Oil States International (OIS) 10-Q 28 Jul 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Jul. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-16337
Entity Registrant Name	OIL STATES INTERNATIONAL, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0476605
Entity Address, Address Line One	Three Allen Center, 333 Clay Street
Entity Address, Address Line Two	Suite 4620
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	652-0582
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	OIS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding (in shares)		61,989,208
Entity Central Index Key	0001121484
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Shell Company	false

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Revenues	$ 181,834	$ 145,724	$ 345,878	$ 271,313
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)	142,156	117,632	268,760	219,942
Selling, general and administrative expense	23,757	22,092	47,590	43,317
Depreciation and amortization expense	17,239	20,909	35,056	42,429
Impairments of fixed and lease assets	0	2,794	0	3,444
Other operating income, net	(228)	(85)	(102)	(439)
Costs and expenses	182,924	163,342	351,304	308,693
Operating loss	(1,090)	(17,618)	(5,426)	(37,380)
Interest expense, net	(2,638)	(2,699)	(5,310)	(5,024)
Other income, net	376	1,820	1,401	5,780
Loss before income taxes	(3,352)	(18,497)	(9,335)	(36,624)
Income tax (provision) benefit	(1,792)	3,226	(5,233)	5,543
Net loss	$ (5,144)	$ (15,271)	$ (14,568)	$ (31,081)
Net loss per share:
Basic (in dollars per share)	$ (0.08)	$ (0.25)	$ (0.24)	$ (0.52)
Diluted (in dollars per share)	$ (0.08)	$ (0.25)	$ (0.24)	$ (0.52)
Weighted average number of common shares outstanding:
Basic (in shares)	60,704	60,317	60,601	60,207
Diluted (in shares)	60,704	60,317	60,601	60,207
Products
Revenues:
Revenues	$ 99,033	$ 78,038	$ 184,794	$ 139,483
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)	79,388	63,926	144,189	113,389
Services
Revenues:
Revenues	82,801	67,686	161,084	131,830
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)	$ 62,768	$ 53,706	$ 124,571	$ 106,553

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (5,144)	$ (15,271)	$ (14,568)	$ (31,081)
Other comprehensive income (loss):
Currency translation adjustments	(12,680)	3,160	(11,819)	1,631
Comprehensive loss	$ (17,824)	$ (12,111)	$ (26,387)	$ (29,450)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 22,246	$ 52,852
Accounts receivable, net	204,387	186,080
Inventories, net	179,819	168,573
Prepaid expenses and other current assets	19,682	19,222
Total current assets	426,134	426,727
Property, plant, and equipment, net	314,898	338,583
Operating lease assets, net	24,843	25,388
Goodwill, net	79,485	76,412
Other intangible assets, net	179,591	185,749
Other noncurrent assets	27,352	32,889
Total assets	1,052,303	1,085,748
Current liabilities:
Current portion of long-term debt	37,595	18,262
Accounts payable	54,738	63,343
Accrued liabilities	46,344	43,401
Current operating lease liabilities	6,046	6,481
Income taxes payable	3,163	2,564
Deferred revenue	47,883	43,236
Total current liabilities	195,769	177,287
Long-term debt	134,871	160,488
Long-term operating lease liabilities	22,703	23,452
Deferred income taxes	6,510	3,637
Other noncurrent liabilities	20,509	25,058
Total liabilities	380,362	389,922
Stockholders' equity:
Common stock, $.01 par value, 200,000,000 shares authorized, 74,673,309 shares and 73,900,160 shares issued, respectively	747	739
Additional paid-in capital	1,108,631	1,105,135
Retained earnings	266,999	281,567
Accumulated other comprehensive loss	(77,850)	(66,031)
Treasury stock, at cost, 12,684,101 and 12,521,834 shares, respectively	(626,586)	(625,584)
Total stockholders' equity	671,941	695,826
Total liabilities and stockholders' equity	$ 1,052,303	$ 1,085,748

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	74,673,309	73,900,160
Treasury stock, shares (in shares)	12,684,101	12,521,834

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Additional Paid-In Capital Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning balance at Dec. 31, 2020	$ 757,631	$ (9,450)	$ 733	$ 1,122,945	$ (25,683)	$ 329,327	$ 16,233	$ (71,385)	$ (623,989)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(31,081)					(31,081)
Currency translation adjustments (excluding intercompany advances)	1,624							1,624
Currency translation adjustments on intercompany advances	7							7
Stock-based compensation expense	4,703		6	4,697
Surrender of stock to settle taxes on stock awards	(1,500)								(1,500)
Ending balance at Jun. 30, 2021	721,934		739	1,101,959		314,479		(69,754)	(625,489)
Beginning balance at Mar. 31, 2021	732,162	$ 0	738	1,100,077	$ 0	329,750	$ 0	(72,914)	(625,489)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(15,271)					(15,271)
Currency translation adjustments (excluding intercompany advances)	556							556
Currency translation adjustments on intercompany advances	2,604							2,604
Stock-based compensation expense	1,883		1	1,882
Surrender of stock to settle taxes on stock awards	0								0
Ending balance at Jun. 30, 2021	721,934		739	1,101,959		314,479		(69,754)	(625,489)
Beginning balance at Dec. 31, 2021	695,826		739	1,105,135		281,567		(66,031)	(625,584)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(14,568)					(14,568)
Currency translation adjustments (excluding intercompany advances)	(13,208)							(13,208)
Currency translation adjustments on intercompany advances	1,389							1,389
Stock-based compensation expense	3,504		8	3,496
Surrender of stock to settle taxes on stock awards	(1,002)								(1,002)
Ending balance at Jun. 30, 2022	671,941		747	1,108,631		266,999		(77,850)	(626,586)
Beginning balance at Mar. 31, 2022	688,108		746	1,106,963		272,143		(65,170)	(626,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(5,144)					(5,144)
Currency translation adjustments (excluding intercompany advances)	(9,628)							(9,628)
Currency translation adjustments on intercompany advances	(3,052)							(3,052)
Stock-based compensation expense	1,669		1	1,668
Surrender of stock to settle taxes on stock awards	(12)								(12)
Ending balance at Jun. 30, 2022	$ 671,941		$ 747	$ 1,108,631		$ 266,999		$ (77,850)	$ (626,586)

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (14,568)	$ (31,081)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization expense	35,056	42,429
Settlement of disputes with seller of GEODynamics, Inc.	620	0
Impairments of fixed and lease assets	0	3,444
Stock-based compensation expense	3,504	4,703
Amortization of debt discount and deferred financing costs	944	1,366
Deferred income tax provision (benefit)	2,584	(6,834)
Gains on extinguishment of 1.50% convertible senior notes	(157)	(4,022)
Gains on disposals of assets	(1,185)	(1,632)
Other, net	517	375
Changes in operating assets and liabilities, net of effect from acquired business:
Accounts receivable	(20,469)	(6,962)
Inventories	(14,664)	(4,458)
Accounts payable and accrued liabilities	(5,994)	11,896
Deferred revenue	4,647	1,780
Other operating assets and liabilities, net	(870)	2,929
Net cash flows provided by (used in) operating activities	(10,035)	13,933
Cash flows from investing activities:
Capital expenditures	(6,453)	(7,311)
Proceeds from disposition of property and equipment	1,652	3,422
Acquisition of business, net of cash acquired	(8,125)	0
Other, net	(85)	(326)
Net cash flows used in investing activities	(13,011)	(4,215)
Cash flows from financing activities:
Revolving credit facility borrowings	9,725	12,571
Revolving credit facility repayments	(9,725)	(31,571)
Issuance of 4.75% convertible senior notes	0	135,000
Purchases of 1.50% convertible senior notes	(6,272)	(125,952)
Other debt and finance lease activity, net	(359)	119
Payment of financing costs	(74)	(7,779)
Shares added to treasury stock as a result of net share settlements due to vesting of stock awards	(1,002)	(1,500)
Net cash flows used in financing activities	(7,707)	(19,112)
Effect of exchange rate changes on cash and cash equivalents	147	33
Net change in cash and cash equivalents	(30,606)	(9,361)
Cash and cash equivalents, beginning of period	52,852	72,011
Cash and cash equivalents, end of period	22,246	62,650
Cash paid for:
Interest	4,105	2,256
Income taxes, net	$ 291	$ 920

Unaudited Consolidated Statem_5

Unaudited Consolidated Statements of Cash Flows (Parenthetical)	Jun. 30, 2022	Jun. 30, 2021	Mar. 19, 2021	Jan. 30, 2018
1.5% Convertible Unsecured Senior Notes
Stated interest rate (as a percent)	1.50%			1.50%
4.75% Convertible Senior Notes
Stated interest rate (as a percent)		4.75%	4.75%

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Oil States International, Inc. and its subsidiaries (the "Company") have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission pertaining to interim financial information. Certain information in footnote disclosures normally included with financial statements prepared in accordance with generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to these rules and regulations. The unaudited financial statements included in this report reflect all the adjustments, consisting of normal recurring adjustments, which the Company considers necessary for a fair statement of the results of operations for the interim periods covered and for the financial condition of the Company at the date of the interim balance sheet. Results for the interim periods are not necessarily indicative of results for the full year. As further discussed in Note 12, "Commitments and Contingencies," the impact of the Coronavirus Disease 2019 ("COVID-19") pandemic and the related economic, business and market disruptions continue to evolve and their future effects remain uncertain. The actual impact of these developments on the Company will depend on numerous factors, many of which are beyond management's control and knowledge. It is therefore difficult for management to assess or predict with precision the broad future effect of this health crisis on the global economy, the energy industry or the Company. During 2020 and 2021, the Company recorded asset impairments, severance and restructuring charges in response to these developments as further discussed in Note 3, "Asset Impairments and Other Restructuring Items." As additional information becomes available, events or circumstances change and strategic operational decisions are made by management, further adjustments may be required which could have a material adverse impact on the Company's consolidated financial position, results of operations and cash flows. The preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Examples of such estimates include, but are not limited to, goodwill and long-lived asset impairments, revenue and income recognized over time, valuation allowances recorded on deferred tax assets, reserves on inventory, allowances for doubtful accounts, settlement of litigation and potential future adjustments related to contractual indemnification and other agreements. Actual results could materially differ from those estimates. From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board, which are adopted by the Company as of the specified effective date. Management believes that recently issued standards, which are not yet effective, will not have a material impact on the Company's consolidated financial statements upon adoption. The financial statements included in this report should be read in conjunction with the Company's audited financial statements and accompanying notes included in its Annual Report on Form 10-K for the year ended December 31, 2021.

Acquisition

Acquisition	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition On April 14, 2022, the Company acquired E-Flow Control Holdings Limited ("E-Flow"), a U.K.-based global provider of fully integrated handling, control, monitoring and instrumentation solutions. The purchase price of $8.1 million (net of cash acquired) was funded with cash-on-hand and is subject to customary post-closing adjustments. Under the terms of the purchase agreement, the Company may be entitled to indemnification for certain matters occurring prior to the acquisition. The E-Flow acquisition was accounted for using the acquisition method of accounting, based on the Company's preliminary estimates of the fair value of assets acquired (primarily long-lived intangible assets and goodwill) and liabilities assumed in the acquisition. E-Flow's results of operations have been included in the Company's consolidated financial statements and have been reported within the Offshore/Manufactured Products segment subsequent to the closing of the acquisition.

Asset Impairments and Other Res

Asset Impairments and Other Restructuring Items	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Asset Impairments and Other Restructuring Items	Asset Impairments and Other Restructuring Items In March of 2020, the spot price of West Texas Intermediate ("WTI") crude oil declined over 50% in response to actual and forecasted reductions in global demand for crude oil due to the COVID-19 pandemic, coupled with announcements by Saudi Arabia and Russia of plans to increase crude oil production. As demand for most of the Company's products and services depends substantially on the level of capital expenditures by the oil and natural gas industry, these conditions caused rapid reductions to most of the Company's customers' drilling, completion and production activities and their related spending on the Company's products and services, particularly those supporting activities in the U.S. shale play regions, until the supply/demand imbalances eased. Following these March 2020 events, the Company immediately implemented significant cost reduction initiatives, which continued into 2021. In this regard, during the first six months of 2021, the Company continued its restructuring efforts, closed additional facilities in the United States and continued to assess the carrying value of its assets based on management actions and the industry outlook regarding demand for and pricing of its products and services, and recorded the following charges (in thousands): Offshore/ Manufactured Products Well Site Services Downhole Technologies Corporate Pre-tax Total Tax After-tax Total First quarter 2021 Impairments of fixed assets (Note 4) $ — $ 650 $ — $ — $ 650 $ 137 $ 513 Severance and restructuring costs 282 1,306 275 1,555 3,418 717 2,701 Second quarter 2021 Impairments of operating lease assets (Note 4) $ — $ 2,794 $ — $ — $ 2,794 $ 587 $ 2,207 Severance and restructuring costs — 2,351 203 — 2,554 536 2,018 Additionally, during the three and six months ended June 30, 2021, the Company recognized $2.8 million and $7.6 million, respectively, in aggregate reductions to payroll tax expense (within cost of revenues and selling, general and administrative expense) as part of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") employee retention credit program. As further discussed in Note 12, "Commitment and Contingencies," on June 28, 2022, the Company settled its disputes with the seller (the "GEO Seller") of GEODynamics, Inc. ("GEODynamics"), which was acquired in 2018, including the full and final settlement of all amounts due pursuant to the GEO Note (as defined below). As consideration for such settlement, on July 1, 2022, the Company issued the GEO Seller approximately 1.9 million shares of its common stock (having a market value of $10.3 million on the date of issuance) and paid the GEO Seller $10.0 million in cash. In connection with this settlement, the $17.5 million carrying value of the GEO Note and accrued interest of $2.2 million was extinguished on July 1, 2022. Should, among other events and circumstances, the ongoing war between Russia and Ukraine escalate or spread, global economic and industry conditions deteriorate, the COVID-19 pandemic business, supply chain and market disruptions worsen, the outlook for future operating results and cash flow for any of the Company's segments decline, income tax rates increase or regulations change, climate and environmental regulations or rules change, costs of equity or debt capital increase, valuation for comparable public companies or comparable acquisition valuations decrease, or management implements strategic decisions based on industry conditions, the Company may need to recognize additional impairment losses and/or other costs in future periods.

Details of Selected Balance She

Details of Selected Balance Sheet Accounts	6 Months Ended
	Jun. 30, 2022
Details of Selected Balance Sheet Accounts [Abstract]
Details of Selected Balance Sheet Accounts	Details of Selected Balance Sheet Accounts Additional information regarding selected balance sheet accounts as of June 30, 2022 and December 31, 2021 is presented below (in thousands): June 30, December 31, Accounts receivable, net: Trade $ 135,121 $ 116,434 Unbilled revenue 21,640 24,389 Contract assets 42,876 39,755 Other 9,916 9,973 Total accounts receivable 209,553 190,551 Allowance for doubtful accounts (5,166) (4,471) $ 204,387 $ 186,080 Allowance for doubtful accounts as a percentage of total accounts receivable 2 % 2 % June 30, December 31, Deferred revenue (contract liabilities) $ 47,883 $43,236 As of June 30, 2022, accounts receivable, net in the United States and the United Kingdom represented 74% and 14%, respectively, of the total. No other country or single customer accounted for more than 10% of the Company's total accounts receivable as of June 30, 2022. For the six months ended June 30, 2022, the $3.1 million net increase in contract assets was attributable to $30.1 million in revenue recognized during the period, which was partially offset by $26.7 million transferred to accounts receivable. Deferred revenue (contract liabilities) increased by $4.6 million in the first six months of 2022, reflecting $16.2 million in new customer billings which were not recognized as revenue during the period, partially offset by the recognition of $11.2 million of revenue that was deferred at the beginning of the period. The following provides a summary of activity in the allowance for doubtful accounts for the six months ended June 30, 2022 and 2021 (in thousands): Six Months Ended June 30, 2022 2021 Allowance for doubtful accounts – January 1 $ 4,471 $ 8,304 Provisions 1,044 61 Write-offs (629) (815) Other 280 148 Allowance for doubtful accounts – June 30 $ 5,166 $ 7,698 June 30, December 31, Inventories, net: Finished goods and purchased products $ 90,948 $ 87,934 Work in process 31,464 24,722 Raw materials 94,558 96,357 Total inventories 216,970 209,013 Allowance for excess or obsolete inventory (37,151) (40,440) $ 179,819 $ 168,573 June 30, December 31, Property, plant and equipment, net: Property, plant and equipment $ 1,126,777 $ 1,151,533 Accumulated depreciation (811,879) (812,950) $ 314,898 $ 338,583 For the three months ended June 30, 2022 and 2021, depreciation expense was $12.0 million and $15.6 million, respectively. Depreciation expense was $24.6 million and $32.0 million, respectively, for the six months ended June 30, 2022 and 2021. During the first and second quarters of 2021, the Well Site Services segment recognized non-cash fixed and operating lease asset impairment charges of $0.7 million and $2.8 million, respectively, associated with the closure of additional facilities coupled with other management actions. During the second quarter of 2021, the segment also recorded an additional $1.9 million charge associated with the exit of a leased facility. June 30, 2022 December 31, 2021 Gross Accumulated Net Carrying Amount Gross Accumulated Net Carrying Amount Other intangible assets: Customer relationships $ 170,933 $ 72,305 $ 98,628 $ 168,284 $ 66,734 $ 101,550 Patents/Technology/Know-how 79,872 36,234 43,638 78,821 33,151 45,670 Tradenames and other 54,158 16,833 37,325 53,708 15,179 38,529 $ 304,963 $ 125,372 $ 179,591 $ 300,813 $ 115,064 $ 185,749 For the three months ended June 30, 2022 and 2021, amortization expense was $5.3 million and $5.3 million, respectively. Amortization expense was $10.4 million and $10.5 million for the six months ended June 30, 2022 and 2021, respectively. June 30, December 31, Other noncurrent assets: Deferred compensation plan $ 19,015 $ 23,348 Deferred financing costs 2,308 2,674 Deferred income taxes 1,269 1,878 Other 4,760 4,989 $ 27,352 $ 32,889 June 30, December 31, Accrued liabilities: Accrued compensation $ 20,924 $ 20,904 Accrued taxes, other than income taxes 7,579 5,130 Insurance liabilities 5,073 6,361 Accrued interest 3,982 3,629 Accrued commissions 2,380 2,194 Other 6,406 5,183 $ 46,344 $ 43,401

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt As of June 30, 2022 and December 31, 2021, long-term debt consisted of the following (in thousands): June 30, December 31, Revolving credit facilities (1) $ — $ — 2026 Notes (2) 131,724 131,291 2023 Notes (3) 19,445 25,802 Promissory note (4) 17,534 17,534 Other debt and finance lease obligations 3,763 4,123 Total debt 172,466 178,750 Less: Current portion (37,595) (18,262) Total long-term debt $ 134,871 $ 160,488 ____________________ (1) Unamortized deferred financing costs of $2.3 million and $2.7 million as of June 30, 2022 and December 31, 2021, respectively, are presented in other noncurrent assets. (2) The outstanding principal amount of the 2026 Notes was $135.0 million as of June 30, 2022 and December 31, 2021. (3) The outstanding principal amount of the 2023 Notes was $19.5 million and $26.0 million as of June 30, 2022 and December 31, 2021, respectively. (4) The promissory note was settled on July 1, 2022. See Note 12, "Commitments and Contingencies" for additional discussion. Revolving Credit Facilities ABL Facility On February 10, 2021, the Company entered into a senior secured credit facility with certain lenders, which provides for a $125.0 million asset-based revolving credit facility (the "ABL Facility") under which credit availability is subject to a borrowing base calculation. Concurrent with entering into this facility, the Company's former senior secured revolving credit facility was terminated. On March 16, 2021, the Company entered into an amendment to the ABL Facility that permitted the Company to incur the indebtedness represented by the 2026 Notes discussed below. The ABL Facility is governed by a credit agreement, as amended, with Wells Fargo Bank, National Association, as administrative agent and the lenders and other financial institutions from time to time party thereto (the "ABL Agreement"). The ABL Agreement matures on February 10, 2025 with a springing maturity 91 days prior to the maturity of any outstanding indebtedness with a principal amount in excess of $17.5 million (excluding the GEO Note discussed below). The ABL Agreement provides funding based on a borrowing base calculation that includes eligible U.S. customer accounts receivable and inventory and provides for a $50.0 million sub-limit for the issuance of letters of credit. Borrowings under the ABL Agreement are secured by a pledge of substantially all of the Company's domestic assets (other than real property) and the stock of certain foreign subsidiaries. Borrowings under the ABL Agreement bear interest at a rate equal to the London Interbank Offered Rate ("LIBOR") plus a margin of 2.75% to 3.25% and subject to a LIBOR floor rate of 0.50%, or at a base rate plus a margin of 1.75% to 2.25%, in each case based on average borrowing availability. Quarterly, the Company must also pay a commitment fee of 0.375% to 0.50% per annum, based on unused commitments under the ABL Agreement. The ABL Agreement places restrictions on the Company's ability to incur additional indebtedness, grant liens on assets, pay dividends or make distributions on equity interests, dispose of assets, make investments, repay other indebtedness (including the 2023 Notes and the 2026 Notes discussed below), engage in mergers, and other matters, in each case, subject to certain exceptions. The ABL Agreement contains customary default provisions, which, if triggered, could result in acceleration of repayment of all amounts then outstanding. The ABL Agreement also requires the Company to satisfy and maintain a fixed charge coverage ratio of not less than 1.0 to 1.0 (i) in the event that availability under the ABL Agreement is less than the greater of (a) 15% of the borrowing base and (b) $14.1 million; (ii) to complete certain specified transactions; or (iii) if an event of default has occurred and is continuing. As of June 30, 2022, the Company had $18.6 million of outstanding letters of credit, but no borrowings outstanding under the ABL Agreement. The total amount available to be drawn as of June 30, 2022 was $61.8 million, calculated based on the current borrowing base less outstanding borrowings, if any, and letters of credit. As of June 30, 2022, the Company was in compliance with its debt covenants under the ABL Agreement. 2026 Notes On March 19, 2021, the Company issued $135.0 million aggregate principal amount of its 4.75% convertible senior notes due 2026 (the "2026 Notes") pursuant to an indenture, dated as of March 19, 2021 (the "2026 Indenture"), between the Company and Wells Fargo Bank, National Association, as trustee. Computershare Trust Company, National Association, assumed the role of trustee as of March 1, 2022. Net proceeds from the 2026 Notes offering, after deducting issuance costs, totaled $130.6 million. The Company used $120.0 million of the cash proceeds to purchase $125.0 million principal amount of the outstanding 2023 Notes at a discount, with the balance added to cash on-hand. The 2026 Notes bear interest at a rate of 4.75% per year and will mature on April 1, 2026, unless earlier repurchased, redeemed or converted. Interest is payable semi-annually in arrears on April 1 and October 1 of each year. Additional interest and special interest may accrue on the 2026 Notes under certain circumstances as described in the 2026 Indenture. The initial conversion rate is 95.3516 shares of the Company's common stock per $1,000 principal amount of the 2026 Notes (equivalent to an initial conversion price of approximately $10.49 per share of common stock). The conversion rate, and thus the conversion price, may be adjusted under certain circumstances as described in the 2026 Indenture. The Company's intent is to repay the principal amount of the 2026 Notes in cash and settle the conversion feature in shares of the Company's common stock. As of June 30, 2022, none of the conditions allowing holders of the 2026 Notes to convert, or requiring us to repurchase the 2026 Notes, had been met. 2023 Notes On January 30, 2018, the Company issued $200.0 million aggregate principal amount of its 1.50% convertible senior notes due 2023 (the "2023 Notes") pursuant to an indenture, dated as of January 30, 2018 (the "2023 Indenture"), between the Company and Wells Fargo Bank, National Association, as trustee. Computershare Trust Company, National Association, assumed the role of trustee as of March 1, 2022. The 2023 Notes bear interest at a rate of 1.50% per year and will mature on February 15, 2023, unless earlier repurchased, redeemed or converted. The initial conversion rate is 22.2748 shares of the Company's common stock per $1,000 principal amount of the 2023 Notes (equivalent to an initial conversion price of approximately $44.89 per share of common stock). The conversion rate, and thus the conversion price, may be adjusted under certain circumstances as described in the 2023 Indenture. The Company's intent is to repay the principal amount of the 2023 Notes in cash. As of June 30, 2022, $19.5 million principal amount of the 2023 Notes remained outstanding. The following table provides a summary of the Company's purchases of outstanding 2023 Notes during the three and six months ended June 30, 2022 and 2021, with non-cash gains reported within other income, net (in thousands): Principal Amount Carrying Value of Liability Cash Paid Non-cash Gains Recognized Three Months Ended June 30, 2022 $ 6,454 $ 6,429 $ 6,272 $ 157 2021 6,400 6,337 5,952 385 Six Months Ended June 30, 2022 $ 6,454 $ 6,429 $ 6,272 $ 157 2021 131,400 129,974 125,952 4,022

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsThe Company's financial instruments consist of cash and cash equivalents, investments, receivables, payables and debt instruments. The Company believes that the carrying values of these instruments, other than the 2023 Notes and 2026 Notes, on the accompanying consolidated balance sheets approximate their fair values. The estimated fair value of the 2023 Notes as of June 30, 2022 was $19.0 million based on quoted market prices (a Level 2 fair value measurement), which compares to the principal amount of $19.5 million. The estimated fair value of the 2026 Notes as of June 30, 2022 was $123.8 million based on quoted market prices (a Level 2 fair value measurement), which compares to the principal amount of $135.0 million.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Common and Preferred Stock The following table provides details with respect to the changes to the number of shares of common stock, $0.01 par value, outstanding during the first six months of 2022 (in thousands): Shares of common stock outstanding – December 31, 2021 61,378 Restricted stock awards, net of forfeitures 773 Shares withheld for taxes on vesting of stock awards (162) Shares of common stock outstanding – June 30, 2022 61,989 As of June 30, 2022 and December 31, 2021, the Company had 25,000,000 shares of preferred stock, $0.01 par value, authorized, with no shares issued or outstanding. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss, reported as a component of stockholders' equity, primarily relates to fluctuations in currency exchange rates against the U.S. dollar as used to translate certain of the international operations of the Company's operating segments. Accumulated other comprehensive loss increased from $66.0 million at December 31, 2021 to $77.9 million at June 30, 2022. For the six months ended June 30, 2022 and 2021, currency translation adjustments recognized as a component of other comprehensive income (loss) were primarily attributable to the United Kingdom and Brazil. During the six months ended June 30, 2022, the exchange rate for the British pound weakened by 10% compared to the U.S. dollar while the Brazilian real strengthened by 7% compared to the U.S. dollar, contributing to other comprehensive loss of $11.8 million. During the six months ended June 30, 2021, the exchange rate for the British pound and the Brazilian real strengthened by 1% and 4%, respectively, compared to the U.S. dollar, contributing to other comprehensive income of $1.6 million.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended June 30, 2022, the Company's income tax expense was $1.8 million on a pre-tax loss of $3.4 million. Income tax expense in the second quarter of 2022 was negatively impacted by valuation allowances recorded against U.S. tax assets as well as certain non-deductible expenses. This compares to an income tax benefit of $3.2 million on a pre-tax loss of $18.5 million, which included certain non-deductible expenses, for the three months ended June 30, 2021. For the six months ended June 30, 2022, the Company's income tax expense was $5.2 million on a pre-tax loss of $9.3 million. Income tax expense in the first six months of 2022 was negatively impacted by valuation allowances recorded against U.S. tax assets as well as certain non-deductible expenses and discrete tax items. This compares to an income tax benefit of $5.5 million on a pre-tax loss of $36.6 million, which included certain non-deductible expenses and discrete tax items, for the six months ended June 30, 2021.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The table below provides a reconciliation of the numerators and denominators of basic and diluted net loss per share for the three and six months ended June 30, 2022 and 2021 (in thousands, except per share amounts): Three Months Ended Six Months Ended 2022 2021 2022 2021 Numerators: Net loss $ (5,144) $ (15,271) $ (14,568) $ (31,081) Less: Income attributable to unvested restricted stock awards — — — — Numerator for basic net loss per share (5,144) (15,271) (14,568) (31,081) Effect of dilutive securities: Unvested restricted stock awards — — — — Numerator for diluted net loss per share $ (5,144) $ (15,271) $ (14,568) $ (31,081) Denominators: Weighted average number of common shares outstanding 61,948 61,335 61,788 61,252 Less: Weighted average number of unvested restricted stock awards outstanding (1,244) (1,018) (1,187) (1,045) Denominator for basic and diluted net loss per share 60,704 60,317 60,601 60,207 Net loss per share: Basic $ (0.08) $ (0.25) $ (0.24) $ (0.52) Diluted (0.08) (0.25) (0.24) (0.52) The calculation of diluted net loss per share for the three and six months ended June 30, 2022 excluded 264 thousand shares and 306 thousand shares, respectively, issuable pursuant to outstanding stock options, due to their antidilutive effect. The calculation of diluted net loss per share for the three and six months ended June 30, 2021 excluded 437 thousand shares and 468 thousand shares, respectively, issuable pursuant to outstanding stock options, due to their antidilutive effect. Additionally, shares issuable upon conversion of both the 2023 Notes and the 2026 Notes were excluded due to, among other factors, their antidilutive effect.

Long-Term Incentive Compensatio

Long-Term Incentive Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Long-Term Incentive Compensation	Long-Term Incentive Compensation The following table presents a summary of activity for stock options, service-based restricted stock and stock unit awards and performance-based stock unit awards for the six months ended June 30, 2022 (in thousands): Stock Options Service-based Restricted Stock Performance- and Service-based Stock Units Outstanding – December 31, 2021 388 993 358 Granted — 785 272 Vested — (544) — Forfeited (141) (12) — Outstanding – June 30, 2022 247 1,222 630 Weighted average grant date fair value (2022 awards) $ 6.51 $ 6.51 The restricted stock program consists of a combination of service-based restricted stock and stock units, as well as performance-based stock units. Service-based restricted stock awards generally vest on a straight-line basis over a term of three years. Service-based stock unit awards generally vest at the end of a one-year period. Performance-based stock unit awards generally vest at the end of a three-year period, with the number of shares ultimately issued under the program dependent upon achievement of predefined specific performance objectives. The performance objective for performance-based awards granted in 2022 and 2021 is the Company's cumulative EBITDA over a three-year period. The performance objective for outstanding awards granted in 2020 is the Company's EBITDA growth rate over a three-year period. In the event the predefined targets are exceeded for any performance-based award, additional shares up to a maximum of 200% of the target award may be granted. Conversely, if actual performance falls below the predefined target, the number of shares vested is reduced. If the actual performance falls below the threshold performance level, no restricted shares will vest. During the first quarters of 2022 and 2021, the Company issued conditional long-term cash incentive awards ("Cash Awards") of $1.5 million and $1.5 million, respectively, with the ultimate dollar amount to be awarded ranging from zero to a maximum of $3.1 million for both the 2022 and 2021 Cash Awards. The performance measure for these Cash Awards is relative total stockholder return compared to a peer group of companies measured over a three-year period. The ultimate dollar amount to be awarded for the 2022 and 2021 Cash Awards is limited to their targeted award value ($1.5 million) if the Company's total stockholder return were to be negative over the performance period. The obligations, if any, related to the Cash Awards are classified as liabilities and recognized over the vesting period. Stock-based compensation expense recognized during the three and six months ended June 30, 2022 totaled $1.7 million and $3.5 million, respectively. Stock-based compensation expense recognized during the three and six months ended June 30, 2021 totaled $1.9 million and $4.7 million, respectively. As of June 30, 2022, there was $10.2 million of pre-tax compensation costs related to service-based and performance-based stock awards, which will be recognized in future periods as vesting conditions are satisfied.

Segments and Related Informatio

Segments and Related Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segments and Related Information	Segments and Related Information The Company operates through three operating segments: Offshore/Manufactured Products, Well Site Services and Downhole Technologies. Financial information by operating segment for the three and six months ended June 30, 2022 and 2021 is summarized in the following tables (in thousands). Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Three Months Ended June 30, 2022 Offshore/Manufactured Products $ 96,467 $ 5,249 $ 9,441 $ 571 $ 552,091 Well Site Services 54,819 7,395 601 2,918 195,444 Downhole Technologies 30,548 4,423 (1,485) 67 257,174 Corporate — 172 (9,647) 39 47,594 Total $ 181,834 $ 17,239 $ (1,090) $ 3,595 $ 1,052,303 Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Three Months Ended June 30, 2021 Offshore/Manufactured Products $ 76,908 $ 5,557 $ 4,810 $ 792 $ 526,842 Well Site Services (1) 42,056 10,642 (11,590) 1,877 216,498 Downhole Technologies 26,760 4,521 (2,295) 197 279,324 Corporate — 189 (8,543) 325 93,060 Total $ 145,724 $ 20,909 $ (17,618) $ 3,191 $ 1,115,724 ________________ (1) Operating loss included non-cash operating lease impairment charges of $2.8 million. Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Six Months Ended June 30, 2022 Offshore/Manufactured Products $ 180,579 $ 10,579 $ 19,637 $ 1,473 $ 552,091 Well Site Services 102,991 15,327 (2,794) 4,466 195,444 Downhole Technologies 62,308 8,807 (2,990) 384 257,174 Corporate — 343 (19,279) 130 47,594 Total $ 345,878 $ 35,056 $ (5,426) $ 6,453 $ 1,052,303 Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Six Months Ended June 30, 2021 Offshore/Manufactured Products $ 137,517 $ 11,026 $ 5,881 $ 1,255 $ 526,842 Well Site Services (1) 81,606 22,110 (21,443) 5,207 216,498 Downhole Technologies 52,190 8,910 (3,910) 280 279,324 Corporate — 383 (17,908) 569 93,060 Total $ 271,313 $ 42,429 $ (37,380) $ 7,311 $ 1,115,724 ________________ (1) Operating loss included non-cash fixed and lease asset impairment charges of $3.4 million. See Note 3, "Asset Impairments and Other Restructuring Items," and Note 4, "Details of Selected Balance Sheet Accounts," for further discussion of these and other charges and benefits recognized in first six months of 2021. The following tables provide supplemental disaggregated revenue from contracts with customers by operating segment for the three and six months ended June 30, 2022 and 2021 (in thousands): Offshore/Manufactured Products Well Site Services Downhole Technologies Total 2022 2021 2022 2021 2022 2021 2022 2021 Three Months Ended June 30 Major revenue categories - Project-driven products $ 41,098 $ 31,826 $ — $ — $ — $ — $ 41,098 $ 31,826 Short-cycle: Completion products and services 15,277 10,447 50,751 39,083 30,548 26,760 96,576 76,290 Drilling services — — 4,068 2,973 — — 4,068 2,973 Other products 8,334 5,583 — — — — 8,334 5,583 Total short-cycle 23,611 16,030 54,819 42,056 30,548 26,760 108,978 84,846 Other products and services 31,758 29,052 — — — — 31,758 29,052 $ 96,467 $ 76,908 $ 54,819 $ 42,056 $ 30,548 $ 26,760 $ 181,834 $ 145,724 Offshore/Manufactured Products Well Site Services Downhole Technologies Total 2022 2021 2022 2021 2022 2021 2022 2021 Six Months Ended June 30 Major revenue categories - Project-driven products $ 74,942 $ 53,200 $ — $ — $ — $ — $ 74,942 $ 53,200 Short-cycle: Completion products and services 28,857 18,561 95,917 77,882 62,308 52,190 187,082 148,633 Drilling services — — 7,074 3,724 — — 7,074 3,724 Other products 15,378 9,719 — — — — 15,378 9,719 Total short-cycle 44,235 28,280 102,991 81,606 62,308 52,190 209,534 162,076 Other products and services 61,402 56,037 — — — — 61,402 56,037 $ 180,579 $ 137,517 $ 102,991 $ 81,606 $ 62,308 $ 52,190 $ 345,878 $ 271,313 Revenues from products and services transferred to customers over time accounted for approximately 64% and 61% of consolidated revenues for the six months ended June 30, 2022 and 2021, respectively. The balance of revenues for the respective periods relates to products and services transferred to customers at a point in time. As of June 30, 2022, the Company had $141.6 million of remaining backlog related to contracts with an original expected duration of greater than one year. Approximately 26% of this remaining backlog is expected to be recognized as revenue over the remaining six months of 2022, with an additional 41% recognized in 2023 and the balance thereafter.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesDuring 2021 and the first six months of 2022, the distribution of COVID-19 vaccines progressed and many government-imposed restrictions were relaxed or rescinded. However, the effects of the COVID-19 pandemic and related economic, business and market disruptions continue and the macro outlook remains uncertain. The most direct impacts that the Company continues to experience are decreased pricing for its products and services due to the timing and rate of activity increases, market pressures driving increased capital discipline by its customers, supply chain disruptions, labor market constraints and inflation in wages, materials, parts, equipment and other costs. While the prices of and demand for crude oil have recovered from the lows seen in the initial stages of the pandemic, further outbreaks or the emergence of new strains of the COVID-19 virus could result in the reimposition of domestic and international regulations directing individuals to stay at home, limiting travel, requiring facility closures and imposing quarantines. Widespread implementation of these or similar restrictions could result in commodity price volatility, reduced demand for the Company's products and services, as well as delays in or inability of the Company to fulfill its contractual obligations to customers, logistic constraints, increases in the Company's costs and workforce and raw material shortages. The Company continues to monitor the effect of the COVID-19 pandemic on its employees, customers, critical suppliers and other stakeholders. The ultimate duration of the COVID-19 pandemic, along with resulting governmental restrictions and related impacts on the prices of and demand for crude oil, the global economy and capital markets remains uncertain. The Company is a party to various pending or threatened claims, lawsuits and administrative proceedings seeking damages or other remedies concerning its commercial operations, products, employees and other matters, including occasional claims by individuals alleging exposure to hazardous materials as a result of the Company's products or operations. Some of these claims relate to matters occurring prior to the acquisition of businesses, and some relate to businesses the Company has sold. In certain cases, the Company is entitled to indemnification from the sellers of businesses and, in other cases, the Company has indemnified the buyers of businesses. Although the Company can give no assurance about the outcome of pending legal and administrative proceedings and the effect such outcomes may have on the Company, management believes that any ultimate liability resulting from the outcome of such proceedings, to the extent not otherwise provided for or covered by indemnity or insurance, will not have a material adverse effect on the Company's consolidated financial position, results of operations or liquidity. Following the GEODynamics Acquisition in January 2018, the Company determined that certain steel products historically imported by GEODynamics from China for use in its manufacturing process were potentially subject to anti-dumping and countervailing duties. Following an internal review, the Company voluntarily disclosed this matter to U.S. Customs and Border Protection ("CBP") and, in December 2020, reached an agreement with CBP to settle this matter for $7.3 million. The Company asserted indemnification claims for such settlement amount and related costs of $7.5 million against the GEO Seller and pursed its right to set-off such amounts against payments due under the GEO Note. As of June 28, 2022, the Company had reduced the carrying amount of such note in its consolidated balance sheet to $17.5 million, which was the Company's then-current best estimate of what was owed after set-off for such indemnification matters prior to the settlement of the counterclaim described below. In August 2020, the GEO Seller filed a breach of contract suit against the Company and one of its wholly-owned subsidiaries in federal court alleging that payments due under GEO Note were not repaid in accordance with the terms of such note. Additionally, the GEO Seller alleged that it was entitled to approximately $19.0 million in U.S. federal income tax carryback claims received by the Company under the provisions of the CARES Act. On February 15, 2021, following the federal magistrate's report and recommendation that the federal district court dismiss the GEO Seller's lawsuit for lack of federal jurisdiction, the GEO Seller dismissed the federal lawsuit without prejudice and refiled its lawsuit in state court. On September 20, 2021, the state court denied the GEO Seller's motion for partial summary judgement. In December 2021, the Company filed a counterclaim against the GEO Seller alleging material misrepresentations and breaches of warranties by the GEO Seller with respect to GEODynamics' liability for anti-dumping and countervailing duties. On June 28, 2022, the Company entered into a settlement agreement (the "Settlement Agreement") with the GEO Seller, related to the matters discussed above (the "Settlement"), including the full and final settlement of all amounts due pursuant to the GEO Note ($17.5 million in principal amount outstanding as of June 28, 2022) and related accrued interest. Pursuant to the Settlement Agreement, the Company and the GEO Seller agreed to the resolution of such disputes through, among other matters, (i) the payment by the Company of $10.0 million in cash to the GEO Seller and (ii) the issuance by the Company of 1,909,722 shares of its common stock to the GEO Seller (having a market value of $10.3 million on the date of issuance). The payment and issuance of common stock were made on July 1, 2022. In connection with the execution of the Settlement Agreement, the Company recognized a non-cash settlement charge of $0.6 million in the second quarter of 2022. The final settlement will be reflected in the third quarter of 2022.

Asset Impairments and Other R_2

Asset Impairments and Other Restructuring Items (Tables)	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Schedule of Asset Impairment Charges	In this regard, during the first six months of 2021, the Company continued its restructuring efforts, closed additional facilities in the United States and continued to assess the carrying value of its assets based on management actions and the industry outlook regarding demand for and pricing of its products and services, and recorded the following charges (in thousands): Offshore/ Manufactured Products Well Site Services Downhole Technologies Corporate Pre-tax Total Tax After-tax Total First quarter 2021 Impairments of fixed assets (Note 4) $ — $ 650 $ — $ — $ 650 $ 137 $ 513 Severance and restructuring costs 282 1,306 275 1,555 3,418 717 2,701 Second quarter 2021 Impairments of operating lease assets (Note 4) $ — $ 2,794 $ — $ — $ 2,794 $ 587 $ 2,207 Severance and restructuring costs — 2,351 203 — 2,554 536 2,018

Details of Selected Balance S_2

Details of Selected Balance Sheet Accounts (Tables)	6 Months Ended
	Jun. 30, 2022
Details of Selected Balance Sheet Accounts [Abstract]
Schedule of Accounts Receivable, Net	Additional information regarding selected balance sheet accounts as of June 30, 2022 and December 31, 2021 is presented below (in thousands): June 30, December 31, Accounts receivable, net: Trade $ 135,121 $ 116,434 Unbilled revenue 21,640 24,389 Contract assets 42,876 39,755 Other 9,916 9,973 Total accounts receivable 209,553 190,551 Allowance for doubtful accounts (5,166) (4,471) $ 204,387 $ 186,080 Allowance for doubtful accounts as a percentage of total accounts receivable 2 % 2 %
Schedule of Contract with Customer, Asset and Liability	June 30, December 31, Deferred revenue (contract liabilities) $ 47,883 $43,236
Summary of Activity in Allowance for Doubtful Accounts	The following provides a summary of activity in the allowance for doubtful accounts for the six months ended June 30, 2022 and 2021 (in thousands): Six Months Ended June 30, 2022 2021 Allowance for doubtful accounts – January 1 $ 4,471 $ 8,304 Provisions 1,044 61 Write-offs (629) (815) Other 280 148 Allowance for doubtful accounts – June 30 $ 5,166 $ 7,698
Schedule of Inventory, Net	June 30, December 31, Inventories, net: Finished goods and purchased products $ 90,948 $ 87,934 Work in process 31,464 24,722 Raw materials 94,558 96,357 Total inventories 216,970 209,013 Allowance for excess or obsolete inventory (37,151) (40,440) $ 179,819 $ 168,573
Schedule of Property, Plant and Equipment, Net	June 30, December 31, Property, plant and equipment, net: Property, plant and equipment $ 1,126,777 $ 1,151,533 Accumulated depreciation (811,879) (812,950) $ 314,898 $ 338,583
Schedule of Finite-Lived Intangible Assets	June 30, 2022 December 31, 2021 Gross Accumulated Net Carrying Amount Gross Accumulated Net Carrying Amount Other intangible assets: Customer relationships $ 170,933 $ 72,305 $ 98,628 $ 168,284 $ 66,734 $ 101,550 Patents/Technology/Know-how 79,872 36,234 43,638 78,821 33,151 45,670 Tradenames and other 54,158 16,833 37,325 53,708 15,179 38,529 $ 304,963 $ 125,372 $ 179,591 $ 300,813 $ 115,064 $ 185,749
Schedule of Other Noncurrent Assets	June 30, December 31, Other noncurrent assets: Deferred compensation plan $ 19,015 $ 23,348 Deferred financing costs 2,308 2,674 Deferred income taxes 1,269 1,878 Other 4,760 4,989 $ 27,352 $ 32,889
Schedule of Accrued Liabilities	June 30, December 31, Accrued liabilities: Accrued compensation $ 20,924 $ 20,904 Accrued taxes, other than income taxes 7,579 5,130 Insurance liabilities 5,073 6,361 Accrued interest 3,982 3,629 Accrued commissions 2,380 2,194 Other 6,406 5,183 $ 46,344 $ 43,401

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of June 30, 2022 and December 31, 2021, long-term debt consisted of the following (in thousands): June 30, December 31, Revolving credit facilities (1) $ — $ — 2026 Notes (2) 131,724 131,291 2023 Notes (3) 19,445 25,802 Promissory note (4) 17,534 17,534 Other debt and finance lease obligations 3,763 4,123 Total debt 172,466 178,750 Less: Current portion (37,595) (18,262) Total long-term debt $ 134,871 $ 160,488 ____________________ (1) Unamortized deferred financing costs of $2.3 million and $2.7 million as of June 30, 2022 and December 31, 2021, respectively, are presented in other noncurrent assets. (2) The outstanding principal amount of the 2026 Notes was $135.0 million as of June 30, 2022 and December 31, 2021. (3) The outstanding principal amount of the 2023 Notes was $19.5 million and $26.0 million as of June 30, 2022 and December 31, 2021, respectively. (4) The promissory note was settled on July 1, 2022. See Note 12, "Commitments and Contingencies" for additional discussion. The following table provides a summary of the Company's purchases of outstanding 2023 Notes during the three and six months ended June 30, 2022 and 2021, with non-cash gains reported within other income, net (in thousands): Principal Amount Carrying Value of Liability Cash Paid Non-cash Gains Recognized Three Months Ended June 30, 2022 $ 6,454 $ 6,429 $ 6,272 $ 157 2021 6,400 6,337 5,952 385 Six Months Ended June 30, 2022 $ 6,454 $ 6,429 $ 6,272 $ 157 2021 131,400 129,974 125,952 4,022

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Common Stock Outstanding Roll Forward	The following table provides details with respect to the changes to the number of shares of common stock, $0.01 par value, outstanding during the first six months of 2022 (in thousands): Shares of common stock outstanding – December 31, 2021 61,378 Restricted stock awards, net of forfeitures 773 Shares withheld for taxes on vesting of stock awards (162) Shares of common stock outstanding – June 30, 2022 61,989

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The table below provides a reconciliation of the numerators and denominators of basic and diluted net loss per share for the three and six months ended June 30, 2022 and 2021 (in thousands, except per share amounts): Three Months Ended Six Months Ended 2022 2021 2022 2021 Numerators: Net loss $ (5,144) $ (15,271) $ (14,568) $ (31,081) Less: Income attributable to unvested restricted stock awards — — — — Numerator for basic net loss per share (5,144) (15,271) (14,568) (31,081) Effect of dilutive securities: Unvested restricted stock awards — — — — Numerator for diluted net loss per share $ (5,144) $ (15,271) $ (14,568) $ (31,081) Denominators: Weighted average number of common shares outstanding 61,948 61,335 61,788 61,252 Less: Weighted average number of unvested restricted stock awards outstanding (1,244) (1,018) (1,187) (1,045) Denominator for basic and diluted net loss per share 60,704 60,317 60,601 60,207 Net loss per share: Basic $ (0.08) $ (0.25) $ (0.24) $ (0.52) Diluted (0.08) (0.25) (0.24) (0.52)

Long-Term Incentive Compensat_2

Long-Term Incentive Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following table presents a summary of activity for stock options, service-based restricted stock and stock unit awards and performance-based stock unit awards for the six months ended June 30, 2022 (in thousands): Stock Options Service-based Restricted Stock Performance- and Service-based Stock Units Outstanding – December 31, 2021 388 993 358 Granted — 785 272 Vested — (544) — Forfeited (141) (12) — Outstanding – June 30, 2022 247 1,222 630 Weighted average grant date fair value (2022 awards) $ 6.51 $ 6.51

Segments and Related Informat_2

Segments and Related Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Financial information by operating segment for the three and six months ended June 30, 2022 and 2021 is summarized in the following tables (in thousands). Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Three Months Ended June 30, 2022 Offshore/Manufactured Products $ 96,467 $ 5,249 $ 9,441 $ 571 $ 552,091 Well Site Services 54,819 7,395 601 2,918 195,444 Downhole Technologies 30,548 4,423 (1,485) 67 257,174 Corporate — 172 (9,647) 39 47,594 Total $ 181,834 $ 17,239 $ (1,090) $ 3,595 $ 1,052,303 Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Three Months Ended June 30, 2021 Offshore/Manufactured Products $ 76,908 $ 5,557 $ 4,810 $ 792 $ 526,842 Well Site Services (1) 42,056 10,642 (11,590) 1,877 216,498 Downhole Technologies 26,760 4,521 (2,295) 197 279,324 Corporate — 189 (8,543) 325 93,060 Total $ 145,724 $ 20,909 $ (17,618) $ 3,191 $ 1,115,724 ________________ (1) Operating loss included non-cash operating lease impairment charges of $2.8 million. Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Six Months Ended June 30, 2022 Offshore/Manufactured Products $ 180,579 $ 10,579 $ 19,637 $ 1,473 $ 552,091 Well Site Services 102,991 15,327 (2,794) 4,466 195,444 Downhole Technologies 62,308 8,807 (2,990) 384 257,174 Corporate — 343 (19,279) 130 47,594 Total $ 345,878 $ 35,056 $ (5,426) $ 6,453 $ 1,052,303 Revenues Depreciation and amortization Operating income (loss) Capital expenditures Total assets Six Months Ended June 30, 2021 Offshore/Manufactured Products $ 137,517 $ 11,026 $ 5,881 $ 1,255 $ 526,842 Well Site Services (1) 81,606 22,110 (21,443) 5,207 216,498 Downhole Technologies 52,190 8,910 (3,910) 280 279,324 Corporate — 383 (17,908) 569 93,060 Total $ 271,313 $ 42,429 $ (37,380) $ 7,311 $ 1,115,724 ________________ (1) Operating loss included non-cash fixed and lease asset impairment charges of $3.4 million.
Supplemental Revenue Information by Segments	The following tables provide supplemental disaggregated revenue from contracts with customers by operating segment for the three and six months ended June 30, 2022 and 2021 (in thousands): Offshore/Manufactured Products Well Site Services Downhole Technologies Total 2022 2021 2022 2021 2022 2021 2022 2021 Three Months Ended June 30 Major revenue categories - Project-driven products $ 41,098 $ 31,826 $ — $ — $ — $ — $ 41,098 $ 31,826 Short-cycle: Completion products and services 15,277 10,447 50,751 39,083 30,548 26,760 96,576 76,290 Drilling services — — 4,068 2,973 — — 4,068 2,973 Other products 8,334 5,583 — — — — 8,334 5,583 Total short-cycle 23,611 16,030 54,819 42,056 30,548 26,760 108,978 84,846 Other products and services 31,758 29,052 — — — — 31,758 29,052 $ 96,467 $ 76,908 $ 54,819 $ 42,056 $ 30,548 $ 26,760 $ 181,834 $ 145,724 Offshore/Manufactured Products Well Site Services Downhole Technologies Total 2022 2021 2022 2021 2022 2021 2022 2021 Six Months Ended June 30 Major revenue categories - Project-driven products $ 74,942 $ 53,200 $ — $ — $ — $ — $ 74,942 $ 53,200 Short-cycle: Completion products and services 28,857 18,561 95,917 77,882 62,308 52,190 187,082 148,633 Drilling services — — 7,074 3,724 — — 7,074 3,724 Other products 15,378 9,719 — — — — 15,378 9,719 Total short-cycle 44,235 28,280 102,991 81,606 62,308 52,190 209,534 162,076 Other products and services 61,402 56,037 — — — — 61,402 56,037 $ 180,579 $ 137,517 $ 102,991 $ 81,606 $ 62,308 $ 52,190 $ 345,878 $ 271,313

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) - USD ($) $ in Thousands		6 Months Ended
	Apr. 14, 2022	Jun. 30, 2022	Jun. 30, 2021
Business Acquisition [Line Items]
Payments to acquire business		$ 8,125	$ 0
E-Flow Control Holdings Limited
Business Acquisition [Line Items]
Payments to acquire business	$ 8,100

Asset Impairments and Other R_3

Asset Impairments and Other Restructuring Items - Narrative (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended	6 Months Ended
	Jul. 01, 2022	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
Impaired Long-Lived Assets Held and Used [Line Items]
Percentage decline in crude oil prices (as a percent)		50%
Reduction of payroll tax expense			$ 2,800	$ 7,600
Long-term debt					$ 134,871	$ 160,488
Promissory note
Impaired Long-Lived Assets Held and Used [Line Items]
Long-term debt					$ 17,500
Promissory note | Subsequent Event
Impaired Long-Lived Assets Held and Used [Line Items]
Extinguishment of debt, shares issued (in shares)	1,909,722
Extinguishment of debt	$ 10,300
Payment of promissory note to seller of GEODynamics, Inc.	10,000
Long-term debt	17,500
Accrued interest	$ 2,200

Asset Impairments and Other R_4

Asset Impairments and Other Restructuring Items - Schedule of Asset Impairments (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of fixed asset		$ 650
Impairment of fixed asset, tax		137
Impairment of fixed asset, net of tax		513
Impairment of severance and restructuring costs	$ 2,554	3,418
Impairment of severance and restructuring costs, tax	536	717
Impairment of severance and restructuring costs, net of tax	2,018	2,701
Impairment of operating lease assets	2,794
Impairment of operating lease assets, tax	587
Impairment of operating lease assets, net of tax	2,207
Corporate
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of fixed asset		0
Impairment of severance and restructuring costs	0	1,555
Impairment of operating lease assets	0
Offshore/ Manufactured Products | Operating Segments
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of fixed asset		0
Impairment of severance and restructuring costs	0	282
Impairment of operating lease assets	0
Well Site Services
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of operating lease assets	2,800	700
Well Site Services | Operating Segments
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of fixed asset		650
Impairment of severance and restructuring costs	2,351	1,306
Impairment of operating lease assets	2,794
Downhole Technologies | Operating Segments
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of fixed asset		0
Impairment of severance and restructuring costs	203	$ 275
Impairment of operating lease assets	$ 0

Details of Selected Balance S_3

Details of Selected Balance Sheet Accounts - Accounts Receivable (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	$ 209,553	$ 190,551
Allowance for doubtful accounts	(5,166)	(4,471)
Accounts receivable, net	$ 204,387	$ 186,080
Allowance for doubtful accounts as a percentage of total accounts receivable	2%	2%
Trade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	$ 135,121	$ 116,434
Unbilled revenue
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	21,640	24,389
Contract assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	42,876	39,755
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	$ 9,916	$ 9,973

Details of Selected Balance S_4

Details of Selected Balance Sheet Accounts - Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Details of Selected Balance Sheet Accounts [Abstract]
Deferred revenue (contract liabilities)	$ 47,883	$ 43,236

Details of Selected Balance S_5

Details of Selected Balance Sheet Accounts - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Concentration Risk [Line Items]
Increase in contract with customer, asset				$ 3,100
Contract with customer, asset, increase due to revenue recognized				30,100
Contract with customer, asset, reclassified to receivable				(26,700)
Increased (decreased) deferred revenue				4,647	$ 1,780
Contract with customer, liability, increase due to billings				16,200
Contract with customer, liability, revenue recognized				11,200
Depreciation	$ 12,000	$ 15,600		24,600	32,000
Impairment of operating lease assets		2,794
Amortization	$ 5,300	5,300
Amortization of intangible assets				$ 10,400	10,500
Well Site Services
Concentration Risk [Line Items]
Impairment of operating lease assets		2,800	$ 700
Operating lease, liability		$ 1,900			$ 1,900
United States | Geographic Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk (as a percent)				74%
United Kingdom | Geographic Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk (as a percent)				14%

Details of Selected Balance S_6

Details of Selected Balance Sheet Accounts - Activity in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts beginning balance	$ 4,471	$ 8,304
Provisions	1,044	61
Write-offs	(629)	(815)
Other	280	148
Allowance for doubtful accounts ending balance	$ 5,166	$ 7,698

Details of Selected Balance S_7

Details of Selected Balance Sheet Accounts - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Details of Selected Balance Sheet Accounts [Abstract]
Finished goods and purchased products	$ 90,948	$ 87,934
Work in process	31,464	24,722
Raw materials	94,558	96,357
Total inventories	216,970	209,013
Allowance for excess or obsolete inventory	(37,151)	(40,440)
Inventories, net	$ 179,819	$ 168,573

Details of Selected Balance S_8

Details of Selected Balance Sheet Accounts - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Details of Selected Balance Sheet Accounts [Abstract]
Property, plant and equipment	$ 1,126,777	$ 1,151,533
Accumulated depreciation	(811,879)	(812,950)
Property, plant, and equipment, net	$ 314,898	$ 338,583

Details of Selected Balance S_9

Details of Selected Balance Sheet Accounts - Other Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 304,963	$ 300,813
Accumulated Amortization	125,372	115,064
Net Carrying Amount	179,591	185,749
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	170,933	168,284
Accumulated Amortization	72,305	66,734
Net Carrying Amount	98,628	101,550
Patents/Technology/Know-how
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	79,872	78,821
Accumulated Amortization	36,234	33,151
Net Carrying Amount	43,638	45,670
Tradenames and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	54,158	53,708
Accumulated Amortization	16,833	15,179
Net Carrying Amount	$ 37,325	$ 38,529

Details of Selected Balance _10

Details of Selected Balance Sheet Accounts - Other Noncurrent Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Details of Selected Balance Sheet Accounts [Abstract]
Deferred compensation plan	$ 19,015	$ 23,348
Deferred financing costs	2,308	2,674
Deferred income taxes	1,269	1,878
Other	4,760	4,989
Other noncurrent assets	$ 27,352	$ 32,889

Details of Selected Balance _11

Details of Selected Balance Sheet Accounts - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Details of Selected Balance Sheet Accounts [Abstract]
Accrued compensation	$ 20,924	$ 20,904
Accrued taxes, other than income taxes	7,579	5,130
Insurance liabilities	5,073	6,361
Accrued interest	3,982	3,629
Accrued commissions	2,380	2,194
Other	6,406	5,183
Accrued liabilities	$ 46,344	$ 43,401

Long-term Debt - Summary of Lon

Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 172,466	$ 178,750
Less: Current portion	(37,595)	(18,262)
Total long-term debt	134,871	160,488
Unamortized debt issuance costs	2,300	2,700
4.75% Convertible Senior Notes
Debt Instrument [Line Items]
Total debt	131,724	131,291
Long-term debt, gross	135,000	135,000
1.5% Convertible Unsecured Senior Notes
Debt Instrument [Line Items]
Total debt	19,445	25,802
Long-term debt, gross	19,500	26,000
Promissory note
Debt Instrument [Line Items]
Total debt	17,534	17,534
Other debt and finance lease obligations
Debt Instrument [Line Items]
Total debt	3,763	4,123
Revolving Credit Facility
Debt Instrument [Line Items]
Total debt	$ 0	$ 0

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details)				1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 19, 2021 USD ($) $ / shares	Feb. 10, 2021 USD ($)	Jan. 30, 2018 USD ($) $ / shares	Jan. 31, 2018 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding					$ 18,600,000		$ 18,600,000
Repayments of convertible debt							6,272,000	$ 125,952,000
Conversion price (in dollars per share) | $ / shares	$ 10.49
Debt instrument carried value					134,871,000		134,871,000		$ 160,488,000
1.5% Convertible Unsecured Senior Notes
Debt Instrument [Line Items]
Principal amount					19,500,000		19,500,000		$ 26,000,000
Promissory Note
Debt Instrument [Line Items]
Debt instrument, face amount				$ 25,000,000
Stated interest rate (as a percent)				2.50%
Settlement costs and expenses				$ 7,500,000
Debt instrument carried value					17,500,000		17,500,000
4.75% Convertible Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 135,000,000
Stated interest rate (as a percent)	4.75%					4.75%		4.75%
Proceeds from debt, net	$ 130,600,000
Conversion ratio	0.0953516
Principal amount					$ 135,000,000		$ 135,000,000
1.5% Convertible Unsecured Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount			$ 200,000,000
Stated interest rate (as a percent)			1.50%		1.50%		1.50%
Repayments of convertible debt	$ 120,000,000				$ 6,272,000	$ 5,952,000	$ 6,272,000	$ 125,952,000
Debt instrument, repurchased face amount	$ 125,000,000
Conversion ratio			0.0222748
Conversion price (in dollars per share) | $ / shares			$ 44.89
Principal amount					19,500,000		19,500,000
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term line of credit					0		0
Remaining borrowing capacity					$ 61,800,000		$ 61,800,000
Revolving Credit Facility | Asset-based Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 125,000,000
Debt instrument, springing maturity, term (in days)		91 days
Debt instrument, amount of indebtedness subject to springing maturity		$ 17,500,000
Debt instrument, covenant, minimum fixed charge coverage ratio		1
Debt instrument, percentage of borrowing base outstanding subject to covenant (as a percent)		15%
Debt instrument, amount of borrowing base outstanding subject to covenant		$ 14,100,000
Revolving Credit Facility | Asset-based Revolving Credit Facility | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		0.50%
Revolving Credit Facility | Asset-based Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee percentage (as a percent)		0.375%
Revolving Credit Facility | Asset-based Revolving Credit Facility | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.75%
Revolving Credit Facility | Asset-based Revolving Credit Facility | Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.75%
Revolving Credit Facility | Asset-based Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee percentage (as a percent)		0.50%
Revolving Credit Facility | Asset-based Revolving Credit Facility | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		3.25%
Revolving Credit Facility | Asset-based Revolving Credit Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.25%
Letter of Credit | Asset-based Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 50,000,000

Long-term Debt - Repurchase of

Long-term Debt - Repurchase of Outstanding Debt (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Mar. 19, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt Instrument [Line Items]
Cash Paid				$ 6,272	$ 125,952
Non-cash Gains Recognized				157	4,022
1.5% Convertible Unsecured Senior Notes
Debt Instrument [Line Items]
Principal Amount		$ 6,454	$ 6,400	6,454	131,400
Carrying Value of Liability		6,429	6,337	6,429	129,974
Cash Paid	$ 120,000	6,272	5,952	6,272	125,952
Non-cash Gains Recognized		$ 157	$ 385	$ 157	$ 4,022

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Millions	Jun. 30, 2022 USD ($)
1.5% Convertible Unsecured Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount	$ 19.5
4.75% Convertible Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount	135
Fair Value, Inputs, Level 2 | Fair Value | 1.5% Convertible Unsecured Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	19
Fair Value, Inputs, Level 2 | Fair Value | 4.75% Convertible Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 123.8

Stockholders' Equity - Common a

Stockholders' Equity - Common and Preferred Stock (Details) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock Outstanding Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2022 shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares of common stock outstanding beginning period (in shares)	61,378
Restricted stock awards, net of forfeitures (in shares)	773
Shares withheld for taxes on vesting of stock awards (in shares)	(162)
Shares of common stock outstanding ending period (in shares)	61,989

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity	$ 671,941	$ 721,934	$ 671,941	$ 721,934	$ 688,108	$ 695,826	$ 732,162	$ 757,631
Currency translation adjustments	$ (12,680)	$ 3,160	$ (11,819)	$ 1,631
United Kingdom, Pounds
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exchange rate strengthened (weakened)	(10.00%)	1%	(10.00%)	1%
Brazil, Brazil Real
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exchange rate strengthened (weakened)	7%	4%	7%	4%
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity	$ (77,850)	$ (69,754)	$ (77,850)	$ (69,754)	$ (65,170)	$ (66,031)	$ (72,914)	$ (71,385)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 1,792	$ (3,226)	$ 5,233	$ (5,543)
Income (loss) before income taxes	$ (3,352)	$ (18,497)	$ (9,335)	$ (36,624)

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerators:
Net loss	$ (5,144)	$ (15,271)	$ (14,568)	$ (31,081)
Less: Income attributable to unvested restricted stock awards	0	0	0	0
Numerator for basic net loss per share	(5,144)	(15,271)	(14,568)	(31,081)
Effect of dilutive securities:
Unvested restricted stock awards	0	0	0	0
Numerator for diluted net loss per share	$ (5,144)	$ (15,271)	$ (14,568)	$ (31,081)
Denominators:
Weighted average number of common shares outstanding (in shares)	61,948	61,335	61,788	61,252
Less: Weighted average number of unvested restricted stock awards outstanding (in shares)	(1,244)	(1,018)	(1,187)	(1,045)
Denominator for basic loss per share (in shares)	60,704	60,317	60,601	60,207
Denominator for diluted net loss per share (in shares)	60,704	60,317	60,601	60,207
Net loss per share:
Basic (in dollars per share)	$ (0.08)	$ (0.25)	$ (0.24)	$ (0.52)
Diluted (in dollars per share)	$ (0.08)	$ (0.25)	$ (0.24)	$ (0.52)

Net Loss Per Share - Narrative

Net Loss Per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	264	437	306	468

Long-Term Incentive Compensat_3

Long-Term Incentive Compensation - Restricted Stock Awards and Related Information (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Stock Options
Outstanding, beginning balance (in shares)	388
Granted (in shares)	0
Vested (in shares)	0
Forfeited (in shares)	(141)
Outstanding, ending balance (in shares)	247
Weighted average grant date fair value (in dollars per share) | $ / shares
Service-based Restricted Stock
Number of Shares
Outstanding, beginning balance (in shares)	993
Granted (in shares)	785
Vested (in shares)	(544)
Forfeited (in shares)	(12)
Outstanding, ending balance (in shares)	1,222
Weighted average grant date fair value (in dollars per share) | $ / shares	$ 6.51
Performance- and Service-based Stock Units
Number of Shares
Outstanding, beginning balance (in shares)	358
Granted (in shares)	272
Vested (in shares)	0
Forfeited (in shares)	0
Outstanding, ending balance (in shares)	630
Weighted average grant date fair value (in dollars per share) | $ / shares	$ 6.51

Long-Term Incentive Compensat_4

Long-Term Incentive Compensation - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (in years)			3 years
Deferred compensation arrangement, recorded liability					$ 1,500,000	$ 1,500,000
Stock-based compensation expense	$ 1,700,000	$ 1,900,000	$ 3,500,000	$ 4,700,000
Share-based compensation costs not yet recognized	$ 10,200,000		$ 10,200,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement, potential maximum liability					0	0
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement, potential maximum liability					$ 3,100,000	$ 3,100,000
Service-based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			3 years
Service-based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			1 year
Performance-based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			3 years
Performance period (in years)			3 years
Percentage of additional performance-based awards issued (as a percent)	200%		200%

Segments and Related Informat_3

Segments and Related Information - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021
Segment Reporting [Abstract]
Number of reportable segments | segment	3
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation, percentage of obligations, remaining fiscal year (as a percent)	26%
Revenue, remaining performance obligation, percentage of obligations, remaining in year two (as a percent)	41%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation | $	$ 141.6
Revenue, remaining performance obligation, expected timing of satisfaction, period (in years)	1 year
Transferred over Time
Segment Reporting Information [Line Items]
Revenue from contract with customer, percentage of revenue (as a percent)	64%	61%

Segments and Related Informat_4

Segments and Related Information - Financial Information by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 181,834	$ 145,724		$ 345,878	$ 271,313
Depreciation and amortization	17,239	20,909		35,056	42,429
Operating income (loss)	(1,090)	(17,618)		(5,426)	(37,380)
Capital expenditures	3,595	3,191		6,453	7,311
Total assets	1,052,303	1,115,724		1,052,303	1,115,724	$ 1,085,748
Impairment of operating lease assets		2,794
Impairments of fixed and lease assets	0	2,794		0	3,444
Corporate
Segment Reporting Information [Line Items]
Revenues	0	0		0	0
Depreciation and amortization	172	189		343	383
Operating income (loss)	(9,647)	(8,543)		(19,279)	(17,908)
Capital expenditures	39	325		130	569
Total assets	47,594	93,060		47,594	93,060
Impairment of operating lease assets		0
Offshore/Manufactured Products
Segment Reporting Information [Line Items]
Revenues	96,467	76,908		180,579	137,517
Offshore/Manufactured Products | Operating Segments
Segment Reporting Information [Line Items]
Revenues	96,467	76,908		180,579	137,517
Depreciation and amortization	5,249	5,557		10,579	11,026
Operating income (loss)	9,441	4,810		19,637	5,881
Capital expenditures	571	792		1,473	1,255
Total assets	552,091	526,842		552,091	526,842
Impairment of operating lease assets		0
Well Site Services
Segment Reporting Information [Line Items]
Revenues	54,819	42,056		102,991	81,606
Impairment of operating lease assets		2,800	$ 700
Impairments of fixed and lease assets				3,400
Well Site Services | Operating Segments
Segment Reporting Information [Line Items]
Revenues	54,819	42,056		102,991	81,606
Depreciation and amortization	7,395	10,642		15,327	22,110
Operating income (loss)	601	(11,590)		(2,794)	(21,443)
Capital expenditures	2,918	1,877		4,466	5,207
Total assets	195,444	216,498		195,444	216,498
Impairment of operating lease assets		2,794
Downhole Technologies
Segment Reporting Information [Line Items]
Revenues	30,548	26,760		62,308	52,190
Downhole Technologies | Operating Segments
Segment Reporting Information [Line Items]
Revenues	30,548	26,760		62,308	52,190
Depreciation and amortization	4,423	4,521		8,807	8,910
Operating income (loss)	(1,485)	(2,295)		(2,990)	(3,910)
Capital expenditures	67	197		384	280
Total assets	$ 257,174	279,324		$ 257,174	$ 279,324
Impairment of operating lease assets		$ 0

Segments and Related Informat_5

Segments and Related Information - Supplemental Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 181,834	$ 145,724	$ 345,878	$ 271,313
Project-driven products
Segment Reporting Information [Line Items]
Revenues	41,098	31,826	74,942	53,200
Total short-cycle
Segment Reporting Information [Line Items]
Revenues	108,978	84,846	209,534	162,076
Completion products and services
Segment Reporting Information [Line Items]
Revenues	96,576	76,290	187,082	148,633
Drilling services
Segment Reporting Information [Line Items]
Revenues	4,068	2,973	7,074	3,724
Other products
Segment Reporting Information [Line Items]
Revenues	8,334	5,583	15,378	9,719
Other products and services
Segment Reporting Information [Line Items]
Revenues	31,758	29,052	61,402	56,037
Offshore/Manufactured Products
Segment Reporting Information [Line Items]
Revenues	96,467	76,908	180,579	137,517
Offshore/Manufactured Products | Project-driven products
Segment Reporting Information [Line Items]
Revenues	41,098	31,826	74,942	53,200
Offshore/Manufactured Products | Total short-cycle
Segment Reporting Information [Line Items]
Revenues	23,611	16,030	44,235	28,280
Offshore/Manufactured Products | Completion products and services
Segment Reporting Information [Line Items]
Revenues	15,277	10,447	28,857	18,561
Offshore/Manufactured Products | Drilling services
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Offshore/Manufactured Products | Other products
Segment Reporting Information [Line Items]
Revenues	8,334	5,583	15,378	9,719
Offshore/Manufactured Products | Other products and services
Segment Reporting Information [Line Items]
Revenues	31,758	29,052	61,402	56,037
Well Site Services
Segment Reporting Information [Line Items]
Revenues	54,819	42,056	102,991	81,606
Well Site Services | Project-driven products
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Well Site Services | Total short-cycle
Segment Reporting Information [Line Items]
Revenues	54,819	42,056	102,991	81,606
Well Site Services | Completion products and services
Segment Reporting Information [Line Items]
Revenues	50,751	39,083	95,917	77,882
Well Site Services | Drilling services
Segment Reporting Information [Line Items]
Revenues	4,068	2,973	7,074	3,724
Well Site Services | Other products
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Well Site Services | Other products and services
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Downhole Technologies
Segment Reporting Information [Line Items]
Revenues	30,548	26,760	62,308	52,190
Downhole Technologies | Project-driven products
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Downhole Technologies | Total short-cycle
Segment Reporting Information [Line Items]
Revenues	30,548	26,760	62,308	52,190
Downhole Technologies | Completion products and services
Segment Reporting Information [Line Items]
Revenues	30,548	26,760	62,308	52,190
Downhole Technologies | Drilling services
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Downhole Technologies | Other products
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Downhole Technologies | Other products and services
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands		1 Months Ended			3 Months Ended
	Jul. 01, 2022	Dec. 31, 2020	Aug. 31, 2020	Jan. 31, 2018	Jun. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Payments for settlements		$ 7,300
Long-term debt					$ 134,871	$ 160,488
Income tax carryback claims, CARES Act			$ 19,000
Promissory Note
Business Acquisition [Line Items]
Settlement costs and expenses				$ 7,500
Long-term debt					17,500
Extinguishment of debt, noncash settlement costs					$ 600
Promissory Note | Subsequent Event
Business Acquisition [Line Items]
Long-term debt	$ 17,500
Payment of promissory note to seller of GEODynamics, Inc.	$ 10,000
Extinguishment of debt, shares issued (in shares)	1,909,722
Extinguishment of debt	$ 10,300

Uncategorized Items - ois-20220

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]