Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Revenues and Operating (Loss) Income by Reportable Segment

The following tables present revenues, significant expenses and operating (loss) income by reportable segment:


	Three Months Ended
	June 30, 2026										June 30, 2025
	Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total		Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Revenues	$	50.8	$	64.7	$	52.0	$	(0.2)	$	167.3	$	54.2	$	59.0	$	46.2	$	(0.4)	$	159.0
Less
Cost of sales	40.9		52.4		36.7		(0.2)				40.2		48.7		36.6		(0.4)
Depreciation and amortization	5.4		7.5		7.2						6.5		8.4		8.4
Selling, general and administrative(1)	2.0		2.9		1.6						1.9		3.0		1.5
Other segment items	2.3		1.7		1.4						2.3		0.6		1.0
Segment operating income	$	0.2	$	0.2	$	5.1	$	—	$	5.5	$	3.3	$	(1.7)	$	(1.3)	$	—	$	0.3
Reconciliation of profit or loss (segment profit/(loss))
Unallocated corporate expenses(2)									(3.4)										(9.0)
Interest income									0.0										0.0
Interest expense									(12.5)										(11.0)
Gain on debt extinguishment									0.3										—
Loss before income tax									$	(10.1)									$	(19.7)

(1) Note that the Selling, general and administrative line item in the Consolidated Statement of Operations contains the Other segment items line item here, less the Research and development costs line item.

(2) For the three months ended June 30, 2026, these consist of $1.0 of cost of sales, $0.7 of depreciation and amortization, $7.4 of selling, general and administrative, and $(5.7) of other expenses. For the three months ended June 30, 2025, these consist of $0.6 of cost of sales, $0.4 of depreciation and amortization, $7.6 of selling, general and administrative, and $0.4 of other expenses.


	Six Months Ended
	June 30, 2026										June 30, 2025
	Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total		Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Revenues	$	89.4	$	118.4	$	104.6	$	(0.4)	$	312.0	$	102.1	$	124.4	$	87.2	$	(0.7)	$	313.0
Less
Cost of sales	74.7		98.2		75.5		(0.4)				77.9		98.4		72.4		(0.7)
Depreciation and amortization	11.3		15.4		15.1						13.3		16.7		17.4
Selling, general and administrative(1)	3.9		6.0		3.2						3.8		6.4		3.1
Other segment items	3.1		2.0		2.7						4.0		1.6		3.7
Segment operating income	$	(3.6)	$	(3.2)	$	8.1	$	—	$	1.3	$	3.1	$	1.3	$	(9.4)	$	—	$	(5.0)
Reconciliation of profit or loss (segment profit/(loss))
Unallocated corporate expenses(2)									(11.3)										(20.2)
Interest income									0.0										0.3
Interest expense									(24.2)										(21.3)
Gain (loss) on debt extinguishment									0.3										(1.2)
Loss before income tax									$	(33.9)									$	(47.4)

(2) For the six months ended June 30, 2026, these consist of $1.9 of cost of sales, $0.9 of depreciation and amortization, $13.8 of selling, general and administrative, and $(5.3) of other expenses. For the six months ended June 30, 2025, these consist of $1.4 of cost of sales, $1.0 of depreciation and amortization, $17.0 of selling, general and administrative, and $0.8 of other expenses.

Schedule of Revenues by Service Offering by Reportable Segment

The following tables present revenues by service offering by reportable segment:


	Three Months Ended
	June 30, 2026										June 30, 2025
	Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total		Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Drilling	$	7.6	$	15.8	$	15.0	$	(0.2)	$	38.2	$	5.4	$	10.4	$	10.4	$	(0.4)	$	25.8
Completion	25.8		33.4		28.3				87.5		30.6		30.9		27.0				88.5
Production	12.2		10.1		3.9				26.2		13.4		10.9		4.0				28.3
Intervention	5.2		5.4		4.8				15.4		4.8		6.8		4.8				16.4
Total revenues	$	50.8	$	64.7	$	52.0	$	(0.2)	$	167.3	$	54.2	$	59.0	$	46.2	$	(0.4)	$	159.0


	Six Months Ended
	June 30, 2026										June 30, 2025
	Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total		Rocky Mountains		Southwest		Northeast /Mid-Con		Eliminations		Total
Drilling	$	13.5	$	26.5	$	27.5	$	(0.4)	$	67.1	$	12.9	$	22.4	$	21.8	$	(0.7)	$	56.4
Completion	43.5		61.6		60.4				165.5		52.9		63.8		49.9				166.6
Production	22.9		19.6		7.6				50.1		25.8		23.3		6.9				56.0
Intervention	9.5		10.7		9.1				29.3		10.5		14.9		8.6				34.0
Total revenues	$	89.4	$	118.4	$	104.6	$	(0.4)	$	312.0	$	102.1	$	124.4	$	87.2	$	(0.7)	$	313.0

Schedule of Total Assets by Reportable Segment

The following table presents total assets by segment:


	As of
	June 30, 2026		December 31, 2025
Rocky Mountains	$	93.3	$	103.0
Southwest	162.0		139.2
Northeast/Mid-Con	108.7		92.4
Total	364.0		334.6
Unallocated assets	7.9		5.7
Total assets	$	371.9	$	340.3

Schedule of Cash Capital Expenditures by Reportable Segment

The following table presents cash capital expenditures by reportable segment:


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Rocky Mountains	$	2.2	$	1.3	$	3.9	$	2.8
Southwest	2.0		3.9		3.8		10.0
Northeast/Mid-Con	4.3		7.4		9.5		14.5
Unallocated expenditures	0.1		0.1		0.1		0.4
Total capital expenditures	$	8.6	$	12.7	$	17.3	$	27.7

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details