Forbes Energy Services (FLSS) 10-Q 15 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 10, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Forbes Energy Services Ltd.
Entity Central Index Key	1,434,842
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding (in shares)		5,336,397

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 7,572	$ 5,465
Cash - restricted	25,601	30,015
Accounts receivable - trade, net	26,623	24,341
Accounts receivable - other	207	496
Prepaid expenses and other current assets	8,926	11,212
Total current assets	68,929	71,529
Property and equipment, net	115,401	117,191
Intangible assets, net	11,572	11,852
Other assets	1,104	1,185
Total assets	197,006	201,757
Current liabilities
Current portions of long-term debt	5,097	7,566
Accounts payable - trade	11,206	7,497
Accounts payable - related parties	1	11
Accrued interest payable	991	998
Accrued expenses	12,268	11,084
Total current liabilities	29,563	27,156
Long-term debt, net of current portion	52,447	51,288
Deferred tax liability	358	379
Total liabilities	82,368	78,823
Commitments and contingencies (Note 8)
Common stock, $0.01 par value, 40,000 shares authorized, 5,336 shares issued and outstanding at March 31, 2018 and December 31, 2017	53	53
Additional paid-in capital	149,117	148,866
Accumulated deficit	(34,532)	(25,985)
Total stockholders’ equity	114,638	122,934
Total liabilities and stockholders’ equity	$ 197,006	$ 201,757

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	5,336,000	5,336,000
Common stock, shares outstanding (in shares)	5,336,000	5,336,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Expenses
General and administrative	$ 4,888	$ 4,512
Depreciation and amortization	7,163	12,068
Operating loss	(6,165)	(13,621)
Other income (expense)
Pre-tax loss	(8,530)	(22,409)
Net loss	(8,547)
Successor
Revenues
Well servicing	22,857
Fluid logistics	12,735
Total revenues	35,592
Expenses
Well servicing	19,017
Fluid logistics	10,689
General and administrative	4,888
Depreciation and amortization	7,163
Total expenses	41,757
Operating loss	(6,165)
Other income (expense)
Interest income	2
Interest expense (excludes contractual interest of $4.7 million on Prior Senior Notes subject to compromise for the period January 22, 2017 through March 31, 2017)	(2,367)
Loss on reorganization items, net	0
Pre-tax loss	(8,530)
Income tax expense	17
Net loss	(8,547)
Preferred stock dividends	0
Net loss attributable to common stockholders	$ (8,547)
Loss per share of common stock
Basic and diluted income (loss) per share (in usd per share)	$ (1.60)
Weighted average number of shares outstanding
Basic and diluted (in shares)	5,336
Predecessor
Revenues
Well servicing		17,105
Fluid logistics		9,942
Total revenues		27,047
Expenses
Well servicing		14,140
Fluid logistics		9,948
General and administrative		4,512
Depreciation and amortization		12,068
Total expenses		40,668
Operating loss		(13,621)
Other income (expense)
Interest income		13
Interest expense (excludes contractual interest of $4.7 million on Prior Senior Notes subject to compromise for the period January 22, 2017 through March 31, 2017)		(2,214)
Loss on reorganization items, net		(6,587)
Pre-tax loss		(22,409)
Income tax expense		31
Net loss		(22,440)
Preferred stock dividends		(46)
Net loss attributable to common stockholders		$ (22,486)
Loss per share of common stock
Basic and diluted income (loss) per share (in usd per share)		$ (1.01)
Weighted average number of shares outstanding
Basic and diluted (in shares)		22,215

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Operations (unaudited) (Parenthetical) - Predecessor $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Contractual interest subject to compromise	$ 2,214
Revolving Credit Facility | Prior Loan Agreement
Contractual interest subject to compromise	$ 4,700

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net loss	$ (8,547)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	7,163	$ 12,068
Cash, cash equivalents, and cash - restricted:
Beginning of period	35,480
End of period	33,173
Successor
Cash flows from operating activities:
Net loss	(8,547)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	7,163
Share-based compensation	250
Reorganization items (non-cash)	0
Deferred tax benefit	(21)
Gain on disposal of assets	(20)
Bad debt expense	100
Amortization of debt discount	196
Interest paid in kind	924
Changes in operating assets and liabilities:
Accounts receivable	(2,093)
Prepaid expenses and other assets	(135)
Accounts payable - trade	1,296
Accounts payable - related parties	(10)
Accrued expenses	1,171
Accrued interest payable	(7)
Net cash provided by (used in) operating activities	267
Cash flows from investing activities:
Proceeds from sale of property and equipment	300
Purchases of property and equipment	(2,363)
Net cash provided by (used in) investing activities	(2,063)
Cash flows from financing activities:
Payments for capital leases	(511)
Net cash used in financing activities	(511)
Net decrease in cash, cash equivalents, and cash - restricted	(2,307)
Cash, cash equivalents, and cash - restricted:
Beginning of period	35,480
End of period	$ 33,173
Predecessor
Cash flows from operating activities:
Net loss		(22,440)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		12,068
Share-based compensation		0
Reorganization items (non-cash)		2,104
Deferred tax benefit		(44)
Gain on disposal of assets		(700)
Bad debt expense		175
Amortization of debt discount		234
Interest paid in kind		0
Changes in operating assets and liabilities:
Accounts receivable		(477)
Prepaid expenses and other assets		(71)
Accounts payable - trade		3,519
Accounts payable - related parties		(18)
Accrued expenses		1,122
Accrued interest payable		1,546
Net cash provided by (used in) operating activities		(2,982)
Cash flows from investing activities:
Proceeds from sale of property and equipment		979
Purchases of property and equipment		(377)
Net cash provided by (used in) investing activities		602
Cash flows from financing activities:
Payments for capital leases		(394)
Net cash used in financing activities		(394)
Net decrease in cash, cash equivalents, and cash - restricted		(2,774)
Cash, cash equivalents, and cash - restricted:
Beginning of period		48,000
End of period		$ 45,226

Organization and Nature of Oper

Organization and Nature of Operations	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations Nature of Business Forbes Energy Services Ltd., or FES Ltd., is an independent oilfield services contractor that provides a wide range of well site services to oil and natural gas drilling and producing companies to help develop and enhance the production of oil and natural gas. These services include fluid hauling, fluid disposal, well maintenance, completion services, workovers and re-completions, plugging and abandonment, and tubing testing. The Company's operations are concentrated in the major onshore oil and natural gas producing regions of Texas, with an additional location in Pennsylvania. The Company believes that its broad range of services, which extends from initial drilling, through production, to eventual abandonment, is fundamental to establishing and maintaining the flow of oil and natural gas throughout the life cycle of its customers' wells. As used in these Consolidated Financial Statements, the “Company,” “we,” and “our” mean FES Ltd. and its direct and indirect subsidiaries, except as otherwise indicated.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Fresh Start Accounting On January 22, 2017, FES Ltd. and its domestic subsidiaries, or collectively, the Debtors, filed voluntary petitions for reorganization under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas-Corpus Christi Division, or the Bankruptcy Court, pursuant to the terms of a restructuring support agreement that contemplated the reorganization of the Debtors pursuant to a prepackaged plan of reorganization, as amended and supplemented, the Plan. On March 29, 2017, the Bankruptcy Court entered an order confirming the Plan. On April 13, 2017, or the Effective Date, the Plan became effective pursuant to its terms and the Debtors emerged from their chapter 11 cases. Upon emergence from bankruptcy on the Effective Date, the Company qualified for and adopted fresh start accounting in accordance with the provisions of ASC 852 as (i) the holders of FES Ltd.’s prior common stock, par value $0.04 per share, or the Old Common Stock, received none of the new class of common stock, par value $0.01 per share, or the New Common Stock, issued upon the Debtors' emergence from bankruptcy and (ii) the reorganization value of the Company's assets immediately prior to confirmation of the Plan was less than the post-petition liabilities and allowed claims. The effects of the Plan and the application of fresh start accounting are reflected in the Company's condensed consolidated financial statements from and after April 13, 2017. References to the "Successor" pertain to the Company from and after the Effective Date. References to "Predecessor" pertain to the Company prior to the Effective Date. The Company applied fresh start accounting from and after the Effective Date. Fresh start accounting required the Company to present its assets, liabilities and equity as if it were a new entity upon emergence from bankruptcy, with no beginning retained earnings or deficit as of the fresh start reporting date. As a result of the adoption of fresh start accounting, the Company’s unaudited condensed consolidated financial statements from and after the Effective Date will not be comparable to its financial statements prior to such date. Interim Financial Information The unaudited condensed consolidated financial statements of the Company are prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP, for interim financial reporting. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. Therefore, these condensed consolidated financial statements should be read along with the annual audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 . All significant intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, all adjustments which are of normal recurring natures considered necessary for a fair representation have been made in the accompanying unaudited financial statements. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. Cash - Restricted Restricted cash at March 31, 2018 (Successor) and December 31, 2017 (Successor) was $25.6 million and $30.0 million , respectively. The components of restricted cash at March 31, 2018 (Successor) included $16.9 million related to the loan and security agreement which provides for a term loan of $50.0 million , or the New Loan Agreement, which is subject to satisfaction of certain release restrictions and $8.7 million in a cash collateral account related to letters of credit and the Company's corporate credit card program under a new letter of credit facility entered into with Regions, or the New Regions Letter of Credit Facility. The release conditions set forth in the New Loan Agreement include, among other things, (i) no default or event of default under the New Loan Agreement having occurred or being continuing as of the date of the requested release of proceeds of the New Loan Agreement, or that would exist after giving effect to the release requested to be made on such date, and (ii) the Company’s unrestricted cash and cash equivalents being less than $7.0 million after giving pro forma effect to the requested release. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)," or ASU 2014-09, which provides guidance for revenue recognition and which supersedes nearly all existing revenue recognition guidance under ASU 2014-09 and created ASC 606. This ASU provides guidance that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. On January 1, 2018, the Company adopted ASC 606 on a modified retrospective basis for all contracts. As a result of the Company's adoption, there were no changes to the timing of the revenue recognition or measurement of revenue, and there was no cumulative effect of adoption as of January 1, 2018. Therefore, the only changes to the financial statements related to the adoption are in the footnote disclosures as included here-in. Revenue is measured as consideration specified in a contract with a customer and excludes any sales incentives and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by providing service to a customer. Amounts are billed upon completion of service and are generally due within 30 days. The Company has its principal revenue generating activities organized into two service lines, well servicing and fluid logistics. The Company's well servicing line consists primarily of maintenance, workover, completion, plugging and abandonment, and tubing testing services. The Company's fluid logistics line provides supporting services to the well servicing line as well as direct sales to customers for fluid management and movement. The Company generally establishes a master services agreement with each customer and provides associated services on a work order basis in increments of days, by the hour for services performed or on occasion, bid/turnkey pricing. Services provided under the well servicing and the fluid logistics segments are short in duration and generally completed within 30 days. The majority of the Company’s contracts with customers in both the well servicing and fluid logistics segments are short-term in nature and are recognized as “over-time” performance obligations as the services are performed. The Company applies the “as-invoiced” practical expedient as the amount of consideration the Company has a right to invoice corresponds directly with the value of the Company’s performance to date. Because of the short-term nature of the Company’s services, which generally last a few hours to multiple days, the Company does not have any contracts with a duration longer than one year that require disclosure. The Company has no material contract assets or liabilities. The Company does not have any revenue expected to be recognized in the future related to remaining performance obligations or contracts with a variable consideration related to undelivered performance obligations. There was no revenue recognized in the current period from performance obligations satisfied in previous periods. The Company's significant judgments made in connection with the adoption of ASC 606 included the determination of when the Company satisfies its performance obligation to customers and the applicability of the as invoiced practical expedient. The following tables show revenue disaggregated by primary geographical markets and major service lines for the three months ended March 31, 2018 (Successor) and March 31, 2017 (Predecessor). Successor Three months ended March 31, 2018 Well Servicing Fluid Logistics Total Primary Geographical Markets (in thousands) South Texas $ 19,553 $ 8,884 $ 28,437 East Texas (1) 370 348 718 Central Texas 2,922 1,636 4,558 West Texas 12 1,867 1,879 Total $ 22,857 $ 12,735 $ 35,592 Predecessor Three months ended March 31, 2017 Well Servicing Fluid Logistics Total Primary Geographical Markets (in thousands) South Texas $ 12,818 $ 5,219 $ 18,037 East Texas (1) 765 828 1,593 Central Texas — 1,421 1,421 West Texas 3,522 2,474 5,996 Total $ 17,105 $ 9,942 $ 27,047 (1) Includes revenues from the Company's operations in Pennsylvania.

Risk and Uncertainties

Risk and Uncertainties	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Risk and Uncertainties	Risk and Uncertainties As an independent oilfield services contractor that provides a broad range of drilling-related and production-related services to oil and natural gas companies, primarily onshore in Texas, the Company's revenue, profitability, cash flows and future rate of growth are substantially dependent on its ability to (1) maintain adequate equipment utilization, (2) maintain adequate pricing for the services it provides, and (3) maintain a trained workforce. Failure to do so could adversely affect the Company's financial position, results of operations, and cash flows. Because the Company's revenues are generated primarily from customers who are subject to the same factors as the Company that are generally impacting the oil and natural gas industry, the Company's operations are also susceptible to market volatility resulting from economic, cyclical, weather related, or other factors related to such industry. Changes experienced in the level of operating and capital spending in the industry, decreases in oil and natural gas prices, and/or industry perception about future oil and natural gas prices has materially decreased the demand for the Company's services, and has had an adverse effect on its financial position, results of operations and cash flows.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consisted of the following: Successor Estimated Life in Years March 31, 2018 December 31, 2017 (in thousands) Well servicing equipment 9-15 years $ 84,333 $ 80,899 Autos and trucks 5-10 years 44,248 42,831 Disposal wells 5-15 years 3,952 3,977 Building and improvements 5-30 years 5,519 5,474 Furniture and fixtures 3-15 years 2,054 1,950 Land 868 868 140,974 135,999 Accumulated depreciation (25,573 ) (18,808 ) $ 115,401 $ 117,191 Depreciation expense was $6.9 million and $12.0 million for the three months ended March 31, 2018 (Successor), and 2017 (Predecessor), respectively .

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The Company's major class of intangible assets subject to amortization consists of trade names. The Company expenses costs associated with extensions or renewals of intangible assets. There were no such extensions or renewals in each of the three months ended March 31, 2018 (Successor) and 2017 (Predecessor). Amortization expense is calculated using the straight-line method over the period indicated. Amortization expense for the three months ended March 31, 2018 (Successor) and March 31, 2017 (Predecessor) was $0.3 million and $0.1 million , respectively. The following sets forth the identified intangible assets by major asset class: Useful Life (years) Gross Carrying Value Accumulated Amortization Net Book Value (in thousands) As of March 31, 2018 (Successor) Customer relationships 15 $ 8,678 $ (560 ) $ 8,118 Trade names 15 2,472 (159 ) 2,313 Covenants not to compete 4 1,505 (364 ) 1,141 $ 12,655 $ (1,083 ) $ 11,572 Useful Life Gross Carrying Value Accumulated Amortization Net Book Value (in thousands) As of December 31, 2017 (Successor) Customer relationships 15 $ 8,678 $ (415 ) $ 8,263 Trade names 15 2,472 (118 ) 2,354 Covenants not to compete 4 1,505 (270 ) 1,235 $ 12,655 $ (803 ) $ 11,852

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt at March 31, 2018 and December 31, 2017 consisted of the following (in thousands): Successor March 31, 2018 December 31, 2017 (in thousands) Third party equipment notes and capital leases $ 5,898 $ 5,822 Insurance notes 3,380 5,882 New Loan Agreement, including $2.6 million and $1.7 million of accrued interest paid in kind and net of debt discount of $4.3 million and $4.5 million as of March 31, 2018 and December 31, 2017, respectively 48,266 47,150 Total debt 57,544 58,854 Less: Current portion (5,097 ) (7,566 ) Total long-term debt $ 52,447 $ 51,288 New Loan Agreement On the Effective Date, the Company entered into the New Loan Agreement. Forbes Energy Services LLC, or the Borrower, is the borrower under the New Loan Agreement. The Borrower’s obligations have been guaranteed by FES Ltd. and by Texas Energy Services, LLC, C.C. Forbes, LLC and Forbes Energy International, LLC, each direct subsidiaries of the Borrower and indirect subsidiaries of FES Ltd. The New Loan Agreement provides for a term loan of $50.0 million , which was fully funded on the Effective Date. Subject to certain exceptions and permitted encumbrances, the obligations under this loan are secured by a first priority security interest in substantially all the assets of the Company other than cash collateralizing the New Regions Letters of Credit Facility. Such term loan has a stated maturity date of April 13, 2021. The proceeds of such term loan are only permitted to be used for (i) the payment on account of the Prior Senior Notes in an amount equal to $20.0 million ; (ii) the payment of costs, expenses and fees incurred on or prior to the Effective Date in connection with the preparation, negotiation, execution and delivery of the New Loan Agreement and documents related thereto; and (iii) subject to satisfaction of certain release conditions set forth in the New Loan Agreement, for general operating, working capital and other general corporate purposes of the Borrower not otherwise prohibited by the terms of the New Loan Agreement. The release conditions set forth in the New Loan Agreement include, among other things, (i) no default or event of default under the New Loan Agreement having occurred or being continuing as of the date of the requested release of proceeds of the New Loan Agreement, or that would exist after giving effect to the release requested to be made on such date, and (ii) the Company’s unrestricted cash and cash equivalents being less than $7.0 million after giving pro forma effect to the requested release. At March 31, 2018, $16.9 million included in restricted cash was subject to these release restrictions. Borrowings under this term loan bear interest at a rate equal to five percent ( 5% ) per annum payable quarterly in cash, or the Cash Interest Rate, plus (ii) an initial rate for paid in kind interest of seven percent ( 7% ) commencing April 13, 2017 to be capitalized and added to the principal amount of the term loan on the first day of each quarter or, at the election of the Borrower, paid in cash. The paid in kind interest increases by two percent ( 2% ) twelve months after the Effective Date and every twelve months thereafter until maturity. Upon and after the occurrence of an event of default, the Cash Interest Rate will increase by two percentage points per annum. At March 31, 2018, the applicable interest rate was 12% per annum. The New Loan Agreement includes customary negative covenants for an asset-based term loan, including covenants limiting the ability of the Company to, among other things, (i) effect mergers and consolidations, (ii) sell assets, (iii) create or suffer to exist any lien, (iv) make certain investments, (v) incur debt and (vi) transact with affiliates. In addition, the New Loan Agreement includes customary affirmative covenants for an asset-based term loan, including covenants regarding the delivery of financial statements, reports and notices to the Agent. The New Loan Agreement also contains customary representations and warranties and event of default provisions for a secured term loan. New Regions Letters of Credit Facility On the Effective Date the Company entered into the New Regions Letters of Credit Facility pursuant to which Regions may issue, upon request by the Company, letters of credit and continue to provide charge cards for use by the Company. Amounts available under the New Regions Letters of Credit Facility are subject to customary fees and are secured by a first-priority lien on, and security interest in, a cash collateral account with Regions containing cash equal to at least (i) 105% of the sum of (a) all amounts owing for any drawings under letters of credit, including any reimbursement obligations, (b) the aggregate undrawn amount of all outstanding letters of credit, (c) all sums owing to Regions or any affiliate pursuant to any letter of credit document and (d) all obligations of the Company arising thereunder, including any indemnities and obligations for reimbursement of expenses and (ii) 120% of the aggregate line of credit for charge cards issued by Regions to the Company. The fees for each letter of credit for the period from and excluding the date of issuance of such letter of credit to and including the date of expiration or termination, are equal to (x) the average daily face amount of each outstanding letter of credit multiplied by (y) a per annum rate determined by Regions from time to time in its discretion based upon such factors as Regions shall determine, including, without limitation, the credit quality and financial performance of the Company. As of March 31, 2018, such rate was 3.00% . In the event the Company is unable to repay amounts due under the New Regions Letters of Credit Facility, Regions could proceed against such cash collateral account. Regions has no commitment under the New Regions Letters of Credit Facility to issue letters of credit. At March 31, 2018, the facility had $8.6 million in letters of credit outstanding. Capital Leases The Company financed the purchase of certain vehicles and equipment through commercial loans and capital leases with aggregate principal amounts outstanding as of March 31, 2018 (Successor) and December 31, 2017 (Successor) of approximately $5.9 million and $5.8 million , respectively. These loans are repayable in a range of 42 to 48 monthly installments with the maturity dates ranging from April 2018 to February 2022. Interest accrues at rates ranging from 3.4% to 4.9% and is payable monthly. The loans are collateralized by equipment purchased with the proceeds of such loans. The Company paid total principal payments of approximately $0.5 million during the three months ended March 31, 2018 (Successor), and $0.4 million during the three months ended March 31, 2017 (Predecessor). Following are required principal payments due on capital leases existing as of March 31, 2018 : April - December 2018 2019 2020 2021 2022 and thereafter (in thousands) Capital lease principal payments $ 1,313 $ 1,644 $ 1,713 $ 1,197 $ 31 Management has historically acquired all light duty trucks (pickup trucks) through capital leases and may use capital leases or cash to purchase equipment held under operating leases that have reached the end of the lease term. See Note 8 - Commitments and Contingencies. Insurance Notes During October of 2017, the Company entered into an insurance promissory note for the payment of insurance premiums at an interest rate of 2.9% with an aggregate principal amount outstanding as of March 31, 2018 (Successor) and December 31, 2017 (Successor), of approximately $3.4 million and $5.9 million , respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the amount that would be received for the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial Assets and Liabilities The carrying amounts of cash and cash equivalents, accounts receivable-trade, accounts receivable-other, accounts payable-trade, and insurance notes, approximate fair value because of the short maturity of these instruments. The fair values of third party notes and equipment notes approximate their carrying values, based on current market rates at which the Company could borrow funds with similar maturities (Level 2 in the fair value hierarchy). The fair values of the New Loan Agreement as of the respective dates are set forth below: March 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Successor (in thousands) New Loan Agreement $ 48,266 $ 50,719 $ 47,150 $ 55,550

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Concentrations of Credit Risk FDIC insurance coverage is currently $250,000 per depositor at each financial institution, and the Company's non-interest bearing cash balances typically exceed federally insured limits. The Company restricts investment of temporary cash investments to financial institutions with high credit standings. The Company's customer base consists primarily of multi-national and independent oil and natural gas producers. The Company does not require collateral on its trade receivables. For the three months ended March 31, 2018 (Successor), the Company's largest customer, five largest customers, and ten largest customers constituted 15.2% , 48.6% and 60.9% of consolidated revenues, respectively. For the three months ended March 31, 2018 (Successor), two customers constituted 15.2% and 14.8% of consolidated revenues, respectively. The loss of any one of the Company's top five customers would have a materially adverse effect on the revenues and profits of the Company. Further, the Company's trade accounts receivable are from companies within the oil and natural gas industry and as such the Company is exposed to normal industry credit risks. As of March 31, 2018 , the Company's largest customer, five largest customers, and ten largest customers constituted 24.7% , 48.5% and 62.9% of accounts receivable, respectively. Litigation From time to time, the Company is subject to various claims and legal actions that arise in the ordinary course of business. There are no pending material legal proceedings, and the Company is not aware of any material threatened legal proceedings, to which the Company is a party or to which its property is subject that would have a material adverse effect on the Company's financial statements as of March 31, 2018. It is reasonably possible that cases could be resolved and result in liabilities that exceed the amounts currently reserved. Self-Insurance The Company is self-insured under its Employee Group Medical Plan for the first $150,000 per individual. The Company is self-insured with a retention for the first $250,000 in general liability. The Company has an additional premium payable clause under its lead $10 million limit excess policy that states in the event losses exceed $1 million , a loss additional premium of up to 15% of paid losses in excess of $1 million will be due. The loss additional premium is payable at the time when the loss is paid and will be payable over a period agreed by insurers. The Company has accrued liabilities totaling $6.3 million and $7.2 million as of March 31, 2018 (Successor) and December 31, 2017 (Successor), respectively, for the projected additional premium and self-insured portion of these insurance claims as of the financial statement dates. This accrual includes claims made as well as an estimate for claims incurred but not reported as of the financial statement dates. Other The Company is currently undergoing sales and use tax audits for multi-year periods. The Company believes the outcome of these audits will not have a material adverse effect on its results of operations or financial position. Because certain of these audits are in a preliminary stage, an estimate of the possible loss or range of loss cannot reasonably be made. Off-Balance Sheet Arrangements The Company is often party to certain transactions that constitute off-balance sheet arrangements such as performance bonds, guarantees, operating leases for equipment, and bank guarantees that are not reflected in the Company's condensed consolidated balance sheets. These arrangements are made in the Company's normal course of business and they are not reasonably likely to have a current or future material adverse effect on its financial condition, results of operations, liquidity, or cash flows. The Company's off-balance sheet arrangements include $8.6 million in letters of credit and operating leases for equipment.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation On the Effective Date, all prior equity interests (which included the Old Common Stock, FES Ltd.’s prior preferred stock, awards under the prior compensation plans and the preferred stock purchase rights under the Rights Agreement) in FES Ltd. were extinguished without recovery. Management Incentive Plan On the Effective Date, pursuant to the operation of the Plan, the Management Incentive Plan became effective. A summary of the Company's share-based compensation expense during the periods presented are as follows (dollar amounts in thousands): Successor Predecessor Three months ended March 31, 2018 Three months ended March 31, 2017 Share based compensation expense recognized $ 250 $ — Unrecognized compensation cost $ 3,414 $ — Remaining weighted-average service period (years) 3.41 — During the year ended December 31, 2017, the Company granted 450,000 restricted stock units to officers and employees subject to the Management Incentive Plan. Below is a summary of the unvested restricted stock units awarded. Number of Shares Weighted Average Fair Value Unvested as of December 31, 2017 (Successor) 363,300 $ 11.00 Granted — $ — Vested — $ — Forfeited — $ — Unvested as of March 31, 2018 (Successor) 363,300 $ 11.00

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions During the three months ended March 31, 2018 (Successor) and 2017 (Predecessor), the Company incurred $266,000 and $330,000 , respectively, in related party expenses, primarily related to leases and rents. There was no related party revenue for the three months ended March 31, 2018 (Successor). Related party revenue for the three months ended March 31, 2017 (Predecessor) was $1,000 . From time to time, vendors of the Company factor their receivables from the Company with a related party. For the three months ended March 31, 2017 (Predecessor), the Company made payments of $73,000 for receivables factored to a related party. The nature of these transactions do not result in recording in the Company’s financial records any revenue, any expense or any receivable and does not result in any payable distinct in amount from the amount payable to such vendors as originally incurred. There were no such payments made during the three months ended March 31, 2018 (Successor). As of March 31, 2018 (Successor), related party payables amounted to $1,000 and there were no related party accounts receivable. As of December 31, 2017 (Successor), related party accounts payable were $11,000 and there were no related party or accounts receivable. In addition to such related party transactions above, Lawrence “Larry” First, a director of FES Ltd., serves as the Chief Investment Officer and Managing Director of Ascribe Capital LLC, or Ascribe, and Brett G. Wyard, also a director of FES Ltd., serves as a Managing Partner of Solace Capital Partners, or Solace. Ascribe and/or one or more of its affiliates own approximately 24.1% of the outstanding New Common Stock as of May 10, 2018, and is owed approximately $13.2 million of the aggregate principal amount of the New Loan Agreement. Solace and/or one of its affiliates own approximately 17.8% of the outstanding New Common Stock as of May 10, 2018, and is owed approximately $11.9 million of the aggregate principal amount of the term loan covered by the New Loan Agreement. Moreover, an affiliate of Solace and affiliates of Ascribe are parties to certain registration rights agreement dated as of the Effective Date by and among the Company and certain stockholders of the Company.

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share On the Effective Date, the Old Common Stock, the prior Series B Senior Convertible Preferred Stock, or the Prior Preferred Stock, and awards then outstanding under the Prior Compensation Plans were extinguished without recovery. Basic earnings (loss) per share, or EPS, is computed by dividing net income (loss) available to common stockholders by the weighted average common stock outstanding during the period. Diluted earnings (loss) per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock, such as options and convertible preferred stock, were exercised and converted into common stock. Potential common stock equivalents relate to outstanding stock options and unvested restricted stock units, which are determined using the treasury stock method, and the Prior Preferred Stock, which were determined using the "if-converted" method. In applying the if-converted method, conversion is not assumed for purposes of computing diluted EPS if the effect would be antidilutive. The following table sets forth the computation of basic and diluted loss per share: Successor Predecessor Three months ended March 31, 2018 Three months ended March 31, 2017 (in thousands, except per share amounts) (in thousands, except per share amounts) Basic and diluted: Net loss $ (8,547 ) $ (22,440 ) Preferred stock dividends and accretion — (46 ) Net loss attributable to common stockholders $ (8,547 ) $ (22,486 ) Weighted-average common shares 5,336 22,215 Basic and diluted net loss per share $ (1.60 ) $ (1.01 ) There were 363,300 unvested restricted stock units that were not included in the calculation of diluted EPS for the three months ended March 31, 2018 (Successor) because their effect would have been antidilutive. There were 602,625 stock options and 5,292,531 shares of Old Common Stock equivalents underlying the Prior Preferred Stock that were not included in the calculation of diluted EPS for the three months ended March 31, 2017 (Predecessor) because their effect would have been antidilutive.

Business Segment Information

Business Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company has determined that it has two reportable segments organized based on its products and services—well servicing and fluid logistics. Well Servicing At March 31, 2018 , the Company's well servicing segment utilized its fleet of 168 well servicing rigs, which was comprised of 154 workover rigs and 14 swabbing rigs, in addition to six coiled tubing spreads and other related assets and equipment. These assets are used to provide (i) well maintenance, including remedial repairs and removal and replacement of downhole production equipment, (ii) well workovers, including significant downhole repairs, re-completions and re-perforations, (iii) completion and swabbing activities, (iv) plugging and abandonment services, and (v) pressure testing of oil and natural gas production tubing and scanning tubing for pitting and wall thickness using tubing testing units. Fluid Logistics The fluid logistics segment utilizes the Company's fleet of 258 owned or leased fluid transport trucks and related assets, 109 other heavy trucks including specialized vacuum, high pressure pump and tank trucks, 2,868 frac tanks, 15 salt water disposal wells and facilities, and related equipment. These assets are used to transport, store and dispose of a variety of drilling and produced fluids used in and generated by oil and natural gas production activities. These services are required in most workover and completion projects and are routinely used in the daily operation of producing wells. The following tables set forth certain financial information with respect to the Company’s reportable segments for the three months ended March 31, 2018 (Successor), and the three months ended March 31, 2017 (Predecessor): Successor Predecessor Three months ended March 31, 2018 Three months ended March 31, 2017 (in thousands) (in thousands) Well Servicing Fluid Logistics Total Well Servicing Fluid Logistics Total Operating revenues $ 22,857 $ 12,735 $ 35,592 $ 17,105 $ 9,942 $ 27,047 Direct operating costs 19,017 10,689 29,706 14,140 9,948 24,088 Segment operating profit (loss) $ 3,840 $ 2,046 $ 5,886 $ 2,965 $ (6 ) $ 2,959 Depreciation and amortization $ 3,732 $ 3,431 $ 7,163 $ 6,169 $ 5,899 $ 12,068 Capital expenditures (1) $ 955 4,377 $ 5,332 $ 274 $ 103 $ 377 Total assets $ 146,825 $ 80,456 $ 227,281 $ 615,696 $ 434,304 $ 1,050,000 Long-lived assets $ 83,615 $ 43,358 $ 126,973 $ 136,435 $ 85,103 $ 221,538 (1) Capital expenditures listed above include all cash and non-cash additions to property and equipment, including capital leases and fixed assets recorded in accounts payable at period end. Successor Predecessor Three months ended March 31, 2018 Three months ended in March 31, 2017 Reconciliation of the Company's Operating Loss As Reported: (in thousands) (in thousands) Segment operating profits $ 5,886 $ 2,959 General and administrative expense 4,888 4,512 Depreciation and amortization 7,163 12,068 Operating loss (6,165 ) (13,621 ) Other expense, net (2,365 ) (8,788 ) Pre-tax loss $ (8,530 ) $ (22,409 ) Successor March 31, 2018 December 31, 2017 Reconciliation of the Company's Assets As Reported: (in thousands) Total reportable segments $ 227,281 $ 215,134 Elimination of internal transactions (348,903 ) (311,147 ) Parent 318,628 297,770 Total assets $ 197,006 $ 201,757

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Successor Predecessor Three months ended March 31, 2018 Three months ended March 31, 2017 Cash paid for (in thousands) (in thousands) Interest $ 921 $ 461 Supplemental schedule of non-cash investing and financing activities Changes in accounts payable related to capital expenditures $ 2,414 $ — Capital leases on equipment $ 583 $ — Preferred stock dividends and accretion costs $ — $ 46

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2016, the FASB issued ASU No. 2016-18, "Statement of Cash Flows (Topic 230), Restricted Cash," or ASU 2016-18. ASU 2016-18 provides guidance on the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. Restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statement of cash flows. On January 1, 2018 the Company adopted the provisions of ASU 2016-18 on a retrospective basis. The 2017 statement of cash flows has been restated to conform to the requirements of ASU 2016-18 and the 2018 presentation. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets to the same such amounts shown in the consolidated statements of cash flows. Successor Successor Predecessor Predecessor March 31, 2018 December 31, 2017 March 31, 2017 December 31, 2016 (in thousands) (in thousands) Cash and cash equivalents $ 7,572 $ 5,465 $ 17,647 $ 20,437 Restricted cash 25,601 30,015 27,579 27,563 Cash and cash equivalents and restricted cash as shown in the consolidated statement of cash flows $ 33,173 $ 35,480 $ 45,226 $ 48,000 In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments", or ASU 2016-13, which introduces a new impairment model for financial instruments that is based on expected credit losses rather than incurred credit losses. The new impairment model applies to most financial assets, including trade accounts receivable. The amendments in ASU 2016-13 are effective for interim and annual reporting periods beginning after December 15, 2019 with early adoption permitted for annual periods beginning after December 15, 2018. The Company is currently in the process of evaluating the impact of adoption on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)," or ASU 2016-02, which increases the transparency and comparability about leases among entities. The new guidance requires lessees to recognize a lease liability and a corresponding lease asset for operating leases with lease terms greater than 12 months. It also requires additional disclosures about leasing arrangements to help users of financial statements better understand the amount, timing, and uncertainty of cash flows arising from leases. ASU 2016-02 becomes effective for interim and annual periods beginning after December 15, 2018 and requires a modified retrospective approach to adoption. The Company has engaged a third party to assist in evaluating the impact of this new standard on its consolidated financial statements and related disclosures. The Company expects to recognize additional lease assets and liabilities related to operating leases with terms longer than one year.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fresh Start Accounting	Fresh Start Accounting On January 22, 2017, FES Ltd. and its domestic subsidiaries, or collectively, the Debtors, filed voluntary petitions for reorganization under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas-Corpus Christi Division, or the Bankruptcy Court, pursuant to the terms of a restructuring support agreement that contemplated the reorganization of the Debtors pursuant to a prepackaged plan of reorganization, as amended and supplemented, the Plan. On March 29, 2017, the Bankruptcy Court entered an order confirming the Plan. On April 13, 2017, or the Effective Date, the Plan became effective pursuant to its terms and the Debtors emerged from their chapter 11 cases. Upon emergence from bankruptcy on the Effective Date, the Company qualified for and adopted fresh start accounting in accordance with the provisions of ASC 852 as (i) the holders of FES Ltd.’s prior common stock, par value $0.04 per share, or the Old Common Stock, received none of the new class of common stock, par value $0.01 per share, or the New Common Stock, issued upon the Debtors' emergence from bankruptcy and (ii) the reorganization value of the Company's assets immediately prior to confirmation of the Plan was less than the post-petition liabilities and allowed claims. The effects of the Plan and the application of fresh start accounting are reflected in the Company's condensed consolidated financial statements from and after April 13, 2017. References to the "Successor" pertain to the Company from and after the Effective Date. References to "Predecessor" pertain to the Company prior to the Effective Date. The Company applied fresh start accounting from and after the Effective Date. Fresh start accounting required the Company to present its assets, liabilities and equity as if it were a new entity upon emergence from bankruptcy, with no beginning retained earnings or deficit as of the fresh start reporting date. As a result of the adoption of fresh start accounting, the Company’s unaudited condensed consolidated financial statements from and after the Effective Date will not be comparable to its financial statements prior to such date.
Interim Financial Information	Interim Financial Information The unaudited condensed consolidated financial statements of the Company are prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP, for interim financial reporting. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. Therefore, these condensed consolidated financial statements should be read along with the annual audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 . All significant intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, all adjustments which are of normal recurring natures considered necessary for a fair representation have been made in the accompanying unaudited financial statements.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated balance sheets and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates.
Cash - Restricted	Cash - Restricted Restricted cash at March 31, 2018 (Successor) and December 31, 2017 (Successor) was $25.6 million and $30.0 million , respectively. The components of restricted cash at March 31, 2018 (Successor) included $16.9 million related to the loan and security agreement which provides for a term loan of $50.0 million , or the New Loan Agreement, which is subject to satisfaction of certain release restrictions and $8.7 million in a cash collateral account related to letters of credit and the Company's corporate credit card program under a new letter of credit facility entered into with Regions, or the New Regions Letter of Credit Facility. The release conditions set forth in the New Loan Agreement include, among other things, (i) no default or event of default under the New Loan Agreement having occurred or being continuing as of the date of the requested release of proceeds of the New Loan Agreement, or that would exist after giving effect to the release requested to be made on such date, and (ii) the Company’s unrestricted cash and cash equivalents being less than $7.0 million after giving pro forma effect to the requested release.
Revenue Recognition	Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)," or ASU 2014-09, which provides guidance for revenue recognition and which supersedes nearly all existing revenue recognition guidance under ASU 2014-09 and created ASC 606. This ASU provides guidance that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. On January 1, 2018, the Company adopted ASC 606 on a modified retrospective basis for all contracts. As a result of the Company's adoption, there were no changes to the timing of the revenue recognition or measurement of revenue, and there was no cumulative effect of adoption as of January 1, 2018. Therefore, the only changes to the financial statements related to the adoption are in the footnote disclosures as included here-in. Revenue is measured as consideration specified in a contract with a customer and excludes any sales incentives and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by providing service to a customer. Amounts are billed upon completion of service and are generally due within 30 days. The Company has its principal revenue generating activities organized into two service lines, well servicing and fluid logistics. The Company's well servicing line consists primarily of maintenance, workover, completion, plugging and abandonment, and tubing testing services. The Company's fluid logistics line provides supporting services to the well servicing line as well as direct sales to customers for fluid management and movement. The Company generally establishes a master services agreement with each customer and provides associated services on a work order basis in increments of days, by the hour for services performed or on occasion, bid/turnkey pricing. Services provided under the well servicing and the fluid logistics segments are short in duration and generally completed within 30 days. The majority of the Company’s contracts with customers in both the well servicing and fluid logistics segments are short-term in nature and are recognized as “over-time” performance obligations as the services are performed. The Company applies the “as-invoiced” practical expedient as the amount of consideration the Company has a right to invoice corresponds directly with the value of the Company’s performance to date. Because of the short-term nature of the Company’s services, which generally last a few hours to multiple days, the Company does not have any contracts with a duration longer than one year that require disclosure. The Company has no material contract assets or liabilities. The Company does not have any revenue expected to be recognized in the future related to remaining performance obligations or contracts with a variable consideration related to undelivered performance obligations. There was no revenue recognized in the current period from performance obligations satisfied in previous periods. The Company's significant judgments made in connection with the adoption of ASC 606 included the determination of when the Company satisfies its performance obligation to customers and the applicability of the as invoiced practical expedient.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2016, the FASB issued ASU No. 2016-18, "Statement of Cash Flows (Topic 230), Restricted Cash," or ASU 2016-18. ASU 2016-18 provides guidance on the presentation of restricted cash and restricted cash equivalents in the statement of cash flows. Restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statement of cash flows. On January 1, 2018 the Company adopted the provisions of ASU 2016-18 on a retrospective basis. The 2017 statement of cash flows has been restated to conform to the requirements of ASU 2016-18 and the 2018 presentation. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets to the same such amounts shown in the consolidated statements of cash flows. Successor Successor Predecessor Predecessor March 31, 2018 December 31, 2017 March 31, 2017 December 31, 2016 (in thousands) (in thousands) Cash and cash equivalents $ 7,572 $ 5,465 $ 17,647 $ 20,437 Restricted cash 25,601 30,015 27,579 27,563 Cash and cash equivalents and restricted cash as shown in the consolidated statement of cash flows $ 33,173 $ 35,480 $ 45,226 $ 48,000 In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments", or ASU 2016-13, which introduces a new impairment model for financial instruments that is based on expected credit losses rather than incurred credit losses. The new impairment model applies to most financial assets, including trade accounts receivable. The amendments in ASU 2016-13 are effective for interim and annual reporting periods beginning after December 15, 2019 with early adoption permitted for annual periods beginning after December 15, 2018. The Company is currently in the process of evaluating the impact of adoption on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)," or ASU 2016-02, which increases the transparency and comparability about leases among entities. The new guidance requires lessees to recognize a lease liability and a corresponding lease asset for operating leases with lease terms greater than 12 months. It also requires additional disclosures about leasing arrangements to help users of financial statements better understand the amount, timing, and uncertainty of cash flows arising from leases. ASU 2016-02 becomes effective for interim and annual periods beginning after December 15, 2018 and requires a modified retrospective approach to adoption. The Company has engaged a third party to assist in evaluating the impact of this new standard on its consolidated financial statements and related disclosures. The Company expects to recognize additional lease assets and liabilities related to operating leases with terms longer than one year.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Disaggregation of Revenue	The following tables show revenue disaggregated by primary geographical markets and major service lines for the three months ended March 31, 2018 (Successor) and March 31, 2017 (Predecessor). Successor Three months ended March 31, 2018 Well Servicing Fluid Logistics Total Primary Geographical Markets (in thousands) South Texas $ 19,553 $ 8,884 $ 28,437 East Texas (1) 370 348 718 Central Texas 2,922 1,636 4,558 West Texas 12 1,867 1,879 Total $ 22,857 $ 12,735 $ 35,592 Predecessor Three months ended March 31, 2017 Well Servicing Fluid Logistics Total Primary Geographical Markets (in thousands) South Texas $ 12,818 $ 5,219 $ 18,037 East Texas (1) 765 828 1,593 Central Texas — 1,421 1,421 West Texas 3,522 2,474 5,996 Total $ 17,105 $ 9,942 $ 27,047 (1) Includes revenues from the Company's operations in Pennsylvania.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consisted of the following: Successor Estimated Life in Years March 31, 2018 December 31, 2017 (in thousands) Well servicing equipment 9-15 years $ 84,333 $ 80,899 Autos and trucks 5-10 years 44,248 42,831 Disposal wells 5-15 years 3,952 3,977 Building and improvements 5-30 years 5,519 5,474 Furniture and fixtures 3-15 years 2,054 1,950 Land 868 868 140,974 135,999 Accumulated depreciation (25,573 ) (18,808 ) $ 115,401 $ 117,191

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	The following sets forth the identified intangible assets by major asset class: Useful Life (years) Gross Carrying Value Accumulated Amortization Net Book Value (in thousands) As of March 31, 2018 (Successor) Customer relationships 15 $ 8,678 $ (560 ) $ 8,118 Trade names 15 2,472 (159 ) 2,313 Covenants not to compete 4 1,505 (364 ) 1,141 $ 12,655 $ (1,083 ) $ 11,572 Useful Life Gross Carrying Value Accumulated Amortization Net Book Value (in thousands) As of December 31, 2017 (Successor) Customer relationships 15 $ 8,678 $ (415 ) $ 8,263 Trade names 15 2,472 (118 ) 2,354 Covenants not to compete 4 1,505 (270 ) 1,235 $ 12,655 $ (803 ) $ 11,852

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Long Term Debt	Long-term debt at March 31, 2018 and December 31, 2017 consisted of the following (in thousands): Successor March 31, 2018 December 31, 2017 (in thousands) Third party equipment notes and capital leases $ 5,898 $ 5,822 Insurance notes 3,380 5,882 New Loan Agreement, including $2.6 million and $1.7 million of accrued interest paid in kind and net of debt discount of $4.3 million and $4.5 million as of March 31, 2018 and December 31, 2017, respectively 48,266 47,150 Total debt 57,544 58,854 Less: Current portion (5,097 ) (7,566 ) Total long-term debt $ 52,447 $ 51,288
Contractual Obligation, Fiscal Year Maturity Schedule	Following are required principal payments due on capital leases existing as of March 31, 2018 : April - December 2018 2019 2020 2021 2022 and thereafter (in thousands) Capital lease principal payments $ 1,313 $ 1,644 $ 1,713 $ 1,197 $ 31

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Summary of the Carrying Amounts and Estimated Fair Values of Financial Instruments	The fair values of the New Loan Agreement as of the respective dates are set forth below: March 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Successor (in thousands) New Loan Agreement $ 48,266 $ 50,719 $ 47,150 $ 55,550

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements	A summary of the Company's share-based compensation expense during the periods presented are as follows (dollar amounts in thousands): Successor Predecessor Three months ended March 31, 2018 Three months ended March 31, 2017 Share based compensation expense recognized $ 250 $ — Unrecognized compensation cost $ 3,414 $ — Remaining weighted-average service period (years) 3.41 —
Schedule of Nonvested Restricted Stock Units Activity	During the year ended December 31, 2017, the Company granted 450,000 restricted stock units to officers and employees subject to the Management Incentive Plan. Below is a summary of the unvested restricted stock units awarded. Number of Shares Weighted Average Fair Value Unvested as of December 31, 2017 (Successor) 363,300 $ 11.00 Granted — $ — Vested — $ — Forfeited — $ — Unvested as of March 31, 2018 (Successor) 363,300 $ 11.00

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings (Loss) Per Share	The following table sets forth the computation of basic and diluted loss per share: Successor Predecessor Three months ended March 31, 2018 Three months ended March 31, 2017 (in thousands, except per share amounts) (in thousands, except per share amounts) Basic and diluted: Net loss $ (8,547 ) $ (22,440 ) Preferred stock dividends and accretion — (46 ) Net loss attributable to common stockholders $ (8,547 ) $ (22,486 ) Weighted-average common shares 5,336 22,215 Basic and diluted net loss per share $ (1.60 ) $ (1.01 )

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Financial Information with Respect to Reportable Segments	The following tables set forth certain financial information with respect to the Company’s reportable segments for the three months ended March 31, 2018 (Successor), and the three months ended March 31, 2017 (Predecessor): Successor Predecessor Three months ended March 31, 2018 Three months ended March 31, 2017 (in thousands) (in thousands) Well Servicing Fluid Logistics Total Well Servicing Fluid Logistics Total Operating revenues $ 22,857 $ 12,735 $ 35,592 $ 17,105 $ 9,942 $ 27,047 Direct operating costs 19,017 10,689 29,706 14,140 9,948 24,088 Segment operating profit (loss) $ 3,840 $ 2,046 $ 5,886 $ 2,965 $ (6 ) $ 2,959 Depreciation and amortization $ 3,732 $ 3,431 $ 7,163 $ 6,169 $ 5,899 $ 12,068 Capital expenditures (1) $ 955 4,377 $ 5,332 $ 274 $ 103 $ 377 Total assets $ 146,825 $ 80,456 $ 227,281 $ 615,696 $ 434,304 $ 1,050,000 Long-lived assets $ 83,615 $ 43,358 $ 126,973 $ 136,435 $ 85,103 $ 221,538 (1) Capital expenditures listed above include all cash and non-cash additions to property and equipment, including capital leases and fixed assets recorded in accounts payable at period end. Successor Predecessor Three months ended March 31, 2018 Three months ended in March 31, 2017 Reconciliation of the Company's Operating Loss As Reported: (in thousands) (in thousands) Segment operating profits $ 5,886 $ 2,959 General and administrative expense 4,888 4,512 Depreciation and amortization 7,163 12,068 Operating loss (6,165 ) (13,621 ) Other expense, net (2,365 ) (8,788 ) Pre-tax loss $ (8,530 ) $ (22,409 ) Successor March 31, 2018 December 31, 2017 Reconciliation of the Company's Assets As Reported: (in thousands) Total reportable segments $ 227,281 $ 215,134 Elimination of internal transactions (348,903 ) (311,147 ) Parent 318,628 297,770 Total assets $ 197,006 $ 201,757

Supplemental Cash Flow Inform30

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Successor Predecessor Three months ended March 31, 2018 Three months ended March 31, 2017 Cash paid for (in thousands) (in thousands) Interest $ 921 $ 461 Supplemental schedule of non-cash investing and financing activities Changes in accounts payable related to capital expenditures $ 2,414 $ — Capital leases on equipment $ 583 $ — Preferred stock dividends and accretion costs $ — $ 46

Recent Accounting Pronounceme31

Recent Accounting Pronouncements (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets to the same such amounts shown in the consolidated statements of cash flows. Successor Successor Predecessor Predecessor March 31, 2018 December 31, 2017 March 31, 2017 December 31, 2016 (in thousands) (in thousands) Cash and cash equivalents $ 7,572 $ 5,465 $ 17,647 $ 20,437 Restricted cash 25,601 30,015 27,579 27,563 Cash and cash equivalents and restricted cash as shown in the consolidated statement of cash flows $ 33,173 $ 35,480 $ 45,226 $ 48,000

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Apr. 13, 2017
Fresh-Start Adjustment [Line Items]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Restricted cash	$ 25,600,000	$ 30,000,000
New First Lien Term Loan Facility (Exit Facility) | Line of Credit
Fresh-Start Adjustment [Line Items]
Restricted cash	16,900,000
Unrestricted cash and cash equivalents after giving pro forma effect to requested release (less than)	7,000,000
New First Lien Term Loan Facility (Exit Facility) | Term Loan
Fresh-Start Adjustment [Line Items]
Debt instrument, face amount	50,000,000
New Regions Letter of Credit Facility | Letter of Credit
Fresh-Start Adjustment [Line Items]
Restricted cash	$ 8,700,000
Predecessor
Fresh-Start Adjustment [Line Items]
Common stock, par value (in usd per share)			$ 0.04
Successor
Fresh-Start Adjustment [Line Items]
Common stock, par value (in usd per share)			$ 0.01

Basis of Presentation - Disaggr

Basis of Presentation - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Successor
Disaggregation of Revenue [Line Items]
Revenue	$ 35,592
Predecessor
Disaggregation of Revenue [Line Items]
Revenue		$ 27,047
South Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	28,437
South Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		18,037
East Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	718
East Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		1,593
Central Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	4,558
Central Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		1,421
West Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	1,879
West Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		5,996
Well Servicing | Successor
Disaggregation of Revenue [Line Items]
Revenue	22,857
Well Servicing | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		17,105
Well Servicing | South Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	19,553
Well Servicing | South Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		12,818
Well Servicing | East Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	370
Well Servicing | East Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		765
Well Servicing | Central Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	2,922
Well Servicing | Central Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		0
Well Servicing | West Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	12
Well Servicing | West Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		3,522
Fluid Logistics | Successor
Disaggregation of Revenue [Line Items]
Revenue	12,735
Fluid Logistics | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		9,942
Fluid Logistics | South Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	8,884
Fluid Logistics | South Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		5,219
Fluid Logistics | East Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	348
Fluid Logistics | East Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		828
Fluid Logistics | Central Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	1,636
Fluid Logistics | Central Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		1,421
Fluid Logistics | West Texas | Successor
Disaggregation of Revenue [Line Items]
Revenue	$ 1,867
Fluid Logistics | West Texas | Predecessor
Disaggregation of Revenue [Line Items]
Revenue		$ 2,474

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Summary of Property and equipment
Property and equipment, gross	$ 140,974		$ 135,999
Accumulated depreciation	(25,573)		(18,808)
Property and equipment, net	115,401		117,191
Depreciation expense	6,900	$ 12,000
Well servicing equipment
Summary of Property and equipment
Property and equipment, gross	$ 84,333		80,899
Well servicing equipment | Maximum
Summary of Property and equipment
Property and equipment, estimated life	15 years
Well servicing equipment | Minimum
Summary of Property and equipment
Property and equipment, estimated life	9 years
Autos and trucks
Summary of Property and equipment
Property and equipment, gross	$ 44,248		42,831
Autos and trucks | Maximum
Summary of Property and equipment
Property and equipment, estimated life	10 years
Autos and trucks | Minimum
Summary of Property and equipment
Property and equipment, estimated life	5 years
Disposal wells
Summary of Property and equipment
Property and equipment, gross	$ 3,952		3,977
Disposal wells | Maximum
Summary of Property and equipment
Property and equipment, estimated life	15 years
Disposal wells | Minimum
Summary of Property and equipment
Property and equipment, estimated life	5 years
Building and improvements
Summary of Property and equipment
Property and equipment, gross	$ 5,519		5,474
Building and improvements | Maximum
Summary of Property and equipment
Property and equipment, estimated life	30 years
Building and improvements | Minimum
Summary of Property and equipment
Property and equipment, estimated life	5 years
Furniture and fixtures
Summary of Property and equipment
Property and equipment, gross	$ 2,054		1,950
Furniture and fixtures | Maximum
Summary of Property and equipment
Property and equipment, estimated life	15 years
Furniture and fixtures | Minimum
Summary of Property and equipment
Property and equipment, estimated life	3 years
Land
Summary of Property and equipment
Property and equipment, gross	$ 868		$ 868

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expenses	$ 0.3	$ 0.1

Intangible Assets - Major Asset

Intangible Assets - Major Asset Class (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Intangible Assets
Gross Carrying Value	$ 12,655	$ 12,655
Accumulated Amortization	(1,083)	(803)
Net Book Value	$ 11,572	$ 11,852
Customer relationships
Intangible Assets
Useful Life (years)	15 years	15 years
Gross Carrying Value	$ 8,678	$ 8,678
Accumulated Amortization	(560)	(415)
Net Book Value	$ 8,118	$ 8,263
Trade names
Intangible Assets
Useful Life (years)	15 years	15 years
Gross Carrying Value	$ 2,472	$ 2,472
Accumulated Amortization	(159)	(118)
Net Book Value	$ 2,313	$ 2,354
Covenants not to compete
Intangible Assets
Useful Life (years)	4 years	4 years
Gross Carrying Value	$ 1,505	$ 1,505
Accumulated Amortization	(364)	(270)
Net Book Value	$ 1,141	$ 1,235

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 57,544	$ 58,854
Less: Current portion	(5,097)	(7,566)
Total long-term debt	52,447	51,288
New Loan Agreement, including $2.6 million and $1.7 million of accrued interest paid in kind and net of debt discount of $4.3 million and $4.5 million as of March 31, 2018 and December 31, 2017, respectively | Line of Credit
Debt Instrument [Line Items]
Deferred financing costs	4,300	4,500
Accrued interest paid in kind	2,600	1,700
Total debt	48,266	47,150
Third party equipment notes and capital leases
Debt Instrument [Line Items]
Total debt	5,898	5,822
Insurance notes
Debt Instrument [Line Items]
Total debt	$ 3,380	$ 5,882

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	Apr. 13, 2017USD ($)	Mar. 31, 2018USD ($)installment	Mar. 31, 2017USD ($)	Apr. 13, 2018	Dec. 31, 2017USD ($)	Oct. 31, 2016
Debt Instrument [Line Items]
Restricted cash		$ 25,600,000			$ 30,000,000
Debt and capital lease obligations		57,544,000			58,854,000
Third party equipment notes and capital leases
Debt Instrument [Line Items]
Debt and capital lease obligations		5,898,000			5,822,000
Insurance notes
Debt Instrument [Line Items]
Debt and capital lease obligations		$ 3,380,000			5,882,000
Insurance notes | Insurance Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate						2.87%
Minimum | Third party equipment notes and capital leases
Debt Instrument [Line Items]
Debt instrument, number of installments | installment		42
Debt instrument, effective interest rate		3.40%
Maximum | Third party equipment notes and capital leases
Debt Instrument [Line Items]
Debt instrument, number of installments | installment		48
Debt instrument, effective interest rate		4.90%
Line of Credit | New First Lien Term Loan Facility (Exit Facility)
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000,000
Cash payment for cancellation of debt	$ 20,000,000
Unrestricted cash and cash equivalents after giving pro forma effect to requested release (less than)		$ 7,000,000
Restricted cash		$ 16,900,000
Debt instrument, stated interest rate	5.00%
Debt instrument, PIK interest rate	7.00%
Effective date interest rate		12.00%
Debt and capital lease obligations		$ 48,266,000			$ 47,150,000
Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding		$ 8,600,000
Letter of Credit | New Regions Letters of Credit Facility
Debt Instrument [Line Items]
Effective date interest rate		3.00%
Percent of the sum of all amount owing	105.00%
Percent of aggregate line of credit for charge cards	120.00%
Successor
Debt Instrument [Line Items]
Payments of debt		$ 511,000
Predecessor
Debt Instrument [Line Items]
Payments of debt			$ 394,000
Subsequent Event | Line of Credit | New First Lien Term Loan Facility (Exit Facility)
Debt Instrument [Line Items]
Debt instrument, PIK interest rate				2.00%

Long-Term Debt - Capital Lease

Long-Term Debt - Capital Lease Payment Schedule (Details) $ in Thousands	Mar. 31, 2018USD ($)
Debt Disclosure [Abstract]
April - December 2018	$ 1,313
2,019	1,644
2,020	1,713
2,021	1,197
2022 and thereafter	$ 31

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Line of Credit - New First Lien Term Loan Facility (Exit Facility) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
New Loan Agreement	$ 48,266	$ 47,150
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
New Loan Agreement	$ 50,719	$ 55,550

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Gain Contingencies [Line Items]
Limit excess policy	$ 10,000,000
Threshold amount for additional premium payable percentage	$ 1,000,000
Percentage of claims paid over threshold	15.00%
Letters of credit	$ 8,600,000
Auto Liability and General Liability Insurances
Gain Contingencies [Line Items]
Self insurance basic coverage	250,000
Employee Group Medical Plan
Gain Contingencies [Line Items]
Self insurance basic coverage	150,000
Self insurance reserve	$ 6,300,000	$ 7,200,000
Customer concentration risk | Consolidated revenues | Largest customer
Concentration Risk [Line Items]
Concentration risk, percentage	15.20%
Customer concentration risk | Consolidated revenues | Five largest customers
Concentration Risk [Line Items]
Concentration risk, percentage	48.60%
Customer concentration risk | Consolidated revenues | Ten largest customers
Concentration Risk [Line Items]
Concentration risk, percentage	60.90%
Customer concentration risk | Consolidated revenues | Major Customer One
Concentration Risk [Line Items]
Concentration risk, percentage	15.20%
Customer concentration risk | Consolidated revenues | Major Customer Two
Concentration Risk [Line Items]
Concentration risk, percentage	14.80%
Customer concentration risk | Accounts receivable | Largest customer
Concentration Risk [Line Items]
Concentration risk, percentage	24.70%
Customer concentration risk | Accounts receivable | Five largest customers
Concentration Risk [Line Items]
Concentration risk, percentage	48.50%
Customer concentration risk | Accounts receivable | Ten largest customers
Concentration Risk [Line Items]
Concentration risk, percentage	62.90%

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Compensation Cost for Share-based Payment Arrangements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share based compensation expense recognized	$ (250)	$ 0
Unrecognized compensation cost	$ 3,414	$ 0
Remaining weighted-average service period (years)	3 years 4 months 28 days

Share-Based Compensation - Sc43

Share-Based Compensation - Schedule of Nonvested Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) - $ / shares shares in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Number of Shares
Unvested beginning balance (in shares)	363
Granted (in shares)	0	450
Vested (in shares)	0
Forfeited (in shares)	0
Unvested ending balance (in shares)	363	363
Weighted Average Fair Value
Unvested beginning balance (in dollars per share)	$ 11,000
Granted (in dollars per share)	0
Vested (in dollars per share)	0
Forfeited (in dollars per share)	0
Unvested ending balance (in dollars per share)	$ 11,000	$ 11,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	May 10, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Related party expenses	$ 266,000	$ 330,000
Related party revenue	0	1,000
Related party payments	0	$ 73,000
Related party payables	1,000			$ 11,000
Related party accounts receivable	0			$ 0
Ascribe and Solace | Line of Credit | New First Lien Term Loan Facility (Exit Facility)
Related Party Transaction [Line Items]
Debt due to related party	13,200,000
Solace | Line of Credit | New First Lien Term Loan Facility (Exit Facility)
Related Party Transaction [Line Items]
Debt due to related party	$ 11,900,000
Subsequent Event | Ascribe and Solace
Related Party Transaction [Line Items]
Percent of common stock outstanding			24.10%
Subsequent Event | Solace
Related Party Transaction [Line Items]
Percent of common stock outstanding			17.80%

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Restricted Stock
Class of Stock [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	363,300
Stock Options
Class of Stock [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		602,625
Common stock equivalents underlying the Series B Preferred Stock outstanding
Class of Stock [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		5,292,531

Earnings per Share - Computatio

Earnings per Share - Computation of Basic and Diluted Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Basic and diluted:
Net loss	$ (8,547)
Successor
Basic and diluted:
Net loss	(8,547)
Preferred stock dividends and accretion	0
Net loss attributable to common stockholders	$ (8,547)
Weighted-average common shares (in shares)	5,336
Basic and diluted net loss per share (in usd per share)	$ (1.60)
Predecessor
Basic and diluted:
Net loss		$ (22,440)
Preferred stock dividends and accretion		(46)
Net loss attributable to common stockholders		$ (22,486)
Weighted-average common shares (in shares)		22,215
Basic and diluted net loss per share (in usd per share)		$ (1.01)

Business Segment Information (D

Business Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)salt_water_disposal_wellfluid_transport_truckworkover_rigfrac_tankswabbing_righeavy_truckcoiled_tubing_spreadwell_servicing_rigsegment	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Number of well servicing rigs | well_servicing_rig	168
Number of workover rigs | workover_rig	154
Number of swabbing rigs | swabbing_rig	14
Number of coiled tubing spreads | coiled_tubing_spread	6
Number of owned or leased fluid transport trucks | fluid_transport_truck	258
Number of other heavy trucks | heavy_truck	109
Number of frac tanks | frac_tank	2,868
Number of salt water disposal wells | salt_water_disposal_well	15
Segment Reporting Information, Operating Income (Loss) [Abstract]
Operating loss	$ (6,165)	$ (13,621)
Depreciation and amortization	7,163	12,068
Capital expenditures	5,332	377
Total assets	197,006		$ 201,757
Long-lived assets	(126,973)	(221,538)
Reconciliation of the Company's Operating Loss As Reported:
Operating loss	(6,165)	(13,621)
General and administrative expense	4,888	4,512
Depreciation and amortization	7,163	12,068
Other income and expenses, net	(2,365)	(8,788)
Pre-tax loss	(8,530)	(22,409)
Reconciliation of the Company's Assets As Reported:
Assets	197,006		201,757
Operating Segments
Segment Reporting Information, Operating Income (Loss) [Abstract]
Operating revenues	35,592	27,047
Direct operating costs	29,706	24,088
Operating loss	5,886	2,959
Total assets	227,281	1,050,000	215,134
Reconciliation of the Company's Operating Loss As Reported:
Operating loss	5,886	2,959
Reconciliation of the Company's Assets As Reported:
Assets	227,281	1,050,000	215,134
Elimination of internal transactions
Segment Reporting Information, Operating Income (Loss) [Abstract]
Total assets	(348,903)		(311,147)
Reconciliation of the Company's Assets As Reported:
Assets	(348,903)		(311,147)
Parent
Segment Reporting Information, Operating Income (Loss) [Abstract]
Total assets	318,628		297,770
Reconciliation of the Company's Assets As Reported:
Assets	318,628		$ 297,770
Well Servicing
Segment Reporting Information, Operating Income (Loss) [Abstract]
Depreciation and amortization	3,732	6,169
Capital expenditures	955	274
Long-lived assets	(83,615)	(136,435)
Reconciliation of the Company's Operating Loss As Reported:
Depreciation and amortization	3,732	6,169
Well Servicing | Operating Segments
Segment Reporting Information, Operating Income (Loss) [Abstract]
Operating revenues	22,857	17,105
Direct operating costs	19,017	14,140
Operating loss	3,840	2,965
Total assets	146,825	615,696
Reconciliation of the Company's Operating Loss As Reported:
Operating loss	3,840	2,965
Reconciliation of the Company's Assets As Reported:
Assets	146,825	615,696
Fluid Logistics
Segment Reporting Information, Operating Income (Loss) [Abstract]
Depreciation and amortization	3,431	5,899
Capital expenditures	4,377	103
Long-lived assets	(43,358)	(85,103)
Reconciliation of the Company's Operating Loss As Reported:
Depreciation and amortization	3,431	5,899
Fluid Logistics | Operating Segments
Segment Reporting Information, Operating Income (Loss) [Abstract]
Operating revenues	12,735	9,942
Direct operating costs	10,689	9,948
Operating loss	2,046	(6)
Total assets	80,456	434,304
Reconciliation of the Company's Operating Loss As Reported:
Operating loss	2,046	(6)
Reconciliation of the Company's Assets As Reported:
Assets	$ 80,456	$ 434,304

Supplemental Cash Flow Inform48

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash paid for
Interest	$ 921	$ 461
Supplemental schedule of non-cash investing and financing activities
Changes in accounts payable related to capital expenditures	2,414	0
Capital leases on equipment	583	0
Preferred stock dividends and accretion costs	$ 0	$ 46

Recent Accounting Pronounceme49

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash and cash equivalents	$ 7,572	$ 5,465
Restricted cash	25,601	30,015
Cash and cash equivalents and restricted cash as shown in the consolidated statement of cash flows	$ 33,173	$ 35,480
Predecessor
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash and cash equivalents			$ 17,647	$ 20,437
Restricted cash			27,579	27,563
Cash and cash equivalents and restricted cash as shown in the consolidated statement of cash flows			$ 45,226	$ 48,000