
December 31, 2025 | | |
December 31, 2024 | | |
December 31, 2023 | |
| | |
Year ended | |
| | |
December 31, 2025 | | |
December 31, 2024 | | |
December 31, 2023 | |
| Reportable Segment: | |
| | | |
| | | |
| | |
| Production Services | |
$ | 815,999 | | |
$ | 878,076 | | |
$ | 785,642 | |
| Drilling and Evaluation Services | |
| 508,048 | | |
| 423,628 | | |
| 360,273 | |
| Total revenue from external customers | |
$ | 1,324,047 | | |
$ | 1,301,704 | | |
$ | 1,145,915 | |
Long-lived
assets
| | |
December 31, 2025 | | |
December 31, 2024 | |
| | |
As of | |
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Reportable Segment: | |
| | | |
| | |
| Production Services | |
$ | 222,306 | | |
$ | 220,453 | |
| Drilling and Evaluation Services | |
| 186,738 | | |
| 162,295 | |
| Total Reportable Segments | |
| 409,044 | | |
| 382,748 | |
| Unallocated assets | |
| 56,410 | | |
| 55,398 | |
| Total long-lived assets | |
$ | 465,454 | | |
$ | 438,146 | |
Unallocated
assets mainly comprise of buildings and leasehold improvements in the countries which supports both the segments in the normal course
of business.
Total
segment operating income
| | |
December 31, 2025 | | |
December 31, 2024 | | |
December 31, 2023 | |
| | |
Year ended | |
| | |
December 31, 2025 | | |
December 31, 2024 | | |
December 31, 2023 | |
| Reportable Segment: | |
| | | |
| | | |
| | |
| Production Services | |
$ | 100,318 | | |
$ | 146,869 | | |
$ | 111,060 | |
| Drilling and Evaluation Services | |
| 69,055 | | |
| 63,102 | | |
| 36,461 | |
| Total Reportable Segments | |
| 169,373 | | |
| 209,971 | | |
| 147,521 | |
| Unallocated expenses | |
| (71,053 | ) | |
| (72,267 | ) | |
| (66,818 | ) |
| Total Operating income | |
| 98,320 | | |
| 137,704 | ) | |
| 80,703 | |
| Interest expense, net | |
| (32,513 | ) | |
| (39,881 | ) | |
| (45,826 | ) |
| Other (expense) / income, net | |
| (5,409 | ) | |
| (2,325 | ) | |
| (5,031 | ) |
|
| SCHEDULE OF SEGMENT EXPENSES |
Significant
segment expenses, which represents the difference between segment revenue and pretax segment income, consist of the following:
SCHEDULE OF SEGMENT EXPENSES
| | |
December 31,
2025 | | |
December 31,
2024 | | |
December 31,
2023 | |
| | |
Year ended | |
| | |
December 31,
2025 | | |
December 31,
2024 | | |
December 31,
2023 | |
| | |
| | |
| | |
| |
| Production Services: | |
| | | |
| | | |
| | |
| Compensation | |
$ | 187,855 | | |
$ | 193,908 | | |
$ | 173,539 | |
| Cost of products, materials, and supplies | |
| 246,994 | | |
| 262,003 | | |
| 231,642 | |
| Transport and rental | |
| 118,958 | | |
| 115,025 | | |
| 99,432 | |
| Depreciation and amortization | |
| 76,486 | | |
| 80,547 | | |
| 88,777 | |
| Other | |
| 85,388 | | |
| 79,724 | | |
| 81,192 | |
| Total | |
$ | 715,681 | | |
$ | 731,207 | | |
$ | 674,582 | |
| | |
December 31,
2025 | | |
December 31,
2024 | | |
December 31,
2023 | |
| | |
Year ended | |
| | |
December 31,
2025 | | |
December 31,
2024 | | |
December 31,
2023 | |
| | |
| | |
| | |
| |
| Drilling and Evaluation Services | |
| | | |
| | | |
| | |
| Compensation | |
$ | 153,775 | | |
$ | 137,362 | | |
$ | 121,707 | |
| Cost of products, materials, and supplies | |
| 72,637 | | |
| 70,740 | | |
| 64,144 | |
| Transport and rental | |
| 100,598 | | |
| 68,783 | | |
| 52,736 | |
| Depreciation and amortization | |
| 47,510 | | |
| 42,386 | | |
| 42,219 | |
| Other | |
| 64,473 | | |
| 41,255 | | |
| 43,006 | |
| Total | |
$ | 438,993 | | |
$ | 360,526 | | |
$ | 323,812 | |
|
| SCHEDULE OF SEGMENT INFORMATION BY GEOGRAPHIC AREA |
SCHEDULE
OF SEGMENT INFORMATION BY GEOGRAPHIC AREA
| | |
December 31, 2025 |
| |
December 31, 2024 | | |
December 31, 2023 | |
| | |
Year ended | |
| | |
December 31, 2025 |
| |
December 31, 2024 | | |
December 31, 2023 | |
| Geographic Area: | |
| | | |
| | | |
| | |
| Domestic (BVI) | |
$ | - | | |
$ | - | | |
$ | - | |
| MENA | |
| 1,315,939 | | |
| 1,282,923 | | |
| 1,132,321 | |
| Rest of World | |
| 8,108 | | |
| 18,781 | | |
| 13,594 | |
| Total revenue | |
$ | 1,324,047 | | |
$ | 1,301,704 | | |
$ | 1,145,915 | |
Long-lived
assets by geographic area
| | |
December 31, 2025 | | |
December 31,
2024 | |
| | |
As of | |
| | |
December 31, 2025 | | |
December 31,
2024 | |
| Geographic area: | |
| | | |
| | |
| Domestic (BVI) | |
$ | | | |
$ | - | |
| MENA | |
| 457,124 | | |
| 428,353 | |
| Rest of World | |
| 8,330 | | |
| 9,793 | |
| Total long-lived assets | |
$ | 465,454 | | |
$ | 438,146 | |
|