v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue        
Total revenue $ 176.5 $ 140.6 $ 335.6 $ 275.8
Cost of services (exclusive of depreciation and amortization):        
Total cost of services (exclusive of depreciation and amortization) 142.7 115.0 273.3 230.4
General and administrative 7.6 7.0 15.4 14.1
Depreciation and amortization 15.6 10.9 31.8 21.5
Impairment of assets 0.0 0.0 0.0 0.4
Gain on sale of assets (1.2) (0.9) (1.8) (0.2)
Total operating expenses 164.7 132.0 318.7 266.2
Operating income 11.8 8.6 16.9 9.6
Other income and expenses        
Interest expense, net 1.1 0.1 1.9 0.6
Other expense (income), net 0.4 (1.6) 0.7 (1.6)
Total other expense (income), net 1.5 (1.5) 2.6 (1.0)
Income before income tax expense 10.3 10.1 14.3 10.6
Income tax expense 3.4 2.8 4.4 2.7
Net income $ 6.9 $ 7.3 $ 9.9 $ 7.9
Income per common share        
Basic (in dollars per share) $ 0.29 $ 0.33 $ 0.42 $ 0.35
Diluted (in dollars per share) $ 0.29 $ 0.32 $ 0.41 $ 0.35
Weighted average common shares outstanding        
Basic (in shares) 23,694,601 22,457,455 23,649,757 22,384,737
Diluted (in shares) 23,995,214 22,673,369 23,983,192 22,714,732
High Specification Rigs        
Revenue        
Total revenue $ 113.4 $ 86.3 $ 222.5 $ 173.8
Cost of services (exclusive of depreciation and amortization):        
Total cost of services (exclusive of depreciation and amortization) 93.0 68.7 181.2 138.8
Wireline Services        
Revenue        
Total revenue 18.6 22.1 29.2 39.3
Cost of services (exclusive of depreciation and amortization):        
Total cost of services (exclusive of depreciation and amortization) 15.2 20.7 25.9 41.0
Processing Solutions and Ancillary Services        
Revenue        
Total revenue 44.5 32.2 83.9 62.7
Cost of services (exclusive of depreciation and amortization):        
Total cost of services (exclusive of depreciation and amortization) $ 34.5 $ 25.6 $ 66.2 $ 50.6