v3.25.4
REPORTABLE SEGMENTS (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
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)
Income before income tax  $

60,398

   $95,498   $29,846 
SCHEDULE OF SEGMENT EXPENSES

Significant segment expenses, which represents the difference between segment revenue and pretax segment income, consist of the following:

 

   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