v3.26.3
Industry Segments
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Industry Segments INDUSTRY SEGMENTS
We manage our operations through two segments: Completion Fluids & Products Segment and Water & Flowback Services Segment. Summarized financial information concerning the business segments is as follows:
Three Months Ended
September 30, 2026
Completion Fluids & ProductsWater & Flowback ServicesTotal
(in thousands)
Revenue$91,873 $76,078 $167,951 
Cost of product sales and services
64,828 58,211 123,039 
Depreciation, amortization and accretion
2,343 7,396 9,739 
General and administrative expense6,997 6,404 13,401 
Operating income
17,705 4,067 21,772 
Interest (income) expense, net
(473)151 (322)
Other expense (income), net
1,181 (322)859 
Income before taxes
$16,997 $4,238 $21,235 
Unallocated corporate expenses$11,967 
Corporate depreciation, amortization and accretion76 
Interest expense, net2,683 
Other expense, net80 
Consolidated income before taxes
$6,429 
Capital expenditures(1)
$28,299 $6,852 $35,311 
(1) Total consolidated capital expenditures include corporate capital spend of $160 thousand for the three months ended September 30, 2026.
Nine Months Ended
September 30, 2026
Completion Fluids & ProductsWater & Flowback ServicesTotal
(in thousands)
Revenue$296,704 $213,157 $509,861 
Cost of product sales and services199,356 162,878 362,234 
Depreciation, amortization and accretion6,779 21,581 28,360 
General and administrative expense22,921 19,055 41,976 
Operating income
67,648 9,643 77,291 
Interest (income) expense, net(733)487 (246)
Other expense (income), net
(101)(347)(448)
Income before taxes
$68,482 $9,503 $77,985 
Unallocated corporate expenses$34,385 
Corporate depreciation, amortization and accretion
231 
Interest expense, net
9,111 
Other expense, net
385 
Consolidated income before taxes
$33,873 
Capital expenditures(1)
$54,295 $23,117 $77,645 
(1) Total consolidated capital expenditures include corporate capital spend of $233 thousand for the nine months ended September 30, 2026.
September 30, 2026
Total assets(2)
$517,106 $168,032 $809,296 
(2) Total consolidated assets include corporate assets of $124 million at September 30, 2026.
Three Months Ended
September 30, 2025
Completion Fluids & ProductsWater & Flowback ServicesTotal
(in thousands)
Revenue$90,264 $62,975 $153,239 
Cost of product sales and services
57,571 49,807 107,378 
Depreciation, amortization and accretion
2,263 7,136 9,399 
General and administrative expense6,993 5,741 12,734 
Operating income
23,437 291 23,728 
Interest (income) expense, net
(170)34 (136)
Other (income) expense, net
(1,707)205 (1,502)
Income before taxes
$25,314 $52 $25,366 
Unallocated corporate expenses$12,506 
Corporate depreciation, amortization and accretion
92 
Interest expense, net
4,584 
Other expense, net
79 
Consolidated income before taxes
$8,105 
Capital expenditures(1)
$9,857 $5,882 $15,739 
(1) Total consolidated capital expenditures include corporate capital spend of zero for the three months ended September 30, 2025.
Nine Months Ended
September 30, 2025
Completion Fluids & ProductsWater & Flowback ServicesTotal
(in thousands)
Revenue$292,726 $191,525 $484,251 
Cost of product sales and services174,480 153,809 328,289 
Depreciation, amortization and accretion6,654 20,897 27,551 
Impairments and other charges— 611 611 
General and administrative expense20,576 16,291 36,867 
Operating income (loss)
91,016 (83)90,933 
Interest (income) expense, net(587)40 (547)
Other (income) expense, net(2,520)9,983 7,463 
Income (loss) before taxes
$94,123 $(10,106)$84,017 
Unallocated corporate expenses$37,766 
Corporate depreciation, amortization and accretion
280 
Interest expense, net
13,913 
Other income, net
(569)
Consolidated income before taxes
$32,627 
Capital expenditures(1)
$37,223 $15,878 $53,182 
(1) Total consolidated capital expenditures include corporate capital spend of $81 thousand for the nine months ended September 30, 2025.
December 31, 2025
Total assets(2)
$347,770 $161,978 $675,761 
(2) Total consolidated assets include corporate assets of $166 million at December 31, 2025.

Our chief executive officer is considered the chief operating decision maker. We generally evaluate the performance of and allocate resources to our segments based on income (loss) from continuing operations before income taxes, return on investment, and other criteria. Resources for each segment, including employees and financial or capital resources, are allocated predominantly through the annual budget as well as the annual and monthly forecasting process.