Management has implemented certain cost reduction actions including: the consolidation, relocation and exit of certain operating locations; the exit of certain service offerings; and reductions in the Company’s workforce in the United States. As a result of these and other events, actions and assessments, the Company recorded the following charges and credits during the three and six months ended June 30, 2026 and 2025 (in thousands):


	Offshore Manufactured Products		Completion and Production Services		Downhole Technologies		Corporate		Total
Three Months Ended June 30, 2026
Loss on extinguishment of debt (Note 4)	$	—	$	—	$	—	$	3,594	$	3,594
Executive transition costs	—		—		—		1,657		1,657




Impairments of assets held for sale	—		—		—		—		—

Gain on disposal of facility held for sale	—		—		—		(4,149)		(4,149)
Facility consolidation, exit and other charges	—		—		—		1,395		1,395
Pre-tax totals	$	—	$	—	$	—	$	2,497	2,497
Income tax benefit									—
After-tax total									$	2,497

Six Months Ended June 30, 2026
Loss on extinguishment of debt (Note 4)	$	—	$	—	$	—	$	3,594	$	3,594
Executive transition costs	—		—		—		1,657		1,657




Impairments of assets held for sale	—		—		—		1,384		1,384

Gain on disposal of facility held for sale	—		—		—		(4,149)		(4,149)
Facility consolidation, exit and other charges	192		—		—		3,891		4,083
Pre-tax totals	$	192	$	—	$	—	$	6,377	6,569
Income tax benefit									—
After-tax total									$	6,569


	Offshore Manufactured Products		Completion and Production Services		Downhole Technologies		Corporate		Total
Three Months Ended June 30, 2025



Impairments of operating lease assets	$	—	$	403	$	955	$	—	$	1,358
Gains on extinguishment of debt	—		—		—		(381)		(381)
Facility consolidation, exit and other charges	273		1,776		252		—		2,301
Pre-tax totals	$	273	$	2,179	$	1,207	$	(381)	3,278
Income tax benefit									688
After-tax total									$	2,590

Six Months Ended June 30, 2025



Impairments of operating lease assets	$	—	$	403	$	955	$	—	$	1,358
Gains on extinguishment of debt	—		—		—		(381)		(381)
Facility consolidation, exit and other charges	273		2,706		252		—		3,231
Pre-tax totals	$	273	3,109		1,207		$	(381)	4,208
Income tax benefit									884
After-tax total									$	3,324

An assessment for impairment of long-lived tangible and intangible assets is conducted when an event occurs or circumstances change that indicate that the carrying value of long-lived tangible and intangible assets may not be recoverable. During the first quarter of 2026, management made a decision to exit an additional U.S. land-based service line within the Completion and Production Services segment and market the related equipment. These assets were reclassified to Corporate assets held for sale. The carrying value of assets held for sale was assessed and reduced to estimated net realizable value, resulting in the recognition of impairment charges of $1.4 million within Corporate operations.

In connection with Cindy B. Taylor’s transition from her role as President and Chief Executive Officer, the Company entered into an Employment Transition Agreement and General Release of Claims (the “Transition Agreement”) with Ms. Taylor effective May 1, 2026. Pursuant to the terms of this agreement, Ms. Taylor will continue to be employed by the Company as a Senior Advisor and provide services from May 1 through November 1, 2026, at which time Ms. Taylor will voluntarily retire and be subject to certain non-compete and non-solicitation restrictions. During this period, Ms. Taylor will receive: a reduced monthly base salary; accelerated vesting of outstanding restricted stock awards granted in 2024 and 2025; continued vesting of other long-term incentive awards; and a pro-rata, short-term incentive payment for 2026. See Note 9, “Long-Term Incentive Compensation,” for further discussion of outstanding long-term incentive awards granted to Ms. Taylor. During the second quarter of 2026, the Company recognized stock-based compensation and other costs of $1.7 million related to this executive transition.